Document:

exv10w14

 

Exhibit 10.14

INDEMNIFICATION AGREEMENT

     This Agreement is made as of [                    ] 200[_], by and between Gomez, Inc., a Delaware
corporation (the “Company”), and [                                        ] (the “Indemnitee”), a director or officer of the
Company.

     WHEREAS, it is essential to the Company to retain and attract as directors and officers the
most capable persons available,

     WHEREAS, the substantial increase in corporate litigation subjects directors and officers to
expensive litigation risks at the same time that the availability of directors’ and officers’
liability insurance has been severely limited,

     WHEREAS, it is now and has always been the express policy of the Company to indemnify its
directors and officers,

     WHEREAS, the Indemnitee does not regard the protection available under the Company’s
Certificate of Incorporation and insurance as adequate in the present circumstances, and may not be
willing to serve or continue to serve as a director or officer without adequate protection, and

     WHEREAS, the Company desires the Indemnitee to serve, or continue to serve, as a director or
officer of the Company.

     NOW THEREFORE, the Company and the Indemnitee do hereby agree as follows:

     1. Agreement to Serve. The Indemnitee agrees to serve or continue to serve as a
director or officer of the Company for so long as the Indemnitee is duly elected or appointed or
until such time as the Indemnitee tenders a resignation in writing.

     2. Definitions. As used in this Agreement:

     (a) The term “Change in Control” shall mean:

	 	(i)	 	the acquisition by an individual, entity or group (within the
meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934
(the “Exchange Act”)) (a “Person”) of beneficial ownership of any capital stock
of the Company if, after such acquisition, such Person beneficially owns
(within the meaning of Rule 13d-3 promulgated under the Exchange Act) 50% or
more of either (x) the then-outstanding shares of common stock of the Company
(the “Outstanding Company Common Stock”) or (y) the combined voting power of
the then-outstanding securities of the Company entitled to vote generally in
the election of directors (the “Outstanding Company Voting Securities”);
provided, however, that for purposes of this subsection (i), the following
acquisitions shall not constitute a Change in Control: (1) any acquisition
directly from the Company (excluding an acquisition pursuant to the exercise,
conversion or exchange of any security exercisable for, convertible into or
exchangeable for common stock or voting securities of the Company, unless the
Person exercising, converting or exchanging such security acquired such
security directly from the Company or an underwriter or agent of the Company),
(2) any acquisition by any employee benefit plan (or related trust)
sponsored or maintained by the Company or any corporation controlled by the
Company, or (3) any acquisition by any corporation pursuant to a Business

 

 

	 	 	 	Combination (as defined below) which complies with clauses (x) and (y) of
subsection (iii) of this definition; or
	 
	 	(ii)	 	such time as the Continuing Directors (as defined below) do not
constitute a majority of the Board of Directors of the Company (or, if
applicable, the Board of Directors of a successor corporation to the Company),
where the term “Continuing Director” means at any date a member of the Board of
Directors of the Company (x) who was a member of the Board of Directors of the
Company on the date of this Agreement or (y) who was nominated or elected
subsequent to such date by at least a majority of the directors who were
Continuing Directors at the time of such nomination or election or whose
election to the Board of Directors of the Company was recommended or endorsed
by at least a majority of the directors who were Continuing Directors at the
time of such nomination or election; provided, however, that there shall be
excluded from this clause (y) any individual whose initial assumption of office
occurred as a result of an actual or threatened election contest with respect
to the election or removal of directors or other actual or threatened
solicitation of proxies or consents, by or on behalf of a person other than the
Board of Directors of the Company; or
	 
	 	(iii)	 	the consummation of a merger, consolidation, reorganization,
recapitalization or share exchange involving the Company or a sale or other
disposition of all or substantially all of the assets of the Company (a
“Business Combination”), unless, immediately following such Business
Combination, each of the following two conditions is satisfied: (x) all or
substantially all of the individuals and entities who were the beneficial
owners of the Outstanding Company Common Stock and Outstanding Company Voting
Securities immediately prior to such Business Combination beneficially own,
directly or indirectly, more than 50% of the then-outstanding shares of common
stock and the combined voting power of the then-outstanding securities entitled
to vote generally in the election of directors, respectively, of the resulting
or acquiring corporation in such Business Combination (which shall include,
without limitation, a corporation which as a result of such transaction owns
the Company or substantially all of the Company’s assets either directly or
through one or more subsidiaries) (such resulting or acquiring corporation is
referred to herein as the “Acquiring Company”) in substantially the same
proportions as their ownership of the Outstanding Company Common Stock and
Outstanding Company Voting Securities, respectively, immediately prior to such
Business Combination and (y) no Person (excluding any employee benefit plan (or
related trust) maintained or sponsored by the Company or by the Acquiring
Company) beneficially owns, directly or indirectly, 35% or more of the
then-outstanding shares of common stock of the Acquiring Company, or of the
combined voting power of the then-outstanding securities of such corporation
entitled to vote generally in the election of directors (except to the extent
that such ownership existed prior to the Business Combination); or
	 
	 	(iv)	 	the liquidation or dissolution of the Company.

     (b) The term “Proceeding” shall include any threatened, pending or completed action,
suit, arbitration, alternative dispute resolution proceeding, administrative hearing or other
proceeding,
whether brought by or in the right of the Company or otherwise and whether of a civil,
criminal, administrative or investigative nature, and any appeal therefrom.

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     (c) The term “Corporate Status” shall mean the status of a person who is or was, or has
agreed to become, a director or officer of the Company, or is or was serving, or has agreed to
serve, at the request of the Company, as a director, officer, fiduciary, partner, trustee,
member, employee or agent of, or in a similar capacity with, another corporation, partnership,
joint venture, trust, limited liability company or other enterprise.

     (d) The term “Expenses” shall include, without limitation, attorneys’ fees, retainers,
court costs, transcript costs, fees and expenses of experts, travel expenses, duplicating
costs, printing and binding costs, telephone charges, postage, delivery service fees and other
disbursements or expenses of the types customarily incurred in connection with investigations,
judicial or administrative proceedings or appeals, but shall not include the amount of
judgments, fines or penalties against Indemnitee or amounts paid in settlement in connection
with such matters.

     (e) The term “Special Independent Counsel” shall mean a law firm, or a member of a law
firm, that is experienced in matters of corporation law and neither currently is, nor in the
past five years has been, retained to represent: (i) the Company or the Indemnitee in any
matter material to either such party or (ii) any other party to the Proceeding giving rise to
a claim for indemnification hereunder. Notwithstanding the foregoing, the term “Special
Independent Counsel” shall not include any person who, under the applicable standards of
professional conduct then prevailing, would have a conflict of interest in representing either
the Company or the Indemnitee in an action to determine the Indemnitee’s rights under this
Agreement.”

     (f) References to “other enterprise” shall include employee benefit plans; references to
“fines” shall include any excise tax assessed with respect to any employee benefit plan;
references to “serving at the request of the Company” shall include any service as a director,
officer, employee or agent of the Company that imposes duties on, or involves services by,
such director, officer, employee, or agent with respect to an employee benefit plan, its
participants, or beneficiaries; and a person who acted in good faith and in a manner such
person reasonably believed to be in the interests of the participants and beneficiaries of an
employee benefit plan shall be deemed to have acted in a manner “not opposed to the best
interests of the Company” as referred to in this Agreement.

     3. Indemnity of Indemnitee. Subject to Sections 6, 7 and 9, the Company shall
indemnify the Indemnitee in connection with any Proceeding as to which the Indemnitee is, was or is
threatened to be made a party (or is otherwise involved) by reason of the Indemnitee’s Corporate
Status, to the fullest extent permitted by law (as such may be amended from time to time). In
furtherance of the foregoing and without limiting the generality thereof:

     (a) Indemnification in Third-Party Proceedings. The Company shall indemnify the
Indemnitee in accordance with the provisions of this Section 3(a) if the Indemnitee was or is
a party to or threatened to be made a party to or otherwise involved in any Proceeding (other
than a Proceeding by or in the right of the Company to procure a judgment in its favor or a
Proceeding referred to in Section 6 below) by reason of the Indemnitee’s Corporate Status or
by reason of any action alleged to have been taken or omitted in connection therewith, against
all Expenses, judgments, fines, penalties and amounts paid in settlement actually and
reasonably incurred by or on behalf of the Indemnitee in connection with such Proceeding, if
the Indemnitee acted in good faith and in a manner that the Indemnitee reasonably believed to
be in, or not opposed to, the best interests of the Company and, with respect to any criminal
Proceeding, had no reasonable cause to believe that his or her conduct was unlawful.

     (b) Indemnification in Proceedings by or in the Right of the Company. The
Company shall indemnify the Indemnitee in accordance with the provisions of this Section 3(b)
if the Indemnitee

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was or is a party to or threatened to be made a party to or otherwise
involved in any Proceeding by or in the right of the Company to procure a judgment in its
favor by reason of the Indemnitee’s Corporate Status or by reason of any action alleged to
have been taken or omitted in connection therewith, against all Expenses and, to the extent
permitted by law, amounts paid in settlement actually and reasonably incurred by or on behalf
of the Indemnitee in connection with such Proceeding, if the Indemnitee acted in good faith
and in a manner that the Indemnitee reasonably believed to be in, or not opposed to, the best
interests of the Company, except that, if applicable law so provides, no indemnification shall
be made under this Section 3(b) in respect of any claim, issue, or matter as to which the
Indemnitee shall have been adjudged to be liable to the Company, unless, and only to the
extent, that the Court of Chancery of Delaware or the court in which such action or suit was
brought shall determine upon application that, despite the adjudication of such liability but
in view of all the circumstances of the case, the Indemnitee is fairly and reasonably entitled
to indemnity for such Expenses as the Court of Chancery or such other court shall deem proper.

     4. Indemnification of Expenses of Successful Party. Notwithstanding any other
provision of this Agreement, to the extent that the Indemnitee has been successful, on the merits
or otherwise, in defense of any Proceeding or in defense of any claim, issue or matter therein
(other than a Proceeding referred to in Section 6), the Indemnitee shall be indemnified against all
Expenses actually and reasonably incurred by or on behalf of the Indemnitee in connection
therewith. Without limiting the foregoing, if any Proceeding or any claim, issue or matter therein
is disposed of, on the merits or otherwise (including a disposition without prejudice), without (i)
the disposition being adverse to the Indemnitee, (ii) an adjudication that the Indemnitee was
liable to the Company, (iii) a plea of guilty or nolo contendere by the Indemnitee, (iv) an
adjudication that the Indemnitee did not act in good faith and in a manner the Indemnitee
reasonably believed to be in or not opposed to the best interests of the Company, and (v) with
respect to any criminal proceeding, an adjudication that the Indemnitee had reasonable cause to
believe his or her conduct was unlawful, the Indemnitee shall be considered for the purposes hereof
to have been wholly successful with respect thereto.

     5. Indemnification for Expenses of a Witness. To the extent that the Indemnitee is,
by reason of the Indemnitee’s Corporate Status, a witness in any Proceeding to which the Indemnitee
is not a party, the Indemnitee shall be indemnified against all Expenses actually and reasonably
incurred by or on behalf of the Indemnitee in connection therewith.

