Document:

Exhibit 10.9.7
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CHASE CORPORATION
AMENDED AND RESTATED 2013 INCENTIVE PLAN
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Notice of Stock Option Grant
Chase Corporation (the “Company”) hereby grants to you (the “Optionee”) the following option (the “Option”) to purchase Common Stock of the Company:
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	Name of Optionee:
	
	Total Number of Shares Subject to this Option:
	
	Type of Option:
	
	Exercise Price per Share:
	
	Grant Date:
	___________ __, 20__

	Vesting Schedule:
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	Vesting Commencement Date:
	___________ __, 20__

	Number of Vested Shares on Grant Date:
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	Vesting Period:
	__ years (annual vesting)

	Number of Shares Vesting at end of each Vesting Period:
	_____ on _______ __, 20__
_____ on _______ __, 20__
_____ on _______ __, 20__

	Expiration Date:
	__________ __, 20__

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By your signature and the signature of the Company’s representative below, you and the Company agree that this Option is granted under and governed by the terms of the Chase Corporation Amended and Restated 2013 Incentive Plan (the “Plan”) and this Stock Option Agreement (this “Agreement”), which includes the incorporated terms and conditions attached to and made a part of this Agreement.  This Agreement is an Award Agreement issued under the Plan.
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	OPTIONEE
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	CHASE CORPORATION

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	By:
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	Print Name:
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	Print Name:

	Address:
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	Title:

