Document:

Exhibit 10.18

Exhibit 10.18

 

RESTRICTED STOCK AWARD AGREEMENT

UNDER THE SYSCOMM INTERNATIONAL CORPORATION 2001 FLEXIBLE STOCK PLAN

This RESTRICTED
STOCK AWARD AGREEMENT (the “Agreement”) is made as of [INSERT DATE OF GRANT]
(the “Grant Date”) between Steel Vault Corporation, f/k/a SysComm International
Corporation, a Delaware corporation (the “Company”), and
[INSERT NAME OF GRANTEE] (the “Grantee”).

Background Information

A. The Compensation Committee has granted to the Grantee an award of [INSERT APPLICABLE
NUMBER] restricted shares of common stock, par value $0.01 per share (the “Common Stock”), of the
Company (the “Award”) pursuant to the Company’s 2001 Flexible Stock Plan (the “2001 Plan”).

B. The Company and the Grantee are entering into this Agreement in order to evidence the
Award, which shall be governed in all respects by the terms and provisions hereof.

C. The Grantee desires to accept the Award grant and agrees to be bound by the terms and
conditions of this Agreement.

D. This Agreement shall be subject to and governed by the 2001 Plan, which is incorporated
herein by reference. For purposes of such incorporation, all references in such sections to the
term “Plan” shall be deemed to be references to this Agreement.

Agreement

1. Restricted Stock. Subject to the terms and conditions provided in this Agreement,
the Company hereby grants to the Grantee [INSERT APPLICABLE NUMBER] shares of Common Stock (the
“Restricted Stock”) as of the Grant Date. The extent to which the Grantee’s rights and interest in
the Restricted Stock becomes vested and non-forfeitable shall be determined in accordance with the
provisions of Sections 2 and 3 of this Agreement.

2. Vesting. Except as may be otherwise provided in Section 3 of this Agreement, the
vesting of the Grantee’s rights and interest in the Restricted Stock shall be determined in
accordance with this Section 2. The Grantee’s rights and interest in the Restricted Stock shall
become fully vested and non-forfeitable and shall cease being restricted on [INSERT APPLICABLE
DATE/EVENT], provided that (1) the Grantee does not resign prior to [INSERT APPLICABLE DATE/EVENT]
and (2) the Company does not terminate the employment of the Grantee for cause prior to [INSERT
APPLICABLE DATE/EVENT], with said cause being defined as a conviction of a felony or Grantee’s
being prevented from providing services hereunder as a result of Grantee’s violation of any law,
regulation and/or rule.

3. Change of Control. In the event of a Change of Control (as defined in the 2001
Plan), Restricted Stock that is not yet vested on the date such Change of Control is determined to
have occurred shall become fully vested on the date such Change of Control is determined to have
occurred.

4. Restrictions on Transfer; Legending of Shares. Until such time as any share of
Restricted Stock becomes vested pursuant to Section 2 or Section 3 of this Agreement, the Grantee
shall not have the right to make or permit to occur any transfer, pledge or hypothecation of all or
any portion of the Restricted Stock, whether outright or as security, with or without
consideration, voluntary or involuntary. Any transfer, pledge or hypothecation not made in
accordance with this Agreement shall be deemed null and void. The certificate evidencing the
Restricted Stock shall contain a legend in substantially the following form:

“The shares evidenced by this certificate are subject to restrictions on transfer set forth in the
Restricted Stock Award Agreement, dated [INSERT APPLICABLE
DATE], between Steel Vault Corporation
(the “Company”) and [INSERT NAME OF GRANTEE], a copy of which may be obtained from the Company at
its principal executive offices.”

“The shares of common stock of the Company represented hereby have not been registered under the
Securities Act of 1933, as amended, or applicable state securities laws and may not be transferred,
pledged, hypothecated or otherwise disposed of in the absence of an effective registration
statement covering such shares under that Act and any applicable state securities laws, unless, in
the opinion of counsel satisfactory to the Company, an exemption from registration thereunder is
available.”