     6. Exceptions to Right of Indemnification. Notwithstanding anything to the contrary
to this Agreement, except as set forth in Section 10, the Company shall not indemnify the
Indemnitee in connection with a Proceeding (or part thereof) initiated by the Indemnitee unless (a)
the initiation thereof was approved by the Board of Directors of the Company or (b) the Proceeding
was commenced following a Change in Control. Notwithstanding anything to the contrary in this
Agreement, the Company shall not indemnify the Indemnitee to the extent the Indemnitee is
reimbursed from the proceeds of insurance, and in the event the Company makes any indemnification
payments to the Indemnitee and the Indemnitee is subsequently reimbursed from the proceeds of
insurance, the Indemnitee shall promptly refund such indemnification payments to the Company to the
extent of such insurance reimbursement.

     7. Notification and Defense of Claim. As a condition precedent to the Indemnitee’s
right to be indemnified, the Indemnitee must notify the Company in writing as soon as practicable
of any Proceeding for which indemnity will or could be sought. With respect to any Proceeding of
which the Company is so notified, the Company will be entitled to participate therein at its own
expense and/or to assume the defense thereof at its own expense, with legal counsel reasonably
acceptable to the Indemnitee. After notice from the Company to the Indemnitee of its election so
to assume such defense, the Company shall
not be liable to the Indemnitee for any legal or other expenses subsequently incurred by the
Indemnitee in connection with such Proceeding, other than as provided below in this Section 7. The
Indemnitee shall

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have the right to employ his or her own counsel in connection with such
Proceeding, but the fees and expenses of such counsel incurred after notice from the Company of its
assumption of the defense thereof shall be at the expense of the Indemnitee unless (i) the
employment of counsel by the Indemnitee has been authorized by the Company, (ii) counsel to the
Indemnitee shall have reasonably concluded that there may be a conflict of interest or position on
any significant issue between the Company and the Indemnitee in the conduct of the defense of such
Proceeding or (iii) the Company shall not in fact have employed counsel to assume the defense of
such Proceeding, in each of which cases the fees and expenses of counsel for the Indemnitee shall
be at the expense of the Company, except as otherwise expressly provided by this Agreement, and
provided that Indemnitee’s counsel shall cooperate reasonably with the Company’s counsel to
minimize the cost of defending claims against the Company and the Indemnitee. The Company shall
not be entitled, without the consent of the Indemnitee, to assume the defense of any claim brought
by or in the right of the Company or as to which counsel for the Indemnitee shall have reasonably
made the conclusion provided for in clause (ii) above. The Company shall not be required to
indemnify the Indemnitee under this Agreement for any amounts paid in settlement of any Proceeding
effected without its written consent. The Company shall not settle any Proceeding in any manner
that would impose any penalty or limitation on the Indemnitee without the Indemnitee’s written
consent. Neither the Company nor the Indemnitee will unreasonably withhold or delay their consent
to any proposed settlement.

     8. Advancement of Expenses. Subject to the provisions of Section 9, in the event that
the Company does not assume the defense pursuant to Section 7 of any Proceeding of which the
Company receives notice under this Agreement, any Expenses actually and reasonably incurred by or
on behalf of the Indemnitee in defending such Proceeding shall be paid by the Company in advance of
the final disposition of such Proceeding; provided, however, that the payment of such Expenses
incurred by or on behalf of the Indemnitee in advance of the final disposition of such Proceeding
shall be made only upon receipt of an undertaking by or on behalf of the Indemnitee to repay all
amounts so advanced in the event that it shall ultimately be determined that the Indemnitee is not
entitled to be indemnified by the Company as authorized in this Agreement. Such undertaking shall
be accepted without reference to the financial ability of the Indemnitee to make repayment. Any
advances and undertakings to repay pursuant to this Section 8 shall be unsecured and interest-free.

     9. Procedures.

     (a) In order to obtain indemnification or advancement of Expenses pursuant to this
Agreement, the Indemnitee shall submit to the Company a written request, including in such
request such documentation and information as is reasonably available to the Indemnitee and is
reasonably necessary to determine whether and to what extent the Indemnitee is entitled to
indemnification or advancement of Expenses. Any such indemnification or advancement of
Expenses shall be made promptly, and in any event within (i) in the case of indemnification
under Section 4, 5 or 9(d) or advancement of Expenses, 30 days after receipt by the Company of
the written request of the Indemnitee, or (ii) in the case of all other indemnification, 60
days after receipt by the Company of the written request of the Indemnitee, unless with
respect to requests under this clause (ii) the Company determines, by clear and convincing
evidence, within the 60-day period referred to above that the Indemnitee did not meet the
applicable standard of conduct. Such determination, and any determination that advanced
Expenses must be repaid to the Company, shall be made as follows:

	 	(x)	 	if a Change in Control shall have occurred, by Special
Independent Counsel in a written opinion to the Board of Directors of the
Company, a copy of which shall be delivered to the Indemnitee (unless the
Indemnitee shall request that such
determination be made by the Board of Directors of the Company, in which case
the

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	 	 	 	determination shall be made in the manner provided below in clauses (y)(1)
or (y)(2)).
	 
	 	(y)	 	in all other cases, in the discretion of the Board of Directors
of the Company, (1) by a majority vote of the directors of the Company
consisting of persons who are not at that time parties to the Proceeding
(“disinterested directors”), whether or not a quorum, (2) by a committee of
disinterested directors designated by a majority vote of disinterested
directors, whether or not a quorum, (3) if there are no disinterested
directors, or if the disinterested directors so direct, by independent legal
counsel in a written opinion to the Board, or (4) by the stockholders of the
Company.

     (b) In the event that a Change in Control shall have occurred and the determination of
entitlement to indemnification is to be made by Special Independent Counsel, the Special
Independent Counsel shall be selected as provided in this Section 9(b). The Special
Independent Counsel shall be selected by the Indemnitee, unless the Indemnitee shall request
that such selection be made by the Board of Directors of the Company. The party making the
determination shall give written notice to the other party advising it of the identity of the
Special Independent Counsel so selected. The party receiving such notice may, within seven
days after such written notice of selection shall have been given, deliver to the other party
a written objection to such selection. Such objection may be asserted only on the ground that
the Special Independent Counsel so selected does not meet the requirements of “Special
Independent Counsel” as defined in Section 2, and the objection shall set forth with
particularity the factual basis of such assertion. Absent a proper and timely objection, the
person so selected shall act as Special Independent Counsel. If a written objection is made,
the Special Independent Counsel so selected may not serve as Special Independent Counsel
unless and until a court has determined that such objection is without merit. If, within 20
days after submission by the Indemnitee of a written request for indemnification, no Special
Independent Counsel shall have been selected or if selected, shall have been objected to, in
accordance with this paragraph either the Company or the Indemnitee may petition the Court of
Chancery of the State of Delaware or other court of competent jurisdiction for resolution of
any objection that shall have been made by the Company or the Indemnitee to the other’s
selection of Special Independent Counsel and/or for the appointment as Special Independent
Counsel of a person selected by the court or by such other person as the court shall
designate, and the person with respect to whom an objection is favorably resolved or the
person so appointed shall act as Special Independent Counsel. The Company shall pay the
reasonable and necessary fees and expenses of Special Independent Counsel incurred in
connection with its acting in such capacity. The Company shall pay any and all reasonable and
necessary fees and expenses incident to the procedures of this paragraph, regardless of the
manner in which such Special Independent Counsel was selected or appointed. Upon the due
commencement of any judicial proceeding pursuant to Section 10 of this Agreement, any Special
Independent Counsel shall be discharged and relieved of any further responsibility in such
capacity (subject to the applicable standards of professional conduct then prevailing).

     (c) The termination of any Proceeding by judgment, order, settlement, conviction or upon
a plea of nolo contendere or its equivalent, shall not, of itself, create a presumption that
the Indemnitee did not act in good faith and in a manner that the Indemnitee reasonably
believed to be in, or not opposed to, the best interests of the Company, and, with respect to
any criminal Proceeding, had reasonable cause to believe that his or her conduct was unlawful.

     (d) The Indemnitee shall cooperate with the person, persons or entity making such
determination with respect to the Indemnitee’s entitlement to indemnification, including
providing
to such person, persons or entity upon reasonable advance request any documentation or
information

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that is not privileged or otherwise protected from disclosure and that is
reasonably available to the Indemnitee and reasonably necessary to such determination. Any
Expenses actually and reasonably incurred by the Indemnitee in so cooperating shall be borne
by the Company (irrespective of the determination as to the Indemnitee’s entitlement to
indemnification) and the Company hereby indemnifies the Indemnitee therefrom.

     10. Remedies. The right to indemnification or advancement of Expenses as provided by
this Agreement shall be enforceable by the Indemnitee in any court of competent jurisdiction if the
Company denies such request, in whole or in part, or if no disposition thereof is made within the
applicable period referred to in Section 9. Unless otherwise required by law, the burden of
proving that indemnification or advancement of Expenses is not appropriate shall be on the Company.
Neither the failure of the Company to have made a determination prior to the commencement of such
action that indemnification is proper in the circumstances because the Indemnitee has met the
applicable standard of conduct, nor an actual determination by the Company that the Indemnitee has
not met such applicable standard of conduct, shall be a defense to the action or create a
presumption that the Indemnitee has not met the applicable standard of conduct. The Indemnitee’s
Expenses actually and reasonably incurred in connection with successfully establishing the
Indemnitee’s right to indemnification, in whole or in part, in any such Proceeding shall also be
indemnified by the Company.

     11. Partial Indemnification. If the Indemnitee is entitled under any provision of
this Agreement to indemnification by the Company for some or a portion of the Expenses, judgments,
fines, penalties or amounts paid in settlement actually and reasonably incurred by or on behalf of
the Indemnitee in connection with any Proceeding but not, however, for the total amount thereof,
the Company shall nevertheless indemnify the Indemnitee for the portion of such Expenses,
judgments, fines, penalties or amounts paid in settlement to which the Indemnitee is entitled.

     12. Subrogation. In the event of any payment under this Agreement, the Company shall
be subrogated to the extent of such payment to all of the rights of recovery of the Indemnitee, who
shall execute all papers required and take all action necessary to secure such rights, including
execution of such documents as are necessary to enable the Company to bring suit to enforce such
rights.

     13. Term of Agreement. This Agreement shall continue until and terminate upon the
later of (a) six years after the date that the Indemnitee shall have ceased to serve as a director
or officer of the Company or, at the request of the Company, as a director, officer, partner,
trustee, member, employee or agent of another corporation, partnership, joint venture, trust,
limited liability company or other enterprise or (b) the final termination of all Proceedings
pending on the date set forth in clause (a) in respect of which the Indemnitee is granted rights of
indemnification or advancement of Expenses hereunder and of any proceeding commenced by the
Indemnitee pursuant to Section 10 of this Agreement relating thereto.

     14. Indemnification Hereunder Not Exclusive. The indemnification and advancement of
Expenses provided by this Agreement shall not be deemed exclusive of any other rights to which the
Indemnitee may be entitled under the Certification of Incorporation, the By-Laws, any other
agreement, any vote of stockholders or disinterested directors, the General Company Law of
Delaware, any other law (common or statutory), or otherwise, both as to action in the Indemnitee’s
official capacity and as to action in another capacity while holding office for the Company.
Nothing contained in this Agreement shall be deemed to prohibit the Company from purchasing and
maintaining insurance, at its expense, to protect itself or the Indemnitee against any expense,
liability or loss incurred by it or the Indemnitee in any such capacity, or arising out of the
Indemnitee’s status as such, whether or not the Indemnitee would be indemnified against such
expense, liability or loss under this Agreement; provided that the Company shall not be liable
under this Agreement to make any payment of amounts otherwise indemnifiable hereunder if

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and to the extent that the Indemnitee has otherwise actually received such payment under any
insurance policy, contract, agreement or otherwise.

