SCBT FINANCIAL CORPORATION STOCK OPTION AGREEMENT
Exhibit
10.30
SCBT
FINANCIAL CORPORATION
THIS
AGREEMENT,
made
this___day of ___ 20XX, by and between SCBT
Financial Corporation
(“Corporation”), a South Carolina corporation with its principal offices located
in Columbia, South Carolina, and ______________________________
(“Participant”).
WITNESSETH:
WHEREAS,
the
Corporation has adopted the 2004 SCBT Financial Corporation Stock Incentive
Plan
(the “Plan”); and
WHEREAS,
the
Committee under the Plan has determined that the Participant shall be granted
certain options under the Plan.
NOW,
THEREFORE,
in
consideration of the foregoing and other good and valuable consideration,
the
receipt of which is hereby acknowledged, the parties hereto agree as
follows:
1. Grant
of Option.
The
Corporation hereby grants to the Participant an option (“Option”) to purchase
_____________ shares of the Common Stock of the Corporation, upon the terms
and
conditions set forth below and in the Plan. The date of such grant is
_________________. The Option shall be a Non-Qualified Stock
Option.
2. Option
Price.
The
Option shall be exercisable at a price of __________________ ($________)
per
share.
3. Terms
of Purchase.
Purchase
of any shares pursuant to the Participant’s exercise of the Option shall be made
in accordance with the provisions of the Plan.
4. Period
of Option.
The
Option shall be exercisable from the date hereof until the earlier of (i)
ten
(10) years from the date of grant of the Option, and (ii) in the event of
the
Participant’s death, upon the expiration of two (2) years from the date of
death.
5. Nontransferability.
The
Option is not transferable by the Participant, in whole or in part, to any
person, except by Will or by any applicable law of descent and distribution.
The
Option shall not be exercisable, in whole or in part, during the lifetime
of the
Participant by any person other than the Participant.
6. Construction.
This
Agreement shall be construed in accordance with the laws of the State of
South
Carolina.
7. Status
as Director.
Neither
this Agreement nor the Plan shall be construed to constitute an agreement
or
understanding, expressed or implied, on the part of the Corporation or any
subsidiary, that the Participant is entitled to continue to serve as a
director.
8. Withholding.
As a
condition to the issuance of shares pursuant to any exercise of this Option,
the
Participant authorizes the Corporation and its subsidiaries to withhold,
in
accordance with applicable law from any cash compensation payable to him,
any
taxes required to be withheld as a result of such exercise or later disposition
of stock.
9. Legal
Restrictions.
This
Option may not be exercised if the issuance of shares pursuant to such exercise
would constitute a violation of applicable federal or state securities or
other
law or regulation. The person exercising the Option, as a condition to such
exercise, shall represent to Corporation that the shares acquired thereby
are
being acquired for investment and not with a present view to distribution
or
resale, unless counsel for the Corporation is then of the opinion that such
representation is not required under the Securities Act of 1933 or any other
applicable law, regulation or rule of any governmental agency.
10. Binding
Effect.
This
Agreement shall be binding upon and inure to the benefit of the Participant
and
his heirs, and shall be binding upon the Corporation and its successors and
assigns.
11. Incorporation
of Plan.
This
Agreement is made pursuant to and is subject to the terms and conditions
of the
Plan, which terms and conditions are hereby incorporated by reference
herein.
IN
WITNESS WHEREOF,
the
Corporation, by its authorized representative, and the Participant do hereby
affix their signatures on the date first written above.
| ATTEST: |
SCBT
FINANCIAL CORPORATION
|
||
|
Corporate Secretary |
Name:
Xxxxxx X. Xxxx, Xx.
|
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|
Title: President
and Chief Executive Officer
|
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|
Participant |
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