Document:

Exhibit 10.1

CARLISLE COMPANIES INCORPORATED

NONQUALIFIED STOCK OPTION AGREEMENT

This Agreement (the “Agreement”) is made as of June 21, 2007
(the “Date of Grant”) by and between Carlisle Companies Incorporated, a
Delaware corporation (the “Company”) and 
David A. Roberts (the “Optionee”).

1.                                       Grant of Option Right. Subject to and upon the terms, conditions and restrictions
set forth in this Agreement and in the Company’s Executive Incentive Program
(the “Program”), the Company hereby grants to the Optionee as of the Date of
Grant an option (the “Option Right”) to purchase 200,000 Common Shares, at the
price of $47.25 per share (the “Option Price”). 
This Option Right is intended to be a nonqualified stock option and
shall not be treated as an “incentive stock option” within the meaning of that
term under Section 422 of the Code.

2.                                       Exercise of Option Right.

(a)                                  Unless and until
terminated as hereinafter provided, the Option Right will become exercisable as
set forth in Table I below:

TABLE I

	
  Option

  	
   

  	
  Number of Shares

  	
   

  	
  Number of Shares

  	
   

  
	
  Vesting Dates

  	
   

  	
  Vested - Installments

  	
   

  	
  Vested - Total

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  June 21, 2007

  	
   

  	
  66,667

  	
   

  	
  66,667

  	
   

  
	
  June 21, 2008

  	
   

  	
  66,667

  	
   

  	
  133,334

  	
   

  
	
  June 21, 2009

  	
   

  	
  66,666

  	
   

  	
  200,000

  	
   

  

 

(b)                                 Notwithstanding
the provisions of Section 2(a), the Option Right will become immediately
exercisable in full if, prior to the date the Option Right becomes fully
exercisable pursuant to Section 2(a), (i) the Optionee ceases to be an employee
of the Company or any Subsidiary as a result of his death, Disability,
Retirement, involuntary termination by the Company for other than gross or
willful misconduct, or termination by Optionee for “Good Reason” (as defined in
the Employment Agreement between the Company and the Optionee dated June 5,
2007), or (ii) a Change in Control occurs while the Optionee is in the employ
of the Company and its Subsidiaries, subject to Section 15(n) of the Program.

3.                                       Forfeiture of Option Right.  The Option Right
shall be forfeited (to the extent it has not become exercisable pursuant to
Section 2) if the Optionee ceases to be continuously employed by the Company
and its Subsidiaries.

 1
 

4.                                       Payment of Option
Price.  The Option Price is payable (a) in cash or by
certified or cashier’s check or other cash equivalent acceptable to the Company
payable to the order of the Company, or (b) any other method approved by the
Company.

5.                                       Term of Option Right.  The
Option Right will terminate on the earliest of the following dates:

(a) Ninety days after the Optionee ceases to be an employee of the Company or
any Subsidiary unless the cessation is as a result of his death, Disability,
Retirement, involuntary termination by the Company for other than gross or
willful misconduct, or termination by Optionee for “Good Reason” (as defined in
the Employment Agreement between the Company and the Optionee dated June 5,
2007) in which case the Option Right will terminate as provided in Section 5(b)
below; or

(b)
Ten years from the Date of Grant (i.e., June 20, 2017).

6.                                       Transferability. 
Except with the consent of the Compensation Committee (the “Committee”),
the Option Right may not be sold, exchanged, assigned, transferred, pledged,
encumbered or otherwise disposed of by the Optionee; provided, however, that
the Optionee’s rights with respect to such Option Right may be transferred by
will or pursuant to the laws of descent and distribution.

7.                                       No Employment Contract.  Nothing contained
in this Agreement shall confer upon the Optionee any right with respect to
continuance of employment by the Company and its Subsidiaries, nor limit or
affect in any manner the right of the Company and its Subsidiaries to terminate
the employment or adjust the compensation of the Optionee.

8.                                       Taxes and Withholding.  To
the extent that the Company shall be required to withhold any federal, state,
local or other taxes in connection with Common Shares obtained upon the
exercise of the Option Right, and the amounts available to the Company for such
withholding are insufficient, it shall be a condition to the delivery of such
Common Shares that the Optionee shall pay such taxes or make provisions that
are satisfactory to the Company for the payment thereof.  The Optionee may elect to satisfy all or any
part of any such withholding obligation by surrendering to the Company a portion
of the Common Shares that are delivered to the Optionee upon the exercise of
the Option Right, and the Common Shares so surrendered by the Optionee shall be
credited against any such withholding obligation at the Market Value per Share
of such shares on the date of such surrender.

9.                                       Amendments. 
Subject to the terms of the Program, the Committee may modify this
Agreement upon written notice to the Optionee. 
Any amendment to the Program shall be deemed to be an amendment to this
Agreement to the extent that the amendment is applicable hereto.