     15. No Special Rights. Nothing herein shall confer upon the Indemnitee any right to
continue to serve as an officer or director of the Company for any period of time or at any
particular rate of compensation.

     16. Savings Clause. If this Agreement or any portion thereof shall be invalidated on
any ground by any court of competent jurisdiction, then the Company shall nevertheless indemnify
the Indemnitee as to Expenses, judgments, fines, penalties and amounts paid in settlement with
respect to any Proceeding to the full extent permitted by any applicable portion of this Agreement
that shall not have been invalidated and to the fullest extent permitted by applicable law.

     17. Counterparts. This Agreement may be executed in any number of counterparts, each
of which shall constitute the original.

     18. Successors and Assigns. This Agreement shall be binding upon the Company and its
successors and assigns and shall inure to the benefit of the estate, heirs, executors,
administrators and personal representatives of the Indemnitee.

     19. Headings. The headings of the paragraphs of this Agreement are inserted for
convenience only and shall not be deemed to constitute part of this Agreement or to affect the
construction thereof.

     20. Modification and Waiver. This Agreement may be amended from time to time to
reflect changes in Delaware law or for other reasons. No supplement, modification or amendment of
this Agreement shall be binding unless executed in writing by both of the parties hereto. No
waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of
any other provision hereof nor shall any such waiver constitute a continuing waiver.

     21. Notices. All notices, requests, demands and other communications hereunder shall
be in writing and shall be deemed to have been given (i) when delivered by hand or (ii) if mailed
by certified or registered mail with postage prepaid, on the third day after the date on which it
is so mailed:

	 	(a)	 	if to the Indemnitee, to:
	 
	 	 	 	[                                                            ]

[                                                            ]

[                                                            ]
	 
	 	(b)	 	if to the Company, to:
	 
	 	 	 	Gomez, Inc.

10 Maguire Road, Suite 330

Lexington, MA 02421-3110

Attn.: Chief Financial Officer

or to such other address as may have been furnished to the Indemnitee by the Company or to the
Company by the Indemnitee, as the case may be.

     22. Applicable Law. This Agreement shall be governed by, and construed and enforced
in accordance with, the laws of the State of Delaware. The Indemnitee may elect to have the right
to indemnification or reimbursement or advancement of Expenses interpreted on the basis of the
applicable

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law in effect at the time of the occurrence of the event or events giving rise to the
applicable Proceeding, to the extent permitted by law, or on the basis of the applicable law in
effect at the time such indemnification or reimbursement or advancement of Expenses is sought.
Such election shall be made, by a notice in writing to the Company, at the time indemnification or
reimbursement or advancement of Expenses is sought; provided, however, that if no such notice is
given, and if the General Company Law of Delaware is amended, or other Delaware law is enacted, to
permit further indemnification of the directors and officers, then the Indemnitee shall be
indemnified to the fullest extent permitted under the General Company Law, as so amended, or by
such other Delaware law, as so enacted.

     23. Enforcement. The Company expressly confirms and agrees that it has entered into
this Agreement in order to induce the Indemnitee to continue to serve as an officer or director of
the Company, and acknowledges that the Indemnitee is relying upon this Agreement in continuing in
such capacity.

     24. Entire Agreement. This Agreement sets forth the entire agreement of the parties
hereto in respect of the subject matter contained herein and supercedes all prior agreements,
whether oral or written, by any officer, employee or representative of any party hereto in respect
of the subject matter contained herein; and any prior agreement of the parties hereto in respect of
the subject matter contained herein is hereby terminated and cancelled. For avoidance of doubt,
the parties confirm that the foregoing does not apply to or limit the Indemnitee’s rights under
Delaware law or the Company’s Certificate of Incorporation or By-Laws.

     25. Consent to Suit. In the case of any dispute under or in connection with this
Agreement, the Indemnitee may only bring suit against the Company in the Court of Chancery of the
State of Delaware. The Indemnitee hereby consents to the exclusive jurisdiction and venue of the
courts of the State of Delaware, and the Indemnitee hereby waives any claim the Indemnitee may have
at any time as to forum non conveniens with respect to such venue. The Company shall have the
right to institute any legal action arising out of or relating to this Agreement in any court of
competent jurisdiction. Any judgment entered against either of the parties in any proceeding
hereunder may be entered and enforced by any court of competent jurisdiction.

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of
the day and year first above written.

	 	 	 	 	 
	 	GOMEZ, INC.

 	 
	 	By:  	 	 
	 	 	Name 	 
	 	 	Title 	 
	 
	 	INDEMNITEE: 	 
	 	 	 
	 	 	 
	 

9exv10w15

 

Exhibit 10.15

Gómez

20 Bedford Street

Lexington, MA 02420

May 30, 2005

Carl Pavarini

76 Mountain Ave

Mendham NJ 07945

     Re: Appointment to Board of Directors and Advisory Arrangement with Gomez, Inc.

Dear Carl,

     We are pleased that you have accepted our offer to serve as a member of the Board of Directors
(the “Board”) of Gomez, Inc. (the “Company”), as well as to provide separate advisory services
(the “Advisory Services”) to the Company.

     1. Board Compensation. The Company will grant you an option to purchase 45,734 shares
of Common Stock, $0.0001 par value per share, at a per share exercise price to be determined. The
option will be subject to the terms of a non-qualified stock option agreement and the Company’s
Stock Plan (the “Option Plan”). It is anticipated that the Option Plan will be amended and
restated within the next two months and accordingly your grant will be issued pursuant to such
amended and restated plan. In the event that the Option Plan is not amended and restated by August
1, 2005, then your option will be granted pursuant to the existing Option Plan. This option grant
will vest over three years, with one-third of the options vesting on April 5, 2006 and the
remaining two-thirds of the options vesting in twenty-four equal monthly installments beginning on
the first day of May, 2006. If you cease to be a Director at any time prior to the third
anniversary of this letter agreement, then your unvested options in this option grant will be
forfeited. In the event of a “Change of Control”, as defined in the Option Plan, any unvested
options granted by this option grant will become fully vested.

     2. Board Expenses. The Company will reimburse you for all reasonable out-of-pocket
expenses incurred by you in attending each meeting of the Board, or any committee thereof.

     3. Advisor Services. The Company is pleased to engage you to provide, and by your
countersignature to this letter you hereby agree to provide, to the Company as may be requested by
the Chief Executive Officer of the Company (the “CEO”) under the terms and conditions of this
letter the following Advisory Services: business and strategic consultations with the CEO on an
as-needed basis, not to exceed an average of 10 hours per month. Either the Company or you may
terminate the Advisory Services at any time upon written notice to the other party.

     4. Advisory Services Compensation. As consideration for the Advisory Services, the
Company will grant you an option to purchase 45,734 shares of Common Stock, $0.0001 par value per
share, at a per share exercise price to be determined. The option will be subject to the terms of
a non-qualified stock option agreement and the Option Plan. It is anticipated that the

 

 

Option Plan will be amended and restated within the next two months and accordingly your grant
will be issued pursuant to such amended and restated plan. In the event that the Option Plan is
not amended and restated by August 1, 2005, then your option will be granted pursuant to the
existing Option Plan. The option grant will vest over three years, with one-third of the options
vesting on April 5, 2006, and the remaining two-thirds of the options vesting in twenty-four equal
monthly installments beginning on May 1, 2006. In the event that the Advisory Services are
terminated by either party, then your unvested options in this option grant shall be forfeited.

     5. Advisory Services Expenses. The Company will reimburse you for reasonable
out-of-pocket expenses incurred by you in the performance of the Advisory Services, provided such
out-of-pocket expenses are approved in advance by the CEO and properly itemized and documented for
the Company.

     6. Publicity. You shall not in any way or in any form publicize or advertise in any
manner the fact that you are performing the Advisory Services without the prior written consent of
the Company.

     7. Independent Contractor. You are not, nor shall you be deemed to be at any time
during the period in which you render Advisory Services, an employee of the Company, and therefore
you shall not be entitled to any benefits provided by the Company to its employees (such as health
and disability benefits). Your status and relationship to the Company with respect to the Advisory
Services is that of an independent contractor. You are not an agent of the Company and are not
authorized to bind or act on behalf of the Company with respect to the Advisory Services, and
nothing herein shall create, expressly or by implication, a partnership, joint venture or other
association between the parties.

     8. Miscellaneous. The Advisory Services to be performed hereunder are personal and
you shall not assign your rights hereunder or delegate your obligations without the prior written
consent of the Company. This letter agreement shall be governed by and construed in accordance
with the laws of the Commonwealth of Massachusetts exclusive of reference to its rules or
principles relating to conflict of laws. This letter agreement may not be modified or amended
except in a writing executed by the duly authorized representatives of the Company and you. If
either party fails to enforce any term of this letter agreement or fails to exercise any remedy,
such failure to enforce or exercise on that occasion shall not be construed as a consent to or
waiver of any breach or default hereunder and shall not prevent enforcement of such term of the
letter agreement or exercise of such remedy on any other occasion. Any legal action or proceeding
with respect to this letter agreement shall be brought in the courts of the Commonwealth of
Massachusetts or of the United States of America for the Eastern District of Massachusetts. Each
of the parties hereto accepts for itself and in respect of its property, generally and
unconditionally, the jurisdiction of the aforesaid courts. If for any reason a court of competent
jurisdiction finds any provision of this letter agreement, or portion thereof, to be invalid or
unenforceable, that provision of the letter agreement shall be enforced to the maximum extent
permissible so as to effect the intent of the parties, and the remainder of this letter agreement
shall continue in full force and effect. The headings and captions of the various subdivisions of
this letter are for convenience of reference only and shall in no way modify, or affect the meaning
or construction of any of the terms or provisions hereof. This letter agreement and the
Confidentiality Agreement represent the entire agreement between the

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Company and you with respect to the matters set forth herein, and supercede all prior
proposals and agreements, written or oral, and all other communication between the parties relating
to the subject matter of this letter agreement.

     We look forward to working with you as a member of our Board and as an advisor to our CEO.

	 	 	 	 	 	 	 
	 	 	GOMEZ, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	/s/ Brian R. Day
	 	 
	 	 	   	 	 
	 

	 	By:
	 	Brian R. Day	 	 
	 

	 	Title:
	 	CFO	 	 

	 	 	 
	ACKNOWLEDGED AND AGREED:

	 	 
	 
	 	 
	/s/ Carl Pavarini
	 	 
	 	 	 
	Carl Pavarini

Date: June 8, 2005
	 	 

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Name of Option Holder: Carl Pavarini

Vesting Commencement Date: April 5, 2005

GOMEZ, INC.

Non-Qualified Stock Option Agreement — Advisor Option

     Gomez, Inc., a Delaware corporation (the “Company”), hereby grants as of September 15,
2005 , to Carl Pavarini (the “Option Holder”), in consideration of the Option Holder’s
continued Business Relationship (as defined below) with the Company, an option to purchase a
maximum of 45,734 shares (individually, a “Share”, and collectively, the “Shares”)
of its Common Stock, $.001 par value (the “Common Stock”), at the price of $0.825 per Share
on the following terms and conditions:

     1. Grant Under 2005 Stock Incentive Plan. This option is granted pursuant to and is
governed by the Company’s 2005 Stock Incentive Plan (the “Plan”) and, unless the context
otherwise requires, terms used herein shall have the same meaning as in the Plan. Determinations
made in connection with this option pursuant to the Plan shall be governed by the Plan.

