Document:

ex46tos804313_01162009.htm

    Exhibit 4.6

     

    
      NESS
TECHNOLOGIES INC.

      

      RESTRICTED
STOCK UNIT AGREEMENT

      [Date]

      

      
        

        
          	
                  BETWEEN:

                	
                  Ness
      Technologies Inc.,a Delaware corporation

                
	 
      	
                  having
      offices at Kiryat Atidim, Tel Aviv, Israel

                
	 
      	
                  (hereinafter,
      the “Company”)

                
	 
      	 
      
	 
      	 
      	
                  on
      the one part

                
	 
      	 
      	 
      
	
                  AND:

                	
                  [________________]

                	 
      
	 
      	
                  I.D.
      [__________]

                	 
      
	 
      	 
      	 
      
	 
      	
                  of
      [_____________]

                	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
                  (hereinafter
      the “Participant”)

                	 
      
	 
      	 
      	
                  on
      the other part

                

        

         

      

      WHEREAS,
the Company’s stockholders adopted, at its annual meeting on  June 13,
2007, the 2007 Stock Option Plan and, at its annual meeting on June 16, 2008
adopted amendments to such plan, including renaming it the Amended and Restated
2007 Stock Incentive Plan (the “2007 Plan”) attached hereto as Exhibit A and
forming an integral part hereof; and

      

      WHEREAS,
the Company’s Stock Option and Compensation Committee (the “Committee”) has
approved the granting of restricted stock units to the Participant on the date
hereof and subject to all the terms and conditions as set forth in the 2007 Plan
and as provided herein.

      

      NOW,
THEREFORE, it is agreed as follows:

      

      Preamble
and Definitions

       

      The
preamble to this Agreement constitutes an integral part hereof.

       

      Unless
otherwise defined herein, capitalized terms used herein shall have the meaning
ascribed to them in the 2007 Plan.

       

      Grant
of Restricted Stock Units

       

      The
Company hereby grants to the Participant  _________ restricted stock
units (the “RSUs”), each RSU representing the right to receive one share of
common stock, $0.01 par value per share (each, a “Share”) on the date such RSU
vests, subject to the conditions set forth in this Agreement and the 2007 Plan.
Shares granted under the RSUs shall be taken from the total number of Shares
reserved for purposes of the 2007 Plan in the Company’s authorized
capital.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      The
Participant acknowledges that the Company intends to issue additional Shares,
options, RSUs and other instruments convertible into shares in the future to
various entities and individuals, as the Company in its sole discretion shall
determine.

       

      Term
and Vesting Schedule

       

      The term
of this Agreement shall commence on the date hereof (the “Date of Grant”) and
shall terminate upon the earlier of: (i)  ___________ or (ii) any
other time at which the RSUs expire or are forfeited pursuant to the terms of
the 2007 Plan or pursuant to the terms of this Agreement.

       

      Subject
to the provisions of the 2007 Plan, the RSUs shall first vest and Shares
underlying the RSUs will first be issuable to the Participant according
to  the following vesting and subject to any acceleration provision
included in the Plan: _________________________________, provided that the
Participant continuously remains eligible to participate in the 2007 Plan
pursuant to its terms from the Date of Grant and until each vesting date with
respect to the portion of the RSUs due to vest on and following such
date.

       

      Administration

       

      The
Participant acknowledges that the Company has transferred the day to day
administration of its options system, including the RSUs, to an independent
contractor and undertakes to follow the rules and practices of such independent
contractor (currently Tamir Fishman Employees Benefits Ltd.) regarding the
exercise of the  RSUs.  The Participant acknowledges that
the Company may, from time to time and in its sole discretion, transfer the day
to day administration of its options system, including the RSUs, to another
independent contractor or decide to administer its option system
internally.

       

      Issuance
of Shares

       

      In order
for the Company to issue Shares upon the vesting of any of the RSUs, the
Participant hereby agrees to sign any and all documents required by any
applicable law and/or by the Company’s incorporation documents. The Participant
further agrees that in the event that the Company and its counsel deem it
necessary or advisable, in their sole discretion, the issuance of Shares may be
conditioned upon certain representations, warranties, and acknowledgments by the
Participant.

