Document:

EX-10.2

 Exhibit 10.2 

BANK OF THE OZARKS, INC. 

FORM OF 
 STOCK OPTION
PLAN 
 GRANT AGREEMENT 

WHEREAS,                 (hereinafter called the
“Participant”) is an executive officer or key employee of Bank of the Ozarks, Inc. (the “Company”) and/or its Subsidiaries; and 

WHEREAS, as part of its compensation programs, the Company has available for award to executive officers and key employees of the Company and
its Subsidiaries options to purchase shares of the Company’s Common Stock pursuant to the terms of Bank of the Ozarks, Inc. Stock Option Plan, as amended and restated effective May 18, 2015 (the “Plan”); and 

WHEREAS, the grant of this Option to the Participant and the execution of a Grant Agreement in the form hereof have been duly authorized by
the Compensation Committee of the Board of Directors of the Company, to become effective on the Date of Grant (as defined below); 
 NOW,
THEREFORE, effective as of the Date of Grant, the Company grants to the Participant an option pursuant to the Plan to purchase             shares of Common Stock (the “Option”) at
a price equal to $            per share, subject to adjustment in certain circumstances as provided below or pursuant to the Plan, and agrees to cause certificates, or, in the case of
uncertificated securities, notice of issuance, for any shares purchased hereunder to be delivered to the Participant upon payment of the aggregate Option Price in full, all subject, however, to the terms and conditions hereinafter set forth.
Capitalized terms used in this Agreement that are not otherwise defined in this Agreement are used as defined in the Plan. 
  

	 	1.	The “Date of Grant” is                     . 

 

	 	2.	This Option shall become exercisable and expire as to such of the shares herein above specified on the dates and in the amounts as follows: 

 

					
	 NUMBER OF SHARES
	  	VESTING DATE
(exercisable on or after)	  	EXPIRATION DATE
(expires if not
exercised on or before)
		  		  	

 Provided, that, the Participant has remained in continuous service from and after the Date of Grant as an employee of the
Company or one of its Subsidiaries, except as otherwise provided in this agreement or the Plan. To the extent exercisable, this Option may be exercised in whole or in part from time to time, subject to the time limitations set forth above and in
paragraph 4 below. 

 3. This Option shall be exercisable only upon payment to the Company of the aggregate Option
Price of the shares with respect to which the Option is exercised. The Option Price shall be payable in cash or by check acceptable to the Company. 

If permitted, in the sole judgment of the Company, under applicable securities and other laws, the requirement of payment in cash shall be
deemed satisfied if the Participant shall have made arrangements satisfactory to the Company with a broker who is a member of the National Association of Securities Dealers, Inc. to sell on the exercise date a sufficient number of the shares being
purchased so that the net proceeds of the sale transaction will at least equal the aggregate Option Price and pursuant to which the broker undertakes to deliver the aggregate Option Price to the Company not later than the date on which the sale
transaction will settle in the ordinary course of business. 
 Upon the prior consent of the Compensation Committee, this Grant Agreement
may be unilaterally amended by the Company to provide for the following additional forms of payment of the Option Price: (i) by the transfer to the Company of shares of Common Stock owned by the Participant for at least six months (or, with the
consent of the Compensation Committee, for less than six months) having an aggregate fair market value per share at the date of exercise equal to the aggregate Option Price, or (ii) by authorizing the Company to withhold a number of shares of
Common Stock otherwise issuable to the Participant having an aggregate fair market value per share on the date of exercise equal to the aggregate Option Price or (iii) by a combination of such methods of payment; provided, however, that the
payment methods described in clauses (i) — (iii) will not be available at any time that the Company is prohibited from purchasing or acquiring such shares of Common Stock. 

