Notice of Stock Option Grant – PurchasePro.com Inc. and RIchard Clemmer
NOTICE OF STOCK OPTION GRANT
UNDER THE 1999 STOCK PLAN
OF PURCHASEPRO.COM, INC.
You have been granted the following option to purchase Common Stock of
PurchasePro.Com, Inc. (the "Company") under the 1999 Stock Plan of
PurchasePro.com, Inc. (the "Plan"):
Name of Optionee: Richard Clemmer
Total Number of Option Shares Granted: 300,000
Type of Option: Nonstatutory Stock Option
Exercise Price Per Share: $2.53
Grant Date: May 15, 2001
By your signature and the signature of the Company's representative below,
you and the Company agree that this option is granted under and governed by the
term and conditions of the Plan and this Stock Option Agreement, both of which
are attached to and made a part of this document.
OPTIONEE: PURCHASEPRO.COM, INC.
_____________________________________ By:____________________________________
Richard L. Clemmer
Title:_________________________________
STOCK OPTION AGREEMENT
FOR THE 1999 STOCK PLAN
OF PURCHASEPRO.COM, INC.
BY SIGNING THE COVER SHEET OF THIS AGREEMENT,
YOU AGREE TO ALL OF THE TERMS AND CONDITIONS
DESCRIBED ABOVE AND IN THE PLAN.
1999 STOCK PLAN OF PURCHASEPRO.COM, INC.
NOTICE OF EXERCISE OF STOCK OPTION
OPTIONEE INFORMATION:
Name: _________________________________ Social Security Number:_____________
Address: _________________________________ Phone Number (Work): _____________
_________________________________ Phone Number (Home): _____________
OPTION INFORMATION:
Date of Grant: __________________________ Type of Option: ___ Nonstatutory
Exercise Price per Share: $______________ ___ Incentive
Total Number of Shares of Common Stock of PurchasePro.com, Inc. (the “Company”)
covered by option: _____________ Shares
EXERCISE INFORMATION
Number of shares of Common Stock of the Company for which option is being
exercised now: ______________ Shares (These shares are referred to below as the
“Purchased Shares”)
Total Exercise Price for the Purchased Shares: $ ___________
Form of payment enclosed (Check all that apply):
___ Check for $________ made payable ___ Certificate(s) for ________shares of
to “PurchasePro.com, Inc.” the Common Stock of the Company that
I have owned for at least twelve
months or have purchased in the open
market. (These shares will be valued
as of the effective date of Option
exercise.)
Name(s) in which the Purchased Shares should be registered [YOU MUST CHECK ONE]:
___ In my name only
___ In the names of my spouse and My spouse’s name(if applicable)
myself as community property
___ In the names of my spouse and __________________________________
myself as joint tenants with
right of survivorship
The certificate for the Purchased Shares should be sent to the following
address:
______________________________________
______________________________________
______________________________________
______________________________________
Special Request(s):
_______________________________________________________________________________
_______________________________________________________________________________
_______________________________________________________________________________
ACKNOWLEDGEMENTS:
1. I understand that all sales of Purchased Shares are subject to compliance
with the Company’s policy on securities trades.
2. In the case of a nonstatutory option, I understand that I must recognize
ordinary income equal to the spread between the fair market value of the
stock on the date of exercise and the exercise price. I further understand
that I am required to pay withholding taxes at the time of exercising a
nonstatutory option.
3. I hereby acknowledge that I received and read a copy of the prospectus
describing the Company’s 1999 Stock Incentive Plan and the tax consequences
of an exercise.
SIGNATURE: DATE:
____________________________________________ ________________________________
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