Document:

Exhibit 10.13

 

Restricted Stock
Agreement

under the Open Link Financial, Inc.

2006 Stock Option and Grant Plan

 

	
  Name of Grantee:

  	
   

  	
  (the “Grantee”)

  
	
   

  	
   

  	
   

  
	
  No. of Shares:

  	
   

  	
  Shares of

  	
   

  	
  Stock

  
	
   

  	
   

  	
   

  
	
  Grant Date:

  	
   

  	
  (the “Grant Date”)

  
	
   

  	
   

  	
   

  
	
  Per Share Purchase Price:

  	
  $.001 (the “Per Share Purchase Price”)

  
					

 

 

Pursuant to the Open Link
Financial, Inc. 2006 Stock Option and Grant Plan (the “Plan”), Open Link
Financial, Inc., a Delaware corporation (together with its successors, the
“Company”), hereby grants, sells and issues to the individual named above, who
is an officer, employee or other key person (including consultants and
prospective employees) of the Company or any of its Subsidiaries, the Shares
(as defined below) at the Per Share Purchase Price, subject to the terms and
conditions set forth herein and in the Plan. The Grantee agrees to the
provisions set forth herein and acknowledges that each such provision is a
material condition of the Company’s agreement to issue and sell the Shares to
him or her. The Company hereby acknowledges receipt of $               
in full payment for the Shares. All references to share prices and amounts
herein shall be equitably adjusted to reflect stock splits, stock dividends,
recapitalizations, mergers, reorganizations and similar changes affecting the
capital stock of the Company, and any shares of capital stock of the Company
received on or in respect of Shares in connection with any such event
(including any shares of capital stock or any right, option or warrant to
receive the same or any security convertible into or exchangeable for any such
shares or received upon conversion of any such shares) shall be subject to this
Agreement on the same basis and extent at the relevant time as the Shares in
respect of which they were issued, and shall be deemed Shares as if and to the
same extent they were issued at the date hereof.

 

1.                                       Definitions. For the purposes of this
Agreement, the following terms shall have the following respective meanings.
All capitalized terms used herein and not otherwise defined shall have the
respective meanings set forth in the Plan.

 

An “Affiliate”
of any Person means a Person that directly or indirectly, through one or more
intermediaries, controls, is controlled by or is under common control with the
first mentioned Person. A Person shall be deemed to control another Person if
such first Person possesses directly or indirectly the power to direct, or
cause the direction of, the management and policies of the second Person,
whether through the ownership of voting securities, by contract or otherwise.

 

“Bankruptcy” shall mean (i) the filing of
a voluntary petition under any bankruptcy or insolvency law, or a petition for
the appointment of a receiver or the making of an assignment for the benefit of
creditors, with respect to the Grantee or any Permitted Transferee,

1

 

as the case
may be, or (ii) the Grantee or any Permitted Transferee, as the case may
be, being subjected involuntarily to such a petition or assignment or to an
attachment or other legal or equitable interest with respect to the Grantee’s
or the Permitted Transferee’s assets, which involuntary petition or assignment
or attachment is not discharged within 60 days after its date, and (iii) the
Grantee or any Permitted Transferee, as the case may be, being subject to a
transfer of Shares by operation of law, except by reason of death.

 

“Cause” means a dismissal as a result of (i) the commission
of any act by the Grantee constituting financial dishonesty against the Company
or its Subsidiaries (which act would be chargeable as a crime under applicable
law); (ii) the Grantee’s engaging in any other act of dishonesty, fraud,
intentional misrepresentation, moral turpitude, illegality or harassment which,
as determined in good faith by the Board, would: (A) materially adversely
affect the business or the reputation of the Company or any of its Subsidiaries
with their respective current or prospective customers, suppliers, lenders
and/or other third parties with whom such entity does or might do business; or (B) expose
the Company or any of its Subsidiaries to a risk of civil or criminal legal
damages, liabilities or penalties; (iii) the repeated willful failure by
the Grantee to follow the directives of the chief executive officer of the
Company or any of its Subsidiaries, the Board, or the board of directors of any
of the Company’s Subsidiaries or (iv) any material misconduct, material
violation of the Company’s written policies, or willful and deliberate
nonperformance of duty by the Grantee in connection with the business affairs
of the Company or its Subsidiaries.

 

“Good Reason” means the occurrence of
any of the following events: (i) a substantial adverse change in the
nature or scope of the Grantee’s responsibilities, authorities, powers,
functions or duties; (ii) a reduction in the Grantee’s annual base salary
except for across-the-board salary reductions similarly affecting all or
substantially all management employees or (iii) the relocation of the
offices at which the Grantee is principally employed to a location more than 50
miles from such offices.

 

“Initial Public Offering” shall mean the consummation of the
first fully underwritten, firm commitment public offering pursuant to an
effective registration statement under the Act, other than on Forms S-4 or S-8
or their then equivalents, covering the offer and sale by the Company of its
equity securities, or such other event as a result of or following which the
Company’s common stock shall be publicly held.

 

“Permitted Transferees” shall mean any of the following to whom
the Grantee may transfer Shares hereunder: the Grantee’s spouse, children
(natural or adopted), stepchildren or a trust for their sole benefit of which
the Grantee is the settlor; provided, however, that any such
trust does not require or permit distribution of any Shares during the term of
this Agreement unless subject to its terms. Upon the death of the Grantee (or a
Permitted Transferee to whom shares have been transferred hereunder), the term
Permitted Transferees shall also include such deceased Grantee’s (or such
deceased Permitted Transferee’s) estate, executions, administrations, personal
representations, heirs, legatees and distributees, as the case may be.

 

“Person” shall mean any individual, corporation, partnership
(limited or general), limited liability company, limited liability partnership,
association, trust, joint venture, unincorporated organization or any similar
entity.

 

2

 

“Restricted Shares” shall initially mean all of the Shares being
purchased by the Grantee on the date hereof, provided, that on each of
the dates listed below, the respective number of Shares indicated below shall
become Vested Shares.

 

	
   

  	
   

  	
  Percentage of Shares

  	
   

  
	
  Vesting Date

  	
   

  	
  Becoming Vested

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  [          , 2007]

  	
   

  	
  20%

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  At the end of each quarterly period commencing [          ,
  2007]

  	
   

  	
  5%

  	
   

  

 

Notwithstanding the foregoing, Restricted Shares shall also become
Vested Shares in accordance with Section 3(d) and (e).

 

“Sale Event” shall mean, regardless of form thereof the
consummation, in any one transaction or series of related transactions, of (i) the
dissolution or liquidation of the Company, (ii) the sale of all or
substantially all of the assets of the Company on a consolidated basis to an
unrelated person or entity, (iii) a merger, reorganization or
consolidation involving the Company as a result of which the holders of the
Company’s outstanding voting power immediately prior to such transaction do not
own a majority of the outstanding voting power of the successor entity
immediately upon completion of such transaction, (iv) the sale of all or a
majority of the outstanding capital stock of the Company to an unrelated person
or entity or (v) any other transaction in which the owners of the Company’s
outstanding voting power immediately prior to such transaction do not own at
least a majority of the outstanding voting power of the successor entity
immediately upon completion of the transaction; provided, however, that the
consummation of a public offering of securities of the Company or its
Subsidiaries shall in no event be deemed a Sale Event.

 

“Service Relationship” shall mean any relationship as an
employee, part-time employee, director, consultant or other key person of the
Company or any Subsidiary such that, for example, a Service Relationship shall
be deemed to continue without interruption in the event the Grantee status
changes from full-time employee to part-time employee or consultant.

 

“Shares” shall mean the shares of Stock (as defined below) being
purchased by the Grantee on the date hereof pursuant to this Agreement and any
additional shares of Stock or other securities received in respect of the
Shares, as a dividend on, or otherwise on account of, the Shares.

