Document:

Exhibit
10.2

NON-INCENTIVE
STOCK OPTION AGREEMENT

PURSUANT TO THE

EAGLE BANCORP, INC.

2006 STOCK PLAN

STOCK OPTION for a total of
___________ shares of Common Stock, par value $.01 per share, of Eagle Bancorp,
Inc. (the “Company”), which Option is not intended to qualify as an incentive
stock option under Section 422 of the Internal Revenue Code of 1986, as amended
(the “Code”), is hereby granted to __________ (the “Optionee”) at the price set
forth herein, and in all respects subject to the terms, definitions and
provisions of the 2006 Stock Plan (the “Plan”) which was adopted by the Company
and which is incorporated by reference herein, receipt of which is hereby
acknowledged.

1.             Option Price.         The
Option Price is $______ for each share, being 100%/110% of the Market Value, as
determined in accordance with the provisions of the Plan, of the Common Stock
on the date of grant of this Option.

2.             Exercise of Option. This Option shall be
exercisable in accordance with provisions of the Plan as follows:

	
  (i) Schedule of rights to exercise.

  	
  Percentage of Total Grant

  That May Be Exercised

  
	
   

  	
   

  	
   

  
	
  Upon Grant

  	
   

  	
  %

  
	
   

  	
   

  	
   

  
	
  [Upon first
  anniversary of Grant

  	
   

  	
  %

  
	
   

  	
   

  	
   

  
	
  Upon second
  anniversary of Grant

  	
   

  	
  %

  
	
   

  	
   

  	
   

  
	
  Upon third
  anniversary of Grant

  	
   

  	
  %]

  

 

(ii) Method of Exercise.  This Option shall be exercisable by a written
notice by the Optionee, which shall:

(a)          State the election to exercise the Option, the number of
shares with respect to which it is being exercised, the person in whose name
the stock certificate or certificates for such shares of Common Stock is to be
registered, his or her address and Social Security Number (or if more than one,
the names, addresses and Social Security Numbers of such persons);

(b)         Contain such representations and agreements as to the holder’s
investment intent with respect to such shares of Common Stock as may be
satisfactory to the Committee;

(c)          Be signed by the person or persons entitled to exercise the
Option and, if the Option is being exercised by any person or persons other
than the Optionee, be accompanied by proof, satisfactory to counsel for the
Company, of the right of such person or persons to exercise the Option; and

(d)         Be in writing and delivered in person or by registered or
certified mail to the Treasurer of the Company.

Payment of the purchase price of
any shares with respect to which the Option is being exercised shall be by
cash, Common Stock, or such combination of cash and Common Stock as the
Optionee elects, subject to the provisions of the Plan.  The certificate or certificates for shares of
Common Stock as to which the Option shall be exercised shall be registered in
the name of the person or persons exercising the Option.

(iii) Restrictions on Exercise. 
This Option 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. 
As a condition to the Optionee’s exercise of this Option, the Company
may require the person exercising this Option to make any representation and
warranty to the Company as may be required by any applicable law or regulation.

 

 

(iv) Restriction on Sale of Shares.  Not in limitation of any other restriction
under the Plan or applicable law or regulation, and except as otherwise
provided in the Plan, shares of Common Stock acquired upon exercise of an
Option may not be sold or otherwise disposed of before the end of a six-month
period beginning on the date the Option was granted, as stated below, except
for dispositions by bona fide gifts or transfers by will or the laws of descent
or distribution.

4.             Non-transferability of Option.  This Option may not be sold, pledged,
assigned, hypothecated, transferred or disposed of in any manner other than by
will or by the laws of descent and distribution, pursuant to the terms of a “qualified
domestic relations order” or, in the sole discretion of the Committee, in
connection with a transfer for estate or retirement planning purposes to a
trust established for such purposes.  The
terms of this Option shall be binding upon the executors, administrators,
heirs, successors, and assigns of the Optionee.

5.             Term of Option. This Option may not be exercised
more than _______ years from the date of grant of this Option, as stated below,
and may be exercised during such term only in accordance with the Plan and the
terms of this Option.

	
  

  	
  1998 STOCK OPTION PLAN COMMITTEE

  
	
   

  	
   

  
	
   

  	
  By

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Date of Grant

  	
  Attest: ________________________ (Seal)

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Expiration Date
  (Subject to earlier termination)

  	
   

  	
   

  
						

 

 

NON-INCENTIVE STOCK OPTION EXERCISE FORM

PURSUANT TO THE

EAGLE BANCORP, INC.

STOCK PLAN

	
  

  	
   

  	
   

  
	
   

  	
   

  	
  Date

  
				

 

Treasurer

Eagle Bancorp, Inc.

Re:                               2006 Stock Plan

Dear Sir:

The undersigned elects to
exercise the Non-Incentive Stock Option to purchase                    shares, par value $.01, of Common Stock of
Eagle Bancorp, Inc. under and pursuant to a Stock Option Agreement dated                          , 2006.

Delivered herewith is a certified
or bank cashier’s or teller’s check and/or shares of Common Stock, valued at
the Market Value of the stock on the date of exercise, as set forth below.

	
   

  	
  $

  	
   

  	
   

  	
   

  	
  of cash or check

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Shares of Common Stock, valued at $________ per
  share

  
	
   

  	
  $

  	
   

  	
   

  	
   

  	
  Total

  

 

The name or names to be on the
stock certificate or certificates and the address and Social Security Number of
such person(s) is as follows:

	
  Name

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Address

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Social Security
  No.

