Document:

Stock Option Agreement

 Exhibit 10.2 
 THE PEOPLES BANCTRUST COMPANY, INC. 
 1999 STOCK OPTION PLAN 
 Agreement for Incentive Stock Options 
 THIS
STOCK OPTION (the “Option”) grants DON J. GIARDINA (the “Optionee”) the right to purchase a total of 50,000 shares of Common Stock, par value $.10 per share, of The Peoples BancTrust Company, Inc. (the “Company”), at
the price set forth herein, subject to the terms, definitions and provisions of The Peoples BancTrust Company, Inc. 1999 Stock Option Plan (the “Plan”) which is incorporated by reference herein, except as set forth herein. This Option is
intended to qualify as an incentive stock option (“ISO”) under Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”). Pursuant to Section 6(b) of the Plan, to the extent that the aggregate Market
Value of shares with respect to which Options designated as ISOs first become exercisable by the Optionee in any calendar year (under the Plan and any other plan of the Company or any Affiliate) exceeds $100,000, such excess Options shall be treated
as Non-ISOs. The Optionee acknowledges, through signing below, the receipt of the prospectus associated with the Plan. 
 1. Option
Price. The Option price per share is $19.135, which equals 100% of the fair market value, as determined by the Committee, of the Common Stock on the date of grant of this Option. 
 2. Vesting and Exercise of Option. This Option shall be exercisable in accordance with the Plan as follows: 
 Schedule of rights to exercise: 
  

				
	 Years of Continuous
 Employment
After
 Date of Grant of Option
	  	 Percentage of Total Shares
 Subject to Option
 Which May Be
Exercised
	 
	Upon Grant	  	0	%
	1 year but less than 2 years	  	33 1/3	%
	2 years but less than 3 years	  	33 1/3	%
	3 years or more	  	33 1/3	%

 To the extent this Option has not otherwise become vested in accordance with this Agreement, this
Option will become fully vested and exercisable by the Optionee or his estate (1) upon the death of the Optionee (other than by suicide), (2) upon a determination by the Committee that the Optionee has become disabled, (3) upon a
termination by the Company of the Optionee without Just Cause (which for the purposes of this Option the term “Just Cause” shall have the same meaning as the term “Cause” under paragraph 19(d) of the Employment Agreement between
the Company and the Optionee dated the 11th day of August, 2006 (the “Employment Agreement”), or, if the Employment Agreement has expired, then as defined in Section 8(c)(1) of the Plan), (4) upon a Change in Control (as defined
in the Employment Agreement or, if the Employment Agreement has expired, then as defined in Section 2(e) of the Plan) or (5) upon any other vesting event provided for in the Employment Agreement. 

 3. Method of Exercise. This Option shall be exercisable by a written notice by the Optionee which
shall: 
 (a) state the election to exercise the Option, the number of shares with respect to which it is being exercised, the person in whose
name the stock certificate or certificates for such shares of Common Stock is to be registered, his address and Social Security Number (or if more than one, the names, addresses and Social Security Numbers of such persons); 
 (b) contain such representations and agreements as to the holder’s investment intent with respect to such shares of Common Stock as may be
satisfactory to the Company’s counsel; 
 (c) be signed by the person or persons entitled to exercise the Option and, if
the Option is being exercised by any person or persons other than the Optionee, be accompanied by proof, satisfactory to counsel for the Company, of the right of such person or persons to exercise the Option; and 
 (d) be in writing and delivered in person or by certified mail to the Treasurer of the Company. 
 Payment of the purchase price of any shares with respect to which the Option is being exercised shall be by cash, Common Stock, or such
combination of cash and Common Stock as the Optionee elects. In addition, the Optionee may elect to pay for all or part of the exercise price of the shares by having the Company withhold a number of shares that are both subject to this Option and
have a fair market value equal to the exercise price. The certificate or certificates for shares of Common Stock as to which the Option shall be exercised shall be registered in the name of the person or persons exercising the Option. 
 4. Restrictions on Exercise. This Option may not be exercised if the issuance of the shares upon such exercise would constitute a violation of any
applicable federal or state securities or other law or valid regulation. As a condition to the Optionee’s exercise of this Option, the Company may require the person exercising this Option to make any representation and warranty to the Company
as may be required by any applicable law or regulation. 
 5. Withholding. The Optionee hereby agrees that the exercise of the Option
or any installment thereof will not be effective, and no shares will become transferable to the Optionee, until the Optionee makes appropriate arrangements with the Company for such tax withholding as may be required of the Company under federal,
state, or local law on account of such exercise. 
 6. Non-transferability of Option. This Option may not be transferred in any manner
otherwise than by will or the laws of descent or distribution. The terms of this Option shall be binding upon the executors, administrators, heirs, successors and assigns of the Optionee. 
  

