Document:

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EXHIBIT 10.1

ZIX CORPORATION 2004 STOCK OPTION PLAN

(Amended and Restated as of May 25, 2005)

Section 1. Purpose

     The purpose of the Zix Corporation 2004 Stock Option Plan (hereinafter called the “Plan”) is
to advance the interests of Zix Corporation (hereinafter called the “Company”) by strengthening the
ability of the Company to attract, on its behalf and on behalf of its Subsidiaries (as hereinafter
defined), and retain personnel of high caliber through encouraging a sense of proprietorship by
means of stock ownership.

Section 2. Definitions

     “Board of Directors” shall mean the Board of Directors of the Company.

     “Code” shall mean the Internal Revenue Code of 1986, as amended from time-to-time.

     “Committee” shall mean a committee of the Board of Directors comprised of at least two
directors or the entire Board of Directors, as the case may be. Members of the Committee shall be
selected by the Board of Directors. To the extent necessary to comply with the requirements of
applicable rules and regulations, the Committee shall consist of two or more “independent”
directors. Also, if the requirements of §162(m) of the Code are intended to be met, the Committee
shall consist of two or more “outside directors” within the meaning of § 162(m) of the Code.

     “Common Stock” shall mean the common stock of the Company, par value $.01 per share.

     “Date of Grant” shall mean the date on which an Option is granted pursuant to this Plan.

     “Designated Beneficiary” shall mean the beneficiary designated by the Optionee, in a manner
determined by the Committee, to receive amounts due the Optionee in the event of the Optionee’s
death. In the absence of an effective designation by the Optionee, Designated Beneficiary shall
mean the Optionee’s estate.

     “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended.

     “Fair Market Value” shall mean the closing sale price (or average of the quoted closing bid
and asked prices if there is no closing sale price reported) of the Common Stock on the date
specified as reported by the Nasdaq Stock Market, or by the principal national stock exchange on
which the Common Stock is then listed. If there is no reported price information for such date, the
Fair Market Value will be determined by the reported price information for Common Stock on the day
nearest preceding such date.

     “Incentive Stock Option” shall mean a stock option granted under Section 6 that is intended to
meet the requirements of Section 422 of the Code (or any successor provision).

     “Nonqualified Stock Option” shall mean a stock option granted under Section 6 that is not
intended to be an Incentive Stock Option.

     “Option” shall mean an Incentive Stock Option or a Nonqualified Stock Option.

     “Optionee” shall mean the person to whom an option is granted under the Plan or who has
obtained the right to exercise an option in accordance with the provisions of the Plan.

     “Subsidiary” shall mean any now existing or hereafter organized or acquired corporation or
other entity of which fifty percent (50%) or more of the issued and outstanding voting stock or
other economic interest is owned or controlled directly or indirectly by the Company or through one
or more Subsidiaries of the Company.

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Section 3. Administration

     The Plan shall be administered by the Committee. The Committee shall have sole and complete
authority to adopt, alter and repeal such administrative rules, guidelines and practices governing
the operation of the Plan as it shall from time-to-time deem advisable, and to construe, interpret
and administer the terms and provisions of the Plan and the agreements thereunder. The
determinations and interpretations made by the Committee are final and conclusive.

Section 4. Eligibility

     All employees and non-employee consultants and advisors (other than non-employee directors) of
the Company or any Subsidiary who, in the opinion of the Committee, have the capacity for
contributing in a substantial measure to the successful performance of the Company are eligible to
receive Options under the Plan.

Section 5. Maximum Amount Available for Options

     (a) The maximum number of shares of Common Stock in respect of which Options may be made under
the Plan shall be a total of 3,200,000 shares of Common Stock. Of that amount, no participant may
be granted Options for more than 850,000 shares of Common Stock in the aggregate during the term of
the Plan. Shares of Common Stock may be made available from the authorized but unissued shares of
the Company or from shares reacquired by the Company, including shares purchased in the open
market. In the event that an Option is terminated unexercised as to any shares of Common Stock
covered thereby, such shares shall thereafter be again available for award pursuant to the Plan.

