HILLSBORO, Ore., Aug. 14 /PRNewswire-FirstCall/ -- FEI Company (Nasdaq: FEIC) announced that, in accordance with NASDAQ Marketplace Rule 4350 and as previously disclosed in its report on Form 8-K dated July 27, 2006, Don R. Kania was today granted inducement awards consisting of 75,000 Restricted Share Units and a stock option covering 100,000 shares of common stock. These inducement awards were granted outside of FEI's 1995 Stock Incentive Plan and without shareholder approval pursuant to NASDAQ Marketplace Rule 4350(i)(1)(A). The grants have the following terms: 25,000 Restricted Share Units vest in equal annual installments over four years subject to continued employment through each relevant date, the remaining 50,000 Restricted Share Units vest on the first anniversary of the date of grant, August 14, 2007, subject to continued employment through such date; the option has been classified as a non-qualified stock option, has an exercise price equal to the fair market value on the grant date, has a seven-year term and will vest in equal annual installments over four years subject to continued employment through each relevant date. Pursuant to the terms of an executive severance agreement with Dr. Kania, and as previously disclosed, all of these inducement awards will vest in full if Dr. Kania is terminated without cause, resigns for good reason, or terminates due to death or disability within 18 months following a change of control of FEI Company, provided that Dr. Kania was employed as CEO and President of FEI Company at the time of such change of control. About FEI FEI's Tools for Nanotech(TM), featuring focused ion- and electron-beam technologies, deliver 3D characterization, analysis and modification capabilities with resolution down to the sub-Angstrom level and provide innovative solutions for customers working in NanoBiology, NanoResearch and NanoElectronics. FEI's solutions deliver ultra-high resolution and automation to speed the pace of product release and production cycles for semiconductor, data storage, and MEMS manufacturers. With R&D centers in North America and Europe, and sales and service operations in more than 50 countries around the world, FEI is bringing the nanoscale within the grasp of leading researchers and manufacturers and helping to turn some of the biggest ideas of this century into reality. More information can be found on the FEI website at: www.fei.com .
SOURCE FEI Company