 - 2 - 

 7. Term of Option. This Option may not be exercisable for more than ten years from the date of
grant of this Option, as stated below, and may be exercised during such term only in accordance with the Plan and the terms of this Option. 
  

					
	September 1, 2006	 	THE PEOPLES BANCTRUST COMPANY, INC.
	Date of Grant	 	1999 STOCK OPTION PLAN COMMITTEE
			
		 	By	 	 /s/ David Y. Pearce

		 		 	An Authorized Member of the Committee

  

 - 3 -Employment Offer Letter

 

 
  

 Exhibit 10.1 
 September 1, 2006 
 J. Edward Coleman 
 1829
Hidden Point Road 
 Annapolis, MD 21409 
 We need people who
believe in the power of technology, who believe in always looking for a better way, and who believe that customer relationships are sacred. We need people who are prepared to ask questions, listen to the answers and deliver results. We need people
who have energy as well as talent, values as well as skills, caring as well as experience. Not everybody meets those standards. We think you do. 
 With that
in mind, we are pleased to extend to you the following offer of employment: 
  

	 	•	 	Position: Chief Executive Officer reporting to Gateway’s Board of Directors with an employment start of September 18, 2006. 

  

	 	•	 	Director Nomination: You will be nominated to a seat on Gateway’s Board of Directors concurrent with your employment start date. Consistent with Gateway’s Corporate
Governance Guidelines, you will not receive any additional compensation for service on the Board. 

  

	 	•	 	Base Salary: Base salary in the annualized amount of $650,000 per year, payable in accordance with Gateway’s practices (currently bi-weekly). 

 

	 	•	 	Sign-on Bonus: You will be awarded a sign-on bonus totaling $370,000, consisting of $217,000 in cash and restricted stock units with a value of $153,000. The cash portion of
the sign-on bonus will be paid on the first pay date after your first day of employment. The cash portion of your sign-on bonus will be repaid by you to Gateway if your employment is terminated on circumstances under which you would not be entitled
to severance, described below, at any time prior to eighteen (18) months after your first date of employment. The restricted stock units will be issued under Gateway’s 2000 Equity Incentive Plan. The number of shares will be based on the
market price of Gateway stock on the date you begin employment. The shares will vest annually in equal portions over the course of 3 years. 

  

	 	•	 	Bonus: You will be eligible to participate in the Gateway Bonus Plan. Your bonus target is 100% of your annual base salary. The bonus plan will have predetermined goals
and actual awards will be calculated based on the achievement of those performance goals. The bonus payment you may receive if any, for the balance of 2006 will be prorated based on the date you begin employment and will be paid annually in
accordance with the terms of the program. 

  

	 	•	 	Stock Option Plan: You will be granted non-qualified stock options under Gateway’s 2000 Equity Incentive Plan having a value equal to $1,950,000. The number of shares
will be determined by using Gateway’s standard valuation formula based on the market price of Gateway stock on the date you begin employment. The options shall vest at a rate of 25% per year over the course of 4 years.

  

 

 

 

 
  

	 	•	 	Vacation/Holiday/Sick: You will be eligible for vacation, holiday and sick pay in accordance with Gateway’s standard policies. 

  

	 	•	 	Health and Medical Benefits: You are eligible on your date of hire to participate in the following Gateway group plans, in accordance with the terms of each respective plan:
health, dental, vision, life insurance and Section 125 Flexible Spending Accounts (medical and dependent care spending accounts). You must enroll online within 31 days of your hire date. For additional information about health and medical
benefits, you may contact Gateway’s Benefits Helpline at 888-225-7151. 

  

	 	•	 	401(k) Investment Plan: You will be immediately eligible to enroll in the Retirement Savings Plan. Gateway matches 50% of the first 6% of salary deferral upon enrollment with
vesting in Gateway match of 50% after one year of service and 100% after two years of service. You will be automatically enrolled at a contribution rate of 3% of your pretax eligible earnings (base salary only). Your contributions will be
invested in the Managed Income Portfolio. If you do not wish to contribute to the Plan, you must change your contribution rate to 0% within the first 30 calendar days of your eligibility. You may also increase or decrease your contribution
rate at any time. 

  

	 	•	 	Relocation: You will be eligible for relocation benefits under Gateway’s relocation plan for executives. You must initiate relocation within one year of your start date
in order to be eligible to receive relocation benefits. Details about Gateway’s relocation plan for executives will be provided to you. 

