Document:

exv10w17

 

Exhibit 10.17

OPTION CERTIFICATE

NONQUALIFIED STOCK OPTION (Non-Assignable)

For XXXX Shares

To Purchase Common Stock of Forrester Research, Inc.

Issued Pursuant to the Forrester Research, Inc. 2006 Equity Incentive Plan (“Plan”)

     THIS
CERTIFIES that on ___ XX, 200___ (“Issuance Date”) First Last (the “Holder”), an
employee of Forrester Research, Inc. (the “Company”) or an Affiliate that is also a “subsidiary
corporation” (as defined in Section 424 of the Code) with respect to the Company, was granted an
option (the “Option” or this “Option”) to purchase all or any part of X,XXX fully paid and
non-assessable shares (“Shares”) of Common Stock (par value of $.01 per share) of the Company at
the option price $XX.XX per share, which is not less than the fair market value of the Shares on
the date of grant of this Option, upon and subject to the following terms and conditions:

     1. Nature of Option. This Option is to be treated for all purposes as an option that
does not qualify as an incentive stock option as defined in Section 422 of the Code. This Option
is intended not to constitute or provide for “nonqualified deferred compensation” subject to
Section 409A of the Code. The right and option to purchase shares hereby granted shall be
exercisable as provided in Paragraph 3 hereof, in accordance with the determination made by the
Compensation and Nominating Committee (the “Committee”) of the Company’s Board of Directors
administering the Plan.

     2. Expiration.
This Option shall expire on X, 20___ (“Expiration Date”).

     3. Vesting and Exercise. This Option shall not be transferable by the Holder
otherwise than by will or the laws of descent and distribution, and during the lifetime of the
Holder may be exercised only by the Holder.

     Except as provided below in this Paragraph 3, this Option will not vest and may not be
exercised unless the following conditions have been met: [This paragraph will provide that the
Option will become exercisable upon achievement of specific performance goals, as determined by the
Committee, which may relate to Company performance, individual performance or both, and may have
multiple vesting dates, goals and portions of Shares that are subject to such vesting.] Except as
otherwise permitted herein, if the Holder’s employment is terminated prior to the full vesting of
the Option, all rights with respect to any unvested portion shall be forfeited and the remaining
portion shall remain exercisable, if at all, in accordance with Paragraph 6 below.

     Notwithstanding the foregoing, the unvested portion of this Option shall vest to the extent,
if any, provided in and in accordance with the provisions of Section 7(a) of the Plan (pertaining
to “Covered Transactions”) in the circumstances described in said Section 7(a).

     This Option shall be exercised by the delivery of a written notice duly signed by the Holder,
together with this Option certificate, and the full purchase price of the Shares purchased pursuant
to the exercise of this Option, to the Committee or an officer of the Company appointed

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by the Committee for the purpose of receiving the same. This Option may not be exercised at
any time when such Option, or the exercise or payment thereof, may result in the violation of any
law or governmental order or regulation.

     Payment for the Shares purchased pursuant to the exercise of this Option shall be made in full
at the time of the exercise of the Option (a) by check payable to the Company, or (b) by delivery
of an unconditional and irrevocable undertaking by a broker to deliver promptly to the Company
sufficient funds to pay the exercise price.

     4. Delivery of Shares. Within a reasonable time after the exercise of the Option, the
Company shall cause to be delivered to the person entitled thereto the number of Shares purchased
pursuant to the exercise of the Option.

     5. Withholding. In the event that the Holder elects to exercise this Option or any
part thereof, and if the Company or its subsidiaries shall be required to withhold any amount by
reason of any federal, state, or local tax rules or regulations in respect of the issuance of
Shares to the Holder pursuant to the Option or upon the disposition of any such Shares, the Company
or any such subsidiary shall be entitled to satisfy such withholding obligations in accordance with
the terms of Section 6 of the Plan.

     6. Termination. Notwithstanding Paragraph 3 above, this Option, to the extent
unexercised, shall terminate immediately upon the earliest to occur of the following:

     (a) The Expiration Date of the Option;

     (b) The expiration of three months from the date of termination of the Holder’s employment by
the Company or any of its subsidiaries (other than a termination described in subparagraph (c),
(d), or (e) below); provided, that if the Holder shall die during such three-month period, the time
of termination of the unexercised portion of the Option shall be determined under the provisions of
subparagraph (d) below, subject to subparagraph (a) above;

     (c) The expiration of one year from the date of termination of the employment of the Holder
due to permanent and total disability within the meaning of Section 22(e)(3) of the Internal
Revenue Code of 1986, as amended (other than a termination described in subparagraph (e) below);

     (d) The expiration of one year following the Holder’s death if it occurs while Holder is
employed by the Company or its subsidiaries; or

     (e) The termination of the Holder’s employment by the Company or any of its subsidiaries if
such termination constitutes or is attributable to a breach by the Holder of an employment
agreement with the Company or its subsidiaries, or if the Holder is discharged for cause. The
Committee shall have the right to determine whether the Holder has been discharged for breach or
for cause and the date of such discharge, and such determination of the Committee shall be final
and conclusive.