 

 

 

5. Forfeiture. The Grantee shall forfeit all of his rights and interest in the
Restricted Stock if the Grantee resigns or the Company terminates the employment of the Grantee for
cause (as defined in Section 2 above) before the Restricted Stock becomes fully vested in
accordance with Section 2 or Section 3 of this Agreement.

6. Shares Held by Custodian; Rights to Dividends and Voting Rights. The Grantee hereby
authorizes and directs the Company to deliver any share certificate issued by the Company to
evidence the award of Restricted Stock to the Secretary of the Company or such other officer of the
Company (other than the Grantee) as may be designated by the Company’s Board of Directors or the
Compensation Committee of such Board (the “Share Custodian”) to be held by the Share Custodian
until the Restricted Stock becomes fully vested in accordance with Section 2 or Section 3 of this
Agreement. When the Restricted Stock becomes vested, the Share Custodian shall deliver to the
Grantee (or his beneficiary in the event of death) a certificate representing the vested Restricted
Stock (which then will be unrestricted) and may delete the first paragraph of the legend set forth
in Section 4 above. The Grantee hereby irrevocably appoints the Share Custodian, and any successor
thereto, as the true and lawful attorney-in-fact of the Grantee with full power and authority to
execute any stock transfer power or other instrument necessary to transfer the Restricted Stock to
the Company, or to transfer the Restricted Stock to the Grantee on an unrestricted basis upon
vesting, pursuant to this Agreement, in the name, place, and stead of the Grantee. The term of such
appointment shall commence on the Grant Date and shall continue until the Restricted Stock becomes
vested or is forfeited. During the period that the Share Custodian holds the shares of Restricted
Stock subject to this Section 6, the Grantee shall be entitled to all rights applicable to shares
of Common Stock of the Company not so held, including the right to vote and receive dividends, but
provided, however, in the event of (i) any change in the Common Stock of the Company by reason of
any stock dividend, spin-off, split-up, spin-out, recapitalization, merger, consolidation,
reorganization, combination or exchange of shares or (ii) any distribution of Common Stock or other
securities of the Company in respect of such shares of Common Stock, the Grantee agrees that any
certificate representing shares of such additional Common Stock or other securities of the Company
issued as a result of any of the foregoing shall be delivered to the Share Custodian and shall be
subject to all of the provisions of this Agreement as if initially received hereunder.

7. Tax Consequences. Upon the occurrence of a vesting event specified in Section 2 or
Section 3 above, the Grantee must satisfy the federal, state, local or foreign income and social
insurance withholding taxes imposed by reason of the vesting of the Restricted Stock. The Grantee
shall make an election with respect to the method of satisfaction of such tax withholding
obligation in accordance with procedures established by the Compensation Committee of the Company’s
Board of Directors. The Company shall reimburse the Grantee in an amount equal to all of the
federal, state, local or foreign taxes imposed on the Grantee as a result of the Award (including
the amount of additional taxes imposed upon the Grantee due to the Company’s payment of the
aforementioned taxes on the Award) no later than March 15, 2009.

The Grantee understands that the Grantee may elect to be taxed at the Grant Date rather than
when the Restricted Stock becomes vested by filing with the Internal Revenue Service an election
under section 83(b) of the Internal Revenue Code of 1986, as amended (the “Code”), within thirty
(30) days from the Grant Date. The Grantee acknowledges that it is the Grantee’s sole
responsibility, and not the Company’s responsibility, to timely file the Code section 83(b)
election with the Internal Revenue Service if the Grantee intends to make such an election.

8. No Effect on Employment. Nothing in this Agreement shall confer upon the Grantee
the right to continue in the employment of the Company or affect any right which the Company may
have to terminate the employment of the Grantee regardless of the effect of such termination of
employment on the rights of the Grantee or this Agreement.

