Document:

EX-10.2

 Exhibit 10.2 

FORM OF RESTRICTED STOCK UNIT 

AWARD AGREEMENT 

RESTRICTED STOCK UNIT AGREEMENT 

PURSUANT TO THE 

MARKETAXESS HOLDINGS INC. 2012 STOCK INCENTIVE PLAN 

THIS RESTRICTED STOCK UNIT AGREEMENT (this “Agreement”), is made as of
            (the “Grant Date”) by and between MarketAxess Holdings Inc. (the “Company”) and
[            ] (the “Participant”). 
 WHEREAS, the Board of Directors
of the Company (the “Board”) adopted the MarketAxess Holdings Inc. 2012 Stock Incentive Plan (the “Plan”) which is administered by a Committee appointed by the Board (the “Committee”); 

WHEREAS, pursuant to Section 3.3 of the Plan, the Committee has adopted guidelines (the “Guidelines”) for the grant of restricted
stock units (“RSUs”) under the Plan, which constitute an Other Stock-Based Award under the Plan; and 
 WHEREAS, the Company,
through the Committee, wishes to grant to the Participant RSUs as set forth below. 
 NOW, THEREFORE, the Company and the Participant agree as
follows: 
  

	1.	Grant of RSUs. Subject to the terms and conditions of the Plan, the Guidelines and this Agreement, on the Grant Date the Company awarded to the Participant [●] RSUs. The RSUs are Deferrable RSUs and
the payment of shares of Common Stock upon vesting in accordance with Section 2 may be deferred by the Participant in accordance with Section 4 of the Guidelines. If the Participant chooses to defer the RSUs, the Participant must complete
an election form prescribed by the Committee regarding the election period no later than 30 days after the Grant Date. If the Participant does not make such an election within 30 days after the Grant Date, the RSUs will not be treated as Deferrable
RSUs and, subject to the terms and conditions of the Plan, the Guidelines and this Agreement, payment shall be made on the applicable vesting date for the RSUs. 

  

	2.	Vesting. 

  

	 	2.1	Except as set forth in this Section 2, and notwithstanding anything in the Guidelines to the contrary (including without limitation Section 3.1 of the Guidelines), the RSUs shall become vested (but shall
remain subject to Section 3 of this Agreement) pursuant to the following schedule, provided that the Participant has not had a Termination from the Grant Date until the applicable vesting date: 

 

			
	 Vesting Date
	 	 Incremental Percentage of RSUs Vested

	                    	 	                    
	                    	 	                    
	                    	 	                    
	                    	 	                    
	                    	 	                    

  

	 	2.2	Notwithstanding Section 2.1 of this Agreement and anything in the Guidelines to the contrary (including without limitation Sections 3.3 and 3.4(iv) of the Guidelines): 

(a) upon the Participant’s death or Disability (which occurs on or after
                    ), 50% of any RSUs that are unvested on the date of the Participant’s death or Disability, as applicable, shall
become immediately vested; and 

 (b) upon the Participant’s Termination (x) by the Company without
Cause, or (y) by the Participant for Good Reason, that in any case occurs on or after                     , (1) if such Termination
occurs outside of a Change in Control Period, Participant shall become immediately vested in 25% of all then unvested RSUs, or, (2) if such Termination occurs during a Change in Control Period, Participant shall become immediately vested in 50%
of all then unvested RSUs. 
 (c) “Change in Control Period” means the three (3) month period prior to,
and the twenty-four month period following, a Change in Control that constitutes a Change in Control Event within the meaning of Section 409A of the Code. 
  

	 	2.3	There shall be no proportionate or partial vesting in the periods prior to each vesting date and all vesting shall occur only on the appropriate vesting date. 

 

	 	2.4	For the avoidance of doubt, the provisions in Section 6 of the Guidelines regarding Detrimental Activity shall at all times apply to the RSUs. 

 

	3.	Securities Representations. The grant of the RSUs and any issuance of shares of Common Stock pursuant to this Agreement are being made by the Company in reliance upon the following express representations
and warranties of the Participant. 

