Document:

Amended and Restated 2003 Stock Incentive Plan of Net6 Inc.

 Exhibit 10.8 
  
 AMENDED AND RESTATED 
 2003 STOCK INCENTIVE PLAN OF NET6, INC. 
 a subsidiary of Citrix Systems, Inc. 
  
 This AMENDED AND RESTATED 2003 STOCK INCENTIVE PLAN OF NET6, INC. (a
subsidiary of Citrix Systems, Inc.) (the “Plan”) is hereby established by Net6, Inc., a Delaware corporation (the “Company”), and adopted by its Board of Directors as of May 16, 2003 (the “Effective Date”). 

 
 ARTICLE 1. 
  
 PURPOSES OF THE PLAN 
  
 1.1 Purposes. The purposes of the Plan are (a) to enhance the
Company’s ability to attract and retain the services of qualified employees, officers and directors (including non-employee officers and directors), and consultants and other service providers upon whose judgment, initiative and efforts the
successful conduct and development of the Company’s business largely depends, and (b) to provide additional incentives to such persons or entities to devote their utmost effort and skill to the advancement and betterment of the Company, by
providing them an opportunity to participate in the ownership of the Company and thereby have an interest in the success and increased value of the Company. 
  
 ARTICLE 2. 
  
 DEFINITIONS 
  
 For purposes of this Plan, the following terms shall have the meanings indicated: 
  
 2.1 Administrator. “Administrator” means the Board or, if the Board delegates responsibility for any matter to the Committee, the term Administrator shall mean the Committee. 
  
 2.2 Affiliated Company. “Affiliated Company” means any
“parent corporation” or “subsidiary corporation” of the Company, whether now existing or hereafter created or acquired, as those terms are defined in Sections 424(e) and 424(f) of the Code, respectively. 
  
 2.3 Board. “Board” means the Board of Directors of the
Company. 
  
 2.4 Change in Control. “Change in
Control” means: 
  
 (a) The acquisition, directly or
indirectly, in one transaction or a series of related transactions, by any person or group (within the meaning of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended) of the beneficial ownership of securities of the Company
possessing more than fifty percent (50%) of the total combined voting power of all outstanding securities of the Company; 
  
 (b) A merger or consolidation in which the Company is not the surviving entity, except for a transaction in which the holders of the outstanding
voting securities of the Company immediately prior to such merger or consolidation hold as a result of holding Company securities prior to such transaction, in the aggregate, securities possessing more than fifty percent (50%) of the total combined
voting power of all outstanding voting securities of the surviving entity (or the parent of the surviving entity) immediately after such merger or consolidation; 

 (c) A reverse merger in which the Company is the surviving entity but in which the holders of the
outstanding voting securities of the Company immediately prior to such merger hold, in the aggregate, securities possessing less than fifty percent (50%) of the total combined voting power of all outstanding voting securities of the Company or of
the acquiring entity immediately after such merger; 
  
 (d)
The sale, transfer or other disposition (in one transaction or a series of related transactions) of all or substantially all of the assets of the Company, except for a transaction in which the holders of the outstanding voting securities of the
Company immediately prior to such transaction(s) receive as a distribution with respect to securities of the Company, in the aggregate, securities possessing more than fifty percent (50%) of the total combined voting power of all outstanding voting
securities of the acquiring entity immediately after such transaction(s); or 
  
 (e) The approval by the stockholders of a plan or proposal for the liquidation or dissolution of the Company. 
  
 2.5 Code. “Code” means the Internal Revenue Code of 1986, as amended from time to time. 
  
 2.6 Committee. “Committee” means a committee of two or more
members of the Board appointed to administer the Plan, as set forth in Section 7.1 hereof. 
  
 2.7 Common Stock. “Common Stock” means the Common Stock of the Company, subject to adjustment pursuant to Section 4.2 hereof. 
  
 2.8 Consultant. “Consultant” means any consultant or advisor if: (i) the consultant or advisor renders bona
fide services to the Company or any Affiliated Company; (ii) the services rendered by the consultant or advisor are not in connection with the offer or sale of securities in a capital-raising transaction and do not directly or indirectly promote or
maintain a market for the Company’s securities; and (iii) the consultant or advisor is a natural person who has contracted directly with the Company or any Affiliated Company to render such services. 
  
 2.9 Covered Employee. “Covered Employee” means the chief
executive officer of the Company (or the individual acting in such capacity) and the four (4) other individuals that are the highest compensated officers of the Company for the relevant taxable year for whom total compensation is required to be
reported to stockholders under the Exchange Act. Provisions in this Plan making reference to a Covered Employee shall apply only at such time that the Company is Publicly Held. 
  
 2.10 Disability. “Disability” means permanent and total disability as defined in Section 22(e)(3) of the
Code. The Administrator’s determination of a Disability or the absence thereof shall be conclusive and binding on all interested parties. 
  
 2.11 Effective Date. “Effective Date” means the date on which the Plan is adopted by the Board, as set forth on the first page hereof.

  

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 2.12 Exchange Act. “Exchange Act” means the Securities and Exchange Act of 1934, as
amended. 
  
 2.13 Exercise Price. “Exercise
Price” means the purchase price per share of Common Stock payable upon exercise of an Option. 
  
