Exhibit 10.5



  


	 	Globant S.A.	Grant No.: _____
	 	Nonstatutory Stock Option Notice	 










 


This Notice evidences
the award of nonstatutory stock options (each, an “Option” or collectively, the “Options”)
that have been granted to you, [NAME], subject to and conditioned upon your agreement to the terms of the attached Nonstatutory
Stock Option Agreement (the “Agreement”). The Options entitle you to purchase common shares of the Company,
par value of $0.10 per share (“Common Shares”), of GLOBANT S.A., a société anonyme incorporated
under the laws of the Grand Duchy of Luxembourg, having its registered office at 5, rue Guillaume Kroll, L-1882 Luxembourg, registered
with the Luxembourg trade and companies register under number B 173 727 (the “Company”), under the GLOBANT
S.A. 2013 EQUITY INCENTIVE PLAN (the “Plan”). The number of shares you may purchase and the exercise
price at which you may purchase them are specified below. This Notice constitutes part of and is subject to the terms and provisions
of the Agreement and the Plan, which are incorporated by reference herein. You must return an executed copy of this Notice
to the Company within 30 days of the date hereof. If you fail to do so, the Options may be rendered null and void in the Company’s
discretion.


 


Grant Date: [GRANT DATE]


 


Number of Options: [NUMBER] Options,
each permitting the purchase of one Share


 


Exercise Price: [PRICE] per share


 


Expiration Date: The Options expire
at 5:00 p.m. Eastern Time on the last business day coincident with or prior to the
10th anniversary of the Grant Date (the “Expiration Date”), unless fully exercised or terminated earlier.


 


Exercisability Schedule: Subject
to the terms and conditions described in the Agreement, the Options become exercisable in accordance with the schedule below:


 


		·	25% of the Options become exercisable on each anniversary of the Grant Date through the fourth
anniversary of the Grant Date.



 


Acceleration Events: The extent
to which you may purchase shares under the Options may be accelerated in the following circumstances:


 


		·	[Immediately before and contingent upon a Change in Control (as defined in the Plan), 100% of the
Options that had not yet become exercisable will become exercisable.]



 


The extent to which the Options are exercisable
as of a particular date is rounded down to the nearest whole share. However, exercisability is rounded up to 100% on the fourth
anniversary of the Grant Date.


 


	 	GLOBANT S.A.
	 	 
	 	By:	
	 	 	 
	 	Date:	 


 


I acknowledge that I have carefully read
the attached Agreement and the Plan and agree to be bound by all of the provisions set forth in these documents.


 


	Enclosures:	Nonstatutory Stock Option Agreement	 	OPTIONEE
	 	2013 Equity Incentive Plan	 	 
	 	Exercise Form	 	 
	 	 	 	 
	 	 	 	Date:	 




 





 




    	 



    	 



    

  


Grant No.: _____


 


Nonstatutory
Stock Option Agreement


 


Under
the


 


Globant
S.A. 2013 Equity Incentive Plan


 


1.             Terminology.
Capitalized terms used in this Agreement are defined in the correlating Stock Option Notice and/or the Glossary at the end of the
Agreement or in the Plan.


 


2.             Exercise
of Options.


 


(a)          Exercisability.
The Options will become exercisable in accordance with the Exercisability Schedule set forth in the Stock Option Notice, so long
as you are in the Service of the Company from the Grant Date through the applicable exercisability dates. None of the Options will
become exercisable after your Service with the Company ceases.


 


(b)          Right
to Exercise. You may exercise the Options, to the extent exercisable, at any time on or before 5:00 p.m.
Eastern Time on the Expiration Date or the earlier termination of the Options, unless otherwise provided under applicable law.
Notwithstanding the foregoing, if at any time the Administrator determines that the delivery of Shares under the Plan or this Agreement
is or may be unlawful under the laws of any applicable jurisdiction, or Federal, state or foreign securities laws, the right to
exercise the Options or receive Shares pursuant to the Options shall be suspended until the Administrator determines that such
delivery is lawful. If at any time the Administrator determines that the delivery of Shares under the Plan or this Agreement is
or may violate the rules of the national securities exchange on which the shares are then listed for trade, the right to exercise
the Options or receive Shares pursuant to the Options shall be suspended until the Administrator determines that such exercise
or delivery would not violate such rules. Section 3 below describes certain limitations on exercise of the Options that apply
in the event of your death, Total and Permanent Disability, or termination of Service. The Options may be exercised only in multiples
of whole Shares and may not be exercised at any one time as to fewer than one hundred Shares (or such lesser number of Shares as
to which the Options are then exercisable). No fractional Shares will be issued under the Options.


