Document:

Form of Stock Option Agreement under the 2006 Equity Incentive Plan

 Exhibit 10.5 
  
 NIGHTHAWK RADIOLOGY HOLDINGS, INC. 
  
  2006 EQUITY INCENTIVE PLAN 
   
 STOCK OPTION AGREEMENT 
  
  Unless otherwise defined herein, the terms defined in the Nighthawk Radiology Holdings, Inc. 2006 Equity Incentive Plan (the “Plan”)
will have the same defined meanings in this Stock Option Agreement (the “Option Agreement”). 
   
 I.        NOTICE OF STOCK OPTION GRANT 
  
 Name: 
  
 Address: 
  
 You have been granted a Nonstatutory Stock Option to purchase Common Stock of the Company, subject to the terms and conditions of the Plan and this Option
Agreement, as follows: 
  

			
		
	 Grant Number
	 	  _________________________________________
		
	 Date of Grant
	 	  _________________________________________
		
	 Vesting Commencement Date
	 	  _________________________________________
		
	 Exercise Price per Share
	 	$_________________________________________
		
	 Total Number of Shares Granted
	 	  _________________________________________
		
	 Total Exercise Price
	 	$_________________________________________
		
	 Term/Expiration Date:
	 	  _________________________________________

  
 Vesting
Schedule: 
  
 Subject to accelerated vesting as set forth in
the Plan, this Option may be exercised, in whole or in part, in accordance with the following schedule: 
  
 [1/3 of the Shares subject to the Option will vest twelve months after the Vesting Commencement Date, and 1/36 of the Shares subject to the Option will
vest each month thereafter on the same day of the month as the Vesting Commencement Date (or if there is no corresponding day in an applicable month, the last day of such month), subject to Participant continuing to be a Service Provider through
each such date.] 

 Termination Period: 
  
 This Option shall be exercisable for three (3) months after Participant ceases to be a Service Provider, unless such
termination is due to Participant’s death or Disability, in which case this Option shall be exercisable for one (1) year after Participant ceases to be Service Provider. Notwithstanding the foregoing, in no event may this Option be
exercised after the Term/Expiration Date as provided above and may be subject to earlier termination as provided in Section 14(c) of the Plan. 
  
 II.        AGREEMENT 
  
 1. Grant of Option. 
  
 The Administrator hereby grants to individual named in the Notice of Grant attached as Part I of this Agreement (the “Participant”) an
option (the “Option”) to purchase the number of Shares, as set forth in the Notice of Grant, at the exercise price per share set forth in the Notice of Grant (the “Exercise Price”), subject to the terms and
conditions of the Plan, which is incorporated herein by reference. Subject to Section 19(c) of the Plan, in the event of a conflict between the terms and conditions of the Plan and the terms and conditions of this Option Agreement, the terms
and conditions of the Plan will prevail. 
  
 2. Exercise of
Option. 
  
 (a) Right to Exercise. This Option is
exercisable during its term in accordance with the Vesting Schedule set out in the Notice of Grant and the applicable provisions of the Plan and this Option Agreement. 
  
 (b) Method of Exercise. This Option is exercisable by delivery of an exercise notice, in the form attached as
Exhibit A (the “Exercise Notice”) or in such other form and manner as determined by the Administrator, which will state the election to exercise the Option, the number of Shares in respect of which the Option is being
exercised (the “Exercised Shares”), and such other representations and agreements as may be required by the Company pursuant to the provisions of the Plan. The Exercise Notice will be completed by Participant and delivered to the
Company. The Exercise Notice will be accompanied by payment of the aggregate Exercise Price as to all Exercised Shares together with any applicable withholding taxes. This Option will be deemed to be exercised upon receipt by the Company of such
fully executed Exercise Notice accompanied by such aggregate Exercise Price. 
  
 No Shares will be issued pursuant to the exercise of this Option unless such issuance and exercise comply with Applicable Laws. Assuming such compliance, for income tax purposes the Exercised Shares will be considered
transferred to Participant on the date the Option is exercised with respect to such Exercised Shares. 
  

 -2- 

 3. Method of Payment. 
  
 Payment of the aggregate Exercise Price will be by any of the following, or a combination thereof, at the election of
Participant: 
  
 (a) cash; 
  
 (b) check; 
  
 (c) surrender of other Shares which, (i) in the case of Shares acquired from the Company, either directly or
indirectly, have been owned by the Participant and not subject to a substantial risk of forfeiture for more than six (6) months on the date of surrender, and (ii) have a Fair Market Value on the date of surrender equal to the aggregate
Exercise Price of the Exercised Shares; or 
  
 (d) consideration
received by the Company under a cashless exercise program implemented by the Company in connection with the Plan. 
  