 The Participant acknowledges, represents and warrants that: 

 

	 	3.1	he or she has been advised that he or she may be an “affiliate” within the meaning of Rule 144 under the Securities Act of 1933, as amended (the “Act”) and in this connection the Company is
relying in part on his or her representations set forth in this section; 

  

	 	3.2	if he or she is deemed an affiliate within the meaning of Rule 144 of the Act, the Common Stock must be held indefinitely unless an exemption from any applicable resale restrictions is available or the Company files an
additional registration statement (or a “re-offer prospectus”) with regard to such Common Stock and the Company is under no obligation to register the Common Stock (or to file a “re-offer prospectus”); and 

 

	 	3.3	if he or she is deemed an affiliate within the meaning of Rule 144 of the Act, he or she understands that the exemption from registration under Rule 144 will not be available unless (i) a public trading market then
exists for the Common Stock, (ii) adequate information concerning the Company is then available to the public, and (iii) other terms and conditions of Rule 144 or any exemption therefrom are complied with; and that any sale of the Common
Stock may be made only in limited amounts in accordance with such terms and conditions. 

  

	 	4.	Not an Employment Agreement. Neither the execution of this Agreement nor the grant of RSUs hereunder constitute an agreement by the Company to employ or to continue to employ the Participant during the
entire, or any portion of, the term of this Agreement. 

  

	 	5.	Miscellaneous. 

  

	 	5.1	This Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective heirs, personal legal representatives, successors, trustees, administrators, distributees, devisees and legatees.
The Company may assign to, and require, any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company or any affiliate by which the Participant is
employed to expressly assume and agree in writing to perform this Agreement. Notwithstanding the foregoing, the Participant may not assign this Agreement. 

  

	 	5.2	 This award of RSUs shall not affect in any way the right or power of the Board or stockholders of the Company to make or authorize an adjustment,
recapitalization or other change in the capital structure or 

	 	
the business of the Company, any merger or consolidation of the Company or subsidiaries, any issue of bonds, debentures, preferred or prior preference stock ahead of or affecting the Common
Stock, the dissolution or liquidation of the Company, any sale or transfer of all or part of its assets or business or any other corporate act or proceeding. 

  

	 	5.3	The Participant agrees that the award of the RSUs hereunder is special incentive compensation and that it, any dividends paid thereon (even if treated as compensation for tax purposes) will not be taken into account as
“salary” or “compensation” or “bonus” in determining the amount of any payment under any pension, retirement or profit-sharing plan of the Company or any life insurance, disability or other benefit plan of the Company.

  

	 	5.4	No modification or waiver of any of the provisions of this Agreement shall be effective unless in writing and signed by the party against whom it is sought to be enforced. 

 

	 	5.5	This Agreement may be executed in one or more counterparts (including via facsimile or PDF), all of which taken together shall constitute one contract. 

 

	 	5.6	The failure of any party hereto at any time to require performance by another party of any provision of this Agreement shall not affect the right of such party to require performance of that provision, and any waiver by
any party of any breach of any provision of this Agreement shall not be construed as a waiver of any continuing or succeeding breach of such provision, a waiver of the provision itself, or a waiver of any right under this Agreement.

  

	 	5.7	The headings of the sections of this Agreement have been inserted for convenience of reference only and shall in no way restrict or modify any of the terms or provisions hereof. All notices, consents, requests,
approvals, instructions and other communications provided for herein shall be in writing and validly given or made when delivered, or on the second succeeding business day after being mailed by registered or certified mail, whichever is earlier, to
the persons entitled or required to receive the same, to the Company, at the address set forth below, or to the Participant, at the Participant’s address on file with the Company, or to such other address as either party may designate by like
notice. Notices to the Company shall be addressed to the General Counsel of the Company with a copy to the Compensation Committee of the Board, each at the following address: MarketAxess Holdings Inc., 299 Park Avenue, 10th Floor, New York, New York, 10171. 