       

      Unless
and until a RSU has vested in accordance with the terms of this Agreement and
the 2007 Plan and the Participant has fulfilled all of his obligations in
connection with such vesting, Participant will have no right to delivery of
Shares underlying the vested RSUs. Prior to the actual delivery of any Shares
with respect to vested RSUs, a RSU will represent an unsecured obligation of the
Company, payable (if at all) only from the general assets of the
Company.

       

      
        
          
          

        

        
          -2-

          
            

          

        

        
          
          

        

      

       

      The
Company shall not be obligated to issue any Shares upon the vesting of a RSU if
such issuance, in the opinion of the Company, might constitute a violation by
the Company of any provision of law.

       

      Each RSU
shall be subject to the further requirement that, if at any time the Board (or
the Committee) shall determine in its sole discretion that the consent or
approval of any governmental regulatory body or the listing, registration or
qualification of the Shares upon any securities exchange or under any Federal or
other applicable law, is necessary or desirable as a condition of, or in
connection with, the granting of such RSU, or the issuance of Shares thereunder,
The Shares underlying such RSU shall not be granted, unless such consent,
approval, listing, registration or qualification shall have been effected or
obtained free of any conditions not acceptable to the Board or the
Committee.

       

      Change
of Control

       

      Upon the
occurrence of a “Change in Control” (as defined in the 2007 Plan), the Committee
may accelerate the vesting and  of outstanding RSUs, in whole or in
part, as determined by the Committee in its sole discretion.  In its
sole discretion, the Committee may also determine that, upon the occurrence of a
Change in Control, each outstanding RSU shall terminate within a specified
number of days after notice to the Participant thereunder, and each such
Participant shall receive, with respect to each Share subject to such RSU, an
amount equal to the Fair Market Value of the Shares subject to the RSUs
immediately prior to such Change in Control; such amount shall be payable in
cash, in one or more kinds of property (including the property, if any, payable
in the transaction) or a combination thereof, as the Committee shall determine
in its sole discretion.

       

      Restrictions on Transfer of
Shares and RSUs

       

      The
transfer of RSUs or Shares to be issued upon vesting of the RSUs shall be
subject to the limitations set forth in the 2007 Plan and in the Company’s
incorporation documents, in any shareholders’ agreement to which the holders of
shares of common stock of the Company are bound or in or in any applicable law
including securities law of any jurisdiction.

       

      The RSUs
granted hereunder and the rights and privileges conferred hereby may not be
transferred, assigned, pledged or hypothecated in any way (whether by operation
of law or otherwise) and may not be subject to sale under execution, attachment
or similar process. Upon any attempt to transfer or otherwise dispose of the
RSUs, or any right or privilege conferred hereby, or upon any attempted sale
under any execution, attachment or similar process, the grant of RSUs and the
rights and privileges conferred hereby will immediately become null and
void.

       

      
        
          
          

        

        
          -3-

          
            

          

        

        
          
          

        

      

       

      With
respect to any RSUs approved by the Israeli Tax Authorities, subject to the
provisions of Section 102 of the Israeli Income Tax Ordinance (New Version),
1961, and any rules or regulation or orders or procedures promulgated
thereunder, a Participant shall not sell or release from trust any Share
received upon the vesting of RSUs and/or any Share received subsequently
following any realization of rights, including without limitation, bonus Shares,
until the lapse of the Holding Period required under Section 102 of the
Ordinance. Notwithstanding the above, if any such sale or release occurs during
the Holding Period, the sanctions under Section 102 of the Ordinance and under
any rules or regulation or orders or procedures promulgated thereunder shall
apply to and shall be borne by such Participant.

       

      With
respect to Unapproved 102 RSU, if the Participant ceases to be employed by the
Company or any Affiliate, the Participant shall extend to the Company and/or its
Affiliate a security or guarantee for the payment of tax due at the time of sale
of Shares, all in accordance with the provisions of Section 102 and the rules,
regulation or orders promulgated thereunder.

