Document:

1990 Employee Stock Option Plan

 Exhibit 10(o)
  BERGER HOLDINGS, LTD.
  1990 EMPLOYEE STOCK OPTION PLAN
            There is hereby established the Berger Holdings, Ltd. 1990 Employee Stock Option
Plan (the “Plan”).  The Plan provides for the grant to certain employees of Berger Holdings, Ltd. and its subsidiaries (the “Company”) of options (“Options”) to purchase shares of Berger’s Common Stock, $.01
par value per share (“Common Stock”), and for the issuance, transfer or sale of such shares upon the exercise of Options.
            1.     Purpose.  The purpose of the Plan is to retain in the employ of the Company those who have contributed to the
Company’s turnaround and to encourage their sense of proprietorship in the Company through participation in the distribution of 66,666 shares of Common Stock repurchased by the Company from Meridian Bank.
            2.     Administration of the Plan.  The Plan shall be administered under the supervision of a committee (the
“Committee”) consisting of the Chairman and the President.  In addition to the discretionary authority of the Committee set forth herein, the Committee is authorized to establish such rules and regulations for the proper
administration of the Plan as it may deem advisable and not inconsistent with provisions of the Plan.  Unless otherwise determined by the Committee, all questions arising under the Plan or under any rule or regulation with respect to the Plan
adopted by the Committee, whether such questions involve an interpretation of the Plan or otherwise, shall be decided by the Committee, and its decisions shall be conclusive and binding in all cases.
            3.     Eligibility.  Options shall be granted only to persons who, on December 30, 1990 (the “Granting Date”),
were employees of the Company or its subsidiaries.  A person to whom an Option is granted hereunder is hereinafter sometimes referred to as an “optionee.”  Attached as Annex I hereto is a list of the employees who are to be
granted Options under the Plan and the initial number of shares subject to each Option.
           4.     Common
Stock Reserved for Issuance.  The aggregate number of shares of Common Stock reserved for issuance upon the exercise of Options granted under the Plan shall be 66,666 shares, subject to adjustment as provided in Section 5(d)
hereof.  If any Option granted under the Plan shall expire, terminate or be cancelled for any reason without having been exercised in full, the corresponding number of unpurchased shares shall not be available again for the purposes of the
Plan; provided, however, that unexercised Options which become non-exercisable by reason of termination of an optionee from the employ of the Company shall be reallocated to all of the then-employed optionees pro rata according to the
original percentage allocations of Options granted to such optionees on the Granting Date.
            5.     Terms
of Options.
                     (a)     Option Price. 
Subject to adjustment pursuant to Section 5(d) hereof, the exercise price of Options shall be $3.00 per share, which is the price at which the Company repurchased shares of Common Stock from Meridian Bank.

