Document:

Exhibit 4.1

 

[FRONT OF CERTIFICATE]

 

Temporary Certificate-Exchangeable For Definitive Engraved Certificate 

When Available for Delivery

 

	
            [Graphic which contains: Number
 	
            HRPT PROPERTIES TRUST
 	
            [Graphic which contains: SHARES ______]
 

HRD _______]

 

A MARYLAND REAL ESTATE INVESTMENT TRUST

 

	
            61⁄2% SERIES D CUMULATIVE
 	
            61⁄2% SERIES D CUMULATIVE
 
	
            CONVERTIBLE PREFERRED SHARES
 	
            CONVERTIBLE PREFERRED SHARES
 
	
             
 	
             
 
	
             
 	
             
 
	
             
 	
            CUSIP 40426W 50 7
 
	
             
 	
             
 
	
             
 	
            SEE REVERSE FOR IMPORTANT NOTICE ON TRANSFER RESTRICTIONS
 
	
             
 	
            AND OTHER INFORMATION
 

 

THIS CERTIFIES THAT 

 

is the registered holder of

 

FULLY PAID AND NONASSESSABLE 61⁄2% SERIES D CUMULATIVE CONVERTIBLE PREFERRED SHARES, $.01 PAR VALUE PER SHARE, OF BENEFICIAL INTEREST IN 

 

[Superimposed over the following paragraph are the words "Preferred Shares"] 

 

HRPT Properties Trust (the "Trust"), a Maryland Real Estate Investment Trust established by Declaration of Trust made as of October 9, 1986, as amended from time to time, a copy of which, together with all amendments thereto (the "Declaration"), is on file with the State Department of Assessments and Taxation of Maryland. The provisions of the Declaration and the Bylaws of the Trust, and all amendments thereto, are hereby incorporated in and made a part of this certificate as fully as if set forth herein in their entirety, to all of which provisions the holder and every transferee or assignee hereof by accepting or holding the same agrees to be bound. See reverse for existence of Trustees' authority to determine preferences and other rights of subsequent series of shares, and of restriction on transfer provisions governing the shares evidenced by this certificate. This certificate and the shares evidenced
hereby are negotiable and transferable on the books of the Trust by the registered holder hereof in person or by its duly authorized agent upon surrender of this certificate properly endorsed or assigned to the same extent as a stock certificate and the shares of a Maryland corporation. This certificate is not valid until countersigned by the Transfer Agent and registered by the Registrar. 

 

Witness the facsimile seal of the Trust and the facsimile signatures of its duly authorized officers. 

 

Dated: 

 

[Seal of Trust]

 

	
            /s/ John C. Popeo
 	
            /s/ John A. Mannix
 
	
             
 	
             
 
	
            TREASURER
 	
            PRESIDENT AND CHIEF OPERATING OFFICER
 

 

 

THE DECLARATION OF TRUST PROVIDES THAT THE NAME "HRPT PROPERTIES TRUST" REFERS TO THE TRUSTEES UNDER THE DECLARATION OF TRUST, COLLECTIVELY AS TRUSTEES, BUT NOT INDIVIDUALLY OR PERSONALLY, AND NO TRUSTEE, SHAREHOLDER, EMPLOYEE OR AGENT OF THE TRUST SHALL BE HELD TO ANY PERSONAL LIABILITY, JOINTLY OR SEVERALLY, IN CONNECTION WITH THIS INSTRUMENT. ALL PERSONS DEALING WITH THE TRUST IN ANY WAY SHALL LOOK ONLY TO THE ASSETS OF THE TRUST FOR PAYMENT OF ANY SUM OR PERFORMANCE OF ANY OBLIGATION. 

 

COUNTERSIGNED AND REGISTERED: 

WELLS FARGO BANK, N. A.