     7. Reservation of Shares. The Company hereby agrees that at all times there shall be
reserved for issuance and/or delivery upon exercise of the Option such number of Shares as shall be
required for issuance or delivery upon exercise hereof.

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     8. Rights of Holder. Nothing contained herein shall be construed to confer upon the
Holder any right to be continued in the employ of the Company or any of its subsidiaries, or
derogate from the right of the Company or any of its Subsidiaries to retire, request the
resignation of, or discharge the Holder at any time, with or without cause. The Holder shall not,
by virtue hereof, be entitled to any rights of a stockholder in the Company or its subsidiaries,
either at law or equity, and the rights of the Holder are limited to those expressed herein and in
the Plan and are not enforceable against the Company or its subsidiaries, except to the extent set
forth herein.

     9. Exclusion from Pension Computations. By acceptance of the grant of the Option, the
Holder hereby agrees that any income realized upon the receipt or exercise hereof, or upon the
disposition of the Shares received upon its exercise, is special incentive compensation and will
not be taken into account as “wages,” “salary,” or “compensation” in determining the amount of any
payment under any pension, retirement, incentive, profit-sharing, bonus, or deferred compensation
plan of the Company, or its subsidiaries.

     10. Registration; Legend. Without limiting the generality of Section 8 of the Plan,
the Company may postpone the issuance and delivery of Shares upon any exercise of the Option until
(a) the admission of such Shares to listing on any stock exchange or exchanges on which Shares of
the Company of the same classes are then listed and (b) the completion of such registration or
other qualification of such Shares under any state or federal law, rule or regulation as the
Company shall determine to be necessary or advisable. The Holder shall make such representations
and furnish such information as, in the opinion of counsel for the Company, may be appropriate to
permit the Company to issue the Shares in compliance with the provisions of the Securities Act of
1933, as amended, or any comparable act. The Company may cause an appropriate legend to be set
forth on each certificate representing Shares or any other security issued or issuable upon
exercise of the Option unless counsel for the Company is of the opinion as to any such certificate
that a legend is unnecessary.

     11. Amendment. The Committee may, with the consent of the Holder in the case of an
amendment that adversely affects the Holder’s rights under the Option, at any time or from time to
time, amend the terms and conditions of the Option.

     12. Notices. Any notice which either party hereto may be required or permitted to
give to the other shall be in writing, and may be delivered personally or by mail, postage prepaid,
addressed as follows: to the Company, at its office at 400 Technology Square, Cambridge,
Massachusetts 02139, or at such other address as the Company by notice to the Holder may designate
in writing from time to time; to the Holder, at the address shown below his signature on this
Option certificate, or at such other address as the Holder by notice to the Company may designate
in writing from time to time. Notices shall be effective upon receipt.

     13. Incorporation of Plan; Interpretation. The Option and this Option certificate are
issued pursuant to and are subject to all of the terms and conditions of the Plan, the terms,
conditions, and definitions of which are hereby incorporated as though set forth at length, and the
receipt of a copy of which the Holder hereby acknowledges by his signature below. A determination
of the Committee as to any questions which may arise with respect to the interpretation of the
provisions of this Option and of the Plan shall be final. The Committee may authorize and
establish such rules, regulations, and revisions thereof not inconsistent with the provisions of
the Plan, as it may deem advisable.

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     Unless otherwise indicated to the contrary herein, defined terms used in this Option
certificate shall have the same meaning as used in the Plan.

     IN WITNESS WHEREOF, the parties have signed this certificate on the date first above written.

Forrester Research, Inc.

	 	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

	 	 
	 
	 	 	 	 
	ACCEPTED AND AGREED TO:	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	 	 	 
	First Last	 	 
	 
	 	 	 	 
	 	 	 
	Date	 	 
	 
	 	 	 	 
	 	 	 
	Address	 	 
	 
	 	 	 	 
	 	 	 
	City                         State                           Postal Code	 	 
	 
	 	 	 	 
	 	 	 
	Country	 	 

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Exhibit 10.18

FORRESTER RESEARCH, INC.