 


(c)          Exercise
Procedure. In order to exercise the Options, you must provide the following items to the Administrator or its delegate before
the expiration or termination of the Options:


 


(i)          notice,
in such manner and form as the Administrator may require from time to time, specifying the number of Shares to be purchased under
the Options;


 


(ii)         full
payment of the Exercise Price for the Shares or properly executed, irrevocable instructions, in such manner and form as the Administrator
may require from time to time, to effectuate a broker-assisted cashless exercise, each in accordance with Section 2(d) of
this Agreement; and


 


(iii)        full
payment of applicable withholding taxes pursuant to Section 7 of this Agreement.


 




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An exercise will not be effective until
the Administrator or its delegate receives all of the foregoing items, and such exercise otherwise is permitted under and complies
with all applicable federal, state and foreign securities laws. Notwithstanding the foregoing, if the Administrator permits payment
by means of delivering properly executed, irrevocable instructions, in such manner and form as the Administrator may require from
time to time, to effectuate a broker-assisted cashless exercise and such instructions provide for sale of Shares under a limit
order rather than at the market, the exercise will not be effective until the earlier of the date the Company receives delivery
of cash or cash equivalents in full payment of the Exercise Price or the date the Company receives confirmation from the broker
that the sale instruction has been fulfilled, and the exercise will not be effective unless the earlier of such dates occurs on
or before termination of the Options.


 


(d)          Method
of Payment. You may pay the Exercise Price by:


 


(i)          delivery
of cash, certified or cashier’s check, money order or other cash equivalent acceptable to the Administrator in its discretion;


 


(ii)         a
broker-assisted cashless exercise in accordance with Regulation T of the Board of Governors of the Federal Reserve System
through a brokerage firm designated or approved by the Administrator;


 


(iii)        any
other method approved by the Administrator; or


 


(iv)        any
combination of the foregoing.


 


(e)          Issuance
of Shares upon Exercise. The Company shall issue to you the Shares underlying the Options you exercise as soon as practicable
after the exercise date, subject to the Company’s receipt of the aggregate exercise price and the requisite withholding taxes,
if any. Upon issuance of such Shares, the Company may deliver, subject to the provisions of Section 7 below, such Shares on your
behalf electronically to the Company’s designated stock plan administrator or such other broker-dealer as the Company may
choose at its sole discretion, within reason, or may retain such Shares in uncertificated book-entry form. Any share certificates
delivered will, unless the Shares are registered or an exemption from registration is available under applicable federal and state
law, bear a legend restricting transferability of such Shares.


 


(f)          Agreement
to Execute Other Agreements. You agree to execute, as a condition precedent to the exercise of the Options and at any time
thereafter as may reasonably be requested by the Administrator, a stock restriction agreement substantially in the form, and containing
the terms and provisions, of the stock restriction agreement provided by the Company, with respect to any shares you acquire pursuant
to this Agreement; provided, however, that execution of the stock restriction agreement will not be required upon
any exercise that occurs after the closing of the first public offering of capital stock of the Company that is effected pursuant
to a registration statement filed with, and declared effective by, the Securities and Exchange Commission under the Securities
Act of 1933 or, if later, the expiration of any market stand-off agreement that applies to other stockholders of the Company respecting
such public offering of capital stock.


 


3.             Termination
of Service.


 


(a)          Termination
of Unexercisable Options. If your Service with the Company ceases for any reason, the Options that are then unexercisable will
terminate immediately upon such cessation.


 


(b)          Exercise
Period Following Termination of Service. If your Service with the Company ceases for any reason other than discharge for Cause,
the Options that are then exercisable will terminate upon the earliest of:


 




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(i)          the
expiration of 90 days following such cessation, if your Service ceases on account of (1) your termination by the Company other
than a discharge for Cause, or (2) your voluntary termination other than for Total and Permanent Disability or death;


 


(ii)         the
expiration of 12 months following such cessation, if your Service ceases on account of your Total and Permanent Disability or death;


 


(iii)        the
expiration of 12 months following your death, if your death occurs during the periods described in clauses (i) or (ii) of this
Section 3(b), as applicable; or


 


(iv)        the
Expiration Date.


