Document:

Exhibit
10.35

 

STOCK
OPTION AWARD AGREEMENT

UNDER THE

CITY
NATIONAL CORPORATION

2002 AMENDED
AND RESTATED OMNIBUS PLAN

 

This Stock Option
Agreement is made and entered into as of <Date>, by and
between City National Corporation, a
Delaware corporation (the “Company”), and <Colleague Name>, an employee
of the Company or a subsidiary of the Company (the “Optionee”), with reference
to the following:

 

A.                                   On April 28, 2004 the shareholders of the
Company adopted the City National Corporation 2002 Amended and Restated Omnibus
Plan as amended from time to time thereafter, (the “Plan”), pursuant to which
the Compensation, Nominating & Governance Committee of the Board of
Directors (the “Committee”) may grant selected officers and other Company or
Company subsidiary employees options to purchase shares of the Company’s common
stock, $1.00 par value (the “Stock”).

 

B.                                     The
Committee has determined to grant Optionee an option to purchase shares of
Stock pursuant to the terms and conditions of this Agreement.  This option is not an Incentive Stock Option,
as that term is defined in Section 422 of the Internal Revenue Code and
Treasury regulations thereunder.

 

NOW,
THEREFORE, in consideration of the foregoing recitals and the
performance of the mutual covenants contained herein, it is hereby agreed as
follows:

 

1.                                      Grant
of Option.  The Company hereby grants
to Optionee the right and option to purchase (the “Option”), upon the terms and
conditions set forth in this Agreement, all or any part of the following number
of shares of Stock at the following price per share:

 

	
  Number
  of Shares

  	
   

  	
  Price Per Share

  
	
   

  	
   

  	
   

  
	
  <#
  Options>

  	
   

  	
  <Grant
  Price>

  

 

The number of shares
subject to the Option and the Option exercise price are subject to adjustment
in certain events, as provided in the Plan.

 

2.                                      Time
of Exercise.  The Option will vest
and may be exercised at any time and from time to time after the dates set
forth in the following schedule and before the Termination Date (as
defined below) as to all or any number of full shares not exceeding in the
aggregate that percentage of all of the shares set forth opposite each such
date:

 

	
  Time
  from

  Date of Grant

  	
   

  	
  Options

  Vesting

  	
   

  	
  Total Percentage of Shares as to which Options

  May be Exercised

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  After 1 year

  	
   

  	
  25%

  	
   

  	
  25%

  
	
  After 2 years

  	
   

  	
  25%

  	
   

  	
  50%

  
	
  After 3 years

  	
   

  	
  25%

  	
   

  	
  75%

  
	
  After 4 years

  	
   

  	
  25%

  	
   

  	
  100%

  
	
  After 10 years

  (the”Termination Date”)

  	
   

  	
   

  	
   

  	
  Any unexercised
  Options will expire at this time

  

 

1

 

Notwithstanding the
foregoing, all of the Options shall immediately vest on the earlier of (i)
subject to the discretion of the Committee, the occurrence of a Change in
Control Event (as such term is defined in the Plan), or (ii) the date Optionee’s
employment with the Company is terminated by reason of death, Total Disability
or Retirement. In the event Colleague’s employment is terminated for any other
reason, including retirement prior to age sixty-five with the approval of the
Company or employing subsidiary, the Committee or its delegate, as appropriate,
may, in the Committee’s or such delegate’s sole discretion, approve the vesting
as to any or all Options still subject to vesting, such vesting to be effective
on the date of such approval or Optionee’s termination date, if later.