       

      The
Participant acknowledges that in the event additional Shares shall be registered
for trading in any public market, the Participant’s right to sell Shares may be
subject to limitations (including a lock-up period), as will be requested by the
Company or its underwriters, and the Participant unconditionally agrees and
accepts any such limitations.

       

      The
Participant acknowledges that in order to enforce the above restriction, the
Company may impose stop-transfer instructions with respect to the Shares issued
to the Participant hereunder.

       

      The
Participant shall not dispose of any Shares in transactions which violate, in
the opinion of the Company, any applicable laws, rules and regulations or any
lock-up imposed by the Company.

       

      The
Participant agrees that the Company shall have the authority to imprint upon the
certificate or certificates representing the Shares such legends referring to
the foregoing restrictions, and any other applicable restrictions as it may deem
appropriate (which do not violate the Participant's rights according to this
Agreement).

       

      With
respect to any person subject to the reporting requirements of Section 16(a) of
the Securities Exchange Act of 1934, as amended (a “Reporting Person” and the
“Exchange Act”, respectively), transactions under the 2007 Plan are intended to
comply with all applicable conditions of Rule 16b-3 under the Exchange
Act.  To the extent any provision of the 2007 Plan or any action by an
authority under the 2007 Plan fails to so comply, such provision or action
shall, without further action by any person, be deemed to be automatically
amended to the extent necessary to effect compliance with Rule 16b-3, provided
that if such provision or action cannot be amended to effect such compliance,
such provision or action shall be deemed null and void, to the extent permitted
by law and deemed advisable by the appropriate authority.  Each RSU
granted and each Share issued to a Reporting Person under the 2007 Plan shall be
deemed issued subject to the foregoing qualification.

       

      
        
          
          

        

        
          -4-

          
            

          

        

        
          
          

        

      

       

      Taxes;
Indemnification

       

      The
receipt of the RSUs and the acquisition or receipt of the Shares to be issued
upon the vesting of the RSUs may result in tax consequences. THE PARTICIPANT IS
ADVISED TO CONSULT A TAX ADVISER WITH RESPECT TO THE TAX CONSEQUENCES OF
RECEIVING OR EXERCISING THE OPTIONS, RECEIVEING THE RSUS AND THE SHARES
UNDERLYNG THE RSUs OR DISPOSING OF THE SHARES.

       

      Any tax
consequences arising from the grant of RSUs, or vesting of the RSUs, from the
payment for such Shares or from any other event or act (of the Company and/or
its Affiliates, the Trustee or the Participant), hereunder, shall be borne
solely by the Participant. The Company and/or its Affiliates and/or the Trustee
shall withhold taxes according to the requirements under the applicable laws,
rules, and regulations, including withholding taxes at source. Furthermore, the
Participant hereby agrees to indemnify the Company and/or its Affiliates and/or
the Trustee and hold them harmless against and from any and all liability for
any such tax or interest or penalty thereon, including without limitation,
liabilities relating to the necessity to withhold, or to have withheld, any such
tax from any payment made to the Participant.

       

      The
Participant will not be entitled to receive from the Company and/or the Trustee
any Shares issued upon the vesting of RSUs prior to the full payments of the
Participant’s tax or other liabilities arising from RSUs which were granted to
him and/or from the Shares issued upon the vesting of RSUs.

       

      With
respect to Approved 102 RSUs, the Participant hereby acknowledges that he is
familiar with the provisions of Section 102 and the regulations and rules
promulgated thereunder, including without limitations the tax implications
applicable the grant of the RSUs. The Participant accepts the provisions of the
trust agreement, attached as Exhibit B hereto, and agrees to be bound by its
terms.

       

      Miscellaneous

       

      No Obligation to Exercise to
Accept the Shares. The grant and acceptance of these RSUs imposes no
obligation on the Participant to accept Shares issued following vesting of
RSUs.

