FORM OF RESTRICTED STOCK AGREEMENT, DATED SEPTEMBER 2, 2003



 EXHIBIT 10.3 
  
 CMGI, Inc. 
  
 Restricted Stock Agreement 
 Granted Under 2000 Stock Incentive Plan 

 
 AGREEMENT made as of the 2nd day of September, 2003 (the “Grant
Date”) between CMGI, Inc., a Delaware corporation (the “Company”), and [                    ] (the “Participant”).

  
 For past services rendered and other valuable consideration,
receipt of which is acknowledged, the parties hereto agree as follows: 
  
 1. Grant of Shares. 
  
 The Company hereby grants
to the Participant, subject to the terms and conditions set forth in this Agreement and in the Company’s 2000 Stock Incentive Plan (the “Plan”),
[                    ] shares (the “Shares”) of common stock, $0.01 par value, of the Company (“Common Stock”). The
Participant agrees that the Shares shall be subject to forfeiture as set forth in Section 2 of this Agreement and the restrictions on transfer set forth in Section 3 of this Agreement. 
  
 2. Forfeiture. 
  
 (a) In the event that the Participant ceases to be employed by the Company for any reason or no reason, with or without cause, prior to
September 2, 2006, all of the Unvested Shares (as defined below) shall be forfeited. 
  
 “Unvested Shares” means the total number of Shares multiplied by the Applicable Percentage at the time the Participant ceases to be employed by the Company. The “Applicable Percentage” shall be (i)
100% during the 12-month period ending September 1, 2004, (ii) 66.67% during the 12-month period ending September 1, 2005, (iii) 33.33% during the 12-month period ending September 1, 2006 and (iv) zero after September 1, 2006. 
  
 (b) For purposes of this Agreement, employment with the
Company shall include employment with a parent or subsidiary of the Company. 
  
 3. Restrictions on Transfer. 
  
 The Participant shall not sell, assign, transfer, pledge, hypothecate or otherwise dispose of, by operation of law or otherwise (collectively “transfer”) any Shares, or any interest therein, that would be Unvested Shares if the
Participant were to cease to be employed by the Company at the time of the transfer, except that the Participant may transfer such Shares (i) to or for the benefit of any spouse, children, parents, uncles, aunts, siblings, grandchildren and any
other relatives approved by the Board of Directors (collectively, “Approved Relatives”) or to a trust established solely for the benefit of the Participant and/or Approved Relatives, provided that such Shares shall remain subject to
this Agreement (including without limitation the forfeiture provisions of Section 2 and the restrictions on transfer set forth in this Section 3) and such 








 
permitted transferee shall, as a condition to such transfer, deliver to the Company a written instrument confirming that such transferee shall be bound by
all of the terms and conditions of this Agreement or (ii) as part of the sale of all or substantially all of the shares of capital stock of the Company (including pursuant to a merger or consolidation), provided that, in accordance with the
Plan, the securities or other property received by the Participant in connection with such transaction shall remain subject to this Agreement. 
  
 4. Escrow. 
  
 The Participant shall, upon the execution of this Agreement, execute Joint Escrow Instructions in the form attached to this Agreement as Exhibit A.
The Joint Escrow Instructions shall be delivered to the Assistant Secretary of the Company, as escrow agent thereunder. The Participant shall deliver to such escrow agent a stock assignment duly endorsed in blank, in the form attached to this
Agreement as Exhibit B, and hereby instructs the Company to deliver to such escrow agent, on behalf of the Participant, the certificate(s) evidencing the Shares issued hereunder. Such materials shall be held by such escrow agent pursuant to
the terms of such Joint Escrow Instructions. 
  
 5. Restrictive
Legends. 
  
 All certificates representing Shares shall have
affixed thereto a legend in substantially the following form, in addition to any other legends that may be required under federal or state securities laws: 
  
 “The shares of stock represented by this certificate are subject to restrictions on transfer and a risk of forfeiture as set forth in a certain
Restricted Stock Agreement between the corporation and the registered owner of these shares (or his or her predecessor in interest), and such Agreement is available for inspection without charge at the office of the Secretary of the
corporation.” 
  