 2.14 Fair Market Value. “Fair Market Value” on any given date means the value of one share of Common Stock, determined as follows:

  
 (a) If the Common Stock is then listed or admitted to
trading on a Nasdaq market system or a stock exchange which reports closing sale prices, the Fair Market Value shall be the closing sale price on the date of valuation on such Nasdaq market system or principal stock exchange on which the Common
Stock is then listed or admitted to trading, or, if no closing sale price is quoted on such day, then the Fair Market Value shall be the closing sale price of the Common Stock on such Nasdaq market system or such exchange on the next preceding day
for which a closing sale price is reported. 
  
 (b) If the
Common Stock is not then listed or admitted to trading on a Nasdaq market system or a stock exchange which reports closing sale prices, the Fair Market Value shall be the average of the closing bid and asked prices of the Common Stock in the
over-the-counter market on the date of valuation. 
  
 (c)
If neither (a) nor (b) is applicable as of the date of valuation, then the Fair Market Value shall be determined by the Administrator in good faith using any reasonable method of evaluation, which determination shall be conclusive and binding on
all interested parties. 
  
 2.15 Incentive Option.
“Incentive Option” means any Option designated and qualified as an “incentive stock option” as defined in Section 422 of the Code. 
  
 2.16 Incentive Option Agreement. “Incentive Option Agreement” means an Option Agreement with respect to an Incentive Option. 

 
 2.17 [Reserved.] 
  
 2.18 Nonqualified Option. “Nonqualified Option” means any
Option that is not an Incentive Option. To the extent that any Option designated as an Incentive Option fails in whole or in part to qualify as an Incentive Option, including, without limitation, for failure to meet the limitations applicable to a
10% Stockholder or because it exceeds the annual limit provided for in Section 5.6 below, it shall to that extent constitute a Nonqualified Option. 
  
 2.19 Nonqualified Option Agreement. “Nonqualified Option Agreement” means an Option Agreement with respect to a Nonqualified Option.

  
 2.20 Option. “Option” means any option to
purchase Common Stock granted pursuant to the Plan. 
  
 2.21
Option Agreement. “Option Agreement” means the written agreement entered into between the Company and the Optionee with respect to an Option granted under the Plan. 
  
 2.22 Optionee. “Optionee” means a Participant who holds an Option. 
  

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 2.23 Participant. “Participant” means an individual or entity who holds an Option or
Restricted Stock under the Plan. 
  
 2.24 Publicly Held.
“Publicly Held” means, with respect to the Company, any point in time in which any class of common equity securities of the Company are required to be registered under Section 12 of the Exchange Act. 
  
 2.25 Purchase Price. “Purchase Price” means the purchase
price per share of Restricted Stock. 
  
 2.26 Restricted
Stock. “Restricted Stock” means shares of Common Stock issued pursuant to Article 6 hereof, subject to any restrictions and conditions as are established pursuant to such Article 6. 
  
 2.27 Service Provider. “Service Provider” means a Consultant
or other natural person the Administrator authorizes to become a Participant in the Plan and who provides services to (i) the Company, (ii) an Affiliated Company, or (iii) any other business venture designated by the Administrator in which the
Company (or any entity that is a successor to the Company) or an Affiliated Company has a significant ownership interest. 
  
 2.28 Stock Purchase Agreement. “Stock Purchase Agreement” means the written agreement entered into between the Company and a Participant
with respect to the purchase of Restricted Stock under the Plan. 
  
 2.29 10% Stockholder. “10% Stockholder” means a person who, as of a relevant date, owns or is deemed to own (by reason of the attribution rules applicable under Section 424(d) of the Code) stock possessing more than 10% of
the total combined voting power of all classes of stock of the Company or of an Affiliated Company. 
  
 ARTICLE 3. 
  
 ELIGIBILITY 
  
 3.1 Incentive Options. Only
employees of the Company or of an Affiliated Company (including officers of the Company and members of the Board if they are employees of the Company or of an Affiliated Company) are eligible to receive Incentive Options under the Plan. 

 
 3.2 Nonqualified Options and Restricted Stock. Employees of the
Company or of an Affiliated Company, officers of the Company and members of the Board (whether or not employed by the Company or an Affiliated Company), and Service Providers are eligible to receive Nonqualified Options or acquire Restricted Stock
under the Plan. 
  
 3.3 Section 162(m) Limitation. Subject
to the provisions of Section 4.2, no employee of the Company or of an Affiliated Company shall be eligible to be granted Options covering more than 55,950 shares of Common Stock during any calendar year. The foregoing shall not apply, however, until
the first date upon which the Company is Publicly Held, and following the date that the Company is Publicly Held, this Section 3.3 shall not apply until such time as required by Section 162(m) of the Code and the rules and regulations thereunder.

  

 C-4 

 ARTICLE 4. PLAN SHARES 
  
 4.1 Shares Subject to the Plan. A total of 102,575 shares of Common Stock may be issued under the Plan, subject to
adjustment as to the number and kind of shares pursuant to Section 4.2 hereof. For purposes of this limitation, in the event that (a) all or any portion of any Option or Restricted Stock granted or offered under the Plan can no longer under any
circumstances be exercised, or (b) any shares of Common Stock are reacquired by the Company which were initially the subject of an Incentive Option Agreement, Nonqualified Option Agreement or Stock Purchase Agreement, the shares of Common Stock
allocable to the unexercised portion of such Option or such Stock Purchase Agreement, or the shares so reacquired, shall again be available for grant or issuance under the Plan. 
  
