Document:

Exhibit 10.168

 

Exhibit 10.168 This document constitutes
part of a prospectus covering securities that have been registered under the Securities Act of 1933.

 

Nonqualified
Stock Option Contract

 

THIS NONQUALIFIED
STOCK OPTION CONTRACT is entered into effective as of the ___ day of _____, 20__, by and between INTER PARFUMS, INC.,
a Delaware corporation (the “Company”) and _____________ (“Option
Holder”).

 

W I T N E S S E T H:

 

1.       The
Company, in accordance with the terms and subject to the conditions of the 2016 Stock Option Plan of Inter Parfums, Inc. (the “2016
Plan”) hereby grants to the Optionee as of the date hereinabove set forth, a nonqualified option to purchase an aggregate
of _____ shares (the “Shares”) of the common stock, $.001 par value per share, of the Company (the "Common Stock"),
at $_____ per share.

 

2.        Subject
to earlier termination as provided in the Plan, the term of this option shall be five (5) years from the date hereof; provided
that, such option shall vest and become exercisable to purchase shares of Common Stock as follows: 25% one year after the date
of grant, and then 25% on each of the second, third and fourth consecutive years from the date of grant on a cumulative basis,
so that each option shall become fully vested and exercisable on the first day of the fifth year from the date of grant.

 

3.       (a)Subject
to the provisions contained in Section 2 hereof, this option may be exercised from time to time in whole or in part prior to the
end of the term of the option (but not with respect to less than 100 Shares (unless less than 100 Shares remain to be purchased,
then such amount remaining), or fractional Shares), by giving written notice to the Company at its principal office, presently
551 Fifth Avenue, New York, New York 10176, stating that the Option Holder is exercising this option, specifying the number of
Shares purchased and accompanied by payment in full of the aggregate purchase price therefor (i) in cash or certified check or
(ii) with previously acquired shares of Common Stock or a combination of the foregoing if permitted in the sole discretion of the
Company’s Executive Compensation and Stock Option Committee (the “Committee”).

 

(b)In addition,
upon the exercise of this option, the Company may withhold cash and/or Shares to be issued with respect thereto, having an aggregate
fair market value equal to the amount which it determines is necessary to satisfy its obligation to withhold federal, state and
local income taxes or other taxes incurred by reason of such exercise. Alternatively, the Company may require the holder to pay
to the Company such amount, in cash, promptly upon demand. The Company shall not be required to issue any Shares pursuant to this
option until all required payments have been made.

 

4.        This
option is not transferable otherwise than by will or the laws of descent and distribution and may be exercised, during the lifetime
of the Optionee, only by the Optionee or his legal representatives.

 

5.        Nothing
in the Plan or herein shall confer upon the Optionee any right to continue in the employ of, or be associated with, the Company,
its Parent or any of its Subsidiaries, or interfere in any way with the right to employment or association of the Optionee with
the Company, its Parent or any of its Subsidiaries.

 

6.       The
Option Holder understands that the Shares have been registered for issuance to the Option Holder in Registration Statement No.
333-_____ under the Securities Act of 1933, as amended (the “Act”). Resale to the public by the Option Holder is to
be made under Rule 144 under the Act in accordance with the procedure for resale of “affiliate shares” in the absence
of a subsequent effective registration statement for the resale of the Shares. Notwithstanding registration under the Act, the
Option Holder understands that in accordance with the provisions of the Company’s Code of Business Conduct, (i) the Option
Holder must obtain permission from the Company’s Chief Financial Officer prior to any sale of the Shares; and (ii) the use
of material non-public information in connection with the sale of the Company’s shares (“Insider Trading”) or
the communication of such information to others who use it in trading the Company’s shares (“Tipping”) is strictly
prohibited.

 

     Page 1 of 2 Pages

     

    

Exhibit 10.168 This document constitutes
part of a prospectus covering securities that have been registered under the Securities Act of 1933.

