Document:

FORM OF BANKWEST INCENTIVE STOCK OPTION PLAN

 

Exhibit 10.3

BANKWEST NEVADA CORPORATION INCENTIVE STOCK OPTION PLAN

GRANT OF INCENTIVE STOCK OPTION

Date of Grant:
                                        , 19

     THIS GRANT, dated as of the date of grant first stated above (the “Date of Grant”), is
delivered by BANKWEST NEVADA CORPORATION, a Nevada banking corporation (“BANKWEST “) to
                                         (the “Grantee”), who is an employee
and/or officer of BANKWEST or one of its subsidiaries (the Grantee’s employer is sometimes referred
to herein as the “Employer”).

     WHEREAS, the Board of Directors of BANKWEST (the “Board”) on
                                        ,
1997, adopted, with subsequent stockholder approval, THE BANKWEST NEVADA CORPORATION INCENTIVE STOCK OPTION PLAN (the “Plan”);

     WHEREAS, the Plan provides for the granting of incentive stock options by a committee to be
appointed by the Board (the “Committee”) to officers and other key employees of BANKWEST or any
subsidiary of BANKWEST (excluding all persons who are not employees of BANKWEST) to purchase, or to
exercise certain rights with respect to, shares of the Common Stock of BANKWEST, par value $                    
per share (the “Stock”), in accordance with the terms and provisions thereof; and

     WHEREAS, the Committee considers the Grantee to be a person who is eligible for a grant of
incentive stock options under the Plan, and has determined that it would be in the best interest of
BANKWEST to grant the incentive stock options documented herein.

 

 

     NOW, THEREFORE, the parties hereto, in consideration of the rights and obligations hereunder
and other good and valuable consideration, the receipt of which is hereby acknowledged, and
intending to be legally bound hereby, agree as follows:

I. GRANT OF OPTION

     Subject to the terms and conditions hereinafter set forth, BANKWEST, with the approval and at
the direction of the Committee, hereby grants to the Grantee, as of the Date of Grant, an option to
purchase up to                     shares of Stock at a price of $                    
per share, the fair market value. Such option is hereinafter referred to as the
“Option” and the shares of stock purchasable upon exercise of the Option are hereinafter sometimes
referred to as the “Option Shares”. The Option is intended by the parties hereto to be, and shall
be treated as, an incentive stock option (as such term is defined under Section 422 of the Internal
Revenue Code of 1986).

II. INSTALLMENT EXERCISE

     Subject to such further limitations as are provided herein, the Option shall become
exercisable in three (3) installments, the Grantee having the right hereunder to purchase from
BANKWEST the following number of Option Shares upon exercise of the Option, on and after the
following dates, in cumulative fashion:

	 	(a)  	on and after the second anniversary of the Date of Grant, up to one-third
(ignoring fractional shares) of the total number of Option Shares;
	 
	 	(b)  	on and after the third anniversary of the Date of Grant, up to an additional
one-third (ignoring fractional shares) of the total number of Option Shares; and
	 
	 	(c)  	on and after the fourth anniversary of the Date of Grant, the remaining Option
Shares.

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III. TERMINATION OF OPTION

     A. The Option and all rights hereunder with respect thereto, to the extent such rights
shall not have been exercised, shall terminate and become null and void after the expiration
of ten (10) years from the Date of Grant (the “Option Term”).

     B. Upon the occurrence of the Grantee’s ceasing for any reason to be employed by the
Employer (such occurrence being a “termination of the Grantee’s employment”), the Option, to
the extent not previously exercised, shall terminate and become null and void following the
expiration of ninety (90) days from the date of such termination of the Grantee’s
employment, except in a case where the termination of the Grantee’s employment is by reason
of retirement, disability or death. Upon a termination of the Grantee’s employment by
reason of retirement, disability or death, the Option may be exercised during the following
periods, but only to the extent that the Option was outstanding and exercisable on any such
date of retirement, disability or death: (i) the one-year period following the date of such
termination of the Grantee’s employment in the case of a disability [within the meaning of
Section 22 (e) (3) of the Code], (ii) the six-month period following the date of issuance of
letter testamentary or letters of administration to the executor or administrator of a
deceased Grantee, in the case of the Grantee’s death during his employment by the Employer,
but not later than one year after the Grantee’s death, and (iii) the three-month period
following the date of such termination in the case of retirement on or after attainment of
age 65, or in the case of disability other than as described in (i) above. In no event,
however, shall any such period extend beyond the Option Term.