9. Governing Laws. This Agreement shall be construed and enforced in accordance with
the laws of the State of Florida, without regard to any applicable conflicts of law. By accepting
this Award, the Grantee irrevocably and unconditionally consents to submit to the exclusive
jurisdiction of the courts of the State of Florida or of the United States of America, in each case
located in Palm Beach County, Florida, for any litigation arising out of or relating to this
Agreement (and agrees not to commence any litigation relating thereto except in such courts). The
Grantee also irrevocably and unconditionally waives any objection to the laying of venue of any
litigation arising out of or related to this Award in the courts of the State of Florida or of the
United States of America, in each case located in Palm Beach County, Florida, and hereby further
irrevocably and unconditionally waives and agrees not to plead or claim in any such court that any
such litigation brought in any such court has been brought in an inconvenient forum.

 

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10. Successors. This Agreement shall inure to the benefit of, and be binding upon, the
Company and the Grantee and their heirs, legal representatives, successors and permitted assigns.

11. Severability. In the event that any one or more of the provisions or portion
thereof contained in this Agreement shall for any reason be held to be invalid, illegal or
unenforceable in any respect, the same shall not invalidate or otherwise affect any other
provisions of this Agreement, and this Agreement shall be construed as if the invalid, illegal or
unenforceable provision or portion thereof had never been contained herein.

12. Notices. All notices required or permitted hereunder shall be in writing and shall
be deemed effectively given: (a) upon personal delivery to the party to be notified; (b) when sent
by confirmed facsimile if sent during normal business hours of the recipient, if not, then on the
next business day; (c) three (3) business days after having been sent by registered or certified
mail, return receipt requested, postage prepaid; or (d) one (1) day after deposit with a nationally
recognized overnight courier, specifying next day delivery, with written verification of receipt.
All communications shall be sent as follows:

If to the Company:

Steel
Vault Corporation

1690 South Congress Avenue, Suite 200

Delray Beach, Florida 33445

If to Grantee:

[INSERT NAME OF GRANTEE]

[INSERT HOME ADDRESS OF GRANTEE]

13. Entire Agreement. Subject to paragraph D in the section of this Agreement under
the heading “Background Information,” this Agreement expresses the entire understanding and
agreement of the parties hereto with respect to the terms and conditions of this Award.

14. Headings. Section headings used herein are for convenience of reference only and
shall not be considered in construing this Agreement.

15. Additional Acknowledgements. By their signatures below (including electronic
signatures), the Grantee and the Company agree that the Restricted Stock is granted under and
governed by the terms and conditions of this Agreement. Grantee has reviewed the terms of this
Agreement, has had an opportunity to obtain the advice of counsel prior to executing this Agreement
and fully understands all provisions of this Agreement. Grantee hereby agrees to accept as binding,
conclusive and final all decisions or interpretations of the Compensation Committee of the
Company’s Board of Directors upon any questions relating to this Agreement.

IN WITNESS WHEREOF, the Company and the Grantee have executed this Agreement as of the Grant
Date set forth above.

	 	 	 	 	 
	 	 	Steel Vault Corporation
	 
	 	 	 	 
	 

	 	By:
	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 	 	GRANTEE:
	 
	 	 	 	 
	 	 	 
	 	 	[INSERT NAME OF GRANTEE]

 

3Exhibit 10.19

Exhibit 10.19

STOCK
OPTION AGREEMENT
UNDER
THE SYSCOMM INTERNATIONAL CORPORATION 2001 FLEXIBLE STOCK PLAN

THIS STOCK OPTION AGREEMENT (this “Agreement”) made as of
                    , 2008
(the “Grant Date”) between Steel Vault Corporation, f/k/a
SysComm International Corporation, a Delaware Corporation (hereinafter called the
“Company”), and                     
(hereinafter called the “Optionee”), a Participant (as
such term is defined in the Plan) under the Plan (as such term is defined below) of the Company.

