Document:

Form of Nonqualifed Stock Option Agreement for Employees

 Exhibit 10.5 
 [Form for Employees] 
 COMPUCREDIT CORPORATION 
 NONQUALIFIED STOCK OPTION 
 COMMON
STOCK 
 (No Par Value) 
 STOCK OPTION
PLAN: CompuCredit Corporation 2008 Equity Incentive Plan 
 OPTION FOR THE PURCHASE OF:
                     Shares 
 EXERCISE PRICE PER
SHARE: $                     
 EFFECTIVE DATE OF
GRANT:                              ,         

 THIS OPTION AGREEMENT, made and entered into this          day of
            ,         , by and between COMPUCREDIT CORPORATION, a Georgia corporation (“CompuCredit”), and
                     (the “Grantee”); 
 W I T N E S S E T H: 
 WHEREAS, the CompuCredit Corporation 2008 Equity Incentive Plan (the
“Plan”) has been adopted by CompuCredit; and 
 WHEREAS, the Plan authorizes the Compensation Committee (“Committee”) to
cause CompuCredit to enter into a written agreement with the Grantee setting forth the form and the amount of any award and any conditions and restrictions of the award imposed by the Plan and this Agreement; and 
 WHEREAS, the Committee desires to make an award to the Grantee consisting of a Nonqualified Stock Option. 
 NOW, THEREFORE, in consideration of the mutual covenants contained herein, and other good and valuable consideration, including that provided under any
non-compete or similar agreement, the receipt and sufficiency of which are hereby acknowledged, CompuCredit and the Grantee hereby agree as follows: 
 1.
General Definitions. Any capitalized terms herein shall have the meaning set forth in the Plan, and, in addition, for purposes of this Option Agreement, each of the following terms, when used herein, shall have the meaning set forth below:

 (a) “Common Stock” shall mean the common stock of CompuCredit, no par value per share. 

 (b) “CompuCredit” shall mean CompuCredit Corporation. 
 (c) “Expiration Date” shall mean the date on which this Option expires pursuant to the provisions of paragraph 4 hereof. 
 (d) “Option” shall mean the option evidenced by this Option Agreement, which is intended to be a “nonqualified stock option.”

 (e) “Option Price” shall mean the purchase price of each share of Common Stock that may be purchased by the Grantee upon the
exercise of this Option, in whole or in part. The Option Price is set forth under “Exercise Price Per Share” on page 1 of this Option Agreement as adjusted from time to time in accordance with the provisions hereof. 
 (f) “Vesting Date” shall mean [the first, second and third anniversaries of the Date of Grant. At any time during the period of this Option
commencing with the first anniversary of the Effective Date of Grant, the Grantee may purchase up to 33 1/3% of the shares covered by this Option and may purchase additional increments of 33 1/3% of the Shares covered by this Option on the second
and third anniversaries of the Effective Date of Grant, so that this Option will be fully vested on the third anniversary of the Effective Date of Grant.] 
 2. Grant of Option. Upon the terms and subject to the conditions and limitations hereinafter set forth, the Grantee shall have the right, at any time after the Vesting Date and on or before the Expiration Date, to purchase the number
of shares of Common Stock set forth on page 1 of this Option Agreement and pursuant to the definition of Vesting Date, such number of shares and the Option Price being subject to adjustment in accordance with the provisions set forth below and in
accordance with the terms of the Plan. 
 3. Manner of Exercise. Subject to the terms, conditions, and limitations set forth herein, this Option may
be exercised in whole or in part at any time or from time to time after the Exercise Date and on or before the Expiration Date as to any part of the number of whole shares of Common Stock then vested pursuant to the definition of Vesting Date and
available under this Option. Such exercise shall be effective only if the Grantee duly executes and delivers to CompuCredit, at the principal executive office of CompuCredit or at such other address as CompuCredit may designate by notice in writing
to the Grantee, an option exercise form substantially the same as that attached hereto as Exhibit A, indicating the number of shares of Common Stock to be purchased and accompanied by payment of the Option Price and any withholding amounts
described below. Payment of the Option Price and any such withholding amounts may be made (i) in cash or its equivalent, (ii) by tendering previously acquired shares of Common Stock having a Fair Market Value, at the time of exercise,
equal to the total Option Price (provided that the shares tendered shall have been held by the Grantee for at least six months prior to their tender); or (iii) through a cashless exercise procedure, as permitted under the Federal Reserve
Board’s Regulation T, subject to applicable securities law restrictions and which the Committee determines to be consistent with the Plan’s purpose and applicable law. 
  

