Sec. 26.11. Option pricing

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The plan shall provide that options may be granted at not less than 100 percent of the fair market value of the shares covered by such option on the date the option is granted. If a realistic and fair market value of such shares is not readily determinable, an estimate of the fair market value shall be made and options may be granted at not less than this figure and in such case the plan shall set forth in detail the method to be employed in estimating fair market value. Among the factors which should be considered in such estimates are:
(a) the market value of the shares of comparable banks; and
(b) the trend of the bank's earnings.

                    
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