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WINN-DIXIE STORES, INC. EQUITY INCENTIVE PLAN FORM OF NON-QUALIFIED STOCK OPTION AWARD AGREEMENT THIS AGREEMENT is made by and between WINN-DIXIE STORES, INC. , a Florida corporation (the "Company"), and , ("Optionee"), as of , 200

Option Agreement

WINN-DIXIE STORES, INC. EQUITY INCENTIVE PLAN FORM OF NON-QUALIFIED STOCK OPTION AWARD AGREEMENT THIS AGREEMENT is made by and between WINN-DIXIE STORES, INC. , a Florida corporation (the You are currently viewing:
This Option Agreement involves

WINN-DIXIE STORES, INC

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Title: WINN-DIXIE STORES, INC. EQUITY INCENTIVE PLAN FORM OF NON-QUALIFIED STOCK OPTION AWARD AGREEMENT THIS AGREEMENT is made by and between WINN-DIXIE STORES, INC. , a Florida corporation (the "Company"), and , ("Optionee"), as of , 200
Governing Law: Florida     Date: 12/21/2006
Industry: Retail (Grocery)     Sector: Services

WINN-DIXIE STORES, INC. EQUITY INCENTIVE PLAN FORM OF NON-QUALIFIED STOCK OPTION AWARD AGREEMENT THIS AGREEMENT is made by and between WINN-DIXIE STORES, INC. , a Florida corporation (the
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Exhibit 10.2

WINN-DIXIE STORES, INC.

EQUITY INCENTIVE PLAN

FORM OF NON-QUALIFIED STOCK OPTION AWARD AGREEMENT

THIS AGREEMENT is made by and between WINN-DIXIE STORES, INC. , a Florida corporation (the "Company"), and                      , ("Optionee"), as of              , 200_.

RECITALS

A. The Company has adopted and approved the Winn-Dixie Stores, Inc. Equity Incentive Plan (the "Plan"), a copy of which is attached to this Agreement; and

B. The Committee appointed to administer the Plan has determined that Optionee is eligible to participate in the Plan and that it would be to the advantage and best interest of the Company and its stockholders to grant the Option provided for herein to Optionee; and

C. This Agreement is prepared in conjunction with and under the terms of the Plan. Terms used herein but not otherwise defined herein shall have the meanings ascribed to such terms in the Plan; and

D. Optionee has accepted the grant of the Option and agreed to the terms and conditions hereinafter stated.

NOW THEREFORE, IN CONSIDERATION OF THE FOREGOING RECITALS AND OF THE PROMISES AND CONDITIONS HEREIN CONTAINED, IT IS AGREED AS FOLLOWS:

ARTICLE I

GRANT OF OPTION

Section 1.1 - Grant of Option.

Subject to the provisions of this Agreement and the provisions of the Plan, the Company has granted effective [INSERT GRANT DATE] (the "Effective Date") to Optionee the right and option to purchase all or any part of [INSERT NUMBER OF SHARES] shares of the Company’s common stock, par value $.001 per share ("Stock"). The Option granted pursuant to this Agreement is not intended to qualify as an "incentive stock option" within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended (the "Code").

 

         

  

P AGE 2

  

 


Section 1.2 - Exercise Price.

The exercise price of the Option for each share of Stock subject to the Option shall be equal to $[•] per share of Stock subject to the Option.

ARTICLE II

VESTING AND EXERCISABILITY

Section 2.1 - Vesting and Exercisability.

(a) Vesting Schedule. Except as otherwise provided herein or in the Plan, the Option shall become 100 percent vested on June 30, 200_, if Optionee has continuously provided services to the Company, a Subsidiary or Affiliate or has been continuously employed by the Company, a Subsidiary or Affiliate until such date. Prior to becoming 100 percent vested, the Option shall become exercisable in three cumulative installments as follows and shall remain exercisable until the seventh anniversary of the date of grant (the "Option Term"), subject to the forfeiture provisions set forth in Section 2.2(a):

 

 

         

%

 

Number of Shares

 

Date First Available
For Exercise

33%

 

[        ]

 

[June 30, 200_]

33%

 

[        ]

 

[June 30, 200_]

34%

 

[        ]

 

[June 30, 200_]



(b) Accelerated Vesting. If during the Option Term a Change in Control occurs, the Option shall become 100 percent vested and exercisable (regardless of the extent to which such Option was then vested) as of the date of such Change in Control, notwithstanding any other provisions of the Plan or this Agreement.

(c) Post-Termination Vesting. If during the Option Term the Optionee’s employment or service terminates as a result the Company’s termination of the Optionee without Cause (other than as a result of death or Disability) or the Optionee’s resignation for Good Reason and the Optionee continues to comply with Section 4.3 of this Agreement, the Option shall continue to vest pursuant to Section 2.1(a) following the date of such termination of the Optionee’s employment or service, and the Optionee shall have the remainder of the Option Term to exercise such Option. For purposes of this Agreement, "Disability" means (i) the Grantee’s inability to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, (ii) the Grantee is, by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, receiving income replacement benefits for a period of not less than three months under an accident or health plan covering employees of the Company or (iii) the Grantee’s inability due to any physical or mental impairment to perform his substantial job functions for a period of 180 days during any 365 day period. For purp


 
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