Document:

EX-10.13

 Exhibit 10.13 

COUNTY BANCORP, INC. 
 (a
Wisconsin corporation) 
 MANAGEMENT INCENTIVE PLAN 

STOCK OPTION AGREEMENT 
  

			
		
	Participant:	  	  

		
	Participant’s Address:	  	  

		
	Date of Grant:	  	  

		
	Number of Shares Optioned:	  	  

		
	Option Price per Share:	  	  

		
	Option Expiration Date:	  	  

		
	Type of Option:	  	  ̈      Nonqualified
Stock Option (“NQO”)
  
  ̈      Incentive Stock Option (“ISO”)

 This STOCK OPTION AGREEMENT (the “Agreement”) is made and entered into, as of the Date of
Agreement set forth above, by and between County Bancorp, Inc., a Wisconsin corporation (“Company”) and the Participant named above: 

PREMISES 
 WHEREAS,
the Company has adopted the County Bancorp, Inc. Management Incentive Plan (the “Plan”) under which the Committee (as defined in the Plan) may, among other things, grant options to key officers and employees of the Company and its
subsidiaries to purchase shares of the Company’s common stock, par value $.01 per share (“Stock”), subject to terms, conditions, and restrictions as in its discretion it shall deem appropriate; and 

WHEREAS, the Participant is a key officer and employee of the Company or a Subsidiary and the Option is granted as an incentive to
continue Participant’s services and to increase Participant’s proprietary interest in the Company; and 
 WHEREAS, pursuant
to the Plan, the Committee has made a grant to the Participant to purchase shares of the authorized but unissued Stock of the Company conditioned upon the due execution of this Agreement. 

 AGREEMENT 

NOW, THEREFORE, in consideration of the premises and of the covenants and agreements herein set forth, the parties hereby mutually
covenant and agree as follows: 
 1. Option Grant. The Company, in consideration of the continued employment of the Participant for
the periods herein defined, grants to the Participant an Option, pursuant to the Plan, to purchase the number of shares of Stock of the Company, par value of $0.01 per share, set forth in the table on page 1 as the Number of Shares
Optioned, at the Exercise Price Per Share set forth in the table on page 1, and otherwise upon the terms and conditions set forth herein. 

2. Duration and Exercise of Option. This Option expires on the Option Expiration Date set forth above or prior thereto in the
event of death or termination of employment of the Participant, as provided herein. The exercise of this Option is contingent upon receipt by the Company of the full purchase price of such shares, During the period between the date of the grant of
this Option and the end of the tenth year after the date of the granting of this Option, this Option may be exercised with respect to not more than the percentage of the total number of Option Shares as set forth in the following schedule:

  

			
	 Years After Grant of Option
	 	 Percentage of Total Shares

Subject to Option

	three (3)	 	fifty percent (50%)
	four (4)	 	one hundred percent (100%)

 3. Certain Restrictions. The Option granted hereby may be exercised only with respect to whole shares
of stock. The minimum number of Optioned Shares which may be purchased at one time shall be lesser of 100 Optioned Shares or ten percent (10%) of the aggregate number of Option Shares granted hereunder. Nothing herein contained shall be
construed to extend the ultimate term of this Option beyond the period of ten (10) years from the date of the grant of this Option. 

4. Manner of Exercise. The Option may be exercised only by written notice, delivered or mailed by postpaid, registered or certified
mail, addressed to the secretary of the Company specifying the number of Optioned Shares being purchased. Such notice shall be accompanied by (i) payment in cash or its equivalent of the entire Exercise Price of the Optioned Shares being
purchased; (ii) only with the prior written consent of the Committee, by tendering previously acquired shares of Stock having a Fair Market Value (determined by the Committee in conformity with the requirements of the Plan) at the time of
exercise equal to the entire purchase price of the Optioned Shares being purchased; or (iii) any combination of the foregoing. The Committee may then require that there be presented to and filed with it such evidence as it may deem sufficient
to establish that the Participant is bona fide resident of the State of Wisconsin on the date of exercise, and that the shares to be purchased are being acquired for investment and not with a view to their distribution. The Committee, in its
discretion, may provide through any subsidiary bank of the Company to make a loan to the Participant to finance the exercise of any Option as well as the estimated or actual amount of taxes that may be payable. The loan shall be evidenced by a
promissory note for a term of one year and shall be secured or unsecured as may be determined. 