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CHASE CORPORATION
Amended and Restated 2013 Incentive Plan
Stock Option Agreement
(Employee)
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Incorporated Terms and Conditions
1.Grant of Option. On the terms and conditions set forth in this Agreement, the Company grants to the Optionee on the Grant Date this Option to purchase at the exercise price per share set forth on the Notice of Grant of this Agreement the number of shares of the Company’s Common Stock set forth on said Notice of Grant.  This Option is granted pursuant to and is governed by Plan, the terms of which are incorporated into this Agreement by this reference.  To the extent there is any inconsistency between the terms of the Plan and this Agreement, the terms of the Plan shall control.  Unless the context otherwise requires, capitalized terms used herein without definitions shall have the respective meanings assigned to them in the Plan.  By signing this Agreement, the Optionee acknowledges receipt of a copy of the Plan.
2.Type of Option.  This Option is intended to qualify either as an ISO or an NQSO, as set forth on the Notice of Grant.  If this Option is intended to qualify as an ISO, it is agreed that the Exercise Price is at least 100% of the Fair Market Value per Share on the Grant Date (110% of Fair Market Value if the Optionee owns (within the meaning of ‎Section 424(d) of the Code) more than ten percent (10%) of the total combined voting power of all ‎classes of stock of the Company or any subsidiary.)  ‎
3.Exercisability Schedule.  The Optionee may exercise this Option for such number of Shares as have become exercisable pursuant to the vesting schedule set forth on the Notice of Grant.
4.Exercise of Option. Prior to the Expiration Date (or such earlier date as set forth in Section 5 below), the Optionee may exercise this Option by delivering a Notice of Stock Option Exercise in the form attached hereto as Exhibit A (the “Notice”), signed by the Participant, and received by the Company at its principal office, accompanied by this Agreement and payment in full in the manner provided in the Plan.  The Participant may purchase less than the number of shares covered hereby, provided that no partial exercise of this option may be for any fractional share or for fewer than ten (10) whole shares.  The Optionee (or any other person entitled to exercise this Option) shall not be entitled to any rights as a shareholder of the Company with respect to any Shares issuable upon exercise of this Option until such Shares shall have been registered on the stock transfer books of the Company in the name of the Optionee (or such other person).
5.Limitation on Exercise.  The grant of this Option and the issuance of Shares upon exercise of this Option are subject to compliance with all Applicable Laws. This Option may not be exercised if the issuance of Shares upon exercise would constitute a violation of any Applicable Laws. In addition, this Option may not be exercised unless (i) a registration statement under the Securities Act of 1933, as amended (the "Securities Act") is in effect at the time of exercise of this Option with respect to the Shares; or (ii) in the opinion of legal counsel to the Company, the Shares
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issuable upon exercise of this Option may be issued in accordance with the terms of an applicable exemption from the registration requirements of the Securities Act.  As a further condition to the exercise of this Option, the Company may require the Optionee to satisfy any qualifications that may be necessary or appropriate, to evidence compliance with any applicable law or regulation and to make any representation or warranty with respect thereto as may be requested by the Company. Any Shares that are issued will be “restricted securities” as that term is defined in Rule 144 under the Securities Act, and will bear an appropriate restrictive legend, unless they are registered under the Securities Act. The Company is under no obligation to register the Shares issuable upon exercise of this Option.
6.Exercise of Option After Termination of Employment.
Except as otherwise determined by the Board, or as may otherwise be expressly provided in any employment agreement between the Company and the Optionee, upon the termination of the service of the Optionee to the Company (or to an affiliate), this Option shall expire on the earliest of the following occasions:
(a)the date that is three months after the termination of the Optionee’s service or the termination of the Optionee’s service by the Company (or by an affiliate) for any reason other than the Optionee’s Disability or death;
(b)the date six months after the termination of the Optionee’s service by reason of Disability or death;
(c)the specified expiration date of the Option, as set forth on the Notice of Grant.
The Optionee may exercise all or any part of this Option at any time ‎before the expiration of this Option under this Section 6, but only to the extent that this Option had ‎become exercisable before the Optionee’s employment or service is terminated and the underlying ‎Shares had vested before the Optionee’s employment or service is terminated.  ‎Any portion of this Option that is not exercisable on the date of termination of the Optionee’s service with the Company, for any reason, shall terminate immediately and be null and void and of no further force and effect.
In the event that the Optionee dies during the Optionee’s employment or service, or after the ‎termination of the Optionee’s employment or service but before the expiration of this Option, all or part ‎of this Option may be exercised (prior to expiration) by the executors or administrators of the Optionee’s ‎estate or by any person who has acquired such Option directly from the Optionee by beneficiary ‎designation, bequest or inheritance, but only to the extent that this Option had become exercisable before ‎the Optionee’s employment or service is terminated and the underlying Shares had vested before the ‎Optionee’s employment or service is terminated.‎
7.Notice of Premature Disposition.  If this Option is intended to qualify as an ISO, as provided on the Notice of Grant, then if, within (2) two years from the Grant Date or within one (1) year after the issuance of Shares to the Optionee upon exercise of this Option, the Optionee makes a disposition (as defined in Section 424(c) of the Code) of any Shares, the Optionee shall notify the Treasurer of the Company within ten (10) days after such disposition.
8.Restrictions on Transfer.  The Optionee shall not sell, assign, transfer, pledge, hypothecate or otherwise dispose of this Option, by operation of law or otherwise except by will
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or the laws of descent and distribution, and during the lifetime of the Participant, this Option shall be exercisable only by the Participant.
9.Withholding.  No Shares shall be issued pursuant to the exercise of this Option unless and until the Participant pays to the Company or makes provision satisfactory to the Company for payment of any federal, state or local withholding taxes required by law to be withheld in respect of this Option.
10.Amendment. The Board may at any time or times amend the Plan or this Agreement for the purpose of satisfying the requirements of any changes in applicable laws or regulations or for any other purpose which at the time may be permitted by law.  No termination, amendment of the Plan or amendment of this Agreement shall, without the Optionee’s consent, materially adversely affect the Optionee’s rights under this Agreement.
11.Notices.  All notices, requests, consents and other communications shall be in writing and be deemed given when delivered personally, by telex or facsimile transmission or when received if mailed by first class registered or certified mail, postage prepaid or upon ‎deposit with a recognized express overnight courier service, addressed, if to the Company, to its ‎principal executive office at the time, Attention: Treasurer, and if to the Optionee, to the address shown ‎beneath his or her signature on the Notice of Grant, or at such other address or ‎addresses as either party shall designate to the other in accordance with this Section 11.‎
12.Governing Law.  This Agreement shall be governed by and construed in accordance with the laws of the Commonwealth of Massachusetts without regard to conflict of law principles.
13.Counterparts.  For the convenience of the parties and to facilitate execution, this Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same document.
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Exhibit A
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NOTICE OF STOCK OPTION EXERCISE
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[DATE]
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[   ]
[INSERT ADDRESS]
Attention:  Treasurer
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Dear Sir or Madam
Pursuant to the terms of the stock option agreement between myself and Chase Corporation (the “Company”) dated                  (the “Agreement”), under the Company’s Amended and Restated 2013 Incentive Plan, I, [Insert Name]                                    , hereby [Circle One] partially/fully exercise such Option by including herein payment in the amount of $__________ representing the purchase price for [Fill in number of Underlying Shares]                 Shares.  I have chosen the following form(s) of payment:
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	Cash

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	Certified or bank check payable to [   ]

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	3.
	Other (as described in the Plan (please describe))

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	                                                                                       .