 4. Non-Transferability of Option. 
  
 This Option may not be transferred in any manner otherwise than by will or by the laws of descent or distribution and may be exercised during the
lifetime of Participant only by Participant. 
  
 5. Term of
Option. 
  
 This Option may be exercised only within the
term set out in the Notice of Grant, and may be exercised during such term only in accordance with the Plan and the terms of this Option Agreement. 
  
 6. Tax Obligations. Participant agrees to make appropriate arrangements with the Company (or the Parent or Subsidiary employing or retaining
Participant) for the satisfaction of all Federal, state, and local income and employment tax withholding requirements applicable to the Option exercise. Participant acknowledges and agrees that the Company may refuse to honor the exercise and refuse
to deliver Shares if such withholding amounts are not delivered at the time of exercise. 
  
 7. Entire Agreement; Governing Law. 
  
 The Plan is incorporated herein by reference. The Plan and this Option Agreement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior
undertakings and agreements of the Company and Participant with respect to the subject matter hereof, and may not be modified adversely to Participant’s interest except by means of a writing signed by the Company and Participant. This Option
Agreement is governed by the internal substantive laws, but not the choice of law rules, of Idaho. 
  

 -3- 

 8. NO GUARANTEE OF CONTINUED SERVICE. 
  
 PARTICIPANT ACKNOWLEDGES AND AGREES THAT THE VESTING OF SHARES PURSUANT TO
THE VESTING SCHEDULE HEREOF IS EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER AT THE WILL OF THE COMPANY (AND NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED AN OPTION OR PURCHASING SHARES HEREUNDER). PARTICIPANT FURTHER ACKNOWLEDGES AND AGREES
THAT THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS A SERVICE PROVIDER FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL,
AND WILL NOT INTERFERE WITH PARTICIPANT’S RIGHT OR THE COMPANY’S RIGHT TO TERMINATE PARTICIPANT’S RELATIONSHIP AS A SERVICE PROVIDER AT ANY TIME, WITH OR WITHOUT CAUSE. 
  
 [Remainder of Page Intentionally Left Blank] 
  

 -4- 

 By Participant’s signature and the signature of the Company’s representative below, Participant
and the Company agree that this Option is granted under and governed by the terms and conditions of the Plan and this Option Agreement. Participant has reviewed the Plan and this Option Agreement in their entirety, has had an opportunity to obtain
the advice of counsel prior to executing this Option Agreement and fully understands all provisions of the Plan and Option Agreement. Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the
Administrator upon any questions relating to the Plan and Option Agreement. Participant further agrees to notify the Company upon any change in the residence address indicated below. 
  

			
	 PARTICIPANT:
	 	NIGHTHAWK RADIOLOGY HOLDINGS, INC.
		
	
	 	

	Signature	 	By
		
	
	 	

	Print Name	 	Title
		
	
	 	 
		
	
	 	 
	Residence Address	 	 

  

 -5- 

 EXHIBIT A 
 NIGHTHAWK RADIOLOGY HOLDINGS, INC. 
  2006 EQUITY INCENTIVE PLAN 
   
 EXERCISE NOTICE 
  
 Nighthawk Radiology Holdings, Inc. 
 [ADDRESS] 
  
 Attention:              
  
  1. Exercise of Option. Effective as of today,
                    ,         , the undersigned (“Purchaser”) hereby elects to
purchase                     shares (the “Shares”) of the Common Stock of Nighthawk Radiology Holdings, Inc. (the
“Company”) under and pursuant to the 2006 Equity Incentive Plan (the “Plan”) and the Option Agreement dated
                    (the “Option Agreement”). The purchase price for the Shares will be
$                    , as required by the Option Agreement. 
   
 2. Delivery of Payment. Purchaser herewith delivers to the Company the full purchase price for the Shares and any
required withholding taxes to be paid in connection with the exercise of the Option. 
  
 3. Representations of Purchaser. Purchaser acknowledges that Purchaser has received, read and understood the Plan and the Option Agreement and agrees to abide by and be bound by their terms and conditions.

