1999 Long-TermEquity Incentive Plan
Exhibit 10.1
Packaging Corporation of America
1999 Long-Term Equity Incentive Plan
Form of Stock Option Agreement
(Non-Qualified Stock Option)
By this agreement, Packaging Corporation of America grants to [NAME] an option to purchase shares of the Company’s common stock, $.01 par value, subject to the terms and conditions set forth below, in the attached Plan Prospectus, and in the PCA 1999 Long-Term Equity Incentive Plan, as may from time to time be amended and/or restated, all of which are an integral part of this Agreement. A copy of the 1999 Long-Term Equity Incentive Plan may be obtained from the Company upon request.
| Grant Date |
| Expiration Date |
| Number of Options Granted |
Option Exercise Price |
This Option shall vest and become exercisable in installments on the dates specified below:
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| Vesting |
| Number of Options |
| Cumulative |
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| Years After Grant Date |
| Percentage |
| Exercisable |
| No. of Options |
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| Less than one year |
| 0 | % |
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| At least 1, but less than 2 years |
| 33 | % |
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| At least 2, but less than 3 years |
| 66 | % |
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| At least 3 years |
| 100 | % |
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Please indicate your acceptance of this Agreement by signing in the space provided below and returning this page to Halane Young, Director of Compensation and HRIS, located in Lake Forest. A timely return of this document within thirty days is appreciated.
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| Packaging Corporation of America | ||
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| By: | ||
| Accepted and Agreed: |
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| Paul T. Stecko | ||
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| Chairman of the Board and CEO | |
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| Date |
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