Document:

Form of Notice of Stock Option Grant

 Exhibit 4.2 
 1997 VASCO DATA SECURITY INTERNATIONAL, INC. 
 STOCK COMPENSATION PLAN 
 NOTICE OF STOCK OPTION GRANT 
 1 Participant’s Name and
Address: 
 Name 
 Address 
 City, State, Zip 
 2 Grant. You have been granted an option to purchase
shares of Common Stock of the Company, subject to the terms and conditions of the 1997 VASCO Data Security International, Inc. Stock Compensation Plan (the “Plan”) and the attached Award Agreement dated
                     (the “Agreement”), as follows: 
  

							
	Grant Number:	  	xxx	  		  	
	Date of Grant:	  	xxxx xx, xxxx	  		  	
	Vesting Commencement Date:	  	xx/xx/xxxx	  		  	
	Option Price per Share:	  	$xx.xx	  		  	
	Total Number of Shares Granted:	  	xxxx	  		  	
	Total Option Price:	  	$xxx,xxx.00	  		  	
	Type of Option:	  		  		  	
		  	Non-Qualified Stock Option	  	        X        	  	
		  	Other	  	 	  	
	Term/Expiration Date:	  	xxxx xx, xxxx	  		  	

 3 Vesting Schedule. Subject to other limitations set forth in the Plan and the Agreement, this Option may be
exercised, in whole or in part, in accordance with the following schedule: 
  

					
	 Date
	  	Vested	  	Total
Vested
		  		  	
		  		  	
		  		  	

 4 Incorporation. This Notice of Stock Option Grant is subject to the Plan and the Agreement. Terms not otherwise
defined herein are defined in the Plan. 

 1997 VASCO DATA SECURITY INTERNATIONAL, INC. 
 STOCK COMPENSATION PLAN 
 AWARD AGREEMENT 
 1 Grant of Option. VASCO Data Security International, Inc., a Delaware corporation (the “Company”), hereby grants to the named Participant (the
“Participant”) in the Notice of Stock Option Grant (the “Notice”), an option (the “Option”) to purchase the total number of shares of Common Stock (the “Shares”) set forth in the Notice, at the exercise price
per share set forth in the Notice (the “Option Price”) subject to the terms, definitions and provisions of the 1997 VASCO Data Security International, Inc. Stock Compensation Plan, as amended (the “Plan”) adopted by the Company,
which is incorporated herein by reference. Unless otherwise defined herein, capitalized terms shall have the same defined meanings in the Plan. 
 If designated in the Notice as an Incentive Stock Option (an “ISO”), this Option is intended to qualify as an ISO as defined in Section 422 of the Code. Nevertheless, to the extent that it exceeds the $100,000 rule of
Section 422(d) of the Code, this Option shall be treated as a Non-Qualified Stock Option. 
 In addition, if designated in the Notice as
a Reload Stock Option, the Company also grants to the Participant Reload Stock Options, each such Reload Stock Option to be deemed awarded on, and to become effective on, each date, if any (an “Award Date”) that the Participant delivers
shares of Common Stock, as permitted by Section 3(b) below, in payment of the Option Price for the Option upon any whole or partial exercise of the Option; provided, however, that no such Reload Stock Option shall be granted unless the
Participant is an active employee of the Company or an affiliate of the Company at the time of delivery of shares, and provided further that not more than two (2) Reload Stock Options shall be granted in any twelve-month period, and the maximum
number of Reload Stock Options so granted shall be ten (10). In accordance with the Plan, the Option Price for shares of Common Stock subject to each Reload Stock Option granted under this Section 1 shall be the Fair Market Value per share of
Common Stock as of the date of such exercise pursuant to Section 3(b) below. 
 2 Exercise of Option 
 2.1 Right to Exercise. This Option shall be exercisable during its term in accordance with the Vesting Schedule set out in the Notice and with the
applicable provisions of the Plan and this Award Agreement. In addition, this Option may not be exercised if the issuance of the Shares subject to the Option upon such exercise would constitute a violation of any applicable laws. This Option shall
be subject to the provisions of Section 7 of the Plan relating to the adjustments to the Option in the event of a reorganization. 
 2.2
Method of Exercise. This Option shall be exercisable only by delivery of an Exercise Notice (attached as Exhibit A) which shall state the election to exercise the Option, the whole number of Shares in respect of which the Option is being
exercised, such other representations and agreements as to the holder’s investment intent with respect to such Shares and such other provisions as may be required by the Compensation Committee of the Company (the “Committee”). Such
Exercise Notice shall be signed by the Participant and shall be delivered in person or by certified mail to the Secretary of the Company accompanied by payment of the Option Price. The Option shall be deemed to be exercised upon receipt by the
Company of such written notice accompanied by the Option Price. 
 No Shares will be issued pursuant to the exercise of the Option unless
such issuance and such exercise shall comply with all applicable laws. Assuming such compliance, for income tax purposes, the Shares shall be considered transferred to the Participant on the date on which the Option is exercised with respect to such
Shares. 
 2.3 Taxes. No Shares will be issued to the Participant or other person pursuant to the exercise of the Option until the
Participant or other person has made arrangements acceptable to the Committee for the satisfaction of foreign, federal, state and local income and employment tax withholding obligations. 

