Document:

COMMON STOCK PURCHASE WARRANT

"THE TRANSFER OF THIS SECURITY IS SUBJECT TO RESTRICTIONS CONTAINED HEREIN.  THIS SECURITY HAS BEEN ISSUED IN RELIANCE UPON THE REPRESENTATION OF HOLDER THAT IT HAS BEEN ACQUIRED FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TOWARDS THE RESALE OR OTHER DISTRIBUTION THEREOF.  THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS AND MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER SAID ACT AND ANY APPLICABLE STATE SECURITIES LAWS, OR AN OPINION OF COUNSEL SATISFACTORY TO COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED."

COMMON STOCK PURCHASE WARRANT

To Purchase Up To ____________ Shares of the Common Stock of 

Quantum Fuel Systems Technologies Worldwide, Inc.

THIS IS TO CERTIFY THAT Alan Abramson, or registered assigns (the "Holder"), is entitled, during the Exercise Period (as hereinafter defined), to purchase from Quantum Fuel Systems Technologies Worldwide, Inc, a Delaware corporation (the "Company"), the Warrant Stock (as hereinafter defined), in whole or in part, at a purchase price of $0.85 per share, all on and subject to the terms and conditions hereinafter set forth.

	Definitions.  As used in this Warrant, the following terms have the respective meanings set forth below:

"Affiliate" means any person or entity that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control with a person or entity, as such terms are used in and construed under Rule 144 under the Securities Act. With respect to a Holder of Warrants, any investment fund or managed account that is managed on a discretionary basis by the same investment manager as such Holder will be deemed to be an Affiliate of such Holder.

"Appraised Value" means, in respect of any share of Common Stock on any date herein specified, the fair saleable value of such share of Common Stock (determined with giving effect to the discount for (i) a minority interest or (ii) any lack of liquidity of the Common Stock or to the fact that the Company may have no class of equity registered under the Exchange Act) as of the last day of the most recent fiscal month ending prior to such date specified, based on the value of the Company on a fully-diluted basis, as determined by a nationally recognized investment banking firm selected by the Company's Board of Directors and having no prior relationship with the Company.

"Business Day" means any day except Saturday, Sunday and any day which shall be a legal holiday or a day on which banking institutions in the State of New York generally are authorized or required by law or other government actions to close.

"Change of Control" means the (i) acquisition by an individual or legal entity or group (as set forth in Section 13(d) of the Exchange Act) of more than one-half of the voting rights or equity interests in the Company; or (ii) sale, conveyance, or other disposition of all or substantially all of the assets, property or business of the Company or the merger into or consolidation with any other corporation (other than a wholly owned subsidiary corporation) or effectuation of any transaction or series of related transactions where holders of the Company's voting securities prior to such transaction or series of transactions fail to continue to hold at least 50% of the voting power of the Company (or, if other than the Company, the successor or acquiring entity) immediately following such transaction.

"Closing Date" means August 3, 2009.

"Commission" means the Securities and Exchange Commission or any other federal agency then administering the Securities Act and other federal securities laws.

"Common Stock" means (except where the context otherwise indicates) the Common Stock, $0.001 par value per share, of the Company as constituted on the Closing Date, and any capital stock into which such Common Stock may thereafter be changed or converted, and shall also include (i) capital stock of the Company of any other class (regardless of how denominated) issued to the holders of shares of Common Stock upon any reclassification thereof which is also not preferred as to dividends or assets on liquidation over any other class of stock of the Company and which is not subject to redemption and (ii) shares of common stock of any successor or acquiring corporation received by or distributed to the holders of Common Stock of the Company in the circumstances contemplated by Section 4.

"Current Market Price" means, in respect of any share of Common Stock on any date herein specified,

(1)if there shall not then be a public market for the Common Stock, the higher of

(a)the book value per share of Common Stock at such date, and

(b)the Appraised Value per share of Common Stock at such date, or

(2)if there shall then be a public market for the Common Stock, the average of the daily market prices for the five (5) consecutive trading days immediately before such date. The daily market price for each such trading day shall be (i) the closing bid price on such day on the OTC Bulletin Board or principal stock exchange (including Nasdaq) on which such Common Stock is then listed or admitted to trading, or quoted, as applicable, (ii) if no sale takes place on such day on the OTC Bulletin Board or any such exchange, the last reported closing bid price on such day as officially quoted on the OTC Bulletin Board or any such exchange (including Nasdaq), (iii) if the Common Stock is not then listed or admitted to trading on the OTC Bulletin Board or any stock exchange, the last reported closing bid price on such day in the over-the-counter market, as furnished by the National Association of Securities Dealers Automatic Quotation System or the National Quotation Bureau, Inc., (iv) if neither such corporation at the time is engaged in the business of reporting such prices, as furnished by any similar firm then engaged in such business, or (v) if there is no such firm, as furnished by any member of FINRA selected mutually by the holder of this Warrant and the Company or, if they cannot agree upon such selection, as selected by two such members of FINRA, one of which shall be selected by the holder of this Warrant and one of which shall be selected by the Company.

"Current Warrant Price" means, in respect of a share of Common Stock at any date herein specified, the price at which a share of Common Stock may be purchased pursuant to this Warrant on such date.  Unless and until the Current Warrant Price is adjusted pursuant to the terms herein, the initial Current Warrant Price shall be $0.85 per share of Common Stock.

"Exchange Act" means the Securities Exchange Act of 1934, as amended, or any similar federal statute, and the rules and regulations of the Commission thereunder, all as the same shall be in effect from time to time.

"Exercise Period" means the period during which this Warrant is exercisable pursuant to Section 2.

"Expiration Date" means August 3, 2014, subject to modification as provided herein.

"FINRA" means the Financial Industry Regulatory Authority, Inc., or any successor corporation thereto.

"Other Property" has the meaning set forth in Section 4.

"Person" means any individual, sole proprietorship, partnership, joint venture, trust, incorporated organization, association, corporation, limited liability company, institution, public benefit corporation, entity or government (whether federal, state, county, city, municipal or otherwise, including, without limitation, any instrumentality, division, agency, body or department thereof).

"Restricted Common Stock" means shares of Common Stock which are, or which upon their issuance upon the exercise of any Warrant would be required to be, evidenced by a certificate bearing the restrictive legend set forth in Section 3.2.

"Securities Act" means the Securities Act of 1933, as amended, or any similar federal statute, and the rules and regulations of the Commission thereunder, all as the same shall be in effect at the time.

"Subscription Agreement" means that certain Subscription Agreement dated as of the Closing Date by and among the Company and the other parties named therein, pursuant to which this Warrant was originally issued.

"Trading Day" means any day on which the primary market on which shares of Common Stock are listed is open for trading.

"Transfer" means any disposition of any Warrant or Warrant Stock or of any interest in either thereof, which would constitute a sale thereof within the meaning of the Securities Act.

