STOCK AWARD AGREEMENT PURSUANT TO THE SUN BANCORP, INC. FOR NON-EMPLOYEE DIRECTORSStock Award Agreement • September 9th, 2011 • Sun Bancorp Inc /Nj/ • Commercial banks, nec
Stock Award. This Agreement shall constitute an award of common stock ("Stock Award") to ___________________ (“Participant”) related to continuation of services as a director with Sun Bancorp, Inc. (“Company”) and Sun National Bank (the “Bank”) for the period beginning as of ________________ (“Date of Grant”) in accordance with the terms and conditions set forth herein, as follows:
STOCK OPTION AWARD AGREEMENTStock Option Award Agreement • September 9th, 2011 • Sun Bancorp Inc /Nj/ • Commercial banks, nec
STOCK OPTIONS for a total of _______ shares of Common Stock of Sun Bancorp, Inc. (the “Company”), which Options are intended not to qualify as an “incentive stock option” under Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”), are hereby granted to ___________________ (the “Optionee”) at the price determined as provided in, and in all respects subject to the terms, definitions and provisions of the 2010 Stock-Based Incentive Plan (the “Plan”) adopted by the Company which is incorporated by reference herein, receipt of which is hereby acknowledged. Capitalized terms used herein but not otherwise defined herein shall have the meaning given to such terms in the Plan.
