Document:

Form of Amendments to outstanding employee Stock Option Agreements

 Exhibit (10)(m)(i) 
  
 Potlatch 
 Potlatch Corporation 
 Intra Company Memo 
  

	Date:	 	January 12, 1999 

  

	To:	 	Stock Option Program Participants 

  

	From:	 	Barbara M. Failing 

  

	Subject:	 	Amendments to 1989 and 1995 Stock Incentive Plans 

  
 On December 3, 1998, Potlatch’s Board of Director amended the 1989 and 1995 Stock Incentive Plans to make the following changes: 
  

	1.	 	to extend the post-termination exercise period for stock options from 36 months to the full term of the option when employment terminates due to retirement under the Salaried Employees’
Retirement Plan, disability, or death; 

  

	2.	 	to note the change of the corporate office from San Francisco to Spokane; and 

  

	3.	 	to change the applicable state law governing provision interpretation from California to Delaware. 

  
 The Board authorizes the amendment of your outstanding nonqualified stock options to include these changes. To have the amendments apply to your
outstanding nonqualified stock option(s), you must sign and return the enclosed copy of this memo. If you are a holder of more than one non- qualified stock option, this amendment will apply to all held on December 3, 1998. 
  

 1 of 4 

 Upon signing and returning the copy of this memo, Sections 5, 8 and 15 of your outstanding option agreements will be amended as
follows: 
  
 1995 Stock Incentive Plan Option Agreement 
  
 The following discussion entirely replaces Section 5(a) and (b): 
  
 “(a) If the termination of employment is caused by
Employee’s death, this Option, to the extent that it was exercisable under Paragraph 3 of this Agreement at the date of death and had not previously been exercised, may be exercised at any time before the end of the Option Period as specified
in the Option Agreement by Employee’s executors or administrators or by any person or persons who shall have acquired this Option directly from Employee by bequest or inheritance. 
  
 (b) If the termination of Employee’s employment is caused by Disability or Early, Normal or Late Retirement under
the Potlatch Corporation Salaried Employee’s Retirement Plan, this Option, to the extent it was exercisable under Paragraph 3 of this Agreement at the date of such termination and had not previously been exercised, may be exercised at any time
before the end of the Option Period as specified in the Option Agreement.” 
  
 The following discussion entirely replaces paragraph one of Section 8: 
  
 “Employee, or Employee’s representative, may exercise 20% or more of the portion of this Option that has become vested under Paragraph 3 of this Agreement by giving written notice to the Corporation at Spokane, Washington,
attention of the Vice President, Employee Relations, specifying the election to exercise the Option, the number of Shares for which it is being exercised and the method of payment for the amount of the Purchase Price of the Shares for which this
Option is exercised. Such payment shall be made: 
  
 (a) In
United States dollars delivered at the time of exercise; 
  
 (b) Subject to the conditions stated in rules and regulations adopted by the Committee, by the surrender of Shares in good form for transfer, owned by the person exercising this Option and having an aggregate Fair Market Value on the date
of exercise equal to the Purchase Price; or 
  
 (c) In any
combination of Subparagraphs (a) and (b) above, if the total of the cash paid and the Fair Market Value of the Shares surrendered equals the Purchase Price of the Shares for which this Option is being exercised.” 
  
 The following discussion entirely replaces Section 15: 
  
 “This Agreement shall be interpreted and construed in accordance with the laws of
the State of Delaware without regard to choice of law principles.” 
  

 2 of 4 

 1989 Stock Incentive Plan Option Agreement 
  

The following discussion entirely replaces Section 5(a) and (b): 
  
 “(a) If the termination of employment is caused by Employee’s death, this Option, to the extent that it was exercisable under Paragraph 3
of this Agreement at the date of death and had not previously been exercised or called, may be exercised or called at any time before the end of the Option Period as specified in the Option Agreement by Employee’s executors or administrators or
by any person or persons who shall have acquired this Option directly from Employee by bequest or inheritance. 
  
 (b) If termination of Employee’s employment is caused by Disability or Early, Normal or Late Retirement under the Potlatch Corporation Salaried
Employees’ Retirement Plan, this Option, to the extent it was exercisable under Paragraph 3 of this Agreement at the date of such termination and had not previously been, may be exercised or called at any time before the end of the Option
Period as specified in the Option Agreement.” 
  
 The following
discussion entirely replaces paragraph two of Section 8: 
  
 “Employee,
or Employee’s representative, may exercise this Option by written notice to the Corporation at Spokane, Washington, attention of the Vice President, Employee Relations, specifying the election to exercise the Option, the number of Shares in
respect of which it is being exercised and the method of payment for the amount of the Purchase Price of the Shares as to which this Option is exercised. Such payment shall be made: 
  
 (a) In United States dollars delivered at the time of exercise; 
  
 (b) Subject to the conditions stated in rules and regulations adopted
by the Corporation to govern its stock option program, by the surrender of Shares in good form for transfer, owned by the person exercising this Option and having an aggregate Fair Market Value on the date of exercise equal to the Purchase Price; or

  
 (c) In any combination of Subparagraphs (a) and (b)
above, if the total of the cash so paid and the Fair Market Value of the Shares so surrendered equals the Purchase Price of the Shares with respect to which this Option is being exercised.” 
  