     2. Grant as Non-Qualified Stock Option; Other Options; Revisions to Letter Agreement.
This option is granted as a non-qualified option and is not intended to qualify as an incentive
stock option under Section 422(b) of the Internal Revenue Code of 1986 (the “Code”). This
option is in addition to any other options heretofore or hereafter granted to the Option Holder by
the Company. A duplicate original of this instrument shall not effect the grant of another option.
The Company and the Option Holder agree and acknowledge that this Agreement is in full
satisfaction of the Company’s obligation to grant Option Holder an option pursuant to Section 4 of
that certain letter agreement entered into by and between the Company and the Option Holder as of
May 30, 2005 the “Letter Agreement”), and that the terms herein supersede any and all terms
related to such option in the Letter Agreement.

     3. Vesting.

          (a) Vesting if Business Relationship Continues. If the Option Holder has continued a
Business Relationship with the Company on the applicable dates, the Option Holder may exercise this
option for the following number of Shares: (a) as to one-quarter (1/4) of the Shares, on the first
anniversary of the Vesting Commencement Date; and (b) as to the remaining three-quarters (3/4) of
the Shares, in 36 equal monthly installments beginning on the first day of the first month
following the first anniversary of the Vesting Commencement Date. The foregoing rights are
cumulative and, while the Option Holder continues a Business Relationship with the Company, may be
exercised on or before ten years from date hereof (the “Scheduled Expiration Date”). All
of the foregoing rights are subject to Articles 4 and 5, as appropriate, if the Option Holder
ceases to maintain a Business Relationship with the Company or dies or becomes disabled in the
course of such Business Relationship with the Company.

          (b) Accelerated Vesting Due to Change of Control Event. In the event a Change of
Control Event that is not a Private Transaction occurs while the Option Holder maintains a Business
Relationship with the Company and the Option Holder has options to

 

 

purchase Shares still subject to vesting, then all of the then number of unvested Shares
shall, immediately prior to such Change of Control Event, become vested.

          (c) Parachute Payments. If, in connection with an acceleration of unvested options
pursuant to Article 3(b) above, a tax under Section 4999 of the Code would be imposed on the Option
Holder (after taking into account the exceptions set forth in Sections 280G(b)(4) and 280G(b)(5) of
the Code), and the Option Holder, on an after-tax basis (taking, into account such tax) would
receive greater net compensation by not having any or all of such Stock Rights accelerate, then at
the discretion of the Committee, the number of Shares of the Option Holder which shall become
immediately vested as provided in Article 3(b) above may be reduced (or delayed), to the extent
necessary to maximize such net compensation. For purposes of determining “net compensation”, the
amount of compensation considered to be realized by the Option Holder as a result of such
acceleration shall be determined in accordance with the principles set forth in the Treasury
Regulations under Section 280G of the Code for determining the amount of any “parachute payment”
resulting from the acceleration of vesting of restricted stock, a stock option or any other
unvested stock right.

          (d) Definitions.

     “Business Relationship” means service to the Company or its successor in the
capacity of an advisor pursuant to the Letter Agreement.

     “Change of Control Event” means (1) a merger or consolidation of the Company
into or with any other person or persons who are not affiliates of the Company following
which more than 50% of the voting power of the surviving entity is held, directly or
indirectly, by persons who were not stockholders of the Company or affiliates thereof prior
to the consummation of such transaction or (2) a single transaction or a series of
transactions pursuant to which a person or persons who are not affiliates of the Company
prior to such transaction or transactions acquire either of the following: (i) capital stock
of the Company possessing the voting power to elect a majority of the Company’s board of
directors (whether by merger, consolidation or sale or transfer of the Company’s capital
stock), except that any acquisition of securities directly from the Company shall be
disregarded for purposes of this clause (i); or (ii) all or substantially all of the
Company’s assets determined on a consolidated basis.

     “Private Transaction” means any Change of Control Event where the consideration
received or retained by the holders of the then outstanding capital stock of the Company
does not consist of (i) cash or cash equivalent consideration, (ii) securities which are
registered under the Securities Act of 1933, as amended (the “Act”) and/or (iii) securities
for which the Company or any other issuer thereof has agreed, including pursuant to a
demand, to file a registration statement within ninety (90) days of completion of the
transaction for resale to the public pursuant to the Act.

     “Misconduct” means any one or more of the following: (i) the commission of an
act of embezzlement, fraud or dishonesty, (ii) the deliberate disregard of the rules or
policies of the Company which results in material loss, damage or injury to the Company,
whether directly or indirectly, (iii) the unauthorized disclosure of any trade secret or

- 2 -

 

confidential information of the Company, (iv) the breach by the Option Holder of any
agreement with the Company, including without limitation any noncompetition agreement
between the Option Holder and the Company, or (v) the willful failure by the Option Holder
to perform such Option Holder’s material responsibilities as part of the Business
Relationship with the Company. In making such determination, the Board shall act fairly and
in good faith.

     4. Termination of Business Relationship. Subject to the provisions of Article 18, if
the Option Holder ceases to maintain a Business Relationship with the Company, other than by reason
of death or disability as defined in Article 5, no further installments of this option shall become
exercisable following the date of such cessation of such Business Relationship and this option
shall terminate after the passage of 30 days from the date such Business Relationship ceases, but
in no event later than the Scheduled Expiration Date. In such a case, the Option Holder’s only
rights hereunder shall be those which are properly exercised before the termination of this option.

     5. Death; Disability. If the Option Holder dies while in a Business Relationship with
the Company, this option may be exercised, to the extent of the number of Shares with respect to
which the Option Holder could have exercised it on the date of the Option Holder’s death, by the
Option Holder’s estate, personal representative or beneficiary to whom this option has been
assigned pursuant to Article 10, at any time within one (1) year after the date of death, but not
later than the Scheduled Expiration Date. If the Option Holder ceases to maintain a Business
Relationship with the Company by reason of the Option Holder’s “disability” (as defined in the
Plan), this option maybe exercised, to the extent of the number of Shares with respect to which the
Option Holder could have exercised it on the date of the termination of the Option Holder’s
Business Relationship, at any time within one (1) year after such termination, but not later than
the Scheduled Expiration Date. At the expiration of such one year period or the Scheduled
Expiration Date, whichever is earlier, this option shall terminate and the only rights hereunder
shall be those as to which the option was properly exercised before such termination.

     6. Partial Exercise. Exercise of this option up to the extent above stated may be
made in part at any time and from time to time within the above limits, except that this option may
not be exercised for a fraction of a share. Any fractional share with respect to which an
installment of this option cannot be exercised because of the limitation contained in the preceding
sentence shall remain subject to this option and shall be available for later purchase by the
Option Holder in accordance with the terms hereof.

     7. Payment of Price. The option price is payable in United States dollars and may be
paid either (i) in cash, (ii) by check, (iii) if the Company so agrees in writing, by delivery of
an irrevocable and unconditional undertaking, satisfactory in form and substance to the Company, by
a creditworthy broker to deliver promptly to the Company sufficient funds to pay the exercise
price, or delivery by the Option Holder to the Company of a copy of irrevocable and unconditional
instructions, satisfactory in form and substance to the Company, to a creditworthy broker to
deliver promptly to the Company cash or a check sufficient to pay the exercise price, or (iv) if
the Company so agrees in writing, by any combination of the foregoing, equal in amount to the
option price.

- 3 -

 

     8. Agreement to Purchase for Investment. By acceptance of this option, the Option
Holder agrees that a purchase of Shares under this option will not be made with a view to their
distribution, as that term is used in the Act, and that the Option Holder will not sell, transfer,
pledge or otherwise dispose of such Shares unless in the opinion of counsel to the Company such
sale, transfer, pledge or other disposition is in compliance with or exempt from the registration
and prospectus requirements of the Act. Furthermore, the Option Holder agrees to sign a
certificate to the foregoing effect at the time of exercising this option and agrees that the
certificate for the Shares so purchased may be inscribed with a legend to ensure compliance with
this Article 8, and the Act, as well as with Article 10, Article 17, Article 19 and Article 20,
which legend may be substantially in the following form or in such other form as may be
satisfactory to the Company:

THE SHARES REPRESENTED BY THIS .CERTIFICATE HAVE BEEN ACQUIRED FOR
INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED (THE “ACT’) OR THE SECURITIES LAWS OF ANY STATE AND
MAY NOT BE SOLD OR TRANSFERRED EXCEPT PURSUANT TO A REGISTRATION
UNDER THE ACT OR AN EXEMPTION THEREFROM.

ANY SALE, ASSIGNMENT, TRANSFER OR OTHER DISPOSITION OF THE SHARES
REPRESENTED BY THIS CERTIFICATE IS RESTRICTED BY, AND SUBJECT TO,
THE TERMS AND PROVISIONS OF A CERTAIN NON-QUALIFIED STOCK OPTION
AGREEMENT BETWEEN THE COMPANY AND THE OPTION HOLDER (AS DEFINED IN
SUCH AGREEMENT) CONTAINING PROVISIONS RELATING, INTER-ALIA,
TO RESTRICTIONS ON TRANSFER, DRAG-ALONG RIGHTS AND RIGHTS OF
REPURCHASE. A COPY OF SAID AGREEMENT IS ON FILE WITH THE SECRETARY
OF THE COMPANY.

     9. Method of Exercising Option. Subject to the terms and conditions of this
Agreement, this option may be exercised by written notice to the Company, at the principal
executive office of the Company, or to such transfer agent as the Company shall designate. Such
notice shall state the election to exercise this option and the number of Shares in respect of
which it is being exercised and shall be signed by the person or persons so exercising this option.
If the method of payment for the Shares is described in paragraph (i), (ii) or (iv) of Article 7,
such notice shall be accompanied by payment of the full purchase price of such Shares. The Company
shall deliver a certificate or certificates representing such Shares as soon as practicable after
the notice shall be received. The certificate or certificates for the Shares as to which this
option shall have been so exercised shall be registered in the name of the person or persons so
exercising this option (or, if this option shall be exercised by the Option Holder and if the
Option Holder shall so request in the notice exercising this option, shall be registered in the
name of the Option Holder and another person jointly, with right of survivorship) and shall be
delivered as provided above to or upon the written order of the person or persons exercising this
option. In the event this option shall be exercised, pursuant to Article 5 hereof, by any person
or persons

- 4 -

 

other than the Option Holder, such notice shall be accompanied by appropriate proof of the
right of such person or persons to exercise this option. All Shares that shall be purchased upon
the exercise of this option as provided herein shall be fully paid and non-assessable.

     10. Transfer Restrictions.

          (a) Restriction on Transfer/Exercise of Option. This option is not transferable or
assignable except by will or by the laws of descent and distribution, except with the prior written
consent of the Company. During the Option Holder’s lifetime only the Option Holder can exercise
this option.

          (b) Restriction on Transfer of Shares.

