Document:

exv4w12

 

Exhibit 4.12

2005 Incentive Compensation Plan 

Nonqualified Stock Option Award 

Agreement—Nonemployee Director

La Quinta Corporation

 

La Quinta Corporation

2005 Incentive Compensation Plan

Nonqualified Stock Option Award Agreement—

Nonemployee Director

     You have been selected to receive a grant of a Nonqualified Stock Option pursuant to
the La Quinta Corporation 2005 Incentive Compensation Plan (the “Plan”), as specified below:

	 	 	 	 	 
	Participant:	 	 	 	 
	 	 	 	 	 

	 	 	 	 	 
	Date of Grant:	 	 	 	 
	 	 	 	 	 

	 	 	 	 	 
	Number of Paired Shares Covered by This Option:	 	 
	 	 	 	 	 

	 	 	 	 	 
	Option Price:	 	 	 	 
	 	 	 	 	 

	 	 	 	 	 
	Date of Expiration:	 	 	 	 
	 	 	 	 

	 	 	 	 	 
	Vesting of Stock Option:	 	 	 	 

	 	 	 
	 	 	Percent of
	Vesting Date	 	Option Vesting
	 
	 
	 	 
	Date of Grant
	 	100%
	 
	 	 
	 

     THIS AGREEMENT, effective as of the Date of Grant set forth above, represents the grant
of a Nonqualified Stock Option by La Quinta Corporation, a Delaware corporation (the “Company”), to
the Participant named above, pursuant to the provisions of the Plan. The shares granted by this
Agreement consist of common stock of the Company and an equal number of shares of Class B common
stock of La Quinta Properties, Inc., which are paired and traded as one unit, as is indicated above
(“Paired Shares”).

     The Plan provides a complete description of the terms and conditions governing this Option. If
there is any inconsistency between the terms of this Agreement and the terms of the Plan, the
Plan’s terms shall completely supersede and replace the conflicting terms of this Agreement. All
capitalized terms shall have the meanings ascribed to them in the Plan, unless specifically set
forth otherwise herein. The parties hereto agree as follows:

     1. Grant of Stock Option. The Company hereby grants to the Participant an Option to purchase
the number of Paired Shares set forth above, at the stated Option Price, which is one hundred
percent (100%) of the Fair Market Value of a Paired Share on the Date of Grant, in the manner and
subject to the terms and conditions of the Plan and this Agreement.

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     2. Exercise of Stock Option. Except as hereinafter provided, the Participant may exercise this
Option at any time after the Option vests (according to the vesting schedule set forth above),
provided that no exercise may occur subsequent to the close of business on the Date of Expiration
(as defined on page 1 of this Agreement). This Option may be exercised in whole or in part, but not
for less than one hundred (100) Paired Shares at any one time, unless fewer than one hundred (100)
Paired Shares then remain subject to the Option, and the Option is then being exercised as to all
such remaining Paired Shares.

     3. Restrictions on Transfer. This Option may not be sold, transferred, pledged, assigned, or
otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution.
Further, this Option shall be exercisable during the Participant’s lifetime only by the Participant
or the Participant’s legal representative.

     4. Recapitalization. In the event of any change in the capitalization of the Company such as a
stock split or a corporate transaction such as any merger, consolidation, separation, or otherwise,
the number and class of Paired Shares subject to this Option, as well as the Option Price, may be
equitably adjusted by the Committee, in its sole discretion, to prevent dilution or enlargement of
rights.

     5. Procedure for Exercise of Option. This Option may be exercised by delivery of written
notice to the Company at its executive offices, addressed to the attention of its Secretary. Such
notice: (a) shall be signed by the Participant or his or her legal representative; (b) shall
specify the number of full Paired Shares then elected to be purchased with respect to the Option;
and (c) shall be accompanied by payment in full of the Option Price of the Paired Shares to be
purchased.

