Document:

IEC
ELECTRONICS CORP.

    

    FORM
OF OPTION AWARD AGREEMENT

    PURSUANT
TO

    2001
STOCK OPTION AND INCENTIVE PLAN

    

    (Outside
Director Option)

    

    OPTION AWARD AGREEMENT, executed in
duplicate as of the ______________ [Date of Annual Meeting of Stockholders],
between IEC Electronics Corp., a Delaware corporation (the "Company"), and
_______________ [Name of Director], an outside director of the Company (the
"Optionee").

     

    RECITALS:

     

    A.          In
accordance with the provisions of the 2001 Stock Option and Incentive Plan of
the Company (the "Plan") and pursuant to a resolution duly adopted by the Board
of Directors of the Company on ________________, the Company is authorized to
execute and deliver this Agreement on the terms and conditions herein set
forth.

     

    B.           All
capitalized terms in this Agreement shall have the meaning assigned to them in
the Plan.

     

    NOW, THEREFORE, in consideration of the
mutual covenants hereinafter set forth and for other good and valuable
consideration, the parties hereto agree as follows:

     

    1.           Grant of
Option.  Subject to all the terms and conditions of the Plan
and this Agreement, the Company hereby grants to the Optionee as of
_______________ [Date of Annual Meeting of Stockholders] (the "Date of Grant")
an Outside Director Option (the "Option") to purchase up to 7,000 shares of
common stock of the Company (such number being subject to adjustment as provided
in Section 10), $.01 par value, on the terms and conditions herein set
forth.  The Option shall be exercisable from time to time during the
option term specified in Section 3 at the Option Exercise Price specified in
Section 2.

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

     

    2.           Option Exercise Price.  The
option exercise price per share of common stock covered by this Option shall be
$________ [Fair Market Value on Date of Grant].

     

    3.           Option
Term.  This Option shall have a term of five (5) years measured
from the Date of Grant and shall accordingly expire at 5:00 p.m. (Eastern Time)
on _________ [5 years from Date of Grant] (the “Expiration Date”), unless sooner
terminated in accordance with Section 7.

     

    4.           Exercise.  This
Option may be exercised (a) with respect to all or any part of one-third (1/3)
of the shares covered hereby at any time on or after ____________ [6 months from
Date of Grant], (b) with respect to all or any part of two-thirds (2/3) of the
shares covered hereby at any time on or after ______________ [1 year from Date
of Grant], and (c) with respect to all or any part of all of the shares covered
hereby at any time on or after ____________ [2 years from Date of
Grant].

     

    5.           Limited Transferability of
Option.

     

    (a)           Except
as provided in Section 5(b) hereof, this Option shall be exercisable during
Optionee’s lifetime only by Optionee and may not be sold, transferred, pledged,
assigned, or otherwise alienated or hypothecated, other than by Optionee’s will
or by the laws of descent and distribution.  Any attempted assignment,
transfer, pledge, hypothecation, or other disposition of the Option contrary to
the provisions hereof, and the levy of any execution, attachment, or similar
process upon the Option, shall be null and void and without
effect.

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    (b)           This
Option may be transferred, in whole or in part, by Optionee during Optionee’s
lifetime to any Family Member of Optionee.  Family Member means any
child, stepchild, grandchild, parent, stepparent, grandparent, spouse, or
sibling, including adoptive relationships, a trust in which these persons have
more than fifty percent (50%) of the beneficial interest, a foundation in which
these persons (or the Optionee) control the management of assets, and any other
entity in which these persons (or the Optionee) own more than fifty percent
(50%) of the voting interests.  The transfer of the Option may only be
effected by the Company at the written request of the Optionee and shall become
effective only when recorded in the Company’s record of outstanding
options.  The terms and conditions applicable to the transferred
portion of the Option shall be the same as those in effect for this Option
immediately prior to such transfer and shall be set forth in such documents
issued to the transferee as the Company may deem appropriate.

