IRVINE SENSORS CORPORATION STOCK APPRECIATION RIGHTS AGREEMENT (STOCK SETTLED)Irvine Sensors Corporation Stock Appreciation Rights Agreement • May 15th, 2007 • Irvine Sensors Corp/De/ • Semiconductors & related devices • Delaware
This STOCK APPRECIATION RIGHTS AGREEMENT (this “Agreement”), dated as of ___, ___(the “Effective Date”), is between Irvine Sensors Corporation, a Delaware corporation (the “Company”) and ___, an individual resident of ___(“Participant”). This Agreement is granted under the Irvine Sensors Corporation 2006 Omnibus Incentive Plan (the “Plan”) and is subject to the terms of that Plan. This Agreement represents the Company’s unfunded and unsecured promise to issue common stock of the Company, $0.01 par value (“Shares”) at a future date based on appreciation in the market value of such Shares from the date of this Agreement, subject to the terms of this Agreement and the Plan.