 

7.       (a)The Option
Holder understands that the Company maintains its internet website at www.interparfumsinc.com which is linked to the SEC Edgar
database. The Option Holder can obtain through the Company’s website, free of charge, its annual reports on Form 10-K, quarterly
reports on Form 10-Q, current reports on Form 8-K, and amendments to those reports filed or furnished pursuant to Section 13(a)
or 15(d) of the Exchange as soon as reasonably practicable after the Company has electronically filed with or furnished them to
the SEC.

 

(b)In addition,
the Company will cause to be delivered to the Option Holder, upon request to the Company directed to either the Chief Financial
Officer or the Controller at the Company’s’ office as set forth in paragraph 3(a) above, either in writing or by telephone
(212.983.2640), without charge to the Option Holder, a copy of the documents incorporated by reference into the Registration Statement,
other than exhibits (unless such exhibits are specifically incorporated by reference into the Registration Statement).

 

8.       Notwithstanding
anything to the contrary, if at any time the Board of Directors or the Committee shall determine in its discretion that the listing
or qualification of the Shares on any securities exchange, with national securities association or under any applicable law, or
the consent or approval of any governmental regulatory body, is necessary or desirable as a condition of, or in connection with,
the granting of an option, or the issue of Shares thereunder, this option may not be exercised in whole or in part unless such
listing, qualification, consent or approval shall have been effected or obtained free of any conditions not acceptable to the Board
of Directors or the Committee.

 

9.       (a)The Company
and the Option Holder further agree that they will both be subject to and bound by all of the terms and conditions of the 2016
Plan, which is incorporated by reference herein and made a part hereof as if fully set forth herein.

 

(b)In the event
the Option Holder's employment by, or association with, the Company, its Parent or any of its Subsidiaries terminates, or in the
event of the death or disability of the Option Holder, the rights hereunder shall be governed by, and made subject to, the provisions
of the 2016 Plan.

 

(c)In the event
of a conflict between the terms of this Contract and the terms of the 2016 Plan, then in such event, the terms of 2016 Plan shall
govern.

 

(d)Except as
otherwise provided herein, all capitalized terms used herein shall have the same meaning ascribed to them in the 2016 Plan.

 

(e)The Option
Holder agrees that the Company may amend the 2016 Plan and the options granted to the Option Holder under the 2016 Plan, subject
to the limitations contained in the 2016 Plan.

 

10.       This
Contract shall be binding upon and inure to the benefit of any successor or assign of the Company and to any executor, administrator
or legal representative entitled by law to the Option Holder's right hereunder.

 

11.       This
Contract shall be governed by and construed in accordance with the laws of the State of New York, without regard to the principles
of conflicts of laws.

 

IN WITNESS WHEREOF,
the parties hereto have entered into this Contract effective as of the date first above written.

 

	 	INTER PARFUMS, INC.
	 	 	 
	 	By:	 
	 	 	[Name and Title]
	 	 	 
	 	 
	 	[Option Holder name]

 

     Page 2 of 2 PagesExhibit 4.2

 

STATEMENT OF RESOLUTION ESTABLISHING SERIES

OF

SERIES G PREFERRED STOCK

OF

MIDLAND STATES BANCORP, INC.

 

Pursuant to and in accordance with Section 6.10 of the Illinois Business Corporation Act of 1983, the undersigned corporation made the following statement:

 

ARTICLE 1

 

The name of the corporation is Midland States Bancorp, Inc. (the “Company”).

 

ARTICLE 2

 

That pursuant to the authority vested in the board of directors of the Company (the “Board”) in accordance with the provisions of the Articles of Incorporation of the Company (the “Articles”), the Board on January 26, 2017, adopted the following resolution creating a series of 209 shares of preferred stock designated as “Series G Preferred Stock”:

 

RESOLVED, that pursuant to the authority vested in the Board in accordance with the provisions of the Articles, a series of preferred stock of the Company is hereby created, such series to be known as Series G Preferred Stock, and that the designation and number of shares of such series, and the voting and other powers, preferences and relative, participating, optional or other rights of the shares of such series, and the qualifications, limitations and restrictions thereof are as follows:

 

1.                                      DESIGNATION AND AMOUNT.  The Board has designated 209 shares of the Company’s authorized and unissued preferred stock as “Series G Preferred Stock,” has authorized such shares for issuance (the “Series G Preferred Stock”) and has determined that no further shares of Series G Preferred Stock shall be issued.

