STOCK OPTION AGREEMENTStock Option Agreement • August 14th, 1998 • German American Bancorp • State commercial banks • Indiana
AGREEMENT AND PLAN OF REORGANIZATIONAgreement and Plan of Reorganization • August 14th, 1998 • German American Bancorp • State commercial banks • Indiana
Exhibit 10.1 This letter, upon your delivery of an executed copy to the Corporation, shall constitute a binding incentive stock option agreement between your the Corporation.German American Bancorp • August 14th, 1998 • State commercial banks
Dear Mr. Essany: The Stock Option Committee of the Board of Directors of German American Bancorp (the _Corporation_ ), pursuant to section 7 of the GAB Bancorp 1992 Stock Option Plan (the _ Plan_ ), hereby grants to you, in replacement of a portion of the shares covered by your options dated April 20, 1993 and January 15, 1997, which has been exercised in part as of this date, a replacement option (the _Option_ ), which Option shall have the following terms and conditions, in addition to those provided in the Plan: 1. NumberseofPrShares:e$31.1,155ershares,,e subjectteto adjustmentdassprovidedpinethetPlan. 0e noon,atJasper time,eonoAprilf19,o2003. he date of this Option, and shall be cancel The Option, which is intended to qualify as an _ incentive stock option_ within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended, shall be in all respects limited and conditioned as provided in the Plan. A copy of the Plan is enclosed with this letter. During your lifetime,
