Document:

Form of the 2005 Incentive Award Plan - Stock Options

 Exhibit 10.2 
  
 AMBASSADORS INTERNATIONAL, INC. 
 2005 INCENTIVE AWARD PLAN 
  
 STOCK OPTION GRANT NOTICE AND 
 STOCK OPTION AGREEMENT 
  
 Ambassadors International, Inc., a Delaware corporation (the “Company”), pursuant to its 2005
Incentive Award Plan (the “Plan”), hereby grants to the holder listed below (“Participant”), an option to purchase the number of shares of the Company’s common stock, par value $0.01
(“Stock”), set forth below (the “Option”). This Option is subject to all of the terms and conditions set forth herein and in the Stock Option Agreement attached hereto as Exhibit A (the
“Stock Option Agreement”) and the Plan, which are incorporated herein by reference. Unless otherwise defined herein, the terms defined in the Plan shall have the same defined meanings in this Grant Notice and the Stock Option
Agreement. 
  

					
	 Participant:
	  	  

		
	 Grant Date:
	  	  

		
	 Exercise Price per Share:
	  	 $

		
	 Total Exercise Price:
	  	 $

		
	 Total Number of Shares
 Subject to the Option:
	  	 shares

		
	 Expiration Date:
	  	  

					
			
	 Type of Option:
	  	 ̈    Incentive Stock Option	    	     ̈    Non-Qualified Stock
Option

  
 Vesting Schedule: 

 
 By his or her signature, Participant agrees to be bound by the terms and
conditions of the Plan, the Stock Option Agreement and this Grant Notice. Participant has reviewed the Stock Option Agreement, the Plan and this Grant Notice in their entirety, has had an opportunity to obtain the advice of counsel prior to
executing this Grant Notice and fully understands all provisions of this Grant Notice, the Stock Option Agreement and the Plan. Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the
Administrator of the Plan upon any questions arising under the Plan or relating to the Option. 
  

							
	 AMBASSADORS INTERNATIONAL, INC.
	  	 PARTICIPANT

				
	 By:
	  	  

	  	 By:
	  	

				
	 Print Name:
	  	  

	  	 Print Name:
	  	

				
	 Title:
	  	  

	  	 	  	 
				
	 Address:
	  	 1071 Camelback Street
 Newport Beach, CA
92660
	  	Address:	  	  

  

 EXHIBIT A 
  

TO STOCK OPTION GRANT NOTICE 
  
 STOCK OPTION AGREEMENT 
  
 Pursuant to the Stock Option Grant Notice (the “Grant Notice”) to which this Stock Option Agreement (this
“Agreement”) is attached, Ambassadors International, Inc., a Delaware corporation (the “Company”), has granted to Participant an option under the Company’s 2005 Incentive Award Plan (the
“Plan”) to purchase the number of shares of Stock indicated in the Grant Notice. 
  
 ARTICLE I 
  
 GENERAL 
  
 1.1 Defined Terms. Capitalized
terms not specifically defined herein shall have the meanings specified in the Plan and the Grant Notice. 
  
 1.2 Incorporation of Terms of Plan. The Option is subject to the terms and conditions of the Plan which are incorporated herein by reference.

  
 ARTICLE II 
  
 GRANT OF OPTION 
  
 2.1 Grant of Option. In consideration of Participant’s past
and/or continued employment with or service to the Company or a Parent or Subsidiary and for other good and valuable consideration, effective as of the Grant Date set forth in the Grant Notice (the “Grant Date”), the Company
irrevocably grants to Participant the Option to purchase any part or all of an aggregate of the number of shares of Stock set forth in the Grant Notice, upon the terms and conditions set forth in the Plan and this Agreement. Unless designated as a
Non-Qualified Stock Option in the Grant Notice, the Option shall be an Incentive Stock Option to the maximum extent permitted by law. 
  
 2.2 Exercise Price. The exercise price of the shares of Stock subject to the Option shall be as set forth in the Grant Notice, without commission
or other charge; provided, however, that the price per share of the shares subject to the Option shall not be less than 100% of the Fair Market Value of a share of Stock on the Grant Date. Notwithstanding the foregoing, if this Option
is designated as an Incentive Stock Option and Participant owns (within the meaning of Section 424(d) of the Code) more than 10% of the total combined voting power of all classes of stock of the Company or any “subsidiary corporation”
of the Company or any “parent corporation” of the Company (each within the meaning of Section 424 of the Code), the price per share of the shares subject to the Option shall not be less than 110% of the Fair Market Value of a share of
Stock on the Grant Date. 
  
 2.3 Consideration to the
Company. In consideration of the grant of the Option by the Company, Participant agrees to render faithful and efficient services to the Company or any Parent or Subsidiary. Nothing in the Plan or this Agreement shall confer upon Participant any
right to continue in the employ or service of the Company or any Parent or Subsidiary or shall interfere with or restrict in any way the rights of the Company and its Parents and Subsidiaries, which rights are hereby expressly reserved, to discharge
or terminate the services of Participant at any time for any reason whatsoever, with or without Cause, except to the extent expressly provided otherwise in a written agreement between the Company, a Parent or a Subsidiary and Participant.

  

 A-1 

 ARTICLE III 
  
 PERIOD OF EXERCISABILITY 
  
 3.1 Commencement of Exercisability. 
  
 (a) Subject to Sections 3.3, 5.8 and 5.10, the Option shall become vested and exercisable in such amounts and at such times as are set forth in the Grant
Notice. 
  
 (b) No portion of the Option which has not become
vested and exercisable at the date of Participant’s Termination of Employment, Termination of Directorship or Termination of Consultancy shall thereafter become vested and exercisable, except as may be otherwise provided by the Administrator or
as set forth in a written agreement between the Company and Participant. 
  
 3.2 Duration of Exercisability. The installments provided for in the vesting schedule set forth in the Grant Notice are cumulative. Each such installment which becomes vested and exercisable pursuant to the
vesting schedule set forth in the Grant Notice shall remain vested and exercisable until it becomes unexercisable under Section 3.3. 
  
 3.3 Expiration of Option. The Option may not be exercised to any extent by anyone after the first to occur of the following events: 
  
 (a) The expiration of ten years from the Grant Date; 
  
 (b) If this Option is designated as an Incentive Stock Option and
Participant owned (within the meaning of Section 424(d) of the Code), at the time the Option was granted, more than 10% of the total combined voting power of all classes of stock of the Company or any “subsidiary corporation” of the
Company or any “parent corporation” of the Company (each within the meaning of Section 424 of the Code), the expiration of five years from the Grant Date; 
  
 (c) The expiration of three months from the date of Participant’s Termination of Employment, Termination of
Directorship or Termination of Consultancy, unless such termination occurs by reason of Participant’s death, Disability or Participant’s discharge for Cause; 
  
 (d) The expiration of one year from the date of Participant’s Termination of Employment, Termination of Directorship or
Termination of Consultancy by reason of Participant’s death or Disability; or 
  
 (e) The date of Participant’s Termination of Employment, Termination of Directorship or Termination of Consultancy by the Company or any Parent or Subsidiary by reason of Participant’s discharge for Cause.

  
 Participant acknowledges that an Incentive Stock Option
exercised more than three months after Participant’s Termination of Employment, other than by reason of death or Disability, will be taxed as a Non-Qualified Stock Option. 
  
