EXHIBIT 10.1



 EXHIBIT 10.1 
  
 AMERICASBANK CORP. 
 2004 STOCK INCENTIVE PLAN 
  
 1. Establishment,
Purpose and Types of Awards. AMERICASBANK CORP., a Maryland corporation (the “Company”), hereby establishes the AMERICASBANK CORP. 2004 STOCK INCENTIVE PLAN (the “Plan”). The purpose of the Plan is to promote the long-term
growth and profitability of the Company and its subsidiaries by (i) providing key people with incentives to improve stockholder value and to contribute to the growth and financial success of the Company and its subsidiaries through their future
services, and (ii) enabling the Company and its subsidiaries to attract, retain and reward the best-available persons. 
  
 The Plan permits the granting of stock options (including incentive stock options qualifying under Code section 422 and nonstatutory stock options), stock
appreciation rights, restricted stock awards, phantom stock, performance awards, other stock-based awards, or any combination of the foregoing. 
  
 2. Definitions. Under the Plan, except where the context otherwise indicates, the following definitions apply: 
  
 “Administrator” means the Board or the committee(s) or officer(s)
appointed by the Board that have authority to administer the Plan as provided in Section 3 hereof. 
  
 “Affiliate” means any entity, whether now or hereafter existing, which controls, is controlled by, or is under common control with, the Company
(including, but not limited to, joint ventures, limited liability companies, and partnerships). For this purpose, “control” shall mean ownership of 50% or more of the total combined voting power or value of all classes of stock or
interests of the entity. 
  
 “Award” means any stock
option, stock appreciation right, stock award, phantom stock award, performance award, or other stock-based award pursuant to the Plan. 
  
 “Bank” means AmericasBank, a Maryland-chartered commercial bank. 
  
 “Board” means the Board of Directors of the Company. 
  
 “Change of Control” means any one of the following events: 
  
 (i) the acquisition by any person or persons acting in concert of the then
outstanding voting securities of either the Bank or the Company, if, after the transaction, the acquiring person (or persons) owns, controls or holds with power to vote fifty percent (50%) or more of any class of voting securities of the Bank or the
Company, as the case may be, or such other transaction as may be described under 12 C.F.R. Section 225.41(b)(1) or any successor thereto; 







 (ii) the approval by the stockholders of either the Bank or the Company of a reorganization, merger or
consolidation, with respect to which persons who were the stockholders of either the Bank or the Company, as the case may be, immediately prior to such reorganization, merger or consolidation do not, immediately thereafter, own more than fifty
percent (50%) of the combined voting power entitled to vote in the election of directors of the reorganized, merged or consolidated company’s then outstanding voting securities; 
  
 (iii) the sale, transfer or assignment of all or substantially all of the assets of the Company or the Bank to any third
party; or 
  
 (iv) within any twelve-month period (beginning
March 11, 2004) the persons who were directors of the Bank immediately before the beginning of such twelve-month period (the “Incumbent Directors”) cease to constitute at least a majority of such board of directors; provided that any
director who was not a director as of the Effective Date will be deemed to be an Incumbent Director if that director was elected to such board of directors by, or on the recommendation of or with the approval of either (1) a majority of the
directors who then qualified as Incumbent Directors or (2) the nominating committee of the Board of Directors of the Company. 
  
 “Code” means the Internal Revenue Code of 1986, as amended, and any regulations promulgated thereunder. 
  
 “Common Stock” means the Company’s common stock, par value
$0.01 per share. 
  
 “Fair Market Value” means, with
respect to a share of Common Stock for any purpose on a particular date, the value determined by the Administrator in good faith; provided, however, that if the Common Stock is publicly traded, “Fair Market Value” shall be determined by
reference to, as applicable: (i) the price per share in the Company’s 2004 public offering which closed on March 11, 2004, (ii) either the closing price or the average of the high and low sale price on the relevant date, as determined in the
Administrator’s discretion, quoted on the New York Stock Exchange, the American Stock Exchange, or the Nasdaq National Market; (iii) either the last sale price or the average of the high and low sale price on the relevant date, as determined in
the Administrator’s discretion, quoted on the Nasdaq SmallCap Market; (iv) the average of the high bid and low asked prices on the relevant date quoted on the OTC Bulletin Board Service or by the National Quotation Bureau, Inc. or a comparable
service as determined in the Administrator’s discretion; or (v) if the Common Stock is not listed or quoted by any of the above, the average of the closing bid and asked prices on the relevant date furnished by a professional market maker for
the Common Stock, or by such other source, selected by the Administrator. If no public trading of the Common Stock occurs on the relevant date but the shares are so listed or quoted, then Fair Market Value shall be determined as of the next
preceding date on which trading of the Common Stock does occur. For all purposes under the Plan, the term “relevant date” as used in this definition means either the date as of which Fair Market Value is to be determined or the next
preceding date on which public trading of the Common Stock occurs, as determined in the Administrator’s discretion. 
  
