Document:

Form of Registrant's Class A common stock certificate

 Exhibit 4.1 
  

					
	CLASS A COMMON STOCK	 	CLASS A COMMON STOCK

					
			
	NUMBER	 	 	 	SHARES
	 	 	[DOLBY LABORATORIES, INC. LOGO]	 	 
	 	 	 	 	 SEE REVERSE FOR
 CERTAIN DEFINITIONS

			
	 	 	INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE	 	CUSIP 25659T 10 7

  
 THIS CERTIFIES THAT 

 
  
  
  
 IS THE RECORD HOLDER OF 
  
 FULLY PAID AND NONASSESSABLE SHARES OF THE CLASS A COMMON STOCK, $0.001 PAR VALUE, 
  
 OF 
  
 DOLBY LABORATORIES, INC. 
  
 transferable on the books of the Corporation in person or by duly authorized attorney upon surrender of this Certificate properly endorsed. This Certificate is not valid
until countersigned by the Transfer Agent and registered by the Registrar. 
  
 WITNESS the facsimile seal of the Corporation and the facsimile signatures of its duly authorized officers. 
  
 Dated: 
  
 [DOLBY LABORATORIES, INC. SEAL] 
  

					
	 CHAIRMAN OF THE BOARD
	  	 	  	SECRETARY

  

			
	 COUNTERSIGNED AND REGISTERED:
 EQUISERVE TRUST COMPANY, N.A.
 TRANSFER AGENT AND
REGISTRAR

		
	BY	 	 
	 	 	AUTHORIZED SIGNATURE

  

 DOLBY LABORATORIES, INC. 
  
 The Corporation will furnish upon request and without charge to each stockholder the powers, designations, preferences and relative,
participating, optional and other special rights of each class of stock and series within a class of stock of the Corporation, as well as the qualifications, limitations and restrictions relating to those preferences and/or rights. A stockholder may
make the request to the Corporation or to the Transfer Agent and Registrar. 
  
 The following abbreviations, when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according to applicable laws or regulations: 
  

											
	TEN COM	  	–	  	as tenants in common	  	UNIF GIFT MIN ACT	  	–	  	             Custodian             
	 	  	 	  	 	  	 	  	 	  	(Cust)                     (Minor)
	TEN ENT	  	–	  	as tenants by the entireties	  	 	  	 	  	under Uniform Gifts to Minors
	 	  	 	  	 	  	 	  	 	  	Act
                                       
 
	JT TEN	  	–	  	as joint tenants with right of survivorship and not as tenants in common	  	 	  	 	  	                    (State)
	 	  	 	  	 	  	UNIF TRF MIN ACT	  	–	  	             Custodian (until age             
)
	 	  	 	  	 	  	 	  	 	  	                     under Uniform Transfers
	 	  	 	  	 	  	 	  	 	  	    (Minor)
	 	  	 	  	 	  	 	  	 	  	To Minors Act
                                    
	 	  	 	  	 	  	 	  	 	  	                                       
 (State)

  
 Additional
abbreviations may also be used though not in the above list. 
  
 FOR VALUE
RECEIVED,                      hereby sell, assign and transfer unto 
  

	
	PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE
	
	  
	 

  
  

 (PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE OF ASSIGNEE) 
  

  

  

  
 Shares of the Class A Common Stock represented by the within Certificate and do hereby irrevocably constitute and appoint 
  

  

 Attorney to transfer the said stock on the books of the within named Corporation with full power of substitution in the
premises. 
  

									
					
	DATED	 	 	 	 	 	X	 	 
					
	 	 	 	 	 	 	X	 	 
	 	 	 	 	 	 	 	 	NOTICE: THE SIGNATURE(S) TO THIS ASSIGNMENT MUST STRICTLY CORRESPOND WITH THE NAME(S) AS WRITTEN UPON THE FACE OF THE CERTIFICATE IN EVERY PARTICULAR AND WITHOUT ALTERATION OR ENLARGEMENT OR
ANY CHANGE WHATEVER.

  

			
	SIGNATURE(S) GUARANTEED:
		
	BY	 	 
	 	 	THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE
GUARANTEE MEDALLION PROGRAM), PURSUANT TO S.E.C. RULE 17Ad-15.

