Document:

Exhibit
10.12

 

1995 Share Option Plan

(amended and restated as of December 6, 2006)

 

1.              Purpose
of the Plan

 

1.1.           The purpose of the Plan is to attract,
retain and motivate persons as key service providers to the Corporation and its
Affiliates and to advance the interests of the Corporation by providing such
persons with the opportunity, through share options, to acquire a proprietary
interest in the Corporation.

 

2.                    Defined Terms

 

Where used herein, the
following terms shall have the following meanings, respectively:

 

2.1.           “Affiliate”
has the meaning attributed thereto in the Canada Business Corporations Act, as amended from time to time;

 

2.2.           “Associate”
has the meaning attributed thereto in the Securities Act
(Ontario), as amended from time to time;

 

2.3.           “Black Out Period” means any period during which a policy of the
Corporation prevents an Insider from trading in the Shares.

 

2.4.           “Board”
means the Board of Directors of the Corporation or, if established and duly
authorized to act, the Executive Committee of the Board of Directors of the
Corporation;

 

2.5.           “Change of Control” means the occurrence of (i) a person, including the
person’s Affiliates, Associates and any other person acting jointly or in
concert with that person, becoming the beneficial owner of directly or
indirectly, or, exercising control or direction over, Shares carrying in excess
of 50.1% of the total voting rights attached to the Shares; or (ii) the
Corporation consolidating or amalgamating with, or merging with or into, another
person or selling, assigning, conveying, transferring, leasing or otherwise
disposing of all or substantially all of its assets to any person, or any
person consolidating or amalgamating with, or merging with or into, the
Corporation, in any such event pursuant to a transaction in which any of the
outstanding Shares are converted into or exchanged for cash, securities or
other property other than any such transaction in which the outstanding Shares
are converted into or exchanged for, or the assets of the Corporation are
exchanged for, voting securities or securities exchangeable at the option of
the holder into voting securities of the surviving or transferee person
constituting a majority of such voting securities (giving effect to such
issuance and the exercise of any rights to exchange such securities into voting
securities);

 

2.6.           “Committee”
shall have the meaning attributed thereto in Section 3.1 hereof;

 

2.7.           “Corporation” means Xplore Technologies Corp. and includes any successor corporation
thereof:

 

2.8.           “Eligible Person” means:

 

a.                         any director, officer or employee of the
Corporation or any Affiliate, or any other Service Provider (an “Eligible Individual”); or

 

 

b.                        a corporation controlled by an Eligible
Individual, the issued and outstanding voting shares of which are, and will
continue to be, beneficially owned, directly or indirectly, by such Eligible
Individual and/or the spouse, children and/or grandchildren of such Eligible
Individual (an “Employee Corporation”);

 

2.9.           “Insider”
means any insider, as such term is defined in Subsection 1(1) of the Securities Act (Ontario), of the Corporation, other than a
person who falls within that definition solely by virtue of being a director or
senior officer of an Affiliate, and includes any Associate of any such insider;

 

2.10.     “Market Price” at any date in respect of the Shares means the closing sale price of
such Shares on the Toronto Stock Exchange (or, if such Shares are not then listed
and posted for trading on the Toronto Stock Exchange, on such stock exchange in
Canada on which such Shares are listed and posted for trading as may be
selected for such purpose by the Board) on the trading day immediately
preceding such date.  In the event that
such Shares did not trade on such trading day, the Market Price shall be the
average of the bid and ask prices in respect of such Shares at the close of
trading on such trading day.  In the
event that such Shares are not listed and posted for trading on any stock
exchange, the Market Price shall be the fair market value of such Shares as
determined by the Board in its sole discretion;

 

2.11.      “Option”
means an option to purchase Shares granted to an Eligible Person under the
Plan;

 

2.12.     “Option Price” means the price per Share at which Shares may be purchased under an
Option, as the same may be adjusted from time to time in accordance with
Article 8 hereof;

 

2.13.     “Optioned Shares” means the Shares issuable pursuant to an exercise of Options;

 

2.14.     “Optionee”
means an Eligible Person to whom an Option has been granted and who continues
to hold such Option;

 

2.15.     “Plan”
means the Xplore Technologies Corp. 1995 Share Option Plan, as the same may be
further amended or varied from time to time;

 

2.16.     “Service Provider” means:

 

a.                         an employee or Insider of the Corporation
or any Affiliate; or

 

b.                        any other person or company engaged to
provide ongoing management or consulting services for the Corporation or for
any entity controlled by the Corporation;

 

2.17.     “Share Compensation Arrangement”  means a stock
option, stock option plan, employee stock purchase plan or any other
compensation or incentive mechanism of the Corporation involving the issuance
or potential issuance of shares to one or more Service Providers, including a
share purchase from treasury which is financially assisted by the Corporation
by way of a loan, guaranty or otherwise;

 

2.18.     “Shares”
means the common shares of the Corporation or, in the event of an adjustment
contemplated by Article 8 hereof, such other shares or securities to which an
Optionee may be entitled upon the exercise of an Option as a result of such
adjustment; and

 

2.19.     “Voting Shares” means, collectively, the common shares of the Corporation and any
preferred shares of the Corporation that are convertible into common shares of
the Corporation without payment of any additional consideration or, in the
event of an 

 

 

adjustment
contemplated by Article 8 hereof, such other shares or securities to which an
Optionee may be entitled upon the exercise of an Option as a result of such adjustment.