 “Grant Agreement” means a written document memorializing the terms and conditions of an Award granted pursuant to the Plan. Each Grant Agreement
shall incorporate the terms of the Plan. 
  

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 3. Administration. 
  
 (a) Administration of the Plan. The Plan shall be administered by the Administrator; provided, however, that unless
otherwise determined by the Board, the Administrator shall be composed solely of two or more persons who are “outside directors” within the meaning of Code section 162(m)(4)(C)(i) and the regulations promulgated thereunder. To the extent
allowed by applicable state or federal law, the Board by resolution may authorize an officer or officers to grant Awards (other than stock Awards) to other officers and employees of the Company and its Affiliates, and, to the extent of such
authorization, such officer or officers shall be the Administrator. 
  
 (b) Powers of the Administrator. The Administrator shall have all the powers vested in it by the terms of the Plan, such powers to include authority, in its sole and absolute discretion, to grant Awards under the Plan, prescribe
Grant Agreements evidencing such Awards and establish programs for granting Awards. 
  
 The Administrator shall have full power and authority to take all other actions necessary to carry out the purpose and intent of the Plan, including, but not limited to, the authority to: (i) determine the eligible
persons to whom, and the time or times at which Awards shall be granted; (ii) determine the types of Awards to be granted; (iii) determine the number of shares to be covered by or used for reference purposes for each Award; (iv) impose such terms,
limitations, restrictions and conditions (not inconsistent with the Plan) upon any such Award as the Administrator shall deem appropriate; (v) modify, amend, extend or renew outstanding Awards, or accept the surrender of outstanding Awards and
substitute new Awards (provided however, that, except as provided in Section 6 or 7(d) of the Plan, any modification that would impair any outstanding Award shall not be made without the consent of the holder); (vi) accelerate or otherwise change
the time in which an Award may be exercised or becomes payable and to waive or accelerate the lapse, in whole or in part, of any restriction or condition with respect to such Award, including, but not limited to, any restriction or condition with
respect to the vesting or exercisability of an Award following termination of any grantee’s employment or other relationship with the Company; (vii) establish objectives and conditions (including, without limitation, vesting criteria), if any,
for earning Awards and determining whether such objectives and conditions have been satisfied; (viii) determine the Fair Market Value of the Common Stock in accordance with the Plan; and (ix) for any purpose, including but not limited to, qualifying
for preferred tax treatment under foreign tax laws or otherwise complying with the regulatory requirements of local or foreign jurisdictions, to establish, amend, modify, administer or terminate sub-plans, and prescribe, amend and rescind rules and
regulations relating to such sub-plans. 
  
 The Administrator
shall have full power and authority, in its reasonable discretion, to administer and interpret the Plan, Grant Agreements and all other documents relevant to the Plan and Awards issued thereunder, and to adopt and interpret such rules, regulations,
agreements, guidelines and instruments for the administration of the Plan and for the conduct of its business as the Administrator deems necessary or advisable. 
  


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 (c) Non-Uniform Determinations. The Administrator’s determinations under the Plan (including,
without limitation, determinations of the persons to receive Awards, the form, amount and timing of such Awards, the terms and provisions of such Awards and the Grant Agreements evidencing such Awards) need not be uniform and may be made by the
Administrator selectively among persons who receive, or are eligible to receive, Awards under the Plan, whether or not such persons are similarly situated. 
  
 (d) Limited Liability. To the maximum extent permitted by law, no member of the Administrator shall be liable for any action taken or decision made
in good faith relating to the Plan or any Award thereunder. 
  
