Exhibit 10.15
AMCAST
INDUSTRIAL CORPORATION
AMENDED
DIRECTOR STOCK OPTION AGREEMENT
This Amended Director Stock Option Agreement amends and replaces that certain
Director Stock Option Agreement between the Company and the Optionee dated June
1,2001
Amcast Industrial Corporation, an Ohio corporation (the "Company"), hereby
grants, under
and pursuant to the Non-Qualified Director Stock Option Agreement between the
Optionee and the Company dated February 16, 2001 (the "Agreement"), of which is
attached hereto as Appendix A and is incorporated herein by this reference to
Xxxxx X. Xxxx
("Optionee")
Effective the 1st day of June ,2001 (the "date of grant"), for the purposes set
forth in the Plan, the right and option to purchase 250,000, Two Hundred and
Fifty Thousand Common Shares of the Company ("Shares") at the purchase price of
$8.80 per Share (the "Option").
The Option granted herein is granted subject to all the terms and conditions of
the Agreement, including, but not limited to, the following provisions:
1
The Option shall expire at the close of business five years after the date of
grant of the option shares unless sooner terminated or exercised pursuant to the
terms of the Plan;
2
Pursuant to the Agreement, the option shares shall vest and become exercisable
as follows: 85,000 shares shall vest and become exercisable June 1, 2001, an
additional 82,500 shares shall vest and become exercisable January 1, 2002, the
remaining 82,500 shares shall vest and become exercisable January 1, 2003,
3
Optionee shall forfeit all right and interest in any unvested option shares if
he is not employed by the Company on the vesting date,
4
The option may be exercised at any time up to three years following the date of
final vesting of the option shares subject to Section 6 (Exercise) of the
Agreement
5. The Option may not be transferred, assigned, pledged, or hypothecated by the
Optionee during his lifetime.
IN WITNESS WHEREOF, the Company has executed this Amended Option as of the 17th
day of August, 2001.
AMCAST INDUSTRIAL CORPORATION
By: /s/ Xxx X. Xxxxxxxx
Xxx X. Xxxxxxxx
Chairman of the Board
(CORPORATE SEAL)
/s/ Xxxxx X. Xxxx
Secretary
/s/ Xxxxx X. Xxxx
Xxxxx X. Xxxx
Optionee
