Document:

NATIONAL RESEARCH
CORPORATION 

NONQUALIFIED STOCK
OPTION AGREEMENT  
(Officers)  

        THIS
AGREEMENT, made and entered into as of this ____ day of _________, 20__ (the
“Grant Date”), by and between NATIONAL RESEARCH CORPORATION, a Wisconsin
corporation (the “Company”), and _____________ (the
“Optionee”). 

W I T N E S S E T H : 

        WHEREAS,
the Company has adopted the National Research Corporation 2001 Equity Incentive Plan (the
“Plan”) to permit options to purchase shares of the Company’s common stock,
$.001 par value (“Common Stock”), to be granted to employees of the Company and
its Affiliates. 

        WHEREAS,
the Optionee is employed by the Company in a key capacity and the Company desires him or
her to remain in such employ and to secure or increase his or her stock ownership in the
Company in order to increase his or her incentive and personal interest in the welfare of
the Company; and 

        WHEREAS,
the option granted under this Agreement is not intended to constitute an incentive stock
option (“Nonqualified Stock Option”), as defined in Section 422 of the
Internal Revenue Code of 1986, as amended (the “Code”). 

        NOW,
THEREFORE, in consideration of the premises and of the covenants and agreements herein
set forth, the parties hereby mutually covenant and agree as follows: 

        1.    Grant.
Subject to the terms and conditions of the Plan and this           Agreement, the
Company hereby grants to the Optionee a Nonqualified Stock Option           to purchase
from the Company all, or any part, of the aggregate number of shares           of Common
Stock set forth on the signature page hereof (hereinafter referred to           as the
“Optioned Shares,” and the option to purchase the Optioned           Shares
referred to as the “Option”).  

        2.    Option
Price. The price to be paid for the Optioned Shares shall           be the
closing price per share of Common Stock on the Grant Date as reported on           the
Nasdaq National Market, which has been determined by the Committee to be not
          less than 100% of the fair market value of such stock on the Grant Date.  

        3.    Term. Subject
to the provisions of paragraph 6, the Option           shall expire on the date ten
years after the Grant Date and shall not be           exercisable thereafter.  

        4.    Time
of Exercise. Except as otherwise provided herein, the Option           shall
fully vest and become fully exercisable on the date five years after the           Grant
Date.  

        5.    Manner
of Exercise and Payment. After the Option has vested, the           Optionee may,
subject to the limitations of this Agreement, exercise all or any           portion of
the Option by providing written notice to the Company of the           Optionee’s
intent to exercise the Option, delivered to the Secretary of the           Company at its
principal office, specifying the number of shares with respect to           which the
Option is being exercised, accompanied by payment for such shares:           (a) in
cash or its equivalent; (b) by tendering previously acquired           shares of
Common Stock that the Optionee has held for at least six months or has
          purchased on the market (valued at their fair market value on the exercise date
          as determined under procedures adopted by the Committee); (c) by any
          combination of (a) and (b); or (d) by delivery (including by facsimile) to the
          Company or its designated agent of an executed irrevocable option exercise form
          together with irrevocable instructions to a broker-dealer to sell or margin a
          sufficient portion of the shares and deliver the sale or margin loan proceeds
          directly to the Company to pay for the Option price.  

        6.    Termination
of Employment. 

            (a)              If
the employment of Optionee terminates by reason of death or disability, as
          determined by the Committee, then, notwithstanding the provisions of
          paragraph 4, the Option shall be 100% vested on the date of termination of
          the Optionee’s employment, and the Optionee (or his or her personal
          representative) may exercise the Option or any portion thereof during the
period           of twelve (12) months after termination of the Optionee’s
employment; provided, however, that the Option shall not be exercisable after it
has           expired pursuant to paragraph 3 hereof.  

            (b)              If
the employment of Optionee is terminated for any reason other than death or
          disability, the Option, if not then vested, shall immediately terminate. If the
          Options has vested pursuant to paragraph 4 hereof at the time of
          Optionee’s termination, then Optionee (or his or her personal
          representative) may exercise the Option during the period of (i) in the
          case of termination for any reason other than death, disability or retirement,
          90 days after the date of such termination of employment and not thereafter,
and           (ii) in the case of termination by reason of retirement, as determined
by           the Committee, twelve (12) months after the date of such termination of
          employment and not thereafter; provided, however, that the Option shall
          not be exercisable after it has expired pursuant to paragraph 3 hereof.  

        7.    Nontransferability
of Option. Except as may be otherwise provided           by the Committee, the
Option is not transferable by the Optionee otherwise than           by will or the laws
of descent and distribution and is exercisable during the           Optionee’s
lifetime only by the Optionee.  

