X0101 42003-06-020000276400BANCINSURANCE CORP BCIS0001183450STEPHAN DANIEL J 0100SVP Marketing (of Subsidiary)Option to purchase Common Shares5.212003-06-024A050000A2004-06-022013-06-01Common Shares50005000D20% of the grant becomes exercisable on each of the first five anniversaries of the date of grant./s/ Daniel J. Stephan2003-06-04