     (i) The Option Holder may not sell, assign, transfer or otherwise
dispose of any Shares at any time prior to the effective date of an Initial
Public Offering (as defined in, and further subject to, the provisions of
Article 20), except:

          (A) with the prior written consent of and subject to such conditions as
may be imposed by the Board;

          (B) if the Option Holder is then party to, and the Shares are then
subject to, the restrictions set forth in the Fourth Amended and Restated
Investor Rights Agreement, by and among the Company and the several
stockholder parties thereto from time to time (as the same may be amended,
restated or otherwise modified from time to time, the “Investor Rights
Agreement”) in accordance with the Investor Rights Agreement, provided
that (I) any sale, assignment or transfer of Shares that are “Residual
Shares” (as defined in Section 3.1(c) of the Investor Rights Agreement)
shall be pursuant to the following Article 10(b)(ii) through (v) and (II)
the transferee of such Shares agrees in writing to assume the obligations of
and be bound by the terms and conditions of this Agreement, including,
without limitation, Article 19, and the Investor Rights Agreement;

          (C) if the Option Holder is not then party to the Investor Rights
Agreement or the Shares are not then subject to the restrictions set forth
therein, (x) pursuant to the following Article 10(b)(ii) through (v) or (y)
pursuant to Article 17 or Article 19; or

          (D) by will or by the laws of descent and distribution, but only if the
transferee of such Shares agrees in writing to assume the obligations of and
be bound by the terms and conditions of this Agreement, including, without
limitation, Article 19 and, if applicable, the Investor Rights Agreement

     (ii) Company Right of First Refusal. If the Option Holder
proposes to sell, transfer or otherwise dispose of any Shares, or of any

- 5 -

 

interest in such Shares, now or hereafter owned by the Option Holder,
to any person, whether voluntarily or by operation of law, other than
pursuant to Article 10(b)(i)(A), (B), (C)(y) or (D) of this Agreement, the
Option Holder shall first provide written notice (the “Offer
Notice”) to the Company, which notice must specify: (A) the name and
address of the party to which the Option Holder proposes to sell, transfer
or otherwise dispose of the Shares or an interest in the Shares (the
“Offeror”), (B) the number of Shares the Option Holder proposes to
sell, transfer or otherwise dispose of (the “Offered Shares”), (C)
the consideration per share which the Option Holder is seeking for the
proposed sale, transfer or disposition, and (D) all other material terms and
conditions of the proposed transaction, all of which must be bona fide. The
Company shall have the option to purchase all or any part of the Offered
Shares for the consideration per share and on the terms and conditions
specified in the Offer Notice (the “Company Option”). If the
Company wishes to exercise such option, it must do so by giving written
notice thereof to the Option Holder no later than 20 days after the Offer
Notice is given to the Company (the “Option Period”). The closing
of such purchase shall take place at the offices of the Company on the date
five business days after the expiration of the Option Period.
Notwithstanding the foregoing, if there is any dispute with respect to Fair
Market Value (defined below) and the provisions of the following Section
10(b)(iv) are invoked, the closing shall take place, as applicable, five
business days after the determination of Fair Market Value in accordance
with Section 10(b)(iv).

     (iii) To the extent the Company does not fully exercise the Company
Option within the Option Period, then the Option Holder shall consummate the
sale of the Offered Shares not purchased by the Company (such Shares are the
“Remaining Shares”) in accordance with all material terms and
conditions of the proposed transaction set forth in the Offer Notice, at any
time on or prior to 60 days after the expiration of the Option Period. If
the Option Holder is unable to so consummate such sale of the Remaining
Shares within such 60 day period, the Remaining Shares may not be sold by
the Option Holder (other than in accordance with Section 10(b)(i)(A), (B),
(C)(y) or (D)) without the giving of a new Offer Notice and the compliance
by the Option Holder with all the conditions and procedures in the Sections
10(b)(ii) through (v) hereof with respect to such proposed sale.

     (iv) To the extent that the consideration per share proposed by the
Offeror for the Offered Shares consists of property other than cash or a
promissory note, the consideration required to be paid by the Company in
exercising the Company Option may consist of cash per share equal to the
Fair Market Value of such property. For the purposes of this Section 10(b),
the “Fair Market Value” of such property shall be determined by
agreement of the Option Holder and the Company (the “Transaction
Parties”) within 20 days after the termination of the Option Period, or,

- 6 -

 

failing such agreement, the Fair Market Value shall be determined by
appraisal as follows:

(A) if the Transaction Parties agree upon an appraiser within
such 20 day period, then such appraiser’s appraisal shall
govern; or

(B) failing an agreement pursuant to the foregoing clause
(A), then, within 15 days after the lapse of such 20-day
period, each of the Transaction Parties, by notice to the
other, shall appoint one appraiser who shall be experienced
in the appraisal of the type of property to be appraised, and
then the two appraisers shall select a third appraiser whose
appraisal shall govern; or

(C) if either Transaction Party fails to appoint an appraiser
as provided in the foregoing clause (B), then the appraisal
by the appraiser appointed by the Transaction Party which
does appoint an appraiser shall govern.

     All appraisal reports shall be rendered in writing and shall be signed
by the governing appraiser, and the Transaction Parties shall use reasonable
efforts to cause such appraiser to render its appraisal report within 20
days after the date of its appointment. The costs of the appraisal shall be
shared equally between the Transaction Parties.

     (v) Unless otherwise agreed to in writing by the Company, after any
sale, assignment, transfer or disposition of Shares hereunder, such Shares
and the transferee thereof shall continue to be subject to Articles 10, 17,
19 and 20 hereof with respect to such Shares to the same extent as the
Option Holder would have been in the absence of such sale, assignment,
transfer or disposition. In addition, the Company may require, as a
condition to effectuating any such sale, assignment, transfer or disposition
of Shares, that such transferee agree in writing, in form acceptable to the
Company, that such Shares shall continue to be subject to Articles 10, 17,
19 and 20 hereof.

     11. No Obligation to Exercise Option. The grant and acceptance of this option imposes
no obligation on the Option Holder to exercise it.

     12. No Obligation to Maintain or Continue Business Relationship. The Company and any
Related Corporation (as defined in the Plan) are not by the Plan or this option agreement obligated
to maintain or continue a Business Relationship with the Option Holder.

     13. No Rights as Stockholder until Exercise. The Option Holder shall have no rights
as a stockholder with respect to Shares subject to this Agreement until a stock certificate
therefor has been issued to the Option Holder and is fully paid for. Except as is expressly
provided in the Plan with respect to certain changes in the capitalization of the Company, no
adjustment shall be

- 7 -

 

made for dividends or similar rights for which the record date is prior to the date such stock
certificate is issued.

     14. Capital Changes and Business Successions. The Plan contains provisions covering
the treatment of options in a number of contingencies such as stock splits, mergers and sales of
the Company’s stock or assets. Without limiting the applicability of Article 1, provisions in the
Plan for adjustment with respect to stock subject to options and the related provisions with
respect to successors to the business of the Company are hereby made applicable to this
Non-Qualified Stock Option Agreement and are incorporated herein by reference. In general, the
Option Holder should not assume that options necessarily would survive an acquisition of the
Company. In particular, without affecting the generality of the foregoing, it is understood that
for the purposes of Articles 3 through 5 hereof, a Business Relationship with the Company includes
a Business Relationship with a Related Corporation as defined in the Plan.

     15. [Reserved]

     16. Withholding Taxes. If the Company in its discretion determines that it is
obligated to withhold tax in connection with the exercise of this option, or in connection with the
transfer of, or the lapse of restrictions on, any Shares, the Option Holder hereby agrees that the
Company may withhold from the Option Holder’s compensation or other remuneration the appropriate
amount of federal, state and local withholding taxes attributable to such event. At the Company’s
discretion, the amount required to be withheld may be withheld in cash from such compensation or
other remuneration, or (with respect to compensation income attributable to the exercise of this
option) in kind from the Common Stock otherwise deliverable to the Option Holder (or other person
or persons) on exercise of this option. The Option Holder further agrees that, if the Company does
not withhold an amount from the Option Holder’s wages sufficient to satisfy the Company’s
withholding obligation, the Option Holder will reimburse the Company on demand, in cash, for the
amount underwithheld and that the Company may decline to issue the Shares issuable upon exercise of
the Option hereunder until provision satisfactory to the Company for such reimbursement has been
made.

     17. Drag Along Right.

          (a) Exercise of Right. If one or more persons who own in the aggregate 51% or more of
the then outstanding shares of Common Stock (including Common Stock issuable upon conversion of
outstanding preferred stock) of the Company (the “Majority Holders”) shall obtain from an
offeror (the “Offeror”) a bona fide arms’ length offer for a Change of Control Event, the
Majority Holders shall have the right to require, by written notice (the “Drag Along
Notice”), to any person who holds Shares pursuant to this Agreement (the “Notice
Recipient”} to cause all of the Shares acquired under this option to be transferred to the
Offeror, at the same per share purchase price (determined on an as-converted basis for preferred
stock but giving effect, however, to any liquidation preferences to which holders of such preferred
stock may be entitled) and payable in the same form of consideration as is being paid in respect of
the Common Stock being sold by the Majority Holders. If the sale to the Offeror has not occurred
within 180 days following the date of the Drag Along Notice, the Notice Recipient shall be released
from the Option Holder’s obligation under the Drag Along Notice, and it shall be necessary for a
new and separate Drag Along Notice to be furnished and the terms and

- 8 -

 

provisions of this Article 17 to be separately complied with in order to consummate such a
sale pursuant to this Article 17, unless the failure to complete such sale resulted from any
failure by the Notice Recipient. Each Notice Recipient shall take or cause to be taken all such
actions as may be reasonably requested in order to consummate a sale pursuant to this Article 17
expeditiously.

          (b) Voting; Proxies. Each Notice Recipient further agrees to vote, or grant proxies
to vote, all of the Notice Recipient’s Shares of capital stock of the Company in favor of any
Change of Control Event that is approved by the Majority Holders, provided that the price per share
and form of consideration paid in respect of the Shares held by the Notice Recipient is the same as
is paid with respect to other holders of Common Stock (determined on an as-converted basis for
preferred stock but giving effect, however, to any liquidation preferences to which holders of such
preferred stock may be entitled).

          (c) Adjustments for Changes in Capital Structure. If there shall be any change in
the, Common Stock of the Company through merger, consolidation, reorganization, recapitalization,
stock dividend, split-up, combination or exchange of shares, or the like, the provisions contained
in this Article 17 shall apply with equal force to additional and/or substitute securities, if any,
received by the Option Holder in exchange for, or by virtue of the Option Holder’s ownership of,
Shares.

          (d) Failure to Deliver Shares. If the Notice Recipient fails or refuses to deliver on
a timely basis duly endorsed certificates representing Shares to be sold pursuant to this Article
17, the Offeror shall have the right to deposit the purchase price for the Shares in a special
account with any bank or trust company in the Commonwealth of Massachusetts, giving notice of such
deposit to the Notice Recipient, whereupon such Shares shall be deemed to have been purchased by
the Offeror and such purchase shall be duly noted upon the books and records of the Company and all
the Notice Recipient’s rights in and to such Shares shall be terminated. All such monies shall be
held by the bank or trust company for the benefit of the Notice Recipient. All monies deposited
with the bank or trust company but remaining unclaimed for two (2) years after the date of deposit
shall be repaid by the bank or trust company to the Company on demand, and the Notice Recipient
shall thereafter look only to the Company for payment.

          (e) Expiration of Drag Along Right. The drag along right set forth above shall remain
in effect until the effective date of the Company’s Initial Public Offering (as defined in Article
20).

          (f) Investor Rights Agreement. Notwithstanding the foregoing, if the Option Holder is
then party to and the Shares are then subject to the drag along right set forth in the Investor
Rights Agreement, then the Option Holder shall be bound by the “drag along” provision set forth in
the Investor Rights Agreement in lieu of this Section 17.

     18. No Exercise of Option if Act of Misconduct Occurs. If there shall be made a
determination of past or present Misconduct on the part of the Option Holder, this option shall
terminate on the date of such determination and shall thereupon not be exercisable to any extent
whatsoever.