"Warrants" means this Warrant and all warrants issued upon transfer, division or combination of, or in substitution for, any thereof. All Warrants shall at all times be identical as to terms and conditions and date, except as to the number of shares of Common Stock for which they may be exercised.

"Warrant Price" means an amount equal to (i) the number of shares of Common Stock being purchased upon exercise of this Warrant pursuant to Section 2.1, multiplied by (ii) the Current Warrant Price.

"Warrant Stock" means up to __________ shares of Common Stock to be purchased upon the exercise hereof, subject to adjustment as provided herein.

	Exercise of Warrant.

	Manner of Exercise.  From and after the first Business Day following the six month anniversary of the Closing Date, and until 5:00 P.M., New York time, on the Expiration Date (the "Exercise Period"), the Holder may exercise this Warrant, on any Business Day, for all or any part of the number of shares of Warrant Stock purchasable hereunder, subject to the terms and conditions of this Warrant.

In order to exercise this Warrant, in whole or in part, the Holder shall deliver to the Company at its principal executive office or at the office or agency designated by the Company as provided herein, (i) a written notice of Holder's election to exercise this Warrant, which notice shall specify the number of shares of Warrant Stock to be purchased, (ii) payment of the Warrant Price as provided herein, and (iii) this Warrant.  Such notice shall be irrevocable and substantially in the form of the subscription form appearing at the end of this Warrant as Exhibit A, duly executed by the Holder or its agent or attorney. Upon receipt thereof, the Company shall, as promptly as reasonably practicable, execute or cause to be executed and deliver or cause to be delivered to the Holder a certificate or certificates representing the aggregate number of full shares of Warrant Stock issuable upon such exercise, together with cash in lieu of any fraction of a share, as hereinafter provided. The stock certificate or certificates so delivered shall be, to the extent possible, in such denomination or denominations as the Holder shall reasonably request in the notice and shall be registered in the name of the Holder or if permitted pursuant to the terms of this Warrant such other name as shall be designated in the notice. This Warrant shall be deemed to have been exercised and such certificate or certificates shall be deemed to have been issued, and the Holder or any other Person so designated to be named therein shall be deemed to have become a Holder of record of such shares for all purposes, as of the date when the notice, together with the payment of the Warrant Price and this Warrant, is received by the Company as described above. If this Warrant shall have been exercised in part, the Company shall, at the time of delivery of the certificate or certificates representing Warrant Stock, deliver to the Holder a new Warrant evidencing the rights of the Holder to purchase the unpurchased shares of Common Stock called for by this Warrant, which new Warrant shall in all other respects be identical with this Warrant, or at the request of the Holder, appropriate notation may be made on this Warrant and the same returned to the Holder.

Payment of the Warrant Price may be made at the option of the Holder by: (i) certified or official bank check payable to the order of the Company, or (ii) wire transfer of immediately available funds to the account of the Company; or (iii) in accordance with Section 2.4 below.  All shares of Common Stock issuable upon the exercise of this Warrant pursuant to the terms hereof shall be validly issued and, upon payment of the Warrant Price, shall be fully paid and nonassessable and not subject to any preemptive rights.

	Fractional Shares.  The Company shall not be required to issue a fractional share of Common Stock upon exercise of any Warrant. As to any fraction of a share which the Holder of one or more Warrants, the rights under which are exercised in the same transaction, would otherwise be entitled to purchase upon such exercise, the Company shall pay an amount in cash equal to the Current Market Price per share of Common Stock on the date of exercise multiplied by such fraction.

	Restrictions on Exercise Amount.  The Company shall not effect the exercise of this Warrant, and the Holder shall not have the right to exercise this Warrant, to the extent that after giving effect to such exercise, such Person (together with such Person's affiliates) would beneficially own in excess of 9.99% (the "Maximum Percentage") of the shares of Common Stock outstanding immediately after giving effect to such exercise.  For purposes of the foregoing sentence, the aggregate number of shares of Common Stock beneficially owned by such Person and its affiliates shall include the number of shares of Common Stock issuable upon exercise of this Warrant with respect to which the determination of such sentence is being made, but shall exclude shares of Common Stock which would be issuable upon (i) exercise of the remaining, unexercised portion of this Warrant beneficially owned by such Person and its affiliates and (ii) exercise or conversion of the unexercised or unconverted portion of any other securities of the Company beneficially owned by such Person and its affiliates (including, without limitation, any convertible notes or convertible preferred stock or warrants) subject to a limitation on conversion or exercise analogous to the limitation contained herein.  Except as set forth in the preceding sentence, for purposes of this paragraph, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended.  For purposes of this Warrant, in determining the number of outstanding shares of Common Stock, the Holder may rely on the number of outstanding shares of Common Stock as reflected in (1) the Company's most recent Form 10-K, Form 10-Q, Current Report on Form 8-K or other public filing with the Securities and Exchange Commission, as the case may be, (2) a more recent public announcement by the Company or (3) any other notice by the Company or the Transfer Agent setting forth the number of shares of Common Stock outstanding.  For any reason at any time, upon the written or oral request of the Holder, the Company shall within two (2) Business Days confirm orally and in writing to the Holder the number of shares of Common Stock then outstanding.  In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including this Warrant, by the Holder and its affiliates since the date as of which such number of outstanding shares of Common Stock was reported.  By written notice to the Company, the Holder may from time to time increase or decrease the Maximum Percentage to any other percentage not in excess of 9.99% specified in such notice; provided that (i) any such increase will not be effective until the sixty-first (61st) day after such notice is delivered to the Company, and (ii) any such increase or decrease will apply only to the Holder.  The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 2.3 to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended beneficial ownership limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation.

	Cashless Exercise.  The Holder shall have the right to convert this Warrant (the "Conversion Right") into Warrant Stock as provided in this Section 2.4 at any time during the Exercise Period.  Upon exercise of the Conversion Right with respect to shares of Warrant Stock (the "Converted Warrant Shares"), the Company shall deliver to the Holder (without payment by the Holder of any exercise price or any cash or other consideration) that number of shares of Warrant Stock computed using the following formula:

X = Y (A - B)

      A

Where:X =the number of shares of Warrant Stock to be delivered to the Holder;

Y =the number of Converted Warrant Shares;

A =the Current Market Price; and

B =the Current Warrant Price (as adjusted on the Conversion Date).

No fractional shares shall be issuable upon exercise of the Conversion Right, and if the number of shares to be issued (determined in accordance with the foregoing formula) is other than a whole number, the Company shall pay to the Holder with respect to such fractional shares an amount in cash determined in accordance with Section 2.2.