 4.2 Changes in Capital Structure. In the event that the outstanding shares of Common Stock are hereafter increased or
decreased or changed into or exchanged for a different number or kind of shares or other securities of the Company by reason of a recapitalization, stock split, reverse stock split, combination of shares, reclassification, stock dividend, or other
similar change in the capital structure of the Company, then appropriate adjustments shall be made by the Administrator to the aggregate number and kind of shares subject to this Plan, the number and kind of shares and the price per share subject to
outstanding Option Agreements and Stock Purchase Agreements and the limit on the number of shares under Section 3.3, all in order to preserve, as nearly as practical, but not to increase, the benefits to Participants. 
  
 ARTICLE 5. 
  
 OPTIONS 
  
 5.1 Option Agreement. Each Option granted pursuant to this Plan shall be evidenced by an Option Agreement that shall
specify the number of shares subject thereto, the Exercise Price per share, and whether the Option is an Incentive Option or Nonqualified Option. As soon as is practical following the grant of an Option, an Option Agreement shall be duly executed
and delivered by or on behalf of the Company to the Optionee to whom such Option was granted. Each Option Agreement shall be in such form and contain such additional terms and conditions, not inconsistent with the provisions of this Plan, as the
Administrator shall, from time to time, deem desirable, including, without limitation, the imposition of any rights of first refusal and resale obligations upon any shares of Common Stock acquired pursuant to an Option Agreement. Each Option
Agreement may be different from each other Option Agreement. 
  
 5.2 Exercise Price. The Exercise Price per share of Common Stock covered by each Option shall be determined by the Administrator, subject to the following: (a) the Exercise Price of an Incentive Option shall not be less than 100% of
Fair Market Value on the date the Incentive Option is granted, (b) the Exercise Price for Nonqualified Options granted to Covered Employees shall not be less than 100% of Fair Market Value at the time the Option is granted, and (c) if the person to
whom an Incentive Option is granted is a 10% Stockholder on the date of grant, the Exercise Price shall not be less than 110% of Fair Market Value on the date the Option is granted. However, an Option may be granted with an exercise price lower than
that set forth in the preceding sentence if such Option is granted pursuant to an assumption or substitution for another option in a manner satisfying the provisions of Section 424 of the Code. 
  

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 5.3 Payment of Exercise Price. Payment of the Exercise Price shall be made upon exercise of an
Option and may be made, in the discretion of the Administrator, subject to any legal restrictions, by: (a) cash; (b) check; or (c) any combination of the foregoing methods of payment. 
  
 5.4 Term and Termination of Options. The term and provisions for termination of each Option shall be as fixed by the
Administrator, but no Option may be exercisable more than ten (10) years after the date it is granted. An Incentive Option granted to a person who is a 10% Stockholder on the date of grant shall not be exercisable more than five (5) years after the
date it is granted. 
  
 5.5 Vesting and Exercise of
Options. Each Option shall vest and become exercisable in one or more installments at such time or times and subject to such conditions, including without limitation the achievement of specified performance goals or objectives, as shall be
determined by the Administrator. 
  
 5.6 Annual Limit on
Incentive Options. To the extent required for “incentive stock option” treatment under Section 422 of the Code, the aggregate Fair Market Value (determined as of the time of grant) of the Common Stock shall not, with respect to which
Incentive Options granted under this Plan and any other plan of the Company or any Affiliated Company become exercisable for the first time by an Optionee during any calendar year, exceed $100,000. 
  
 5.7 Limited Transferability of Options. Except as otherwise provided
in this Section 5.7, the Options shall neither be transferable nor assignable by the Optionee. The Option may be transferred or assigned in the following manner, without the consent of the Company or the Administrator: (1) by Will or the laws of
descent and distribution following the Optionee’s death; (2) to an irrevocable trust created by the Optionee qualifying as a grantor retained annuity trust under the terms of Internal Revenue Code Section 2702; (3) to a revocable or irrevocable
trust for the benefit of such Optionee and/or such Optionee’s spouse or issue, or a partnership, limited liability company or corporation, a majority of the interests in which are owned by such persons; and (4) to the Optionee’s issue
including, but not limited to, the children or grandchildren of the Optionee, or an irrevocable trust created for the benefit of such issue. In each of the permitted transfers provided in this Section 5.7, only the permitted transferee may exercise
such Option, without the consent of the Company or the Administrator. If the Option is designated as an Incentive Stock Option, the Option is instead only transferable as provided under the Code. 
  
 5.8 Rights as Stockholder. An Optionee or permitted transferee of an
Option shall have no rights or privileges as a stockholder with respect to any shares covered by an Option until such Option has been duly exercised and certificates representing shares purchased upon such exercise have been issued to such person.

  
 5.9 Company’s Repurchase Right. In the event of
termination of a Participant’s Continuous Service for any reason whatsoever (including death or disability), the Option Agreement may provide, in the discretion of the Administrator, that the Company, or its assignee, shall have the right,
exercisable at the discretion of the Administrator, to repurchase shares of Common Stock acquired pursuant to the exercise of an Option at any time prior to the consummation of the Company’s initial public offering of securities in an offering
registered under the Securities Act of 1933, as amended, and at the price equal to the Fair Market Value per share of Common Stock as of the date of termination of Optionee’s employment. The repurchase right provided in this Section 5.9 shall
terminate and be of no further force or effect following the consummation of an underwritten public offering of the Company’s Common Stock. 
  