 

3.                                      Method
of Exercise.  The Option or any part
thereof may be exercised by giving written notice of exercise to the Company,
sent directly to the Controller’s Department, which notice must state the
number of full shares to be purchased, and must be accompanied by payment in
full for the number of shares to be purchased. 
Subject to the Company’s Securities Trading Policy as may be in effect
from time to time, such payment may be in cash, in shares of Stock, or in a
broker-assisted same-day sale transaction or a combination thereof.  If any part of such payment consists of
Stock, such Stock must have been owned for at least six months and will be
valued at the last sale price of such Stock as reported by the New York Stock
Exchange on the date of exercise. If Optionee’s notice is received by the
Controller’s Office before 1:00 p.m (PT), the date of exercise of the Option,
will be the date of receipt by the Controller’s Office.  The exercise date for notices received after
1:00 p.m. (PT) will be the business day following the date of receipt by the
Controller’s Office.  Not less than 100
shares may be purchased at any one time unless the shares purchased are all of
the shares then purchasable under the Option.

 

The Company will issue
and deliver to Optionee a certificate for the number of shares purchased;
provided, however, that if any federal or state law or regulation of any
securities exchange listing the Company’s shares requires the Company to take
any action with respect to the exercised share before issuance thereof, then
the date for issuance and delivery of such shares will be extended for the
period of time necessary to take such action.

 

4.                                      Withholding
of Tax.  The exercise of
Non-Qualified Stock Options may result in income to you for federal or state
tax purposes.  To the extent that you
become subject to taxation, you shall deliver to the Company at the time of
such exercise such amount of money or shares of unrestricted Stock, as the
Company may require to meet its withholding obligation under applicable tax
laws or regulations.  If you fail to do
so, the Company is authorized to withhold from any cash or stock remuneration
then or thereafter payable to you any tax required to be withheld by reason of
such resulting compensation income.  If
you exercise Stock Options through a cashless transaction, taxes will be
withheld from the proceeds of the sale of Shares.   Your delivery of Shares to meet the tax
withholding obligation is subject to the Company’s Securities Trading Policy as
may be in effect from time to time.  You
must have owned any stock you deliver for at least six months. Any Stock you
deliver or which is withheld by the Company will be valued on the date of which
the amount of tax to be withheld is determined. 
Any fractional shares of stock resulting from withholding of taxes will
be paid to you in cash.

 

5.                                      Expiration
of Options after Termination.  Stock
Options and all rights granted under this Agreement, to the extent such rights
have not been exercised, will terminate on the earlier of the Termination Date
or the earliest to occur of the following:

 

5.1              Immediately
upon termination of Optionee’s employment for cause, as determined by the
Committee.

 

2

 

5.2              If
the employment of the Optionee terminates for any reason other than for cause,
death, Retirement, Total Disability or disability, three (3) months after the
date of such termination.

 

5.3              If
Optionee’s employment terminates by reason of Retirement, Total Disability or
disability, three (3) years after the date of such termination.

 

5.4              If
Optionee dies while employed by the Company or within three (3) months after
Optionee’s employment is terminated under the conditions specified in
subparagraph 5.2 or 5.3 above, one (1) year after death.  After the Optionee’s death, the Option and
all rights granted under this Agreement, to the extent such rights will not
theretofore have been exercised, may be exercised by Optionee’s designated
beneficiary, or if none, by the Optionee’s personal representative or by the
person or persons to whom the Option will pass by will or by the applicable
laws of descent and distribution.

 

Termination of Optionee’s
employment with the Company to accept employment with a subsidiary of the
Company, or vice versa or to go on leave of absence at the request, or with the
approval, of the Company will not be deemed a termination of employment for the
for the purpose of this paragraph.  In
the event of termination of employment under subparagraph 5.2 above, Optionee
may exercise the Option only to the extent vested under paragraph 2 above on
the date of termination.

 

6.                                      Limitation
on Transfer.  Except as otherwise
provided in subparagraph 5.4 above, or pursuant to a DRO, the Option and all
rights granted under this Agreement are personal to Optionee and cannot be
transferred, assigned, pledged or hypothecated in any way (whether by operation
of law or otherwise) and will not be subject to execution, attachment or
similar processes.