     

    6.           Manner of Exercising
Option.

     

    (a)           In
order to exercise this Option with respect to all or any part of the shares of
Stock for which this Option is at the time exercisable, Optionee (or any other
person or persons exercising the Option) must take the following
actions:

     

    (i)           Execute
and deliver to the Company a Notice of Exercise (“Notice”) (in the form attached
to this Agreement) for the shares of Stock for which the Option is exercised,
which Notice may require the Optionee to certify in a manner acceptable to the
Company that Optionee is in compliance with the terms and conditions of the Plan
and this Agreement; and

     

    (ii)           Pay
the aggregate Option Exercise Price for the purchased shares in one or more of
the following forms:

     

    (A)           by
cash, wire transfer or check made payable to the Company;

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    (B)           in
shares of Stock held by Optionee (or any other person or persons exercise the
Option) for at least six (6) months and valued at Fair Market Value on the date
of exercise; or

     

    (C)           through
a special sale and remittance procedure pursuant to which Optionee shall
concurrently provide irrevocable instructions (I) to the approved brokerage
firms to effect the immediate sale of the purchased shares and remit to the
Company, out of the sale proceeds available on the settlement date, sufficient
funds to cover the aggregate Option Exercise Price payable for the purchased
shares plus all applicable federal, state and local income and employment taxes
required to be withheld by the Company by reason of such exercise and (II) to
the Company to deliver the certificates for the purchased shares directly to
such brokerage firm in order to complete the sales transaction.

     

    Except to the extent the sale and
remittance procedure is utilized in connection with the Option exercise, payment
of the Option Exercise Price must accompany the Notice delivered to the Company
in connection with the Option exercise.

     

    In the event this Option is exercised
by any person or persons other than the Optionee, the Notice shall be
accompanied by appropriate proof of the right of such person or persons to
exercise the Option.

     

    (iii)          Make
appropriate arrangements with the Company for the satisfaction of all federal,
state and local income and employment tax withholding requirements applicable to
the Option exercise.

     

    (b)           As
soon as practical after the date of exercise, the Company shall issue to or on
behalf of Optionee (or any other person or persons exercising this Option) a
certificate for the purchased shares of Stock, with the appropriate legends, if
any, affixed thereto.

     

    (c)           In
no event may this Option be exercised for any fractional
shares.

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    7.           Termination of
Service.

     

    If the Optionee has a Termination of
Service (as defined in the Plan), the following provisions shall
apply:

     

    (a)           Death.  If the
Optionee’s Termination of Service is on account of death, then unvested Options
shall be forfeited, and Options, to the extent they are vested on the date of
Termination of Service, may be exercised, in whole or in part, by the Optionee’s
Designated Beneficiary (as defined in the Plan) at any time on or before the
earlier to occur of (x) the Expiration Date of the Option and (y) the first
anniversary of the date of such Termination of Service.

     

    (b)           Disability.  If the
Optionee’s Termination of Service is on account of Disability, unvested Options
shall be forfeited, and Options, to the extent they are vested on the date of
Termination of Service, may be exercised, in whole or in part, by the Optionee
at any time on or before the earlier to occur of (x) the Expiration Date of the
Option and (y) the first anniversary of the date of such Termination of
Service.

     

    (c)           Retirement After Five Years of
Service.  If the Optionee’s Termination of Service is on
account of retirement from the Board, after having served at least five (5)
years as a director, then all outstanding Options, to the extent not vested,
shall vest, and all outstanding Options may be exercised, in whole or in part,
by the Optionee at any time on or before the Expiration Date of the
Option.

     

    (d)           Cause.  If the
Optionee’s Termination of Service is on account of cause, all outstanding
Options, vested and unvested, shall terminate and be forfeited on the date of
such Termination of Service.

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    (e)           Other Reasons.  If
the Optionee’s Termination of Service is for any reason other than those
enumerated in Sections (a) through (d), unvested Options shall be forfeited, and
Options, to the extent they are vested on the date of Termination of Service,
may be exercised, in whole or in part, by the Optionee at any time on or before
the earlier to occur of (x) the Expiration Date of the Option and (y) three (3)
months after the date of such Termination of Service.

     

    (f)           Death After Termination of
Service.  If (i) the Optionee’s Termination of Service is for
any reason other than death and (ii) the Optionee dies after such Termination of
Service but before the date the Options must be exercised as set forth in the
preceding subsections, unvested Options shall be forfeited, and any Options, to
the extent they are vested on the date of the Optionee’s death, may be
exercised, in whole or in part, by the Optionee’s Designated Beneficiary at any
time on or before the earlier to occur of (x) the Expiration Date of the Option
and (y) the first anniversary of the date of death.

