Document:

Exhibit 10.10

 

INTERNAP NETWORK SERVICES CORPORATION

2014 STOCK INCENTIVE PLAN

STOCK GRANT CERTIFICATE

1.           Award of Stock Units. Internap Network Services Corporation (the “Company”) hereby awards to the employee or director (“Participant”) named in the Notice of Grant of Stock Award (“Notice”), the total number of RSUs set forth on the Notice (the “Award”), subject to the terms, definitions and provisions of the Internap Network Services Corporation 2014 Stock Incentive Plan (the “Plan”), which is incorporated herein by reference, and the terms of this Stock Grant Certificate (the “Certificate”) and Plan Prospectus. Unless otherwise defined herein, terms not defined in this Certificate shall have the meanings ascribed to them in the Plan. In the event of a conflict between the terms and conditions of the Plan and those of this Certificate, the terms and conditions of the Plan shall prevail.

 

2.           Terms of Award.

 

2.1           Lapsing of Restrictions. Subject to the limitations contained herein, the restrictions on the Award shall lapse, and the Award shall vest, as provided in the Notice, provided that vesting shall cease upon the termination of Participant’s status as an Eligible Employee or a Director. The period during which the RSUs are subject to restrictions imposed by the Plan and this Certificate shall be known as the “Restricted Period.” The RSUs will be converted to shares of Company Stock on a one-for-one basis promptly after the Award vests (but in no event later than the 15th day of the third month after the vesting date). No Stock will be issued if the RUSs do not vest.

 

2.2           Forfeiture. Simultaneously with termination of Participant’s status as an Eligible Employee or a Director, Participant shall automatically forfeit any remaining unvested RSUs and relinquish any rights in the unvested RSUs and the Stock underlying the unvested RSUs.

 

2.3           Number of Shares of Stock. The RSUs and the number of shares of Stock underlying the Award may be adjusted from time-to-time as provided in Section 13 of the Plan.

 

3.           Registration and Listing; Securities Laws.

 

3.1           Registration and Listing. The Award is conditional upon (a) the effective registration or exemption of the Plan and the Stock underlying the RSUs under the Securities Act of 1933 and applicable state or foreign securities laws, and (b) the effective listing of the stock on The Nasdaq Stock Market, or the Company’s then-current exchange of listing.

 

3.2           Securities Laws. By accepting the Award, Participant represents and warrants that Participant is acquiring the RSUs and any Stock issued thereunder as awarded under the Notice and this Certificate for Participant’s own account and investment and without any intent to resell or distribute the Stock.

 

4.           Rights as a Stockholder. During the Restricted Period, Participant shall have no voting, dividend, liquidation and other rights with respect to the Stock underlying the RSUs until the RSUs vest and the RSUs are converted to shares of unrestricted Stock. The RSUs shall be subject to any restrictions on transferability or risks of forfeiture imposed pursuant to the Plan, the Notice or this Certificate. After the restrictions applicable to the RSUs lapse and the RSUs are converted to Shares, Participant shall have all stockholder rights, including the right to transfer the Shares, subject to such conditions as the Company may reasonably specify to ensure compliance with federal and state securities laws.

 

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5.             No Obligation to Employ; Voluntary Participation. Nothing in this Certificate or the Plan shall confer on Participant any right to continue in the employ of, or other relationship with, the Company or an affiliate, or limit in any way the right of the Company to terminate Participant’s employment or other relationship at any time, with or without cause. By accepting this Award, Participant acknowledges and agrees that Participant’s participation in the Plan is voluntary and has not been induced by expectation of employment, appointment, continued employment or continued appointment, as applicable.

 

6.             Withholding. The Company shall be entitled to (a) withhold and deduct from Participant’s future wages (or from other amounts that may be due and owing to Participant from the Company), or make other arrangement for the collection of, all legally required amounts necessary to satisfy any and all federal, provincial, state and local withholding and employment-related tax requirements attributable to the RSUs or Stock issued upon vesting of the RSUs under this Certificate, including, without limitation, the award or vesting of the Stock units or the issuance of the Stock; or (b) require Participant promptly to remit the amount of such withholding to the Company before taking any action with respect to the RSUs. Unless the Company’s Compensation Committee provides otherwise, withholding may be satisfied by withholding common stock to be received or by delivery to the Company of previously-owned common stock of the Company. Unless the tax withholding obligations of the Company are satisfied, the Company shall have no obligation to issue a certificate for such Shares or release such Shares from any escrow provided for herein.

 

7.             Transferability. Until the restrictions lapse as set forth herein and the RSUs are converted to Stock, the RSUs may not be transferred in any manner otherwise than by will or by the laws of descent and distribution. All rights with respect to the RSUs are exercisable during Participant’s lifetime only by Participant.

 

8.             Interpretation. Any dispute regarding the interpretation of this Certificate shall be submitted by Participant or the Company to the Compensation Committee for review. The resolution of such a dispute by the Compensation Committee shall be final and binding on the Company and Participant.

 

9.             Governing Law. This Certificate shall be governed by and construed according to the laws of the State of Delaware without regard to its principles of conflict of laws.

 

10.           Entire Agreement. The Plan, Notice and Prospectus are hereby incorporated by reference and made a part hereof. This Certificate, Plan, Notice and Prospectus constitute the entire agreement of the parties and supersede all prior undertakings and agreements with respect to the subject matter hereof.

11.           Successors and Assigns. The Company may assign any of its rights under this Certificate. This Certificate shall be binding upon and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein, this Certificate shall be binding upon Participant and Participant’s heirs, executors, administrators, legal representatives, successors and assigns.

 

12.           Amendments. This Certificate may be amended or modified at any time only by an instrument in writing signed by each of the parties hereto.

13.           Language. The parties hereto have expressly requested that this Certificate, all documents incorporated herein by reference, any notices or other documents to be given under such Certificate and other documents related thereto be drawn up in the English language. Les parties aux 

 

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présentes ont expressément exigé que le présent certificat et tous les documents qui y sont incorporés par renvoi, ainsi que tout avis donné en vertu dudit certificat ou tout autre document qui s’y rapporte, soient rédigés en anglais.

14.           Acceptance. By executing the Notice, Participant acknowledges receipt of a copy of the Plan, Notice and Prospectus and this Certificate and that Participant has read and understands the terms and provisions hereof and thereof, and accepts the Award subject to all the terms and conditions of the Plan, Notice and Prospectus and this Certificate. Participant acknowledges that there may be adverse tax consequences upon acceptance of the Award and that Participant should consult a tax adviser prior to such exercise or disposition.

 

    	-3-Exhibit 10.11

 

INTERNAP NETWORK SERVICES CORPORATION

2014 STOCK INCENTIVE PLAN

 

STOCK OPTION CERTIFICATE (Canada)

 

1.           Grant of Option. Internap Network Services Corporation, a Delaware corporation (the “Company”), hereby grants to the optionee (“Optionee”) named in the Notice of Grant of Stock Option (the “Notice”), an option (the “Option”) to purchase the total number of shares of stock (the “Shares”) set forth in the Notice, at the exercise price per share (the “Exercise Price”) set forth in the Notice, subject to the terms, definitions and provisions of the Internap Network Services Corporation 2014 Stock Incentive Plan (the “Plan”), which is incorporated herein by reference, and the terms of this Stock Option Certificate (the “Certificate”) and Plan Prospectus. Unless otherwise defined herein, terms not defined in this Certificate shall have the meanings ascribed to them in the Plan. In the event of a conflict between the terms and conditions of the Plan and those of this Certificate, the terms and conditions of the Plan shall prevail. This Option is a non-qualified stock option and is not intended to qualify as an “incentive stock option” within the meaning of Section 422 of the Code.

 

2.           Vesting and Exercise Period.

2.1           Exercise Period of Option. An Option may only be exercised after it has vested. Provided Optionee is an Eligible Employee or a Director, an Option shall become exercisable as to portions of the Shares pursuant to the vesting schedule set forth in the Notice. Once vested, an Option may be exercised at any time on or before the expiration date set forth in the Notice (the “Expiration Date”) only in accordance with the Plan and the terms of this Certificate.

2.2           Expiration. In the event of Optionee’s death, disability or other termination of employment or service with the Company or an Affiliate, the exercisability of the Option is governed by Section 4 below. In no event may Optionee exercise this Option after the Expiration Date.

3.           Manner of Exercise.

 

3.1           Exercise Notification. To exercise this Option either through a cash or cashless exercise, Optionee must contact E*Trade Financial by accessing Optionee’s online account at www.etrade.com or by calling 1-800-838-0908. This Option shall be deemed to be exercised: (a) in the case of a cashless exercise, upon execution of the underlying trade or (b) in the case of a cash exercise, upon placement and acceptance of the trade order.

 

3.2           Tax Withholding. As a condition to the exercise of this Option, Optionee must make adequate provision for federal, state, provincial and other tax withholding obligations, if any, which arise upon the exercise of the Option or disposition of Shares, whether by withholding, direct payment to the Company or otherwise.

 

3.3           Limitations on Exercise. This Option may not be exercised unless such exercise is in compliance with all applicable federal, provincial and state securities laws, as they are in effect on the date of exercise. This Option may not be exercised for a fraction of a Share.

 

3.4           Payment. Payment of the Exercise Price and withholding taxes, as applicable, may be by any of the following, or a combination thereof, at the election of Optionee:

 

  (a)           cash;

 

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  (b)           check;

 

  (c)           surrender of other shares of Company common stock; or

 

  (d)           through a cashless exercise executed by E*Trade Financial whereby Optionee irrevocably elects to exercise the Option and to sell a portion of the Shares so purchased to pay for the exercise price and whereby E*Trade Financial commits upon receipt of such Shares to forward the Exercise Price directly to the Company.

3.5           Issuance of Shares. Provided that Optionee has satisfied the exercise notification procedure set forth above and payment in acceptable form has been made, the Company shall issue the Shares registered in the name of Optionee, Optionee’s authorized assignee or Optionee’s legal representative.

 

4.            Termination.

4.1           Termination for Any Reason Except Death or Disability. If Optionee’s employment with or service as a director to the Company or an Affiliate terminates for any reason other than death or disability, the Option, to the extent (and only to the extent) that it would have been exercisable by Optionee on the date of termination, may thereafter be exercised by Optionee no later than three (3) months after the date of termination, but in any event no later than the Expiration Date. For the purposes hereof, Optionee’s employment with the Company or an Affiliate shall be considered to have terminated effective on the date that is Optionee’s last day of actual and active employment with the Company or an Affiliate whether such day is selected by agreement with Optionee, unilaterally by the Company or an Affiliate and whether with or without advance notice to Optionee. For the avoidance of doubt, no period of notice or pay in lieu of notice that is given or that ought to have been given under applicable law in respect of such termination of employment that would extend beyond Optionee’s last day of actual and active employment will be utilized in determining entitlement under this Plan.

4.2           Termination Because of Death or Disability. If Optionee’s employment with or service as a director to the Company or an Affiliate terminates because of death or disability (defined in accordance with the terms of any long-term disability plan applicable to Optionee in place at the Company or an Affiliate) of Optionee, the Option, to the extent (and only to the extent) that it is exercisable by Optionee on the date of such termination, may thereafter be exercised by Optionee (or Optionee’s legal representative) no later than twelve (12) months after the date of such termination, but in any event no later than the Expiration Date.

 

4.3           No Obligation to Employ. Nothing in this Certificate or the Plan shall confer on Optionee any right to continue in the employ of, or other relationship with, the Company or an Affiliate, or limit in any way the right of the Company to terminate Optionee’s employment or other relationship at any time, with or without cause.

4.4           Employment Security Plan. In the event that Optionee participates in the Company’s Employment Security Plan (the “ESP”) or is a party to an Employment Security Agreement (an “ESA”) and there exists a conflict between the Plan or this Certificate and any term or condition of the ESP or ESA, as the case may be, the terms and conditions of the Plan or this Certificate shall prevail.

5.            Non-Transferability of Option. This Option may not be transferred in any manner otherwise than by will or by the laws of descent or distribution and may be exercised during the lifetime of Optionee only by Optionee. Notwithstanding the foregoing, the Optionee may, by delivering written 

 

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notice to the Company, in a form satisfactory to the Company, designate a beneficiary who, in the event of the death or disability of the Optionee, shall thereafter be entitled to exercise the Option.

 

6.             Voluntary Participation. By accepting this award, Optionee acknowledges and agrees that Optionee’s participation in the Plan is voluntary and has not been induced by expectation of employment, appointment, continued employment or continued appointment, as applicable.

7.             Rights as a Stockholder. Neither Optionee nor any of Optionee’s successors in interest shall have any rights as a stockholder of the Company with respect to any Shares subject to the Option until Optionee or Optionee’s successor in interest exercises the Option and pays the Exercise Price.

8.             Interpretation. Any dispute regarding the interpretation of this Certificate shall be submitted by Optionee or the Company to the Compensation Committee for review. The resolution of such a dispute by the Compensation Committee shall be final and binding on the Company and Optionee.

 

9.             Governing Law. This Certificate shall be governed by and construed according to the laws of the State of Delaware without regard to its principles of conflict of laws.

 

10.           Entire Agreement. The Plan, Notice and Prospectus are hereby incorporated by reference and made a part hereof. This Certificate, Plan, Notice and Prospectus constitute the entire agreement of the parties and supersede all prior undertakings and agreements with respect to the subject matter hereof.

11.           Successors and Assigns. The Company may assign any of its rights under this Certificate. This Certificate shall be binding upon and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein, this Certificate shall be binding upon Optionee and Optionee’s heirs, executors, administrators, legal representatives, successors and assigns.

 

12.           Amendments. This Certificate may be amended or modified at any time only by an instrument in writing signed by each of the parties hereto.

13.           Language. The parties hereto have expressly requested that this Certificate, all documents incorporated therein by reference, any notices or other documents to be given under such Certificate, and other documents related thereto be drawn up in the English language. Les parties aux présentes ont expressément exigé que le présent certificat et tous les documents qui y sont incorporés par renvoi, ainsi que tout avis donné en vertu dudit certificat ou tout autre document qui s’y rapporte, soient rédigés en anglais.

14.           Acceptance. By executing the Notice, Optionee acknowledges receipt of a copy of the Plan, Notice and Prospectus and this Certificate and that Optionee has read and understands the terms and provisions hereof and thereof, and accepts the Option subject to all the terms and conditions of the Plan, Notice and Prospectus and this Certificate. Optionee acknowledges that there may be adverse tax consequences upon exercise of the Option or disposition of the Shares and that Optionee should consult a tax adviser prior to such exercise or disposition.

 

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