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Exhibit 10.6  

 
 

CARDINAL FINANCIAL CORPORATION    
    
    2002 EQUITY COMPENSATION PLAN    
    
    (as amended and restated effective April 22, 2005)    
    

  

 
 

CARDINAL FINANCIAL CORPORATION
  2002 Equity Compensation Plan
  As Amended and Restated Effective April 22, 2005    
    

 
  Table of Contents    
    

	ARTICLE I DEFINITIONS	 	1
	 	1.01.	 	Administrator	 	1
	 	1.02.	 	Agreement	 	1
	 	1.03.	 	Award	 	1
	 	1.04.	 	Board	 	1
	 	1.05.	 	Change in Control	 	1
	 	1.06.	 	Change in Control Price	 	1
	 	1.07.	 	Code	 	1
	 	1.08.	 	Committee	 	2
	 	1.09.	 	Common Stock	 	2
	 	1.10.	 	Control Change Date	 	2
	 	1.11.	 	Corporation	 	2
	 	1.12.	 	Corresponding SAR	 	2
	 	1.13.	 	Exchange Act	 	2
	 	1.14.	 	Fair Market Value	 	2
	 	1.15.	 	Incentive Stock Option	 	2
	 	1.16.	 	Initial Value	 	2
	 	1.17.	 	Non-Qualified Stock Option	 	2
	 	1.18.	 	Option	 	2
	 	1.19.	 	Participant	 	3
	 	1.20.	 	Performance Shares	 	3
	 	1.21.	 	Plan	 	3
	 	1.22.	 	SAR	 	3
	 	1.23.	 	Stock Award	 	3
	 	1.24.	 	Stock Unit	 	3
	 	1.25.	 	Subsidiary	 	3
	
 ARTICLE II PURPOSES	
 	

4
	
 ARTICLE III ADMINISTRATION	
 	

5
	
 ARTICLE IV ELIGIBILITY	
 	

6
	
 ARTICLE V STOCK SUBJECT TO PLAN	
 	

7
	 	
 5.01.	
 	

Shares Issued	
 	

7
	 	5.02.	 	Aggregate Limit	 	7
	 	5.03.	 	Reallocation of Shares	 	7
	
 ARTICLE VI OPTIONS	
 	

8
	 	
 6.01.	
 	

Award	
 	

8
	 	6.02.	 	Option Price	 	8
	 	6.03.	 	Maximum Option Period	 	8
	 	6.04.	 	Nontransferability	 	8
	 	6.05.	 	Transferable Options	 	8
	 	6.06.	 	Employee Status	 	8
	 	6.07.	 	Exercise	 	9
	 	6.08.	 	Payment	 	9
	 	 	 	 	 

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	 	6.09.	 	Change in Control	 	9
	 	6.10.	 	Shareholder Rights	 	9
	 	6.11.	 	Disposition of Stock	 	9
	
 ARTICLE VII SARS	
 	

10
	 	
 7.01.	
 	

Award	
 	

10
	 	7.02.	 	Maximum SAR Period	 	10
	 	7.03.	 	Nontransferability	 	10
	 	7.04.	 	Transferable SARs	 	10
	 	7.05.	 	Exercise	 	10
	 	7.06.	 	Change in Control	 	11
	 	7.07.	 	Employee Status	 	11
	 	7.08.	 	Settlement	 	11
	 	7.09.	 	Shareholder Rights	 	11
	
 ARTICLE VIII STOCK AWARDS	
 	

12
	 	
 8.01.	
 	

Award	
 	

12
	 	8.02.	 	Vesting	 	12
	 	8.03.	 	Employee Status	 	12
	 	8.04.	 	Change in Control	 	12
	 	8.05.	 	Shareholder Rights	 	12
	
 ARTICLE IX PERFORMANCE SHARE AWARDS	
 	

13
	 	
 9.01.	
 	

Award	
 	

13
	 	9.02.	 	Earning the Award	 	13
	 	9.03.	 	Payment	 	13
	 	9.04.	 	Shareholder Rights	 	13
	 	9.05.	 	Nontransferability	 	13
	 	9.06.	 	Transferable Performance Shares	 	13
	 	9.07.	 	Employee Status	 	14
	 	9.08.	 	Change in Control	 	14
	
 ARTICLE X STOCK UNITS	
 	

15
	 	
 10.01.	
 	

Award	
 	

15
	 	10.02.	 	Earning the Award	 	15
	 	10.03.	 	Payment	 	15
	 	10.04.	 	Nontransferability	 	15
	 	10.05.	 	Shareholder Rights	 	15
	 	10.06.	 	Change in Control	 	15
	
 ARTICLE XI ADJUSTMENT UPON CHANGE IN COMMON STOCK	
 	

16
	
 ARTICLE XII COMPLIANCE WITH LAW AND APPROVAL OF REGULATORY BODIES	
 	

17
	
 ARTICLE XIII GENERAL PROVISIONS	
 	

18
	 	
 13.01.	
 	

Effect on Employment and Service	
 	

18
	 	13.02.	 	Unfunded Plan	 	18
	 	13.03.	 	Rules of Construction	 	18
	 	13.04.	 	Tax Withholding	 	18
	
 ARTICLE XIV AMENDMENT	
 	

19
	
 ARTICLE XV DURATION OF PLAN	
 	

20
	
 ARTICLE XVI EFFECTIVE DATE OF PLAN	
 	

21

ii

  

 
 

CARDINAL FINANCIAL CORPORATION
  2002 Equity Compensation Plan
  As Amended and Restated Effective April 22, 2005    
    

 
 

ARTICLE I
  DEFINITIONS    
    

1.01. Administrator  

        Administrator means the Committee and any delegate of the Committee that is appointed in accordance with Article III. Notwithstanding the preceding
sentence, "Administrator" means the Board on any date on which there is not a Committee. 

