Nautilus 2004 Annual Report Download - page 67

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DATE OF GRANT:
Dated:
3
EXHIBIT 10.4
THE NAUTILUS GROUP, INC.
THE NAUTILUS GROUP, INC.
By:
Signature
Print Name
Its:
(Optionee)
Print Name
NONSTATUTORY STOCK OPTION AGREEMENT
The Nautilus Group, Inc. (the “Company”) has granted to (the “Optionee”), an option to purchase a total of shares of
Common Stock, at the price determined as provided herein, and in all respects subject to the terms, definitions and provisions of the 1995 Stock
Option Plan (the “Plan”) adopted by the Company which is incorporated herein by reference. The Terms defined in the Plan shall have the
same defined meanings herein.
1. Nature of the Option . This Option is a nonstatutory stock option and is not intended to qualify for a special tax benefit to the Optionee.
2. Exercise Price . The exercise price is $ U.S. for each share of Common Stock, which price is not less than the fair market value per
share of the Common Stock on the date of grant.
3. Exercise of Option . The Option shall be exercisable during its term in accordance with the provisions of the Plan as follows:
(i) Right to Exercise.
(a) This Option shall be exercisable, only when the Option is vested as defined in Term of Option, Section 8.
(b) This Option may not be exercised for a fraction of a share.
(c) In the event of Optionee’s death or divorce, the exercisability of the Option is governed by the provisions of the Plan.
(ii) Method of Exercise . This Option shall be exercisable by written notice which shall state the election to exercise the Option, the
number of Shares in respect of which the Option is being exercised, and such other representations and agreements as to the Optionee’s
investment intent with respect to such shares of Common Stock as may be required by the Company pursuant to the provisions of the Plan.
Such written notice shall be signed by the Optionee and shall be delivered in person or by certified mail to the Secretary or Assistant Secretary
of the Company. The written notice shall be accompanied by payment of the exercise price as provided in Section 5 below.
No shares will be issued pursuant to the exercise of an Option, unless such issuance and such exercise shall comply with all relevant
provisions of law and the requirements of any stock exchange upon which the Shares may then be listed.
4. Optionee’s Representations . In the event the Shares purchasable pursuant to the exercise of the Option have not been registered under the
Securities Action of 1933, as amended, at the time this Option is exercised, Optionee shall, concurrently with the exercise of all or any portion
of this Option, deliver to the Company the Optionee’s Investment Representation Statement in such form as may be required in the opinion of
the Company’s legal counsel to comply with applicable state and federal securities laws.
1