 3.4 Special Tax Consequences. Participant acknowledges that, to the extent that the aggregate Fair Market Value
(determined as of the time the Option is granted) of all shares of Stock with respect to which Incentive Stock Options, including the Option, are exercisable for the first time by Participant in any calendar year exceeds $100,000, the Option and
such other options shall be Non-Qualified Stock Options to the extent necessary to comply with the limitations imposed by Section 422(d) 
  

 A-2 

 of the Code. Participant further acknowledges that the rule set forth in the preceding sentence shall be applied by
taking the Option and other “incentive stock options” into account in the order in which they were granted, as determined under Section 422(d) of the Code and the Treasury Regulations thereunder. 
  
 ARTICLE IV 
  
 EXERCISE OF OPTION 
  
 4.1 Person Eligible to Exercise. Except as provided in Sections 5.2(b)
and 5.2(c), during the lifetime of Participant, only Participant may exercise the Option or any portion thereof. After the death of Participant, any exercisable portion of the Option may, prior to the time when the Option becomes unexercisable under
Section 3.3, be exercised by Participant’s personal representative or by any person empowered to do so under the deceased Participant’s will or under the then applicable laws of descent and distribution. 
  
 4.2 Partial Exercise. Any exercisable portion of the Option or the
entire Option, if then wholly exercisable, may be exercised in whole or in part at any time prior to the time when the Option or portion thereof becomes unexercisable under Section 3.3. 
  
 4.3 Manner of Exercise. The Option, or any exercisable portion
thereof, may be exercised solely by delivery to the Secretary of the Company or the Secretary’s office of all of the following prior to the time when the Option or such portion thereof becomes unexercisable under Section 3.3: 

 
 (a) An Exercise Notice in writing signed by Participant or any other
person then entitled to exercise the Option or portion thereof, stating that the Option or portion thereof is thereby exercised, such notice complying with all applicable rules established by the Administrator. Such notice shall be substantially in
the form attached as Exhibit B to the Grant Notice (or such other form as is prescribed by the Administrator); 
  
 (b) The receipt by the Company of full payment for the shares with respect to which the Option or portion thereof is exercised, including payment of any
applicable withholding tax, which may be in one or more of the forms of consideration permitted under Section 4.4; 
  
 (c) A bona fide written representation and agreement, in such form as is prescribed by the Administrator, signed by Participant or the other person then
entitled to exercise such Option or portion thereof, stating that the shares of Stock are being acquired for Participant’s own account, for investment and without any present intention of distributing or reselling said shares or any of them
except as may be permitted under the Securities Act and then applicable rules and regulations thereunder and any other applicable law, and that Participant or other person then entitled to exercise such Option or portion thereof will indemnify the
Company against and hold it free and harmless from any loss, damage, expense or liability resulting to the Company if any sale or distribution of the shares by such person is contrary to the representation and agreement referred to above. The
Administrator may, in its absolute discretion, take whatever additional actions it deems appropriate to ensure the observance and performance of such representation and agreement and to effect compliance with the Securities Act and any other federal
or state securities laws or regulations and any other applicable law. Without limiting the generality of the foregoing, the Administrator may require an opinion of counsel acceptable to it to the effect that any subsequent transfer of shares
acquired on an Option exercise does not violate the Securities Act, and may issue stop-transfer orders covering such shares. Share certificates evidencing Stock issued on exercise of the Option shall bear an appropriate legend referring to the
provisions of this subsection (c) and the agreements herein. The written representation and agreement referred to in the first sentence of this subsection (c) shall, however, not be required if the shares to be issued pursuant to such
exercise have been registered under the Securities Act, and such registration is then effective in respect of such shares; and 
  

 A-3 

 (d) In the event the Option or portion thereof shall be exercised pursuant to Section 4.1 by any
person or persons other than Participant, appropriate proof of the right of such person or persons to exercise the Option. 
  
 4.4 Method of Payment. Payment of the exercise price shall be by any of the following, or a combination thereof, at the election of the
Participant: 
  
 (a) cash; 
  
 (b) check; 
  
 (c) with the consent of the Administrator, delivery of a notice that the Participant has placed a market sell order with a
broker with respect to shares of Stock then issuable upon exercise of the Option, and that the broker has been directed to pay a sufficient portion of the net proceeds of the sale to the Company in satisfaction of the aggregate exercise price;
provided, that payment of such proceeds is then made to the Company upon settlement of such sale; or 
  
 (d) with the consent of the Administrator, property of any kind which constitutes good and valuable consideration. 
  
 4.5 Conditions to Issuance of Stock Certificates. The shares of Stock
deliverable upon the exercise of the Option, or any portion thereof, may be either previously authorized but unissued shares or issued shares which have then been reacquired by the Company. Such shares shall be fully paid and nonassessable. The
Company shall not be required to issue or deliver any shares of Stock purchased upon the exercise of the Option or portion thereof prior to fulfillment of all of the following conditions: 
  
 (a) The admission of such shares to listing on all stock exchanges on which
such Stock is then listed; 
  
 (b) The completion of any
registration or other qualification of such shares under any state or federal law or under rulings or regulations of the Securities and Exchange Commission or of any other governmental regulatory body, which the Administrator shall, in its absolute
discretion, deem necessary or advisable; 
  
 (c) The obtaining of
any approval or other clearance from any state or federal governmental agency which the Administrator shall, in its absolute discretion, determine to be necessary or advisable; 
  
 (d) The receipt by the Company of full payment for such shares, including payment of any applicable withholding tax, which
may be in one or more of the forms of consideration permitted under Section 4.4; and 
  
 (e) The lapse of such reasonable period of time following the exercise of the Option as the Administrator may from time to time establish for reasons of administrative convenience. 
  
 4.6 Rights as Stockholder. The holder of the Option shall not be, nor
have any of the rights or privileges of, a stockholder of the Company in respect of any shares purchasable upon the exercise of any part of the Option unless and until such shares shall have been issued by the Company to such holder 

  

 A-4 

 
(as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company). No adjustment will be made for a
dividend or other right for which the record date is prior to the date the shares are issued, except as provided in Section 12.3 of the Plan. 
  
 ARTICLE V 
  
 OTHER PROVISIONS 
  
 5.1 Administration. The Administrator shall have the power to interpret the Plan and this Agreement and to adopt such rules for the administration, interpretation and application of the Plan as are consistent
therewith and to interpret, amend or revoke any such rules. All actions taken and all interpretations and determinations made by the Administrator in good faith shall be final and binding upon Participant, the Company and all other interested
persons. No member of the Administrator shall be personally liable for any action, determination or interpretation made in good faith with respect to the Plan, this Agreement or the Option. In its absolute discretion, the Board may at any time and
from time to time exercise any and all rights and duties of the Administrator under the Plan and this Agreement. 
  
 5.2 Option Not Transferable. 
  
 (a) Subject to Section 5.2(b), the Option may not be sold, pledged, assigned or transferred in any manner other than by will or the laws of descent
and distribution, unless and until the shares underlying the Option have been issued, and all restrictions applicable to such shares have lapsed. Neither the Option nor any interest or right therein shall be liable for the debts, contracts or
engagements of Participant or his or her successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by
operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be null and void and of no effect, except to the extent that such disposition
is permitted by the preceding sentence. 
  
