SEC Contract Filing

Filing Date: 2017-03-13

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>2
<FILENAME>h10042130x1_ex10-2.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
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 <p class="h2" style="color: #000000; font-family: Times New Roman, Times, Serif; font-size: 13.33px; padding-left: 0px; text-indent: 0px; text-align: right; margin-right: 0px; margin-top: 16px; margin-bottom: 0px; "><b>Exhibit 10.2</b></p>
 <p class="h1" style="color: #000000; font-family: Times New Roman, Times, Serif; font-size: 13.33px; padding-left: 0px; text-indent: 0px; text-align: center; margin-right: 0px; margin-top: 16px; margin-bottom: 0px; "><b>NON-QUALIFIED STOCK OPTION AWARD AGREEMENT</b></p>
 <p class="h1" style="color: #000000; font-family: Times New Roman, Times, Serif; font-size: 13.33px; line-height: 14.67px; padding-left: 0px; text-indent: 0px; text-align: center; margin-right: 0px; margin-top: 16px; margin-bottom: 0px; "><b>TURNING POINT BRANDS, INC.<br /></b><b>2015 Equity Incentive Plan</b></p>
 <p class="para" style="color: #000000; font-family: Times New Roman, Times, Serif; font-size: 13.33px; line-height: 16px; padding-left: 0px; text-indent: 26.67px; text-align: justify; margin-right: 0px; margin-top: 8px; margin-bottom: 0px; ">This NON-QUALIFIED STOCK OPTION AWARD AGREEMENT (this &#147;<u>Agreement</u>&#148;), is made as of ____________________ (the &#147;<u>Grant Date</u>&#148;) between Turning Point Brands, Inc., a Delaware corporation (the &#147;<u>Company</u>&#148;), and _____________ (the &#147;<u>Participant</u>&#148;), and is made pursuant to the terms of the Company&#146;s 2015 Equity Incentive Plan (the &#147;<u>Plan</u>&#148;). Capitalized terms used herein but not defined shall have the meanings set forth in the Plan.</p>
 <p class="para" style="color: #000000; font-family: Times New Roman, Times, Serif; font-size: 13.33px; line-height: 16px; padding-left: 0px; text-indent: 26.67px; text-align: justify; margin-right: 0px; margin-top: 8px; margin-bottom: 0px; "><u>Section 1.</u>&nbsp;&nbsp;&nbsp;<u>Option</u>. The Company hereby grants to the Participant, as of the Grant Date, the right and option (this &#147;<u>Option</u>&#148;) to purchase <b>_____________</b> Shares, at a price per Share equal to $<b>___________</b> (the &#147;<u>Exercise </u><u>Price</u>&#148;), subject to such vesting, transfer and other restrictions and conditions as set forth in this Agreement. This Option is not intended to qualify as an Incentive Stock Option.</p>
 <p class="para" style="color: #000000; font-family: Times New Roman, Times, Serif; font-size: 13.33px; padding-left: 26.67px; text-indent: 0px; text-align: left; margin-right: 0px; margin-top: 8px; margin-bottom: 0px; "><u>Section 2.</u>&nbsp;&nbsp;&nbsp;<u>Vesting Requirements</u>.</p>
 <p class="para" style="color: #000000; font-family: Times New Roman, Times, Serif; font-size: 13.33px; line-height: 16px; padding-left: 0px; text-indent: 26.67px; text-align: justify; margin-right: 0px; margin-top: 8px; margin-bottom: 0px; ">(a)&nbsp;&nbsp;&nbsp;<u>Generally</u>. Except as otherwise provided herein, 50% of this Option shall be vested and exercisable as of the Grant Date, 25% shall vest and become exercisable on the first anniversary of the Grant Date, and the remaining 25% shall vest and become exercisable on the second anniversary of the Grant Date (each such date, a &#147;<u>Vesting </u><u>Date</u>&#148;) <b>[or alternate vesting schedule]</b>, subject to the Participant&#146;s continuous service or employment (&#147;<u>Service</u>&#148;) with the Company or its Affiliates from the Grant Date through the applicable Vesting Date.</p>
 <p class="para" style="color: #000000; font-family: Times New Roman, Times, Serif; font-size: 13.33px; line-height: 16px; padding-left: 0px; text-indent: 26.67px; text-align: justify; margin-right: 0px; margin-top: 8px; margin-bottom: 0px; ">(b)&nbsp;&nbsp;&nbsp;<u>Terminations of Service</u>. Upon the occurrence of a termination of the Participant&#146;s Service with the Company and its Affiliates, the unvested portion of this Option shall immediately be forfeited and cancelled, and the Participant shall not be entitled to any compensation or other amount with respect thereto.</p>
 <p class="para" style="color: #000000; font-family: Times New Roman, Times, Serif; font-size: 13.33px; padding-left: 26.67px; text-indent: 0px; text-align: left; margin-right: 0px; margin-top: 8px; margin-bottom: 0px; "><u>Section 3.</u>&nbsp;&nbsp;&nbsp;<u>Term</u>. This Option shall terminate upon the earliest to occur of the following:</p>
 <p class="para" style="color: #000000; font-family: Times New Roman, Times, Serif; font-size: 13.33px; line-height: 16px; padding-left: 0px; text-indent: 26.67px; text-align: justify; margin-right: 0px; margin-top: 8px; margin-bottom: 0px; ">(a)&nbsp;&nbsp;&nbsp;<u>Expiration</u>. This Option shall terminate immediately upon the _____ anniversary of the Grant Date (the &#147;<u>Expiration Date</u>&#148;).</p>
 <p class="para" style="color: #000000; font-family: Times New Roman, Times, Serif; font-size: 13.33px; line-height: 16px; padding-left: 0px; text-indent: 26.67px; text-align: justify; margin-right: 0px; margin-top: 8px; margin-bottom: 0px; ">(b)&nbsp;&nbsp;&nbsp;<u>Death; Disability</u>. If the Participant&#146;s Service with the Company and its Affiliates is terminated due to the Participant&#146;s death or Disability, then the vested portion of this Option shall remain exercisable for one year following such termination (at which time this Option shall be cancelled), but in no event later than the Expiration Date.</p>
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