Document:

Form of Employee Stock Option Agreement

 Exhibit 10.2 
 CARMIKE CINEMAS, INC. 
 2004 INCENTIVE STOCK PLAN 
 EMPLOYEE 
 NON-INCENTIVE STOCK OPTION

 OPTION CERTIFICATE 
 Carmike
Cinemas, Inc. (“Carmike”), a Delaware corporation, in accordance with the Carmike Cinemas, Inc. 2004 Incentive Stock Plan, hereby grants an Option to [NAME], or “Eligible Employee”, to purchase from Carmike [# OF
SHARES] shares of Stock at an Option Price per share equal to $xxxx, which grant shall be subject to all of the terms and conditions set forth in this Option Certificate and in the Plan. This grant has been made on [GRANT DATE], which
shall be referred to as the “Grant Date”. This Option is not intended to satisfy the requirements of § 422 of the Code and thus shall be referred to as a “Non-ISO”. 
  

			
	CARMIKE CINEMAS, INC.
		
	By:	 	  

	Date:	 	

 TERMS AND CONDITIONS 
 § 1. Plan. This Non-ISO grant is subject to all the terms and conditions set forth in the Plan and this Option Certificate, and
all the terms in this Option Certificate which begin with a capital letter either are defined in this Option Certificate or in the Plan. If a determination is made that any term or condition set forth in this Option Certificate is inconsistent with
the Plan, the Plan shall control. A copy of the Plan will be made available to Eligible Employee upon written request to the Chief Financial Officer of Carmike. Carmike does not intend that the special tax treatment for an ISO be available to
Eligible Employee upon the exercise of this Option. 
 § 2. Section 16(a). If Eligible Employee, at the time he or
she proposes to exercise any rights under this Non-ISO, is an officer or director of Carmike, or is filing ownership reports with the Securities and Exchange Commission under Section 16(a) of the Exchange Act, then Eligible Employee should
consult Carmike before he or she exercises such rights to determine whether the securities law might subject him or her to additional restrictions upon the exercise of such rights. 

 § 3. Vesting and Exercise. 
  

	 	(a)	Vesting. Subject to § 3(b), Eligible Employee shall automatically vest in this Option with respect to 

  

	 	(1)	            shares of the Stock underlying this Option if Eligible Employee remains continuously employed by Carmike
until –            ; 

  

	 	(2)	            shares of the Stock underlying this Option if Eligible Employee remains continuously employed by Carmike
until             ; and 

  

	 	(3)	            shares of the Stock underlying this Option if Eligible Employee remains continuously employed by Carmike
until             . 

  

	 	(b)	Exercise. 

  

	 	(1)	Cause. If Eligible Employee’s employment with Carmike is terminated for “Cause” (as defined in § 3(c)), Eligible Employee shall forfeit his or her
right under § 3(a) to exercise all or any part of this Non-ISO at the time of his or her termination of employment. 

  

	 	(2)	 Death or Disability. If Eligible Employee’s employment with Carmike terminates by reason of his or her death or Disability (as defined in
§ 3(c)), the right of Eligible Employee or his or her estate (whichever is applicable) to exercise this Non-ISO shall expire on the earlier of (A) the first anniversary of the date his or her employment with Carmike terminates, or
(B) the 10th anniversary of the Grant Date. 

  

	 	(3)	 Other Reason. If Eligible Employee’s employment with Carmike terminates for any reason (other than a reason described in § 3(b)(1) or
§ 3(b)(2)), his or her right, if any, under § 3(a) to exercise this Non-ISO shall expire on the earlier of (A) the date which is 90 days after his or her termination of employment with Carmike, or (B) the 10th anniversary of the Grant Date. 

  

	 	(c)	Definitions. 

  

	 	(1)	Affiliate. The term “Affiliate” for purposes of this Option Certificate shall mean any Subsidiary and any other organization designated as such by the Committee.