 (b) Notwithstanding
any other provision in this Agreement, with the consent of the Administrator and to the extent the Option is not intended to qualify as an Incentive Stock Option, the Option may be transferred to one or more Permitted Transferees, subject to the
terms and conditions set forth in Section 12.1(b) of the Plan. 
  
 (c) Unless transferred to a Permitted Transferee in accordance with Section 5.2(b), during the lifetime of Participant, only Participant may exercise the Option or any portion thereof. Subject to such conditions and procedures as the
Administrator may require, a Permitted Transferee may exercise the Option or any portion thereof during Participant’s lifetime. After the death of Participant, any exercisable portion of the Option may, prior to the time when the Option becomes
unexercisable under Section 3.3, be exercised by Participant’s personal representative or by any person empowered to do so under the deceased Participant’s will or under the then applicable laws of descent and distribution.

  
 5.3 Restrictive Legends and Stop-Transfer Orders.

  
 (a) The share certificate or certificates evidencing the
shares of Stock purchased hereunder shall be endorsed with any legends that may be required by state or federal securities laws. 
  
 (b) Participant agrees that, in order to ensure compliance with the restrictions referred to herein, the Company may issue appropriate “stop
transfer” instructions to its transfer agent, if any, and that, if the Company transfers its own securities, it may make appropriate notations to the same effect in its own records. 
  

 A-5 

 (c) Company shall not be required: (i) to transfer on its books any shares of Stock that have been
sold or otherwise transferred in violation of any of the provisions of this Agreement, or (ii) to treat as owner of such shares of Stock or to accord the right to vote or pay dividends to any purchaser or other transferee to whom such shares
shall have been so transferred. 
  
 5.4 Shares to Be
Reserved. The Company shall at all times during the term of the Option reserve and keep available such number of shares of Stock as will be sufficient to satisfy the requirements of this Agreement. 
  
 5.5 Notices. Any notice to be given under the terms of this Agreement
to the Company shall be addressed to the Company in care of the Secretary of the Company at the address given beneath the signature of the Company’s authorized officer on the Grant Notice, and any notice to be given to Participant shall be
addressed to Participant at the address given beneath Participant’s signature on the Grant Notice. By a notice given pursuant to this Section 5.5, either party may hereafter designate a different address for notices to be given to that
party. Any notice which is required to be given to Participant shall, if Participant is then deceased, be given to the person entitled to exercise his or her Option pursuant to Section 4.1 by written notice under this Section 5.5. Any
notice shall be deemed duly given when sent via email or when sent by certified mail (return receipt requested) and deposited (with postage prepaid) in a post office or branch post office regularly maintained by the United States Postal Service.

  
 5.6 Titles. Titles are provided herein for convenience
only and are not to serve as a basis for interpretation or construction of this Agreement. 
  
 5.7 Stockholder Approval. The Plan will be submitted for approval by the Company’s stockholders within twelve months after the date the Plan was initially adopted by the Board. The Option may not be
exercised to any extent by anyone prior to the time when the Plan is approved by the stockholders, and if such approval has not been obtained by the end of said twelve month period, the Option shall thereupon be canceled and become null and void.

  
 5.8 Governing Law; Severability. This Agreement shall
be administered, interpreted and enforced under the laws of the State of Delaware, without regard to the conflicts of law principles thereof. Should any provision of this Agreement be determined by a court of law to be illegal or unenforceable, the
other provisions shall nevertheless remain effective and shall remain enforceable. 
  
 5.9 Conformity to Securities Laws. Participant acknowledges that the Plan is intended to conform to the extent necessary with all provisions of the Securities Act and the Exchange Act and any and all
regulations and rules promulgated by the Securities and Exchange Commission thereunder, and state securities laws and regulations. Notwithstanding anything herein to the contrary, the Plan shall be administered, and the Option is granted and may be
exercised, only in such a manner as to conform to such laws, rules and regulations. To the extent permitted by applicable law, the Plan and this Agreement shall be deemed amended to the extent necessary to conform to such laws, rules and
regulations. 
  
 5.10 Amendments. This Agreement may not be
modified, amended or terminated except by an instrument in writing, signed by Participant or such other person as may be permitted to exercise the Option pursuant to Section 4.1 and by a duly authorized representative of the Company.

  
 5.11 Successors and Assigns. The Company may assign any
of its rights under this Agreement to single or multiple assignees, and this Agreement shall inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer herein set forth in Section 5.2, this
Agreement shall be binding upon Participant and his or her heirs, executors, administrators, successors and assigns. 
  

 A-6 

 5.13 Notification of Disposition. If this Option is designated as an Incentive Stock Option,
Participant shall give prompt notice to the Company of any disposition or other transfer of any shares of Stock acquired under this Agreement if such disposition or transfer is made (a) within two years from the Grant Date with respect to such
shares or (b) within one year after the transfer of such shares to him. Such notice shall specify the date of such disposition or other transfer and the amount realized, in cash, other property, assumption of indebtedness or other
consideration, by Participant in such disposition or other transfer. 
  
 5.14 Limitations Applicable to Section 16 Persons. Notwithstanding any other provision of the Plan or this Agreement, if Participant is subject to Section 16 of the Exchange Act, the Plan, the Option and this Agreement
shall be subject to any additional limitations set forth in any applicable exemptive rule under Section 16 of the Exchange Act (including any amendment to Rule 16b-3 of the Exchange Act) that are requirements for the application of such
exemptive rule. To the extent permitted by applicable law, this Agreement shall be deemed amended to the extent necessary to conform to such applicable exemptive rule. 
  
 5.15 Entire Agreement. The Plan and this Agreement (including all Exhibits hereto) constitute the entire agreement of
the parties and supersede in their entirety all prior undertakings and agreements of the Company and Participant with respect to the subject matter hereof. 
  

 A-7 

 EXHIBIT B 
  

TO STOCK OPTION GRANT NOTICE 
  
 FORM OF EXERCISE NOTICE 
  
 Effective as of today,
                                     ,
20    , the undersigned (“Participant”) hereby elects to exercise Participant’s option to purchase the number of shares of common stock specified below (the
“Shares”) of Ambassadors International, Inc., a Delaware corporation (the “Company”), under and pursuant to the Ambassadors International, Inc. 2005 Incentive Award Plan (the
“Plan”) and the Stock Option Grant Notice and Stock Option Agreement dated as of (the “Option Agreement”). Capitalized terms used herein without definition shall have the meanings given in the Plan
and, if not defined in the Plan, the Option Agreement. 
  

					
	 Grant Date:
	  	

		
	 Number of Shares as to which Option is Exercised:
	  	

			
	 Exercise Price per Share:
	  	 $

	  	 
	 Total Exercise Price:
	  	 $

	  	 
		
	 Certificate to be issued in name of:
	  	

		
	 Payment delivered herewith:
	  	$                                     (Representing
the full exercise price for the Shares, as well as any applicable withholding tax)
		
	 	  	 Form of Payment:

	 	  	 (Please Specify)

					
			
	 Type of Option:
	  	 ̈    Incentive Stock Option	    	     ̈    Non-Qualified Stock
Option

  
 Participant
acknowledges that Participant has received, read and understood the Plan and the Option Agreement. Participant agrees to abide by and be bound by their terms and conditions. Participant understands that Participant may suffer adverse tax
consequences as a result of Participant’s purchase or disposition of the Shares. Participant represents that Participant has consulted with any tax consultants Participant deems advisable in connection with the purchase or disposition of the
Shares and that Participant is not relying on the Company for any tax advice. The Plan and Option Agreement are incorporated herein by reference. This Agreement, the Plan and the Option Agreement constitute the entire agreement of the parties and
supersede in their entirety all prior undertakings and agreements of the Company and Participant with respect to the subject matter hereof. 
  