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 In any event, the right to repurchase must be exercised within twelve (12) months of the termination of
Participant’s Continuous Service (or in the case of Common Stock issued upon exercise of Options after the date of termination, within twelve (12) months after the date of the exercise) and may be paid by the Company, or its assignee, by cash,
check, or cancellation of indebtedness within thirty (30) days of the expiration of the right to exercise. 
  
 5.10 Unvested Shares. The Administrator shall have the discretion to grant Options which are exercisable for unvested shares of Common Stock.
Should the Optionee cease being an employee, a Service Provider, an officer, director or Consultant of the Company while owning such unvested shares, the Company shall have the right to repurchase, at the exercise price paid per share, any or all of
those unvested shares. The terms upon which such repurchase right shall be exercisable (including the period and procedure for exercise and the appropriate vesting schedule for the purchased shares) shall be established by the Administrator and set
forth in the document evidencing such repurchase right. 
  
 ARTICLE 6. 
  
 RESTRICTED STOCK 

 
 6.1 Issuance and Sale of Restricted Stock. The Administrator shall
have the right to issue, at a Purchase Price determined by the Administrator (provided that such Purchase Price shall not be less than Fair Market Value for shares issued to a Covered Employee), shares of Common Stock subject to such terms,
restrictions and conditions as the Administrator may determine at the time of grant (“Restricted Stock”). Such conditions may include, but are not limited to, continued employment or the achievement of specified performance goals or
objectives. 
  
 6.2 Restricted Stock Purchase Agreements. A
Participant shall have no rights with respect to the shares of Restricted Stock covered by a Stock Purchase Agreement until the Participant has paid the full Purchase Price to the Company in the manner set forth in Section 6.3 hereof and has
executed and delivered to the Company the Stock Purchase Agreement. Each Stock Purchase Agreement shall be in such form, and shall set forth the Purchase Price and such other terms, conditions and restrictions of the Restricted Stock, not
inconsistent with the provisions of this Plan, as the Administrator shall, from time to time, deem desirable. Each Stock Purchase Agreement may be different from each other Stock Purchase Agreement. 
  
 6.3 Payment of Purchase Price. Subject to any legal restrictions,
payment of the Purchase Price may be made, in the discretion of the Administrator, by: (a) cash; (b) check; (c) the surrender of shares of Common Stock owned by the Participant that have been held by the Participant for the requisite period
necessary to avoid a charge to the Company’s earnings for financial reporting purposes, which surrendered shares shall be valued at Fair Market Value as of the date of such acceptance; (d) the Participant’s promissory note in a form and on
terms acceptable to the Administrator; (e) the cancellation of indebtedness of the Company to the Participant; (f) the waiver of compensation due or accrued to the Participant for services rendered; or (g) any combination of the foregoing methods of
payment or any other consideration or method of payment as shall be permitted by applicable corporate law. 
  

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 6.4 Rights as a Stockholder. Upon complying with the provisions of Section 6.2 hereof, a
Participant shall have the rights of a stockholder with respect to the Restricted Stock purchased pursuant to a Stock Purchase Agreement, including voting and dividend rights, subject to the terms, restrictions and conditions as are set forth in
such Stock Purchase Agreement. Unless the Administrator shall determine otherwise, certificates evidencing shares of Restricted Stock shall remain in the possession of the Company until such shares have vested in accordance with the terms of the
Stock Purchase Agreement. 
  
 6.5 Restrictions. Shares of
Restricted Stock may not be sold, assigned, transferred, pledged or otherwise encumbered or disposed of except as specifically provided in the Stock Purchase Agreement. In the event of termination of a Participant’s employment, service as a
director of the Company or Service Provider status for any reason whatsoever (including death or disability), the Stock Purchase Agreement may provide, in the discretion of the Administrator, that the Company shall have the right, exercisable at the
discretion of the Administrator, to repurchase (i) at the original Purchase Price, any shares of Restricted Stock which have not vested as of the date of termination, and (ii) at Fair Market Value, any shares of Restricted Stock which have vested as
of such date, on such terms as may be provided in the Stock Purchase Agreement. 
  
 6.6 Vesting of Restricted Stock. Subject to Section 6.5 above, the Stock Purchase Agreement shall specify the date or dates, the performance goals or objectives which must be achieved, and any other conditions
on which the Restricted Stock may vest. 
  
 6.7 Dividends.
If payment for shares of Restricted Stock is made by promissory note, any cash dividends paid with respect to the Restricted Stock may be applied, in the discretion of the Administrator, to repayment of such note. 
  
 ARTICLE 7. 
  
 ADMINISTRATION OF THE PLAN 
  
 7.1 Administrator. Authority to control and manage the operation and
administration of the Plan shall be vested in the Board, which may delegate such responsibilities in whole or in part to a committee consisting of two (2) or more members of the Board (the “Committee”). Members of the Committee may be
appointed from time to time by, and shall serve at the pleasure of, the Board. The Board may limit the composition of the Committee to those persons necessary to comply with the requirements of Section 162(m) of the Code and Section 16 of the
Exchange Act. As used herein, the term “Administrator” means the Board or, with respect to any matter as to which responsibility has been delegated to the Committee, the term Administrator shall mean the Committee. 
  
