Stock Option Award Agreement - Getty Images Inc. and Sally von Bargen
November 6, 2001
Sally von Bargen
Seattle, WA
RE: VESTING OF STOCK OPTIONS
Dear Sally:
This letter is to confirm the amendments to your various stock option award
agreements under the Getty Images, Inc. 1998 Stock Incentive Plan. Specifically,
this is to confirm that each of those agreements will be amended as follows:
(a) All options awarded under those agreements are fully vested and
exercisable with effect from November 6, 2001, and
(b) You may exercise the options awarded under those agreements any
time until the option expiration dates, as described in your
option agreements, provided that no option shall be exercisable
more than one year after your death.
<PAGE>
Sally Von Bargen
November 6, 2001
Page 2
For the avoidance of doubt, the status of your stock option grants is as
follows:
<TABLE>
<CAPTION>
OPTIONS OPTIONS VESTED &
GRANT DATE SHARES STRIKE PRICE EXERCISED ACCELERATED EXERCISABLE
---------- ------ ------------ --------- ----------- -----------
<S> <C> <C> <C> <C> <C>
11/1/94 8,167 $ 0.18 8,167 0 0
2/9/98 65,000 $ 20.91 0 4,062 65,000
4/9/99 70,000 $ 23.32 0 26,250 70,000
10/22/99 15,000 $ 19.07 0 7,500 15,000
10/22/99 25,000 $ 19.07 0 12,250 25,000
3/30/01 20,000 $ 16.85 0 20,000 20,000
TOTALS 203,167 70,312 195,000
</TABLE>
All other terms of your stock option award agreements remain unchanged.
Please confirm that your agreement with the contents of this letter by signing
both originals and returning one original to me. You may keep one original for
your files.
Sincerely yours,
Jeffrey L. Beyle
ACCEPTED AND AGREED:
---------------------------------
Sally von Bargen