Document:

Form of Inergy Holdings Long Term Incentive Plan Unit Option Agreement

 Exhibit 4.3 
  
 INERGY HOLDINGS, L.P. LONG TERM INCENTIVE PLAN 
  
 UNIT OPTION AGREEMENT 
  

			
	Date of Grant:	 	[insert date]
		
	 Number of Units to
 which Option Relates:
	 	[insert # of Units]
		
	Option Price per Unit:	 	$ [insert price]
		
	Expiration Date:	 	[insert 10 year anniversary of day before Date of Grant]

  
 THIS UNIT OPTION
AGREEMENT (this “Option Agreement”) is entered on                     , 200[    ], by and
between Inergy Holdings GP, LLC, a Delaware limited liability company (“Holdings GP”), and                      (the
“Option Holder”). 
  
 RECITALS: 
  
 A. Effective June 20, 2005, Inergy Holdings GP, LLC (“Holdings
GP”) established the Inergy Holdings, L.P. Long-Term Incentive Plan (the “Plan”) under which Holdings GP could grant to employees and consultants of Holdings GP and its Affiliates and non-employee directors of Holdings GP
(collectively, a “Service Provider”) options to acquire certain Units. 
  
 B. The Option Holder is a Service Provider and Holdings GP desires to encourage the Option Holder to own Units and to give the Option Holder added incentive to advance the interests of Inergy Holdings, L.P.
(“Holdings”), and desires to grant the Option Holder an Option to purchase Units of Holdings under the terms and conditions established by the Committee and as set forth within the Plan and this Agreement. 
  
 AGREEMENT: 
  
 In consideration of the mutual promises and covenants contained herein and
other good and valuable consideration paid by the Option Holder to Holdings GP or its Affiliates, the Option Holder and Holdings GP agree as follows: 
  
 Section 1. Incorporation of Plan  
  
 All provisions of the Option Agreement and the rights of the Option Holder hereunder are subject in all respects to the provisions of the Plan and the
powers of the Committee therein provided. Capitalized terms used in this Agreement but not defined shall have the meanings set forth in the Plan. 
  
 Section 2. Grant of Unit Option  
  
 As of the Date of Grant identified above, Holdings GP grants to the Option Holder, subject to the terms and conditions set forth herein and in the Plan,
the right, privilege, and option (the “Option”) to purchase that number of Units identified above opposite the heading “Number of Units to Which Option Relates”, at the per Unit price specified above opposite the heading
“Option Price per Unit.” 

 Section 3. Exercisability  
  
 Except as provided in Sections 3(a) and 3(b) below, the Option shall become
exercisable as follows: 
  

				
	 Anniversary From Option’s
 Date of
Grant

	  	Percentage Exercisable

	 
	 before 3rd
	  	0	%
	 3rd
	  	25	%
	 4th
	  	50	%
	 5th and
beyond
	  	100	%

  
 Notwithstanding the
above, in the event of a Change in Control, the Option shall become immediately exercisable. 
  
 (a) In the event that the Option Holder ceases to be a Service Provider because of the Option Holder’s death or Disability, the
percentage of the Option that becomes exercisable as a result of such death or Disability will be determined according to the following schedule based upon the number of years that have elapsed from the Date of Grant to the date of such event (and
the remaining percentage of the Option, if any, shall be void for all purposes): 
  

				
	 Anniversary From Option’s
 Date of
Grant

	  	Percentage Exercisable

	 
	 1st
	  	40	%
	 2nd
	  	60	%
	 3rd
	  	80	%
	 4th and beyond
	  	100	%

  
 (b) In
the event that the Option Holder ceases to be a Service Provider because of termination of the Option Holder’s service by Holdings GP or one of its Affiliates without Cause (as defined in the Inergy, L.P. Long Term Incentive Plan as may be
amended from time to time (“ILTIP”), but with references changed to Holdings GP and Holdings, as applicable), the percentage of the Option that becomes exercisable as a result of such termination will be determined according to the
following schedule based upon the number of years that have elapsed from the Date of Grant to the date of such termination (and the remaining percentage of the Option, if any, shall be void for all purposes): 
  

