Document:

Form of Stock Option Agreement under the 2000 Stock Option/Stock Issuance Plan

 Exhibit 10.5 
 WAGEWORKS, INC. 
 NOTICE OF GRANT OF STOCK OPTION 

Notice is hereby given of the following option grant (the “Option”) to purchase shares of the Common Stock of WageWorks, Inc.
(the “Corporation”): 
 Optionee: 
 Grant Date: 
 Vesting Commencement Date: 

Exercise Price: $             per share 

Number of Option Shares:              shares of Common Stock

 Expiration Date: 
 Type of Option: 
 Date Exercisable: [Immediately Exercisable]

 Vesting Schedule: [The Option Shares shall initially be unvested and subject to repurchase by the Corporation at the
Exercise Price paid per share. Optionee shall acquire a vested interest in, and the Corporation’s repurchase right shall accordingly lapse with respect to, (i) twenty-five percent (25%) of the Option Shares upon Optionee’s
completion of one (1) year of Service measured from the Vesting Commencement Date and (ii) the balance of the Option Shares in a series of thirty-six (36) successive equal monthly installments upon Optionee’s completion of each
additional month of Service over the thirty-six (36)-month period measured from the first anniversary of the Vesting Commencement Date. In no event shall any additional Option Shares vest after Optionee’s cessation of Service.] 

Optionee understands and agrees that the Option is granted subject to and in accordance with the terms of the WageWorks, Inc. 2000 Stock
Option/Stock Issuance Plan (the “Plan”). Optionee further agrees to be bound by the terms of the Plan and the terms of the Option as set forth in the Stock Option Agreement attached hereto as Exhibit A. 

Optionee understands that any Option Shares purchased under the Option will be subject to the terms set forth in the Stock Purchase
Agreement attached hereto as Exhibit B. Optionee hereby acknowledges receipt of a copy of the Plan in the form attached hereto as Exhibit C. 

 REPURCHASE RIGHTS. OPTIONEE HEREBY AGREES THAT ALL OPTION SHARES ACQUIRED UPON THE
EXERCISE OF THE OPTION SHALL BE SUBJECT TO CERTAIN REPURCHASE RIGHTS AND RIGHTS OF FIRST REFUSAL EXERCISABLE BY THE CORPORATION AND ITS ASSIGNS. THE TERMS OF SUCH RIGHTS ARE SPECIFIED IN THE ATTACHED STOCK PURCHASE AGREEMENT. 

At Will Employment/Service. Nothing in this Notice or in the attached Stock Option Agreement or Plan shall confer upon Optionee
any right to continue in Service for any period of specific duration or interfere with or otherwise restrict in any way the rights of the Corporation (or any Parent or Subsidiary employing or retaining Optionee) or of Optionee, which rights are
hereby expressly reserved by each, to terminate Optionee’s Service at any time for any reason, with or without cause. 

Definitions. All capitalized terms in this Notice shall have the meaning assigned to them in this Notice or in the attached Stock
Option Agreement. 
 DATED:
                            ,
             
  

			
	WAGEWORKS, INC.
		
	By:	 	 
		
	Title:	 	 
		
		 	 
		 	OPTIONEE
		
	Address:	 	 
		
		 	 

 Attachments: 

Exhibit A - Stock Option Agreement with Addendum 
 Exhibit B - Stock Purchase Agreement with Addendum 
 Exhibit C - 2000 Stock Option/Stock
Issuance Plan 

  
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 EXHIBIT A 
 WAGEWORKS, INC. 
 STOCK OPTION AGREEMENT 

RECITALS 
 A. The
Board has adopted the Plan for the purpose of retaining the services of selected Employees, non-employee members of the Board or the board of directors of any Parent or Subsidiary and consultants and other independent advisors in the service of the
Corporation (or any Parent or Subsidiary). 
 B. Optionee is to render valuable services to the Corporation (or a Parent or
Subsidiary), and this Agreement is executed pursuant to, and is intended to carry out the purposes of, the Plan in connection with the Corporation’s grant of an option to Optionee. 

C. All capitalized terms in this Agreement shall have the meaning assigned to them in the attached Appendix. 

NOW, THEREFORE, it is hereby agreed as follows: 

1. Grant of Option. The Corporation hereby grants to Optionee, as of the Grant Date, an option to purchase up to the number
of Option Shares specified in the Grant Notice. The Option Shares shall be purchasable from time to time during the option term specified in Paragraph 2 at the Exercise Price. 

2. Option Term. This option shall have a term of not more than ten (10) years measured from the Grant Date unless
otherwise stated in the Grant Notice, and shall accordingly expire at the close of business on the Expiration Date, unless sooner terminated in accordance with Paragraph 5 or 6. 

3. Limited Transferability. 
 (a) This option shall be neither transferable nor assignable by Optionee, except that if the Optionee is an individual, it may be transferable or assignable only by will or the laws of inheritance
following Optionee’s death and may be exercised, during Optionee’s lifetime, only by Optionee. If the Optionee is an individual, Optionee may designate one or more persons as the beneficiary or beneficiaries of this option, and this option
shall, in accordance with such designation, automatically be transferred to such beneficiary or beneficiaries upon the Optionee’s death while holding this option. Such beneficiary or beneficiaries shall take the transferred option subject to
all the terms and conditions of this Agreement, including (without limitation) the limited time period during which this option may, pursuant to Paragraph 5, be exercised following Optionee’s death. 

(b) If this option is designated a Non-Statutory Option in the Grant Notice, and the Optionee is an individual, then this option may be
assigned in whole or in part 

 
during Optionee’s lifetime to one or more members of Optionee’s family or to a trust established for the exclusive benefit of one or more such family members or to Optionee’s
former spouse, to the extent such assignment is in connection with the Optionee’s estate plan or pursuant to a domestic relations order. The assigned portion shall be exercisable only by the person or persons who acquire a proprietary interest
in the option pursuant to such assignment. The terms applicable to the assigned portion shall be the same as those in effect for this option immediately prior to such assignment. 

4. Dates of Exercise. This option shall become exercisable for the Option Shares in one or more installments as specified in
the Grant Notice. As the option becomes exercisable for such installments, those installments shall accumulate, and the option shall remain exercisable for the accumulated installments until the Expiration Date or sooner termination of the option
term under Paragraph 5 or 6. 
 5. Cessation of Service. If the Optionee is an individual, the option term
specified in Paragraph 2 shall terminate (and this option shall cease to be outstanding) prior to the Expiration Date should any of the following provisions become applicable: 

(a) Should Optionee cease to remain in Service for any reason (other than death, Disability or Misconduct) while holding this option,
then Optionee shall have a period of three (3) months (commencing with the date of such cessation of Service) during which to exercise this option, but in no event shall this option be exercisable at any time after the Expiration Date.

 (b) Should Optionee die while holding this option, then the personal representative of Optionee’s estate or the person
or persons to whom the option is transferred pursuant to Optionee’s will or the laws of inheritance shall have the right to exercise this option. However, if Optionee has designated one or more beneficiaries of this option, then those persons
shall have the exclusive right to exercise this option following Optionee’s death. Any such right to exercise this option shall lapse, and this option shall cease to be outstanding, upon the earlier of (i) the expiration of the
twelve (12)-month period measured from the date of Optionee’s death or (ii) the Expiration Date. 
 (c) Should
Optionee cease Service by reason of Disability while holding this option, then Optionee shall have a period of twelve (12) months (commencing with the date of such cessation of Service) during which to exercise this option. In no event shall
this option be exercisable at any time after the Expiration Date. 
 Note: Exercise of this option on a date later than
three (3) months following cessation of Service due to Disability will result in loss of favorable Incentive Option treatment, unless such Disability constitutes Permanent Disability. In the event that Incentive Option treatment is not
available, this option will be taxed as a Non-Statutory Option upon exercise. 

  
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 (d) During the limited period of post-Service exercisability, this option may not be
exercised in the aggregate for more than the number of Option Shares in which Optionee is, at the time of Optionee’s cessation of Service, vested pursuant to the Vesting Schedule specified in the Grant Notice or the special vesting acceleration
provisions of Paragraph 6. Upon the expiration of such limited exercise period or (if earlier) upon the Expiration Date, this option shall terminate and cease to be outstanding for any vested Option Shares for which the option has not been
exercised. To the extent Optionee is not vested in one or more Option Shares at the time of Optionee’s cessation of Service, this option shall immediately terminate and cease to be outstanding with respect to those shares. 

(e) Should Optionee’s Service be terminated for Misconduct or should Optionee otherwise engage in Misconduct while this option is
outstanding, then this option shall terminate immediately and cease to remain outstanding. 
 The provision of (e) also applies to an
Optionee who is not an individual. 
 6. Accelerated Vesting. 

(a) Unless the Grant Notice or other supplemental notices provides otherwise, in the event of any Corporate Transaction, the Option
Shares at the time subject to this option but not otherwise vested shall automatically vest in full so that this option shall, immediately prior to the effective date of the Corporate Transaction, become exercisable for all of the Option Shares as
fully-vested shares and may be exercised for any or all of those Option Shares as vested shares. However, the Option Shares shall not vest on such an accelerated basis if and to the extent: (i) this option is assumed by the successor
corporation (or parent thereof) in the Corporate Transaction and the Corporation’s repurchase rights with respect to the unvested Option Shares are assigned to such successor corporation (or parent thereof) or (ii) this option is to be
replaced with a cash incentive program of the successor corporation which preserves the spread existing on the unvested Option Shares at the time of the Corporate Transaction (the excess of the Fair Market Value of those Option Shares over the
Exercise Price payable for such shares) and provides for subsequent payout in accordance with the same Vesting Schedule applicable to those unvested Option Shares as set forth in the Grant Notice. 

(b) Immediately following the Corporate Transaction, this option shall terminate and cease to be outstanding, except to the extent
assumed by the successor corporation (or parent thereof) in connection with the Corporate Transaction. 
 (c) If this option is
assumed in connection with a Corporate Transaction, then this option shall be appropriately adjusted, immediately after such Corporate Transaction, to apply to the number and class of securities which would have been issuable to Optionee in
consummation of such Corporate Transaction had the option been exercised immediately prior to such Corporate Transaction, and appropriate adjustments shall also be made to the Exercise Price, provided the aggregate Exercise Price shall remain
the same. To the extent the actual holders of the Corporation’s outstanding Common Stock receive cash consideration for their Common Stock in consummation of the Corporate Transaction, the successor corporation may, in connection with the
assumption of this option, substitute one or more shares 

  
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of its own common stock with a fair market value equivalent to the cash consideration paid per share of Common Stock in such Corporate Transaction. 