 

“Stock” shall mean the Company’s Stock, par value $.001 per
share, together with any shares into which Stock may be converted or exchanged,
as provided above and herein

 

“Termination Event” shall mean the termination of the Grantee’s
Service Relationship with the Company and its subsidiaries for any reason
whatsoever, regardless of the circumstances thereof, and including without
limitation upon death, disability, retirement or discharge or resignation for
any reason, whether voluntary or involuntary. For purposes hereof, the
Committee’s determination of the reason for termination of the Grantee’s
Service Relationship shall be conclusive and binding on the Grantee and the
Grantee’s representatives or

 

3

 

legatees.

 

“Vested
Shares” shall mean all Shares which are not Restricted Shares.

 

2.                                       Purchase and Sale of Shares; Investment Representations.

 

(a)                                       Purchase and Sale. On the date hereof, the
Company hereby sells to the Grantee, and the Grantee hereby purchases from the
Company, the number of Shares set forth above for the Per Share Purchase Price.

 

(b)                                    Investment Representations. In
connection with the purchase and sale of the Shares contemplated by Section 2(a) above,
the Grantee hereby represents and warrants to the Company as follows:

 

(i)                                     The Grantee is purchasing the Shares for the
Grantee’s own account for investment only, and not for resale or with a view to
the distribution thereof.

 

(ii)                                  The Grantee has had such an opportunity as he
or she has deemed adequate to obtain from the Company such information as is
necessary to permit him or her to evaluate the merits and risks of the Grantee’s
investment in the Company and has consulted with the Grantee’s own advisers
with respect to the Grantee’s investment in the Company.

 

(iii)                               The Grantee has sufficient experience in
business, financial and investment matters to be able to evaluate the risks
involved in the purchase of the Shares and to make an informed investment
decision with respect to such purchase.

 

(iv)                              The Grantee can afford a complete loss of the
value of the Shares and is able to bear the economic risk of holding such
Shares for an indefinite period.

 

(v)                                 The Grantee understands that the Shares are
not registered under the Act or any applicable state securities or “blue sky”
laws and may not be sold or otherwise transferred or disposed of in the absence
of an effective registration statement under the Act and under any applicable
state securities or “blue sky” laws (or exemptions from the registration
requirements thereof). The Grantee further acknowledges that certificates
representing the Shares will bear restrictive legends reflecting the foregoing.

 

4

 

3.                                       Repurchase Right.

 

(a)                                       Repurchase. Upon the occurrence of a
Termination Event or the Bankruptcy of the Grantee, the Company or its assigns
shall have the right and option to repurchase all or any portion of the Shares
held by the Grantee or any Permitted Transferee as of the date of such
Termination Event or Bankruptcy. In addition, upon the Bankruptcy of any of the
Grantee’s Permitted Transferees, the Company or its assigns shall have the
right and option (together with the right and option contemplated by the
preceding sentence of this Section 3(a), the “Repurchase Right”) to
repurchase all or any portion of the Shares held by such Permitted Transferee
as of the date of such Bankruptcy. The purchase and sale arrangements
contemplated by the preceding sentences of this Section 3(a).

 

(b)                                      Repurchase Price.
The per share purchase price of the Shares subject to the Repurchase (the “Repurchase
Price”) shall be, subject to adjustment as provided above (i) in the case
of Shares which are Vested Shares as of the date of the event giving rise to the
Repurchase, the Fair Market Value of such Vested Shares as of the date the
Committee elects to exercise its Repurchase Right and (ii) in the case of
Restricted Shares outstanding as of such date, the Per Share Purchase Price.

 

(c)                                       Closing Procedure.
The Company or its assigns shall effect the Repurchase (if so elected) by
delivering or mailing to the Grantee (and/or, if applicable, any Permitted
Transferees) written notice within six (6) months after the Termination
Event or Bankruptcy, specifying a date within such six-month period in which
the Repurchase shall be effected. Upon such notification, the Grantee and any
Permitted Transferees shall promptly surrender to the Company any certificates
representing the Shares being purchased, together with a duly executed stock
power for the transfer of such Shares to the Company or the Company’s assignee
or assignees. Upon the Company’s or its assignee’s receipt of the certificates
from the Grantee or any Permitted Transferees (or at such later date as is
determined necessary by the Committee to avoid breach by the Company of any
agreement to which it is a party), the Company or its assignee or assignees
shall deliver to him, her or them a check for the Repurchase Price of the
Shares being purchased, provided, however, that the Company may pay the
Repurchase Price for such shares by offsetting and canceling any indebtedness
then owed by the Grantee to the Company. At such time, the Grantee and/or any
holder of the Shares shall deliver to the Company the certificate or
certificates representing the Shares so repurchased, duly endorsed for
transfer, free and clear of any liens or encumbrances. The Repurchase Right
specified herein shall survive and remain in effect as to Restricted Shares
following and notwithstanding any public offering by or merger or other
transaction involving the Company and certificates representing such Restricted
Shares shall bear legends to such effect, subject to Section 10(b) below.

 

(d)                                      Sale
of the Company. Upon and subject to the occurrence of a Sale Event, the
vesting of each tranche of Shares listed above in Section 1 under the
definition of Restricted Shares shall accelerate by one year. Subject to the
foregoing,:

 

(i)                                     if the Sale Event involves an exchange of stock of
the Company solely for stock of the acquiror, whether by merger, consolidation
or otherwise, regardless of the form thereof (or if the Stock remains
outstanding after such Sale Event), all stock received in exchange for
Restricted Shares in such exchange by the Grantee or any

 

5

 

Permitted
Transferee (or any Restricted Shares remaining outstanding, as applicable)
shall be (or remain, as applicable) outstanding subject to the provisions of
this Agreement; provided  however, in the event of a Termination
Event after such Sale Event which is by the Company without Cause or by the
Grantee for Good Reason, the Restricted Shares then held by the Grantee or any
Permitted Transferees shall thereupon be deemed fully vested.

 

(ii)                                  if the Sale Event involves a sale of the Company’s
stock or assets solely for consideration other than stock of the acquiror, and
the Grantee agrees in writing to the restrictions set forth in the following
sentence, all Restricted Shares held by the Grantee or any Permitted Transferee
shall be deemed fully vested as of the consummation of the Sale Event. The
proceeds resulting from such Sale Event attributable to the Restricted Shares
vested under the preceding sentence (the “Acceleration Proceeds”) shall
be paid or delivered to the Grantee as follows: (A) if there shall not
occur a Termination Event prior to the next date on which all or any portion of
the Restricted Shares would have vested pursuant to the terms of this Agreement
without regard to the provisions of this Section 3(d)(ii) (such date
and each such date thereafter, a “Vesting Date”), that portion of the
Acceleration Proceeds that is attributable to Restricted Shares that would have
vested on such Vesting Date shall be paid or delivered to the Grantee on such
Vesting Date, (B) if there shall occur a Termination Event after such Sale
Event which is by the Company without Cause or by the Grantee for Good Reason,
any remaining portion of the Acceleration Proceeds shall be paid or delivered
to the Grantee within ten (10) days of such Termination Event and (C) if
there shall occur a Termination Event by the Company for Cause, by the Grantee
without Good Reason or by reason of death or disability (as defined in Section 422(c) of
the Code), no additional Acceleration Proceeds shall paid or delivered the
Grantee after the date of such Termination Event. If the Grantee does not agree
in writing to the restrictions in the preceding sentence, the Sale Event shall
have the same effect as a Termination Event with respect to the Restricted
Shares then held by the Grantee.

 

(iii)                               if the Sale Event involves partly (A) cash or
consideration other than stock and (B) stock consideration, the provisions
of subparagraphs (i) and (ii) above shall be applied on a pro rata
basis in proportion to the consideration offered in the Sale Event.

 

The Company shall have the right, exercisable in its discretion in
connection with any Sale Event or otherwise, to accelerate vesting.

 

(e)                                       Death
or Disability. If a Termination Event occurs prior to a Sale Event by
reason of the Grantee’s death or disability (as defined in Section 422(c) of
the Code), the vesting of each tranche of Shares listed above in Section 1
under the definition of Restricted Shares shall accelerate by one year.

