Document:

exv10w9

Exhibit 10.9

FXCM INC.

2010 LONG-TERM INCENTIVE PLAN

FORM OF

NON-QUALIFIED STOCK OPTION AGREEMENT

          THIS AGREEMENT (the “Agreement”), is made effective as of the date set forth on the
signature page hereto (the “Date of Grant”), between FXCM Inc. (the “Company”) and
the individual named on the signature page hereto (the “Participant”).

R E C I T A L S:

          WHEREAS, the Company has adopted the Plan (as defined below), the terms of which are hereby
incorporated by reference and made a part of this Agreement; and

          WHEREAS, the Committee (as defined in the Plan) has determined that it would be in the best
interests of the Company and its stockholders to grant the Option (as defined below) provided for
herein to the Participant pursuant to the Plan and the terms set forth herein.

          NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth, the parties
agree as follows:

          1. Definitions. Whenever the following terms are used in this Agreement, they shall have the
meanings set forth below. Capitalized terms not otherwise defined herein shall have the same
meanings as in the Plan.

          (a) Cause: “Cause” shall mean “Cause” as defined in any employment, severance
protection or similar agreement then in effect between the Participant and any entity that is a
member of the Company Group or, if no such agreement containing a definition of “Cause” is then in
effect or if such term is not defined therein, “Cause” shall mean a termination of employment of
the Participant by any entity that is a member of the Company Group due to (i) the Participant’s
engagement in misconduct which is materially injurious to the Company or any of its Affiliates,
(ii) the Participant’s continued failure to substantially perform his duties to any entity that is
a member of the Company Group, (iii) the Participant’s repeated dishonesty in the performance of
his duties to any entity that is a member of the Company Group, (iv) the Participant’s commission
of an act or acts constituting any (x) fraud against, or misappropriation or embezzlement from the
Company or any of its Affiliates, (y) crime involving moral turpitude, or (z) offense that could
result in a jail sentence of at least 30 days, (v) the Participant’s engagement in conduct or
activities that materially violate any applicable governmental or quasi-governmental regulation
involving securities, (vi) the violation by the Participant of a written company policy regarding
employment, including substance abuse, sexual harassment or discrimination, or the Company’s
insider trading policy, or (vii) the material breach by the Participant of any of the provisions of
any agreement between the Participant, on the one hand, and any entity that is a member of the
Company Group, on the other hand. The determination of

 

 

the existence of Cause shall be made by the Committee in good faith, which determination shall
be conclusive for purposes of this Agreement.

          (b) Company Group: The Company and its Subsidiaries.

          (c) Expiration Date: The seventh anniversary of the Date of Grant.

          (d) Good Reason: “Good Reason” shall mean “Good Reason” as such term may be defined in
any employment, severance protection or similar agreement then in effect between the Participant
and any entity that is a member of the Company Group, or, if there is no such agreement or such
term is not defined therein, “Good Reason” shall mean, without the Participant’s consent, a change
by the applicable entity that is a member of the Company Group in the Participant’s duties and
responsibilities which is materially inconsistent with the Participant’s position at the applicable
entity that is a member of the Company Group, or a material reduction in the Participant’s annual
base salary (excluding any reduction in the Participant’s salary that is part of a plan to reduce
salaries of comparably situated employees of any entity that is a member of the Company Group
generally); provided that, notwithstanding anything to the contrary in the foregoing, the
Participant shall only have “Good Reason” to terminate employment following the applicable entity’s
failure to remedy the act which is alleged to constitute “Good Reason” within fifteen (15) business
days following such entity’s receipt of written notice from the Participant specifying such act, so
long as such notice is provided within thirty (30) business days after such event has first
occurred.

          (e) Option: The Option with respect to which the terms and conditions are set forth in
Section 3 of this Agreement.

          (f) Plan: The FXCM Inc. 2010 Long-Term Incentive Plan, as it may be amended or
supplemented from time to time.

          (g) Vested Portion: At any time, the portion of the Option which has become vested, as
described in Section 3 of this Agreement.