                     (b)     Exercise
Options.  Options shall be exercised by submitting to the Company a signed copy of a notice of exercise in a form to be supplied by the Company with payment of the aggregate Option Price.  The exercise of an Option shall be effective
on the date on which the Company receives such notice with proper payment at its principal corporate offices.
                     (c)     Payment for Shares.  Payment of the Option Price for shares of
Common Stock issued upon the exercise an Option shall be made in full at the time of exercise of the Option.  Payment of the Option Price shall be made in cash or, with the consent of the Committee, in whole or in part in Common Stock of the
Company, valued on the trading date immediately preceding the date of exercise.  The fair market value of a share on a particular date shall, for the purposes of this Section 5, be deemed to be the mean of the closing representative bid and
asked prices, as reported by the NASDAQ system (or if not then quoted on NASDAQ, as otherwise available in the over-the-counter market) on that date, or if there shall have been no bid and asked prices on that date, on the last preceding date on
which bid and asked prices were quoted.  Prior to the distribution of Common Stock to which the optionee shall become entitled, there shall first be deducted all applicable withholding taxes, if any, unless the Committee shall have authorized
other arrangements to permit the optionee to pay in cash the amount of such taxes which otherwise would be withheld.
                    (d)     Effect of Changes in Common Stock.  In the event of a
reorganization, recapitalization, liquidation, stock split, stock dividend, combination of shares, merger or consolidation, pursuant to any of which events the then outstanding shares of the Common Stock are split up or combined, or are changed
into, become exchangeable at the holder’s election for, or entitle the holder thereof to, other shares of stock, the Committee may change the number and kinds of shares available under the Plan and any outstanding Option (including substitution
of shares of another corporation) and the price of any Option.
                     (e)     Period of Exercise of Option.
                              (i)     Notwithstanding any other
provisions contained in this Plan, each Option granted under the Plan shall be exercisable only for the five (5) year period commencing two (2) years after the Granting Date and terminating seven (7) years after the Granting Date (the “Option
Period”).  Notwithstanding any other provision contained in this Plan, no Option shall be exercisable after the expiration of the Option Period.
                              (ii)    Except as provided in
Paragraph (f) of this Section 5, no Option may be exercised unless the optionee is then in the employ of the Company or a subsidiary thereof and has been continuously so employed since the Granting Date.  The Plan shall not confer upon any
optionee any right with respect to continuation of employment by the Company, nor shall it interfere in any way with the employee’s right or the Company’s right to terminate employment at any time.
                     (f)     Death, Incapacity or Disability of Optionee.  If an optionee should
die while in the employment of the Company, an Option held by such optionee shall be exercisable by the estate of the optionee, or by a person who acquired the right to exercise such Option by bequest or inheritance or by reason of the death of the
optionee, until the second anniversary of
 - 2 -

  the date of death or the expiration of the Option Period whichever is earlier.  Should an optionee become legally incapacitated or disabled while in the employment of the
Company, an Option held by such optionee shall be exercisable by his/her legal representative only during the Option Period.  In the event of the death, legal incapacity or disability of an optionee, all terms and conditions set forth herein
shall continue to apply with equal force; provided, however, that an Option may be exercised by or on behalf of a deceased, incapacitated or disabled employee during the Option Period without regard to the restriction set forth in
Section 5(a)(ii) hereof.
                     (g)     Optionees not
Shareholders.  An optionee or a legal representative thereof shall have none of the rights of a shareholder with respect to shares subject to an Option until such shares shall be issued upon exercise of the Option.
                     (h)     Types of Options.  Options granted under the Plan shall be
nonqualified, non-statutory options.
            6.     Disclosure.
                     (a)     As soon as practicable after the Granting Date, the Company shall deliver to
all eligible optionees the following documents:
                              (i)     One (1) copy of this
Plan; and
                              (ii)    One (1) Certificate of
Eligibility evidencing the optionee’s right in the Option and the number of shares of Common Stock which such optionee is entitled to purchase through exercise of the Option.
                    (b)     During each year following the Granting Date and prior to the expiration of the
Option Period, the Company shall deliver to each optionee a copy of the Company’s most recent Annual Report to Shareholders and Proxy Statement for any annual and special meetings of the shareholders of the Company.
            7.     Amendment and Discontinuance of the Plan.
                     (a)     The Board of Directors of the Company may at any time altar, suspend or
terminate the Plan, but, except in accordance with the provisions of Section 5(d) hereof, no change shall be made which will have a material adverse effect upon any Option previously granted unless the consent of the optionee is obtained.

                    (b)     Notwithstanding the foregoing provisions of this Section 7,
no person may be divested of the ownership of Common Stock previously issued, sold or transferred under the Plan.
            8.     Securities Law Restrictions.  No shares shall be issued and delivered upon exercise of Options unless and until, in
the opinion of legal counsel for the Company, any applicable registration requirements under federal and state law, or any other requirements of law or of any regulatory body or securities exchange, shall have been fully complied with.  If
legal counsel for the Company so requires as a condition to the issuance of optioned shares without registration (and such issuance without registration shall be at the sole discretion of the Board, no
  - 3 -

