Euro Tech Holdings Reaches Stock Option Contract With Huang Rui Xiang

(RTTNews) - Euro Tech Holdings Company Ltd. (CLWT) reported that on December 11, 2014 and effective November 22, 2014, the firm inked a stock option contract with Huang Rui Xiang, a Business Development Manager of two of its majority owned subsidiaries, Yixing Pact Environmental Technology Company Ltd. and Pact Asia Pacific Ltd.

The company believes that the stock option contract was a material part of the Business Development Manager's compensation arrangements. The stock option contract grants the optionee the right to buy 20,692 Ordinary Shares, 1% of the company's issued and shares, at an exercise price of $3.484 per share. The exercise price was determined by the average closing price of the Company's as reported by NASDAQ for a ten-day period prior to the end of the Business Development Manager's probationary period on November 22, 2014, the effective date of the stock option contract. The stock options granted are exercisable three years after the effective date and terminate five years after the effective date.

In the case of the optionee's termination, except for his resignation, the options may be exercisable within three months of the termination. In the event of optionee's death, retirement or disability, he or his legal representative shall have up to one year to exercise the option. The stock option contract was approved by all of the members of the Company's Board of Directors, including all of its independent directors.