BANKATLANTIC BANCORP 1999 STOCK OPTION PLAN
1. PURPOSES. The purposes of this BankAtlantic Bancorp 1999 Stock Option Plan (the "Plan") are to attract
and retain the best available personnel for positions of substantial responsibility, to provide additional incentive to
the Employees of the Company or its Subsidiaries (as defined in Section 2 below) as well as other individuals
who perform services for the Company and its Subsidiaries, and to promote the success of the Company's
business. Options granted hereunder may be either "incentive stock options", as defined in Section 422 of the
Internal Revenue Code of 1986, as amended, or "non-qualified stock options", at the discretion of the Committee
(as defined in Section 2 below) and as reflected in the terms of the Stock Option Agreement (as defined in
Section 2 below).
2. DEFINITIONS. As used herein, the following definitions shall apply:
(a) "Board of Directors" shall mean the Board of Directors of the Company.
(b) "Class A Common Stock" shall mean the Class A common stock, par value $.01 per share, of the Company.
(c) "Code" shall mean the Internal Revenue Code of 1986, as amended.
(d) "Company" shall mean BankAtlantic Bancorp, Inc., a Florida corporation, and its successors and assigns.
(e) "Committee" shall mean the Committee appointed by the Board of Directors in accordance with paragraph
(a) of Section 4 of the Plan.
(f) "Continuous Status as an Employee" shall mean the absence of any interruption or termination of service as an
Employee. Continuous Status as an Employee shall not be considered interrupted in the case of sick leave,
military leave, or any other leave of absence approved by the Board of Directors of the Company or the
(g) "Employee" shall mean any person, including officers and directors, employed by the Company or any Parent
or Subsidiary of the Company. The payment of a director's fee by the Company shall not be sufficient to
constitute "employment" by the Company.
(h) "Exchange Ac