SEC Contract Filing

Filing Date: 2015-02-26

Document Content:
<DOCUMENT>
<TYPE>EX-10.7(II)
<SEQUENCE>9
<FILENAME>ex107ii2014.htm
<DESCRIPTION>2008 STOCK INCENTIVE PLAN AMENDMENT-FORM OF ANNUAL STOCK OPTION AGREEMENT
<TEXT>
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 <title>Ex 10.7(ii) (2014)</title>
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<a name="s3E0F2288EE898E753EB39F332DC47227"></a><div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Exhibit 10.7(ii)</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">CLEARWATER PAPER CORPORATION</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">STOCK OPTION AGREEMENT</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">2008 STOCK INCENTIVE PLAN</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">THIS STOCK OPTION AGREEMENT is made and entered into the day specified in the attached Addendum by and between Clearwater Paper Corporation, a Delaware corporation (the &#8220;</font><font style="font-family:Arial;font-size:10pt;text-decoration:underline;">Corporation</font><font style="font-family:Arial;font-size:10pt;">&#8221;), and the Employee named in the attached Addendum (the &#8220;</font><font style="font-family:Arial;font-size:10pt;text-decoration:underline;">Employee</font><font style="font-family:Arial;font-size:10pt;">&#8221;). </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">W I T N E S S E T H:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">&#32;<br>&#160;&#160;&#160;&#160;That to encourage stock ownership by employees of the Corporation and for other valuable consideration, the parties agree as follows: </font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:justify;text-indent:48px;"><font style="padding-bottom:16px;text-align:justify;font-family:Arial;font-size:10pt;padding-right:48px;">1.</font><font style="font-family:Arial;font-size:10pt;text-decoration:underline;">Definitions</font><font style="font-family:Arial;font-size:10pt;">. In addition to the terms defined elsewhere in this Agreement, the following terms used in this Agreement shall have the meanings set forth in this Section 1. Capitalized terms not defined in this Agreement shall have the same definitions as in the Plan.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">(a)&#160;&#160;&#160;&#160;&#8220;</font><font style="font-family:Arial;font-size:10pt;text-decoration:underline;">Addendum</font><font style="font-family:Arial;font-size:10pt;">&#8221; means the attached Addendum.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">(b)&#160;&#160;&#160;&#160;&#8220;</font><font style="font-family:Arial;font-size:10pt;text-decoration:underline;">Cause</font><font style="font-family:Arial;font-size:10pt;">&#8221; means the occurrence of any one or more of the following: (i) the Employee&#8217;s conviction of any felony or any crime involving fraud, dishonesty or moral turpitude; (ii) the Employee&#8217;s participation in a fraud or act of dishonesty against the Corporation, its Subsidiaries or Affiliates or any successor to the Corporation that results in material harm to the business of the Corporation, its Subsidiaries or Affiliates or any successor to the Corporation; (iii) the Employee&#8217;s intentional, material violation of any contract between the Corporation, its Subsidiaries or Affiliates or any successor to the Corporation and the Employee, or any statutory duty the Employee owes the Corporation, its Affiliates or any successor to the Corporation, in either case that the Employee does not correct within 30 days after written notice thereof has been provided to the Employee, (iv) the commission of an act by the Employee that could (either alone or with other acts) be considered harassment or discrimination on the basis of gender, race, age, religion, sexual orientation or other protected category; or (v) the commission by the Employee of an alcohol or drug offense in violation of the Corporation&#8217;s, or a Subsidiary&#8217;s or an Affiliate&#8217;s Substance Abuse Policy for salaried employees.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">(c)&#160;&#160;&#160;&#160;&#8220;</font><font style="font-family:Arial;font-size:10pt;text-decoration:underline;">Date of Grant</font><font style="font-family:Arial;font-size:10pt;">&#8221; means the date on which the Committee determined to grant this Option, as specified in the Addendum.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">(d)&#160;&#160;&#160;&#160;&#8220;</font><font style="font-family:Arial;font-size:10pt;text-decoration:underline;">Disability</font><font style="fo