REGAL-BELOIT CORPORATION AGREEMENT FOR STOCK OPTION GRANT
EXHIBIT
10.9
REGAL-BELOIT
CORPORATION
AGREEMENT
FOR STOCK OPTION GRANT
Date
of
Grant:
Expiration
of Grant:
Employee:
GRANT
OF OPTION
Pursuant
to Section 9 of the REGAL-BELOIT CORPORATION 2003 Equity Incentive Plan, as
approved on April 22, 2003, REGAL-BELOIT (the “Company”) has granted to
______________________ (the “Grantee”), a key employee of the Company, a
Non-qualified Stock Option to purchase from the Company _____________ shares
of
$.01 par value common stock upon the terms and conditions set forth (the
Grant).
The
option price per share is ________, which is equal to the fair market value
closing stock price on ___________________, as reported by the New York Stock
Exchange. These shares may be paid for in cash, in shares of REGAL-BELOIT Common
Stock, or in any combination thereof.
The
right
to exercise this Grant does not become available until two (2) years from the
date of this Grant or ____________________. The Grant shall vest in _________
equal annual installments, specifically ________________________.
The
Grant
shall terminate the earlier of ten (10) years after the date of Grant or thirty
(30) days after the Grantee ceases to be an employee of the Company, unless
terminated for Cause as provided in Section 20 of the 2003 Stock Option
Plan.
Dated
this _ day of _____________________ 2005.
REGAL-BELOIT
CORPORATION
By:
__________________________
President/Chief
Executive
Officer
Confirmed:
By:
_________________________
Date:
________________________
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