Exhibit 10.29(b)






EXHIBIT 10.29(b)




MARINEMAX, INC.




2011 Stock-Based Compensation Plan




Stock Option Agreement




Unless otherwise defined herein, the terms defined in the 2011 Stock-Based Compensation Plan
shall have the same defined meanings in this Stock Option Agreement.



I. NOTICE OF STOCK OPTION GRANT




	 	 	 	 	 

	Optionee Name:
	 	 	 	 
	 

	 	 	 
	 
	 	 	 	 
	Address:
	 	 	 	 
	 

	 

	 	 






The Optionee (as designated above) has been granted an Option to purchase Common Stock of the
Company, subject to the terms and conditions of the Plan and this Option Agreement, as follows:



	 	 	 	 	 	 	 

	Date of Grant:
	 	 	 	 	 	 
	 

	 	 
	 
	 	 	 	 	 	 
	Vesting Commencement Date:
	 	 	 	 	 	 
	 

	 	 
	 
	 	 	 	 	 	 
	Exercise Price per Share:

	$	 	 	 	 	 
	 

	 	 
	 
	 	 	 	 	 	 
	Total Number of Shares Granted:
	 	 	 	 	 	 
	 

	 	 
	 
	 	 	 	 	 	 
	Total Exercise Price:
	 	 	 	 	 	 
	 

	 	 
	 
	 	 	 	 	 	 
	Type of Option:

	 	 Incentive Stock Option	 
	 

	 	 Nonstatutory Stock Option	 






Expiration Date: As provided in Section 3 of the Stock Option Plan.



Exercise Schedule: The Option shall be exercisable to the extent vested and outstanding. The
Option may not be exercised after it has expired (as determined pursuant to Section 3 of the Stock
Option Agreement).



Vesting Schedule: This Option shall be vested according to the following vesting schedule:



The Option shall vest as to [                    ] subject to Optionee continuing to
be a Service Provider on such dates, so that the Option shall be fully vested on the [                    ] anniversary of the Vesting Commencement Date.


 


 









 





II. STOCK OPTION AGREEMENT




1. Grant of Option. The Administrator of the Company hereby grants to the Optionee
named in the Notice of Stock Option Grant (the “Optionee”), an option (the “Option”) to purchase
the number of Shares set forth in the Notice of Stock Option Grant, at the exercise price per Share
set forth in the Notice of Stock Option Grant (the “Exercise Price”), and subject to the terms and
conditions of the Plan, which is incorporated herein by reference. Subject to Section 10(c) of the
Plan, in the event of a conflict between the terms and conditions of the Plan and this Option
Agreement, the terms and conditions of the Plan shall prevail.



If designated in the Notice of Stock Option Grant as an Incentive Stock Option (“ISO”), this
Option is intended to qualify as an Incentive Stock Option as defined in Section 422 of the Code.
Nevertheless, to the extent that the Option exceeds the $100,000 rule of Code Section 422(d), this
Option shall be treated as a Nonstatutory Stock Option (“NSO”).



2. Exercise of Option.



(a) Right to Exercise. This Option shall be exercisable during its term in accordance
with the Exercise Schedule set out in the Notice of Stock Option Grant and with the applicable
provisions of the Plan and this Option Agreement.



(b) Method of Exercise. This Option shall be exercisable by delivery of an exercise
notice in the form attached as Exhibit A (the “Exercise Notice”) which shall state the
election to exercise the Option, the number of Shares with respect to which the Option is being
exercised, and such other representations and agreements as may be required by the Company.



The Option shall be deemed exercised when the Company receives (i) written or electronic
notice of exercise (in accordance with this Option Agreement) from the Optionee (or other person
entitled to exercise the Option), (ii) full payment for the Shares with respect to which the Option
is exercised, (iii) payment of any required tax withholding; and (iv) any other documents required
by this Option Agreement or the Exercise Notice. Full payment may consist of any consideration and
method of payment permitted by this Option Agreement. Shares issued upon exercise of an Option
shall be issued in the name of the Optionee or, if requested by the Optionee and permitted under
applicable law, in the name of the Optionee and his or her spouse. Until the Shares are issued (as
evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer
agent of the Company), no right to vote or receive dividends or any other rights as a stockholder
shall exist with respect to the Shares, notwithstanding the exercise of the Option. The Company
shall issue (or cause to be issued) such Shares promptly after the Option is exercised. No
adjustment will be made for a dividend or other right for which the record date is prior to the
date the Shares are issued, except as provided in Section 10(c) of the Plan.