     

    8.           Detrimental
Activities.

     

    (a)           The
Committee may cancel, rescind, suspend, withhold or otherwise limit or restrict
this Option at any time if Optionee is not in compliance with all applicable
provisions of this Agreement and the Plan, or if Optionee engages in any
“Detrimental Activity”.  For purposes of this Agreement, “Detrimental
Activity” includes:  (i) the rendering of services for any
organization or engaging, directly or indirectly, in any business which is or
becomes competitive with the Company, or which organization or business, or the
rendering of services to such organization or business, is or becomes otherwise
prejudicial to or in conflict with the interests of the Company; (ii) the
disclosure to anyone outside the Company, or the use in other than the Company’s
business, without prior written authorization from the Company, of any
confidential information or material relating to the business of the Company,
acquired by the Optionee either during or after employment or service with the
Company; (iii) activity that results in termination of Optionee’s employment or
service for cause; (iv) a violation of any rules, policies, procedures or
guidelines of the Company, including, but not limited to, the Company’s Code of
Conduct; (v) any attempt, directly or indirectly, to induce any employee of the
Company to be employed or perform services elsewhere or any attempt, directly or
indirectly, to solicit the trade or business of any current or prospective
customer, supplier or partner of the Company or (vi) any other conduct or act
determined by the Board to be injurious, detrimental or prejudicial to any
interest of the Company.

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

     

    (b)           Upon
exercise of this Option, Optionee, if requested by the Company, shall certify in
a manner acceptable to the Company that Optionee is in compliance with the terms
and conditions of the Plan.

     

    (c)           In
the event Optionee fails to comply with the provisions of (i)-(vi) of Section
8(a) prior to, or during the six months after, any exercise of this Option, such
exercise may be rescinded within two years thereafter.  In the event
of any such rescission, Optionee shall pay to the Company the amount of any gain
realized or payment received as a result of the rescinded exercise, in such
manner and on such terms and conditions as may be required, and the Company
shall be entitled to set-off against the amount of any such gain any amount
owned to Optionee by the Company.

     

    9.           General
Restriction.  This Option shall be subject to the requirement
that if at any time the Board of Directors in its discretion shall determine
that the listing, registration or qualification of the shares subject to such
Option on any securities exchange or under any state or federal law, or the
consent or approval of any government regulatory body, is necessary or desirable
as a condition of, or in connection with, the granting of such Option or the
issuance or purchase of shares thereunder, such Option may not be exercised in
whole or in part unless such listing, registration, qualification, consent or
approval shall have been effected or obtained free of any conditions not
acceptable to the Board of Directors.

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

     

    10.           Option Adjustments; Change
in Control.  In the event of a stock dividend, stock split or
other change in corporate structure or capitalization affecting the common stock
or any other transaction (including, without limitation, an extraordinary cash
dividend) which, in the determination of the Compensation Committee (the
"Committee") of the Board of Directors, affects the common stock such that an
adjustment is required in order to preserve the benefits or potential benefits
intended to be made available under the Plan, then the Committee, in its sole
discretion, shall equitably adjust any or all of (i) the number and kind of
shares of stock subject to this Option, and (ii) the exercise price with respect
to the foregoing, provided that the number of shares subject to this Option
shall always be a whole number.  In the event of a Change in Control
(as defined in the Plan) or a dissolution or liquidation of the Company, the
Committee, in its sole discretion, may make such substitution or adjustment in
the number and purchase price of shares subject to this Option as it may
determine, make this Option fully vested and exercisable, or amend or terminate
this Option upon such terms and conditions as it shall provide (which, in the
case of the termination of the vested portion of this Option, shall require
payment or other consideration which the Committee deems equitable in the
circumstances).

     

    11.           Amendment to this Option
Award Agreement.  The Committee may modify or amend this Option
if it determines, in its sole discretion, that amendment is necessary or
advisable in the light of any addition to or change in the Internal Revenue Code
or in the regulations issued thereunder, or any federal or state securities laws
or other law or regulation, which change occurs after the date of grant of this
Option and by its terms applies to this Option.  No amendment of this
Option, however, may, without the consent of the Optionee, make any changes
which would adversely affect the rights of such Optionee.

