Document:

Form of Silver State Bank Incentive Stock Option Agreement

 Exhibit 4.5 
 SILVER STATE BANCORP 
 INCENTIVE STOCK OPTION AGREEMENT 
 This Stock Option Agreement (the “Agreement”) dated
                     is between Silver State Bancorp (the “Corporation”) and
                     (the “Grantee”). 
 Whereas, pursuant to the Silver State Bancorp 1998 Stock Option Plan (the “Plan”), a copy of which is attached hereto, the Corporation has authorized granting to the Grantee an incentive stock option to purchase all or any part of
                     authorized but unissued shares of the Corporation’s common stock for cash at the price of
                     per share, such option to be for the term and upon the terms and conditions hereinafter stated. 
  

	 	1.	Definitions 

 Unless the context clearly
indicates otherwise, the following terms, when used in the Agreement, shall have the following meanings: 
  

	 	2.1	“Beneficiary” shall be the person or persons who shall acquire the right to exercise an Option by bequest or inheritance. 

  

	 	2.2	“Board of Directors” or “Board” means the Board of Directors of the Corporation. 

  

	 	2.3	“Code” means the Internal Revenue Code of 1986 as amended from time to time. 

  

	 	2.4	“Grantee” means the person to whom an Option has been granted. 

  

	 	2.5	“Option” means an option to purchase shares of the Corporations’s common stock. 

  

	 	2.6	“Term” means the period during which the Options may be exercised.  

  

	 	2.	Administration 

 The Agreement will be
administered by the Board. The Board shall have authority to interpret the Agreement, to adopt and revise rules and regulations relating to the Agreement, and to make any other determinations which it believes necessary or advisable for the
administration of the Agreement The Board’s determinations under the Plan, including without limitation, determinations as to the persons to receive awards, the terms and provisions of such Options, and the agreements evidencing the same, need
to be uniform and may be made by it selectively among persons who receive or are eligible to receive awards under the Plan, whether or not such persons are similarly situated. 

	 	3.	Incentive Stock Options 

 It is intended that
the Options granted hereunder will qualify as incentive stock options under Section 422 (b) of the Code. 
  

	 	4.	Number and Source of Shares Granted 

 The
Corporation hereby grants options under the Agreement for                      shares of common stock (Shares) (subject to adjustment pursuant to
section 10 below) which shall be provided by the issuance of Shares authorized but unissued. 
  

	 	5.	Exercise Price 

 The exercise price for
Options granted under this Agreement will be                      per share. 
  

	 	6.	Term of Options 

 The Term of the Options
will be ten years. Any Options not exercised within ten years will be forfeited. 
  

	 	7.	Vesting 

 This option shall be exercisable as
to twenty-five percent (25%) of the total number of shares acquirable by this option on the first anniversary date of the grant of this stock option, an additional twenty-five percent (25%) of the total number of shares acquirable by this
option on the second anniversary date of the date of the grant of this stock option, an additional twenty-five percent (25%) of the total number of shares acquirable by this option on the third anniversary date of the date of the grant of this
option, and the remaining twenty-five percent (25%) of the total number of shares acquirable by this option on the fourth anniversary date of the date of the grant of this stock option. 
  

	 	8.	Exercise of Options By Grantee 

  

	 	a.	Options shall be exercised by delivering or mailing to the Board; 

  

	 	(1)	a notice, in the form and in the manner substantially as shown in Exhibit A to the Stock Option Plan, specifying the number of Shares to be purchased, and 

 

	 	(2)	payment in full of the exercise price for the Shares purchased. 

  

	 	b.	Upon receipt of the notice of exercise and upon payment of the exercise price, the Corporation shall promptly deliver to the Grantee a certificate or certificates for the Shares
purchased, without charge to him for issue or transfer tax. 

  

	 	c.	An Option may be exercised during the lifetime of the Grantee only by him. 

	 	9.	Exercise of Options After Death, Disability, Retirement or Other Termination of Employment 

 In the event of the Grantee’s retirement or disability, such vested Options may by exercised by the Grantee any time prior to the thirty-first day
immediately following the date of his retirement or the date the Board determined the Grantee is disabled. 
 In the event of the
Grantee’s death, the exercise of any Options under the Plan shall be made by his Beneficiary within the 30 days immediately following the transfer of such Options from the Grantee’s estate to the Beneficiary. 
 In the event of termination of employment of the Grantee for any other reason, all vested Options may be exercised within 30 days of such termination,
unless such termination is “for cause,” in which case Options granted to the Grantee are automatically forfeited as of the date of such termination and are nonexercisable. For the purposes of this Agreement, a termination “for
cause” means a termination due to any of the following events: 
  

	 	(i)	conviction of the Grantee for any acts that constitute embezzlement, theft, misappropriation of funds, or a continuing violation of governmental regulations;

  

	 	(ii)	conviction of the Grantee for the commission of a felony, as defined under Nevada law, or a crime of moral turpitude, in which event the Grantee’s employment shall terminate
upon the initial conviction. 