       

      Rights as
Stockholder.  Neither Participant nor any person claiming under
or through Participant will have any of the rights or privileges of a
stockholder of the Company in respect of any Shares deliverable hereunder unless
and until certificates representing such Shares have been issued and recorded on
the records of the Company or its transfer agents or registrars.

       

      
        
          
          

        

        
          -5-

          
            

          

        

        
          
          

        

      

       

      Confidentiality.  The
Participant shall regard the information in this Agreement and its exhibits
attached hereto as confidential information and the Participant shall not reveal
its contents to anyone except when required by law or for the purpose of gaining
legal or tax advice.

       

      Continuation of Employment
or Service.  Neither the 2007 Plan nor this Agreement shall
impose any obligation on the Company or an Affiliate to continue the
Participant’s employment or service and nothing in the 2007 Plan or in this
Agreement shall confer upon the Participant any right to continue in the employ
or service of the Company and/or an Affiliate or restrict the right of the
Company or an Affiliate to terminate such employment or service at any
time.

       

      Entire Agreement.
Subject to the provisions of the 2007 Plan, which have been incorporated herein
by reference, this Agreement, together with the exhibits hereto, constitute the
entire agreement between the Participant and the Company with respect to RSUs
granted hereunder, and supersedes all prior agreements, understandings and
arrangements, oral or written, between the Participant and the Company with
respect to the subject matter hereof.

       

      Failure to Enforce - Not a
Waiver. The failure of any party to enforce at any time any provisions of
this Agreement or the 2007 Plan shall in no way be construed to be a waiver of
such provision or of any other provision hereof.

       

      Provisions of the 2007
Plan. The  RSUs granted herein are granted pursuant to the 2007
Plan and said RSUs and this Agreement, are in all respects governed by the 2007
Plan and subject to all of the terms and provisions of the 2007
Plan.

       

      Any
interpretation of this Agreement will be made in accordance with the 2007 Plan
but in the event there is any contradiction between the provisions of this
Agreement and the 2007 Plan, the provisions of the Agreement will
prevail.

       

      Modifications.  Modifications
to this Agreement can be made only in an express written agreement executed by a
duly authorized officer of the Company or the Committee.

       

      Arbitration.  Notwithstanding
anything to the contrary contained in the 2007 Plan, any dispute in relation
with the 2007 Plan and this Agreement and the exercise or rights thereunder,
shall be decided by arbitration by the legal counsel to the Company or any
person nominated by such legal counsel (the “Arbitrator”), who shall decide such
dispute in accordance with the provisions of the Arbitration Law, 1968 and its
supplement. The decision of the Arbitrator shall be final and shall bind the
Company and the Participant. The Participant will exempt the Arbitrator from any
liability in respect of any action or decision made in connection with the
arbitration.

       

      Binding Effect. The
2007 Plan and this Agreement shall be binding upon the heirs, executors,
administrators and successors of the parties hereof.

       

      
        
          
          

        

        
          -6-

          
            

          

        

        
          
          

        

      

       

      Notices. All notices
or other communications given or made hereunder shall be in writing and shall be
delivered or mailed by registered mail or delivered by email or facsimile with
written confirmation of receipt to the Participant and/or to the Company at the
addresses shown on the letterhead above, or at such other place as the Company
may designate by written notice to the Participant. The Participant is
responsible for notifying the Company in writing of any change in the
Participant’s address, and the Company shall be deemed to have complied with any
obligation to provide the Participant with notice by sending such notice to the
address indicated above.

       

      
        Company’s
Signature:

        

        

        
          	
                  By:

                	 
      	 
      	
                  By:

                	 
      
	
                  Name:
      Ilan Rotem

                	 
      	
                  Name:
      Hadas Halbreich

                
	
                  Title:
      Chief Legal Officer& Secretary

                	 
      	
                  Title:
      Compensation and Benefits Manager

                

        

         

      

      

      Participant’s
Acknowledgement and Acceptance

      

      I, the
undersigned, hereby acknowledge receipt of a copy of the 2007 Plan and accept
the RSUs subject to all of the terms and provisions thereof. I have reviewed the
2007 Plan and this Agreement in its entirety, have had the opportunity to obtain
the advice of counsel prior to executing this Agreement, and fully understand
all provisions of this Agreement. I hereby agree to accept as binding,
conclusive and final all decisions or interpretations of the Committee regarding
any questions relating to the 2007 Plan and the Agreement. I agree to notify the
Company upon any change in the residence address indicated above.