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

     

    12.           Notices.  Notices
hereunder shall be in writing and if to the Company shall be delivered
personally to the Secretary of the Company or mailed to its principal office,
105 Norton Street, P.O. Box 271, Newark, New York 14513, addressed to the
attention of the Secretary and, if to the Optionee, shall be delivered
personally or mailed to the Optionee at Optionee’s address as the same appears
on the records of the Company.

     

    13.           Stockholder
Rights.  This Option does not confer upon the holder thereof
any rights as a stockholder of the Company until such person shall have
exercised this Option, paid the Option Exercise Price and become a holder of
record of the purchased shares of Stock

     

    14.           Interpretations of this
Agreement.  All decisions and interpretations made by the
Committee with regard to any question arising hereunder or under the Plan shall
be binding and conclusive on all persons having an interest in this
Option.  The Option granted hereunder, and the common stock which may
be issued upon exercise thereof, are subject to the provisions of the
Plan.  In the event there is any inconsistency between the provisions
of this Agreement and those of the Plan, the provisions of the Plan shall
govern.

     

    15.           Successors and
Assigns.  This Agreement shall bind and inure to the benefit of
the parties hereto and the successors and assigns of the Company and, to the
extent provided in Section 7, to the personal representatives, legatees and
heirs of the Optionee.

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    IN WITNESS WHEREOF, the Company has
caused this Option Award Agreement to be executed on the day and year first
above written.

     

    
      
        
          
            
              	
                      IEC
      ELECTRONICS CORP.

                    
	 	 
	
                      By:

                    	 
      
	 
      	
                      W.
      Barry Gilbert

                    
	
                      Its:

                    	
                      Chief
      Executive Officer and Chairman of the
Board

                    

            

          

        

      

    

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

     

    Exhibit
10.6

    ACCEPTANCE

     

    I, _______________________, hereby
certify that I have read and fully understand the foregoing Option Award
Agreement.  I acknowledge that I have been apprised that it is the
intent of the Company that Optionees obtain and retain an equity interest in the
Company.  I hereby execute this Option Award Agreement to indicate my
acceptance of this Option and my intent to comply with the terms
thereof.

     

    
      
        
          
            
              
                
                  	 
      
	
                          Optionee

                        
	 
	 
      
	
                          Street
      Address

                        
	 
	 
      
	
                          City

                        	
                          State

                        	
                          Zip
      Code

                        

                

              

            

          

        

      

    

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

     

    Exhibit
10.6

    EXHIBIT
A

     

    _________________________

     

    IEC
Electronics Corp.

    105
Norton Street

    P. O. Box
271

    Newark,
NY  14513

     

    Attention:  Secretary

     

    Dear
Sir:

     

    This is to notify you that I hereby
elect to exercise my option rights to ___________ shares of common stock of IEC
Electronics Corp. (the "Company") granted under the Option Award Agreement (the
"Agreement"), dated ___________________, 20__, issued to me pursuant to the 2001
Stock Option and Incentive Plan (the "Plan").  The option exercise
price pursuant to such Agreement, as adjusted, is $______ per share or
$__________ in the aggregate.

     

    In payment of the full option exercise
price, I enclose (please complete as appropriate):

     

    (a)           my
check payable to IEC Electronics Corp. in the amount of
$__________.

     

    
      	
               
      

            	
              (b)

            	
              __________
      shares of common stock of the Company owned by me for at least six months,
      free of any liens or encumbrances and having a fair market value of
      $_________.

            

    

     

    
      	
               
      

            	
              (c)

            	
              an
      authorization letter which gives irrevocable instructions to the Company
      to deliver the stock certificates representing the shares for which the
      option is being exercised directly to ______________ (name and address of
      broker) together with a copy of the instructions to _______________ (name
      of broker) to sell such shares and promptly deliver to the Company the
      portion of the proceeds equal to the total purchase price and withholding
      taxes due, if any.

            

    

     

    I hereby certify that I am in
compliance with the terms and conditions of the Plan and the
Agreement.