 3 Method of Payment. The Option Price shall be paid in full at the time of the exercise of the Option and may be paid in
any of the following methods or combinations thereof at the election of the Participant; provided, however, that such exercise method does not then violate an applicable law: 
  

	 	(a)	In United States dollars in cash, check, bank draft or money order payable to the order of the Company; 

  

	 	(b)	By delivery of shares of Common Stock having an aggregate Fair Market Value on the date of such exercise equal to the Option Price; 

  

	 	(c)	Participants may simultaneously exercise Stock Options and sell their shares of Common Stock acquired thereby and apply the proceeds to the payment of the Option Price pursuant to
the procedures established by the Committee; 

  

	 	(d)	In any other manner that the Committee shall approve; and 

  

	 	(e)	Any shares of Common Stock required or permitted to be sold by an executive officer in connection with the payment of the Option Price shall be transferred to the Company.

 4 Lapse of Options. Unless otherwise determined by the Committee in its sole discretion, the Options shall lapse at the time specified
below: 
 4.1 Disability or Death of Participant. If the Participant’s status as an employee or director terminates as a result of
his or her disability, the Participant may, but only within twelve (12) months from the Termination Date (and in no event later than the Term/Expiration Date), exercise the Option to the extent otherwise entitled to exercise it on the
Termination Date; provided, however, that if such disability is not a “disability” as such term is defined in Section 22(e)(3) of the Code and the Option is an ISO, such ISO shall cease to be treated as an ISO and shall be treated as
a Non-Qualified Stock Option on the ninety-first (91st) day following the Termination Date. To the extent that the Participant was not entitled to exercise the Option on the Termination Date, or if the Participant does not exercise such Option
to the extent so entitled within the time specified herein, the Option shall terminate. 
 In the event of the Participant’s death, the
Option may be exercised at any time within twelve (12) months following the date of death (and in no event later than the Term/Expiration Date designated in the Notice), by the Participant’s estate or by a person who acquired the right to
exercise the Option by bequest or inheritance, but only to the extent the Participant could exercise the Option at the date of death. 
 4.2
Termination Period. Subject to Section 3 of the Plan, this Option may be exercised for three (3) months after the date of termination (the “Termination Date”) of the Participant as an employee or director. Except as
provided in Section 4.1 above, to the extent that the Participant was not entitled to exercise this Option on the Termination Date, or if the Participant does not exercise this Option within the Termination Period, the Option shall terminate.