      

      
        

        

        
          	 
      	 
      	 
      	 
      
	
                  Date

                	 
      	
                  Participant’s
      Signature

                	 
      

        

        
 

        
          
            
            

          

          
            -7-

            
              

            

          

          
            
            

          

        

      

       

      Exhibit
A

      

      Ness
Technologies Inc. Amended and Restated 2007 Stock Incentive Plan

       

      
        
          
          

        

        
          -8-

          
            

          

        

        
          
          

        

      

       

      Exhibit
B

      

      Trust
Agreement

       

      
        
          
          

        

        
          -9-ex47tos804313_01162009.htm

    Exhibit 4.7

     

    
      NESS
TECHNOLOGIES, INC.

      Ness
Tower, Atidim Building 4 P.O. Box 58152 Tel Aviv 61580 ISRAEL

       

      [Date]

      
         

        
          
            
              
                
                  
                    	
                            Name:

                          	 
      
	 
      	 
      
	
                            Address:

                          	 
      
	 	 
	 
      	 
      
	 
      	 
      
	
                            SAP
      I.D. No.

                          	 
      

                  

                

              

            

          

        

        
 

      

      We are
pleased to inform you that effective on the date first written above, the Stock
Option and Compensation Committee (the “Committee”) of Board of Directors of
Ness Technologies, Inc. (the “Company”) granted you an award of restricted stock
units (“Restricted Stock Units”), pursuant to the Company’s Amended and Restated
2007 Incentive Plan (the “Plan”) as set forth in this letter (this
“Letter”).  Unless otherwise defined herein, capitalized terms used in
this Letter shall have the same meanings as set forth in the Plan.

       

      You have
been granted an award of ______________ Restricted Stock Units pursuant to the
Plan, each Restricted Stock Unit representing the right to receive one share of
Common Stock, par value $.01 (the “Share”) on the date it vests, subject to the
terms and conditions of the Plan and this Letter.

       

      I.
Restricted Stock Units

       

      The
Restricted Stock Units shall be subject to the terms and conditions set forth in
the Plan and Exhibit
B attached hereto. Subject to any acceleration provisions contained in
the Plan, the Restricted Stock Units shall vest as follows:
_____________________________.

       

      In the
event you cease to be eligible to participate in the Plan pursuant to Section
9.2.5 of the Plan, for any or no reason, before the Restricted Stock Units vest,
the Restricted Stock Units and your right to acquire any Shares hereunder will
immediately terminate.

       

      Any tax
consequences arising from the grant or vesting  of the Restricted
Stock Units , its possible acceleration or redemption, and/or from the payment
for Shares covered thereby, shall be borne solely by you.

       

      II.
General Provisions

       

      Administration.
Vesting of the Restricted Stock Units shall be monitored through the Company’s
option management system.  The issuance of Shares following the
vesting of Restricted Stock Units will be subject to the rules and practices
applicable to such management system.

       

      Form
S-8.  You acknowledge that a registration statement on Form S-8
under the Securities Act of 1933, as amended (the “Act”), effective on August
13, 2007, is in effect as of this date as to the Shares issuable upon the
vesting of Restricted Stock Units.  However, you acknowledge that
there may be other applicable legal and contractual restrictions that may apply
to a resale of the Shares and that the Company is under no obligation to you to
inform you of such restrictions or to assist you in revealing, modifying or
canceling such restrictions.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      Address for
Notices.  You agree to notify the Company upon any change in
the residence address indicated above.  Any notice to be given to the
Company under the terms of this Letter will be addressed to the Company, in care
of its Chief Legal Officer, at Ness Technologies, Inc., Ness Tower, Atidim
High-Tech Industrial Park, Building 4, Tel Aviv 61580, Israel, or at such other
address as the Company may hereafter designate in writing.