The Conversion Right may be exercised by the Holder by the surrender of the Warrant at the principal executive office of the Company together with a written statement specifying that the Holder thereby intends to exercise the Conversion Right and indicating the total number of shares under the Warrant that the Holder is exercising through the Conversion Right.  Such conversion shall be effective upon receipt by the Company of the Warrant together with the aforesaid written statement, or on such later date as is specified therein (the "Conversion Date").  Certificates for the shares issuable upon exercise of the Conversion Right shall be delivered to the Holder promptly following the Conversion Date and, if applicable, a new warrant evidencing the balance of the shares remaining subject to the Warrant shall also be delivered to the Holder.

	Transfer, Division and Combination.

	Transfer.  Subject to compliance with any applicable securities laws and the conditions set forth in Section 3.3 hereof, this Warrant and all rights hereunder  are transferable, in whole or in part, upon surrender of this Warrant at the principal office of the Company or its designated agent, together with a written assignment of this Warrant substantially in the form attached hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay any transfer taxes payable upon the making of such transfer.  Upon such surrender and, if required, such payment, the Company shall execute and deliver a new Warrant or Warrants in the name of the assignee or assignees and in the denomination or denominations specified in such instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant shall promptly be cancelled.  A Warrant, if properly assigned, may be exercised by a new holder for the purchase of Warrant Shares without having a new Warrant issued.

	Warrant Register.  The Company shall register this Warrant, upon records to be maintained by the Company for that purpose (the "Warrant Register"), in the name of the record Holder hereof from time to time. The Company may deem and treat the registered Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and for all other purposes, absent actual notice to the contrary.

	Transfer Restrictions.  If, at the time of the surrender of this Warrant in connection with any transfer of this Warrant, the transfer of this Warrant shall not be registered pursuant to an effective registration statement under the Securities Act and under applicable state securities or blue sky laws, the Company may require, as a condition of allowing such transfer (i) that the Holder or transferee of this Warrant, as the case may be, furnish to the Company a written opinion of counsel (which opinion shall be in form, substance and scope customary for opinions of counsel in comparable transactions) to the effect that such transfer may be made without registration under the Securities Act and under applicable state securities or blue sky laws, (ii) that the holder or transferee execute and deliver to the Company an investment letter in form and substance acceptable to the Company and (iii) that the transferee be an "accredited investor" as defined in Rule 501(a) promulgated under the Securities.     

	Restrictive Legends.  Each certificate for Warrant Stock initially issued upon the exercise of this Warrant, and each certificate for Warrant Stock issued to any subsequent transferee of any such certificate, unless, in each case, such Warrant Stock is eligible for resale without registration pursuant to Rule 144(k) or an effective registration statement under the Securities Act, shall bear the following legend:

"THE SECURITIES EVIDENCED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT") OR ANY STATE SECURITIES LAWS, AND MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED, ASSIGNED, HYPOTHECATED OR OTHERWISE TRANSFERRED UNLESS (A) THERE IS AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT, AND APPLICABLE STATE SECURITIES LAWS, COVERING ANY SUCH TRANSACTION INVOLVING SAID SECURITIES OR (B) THE COMPANY HAS RECEIVED AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY STATING THAT SUCH TRANSACTION IS EXEMPT FROM REGISTRATION. "

The legend set forth above shall be removed and the Company shall issue a certificate without such legend to the holder of the Shares upon which it is stamped or issue to such holder by electronic delivery at the applicable balance account at DTC, if (i) such Shares are registered for resale under the Securities Act, (ii) such Shares are sold or transferred pursuant to Rule 144 (assuming the transferor is not an Affiliate of the Company), (iii) such Shares are eligible for sale under Rule 144(k), or (iv) if such legend is not required under applicable requirements of the Securities Act (including controlling judicial interpretations and pronouncements issued by the Commission).  

	Division and Combination; Expenses; Books. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office or agency of the Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by the Holder or its agent or attorney. Subject to compliance with Section 3.1 as to any transfer which may be involved in such division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided or combined in accordance with such notice.  The Company shall prepare, issue and deliver at Holder's expense the new Warrant or Warrants under this Section 3.  

	Adjustments. The number of shares of Common Stock for which this Warrant is exercisable, and the price at which such shares may be purchased upon exercise of this Warrant, shall be subject to adjustment from time to time as set forth in this Section 4. 

	Stock Dividends, Subdivisions and Combinations. If at any time while this Warrant is outstanding the Company shall:

(i)declare a dividend or make a distribution on its outstanding shares of Common Stock in shares of Common Stock;

(ii)subdivide its outstanding shares of Common Stock into a larger number of shares of Common Stock; or

(iii)combine its outstanding shares of Common Stock into a smaller number of shares of Common Stock, then:

(1) the number of shares of Common Stock acquirable upon exercise of this Warrant immediately after the occurrence of any such event shall be adjusted to equal the number of shares of Common Stock which a record holder of the same number of shares of Common Stock that would have been acquirable under this Warrant immediately prior to the record date for such

dividend or distribution or the effective date of such subdivision or combination would own or be entitled to receive after such record date or the effective date of such subdivision or combination, as applicable, and

(2)the Current Warrant Price shall be adjusted to equal:

(A)the Current Warrant Price in effect at the time of the record date for such dividend or distribution or of the effective date of such subdivision or combination, multiplied by the number of shares of Common Stock into which this Warrant is exercisable immediately prior to the adjustment, divided by

(B)the number of shares of Common Stock into which this Warrant is exercisable immediately after such adjustment.

Any adjustment made pursuant to clause (i) of this paragraph shall become effective immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution, and any adjustment pursuant to clauses (ii) or (iii) of this paragraph shall become effective immediately after the effective date of such subdivision or combination.

	Certain Other Distributions. If at any time while this Warrant is outstanding the Company shall cause all of the holders of its Common Stock to be entitled to receive any dividend or other distribution of:

(i)cash,

(ii)any evidences of its indebtedness, any shares of stock of any class or any other securities or property or assets of any nature whatsoever (other than cash or additional shares of Common Stock as provided in Section 4.1 hereof), or

(iii)any warrants or other rights to subscribe for or purchase any evidences of its indebtedness, any shares of stock of any class or any other securities or property or assets of any nature whatsoever (in each case set forth in subparagraphs 4.2(i), 4.2(ii) and 4.2(iii) hereof, the "Distributed Property"), then upon any exercise of this Warrant that occurs after the record date for such dividend or other distribution, the holder of this Warrant shall be entitled to receive, in addition to the shares of Warrant Stock, the Distributed Property that such holder would have been entitled to receive in respect of such number of Warrant Shares had the holder been the record holder of such Warrant Shares as of such record date. Such distribution shall be made whenever any such exercise is made. A reclassification of the Common Stock (other than a change in par value, or from par value to no par value or from no par value to par value) into shares of Common Stock and shares of any other class of stock shall be deemed a distribution by the Corporation to the holders of its Common Stock of such shares of such other class of stock within the meaning of this Section 4.2 and, if the outstanding shares of Common Stock shall be changed into a larger or smaller number of shares of Common Stock as a part of such reclassification, such change shall be deemed a subdivision or combination, as the case may be, of the outstanding shares of Common Stock within the meaning of Section 4.1.