4. This Grant Agreement shall automatically expire on the earlier of (a) the respective expiration date as shown in paragraph 2 above
(the “Specified Term”) or (b) immediately following the lapsing of any of the following periods: 
 (i) If the Participant
terminates employment by reason of a Disability during the Specified Term, the Option shall be exercisable by the Participant only during the six months following such termination and only to the extent the Option was exercisable (in accordance with
paragraph 2 above) on the date of such termination, but in no event after the expiration of the Specified Term. 
 (ii) If the Participant
dies while an employee of the Company or one of its Subsidiaries during the Specified Term, the Option shall be exercisable by the proper duly qualified and empowered executor, administrator, legatee or distributee of the Participant’s estate
only during the twelve months following the Participant’s death and only to the extent the Option was exercisable (in accordance with paragraph 2 above) on the date of death of the Participant, but in no event after the expiration of the
Specified Term. 

  
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 (iii) If the Participant, following the Date of Grant, ceases to be an employee of the Company or
one of its Subsidiaries for any reason other than Disability or death, and the Option was exercisable (in accordance with paragraph 2 above) on the termination date, then the Option shall be exercisable by the Participant for thirty (30) days
following such termination, but in no event after the expiration of the Specified Term. If Participant ceases to be an employee of the Company or any of its Subsidiaries for any reason other than Disability or death, and the Option was not
exercisable (in accordance with paragraph 2 above) and had not vested as of the Participant’s termination date, then the Option shall be forfeited on the effective date of such termination. 

5. This Option is not transferable without (i) the prior written consent of the Compensation Committee, which consent may be withheld or
granted in the Compensation Committee’s sole judgment, and (ii) evidence satisfactory to the Compensation Committee that such transfer will be made in compliance with all federal and state securities laws. 

6. Adjustments shall be made in the Option Price and in the number or kind of shares of Common Stock or other securities covered by this
Option to the extent required to prevent dilution or enlargement of the rights of the Participant that otherwise would result from (a) any stock dividend, stock split, combination of shares, recapitalization or other change in the capital
structure of the Company, (b) any merger, consolidation, spin-off, reorganization, partial or complete liquidation or issuance of rights or warrants to purchase securities of the Company or (c) any other corporate transaction or event
having an effect similar to any of the foregoing and as contemplated in Section 6 of the Plan. Any fractional shares resulting from the foregoing adjustments will be eliminated. 

7. Upon each exercise of this Option, the Company as promptly as practicable shall mail or deliver to the Participant a stock certificate or,
in the case of uncertificated securities, notice of issuance, representing the shares then purchased, and shall pay all stamp taxes payable in connection therewith. The issuance of such shares and delivery of the certificate or, in the case of
uncertificated securities, notice of issuance, shall, however, be subject to any delay necessary to complete (a) the listing of such shares on any stock exchange upon which shares of the same class are then listed and (b) such registration
or qualification of such shares under any state or federal law, rule or regulation as the Company may determine to be necessary or advisable. 

8. Notwithstanding any other provisions to the contrary, in the event of a Change of Control (as defined in the Plan), the following will
apply with respect to the Option: 
 (a) If and to the extent the outstanding stock options under the Plan are assumed by any successor
corporation (or any affiliate thereof) of the Company or continued or are replaced with equity awards that preserve the existing value of the Options at the time of the Change of Control and provide for subsequent payout in accordance with a vesting
schedule that is the same or more favorable than the vesting schedule applicable to the Options, then all such Options or substitutes thereof will remain outstanding and governed by the terms and provisions of the Plan, except that if, within 24
months following a Change of Control, any Participant’s service with the Company (or successor company) is terminated by the Company for a reason other than gross negligence or deliberate misconduct which demonstrably harms the Company, or that
any such person shall have resigned for Good Reason (as defined in the Plan), then such Participant’s Options shall immediately vest and become exercisable. 

  
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 (b) If and to the extent the outstanding stock options under the Plan are not assumed by the
successor corporation (or any affiliate thereof) of the Company or continued or are replaced with equity awards that preserve the existing value of the Options at the time of the Change of Control (with a vesting and payout schedule that is the same
or more favorable than the vesting schedule applicable to the Options), then all such Options will vest and become exercisable immediately in connection with the Change of Control and the Compensation Committee may provide for the cancellation of
such Option in connection with the Change of Control in which case a payment of cash, property or combination thereof will be made to the Participant that is at least equal to the excess (if any) of the value of the consideration that would be
received in such Change of Control by the holders of the Company’s securities in relation to such Option over the exercise price for such Option. 