 


In the event of your death, the exercisable
Options may be exercised by your executor, personal representative, or the person(s) to whom the Options are transferred by will
or the laws of descent and distribution.


 


(c)          Misconduct.
The Options will terminate in their entirety, regardless of whether the Options are then exercisable, immediately upon your discharge
from Service for Cause, or upon your commission of any of the following acts during the exercise period following your termination
of Service: (i) fraud on or misappropriation of any funds or property of the Company, or (ii) your breach of any provision
of any employment, non-disclosure, non-competition, non-solicitation, assignment of inventions, or other similar agreement executed
by you for the benefit of the Company, as determined by the Administrator, which determination will be conclusive.


 


(d)          Change
in Status. In the event that your Service is with a business, trade or entity that, after the Grant Date, ceases for any reason
to be part or an Affiliate of the Company, your Service will be deemed to have terminated for purposes of this Section 3 upon
such cessation if your Service does not continue uninterrupted immediately thereafter with the Company or an Affiliate of the Company.


 


4.             Market
Stand-Off Agreement. You agree that following the effective date of a registration statement of the Company filed
under the Securities Act of 1933, you, for the duration specified by and to the extent requested by the Company and an underwriter
of Common Shares or other securities of the Company, shall not offer, sell, contract to sell, pledge or otherwise dispose of, directly
or indirectly, any equity securities of the Company, or any securities convertible into or exchangeable or exercisable for such
securities, enter into a transaction which would have the same effect, or enter into any swap, hedge or other arrangement that
transfers, in whole or in part, any of the economic consequences of ownership of such securities, whether any such aforementioned
transaction is to be settled by delivery of such securities or other securities, in cash or otherwise, or publicly disclose the
intention to make any such offer, sale, pledge or disposition, or to enter into any such transaction, swap, hedge or other arrangement,
in each case during the seven days prior to and the 180 days after the effectiveness of any underwritten offering of the Company’s
equity securities (or such longer or shorter period as may be requested in writing by the managing underwriter and agreed to in
writing by the Company) (the “Market Stand-Off Period”), except as part of such underwritten registration
if otherwise permitted. In addition, you agree to execute any further letters, agreements and/or other documents requested by the
Company or its underwriters that are consistent with the terms of this Section 4. The Company may impose stop-transfer instructions
with respect to securities subject to the foregoing restrictions until the end of such Market Stand-Off Period.


 


5.             Nontransferability
of Options. These Options and, before exercise, the underlying Shares are nontransferable otherwise than by will or the laws
of descent and distribution and, during your lifetime, the Options may be exercised only by you or, during the period you are under
a legal disability, by your guardian or legal representative. Except as provided above, the Options and, before exercise, the underlying
Shares may not be assigned, transferred, pledged, hypothecated, subjected to any “put equivalent position,” “call
equivalent position” (as each preceding term is defined by Rule 16(a)-1 under the Securities Exchange Act of 1934), or short
position, or disposed of in any way (whether by operation of law or otherwise) and shall not be subject to execution, attachment
or similar process.


 




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6.           Nonqualified
Nature of the Options. The Options are not intended to qualify as incentive stock options within the meaning of Code
section 422, and this Agreement shall be so construed. You hereby acknowledge that, upon exercise of the Options, you will
recognize compensation income in an amount equal to the excess of the then Fair Market Value of the Shares over the Exercise Price
and must comply with the provisions of Section 7 of this Agreement with respect to any tax withholding obligations that arise
as a result of such exercise.


 


7.           Withholding
of Taxes.


 


(a)          At
the time the Options are exercised, in whole or in part, or at any time thereafter as requested by the Company, you hereby authorize
withholding from payroll or any other payment of any kind due to you and otherwise agree to make adequate provision for foreign,
federal, state and local taxes required by law to be withheld, if any, which arise in connection with the Options. The Company
may require you to make a cash payment to cover any withholding tax obligation as a condition of exercise of the Options or issuance
of share certificates representing Shares.