	 	(2)	Cause. The term “Cause” for purposes of this Option Certificate shall mean: 

  

	 	(a)	Eligible Employee is convicted of, pleads guilty to, or confesses or otherwise admits to any felony or any act of fraud, misappropriation or embezzlement, or Eligible Employee
otherwise engages in a fraudulent act or course of conduct; 

  

	 	(b)	There is any act or omission by Eligible Employee involving malfeasance or negligence in the performance of Eligible Employee’s duties and responsibilities for Carmike or an
Affiliate, or the exercise of Eligible Employee’s powers as an employee of Carmike, where such act or omission is reasonably likely to materially and adversely affect Carmike’s or an Affiliate’s business; 

  

	 	(c)	Eligible Employee violates any provision of any code of conduct adopted by Carmike or an Affiliate which applies to Eligible Employee and any other employee of Carmike if the
consequence to such violation for any employee of Carmike ordinarily would be the termination of his or her employment. 

  

	 	(3)	Disability. Eligible Employee will cease to be an employee of Carmike by reason of a “Disability” if (i) Carmike determines that he or she no longer is able to
perform the essential functions of his or her job at Carmike as a result of a physical or mental illness with or without a reasonable accommodation by Carmike with respect to such illness or (ii) Eligible Employee becomes entitled to long-term
disability benefits under any plan of Carmike providing such benefits. 

 § 4. Life of
Non-ISO. This Non-ISO shall expire and shall not be exercisable for any reason on or after the 10th anniversary of the Grant Date. 
 § 5. Method of Exercise of Non-ISO. Eligible Employee
may exercise this Non-ISO in whole or in part (to the extent this Non-ISO is otherwise exercisable under § 3) on any normal business day of Carmike by (1) delivering this Option Certificate to Carmike, together with written notice of
the exercise of such Non-ISO and (2) simultaneously paying to Carmike the Option Price. The payment of such Option Price shall be made (1) in cash or by check acceptable to Carmike, (2) by delivery to Carmike of certificates (properly
endorsed) for shares of Stock registered in Eligible Employee’s name which he or she has held for at least six months or an attestation by Eligible Employee sufficient to the 

  

 –3– 

 
Committee that he or she then owns such shares, (3) in any combination of such cash, check, and Stock which results in payment in full of the Option
Price or (4) by authorizing a third party to sell shares of Stock (or a sufficient portion of the shares) acquired upon exercise of the Option and remit to Carmike a sufficient portion of the sale proceeds to pay the entire Option Price and any
tax withholding resulting from such exercise. Stock, which is so tendered as payment (in whole or in part) of the Option Price shall be valued at its Fair Market Value on the date the Non-ISO is exercised. 
 § 6. Delivery. Carmike shall deliver a properly issued certificate for any Stock purchased pursuant to the exercise of this
Non-ISO as soon as practicable after such exercise, and such delivery shall discharge Carmike of all of its duties and responsibilities with respect to this Non-ISO. 
 § 7. Nontransferable. No rights granted under this Non-ISO shall be transferable by Eligible Employee other than by will or by the laws of descent and distribution, and the rights
granted under this Non-ISO shall be exercisable during Eligible Employee’s lifetime only by Eligible Employee. The person or persons, if any, to whom this Non-ISO is transferred by will or by the laws of descent and distribution shall be
treated after Eligible Employee’s death the same as Eligible Employee under this Option Certificate. 
 § 8. No Right
to Continue Employment or Service. Neither the Plan, this Non-ISO, nor any related material shall give Eligible Employee the right to continue employment or other service with Carmike or any Affiliate or shall adversely affect the right of
Carmike to terminate Eligible Employee’s employment with or without Cause at any time. 
 § 9. Stockholder
Status. Eligible Employee shall have no rights as a stockholder with respect to any shares of Stock under this Non-ISO until such shares have been duly issued and delivered to Eligible Employee, and no adjustment shall be made for dividends
of any rights or any kind or description whatsoever or for distributions of other rights of any kind or description whatsoever respecting such Stock, except as set forth in the Plan. 
 § 10. Other Laws. Carmike shall have the right to refuse to issue or transfer any shares of Stock under this Non-ISO if Carmike,
acting in its absolute discretion, determines that the issuance or transfer of such shares of Stock might violate any applicable law or regulation, and any payment tendered in such event to exercise this Non-ISO shall be promptly refunded to
Eligible Employee and Carmike at that point shall have the right to cancel this Non-ISO or to take such other action with respect to this Non-ISO as Carmike deems appropriate under the circumstances. 
 § 11. Governing Law. The Plan and this Non-ISO shall be governed by the laws of the State of Delaware. 
 § 12. Binding Effect. This Non-ISO shall be binding upon Carmike and Eligible Employee and their respective heirs, executors,
administrators and successors. 
  

