Wilshire Bancorp, Inc.
2008 Stock Incentive Plan
Notice of Stock Option Grant
You
have been granted the following option to purchase shares of
the Common Stock of Wilshire Bancorp, Inc. (the
“Company”):
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Name
of Optionee:
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_______________
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Total
Number of Shares:
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_______________
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Type
of Option:
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_______________
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Exercise
Price Per Share:
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_______________
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Date
of Grant:
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_______________
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Vesting
Commencement
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_______________
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Date:
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Vesting
Schedule:
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This
option becomes exercisable with respect to __________% of the
Shares on the Vesting Commencement Date. Thereafter, this
option becomes exercisable with respect to an additional
______% of the Shares subject to this option on each
anniversary of the Date of Grant.
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Expiration
Date:
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The
last business day prior to _____________. This option expires
earlier if your Service terminates earlier, as described in
the Stock Option Agreement.
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You
and the Company agree that this option is granted under and
governed by the terms and conditions of this Notice of Stock
Option Grant (the “Notice”), the 2008 Stock
Incentive Plan (the “Plan”), and the Stock Option
Agreement. The Plan and Stock Option Agreement are both
attached to and made an integral part of this
Notice.
You
further agree that the Company may deliver by email all
documents relating to the Plan or this option and all other
documents that the Company is required to deliver to its
security holders (including, without limitation, annual
reports and proxy statements). You also agree that the Company
may deliver these documents by posting them on a web site
maintained by the Company or by a third party under contract
with the Company. If the Company posts these documents on a
web site, it will notify you by email.
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Wilshire Bancorp, Inc.
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Joanne
Kim, President & CEO
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Wilshire Bancorp, Inc.
2008 Stock Incentive Plan
Stock Option Agreement
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Tax Treatment
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This
option is intended to be an incentive stock option under
section 422 of the Internal Revenue Code or a
nonstatutory stock option, as provided in the Notice of Stock
Option Grant.
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Vesting
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This
option becomes exercisable in installments, as shown in the
Notice of Stock Option Grant. In addition, this option becomes
exercisable in full if either of the following events
occurs:
·
Your
Service terminates because of retirement at or after
age 65, total and permanent disability, or death,
or
·
The
Company is subject to a “Change in Control” (as
defined in the Plan) before your Service terminates, and you
are subject to an “Involuntary Termination” (as
defined in the Plan) within 12 months after the Change in
Control.
This
option will in no event become exercisable for additional
shares after your Service has terminated for any
reason.
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Term
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This
option expires in any event at the close of business at
Company headquarters on the last business day before the
5
th anniversary
of the Date of Grant, as shown in the Notice of Stock Option Grant.
(It will expire earlier if your Service terminates, as described
below.)
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Regular Termination
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If
your Service terminates for any reason except involuntary
termination for cause, death or total and permanent
disability, then this option will expire at the close of
business at Company headquarters on the last business day
prior to the date that is three months after your termination
date. The Company determines when your Service terminates for
this purpose.
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Involuntary Termination
for Cause
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If
your Service is involuntary terminated by the Company for
cause, then this option will expire immediately.
For
the purposes of this Agreement, “for cause” shall
mean shall mean termination as a result of personal
dishonesty, incompetence, willful misconduct, breach of
fiduciary duty involving personal profit, intentional failure
to perform stated duties, willful violation of any law, rule
or regulation (other than traffic violations or similar
offenses) or any final cease-and-desist order, or material
breach of any provision of your employment agreement (if
any).
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Death
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If
you die before your Service terminates, then this option will
expire at the close of business at Company headquarters on the
last business day prior to the date 12 months after the date
of death.
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Disability
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If
your Service terminates because of your total and permanent
disability, then this option will expire at the close of
business at Company headquarters on the last business date
that is prior to the date 12 months after your termination
date.
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For
all
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