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     C. In the event of the death of the Grantee, the Option may be exercised by the
Grantee’s legal representative(s), but only to the extent that the Option would otherwise
have been exercisable by the Grantee.

     D. A transfer of the Grantee’s employment between BANKWEST and any subsidiary of
BANKWEST, or between any subsidiaries of BANKWEST, shall not be deemed to be a termination
of the Grantee’s employment.

     E. Notwithstanding any other provisions set forth herein or in the Plan, if the
Grantee shall (i) commit any act of malfeasance or wrongdoing affecting BANKWEST or any
subsidiary of BANKWEST, (ii) breach any covenant not to compete, or employment contract,
with BANKWEST or any subsidiary of BANKWEST, or (iii) engage in conduct that would warrant
the Grantee’s discharge for cause (excluding general dissatisfaction with the performance of
the Grantee’s duties, but including any act of disloyalty or any conduct clearly tending to
bring discredit upon BANKWEST or any subsidiary of BANKWEST), any unexercised portion of the
Option shall immediately terminate and be void.

IV. EXERCISE OF OPTIONS

     A. The Grantee may exercise the Option with respect to all or any part of the number
of Option Shares then exercisable hereunder by giving the Secretary of BANKWEST written
notice of intent to exercise. The notice of exercise shall specify the number of Option
Shares as to which the Option is to be exercised and the date of exercise thereof, which
date shall be at least five days after the giving of such notice unless an earlier time
shall have been mutually agreed upon.

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     B. Full payment (in U.S. dollars) by the Grantee of the option price for the Option
Shares purchased shall be made on or before the exercise date specified in the notice of
exercise in cash, or, with prior written consent of the Committee, in whole or in part
through the surrender of previously acquired shares of Stock at their fair market value on
the exercise date.

     On the exercise date specified in the Grantee’s notice or as soon thereafter as is
practicable, BANKWEST shall cause to be delivered to the Grantee, a certificate or
certificates for the Option Shares then being purchased (out of theretofore unissued Stock
or reacquired Stock, as BANKWEST may elect) upon full payment for such Option Shares. The
obligation of BANKWEST to deliver Stock shall, however, be subject to the condition that if
at any time the Committee shall determine in its discretion that the listing, registration
or qualification of the Option or the Option Shares upon any securities exchange or under
any state or federal law, or the consent or approval of any governmental regulatory body, is
necessary or desirable as a condition of, or in connection with, the Option or the issuance
or purchase of Stock thereunder, the Option may not be exercised in whole or in part unless
such listing, registration, qualification, consent or approval shall have been effected or
obtained free of any conditions not acceptable to the Committee.

     C. If the Grantee fails to pay for any of the Option Shares specified in such notice
or fails to accept delivery thereof, the Grantee’s right to purchase such Option Shares may
be terminated by BANKWEST. The date specified in the Grantee’s notice as the date of
exercise shall be deemed the date of exercise of the Option, provided that payment in full
for the Option Shares to be purchased upon such exercise shall have been received by such
date.

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V. ADJUSTMENT OF AND CHANGES IN STOCK OF BANKWEST

     In the event of a reorganization, recapitalization, change of shares, stock split, spin-off,
stock dividend, reclassification, subdivision or combination of shares, merger, consolidation,
rights offering, or any other change in the corporate structure or shares of capital stock of
BANKWEST, the Committee shall make such adjustment as it deems appropriate in the number and kind
of shares of Stock subject to the Option or in the option price; provided, however, that no such
adjustment shall give the Grantee any additional benefits under the Option.