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Very truly yours,Exhibit
10.3

RESTRICTED STOCK
AWARD AGREEMENT

EAGLE BANCORP,
INC.

2006 STOCK PLAN

THIS
RESTRICTED STOCK AWARD AGREEMENT (“Agreement”) pursuant to the Eagle Bancorp,
Inc. (the “Company”) 2006 Stock Plan (the “Plan”),
which was adopted by the Company and which is incorporated by reference herein,
receipt of which is hereby acknowledged. Capitalized terms used but not defined
herein have the meaning ascribed to them in the Plan.

Award.  The Company hereby grants to
________________________ (the “Participant”) an award of ________________
shares of the Company’s Common Stock, $.01 par value, subject to the
satisfaction of the Performance Based Award conditions (the “Restrictions”)
contained herein and to the provisions of the Plan.  Until the issuance of shares of Common Stock
following the release of shares upon the satisfaction of the Restrictions, the
shares subject to this Agreement shall be referred to as “Restricted Stock”.

Vesting. Subject to the satisfaction of the Restrictions,
the Restricted Stock shall vest, to the extent the Restrictions have been
satisfied, on January 1, 20__, subject to acceleration or earlier vesting in
whole or in part in accordance with the provisions of the Plan.  In the event of the Death, Disability or
Retirement of Participant, the Restricted Stock shall vest for that number of
shares of Restricted Stock as bears the same relation to the total number of
shares of Restricted Stock as the period of service from the date of grant to
the date of Death, Disability or Retirement bears to the period from the date
of grant to December 31, 20__, in any event subject to the provisions of the
Plan, and subject to the satisfaction of the Restrictions or such portion
thereof as the Committee may in its discretion determine.

Restrictions.  The vesting
of Restricted Stock shall be subject to the satisfaction of the following
Restriction(s):

[insert performance targets]

·      Restricted
Stock may vest only if the Participant has maintained Continuous Service with
the Company or an Affiliate from the date of grant hereof through the date of
vesting, except that in the event of the Death, Disability or Retirement of the
Participant, Restricted Stock may vest only if the Participant has maintained
Continuous Service with the Company or an Affiliate from the date of grant
hereof through the date of Death, Disability or Retirement.

Forfeiture of Restricted Stock.
Any Restricted Stock which is not vested in the Participant or for which the
Restrictions have not been satisfied during the Restriction Period shall be
forfeited, and Participant shall have no right to receive such shares, or to
any payment in cash or shares in lieu thereof, or any alternative consideration
or payment in respect thereof.

Other
Limitations  No shares of Restricted Stock may be issued if the
issuance of Common Stock upon vesting would constitute a violation of any
applicable federal or state securities or other law or valid regulation.  As a condition to the Participant’s receipt
of Restricted Stock, the Company may require the participant or other person
receiving the Restricted Stock to make any representation and warranty to the
Company as may be required by any applicable law or regulation.

Withholding.  The
Participant hereby agrees that the vesting of any Restricted Stock will not be
effective, and no Common Stock will become transferable to the Participant,
until the Participant makes appropriate arrangements with the Company for such
tax withholding as may be required of the Company under federal, state, or
local law on account of such exercise.

Non-transferability.  This
Agreement and the Restricted Stock reflected hereby may not be transferred in
any manner otherwise than by will or the laws of descent or distribution, or
pursuant to a “qualified domestic relations order” (within the meaning of
Section 414(p) of the Code and the regulations and rulings thereunder).  The terms of this Agreement shall be binding
upon the executors, administrators, heirs, successors, and assigns of the Participant.

 

No
Employment Right. Nothing
in this Agreement or the Plan shall be construed as creating any contract of
employment or as conferring on Participant any legal or equitable right to
continue employment or other service with the Company or any Affiliate, or any
level of compensation.

No Shareholder
Rights. Nothing in this
Agreement or in the Plan shall be construed as conferring on Participant any
rights as a shareholder of the Company (including but not limited the right to
vote any shares or receive any cash dividends) with respect to any Restricted
Stock unless and until the Restriction shall have been satisfied.

Issuance of
Shares.  Upon satisfaction of the Restrictions, or, if
later, the final determination by the Company that the Restrictions have, or
have not been satisfied, the Company shall issue to the Participant
certificates reflecting such number of shares of Restricted Stock which have
been vested and earned, subject to such continuing restrictions set forth in
the Plan.

Tax
Consequences.  The Participant acknowledges that the Participant
may have the right, within 30 days of the date of grant, to make an irrevocable
election to include the value of the 
Restricted Stock in income at the time of grant, based on the Market
Value of the Restricted Stock at the date of grant, rather than including only
the value of vested and earned shares at the date of vesting.  The Participant acknowledges that the Company
has not and is not providing any tax advice to Participant and that Participant
shall make his/her own determination with respect to the Section 83 election,
alone or in consultation with his/her own personal tax advisors.

	
  Date:

  	
   

  	
   

  	
  , 20

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  EAGLE BANCORP,
  INC.

  
	
   

  	
   

  	
  BY: THE 2006
  STOCK PLAN COMMITTEE

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  	
   

  
	
  Accepted and
  Agreed:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Participant

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