  
 2 

 Shares of Stock tendered shall be duly endorsed or accompanied by stock powers duly endorsed in
blank. Upon receipt of the payment of the entire purchase price of the Optioned Shares, certificates for such shares shall be issued to the Participant. The Optioned Shares so purchased shall be fully paid and nonassessable. 

5. Withholding Taxes. The Participant by this Option Agreement hereby authorizes the Company or any subsidiary bank to (i) retain
and withhold from any cash amounts due or to become due from the Company to the Participant an amount equal to such taxes as may be required by any taxing authority to be withheld, or (ii) to retain and withhold the number of shares having a
market value not less than the amount of such taxes and cancel any such shares so withheld, in order to reimburse the Company or any subsidiary bank, unless the Participant has made arrangements satisfactory to the Committee, regarding such payment.

 6. Issuance of Shares. Promptly after receipt of such notice and payment (as set forth in Section 4, above) and of such
evidence of Wisconsin residency and intent to acquire for investment as may be required by the Committee, the Company shall deliver a certificate to the Participant hereunder for the number of shares with respect to which the Option shall have been
so exercised. All stock purchased under this Option by the Participant during his lifetime shall be issued in the name of and delivered to the Participant for whose account it was purchased. 

7. Transfer. Except as specifically provided in Section 8(h) of the Plan, the Options herein granted shall not be transferable by
the Participant otherwise than by will or the laws of descent and distribution and may be exercised during the life of the Participant only by the Participant, or his guardian or his legal representative. No assignment or transfer by the Participant
of his Option, or of the rights represented hereby, whether voluntary or involuntary, by operation of law or otherwise, except by will or the laws of descent and distribution, shall vest in the assignee or transferee any interest or right herein
whatsoever. 
 8. Not an Employment Contract. Nothing in this Agreement shall confer on the Participant any right to continue in the
employ of the Company or any of its subsidiary banks in any way affect the Company’s right to terminate the Participant’s employment without prior notice at any time for any or no reason. 

9. Corporate Rights Unaffected. Subject to Section 5(c) of the Plan, the existence of this Option herein granted shall not affect
in any way the right or power of the Company or its shareholders to make or authorize any or all adjustments, recapitalizations, reorganizations or other merger or consolidation of the Company, or any issue of bonds, debentures, preferred or prior
preference stocks or otherwise affecting the Stock or the rights thereof, or the dissolution or liquidation of the Company, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a
similar character or otherwise. 
 10. Revision of Shares. The shares with respect to which this Option is granted are shares of the
stock, par value $0.01 per share, of the Company as constituted on the date of this Option. The Committee shall make appropriate adjustment in the Exercise Price Per Share and 

  
 3 

 
the number of Optioned Shares set forth in the table on page 1 if there is any change in the Stock of the Company as a result of any stock dividend, stock split, recapitalization, or any merger,
consolidation or otherwise. The Committee shall also make appropriate adjustments in the Exercise Price Per Share and the number of Optioned Shares set forth in the table on page 1 if any Stock should be sold by the Company (except pursuant to the
Plan or any other qualified or nonqualified stock option plan) at a price less than the Fair Market Value of such Stock at the time of such sale. 

11. Merger or Consolidation. After a merger of one or more corporations into the Company, the Participant shall, at no additional cost
and subject to any required action by the shareholders, be entitled upon any exercise of an option granted under this Agreement to receive, in lieu of the number of shares of Stock as to which such option is so exercised, the number and class of
shares of stock or other securities to which the Participant would have been entitled pursuant to the terms of the agreement of merger if, immediately prior to such merger, the Participant had been the holder of record of the number of shares of
Stock as to which such option is so exercised. 
 12. Investment Representation. The Participant, by acceptance of this Option,
represents that he is a bona fide resident of the State of Wisconsin and that he presently intends that any stock purchased by him upon exercise of the Option granted under the Plan shall be purchased for investment with no intention of resale at
that time. Participant undertakes to furnish a similar representation in writing at the time of exercise if so requested by the Company. This Section shall not be enforced if the shares reserved for grant hereunder shall have been duly registered
under the applicable federal and state securities laws. The Participant agrees for himself and his heirs, legatees, and legal representatives, with respect to all shares of Stock acquired pursuant to the terms and conditions of this Option Agreement
(or any shares of Stock issued pursuant to a stock dividend or stock split thereon or any securities issued in lieu thereof or in substitution or exchange therefor) that he and his heirs, legatees and legal representatives will not sell or otherwise
dispose of such shares except pursuant to an effective Registration Statement under the Securities Act of 1933 or except in a transaction which in the opinion of counsel for the Company, is exempt from registration under such Act. 