 

7.                                      Employment
Relationship.  For purposes of this
Agreement, Optionee shall be considered to be in the employment of the Company
as long as Optionee remains an employee of either the Company, any successor
corporation or a parent or subsidiary corporation (as defined in section 424
of the Internal Revenue Code) of the Company or any successor corporation.  Any question as to whether and when there has
been a termination of such employment, and the cause of such termination, shall
be determined by the Committee, or its delegate, as appropriate, and its
determination shall be final.

 

The Plan and this
Agreement shall not constitute a contract of employment between the Company,
any successor corporation or a parent or subsidiary corporation of the Company
or any successor corporation and Optionee. 
Each Optionee is an at-will employee except as
provided in any other written agreement.  Nothing contained in the Plan (or any Award
made pursuant to this Plan) or the Agreement shall confer upon Optionee any
right to continue in the employment of the Company, or guarantee of payment of
future incentives, or shall interfere with, affect or restrict in any way, the
rights of the Company, which are expressly reserved, to discharge Optionee, any
time for any reason whatsoever, with or without cause.

 

8.                                      Availability
of Plan/Plan Incorporated.  Optionee
acknowledges that Company has made available to Optionee a copy of the Plan and
agrees that this Award of Options shall be subject to all of the terms and
conditions set forth in the Plan, including future amendments thereto, if any,
pursuant to the terms thereof, which Plan is incorporated herein by reference
as a part of this Agreement.  In the
event of any conflict between the Plan and this Agreement, the provisions of
the Plan will prevail.  Optionee’s rights
hereunder are subject to modification or termination in certain events, as
provided in the Plan, including without limitation such rules and regulations
as may from time to time be adopted or

 

3

 

promulgated in accordance
with paragraph 1.3 of the Plan. 
Capitalized terms not defined in this Agreement shall have the meanings
set forth in the Plan.

 

9.                                      Committee
Powers. No provision contained in this Agreement shall in any way
terminate, modify or alter, or be construed or interpreted as terminating,
modifying or altering any of the powers, rights or authority vested in the
Committee or, to the extent delegated, in its delegate pursuant to the terms of
the Plan or resolutions adopted in furtherance of the Plan, including, without
limitation, the right to make certain determinations and elections with respect
to the Options. All decisions of the Committee (as established pursuant to the
Plan) with respect to any questions concerning the application, administration
or interpretation of the Plan will be conclusive and binding on the Company and
Optionee.

 

10.                               No
Rights as Shareholder.  Optionee will
have no rights as shareholder with respect to shares of the Company’s Stock
covered by this Option until the date of the issuance of a stock certificate or
stock certificates.  No adjustment will
be made for cash dividends for which the record date is prior to the date such
stock certificate or certificates are issued.

 

11.                               Compliance
with Securities Laws.  No shares may
be purchased or issued upon the exercise of this Option unless and until any
then applicable requirements of the Securities and Exchange Commission, the
California Commissioner of Corporations, any national securities exchange upon
which the Stock of the Company may be listed and any other regulatory agency
having jurisdiction have been fully complied with.

 

12.                               Dispute
Resolution.  If a dispute arises
between Optionee and Company in connection with the Stock Option award or the
vesting or exercise of the Stock Options, the dispute will be resolved by
binding arbitration with the American Arbitration Association (AAA) in
accordance with the AAA’s Commercial Arbitration Rules then in effect.

 

13.                               Binding
Effect.  This Agreement will bind and
inure to the benefit of the Company and its successors and assigns, and
Optionee and any heir, executor or administrator of Optionee as permitted by
subparagraph 5.4.

 

14.                               Governing
Law.  This Agreement shall be
governed by, and construed in accordance with, the laws of the State of
California.

 

4

 

IN
WITNESS WHEREOF, the parties have executed the Agreement as
of the date and year written above.