1.02. Agreement  

        Agreement means a written agreement (including any amendment or supplement thereto) between the Corporation and a Participant specifying the terms and conditions
of an Award granted to such Participant. 

1.03. Award  

        Award means an award of Performance Shares, a Stock Award, Stock Unit, Option or SAR granted to a Participant. 

1.04. Board  

        Board means the Board of Directors of the Corporation. 

1.05. Change in Control  

        Change in Control means a change in control of the Corporation of a nature that would be required to be reported (assuming such event has not been previously
reported) in response to Item 6(e) of Schedule 14A of Regulation 14A promulgated under the Exchange Act (or a successor provision thereto),  provided that, without limitation, a Change in
Control shall be deemed to have occurred at such time after May 29, 2002 as (i) any
"person", within the meaning of Section 14(d) of the Exchange Act, becomes the beneficial owner, directly or indirectly, of securities of the Corporation representing 50% or more of the
combined voting power of the Corporation's then outstanding securities, or (ii) during any period of two consecutive years, individuals who at the beginning of such period constitute the Board
of Directors cease for any reason to constitute at least a majority thereof unless the election or the nomination for election, by the Corporation's shareholders, of each new director was approved by
a vote of at least two-thirds of the directors then still in office who were directors at the beginning of the period. 

1.06. Change in Control Price  

        Change in Control Price means the higher of (i) the mean of the high and low trading prices for the Corporation's Common Stock on the Stock Exchange on the
date of determination of the Change in Control or (ii) the higher price per share actually paid for the Common Stock in connection with the Change in Control of the Corporation. 

1.07. Code  

        Code means the Internal Revenue Code of 1986, and any amendments thereto. 

1

 

1.08. Committee  

        Committee means the Compensation Committee of the Board. 

1.09. Common Stock  

        Common Stock means the common stock of the Corporation. 

1.10. Control Change Date  

        Control Change Date means the date on which a Change in Control occurs. If a Change in Control occurs on account of a series of transactions, the Control Change
Date is the date of the last of such transactions. 

1.11. Corporation  

        Corporation means Cardinal Financial Corporation. 

1.12. Corresponding SAR  

        Corresponding SAR means an SAR that is granted in relation to a particular Option and that can be exercised only upon the surrender to the Corporation,
unexercised, of that portion of the Option to which the SAR relates. 

1.13. Exchange Act  

        Exchange Act means the Securities Exchange Act of 1934, as amended from time to time. 

1.14. Fair Market Value  

        Fair Market Value means, on any given date, the reported "closing" price of a share of Common Stock on the NASDAQ National Market System or the Principal Stock
Exchange on which the Common Stock is traded, or if the Common Stock was not so traded on such day, then on the next preceding day that the Common Stock was so traded. 

1.15. Incentive Stock Option  

        Incentive Stock Option means an Option which qualifies and is intended to qualify as an Incentive Stock Option under Section 422 of the Code. 

1.16. Initial Value  

        Initial Value means, with respect to a Corresponding SAR, the Option price per share of the related Option and, with respect to an SAR granted independently of an
Option, the price per share of Common Stock as determined by the Administrator on the date of the grant; provided, however, that the price per share of Common Stock encompassed by the grant of an SAR
shall not be less than the Fair Market Value on the date of grant. 

1.17. Non-Qualified Stock Option  

        Non-Qualified Stock Option means an Option other than an Incentive Stock Option. 

1.18. Option  

        Option means a stock option that entitles the holder to purchase from the Corporation a stated number of shares of Common Stock at the price set forth in an
Agreement. 

2

 

1.19. Participant  

        Participant means a key employee of the Corporation or a Subsidiary or a member of the Board or the board of directors of a Subsidiary or a consultant to the
Corporation or a Subsidiary who satisfies the requirements of Article IV and is selected by the Administrator to receive an Award. 

1.20. Performance Shares  

        Performance Shares means an Award, in the amount determined by the Administrator and specified in an Agreement, stated with reference to a specified number of
shares of Common Stock, that entitles the holder to receive a payment for each specified share equal to the Fair Market Value of Common Stock on the date of payment. 

1.21. Plan  

        Plan means the Cardinal Financial Corporation 2002 Equity Compensation Plan. 

1.22. SAR  

        SAR means a stock appreciation right that entitles the holder to receive, with respect to each share of Common Stock encompassed by the exercise of such SAR, the
excess, if any, of the Fair Market Value at the time of exercise over the Initial Value. References to "SARs" include both Corresponding SARs and SARs granted independently of Options, unless the
context requires otherwise. 

1.23. Stock Award  

        Stock Award means Common Stock awarded to a Participant under Article VIII. 

1.24. Stock Unit  

        Stock Unit means an Award, in an amount determined by the Administrator and specified in an Agreement, stated with reference to a specified number of shares of
Common Stock, that entitled the holder to receive a payment for each Stock Unit equal to the Fair Market Value of a share of Common Stock on the date of payment. 

1.25. Subsidiary  

        Subsidiary means a Corporation or other business entity that the Corporation directly or indirectly, through one or more intermediaries, controls fifty percent
(50%) or more of the voting equity of such corporation. 

