I am often asked to provide a "standard" form of "stock option plan" for clients. Over the years I have developed a "standard" plan. If you want a flexible and workable form of equity incentive plan and a form of stock option agreement that has a 4-year vesting schedule (25% vests on the first anniversary and 1/48th thereafter) and provides for across-the-board vesting acceleration if the company is acquired and outstanding options are not being assumed, then this is the plan to start with. In addition to the plan document you will also receive a form of stock option agreement.
The stock option agreement form will NOT provide for "early exercise" (meaning the option will only be exercisable for vested shares) unless you indicate that you have someone with experience administering early exercise programs or you subscribe to my admininstration services. Many companies do not want the burden of early exercise and the beauty of a stock option for the optionholder is that no money need be invested until there is greater certainty of being able to receive valuable shares.
You will also receive the forms for the securities filing and consent to service of process along with instructions on how to complete the forms, calculate the filing fee and where to submit the forms and fee in California.
The company must be a C-corporation, be based in California (can be incorporated in Delaware or California) and only intend to grant stock options to employees, directors and consultants in California (grants can be made outside of California, but first be sure of compliance with the laws of other states). The documents you receive will be current as of the date sent, so to be confident of ongoing compliance it is advisable to either have an experienced stock plan manager or subscribe to my administration and updates service.
To get started, please scroll up and click on "Incentive Plan Configuration".