  

	 	•	 	At-Will Employment: Your employment is for an unspecified term and is to continue only at the mutual will of both you and Gateway. This means that either you or Gateway may
terminate the employment relationship at any time, for any reason, with or without cause or prior notice. This at-will aspect of your employment may not be changed or rescinded except by an individual written agreement to the contrary signed by you
and the Chairman of Gateway’s Board of Directors. 

  

	 	•	 	Termination of Employment and Severance 

  

	 	•	 	Termination by you for Good Reason or by Gateway other than for Death, Disability or for Cause. If you terminate your employment for Good Reason, or if Gateway terminates
your employment for any reason other than your death, Disability or for Cause, you shall be entitled to severance compensation equal to (a) twenty four (24) months of your base salary and target bonus, and (b) the amount you would be
required to pay under COBRA to maintain your health and medical benefits, at the time of termination (less required withholdings). As a condition to your receipt of severance compensation, you must sign a severance agreement and general release of
all claims that is acceptable (in form and substance) to Gateway; provided that the severance agreement and general release will not impose upon you material post-termination obligations other than those set forth in this letter or the Non-Compete,
Non-Disclosure and Intellectual Property Agreement and any other obligations customarily imposed upon employees of similar position in such situations. 

  

	 	•	 	 “Cause” shall mean: (a) engaging in any material acts of fraud, theft, embezzlement; (b) engaging in acts or omissions that would constitute
violations of any law, ordinance, rule, regulation, or decree that cause harm or injury to 

  

 

 

 

 
  

	 	 
Gateway or that constitute violations of Gateway’s Code of Ethics; (c) willful misconduct (d) neglect or refusal to perform material duties
for a period of ten (10) days after receipt of notice of such conduct; (e) conviction for any felony, including any plea of guilty or nolo contendere or placement in a pretrial diversion program; and/or (f) material breach of any of
the terms of employment or any other agreement that you now have or later have with Gateway or its affiliates. 

  

	 	•	 	“Good Reason” shall mean your giving notice of voluntary resignation after the occurrence of any of the following, without your consent: (a) a material reduction of
your duties, position or responsibilities as CEO; (b) Gateway’s material breach of the terms of your employment or any other agreement that you now have or later have with Gateway or its affiliates; (c) a material reduction in your
Base Salary or target bonus that is not made as part of a compensation change affecting senior management generally; and/or (d) the Company requires you to be based (excluding regular travel responsibility) at any office or location more than
50 miles from Irvine, CA. 

  

	 	•	 	“Disability” shall mean you are unable to perform the essential functions of your job duties for physical or mental reasons, with or without reasonable accommodation, for
a period of ninety (90) calendar days or more during any twelve-month period and you are entitled to disability benefits under the Company’s then-existing long-term disability plan. Provisions concerning Disability are subject to federal
or state disability or leave laws and may be modified by a court of competent jurisdiction in the event of non-conformity with such laws to permit compliance. 

  

	 	•	 	Termination by you other than for Good Reason or by Gateway for Cause or in the event of Death or Disability. If Gateway terminates your employment for Cause, or you
terminate your employment with Gateway other than for Good Reason, you shall not be entitled to any severance compensation. In the event of your death or Disability, your employment shall be deemed terminated and neither you nor your estate shall
not be entitled to severance compensation. 

 This employment offer is contingent upon your execution of (i) Gateway’s Non-Compete,
Non-Disclosure, and Intellectual Property agreement; (ii) an I-9 form which establishes identity and employment eligibility; (iii) the Consent Concerning Consumer and Investigative Consumer Reports, as well as other documents that will be
provided to you. 
  

 

 

 

 
  

 We believe this is a great opportunity for both you and Gateway and look forward to working with you. Please confirm
as indicated below that you wish to join our team and return this signed letter to Michael R. Tyler, General Counsel. This letter supersedes the letter dated August 15, 2006, and incorporates the Non-Compete, Non-Disclosure and Intellectual
Property Agreement you signed in connection with the August 15 letter. 
  

	
	 Sincerely,

	
	 /s/ Joseph G. Parham, Jr.

	 Joseph G. Parham, Jr.

	 Chairman of the CEO Search Committee of the
 Board of Directors of Gateway, Inc.

 ACCEPTED PURSUANT TO THE TERMS SET FORTH ABOVE: 
  

					
			
	/s/ J. Edward Coleman	 		 	September 1, 2006
	J. Edward Coleman	 		 	Date

 cc: Richard D. Snyder, Chairman of the Board

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