 The following discussion entirely replaces Section 15: 
  
 “This Agreement shall be interpreted and construed in accordance with the laws of
the State of Delaware without regard to choice of law principles.” 
  

 3 of 4 

 If you have any questions regarding the proposed amendment to your nonqualified stock option(s), please call me 
  

			
	POTLATCH CORPORATION
		
	 By
	 	 
	 	 	

	 	 	Barbara M. Failing

  
 I agree to the foregoing amendments to my
nonqualified stock option agreement(s): 
  

					
			
	  	 	 	 	  
	
	 	 	 	

	 Employee
	 	 	 	 Date

  

 4 of 4Form of Amendment to outstanding outside director Stock Option Agreements

 Exhibit (10)(m)(ii) 
  

December 29, 1998 
  
 MEMBERS OF THE 
 BOARD OF DIRECTORS 
 POTLATCH CORPORATION 
  
 On December 3, 1998, the Board authorized the amendment of all outstanding stock option agreements to
reflect two amendments to the 1995 Stock Incentive Plan as follows: 
  
 1. to extend the
post-termination exercise period for stock options from 36 months to the full term of the option when board services terminates due to retirement (after five years of service as a Director) or death; and 
  
 2. to update the location of the Corporation’s office. 
  
 If you wish to have the new rules apply to your outstanding nonqualified options, please sign and
return the enclosed copy of this letter. These amendments will apply to all nonqualified options held by you on December 3, 1998. 
  
 If you agree to these amendments by signing and returning the copy of this letter, Sections 5 and 8 of your outstanding option agreements will be amended to read as follows:

  
 Section 5. The term of this Option shall end and this Option shall not be exercisable
after 10 years from the Date of Grant or, if earlier, upon the termination of Outside Director’s services as a director of the Corporation subject to the following provisions: 
  
 (a) If the termination of services is caused by Outside Director’s death, this Option, to the extent that it was exercisable
under Paragraph 3 of this Agreement at the date of death and had not previously been exercised, may be exercised at any time before the end of the Option Period as specified in the Option Agreement by Outside Director’s executors or
administrators or by any person or persons who shall have acquired this 

  

 1 of 3 

 
Option directly from Outside Director by bequest or inheritance. 
  
 (b) If the termination of services is caused by retirement after five years of service as an Outside Director of the Corporation, this Option, to the extent it was
exercisable under Paragraph 3 of this Agreement at the date of such termination and had not previously been exercised, may be exercised at any time before the end of the Option Period as specified in the Option Agreement. 
  
 (c) If the termination of services is for any reason other than death or retirement,
this Option, to the extent that it was exercisable under Paragraph 3 of this Agreement at the date of such termination and had not previously been exercised, may be exercised within three months after the date of such termination; provided that in
such case the right to call a stock appreciation right as described in Paragraph 4 shall terminate on the date Outside Director’s services terminate unless Outside Director requests and the Committee permits the call of the stock appreciation
right within three months after the date of such termination. Notwithstanding the foregoing, if the termination of services is for cause, the option shall cease to be exercisable or callable at the time of such termination. The Board shall determine
whether Outside Director’s services are terminated for cause in accordance with the Corporation’s Restated Certificate of Incorporation. 
  
 Section 8. Outside Director, or Outside Director’s representative, may exercise this Option by giving written notice to the Corporation at Spokane, Washington, attention of
the Secretary, specifying the election to exercise the Option, the number of Shares for which it is being exercised and the method of payment for the amount of the Purchase Price of the Shares for which this Option is exercised. Such payment shall
be made: 
  
 (a) In United States dollars delivered at the time of
exercise; 
  
 (b) Subject to the conditions stated in rules and regulations
adopted by the Committee, by the surrender of Shares in good form for transfer, owned by the person exercising this Option and having an aggregate 

  

 2 of 3 

 
Fair Market Value on the date of exercise equal to the Purchase Price; or 
  
 (c) In any combination of Subparagraphs (a) and (b) above, if the total of the cash paid and the Fair Market Value of the Shares surrendered equals the Purchase
Price of the Shares for which this Option is being exercised. 
  
 The notice shall be signed
by the person or persons exercising this Option, and in the event this Option is being exercised by the representative of Outside Director, shall be accompanied by proof satisfactory to the Corporation of the right of the representative to exercise
the Option. No Share shall be issued until full payment has been made. After receipt of full payment, the Corporation shall cause to be issued a certificate or certificates for the Shares for which this Option has been exercised, registered in the
name of the person or persons exercising the Option (or in the name of such person or persons and another person as community property or as joint tenants), and cause such certificate or certificates to be delivered to or upon the order of such
person or persons. 
  
 If you have any questions regarding the proposed amendments to your
nonqualified stock options, please let me know. 
  
 Yours very truly, 
  
 Betty R. Fleshman 
 Corporate Secretary 
  
 I agree to the foregoing proposed amendments to my
non-qualified stock option agreements. 
  

					
			
	  	 	 	 	  
	
	 	 	 	

	Signature	 	 	 	Date

  

 3 of 3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00062-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00062-of-00352.parquet"}]]