 

3.                    Administration of the Plan

 

3.1.           
The Plan shall be administered by the Board or by any committee (the “Committee”)
of the Board established by the Board for that purpose.

 

3.2.           
The Board or Committee shall have the power, where consistent with the general purpose
and intent of the Plan and subject to the specific provisions of the Plan:

 

a.                         to establish policies and to adopt rules
and regulations for carrying out the purposes, provisions and administration of
the Plan;

 

b.                        to interpret and construe the Plan and to
determine all questions arising out of the Plan or any Option, and any such
interpretation, construction or determination made by the Committee shall be
final, binding and conclusive for all purposes;

 

c.                         to determine the number of Shares covered
by each Option;

 

d.                        to determine the Option Price of each
Option;

 

e.                         to determine the time or times when
Options will be granted and exercisable;

 

f.                           to determine if the Shares which are
issuable on the exercise of an Option will be subject to any restrictions upon
the exercise of such Option; and

 

g.                        to prescribe the form of the instruments
relating to the grant, exercise and other terms of Options.

 

3.3.           
The Board or the Committee may, in its discretion, require as conditions to the
grant or exercise of any Option that the Optionee shall have:

 

a.                         represented, warranted and agreed in form
and substance satisfactory to the Corporation that he or she is acquiring and
will acquire such Option and the Shares to be issued upon the exercise thereof
or, as the case may be, is acquiring such Shares, for his or her own account,
for investment and not with a view to or in connection with any distribution,
that he or she has had access to such information as is necessary to enable him
or her to evaluate the merits and risks of such investment and that he or she
is able to bear the economic risk of holding such Shares for an indefinite
period;

 

b.                        agreed to restrictions on transfer in
form and substance satisfactory to the Corporation and to an endorsement on any
option agreement or certificate representing the Shares making appropriate
reference to such restrictions; and

 

c.                         agreed to indemnify the Corporation in
connection with the foregoing.

 

3.4.           
Any Option granted under the Plan shall be subject to the requirement that, if
at any time counsel to the Corporation shall determine that the listing,
registration or qualification of the Shares subject to such Option upon any
securities exchange or under any law or regulation of any jurisdiction, or the
consent or approval of any securities exchange or any governmental or
regulatory body, is necessary as a condition of, or in connection with, the
grant or exercise of such Option or the issuance or purchase of Shares
thereunder, such Option may not be accepted or exercised in whole or in part
unless such listing, registration, 

 

 

qualification,
consent or approval shall have been effected or obtained on conditions
acceptable to the Board or the Committee. 
Nothing herein shall be deemed to require the Corporation to apply for
or to obtain such listing, registration, qualification, consent or approval.

 

4.              Shares
Subject to the Plan

 

4.1               Options may be
granted in respect of authorized and unissued Shares, provided that the
aggregate number of Shares reserved for issuance upon the exercise of all
Options granted under the Plan, subject to any adjustment of such number
pursuant to the provisions of Article 8 hereof shall not exceed 26,800,000
common shares of the Corporation or such greater number of Shares as may be
determined by the Board and approved, if required, by the shareholders of the
Corporation and by any relevant stock exchange or other regulatory
authority.  Optioned Shares in respect of
which Options are not exercised shall be available for subsequent Options.  No fractional Shares may be purchased or
issued under the Plan.

 

5.              Eligibility;
Grant; Terms of Options

 

5.1.           
Options may be granted by the Board to any Eligible Person.

 

5.2.           Subject
as herein and otherwise specifically provided in this Article 5, the number of
Shares subject to each Option, the Option Price of each Option, the expiration
date of each Option, the extent to which each Option is exercisable from time
to time during the term of the Option and other terms and conditions relating
to each such Option shall be determined by the Board.  The Board or the Committee may, in their
entire discretion, subsequent to the time of granting Options hereunder, permit
an Optionee to exercise any or all of the unvested options then outstanding and
granted to the Optionee under this Plan, in which event all such unvested
Options then outstanding and granted to the Optionee shall be deemed to be
immediately exercisable during such period of time as may be specified by the
Board or the Committee.

 

5.3.           
Subject to any adjustments pursuant to the provisions of Article 8 hereof, the
Option Price of any Option shall in no circumstances be lower than the Market
Price on the date on which the grant of the Option is approved by the Board.  If, as and when any Shares have been duly
purchased and paid for under the terms of an Option, such Shares shall be
conclusively deemed allotted and issued as fully paid non-assessable Shares at
the price paid therefor.

 

5.4.           
The terms of an Option shall not exceed 10 years from the date of the grant of
the Option.

 

5.5.           
No Options shall be granted to any Optionee if the total number of Shares
issuable to such Optionee under this Plan, together with any Shares reserved
for issuance to such Optionee under options for services or any other stock
option plans, would exceed 5% of the issued and outstanding Shares.