  

	 	I0.	Changes in Capital and Corporate Structure 

 In the event of any change in the outstanding shares of common stock of the Corporation by reason of a recapitalization, reclassification, reorganization, stock split, reverse stock split, combination of shares, stock dividend or similar
transaction, the Board shall proportionately adjust, in an equitable manner, the number of Options held by the Grantee under the Agreement. 
  

	 	11.	Effect of Merger of Other Reorganization 

 If
the Corporation shall be the surviving corporation in a merger or other reorganization, Option rights shall extend to stock and securities of the Corporation to the same extent that a holder of that number of Options immediately before the merger or
consolidation would be entitled to have. If the Corporation (i) dissolves, sells substantially all of its assets, sells more than fifty one percent of the Corporation’s outstanding Shares of common stock, or is a party to a merger or other
reorganization in which it is not the surviving corporation or (ii) more than fifty one percent of the Corporations’s outstanding shares or common stock or voting rights thereto are purchased or acquired by any person, entity or group of
persons and/or entities acting in concert (“Corporate Event”) then each Option shall be exercisable in full within the period of 30 days before the date of such dissolution, sale, merger, or Corporate Event without regard to the vesting
provision as described in paragraph 7 above. 

	 	12.	Stockholder Rights 

 The Grantee shall not
have any rights of a stockholder by virtue of an Option except with respect to Shares actually issued to him. 
  

	 	13.	Nontransferability 

 Options granted under
the Agreement, and any rights and privileges pertaining thereto, may not be transferred, assigned, pledged or hypothecated in any manner, by operation of law or otherwise, other than by will or by the laws of descent and distribution, and shall not
be subject to executive, attachment or similar process. Any attempted assignment, transfer, pledge, hypothecation, or other disposition of any Option, or levy of attachment or similar process upon the Option not specifically permitted herein shall
by null and void and without effect. 
  

	 	14.	Withholding 

 The Corporation shall have the
right to deduct from all Option gains pursuant to the Agreement any taxes required by law to be withheld with respect to such gains. 
  

	 	I5.	Miscellaneous Provisions 

  

	 	a.	Neither the Agreement nor any action taken hereunder shall be construed as giving the Grantee any right to be retained in the employ of the Corporation. 

  

	 	b.	Except when otherwise required by the context, any masculine terminology in this document shall include the feminine, and any singular terminology shall include the plural.

  

	 	c.	The obligation of the Corporation to sell and deliver Common Stock under the Plan shall be subject to all applicable laws, regulations, rules, and approvals, including, but not by
way of limitation, the effectiveness of a registration statement under the Securities Act of 1933 if deemed necessary or appropriate by the Corporation. 

  

	 	d.	Nothing in the Plan or any agreement entered into pursuant to the Plan shall confer upon any employee or other optionee the right to continue employment of the Corporation or any
subsidiary or affect any right which the Corporation or any subsidiary may have to terminate the employment of such key employee or other optionee. 

  

	 	e.	No optionee shall have any right as a shareholder unless and until certificates for shares of Common Stock are issued to him. 

	 	f.	If under any provision of the Plan which requires a computation of the number of shares of common stock subject to an Option, the number so computed is not a whole number of shares
of common stock, such number of shares of common stock shall be rounded down to the next whole number. 

  

	 	16.	Governing Law 

 The Agreement shall be
construed and its provisions enforced and administered in accordance with the laws of the State of Nevada except to the extent that such laws may be superseded by federal law. 
  

			
	GRANTEE	 	SILVER STATE BANCORP
		
		 	By:
		
		 	Title:

 EXHIBIT A 
 NOTICE OF STOCK OPTION EXERCISE 
 Silver State Bancorp 
 Chief Executive Officer 
 400 N. Green Valley Parkway 
 Henderson, NV 89074 
 Dear
                    : 
 Pursuant to my Stock Option
Agreement dated                      (the “Agreement”), I am exercising
(#)                     options at
$                     per share. Enclosed is payment in full for such options. I understand that my stock certificates will be issued within
thirty days of receipt of this letter. 
 I further acknowledge that Silver State Bancorp makes no representations as to federal or state tax matters, and
that I am to consult my own tax attorney or tax accountant for advice with respect to the exercise of my stock options. 
 Sincerely, 
 Name of GranteeForm of Silver State Bancorp Incentive Stock Option Agreement

 Exhibit 4.6 
 SILVER STATE BANCORP 
 INCENTIVE STOCK OPTION AGREEMENT 
 This Stock Option Agreement (the “Agreement”) dated
                     is between Silver State Bancorp (the “Corporation”) and
                     (the “Grantee”). 
 Whereas, pursuant to the Silver State Bancorp 2004 Stock Option Plan, as amended (the “Plan”), a copy of which is attached hereto, the Corporation has authorized granting to the Grantee an incentive stock option to purchase all or
any part of                      authorized but unissued shares of the Corporation’s common stock for cash at the price of
                     per share, such option to be for the term and upon the terms and conditions hereinafter stated. 
  