	Other Provisions Applicable to Adjustments. The following provisions shall be applicable to the making of adjustments of the number of shares of Common Stock into which this Warrant is exercisable and the Current Warrant Price provided for in Section 4:

	When Adjustments to Be Made. The adjustments required by Section 4 shall be made whenever and as often as any specified event requiring an adjustment shall occur, except that any that would otherwise be required may be postponed (except in the case of a subdivision or combination of shares of the Common Stock, as provided for in Section 4.1) up to, but not beyond the date of exercise if such adjustment either by itself or with other adjustments not previously made adds or subtracts less than 1% of the shares of Common Stock into which this Warrant is exercisable immediately prior to the making of such adjustment. Any adjustment representing a change of less than such minimum amount (except as aforesaid) which is postponed shall be carried forward and made as soon as such adjustment, together with other adjustments required by this Section 4 and not previously made, would result in a minimum adjustment or on the date of exercise. For the purpose of any adjustment, any specified event shall be deemed to have occurred at the close of business on the date of its occurrence.

	Fractional Interests. In computing adjustments under this Section 4, fractional interests in Common Stock shall be taken into account to the nearest 1/100th of a share.

	When Adjustment Not Required. If the Company undertakes a transaction contemplated under this Section 4 and as a result takes a record of the holders of its Common Stock for the purpose of entitling them to receive a dividend or distribution or subscription or purchase rights or other benefits contemplated under this Section 4 and shall, thereafter and before the distribution to stockholders thereof, legally abandon its plan to pay or deliver such dividend, distribution, subscription or purchase rights or other benefits contemplated under this Section 4, then thereafter no adjustment shall be required by reason of the taking of such record and any such adjustment previously made in respect thereof shall be rescinded and annulled.

	Escrow of Stock. If after any property becomes distributable pursuant to Section 4 by reason of the taking of any record of the holders of Common Stock, but prior to the occurrence of the event for which such record is taken, a holder of this Warrant exercises the Warrant during such time, then such holder shall continue to be entitled to receive any shares of Common Stock issuable upon exercise hereunder by reason of such adjustment and such shares or other property shall be held in escrow for the holder of this Warrant by the Company to be issued to holder of this Warrant upon and to the extent that the event actually takes place. Notwithstanding any other provision to the contrary herein, if the event for which such record was taken fails to occur or is rescinded, then such escrowed shares shall be canceled by the Company and escrowed property returned to the Company.

	Reorganization, Reclassification, Merger, Consolidation or Disposition of Assets.

	If there shall occur a Change of Control and, pursuant to the terms of such Change of Control, shares of common stock of the successor or acquiring corporation, or any cash, shares of stock or other securities or property of any nature whatsoever (including warrants or other subscription or purchase rights) in addition to or in lieu of common stock of the successor or acquiring corporation ("Other Property"), are to be received by or distributed to the holders of Common Stock of the Company, then the Holder of this Warrant shall have the right thereafter for the balance of the Exercise Period to receive, upon the exercise of the Warrant, the number of shares of common stock of the successor or acquiring corporation or of the Company, if it is the surviving corporation, and the Other Property receivable upon or as a result of such Change of Control by a holder of the number of shares of Common Stock into which this Warrant is exercisable immediately prior to such event. 

	In case of any such Change of Control described above, the resulting, successor or acquiring entity (if not the Company) and, if an entity different from the successor or acquiring entity, the entity whose capital stock or assets the holders of the Common Stock are entitled to receive as a result of such Change of Control, shall assume by written instrument all of the obligations of this Warrant and the Transaction Documents (as defined in the Subscription Agreement), subject to such modifications as may be deemed appropriate (as determined by resolution of the Board of Directors of the Company) in order to provide for adjustments of shares of the Common Stock into which this Warrant is exercisable which shall be as nearly equivalent as practicable to the adjustments provided for in Section 4. For purposes of Section 4, common stock of the successor or acquiring corporation shall include stock of such corporation of any class which is not preferred as to dividends or assets on liquidation over any other class of stock of such corporation and which is not subject to redemption and shall also include any evidences of indebtedness, shares of stock or other securities which are convertible into or exchangeable for any such stock, either immediately or upon the arrival of a specified date or the happening of a specified event and any warrants or other rights to subscribe for or purchase any such stock. The foregoing provisions of this Section 4 shall similarly apply to successive Change of Control transactions.

	Stock Transfer Taxes. The issue of stock certificates upon exercise of this Warrant shall be made without charge to the holder for any tax in respect of such issue. The Company shall not, however, be required to pay any tax which may be payable in respect of any transfer involved in the issue and delivery of shares in any name other than that of the holder of this Warrant, and the Company shall not be required to issue or deliver any such stock certificate unless and until the person or persons requesting the issue thereof shall have paid to the Company the amount of such tax or shall have established to the satisfaction of the Company that such tax has been paid.

	No Rights as Stockholder.  This Warrant does not entitle the Holder to any voting or other rights as a stockholder of the Company prior to exercise and payment for the Warrant Price in accordance with the terms hereof.

	Reservation and Authorization of Common Stock.  From and after the Closing Date, the Company shall at all times reserve and keep available for issue upon the exercise of Warrants such number of its authorized but unissued shares of Common Stock as will be sufficient to permit the exercise in full of all outstanding Warrants

	Taking of Record; Stock and Warrant Transfer Books. In the case of all dividends or other distributions by the Company to the holders of its Common Stock with respect to which any provision of Section 4 refers to the taking of a record of such holders, the Company will in each such case take such a record and will take such record as of the close of business on a Business Day.  The Company will not at any time, except upon dissolution, liquidation or winding up of the Company, close its stock transfer books or Warrant transfer books so as to result in preventing or delaying the exercise or transfer of any Warrant.

	Loss or Mutilation.  Upon receipt by the Company from the Holder of evidence reasonably satisfactory to it of the ownership of and the loss, theft, destruction or mutilation of this Warrant and indemnity or security reasonably satisfactory to it and reimbursement to the Company of all reasonable expenses incidental thereto and in case of mutilation upon surrender and cancellation hereof, the Company, at Holder's cost, will execute and deliver in lieu hereof a new Warrant of like tenor to the Holder; provided, however, that in the case of mutilation, no indemnity shall be required if this Warrant in identifiable form is surrendered to the Company for cancellation.

	Office of the Company.  As long as any of the Warrants remain outstanding, the Company shall maintain an office or agency (which may be the principal executive offices of the Company) where the Warrants may be presented for exercise, registration of transfer, division or combination as provided in this Warrant.

	Miscellaneous.

	Nonwaiver. No course of dealing or any delay or failure to exercise any right or obligation hereunder on the part of the Holder or the Company shall operate as a waiver of such right or obligation, unless the same shall be in writing signed by the Holder or the Company.  