9. This Grant Agreement and any shares of Common Stock, cash or other property acquired in connection with this Grant Agreement will be
subject to the terms and conditions of any clawback or recoupment policy adopted by the Company, as may be in effect from time to time. 

10. The Company may, in its sole discretion, decide to deliver any documents related to Participant’s current or future participation in
the Plan by electronic means or to request Participant’s consent to participate in the Plan by electronic means. Participant hereby consents to receive such documents by electronic delivery and agrees to participate in the Plan through an
on-line or electronic system that may be established and maintained by the Company or a third party designated by the Company. 
 EXECUTED
effective as of the             day of                     . 

 

			
	BANK OF THE OZARKS, INC.
		
	 By:
		  

			 George G. Gleason, II

			 Chairman and Chief Executive Officer

 The undersigned Participant hereby acknowledges receipt of an executed original of this Grant Agreement
and accepts the option granted thereunder upon the terms and conditions set forth in the Grant Agreement and the Plan. 
  

	
	  

	Participant

  
 4EX-10.3

 Exhibit 10.3 

BANK OF THE OZARKS, INC. 

NON-EMPLOYEE DIRECTOR STOCK PLAN 

ARTICLE I. 
 DEFINITIONS

 1.1. Definitions. As used herein, the following terms shall have the meanings hereinafter set forth unless the context clearly
indicates to the contrary: 
  

	 	(a)	“Award” shall mean an award of Stock. 

  

	 	(b)	“Awardee” shall mean an Eligible Director to whom Stock has been awarded hereunder. 

  

	 	(c)	“Board” shall mean the Board of Directors of the Company. 

  

	 	(d)	“Committee” shall mean the administrative body provided for in Section 3.1. 

  

	 	(e)	“Company” shall mean Bank of the Ozarks, Inc. and any successor or assignee corporation(s) into which the Company may be merged, changed or consolidated; any corporation for whose securities the
securities of the Company shall be exchanged; and any assignee of or successor to substantially all of the assets of the Company. 

  

	 	(f)	“Eligible Director” shall mean a member of the Board of the Company who is not an employee of the Company or any of its Subsidiaries at the time of grant of an Award. 

 

	 	(g)	“Fair Market Value” for any given date means the reasonable value of the Stock as determined by the Board, in its sole discretion. If the Stock is listed on a securities exchange or traded over a
national market system, Fair Market Value means the average of the highest reported asked price and the lowest reported bid price reported on that exchange or market on the relevant date, or if there is no sale for the relevant date, then on the
last previous date on which a sale was reported. 

  

	 	(h)	“Plan” shall mean the Bank of the Ozarks, Inc. Non-Employee Director Stock Plan, as amended from time to time. 

  

	 	(i)	“Plan Effective Date” shall mean the latest to occur of (1) adoption by the Board, and (2) approval of this Plan by the shareholders of the Company, if required. 

 

	 	(j)	“Stock” shall mean shares of the Company’s common stock, par value $0.01 per share, or in the event that the outstanding shares of Stock are hereafter changed into or exchanged for shares of a
different stock or securities of the Company or some other corporation, such other stock or securities. 

	 	(k)	“Subsidiary” shall mean any corporation, the majority of the outstanding capital stock of which is owned, directly or indirectly, by the Company. 

ARTICLE II. 
 GENERAL

 2.1 Name. This Plan shall be known as the “Bank of the Ozarks, Inc. Non-Employee Director Stock Plan.” 

2.2. Purpose. The purpose of the Plan is to advance the interests of the Company and its shareholders by affording to Eligible
Directors of the Company an opportunity to acquire or increase their proprietary interest in the Company by the grant to such directors of Awards under the terms set forth herein. By encouraging non-employee directors to become owners of Company
shares, the Company seeks to increase their incentive for enhancing shareholder value and to motivate, retain and attract those highly competent individuals upon whose judgment, initiative, leadership and continued efforts the success of the Company
in large measure depends. 
 2.3 Eligibility. Any Eligible Director shall be eligible to participate in the Plan. 