- 9 -

 

     19. Company’s right to Repurchase.

          (a) Exercise of Right. Upon the termination of the Option Holder’s Business
Relationship with the Company, at any time during the one hundred eighty (180) day period after the
later of the effective date of such termination and the date that the Company receives notice of
such termination (the “Repurchase Period”), the Company shall have the option, but not the
obligation, to repurchase all or any of the Shares acquired by the Option Holder upon exercise of
this option, from the Option Holder, or the Option Holder’s legal representatives, successors,
assigns or transferees, as the case may be (the “Repurchase Option”). The Repurchase
Option shall be exercised by the Company by giving the Option Holder, or the Option Holder’s legal
representative, written notice of its intention to exercise the Repurchase Option and the effective
date of such repurchase, which shall not be after the expiration of the Repurchase Period (the
“Exercise Notice”). If a determination of Misconduct is made by the Board pursuant to
Article 18, regardless of whether the Option Holder’s Business Relationship was terminated for such
Misconduct, then the price to be paid for the Shares by the Company under the Repurchase Option
shall be the option price of the Shares paid by the Option Holder. If there is no determination of
Misconduct, then such price shall be the greater of (i) the option price of the Shares paid by the
Option Holder and (ii) the fair market value of the Shares on the date of the Exercise Notice, as
determined by Paragraph 6(C) of the Plan. The applicable price shall be paid by the Company to the
Option Holder, or the Option Holder’s legal representative, in four (4) equal semi-annual
installments with the first such installment due six (6) months from the effective date of exercise
of the Repurchase Option. The Company may, in exercising the Repurchase Option, designate one or
more nominees to purchase the Shares either within or without the Company. No later than the
effective date set forth in the Exercise Notice, the Option Holder, or the Option Holder’s legal
representative, shall deliver to the Company the stock certificate or certificates representing the
Shares being repurchased, duly endorsed and free and clear of any and all liens, charges and
encumbrances.

     If Shares are not purchased under the Repurchase Option, the Option Holder and the Option
Holder’s successor in interest, if any, will hold any such Shares in the Option Holder’s possession
subject to all of the provisions of this Agreement.

          (b) Failure to Deliver Shares. If the Option Holder fails or refuses to deliver on a
timely basis duly endorsed certificates representing the Shares to be repurchased by the Company or
its nominee(s) pursuant to this Article 19, the Company shall have the right to deposit the
purchase price for such Shares in a special account with any bank or trust company in the
Commonwealth of Massachusetts, giving notice of such deposit to the Option Holder, whereupon such
Shares shall be deemed to have been purchased by the Company and such purchase shall be duly noted
upon the books and records of the Company and all Option Holder’s rights in and to such Shares
shall be terminated. All such monies shall be held by the bank or trust company for the benefit of
the Option Holder. All monies deposited with the bank or trust company but remaining unclaimed for
two (2) years after the date of deposit shall be repaid by the bank or trust company to the Company
on demand, and the Option Holder shall thereafter look only to the Company for payment; provided
further that the Company shall have and may exercise any and all other rights under law with
respect to recovery by the Company of such Shares or any proceeds thereof. The Company shall have
the right to recover all costs and

- 10 -

 

expenses suffered by the Company arising from Option Holder’s failure to deliver the Shares
under this Article 19, including reasonable legal counsel fees and costs, and other expenses.

     20. Lock-up Agreement. The Option Holder agrees that the Option Holder will not, for
a period of at least 180 days following the effective date of the Company’s initial or any other
distribution of securities in an underwritten public offering to the general public pursuant to a
registration statement filed with the Securities and Exchange Commission (such initial distribution
referred to as the “Initial Public Offering” and any other such distribution referred to as
a “Public Offering”), directly or indirectly, sell, pledge, hypothecate, transfer, offer to
sell or otherwise dispose of the Company’s securities other than any securities which are included
in such Initial Public Offering or a Public Offering. If the managing underwriter of any Initial
Public Offering or a Public Offering determines that a shorter time period is appropriate, the
aforementioned 180 day period may be shortened consistent with the requirements of such managing
underwriter. If the managing underwriter of any Initial Public Offering or a Public Offering
determines that a longer time period is appropriate and the officers and directors of the Company
are subject to such longer time period, the aforementioned 180 day period may be lengthened
consistent with the requirements of such managing underwriter.

     21. Provision of Documentation to Option Holder. By signing this Agreement the Option
Holder acknowledges receipt of a copy of this Agreement and a copy of the Company’s 2005 Stock
Incentive Plan.

     22. Governing Law. This Agreement shall be governed by and interpreted in accordance
with the internal laws of the State of Delaware.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

- 11 -

 

Gomez, Inc, Non-Qualified Stock Option Agreement Signature Page

     IN WITNESS WHEREOF the Company and the Option Holder have caused this instrument to be
executed, and the Option Holder whose signature appears below acknowledges receipt of a copy of the
plan and acceptance of an original copy of this Agreement.

	 	 	 	 	 	 	 	 	 	 	 
	OPTION HOLDER	 	 	 	GOMEZ, INC.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	/s/ Carl Pavarini
	 	 	 	By:
	 	/s/ Richard Brekka	 	 
	 	 	 	 	 	 	 	 	 
	Name:

	 	Carl Pavarini
	 	 	 	 	 	Name: Richard Brekka	 	 
	Address:

	 	76 Mountain Avenue
	 	 	 	 	 	Title: Chairman & Chief Executive Officer	 	 
	 

	 	Mendham, NJ 07945	 	 	 	 	 	 	 	 

- 12 -

 

Name of Option Holder: Carl Pavarini

Vesting Commencement Date: April 5, 2005

GOMEZ, INC.

Non-Qualified Stock Option Agreement — Director Option

     Gomez, Inc., a Delaware corporation (the “Company”), hereby grants as of September 15,
2005 , to Carl Pavarini (the “Option Holder”), in consideration of the Option Holder’s
continued Business Relationship (as defined below) with the Company, an option to purchase a
maximum of 45,734 shares (individually, a “Share”, and collectively, the “Shares”)
of its Common Stock, $.001 par value (the “Common Stock”), at the price of $0.825 per Share
on the following terms and conditions:

     1. Grant Under 2005 Stock Incentive Plan. This option is granted pursuant to and is
governed by the Company’s 2005 Stock Incentive Plan (the “Plan”) and, unless the context
otherwise requires, terms used herein shall have the same meaning as in the Plan. Determinations
made in connection with this option pursuant to the Plan shall be governed by the Plan.

     2. Grant as Non-Qualified Stock Option; Other Options; Revisions to Letter Agreement.
This option is granted as a non-qualified option and is not intended to qualify as an incentive
stock option under Section 422(b) of the Internal Revenue Code of 1986 (the “Code”). This
option is in addition to any other options heretofore or hereafter granted to the Option Holder by
the Company. A duplicate original of this instrument shall not effect the grant of another option.
The Company and the Option Holder agree and acknowledge that this Agreement is in fill
satisfaction of the Company’s obligation to grant Option Holder an option pursuant to Section 1 of
that certain letter agreement entered into by and between the Company and the Option Holder as of
May 30, 2005, and that the terms herein supersede any and all terms related to such option in such
letter agreement.

     3. Vesting.

          (a) Vesting, if Business Relationship Continues. If the Option Holder has continued a
Business Relationship with the Company on the applicable dates, the Option Holder may exercise this
option for the following number of Shares: (a) as to one-quarter (1/4) of the Shares, on the first
anniversary of the Vesting Commencement Date; and (b) as to the remaining three-quarters (3/4) of
the Shares, in 36 equal monthly installments beginning on the first day of the first month
following the first anniversary of the Vesting Commencement Date. The foregoing rights are
cumulative and, while the Option Holder continues a Business Relationship with the Company, may be
exercised on or before ten years from date hereof (the “Scheduled Expiration Date”). All
of the foregoing rights are subject to Articles 4 and 5, as appropriate, if the Option Holder
ceases to maintain a Business Relationship with the Company or dies or becomes disabled in the
course of such Business Relationship with the Company.

          (b) Accelerated Vesting Due to Change of Control Event. In the event a Change of
Control Event that is not a Private Transaction occurs while the Option Holder maintains a Business
Relationship with the Company and the Option Holder has options to

 

 

purchase Shares still subject to vesting, then all of the then number of unvested Shares
shall, immediately prior to such Change of Control Event, become vested.

          (c) Parachute Payments. If, in connection with an acceleration of unvested options
pursuant to Article 3(b) above, a tax under Section 4999 of the Code would be imposed on the Option
Holder (after taking into-account the exceptions set forth in Sections 280G(b)(4) and 280G(b)(5) of
the Code), and the Option Holder, on an after-tax basis (taking into account such tax) would
receive greater net compensation by not having any or all of such Stock Rights accelerate, then at
the discretion of the Committee, the number of Shares of the Option Holder which shall become
immediately vested as provided in Article 3(b) above may be reduced (or delayed), to the extent
necessary to maximize such net compensation. For purposes of determining “net compensation”, the
amount of compensation considered to be realized by the Option Holder as a result of such
acceleration shall be determined in accordance with the principles set forth in the Treasury
Regulations under Section 280G of the Code for determining the amount of any “parachute payment”
resulting from the acceleration of vesting of restricted stock, a stock option or any other
unvested stock right.

          (d) Definitions.

     “Business Relationship” means service to the Company or its successor in the
capacity of a director.

     “Change of Control Event” means (1) a merger or consolidation of the Company
into or with any other person or persons who are not affiliates of the Company following
which more than 50% of the voting power of the surviving entity is held, directly or
indirectly, by persons who were not stockholders of the Company or affiliates thereof prior
to the consummation of such transaction or (2) a single transaction or a series of
transactions pursuant to which a person or persons who are not affiliates of the Company
prior to such transaction or transactions acquire either of the following: (i) capital stock
of the Company possessing the voting power to elect a majority of the Company’s board of
directors (whether by merger, consolidation or sale or transfer of the Company’s capital
stock), except that any acquisition of securities directly from the Company shall be
disregarded for purposes of this clause (i); or (ii) all or substantially all of the
Company’s assets determined on a consolidated basis.

     “Private Transaction” means any Change of Control Event where the consideration
received or retained by the holders of the then outstanding capital stock of the Company
does not consist of (i) cash or cash equivalent consideration, (ii) securities which are
registered under the Securities Act of 1933, as amended (the “Act”) and/or (iii)
securities for which the Company or any other issuer thereof has agreed, including pursuant
to a demand, to file a registration statement within ninety (90) days of completion of the
transaction for resale to the public pursuant to the Act.

     “Misconduct” means any one or more of the following: (i) the commission of an
act of embezzlement, fraud or dishonesty, (ii) the deliberate disregard of the rules or
policies of the Company which results in material loss, damage or injury to the Company,
whether directly or indirectly, (iii) the unauthorized disclosure of any trade secret or

- 2 -

 

confidential information of the Company, (iv) the breach by the Option Holder of any
agreement with the Company, including without limitation any noncompetition agreement
between the Option Holder and the Company, or (v) the willful failure by the Option Holder
to perform such Option Holder’s material responsibilities as part of the Business
Relationship with the Company. In making such determination, the Board shall act fairly and
in good faith.

     4. Termination of Business Relationship. Subject to the provisions of Article 18, if
the Option Holder ceases to maintain a Business Relationship with the Company, other than by reason
of death or disability as defined in Article 5, no further installments of this option shall become
exercisable following the date of such cessation of such Business Relationship and this option
shall terminate after the passage of 30 days from the date such Business Relationship ceases, but
in no event later than the Scheduled Expiration Date. In such a case, the Option Holder’s only
rights hereunder shall be those which are properly exercised before the termination of this option.