 7.2 Powers of the Administrator. In addition to any other powers or
authority conferred upon the Administrator elsewhere in the Plan or by law, the Administrator shall have full power and authority: (a) to determine the persons to whom, and the time or times at which, Incentive Options or Nonqualified Options or
rights to purchase Restricted Stock shall be granted, the number of shares to be represented by each Option and the number of shares of Restricted Stock to be offered, and the consideration to be received by the Company upon the exercise of such
Options or sale of such Restricted Stock; (b) to interpret the Plan; (c) to create, amend or rescind rules and regulations relating to the Plan; (d) to determine the terms, conditions and restrictions contained in, and the form of, Option Agreements
and Stock Purchase Agreements; (e) to determine the identity or 
  

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 capacity of any persons who may be entitled to exercise a Participant’s rights under any Option or Stock Purchase
Agreement under the Plan; (f) to correct any defect or supply any omission or reconcile any inconsistency in the Plan or in any Option Agreement or Stock Purchase Agreement; (g) to accelerate the vesting of any Option or release or waive any
repurchase rights of the Company with respect to Restricted Stock; (h) to extend the exercise date of any Option or acceptance date of any Restricted Stock; (i) to provide for rights of first refusal and/or repurchase rights; (j) to amend
outstanding Option Agreements and Stock Purchase Agreements to provide for, among other things, any change or modification which the Administrator could have included in the original Agreement or in furtherance of the powers provided for herein; and
(k) to make all other determinations necessary or advisable for the administration of the Plan, but only to the extent not contrary to the express provisions of the Plan. Any action, decision, interpretation or determination made in good faith by
the Administrator in the exercise of its authority conferred upon it under the Plan shall be final and binding on the Company and all Participants. 
  
 7.3 Limitation on Liability. No employee of the Company or member of the Board or Committee shall be subject to any liability with respect to
duties under the Plan unless the person acts fraudulently or in bad faith. To the extent permitted by law, the Company shall indemnify each member of the Board or Committee, and any employee of the Company with duties under the Plan, who was or is a
party, or is threatened to be made a party, to any threatened, pending or completed proceeding, whether civil, criminal, administrative or investigative, by reason of such person’s conduct in the performance of duties under the Plan.

  
 ARTICLE 8. 
  
 CHANGE IN CONTROL 
  
 8.1 Change in Control. In order to preserve a Participant’s
rights in the event of a Change in Control of the Company: 
  
 (a) The Administrator shall have the discretion to provide in each Option Agreement or Stock Purchase Agreement the terms and conditions that relate to (i) vesting of such Option or Restricted Stock in the event of a Change in
Control, and (ii) assumption of such Options or Stock Purchase Agreements or issuance of comparable securities or New Incentives in the event of a Change in Control. The aforementioned terms and conditions may vary in each Option Agreement and Stock
Purchase Agreement. 
  
 (b) If the terms of an outstanding
Option Agreement provide for accelerated vesting in the event of a Change in Control, or to the extent that an Option is vested and not yet exercised, the Administrator in its discretion may provide, in connection with the Change in Control
transaction, for the purchase or exchange of each Option for an amount of cash or other property having a value equal to the difference (or “spread”) between: (x) the value of the cash or other property that the Participant would have
received pursuant to the Change in Control transaction in exchange for the shares issuable upon exercise of the Option had the Option been exercised immediately prior to the Change in Control, and (y) the Exercise Price of the Option. 
  
 (c) Outstanding Options shall terminate and cease to be exercisable
upon consummation of a Change in Control except to the extent that the Options are assumed by the successor entity (or parent thereof) pursuant to the terms of the Change in Control transaction. 
  

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 (d) The Administrator shall cause written notice of a proposed Change in Control transaction to be
given to Participants not less than fifteen (15) days prior to the anticipated effective date of the proposed transaction. 
  
 ARTICLE 9. 
  
 AMENDMENT AND TERMINATION OF THE PLAN 
  
 9.1 Amendments. The Board may from time to time alter, amend, suspend or terminate the Plan in such respects as the Board may deem advisable. No
such alteration, amendment, suspension or termination shall be made which shall substantially affect or impair the rights of any Participant under an outstanding Option Agreement or Stock Purchase Agreement without such Participant’s consent.
The Board may alter or amend the Plan to comply with requirements under the Code relating to Incentive Options or other types of options which give Optionees more favorable tax treatment than that applicable to Options granted under this Plan as of
the date of its adoption. Upon any such alteration or amendment, any outstanding Option granted hereunder may, if the Administrator so determines and if permitted by applicable law, be subject to the more favorable tax treatment afforded to an
Optionee pursuant to such terms and conditions. Notwithstanding the foregoing, the Board may not at any time amend, or waive the terms of, Section 11.5 hereof without the prior affirmative vote of a majority of the shares of stock of Citrix Systems,
Inc. (“Citrix”) present at a stockholders’ meeting in person or by proxy and entitled to vote thereon. 
  
 9.2 Plan Termination. Unless the Plan shall theretofore have been terminated, the Plan shall terminate on the tenth (10th) anniversary of the
Effective Date and no Options or Restricted Stock may be granted under the Plan thereafter, but Option Agreements and Stock Purchase Agreements then outstanding shall continue in effect in accordance with their respective terms. 
  
 ARTICLE 10. 
  