	Notice Generally.  All notices, requests, demands or other communications provided for herein shall be in writing and shall be given in the manner and to the addresses set forth in the Subscription Agreement.

	Successors and Assigns. Subject to compliance with the provisions of Section 3.1, this Warrant and the rights evidenced hereby shall inure to the benefit of and be binding upon the successors of the Company and the successors and assigns of the Holder. The provisions of this Warrant are intended to be for the benefit of all Holders from time to time of this Warrant, and shall be enforceable by any such Holder.

	Amendment. This Warrant may be modified or amended or the provisions of this Warrant waived with the written consent of both the Company and the Holder.

	Severability.  Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be modified to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of this Warrant.

	Headings. The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of this Warrant.  

	Governing Law. This Warrant and the transactions contemplated hereby shall be deemed to be consummated in the State of Delaware and shall be governed by and interpreted in accordance with the local laws of the State of Delaware without regard to the provisions thereof relating to conflicts of laws. 

	Entire Agreement.  This Warrant, together with the Subscription Agreement which this Warrant is subject to and pursuant to which it is given, constitute the entire agreement between the Company and Holder with respect to the subject matter hereof and supersedes any and all other prior or contemporaneous agreements, either oral or written, between the Company and Holder with respect to the subject matter hereof.  

 

 

 

 

 

[Signatures appear on the following page.]

IN WITNESS WHEREOF, Quantum Fuel Systems Technologies Worldwide, Inc. has caused this Warrant to be executed by its duly authorized officer and attested by its Secretary or other designated officer.

Dated:  August ___, 2009

 
Quantum Fuel Systems Technologies Worldwide, Inc.

By:/s/ Ken Lombardo

Name:  Ken Lombardo

Title:    Vice President

 

 

	
ACKNOWLEDGED AND AGREED:

	
 

Holder:  _______________________

	
 

Acknowledgement contained in the Omnibus Signature Page in the Subscription Agreement of each Holderex10-1.htm

    
      
        

      

    

    Exhibit
10.1

     

    
      	
              UNITED
      COMMUNITY BANKS, INC.

            
	
              AMENDED
      AND RESTATED

            
	
              2000
      KEY EMPLOYEE STOCK OPTION PLAN

            
	 
      
	
              STOCK
      OPTION AGREEMENT

            
	
              (Nonqualified
      Stock Option – Executive Officer)

            

    

     

    
      	
              Optionee:

            	 
      	 
      
	 
      	 
      	 
      
	
              Number
      of Shares:

            	 
      	
              ____________________________
      Shares

            
	 
      	 
      	 
      
	
              Option
      Exercise Price:

            	 
      	
              $
      __________ per Share

            
	 
      	 
      	 
      
	
              Date
      of Grant:

            	 
      	 
      
	 
      	 
      	 
      
	
              Vesting
      Schedule:

            	 
      	
              Per
      attached Optionee Statement

            
	 
      	 
      	
              referred
      to herein as “Exhibit
      B”

            
	 
      	 
      	 
      
	
              Territory:

            	
              Any
      county and any contiguous county

            
	 
      	
              and
      any metropolitan statistical area in

            
	 
      	
              which
      any of the Company’s subsidiary

            
	 
      	
              banks
      has an office as of the date
hereof.

            

    

     

              THIS OPTION AGREEMENT (the
“Agreement”)
is entered into as of the ____ day of ______________, _______, by and between
UNITED COMMUNITY BANKS,
INC., a Georgia corporation (the “Company”),
and the individual designated above (the “Optionee”).

     

              WHEREAS, the United Community
Banks, Inc. Amended and Restated 2000 Key Employee Stock Option Plan (the “Plan”) was
adopted by the Company, effective March 15, 2007;

     

              WHEREAS, the Optionee performs
valuable services for the Company, a Subsidiary or one of their affiliates;
and

     

              WHEREAS, the Board of
Directors of the Company or the committee responsible for the administration of
the Plan has determined to grant the Option to the Optionee as provided
herein;

     

              NOW, THEREFORE, for good and
valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties hereto agree as follows:

     

    1.       Grant of the
Option.

     

              1.1          Option. An option to
purchase shares of the Company’s Common Stock, par value $1.00 per share (the
“Shares”),
is hereby granted to the Optionee (the “Option”).

     

              1.2          Number of Shares. The
number of Shares that the Optionee can purchase upon exercise of the Option is
set forth above.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

     

              1.3          Option Exercise
Price. The price the Optionee must pay to exercise the Option (the “Option Exercise
Price”) is set forth above.

     

              1.4          Date of Grant. The
date that the Option is granted (the “Date of
Grant”) is set forth above.

     

              1.5          Type of Option. The
Option is intended to be a Nonqualified Stock Option. It is not intended to
qualify as an Incentive Stock Option within the meaning of Section 422 of the
Internal Revenue Code of 1986, as amended from time to time, or any successor
provision thereto.

     

              1.6          Construction. This
Agreement shall be construed in accordance and consistent with, and subject to,
the provisions of the Plan (the provisions of which are incorporated herein by
reference) and, except as otherwise expressly set forth herein, the capitalized
terms used in this Agreement shall have the same definitions as set forth in the
Plan.

     

              1.7          Execution of
Agreement. The Option is evidenced by this Agreement. If the Optionee
does not execute this Agreement within thirty (30) days of receiving the
Agreement, the Committee may in its discretion cancel the Option and this
Agreement.

     

    2.       Duration.

     

              The
Option shall be exercisable to the extent and in the manner provided herein for
a period of ten (10) years from the Date of Grant (the “Exercise
Term”); provided, however, that the Exercise Term may end earlier as
provided in Sections 5 and 13 hereof.

     

    3.       Vesting.

     

              The
Option shall vest and become exercisable in accordance with the vesting schedule
specified in Exhibit
B. The Optionee may exercise the Option to the extent it is vested during
the Exercise Term, subject to any limitations on exercise contained in Section 7
hereof.