 –4– 

 § 13. References. Any references to sections (§) in this Option Certificate
shall be to sections (§) of this Option Certificate unless otherwise expressly stated as part of such reference. 
  

 –5–Restricted Stock Grant Agreement

 Exhibit 10.3 
 CARMIKE CINEMAS, INC. 
 2004 INCENTIVE STOCK PLAN 
 STOCK GRANT CERTIFICATE 
 This Stock Grant Certificate
evidences a Stock Grant made pursuant to the Carmike Cinemas, Inc. 2004 Incentive Stock Plan of 50,000 shares of restricted Stock to S. DAVID PASSMAN III, who shall be referred to as “Executive”. This Stock Grant is granted
effective as of June 4, 2009, which shall be referred to as the “Grant Date.” 
  

			
	CARMIKE CINEMAS, INC.
		
	By:	 	  

		 	Senior Vice President
		
	Date:	 	June 4, 2009

 TERMS AND CONDITIONS 
 § 1. Plan and Stock Grant Certificate. This Stock Grant is subject to all of the terms and conditions set forth in this Stock Grant
Certificate and in the Plan. If a determination is made that any term or condition set forth in this Stock Grant Certificate is inconsistent with the Plan, the Plan shall control. All of the capitalized terms not otherwise defined in this Stock
Grant Certificate shall have the same meaning in this Stock Grant Certificate as in the Plan. A copy of the Plan will be made available to Executive upon written request to the Chief Financial Officer of Carmike. 
 § 2. Stockholder Status. Executive shall have the right under this Stock Grant to receive ordinary cash dividends on all of the shares
of Stock subject to this Stock Grant and to vote such shares until Executive ‘s right to such shares is forfeited or becomes nonforfeitable. If Executive forfeits his shares under § 3, Executive shall at the same time forfeit
Executive ‘s right to vote such shares and to receive ordinary cash dividends paid with respect to such shares. Any extraordinary cash dividends and any Stock dividends or other distributions of property made with respect to shares of Stock
that remain subject to forfeiture under § 3 shall be held by Carmike, and Executive’s rights to receive such dividends or other property shall be forfeited or shall be nonforfeitable at the same time the shares of Stock with respect
to which the dividends or other property are attributable are forfeited or become nonforfeitable. Except for the rights to receive ordinary cash dividends and vote the shares of Stock subject to this Stock Grant which are described in this
§ 2, Executive shall have no rights as a stockholder with respect to such shares of Stock until Executive’s interest in such shares has become nonforfeitable. 

 § 3. Vesting and Forfeiture. 
  

	 	(a)	Vesting. Subject to § 3(b) and § 3(c): 

  

	 	(i)	If Executive remains continuously employed by Carmike until June 4, 2010, Executive’s interest in 16,667 shares of the Stock subject to this Stock Grant shall become
nonforfeitable as of June 4, 2010; 

  

	 	(ii)	If Executive remains continuously employed by Carmike until June 4, 2011, Executive’s interest in 16,667 shares of the Stock subject to this Stock Grant shall become
nonforfeitable as of June 4, 2011; and 

  

	 	(iii)	If Executive remains continuously employed by Carmike until June 4, 2012, Executive’s interest in 16,666 shares of the Stock subject to this Stock Grant shall become
nonforfeitable as of June 4, 2012. 

  

	 	(b)	Other Vesting Provisions. 