Exercise of this Option in any manner shall result in a decrease in the number of Shares
thereafter available for sale under the Option, by the number of Shares as to which the Option is
exercised.


 


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(c) Legal Compliance. No Shares shall be issued pursuant to the exercise of an Option
unless such issuance and such exercise complies with Applicable Laws. Assuming such compliance, for
income tax purposes the Shares shall be considered transferred to the Optionee on the date on which
the Option is exercised with respect to such Shares. This Option may not be exercised until such
time as the Plan has been approved by the stockholders of the Company.



(d) Vesting Acceleration. The Option shall vest on an accelerated basis to the extent
provided in any employment, change in control or other agreement documenting such vesting
acceleration between Optionee and the Company that would be applicable to this Option.



3. Term. Optionee may not exercise the Option before the commencement of its term or
after its term expires. During the term of the Option, Optionee may only exercise the Option to the
extent vested. The term of the Option commences on the Date of Grant and expires on the Expiration
Date, which is the earliest of the following:



(a) With respect to the unvested portion of the Option, upon termination of Optionee’s
Continuous Service;



(b) With respect to the vested portion of the Option, ninety (90) days after the termination
of Optionee’s Continuous Service for any reason other than your Disability, death or termination
for Cause;



(c) With respect to the vested portion of the Option, immediately upon the termination of
Optionee’s Continuous Service for Cause, as determined by the Administrator, in its sole
discretion;



(d) With respect to the vested portion of the Option, twelve (12) months after the termination
of Optionee’s Continuous Service due to Disability or Death;



(e) Immediately prior to the close of certain Corporate Transactions, pursuant to Section 9 of
the Plan; or



(f) The day before the tenth (10th) anniversary of the Date of Grant.



4. Method of Payment. Payment of the aggregate Exercise Price shall be by any of the
following, or a combination thereof, at the election of the Optionee:



(a) cash or check;



(b) subject to the Company’s approval at the time of exercise, consideration received by the
Company under a formal cashless exercise program adopted by the Company in connection with the
Plan;



(c) subject to the Company’s approval at the time of exercise, surrender of other Shares
which, (i) in the case of Shares acquired from the Company, either directly or indirectly, have
been owned by the Optionee for such period of time on the date of surrender that will avoid an
expense for financial accounting purposes, and (ii) have a Fair Market Value on the
date of surrender equal to the aggregate Exercise Price of the Exercised Shares. Shares from
the portion of this Option to be exercised may be used to pay the exercise price to the extent that
such use will not increase the compensation expense for financial accounting purposes related to
this Option; or



(d) any combination of the foregoing.


 


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5. Lock-Up Period. Optionee hereby agrees that Optionee shall not offer, pledge,
sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to
sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of,
directly or indirectly, any Common Stock (or other securities) of the Company or enter into any
swap, hedging or other arrangement that transfers to another, in whole or in part, any of the
economic consequences of ownership of any Common Stock (or other securities) of the Company held by
Optionee (other than those included in the registration) for a period specified by the
representative of the underwriters of Common Stock (or other securities) of the Company not to
exceed one hundred eighty (180) days following the effective date of any registration statement of
the Company filed under the Securities Act.



Optionee agrees to execute and deliver such other agreements as may be reasonably requested by
the Company or the underwriter which are consistent with the foregoing or which are necessary to
give further effect thereto. In addition, if requested by the Company or the representative of the
underwriters of Common Stock (or other securities) of the Company, Optionee shall provide, within
ten (10) days of such request, such information as may be required by the Company or such
representative in connection with the completion of any public offering of the Company’s securities
pursuant to a registration statement filed under the Securities Act. The obligations described in
this Section shall not apply to a registration relating solely to employee benefit plans on Form
S-1 or Form S-8 or similar forms that may be promulgated in the future, or a registration relating
solely to a Commission Rule 145 transaction on Form S-4 or similar forms that may be promulgated in
the future. The Company may impose stop-transfer instructions with respect to the shares of Common
Stock (or other securities) subject to the foregoing restriction until the end of said one hundred
eighty (180) day period. Optionee agrees that any transferee of the Option or shares acquired
pursuant to the Option shall be bound by this Section.



