Document:

Exhibit 10.2

 

HOUSTON WIRE & CABLE COMPANY

2006 STOCK PLAN

(As Amended and Restated Effective March 1, 2015)

FORM OF DIRECTOR

NONQUALIFIED STOCK OPTION AGREEMENT

[DATE]

 

[NAME]

[ADDRESS]

 

Dear [NAME]:

 

I am pleased to inform
you that on [DATE], pursuant to the Houston Wire & Cable Company 2006 Stock Plan, as amended and restated effective March 1,
2015 (the “Plan”), the Board of Directors (the “Board”) of Houston Wire & Cable Company
(the “Company”) granted to you a Non-Qualified Stock Option (the “Option”) to acquire shares
of common stock, par value $0.01 per share (“Shares”), of the Company. This letter agreement constitutes your
Stock Option Agreement under the Plan with respect to the Option.

 

1.          Option
Grant. On [DATE] (the “Date of Grant”), you were granted the Option to purchase, subject to the terms and
conditions of this Stock Option Agreement and the Plan, all or any part of [NUMBER OF SHARES] Shares at a price of [$____] per
Share. The number of Shares and the price per Share are subject to adjustment, as provided in the Plan.

 

2.          Term.
The term of the Option shall be for a period of ten years from the date hereof and shall expire at the close of regular business
hours at the Company’s principal office, Houston Wire & Cable Company, 10201 North Loop East, Houston, Texas 77029 on
the last day of the term of the Option, unless the Option terminates earlier as herein provided. Notwithstanding the foregoing,
(a) if your service as a member of the Board terminates for any reason other than your death or Disability, the then vested portion
of the Option shall continue to be exercisable until the earlier of (i) the 60th day after the date of such termination
or (ii) ten years after the date hereof, and (b) if your service as a member of the Board terminates due to your death or Disability,
the then vested portion of the Option shall continue to be exercisable until the earlier of (i) 12 months after the date of such
termination or (ii) ten years after the date hereof. In any event, any portion of the Option that is not vested as of the date
of termination of your service shall expire as of such date and shall not be exercisable. “Disability” means that,
in the sole judgment of the Committee, you are (x) unable to perform your duties with the Company for 60 consecutive days or 90
cumulative days during any six-month period or (y) eligible for long-term disability benefits under the Company’s plans,
programs or policies, in either case as a result of injury, mental illness or physical illness.

 

3.          Vesting.
Subject to the other terms and conditions of this Stock Option Agreement and the Plan, the Option shall vest entirely on [DATE].
This Option may be exercised only to the extent, if any, that it is then vested.

 

    	 

    	 

    

  

4.          Exercise.
You may not exercise any vested portion of this Option more than once in any calendar year without the Company’s prior written
consent and the Option may not be exercised after it expires or terminates as provided in paragraph 2. The Option may be exercised
by giving written notice (in a form substantially similar to Appendix A attached hereto) to the Treasurer of the Company
at its principal office, stating the number of Shares with respect to which the vested Option is being exercised and tendering
payment for the full purchase price of such Shares. The purchase price must be paid in cash, unless another method is authorized
by the Committee. You are responsible for the payment of any taxes (other than stock transfer taxes) arising in connection with
the issuance or transfer of Shares pursuant to the Option and will promptly pay any taxes required to be collected or withheld
by the Company or its subsidiary upon the Company’s or such subsidiary’s demand.

 

5.          Insider
Trading Policy. The exercise of the Option and any sale of the Shares issuable upon such exercise are subject to the provisions
of the Company’s Insider Trading Policy, as in effect from time to time.

 

6.          Nontransferability.
You may not transfer, sell, pledge, encumber or otherwise dispose of the Option, except that you may, with the prior written approval
of the Committee, transfer the Option to the following persons or entities: (i) immediate family members, (ii) custodianships under
the Uniform Transfers to Minors Act or any similar statute, (iii) trusts for the benefit of any immediate family member, (iv) trusts
created by you for your primary benefit, and (v) upon termination of a custodianship under the Uniform Transfers to Minors Act
or similar statute or the termination of a trust by the custodian or trustee thereof, or the partial or complete liquidation of
an entity, to the person or persons who, in accordance with the terms of such custodianship, trust or entity, are entitled to receive
Options held in custody, trust or by the entity.