ARTICLE III. 

ADMINISTRATION 
 3.1
Composition of Committee. The Plan shall be administered by the Personnel and Compensation Committee of the Board, and/or by the Board or another committee of the Board, as appointed from time to time by the Board (any such administrative
body, the “Committee”). 
 3.2 Duties and Powers of the Committee. Subject to the express provisions of this Plan,
the Committee shall be authorized and empowered to do all things necessary or desirable in connection with the administration of this Plan with respect to the Awards over which such Committee has authority, including, without limitation, the
following: 
  

	 	(a)	to prescribe, amend and rescind rules and regulations relating to this Plan and to define terms not otherwise defined herein; 

  

	 	(b)	to prescribe and amend the terms of the agreements or other documents evidencing Awards made under this Plan; 

  

	 	(c)	to determine whether, and the extent to which, adjustments are required pursuant to Section 6.1 hereof; 

  

	 	(d)	to interpret and construe this Plan, any rules and regulations under the Plan and the terms and conditions of any Award granted hereunder, and to make exceptions to any such provisions in good faith and for the benefit
of the Company; and 

	 	(e)	to make all other determinations deemed necessary or advisable for the administration of the Plan. 

3.3 Determinations of the Committee. All decisions, determinations and interpretations by the Committee or the Board regarding the Plan
shall be final and binding on all current or former directors of the Company and their beneficiaries, heirs, successors and assigns. The Committee or the Board, as applicable, shall consider such factors as it deems relevant, in its sole and
absolute discretion, to making such decisions, determinations and interpretations including, without limitation, the recommendations or advice of any officer of the Company or Eligible Director and such attorneys, consultants and accountants as it
may select. 
 3.4 Company Assistance. The Committee may designate certain officers of the Company, or any Subsidiary, to assist the
Committee in the administration of the Plan, and may grant authority to such persons to execute agreements evidencing Awards made under this Plan or other documents entered into under this Plan on behalf of the Committee or the Company. The Company
shall supply full and timely information to the Committee on all matters relating to Eligible Directors, their death, retirement, disability or removal or resignation from the Board and such other pertinent facts as the Committee may require. The
Company shall furnish the Committee with such clerical and other assistance as is necessary in the performance of its duties. 
 ARTICLE
IV. 
 STOCK AWARDS 

4.1 Limitations. Subject to adjustment pursuant to the provisions of Section 6.1 hereof, the aggregate number of shares of
Stock which may be issued as Awards shall not exceed 50,000. 
 4.2 Awards under the Plan. Upon election by the Company’s
shareholders at each annual meeting of shareholders, or any special shareholders meeting called for such purpose, each Eligible Director will receive an Award of a number of shares of Stock with a Fair Market Value on the grant date that is equal to
$25,000, rounded down to the nearest whole share. Each Eligible Director appointed as a member of the Board for the first time, other than upon election by the Company’s shareholders at an annual shareholders meeting (or any special
shareholders meeting called for such purpose), shall receive an Award, as the Board may determine in its discretion, of a number of shares of Stock with a Fair Market Value on the grant date in an amount not to exceed $25,000, rounded down to the
nearest whole share. The date of grant of any Award under the Plan shall be the date such Eligible Director is elected as a director by the Company’s shareholders or the date such Eligible Director is first appointed as a member of the Board,
as applicable. 
 4.3 Rights as Shareholder. Upon the issuance to the Awardee of Stock hereunder, the Awardee shall have all the
rights of a shareholder with respect to such Stock, including the right to vote the shares and receive all dividends and other distributions paid or made with respect thereto. 

