Document:

Amendment No. 1 to Zions Bancorporation 2005 Stock Option and Incentive Plan

 EXHIBIT 10.1 
  
 AMENDMENT NO. 1 
 TO 

ZIONS BANCORPORATION 
 2005 STOCK
OPTION AND INCENTIVE PLAN 
  
 Amendment, effective as of
May 8, 2007, to the Zions Bancorporation (the “Company”) 2005 Stock Option and Incentive Plan (the “Plan”). 
  
 WHEREAS, the Compensation Committee of the Board of Directors desires to amend Section 2.13 of the Plan modify the number of shares of the
Company’s common stock purchasable under options granted to directors annually; and 
  
 WHEREAS, Section 2.13(b) of the Plan authorizes the Compensation Committee to modify the number of shares purchasable under options granted to directors in its discretion; 
  
 NOW THEREFORE, the Plan shall be amended as follows: 
  

	 	1.	Section 2.13(b) of the Plan shall be amended to read in its entirety as follows: 

  

	 	2.13	Director Stock Options 

  
 (b) Grant of director stock options. Until and unless the Committee in its discretion determines otherwise, pursuant to this
section 2.13 (i) on the first business day after the date the Plan is approved by the Company’s shareholders, each Non-Employee Director shall automatically be granted stock options to purchase four thousand (4,000) shares of Common
Stock, (ii) on the first business day following the annual meeting of the shareholders of the Company in 2006 and 2007, each Non-Employee Director shall automatically be granted stock options to purchase four thousand (4,000) shares of
Common Stock, and (iii) on the first business day following the annual meeting of the shareholders of the Company in each year thereafter, each Non-Employee Director shall automatically be granted stock options to purchase a number of shares of
Common Stock equal to $70,000 divided by the per option expense expected by the Company on such date to be recorded by it for the grant of such options in its financial reports filed with the Securities and Exchange Commission, rounded to the
nearest 100 (the “Determined Amount”). If the number of shares then remaining available for the grant of stock options under the Plan is not sufficient for each Non-Employee Director to be granted a stock option for four thousand
(4,000) shares or the Determined Amount of shares, as the case may be, then each Non-Employee Director shall be granted a stock option for a whole number of shares equal to the number of shares then remaining available divided by the number of
Non-Employee Directors, disregarding any fractional shares. 
  

	 	2.	The Plan, as amended by paragraph 1 of this Amendment, shall remain in full force and affect. 

 AS ADOPTED BY THE COMPENSATION COMMITTEE AND THE BOARD OF DIRECTORS OF THE COMPANY ON MAY 4, 2007.

  

	
	/S/ THOMAS E. LAURSEN
	Thomas E. Laursen
	Secretary of the CompanyRestated Standard Restricted Stock Award Agreement

 EXHIBIT 10.2 
  
 ZIONS BANCORPORATION 
 2005 STOCK
OPTION AND INCENTIVE PLAN 
 RESTATED STANDARD RESTRICTED STOCK AWARD AGREEMENT 
  
 This Restricted Stock Option Award Agreement (this
“Agreement”) is made and entered into as of the date set forth on Exhibit A (the “Grant Date”) by and between Zions Bancorporation, a Utah corporation (the “Company”), and the
person named on Exhibit A (the “Grantee”) pursuant to the Company’s 2005 Stock Option and Incentive Plan (the “Plan”). Capitalized terms not defined in this Agreement have the meanings ascribed to
them in the Plan. 
  
 1. Grant of Restricted Stock.
Pursuant and subject to the Plan and this Agreement, the Company hereby grants to Grantee the number of shares (the “Restricted Stock”) of the Company’s Common Stock (the “Common Stock”) set forth
on Exhibit A. Grantee’s ownership of and rights with respect to the Restricted Stock are limited by the terms and conditions of the Plan and this Agreement, including restrictions on Grantee’s right to transfer the Restricted Stock and
Grantee’s obligation to forfeit and surrender the Restricted Stock upon the occurrence of certain circumstances. 
  