          2. Grant of the Option. The Company hereby grants to the Participant the right and option to
purchase, on the terms and conditions hereinafter set forth, all or any part of the number of
Shares subject to the Option set forth on the signature page hereto, subject to adjustment as set
forth in the Plan. The Option Price shall be as set forth on the signature page hereto. The Option
is intended to be a nonqualified stock option, and is not intended to be treated as an incentive
stock option that complies with Section 422 of the Code.

          3. Vesting of the Option.

          (a) Subject to the Participant’s continued Employment through the applicable vesting date, the
Option shall vest and become exercisable at the times set forth on the signature page hereto.

          (b) Termination of Employment. If the Participant’s Employment terminates for any
reason, the Option, to the extent not then vested and exercisable, shall be immediately canceled by
the Company without consideration. Notwithstanding anything to the contrary in

 

 

this Agreement, (x) in the event of the termination of the Participant’s Employment (i) by any
entity that is a member of the Company Group without Cause (other than due to death or Disability)
or (ii) by the Participant for Good Reason, in each case, within the two (2) year period following
a Change in Control, the Option shall, to the extent not then vested or previously forfeited or
cancelled, become fully vested and exercisable effective as of the termination date and (y) in the
event of the termination of the Participant’s Employment due to death or Disability, the
Participant shall be deemed vested in any portion of the Option that would otherwise have vested
within 12 months following such termination of Employment.

          4. Exercise of the Option.

          (a) Period of Exercise. Subject to the provisions of the Plan and this Agreement, the
Participant may exercise all or any part of the Vested Portion of the Option at any time prior to
the Expiration Date. Notwithstanding the foregoing, at any time prior to the Expiration Date, the
Vested Portion of the Option shall only remain exercisable for the period set forth below with
respect to the particular event:

          (i) Termination due to Death or Disability. If the Participant’s Employment is
terminated due to the Participant’s death or Disability, the Participant may exercise the
Vested Portion of the Option for a period ending on the earlier of (A) one year following
such termination of Employment and (B) the Expiration Date;

          (ii) Termination by the Company without Cause (other than Due to Death or
Disability) or by the Participant for Good Reason. If the Participant’s Employment is
terminated (x) by any entity that is a member of the Company Group without Cause (other than
due to death or Disability) or (y) by the Participant for Good Reason, the Participant may
exercise the Vested Portion of the Option for a period ending on the earlier of (A) 90 days
following such termination of Employment and (B) the Expiration Date;

          (iii) Termination by the Participant without Good Reason. If the Participant’s
Employment is terminated by the Participant without Good Reason, the Participant may
exercise the Vested Portion of the Option for a period ending on the earlier of (A) 30 days
following such termination of Employment and (B) the Expiration Date; and

          (iv) Termination by the Company for Cause. If the Participant’s Employment is
terminated by any entity that is a member of the Company Group for Cause, the Vested Portion
of the Option shall immediately terminate in full and cease to be exercisable.

          (b) Method of Exercise.

          (i) Subject to Section 4(a) of this Agreement and any administrative procedures that
may be established by the Company, the Vested Portion of the Option may be exercised by
delivering to the Company at its principal office written notice of intent to so exercise;
provided that the Option may be exercised with respect to whole Shares only. Such
notice shall specify the number of Shares for which the Option is

 

 

being exercised and shall be accompanied by payment in full of the Option Price. The
payment of the Option Price may be made at the election of the Participant (i) in cash or
its equivalent (e.g., by check), (ii) to the extent permitted by the Committee, in Shares
having a Fair Market Value equal to the aggregate Option Price for the Shares being
purchased and satisfying such other requirements as may be imposed by the Committee;
provided, that such Shares have been held by the Participant for more than six months (or
such other period as established from time to time by the Committee in order to avoid
adverse accounting treatment applying generally accepted accounting principles), (iii)
partly in cash and, to the extent permitted by the Committee, partly in such Shares, (iv) if
there is a public market for the Shares at such time, to the extent permitted by, and
subject to such rules as may be established by the Committee, through the delivery of
irrevocable instructions to a broker to sell Shares obtained upon the exercise of the Option
and to deliver promptly to the Company an amount out of the proceeds of such sale equal to
the aggregate Option Price for the Shares being purchased, or (v) to the extent permitted by
the Committee, using a net settlement mechanism whereby the number of Shares delivered upon
the exercise of the Option will be reduced by a number of Shares that has a Fair Market
Value equal to the Option Price. The Participant shall not have any rights to dividends or
other rights of a stockholder with respect to Shares subject to the Option until the
Participant has given written notice of exercise of the Option, paid in full for such Shares
and, if applicable, has satisfied any other conditions imposed by the Committee pursuant to
the Plan.