3

 
 
 

ARTICLE II
  PURPOSES    
    

        The Plan is intended to assist the Corporation and Subsidiaries in recruiting and retaining individuals with ability and initiative by enabling such persons to
participate in the future success of the Corporation and its Subsidiaries and to associate their interests with those of the Corporation and its shareholders. The Plan is intended to permit the grant
of Incentive Stock Options and Non-Qualified Stock Options, and the grant of SARs, Stock Awards, Stock Units and Performance Shares. No Option that is intended to be an Incentive Stock
Option shall be invalid for failure to qualify as an Incentive Stock Option. The proceeds received by the Corporation from the sale of Common Stock pursuant to this Plan shall be used for general
corporate purposes. 

4

 
 
 

ARTICLE III
  ADMINISTRATION    
    

        The Plan shall be administered by the Administrator. The Administrator shall have authority to grant Awards upon such terms (not inconsistent with the provisions
of this Plan), as the Administrator may consider appropriate. Such terms may include conditions (in addition to those contained in this Plan) on the exercisability of all or any part of an Option or
SAR or on the transferability or forfeitability of a Stock Award or an award of Performance Shares or Stock Units, including by way of example and not of limitation, requirements that the Participant
complete a specified period of employment or service with the Corporation or a Subsidiary, requirements that the Corporation achieve a specified level of financial performance or that the Corporation
achieve a specified level of financial return. Notwithstanding any such conditions, the Administrator may, in its discretion, accelerate the time at which any Option or SAR may be exercised, or the
time at which a Stock Award may become transferable or nonforfeitable or both, or the time at which an award of Performance Shares or Stock Units may be settled. In addition, the Administrator shall
have complete authority to interpret all provisions of this Plan; to prescribe the form of Agreements; to adopt, amend, and rescind rules and regulations pertaining to the administration of the Plan;
and to make all other determinations necessary or advisable for the administration of this Plan. The express grant in the Plan of any specific power to the Administrator shall not be construed as
limiting any power or authority of the Administrator. Any decision made, or action taken, by the Administrator in connection with the administration of this Plan shall be final and conclusive. Neither
the Administrator nor any member of the Committee shall be liable for any act done in good faith with respect to this Plan or any Agreement or Award. All expenses of administering this Plan shall be
borne by the Corporation, a Subsidiary or a combination thereof. 

        The
Committee, in its discretion, may delegate to one or more officers of the Corporation all or part of the Committee's authority and duties with respect to grants and awards to
individuals who are not subject to the reporting and other provisions of Section 16 of the Exchange Act. The Committee may revoke or amend the terms of a delegation at any time but such action
shall not invalidate any prior actions of the Committee's delegate or delegates that were consistent with the terms of the Plan. 

5

 
 
 

ARTICLE IV
  ELIGIBILITY    
    

        Any key employee of the Corporation, any member of the Board, any employee or director of a Subsidiary (including a corporation that becomes a Subsidiary after
the adoption of this Plan), or any consultant or advisor to the Company or a Subsidiary is eligible to participate in this Plan if the Administrator, in its sole discretion, determines that such
person has contributed or can be expected to contribute to the profits or growth of the Corporation or a Subsidiary. 

6

 
 
 

ARTICLE V
  STOCK SUBJECT TO PLAN    
    

5.01. Shares Issued  

        Upon the award of shares of Common Stock pursuant to a Stock Award or in settlement of an award of Stock Units or Performance Shares, the Corporation may issue
shares of Common Stock from its authorized but unissued Common Stock. Upon the exercise of any Option or SAR the Corporation may deliver to the Participant (or the Participant's broker if the
Participant so directs), shares of Common Stock from its authorized but unissued Common Stock. 

5.02. Aggregate Limit  

        The maximum aggregate number of shares of Common Stock that may be issued under this Plan, pursuant to the exercise of SARs and Options, the grant of Stock Awards
and the settlement of Performance Shares or Stock Units is 1,970,000 shares. The maximum aggregate number of Shares that may be issued under this Plan as Options is 1,970,000. The maximum aggregate
number of shares that may be issued under this Plan and the maximum number of shares that may be issued pursuant to the exercise of Options shall be subject to adjustment as provided in
Article XI. 

5.03. Reallocation of Shares  

        If an Option is terminated, in whole or in part, for any reason other than its exercise or the exercise of a Corresponding SAR, the number of shares of Common
Stock allocated to the Option or portion thereof may be reallocated to other Awards to be granted under this Plan. If an SAR is terminated, in whole or in part, for any reason other than its exercise
or the exercise of a related Option, the number of shares of Common Stock allocated to the SAR or portion thereof may be reallocated to other Awards to be granted under this Plan. If Stock Unit or an
award of Performance Shares is terminated, in whole or in part, the number of shares of Common Stock allocated to the Stock Unit or Performance Shares, or portion thereof, may be reallocated to other
Awards to be granted under this Plan. If a Stock Award is forfeited or terminated, in whole or in part, for any reason, the number of shares of Common Stock allocated to the Stock Award or portion
thereof may be reallocated to other Awards to be granted under this Plan. If shares of Common Stock are surrendered or withheld in satisfaction of tax withholding requirements the number of shares
surrendered or withheld may be reallocated to other Awards to be granted under this Plan. 

7

 
 
 

ARTICLE VI
  OPTIONS    
    

6.01. Award  

        In accordance with the provisions of Article IV, the Administrator will designate each individual to whom an Option is to be granted and will specify the
number of shares of Common Stock covered by each such award. 

6.02. Option Price  

        The price per share for Common Stock purchased on the exercise of an Option shall be determined by the Administrator on the date of grant, but shall not be less
than the Fair Market Value on the date the Option is granted. Except for an adjustment authorized under Article XII, the Option price may not be reduced (by amendment or cancellation of the
Option or otherwise) after the date of grant. 