(d) This Agreement shall not in any way affect the right of the Corporation to adjust, reclassify, reorganize or otherwise change its
capital or business structure or to merge, consolidate, dissolve, liquidate or sell or transfer all or any part of its business or assets. 
 7. Adjustment in Option Shares. Should any change be made to the Common Stock by reason of any stock split, stock dividend, recapitalization, combination of shares, exchange of shares or
other change affecting the outstanding Common Stock as a class without the Corporation’s receipt of consideration, appropriate adjustments shall be made to (i) the total number and/or class of securities subject to this option and
(ii) the Exercise Price in order to reflect such change and thereby preclude a dilution or enlargement of benefits hereunder. 
 8. Stockholder Rights. The holder of this option shall not have any stockholder rights with respect to the Option Shares until such person shall have exercised the option, paid the Exercise
Price and become the record holder of the purchased shares. 
 9. Manner of Exercising Option.

 (a) In order to exercise this option with respect to all or any part of the Option Shares for which this option is at the
time exercisable, Optionee (or any other person or persons exercising the option) must take the following actions: 
 (i) Execute and deliver to the Corporation a Purchase Agreement for the Option Shares for which the option is exercised. 

(ii) Pay the aggregate Exercise Price for the purchased shares in one or more of the following forms: 

(A) cash or check made payable to the Corporation; or 

(B) a promissory note payable to the Corporation, but only to the extent authorized by the Plan Administrator in
accordance with Paragraph 14. 
 Should the Common Stock be registered under Section 12 of the 1934
Act at the time the option is exercised, then the Exercise Price may also be paid as follows: 
 (C) in shares
of Common Stock held by Optionee (or any other person or persons exercising the option) for the requisite period necessary to avoid a charge to the Corporation’s earnings 

  
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for financial reporting purposes and valued at Fair Market Value on the Exercise Date; or 
 (D) to the extent the option is exercised for vested Option Shares, through a special sale and remittance procedure pursuant to which Optionee (or any other person or persons exercising the option) shall
concurrently provide irrevocable instructions (a) to a Corporation-designated brokerage firm to effect the immediate sale of the purchased shares and remit to the Corporation, out of the sale proceeds available on the settlement date,
sufficient funds to cover the aggregate Exercise Price payable for the purchased shares plus all applicable Federal, state and local income and employment taxes required to be withheld by the Corporation by reason of such exercise and (b) to
the Corporation to deliver the certificates for the purchased shares directly to such brokerage firm in order to complete the sale. 
 Except to the extent the sale and remittance procedure is utilized in connection with the option exercise, payment of the Exercise Price must accompany the Purchase Agreement delivered to the Corporation
in connection with the option exercise. 
 (iii) Furnish to the Corporation appropriate documentation that the
person or persons exercising the option (if other than Optionee) have the right to exercise this option. 
 (iv)
Execute and deliver to the Corporation such written representations as may be requested by the Corporation in order for it to comply with the applicable requirements of Federal and state securities laws. 

(v) Make appropriate arrangements with the Corporation (or Parent or Subsidiary employing or retaining Optionee) for the
satisfaction of all Federal, state and local income and employment tax withholding requirements applicable to the option exercise. 
 (b) As soon as practical after the Exercise Date, the Corporation shall issue to or on behalf of Optionee (or any other person or persons exercising this option) a certificate for the purchased Option
Shares, with the appropriate legends affixed thereto. 
 (c) In no event may this option be exercised for any fractional shares.

 10. REPURCHASE RIGHTS. ALL OPTION SHARES ACQUIRED UPON THE EXERCISE OF THIS OPTION SHALL BE SUBJECT TO CERTAIN
RIGHTS OF THE CORPORATION AND ITS ASSIGNS TO REPURCHASE THOSE SHARES IN ACCORDANCE WITH THE TERMS SPECIFIED IN THE PURCHASE AGREEMENT. 

  
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 11. Compliance with Laws and Regulations. 

(a) The exercise of this option and the issuance of the Option Shares upon such exercise shall be subject to compliance by the
Corporation and Optionee with all applicable requirements of law relating thereto and with all applicable regulations of any stock exchange (or the Nasdaq National Market, if applicable) on which the Common Stock may be listed for trading at the
time of such exercise and issuance. 
 (b) The inability of the Corporation to obtain approval from any regulatory body having
authority deemed by the Corporation to be necessary to the lawful issuance and sale of any Common Stock pursuant to this option shall relieve the Corporation of any liability with respect to the non-issuance or sale of the Common Stock as to which
such approval shall not have been obtained. The Corporation, however, shall use its best efforts to obtain all such approvals. 

12. Successors and Assigns. Except to the extent otherwise provided in Paragraphs 3 and 6, the provisions of this
Agreement shall inure to the benefit of, and be binding upon, the Corporation and its successors and assigns and Optionee, Optionee’s assigns and the legal representatives, heirs and legatees of Optionee’s estate. 

13. Notices. Any notice required to be given or delivered to the Corporation under the terms of this Agreement shall be in
writing and addressed to the Corporation at its principal corporate offices. Any notice required to be given or delivered to Optionee shall be in writing and addressed to Optionee at the address indicated below Optionee’s signature line on the
Grant Notice. All notices shall be deemed effective upon personal delivery or upon deposit in the U.S. mail, postage prepaid and properly addressed to the party to be notified. 
 14. Financing. The Plan Administrator may, in its absolute discretion and without any obligation to do so, permit Optionee to pay the Exercise Price for the purchased Option Shares (to the
extent such Exercise Price is in excess of the par value of those shares) by delivering a full-recourse, interest-bearing promissory note secured by those Option Shares. The payment schedule in effect for any such promissory note shall be
established by the Plan Administrator in its sole discretion. 
 15. Construction. This Agreement and the option
evidenced hereby are made and granted pursuant to the Plan and are in all respects limited by and subject to the terms of the Plan. All decisions of the Plan Administrator with respect to any question or issue arising under the Plan or this
Agreement shall be conclusive and binding on all persons having an interest in this option. 
 16. Governing Law.
The interpretation, performance and enforcement of this Agreement shall be governed by the laws of the State of California without resort to that State’s conflict-of-laws rules. 

17. Stockholder Approval. If the Option Shares covered by this Agreement exceed, as of the Grant Date, the number of shares
of Common Stock which may be issued under 

  
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the Plan as last approved by the stockholders, then this option shall be void with respect to such excess shares, unless stockholder approval of an amendment sufficiently increasing the number of
shares of Common Stock issuable under the Plan is obtained in accordance with the provisions of the Plan. 
 18. Additional
Terms Applicable to an Incentive Option. In the event this option is designated an Incentive Option in the Grant Notice, the following terms and conditions shall also apply to the grant: 

(a) This option shall cease to qualify for favorable tax treatment as an Incentive Option if (and to the extent) this option is exercised
for one or more Option Shares: (i) more than three (3) months after the date Optionee ceases to be an Employee for any reason other than death or Permanent Disability or (ii) more than twelve (12) months after the date Optionee
ceases to be an Employee by reason of Permanent Disability. 
 (b) This option shall not become exercisable in the calendar year
in which granted if (and to the extent) the aggregate Fair Market Value (determined at the Grant Date) of the Common Stock for which this option would otherwise first become exercisable in such calendar year would, when added to the aggregate value
(determined as of the respective date or dates of grant) of the Common Stock and any other securities for which one or more other Incentive Options granted to Optionee prior to the Grant Date (whether under the Plan or any other option plan of the
Corporation or any Parent or Subsidiary) first become exercisable during the same calendar year, exceed One Hundred Thousand Dollars ($100,000) in the aggregate. To the extent the exercisability of this option is deferred by reason of the foregoing
limitation, the deferred portion shall become exercisable in the first calendar year or years thereafter in which the One Hundred Thousand Dollar ($100,000) limitation of this Paragraph 18(b) would not be contravened, but such deferral shall in all
events end immediately prior to the effective date of a Corporate Transaction in which this option is not to be assumed, whereupon the option shall become immediately exercisable as a Non-Statutory Option for the deferred portion of the Option
Shares. 
 (c) Should Optionee hold, in addition to this option, one or more other options to purchase Common Stock which become
exercisable for the first time in the same calendar year as this option, then the foregoing limitations on the exercisability of such options as Incentive Options shall be applied on the basis of the order in which such options are granted.

 19. Addendum. Any addendum made to this Agreement shall be incorporated by reference and shall be treated as an
integral part of this Agreement. To the extent that any provision in an addendum conflicts with the provisions of this Agreement, the provision of the addendum shall control. 

  
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 APPENDIX 

The following definitions shall be in effect under the Agreement: 

A. Agreement shall mean this Stock Option Agreement. 

B. Board shall mean the Corporation’s Board of Directors. 

C. Code shall mean the Internal Revenue Code of 1986, as amended. 

D. Common Stock shall mean the Corporation’s common stock. 

E. Corporate Transaction shall mean either of the following stockholder-approved transactions to which the Corporation is a
party: 
 (i) a merger or consolidation in which securities possessing more than fifty percent (50%) of the
total combined voting power of the Corporation’s outstanding securities are transferred to a person or persons different from the persons holding those securities immediately prior to such transaction, or 

(ii) the sale, transfer or other disposition of all or substantially all of the Corporation’s assets in complete
liquidation or dissolution of the Corporation. 
 F. Corporation shall mean WageWorks, Inc., a Delaware
corporation, and any successor corporation to all or substantially all of the assets or voting stock of WageWorks, Inc. which shall be appropriate action assume this option. 
 G. Disability shall mean the inability of Optionee to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment and shall be determined
by the Plan Administrator on the basis of such medical evidence as the Plan Administrator deems warranted under the circumstances. Disability shall be deemed to constitute Permanent Disability in the event that such Disability is expected to
result in death or has lasted or can be expected to last for a continuous period of twelve (12) months or more. 
 H.
Employee shall mean an individual who is in the employ of the Corporation (or any Parent or Subsidiary), subject to the control and direction of the employer entity as to both the work to be performed and the manner and method of
performance. 
 I. Exercise Date shall mean the date on which the option shall have been exercised in accordance
with Paragraph 9 of the Agreement. 
 J. Exercise Price shall mean the exercise price payable per Option
Share as specified in the Grant Notice. 