          (ii) Notwithstanding any other provision of the Plan or this Agreement to the contrary,
the Option may not be exercised prior to the completion of any registration or qualification
of the Option or the Shares under applicable state and federal securities or other laws, or
under any ruling or regulation of any governmental body or national securities exchange that
the Committee shall in its sole discretion determine to be necessary or advisable.

          (iii) Upon the Company’s determination that the Option has been validly exercised as to
any of the Shares, the Company may issue certificates in the Participant’s name for such
Shares. However, the Company shall not be liable to the Participant for damages relating to
any delays in issuing the certificates, if any, to the Participant, any loss by the
Participant of any certificates, or any mistakes or errors in the issuance of any
certificates or in the certificates themselves, if any. Notwithstanding the foregoing, the
Company may elect to recognize the Participant’s ownership through uncertificated book
entry.

          (iv) In the event of the Participant’s death, the Vested Portion of the Option shall
remain exercisable by the Participant’s executor or administrator, or the person or persons
to whom the Participant’s rights under this Agreement shall pass by will or by the laws of
descent and distribution as the case may be, to the extent set forth in Section 4(a) of this
Agreement. Any heir or legatee of the Participant shall take rights herein granted subject
to the terms and conditions hereof.

          5. No Right to Continued Employment. Neither the Plan nor this Agreement shall be construed
as giving the Participant the right to be retained in the employ of,

 

 

or in any consulting relationship to, any entity that is a member of the Company Group.
Further, any entity that is a member of the Company Group may at any time dismiss the Participant
or discontinue any consulting relationship, free from any liability or any claim under the Plan or
this Agreement, except as otherwise expressly provided herein.

          6. Legend on Certificates. To the extent applicable, all certificates (or book entries)
representing the Shares purchased by exercise of the Option shall be subject to the rules,
regulations, and other requirements of the Securities and Exchange Commission, any stock exchange
upon which such Shares are listed, and any applicable federal or state laws, and the Committee may
cause a legend or legends to be put on any such certificates (or notations made next to the book
entries) to make appropriate reference to such restrictions.

          7. Transferability. The Option may not be assigned, alienated, pledged, attached, sold or
otherwise transferred or encumbered by the Participant otherwise than by will or by the laws of
descent and distribution, and any such purported assignment, alienation, pledge, attachment, sale,
transfer or encumbrance shall be void and unenforceable against the Company or any Affiliate;
provided that the designation of a beneficiary shall not constitute an assignment,
alienation, pledge, attachment, sale, transfer or encumbrance. No such permitted transfer of the
Option to heirs or legatees of the Participant shall be effective to bind the Company unless the
Committee shall have been furnished with written notice thereof and a copy of such evidence as the
Committee may deem necessary to establish the validity of the transfer and the acceptance by the
transferee or transferees of the terms and conditions thereof. During the Participant’s lifetime,
the Option is exercisable only by the Participant.

          8. Withholding. The Participant may be required to pay to any entity that is a member of the
Company Group and any entity that is a member of the Company Group shall have the right and is
authorized to withhold any applicable withholding or other taxes in respect of the Option, its
exercise, or any payment or transfer under or with respect to the Option and to take such other
action as may be necessary in the opinion of the Committee to satisfy all obligations for the
payment of such withholding or other taxes. The Participant may elect to pay any or all of such
withholding or other taxes as provided in Section 4(c) of the Plan.

          9. Securities Laws. Upon the acquisition of any Shares pursuant to the exercise of the
Option, the Participant will make or enter into such written representations, warranties and
agreements as the Committee may reasonably request in order to comply with applicable securities
laws or with this Agreement.