        8.    Tax
Withholding. 

            (a)              It
shall be a condition of the obligation of the Company to issue or transfer
          shares of Common Stock upon exercise of the Option, and to issue or transfer
any           other shares of Common Stock to the Optionee pursuant to the Plan or any
other           agreements entered into between the Optionee and the Company thereunder,
that           the Optionee shall pay to the Company upon its demand, or agree that the
Company           may withhold from compensation due the Optionee, such amount as may be
requested           by the Company for the purpose of satisfying its liability to
withhold federal,           state or local income or other taxes incurred by reason of
the exercise of the           Option. If the Optionee fails to comply with this Section 8,
the Company           may refuse to issue or transfer shares of Common Stock upon
exercise of the           Option.  

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            (b)              The
Optionee may elect to have the Company withhold that number of Optioned           Shares
otherwise issuable to the Optionee upon exercise of the Option or to           deliver to
the Company a number of shares of Common Stock that the Optionee has           held for
at least six months or has purchased on the market, in each case,           having a fair
market value on the exercise date as determined under procedures           adopted by the
Committee, equal to the minimum amount required to be withheld as           a result of
such exercise. The election must be made in writing and delivered to           the
Company on or prior to the date of exercise.  

        9.    Capital
Adjustments Affecting Stock. In the event of a capital           adjustment
resulting from a stock dividend (other than a stock dividend in lieu           of an
ordinary cash dividend), return of capital dividend, stock split,           spin-off,
reorganization, recapitalization, merger, consolidation, combination           or
exchange of shares or the like, the Optioned Shares shall be adjusted in a
          manner consistent with such capital adjustment; provided, however, that
          no such adjustment shall require the Company to sell any fractional shares and
          the adjustment shall be limited accordingly. The price of any shares under the
          Option shall be adjusted such that there will be no change in the aggregate
          purchase price payable upon exercise of the Option. The determination of the
          Committee as to any adjustment shall be final.  

        10.    Restriction
on Transfer of Common Stock. The shares to be acquired           upon exercise of
the Option may not be sold or offered for sale except           (a) pursuant to an
effective registration statement under the Securities           Act of 1933, as amended
(the “Act”), and any applicable state           securities laws, (b) in a
transaction satisfying the requirements of           Rule 144 promulgated under the
Act or (c) in a transaction which, in           the opinion of counsel for the
Company, is exempt from the registration           provisions of the Act and applicable
state securities laws.  

        11.    Rights
as Shareholder. The Optionee shall not be deemed for any           purposes to be
a shareholder of the Company with respect to any of the Optioned           Shares except
to the extent that the Option shall have been exercised, such           shares shall have
been fully paid, and a stock certificate issued therefor.  

        12.    Power
of Company Not Affected. The existence of the Option shall           not affect
in any way the right or power of the Company or its shareholders 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 prior preference stock ahead of or affecting the Common Stock or           the rights
thereof, or dissolution or liquidation of the Company, or any sale or           transfer
of all or any part of its assets or business, or any other corporate           act or
proceeding, whether of a similar character or otherwise. Nothing in this
          Agreement shall confer upon the Optionee any right to continue in the
employment           of the Company or any Affiliate.  

        13.    Interpretation
by Committee. As a condition of the granting of the           Option, the
Optionee agrees, for the Optionee and his or her personal           representatives, that
this Agreement shall be interpreted by the Committee and           that any
interpretation by said Committee of the terms of this Agreement and any
          determination made by the Committee pursuant to this Agreement shall be final,
          binding and conclusive.  

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        14.    Amendment
or Modification. No term or provision of this Agreement           may be amended,
modified or supplemented orally, but only by an instrument in           writing signed by
the party against which or whom the enforcement of the           amendment, modification
or supplement is sought.  

        15.    The
Plan. The Option is granted under and pursuant to the Plan,           which shall
govern all rights, interests, obligations and understandings of both           the
Company and the Optionee. All capitalized terms not otherwise defined herein
          shall have the meanings assigned to such terms in the Plan.  

        16.    Effective
Date. The Option granted under this Agreement shall be           effective on its
Grant Date.  

        17.    Governing
Law. This Agreement shall be governed by the internal           laws of the State
of Nebraska as to all matters, including but not limited to           matters of
validity, construction, effect, performance and remedies.  

        18.    Requirements
of Law. The issuance of shares of Common Stock upon           the exercise of the
Option shall be subject to all applicable laws, rules and           regulations and to
such approvals by any governmental agencies or national           securities exchanges or
markets as may be required.  

        IN
WITNESS WHEREOF, the Company has caused this instrument to be executed by its duly
authorized officer, and the Optionee has executed this Agreement as of the day and year
first above written. 

		
		NATIONAL RESEARCH CORPORATION
	

	By:_______________________________________
		      Title: President
	

 	OPTIONEE:
	

 	_________________________________________
		[Name]
Number of Optioned Shares: ____

- 4 -NATIONAL RESEARCH
CORPORATION 

RESTRICTED STOCK
AGREEMENT  
(Officers)  

        THIS
AGREEMENT, made and entered into as of this ____ day of _________, 20__ (the
“Grant Date”), by and between NATIONAL RESEARCH CORPORATION, a Wisconsin
corporation (the “Company”), and _____________ (the
“Participant”). 

