Exhibit 10.15


 


INCENTIVE
STOCK OPTION AGREEMENT


UNDER THE


NEUSTAR,
INC. 1999 EQUITY INCENTIVE PLAN


 


THIS AGREEMENT, made as of June 6, 2002 (the “Effective
Date”), by and between NeuStar, Inc., a Delaware corporation (the “Company”),
and Mark Foster the “Participant”).


 


W
I  T  N  E  S  S  E  T  H:


 


WHEREAS, the Company desires to afford the
Participant the opportunity to acquire an ownership of the Company’s common
stock, par value $.002 per share (“Common Stock”), so that the Participant may
have a direct proprietary interest in the Company’s success.


 


NOW, THEREFORE, in consideration of the
covenants and agreements herein contained, the parties hereto hereby agree as
follows:


 


1.                                       Grant of
Option.  Subject to the terms and
conditions set forth herein and in the Company’s 1999 Equity Incentive Plan, as
restated as of March 13, 2002
(the “Plan”), the Company hereby grants to the Participant, during the period
commencing on the date of this Agreement and ending on June 6, 2012 (the “Expiration
Date”), the right and option (the right to purchase any one share of Common
Stock hereunder being an “Option”) to purchase from the Company 14,137 shares of Common
Stock.  The Options shall have an
exercise price of $6.00 per share,
which is not less than the Fair Market Value per share of the Common Stock as
of the date hereof.  Each of the Options
granted pursuant to this Section 1 shall constitute Incentive Common Stock
Options to the extent permissible under Section 422 of the Code and the
Plan.


 


2.                                       Limitations
on Exercise of Options.  Subject to
the terms and conditions set forth herein and the Plan, the Options shall vest
and become exercisable on the Effective Date; provided, however, the
Participant may not exercise any Option for fractional shares of Common
Stock.  The Committee or the Board may
accelerate the vesting and exercisability of any or all of the then-unvested
Options at any time.


 


3.                                       Termination
of Service.  (a) If, prior to the
Expiration Date, the Participant’s Service with the Company shall terminate
(the date of termination being the “Date of Termination”) by reason of a Normal
Termination (as defined in the Plan), the Options shall remain exercisable
until the earlier of the Expiration Date or the day three (3) months after the
Date of Termination to the extent the Options were vested and exercisable as of
the Date of Termination.


 


(b) If the Participant’s Service with the
Company shall cease prior to the Expiration Date by reason of death or
disability, or the Participant shall die or become disabled while entitled to
exercise any of the Options pursuant to paragraph 3(a), the Participant or the
Participant’s legal representative, or, in the case of death, the executor or
administrator of the estate of the Participant or the person or persons to whom
the Options shall have been validly transferred by the executor or
administrator pursuant to will or the laws of descent and distribution, shall
have the right, until the earlier of the 


 





















 


Expiration Date or one year after the date of death or disability, to
exercise the Options to the extent that the Participant was entitled to
exercise them on the date of death or disability.


 


(c) If, prior to the Expiration Date, the
Participant’s Service with the Company is terminated for “Cause” (as defined in
the Plan), (i) unless otherwise provided by the Committee, the Options, to the
extent not exercised as of the Date of Termination, shall lapse and be
canceled, and (ii) all shares of Common Stock received pursuant to an exercise
of the Options after such termination, in contravention of subsection (i)
above, may be purchased by the Company at its discretion for the exercise price
of such shares paid by the Participant. 
If the Participant’s Service relationship with the Company is suspended
pending an investigation of whether the Participant shall be terminated for
Cause, all the Participant’s rights with respect to the Options shall be
suspended during the period of investigation.


 


(d) If, prior to the Expiration Date, the
Participant’s Service with the Company is terminated other than for Cause, a
Normal Termination, death or disability, the Options, to the extent then vested
and exercisable as of the Date of Termination, shall remain exercisable until
the earlier of the Expiration Date or thirty (30) days after the Date of
Termination.


 


(e) After the expiration of any exercise
period described in any of Sections 3(a) - (d) hereof, or otherwise upon the
Expiration Date, the Options shall terminate together with all of the
Participant’s rights hereunder, to the extent not previously exercised.


