Document:

EX-10.2

 

Exhibit 10.2

Incentive Stock Option Notice and Agreement

	 	 	 	 	 	 	 
	Bob Evans Farms, Inc.	 	Optionee: 	 	Option Number: 
	ID: 31-4421866

3776 South High Street

Columbus, OH 43207

	 	 	 	Plan:
	 	First Amended

and Restated 1998

Stock Option and

Incentive Plan
	 

	 	 	 	ID:
	 	 

Effective [___], you have been granted an incentive stock option to buy «SHARES» shares
of common stock, par value $0.01 per share, of Bob Evans Farms, Inc. (the “Company”) at
an exercise price of «PRICE» for each share.

The total exercise price for the shares subject to this Incentive Stock Option is
«VALUE».

This incentive stock option will vest and become exercisable over a period of three
years according to the following schedule:

	 	 	 
	Vesting Date	 	Number of Shares
	 

	 	 
	 

	 	 
	 

	 	 

	 	 	 	 	 
	 	 	BOB EVANS FARMS, INC.

	 

	 	By:	 	 
	 

	 	 	 	[Name]

[Title]

Date: [___]

This Incentive Stock Option Notice and Agreement is not a stock certificate or a negotiable
instrument. The stock option represented by this Incentive Stock Option Notice and Agreement is
non-transferable.

By your receipt of this Incentive Stock Option Notice and Agreement, you and the Company agree that
this incentive stock option is granted under and governed by the terms and conditions of the Bob
Evans Farms, Inc. First Amended and Restated 1998 Stock Option and Incentive Plan, including the
terms and conditions set forth on the reverse side of this Incentive Stock Option Notice and
Agreement.

Section 409A of the Internal Revenue Code (“Section 409A”) imposes substantial penalties on persons
who receive some forms of deferred compensation. Your incentive stock option has been designed to
avoid these penalties. However, because the Internal Revenue Service has not yet issued rules
fully defining the effect of Section 409A, it may be necessary to revise your Incentive Stock
Option Notice and Agreement if you are to avoid these penalties. By accepting this incentive stock
option, you agree to accept those revisions, without any further consideration, even if those
revisions change the terms of your incentive stock option and reduce its value or potential
value.

 

 

Bob Evans Farms, Inc.

First Amended and Restated

1998 Stock Option and Incentive Plan

Incentive Stock Option Notice and Agreement

We are pleased to inform you that you have been granted an incentive stock option (“Option”) to
purchase shares of common stock, par value $0.01, of Bob Evans Farms, Inc (“Shares”), (the
“Company”). Your Option has been awarded under the Bob Evans Farms, Inc. First Amended and
Restated 1998 Stock Option and Incentive Plan (the “Plan”), which, together with this Incentive
Stock Option Notice and Agreement (“Agreement”), sets forth the terms and conditions of this Option
and is incorporated by reference into this Agreement. A prospectus describing the Plan in more
detail has been delivered to you. Copies of the Plan and the prospectus are also available at our
Compensation Department. The Plan and the prospectus contain important information and we urge you
to review them carefully.

	 	 	 
	Option Information:
	 	 
	Optionee:

	 	 
	Grant Date:

	 	 
	Shares Subject to the Option:

	 	 
	Exercise Price:

	 	 
	Last Exercise Date:

	 	 

Vesting: You may not exercise this Option until the Option has vested. The Option will
vest and become exercisable according to the following schedule with respect to each installment of
Shares:

	 	 	 
	Vesting
Date

	 	Number of Shares
	 

	 	 
	 

	 	 
	 

	 	 

This vesting schedule may be affected if (1) you die, (2) you retire, (3) your employment with the
Company is terminated or (4) there is a change in control of the Company, as explained later in
this Agreement.

Option Term: You must exercise this Option before the Last Exercise Date, or an earlier
date if you die or retire, if your employment with the Company is terminated, or if there is a
change in control of the Company (as explained later this Agreement). After that time, this Option
will become null and void.

Exercise: Exercising this Option means that you exchange this Option for a number of
Shares by purchasing each Share that you wish to buy at the Exercise Price. You can only buy the
number of Shares as to which the Option has vested on the exercise date. For example, if you
receive an option to buy 200 Shares that vests in two annual installments of 100 Shares, you can
buy up to 100 Shares on or after the first vesting date. You cannot buy the remaining 100 Shares
until the second vesting date. The number of Shares you may purchase on any date cannot exceed the
total number of Shares as to which the Option is vested by that date, less any Shares you
previously acquired by exercising this Option.

To exercise this Option, you must deliver to the Company (1) a written notice that states the
number of Shares you wish to buy and (2) the Purchase Price. The “Purchase Price” is the Exercise
Price multiplied by the number of Shares you are buying. You may pay the Purchase Price in one of
the following ways:

(1) Cash: Deliver cash, a cashier’s check or a personal check to the Company in the amount
of the Purchase Price.