     The Option Price upon exercise of this Option shall be payable to the Company in full either:
(a) in cash or its equivalent (acceptable cash equivalents shall be determined at the sole
discretion of the Committee); (b) by check payable to the order of the Company; or (c) by tendering
previously acquired Paired Shares having an aggregate Fair Market Value at the time of exercise
equal to the total Option Price (provided that the Paired Shares which are tendered must have been
held by the Participant for at least six (6) months prior to their tender and are not subject to
restrictions under any plan of the Company to satisfy the Option Price); or (d), by a combination
of (a), (b), or (c).

     In the event the Participant chooses to pay the purchase price by previously owned Paired
Shares through the attestation method, subject to restrictions that may be applied by the Committee
from time to time, the number of Paired Shares issued to the Participant upon the exercise of the
Option shall be net of the Paired Shares attested to.

     Subject to the approval of the Committee, and to the extent permitted by law, the Participant
may be permitted to exercise pursuant to a “cashless exercise” procedure, as permitted under
Federal Reserve Board’s Regulation T, subject to securities laws restrictions, or by any other
means which the Committee, in its sole discretion, determines to be consistent with the Plan’s
purpose and applicable law.

     As promptly as practicable after receipt of notice and payment upon exercise, the Company
shall cause the Participant’s name to be entered as the shareholder of record on the books of the
Company. If certificates are issued and delivered to the Participant or his or her legal
representative, as the case

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may be, certificates for the Paired Shares so purchased, may, if appropriate, be endorsed with
appropriate restrictive legends. The book entry and/or Paired Share certificates shall be posted
and/or issued in the Participant’s name. The Company shall maintain a record of all information
pertaining to the Participant’s rights under this Agreement, including the number of Paired Shares
for which his or her Option is exercisable.

     Paired Shares issued upon exercise of this Option are subject to all restrictions on transfer
imposed by the Company’s and La Quinta Properties, Inc.’s Certificate of Incorporation or By-Laws
or by applicable state or federal securities laws.

     6. Beneficiary Designation. The Participant may, from time to time, name any beneficiary or
beneficiaries (who may be named contingently or successively) to whom any benefit under this
Agreement is to be paid in case of his or her death before he or she receives any or all of such
benefit. Each such designation shall revoke all prior designations by the Participant, shall be in
a form prescribed by the Company, and will be effective only when filed by the Participant in
writing with the Director of Human Resources of the Company during the Participant’s lifetime. In
the absence of any such designation, benefits remaining unpaid at the Participant’s death shall be
paid to the Participant’s estate.

     7. Rights as a Stockholder. The Participant shall have no rights as a stockholder of the
Company with respect to the Paired Shares subject to this Agreement until such time as the purchase
price has been paid, and the Paired Shares have been issued and delivered to him or her.

     8. Miscellaneous.

	 	(a)  	This Agreement and the rights of the Participant hereunder are subject
to all the terms and conditions of the Plan, as the same may be amended from time
to time, as well as to such rules and regulations as the Committee may adopt for
administration of the Plan. The Committee shall have the right to impose such
restrictions on any Paired Shares acquired pursuant to the exercise of this Option,
as it may deem advisable, including, without limitation, restrictions on transfers
imposed by the Company’s and La Quinta Properties, Inc.’s Certificate of
Incorporation, By-Laws, and insider trading policies as in effect from time to
time, or under applicable federal securities laws, under the requirements of any
stock exchange or market upon which such Paired Shares are then listed and/or
traded, and under any blue sky or state securities laws applicable to such Paired
Shares. It is expressly understood that the Committee is authorized to administer,
construe, and make all determinations necessary or appropriate to the
administration of the Plan and this Agreement, all of which shall be binding upon
the Participant.
	 
	 	(b)  	The Committee may terminate, amend, or modify the Plan; provided,
however, that no such termination, amendment, or modification of the Plan may in
any material way adversely affect the Participant’s rights under this Agreement,
without the written consent of the Participant.
	 
	 	(c)  	The Participant agrees to take all steps necessary to comply with all
applicable provisions on transfers imposed by the Company’s and La Quinta
Properties,

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Inc.’s Certificate of Incorporation, By-Laws, and insider trading policies as in
effect from time to time, or federal and state securities laws in exercising his
or her rights under this Agreement.