							
	ACCEPTED BY:
AMBASSADORS INTERNATIONAL, INC.	  	SUBMITTED BY:
				
	 By:
	  	  

	  	 By:
	  	  

				
	 Print Name:
	  	  

	  	 Print Name:
	  	  

				
	 Title:
	  	  

	  	 Address:Form of the 2005 Incentive Award Plan - Restricted Stock Awards

 Exhibit 10.3 
  
 AMBASSADORS INTERNATIONAL, INC. 
 2005 INCENTIVE AWARD PLAN 
  
 RESTRICTED STOCK AWARD GRANT NOTICE AND 
 RESTRICTED STOCK AWARD AGREEMENT 
  
 Ambassadors International, Inc. (the “Company”),
pursuant to its 2005 Incentive Award Plan (the “Plan”), hereby grants to the individual listed below (“Holder”), the right to purchase the number of shares of the Company’s Common Stock set forth
below (the “Shares”) at the purchase price set forth below. This Restricted Stock award is subject to all of the terms and conditions as set forth herein and in the Restricted Stock Award Agreement attached hereto as
Exhibit A (the “Restricted Stock Agreement”) and the Plan, each of which are incorporated herein by reference. Unless otherwise defined herein, the terms defined in the Plan shall have the same defined meanings in this
Grant Notice and the Restricted Stock Agreement. 
  

					
	 Holder:
	  	

		
	 Grant Date:
	  	

		
	 Purchase Price per Share:
	  	 $

		
	 Total Number of Shares
 of Restricted Stock:
	  	 shares

		
	 Vesting Schedule:
	  	 

  
 By his or her
signature and the Company’s signature below, Holder agrees to be bound by the terms and conditions of the Plan, the Restricted Stock Agreement and this Grant Notice. Holder has reviewed the Restricted Stock Agreement, the Plan and this Grant
Notice in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Grant Notice and fully understands all provisions of this Grant Notice, the Restricted Stock Agreement and the Plan. Holder hereby agrees to
accept as binding, conclusive and final all decisions or interpretations of the Administrator of the Plan upon any questions arising under the Plan, this Grant Notice or the Restricted Stock Agreement. If Holder is married, his or her spouse has
signed the Consent of Spouse attached to this Grant Notice as Exhibit B. 
  

							
	 AMBASSADORS INTERNATIONAL, INC.
	  	 HOLDER

				
	 By:
	  	  

	  	 By:
	  	

	 Print Name:
	  	  

	  	 Print Name:
	  	  

	 Title:
	  	  

	  	 	  	 
	 Address:
	  	 1071 Camelback Street
 Newport Beach, CA
92660
	  	Address:	  	  

  

 EXHIBIT A 
 TO RESTRICTED STOCK AWARD GRANT NOTICE 
  
 RESTRICTED STOCK AWARD AGREEMENT 
  
 Pursuant to the Restricted Stock Award Grant Notice (“Grant Notice”) to which this Restricted Stock Award Agreement (this “Agreement”) is attached, Ambassadors
International, Inc. (the “Company”) has granted to Holder the right to purchase the number of shares of Restricted Stock under the Company’s 2005 Incentive Award Plan (the “Plan”) indicated in the
Grant Notice. 
  
 ARTICLE I 
 GENERAL 
  
 1.1 Defined Terms. Capitalized terms not specifically defined herein shall have the meanings specified in the Plan and the Grant Notice.

  
 1.2 Incorporation of Terms of Plan. The Shares are
subject to the terms and conditions of the Plan which are incorporated herein by reference. 
  
 ARTICLE II 
 GRANT OF RESTRICTED STOCK 
  
 2.1 Grant of Restricted Stock. In consideration of Holder’s past
and/or continued employment with or service to the Company or its Subsidiaries and for other good and valuable consideration, effective as of the Grant Date set forth in the Grant Notice (the “Grant Date”), the Company
irrevocably grants to Holder the right to purchase the number of shares of Common Stock set forth in the Grant Notice (the “Shares”), upon the terms and conditions set forth in the Plan and this Agreement. 
  
 2.2 Purchase Price. The purchase price of the Shares shall be as set
forth in the Grant Notice, without commission or other charge. The payment of the purchase price shall be paid by cash or check. 
  
 2.3 Issuance of Shares. The issuance of the Shares under this Agreement shall occur at the principal office of the Company simultaneously with the
execution of this Agreement by the parties or on such other date as the Company and Holder shall agree (the “Issuance Date”). Subject to the provisions of Article IV below, on the Issuance Date, the Company shall issue the
Shares (which shall be issued in Holder’s name). 
  
 2.4
Conditions to Issuance of Stock Certificates. The Shares, or any portion thereof, may be either previously authorized but unissued shares or issued shares which have been reacquired by the Company. Such Shares shall be fully paid and
nonassessable. The Company shall not be required to issue or deliver any Shares prior to fulfillment of all of the following conditions: 
  
 (a) The admission of such Shares to listing on all stock exchanges on which such Common Stock is then listed; 
  
 (b) The completion of any registration or other qualification of such shares
under any state or federal law or under rulings or regulations of the Securities and Exchange Commission or of any other governmental regulatory body, which the Administrator shall, in its absolute discretion, deem necessary or advisable;

  

 1 

 (c) The obtaining of any approval or other clearance from any state or federal governmental agency which
the Administrator shall, in its absolute discretion, determine to be necessary or advisable; 
  
 (d) The lapse of such reasonable period of time following the Issuance Date as the Administrator may from time to time establish for reasons of administrative convenience; and 
  
 (e) The receipt by the Company of full payment for such shares, including
payment of all amounts which, under federal, state or local tax law, the Company (or other employer corporation) is required to withhold upon issuance of such Shares. 
  
 2.5 Rights as Stockholder. Except as otherwise provided herein, upon delivery of the Shares to the escrow holder
pursuant to Article IV, Holder shall have all the rights of a stockholder with respect to said Shares, subject to the restrictions herein, including the right to vote the Shares and to receive all dividends or other distributions paid or made with
respect to the Shares. 
  
 2.6 Consideration to the
Company. In consideration of the issuance of the Shares by the Company, Holder agrees to render faithful and efficient services to the Company or any Parent or Subsidiary. Nothing in the Plan or this Agreement shall confer upon Holder any right
to continue in the employ or service of the Company or any Parent or Subsidiary or shall interfere with or restrict in any way the rights of the Company and its Parents and Subsidiaries, which rights are hereby expressly reserved, to discharge or
terminate the services of Holder at any time for any reason whatsoever, with or without Cause, except to the extent expressly provided otherwise in a written agreement between the Company, a Parent or a Subsidiary and Holder. 
  