 TAX WITHHOLDING 
  
 10.1 Withholding. The Company shall have the power to withhold, or
require a Participant to remit to the Company, an amount sufficient to satisfy any applicable Federal, state, and local tax withholding requirements with respect to any Options exercised or Restricted Stock issued under the Plan. To the extent
permissible under applicable tax, securities and other laws, the Administrator may, in its sole discretion and upon such terms and conditions as it may deem appropriate, permit a Participant to satisfy his or her obligation to pay any such tax, in
whole or in part, up to an amount determined on the basis of the highest marginal tax rate applicable to such Participant, by (a) directing the Company to apply shares of Common Stock to which the Participant is entitled as a result of the exercise
of an Option or as a result of the purchase of or lapse of restrictions on Restricted Stock or (b) delivering to the Company shares of Common Stock owned by the Participant. The shares of Common Stock so applied or delivered in satisfaction of the
Participant’s tax withholding obligation shall be valued at their Fair Market Value as of the date of measurement of the amount of income subject to withholding. 
  

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 ARTICLE 11. 
  
 MISCELLANEOUS 
  
 11.1 Benefits Not Alienable. Other than as provided above, benefits under the Plan may not be assigned or alienated, whether voluntarily or
involuntarily. Any unauthorized attempt at assignment, transfer, pledge or other disposition shall be without effect. 
  
 11.2 No Enlargement of Employee Rights. This Plan is strictly a voluntary undertaking on the part of the Company and shall not be deemed to
constitute a contract between the Company and any Participant to be consideration for, or an inducement to, or a condition of, the employment of any Participant. Nothing contained in the Plan shall be deemed to give the right to any Participant to
be retained as an employee of the Company or any Affiliated Company or to limit the right of the Company or any Affiliated Company to discharge any Participant at any time. 
  
 11.3 Application of Funds. The proceeds received by the Company from the sale of Common Stock pursuant to Option
Agreements and Stock Purchase Agreements, except as otherwise provided herein, will be used for general corporate purposes. 
  
 11.4 Stockholder Approval. The Company shall obtain stockholder approval of the Plan within twelve (12) months before or after the adoption of the
Plan by the Board of Directors. 
  
 11.5 No Further Grants.
Upon consummation of the merger (the “Merger”) of the Company with a wholly-owned subsidiary of Citrix, with the Company surviving as a wholly-owned subsidiary of Citrix, no further or additional grants of Options or Restricted Stock shall
be granted under the Plan. 
  
 11.6 No Repricing of Options or
Restricted Stock. Upon consummation of the Merger, no Options or Restricted Stock granted under the Plan shall be repriced, or terminated and subsequently regranted, at a lower exercise price per share than that applicable to the original grant
(as adjusted pursuant to the Agreement and Plan of Merger by and among the Company, a wholly-owned subsidiary of Citrix and Citrix) without the prior affirmative vote of a majority of the shares of stock of Citrix present at a stockholders’
meeting in person or by proxy and entitled to vote thereon.” 
  

 C-11Microsoft Master Source Code Agreement

 Exhibit 10.11 
  
 MICROSOFT MASTER SOURCE CODE AGREEMENT 
  
 This Master Source Code Agreement is an agreement between Microsoft Corporation (“Microsoft”) and Citrix Systems, Inc.
(“You”). It becomes effective on December 16, 2004 (“Master Source Code Agreement Effective Date”). 
  
 INTRODUCTION 
  
 This Master Source Code Agreement describes a framework for licensing source code from Microsoft, including information You obtain from or about the source code.
These things are collectively called “Source Code.” This Master Source Code Agreement describes terms that always apply. It also comes with a License Form which describes what Source Code You get, what You can do with it and how long You
can use it. The Master Source Code Agreement and any License Forms together become the Master Agreement (“Master Agreement”). You do not have a license to any Source Code until You and Microsoft sign both this Master Source Code Agreement
and a License Form. Over time, You and Microsoft may sign additional License Forms for additional Source Code or additional rights to use Source Code. 
  

1. PROTECTING CONFIDENTIAL INFORMATION 
  

	1.1	The Source Code is confidential information and a trade secret of Microsoft. When You get Source Code, You agree to: 

  

	 	•	 	never disclose it to anyone else (unless a court or the government orders You to) 

  

	 	•	 	keep it secret as You would Your most sensitive confidential information 

  

	 	•	 	provide access to Your employees only on a need to know basis 

  

	 	•	 	use it only as described in the Master Agreement 

  

	 	•	 	have agreements in place with Your employees that protect its secrecy 

  

	1.2	If a court or the government orders You to disclose Source Code, You must give Microsoft prompt notice of the order so that Microsoft can seek an appropriate protective order (or
equivalent). 

  

	1.3	Microsoft does not consider all information about the Source Code to be confidential or a trade secret. If You legally received information from someone other than Microsoft, and
that person was entitled to share the information with You and did not obligate You to keep it secret, You do not need to keep that information secret. The same holds true for information Microsoft disclosed to You or someone else without obligation
to keep it secret or information that You develop independently. 

  
 2. LICENSE GRANTS. This Section describes license grants You may obtain for Source Code. The License Form, once signed by You and Microsoft, specifies which license grant applies to Source Code specified in the
License Form. 
  

	2.1	Reference Grant. A “Reference Grant” permits You to use Source Code as a reference, in “read only” form, for the purpose specified in the License Form.
You may use the Source Code in printed or digital form or view it within a debugger. 

  

					
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	2.2	Debugging Grant. A “Debugging Grant” includes all of the rights of a Reference Grant and also permits You to make temporary modifications to the Source Code to
assist in debugging Your products for the purpose specified in the License Form. If You need to modify, assemble, compile or link the Source Code and execute the resulting derivative binary code on a temporary basis to debug Your products, You may
do so for that limited purpose. 