 

5.6.           
An Option is personal to the Optionee and non-assignable (whether by operation
of law or otherwise), except as provided for herein.  Upon any attempt to transfer, assign, pledge,
hypothecate or otherwise dispose of an Option contrary to the provisions of the
Plan, or upon the levy of any attachment or similar process upon an Option, the
Option shall, at the election of the Corporation, cease and terminate and be of
no further force or effect whatsoever.

 

5.7.           
The number of Shares issuable to Insiders, at any time, pursuant to the Plan
and any other Share Compensation Arrangement cannot exceed 10% of the issued
and outstanding 

 

 

Voting
Shares.  The number of Shares issued to
Insiders, within any one year period, under the Plan and any other Share
Compensation Arrangement cannot exceed 10% of the issued and outstanding Voting
Shares.

 

5.8.           If
the date on which an Option expires occurs during or within 10 days after the
last day of a Black Out Period, the expiry date for the Option will be the last
day of such 10-day period.

 

6.              Termination
of Employment; Death

 

6.1.           Subject
to Sections 6.2 and 6.3 hereof and to any express resolution passed by the
Committee or the Board with respect to an Option, an Option and all rights to
purchase Shares pursuant thereto shall expire and terminate immediately upon
the Optionee who holds such Option ceasing to be an Eligible Person.

 

6.2.           
The Committee or the Board may, in their entire discretion, at the time of the
granting of Options hereunder, determine that provisions to the following
effect shall be contained in the written option agreement between the
Corporation and the Optionee:

 

a.                         If an Optionee shall retire, or terminate
his employment or directorship with the consent of the Board under
circumstances equating to retirement, while holding an Option which has not
been fully exercised, such Optionee may exercise the Option at any time within
six (6) months of the date of such retirement or termination equating to
retirement, but only to the same extent to which the Optionee could have
exercised the Option immediately before the date of such retirement or
termination equating to retirement.

 

b.                        If an Optionee ceases to serve the
Corporation or any Affiliate, as the case may be, as an employee, officer or
director for cause, no Option held by such Optionee may be exercised following
the date on which such Optionee ceases to serve the Corporation or any
Affiliate, as the case may be, in such capacity.  If an Optionee ceases to serve the
Corporation or any Affiliate as an employee, officer or director for any reason
other than for cause, unless otherwise provided for in this Plan, no Option
held by such Optionee at the effective date thereof may be exercised by the
Optionee following the date which is ninety (90) days after the date on which
the Optionee ceases to serve the Corporation or any Affiliate, as the case may
be, in such capacity.

 

c.                         In the event that an Optionee commits an
act of bankruptcy or any proceeding is commenced against the Optionee under the
Bankruptcy and Insolvency Act (Canada) or other applicable bankruptcy or
insolvency legislation in force at the time of such bankruptcy and such
proceeding remains undismissed for a period of thirty (30) days, no Option held
by such Optionee may be exercised following the date on which such Optionee
commits such act of bankruptcy or such proceeding remains undismissed, as the
case may be.

 

6.3.           
If an Optionee shall die holding an Option which has not been fully exercised,
his personal representatives, heirs or legatees may, at any time within three
months from the date of grant of probate of the will or letters of
administration of the estate of the decedent or within one year after the date
of such death, whichever is the lesser time, exercise the Option with respect
to the unexercised balance of the Shares subject to the Option but only to the
same extent to which the decedent could have exercised the Option immediately
before the date of such death.

 

 

6.4.           
For greater certainty, Options shall not be affected by any change of
employment of the Optionee or by the Optionee ceasing to be a director of the
Corporation provided that the Optionee continues to be an Eligible Person.

 

6.5.           
For the purposes of this Article 6, a determination by the Corporation that an
Optionee was discharged for “cause” shall be binding on the Optionee.

 

6.6.           
If the Optionee is an Employee Corporation, the references to the Optionee in
this Article 6 shall be deemed to refer to the Eligible Individual associated
with the Employee Corporation.

 

7.              Exercise
of Options

 

7.1.           
Subject to the provisions of the Plan, an Option may be exercised from time to
time by delivery to the Corporation at its registered office of a written
notice of exercise addressed to the Secretary of the Corporation specifying the
number of Shares with respect to which the Option is being exercised and
accompanied by payment in full, by cash or certified cheque, of the Option
Price of the Shares then being purchased. 
Subject to any provisions of the Plan to the contrary, certificates for
such Shares shall be issued and delivered to the Optionee within a reasonable
time following the receipt of such notice and payment.

 

7.2.           
Notwithstanding any of the provisions contained in the Plan or in any Option,
the Corporation’s obligation to issue Shares to an Optionee pursuant to the
exercise of any Option shall be subject to:

 

a.                         completion of such registration or other
qualification of such Shares or obtaining approval of such governmental or
regulatory authority as the Corporation shall determine to be necessary or
advisable in connection with the authorization, issuance or sale thereof;

 

b.                        the admission of such Shares to listing
on any stock exchange on which the Shares may then be listed;

 

c.                         the receipt from the Optionee of such
representations, warranties, agreements and undertakings, as the Corporation
determines to be necessary or advisable in order to safeguard against the
violation of the securities laws of any jurisdiction; and

 

d.                        the satisfaction of any conditions on
exercise prescribed pursuant to Article 3 hereof.