 

7.          Plan
Governs. The terms of this Stock Option Agreement shall be subject to the terms of the Plan. If there is any inconsistency
between the terms of this Stock Option Agreement and the terms of the Plan, the Plan’s terms shall govern. All capitalized
terms shall have the meanings ascribed to them in the Plan, unless otherwise set forth herein. A copy of the Plan is attached hereto
and the terms of the Plan are hereby incorporated by reference.

 

8.          Stockholder
Status. This Stock Option Agreement does not confer upon you or any holder hereof any right as a stockholder of the Company
prior to the issuance of Shares pursuant to the exercise of the Option.

 

9.          Acceptance.
The exercise of the Option is conditioned upon your acceptance of this Stock Option Agreement and your return of an executed copy
to the Treasurer of the Company within 30 days after receipt hereof.

 

    	-2-

    	 

    

 

	 	HOUSTON WIRE & CABLE COMPANY
	 	 	 
	 	By:	 
	 	 	 
	 	Its:	 

 

AGREED AND ACCEPTED

 

I acknowledge receipt of
the Houston Wire & Cable Company 2006 Stock Plan, as amended and restated effective March 1, 2015 (the “Plan”)
and hereby accept this Nonqualified Stock Option subject to all the terms and conditions thereof. I agree to accept as binding,
conclusive and final all decisions and interpretations of the Board or the Committee regarding any questions arising under the
Plan or this Stock Option Agreement.

 

	Dated:	 	 

 

	 	Print Name:	 
	 	 	 
	 	Signature:	 

 

    	-3-

    	 

    

 

APPENDIX A

 

Houston Wire & Cable Company

10201 North Loop East

Houston, Texas 77029

Attn: Treasurer

 

NOTICE OF EXERCISE OF NONQUALIFIED STOCK
OPTION

 

I hereby give notice of
my election to exercise, to the extent stated below, the nonqualified stock option (“Option”) granted to me
on [DATE] to purchase [NUMBER OF SHARES] shares of common stock, par value $0.01 per share, of Houston Wire & Cable Company
(“Shares”) at a price of [$____] per Share, pursuant to the HOUSTON WIRE & CABLE COMPANY 2006 STOCK PLAN.
I hereby elect to exercise such Option to the extent of ________________ Shares. Payment in the amount of $__________ equal to
the full purchase price of such Shares is enclosed.

 

	Dated:	 	 	 
	 	 	 	(signature)
	 	 	 	 
	 	 	 	 
	 	 	 	(printed name)
	 	 	 	 
	 	 	 	 
	 	 	 	(address)
	 	 	 	 
	 	 	 	 
	 	 	 	(city, state, zip code)
	 	 	 	 
	 	 	 	 
	 	 	 	(Social Security Number)

 

THIS DOCUMENT IS TO BE USED TO EXERCISE YOUR
STOCK OPTIONS.Exhibit 10.3

 

HOUSTON WIRE & CABLE COMPANY

2006 STOCK PLAN

(As Amended and Restated Effective March 1, 2015)

 

STOCK AWARD AGREEMENT FOR KEY EMPLOYEES

 

A Stock Award (the “Award”)
is hereby granted by Houston Wire & Cable Company, a Delaware corporation (the “Company”), to the Key Employee
named below (the “Grantee”), relating to the Common Stock of the Company:

 

Key Employee:

Date of Award:

Number of Shares Subject to Award:

 

The Award shall be subject
to the following terms and conditions and the provisions of the Houston Wire & Cable Company 2006 Stock Plan, as amended and
restated effective March 1, 2015 (the “Plan”), a copy of which is attached hereto and the terms of which
are hereby incorporated by reference:

 

1.          Grant
of Award. The Company hereby grants to the Grantee a Stock Award for the number of shares of Common Stock described above.