 4.3 Cessation of Company Affiliation. Unless the Committee determines otherwise, if Participant is employed by an affiliate of the
Company which ceases to be an affiliate of the Company, all Options shall lapse immediately upon such cessation. 
 5 Transferability of Option. No Awards
under the Plan shall be assignable, alienable, saleable or otherwise transferable other than by will or the laws of descent and distribution, or pursuant to a qualified domestic relations order (as defined by the Code) or Title I of the Employee
Retirement Income Security Act, or the rules thereunder unless otherwise determined by the Committee. This Agreement shall be binding on all successors and assigns of a Participant, including without limitation, the estate of such Participant and
the executor, administrator or trustee of such estate, or any receiver or trustee in bankruptcy or representative of the Participant’s creditors. 
 6
Entire Agreement. The Plan and the Notice are incorporated herein by reference. The Plan, the Notice and this Award Agreement constitute the entire agreement of the parties with respect to the subject matter hereof and 

 
supersede in their entirety all prior undertakings and agreements of the Company and the Participant with respect to the subject matter hereof. 

7 Interpretation. Any dispute regarding the interpretation of this Award Agreement shall be submitted by the Participant or by the Company forthwith to the Board or
the Committee, which shall review such dispute at its next regular meeting. The resolution of such dispute by, or the interpretation of any questions arising under the Plan or this Award Agreement of the Board or the Committee shall be binding,
conclusive and final and binding on all persons. 
  

			
	 VASCO DATA SECURITY INTERNATIONAL, INC.
         a Delaware corporation

		
	By:	 	  

	Its:	 	  

 Participant acknowledges and agrees that the vesting of shares hereunder is earned only by
continuing employment and that nothing in this Agreement confers upon Participant any right to continued employment by the Company, nor shall it interfere in any way with Participant’s or the Company’s right to terminate Participant’s
employment at any time, with or without cause. 
 Participant acknowledges receipt of a copy of the Plan and represents that he or she is
familiar with the terms and provisions thereof, and hereby accepts this Award Agreement subject to all of the terms and provisions thereof. Participant has had an opportunity to obtain the advice of counsel prior to executing this Award Agreement.
Participant further agrees to notify the Company upon any change in the residential address indicated below. 
 Dated: xxxx xx, xxxx 
  

			
	Signed:	 	  

		 	Participant

 Residential Address: 
 Name 
 Address 
 City, State, Zip 

 EXHIBIT A 
 1997 VASCO DATA SECURITY INTERNATIONAL, INC. 
 STOCK COMPENSATION PLAN 
 EXERCISE NOTICE 
 VASCO Data Security International, Inc.

 1901 South Meyers Road, Suite 210 
 Oakbrook Terrace, Illinois
60181 
 Attention: Secretary 
 1 Exercise. Effective as of
today,                     ,
                                        
                    , the undersigned (“Participant”) hereby elects to exercise Participant’s option to purchase
             shares of the Common Stock (the “Shares”) of VASCO Data Security International, Inc. (the “Company”) under and pursuant to the Company’s 1997
VASCO Data Security International, Inc. Stock Compensation Plan (the “Plan”) and the Award Agreement dated                      (the
“Award Agreement” ). 
 2 Representations of Participant. Participant acknowledges that Participant has received, read and understood the Plan and
the Award Agreement and agrees to abide by and be bound by their terms and conditions. 
 3 Rights as Stockholder. Until the stock certificate evidencing
such Shares is issued (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), no right to vote or receive dividends or any other rights as a stockholder shall exist with respect to
the Optioned Stock, notwithstanding the exercise of the Option. The Company shall issue (or cause to be issued) such stock certificate promptly after the Option is exercised. Except as provided in Award Agreement, no adjustment will be made for a
dividend or other right for which the record date is prior to the date the stock certificate is issued. 
 4 Delivery of Payment. Participant herewith
delivers to the Company the full Option Price for the Shares. 
 5 Tax Consultation. Participant understands that Participant may suffer adverse tax
consequences as a result of Participant’s purchase or disposition of the Shares. Participant represents that Participant has consulted with any tax consultants Participant deems advisable in connection with the purchase or disposition of the
Shares and that Participant is not relying on the Company for any tax advice. 
 6 Taxes. Participant agrees to satisfy all applicable federal, state and
local income and employment tax withholding obligations and herewith delivers to the Company the full amount of such obligations or has made arrangements acceptable to the Company to satisfy such obligations. Participant also agrees, ap partial
consideration for the designation of the option as an ISO, to notify the Company in writing within thirty (30) days of any disposition of any shares acquired by exercise of the option if such disposition occurs within (2) two years from
the grant date or within one (1) year from the date the Shares were transferred to Participant. If the Company is required to satisfy any federal, state or local income or employment tax withholding obligations as a result of such an early
disposition, Participant agrees to satisfy the amount of such withholding in a manner that the Committee prescribes. 