 2.7 Assets or Securities Issued With Respect to Shares. Any and all
cash dividends paid on the Shares (or other securities at the time held in escrow pursuant to Section 4.1 and the Joint Escrow Instructions) and any and all shares of Stock, capital stock or other securities or other property received by or
distributed to Holder with respect to, in exchange for or in substitution of the Shares as a result of any stock dividend, stock split, reverse stock split, recapitalization, combination, reclassification, or similar change in the capital structure
of the Company shall also be subject to the Repurchase Option (as defined in Section 3.1 below) and the restrictions on transfer in Section 3.4 below until such restrictions on the underlying Shares lapse or are removed pursuant to this
Agreement (or, if such Shares are no longer outstanding, until such time as such Shares would have been released from the Company’s Repurchase Option pursuant to this Agreement). In addition, in the event of any merger, consolidation, share
exchange or reorganization affecting the Stock, including, without limitation, a Change of Control, then any new, substituted or additional securities or other property (including money paid other than as a regular cash dividend) that is by reason
of any such transaction received with respect to, in exchange for or in substitution of the Shares shall also be subject to the Repurchase Option (as defined in Section 3.1 below) and the restrictions on transfer in Section 3.4 below until
such restrictions on the underlying Shares lapse or are removed pursuant to this Agreement (or, if such Shares are no longer outstanding, until such time as such Shares would have been released from the Company’s Repurchase Option pursuant to
this Agreement). Any such assets or other securities received by or distributed to Holder with respect to, in exchange for or in substitution of any Unreleased Shares shall be immediately delivered to the Company to be held in escrow pursuant to
Section 4.1. 
  

 2 

 ARTICLE III 
 RESTRICTIONS ON SHARES 
  
 3.1 Repurchase Option. Subject to the provisions of Section 3.2 below, if Holder experiences a Termination of Employment, Termination of Directorship or Termination of Consultancy, as applicable, before all of the Shares are
released from the Company’s Repurchase Option (as defined below), the Company shall, upon the date of such termination (as reasonably fixed and determined by the Company), have an irrevocable, exclusive option, but not the obligation, for a
period of ninety (90) days after the date Holder experiences a Termination of Employment, Termination of Directorship or Termination of Consultancy, as applicable, to repurchase all or any portion of the Unreleased Shares (as defined below in
Section 3.3) at such time (the “Repurchase Option”) at the original cash purchase price per share (the “Repurchase Price”). The Repurchase Option shall lapse and terminate ninety
(90) days after Holder experiences a Termination of Employment, Termination of Directorship or Termination of Consultancy, as applicable. The Repurchase Option shall be exercisable by the Company by written notice to Holder or Holder’s
executor (with a copy to the escrow agent appointed pursuant to Section 4.1 below) and shall be exercisable, at the Company’s option, by delivery to Holder or Holder’s executor with such notice of a check in the amount of the
Repurchase Price times the number of Shares to be repurchased (the “Aggregate Repurchase Price”). Upon delivery of such notice and the payment of the Aggregate Repurchase Price, the Company shall become the
legal and beneficial owner of the Shares being repurchased and all rights and interests therein or relating thereto, and the Company shall have the right to retain and transfer to its own name the number of Shares being repurchased by the Company.
In the event the Company repurchases any Shares under this Section 3.1, any assets or securities received by or distributed to Holder with respect to, in exchange for or in substitution of such Shares and held by the escrow agent pursuant to
Section 4.1 and the Joint Escrow Instructions shall be promptly paid by the escrow agent to the Company. 
  
 3.2 Release of Shares from Repurchase Restriction. The Shares shall be released from the Company’s Repurchase Option in accordance with the
Vesting Schedule set forth on the Grant Notice. Any of the Shares released from the Company’s Repurchase Option shall thereupon be released from the restrictions on transfer under Section 3.4. 
  
 3.3 Unreleased Shares. Any of the Shares which, from time to time,
have not yet been released from the Company’s Repurchase Option are referred to herein as “Unreleased Shares.” 
  
 3.4 Restrictions on Transfer. 
  
 (a) Subject to Subsection 3.4(b), no Unreleased Shares or any interest or right therein or part thereof shall be liable for the debts, contracts or
engagements of Holder or his or her successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by
operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be null and void and of no effect. 
  
 (b) Notwithstanding any other provision in this Agreement, with the consent
of the Administrator, the Unreleased Shares may be transferred to certain persons or entities related to Holder, including but not limited to members of Holder’s family, charitable institutes or trusts or other entities whose beneficiaries or
beneficial owners are members of Holder’s family or to such other persons or entities as may be expressly approved by the Administrator (each a “Permitted Transferee”), pursuant to such conditions and procedures as the
Administrator may require. 
  

 3 

 ARTICLE IV 
 ESCROW OF SHARES 
  
 4.1
Escrow of Shares. To insure the availability for delivery of Holder’s Unreleased Shares upon repurchase by the Company pursuant to the Repurchase Option under Section 3.1, Holder hereby appoints the Secretary of the Company, or any
other person designated by the Administrator as escrow agent, as his or her attorney-in-fact to assign and transfer unto the Company, such Unreleased Shares, if any, repurchased by the Company pursuant to the Repurchase Option pursuant to
Section 3.1 and any dividends or other distributions thereon, and shall, upon execution of this Agreement, deliver and deposit with the Secretary of the Company, or such other person designated by the Administrator, any share certificates
representing the Unreleased Shares, together with the stock assignment duly endorsed in blank, attached to the Grant Notice as Exhibit C to the Grant Notice. The Unreleased Shares and stock assignment shall be held by the Secretary of the
Company, or such other person designated by the Administrator, in escrow, pursuant to the Joint Escrow Instructions of the Company and Holder attached as Exhibit D to the Grant Notice, until the Company exercises its Repurchase Option as
provided in Section 3.1, until such Unreleased Shares are released from the Company’s Repurchase Option, or until such time as this Agreement no longer is in effect. Upon release of the Unreleased Shares, the escrow agent shall deliver to
Holder the certificate or certificates representing such Shares in the escrow agent’s possession belonging to Holder in accordance with the terms of the Joint Escrow Instructions attached as Exhibit D to the Grant Notice, and the escrow
agent shall be discharged of all further obligations hereunder; provided, however, that the escrow agent shall nevertheless retain such certificate or certificates as escrow agent if so required pursuant to other restrictions imposed
pursuant to this Agreement. If the Shares are held in book entry form, then such entry will reflect that the Shares are subject to the restrictions of this Agreement. If any dividends or other distributions are paid on the Unreleased Shares held by
the escrow agent pursuant to this Section 4.1 and the Joint Escrow Instructions, such dividends or other distributions shall also be subject to the restrictions set forth in this Agreement and held in escrow pending release of the Unreleased
Shares with respect to which such dividends or other distributions were paid from the Company’s Repurchase Option. 
  
 4.2 Transfer of Repurchased Shares. Holder hereby authorizes and directs the Secretary of the Company, or such other person designated by the
Administrator, to transfer the Unreleased Shares as to which the Repurchase Option has been exercised from Holder to the Company. 
  
 4.3 No Liability for Actions in Connection with Escrow. The Company, or its designee, shall not be liable for any act it may do or omit to do with
respect to holding the Shares in escrow and while acting in good faith and in the exercise of its judgment. 
  