TRANSFER AGENT AND REGISTRAR 

 

BY 

/s/                  

AUTHORIZED SIGNATURE 

 

[REVERSE OF CERTIFICATE]

 

HRPT PROPERTIES TRUST

_________________

 

IMPORTANT NOTICE

_________________

 

THE TRUST WILL FURNISH TO ANY SHAREHOLDER, ON REQUEST AND WITHOUT CHARGE, A FULL STATEMENT OF THE INFORMATION REQUIRED BY SECTION 8-203(d) OF THE CORPORATIONS AND ASSOCIATIONS ARTICLE OF THE ANNOTATED CODE OF MARYLAND WITH RESPECT TO THE DESIGNATIONS AND ANY PREFERENCES, CONVERSION AND OTHER RIGHTS, VOTING POWERS, RESTRICTIONS, LIMITATIONS AS TO DIVIDENDS AND OTHER DISTRIBUTIONS, QUALIFICATIONS, AND TERMS AND CONDITIONS OF REDEMPTION OF THE SHARES OF EACH CLASS OF BENEFICIAL INTEREST WHICH THE TRUST HAS AUTHORITY TO ISSUE AND, IF THE TRUST IS AUTHORIZED TO ISSUE ANY PREFERRED OR SPECIAL CLASS IN SERIES, (i) THE DIFFERENCES IN THE RELATIVE RIGHTS AND PREFERENCES BETWEEN THE SHARES OF EACH SERIES TO THE EXTENT SET, AND (ii) THE AUTHORITY OF THE BOARD OF TRUSTEES TO SET SUCH RIGHTS AND PREFERENCES OF SUBSEQUENT SERIES. THE FOREGOING SUMMARY DOES NOT PURPORT TO BE COMPLETE AND IS SUBJECT TO AND QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO THE DECLARATION OF TRUST OF THE TRUST, A COPY OF WHICH WILL BE SENT WITHOUT CHARGE TO EACH SHAREHOLDER WHO SO REQUESTS. SUCH REQUEST MUST BE MADE TO THE SECRETARY OF THE TRUST AT ITS PRINCIPAL OFFICE OR TO THE TRANSFER AGENT. 

 

IN CONNECTION WITH COMPLIANCE BY THE TRUST WITH REQUIREMENTS OF THE INTERNAL REVENUE CODE RELATING TO REAL ESTATE INVESTMENT TRUSTS, THE SHARES EVIDENCED BY THIS CERTIFICATE MAY BE REDEEMED BY THE TRUST, RIGHTS OF CONVERSION OF THE SHARES EVIDENCED HEREBY AND/OR THE TRANSFER THEREOF MAY BE PROHIBITED ALL UPON THE TERMS AND CONDITIONS SET FORTH IN THE DECLARATION OF TRUST. THE TRUST WILL FURNISH A COPY OF SUCH TERMS AND CONDITIONS TO THE REGISTERED HOLDER OF THIS CERTIFICATE UPON REQUEST AND WITHOUT CHARGE. 

 

The following abbreviations, when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according to applicable laws or regulations: 

 

	
            TEN COM -
 	
            as tenants in common
 	
            UNIF GIFT MIN ACT- 
 	
            ______ Custodian _____
 
	
            TEN ENT -
 	
            as tenants by the entireties
 	
             
 	
            (Cust)                (Minor)
 
	
            JT TEN - 
 	
            as joint tenants with right
 	
             
 	
            under Uniform Gifts to Minors
 
	
             
 	
            or survivorship and not as
 	
             
 	
            Act ___________________
 
	
             
 	
            tenants in common
 	
             
 	
            (State)
 

 

 

Additional abbreviations may also be used though not in the above list. 

 

For value received _______________________________ hereby sell, assign and transfer unto 

 

PLEASE INSERT SOCIAL SECURITY OR OTHER 

IDENTIFYING NUMBER OF NEW OWNER 

 

[BOX] _____________________ 

 

PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS INCLUDING POSTAL ZIP CODE OF ASSIGNEE.

 

Preferred Shares of Beneficial Interest represented by the within Certificate, and do hereby irrevocably constitute and appoint

_____________________________________________________________ Attorney to transfer the said shares on the books of the within-named Trust with full power of substitution in the premises.

 

Dated, ______________

 

(Sign here)  __________________________________________________________

NOTICE: THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THE CERTIFICATE, IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT, OR ANY CHANGE WHATEVER.