	 	1.	Definitions 

 Unless the context clearly
indicates otherwise, the following terms, when used in the Agreement, shall have the following meanings: 
  

	 	1.1	“Beneficiary” shall be the person or persons who shall acquire the right to exercise an Option by bequest or inheritance. 

  

	 	1.2	“Board of Directors” or “Board” means the Board of Directors of the Corporation. 

  

	 	1.3	“Code” means the Internal Revenue Code of 1986 as amended from time to time. 

  

	 	1.4	“Grantee” means the person to whom an Option has been granted. 

  

	 	1.5	“Option” means an option to purchase shares of the Corporation’s common stock. 

  

	 	1.6	“Plan” means the First Amended and Restated Silver State Bancorp 2004 Stock Option Plan, as may be amended from time to time. 

  

	 	1.7	“Term” means the period during which the Options may be exercised. 

  

	 	2.	Administration 

 The Agreement will be
administered by the Board. The Board shall have authority to interpret the Agreement, to adopt and revise rules and regulations relating to the Agreement, and to make any other determinations which it believes necessary or advisable for the
administration of the Agreement. The Board’s determinations under the Plan, including without limitation, determinations as to the persons to receive awards, the terms and provisions of such Options, and the agreements evidencing the same, need
not be uniform and may be made by it selectively among persons who receive or are eligible to receive awards under the Plan, whether or not such persons are similarly situated. 

	 	3.	Nonqualified Stock Options 

 It is intended
that the Options granted hereunder will not qualify as incentive stock options under Section 422 (b) of the Code. 
  

	 	4.	Number and Source of Shares Granted 

 The
Corporation hereby grants options under the Agreement for                      shares of common stock (Shares) (subject to adjustment pursuant to
section 10 below) which shall be provided by the issuance of Shares authorized but unissued. 
  

	 	5.	Exercise Price 

 The exercise price for
Options granted under this Agreement will be                      per share. 
  

	 	6.	Term of Options 

 The Term of the Options
will be ten years. Any Options not exercised within ten years will be forfeited. 
  

	 	7.	Vesting 

 This option shall be exercisable as
to twenty-five percent (25%) of the total number of shares acquirable by this option on the first anniversary date of the grant of this stock option, an additional twenty-five percent (25%) of the total number of shares acquirable by this
option on the second anniversary date of the date of the grant of this stock option, an additional twenty-five percent (25%) of the total number of shares acquirable by this option on the third anniversary date of the date of the grant of this
option, and the remaining twenty-five percent (25%) of the total number of shares acquirable by this option on the fourth anniversary date of the date of the grant of this stock option. 
  

	 	8.	Exercise of Options By Grantee 

  

	 	a.	Vested Options shall be exercised by delivering or mailing to the Board; 

  

	 	(1)	a notice, in the form and in the manner substantially as shown in Exhibit A to the Stock Option Plan, specifying the number of Shares to be purchased, and 

 

	 	(2)	payment in full of the exercise price for the Shares purchased. 

  

 2 

	 	b.	Upon receipt of the notice of exercise and upon payment of the exercise price, the Corporation shall promptly deliver to the Grantee a certificate or certificates for the Shares
purchased, without charge to him for issue or transfer tax. 

  

	 	c.	A vested Option may be exercised during the lifetime of the Grantee only by Grantee. 

  