 (e) Indemnification. To the maximum extent permitted by law and by the Company’s charter and by-laws, the members of the Administrator shall be indemnified by the Company in respect of all their activities under the Plan.

  
 (f) Effect of Administrator’s Decision. All
actions taken and decisions and determinations made by the Administrator on all matters relating to the Plan pursuant to the powers vested in it hereunder shall be in the Administrator’s reasonable discretion and shall be binding on all parties
concerned, including the Company, its stockholders, any participants in the Plan and any other employee, consultant, or director of the Company, and their respective successors in interest. 
  
 4. Shares Available for the Plan; Maximum Awards. Subject to
adjustments as provided in Section 7(d) of the Plan, the shares of Common Stock that may be issued with respect to Awards granted under the Plan shall not exceed an aggregate of 1,283,121 shares of Common Stock. The Company shall reserve such number
of shares for Awards under the Plan, subject to adjustments as provided in Section 7(d) of the Plan. If any Award, or portion of an Award, under the Plan expires or terminates unexercised, becomes unexercisable or is forfeited or otherwise
terminated, surrendered or canceled as to any shares, or if any shares of Common Stock are repurchased by or surrendered to the Company in connection with any Award (whether or not such surrendered shares were acquired pursuant to any Award), or if
any shares are withheld by the Company, the shares subject to such Award and the repurchased, surrendered and withheld shares shall thereafter be available for further Awards under the Plan; provided, however, that to the extent required by
applicable law, any such shares that are surrendered to or repurchased or withheld by the Company in connection with any Award or that are otherwise forfeited after issuance shall not be available for purchase pursuant to incentive stock options
intended to qualify under Code section 422. 
  
 5.
Participation. Participation in the Plan shall be open to all employees, officers, and directors of, and other individuals providing bona fide services to or for, the Company, or of any Affiliate of the Company, as may be selected by the
Administrator from time to time. The Administrator may also grant Awards to individuals in connection with hiring, retention or otherwise, prior to the date the individual first performs services for the Company or an Affiliate, provided that such
Awards shall not become vested or exercisable prior to the date the individual first commences performance of such services. 
  
 6. Awards. The Administrator, in its sole discretion, establishes the terms of all Awards granted under the Plan. Awards may be granted
individually or in tandem with other types of Awards. Each Award shall be evidenced by a Grant Agreement, and each Award shall be subject to the terms and conditions provided in the applicable Grant Agreement. The 
  

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 Administrator may permit or require a recipient of an Award to defer such individual’s receipt of the payment of
cash or the delivery of Common Stock that would otherwise be due to such individual by virtue of the exercise of, payment of, or lapse or waiver of restrictions respecting, any Award. If any such payment deferral is required or permitted, the
Administrator shall, in its sole discretion, establish rules and procedures for such payment deferrals. Notwithstanding anything to the contrary contained in the Plan, except with respect to substitute awards as described in Section 7(e), the
exercise price of any stock option and the purchase price of any Common Stock which may be purchased under any other stock-based award granted under the 2004 Plan will not be less than 100% of the Fair Market Value of the Common Stock on the date of
the grant. 
  
 (a) Stock Options. The Administrator may
from time to time grant to eligible participants Awards of incentive stock options as that term is defined in Code section 422 or nonstatutory stock options; provided, however, that Awards of incentive stock options shall be limited to employees of
the Company or of any current or hereafter existing “parent corporation” or “subsidiary corporation,” as defined in Code sections 424(e) and (f), respectively, of the Company. Options intended to qualify as incentive stock
options under Code section 422 must have an exercise price at least equal to Fair Market Value as of the date of grant (or such greater amount as may be required by the Code). No stock option shall be an incentive stock option unless so designated
by the Administrator at the time of grant or in the Grant Agreement evidencing such stock option. 
  