 2. Transfer Restriction. Until lapse of the transfer restriction, the Restricted Stock may not be sold, assigned, transferred, pledged or
otherwise encumbered or disposed of except as specifically provided in the Plan or this Agreement. Additional shares of Common Stock or other property distributed to the Grantee in respect of the Restricted Stock, as dividends or otherwise, shall be
subject to the same restrictions applicable to the Restricted Stock (the term “Restricted Stock” shall also be deemed to include such other shares and property). The Restricted Stock shall be held by the Company in escrow for so long as
the Restricted Stock is subject to transfer restrictions under this Section 2 and the Plan. The Company may direct its stock transfer agent to legend or place a stop transfer order on the Restricted Stock and any certificate issued evidencing
shares of the Restricted Stock shall remain in the possession of the Company until such shares are free of any restriction specified in the Plan or this Agreement. 
  
 3. Lapse of Transfer Restrictions. The transfer restrictions set forth in Section 2 above shall lapse on
the dates set forth on Exhibit A; provided that Grantee has satisfied all applicable tax withholding obligations as provided in Section 5.1 below and the conditions of Sections 5.2 through 5.4 below have been satisfied. 
  
 4. Termination of Employment. In the event of Grantee’s
Termination of Employment for any reason, shares of Restricted Stock that remain subject to transfer restrictions as of the date of such termination shall immediately and automatically be forfeited, surrendered and canceled without consideration and
without any further action by Grantee. 

 5. Conditions to Lapse of Transfer Restrictions. 
  
 5.1 Tax Withholding. Prior to the lapse of transfer restriction on
the Restricted Stock, Grantee must pay, or otherwise provide for to the satisfaction of the Company, any applicable federal or state withholding obligations of the Company. Unless the Committee permits otherwise, or Grantee makes the election
provided for below, Grantee shall provide for payment of withholding taxes upon lapse of the transfer restriction by hereby allowing and directing the Company to retain shares of Restricted Stock with a Fair Market Value (determined as of the date
of exercise) equal to the statutory minimum amount of taxes required to be withheld. In such case, the Company shall issue the net number of shares of Restricted Stock to the Grantee by deducting the shares retained from the total number of shares
of Restricted Stock that are no longer subject to transfer restrictions. 
  
 Grantee may elect to pay for taxes by depositing funds into their brokerage account prior to vesting and directing the Company to use said funds to cover the statutory minimum amount of taxes required to be withheld
(determined by the Fair Market Value on vesting date). This election must be made eight days prior to vesting or the Company will default to retaining shares of Restricted Stock as stated above. 
  
 5.2 Compliance with Laws. The transfer restrictions set fourth in
Section 2 above shall not lapse unless such lapse and the issuance or release of the related shares of Restricted Stock is in compliance, to the reasonable satisfaction of the Committee, with all applicable federal and state securities laws, as
they are in effect on the date of the lapse of restrictions. 
  
 5.3 Other Conditions. The Committee may require that Grantee comply with such other procedures relating to the lapse of transfer restrictions on the Restricted Stock and the release of shares of Restricted Stock to Grantee as the
Committee may determine, including the use of specified broker-dealers and the manner in which Grantee shall satisfy tax withholding obligations with respect to shares of Restricted Stock released from transfer restrictions. 
  
 5.4 Release of Shares. As promptly as is practicable after the lapse
of transfer restrictions and satisfaction of Sections 5.1 through 5.3 above, the Company shall release the shares of Restricted Stock registered in the name of Grantee, Grantee’s authorized assignee or Grantee’s legal representative. The
Company may postpone such release until it receives satisfactory proof that the release of such shares will not violate any of the provisions of the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, any rules or
regulations of the Securities and Exchange Commission (the “SEC”) promulgated thereunder, or the requirements of applicable state law relating to authorization, issuance or sale of securities, or until there has been
compliance with the provisions of such acts or rules. Grantee understands that the Company is under no obligation to register or qualify the Restricted Stock or Common Stock with the SEC, any state securities commission or any stock exchange to
effect such compliance. 
  