  
 4. Rights as Stockholder. Until the issuance (as
evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company) of the Shares, no right to vote or receive dividends or any other rights as a stockholder will exist with respect to the Optioned
Stock, notwithstanding the exercise of the Option. The Shares so acquired will be issued to Participant as soon as practicable after exercise of the Option. No adjustment will be made for a dividend or other right for which the record date is prior
to the date of issuance, except as provided in Section 14 of the Plan. 
  
 5. Tax Consultation. Purchaser understands that Purchaser may suffer adverse tax consequences as a result of Purchaser’s purchase or disposition of the Shares. Purchaser represents that Purchaser has
consulted with any tax consultants Purchaser deems advisable in connection with the purchase or disposition of the Shares and that Purchaser is not relying on the Company for any tax advice. 
  
 6. Entire Agreement; Governing Law. The Plan and Option Agreement are
incorporated herein by reference. This Agreement, the Plan and the Option Agreement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all 

 prior undertakings and agreements of the Company and Purchaser with respect to the subject matter hereof, and may not be
modified adversely to the Purchaser’s interest except by means of a writing signed by the Company and Purchaser. This agreement is governed by the internal substantive laws, but not the choice of law rules, of Idaho. 
  

			
	Submitted by:	 	Accepted by:
		
	PURCHASER:	 	NIGHTHAWK RADIOLOGY HOLDINGS, INC.
		
	
	 	

	Print Name	 	Its
		
	Address:	 	Address:
		
	
	 	

		
	
	 	

	 	 	Date Received

  

 -2-Severance Agreement Amendment between Alberto-Culver Co. & Carol L. Bernick

 Exhibit 10.03 
  
 SEVERANCE AGREEMENT AMENDMENT 
  

This Amendment (this “Amendment”) is entered into as of the Effective Date by and between Alberto-Culver Company, a Delaware corporation (the
“Company”), and Carol Bernick (the “Executive”) and shall be deemed to be effective on the date the last party signs this Amendment (the “Effective Date”). 
  
 WHEREAS, the Company and the Executive have entered into the Severance Agreement dated as of December 1, 1996, as
amended as of May 28, 1999 (the “Severance Agreement”), pursuant to which the Executive would be entitled to payments and benefits in the event that the Executive’s employment were terminated under the circumstances set forth in
the Severance Agreement following, among other things, the approval by the stockholders of the Company of a transaction that constitutes a Change in Control (as defined in the Severance Agreement); 
  
 WHEREAS, the Company and Regis Corporation, a Minnesota corporation
(“Regis”), may enter into a transaction whereby Regis or a subsidiary of Regis would be merged with Sally Holdings, Inc., a Delaware corporation and a wholly owned subsidiary of the Company (“SHI” and such transaction, the
“Transaction”); 
  
 WHEREAS, the Company intends to
treat the Transaction as though it constitutes a Change in Control for the purposes of, and as such term is defined under, the Employee Stock Option Plan of 2003, Employee Stock Option Plan of 1988, 2003 Restricted Stock Plan and 1994 Restricted
Stock Plan and accordingly accelerate the vesting of all options to purchase, and restricted shares of, common stock of the Company issued under such plans, including those held by the Executive; 
  
 WHEREAS, in respect of the Company’s Management Incentive Plan and the
1994 Shareholder Value Incentive Plan (the “SVIP”), the Company intends to treat the Transaction as though it constitutes a Change in Control (as such term is defined therein) for the participants in such plans, including the Executive;
and 
  
 WHEREAS, the Company and the Executive desire to enter
into this Amendment pursuant to which the Company and the Executive agree to amend the Severance Agreement upon the terms and subject to the conditions contained herein. 
  
 NOW, THEREFORE, in consideration of the premises and mutual covenants and agreements contained herein, and in order to
induce the Company to enter into the Transaction, the Company and the Executive hereby agree as follows: 
  
 1. No Deemed Change in Control. The Company and the Executive acknowledge that the Transaction is currently contemplated to take the following
form: the shares of SHI owned by the Company would be distributed to the Company’s stockholders pursuant to a tax-free spin-off of SHI and, immediately thereafter, SHI would be merged with Regis or a subsidiary of Regis and those SHI shares
would be converted into shares of common stock of Regis. As a result of the Transaction under such form, SHI would become a wholly owned subsidiary of Regis. In order to resolve all issues that could arise with respect to the Severance Agreement by
reason of the Transaction, the Executive, on behalf of the Executive and any person claiming through the Executive, and the Company hereby agree that the Transaction, however effected, including any actions taken in respect thereof or in connection

 therewith, shall not be deemed to constitute a Change in Control for purposes of the Severance Agreement. This Amendment
shall not apply or extend to any right the Executive may in the future have to any payments or benefits pursuant to the Severance Agreement by reason of the occurrence of a Change in Control unrelated to the Transaction with Regis and its
affiliates. 
  