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 Upon any effective exercise of this Option, CompuCredit shall become obligated to issue a certificate or
certificates to the Grantee representing the number of shares of Common Stock so purchased. Notwithstanding the foregoing, no shares of Common Stock will be issued unless the Grantee (or his representative as the case may be) shall pay to
CompuCredit or any affiliate, as applicable, such amount as CompuCredit or any affiliate may advise it is required under applicable federal, state or local law to withhold and pay over to governmental taxing authorities by reason of the purchase of
such shares of Common Stock pursuant to this Option. No fractional shares will be issued. 
 4. Expiration of Option. This Option shall expire, shall
become null and void, and shall be of no further force and effect upon the earliest to occur of the following events: 
 (a) Two months after
the date of the Grantee’s resignation or other voluntary termination of his or her employment with CompuCredit or any of its affiliates (other than by reason of his or her death or “disability” within the meaning of
Section 22(e)(3) of the Code), but during such two month period the Option shall be exercisable only to the extent that it was exercisable as of the date of resignation or termination; 
 (b) Immediately upon the violation by the Grantee of a term or condition of any non-compete or similar such agreement entered into between the Grantee
and CompuCredit, regardless of whether such agreement otherwise is enforceable; 
 (c) Immediately upon the dismissal of the Grantee from his
employment with CompuCredit or any affiliate for Cause at any time (a transfer of the Grantee from CompuCredit to an Affiliate and vice versa shall not constitute a dismissal for these purposes); 
 (d) Two months after the date on which CompuCredit or any Affiliate terminates the Grantee’s employment for any reason other than Cause,
provided, however, that during such two month period the Option shall continue to vest in accordance with the vesting schedule set forth in the definition of Vesting Data; 
 (e) Six months after the date on which Grantee’s employment with CompuCredit or any Affiliate is terminated by reason of the Grantee’s death or
“disability” within the meaning of Section 22(e)(3) of the Code, but during such six month period the Option shall be exercisable only to the extent that it was exercisable as of the date of death or disability; or 
 (f) Five years from the Date of Grant. 
 5. Exercise
Subject to Compliance with Securities Laws. Notwithstanding the exercise of this Option, in whole or in part, in accordance with all other provisions of this Option, CompuCredit shall have no obligation to honor such exercise and to issue Common
Stock pursuant thereto unless (a) the Grantee furnishes CompuCredit an agreement in such form as the Committee may specify in which the Grantee (or any person acting on his behalf) represents that the Common Stock acquired by him upon exercise
are being acquired for investment and not with a view to the distribution thereof, or such other representations as may be required by the Committee in accordance with 

  

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the advice of legal counsel, unless the Committee shall have received advice from legal counsel that such representation is not required, and (b) such
exercise and the issuance of the Common Stock does not violate applicable securities law. 
 6. Adjustment of Option Price and Number of Shares That May
be Purchased Hereunder. The Option Price and the number of shares of Common Stock that may be purchased hereunder shall be subject to adjustment from time to time by the Committee in accordance with the terms of the Plan in the event of certain
changes in the Common Stock or certain corporate transactions affecting the number or value of the shares of Common Stock. 
 7. Notice of
Adjustments. Upon the occurrence of any adjustment of the Option Price, or any increase or decrease in the number of shares of Common Stock that may be purchased upon the exercise of this Option, then, and in each such case, CompuCredit, within
30 days thereafter, shall give written notice thereof to the Grantee at the address of the Grantee as shown on the books of CompuCredit, which notice shall state the Option Price as adjusted and the increased or decreased number of shares that may
be purchased upon the exercise of this Option, setting forth in reasonable detail the method of calculation of each. 
 8. Assignment. This Option may
not be transferred or assigned by the Grantee otherwise than by will or by the laws of descent and distribution and, during the lifetime of the Grantee, may be exercised, in whole or in part, only by the Grantee; provided, however, subject to
paragraph 4(e) hereof, in the event of the Grantee’s death or disability, this Option may be exercised by his or her personal representative, heirs or legatees. 
 9. No Right to Continued Employment. This Option does not confer upon the Grantee the right to continued employment with CompuCredit or any affiliate, nor shall it interfere with the right of CompuCredit or any
affiliate to terminate his or her employment at any time. 
 10. Miscellaneous. 
 (a) CompuCredit covenants that it will at all times reserve and keep available, solely for the purpose of issue upon the exercise of this Option, a
sufficient number of shares of Common Stock to permit the exercise of this Option in full. 
 (b) The terms of this Option shall be binding
upon and shall inure to the benefit of any successors or assigns of CompuCredit and of the Grantee. 
 (c) The Grantee shall not be entitled
to vote or to receive dividends with respect to any Common Stock that may be, but has not been, purchased under this Option and shall not be deemed to be a shareholder of CompuCredit with respect to any such Common Stock for any purpose. 