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 6. Right of Offset. The Company shall have the right to offset against the obligation to
release shares of Restricted Stock, any outstanding amounts then owed by Grantee to the Company. 
  
 7. Nontransferability of Agreement. This rights conferred by this Agreement shall not be assignable or transferable by Grantee other than by
will or by the laws of descent and distribution, and shall be exercisable during the life of the Grantee only by the Grantee or the Grantee’s legal representative and any such attempted assignment, transfer or exercise in contravention of this
Section 7 shall be void. 
  
 8. Privileges of Stock
Ownership. Grantee shall have the rights of a stockholder with respect to the voting of the Restricted Stock and cash dividends paid by the Company. All regular dividends on shares of the Restricted Stock shall be paid directly to Grantee
and shall not be held in escrow (such distributions may, however, be delivered to an address at the Company for delivery to Grantee). 
  
 9. No Obligation to Employ. Nothing in the Plan or this Agreement shall confer on Grantee any right to continue in the employ of, or other
relationship with, the Company or any Related Entity, or limit in any way the right of the Company or any Related Entity to terminate Grantee’s employment or other relationship at any time, with or without Cause. 
  
 10. Change in Control. Subject to the terms of
the Plan, Grantee shall be entitled to the benefits of Section 3.7 of the Plan with respect to the Restricted Stock. 
  
 11. Entire Agreement. This Option is granted pursuant to the Plan and this Option and Agreement are subject to the terms and conditions of
the Plan. The Plan is incorporated herein by reference. This Agreement, the Plan and such other documents as may be executed in connection with this Restricted Stock grant constitute the entire agreement and understanding of the parties hereto with
respect to the subject matter hereof and supersede all prior understandings and agreements with respect to such subject matter. Any action taken or decision made by the Committee arising out of or in connection with the construction, administration,
interpretation or effect of this Agreement shall lie within its sole and absolute discretion, as the case may be, and shall be final, conclusive and binding on the Grantee and all persons claiming under or through the Grantee. 
  
 12. Notices. Any notice required to be given or delivered to
the Company under the terms of this Agreement shall be in writing and addressed to the Corporate Secretary of the Company at its principal corporate offices. Any notice required to be given or delivered to Grantee shall be in writing and addressed
to Grantee at the address indicated below or to such other address as such party may designate in writing from time to time to the Company. All notices shall be deemed to have been given or delivered upon: 
  

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 personal delivery; three (3) days after deposit in the United States mail by certified or registered mail (return
receipt requested); one (1) business day after deposit with any return receipt express courier (prepaid); or one (1) business day after transmission by facsimile. 
  
 13. Successors and Assigns. The Company may assign any of its rights under this Agreement. This Agreement
shall be binding upon and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein, this Agreement and the Plan shall be binding upon Grantee and Grantee’s heirs, executors,
administrators, legal representatives, successors and assigns. 
  
 14. Governing Law. This Agreement shall be governed by and construed in accordance with the internal laws of the State of Utah without regard to that body of law pertaining to choice of law or conflict of laws. 
  
 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the date noted above. 
  

			
	ZIONS BANCORPORATION
		
	By:  	 	/s/ HARRIS H. SIMMONS

  

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 Exhibit A 
  

					
	Grant Date:	  	  

	  	 
			
	Name of Grantee:	  	  

	  	 
			
	Number of Shares of Restricted Stock:	  	  

	  	 

  
 Lapse of Transfer Restrictions: The
transfer restriction set forth in Section 2 of the Restricted Stock Award Agreement shall lapse with respect to the following amounts of the Restricted Stock on the following dates: 
  

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