Document:

EX-10.1 AMENDMENT TO STOCK OPTION PLAN

 

EXHIBIT
10.1

AMENDMENT TO THE BANCORPSOUTH, INC.

1995 NON-QUALIFIED STOCK OPTION PLAN FOR

NON-EMPLOYEE DIRECTORS

     THIS AMENDMENT to the BancorpSouth, Inc. 1995 Non-Qualified Stock Option Plan for Non-Employee
Directors (the “Plan”) by BancorpSouth, Inc. (the “Company”) is made by the board of directors of
the Company on this 23rd day of January, 2008, to be effective upon the date of approval at a
meeting of the Company’s stockholders.

RECITALS:

     WHEREAS, the Company established the Plan, effective January 24, 1995, in order to encourage
equity ownership by members of the Company’s board of directors and to align the financial
interests of the board and the Company’s stockholders;

     WHEREAS, the Plan was amended and restated effective February 14, 1998 to conform the Plan to
changes to Rule 16b-3 promulgated by the Securities and Exchange Commission and to provide certain
administrative modifications and, effective with the approval of stockholders at the Company’s 2005
annual meeting, was amended to increase the number of shares of Company stock available for
purchase under the Plan; and

     WHEREAS, the Company desires to amend the Plan to provide for (i) awards of stock options,
restricted stock and restricted stock units to be made in the discretion of the Committee (the
administrator of the Plan), (ii) provide limited discretion to the Committee to determine the
number of shares of Company common stock subject to awards made under the Plan, (iii) limit the
number of shares of Company common stock that may be issued under awards each year, and (iv)
increase the number of shares of Stock that are available for purchase under the Plan by 400,000
shares to a total of 964,000;

     NOW, THEREFORE, the Plan is hereby amended as follows:

I. Section 1.2 is restated as follows:

     1.2 Agreement. A written agreement (including any amendment or supplement thereto)
between the Company or Affiliate and a Participant specifying the terms and conditions of an Award
grant to such Participant.

II. Section 1.3 is restated as follows:

     1.3 Award. A right that is granted under the Plan to a participant by the Company,
which may be in the form of an Option, Restricted Stock, or Restricted Stock Units.

III. Section 1.15 is denominated as Section 1.16 and a new Section 1.15 is added as follows:

     1.15 Restricted Stock Unit. An Award described in Section 4.4 that entitles a
Participant to receive shares of Stock, cash or a combination of Stock and cash, as determined by
the Committee. A Restricted Stock Unit represents an unfunded promise by the Company and is not a
transfer of property within the meaning of section 83 of the Code until the time that the
conditions stated in the Award for transferring Stock have been satisfied.

IV. Section 3.2 is restated as follows:

     3.2 Authority to Grant Awards. The Committee shall have authority to grant Awards to
each individual serving the Company as a director who is also not an employee of the Company or an
Affiliate (i.e., a “Participant”). Awards shall be subject to such terms the Committee deems
appropriate and that are not inconsistent with the provisions of this Plan. Such terms may include
conditions on the exercise or payment of all or any part of an Award. The Committee shall specify
the type of Award that is granted and number of shares of Stock subject thereto. The “Grant Date”
of an Award is the date that the material terms of the Award are specified by the Committee and all

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specified conditions to the Award have occurred. The Committee may from time to time take action to
provide for the automatic grant of an Award to all Participants to be effective on a specified date
or dates (e.g., the beginning of each board term). The Committee may prospectively modify the terms
of any such automatic grant through a subsequent action.

V. The first paragraph of Section 4.1 is restated as follows:

     4.1 Options.

VI. Section 4.1(a) is restated as follows:

     (a) Number. The number of shares of Stock subject to each Option shall be determined
in the sole and absolute discretion of the Committee, provided that the number of shares of Stock
subject to Options granted during each annual board term to a Participant shall not exceed 10,000
shares.

VII. Section 4.1(c) is restated as follows:

     (c) Option Period. The period during which an Option may be exercised and the date of
its expiration shall be specified by the Committee, provided that no Option may be exercisable
within six months following the Grant Date. The period within which an Option may be exercised is,
hereinafter, the “Option Period.”