10.                                 Severability.  In
the event that one or more of the provisions of this Agreement shall be
invalidated for any reason by a court of competent jurisdiction, any provision
so invalidated shall be deemed to be separable from the other provisions
hereof, and the remaining provisions hereof shall continue to be valid and
fully enforceable.

11.                                 Relation to Program.  The
Option Right granted under this Agreement and all the terms and conditions
hereof are subject to the terms and conditions of the Program.  This Agreement and the Program contain the
entire agreement and understanding of the parties with respect to the subject
matter contained in this Agreement, and supersede all prior communications,
representations and negotiations in respect thereto.  In the event of any inconsistency between the
provisions of this Agreement and the Program, the Program shall govern.  Capitalized terms used herein without
definition shall have the meanings assigned to them in the Program.  The Committee acting pursuant to the Program,
as constituted 

 2
 

from time to time, shall, except as expressly
provided otherwise herein, have the right to determine any questions which
arise in connection with the grant or exercise of the Option Right.

12.                                 Successors and Assigns. 
Without limiting Section 6  hereof,
the provisions of this Agreement shall inure to the benefit of, and be binding
upon, the successors, administrators, heirs, legal representatives and assigns
of the Optionee, and the successors and assigns of the Company.

13.                                 Notices.  Any
notice to the Company provided for herein shall be in writing to the Company
and any notice to the Optionee shall be addressed to the Optionee at his or her
address on file with the Company.  Except
as otherwise provided herein, any written notice shall be deemed to be duly
given if and when delivered personally or deposited in the United States mail,
first class certified or registered mail, postage and fees prepaid, return
receipt requested, and addressed as aforesaid. 
Any party may change the address to which notices are to be given
hereunder by written notice to the other party as herein specified (provided
that for this purpose any mailed notice shall be deemed given on the third
business day following deposit of the same in the United States mail).

IN WITNESS WHEREOF, the Company has caused this Agreement to
be executed on its behalf by its duly authorized officer and the Optionee has
also executed this Agreement in duplicate, as of the day and year first above
written.

	
  

  	
  CARLISLE COMPANIES INCORPORATED

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ Steven J. Ford

  	
   

  
	
   

  	
  Name:

  	
  Steven J. Ford

  
	
   

  	
  Title:

  	
  Vice President, Secretary and General Counsel

  
					

 

The undersigned hereby acknowledges receipt of an executed
original of this Agreement and accepts the award of the Option Right granted
thereunder on the terms and conditions set forth herein and in the Program.

	
  

  	
   

  	
  /s/ David A. Roberts

  	
   

  
	
   

  	
   

  	
        David A. Roberts

  
	
   

  	
  Date:

  	
   

  	
  7/5/07

  	
   

  
						

 

 3Exhibit 10.2

CARLISLE COMPANIES INCORPORATED

RESTRICTED SHARE AGREEMENT

This Agreement (the “Agreement”) is made as of June 21, 2007
(the “Date of Grant”) by and between Carlisle Companies Incorporated (the “Company”)
and David A. Roberts (the “Grantee”).

1.                                       Grant of Restricted Shares.  Subject to and upon
the terms, conditions and restrictions set forth in this Agreement and in the
Company’s Executive Incentive Program (the “Program”), the Company hereby
grants to the Grantee as of the Date of Grant 100,000 Common Shares as
Restricted Shares (the “Restricted Shares”). 
The Restricted Shares shall be fully paid and nonassessable and shall be
represented by a crtificate or certificates registered in the Grantee’s name,
endorsed with an appropriate legend referring to the restrictions hereinafter
set forth.

2.                                       Restrictions on Transfer of Restricted Shares.  The Restricted
Shares may not be sold, exchanged, assigned, transferred, pledged, encumbered
or otherwise disposed of by the Grantee, except to the Company, until the
Restricted Shares have become nonforfeitable as provided in Section 3 hereof; provided,
however, that the Grantee’s rights with respect to such Common Shares
may be transferred by will or pursuant to the laws of descent and
distribution.  Any purported transfer or
encumbrance in violation of the provisions of this Section 2 shall be void, and
the other party to any such purported transaction shall not obtain any rights
to or interest in such Common Shares.

3.                                       Vesting of Restricted Shares.  The Restricted
Shares shall become nonforfeitable as follows: 
(i) 20,000 Restricted Shares on June 21, 2008, (ii) 20,000 Restricted
Shares on June 21, 2009, (iii) 20,000 Restricted Shares on June 21, 2010, (iv)
20,000 Restricted Shares on June 21, 2011, and (v) 20,000 Restricted Shares on
June 21, 2012; provided, in each case that the Grantee shall have remained in
the continuous employ of the Company and its Subsidiaries until such
dates.  Subject to the terms of the Program
and notwithstanding the preceding sentence, all of the Restricted Shares shall
immediately become nonforfeitable if, prior to the date the Restricted Shares
become fully nonforfeitable pursuant to the preceding sentence, and while the
Grantee is in the employ of the Company and its Subsidiaries, (a) the Grantee
dies, (b) the Grantee’s Disability occurs, (c) the Grantee’s Retirement occurs,
(d) the involuntary termination of the Grantee by the Company for other than
gross or willful misconduct, (e) the termination by the Grantee for “Good Reason”
(as defined in the Employment Agreement between the Company and the Grantee
dated June 5, 2007), or (f) a Change in Control occurs.