 

4.                                       Restrictions on Transfer of Shares. None of the Shares now owned or hereafter acquired
shall be sold, assigned, transferred, pledged, hypothecated, given away or in
any other manner disposed of or encumbered, whether voluntarily or by operation
of law, unless such transfer is in compliance with all applicable securities
laws (including, without limitation, the Act), and such disposition is in
accordance with the terms and conditions of this Section 4. In connection
with any transfer of Shares, the Company may require the transferor to provide
at the Grantee’s own expense an opinion of counsel to the transferor,
satisfactory to the Company, that such transfer is in compliance with all
foreign, federal and state securities laws (including, without limitation, the Act).
Any attempted disposition of Shares not in accordance with the

 

6

 

terms and
conditions of this Section 4 shall be null and void, and the Company shall
not reflect on its records any change in record ownership of any Shares as a
result of any such disposition, shall otherwise refuse to recognize any such
disposition and shall not in any way give effect to any such disposition of any
Shares. Subject to the foregoing general provisions, Shares may be transferred
pursuant to the following specific terms and conditions:

 

(a)                                       Transfers to Permitted Transferees. The Grantee (but not any transferee thereof) may
sell, assign, transfer or give away any or all of the Shares to Permitted
Transferees; provided, however, that such Permitted Transferee(s) shall,
as a condition to any such transfer, agree to be subject to the provisions of
this Agreement (including, without limitation, the provisions of Sections 3, 4,
5 and 10(a)) and shall have delivered a written acknowledgment to that effect
to the Company.

 

(b)                                      Transfers Upon Death. Upon the death of the Grantee, all Shares shall
remain subject to Sections 3, 4, 5 and 10(a), as applicable, and the Grantee’s
estate, executors, administrators, personal representatives, heirs, legatees
and distributees shall be obligated to convey such Shares to the Company or its
assigns under the terms contemplated hereby.

 

(c)                                       Other Transfers; Notice; Right of First Refusal. In the event that the Grantee (or any Permitted
Transferee holding Shares subject to this Section 4(c)) desires to sell or
otherwise transfer all or any part of the Vested Shares (but in no event
Restricted Shares, which shall not be sold or transferred except as
contemplated by Sections 3(a), 4(a) or 4(b)), the Grantee (or Permitted
Transferee) first shall give written notice to the Company of the Grantee’s (or
Permitted Transferee’s) intention to make such transfer. Such notice shall
state the number of Vested Shares which the Grantee (or Permitted Transferee)
proposes to sell (the “Offered Shares”), the price and the terms at which the
proposed sale is to be made and the name and address of the proposed
transferee. At any time within 30 days after the receipt of such notice by the
Company, the Company or its assigns may elect to purchase all or any portion of
the Offered Shares at the price and on the terms offered by the proposed
transferee and specified in the notice. The Company or its assigns shall
exercise this right by mailing or delivering written notice to the Grantee (or
Permitted Transferee) within the foregoing 30-day period. If the Company or its
assigns elect to exercise its purchase rights under this Section 4(c), the
closing for such purchase shall, in any event, take place within 45 days after
the receipt by the Company of the initial notice from the Grantee (or Permitted
Transferee). In the event that the Company or its assigns do not elect to
exercise such purchase right, or in the event that the Company or its assigns
do not pay the full purchase price within such 45-day period, the Grantee (or
Permitted Transferee) may, within 60 days thereafter, sell the Offered Shares
to the proposed transferee and at the same price and on the same terms as
specified in the Grantee’s (or Permitted Transferee’s) notice. Any Shares
purchased by such proposed transferee shall be deemed held by a Permitted
Transferee and accordingly shall remain subject to the terms of this Agreement,
including without limitation, the provisions of Section 3, 4, 5 and 10(a) to
the same extent as if the Grantee continued to hold them. Any shares not sold
to the proposed transferee shall remain subject to this Agreement shall no
longer be subject to the terms of this Agreement. Any Shares not sold to the
proposed transferee shall remain subject to this Agreement. Notwithstanding the
foregoing, the restrictions on Vested Shares under this Section 4(c) shall
terminate in accordance with

 

7

 

Section 10(b).

 

5.                                       Drag Along Right. In the event the holders of a majority of the Company’s equity
securities then outstanding (the “Majority Shareholders”) determine to sell or
otherwise dispose of all or substantially all of the assets of the Company or
all or fifty percent (50%) or more of the capital stock of the Company in each
case in a transaction constituting a change in control of the Company, to any
non-Affiliate(s) of the Company or any of the Majority Shareholders, or to
cause the Company to merge with or into or consolidate with any non-Affiliate(s) of
the Company or any of the Majority Shareholders (in each case, the “Buyer”) in
a bona fide negotiated transaction (a “Sale”), the Grantee, including any of
his or her successors as contemplated herein, shall be obligated to and shall
upon the written request of a Majority Shareholders: (a) sell, transfer
and deliver, or cause to be sold, transferred and delivered, to the Buyer, his
or her Shares on substantially the same terms applicable to the Majority
Shareholders (with appropriate adjustments to reflect the conversion of
convertible securities, the redemption of redeemable securities and the
exercise of exercisable securities as well as the relative preferences and
priorities of preferred stock); and (b) execute and deliver such
instruments of conveyance and transfer and take such other action, including
voting such Shares in favor of any Sale proposed by the Majority Shareholders
and executing any purchase agreements, merger agreements, indemnity agreements,
escrow agreements or related documents, as the Majority Shareholders or the
Buyer may reasonably require in order to carry out the terms and provisions of
this Section 5.

 

6.                                       Legend.
Any certificate(s) representing the Shares shall carry substantially the
following legend:

 

“The transferability of this
certificate and the shares of stock represented hereby are subject to the
restrictions, terms and conditions (including repurchase and restrictions
against transfers) contained in a certain Restricted Stock Agreement dated                  
,                  
between the Open Link Financial, Inc. (the “Company”) and the holder of
this certificate (a copy of which is available at the offices of the Company
for examination).”

 

“The shares represented by this certificate
have not been registered under the Securities Act of 1933 or the securities
laws of any state. The shares may not be sold or transferred in the absence of
such registration or an exemption from registration.”

 

7.                                       Escrow Arrangement.

 

(a)                                  Escrow. In order to carry out the provisions of Sections 3,
4 and 5 of this Agreement more effectively, the Company shall hold the Shares
in escrow together with separate stock powers executed by the Grantee in blank
for transfer, and any Permitted Transferee shall, as an additional condition to
any transfer of Shares, execute a like stock power as to such Shares. The
Company shall not dispose of the Shares except as otherwise provided in this
Agreement. In the event of any repurchase by the Company (or any of its
assigns), the Company is hereby authorized by the Grantee and any

 

8

 

Permitted Transferee, as the
Grantee’s and each such Permitted Transferee’s attorney-in-fact, to date and
complete the stock powers necessary for the transfer of the Shares being
purchased and to transfer such Shares in accordance with the terms hereof. At
such time as any Shares are no longer subject to the Company’s Repurchase Right
and right of first refusal, the Company shall, at the written request of the
Grantee, deliver to the Grantee (or the relevant Permitted Transferee) a
certificate representing such Shares with the balance of the Shares (if any) to
be held in escrow pursuant to this Section 7.

 

(b)                                 Remedy.
Without
limitation of any other provision of this Agreement or other rights, in the
event that the Grantee, any Permitted Transferees or any other person or entity
is required to sell the Grantee’s Shares pursuant to the provisions of Section
3, 4 and 5 of this Agreement and in the further event that he or she refuses or
for any reason fails to deliver to the designated purchaser of such Shares the
certificate or certificates evidencing such Shares together with a related
stock power, such designated purchaser may deposit the applicable purchase
price for such Shares with a bank designated by the Company, or with the
Company’s independent public accounting firm, as agent or trustee, or in
escrow, for the Grantee, any Permitted Transferees or other person or entity,
to be held by such bank or accounting firm for the benefit of and for delivery
to him, her, them or it, and/or, in its discretion, pay such purchase price by
offsetting any indebtedness then owed by the Grantee as provided above. Upon
any such deposit and/or offset by the designated purchaser of such amount and
upon notice to the person or entity who was required to sell the Shares to be
sold pursuant to the provisions of Section 3, 4 and 5, such Shares shall at
such time be deemed to have been sold, assigned, transferred and conveyed to
such purchaser, the holder thereof shall have no further rights thereto (other
than the right to withdraw the payment thereof held in escrow, if applicable),
and the Company shall record such transfer in its stock transfer book or in any
appropriate manner.