 (b) Stock Appreciation Rights. The Administrator may from time to time grant to eligible participants Awards of Stock Appreciation Rights
(“SAR”). An SAR entitles the grantee to receive, subject to the provisions of the Plan and the Grant Agreement, a payment having an aggregate value equal to the product of (i) the excess of (A) the Fair Market Value on the exercise date of
one share of Common Stock over (B) the base price per share specified in the Grant Agreement, times (ii) the number of shares specified by the SAR, or portion thereof, which is exercised. Payment by the Company of the amount receivable upon any
exercise of an SAR may be made by the delivery of Common Stock or cash, or any combination of Common Stock and cash, as determined in the sole discretion of the Administrator. If upon settlement of the exercise of an SAR a grantee is to receive a
portion of such payment in shares of Common Stock, the number of shares shall be determined by dividing such portion by the Fair Market Value of a share of Common Stock on the exercise date. No fractional shares shall be used for such payment and
the Administrator shall determine whether cash shall be given in lieu of such fractional shares or whether such fractional shares shall be eliminated. 
  
 (c) Stock Awards. The Administrator may from time to time grant restricted stock Awards to eligible participants in such amounts, on such terms and
conditions, and for such consideration, including no consideration or such minimum consideration as may be required by law, as it shall determine. A stock Award may be paid in Common Stock, in cash, or in a combination of Common Stock and cash, as
determined in the sole discretion of the Administrator. 
  
 (d)
Phantom Stock. The Administrator may from time to time grant Awards to eligible participants denominated in stock-equivalent units (“phantom stock”) in such amounts and on such terms and conditions as it shall determine. Phantom
stock units granted to a participant shall be credited to a bookkeeping reserve account solely for accounting purposes and 
  

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 shall not require a segregation of any of the Company’s assets. An Award of phantom stock may be settled in Common
Stock, in cash, or in a combination of Common Stock and cash, as determined in the sole discretion of the Administrator. Except as otherwise provided in the applicable Grant Agreement, the grantee shall not have the rights of a stockholder with
respect to any shares of Common Stock represented by a phantom stock unit solely as a result of the grant of a phantom stock unit to the grantee. 
  
 (e) Performance Awards. The Administrator may, in its discretion, grant performance awards which become payable on account of attainment of one or
more performance goals established by the Administrator. Performance awards may be paid by the delivery of Common Stock or cash, or any combination of Common Stock and cash, as determined in the sole discretion of the Administrator. Performance
goals established by the Administrator may be based on the Company’s or an Affiliate’s operating income or one or more other business criteria selected by the Administrator that apply to an individual or group of individuals, a business
unit, or the Company or an Affiliate as a whole, over such performance period as the Administrator may designate. 
  
 (f) Other Stock-Based Awards. The Administrator may from time to time grant other stock-based awards to eligible participants in such amounts, on
such terms and conditions, and for such consideration, including no consideration or such minimum consideration as may be required by law, as it shall determine. Other stock-based awards may be denominated in cash, in Common Stock or other
securities, in stock-equivalent units, in stock appreciation units, in securities or debentures convertible into Common Stock, or in any combination of the foregoing and may be paid in Common Stock or other securities, in cash, or in a combination
of Common Stock or other securities and cash, all as determined in the sole discretion of the Administrator. 
  
 7. Miscellaneous. 
  
 (a) Withholding of Taxes. Grantees and holders of Awards shall pay to the Company or its Affiliate, or make provision satisfactory to the
Administrator for payment of, any taxes required to be withheld in respect of Awards under the Plan no later than the date of the event creating the tax liability. The Company or its Affiliate may, to the extent permitted by law, deduct any such tax
obligations from any payment of any kind otherwise due to the grantee or holder of an Award. In the event that payment to the Company or its Affiliate of such tax obligations is made in shares of Common Stock, such shares shall be valued at Fair
Market Value on the applicable date for such purposes and shall not exceed in amount the minimum statutory tax withholding obligation. 
  
 (b) Loans. To the extent otherwise permitted by law, the Company or its Affiliate may make or guarantee loans to grantees to assist grantees in
exercising Awards and satisfying any withholding tax obligations. 
  
 (c) Transferability. Except as otherwise determined by the Administrator, and in any event in the case of an incentive stock option or a stock appreciation right granted with respect to an incentive stock option, no Award granted
under the Plan shall be transferable by a grantee otherwise than by will or the laws of descent and distribution. Unless otherwise determined by the Administrator in accord with the provisions of the immediately preceding 
  

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 sentence, an Award may be exercised during the lifetime of the grantee, only by the grantee or, during the period the
grantee is under a legal disability, by the grantee’s guardian or legal representative. 
  