WITNESSETH

WHEREAS, as of March 29, 2001, the 2001 Flexible Stock Option Plan (hereinafter called the
“Plan”) was approved by the stockholders of the Company;

WHEREAS, the Plan is administered by the Stock Option and Compensation Committee of the Board
of Directors (the “Committee”);

WHEREAS, the Committee has determined that, as a consultant to the Company, the Optionee is
eligible to receive a grant of an option under the Plan subject to the terms and conditions
hereinafter contained;

NOW, THEREFORE, in consideration of the premises and mutual agreements contained herein, and
for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Company and the Optionee agree as follows:

1. Grant of Option. The Company, subject to the terms and conditions of this Agreement
and the Plan, which are incorporated hereto by reference, hereby grants to the Optionee, effective
                    ,
20           (the “Grant Date”), the right to purchase from the
Company at a price of $                     per share (the “Exercise Price”) an aggregate
of                      (                    ) shares of Common Stock (the
“Option”), purchasable as set forth in, and subject to the terms and conditions of, this Agreement.

The Option is not intended to qualify as an incentive stock option under Section 422 of the
Internal Revenue Code of 1986, as amended (the “Code”).

2. Nontransferable. The Option is not transferable by the Optionee otherwise than by
will or the laws of descent and distribution, and is exercisable, during the lifetime of the
Optionee, only by the Optionee or by his/her guardian or legal representative.

3. Vesting and Exercisability of Option. Subject to the limitations on exercise in
Section 7 of this Stock Option Agreement, the Optionee’s interest in the Option shall vest and be
exercisable immediately on the Grant Date.

4. Term of Option. The Option shall expire and terminate and cease to be exercisable
with respect to any shares of Common Stock at 5:00 p.m. on [ENTER 10TH ANNIVERSARY OF
GRANT DATE].

 

 

 

5. Exercise of Option.

The Option may be exercised only by written notice to the Secretary of the Company as provided
in paragraph 10 hereof. Such notice, shall state the election to exercise the Option, the manner of
payment of the option price and the number of shares in respect of which it is being exercised and
shall be signed by the Optionee. The certificate or certificates of the shares as to which the
Option shall have been exercised will be registered only in the name of the person exercising the
Option. In the event the option becomes exercisable by another person or persons upon the death of
the Optionee, the notice of exercise shall be accompanied by appropriate proof of the right to
exercise the Option. The Option may not be exercised at any one time as to fewer than 100 shares of
Common Stock (or such number of shares as to which the Option is then exercisable if such number is
less than 100).

6. Payment of Exercise Price.

Payment of the aggregate Exercise Price and any applicable withholding taxes may be made by
one of the following methods:

(a) By cash, certified or cashiers’ check, bank draft or money order; or

(b) Through a “cashless exercise sale and remittance procedure” pursuant to which the Optionee
shall concurrently provide irrevocable instructions (1) to a brokerage firm approved by the Company
to effect the immediate sale of the purchased shares and remit to the Company, out of the sales
proceeds available on the settlement date, sufficient funds to cover the aggregate Exercise Price
payable through the purchased shares plus applicable federal, state and local income, employment,
excise, foreign and other taxes required to be withheld by the Company by reason of such exercise
and (2) to the Company to deliver the certificates for the purchased shares directly to such
brokerage firm in order to complete the sale.

The Optionee shall not have any of the rights of a stockholder of the Company with respect to
the shares delivered upon any exercise of the Option unless and until certificates representing
such shares shall have been delivered to the Optionee.

 

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7. Maximum Exercise.

