Use this Stock Option Agreement to give employees the option to purchase the company's common stock within the terms and conditions of the agreement. Exhibit 10.49 Option Cancellation Agreement from WERNER HOLDING CO INC filed with the Securities and Exchange Commission.Non-Qualified Stock Option Grant Agreement. Options will be exercised at the sole discretion of Lottery. This PandaDoc Employee Stock Option Agreement Template allows companies to easily create a comprehensive agreement granting stock options to employees. Terms that are defined in the Securities Purchase Agreement are used in this letter agreement as so defined. Code § 21.29 (relating to qualified or restricted stock options; acceptance of general tender offers).