       

      Grant is Not
Transferable.  In accordance with the Plan, this grant and the
rights and privileges conferred hereby may not be transferred, assigned, pledged
or hypothecated in any way (whether by operation of law or otherwise) and may
not be subject to sale under execution, attachment or similar
process.  Upon any attempt to transfer, assign, pledge, hypothecate or
otherwise dispose of this grant, or any right or privilege conferred hereby, or
upon any attempted sale under any execution, attachment or similar process, this
grant and the rights and privileges conferred hereby immediately will become
null and void.

       

      Binding
Letter.  Subject to the limitation on the transferability of
this grant contained herein, this Letter will be binding upon and inure to the
benefit of the heirs, legatees, legal representatives, successors and assigns of
the parties hereto.

       

      Additional Conditions to
Issuance of Stock.  If at any time the Company will determine,
in its discretion, that the listing, registration or qualification of the Shares
upon any securities exchange or under any state or federal law, or the consent
or approval of any governmental regulatory authority is necessary or desirable
as a condition to the issuance of Shares to Participant, such issuance will not
occur unless and until such listing, registration, qualification, consent or
approval will have been effected or obtained free of any conditions not
acceptable to the Company. Where the Company determines that the delivery of any
Shares will violate federal securities laws or other applicable laws, the
Company will defer delivery until the earliest date at which the Company
reasonably anticipates that the delivery of Shares will no longer cause such
violation.  The Company will make all reasonable efforts to meet the
requirements of any such state or federal law or securities exchange and to
obtain any such consent or approval of any such governmental
authority.

       

      Letter’s Relationship to the
Plan.  Subject to Sections 2 and 9.2 of the Plan, in the event
of a conflict between the terms and conditions of the Plan and the terms and
conditions of this Letter, the terms and conditions of this Letter will
prevail.

       

      Committee
Authority.  The Committee has the power to interpret the Plan
and this Letter and to adopt such rules for the administration, interpretation
and application of the Plan as are consistent therewith and to interpret or
revoke any such rules (including, but not limited to, the determination of
whether or not any Restricted Stock Units have vested).  You agree
that all actions taken and all interpretations and determinations made by the
Committee in good faith regarding the Plan and this Letter will be final,
conclusive and binding upon Participant, the Company and all other interested
persons.  No member of the Committee will be personally liable for any
action, determination or interpretation made in good faith with respect to the
Plan or this Letter.

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

       

      Electronic
Delivery.  The Company may, in its sole discretion, decide to
deliver any documents related to Restricted Stock Units awarded under the Plan
or future Restricted Stock Units that may be awarded under the Plan, including
the Restricted Stock Units and evidence of ownership of the Shares to be issued
upon the vesting of the Restricted Stock Units, by electronic means or request
Participant’s consent to participate in the Plan by electronic
means.  Participant hereby consents to receive such items by
electronic delivery and agrees to participate in the Plan through any on-line or
electronic system established and maintained by the Company or another third
party designated by the Company.

       

      Captions.  Captions
provided herein are for convenience only and are not to serve as a basis for
interpretation or construction of this Letter.

       

      Letter
Severable.  In the event that any provision in this Letter will
be held invalid or unenforceable, such provision will be severable from, and
such invalidity or unenforceability will not be construed to have any effect on,
the remaining provisions of this Letter.

       

      Modifications to this
Letter.  This Letter, which incorporates by reference the Plan,
constitutes the entire understanding of the parties on the subjects
covered.  Participant expressly warrants that he or she is not
accepting this Letter in reliance on any promises, representations, or
inducements other than those contained or specifically addressed
herein.  Modifications to this Letter or the Plan can be made only in
an express written contract executed by a duly authorized officer of the Company
or the Committee.  Notwithstanding anything to the contrary in the
Plan or this Letter, the Company reserves the right to revise this Letter as it
deems necessary or advisable, in its sole discretion and without the consent of
Participant, to comply with Section 409A of the USA Internal Revenue Code of
1986, as amended (the “Code”), or to otherwise avoid imposition
of any additional tax or income recognition under Section 409A of the Code in
connection to this award of Restricted Stock Units.