 

2.                                      DIVIDENDS.

 

(a)                                 The holders of record of the then outstanding shares of Series G Preferred Stock shall be entitled to receive when, as and if declared by the Board out of any funds legally available therefor, cumulative dividends at the annual rate of $60.00 per share payable in four equal cash payments on the 20th day (or if not a business day, as defined below, on the next business day thereafter) of April, July, October and January commencing on the first of such date after the issuance of the Series G Preferred Stock, provided, however, that any such quarterly cash payment shall be prorated with respect to any shares of Series G Preferred Stock that were outstanding less than the total number of days in the calendar quarter immediately preceding any such payment date. The amount of any such prorated cash payment shall be computed on the basis of the actual number of days in any calendar quarter during which such shares of Series G Preferred Stock were outstanding. Each such dividend shall be payable to holders of record as they appear on the stock books of the Company on such record dates, not less than 10 and not more than 60 days preceding the dividend payment date, as shall be fixed by the Board. No dividends, other than those payable solely in the Company’s common stock, $0.01 par value (“Common Stock”), shall be paid during any fiscal year of the Company with respect to shares of Common Stock or any other security issued by the Company other than Fixed Rate Non-Voting Perpetual Non-Cumulative Preferred Stock, Series H (the “Series H Preferred Stock”) until dividends in the total amount of $60.00 per share on Series G Preferred Stock shall have been paid. Such dividends shall accrue on each share of Series G Preferred Stock from the date of issuance and from day to day thereafter, whether or not earned or declared. Notwithstanding the foregoing, such dividends shall be cumulative so that if such dividends in respect of any previous or current annual dividend period, at the annual rate specified above, shall not have been paid or declared and a sum sufficient for the payment thereof set apart, the deficiency for any prior year and the amount owed in the current year shall first be fully paid before any dividend or other distribution shall be paid on or declared and set apart for the shares of Common Stock. A “business day” shall be deemed to be any day when trading of securities occurs on the New York Stock Exchange.

 

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(b)                                 Unless full dividends on Series G Preferred Stock for all past dividend periods and the then current dividend period shall have been paid or declared and a sum sufficient for the payment thereof set apart: (i) no dividend whatsoever whether in cash, securities or other property (other than a dividend payable solely in shares of Common Stock) shall be paid or declared and set aside for payment, and no distribution shall be made, on any shares of Common Stock or other class of preferred stock authorized after the date hereof except for the Series H Preferred Stock; and (ii) no shares of Common Stock or other class of preferred stock authorized after the date hereof except the Series H Preferred Stock shall be purchased, redeemed or otherwise acquired by the Company and no funds shall be paid into or set aside or made available for a sinking fund for the purchase, redemption or other acquisition thereof without the approval of the holders of at least a majority of the then outstanding shares of Series G Preferred Stock.

 

(c)                                  The Company shall not permit any subsidiary of the Company to purchase or otherwise acquire for consideration any shares of stock of the Company unless the Company could, under Section 2(b), purchase or otherwise acquire such shares at such time and such manner.

 

3.                                      REDEMPTION.

 

(a)                                 Each issued and outstanding share of Series G Preferred Stock may be redeemed at the option of the holder or his or her estate for cash as set forth below at any time at a price of $1,000 per share, plus any accrued but unpaid dividends thereon whether or not declared, through the Redemption Date, as defined below (collectively, the “Redemption Price”).

