Document:

Sixth Amended and Restated BancFirst Corporation Stock Option Plan.

 Exhibit 4.1 
  

SIXTH AMENDED AND RESTATED 
 BANCFIRST CORPORATION STOCK OPTION PLAN 
  

	1.	PURPOSE. This Sixth Amended and Restated BancFirst Corporation Stock Option Plan (i) incorporates the Fourth Amendment to and Restatement of the BancFirst Corporation
Stock Option Plan (the “Fourth Restatement”), adopted by the stockholders of BancFirst Corporation (together with its “Subsidiaries,” as defined below, the “Corporation”) on June 15, 1998; (ii) incorporates certain
provisions adopted effective May 23, 1996 but inadvertently omitted from the Fourth Restatement; (iii) incorporates the Fifth Amendment to and Restatement of the BancFirst Corporation Stock Option Plan (the “Fifth Restatement”), adopted by
the stockholders of the Corporation on May 24, 2001, omitting certain provisions erroneously included therein; (iv) incorporates a First Amendment to the Fifth Restatement, which amendment was adopted by the Board of Directors on September 27, 2001
and effective as of such date as an amendment not requiring the approval of the stockholders of BancFirst Corporation, and (v) incorporates a Second Amendment adopted by the stockholders of the Corporation on May 27, 2004. 

 
 The Plan is intended as an incentive and to encourage stock ownership by
certain key employees and officers of the Corporation in order to increase their proprietary interest in the Corporation’s success. 
  

	2.	DEFINITIONS. As used herein, the following terms shall have the corresponding meanings: 

  

	 	2.1.	“Committee” shall mean the Board of Directors of the Corporation, or a duly constituted committee of the Board consisting of three or more members.

  

	 	2.2	“Common Stock” shall mean the common stock, par value $1.00 per share, of the Corporation. 

  

	 	2.3.	“Date of Grant” shall mean the date of grant of a Stock Option granted hereunder as set forth in the Stock Option Agreement. In the event of a grant conditioned, among
other things, upon stockholder ratification of this Plan, the date of such conditional grant shall be the Date of Grant for purposes of this Plan. 

  

	 	2.4.	“Employee” shall mean any common-law employee of the Corporation. The determination of whether or not a person is an Employee of the Corporation with respect to the grant
or exercise of an Incentive Stock Option shall be made in accordance with the rule of Income Tax Regulation Section 1.421-7(h) (or successor regulation). 

  

	 	2.5.	“Fair Market Value” shall mean, with respect to the exercise of an option under the Plan, (a) if the Common Stock is listed on a national securities exchange or the NASDAQ
National Market System, the closing price of the Common Stock for the 

 business day immediately preceding the day for which the determination is being made, or (b) if the
Common Stock is not then listed on an exchange, the average of the closing bid and asked prices per share for the Common Stock in the over-the-counter market as quoted on NASDAQ for the business day immediately preceding the day for which the
determination is being made, or (c) if the Common Stock is not then listed on any exchange or quoted on NASDAQ, an amount determined in good faith by the Committee to be the fair market value of the Common Stock, after consideration of all relevant
factors. 
  

	 	2.6	“Nonqualified Stock Option” shall mean a Stock Option which is not intended to qualify for tax treatment as an “incentive stock option” under Section 422 of the
Code. 

  

	 	2.7.	“Option Exercise Price” shall mean the price paid for Shares upon the exercise of a Stock Option granted hereunder. 

  

	 	2.8.	“Optionee” shall mean any person entitled to exercise a Stock Option pursuant to the terms of the Plan. 

  

	 	2.9.	“Stock Option” shall mean a stock option giving an Optionee the right to purchase shares of the Corporation’s Common Stock. Stock Options granted under the Plan shall
be Nonqualified Stock Options. 

  

	3.	ADMINISTRATION. 

  

	 	3.1	AUTHORITY; INDEMNIFICATION. Within the limitations described herein, the Committee shall administer the Plan, select the Employees of the Corporation, including officers of
the Corporation, to whom Stock Options shall be granted, determine the number of Shares to be subject to each grant, determine the method of payment upon exercise of each Stock Option, determine all other terms of Stock Options granted hereunder and
interpret, construe and implement the provisions of the Plan. All questions of interpretation of the Plan or any Stock Option granted under the Plan shall be determined by the Committee, and such decisions shall be binding upon all persons having an
interest in the Plan and/or any Stock Option. No member of the Committee shall be liable for any action or determination made in good faith, and the members shall be entitled to indemnification and reimbursement in the manner provided in the
Corporation’s Certificate of Incorporation, or as otherwise permitted by law. 

