STOCK OPTION AGREEMENT
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FOR INCENTIVE STOCK OPTIONS UNDER SECTION 422
OF THE INTERNAL REVENUE CODE
PURSUANT TO THE
ROEBLING FINANCIAL CORP, INC.
1999 STOCK OPTION PLAN
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FOR OFFICERS AND EMPLOYEES
STOCK OPTIONS for a total of ________ shares of Common Stock of
Roebling Financial Corp, Inc. (the "Company"), which Option is intended to
qualify as an Incentive Stock Option under Section 422 of the Internal Revenue
Code of 1986, as amended, 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 1999 Stock Option Plan (the "Plan") adopted by
the Company which is incorporated by reference herein, receipt of which is
hereby acknowledged.
1. Option Price. The Option price is $_______ for each Share, being
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100% of the fair market value, as determined by the Committee, of the Common
Stock on the date of grant of this Option.
2. Exercises of Option. This Option shall be exercisable in accordance
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with provisions of the Plan, provided the holder of such Option is an employee,
director or director emeritus of Roebling Bank (the "Bank") or the Company as of
such date, as follows:
(a) Schedule of Rights to Exercise.
Percentage of Total
Shares
Awarded Which Are
Exercisable/
Date Options Non-forfeitable
---- ------- ---------------
Upon grant.................... _____ 50%
As of January 25, 2000........ _____ 100%
Options awarded to the Optionee shall continue to vest annually during
such period that he serves as an employee, director or director emeritus of the
Bank or the Company. Notwithstanding any provisions in this Section 2, in no
event shall this Option be exercisable prior to six months following the date of
grant. Options shall be 100% vested and exercisable upon the death or disability
of the Optionee, or upon a Change in Control of the Bank or the Company, subject
to limitations under applicable regulations and policies of the Office of Thrift
Supervision.
(b) Method of Exercise. This Option shall be exercisable
by a written notice which shall:
(i) State the election to exercise the Option, the number of
Shares with respect to which it is being exercised, the person in whose
name the stock certificate or certificates for such Shares of Common
Stock is to be registered, his address and Social Security Number (or
if more than one, the names, addresses and Social Security Numbers of
such persons);
(ii) Contain such representations and agreements as to the
holder's investment intent with respect to such shares of Common Stock
as may be satisfactory to the Company's counsel;
(iii) Be signed by the person or persons entitled to exercise
the Option and, if the Option is being exercised by any person or
persons other than the Optionee, be accompanied by proof, satisfactory
to counsel for the Company, of the right of such person or persons to
exercise the Option; and
(iv) Be in writing and delivered in person or by certified
mail to the Treasurer of the Company.
Payment of the purchase price of any Shares with respect to which the
Option is being exercised shall be by certified or bank cashier's or teller's
check. The certificate or certificates for shares of Common Stock as to which
the Option shall be exercised shall be registered in the name of the person or
persons exercising the Option.
(c) Restrictions on Exercise. This Option may not be exercised
if the issuance of the Shares upon such exercise would constitute a violation of
any applicable federal or state securities or other law or valid regulation. As
a condition to the Optionee's exercise of this Option, the Bank may require the
person exercising this Option to make any representation and warranty to the
Company as may be required by any applicable law or regulation.
3. Non-transferability of Option. This Option may not be transferred in
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any manner otherwise than by will or the laws of descent or distribution and may
be exercised during the lifetime of the Optionee only by the Optionee. The terms
of this Option shall be binding upon the executors, administrators, heirs,
successors and assigns of the Optionee.
2
4. Term of Option. This Option may not be exercised more than ten (10)
--------------
years from the date of grant of this Option, as set forth below, and may be
exercised during such term only in accordance with the Plan and the terms of
this Option.
5. Related Matters. Notwithstanding anything herein to the contrary,
----------------
additional conditions or restrictions related to such Options may be contained
in the Plan or the resolutions of the Plan Committee authorizing such grant of
Options.
Roebling Financial Corp, Inc.
Date of Grant: By:
----------------------- ------------------------------
Attest:
[SEAL]
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INCENTIVE STOCK OPTION EXERCISE FORM
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PURSUANT TO THE
Roebling Financial Corp, Inc.
1999 STOCK OPTION PLAN
(Date)
Roebling Financial Corp, Inc.
