Document:

exhibit101stockagreement.htm

    THIS
DOCUMENT CONSTITUTES PART OF A PROSPECTUS COVERING SECURITIES THAT

    HAVE BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933.

    

    

    April 30,
2008

    

    FORM
OF RESTRICTED STOCK AGREEMENT

    UNDER
THE INTERNATIONAL SHIPHOLDING CORPORATION

    STOCK
INCENTIVE PLAN

    

    

    This
RESTRICTED STOCK AGREEMENT (this “Agreement”) is entered into as of April 30,
2008, by and between International Shipholding Corporation (“ISC”) and
___________________ (“Award Recipient”).

     

    WHEREAS, ISC maintains a Stock
Incentive Plan (the “Plan”), under which the Compensation Committee of the Board
of Directors of ISC (the “Committee”) may, among other things, grant restricted
shares of ISC’s common stock, $1.00 par value per share (the “Common Stock”), to
key employees of ISC or its subsidiaries (collectively, the “Company”), subject
to such terms, conditions, or restrictions as it may deem appropriate;
and

     

    WHEREAS, the Committee has
awarded to the Award Recipient restricted shares of Common Stock on the terms
and conditions specified below;

     

    NOW, THEREFORE, the parties
agree as follows:

     

     

    1.

     

    AWARD OF
SHARES

     

    Upon the
terms and conditions of the Plan and this Agreement, the Committee as of the
date of this Agreement hereby awards to the Award Recipient ________ restricted
shares of Common Stock (“Restricted Stock”) that vest, subject to Section 2
hereof, in installments as follows:

    

    
      	
              Scheduled Vesting Date

            	
              Number
      of Shares of

              Restricted Stock Vesting

            
	 
      	 
      
	 
      	 
      
	 
      	 
      
	 
      	 
      

    

     

     

     

    2.

     

    AWARD
RESTRICTIONS ON

     

    RESTRICTED
STOCK

     

    2.1 In
addition to the conditions and restrictions provided in the Plan, neither the
shares of Restricted Stock nor the right to vote the Restricted Stock, to
receive dividends thereon or to enjoy any other rights or interests thereunder
or hereunder may be sold, assigned, donated, transferred, exchanged, pledged,
hypothecated or otherwise encumbered prior to vesting.  Subject to the
restrictions on transfer and the restrictions on the receipt of dividends
provided in this Section 2, the Award Recipient shall be entitled to all rights
of a shareholder of ISC with respect to the Restricted Stock, including the
right to vote the shares.

     

    2.2 All
dividends paid and distributions made on unvested shares of Restricted Stock
shall be held by the Company until the vesting of the Restricted Stock on which
such dividends were paid or distributions were made.  No interest
shall accrue on such amounts prior to payout by the Company.  All
dividends and distributions on Restricted Stock shall be paid to the Award
Recipient promptly upon the vesting of the related Restricted Stock, but in no
event later than 21⁄2 months following such vesting date.  Upon the
forfeiture of Restricted Stock, all related dividends and distributions on such
Restricted Stock shall also be forfeited.

     

    2.3 If the
shares of Restricted Stock have not already vested in accordance with Section 1
above, the shares of Restricted Stock and all dividends and distributions
thereon shall vest and all restrictions set forth in Section 2.1 and 2.2 shall
lapse on the earlier of:

     

    (a) the date
on which the employment of the Award Recipient terminates as a result of (i)
death, (ii) disability within the meaning of Section 22(e)(3) of the Internal
Revenue Code (“Disability”), or (iii) retirement on or after reaching age 65;
or

     

    (b) the
occurrence of a Change of Control of ISC, as described in Section 9.11 of the
Plan.

     

     

     

    3.

     

    TERMINATION
OF EMPLOYMENT

     

    All
unvested Restricted Stock and rights to related dividends and distributions
thereon shall automatically terminate and be forfeited if the employment of the
Award Recipient terminates for any reason, unless and to the extent otherwise
provided in Section 2.3 above.

     

     

     

    4.

