Document:

Form of Option Agreement between the Company & the Chairman & Executive Officers

 Exhibit 10.1 
 CASUAL MALE RETAIL GROUP, INC. 
  
 1992 STOCK INCENTIVE PLAN, AS AMENDED 
 Non-Qualified Stock Option Grant Agreement 
  
 THIS AGREEMENT, made as of this
          day of             , 20    , between Casual Male Retail Group, Inc., a Delaware corporation
(the “Company”), and                      (the “Participant”). 
  
 WHEREAS, the Company has adopted and maintains the Casual Male Retail Group,
Inc. 1992 Stock Incentive Plan, as amended (the “Plan”), to encourage and enable the officers, employees and directors of the Company and its subsidiaries, and other persons who are responsible for or contribute to the management, growth
or profitability of, or who provide substantial services to, the Company and its subsidiaries, upon whose judgment, initiative and efforts the Company largely depends for the successful conduct of its business to acquire a proprietary interest in
the Company, thereby assuring a closer identification of such persons’ interests with those of the Company, stimulating their efforts on the Company's behalf and strengthening their desire to remain with the Company; 
  
 WHEREAS, the Plan provides that a committee of the Board of Directors of the
Company (the “Committee”) shall administer the Plan and shall determine the individuals to whom stock options shall be granted and the amount and type of such stock options; and 
  
 WHEREAS, the Committee has determined that the purposes of the Plan would be furthered by granting the Participant a stock
option under the Plan as set forth in this Agreement; 
  
 NOW,
THEREFORE, in consideration of the premises and the mutual covenants hereinafter set forth, the parties hereto hereby agree as follows: 
  
 1. Grant of Option. Pursuant to, and subject to, the terms and conditions set forth herein and in the Plan, the Company hereby grants to the
Participant a stock option (the “Option”) with respect to              shares of common stock of the Company (“Company Stock”). The Option does not constitute an
“incentive stock option” within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended. 
  
 2. Grant Date. The Grant Date of the Option is             . 
  
 3. Incorporation of Plan. All terms, conditions and restrictions of
the Plan are incorporated herein and made part hereof as if stated herein. If there is any conflict between the terms and conditions of the Plan and this Agreement, the terms and conditions of the Plan, as interpreted by the Committee, shall govern.
Except as otherwise provided herein, all capitalized terms used herein shall have the meaning given to such terms in the Plan. 
  
 4. Exercisability. 
  
 (a) Subject to Section 4(b) below, the Option shall first be exercisable with respect to a number of whole shares as close as possible to the following
portion of the total number of shares subject hereto on the following dates: 

					
	 Number of Years
 After Date of Grant

	 	 Percentage of Shares
 Becoming Available
 For Exercise

	 	 Cumulative
 Percentage
 Available

	Less than 1 year	 	0%	 	0
	1-2 years	 	33 1/3%	 	33 1/3%
	2-3 years	 	33 1/3%	 	66 2/3%
	3 or more years	 	33 1/3%	 	100%

  
 (b) In the event of a
Change of Control, the Option shall be fully exercisable as of the effective date of the Change of Control. 
  
 5. Exercise Price. The exercise price-per-share of each share with respect to which the Option is granted is
$                 (the “Exercise Price”), the Fair Market Value of a share of Company Stock as of the Grant Date. 
  
 6. Expiration Date. Subject to the provisions of the Plan and this
Agreement, the Option shall expire and terminate on the tenth anniversary of the Grant Date. 
  
 7. Termination. If the Participant ceases his/her employment with the Company, this Option shall become fully vested and exerciseable, subject to the following limitation. If the Participant ceases his/her
employment for any reason other than Cause (as defined in the Plan), the Participant will have 90 days from the date the Participant ceases his/her employment in which to exercise this Option, or until the Expiration Date, if earlier. If the
Participant ceases his/her employment for Cause, any Option held by the Participant will terminate immediately and be of no further force and effect. If the Participant ceases his/her employment because of death or disability (or otherwise has an
Option outstanding at the time of his or her death), the Option may be exercised by the Participant’s legal representative or legatee for a period of one (1) year from the date of death/disability or until the Expiration Date, if earlier.