6.03. Maximum Option Period  

        The maximum period in which an Option may be exercised shall be ten years from the date such Option was granted. The terms of any Option may provide that it has a
term that is less than such maximum period. 

6.04. Nontransferability  

        Except as provided in Section 6.05, each Option granted under this Plan shall be nontransferable except by will or by the laws of descent and distribution.
In the event of any transfer of an Option (by the Participant or his transferee), the Option and any Corresponding SAR that relates to such Option must be transferred to the same person or persons or
entity or entities. Except as provided in Section 6.05, during the lifetime of the Participant to whom the Option is granted, the Option may be exercised only by the Participant. No right or
interest of a Participant in any Option shall be liable for, or subject to, any lien, obligation, or liability of such Participant. 

6.05. Transferable Options  

        Section 6.04 to the contrary notwithstanding, and if the Agreement provides, a Non-Qualified Stock Option may be transferred by a Participant
to the Participant's children, grandchildren, spouse, one or more trusts for the benefit of such family members or a partnership in which such family members are the only partners, on such terms and
conditions as may be permitted under Securities Exchange Commission Rule 16b-3 as in effect from time to time. The holder of an Option transferred pursuant to this section shall be
bound by the same terms and conditions that governed the Option during the period that it was held by the Participant; provided, however, that such transferee may not transfer the Option except by
will or the laws of descent and distribution. In the event of any transfer of an Option (by the Participant or his transferee), the Option and any Corresponding SAR that relates to such Option must be
transferred to the same person or persons or entity or entities. 

6.06. Employee Status  

        For purposes of determining the applicability of Section 422 of the Code (relating to Incentive Stock Options), or in the event that the terms of any
Option provide that it may be exercised only during employment or continued service or within a specified period of time after termination of employment or service, the Administrator may decide to
what extent leaves of absence for governmental or military service, illness, temporary disability, or other reasons shall not be deemed interruptions of continuous employment or service. 

8

 

6.07. Exercise  

        Subject to the provisions of this Plan and the applicable Agreement, an Option may be exercised in whole at any time or in part from time to time at such times
and in compliance with such requirements as the Administrator shall determine; provided, however, that Incentive Stock Options (granted under the Plan and all plans of the Corporation and its Related
Entities) may not be first exercisable in a calendar year for stock having a Fair Market Value (determined as of the date an Option is granted) exceeding the limit prescribed by Section 422(d)
of the Code. An Option granted under this Plan may be exercised with respect to any number of whole shares less than the full number for which the Option could be exercised. A partial exercise of an
Option shall not affect the right to exercise the Option from time to time in accordance with this Plan and the applicable Agreement with respect to the remaining shares subject to the Option. The
exercise of an Option shall result in the termination of any Corresponding SAR to the extent of the number of shares with respect to which the Option is exercised. 

6.08. Payment  

        Unless otherwise provided by the Agreement, payment of the Option price shall be made in cash or a cash equivalent acceptable to the Administrator. Subject to
rules established by the Administrator, payment of all or part of the Option price may be made with shares of Common Stock which have been owned by the Participant for at least six months and which
have not been used for another Option exercise during the prior six months. If Common Stock is used to pay all or part of the Option price, the sum of the cash and cash equivalent and the Fair Market
Value (determined as of the day preceding the date of exercise) of the shares surrendered must not be less than the Option price of the shares for which the Option is being exercised. 

6.09. Change in Control  

        Section 6.07 to the contrary notwithstanding, each outstanding Option shall be fully exercisable (in whole or in part at the discretion of the holder) upon
a Change in Control and in the discretion of the Committee, (i) the Options shall be assumed, or an equivalent option substituted, by any successor corporation to the Corporation, or
(ii) the Corporation shall make provisions for the Participant to exercise the Options for a minimum of ten (10) days prior to the Change in Control as to all shares subject to the
Options. An Option that becomes exercisable pursuant to this Section 6.09 shall remain exercisable thereafter in accordance with the terms of the Agreement. 

6.10. Shareholder Rights  

        No Participant shall have any rights as a shareholder with respect to shares subject to his Option until the date of exercise of such Option. 

6.11. Disposition of Stock  

        A Participant shall notify the Corporation of any sale or other disposition of Common Stock acquired pursuant to an Option that was an Incentive Stock Option if
such sale or disposition occurs (i) within two years of the grant of an Option or (ii) within one year of the issuance of the Common Stock to the Participant. Such notice shall be in
writing and directed to the Secretary of the Corporation. 

9

 
 
 

ARTICLE VII
  SARS    
    

7.01. Award  

        In accordance with the provisions of Article IV, the Administrator will designate each individual to whom SARs are to be granted and will specify the
number of shares covered by each such award. No Participant may be granted Corresponding SARs (under all Incentive Stock Option plans of the Corporation and its Affiliates) that are related to
Incentive Stock Options which are first exercisable in any calendar year for stock having an aggregate Fair Market Value (determined as of the date the related Option is granted) that exceeds the
limit prescribed by Section 422(d) of the Code. 

7.02. Maximum SAR Period  

        The maximum period in which an SAR may be exercised shall be ten years from the date such SAR was granted. The terms of any SAR may provide that it has a term
that is less than such maximum period. 

7.03. Nontransferability  

        Except as provided in Section 7.04, each SAR granted under this Plan shall be nontransferable except by will or by the laws of descent and distribution. In
the event of any such transfer, a Corresponding SAR and the related Option must be transferred to the same person or persons or entity or entities. Except as provided in Section 7.04, during
the lifetime of the Participant to whom the SAR is granted, the SAR may be exercised only by the Participant. No right or interest of a Participant in any SAR shall be liable for, or subject to, any
lien, obligation, or liability of such Participant. 