(d) This Option has been issued pursuant to the Plan and shall be subject to, and governed by, the terms and provisions thereof. The Grantee hereby
agrees to be bound by all the terms and provisions of the Plan. In the event of any conflict between the terms of the Plan and this Option Agreement, the provisions of the Plan shall govern. 
  

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 (e) This Option Agreement shall be governed by the laws of the State of Georgia. 
 IN WITNESS WHEREOF, CompuCredit and the Grantee have executed this Option Agreement as of the day and year first above written. 
  

			
	COMPUCREDIT CORPORATION
		
	By:	 	 
		
	Its:	 	 
	
	GRANTEE:
	
	 

  

 5Form of Restricted Stock Unit Agreement for Directors

 Exhibit 10.6 
 [Form for Directors] 
 COMPUCREDIT CORPORATION 
 RESTRICTED STOCK UNIT AGREEMENT 
 PLAN: CompuCredit
Corporation 2008 Equity Incentive Plan 
 NUMBER OF RESTRICTED STOCK UNITS:
                     
 EFFECTIVE DATE OF GRANT:
                         
 THIS RESTRICTED STOCK UNIT AGREEMENT, made and entered into this          day of             ,
20    , by and between COMPUCREDIT CORPORATION, a Georgia corporation (“CompuCredit”), and
                     (the “Grantee”); 
 W I T N E S S E T H: 
 WHEREAS, the CompuCredit Corporation 2008 Equity Incentive Plan (the
“Plan”) has been adopted by CompuCredit; and 
 WHEREAS, the Plan authorizes the Compensation Committee (“Committee”) to
cause CompuCredit to enter into a written agreement with the Grantee setting forth the form and the amount of any award and any conditions and restrictions of the award imposed by the Plan and this Agreement; and 
 WHEREAS, the Committee desires to make an award to the Grantee consisting of Restricted Stock Units. 
 NOW, THEREFORE, in consideration of the mutual covenants contained herein, and other good and valuable consideration, including that provided under any
non-compete or similar agreement, the receipt and sufficiency of which are hereby acknowledged, CompuCredit and the Grantee hereby agree as follows: 
 1.
General Definitions. Any capitalized terms herein shall have the meanings set forth in the Plan, and, in addition, for purposes of this Restricted Stock Unit Agreement, each of the following terms, when used herein, shall have the meanings
set forth below: 
 (a) “Common Stock” shall mean the common stock of CompuCredit, no par value per share. 
 (b) “CompuCredit” or “Company” shall mean CompuCredit Corporation. 
 (c) “Restricted Stock Units” or “RSUs” shall mean the number of Restricted Stock Units set forth on page 1 of this Restricted Stock
Unit Agreement. 

 (d) “Vesting Date” shall mean the date that all conditions and restrictions imposed upon the
Restricted Stock Units granted in accordance with this Restricted Stock Unit Agreement, including vesting pursuant to Section 3, are completely satisfied and the applicable Restricted Stock Units become vested, earned and payable. 

