2000 Director and Officer Stock Option and Incentive Plan



 Exhibit 10.4 
  
 CITRIX SYSTEMS, INC. 
  
 2000 DIRECTOR AND
OFFICER STOCK OPTION AND INCENTIVE PLAN 
 NON-QUALIFIED STOCK OPTION AGREEMENT 
  
 Citrix Systems, Inc. (the “Company”) hereby grants the following stock option pursuant to its
2000 Director and Officer Stock Option and Incentive Plan. The terms and conditions attached hereto are also a part hereof. 
  

			
	 Name of option holder (the “Participant”):
	  	 
	 Date of this option grant:
	  	 
	 Number of shares of the Company’s Common
 Stock subject to this option (“Option Shares”):
	  	 
	 Option exercise price per share:
	  	 
	 Number, if any, of Option Shares that may be
 purchased on or after grant date:
	  	 
	 Number of Option Shares subject to vesting schedule:
	  	 
	 Vesting Start Date:
	  	 
	  
 Vesting
Schedule:
	  	 
		
	 One year from Vesting Start Date:
	  	[an additional]                          shares

	 Two years from Vesting Start Date:
	  	an additional                         
shares
	 Three years from Vesting Start Date:
	  	an additional                         
shares
	 Four years from Vesting Start Date:
	  	all remaining shares
	 Payment alternatives (specify any or all of
 Section 7(a)(i) though (iv):
	  	 

  

					
	 	 	      CITRIX SYSTEMS, INC.
	  

	 	 
	Signature of Participant	 	By:	 	  


	  

	 	 	 	Name of Officer:
	Street Address	 	 	 	Title:
	  

	 	 	 	 
	City/State/Zip Code	 	 	 	 








 CITRIX SYSTEMS, INC. 
  
 NON-QUALIFIED STOCK OPTION
AGREEMENT — INCORPORATED TERMS AND CONDITIONS 
  
 1. Grant Under Plan. This option is granted pursuant to and is governed by the Company’s 2000 Director and Officer Stock Option
and Incentive Plan (the “Plan”) and, unless the context otherwise requires, terms used herein shall have the same meaning as in the Plan. 
  
 2. Grant as Non-Qualified Stock Option. This option is a non-statutory stock option and is not intended to qualify as an incentive
stock option under Section 422 of the Internal Revenue Code of 1986, as amended, and the regulations thereunder (the “Code”). 
  
 3. Vesting of Option if Business Relationship Continues. The Participant may exercise this option on or after the date of this option
grant for the number of shares of Common Stock, if any, indicated on the cover page hereof. If the Participant has continued to serve the Company or any Subsidiary in the capacity of an employee, officer, director, advisor or consultant (such
service is described herein as maintaining or being involved in a “Business Relationship with the Company”) through the dates listed on the vesting schedule set forth on the cover page hereof, the Participant may exercise this option for
the additional number of shares of Common Stock set opposite the applicable vesting date. Notwithstanding the foregoing, the Board may, in its discretion, accelerate the date that any installment of this option becomes exercisable. The foregoing
rights are cumulative and (subject to Sections 4 or 5 hereof if the Participant’s Business Relationship with the Company terminates) may be exercised only before the date which is ten years from the date of this option grant. 
  
 4. Termination of Business Relationship. 
  
 (a) Termination Other Than for Cause. If
the Participant’s Business Relationship with the Company is terminated, other than by reason of death or disability as defined in Section 5 or termination for Cause as defined in Section 4(c), no further installments of this option
shall become exercisable, and this option may no longer be exercised after the passage of three months from the date the Participant’s Business Relationship with the Company terminates, but in no event later than the scheduled expiration date.
For purposes hereof, Participant’s Business Relationship with the Company shall not be considered as having terminated during any leave of absence if such leave of absence has been approved in writing by the Company and if such written approval
contractually obligates the Company to continue the Participant’s Business Relationship with the Company after the approved period of absence. In the event of such an approved leave of absence, vesting of this option shall be suspended (and the
period of the leave of absence shall be added to all vesting dates) unless otherwise provided in the Company’s written approval of the leave of absence. This option shall not be affected by any change of Business Relationship within or among
the Company and its Subsidiaries so long as the Participant continuously maintains his Business Relationship with the Company or any Subsidiary. 







 (b) Termination for Cause. If Participant’s Business
Relationship with the Company is terminated for Cause (as defined in Section 4(c)), this option shall no longer be exercised upon the Participant’s receipt of written notice of such termination. 
  
 (c) Definition of Cause.
“Cause” shall mean conduct involving one or more of the following: (i) the substantial and continuing failure of the Participant, after notice thereof, to render services to the Company in accordance with the terms or
requirements of his or her Business Relationship with the Company; (ii) disloyalty, gross negligence, willful misconduct, dishonesty, fraud or breach of fiduciary duty to the Company; (iii) deliberate disregard of the rules or policies of
the Company, or breach of an agreement with the Company, which results in direct or indirect loss, damage or injury to the Company; (iv) the unauthorized disclosure of any trade secret or confidential information of the Company; or (v) the
commission of an act which constitutes unfair competition with the Company or which induces any customer or supplier to breach a contract with the Company. 
  