 

8.                                       Withholding Taxes. The Grantee acknowledges
and agrees that the Company or any of its Subsidiaries have the right to deduct
from payments of any kind otherwise due to the Grantee, or from the Shares held
pursuant to Section 7 hereof, the minimum federal, state or local taxes of
any kind required by law to be withheld with respect to the purchase of the
Shares by the Grantee. In furtherance of the foregoing the Grantee agrees to elect, in
accordance with Section 83(b) of the Internal Revenue Code of 1986,
as amended, to recognize ordinary income in the year of acquisition of the
Shares, and to pay to the Company all withholding taxes shown as due on his or
her Section 83(b) election form, or otherwise ultimately determined
to be due with respect to such election, based on the excess, if any, of the
Fair Market Value of such Shares as of the date of the purchase of such Shares
by the Grantee over the purchase price for such Shares. The Grantee
acknowledges that the Company has advised the Grantee to obtain tax advice from
his own personal tax advisor on the tax consequences of the purchase of the
Shares. The Grantee agrees that the filing of a Section 83(b) election
is the Grantee’s responsibility.

 

9.                                       Assignment. At the discretion of the
Board, the Company shall have the right to assign the right to exercise its Repurchase
Right or right of first refusal to any Person or Persons, in whole or in part
in any particular instance, upon the same terms and conditions applicable to
the exercise thereof by the Company, and such assignee or assignees of the
Company shall then

 

9

 

take and
hold any Shares so acquired subject to such terms as may be specified by the
Company in connection with any such assignment.

 

10.                                 Miscellaneous Provisions.

 

(a)                                  Lockup provision. The Grantee and each Permitted Transferee shall
agree, if requested by the Company and any underwriter engaged by the Company,
not to sell or otherwise transfer or dispose of any securities of the Company
(including, without limitation, pursuant to Rule 144 under the Act) held
by him or her for (a) one hundred eighty (180) days following the
effective date of the relevant registration statement filed under the Act in
connection with the Company’s Initial Public Offering, or (b) ninety (90)
days following the effective date of the relevant registration statement in
connection with any other public offering of Stock, as the Company and such
underwriter shall specify reasonably and in good faith. Notwithstanding the
foregoing, if: (x) during the last 17 days of the foregoing 180-day period
or 90-day period, as applicable, the Company issues an earnings release or
material news or a material event relating to the Company occurs; or (y) prior
to the expiration of the 180-day period or 90-day period, as applicable, the
Company announces that it will release earnings results during the 16-day
period beginning on the last day of the period, then the restrictions described
above shall continue to apply until the expiration of an 18-day period beginning
on the issuance of the earnings release or the occurrence of the material news
or material event. The Grantee agrees, if requested by the underwriter engaged
by the Company, to execute a separate letter reflecting the agreement set forth
in this Section 10(a).

 

(b)                                 Termination. The Company’s Repurchase
Right as to Vested Shares under Section 3, the restrictions on transfer of
Vested Shares under Section 4(c) and the Grantee’s Drag Along
obligations under Section 5 shall terminate upon the closing of the
Company’s Initial Public Offering or upon consummation of any Sale Event as a
result of which shares of the Company (or successor entity) of the same class
as the Shares are registered under Section 12 of the Exchange Act of 1934
and publicly traded on NASDAQ/NMS or any national security exchange; provided,
however, that all other provisions shall remain in effect following the same
until all of the Shares have become Vested Shares.

 

(c)                                  Record Owner; Dividends.
The Grantee and any Permitted Transferees, during the duration of this
Agreement, shall be considered the record owners of and shall be entitled to
vote the Shares if and to the extent the Shares are entitled to voting rights.
The Grantee and any Permitted Transferees shall be entitled to receive all
dividends and any other distributions declared on the Shares; provided,
however, that the Company is under no duty to declare any such dividends or to
make any such distribution.

 

(d)                                 Equitable Relief.
The parties hereto agree and declare that legal remedies are inadequate to
enforce the provisions of this Agreement and that equitable relief, including
specific performance and injunctive relief, may be used to enforce the
provisions of this Agreement.

 

(e)                                  Change and Modifications.
This Agreement may not be orally changed, modified or terminated, nor shall any
oral waiver of any of its terms be effective.

 

10

 

This Agreement may be changed, modified or terminated only by an
agreement in writing signed by the Company and the Grantee.

 

(f)                                    Governing Law. This Agreement shall
be governed by and construed in accordance with the laws of Delaware without
regard to conflict of law principles.

 

(g)                                 Headings. The headings are intended only for convenience in finding the subject
matter and do not constitute part of the text of this Agreement and shall not
be considered in the interpretation of this Agreement.

 

(h)                                 Saving Clause. If any provision(s) of this Agreement shall be determined to be
illegal or unenforceable, such determination shall in no manner affect the
legality or enforceability of any other provision hereof.

 

(i)                                     Notices.
All notices, requests, consents and other communications shall be in writing
and be deemed given when delivered personally, by telex or facsimile
transmission or when received if mailed by first class registered or certified
mail, postage prepaid. Notices to the Company or the Grantee shall be addressed
as set forth underneath their signatures below, or to such other address or
addresses as may have been furnished by such party in writing to the other.
Notices to any holder of the Shares other than the Grantee shall be addressed
to the address furnished by such holder to the Company.

 

(j)                                     Benefit and Binding Effect. This Agreement shall be binding upon and shall
inure to the benefit of the parties hereto, their respective successors,
assigns, and legal representatives. Without limitation of the foregoing, upon
any stock-for-stock merger in which the Company is not the surviving entity,
shares of the Company’s successor issued in respect of the Shares shall remain
subject to vesting and, if such successor is a private company, subject to the
Repurchase Right in Section 3, the right of first refusal under Section 4(c),
the drag-along under Section 5 and the lockup provision under Section 10(a).
The Company has the right to assign this Agreement, and such assignee shall
become entitled to all the rights of the Company hereunder to the extent of
such assignment.

 

(k)                                  Dispute Resolution. Except as provided below, any dispute arising out
of or relating to this Agreement or the breach, termination or validity hereof
shall be finally settled by binding arbitration conducted expeditiously in
accordance with the J.A.M.S./Endispute Comprehensive Arbitration Rules and
Procedures (the “J.A.M.S. Rules”). The arbitration shall be governed by the
United States Arbitration Act, 9 U.S.C. §§1-16, and judgment upon the award
rendered by the arbitrators may be entered by any court having jurisdiction
thereof. The place of arbitration shall be New York, New York.

 

The parties covenant and agree that the
arbitration shall commence within 60 days of the date on which a written demand
for arbitration is filed by any party hereto. In connection with the
arbitration proceeding, the arbitrator shall have the power to order the
production of documents by each party and any third-party witnesses. In
addition, each party may take up to three depositions as of right, and the
arbitrator may in his or her discretion allow additional depositions upon good
cause shown by the moving

 

11

 

party. However, the arbitrator shall not have the power to order the
answering of interrogatories or the response to requests for admission. In
connection with any arbitration, each party shall provide to the other, no
later than seven (7) business days before the date of the arbitration, the
identity of all persons that may testify at the arbitration and a copy of all
documents that may be introduced at the arbitration or considered or used by a
party’s witness or expert. The arbitrator’s decision and award shall be made
and delivered within six (6) months of the selection of the arbitrator.
The arbitrator’s decision shall set forth a reasoned basis for any award of
damages or finding of liability. The arbitrator shall not have power to award
damages in excess of actual compensatory damages and shall not multiply actual
damages or award punitive damages or any other damages that are specifically
excluded under this Agreement, and each party hereby irrevocably waives any
claim to such damages.