							
	Submitted by:	 		 	Accepted by:
			
	PARTICIPANT:	 		 	VASCO DATA SECURITY
		 		 	INTERNATIONAL, INC.
				
		 		 		 	
	  
	 		 	By:	 	  

	(Signature)	 		 		 	
		 		 	Its:	 	  

  

			
	ADDRESS:	  	
		
	  
	  	
	  
	  	
	  
	  	
		
	ADDRESS TO SEND CERTIFICATES (if different):	  	
		
	  
	  	
	  
	  	
	  
	  	
		
	BREAKDOWN OF CERTIFICATES:Form of Award Agreement For Restricted Shares

 Exhibit 4.5 
 AWARD AGREEMENT FOR DEFERRED STOCK 
 UNDER THE 
 VASCO DATA SECURITY INTERNATIONAL,
INC. 
 1997 STOCK COMPENSATION PLAN 
 THIS AWARD AGREEMENT FOR DEFERRED STOCK (this “Agreement”) is made as of January 10, 2007, between VASCO DATA SECURITY
INTERNATIONAL, INC. (the “Company”) and                      (the “Grantee”), a non-employee director of the
Company. 
 WHEREAS, the Company maintains the VASCO Data Security International, Inc. 1997 Stock Compensation Plan (the
“Plan”) for the benefit of its employees, directors, consultants, and other individuals who provide services to the Company; and 
 WHEREAS, the Plan permits the issuance of shares of the Company’s Common Stock under various forms of award, subject to certain terms, conditions and restrictions; and 
 WHEREAS, to compensate the Grantee for his or her service as a director of the Company, the Company wishes to award the Grantee the right to receive a
number of shares of Common Stock, subject to the restrictions and on the terms and conditions contained in the Plan and this Agreement. 
 NOW, THEREFORE, in consideration of these premises and the agreements set forth herein, the parties, intending to be legally bound hereby, agree as follows: 
 Grant of Deferred Shares. The Company hereby grants to the Grantee an award of              shares (the “Deferred Shares”) of
the Company’s common stock, par value of $.001 per share (the “Common Stock”) subject to the terms and conditions set forth herein and in the Plan and subject further to adjustment as provided in Section 11(c) of the Plan.
The Deferred Shares granted hereunder represents the unfunded and unsecured right to require the Company to deliver to the Grantee one share of Common Stock for each Deferred Share. The terms of the Plan are hereby incorporated into this Agreement
by this reference, as though fully set forth herein. Capitalized terms used but not defined herein will have the same meaning as defined in the Plan. 
 Vesting of Deferred Shares. The Deferred Shares are subject to forfeiture to the Company until they become nonforfeitable in accordance with this Section 2. 
 Vesting. The Deferred Shares will become nonforfeitable on
                     (the “Vesting Date”), provided that the Grantee is, and has, from the date hereof, continuously served as a
director of the Company through the Vesting Date. 
 All Unvested Shares Forfeited Upon Cessation of Service. Subject to the
remainder of this Section 2, upon cessation of Grantee’s service as a director of the Company for any reason or for no reason (and whether such cessation is initiated by the Company, the Grantee or otherwise): (i) any Deferred Shares
that have not, prior to the effective date of such cessation, become nonforfeitable will immediately and automatically, without any action on the part of the Company, be forfeited, and (ii) the Grantee will have no further rights with respect
to those Deferred Shares. 
 Acceleration on Death or Disability. If the Grantee ceases to be a director of the Company by reason of
the Grantee’s death or physical disability, all outstanding but unvested Deferred Shares shall become immediately vested. The term “disability” means a medically determinable mental or physical impairment that, in the opinion of the
Board, causes the Grantee to be unable to perform his or her duties as a director of the Company. 
 Acceleration upon a Change in
Control. Upon a Change in Control of the Company, all outstanding but unvested Deferred Shares shall become immediately vested and nonforfeitable. 