 


(b)          The
Administrator may, in its sole discretion, permit you to satisfy, in whole or in part, any withholding tax obligation which may
arise in connection with the Options either by electing to have the Company withhold from the Shares to be issued upon exercise
that number of Shares, or by electing to deliver to the Company already-owned shares, in either case having a Fair Market Value
not in excess of the amount necessary to satisfy the statutory minimum withholding amount due.


 


8.          Adjustments.
The Administrator may make various adjustments to your Options, including adjustments to the number and type of securities subject
to the Options and the Exercise Price, in accordance with the terms of the Plan. In the event of any transaction resulting in a
Change in Control (as defined in the Plan) of the Company, the outstanding Options will terminate upon the effective time of such
Change in Control unless provision is made in connection with the transaction for the continuation or assumption of such Options
by, or for the substitution of the equivalent awards of, the surviving or successor entity or a parent thereof. In the event of
such termination, you will be permitted, immediately before the Change in Control, to exercise or convert all portions of such
Options that are then exercisable or which become exercisable upon or prior to the effective time of the Change in Control.


 


9.          Non-Guarantee
of Employment or Service Relationship. Nothing in the Plan or this Agreement will alter your at-will or other employment status
or other service relationship with the Company or any of its Affiliates, nor be construed as a contract of employment or service
relationship between you and the Company or any of its Affiliates, or as a contractual right for you to continue in the employ
of, or in a service relationship with, the Company or any of its Affiliates for any period of time, or as a limitation of the right
of the Company or any of its Affiliates to discharge you at any time with or without Cause or notice and whether or not such discharge
results in the failure of any of the Options to become exercisable or any other adverse effect on your interests under the Plan.


 


10.         No
Rights as a Stockholder. You shall not have any of the rights of a stockholder with respect to the Shares until such Shares
have been issued to you upon the due exercise of the Options. No adjustment will be made for dividends or distributions or other
rights for which the record date is prior to the date such Shares are issued.


 




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11.         The
Company’s Rights. The existence of the Options shall not affect in any way the right or power of the Company or its stockholders
to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in the Company's capital structure
or its business, or any merger or consolidation of the Company, or any issue of bonds, debentures, preferred or other stocks with
preference ahead of or convertible into, or otherwise affecting the Common Shares or the rights thereof, or the dissolution or
liquidation of the Company, or any sale or transfer of all or any part of the Company's assets or business, or any other corporate
act or proceeding, whether of a similar character or otherwise.


 


12.         Entire
Agreement. This Agreement, together with the correlating Stock Option Notice and the Plan, contain the entire agreement between
you and the Company with respect to the Options. Any oral or written agreements, representations, warranties, written inducements,
or other communications made prior to the execution of this Agreement with respect to the Options shall be void and ineffective
for all purposes.


 


13.         Amendment.
This Agreement may be amended from time to time by the Administrator in its discretion; provided, however, that this
Agreement may not be modified in a manner that would have a materially adverse effect on the Options or Shares as determined in
the discretion of the Administrator, except as provided in the Plan or in a written document signed by you and the Company.


 


14.         Conformity
with Plan. This Agreement is intended to conform in all respects with, and is subject to all applicable provisions of, the
Plan. Any conflict between the terms of this Agreement and the Plan shall be resolved in accordance with the terms of the Plan.
In the event of any ambiguity in this Agreement or any matters as to which this Agreement is silent, the Plan shall govern. A copy
of the Plan is provided to you with this Agreement.


 


15.         Section
409A. This Agreement and the Options granted hereunder are intended to comply with, or otherwise be exempt from, Section 409A
of the Code. This Agreement and the Options shall be administered, interpreted and construed in a
manner consistent with this intent. Nothing in the Plan or this Agreement shall be construed as including any feature for
the deferral of compensation other than the deferral of recognition of income until the exercise of the Options. Should any provision
of the Plan or this Agreement be found not to comply with, or otherwise be exempt from, the provisions of Section 409A of the Code,
it may be modified and given effect, in the sole discretion of the Administrator and without requiring your consent, in such manner
as the Administrator determines to be necessary or appropriate to comply with, or to effectuate an exemption from, Section 409A
of the Code. The foregoing, however, shall not be construed as a guarantee or warranty by the Company of any particular tax effect
to you.