 

Signature(s) Guaranteed: _____________________________________________

The signature(s) must be guaranteed by an eligible guarantor institution (Banks, Stockbrokers, Savings and Loan Associations and Credit Unions with membership in an approved signature guarantee Medallion Program), pursuant to S.E.C. Rule 17Ad-15.<PAGE>

                      EXHIBIT 10.2   FORM OF AWARD AGREEMENTS

<PAGE>

                                     FORM OF
                                AMERIANA BANCORP
                          2006 LONG-TERM INCENTIVE PLAN
                        RESTRICTED STOCK AWARD AGREEMENT

NAME OF AWARD RECIPIENT:                    __________________

         You have been granted an award of shares of Ameriana Bancorp common
stock ("Common Stock") at no cost to you subject to the terms and conditions of
this Award Agreement and the Ameriana Bancorp 2006 Long-Term Incentive Plan (the
"Plan").

NUMBER OF SHARES
SUBJECT TO THE STOCK AWARD:                 _____________ shares of Common Stock

DATE OF GRANT:                              _____________, 2006

TERM OF STOCK AWARD
AND VESTING SCHEDULE:                       Subject to the limitations of this
                                            Stock Award Agreement, this Stock
                                            Award shall vest in installments
                                            according to the following schedule:

                                            Installment             Vesting Date
                                            -----------             ------------

                                            Except as provided herein, an
                                            installment shall not vest on the
                                            otherwise applicable vesting date if
                                            you terminate employment or service
                                            with the Bank prior to such vesting
                                            date.

ACCELERATION OF VESTING
UPON A CHANGE IN CONTROL:                   All unvested shares of Common Stock
                                            subject to this Stock Award will
                                            immediately vest upon a Change in
                                            Control.

<PAGE>

EFFECT OF TERMINATION OF
EMPLOYMENT BECAUSE OF:

     (a)   DEATH, DISABILITY:               In the event your employment or
           OR RETIREMENT                    service is terminated due to your
                                            death, Disability or Retirement, the
                                            entire unvested portion of your
                                            Stock Award will immediately vest as
                                            of the date of such termination.

     (b)   TERMINATION FOR
           CAUSE:                           In the event your employment or
                                            service is terminated for Cause, all
                                            your rights to this Stock Award will
                                            expire immediately as of the
                                            effective date of your termination
                                            for Cause.

     (c)   OTHER REASONS:                   Unless otherwise determined by the
                                            Committee, all unvested shares of
                                            Common Stock subject to this Stock
                                            Award are forfeited as of the date
                                            you terminate employment or service
                                            with the Company or the Bank and any
                                            rights you have to this Stock Award
                                            become null and void.

DISTRIBUTION:                               Shares of Common Stock subject to
                                            this Stock Award will be distributed
                                            as soon as practicable upon vesting.
                                            Dividends paid on shares of Common
                                            Stock subject to this Stock Award
                                            will be distributed when determined
                                            by the Committee administering the
                                            Plan.

VOTING:                                     You are entitled to vote all shares
                                            of Common Stock subject to this
                                            Stock Award, regardless of vesting.

TAX WITHHOLDING:                            Upon  payment of a Stock Award,  the
                                            Committee is entitled to require as
                                            a condition of delivery (i) that you
                                            remit an amount sufficient to
                                            satisfy all federal, state and local
                                            tax withholding requirements related
                                            thereto (including employment
                                            taxes), (ii) that the withholding of
                                            such sums come from compensation
                                            otherwise due to you or from shares
                                            of Common Stock due to you under the
                                            Plan, or (iii) any combination of
                                            the foregoing. Any withholding shall
                                            comply with Rule 16b-3 or any
                                            amendments or successive rule.
                                            OUTSIDE DIRECTORS ARE SELF EMPLOYED
                                            AND NOT SUBJECT TO TAX-WITHHOLDING.

DESIGNATION OF BENEFICIARY:                 You may designate a beneficiary on a
                                            form acceptable to the Committee, to
                                            receive rights under this Stock
                                            Award Agreement, in the event of
                                            your death. If a beneficiary is not
                                            designated, the Award will become
                                            part of your estate.

<PAGE>

PLAN GOVERNS:                               Notwithstanding  anything in this
                                            Stock Award Agreement to the
                                            contrary, the terms of this Stock
                                            Award shall be subject to the terms
                                            and conditions of the Plan, a copy
                                            of which you may obtain from the
                                            Company. This Stock Award Agreement
                                            is subject to all interpretations,
                                            amendments, rule and regulations
                                            promulgated by the Committee from
                                            time to time pursuant to the Plan.
                                            Any capitalized terms shall have the
                                            meaning given to such terms in the
                                            Plan.