6. Non-Transferability of Option. This Option may not be transferred in any manner
otherwise than by will or by the laws of descent or distribution and may be exercised during the
lifetime of Optionee only by Optionee. The terms of the Plan and this Option Agreement shall be
binding upon the executors, administrators, heirs, successors and assigns of the Optionee. In no
event may this Option be transferred to a third party in exchange for consideration.



7. Tax Obligations.



(a) Withholding Taxes. Optionee agrees to make appropriate arrangements with the
Company (or the Parent or Subsidiary employing or retaining Optionee) for the satisfaction of all
Federal, state, local and foreign income and employment tax withholding requirements applicable to
the Option exercise. Optionee acknowledges and agrees that the
Company may refuse to honor the exercise and refuse to deliver Shares if such withholding
amounts are not delivered at the time of exercise.


 


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The Company, in its sole discretion, and in compliance with any Applicable Laws, may withhold
from fully vested Shares otherwise deliverable to Optionee upon the exercise of the Option a number
of whole Shares having a Fair Market Value, as determined by the Company as of the date the
Optionee recognizes income with respect to those Shares, not in excess of the amount of minimum tax
required to be withheld by law (or such other amount as may be necessary to avoid adverse financial
accounting treatment). Any adverse consequences to Optionee arising in connection with such Stock
withholding procedure shall be the Optionee’s sole responsibility.



(b) Notice of Disqualifying Disposition of ISO Shares. If the Option granted to
Optionee herein is an ISO, and if Optionee sells or otherwise disposes of any of the Shares
acquired pursuant to the ISO on or before the later of (1) the date two years after the Date of
Grant, or (2) the date one year after the date of exercise, the Optionee shall immediately notify
the Company in writing of such disposition. Optionee agrees that Optionee may be subject to income
tax withholding by the Company on the compensation income recognized by the Optionee.



8. Entire Agreement; Governing Law. The Plan is incorporated herein by reference.
The Plan and this Option Agreement constitute the entire agreement of the parties with respect to
the subject matter hereof and supersede in their entirety all prior undertakings and agreements of
the Company and Optionee with respect to the subject matter hereof, and may not be modified
adversely to the Optionee’s interest except by means of a writing signed by the Company and
Optionee. This agreement is governed by the internal substantive laws but not the choice of law
rules of Florida.



9. No Guarantee of Continued Service. Optionee acknowledges and agrees that the
vesting of shares pursuant to the vesting schedule hereof is earned only by continuing as a Service
Provider at the will of the Company (not through the act of being hired, being granted this Option
or acquiring shares hereunder). Optionee further acknowledges and agrees that this Agreement, the
transactions contemplated hereunder and the vesting schedule set forth herein do not constitute an
express or implied promise of continued engagement as a Service Provider for the vesting period,
for any period, or at all, and shall not interfere in any way with Optionee’s right or the
company’s right to terminate Optionee’s relationship as a Service Provider at any time, with or
without cause.



[The remainder of this page had been intentionally left blank.]



 


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Optionee acknowledges receipt of a copy of the Plan and represents that he or she is familiar
with the terms and provisions thereof, and hereby accepts this Option subject to all of the terms
and provisions thereof. Optionee has reviewed the Plan and this Option in their entirety, has had
an opportunity to obtain the advice of counsel prior to executing this Option and fully understands
all provisions of the Option. Optionee hereby agrees to accept as binding, conclusive and final all
decisions or interpretations of the Administrator upon any questions arising under the Plan or this
Option. Optionee further agrees to notify the Company upon any change in the residence address
indicated below.



	 	 	 

	OPTIONEE

	 	MARINEMAX, INC.
	 
	 	 
	 

	 	 
	Signature

	 	By
	 
	 	 
	 

	 	 
	Print Name

	 	Title
	 
	 	 
	 


	 	 
	 
	 	 
	 


	 	 
	Residence Address
	 	 






[Signature Page of Stock Option Agreement]



 


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EXHIBIT A




MARINEMAX, INC.

2011 STOCK-BASED COMPENSATION PLAN




EXERCISE NOTICE




MarineMax, Inc.

18167 US Highway 19 North, Suite 300

Clearwater, FL 33764




Attention:




1. Exercise of Option. Effective as of today,                     ,                     , the
undersigned (“Optionee”) hereby elects to exercise
Optionee’s option to purchase                     _____ shares of
the Common Stock (the “Shares”) of MarineMax, Inc. (the “Company”) under and pursuant to the 2011
Stock-Based Compensation Plan (the “Plan”) and the Stock Option Agreement dated                     ,
                     (the “Option Agreement”).



