Molex Incorporated 2005 Molex Incentive Stock Option Plan Stock Option Agreement
EXHIBIT 10.12
This Stock Option Agreement (“Agreement”) is between Molex Incorporated (“Molex”) and
«PARTICIPANT NAME» (“Director”) and shall be effective as of «GRANT DATE» (“Grant Date”).
1. Grant of Stock Option. Subject to the provisions set forth herein and the terms of
the 2005 Molex Incentive Stock Option Plan (“Plan”), the terms of which are incorporated by
reference, and in consideration of the agreements of Director herein provided, Molex grants to
Director a nonqualified stock option (“Stock Option”) to purchase «NUMBER OF SHARES GRANTED» shares
of Molex’s Class A Common Stock (“Stock”), at «▇▇▇▇▇ ▇▇▇▇▇» per share.
2. Vesting and Expiration. The Stock Option shall not be exercisable during the
one-year period following the Grant Date. Following the one-year period, the Stock Option shall
vest in accordance with the following schedule: 25% on the first anniversary of the Grant Date; 25%
on the second anniversary of the Grant Date; 25% on the third anniversary of the Grant Date; and
25% on the fourth anniversary of the Grant Date. To the extent that the Stock Option is not
exercised when it vests, the Stock Option shall not expire but shall be carried forward and shall
be exercisable at any time thereafter, provided, however, that the Stock Option shall expire on the
sixth anniversary of the Grant Date or «EXPIRATION DATE».
3. Exercise of Stock Option. The Stock Option may be exercised in accordance with the
Plan, and in accordance with the practices and procedures of Molex applicable to the exercise of
Stock Options.
4. Effect of Termination of Service, Death or Disability. The vesting of the Stock
Option may be accelerated upon the death, total disablement or retirement of Director pursuant to
the terms of the Plan. The Stock Option will be canceled immediately upon the termination of
service of Director if such termination is not caused by the Director’s death, total disablement or
retirement pursuant to the terms of the Plan.
5. Registration of Stock. Any Stock acquired under the Plan has been registered under
the Securities Act of 1933, as amended (the “Act”) or under applicable state securities laws or
exemptions thereunder. Director may sell Stock purchased pursuant to the Plan subject to complying
with all applicable federal securities laws and rules and Molex’s ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Policy.
6. Transferability. The Stock Option granted hereunder is personal to Director and no
rights granted hereunder may be transferred, assigned, pledged or hypothecated in any way (whether
by operation of law or otherwise) except as permitted under Section 8.2 of the Plan.
7. Rights as Stockholder. Director or other person or entity exercising the Stock
Option shall have no rights as a stockholder with respect to any Stock covered by the Stock Option
until any such Stock has been fully paid and issued as provided herein.
8. Taxes. Molex’s obligation to deliver Stock upon the exercise of a Stock Option
shall be subject to Director’s satisfaction of all applicable federal, state and local income,
excise and employment tax withholding requirements.
9. Severability. In the event any one or more of the provisions of this Agreement
shall be held invalid, illegal or unenforceable in any respect in any jurisdiction, such provision
or provisions shall be automatically deemed amended, but only to the extent necessary to render
such provision or provisions valid, legal and enforceable in such jurisdiction, and the validity,
legality and enforceability of the remaining provisions of this Agreement shall not in any way be
affected or impaired thereby.
10. Governing Law. This Agreement shall be administered, construed and governed in
all respects under and by the laws of the State of Illinois, without reference to conflicts of laws
principles of the United States or any other country or jurisdiction.
11. Electronic Acceptance. The exercise of the Stock Option is conditioned upon the
electronic acceptance by Director of the terms hereof in the manner established by Molex.
12. Acknowledgment. Director acknowledges receipt of a copy of the Plan, the related
prospectus, and this Agreement and represents that he or she is familiar with the terms and
provisions thereof, and hereby accepts the Stock Option and agrees to be bound by its contractual
terms as set forth herein and in the Plan. Director hereby agrees to accept as binding, conclusive
and final all decisions and interpretations of the Committee (as defined in Article IV of the Plan)
regarding any questions relating to the Stock Option. In the event of a conflict between the terms
and provisions of the Plan and the terms and provisions of the related prospectus or this
Agreement, the Plan terms and provisions shall prevail.
13. Eligibility. Director acknowledges that his/her right and eligibility to
participate in the Plan is solely based upon his or her service with Molex. Director further
acknowledges that in no circumstances shall Director be entitled to any compensation for any loss
of any right or benefit or prospective right or benefit under the Plan which he/she might otherwise
have enjoyed whether such compensation is claimed by way of breach of contract or by way of
compensation for loss of office or otherwise.
14. Limitation of Liability. Notwithstanding any provisions contained in this
Agreement or the Plan, the Committee and the Company shall not under any circumstances be held
liable for any costs, losses, expenses and/or damages whatsoever and howsoever arising in any event
including but not limited to those arising in connection with the Plan or the administration
thereof.
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Molex Incorporated
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Employee | |
▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
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«PARTICIPANT NAME» | |
Vice President, Human Resources
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(Signed electronically) |
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