7.04. Transferable SARs  

        Section 7.03 to the contrary notwithstanding, if the Agreement provides, an SAR, other than a Corresponding SAR that is related to an Incentive Stock
Option, may be transferred by a Participant to the Participant's children, grandchildren, spouse, one or more trusts for the benefit of such family members or a partnership in which such family
members are the only partners, on such terms and conditions as may be permitted under Securities Exchange Commission Rule 16b-3 as in effect from time to time. The holder of an SAR
transferred pursuant to this section shall be bound by the same terms and conditions that governed the SAR during the period that it was held by the Participant; provided, however, that such
transferee may not transfer the SAR except by will or the laws of descent and distribution. In the event of any transfer of a Corresponding SAR (by the Participant or his transferee), the
Corresponding SAR and the related Option must be transferred to the same person or person or entity or entities. 

7.05. Exercise  

        Subject to the provisions of this Plan and the applicable Agreement, an SAR may be exercised in whole at any time or in part from time to time at such times and
in compliance with such requirements as the Administrator shall determine; provided, however, that a Corresponding SAR that is related to an Incentive Stock Option may be exercised only to the extent
that the related Option is exercisable and only when the Fair Market Value exceeds the option price of the related Option. An SAR granted under this Plan may be exercised with respect to any number of
whole shares less than the full number for which the SAR could be exercised. A partial exercise of an SAR shall not affect the right to exercise the SAR from time to time in accordance with this Plan
and the applicable Agreement with respect to the remaining shares subject to the SAR. The exercise of a Corresponding SAR shall result in the termination of the related Option to the extent of the
number of shares with respect to which the SAR is exercised. 

10

 

7.06. Change in Control  

        Section 7.05 to the contrary notwithstanding, each outstanding SAR shall be fully exercisable (in whole or in part at the discretion of the holder) upon a
Change in Control and (i) the Corporation shall make payment to Participants with respect to SARs in cash in an amount equal to the appreciation in value of the SAR from the Initial Value to
the price as of the date of the Change in Control; (ii) such cash payments to Participants shall be due and payable, and shall be paid by the Corporation, immediately
upon the occurrence of such Change in Control; and (iii) after the payment provided for in (ii) above, Participants shall have no further rights under SARs outstanding at the time of
such Change in Control. 

7.07. Employee Status  

        If the terms of any SAR provide that it may be exercised only during employment or continued service or within a specified period of time after termination of
employment or service, the Administrator may decide to what extent leaves of absence for governmental or military service, illness, temporary disability or other reasons shall not be deemed
interruptions of continuous employment or service. 

7.08. Settlement  

        At the Administrator's discretion, the amount payable as a result of the exercise of an SAR may be settled in cash, Common Stock, or a combination of cash and
Common Stock. No fractional share will be deliverable upon the exercise of an SAR but a cash payment will be made in lieu thereof. 

7.09. Shareholder Rights  

        No Participant shall, as a result of receiving an SAR, have any rights as a shareholder of the Corporation until the date that the SAR is exercised and then only
to the extent that the SAR is settled by the issuance of Common Stock. 

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ARTICLE VIII
  STOCK AWARDS    
    

8.01. Award  

        In accordance with the provisions of Article IV, the Administrator will designate each individual to whom a Stock Award is to be made and will specify the
number of shares of Common Stock covered by each such award. 

8.02. Vesting  

        The Administrator, on the date of the award, may prescribe that a Participant's rights in a Stock Award shall be forfeitable or otherwise restricted for a period
of time or subject to such conditions as may be set forth in the Agreement. By way of example and not of limitation, the restrictions may postpone transferability of the shares or may provide that the
shares will be forfeited if the Participant separates from the service of the Corporation and its Subsidiaries before the expiration of a stated period or if the Corporation, a Subsidiary, the
Corporation and its Subsidiaries or the Participant fails to achieve stated performance objectives. The Administrator, in its discretion, may waive the requirements for vesting or transferability for
all or part of the shares subject to a Stock Award in connection with a Participant's termination of employment or service. 

8.03. Employee Status  

        In the event that the terms of any Stock Award provide that shares may become transferable and nonforfeitable thereunder only after completion of a specified
period of employment or service, the Administrator may decide in each case to what extent leaves of absence for governmental or military service, illness, temporary disability, or other reasons shall
not be deemed interruptions of continuous employment or service. 

8.04. Change in Control  

        Sections 8.02 and 8.03 to the contrary notwithstanding, each outstanding Stock Award shall be transferable and nonforfeitable upon a Change in Control, except
that if, upon the advice of counsel to the Corporation, shares of Common Stock cannot lawfully be issued without restriction, then the Corporation shall make payment to Participants in cash in an
amount equal to the Change in Control Price of the Common Stock that otherwise would have been issued; and (i) such cash payments to Participants shall be due and payable, and shall be paid by
the Corporation, immediately upon the occurrence of such Change in Control; and (ii) after the payment provided for in (i) above, Participants
shall have no further rights under Stock Awards outstanding at the time of such Change in Control of the Corporation. 

8.05. Shareholder Rights  

        Prior to their forfeiture (in accordance with the applicable Agreement and while the shares of Common Stock granted pursuant to the Stock Award may be forfeited
or are nontransferable), and if the Agreement so provides, a Participant will have all the rights of a shareholder with respect to a Stock Award, including the right to receive dividends and vote the
shares; provided, however, that during such period (i) a Participant may not sell, transfer, pledge, exchange, hypothecate, or otherwise dispose of shares of Common Stock granted pursuant to a
Stock Award, (ii) the Corporation shall retain custody of the certificates evidencing shares of Common Stock granted pursuant to a Stock Award, and (iii) the Participant will deliver to
the Corporation a stock power, endorsed in blank, with respect to each Stock Award. The limitations set forth in the preceding sentence shall not apply after the shares of Common Stock granted under
the Stock Award are transferable and are no longer forfeitable. 