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▇▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇
Dear Sir:
The undersigned elects to exercise the Incentive Stock Option to
purchase __________ shares of Common Stock of Roebling Financial Corp, Inc.
under and pursuant to a Stock Option Agreement dated ________________.
Delivered herewith is a certified or bank cashier's or teller's check
and/or shares of Common Stock, valued at the fair market value of the stock on
the date of exercise, as set forth below.
$ of cash or check
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of Common Stock
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$ Total
==========
The name or names to be on the stock certificate or certificates and
the address and Social Security Number of such person(s) is as follows:
Name
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Address
----------------------------------------------------------------
Social Security Number
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Very truly yours,
STOCK OPTION AGREEMENT
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FOR NON-INCENTIVE STOCK OPTIONS
PURSUANT TO THE
Roebling Financial Corp, Inc.
1999 STOCK OPTION PLAN
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NON-EMPLOYEE DIRECTORS
STOCK OPTIONS for a total of __________ shares of Common Stock of
Roebling Financial Corp, Inc. (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 1999 Stock Option Plan
(the "Plan") adopted by the Company which is incorporated by reference herein,
receipt of which is hereby acknowledged. Such Stock Options do not comply with
---
Options granted under Section 422 of the Internal Revenue Code of 1986, as
amended.
1. Option Price. The Option price is $_________ for each Share, being
------------
100% of the fair market value, as determined by the Committee, of the Common
Stock on the date of grant of this Option.
2. Exercise of Option. This Option shall be exercisable in accordance
------------------
with provisions of the Plan as follows:
(a) Schedule of Rights to Exercise.
Percentage of Total Shares
Awarded Which Are
Date Options Non-forfeitable
---- ------- ---------------
Upon grant............. _______ 100%
Options shall continue to vest annually provided that such holder
remains a director or director emeritus of the Bank or the Company.
Notwithstanding any provisions in this Section 2, in no event shall this Option
be exercisable prior to six months following the date of grant. Options shall be
100% vested and exercisable upon the death or disability of the Optionee, or
upon a Change in Control of Roebling Bank (the "Bank") or the Company, subject
to limitations under applicable regulations and policies of the Office of Thrift
Supervision.
. (b) Method of Exercise. This Option shall be exercisable
by a written notice which shall:
(i) State the election to exercise the Option, the number of
Shares with respect to which it is being exercised, the person in whose
name the stock certificate or certificates for such Shares of Common
Stock is to be registered, his address and Social Security Number (or
if more than one, the names, addresses and Social Security Numbers of
such persons);
(ii) Contain such representations and agreements as to the
holder's investment intent with respect to such shares of Common Stock
as may be satisfactory to the Company's counsel;
(iii) Be signed by the person or persons entitled to exercise
the Option and, if the Option is being exercised by any person or
persons other than the Optionee, be accompanied by proof, satisfactory
to counsel for the Company, of the right of such person or persons to
exercise the Option; and
(iv) Be in writing and delivered in person or by certified
mail to the Treasurer of the Company.
Payment of the purchase price of any Shares with respect to which the
Option is being for shares of Common Stock as to which the Option shall be
exercised shall be registered in the name of the person or persons exercising
the Option.
(c) Restrictions on Exercise. This Option may not be exercised
------------------------
if the issuance of the Shares upon such exercise would constitute a violation of
any applicable federal or state securities or other law or valid regulation. As
a condition to the Optionee's exercise of this Option, the Company may require
the person exercising this Option to make any representation and warranty to the
Company as may be required by any applicable law or regulation.
3. Non-transferability of Option. This Option may not be transferred in
-----------------------------
any manner otherwise than by will or the laws of descent or distribution and may
be exercised during the lifetime of the Optionee only by the Optionee. The terms
of this Option shall be binding upon the executors, administrators, heirs,
successors and assigns of the Optionee.
2
4. Term of Option. This Option may not be exercised more than ten (10)
--------------
years from the date of grant of this Option, as set forth below, and may be
exercised during such term only in accordance with the Plan and the terms of
this Option.
5. Related Matters. Notwithstanding anything herein to the contrary,
----------------
additional conditions or restrictions related to such Options may be contained
in the Plan or the resolutions of the Plan Committee authorizing such grant of
Options.
Roebling Financial Corp, Inc.
Date of Grant: By:
---------------- ------------------------------
Attest:
[SEAL]
3