 ARTICLE V 
 OTHER PROVISIONS 
  
 5.1 Adjustment for Stock Split. In the event of any stock dividend,
stock split, reverse stock split, recapitalization, combination, reclassification, or similar change in the capital structure of the Company, the Administrator shall make appropriate and equitable adjustments in the Unreleased Shares subject to the
Repurchase Option and the number of Shares, consistent with any adjustment under Section 12.3 of the Plan. The provisions of this Agreement shall apply, to the full extent set forth herein with respect to the Shares, to any and all shares of
capital stock or other securities which may be issued in respect of, in exchange for, or in substitution of the Shares, and shall be appropriately adjusted for any stock dividends, splits, reverse splits, combinations, recapitalizations and the like
occurring after the date hereof. 
  

 4 

 5.2 Taxes. Holder has reviewed with Holder’s own tax advisors the federal, state, local and
foreign tax consequences of this investment and the transactions contemplated by the Grant Notice and this Agreement. Holder is relying solely on such advisors and not on any statements or representations of the Company or any of its agents. Holder
understands that Holder (and not the Company) shall be responsible for Holder’s own tax liability that may arise as a result of this investment or the transactions contemplated by this Agreement. Holder understands that Holder will recognize
ordinary income for federal income tax purposes under Section 83 of the Code. In this context, “restriction” includes the right of the Company to repurchase the Shares pursuant to its Repurchase Option set forth in Section 3.1.
Holder understands that Holder may elect to be taxed for federal income tax purposes at the time the Shares are purchased rather than as and when the Repurchase Option lapses by filing an election under Section 83(b) of the Code with the
Internal Revenue Service within thirty (30) days from the date of purchase. A form of election under Section 83(b) of the Code is attached to the Grant Notice as Exhibit E. 
  
 HOLDER ACKNOWLEDGES THAT IT IS HOLDER’S SOLE RESPONSIBILITY AND NOT THE
COMPANY’S TO TIMELY FILE THE ELECTION UNDER SECTION 83(B), EVEN IF HOLDER REQUESTS THE COMPANY OR ITS REPRESENTATIVES TO MAKE THIS FILING ON HOLDER’S BEHALF. 
  
 5.3 Limitations Applicable to Section 16 Persons. Notwithstanding any other provision of the Plan or this
Agreement, if Holder is subject to Section 16 of the Exchange Act, the Plan, the Shares and this Agreement shall be subject to any additional limitations set forth in any applicable exemptive rule under Section 16 of the Exchange Act
(including any amendment to Rule 16b-3 of the Exchange Act) that are requirements for the application of such exemptive rule. To the extent permitted by applicable law, this Agreement shall be deemed amended to the extent necessary to conform to
such applicable exemptive rule. 
  
 5.4 Administration. The
Administrator shall have the power to interpret the Plan and this Agreement and to adopt such rules for the administration, interpretation and application of the Plan as are consistent therewith and to interpret, amend or revoke any such rules. All
actions taken and all interpretations and determinations made by the Administrator in good faith shall be final and binding upon Holder, the Company and all other interested persons. No member of the Administrator shall be personally liable for any
action, determination or interpretation made in good faith with respect to the Plan, this Agreement or the Shares. In its absolute discretion, the Board may at any time and from time to time exercise any and all rights and duties of the
Administrator under the Plan and this Agreement. 
  
 5.5
Restrictive Legends and Stop-Transfer Orders. 
  
 (a) Any
share certificate(s) evidencing the Shares issued hereunder shall be endorsed with the following legend and any other legend required by any applicable federal and state securities laws: 
  
 THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A RIGHT OF REPURCHASE IN FAVOR OF THE COMPANY AND MAY BE
TRANSFERRED ONLY IN ACCORDANCE WITH THE TERMS OF A RESTRICTED STOCK AWARD AGREEMENT BETWEEN THE COMPANY AND THE STOCKHOLDER, A COPY OF WHICH IS ON FILE WITH THE SECRETARY OF THE COMPANY. 
  
 (b) Holder agrees that, in order to ensure compliance with the restrictions referred to herein, the Company may issue
appropriate “stop transfer” instructions to its transfer agent, if any, and that, if the Company transfers its own securities, it may make appropriate notations to the same effect in its own records. 
  

 5 

 (c) The Company shall not be required: (i) to transfer on its books any shares of Common Stock that
have been sold or otherwise transferred in violation of any of the provisions of this Agreement, or (ii) to treat as owner of such shares of Common Stock or to accord the right to vote or pay dividends to any purchaser or other transferee to
whom such shares shall have been so transferred. 
  
 5.6
Notices. Any notice to be given under the terms of this Agreement to the Company shall be addressed to the Company in care of the Secretary of the Company, and any notice to be given to Holder shall be addressed to Holder at the address given
beneath Holder’s signature on the Grant Notice. By a notice given pursuant to this Section 5.6, either party may hereafter designate a different address for notices to be given to that party. Any notice shall be deemed duly given when sent
via email or when sent by certified mail (return receipt requested) and deposited (with postage prepaid) in a post office or branch post office regularly maintained by the United States Postal Service. 
  
 5.7 Titles. Titles are provided herein for convenience only and are
not to serve as a basis for interpretation or construction of this Agreement. 
  
 5.8 Governing Law; Severability. This Agreement shall be administered, interpreted and enforced under the laws of the State of Delaware without regard to conflicts of laws thereof. Should any provision of this
Agreement be determined by a court of law to be illegal or unenforceable, the other provisions shall nevertheless remain effective and shall remain enforceable. 
  

5.9 Conformity to Securities Laws. Holder acknowledges that the Plan is intended to conform to the extent necessary with all provisions of the
Securities Act and the Exchange Act and any and all regulations and rules promulgated by the Securities and Exchange Commission thereunder, and state securities laws and regulations. Notwithstanding anything herein to the contrary, the Plan shall be
administered, and the Shares are to be issued, only in such a manner as to conform to such laws, rules and regulations. To the extent permitted by applicable law, the Plan and this Agreement shall be deemed amended to the extent necessary to conform
to such laws, rules and regulations. 
  
 5.10 Amendments.
This Agreement may not be modified, amended or terminated except by an instrument in writing, signed by Holder and by a duly authorized representative of the Company. 
  
 5.11 No Employment Rights. If Holder is an Employee, nothing in the Plan or this Agreement shall confer upon Holder
any right to continue in the employ of the Company or any Subsidiary or shall interfere with or restrict in any way the rights of the Company and its Subsidiaries, which are expressly reserved, to discharge Holder at any time for any reason
whatsoever, with or without cause, except to the extent expressly provided otherwise in a written agreement between the Company and Holder. 
  
 5.12 Successors and Assigns. The Company may assign any of its rights under this Agreement to single or multiple assignees, and this Agreement
shall inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer herein set forth, this Agreement shall be binding upon Holder and his or her heirs, executors, administrators, successors and assigns.

  

 6 

 EXHIBIT B 
 TO RESTRICTED STOCK AWARD GRANT NOTICE 
  
 CONSENT OF SPOUSE 
  
 I,                     , spouse of
                    , have read and approve the foregoing Agreement. In consideration of issuing to my spouse the shares of the common stock
of Ambassadors International, Inc. set forth in the Agreement, I hereby appoint my spouse as my attorney-in-fact in respect to the exercise of any rights under the Agreement and agree to be bound by the provisions of the Agreement insofar as I may
have any rights in said Agreement or any shares of the common stock of Ambassadors International, Inc. issued pursuant thereto under the community property laws or similar laws relating to marital property in effect in the state of our residence as
of the date of the signing of the foregoing Agreement. 
  