 

(b)                                 Before any holder of shares of Series G Preferred Stock shall be entitled to redeem any such shares for cash, he shall surrender the certificate or certificates therefor, duly endorsed, at the office of the Company or of any transfer agent of Series G Preferred Stock or Common Stock, with a written notice that he elects to redeem the same and shall state therein the number of shares of Series G Preferred Stock being redeemed for cash and the name or names to whom such payment shall be made. The date the Company receives such surrendered certificates and written notice shall be deemed to be the Redemption Date. Thereupon the Redemption Price for such shares shall be payable to the order of the person whose name appears on such certificate or certificates as the owner thereof, and each surrendered certificate shall be cancelled and retired.

 

(c)                                  If on the Redemption Date the Redemption Price is paid, then the dividends with respect to the shares of Series G Preferred Stock redeemed shall cease to accrue after the Redemption Date.

 

(d)                                 Notwithstanding anything contained in this Section 3 to the contrary, the Company shall not be obligated to redeem for cash any shares of Series G Preferred Stock if such redemption would cause the Company to be in violation of any statute, rule, order, regulation or agreement to which the Company is a party relating to minimum capital requirements. The Company shall use its best efforts promptly to remedy any such violation if the same has the effect of preventing the redemption of any shares of Series G Preferred Stock, and shall promptly complete the redemption of shares after such violation has been cured.

 

4.                                      VOTING RIGHTS.

 

(a)                                 The holders of each share of Series G Preferred Stock shall not be entitled to vote, except: (i) as required by law; and (ii) to approve the authorization or issuance of any shares of any class or series of stock which ranks senior or on a parity with, the Series G Preferred Stock in respect of dividends and distributions upon the dissolution, liquidation or winding up of the Company.

 

(b)                                 Notwithstanding anything contained herein to the contrary, the holders of Series G Preferred Stock shall vote as a separate class when required by law and to approve the matters set forth in Section 4(a)(ii). In such circumstances, the affirmative vote of the holders of a majority (or such greater percentage as may be required by law or the Company’s articles of incorporation or bylaws) of the voting rights provided in this Section for the Series G Preferred Stock, voting separately as a class, shall be necessary to approve such proposed action by the holders of Series G Preferred Stock.

 

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5.                                      LIQUIDATION. Upon the dissolution, liquidation or winding up of the Company, whether voluntary or involuntary, the holders of shares of Series G Preferred Stock shall be entitled to receive out of the assets of the Company available for distribution to shareholders, the amount of $1,000 per share, plus any dividends whether or not declared or due which have accrued thereon through the date of such distribution, but which remain unpaid, before any payment or distribution shall be made on shares of Common Stock or any other securities issued by the Company, except that holders of shares of Series G Preferred Stock shall share pro rata in any such payment or distribution with the holders of Series H Preferred Stock. In the event the assets of the Company available for distribution to the holders of shares of Series G Preferred Stock upon any dissolution, liquidation or winding up of the Company shall be insufficient to pay in full all amounts to which such holders are entitled pursuant to this Section 5, then all of the assets of the Company to be distributed shall be distributed ratably to the holders of Series G Preferred Stock and Series H Preferred Stock. After the payment to the holders of the shares of Series G Preferred Stock of the full amounts provided for in this Section 5, the holders of shares of Series G Preferred Stock as such shall have no right or claim to any of the remaining assets of the Company.

 

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FURTHER RESOLVED, that the statements contained in the foregoing resolutions creating and designating the said issue of Series G Preferred Stock and fixing the number, powers, preferences and relative, optional, participating, and other special rights and the qualifications, limitations, restrictions, and other distinguishing characteristics thereof shall, upon the effective date of said series, be deemed to be included in and be a part of the articles of incorporation, as amended, of the Company pursuant to the provisions of the Illinois Business Corporation Act.

 

IN WITNESS WHEREOF, Midland States Bancorp, Inc. has caused this Statement of Resolution Establishing Series to be signed this [    ] day of [          ], 2017, by a duly authorized officer, who affirms, under penalties of perjury, that the facts stated herein are true.

 

	
MIDLAND STATES BANCORP, INC.
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
By:
    	
 
    	
 
    
	
Name:
    	
Douglas J. Tucker
    	
 
    
	
Title:
    	
Senior Vice President and Corporate Counsel
    	
 
    

 

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