 5. Death; Disability. 
  
 (a) Death. If the Participant is a natural person who dies during the course of his or her Business Relationship with
the Company, this option may be exercised, to the extent otherwise exercisable on the date of his or her death, by the Participant’s estate, personal representative or beneficiary to whom this option has been transferred pursuant to
Section 10, only at any time within 180 days after the date of death, but not later than the scheduled expiration date. 
  
 (b) Disability. If the Participant is a natural person whose Business Relationship with the Company is terminated by
reason of his or her disability, this option may be exercised, to the extent otherwise exercisable on the date of cessation of Participant’s Business Relationship with the Company, only at any time within 180 days after such cessation of
Participant’s Business Relationship with the Company, but not later than the scheduled expiration date. For purposes hereof, “disability” means “permanent and total disability” as defined in
Section 22(e)(3) of the Code. 
  
 6. Partial
Exercise. This option may be exercised in part at any time and from time to time within the above limits, except that this option may not be exercised for a fraction of a share. 
  
 7. Payment of Exercise Price. 
  
 (a) Payment Options. The exercise price shall be paid by one or any combination of the
following forms of payment that are applicable to this option, as indicated on the cover page hereof: 
  

	 	(i)	by check payable to the order of the Company; or 

  

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	 	(ii)	if the Common Stock is then traded on a national securities exchange or on the Nasdaq National Market (or successor trading system), delivery of an irrevocable and
unconditional undertaking, satisfactory in form and substance to the Company, by a creditworthy broker to deliver promptly to the Company sufficient funds to pay the exercise price, or delivery by the Participant to the Company of a copy of
irrevocable and unconditional instructions, satisfactory in form and substance to the Company, to a creditworthy broker to deliver promptly to the Company cash or a check sufficient to pay the exercise price; or 

  

	 	(iii)	subject to Section 7(b) below, if the Common Stock is then traded on a national securities exchange or on the Nasdaq National Market (or successor trading system),
by delivery of shares of Common Stock having a fair market value equal as of the date of exercise to the option price; or 

  

	 	(iv)	by check payable to the order of the Company for the par value of the shares being purchased plus delivery of the Participant’s three-year personal full recourse
promissory note for the balance of the exercise price, with such note bearing interest payable not less than annually at the applicable Federal rate, as defined in Section 1274(d) of the Code. 

  
 In the case of (iii) above, fair market
value as of the date of exercise shall be determined as of the last business day for which such prices or quotes are available prior to the date of exercise and shall mean (i) the last reported sale price (on that date) of the Common Stock on
the principal national securities exchange on which the Common Stock is traded, if the Common Stock is then traded on a national securities exchange; or (ii) the last reported sale price (on that date) of the Common Stock on the Nasdaq National
Market (or successor trading system), if the Common Stock is not then traded on a national securities exchange. 
  
 (b) Limitations on Payment by Delivery of Common Stock. If Section 7(a)(iii) is applicable, and if the
Participant delivers Common Stock held by the Participant (“Old Stock”) to the Company in full or partial payment of the exercise price and the Old Stock so delivered is subject to restrictions or limitations imposed by agreement
between the Participant and the Company, an equivalent number of Option Shares shall be subject to all restrictions and limitations applicable to the Old Stock to the extent that the Participant paid for the Option Shares by delivery of Old Stock,
in addition to any restrictions or limitations imposed by this Agreement. Notwithstanding the foregoing, the Participant may not pay any part of the exercise price hereof by transferring Common Stock to the Company unless such Common Stock has been
owned by the Participant free of any substantial risk of forfeiture for at least six months. 
  
 8. Securities Laws Restrictions on Resale. Until registered under the Securities Act of 1933, as amended, or any successor statute
(the “Securities Act”), the Option Shares will be of an illiquid nature and will be deemed to be “restricted securities” for purposes of the Securities Act. Accordingly, such shares must be sold in compliance with
the registration requirements of the Securities Act or an exemption therefrom. Unless the Option Shares have been registered under the Securities Act, each certificate evidencing any of the Option Shares shall bear a legend substantially as follows:

  
 “The shares represented by this certificate
are subject to restrictions on transfer and may not be sold, exchanged, transferred, pledged, hypothecated or otherwise disposed of except in accordance with and subject to all the terms and conditions of a certain Non-Qualified Stock Option
Agreement dated as of             , a copy of which the Company will furnish to the holder of this certificate upon request and without charge.” 
  

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 9. Method of Exercising Option. Subject to the terms and conditions of this
Agreement, this option may be exercised by written notice to the Company at its principal executive office, or to such transfer agent as the Company shall designate. Such notice shall state the election to exercise this option and the number of
Option Shares for which it is being exercised and shall be signed by the person or persons so exercising this option. Such notice shall be accompanied by payment of the full purchase price of such shares, and the Company shall deliver a certificate
or certificates representing such shares as soon as practicable after the notice shall be received. Such certificate or certificates shall be registered in the name of the person or persons so exercising this option (or, if this option shall be
exercised by the Participant and if the Participant shall so request in the notice exercising this option, shall be registered in the name of the Participant and another person jointly, with right of survivorship). In the event this option shall be
exercised, pursuant to Section 5 hereof, by any person or persons other than the Participant, such notice shall be accompanied by appropriate proof of the right of such person or persons to exercise this option. 
  