VI. FAIR MARKET VALUE

     As used herein, the “fair market value” of a share of Stock shall be the average of the high
and low sale prices per share of Stock on any national stock exchange, composite tape or other
recognized market source, as determined by the Committee, on applicable date of reference
hereunder, or if there is no sale on such date, then the average of such high and low sale prices
on the last previous day on which a sale is reported. In the absence of an established market of
the type described above for the Common Stock, the Fair Market Value thereof shall be determined by
the committee in good faith.

VII. NO RIGHTS OF STOCKHOLDERS

     During the Grantee’s lifetime, the Option hereunder shall be exercisable only by the
Grantee or any guardian or legal representative of the Grantee, and the Option shall not be
transferable except, in case of the death of the Grantee, by will or the laws of descent and
distribution, nor shall the Option be subject to attachment, execution or other similar process.
In the event of (a) any attempt by the Grantee to alienate, assign, pledge, hypothecate or
otherwise dispose of the Option, except as provided for herein, or (b) the levy of any attachment,
execution or similar process upon

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the rights or interest hereby conferred, BANKWEST may terminate the Option by notice to the
Grantee and it shall thereupon become null and void.

IX. EMPLOYMENT NOT AFFECTED

     The granting of the Option or its exercise shall not be construed as granting to the Grantee
any right with respect to continuance of employment of the Employer. Except as may otherwise be
limited by a written agreement between the Employer and the Grantee, the right of the Employer to
terminate at will the Grantee’s employment with it at any time (whether by dismissal, discharge,
retirement or otherwise) is specifically reserved by BANKWEST, as the Employer or on behalf of the
Employer (whichever the case may be), and acknowledged by the Grantee.

X. AMENDMENT OF OPTION

     The Option may be amended by the Board or the Committee at any time (i) if the Board or the
Committee determines, in its sole discretion, that amendment is necessary or advisable in the light
of any addition to or change in the Internal Revenue Code of 1986 or in the regulations issued
thereunder, or any federal or state securities law or other law or regulation, which change occurs
after the Date of Grant and by its terms applies to the Option; or (ii) other than in the
circumstances described in clause (i), with the consent of the Grantee.

XI. NOTICE

     Any notice to BANKWEST provided for in this instrument shall be addressed to in care of its
Secretary at its executive office at 3500 West Sahara Avenue, Las Vegas, Nevada 89102, and any
notice to the Grantee shall be addressed to the Grantee at the current address shown on the payroll
records of the Employer. Any notice shall be deemed to be duly given if and when properly
addressed and posted by registered or certified mail, postage prepaid.

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XII. INCORPORATION OF PLAN BY REFERENCE

     The Option is granted pursuant to the terms of the Plan, the terms of which are incorporated
herein by reference, and the Option shall in all respects be interpreted in accordance with the
Plan. The Committee shall interpret and construe the Plan and this instrument, and its
interpretations and determinations shall be conclusive and binding on the parties hereto and any
other person claiming an interested hereunder, with respect to any issue arising hereunder or
thereunder.

XIII. GOVERNING LAW

     The validity, construction, interpretation and effect of this instrument shall exclusively be
governed by and determined in accordance with the laws of the State of Nevada, except to the extent
preempted by federal law, which shall to such extent govern.

     IN WITNESS WHEREOF, BANKWEST has caused its duly authorized officers to execute and attest
this Grant of Incentive Stock Option, and to apply the corporate seal hereto, and the Grantee has
placed his or her signature hereon, effective as of the Date of Grant.

	 	 	 	 	 
	 	 	BANKWEST NEVADA CORPORATION, a Nevada
	 	 	banking corporation
	 
	 	 	 	 
	

	 	By	 	 
	

	 	 	 	LARRY L. WOODRUM, President
	 
	 	 	 	 
	

	 	By	 	 
	

	 	 	 	ROBERT E. CLARK, Secretary

	 	 	 	 	 
	ACCEPTED AND AGREED TO:
	 
	 	 	 	 
	By
	 	 	 	 
	

	 	Grantee	 	 

8FORM OF WESTERN ALLIANCE INCENTIVE STOCK OPTION PL

 

Exhibit 10.4

WESTERN ALLIANCE BANCORPORATION INCENTIVE STOCK OPTION PLAN

GRANT OF INCENTIVE STOCK OPTION

Date of Grant:                                         , 2004

     THIS GRANT, dated as of the date of grant first stated above (the “Date of Grant”), is
delivered by WESTERN ALLIANCE BANCORPORATION, a Nevada banking corporation (“WESTERN ALLIANCE“) to
                                        (the “Grantee”), who is
an employee and/or officer of WESTERN ALLIANCE or one of its subsidiaries (the Grantee’s employer
is sometimes referred to herein as the “Employer”).