(a) Notwithstanding anything herein to the contrary, in no event will the Optionee be entitled
to exercise any portion of the Option in excess of that portion of any stock options of the Company
issued to Optionee that, upon exercise, the sum of which (i) the number of shares of common stock
of the Company beneficially owned by Optionee (other than shares of common stock that may be deemed
beneficially owned through the ownership of the unexercised portion of any stock options of the
Company issued to Optionee or the unexercised or unconverted portion of any other security of
Optionee subject to a limitation on conversion analogous to the limitations contained herein) and
(ii) the number of shares of common stock of the Company issuable upon the exercise of the portion
of Optionee’s Option with respect to which the
determination of this proviso is being made, would result in Beneficial Ownership by Optionee and his or her
Affiliates of any amount greater than 4.99% of the then outstanding shares of common stock of the
Company (whether or not, at the time of such exercise, the Optionee and his or her Affiliates
beneficially own more than 4.99% of the then outstanding shares of common stock of the Company). In
the event the Optionee is not able to exercise any portion of the Option due to the exercise
limitations of this Section 7(a), such unexercised portion of the Option will remain outstanding
until the earlier to occur of (x) the Optionee’s exercise of the unexercised portion in accordance
with the terms and conditions of this Stock Option Agreement, including this Section 7, or (y)
[ENTER 10TH ANNIVERSARY OF Grant Date]. However, the limitations imposed by this
Section 7 do not apply to an Option exercised by the Optionee in accordance with the “cashless
exercise sale and remittance procedure” set forth in Section 6(b) of this Agreement.

(b) As used in this Section 7, the term “Affiliate” means any person or entity that, directly
or indirectly through one or more intermediaries, controls or is controlled by or is under common
control with a person or entity, as such terms are used in and construed under Rule 144 under the
Securities Act of 1933, as amended (the “Securities Act”). As used in this Section 7, the term
“Beneficial Ownership” shall be determined in accordance with Section 13(d) of the Securities
Exchange Act of 1934, as amended, and Regulations 13D-G thereunder, except as otherwise provided in
this Section 7(a)(i) above.

8. Compliance with Applicable Laws.

The Optionee agrees that any resale of the shares received upon any exercise of the Option
shall be made in compliance with the registration requirements of the Securities Act of 1933 as
amended or an applicable exemption therefrom and to promptly provide the Company with such
representations, certificates and other assurances of compliance with such registration
requirements as the Company shall from time to time reasonably request. If the Optionee is an
“affiliate” of the Company within the meaning of Rule 144 under such Act, the Optionee agrees that
any resale of the shares received upon the exercise of the Option shall be made in compliance with
the registration requirements of such Act or an applicable exemption therefrom, including without
limitation the exemption provided by Rule 144.

9. Authority of Committee.

The Committee shall have final authority to interpret and construe the Plan and this Agreement
and to make any and all determinations under them, and its decision shall be binding and conclusive
upon the Optionee and his/her legal representative in respect of any questions arising under the
Plan or this Agreement.

 

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10. Notices.

Any notice to be given to the Company shall be addressed to the Chief Financial Officer of the
Company, 1690 S. Congress Ave.; Suite 200; Delray Beach, FL 33445 and any notice to be given to the
Optionee shall be addressed to him/her at his/her residence as it may appear on the records of the
Company or at such other address as either party may hereafter designate in writing to the other.

11. Agreement Binding.

This Agreement shall be binding upon and inure to the benefit of the parties hereto and any
successors to the business of the Company, but this Agreement shall not be assignable by the
Optionee.

12. Withholding.

The Company and the Optionee agree the Company shall, to the extent permitted or required by
law, have the right to deduct federal, state and local taxes of any kind required by law to be
withheld upon the exercise of this Option from any payment of any kind otherwise due to the
Optionee.

13. Counterparts.

This Agreement may be executed in any number of counterparts, which may be by facsimile, each
of which shall constitute an original and all of which together shall constitute one and the same
instrument.

 

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IN WITNESS WHEREOF, this Agreement has been executed by the parties hereto as of the date and
year first written.

Steel
Vault Corporation

	 	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

	 	 
	 
	 	 	 	 
	 	 	 
	[OPTIONEE], Optionee
	 	 

 

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