 

 

	
   

  	
  CITY NATIONAL CORPORATION,

  	
   

  
	
   

  	
   

  	
  a Delaware corporation

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  <Colleague Name>

  	
   

  
	
   

  	
   

  	
  Optionee

  	
   

  

 

 

PLEASE
RETURN ONE COPY OF THE SIGNED AGREEMENT TO THE COMPENSATION

SECTION OF HUMAN RESOURCES (86-001)

 

5Exhibit 10.36

 

RESTRICTED STOCK AWARD
AGREEMENT

UNDER THE

CITY NATIONAL CORPORATION

2002 AMENDED AND RESTATED
OMNIBUS PLAN

 

RESTRICTED
STOCK AGREEMENT made as of <Date> , between CITY NATIONAL CORPORATION, a
Delaware corporation (the “Company”), and 
<Colleague Name>  , an
employee of the Company or a subsidiary of the Company (“Colleague”), with
reference to the following:

 

A.                                   On April 28, 2004 the shareholders
of the Company adopted the City National Corporation 2002 Amended and Restated
Omnibus Plan as amended from time to time thereafter, (the “Plan”), pursuant to
which the Compensation, Nominating & Governance Committee of the Board of
Directors (the “Committee”) may award selected officers and other Company or
Company subsidiary employees restricted shares of the Company’s common stock,
(the “Stock”).

 

B.                                     The
Committee has determined to grant to Colleague an award of restricted shares of
Stock pursuant to the terms and conditions of this Agreement.

 

NOW,
THEREFORE, in consideration of the foregoing recitals and the
performance of the mutual covenants contained herein, it is hereby agreed as
follows:

 

1.                                      Grant
of Restricted Stock Award.

 

(a)                                  Details
of Award. The Company hereby grants a Restricted Stock Award (as defined in
the Plan), upon the terms and conditions set forth in this Agreement, with the
following terms:

 

(i)                                     Number
of shares to be issued: <# Shares> shares (the “Restricted Shares”) of
Stock;

 

(ii)                                  The
date of issuance:  <Date> (the “Award
Date”); and

 

(iii)                               The consideration, if
any, for the Restricted Shares: 
Colleague’s employment with the Company.

 

(b)                                 Issuance
of Restricted Shares.  The Restricted
Shares shall be issued upon acceptance hereof by Colleague and upon
satisfaction of the conditions of this Agreement.

 

2.                                      Restricted
Shares.  Colleague hereby accepts the
Restricted Shares when issued and agrees with respect thereto as follows:

 

1

 

(a)                                  Forfeiture
Restrictions.  The Restricted Shares
may not be sold, assigned, pledged, exchanged, hypothecated or otherwise
transferred, encumbered or disposed of (the “Forfeiture Restrictions”) to the
extent that Forfeiture Restrictions have not lapsed. In the event of
termination of Colleague’s employment with the Company or employing subsidiary
for any reason other than (i) Retirement 
(ii) death or (iii) Total Disability, except as otherwise provided in
the last sentence of subparagraph (b) of this Paragraph 2, Colleague shall, for
no consideration, forfeit to the Company all Restricted Shares to the extent
then subject to the Forfeiture Restrictions. The Forfeiture Restrictions shall
be binding upon and enforceable against any transferee of Restricted Shares.

 

(b)                                 Lapse
of Forfeiture Restrictions.  The
Forfeiture Restrictions shall lapse as to the Restricted Shares in accordance
with the following schedule provided that Colleague has been continuously
employed by the Company from the Award Date through the lapse date:

 

 

	
  Time from

  Date of Award

  	
   

  	
  Restricted Stock

  Vesting

  	
   

  	
  Total Percentage of

  Restrictions Lapsed

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  After 1 year

  	
   

  	
  0%

  	
   

  	
  0%

  
	
  After 2 years

  	
   

  	
  25%

  	
   

  	
  25%

  
	
  After 3 years

  	
   

  	
  25%

  	
   

  	
  50%

  
	