     WHEREAS, the Board of Directors of WESTERN ALLIANCE (the “Board”) on
March 19, 1997, adopted, with subsequent stockholder approval, THE WESTERN ALLIANCE BANCORPORATION
INCENTIVE STOCK OPTION PLAN (the “Plan”);

     WHEREAS, the Plan provides for the granting of incentive stock options by a committee to be
appointed by the Board (the “Committee”) to officers and other key employees of WESTERN ALLIANCE or
any subsidiary of WESTERN ALLIANCE (excluding all persons who are not employees of WESTERN
ALLIANCE) to purchase, or to exercise certain rights with respect
to,                     shares of the
Common Stock of WESTERN ALLIANCE, par value $.001 per share (the “Stock”), in accordance with the
terms and provisions thereof; and

     WHEREAS, the Committee considers the Grantee to be a person who is eligible for a grant of
incentive stock options under the Plan, and has determined that it would be in the best interest of
WESTERN ALLIANCE to grant the incentive stock options documented herein.

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     NOW, THEREFORE, the parties hereto, in consideration of the rights and obligations hereunder
and other good and valuable consideration, the receipt of which is hereby acknowledged, and
intending to be legally bound hereby, agree as follows:

I. GRANT OF OPTION

     Subject to the terms and conditions hereinafter set forth, WESTERN ALLIANCE, with the approval
and at the direction of the Committee, hereby grants to the Grantee, as of the Date of Grant, an
option to purchase up to
                                         shares of Stock at a price of $                     per
share, the fair market value. Such option is hereinafter referred to as the “Option” and the
shares of stock purchasable upon exercise of the Option are hereinafter sometimes referred to as
the “Option Shares”. The Option is intended by the parties hereto to be, and shall be treated as,
an incentive stock option (as such term is defined under Section 422 of the Internal Revenue Code
of 1986).

II. INSTALLMENT EXERCISE

     Subject to such further limitations as are provided herein, the Option shall become
exercisable in five (5) installments, the Grantee having the right hereunder to purchase from
WESTERN ALLIANCE the following number of Option Shares upon exercise of the Option, on and after
the following dates:

	 	(a)  	on and after the first anniversary of the Date of Grant, up to 20% (ignoring
fractional shares) of the total number of Option Shares;
	 
	 	(b)  	on and after the second anniversary of the Date of Grant, up to an additional 20%
of the total number of Option Shares; and
	 
	 	(c)  	on and after the third anniversary of the Date of Grant, up to an additional 20% of
the total number of Option Shares; and

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	 	(d)  	on and after the fifth anniversary of the Date of Grant, the remaining Option
Shares.

III. TERMINATION OF OPTION

     A. The Option and all rights hereunder with respect thereto, to the extent such rights
shall not have been exercised, shall terminate and become null and void after the expiration
of ten (10) years from the Date of Grant (the “Option Term”).

     B. Upon the occurrence of the Grantee’s ceasing for any reason to be employed by the
Employer (such occurrence being a “termination of the Grantee’s employment”), the Option, to
the extent not previously exercised, shall terminate and become null and void following the
expiration of ninety (90) days from the date of such termination of the Grantee’s
employment, except in a case where the termination of the Grantee’s employment is by reason
of retirement, disability or death. Upon a termination of the Grantee’s employment by
reason of retirement, disability or death, the Option may be exercised during the following
periods, but only to the extent that the Option was outstanding and exercisable on any such
date of retirement, disability or death: (i) the one-year period following the date of such
termination of the Grantee’s employment in the case of a disability [within the meaning of
Section 22 (e) (3) of the Code], (ii) the six-month period following the date of issuance of
letter testamentary or letters of administration to the executor or administrator of a
deceased Grantee, in the case of the Grantee’s death during his employment by the

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Employer, but not later than one year after the Grantee’s death, and (iii) the three-month
period following the date of such termination in the case of retirement on or after
attainment of age 65, or in the case of disability other than as described in (i) above. In
no event, however, shall any such period extend beyond the Option Term.