 2. Effective Date; Termination of
Agreement. This Amendment shall be effective on the Effective Date. This Amendment shall terminate and be of no further force or effect, except in respect of Section 6 hereto, if and only if (a) the principal agreements related to the
Transaction are not signed by the Company and Regis on or prior to March 31, 2006, or (b) such principal agreements are terminated prior to the consummation of the Transaction. 
  
 3. Scope of Agreement. Nothing in this Amendment shall be deemed to entitle the Executive to continued employment
with the Company or its subsidiaries. 
  
 4. Counterparts.
This Amendment may be executed in two counterparts, each of which shall be deemed to be an original and both of which together shall constitute one and the same instrument. 
  
 5. Miscellaneous. Capitalized terms not defined herein shall have the meanings assigned to them in the Severance
Agreement. This Amendment and the Severance Agreement constitute the entire understanding and agreement between the Company and the Executive with respect to the subject matter hereof and thereof and supersedes all other prior agreements and
understandings between the Executive and the Company with respect to such subject matter. The Severance Agreement, as amended by this Amendment, shall remain in full force and effect in accordance with its terms. 
  
 6. Addition of Provision Relating to Certain Taxation Matters. The
following provision shall be added as new Section 3(e) of the Severance Agreement: 
  
 (e) Application of Section 409A. Notwithstanding the foregoing, if the Company, or in the event that the Company no longer
exists, the Successor Company, or the Executive reasonably and in good faith determines that payment of any amount pursuant to this Agreement at the time provided for such payment would cause any amount so payable to be subject to
Section 409A(a)(1) of the Code, then such amount shall instead be paid at the earliest time at which it may be paid without causing this Agreement to be subject to Section 409A(a)(1) and all of the provisions of this Agreement shall be
interpreted in a manner consistent with this Section 3(e). The Company, or in the event that the Company no longer exists, the Successor Company, shall have the right to make such amendments, if any, to this Agreement as shall be necessary to
avoid the application of Section 409A(a)(1) of the Code to the payments of amounts pursuant to this Agreement, and shall give prompt notice of any such amendment to the Executive. If the Company or in the event that the Company no longer
exists, the Successor Company, defers payments to the Executive pursuant to this Section 3(e), then such company shall provide Executive with prompt written notice thereof, including reasonable explanation and the estimated date on which it has
determined it is permitted to make the payments deferred under this Section 3(e). In any event, the payments will not take longer than 190 days from the Date of Termination, provided however that benefits provided under Section 3(c) shall
extend beyond this period 
  

 2 

 
pursuant to the terms of such benefits. Provided further that to the extent it is determined that Section 409A would apply to such benefits if provided
immediately after the Date of Termination, such benefit shall commence as soon as possible without being subject to 409A. 
  
 For purposes of this Section 3(e), (i) the term Agreement shall be deemed to refer to this Agreement and any amendments thereto,
(ii) the term “Successor Company” shall mean, in the event of any reorganization, merger, consolidation or any sale or other disposition of assets that results in a Change in Control, (A) the surviving or resulting Person or the
Person acquiring the assets of the Company, and (B) the Affiliates of such Person, (iii) the term “Affiliate” shall have the meaning set forth in Rule 12b-2 of the Securities Exchange Act of 1934 and (iv) the term
“Person” shall mean any individual, entity or group, including any “person” within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934. 
  
 IN WITNESS WHEREOF, the Company has caused this Amendment to be executed by a
duly authorized officer of the Company and the Executive has executed this Amendment as of the dates set forth below. 
  

			
	ALBERTO-CULVER COMPANY
		
	By:	 	 /s/ Gary P. Schmidt

	Name:	 	Gary P. Schmidt
	Its:	 	Senior Vice President and General Counsel
		
	Date:	 	January 10, 2006
	
	Carol Bernick
	
	 /s/ Carol Bernick

		
	Date:	 	January 10, 2006

  

 3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00096-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00096-of-00352.parquet"}]]