  

	 	5.8	This Agreement shall be construed, interpreted and governed and the legal relationships of the parties determined in accordance with the internal laws of the State of Delaware without reference to rules relating to
conflicts of law. 

  

	 	6.	Provisions of Plan and Guidelines Control. This Agreement is subject to all the terms, conditions and provisions of the Plan and the Guidelines, including, without limitation, the amendment provisions
thereof, and to such rules, regulations and interpretations relating to the Plan and the Guidelines as may be adopted by the Committee and as may be in effect from time to time. The Plan and the Guidelines are incorporated herein by reference. A
copy of the Plan and the Guidelines have been delivered to the Participant. If and to the extent that this Agreement conflicts or is inconsistent with the terms, conditions and provisions of the Plan and the Guidelines, the Plan and the Guidelines
shall control, and this Agreement shall be deemed to be modified accordingly. Unless otherwise indicated, any capitalized term used but not defined herein shall have the meaning ascribed to such term in the Plan or the Guidelines. This Agreement
contains the entire understanding of the parties with respect to the subject matter hereof (other than any other documents expressly contemplated herein or in the Plan or the Guidelines) and supersedes any prior agreements between the Company and
the Participant. 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the
day and year first above written. 
  

			
	MARKETAXESS HOLDINGS INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
		
	Date:	 	

  

			
	PARTICIPANT
	
	  

	Name:
		
	Date:EX-10.3

 Exhibit 10.3 

FORM OF INCENTIVE STOCK 

OPTION AGREEMENT 

STOCK OPTION AGREEMENT 

PURSUANT TO THE 

MARKETAXESS HOLDINGS INC. 

2012 INCENTIVE PLAN 
 STOCK
OPTION AGREEMENT (“Agreement”), dated as of                     by and between MarketAxess Holdings Inc. (the
“Company”) and [            ] (“Participant”). 

Preliminary Statement 

The Board of Directors of the Company (the “Board”) or a committee appointed by the Board (the “Committee”)
to administer the MarketAxess Holdings Inc. 2012 Incentive Plan (the “Plan”), has authorized this grant of an incentive stock option (the “Option”) on
            (the “Grant Date”) to purchase the number of shares of the Company’s common stock, par value $.003 per share (the “Common Stock”) set forth below
to Participant, as an Eligible Employee of the Company or an Affiliate (collectively, the Company and all Subsidiaries and Parents of the Company shall be referred to as the “Employer”). Unless otherwise indicated, any capitalized
term used but not defined herein shall have the meaning ascribed to such term in the Plan. A copy of the Plan has been delivered to Participant. By signing and returning this Agreement, Participant acknowledges having received and read a copy of the
Plan and agrees to comply with it, this Agreement and all applicable laws and regulations. 
 Accordingly, the parties hereto agree as
follows: 
 1. Tax Matters. The Option granted hereby is intended to qualify as an “incentive stock option” under
Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”). Notwithstanding the foregoing, the Option will not qualify as an “incentive stock option,” among other events, (i) if Participant
disposes of the Common Stock acquired pursuant to the Option at any time during the two (2) year period following the date of this Agreement or the one (1) year period following the date on which the Option is exercised; (ii) except
in the event of Participant’s death or disability, as defined in Section 22(e)(3) of the Code, if Participant is not employed by the Company, any Subsidiary or any Parent at all times during the period beginning on the date of this
Agreement and ending on the day three (3) months before the date of exercise of the Option; or (iii) to the extent the aggregate fair market value (determined as of the time the Option is granted) of the Common Stock subject to
“incentive stock options” which become exercisable for the first time in any calendar year exceeds $100,000. To the extent that the Option does not qualify as an “incentive stock option,” it shall not affect the validity of the
Option and the portion of the Option that does not qualify as an “incentive stock option” shall constitute a separate non-qualified stock option. 

2. Grant of Option. Subject in all respects to the Plan and the terms and conditions set forth herein and therein, Participant
is hereby granted an Option to purchase from the Company [•] shares of Common Stock, at a price per share of $[•] (the “Option Price”). 