 6. Provisions of the Plan.

  
 (a) This Agreement is subject to the
provisions of the Plan, a copy of which is furnished to the Participant with this Agreement. 
  
 (b) As provided in the Plan, upon the occurrence of a Reorganization Event (as defined in the Plan), all rights of the Company hereunder
shall inure to the benefit of the Company’s successor and shall apply to the cash, securities or other property which the Shares were converted into or exchanged for pursuant to such Reorganization Event in the same manner and to the same
extent as they applied to the Shares under this Agreement. If, in connection with a Reorganization Event, a portion of the cash, securities and/or other property received upon the conversion or exchange of the Shares is to be placed into escrow to
secure indemnification or similar obligations, the mix between the vested and unvested portion of such cash, securities and/or other property that is placed into escrow shall be the same as the mix between the vested and unvested portion of such
cash, securities and/or other property that is not subject to escrow. 
  

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 7. Withholding Taxes; Section 83(b) Election. 
  
 (a) The Participant acknowledges and agrees that the Company
has the right to deduct from payments of any kind otherwise due to the Participant any federal, state or local taxes of any kind required by law to be withheld with respect to the lapse or partial lapse of the risk of forfeiture. 
  
 (b) The Participant has reviewed with the Participant’s
own tax advisors the federal, state, local and foreign tax consequences of this investment and the transactions contemplated by this Agreement. The Participant is relying solely on such advisors and not on any statements or representations of the
Company or any of its agents. The Participant understands that the Participant (and not the Company) shall be responsible for the Participant’s own tax liability that may arise as a result of the transactions contemplated by this Agreement. The
Participant understands that it may be beneficial in many circumstances to elect to be taxed at the time the Shares are granted rather than when and as the risk of forfeiture lapses by filing an election under Section 83(b) of the Code with the
I.R.S. within 30 days from the date of grant. 
  
 THE PARTICIPANT ACKNOWLEDGES THAT IT IS THE PARTICIPANT’S SOLE RESPONSIBILITY AND NOT THE COMPANY’S TO FILE TIMELY THE ELECTION UNDER SECTION 83(b), EVEN IF THE PARTICIPANT REQUESTS THE COMPANY OR ITS REPRESENTATIVES TO MAKE THIS
FILING ON THE PARTICIPANT’S BEHALF. 
  
 8.
Miscellaneous. 
  
 (a) No Rights to
Employment. The Participant acknowledges and agrees that the vesting of the Shares pursuant to Section 2 hereof is earned only by continuing service as an employee at the will of the Company (not through the act of being hired or being granted
shares hereunder). The Participant further acknowledges and agrees that the transactions contemplated hereunder and the vesting schedule set forth herein do not constitute an express or implied promise of continued engagement as an employee or
consultant for the vesting period, for any period, or at all. 
  
 (b) Severability. The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, and each other provision of this
Agreement shall be severable and enforceable to the extent permitted by law. 
  
 (c) Waiver. Any provision for the benefit of the Company contained in this Agreement may be waived, either generally or in any particular instance, by the Board of Directors of the Company. 
  
 (d) Binding Effect. This Agreement shall be binding
upon and inure to the benefit of the Company and the Participant and their respective heirs, executors, administrators, legal representatives, successors and assigns, subject to the restrictions on transfer set forth in Section 3 of this Agreement.

  

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 (e) Notice. All notices required or permitted hereunder shall be in writing and
deemed effectively given upon personal delivery or five days after deposit in the United States Post Office, by registered or certified mail, postage prepaid, addressed to the other party hereto at the address shown beneath his or its respective
signature to this Agreement, or at such other address or addresses as either party shall designate to the other in accordance with this Section 8(e). 
  
 (f) Pronouns. Whenever the context may require, any pronouns used in this Agreement shall include the corresponding masculine,
feminine or neuter forms, and the singular form of nouns and pronouns shall include the plural, and vice versa. 
  
 (g) Entire Agreement. This Agreement and the Plan constitute the entire agreement between the parties, and supersedes all prior
agreements and understandings, relating to the subject matter of this Agreement. 
  
 (h) Amendment. This Agreement may be amended or modified only by a written instrument executed by both the Company and the
Participant. 
  
