FIRST NORTHERN COMMUNITY BANCORPStock Option Agreement • March 29th, 2010 • First Northern Community Bancorp • Savings institution, federally chartered
Tax Treatment This Option is intended to be an incentive stock option under Section 422 of the Internal Revenue Code or a nonstatutory option, as provided in the Notice of Stock Option Grant. Even if this Option is designated as an incentive stock option, it shall be deemed to be a nonstatutory option to the extent required by the $100,000 annual limitation under Section 422(d) of the Internal Revenue Code. Vesting This Option becomes exercisable in installments, as shown in the Notice of Stock Option Grant. Term This Option expires in any event at the close of business at Company headquarters on the day before the 10th anniversary of the Grant Date, as shown on the Notice of Stock Option Grant (fifth anniversary for a more than 10% stockholder as provided under the Plan if this is an incentive stock option). This Option may expire earlier if your Service terminates, as described below. Regular Termination If your Service terminates for any reason except death, Total and Permanent Disa
FIRST NORTHERN COMMUNITY BANCORPFirst Northern Community Bancorp • March 29th, 2010 • Savings institution, federally chartered • California