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By this exercise, I agree (i) to provide such additional documents as you may require pursuant to the terms of the Plan, (ii) to provide for the payment by me to you (in the manner designated by you) of your withholding obligation, if any, relating to the exercise of this option, and (iii) if this exercise relates to an incentive stock option, to notify you in writing within ten (10) days after the date of any disposition of any of the Shares issued upon exercise of this option that occurs within two (2) years after the date of grant of this option or within one (1) year after such Shares are issued upon exercise of this option.
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	Sincerely yours,

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	Name

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	Address:

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​Exhibit 10.9.8
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CHASE CORPORATION
AMENDED AND RESTATED 2013 EQUITY INCENTIVE PLAN
RESTRICTED STOCK AGREEMENT
(NON EMPLOYEE DIRECTOR)
This Restricted Stock Agreement (the “Agreement”), made as of ____ __, ____ (“Date of Grant”) by and between Chase Corporation (the “Company”) and _________(the “Restricted Stockholder”).
1.Grant of Award.  Pursuant to the terms of the Chase Corporation Amended and Restated 2013 Equity Incentive Plan (the “Plan”), the Company hereby grants to the Restricted Stockholder, as of the Date of Grant, an award of ____ shares of the Company’s common stock, par value $.10 per share, subject to the terms and conditions of this Agreement and the Plan.  As more fully described below, the shares granted hereby are subject to forfeiture by the Restricted Stockholder if certain criteria are not satisfied.
2.Restrictions on Stock.  Until the termination of restrictions as provided in Section 3 hereof, the Restricted Stock may not be sold, assigned, transferred, pledged or otherwise encumbered except as provided in this Agreement.  No rights or interests of the Restricted Stockholder under this Agreement or under the Plan may be assigned, encumbered or transferred other than (i) to the extent permitted and in accordance with such procedures adopted by the Administrator from time to time and (ii) by will or the laws of descent and distribution.  The naming of a designated beneficiary will not constitute a transfer.
3.Termination of Restrictions.
(a)Vesting.  The Restricted Stock Award shall vest and become nonforfeitable and all restrictions set forth in Sections 2 and 3 hereof shall lapse, on ______ __, ____ (the “Vest Date”), provided the Restricted Stockholder’s service as a director of the Company has not terminated or ceased on or prior to the Vest Date.
(b)Termination of Service.  If the Restricted Stockholder’s service as a director of the Company is terminated prior to the Vest Date by reason of the Restricted Stockholder’s retirement, death or disability (as determined by the Administrator) or the Company terminating his or her service without cause, the Restricted Stock Award shall vest, pro-rated on the date service is terminated, and the restrictions on the pro-rated vested shares shall lapse on the date of termination of service.  If the Restricted Stockholder’s service as a director of the Company is terminated by the Restricted Stockholder for any reason or by the Company for cause prior to the Vest Date, the Restricted Stock Award will immediately and irrevocably be forfeited and neither the Restricted Stockholder nor any successors, heirs, assigns, or legal representatives of the Restricted Stockholder shall thereafter have any further rights or interest in such forfeited Restricted Stock or the certificates thereof.
(c)Acceleration of Vesting upon Change in Control.  Unless otherwise provided for in the vote granting such restricted stock, upon the consummation of a transaction resulting in a Change in Control of the Company prior to the Vest Date, all restrictions remaining on any Restricted Stock shall lapse.
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4.Rights as Stockholder.  Upon the issuance of a certificate or certificates representing the Restricted Stock, the Restricted Stockholder shall thereupon be a stockholder and, subject to the provisions of Sections 2 and 3 hereof, have all the rights of a stockholder with respect to such Restricted Stock, including the right to vote and receive all dividends or other distributions made or paid with respect to such Restricted Stock; provided, however, that such Restricted Stock and any new, additional or different securities the Restricted Stockholder may become entitled to receive with respect to such Restricted Stock by virtue of a stock split, dividend or other change in the corporate or capital structure of the Company shall be subject to the vesting and forfeiture provisions, restrictions on transfer and other restrictions set forth in this Agreement and the Plan.
5.Stock Certificates; Legend.Certificates for Restricted Stock shall be issued in the Restricted Stockholder’s name and shall be held by the Company until the Restricted Stock shall become vested and all restrictions thereon have lapsed.  The Company shall serve as attorney-in-fact for the Restricted Stockholder during the period during which the shares of Restricted Stock are unvested with full power and authority in the Restricted Stockholder’s name to assign and convey to the Company any Restricted Stock held by the Company for the Restricted Stockholder if the Restricted Stockholder forfeits the shares under the terms of this Agreement and the Plan.  The Restricted Stockholder agrees that the certificates representing the Restricted Stock may bear such legend or legends as the Administrator deems appropriate in order to reflect the forfeiture restrictions and to assure compliance with applicable federal and state securities law.
Upon the vesting of the Restricted Stock, the Company shall so notify the Secretary of the Company and the Secretary shall obtain from the Company certificates representing all such shares that have vested, which certificates shall not bear any restrictive endorsement making reference to this Agreement, and shall deliver such certificates to the Restricted Stockholder.
