Document:

Exhibit 10.6

 

DATALINK CORPORATION

 

Non-Qualified Stock Option Agreement

Under the 2011 Incentive Compensation Plan

 

Datalink Corporation (the “Company”), pursuant to its 2011 Incentive Compensation Plan (the “Plan”), hereby grants an Option to purchase shares of the Company’s common stock to you, the Optionee named below.  The terms and conditions of the Option Award are set forth in this Agreement, consisting of this cover page and the Option Terms and Conditions on the following pages, and in the Plan document which is attached.

 

 

	
Name   of Optionee:          **[                       ]
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
No. of   Shares Covered: **[       ]
    	
 
    	
Date   of Grant:                             ,   20  
    
	
 
    	
 
    	
 
    
	
Exercise   Price Per Share:              $**[      ] 
    	
 
    	
Expiration   Date:                         ,   20  
    
	
 
    	
 
    	
 
    
	
Vesting   and Exercise Schedule:
    	
 
    	
 
    

 

	
 
    	
 
    	
Portion of Covered Shares as to Which
    
	
Dates
    	
 
    	
Option Becomes Vested and Exercisable
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    

 

By signing below, you agree to all of the terms and conditions contained in this Agreement and in the Plan document, a copy of which is attached.  You acknowledge that you have reviewed these documents and that they set forth the entire agreement between you and the Company regarding your right to purchase shares of the Company’s common stock pursuant to this Option.

 

	
OPTIONEE:
    	
 
    	
DATALINK   CORPORATION
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Title:
    	
 
    

 

1

 

Datalink Corporation

2011 Incentive Compensation Plan

Non-Qualified Stock Option Agreement

 

Option Terms and Conditions*

 

1.                                       Non-Qualified Stock Option.  This Option is not intended to be an “incentive stock option” within the meaning of Section 422 of the Internal Revenue Code (the “Code”).

 

2.                                       Vesting and Exercise Schedule.  This Option will vest and become exercisable as to the number of Shares and on the dates specified in the Vesting and Exercise Schedule on the cover page to this Agreement, so long as your Service to the Company does not end.  The Vesting and Exercise Schedule is cumulative, meaning that to the extent the Option has not already been exercised and has not expired, terminated or been cancelled, you or the person otherwise entitled to exercise the Option as provided in this Agreement may at any time purchase all or any portion of the Shares that may then be purchased under that Schedule.

 

In addition, vesting and exercisability of this Option may be accelerated during the term of the Option under the circumstances described in Section 14 of the Plan, and at the discretion of the Committee in accordance with Section 3(b)(2) of the Plan.

 

3.                                       Expiration.  This Option will expire and will no longer be exercisable at 5:00 p.m. Central Time on the earliest of:

 

(a)                                  The expiration date specified on the cover page of this Agreement;

 

(b)                                 Upon your termination of Service for Cause;

 

(c)                                  Upon the expiration of any applicable period specified in Section 6(e) of the Plan during which this Option may be exercised after your termination of Service; or

 

(d)                                 The date (if any) fixed for termination or cancellation of this Option pursuant to Section 14 of the Plan.

 

4.                                       Service Requirement.  Except as otherwise provided in Section 6(e) or Section 14 of the Plan, this Option may be exercised only while you continue to provide Service to the Company or any Affiliate, and only if you have continuously provided such Service since the Date of Grant.

 

5.                                       Exercise of Option.  Subject to Section 4, the vested and exercisable portion of this Option may be exercised at any time during the Option term by delivering a written notice of exercise, in the form attached to this Agreement, to the Company at its principal executive office (or to the Company’s designated agent for such purpose), and by providing for payment of the exercise price of the Shares being acquired and any related withholding taxes.  The notice shall state the number of Shares to be purchased, and shall be signed by the person exercising the Option.  If you are not the person exercising the Option, the person submitting the notice also must submit appropriate proof of his/her right to exercise the Option.

 

*                                         Unless the context indicates otherwise, terms that are not defined in this Agreement shall have the meaning set forth in the Plan as it currently exists or as it is amended in the future.