  optionee having any right to compel the Company to register shares optioned at any time), the optionee shall be required, prior to the issuance of such optioned shares, to
give written certificates and representations to the Company, in a form approved by such legal counsel consistent with securities laws and regulations then in effect, that such shares are being acquired for investment purposes only and with no
intention for resale or transfer of any kind.  Any failure or refusal by an optionee so to certify or represent, or any reasonable belief by the Company that such facts certified or represented are not correct, shall be sufficient grounds for
the Company to revoke the Option and refuse to issue the optioned shares as if the right to purchase such shares had never accrued.  All unregistered shares issued pursuant to such certifications and representations shall, if legal counsel so
requires, bear a legend consistent with the certifications and representations, which legend may restrict the transferability of the shares until they are first registered or until legal counsel gives the Company a written opinion that any proposed
sale or transfer by the holder does not require registration and would not jeopardize or destroy any exemptions from registration relied upon by the Company in issuing the shares.  Although it is not legally required to do so, the Company
intends to file a registration statement under the securities laws with respect to shares of Common Stock subject to option hereunder.
           9.     Effective Date.  The Plan shall be effective as of December 31, 1990.

	  Name
 	   
 	  Orig. # of Options
 	   
 
	 
 	   
 	 
 	 
 	   
 
	  Abido, Ross B.
 	  
 	  
 	  325
 	  
 
	  Anderson, Bruce
 	  
 	  
 	  325
 	  
 
	  Barnhurst, Donald C.
 	  
 	  
 	  325
 	  
 
	 Barr, Michael S.
 	  
 	  
 	  325
 	  
 
	  Batuyong, Richard R.
 	  
 	  
 	  325
 	  
 
	  Bentzley, Patricia A.
 	  
 	  
 	  325
 	  
 
	  Bernard, Kevin W.
 	  
 	  
 	  325
 	  
 
	  Bonilla, Maximo
 	  
 	  
 	  325
 	  
 
	  Breslin, Joseph F.
 	  
 	  
 	  325
 	  
 
	 Burkholder, Edward
 	  
 	  
 	  325
 	  
 
	  Canfield, Shiela
 	  
 	  
 	  325
 	  
 
	  Carpenter, Steve
 	  
 	  
 	  1,000
 	  
 
	  Cintron, Irving G.
 	  
 	  
 	  325
 	  
 
	  Collins, William W.
 	  
 	  
 	  4,500
 	  
 
	  Colon, Pedro
 	  
 	  
 	  325
 	  
 
	 Connell, Vaughn
 	  
 	  
 	  325
 	  
 
	  Cortes, Reinaldo
 	  
 	  
 	  325
 	  
 
	  Cranch, Robert D.
 	  
 	  
 	  325
 	  
 
	  Decembrino, Peter
 	  
 	  
 	  1,500
 	  
 
	  Dous, Nancy M.
 	  
 	  
 	  325
 	  
 
	  Fenstermacher, William A.
 	  
 	  
 	  325
 	  
 
	 Fox, Amy R.
 	  
 	  
 	  325
 	  
 
	  Garrett, Thomas A.
 	  
 	  
 	  325
 	  
 
	  George, Ralph C.
 	  
 	  
 	  325
 	  
 
	  Gift, Martin
 	  
 	  
 	  325
 	  
 
	  Goldstein, Robert S.
 	  
 	  
 	  325
 	  
 

  - 4 -

	 Name
 	  
 	  Orig. # of Options
 	  
 
	 
 	  
 	 
 	 
 	  
 
	  Griffith, Randy
 	  
 	  
 	  325
 	  
 
	  Haag, Francis J.
 	  
 	  
 	  325
 	  
 
	  Hall, Richard A.
 	  
 	  
 	  325
 	  
 
	  Hardy, Theodore
 	  
 	  
 	  325
 	  
 
	 Hause, Joel S.
 	  
 	  
 	  1,500
 	  
 
	  Hobson, Paul E.
 	  
 	  
 	  325
 	  
 
	  Hughes, John C.
 	  
 	  
 	  325
 	  
 
	  Jimenez, Gabriel
 	  
 	  
 	  325
 	  
 
	  Junqo, Denise M.
 	  
 	  
 	  2,500
 	  
 
	  Kamm, Terry
 	  
 	  
 	  325
 	  
 
	 Kashow, Grace E.
 	  
 	  
 	  325
 	  
 
	  Kashow, William E
 	  
 	  
 	  325
 	  
 
	  Kennedy, Marguerite
 	  
 	  
 	  325
 	  
 
	  Kitchen, Herman
 	  
 	  
 	  325
 	  
 
	  Koenig, Theodore W.
 	  
 	  
 	  1,000
 	  
 
	  Llewllyn, Noel
 	  
 	  
 	  325
 	  
 
	 Llewllyn, Blaine
 	  
 	  
 	  1,500
 	  
 
	  Maner, Thomas F.
 	  
 	  
 	  325
 	  
 
	  March, Fred R.
 	  
 	  
 	  1,000
 	  
 
	  Matias, Rafael
 	  
 	  
 	  325
 	  
 
	  Meeks, Ronald
 	  
 	  
 	  325
 	  
 
	  McGeady, Dennis M.
 	  
 	  
 	  2,500
 	  
 
	 McNichol, John J.
 	  
 	  
 	  1,000
 	  
 
	  Moock, Thomas W.
 	  
 	  
 	  325
 	  
 
	  Moore, Robert J.
 	  
 	  
 	  1,000
 	  
 
	  Mullen, John F.
 	  
 	  
 	  325
 	  
 
	  Musick, Elaine J.
 	  
 	  
 	  325
 	  
 
	  Ownes, Carson
 	  
 	  
 	  325
 	  
 
	 Perrott, Jr., John W.
 	  
 	  
 	  325
 	  
 
	  Perry, Patricia
 	  
 	  
 	  325
 	  
 
	  Pluck, Edward P.
 	  
 	  
 	  325
 	  
 
	  Randis, Joseph D.
 	  
 	  
 	  1,500
 	  
 
	  Rao, Daksha
 	  
 	  
 	  325
 	  
 
	  Robertson, Jr., George
 	  
 	  
 	  325
 	  
 
	 Robertson, Robert
 	  
 	  
 	  325
 	  
 
	  Robertson, Sr., G.E.
 	  
 	  
 	  325
 	  
 
	  Rodriguez, Eliecer, O.
 	  
 	  
 	  325
 	  
 
	  Ross, David H.
 	  
 	  
 	  325
 	  
 
	  Schwartz, Theodore A.
 	  
 	  
 	  4,666
 	  
 
	  Shearer, Edward
 	  
 	  
 	  1,500
 	  
 
	 Shearer, Terry L.
 	  
 	  
 	  1,500
 	  
 
	  Siess, William J.
 	  
 	  
 	  2,500
 	  
 
	  Skiles, Wayne W.
 	  
 	  
 	  325
 	  
 
	  Smith, Raymond L.
 	  
 	  
 	  1,000
 	  
 
	  Smith, William F.
 	  
 	  
 	  325
 	  
 

  - 5 -

	 Name
 	  
 	  Orig. # of Options
 	  
 
	 
 	  
 	 
 	 
 	  
 
	  Speise, Paul L.
 	  
 	  
 	  4,500
 	  
 
	  Spitzer, Thomas R.
 	  
 	  
 	  325
 	  
 
	  Stokes, Carol M.
 	  
 	  
 	  325
 	  
 
	 Sugden, Donna L.
 	  
 	  
 	  325
 	  
 
	  Sykes, Daniel
 	  
 	  
 	  325
 	  
 
	  Teachey, Julius
 	  
 	  
 	  325
 	  
 
	  Thomas, Winston
 	  
 	  
 	  325
 	  
 
	  Toland, Samuel
 	  
 	  
 	  325
 	  
 
	  Tyler, Avalon
 	  
 	  
 	  325
 	  
 
	 Viera, Orlando
 	  
 	  
 	  325
 	  
 
	  Vives, Angel
 	  
 	  
 	  325
 	  
 
	  Vogt, Brian
 	  
 	  
 	  325
 	  
 
	  Waiters, Williaim S.
 	  
 	  
 	  325
 	  
 
	  Walters, Joseph A.
 	  
 	  
 	  325
 	  
 
	  Wetzel, Eileen E.
 	  
 	  
 	  325
 	  
 
	 Willoughby, Earl C.
 	  
 	  
 	 325
 	  
 
	 Wyatt, Michelle M.
 	  
 	  
 	 325
 	  
 
	 Yust, Karan
 	  
 	  
 	 325
 	  
 
	 Zaborniak, Martin T.
 	  
 	  
 	 325
 	  
 
	 Zayas, William
 	  
 	  
 	 325
 	  
 

 - 6 -Amended and Restated Stock Option Agreement

 Exhibit 10(p)
  BERGER HOLDINGS, LTD.
  AMENDED AND RESTATED
 STOCK OPTION AGREEMENT
             This AGREEMENT, made as of
____________, between Berger Holdings, Ltd., a Pennsylvania corporation (the “Company”) and [NAME] (“Optionee”) supersedes and replaces all other contracts and agreements between the Optionee and the Company relating to the grant
of stock options, including but not limited to that certain Amended and Restated Stock Option Agreement dated as of August 19, 1996 and that certain Stock Option Agreement, dated May 1, 1995, by and between the Company and the Optionee:

	  1.
 	  The Company hereby grants to the Optionee stock options (the “Options”) to purchase an aggregate total of ______________ (___,000) shares of the Common
Stock, $0.01 par value of the Company (the “Common Stock”) as additional compensation for his services to the Company as [TITLE] of the Company.  The shares of Common Stock issuable upon exercise of the Options are hereinafter
referred to as the “Shares.”
 
	  
 	  
 
	  2.
 	  The exercise price of the Options (the “Option Price”) shall be __________ Dollars ($____) per share.  The Option Price shall be payable at the time
of exercise to the Company (i) in full by cash or other immediately available good funds or (ii) by payment of the par value of the Shares and the execution and delivery to the Company of a Promissory Note in the form attached hereto as Exhibit
A.
 
	  
 	  
 
	 3.
 	  No Option shall be exercisable after ten (10) years from the date of the grant thereof.
 
	  
 	  
 
	  4.
 	  The Options shall vest in the following amounts on the following dates:
 
	  
 	  
 
	  
 	  [SEE ATTACHED SCHEDULE]
 
	  
 	  
 
	  
 	  provided, however, that in the event that the Optionee dies prior to the vesting of any Option, all such Options shall immediately vest;
provided further, however, that upon the occurrence, prior to the vesting of any Option, of a Change in Control, as herein defined, all such Options shall immediately vest.  “Change in Control” shall mean a change
in control of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A promulgated under the Securities Exchange Act of 1934, as amended, as in effect on the date hereof; and

	  
 	  
 
	  
 	  provided further, however, that in the event that at any time (the “Trigger Date”) the Optionee is neither an officer nor a director
of the Company prior to the vesting of any Option for any cause other than death, all such Options shall terminate at 5:00 PM on the nintieth (90th) day after the Trigger Date.
 
	  
 	  
 
	  
 	 In the event that Optionee dies prior to fully exercising the Options, the legal representative of such Optionee shall have the right to exercise the
Options.
 
			

	  
 	  Once vested, Options shall not terminate until fully exercised.  In the event that Optionee dies prior to fully exercising the Options, the legal representative
of such Optionee shall have the right to exercise the Options.
 
	  
 	  
 
	  5.
 	  The Company hereby agrees that at all times it will maintain and reserve, free from preemptive rights, such number of authorized but unissued shares of stock so that
the Options may be exercised without additional authorization of additional stock after giving effect to all other options, warrants, convertible securities and other rights to acquire shares of stock.
 
	  
 	  
 
	  6.
 	  The Options may not be exercised if the issuance of the Shares upon such exercise would constitute a violation of any applicable federal or state securities or other
law or valid regulation.  The Shares have not been registered under the Securities Act of 1933, as amended (the “Act”) or any state securities or other law.
 
	  
 	  
 
	 7.
 	  In the event that the Company at any time proposes to register any of its securities under the Act, whether for its own account or for the account of other
securityholders or both (except with respect to registration statements on Form S-4 or another form not available for registering the Shares), the Company shall, on each such occasion, give written notice to the Optionee of its intention to do
so.  Upon the written request of the Optionee, given within twenty (20) days after receipt of such notice, the Company will cause the Shares as to which registration has been requested to be covered by such Registration Statement in order to
permit the sale or other disposition by the Optionee.
 
	  
 	  
 
	  
 	  (a)
 	  The Company’s obligation as set forth above extends only to the use of all reasonable efforts to register the Shares pursuant to a Registration Statement. 
The Company shall have no obligation whatsoever to indemnify or hold harmless the Optionee in connection with the sale of the Shares.
 
	  
 	  
 
	  
 	  (b)
 	  The Company will use all reasonable efforts to:
 
	  
 	  
 
	  
 	  
 	  (i)
 	  prepare and file with the Commission a Registration Statement with respect to such securities and use its reasonable efforts to cause such Registration Statement to become and
remain effective for the period of the distribution contemplated thereby or as required under the Act, but in no event shall the Company be obligated to cause any Registration Statement to remain effective beyond a period ending two (2) years from
the date of effectiveness;
 
	  
 	  
 
	  
 	  
 	 (ii)
 	  prepare and file with the Commission such amendments and supplements to such Registration Statement and the prospectus used in connection therewith as may be necessary to keep
such Registration Statement effective for the period specified above and as comply with the provisions of the Act;
 
	  
 	  
 
	  
 	  
 	  (iii)
 	  furnish to the Optionee such number of copies of the Registration Statement and the prospectus included therein as the Holder may 
 

  - 2 -

	  
 	  
 	  
 	  reasonably request in order to facilitate the sale of the Shares covered by such Registration Statement;
 
	  
 	  
 
	  
 	  
 	  (iv)
 	  use its reasonable efforts to register or qualify the Shares covered by such Registration Statement under the securities or blue sky laws of such jurisdictions as the Holder
shall reasonably request; provided, however, that the Company shall not for any such purpose be required to qualify generally to transact business as a foreign corporation in any jurisdiction where it is not so qualified or to consent to general
service of process in any such jurisdiction;
 
	  
 	  
 
	  
 	  
 	 (v)
 	  immediately notify the Optionee, at any time when a prospectus relating thereto is required to be delivered under the Act, of the happening of any event as a result of which the
prospectus contained in such Registration Statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required or necessary to be stated therein in order to make the statements contained therein
not misleading in light of the circumstances then existing; and
 
	  
 	  
 
	  
 	  
 	  (vi)
 	  if the Common Shares of the Company is listed on any securities exchange or automated quotation system, the Company shall use its best efforts to list (with the listing
application being made at the time of the filing of such Registration Statement or as soon thereafter as is reasonably practicable) the Shares covered by such Registration Statement on such exchange or automated quotation system.
 
	  
 	  
 
	  
 	  (c)
 	  For the purposes of this Subparagraph (c), the term “Registration Expenses” shall mean: all expenses incurred by the Company in complying with this
Paragraph 7, including, without limitation, all registration and filing fees, printing expenses, fees and disbursements of counsel and independent public accountants for the Company (other than the expenses of any special audit as described below),
fees of the National Association of Securities Dealers, Inc. (“NASD”), fees and expenses of listing the Shares on any securities exchange or automated quotation system on which the Company’s shares are listed and fees of transfer
agents and registrars.  The term “Selling Expenses” shall mean: all underwriting discounts and selling commissions applicable to the sale of the Shares; the cost of any special (i.e., other than fiscal year-end) audit required by the
Act as a result of the Company’s obligation to maintain the effectiveness of the Registration Statement, and any fees and expenses of compliance with Blue Sky laws.
 
	  
 	  
 	  
 
	  
 	  
 	 The Company shall pay all Registration Expenses in connection with the Registration Statement filed pursuant to this Paragraph 7.  The Optionee shall pay all
Selling Expenses in connection with such registration.
 
	  
 	  
 
	  
 	  (d)
 	  In connection with the registration hereunder, as a condition precedent to including the Optionee’s Shares in the Registration Statement, the Optionee will
furnish to the Company in writing such information with respect to it and the 
 

  - 3 -

	  
 	  
 	  securities held by it and the proposed distribution by it as shall be reasonably requested by the Company in order to assure compliance with federal and applicable state
securities laws.  The Optionee also hereby agrees to promptly notify the Company of any changes in such information included in the Registration Statement or prospectus as a result of which there is an untrue statement of material fact or an
omission to state any material fact required or necessary to be stated therein in order to make the statements contained therein not misleading in light of the circumstances then existing.
 
	  
 	  
 
	  
 	 (e)
 	  In connection with the registration pursuant to this Paragraph 7, the Optionee will not effect sales thereof until notified in writing by the Company of the effectiveness of the
Registration Statement, and thereafter will suspend such sales after receipt of telegraphic or written notice from the Company to suspend sales to permit the Company to correct or update a Registration Statement or prospectus.  At the end of
the period during which the Company is obligated to keep the Registration Statement current, the Optionee shall discontinue sales of shares pursuant to such Registration Statement upon receipt of notice from the Company of its intention to remove
from registration the shares covered by such Registration Statement which remain unsold, and the Optionee shall notify the Company of the number of shares registered which remain unsold immediately upon receipt of such notice from the
Company.
 
	  
 	  
 
	  8.
 	  If the Shares are not then registered under the Act, as a condition to the exercise of any or all of these Options, Optionee shall, at the time of exercise,
represent to the Company that any Shares which he acquires are being acquired by the Optionee for investment and not with a current view to further distribution or resale thereof.  Optionee consents that the certificate(s) issued pursuant to
the exercise of the Option shall bear a legend, if applicable, referring to the unregistered status of the Shares and indicating that transfers thereof are restricted.
 
	  
 	  
 
	  9.
 	  The Options may not be transferred in any manner other than by will or the laws of descent or distribution.  The terms of the Options shall be binding upon the
executors, administrators, heirs, successors and assigns of the Optionee.
 

 

	  Dated as of August 19, 1996
 	  BERGER HOLDINGS, LTD.
 
	  
 	  
 
	  
 	  By:
 
	  
 	  
 	 
 
	  
 	  Name:
 
	  
 	  Title:
 
	  Accepted and agreed to:
 	  
 
	  
 	  
 
	 
 	  
 	  
 
	  [OPTIONEE]
 	  
 
				

 - 4 -

  BERGER HOLDINGS, LTD.
  AMENDMENT TO
 AMENDED AND RESTATED
 STOCK OPTION
AGREEMENT
             This Amendment, made as of ___________, 1997, between Berger Holdings, Ltd., a Pennsylvania corporation (the
“Company”) and [NAME] (“Optionee”) amends and restates in its entirety Section 9 of that certain certain Amended and Restated Stock Option Agreement (the “Agreement”), made as of August 19, 1996, between the Company and
the Optionee, which amended and restated in its entirety that certain Stock Option Agreement, dated May 1, 1995, by and between the Company and the Optionee, as set forth below.  All capitalized terms used and not defined herein shall have the
meanings set forth in the Agreement.

	  9.
 	  The Options may not be transferred in any manner other than by will or the laws of descent or distribution; provided, however, that Options may be transferred by the Optionee to
a Family Member or a Related Party (each as defined below) of the Optionee.  A “Family Member” is defined as a child, stepchild, grandchild, parent, stepparent, grandparent, spouse, sibling, mother-in-law, father-in-law, son-in-law,
daughter-in-law, brother-in-law or sister-in-law, and shall include adoptive relationships. A “Related Party” is defined as a trust, partnership or corporation whose only equity owners are Family Members.  The terms of the Options
shall be binding upon the executors, administrators, heirs, successors and assigns of the Optionee.
 

 

	  Dated as of ___________, 1997
 	  BERGER HOLDINGS, LTD.
 
	  
 	  
 
	  
 	 By:
 
	  
 	  
 	 
 
	  
 	  Name:
 
	  
 	  Title:
 
	  
 	  
 
	  Received and Acknowledged this
 	  
 
	  ____ day of _____________, 1997
 	  
 
	  
 	  
 
	 
 	  
 	  
 
	  [OPTIONEE]
 	  
 
				

  - 5 -

 Schedule of Omitted Information

	   
 	   
 	 Aggregate
 Number of
 Options	   
 	Number
 of 
 Options
 vesting as
 of April
 13, 1993	 	  Number of Options vesting on December 31,
 	   
 
	   
 	   
 	   
 	 
 	   
 
	  Name of Optionee
 	  
 	  
 	  1994
 	  
 	  1995
 	  
 	  1996
 	  
 	  1997
 	  
 	  1998
 	  
 	  1999
 	  
 	  2000
 	  
 
	 
 	  
 	 
 	 
 	  
 	 
 	 	 
 	 
 	  
 	 
 	 
 	  
 	 
 	 
 	  
 	 
 	 
 	  
 	 
 	 
 	  
 	 
 	 
 	  
 	 
 	 
 	  
 
	 Theodore A. Schwartz
 	  
 	  
 	  490,000
 	  
 	 40,000
 	 	  
 	  50,000
 	  
 	  
 	  50,000
 	  
 	  
 	  50,000
 	  
 	  
 	  50,000
 	  
 	  
 	  50,000
 	  
 	  
 	  100,000
 	  
 	  
 	  100,000
 	  
 
	 Joseph F. Weiderman
 	  
 	  
 	  457,500
 	  
 	 7,500
 	 	  
 	  50,000
 	  
 	  
 	  50,000
 	  
 	  
 	  50,000
 	  
 	  
 	  50,000
 	  
 	  
 	  50,000
 	  
 	  
 	  100,000
 	  
 	  
 	  100,000
 	  
 
	  Paul L. Spiese, III
 	  
 	  
 	  453,250
 	  
 	 3,250
 	 	  
 	  50,000
 	  
 	  
 	  50,000
 	  
 	  
 	  50,000
 	  
 	  
 	  50,000
 	  
 	  
 	  50,000
 	  
 	  
 	  100,000
 	  
 	  
 	  100,000
 	  
 
	 Francis E. Wellock, Jr.
 	  
 	  
 	  264,000
 	  
 	 —  
 	 	  
 	  9,000
 	  
 	  
 	  15,000
 	  
 	  
 	  30,000
 	  
 	  
 	  30,000
 	  
 	  
 	  30,000
 	  
 	  
 	  75,000
 	  
 	  
 	  75,000
 	  
 
	  Irving Kraut, D.D.S.
 	  
 	  
 	  115,000
 	  
 	 —  
 	 	  
 	  —  
 	  
 	  
 	  10,000
 	  
 	  
 	  15,000
 	  
 	  
 	  15,000
 	  
 	  
 	  15,000
 	  
 	  
 	  30,000
 	  
 	  
 	  30,000
 	  
 
	 Jacob I. Haft, M.D.
 	  
 	  
 	  125,000
 	  
 	 —  
 	 	  
 	  5,000
 	  
 	  
 	  15,000
 	  
 	  
 	  15,000
 	  
 	  
 	  15,000
 	  
 	  
 	  15,000
 	  
 	  
 	  30,000
 	  
 	  
 	  30,000
 	  
 
	  Larry Falcon
 	  
 	  
 	  90,000
 	  
 	 —  
 	 	  
 	  —  
 	  
 	  
 	  —  
 	  
 	  
 	  —  
 	  
 	  
 	  15,000
 	  
 	  
 	  15,000
 	  
 	  
 	  30,000
 	  
 	  
 	  30,000
 	  
 
	 Jeffrey Schocket
 	  
 	  
 	  51,000
 	  
 	 1,000
 	 	  
 	  5,000
 	  
 	  
 	  15,000
 	  
 	  
 	  15,000
 	  
 	  
 	  15,000
 	  
 	  
 	  —  
 	  
 	  
 	  —  
 	  
 	  
 	  —  
 	  
 

 

	  
 	            All of the options in the above table were granted under option documents in the form of agreement to which this
schedule is attached or under similar agreements.  All of the options have exercise prices of $1.50 per share, except for the options vesting on December 31, 1999 and 2000, which have exercise prices of $1.59 per share.
 

 - 6 -

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