  

			
	 Dated:                     ,
        
	 	

	 	 	Signature of Spouse

 EXHIBIT C 
 TO RESTRICTED STOCK AWARD GRANT NOTICE 
  
 STOCK ASSIGNMENT 
  
 FOR VALUE RECEIVED, the undersigned,                     , hereby sells, assigns and transfers unto AMBASSADORS INTERNATIONAL, INC.,
a Delaware corporation,                      shares of the Common Stock of AMBASSADORS INTERNATIONAL, INC., a Delaware corporation, standing
in its name of the books of said corporation represented by Certificate No.                      herewith and do hereby irrevocably
constitute and appoint                      to transfer the said stock on the books of the within named corporation with full power of
substitution in the premises. 
  
 This Stock Assignment may be
used only in accordance with the Restricted Stock Award Agreement between AMBASSADORS INTERNATIONAL, INC. and the undersigned dated
                    . 
  

			
	 Dated:                     ,         
	 	 
		
	 	 	 
	 	 	

	 	 	[Name of Holder]

  
 INSTRUCTIONS: Please do not
fill in the blanks other than the signature line. The purpose of this assignment is to enable the Company to exercise its “Repurchase Option,” as set forth in the Restricted Stock Award Agreement, without requiring additional signatures on
the part of Holder. 

 EXHIBIT D 
 TO RESTRICTED STOCK AWARD GRANT NOTICE 
  
 JOINT ESCROW INSTRUCTIONS 
  

	 	

  
 Secretary 
 Ambassadors International, Inc. 
 1071
Camelback Street 
 Newport Beach, CA 92660 
  
 Ladies and Gentlemen: 
  
 As escrow agent (the “Escrow Agent”) for both Ambassadors International, Inc., a Delaware corporation (the
“Company”), and the undersigned recipient of stock of the Company (the “Holder”), you are hereby authorized and directed to hold in escrow the documents delivered to you pursuant to the terms of that
certain Restricted Stock Award Agreement (“Agreement”) between the Company and the undersigned (the “Escrow”), including the stock certificate and the Assignment in Blank, in accordance with the
following instructions: 
  
 1. In the event the Company and/or
any assignee of the Company (referred to collectively for convenience herein as the “Company”) exercises the Company’s Repurchase Option as defined in the Agreement), the Company shall give to Holder and you a written
notice specifying the number of shares of stock to be purchased, the purchase price and the time for a closing hereunder at the principal office of the Company. Holder and the Company hereby irrevocably authorize and direct you to close the
transaction contemplated by such notice in accordance with the terms of said notice. 
  
 2. As of the date of closing of the repurchase indicated in such notice, you are directed (a) to date the stock assignments necessary for the repurchase and transfer in question, (b) to fill in the number of
shares being repurchased and transferred, and (c) to deliver the same, together with the certificate evidencing the shares of stock to be repurchased and transferred, to the Company or its assignee. 
  
 3. Holder irrevocably authorizes the Company to deposit with you any
certificates evidencing shares of stock to be held by you hereunder and any additions and substitutions to said shares as defined in the Agreement. Holder does hereby irrevocably constitute and appoint you as Holder’s attorney-in-fact and agent
for the term of this escrow to execute with respect to such securities all documents necessary or appropriate to make such securities negotiable and to complete any transaction herein contemplated, including but not limited to the filing with any
applicable state blue sky authority of any required applications for consent to, or notice of transfer of, the securities. Subject to the provisions of this paragraph 3 and the Agreement, Holder shall exercise all rights and privileges of a
stockholder of the Company while the stock is held by you. 
  
 4.
Upon written request of Holder, but no more than once per calendar month, unless the Company’s Repurchase Option has been exercised, you will deliver to Holder a certificate or certificates representing so many shares of stock as are not then
subject to the Repurchase Option. Within one hundred twenty (120) days after any voluntary or involuntary termination of Holder’s services to the Company for any or no reason, you will deliver to Holder a certificate or certificates
representing the aggregate number of shares held or issued pursuant to the Agreement and not repurchased pursuant to the Repurchase Option set forth in Section 3.1 of the Agreement. 
  

 1 

 5. If at the time of termination of this escrow you should have in your possession any documents,
securities, or other property belonging to Holder, you shall deliver all of the same to Holder and shall be discharged of all further obligations hereunder. 
  
 6. Your duties hereunder may be altered, amended, modified or revoked only by a writing signed by all of the parties hereto. 
  
 7. You shall be obligated only for the performance of such duties as are
specifically set forth herein and may rely and shall be protected in relying or refraining from acting on any instrument reasonably believed by you to be genuine and to have been signed or presented by the proper party or parties. You shall not be
personally liable for any act you may do or omit to do hereunder as Escrow Agent or as attorney-in-fact for Holder while acting in good faith, and any act done or omitted by you pursuant to the advice of your own attorneys shall be conclusive
evidence of such good faith. 
  
 8. You are hereby expressly
authorized to disregard any and all warnings given by any of the parties hereto or by any other person or corporation, excepting only orders or process of courts of law and are hereby expressly authorized to comply with and obey orders, judgments or
decrees of any court. In case you obey or comply with any such order, judgment or decree, you shall not be liable to any of the parties hereto or to any other person, firm or corporation by reason of such compliance, notwithstanding any such order,
judgment or decree being subsequently reversed, modified, annulled, set aside, vacated or found to have been entered without jurisdiction. 
  
 9. You shall not be liable in any respect on account of the identity, authorities or rights of the parties executing or delivering or purporting to
execute or deliver the Agreement or any documents or papers deposited or called for hereunder. 
  
 10. You shall not be liable for the expiration of any rights under any applicable state, federal or local statute of limitations or similar statute or regulation with respect to these Joint Escrow Instructions or any
documents deposited with you. 
  
 11. You shall be entitled to
employ such legal counsel and other experts as you may deem necessary properly to advise you in connection with your obligations hereunder, may rely upon the advice of such counsel, and may pay such counsel reasonable compensation therefor. The
Company will reimburse you for any reasonable attorneys’ fees with respect thereto. 
  
 12. Your responsibilities as Escrow Agent hereunder shall terminate if you shall cease to be an officer or agent of the Company or if you shall resign by written notice to each party. In the event of any such
termination, the Company shall appoint a successor Escrow Agent. 
  
 13. If you reasonably require other or further instruments in connection with these Joint Escrow Instructions or obligations in respect hereto, the necessary parties hereto shall join in furnishing such instruments. 
  
 14. It is understood and agreed that should any dispute arise with respect to
the delivery and/or ownership or right of possession of the securities held by you hereunder, you are authorized and directed to retain in your possession without liability to anyone all or any part of said securities until such disputes shall have
been settled either by mutual written agreement of the parties concerned or by a final order, decree or judgment of a court of competent jurisdiction after the time for appeal has expired and no appeal has been perfected, but you shall be under no
duty whatsoever to institute or defend any such proceedings. 
  

