Looking for an agreement? Search from over 1 million agreements now.

Amended Form of Stock Option Agreement

This is an actual contract by Briggs & Stratton.
Browse the agreement preview below and buy the entire agreement for $35
Search This Document
BRIGGS & STRATTON CORPORATION AND SUBSIDIARIES 2009 ANNUAL REPORT ON FORM 10-K

EXHIBIT 10.6(d)

BRIGGS & STRATTON CORPORATION

INCENTIVE COMPENSATION PLAN

STOCK OPTION AGREEMENT

BRIGGS & STRATTON CORPORATION

INCENTIVE COMPENSATION PLAN

STOCK OPTION AGREEMENT Optionee: abNamebb No. of Shares: abNumberbb Date of Grant: August Expiration Date: August Exercise Price: $

BRIGGS & STRATTON CORPORATION (the " Company" ), a Wisconsin corporation, hereby grants to the above-named employee (the " Optionee" ) under The Briggs & Stratton Corporation Incentive Compensation Plan (the " Plan" ) a stock option to purchase from the Company during the period commencing (except as otherwise provided herein) on August and ending (except as otherwise provided herein) on the expiration date set forth above (the " option term" ) up to but not exceeding in the aggregate the number of shares set forth above of the Common Stock, $0.01 par value, of the Company (" Common Stock" ) at the price per share set forth above, all in accordance with and subject to the following terms and conditions:

1. No shares subject to this option may be purchased before August . On such date and from time to time thereafter, the shares subject to this option may be purchased during the option term. If the Optionee' s employment is terminated for any reason prior to August , then, unless otherwise determined by (or pursuant to authority granted by) the Compensation Committee (the " Committee" ) of the Board of Directors of the Company, this option shall not be exercisable.

2. If the effective date of retirement of the Optionee is before August , the Optionee may make application (at least one month prior to retirement) to the Committee for this option to become exercisable on such effective date. Such application may be denied or granted in whole or in part.

The following additional provisions shall apply with respect to the exercise of the option following termination of employment: (i) In the event that the Optionee' s employment shall be terminated by reason of death before the option is exercisable, the option may thereafter be exercised for a period of one year from the date of death. (ii) In the event that the Optionee' s employment shall be terminated by reason of Disability or Retirement, the option shall remain in effect in accordance with its terms, except that (x) the Committee may accelerate the date on which the option may first be exercised, (y) if the Optionee dies within three years of such termination of employment, the unexercised portion of any remaining option shall be exercisable immediately for a period of one year from the date of death of the Optionee, and (z) in no event may any option be exercised more than three years after the date of termination of employment or the expiration of the

original option term, whichever period is shorter. (iii) In the event that an Optionee' s employment is terminated for any other reason, no shares may be purchased after the date of termination of employment; except that the option, to the extent then exercisable, may be exercised for the balance of the option term. However, nothing in (i), (ii) or (iii) above shall permit the purchase of any shares after the expiration date set forth above. The Optionee' s employment shall be deemed to be terminated when he or she is no longer employed by (i) the Company, a subsidiary or an affiliate thereof, or (ii) a corporation, or a parent or subsidiary thereof, substituting a new option for the option granted by this Agreement (or assuming the option granted by this Agreement) by reason of a merger, consolidation, acquisition of property or stock, separation, reorganization or liquidation. Leaves of absence shall not constitute termination of employment.

Notwithstanding anything in the foregoing to the contrary, to the extent permitted under Section 422 of the Code, if the Optionee' s employment is terminated by reason of death, Disability or Retirement and the portion of this option that is otherwise exercisable during the post-termination period as provided above is greater than the portion that is exercisable as an incentive stock option during such post-termination period under Section 422, such post-termination period shall automatically be extended (but not beyond the original option term) to the extent necessary to permit the Optionee to exercise this option either as an incentive stock option or, if exercised after the expiration periods that apply for purposes of Section 422, as a non-qualified stock option.

3.1. Non-Competition During Employment . The Optionee agrees during his/her employment with the Company he/she shall not, directly or indirectly, either individually or as an employee, agent, partner, shareholder, consultant or in any other capacity, participate in, engage in or have a financial or other interest in any business which is in competition with the Company or any successor or assignee of the Company. The ownership of less than 1% of the outstanding securities of a publicly-traded company or 20% of a private company' s securities or profits, even though that corporation may be a competitor of the Company, shall not be deemed financial participation in a competitor.

3.2. Non-Competition After Employment . The Optionee agrees that, upon voluntary or involuntary termination
-- End of Preview --
Home| About Us| FAQ| Subscription | Contact Us |