	 	9.	Exercise of Options After Death, Disability, Retirement or Other Termination of Employment 

 In the event of the Grantee’s retirement or disability, such Options may be exercised by the
Grantee any time prior to the thirty-first (31st) day immediately following the date of Grantee’s retirement or the date the Board determined the
Grantee is disabled. 
 In the event of the Grantee’s death, the exercise of any Options under the Plan shall be made by
Grantee’s Beneficiary within the thirty (30) days immediately following the transfer of such Options from the Grantee’s estate to the Beneficiary. 
 In the event of termination of employment of the Grantee for any other reason, all vested Options may be exercised within thirty (30) days of such termination, unless such termination is “for cause,” in
which case Options granted to the Grantee are automatically forfeited as of the date of such termination and are nonexercisable. For the purposes of this Agreement, a termination “for cause” means a termination due to any of the following
events: 
 (i) Participant’s commission of any act involving fraud, dishonesty, criminal conduct, and/or moral turpitude; (ii) the
Participant’s attempted commission of and/or participation in a fraud or act of dishonesty against the Company, or any party or entity, that results in (or might have reasonably resulted in) material harm to the business and/or reputation of
the Company; (iii) the Participant’s material violation of any contract and/or agreement between the Participant and the Company and or material violation and/or breach of any duty owed to the Company; (iv) any material failure to
render services in accordance with Participant’s employment with the Company; (v) conduct by the Participant that constitutes gross insubordination, incompetence or neglect of duties and/or (vi) any violation of any Company policy or
any act or failure to act that is likely to prejudice the business or reputation of the Company and/or results in (or might have reasonably resulted in) material harm to the business of the Company. Notwithstanding the foregoing, such
Participant’s death or disability shall not constitute Cause as set forth herein. The determination that a termination is for Cause shall be by the Board or Committee, as applicable, in its sole and exclusive judgment and discretion.

  

 3 

	 	10.	Changes in Capital and Corporate Structure 

 In the event of any change in the outstanding shares of common stock of the Corporation by reason of an issuance of additional shares, recapitalization, reclassification, reorganization, stock split, reverse stock split, combination of
shares, stock dividend or similar transaction, the Board shall proportionately adjust, in an equitable manner, the number of Options held by the Grantee under the Agreement. 
  

	 	11.	Effect of Merger or Other Reorganization 

 If
the Corporation shall be the surviving corporation in a merger or other reorganization, Option rights shall extend to stock and securities of the Corporation to the same extent that a holder of that number of Options immediately before the merger or
consolidation would be entitled to have. If the Corporation (i) dissolves, sells substantially all of its assets, sells more than fifty one percent (51%) of the Corporation’s outstanding Shares of common stock, or is a party to a
merger or other reorganization in which it is not the surviving corporation or (ii) more than fifty one percent (51%) of the Corporation’s outstanding shares or common stock or voting rights thereto are purchased or acquired by any
person, entity or group of persons and/or entities acting in concert (“Corporate Event”) then each Option shall be exercisable in full within the period of thirty (30) days before the date of such dissolution, sale, merger, or
Corporate Event without regard to the vesting provision as described in paragraph 7 above. 
  

	 	12.	Stockholder Rights 

 The Grantee shall not
have any rights of a stockholder by virtue of an Option except with respect to Shares actually issued to Grantee. 
  

	 	13.	Nontransferability 

 Options granted under
the Agreement, and any rights and privileges pertaining thereto, may not be transferred, assigned, pledged or hypothecated in any manner, by operation of law or otherwise, other than by will or by the laws of descent and distribution, and shall not
be subject to executive, attachment or similar process. Any attempted assignment, transfer, pledge, hypothecation, or other disposition of an Option, or levy of attachment or similar process upon the Option not specifically permitted herein shall be
null and void and without effect. 
  

	 	14.	Withholding 

 The Corporation shall have the
right to deduct from all Option gains pursuant to the Agreement any taxes required by law to be withheld with respect to such gains. 
  

 4 

	 	15.	Miscellaneous Provisions 

  

	 	a.	Neither the Agreement nor any action taken hereunder shall be construed as giving the Grantee any right to be retained in the employ of the Corporation. 

  

	 	b.	Except when otherwise required by the context, any masculine terminology in this document shall include the feminine, and any singular terminology shall include the plural.

  

	 	c.	The obligation of the Corporation to sell and deliver Common Stock under the Plan shall be subject to all applicable laws, regulations, rules, and approvals, including, but not by
way of limitation, the effectiveness of a registration statement under the Securities Act of 1933 if deemed necessary or appropriate by the Corporation. 

  

	 	d.	Nothing in the Plan or any agreement entered into pursuant to the Plan shall confer upon any employee or other optionee the right to continue employment of the Corporation or any
subsidiary or affect any right which the Corporation or any subsidiary may have to terminate the employment of such key employee or other optionee. 

  

	 	e.	No optionee shall have any right as a shareholder unless and until certificates for shares of Common Stock are issued to him. 

  

	 	f.	If under any provision of the Plan which requires a computation of the number of shares of common stock subject to an Option, the number so computed is not a whole number of shares
of common stock, such number of shares of common stock shall be rounded down to the next whole number. 

  

	 	16.	Governing Law 

 The Agreement shall be
construed and its provisions enforced and administered in accordance with the laws of the State of Nevada except to the extent that such laws may be superseded by federal law. 
  

							
	GRANTEE	  	SILVER STATE BANCORP
				
	By:	 	  
	  	By:	 	  

				
		 		  	Title:	 	  

  

 5

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