 

 

6.                                       Payment of Exercise Price.  When you submit your notice of exercise, you must include payment of the exercise price of the Shares being purchased through one or a combination of the following methods:

 

(a)                                  Cash (including personal check, cashier’s check or money order); or

 

(b)                                 To the extent permitted by the Committee, by means of a broker-assisted cashless exercise in which you irrevocably instruct your broker to deliver proceeds of a sale of all or a portion of the Shares to be issued pursuant to the exercise to the Company in payment of the exercise price of such Shares.

 

7.                                       Withholding Taxes.  You may not exercise this Option in whole or in part unless you make arrangements acceptable to the Company for payment of any federal, state, local or foreign withholding taxes that may be due as a result of the exercise of this Option.  You hereby authorize the Company (or any Affiliate) to withhold from payroll or other amounts payable to you any sums required to satisfy such withholding tax obligations, and otherwise agree to satisfy such obligations in accordance with the provisions of Section 16 of the Plan.  If you wish to satisfy some or all of such withholding tax obligations by delivering Shares you already own or by having the Company retain a portion of the Shares being acquired upon exercise of the Option, you must make such a request which shall be subject to approval by the Company.  Delivery of Shares upon exercise of this Option is subject to the satisfaction of applicable withholding tax obligations.

 

8.                                       Delivery of Shares.  As soon as practicable after the Company receives the notice and exercise price provided for above, and has determined that all conditions to exercise, including Sections 7 and 9 of this Agreement, have been satisfied, it shall deliver to the person exercising the Option, in the name of such person, the Shares being purchased, as evidenced by issuance of a stock certificate or certificates, electronic delivery of such Shares to a brokerage account designated by such person, or book-entry registration of such Shares with the Company’s transfer agent.  The Company shall pay any original issue or transfer taxes with respect to the issue or transfer of the Shares and all fees and expenses incurred by it in connection therewith.  All Shares so issued shall be fully paid and nonassessable.

 

9.                                       Compliance with Laws.  This Option may be exercised only if the issuance of Shares upon such exercise complies with all applicable legal requirements, including compliance with the provisions of applicable federal and state securities laws.

 

10.                                 Transfer of Option.  During your lifetime, only you (or your guardian or legal representative in the event of legal incapacity) may exercise this Option except in the case of a transfer described below.  You may not assign or transfer this Option except (i) for a transfer upon your death in accordance with your will, by the laws of descent and distribution or pursuant to a beneficiary designation submitted in accordance with Section 6(d) of the Plan, (ii) pursuant to a qualified domestic relations order, or (iii) with the prior written approval of the Company, by gift, in a form accepted by the Company, to a permitted transferee under General Instruction A(5) to Form S-8 under the Securities Act.  The Option held by any such transferee will continue to be subject to the same terms and conditions that were applicable to the Option immediately prior to its transfer and may be exercised by such transferee as and to the extent that the Option has become exercisable and has not terminated in accordance with the provisions of the Plan and this Agreement.

 

11.                                 No Stockholder Rights Before Exercise.  Neither you nor any permitted transferee of this Option will have any of the rights of a stockholder of the Company with respect to any Shares subject to

 

 

this Option until a certificate evidencing such Shares has been issued, electronic delivery of such Shares has been made to your designated brokerage account, or an appropriate book entry in the Company’s stock register has been made.  No adjustments shall be made for dividends or other rights if the applicable record date occurs before your stock certificate has been issued, electronic delivery of your Shares has been made to your designated brokerage account, or an appropriate book entry in the Company’s stock register has been made, except as otherwise described in the Plan.

 

12.                                 Governing Plan Document.  This Agreement and Option are subject to all the provisions of the Plan, and to all interpretations, rules and regulations which may, from time to time, be adopted and promulgated by the Committee pursuant to the Plan.  If there is any conflict between the provisions of this Agreement and the Plan, the provisions of the Plan will govern.