     

    STOCK
CERTIFICATES

     

    4.1 The stock
certificates evidencing the Restricted Stock shall be retained by ISC until the
lapse of restrictions under the terms hereof.  ISC shall place a
legend, in the form specified in the Plan, on the stock certificates restricting
the transferability of the shares of Restricted Stock.

     

    4.2 Upon the
lapse of restrictions on shares of Restricted Stock, ISC shall cause a stock
certificate without a restrictive legend to be issued with respect to the vested
Restricted Stock in the name of the Award Recipient or his or her nominee,
subject to the other terms and conditions hereof, including any withholdings of
shares under Section 5 below.  Upon receipt of such stock certificate,
the Award Recipient is free to hold or dispose of the shares represented by such
certificate, subject to (i) applicable securities laws, (ii) ISC’s insider
trading policy, and (iii) any applicable stock retention policies that ISC may
adopt in the future.

     

     

     

    5.

     

     

    WITHHOLDING
TAXES

     

    At the
time that all or any portion of the Restricted Stock vests or at such earlier
date, the Award Recipient must deliver to ISC the amount of income tax
withholding required by law.  The Award Recipient shall have the right
to fully satisfy this tax withholding obligation by requesting ISC to withhold
from the shares the Award Recipient otherwise would receive hereunder shares of
Common Stock having a value (as determined under the Plan) equal to the minimum
amount required to be withheld; provided, however, that to
prevent the issuance of fractional shares and the under-withholding of taxes,
the Award Recipient agrees that the number of shares withheld shall be rounded
up to the next whole number of shares.  Notwithstanding the terms of
the Plan, the Committee does not have the right to disapprove of an election by
the Award Recipient to have shares withheld in satisfaction of the withholding
tax obligation.

     

     

    6.

     

    ADDITIONAL
CONDITIONS

    

    Anything
in this Agreement to the contrary notwithstanding, if, at any time prior to the
vesting of the Restricted Stock in accordance with Section 1 or 2 hereof, ISC
further determines, in its sole discretion, that the listing, registration or
qualification (or any updating of any such document) of the shares of Common
Stock issuable pursuant hereto is necessary on any securities exchange or under
any federal or state securities or blue sky law, or that the consent or approval
of any governmental regulatory body is necessary or desirable as a condition of,
or in connection with the issuance of shares of Common Stock pursuant thereto,
or the removal of any restrictions imposed on such shares, such shares of Common
Stock shall not be issued, in whole or in part, or the restrictions thereon
removed, unless such listing, registration, qualification, consent or approval
shall have been effected or obtained free of any conditions not acceptable to
ISC.  ISC agrees to use commercially reasonable efforts to issue all
shares of Common Stock issuable hereunder on the terms provided
herein.

     

     

     

    7.

     

    NO
CONTRACT OF EMPLOYMENT INTENDED

    

    Nothing
in this Agreement shall confer upon the Award Recipient any right to continue in
the employment of the Company, or to interfere in any way with the right of the
Company to terminate the Award Recipient’s employment relationship with the
Company at any time.

     

     

     

    8.

     

    BINDING
EFFECT

    

    Upon
being duly executed and delivered by ISC and the Award Recipient, this Agreement
shall inure to the benefit of and be binding upon the parties hereto and their
respective heirs, executors, administrators, legal representatives and
successors.  Without limiting the generality of the foregoing,
whenever the term “Award Recipient” is used in any provision of this Agreement
under circumstances where the provision appropriately applies to the heirs,
executors, administrators or legal representatives to whom this award may be
transferred by will or by the laws of descent and distribution, the term “Award
Recipient” shall be deemed to include such person or persons.

     

     

    9.

     

    INCONSISTENT
PROVISIONS

    

    The
shares of Restricted Stock granted hereby are subject to the terms, conditions,
restrictions and other provisions of the Plan as fully as if all such provisions
were set forth in their entirety in this Agreement.  If any provision
of this Agreement conflicts with a provision of the Plan, the Plan provision
shall control.  The Award Recipient acknowledges receipt from ISC of a
copy of the Plan and a prospectus for the Restricted Stock.  The Award
Recipient waives the right to claim that the provisions of the Plan are not
binding upon the Award Recipient and the Award Recipient’s heirs, executors,
administrators, legal representatives and successors.

