Document:

Ex-10.3

 

Exhibit 10.3

BLACK BOX CORPORATION

NON-QUALIFIED STOCK OPTION AGREEMENT

Director-Optionee:                                                                                

Number of shares of

Common Stock subject

to this Option Agreement:                                                                   

Vesting Dates: 1/3 shares every year for the following three years.

Pursuant to the Black Box Corporation 1992 Stock Option Plan (the “Plan”), the
Option Committee of the Board of Directors of Black Box Corporation (the
“Company”) has granted to you Non-Qualified Stock Options (as defined in the
Plan) to purchase the number of shares of the Company’s common stock, $.001 par
value (“Common Stock”) set forth above (the “Option”). Such number of shares
(as such may be adjusted as described in Section 9 below) is herein referred to
as the “Option Shares”. This Option is not an “incentive stock option” as
defined in Section 422 of the Internal Revenue Code of 1986 as amended (the
“Code”), and may not be treated as such for tax purposes by you or the Company.
Additional terms and conditions of this Option are set forth below.

     1. Date of Grant. This Option was granted to you on [date].

     2. Termination of Option. Your right to exercise this Option (and to
purchase the Option Shares) shall expire and terminate in all events on the
earlier of (i) the Expiration Date per the Addendum, or (ii) the date provided
in Section 8 below in the event you cease to be a director of the Company or as
such terms are defined in the Plan (such entities hereinafter referred to as
the “BB Group”).

     3. Option Price. The purchase price to be paid upon the exercise of this
Option or part of it will be $[option price].

     4. Regular Vesting Provisions — Entitlement to Exercise the Option and
Purchase Option Shares. You may not exercise this Option in whole or in part
prior to the first vesting schedule date. On such date and on each of the 2
succeeding anniversaries of that date (each date being referred to as a
“Vesting Date”), you shall become entitled to exercise this Option with respect
to 33 1/3% of the option shares.

     5. Additional Provisions Relating to Exercise.

	(a)	 	Once you become entitled to exercise this Option or any part of it (and
purchase Option Shares) as provided in Section 4 hereof, that right will
continue until the date on which this Option expires and terminates
pursuant to Section 2 hereof.

Strictly Private and Confidential

1

 

	(b)	 	The Board of Directors of the Company (or the Option Committee),
in its sole discretion, may at any time accelerate the time at
which this Option may be exercised by you with respect to all or
any part of the Option Shares, or they may terminate the Plan and
this Option at any time.

     6. Exercise of Option. To exercise the Option, you must deliver a
completed copy of the attached Option Exercise Form to the address indicated on
the Form, specifying the number of Option Shares being purchased as a result of
such exercise, together with payment of the full option price for the Option
Shares being purchased as a result of such exercise. Payment of the Option
Price must be made in cash, by check or by delivery of previously owned stock.
You must also pay any withholding taxes resulting from exercise of the Option
before a stock certificate will be issued to you. Attached to this Option
Agreement is an Option Exercise Form, which is part of this Agreement. You
must deliver the properly completed Option Exercise Form along with the
appropriate amount due in order to exercise this Option.

     7. Transferability of Option. This Option may not be transferred by you
(other than by will or the applicable laws of descent and distribution), and
may be exercised during your lifetime only by you.

     8. Termination of Directorship.

	(a)	 	In the event that you cease to be a director by reason of “disability”
(as described in Section 22(e)(3) of the Code), this Option may only be
exercised within one (1) year after the date you cease to be a director,
and only to the same extent that you were entitled to exercise this Option
on the date you ceased to be a director by reason of such disability, and
had not previously done so.
	 
	(b)	 	In the event you retire (at such age or upon such
conditions as shall be specified by the Board of Directors) or
are dismissed from your position with any member of the BB
Group other than for cause (as described in Article XI of the
Option Plan), this Option may only be exercised within three
(3) months after the date you ceased to be a director, and only
to the same extent that you were entitled to exercise this
Option and did not therefore do so.
	 
	(c)	 	In the event that you die while as a director, or
during the one (1) year period following your disability in (a)
above, or during the three (3) month period following your
retirement or termination other than for cause in (b) above,
this Option may only be exercised within one (1) year from your
date of death by your legal representative or such other person
who acquired your Option or Right by bequest or inheritance or
reason of your death, and only to the same extent you were
entitled to exercise this Option and did not theretofore do so.
	 
	(d)	 	In the event you voluntarily terminate your
position, or are discharged for cause, this Option shall
terminate immediately upon the occurrence of such event unless
otherwise specified by the Committee elsewhere in this Option.

Strictly Private and Confidential

2

 

	(e)	 	Not withstanding any provision contained in this
Section 8 to the contrary, in no event may this Option be
exercised to any extent by you after the Expiration Date. (See
¶ 2(i).)