 10. Option Not Transferable. This option is not
transferable or assignable except by will or by the laws of descent and distribution. During the Participant’s lifetime only the Participant can exercise this option. 
  

 11. No Obligation to Exercise Option. The grant and acceptance of this option imposes no obligation on the Participant
to exercise it. 
  
 12. No Obligation to Continue
Business Relationship. Neither the Plan, this Agreement, nor the grant of this option imposes any obligation on the Company to continue the Participant’s Business Relationship with the Company. 
  
 13. Adjustments. Except as is expressly provided in the
Plan with respect to certain changes in the capitalization of the Company, no adjustment shall be made for dividends or similar rights for which the record date is prior to such date of exercise. 
  
 14. Withholding Taxes. If the Company in its discretion
determines that it is obligated to withhold any tax in connection with the exercise of this option, or in connection with the transfer of, or the lapse of restrictions on, any Common Stock or other property acquired pursuant to this option, the
Participant hereby agrees that the Company may withhold from the Participant’s wages or other remuneration the appropriate amount of tax. At the discretion of the Company, the amount required to be withheld may be withheld in cash from such
wages or other remuneration or in kind from the Common Stock or other property otherwise deliverable to the Participant on exercise of this option. The Participant further agrees that, if the Company does not withhold an amount from the
Participant’s wages or other remuneration sufficient to satisfy the withholding obligation of the Company, the Participant will make reimbursement on demand, in cash, for the amount underwithheld. 
  

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 15. No Rights as Stockholder until Exercise. The Participant shall have no rights as
a stockholder with respect to the Option Shares until such time as the Participant has exercised this option by delivering a notice of exercise and has paid in full the purchase price for the number of shares for which this option is to be so
exercised in accordance with Section 9. 
  
 16.
Lock-up Agreement. The Participant agrees that in connection with an underwritten public offering of Common Stock, upon the request of the Company or the principal underwriter managing such public offering, the Option Shares may not be sold,
offered for sale or otherwise disposed of, directly or indirectly, without the prior written consent of the Company or such underwriter, as the case may be, for such period of time after the execution of an underwriting agreement in connection with
such offering that all of the Company’s then directors and executive officers agree to be similarly bound. 
  
 17. Arbitration. Any dispute, controversy, or claim arising out of, in connection with, or relating to the performance of this
Agreement or its termination shall be settled by arbitration in the State of Florida, pursuant to the rules then obtaining of the American Arbitration Association. Any award shall be final, binding and conclusive upon the parties and a judgment
rendered thereon may be entered in any court having jurisdiction thereof. 
  
 18. Provision of Documentation to Participant. By signing this Agreement the Participant acknowledges receipt of a copy of this Agreement and a copy of the Plan. 
  
 20. Miscellaneous. 
  
 (a) Notices. All notices hereunder shall
be in writing and shall be deemed given when sent by certified or registered mail, postage prepaid, return receipt requested, if to the Participant, to the address set forth below or at the address shown on the records of the Company, and if
to the Company, to the Company’s principal executive offices, attention of the Corporate Secretary. 
  
 (b) Entire Agreement; Modification. This Agreement constitutes the entire agreement between the parties relative to
the subject matter hereof, and supersedes all proposals, written or oral, and all other communications between the parties relating to the subject matter of this Agreement. This Agreement may be modified, amended or rescinded only by a written
agreement executed by both parties. 
  

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 (c) Fractional Shares. If this option becomes exercisable for a
fraction of a share because of the adjustment provisions contained in the Plan, such fraction shall be rounded down. 
  
 (d) Issuances of Securities; Changes in Capital Structure. Except as expressly provided herein or in the Plan, no
issuance by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number or price of shares subject to this
option. No adjustments need be made for dividends paid in cash or in property other than securities of the Company. If there shall be any change in the Common Stock of the Company through merger, consolidation, reorganization, recapitalization,
stock dividend, stock split, combination or exchange of shares, liquidation, spin-off, split-up or other similar change in capitalization or event, the restrictions contained in this Agreement shall apply with equal force to additional and/or
substitute securities, if any, received by the Participant in exchange for, or by virtue of his or her ownership of, Option Shares, except as otherwise determined by the Board. 
  
 (e) Severability. The invalidity, illegality or unenforceability of any provision of
this Agreement shall in no way affect the validity, legality or enforceability of any other provision. 
  
 (f) Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties hereto and
their respective successors and assigns, subject to the limitations set forth in Section 10 hereof. 
  
 (g) Governing Law. This Agreement shall be governed by and interpreted in accordance with the laws of the State of
Delaware, without giving effect to the principles of the conflicts of laws thereof. 
  

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