Exhibit 10.24

 

February 22, 2005

 

John H. Doe

111 Somewhere Street

Richmond, VA 22222

 

Dear John:

 

You have been granted a nonqualified stock option to purchase 1,000 shares of
Common Stock of the Company, subject to the terms and conditions (i) in the
Company’s 2000 Stock Incentive Plan, as amended from time to time (the “Plan”),
and (ii) as set forth in Exhibit A, attached hereto and made a part hereof
(together, with this letter, the “Agreement”), as follows:

 

Date of Agreement/Grant:     

February 7, 2005

     Exercise Price Per Share:     

$33.06

     Total Exercise Price:     

$33,060.00

     Expiration Date:     

2/7/2012

     Vesting Schedule:     

25% per year for 4 years

           

1,500 on 02/07/2006

           

1,500 on 02/07/2007

           

1,500 on 02/07/2008

           

1,500 on 02/07/2009

    

 

Please indicate your acceptance by executing two (2) original copies of this
Agreement and returning one (1) copy by U.S. Mail to Gwynn Noble.

 

Very truly yours,

Martin L. Vaughan, III

Chairman and Chief Executive Officer

 

By my signature below, I hereby acknowledge my Consent to Electronic Delivery,
receipt of this Option, pursuant to all terms and conditions of the Plan, and
electronic receipt of the Plan and Prospectus. I agree to conform to all of the
terms and conditions of the Option and the Plan.

 

Signature:

 

 

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Date:

 

 

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John H. Doe

       

 

Note: If there are any discrepancies in the name or address shown above, please
make the appropriate corrections on this form.

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NONQUALIFIED STOCK OPTIONS

FOR NAMED EXECUTIVE OFFICERS

 

   

GRANT DATE

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OPTIONS GRANTED

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Martin L. Vaughan, III

  2/7/05   50,000

Robert B. Lockhart

  2/7/05   24,000

Timothy J. Korman

  2/7/05   18,000

John P. McGrath

  2/7/05   14,500

Thomas Stiles

  2/7/05   14,500