  
 8. Method of Exercise. The Participant may exercise
this Option, in whole or in part, only by a cashless exercise (in which, upon exercise, the Participant forfeits a number of shares of Company Stock underlying this Option having an aggregate Fair Market Value equal to the aggregate Exercise Price
of the portion of the Option being exercised) by surrender of this Option at the principal office of the Company, together with a written notice of his or her election to purchase some or all of the vested shares of Company Stock purchasable at the
time of such notice, in which event the Company shall issue to the Participant a number of shares of Company Stock computed using the following formula: 
  

					
	 	  	X =	  	 Y – [(A*Y)/B]

			
	 Where        
	  	X =	  	 the number of shares of Company Stock to be issued to the Participant.

			
	 	  	Y =	  	 the number of shares of Company Stock purchasable upon exercise of all of the Option or, if only a portion of the Option is being
exercised, the portion of the Option being exercised.

			
	 	  	A =	  	 the Exercise Price.

			
	 	  	B =	  	 the per share Fair Market Value of one share of Company Stock.

  

 - 2 - 

 Certificates for shares of Company Stock purchased upon the exercise of the Option shall be issued in the name of the
Participant or his beneficiary, as the case may be, and delivered to the Participant or his beneficiary as soon as practicable following the effective date on which the Option is exercised. 
  
 9. Tax Withholding. The Participant is obligated to remit to the
Company, or make arrangements satisfactory to the Committee, an amount sufficient in the determination of the Company to satisfy any federal, state or local tax withholding and other taxes due or potentially payable in connection with the exercise
of the Option. To the extent permitted by the Committee in its sole discretion, the Participant may satisfy this obligation by (i) directing the Company to withhold from the shares of Company Stock to be issued to the Participant upon the exercise
of the Option a number of whole shares of Company Stock or (ii) transferring to the Company a number of whole shares of Company Stock owned by the Participant, in either case having a Fair Market Value (determined as of the date on which the amount
of required tax withholding is determined) as close as possible to the minimum amount of such obligation, with any additional amount to be paid by the Participant in cash. 
  
 10. Securities Matters. 
  
 (a) The Company shall be under no obligation to effect the registration pursuant to the Securities Act of 1933, as amended (the “1933 Act”) of
any interests in the Plan or any shares of Company Stock to be issued thereunder or to effect similar compliance under any state laws. The Company shall not be obligated to cause to be issued or delivered any certificates evidencing shares of
Company Stock pursuant hereto unless and until the Company is advised by its counsel that the issuance and delivery of such certificates is in compliance with all applicable laws, regulations of governmental authority and the requirements of any
securities exchange on which shares of Company Stock are traded. The Committee may require, as a condition of the issuance and delivery of certificates evidencing shares of Company Stock pursuant to the terms hereof, that the recipient of such
shares make such covenants, agreements and representations, and that such certificates bear such legends, as the Committee, in its sole discretion, deems necessary or desirable. The Participant specifically understands and agrees that the shares of
Company Stock, if and when issued upon exercise of the Option, may be “restricted securities,” as that term is defined in Rule 144 under the 1933 Act and, accordingly, the Participant may be required to hold the shares indefinitely unless
they are registered under such Act or an exemption from such registration is available. 
  
 (b) The exercise of the Option shall be effective only at such time as counsel to the Company shall have determined that the issuance and delivery of shares of Company Stock pursuant to such exercise is in compliance
with all applicable laws, regulations of governmental authority and the requirements of any securities exchange on which shares of Company Stock are traded. The Committee may, in its sole discretion, defer the effectiveness of any exercise of the
Option in order to allow the issuance of shares of Company Stock pursuant thereto to be made pursuant to registration or an exemption from registration or other methods for compliance available under federal or state securities laws. The Committee
shall inform the Participant in writing of its decision to defer the effectiveness of the exercise of the Option. During the period that the effectiveness of the exercise of the Option has been deferred, the Participant may, by written notice,
withdraw such exercise and obtain the refund of any amount paid with respect thereto. 
  
 11. Non-transferability of Option. This Option shall not be transferable by the Participant otherwise than by will or by the laws of descent and distribution and this Option shall be exercisable, during the
Participant's lifetime, only by the Participant. Notwithstanding the foregoing, the Committee may permit the Participant to transfer, in whole or in part, without consideration for the transfer, this Option to members of the Participant's immediate
family, to any corporation, partnership, 

  

 – 3 – 

 
limited liability company trust or other similar entity of which the Participant and/or any members of the Participant's family are the principal
stockholders, partners, members, equity owners or beneficiaries; provided, however, that the transferee agrees in writing with the Company to be bound by all terms and conditions of the Plan and this Option. 
  