     (b) In the event that the Committee shall determine that any stock dividend, recapitalization,
reorganization, merger, consolidation, split-up, spin-off, combination, exchange of shares,
warrants or rights offering to purchase Common Stock at a price substantially below fair market
value, or other similar corporate event affects the Common Stock such that an adjustment is
required in order to preserve the benefits or potential benefits intended to be made available
under the Plan, then the Committee shall adjust appropriately any or all of (1) the number and kind
of shares which thereafter may be optioned under the Plan and (2) the grant, exercise or conversion
price and/or number of shares with respect to the Options and/or, if deemed appropriate, make
provision for cash payment to an Optionee; provided, however, that the number of shares subject to
any Option shall always be a whole number.

Section 6. Stock Options

     (a) Subject to the provisions of the Plan, the Committee shall have sole and complete
authority to determine the persons to whom Options shall be granted, the number of shares to be
covered by each Option, the option price therefor and the conditions and limitations applicable to
the exercise of the Option.

     (b) The Committee shall have the authority to grant Incentive Stock Options, or to grant
Nonqualified Stock Options, or to grant both types of options. In the case of Incentive Stock
Options, the terms and conditions of such grants shall be subject to and comply with the Code and
relevant regulations. Incentive Stock Options to purchase Common Stock may be granted to such
employees of the Company or its Subsidiaries (including any director who is also an employee of the
Company or one of its Subsidiaries) as shall be determined by the Committee. Nonqualified Stock
Options to purchase Common Stock may be granted to such eligible participants as shall be
determined by the Committee. Neither the Company nor any of its Subsidiaries or any of their
respective directors, officers or employees, shall be liable to any Optionee or other person if it
is determined for any reason by the Internal Revenue Service or any court having jurisdiction that
any Incentive Stock Option granted hereunder does not qualify for tax treatment as an Incentive
Stock Option under the then-applicable provisions of the Code.

     (c) The Committee shall, in its discretion, establish the exercise price at the time each
Option is granted, which in the case of Nonqualified Stock Options, shall not be less than 100% of
the Fair Market Value of the Common Stock on the Date of Grant, or in the case of grants of
Incentive Stock Options, shall not be less than 100% of the Fair Market Value of the Common Stock
on the Date of Grant or such greater amount as may be prescribed by the Code.

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       (d) Exercise

     (1) Each Option shall be exercisable at such times and subject to such terms and conditions
as the Committee may, in its sole discretion, specify in the applicable grant or thereafter;
provided, however, that in no event may any Option granted hereunder be exercisable after the
expiration of ten years from the Date of Grant. The Committee may impose such conditions with
respect to the exercise of Options, including without limitation, any relating to the
application of federal or state securities laws, as it may deem necessary or advisable.

     (2) No shares shall be delivered pursuant to any exercise of an Option until payment in
full of the option price therefore is received by the Company. Such payment may be made in cash,
or its equivalent, or, if and to the extent permitted by the Committee or under the terms of the
applicable agreement, by exchanging shares of Common Stock owned by the Optionee (which are not
the subject of any pledge or other security interest), or by a combination of the foregoing,
provided that the combined value of all cash and cash equivalents and the Fair Market Value of
any such Common Stock so tendered to the Company, valued as of the date of such tender, is at
least equal to such option price.

     If the shares to be purchased are covered by an effective registration statement under the
Securities Act of 1933, as amended, any Option may be exercised by a broker-dealer acting on
behalf of an Optionee if (a) the broker-dealer has received from the Optionee instructions
signed by the Optionee requesting the Company to deliver the shares of Common Stock subject to
such Option to the broker-dealer on behalf of the Optionee and specifying the account into which
such shares should be deposited, (b) adequate provision has been made with respect to the
payment of any withholding taxes due upon such exercise, and (c) the broker-dealer and the
Optionee have otherwise complied with Section 220.3(e)(4) of Regulation T, 12 CFR Part 220, or
any successor provision.

     (3) The Company, in its sole discretion, may lend money to an Optionee, guarantee a loan to
an Optionee or otherwise assist an Optionee to obtain the cash necessary to exercise all or any
portion of an Option granted under the Plan.

     (4) The Company shall not be required to issue any fractional shares upon the exercise of
any Options granted under this Plan. No Optionee nor an Optionee’s legal representatives,
legatees or distributees, as the case may be, will be, or will be deemed to be, a holder of any
 shares subject to an Option unless and until said Option has been exercised and the purchase
price of the shares in respect of which the Option has been exercised has been paid. Unless
otherwise provided in the agreement applicable thereto, an Option shall not be exercisable
except by the Optionee or by a person who has obtained the Optionee’s rights under the Option by
will or under the laws of descent and distribution or pursuant to a “qualified domestic
relations order” as defined in the Code.