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ARTICLE IX
  PERFORMANCE SHARE AWARDS    
    

9.01. Award  

        In accordance with the provisions of IV, the Administrator will designate each individual to whom an Award of Performance Shares is to be made and will specify
the number of shares of Common Stock covered by each such Award. 

9.02. Earning the Award  

        The Administrator, on the date of the grant of an Award, shall prescribe that the Performance Shares, or a portion thereof, will be earned, and the Participant
will be entitled to receive payment pursuant to the Award of Performance Shares, only upon the satisfaction of performance objectives or such other criteria as may be prescribed by the Administrator
and set forth in the Agreement. By way of example and not of limitation, the performance objectives or other criteria may provide that the Performance Shares will be earned only if the Participant
remains in the employ or service of the Corporation or a Subsidiary for a stated period or that the Corporation, a Subsidiary, the Corporation and its Subsidiaries or the Participant achieve stated
objectives. Notwithstanding the preceding sentences of this Section 9.02, the Administrator, in its discretion, may reduce the duration of the performance period and may adjust the performance
objectives for outstanding Performance Shares in connection with a Participant's termination of employment or service. 

9.03. Payment  

        In the discretion of the Administrator, the amount payable when an Award of Performance Shares is earned may be settled in cash, by the issuance of Common Stock
or a combination of cash and Common Stock. A fractional share shall not be deliverable when an Award of Performance Shares is earned, but a cash payment will be made in lieu thereof. 

9.04. Shareholder Rights  

        No Participant shall, as a result of receiving an Award of Performance Shares, have any rights as a shareholder until and to the extent that the Award of
Performance Shares is earned and settled by the issuance of Common Stock. After an Award of Performance Shares is earned, if settled completely or partially in Common Stock, a Participant will have
all the rights of a shareholder with respect to such Common Stock. 

9.05. Nontransferability  

        Except as provided in Section 9.06, Performance Shares granted under this Plan shall be nontransferable except by will or by the laws of descent and
distribution. No right or interest of a Participant in any Performance Shares shall be liable for, or subject to, any lien, obligation, or liability of such Participant. 

9.06. Transferable Performance Shares  

        Section 9.05 to the contrary notwithstanding, if the Agreement provides, an Award of Performance Shares may be transferred by a Participant to the
Participant's children, grandchildren, spouse, one or more trusts for the benefit of such family members or a partnership in which such family members are the only partners, on such terms and
conditions as may be permitted under Securities Exchange Commission Rule 16b-3 as in effect from time to time. The holder of Performance Shares transferred pursuant to this section
shall be bound by the same terms and conditions that governed the Performance Shares during the period that they were held by the Participant; provided, however that 

13

 

such
transferee may not transfer Performance Shares except by will or the laws of descent and distribution. 

9.07. Employee Status  

        In the event that the terms of any Performance Share Award provide that no payment will be made unless the Participant completes a stated period of employment or
service, the Administrator may decide to what extent leaves of absence for government or military service, illness, temporary disability, or other reasons shall not be deemed interruptions of
continuous employment or service. 

9.08. Change in Control  

        Section 9.02 to the contrary notwithstanding, each outstanding Performance Share Award shall be earned upon a Change in Control and Participants shall be
entitled to a pro-rata portion of their Performance Share Award, calculated by multiplying the total Award by a fraction, the numerator of which is the number of months elapsed in the
performance period (as defined in the Agreement) and the denominator of which is the total length of the performance period defined in the Agreement. The amount payable for Performance Shares that are
earned pursuant to this Section 9.08 shall be settled in cash or Common Stock or a combination of cash and Common Stock as determined by the Administrator in its discretion as soon as
practicable after the Change in Control Date. 

14

 
 
 

ARTICLE X
  STOCK UNITS    
    

10.01. Award  

        In accordance with the provisions of Article IV, the Administrator will designate individual to whom an Award of Stock Units is to be made and will specify
the number of Stock Units covered by such Awards. 

10.02. Earning the Award  

        The Administrator, on the date of grant of the Award, may prescribe that the Stock Units or a portion thereof, will be earned only upon, and the Participant will
be entitled to receive a payment pursuant to the Award of Stock Units, only upon the satisfaction of performance objectives or such other criteria as may be prescribed by the Administrator and set
forth in the Agreement. By way of example and not of limitation, the performance objectives or other criteria may provide that the Stock Units will be earned only if the Participant remains in the
employ or service of the Corporation or a Subsidiary for a stated period or that the Corporation, a Subsidiary, the Corporation and its Subsidiaries or the Participant achieve stated objectives.
Notwithstanding the preceding sentences of this Section 10.02, the Administrator, in its discretion, may reduce the duration of the performance period and may adjust the performance objectives
for outstanding Stock Units in connection with a Participant's termination of employment or service. 

10.03. Payment  

        In accordance with the Agreement, the amount payable when an award of Stock Units is earned may be settled in cash, Common Stock or a combination of cash and
Common Stock. A fractional share shall not be deliverable when an Award of Stock Units is earned, but a cash payment will be made in lieu thereof. 

10.04. Nontransferability  

        A Participant may not sell, transfer, pledge, exchange, hypothecate, or otherwise dispose of a Stock Unit Award other than by will or the laws of descent and
distribution. The limitations set forth in the preceding sentence shall not apply to Common Stock issued as payment pursuant to a Stock Unit Award. 

