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EXHIBIT 10.23
WEBSIDESTORY, INC.
STOCK OPTION GRANT NOTICE
(2000 EQUITY INCENTIVE PLAN)
WebSideStory, Inc. (the "Company"), pursuant to its 2000 Equity Incentive Plan
(the "Plan"), hereby grants to Optionholder an option to purchase the number of
shares of the Company's Common Stock set forth below. This option is subject to
all of the terms and conditions as set forth herein and in the Plan (a copy of
which has been made available to all employees), and in the Notice of Exercise
and Stock Option Agreement, both of which are attached hereto and incorporated
herein in their entirety.
Optionholder: Terance Kinninger
Date of Grant: May 10, 2000
Vesting Commencement Date: May 10, 2000
Number of Shares Subject to Option: 375,000
Exercise Price (Per Share): $0.39
Total Exercise Price: $146,250.00
Expiration Date: 05/09/2010
TYPE OF GRANT:
[X] Incentive Stock Option(1) [ ] Nonstatutory Stock Option
EXERCISE SCHEDULE:
[X] Same as Vesting Schedule [ ] Early Exercise Permitted
VESTING SCHEDULE: 187,500 of the shares subject to the option will vest over
a three-year period as follows:
31,250 will vest on October 10, 2000, and the remaining
156,250 will vest monthly and ratably over the remaining 30
months. 187,500 of the shares subject to the option will
vest on the fourth annual anniversary of the Vesting
Commencement Date.
PAYMENT: By one or a combination of the following items (described
in the Stock Option Agreement):
By cash or check
Pursuant to a Regulation T Program if the Shares are
publicly traded
By delivery of already-owned shares if the Shares are
publicly traded
ADDITIONAL TERMS/ACKNOWLEDGEMENTS: The undersigned Optionholder acknowledges
receipt of, and understands and agrees to, this Grant Notice, the Stock Option
Agreement and the Plan. Optionholder further acknowledges that as of the Date of
Grant, this Grant Notice, the Stock Option Agreement and the Plan set forth the
entire understanding between Optionholder and the Company regarding the
acquisition of stock in the Company and supersede all prior oral and written
agreements on that subject with the exception of (i) options previously granted
and delivered to Optionholder under the Plan, and (ii) the following agreements
only:
WEBSIDESTORY, INC. OPTIONHOLDER:
By: /s/ MICHAEL S. CHRISTIAN /s/ TERANCE A. KINNINGER
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Signature Signature
Title: Secretary Date:
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Date:
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ATTACHMENTS: Stock Option Agreement, 2000 Equity Incentive Plan and Notice of
Exercise
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(1) If this is an incentive stock option, it (plus your other outstanding
incentive stock options) cannot be first exercisable for more than $100,000 in
any calendar year. Any excess over $100,000 is a nonstatutory stock option.
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ATTACHMENT I
STOCK OPTION AGREEMENT
See Exhibit 10.3.2.
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ATTACHMENT II
2000 EQUITY INCENTIVE PLAN
See Exhibit 10.3.