     (e) No Incentive Stock Options shall be exercisable (a) more than five years (or such other
period of time as from time-to-time provided in the then-applicable provisions of the Code
governing Incentive Stock Options) after the Date of Grant with respect to an Optionee who owns ten
percent or more of the outstanding Common Stock (within the meaning of the Code), and (b) more than
ten years after the Date of Grant with respect to all other Optionees. No Nonqualified Stock
Options shall be exercisable more than ten years after the Date of Grant.

     (f) In no event shall any Option granted to any employee who is classified as “non-exempt”
under the Fair Labor Standards Act of 1938 be exercisable less than six months after the Date of
Grant, except in the case of death, disability, retirement, a change in control or other
circumstances permitted by regulations under the Worker Economic Opportunity Act (“WEOA”). Grants
to such non-exempt employees shall not be based on pre-established performance criteria, except as
specifically permitted under the WEOA. Non- exempt employees shall be notified of the terms of
their Options in accordance with the WEOA, and exercise of such Options must be voluntary.

Section 7. General Provisions

     (a) The Company and its Subsidiaries shall have the right to deduct from all amounts paid to
an Optionee in cash (whether under the Plan or otherwise) any taxes required by law to be withheld
in respect of Option exercises under the Plan. However, if permitted by the Committee or under the
terms of the applicable agreement, the Optionee may

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pay all or any portion of the taxes required to be withheld by the Company or its Subsidiaries
or paid by the Optionee with respect to such Common Stock by electing to have the Company or its
Subsidiaries withhold shares of Common Stock, or by delivering previously owned shares of Common
Stock, having a Fair Market Value equal to the amount required to be withheld or paid. The Optionee
must make the foregoing election on or before the date that the amount of tax to be withheld is
determined. Any such election is irrevocable and subject to disapproval by the Committee. If the
Optionee is subject to the provisions of Section 16(b) of the Exchange Act, then any such election
shall be subject to the restrictions imposed by applicable rules and regulations.

     (b) Each Option hereunder shall be evidenced in writing, delivered to the Optionee, and shall
specify the terms and conditions thereof and any rules applicable thereto, including, but not
limited to, the effect on such Option of the death, retirement, disability or other termination of
employment of the Optionee and the effect thereon, if any, of a change in control of the Company.

     (c) Unless otherwise provided in the agreement applicable thereto, no Option shall be
assignable or transferable except by will or under the laws of descent and distribution or pursuant
to a “qualified domestic relations order” as defined in the Code, and no right or interest of any
Optionee shall be subject to any lien, obligation or liability of the Optionee.

     (d) No person shall have any claim or right to be granted an Option. Further, the Company and
its Subsidiaries expressly reserve the right at any time to terminate the employment of an Optionee
free from any liability, or any claim under the Plan, except as provided in any agreement entered
into with respect to an Option. Neither the Plan nor any Option granted hereunder is intended to
confer upon any Optionee any rights with respect to continuance of employment or other utilization
of his or her services by the Company or by a Subsidiary, nor to interfere in any way with his or
her right or that of his or her employer to terminate his or her employment or other services at
any time (subject to the terms of any applicable contract). The conditions to apply to the exercise
of an Option in the event an Optionee ceases to be employed by the Company or a Subsidiary for any
reason shall be determined by the Committee or specified in the written agreement evidencing the
Option.

     (e) Subject to the provisions of the applicable Option, no Optionee or Designated Beneficiary
shall have any rights as a stockholder with respect to any shares of Common Stock to be distributed
under the Plan until he or she has become the holder thereof.

     (f) The validity, construction, interpretation, administration and effect of the Plan and of
its rules and regulations, and rights relating to the Plan, shall be determined solely in
accordance with the laws of the State of Texas (without giving effect to its conflicts of laws
rules) and, to the extent applicable, federal law.

     (g) The Plan was originally effective on May 6, 2004. No Options may be granted under the Plan
after May 6, 2014; however, all previous Options issued that have not expired under their original
terms or will not then expire at the time the Plan expires will remain outstanding.