  
 KEEP THIS CERTIFICATE IN A SAFE
PLACE. IF IT IS LOST, STOLEN, OR DESTROYED, THE CORPORATION WILL REQUIRE A BOND OF INDEMNITY AS A CONDITION TO THE ISSUANCE OF A REPLACEMENT CERTIFICATE.Form of Stock Option Agreement under the 2000 Stock Plan

  
 Exhibit 10.5

  
 DOLBY LABORATORIES, INC. 
  
 2005 STOCK PLAN 
  
 STOCK OPTION AGREEMENT 
  
 Unless otherwise defined herein, the terms defined in the Dolby Laboratories,
Inc. 2005 Stock Plan (the “Plan”) shall have the same defined meanings in this Stock Option Agreement (the “Option Agreement”). 
  

	I.	NOTICE OF STOCK OPTION GRANT 

  
 [Optionee’s Name and Address] 
  
 You have been granted an option to purchase Common Stock of the Company, subject to the terms and conditions of the Plan and this Option Agreement, as
follows: 
  

			
	 Grant Number
	  	________________________
		
	 Date of Grant
	  	________________________
		
	 Vesting Commencement Date
	  	________________________
		
	 Exercise Price per Share
	  	$ _______________________
		
	 Total Number of Shares Granted
	  	________________________
		
	 Total Exercise Price
	  	$ _______________________
		
	 Type of Option:
	  	 ̈ Incentive Stock Option
		
	 	  	 ̈ Nonstatutory Stock Option
		
	 Term/Expiration Date:
	  	________________________

  

 Vesting Schedule: 
  
 Subject to Optionee’s continuing to be a Service Provider and other limitations set forth in the Plan and this Option
Agreement, the Option may be exercised, in whole or in part, in accordance with the following schedule: 
  

					
	 Date of Vesting

	 	 Total Number of Shares Vested

	 	 Percent Vested

	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

  
 Termination
Period: 
  
 This Option may be exercised for
[                    ] after Optionee ceases to be a Service Provider. Upon the death or Disability of the Optionee, this Option may be
exercised for [                    ] after Optionee ceases to be a Service Provider. In no event shall this Option be exercised later than the
Term/Expiration Date as provided above. 
  

	II.	AGREEMENT 

  

	 	A.	Grant of Option. 

  
 The Administrator of the Plan hereby grants to the Optionee named in the Notice of Grant attached as Part I of this Agreement (the
“Optionee”) an option (the “Option”) to purchase the number of Shares, as set forth in the Notice of Grant, at the exercise price per share set forth in the Notice of Grant (the “Exercise Price”), subject to the terms
and conditions of the Plan, which is incorporated herein by reference. Subject to Section 16(c) of the Plan, in the event of a conflict between the terms and conditions of the Plan and the terms and conditions of this Option Agreement, the terms and
conditions of the Plan shall prevail. 
  
 If
designated in the Notice of Grant as an Incentive Stock Option (“ISO”), this Option is intended to qualify as an Incentive Stock Option under Section 422 of the Code. However, if this Option is intended to be an Incentive Stock Option, to
the extent that it exceeds the $100,000 rule of Code Section 422(d) it shall be treated as a Nonstatutory Stock Option (“NSO”). 
  

	 	B.	Exercise of Option. 

  
 (a) Right to Exercise. This Option is exercisable during its term in accordance with the Vesting Schedule set out in the Notice of
Grant and the applicable provisions of the Plan and this Option Agreement. 
  

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 (b) Method of Exercise. This Option is exercisable by delivery of an exercise
notice, in the form attached as Exhibit A (the “Exercise Notice”), which shall state the election to exercise the Option, the number of Shares in respect of which the Option is being exercised (the “Exercised Shares”), and such
other representations and agreements as may be required by the Company pursuant to the provisions of the Plan. The Exercise Notice shall be completed by the Optionee and delivered to
[            ] of the Company. The Exercise Notice shall be accompanied by payment of the aggregate Exercise Price as to all Exercised Shares. This Option shall be deemed to be
exercised upon receipt by the Company of such fully executed Exercise Notice accompanied by such aggregate Exercise Price. 
  
 No Shares shall be issued pursuant to the exercise of this Option unless such issuance and exercise complies with Applicable Laws.
Assuming such compliance, for income tax purposes the Exercised Shares shall be considered transferred to the Optionee on the date the Option is exercised with respect to such Exercised Shares. 
  

	 	C.	Method of Payment. 

  
 Payment of the aggregate Exercise Price shall be by any of the following, or a combination thereof, at the election of the Optionee:

  
 1. cash; 
  
 2. check; 
  
 3. other Shares which meet the conditions established by the
Administrator to avoid adverse accounting consequences (as determined by the Administrator); or 
  
 4. consideration received by the Company under a cashless exercise program implemented by the Company in connection with the Plan.

