AVI BIOPHARMA, INC. STOCK OPTION AGREEMENT Incentive Stock Option

EXHIBIT99.1

 

AVI BIOPHARMA, INC.

Incentive Stock Option

 

This is made betweenAVI BIOPHARMA, INC., an Oregon corporation (the “Company”), and                                 (the “Optionee”), pursuant to the Company’s 2002 Equity Incentive Plan (the “Plan”).  The Company and the Optionee agree asfollows:

 

1.                                       OptionGrant.  The Company hereby grants to theOptionee on the terms and conditions of this Agreement the right and the option(the “Option”) to purchase all or any part of                 shares of the Company’s Common Stock at a purchase price of $                per share.  The terms and conditions ofthe Option grant set forth in attached Exhibit A are hereby incorporated intoand made a part of this Agreement.  TheOption is intended to be an Incentive Stock Option, as defined in Section 422Aof the Internal Revenue Code of 1986, as amended (the “Code”).

 

2.                                       Time of Exerciseof Option.   The Vesting Reference Datefor this Option is                        ,             .  Until it expires or is terminated as providedin Sections 1 or 5 of Exhibit A, the Option may be exercised to purchase sharesfrom time to time to purchase shares up to the following limits:

 

Years After Vesting
Reference Date

 

Percentage Exercisable

one

 

    percent

two

 

    percent

three

 

    percent

four

 

    percent

 

3.                                       Grant Date.  The Grant Date for this Option is                        ,            .  The Option shall continue in effect until thedate             yearsafter the Grant Date (the “Expiration Date”) unless earlier terminated asprovided in Sections 1 or 5 of Exhibit A.

 

AVI BIOPHARMA, INC.

OPTIONEE

By:

 

 

 

 

 

[signature]

Title:

 

 

 

 

4575 SW Research Way

 

 

 

 

Suite 200

 

[print name]

 

Corvallis, OR 97333

 

 

 

 

 

 

 

 

 

[address]

 

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