          10. Notices. Any notice under this Agreement shall be addressed to the Company in care of its
General Counsel, each copy addressed to the principal executive office of the Company and to the
Participant at the address appearing in the personnel records of the Company for the Participant or
to either party at such other address as either party hereto may hereafter designate in writing to
the other. Any such notice shall be deemed effective upon receipt thereof by the addressee.

          11. Governing Law. This Agreement shall be governed by and construed in accordance with the
laws of the state of Delaware without regard to conflicts of laws.

 

 

          12. Amendment. This Agreement may be amended only by a written instrument executed by the
parties hereto, which specifically states that it is amending this Agreement.

          13. Option Subject to Plan. By entering into this Agreement the Participant agrees and
acknowledges that the Participant has received and read a copy of the Plan. The Option is subject
to the Plan. The terms and provisions of the Plan, as they may be amended from time to time, are
hereby incorporated by reference. In the event of a conflict between any term or provision
contained herein and a term or provision of the Plan, the applicable terms and provisions of the
Plan will govern and prevail.

          14. Severability. In the event that any one or more of the provisions of this Agreement shall
be or become invalid, illegal or unenforceable in any respect, the validity, legality and
enforceability of the remaining provisions of this Agreement shall not be affected thereby.

          15. Signature in Counterparts. This Agreement may be signed in counterparts, each of which
shall be an original, with the same effect as if the signatures thereto and hereto were upon the
same instrument.

[The remainder of this page intentionally left blank.]

 

 

IN WITNESS WHEREOF, this Agreement has been executed and delivered by the parties hereto.

	 	 	 	 	 	 	 

	 	 	FXCM INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Its	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 	 	[NAME OF PARTICIPANT]	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 

	 	 	 	 	 	 	 	 	 

	The Date of Grant is
	 	 	.	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	The number of Shares subject to the Option is
	 		 	 	.	 
	 
	 	 	 	 	 	 	 	 
	The Option Price shall be $
	 	per Share.	 	 	 	 

Subject to the Participant’s continued Employment through the applicable vesting date, the Option
shall vest and become exercisable with respect to twenty-five percent (25%) of the Shares subject
to such Option on each of the first four (4) anniversaries of the Date of Grant.exv10w10

Exhibit 10.10

	 	 	, 2010

Dear           :

In consideration of your valuable service to FXCM Inc. and its subsidiaries (collectively, the
“Company Group”), FXCM Holdings, LLC (the “Company”) desires to offer you
protection against the termination of your employment with the Company Group on the terms and
conditions set forth in this letter agreement (the “Letter Agreement”).

Accordingly, subject to your continued employment with the Company Group, you and the Company
hereby agree as follows:

     1. Rights on Termination of Employment.

          (a) If your employment is terminated (x) by any entity that is a member of the Company Group
without Cause (as defined below) (other than due to death or disability) or (y) by you for Good
Reason (as defined below), in each case, subject to (A) your execution, delivery and non-revocation
of a general release of claims against the Company and its affiliates in a form reasonably
acceptable to the Company (the “Release”) within forty-five (45) days following the
termination date and (B) your compliance with the restrictive covenants set forth in that certain
Confidentiality and Restrictive Covenant Agreement, dated , 2008, by and between the Company and
you (the “Restrictive Covenant Agreement”) (clauses (A) and (B), collectively, the
“Conditions”), you shall be entitled to receive an aggregate amount (such aggregate amount,
the “Severance Payment”) equal to two (2) times your base salary as in effect on the
termination date, which amount shall be payable by the Company in equal monthly installments over a
twenty-four (24) month period commencing on the Payment Commencement Date (as defined below)
(assuming you have not revoked the Release prior to such date). The Company will commence paying
the Severance Payment on the 60th day following your termination of employment (such
date, the “Payment Commencement Date”) (with payments in arrears from the termination
date).

