Document:

Unassociated Document

    

      Ex.
10.6

       

      PUDA
COAL, INC.

      2008
Equity Incentive Plan

      Restricted
Stock Unit Grant Agreement

       

      This
Restricted Stock Unit Agreement (the “Agreement”) is dated
as of _______ and entered into between Puda Coal, Inc., a Florida corporation
(the “Company”), and [name
of employee] (the “Employee”).

       

      Pursuant
to the terms of the 2008 Equity Incentive Plan (the “Plan”) the Company
hereby awards to the Employee restricted stock units (“Restricted Stock
Units”) on the terms and conditions as set forth in this Agreement and
the Plan.  The grant date of this award is ________ (the “Grant
Date”).  Capitalized terms used but not defined in this
Agreement shall have the meaning specified in the Plan.

       

      In
consideration of the mutual promises set forth below, the parties hereto agree
as follows:

       

      1.      Award of Restricted Stock
Units.  Subject to the terms and conditions of this Agreement
and the Plan (the terms of which are incorporated herein by reference) and
effective as of the Grant Date, the Company hereby grants to the
Employee           
     Restricted Stock Units.  The
Restricted Stock Units relate on a one-for-one basis to shares of the Company’s
Common Stock (each such share, adjusted in accordance with Section 14 of the
Plan, a “Share”).

       

      2.      Vesting.  Restricted
Stock Units vest (meaning that the Employee’s right to the Restricted Stock
Units and the underlying Shares becomes nonforfeitable and no longer subject to
any continuing service obligation) on the one (1) year anniversary of the Grant
Date (the “Vesting
Date”), provided that continuously through the Vesting Date the following
requirements are met: (a) the Employee remains continuously employed by the
Company or a Subsidiary; (b) the Employee does not during the Restricted Period
(as defined below) become an employee of, or doing work outside the Company for,
a past or present competitor of the Company or a Subsidiary.  The
period between the Grant Date and the earlier of (a) the Vesting Date, (b) the
date on which the Employee’s services with the Company or a Subsidiary
terminates as a result of his death or disability, including Total and Permanent
Disability (either, the “Termination Date”),
or (c) the date of any accelerated vesting as a result of Section 5 below (such
date, the “Change in Control Date”) is referred to as the “Restricted
Period.”

       

      3.      Effect of Termination of
Service or Leave of Absence.  If the Employee’s service is
terminated by the Employee or by the Company or a Subsidiary for any reason
except the Employee’s death or disability (including Total and Permanent
Disability) before the Vesting Date, all Restricted Stock Units shall be
forfeited.  Upon forfeiture of Restricted Stock Units under this
Agreement, the portion of the award so forfeited shall terminate and the Company
shall have no obligation to issue any Shares in settlement of that portion of
the award.  If the Employee dies or becomes disabled (including Total
and Permanent Disability), a pro rata portion of the Employee’s Restricted Stock
Units through the Termination Date (measured as if the award had vested monthly
as to one-twelfth of the Restricted Stock Units commencing one month from the
Grant Date) shall vest immediately upon the Termination Date and the remainder
of the Restricted Stock Units shall be forfeited.  If the Employee
returns to service immediately after the end of a leave of absence approved by
the Company, for the purpose of this Agreement only the Employee shall be
considered to have remained continuously employed by the Company through the
period of the leave of absence.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      4.      Distribution.  Subject
to any limitations set forth in this Agreement (including Sections 7 and 8
below) and the Plan, a number of Shares will be issued (“distributed”) to the
Employee in settlement and full satisfaction of the Restricted Stock Units equal
to the number of then-vested Restricted Stock Units on the earlier to occur of
(a) the Vesting Date, (b) thirty (30) days after the Termination Date (but only
with respect to the portion of the award that vests as set forth in Section 3
above) or (c) the Change in Control Date (the earlier of such dates is referred
to as the “Distribution Date”).  Stock certificates (including
electronic notations reflecting the same, the “Certificate”) evidencing the
Shares to be issued upon settlement of vested Restricted Stock Units shall be
issued and registered in the Employee’s name and delivered to (or appropriate
notice in the case of electronic Certificate delivered to) the Employee (or in
the case of the Employee’s death, to his beneficiary or estate) as soon as
practicable following the Distribution Date.