10.05. Shareholder Rights  

        No Participant shall, as a result of receiving a Stock Unit Award, have any rights as a shareholder of the Company or Subsidiary until and to the extent that the
Stock Units are earned and settled in shares of Common Stock. After Stock Units are earned and settled in shares of Common Stock, a Participant will have all the rights of a shareholder with respect
to such shares. 

10.06. Change in Control  

        Section 10.02 to the contrary notwithstanding, each Stock Unit shall be earned in its entirety as of a Control Change Date without regard to whether any
condition to which the award is subject have been met. 

15

 
 
 

ARTICLE XI
  ADJUSTMENT UPON CHANGE IN COMMON STOCK    
    

        The maximum number of shares as to which Awards may be granted under this Plan; and the terms of outstanding Awards; and the per individual limitations on the
number of shares of Common Stock for which Awards may be granted shall be adjusted as the Committee shall determine to be equitably required in the event that (a) the Corporation
(i) effects one or more stock dividends, stock split-ups, subdivisions or consolidations of shares or (ii) engages in a transaction to which Section 424 of the Code
applies, (b) there occurs any other event which, in the judgment of the
Committee necessitates such action or (c) there is a Change in Control. Any determination made under this Article XI by the Committee shall be final and conclusive. 

        The
issuance by the Corporation of shares of stock of any class, or securities convertible into shares of stock of any class, for cash or property, or for labor or services, either upon
direct sale or upon the exercise of rights or warrants to subscribe therefore, or upon conversion of shares or obligations of the Corporation convertible into such shares or other securities, shall
not affect, and no adjustment by reason thereof shall be made with respect to, the maximum number of shares as to which Awards may be granted, the per individual limitations on the number of shares of
Common Stock for which Awards may be granted or the terms of outstanding Awards. 

        The
Committee may make Awards in substitution for performance shares, phantom shares, stock awards, stock options, stock appreciation rights, or similar awards held by an individual who
becomes an employee of the Corporation or a Subsidiary in connection with a transaction or event described in the first paragraph of this Article XI. Notwithstanding any provision of the Plan
(other than the limitation of Section 5.02), the terms of such substituted Awards shall be as the Committee, in its discretion, determines is appropriate. 

16

 
 
 

ARTICLE XII
  COMPLIANCE WITH LAW AND APPROVAL OF REGULATORY BODIES    
    

        No Option or SAR shall be exercisable, no Common Stock shall be issued, no certificates for shares of Common Stock shall be delivered, and no payment shall be
made under this Plan except in compliance with all applicable federal and state laws and regulations (including, without limitation, withholding tax requirements), any listing agreement to which the
Corporation is a party, and the rules of all domestic stock exchanges on which the Corporation's shares may be listed. The Corporation shall have the right to rely on an opinion of its counsel as to
such compliance. Any share certificate issued to evidence Common Stock when a Stock Award is granted, a Performance Share or Stock Unit is settled or for which an Option or SAR is exercised may bear
such legends and statements as the Administrator may deem advisable to assure compliance with federal and state laws and regulations. No Option or SAR shall be exercisable, no Stock Award, Stock Unit
or Performance Share shall be granted, no Common Stock shall be issued, no certificate for shares shall be delivered, and no payment shall be made under this Plan until the Corporation has obtained
such consent or approval as the Administrator may deem advisable from regulatory bodies having jurisdiction over such matters. 

17

 
 
 

ARTICLE XIII
  GENERAL PROVISIONS    
    

13.01. Effect on Employment and Service  

        Neither the adoption of this Plan, its operation, nor any documents describing or referring to this Plan (or any part thereof), shall confer upon any individual
any right to continue in the employ or service of the Corporation or a Subsidiary or in any way affect any right or power of the Corporation or a Subsidiary to terminate the employment or service of
any individual at any time with or without assigning a reason therefore. 

13.02. Unfunded Plan  

        The Plan, insofar as it provides for grants, shall be unfunded, and the Corporation shall not be required to segregate any assets that may at any time be
represented by grants under this Plan. Any liability of the Corporation to any person with respect to any grant under this Plan shall be based solely upon any contractual obligations that may be
created pursuant to this Plan. No such obligation of the Corporation shall be deemed to be secured by any pledge of, or other encumbrance on, any property of the Corporation. 

13.03. Rules of Construction  

        Headings are given to the articles and sections of this Plan solely as a convenience to facilitate reference. The reference to any statute, regulation, or other
provision of law shall be construed to refer to any amendment to or successor of such provision of law. 

13.04. Tax Withholding  

        Each Participant shall be responsible for satisfying any income and employment tax withholding obligation attributable to participation in this Plan. In
accordance with procedures established by the Administrator, a Participant may surrender shares of Common Stock, or receive fewer shares of Common Stock than otherwise would be issuable, in
satisfaction of all or part of that obligation. 

18

 
 
 

ARTICLE XIV
  AMENDMENT    
    

        The Board may amend or terminate this Plan from time to time; provided, however, that no amendment may become effective until shareholder approval is obtained if
(i) the amendment increases the aggregate number of shares of Common Stock that may be issued under the Plan (other than an adjustment pursuant to Article XI) or (ii) the
amendment changes the class of individuals eligible to become Participants. No amendment shall, without a Participant's consent, adversely affect any rights of such Participant under any Award
outstanding at the time such amendment is made. 

19

 
 
 

ARTICLE XV
  DURATION OF PLAN    
    

        No Awards may be granted under this Plan more than ten years after the earlier of the date the Plan is adopted by the Board or the date that the Plan is approved
in accordance with Article XVI. Awards granted before that date shall remain valid in accordance with their terms. 