     

     

     

    10.

     

    ATTORNEYS’
FEES AND EXPENSES

     

    Should
any party hereto retain counsel for the purpose of enforcing, or preventing the
breach of, any provision hereof, including, but not limited to, the institution
of any action or proceeding in court to enforce any provision hereof, to enjoin
a breach of any provision of this Agreement, to obtain specific performance of
any provision of this Agreement, to obtain monetary or liquidated damages for
failure to perform any provision of this Agreement, or for a declaration of such
parties’ rights or obligations hereunder, or for any other judicial remedy, then
the prevailing party shall be entitled to be reimbursed by the losing party for
all costs and expenses incurred thereby, including, but not limited to,
attorneys’ fees (including costs of appeal).

     

     

     

    11.

     

    GOVERNING
LAW

     

    This
Agreement shall be governed by and construed in accordance with the laws of the
State of Delaware.

     

     

     

    12.

     

    SEVERABILITY

    

    If any
term or provision of this Agreement, or the application thereof to any person or
circumstance, shall at any time or to any extent be invalid, illegal or
unenforceable in any respect as written, the Award Recipient and ISC intend for
any court construing this Agreement to modify or limit such provision so as to
render it valid and enforceable to the fullest extent allowed by
law.  Any such provision that is not susceptible of such reformation
shall be ignored so as to not affect any other term or provision hereof, and the
remainder of this Agreement, or the application of such term or provision to
persons or circumstances other than those as to which it is held invalid,
illegal or unenforceable, shall not be affected thereby and each term and
provision of this Agreement shall be valid and enforced to the fullest extent
permitted by law.

     

     

     

    13.

     

     

    ENTIRE
AGREEMENT; MODIFICATION

     

    The Plan
and this Agreement contain the entire agreement between the parties with respect
to the subject matter contained herein and may not be modified, except as
provided in the Plan, as it may be amended from time to time in the manner
provided therein, or in this Agreement, as it may be amended from time to time
by a written document signed by each of the parties hereto.  Any oral
or written agreements, representations, warranties, written inducements, or
other communications with respect to the subject matter contained herein made
prior to the execution of the Agreement shall be void and ineffective for all
purposes.

    

    

    [Signatures
appear on next page]

    
      
        
          {N1812282.3}

        

         

      

      
         

        
          

        

      

      
         

      

    

    IN WITNESS WHEREOF, the parties hereto
have caused this Agreement to be duly executed and delivered on the day and year
first above written.

    

    INTERNATIONAL
SHIPHOLDING CORPORATION

    

    

    By:           

    {Insert Name and Title}

    

    

    

    

    {Insert name}

    Award
Recipientexh102-nqsoformemployee.htm

     

    
      EXHIBIT
10.2

       

      CHURCH
& DWIGHT CO., INC.

       

      2008
OMNIBUS EQUITY COMPENSATION PLAN

       

      NONQUALIFIED STOCK OPTION
GRANT

       

      This
STOCK OPTION GRANT AGREEMENT (the “Agreement”), dated as of _________________
(the “Date of Grant”), is delivered by Church & Dwight Co., Inc. (the
“Company”) to _______________ (the “Grantee”).

       

      RECITALS

       

      A.           The
Church & Dwight Co., Inc. 2008 Omnibus Equity Compensation Plan (the “Plan”)
provides for the grant of options to purchase shares of common stock of the
Company.  The Compensation Committee of the Company’s Board of
Directors (the “Committee”), which administers the Plan, has decided to make a
stock option grant as an inducement for the Grantee to continue in the employ of
the Employer (as defined in the Plan) and promote the best interests of the
Company and its stockholders.  References in this Agreement to the
Committee shall include any successor thereto appointed under and in accordance
with the Plan.