       

      5.      Change in
Control.  In the event of a Change in Control (as defined in
the Plan), the Board or Committee may, in its discretion, (i) provide for
the assumption or substitution of, or adjustment (including to the number and
type of Shares and purchase price applicable) to, each outstanding Award;
(ii) terminate any restrictions on Stock Awards; and/or (iii) provide
for the cancellation of Awards for a cash payment to the Employee. For the
purposes of this Section 14(c), an Award shall be considered assumed, without
limitation, if, at the time of issuance of the stock or other consideration upon
a Change in Control, as the case may be, each holder of an Award would be
entitled to receive upon exercise of the Award the same number and kind of
shares of stock or the same amount of property, cash or securities as such
holder would have been entitled to receive upon the occurrence of the
transaction if the holder had been, immediately prior to such transaction, the
holder of the number of Shares covered by the Award at such time (after giving
effect to any adjustments in the number of Shares covered by the Award as
provided for in Section 14(a)); provided that if such consideration received in
the transaction is not solely common stock of the successor corporation, the
Administrator may, with the consent of the successor corporation provide for the
consideration to be received upon exercise of the Award to be solely common
stock of the successor corporation equal to the Fair Market Value of the per
Share consideration received by holders of Common Stock in the
transaction.

       

      6.      Dividends.  To
the extent the Company pays any cash dividends, stock dividends or other
distributions on or with respect to Shares during the Restricted Period,
Employees holding Restricted Stock Units shall be entitled to receive credit for
cash dividends, stock dividends and other distributions paid during the
Restricted Period with respect to the corresponding number of Shares underlying
the Restricted Stock Units, provided that the fair market
value of any such dividends or distributions shall be converted into an
additional number of Restricted Stock Units (based on the Fair Market Value of
the Common Stock at the time of such payment or distribution), which additional
Restricted Stock Units shall be subject to the same forfeiture restrictions and
restrictions on transferability as apply to, and shall be settled at the same
time as the Restricted Stock Units with respect to which they
relate.  Credit under this paragraph for any dividends paid during the
Restricted Period shall be done as soon as practicable following the payment
date for such dividend.

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

      7.      Tax Withholding
Obligations.  In such circumstances in which withholding is
applicable, to meet any such obligations of the Company and Employee that might
arise with respect to any withholding taxes, social security contributions, or
the like under any federal, state, local or PRC statute, ordinance, rule, or
regulation in connection with the award grant, vesting, deferral, or settlement
of the Restricted Stock Units (including without limitation additional
Restricted Stock Unit, if any, provided to the Employee pursuant to Section 6
above), the Committee can, in the circumstances where appropriate, require that
the Company withhold a number of shares of Common Stock otherwise deliverable
having a Fair Market Value sufficient to satisfy the statutory minimum (or such
higher amount as is allowable without adverse accounting consequences) of the
Employee’s estimated total federal, state, local or PRC tax and other social
security contribution obligations associated with award, vesting or settlement
of the Restricted Stock Units.  In such circumstances, the Company may
also, in lieu of or in addition to the foregoing, at its sole discretion, either
require the Employee to deposit with the Company an amount of cash sufficient to
meet such requirements and/or withhold the required amounts from the Employee’s
pay during the pay periods next following the date on which any such applicable
tax or social contribution liability otherwise arises.  The Company
shall not deliver any of the Certificates until and unless the Employee has made
the deposit required herein or proper provision for required withholding or
contribution has been made. The Employee hereby consents to any action
reasonably taken by the Company to meet all or any of such
obligations.