 

13.                                 Choice of Law.  This Agreement will be interpreted and enforced under the laws of the state of Minnesota (without regard to its conflicts or choice of law principles).

 

14.                                 Binding Effect.  This Agreement will be binding in all respects on your heirs, representatives, successors and assigns , and on the successors and assigns of the Company.

 

15.                                 Other Agreements.  You agree that in connection with the exercise of this Option, you will execute such documents as may be necessary to become a party to any stockholder, voting or similar agreements as the Company may require.

 

16.                                 Notices.  Every notice or other communication relating to this Agreement shall be in writing and shall be mailed to or delivered to the party for whom it is intended at such address as may from time to time be designated by it in a notice mailed or delivered to the other party as herein provided.  Unless and until some other address is so designated, all notices or communications by you to the Company shall be mailed or delivered to the Company at its office at 8170 Upland Circle, Chanhassen, MN 55317, and all notices or communications by the Company to you may be given to you personally or may be mailed to you at the address indicated in the Company’s records as your most recent mailing address.

 

By signing the cover page of this Agreement, you agree to all the terms and conditions described above and in the Plan document.

 

 

NOTICE OF EXERCISE

Non-Qualified Stock Option

 

                  , 20  

 

Datalink Corporation

8170 Upland Circle

Chanhassen, MN 55317

Attention:                     

 

Ladies and Gentlemen:

 

I hereby exercise the following option (the “Option”) granted to me under the Datalink Corporation 2011 Incentive Compensation Plan (as amended from time to time, the “Plan”) with respect to the number of shares of common stock of Datalink Corporation (the “Company”) indicated below:

 

 

Name:

 

Date of Grant of Option:

 

Exercise Price Per Share:

 

Number of Shares With Respect to Which
 the Option is Hereby Exercised:

 

Total Exercise Price:

 

o                                    Enclosed with this Notice is a check, cashier’s check or money order in the amount of the Total Exercise Price.

 

o                                    Enclosed with this Notice is a copy of my irrevocable instruction to my broker,                                   , to deliver to the Company proceeds of the sale of some or all of the Shares being acquired in an amount equal to the Total Exercise Price.

 

5

 

Please issue the number of Shares with respect to which the Option is being exercised in the manner indicated below:

 

o                                    Issue a certificate (the “Certificate”) for the Shares in the name of the person(s) indicated below and deliver the Certificate to the address indicated:

 

Name(s) in Which to Issue 
 Certificate:

 

Address to Which Certificate
 Should be Delivered:

 

 

 

Principal Mailing Address for
 Holder of the Certificate (if
 different from above):

 

 

 

o                                    Electronic delivery of the Shares to my brokerage account as indicated below:

 

Name of Brokerage Firm:

 

My Account Number:

 

Brokerage Firm DWAC Participant Number:

 

o                                    Create a book-entry registration of the Shares in the name of the person(s) indicated below:

 

Name(s) in Which to Create
 Book-Entry Registration:

 

Mailing Address for Book-
 Entry Holders:

 

 

	
 
    	
Very   truly yours,
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Signature
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Name,   please print
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Social   Security NumberExhibit 10.1

 

Option:  2002 EIP -      

 

GRANITE CITY FOOD & BREWERY LTD.

 

FORM OF NON-QUALIFIED DIRECTOR STOCK OPTION AGREEMENT

 

PURSUANT TO AMENDED AND RESTATED EQUITY INCENTIVE PLAN

 

Date of Grant:                                , 20    

 

Granite City Food & Brewery Ltd., a Minnesota corporation (the “Company”), hereby grants to                                        (the “Optionee”), an option (the “Option”) to purchase an aggregate of                          shares of Stock (the “Shares”), at the price set forth below, and in all respects subject to the terms, definitions and provisions of the Granite City Food & Brewery Ltd. Amended and Restated Equity Incentive Plan (the “Plan”) adopted by the Company, which is attached hereto and incorporated herein by reference [EIP to be attached].  Unless otherwise defined herein, the terms used herein shall have the meanings assigned to them in the Plan.