     (h) Restrictions on Issuance of Shares

     (1) The Company shall not be obligated to sell or issue any Shares upon the exercise of any
Option granted under the Plan unless: (i) the shares pertaining to such Option have been
registered under applicable federal and state securities laws or are exempt from such
registration; (ii) the prior approval of such sale or issuance has been obtained from any state
regulatory body having jurisdiction; and (iii) in the event the Common Stock has been listed on
any exchange, the shares pertaining to such Option have been duly listed on such exchange in
accordance with the procedure specified therefor. The Company shall be under no obligation to
effect or obtain any listing, registration, qualification, consent or approval with respect to
 shares pertaining to any Option granted under the Plan. If the shares to be issued upon the
exercise of any Option granted under the Plan are intended to be issued by the Company in
reliance upon the exemptions from the registration requirements of applicable federal and state
securities laws, the recipient of the Option, if so requested by the Company, shall furnish to
the Company such evidence and representations, including an opinion of counsel, satisfactory to
it, as the Company may reasonably request.

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     (2) The Company shall not be liable for damages due to a delay in the delivery or issuance
of any stock certificates for any reason whatsoever, including, but not limited to, a delay
caused by listing, registration or qualification of the shares of Common Stock pertaining to any
Option granted under the Plan upon any securities exchange or under any federal or state law or
the effecting or obtaining of any consent or approval of any governmental body.

     (i) The Board of Directors or Committee may impose such other restrictions on the ownership
and transfer of shares issued pursuant to the Plan as it deems desirable; any such restrictions
shall be set forth in the applicable agreement.

     (j) The Board of Directors may amend, abandon, suspend or terminate the Plan or any portion
thereof at any time in such respects as it may deem advisable in its sole discretion, provided that
no amendment shall be made without stockholder approval (including an increase in the maximum
number of shares of Common Stock in respect of which Options may be made under the Plan) if such
stockholder approval is necessary to comply with any tax or regulatory requirement or exchange
listing rules, including for these purposes any approval requirement that is a prerequisite for
exemptive relief under Section 16(b) of the Exchange Act.

     (k) To preserve an Optionee’s rights under an Option in the event of a change in control of
the Company or an Optionee’s separation from employment, the Committee in its discretion may, at
the time an Option is made or any time thereafter, take one or more of the following actions: (i)
provide for the acceleration of any time period relating to the exercise of the Option, (ii)
provide for the purchase of the Option, upon the Optionee’s request, for an amount of cash or other
property that could have been received upon the exercise or realization of the Option had the
Option been currently exercisable or payable, (iii) adjust the terms of the Option in a manner
determined by the Committee to reflect the change in control or to prevent the imposition of an
excise tax under section 280G(b) of the Code, (iv) cause the Option to be assumed, or new rights
substituted therefor, by another entity, or (v) make such other provision as the Committee may
consider equitable and in the best interests of the Company.

AMENDED AND RESTATED as of May 25, 2005.

	 	 	 	 	 
	 	 	Zix Corporation
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Ronald A. Woessner
	 

	 	 	 	 
	 
	 	 	Title:	 	SVP
	 

	 	 	 	 
	 
	 	 	Date:	 	5/25/05
	 

	 	 	 	 

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EXHIBIT 10.2

ZIX CORPORATION

STOCK OPTION AGREEMENT

     THIS STOCK OPTION AGREEMENT (“Agreement”) is made and entered into as of the date set forth on
the signature page attached hereto (the “Signature Page”) with respect to the stock options granted
by Zix Corporation, a Texas corporation (the “Company”), to the Optionee (“Optionee”) listed on the
signature page hereto.

     WHEREAS, the Company wishes to recognize the contributions of the Optionee to the Company and
to encourage the Optionee’s sense of proprietorship in the Company by owning the Common Stock, par
value $.01 per share (the “Common Stock”), of the Company;

     NOW, THEREFORE, in consideration of the mutual agreements and covenants contained herein, the
Company hereby grants to the Optionee a non-qualified stock option (“Option”) to purchase up to the
total number of shares of the Common Stock set forth on the Signature Page at the price per share
(the “Option Price”) as set forth on the Signature Page on the terms and conditions and subject to
the restrictions as set forth in this Agreement and the provisions of the applicable Zix
Corporation stock option plan (which is incorporated herein by reference) (the “Plan”), which is
referenced on the Signature Page. All defined terms contained herein shall have the meanings
ascribed to them in the Plan, except as otherwise provided herein.