  

	 	D.	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 the Optionee. The terms of the Plan and this Option Agreement shall be binding upon the executors, administrators, heirs, successors and assigns of the Optionee. 
  

	 	E.	Term of Option. 

  
 This Option may be exercised only within the term set out in the Notice of Grant, and may be exercised during such term only in accordance
with the Plan and the terms of this Option Agreement. 
  

	 	F.	Tax Consequences. 

  
 Some of the federal tax consequences relating to this Option, as of the date of this Option, are set forth below. THIS SUMMARY IS
NECESSARILY INCOMPLETE, AND THE TAX LAWS AND REGULATIONS ARE SUBJECT TO CHANGE. THE OPTIONEE 

  

 -3- 

 
SHOULD CONSULT A TAX ADVISER BEFORE EXERCISING THIS OPTION OR DISPOSING OF THE SHARES. 
  

	 	G.	Exercising the Option. 

  
 1. Nonstatutory Stock Option. The Optionee may incur regular federal income tax liability upon exercise of a NSO. The Optionee will
be treated as having received compensation income (taxable at ordinary income tax rates) equal to the excess, if any, of the Fair Market Value of the Exercised Shares on the date of exercise over their aggregate Exercise Price. If the Optionee is an
Employee or a former Employee, the Company will be required to withhold from his or her compensation or collect from Optionee and pay to the applicable taxing authorities an amount in cash equal to a percentage of this compensation income at the
time of exercise, and may refuse to honor the exercise and refuse to deliver Shares if such withholding amounts are not delivered at the time of exercise. 
  
 2. Incentive Stock Option. If this Option qualifies as an ISO, the Optionee will have no regular federal income tax liability upon
its exercise, although the excess, if any, of the Fair Market Value of the Exercised Shares on the date of exercise over their aggregate Exercise Price will be treated as an adjustment to alternative minimum taxable income for federal tax purposes
and may subject the Optionee to alternative minimum tax in the year of exercise. In the event that the Optionee ceases to be an Employee but remains a Service Provider, any Incentive Stock Option of the Optionee that remains unexercised shall cease
to qualify as an Incentive Stock Option and will be treated for tax purposes as a Nonstatutory Stock Option on the date three (3) months and one (1) day following such change of status. 
  
 3. Disposition of Shares. 
  
 (a) NSO. If the Optionee holds NSO Shares for at least one year, any gain realized on disposition of
the Shares will be treated as long-term capital gain for federal income tax purposes. 
  
 (b) ISO. If the Optionee holds ISO Shares for at least one year after exercise and two years after the grant date, any gain
realized on disposition of the Shares will be treated as long-term capital gain for federal income tax purposes. If the Optionee disposes of ISO Shares within one year after exercise or two years after the grant date, any gain realized on such
disposition will be treated as compensation income (taxable at ordinary income rates) to the extent of the excess, if any, of the lesser of (A) the difference between the Fair Market Value of the Shares acquired on the date of exercise and the
aggregate Exercise Price, or (B) the difference between the sale price of such Shares and the aggregate Exercise Price. Any additional gain will be taxed as capital gain, short-term or long-term depending on the period that the ISO Shares were held.

  
 (c) Notice of Disqualifying Disposition of
ISO Shares. If the Optionee sells or otherwise disposes of any of the Shares acquired pursuant to an ISO on or before the later of (i) two years after the grant date, or (ii) one year after the exercise date, the Optionee shall immediately
notify the Company in writing of such disposition. The Optionee agrees that he or she may be subject to income tax withholding by the Company on the 

  

 -4- 

 
compensation income recognized from such early disposition of ISO Shares by payment in cash or out of the current earnings paid to the Optionee. 

 

	 	H.	Entire Agreement; Governing Law. 

  
 The Plan is incorporated herein by reference. The Plan and this Option Agreement constitute the entire agreement of the parties with
respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Company and Optionee with respect to the subject matter hereof, and may not be modified adversely to the Optionee’s interest
except by means of a writing signed by the Company and Optionee. This agreement is governed by the internal substantive laws, but not the choice of law rules, of California. 
  