                                            Neither the Plan nor this Stock
                                            Award Agreement create any right on
                                            the part of any individual to
                                            continue in the employ of Ameriana
                                            Bancorp or any Affiliates of
                                            Ameriana Bancorp.

NON-TRANSFERABILITY:                        You shall not sell, transfer,
                                            assign, pledge or otherwise encumber
                                            shares subject to this Stock Award
                                            until full vesting of such shares
                                            has occurred.

                                            Unless determined otherwise by the
                                            Committee and except in the event of
                                            your death or pursuant to a domestic
                                            relations order, this Stock Award is
                                            not transferable and may only be
                                            earned by you in your lifetime. Upon
                                            your death, this Stock Award is
                                            transferable by will or the laws of
                                            descent and distribution.

MODIFICATION                                AND AMENDMENT: The Committee may
                                            amend or modify this Stock Award
                                            from time to time, prospectively or
                                            retroactively; PROVIDED, HOWEVER,
                                            that no such amendment or
                                            modification will adversely affect
                                            your rights under this Award without
                                            your written consent.

<PAGE>

         All decisions, determinations and interpretations of the Board of
Directors, or the Committee thereof, with respect to the Plan and/or this Stock
Award Agreement are final and conclusive.

         IN WITNESS WHEREOF, Ameriana Bancorp has caused this Award Agreement to
be executed, and said Participant has also executed this Award Agreement as of
the ____ day of ________________, 2006.

                                   AMERIANA BANCORP

                                   By: ________________________________________
                                       For the Committee Administering the Plan

                                   By:_________________________________________

<PAGE>

                                     FORM OF
                                AMERIANA BANCORP
                          2006 LONG-TERM INCENTIVE PLAN
                   NON-STATUTORY STOCK OPTION AWARD AGREEMENT

NAME OF OPTIONEE:                           _____________________

         You have been granted a Non-Statutory Stock Option to purchase shares
of Ameriana Bancorp common stock ("Common Stock") at a fixed price (the
"Exercise Price") subject to the terms and conditions of this Award Agreement
and the Ameriana Bancorp 2006 Long-Term Incentive Plan (the "Plan").

NUMBER OF SHARES
SUBJECT TO THE OPTION AWARD:              _____________ shares of Ameriana
                                          Bancorp common stock ("Common Stock")

DATE OF GRANT:                            _____________, 2006

EXERCISE PRICE:                           $_______

TERM OF OPTION:                           The term of this Non-Statutory Stock
                                          Option shall be 10 years from the Date
                                          of Grant.

VESTING SCHEDULE:                         Subject to the limitations of this
                                          Stock Option Award Agreement, this
                                          Non-Statutory Stock Option Award shall
                                          vest or become exercisable in
                                          installments according to the
                                          following schedule:

                                          Installment            Vesting  Date
                                          -----------            -------------

                                          Except as provided herein, an
                                          installment shall not become
                                          exercisable on the otherwise
                                          applicable vesting date if you
                                          terminate employment or service with
                                          the Bank or Company prior to such
                                          vesting date.

<PAGE>

ACCELERATION OF VESTING
IN THE EVENT OF A
CHANGE IN CONTROL:                        In the event of a Change in Control,
                                          all unvested Non-Statutory Stock
                                          Options shall immediately become
                                          exercisable. If your employment or
                                          service is terminated for any reason
                                          within 12 months of the Change in
                                          Control, you will have until the
                                          expiration of the term of your
                                          Non-Statutory Stock Option to exercise
                                          your Option.

PAYMENT OF EXERCISE PRICE:                The Exercise Price may be paid in cash
                                          or Common Stock having a Fair Market
                                          Value on the exercise date equal to
                                          the total Exercise Price, or any
                                          combination of cash or Common Stock
                                          and, if the Committee permits, you may
                                          also conduct a cash-less exercise with
                                          a qualifying broker-dealer.