  

	 	(i)	Without Cause and Good Reason. If Carmike at any time terminates Executive’s employment without Cause (as defined in the Employment Agreement between Carmike and the
Executive, dated as of June 4, 2009 (the “Employment Agreement”)) or if Executive resigns during his Protection Period (as defined in the Employment Agreement) for Good Reason (as defined in the Employment Agreement), then his
interest in the shares of Stock subject to this Stock Grant shall immediately become non-forfeitable. 

  

	 	(ii)	Death or Disability. If Executive’s employment terminates during the Term (as defined in the Employment Agreement) as a result of his death or Disability (as defined in
the Employment Agreement), then his interest in the shares of Stock subject to this Stock Grant shall immediately become non-forfeitable. 

  

	 	(c)	Forfeiture. If Executive’s employment with Carmike terminates for any reason (other than a reason described in § 3(b)(i) or § 3(b)(ii)) before his interest in
the shares of Stock subject to this Stock Grant have become nonforfeitable under § 3(a), the Executive shall forfeit all such shares of Stock subject to this Stock Grant which have become nonforfeitable under § 3(a).

  

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 § 4. Stock Certificates. Carmike shall issue a stock certificate for the shares of
Stock subject to this Stock Grant in the name of Executive upon Executive’s execution of the irrevocable stock power in favor of Carmike attached as Exhibit A. The General Counsel of Carmike shall hold such stock certificate representing
such shares and any distributions made with respect to such shares (other than ordinary cash dividends) until such time as Executive’s interest in such shares has become nonforfeitable or has been forfeited. As soon as practicable after the
date as of which Executive’s interest in any shares becomes nonforfeitable under § 3(a), Carmike shall issue to Executive a stock certificate reflecting the shares in which his or her interest has become nonforfeitable on such date
(together with any distributions made with respect to the shares that have been held by Carmike). If shares of Stock are forfeited, such shares (together with any distributions made with respect to such shares that have been held by Carmike)
automatically shall revert back to Carmike. 
 § 5. Nontransferable. No rights granted under this Stock Grant Certificate
shall be transferable by Executive. 
 § 6. Other Laws. Carmike shall have the right to refuse to transfer shares of Stock
subject to this Stock Grant to Executive if Carmike acting in its absolute discretion determines that the transfer of such shares is (in the opinion of Carmike’s legal counsel) likely to violate any applicable law or regulation. 
 § 7. No Right to Continue Employment or Service. Neither the Plan, this Stock Grant Certificate, nor any related material shall give
Executive the right to continue in the employment or other service of Carmike or shall adversely affect Carmike’s right to terminate Executive’s employment with or without Cause at any time. 
 § 8. Governing Law. The Plan and this Stock Grant Certificate shall be governed by the laws of the State of Delaware. 
 § 9. Binding Effect. This Stock Grant Certificate shall be binding upon Carmike and Executive and their respective heirs, executors,
administrators and successors. 
 § 10. Headings and Sections. The headings contained in this Stock Grant Certificate are
for reference purposes only and shall not affect in any way the meaning or interpretation of this Stock Grant Certificate. All references to sections in this Stock Grant Certificate shall be to sections of this Stock Grant Certificate unless
otherwise expressly stated as part of such reference. 
  

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 Exhibit A 
 IRREVOCABLE STOCK POWER 
 As a condition to the issuance to the undersigned of a stock certificate
for the 50,000 shares of Stock which were granted to the undersigned as a Stock Grant under the Carmike Cinemas, Inc. 2004 Incentive Stock Plan in the Stock Grant Certificate as of June 4, 2009, the undersigned hereby executes this Irrevocable
Stock Power in order to sell, assign and transfer to Carmike Cinemas, Inc. the shares of Stock subject to such Stock Grant for purposes of effecting any forfeiture called for under § 3 of the Stock Grant Certificate and does hereby
irrevocably give Carmike Cinemas, Inc. the power (without any further action on the part of the undersigned) to transfer such shares of Stock on its books and records back to Carmike Cinemas, Inc. to effect any such forfeiture. This Irrevocable
Stock Power shall expire automatically with respect to the shares of Stock on the date such shares of Stock are no longer subject to forfeiture under § 3 of such Stock Grant Certificate. 
  

	
	  

	
	  

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