 4.4 Stock Certificates. The Company shall not be required to deliver any certificate or,
in the case of uncertificated shares, a notice of issuance, for shares of Stock received as an Award hereunder, prior to fulfillment of all of the following conditions: 
  

	 	(a)	the admission of such shares to listing on all stock exchanges on which the Stock is then listed; 

  

	 	(b)	the completion of any registration or other qualification of such shares under any federal or state law or under the rulings or regulations of the Securities and Exchange Commission or any other governmental regulatory
body, which the Committee shall in its sole discretion deem necessary or advisable; and 

  

	 	(c)	the obtaining of any approval or other clearance from any federal or state governmental agency which the Committee shall in its sole discretion determine to be necessary or advisable. 

ARTICLE V. 
 TERMINATION,
AMENDMENT AND MODIFICATION OF PLAN 
 The Committee may at any time terminate, and may at any time and from time to time and in any
respect amend or modify, the Plan provided that, if under applicable laws or the rules of any securities exchange upon which the Company’s common stock is listed, the consent of the Company’s shareholders is required for such amendment or
modification, such amendment or modification shall not be effective until the Company obtains such consent, and provided, further, that no termination, amendment or modification of the Plan shall in any manner affect any Award theretofore granted
pursuant to the Plan without the consent of the Awardee. 
 ARTICLE VI. 

MISCELLANEOUS 
 6.1
Adjustment Provisions. Without limiting the Committee’s discretion as otherwise set forth in this Plan, if there shall occur any change in the capital structure of the Company by reason of any extraordinary dividend or other distribution
(whether in the form of cash, common stock, other securities or other property, and other than a normal cash dividend), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination,
repurchase or exchange of common stock or other securities of the Company, or other event having an effect similar to the foregoing, which affects the common stock, then the Committee shall, in an equitable and proportionate manner as determined by
the Committee, adjust the number of shares of common stock or other securities of the Company with respect to which Awards may be granted under the Plan under Section 4.1. 

6.2 Continuation of Board Service. Nothing in the Plan or in any instrument executed pursuant to the Plan will confer upon any Eligible
Director any right to continue to serve on the Board. 

 6.3 Compliance with Government Regulations. No shares of Stock will be issued hereunder
unless and until all applicable requirements imposed by federal and state securities and other laws, rules, and regulations and by any regulatory agencies having jurisdiction and by any stock exchanges upon which the Stock may be listed have been
fully met. As a condition precedent to the issuance of shares of Stock pursuant hereto, the Company may require the Eligible Director to take any reasonable action to comply with such requirements. 

6.4 Privileges of Stock Ownership. No director and no beneficiary or other person claiming under or through such person will have any
right, title, or interest in or to any shares of Stock allocated or reserved under the Plan or subject to any Award except as to such shares of Stock, if any, that have been issued to such director. 

6.5 Other Compensation Plans. The adoption of the Plan shall not affect any other stock option or incentive or other compensation plans
in effect for the Company or any Subsidiary, nor shall the Plan preclude the Company from establishing any other forms of incentive or other compensation for employees or directors of the Company or any Subsidiary. 

6.6 Plan Binding on Successors. The Plan shall be binding upon the successors and assigns of the Company. 

6.7 Singular, Plural; Gender. Whenever used herein, nouns in the singular shall include the plural, and the masculine pronoun shall
include the feminine gender. 
 6.8 Headings, etc., Not Part of Plan. Headings of Articles and Sections hereof are inserted for
convenience and reference; they constitute no part of the Plan. 
 6.9 Governing Law. This Plan and any Awards hereunder shall be
governed by and interpreted and construed in accordance with the laws of the State of Arkansas and applicable federal law. Any reference in this Plan or in the agreement evidencing any Award to a provision of law or to a rule or regulation shall be
deemed to include any successor law, rule or regulation of similar effect or applicability. 
 6.10 Termination of Plan. If not
previously terminated by the Committee or the Board pursuant to Article V, this Plan will terminate ten (10) years from the effective date.

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