(e) “Disability” shall mean (i) a determination that the Grantee is disabled pursuant to the terms of any long-term disability
insurance policy which the Company has purchased and which covers Grantee; (ii) a reasonable determination by a reputable, independent, licensed medical doctor selected by the Company that, due to a mental or physical impairment or disability,
Grantee has been incapable or unable to fully perform the duties performed by him for the Company immediately prior to such disability for a period of at least 180 days in the aggregate (although not necessarily consecutively) within any consecutive
365 day period; or (iii) the entry of an order by a court of competent jurisdiction adjudicating Grantee incompetent to manage his person or property. 
 2. Grant of Units. Upon the terms and subject to the conditions and limitations hereinafter set forth, the Grantee has been awarded the Restricted Stock Units. Each Restricted Stock Unit corresponds to one share of the Common Stock
of the Company. Until the Vesting Date, the Restricted Stock Units represent an unsecured promise of the Company to deliver, and the right of the Grantee to receive, one share of Common Stock of the Company at the time and on the terms and
conditions set forth herein for each Restricted Stock Unit that becomes vested, earned and payable. As a holder of RSUs, the Grantee only has the rights of a general unsecured creditor of the Company. Upon the terms and subject to the conditions and
limitations herein set forth, the Grantee shall have the right to receive on the Vesting Date one share of the Common Stock of the Company for each Restricted Stock Unit that then becomes vested, earned and payable. Subject to Section 4, as
soon as administratively practicable after the Vesting Date, the shares of Common Stock shall be issued to the Grantee as unlegended shares of Common Stock. Any Restricted Stock Units that do not or cannot become vested, earned and payable pursuant
to Section 3 shall be forfeited to CompuCredit. 
 3. Vesting. Subject to the terms, conditions, and limitations set forth herein, the Restricted
Stock Units shall vest and become earned and payable in the following amounts on the following dates (which shall constitute Vesting Dates) provided that the Grantee is on the Board of Directors of CompuCredit (or one of its Affiliates) from the
date of grant through the applicable date: 
 _____________________________________ 
 _____________________________________ 
 _____________________________________ 
 In no event shall a fractional share of Common Stock be issued to Grantee. In the
event that Grantee would otherwise be entitled to a fractional share because of a term, condition or limitation set forth herein, the number of shares of Common Stock to be issued shall be rounded down to the nearest whole number and such fractional
share shall remain a Restricted Stock Unit, subject to all terms, conditions and limitations set forth herein. In addition, until the Vesting 

  

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Dates set forth above, and provided that the Grantee is on the Board of Directors of CompuCredit (or one of its Affiliates) at the time of a “Change in
Control,” any Restricted Stock Units that theretofore have not become vested, earned and payable shall immediately become vested, earned and payable upon a “Change in Control.” 
 Notwithstanding the foregoing, any Restricted Stock Units that theretofore have not become vested, earned and payable shall immediately become vested,
earned and payable upon the death or Disability of Grantee while serving on the Board of Directors of CompuCredit (or one of its Affiliates). 
 Upon issuance, the Grantee will be responsible for payment of all income and any other taxes in connection with the issuance of such shares of Common Stock. 
 4. Transfer Subject to Compliance with Securities Laws. Notwithstanding the vesting of any Restricted Stock Units and delivery of shares of Common Stock thereunder, Grantee shall not be entitled to transfer any
shares of Common Stock Grantee is issued except in compliance with applicable securities law. 
 5. No Right to Continued Service. The grant evidenced
hereby does not confer upon the Grantee the right to continued service or affiliation with CompuCredit or any Affiliate (including service on the Board of Directors of CompuCredit or any Affiliate), nor shall it interfere with the right of
CompuCredit or any Affiliate to terminate Grantee’s service or affiliation with CompuCredit or any Affiliate at any time. 
 6. Adjustment of RSUs.
The number of Restricted Stock Units that may become vested, earned and payable hereunder shall be subject to adjustment from time to time by the Committee in accordance with the terms of the Plan in the event of certain changes in the Common
Stock or certain corporate transactions affecting the number or value of the shares of Common Stock. 
 7. Miscellaneous. 
 (a) These Restricted Stock Units may not be transferred or assigned by the Grantee other than by will or the laws of descent and distribution, and,
during the lifetime of the Grantee, may become vested, earned and payable, in whole or in part, only with respect to the Grantee. 
 (b) The
terms of this Restricted Stock Unit Agreement shall be binding upon and shall inure to the benefit of any successors or assigns of CompuCredit and of the Grantee. 
 (c) The Grantee shall not be entitled to vote or to receive dividends with respect to any shares of Common Stock subject to any Restricted Stock Units until vesting of the Restricted Stock Units and issuance of the
certificate representing such shares of Common Stock. 
 (d) This grant has been made pursuant to the Plan and shall be subject to, and
governed by, the terms and provisions thereof. The Grantee hereby agrees to be bound by all the terms and 

  

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provisions of the Plan. In the event of any conflict between the terms of the Plan and this Restricted Stock Unit Agreement, the provisions of the Plan shall
govern. 
 (e) This Restricted Stock Unit Agreement shall be governed by the laws of the State of Georgia. 
 (f) CompuCredit covenants that it will at all times reserve and keep available, solely for purposes of issue upon vesting of these Restricted Stock
Units, a sufficient number of shares of Common Stock to permit issuance of the shares of Common Stock in full on vesting of the Restricted Stock Units. 
 IN WITNESS WHEREOF, CompuCredit and the Grantee have executed this Restricted Stock Unit Agreement as of the day and year first above written. 
  

			
	COMPUCREDIT CORPORATION
		
	By:	 	 
		
	Its:	 	Chief Executive Officer
	
	GRANTEE:
	
	 

  

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