  
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 K. Expiration Date shall mean the date on which the option expires as
specified in the Grant Notice. 
 L. Fair Market Value per share of Common Stock on any relevant date shall be
determined in accordance with the following provisions: 
 (i) If the Common Stock is at the time traded on the
Nasdaq National Market, then the Fair Market Value shall be the closing selling price per share of Common Stock on the date in question, as the price is reported by the National Association of Securities Dealers on the Nasdaq National Market and
published in The Wall Street Journal. If there is no closing selling price for the Common Stock on the date in question, then the Fair Market Value shall be the closing selling price on the last preceding date for which such quotation exists.

 (ii) If the Common Stock is at the time listed on any Stock Exchange, then the Fair Market Value shall be the
closing selling price per share of Common Stock on the date in question on the Stock Exchange determined by the Plan Administrator to be the primary market for the Common Stock, as such price is officially quoted in the composite tape of
transactions on such exchange and published in The Wall Street Journal. If there is no closing selling price for the Common Stock on the date in question, then the Fair Market Value shall be the closing selling price on the last preceding
date for which such quotation exists. 
 (iii) If the Common Stock is at the time neither listed on any Stock
Exchange nor traded on the Nasdaq National Market, then the Fair Market Value shall be determined by the Plan Administrator after taking into account such factors as the Plan Administrator shall deem appropriate. 

M. Grant Date shall mean the date of grant of the option as specified in the Grant Notice. 

N. Grant Notice shall mean the Notice of Grant of Stock Option accompanying the Agreement, pursuant to which Optionee has
been informed of the basic terms of the option evidenced hereby. 
 O. Incentive Option shall mean an option which
satisfies the requirements of Code Section 422. 
 P. Misconduct shall mean the commission of any act of
fraud, embezzlement or dishonesty by Optionee, any unauthorized use or disclosure by Optionee of confidential information or trade secrets of the Corporation (or any Parent or Subsidiary), or any other intentional misconduct by Optionee adversely
affecting the business or affairs of the Corporation (or any Parent or Subsidiary) in a material manner. The foregoing definition shall not in any way preclude or restrict the right of the Corporation (or any Parent or Subsidiary) to discharge or
dismiss any Optionee, Participant or other person in the Service of the Corporation (or any 

  
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Parent or Subsidiary) for any other acts or omissions, but such other acts or omissions shall not be deemed, for purposes of the Plan, to constitute grounds for termination for Misconduct.

 Q. 1934 Act shall mean the Securities Exchange Act of 1934, as amended. 

R. Non-Statutory Option shall mean an option not intended to satisfy the requirements of Code Section 422. 

S. Option Shares shall mean the number of shares of Common Stock subject to the option. 

T. Optionee shall mean the person to whom the option is granted as specified in the Grant Notice. 

U. Parent shall mean any corporation (other than the Corporation) in an unbroken chain of corporations ending with the
Corporation, provided each corporation in the unbroken chain (other than the Corporation) owns, at the time of the determination, stock possessing fifty percent (50%) or more of the total combined voting power of all classes of stock in one of
the other corporations in such chain. 
 V. Plan shall mean the Corporation’s 2000 Stock Option/Stock
Issuance Plan. 
 W. Plan Administrator shall mean either the Board or a committee of the Board acting in its
capacity as administrator of the Plan. 
 X. Purchase Agreement shall mean the stock purchase agreement in
substantially the form of Exhibit B to the Grant Notice. 
 Y. Service shall mean the Optionee’s
performance of services for the Corporation (or any Parent or Subsidiary) in the capacity of an Employee, a non-employee member of the board of directors or an independent consultant. 

Z. Stock Exchange shall mean the American Stock Exchange or the New York Stock Exchange. 

AA. Subsidiary shall mean any corporation (other than the Corporation) in an unbroken chain of corporations beginning with
the Corporation, provided each corporation (other than the last corporation) in the unbroken chain owns, at the time of the determination, stock possessing fifty percent (50%) or more of the total combined voting power of all classes of stock
in one of the other corporations in such chain. 
 BB. Vesting Schedule shall mean the vesting schedule specified
in the Grant Notice pursuant to which the Optionee is to vest in the Option Shares in a series of installments over his or her period of Service. 

  
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 EXHIBIT B 
 WAGEWORKS, INC. 
 STOCK PURCHASE AGREEMENT 

AGREEMENT made this              day of
                    ,          by and between WageWorks, Inc., a Delaware corporation, and
                    , Optionee under the Corporation’s 2000 Stock Option/Stock Issuance Plan. 

All capitalized terms in this Agreement shall have the meaning assigned to them in this Agreement or in the attached Appendix.

  

	 	A.	EXERCISE OF OPTION 

1. Exercise. Optionee hereby purchases
                 shares of Common Stock (the “Purchased Shares”) pursuant to that certain option (the “Option”) granted Optionee on
                                         
    (the “Grant Date”) to purchase up to shares of Common Stock (the “Option Shares”) under the Plan at the exercise price of             
per share (the “Exercise Price”). 
 2. Payment. Concurrently with the delivery of this Agreement to the
Corporation, Optionee shall pay the Exercise Price for the Purchased Shares in accordance with the provisions of the Option Agreement and shall deliver whatever additional documents may be required by the Option Agreement as a condition for
exercise, together with a duly-executed blank Assignment Separate from Certificate (in the form attached hereto as Exhibit I) with respect to the Purchased Shares. 
 3. Stockholder Rights. Until such time as the Corporation exercises the Repurchase Right or the First Refusal Right, Optionee (or any successor in interest) shall have all the rights of a
stockholder (including voting, dividend and liquidation rights) with respect to the Purchased Shares, subject, however, to the transfer restrictions of Articles B and C. 

 

	 	B.	SECURITIES LAW COMPLIANCE 

 1. Restricted Securities. The Purchased Shares have not been registered under the 1933 Act and are being issued to Optionee in reliance upon the exemption from such registration provided by SEC Rule 701
for stock issuances under compensatory benefit plans such as the Plan. Optionee hereby confirms that Optionee has been informed that the Purchased Shares are restricted securities under the 1933 Act and may not be resold or transferred unless the
Purchased Shares are first registered under the Federal securities laws or unless an exemption from such registration is available. Accordingly, Optionee hereby acknowledges that Optionee is prepared to hold the Purchased Shares for an indefinite
period and that Optionee is aware that SEC Rule 144 issued under the 1933 Act which exempts certain resales of unrestricted securities is not presently available to exempt the resale of the Purchased Shares from the registration requirements of the
1933 Act. 

 2. Restrictions on Disposition of Purchased Shares. Optionee shall make no
disposition of the Purchased Shares (other than a Permitted Transfer) unless and until there is compliance with all of the following requirements: 
 (i) Optionee shall have provided the Corporation with a written summary of the terms and conditions of the proposed disposition. 

(ii) Optionee shall have complied with all requirements of this Agreement applicable to the disposition of the Purchased
Shares. 
 (iii) Optionee shall have provided the Corporation with written assurances, in form and substance
satisfactory to the Corporation, that (a) the proposed disposition does not require registration of the Purchased Shares under the 1933 Act or (b) all appropriate action necessary for compliance with the registration requirements of the
1933 Act or any exemption from registration available under the 1933 Act (including Rule 144) has been taken. 
 The Corporation
shall not be required (i) to transfer on its books any Purchased Shares which have been sold or transferred in violation of the provisions of this Agreement or (ii) to treat as the owner of the Purchased Shares, or otherwise
to accord voting, dividend or liquidation rights to, any transferee to whom the Purchased Shares have been transferred in contravention of this Agreement. 
 3. Restrictive Legends. The stock certificates for the Purchased Shares shall be endorsed with one or more of the following restrictive legends: 

“The shares represented by this certificate have not been registered under the Securities Act of 1933. The shares may
not be sold or offered for sale in the absence of (a) an effective registration statement for the shares under such Act, (b) a “no action” letter of the Securities and Exchange Commission with respect to such sale or offer or
(c) satisfactory assurances to the Corporation that registration under such Act is not required with respect to such sale or offer.” 
 “The shares represented by this certificate are subject to certain repurchase rights and rights of first refusal granted to the Corporation and accordingly may not be sold, assigned, transferred,
encumbered, or in any manner disposed of except in conformity with the terms of a written agreement dated                     ,
             between the Corporation and the registered holder of the shares (or the predecessor in interest to the shares). A copy of such agreement is maintained at the
Corporation’s principal corporate offices.” 

  
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	 	C.	TRANSFER RESTRICTIONS 

 1. Restriction on Transfer. Except for any Permitted Transfer, Optionee shall not transfer, assign, encumber or otherwise dispose of any of the Purchased Shares which are subject to the
Repurchase Right. In addition, Purchased Shares which are released from the Repurchase Right shall not be transferred, assigned, encumbered or otherwise disposed of in contravention of the First Refusal Right or the Market Stand-Off. 

2. Transferee Obligations. Each person (other than the Corporation) to whom the Purchased Shares are transferred by means
of a Permitted Transfer must, as a condition precedent to the validity of such transfer, acknowledge in writing to the Corporation that such person is bound by the provisions of this Agreement and that the transferred shares are subject to
(i) the Repurchase Right, (ii) the First Refusal Right and (iii) the Market Stand-Off, to the same extent such shares would be so subject if retained by Optionee. 

3. Market Stand-Off. 
 (a) In connection with any underwritten public offering by the Corporation of its equity securities pursuant to an effective registration statement filed under the 1933 Act, including the
Corporation’s initial public offering, Owner shall not sell, make any short sale of, loan, hypothecate, pledge, grant any option for the purchase of, or otherwise dispose or transfer for value or otherwise agree to engage in any of the
foregoing transactions with respect to, any Purchased Shares without the prior written consent of the Corporation or its underwriters. Such restriction (the “Market Stand-Off”) shall be in effect for such period of time from and after the
effective date of the final prospectus for the offering as may be requested by the Corporation or such underwriters. In no event, however, shall such period exceed one hundred eighty (180) days, and the Market Stand-Off shall in no event be
applicable to any underwritten public offering effected more than two (2) years after the effective date of the Corporation’s initial public offering. 
 (b) Owner shall be subject to the Market Stand-Off provided and only if the officers and directors of the Corporation are also subject to similar restrictions. 

(c) Any new, substituted or additional securities which are by reason of any Recapitalization or Reorganization distributed with respect
to the Purchased Shares shall be immediately subject to the Market Stand-Off, to the same extent the Purchased Shares are at such time covered by such provisions. 
 (d) In order to enforce the Market Stand-Off, the Corporation may impose stop-transfer instructions with respect to the Purchased Shares until the end of the applicable stand-off period. 