 

2.          Acceptance
by Grantee. The receipt of the Award is conditioned upon its acceptance by the Grantee in the space provided therefor at the
end of this Agreement and the return of an executed copy of this Agreement to the Secretary of the Company no later than _______________.
If the Grantee shall fail to return this executed Agreement by the due date, the Grantee’s Award shall be forfeited to the
Company.

 

3.          Delivery
of Share Certificates. The certificates representing the shares of Common Stock subject to the Award shall be issued in the
Grantee’s name and shall be held by the Secretary of the Company and delivered to the Grantee if and when the shares of Common
Stock vest pursuant to Section 7. At such time, the Secretary of the Company shall deliver promptly to the Grantee the certificate
or certificates evidencing the shares that then become vested. Alternatively, in the discretion of the Committee, delivery of the
Award shares will be by book-entry credit to an account in the Grantee’s name established by the Company with the Company’s
transfer agent; provided that the Company shall, upon written request from the Grantee (or his estate or personal representative,
as the case may be), issue certificates in the name of the Grantee (or his estate or personal representative) representing any
vested Award shares.

 

4.          Dividends.
All dividends and other distributions payable with respect to the unvested Award shall be accrued by the Company and paid to the
Grantee on the vesting date (if any) of the shares of Common Stock with respect to which the dividends have accrued.

 

    	 

    	 

    

 

5.          Section
83(b) Election. The Grantee may make an election pursuant to Section 83(b) of the Internal Revenue Code (“Section 83(b)”)
to recognize income with respect to the Award before it vests by filing an election with the Internal Revenue Service and providing
a copy of that filing to the Secretary of the Company. The Grantee acknowledges that such election, if Recipient chooses to make
it, must be filed within 30 days after the Date of Award set forth above. THE GRANTEE SHOULD CONSULT WITH HIS OR HER TAX ADVISOR
TO DETERMINE THE TAX CONSEQUENCES OF ACQUIRING THE SHARES AND THE ADVANTAGES AND DISADVANTAGES OF FILING THE SECTION 83(b) ELECTION.
THE GRANTEE ACKNOWLEDGES THAT IT IS THE SOLE RESPONSIBILITY OF THE GRANTEE, AND NOT THE COMPANY, TO FILE A TIMELY SECTION 83(b)
ELECTION SHOULD THE GRANTEE, AFTER CONSULTING WITH HIS OR HER TAX ADVISOR, DECIDE TO MAKE ONE.

 

6.          Nontransferability.
Except as set forth in Section 11 of the Plan, none of the shares of Common Stock subject to the Award shall be sold, assigned,
pledged, encumbered or otherwise transferred, voluntarily or involuntarily, until such shares vest in accordance with Section 7.

 

7.          Vesting.

 

(a)          Except
as set forth in (b), (c) and (d) below, the Grantee shall become vested in the Award as follows:

 

(i)          ____%
of the shares subject to the Award shall vest on ___________.

 

(ii)         ____%
of the shares subject to the Award shall vest on ___________.

 

(iii)        ____%
of the shares subject to the Award shall vest on ___________.

 

(b)          In
the event that the Grantee’s employment with the Company and all subsidiaries terminates due to the Grantee’s death
or disability, a prorata number of unvested shares of Common Stock subject to the Award shall vest, such number to be determined
by multiplying the number of unvested shares by a fraction, the numerator of which is the number of full months that have elapsed
from the Date of Award to the termination of employment and the denominator of which is the number of full months in the vesting
period. Award shares that do not vest shall be forfeited. For this purpose “disability” has the meaning, and will be
determined, as set forth in the Company’s long term disability program in which the Grantee participates.

