EXHIBIT 6.6
MOUNTAIN BANK HOLDING COMPANY
EMPLOYEE INCENTIVE STOCK OPTION AGREEMENT
This Employee Incentive Stock Option Agreement ("Agreement") is entered into
by and between MOUNTAIN BANK HOLDING COMPANY, a Washington corporation (the
"Holding Company") and the Employee, named below.
1. Pursuant to Holding Company's Employee Stock Option Plan (the "Plan") and
subject to the terms of this Agreement, Holding Company hereby grants the
following irrevocable incentive stock option ("Option"):
Employee:_____________________________________________________________
Option Shares:____________________ Exercise Price:__________________
Date of Grant:____________________ Date of Termination:_____________
Vesting Schedule: This Option will become exercisable as to __________
Shares on each of the first ____ anniversary dates from the Date of
Grant.
2. Pursuant to this Option, the Employee has the option to purchase the stated
number of Option Shares of the common stock of Holding Company at the
Exercise Price, payable on the date of exercise. This Option is granted as
of the Date of Grant, and shall terminate on the Date of Termination unless
sooner terminated by reason of death, disability or other termination of
status as an employee as provided in the Plan.
3. This Option shall become exercisable according to the Vesting Schedule.
Option Shares as to which this Option becomes exercisable are called
"Vested Shares". This Option shall be exercisable as to Vested Shares in
whole or in part at any time between the Date of Grant and the Date of
Termination of this Option. Notwithstanding the foregoing, if the
Optionee's status as an employee with Holding Company terminates, then this
Option will cease to vest and will not become exercisable as to any
additional shares, as of the date on which the Optionee's employment
terminates. In such case, this Option will be limited to the Vested Shares
as of such date of the termination of employment.
4. This Option must be exercised by actual delivery to Holding Company of a
written notice of exercise signed by Employee specifying the number of
shares with respect to which this Option is being exercised and the
per-share Exercise Price, accompanied by payment of the full amount of the
Exercise Price for the number of shares being purchased.
5. All terms and conditions of the Plan are hereby incorporated by this
reference as a part of this Agreement, including but not limited to the
"Terms and Conditions of Options" provided in the
Plan. Holding Company reserves the right, without the consent of Employee,
to amend the Plan and/or this Agreement at any time prior to the exercise
of the Option granted hereunder to cause this Option to qualify as an
"incentive stock option" within the scope and meaning of Section 422 of
the Internal Revenue Code ("Code"), or any successor provision of the Code.
EMPLOYEE: MOUNTAIN BANK HOLDING COMPANY,
a Washington corporation
________________________________ By:________________________________
Print Name:_____________________ Title:_____________________________
I hereby acknowledge that I have received a copy of the Plan, incorporated by
reference above.
________________________________
Employee
EXHIBIT 6.6
MOUNTAIN BANK HOLDING COMPANY
EMPLOYEE NONQUALIFIED STOCK OPTION AGREEMENT
This Employee Nonqualified Stock Option Agreement ("Agreement") is entered into
by and between MOUNTAIN BANK HOLDING COMPANY, a Washington corporation (the
"Holding Company") and the Employee, named below.
1. Pursuant to Holding Company's Employee Stock Option Plan (the "Plan") and
subject to the terms of this Agreement, Holding Company hereby grants the
following irrevocable nonqualified stock option ("Option"):
Employee:_________________________________________________________________
Option Shares:__________________ Exercise Price:_________________________
Date of Grant:__________________ Date of Termination:____________________
Vesting Schedule: This Option will become exercisable as to __________
Shares on each of the first ____ anniversary dates from the Date of Grant.
2. Pursuant to this Option, the Employee has the option to purchase the stated
number of Option Shares of the common stock of Holding Company at the
Exercise Price, payable on the date of exercise. This Option is granted as
of the Date of Grant, and shall terminate on the Date of Termination unless
sooner terminated by reason of death, disability or other termination of
status as an employee as provided in the Plan.
3. This Option shall become exercisable according to the Vesting Schedule.
Option Shares as to which this Option becomes exercisable are called
"Vested Shares". This Option shall be exercisable as to Vested Shares in
whole or in part at any time between the Date of Grant and the Date of
Termination of this Option. Notwithstanding the foregoing, if the
Optionee's status as an employee with Holding Company terminates, then this
Option will cease to vest and will not become exercisable as to any
additional shares, as of the date on which the Optionee's employment
terminates. In such case, this Option will be limited to the Vested Shares
as of such date of the termination of employment.
4. This Option must be exercised by actual delivery to Holding Company of a
written notice of exercise signed by Employee specifying the number of
shares with respect to which this Option is being exercised and the
per-share Exercise Price, accompanied by payment of the full amount of the
Exercise Price for the number of shares being purchased.
5. All terms and conditions of the Plan are hereby incorporated by this
reference as a part of this Agreement, including but not limited to the
"Terms and Conditions of Options" provided in the Plan.
EMPLOYEE: MOUNTAIN BANK HOLDING COMPANY,
a Washington corporation
________________________________ By:________________________________
Print Name:_____________________ Title:_____________________________
I hereby acknowledge that I have received a copy of the Plan, incorporated by
reference above.
________________________________
Employee