  
 3 

	 	D.	REPURCHASE RIGHT 

1. Grant. If the Optionee is an individual, the Corporation is hereby granted the right (the “Repurchase Right”),
exercisable at any time during the sixty (60)-day period following the date Optionee ceases for any reason to remain in Service or (if later) during the sixty (60)-day period following the execution date of this Agreement, to repurchase at the
Exercise Price any or all of the Purchased Shares in which Optionee is not, at the time of his or her cessation of Service, vested in accordance with the Vesting Schedule applicable to those shares or the special vesting acceleration provisions of
Paragraph D.6 of this Agreement (such shares to be hereinafter referred to as the “Unvested Shares”). If the Optionee is not an individual, the Corporation is hereby granted the Repurchase Right, exercisable at any time during the
sixty (60)-day period following the date Optionee ceases to be contracted to provide Services or (if later) during the sixty (60)-day period following the execution date of this Agreement, to repurchase at the Exercise Price any and all Unvested
Shares. 
 2. Exercise of the Repurchase Right. The Repurchase Right shall be exercisable by written notice
delivered to each Owner of the Unvested Shares prior to the expiration of the sixty (60)-day exercise period. The notice shall indicate the number of Unvested Shares to be repurchased and the date on which the repurchase is to be effected, such date
to be not more than thirty (30) days after the date of such notice. The certificates representing the Unvested Shares to be repurchased shall be delivered to the Corporation on the closing date specified for the repurchase. Concurrently with
the receipt of such stock certificates, the Corporation shall pay to Owner, in cash or cash equivalents (including the cancellation of any purchase-money indebtedness), an amount equal to the Exercise Price previously paid for the Unvested Shares
which are to be repurchased from Owner. 
 3. Termination of the Repurchase Right. The Repurchase Right shall
terminate with respect to any Unvested Shares for which it is not timely exercised under Paragraph D.2. In addition, the Repurchase Right shall terminate and cease to be exercisable with respect to any and all Purchased Shares in which Optionee
vests in accordance with the Vesting Schedule. All Purchased Shares as to which the Repurchase Right lapses shall, however, remain subject to (i) the First Refusal Right and (ii) the Market Stand-Off. 

4. Aggregate Vesting Limitation. If the Option is exercised in more than one increment so that Optionee is a party to one
or more other Stock Purchase Agreements (the “Prior Purchase Agreements”) which are executed prior to the date of this Agreement, then the total number of Purchased Shares as to which Optionee shall be deemed to have a fully-vested
interest under this Agreement and all Prior Purchase Agreements shall not exceed in the aggregate the number of Purchased Shares in which Optionee would otherwise at the time be vested, in accordance with the Vesting Schedule, had all the Purchased
Shares (including those acquired under the Prior Purchase Agreements) been acquired exclusively under this Agreement. 
 5.
Recapitalization. Any new, substituted or additional securities or other property (including cash paid other than as a regular cash dividend) which is by reason of any Recapitalization distributed with respect to the Purchased Shares
shall be immediately subject to the Repurchase Right and any escrow requirements hereunder, but only to the extent the 

  
 4 

 
Purchased Shares are at the time covered by such right or escrow requirements. Appropriate adjustments to reflect such distribution shall be made to the number and/or class of Purchased Shares
subject to this Agreement and to the price per share to be paid upon the exercise of the Repurchase Right in order to reflect the effect of any such Recapitalization upon the Corporation’s capital structure; provided, however, that the
aggregate purchase price shall remain the same. 
 6. Corporate Transaction. 

(a) The Repurchase Right shall automatically terminate in its entirety, and all the Purchased Shares shall vest in full, immediately prior
to the consummation of any Corporate Transaction, except to the extent the Repurchase Right is to be assigned to the successor entity in such Corporate Transaction. 
 (b) To the extent the Repurchase Right remains in effect following a Corporate Transaction, such right shall apply to any new securities or other property (including any cash payments) received in
exchange for the Purchased Shares in consummation of the Corporate Transaction, but only to the extent the Purchased Shares are at the time covered by such right. Appropriate adjustments shall be made to the price per share payable upon exercise of
the Repurchase Right to reflect the effect of the Corporate Transaction upon the Corporation’s capital structure; provided, however, that the aggregate purchase price shall remain the same. The new securities or other property (including
any cash payments) issued or distributed with respect to the Purchased Shares in consummation of the Corporate Transaction shall be immediately deposited in escrow with the Corporation (or the successor entity) and shall not be released from escrow
until Optionee vests in such securities or other property in accordance with the same Vesting Schedule in effect for the Purchased Shares. 
  

	 	E.	RIGHT OF FIRST REFUSAL 

1. Grant. The Corporation is hereby granted the right of first refusal (the “First Refusal Right”), exercisable in
connection with any proposed transfer of the Purchased Shares in which Optionee has vested in accordance with the provisions of Article D. For purposes of this Article E, the term “transfer” shall include any sale, assignment,
pledge, encumbrance or other disposition of the Purchased Shares intended to be made by Owner, but shall not include any Permitted Transfer. 
 2. Notice of Intended Disposition. In the event any Owner of Purchased Shares in which Optionee has vested desires to accept a bona fide third-party offer for the transfer of any or all of
such shares (the Purchased Shares subject to such offer to be hereinafter referred to as the “Target Shares”), Owner shall promptly (i) deliver to the Corporation written notice (the “Disposition Notice”) of the terms of the
offer, including the purchase price and the identity of the third-party offeror, and (ii) provide satisfactory proof that the disposition of the Target Shares to such third-party offeror would not be in contravention of the provisions set forth
in Articles B and C. 

  
 5 

 3. Exercise of the First Refusal Right. The Corporation shall, for a period of
twenty-five (25) days following receipt of the Disposition Notice, have the right to repurchase any or all of the Target Shares subject to the Disposition Notice upon the same terms as those specified therein or upon such other terms (not
materially different from those specified in the Disposition Notice) to which Owner consents. Such right shall be exercisable by delivery of written notice (the “Exercise Notice”) to Owner prior to the expiration of the twenty-five (25)-
day exercise period. If such right is exercised with respect to all the Target Shares, then the Corporation shall effect the repurchase of such shares, including payment of the purchase price, not more than five (5) business days after delivery
of the Exercise Notice; and at such time the certificates representing the Target Shares shall be delivered to the Corporation. 

Should the purchase price specified in the Disposition Notice be payable in property other than cash or evidences of indebtedness, the
Corporation shall have the right to pay the purchase price in the form of cash equal in amount to the value of such property. If Owner and the Corporation cannot agree on such cash value within ten (10) days after the Corporation’s receipt
of the Disposition Notice, the valuation shall be made by an appraiser of recognized standing selected by Owner and the Corporation or, if they cannot agree on an appraiser within twenty (20) days after the Corporation’s receipt of the
Disposition Notice, each shall select an appraiser of recognized standing and the two (2) appraisers shall designate a third appraiser of recognized standing, whose appraisal shall be determinative of such value. The cost of such appraisal
shall be shared equally by Owner and the Corporation. The closing shall then be held on the later of (i) the fifth (5th) business day following delivery of the Exercise Notice or (ii) the fifth (5th) business day after such
valuation shall have been made. 
 4. Non-Exercise of the First Refusal Right. In the event the Exercise Notice is
not given to Owner prior to the expiration of the twenty-five (25)-day exercise period, Owner shall have a period of thirty (30) days thereafter in which to sell or otherwise dispose of the Target Shares to the third-party offeror identified in
the Disposition Notice upon terms (including the purchase price) no more favorable to such third-party offeror than those specified in the Disposition Notice; provided, however, that any such sale or disposition must not be effected in
contravention of the provisions of Articles B and C. The third-party offeror shall acquire the Target Shares subject to the First Refusal Right and the provisions and restrictions of Article B and Paragraph C.3, and any subsequent
disposition of the acquired shares must be effected in compliance with the terms and conditions of such First Refusal Right and the provisions and restrictions of Article B and Paragraph C.3. In the event Owner does not effect such sale or
disposition of the Target Shares within the specified thirty (30)-day period, the First Refusal Right shall continue to be applicable to any subsequent disposition of the Target Shares by Owner until such right lapses. 

5. Partial Exercise of the First Refusal Right. In the event the Corporation makes a timely exercise of the First Refusal
Right with respect to a portion, but not all, of the Target Shares specified in the Disposition Notice, Owner shall have the option, exercisable by written notice to the Corporation delivered within five (5) business days after Owner’s
receipt of the Exercise Notice, to effect the sale of the Target Shares pursuant to either of the following alternatives: 

  
 6 

 (i) sale or other disposition of all the Target Shares to the third-party
offeror identified in the Disposition Notice, but in full compliance with the requirements of Paragraph E.4, as if the Corporation did not exercise the First Refusal Right; or 

(ii) sale to the Corporation of the portion of the Target Shares which the Corporation has elected to purchase, such sale
to be effected in substantial conformity with the provisions of Paragraph E.3. The First Refusal Right shall continue to be applicable to any subsequent disposition of the remaining Target Shares until such right lapses. 

Owner’s failure to deliver timely notification to the Corporation shall be deemed to be an election by Owner to sell the Target
Shares pursuant to alternative (i) above. 
 6. Recapitalization/Reorganization. 

(a) Any new, substituted or additional securities or other property which is by reason of any Recapitalization distributed with respect to
the Purchased Shares shall be immediately subject to the First Refusal Right, but only to the extent the Purchased Shares are at the time covered by such right. 
 (b) In the event of a Reorganization, the First Refusal Right shall remain in full force and effect and shall apply to the new capital stock or other property received in exchange for the Purchased Shares
in consummation of the Reorganization, but only to the extent the Purchased Shares are at the time covered by such right. 
 7.
Lapse. The First Refusal Right shall lapse upon the earliest to occur of (i) the first date on which shares of the Common Stock are held of record by more than five hundred (500) persons, (ii) a determination made
by the Board that a public market exists for the outstanding shares of Common Stock or (iii) a firm commitment underwritten public offering, pursuant to an effective registration statement under the 1933 Act, covering the offer and sale of the
Common Stock in the aggregate amount of at least twenty million dollars ($20,000,000). However, the Market Stand-Off shall continue to remain in full force and effect following the lapse of the First Refusal Right. 