2006 DIRECTORS STOCK OPTION PLAN

Option Certificate

Stock option granted by Forrester Research, Inc., a Delaware corporation (the “Company”), to
               
              
           , a director of the Company (the “Optionee”), pursuant to the Company’s 2006
Directors Stock Option Plan (the “Plan”).

Grant of Option

This certificate evidences the grant by the Company on                        ___, 200___(“Grant Date”) to the
Optionee of an option to purchase, in whole or in part, on the terms provided herein and in the
Plan, a total of             
         shares of common stock of the Company (the “Shares”) at $___.___ per Share.
The latest date on which this option may be exercised (the “Final Exercise Date”) is                      ___,
20___.

The option evidenced by this certificate is a nonqualified stock option.

This option is exercisable in the following installments prior to the Final Exercise Date:

	 	 	 	             
        Shares on and after the first anniversary of the Grant Date;
	 
	 	 	 	             
        Shares on and after the second anniversary of the Grant Date;
	 
	 	 	 	             
        Shares on and after the third anniversary of the Grant Date;

and

             An additional                      Shares on and after the fourth anniversary of the Grant Date.

Notwithstanding the foregoing, this option shall become exercisable to the extent, if any, provided
in and in accordance with the provisions of Section 7(a) of the Plan (pertaining to “Covered
Transactions”) in the circumstances described in said Section 7(a).

Exercise of Option

Each election to exercise this option shall be in writing, signed by the Optionee or by his/her
executor or administrator or by the person or persons to whom this option is transferred by will or
the applicable laws of descent and distribution (the “Legal Representative”), and received by the
Company at its principal office, accompanied by payment in full and by such additional
documentation evidencing the right to exercise (or, in the case of a Legal Representative, of the
authority of such person) as the Company may require. The purchase price may be paid in cash or by
check (acceptable to the Company in accordance with the guidelines established for this
purpose), bank draft, or money order payable to the order of the Company; or (b) by delivery of

 

 

an
unconditional and irrevocable undertaking by a broker to deliver promptly to the Company sufficient
funds to pay the exercise price.

Restrictions on Transfer

If at the time this option is exercised the Company is a party to any agreement restricting the
transfer of any outstanding shares of its Common Stock, this option may be exercised only if the
Shares so acquired are made subject to the transfer restrictions set forth in that agreement (or if
more than one such agreement is then in effect, the agreement specified by the Committee).

Withholding

No Shares will be transferred pursuant to the exercise of this option unless and until, in the
opinion of the Company’s counsel, the person exercising this option shall have remitted to the
Company an amount sufficient to satisfy any federal, state, or local withholding tax requirements,
or shall have made other arrangements satisfactory to the Company with respect to such taxes.

Death; Status Change

(a) Except as the Committee shall otherwise provide, upon the death of the Optionee, all options
not then exercisable shall terminate. All options held by the director that are exercisable
immediately prior to death may be exercised by his or her Legal Representative, at any time within
one year after the director’s death but in no event beyond the Final Exercise Date. After
completion of that one-year period, such options shall terminate to the extent not previously
exercised or terminated.

(b) Except as the Committee shall otherwise provide, if a director’s service with the Company
terminates for any reason other than death, all options held by the director that are not then
exercisable shall terminate. Options that are exercisable on the date of termination shall
continue to be exercisable for a period of three months but in no event beyond the Final Exercise
Date. After completion of that three-month period, such options shall terminate to the extent not
previously exercised, expired or terminated.

Nontransferability of Option

Except as the Committee shall otherwise provide, this option is not transferable by the Optionee
other than by will or the laws of descent and distribution, and is exercisable during the
Optionee’s lifetime only by the Optionee.

 

 

Provisions of the Plan

This option is subject in its entirety to the provisions of the Plan, a copy of which is furnished
to the Optionee with this option. All initially capitalized terms not otherwise defined herein
shall have the meaning provided in the Plan.

IN WITNESS WHEREOF, the Company has caused this option to be executed under its corporate seal by
its duly authorized officer. This option shall take effect as a sealed instrument.

	 	 	 	 	 
	 	FORRESTER RESEARCH, INC.

 	 
	 	By:  	 	 
	 	 	Gail S. Mann, Esq. 	 
	 	 	Secretary 	 
	 

Dated:                      __, 200_

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