20

 
 
 

ARTICLE XVI
  EFFECTIVE DATE OF PLAN    
    

        Options, SARs, Stock Units and Performance Shares may be granted under this Plan upon its adoption by the Board, provided that no Option, SAR, Stock Units or
Performance Shares shall be effective or exercisable unless this Plan is approved by a majority of the votes cast by the Corporation's shareholders, voting either in person or by proxy, at a duly held
shareholders' meeting at which a quorum is present or by unanimous consent. Stock Awards may be granted under this Plan, upon the later of its adoption by the Board or its approval by shareholders in
accordance with the preceding sentence. 

21

QuickLinks

CARDINAL FINANCIAL CORPORATION 2002 EQUITY COMPENSATION PLAN (as amended and restated effective April 22, 2005)

CARDINAL FINANCIAL CORPORATION 2002 Equity Compensation Plan As Amended and Restated Effective April 22, 2005

Table of Contents

CARDINAL FINANCIAL CORPORATION 2002 Equity Compensation Plan As Amended and Restated Effective April 22, 2005

ARTICLE I DEFINITIONS

ARTICLE II PURPOSES

ARTICLE III ADMINISTRATION

ARTICLE IV ELIGIBILITY

ARTICLE V STOCK SUBJECT TO PLAN

ARTICLE VI OPTIONS

ARTICLE VII SARS

ARTICLE VIII STOCK AWARDS

ARTICLE IX PERFORMANCE SHARE AWARDS

ARTICLE X STOCK UNITS

ARTICLE XI ADJUSTMENT UPON CHANGE IN COMMON STOCK

ARTICLE XII COMPLIANCE WITH LAW AND APPROVAL OF REGULATORY BODIES

ARTICLE XIII GENERAL PROVISIONS

ARTICLE XIV AMENDMENT

ARTICLE XV DURATION OF PLAN

ARTICLE XVI EFFECTIVE DATE OF PLANQuickLinks
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EXHIBIT 4.11    
    

SPECIMEN
COMMON STOCK CERTIFICATE 

	NUMBER	 	SUPERIOR ESSEX LOGO	 	SHARES
	

	
 	

 	
 	

	INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE
	COMMON STOCK	 	 	 	CUSIP 86815V 10 5

This
Certifies that: 

	is the owner of:	 
	 	

FULLY
PAID AND NON-ASSESSABLE SHARES OF THE COMMON STOCK, PAR VALUE $.01, OF 

SUPERIOR
ESSEX INC. 

transferable
on the books of the Corporation in person or by duly authorized attorney upon surrender of this Certificate properly endorsed. This Certificate and the shares represented thereby are
issued under and shall be subject to all of the provisions of the Certificate of Incorporation of the Corporation and any amendments thereto, copies of which are on file with the Corporation and the
Transfer Agent, to and of which the holder by acceptance hereof assents. This Certificate is not valid unless countersigned by the Transfer Agent and registered by the Registrar. 

        WITNESSETH
the facsimile seal of the Corporation and the facsimile signatures of its duly authorized officers. 

Dated:

	Executive Vice President, General Counsel and Secretary	 	[SEAL]	 	Chief Executive Officer

SUPERIOR
ESSEX INC. 

THE
CORPORATION IS AUTHORIZED TO ISSUE MORE THAN ONE CLASS OF STOCK. THE CORPORATION WILL FURNISH TO THE HOLDER UPON REQUEST AND WITHOUT CHARGE THE POWERS, DESIGNATIONS, PREFERENCES AND RELATIVE
PARTICIPATING, OPTIONAL OR OTHER SPECIAL RIGHTS OF EACH CLASS OF STOCK OR SERIES THEREOF AND THE QUALIFICATIONS, LIMITATIONS OR RESTRICTIONS OF SUCH PREFERENCES AND/OR RIGHTS. 

The
following abbreviations, when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according to applicable laws or regulations: 

	TEN COM	—	as tenants in common	 	UNIF GIFT MIN ACT	 	 	Custodian	 
	 	 	 	 	 	 	
	 	 	

	TEN ENT	—	as tenants by the entirities	 	 	under Uniform Gifts to Minors
	JT TEN	—	as joint tenants with right of survivorship and not as tenants in common	 	 	Act	 	 	 	 
	 	 	 	 	 	 	
 (State)

Additional
abbreviations may also be used though not in the above list. 

For
Value Received,
                                         
                                        hereby sell,
assign and transfer unto 

PLEASE
INSERT SOCIAL SECURITY OR OTHER

IDENTIFYING NUMBER OF ASSIGNEE 

[BOX]

	
 (PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP OR POSTAL CODE OF ASSIGNEE)
	

	

	

 	

Shares
	
	 
	Of the Common Stock represented by the within certificate, and do hereby irrevocably constitute and appoint
	

 	

Attorney
	
	 
	To transfer the said shares on the book of the within named Corporation with full power of substitution in the premises.

   

	Dated	 	 	 
	 	
	 	 
	

 	

 	
 	

	Signature(s) Guaranteed:	 	 
	    	 	 	 
	

	
 	

 

THE
SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE
MEDALLION PROGRAM) PURSUANT TO SEC RULE 17Ad-15. 

   

KEEP
THIS CERTIFICATE IN A SAFE PLACE. IF IT IS LOST, STOLEN, MUTILATED OR DESTROYED, THE CORPORATION WILL REQUIRE A BOND OF INDEMNITY AS A CONDITION TO THE ISSUANCE OF A REPLACEMENT CERTIFICATE. 

QuickLinks

EXHIBIT 4.11

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