       

      NOW,
THEREFORE, the parties to this Agreement, intending to be legally bound, hereby
agree as follows:

       

      1. Grant of
Option.  Subject to the terms and conditions set forth in this
Agreement and in the Plan, the Company hereby grants to the Grantee a
nonqualified stock option (the “Option”) to purchase ___________ shares of
common stock of the Company (“Shares”) at an exercise price of $_________ per
Share.  The Option shall become exercisable according to Paragraph 2
below.

       

      2. Exercisability of
Option.  Except as provided in Paragraphs 3(b) and 5 below or
the Plan, the Option shall become exercisable on the following dates, if the
Grantee continues to be employed by the Employer on the applicable vesting date
(“Vesting Date”):

       

      
        	
                Vesting

                Date

              	
                Shares for Which the Option is

                Exercisable on the Vesting
    Date

              
	
                Third
      anniversary of the Date of Grant

              	
                100
      %

              

      

       

      3. Term of
Option.

       

      (a) The
Option shall have a term of ten years from the Date of Grant and shall terminate
on the tenth anniversary of the Date of Grant, unless it is terminated at an
earlier date pursuant to the provisions of this Agreement or the
Plan.

       

      (b) The
Option shall automatically terminate upon the happening of the first of the
following events:

       

      (i) The
expiration of the 30-day period after the Grantee ceases to be employed by the
Employer, if the termination is for any reason other than Disability (as defined
below), death, Retirement (as defined below) or Cause (as defined
below).  If the Grantee’s employment is involuntarily terminated by
the Employer without Cause and if the Grantee executes and does not revoke a
written release, in a form acceptable to the Company, of any and all claims
against the Employer and all related parties with respect to all matters arising
out of the Grantee’s employment with the Employer, and the termination thereof
(the “Release”), then the Option shall continue to become exercisable in
accordance with Paragraph 2 above during the 30-day period set forth in this
clause (i).

       

      (ii) The
expiration of the three-year period after the Grantee ceases to be employed by
the Employer on account of the Grantee’s Disability, and the Option shall
continue to become exercisable in accordance with Paragraph 2 above during such
three-year period.  For purposes of this Agreement, the term
“Disability” shall mean the Grantee’s inability to render services to the
Employer for a period of six consecutive months by reason of permanent
disability, as determined by the written medical opinion of an independent
medical physician reasonably acceptable to the Employer.  In no event
shall the Grantee be considered Disabled for purposes of this Agreement unless
the Grantee is deemed disabled pursuant to the Employer’s long-term disability
plan, if one is maintained by the Employer at the time of the claimed
disability.

       

      (iii) The
expiration of the three-year period after the Grantee ceases to be employed by
the Employer, if the Grantee dies while employed by the Employer, and the Option
shall continue to become exercisable in accordance with Paragraph 2 above during
such three-year period.

       

      (iv) The
expiration of the three-year period after the Grantee ceases to be employed by
the Employer on account of the Grantee’s Retirement, and the Option shall
continue to become exercisable in accordance with Paragraph 2 above during such
three-year period.  For purposes of this Agreement, a Grantee shall be
considered to meet the requirements of “Retirement” if:

       

      
        
           

        

        
           

          
          

        

        
          
            
 

        

      

      (1) The
Grantee’s termination of employment is voluntary and without Cause and the
Grantee (A) has provided the Employer with at least 120 days prior written
notice of the termination date, (B) has entered into a separation agreement with
the Employer that contains confidentiality, non-competition, non-solicitation,
non-disparagement and invention assignment provisions, and (C) is age 55 or
above with at least five years of service at the Grantee’s termination date and
the sum of the Grantee’s age and years of service at the termination date is
equal to or greater than 65; or

       

      (2) The
Grantee’s termination of employment is involuntary without Cause and the Grantee
(A) pursuant to the request of the Employer, has entered into
a  separation agreement with the Employer that contains
confidentiality, non-competition, non-solicitation and non-disparagement
provisions, and (B) is age 55 or above with at least five years of service at
the Grantee’s termination date and the sum of the Grantee’s age and years of
service at the termination date is equal to or greater than 65.

