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EXHIBIT 4.10
OPTION AGREEMENT
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THIS OPTION AGREEMENT is executed as of _______________, by and between
NEW HORIZONS WORLDWIDE, INC., a Delaware corporation ("Company"), and
____________________________ ("Optionee").
RECITALS
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WHEREAS, pursuant to terms of the New Horizons Worldwide, Inc. 1997
Outside Directors Elective Stock Option Plan, Optionee has, in lieu of receiving
other consideration, elected to be issued an Option to purchase Shares; and
WHEREAS, pursuant to terms of the Plan, Company and Optionee must
execute this Option Agreement to set forth the terms and conditions of such
Option;
NOW, THEREFORE, in consideration of the foregoing and the mutual
covenants herein contained, the parties hereto agree as follows:
1. GRANT OF OPTION
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Subject to all of the terms and provisions of the Plan,
Company hereby grants to Optionee an Option to purchase all or any part of an
aggregate of ___________ Shares.
2. OPTION PRICE
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The Option Price for the Shares covered by the Option shall be
$_____ per Share, which is equal to the Fair Market Value of the Shares on
_______________, 199__.
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3. INCORPORATION OF PLAN PROVISIONS
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The Plan is incorporated herein by reference, and the Option
shall in all respects be subject to the terms and conditions of the Plan. In the
event of a conflict between the terms and conditions of this Option Agreement
and those of the Plan, the terms and conditions of the Plan shall govern. All
capitalized terms not otherwise defined herein shall have the same meaning as
set forth in the Plan. A copy of the Plan is attached to this Option Agreement
as Exhibit A.
IN WITNESS WHEREOF, the parties hereto have executed this document as
of _____________________, 1997.
NEW HORIZONS WORLDWIDE, INC.
("Company")
By:
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("Optionee")
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