 

	 	F.	SPECIAL TAX ELECTION 

 The acquisition of the Purchased Shares may result in adverse tax consequences which may be avoided or mitigated by filing an election under Code Section 83(b). Such election must be filed within
thirty (30) days after the date of this Agreement. A description of the tax consequences applicable to the acquisition of the Purchased Shares and the form for making the Code Section 83(b) election are set forth in Exhibit II.
OPTIONEE SHOULD CONSULT WITH ITS TAX ADVISOR TO DETERMINE THE TAX CONSEQUENCES OF ACQUIRING THE PURCHASED SHARES AND THE ADVANTAGES AND DISADVANTAGES OF FILING THE CODE SECTION 83(b) ELECTION. OPTIONEE ACKNOWLEDGES THAT IT IS OPTIONEE’S
SOLE RESPONSIBILITY, AND NOT 

  
 7 

 
THE CORPORATION’S, TO FILE A TIMELY ELECTION UNDER CODE SECTION 83(b), EVEN IF OPTIONEE REQUESTS THE CORPORATION OR ITS REPRESENTATIVES TO MAKE THIS FILING ON ITS BEHALF. 

 

	 	G.	GENERAL PROVISIONS 

 1.
Assignment. The Corporation may assign the Repurchase Right and/or the First Refusal Right to any person or entity selected by the Board, including (without limitation) one or more stockholders of the Corporation. 

2. At Will Employment. Nothing in this Agreement or in the Plan shall confer upon Optionee any right to provide Service or
to continue in Service for any period of specific duration or interfere with or otherwise restrict in any way the rights of the Corporation (or any Parent or Subsidiary employing or retaining Optionee) or of Optionee, which rights are hereby
expressly reserved by each, to terminate Optionee’s Service at any time for any reason, with or without cause. 
 3.
Notices. Any notice required to be given under this Agreement shall be in writing and shall be deemed effective upon personal delivery or upon deposit in the U.S. mail, registered or certified, postage prepaid and properly addressed to
the party entitled to such notice at the address indicated below such party’s signature line on this Agreement or at such other address as such party may designate by ten (10) days advance written notice under this paragraph to all other
parties to this Agreement. 
 4. No Waiver. The failure of the Corporation in any instance to exercise the
Repurchase Right or the First Refusal Right shall not constitute a waiver of any other repurchase rights and/or rights of first refusal that may subsequently arise under the provisions of this Agreement or any other agreement between the Corporation
and Optionee. No waiver of any breach or condition of this Agreement shall be deemed to be a waiver of any other or subsequent breach or condition, whether of like or different nature. 

5. Cancellation of Shares. If the Corporation shall make available, at the time and place and in the amount and form
provided in this Agreement, the consideration for the Purchased Shares to be repurchased in accordance with the provisions of this Agreement, then from and after such time, the person from whom such shares are to be repurchased shall no longer have
any rights as a holder of such shares (other than the right to receive payment of such consideration in accordance with this Agreement). Such shares shall be deemed purchased in accordance with the applicable provisions hereof, and the Corporation
shall be deemed the owner and holder of such shares, whether or not the certificates therefor have been delivered as required by this Agreement. 

  
 8 

	 	H.	MISCELLANEOUS PROVISIONS 

1. Optionee Undertaking. Optionee hereby agrees to take whatever additional action and execute whatever additional documents
the Corporation may deem necessary or advisable in order to carry out or effect one or more of the obligations or restrictions imposed on either Optionee or the Purchased Shares pursuant to the provisions of this Agreement. 

2. Agreement is Entire Contract. This Agreement constitutes the entire contract between the parties hereto with regard to
the subject matter hereof. This Agreement is made pursuant to the provisions of the Plan and shall in all respects be construed in conformity with the terms of the Plan. However, any addendum made to this Agreement shall be incorporated by reference
and shall be treated as an integral part of this Agreement. To the extent that any provision in an addendum conflicts with the provisions of this Agreement, the provision of the addendum shall control. 

3. Governing Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of
California without resort to that State’s conflict-of-laws rules. 
 4. Counterparts. This Agreement may be
executed in counterparts, each of which shall be deemed to be an original, but all of which together shall constitute one and the same instrument. 
 5. Successors and Assigns. The provisions of this Agreement shall inure to the benefit of, and be binding upon, the Corporation and its successors and assigns and upon Optionee,
Optionee’s permitted assigns and the legal representatives, heirs and legatees of Optionee’s estate, whether or not any such person shall have become a party to this Agreement and have agreed in writing to join herein and be bound by the
terms hereof. 

  
 9 

 IN WITNESS WHEREOF, the parties have executed this Agreement on the day and year
first indicated above. 
  

			
	WAGEWORKS, INC.
		
	By:	 	 
		
	Title:	 	 
		
	Address:	 	 
		
		 	 
		 	OPTIONEE
		
	Address:	 	 
		
		 	 

  
 10 

 SPOUSAL ACKNOWLEDGMENT 

(N/A if Optionee is not an individual) 
 The undersigned spouse of Optionee has read and hereby approves the foregoing Stock Purchase Agreement. In consideration of the Corporation’s granting Optionee the right to acquire the Purchased
Shares in accordance with the terms of such Agreement, the undersigned hereby agrees to be irrevocably bound by all the terms of such Agreement, including (without limitation) the right of the Corporation (or its assigns) to purchase any Purchased
Shares in which Optionee is not vested at time of his or her cessation of Service. 
  

			
		 	OPTIONEE’S SPOUSE
		
	Address:  	 	 
		
		 	
		 	 

 EXHIBIT I 
 ASSIGNMENT SEPARATE FROM CERTIFICATE 
 FOR VALUE RECEIVED
                     hereby sell(s), assign(s) and transfer(s) unto WageWorks, Inc. (the “Corporation”),
                    (                   
 ) shares of the Common Stock of the Corporation standing in his or her name on the books of the Corporation represented by Certificate No.
                     herewith and do(es) hereby irrevocably constitute and appoint
                             Attorney to transfer the said stock on the books of the Corporation with
full power of substitution in the premises. 
 Dated:
                                        

  

			
		
	Signature  	 	 

 Instruction: Please do not fill in
any blanks other than the signature line. Please sign exactly as you would like your name to appear on the issued stock certificate. The purpose of this assignment is to enable the Corporation to exercise the Repurchase Right without requiring
additional signatures on the part of Optionee. 

 EXHIBIT II 
 FEDERAL INCOME TAX CONSEQUENCES AND 
 SECTION 83(b) TAX ELECTION

 I. Federal Income Tax Consequences and Section 83(b) Election For Exercise of Non-Statutory Option. If
the Purchased Shares are acquired pursuant to the exercise of a Non-Statutory Option, as specified in the Grant Notice, then under Code Section 83, the excess of the Fair Market Value of the Purchased Shares on the date any forfeiture
restrictions applicable to such shares lapse over the Exercise Price paid for those shares will be reportable as ordinary income on the lapse date. For this purpose, the term “forfeiture restrictions” includes the right of the Corporation
to repurchase the Purchased Shares pursuant to the Repurchase Right. However, Optionee may elect under Code Section 83(b) to be taxed at the time the Purchased Shares are acquired, rather than when and as such Purchased Shares cease to be
subject to such forfeiture restrictions. Such election must be filed with the Internal Revenue Service within thirty (30) days after the date of the Agreement. Even if the Fair Market Value of the Purchased Shares on the date of the Agreement
equals the Exercise Price paid (and thus no tax is payable), the election must be made to avoid adverse tax consequences in the future. The form for making this election is attached as part of this exhibit. FAILURE TO MAKE THIS FILING WITHIN THE
APPLICABLE THIRTY (30)-DAY PERIOD WILL RESULT IN THE RECOGNITION OF ORDINARY INCOME BY OPTIONEE AS THE FORFEITURE RESTRICTIONS LAPSE. 
 II. Federal Income Tax Consequences and Conditional Section 83(b) Election For Exercise of Incentive Option. If the Purchased Shares are acquired pursuant to the exercise of an
Incentive Option, as specified in the Grant Notice, then the following tax principles shall be applicable to the Purchased Shares: 
 (i) For regular tax purposes, no taxable income will be recognized at the time the Option is exercised. 
 (ii) The excess of (a) the Fair Market Value of the Purchased Shares on the date the Option is exercised or (if later) on the date any forfeiture restrictions applicable to the Purchased Shares lapse
over (b) the Exercise Price paid for the Purchased Shares will be includible in Optionee’s taxable income for alternative minimum tax purposes. 
 (iii) If Optionee makes a disqualifying disposition of the Purchased Shares, then Optionee will recognize ordinary income in the year of such disposition equal in amount to the excess of (a) the Fair
Market Value of the Purchased Shares on the date the Option is exercised or (if later) on the date any forfeiture restrictions applicable to the Purchased Shares lapse over (b) the Exercise Price paid for the Purchased Shares. Any additional
gain recognized upon the disqualifying disposition will be either short-term or long-term capital gain depending upon the period for which the Purchased Shares are held prior to the disposition. 

  
 II-1

 (iv) For purposes of the foregoing, the term
“forfeiture restrictions” will include the right of the Corporation to repurchase the Purchased Shares pursuant to the Repurchase Right. The term “disqualifying disposition” means any sale or other disposition1 of the Purchased Shares within two (2) years after the Grant
Date or within one (1) year after the exercise date of the Option. 
 (v) In the absence of final Treasury
Regulations relating to Incentive Options, it is not certain whether Optionee may, in connection with the exercise of the Option for any Purchased Shares at the time subject to forfeiture restrictions, file a protective election under Code
Section 83(b) which would limit Optionee’s ordinary income upon a disqualifying disposition to the excess of the Fair Market Value of the Purchased Shares on the date the Option is exercised over the Exercise Price paid for the Purchased
Shares. Accordingly, such election if properly filed will only be allowed to the extent the final Treasury Regulations permit such a protective election. 
 (vi) The Code Section 83(b) election will be effective in limiting the Optionee’s alternative minimum taxable income to the excess of the Fair Market Value of the Purchased Shares at the time
the Option is exercised over the Exercise Price paid for those shares. 
 Page 2 of the attached form for making the election
should be filed with any election made in connection with the exercise of an Incentive Option. 
  

	1	 Generally, a disposition of shares purchased under an Incentive Option includes any transfer of legal title, including a transfer by sale, exchange or
gift, but does not include a transfer to the Optionee’s spouse, a transfer into joint ownership with right of survivorship if Optionee remains one of the joint owners, a pledge, a transfer by bequest or inheritance or certain tax-free exchanges
permitted under the Code. 

  
 II-2

 SECTION 83(b) ELECTION 

This statement is being made under Section 83(b) of the Internal Revenue Code, pursuant to Treas. Reg. Section 1.83-2.

  

	(1)	The taxpayer who performed the services is: 

 Name: 
 Address: 

Taxpayer Ident. No.: 
  

	(2)	The property with respect to which the election is being made is
                     shares of the common stock of WageWorks, Inc. 