  

	 	3.2	RULE 16B-3 COMPLIANCE. With respect to the participation of eligible participants who are subject to Section 16(b) of the Exchange Act, the Plan shall be administered in
compliance with the requirements of Rule 16b-3. 

  

 2 

	 	3.3	SECTION 162(M) COMPLIANCE. In the event the Corporation is a “publicly held corporation” as defined in paragraph (2) of section 162(m) of the Code, as amended by
the Revenue Reconciliation Act of 1993 (P.L. 103-66), and the regulations promulgated thereunder (“Section 162(m)”), the Corporation shall establish a committee of outside directors meeting the requirements of Section 162(m) to approve the
grant of Stock Options which might reasonably be anticipated to result in the payment of employee remuneration that would otherwise exceed the limit on employee remuneration deductible for income tax purposes pursuant to Section 162(m).

  

	4.	ELIGIBILITY. The individuals who shall be eligible to participate in the Plan shall be such key Employees (including officers) of BancFirst Corporation, or of any
corporation (“Subsidiary”) in which the Corporation has proprietary interest by reason of stock ownership or otherwise, including any corporation in which the Corporation acquires a proprietary interest after the adoption of this Plan (but
only if the Corporation owns, directly or indirectly, stock possessing not less than 50% of the total combined voting power of all classes of stock in the corporation), as the Committee shall determine from time to time. 

  

	5.	STOCK. The stock subject to Stock Options and other provisions of the Plan shall be shares of the Corporation’s authorized but unissued Common Stock or treasury
stock, as determined by the Committee. Subject to adjustment in accordance with the provisions of Subparagraph 6.7 hereof, the total number of shares of Common Stock of the Corporation on which Stock Options may be granted under the Plan shall not
exceed in the aggregate 1,200,000 shares. In the event that any outstanding Stock Option under the Plan for any reason expires or is terminated prior to the end of the period during which Stock Options may be granted, the shares of the Common Stock
allocable to the unexercised portion of such Stock Option may again be subject to a Stock Option under the Plan. 

  

	6.	TERMS AND CONDITIONS OF STOCK OPTIONS. Stock Options granted pursuant to the Plan shall be evidenced by agreements in such form as the Committee shall, from time to
time, approve. Agreements shall comply with and be subject to the following terms and conditions: 

  

	 	6.1	MEDIUM AND TIME OF PAYMENT. The Option Exercise Price shall be payable in United States Dollars upon the exercise of the Stock Option and may be paid in cash or by certified
check, bank draft or money order payable to the order of the Corporation, unless otherwise determined by the Committee. 

  

	 	6.2	NUMBER OF SHARES. The Stock Option shall state the total number of shares to which it pertains. 

  

 3 

	 	6.3	OPTION EXERCISE PRICE. The Option Exercise Price shall be not less than the Fair Market Value of the Common Stock on the Date of Grant. 

  

	 	6.4	TERM OF STOCK OPTIONS. The period during which Stock Options shall be exercisable shall be fixed by the Committee, but in no event shall a Stock Option be exercisable after
the expiration of fifteen (15) years from the date such Stock Option is granted. Subject to the foregoing, Stock Options shall be exercisable at such times and be subject to such restrictions and conditions as the Committee shall in each instance
determine, which restrictions and conditions need not be the same for all Stock Options. 

  

	 	6.5	DATE OF EXERCISE. Unless otherwise determined by the Committee at the time of granting a Stock Option, Stock Options shall be exercisable at the rate set forth below
beginning four years from the Date of Grant. After becoming exercisable, the Stock Option may be exercised at any time and from time to time in whole or in part until termination of the Stock Option as set forth in Sections 6.4 or 6.6.

  

							
	 Elapsed Years from
 Date of
Grant

	  	Percent
of Shares

	 	 	 Cumulative
 Percent
 of Shares

	 
	 less than 4 years
	  	0	%	 	0	%
	 4 to 5 years
	  	25	%	 	25	%
	 5 to 6 years
	  	25	%	 	50	%
	 6 to 7 years
	  	25	%	 	75	%
	 more than 7 years
	  	25	%	 	100	%

  

	 	6.6	TERMINATION OF EMPLOYMENT. In the event that an Optionee’s employment by the Corporation shall terminate, his Stock Option whether or not then exercisable shall
terminate immediately; provided, however, that if the termination is not as a result of embezzlement, theft or other violation of the law, the Optionee shall have the right to exercise his option (to the extent exercisable at the time of
termination) at any time within 30 days after such termination; provided, further, that if any termination of employment is related to the Optionee’s retirement with the consent of the Corporation, the Optionee shall have the right to exercise
his Stock Option (to the extent exercisable up to the date of retirement) at any time within three months after such retirement; and provided, further, that if the Optionee shall die while in the employment of the Corporation or within the period of
time after termination of employment or retirement during which he was entitled to exercise his option as hereinabove provided, his estate, personal representative, or beneficiary shall have the right to exercise his Stock Option (to the extent
exercisable at the date of death) at any time within twelve (12) months from the date of his death. 