     C. In the event of the death of the Grantee, the Option may be exercised by the
Grantee’s legal representative(s), but only to the extent that the Option would otherwise
have been exercisable by the Grantee.

     D. A transfer of the Grantee’s employment between WESTERN ALLIANCE and any subsidiary
of WESTERN ALLIANCE, or between any subsidiaries of WESTERN ALLIANCE, shall not be deemed to
be a termination of the Grantee’s employment.

     E. Notwithstanding any other provisions set forth herein or in the Plan, if the Grantee
shall (i) commit any act of malfeasance or wrongdoing affecting WESTERN ALLIANCE or any
subsidiary of WESTERN ALLIANCE, (ii) breach any covenant not to compete, or employment
contract, with WESTERN ALLIANCE or any subsidiary of WESTERN ALLIANCE, or (iii) engage in
conduct that would warrant the Grantee’s discharge for cause (excluding general
dissatisfaction with the performance of the Grantee’s duties, but including any act of
disloyalty or any conduct clearly tending to bring discredit upon WESTERN ALLIANCE or any
subsidiary of WESTERN ALLIANCE), any unexercised portion of the Option shall immediately
terminate and be void.

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IV. EXERCISE OF OPTIONS

     A. The Grantee may exercise the Option with respect to all or any part of the number of
Option Shares then exercisable hereunder by giving the Secretary of WESTERN ALLIANCE written
notice of intent to exercise. The notice of exercise shall specify the number of Option
Shares as to which the Option is to be exercised and the date of exercise thereof, which
date shall be at least five days after the giving of such notice unless an earlier time
shall have been mutually agreed upon.

     B. Full payment (in U.S. dollars) by the Grantee of the option price for the Option
Shares purchased shall be made on or before the exercise date specified in the notice of
exercise in cash, or, with prior written consent of the Committee, in whole or in part
through the surrender of previously acquired shares of Stock at their fair market value on
the exercise date.

     On the exercise date specified in the Grantee’s notice or as soon thereafter as is
practicable, WESTERN ALLIANCE shall cause to be delivered to the Grantee, a certificate or
certificates for the Option Shares then being purchased (out of theretofore unissued Stock
or reacquired Stock, as WESTERN ALLIANCE may elect) upon full payment for such Option
Shares. The obligation of WESTERN ALLIANCE to deliver Stock shall, however, be subject to
the condition that if at any time the Committee shall determine in its discretion that the
listing, registration or qualification of the Option or the Option Shares upon any
securities exchange or under any state or federal law, or the consent or approval of any
governmental regulatory body, is necessary or desirable as a condition of, or in connection
with, the Option or the issuance or purchase of Stock thereunder, the Option may not be

5

 

exercised in whole or in part unless such listing, registration, qualification, consent or
approval shall have been effected or obtained free of any conditions not acceptable to the
Committee.

     C. If the Grantee fails to pay for any of the Option Shares specified in such notice or
fails to accept delivery thereof, the Grantee’s right to purchase such Option Shares may be
terminated by WESTERN ALLIANCE. The date specified in the Grantee’s notice as the date of
exercise shall be deemed the date of exercise of the Option, provided that payment in full
for the Option Shares to be purchased upon such exercise shall have been received by such
date.

V. ADJUSTMENT OF AND CHANGES IN STOCK OF WESTERN ALLIANCE

     In the event of a reorganization, recapitalization, change of shares, stock split, spin-off,
stock dividend, reclassification, subdivision or combination of shares, merger, consolidation,
rights offering, or any other change in the corporate structure or shares of capital stock of
WESTERN ALLIANCE, the Committee shall make such adjustment as it deems appropriate in the number
and kind of shares of Stock subject to the Option or in the option price; provided, however, that
no such adjustment shall give the Grantee any additional benefits under the Option.

