Back to top

STOCK OPTION AGREEMENT UNDER THE IBERIABANK CORPORATION 2008 STOCK INCENTIVE PLAN

Option Agreement

STOCK OPTION AGREEMENT UNDER THE IBERIABANK CORPORATION 2008 STOCK INCENTIVE PLAN | Document Parties: IBERIABANK CORPORATION You are currently viewing:
This Option Agreement involves

IBERIABANK CORPORATION

. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here.
Title: STOCK OPTION AGREEMENT UNDER THE IBERIABANK CORPORATION 2008 STOCK INCENTIVE PLAN
Date: 8/11/2008
Industry: Regional Banks     Sector: Financial

50 of the Top 250 law firms use our Products every day

EXHIBIT 10.2

STOCK OPTION AGREEMENT

UNDER THE

IBERIABANK CORPORATION

2008 STOCK INCENTIVE PLAN

THIS AGREEMENT entered into as of, between IBERIABANK Corporation (“IBKC” or the “Company”) and                                          (“Optionee”) (the “Agreement”), in accordance with the terms of the IBERIABANK Corporation 2008 Stock Incentive Plan (the “Plan”). Capitalized terms shall have the same meaning as set forth in the Plan, unless the context clearly indicates otherwise.

1. Grant of Option

1.1 IBKC hereby grants to Optionee effective                          (the “Date of Grant”), the option to purchase up to                          shares of Common Stock (the “Option”) at an exercise price of $ per share (the “Exercise Price”). (1)  The Option shall vest, become exercisable and expire as provided in Section 2 below.

1.2 The Option is intended to be treated as an incentive stock option (an “ISO”) under Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”), unless designated herein as a non-qualified stock option (a “Non-ISO”). If the Option is designated as an ISO and is not eligible for such treatment, the ineligible portion shall be treated as a Non-ISO.

2. Time of Exercise

2.1 Subject to the provisions of the Plan and this Agreement, the Optionee shall be entitled to exercise the Option as follows:

 

 

 

 

Years of Continuous

Employment After Date of

Grant of Option

  

Percentage of Total

Shares Of Common Stock

Subject to Option Which

May be Exercised

After 1 year

  

14.286 (2)

After 2 years

  

28.572

After 3 years

  

42.858

After 4 years

  

57.144

After 5 years

  

71.430

After 6 years

  

85.716

After 7 years

  

100.000

 

(1)

The exercise price must be at least 100% of the Fair Market Value.

 

(2)

Option can be exercised to receive stock beginning one year from grant; however, you must hold the stock for two years from the date of the grant of the Option and for one year after exercise of the Option in order to receive most favorable tax treatment. Optionees should consult their own tax advisor in determining individual tax consequences.


2.2 The Option shall expire and may not be exercised later than ten years following the Date of Grant.

2.3 Notwithstanding the foregoing, the Option shall become accelerated and immediately exercisable in the event of Optionee’s termination of employment as a result of death or disability and in the event of a Change in Control as provided in Section 13(c) of the Plan.

2.4 The Option shall be exercised in the manner set forth in the Plan, using the exercise form attached hereto as Exhibit A . The exercise price may be paid in cash, check, Shares or through a cashless exercise program through a broker, all on the terms provided in the Plan.

3. Conditions for Exercise of Option

3.1 During Optionee’s lifetime, the Option may be exercised only by the Optionee or by the Optionee’s guardian or legal representative. The Option must be exercised while Optionee is employed by IBKC, or in the event of a termination of employment, for such period following termination under certain circumstances, as may be provided in Section 6(h) of the Plan. Notwithstanding the foregoing, no Option may be exercised more than ten years following the Date of Grant.

3.2 In the event the Optionee is discharged from the employ of IBKC or a subsidiary company for Cause, as defined in the Plan, the Optionee shall forfeit the right to exercise any portion of this Option, which shall be immediately null and void.

4. Additional Conditions

Anything in this Agreement to the contrary notwithstanding, if at any time IBKC further determines, in its sole discretion, that the listing, registration or qualification (or any updating of any such document) of the shares of Common Stock issuable pursuant to the exercise of an Option is necessary on any securities exchange or under any federal or state securities or blue sky law, or that the consent or approval of any governmental regulatory body is necessary or desirable as a condition of, or in connection with the issuance of shares of Common Stock pursuant thereto, or the removal of any restrictions imposed on such shares, such shares of Common Stock shall not be issued, in whole or in part, unless such listing, registration, qualification, consent or approval shall have been effected or obtained free of any conditions not acceptable to IBKC.


5. Taxes

5.1 IBKC may make such provisions as it may deem appropriate for the withholding of any federal, state and local taxes that it determines are required to be withheld on the exercise of the Option. By signing this Option, the Optionee agrees that he or she is solely responsible


SITE SEARCH

AGREEMENTS / CONTRACTS

Document Title:

Entire Document: (optional)

Governing Law:(optional)
 

CLAUSES

Search Contract Clauses >>

Browse Contract Clause Library>>

Close this window