 

7.3.           
Options shall be evidenced by a share option agreement, instrument or
certificate in such form not inconsistent with this Plan as the Committee or
the Board may from time to time determine provided that the substance of
Article 5 be included therein.

 

8.              Certain
Adjustments

 

8.1.           
In the event that the Shares are at any time changed or affected as a result of
the declaration of a stock dividend thereon or their subdivision or
consolidation, the number of Shares reserved for Option shall be adjusted
accordingly by the Board or the Committee to such extent as they deem proper in
their discretion.  In such event, the
number of, and the price payable for, any Shares that are then subject to
Option may also be adjusted by the Board or the Committee to such extent, if
any, as they deem proper in their discretion.

 

 

8.2.           
If at any time after the grant of an Option to any Optionee and prior to the
expiration of the term of such Option, the Shares shall be reclassified,
reorganized or otherwise changed, otherwise than as specified in Section 8.1
or, subject to the provisions of Subsection 9.2(a) hereof, the Corporation
shall consolidate, merge or amalgamate with or into another corporation (the
corporation resulting or continuing from such consolidation, merger or
amalgamation being herein called the “Successor Corporation”) the Optionee
shall be entitled to receive upon the subsequent exercise of his or her Option
in accordance with the terms hereof and shall accept in lieu of the number of
Shares to which he or she was theretofore entitled upon such exercise but for
the same aggregate consideration payable therefor, the aggregate number of
shares of the appropriate class and/or other securities of the Corporation or
the Successor Corporation (as the case may be) and/or other consideration from
the Corporation or the Successor Corporation (as the case may be) that the
Optionee would have been entitled to receive as a result of such
reclassification, reorganization or other change or, subject to the provisions
of Subsection 9.2(a) hereof, as a result of such consolidation, merger or
amalgamation, if on the record date of such reclassification, reorganization or
other change or the effective date of such consolidation, merger or
amalgamation, as the case may be, he or she had been the registered holder of
the number of Shares to which he or she was theretofore entitled upon such
exercise.

 

9.              Amendment or
Discontinuance of the Plan

 

9.1.            The Board may amend the Plan at any time,
provided, however, that no such amendment may materially and adversely affect
any Option previously granted to an Optionee without the consent of the
Optionee, except to the extent required by law. 
Any such amendment shall, if required, be subject to the prior approval
of, or acceptance by, any stock exchange on which the Shares are listed and
posted for trading.  Without limiting the
generality of the foregoing, the Board may, without the approval of the
security holders of the Corporation, make amendments to the Plan for any of the
following purposes:

 

a.       changing the eligibility for and
limitations on participation in the Plan;

 

b.       changing the terms on which Options may
be granted and exercised including, 
without limitation, the provisions relating to Exercise Price, vesting,
expiry, assignment and the adjustments to be made pursuant to Section 9.2;

 

c.       making any addition to, deletion from or
alteration of the provisions of the Plan that are necessary to comply with
applicable law or the requirements of any regulatory authority or stock
exchange;

 

d.       correcting or rectifying any ambiguity,
defective provision, error or omission in the Plan; and

 

e.       changing the provisions relating to the
administration of the Plan,

 

provided that if any such
amendment would lead to a significant or unreasonable dilution of the
outstanding Shares or provide additional material benefits to Insiders, approval
of the holders of the outstanding Shares must be obtained.

 

9.2.           
Notwithstanding anything contained to the contrary in this Plan or in any
resolution of the Board in implementation thereof:

 

a.                         subject to the rules of any relevant
stock exchange or other regulatory authority and to such adjustments as the
Board may, by resolution, from time to time determine, upon the occurrence of a
Change of Control of the Corporation, all outstanding Options shall 

 

 

immediately vest
and become exercisable notwithstanding the terms and conditions associated with
such Options established by any share option agreement, instrument or
certificate;

 

b.                        in the event the Corporation proposes to
amalgamate, merge or consolidate with any other corporation (other than a
wholly-owned Subsidiary) or to liquidate, dissolve or wind-up, or in the event
an offer to purchase or repurchase the Shares of the Corporation or any part
thereof shall be made to all or substantially all holders of Shares of the
Corporation, the Corporation shall have the right, upon written notice thereof
to each Optionee holding Options under the Plan, to permit the exercise of all
such Options within the 20 day period next following the date of such notice
and to determine that upon the expiration of such 20 day period, all rights of
the Optionees to such Options or to exercise same (to the extent not
theretofore exercised) shall ipso facto
terminate and cease to have further force or effect whatsoever;