       

      8.      Restriction on
Transferability.  Until the Distribution Date, the Restricted
Stock Units may not be sold, transferred, pledged, assigned, or otherwise
alienated at any time.  Any attempt to do so contrary to the
provisions hereof shall be null and void.  Notwithstanding the above,
distribution can be made pursuant to will, the laws of descent and distribution,
intrafamily transfer instruments or to an inter vivos trust.

       

      9.      Rights as
Stockholder.  Subject to Section 6 above with respect to
dividends, the Employee shall not have voting or any other rights as a
stockholder of the Company with respect to the Restricted Stock Units prior to
the Distribution Date. Upon the Distribution Date, the Employee will obtain full
voting and other rights as a stockholder of the Company.

       

      10.   
Administration.  The
Committee shall have the power to interpret the Plan and this Agreement and to
adopt such rules for the administration, interpretation, and application of the
Plan as are consistent therewith and to interpret or revoke any such
rules.  All actions taken and all interpretations and determinations
made by the Committee shall be final and binding upon the Employee, the Company,
and all other interested persons.  No member of the Committee shall be
personally liable for any action, determination, or interpretation made in good
faith with respect to the Plan or this Agreement.

       

      11.    Effect on Other Employee
Benefit Plans.  The value of the Restricted Stock Units granted
pursuant to this Agreement shall not be included as compensation, earnings,
salaries, pensionable salary or other similar terms used when calculating the
Employee’s benefits under any employee benefit, pension plan or post-employment
payment or severance arrangement sponsored by the Company or any Subsidiary
except as such plan otherwise expressly provides.  The Company
expressly reserves its rights to amend, modify, or terminate any of the
Company’s or any Subsidiary’s employee benefit plans or
arrangements.

      
        
           

        

        
          3

          
            

          

        

        
           

        

      

      12.    No Employee
Rights.

       

      (a)           The
award of the Restricted Stock Units pursuant to this Agreement shall not give
the Employee any right to remain employed by the Company or a
Subsidiary.  The award is granted completely within the discretion of
the Company.  It is not made as a part of any ongoing element of
compensation or something which the Employee should expect to receive annually
or on any other periodic basis.  It does not constitute part of the
Employee’s salary or wages and unless specifically agreed to otherwise with the
Company is not relevant for purpose of determining any post-employment payment
or severance.

       

      (b)           In
no circumstances shall the Employee on ceasing to hold the office or employment
by virtue of which the Employee is or may be eligible to participate in the Plan
be entitled to any compensation for any loss of any right or benefit or
prospective right or benefit under the Plan or this Agreement which the Employee
might otherwise have enjoyed (including, without limitation, the forfeiture of
Restricted Stock Units) by reason of the Employee’s ceasing to hold an office or
ceasing to be employed by the Company or any Subsidiary whether such
compensation is claimed by way of damages for wrongful dismissal or other breach
of contract or by way of compensation for loss of office or
otherwise.  The Employee hereby waives all and any rights to
compensation or damages in consequence of the termination of his office or
employment for any reason whatsoever (including, without prejudice to the
generality of the foregoing, wrongful dismissal or dismissal in breach of
contract) insofar as those rights arise, or may arise, from the Employee’s
ceasing to have rights under this Agreement or forfeiting any Restricted Stock
Units as a result of such termination, or from the loss or diminution in value
of such rights or entitlements.

       

      13.    Amendment.  This
Agreement may be amended only by a writing executed by the Company and the
Employee which specifically states that it is amending this Agreement.
Notwithstanding the foregoing, this Agreement may be amended solely by the
Committee by a writing which specifically states that it is amending this
Agreement, so long as a copy of such amendment is delivered to the Employee, and
provided that no such amendment adversely affects the rights of the Employee
(but limiting the foregoing, the Committee reserves the right to change, by
written notice to the Employee, the provisions of the Restricted Stock Units or
this Agreement in any way it may deem necessary or advisable to carry out the
purpose of the grant as a result of any change in Applicable Laws or regulations
or any future law, regulation, ruling, or judicial decision, provided that any
such change shall be applicable only to Restricted Stock Units which are then
subject to restrictions as provided herein).