 12. Delays or Omissions. No delay or omission to exercise any right,
power or remedy accruing to any party hereto upon any breach or default of any party under this Agreement, shall impair any such right, power or remedy of such party, nor shall it be construed to be a waiver of any such breach or default, or an
acquiescence therein, or of or in any similar breach or default thereafter occurring, nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring. Any waiver, permit,
consent or approval of any kind or character on the part of any party of any breach or default under this Agreement, or any waiver on the part of any party or any provisions or conditions of this Agreement, must be in a writing signed by such party
and shall be effective only to the extent specifically set forth in such writing. 
  
 13. Integration. This Agreement contains the entire understanding of the parties with respect to its subject matter. There are no restrictions, agreements, promises, representations, warranties, covenants or
undertakings with respect to the subject matter hereof other than those expressly set forth herein. This Agreement, including, without limitation, the Plan, supersedes all prior agreements and understandings between the parties with respect to its
subject matter. 
  
 14. Counterparts. This Agreement may be
executed in two or more counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same instrument. 
  
 15. Governing Law. This Agreement shall be governed by and construed and enforced in accordance with the laws of the Commonwealth of Massachusetts,
without regard to the provisions governing conflict of laws. 
  
 16. Participant Acknowledgment. The Participant hereby acknowledges receipt of a copy of the Plan. The Participant hereby acknowledges that all decisions, determinations and interpretations of the Committee in respect of the Plan,
this Agreement and the Option shall be final and conclusive. 
  
 IN WITNESS WHEREOF, the Company has caused this Agreement to be duly executed by its duly authorized officer, and the Participant has hereunto signed this Agreement on his own behalf, thereby representing that he has carefully read and
understands this Agreement and the Plan as of the day and year first written above. 
  

			
	 CASUAL MALE RETAIL GROUP, INC.

		
	 By:
	 	 /s/ David A. Levin

	 Name:
	 	 David A. Levin

	 Title:
	 	 President, CEO

  
 Receipt of the
foregoing Option is acknowledged and its terms and conditions are hereby agreed to: 
  

							
	 Date:
	 	  

	  	 	  	  

				
	 	 	 	  	Address:	  	  

	 	 	 	  	 	  	  

  

 - 4 -Form of Option Agreement between the Company & Non-Employee Directors

 Exhibit 10.2 
 CASUAL MALE RETAIL GROUP, INC. 
 1992 STOCK INCENTIVE PLAN, AS AMENDED 
  
 NON-QUALIFIED STOCK OPTION AGREEMENT 
 (For Non-Employee Directors) 
  

			
	 ______________________
         NO. OF SHARES
	 	 ______________________
 DATE OF GRANT        

  
 Pursuant to the Casual
Male Retail Group, Inc. 1992 Stock Incentive Plan, as amended (the “Plan”), Casual Male Retail Group, Inc. (the “Company”) hereby grants to _________________________________. 
  
 (the “Optionee”) an Option to purchase on or prior to August 8, 2015 (the
“Expiration Date”) all or any part of                      shares (the “Option Shares”) of Common Stock of the Company par
value $.01 per share (“Common Stock”) at a price of $6.93 per share (the “Exercise Price”) in accordance with the schedule set forth in Section 1 hereof and subject to the terms and conditions set forth hereinafter and in the
Plan. This Option does not qualify as an incentive stock option under Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”), and consequently shall be treated as a non-qualified stock option for tax purposes. This
Option shall be governed by the laws of Massachusetts. 
  
 1.
Vesting Schedule. Subject to the provisions of Sections 3 and 5 hereof, this Option shall become vested and exercisable with respect to the following number of Option Shares according to the timetable set forth below: 
  

					
	 Number of Years
 After Date of
Grant

	 	 Percentage of Shares
 Becoming Available
 for Exercise

	 	 Cumulative
 Percentage Available

	less than 1 year	 	33 1/3%	 	33 1/3%
	1 – 2 years	 	33 1/3%	 	66 2/3%
	2 or more years	 	33 1/3%	 	100%

  
 2. Manner of
Exercise. The Optionee may exercise this Option, in whole or in part, only by a cashless exercise (in which upon exercise, the Optionee forfeits a number of shares of Common Stock underlying this Option having an aggregate Fair Market Value
equal to the aggregate Exercise Price of the portion of the Option being exercised) by surrender of this Option at the principal office of the Company, together with a written notice of his or her election to purchase some or all of the vested
shares of Common Stock purchasable at the time of such notice, in which event the Company shall issue to the Optionee a number of shares of Common Stock computed using the following formula: 
  

					
	 	  	X =	  	 Y – [(A*Y)/B]

			
	                             Where
	  	X =	  	 the number of shares of Common Stock to be issued to the Optionee.