     9. Adjustments. If the total outstanding shares of Common Stock of the
Company shall be increased or decreased or changed into or exchanged for a
different number or kind of shares of stock or other securities of the Company
or of another corporation through reorganization, merger or consolidation,
recapitalization, stock split, combination or exchange of shares, or
declaration of any dividends payable in stock, the unexercised portion of the
Option Shares covered by this Option may be appropriately adjusted by the Board
of Directors or the Option Committee as to the number or kind of shares (to the
nearest possible full share) and price per share thereof in order to preserve
your proportionate interest in the Company and in order that the aggregate
option price shall remain unchanged.

     10. Continuation of Directorship. Neither the Plan nor this Option shall
confer upon you any right to continue your directorship, or limit in any
respect the right of the BB Group to terminate your directorship at any time.

     11. Plan Documents. This Option Agreement is qualified in its entirety by
reference to the Plan itself, a copy of which is attached hereto, or which may
be obtained from the office of the Chief Executive Officer at any time.

     Please acknowledge your acceptance and agreement to the terms of this Option
Agreement concerning shares issuable under the Plan, by signing the enclosed
copy of this Option Agreement in the space provided below and returning it
promptly to the Company.

	 	 	 	 	 
	 	 	Black Box Corporation
	 
	 	 	 	 
	

	 	By:
	 	

	

	 	 	 	Fred C. Young
	

	 	 	 	Chief Executive Officer

I accept and agree to the terms of the Option as set forth herein.

	 	 	 
	                                                         

	 	                                                         
	Optionee

	 	Date

Strictly Private and Confidential

3Ex-10.4

 

Exhibit 10.4

BLACK BOX CORPORATION

NON-QUALIFIED STOCK OPTION AGREEMENT

Director-Optionee:                                                                                  

Number of shares of

Common Stock (as defined below)

subject to this Option Agreement:                                                         

Vesting Dates (as defined below): one-third (1/3) of the number of Options
Shares (as defined below) shall vest on the first one-year anniversary of the
Grant Date (as defined below) and on each of the two (2) subsequent one-year
anniversaries of the Grant Date.

Pursuant to the Black Box Corporation 1992 Director Stock Option Plan (the
“Plan”), the director stock option committee of the Board of Directors of Black
Box Corporation (the “Company”) has granted to you a Non-Qualified Option (as
defined in the Plan) to purchase the number of shares of the Company’s common
stock, $.001 par value, (“Common Stock”) set forth above (the “Option”). Such
number of shares (as such may be adjusted as described in Section 9 below or
pursuant to the terms of the Plan) is herein referred to as the “Option
Shares.” This Option is not an “incentive stock option” as defined in Section
422 of the Internal Revenue Code of 1986, as amended (the “Code”), and may not
be treated as such for tax purposes by you or the Company. Additional terms
and conditions of this Option are set forth below.

     1. Date of Grant. This Option was granted to you on [month, day, year]
(the “Grant Date”).

     2. Termination of Option. Your right to exercise this Option (and to
purchase the Option Shares) shall expire and terminate in all events on the
earlier of (i) the date which is ten (10) years from the Grant Date (the
“Expiration Date”) or (ii) the date determined in accordance with Section 8
below in the event you cease to be a director of the Company or a subsidiary
corporation or parent corporation of the Company as such terms are defined in
the Plan (such entities hereinafter referred to as the “BB Group”).

     3. Option Price. The purchase price to be paid upon the exercise of this
Option or any part of it will be $[exercise price] per Option Share (the
“Option Price”).

     4. Vesting Provisions — Entitlement to Exercise the Option and Purchase
Option Shares. You may not exercise this Option in whole or in part prior to
the first one-year anniversary of the Grant Date. On such date and on each of
the two (2) succeeding one-year anniversaries of that date (each date being
referred to as a “Vesting Date”), you shall become entitled to exercise this
Option with respect to 33 1/3% of the Option Shares.

Strictly Private and Confidential

1

 

     5. Additional Provisions Relating to Exercise.

	(a)	 	Once you become entitled to exercise this Option or any part of it (and
purchase Option Shares) as provided in Section 4 hereof, that right will
continue until the date on which this Option expires or is terminated
pursuant to Section 2 hereof.
	 
	(c)	 	The Board of Directors of the Company (or the
director stock option committee), in its sole discretion, may
at any time accelerate the time at which the Option may be
exercised by you with respect to all or any part of the Option
Shares, or it may terminate the Plan and the Option at any
time.

     6. Exercise of Option. To exercise the Option, you must deliver a
completed copy of the attached Option Exercise Form (Exhibit A hereto) to the
address indicated on the Form, specifying the number of Option Shares being
purchased as a result of such exercise, together with payment of the full
Option Price for the Option Shares being purchased as a result of such
exercise. Payment of the Option Price must be made in cash, by certified check
or by delivery of that number of shares of previously-owned Common Stock having
a fair market value equal to the exercise price applicable to that portion of
the Option being exercised by the delivery of such shares. You must also pay
any withholding taxes resulting from exercise of the Option before a stock
certificate will be issued to you. You must deliver the properly-completed
Option Exercise Form along with the appropriate payment due in order to
exercise this Option.