 


16.         Electronic
Delivery of Documents. By your signing the Notice, you (i) consent to the electronic delivery of this Agreement, all information
with respect to the Plan and the Options, and any reports of the Company provided generally to the Company’s stockholders;
(ii) acknowledge that you may receive from the Company a paper copy of any documents delivered electronically at no cost to
you by contacting the Company by telephone or in writing; (iii) further acknowledge that you may revoke your consent to the electronic
delivery of documents at any time by notifying the Company of such revoked consent by telephone, postal service or electronic mail;
and (iv) further acknowledge that you understand that you are not required to consent to electronic delivery of documents.


 




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17.         No
Future Entitlement. By execution of the Notice, you acknowledge and agree that: (i) the grant of these Options is a one-time
benefit which does not create any contractual or other right to receive future grants of stock options, or compensation in lieu
of stock options, even if stock options have been granted repeatedly in the past; (ii) all determinations with respect to any such
future grants, including, but not limited to, the times when stock options shall be granted or shall become exercisable, the maximum
number of shares subject to each stock option, and the purchase price, will be at the sole discretion of the Administrator; (iii)
the value of these Options is an extraordinary item of compensation which is outside the scope of your employment contract, if
any; (iv) the value of these Options is not part of normal or expected compensation or salary for any purpose, including, but not
limited to, calculating any termination, severance, resignation, redundancy, end of service payments or similar payments, or bonuses,
long-service awards, pension or retirement benefits; (v) the vesting of these Options ceases upon termination of employment with
the Company or transfer of employment from the Company, or other cessation of eligibility for any reason, except as may otherwise
be explicitly provided in this Agreement; (vi) if the underlying Common Shares do not increase in value, these Options will have
no value, nor does the Company guarantee any future value; and (vii) no claim or entitlement to compensation or damages arises
if these Options do not increase in value and you irrevocably release the Company from any such claim that does arise.


 


18.         Personal
Data. For the purpose of implementing, administering and managing these Options, you, by execution of the Notice, consent to
the collection, receipt, use, retention and transfer, in electronic or other form, of your personal data by and among the Company,
its Affiliates and its third party vendors or any potential party to any Change in Control transaction or capital raising transaction
involving the Company. You understand that personal data (including but not limited to, name, home address, telephone number, employee
number, employment status, social security number, tax identification number, date of birth, nationality, job and payroll location,
data for tax withholding purposes and shares awarded, cancelled, exercised, vested and unvested) may be transferred to third parties
assisting in the implementation, administration and management of these Options and the Plan and you expressly authorize such transfer
as well as the retention, use, and the subsequent transfer of the data by the recipient(s). You understand that these recipients
may be located in your country or elsewhere, and that the recipient’s country may have different data privacy laws and protections
than your country. You understand that data will be held only as long as is necessary to implement, administer and manage these
Options. You understand that you may, at any time, request a list with the names and addresses of any potential recipients of the
personal data, view data, request additional information about the storage and processing of data, require any necessary amendments
to data or refuse or withdraw the consents herein, in any case without cost, by contacting in writing the Administrator or its
delegate. You understand, however, that refusing or withdrawing your consent may affect your ability to accept a stock option.


 


19.         Governing
Law. The validity, construction and effect of this Agreement, and of any determinations or decisions made by the Administrator
relating to this Agreement, and the rights of any and all persons having or claiming to have any interest under this Agreement,
shall be determined exclusively in accordance with the laws of the State of Delaware, without regard to its provisions concerning
the applicability of laws of other jurisdictions. Any dispute arising from the interpretation, validity or performance of the Plan
or any Grant Agreement or any of their terms and provisions shall be submitted to the courts of the State of Delaware in the United
States.


 


20.         Resolution
of Disputes. Any dispute or disagreement which shall arise under, or as a result of, or pursuant to or relating to, this Agreement
shall be determined by the Administrator in good faith in its absolute and uncontrolled discretion, and any such determination
or any other determination by the Administrator under or pursuant to this Agreement and any interpretation by the Administrator
of the terms of this Agreement, will be final, binding and conclusive on all persons affected thereby. You agree that before you
may bring any legal action arising under, as a result of, pursuant to or relating to, this Agreement you will first exhaust your
administrative remedies before the Administrator. You further agree that in the event that the Administrator does not resolve any
dispute or disagreement arising under, as a result of, pursuant to or relating to, this Agreement to your satisfaction, no legal
action may be commenced or maintained relating to this Agreement more than twenty-four (24) months after the Administrator’s
decision.