       

      (v) The date
on which the Grantee ceases to be employed by the Employer for
Cause.  In addition, upon a termination for Cause, the Grantee shall
automatically forfeit all Shares underlying any exercised portion of an Option
for which the Company has not yet delivered the Share certificates, upon refund
by the Company to the Grantee of the exercise price paid by the Grantee for such
Shares.  Notwithstanding the prior provisions of this Paragraph 3, if
the Grantee engages in conduct that constitutes Cause with respect to the
Employer after the Grantee’s employment terminates, the Option shall immediately
terminate.  For purposes of this Agreement, the term “Cause” shall
mean the Grantee’s dishonesty, fraud, insubordination, willful misconduct or
refusal to attempt to perform services (for any reason other than illness or
incapacity), as determined by the Committee in its sole discretion.

       

      Notwithstanding
the foregoing, in no event may the Option be exercised on or after the tenth
anniversary of the Date of Grant.  Any portion of the Option that is
not exercisable at the time the Grantee ceases to be employed by the Employer,
and that will not subsequently become exercisable as provided in subparagraph
3(b)(i), (ii), (iii) or (iv) above, shall immediately terminate.  The
portion of the Option that is exercisable or will become exercisable under
subparagraph 3(b)(i), (ii), (iii) or (iv) after the Executive’s termination of
employment shall be determined as of the Executive’s termination date based on
the vesting schedule in Paragraph 2 (without regard to any Change of Control
that could occur after termination of employment), and the remainder of the
Option shall terminate and cease to be outstanding as of the Executive’s
termination date.

       

      4. Exercise
Procedures.

       

      (a) Subject
to the provisions of Paragraphs 2 and 3 above, the Grantee may exercise part or
all of the exercisable Option by giving the Company written notice of intent to
exercise in the manner provided in this Agreement, specifying the number of
Shares as to which the Option is to be exercised and the method of
payment.  Payment of the exercise price shall be made in accordance
with procedures established by the Company from time to time based on type of
payment being made but, in any event, prior to issuance of the
Shares.  The Grantee shall pay the exercise price (i) in cash, (ii)
with the approval of the Committee, by delivering Shares of the Company, which
shall be valued at their fair market value on the date of exercise, or by
attestation (on a form prescribed by the Company) to ownership of Shares having
a fair market value on the date of exercise equal to the exercise price, (iii)
by payment through a broker in accordance with procedures permitted by
Regulation T of the Federal Reserve Board or (iv) by such other method as the
Committee may approve.  The Committee may impose from time to time
such limitations as it deems appropriate on the use of Shares of the Company to
exercise the Option.

       

      (b) The
Company’s obligation to deliver Shares upon exercise of the Option shall be
subject to all applicable laws, rules and regulations and also to such approvals
by governmental agencies as may be deemed appropriate by the Company, including
such actions as Company counsel shall deem necessary or appropriate to comply
with relevant securities laws and regulations.

       

      (c) All
obligations of the Company under this Agreement shall be subject to the rights
of the Company as set forth in the Plan to withhold amounts required to be
withheld for any taxes, if applicable.  Subject to Committee approval,
the Grantee may elect to satisfy any tax withholding obligation of the Employer
with respect to the Option by having Shares withheld up to an amount that does
not exceed the minimum applicable withholding tax rate for federal (including
FICA and Medicare), state and local tax liabilities.

       

      5. Change of
Control.  The provisions of the Plan applicable to a Change of
Control (as defined in the Plan) shall apply to the outstanding Option, and, in
the event of a Change of Control, the Committee may take such actions as it
deems appropriate pursuant to the Plan.

       

      6. Restrictions on
Exercise.  Except as the Committee may otherwise permit
pursuant to the Plan, only the Grantee may exercise the Option during the
Grantee’s lifetime and, after the Grantee’s death, the Option shall be
exercisable (subject to the limitations specified in the Plan) solely by the
legal representatives of the Grantee, or by the person who acquires the right to
exercise the Option by will or by the laws of descent and distribution, to the
extent that the Option is exercisable pursuant to this Agreement.