       

      14.    Notices.  Any
notice to be given under the terms of this Agreement to the Company shall be
addressed to the Company in care of its stock administrator. Any notice to be
given to the Employee shall be addressed to the Employee at the address listed
in the Company’s records.  By a notice given pursuant to this Section,
either party may designate a different address for notices.  Any
notice shall have been deemed given when actually delivered.

      
        
           

        

        
          4

          
            

          

        

        
           

        

      

      15.    Severability.  If
all or any part of this Agreement or the Plan is declared by any court or
governmental authority to be unlawful or invalid, such unlawfulness or
invalidity shall not invalidate any portion of this Agreement or the Plan not
declared to be unlawful or invalid.  Any Section of this Agreement (or
part of such a Section) so declared to be unlawful or invalid shall, if
possible, be construed in a manner which will give effect to the terms of such
Section or part of a Section to the fullest extent possible while remaining
lawful and valid.

       

      16.    Construction.  The
Restricted Stock Units are being issued pursuant to Section 11 of the Plan
and are subject to the terms of the Plan.  A copy of the Plan has been
given to the Employee, and additional copies of the Plan are available upon
request during normal business hours at the principal executive offices of the
Company.  To the extent that any provision of this Agreement violates
or is inconsistent with an express provision of the Plan, the Plan provision
shall govern and any inconsistent provision in this Agreement shall be of no
force or effect.

       

      17.    Miscellaneous.

       

      (a)           Legal
Compliance.  This Agreement shall be subject to all Applicable Laws,
rules, and regulations, and to such approvals by any governmental agencies or
national securities exchanges as may be required.  The Company shall
have no liability for failure to issue Shares pursuant to this Agreement unless
it is able to do so in compliance with all Applicable Laws.

       

      (b)           Successors.  All
obligations of the Company under the Plan and this Agreement, with respect to
the Restricted Stock Units, shall be binding on any successor to the Company,
whether the existence of such successor is the result of a direct or indirect
purchase, merger, consolidation, or otherwise, of all or substantially all of
the business and/or assets of the Company.

       

      (c)           Data
Processing.  By signing this Agreement, the Employee acknowledges that
his or her personal employment or other service information regarding
participation in the Plan and information necessary to determine and pay, if
applicable, benefits under the Plan must be shared with other entities,
including companies related to the Company and persons responsible for certain
acts in the administration of the Plan.  By signing this Agreement,
the Employee consents to such transmission of personal data, as the Company
believes is appropriate to administer the Plan.

       

      (d)           Governing
Law.  To the extent not preempted by federal law of the United States,
this Agreement shall be governed by, and construed in accordance with, the laws
of the State of Florida.

      
        
           

        

        
          5

          
            

          

        

        
           

        

      

      IN
WITNESS WHEREOF, the parties have executed and delivered this Agreement
effective as of the day and year first above written.

       

      
        
          
            
              
                
                  
                    
                      
                        
                          
                            	
                                    “Employee”

                                  	 
      	
                                    “Company”

                                    Puda
      Coal, Inc.

                                  
	 	 	 
	 
      	 
      	
                                    By

                                  	 
      
	 
      	 
      	
                                    Name:

                                  	 
      
	 
      	 
      	
                                    Title:

                                  	 
      

                          

                        

                      

                    

                  

                

              

            

          

        

      

      
        
           

        

        
          6Ex.
10.7

     

    PUDA
COAL, INC.

