-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, RW9yT1WHkIt7Haw4hdyichzebD8pFxWd5WVrB1UUF/Xccwpzn+YWBmoAOTfBcyp9 y4l4ZbIePKH2rbWnOOQatw== 0001414299-08-000004.txt : 20080401 0001414299-08-000004.hdr.sgml : 20080401 20080401150542 ACCESSION NUMBER: 0001414299-08-000004 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20080327 FILED AS OF DATE: 20080401 DATE AS OF CHANGE: 20080401 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: INNOVATIVE CARD TECHNOLOGIES INC CENTRAL INDEX KEY: 0001300578 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRONIC COMPONENTS & ACCESSORIES [3670] IRS NUMBER: 141861651 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 10880 WILSHIRE BLVD. STREET 2: SUITE 950 CITY: LOS ANGELES STATE: CA ZIP: 90024 BUSINESS PHONE: 310-312-0700 MAIL ADDRESS: STREET 1: 10880 WILSHIRE BLVD. STREET 2: SUITE 950 CITY: LOS ANGELES STATE: CA ZIP: 90024 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: CAPORALE CHARLES M CENTRAL INDEX KEY: 0001251370 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-33353 FILM NUMBER: 08729025 MAIL ADDRESS: STREET 1: C/O WOMEN FIRST HEALTHCARE INC STREET 2: 12220 EL CAMINO REAL CITY: SAN DIEGO STATE: CA ZIP: 92130 4 1 primary_doc.xml PRIMARY DOCUMENT X0202 4 2008-03-27 0 0001300578 INNOVATIVE CARD TECHNOLOGIES INC INVC 0001251370 CAPORALE CHARLES M 10880 WILSHIRE BOULEVARD SUITE 950 LOS ANGELES CA 90024 0 1 0 0 Chief Financial Officer Stock Option 2.25 2008-03-27 4 A 0 200000 0 A Common Stock 200000 200000 D Vesting of the options shall be triggered on the achievement of 4 business milestones within 1 year from September 21, 2007: (a) raising of additional capital, (b) timely submission of the Company's SEC filings, (c) achievement of specific performance criteria related to the management of the Company's financial affiars, and (d) corporate governance. Upon achievement of each of the aforementioned 4 milestones, 25% of the Options (50,000 options per milestone) shall vest pursuant to the following schedule: 50% at achievement of the milestone 25% at the expiration of 12 months following achievement of the milestone; and 25% at the expiration of 24 months following achievement of milestones. Notwithstanding the foregoing, all options will vest 100% in the event of termination of the Reporting Person by the Company without cause, 50,000 options will vest pursuant to the vesting schedule above no later than March 31, 2008 for achievement of milestone (a) - raising of additional capital. The option shall terminate upon the first event to occur: (i) the expiration of 10 years from the date the option was granted; or (ii) the expiration of 3 months from the date of the Reporting Person's termination of employment for a reason other than the Reporting Person's death, disability or retirement; or (iii) the expiration of 12 months from the date of the Reporting Person's termination of employment by reason of disability; or (iv) the expiration of 12 months from the date of the Reporting Person's death, if such death occurs while the Reporting Person is in the employ or service of the Company. Charles M. Caporale 2008-03-28 -----END PRIVACY-ENHANCED MESSAGE-----