EXHIBIT 10.16 FORM OF 2006 INCENTIVE STOCK PLANEquity Incentive Plan Agreement |
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Exhibit
10.16
FORM
OF AWARD AGREEMENT
pursuant
to the
2006
INCENTIVE STOCK PLAN OF
VINEYARD
NATIONAL BANCORP
*
* * * *
Participant:
Grant
Date:
Number
of
[Options
inc. type, SARs, Restricted Shares] Granted:
[Exercise/Base]
Price (per share):
Expiration
Date: _ years
from Grant Date
Vesting
Schedule:
*
* * * *
THIS
AWARD AGREEMENT
(this
“Agreement”), dated as of the Grant Date specified above, is entered into by and
between Vineyard National Bancorp, (the “Company”), and the Participant
specified above, pursuant to the Vineyard National Bancorp 2006 Incentive Stock
Plan as in effect and as amended from time to time (the “Plan”);
and
WHEREAS,
it has
been determined under the Plan that it would be in the best interests of the
Company to grant the Award provided herein to the Participant.
NOW,
THEREFORE,
in
consideration of the mutual covenants and premises hereinafter set forth and
for
other good and valuable consideration, the parties hereto hereby mutually
covenant and agree as follows:
1. Incorporation
By Reference; Plan Document Receipt.
This
Agreement is subject in all respects to the terms and provisions of the Plan
(including, without limitation, any amendments thereto adopted at any time
and
from time to time unless such amendments are expressly intended not to apply
to
the award provided hereunder), all of which terms and provisions are made a
part
of and incorporated in this Agreement as if they were expressly set forth
herein. Any capitalized term not defined in this Agreement shall have the same
meaning as is ascribed thereto in the Plan. The Participant hereby acknowledges
receipt of a true copy of the Plan and that the Participant has read the Plan
carefully and fully understands its content. In the event of a conflict between
the terms of this Agreement and the terms of the Plan, the terms of the Plan
shall control.
2. Grant
of Award.
The
Company hereby grants to the Participant, as of the Grant Date specified above,
the Award specified above. Except as otherwise provided by Section 9.1 of the
Plan, the Participant agrees and understands that nothing contained in this
Agreement provides, or is intended to provide, the Participant with any
protection against potential future dilution of the Participant’s stockholder
interest in the Company for any reason.
3. Vesting.
3.1 The
Award
covered by this grant shall become unrestricted and fully vested on
_____________________, provided the Participant is then employed by the Company
and/or one of its Subsidiaries or serves as a director of the Company and/or
one
of its Subsidiaries.
3.2 If
the
Participant’s employment with the Company and/or its Subsidiaries terminates for
any reason (other than due to Disability, Retirement or death) prior to the
vesting of all or any portion of the Award covered by this Agreement, such
unvested Award shall immediately be cancelled and the Participant (and the
Participant’s estate, designated beneficiary or other legal representative)
shall forfeit any rights or interests in and with respect to any such unvested
Award. The Board or the Committee, in its sole discretion, may determine, prior
to or within ninety (90) days after the date