 

The parties covenant and agree that they will
participate in the arbitration in good faith. This Section 10(k) applies
equally to requests for temporary, preliminary or permanent injunctive relief,
except that in the case of temporary or preliminary injunctive relief any party
may proceed in court without prior arbitration for the limited purpose of
avoiding immediate and irreparable harm.

 

Each of the parties hereto (i) hereby irrevocably submits to the
jurisdiction of any United States District Court of competent jurisdiction for
the purpose of enforcing the award or decision in any such proceeding, (ii) hereby
waives, and agrees not to assert, by way of motion, as a defense, or otherwise,
in any such suit, action or proceeding, any claim that it is not subject
personally to the jurisdiction of the above-named courts, that its property is
exempt or immune from attachment or execution (except as protected by applicable
law), that the suit, action or proceeding is brought in an inconvenient forum,
that the venue of the suit, action or proceeding is improper or that this Agreement
or the subject matter hereof may not be enforced in or by such court, and
hereby waives and agrees not to seek any review by any court of any other
jurisdiction which may be called upon to grant an enforcement of the judgment
of any such court. Each of the parties hereto hereby consents to service of
process by registered mail at the address to which notices are to be given.
Each of the parties hereto agrees that its, his or her submission to
jurisdiction and its, his or her consent to service of process by mail is made
for the express benefit of the other parties hereto. Final judgment against any
party hereto in any such action, suit or proceeding may be enforced in other
jurisdictions by suit, action or proceeding on the judgment, or in any other
manner provided by or pursuant to the laws of such other jurisdiction.

 

(l)                                     Counterparts. For the convenience of the parties and to facilitate execution, this
Agreement may be executed in two or more counterparts, each of which shall be
deemed an original, but all of which shall constitute one and the same
document.

 

[SIGNATURE PAGE FOLLOWS]

 

12

 

IN
WITNESS WHEREOF, the Company and the Grantee have executed this Restricted
Stock Agreement as of the date first above written.

 

	
   

  	
   

  	
  COMPANY

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  OPEN LINK FINANCIAL, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  GRANTEE:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Address:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SPOUSE’S CONSENT

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  I acknowledge that I have
  read the

  	
   

  	
   

  
	
  foregoing Restricted Stock
  Agreement

  	
   

  	
   

  
	
  and understand the
  contents thereof.Exhibit 10.14

 

Restricted Stock Agreement

For Non-Employee Directors

under the Open Link Financial, Inc.

2006 Stock Option and Grant Plan

 

	
  Name of Grantee:

  	
                                              

  	
  (the “Grantee”)                    

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  No. of Shares:

  	
             

  	
  Shares of

  	
            

  	
  Stock

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Grant Date:

  	
                                             

  	
  (the “Grant Date”)

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Per Share Purchase Price:

  	
  $.001 (the “Per Share Purchase Price”)

  

 

Pursuant to the Open Link Financial, Inc.
2006 Stock Option and Grant Plan (the “Plan”), Open Link Financial, Inc.,
a Delaware corporation (together with its successors, the “Company”),
hereby grants, sells and issues to the individual named above, who is a
director of the Company a (“Director”), the Shares (as defined below) at
the Per Share Purchase Price, subject to the terms and conditions set forth
herein and in the Plan. The Grantee agrees to the provisions set forth herein
and acknowledges that each such provision is a material condition of the Company’s
agreement to issue and sell the Shares to him or her. The Company hereby
acknowledges receipt of $              in
full payment for the Shares. All references to share prices and amounts herein
shall be equitably adjusted to reflect stock splits, stock dividends,
recapitalizations, mergers, reorganizations and similar changes affecting the
capital stock of the Company, and any shares of capital stock of the Company
received on or in respect of Shares in connection with any such event
(including any shares of capital stock or any right, option or warrant to
receive the same or any security convertible into or exchangeable for any such
shares or received upon conversion of any such shares) shall be subject to this
Agreement on the same basis and extent at the relevant time as the Shares in
respect of which they were issued, and shall be deemed Shares as if and to the
same extent they were issued at the date hereof.

 

1.                   Definitions.
For the purposes of this Agreement, the following terms shall have the following
respective meanings. All capitalized terms used herein and not otherwise
defined shall have the respective meanings set forth in the Plan.

 

An “Affiliate” of any Person means a
Person that directly or indirectly, through one or more intermediaries, controls,
is controlled by or is under common control with the first mentioned Person. A
Person shall be deemed to control another Person if such first Person possesses
directly or indirectly the power to direct, or cause the direction of, the
management and policies of the second Person, whether through the ownership of
voting securities, by contract or otherwise.

 

“Bankruptcy” shall mean (i) the
filing of a voluntary petition under any bankruptcy or insolvency law, or a
petition for the appointment of a receiver or the making of an assignment for
the benefit of creditors, with respect to the Grantee or any Permitted
Transferee,

 

1

 

as the case may be, or (ii) the Grantee or any Permitted
Transferee, as the case may be, being subjected involuntarily to such a
petition or assignment or to an attachment or other legal or equitable interest
with respect to the Grantee’s or the Permitted Transferee’s assets, which
involuntary petition or assignment or attachment is not discharged within 60
days after its date, and (iii) the Grantee or any Permitted Transferee, as
the case may be, being subject to a transfer of Shares by operation of law,
except by reason of death.

 

“Initial Public Offering” shall mean the consummation of the
first fully underwritten, firm commitment public offering pursuant to an
effective registration statement under the Act, other than on Forms S-4 or S-8
or their then equivalents, covering the offer and sale by the Company of its
equity securities, or such other event as a result of or following which the
Company’s common stock shall be publicly held.

 

“Permitted Transferees” shall mean any of the following to whom
the Grantee may transfer Shares hereunder: the Grantee’s spouse, children
(natural or adopted), stepchildren or a trust for their sole benefit of which
the Grantee is the settlor; provided, however, that any such
trust does not require or permit distribution of any Shares during the term of
this Agreement unless subject to its terms. Upon the death of the Grantee (or a
Permitted Transferee to whom shares have been transferred hereunder), the term
Permitted Transferees shall also include such deceased Grantee’s (or such
deceased Permitted Transferee’s) estate, executions, administrations, personal
representations, heirs, legatees and distributees, as the case may be.

 

“Person” shall mean any individual,
corporation, partnership (limited or general), limited liability company,
limited liability partnership, association, trust, joint venture, unincorporated
organization or any similar entity.

 

“Restricted Shares” shall initially
mean all of the Shares being purchased by the Grantee on the date hereof, provided,
that on each of the dates listed below, the respective number of Shares
indicated below shall become Vested Shares.

 

	
  Vesting Date

  	
   

  	
  Percentage
  of Shares 

  Becoming Vested

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  [

  	
                          

  	
  , 2007]

  	
  20

  	
  %

  
	
   

  	
   

  	
   

  	
   

  
	
  At the end of each quarterly period commencing [                        ,
  2007]

  	
  5

  	
  %

  
						

 

Notwithstanding the foregoing, Restricted
Shares shall also become Vested Shares in accordance with Section 3(c) and
(d). In addition, the Company shall have the right, exercisable in its
discretion, to accelerate vesting.

 

“Sale Event” shall mean, regardless of form thereof the
consummation, in any one transaction or series of related transactions, of (i) the
dissolution or liquidation of the Company, (ii) the sale of all or
substantially all of the assets of the Company on a consolidated basis to an
unrelated person or entity, (iii) a merger, reorganization or
consolidation involving the Company as a result of which the holders of the
Company’s outstanding voting power immediately prior to such transaction do not
own a majority of the outstanding voting power of the successor entity

 

2

 

immediately upon completion of such
transaction, (iv) the sale of all or a majority of the outstanding capital
stock of the Company to an unrelated person or entity or (v) any other
transaction in which the owners of the Company’s outstanding voting power
immediately prior to such transaction do not own at least a majority of the
outstanding voting power of the successor entity immediately upon completion of
the transaction; provided, however, that the consummation of a public offering
of securities of the Company or its Subsidiaries shall in no event be deemed a
Sale Event.