				
	 Anniversary From Option’s
 Date of
Grant

	  	Percentage Exercisable

	 
	 1st
	  	20	%
	 2nd
	  	40	%
	 3rd
	  	60	%
	 4th
	  	80	%
	 5th and beyond
	  	100	%

 Section 4. Method of Exercise  
  
 Provided the Option has not expired, been terminated or cancelled in
accordance with the terms of the Plan, the Option, to the extent exercisable, may be exercised in whole or in part, from time to time by delivery to Holdings GP a written notice in substantially the same form as the Notice of Exercise attached
hereto which shall: 
  

	 	(a)	set forth the number of Units with respect to which the Option is to be exercised (such number must be in a minimum amount of ten Units); 

  

	 	(b)	if the person exercising the Option is not the Option Holder, be accompanied by satisfactory evidence of such person’s right to exercise the Option; and

  

	 	(c)	be accompanied by payment in full of the Option Price (and any necessary tax withholding) in the form of cash, or a certified bank check made payable to the order of Holdings GP or
any other means allowable under the Plan and acceptable to the Committee which Holdings GP in its sole discretion determines will provide legal consideration for the Units. 

  
 Section 5. Expiration of Option  
  
 Unless terminated earlier in accordance with the terms of this Agreement, the Option granted herein shall expire at 5:00
P.M., Kansas City, Missouri time, on the Expiration Date identified above opposite the heading “Expiration Date.” 
  
 Section 6. Effect of Separation from Service  
  
 (a) To the extent the Option is not exerciseable on the date the Option Holder ceases to be a Service Provider, such
percentage of the Option automatically shall be void for all purposes on such termination. 
  
 (b) In the event that the Option Holder ceases to be a Service Provider because of the Option Holder’s death, Disability, retirement, voluntary resignation or termination of employment by Holdings GP or one of
its Affiliates with or without Cause, the Option, to the extent then exercisable, may be exercised by the Option Holder or the Option Holder’s beneficiaries within the permissible periods of time set forth immediately below. 
  
 (i) Termination/Removal for Cause. In the event the
Option Holder ceases to be a Service Provider within the Option Period due to the termination of the Option Holder’s service (or removal as a non-employee director) for Cause, the Option, regardless of whether it is then exercisable, shall
immediately expire and be void for all purposes. 
  
 (ii) Retirement. In the event that the Option Holder ceases to be a Service Provider in a manner determined by the Committee, in its sole discretion, to constitute retirement, the Option, to the extent exercisable, may be exercised
by the Option Holder within twelve months following the date of the Option Holder’s retirement. 
  
 (iii) Death. In the event that the Option Holder dies (A) while he or she is a Service Provider, or (B) within the twelve
month period referred to in clause (ii) above, the Option, to the extent exercisable, may be exercised by the Option Holder’s Beneficiaries (as defined in the ILTIP) entitled to do so within twelve months following the date of the Option
Holder’s death. To the extent the Option Holder dies within the twelve-month period referred to in clause (iv) below or the six-month period referred to in clause (v) below, the Option, to the extent vested, may be exercised by those
beneficiaries entitled to do so solely within the time period that the Option Holder could have exercised the Option if the Option Holder were still alive. 
  
 (iv) Disability. In the event that the Option Holder becomes Disabled, as defined in the ILTIP, while he or she is a Service
Provider, the Option, to the extent exercisable, may be exercised by the Option Holder within twelve months following the date of the Option Holder’s Disability. 

 (v) Termination Without Cause or Voluntary Resignation. In the event that the
Option Holder ceases to be a Service Provider because of (A) the Option Holder’s voluntary resignation, or (B) the termination of the Option Holder’s service (or the removal of the Option Holder from the Board) by the Option
Holder’s employer without Cause, the Option, to the extent exercisable, may be exercised by the Option Holder within six months following the date of the Option Holder’s cessation of service. 
  
