SOUTHERN CONNECTICUT BANCORP, INC.
INCENTIVE STOCK OPTION
THIS AGREEMENT, made as of the grant date indicated in Section 3 below, and between Southern
Connecticut Bancorp, Inc. (the "Company"), and the undersigned individual (the "Optionee"), pursuant to the
Southern Connecticut Bancorp, Inc. 2002 Stock Option Plan (the "Plan"). (Terms not defined herein shall have
the same meaning as in the Plan.)
WHEREAS, the Optionee is a person eligible for grants of Options under the Plan, and the Company, through
the Plan's Committee, has approved the grant of Incentive Stock Options ("Options") under the Plan to the
NOW, THEREFORE, in consideration of the terms and conditions of this Agreement and pursuant to the Plan,
the parties agree as follows:
1. Grant of Options. The Company hereby grants to the Optionee the right and option to purchase from the
Company, at the exercise price set forth in Section 3 below, all or any part of the aggregate number of shares of
Common Stock of the Company (the "Shares") set forth in said Section 3.
2. Terms and Conditions. It is understood and agreed that the Option evidenced hereby is subject to the
provisions of the Plan (which are incorporated herein by reference) and the following terms and conditions:
a. Expiration Date: The Option evidenced hereby shall expire on the date specified in Section 3 below, or at such
earlier date as is provided in Section 8 of the Plan upon termination of Optionee's employment.
b. Exercise of Option. The Option evidenced hereby shall be exercisable from time to time by submitting an
appropriate notice of exercise ten days prior to the date of exercise specifying the number of shares for which the
Option is being exercised, addressed to the Company at its principal place of business
(i) Cash Only Exercise -- submitting the full cash purchase price of the exercised Shares; or
(ii) Shares Exercise -- tendering Shares (which have been held at least 6 months) in an amount sufficie