VASTERA, INC. STOCK OPTION ASSUMPTION AGREEMENTOption Assumption Agreement • April 18th, 2001 • Vastera Inc • Services-computer integrated systems design
As you know, Vastera, Inc., a Delaware corporation ("VASTERA"), acquired Speed Chain Network, Inc. ("TARGET") on March 29, 2001 (the "CLOSING DATE") (the "ACQUISITION"). In the Acquisition, each share of Target common stock was exchanged for 0.06918 of a share (the "EXCHANGE RATIO") of Vastera common stock, par value $0.01 per share (the "VASTERA STOCK"). On the Closing Date you held one or more outstanding options to purchase shares of Target common stock, no par value (the "TARGET STOCK"), granted to you under the Speed Chain Network, Inc. 2000 Stock Option Plan (the "PLAN") and documented with a Stock Option Agreement(s) and/or Notice(s) of Grant of Stock Option (collectively, the "OPTION AGREEMENT") issued to you under the Plan (the "TARGET OPTIONS"). In accordance with the Acquisition, on the Closing Date Vastera assumed all obligations of Target under the Target Options. This Agreement evidences the assumption of the Target Options, including the necessary adjustments to the Targ