EFFECT OF TERMINATION OF
EMPLOYMENT OR SERVICE BECAUSE OF:

         (a)    DEATH, DISABILITY:        In the event your employment or
                OR RETIREMENT             service is terminated due to your
                                          death, Disability or Retirement, the
                                          entire unvested portion of your
                                          Non-Statutory Stock Option Award will
                                          immediately vest and the unexercised
                                          portion of your Non-Statutory Stock
                                          Option Award will remain exercisable
                                          until the earlier of: (i) the original
                                          expiration of your Option grant; or
                                          (ii) the second anniversary of your
                                          termination of employment or service.

         (b)    TERMINATION FOR
                CAUSE:                    In the event your employment is
                                          terminated for Cause, all your rights
                                          to this Non-Statutory Stock Option
                                          Award will expire immediately as of
                                          the effective date of your termination
                                          for Cause.

         (c)    OTHER REASONS:            Unless otherwise determined by the
                                          Committee, you may only exercise those
                                          Non-Statutory Stock Options that are
                                          immediately exercisable as of the date
                                          you terminate employment or service
                                          with the Company or Bank. You forfeit
                                          all rights to any unvested
                                          Non-Statutory Stock Options and your
                                          vested Non-Statutory Stock Options
                                          remain exercisable for a period of
                                          three (3) months following your
                                          termination of employment or service,
                                          or, if sooner, until the expiration of
                                          the term of your Non-Statutory Stock
                                          Option.

<PAGE>

VOTING:                                   You have no rights as a shareholder
                                          with respect to any shares of Common
                                          Stock covered by this Non-Statutory
                                          Stock Option Award until the date of
                                          issuance of a stock certificate for
                                          the Common Stock covered by this
                                          Non-Statutory Stock Option Award
                                          following exercise of the Option.

DISTRIBUTION:                             Shares of Common Stock subject to this
                                          Non-Statutory Stock Option Award will
                                          be distributed as soon as practicable
                                          upon exercise.

DESIGNATION OF BENEFICIARY:               You may designate a beneficiary, on a
                                          form acceptable to the Committee, to
                                          receive rights under this
                                          Non-Statutory Stock Option Award, in
                                          the event of your death. If a
                                          beneficiary is not designated the
                                          Award will become part of your estate.

NON-TRANSFERABILITY:                      This Non-Statutory Stock Option Award
                                          shall not be transferred, assigned,
                                          hypothecated, or disposed of in any
                                          manner by you other than by will or
                                          the laws of intestate succession.
                                          However, you may petition the
                                          Committee to permit transfer or
                                          assignment of this Non-Statutory Stock
                                          Option Award if such transfer or
                                          assignment is, in the Committee's sole
                                          determination, for valid estate
                                          planning purposes and permitted under
                                          the Internal Revenue Code of 1986, as
                                          amended and the Securities Exchange
                                          Act of 1934, as amended.

PLAN GOVERNS:                             Notwithstanding anything in this
                                          Non-Statutory Stock Option Award
                                          Agreement to the contrary, the terms
                                          of this Non-Statutory Stock Option
                                          Award Agreement shall be subject to
                                          the terms and conditions of the Plan,
                                          a copy of which may be obtained from
                                          the Company; and this Non-Statutory
                                          Stock Option Award Agreement is
                                          subject to all interpretations,
                                          amendments, rules and regulations
                                          promulgated by the Committee from time
                                          to time pursuant to the Plan. Any
                                          capitalized terms shall have the
                                          meaning given to such terms in the
                                          Plan.

                                          Neither the Plan nor this Award
                                          Agreement create any right on the part
                                          of any individual to continue in the
                                          service of Ameriana Bancorp or any
                                          Affiliate of Ameriana Bancorp

<PAGE>

MODIFICATION AND WAIVER:                  The Committee may amend or modify this
                                          Non-Statutory Stock Option Award from
                                          time to time, prospectively or
                                          retroactively; PROVIDED, HOWEVER, that
                                          no such amendment or modification will
                                          adversely affect the rights of the
                                          Participant under this Award Agreement
                                          without his or her written consent.

         All decisions, determinations and interpretations of the Board of
Directors, or the Committee thereof, in regards to the Plan and/or this
Non-Statutory Stock Option Award Agreement are final and conclusive.

         IN WITNESS WHEREOF, Ameriana Bancorp has caused this Award Agreement to
be executed and said Participant has also executed this Award Agreement as of
the ____day of __________, 2006.

