A: The strike price is defined as the price that the employee can exercise his/her options at. For example, if the strike price is $1.00, at the point the 100s options have vested, the aggregate amount owed to exercise would be $100.00
A: In general a stock option agreement is a mutually agreed upon contract. However, these documents must conform to to the terms of the Stock Option Plan. Typically, the only true negotiable item is the quantity of options one is receiving but each situation is fact specific.
A: The broad general answer is that all agreements if drafted carefully have a termination provision. Reasons can be for cause or for no cause. This provision like all others in the contract are negotiated by the parties.