	 	(d)  	This Agreement shall be subject to all applicable laws, rules, and
regulations, and to such approvals by any governmental agencies or national
securities exchanges as may be required.
	 
	 	(e)  	All obligations of the Company under the Plan and this Agreement, with
respect to this Option, shall be binding on any successor to the Company, whether
the existence of such successor is the result of a direct or indirect purchase,
merger, consolidation, or otherwise, of all or substantially all of the business
and/or assets of the Company.
	 
	 	(f)  	To the extent not preempted by federal law, this Agreement shall be
governed by, and construed in accordance with, the laws of the state of Delaware.
	 
	 	(g)  	Notice hereunder shall be given to the Company at its principal place
of business, and shall be given to the Participant at the address set forth below,
or in either case at such addresses as one party may subsequently furnish to the
other party in writing.
	 
	 	(h)  	This Option is not intended to qualify as an “incentive stock option”
under Section 422 of the Code.

     IN WITNESS WHEREOF, the parties have caused this Agreement to be executed effective as of the
Date of Grant.

	 	 	 	 	 
	 	 	LA QUINTA CORPORATION
	 
	 	 	 	 
	

	 	By:	 	 
	

	 	 	 	 

     This Option and the foregoing Agreement are hereby accepted and the terms and conditions
thereof are hereby agreed to by the Participant.

	 	 	 
	

	 	 
	

	 	Participant
	 
	 	 
	

	 	Participant’s name and address:
	 
	 	 
	

	 	 
	 
	 	 
	

	 	 
	 
	 	 
	

	 	 
	 
	 	 
	

	 	 

4exv10w97

 

EXHIBIT 10.97

INSIGNIA SOLUTIONS PLC

41300 Christy Street

Fremont, CA 94538

Telephone: 510-360-3700

Facsimile: 510-360-3701

May 17, 2005

Fusion Capital Fund II, LLC

222 Merchandise Mart Plaza

Suite 9-112

Chicago, Illinois 60654

Re: Securities Subscription Agreement Dated as of February 10, 2005

Gentlemen:

This letter is being delivered to confirm our understanding with respect to certain issues under
that certain Securities Subscription Agreement, dated as of February 10, 2005 (the “Subscription
Agreement”), by and between INSIGNIA SOLUTIONS PLC, a company incorporated under the laws of
England and Wales (the “Company”) and FUSION CAPITAL FUND II, LLC (“Fusion”), pursuant to which the
Company has agreed to issue to Fusion the Ordinary Shares, 20 pence nominal value per share, of the
Company represented by American Depository Shares (“ADSs”) in an amount up to Twelve Million
Dollars ($12,000,000) in accordance with the terms of the Subscription Agreement. All capitalized
terms used in this letter that are not defined in this letter shall have the meanings set forth in
the Subscription Agreement.

Fusion and the Company hereby agree that the Company shall have until June 30, 2005 to file the
registration statement referenced in Section 4(a) and that the June 30, 2005 date referred to in
Section 11 shall be deemed to be August 31, 2005. As consideration to Fusion for these changes,
the Company agrees to amend the exercise price on the warrant issued to Fusion on February 10, 2005
for 2,000,000 ADSs which originally had an exercise price of “ the greater of the US Dollar
equivalent of 20.5 UK pence or US$0.60” to “the greater of the US Dollar equivalent of 20.5 UK
pence or US$0.40.” The provisions set forth in Section 11 of the Subscription Agreement are
hereby incorporated by reference herein.

INSIGNIA SOLUTIONS PLC

By:     /s/ Mark McMillan     

Name: Mark McMillan

Title: Chief Executive Officer

FUSION CAPITAL FUND II, LLC

BY: FUSION CAPITAL PARTNERS, LLC

BY: SGM HOLDINGS CORP.

By:     /s/ Steven G. Martin     

Name: Steven G. Martin

Title: President

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