			
	 	  	Y =	  	 the number of shares of Common Stock purchasable upon exercise of all of the Option or, if only a portion of the Option is being exercised,
the portion of the Option being exercised.

			
	 	  	A =	  	 the Exercise Price.

			
	 	  	B =	  	 the per share Fair Market Value of one share of Common Stock.

  

 - 1 - 

 Certificates for shares of Common Stock purchased upon the exercise of the Option shall be issued in the
name of the Optionee or his beneficiary, as the case may be, and delivered to the Optionee or his beneficiary as soon as practicable following the effective date on which the Option is exercised. 
  
 If requested upon the exercise of this Option, certificates for shares may be
issued in the name of the Optionee jointly with another person or in the name of the executor or administrator of the Optionee’s estate. 
  
 The delivery of certificates representing the Option Shares will be contingent upon the Company’s receipt from the Optionee of any agreement,
statement or other evidence as the Company may require to satisfy itself that the issuance of the Option Shares pursuant to the exercise of this Option and any subsequent resale of the shares will be in compliance with applicable laws and
regulations. 
  
 Notwithstanding any other provision hereof or of
the Plan, no portion of this Stock Option shall be exercisable after the Expiration Date hereof. 
  
 3. Termination. If the Optionee ceases to serve as a Director of the Company, this Option shall become fully vested and exerciseable, subject to
the following limitation. If the Optionee ceases to serve as a Director of the Company for any reason other than Cause (as defined in the Plan), the Optionee will have 90 days from the date the Optionee ceases serving as a Director in which to
exercise this Option, or until the Expiration Date, if earlier. If the Optionee ceases to serve as a Director for Cause, any Option held by the Optionee will terminate immediately and be of no further force and effect. If the Optionee ceases to
serve as a Director because of death (or otherwise has an Option outstanding at the time of his or her death), the Option may be exercised by the Optionee’s legal representative or legatee for a period of one (1) year from the date of death or
until the Expiration Date, if earlier. 
  
 4.
Non-transferability of Option. This Option shall not be transferable by the Optionee otherwise than by will or by the laws of descent and distribution and this Option shall be exercisable, during the Optionee's lifetime, only by the Optionee.
Notwithstanding the foregoing, the Committee may permit the Optionee to transfer, in whole or in part, without consideration for the transfer, this Option to members of the Optionee's immediate family, to any corporation, partnership, limited
liability company trust or other similar entity of which the Optionee and/or any members of the Optionee's family are the principal stockholders, partners, members, equity owners or beneficiaries; provided, however, that the transferee agrees in
writing with the Company to be bound by all terms and conditions of the Plan and this Option. 
  
 5. Change of Control. In the event of a Change of Control, as described in Section 13 of the Plan, each Stock Option will automatically become fully exercisable. 
  

 - 2 - 

 6. Option Shares. The Option Shares are shares of the Common Stock of the Company as constituted
on the date of this Option, subject to adjustment as provided in Section 3(b) of the Plan. 
  
 7. Rights as a Shareholder. The Optionee shall have no rights as a shareholder with respect to any shares of Common Stock which may be purchased by exercise of this Option unless and until a certificate or
certificates representing such shares are duly issued and delivered to the Optionee. Except as otherwise expressly provided in the Plan, no adjustment shall be made for dividends or other rights for which the record date is prior to the date such
stock certificate is issued. 
  
 8. The Plan. In the event
of any discrepancy or inconsistency between this Agreement and the Plan, the terms and conditions of the Plan shall control. 
  
 9. Miscellaneous. Notices hereunder shall be mailed or delivered to the Company at its principal place of business and shall be mailed or delivered
to Optionee at the address set forth below or, in either case, at such other address as one party may subsequently furnish to the other party in writing. 
  

			
	 CASUAL MALE RETAIL GROUP, INC.

		
	 By:
	 	 /s/ David A. Levin

	 	 	 David A. Levin

	 	 	 President and CEO

  
 Receipt of the
foregoing Option is acknowledged and its terms and conditions are hereby agreed to: 
  

							
	 Date:
	 	  

	  	 	  	  

	 	 	 	  	 	  	Signature of Director
				
	 	 	 	  	Address:	  	  

	 	 	 	  	 	  	  

	 	 	 	  	 	  	  

  

 - 3 -

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00090-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00090-of-00352.parquet"}]]