Form of Stock Option Agreement
Exhibit 10.13
Form of Stock Option Agreement
1. Grant of Options. (the “Optionee”) has been serving as a key employee of National R.V. Holdings, Inc. or of National R.V. Inc. or Country Coach Inc., wholly-owned subsidiaries of National R.V. Holdings, Inc. (collectively, the “Company”). As compensation for the Optionee’s services to the Company and to create an incentive to the Optionee in carrying out his duties, the Company hereby grants, as of the date hereof, (the “Grant Date”), to the Optionee, options (the “Options”) to purchase shares (the “Shares”) of Common Stock, $.01 par value, of the Company, subject to all the terms and conditions of this Stock Option Agreement (the “Agreement”) and the Company’s Stock Option Plan (the “Plan”) which is incorporated in its entirety herein. In the event of any inconsistency between the terms of this Agreement and the provisions of the Plan, the provisions of the Plan shall control. The Options granted hereby shall terminate and expire on the tenth anniversary of the Grant Date, or earlier upon termination of employment as described in the Plan. As many of the Options granted hereby as permitted under the Internal Revenue Code of 1986, as amended (the “Code”), shall be deemed Incentive Stock Options within the meaning of the Plan and the Code. The Company shall make the determination as to the number of Options, which shall be classified as Incentive Stock Options.
Incentive stock options (ISO) - nn,nnn Shares:
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Non-qualified stock options (NQ) - nn,nnn Shares:
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4. Transferability. These Options may only be transferred in accordance with the Plan.
low sales prices of the shares on such date on the principal national securities exchange (including on the New York Stock Exchange) on which such shares are listed or admitted to trading, or if such shares are not so listed, admitted to trading or quoted, the arithmetic mean of the per share closing bid price and per share closing asked price on such date as quoted on Nasdaq or such other market in which such prices are regularly quoted, or, if there have been no published bid or asked quotations with respect to shares on such date, the Fair Market Value shall be the value established by the Board of Directors in good faith. As promptly as practicable following receipt of the Notice and Exercise Price, the Company shall issue to the Optionee certificates representing the full number of Shares set forth in such Notice.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date set forth below.
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NATIONAL R.V. HOLDINGS, INC. |
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OPTIONEE |
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