                                    AMERIANA BANCORP

                                    By: ________________________________________
                                        For the Committee Administering the Plan

                                    By: ________________________________________

<PAGE>

                                     FORM OF
                                AMERIANA BANCORP
                          2006 LONG-TERM INCENTIVE PLAN
                     INCENTIVE STOCK OPTION AWARD AGREEMENT

NAME OF OPTIONEE:                   ______________________

         You have been granted an Incentive Stock Option to purchase shares of
Ameriana Bancorp common stock ("Common Stock") at a fixed price (the "Exercise
Price") subject to the terms and conditions of this Award Agreement and the
Ameriana Bancorp 2006 Long-Term Incentive Plan (the "Plan").

NUMBER OF SHARES
SUBJECT TO THE OPTION AWARD:        ____________ shares of Ameriana Bancorp
                                    common stock

DATE OF GRANT:                      _________________, 2006

EXERCISE PRICE:                     $________

TERM OF OPTION:                     The term of this Incentive Stock Option
                                    shall be 10 years from the Date of Grant.

VESTING SCHEDULE:                   Subject to the limitations of this Stock
                                    Option Award Agreement, this Incentive Stock
                                    Option Award shall vest or become
                                    exercisable in installments according to the
                                    following schedule:

                                    Installment            Vesting  Date
                                    -----------            -------------

                                    Except as provided herein, an installment
                                    shall not become exercisable on the
                                    otherwise applicable vesting date if you
                                    terminate employment with the Company or
                                    Bank prior to such vesting date.

<PAGE>

ACCELERATION OF VESTING
IN THE EVENT OF A
CHANGE IN CONTROL:                  In the event of a Change in Control, all
                                    unvested Incentive Stock Options shall
                                    immediately become exercisable. If your
                                    employment is terminated for any reason
                                    within 12 months of the Change in Control,
                                    you will have until the expiration of the
                                    term of your Incentive Stock Option to
                                    exercise your Option. Incentive Stock
                                    Options exercised more than three (3) months
                                    following your termination of employment in
                                    connection with a Change in Control will be
                                    treated as Non-Statutory Stock Options for
                                    tax purposes.

PAYMENT OF EXERCISE PRICE:          The Exercise Price may be paid in cash or
                                    Common Stock having a Fair Market Value on
                                    the exercise date equal to the total
                                    Exercise Price, or any combination of cash
                                    or Common Stock and, if the Committee
                                    permits, you may also conduct a cash-less
                                    exercise with a qualifying broker-dealer.

EFFECT OF TERMINATION OF
EMPLOYMENT BECAUSE OF:

         (a)   DEATH, DISABILITY:   In the event your employment is terminated
               OR RETIREMENT        due to your death, Disability or Retirement,
                                    the entire unvested portion of your
                                    Incentive Stock Option Award will
                                    immediately vest and the unexercised portion
                                    of your Incentive Stock Option Award will
                                    remain exercisable until the earlier of (i)
                                    the original expiration of your option
                                    grant, or (ii) the second anniversary of
                                    your termination of employment. Incentive
                                    Stock Options exercised more than three (3)
                                    months from your Retirement date and one (1)
                                    year from your termination of employment due
                                    to death or Disability will be treated as
                                    Non-Statutory Stock Options for tax
                                    purposes.

         (b)   TERMINATION FOR
               CAUSE:               In you are terminated for Cause, all your
                                    rights to this Incentive Stock Option Award
                                    will expire immediately as of the effective
                                    date of your termination for Cause.

         (c)   OTHER REASONS:       Unless otherwise determined by the
                                    Committee, you may only exercise those
                                    Incentive Stock Options that are immediately
                                    exercisable as of the date of your
                                    termination of employment. You forfeit all
                                    rights to any unvested Incentive Stock
                                    Options and your vested Invested Stock
                                    Options remain exercisable for a period of
                                    three (3) months following your termination
                                    of employment, or, if sooner, until the
                                    expiration of the term of your Incentive
                                    Stock Option.

<PAGE>

VOTING:                             You have no rights as a shareholder with
                                    respect to any shares of Common Stock
                                    covered by this Incentive Stock Option Award
                                    until the date of issuance of a stock
                                    certificate for the Common Stock covered by
                                    this Incentive Stock Option Award following
                                    exercise of the Option.