     

    2008
EQUITY INCENTIVE PLAN

     

    STOCK OPTION
AGREEMENT

     

    
      
        
          
            
              
                
                  
                    
                      	
                              Name
      and Address of Awardee:

                            	
                              (the
      “Awardee”)

                            
	 
      	 
      
	
                              Board
      Approval Date:

                            	
                               

                            
	 
      	 
      
	
                              Grant
      Date:

                            	
                              (the
      “Grant
      Date”)

                            
	 
      	 
      
	
                              Exercise
      Price Per Share:

                            	
                              the
      (“Exercise
      Price”)

                            
	 
      	 
      
	
                              No. of Underlying
      Shares:

                            	
                              shares
      of Common Stock (the “Shares”)

                            
	 
      	 
      
	
                              Type
      of Option:

                            	
                              Shares
      Incentive Stock Option

                            
	 
      	 
      
	 
      	
                              Shares
      Nonstatutory Stock Option

                            
	 
      	 
      
	
                              Expiration
      Date:

                            	
                              (the
      “Expiration
      Date”)

                            
	 
      	 
      
	
                              Vesting
      Commencement Date:

                            	
                              (the
      “Vesting
      Commencement Date”)

                            
	 
      	 
      
	
                              Transferability:

                            	
                              This
      Option may not be
transferred.

                            

                    

                  

                

              

            

          

        

      

    

     

    1.           Grant of
Option.  Puda Coal, Inc.,
a Florida corporation (the “Company”), hereby
grants to Awardee an option (this “Option”) to purchase
the Shares at the above Exercise Price per Share subject to the terms,
definitions and provisions of the Puda Coal, Inc. 2008 Equity Incentive Plan
(the “Plan”),
which is incorporated into this Stock Option Agreement (this “Agreement”) by
reference.  Unless otherwise defined in this Agreement, the terms used
in this Agreement shall have the meanings defined in the Plan.

     

    2.           Designation
of Option.  This Option is
intended to be an Incentive Stock Option as defined in Section 422 of the
Code only to the extent so designated above, and to the extent it is not so
designated or to the extent this Option does not qualify as an Incentive Stock
Option, it is intended to be a Nonstatutory Stock Option.

     

    Notwithstanding
the above, if designated as an “Incentive Stock Option,” this Option shall be
treated in accordance with Section 9(b) of the Plan.

     

    
      3.         
Vesting/Exercise
Schedule.
So
long as Awardee’s employment or consulting relationship
with the Company continues, this Option shall vest and become exercisable with
respect to the Shares in accordance with the following
schedule:

    

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    

    ___________
of the Shares subject to this Option shall vest and become exercisable on the
________ month anniversary of the Vesting Commencement Date and _______ of the
total number of Underlying Shares subject to this Option shall vest and become
exercisable each month thereafter.

    

    4.           Exercise
of Option.  This Option shall
be exercisable prior to the Expiration Date in accordance with the
Vesting/Exercise Schedule set forth in Section 3 above and Section 10 of
the Plan by delivering an Option exercise notice in the form attached hereto as
Exhibit A
indicating his or her election to purchase some or all of the Shares with
respect to which this Option is exercisable at the time of such notice and
further agrees that:

     

    (a)           As
a condition to the exercise of this Option, Awardee agrees to make arrangements
as the Administrator may require for tax withholding as set forth in Section 13
of the Plan; and

     

    (b)           The
Company is not obligated, and will have no liability for failure, to issue or
deliver any Shares upon exercise of this Option unless such issuance or delivery
would comply with the Applicable Laws, with such compliance determined by the
Company in consultation with its legal counsel. This Option may not be exercised
until such time as the Plan has been approved by the stockholders of the
Company, or if the issuance of such Shares upon such exercise or the method of
payment of consideration for such shares would constitute a violation of any
applicable federal or state securities or other law or regulation, including any
rule under Part 221 of Title 12 of the Code of Federal Regulations as
promulgated by the Federal Reserve Board.  As a condition to the
exercise of this Option, the Company may require Awardee to make any
representation and warranty to the Company as may be required by the Applicable
Laws.  Assuming such compliance, for income tax purposes the Shares
shall be considered transferred to Awardee on the date on which this Option is
exercised with respect to such Shares.