 


21.         Headings.
The headings in this Agreement are for reference purposes only and shall not affect the meaning or interpretation of this Agreement.


 


 



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{Glossary begins on next page}


 




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GLOSSARY


 


(a)          “Administrator”
means the Board or the committee(s) or officer(s) appointed by the Board that have authority to administer the Plan.


 


(b)          “Affiliate”
means any entity, whether now or hereafter existing, which controls, is controlled by, or is under common control with, Globant
S.A. For this purpose, “control” means ownership of 50% or more of the total combined voting power or value of all
classes of stock or interests of the entity.


 


(c)          “Cause”
has the meaning ascribed to such term or words of similar import in your written employment or service contract with the Company
as in effect at the time at issue and, in the absence of such agreement or definition, means your (i) conviction of, or plea
of nolo contendere to, a felony or crime involving moral turpitude; (ii) fraud on or misappropriation of any funds
or property of the Company, any affiliate, customer or vendor; (iii) personal dishonesty, incompetence, willful misconduct,
willful violation of any law, rule or regulation (other than minor traffic violations or similar offenses) or breach of fiduciary
duty which involves personal profit; (iv) willful misconduct in connection with your duties or willful failure to perform
your responsibilities in the best interests of the Company; (v) illegal use or distribution of drugs; (vi) violation
of any Company rule, regulation, procedure or policy; or (vii) breach of any provision of any employment, non-disclosure,
non-competition, non-solicitation or other similar agreement executed by you for the benefit of the Company, all as determined
by the Administrator, which determination will be conclusive.


 


(d)          “Code”
means the Internal Revenue Code of 1986, as amended.


 


(e)          “Company”
includes Globant S.A. and its Affiliates, except where the context otherwise requires. For purposes of determining whether a Change
in Control has occurred, Company shall mean only Globant S.A.


 


(f)          “Service”
means your employment or other service relationship with the Company and its Affiliates. Your Service will be considered to have
ceased with the Company and its Affiliates if, immediately after a sale, merger or other corporate transaction, the trade, business
or entity with which you are employed or otherwise have a service relationship is not the Company or its successor or an Affiliate
of the Company or its successor.


 


(g)          “Shares”
mean the Common Shares underlying the Options.


 


(h)          “Stock
Option Notice” means the written notice evidencing the award of the Options that correlates with and makes up a part
of this Agreement.


 


(i)          “Total
and Permanent Disability” means the inability to engage in any substantial gainful activity by reason of any medically
determinable physical or mental impairment which can be expected to result in death or which has lasted or can be expected to last
for a continuous period of not less than twelve months. The Administrator may require such proof of Total and Permanent Disability
as the Administrator in its sole discretion deems appropriate and the Administrator’s good faith determination as to whether
you are totally and permanently disabled will be final and binding on all parties concerned.


 


(j)          “You”;
“Your”. “You” or “your” means the recipient of the award of Options as reflected
on the Stock Option Notice. Whenever the Agreement refers to “you” under circumstances where the provision should logically
be construed, as determined by the Administrator, to apply to your estate, personal representative, or beneficiary to whom the
Options may be transferred by will or by the laws of descent and distribution, the word “you” shall be deemed to include
such person.


 




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EXERCISE FORM


 


Administrator of 2013 Equity Incentive
Plan


c/o Globant S.A.


 


Gentlemen:


 


I hereby exercise the
Options granted to me on ____________________, ____, by Globant S.A. (the “Company”), subject to all the terms and
provisions of the applicable grant agreement and of the Globant S.A. 2013 Equity Incentive Plan (the “Plan”), and notify
you of my desire to subscribe (purchase) ____________ Common Shares of the Company at a price of $___________ per share pursuant
to the exercise of said Options.


 


Total Amount Enclosed: $__________


 


	Date:____________________________	 	 	 
	 	 	(Optionee)	 
	 	 	 	 
	 	 	Received by Globant S.A. on	 
	 	 	 	 
	 	 	___________________________, ____	 
	 	 	 	 
	 	 	By: