Document:

Change in Control Severance Agreement

 Exhibit 10.2 
  
 CHANGE IN CONTROL SEVERANCE AGREEMENT 
  
 THIS CHANGE IN CONTROL SEVERANCE AGREEMENT (this “Agreement”) is entered into as of April 26, 2005, (the “Effective
Date”), by and between Bradley Sparks (“Executive”) and WatchGuard Technologies, Inc., a Delaware corporation, (the “Company”). 
  
 As of the Effective Date, Executive will serve as an employee of the Company in the position of Chief Financial Officer (“CFO”) with appropriate authority and
responsibilities for such role. As CFO, Executive shall report directly to the Company’s Chief Executive Officer. Executive’s office will be located in the Seattle, Washington area and Executive’s duties shall primarily be performed
there. Executive will earn an annual base salary of $220,000 (subject to adjustment in accordance with the Company’s policy), which shall cover all hours worked, payable in the time and manner that salary is paid by the Company to employees
generally, and subject to required tax withholding. Executive will be eligible to receive a bonus (if any) in accordance with the Company’s policy. 
  

	1.	Definitions. The following definitions shall apply for all purposes under this Agreement: 

  
 (a) Cause. “Cause” has the same meaning as in the Plan. 
  
 (b) Corporate Transaction. “Corporate Transaction” has the
same meaning as in the Plan. 
  
 (c) Good Reason.
“Good Reason” has the same meaning as in the Plan. 
  
 (d) Plan. “Plan” means the Company’s Amended and Restated 1996 Stock Incentive Compensation Plan. 
  
 (e) Total Disability. “Total Disability” shall be deemed to occur on the ninetieth (90th) consecutive or non-consecutive calendar day
within any twelve (12) month period that Executive is unable to perform his duties because of any mental or physical impairment of Executive which is expected to result in death or which has lasted or is expected to last for a continuous period of
12 months or more and which causes Executive to be unable, in the opinion of the Company, to perform his duties for the Company and to be engaged in any substantial gainful activity. 
  

	2.	Severance Payment. 

  
 (a) Executive shall be entitled to receive a severance payment from the Company (the “Severance Payment”) if within the first eighteen (18)
month period after the occurrence of a Corporate Transaction, either: 
  

	 	(i)	Executive resigns his employment for Good Reason within sixty (60) days after Executive becomes aware of the occurrence of an event specified in Section 1(c); or

	 	(ii)	The Company terminates Executive’s employment for any reason other than Cause, death or Total Disability. 

  
 For all purposes under this Agreement, the amount of the Severance Payment shall be equal to
one (1) times Executive’s annual base salary as in effect on the date of termination of Executive’s employment. The Severance Payment shall be paid to Executive in a single cash lump sum payment not later than seven (7) business days
following the date that the conditions in Section 2(c) with respect to the release of claims are satisfied. 
  
 The Severance Payment shall be in lieu of any other post-termination of employment payments or benefits. 
  
 (b) Mitigation. Except as may be expressly provided elsewhere in this Agreement, Executive shall not be required to mitigate the amount of any
payment or benefit contemplated by this Section 2 (whether by seeking new employment or in any other manner). No such payment shall be reduced by earnings that Executive may receive from any other source. Notwithstanding the foregoing, to the extent
Executive receives severance or similar payments and/or benefits under any other Company plan, program, agreement, policy, practice, or the like, not referenced herein, the Severance Payment due to Executive under this Agreement will be
correspondingly reduced (and vice-versa). 
  
 (c)
Conditions. All payments and benefits provided under this Section 2 are conditioned on Executive’s continuing compliance with this Agreement and the Company’s policies and Executive’s execution (and effectiveness) of a
severance agreement including a release of claims and covenant not to sue in a form reasonably acceptable to the Company. No Severance Payment shall be provided to Executive unless and until such severance agreement is effective. 
  

	3.	Tax Effect of Payments. 

  
 (a) Excise Taxes. In the event that it is determined that any payment or distribution of any type to or for the benefit of Executive made by the
Company, by any of its affiliates, by any person who acquires ownership or effective control of the Company or ownership of a substantial portion of the Company’s assets (within the meaning of section 280G of the Internal Revenue Code of 1986,
as amended, and the regulations thereunder (the “Code”)) or by any affiliate of such person, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise (the “Total Payments”),
would be subject to the excise tax imposed by section 4999 of the Code or any interest or penalties with respect to such excise tax (such excise tax, together with any such interest or penalties, are collectively referred to as the “Excise
Tax”), then such payments or distributions shall be payable either (x) in full or (y) as to such lesser amount which would result in no portion of such payments or distributions being subject to the Excise Tax and Executive shall receive the
greater, on an after-tax basis, of (x) or (y) above. 
  
 (b)
Determination by Auditors. All mathematical determinations and all determinations of whether any of the Total Payments are “parachute payments” (within the meaning of section 280G of the Code) that are required to be made under this
Section 3, shall be made by the independent auditors retained by the Company most recently prior to the Corporate Transaction (the “Auditors”), who shall provide their determination, together with detailed supporting 

  

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calculations regarding the amount of any relevant matters, both to the Company and to Executive within seven (7) business days of Executive’s
termination date, if applicable, or such earlier time as is requested by the Company. If the Auditors determine no Excise Tax is due, then the Auditors shall furnish Executive with a written statement that such Auditors have concluded that no Excise
Tax is payable (including the reasons therefor) and that Executive has substantial authority not to report any Excise Tax on Executive’s federal income tax return. Any determination by the Auditors shall be binding upon the Company and
Executive, absent manifest error. The Company shall pay the fees and costs of the Auditors which are incurred in connection with this Section 3. 
  

	4.	Successors. 

  
 (a) Company’s Successors. Any successor (whether direct or indirect and whether by purchase, lease, merger, consolidation, liquidation or
otherwise) to all or substantially all of the Company’s business and/or assets, shall be obligated to perform this Agreement in the same manner and to the same extent as the Company would be required to perform it in the absence of a
succession. 
  
 (b) Executive’s Successors. This
Agreement and all rights of Executive hereunder shall inure to the benefit of, and be enforceable by, Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. 

 

	5.	Miscellaneous Provisions. 

  
 (a) Notice. Notices and all other communications contemplated by this Agreement shall be in writing and shall be deemed to have been duly given
when personally delivered or when mailed by U.S. registered or certified mail, return receipt requested and postage prepaid. In the case of Executive, mailed notices shall be addressed to him at the home address which he most recently communicated
to the Company in writing. In the case of the Company, mailed notices shall be addressed to its corporate headquarters, and all notices shall be directed to the attention of its Secretary. 
  
 (b) Waiver. No provision of this Agreement shall be modified, waived
or discharged unless the modification, waiver or discharge is agreed to in writing and signed by Executive and by an authorized officer of the Company (other than Executive). No waiver by either party of any breach of, or of compliance with, any
condition or provision of this Agreement by the other party shall be considered a waiver of any other condition or provision or of the same condition or provision at another time. 
  
 (c) Whole Agreement. This Agreement contains all the legally binding understandings and agreements between Executive
and the Company pertaining to the subject matter of this Agreement and supersedes all such agreements, whether oral or in writing, previously entered into between the parties. To the extent that any other agreement between Executive and the Company
is inconsistent with this Agreement or conflicts with this Agreement, then the terms of this Agreement shall control. 
  
 (d) Withholding Taxes. All payments made under this Agreement shall be subject to reduction to reflect taxes required to be withheld by law.

  

 3 

 (e) Choice of Law. The validity, interpretation, construction and performance of this Agreement
shall be governed by the laws of the state of Washington without regard to the conflicts of laws principles thereof. 
  
 (f) Severability. The invalidity or unenforceability of any provision or provisions of this Agreement shall not affect the validity or
enforceability of any other provision hereof, which shall remain in full force and effect. 
  
 (g) Arbitration. Any controversy or claim arising out of or relating to this Agreement, or the breach thereof, shall be settled by arbitration in Seattle, Washington in accordance with the Commercial
Arbitration Rules of the American Arbitration Association. Discovery shall be permitted to the same extent as in a proceeding under the Federal Rules of Civil Procedure. Judgment on the award rendered by the arbitrator may be entered in any court
having jurisdiction thereof. All fees and expenses of the arbitrator and such Association and attorney fees shall be paid as determined by the arbitrator. 
  
 (h) No Assignment. The rights of Executive to payments or benefits under this Agreement shall not be made subject to option or assignment, either
by voluntary or involuntary assignment or by operation of law, including (without limitation) bankruptcy, garnishment, attachment or other creditor’s process, and any action in violation of this Subsection (h) shall be void. 
  
 (i) Nondisclosure. Notwithstanding any requirement that the Company
may have to publicly disclose the terms of this Agreement pursuant to applicable law or regulations, Executive agrees to use reasonable efforts to maintain in confidence the existence of this Agreement, the contents and terms of this Agreement, and
the consideration for this Agreement (hereinafter collectively referred to as “Agreement Information”). Executive also agrees to take every reasonable precaution to prevent disclosure of any Agreement Information to third parties, except
for disclosures required by law or absolutely necessary with respect to Executive’s family members or personal advisors who shall also agree to maintain confidentiality of the Agreement Information. 
  
 (j) Notice of Employment. During Executive’s employment and for
twelve months after Executive’s termination of employment, Executive will promptly notify the Company in writing if Executive becomes (or agrees to become) an employee or director of any other employer. Such notice shall include the name and
contact information of the other employer and the date of commencement of employment or service as a director. 
  
 6.      Term of Agreement. This Agreement shall continue in effect until the Company shall have given Executive three (3) years’ written notice of cancellation; provided, that,
notwithstanding the delivery of any such notice, this Agreement shall continue in effect for a period of three (3) years after a Corporate Transaction, if such Corporate Transaction shall have occurred during the term of this Agreement. Except as
provided in the next paragraph, this Agreement shall terminate if Executive’s employment is terminated prior to a Corporate Transaction. 
  
 This Agreement shall remain effective if, in connection with an impending Corporate Transaction that is actually consummated, the Company terminates Executive’s
employment for any reason other than Cause, death or Total Disability or Executive resigns for Good Reason. The Company’s 

  

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Board of Directors shall determine in good faith whether such a termination or resignation is occurring in connection with an impending Corporate
Transaction. However, such a termination or resignation shall in any event be deemed to be in connection with an impending Corporate Transaction if such termination or resignation (i) is required by the merger agreement or other instrument relating
to such Corporate Transaction or (ii) is made at the express request of the other party (or parties) to the transaction constituting such Corporate Transaction. 
  

IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the Company by its duly authorized officer, as of the day and year first above
written. 
  

	
	EXECUTIVE:
	
	/s/    Bradley Sparks
	Bradley Sparks
	
	WATCHGUARD TECHNOLOGIES, INC.:
	
	/s/    Edward J. Borey
	 By: Edward J. Borey
 As Its: President and Chief
Executive Officer

  

 5Form of Director Indemnification Agreement

 Exhibit 10.23 
  
 FORM OF DIRECTOR INDEMNIFICATION AGREEMENT DATED APRIL 6, 2005 BETWEEN PEGASYSTEMS INC. AND EACH MEMBER OF ITS BOARD OF
DIRECTORS. 
  
 DIRECTOR INDEMNIFICATION AGREEMENT 

 
 This Agreement is made as of the 6th day of April, 2005, by and between Pegasystems Inc.,
Massachusetts corporation (the “Corporation”), and                          (“Indemnitee”).

  
 WHEREAS, it is essential to the Corporation to retain and attract as directors
the most capable persons available, and 
  
 WHEREAS, it is the express policy of
the Corporation to indemnify its directors so as to provide them with the maximum possible protection permitted by law, and 
  
 WHEREAS, Indemnitee does not regard the protection that may be available under the Corporation’s insurance as adequate in the present circumstances, and is not
willing to remain as a director without adequate protection, and 
  
 WHEREAS, the
Corporation desires Indemnitee to continue to serve as a director of the Corporation. 
  
 NOW, THEREFORE, the Corporation and Indemnitee do hereby agree as follows: 
  
 1 Agreement to Serve. Indemnitee agrees to continue to serve as a director of the Corporation for so long as he is duly elected or appointed or until such time as he resigns in writing. 
  
 2 Definitions. As used in this Agreement: 
  
 (a) The term “Corporate Status” shall mean the status of a person
who is or was a director of the Corporation or who, while a director of the Corporation, is or was serving at the request of the Corporation, as a director, officer, partner, trustee, employee or agent of another corporation, partnership, joint
venture, trust, employee benefit plan, or other entity. A director is considered to be serving an employee benefit plan at the Corporation’s request if his duties to the Corporation also impose duties on, or otherwise involve services by, him
to the plan or to participants in or beneficiaries of the plan. 
  
 (b) The term “D&O Insurance” shall mean the directors’ and officers’ liability insurance issued by the insurer(s), and having the policy number(s), amount(s) and deductible(s) set forth on Exhibit A hereto and
any replacement or substitute policies issued by one or more reputable insurers providing in all respects coverage at least comparable to and in the same amount as that provided under the policy or policies identified on Exhibit A.

  
 (c) The term “Disinterested Director” shall mean a
director of the Corporation who, at the time of a vote referred to in Paragraph 8 of this Agreement, is not (a) a party to the Proceeding, or (b) an individual having a familial, financial, professional, or employment relationship with the
Indemnitee, which relationship would, in the circumstances, reasonably be expected to exert an influence on the director’s judgment when voting on the decision being made. 
  
 (d) The term “Expenses” shall include, without limitation, attorneys’ fees, retainers, court costs,
transcript costs, fees of experts, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees and other disbursements or expenses of the types customarily incurred in connection with a
Proceeding. 
  
 (e) The term “Liability” shall mean the
obligation to pay a judgment, settlement, penalty, fine including an excise tax assessed with respect to an employee benefit plan, or reasonable expenses incurred with respect to a Proceeding. 
  
 (f) The term “Proceeding” shall mean any threatened, pending or
completed action, suit, or proceeding, whether civil, criminal, administrative, arbitrative or investigative, and whether formal or informal. 
  
 3 Indemnification. 
  
 (a) The Corporation shall indemnify the Indemnitee if he was, is or is threatened to be made a defendant or respondent in a Proceeding because of his
Corporate Status against Liability incurred in the Proceeding if (1) (i) he conducted himself in good faith, and (ii) he reasonably believed that his conduct was in the best interests of the Corporation or that his conduct was at least not opposed
to the best interests of the Corporation, and (iii) in the case of any criminal proceeding, he had no reasonable cause to believe his conduct was unlawful, or (2) he engaged in conduct for which he shall not be liable under Article VI, Section 4 of
the Corporation’s Articles of Organization. 

 (b) The Indemnitee’s conduct with respect to an employee benefit plan for a purpose he reasonably
believed to be in the interests of the participants in, and the beneficiaries of, the plan is conduct that satisfies the requirement that his conduct was at least not opposed to the best interests of the Corporation. 
  
 (c) The termination of a proceeding by judgment, order, settlement, or
conviction, or upon a plea of nolo contendere or its equivalent, is not, of itself, determinative that the Indemnitee did not meet the relevant standard of conduct described in this Paragraph 3. 
  
 4 Exceptions to Right of Indemnification. Notwithstanding anything to
the contrary in this Agreement, except as set forth in Paragraphs 9 and 10, the Corporation shall not indemnify the Indemnitee in connection with a Proceeding (or part thereof) initiated by the Indemnitee unless the initiation thereof was approved
by the Board of Directors of the Corporation. Notwithstanding anything to the contrary in this Agreement, the Corporation shall not indemnify the Indemnitee to the extent Indemnitee is reimbursed from the proceeds of insurance, and in the event the
Corporation makes any indemnification payments to the Indemnitee and the Indemnitee is subsequently reimbursed from the proceeds of insurance, the Indemnitee shall promptly refund such indemnification payments to the Corporation to the extent of
such insurance reimbursements. 
  
 5 Indemnification of
Expenses of Successful Party. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee has been successful, on the merits or otherwise, in the defense of any Proceeding to which he was a party because of his Corporate
Status, the Indemnitee shall be indemnified against all reasonable Expenses incurred by him on behalf in connection therewith. Without limiting the foregoing, if any Proceeding is disposed of, on the merits or otherwise (including a disposition
without prejudice), without (i) the disposition being adverse to the Indemnitee, (ii) an adjudication that the Indemnitee was liable to the Corporation, (iii) a plea of guilty or nolo contendere by the Indemnitee, (iv) an adjudication that
the Indemnitee did not act in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the Corporation, and (v) with respect to any criminal proceeding, an adjudication that the Indemnitee had no reasonable
cause to believe his conduct was unlawful, the Indemnitee shall be considered for the purposes hereof to have been wholly successful with respect thereto. 
  
 6 Notification and Defense of Claim. As a condition precedent to his right to be indemnified, the Indemnitee must notify the Corporation in writing
as soon as practicable of any Proceeding for which indemnity will or could be sought by him and provide the Corporation with a copy of any summons, citation, subpoena, complaint, indictment, information or other document relating to such Proceeding
with which he is served. With respect to any Proceeding of which the Corporation is so notified, the Corporation will be entitled to participate therein at its own expense and/or to assume the defense thereof at its own expense, with legal counsel
reasonably acceptable to the Indemnitee. After notice from the Corporation to the Indemnitee of its election so to assume such defense, the Corporation shall not be liable to the Indemnitee for any legal expenses subsequently incurred by the
Indemnitee in connection with such claim, other than as provided below in this Paragraph 6. The Indemnitee shall have the right to employ his own counsel in connection with such claim, but the fees and expenses of such counsel incurred after notice
from the Corporation of its assumption of the defense thereof shall be at the expense of the Indemnitee unless (i) the employment of counsel by the Indemnitee has been authorized by the Corporation, (ii) counsel to the Indemnitee shall have
reasonably concluded that there may be a conflict of interest or position on any significant issue between the Corporation and the Indemnitee in the conduct of the defense on such action or (iii) the Corporation shall not in fact have employed
counsel to assume the defense of such action, in each of which cases fees and expenses of counsel for the Indemnitee shall be at the expense of the Corporation, except as otherwise expressly provided by this Agreement. The Corporation shall not be
entitled, without the consent of the Indemnitee, to assume the defense of any claim brought by or in the right of the Corporation or as to which counsel for the Indemnitee shall have reasonably made the conclusion provided for in clause (ii) above.
The Corporation shall not be required to indemnify the Indemnitee under this Agreement for any amounts paid in settlement of any Proceeding effected without its written consent. The Corporation shall not settle any Proceeding in any manner which
would impose any penalty or limitation on Indemnitee without Indemnitee’s written consent. Neither the Corporation nor the Indemnitee will unreasonably withhold its or his consent to any proposed settlement. 
  
 7 Advancement of Expenses. Any expenses incurred by the Indemnitee in
connection with any Proceeding to which the Indemnitee was or is a party or is threatened to be a party by reason of his Corporate Status or by reason of any action alleged to have been taken or omitted in connection therewith shall be paid by the
Corporation in advance of the final disposition of such matter; provided, however, that the payment of such Expenses incurred by the Indemnitee in advance of the final disposition of such matter shall be made only upon receipt of (i) a
written affirmation of the Indemnitee’s good faith belief that he has met the standard of conduct required in Paragraph 3 of this Agreement or that the Proceeding involves conduct for which liability has been eliminated under Article VI,
Section 4 of the Corporation’s Articles of Organization and (ii) an unlimited undertaking by or on behalf of the Indemnitee to repay all amounts so advanced in the event that it shall ultimately be determined that the Indemnitee is not entitled
to be indemnified by the Corporation as authorized in this Agreement. Such expenses shall be paid immediately upon the written request of the Indemnitee to the Corporation. The undertaking referred to in clause (ii) above shall be an unlimited
general obligation of the Indemnitee but shall not be secured and shall be accepted without referral to the Indemnitee’s financial ability to make repayment. 

 8 Procedure for Indemnification. In order to obtain the indemnification pursuant to Paragraphs 3
or 5 of this Agreement, the Indemnitee shall submit to the Corporation a written request, including in such request such documentation and information as is reasonably available to the Indemnitee and is reasonably necessary to determine whether and
to what extent the Indemnitee is entitled to indemnification or advancement of Expenses. Any such indemnification shall be made promptly, and in any event within 60 days after receipt by the Corporation of the written request of the Indemnitee,
unless with respect to requests under Paragraph 3 the Corporation determines within such 60-day period that the Indemnitee did not meet the applicable standard of conduct set forth in Paragraph 3. Such determination, and any determination pursuant
to Section 7 that advanced Expenses must be repaid to the Corporation, shall be made in each instance (a) if there are two or more Disinterested Directors, by the Board of Directors by a majority vote of all the Disinterested Directors, or by a
majority of the members of a committee of two or more Disinterested Directors appointed by vote; or (b) by special legal counsel (i) selected in the manner prescribed in clause (a), or (ii) if there are fewer than two Disinterested Directors,
selected by those members of the Board of Directors who do not qualify as Disinterested Directors. 
  
 9 Right to Seek Court-Ordered Indemnification and Advance of Expenses. Nothing contained in this Agreement shall abrogate or limit the right of the
Indemnitee to apply to a court of competent jurisdiction for indemnification or an advance of expenses to the extent permitted by Section 8.54 of Chapter 156D of the General Laws of the Commonwealth of Massachusetts (“Chapter 156D”) or any
successor provision that increases the scope of permitted indemnification. 
  
 10 Remedies. The right to indemnification and immediate advancement of Expenses as provided by this Agreement shall be enforceable by the Indemnitee in any court of competent jurisdiction. Unless otherwise
required by law, the burden of proving that indemnification is not appropriate shall be on the Corporation. Neither the failure of the Corporation to have made a determination prior to the commencement of such action that indemnification is proper
in the circumstances because Indemnitee has met the applicable standard of conduct, nor an actual determination by the Corporation pursuant to Paragraph 8 that Indemnitee has not met such applicable standard of conduct, shall be a defense to the
action or create a presumption that Indemnitee has not met the standard of conduct. Indemnitee’s expenses (of the type described in the definition of “Expenses” in Paragraph 2(c)) reasonably incurred in connection with successfully
establishing his right to indemnification, in whole, or in part, in any such Proceeding shall also be indemnified by the Corporation. 
  
 11 Partial Indemnification. If the Indemnitee is entitled under any provision of this Agreement to indemnification by the Corporation for some or a
portion of the Expenses, judgments, fines, penalties or amounts paid in settlement actually and reasonably incurred by him or on his behalf, in connection with any Proceeding but not, however, for the total amount thereof, the Corporation shall
nevertheless indemnify Indemnitee for the portion of such Expenses, judgments, fines, penalties or amounts paid in settlement to which Indemnitee is entitled. 
  

12 Subrogation. In the event of any payment under this Agreement, the Corporation shall be subrogated to the extent of such payment to all of
the rights of recovery of the Indemnitee, who shall execute all papers required and take all action necessary to secure such rights, including execution of such documents as are necessary to enable the Corporation to bring suit to enforce such
rights. 
  
 13 Effectiveness; Term of Agreement. This
Agreement shall become effective upon shareholder approval of the proposed amendment of the Corporation’s Articles of Organization eliminating the provisions relating to director and officer indemnification to be considered at the
Corporation’s 2005 annual shareholders meeting and shall continue until and terminate upon the later of (a) six years after the date that the Imdemnitee shall have ceased to serve as a director of the Corporation or, at the request of the
Corporation, as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise or (b) the final termination of all Proceedings pending on the date set forth in clause (a) in respect of which
Indemnitee is granted rights of indemnification or advancement of Expenses hereunder and of any proceeding commenced by Indemnitee pursuant to Paragraph 10 of this Agreement relating thereto. 
  
 14 Indemnification Hereunder Not Exclusive. The indemnification and
advancement of Expenses provided by this Agreement shall not be deemed exclusive of any other rights to which Indemnitee may be entitled under the Corporation’s Articles of Organization, the By-Laws, any agreement, any vote of stockholders or
Disinterested Directors, Chapter 156D, any other law (common or statutory), or otherwise, both as to action in the Indemnitee’s official capacity and as to action in another capacity while holding office for the Corporation. Notwithstanding any
other provision of this Agreement, the Corporation hereby agrees to indemnify Indemnitee to the fullest extent permitted by applicable law and the Corporation’s Articles of Organization and By-Laws, notwithstanding that such indemnification is
not specifically authorized by the other provisions of this Agreement, the Corporation’s Articles of Organization or By-Laws or by statute. In the event of any change, after the date of this Agreement, in any applicable law, statute, or rule
which expands the right of a Massachusetts corporation to indemnify a member of its board of directors, such changes shall be, ipso facto, within the purview of Indemnitee’s rights and the Corporation’s obligations under this
Agreement. In the event of 

 any change in any applicable law, statute or rule which narrows the right of a Massachusetts corporation to indemnify a
member of its Board of Directors, such changes, to the extent not otherwise required by such law, statute, or rule to be applied to this Agreement or by the Corporation’s Articles of Organization or By-Laws and provided that such changes do not
conflict with Corporation’s Articles of Organization or By-Laws, shall have no effect on this Agreement or the parties’ rights and obligations hereunder. 
  
 15 Insurance. The Corporation hereby represents and warrants that Exhibit A contains a complete and accurate
description of the policies of directors’ and officers’ liability insurance maintained by the Corporation and that such policies are in full force and effect. The Corporation hereby covenants and agrees that, so long as Indemnitee shall
continue to serve as a director of the Corporation and thereafter for a period of six years, the Corporation shall maintain in full force and effect D&O Insurance. In all policies of D&O Insurance, Indemnitee shall be named as an insured in
such a manner as to provide Indemnitee the same rights and benefits, subject to the same limitation, as are accorded to the Corporation’s officer or officers most favorably insured by such policies. Notwithstanding the foregoing, the
Corporation shall have no obligation to maintain D&O Insurance if the Board of Directors of the Corporation determines in good faith that such insurance is not reasonably available, the premium costs for such insurance is disproportionate to the
amount of coverage provided, or the coverage provided by such insurance is limited by exclusions so as to provide an insufficient benefit. Upon receipt by the Corporation of notice of a Proceeding, the Corporation shall give prompt notice of the
commencement of such Proceeding to its liability insurers in accordance with the procedures set forth in the respective D&O Insurance policies. The Corporation shall thereafter take all necessary or desirable action to cause such insurers to
pay, on behalf of Indemnitee, all amounts payable as a result of such Proceeding in accordance with the terms of such policies. The Corporation shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable hereunder
if and to the extent Indemnitee has otherwise actually received such payment under any insurance policy, contract, agreement, the Corporation’s Articles of Organization or By-Laws, or otherwise. 
  
 16 No Special Rights. Nothing herein shall confer upon the Indemnitee
any right to continue to serve as a director of the Corporation for any period of time or at any particular rate of compensation. 
  
 17 Savings Clause. If this Agreement or any portion thereof shall be invalidated on any ground by any court of competent jurisdiction, then the
Corporation shall nevertheless indemnify the Indemnitee as to Expenses, judgments, fines, penalties and amounts paid in settlement with respect to any Proceeding to the full extent permitted by any applicable portion of this Agreement that shall not
have been invalidated and to the fullest extent permitted by applicable law. 
  
 18 Counterparts. This Agreement may be executed in any number of counterparts, each of which shall constitute the original. 
  
 19 Successors and Assigns. This Agreement shall be binding upon the Corporation and its successors and assigns and
shall inure to the benefit of the estate, heirs, executors, administrators and personal representatives of the Indemnitee. 
  
 20 Headings. The headings of the paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this
Agreement or to affect the construction thereof. 
  
 21
Modification and Waiver. This Agreement may be amended from time to time to reflect changes in Massachusetts law or for other reasons. No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by
both of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provision hereof nor shall any such waiver constitute a continuing waiver. 
  
 22 Notices. All notices, requests, demands and other communications
hereunder shall be in writing and shall be deemed to have been given (i) when delivered by hand or (ii) if mailed by certified or registered mail with postage prepaid, on the third day after the date on which it is so mailed: 
  

			
	(a)	  	if to the Indemnitee, to:
	 	  	  

	 	  	  

	 	  	  

  

			
	(b)	  	if to the Corporation, to:
		
	 	  	        Pegasystems Inc.
	 	  	        101 Main Street
	 	  	        Cambridge, Massachusetts 02138
	 	  	        Attention: General Counsel

 or to such other address as may have been furnished to Indemnitee by the Corporation or to the Corporation by Indemnitee,
as the case may be. 
  
 (c) Applicable
Law. This Agreement shall be governed by and construed in accordance with the laws of The Commonwealth of Massachusetts. 
  
 (d) Enforcement. The Corporation expressly confirms and agrees that it has entered into this Agreement in order to induce the
Indemnitee to continue to serve as a director of the Corporation, and acknowledges that Indemnitee is relying upon this Agreement in continuing in such capacity. 
  
 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the day and year first above
written. 
  

			
	PEGASYSTEMS INC.
		
	By:	 	 /s/ Shawn S. Hoyt

	Name:	 	Shawn S. Hoyt
	Title:	 	General Counsel

  

	
	INDEMNITEE:
	
	 /s/ Name of Indemnitee

 Exhibit A 
  

Schedule of Director and Officer Liability Insurance Policies 
  

							
	 Name of Insurer

	 	 Policy Number

	 	 Coverage Amount

	 	 Retention

	National Union Fire Insurance Co. of Pittsburgh, PA (a subsidiary of AIG)	 	827-94-35	 	US $10,000,000	 	US $500,000

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00083-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00083-of-00352.parquet"}]]