 No Voting Rights; Dividend Equivalents. The Grantee shall have no rights as a shareholder of the
Company with respect to the Deferred Shares subject to this Agreement (including the right to vote or receive dividends) until the underlying Common Stock is issued to the Grantee in accordance with Section 4. The Grantee will not be entitled
to receive cash payments representing any dividend equivalents paid or payable with respect to the Common Stock underlying the Deferred Shares. 
 Delivery of Common Stock Underlying Deferred Shares. The Company will deliver shares of Common Stock with respect to the Deferred Shares to the Grantee within ten (10) business days upon the earliest to occur of: (i) the
Grantee’s cessation of service as a director of the Company, or (ii) a Change in Control (as defined in the Plan), but only if such Change in Control also constitutes a “change in control” of the Company within the meaning of
Section 409A of the Code (in each case, the date of delivery of such shares is referred to as a “Delivery Date”). The Grantee may not elect to defer the receipt of the shares of Common Stock underlying the Deferred Shares
beyond the Delivery Date provided for in this Section 4. 
 Restrictions on Transfer. The Grantee may not sell, transfer, assign,
pledge or otherwise encumber or dispose of the Deferred Shares subject to this Agreement until such time as the shares of Common Stock underlying the Deferred Shares are issued to the Grantee in accordance with Section 4. The Grantee may
designate beneficiaries to receive the shares of Common Stock underlying the Deferred Shares subject to this Agreement if the Grantee dies before delivery of the shares of Common Stock by so indicating on a form supplied by the Company. If the
Grantee fails to designate a beneficiary, such Common Stock will be delivered to the Grantee’s estate. 
 Tax Consequences. The
Grantee acknowledges that the Company has not advised the Grantee regarding the Grantee’s income tax liability in connection with the grant or vesting of the Deferred Shares or the delivery of the Common Stock underlying the Deferred Shares.
The Grantee has reviewed with the Grantee’s own tax advisors the federal, state, local and foreign tax consequences of this investment and the transactions contemplated by this Agreement. The Grantee is relying solely on such advisors and not
on any statements or representations of the Company or any of its agents. The Grantee understands that the Grantee (and not the Company) shall be responsible for the Grantee’s own tax liability that may arise as a result of the transactions
contemplated by this Agreement. 
 Securities Laws. The Company may from time to time impose any conditions on the Deferred Shares or
the shares of Common Stock underlying the Deferred Shares as it deems necessary or advisable to ensure that the Plan satisfies the conditions of Rule 16b-3 or other applicable laws. 
 General Provisions. 
 This
Agreement, together with the Plan, represent the entire agreement between the parties with respect to the purchase of the Deferred Shares and may only be modified or amended in a writing signed by both parties. 
 Any notice, demand or request required or permitted to be given by either the Company or the Grantee pursuant to the terms of this Agreement shall be in
writing and shall be deemed given on the date and at the time delivered via personal, courier or recognized overnight delivery service or, if sent via telecopier, on the date and at the time telecopied with confirmation of delivery or, if mailed, on
the date five (5) days after the date of the mailing (which shall be by regular, registered or certified mail). Delivery of a notice by telecopy (with confirmation) shall be permitted and shall be considered delivery of a notice notwithstanding
that it is not an original that is received. Any notice to Grantee under this Agreement shall be made to Grantee at the address listed in the Company’s personnel files. If directed to the Company, any such notice, demand or request shall be
sent to the Company’s principal executive office, c/o the Company’s Secretary, or to such other address or person as the Company may hereafter specify in writing. Any notice to the Escrow Holder shall be sent to the Company’s address,
with a copy to the other party not sending the notice. 