     5. Death; Disability. If the Option Holder dies while in a Business Relationship with
the Company, this option may be exercised, to the extent of the number of Shares with respect to
which the Option Holder could have exercised it on the date of the Option Holder’s death, by the
Option Holder’s estate, personal representative or beneficiary to whom this option has been
assigned pursuant to Article 10, at any time within one (1) year after the date of death, but not
later than the Scheduled Expiration Date. If the Option Holder ceases to maintain a Business
Relationship with the Company by reason of the Option Holder’s “disability” (as defined in the
Plan), this option may be exercised, to the extent of the number of Shares with respect to which
the Option Holder could have exercised it on the date of the termination of the Option Holder’s
Business Relationship, at any time within one (I) year after such termination, but not later than
the Scheduled Expiration Date. At the expiration of such one year period or the Scheduled
Expiration Date, whichever is earlier, this option shall terminate and the only rights hereunder
shall be those as to which the option was properly exercised before such termination.

     6. Partial Exercise; Exercise of this option up to the extent above stated may be made
in part at any time and from time to time within the above limits, except that this option may not
be exercised for a fraction of a share. Any fractional share with respect to which an installment
of this option cannot be exercised because of the limitation contained in the preceding sentence
shall remain subject to this option and shall be available for later purchase by the Option Holder
in accordance with the terms hereof.

     7. Payment of Price. The option price is payable in United States dollars and may be
paid either (i) in cash, (ii) by check, (iii) if the Company so agrees in writing, by delivery of
an irrevocable and unconditional undertaking, satisfactory in form and substance to the Company, by
a creditworthy broker to deliver promptly to the Company sufficient funds to pay the exercise
price, or delivery by the Option Holder to the Company of a copy of irrevocable and unconditional
instructions, satisfactory in form and substance to the Company, to a creditworthy broker to
deliver promptly to the Company cash or a check sufficient to pay the exercise price, or (iv) if
the Company so agrees in writing, by any combination of the foregoing, equal in amount to the
option price.

- 3 -

 

     8. Agreement to Purchase for Investment. By acceptance of this option, the Option
Holder agrees that a purchase of Shares under this option will not be made with a view to their
distribution, as that term is used in the Act, and that the Option Holder will not sell, transfer,
pledge or otherwise dispose of such Shares unless in the opinion of counsel to the Company such
sale, transfer, pledge or other disposition is in compliance with or exempt from the registration
and prospectus requirements of the Act. Furthermore, the Option Holder agrees to sign a
certificate to the foregoing effect at the time of exercising this option and agrees that the
certificate for the Shares so purchased maybe inscribed with a legend to ensure compliance with
this Article 8, and the Act, as well as with Article 10, Article 17, Article 19 and Article 20,
which legend may be substantially in the following form or in such other form as may be
satisfactory to the Company:

THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ACQUIRED FOR
INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED (THE “ACT”) OR THE SECURITIES LAWS OF ANY STATE AND
MAY NOT BE SOLD OR TRANSFERRED EXCEPT PURSUANT TO A REGISTRATION
UNDER THE ACT OR AN EXEMPTION THEREFROM.

ANY SALE, ASSIGNMENT, TRANSFER OR OTHER DISPOSITION OF THE SHARES
REPRESENTED BY THIS CERTIFICATE IS RESTRICTED BY, AND SUBJECT TO,
THE TERMS AND PROVISIONS OF A CERTAIN NON-QUALIFIED STOCK OPTION
AGREEMENT BETWEEN THE COMPANY AND THE OPTION HOLDER (AS DEFINED IN
SUCH AGREEMENT) CONTAINING PROVISIONS RELATING, INTER-ALIA,
TO RESTRICTIONS ON TRANSFER, DRAG-ALONG RIGHTS AND RIGHTS OF
REPURCHASE. A COPY OF SAID AGREEMENT IS ON FILE WITH THE SECRETARY
OF THE COMPANY.

     9. Method of Exercising Option. Subject to the terms and conditions of this
Agreement, this option may be exercised by written notice to the Company, at the principal
executive office of the Company, or to such transfer agent as the Company shall designate. Such
notice shall state the election to exercise this option and the number of Shares in respect of
which it is being exercised and shall be signed by the person or persons so exercising this option.
If the method of payment for the Shares is described in paragraph (i), (ii) or (iv) of Article 7,
such notice shall be accompanied by payment of the full purchase price of such Shares. The Company
shall deliver a certificate or certificates representing such Shares as soon as practicable after
the notice shall be received. The certificate or certificates for the Shares as to which this
option shall have been so exercised shall be registered in the name of the person or persons so
exercising this option (or, if this option shall be exercised by the Option Holder and if the
Option Holder shall so request in the notice exercising this option, shall be registered in the
name of the Option Holder and another person jointly, with right of survivorship) and shall be
delivered as provided above to or upon the written order of the person or persons exercising this
option. In the event this option shall be exercised, pursuant to Article 5 hereof, by any person
or persons

- 4 -

 

other than the Option Holder, such notice shall be accompanied by appropriate proof of the
right of such person or persons to exercise this option. All Shares that shall be purchased upon
the exercise of this option as provided herein shall be fully paid and non-assessable.

     10. Transfer Restrictions.

          (a) Restriction on Transfer/Exercise of Option. This option is not transferable or
assignable except by will or by the laws of descent and distribution, except with the prior written
consent of the Company. During the Option Holder’s lifetime only the Option Holder can exercise
this option.

          (b) Restriction on Transfer of Shares.

     (i) The Option Holder may not sell, assign, transfer or otherwise
dispose of any Shares at any time prior to the effective date of an Initial
Public Offering (as defined in, and further subject to, the provisions of
Article 20), except:

          (A) with the prior written consent of and subject to such conditions as
may be imposed by the Board;

          (B) if the Option Holder is then party to, and the Shares are then
subject to, the restrictions set forth in the Fourth Amended and Restated
Investor Rights Agreement, by and among the Company and the several
stockholder parties thereto from time to time (as the same may be amended,
restated or otherwise modified from time to time, the “Investor Rights
Agreement”), in accordance with the Investor Rights Agreement, provided
that (I) any sale, assignment or transfer of Shares that are “Residual
Shares” (as defined in Section 3.1(c) of the. Investor Rights Agreement)
shall be pursuant to the following Article 10(b)(ii) through (v) and (II)
the transferee of such Shares agrees in writing to assume the obligations of
and be bound by the terms and conditions of this Agreement, including,
without limitation, Article 19, and the Investor Rights Agreement;

          (C) if the Option Holder is not then party to the Investor Rights
Agreement or the Shares are not then subject to the restrictions set forth
therein, (x) pursuant to the following Article l0(b)(ii) through (v) or (y)
pursuant to Article 17 or Article 19; or

          (D) by will or by the laws of descent and distribution, but only if the
transferee of such Shares agrees in writing to assume the obligations of and
be bound by the terms and conditions of this Agreement, including, without
limitation, Article 19 and, if applicable, the Investor Rights Agreement.

     (ii) Company Right of First Refusal. If the Option Holder
proposes to sell, transfer or otherwise dispose of any Shares, or of any

- 5 -

 

interest in such Shares, now or hereafter owned by the Option Holder,
to any person, whether voluntarily or by operation of law, other than
pursuant to Article 10(b)(i)(A), (B), (C)(y) or (D) of this Agreement, the
Option Holder shall first provide written notice (the “Offer
Notice”) to the Company, which notice must specify: (A) the name and
address of the party to which the Option Holder proposes to sell, transfer
or otherwise dispose of the Shares or an interest in the Shares (the
“Offeror”), (B) the number of Shares the Option Holder proposes to
sell, transfer or otherwise dispose of (the “Offered Shares”), (C)
the consideration per share which the Option Holder is seeking for the
proposed sale, transfer or disposition, and (D) all other material terms and
conditions of the proposed transaction, all of which must be bona fide. The
Company shall have the option to purchase all or any part of the Offered
Shares for the consideration per share and on the terms and conditions
specified in the Offer Notice (the “Company Option”). If the
Company wishes to exercise such option, it must do so by giving written
notice thereof to the Option Holder no later than 20 days after the Offer
Notice is given to the Company (the “Option Period”). The closing
of such purchase shall take place at the offices of the Company on the date
five business days after the expiration of the Option Period.
Notwithstanding the foregoing, if there is any dispute with respect to Fair
Market Value (defined below) and the provisions of the following Section
l0(b)(iv) are invoked, the closing shall take place, as applicable, five
business days after the determination of Fair Market Value in accordance
with Section 10(b)(iv).

     (iii) To the extent the Company does not fully exercise the Company
Option within the Option Period, then the Option Holder shall consummate the
sale of the Offered Shares not purchased by the Company (such Shares are the
“Remaining Shares”) in accordance with all material terms and
conditions of the proposed transaction set forth in the Offer Notice, at any
time on or prior to 60 days after the expiration of the Option Period. If
the Option Holder is unable to so consummate such sale of the Remaining
Shares within such 60 day period, the Remaining Shares may not be sold by
the Option Holder (other than in accordance with Section 10(b)(i)(A), (B),
(C)(y) or (D) without the giving of a new Offer Notice and the compliance by
the Option Holder with all the conditions and procedures in the Sections
10(b)(ii) through (v) hereof with respect to such proposed sale.

     (iv) To the extent that the consideration per share proposed by the
Offeror for the Offered Shares consists of property other than cash or a
promissory note, the consideration required to be paid by the Company in
exercising the Company Option may consist of cash per share equal to the
Fair Market Value of such property. For the purposes of this Section 10(B),
the “Fair Market Value” of such property shall be determined by
agreement of the Option Holder and the Company (the “Transaction
Parties”) within 20 days after the termination of the Option Period, or,

- 6 -

 

failing such agreement, the Fair Market Value shall be determined by
appraisal as follows:

(A) if the Transaction Parties agree upon an appraiser within
such 20 day period, then such appraiser’s appraisal shall
govern; or

(B) failing an agreement pursuant to the foregoing clause
(A), then, within 15 days after the lapse of such 20-day
period, each of the Transaction Parties, by notice to the
other, shall appoint one appraiser who shall be experienced
in the appraisal of the type of property to be appraised, and
then the two appraisers shall select a third appraiser whose
appraisal shall govern; or

(C) if either Transaction Party fails to appoint an appraiser
as provided in the foregoing clause (B), then the appraisal
by the appraiser appointed by the Transaction Party which
does appoint an appraiser shall govern.

     All appraisal reports shall be rendered in writing and shall be signed
by the governing appraiser, and the Transaction Parties shall use reasonable
efforts to cause such appraiser to render its appraisal report within 20
days after the date of its appointment. The costs of the appraisal shall be
shared equally between the Transaction Parties.

     (v) Unless otherwise agreed to in writing by the Company, after any
sale, assignment, transfer or disposition of Shares hereunder, such Shares
and the transferee thereof shall continue to be subject to Articles 10, 17,
19 and 20 hereof with respect to such Shares to the same extent as the
Option Holder would have been in the absence of such sale, assignment,
transfer or disposition. In addition, the Company may require, as a
condition to effectuating any such sale, assignment, transfer or disposition
of Shares, that such transferee agree in writing, in form acceptable to the
Company, that such Shares shall continue to be subject to Articles 10, and
20 hereof.

     11. No Obligation to Exercise Option. The grant and acceptance of this option imposes
no obligation on the Option Holder to exercise it.