1. Definitions.

     a. Disability. “Disability” shall mean any medically determinable physical or mental
impairment that, in the opinion of the Committee, based upon medical reports and other evidence
satisfactory to the Committee, can reasonably be expected to prevent the Optionee from performing
substantially all of his or her customary duties of employment (with or without reasonable
accommodation) for a continuous period of not less than 12 months.

     b. Resignation. “Resignation” shall mean the voluntary termination by the Optionee of
his or her employment relationship with the employing Subsidiary and, if applicable, Company under
circumstances other than voluntary Retirement.

     c. Retirement. “Retirement” shall mean the termination of Optionee’s employment in
accordance with the requirements of a written retirement plan, policy or rule of the Company that
has been duly adopted by the Company or employing Subsidiary, as applicable.

2. Term of Option. The term of this Option shall expire on the expiration date set forth
in the Signature Page (the “stated term”), except as such term may be otherwise shortened by the
other provisions of the Plan or this Agreement.

rev date 4/8/04

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3. Exercise of Option.

     a. Exercise. This Option shall become exercisable in increments as set forth in the
Signature Page. Except as provided in the Plan, the Option shall not be exercisable unless
Optionee shall, at the time of exercise, be an employee of the Company or a Subsidiary, and once
the Option has become exercisable with respect to a certain number of shares as provided above, it
shall thereafter be exercisable as to all of that number of shares, or as to any part thereof,
until expiration or termination of this Option. However, this Option may not be exercised as to
less than 100 shares at any one time (or the remaining shares then purchasable under this Option,
if less than 100 shares).

     b. Adjustment. In the event there is any adjustment to the Common Stock the Board of
Directors or Committee shall make such adjustment as it deems appropriate to the number of shares
subject to the Option or to the Option Price, or both.

     c. Method of Exercise. This Option may be exercised only by written notice (the
“Exercise Notice”) by the Optionee to the Company at its principal executive office. The Exercise
Notice shall be deemed given when deposited in the U. S. mails, postage prepaid, addressed to the
Company at its principal executive office, or if given other than by deposit in the U.S. mails,
when delivered in person to an officer of the Company at that office. The date of exercise of this
Option (the “Exercise Date”) shall be the date of the postmark if the notice is mailed or the date
received if the notice is delivered other than by mail. The Exercise Notice shall state the number
of shares in respect of which this Option is being exercised and, if the shares for which this
Option is being exercised are to be evidenced by more than one stock certificate, the denominations
in which the stock certificates are to be issued. The Exercise Notice shall be signed by the
Optionee and shall include the complete address of such person, together with such person’s social
security number.

     This Option may be exercised either by tendering cash in the amount of the Option Price or,
with the Company’s consent, by tendering shares of Common Stock (which may include shares
previously acquired upon exercise of options granted under the Plan). The Exercise Notice shall be
accompanied by payment of the aggregate Option Price of the shares purchased by cash, a certified
cashier’s check or, at the Company’s option, by delivery of shares of Common Stock having a Fair
Market Value on the date immediately preceding the exercise date equal to the Option Price.

     If the shares to be purchased are covered by an effective registration statement under the
Securities Act of 1933, as amended, any option granted under the Plan may be exercised by a
broker-dealer acting on behalf of an Optionee if (a) the broker-dealer has received from the
Optionee or the Company a fully- and duly-endorsed agreement evidencing such option, together with
instructions signed by the Optionee requesting the Company to deliver the shares of Common Stock
subject to such option to the broker-dealer on behalf of the Optionee and specifying the account
into which such shares should be deposited, (b) adequate provision has been made with respect to
the payment of any withholding taxes due upon such exercise, and (c)

rev date 4/8/04

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the broker-dealer and the
Optionee have otherwise complied with Section 220.3(e)(4) of Regulation T, 12 CFR Part 220, or any
successor provision.

     The certificates for shares of Common Stock as to which this Option shall have been so
exercised shall be registered in the name of the Optionee and shall be delivered to the Optionee at
the address specified in the Exercise Notice. An option exercise shall be valid only if the
Optionee makes payment or other arrangements relating to the withholding tax obligations discussed
in Paragraph 8. In the event the person exercising this Option is a transferee of the Optionee by
will or under the laws of descent and distribution, the Exercise Notice shall be accompanied by
appropriate proof of the right of such transferee to exercise this Option.

