exv10w8






Exhibit 10.8




CONSTANT CONTACT, INC.




Form of

Nonstatutory Stock Option Agreement (for Director Annual Grant)

Granted Under 2011 Stock Incentive Plan




	1.	 	Grant of Option.





     This agreement evidences the grant by Constant Contact, Inc., a Delaware corporation (the
“Company”), on [____________], 20[__] (the “Grant Date”) to [____________________], a director of
the Company (the “Participant”), of an option to purchase, in whole or in part, on the terms
provided herein and in the Company’s 2011 Stock Incentive Plan (the “Plan”), a total of [_________]
shares (the “Shares”) of common stock, $0.01 par value per share, of the Company (“Common Stock”)
at $[_____] per Share. Unless earlier terminated, this option shall expire at 5:00 p.m., Eastern
time, on [__________] (the “Final Exercise Date”).



     It is intended that the option evidenced by this agreement shall not be an incentive stock
option as defined in Section 422 of the Internal Revenue Code of 1986, as amended, and any
regulations promulgated thereunder (the “Code”). Except as otherwise indicated by the context, the
term “Participant”, as used in this option, shall be deemed to include any person who acquires the
right to exercise this option validly under its terms.




	2.	 	Vesting Schedule.





     (a) This option will become exercisable (“vest”) as to 33.33% of the original number of Shares
on [________], or one business day prior to the date of the Company’s next annual meeting of
stockholders, if earlier (the “Vesting Commencement Date”), and as to an additional 8.33% of the
original number of Shares at the end of each successive three-month period following the Vesting
Commencement Date until [_________].



     (b) The right of exercise shall be cumulative so that to the extent the option is not
exercised in any period to the maximum extent permissible it shall continue to be exercisable, in
whole or in part, with respect to all Shares for which it is vested until the earlier of the Final
Exercise Date or the termination of this option under Section 3 hereof or the Plan.



     (c) In the event of a Change of Control (as defined below), notwithstanding anything herein to
the contrary, immediately prior to the closing of the Change of Control the option will
automatically vest in full and be fully exercisable.



     (d) For the purposes of this Agreement, “Change of Control” shall mean (i) the consolidation
or merger of the Company with or into any other corporation or other entity (other than a merger or
consolidation in which all or substantially all of the individuals and entities who were beneficial
owners of the outstanding securities entitled to vote generally in the election of directors of the
Company immediately prior to such transaction beneficially own, directly or indirectly, more than
50% of the outstanding securities entitled to vote generally in the election of directors of the
resulting, surviving or acquiring corporation in such transaction), (ii) the sale of all or
substantially all of the properties and assets of the Company as an entirety to any other



 









 




person, or (iii) the sale or transfer, in a single transaction or series of related
transactions, of outstanding capital stock representing at least a majority of the voting power of
the outstanding capital stock of the Company immediately following such transaction.





	3.	 	Exercise of Option.





     (a) Form of Exercise. Each election to exercise this option shall be in a form (which
may be electronic) approved by the Company, and received by the Company or its designated
third-party administrator, accompanied by this agreement and payment in full in the manner provided
in the Plan or transmitted or signified in such other manner as provided at the time of exercise by
the Company or such administrator. For purposes hereof, “third-party administrator” means E*Trade
Corporate Financial Services, Inc. or any successor third-party stock option administrator
designated by the Company from time to time. The Participant may purchase less than the number of
shares covered hereby, provided that no partial exercise of this option may be for any fractional
share.



     (b) Continuous Relationship with the Company Required. Except as otherwise provided
in this Section 3, this option may not be exercised unless the Participant, at the time he or she
exercises this option, is, and has been at all times since the Grant Date, an employee, officer, or
director of, or consultant or advisor to, the Company or any other entity the employees, officers,
directors, consultants, or advisors of which are eligible to receive option grants under the Plan
(an “Eligible Participant”).



     (c) Termination of Relationship with the Company. If the Participant ceases to be an
Eligible Participant for any reason, then, except as provided in paragraphs (d) and (e) below, the
right to exercise this option shall terminate three months after such cessation (but in no event
after the Final Exercise Date), provided that this option shall be exercisable only
to the extent that the Participant was entitled to exercise this option on the date of such
cessation. Notwithstanding the foregoing, if the Participant, prior to the Final Exercise Date,
violates the non-competition or confidentiality provisions of any employment contract,
confidentiality and nondisclosure agreement or other agreement between the Participant and the
Company, the right to exercise this option shall terminate immediately upon written notice to the
Participant from the Company describing such violation.



     (d) Exercise Period Upon Death or Disability. If the Participant dies or becomes
disabled (within the meaning of Section 22(e)(3) of the Code) prior to the Final Exercise Date
while he or she is an Eligible Participant and the Company has not terminated such relationship for
“cause” as specified in paragraph (e) below, this option shall be exercisable, within the period of
one year following the date of death or disability of the Participant, by the Participant (or in
the case of death by an authorized transferee), provided that this option shall be
exercisable only to the extent that this option was exercisable by the Participant on the date of
his or her death or disability, and further provided that this option shall not be exercisable
after the Final Exercise Date.



     (e) Termination for Cause. If, prior to the Final Exercise Date, the Participant’s
service as a director or other relationship with the Company is terminated by the Company for Cause
(as defined below), the right to exercise this option shall terminate immediately upon the



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effective date of such termination of employment or other relationship. If the Participant is
party to an employment, consulting or severance agreement with the Company that contains a
definition of “cause” for termination of employment or other relationship, “Cause” shall have the
meaning ascribed to such term in such agreement. Otherwise, “Cause” shall mean willful misconduct
by the Participant or willful failure by the Participant to perform his or her responsibilities to
the Company (including, without limitation, breach by the Participant of any provision of any
employment, consulting, advisory, nondisclosure, non-competition or other similar agreement between
the Participant and the Company), as determined by the Company, which determination shall be
conclusive. The Participant shall be considered to have been discharged for “Cause” if the Company
determines, within 30 days after the Participant’s resignation, that discharge for Cause was
warranted.





	4.	 	Withholding.





     No Shares will be issued pursuant to the exercise of this option unless and until the
Participant pays to the Company, or makes provision satisfactory to the Company for payment of, any
federal, state or local withholding taxes required by law to be withheld in respect of this option.




	5.	 	Nontransferability of Option.





     This option may not be sold, assigned, transferred, pledged or otherwise encumbered by the
Participant, either voluntarily or by operation of law, except by will or the laws of descent and
distribution, and, during the lifetime of the Participant, this option shall be exercisable only by
the Participant.




	6.	 	Provisions of the Plan.





     This option is subject to the provisions of the Plan, a copy of which is furnished to the
Participant with this option.



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     IN WITNESS WHEREOF, the Company has caused this option to be executed under its corporate seal
by its duly authorized officer. This option shall take effect as a sealed instrument.



	 	 	 	 	 	 	 	 	 

	 	 	CONSTANT CONTACT, INC.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 





Dated:                     








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PARTICIPANT’S ACCEPTANCE




     By signing below (or by accepting the foregoing option through such other means as may be
established by the Company or its third-party administrator from time to time), the Participant
accepts the foregoing option and agrees to the terms and conditions thereof and acknowledges
receipt of a copy of the Plan.



	 	 	 	 	 	 	 

	 	 	PARTICIPANT:	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 

	 	Address:	 	 	 	 
	 

	 	 	 	 

	 	 
	 	 	 	 	 




Dated:                     





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