          (b) In addition to the Severance Payment and subject to the Conditions, if your employment is
terminated (x) by any entity that is a member of the Company Group without Cause (other than due to
death or disability) or (y) by you for Good Reason, in each case, (1) you and your spouse and
eligible dependents, to the extent applicable (to the extent covered immediately prior to such
termination) will continue to be eligible to participate in the Company Group’s medical plan(s) for
which you were eligible immediately prior to the termination date for an eighteen (18) month period
following the termination date (such period, the “Continuation Coverage Period”) and (2)
following the Continuation Coverage Period, for a period of six (6) months immediately thereafter,
you will be entitled to receive, on the first business day of each month, an amount equal to the
premium subsidy the Company Group would have otherwise paid on your behalf for medical coverage if
you had been actively employed during such six (6) month period. The COBRA health care
continuation coverage period

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under Section 4980B of the Code, or any replacement or successor provision of United States
tax law, will run concurrently with the Continuation Coverage Period.

          (c) In the event of a breach of the restrictive covenants set forth in the Restrictive
Covenant Agreement, (x) as provided for above, the Company will be immediately relieved of its
obligation to provide the payments and benefits set forth in clauses (a) and (b) above and (y) you
will be required to promptly pay the Company a lump sum amount equal to the sum of all payments
previously made to you hereunder. Your forfeiture of the payments and benefits hereunder will not
be deemed to be a waiver of any right or any other remedy that the Company Group may have at law or
in equity, or pursuant to this Letter Agreement or the Restrictive Covenant Agreement, to enforce
the provisions of this Letter Agreement or the Restrictive Covenant Agreement.

          (d) For purposes of this Letter Agreement, “Cause” shall exist if any entity that is a member
of the Company Group determines that any one or more of the following events has occurred while
employed by the Company Group: (i) your engagement in misconduct which is materially injurious to
the Company or any of its subsidiaries, (ii) your continued failure to substantially perform your
duties to any entity that is a member of the Company Group, (iii) your repeated dishonesty in the
performance of your duties to any entity that is a member of the Company Group, (iv) your
commission of an act or acts constituting any (x) fraud against, or misappropriation or
embezzlement from the Company or any of its affiliates, (y) crime involving moral turpitude, or (z)
offense that could result in a jail sentence of at least 30 days, (v) your engagement in conduct or
activities that materially violate any applicable governmental or quasi-governmental regulation
involving securities, (vi) the violation by you of a written company policy regarding employment,
including substance abuse, sexual harassment or discrimination, or the Company’s insider trading
policy, or (vii) the material breach by you of any of the provisions of any agreement between you,
on the one hand, and any entity that is a member of the Company Group, on the other hand. The
determination of the existence of Cause shall be made by the applicable entity that is a member of
the Company Group in good faith, which determination shall be conclusive for purposes of this
Letter Agreement.

          (e) For purposes of this Letter Agreement, “Good Reason” shall mean, without your consent, a
change by the applicable entity that is a member of the Company Group in your duties and
responsibilities which is materially inconsistent with your position at the applicable entity that
is a member of the Company Group, or a material reduction in your annual base salary (excluding any
reduction in your salary that is part of a plan to reduce salaries of comparably situated employees
of any entity that is a member of the Company Group generally); provided that, notwithstanding
anything to the contrary in the foregoing, you shall only have “Good Reason” to terminate
employment following the applicable entity’s failure to remedy the act which is alleged to
constitute “Good Reason” within fifteen (15) business days following such entity’s receipt of
written notice from you specifying such act, so long as such notice is provided within thirty (30)
business days after such event has first occurred.

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          (f) You acknowledge and agree that the payments and benefits described in this Letter
Agreement will be the only such payments and benefits you are to receive as a result of your
termination of employment and you agree you are not entitled to any additional payments, rights or
benefits not otherwise described in this Letter Agreement (other than any payments, rights or
benefits under the Amended and Restated Limited Liability Company Agreement of the Company, as it
may be further amended from time to time). You hereby acknowledge and agree that you are not
eligible to be a participant in any severance or retention plan of any entity that is a member of
the Company Group.

     2. Severability; Applicable Law.

          (a) The provisions of this Letter Agreement shall be deemed severable, and the invalidity or
unenforceability of any provision hereof shall not affect the validity or enforceability of the
other provisions hereof.