     7. Transferability of Option. This Option may not be transferred by you
(other than by will or the applicable laws of descent and distribution), and
may be exercised during your lifetime only by you.

     8. Termination of Directorship.

	(a)	 	In the event that you cease to be a director of any member of the BB
Group by reason of “disability” (as defined in Section 22(e)(3) of the
Code), this Option may only be exercised within one (1) year after the
date you cease to be a director of any member of the BB Group, and only to
the same extent that you were entitled to exercise this Option on the date
you ceased to hold such position by reason of such disability, and did not
theretofore do so.
	 
	(b)	 	In the event you retire (at such age or upon such
conditions as shall be specified by the Board of Directors) or
are dismissed from your position as a director of any member of
the BB Group other than for cause (as defined in Article XI of
the Plan), this Option may only be exercised within three (3)
years after the date you cease to be a director of any member
of the BB Group, and only to the same extent that you were
entitled to exercise this Option on the date you ceased to hold
such position, and did not theretofore do so.
	 
	(c)	 	In the event that you die while holding the
position of director of any member of the BB Group, or during
the one (1) year period following your disability in (a) above,
or during the three (3) year period following your retirement
or termination other than for cause in (b) above, this Option
may only be exercised within one (1) year from your date of
death by your legal

Strictly Private and Confidential

2

 

	 	 	representative or such other person who
acquired the Option by bequest or inheritance or reason of your
death, and only to the same extent you were entitled to
exercise this Option on your date of death, and did not
theretofore do so.
	 
	(d)	 	In the event you voluntarily terminate your
position as a director of any member of the BB Group, or are
discharged for cause (as defined in Article XI of the Plan),
this Option shall terminate immediately upon the occurrence of
such event.
	 
	(e)	 	Notwithstanding any provision contained in this
Section 8 to the contrary, in no event may this Option be
exercised to any extent by you after the Expiration Date.

     9. Adjustments. If the total number of outstanding shares of Common Stock
of the Company shall be increased or decreased or changed into or exchanged for
a different number or kind of shares of stock or other securities of the
Company or of another corporation through reorganization, merger or
consolidation, recapitalization, stock split, combination or exchange of
shares, or declaration of any dividends payable in stock, the unexercised
portion of the Option Shares covered by this Option may be appropriately
adjusted by the Board of
Directors or the director stock option committee as to the number or kind of
shares (to the nearest possible full share) and price per share thereof in
order to preserve your proportionate interest in the Company and in order that
the aggregate option price shall remain unchanged.

     10. Continuation of Directorship. Neither the Plan nor this Option shall
confer upon you any right to continue your directorship, or limit in any
respect the right of any member of the BB Group to terminate your directorship
at any time.

     11. Plan Documents. This Option Agreement is qualified in its entirety by
reference to the Plan itself, a copy of which is attached hereto as Exhibit B,
or which may be obtained from the office of the Chief Executive Officer at any
time.

Please acknowledge your acceptance and agreement to the terms of this Option
Agreement by signing this Option Agreement in the space provided below and
returning it promptly to the Company.

	 	 	 	 	 
	 	 	Black Box Corporation
	 
	 	 	 	 
	

	 	By:
	 	

	

	 	 	 	Fred C. Young
	

	 	 	 	Chief Executive Officer

I accept and agree to the terms of the Option as set forth herein.

	 	 	 
	                                                         

	 	                                                         
	Director-Optionee

	 	Date

Strictly Private and Confidential

3

 

Exhibit A

BLACK BOX CORPORATION

NON-QUALIFIED STOCK OPTION EXERCISE FORM

Steve Macurak Fax:                 
                
                           724-873-6502

Manager, Human Development

Black Box Corporation

1000 Park Drive

Lawrence, PA 15055

Dear Steve:

I hereby exercise the Non-Qualified Option granted to me on                    ,
20                   , under the Black Box Corporation 1992 Director Stock Option Plan, having
an exercise price of $           
        per share, and elect to purchase
                     
shares of
the common stock, par value $.001 per share, (the “Common Stock”) of Black Box
Corporation (the “Company”).

I elect to:

	o	 	 Sell all shares upon exercise (cashless – proceeds net of exercise price and taxes).
	 
	o	 	Sell a portion of the shares (to cover exercise price and taxes).
	 
	o	 	Exercise options, enclosed is my check for $                     to cover exercise price and taxes.
	 
	 	 	The share certificates should be issued to:

	 	 	 
	                                                         

	 	                                                         
	Full Name (print)

	 	Street Address
	 
	 	 
	                                                         

	 	                                                         
	Social Security Number

	 	City, State, Zip
	                                                         

	 	                                                         
	Office

	 	Manager

I acknowledge that I have received and reviewed a copy of the Company’s
Prospectus concerning Common Stock issuable under the Company’s 1992 Director
Stock Option Plan. I have also received and reviewed a copy of the Company’s
Annual Report to Stockholders and the Company’s Proxy Statement for the most
recent fiscal year.

Sincerely,

                                                         

Director - Optionee

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00074-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00074-of-00352.parquet"}]]