 

(c)          Any
unvested shares of Common Stock subject to the Award shall be forfeited to the Company upon termination of the Grantee’s
employment with the Company and all subsidiaries for any reason other than death or disability as described in Section 7(b) above.
In the event that the Grantee forfeits any or all of the unvested shares, all of the Grantee’s rights, title and interest
with respect to such forfeited shares, including the right to receive any cash dividends accrued with respect thereto, shall automatically
lapse and be of no further force or effect. The Grantee hereby irrevocably designates and appoints the Secretary of the Company
as the Grantee’s agent and attorney in fact, to act for or on behalf of the Grantee and in his or her name and stead, for
the limited purpose of executing any documents and instruments to further evidence the forfeiture of the unvested shares and the
transfer of such shares back to the Company.

 

    	2

    	 

    

 

(d)          The
foregoing provisions of this Section 7 shall be subject to the provisions of any written employment or severance agreement that
has been or may be executed by the Grantee and the Company, and the provisions in such employment or severance agreement concerning
the vesting of an Award shall supersede any inconsistent or contrary provision of this Section 7.

 

8.          Withholding
Taxes. The Grantee shall pay to the Company an amount sufficient to satisfy all minimum Federal, state and local withholding
tax requirements prior to the delivery of any vested shares of Common Stock covered by the Award. Payment of such taxes may be
made by one or more of the following methods: (a) in cash, (b) in cash, received from a broker-dealer to whom the Grantee has submitted
a notice and irrevocable instructions to deliver to the Company proceeds from the sale of a portion of the shares subject to the
Award, (c) by delivery to the Company of other Common Stock owned by the Grantee that is acceptable to the Company, valued at its
then fair market value, and/or (d) by directing the Company to withhold such number of shares of Common Stock otherwise issuable
in connection with the Award with a fair market value equal to the amount of tax to be withheld.

 

9.          Rights
as Stockholder. To the extent the Award has not been forfeited, the Grantee shall be entitled to all of the rights of a stockholder
of the Company with respect to the Award, including the right to vote and to receive dividends and other distributions (subject
to Section 4).

 

10.         Insider
Trading Policy. The sale or transfer of any vested shares of Common Stock subject to the Award is subject to the provisions
of the Company’s Insider Trading Policy, as in effect from time to time.

 

11.         Recoupment.
Notwithstanding any other provision of this Agreement, to the extent required by applicable law, including the Dodd-Frank Wall
Street Reform and Consumer Protection Act, or pursuant to the Company’s Incentive Recoupment Policy or any similar policy
as may be in effect, the Company shall have the right to seek recoupment of all or any portion of an Award (including by forfeiture
of any outstanding Award or by the Grantee’s remittance to the Company of vested Award shares or of a cash payment equal
to the vested Award shares). The value with respect to which such recoupment is sought shall be determined by the Committee. The
Committee shall be entitled, as permitted by applicable law, to deduct the amount of such payment from any amounts the Company
may owe to the Grantee.

 

12.         Employment
Status. This Agreement does not give the Grantee the right to be retained as an employee of the Company.

 

13.         Administration.
The Award shall be administered in accordance with such regulations as the Committee shall from time to time adopt.

 

14.         Plan
Governs. If there is any inconsistency between the terms of this Agreement and the terms of the Plan, the Plan’s terms
shall govern. All capitalized terms shall have the meanings ascribed to them in the Plan, unless specifically set forth otherwise
herein.

 

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15.         Governing
Law. This Agreement, and the Award, shall be construed, administered and governed in all respects under and by the laws of
the State of Delaware.

 

IN WITNESS WHEREOF, this
Agreement is executed by the Company this __th day of ________, _____, effective as of the ___day of ________, _____.

 

	 	HOUSTON WIRE & CABLE COMPANY
	 	 	 
	 	By:	 

 

AGREED AND ACCEPTED:

 

I acknowledge receipt of
the Houston Wire & Cable Company 2006 Stock Plan, as amended and restated effective March 1, 2015 (the “Plan”)
and hereby accept this Stock Award subject to all the terms and conditions thereof. I agree to accept as binding, conclusive and
final all decisions and interpretations of the Committee regarding any questions arising under the Plan or this Stock Award Agreement.

 

GRANTEE

 

	Print Name:	 	 
	 	 	 
	Signature:	 	 
	 	 	 
	Date:	 	 

 

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