 

	(3)	The property was issued on
                            . 

 

	(4)	The taxable year in which the election is being made is the calendar year 200        . 

 

	(5)	The property is subject to a repurchase right pursuant to which the issuer has the right to acquire the property at the original purchase price if for any reason
taxpayer’s service with the issuer terminates. The issuer’s repurchase right will lapse in a series of annual and monthly installments over a four (4)-year period ending on
                    . 

  

	(6)	The fair market value at the time of transfer (determined without regard to any restriction other than a restriction which by its terms will never lapse) is $
         per share. 

  

	(7)	The amount paid for such property is                      per share.

  

	(8)	A copy of this statement was furnished to WageWorks, Inc. for whom taxpayer rendered the services underlying the transfer of property. 

 

	(9)	This statement is executed on                     ,
200    . 

  

					
			
	  	 		 	  
	Spouse (if applicable)	 		 	Taxpayer

 This election must be filed with the Internal
Revenue Service Center with which taxpayer files his or her Federal income tax returns and must be made within thirty (30) days after the execution date of the Stock Purchase Agreement. This filing should be made by registered or certified
mail, return receipt requested. Optionee must retain two (2) copies of the completed form for filing with his or her Federal and state tax returns for the current tax year and an additional copy for his or her records. 

 (N/A)The property described in the above Section 83(b) election is comprised of shares
of common stock acquired pursuant to the exercise of an incentive stock option under Section 422 of the Internal Revenue Code (the “Code”). Accordingly, it is the intent of the Taxpayer to utilize this election to achieve the
following tax results: 
 1. One purpose of this election is to have the alternative minimum taxable income attributable to the
purchased shares measured by the amount by which the fair market value of such shares at the time of their transfer to the Taxpayer exceeds the purchase price paid for the shares. In the absence of this election, such alternative minimum taxable
income would be measured by the spread between the fair market value of the purchased shares and the purchase price which exists on the various lapse dates in effect for the forfeiture restrictions applicable to such shares. 

2. Section 421(a)(1) of the Code expressly excludes from income any excess of the fair market value of the purchased shares over the
amount paid for such shares. Accordingly, this election is also intended to be effective in the event there is a “disqualifying disposition” of the shares, within the meaning of Section 421(b) of the Code, which would otherwise render
the provisions of Section 83(a) of the Code applicable at that time. Consequently, the Taxpayer hereby elects to have the amount of disqualifying disposition income measured by the excess of the fair market value of the purchased shares on the
date of transfer to the Taxpayer over the amount paid for such shares. Since Section 421(a) presently applies to the shares which are the subject of this Section 83(b) election, no taxable income is actually recognized for regular tax
purposes at this time, and no income taxes are payable, by the Taxpayer as a result of this election. The foregoing election is to be effective to the full extent permitted under the Code. 
 THIS PAGE 2 IS TO BE ATTACHED TO ANY SECTION 83(b) ELECTION FILED IN CONNECTION WITH THE EXERCISE OF AN INCENTIVE STOCK OPTION UNDER THE FEDERAL TAX LAWS. 

  
 2 

 APPENDIX 

The following definitions shall be in effect under the Agreement: 

A. Agreement shall mean this Stock Option Agreement. 

B. Board shall mean the Corporation’s Board of Directors. 

C. Code shall mean the Internal Revenue Code of 1986, as amended. 

D. Common Stock shall mean the Corporation’s common stock. 

E. Corporate Transaction shall mean either of the following stockholder-approved transactions to which the Corporation is a
party: 
 (i) a merger or consolidation in which securities possessing more than fifty percent (50%) of the
total combined voting power of the Corporation’s outstanding securities are transferred to a person or persons different from the persons holding those securities immediately prior to such transaction, or 

(ii) the sale, transfer or other disposition of all or substantially all of the Corporation’s assets in complete
liquidation or dissolution of the Corporation. 
 F. Corporation shall mean WageWorks, Inc., a Delaware
corporation, and any successor corporation to all or substantially all of the assets or voting stock of WageWorks, Inc. which shall be appropriate action assume this option. 
 G. Disposition Notice shall have the meaning assigned to such term in Paragraph E.2. 
 H. Exercise Price shall have the meaning assigned to such term in Paragraph A.1. 
 I. Fair Market Value of a share of Common Stock on any relevant date, prior to the initial public offering of the Common Stock, shall be determined by the Plan Administrator after taking
into account such factors as it shall deem appropriate. 
 J. First Refusal Right shall mean the right granted to
the Corporation in accordance with Article E. 
 K. Grant Date shall have the meaning assigned to such term
in Paragraph A.1. 
 L. Grant Notice shall mean the Notice of Grant of Stock Option pursuant to which Optionee has
been informed of the basic terms of the Option. 

  
 A-1

 M. Incentive Option shall mean an option which satisfies the requirements of
Code Section 422. 
 N. Market Stand-Off shall mean the market stand-off restriction specified in Paragraph
C.3. 
 O. 1933 Act shall mean the Securities Act of 1933, as amended. 

P. 1934 Act shall mean the Securities Exchange Act of 1934, as amended. 

Q. Non-Statutory Option shall mean an option not intended to satisfy the requirements of Code Section 422. 

R. Option shall have the meaning assigned to such term in Paragraph A.1. 

S. Option Agreement shall mean all agreements and other documents evidencing the Option. 

T. Optionee shall mean the person to whom the Option is granted under the Plan. 

U. Owner shall mean Optionee and all subsequent holders of the Purchased Shares who derive their chain of ownership through
a Permitted Transfer from Optionee. 
 V. Parent shall mean any corporation (other than the Corporation) in an
unbroken chain of corporations ending with the Corporation, provided each corporation in the unbroken chain (other than the Corporation) owns, at the time of the determination, stock possessing fifty percent (50%) or more of the total combined
voting power of all classes of stock in one of the other corporations in such chain. 
 W. Permitted Transfer
shall mean (i) a gratuitous transfer of the Purchased Shares, provided and only if Optionee obtains the Corporation’s prior written consent to such transfer, (ii) a transfer of title to the Purchased Shares effected pursuant to
Optionee’s will or the laws of inheritance following Optionee’s death or (iii) a transfer to the Corporation in pledge as security for any purchase-money indebtedness incurred by Optionee in connection with the acquisition of the
Purchased Shares. 
 X. Plan shall mean the Corporation’s 2000 Stock Option/Stock Issuance Plan. 

Y. Plan Administrator shall mean either the Board or a committee of the Board acting in its capacity as administrator of
the Plan. 
 Z. Prior Purchase Agreement shall have the meaning assigned to such term in Paragraph D.4.

 AA. Purchased Shares shall have the meaning assigned to such term in Paragraph A.1. 

  
 A-2

 BB. Recapitalization shall mean any stock split, stock dividend,
recapitalization, combination of shares, exchange of shares or other change affecting the Corporation’s outstanding Common Stock as a class without the Corporation’s receipt of consideration. 

CC. Reorganization shall mean any of the following transactions: 

(i) a merger or consolidation in which the Corporation is not the surviving entity, 

(ii) a sale, transfer or other disposition of all or substantially all of the Corporation’s assets, 

(iii) a reverse merger in which the Corporation is the surviving entity but in which the Corporation’s outstanding
voting securities are transferred in whole or in part to a person or persons different from the persons holding those securities immediately prior to the merger, or 

(iv) any transaction effected primarily to change the state in which the Corporation is incorporated or to create a
holding company structure. 
 DD. Repurchase Right shall mean the right granted to the Corporation in accordance
with Article D. 
 EE. SEC shall mean the Securities and Exchange Commission. 

FF. Service shall mean the Optionee’s performance of services for the Corporation (or any Parent or Subsidiary) in the
capacity of an employee, subject to the control and direction of the employer entity as to both the work to be performed and the manner and method of performance, a non-employee member of the board of directors or an independent consultant.

 GG. Subsidiary shall mean any corporation (other than the Corporation) in an unbroken chain of corporations
beginning with the Corporation, provided each corporation (other than the last corporation) in the unbroken chain owns, at the time of the determination, stock possessing fifty percent (50%) or more of the total combined voting power of all
classes of stock in one of the other corporations in such chain. 
 HH. Target Shares shall have the meaning
assigned to such term in Paragraph E.2. 
 II. Vesting Schedule shall mean the vesting schedule specified in the
Grant Notice pursuant to which the Optionee is to vest in the Option Shares in a series of installments over his or her period of Service. 
 JJ. Unvested Shares shall have the meaning assigned to such term in Paragraph D.1. 

  
 A-3Form of Amended and Restated Executive Severance Benefit Agreement

 Exhibit 10.9 
 AMENDED AND RESTATED 
 EXECUTIVE SEVERANCE BENEFIT AGREEMENT

 THIS AMENDED AND RESTATED AGREEMENT is entered into by and between WageWorks, Inc., a Delaware corporation (the
“Corporation”), and                      (the “Executive”), effective
                     (the “Effective Date”). 
 WHEREAS, the Parties previously entered into an executive severance benefit agreement, dated
                    , restated on
                     and amended and restated on
                     (the “Severance Agreement”), which will provide the Executive with severance payments and
benefits should his or her employment terminate under certain defined circumstances, with an enhanced level of such payments and benefits to be provided following certain changes in ownership or control of the Corporation. 

WHEREAS, the Corporation and Executive desire to amend certain provisions of the Severance Agreement in order to revise certain
definitions and clarify certain terms of the Severance Agreement, as set forth below. 
 NOW, THEREFORE, for good and
valuable consideration, Executive and the Corporation agree that the Severance Agreement is hereby amended and restated as follows: 
 PART ONE – DEFINITIONS 
 For purposes of this Agreement, the following
definitions shall be in effect: 
 Board means the Corporation’s Board of Directors. 