     

    5.           Method of
Payment.  Payment of the
Exercise Price shall be by any of the following, or a combination of the
following, at the election of Awardee:

     

    (a)           cash,
check or wire transfer (denominated in U.S. Dollars); or

     

    (b)           other
as set forth in Section 8 of the Plan.

     

    6.           Termination
of Relationship.  Following the
date of termination of Awardee’s employment or service for any reason (the
“Termination
Date”), Awardee may exercise this Option only as set forth in Section 10
of the Plan.

     

    7.           Non-Transferability
of Option.  This Option may
not be transferred in any manner otherwise than by will or by the laws of
descent or distribution and may be exercised during the lifetime of Awardee only
by such Awardee.  The terms of this Option shall be binding upon the
executors, administrators, heirs, successors and assigns of
Awardee.

     

    8.           Tax
Consequences.  Below is a brief
summary as of the date of this Option of certain of the U.S. federal tax
consequences of exercise of this Option and disposition of the Shares under the
laws in effect as of the Grant Date, which may or may not apply to you depending
on your tax status.  THIS SUMMARY IS INCOMPLETE, AND THE TAX LAWS AND
REGULATIONS ARE SUBJECT TO CHANGE.  AWARDEE SHOULD CONSULT A TAX
ADVISER BEFORE EXERCISING THIS OPTION OR DISPOSING OF THE
SHARES.

    
      
         

      

      
        -2-

        
          

        

      

      
         

      

    

    (a)           Incentive
Stock Option.

     

    (i)           Tax
Treatment upon Exercise and Sale of Shares.  If this Option
qualifies as an Incentive Stock Option, there will be no regular federal income
tax liability upon the exercise of this Option, although the excess, if any, of
the fair market value of the Shares on the date of exercise over the Exercise
Price will be treated as an adjustment to the alternative minimum tax for
federal tax purposes and may subject Awardee to the alternative minimum tax in
the year of exercise.  If Shares issued upon exercise of an Incentive
Stock Option are held for at least one year after exercise and are disposed of
at least two years after this Option grant date, any gain realized on
disposition of the Shares will also be treated as long-term capital gain for
federal income tax purposes.  If Shares issued upon exercise of an
Incentive Stock Option are disposed of within such one-year period or within two
years after this Option grant date, any gain realized on such disposition will
be treated as compensation income (taxable at ordinary income rates) to the
extent of the difference between the Exercise Price and the lesser of
(i) the fair market value of the Shares on the date of exercise, or
(ii) the sale price of the Shares.

     

    (ii)           Notice of
Disqualifying Dispositions.  With respect to any Shares issued
upon exercise of an Incentive Stock Option, if Awardee sells or otherwise
disposes of such Shares on or before the later of (i) the date two years
after the Option grant date, or (ii) the date one year after the date of
exercise, Awardee shall immediately notify the Company in writing of such
disposition.  Awardee acknowledges and agrees that he or she may be
subject to income tax withholding by the Company on the compensation income
recognized by Awardee from the early disposition by payment in cash or out of
the current earnings paid to Awardee.

     

    (b)           Nonstatutory
Stock Option.  If this Option
does not qualify as an Incentive Stock Option, there may be a regular federal
(and state) income tax liability upon the exercise of this Option. Awardee will
be treated as having received compensation income (taxable at ordinary income
tax rates) equal to the excess, if any, of the fair market value of the Shares
on the date of exercise over the Exercise Price.  If Awardee is an
Employee, the Company will be required to withhold from Awardee’s compensation
or collect from Awardee and pay to the applicable taxing authorities an amount
equal to a percentage of this compensation income at the time of
exercise.  If Shares issued upon exercise of a Nonstatutory Stock
Option are held for at least one year, any gain realized on disposition of the
Shares will be treated as long-term capital gain for federal income tax
purposes.