    

    
      
        
          	
                  Very
      truly yours,

                
	 
      
	 
      
	
                  Optionee's
      Signature

                

        

      

    

    
      
         

      

      
        12IEC
ELECTRONICS CORP.

      

      FORM
OF RESTRICTED STOCK AWARD AGREEMENT

      PURSUANT
TO

      2001
STOCK OPTION AND INCENTIVE PLAN

       

      THIS RESTRICTED STOCK AWARD AGREEMENT
(the "Award Agreement"), is dated as of ______________ by and between IEC
Electronics Corp., a Delaware corporation (the "Company"), and _______________
(the "Grantee").

       

      In accordance with the provisions of
the 2001 Stock Option and Incentive Plan of the Company (the "Plan"), the
Compensation Committee (the “Committee”) of the Board of Directors of the
Company has authorized the execution and delivery of this Award Agreement on the
terms and conditions herein set forth and as otherwise provided in the
Plan.  All defined terms used in this Award Agreement but not defined
herein shall have the meanings ascribed to them in the Plan.

       

      NOW, THEREFORE, in consideration of
services rendered and to be rendered by Grantee and the mutual covenants
hereinafter set forth and for other good and valuable consideration, the parties
hereto agree as follows:

       

      
        	
                1.

              	
                Award of Restricted
      Stock.  The Company hereby grants to the Grantee as of
      the date of this Award Agreement (the "Date of Grant") an award (the
      "Award") of ___________ shares of common stock of the Company, $.01 par
      value (the “Restricted Shares”), on the terms and conditions and subject
      to the restrictions set forth in this Award Agreement and as otherwise
      provided in the Plan.

              

      

       

      
        	
                2.

              	
                Restriction Periods
      and Vesting.  All of the Restricted Shares are non-vested
      and forfeitable as of the Date of Grant.  Subject to the terms
      and condition set forth in this Agreement and the Plan, the Restricted
      Shares granted shall become vested, rounded to the nearest whole shares as
      follows:

              

      

      
        
           

        

        
          1

          
            

          

        

        
           

        

      

      
        
          	
                  3.

                	
                  Restrictions on
      Transfer.  Except as otherwise provided in this Award
      Agreement, until the Restricted Shares become vested and non-forfeitable,
      they may not be sold, exchanged, transferred, pledged, hypothecated or
      otherwise disposed of, except by will or the laws of descent and
      distribution, and they shall not be subject to execution, attachment or
      similar process.  Any attempted assignment, transfer, pledge,
      hypothecation, or other disposition of the Restricted Shares contrary to
      the provisions hereof, and the levy of any execution, attachment, or
      similar process upon the Restricted Shares, shall be null and void and
      without effect.

                

        

      

       

      
        
          	
                  4.

                	
                  Termination of
      Employment; Detrimental Activities.  If the Grantee's
      employment with the Company is terminated for any reason whatsoever, other
      than death, Disability, Retirement or Change in Control, all Restricted
      Shares that are not then vested and non-forfeitable shall be immediately
      and automatically forfeited by the Grantee without any further action by
      the Company and shall be returned to or cancelled by the
      Company.  If the Grantee shall engage in any Detrimental
      Activity (as defined in the Plan) prior to the vesting of the Restricted
      Shares, the Committee may cancel, rescind, suspend, withhold or otherwise
      limit or restrict this Award of Restricted
  Shares.

                

        

      

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

      
        	
                5.

              	
                Taxes and Section
      83(b) Election.

              

      

       

      
        	
              	
                5.1.

              	
                Income
      Taxes and Tax Withholding

              

      

       

      
        	
                 
      

              	
                The
      Grantee acknowledges that upon the date any Restricted Shares granted
      hereby become vested (or, in the event that the Grantee makes an election
      under Section 83(b) of the Internal Revenue Code of 1986, as amended, (the
      "Code"), upon the Date of Grant with respect to all Restricted Shares) the
      Grantee will be deemed to have taxable income measured by the then Fair
      Market Value of such Restricted Shares.  The Grantee
      acknowledges that any income or other taxes due from Grantee with respect
      to such Restricted Shares shall be the Grantee's
      responsibility.