W I T N E S S E T H : 

        WHEREAS,
the Company has adopted the National Research Corporation 2001 Equity Incentive Plan (the
“Plan”) to permit awards of restricted shares of the Company’s common
stock, $.001 par value (“Common Stock”), to be granted to employees of the
Company and its Affiliates. 

        WHEREAS,
the Participant is employed by the Company in a key capacity and the Company desires him
or her to remain in such employ and to secure or increase his or her stock ownership in
the Company in order to increase his or her incentive and personal interest in the welfare
of the Company. 

        NOW,
THEREFORE, in consideration of the premises and of the covenants and agreements herein
set forth, the parties hereby mutually covenant and agree as follows: 

        1.    Grant.
Subject to the terms and conditions of the Plan and this           Agreement, the
Company hereby grants to the Participant the aggregate number of           restricted
shares of Common Stock set forth on the signature page hereof           (hereinafter
referred to as the “Restricted Shares”).  

        2.    Restrictions
on Transfer. The Restricted Shares may not be sold,           assigned,
transferred, pledged or otherwise encumbered until the expiration of           the period
beginning on the Grant Date and ending on the date one year after the           Grant
Date (the “Restricted Period”) or, if earlier, until the           Participant
is vested in the Restricted Shares pursuant to paragraph 3(a).  

        3.    Termination
of Employment. 

            (a)              If
the employment of Participant terminates by reason of death or disability, as
          determined by the Committee prior to the end of the Restricted Period, then,
          notwithstanding the provisions of subparagraph (b), the Participant shall
          be 100% vested in the Restricted Shares on the date of termination of the
          Participant’s employment.  

            (b)              If
the employment of Participant is terminated for any reason other than death           or
disability prior to the end of the Restricted Period, then the Restricted
          Shares shall immediately be forfeited by Participant to the Company.  

        4.    Rights
as Shareholder. The Participant shall be entitled to           receive any
dividends paid with respect to the Restricted Shares that becomes           payable
during the Restricted Period; provided, however, that no dividends shall           be
payable to or for the benefit of the Participant for Restricted Shares with
          respect to record dates occurring prior to the Grant Date, or with respect to
          record dates occurring on or after the date, if any, on which the Participant
          has forfeited those Restricted Shares. The Participant shall be entitled to
vote           the Restricted Shares during the Restricted Period; provided, however,
that the           Participant shall not be entitled to vote the Restricted Shares with
respect to           record dates for such voting rights arising prior to the Grant Date,
or with           respect to record dates occurring on or after the date, if any, on
which the           Participant has forfeited those Restricted Shares.  

        5.    Deposit
of Restricted Shares. Each certificate issued in           respect of
Restricted Shares granted under this Agreement shall be registered in           the name
of the Participant and shall be deposited with a bank or broker-dealer
          designated by the Committee. The grant of Restricted Shares is conditioned upon
          the Participant endorsing in blank a stock power for the Restricted Shares.  

        6.    Interpretation
by Committee. As a condition of the granting of the           Restricted Shares
the Participant agrees, for the Participant and his or her           personal
representatives, that this Agreement shall be interpreted by the           Committee and
that any interpretation by said Committee of the terms of this           Agreement and
any determination made by the Committee pursuant to this Agreement           shall be
final, binding and conclusive.  

        7.    Amendment
or Modification. No term or provision of this Agreement           may be amended,
modified or supplemented orally, but only by an instrument in           writing signed by
the party against which or whom the enforcement of the           amendment, modification
or supplement is sought.  

        8.    The
Plan. The Restricted Shares are granted under and pursuant to           the Plan,
which shall govern all rights, interests, obligations and           understandings of
both the Company and the Participant. All capitalized terms           not otherwise
defined herein shall have the meanings assigned to such terms in           the Plan.  

        9.    Effective
Date. The award of Restricted Shares granted under this           Agreement shall
be effective on its Grant Date.  

        10.    Governing
Law. This Agreement shall be governed by the internal           laws of the State
of Nebraska as to all matters, including but not limited to           matters of
validity, construction, effect, performance and remedies.  

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        11.    Requirements
of Law. The issuance of Restricted Shares shall be           subject to all
applicable laws, rules and regulations and to such approvals by           any
governmental agencies or national securities exchanges or markets as may be
          required.  

        IN
WITNESS WHEREOF, the Company has caused this instrument to be executed by its duly
authorized officer, and the Participant has executed this Agreement as of the day and year
first above written. 

		
		NATIONAL RESEARCH CORPORATION
	

	By:_______________________________________
		      Title: President
	

 	PARTICIPANT:
	

 	_________________________________________
		[Name]
Number of Restricted Shares: ____

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