3. Exercise. (a) Except as set forth in subsections (b) through (e) below, the Option shall vest and become
exercisable as follows, provided that Participant has not incurred a Termination of Employment prior to the vesting date: 
  

			
	 Vesting Date
	 	 Incremental Percentage of Option Vested

	                    	 	                    
	                    	 	                    
	                    	 	                    
	                    	 	                    
	                    	 	                    

 To the extent that the Option has become vested and exercisable with respect to a number of
shares of Common Stock as provided above, the Option may thereafter be exercised by Participant, in whole or in part, at any time or from time to time prior to the expiration of the Option as provided herein and in accordance with
Section 6.4(d) of the Plan, including, without limitation, by the filing of any written form of exercise notice as may be required by the Committee and payment in full of the Option Price multiplied by the number of shares of Common Stock
underlying the portion of the Option exercised. Payment of the Option Price may be made by any method provided under Section 6.4(d) of the Plan, including, without limitation, (i) solely to the extent permitted by applicable law, if the
Common Stock is traded on a national securities exchange or quoted on a national quotation system sponsored by the Financial Industry Regulatory Authority, through a procedure whereby Participant delivers irrevocable instructions to a broker
reasonably acceptable to the Committee to deliver promptly to the Company an amount equal to the Option Price or (ii) the relinquishment of a portion of the Option based on the Fair Market Value of the Common Stock on the payment date. Upon
expiration of the Option, the Option shall be canceled and no longer exercisable. 
 Except as provided below, there shall be no
proportionate or partial vesting in the periods prior to each vesting date and all vesting shall occur only on the appropriate vesting date. The Committee may, in its sole discretion, provide for accelerated vesting of the Option at any time. 

(b) Upon the death or Disability of Participant, fifty percent (50%) of the then unvested portion of the Option shall become fully vested
and exercisable on the date of Participant’s death or Disability. 
 (c) Upon Participant’s Termination (i) by the Company
without Cause, or (ii) by Participant for Good Reason, one hundred percent (100%) of the then unvested portion of the Option shall become fully vested and exercisable on the date of such Termination. 

(d) The provisions in Section 6.4(c) of the Plan regarding Detrimental Activity shall apply to the Option. 

(e) Notwithstanding any other provision to the contrary in this Agreement, any unvested portion of the Option shall, upon Participant’s
Termination, be non-exercisable and shall be canceled. 
 4. Option Term. The term of the Option shall expire on
                    , subject to earlier termination in the event of Participant’s Termination as specified in Section 5 below. 

5. Termination. Subject to the terms of the Plan and this Agreement, the Option shall be treated in accordance with the
following: 
 (a) In the event of Participant’s Termination by reason of death or Disability, 50% of the unvested portion of the Option
shall vest, and the vested portion of the Option shall remain exercisable until the earlier of (i) two (2) years from the date of such Termination or (ii) the expiration of the stated term of the Option pursuant to Section 4
hereof. 
 (b) In the event of Participant’s involuntary Termination without Cause, or Participant’s voluntary Termination for
Good Reason, the Option shall vest in its entirety and shall remain exercisable until the expiration of the stated term of the Option pursuant to Section 4 hereof. 

(c) In the event of Participant’s voluntary Termination without Good Reason (other than a voluntary Termination described in
Section 5(d) below), the vested portion of the Option shall remain exercisable until the earlier of (i) ninety (90) days from the date of such Termination or (ii) the expiration of the stated term of the Option pursuant to
Section 4 hereof. 
 (d) In the event of Participant’s Termination for Cause or in the event of Participant’s voluntary
Termination without Good Reason within ninety (90) days after an event that would be grounds for a Termination for Cause, Participant’s entire Option (whether or not vested) shall terminate and expire upon the date of such Termination.

