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Exhibit 10.11.1
 

C&F FINANCIAL CORPORATION
AMENDMENT TO INCENTIVE STOCK OPTION AGREEMENT
September 20, 2011  

 
 
To:           <<Name of Employee>>
 
The Compensation Committee (the “Committee”) of the Board of Directors of C&F
Financial Corporation (the “Company”) has the authority to modify awards
previously granted under the 1994 Incentive Stock Plan and the 2004 Incentive
Stock Plan (either, the “Plan”), consistent with the terms of such Plan, and may
do so without the consent of the award recipient provided the modification does
not adversely affect the rights or obligations of the recipient.

The Committee has determined to amend the terms of the stock option awards
listed below to remove the provision that upon exercise of the stock option, the
recipient receives stock that is restricted (i.e., forfeitable) for six months
following such exercise.  The Committee has determined that removing this
restriction does not adversely affect your rights or obligations.

Effective September 20, 2011, each of the Incentive Stock Option Agreement(s)
representing stock options awarded to you under the Plan on the Grant Date(s)
listed below is amended as indicated below:
 
Grant Date
Number of Shares
of the Company’s
Common Stock
Exercise Price

 

The Incentive Stock Option Agreement(s) listed above is(are) amended to add a
new paragraph 5(d) as follows:

“(d)           Effective September 20, 2011, paragraphs 5(a)-(c) shall cease to
apply to this option.  Any shares of Common Stock previously acquired through
the exercise of this option bearing the legend referenced in paragraph 5(c)
shall have such legend removed as promptly as practicable.”
 
To evidence this amendment, the Company has signed this Amendment to Incentive
Stock Option Agreement as of the date first above written. You do not need to
sign this Amendment to Incentive Stock Option Agreement for it to be effective.

If you have any questions about your stock option awards or this Amendment,
please contact [Name of Contact] by phone at (804) 843-2364 [Contact Extension]
or by email at [Contact Email].
 
 

 
COMPANY: C&F FINANCIAL CORPORATION
       
 
By:
             
its:
   

 
 

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