  

	2.3	Derivatives Grant. A “Derivatives Grant” includes all of the rights of Reference and Debugging Grants and also permits You to create derivative works of the Source
Code for the purpose specified in the License Form. 

  

	2.4	Condition to License Grants. As a condition of each license grant, You will not take any action that would (a) create, or purport to create, obligations for Microsoft with
respect to the Source Code or derivative work thereof; or (b) grant, or purport to grant, to any third party any rights or immunities under Microsoft’s intellectual property or proprietary rights in the Source Code or derivative work thereof.
For example, You shall not incorporate into or combine with the Source Code, or use in the development of a derivative work of the Source Code, any software subject to the General Public License (“GPL”) or Lesser General Public License
(“LGPL”). 

  

	2.5	Assignment of Rights. Assignment of rights for any derivative works to the Source Code that You make will be addressed in each applicable License Form. Any such
assignment shall survive termination of this Agreement. 

  

	2.6	No Other Licenses. You acknowledge that use of unpublished interfaces within the Source Code is unsupported and may create additional support burdens for You and Microsoft
and may adversely affect the user experience with Microsoft’s products and products created for a Microsoft platform. Accordingly, You have no right to use the Source Code under the Master Agreement for the purpose of discovering and/or
using interfaces (e.g. functions, protocols, on-disk or in-memory storage structures) other than those published by Microsoft and made publicly available (e.g., via Software Development Kits, Driver Development Kits, Microsoft Developer Network).
All rights not expressly granted are reserved by Microsoft. 

  

	2.7	Comments and Suggestions. Microsoft welcomes Your comments and suggestions on the Source Code. If You give Microsoft comments and suggestions regarding bug fixes,
enhancements or other modifications to the Source Code, Microsoft may, in connection with Microsoft products and services use, disclose or otherwise commercialize in any manner, Your comments and suggestions in any way it wants, entirely without any
obligation or restriction based on intellectual property rights or otherwise. 

  

					
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 3. NO WARRANTY. MICROSOFT PROVIDES SOURCE CODE TO YOU WITHOUT ANY EXPRESS, IMPLIED OR STATUTORY WARRANTY, NOT EVEN THE
IMPLIED WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, OR THE WARRANTY OF TITLE OR NON-INFRINGEMENT. 
  
 4. LIMITATION OF LIABILITY. YOU AGREE THAT MICROSOFT WILL NOT BE LIABLE UNDER THIS MASTER AGREEMENT FOR ANY INDIRECT, CONSEQUENTIAL, SPECIAL, INCIDENTAL OR
PUNITIVE DAMAGES. 
  
 5. TERM &
TERMINATION 
  

	5.1	Term. This Master Source Code Agreement is in effect for five (5) years from the Effective Date. The term of a license grant for Source Code is specified in a License Form.
The term of a License Form may be shorter than this Master Source Code Agreement but can never be longer. In addition, this Master Source Code Agreement and any License Form may end earlier as described below. 

  

	5.2	Ending. Microsoft may end this Master Source Code Agreement or any License Form in its sole discretion. Microsoft may terminate this Master Source Code Agreement
pursuant to Section 10 of this Master Source Code Agreement. If Microsoft ends this Master Source Code Agreement, all License Forms end too. If Microsoft only ends a particular License Form, this Master Source Code Agreement and other License Forms,
if any, are not affected. If Microsoft terminates a License Form without cause, Microsoft will refund a pro rata portion of the license fee paid by You for that license, if any, after You have complied with the terms of the Master Agreement.
The refund will be based on the number of days left in the term of the license from the date of termination. 

  

	5.3	Surviving Terms. Even if this Master Agreement ends, the following terms remain in effect: Sections 1, 2.5, 2.6, 2.7, 4, 5, 7 and 8. In addition, in the event You grant
Microsoft any licenses under any License Form, such licenses shall survive even if this Master Agreement ends. 

  

	5.4	Returning Items. When Your license to any Source Code ends, You must immediately return to Microsoft or destroy all copies of that Source Code. If we ask, You agree that an
executive of Your company will provide Microsoft with a letter stating that all copies of the Source Code have been returned or destroyed. 

  
 6. NOTICES 
  

	6.1	If You or Microsoft need to send a notice under the Master Agreement, the notice will be considered given when delivered to a commercial courier service or deposited in the United
States of America mails, postage prepaid, certified or registered, return receipt requested. All notices must be addressed as follows: 

  

					
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	To You:	 	To Microsoft:
		
	Citrix Systems, Inc.	 	Microsoft Corporation
	851 West Cypress Creek Road	 	One Microsoft Way
	Fort Lauderdale, FL 33309	 	Redmond, WA 98052-6399 USA

					
	 Attention: General Counsel
	 	Attention:	  	Platforms Business Management
	 Phone: +001 (954) 267-2392
	 	Phone:	  	+001 (425) 882-8080
	 Fax: +001 (954) 267-2862
	 	Fax:	  	+001 (425) 706-7329
	 Email: david.friedman@citrix.com
	 	Email:	  	pslteam@microsoft.com
	 Copy to: Testa, Hurwitz & Thibeault, LLP
	 	Copy to:	  	Law & Corporate Affairs
	 125 High Street
	 	Fax:	  	+001 (425) 706-7409
	 Boston, MA 02110
	 	 	  	 
	 Attention: Steven C. Browne
	 	 	  	 
	 Fax: +001 (617) 248-7100
	 	 	  	 

  

	6.2	Either You or Microsoft may change these addresses by giving notice of the change. 

  
 7. GOVERNING LAW/VENUE/ATTORNEY FEES. The Master Agreement shall
be governed by the laws of the State of Washington, excluding its conflicts of laws, of the United States of America. You agree that all claims You bring relating to the Master Agreement shall be brought exclusively in the federal courts in King
County, Washington, unless no federal subject matter jurisdiction exists, in which case You consent to exclusive jurisdiction and venue in the Superior Court of King County, Washington. You agree that the United Nations Convention on Contracts for
the International Sales of Goods will not apply. If either You or Microsoft use attorneys to enforce rights relating to the Master Agreement, the prevailing party shall be entitled to recover its reasonable attorney fees, costs and other expenses.

