1990 STOCK OPTION PLAN
1. DEFINITIONS. As used in this 1990 Stock Option Plan, the following terms shall have the following
1.1 BOARD means the Company's Board of Directors.
1.2 CODE means the Federal Internal Revenue Code of 1986, as amended.
1.3 COMPANY means LTX Corporation.
1.4 FAIR MARKET VALUE means the value of a share of Stock of the Company on any date as determined
by the Board.
1.5 GRANT DATE means the date on which an Option is granted, as specified in Section 7.
1.5A INCENTIVE OPTION means an Option intended to be an incentive stock option with the meaning of
Section 422 of the Code.
1.5B NONSTATUTORY OPTION means any option that is not an Incentive Option.
1.6 MARKET VALUE means, as of a particular date, the average closing bid and asked prices of the Stock in
the Over the Counter Market, as reported by the National Association of Securities Dealers, Inc., or if the Stock
is listed on an exchange, the closing price of the Stock.
1.7 OFFICER means any person who has been identified by the Board as an "officer" for purposes of Section
16 of the Securities Exchange Act of 1934, as amended.
1.8 OPTION means an option to purchase shares of the stock granted under the Plan.
1.9 OPTION AGREEMENT means an agreement between the Company and an Optionee, setting forth the
terms and conditions of an Option.
1.10 OPTION PRICE means the price paid by an Optionee for an Option under this Plan.
1.11 OPTION SHARE means any share of Stock of the Company transferred to an Optionee upon exercise of
an Option pursuant to this Plan.
1.12 OPTIONEE means a person eligible to receive an Option, as provided in Section 6, to whom an Option
shall have been granted under the Plan.
1.13 PLAN means this 1990 Stock Option Plan of the Company, as amended.
1.14 STOCK means common stock, par value $ 0.05 per share, of the Company.
1.15 VESTING YEAR for any portion of any Option means the calendar year in which that portion of the
Option first be