DISTRIBUTION:                       Shares of Common Stock subject to this
                                    Incentive Stock Option Award will be
                                    distributed as soon as practicable upon
                                    exercise.

TAX WITHHOLDING:

         (a)  EXERCISE OF INCENTIVE
              STOCK OPTION:         There is no regular federal or state income
                                    or employment tax liability upon the
                                    exercise of an Incentive Stock Option (SEE
                                    INCENTIVE STOCK OPTION HOLDING PERIOD),
                                    although the excess, if any, of the Fair
                                    Market Value of the shares of Common Stock
                                    on the date of exercise over the Exercise
                                    Price will be treated as income for
                                    alternative minimum tax ("AMT") purposes and
                                    may subject you to AMT in the year of
                                    exercise. Please check with your tax
                                    advisor.

         (b)  DISQUALIFYING DISPOSITION:

                                    In the event of a disqualifying disposition
                                    (described below), you will recognize
                                    ordinary income equal to the difference
                                    between the exercise price and the sale
                                    price of the Common Stock on the date it is
                                    sold. As of this date, current law does not
                                    require the Company to withhold federal,
                                    state or employment taxes on the income you
                                    recognize upon a disqualifying disposition,
                                    however, this amount will be reported on
                                    your Form W-2.

         (c)  INCENTIVE STOCK OPTION
              HOLDING PERIOD:       In order to receive Incentive Stock Option
                                    tax treatment under Section 422 of the Code,
                                    you may not dispose of shares acquired under
                                    an Incentive Stock Option Award (i) for two
                                    (2) years from the Date of Grant and (ii)
                                    for one (1) year after the date you exercise
                                    your Incentive Stock Option. YOU MUST NOTIFY
                                    THE COMPANY WITHIN TEN (10) DAYS OF AN EARLY
                                    DISPOSITION OF COMMON STOCK (I.E., A
                                    "DISQUALIFYING DISPOSITION").

<PAGE>

DESIGNATION OF BENEFICIARY:         You may designate a beneficiary, on a form
                                    acceptable to the Committee, to receive
                                    rights under this Incentive Stock Option
                                    Award, in the event of your death. If a
                                    beneficiary is not designated, your
                                    Incentive Stock Option Award will become
                                    part of your estate.

NON-TRANSFERABILITY:                This Incentive Stock Option Award shall not
                                    be transferred, assigned, hypothecated, or
                                    disposed of in any manner by you other than
                                    by will or the laws of intestate succession.

PLAN GOVERNS:                       Notwithstanding anything in this Incentive
                                    Stock Option Award Agreement to the
                                    contrary, the terms of this Incentive Stock
                                    Option Award Agreement shall be subject to
                                    the terms and conditions of the Plan, a copy
                                    of which may be obtained from the Company.
                                    This Incentive Stock Option Award Agreement
                                    is subject to all interpretations,
                                    amendments, rules and regulations
                                    promulgated by the Committee from time to
                                    time pursuant to the Plan. Any capitalized
                                    terms shall have the meaning given to such
                                    terms in the Plan.

                                    Neither the Plan nor this Award Agreement
                                    create any right on the part of any
                                    individual to continue in the employment of
                                    Ameriana Bancorp or any Affiliate of
                                    Ameriana Bancorp.

MODIFICATION AND WAIVER:            The Committee may amend or modify this
                                    Incentive Stock Option Award from time to
                                    time, prospectively or retroactively;
                                    PROVIDED, HOWEVER, that no such amendment or
                                    modification will adversely affect the
                                    rights of the Participant under this Award
                                    Agreement without his or her written
                                    consent.

<PAGE>

         All decisions, determinations and interpretations of the Board of
Directors, or the Committee thereof, in regards to the Plan and/or this
Incentive Stock Option Award Agreement are final and conclusive.

         IN WITNESS WHEREOF, Ameriana Bancorp has caused this Award Agreement to
be executed and said Participant has also executed this Award Agreement as of
the ____day of __________, 2006.

                                 AMERIANA BANCORP

                                 By: ___________________________________________
                                     For the Committee Administering the Plan

                                 By: ___________________________________________

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