Required Disclosure Under NASDAQ Listing Rule 5635 Regarding Inducement Grants- 5 Mar 2010

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press release




March 5, 2010, 5:29 p.m. EST
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Required Disclosure Under NASDAQ Listing Rule 5635 Regarding
Inducement Grants






 


http://www.marketwatch.com/story/required-disclosure-under-nasdaq-listing-rule-5635-regarding-inducement-grants-2010-03-05?reflink=MW_news_stmp


REDWOOD CITY, CA, Mar 05, 2010 (MARKETWIRE via COMTEX) --
NASDAQ Listing Rule 5635(c)(4) requires that listed companies
granting inducement stock options to new employees under a
Board-approved stock plan promptly issue a press release disclosing
the material terms of the grants in the period prior to stockholder
approval. In compliance with such rule, Support.com(R), Inc.
/quotes/comstock/15*!sprt/quotes/nls/sprt
(SPRT
3.20,
+0.04,
+1.27%)
a leading provider of online technology services, hereby notes
that on March 3, 2010 the Compensation Committee of the Company's
Board of Directors approved the grant of inducement stock options to
purchase a total of 13,000 shares of common stock to two new
employees. Both of the stock options have an exercise price per share
equal to $3.08, the fair market value on the grant date. Each stock
option vests over the course of four years, with 25% vesting on the
one-year anniversary of the grant date and 1/48 of the shares vesting
monthly thereafter so that all of the shares subject to the stock
option shall be vested on the fourth anniversary of the grant date,
subject to the new employee's continued service relationship with the
Company on such date. Each stock option has a seven year term and is
subject to the terms and conditions of the Company's 2010 Equity and
Performance Incentive Plan and the stock option agreement pursuant to
which the option is granted.



Both stock options were granted as an inducement material to the new
employees' entering into employment with Support.com in accordance
with NASDAQ Listing Rule 5635(c)(4).



About Support.com



Support.com, Inc.
/quotes/comstock/15*!sprt/quotes/nls/sprt
(SPRT
3.20,
+0.04,
+1.27%)
provides Instant Technology
Relief(R) to consumers and microbusinesses. Support.com is a
technology enabled services company that is changing the way people
manage their technology. Support.com's expert North American
Solutions Engineers can provide quick, cost-effective and satisfying
technology support experience over the Internet and the phone using
Support.com's advanced technology platform. Support.com also provides
consumer software for the do-it-yourself customer through its
recently acquired Sammsoft brand. Support.com, Inc. is an Equal
Opportunity Employer.



Support.com and the SupportMan Logo are trademarks or registered
trademarks of Support.com, Inc. or its affiliates in the US and other
countries. Other names may be trademarks of their respective owners.



For more information visit www.support.com.



Cautionary Note Regarding Forward-Looking Statements



Statements made in this document that are not historical facts are
"forward-looking statements" and accordingly involve risks and
uncertainties that could cause actual results to differ materially
from those described herein. Forward-looking statements include, for
example, all statements relating to projected financial performance
(including without limitation statements involving projections of
revenue, income (loss), earnings (loss) per share, capital
expenditures, dividends, capital structure, or other financial
items); the plans and objectives of management for future operations,
products or services; and future performance in economic terms,
products or services, or other any other measures. The potential
risks and uncertainties that could cause results to differ materially
include, among others, our ability to retain and grow major
partnerships, our ability to maintain and grow revenue through new
channels and direct-to-consumer, our ability to meet operational
objectives, our ability to control expenses and achieve
profitability, and our ability to successfully integrate acquired
products and services. These and other risks are detailed in
Support.com's reports filed with the Securities and Exchange
Commission, including without limitation its latest Annual Report on
Form 10-K and its latest quarterly report on Form 10-Q, copies of
which may be obtained from www.sec.gov. Support.com does not intend
to update this information to reflect future events or circumstances,
and disclaims any obligation to do so except as may be required by
law.


Investor Contact

Carolyn Bass and Daniel Wood
Market Street Partners
(415) 445-3235
sprt@marketstreetpartners.com

Media Contact

Jonathan Poretz
Double Forte for Support.com
(415) 848.8109
jporetz@double-forte.com





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