 

1.             Nature of the Option.  This Option is not intended to qualify as an Incentive Stock Option as defined in Section 422 of the Code.

 

2.             Exercise Price.  The exercise price for each share of Stock is $                      .

 

3.             Exercise of Option.  This Option shall be exercisable during its term in accordance with the provisions of Section 6 of the Plan as follows:

 

(a)           Expiration Date.  The Option shall expire on                        (the “Expiration Date”).  In no event may this Option be exercised after the Expiration Date.

 

(b)           Exercisability.  Subject to the remaining terms of this Agreement and the Plan, the Option shall be exercisable and deemed vested in full on the first anniversary of Date of Grant.

 

(c)           Limitations on Exercisability.  The Option shall be exercisable only while the Optionee serves as an outside director of the Company or, in the event of Optionee’s death or termination of service as a director, the exercisability of the Option is governed by Sections 8 and 9 below.

 

(d)           Written Notice of Exercise.  Any exercise shall be accompanied by a written notice to the Company specifying the number of shares of Stock as to which the Option is being exercised.  Notation of any partial exercise shall be made by the Company on Schedule I hereto.

 

(e)           Payment of Exercise Price.  The exercise price of the shares as to which the Option may be exercised shall be paid in full at the time of exercise.

 

(f)            Compliance with Laws and Regulations.  No Shares will be issued pursuant to the exercise of an Option unless such issuance and such exercise shall comply with all relevant provisions of law and the requirements of any stock exchange or automated quotation system upon which the Shares may then be listed.  Assuming such compliance, for income tax purposes

 

 

the Shares shall be considered transferred to the Optionee on the date on which the Option is exercised with respect to such Shares.

 

4.             Change in Control.  Upon the occurrence of a “Change in Control” (as defined in Section 2(h) of the Plan), this Option shall become fully vested and exercisable unless this Option is assumed by the surviving corporation or its parent substitutes options with substantially the same economic terms as this Option.  The Board or, where applicable, the Committee shall also have the right to cancel the unexercised portion of this Option in the event of a Change in Control, provided that in exchange for such cancellation, the Optionee will receive a cash payment equal to the Change in Control consideration less the exercise price set forth in Section 2 above.

 

5.             Optionee’s Representations.  In the event the Shares purchasable pursuant to the exercise of this Option have not been registered under the Act, at the time this Option is exercised, the Optionee shall, concurrently with the exercise of all or any portion of this Option, deliver to the Company an investment representation statement in a form acceptable to the Company.

 

6.             Method of Payment.  Payment of the exercise price shall be by (i) cash; (ii) check, bank draft or money order; (iii) if authorized by the Board or the Compensation Committee, by delivery of shares of Stock (valued at the fair market value thereof on the date of exercise); or (iv) by delivery of a combination of cash and Stock.  The Board or the Compensation Committee may, in order to prevent any possible violation of law, require the payment price to be paid in cash.

 

7.             Restrictions on Exercise.  This Option may not be exercised if the issuance of such Shares upon such exercise or the method of payment of consideration for such shares would constitute a violation of any applicable federal or state securities or other law or regulation, including any rule under Part 207 of Title 12 of the Code of Federal Regulations as promulgated by the Federal Reserve Board.  As a condition to the exercise of this Option, the Company may require Optionee to make any representation and warranty to the Company as may be required by any applicable law or regulation.

 

8.             Termination of Status as a Director.  If the Optionee ceases to serve as a director for reasons other than due to death, the Optionee may, but only within twelve (12) months after the date the Optionee ceases to be an outside director of the Company, exercise his Option to the extent the Optionee was entitled to exercise it at the date of such termination.  To the extent that the Optionee was not entitled to exercise the Option at the date of such termination, or if the Optionee does not exercise such Option within the time specified herein, the Option shall terminate.