 2 

 15. Any notice to be given under the terms of this Agreement to the Company shall be addressed to the
Company in care of the Secretary of the Company, and any notice to be given to Holder or you shall be addressed to the address given beneath Holder’s and your signatures on the signature page to this Agreement. By a notice given pursuant to
this Section 15, any party may hereafter designate a different address for notices to be given to that party. Any notice which is required to be given to Holder shall, if Holder is then deceased, be given to Holder’s designated
beneficiary, if any by written notice under this Section 15. Any notice shall be deemed duly given when sent via email or when sent by certified mail (return receipt requested) and deposited (with postage prepaid) in a post office or branch
post office regularly obtained by the United States Postal Service. 
  
 16. By signing these Joint Escrow Instructions, you become a party hereto only for the purpose of said Joint Escrow Instructions; you do not become a party to the Agreement. 
  
 17. This instrument shall be binding upon and inure to the benefit of the parties hereto, and their respective successors
and permitted assigns. 
  
 18. These Joint Escrow Instructions
shall be governed by, and construed and enforced in accordance with, the laws of the State of Delaware, without regard to conflicts of law thereof. 
  
 IN WITNESS WHEREOF, the parties have executed these Joint Escrow Instructions as of the date first written above. 
  

			
	 AMBASSADORS INTERNATIONAL, INC.

		
	 By:
	 	 
	 	 	

	 Name:
	 	 
	 Title:
	 	 
		
	 Address:
	 	                 1071 Camelback Street

	 	 	                 Newport Beach, CA
92660

		
	 HOLDER:
	 	 
	
	

	 [Name of Holder]

		
	 Address:
	 	 
	 	 	

		
	 	 	

  
 ESCROW AGENT: 
  

			
	 By:
	 	 
	 	 	

	 	 	 Secretary, Ambassadors International, Inc.

		
	 Address:
	 	                 1071 Camelback Street

	 	 	                 Newport Beach, CA
92660

  

 3 

 EXHIBIT E 
 TO RESTRICTED STOCK AWARD GRANT NOTICE 
  
 FORM OF 83(B) ELECTION AND INSTRUCTIONS 
  
 These instructions are provided to assist you if you choose to make an election under Section 83(b) of the Internal Revenue Code, as amended, with respect to the shares of common stock, par value $0.01, of Ambassadors International,
Inc. transferred to you. Please consult with your personal tax advisor as to whether an election of this nature will be in your best interests in light of your personal tax situation. 
  
 The executed original of the Section 83(b) election must be filed with the Internal
Revenue Service not later than 30 days after the date the shares were transferred to you. PLEASE NOTE: There is no remedy for failure to file on time. The steps outlined below should be followed to ensure the election is mailed and filed correctly
and in a timely manner. ALSO, PLEASE NOTE: If you make the Section 83(b) election, the election is irrevocable. 
  

	1.	Complete Section 83(b) election form (attached as Attachment 1) and make four (4) copies of the signed election form. (Your spouse, if any, should sign the
Section 83(b) election form as well.) 

  

	2.	Prepare the cover letter to the Internal Revenue Service (sample letter attached as Attachment 2). 

  

	3.	Send the cover letter with the originally executed Section 83(b) election form and one (1) copy via certified mail, return receipt requested to the Internal Revenue
Service at the address of the Internal Revenue Service where you file your personal tax returns. We suggest that you have the package date-stamped at the post office. The post office will provide you with a white certified receipt that includes a
dated postmark. Enclose a self-addressed, stamped envelope so that the Internal Revenue Service may return a date-stamped copy to you. However, your postmarked receipt is your proof of having timely filed the Section 83(b) election if you do
not receive confirmation from the Internal Revenue Service. 

  

	4.	One (1) copy must be sent to Ambassadors International, Inc. for its records and one (1) copy must be attached to your federal income tax return for the applicable
calendar year. 

  

	5.	Retain the Internal Revenue Service file stamped copy (when returned) for your records. 

  
 Please consult your personal tax advisor for the address of the office of the Internal Revenue Service to which you should mail your
election form. 
  

 1 

 ATTACHMENT 1 TO EXHIBIT E 
  
 ELECTION UNDER INTERNAL REVENUE CODE SECTION 83(B) 
  
 The undersigned taxpayer hereby elects, pursuant to Section 83(b) of the
Internal Revenue Code of 1986, as amended, to include in taxpayer’s gross income for the current taxable year the amount of any compensation taxable to taxpayer in connection with taxpayer’s receipt of shares (the
“Shares”) of Common Stock, par value $0.01 per share, of Ambassadors International, Inc., a Delaware corporation (the “Company”). 
  

	1.	The name, address and taxpayer identification number of the undersigned taxpayer are: 

  

					
		
	 	 	

		
	 	 	

		
	 	 	

			
	 	 	 SSN:
	 	 
	 	 	 	 	

  
 The name, address and
taxpayer identification number of the Taxpayer’s spouse are (complete if applicable): 
  

					
		
	 	 	

		
	 	 	

		
	 	 	

			
	 	 	 SSN:
	 	 
	 	 	 	 	

  

	2.	Description of the property with respect to which the election is being made: 

  

                     shares of Common Stock,
par value $0.01 per share, of the Company. 
  

	3.	The date on which the property was transferred was                     .

  

	4.	The taxable year to which this election relates is calendar year
                    . 

  

	5.	Nature of restrictions to which the property is subject: 

  
 The Shares are subject to repurchase at their original purchase price if unvested as of the date of termination of employment, directorship or consultancy
with the Company. 
  

	6.	The fair market value at the time of transfer (determined without regard to any lapse restrictions, as defined in Treasury 

	Regulation	Section 1.83-3(a)) of the Shares was $             per Share. 

  

	7.	The amount paid by the taxpayer for Shares was $             per share. 

  

	8.	A copy of this statement has been furnished to the Company. 

  

	Dated:	                    ,
200                                Taxpayer Signature
                                        
             

  
 The undersigned spouse of Taxpayer joins in this election. (Complete if applicable). 
  

	Dated:	                    ,
200                                Spouse’s Signature
                                        
             

  

 2 

 ATTACHMENT 2 TO EXHIBIT E 
  
 SAMPLE COVER LETTER TO INTERNAL REVENUE SERVICE 
  
 [Date] 
  
 VIA CERTIFIED MAIL 
 RETURN RECEIPT REQUESTED

  
 Internal Revenue Service 
 [Address where taxpayer files returns] 
  

			
	 Re:
	  	 Election under Section 83(b) of the Internal Revenue Code of 1986

	 	  	 Taxpayer:
                                        
                                        
                        

	 	  	 Taxpayer’s Social Security Number:
                                        
                      

	 	  	 Taxpayer’s Spouse:
                                        
                                        
        

	 	  	 Taxpayer’s Spouse’s Social Security Number:
                                        
       

  
 Ladies and Gentlemen: 
  
 Enclosed please find an
original and one copy of an Election under Section 83(b) of the Internal Revenue Code of 1986, as amended, being made by the taxpayer referenced above. Please acknowledge receipt of the enclosed materials by stamping the enclosed copy of the
Election and returning it to me in the self-addressed stamped envelope provided herewith. 
  

	
	 Very truly yours,

	
	 
	 

  
 Enclosures 

	cc:	Ambassadors International, Inc. 

  

 1

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