     

    9.           Effect of
Agreement.  Awardee acknowledges receipt of a copy of the Plan
and represents that he or she is familiar with the terms and provisions thereof
(and has had an opportunity to consult counsel regarding the Option terms), and
hereby accepts this Option and agrees to be bound by its contractual terms as
set forth herein and in the Plan.  Awardee hereby agrees to accept as
binding, conclusive and final all decisions and interpretations of the
Administrator regarding any questions relating to this Option.  In the
event of a conflict between the terms and provisions of the Plan and the terms
and provisions of this Agreement, the Plan terms and provisions shall
prevail.  This Agreement, including the Plan, constitutes the entire
agreement between Awardee and the Company on the subject matter hereof and
supersedes all proposals, written or oral, and all other communications between
the parties relating to such subject matter.

     

    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 and
conditions of the Puda Coal, Inc. 2008 Equity Incentive Plan, which is attached
and made a part of this Agreement.

    
      
         

      

      
        -3-

        
          

        

      

      
         

      

    

    In
addition, you agree and acknowledge that your rights to any Shares underlying
this Option will be earned only as you provide services to the Company over
time, that the grant of this Option is not as consideration for services you
rendered to the Company prior to your Vesting Commencement Date, and that
nothing in this Agreement or Plan confers upon you any right to continue your
employment or consulting relationship with the Company for any period of time,
nor does it interfere in any way with your right or the Company’s right to
terminate that relationship at any time, for any reason, with or without
cause.

     

    Capitalized
terms used but not defined in this Agreement have the meanings designated to
them in the Plan.

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                	
                                        AWARDEE:

                                      	 
      	
                                        PUDA
      COAL, INC.

                                      
	 
      	 
      	 
      
	 
      	 
      	
                                        By:

                                      	 
      
	
                                         

                                      	 
      	
                                        Name:

                                      	 
      
	 
      	 
      	
                                        Title:

                                      	 
      
	 
      	 
      	 
      
	
                                        Print
      Name

                                      	 
      	 
      

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

     

    
      
         

      

      
        -4-

        
          

        

      

      
         

      

    

    EXHIBIT
A

    

    NOTICE OF
EXERCISE

    

    
      	
              To:

            	
              Puda
      Coal, Inc.

            

    

    
      	
              Attn:

            	
              Plan
      Administrator

            

    

    
      	
              Subject:

            	
              Notice of Intention to
      Exercise Stock Option

            

    

    

    This is
official notice that the undersigned (“Awardee”) intends to
exercise Awardee’s Option to purchase __________ shares of Common Stock of Puda
Coal, Inc. under and pursuant to the Puda Coal, Inc. 2008 Equity Incentive Plan
and the Stock Option Agreement dated ___________, as follows:

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              	 
      	
                                      Grant
      Number:

                                    	 
      	 
	 	 	 	 
	 
      	
                                      Date
      of Purchase:

                                    	 
      	 
	 	 	 	 
	 
      	
                                      Number
      of Shares:

                                    	 
      	 
	 	 	 	 
	 
      	
                                      Purchase
      Price:

                                    	 
      	 
	 	 	 	 
	 
      	
                                      Method
      of Payment

                                    	 
      	 
	 
      	
                                      of
      Purchase Price:

                                    	 
      	 

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

     

    
      
        	 
      	
                Social
      Security No.:

              	 
      

      

    

     

    The
shares should be issued as follows:

     

    
      
        
          
            
              
                
                  
                    	 
      	
                            Name:

                          	 
      	 
	 
      	 
      	 
      	 
	 
      	
                            Address:

                          	 
      	 
	 
      	 
      	 
      	 
	 
      	 
      	 
      	 
	 
      	 
      	 
      	 
	 
      	 
      	 
      	 
	 
      	 
      	 
      	 
	 
      	
                            Signed:

                          	 
      	 
	 
      	 
      	 
      	 
	 
      	
                            Date:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00151-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00151-of-00352.parquet"}]]