(2) Swap/Stock-for-Stock Exercise: Deliver to the Company Shares that you already own
which have a Fair Market Value equal to the Purchase Price. The “Fair Market Value” of the
Company’s Shares, on any given date, is the last reported sale price of the Shares on NASDAQ.

(3) Broker Assisted Exercise: Authorize a broker to sell some or all of the Shares to be
acquired through the exercise of the Option and instruct the broker to pay the Company the portion
of the sale proceeds equal to the Purchase Price (and any tax withholding) and to pay you any sale
proceeds remaining after paying the Purchase Price and the broker’s fee.

Tax Withholding: In the event that the Company determines that any federal, state or local
tax or withholding payment is required in connection with the exercise of this Option or sale of
the Shares you acquire through this Option, the Company has the right to require these payments
from you. The Company permits you to make these payments (1) in cash (including cash resulting
from a broker assisted exercise), (2) by having the Company withhold from the Shares you are to
receive upon exercise the number of Shares having a Fair Market Value equal to the payment due, or
(3) delivering to the Company Shares that you already own which have a Fair Market Value equal to
the payment due.

Exercise Following Retirement, Death, Disability, Termination of Employment or a Change in
Control of the Company:

Retirement (as defined in the Plan): If you retire, this Option will vest immediately and
become fully exercisable. You must exercise this Option by the Last Exercise Date or within 90
days after retirement, whichever is earlier. After 90 days, this Option will be converted into a
non-qualified stock option and will expire on the Last Exercise Date.

Death: If you die while employed by the Company, this Option will vest immediately and
become fully exercisable. The legal representative of your estate must exercise this Option by the
Last Exercise Date or within one year of the date of your death, whichever is earlier.

Disability: If your employment with the Company is terminated because you become disabled,
this Option will vest immediately and become fully exercisable. You must exercise this Option by
the Last Exercise Date or within one year of the date of your termination of employment, whichever
is earlier.

Termination of Employment: If you voluntarily terminate your employment with the Company,
the unvested portion of this Option will be cancelled. You must exercise the vested portion of
this Option by the Last Exercise Date or within 90 days following the date you notify the Company
of your intention to terminate your employment, whichever is earlier. If your employment with the
Company is terminated by the Company for “cause” (as defined in the Plan), this Option will be
cancelled immediately (both the vested and unvested portion).

Change in Control of the Company: This Option will vest immediately and become fully
exercisable if, within 36 months after a change in control of the Company, the Plan is terminated
and not replaced simultaneously with a similar program providing comparable benefits. A “change in
control” is defined in the Plan.

Restrictions on Transfer of Option: You may not assign, alienate, pledge, sell or
otherwise transfer this Option, and any purported transfer will be void and unenforceable against
the Company. Notwithstanding this prohibition, this Option may be transferred by will or by the
laws of descent and distribution. During your lifetime, this Option may be exercised only by you
or your guardian or legal representative.

Tax Consequences: This Option is intended to qualify as an “incentive stock option” under
Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”). This brief discussion
of the federal tax rules that affect this Option is provided as general information (not as
personal tax advice) and is based on the Company’s understanding of federal tax laws and
regulations in effect as of the Grant Date. You should consult with a tax or financial adviser to
ensure you fully understand the tax ramifications of your Option.

You will not be required to pay ordinary income taxes on the value of this Option when it is
issued, when it becomes exercisable or when you buy Shares by exercising this Option. Also, if you
comply with certain rules (discussed below), you will not have ordinary income when you sell the
Shares you purchased through this Option. Instead, capital gains taxes will apply, but only when
you sell the Shares you bought by exercising this Option. Also, these taxes will be applied only
to the difference between the price you paid for the Shares (i.e., the Exercise Price) and the
amount you receive when you sell the Shares. Because capital gains tax rates normally are lower
than ordinary income tax rates, this should minimize your total tax liability. However, this
favorable capital gains tax treatment is available only if you do not sell the Shares earlier than
two years after the Grant Date and one year after you exercise this Option. You may incur a tax
liability when you exercise this Option if you pay the Purchase Price by delivering already owned
Shares or using a broker assisted exercise.

If you do not comply with the rule just described, you must pay income tax, at ordinary income tax
rates, on the difference between the Exercise Price and the fair market value of the Shares on the
exercise date. Any additional gain (i.e., the difference between the fair market value of the
Shares on the exercise date and the amount you receive when you sell the Shares) would be taxed at
capital gains rates.