4. Termination of Option.

     In the event an Optionee ceases to be an employee of either the Company or a Subsidiary of the
Company due to death, Retirement, Resignation, Disability or termination by the Company for any
reason other than “cause” (such five events each being a “Qualified Termination”), this Option may
be exercised by the Optionee or his or her estate, personal representative or beneficiary to the
fullest extent that the Optionee was entitled to exercise the same on the day immediately prior to
such termination (i) at any time within the one-year period commencing on the day next following
such termination if such termination is due to the death of the Optionee; (ii) at any time within
the thirty-day period commencing on the day next following the effective date of such termination
if such termination is due to the Resignation of the Optionee; or (iii) at any time within the
six-month period commencing on the day next following such termination in the case of any other
Qualified Termination (or in any such case in (i), (ii) or (iii) above, if shorter, only for the
remaining stated term of this Option). In the event that the Optionee’s employment is terminated
for any reason other than a Qualified Termination, this Option shall automatically expire
simultaneously with such termination. For purposes of this Paragraph, “cause” shall mean (i) the
failure, in the sole opinion of the Company or a Subsidiary of the Company that employs Optionee,
of Optionee to adequately perform the duties assigned to Optionee (other than any such failure
resulting from Optionee’s Disability); (ii) the engagement by Optionee in misconduct that, in the
sole opinion of the Company or a Subsidiary of the Company that employs Optionee, is or may have
the effect of being materially injurious to the Company or its Subsidiaries; or (iii) the
conviction of Optionee of any felony or crime of moral turpitude.

     After the Optionee’s death, this Option shall be exercisable only by the executor or
administrator of the Optionee’s estate, or if the Optionee’s estate is not in administration, by
the person or persons to whom the Optionee’s rights shall have passed by the Optionee’s will or
under the laws of descent and distribution of the state where the Optionee was domiciled at the
date of death.

5. No Rights as Shareholder. Neither the Optionee nor any person claiming under or through
the Optionee shall be or have any rights or privileges of a shareholder of the Company in respect
of any of the shares issuable upon the exercise of this Option, unless and until certificates

rev date 4/8/04

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representing such shares shall have been issued (as evidenced by the appropriate entry on the books
of the Company or of a duly authorized transfer agent of the Company).

6. State and Federal Securities Regulation. No shares shall be issued by the Company upon
the exercise of this Option unless and until any then-applicable requirements of state and federal
laws and regulatory agencies shall have been fully complied with to the satisfaction of the Company
and its counsel. The Company may suspend for a reasonable period or periods the time during which
this Option may be exercised if, in the opinion of the Company, such suspension is required to
enable the Company to remain in compliance with regulatory requirements relating to the issuance of
shares of Common Stock subject to this Option. This Option is subject to the requirement that, if
at any time the Company shall determine, in its discretion, that the listing, registration or
qualification of the shares of common stock subject to this Option upon any securities exchange or
under any state or federal law, or the consent or approval of any government regulatory body, is
necessary or desirable as a condition of, or in connection with, the granting or exercise of this
Option or the issue or purchase of shares under this Option, this Option may not be exercised in
whole or in part until such listing, registration, qualification, consent or approval shall have
been effected or obtained free of any conditions not acceptable to the Company. The Company shall
be under no obligation to effect or obtain any such listing, registration, qualification, consent
or approval if the Company shall determine, in its discretion, that such action would not be in the
best interest of the Company. The Company shall not be liable for damages due to a delay in the
delivery or issuance of any stock certificates for any reason whatsoever, including, but not
limited to, a delay caused by listing, registration or qualification of the shares of Common Stock
subject to an option upon any securities exchange or under any federal or state law or the
effecting or obtaining of any consent or approval of any governmental body with respect to the
granting or exercise of this Option or the issue or purchase of shares under this Option.

7. Modification of Options. At any time and from time-to-time the Committee may execute an
instrument providing for modification, extension, or renewal of any outstanding option, provided
that no such modification, extension or renewal shall impair this Option in any respect without the
written consent of the holder of this Option.