 

c.                         in the event of the sale by the
Corporation of all or substantially all of the assets of the Corporation as an
entirety or substantially as an entirety so that the Corporation shall cease to
operate as an active business, the Corporation shall have the right, upon
written notice thereof to each Optionee holding Options under the Plan, to
permit the exercise of any outstanding Option as to all or any part of the
Optioned Shares in respect of which the Optionee would have been entitled to
exercise the Option in accordance with the provisions of the Plan at the date
of completion of any such sale at any time up to and including, but not after
the earlier of: (i) the close of business on that date which is thirty (30)
days following the date of completion of such sale; and (ii) the close of
business on the expiration date of the Option; but the Optionee shall not be
entitled to exercise the Option with respect to any other Optioned Shares;

 

d.                        subject to the rules of any relevant
stock exchange or other regulatory authority, the Board may, by resolution,
advance the date on which any Option may be exercised or extend the expiration
date of any Option.  The Board shall not,
in the event of any such advancement or extension, be under any obligation to
advance or extend the date on or by which Options may be exercised by any other
Optionee; and

 

e.                         the Board may, by resolution, but subject
to applicable regulatory requirements, decide that any of the provisions hereof
concerning the effect of termination of the Optionee’s employment shall not
apply to any Optionee for any reason acceptable to the Board.

 

Notwithstanding the provisions of this Article 9,
should changes be required to the Plan by any securities commission, stock
exchange or other governmental or regulatory body of any jurisdiction to which
the Plan or the Corporation now is or hereafter becomes subject, such changes
shall be made to the Plan as are necessary to conform with such requirements
and, if such changes are approved by the Board, the Plan, as amended, shall be
filed with the records of the Corporation and shall remain in full force and
effect in its amended form as of and from the date of its adoption by the
Board.

 

9.3.           
Notwithstanding any other provision of this Plan, the Board may at any time by
resolution terminate this Plan.  In such
event, all Options then outstanding and granted to an Optionee may be exercised
by the Optionee for a period of thirty (30) days after the date on which the
Corporation shall have notified all Optionees of the termination of this Plan,
but only to the same extent as the Optionee could have exercised such Options
immediately prior to the date of such notification.

 

 

10.       Miscellaneous
Provisions

 

10.1.     An Optionee shall not have any rights as a
shareholder of the Corporation with respect to any of the Shares covered by
such Option until the date of issuance of a certificate for Shares upon the
exercise of such Option, in full or in part, and then only with respect to the
Shares represented by such certificate or certificates.  Without in any way limiting the generality of
the foregoing, no adjustment shall be made for dividends or other rights for
which the record date is prior to the date such share certificate is issued.

 

10.2.     Nothing
in the Plan or any Option shall confer upon an Optionee any right to continue
or be re-elected as a director of the Corporation or any right to continue in
the employ of the Corporation or any Affiliate, or affect in any way the right
of the Corporation or any Affiliate to terminate his or her employment at any
time; nor shall anything in the Plan or any Option be deemed or construed to
constitute an agreement, or an expression of intent, on the part of the
Corporation or any Affiliate, to extend the employment of any Optionee beyond
the time which he or she would normally be retired pursuant to the provisions
of any present or future retirement plan of the Corporation or any Affiliate or
any present or future retirement policy of the Corporation or any Affiliate, or
beyond the time at which he or she would otherwise be retired pursuant to the
provisions of any contract of employment with the Corporation or any Affiliate.

 

10.3.     Notwithstanding
Section 5.6 hereof, Options may be transferred or assigned between an Eligible
Individual and the related Employee Corporation provided the assignor delivers
notice to the Corporation prior to the assignment and the Committee or the
Board approves such assignment.

 

10.4.     The
Plan and all matters to which reference is made herein shall be governed by and
interpreted in accordance with the laws of the Province of Ontario and the laws
of Canada applicable therein.

 

11.       Shareholder
and Regulatory Approval

 

11.1.     The Plan shall be subject to ratification by the
shareholders of the Corporation to be effected by a resolution passed at a
meeting of the shareholders of the Corporation, and to acceptance by any
relevant regulatory authority.  Any
Options granted prior to such ratification and acceptance shall be conditional
upon such ratification and acceptance being given and no such Options may be
exercised unless and until such ratification and acceptance are given.Exhibit 10.10  

CRA INTERNATIONAL, INC.  

Nonqualified Stock Option

under the 2006 Equity Incentive Plan  

        Pursuant to the CRA International, Inc. 2006 Equity Incentive Plan (the "Plan") and subject to the terms and conditions hereinafter set forth, CRA
International, Inc. (the "Company") hereby grants to the employee named below (hereinafter the "Holder") the right and option to purchase from the Company an aggregate
of                        shares
of the Company's common stock, without par value ("Common Stock"), at the time and in the manner hereinafter stated. The basic terms of this option are as follows: 

Date
of Grant: 

Name
of Holder: 

Address: 

City,
State, Zip: 

Social
Security Number: 

Maximum
number of shares for

which this option is exercisable: 

Exercise
(purchase) price per share: 

Expiration
date of option: 

Vesting
Rate: 

Position
in, or relationship to, the Company: 

Other terms and conditions:  

        This option is subject to the Terms and Conditions attached hereto as Schedule A, which are incorporated by
reference herein. By signing below you both accept this option and acknowledge that you have read, understand, agree to and accept the Terms and Conditions. The undersigned further acknowledges
receipt of the Plan, as amended, the prospectus describing the Plan (documents incorporated by reference in the prospectus are available upon request), and the annual report of the Company for the
most recent fiscal year. 

