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As Of Filer Filing For·On·As Docs:Size Issuer Agent 3/17/03 Cree Inc SC TO-I 9:487K Cree Inc Donnelley R… Fin’l/NY/FA |
Document/Exhibit Description Pages Size 1: SC TO-I Tender Offer Statement HTML 60K 2: EX-1.A Offer to Exchange HTML 283K 3: EX-2.A Announcement Letter HTML 11K 4: EX-3.A Election Form HTML 19K 5: EX-4.A Withdrawal Form HTML 17K 6: EX-5.A Report of Eligible Options HTML 12K 7: EX-6.A Personal Option Status Report HTML 15K 8: EX-7.A Promise to Grant Stock Option HTML 19K 9: EX-8.A Notice of Acceptance HTML 9K
| Promise to Grant Stock Option |
Exhibit (a)(7)
Promise to Grant Stock Option
PROMISE TO GRANT STOCK OPTION
| Option Holder: |
_________________________________ |
Date:______________ | ||||||
| Canceled Option: |
New Option To Be Granted: | |||||||
| Option No.: |
__________________ |
Option Plan: |
Equity Compensation Plan | |||||
| Option Plan: |
__________________ |
Option Type: |
Nonqualified | |||||
| Grant Date: |
__________________ |
Grant Date: |
Not earlier than __________ | |||||
| No. of Shares: |
__________________ |
No. of Shares: |
_________________ | |||||
| Exercise Price: |
__________________ |
Exercise Price: |
Fair market value on the Grant Date | |||||
| Cancellation Date: |
__________________ |
Expiration Date: |
_________________ | |||||
Cree, Inc. (“Cree”) is issuing this Promise to Grant Stock Option to you, the option holder named above, pursuant to the offer (the “Offer”) made in Cree’s Offer to Exchange dated March 17, 2003 (the “Offer to Exchange”). In accordance with your election to participate in the Offer, we canceled your option identified above, Option No. , on the cancellation date shown. In exchange for cancellation of this option, Cree promises to grant you a new option to purchase shares of Cree’s common stock under our Equity Compensation Plan, subject to and in accordance with the terms and conditions of the Offer, as follows:
| • | The new option grant date will be determined in accordance with the Offer and will not be earlier than . |
| • | The exercise price will be equal to the fair market value of our common stock on the new option grant date. |
| • | The new option will not be vested or exercisable to purchase any of the shares before . The vesting schedule thereafter will be as follows: |
shares on
shares on
shares on
shares on
shares on
| • | The new option, if not sooner exercised or terminated, will expire on . |
| • | The new option will be subject to the terms and conditions of the Equity Compensation Plan, the Master Stock Option Award Agreement you previously signed and the Notice of Grant we will issue to you after the new option is granted. |
To be granted the new option, you must continuously remain an employee of Cree or one of our subsidiaries from the cancellation date of your canceled option until the new option grant date. Your participation in the Offer does not guarantee your employment. We will not be obligated to grant the new option if doing so is then prohibited by law or would violate the marketplace rules or listing requirements of The Nasdaq Stock Market or any similar rules or requirements to which we are subject. If we cannot grant the new option lawfully and in compliance with such rules and requirements on or before , our obligation to grant the new option will end.
This Promise to Grant Stock Option is subject to the terms and conditions of the Offer as set forth in the Offer to Exchange dated March 17, 2003 and the documents referenced therein, all of which are incorporated by reference. These documents reflect the entire agreement between you and Cree with respect to this Promise to Grant Stock Option.
CREE, INC.
By:
| This ‘SC TO-I’ Filing | Date | Other Filings | ||
|---|---|---|---|---|
 | ||||
| Filed on: | 3/17/03 | None on these Dates | ||
| List all Filings | ||||