13. The Plan; Receipt of Copy. This Agreement shall be subject to the terms of the Plan as may be amended, except this Agreement may
not, in any way, be restricted or limited by any Plan amendment or termination approved after the grant date, without the Participant’s written consent. The Participant acknowledges receipt of a copy of the Plan. 

14. Choice of Law. This Agreement shall be construed and enforced in accordance with and shall be governed by the laws of the State of
Wisconsin. 
 15. Entire Understanding. This Agreement contains the entire understanding of the parties and shall not be modified or
amended except in writing and duly signed by the parties. No waiver by either party of any default under this Agreement shall be deemed a waiver of any later default. 

16. Meaning of “Participant.” Whenever the word “Participant” is used herein it shall include in addition to the
named Participant, his executors, administrators, personal representatives, or the person or persons to whom this Option may be transferred by will or by the laws of descent and distribution, to the extent provided hereby. 

  
 4 

 17. Participant Not a Shareholder. The Participant shall not be deemed for any purpose to
be a shareholder of the Company with respect to any of the Optioned Shares except to the extent that this Option shall have been exercised with respect thereto and a stock certificate issued therefor. No adjustment shall be made for any dividends or
other rights for which the record date is prior to the date such stock certificate is issued. 
 18. Violation of Law. Anything
herein contained to the contrary notwithstanding, the Company shall not be obligated to issue any shares hereunder if the exercise of this Option or the issuance of such shares shall constitute a violation by the Participant or by the Company of any
provisions of any law or of any regulation of any governmental authority. Any determination made by the Committee under this Section 14 shall be final, binding and conclusive. 

19. Controversy; Interpretation. Any controversy which shall arise under or as a result of or pursuant to this Option shall be
determined by the Committee in its sole discretion and any interpretation by the Committee of the terms of this Option shall be final, binding and conclusive, unless otherwise determined by the Board of Directors of the Company. 

20. Notices. Every notice hereunder shall be in writing delivered personally or by mail, postage prepaid, addressed as follows: 

 

			
	If to the Company:	  	 934 North 23rd Street
  

Manitowoc, Wisconsin 53420
  

Attention: Management Incentive Plan Administrative Committee with a copy to the attention of the Secretary;

 
 or at such other address as the Company, by notice, may designate in writing from time
to time.

		
	If to the Participant, or his or her personal representatives, heirs or legatees:	  	 The Participant’s Address shown above; 
  

or at such other address as the Participant, his personal representatives, heirs or legatees by notice to the Company, may designate in writing from time to
time.

 IN WITNESS WHEREOF, the Company has caused this Option to be signed and countersigned by its duly
authorized officers as of the Date of Grant set forth in the table on page 1. 
  

			
		 	COUNTY BANCORP, INC.
		
	By:	 	  

		 	William C. Censky, President
		
	Attest:	 	  

		 	Michael F. Check, Secretary

  
 5 

 Accepted in accordance with, and subject to, the above terms and conditions as of the Date of
Grant set forth in the table on page 1. 
  

	
	  

	
	                                  
                            , Participant

  
 6Exhibit 10.1

 

American Science & Engineering, Inc.

2014 Equity and Incentive Plan

 

Non-Employee Director Restricted Stock Award Agreement

 

American Science & Engineering, Inc.

829 Middlesex Turnpike

Billerica, MA 01821

 

Ladies and Gentlemen:

 

The undersigned (i) acknowledges that he/she has received an award (the “Award”) of restricted stock from American Science & Engineering, Inc. (the “Company”) under the 2014 Equity and Incentive Plan (as amended from time to time, the “Plan”) as a non-employee Director of the Company, subject to the terms set forth below and in the Plan; (ii) further acknowledges receipt of a copy of the Plan as in effect on the date hereof; and (iii) agrees with the Company as follows:

 

1.              Effective Date.  This Agreement shall take effect as of                             , which is the date of grant of the Award.

 

2.              Shares Subject to Award.  The Award consists of            shares (the “Shares”) of common stock of the Company (“Stock”).  The undersigned’s rights to the Shares are subject to the restrictions described in this Agreement and the Plan (which is incorporated herein by reference with the same effect as if set forth herein in full) in addition to such other restrictions, if any, as may be imposed by law.