       

      7. Grant Subject to Plan
Provisions.  This grant is made pursuant to the Plan, the terms
of which are incorporated herein by reference, and in all respects shall be
interpreted in accordance with the Plan.  The grant and exercise of
the Option are subject to interpretations, regulations and determinations
concerning the Plan established from time to time by the Committee in accordance
with the provisions of the Plan, including, but not limited to, provisions
pertaining to (a) the registration, qualification or listing of the Shares, (b)
changes in capitalization of the Company and (c) other requirements of
applicable law.  The Committee shall have the authority to interpret
and construe the Option pursuant to the terms of the Plan, and its decisions
shall be conclusive as to any questions arising hereunder.  By
accepting the grant of the Option, the Grantee agrees to be bound by the terms
of the Plan and this Agreement and agrees that all of the decisions and
determinations of the Committee shall be final and binding.

       

      
        
           

        

        
           

          
          

        

        
          
            
 

        

      

      8. No Employment or Other
Rights.  The grant of the Option shall not confer upon the
Grantee any right to be retained by or in the employ of any Employer and shall
not interfere in any way with the right of any Employer to terminate the
Grantee’s employment at any time. The right of any Employer to terminate at will
the Grantee’s employment at any time for any reason is specifically
reserved.

       

      9. No Stockholder
Rights.  Neither the Grantee, nor any person entitled to
exercise the Grantee’s rights in the event of the Grantee’s death, shall have
any of the rights and privileges of a stockholder with respect to the Shares
subject to the Option, until certificates for Shares have been issued upon the
exercise of the Option.

       

      10. Assignment and
Transfers.  Except as the Committee may otherwise permit
pursuant to the Plan, the rights and interests of the Grantee under this
Agreement may not be sold, assigned, encumbered or otherwise transferred except,
in the event of the death of the Grantee, by will or by the laws of descent and
distribution.  In the event of any attempt by the Grantee to alienate,
assign, pledge, hypothecate, or otherwise dispose of the Option or any right
hereunder, except as provided for in this Agreement, or in the event of the levy
or any attachment, execution or similar process upon the rights or interests
hereby conferred, the Company may terminate the Option by notice to the Grantee,
and the Option and all rights hereunder shall thereupon become null and
void.  The rights and protections of the Company hereunder shall
extend to any successors or assigns of the Company and to the Company’s parents,
subsidiaries, and affiliates.  This Agreement may be assigned by the
Company without the Grantee’s consent.

       

      11. Applicable
Law.  The validity, construction, interpretation and effect of
this instrument shall be governed by and construed in accordance with the laws
of the State of Delaware, without giving effect to the conflicts of laws
provisions thereof.

       

      12. Notice.  Any
notice to the Company provided for in this instrument shall be addressed to the
Company in care of the General Counsel at 469 North Harrison Street, Princeton,
New Jersey 08543-5297, and any notice to the Grantee shall be addressed to such
Grantee at the current address shown on the payroll of the Employer, or to such
other address as the Grantee may designate to the Employer in
writing.  Any notice shall be delivered by hand or by a recognized
courier service such as FedEx or UPS, sent by telecopy or enclosed in a properly
sealed envelope addressed as stated above, registered and deposited, postage
prepaid, in a post office regularly maintained by the United States Postal
Service.

       

      IN
WITNESS WHEREOF, the Company has caused its duly authorized officer to execute
and attest this Agreement, and the Grantee has executed this Agreement,
effective as of the Date of Grant.

       

      
        
          	 
      	
                  CHURCH
      & DWIGHT CO., INC.

                
	 
      	
                  By:

                	
                   
      

                
	 
      	
                  Name:

                	
                   

                
	 
      	
                  Title:

                	
                   

                
	 
      	
                  Grantee:

                	 
	 
      	
                  Date:

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