     

    4.       Manner of Exercise and
Payment.

     

              4.1          Delivery. To exercise
the Option, the Optionee must deliver a completed copy of the Option Exercise
Form, attached hereto as Exhibit A and incorporated herein by reference, to the
address indicated on such Form or such other address designated by the Company
from time to time. The Committee may establish a minimum number of Shares (e.g.,
100) for which the Option may be exercised at a particular time.
Contemporaneously with the delivery of the Option Exercise Form, the Optionee
shall tender to the Company the aggregate Option Exercise Price for the Shares
as to which the Optionee is exercising the Option by (i) cash, check, or wire
transfer, (ii) delivering or properly attesting to ownership of Shares with a
Fair Market Value at the date of exercise equal to the aggregate Option Exercise
Price for the Shares as to which the Optionee is exercising the Option, (iii) a
broker-assisted cashless exercise transaction through a brokerage firm
designated by the Optionee, or (iv) or by such other method of payment as may be
acceptable to the Committee pursuant to the Plan. The Company shall deliver to
the Optionee certificates evidencing the Shares, as to which the Option was
exercised within thirty (30) days of the date on which the Optionee delivers the
Option Exercise Form and makes payment of the aggregate Option Exercise Price to
the Company or shall make such Shares available for electronic delivery in the
U.S. to an account the Optionee designates in writing within three (3) business
days after the date on which the Optionee delivers the Option Exercise Form and
makes payment of the aggregate Option Exercise Price to the Company, and in
either case such Shares shall be free and clear of all liens, security
interests, pledges or other claims or charges, except those provided in this
Agreement or the Plan, or any other agreement affecting the Shares.
Notwithstanding the foregoing, if the Optionee is a non-exempt employee for
purposes of the Fair Labor Standards Act of 1938, the Optionee may not exercise
any Option prior to the date that is six (6) months after the Date of Grant
unless the Optionee’s employment has terminated due to death, Disability, or
Retirement after the Date of Grant.

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

    

     

              4.2          No Rights as
Shareholder. The Optionee shall not be deemed to be the holder of, or to
have any of the rights of a holder with respect to any Shares subject to the
Option until (i) the Option shall have been exercised pursuant to the terms of
this Agreement and the Optionee shall have paid the full purchase price for the
number of Shares in respect of which the Option was exercised, (ii) the Company
shall have issued and delivered the Shares to the Optionee, and (iii) the
Optionee’s name shall have been entered as a shareholder of record on the books
of the Company, whereupon the Optionee shall have full voting and other
ownership rights with respect to such Shares, subject to divestment pursuant to
Section 13.

     

    5.       Termination of
Employment.

     

              5.1          Termination of Employment
for Cause. If the Optionee’s employment is terminated by the Company for
Cause, the outstanding Option shall expire immediately, and the Optionee’s right
to exercise the outstanding Option (whether or not vested) shall terminate
immediately upon the date of the Optionee’s termination of
employment.

     

              5.2          Termination of Employment
Without Cause or For Good Reason.

     

                             (1)          If
the Optionee’s employment with the Company and any Subsidiary is terminated
involuntarily by the Company without Cause or is terminated by the Optionee for
Good Reason (as defined in subsection (2) below), the Option shall continue to
vest in accordance with the original vesting schedule set forth in this
Agreement (just as if the Optionee had remained employed) and shall remain
exercisable at any time prior to the expiration of the term of the Option. In
the event of the Optionee’s death after a termination covered by this subsection
5.2, the Option shall continue to vest and be exercisable in accordance with
this subsection 5.2 as if the Optionee had lived and the Option shall be
exercisable by the persons described in Section 5.4.

      
        
           

        

        
          3

          
            

          

        

        
           

        

      

    

     

                          (2)          For
purposes of this Option, the Optionee shall be entitled to terminate his
employment with the Company for Good Reason in the event, without the Optionee’s
express written consent, of any one of the following acts by the Company, or
failures by the Company to act, unless, in the case of any act or failure to act
described in paragraphs (i), (iii), or (iv) below, such act or failure to act is
corrected prior to the Optionee’s date of termination:

    
      	 
      	 
      
	 
      	
                          (i)          a
      material reduction in the Optionee’s responsibilities at the Company;
      or

            
	 
      	 
      
	 
      	
                          (ii)         the
      required relocation of the Optionee’s employment to a location outside of
      the market area of the Company; or

            
	 
      	 
      
	 
      	
                          (iii)        a
      material reduction in the levels of coverage of the Optionee under the
      Company’s director and officer liability insurance policy or
      indemnification commitments; or

            
	 
      	 
      
	 
      	
                          (iv)        a
      substantial reduction in the Optionee’s base salary, a material reduction
      in his incentive compensation or the taking of any action by the Company
      which would, directly or indirectly, materially reduce any of the benefits
      provided to the Optionee under any of the Company’s pension, 401(k),
      deferred compensation, life insurance, medical, accident or disability
      plans in which the Optionee is
participating.

            

    

     

                           The
Optionee’s right to terminate employment for Good Reason shall not be affected
by the Optionee’s incapacity due to physical or mental illness, except for a
Disability as defined in the Plan. The Optionee’s continued employment shall not
constitute consent to, or a waiver of rights with respect to, any act or failure
to act constituting Good Reason hereunder.

     

              5.3         Termination of Employment
Following a Change in Control When Eligible for Retirement. If the
Optionee’s employment with the Company is terminated following a Change in
Control and the Optionee is eligible for Retirement as of the date of such
termination, the outstanding unvested portion of the Option shall immediately
vest and the Option shall remain exercisable at any time prior to the expiration
of the term of the Option.

     

              5.4         Termination of Employment
Due to Death. If the Optionee dies while actively employed by the
Company, the outstanding unvested portion of the Option shall immediately vest,
and thereafter the Option shall remain exercisable at any time prior to its
expiration date or for one (1) year after the date of death, whichever period is
shorter, (i) by such person(s) who have acquired the Optionee’s rights by will
or the laws of descent and distribution, or (ii) if no such person in (i)
exists, by the executor or representative of the Optionee’s estate.

     

              5.5         Termination of Employment by
Disability. In the event the employment of the Optionee is terminated by
reason of Disability, the outstanding unvested portion of the Option shall
expire as of the date the Committee determines the definition of Disability to
have been satisfied by the Optionee, and the outstanding vested portion of the
Option as of that date shall remain exercisable at any time prior to its
expiration date or for one (1) year after the Committee’s determination of
Disability, whichever period is shorter.

      
        
           

        

        
          4

          
            

          

        

        
           

        

      

    

     

              5.6          Voluntary Termination of
Employment or Retirement. If the Optionee voluntarily terminates his or
her employment with the Company (except for Good Reason), including upon
Retirement that does not follow a Change in Control, the outstanding unvested
portion of the Option shall expire as of the date of termination of employment,
and the vested portion of the Option as of the date of termination of employment
shall remain exercisable (i) if the Optionee is not eligible for Retirement as
of the date of such termination, at any time prior to its expiration date or for
three (3) months after the date of termination of employment, whichever period
is shorter, or (ii) if the Optionee is eligible for Retirement as of the date of
such termination, at any time prior to its expiration date.

     

              5.7          Employment by
Subsidiary. For purposes of this Section and Sections 8 and 13,
employment with the Company includes employment with any Subsidiary or service
as a member of the Board of Directors of the Company or a Subsidiary. A change
of employment between the Company and any Subsidiary or between Subsidiaries or
a change in the nature of the Optionee’s service relationship with the Company
and the Subsidiaries (e.g., from employee to Director) without any interruption
in the Optionee’s provision of services is not a termination of employment under
this Agreement.