 (c) Notwithstanding anything to the contrary herein, in no event may the
Option be exercised after 5:00 P.M., Kansas City, Missouri time, on the Expiration Date identified above opposite the heading “Expiration Date.” 
  
 Section 7. Investment Intent.  
  
 The Option Holder agrees that the Units acquired on exercise of the Option shall be acquired for the Option Holder’s own account for investment only
and not with a view to, or for resale in connection with, any distribution or public offering thereof within the meaning of the 1933 Act or other applicable securities laws. If the Committee so determines, any ownership certificates issued upon
exercise of the Option shall bear a legend to the effect that the Units have been so acquired. Holdings may, but in no event shall be required to, bear any expenses of complying with the 1933 Act, other applicable securities laws or the rules and
regulations of any national securities exchange or other regulatory authority in connection with the registration, qualification, or transfer, as the case may be, of the Option or any Units acquired upon the exercise thereof. The foregoing
restrictions on the transfer of the Units shall be inoperative if (a) Holdings previously shall have been furnished with an opinion of counsel, satisfactory to it, to the effect that such transfer will not involve any violation of the 1933 Act
and other applicable securities laws or (b) the Units shall have been duly registered in compliance with the 1933 Act and other applicable state or federal securities laws. If the Option, or the Units subject to the Option, are so registered
under the 1933 Act, the Option Holder agrees that he will not make a public offering of the said Units except on a national securities exchange on which the Units are then listed. 
  
 Section 8. Nontransferability of Option  
  
 No portion of the Option granted hereunder may be sold, transferred, pledged, assigned, or otherwise alienated or
hypothecated, other than by will, by the laws of descent and distribution. All rights with respect to the Option granted to the Option Holder shall be available during the Option Holder’s lifetime only to the Option Holder. 
  
 Section 9. Status of Option Holder  
  
 The Option Holder shall not be deemed a limited partner of Holdings with
respect to any of the Units subject to the Option, except to the extent that such Units shall have been purchased and issued to him or her. Holdings GP shall not be required to issue or transfer any certificates for Units purchased upon exercise of
the Option until all applicable requirements of law have been complied with and such Units shall have been duly listed on any securities exchange on which the Units may then be listed. 
  
 Section 10. No Effect on Capital Structure  
  
 The Option shall not affect the right of Holdings GP, Holdings, or any
Affiliate thereof to reclassify, recapitalize or otherwise change its capital or debt structure or to merge, consolidate, convey any or all of its assets, dissolve, liquidate, windup, or otherwise reorganize. 
  
 Section 11. Adjustments  
  
 Notwithstanding any provision herein to the contrary, in the event of any
change in the number of outstanding Units effected without receipt of consideration therefor by Holdings, by reason of a merger, reorganization, consolidation, recapitalization, split-up, split-off, liquidation, Unit dividend, Unit split, Unit
combination or other change in the capital structure of Holdings affecting the Units, the aggregate number of Units subject to the Option and the exercise price of the Option shall be automatically adjusted to accurately and equitably reflect the
effect thereon of such change; provided, however, that any fractional Unit resulting from such adjustment shall be eliminated. In the event of a dispute concerning such adjustment, the decision of the Committee shall be conclusive. 

 Section 12. Acknowledgement of Rights of Holdings GP in Event of Change in Control,
Reorganization, Liquidation, Etc.  
  
 By executing the
Option Agreement, the Option Holder agrees and acknowledges that in the event of a Change in Control, or in the event Holdings GP, Holdings, Inergy, L.P., Inergy Partners, LLC or Inergy GP, LLC shall become a party to any partnership or corporate
merger, consolidation, major acquisition of property for stock, separation, reorganization, liquidation or other similar type of corporate event, the Committee may take any of the actions as provided for in Section 6 of the Plan without
obtaining the Option Holder’s consent. 
  
 Section 13. Committee Authority  
  
 Any questions concerning the interpretation of the Option Agreement, any adjustments required to be made under Sections 11 or 12 of the Option Agreement, and any controversy which arises under the Option Agreement shall be settled by the
Committee in its sole discretion. 
  