  After 4 years

  	
   

  	
  25%

  	
   

  	
  75%

  
	
  After 5 years

  	
   

  	
  25%

  	
   

  	
  100%

  

 

Notwithstanding
the foregoing, the Forfeiture Restrictions shall lapse as to all of the
Restricted Shares on the earlier of (i) subject to the discretion of the
Committee, the occurrence of a Change in Control Event (as such term is defined
in the Plan), or (ii) the date Colleague’s employment with the Company is
terminated by reason of death, Total Disability or Retirement. In the event
Colleague’s employment is terminated for any other reason, including retirement
prior to age sixty-five with the approval of the Company or employing
subsidiary, the Committee or its delegate, as appropriate, may, in the
Committee’s or such delegate’s sole discretion, approve the lapse of Forfeiture
Restrictions as to any or all Restricted Shares still subject to such
restrictions, such lapse to be effective on the date of such approval or
Colleague’s termination date, if later.

 

(c)                                  Certificates/Shareholder
Rights. Shares of Restricted Stock will be evidenced by memorandum entries
on the records of the Company’s transfer agent. Colleague shall have voting
rights and shall be entitled to receive all dividends unless and until the
Restricted Shares are forfeited pursuant to the provisions of this Agreement.
Upon request of the Committee or its delegate, Colleague shall deliver to the
Company a stock power, endorsed in blank, relating to the Restricted Shares
then subject to the Forfeiture Restrictions. 
Upon the lapse of the Forfeiture Restrictions, the Company shall cause a
certificate or certificates to be issued without legend in the name of
Colleague, or such other name as provided in the Plan, for the shares upon
which Forfeiture Restrictions lapsed. 
Notwithstanding any other provisions of this Agreement, the issuance or
delivery of any

 

2

 

shares of Stock (whether
subject to restrictions or unrestricted) may be postponed for such period as may
be required to comply with applicable requirements of any national securities
exchange or any requirements under any law or regulation applicable to the
issuance or delivery of such shares.  The
Company shall not be obligated to issue or deliver any shares of Stock if the
issuance or delivery thereof shall constitute a violation of any provision of
any law or of any regulation of any governmental authority or any national
securities exchange.

 

3.                                      Withholding
of Tax.  The receipt of Restricted
Shares or the lapse of any Forfeiture Restrictions may result in income to you
for federal or state tax purposes.  To
the extent that you become subject to taxation, you shall deliver to the
Company at the time of such receipt or lapse, as the case may be, such amount
of money or shares of unrestricted Stock, as the Company may require to meet
its withholding obligation under applicable tax laws or regulations.  If you fail to do so, the Company is
authorized to withhold from any cash or stock remuneration then or thereafter
payable to you any tax required to be withheld by reason of such resulting
compensation income.  Your delivery of
Shares to meet the tax withholding obligation is subject to the Company’s
Securities Trading Policy as may be in effect from time to time.  You must have owned any Stock you deliver for
at least six months.   Any stock you
deliver or which is withheld by the Company will be valued on the date of which
the amount of tax to be withheld is determined. 
Any fractional shares of stock resulting from withholding of taxes will
be paid to you in cash.

 

4.                                      Status
of Stock.  Colleague agrees that the
Restricted Shares to which the restrictions have lapsed will not be sold or
otherwise disposed of in any manner which would constitute a violation of any
applicable federal or state securities laws. 
Colleague also agrees (i) that the certificates representing the Shares
may bear such legend or legends as the Company deems appropriate in order to
assure compliance with applicable securities laws, (ii) that the Company may
refuse to register the transfer of the Shares on the stock transfer records of
the Company if such proposed transfer would be in the opinion of counsel
satisfactory to the Company constitute a violation of any applicable securities
law and (iii) that the Company may give related instructions to its transfer
agent, if any, to stop registration of the transfer of the Shares.