8. Withholding of Taxes. The Company may make such provisions and take such steps as it
may deem necessary or appropriate for the withholding of any taxes which the Company or any
Subsidiary is required by any law or regulation of any governmental authority, whether federal,
state or local, domestic or foreign, to withhold in connection with any option, including, but not
limited to, the withholding of the issuance of all or any portion of the shares of Common Stock
subject to this Option until the Optionee reimburses the Company or the applicable Subsidiary for
the amount the Company or the applicable Subsidiary is required to withhold with respect to such
taxes, canceling any portion of the issuance in an amount sufficient to reimburse the Company or
the applicable Subsidiary for the amount it is required to so withhold, or taking any other action
reasonably required to satisfy the withholding obligation of the Company or the applicable
Subsidiary.

rev date 4/8/04

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9. Continued Employment Not Presumed. Nothing in this Agreement, the Plan or any document
describing it nor the grant of an option shall give the Optionee the right to continue in
employment with the Company or any of its Subsidiaries or affect the right of the Company or a
Subsidiary to terminate the employment of the Optionee with or without cause.

10. Non-Competition Covenants.

     a. The provisions of this subparagraph a. shall apply both during normal working hours and at
all other times including, but not limited to, nights, weekends and vacation time, while Optionee
is employed by the Company or any Subsidiary. Optionee shall not directly or indirectly (i) engage
in any employment, business, or activity that is competitive with the business of the Company or
any Subsidiary, (ii) assist any other person or organization in competing with, or in preparing to
engage in competition with, the business of the Company or any Subsidiary. Direct competition shall
include, but not be limited to, the design, development, production, promotion or sale of products,
software, or services competitive with those of the Company or any Subsidiary. In addition,
Optionee shall not directly or indirectly (i) engage in any employment, business, or activity that
is competitive with either (A) the proposed business of the Subsidiary that employs
Optionee (“Employing Subsidiary”) or (B) any proposed business of any of the Company’s other
Subsidiaries (the “Non-Employing Subsidiaries”) of which Optionee has actual knowledge, or (ii)
assist any other person or organization in competing with, or in preparing to engage in competition
with, either (A) the proposed business of the Employing Subsidiary or (B) any proposed
business of any Non-Employing Subsidiary of which Optionee has actual knowledge.

     b. The provisions of this subparagraph b. shall apply during Optionee’s employment with the
Company or any Subsidiary and for a period of six months after Optionee ceases to be employed by
the Company or any Subsidiary. Optionee shall not directly or indirectly solicit to conduct any
Competitive Business with, or conduct any Competitive Business with, any (i) then-current customer
of the Employing Subsidiary or (ii) any person that has been a customer of the Employing Subsidiary
within the six months prior to the time of Optionee’s separation from employment. The phrase
“Competitive Business” means the line(s) of business(es) conducted by the Employing Subsidiary.

     c. The provisions of this subparagraph c. shall apply during Optionee’s employment with the
Company or any Subsidiary and for a period of 12 months after Optionee’s separation from
employment. Optionee shall not directly or indirectly solicit to hire, or cause to be hired, any
employee of the Company or any Subsidiary as an employee or agent of, or consultant to, any
business enterprise that Optionee is associated with.

     d. Each non-competition covenant of Optionee contained in the preceding provisions of this
Paragraph 10 (the “non-competition covenant”) shall be construed as an agreement independent of any
other provision of this Agreement and the existence of any claim or cause of action of Optionee
against the Company or any Subsidiary, whether predicated on this Agreement or otherwise, shall not
constitute a defense to the enforcement by the Company or any Subsidiary of such non-competition
covenant.

rev date 4/8/04

5

 

     e. The Company and Optionee have in good faith used their best efforts to make each
non-competition covenant contained in the preceding provisions of this Paragraph 10 reasonable in
both scope and in duration. It is not anticipated, nor is it intended, by either party to this
Agreement that any court or other tribunal having jurisdiction over the matter will find it
necessary to reform any non-competition covenant to make it reasonable in both scope and in
duration, or otherwise. If any non-competition covenant is deemed by a tribunal having
jurisdiction over the matter to be unlawful or unenforceable, such provision will be deemed
severable from this Agreement and such provision will be limited or eliminated to the minimum
extent necessary so that the remaining provisions of this Agreement shall otherwise remain in full
force and effect and be enforceable. Furthermore, in lieu of such unlawful or unenforceable
provision, there shall be added automatically as part of this Agreement a provision as similar in
terms as may be possible and be enforceable.

     f. Optionee is agreeing to the provisions of this Paragraph 10 in consideration of the grant
of this Option. The provisions of this Paragraph 10 shall be valid and enforceable by the Company
and its Subsidiaries, regardless of whether or not any of this Option granted hereunder actually
becomes exercisable, or whether or not Optionee actually exercises any rights under this Option.
In the event of any conflict or inconsistency between any provision of this Paragraph 10 and any
similar or analogous provision of any other agreement (either currently in effect or that may be
entered into in the future) between Optionee, on the one hand, and the Company or any Subsidiary,
on the other hand, whichever provision is most favorable to the Company or such Subsidiary shall
govern.