              

      

       

      
        	
                 
      

              	
                The
      Grantee agrees that the Company may withhold from the Grantee's
      remuneration, if any, the minimum statutory amount of federal, state and
      local withholding taxes attributable to such amount that is considered
      compensation includable in such person's gross income.  At the
      Company's discretion, the amount required to be withheld may be withheld
      in cash from such remuneration or in kind from the Restricted
      Shares.  The Grantee further agrees that, if the Company does
      not withhold an amount from the Grantee's remuneration sufficient to
      satisfy the Company's income tax withholding obligation, the Grantee will
      reimburse the Company on demand, in cash, for the amount
      under-withheld.

              

      

       

      
        
           

        

        
          3

          
            

          

        

        
           

        

      

      
        	
              	
                5.2

              	
                Section
      83(b) Election

              

      

       

      
        	
                 
      

              	
                Grantee
      understands that Grantee may elect to be taxed at the time of the Date of
      Grant, rather than at the time the restrictions lapse, by filing an
      election under Section 83(b) of the Code (an "83(b) Election") with the
      Internal Revenue Service within 30 days of the Date of
      Grant.  In the event Grantee files an 83(b) Election, Grantee
      will recognize ordinary income in an amount equal to the difference
      between the amount, if any, paid for the Restricted Shares and the Fair
      Market Value of such shares as of the Date of Grant.  Grantee
      further understands that an additional copy of such 83(b) Election form
      should be filed with Grantee's federal income tax return for the calendar
      year in which the Date of Grant falls.  Grantee acknowledges
      that the foregoing is only a summary of the effect of United States
      federal income taxation with respect to the award of Restricted Shares
      hereunder, and does not purport to be complete.  GRANTEE FURTHER
      ACKNOWLEDGES THAT THE COMPANY IS NOT RESPONSIBLE FOR FILING THE GRANTEE'S
      83(b) ELECTION, AND THE COMPANY HAS DIRECTED GRANTEE TO SEEK INDEPENDENT
      ADVICE REGARDING THE APPLICABLE PROVISIONS OF THE INTERNAL REVENUE CODE,
      THE INCOME TAX LAWS OF ANY MUNICIPALITY, STATE OR FOREIGN COUNTRY IN WHICH
      GRANTEE MAY RESIDE AND THE TAX CONSEQUENCES OF GRANTEE'S
      DEATH.

              

      

       

      
        	
                6.

              	
                Stock
      Certificates.

              

      

       

      
        	
              	
                6.1

              	
                Certificate;
      Book Entry

              

      

       

      
        	
                 
      

              	
                The
      Company shall issue the Restricted Shares either (i) in certificate form
      or (ii) in book entry form, registered in the name of the Grantee, with
      legends, or notations, as applicable, referring to the terms, conditions
      and restrictions applicable to the Restricted
  Shares.

              

      

       

      
        	
              	
                6.2

              	
                Legend

              

      

       

      
        	
                 
      

              	
                The
      Grantee agrees that any certificate issued for the Restricted Shares prior
      to the lapse of any outstanding restrictions relating thereto shall be
      inscribed with the following
legend:

              

      

      
        
           

        

        
          4

          
            

          

        

        
           

        

      

       

      This
certificate and the shares of stock represented hereby are subject to the terms
and conditions, including forfeiture provisions and restrictions against
transfer (the "Restrictions"), contained in the IEC Electronics Corp. 2001 Stock
Option and Incentive Plan, as amended, and in an Award Agreement entered into
between the registered owner and the Company.  Any attempt to dispose
of these shares in contravention of the Restrictions, including by way of sale,
assignment, transfer, pledge, hypothecation or otherwise, shall be null and void
and without effect.

       

      
        	
              	
                6.3

              	
                Custody

              

      

       

      
        	
                 
      

              	
                The
      Company may retain physical custody of the certificates representing the
      Restricted Shares until all of the restrictions on transfer pursuant to
      this Award Agreement lapse or shall have been removed; in such event the
      Grantee shall not retain physical custody of any certificates representing
      unvested Restricted Shares issued to
Grantee.