 

3.              Meaning of Certain Terms.  Except as otherwise expressly provided, all terms used herein shall have the same meaning as in the Plan.  The term “vest” as used herein with respect to any Share means the lapsing of the forfeiture provisions set forth in Paragraph 5 below with respect to such Share.

 

4.              Nontransferability of Shares.  The Shares acquired by the undersigned pursuant to this Agreement shall not be sold, transferred, pledged, assigned or otherwise encumbered or disposed of, except as provided below and in the Plan.

 

5.              Forfeiture Risk.  If the undersigned ceases to be a Director of the Company for any reason, excluding death (provided for in Paragraph 11 below), any then outstanding and unvested Shares acquired by the undersigned hereunder shall be automatically and immediately forfeited by the undersigned to the Company and available for reissue under the Plan.  The undersigned hereby (i) appoints the Company as the attorney-in-fact of the undersigned to take such actions as may be necessary or appropriate to effectuate a transfer of the record ownership of any such Shares that are unvested and forfeited hereunder, (ii) agrees to deliver to the Company, as a precondition to the issuance of any certificate or certificates with respect to unvested Shares hereunder, one or more

 

 

stock powers, endorsed in blank, with respect to such Shares, and (iii) agrees to sign such other powers and take such other actions as the Company may reasonably request to accomplish the transfer or forfeiture of any unvested Shares that are forfeited hereunder.

 

6.              Retention of Certificates.  Any certificates representing unvested Shares shall be held by the Company.  If unvested Shares are held in book entry form, the undersigned agrees that the Company may give stop transfer instructions to the depository to ensure compliance with the provisions hereof.

 

7.              Vesting of Shares; Change in Control.  The Shares acquired hereunder shall vest in twelve (12) equal amounts on each of the first twelve (12) monthly anniversaries of                                (the “Vesting Start Date”).  Notwithstanding the foregoing, no Shares shall vest on any vesting date specified above unless the undersigned is then, and since the date of grant has continuously been, a Director of the Company.  Notwithstanding the foregoing, if a Change in Control of the Company occurs, then 100% of the Shares shall become vested immediately upon such Change in Control.  The term “Change in Control” means the occurrence hereafter of any of the following:

 

(i)                                     Any Person, as such term is used in Sections 13(d) and 14(d) of the Act, other than the Company or a Subsidiary, becomes a beneficial owner (within the meaning of Rule 13d-3, as amended, as promulgated under the Exchange Act), directly or indirectly, in one or a series of transactions, of securities representing more than fifty percent (50%) of the combined voting power of the Company’s then outstanding securities;

 

(ii)                                  The consummation of a merger or consolidation of the Company with any other Person, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than fifty percent (50%) of the combined voting power of the voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation;

 

(iii)                               The closing of a sale or other disposition by the Company of all or substantially all of the assets of the Company;

 

(iv)                              Individuals who constitute the Board of Directors on the date hereof (“Incumbent Directors”) cease for any reason to constitute at least a majority of the board; provided, that any individual who becomes a member of the Board subsequent to the date hereof, whose election or nomination for election was approved by a vote of at least two-thirds of the Incumbent Directors shall be treated as an Incumbent Director unless he or she assumed office as a result of an actual or threatened election contest with respect to the election or removal of directors; or

 

(v)                                 A complete liquidation or dissolution of the Company.

 

8.              Legend.  Any certificates representing unvested Shares shall contain a legend substantially in the following form:

 

 

THE TRANSFERABILITY OF THIS CERTIFICATE AND THE SHARES OF STOCK REPRESENTED HEREBY ARE SUBJECT TO THE TERMS AND CONDITIONS (INCLUDING FORFEITURE) OF THE 2014 EQUITY AND INCENTIVE PLAN OF AMERICAN SCIENCE AND ENGINEERING, INC. AND A RESTRICTED STOCK AWARD AGREEMENT ENTERED INTO BETWEEN THE REGISTERED OWNER AND AMERICAN SCIENCE AND ENGINEERING, INC.  COPIES OF SUCH PLAN AND AGREEMENT ARE ON FILE IN THE OFFICES OF AMERICAN SCIENCE & ENGINEERING, INC.