4.                                       Forfeiture of Shares.  The Restricted
Shares shall be forfeited if the Grantee ceases to be continuously employed by the
Company and its Subsidiaries prior to the date the Restricted Shares become
fully nonforfeitable pursuant to Section 3. 
In the event of a forfeiture, the certificate(s) representing the
Restricted Shares covered by this Agreement shall be canceled.

5.                                       Dividend, Voting and Other Rights.  Except as otherwise
provided herein, from and after the Date of Grant, the Grantee shall have all
of the rights of a stockholder with respect to the Restricted Shares, including
the right to vote the Restricted Shares and receive any dividends that may be
paid thereon; provided, however, that any additional Common
Shares or other securities that the Grantee may become entitled to receive
pursuant to a stock dividend, stock split, combination of shares,
recapitalization, merger, consolidation, separation or reorganization or any
other change in the capital structure of the Company shall be subject to the
same restrictions as the Restricted Shares covered by this Agreement.  The Grantee acknowledges that the Restricted
Shares are being acquired for investment and that the Grantee has no current
intention to transfer, sell or otherwise dispose of such shares, except as
permitted by the Program and in compliance with Applicable Laws.

 1
 

6.                                       Retention of Stock Certificate(s) by the
Company. 
The certificate(s) representing the Restricted Shares shall be held in
custody by the Company, together with a stock power endorsed in blank by the
Grantee with respect thereto, until those shares have become nonforfeitable in
accordance with Section 3 of this Agreement. 
The Grantee hereby irrevocably appoints any officer of the Company as
his or her attorney-in-fact to transfer the Restricted Shares to the Company in
the event of the forfeiture of such shares.

7.                                       No Employment Contract.  Nothing contained in
this Agreement shall confer upon the Grantee any right with respect to
continuance of employment by the Company and its Subsidiaries, nor limit or
affect in any manner the right of the Company and its Subsidiaries to terminate
the employment or adjust the compensation of the Grantee.

8.                                       Taxes and Withholding.  To the extent that
the Company shall be required to withhold any federal, state, local or other
taxes in connection with the issuance or vesting of the Restricted Shares, and
the amounts available to the Company for such withholding are insufficient, the
Grantee shall pay such taxes or make provisions that are satisfactory to the
Company for the payment thereof.

9.                                       Amendments.  Subject to the terms of the Program, the
Board may modify this Agreement upon written notice to the Grantee.  Any amendment to the Program shall be deemed
to be an amendment to this Agreement to the extent that the amendment is
applicable hereto.  Any waiver of any
term or condition or breach of this Agreement shall not be a waiver of any
other term or condition or of the same term or condition.

10.                                 Severability.  In the event that one or more of the
provisions of this Agreement shall be invalidated for any reason by a court of
competent jurisdiction, any provision so invalidated shall be deemed to be
separable from the other provisions hereof, and the remaining provisions hereof
shall continue to be valid and fully enforceable.

11.                                 Relation to Program.  This Agreement is
subject to the terms and conditions of the Program.  This Agreement and the Program contain the
entire agreement and understanding of the parties with respect to the subject
matter contained in this Agreement, and supersede all prior communications,
representations and negotiations in respect thereto.  In the event of any inconsistency between the
provisions of this Agreement and the Program, the Program shall govern.  Capitalized terms used herein without
definition shall have the meanings assigned to them in the Program.  The Compensation Committee acting pursuant to
the Program, as constituted from time to time, shall, except as expressly
provided otherwise herein, have the right to determine any questions which
arise in connection with the grant of Restricted Shares.

12.                                 Successors and Assigns.  Without limiting
Section 2 hereof, the provisions of this Agreement shall inure to the benefit
of, and be binding upon, the successors, administrators, heirs, legal
representatives and assigns of the Grantee, and the successors and assigns of
the Company.

 2
 

IN WITNESS WHEREOF, the Company has caused this Agreement to
be executed on its behalf by its duly authorized officer and the Grantee has
also executed this Agreement in duplicate, as of the day and year first above
written.

	
  

  	
  CARLISLE COMPANIES INCORPORATED

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/  Steven
  J. Ford

  	
   

  
	
   

  	
  Name:

  	
  Steven J. Ford

  
	
   

  	
  Title:

  	
  Vice President, Secretary and General Counsel

  

 

 

The undersigned hereby acknowledges
receipt of an executed original of this Agreement and accepts the award of
Restricted Shares granted thereunder on the terms and conditions set forth
herein and in the Program.

 

	
  

  	
   

  	
  /s/ David A.
  Roberts

  	
   

  
	
   

  	
   

  	
  David A. Roberts

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Date:

  	
   

  	
  7/5/07

  	
   

  
						

 

 3

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