 

5.                                      Limitation on Transfer.  Other
than upon death or pursuant to a DRO, the Restricted Shares and all rights
granted under this Agreement are personal to Colleague and cannot be
transferred, assigned, pledged or hypothecated in any way (whether by operation
of law or otherwise) and will not be subject to execution, attachment or
similar processes.

 

6.                                      Employment
Relationship.  For purposes of this
Agreement, Colleague shall be considered to be in the employment of the Company
as long as Colleague remains a Colleague of either the Company, any successor
corporation or a parent or subsidiary corporation (as defined in section 424
of the Internal Revenue Code) of the Company or any successor corporation.

 

3

 

Any
question as to whether and when there has been a termination of such
employment, and the cause of such termination, shall be determined by the
Committee, or its delegate, as appropriate, and its determination shall be
final.

 

The Plan and this Agreement shall not constitute a
contract of employment between the Company, including, any successor
corporation or a parent or subsidiary corporation of the Company or any
successor corporation and Colleague.  Colleague is an at-will
employee except as provided in any other written agreement.  Nothing contained in the Plan or the
Agreement (or any Award made pursuant to the Plan) shall confer upon any
eligible Participant any right to continue in the employment of the Company, or
guarantee of payment of future incentives, or shall interfere with, affect or
restrict in any way, the rights of the Company, which are expressly reserved,
to discharge Colleague, any time for any reason whatsoever, with or without
cause.

 

7.                                      Availability
of Plan/Plan Incorporated.  Colleague
acknowledges that the Company has made available a copy of the Plan, and agrees
that this Award of Restricted Shares shall be subject to all of the terms and
conditions set forth in the Plan, including future amendments thereto, if any,
pursuant to the terms thereof, which Plan is incorporated herein by reference
as a part of this Agreement. In the event of any conflict between the Plan and
this Agreement, the provisions of the Plan will prevail.  Colleague’s rights hereunder are subject to
modification or termination in certain events, as provided in the Plan,
including without limitation such rules and regulations as may from time to
time be adopted or promulgated in accordance with paragraph 1.3 of the
Plan.  Capitalized terms not defined in
this Agreement shall have the meanings set forth in the Plan.

 

8.                                      Committee’s
Powers.  No provision
contained in this Agreement shall in any way terminate, modify or alter, or be
construed or interpreted as terminating, modifying or altering any of the
powers, rights or authority vested in the Committee or, to the extent
delegated, in its delegate pursuant to the terms of the Plan or resolutions
adopted in furtherance of the Plan, including, without limitation, the right to
make certain determinations and elections with respect to the Restricted
Shares. All decisions of the Committee (as established pursuant to the Plan)
with respect to any questions concerning the application, administration or
interpretation of the Plan will be conclusive and binding on the Company and
Colleague.

 

9.                                      Binding
Effect.  This Agreement shall be
binding upon and inure to the benefit of any successors to the Company and all
persons lawfully claiming under Colleague.

 

10.                               Dispute
Resolution.  If a dispute arises between Colleague and Company in connection with the
Restricted Stock Award, the dispute will be resolved by binding arbitration
with the American Arbitration Association (AAA) in accordance with the AAA’s
Commercial Arbitration Rules then in effect.

 

4

 

11.                               Governing
Law.  This Agreement shall be
governed by, and construed in accordance with, the laws of the State of
California.

 

IN
WITNESS WHEREOF, the Company has caused this Agreement to be duly executed by
an officer thereunto duly authorized, and Colleague has executed this
Agreement, all as of the date first above written.

 

	
   

  	
  CITY NATIONAL
  CORPORATION

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  <Colleague
  Name>

  
	
   

  	
   

  	
  Colleague

  
					

 

 

PLEASE
RETURN ONE COPY OF THE SIGNED AGREEMENT TO THE

COMPENSATION SECTION OF HUMAN RESOURCES (86-001)

 

5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00169-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00169-of-00352.parquet"}]]