 

Following the vesting of any such Shares the Company shall, by its own action or upon the written request of the undersigned, cause a certificate or certificates covering such Shares, without the aforesaid legend, to be issued and delivered to the undersigned.  If any Shares are held in book-entry form, the Company may take such steps as it deems necessary or appropriate to record and manifest the restrictions applicable to such Shares.

 

9.              Dividends, etc.  The undersigned shall be entitled to (i) receive any and all dividends or other distributions paid with respect to those Shares of which he is the record owner on the record date for such dividend or other distribution, and (ii) vote any Shares of which he is the record owner on the record date for such vote; provided, however, that any property (other than cash) distributed with respect to a share of Stock (the “associated share”) acquired hereunder, including without limitation a distribution of Stock by reason of a stock dividend, stock split or otherwise, or a distribution of other securities with respect to an associated share, shall be subject to the restrictions of this Agreement in the same manner and for so long as the associated share remains subject to such restrictions, and shall be promptly forfeited if and when the associated share is so forfeited; and further provided, that the Compensation Committee may require that any cash distribution with respect to the Shares other than a normal cash dividend be placed in escrow or otherwise made subject to such restrictions as the Compensation Committee deems appropriate to carry out the intent of the Plan.  References in this Agreement to the Shares shall refer, mutatis mutandis, to any such restricted amounts.

 

10.       Sale of Vested Shares.  The undersigned shall be entitled to sell, transfer, pledge, assign or otherwise encumber or dispose of any Share once it has vested, subject to (i) satisfaction of any applicable tax withholding requirements with respect to the vesting or transfer of such Share; (ii) the completion of any administrative steps (for example, but without limitation, the transfer of certificates) that the Company may reasonably impose; and (iii) applicable requirements of federal and state securities laws.

 

11.       Vesting Upon Death.  If the Director is terminated by reason of his or her death, then 100% of the Shares shall become vested in full, and the restrictions lifted.  In such event, the restrictions will be lifted from the Shares, and the Shares shall be freely transferable to the person(s) to whom the Director’s share rights pass by will or by the applicable laws of descent and distribution.

 

12.       Section 83(b).  The undersigned expressly acknowledges that he or she has been advised to confer promptly with a professional tax advisor to consider whether the undersigned should make a so-called “83(b) election” with respect to the Shares.  Any such election, to be effective, must be made in accordance with applicable regulations and within thirty (30) days following the date of this

 

 

Award.  The Company has made no recommendation to the undersigned with respect to the advisability of making such an election and makes no representations or warranties to the undersigned regarding the tax consequences of the undersigned’s receipt of the Shares or their vesting or sale.

 

13.       Waivers and Amendments.  The Compensation Committee, in its sole discretion, shall have the right at any time immediately to waive all or any part of the restrictions, conditions and other provisions of this Agreement or the Plan with regard to all or any part of the Shares held by the undersigned.

 

14.       Governing Law.  This Agreement shall be governed by and construed under the laws of the Commonwealth of Massachusetts (without giving effect to any conflicts or choice of law provisions thereof that would cause the application of the domestic substantive laws of any other jurisdiction).

 

15.       Successors and Assigns.  Except as otherwise expressly provided herein, the provisions hereof shall inure to the benefit of, and be binding upon, the successors, assigns, heirs, executors and administrators of the parties hereto.

 

16.       Headings.  Descriptive headings are for convenience only and shall not control or affect the meaning or construction of any provision of this Agreement.

 

17.       Entire Agreement.  This Agreement, in conjunction with the Plan, constitutes the full and entire understanding and agreement between the parties with regard to the subject hereof and supersedes all prior agreements and understandings, whether oral or written, with respect thereto.

 

18.       Severability.  In case any provisions of this Agreement shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions of this Agreement shall not in any way be affected or impaired thereby, and each provision of this Agreement shall be enforced to the fullest extent permitted by law.

 

19.       Counterparts.  This Agreement may be executed in any number of counterparts, each of which shall be deemed an original, but all of which together will constitute one and the same instrument.  For all purposes, signatures delivered and exchanged by facsimile or electronic transmission shall be binding and effective to the same extent as original signatures.

 

 

	
The   foregoing Restricted Stock
    	
 
    
	
Award   Agreement is hereby accepted:
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
Name:
    	
 
    	
 
    
	
Title:
    	
Director
    	
 
    

 

 

	
AMERICAN   SCIENCE AND ENGINEERING, INC.
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
By:
    	
 
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00237-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00237-of-00352.parquet"}]]