 The Company may condition delivery of certificates for the shares of Common Stock underlying the
Deferred Shares upon the prior receipt from Grantee of any undertakings which it may determine are required to assure that the certificates are being issued in compliance with federal and state securities laws. 
 The Grantee has received a copy of the Plan, has read the Plan and is familiar with its terms, and hereby accepts the Deferred Shares subject to all of
the terms and provisions of the Plan, as amended from time to time. Pursuant to the Plan, the Board and the Committee are authorized to interpret the Plan and to adopt rules and regulations not inconsistent with the Plan as they deem appropriate.
The Grantee hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Board and the Committee upon any questions arising under the Plan. 
 The award of Deferred Shares granted hereunder is intended to comply with the requirements of Section 409A of the Code (“Section 409A”).
Notwithstanding the foregoing, the Grantee hereby agrees that the Board and/or the Company may, without the prior consent of the Grantee, modify or amend the terms of the this Agreement in any manner it deems reasonably necessary in its discretion,
in order to ensure that the award of Deferred Shares granted hereunder is not subject to any additional taxes or penalties for failing to comply with the requirements of Section 409A of the Code and any regulations or other authority issued
thereunder by the appropriate government authority. 
 If any payment, compensation or other benefit provided to the Grantee in connection
with his termination of employment or services is determined, in whole or in part, to constitute “nonqualified deferred compensation” within the meaning of Section 409A and the Grantee is a specified employee as defined in
Section 409A(2)(B)(i), no part of such payments shall be paid before the day that is six (6) months plus one (1) day after the termination date (the “New Payment Date”). The aggregate of any payments that otherwise would
have been paid to the Grantee during the period between the termination date and the New Payment Date shall be paid to the Grantee in a lump sum on such New Payment Date. Thereafter, any payments that remain outstanding as of the day immediately
following the New Payment Date shall be paid without delay over the time period originally scheduled, in accordance with the terms of this Agreement. 
 Neither this Agreement nor any rights or interest hereunder shall be assignable by the Grantee, his beneficiaries or legal representatives, and any purported assignment in violation hereof shall be null and void.

 Either party’s failure to enforce any provision or provisions of this Agreement shall not in any way be construed as a waiver of any
such provision or provisions, nor prevent that party thereafter from enforcing each and every other provision of this Agreement. The rights granted both parties herein are cumulative and shall not constitute a waiver of either party’s right to
assert all other legal remedies available to it under the circumstances. 
 The grant of Deferred Shares hereunder will not confer upon the
Grantee any right to continue in service with the Company or any of its subsidiaries. 
 This Agreement shall be governed by, and enforced
in accordance with, the laws of the State of Delaware, without regard to the application of the principles of conflicts or choice of laws. 
 This Agreement may be executed, including execution by facsimile signature, in one or more counterparts, each of which shall be deemed an original, and all of which together shall be deemed to be one and the same instrument. 
 [Signature Page Follows] 

 IN WITNESS WHEREOF, the parties have duly executed this Award Agreement for Deferred Stock on
the     day of                 . 
  

			
	VASCO DATA SECURITY INTERNATIONAL, INC.
		
	By:	 	  

	Title:	 	
	
	GRANTEE

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00138-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00138-of-00352.parquet"}]]