       

      Amendment, Suspension or
Termination of the Plan.  By accepting this Award, Participant
expressly warrants that he or she has received an Award of Restricted Stock
Units under the Plan, and has received, read and understood the
Plan.  Participant understands that the Plan is discretionary in
nature and may be amended, suspended or terminated by the Company at any
time.

       

      Governing
Law.  This Letter will be governed by the laws of the State of
Israel applicable to contracts made and to be performed therein, without giving
effect to the conflict of law principles thereof except to the extent that such
conflict laws require application of the laws of Delaware.  For
purposes of litigating any dispute that arises under this award of Restricted
Stock Units or this Letter, the parties hereby submit to and consent to the
jurisdiction of the competent courts of Tel-Aviv, Israel, and agree that such
litigation will be conducted in the courts of Tel-Aviv, and no other courts,
where this award of Restricted Stock Units is made and/or to be
performed.

       

      [Signature
page follows]

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

       

      By your
signature and the signature of the Company’s representative below, you and the
Company agree that the Restricted Stock Units are granted under and governed by
the Plan, this Letter and Exhibit B attached
hereto.

       

      
         

        

        
          
            
              	
                      Very
      truly yours,

                    	 
      	 
      
	 
      	 
      	 
      
	
                      NESS
      TECHNOLOGIES, INC.

                    	 
      	
                      AGREED
      TO AND ACCEPTED

                    
	 
      	 
      	 
      
	
                      By:

                    	 
      	 
      	 
      
	 
      	
                      Name:

                    	
                      Ilan
      Rotem

                    	 
      	
                      Signature

                    
	 	
                      Title:

                    	
                      Chief
      Legal Officer & Secretary

                    	 	 
	 
      	
                       

                    	
                       

                    	 
      	 
      
	 
      	 
      	 
      	 
      	
                      Print
      Name

                    
	 
      	 
      	 
      
	
                      By:

                    	 
      	 
      	 
      
	 
      	
                      Name:

                    	
                      Hadas
      Halbreich

                    	 
      	 
      
	 
      	
                      Title:

                    	
                      Global
      Compensation and Benefits Manager

                    	 
      	 
      

            

          

        

        

        
          
            
            

          

          
            4

            
              

            

          

          
            
            

          

        

      

       

      Exhibit
A

      

      Ness
Technologies, Inc. Amended and Restated 2007 Incentive Plan

       

      [see
attached]

       

      
        
          
          

        

        
          A-1

          
            

          

        

        
          
          

        

      

       

      

      Exhibit
B

      

      Terms
and Conditions of Restricted Stock Units

       

      Unless otherwise defined herein,
capitalized terms used in this Exhibit shall have the same meanings as set forth
in the Plan.

       

      1.        Grant.  The
Company hereby grants to the participant named in this Letter (the
“Participant”), under the Plan, an award of Restricted Stock Units, subject to
all of the terms and conditions of this Letter and the Plan, which is
incorporated herein by reference.

       

      2.        Company’s Obligation to
Pay.  Each Restricted Stock Unit represents the right to
receive one Share on the date such Restricted Stock Unit vests, subject to
Participant’s furnishing the Company with, or otherwise making provision for,
sufficient funds to satisfy the Company’s tax withholding
obligations.  Unless and until a Restricted Stock Unit has vested
Participant will have no right to delivery of such Shares.  Prior to
the actual delivery of any Shares with respect to vested Restricted Stock Units,
a Restricted Stock Unit will represent an unsecured obligation of the Company,
payable (if at all) only from the general assets of the Company.