 Section 14.
Withholding  
  
 The Option Holder agrees to make
appropriate arrangements with Holdings GP or one of its Affiliates for satisfaction of any applicable minimum Federal, state or local income tax or payroll tax withholding requirements or like requirements, including the payment to Holdings GP at
the time of exercise of an Option of all such taxes and requirements. 
  
 Section 15. Notice  
  
 Whenever any
notice is required or permitted hereunder, such notice must be in writing and personally delivered or sent by mail. Any notice required or permitted to be delivered hereunder shall be deemed to be delivered on the date which it was personally
delivered, or, whether actually received or not, on the third business day after it is deposited in the United States mail, certified or registered, postage prepaid, addressed to the person who is to receive it at the address which such person has
theretofore specified by written notice delivered in accordance herewith. Holdings GP or Option Holder may change, at any time and from time to time, by written notice to the other, the address previously specified for receiving notices. Until
changed in accordance herewith, Holdings GP and the Option Holder specify their respective addresses as set forth below: 
  

			
	Holdings GP:	 	Inergy Holdings GP, LLC
	 	 	Two Brush Creek Boulevard
	 	 	Kansas City, Missouri 64112
	 	 	Attention: Laura L. Ozenberger
		
	Option Holder:	 	[Option Holder Name]
	 	 	
                                        
                        
	 	 	
                                        
                        

  
 Section 16.
Binding Effect  
  
 The Option Agreement shall bind,
and, except as specifically provided herein, shall inure to the benefit of the respective heirs, legal representatives, successors and assigns of the parties hereto. 
  
 Section 17. Governing Law  
  
 The Option Agreement and the rights of all persons claiming hereunder shall be construed and determined in accordance with
the laws of the State of Delaware. 

 IN WITNESS WHEREOF, Holdings GP has caused this Agreement to be executed and the Option Holder has
hereunto set the Option Holder’s hand on the day and year first above written. 
  

			
	 INERGY HOLDINGS GP, LLC

		
	 By:
	 	  

	 	 	John J. Sherman, President
	
	  

	 [Option Holder’s name]Registration Rights provided by the Registrant to Richard Behfarin

 Exhibit 4.10 
  
 In connection with the issuance by Irvine Sensors Corporation (“ISC”) of 40,000 shares (the “Shares”) of its Common Stock to Richard Behfarin
(“Behfarin”), ISC agreed to provide the following registration rights to Behfarin: 
  
 If ISC proposes to register (including, for this purpose, a registration effected by ISC for its stockholders other than for Behfarin) any shares of its Common Stock under the Securities Act of 1933, as amended, in
connection with the public offering of such securities solely for cash (other than pursuant to an Excluded Registration), ISC shall, at such time, promptly give Behfarin notice of such registration. Upon the request by Behfarin to register such
shares within five (5) days after such notice is given by ISC, ISC shall cause to be registered all but not less than all of the Shares that Behfarin then holds. ISC shall have the right to terminate or withdraw any registration initiated by it
under this Section before the effective date of such registration, whether or not Behfarin has elected to include his Shares in such registration. For the purposes of this Section, “Excluded Registration” shall mean a registration relating
to (i) the sale of securities to employees of ISC pursuant to a stock option, stock purchase, or similar plan or to an SEC Rule 145 transaction; (ii) a registration on any form that does not include substantially the same information as
would be required to be included in a registration statement covering the sale of the Common Stock; or (iii) a registration in which the only Common Stock being registered is Common Stock issuable upon conversion of debt securities that are
also being registered. Notwithstanding the foregoing, in connection with any offering involving an underwriting of shares of ISC’s capital stock pursuant to this Section, ISC shall not be required to include any of Behfarin’s Shares in
such underwriting unless Behfarin accepts the terms of the underwriting as agreed upon between ISC and its underwriters, and then only in such quantity as the underwriters in their sole discretion determine will not jeopardize or impair the success
of the offering by ISC.

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