 (i) Governing Law. This
Agreement shall be construed, interpreted and enforced in accordance with the internal laws of the State of Delaware without regard to any applicable conflicts of laws. 
  
 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written. 

 

	 CMGI, Inc.

		
	 By:
	 	 
	 	

	 Name:
	 	 
	 Title:
	 	 
	
	 
	

	 [Name of Participant]

		
	 Address:
	 	 
	 	

	 	 	 
	 	



  

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 Exhibit A 
  
 CMGI, Inc. 
  
 Joint Escrow Instructions 
  
 September 2, 2003 
  
 Assistant Secretary

 CMGI, Inc. 
 425 Medford Street 
 Charlestown, MA 02129 
  
 Dear Sir: 
  
 As Escrow Agent for
CMGI, Inc., a Delaware corporation, and its successors in interest under the Restricted Stock Agreement (the “Agreement”) of even date herewith, to which a copy of these Joint Escrow Instructions is attached (the “Company”), and
the undersigned person (“Holder”), you are hereby authorized and directed to hold the documents delivered to you pursuant to the terms of the Agreement in accordance with the following instructions: 
  
 1. Appointment. Holder irrevocably authorizes the Company to deposit
with you any certificates evidencing Shares (as defined in the Agreement) to be held by you hereunder and any additions and substitutions to said Shares. For purposes of these Joint Escrow Instructions, “Shares” shall be deemed to include
any additional or substitute property. Holder does hereby irrevocably constitute and appoint you as his attorney-in-fact and agent for the term of this escrow to execute with respect to such Shares all documents necessary or appropriate to make such
Shares negotiable and to complete any transaction herein contemplated. Subject to the provisions of this paragraph 1 and the terms of the Agreement, Holder shall exercise all rights and privileges of a stockholder of the Company while the Shares are
held by you. 
  
 2. Forfeiture. 
  
 Upon any forfeiture of the Shares pursuant to the Agreement, the Company
shall give to Holder and you a written notice of forfeiture. Holder and the Company hereby irrevocably authorize and direct you to deliver the forfeited Shares to the Company in accordance with the terms of said notice. 
  
 3. Withdrawal. The Holder shall have the right to withdraw from this
escrow any Shares that are not Unvested Shares (as defined in the Agreement). 
  

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 4. Duties of Escrow Agent. 
  
 (a) Your duties hereunder may be altered, amended, modified or revoked only by a writing signed by all of
the parties hereto. 
  
 (b) You shall be
obligated only for the performance of such duties as are specifically set forth herein and may rely and shall be protected in relying or refraining from acting on any instrument reasonably believed by you to be genuine and to have been signed or
presented by the proper party or parties. You shall not be personally liable for any act you may do or omit to do hereunder as Escrow Agent or as attorney-in-fact of Holder while acting in good faith and in the exercise of your own good judgment,
and any act done or omitted by you pursuant to the advice of your own attorneys shall be conclusive evidence of such good faith. 
  
 (c) You are hereby expressly authorized to disregard any and all warnings given by any of the parties hereto or by any other person or
Company, excepting only orders or process of courts of law, and are hereby expressly authorized to comply with and obey orders, judgments or decrees of any court. In case you obey or comply with any such order, judgment or decree of any court, you
shall not be liable to any of the parties hereto or to any other person, firm or Company by reason of such compliance, notwithstanding any such order, judgment or decree being subsequently reversed, modified, annulled, set aside, vacated or found to
have been entered without jurisdiction. 
  
 (d)
You shall not be liable in any respect on account of the identity, authority or rights of the parties executing or delivering or purporting to execute or deliver the Agreement or any documents or papers deposited or called for hereunder. 

 
 (e) You shall be entitled to employ such legal counsel
and other experts as you may deem necessary properly to advise you in connection with your obligations hereunder and may rely upon the advice of such counsel. 
  

(f) Your rights and responsibilities as Escrow Agent hereunder shall terminate if (i) you cease to be Assistant Secretary of the
Company or (ii) you resign by written notice to each party. In the event of a termination under clause (i), your successor as Assistant Secretary shall become Escrow Agent hereunder; in the event of a termination under clause (ii), the Company shall
appoint a successor Escrow Agent hereunder. 
  