VIII. Section 4.2 is restated as follows:

     4.2 Restricted Stock.

          (a) Terms. The number of shares of Stock subject to each grant of Restricted Stock
shall be determined in the sole and absolute discretion of the Committee, provided that number of
shares of Stock that are subject to all such Awards granted to each Participant shall not exceed
5,000 shares of Stock per annual board term. The Committee may grant Restricted Stock to a
Participant as a part of any arrangement established by the Committee and specified in an
Agreement, and may include the obligation by the Participant to pay a purchase price specified by
the Committee. Each Award of Restricted Stock to a Participant shall also specify the risks of
forfeiture and/or restrictions on transfer. A Participant who receives a grant of Restricted Stock
shall be treated as a shareholder of the Company for all purposes, except that the rights of the
Participant may be limited under the terms of the Agreement. Unless otherwise specified in an
Agreement, Participants shall be entitled to receive dividends on and exercise voting rights with
respect to Restricted Stock.

          (b) Retirement, Death, Etc. Prior to the occurrence of a forfeiture described in an
Award, all shares of Restricted Stock shall become fully vested if the Participant dies while a
director of the Company or retires in accordance with the Company’s normal retirement policies.

IX. The following is added to the Plan as a new Section 4.4:

     4.4 Restricted Stock Units. The number of shares of Stock subject to each grant of
Restricted Stock Units shall be determined in the sole and absolute discretion of the Committee,
provided that number of shares of Stock that are subject to all such Awards granted to each
Participant shall not exceed 5,000 shares of Stock per annual board term. Each Restricted Stock
Unit Award shall specify the number of shares of Stock, the formula for determining the number of
shares of Stock, and/or the amount of cash that a Participant may receive upon the satisfaction of
conditions specified in the Award, which may include the obligation of the Participant to pay a
purchase price specified by the Committee. A Participant who receives Restricted Stock Units shall
not be treated as a shareholder of the Company until the conditions specified in the Award have
been satisfied. Unless otherwise specified in an Agreement, Participants shall not be entitled to
receive dividend equivalents on Restricted Stock Units.

X. Section 5.1 is restated as follows:

     5.1 Source of Shares. Upon satisfaction of conditions specified in an Award, the
Company shall deliver to Participants authorized but previously unissued Stock or Stock that is
held by the Company as treasury stock.

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XI. Section 5.2 is restated as follows:

     5.2 Maximum Number of Shares. The maximum number of shares of Stock that may be
issued pursuant to this Plan is increased from 564,000 to 964,000, subject to increases and
adjustments as provided in Article VIII.

XII. Section 6.1 is restated as follows:

     6.1 Minimum Restrictions on Stock Rights. For a period of at least six months after
the Grant Date, Options shall not be exercisable, restrictions on Restricted Stock shall not lapse,
and Stock under a Restricted Stock Unit shall not be transferable to the Participant.

XIII. Section 6.3 is restated as follows:

     6.3 Transferability. Generally, any Award granted under this Plan shall not be
transferable except by will or by the laws of descent and distribution, and shall be exercisable
during the lifetime of the Participant only by the Participant. However, an Award granted under
this Plan may be transferable to the extent provided in an Agreement. Provided, further, that no
right or interest of a Participant in any Award shall be subject to, any lien, obligation or
liability of such Participant.

XIV. Section 7.5 is restated as follows:

     7.5 Issuance and Delivery of Shares. Subject to the conditions of Article IX, shares
of Stock to be issued pursuant to an Award shall be delivered to Participants by the Company (or
its transfer agent) as soon as administratively feasible after (i) a Participant receives an Award
of Restricted Stock, (ii) a Participant exercises an Option, (iii) the Participant satisfies the
requirements specified in a Restricted Stock Unit Award; provided, however, that the Company may
condition the delivery of shares on the Participant’s execution of any applicable shareholder
agreement or agreement described in Section 9.2 that the Company requires at the time of exercise;
and provided further that the Company may delay the delivery of Stock until all restrictions
specified in an Award have lapsed.

     XV. The first paragraph of Section 8.2 is restated as follows:

     8.2 Effect of Certain Transactions. The provisions of this Section 8.2 shall apply
to the extent that an Agreement does not otherwise expressly address the matters contained herein.
If the Company experiences an event which results in a “Change in Control,” as defined in Section
8.2(a), then, whether or not the vesting requirements set forth in any Agreement have been
satisfied, (i) all shares of Restricted Stock and any Restricted Stock Units that are outstanding
at the time of the Change in Control shall become fully vested immediately prior to the Change in
Control event, and (ii) all Options that are outstanding at the time of the Change in Control shall
become fully vested and exercisable immediately prior to the Change in Control event.

     IN WITNESS WHEREOF, the undersigned officer of the Company has executed this Amendment on the
date first written above.

	 	 	 	 	 
	 	BANCORPSOUTH, INC.

 	 
	 	By:  	/s/ Aubrey B. Patterson
 	 
	 
	 	Its:	Chairman and Chief Executive Officer 	 
	 	 	 	 
	 

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Exhibit 4.1

CERTIFICATE OF

VICE CHAIRMAN AND CHIEF FINANICAL OFFICER

AND VICE PRESIDENT, TREASURER

AND ASSISTANT SECRETARY

PURSUANT TO SECTIONS 201, 301 AND 303

OF THE INDENTURE

Dated: April 28, 2008

          The undersigned, ALAN H. LUND and PAMELA S. HENDRY, do hereby certify that they are the duly
appointed and acting Vice Chairman and Chief Financial Officer and Vice President, Treasurer and
Assistant Secretary, respectively, of INTERNATIONAL LEASE FINANCE CORPORATION, a California
corporation (the “Company”). Each of the undersigned also hereby certifies, pursuant to Sections
201, 301 and 303 of the Indenture, dated as of August 1, 2006 (the “Indenture”), between the
Company and Deutsche Bank Trust Company Americas, as Trustee, that:

          A. There has been established pursuant to resolutions duly adopted by the Board of Directors
of the Company (a copy of such resolutions being attached hereto as Exhibit B) and by a Special
Committee of the Board of Directors (a copy of such resolutions being attached hereto as Exhibit C)
a series of Securities (as that term is defined in the Indenture) to be issued under the Indenture,
with the following terms:

1. The title of the Securities of the series is “ILFC Notes, Series II” (the
“Notes”).

2. The limit upon the aggregate principal amount of the Notes which may be
authenticated and delivered under the Indenture (except for Notes authenticated and
delivered upon registration of, transfer of, or in exchange for, or in lieu of other
Notes pursuant to Sections 304, 305, 306, 906 or 1107 of the Indenture) is
$1,000,000,000. The Company may, without the consent of the Holders of the Notes,
issue additional notes having the same ranking, interest rate, Stated Maturity,
CUSIP number and terms as to status, redemption or otherwise as Notes that have been
previously issued, in which event such notes and such previously issued Notes shall
constitute one issue for all purposes under the Indenture including without
limitation, amendments and waivers.

3. The date on which the principal of each of the Notes is payable shall be any
Business Day (as defined in the forms of Global Fixed Rate Note and Global Floating
Rate Note attached hereto as Exhibit A and incorporated herein by reference) nine
months or more from the date of issuance as determined from time to time by any one
of Steven F. Udvar-Hazy, John L. Plueger, Alan H. Lund, Pamela S. Hendry or Kurt
Schwarz (each a “Designated Person”).

4. The rate at which each of the Notes shall bear interest shall be established by
any one Designated Person, and may be either a fixed interest rate (which may be
zero) (hereinafter, a “Fixed Rate Note”) or may vary from time to time in

 

 

accordance with one of the interest rate formulas more fully described in Exhibit A
hereto (hereinafter, a “Floating Rate Note”) or otherwise as specified by a
Designated Person.

5. Unless otherwise specified by a Designated Person, the date from which interest
shall accrue for each Note shall be the respective date of issuance of each of the
Notes.

6. The interest payment dates on which interest on a Fixed Rate Note shall be
payable are as follows, unless otherwise specified by any Designated Person:

     a. For Fixed Rate Notes with interest payable monthly, the interest payment
dates shall be the fifteenth day of each calendar month, commencing in the first
succeeding calendar month following the month in which the Fixed Rate Note is
issued.

     b. For Fixed Rate Notes with interest payable quarterly, the interest payment
dates shall be the fifteenth day of every third month, commencing in the third
succeeding calendar month following the month in which the Fixed Rate Note is
issued.

     c. For Fixed Rate Notes with interest payable semi-annually, the interest
payment dates shall be the fifteenth day of every sixth month, commencing in the
sixth succeeding calendar month following the month in which the Fixed Rate Note is
issued.

     d. For Fixed Rate Notes with interest payable annually, the interest payment
dates shall be the fifteenth day of every twelfth month, commencing in the twelfth
succeeding calendar month following the month in which the Fixed Rate Note is
issued.

7. The interest payment dates on which interest on a Floating Rate Note shall be
payable are as follows, unless otherwise specified by any Designated Person:

     a. For Floating Rate Notes whose interest reset period is either daily, weekly
or monthly, the interest payment dates shall be the third Wednesday of each month or
the third Wednesday of March, June, September and December of each year, as
specified by any Designated Person.

     b. For Floating Rate Notes whose interest reset period is quarterly, the
interest payment dates shall be the third Wednesday of March, June, September and
December of each year.

     c. For Floating Rate Notes whose interest reset period is semi-annually, the
interest payment dates shall be the third Wednesday of the two months of each year
specified by any Designated Person.