11. Option Issued Pursuant to Plan. This Option is issued pursuant to and subject to the
terms and conditions and the restrictions as set forth in the Plan, and in the event of any
inconsistency, the provisions of the Plan shall govern, provided that no amendment shall be made to
the Plan subsequent to the date hereof that impairs the Optionee’s rights under this Option without
the Optionee’s written consent.

12. No Liability of Option. This Option is not liable for or subject to, in whole or in
part, the debts, contracts, liabilities or torts of the Optionee nor shall it be subject to
garnishment, attachment, execution, levy or other legal or equitable process.

13. No Assignment. This Option is not transferable otherwise than by will or the laws of
descent and distribution, and is exercisable during the Optionee’s lifetime only by Optionee.
Without limiting the generality of the foregoing, this Option may not be assigned, transferred
(except as aforesaid), pledged or hypothecated in any way (whether by operation of law or
otherwise), and shall not be subject to execution, attachment, or similar process, without the
prior written consent of the Company. Any attempted assignment, transfer, pledge, or hypothecation
contrary to the provisions hereof shall be void and ineffective for all purposes.

14. Governing Law. This Agreement has been executed in, and shall be deemed to be
performable in, Dallas, Dallas County, Texas. The parties agree that this Agreement shall be
governed by and construed in accordance with the laws of the State of Texas (excluding its

rev date 4/8/04

6

 

conflict
of laws rules). The parties further agree that the courts of the State of Texas, and any courts
whose jurisdiction is derivative on the jurisdiction of the courts of the State of Texas, shall
have personal jurisdiction over all parties to this Agreement.

15. Entire Agreement. By signing the Signature Page, the Optionee agrees to the terms of
this Option. Except for the Plan, this Agreement constitutes the entire agreement between the
parties pertaining to the subject matter hereof and supersedes all prior and contemporaneous
agreements, representations and understandings of the parties. No supplement, modification or
amendment of this Agreement shall be binding unless executed in writing by the party to be charged
therewith. No waiver of any of the provisions of this Agreement shall be deemed, or shall
constitute a waiver of any other provision, whether or not similar, nor shall any waiver constitute
a continuing waiver.

16. Notice. Other than any Exercise Notice, any notice required or permitted to be given
under the Plan or this Agreement shall be in writing and delivered in person or sent by registered
or certified mail, return receipt requested, first-class postage prepaid, (i) if to the Optionee,
at the address shown on the books and records of the Company or at the Optionee’s place of
employment, or (ii) if to the Company, at 2711 N. Haskell Avenue, Suite 2300, LB 36, Dallas, Texas
75204-2960: Attention: Treasurer, or any other address that may be given by either party to the
other party by notice pursuant to this Paragraph. Any notice other than any Exercise Notice, if
sent by registered or certified mail, shall be deemed to have been given when received.

	 	 	 	 	 
	 	ZIX CORPORATION

 	 
	 	By:  	/s/ Bradley C. Almond
 	 
	 	 	Bradley C. Almond 	 
	 	 	Vice President, Chief Financial

Officer and Treasurer 	 

rev date 4/8/04

7

 

	 	 	 	 	 

Signature Page

To

Zix Corporation Stock Option Agreement

	 	 	 
	Effective Date of Grant:

	 	                                                                                
	 
	 	 
	Name of Optionee:

	 	                                                                                
	 
	 	 
	No. of Shares:

	 	                                                                                
	 
	 	 
	Exercise Price:

	 	                                                                                
	 
	 	 
	Name of Plan:

	 	                                                                                
	 
	 	 
	Expiration Date:

	 	                                                                                
	 
	Vesting Schedule:

	 	 

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Date Upon Which Right	 
	Number of Shares	 	 	 	 	 	To Purchase Accrues	 

	 	 	 	 	 	 	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 

	 	 	 	Date:	 	 
	 

	 	 	 	 	 	 
	Optionee Signature
	 	 	 	 	 	 

Sign and return to:

Zix Corporation, 2711 N. Haskell Avenue, Suite 2200, Dallas, Texas 75204-2960

Attn: Legal Department

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