 (e) Notwithstanding the foregoing, the Option shall immediately vest and become exercisable, and
shall remain exercisable for the remaining term of the Option, if (1) a Change in Control occurs, and (2) either (A) within 24 months, Participant incurs an involuntary Termination without Cause or a voluntary Termination for Good
Reason, or (B) the successor entity does not assume or substitute the Option. 
 (f) For purposes of this Agreement, “Good
Reason” shall mean any of the following events that occurs without Participant’s consent and that is not cured by the Company within thirty (30) days after the Company’s receipt of written notice from Participant specifying
the event claimed to be Good Reason: (i) a material diminution in Participant’s title, duties, authorities or responsibilities or the assignment to Participant of duties or responsibilities that are materially adversely inconsistent with
Participant’s position; (ii) a material breach of this Agreement by the Company; or (iii) a requirement by the Company that Participant’s principal place of work be moved to a location more than fifty (50) miles away from
its current location. Participant shall be required to provide the Company with written notice of Participant’s Termination of employment for Good Reason no later than forty-five (45) days after the occurrence of the event that constitutes
Good Reason. 
 6. Restriction on Transfer of Option. No part of the Option shall be Transferred other than by will or by the
laws of descent and distribution and, during the lifetime of Participant, the Option may be exercised only by Participant or Participant’s guardian or legal representative. In addition, the Option shall not be assigned, negotiated, pledged or
hypothecated in any way (except as provided by law or herein), and the Option shall not be subject to execution, attachment or similar process. Upon any attempt to Transfer the Option or in the event of any levy upon the Option by reason of any
execution, attachment or similar process contrary to the provisions hereof, such transfer shall be void and of no effect and the Company shall have the right to disregard the same on its books and records and to issue “stop transfer”
instructions to its transfer agent. 
 7. Rights as a Stockholder. Participant shall have no rights as a stockholder with
respect to any shares covered by the Option unless and until Participant has become the holder of record of the shares, and no adjustments shall be made for dividends in cash or other property, distributions or other rights in respect of any such
shares, except as otherwise specifically provided for in the Plan. 
 8. Provisions of Plan Control. This Agreement is subject
to all the terms, conditions and provisions of the Plan, including, without limitation, the amendment provisions thereof, and to such rules, regulations and interpretations relating to the Plan as may be adopted by the Committee and as may be in
effect from time to time. The Plan is incorporated herein by reference. If and to the extent that this Agreement conflicts or is inconsistent with the terms, conditions and provisions of the Plan, the Plan shall control, and this Agreement shall be
deemed to be modified accordingly. This Agreement contains the entire understanding of the parties with respect to the subject matter hereof (other than any exercise notice or other documents expressly contemplated herein or in the Plan) and
supersedes any prior agreements between the Company and Participant with respect to the subject matter hereof. 
 9. Notices.
Any notice or communication given hereunder shall be in writing and shall be deemed to have been duly given: (i) when delivered in person; (ii) two (2) days after being sent by United States mail; or (iii) on the first business
day following the date of deposit if delivered by a nationally recognized overnight delivery service, to the appropriate party at the address set forth below (or such other address as the party shall from time to time specify): 

If to the Company, to: 

MarketAxess Holdings Inc. 
 299
Park Avenue, 10th Floor 
 New York, New York, 10171 

Attention: General Counsel 

 With a copy to: 

MarketAxess Holdings Inc. 
 299
Park Avenue, 10th Floor 
 New York, New York, 10171 

Attention: Compensation Committee 

If to Participant, to the address on file with the Company. 

10. No Obligation to Continue Employment. This Agreement is not an agreement of employment. This Agreement does not guarantee
that the Employer will employ Participant for any specific time period, nor does it modify in any respect the Employer’s right to terminate or modify Participant’s employment or compensation. 

[END OF TEXT. SIGNATURE PAGE FOLLOWS.] 

 IN WITNESS WHEREOF, the parties have executed this Agreement on the date and year set forth
below. 
  

			
	MARKETAXESS HOLDINGS INC.
		
	By:	 	  

	Name:	 	Richard M. McVey
	Title:	 	Chief Executive Officer
		
	Dated:	 	

  

	
	PARTICIPANT:
	
	  

	[                    ]
	
	Dated:

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