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     d. For Floating Rate Notes whose interest reset period is annually, the
interest payment dates shall be the third Wednesday of the month specified by any
Designated Person.

8. The initial interest payment on each outstanding Note shall be made on the
first interest payment date falling at least 15 days after the date the Note is
issued unless otherwise specified by any Designated Person.

9. The regular record dates for the interest payable on any Fixed Rate Note or any
Floating Rate Note on any interest payment date shall be on the day 15 calendar days
prior to any such interest payment date unless otherwise specified by any Designated
Person.

10. Interest on the Fixed Rate Notes shall be computed on the basis of a 360-day
year of twelve (12) 30-day months. Interest on the Floating Rate Notes shall be
computed on the basis set forth in Exhibit A hereto.

11. The place or places where the principal (and premium, if any) and interest on
Notes shall be payable is at the office of the Trustee, 60 Wall Street, 27th Floor,
New York, NY 10005, provided that payment of interest, other than at Stated Maturity
(as defined in the Indenture) or upon redemption or repurchase, shall (i) in the
case of certificated Notes, be made by check mailed to the address of the person
entitled thereto at such address as shall appear in the Security Register (as
defined in the Indenture) and (ii) be made by wire transfer of immediately available
funds to the Depositary (as designated below), as holder of Global Securities (as
defined in the Indenture).

12. The date, if any, on which each Note may be redeemed at the option of the
Company shall be established by any Designated Person.

13. The terms under which any of the Notes shall be repaid as a result of the death
of the beneficial owner thereof shall be as set forth in the forms of the Global
Fixed Rate Note and Global Floating Rate Note attached hereto as Exhibit A and the
obligation of the Company, if any, to repay any of the Notes upon the death of the
beneficial owner of such Notes shall be established by any Designated Person.

14. The Notes shall be issued in fully registered form in denominations of $1,000 or
any amount in excess thereof which is an integral multiple of $1,000.

15. The principal amount of the Notes shall be payable upon declaration of
acceleration of the maturity thereof pursuant to Section 502 of the Indenture.

16. The Notes shall be issued as Global Securities under the Indenture, unless
otherwise specified by any Designated Person, and The Depository Trust Company is
hereby designated the Depositary under the Indenture for the Notes.

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17. The terms of the Notes include the provisions set forth in Exhibit A hereto.

18. If specified by a Designated Person, Notes may be issued as original issue
discount notes, as described in the Prospectus Supplement dated April 28, 2008 to
the Prospectus dated August 16, 2006 relating to the Notes, including any subsequent
amendments or supplements thereto.

          B. The forms of the Global Fixed Rate Notes and the Global Floating Rate Notes are attached
hereto as Exhibit A.

          C. The Trustee is appointed as Paying Agent (as defined in the Indenture) and Deutsche Bank
Trust Company Americas is appointed as Calculation Agent.

          D. The foregoing form and terms of the Notes have been established in conformity with the
provisions of the Indenture.

          E. Each of the undersigned has read the provisions of Sections 301 and 303 of the Indenture
and the definitions relating thereto and the resolutions adopted by the Board of Directors of the
Company and delivered herewith. In the opinion of each of the undersigned, he or she has made such
examination or investigation as is necessary to enable him or her to express an informed opinion as
to whether or not all conditions precedent provided in the Indenture relating to the establishment,
authentication and delivery of a series of Securities under the Indenture, designated as the Notes
in this Certificate, have been complied with. In the opinion of each of the undersigned, all such
conditions precedent have been complied with.

          F. The undersigned Assistant Secretary, by execution of this Certificate, thereby certifies
the actions taken by the Special Committee of the Board of Directors of the Company in determining
and setting the specific terms of the Notes, and hereby further certifies that attached hereto as
Exhibits A, B, and C respectively, are the forms of certificates representing the Global Fixed Rate
Notes and Global Floating Rate Notes as duly approved by the Special Committee of the Board of
Directors of the Company, a copy of resolutions duly adopted by the Board of Directors of the
Company as of April 24, 2008 and a copy of resolutions duly adopted by the Special Committee of
the Board of Directors as of April 28, 2008, pursuant to which the terms of the Notes set forth
above have been established.

[remainder of page intentionally left blank]

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          IN WITNESS WHEREOF, the undersigned have hereunto executed this Certificate as of the date
first above written.

/s/
Alan H. Lund

                                                            

Alan H. Lund

Vice Chairman and

Chief Financial Officer

/s/
Pamela S. Hendry

                                                            

Pamela S. Hendry

Vice President, Treasurer and

Assistant Secretary

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