You also should know that this option is subject to an “alternative minimum tax,” which is a
special tax rate imposed on tax preference items. Generally, the alternative minimum tax structure
requires that you calculate your taxes, at a special rate, by including all items of tax
preference, including the difference between the Exercise Price and the value of the Shares you
purchase when you exercise this Option. This is done for the year in which you exercise this
Option. Then, you compare the tax calculated under the alternative minimum tax rates with the tax
you owe under the ordinary method of calculating your taxes for that year and pay the higher of the
two tax amounts. You may avoid application of the “alternative minimum tax” by making a special
election (known as a Code §83(b) election) within 30 days of the Grant Date. However, there are
important tax and investment issues that you must consider before making a Code §83(b) election
that you should discuss with your personal tax adviser.

Plan Controls: The Company has developed the Plan to encourage your continued effort and
commitment to the Company. The terms contained in the Plan are incorporated into and made a part
of this Agreement and this Agreement shall be governed by and construed in accordance with the
terms of the Plan. In the event of any actual or alleged conflict between the terms of the Plan
and terms of this Agreement, the terms of the Plan shall be controlling and determinative.

Options are an Investment: Deciding whether and when to exercise this Option is an
important investment decision. If the value of the Shares subject to this Option rises, you may
realize a gain. However, there is no guarantee that the value of the Shares will rise. If the
value does not rise or declines, you may lose all or some of your investment.

No Rights as a Stockholder: You shall not have any rights as a stockholder of the Company
with respect to any of the Shares subject to this Option until you exercise the Option and the
Company issues a certificate to you evidencing such Shares.

Section 16 Officers: If you are an executive officer of the Company subject to the
requirements of Section 16 of the Securities Exchange Act of 1934, as amended, you are responsible
for ensuring that all the requirements of Section 16 are met, including filing notices with the
Securities and Exchange Commission. Additionally, the methods by which you may exercise this
Option and your ability to sell the underlying shares may be subject to additional restrictions
under the federal securities laws, including Rule 144 under the Securities Act of 1933, as amended.

IRS CIRCULAR 230 DISCLOSURE: In order to ensure compliance with requirements imposed by the U.S.
Internal Revenue Service, we inform you that any federal tax advice contained in this communication
(including any attachments) is not intended or written to be used, and it cannot be used, by any
taxpayer for the purpose of (i) avoiding penalties that may be imposed under the U.S. Internal
Revenue Code or (ii) promoting, marketing, or recommending to another person, any transaction or
other matter addressed herein.EX-10.3

 

Exhibit 10.3

Restricted Stock Award Notice and Agreement

(Director)

	 	 	 	 	 	 	 
	Bob Evans Farms, Inc.	 	Optionee: 	 	Award Number: 
	ID: 31-4421866

3776 South High Street

Columbus, OH 43207

	 	 	 	Plan:
	 	First Amended

and Restated 1998

Stock Option and

Incentive Plan
	 

	 	 	 	ID:
	 	 

Effective «DATE_OF_GRANT», you have been granted a Restricted Stock Award consisting of
«M___shares» shares of common stock, par value $0.01 per share, of Bob Evans Farms, Inc.
(the “Company”). You will not receive the common stock subject to this Restricted Stock
Award unless and until the applicable vesting conditions are satisfied. These vesting
conditions and the other terms of this Restricted Stock Award are explained on the
reverse side of this document.

	 	 	 	 	 
	 	 	BOB EVANS FARMS, INC.

	 

	 	By:
	 	 
	 

	 	 	 	[Name]

[Title]

Date: 

This Restricted Stock Award Notice and Agreement is not a stock certificate or a negotiable
instrument. The stock subject to this Restricted Stock Award Notice and Agreement cannot be
transferred, pledged, assigned or otherwise encumbered until all applicable vesting conditions are
satisfied.

By your receipt of this Restricted Stock Award Notice and Agreement, you and the Company agree that
this Restricted Stock Award is granted under and governed by the terms and conditions of the Bob
Evans Farms, Inc. First Amended and Restated 1998 Stock Option and Incentive Plan, including the
terms and conditions set forth on the reverse side of this Restricted Stock Award Notice and
Agreement.

Section 409A of the Internal Revenue Code (“Section 409A”) imposes substantial penalties on persons
who receive some forms of deferred compensation. Your Restricted Stock Award has been designed to
avoid these penalties. However, because the Internal Revenue Service has not yet issued rules
fully defining the effect of Section 409A, it may be necessary to revise your Restricted Stock
Award Notice and Agreement if you are to avoid these penalties. By accepting this Restricted Stock
Award, you agree to accept those revisions, without any further consideration, even if those
revisions change the terms of your Restricted Stock Award and reduce its value or potential value.

 

 

Bob Evans Farms, Inc.

First Amended and Restated

1998 Stock Option and Incentive Plan

Restricted Stock Award Notice and Agreement

Bob Evans Farms, Inc. (the “Company”) is pleased to inform you that you have been granted a
“Restricted Stock Award.” Your Award has been awarded under the Bob Evans Farms, Inc. First
Amended and Restated 1998 Stock Option and Incentive Plan (the “Plan”), which, together with this
Restricted Stock Award Notice and Agreement (“Agreement”), sets forth the terms and conditions of
this Award and is incorporated by reference into this Agreement. Copies of the Plan and the
prospectus are also available at our Compensation Department. The Plan and the prospectus contain
important information and we urge you to review them carefully.