 


4.                                       Non-Transferable.  Except as specifically authorized by the
Committee, the Participant may not transfer the Options except by will or the
laws of descent and distribution and the Options shall be exercisable during
the Participant’s lifetime only by the Participant or, in the event of the
Participant’s legal incapacity, his guardian or legal representative.  Except as so authorized, no purported
assignment or transfer of the Options, or of the rights represented thereby,
whether voluntary or involuntary, by operation of law or otherwise (except by
will or the laws of descent and distribution), shall vest in the assignee or
transferee any interest or right herein whatsoever.


 


5.                                       Adjustments
and Corporate Reorganizations; Changes in Organization.


 


(a) In accordance with and subject to the
applicable terms of the Plan and this Agreement, the Options shall be subject
to adjustment or substitution, as determined by the Committee in its sole
discretion, as to the number, price or kind of Common Stock or other
consideration subject to such Options or as otherwise determined by the
Committee in its sole discretion to be equitable (i) in the event of changes in
the outstanding Common Stock or in the capital structure of the Company by
reason of stock dividends, stock splits, reverse stock splits,
recapitalizations, reorganizations, mergers, consolidations, combinations,
exchanges, or other relevant changes in capitalization occurring after the date
hereof or (ii) in the event of any change in applicable laws or any change in
circumstances which results in or would result in any substantial dilution or 


 





















 


enlargement of the rights granted to, or available for, the
Participant.  The Committee shall give
the Participant written notice of an adjustment hereunder.


 


(b) In the
event that the Company undertakes a change in its organization, including but
not limited to a combination of business units, the creation of a new business
unit, the elimination of a business unit, or the acquisition, sale or transfer
of an interest in a business unit, the Options shall be subject to adjustment
or substitution (including but not limited to the substitution of common stock
of or other ownership interest in a Related Entity, other consideration or
another Award under the Plan), as to the number, price or kind of Common Stock
or other consideration subject to such Options or as otherwise determined by
the Committee in its sole discretion to be equitable.  For purposes of this Agreement, a “business
unit” shall mean any Related Entity or any division or other unit or group
within the Company that the Committee designates as a “business unit”.


 


6.                                       Exercise;
Payment For and Delivery of Common Stock. 
The Options shall be exercised by delivering written notice to the Committee
stating the number of whole shares of Common Stock to be purchased, the person
or persons in whose name the shares of Common Stock are to be registered and
each such person’s address and social security number.  Such notice shall not be effective unless
accompanied by the full purchase price for all shares to be purchased, and any
applicable withholding (as described below). 
The purchase price shall be payable in cash, in shares of Common Stock,
any combination of cash or shares of Common Stock or such other method of
payment as is authorized by the Plan with the consent of the Committee; provided,
however, that the Participant may use Common Stock in payment of the
exercise price only if the shares so used are considered “mature” for purposes
of generally accepted accounting principles (i.e., (i) been held by the
Participant free and clear for at least six (6) months prior to the use thereof
to pay part of an Option exercise price, (ii) been purchased by the Participant
in other than a compensatory transaction, or (iii) meet any other requirements
for “mature” shares as may exist on the date of the use thereof to pay part of
an Option exercise price).  In the event
that all or part of the purchase price is paid in shares of Common Stock, the
shares used in payment shall be valued at their Fair Market Value on the date
of exercise of the Options.  At the time
of exercise, the Participant shall pay to the Company, in cash, or by having
the Company withhold upon exercise of the Option a sufficient number of shares
of Common Stock otherwise deliverable to the Participant based on the Fair
Market Value of the Common Stock on the date of exercise, at the election of
the Participant, such minimum amount as the Company deems necessary to satisfy
its obligation to withhold Federal, state or local income or other taxes
incurred by reason of the exercise or the transfer of shares thereupon.  Payment in currency or by certified or
cashier’s check shall be considered payment in cash.


 


7.                                       Rights as
Common Stockholder.  The Participant
or a transferee of the Options shall have no rights as a stockholder with
respect to any shares covered by the Options until he or she shall have become
the holder of record of such shares (and the Company shall use its reasonable
best efforts to cause the Participant promptly to become the holder of record
of such shares), and, except as provided in Section 5 hereof, no
adjustment shall be made for dividends or distributions or other rights in
respect of 


 





















 


such shares for which the record date is prior to the date upon which
he shall become the holder or record thereof.