        Signed
as a Massachusetts agreement under seal as of the Grant Date: 

CRA
INTERNATIONAL, INC. 

	

 By: James C. Burrows, President	
 	

{Insert Holder name}

 

Schedule A  

CRA INTERNATIONAL, INC.  

Nonqualified Stock Option

under the 2006 Equity Incentive Plan  

TERMS AND CONDITIONS  

        FIRST: This option is and shall be subject in every respect to the provisions of the Plan, as may be amended from
time to time, which is incorporated herein by reference and made a part hereof. In the event of any conflict or inconsistency between the terms hereof and those of the Plan, the latter shall prevail.
References herein to the Plan Administrator shall mean the Plan Administrator as defined in the Plan. 

        Subject
to the other provisions contained herein, this option shall be exercised by the delivery of written notice to the Company (the "Notice") setting forth the number of shares with
respect to which the option is to be exercised and the address to which the certificates for such shares are to be mailed, together with (i) cash or check payable to the order of the Company
for an amount equal to the option price for the number of shares specified in the Notice; or (ii) with the consent of the Plan Administrator, by delivery to the Company of shares of Common
Stock that either have been purchased by the Holder on the open market, or have been beneficially owned by the Holder for a
period of at least six months and are not then subject to restriction under any Company plan ("mature shares"); (iii) with the consent of the Plan Administrator, by delivery of a personal
recourse note issued by the Holder to the Company in a principal amount equal to such aggregate exercise price and with such other terms, including interest rate and maturity, as the Plan
Administrator may determine in its discretion; provided, however, that the interest rate borne by such note shall not be less than the lowest applicable federal rate, as defined in
Section 1274(d) of the Internal Revenue Code of 1986, as amended; (iv) with the consent of the Plan Administrator, by delivery of such documentation as the Plan Administrator and a
broker, if applicable, shall require to effect an exercise of the option and delivery to the Company of the sale or loan proceeds required to pay the option price of the shares for which the option is
being exercised; (v) with the consent of the Plan Administrator, such other consideration which is acceptable to the Plan Administrator and which has a fair market value equal to the option
price for the shares as to which the option is being exercised; or (vi) with the consent of the Plan Administrator, a combination of (i), (ii), (iii), (iv), (v) and/or (vi). For the
purpose of the preceding sentence, the fair market value per share of the Common Stock so delivered to the Company shall be the closing price per share on the date of delivery as reported by a
nationally recognized stock exchange, or, if the Common Stock is not listed on such an exchange, as reported by the Nasdaq Stock Market, Inc. or, if the Common Stock is not reported by the
Nasdaq Stock Market, Inc., the mean of the bid and asked prices per share on the date of delivery or, if the Common Stock is not traded over-the-counter, the fair market
value per share as determined by the Plan Administrator. 

        SECOND: The Company, in its discretion, may file a registration statement on Form S-8 under the Securities Act
of 1933 to register shares of Common Stock reserved for issuance under the Plan. At any time at which such a registration statement is not in effect, it shall be an additional condition precedent to
any exercise of this option that the Holder shall deliver to the Company a customary "investment letter" satisfactory to the Company and its counsel in which, among other things, the Holder shall
state that the Holder is purchasing the shares for investment and acknowledges that they are not freely transferable except in compliance with state and federal securities laws. 

        THIRD: Within a reasonable time after receipt by the Company of the Notice and payment for any shares to be purchased hereunder and, if
required as a condition to exercise, the investment letter described in paragraph SECOND, the Company will deliver or cause to be delivered to the Holder (or if any other individual or individuals are
exercising this option, to such individual or individuals) at the address specified in the Notice a certificate or certificates for the number of shares with respect to 

2

 

which
the option is then being exercised, registered in the name or names of the individual or individuals exercising the option, either alone or jointly with another person or persons with rights of
survivorship, as the individual or individuals exercising the option shall prescribe in writing to the Company at or prior to such purchase; provided, however, that if any law or regulation or order
of the Securities and Exchange Commission or other body having jurisdiction in the premises shall require the Company or the Holder (or the individual or individuals exercising this option) to take
any action in connection with the shares then being purchased, the date for the delivery of the certificates for such shares shall be extended for the period necessary to take and complete such
action, it being understood that the Company shall have no obligation to take and complete any such action. The Company may imprint upon such certificate the legend set forth in the Plan or such other
legends referencing stock transfer restrictions which counsel for the Company considers appropriate. Delivery by the Company of the certificates for such shares shall be deemed effected for all
purposes when the Company or a stock transfer agent of the Company shall have deposited such certificates in the United States mail, addressed to the Holder, at the address specified in the Notice. 

        FOURTH: The existence of this option shall not affect in any way the right or power of the Company or its stockholders to make or
authorize any or all adjustments, recapitalizations, reorganizations or other changes in the Company's capital structure or its business, or any merger or consolidation of the Company, or any issue of
Common Stock, or any issue of bonds, debentures, preferred or prior preference stock or other capital stock ahead of or affecting the Common Stock or the rights thereof, or the dissolution or
liquidation of the Company, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise. 