 

“Shares” shall mean
the shares of Stock (as defined below) being purchased by the Grantee on the
date hereof pursuant to this Agreement and any additional shares of Stock or
other securities received in respect of the Shares, as a dividend on, or
otherwise on account of, the Shares.

 

“Stock” shall mean
the Company’s Stock, par value $.001 per share, together with any shares into
which Stock may be converted or exchanged, as provided above and herein

 

“Termination Event”
shall mean the termination of the Grantee’s service as a Director with the
Company whether by reason of retirement, discharge or any other reason,
voluntarily or involuntarily, regardless of the circumstances thereof.

 

“Vested Shares” shall
mean all Shares which are not Restricted Shares.

 

2.              Purchase and Sale of Shares; Investment
Representations.

 

(a)           Purchase and Sale. On the date
hereof, the Company hereby sells to the Grantee, and the Grantee hereby
purchases from the Company, the number of Shares set forth above for the Per
Share Purchase Price.

 

(b)            Investment
Representations. In connection with the purchase and sale of the Shares
contemplated by Section 2(a) above, the Grantee hereby represents and
warrants to the Company as follows:

 

(i)             The
Grantee is purchasing the Shares for the Grantee’s own account for investment
only, and not for resale or with a view to the distribution thereof.

 

(ii)            The Grantee has had such an opportunity as he
or she has deemed adequate to obtain from the Company such information as is
necessary to permit him or her to evaluate the merits and risks of the
Grantee’s investment in the Company and has consulted with the Grantee’s own
advisers with respect to the Grantee’s investment in the Company.

 

(iii)           The Grantee has sufficient experience in
business, financial and investment matters to be able to evaluate the risks
involved in the purchase of the Shares and to make an informed investment decision
with respect to such purchase.

 

(iv)           The Grantee can afford a complete loss of the
value of the Shares and is able to bear the economic risk of holding such
Shares for an indefinite period.

 

(v)           The Grantee
understands that the Shares are not registered 

 

3

 

under the Act or any applicable state
securities or “blue sky” laws and may not be sold or otherwise transferred or
disposed of in the absence of an effective registration statement under the Act
and under any applicable state securities or “blue sky” laws (or exemptions
from the registration requirements thereof). The Grantee further acknowledges
that certificates representing the Shares will bear restrictive legends
reflecting the foregoing.

 

3.                                               Repurchase
Right.

 

(a)    Repurchase.
Upon the occurrence of a Termination Event or the Bankruptcy of the Grantee,
the Company or its assigns shall have the right and option to repurchase all or
any portion of the Restricted Shares held by the Grantee or any Permitted
Transferee as of the date of such Termination Event or Bankruptcy at the Per
Share Purchase Price. In addition, upon the Bankruptcy of any of the Grantee’s
Permitted Transferees, the Company or its assigns shall have the right and
option (together with the right and option contemplated by the preceding
sentence of this Section 3(a), the “Repurchase Right”) to
repurchase all or any portion of the Restricted Shares held by such Permitted
Transferee as of the date of such Bankruptcy at the Per Share Purchase Price.
The purchase and sale arrangements contemplated by the preceding sentences of
this Section 3(a) are referred to herein as the “Repurchase”.

 

(b)    Closing
Procedure. The Company or its assigns shall effect the Repurchase (if so
elected) by delivering or mailing to the Grantee (and/or, if applicable, any
Permitted Transferees) written notice within six (6) months after the
Termination Event or Bankruptcy, specifying a date within such six-month period
in which the Repurchase shall be effected. Upon such notification, the Grantee
and any Permitted Transferees shall promptly surrender to the Company any
certificates representing the Restricted Shares being purchased, together with
a duly executed stock power for the transfer of such Restricted Shares to the
Company or the Company’s assignee or assignees. Upon the Company’s or its
assignee’s receipt of the certificates from the Grantee or any Permitted
Transferees (or at such later date as is determined necessary by the Committee
to avoid breach by the Company of any agreement to which it is a party), the
Company or its assignee or assignees shall deliver to him, her or them a check
for the Repurchase price of the Restricted Shares being purchased, provided,
however, that the Company may pay the Repurchase price for such Restricted
Shares by offsetting and canceling any indebtedness then owed by the Grantee to
the Company. At such time, the Grantee and/or any holder of the Restricted
Shares shall deliver to the Company the certificate or certificates representing
the Restricted Shares so repurchased, duly endorsed for transfer, free and
clear of any liens or encumbrances. The Repurchase Right specified herein shall
survive and remain in effect as to Restricted Shares following and
notwithstanding any public offering by or merger or other transaction involving
the Company and certificates representing such Restricted Shares shall bear
legends to such effect, subject to Section 10(b) below.

 

(c)    Sale
of the Company. Upon and subject to the occurrence of a Sale Event, the
Restricted Shares then held by the Grantee or any Permitted Transferees shall
thereupon be deemed fully vested.

 

The Company shall have the right, exercisable in its discretion to
accelerate vesting.

 

4

 

(d)             Death or Disability. If a
Termination Event occurs prior to a Sale Event by reason of the Grantee’s death
or disability (as defined in Section 422(c) of the Code), the
Restricted Shares then held by the Grantee or any Permitted Transferees shall
thereupon be deemed fully vested.

 

4.                                               Restrictions
on Transfer of Shares. None of the Shares now owned or hereafter acquired
shall be sold, assigned, transferred, pledged, hypothecated, given away or in
any other manner disposed of or encumbered, whether voluntarily or by operation
of law, unless such transfer is in compliance with all applicable securities
laws (including, without limitation, the Act), and such disposition is in
accordance with the terms and conditions of this Section 4. In connection with
any transfer of Shares, the Company may require the transferor to provide at
the Grantee’s own expense an opinion of counsel to the transferor, satisfactory
to the Company, that such transfer is in compliance with all foreign, federal
and state securities laws (including, without limitation, the Act). Any
attempted disposition of Shares not in accordance with the terms and conditions
of this Section 4 shall be null and void, and the Company shall not
reflect on its records any change in record ownership of any Shares as a result
of any such disposition, shall otherwise refuse to recognize any such
disposition and shall not in any way give effect to any such disposition of any
Shares. Subject to the foregoing general provisions, Shares may be transferred
pursuant to the following specific terms and conditions:

 

(a)             Transfers to Permitted
Transferees. The Grantee (but not any transferee thereof) may sell, assign,
transfer or give away any or all of the Shares to Permitted Transferees;
provided, however, that such Permitted Transferee(s) shall, as a condition
to any such transfer, agree to be subject to the provisions of this Agreement
(including, without limitation, the provisions of Sections 3, 4, 5, 7 and
10(a)) and shall have delivered a written acknowledgment to that effect to the
Company.

 

(b)             Transfers Upon Death. Upon
the death of the Grantee, all Shares shall remain subject to Sections 3, 4, 5,
7 and 10(a), as applicable, and the Grantee’s estate, executors,
administrators, personal representatives, heirs, legatees and distributees
shall be obligated to convey such Shares to the Company or its assigns under
the terms contemplated hereby.

