Unitrin, Inc. 1995 Non-Employee Director Stock Option Plan
NON-QUALIFIED STOCK OPTION AGREEMENT
This NON-QUALIFIED STOCK OPTION AGREEMENT (the “Agreement”) is made as of this day of ,
between UNITRIN, INC., a Delaware corporation (the “Company”), and , the (“Option Holder”).
A. The Board of Directors and Shareholders of the Company have adopted the 1995 Non-Employee Director Stock
B. The Plan provides, among other things, for the automatic grant of stock options to non-employee directors of the
Company in the amounts and at the times set forth in the Plan.
C. The option granted hereby is not intended to qualify as an “incentive stock option” under §422A of the Internal
Revenue Code of 1986, as amended.
D. Terms used herein and not otherwise defined shall have the meanings given to such terms in the Plan.
NOW, THEREFORE, the parties hereto agree as follows:
1. Grant of Option . The Company grants to the Option Holder the right and option to purchase on the terms and
conditions hereinafter set forth, all or any part of an aggregate of four thousand (4,000) shares of the Common Stock of the
Company (the “Option”) at the purchase price of $ per share, exercisable from time to time in accordance with the
provisions of this Agreement during a period expiring on the tenth anniversary of the date of this Agreement or such later date
as may result from the application of §6 (the “Expiration Date”). This Option is also subject to early termination in accordance
2. Vesting . The Option Holder may not purchase any shares by exercise of this Option between the date of this
Agreement and the first anniversary date hereof. The shares subject to this Option shall become exercisable in full by the
Option Holder commencing on the first anniversary date of this Agreement. Subject to earlier termination under §5 or the terms
of the Plan and n