Ambac 1997 Equity Plan FORM OF STOCK OPTION AWARD AGREEMENTStock Option Award Agreement • March 15th, 2005 • Ambac Financial Group Inc • Surety insurance
This 2005 Stock Option Award Agreement (the “Award Agreement”) sets forth the terms and conditions of the stock options granted pursuant to the Plan. Annex A of this Award Agreement (“Annex A”) names the individual to whom the option is granted (the “Participant”) and sets forth the number of shares of common stock of the Company (“Common Stock”) subject to the option, the exercise price of such option, the date of grant and the expiration date of such option and the vesting schedule applicable thereto.