       

      3.        Vesting
Schedule.  Except as provided in Section 3 of the Plan, and
subject to Section 9.2.4 thereof, the Restricted Stock Units awarded by this
Letter will vest in accordance with the vesting provisions set forth in this
Letter.  Restricted Stock Units scheduled to vest on a certain date or
upon the occurrence of a certain condition will not vest in Participant in
accordance with any of the provisions of this Letter unless Participant will
have been continuously eligible to participate in the Plan pursuant to Section
9.2.5 of the Plan (an “Eligible Person”) from the Grant Date until the date such
vesting occurs.

       

      4.        Committee
Discretion.  The Committee, in its discretion, may accelerate
the vesting of the balance, or some lesser portion of the balance, of
Participant’s unvested Restricted Stock Units at any time, subject to the terms
of the Plan and in accordance with any other written agreement between
Participant and the Company.  If so accelerated, such Restricted Stock
Units will be considered as having vested as of the date specified by the
Committee, the Plan or an applicable written agreement between Participant and
the Company.

       

      5.        Forfeiture upon Termination
of Status as an Eligible Person.  Notwithstanding any contrary
provision of this Letter, but subject to the Plan and any other written
agreement between Participant and the Company, once Participant loses his status
as an Eligible Person, for any or no reason, the balance of the Restricted Stock
Units that have not vested at that time and Participant’s right to acquire any
Shares hereunder will immediately terminate.

       

      6.        Withholding of
Taxes.  Notwithstanding any contrary provision of this Letter
or the Plan, Shares will not be delivered under the Restricted Stock Unit grant
to Participant until Participant furnishes the Company with, or otherwise makes
provision for, sufficient funds to satisfy the Company’s tax withholding
obligations.  If Participant fails to make satisfactory arrangements
for the payment of any required tax withholding obligations hereunder within the
time frame set forth by the Committee, Participant will permanently forfeit such
Restricted Stock Units and any right to receive Shares thereunder. The Company
may, but is not obligated to, sell on behalf of Participant the amount of Shares
required to cover any withholding obligation and to issue the remaining Shares
to Participant.

       

      
        
          
          

        

        
          B-1

          
            

          

        

        
          
          

        

      

       

      7.        Rights as
Stockholder.  Neither Participant nor any person claiming under
or through Participant will have any of the rights or privileges of a
stockholder of the Company in respect of any Shares deliverable hereunder unless
and until certificates representing such Shares have been issued, if
certificated, and such issuance is recorded on the records of the Company or its
transfer agents or registrars.  After such issuance, recordation and
delivery, Participant will have all the rights of a stockholder of the Company
with respect to voting such Shares and receipt of dividends and distributions on
such Shares.

       

      8.        No Guarantee of Continued
Service.  PARTICIPANT ACKNOWLEDGES AND AGREES THAT THE VESTING
OF THE RESTRICTED STOCK UNITS PURSUANT TO THE VESTING SCHEDULE HEREOF IS EARNED
ONLY BY CONTINUING TO BE DEEMED AN ELIGIBLE PERSON AT THE WILL OF THE COMPANY
(OR THE SUBSIDIARY EMPLOYING OR OTHERWISE RETAINING PARTICIPANT) AND NOT THROUGH
THE ACT OF BEING HIRED, BEING GRANTED THIS AWARD OF RESTRICTED STOCK UNITS OR
ACQUIRING SHARES HEREUNDER.  PARTICIPANT FURTHER ACKNOWLEDGES AND
AGREES THAT THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE
VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED
PROMISE OF CONTINUED ENGAGEMENT BY THE COMPANY FOR THE VESTING PERIOD, FOR ANY
PERIOD, OR AT ALL, AND WILL NOT INTERFERE IN ANY WAY WITH PARTICIPANT’S RIGHT OR
THE RIGHT OF THE COMPANY (OR THE SUBSIDIARY EMPLOYING OR OTHERWISE RETAINING
PARTICIPANT) TO TERMINATE PARTICIPANT’S RELATIONSHIP WITH THE COMPANY AT ANY
TIME, WITH OR WITHOUT CAUSE.

       

       

      
        
          
          

        

        
          B-2

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