     

    6.       Nontransferability.

     

              The
Option shall not be transferable other than by will or by the laws of descent
and distribution and during the lifetime of the Optionee. The Option shall be
exercisable only by the Optionee except as provided in Section 5.4.
Notwithstanding the foregoing, any portion or all of the Option which is vested
may be transferred, in whole or in part, without consideration, to a Permitted
Transferee. Appropriate evidence of any such transfer to the Permitted
Transferees shall be delivered to the Company on such forms as the Committee or
Company shall prescribe and shall comply with and indicate the Optionee’s (if
during the lifetime of the Optionee) and the Permitted Transferee’s agreement to
abide by the Company’s then current stock option transfer guidelines. If all or
part of the Option is transferred to a Permitted Transferee, the Permitted
Transferee shall remain subject to all terms and conditions applicable to such
Option prior to the transfer.

     

    7.       Securities Laws
Restrictions.

     

              The
Option may not be exercised at any time unless, in the opinion of counsel for
the Company, the issuance and sale of the Shares issued upon such exercise is
exempt from registration under the Securities Act of 1933, as amended, or any
other applicable federal or state securities law, rule or regulation, or the
Shares have been duly registered under such laws. The Company intends to
register the Shares issuable upon the exercise of the Option; however, until the
Shares have been registered under all applicable laws, the Optionee shall
represent, warrant and agree, as a condition to the exercise of any Option, that
the Shares are being purchased for investment only and without a view to any
sale or distribution of such Shares and that such Shares shall not be
transferred or disposed of in any manner without registration under such laws,
unless it is the opinion of counsel for the Company that such a disposition is
exempt from such registration. The Optionee acknowledges that an appropriate
legend giving notice of the foregoing restrictions may appear conspicuously on
all certificates evidencing the Shares issued upon the exercise of the
Option.

      
        
           

        

        
          5

          
            

          

        

        
           

        

      

    

     

    8.        No Right to Continued
Employment.

     

              Nothing
in this Agreement or the Plan shall be interpreted or construed to confer upon
the Optionee any right with respect to continuance of employment by the Company
or any Subsidiary, nor shall this Agreement or the Plan interfere in any way
with the right of the Company or a Subsidiary to terminate the Optionee’s
employment at any time.

     

    9.        Adjustments.

     

              In
the event of a change in capitalization, the Committee shall make appropriate
adjustments in accordance with the provisions of Section 4.3 of the Plan. The
adjustment shall be effective and final, binding and conclusive for all purposes
of the Plan and this Agreement.

     

    10.      Withholding of
Taxes.

     

              Prior
to the issuance of Shares to the Optionee upon exercise of the Option, the
Optionee shall pay the federal, state, and local income taxes and other amounts
as may be required by law to be withheld (the “Withholding
Taxes”) (if any) to the Company in cash or by check or wire transfer. In
satisfaction of the Withholding Taxes, the Optionee may make a written election
(the “Tax
Election”) to satisfy such withholding obligation by a broker-assisted
cashless exercise transaction through a brokerage firm designated by the
Optionee, by delivering Shares (that have been owned by the Optionee for at
least six (6) months or such other period as may be required by the Committee)
or by having the Company retain from the Shares to be delivered a number of
Shares having an aggregate Fair Market Value equal to the Withholding Taxes,
provided that, if the Optionee may be subject to liability under Section 16(b)
of the Exchange Act, the election must comply with the requirements applicable
to Share transactions by the Optionee. The Company shall have the right to
deduct from any amounts payable to the Optionee for salary, bonuses or otherwise
an amount equal to Withholding Taxes with respect to the Option.

     

    11.      Optionee Bound by the
Plan.

     

              The
Optionee hereby acknowledges receipt of a copy of the Plan and agrees to be
bound by all the terms and provisions thereof.

     

    12.      Modification of
Agreement.

     

              Except
as expressly otherwise provided herein, this Agreement may not be modified,
amended, suspended or terminated, and any terms or conditions may not be waived,
except by a written instrument executed by the parties hereto.

      
        
           

        

        
          6

          
            

          

        

        
           

        

      

    

     

    13.     Cancellation and Rescission
of Awards; Return of Profits.

     

              13.1     If,
during his employment with the Company or at any time during the one (1) year
period after the Date of Termination, the Optionee violates the restrictive
covenants set forth in Section 13.2 below, then the Committee shall,
notwithstanding any other provision in this Agreement to the contrary, (i)
cancel any outstanding portion of the Option (whether or not vested), and (ii)
repurchase any Shares issued to the Optionee pursuant to exercise of the Option
during the period six (6) months prior to and one (1) year after the Date of
Termination at a per Share repurchase price equal to the Option Exercise Price,
and require the Optionee to pay to the Company any gain realized by Optionee
from the sale of Shares issued to the Optionee pursuant to exercise of the
Option during such period.

     

              13.2     The
Optionee will not directly or indirectly, individually, or on behalf of any
Person other than the Company or a Subsidiary:

     

                          (i)          solicit
any Customers for the purpose of providing services identical to or reasonably
substitutable for the Company’s Business;

     

                          (ii)         solicit
or induce, or in any manner attempt to solicit or induce, any Person employed by
the Company to leave such employment, whether or not such employment is pursuant
to a written contract with the Company or any Subsidiary or is at
will;

     

                          (iii)        engage
in any Restricted Activities within the Territory or from a business location
servicing any part of the Territory;

     

                          (iv)        manage
any personnel engaging in any Restricted Activities within the Territory;
or

     

                          (v)         knowingly
or intentionally damage or destroy the goodwill and esteem of the Company, any
Subsidiary, the Company’s Business or the Company’s or any Subsidiary’s
suppliers, employees, patrons, customers , and others who may at any time have
or have had relations with the Company or any Subsidiary.

     

    The
Optionee further agrees that he or she will not, except as necessary to carry
out his duties as an employee of the Company, disclose or use Confidential
Information. The Optionee further agrees that, upon termination or expiration of
employment with the Company for any reason whatsoever or at any time, the
Optionee will upon request by the Company deliver promptly to the Company all
materials (including electronically-stored materials), documents, plans,
records, notes, or other papers, and any copies in the Optionee’s possession or
control, relating in any way to the Company’s Business, which at all times shall
be the property of the Company.

     

              13.3     For
purposes of this Section 13, the following terms shall have the meanings
specified below:

     

                           (i)          ”Company’s
Business” means the business of operating a commercial or retail bank,
savings association, mutual thrift, credit union, trust company, securities
brokerage or insurance agency.