        If
the Company shall effect a subdivision or consolidation of shares or other capital readjustment, the payment of a stock dividend, or other increase or reduction of the number of
shares of the Common Stock outstanding, in any such case without receiving compensation therefor in money, services or property, then the number, class, and price per share of shares of stock subject
to this option shall be appropriately adjusted in such a manner as to entitle the Holder to receive upon exercise of this option, for the same aggregate cash consideration, the same total number and
class of shares as the Holder would have received as a result of the event requiring the adjustment had the Holder exercised this option in full immediately prior to such event. 

        After
a merger of one or more corporations or other entities with or into the Company or after a consolidation of the Company and one or more corporations or other entities in which the
stockholders of the Company immediately prior to such merger or consolidation own after such merger or consolidation securities representing at least fifty percent (50%) of the voting power of the
Company or the surviving or resulting corporation or entity, as the case may be, the Holder shall, at no additional cost, be entitled upon exercise of this option to receive in lieu of the shares of
Common Stock as to which this option was exercisable immediately prior to such event, the number and class of shares of stock or other securities, cash or property (including, without limitation,
shares of stock or other
securities of another corporation or entity or Common Stock) to which the Holder would have been entitled pursuant to the terms of the agreement of merger or consolidation if, immediately prior to
such merger or consolidation, the Holder had been the holder of record of a number of shares of Common Stock equal to the number of shares for which this option shall be so exercised. 

        If
the Company is merged with or into or consolidated with another corporation or other entity, other than a merger or consolidation in which the stockholders of the Company immediately
prior to such merger or consolidation continue to own after such merger or consolidation securities representing at least fifty percent (50%) of the voting power of the Company or the surviving or
resulting entity, as the case may be, or if the Company is liquidated, or sells or otherwise disposes of substantially all its assets to another entity while this option remains outstanding, then
(i) subject to the provisions of clause (iii) below, after the effective date of such merger, consolidation, liquidation, sale or disposition, as the case may be, the Holder of this
option shall be entitled, upon exercise of this option, to receive, in lieu of the shares of Common Stock as to which this option was exercisable immediately prior to 

3

 

such
event, the number and class of shares of stock or other securities, cash or property (including, without limitation, shares of stock or other securities of another corporation or entity or Common
Stock) to which the Holder would have been entitled pursuant to the terms of the merger, consolidation, liquidation, sale or disposition if, immediately prior to such event, the Holder had been the
holder of a number of shares of Common Stock equal to the number of shares as to which such option shall be so exercised; (ii) the Plan Administrator may accelerate the time for exercise of
this option, so that from and after a date prior to the effective date of such merger, consolidation, liquidation, sale or disposition, as the case may be, specified by the Plan Administrator, such
accelerated options shall be exercisable in full; or (iii) this option may be canceled by the Plan Administrator as of the effective date of any such merger, consolidation, liquidation, sale or
disposition provided that (x) notice of such cancellation shall be given to the Holder and (y) the Holder shall have the right to exercise this option to the extent that the same is then
exercisable or, if the Plan Administrator shall have accelerated the time for exercise of this option pursuant to clause (ii) above, in full during the 10-day period preceding the
effective date of such merger, consolidation, liquidation, sale or disposition. 

        Except
as hereinbefore expressly provided, the issue by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, for cash or property, or
for labor or services, either upon direct sale or upon the exercise of rights or warrants to subscribe therefor, or upon conversion of shares or obligations of the Company convertible into such shares
or other securities, shall not affect, and no adjustment by reason thereof shall be made with respect to, the number or price of shares of Common Stock then subject to outstanding options. 

        FIFTH: No person shall, by virtue of the granting of this option to the Holder, be deemed to be a holder of any shares purchasable under
this option or to be entitled to the rights or privileges of a holder of such shares unless and until this option has been exercised with respect to such shares and they have been issued pursuant to
that exercise of this option. 

        The
Company shall, at all times while any portion of this option is outstanding, reserve and keep available, out of shares of its authorized and unissued stock or reacquired shares, a
sufficient number of shares of its Common Stock to satisfy the requirements of this option; shall comply with the terms of this option promptly upon exercise of the option rights; and shall pay all
fees or expenses necessarily incurred by the Company in connection with the issuance and delivery of shares pursuant to the exercise of this option. 

        SIXTH: This option is not transferable by the Holder otherwise than by will or under the laws of descent and distribution. The granting of
this option shall not impose upon the Company any obligation to employ or to continue to employ the Holder. The right of the Company to terminate the employment of the Holder shall not be diminished
or affected by reason of the fact that this option has been granted to such Holder. 