              

      

       

      
        	
              	
                6.4

              	
                Delivery
      of Certificates Upon Vesting

              

      

       

      
        	
                 
      

              	
                Upon
      the lapse of restrictions relating to any Restricted Shares, the Company
      shall, as applicable, either remove the notations on any such Restricted
      Shares issued in book-entry form or deliver to the Grantee or the
      Grantee's personal representative a stock certificate representing a
      number of shares of common stock, free of the restrictive legend described
      above, equal to the number of Restricted Shares with respect to which such
      restrictions have lapsed.  If certificates representing such
      Restricted Shares shall have heretofore been delivered to the Grantee,
      such certificates shall be returned to the Company, complete with any
      necessary signatures or instruments of transfer prior to the issuance by
      the Company of such unlegended Restricted Shares of common
      stock.

              

      

      
        
           

        

        
          5

          
            

          

        

        
           

        

      

      
        	
              	
                6.5

              	
                Unvested
      Forfeited Shares

              

      

       

      
        	
                 
      

              	
                Any
      Restricted Shares forfeited pursuant to this Award Agreement shall be
      transferred to, and reacquired by, the Company without payment of any
      consideration by the Company, and neither the Company nor any of the
      Grantee's successors, heirs, assigns or personal representatives shall
      thereafter have any further rights or interests in such
      shares.  If certificates for any such Restricted Shares
      containing restrictive legends shall have theretofore been delivered to
      the Grantee (or Grantee's legatees or personal representative), such
      certificates shall be returned to the Company, complete with any necessary
      signatures or instruments of
transfer.

              

      

       

      
        	
              	
                6.6

              	
                Stock
      Power; Power of Attorney

              

      

       

      
        	
                 
      

              	
                Concurrently
      with the execution and delivery of this Award Agreement, Grantee shall
      deliver to the Company an executed stock power in the form attached hereto
      as Exhibit A, in blank, with respect to such Restricted
      Shares.  Grantee, by acceptance of the Award, shall be deemed to
      appoint, and does so appoint by execution of this Award Agreement, the
      Company and each of its authorized representatives as Grantee's
      attorney(s)-in-fact to effect any transfer of unvested forfeited
      shares.

              

      

       

      
        	
                7.

              	
                Capital Changes and
      Adjustments.  This Award shall be adjusted by the
      Committee at the same time as adjustments are made in accordance with
      Section 4.2 of the Plan with regard to "Adjustments in Authorized Stock
      and Awards" in a manner similar to, and subject to, the same requirements
      under Section 4.2 of the Plan.

              

      

       

      
        	
                8.

              	
                Shares Issued Upon
      Changes in Capitalization.  The restrictions imposed
      under this Award Agreement shall apply as well to all shares or other
      securities issued in respect of the Restricted Shares in connection with
      any stock split, stock dividend, stock distribution, recapitalization,
      reclassification, merger, consolidation or
  reorganization.

              

      

      
        
           

        

        
          6

          
            

          

        

        
           

        

      

       

      
        	
                9.

              	
                Lapse of Restrictions
      and Acceleration of Vesting.  Prior to the lapsing of the
      restrictions in accordance with Section 2 hereof, in the event of (a) any
      tender offer or exchange offer (other than an offer by the Company) for
      the Company's common stock, or a dissolution or liquidation of the
      Company, or a merger or consolidation or similar transaction in which the
      Company is not the surviving company, or a sale, exchange or other
      disposition of all or substantially all of the Company assets, or other
      Change in Control of the Company (as defined in the Plan), or (b) the
      Grantee's termination of employment with the Company by reason of death,
      Disability, or Retirement, the restrictions set forth in this Award
      Agreement shall immediately lapse, the Restricted Shares shall become
      fully vested, and the Company shall issue the certificate representing the
      Restricted Shares without a restrictive
legend.

              

      

       

      
        	
                10.

              	
                Amendment to this
      Award Agreement.  The Committee may modify or amend this
      Award Agreement if it determines, in its sole discretion, that amendment
      is necessary or advisable in the light of any addition to or change in the
      Internal Revenue Code or in the regulations issued thereunder, or any
      federal or state securities laws or other law or regulation, which change
      occurs after the Date of Grant of this Award and by its terms applies to
      this Award.  No amendment of this Award, however, may, without
      the consent of the Grantee, make any changes which would adversely effect
      the rights of such Grantee.

              

      

       

      
        	
                11.