 (g) If you reasonably require other or further instruments in connection with these Joint Escrow Instructions or obligations in respect hereto, the necessary parties hereto shall join in furnishing such instruments. 
  
 (h) It is understood and agreed that should any dispute
arise with respect to the delivery and/or ownership or right of possession of the securities held by you hereunder, you are authorized and directed to retain in your possession without liability to anyone all or any part of said securities until
such dispute shall have been settled either by mutual written agreement of the parties concerned or by a final order, decree or judgment of a court of competent jurisdiction after the time for appeal has expired and no appeal has been perfected, but
you shall be under no duty whatsoever to institute or defend any such proceedings. 
  

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 (i) These Joint Escrow Instructions set forth your sole duties with respect to any and
all matters pertinent hereto and no implied duties or obligations shall be read into these Joint Escrow Instructions against you. 
  
 (j) The Company shall indemnify you and hold you harmless against any and all damages, losses, liabilities, costs, and expenses, including
attorneys’ fees and disbursements, for anything done or omitted to be done by you as Escrow Agent in connection with this Agreement or the performance of your duties hereunder, except such as shall result from your gross negligence or willful
misconduct. 
  
 5. Notice. Any notice required or permitted
hereunder shall be given in writing and shall be deemed effectively given upon personal delivery or upon deposit in the United States Post Office, by registered or certified mail with postage and fees prepaid, addressed to each of the other parties
thereunto entitled at the following addresses, or at such other addresses as a party may designate by ten days’ advance written notice to each of the other parties hereto. 
  

	 COMPANY:
	 	Notices to the Company shall be sent to the address set forth in the salutation hereto, Attn: President
		
	 HOLDER:
	 	Notices to Holder shall be sent to the address set forth below Holder’s signature below.
		
	 ESCROW AGENT:
	 	Notices to the Escrow Agent shall be sent to the address set forth in the salutation hereto.

  
 6.
Miscellaneous. 
  
 (a) By signing these
Joint Escrow Instructions, you become a party hereto only for the purpose of said Joint Escrow Instructions, and you do not become a party to the Agreement. 
  
 (b) This instrument shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted
assigns. 
  
 * * * * * 
  

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	 Very truly yours,

	
	 CMGI, Inc.

		
	 By:
	 	 
	 	

	 Name:
	 	 
	 Title:
	 	 
	
	 HOLDER:

	
	 
	

	(Signature)
	
	 
	

	 Print Name

		
	 Address:
	 	 
	 	

	 	 	 
	 	

	
	 Date Signed:
                                        
                                     



  
  

	 ESCROW AGENT:

	
	  
	


  

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 Exhibit B 
  
 (STOCK ASSIGNMENT SEPARATE FROM CERTIFICATE) 
  
 FOR VALUE RECEIVED, I hereby sell, assign and transfer unto CMGI, Inc.
                                
(                    ) shares of Common Stock, $0.01 par value per share, of CMGI, Inc. (the “Corporation”) standing in my name on
the books of the Corporation represented by Certificate(s) Number                  herewith, and do hereby irrevocably constitute and appoint
                                        
as attorney to transfer the said stock on the books of the Corporation with full power of substitution in the premises. 
  
 Dated:
                                 
  

	 IN PRESENCE OF:
	  	 
	 	


  

	
	  
	


  
 NOTICE: The signature(s) to this
assignment must correspond with the name as written upon the face of the certificate, in every particular, without alteration, enlargement, or any change whatever and must be guaranteed by a commercial bank, trust company or member firm of the
Boston, New York or Midwest Stock Exchange. 
  

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 This Form of Restricted Stock Agreement Granted Under 2000 Stock Incentive Plan was entered into on September 2, 2003 by
and between CMGI, Inc. and each of the following executive officers of CMGI, Inc.: 
  

	 Name

	  	Number of Shares


	 George A. McMillan
	  	140,000
	 Thomas Oberdorf
	  	100,000
	 Peter L. Gray
	  	80,000
	 Bryce C. Boothby, Jr.
	  	100,000

  

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