  

 4 

	 	6.7	RECAPITALIZATION. The aggregate number of shares of Common Stock on which Stock Options may be granted to persons participating under the Plan, the number of shares thereof
covered by each outstanding Stock Option, and the price per share thereof in each such Stock Option, shall all be proportionately adjusted for any increase or decrease in the number of issued shares of Common Stock of the Corporation resulting from
a subdivision or consolidation of shares or other capital adjustment, or the payment of a stock dividend or other increase or decrease in such shares, effected without receipt of consideration by the Corporation; provided, however, that any
fractional shares resulting from such adjustment shall be eliminated. In the event of a change in the Corporation’s Common Stock which is limited to a change in the designation thereof to “Capital Stock” or other similar designation,
or a change in the par value thereof, or from par value to no par value, without increase in the number of issued shares, the shares resulting from any such change shall be deemed to be Common Stock within the meaning of the Plan.

  

	 	6.8	REORGANIZATION OF CORPORATION. Subject to any required action by the stockholders, if the Corporation shall be the surviving or resulting corporation in any merger or
consolidation which does not result in change of control of the Corporation, any Stock Option granted hereunder shall pertain to and apply to the securities to which a holder of the number of shares of Common Stock subject to the Stock Option would
have been entitled. In the event of a dissolution or liquidation of the Corporation or a merger or consolidation in which the Corporation is not the surviving or resulting corporation or which results in a change in control of the Corporation, or a
tender or exchange offer which results in a change in control of the Corporation, the Committee shall determine: (i) whether all or any part of the unexercisable portion (as set forth in section 6.5) of any Stock Option outstanding under the Plan
shall terminate; (ii) whether the Stock Options shall become immediately exercisable; or (iii) whether such Stock Options may be exchanged for options covering securities of any such surviving or resulting corporation, subject to the agreement of
any such surviving or resulting corporation, on terms and conditions substantially similar to a Stock Option hereunder. 

  

	 	6.9	ASSIGNABILITY. Except as provided in this Section, no Stock Option shall be assignable or transferable except as follows: 

  

	 	(a)	by will or by the laws of descent and distribution. 

  

	 	(b)	for the purpose of making a charitable gift as permitted by Section 6.13. 

  

 5 

	 	(c)	to the Optionee as trustee, or to the Optionee and one or more others as co-trustees, of a revocable trust which allows the Optionee to amend or revoke the trust at any time. If the
Optionee relinquishes his power to amend or revoke the trust or resigns as a trustee, the Optionee shall withdraw the Stock Option from the trust prior to the relinquishment of such power or his resignation as trustee and shall revest title to the
Stock Option in the Optionee’s individual name. If the trust becomes irrevocable due to the death of the Optionee, the successor or remaining trustee(s) shall have the same power to exercise the Stock Option under Section 6.6 hereof as the
personal representative. If the Optionee becomes incapacitated, the date of incapacity shall be deemed for purposes of this Plan as the date of termination of employment under Section 6.6 (whether or not Optionee’s employment has actually
terminated), and the successor or remaining trustee(s) of the trust shall have the same right to exercise the Stock Option as a terminated Optionee has under Section 6.6. The Optionee as trustee and any successor or remaining trustee(s) shall be
bound by all the terms and conditions of the Plan and the Stock Option Agreement entered into by the Company and Optionee under this Plan. 

  

	 	(d)	to the extent set forth in the Stock Option Agreement governing such Stock Option. 

  

	 	6.10	OPTIONEE’S AGREEMENT. If, at the time of the exercise of any Stock Option, it is necessary or desirable, in order to comply with any applicable laws or regulations
relating to the sale of securities, that the Optionee exercising the Stock Option shall agree that he will purchase the shares that are subject to the Stock Option for investment and not with any present intention to resell the same, the Optionee
will, upon the request of the Corporation, execute and deliver to the Corporation an agreement to such effect. 

  

	 	6.11	RIGHTS AS A STOCKHOLDER. An Optionee shall have no rights as a stockholder with respect to shares covered by his Stock Option until the date of issuance of the shares to him
and only after such shares are fully paid. 

  

	 	6.12	OTHER PROVISIONS. The Stock Option Agreements authorized under the Plan may contain such other provisions as the Committee shall deem advisable. 

  

	 	6.13	CHARITABLE GIFT. An Optionee shall be permitted to assign his Stock Option without consideration, either in full or in one or more partial assignments from time to time, to
any organization that has been recognized by the Internal Revenue Service as qualifying under Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (a “Charity”). Assignment(s) may be made during the Optionee’s

  

 6 

 lifetime or may be effective upon his death. If a Stock Option is assigned to a Charity, in whole or in
part, it shall continue to be subject to the restrictions of Sections 6.5 and 6.6 hereof, which shall thereafter apply to the same extent as if the Stock Option were still held by the Optionee himself (if he is living), or by his estate, personal
representative or beneficiary (if he is deceased). 
  

	7.	MARKETABILITY OF SHARES. The Common Stock is currently traded on the NASDAQ National Market System. As a result, its liquidity varies widely in response to supply and
demand. Consequently, the Corporation can give no assurances as to the marketability of shares acquired under the Plan. 

  

	8.	TAX IMPLICATIONS. It is anticipated that Stock Options granted under the Plan will be treated as Nonqualified Stock Options by the Internal Revenue Service. As such,
exercise of the Stock Option would generate a taxable event with the difference between the original Option Exercise Price and the Fair Market Value of the Common Stock at the time of exercise being treated as ordinary income. If a Stock Option is
transferred to a Charity as permitted by Sections 6.9(b) and 6.13 hereof, the Optionee should expect to have ordinary income attributed to him at the time the Charity exercises the Stock Option, in the same amount and with the same effect as if the
Optionee himself exercised the Stock Option. 

  

	9.	TERM OF PLAN. No Stock Option may be granted after December 31, 2011. 

  

	10.	NO OBLIGATION TO EXERCISE OPTION. The granting of a Stock Option shall impose no obligation upon the Optionee to exercise such Stock Option. 

 

	11.	AMENDMENTS. The Board of Directors may from time to time amend, alter, suspend, or discontinue the Plan or alter or amend (including decrease of the Option Exercise
Price by cancellation and substitution of options or otherwise) any and all option agreements granted thereunder; provided, however, that after the first registration of the Common Stock under Section 12 of the Securities Exchange Act of 1934, no
such action of the Board of Directors may, without approval of the stockholders of the Corporation, alter the provisions of the Plan so as to (a) materially increase the benefits accruing to participants under the Plan; (b) materially increase the
number of securities which may be issued under the Plan; or (c) materially modify the requirements as to eligibility for participation in the Plan; and provided, further, that no amendment may, without the consent of the Optionee, affect any then
outstanding Stock Options or unexercised portions thereof. In addition, the approval of the Corporation’s stockholders shall be sought for any amendment to the Plan or a Stock Option for which the Committee deems stockholder approval necessary
in order to comply with Rule 16b-3. 

  

 7Monthly Payment Date Statement distributed to holders of Series 2004-1 Notes

 Exhibit 10.1 
  

					
	 JPMorgan Chase Bank – Structured Finance Services
	 	 	 	 
	 4 New York Plaza, 6th Floor
	 	 	 	Distribution Date: 9/27/04
	 New York, NY 10004-2477
	 	 	 	 
	 Officer:         Taoheed A. Agbabiaka
	 	ph:  212-623-4481	 	 
	 	 	fax: 212-623-5858	 	 

  
 GreenPoint Mortgage
Securities LLC 
  
 GreenPoint Home Equity Loan Trust 2004-1

  
 Home Equity Loan Asset-Backed Notes 
 Series 2004-1 
  
 Distribution In Dollars 
  

																	
	 Class

	  	Original Face
Value

	  	Beginning
Principal Balance

	  	Principal

	  	Interest

	  	Total

	  	Realized
Loses

	  	Deferred
Interest

	  	Ending Principal
Balance

	 A1
	  	202,045,000.00	  	125,190,106.89	  	8,612,058.50	  	211,727.77	  	8,823,786.27	  	0.00	  	0.00	  	116,578,048.39
	 TOTALS
	  	202,045,000.00	  	125,190,106.89	  	8,612,058.50	  	211,727.77	  	8,823,786.27	  	0.00	  	0.00	  	116,578,048.39

  
 Factor Information
Per $1000 Of Original Face 
  

													
	 Class

	  	Cusip

	  	Beginning
Principal

	  	Principal

	  	Interest

	  	Total

	  	Ending
Principal

	 A1
	  	395385AQ0	  	619.61497137	  	42.62445742	  	1.04792383	  	43.67238125	  	576.99051394
	 TOTALS
	  	 	  	619.61497137	  	42.62445742	  	1.04792383	  	43.67238125	  	576.99051394

  
 Pass-Through Rates

  

										
	 	 
	 Class

	  	Previous

	 	 	Current

	 	 	Next

	 
	 A1
	  	1.680000	%	 	1.845000	%	 	0.000000	%

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00072-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00072-of-00352.parquet"}]]