Change in Control means the occurrence of any of the following events: 

(i) Change in Ownership of the Corporation. A change in the ownership of the Corporation which occurs on the date
that any one person, or a related group of persons (as such term is used in Section 13(d) and 14(d) of the Securities and Exchange Act, as amended), (“Person”) acquires, directly or indirectly acquires ownership of the stock of the
Corporation that, together with the stock held by such Person or group, constitutes more than 50% of the total voting power of the stock of the Corporation, except that any change in the ownership of the stock of the Corporation (a) as a result
of a private financing of the Corporation that is approved by the Board or (b) as a result of acquisition of ownership of additional stock by a shareholder of the Corporation that beneficially owns at least two percent (2%) of the
outstanding stock as of the date of this Agreement, will not be considered a Change in Control; or 
 (ii)
Change in Effective Control of the Corporation. If the Corporation has a class of securities registered pursuant to Section 12 of the Securities Exchange Act of 1934, as amended, a change in the effective control of the Corporation which
occurs on the date that a majority of members of the Board is replaced during any twelve (12) month period by directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of the appointment
or election. For purposes of this clause (ii), if any Person is considered to be in effective control of the Corporation, 

 
the acquisition of additional control of the Corporation by the same Person will not be considered a Change in Control; or 

(iii) Change in Ownership of a Substantial Portion of the Corporation’s Assets. A change in the ownership of a
substantial portion of the Corporation’s assets which occurs on the date that any Person acquires (or has acquired during the twelve (12) month period ending on the date of the most recent acquisition by such person or persons) assets from
the Corporation that have a total gross fair market value equal to or more than 50% of the total gross fair market value of all of the assets of the Corporation immediately prior to such acquisition or acquisitions. For purposes of this subsection
(iii), gross fair market value means the fair market value of the assets of the Corporation, or the value of the assets being disposed of, determined without regard to any liabilities associated with such assets. 

For purposes of this definition, persons will be considered to be acting as a group if they are owners of a corporation
that enters into a merger, consolidation, purchase or acquisition of stock, or similar business transaction with the Corporation. 
 Notwithstanding the foregoing, a transaction will not be deemed a Change in Control unless the transaction qualifies as a change in control event within the meaning of Code Section 409A, as it has
been and may be amended from time to time, and any proposed or final Treasury Regulations and Internal Revenue Service guidance that has been promulgated or may be promulgated thereunder from time to time. 

Further and for the avoidance of doubt, a transaction will not constitute a Change in Control if: (i) its sole
purpose is to change the jurisdiction of the Corporation’s incorporation, or (ii) its sole purpose is to create a holding company that will be owned in substantially the same proportions by the persons who held the Corporation’s
securities immediately before such transaction.” 
 Change in Control Severance Benefits means the various payments
and benefits to which the Executive may become entitled under Part Three of this Agreement. 
 Change in Control Severance
Period means the period commencing with the Corporation’s execution of the definitive agreement for a Change in Control transaction and continuing until the earlier of (i) the termination of such definitive agreement
without the consummation of the contemplated Change in Control or (ii) the end of the twelve (12)-month period measured from the closing date of that Change in Control. 

Code means the Internal Revenue Code of 1986, as amended. 

Common Stock means the Corporation’s common stock. 

Competing Business means any entity, business enterprise or division thereof that sells administration services for consumer direct
accounts such as flexible spending accounts, health reimbursement accounts, COBRA accounts or qualified transportation fringe benefits as defined in the Code and any other similar types of pre-tax benefit accounts. 

  
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 Incapacity means the inability of the Executive, by reason of any injury or illness,
to properly perform the Executive’s normal duties and responsibilities of his or her position with the Corporation for a period of more than one hundred eighty (180) consecutive days. 

Involuntary Termination means (i) the Corporation’s unilateral termination of the Executive’s employment for any
reason other than a Termination for Cause or (ii) the Executive’s voluntary resignation within ninety (90) days following (A) a material reduction in the Executive’s base salary, other than pursuant to a uniform reduction in
the base salary payable to all senior executives of the Corporation for the year of termination, or (B) a material change in the geographic location of the Executive’s principal place of employment without reimbursement for reasonable
relocation costs; provided, however, the Executive must provide written notice to the Corporation of the existence of a condition described in clause A or B within thirty (30) days of the initial existence of the condition, and if
within thirty (30) days of the Corporation’s receipt of such notice the Corporation remedies such condition, an Involuntary Termination will not be deemed to have occurred. For purposes of the foregoing, a reduction in the Executive’s
base salary (other than pursuant to a uniform reduction in the base salary payable to all senior executives of the Corporation for the year of termination) by more than fifteen percent (15%) shall be deemed to be a material reduction of the
Executive’s base salary. 
 Option means any option granted to the Executive under the Plan or otherwise to purchase
shares of Common Stock which is outstanding at the time of the Executive’s Involuntary Termination. 
 Plan means
(i) the Corporation’s 2000 Stock Option/Stock Issuance Plan, as amended or restated from time to time, (ii) the Corporation’s 2010 Equity Incentive Plan, and (iii) any successor stock incentive plan subsequently implemented
by the Corporation. 
 Separation from Service means the cessation of Executive’s status as an Employee of the
Corporation and shall be deemed to occur at such time as the level of the bona fide services Executive is to perform as an Employee (or as a consultant or other independent contractor) permanently decreases to a level that is not more than twenty
percent (20%) of the average level of services Executive rendered in Employee status during the immediately preceding thirty-six (36) months (or such shorter period for which Executive may have rendered such service). Any such
determination as to Separation from Service, however, shall be made in accordance with the applicable standards of the Treasury Regulations issued under Section 409A of the Code. For purposes of determining whether Executive has incurred a
Separation from Service, Executive will be deemed to continue in “Employee” status for so long as he or she remains in the employ of one or more members of the Employer Group, subject to the control and direction of the employer
entity as to both the work to be performed and the manner and method of performance. “Employer Group” means the Corporation and any other corporation or business controlled by, controlling or under common control with, the
Corporation as determined in accordance with Sections 414(b) and (c) of the Code and the Treasury Regulations thereunder, except that in applying Sections 1563(1), (2) and (3) for purposes of determining the controlled group of
corporations under Section 414(b), the phrase “at least 50 percent” shall be used instead of “at least 80 percent” each place the latter phrase appears in such sections, and in applying Section 1.414(c)-2 of the
Treasury Regulations for purposes of determining trades or 

  
 Page 3 of 14

 
businesses that are under common control for purposes of Section 414(c), the phrase “at least 50 percent” shall be used instead of “at least 80 percent” each place the
latter phrase appears in Section 1.4.14(c)-2 of the Treasury Regulations. In addition to the foregoing, a Separation from Service will not be deemed to have occurred while the Executive is on a sick leave or other bona fide leave of absence if
the period of such leave does not exceed six (6) months or any longer period for which the Executive is provided with a right to reemployment with the Corporation either by statute or contract; provided, however, that in the event of a leave of
absence due to any medically determinable physical or mental impairment that can be expected to result in death or to last for a continuous period of not less than six (6) months and that causes the Executive to be unable to perform his duties
as an Employee, no Separation from Service shall be deemed to occur during the first twenty-nine (29) months of such leave. If the period of leave exceeds six (6) months (or twenty-nine (29) months in the event of disability as
indicated above) and the Executive is not provided with a right to reemployment by either statute or contract, then the Executive will be deemed to have Separated from Service on the first day immediately following the expiration of the applicable
six (6)-month or twenty-nine (29)-month period. 
 Termination for Cause means the termination of the Executive’s
employment by the Corporation due to (i) the continued failure of the Executive to perform the duties, responsibilities and obligations of the Executive’s position with the Corporation after written notice from the Corporation identifying
the performance deficiencies and a reasonable cure period of at least thirty (30) days, (ii) the commission of any act of fraud, embezzlement or dishonesty by the Executive or the Executive’s commission of a felony, (iii) any
intentional use or intentional disclosure by the Executive of confidential information or trade secrets of the Corporation (or any parent or subsidiary), (iv) any other intentional misconduct by the Executive adversely affecting the business or
affairs of the Corporation, (v) the Executive’s failure to cure any breach of the Executive’s obligations under his or her Proprietary Information and Inventions Agreement with the Corporation after written notice of such breach from
the Corporation and a reasonable cure period of at least thirty (30) days or (vi) the Executive’s breach of any of the Executive’s fiduciary duties as an officer of the Corporation. The foregoing definition shall not be deemed to
be inclusive of all the acts or omissions which the Corporation (or any parent or subsidiary) may consider as grounds for the dismissal or discharge of the Executive or any other individual in the service of the Corporation (or any parent or
subsidiary), but a dismissal for such other acts or omissions shall not constitute a Termination for Cause for purposes of this Agreement. 
 PART TWO – NORMAL SEVERANCE BENEFITS 
 1. Entitlement.
If the Executive’s employment is terminated by reason of an Involuntary Termination at any time other than during the Change in Control Severance Period, then the Executive shall become eligible to receive the severance benefits provided under
this Part Two. Those benefits shall be in lieu of any other severance benefits for which the Executive might otherwise be eligible by reason of the Executive’s termination of employment or Separation from Service under such circumstances.

 Notwithstanding the foregoing, the Executive’s entitlement to severance benefits under this Part Two shall be subject to
the following requirements (the “Severance Benefit Conditions”): 

  
 Page 4 of 14

 A. In order to receive any severance benefits under this Part Two, but not less than an
amount equal to one (1) month of salary continuation payments and at least one (1) month of reimbursed Coverage Costs under Section 2(a) and 2(b) of this Part Two, the Executive must comply with each of the following requirements:

 (i) The Executive shall, within sixty (60) days of the date after such Separation from Service, execute
and deliver to the Corporation a Severance & General Release Agreement, in substantially the form of attached Exhibit A hereto (the “Release”) which must become effective and irrevocable, in accordance with applicable law, no
later than sixty (60) days following such Separation from Service (such deadline, the “Release Deadline”). If the Release does not become effective and irrevocable by the Release Deadline, the Executive will forfeit any rights to
severance benefits under this Agreement. No severance benefits will be paid or provided until the Release becomes effective and irrevocable. Upon the Release becoming effective, any payments delayed from the date of the Executive’s Separation
from Service through the effective date of the Release will be payable in a lump sum without interest as soon as administratively practicable after the Release becomes effective and irrevocable and all other amounts will be payable in accordance
with the payment schedule applicable to each payment or benefit. In the event the termination occurs at a time during the calendar year where the Release Deadline is in the calendar year following the calendar year in which the Executive’s
Separation from Service occurs, then any severance payments under this Agreement that would be considered deferred compensation under Code Section 409A will be paid on, or in the case of installments, will not commence until, the 61st day after
the Executive’s Separation from Service, or such later date as provided in Section 8 of Part Four of this Agreement. 
 The provisions of this Agreement are intended to comply with the requirements of Code Section 409A so that none of the severance payments and benefits to be provided hereunder will be subject to the
additional tax imposed under Code Section 409A, and any ambiguities or ambiguous terms herein will be interpreted to so comply. The Corporation and the Executive agree to work together in good faith to consider amendments to this Agreement and
to take such reasonable actions which are necessary, appropriate or desirable to avoid imposition of any additional tax or income recognition prior to actual payment to the Executive under Code Section 409A.” 