 (d) Adjustments for Corporate Transactions and Other Events. 
  
 (i) Stock Dividend, Stock Split and Reverse Stock Split. In the event of a stock dividend of, or stock split or reverse stock split affecting, the
Common Stock, (A) the maximum number of shares of such Common Stock as to which Awards may be granted under the Plan, and (B) the number of shares covered by and the exercise price and other terms of outstanding Awards, shall, without further action
of the Board, be adjusted to reflect such event. The Administrator may make adjustments, in its reasonable discretion, to address the treatment of fractional shares and fractional cents that arise with respect to outstanding Awards as a result of
the stock dividend, stock split or reverse stock split. 
  
 (ii)
Non-Change of Control Transactions. Except with respect to the transactions set forth in Section 7(d)(i), in the event of any change affecting the Common Stock, the Company or its capitalization, by reason of a spin-off, split-up, dividend,
recapitalization, merger, consolidation or share exchange, other than any such change that is part of a transaction resulting in a Change of Control of the Company, the Administrator, in its reasonable discretion and without the consent of the
holders of the Awards, may make (A) appropriate adjustments to the maximum number and kind of shares reserved for issuance or with respect to which Awards may be granted under the Plan, in the aggregate, as provided in Section 4 of the Plan; and (B)
any adjustments in outstanding Awards, including but not limited to modifying the number, kind and price of securities subject to Awards. 
  
 (iii) Change of Control Transactions. In the event of any transaction resulting in a Change of Control of the Company (A) outstanding stock
options and other Awards that are payable in or convertible into Common Stock under the Plan will terminate upon the effective time of such Change in Control unless provision is made in connection with the transaction for the continuation or
assumption of such Awards by, or for the substitution of the equivalent awards of, the surviving or successor entity or a parent thereof; (B) all outstanding stock options and other Awards shall vest and become exercisable to the extent provided for
in the applicable Grant Agreement, and (C) the holders of stock options and other Awards under the Plan will be permitted, immediately before the Change in Control, to exercise or convert all portions of such stock options or other Awards under the
Plan that are then exercisable or convertible or which become exercisable or convertible upon or prior to the effective time of the Change in Control. 
  
 (iv) Unusual or Nonrecurring Events. The Administrator is authorized to make, in its reasonable discretion and without the consent of holders of
Awards, adjustments in the terms and conditions of, and the criteria included in, Awards in recognition of unusual or nonrecurring events affecting the Company, or the financial statements of the Company or any Affiliate, or of changes in applicable
laws, regulations, or accounting principles, whenever the Administrator reasonably determines that such adjustments are appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under
the Plan, provided, however, that except as expressly provided in the Grant Agreement, no such adjustment shall adversely affect an outstanding Award without the consent of the grantee. 
  

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 (e) Substitution of Awards in Mergers and Acquisitions. Awards may be granted under the Plan from
time to time in substitution for awards held by employees, officers, consultants or directors of entities who become or are about to become employees, officers, consultants or directors of the Company or an Affiliate as the result of a merger or
consolidation of the employing entity with the Company or an Affiliate, or the acquisition by the Company or an Affiliate of the assets or stock of the employing entity. The terms and conditions of any substitute Awards so granted may vary from the
terms and conditions set forth herein to the extent that the Administrator deems appropriate at the time of grant to conform the substitute Awards to the provisions of the awards for which they are substituted. 
  
 (f) Other Agreements. As a condition precedent to the exercise of any
Award, or to the delivery of certificates for shares issued pursuant to any Award, the Administrator may require the grantee or the grantee’s successor or permitted transferee, as the case may be, to become a party to a right of first refusal
agreement in favor of any employee stock ownership plan hereafter established by the Company, in such form(s) as the Administrator may determine in its reasonable discretion from time to time. 
  
 (g) Termination, Amendment and Modification of the Plan. The Board may
terminate, amend or modify the Plan or any portion thereof at any time, but no amendment or modification shall be made which would impair the rights of any grantee under any Award theretofore made, without his or her consent. Notwithstanding
anything to the contrary contained in the Plan, the Board may not amend or modify the Plan or any portion thereof without shareholder approval where such approval is required by applicable law or by the rules of any securities exchange or quotation
system (e.g., Nasdaq) on which the Common Stock is listed or traded. Furthermore, notwithstanding anything to the contrary contained in the Plan, the administrator may not amend or modify any Award if such amendment or modification would require the
approval of the shareholders if the amendment or modification were made to the Plan. 
  