          (b) This Letter Agreement and any dispute hereunder shall be construed, interpreted and
governed in accordance with the laws of the State of New York without reference to rules relating
to conflicts of law.

     3. Entire Agreement; Amendment.

          (a) This Letter Agreement constitutes the entire agreement between the parties with respect
to the subject matter hereof and supersedes all other prior written or oral agreements concerning
such subject matter (including, for the avoidance of doubt, Section 9 of the Restrictive Covenant
Agreement), except that Sections 1 — 8 of the Restrictive Covenant Agreement and any provisions
related thereto shall continue to apply and are hereby made a part of this Letter Agreement by
reference.

          (b) This Letter Agreement may only be amended or modified by a written agreement executed by
you and the Company (or any of its respective successors).

     4. Compliance with IRC Section 409A. This Letter Agreement is intended to comply with
Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and will be
interpreted accordingly. References under this Letter Agreement to your termination of employment
shall be deemed to refer to the date upon which you have experienced a “separation from service”
within the meaning of Section 409A of the Code. Notwithstanding anything herein to the contrary,
(i) if at the time of your separation from service with all entities that are members of the
Company Group you are a “specified employee” as defined in Section 409A of the Code (and any
related regulations or other pronouncements thereunder) and the deferral of the commencement of any
payments or benefits otherwise payable hereunder or payable under any other compensatory
arrangement between you and any member of the Company Group as a result of such separation from
service is necessary in order to prevent any accelerated or additional tax under Section 409A of
the Code, then the Company will defer the commencement of the payment of any such payments or
benefits hereunder (without any reduction in such payments or benefits ultimately paid or provided
to you) until the date

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that is six months following your separation from service (or the earliest date as is permitted
under Section 409A of the Code), at which point all payments deferred pursuant to this Section 4
shall be paid to you in a lump sum and (ii) if any other payments of money or other benefits due to
you hereunder could cause the application of an accelerated or additional tax under Section 409A of
the Code, such payments or other benefits shall be deferred if deferral will make such payment or
other benefits compliant under Section 409A of the Code, or otherwise such payment or other
benefits shall be restructured, to the extent possible, in a manner that does not cause such an
accelerated or additional tax. To the extent any reimbursements or in-kind benefits due to you
under this Agreement constitute “deferred compensation” under Section 409A of the Code, any such
reimbursements or in-kind benefits shall be paid to you in a manner consistent with Treasury
Regulation Section 1.409A-3(i)(1)(iv). For purposes of Section 409A of the Code, each payment made
under this Letter Agreement shall be designated as a “separate payment” within the meaning of
Section 409A of the Code.

     5. No Set Off; Mitigation. You shall not be required to mitigate damages with respect
to the termination of your employment with the Company Group under this Letter Agreement by seeking
other service or otherwise, and, unless expressly provided for herein, there shall be no offset
against amounts due to you under this Letter Agreement on account of subsequent service.

     6. Assignment. This Letter Agreement and all of your rights and obligations hereunder
shall not be assignable or delegable by you. Any purported assignment or delegation by you in
violation of the foregoing shall be null and void ab initio and of no force and effect. No rights
or obligations of the Company under this Letter Agreement may be assigned or transferred by the
Company without your prior written consent, except that such rights or obligations may be assigned
or transferred pursuant to a merger, consolidation or other similar transaction in which the
Company is not the continuing entity or a sale, liquidation or other disposition of all or
substantially all of the assets of the Company provided that the assignee or transferee is the
successor to all or substantially all of the assets of the Company. Upon any such assignment or
transfer, the rights and obligations of the Company hereunder shall become the rights and
obligations of such assignee or transferee.

     7. Counterparts. This Letter Agreement may be executed in counterparts and by fax or
pdf.

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     If the foregoing terms and conditions are acceptable and agreed to by you, please sign on the
line provided below to signify such acceptance and agreement and return the executed copy to the
undersigned.

	 	 	 	 	 
	 	FXCM HOLDINGS, LLC

 	 
	 	By:  	 	 
	 	Name:  	 	 	 
	 	Title:  	 	 	 
	 

Accepted and Agreed

__________________________

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