	 	 	 
	Award Information:
	 	 
	Grantee:

	 	 
	Grant Date:

	 	 
	Number of Shares of Restricted Stock Awarded:

	 	 

What is a Restricted Stock Award?

A Restricted Stock Award is a grant of shares of common stock, par value $0.01, of the Company
(“Shares”), but your right to receive the Shares is subject to transfer and other restrictions that
will lapse or “vest” upon the occurrence of certain events. We call the Shares subject to this
Restricted Stock Award “Restricted Stock.” Until the vesting requirements are satisfied, your
Restricted Stock will be credited to an account maintained for you by the Company. You will not
receive certificates for the Restricted Stock unless and until the vesting requirements are
satisfied.

Vesting:

Your Restricted Stock will vest on [___].

As soon as administratively feasible after the vesting date, you will be issued Shares equal in
number to the number of Shares of Restricted Stock then vesting.

Effect of a Change in Control of the Company: This Award will vest immediately if, within
36 months after a change in control of the Company, the Plan is terminated and not replaced
simultaneously with a similar program providing comparable benefits. A “change in control” is
defined in the Plan.

Restrictions on Transfer of Restricted Stock: You may not pledge, transfer, assign,
mortgage, sell or otherwise dispose or encumber any of the Shares subject to this Restricted Stock
Award until they are vested. Additionally, no interest in your Restricted Stock Award may be
subject to seizure for the payment of debts, judgments, alimony, or be reached or transferred in
the event you become bankrupt or insolvent until the Shares vest. Once the vesting requirements are
satisfied, the Company does not impose any restrictions on the resale of the Shares issued to you.
However, certain restrictions may be imposed by the federal securities laws on the resale of the
Shares you acquire under the Plan. See “Section 16 Officers and Affiliates” below.

Rights as a Stockholder: During the period in which your Restricted Stock has not vested,
you will have all of the rights of a stockholder of the Company with respect to the Restricted
Stock, including the right to vote the Restricted Stock and to receive cash dividends paid on the
Restricted Stock (any dividends paid in Shares will be held in the escrow account and distributed
when the Shares upon which they were paid are distributed). However, you will not be entitled to
receive dividends or vote on matters with record dates prior to the Grant Date.

Tax Consequences: This brief discussion of the federal tax rules that affect your
Restricted Stock Award is provided as general information (not as personal tax advice) and is based
on the Company’s understanding of federal tax laws and regulations in effect as of the date of this
Restricted Stock Award.

You should consult with a tax or financial adviser to ensure you fully understand the tax
ramifications of your Restricted Stock Award.

You will not be required to pay ordinary income taxes on the value of this Restricted Stock Award
when issued. However, you will be required to pay federal, state and local income, wage and
employment taxes when the vesting requirements are met. The amount taxed is the full Fair Market
Value (as defined in the Plan) of the Restricted Stock on the date the vesting requirements are
satisfied. When you sell the Shares you acquire through this Restricted Stock Award, the
difference between their Fair Market Value when sold and the Fair Market Value on the vesting date
will be taxed as a long term capital gain (or loss), if you sell the Shares more than one year
after the vesting date, or as a short term capital gain (or loss), if you sell the Shares one year
or less after the vesting date.

Plan Controls: The terms contained in the Plan are incorporated into and made a part of
this Agreement and this Agreement shall be governed by and construed in accordance with the terms
of the Plan. In the event of any actual or alleged conflict between the terms of the Plan and
terms of this Agreement, the terms of the Plan shall be controlling and determinative.

Section 16 Officers and Affiliates: Directors of the Company are subject to the
requirements of Section 16 of the Securities Exchange Act of 1934, as amended. You are responsible
for ensuring that all the requirements of Section 16 are met, including filing notices of your
receipt of this Restricted Stock Award with the Securities and Exchange Commission on a Form 4.
Additionally, certain restrictions are imposed by the federal securities laws on your ability to
sell or transfer Shares acquired under the Plan, including Rule 144 under the Securities Act of
1933, as amended.

IRS CIRCULAR 230 DISCLOSURE: In order to ensure compliance with requirements imposed by the U.S.
Internal Revenue Service, we inform you that any federal tax advice contained in this communication
(including any attachments) is not intended or written to be used, and it cannot be used, by any
taxpayer for the purpose of (i) avoiding penalties that may be imposed under the U.S. Internal
Revenue Code or (ii) promoting, marketing, or recommending to another person, any transaction or
other matter addressed herein.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00105-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00105-of-00352.parquet"}]]