Exhibit 10.15

                            STOCK OPTION AGREEMENT
                               FOR THE GRANT OF
                       INCENTIVE STOCK OPTIONS UNDER THE
                                 BNCCORP, INC.
                           1995 STOCK INCENTIVE PLAN


      THIS  AGREEMENT  is entered  into as of  January  2,1998,  by and  between
BNCCORP, INC., a Delaware corporation (the "Company"), and Name ("Optionee").

     WHEREAS Optionee is a key employee of the Company and the Company considers
it desirable  and in its best  interest  that Optionee be given an inducement to
acquire a  proprietary  interest in the Company and an  incentive to advance the
interests  of the  Company by  possessing  an option to  purchase  shares of the
common  stock of the Company,  $.01 par value per share (the "Common  Stock") in
accordance with the BNCCORP, Inc. 1995 Stock Incentive Plan (the "Plan").

      NOW,  THEREFORE,  in  consideration  of the premises,  it is agreed by and
between the parties as follows:

                                      I.

                                Grant of Option

      The Company hereby grants to Optionee effective January 2, 1998 (the "Date
of Grant") the right,  privilege and option to purchase  Shares shares of Common
Stock (the "Option") at an exercise price equal to the closing price of BNCCORP,
Inc.  common stock as listed on the NASDAQ at the close of the market on January
2, 1998 of $17.00.  The Option  shall be  exercisable  at the time  specified in
Section II below.  The Option is an incentive  stock option under Section 422 of
the  Internal  Revenue  Code of 1986,  as amended  (the "Code") and shall not be
treated as a non-qualified stock option.

                                      II.

                               Time of Exercise

      2.1 Subject to the provisions of the Plan and the other provisions of this
Section II, and provided  that the Optionee  remains  employed by the Company on
the dates the Option  becomes  exercisable,  the  Optionee  shall be entitled to
exercise the Option as follows:

            a. During the period  beginning  on the Date of Grant and ending one
      year after the Date of Grant,  Optionee is not  entitled  to exercise  any
      portion of the Option.

            b. During the period  beginning one year after the Date of Grant and
      ending two years after the Date of Grant, Optionee is entitled to exercise
      the Option to purchase  20% of the total  number of shares  covered by the
      Option.




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            c. During the period beginning two years after the Date of Grant and
      ending  three  years  after the Date of Grant,  Optionee  is  entitled  to
      exercise the Option to purchase 40% of the total number of shares  covered
      by the Option, less any shares previously purchased.

            d. During the period  beginning  three years after the Date of Grant
      and ending  four years  after the Date of Grant,  Optionee  is entitled to
      exercise the Option to purchase 60% of the total number of shares  covered
      by the Option, less any shares previously purchased.

            e.  During the period  beginning  four years after the Date of Grant
      and ending  five years  after the Date of Grant,  Optionee  is entitled to
      exercise the Option to purchase 80% of the total number of shares  covered
      by the Option, less any shares previously purchased.

            f.  During the period  beginning  five years after the Date if Grant
      and ending ten years  after the Date of Grant,  Optionee  is  entitled  to
      exercise the Option to purchase 100% of the total number of shares covered
      by the Option, less any shares previously purchased.

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

      2.2 During Optionee's lifetime, the Option may be exercised only by him or
his guardian if he has been declared  incompetent.  If Optionee's  employment is
terminated,  other  than as a result of death,  disability  or  retirement,  the
Option must be exercised,  to the extent  exercisable at the time of termination
of employment,  within 30 days of the date on which he ceases to be an employee,
except that the Committee may upon request  extend the period after  termination
of employment  during which the Option may be  exercised,  but in no event later
than ten years after the date of grant.

      2.3 If an Optionee ceases to be an employee  because of disability  within
the meaning of Section  22(e)(3) of the Code,  the Option must be exercised,  to
the  extent  otherwise  exercisable,  within  one year from the date on which he
ceases to be an employee, but in no event later than ten years after the date of
grant.

      2.4 In the event of Optionee's  death while  employed by the Company,  the
Option  must be  exercised  by his  estate,  or by the person to whom such right
evolves from him by reason of his death,  to the extent  otherwise  exercisable,
within  one year from the date of death,  but in no event  later  than ten years
after the date of grant.

      2.5 In the  event of the  Optionee's  retirement  from the  employ  of the
Company,  the Option must be  exercised,  to the extent  otherwise  exercisable,
within  one year from the date of  retirement,  but in no event  later  than ten
years after the date of grant.

                                     III.

                         Method of Exercise of Option

      3.1 Optionee may exercise all or a portion of the Option by  delivering to
the Company a signed  written  notice of his  intention  to exercise the Option,
specifying  therein the number of shares to be purchased.  Upon  receiving  such
notice, and after the Company has received full payment of the




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Exercise Price, the appropriate  officer of the Company shall cause the transfer
of title of the shares pur chased to Optionee on the Company's stock records and
cause to be issued to  Optionee  a stock  certificate  for the  number of shares
being  acquired.  Optionee shall not have any rights as a shareholder  until the
stock certificate is issued to him.

      3.2 The Option may be exercised  by the payment of the  Exercise  Price in
cash, in shares of Common Stock held for six months or in a combination  of cash
and shares of Common  Stock held for six months.  The  Optionee may also pay the
Exercise Price by delivering a properly  executed  exercise notice together with
irrevocable  instructions  to a broker  approved by the  Compensation  Committee
(with a copy to the  Company) to  promptly  deliver to the Company the amount of
sale or loan proceeds to pay the Exercise Price.

                                      IV.

                      No Contract of Employment Intended

      Subject  to the terms of any  Employment  Agreement  that may be in effect
from time to time,  nothing in this  Agreement  shall  confer upon  Optionee any
right to continue in the  employment of the Company or any of its  subsidiaries,
or to  interfere  in  any  way  with  the  right  of the  Company  or any of its
subsidiaries to terminate Optionee's employment relationship with the Company or
any of its subsidiaries at any time.

                                      V.

                                Binding Effect

      This  Agreement  shall  inure to the  benefit of and be  binding  upon the
parties  hereto  and  their  respective  heirs,  executors,  administrators  and
successors.

                                      VI.

                              Non-Transferability

      The Option granted  hereby may not be  transferred,  assigned,  pledged or
hypothecated in any manner, by operation of law or otherwise, other than by will
or by the  laws  of  descent  and  distribution  and  shall  not be  subject  to
execution, attachment or similar process.














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                                     VII.

                            Inconsistent Provisions

      The Option  granted  hereby is subject to the provisions of the Plan as in
effect on the date hereof and as it may be amended.  In the event any  provision
of this  Agreement  conflicts  with  such a  provision  of the  Plan,  the  Plan
provision shall control.

      IN WITNESS  WHEREOF the parties  hereto have caused this  Agreement  to be
executed on the day and year first above written.

                                    BNCCORP, INC.


                                    By: /s/ Jerry Woodcox
                                        Jerry Woodcox, Member
                                        of the Compensation Committee



                                    Name
                                    Optionee