 (h) Non-Guarantee of Employment or Service. Nothing in the Plan or in any Grant Agreement thereunder shall confer any right on an individual to continue in the service of the Company or shall interfere in any
way with the right of the Company to terminate such service at any time with or without cause or notice and whether or not such termination results in (i) the failure of any Award to vest; (ii) the forfeiture of any unvested or vested portion of any
Award; and/or (iii) any other adverse effect on the individual’s interests under the Plan. 
  
 (i) Compliance with Securities Laws; Listing and Registration. If at any time the Administrator determines that the delivery of Common Stock under
the Plan is or may be unlawful under the laws of any applicable jurisdiction, or Federal, state or foreign securities laws, the right to exercise an Award or receive shares of Common Stock pursuant to an Award shall be suspended until the
Administrator determines that such delivery is lawful. The Company shall have no obligation to effect any registration or qualification of the Common Stock under Federal, state or foreign laws. 
  
 The Company may require that a grantee, as a condition to exercise of an
Award, and as a condition to the delivery of any share certificate, make such written representations (including, without limitation, representations to the effect that such Common Stock is being acquired solely for investment and that such person
will not dispose of the Common Stock so 
  

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 acquired in violation of Federal, state or foreign securities laws) and furnish such information as may, in the opinion
of counsel for the Company, be appropriate to permit the Company to issue the Common Stock in compliance with applicable Federal, state or foreign securities laws. The stock certificates for any shares of Common Stock issued pursuant to the Plan may
bear a legend restricting transferability of the shares of Common Stock unless such shares are registered or an exemption from registration is available under the Securities Act of 1933, as amended, and applicable state or foreign securities laws.

  
 (j) No Trust or Fund Created. Neither the Plan nor any
Award shall create or be construed to create a trust or separate fund of any kind or a fiduciary relationship between the Company and a grantee or any other person. To the extent that any grantee or other person acquires a right to receive payments
from the Company pursuant to an Award, such right shall be no greater than the right of any unsecured general creditor of the Company. 
  
 (k) Governing Law. The validity, construction and effect of the Plan, of Grant Agreements entered into pursuant to the Plan, and of any rules,
regulations, determinations or decisions made by the Administrator relating to the Plan or such Grant Agreements, and the rights of any and all persons having or claiming to have any interest therein or thereunder, shall be determined exclusively in
accordance with applicable federal laws and the laws of the State of Maryland without regard to its conflict of laws principles. 
  
 (l) Effective Date; Termination Date. The Plan is effective as of the date on which the Plan is adopted by the Board, subject to approval of the
stockholders within twelve months before or after such date, and shall continue in effect for a term of ten (10) years, unless earlier terminated pursuant to Section 7(g) hereof. No Award shall be granted under the Plan after the close of business
on the day immediately preceding the tenth anniversary of the effective date of the Plan, or if earlier, the tenth anniversary of the date the Plan is approved by the stockholders, and no Award under the Plan shall have a term of more than ten (10)
years. Subject to other applicable provisions of the Plan, all Awards made under the Plan prior to such termination of the Plan shall remain in effect until such Awards have been satisfied or terminated in accordance with the Plan and the terms of
such Awards, provided, however, that no Award that contemplates exercise or conversion may be exercised or converted, and no other Award that defers vesting, shall remain outstanding and unexercised, unconverted or unvested for more than ten years
after the date the award was initially granted. 
  
 (m)
Regulatory Restrictions. The inability of the Company to obtain any necessary authority from any regulatory body having jurisdiction, which authority is deemed by the Company’s counsel to be necessary to the lawful exercise or payment of
any Award hereunder, shall relieve the Company of any liability in respect of the exercise or payment of such Award to the extent such requisite authority shall have been deemed necessary and shall not have been obtained. 
  
 PLAN APPROVAL 
  
 Date Approved by the Board:  March 11, 2004 
  
 Date Approved by the Stockholders:  June 3, 2004 
  

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