 

9.             Death of Optionee.  In the event of the death of the Optionee occurring:

 

(a)           during the term of the Option, and provided that the Optionee was at the time of death a director of the Company and had been in continuous service as a director since the date of grant of the Option, the Option may be exercised, at any time within twelve (12) months following the date of death, by the Optionee’s estate or by a person who acquired the right to exercise the Option by bequest or inheritance, but only to the extent of the right to exercise that would have accrued had the Optionee continued living and remained in continuous service a director for twelve (12) months after the date of death; or

 

(b)           after the termination of continuous service as a director, the Option may be exercised by the Optionee’s estate or by a person who acquired the right to exercise the Option by bequest or inheritance, but only to the extent of the right to exercise that had accrued at the date of termination of continuous service as a director and only during the period the Option was exercisable by Optionee had death not occurred.

 

 

10.           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 or pursuant to a qualified domestic relations order and may be exercised, during the lifetime of the Optionee, only by the Optionee.

 

11.           Adjustments Upon Changes in Capitalization.  The number of shares of Common Stock covered by the Option and the per share exercise price of the Option shall be proportionately adjusted for any increase or decrease in the number of issued and outstanding shares of Common Stock resulting from a stock split, reverse stock split, stock dividend, combination or reclassification of the Common Stock, or any other increase or decrease in the number of issued shares of Common Stock effected without receipt of consideration by the Company; provided, however, that conversion of any convertible securities of the Company shall not be deemed to have been “effected without receipt of consideration.”  Such adjustment shall be made by the Board, whose determination in that respect shall be final, binding and conclusive.  Except as expressly provided herein or in the Plan, no issuance by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, or options or rights to purchase shares of Common Stock of any class shall affect, and no adjustment by reason thereof shall be made with respect to, the number or price of shares of Common Stock subject to the Option.

 

12.           No Rights as Shareholder.  The Optionee shall have no rights as a shareholder with respect to any shares of Common Stock subject to this Option prior to the date of issuance to him or her of a certificate or certificates for such shares.

 

13.           No Right to Continued Status as a Director.  The Option shall not confer upon the Optionee any right with respect to continued status as a director of the Company, nor shall it interfere in any way with the right of the Company or its shareholders to terminate his status as a director of the Company at any time.

 

14.           Notices.  Any notice hereunder to the Company shall be addressed to it at its principal executive offices; and any notice hereunder to the Optionee shall be addressed to him or her at the address set forth below; subject to the right of either party to designate at any time hereunder in writing some other address.

 

15.           Investment Representation.  As a condition to the exercise of the Option, the Company may require the person exercising the Option to represent and warrant at the time of exercise that the shares of Common Stock are being purchased only for investment and without any present intention to sell or distribute such shares, if, in the opinion of counsel for the Company, such a representation is required by any relevant provisions of law.  The shares of Common Stock issued pursuant to the Option may be issued with appropriate legends on the stock certificates representing the shares, and the Company may place stop transfer orders with respect to such shares.

 

16.           Plan Interpretation.  Optionee hereby agrees to accept as binding, conclusive and final all decisions and interpretations of the Board and, where applicable, the Compensation Committee, upon questions arising under the Plan.  In the event of any question or inconsistency between this Agreement and the Plan, the terms and conditions of the Plan shall govern.

 

17.           Counterparts.  This Agreement may be executed in two counterparts each of which shall constitute one and the same instrument.

 

IN WITNESS WHEREOF, the Company has caused this Agreement to be executed by the Chief Executive Officer and the Optionee has executed this Agreement, both effective as of the day and year set forth above.

 

 

	
 
    	
 
    	
GRANITE   CITY FOOD & BREWERY LTD.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
 
    
	
 
    	
 
    	
 
    	
Robert   J. Doran
    
	
 
    	
 
    	
 
    	
Chief   Executive Officer
    
	
 
    	
 
    	
 
    
	
Optionee   (signature)
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Name   and address of Optionee:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    

 

 

SCHEDULE I — NOTATIONS AS TO PARTIAL EXERCISE

 

	
Date of Exercise
    	
 
    	
Number of 
   Purchased Shares
    	
 
    	
Balance of Shares 
   on Option
    	
 
    	
Authorized 
   Signature
    	
 
    	
Notation Date

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