2. Delivery of Payment and Required Documents. Optionee herewith delivers to the
Company the full purchase price of the Shares, as set forth in the Option Agreement, and any and
all withholding taxes due in connection with the exercise of the Option. In addition, Optionee
delivers any other documents required by the Company.



3. Representations of Optionee. Optionee acknowledges that Optionee has received,
read and understood the Plan and the Option Agreement and agrees to abide by and be bound by their
terms and conditions.



4. Rights as Stockholder. Until the issuance of the Shares (as evidenced by the
appropriate entry on the books of the Company or of a duly authorized transfer agent of the
Company), no right to vote or receive dividends or any other rights as a stockholder shall exist
with respect to the Optioned Stock, notwithstanding the exercise of the Option. The Shares shall
be issued to the Optionee as soon as practicable after the Option is exercised in accordance with
the Option Agreement. No adjustment shall be made for a dividend or other right for which the
record date is prior to the date of issuance except as provided in Section 10(c) of the Plan.



5. Tax Consultation. Optionee understands that Optionee may suffer adverse tax
consequences as a result of Optionee’s purchase or disposition of the Shares. Optionee represents
that Optionee has consulted with any tax consultants Optionee deems advisable in connection with
the purchase or disposition of the Shares and that Optionee is not relying on the Company for any
tax advice.



 


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6. Restrictive Legends and Stop-Transfer Orders.



(a) Legends. Optionee understands and agrees that the Company shall cause the
legends set forth below or legends substantially equivalent thereto, to be placed upon any
certificate(s) evidencing ownership of the Shares together with any other legends that may be
required by the Company or by state or federal securities laws:



[THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON TRANSFER FOR A
PERIOD NOT TO EXCEED 180 DAYS FOLLOWING THE EFFECTIVE DATE OF THE UNDERWRITTEN PUBLIC OFFERING OF
THE COMPANY’S SECURITIES AND MAY NOT BE SOLD OR OTHERWISE DISPOSED OF BY THE HOLDER WITHOUT THE
CONSENT OF THE COMPANY OR THE MANAGING UNDERWRITER.]



(b) Stop-Transfer Notices. Optionee agrees that, in order to ensure compliance with
the restrictions referred to herein, the Company may issue appropriate “stop transfer” instructions
to its transfer agent, if any, and that, if the Company transfers its own securities, it
may make appropriate notations to the same effect in its own records.



(c) Refusal to Transfer. The Company shall not be required (i) to transfer on its
books any Shares that have been sold or otherwise transferred in violation of any of the provisions
of this Exercise Notice or (ii) to treat as owner of such Shares or to accord the right to vote or
pay dividends to any purchaser or other transferee to whom such Shares shall have been so
transferred.



7. Successors and Assigns. The Company may assign any of its rights under this
Exercise Notice to single or multiple assignees, and this Exercise Notice shall inure to the
benefit of the successors and assigns of the Company. Subject to the restrictions on transfer
herein set forth, this Exercise Notice shall be binding upon Optionee and his or her heirs,
executors, administrators, successors and assigns.



8. Interpretation. Any dispute regarding the interpretation of this Exercise Notice
shall be submitted by Optionee or by the Company forthwith to the Administrator which shall review
such dispute at its next regular meeting. The resolution of such a dispute by the Administrator
shall be final and binding on all parties.



9. Governing Law; Severability. This Exercise Notice is governed by the internal
substantive laws but not the choice of law rules, of Florida. In the event that any provision
hereof becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or
void, this Option Agreement will continue in full force and effect.



	 





 


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10. Entire Agreement. The Plan and Option
Agreement are incorporated herein by reference. This
Exercise Notice, the Plan, the Option Agreement and the
Investment Representation Statement constitute the entire
agreement of the parties with respect to the subject
matter hereof and supersede in their entirety all prior
undertakings and agreements of the Company and Optionee
with respect to the subject matter hereof, and may not be
modified adversely to the Optionee’s interest except by
means of a writing signed by the Company and
Optionee.



	 	 	 

	OPTIONEE

	 	MARINEMAX, INC.
	 
	 	 
	 

	 	 
	Signature

	 	By
	 
	 	 
	 

	 	 
	Print Name

	 	Title
	 
	 	 
	 


	 	 
	 
	 	 
	 


	 	 
	Residence Address
	 	 





[Signature Page of Stock Option Exercise Notice]





 


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