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Exhibit 10(h)(xvi)
DIRECTOR / OFFICER
IDACORP, Inc.
2000 LONG-TERM INCENTIVE AND COMPENSATION
PLAN
NONQUALIFIED STOCK OPTION AGREEMENT
[Date]
[Name]
[Address]
In accordance with the terms of the IDACORP, Inc. 2000 Long-Term
Incentive and Compensation Plan (the "Plan"), pursuant to action of
the Compensation Committee of the Board of Directors, IDACORP, Inc.
(the "Company") hereby grants to you (the "Participant"), subject
to the terms and conditions set forth in this Option Award
Agreement (including Annex A hereto and all documents incorporated
herein by reference) the rights and options (the "Options") to
purchase from the Company common stock, as set forth below:
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Number of Nonqualified Stock Options:
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_________________
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Number of Shares of Common Stock
to which Options Pertain:
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_________________
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Date of Grant:
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_________________
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Option Exercise Price:
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$________________ per share
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Vesting:
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20% per year, commencing on the first anniversary of the Date of
Grant
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Expiration Date
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Close of business on _________________
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Exercise Period
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Date of Vesting through Expiration Date
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These optionS are subject to forfeiture as provided in annex a and
the plan.
[The Participant, in consideration of this grant of Options, by
affixing his signature hereto, specifically waives any rights he
may have under the definition of Change in Control, contained in
Section 2.5 of the Plan, as it was in effect prior to July 20,
2006, and hereby consents to the use of the definition of Change in
Control as amended on July 20, 2006, and to the amendments made to
Article 14 of the Plan on July 20, 2006, in connection with any
awards made pursuant to the Plan and still outstanding on the date
hereof.]
NYA 519943.1 37652 00308 10/31/2006 02:03pm
Further terms and conditions of the Award are set forth in Annex A
hereto, which is an integral part of this Option Award
Agreement
All terms, provisions and conditions applicable to the Awards set
forth in the Plan and not set forth herein are hereby incorporated
by reference herein. To the extent any provision hereof is
inconsistent with a provision of the Plan, the provisions of the
Plan will govern. The Participant hereby acknowledges receipt
of a copy of this Option Award Agreement including Annex A hereto
and a copy of the Plan and agrees to be bound by all the terms and
provisions hereof and thereof.
Agreed :
_____________________________
Attachment: Annex A
2
ANNEX A
TO
IDACORP, Inc.
2000 LONG-TERM INCENTIVE AND COMPENSATION
PLAN
NONQUALIFIED STOCK OPTION AWARD AGREEMENT
1.
Further Terms and Conditions of Options . It is
understood and agreed that the Award of Options evidenced by the
Option Award Agreement to which this is annexed is subject to the
following additional terms and conditions:
A.
Exercise of Options . After vesting, the Options may
be exercised in whole or in part from time to time by written
notice of exercise delivered to IDACORP, Inc., at the address set
forth below, such notice to be received and effective not later
than the close of business on the Expiration Date, specifying the
number of shares of common stock to be purchased.&
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