        This
option is exercisable, subject to the vesting rate and certain other terms and conditions contained herein, at any time prior to the termination of this option and during the
Holder's lifetime, only by the Holder. Except as may be otherwise expressly provided herein, this option shall terminate on the earliest of: 

        (a)   the
date of expiration thereof; 

        (b)   immediately
upon the termination of the Holder's employment with or performance of services for the Company (or any parent or subsidiary of the Company) by the Company
(or any such parent or subsidiary) for cause (as determined by the Company or such parent or subsidiary); or 

        (c)   in
the case of termination without cause or voluntary termination by the Holder, thirty (30) days after the termination of the Holder's employment with or
performance of services for the Company (or any parent or subsidiary of the Company) for any reason other than death or retirement. 

4

 

        An
employment relationship between the Company (or any parent or subsidiary of the Company) and the Holder shall be deemed to exist during any period in which the Holder is employed by
the Company (or any such parent or subsidiary). Whether authorized leave of absence, or absence on military or government service, shall constitute termination of the employment relationship between
the Company (or any parent or subsidiary of the Company) and the Holder shall be determined by the Plan Administrator at the time thereof. 

        As
used herein, "cause" shall mean (w) any material breach by the Holder of any agreement to which the Holder and the Company (or any parent or subsidiary) are both parties,
(x) any act or omission to
act by the Holder which may have a material and adverse effect on the business of the Company (or any parent or subsidiary) or on the Holder's ability to perform services for the Company (or any
parent or subsidiary), including, without limitation, the commission of any crime (other than ordinary traffic violations), (y) any material misconduct or material neglect of duties by the
Holder in connection with the business or affairs of the Company (or any parent or subsidiary) or any affiliate of the Company (or any such parent or subsidiary) or (z) "cause" as may otherwise
be defined in any other agreements between the Holder and the Company (or any such parent or subsidiary). 

        In
the event of the retirement of the Holder in good standing from the employ of the Company for reasons of age or disability under the then established rules of the Company, this option
shall terminate on the earlier of its expiration date and a date ninety (90) days after the Holder's retirement. After such retirement the Holder shall have the right, at any time prior to such
termination, to exercise this option to the extent the Holder was entitled to exercise such option immediately prior to such retirement. 

        In
the event of the death of the Holder while the Holder is in the employ of the Company (or any parent or subsidiary of the Company) and before the expiration date of this option, this
option shall terminate on the earlier of its expiration date and a date one (1) year after the death of the Holder. After the death of the Holder, the Holder's executors, administrators or any
person or persons to whom the Holder's option has been transferred by will or by the laws of descent and distribution shall have the right to exercise this option at any time prior to the earlier of
the date of expiration of this option or one (1) year after the date of the death of the original Holder. 

        SEVENTH: The Holder hereby agrees that the Company (or any parent or subsidiary of the Company) may withhold from amounts due to the
Holder from the Company (or any such parent or subsidiary), the appropriate amount of federal, state and local withholding taxes attributable to the Holder's exercise of this option. 

        At
the Holder's election, with the consent of the Plan Administrator, the amount required to be withheld may be satisfied, in whole or in part, by (i) authorizing the Company to
withhold from shares of Common Stock to be issued pursuant to the exercise of this option a number of shares with an aggregate fair market value that would satisfy the minimum withholding amount due
with respect to such exercise, or (ii) transferring to the Company a sufficient number of mature shares of Common Stock with an aggregate fair market value that would satisfy the minimum
withholding amount due. 

        The
Holder further agrees that, if the Company does not withhold an amount due to the Holder from the Company sufficient to satisfy the Company's withholding obligation, the Holder will
reimburse the Company on demand, in cash, for the amount underwithheld. 

        EIGHTH: Any notice to be given to the Company hereunder shall be deemed sufficient if addressed to the Company and delivered by hand or by
mail to the Treasurer of the Company, 200 Clarendon Street, Boston, Massachusetts 02116 or such other address as the Company may hereafter designate. 

        Any
notice to be given to the Holder hereunder shall be deemed sufficient if addressed to and delivered in person to the Holder or when deposited in the mail, postage prepaid, addressed
to the Holder at the Holder's address furnished to the Company. 

5

 

        NINTH: This option is subject to all laws, regulations and orders of any governmental authority which may be applicable thereto and,
notwithstanding any of the provisions hereof, the Holder agrees that the Holder will not exercise the option granted hereby nor will the Company be obligated to issue or sell any shares of stock
hereunder if the exercise thereof or the issuance or sale of such shares, as the case may be, would constitute a violation by the Holder or the Company of any such law, regulation or order or any
provision thereof. The Company shall not be obligated to take any affirmative action in order to cause the exercise of this option or the issuance or sale of shares pursuant hereto to comply with any
such law, regulation, order or provision. 

        TENTH: The Holder agrees that upon request of the Company or the underwriters managing any underwritten offering of the Company's
securities, the Holder shall agree in writing that for a period of time not to exceed one hundred eighty (180) days from the effective date of any registration of securities of the Company the
Holder will not sell, make any short sale of, loan, grant any option for the purchase of, or otherwise dispose of any shares of Common Stock issued pursuant to the exercise of this option without the
prior written consent of the Company or such underwriters, as the case may be. 

        ELEVENTH: This option shall be governed by, and construed and enforced in accordance with, the substantive laws of The Commonwealth of
Massachusetts. 

*    *    *

6

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