              	
                Right of
      Employment.  Nothing contained herein shall confer upon
      the Grantee any right to be continued in the employment of the Company or
      interfere in any way with the right of the Company, which is hereby
      reserved, to terminate Grantee's employment at any time for any reason
      whatsoever, with or without cause and with or without advance
      notice.

              

      

      
        
           

        

        
          7

          
            

          

        

        
           

        

      

       

      
        	
                12.

              	
                Rights as a
      Shareholder.  Upon issuance of the stock certificate
      evidencing the Restricted Shares and subject to the restrictions contained
      in Sections 2, 3, 4, and 6, the Grantee shall have all the rights of a
      shareholder of the Company with respect to the Restricted Shares,
      including the right to vote the Restricted Shares and receive all
      dividends and other distributions paid or made with respect
      thereto.

              

      

       

      
        	
                13.

              	
                Notices.  Notices
      hereunder shall be in writing and if to the Company shall be delivered
      personally to the Secretary of the Company or mailed to its principal
      office, 105 Norton Street, P.O. Box 271, Newark, New York 14513, addressed
      to the attention of the Secretary and, if to the Grantee, shall be
      delivered personally or mailed to the Grantee at Grantee's address as the
      same appears on the records of the
Company.

              

      

       

      
        	
                14.

              	
                Interpretations of
      this Award Agreement.  All decisions and interpretations
      made by the Committee with regard to any question arising hereunder or
      under the Plan shall be binding and conclusive on the Company and the
      Grantee.  The Award and the Restricted Shares are subject to the
      provisions of the Plan which are incorporated hereby by
      reference.  In the event there is any inconsistency between the
      provisions of this Award Agreement and those of the Plan, the provisions
      of the Plan shall govern.

              

      

       

      
        	
                15.

              	
                Successors and
      Assigns.  This Award Agreement shall bind and inure to
      the benefit of the Company and the successors and assigns of the Company
      and to the Grantee and to the Grantee's heirs, executors, administrators,
      successors and assigns.

              

      

      
        
           

        

        
          8

          
            

          

        

        
           

        

      

       

      
        	
                16.

              	
                Governing
      Law.  The laws of the State of Delaware shall govern the
      interpretation, validity, enforcement and performance of the terms of this
      Award Agreement regardless of the law that might be applied under
      principles of conflicts of laws.

              

      

       

      
        	
                17.

              	
                Acknowledgement; Bound
      by Plan.  By signing the Award Agreement, the Grantee
      acknowledges that Grantee has received a copy of the Plan, has had an
      opportunity to review the Plan and this Award Agreement in their entirety,
      understands all provisions of the Plan and this Award Agreement, and
      agrees to be bound by, and to comply with, all the terms and provisions of
      the Plan and this Award Agreement.

              

      

       

      IN WITNESS WHEREOF, the Company has
caused this Award Agreement to be executed by its duly authorized officer and
the Grantee has set Grantee's hand, on the day and year first above
written.

       

      
        
          
            
              
                
                  
                    
                      
                        
                          	
                                  IEC
      ELECTRONICS CORP.

                                	 
	 
      	 
	
                                  By

                                	 
      	 
	 
      	
                                  W.
      Barry Gilbert

                                	 
	 	 	 
	
                                  Its:

                                	
                                  Chief
      Executive Officer and

                                	 
	
                                  Chairman
      of the Board

                                	 
	 
      	 
	
                                  Grantee

                                	 
	 
      	 
	 
      	 
	 
      	
                                  ___________________________________

                                	 

                        

                      

                    

                  

                

              

            

          

        

      

      
        
           

        

        
          9

          
            

          

        

        
           

        

      

      Exhibit
A

       

      STOCK
POWER

       

      For Value
Received ____________________  hereby sells, assigns and

      transfers
unto  the Corporation

      __________
Shares of the Common Stock of IEC ELECTRONICS CORP.
standing in my name on the books of said Corporation represented by
Certificate(s) No(s)._______, and does hereby irrevocably constitute and
appoint

       

      __________________________________________________________

      attorney
to transfer the said stock on the books of said Corporation

      with full
power of substitution in the premises.

       

      Dated:__________________

       

      
        
          
            
              
                	 
      	 
      	 	 
      
	
                        Witness

                      	 
      	 	 
      

              

            

          

        

      

      
        
           

        

        
          10

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