Stock Option AgreementConstruction Agreement |
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Stock Option Agreement ( ) Dated — Page 2
EXHIBIT
10.52
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Notice
of Grant of Stock Option & |
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Sterling
Construction Company, Inc. |
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Stock
Option Agreement |
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Taxpayer
ID #:25-1655321 |
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2751
Centerville Road — Suite 3131 |
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Wilmington,
Delaware 19803 |
Optionee:
Grant Date:
Option Shares:
Option Price Per Share:
Option Expiration Date:
Option Plan:
2001 Stock Incentive Plan
Effective on the Grant Date set forth above,
Sterling Construction Company, Inc. (the “Company”) has
granted to you a stock option that to the extent permissible under applicable
tax laws and regulations is intended to be an Incentive Stock Option as
defined in Section 422 of the Internal Revenue Code of 1986, as amended,
and any regulations thereunder (the “Code”) to purchase the
number of Option Shares of the Company’s common stock (par value $0.01
per share) set forth above at the Option Price Per Share set forth above, on
the condition that you enter into this Option Agreement with the Company.
The Option Shares become exercisable
(vest) in installments from and after the vesting dates set forth below:
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Number of |
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Option Shares
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Vesting Date |
You may purchase any one or more of the
Option Shares that become exercisable on a given date from that date through
and including the Option Expiration Date set forth above, unless this Option is
sooner terminated or ceases to be exercisable as provided in this Agreement or
in the Option Plan.
By signing this Option Agreement, you and the
Company agree that this Option is governed by the terms and conditions set
forth on this page and on the following Pages 2 and 3 of this Option Agreement
as well as by the terms and conditions of the Option Plan, a copy of which has
been furnished to you. An additional copy of the Option Plan will be furnished
to you on request to the Company’s Treasurer.
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Sterling Construction
Company, Inc. |
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Optionee |
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By: |
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Patrick T. Manning |
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Chairman & Chief Executive
Officer |
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Stock Option Agreement ( ) Dated — Page 2
Additional Stock Option Agreement Terms
Exercises.
For an exercise to be effective, the Company must receive from you:
A
written notice signed by you stating the Option Grant Date and the number of
Option Shares you wish to purchase; and
Payment
for the Option Shares either (i) by personal, cashier’s or certified
check; or (ii) by the surrender of shares of the Company’s Common
Stock that you have held for at least six months and that have a fair market
value (as defined in the Plan) on the date of exercise equal to the purchase
price of the Option Shares being purchased, or a combination of both, all
according to the rules and regulations relating to the Plan.
Issuance of Option Shares.
You
will have no rights as a shareholder of the Company with respect to any Option
Shares purchased under this Option until a certificate representing such shares
has been issued and delivered to you.
The
Company will not be obligated to deliver a certificate for any Option Shares
unless —
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(i) |
Provision
acceptable to the Company has been made for the payment of any federal, state
and local taxes that are due or that are required to be withheld by the
Company because of the
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