In lieu of certificates, in the discretion of the Administrator, the Company may create book-entry positions through its transfer agent in the name of the Restricted Stockholder with appropriate notations in lieu of the legends described above.
6.No Right to Continued Service.  This Agreement shall not confer upon the Restricted Stockholder any right with respect to continuance of   service with, the Company, nor shall it interfere in any way with the right of the Company to terminate the Restricted Stockholder’s service at any time and for any reason.
7.Adjustment to Common Stock.  In the event of any stock split, stock dividend, recapitalization, reorganization, merger, consolidation, combination, exchange of shares, liquidation, spin-off or other similar change in capitalization or event, or any distribution to holders of Common Stock other than a normal cash dividend, the Committee shall make approximate and equitable adjustments in the Restricted Stock corresponding to adjustments made by the Committee in the number and kind of shares which may be issued under the Plan.  Any new, additional or different securities to which the Restricted Stockholder shall be entitled in respect of Restricted Stock by reason of such adjustment shall be deemed to be Restricted Stock and shall be subject to the same terms, conditions and restrictions as the Restricted Stock so adjusted.
8.Withholding Taxes.  The Restricted Stockholder acknowledges that the Company is not responsible for the tax consequences to the Restricted Stockholder of the granting or vesting of the Restricted Stock, and that it is the responsibility of the Restricted Stockholder to consult with the Restricted Stockholder’s personal tax advisor regarding all matters with respect to the tax consequences of the granting and vesting of the Restricted Stock.  The Company shall have the
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right to deduct from the Restricted Stock or any payment to be made with respect to the Restricted Stock any amount that federal, state, local or foreign tax law required to be withheld with respect to the Restricted Stock or any such payment.  Alternatively, the Company may require that the Restricted Stockholder, prior to or simultaneously with the Company incurring any obligation to withhold any such amount, pay such amount to the Company in cash or in shares of the Company’s Common Stock (including shares of Common Stock retained from the Restricted Share Award creating the tax obligation), which shall be valued at the Fair Market Value of such shares on the date of such payment.  In any case where it is determined that taxes are required to be withheld in connection with the issuance, transfer or delivery of the shares, the Company may reduce the number of shares so issued, transferred or delivered by such number of shares as the Company may deem appropriate to comply with such withholding.  The Company may also impose such conditions on the payment of any withholding obligations as may be required to satisfy applicable regulatory requirements under the Exchange Act.
9.Governing Law.  This Agreement shall be construed and administered in accordance with and governed by the laws of the Commonwealth of Massachusetts, without giving effect to any conflict or choice of laws provisions thereof that would cause the application of the domestic substantive laws of any other jurisdiction.
10.Notice of Election Under Section 83(b). If the Restricted Stockholder makes an election under Section 83(b) of the Internal Revenue Code of 1986, as amended, and the regulations and rulings promulgated thereunder, he will provide a copy thereof to the Company within thirty days of the filing of such election with the Internal Revenue Service.
11.Notices.  Any notice hereunder to the Company shall be addressed to the Company at its principal business office, 375 University Ave., Westwood, MA  02090. Attention Chief Financial Officer, and any notice hereunder to the Restricted Stockholder shall be sent to the address reflected on the records of the Company, subject to the right of either party to designate at any time hereafter in writing some other address.
12.Amendment of Agreement.  The Company may amend, modify or terminate this Agreement, provided that the Restricted Stockholder’s consent to such action shall be required unless the Company determines that the action, taking into account any related action, would not materially and adversely affect the Restricted Stockholder.
13.Successors and Assigns; No Third Party Beneficiaries.  Except as otherwise expressly provided herein, the provisions hereof shall inure to the benefit of, and be binding upon, the successors, assigns, heirs, executors and administrators of the parties hereto.  There are no third party beneficiaries of this Agreement.
14.Entire Agreement.  This Agreement and the Plan constitute the full and entire understanding and agreement of the parties with regard to the Restricted Stock and supersede in their entirety all other prior agreements, whether oral or written, with respect thereto.
15.Severability.  In case any provision of this Agreement shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions of this Agreement shall not in any way be affected or impaired thereby, and each provision of this Agreement shall be enforced to the fullest extent permitted by law.
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16.Waivers.  Any waiver by the Company of a breach of any provision of this Agreement shall not operate or be construed as a waiver of any subsequent breach of such provision or any other provision hereof.
17.Defined Terms.  Capitalized terms used but not defined in this Agreement will have the meanings specified in the Plan.
IN WITNESS WHEREOF, the parties have executed this Agreement as a sealed instrument as of the __  day of ____ _____.
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	RESTRICTED STOCKHOLDER
	    
	CHASE CORPORATION

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	By:
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	By:
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	Signature
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	Signature

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	Name:
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	Name:
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	Address:
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	Title:
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