 

(c)             Other
Transfers: Notice: Right of First Refusal. In the event that the Grantee
(or any Permitted Transferee holding Shares subject to this Section 4(c))
desires to sell or otherwise transfer all or any part of the Vested Shares (but
in no event Restricted Shares, which shall not be sold or transferred except as
contemplated by Sections 3(a), 4(a) or 4(b)), the Grantee (or Permitted
Transferee) first shall give written notice to the Company of the Grantee’s (or
Permitted Transferee’s) intention to make such transfer. Such notice shall
state the number of Vested Shares which the Grantee (or Permitted Transferee)
proposes to sell (the “Offered Shares”), the price and the terms at which the
proposed sale is to be made and the name and address of the proposed
transferee. At any time within 30 days after the receipt of such notice by the
Company, the Company or its assigns may elect to purchase all or any portion of
the Offered Shares at the price and on the terms offered by the proposed
transferee and specified in the notice. The Company or its assigns shall
exercise this right by mailing or delivering written notice to the Grantee (or
Permitted Transferee) within the foregoing 30-day period. If the

 

5

 

Company or its assigns elect to exercise its purchase rights under this
Section 4(c), the closing for such purchase shall, in any event, take
place within 45 days after the receipt by the Company of the initial notice
from the Grantee (or Permitted Transferee). In the event that the Company or
its assigns do not elect to exercise such purchase right, or in the event that
the Company or its assigns do not pay the full purchase price within such
45-day period, the Grantee (or Permitted Transferee) may, within 60 days
thereafter, sell the Offered Shares to the proposed transferee and at the same
price and on the same terms as specified in the Grantee’s (or Permitted
Transferee’s) notice. Any Shares purchased by such proposed transferee shall be
deemed held by a Permitted Transferee and accordingly shall remain subject to
the terms of this Agreement, including without limitation, the provisions of Section 3,
4, 5, 7 and 10(a) to the same extent as if the Grantee continued to hold
them. Any shares not sold to the proposed transferee shall remain subject to
this Agreement shall no longer be subject to the terms of this Agreement. Any
Shares not sold to the proposed transferee shall remain subject to this
Agreement. Notwithstanding the foregoing, the restrictions on Vested Shares
under this Section 4(c) shall terminate in accordance with Section 10(b).

 

5.             Drag
Along Right. In the event the holders of a majority of the Company’s equity
securities then outstanding (the “Majority Shareholders”) determine to sell or
otherwise dispose of all or substantially all of the assets of the Company or
all or fifty percent (50%) or more of the capital stock of the Company in each
case in a transaction constituting a change in control of the Company, to any
non-Affiliate(s) of the Company or any of the Majority Shareholders, or to
cause the Company to merge with or into or consolidate with any non-Affiliate(s) of
the Company or any of the Majority Shareholders (in each case, the “Buyer”) in
a bona fide negotiated transaction (a “Sale”), the Grantee, including any of
his or her successors as contemplated herein, shall be obligated to and shall
upon the written request of a Majority Shareholders: (a) sell, transfer
and deliver, or cause to be sold, transferred and delivered, to the Buyer, his
or her Shares on substantially the same terms applicable to the Majority
Shareholders (with appropriate adjustments to reflect the conversion of
convertible securities, the redemption of redeemable securities and the
exercise of exercisable securities as well as the relative preferences and
priorities of preferred stock); and (b) execute and deliver such
instruments of conveyance and transfer and take such other action, including
voting such Shares in favor of any Sale proposed by the Majority Shareholders
and executing any purchase agreements, merger agreements, indemnity agreements,
escrow agreements or related documents, as the Majority Shareholders or the
Buyer may reasonably require in order to carry out the terms and provisions of
this Section 5.

 

6.             Legend.
Any certificate(s) representing the Shares shall carry substantially the
following legend:

 

“The transferability of this certificate and
the shares of stock represented hereby are subject to the restrictions, terms
and conditions (including repurchase and restrictions against transfers)
contained in a certain Restricted Stock Agreement dated                            ,              
between the Open Link Financial, Inc. (the “Company”) and the holder of
this certificate (a copy of which is available at the offices of the Company
for examination).”

 

6

 

“The shares represented by this certificate have not
been registered under the Securities Act of 1933 or the securities laws of any
state. The shares may not be sold or transferred in the absence of such
registration or an exemption from registration.”

 

7.                                       Escrow
Arrangement.

 

(a)                               Escrow. In order to carry out the provisions of
Sections 3, 4 and 5 of this Agreement more effectively, the Company shall hold
the Shares in escrow together with separate stock powers executed by the
Grantee in blank for transfer, and any Permitted Transferee shall, as an
additional condition to any transfer of Shares, execute a like stock power as
to such Shares. The Company shall not dispose of the Shares except as otherwise
provided in this Agreement. In the event of any repurchase by the Company (or
any of its assigns), the Company is hereby authorized by the Grantee and any
Permitted Transferee, as the Grantee’s and each such Permitted Transferee’s
attorney-infact, to date and complete the stock powers necessary for the
transfer of the Shares being purchased and to transfer such Shares in
accordance with the terms hereof. At such time as any Shares are no longer
subject to the Company’s Repurchase Right and right of first refusal, the
Company shall, at the written request of the Grantee, deliver to the Grantee
(or the relevant Permitted Transferee) a certificate representing such Shares
with the balance of the Shares (if any) to be held in escrow pursuant to this Section 7.

 

(b)                              Remedy. Without limitation of any other provision of
this Agreement or other rights, in the event that the Grantee, any Permitted
Transferees or any other person or entity is required to sell the Grantee’s
Shares pursuant to the provisions of Section 3, 4 and 5 of this Agreement
and in the further event that he or she refuses or for any reason fails to
deliver to the designated purchaser of such Shares the certificate or
certificates evidencing such Shares together with a related stock power, such
designated purchaser may deposit the applicable purchase price for such Shares
with a bank designated by the Company, or with the Company’s independent public
accounting firm, as agent or trustee, or in escrow, for the Grantee, any
Permitted Transferees or other person or entity, to be held by such bank or
accounting firm for the benefit of and for delivery to him, her, them or it,
and/or, in its discretion, pay such purchase price by offsetting any
indebtedness then owed by the Grantee as provided above. Upon any such deposit
and/or offset by the designated purchaser of such amount and upon notice to the
person or entity who was required to sell the Shares to be sold pursuant to the
provisions of Section 3, 4 and 5, such Shares shall at such time be deemed
to have been sold, assigned, transferred and conveyed to such purchaser, the
holder thereof shall have no further rights thereto (other than the right to
withdraw the payment thereof held in escrow, if applicable), and the Company
shall record such transfer in its stock transfer book or in any appropriate
manner.

 

8.                         Withholding
Taxes. The Grantee acknowledges and
agrees that the Company or any of its Subsidiaries have the right to deduct
from payments of any kind otherwise due to the Grantee, or from the Shares held
pursuant to Section 7 hereof, the minimum federal, state or local taxes of
any kind required by law to be withheld with respect to the purchase of the
Shares by the Grantee. In furtherance
of the foregoing the Grantee agrees to elect, in accordance with Section 83(b) of
the Internal Revenue Code of 1986, as amended, to recognize

 

7

 

ordinary income in the year of acquisition of
the Shares, and to pay to the Company all withholding taxes shown as due on his
or her Section 83(b) election form, or otherwise ultimately determined
to be due with respect to such election, based on the excess, if any, of the
Fair Market Value of such Shares as of the date of the purchase of such Shares
by the Grantee over the purchase price for such Shares. The Grantee
acknowledges that the Company has advised the Grantee to obtain tax advice from
his own personal tax advisor on the tax consequences of the purchase of the
Shares. The Grantee agrees that the filing of a Section 83(b) election
is the Grantee’s responsibility.

 

9.                                       Assignment.
At the discretion of the Board, the Company shall have the right to assign the
right to exercise its Repurchase Right or right of first refusal to any Person
or Persons, in whole or in part in any particular instance, upon the same terms
and conditions applicable to the exercise thereof by the Company, and such
assignee or assignees of the Company shall then take and hold any Shares so
acquired subject to such terms as may be specified by the Company in connection
with any such assignment.