  
 8. SUBSIDIARY USE OF
SOURCE CODE. 
  

	8.1	The subsidiaries listed in each applicable License Form (“Listed Subsidiaries”) shall have the same rights and obligations as You have under the Master Agreement with
respect to the subject matter of such License Form, provided that each Listed Subsidiary signs the License Form and agrees to abide by the same terms You do under this Master Source Code Agreement. 

  

	8.2	You, and each of Your Listed Subsidiaries, shall be fully liable for the full compliance of each Listed Subsidiary with all obligations under the Master Agreement as they apply to
such License Form. 

  
 9. OUTCOME IF
SOME SECTIONS ARE INVALID. If a part of the Master Agreement, other than Sections 1, 2.4, 2.7, 3, 4, 10 or 11, is held by a competent court to be unenforceable, the rest shall remain in
effect. If Sections 1, 2.4, 2.7, 3, 4, 10 or 11 are held by a competent court to be unenforceable, the Master Agreement ends immediately. 
  
 10. YOU CANNOT ASSIGN THE MASTER AGREEMENT. If You attempt to assign the Master
Agreement for any reason, the Master Agreement ends immediately. As used in the Master Agreement, the term “assign” includes: (a) any change of ownership of beneficial interest in Your company where 
  

					
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 greater than a twenty percent (20%) interest is transferred (whether in a single or a series of transactions); (b) a
merger of Your company with another party, whether or not Your company is the surviving entity; (c) the acquisition of more than twenty percent (20%) of any class of Your company’s voting stock (or any class of non-voting security convertible
into voting stock) by another party (whether in a single or a series of transactions); or (d) the sale of more than fifty percent (50%) of Your company’s assets (whether in a single transaction or series of transactions). 
  
 11. GOVERNMENT APPROVALS AND
RESTRICTED RIGHTS. 
  

	11.1	You must, at Your expense, obtain and maintain any government approvals, consents, licenses, authorizations, declarations, filings, and registrations as may be necessary or
advisable for Your performance under the Master Agreement. You must also pay (and indemnify Microsoft if it gets charged) for any sales taxes, use taxes and any other taxes imposed by any jurisdiction as a result of the entry into this Master
Agreement, the performance of any of its provisions, or the transfer of any property or rights under it. 

  

	11.2	Any software provided to the U.S. Government pursuant to solicitations issued on or after December 1, 1995 is provided with the rights and restrictions described elsewhere herein.
Any software provided to the U.S. Government pursuant to solicitations issued prior to December 1, 1995 is provided with “Restricted Rights” as provided for in FAR, 48 CFR 52.227-14 (JUNE 1987) or DFAR, 48 CFR 252.227-7013 (OCT 1988), as
applicable. You are responsible for ensuring that any Source Code You get under this Master Agreement is marked with the “Restricted Rights Notice” or “Restricted Rights Legend,” as required. 

  
 12. EXPORT RESTRICTIONS. The Source Code is of United
States-origin. You must comply with all applicable international and national laws that apply to it, including the United States Export Administration Regulations, as well as end-user, end-use and country destination restrictions issued by United
States and other governments. For information on exporting Microsoft products, see http://www.microsoft.com/exporting/. 
  
 13. ENTIRE AGREEMENT. The Master Agreement, including any executed License Form, is the only agreement between You and Microsoft covering
the subject matter of this Master Agreement. It supersedes all other prior and contemporaneous agreements and communications on the subject, including without limitation Master Source Code Agreement between the parties dated May 15, 2002 and all
License Forms thereto, which Master Source Code Agreement and License Forms are hereby superseded in their entirety by this Master Agreement and all License Forms hereto. If there is a conflict between this Master Source Code Agreement and a License
Form to this Agreement, the terms of the License Form shall prevail with regard to the subject matter in the applicable License Form. The Master Agreement shall not be modified unless You and Microsoft sign an amendment 
  

					
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 after the Effective Date. Neither You nor Microsoft waives the right to claim breach of contract unless the waiver is in
a signed, written document. A waiver only applies to things described in that document; it does not apply to other breaches of contract. 
  
 We agree to everything in the Master Agreement. 
  

			
	MICROSOFT CORPORATION	 	 CITRIX SYSTEMS, INC.

	 	 	Company
		
	 /s/ Robert L. Muglia

	 	 /s/ David J. Henshall

	By	 	By
		
	 Robert L. Muglia

	 	 David J. Henshall

	Name (print)	 	Name (print)
		
	 Sr. Vice President

	 	 Chief Financial Officer

	Title	 	Title
		
	 12/16/04

	 	 12/16/04

	Date	 	Date

  

					
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