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

     

                           (ii)         ”Confidential
Information”
means information, without regard to form, relating to the Company’s or any
Subsidiary’s customers, operation, finances, and business that derives economic
value, actual or potential, from not being generally known to other Persons,
including, but not limited to, technical or non-technical data (including
personnel data), formulas, patterns, compilations (including compilations of
customer information), programs, devices, methods, techniques, processes,
financial data or lists of actual or potential customers (including identifying
information about customers), whether or not in writing. Confidential
Information includes information disclosed to the Company or any Subsidiary by
third parties that the Company or any Subsidiary is obligated to maintain as
confidential. Confidential Information subject to this Agreement may include
information that is not a trade secret under applicable law, but information not
constituting a trade secret only shall be treated as Confidential Information
under this Agreement for a two (2) year period after the Date of
Termination.

     

                           (iii)        ”Customers” means all Persons that (1)
the Optionee serviced or solicited on behalf of the Company or any Subsidiary,
(2) whose dealings with the Company or any Subsidiary were coordinated or
supervised, in whole or in part, by the Optionee, or (3) about whom the Optionee
obtained Confidential Information, in each case during the term of this
Agreement or while otherwise employed by the Company.

     

                           (iv)        ”Date of
Termination”
means the date upon which the Optionee’s employment with the Company ceases for
any reason.

     

                           (v)        ”Person” means any individual,
corporation, bank, partnership, joint venture, association, joint-stock company,
trust, unincorporated organization or other entity.

     

                           (vi)        ”Restricted
Activities” means serving as a director, officer, executive, manager,
employee or business consultant for a commercial or retail bank, savings
association, mutual thrift, credit union, trust company, securities brokerage or
insurance agency.

     

    14.      Severability.

     

              Should
any provision of this Agreement be held by a court of competent jurisdiction to
be unenforceable or invalid for any reason, the remaining provisions of this
Agreement shall not be affected by such holding and shall continue in full force
in accordance with their terms.

     

    15.      Governing
Law.

     

              The
validity, interpretation, construction and performance of this Agreement shall
be governed by the laws of the United States and the laws of the State of
Georgia without giving effect to the conflicts of laws principles
thereof.

     

    16.      Successors in
Interest.

     

              This
Agreement shall be binding upon, and inure to the benefit of, the Company and
its successors and assigns, and upon any person acquiring, whether by merger,
consolidation, reorganization, purchase of stock or assets, or otherwise, all or
substantially all of the Company’s assets and business. This Agreement shall
inure to the benefit of the Optionee’s heirs and legal representatives. All
obligations imposed upon the Optionee and all rights granted to the Company
under this Agreement shall be final, binding and conclusive upon the Optionee’s
heirs, executors, administrators and successors.

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

     

    17.      Entire
Agreement.

     

              This
Agreement and the Plan contain the entire agreement and understanding of the
parties hereto with respect to the subject matter contained herein and supersede
all prior communications, representations and negotiations in respect
thereto.

     

    18.      Resolution of
Disputes.

     

              18.1          Any
dispute or disagreement which may arise under, or as a result of, or in any way
relate to, the interpretation, construction or application of this Agreement and
the Plan shall be determined by the Committee. Any determination made by the
Committee shall be final, binding and conclusive on the Optionee and the Company
and their successors, assigns, heirs, executors, administrators and legal
representatives for all purposes.

     

              18.2          To
the extent permitted by applicable law, any dispute, disagreement or claim which
may arise under, or as a result of, or in any way relate to, the interpretation,
construction or application of this Agreement or the Plan, any breach hereof or
thereof, or relating to the enforcement or arbitrability of any provision hereof
or thereof, shall be settled by binding arbitration in Atlanta, Georgia by the
American Arbitration Association. Judgment on the arbitrator’s award shall be
final and may be entered in any court having jurisdiction thereof. Except as may
otherwise be determined by the arbitrator(s), each party shall be solely
responsible for any expenses (including attorneys’ fees and disbursements, court
costs and expert witness fees) incurred by it or on its behalf in investigating
and enforcing any rights under this Agreement, and each party shall bear
one-half of the fees and expenses of the arbitrator(s) in connection with any
arbitration or other proceeding.

     

              18.3          THIS AGREEMENT CONTAINS AN
ARBITRATION CLAUSE. BY SIGNING THIS AGREEMENT, THE PARTIES AGREE THAT EACH PARTY
TO THIS AGREEMENT IS GIVING UP THE RIGHT TO SUE THE OTHER PARTY IN COURT,
INCLUDING THE RIGHT TO A TRIAL BY JURY. ARBITRATION AWARDS ARE GENERALLY FINAL
AND BINDING; A PARTY’S ABILITY TO HAVE A COURT REVERSE OR MODIFY AN ARBITRATION
AWARD IS VERY LIMITED. THE ABILITY OF THE PARTIES TO OBTAIN DOCUMENTS, WITNESS
STATEMENTS AND OTHER DISCOVERY IS GENERALLY MORE LIMITED IN ARBITRATION THAN IN
COURT PROCEEDINGS. THE ARBITRATOR(S) DO NOT HAVE TO EXPLAIN THE REASON(S) FOR
THEIR AWARD. THE ARBITRATION RULES MAY IMPOSE TIME LIMITS FOR BRINGING A CLAIM
IN ARBITRATION. IN SOME CASES, A CLAIM THAT IS INELIGIBLE FOR ARBITRATION COULD
HAVE OTHERWISE BEEN BROUGHT IN COURT.

     

    19.      Legal
Construction.

     

              The
legal construction and interpretation of this Agreement (including, but not
limited to, issues of gender, plural or singular, governing law and
severability) shall be governed by the provisions of Article 19 of the
Plan.

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

     

    [EXECUTION
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        10

        
          

        

      

      
         

      

    

     

              IN WITNESS WHEREOF, the
parties have executed this Agreement as of the date first above
written.

    
      
        
          
            	 
      	 
      	 
      
	 
      	
                    UNITED
      COMMUNITY BANKS, INC.

                  
	 
      	 
      	 
      
	 
      	
                    By:

                  	
	 
      	 
      	 
      
	 
      	
                    Name:  

                  	
                    Jimmy
      C. Tallent

                  
	 
      	 
      	 
      
	 
      	
                    Title:

                  	
                    President
      & Chief Executive
Officer

                  

          

        

      

    

     

              By
signing below, the Optionee hereby accepts the Option subject to all its terms
and provisions and agrees to be bound by the terms and provisions of this
Agreement and the Plan. The Optionee hereby agrees to accept as binding,
conclusive and final all decisions or interpretations of the Board of Directors
of the Company, or the Compensation Committee or other Committee responsible for
the administration of the Plan, upon any questions arising under the Plan. The
Optionee authorizes the Company to withhold, in accordance with applicable law,
from any compensation payable to him or her, any taxes required to be withheld
by federal, state, local or foreign law as a result of the grant, existence or
exercise of the Option, or subsequent sale of the Shares.

    
      
        
          	 
      	 
      	 
      
	 
      	
                  OPTIONEE

                
	 
      	 
      	 
      
	 
      	
                  By:

                	 
      
	 
      	 
      	 
      
	 
      	
                  Name:  

                	 
      

        

      

    

     

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