VI. FAIR MARKET VALUE

     As used herein, the “fair market value” of a share of Stock shall be the average of the high
and low sale prices per share of Stock on any national stock exchange, composite tape or other
recognized market source, as determined by the Committee, on applicable date of reference
hereunder, or if there is no sale on such date, then the average of such high and low sale prices
on the

6

 

last previous day on which a sale is reported. In the absence of an established market of the type
described above for the Common Stock, the Fair Market Value thereof shall be determined by the
committee in good faith.

VII. NO RIGHTS OF STOCKHOLDERS

     During the Grantee’s lifetime, the Option hereunder shall be exercisable only by the Grantee
or any guardian or legal representative of the Grantee, and the Option shall not be transferable
except, in case of the death of the Grantee, by will or the laws of descent and distribution, nor
shall the Option be subject to attachment, execution or other similar process. In the event of (a)
any attempt by the Grantee to alienate, assign, pledge, hypothecate or otherwise dispose of the
Option, except as provided for herein, or (b) the levy of any attachment, execution or similar
process upon the rights or interest hereby conferred, WESTERN ALLIANCE may terminate the Option by
notice to the Grantee and it shall thereupon become null and void.

IX. EMPLOYMENT NOT AFFECTED

     The granting of the Option or its exercise shall not be construed as granting to the Grantee
any right with respect to continuance of employment of the Employer. Except as may otherwise be
limited by a written agreement between the Employer and the Grantee, the right of the Employer to
terminate at will the Grantee’s employment with it at any time (whether by dismissal, discharge,
retirement or otherwise) is specifically reserved by WESTERN ALLIANCE, as the Employer or on behalf
of the Employer (whichever the case may be), and acknowledged by the Grantee.

7

 

X. AMENDMENT OF OPTION

     The Option may be amended by the Board or the Committee at anytime (i) if the Board or the
Committee determines, in its sole discretion, that amendment is necessary or advisable in the light
of any addition to or change in the Internal Revenue Code of 1986 or in the regulations issued
thereunder, or any federal or state securities law or other law or regulation, which change occurs
after the Date of Grant and by its terms applies to the Option; or (ii) other than in the
circumstances described in clause (i), with the consent of the Grantee.

XI. NOTICE

     Any notice to WESTERN ALLIANCE provided for in this instrument shall be addressed to in care
of its Secretary at its executive office at 2700 West Sahara Avenue, Las Vegas, Nevada 89102, and
any notice to the Grantee shall be addressed to the Grantee at the current address shown on the
payroll records of the Employer. Any notice shall be deemed to be duly given if and when properly
addressed and posted by registered or certified mail, postage prepaid.

XII. INCORPORATION OF PLAN BY REFERENCE

     The Option is granted pursuant to the terms of the Plan, the terms of which are incorporated
herein by reference, and the Option shall in all respects be interpreted in accordance with the
Plan. The Committee shall interpret and construe the Plan and this instrument, and its
interpretations and determinations shall be conclusive and binding on the parties hereto and any
other person claiming an interested hereunder, with respect to any issue arising hereunder or
thereunder.

8

 

XIII. GOVERNING LAW

     The validity, construction, interpretation and effect of this instrument shall exclusively be
governed by and determined in accordance with the laws of the State of Nevada, except to the extent
preempted by federal law, which shall to such extent govern.

     IN WITNESS WHEREOF, WESTERN ALLIANCE has caused its duly authorized officers to execute and
attest this Grant of Incentive Stock Option, and to apply the corporate seal hereto, and the
Grantee has placed his or her signature hereon, effective as of the Date of Grant.

	 	 	 	 	 
	 	 	WESTERN ALLIANCE BANCORPORATION, a
	 	 	Nevada banking corporation
	 
	 	 	 	 
	

	 	By	 	 
	

	 	 	 	ROBERT SARVER, President
	 
	 	 	 	 
	

	 	By	 	 
	

	 	 	 	LINDA MAHAN, Assistant Secretary

	 	 	 	 	 
	ACCEPTED AND AGREED TO:
	 
	 	 	 	 
	By
	 	 	 	 
	

	 	Grantee	 	 

9

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