 

10.                                 Miscellaneous
Provisions.

 

(a)                                Lockup
provision. The Grantee and each Permitted Transferee shall agree, if
requested by the Company and any underwriter engaged by the Company, not to
sell or otherwise transfer or dispose of any securities of the Company
(including, without limitation, pursuant to Rule 144 under the Act) held
by him or her for (a) one hundred eighty (180) days following the
effective date of the relevant registration statement filed under the Act in
connection with the Company’s Initial Public Offering, or (b) ninety (90)
days following the effective date of the relevant registration statement in
connection with any other public offering of Stock, as the Company and such
underwriter shall specify reasonably and in good faith. Notwithstanding the
foregoing, if: (x) during the last 17 days of the foregoing 180-day period
or 90-day period, as applicable, the Company issues an earnings release or
material news or a material event relating to the Company occurs; or (y) prior
to the expiration of the 180-day period or 90-day period, as applicable, the
Company announces that it will release earnings results during the 16-day
period beginning on the last day of the period, then the restrictions described
above shall continue to apply until the expiration of an 18-day period
beginning on the issuance of the earnings release or the occurrence of the
material news or material event. The Grantee agrees, if requested by the
underwriter engaged by the Company, to execute a separate letter reflecting the
agreement set forth in this Section 10(a).

 

(b)          Termination. The restrictions on transfer of Vested
Shares under Section 4(c) and the Grantee’s Drag Along obligations
under Section 5 shall terminate upon the closing of the Company’s Initial
Public Offering or upon consummation of any Sale Event as a result of which
shares of the Company (or successor entity) of the same class as the Shares are
registered under Section 12 of the Exchange Act of 1934 and publicly
traded on NASDAQ/NMS or any national security exchange; provided, however, that
all other provisions shall remain in effect following the same until all of the
Shares have become Vested Shares.

 

(c)           Record Owner; Dividends. The Grantee and any
Permitted Transferees, during the duration of this Agreement, shall be
considered the record owners

 

8

 

of and shall be entitled to vote the Shares if and to the extent the
Shares are entitled to voting rights. The Grantee and any Permitted Transferees
shall be entitled to receive all dividends and any other distributions declared
on the Shares; provided, however, that the Company is under no duty to declare
any such dividends or to make any such distribution.

 

(d)          Equitable Relief. The parties hereto agree and
declare that legal remedies are inadequate to enforce the provisions of this
Agreement and that equitable relief, including specific performance and
injunctive relief, may be used to enforce the provisions of this Agreement.

 

(e)           Change and Modifications. This Agreement may not be
orally changed, modified or terminated, nor shall any oral waiver of any of its
terms be effective. This Agreement may be changed, modified or terminated only
by an agreement in writing signed by the Company and the Grantee.

 

(f)           Governing Law. This Agreement shall be governed by
and construed in accordance with the laws of Delaware without regard to
conflict of law principles.

 

(g)          Headings. The headings are intended only for
convenience in finding the subject matter and do not constitute part of the
text of this Agreement and shall not be considered in the interpretation of
this Agreement.

 

(h)          Saving Clause. If any provision(s) of this
Agreement shall be determined to be illegal or unenforceable, such
determination shall in no manner affect the legality or enforceability of any
other provision hereof.

 

(i)            Notices. All notices, requests, consents and other
communications shall be in writing and be deemed given when delivered
personally, by telex or facsimile transmission or when received if mailed by
first class registered or certified mail, postage prepaid. Notices to the
Company or the Grantee shall be addressed as set forth underneath their
signatures below, or to such other address or addresses as may have been
furnished by such party in writing to the other. Notices to any holder of the
Shares other than the Grantee shall be addressed to the address furnished by
such holder to the Company.

 

(j)            Benefit and Binding Effect. This Agreement shall
be binding upon and shall inure to the benefit of the parties hereto, their
respective successors, assigns, and legal representatives. Without limitation
of the foregoing, upon any stock-for-stock merger in which the Company is not
the surviving entity, shares of the Company’s successor issued in respect of
the Shares shall remain subject to vesting and, if such successor is a private
company, subject to the Repurchase Right in Section 3, the right of first
refusal under Section 4(c), the drag-along under Section 5 and the
lockup provision under Section 10(a). The Company has the right to assign
this Agreement, and such assignee shall become entitled to all the rights of
the Company hereunder to the extent of such assignment.

 

(k)           Dispute Resolution. Except as
provided below, any dispute arising out of or relating to this Agreement or the
breach, termination or validity hereof shall be finally settled by binding
arbitration conducted expeditiously in accordance with the

 

9

 

J.A.M.S./Endispute Comprehensive Arbitration Rules and Procedures
(the “J.A.M.S. Rules”). The arbitration shall be governed by the United States
Arbitration Act, 9 U.S.C. §§1-16, and judgment upon the award rendered by the
arbitrators may be entered by any court having jurisdiction thereof. The place
of arbitration shall be New York, New York.

 

The parties covenant and agree that the
arbitration shall commence within 60 days of the date on which a written demand
for arbitration is filed by any party hereto. In connection with the
arbitration proceeding, the arbitrator shall have the power to order the
production of documents by each party and any third-party witnesses. In
addition, each party may take up to three depositions as of right, and the
arbitrator may in his or her discretion allow additional depositions upon good
cause shown by the moving party. However, the arbitrator shall not have the
power to order the answering of interrogatories or the response to requests for
admission. In connection with any arbitration, each party shall provide to the
other, no later than seven (7) business days before the date of the
arbitration, the identity of all persons that may testify at the arbitration
and a copy of all documents that may be introduced at the arbitration or
considered or used by a party’s witness or expert. The arbitrator’s decision
and award shall be made and delivered within six (6) months of the
selection of the arbitrator. The arbitrator’s decision shall set forth a
reasoned basis for any award of damages or finding of liability. The arbitrator
shall not have power to award damages in excess of actual compensatory damages
and shall not multiply actual damages or award punitive damages or any other
damages that are specifically excluded under this Agreement, and each party
hereby irrevocably waives any claim to such damages.

 

The parties covenant and agree that they will
participate in the arbitration in good faith. This Section 10(k) applies
equally to requests for temporary, preliminary or permanent injunctive relief,
except that in the case of temporary or preliminary injunctive relief any party
may proceed in court without prior arbitration for the limited purpose of
avoiding immediate and irreparable harm.

 

Each of the parties hereto (i) hereby
irrevocably submits to the jurisdiction of any United States District Court of
competent jurisdiction for the purpose of enforcing the award or decision in
any such proceeding, (ii) hereby waives, and agrees not to assert, by way
of motion, as a defense, or otherwise, in any such suit, action or proceeding, any
claim that it is not subject personally to the jurisdiction of the above-named
courts, that its property is exempt or immune from attachment or execution
(except as protected by applicable law), that the suit, action or proceeding is
brought in an inconvenient forum, that the venue of the suit, action or
proceeding is improper or that this Agreement or the subject matter hereof may
not be enforced in or by such court, and hereby waives and agrees not to seek
any review by any court of any other jurisdiction which may be called upon to
grant an enforcement of the judgment of any such court. Each of the parties
hereto hereby consents to service of process by registered mail at the address
to which notices are to be given. Each of the parties hereto agrees that its,
his or her submission to jurisdiction and its, his or her consent to service of
process by mail is made for the express benefit of the other parties hereto.
Final judgment against any party hereto in any such action, suit or proceeding
may be enforced in other jurisdictions by suit, action or proceeding on the
judgment, or in any other manner provided by or pursuant to

 

10

 

the laws of such other jurisdiction.

 

(l)            Counterparts. For the convenience of the parties
and to facilitate execution, this Agreement may be executed in two or more
counterparts, each of which shall be deemed an original, but all of which shall
constitute one and the same document.

 

[SIGNATURE PAGE FOLLOWS]

 

11

 

IN WITNESS WHEREOF, the Company and the Grantee have executed this
Restricted Stock Agreement as of the date first above written.

 

	
   

  	
  COMPANY

  
	
   

  	
   

  
	
   

  	
  OPEN LINK FINANCIAL, INC.

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  GRANTEE:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
   

  
	
   

  	
  Address:

  
				

 

 

SPOUSE’S CONSENT

 

I acknowledge that I have read the foregoing Restricted Stock Agreement
and understand the contents thereof.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00142-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00142-of-00352.parquet"}]]