     12. No Obligation to Maintain or Continue Business Relationship. The Company and any
Related Corporation (as defined in the. Plan) are not by the Plan or this option agreement
obligated to maintain or continue a Business Relationship with the Option Holder.

     13. No Rights as Stockholder until Exercise. The Option Holder shall have no rights
as a stockholder with respect to Shares subject to this Agreement until a stock certificate
therefor has been issued to the Option Holder and is fully paid for. Except as is expressly
provided in the Plan with respect to certain changes in the capitalization of the Company, no
adjustment shall be

- 7 -

 

made for dividends or similar rights for which the record date is prior to the date such stock
certificate is issued.

     14. Capital Changes and Business Successions. The Plan contains provisions covering
the treatment of options in a number of contingencies such as stock splits, mergers and sales of
the Company’s stock or assets, without limiting the applicability of Article 1, provisions in the
Plan for adjustment with respect to stock subject to options and the related provisions with
respect to successors to the business of the Company are hereby made applicable to this
Non-Qualified Stock Option Agreement and are incorporated herein by reference. In general, the
Option Holder should not assume that options necessarily would survive an acquisition of the
Company. In particular, without affecting the generality of the foregoing, it is understood that
for the purposes of Articles 3 through 5 hereof, a Business Relationship with the Company includes
a Business Relationship with a Related Corporation as defined in the Plan.

     15. [Reserved]

     16. Withholding Taxes. If the Company in its discretion determines that it is
obligated to withhold tax in connection with the exercise of this option, or in connection with the
transfer of, or the lapse of restrictions on, any Shares, the Option Holder hereby agrees that the
Company may withhold from the Option Holder’s compensation or other remuneration the appropriate
amount of federal, state and local withholding taxes attributable to such event. At the Company’s
discretion, the amount required to be withheld may be withheld in cash from such compensation or
other remuneration, or (with respect to compensation income attributable to the exercise of this
option) in kind from the Common Stock otherwise deliverable to the Option Holder (or other person
or persons) on exercise of this option. The Option Holder further agrees that, if the Company does
not withhold an amount from the Option Holder’s wages sufficient to satisfy the Company’s
withholding obligation, the Option Holder will reimburse the Company on demand, in cash, for the
amount underwithheld and that the Company may decline to issue the Shares issuable upon exercise of
the Option hereunder until provision satisfactory to the Company for such reimbursement has been
made.

     17. Drag Along Right.

          (a) Exercise of Right. If one or more persons who own in the aggregate 51% or more of
the then outstanding shares of Common Stock (including Common Stock issuable upon conversion of
outstanding preferred stock) of the Company (the “Majority Holders”) shall obtain from an
offeror (the “Offeror”) a bona fide arms’ length offer for a Change of Control Event, the
Majority Holders shall have the right to require, by written notice (the “Drag Along
Notice”), to any person who holds Shares pursuant to this Agreement (the “Notice
Recipient”) to cause all of the Shares acquired under this option to be transferred to the
Offeror, at the same per share purchase price (determined on an as-converted basis for preferred
stock but giving effect, however, to any liquidation preferences to which holders of such preferred
stock may be entitled) and payable in the same form of consideration as is being paid in respect of
the Common Stock being sold by the Majority Holders. If the sale to the Offeror has not occurred
within 180 days following the date of the Drag Along Notice, the Notice Recipient shall be released
from the Option Holder’s obligation under the Drag Along Notice, and it shall be necessary for a
new and separate Drag Along Notice to be furnished and the terms and

- 8 -

 

provisions of this Article 17 to be separately complied with in order to consummate such a
sale pursuant to this Article 17, unless the failure to complete such sale resulted from any
failure by the Notice Recipient. Each Notice Recipient shall take or cause to be taken all such
actions as may be reasonably requested in order to consummate a sale pursuant to this Article 17
expeditiously.

          (b) Voting; Proxies. Each Notice Recipient further agrees to vote, or grant proxies
to vote, all of the Notice Recipient’s Shares of capital stock of the Company in favor of any
Change of Control Event that is approved by the Majority Holders, provided that the price per share
and form of consideration paid in respect of the Shares held by the Notice Recipient is the same as
is paid with respect to other holders of Common Stock (determined on an as-converted basis for
preferred stock but giving effect, however, to any liquidation preferences to which holders of such
preferred stock may be entitled).

          (c) Adjustments for Changes in Capital Structure. If there shall be any change in the
Common Stock of the Company through merger, consolidation, reorganization, recapitalization, stock
dividend, split-up, combination or exchange of shares, or the like, the provisions contained in
this Article 17 shall apply with equal force to additional and/or substitute securities, if any,
received by the Option Holder in exchange for, or by virtue of the Option Holder’s ownership of,
Shares.

          (d) Failure to Deliver Shares. If the Notice Recipient fails or refuses to deliver on
a timely basis duly endorsed certificates representing Shares to be sold pursuant to this Article
17, the Offeror shall have the right to deposit the purchase price for the Shares in a special
account with any bank or trust company in the Commonwealth of Massachusetts, giving notice of such
deposit to the Notice Recipient, whereupon such Shares shall be deemed to have been purchased by
the Offeror and such purchase shall be duly noted upon the books and records of the Company and all
the Notice Recipient’s rights in and to such Shares shall be terminated. All such monies shall be
held by the bank or trust company for the benefit of the Notice Recipient. All monies deposited
with the bank or trust company but remaining unclaimed for two (2) years after the date of deposit
shall be repaid by the bank or trust company to the Company on demand, and the Notice Recipient
shall thereafter look only to the Company for payment.

          (e) Expiration of Drag Along Right. The drag along right set forth above shall remain
in effect until the effective date of the Company’s Initial Public Offering (as defined in Article
20).

          (f) Investor Rights Agreement. Notwithstanding the foregoing, if the Option Holder is
then party to and the Shares are then subject to the drag along right set forth in the Investor
Rights Agreement, then the Option Holder shall be bound by the “drag along” provision set forth in
the Investor Rights Agreement in lieu of this Section 17.

     18. No Exercise of Option if Act of Misconduct Occurs. If there shall be made a
determination of past or present Misconduct on the part of the Option Holder, this option shall
terminate on the date of such determination and shall thereupon not be exercisable to any extent
whatsoever.

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     19. Company’s Right of Repurchase.

          (a) Exercise of Right. Upon the termination of the Option Holder’s Business
Relationship with the Company, at any time during the one hundred eighty (180) day period after the
later of the effective date of such termination and the date that the Company receives notice of
such termination (the “Repurchase Period”), the Company shall have the option, but not the
obligation, to repurchase all or any of the Shares acquired by the Option Holder upon exercise of
this option, from the Option Holder, or the Option Holder’s legal representatives, successors,
assigns or transferees, as the case may be (the “Repurchase Option”). The Repurchase
Option shall be exercised by the Company by giving the Option Holder, or the Option Holder’s legal
representative, written notice of its intention to exercise the Repurchase Option and the effective
date of such repurchase, which shall not be after the expiration of the Repurchase Period (the
“Exercise Notice”). If a determination of Misconduct is made by the Board pursuant to
Article 18, regardless of whether the Option Holder’s Business Relationship was terminated for such
Misconduct, then the price to be paid for the Shares by the Company under the Repurchase Option
shall be the option price of the Shares paid by the Option Holder. If there is no determination of
Misconduct, then such price shall be the greater of (i) the option price of the Shares paid by the
Option Holder and (ii) the fair market value of the Shares on the date of the Exercise Notice, as
determined by Paragraph 6(C) of the Plan. The applicable price shall be paid by the Company to the
Option Holder, or the Option Holder’s legal representative, in four (4) equal semi-annual
installments with the first such installment due six (6) months from the effective date of exercise
of the Repurchase Option. The Company may, in exercising the Repurchase Option, designate one or
more nominees to purchase the Shares either within or without the Company. No later than the
effective date set forth in the Exercise Notice, the Option Holder, or the Option Holder’s legal
representative, shall deliver to the Company the stock certificate or certificates representing the
Shares being repurchased, duly endorsed and free and clear of any and all liens, charges and
encumbrances.

     If Shares are not purchased under the Repurchase Option, the Option Holder and the Option
Holder’s successor in interest, if any, will hold any such Shares in the Option Holder’s possession
subject to all of the provisions of this Agreement.

          (b) Failure to Deliver Shares. If the Option Holder fails or refuses to deliver on a
timely basis duly endorsed certificates representing the Shares to be repurchased by the Company or
its nominee(s) pursuant to this Article 19, the Company shall have the right to deposit the
purchase price for such Shares in a special account with any bank or trust company in the
Commonwealth of Massachusetts, giving notice of such deposit to the Option Holder, whereupon such
Shares shall be deemed to have been purchased by the Company and such purchase shall be duly noted
upon the books and records of the Company and all Option Holder’s rights in and to such Shares
shall be terminated. All such monies shall be held by the bank or trust company for the benefit of
the Option Holder. All monies deposited with the bank or trust company but remaining unclaimed for
two (2) years after the date of deposit shall be repaid by the bank or trust company to the Company
on demand, and the Option Holder shall thereafter look only to the Company for payment; provided
further that the Company shall have and may exercise any and all other rights under law with
respect to recovery by the Company of such Shares or any proceeds thereof. The Company shall have
the right to recover all costs and

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expenses suffered by the Company arising from Option Holder’s failure to deliver the Shares
under this Article 19, including reasonable legal counsel fees and costs, and other expenses.

     20. Lock-up Agreement. The Option Holder agrees that the Option Holder will not, for
a period of at least 180 days following the effective date of the Company’s initial or any other
distribution of securities in an underwritten public offering to the general public pursuant to a
registration statement filed with the Securities and Exchange Commission (such initial distribution
referred to as the “Initial Public Offering” and any other such distribution referred to as
a “Public Offering”), directly or indirectly, sell, pledge, hypothecate, transfer, offer to
sell or otherwise dispose of the Company’s securities other than any securities which are included
in such Initial Public Offering or a Public Offering. If the managing underwriter of any Initial
Public Offering or a Public Offering determines that a shorter time period is appropriate, the
aforementioned 180 day period may be shortened consistent with the requirements of such managing
underwriter. If the managing underwriter of any Initial Public Offering or a Public Offering
determines that a longer time period is appropriate and the officers and directors of the Company
are subject to such longer time period, the aforementioned 180 day period may be lengthened
consistent with the requirements of such managing underwriter.

     21. Provision of Documentation to Option Holder. By signing this Agreement the Option
Holder acknowledges receipt of a copy of this Agreement and a copy of the Company’s 2005 Stock
Incentive Plan.

     22. Governing Law. This Agreement shall be governed by and interpreted in accordance
with the internal laws of the State of Delaware.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

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Gomez, Inc. Non-Qualified Stock Option Agreement Signature Page

     IN WITNESS WHEREOF the Company and the Option Holder have caused this instrument to be
executed, and the Option Holder whose signature appears below acknowledges receipt of a copy of the
Plan and acceptance of an original copy of this Agreement.

	 	 	 	 	 	 	 	 	 	 	 
	OPTION HOLDER	 	 	 	GOMEZ, INC.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	/s/ Carl Pavarini
	 	 	 	By:
	 	/s/ Richard Brekka	 	 
	 	 	 	 	 	 	 	 	 
	Name:

	 	Carl Pavarini
	 	 	 	 	 	Name: Richard Brekka	 	 
	Address:

	 	76 Mountain Avenue
	 	 	 	 	 	Title: Chairman & Chief Executive Officer	 	 
	 

	 	Mendham, NJ 07945	 	 	 	 	 	 	 	 

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