CHITTENDEN CORPORATION AMENDED & RESTATED DIRECTORS’ OMNIBUS LONG-TERM INCENTIVE PLAN NON-EMPLOYEE DIRECTOR STOCK OPTION AGREEMENTStock Option Agreement • November 4th, 2004 • Chittenden Corp /Vt/ • State commercial banks
THIS STOCK OPTION (“Option”) for a total of shares (“Shares”) of Common Stock, par value $1.00 per share (the “Common Stock”) of CHITTENDEN CORPORATION, a Vermont business corporation (the “Company”) is 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 Amended & Restated Directors’ Omnibus Long-term Incentive Plan (the “Plan”), Section VII(A), adopted by the Company which is incorporated by reference herein.