 


8.                                       Company;
Participant.  (a) The term “Company”
as used in this Agreement with reference to employment shall include the
Company and its affiliates.


 


(b) 
Whenever the word “Participant” is used in any provision of this
Agreement under circumstances where the provision should logically be construed
to apply to the executors, the administrators, legal representatives or the
person or persons to whom the Options may be transferred by will or by the laws
of descent and distribution, the word “Participant” shall be deemed to include
such person or persons.


 


9.                                       Requirements
of Law.  (a)  By accepting the Options, the Participant
represents and agrees for himself and his transferees (whether by will or the
laws of descent and distribution) that, unless a registration statement under
the Securities Act of 1933, as amended (the “Act”), is in effect as to shares
purchased upon any exercise of the Options, (i) any and all shares so purchased
shall be acquired for his or her personal account and not with a view to or for
sale in connection with any distribution, and (ii) each notice of the exercise
of any portion of this Option shall be accompanied by a representation and
warranty in writing, signed by the person entitled to exercise the same, that
the shares are being so acquired in good faith for his personal account and not
with a view to or for sale in connection with any distribution.


 


(b)  No
certificate or certificates for shares of Common Stock may be purchased, issued
or transferred if the exercise hereof or the issuance or transfer of such
shares shall constitute a violation by the Company or the Participant of any
(i) provision of any Federal, state or other securities law, (ii) requirement
of any securities exchange listing agreement to which the Company may be a
party, or (iii) other requirement of law or of any regulatory body having
jurisdiction over the Company.  Any
reasonable determination in this connection by the Board or the Committee, upon
notice given to the Participant, shall be final, binding and conclusive.


 


(c) 
The certificates representing shares of Common Stock acquired pursuant
to the exercise of options shall carry such appropriate legend, and such written
instructions shall be given to the Company’s transfer agent, as may be deemed
necessary or advisable by counsel to the Company in order to comply with the
requirements of the Act or any state securities laws.


 


10.                                 Notices.  Any notice to be given to either party shall
be in writing and shall be given by hand delivery to such party or by
registered or certified mail, return receipt requested, postage prepaid,
addressed to the Company in care of its Secretary at its principal office, and
to the Participant at the address given beneath his signature hereto, or at
such other address as either party shall have furnished to the other in writing
in accordance herewith.  Notice and
communications shall be effective when actually received by the addressee.


 





















 


11.                                 Disposition of
Common Stock.  The Participant agrees
to notify the Company, in writing, within thirty (30) days of any disposition
(whether by sale, exchange, gift or otherwise) of shares of Common Stock
purchased under this Agreement.


 


12.                                 Binding Effect.  Subject to Section 4 hereof, this
Agreement shall be binding upon the heirs, executors, administrators,
successors and permitted assigns of the parties hereto.


 


13.                                 Plan.  The terms and provisions of the Plan are
incorporated herein by reference and made a part hereof as though fully set
forth herein.  In the event of any
conflict or inconsistency between discretionary terms and provisions of this
Agreement, this Agreement shall govern and control.  In all other instances of conflicts or
inconsistencies or omissions, the terms and provisions of the Plan shall govern
and control.  All capitalized terms not
otherwise expressly defined in this Agreement shall have the meaning ascribed
to them in the Plan.


 


14.                                 Governing Law.  This Agreement shall be construed and
interpreted in accordance with the laws of the State of Delaware, without
regard to the principles of conflicts of law thereof.


 


15.                                 Entire Agreement.  This Agreement, together with the Plan and
the Common Stockholders Agreement, contains the entire agreement and
understanding between the parties with respect to the subject matter hereof and
supersedes all prior agreements, written or oral, with respect thereto.


 


IN WITNESS WHEREOF, the Company has granted
this Option on the Effective Date.


 


This instrument may be executed in any number
of counterparts, each of which shall be deemed to be an original, and such
counterparts together shall constitute one and the same instrument.


 


 


	
   

  	
  NEUSTAR, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Jeffrey Ganek

  	
   

  
	
   

  	
   

  	
  Jeffrey Ganek

  
	
   

  	
   

  	
  Chairman and Chief Executive Officer

  



 


 


ACCEPTED:


 


	
     /s/ Mark Foster

  	
   

  



Mark Foster