	 	I.	NO GUARANTEE OF CONTINUED SERVICE. 

  
 OPTIONEE ACKNOWLEDGES AND AGREES THAT THE VESTING OF SHARES PURSUANT TO THE VESTING SCHEDULE HEREOF IS EARNED ONLY BY CONTINUING AS A
SERVICE PROVIDER AT THE WILL OF THE COMPANY (AND NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED AN OPTION OR PURCHASING SHARES HEREUNDER). OPTIONEE FURTHER ACKNOWLEDGES AND AGREES THAT THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND
THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS A SERVICE PROVIDER FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND SHALL NOT INTERFERE WITH OPTIONEE’S RIGHT OR THE
COMPANY’S RIGHT TO TERMINATE OPTIONEE’S RELATIONSHIP AS A SERVICE PROVIDER AT ANY TIME, WITH OR WITHOUT CAUSE. 
  

 -5- 

 By your signature and the signature of the Company’s representative below, you and the Company agree
that this Option is granted under and governed by the terms and conditions of the Plan and this Option Agreement. Optionee has reviewed the Plan and this Option Agreement in their entirety, has had an opportunity to obtain the advice of counsel
prior to executing this Option Agreement and fully understands all provisions of the Plan and Option Agreement. Optionee hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any
questions relating to the Plan and Option Agreement. Optionee further agrees to notify the Company upon any change in the residence address indicated below. 
  

					
	 OPTIONEE:
	 	 	 	 DOLBY LABORATORIES, INC.

			
	  	 	 	 	  
	 Signature
	 	 	 	 By

			
	  	 	 	 	  
	 Print Name
	 	 	 	 Title

			
	  	 	 	 	  
	 Residence Address
	 	 	 	 
			
	  	 	 	 	  

  

 -6- 

  
 EXHIBIT A

  
 DOLBY LABORATORIES, INC. 
  
 2005 STOCK PLAN 
  
 EXERCISE NOTICE 
  
 Dolby Laboratories, Inc. 
 100 Potrero Avenue 
 San Francisco, CA 94103-4813 
  
 Attention: [            ] 
  
 1. Exercise of Option. Effective as of today,
                    ,             , the undersigned (“Purchaser”)
hereby elects to purchase                      shares (the “Shares”) of the Common Stock of Dolby Laboratories, Inc. (the
“Company”) under and pursuant to the 2005 Stock Plan (the “Plan”) and the Option Agreement dated,              (the “Option Agreement”). The purchase
price for the Shares shall be $            , as required by the Option Agreement. 
  
 2. Delivery of Payment. Purchaser herewith delivers to the Company the full purchase price for the Shares. 
  
 3. Representations of Purchaser. Purchaser acknowledges that Purchaser
has received, read and understood the Plan and the Option Agreement and agrees to abide by and be bound by their terms and conditions. 
  
 4. Rights as Shareholder. Until the issuance (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer
agent of the Company) of the Shares, no right to vote or receive dividends or any other rights as a shareholder shall exist with respect to the Optioned Stock, notwithstanding the exercise of the Option. The Shares so acquired shall be issued to the
Optionee as soon as practicable after exercise of the Option. No adjustment will be made for a dividend or other right for which the record date is prior to the date of issuance, except as provided in Section 15 of the Plan. 
  
 5. Tax Consultation. Purchaser understands that Purchaser may suffer
adverse tax consequences as a result of Purchaser’s purchase or disposition of the Shares. Purchaser represents that Purchaser has consulted with any tax consultants Purchaser deems advisable in connection with the purchase or disposition of
the Shares and that Purchaser is not relying on the Company for any tax advice. 
  

 6. Entire Agreement; Governing Law. The Plan and Option Agreement are incorporated herein by
reference. This Agreement, the Plan and the Option Agreement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Company and Purchaser
with respect to the subject matter hereof, and may not be modified adversely to the Purchaser’s interest except by means of a writing signed by the Company and Purchaser. This agreement is governed by the internal substantive laws, but not the
choice of law rules, of California. 
  

					
	 Submitted by:
	 	 	 	 Accepted by:

			
	 PURCHASER:
	 	 	 	 DOLBY LABORATORIES, INC.

			
	  	 	 	 	  
	 Signature
	 	 	 	 By

			
	  	 	 	 	  
	 Print Name
	 	 	 	 Its

			
	 Address:
	 	 	 	 Address:

			
	 	 	 	 	 DOLBY LABORATORIES, INC.

	 	 	 	 	 100 Potrero Avenue
 San Francisco, CA 94103-4813

			
	 	 	 	 	 
	 	 	 	 	 Date Received

  

 -2-

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