(ii) The Executive shall comply with all of Executive’s obligations under the Executive’s Proprietary
Information and Inventions Agreement with the Corporation, attached as Exhibit B hereto (“PIIA”). 
 B. In order to
receive additional severance benefits under this Part Two in excess of one (1) month of salary continuation payments and one (1) month of reimbursed Coverage Costs (“Additional Severance Benefits”), the Executive must comply with
each of the additional requirements as follows: 
 (i) The Executive must comply with all of the Executive’s
obligations under the PIIA that survive the termination of his or her employment with the Corporation. 

  
 Page 5 of 14

 (ii) The Executive must comply with the restrictive covenants set forth in
Section 9 of Part Four of this Agreement during each successive month for which he or she is to receive salary continuation payments, reimbursement of Coverage Costs and a tax gross-up payment related to such reimbursed Coverage Costs under
Section 2 of this Part Two. 
 In the event the Executive violates the PIIA, or elects to engage or otherwise engages in any of the
activities precluded by the restrictive covenants set forth in Section 9 of Part Four of this Agreement, the Executive shall not be entitled, after the date of such violation or activity (as the case may be), to receive any Additional Severance
Benefits. 
 2. Severance Benefits. Subject to the requirements of Section 1 of this Part Two, the severance
benefits to which the Executive may become entitled under this Part Two shall consist of the following: 
 (a) Salary
Continuation Payments. The Executive shall be eligible to receive his or her base salary for a total period of six (6) months at the annualized rate in effect for him or her at the time of his or her Involuntary Termination;
provided, however, that if Executive voluntarily terminates employment within sixty (60) days following a material reduction in his or her base salary that constitutes an Involuntary Termination, then such salary continuation payments shall be
based on the annualized rate of base salary in effect for the Executive immediately prior to such reduction. The salary continuation payments shall be made at periodic intervals in accordance with the Corporation’s payroll practices for
salaried employees, beginning with the first pay date within the sixty (60)-day period measured from the date of Executive’s Separation from Service due to such Involuntary Termination on which the requisite Release is effective. In no event
shall the first such payment be made later than the last day of such sixty (60)-day period on which the Release is so effective, unless a further deferral is required pursuant to Section 8 of this Agreement. The salary continuation payments to
which Executive becomes entitled in accordance with this Section 2(a) (or Section 5(a), if applicable) shall be treated as a right to a series of separate payments for purposes of Section 409A of the Code, and each such payment that
becomes due and payable during the period commencing with the date of Executive’s Separation from Service and ending on March 15 of the succeeding calendar year is hereby designated a “Short-Term Deferral Payment” and shall be
paid during that period. 
 (b) Health Care Coverage. Provided the Executive and his or her eligible
dependants elect to continue medical care coverage under the Corporation’s group health care plans pursuant to the applicable COBRA provisions, the Corporation shall reimburse the Executive for the costs he or she incurs to obtain such
continued coverage for himself or herself and his or her eligible dependants (collectively, the “Coverage Costs”) until the earliest to occur of (i) the expiration of the six (6) month period measured from the first day of the
calendar month following the calendar month in which the Executive’s Involuntary Termination occurs, (ii) the first date on which the Executive and the Executive’s eligible dependents are covered under another employer’s health
benefit program without exclusion for any pre-existing medical condition or (iii) the first date on which the Executive elects to engage or otherwise engages in any of the activities precluded by the restrictive covenants set forth in
Section 9 of this Agreement. In order to obtain reimbursements for the Coverage Costs, the Executive must 

  
 Page 6 of 14

 
submit appropriate evidence to the Corporation of each periodic payment within sixty (60) days after the payment date, and the Corporation shall within thirty (30) days after such
submission reimburse the Executive for that payment. During the period such medical care coverage remains in effect hereunder, the following provisions shall govern the arrangement: (i) the amount of Coverage Costs eligible for reimbursement in
any one calendar year of such coverage shall not affect the amount of Coverage Costs eligible for reimbursement in any other calendar year for which such reimbursement is to be provided hereunder; (ii) no Coverage Costs shall be reimbursed
after the close of the calendar year following the calendar year in which those Coverage Costs were incurred; and (iii) the Executive’s right to reimbursement of such Coverage Costs cannot be liquidated or exchanged for any benefit. To the
extent the reimbursed Coverage Costs are treated as taxable income to the Executive, the Corporation shall report the reimbursement as taxable W-2 wages and collect the applicable withholding taxes, and the resulting tax liability shall be the
Executive’s sole responsibility. Any additional health care coverage to which the Executive and the Executive’s dependents may be entitled under COBRA, following the period of such Coverage Cost reimbursement under this Section 2(b),
shall be at the Executive’s sole cost and expense. 
 (c) Tax Gross-Up Payment. To the extent any
reimbursement of Coverage Costs under Section 2(b) constitutes taxable income to the Executive, he or she shall be entitled to an additional cash payment in a dollar amount sufficient to cover the federal and state income tax liability
attributable to such taxable income and the additional tax gross-up payment made hereunder. Unless a further deferral is required pursuant to Section 8 of this Agreement, each such tax gross-up payment shall be paid to or on behalf of the
Executive within ten (10) business days after the federal and state income taxes to which it relates are remitted to the appropriate tax authorities. In no event shall any further payments be made under this Section 2(c) should the
Executive fail to comply with the Severance Benefit Conditions. 
 3. No Vesting Acceleration. All vesting of the
Executive’s outstanding Options shall cease at the time of the Executive’s Involuntary Termination, and the Executive shall not have more than the period of time specified in the applicable stock option agreement in which to exercise each
such Option following such Involuntary Termination for any shares of Common Stock for which that Option is vested and exercisable at the time of such termination. 
 PART THREE – CHANGE IN CONTROL SEVERANCE BENEFITS 
 4. Change in
Control Severance Benefits Entitlement. Should the Executive’s employment terminate by reason of an Involuntary Termination within the Change in Control Severance Period, then the Executive shall become eligible to receive the Change in
Control Severance Benefits provided under Section 5 of this Part Three, subject to the conditions set forth therein. The Change in Control Severance Payments provided under this Part Three shall be in lieu of any other severance benefits to
which the Executive might otherwise, by reason of the Executive’s termination of employment or Separation from Service during the Change in Control Severance Period, be eligible under any other severance plan, program or arrangement of the
Corporation, including (without limitation) Part Two of this Agreement. 

  
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 5. Control Severance Benefits. The Change in Control Severance Benefits for
which the Executive may become eligible under this Part Three shall consist of the following payments and benefits: 
 (a)
Normal Severance Benefits. Subject to his or her satisfaction of the same Severance Benefit Conditions set forth in Section 1 of Part Two of this Agreement, the Executive shall be eligible to receive the same level of salary
continuation payments, Coverage Cost reimbursements and tax gross-up payments and at the same times as set forth in Section 2 of Part Two of this Agreement. 
 (b) Payment Equal to Pro-rated Target Bonus. Should the Change in Control be consummated, then the Executive shall also become entitled to receive, for each full or partial month of
employment which the Executive completes in the fiscal year in which his or her Involuntary Termination occurs, an amount equal to one-twelfth (1/12th) of the annual target bonus in effect for the Executive for that year (the “Termination
Bonus”). Such amount shall be paid in a lump sum on the first business day, within the sixty (60)-day period measured from the later of (i) the date of the Executive’s Separation from Service due to such Involuntary Termination or
(ii) the closing date of the Change in Control, on which the Release is effective. The payment shall be subject to the Corporation’s collection of all applicable withholding taxes, and the Executive shall receive only the net amount
remaining after such taxes have been collected. In no event shall any Termination Bonus be paid unless the Change in Control transaction is in fact consummated. The Termination Bonus (if any) shall be treated as a Short-Term Deferral Payment for
purposes of Code Section 409A. 
 (c) Option Acceleration. If the Executive holds one or more unvested Options
at the time of his or her Involuntary Termination within the Change in Control Severance Period, then the unvested portion of each of those Options that would have otherwise vested and become exercisable had Executive completed an additional
eighteen (18) months of continued employment with the Corporation prior to the date of her Involuntary Termination (the “Accelerable Portion”) shall all immediately vest and become exercisable with respect to one hundred percent
(100%) of the Accelerable Portion. 
 The Options as so accelerated, together with all other Options held by the Executive
that are vested and exercisable at the time of such Involuntary Termination, may be exercised for any or all of the underlying option shares as fully-vested shares. The Options as so accelerated and all other vested Options held by the Executive
shall remain outstanding until the earlier of (i) the expiration date of the maximum option term or (ii) the expiration of the limited period of time specified in the applicable stock option agreement for which the Option is to remain
exercisable following the Executive’s termination of employment with the Corporation. 
 The vesting acceleration under
this Section 5(c) shall be subject to the Executive’s compliance with the Severance Benefit Conditions set forth in Section 1 of Part Two. 

  
 Page 8 of 14

 PART FOUR – LIMITATION ON BENEFITS 

6. No Duplication of Benefits. In no event shall the Executive be entitled to severance benefits under both Parts Two and
Three of this Agreement. 
 7. Benefit Limit. The benefit limitations of this Part Four shall be applicable in the
event the Executive receives any benefits under this Agreement that are deemed to constitute parachute payments under Code Section 280G. 
 In the event that any payments to which the Executive becomes entitled in accordance with the provisions of this Agreement would otherwise constitute a parachute payment under Code Section 280G, then
such payments will be subject to reduction to the extent necessary to assure that the Executive receives only the greater of (i) the amount of those payments which would not constitute such a parachute payment or (ii) the
amount which yields the Executive the greatest after-tax amount of benefits after taking into account any excise tax imposed on the payments provided to the Executive under this Agreement (or on any other benefits to which the Executive may become
entitled in connection with any change in control or ownership of the Corporation or the subsequent termination of his or her employment with the Corporation) under Code Section 4999. 

Notwithstanding the foregoing, in determining whether the benefit limitation of this Section 7 has been exceeded, a reasonable
determination shall be made as to the value of the restrictive covenants to which the Executive will be subject under Section 9, and the amount of his or her potential parachute payment shall accordingly be reduced by the value of those
restrictive covenants to the extent consistent with Code Section 280G and the Treasury Regulations thereunder. 
 Should a
reduction in benefits be required to satisfy the benefit limit of this Section 7, then the Executive’s salary continuation payments under Section 2 or Section 5, as applicable, shall accordingly be reduced (with such reduction to
be effected pro-rata to each payment) to the extent necessary to comply with such benefit limit. Should such benefit limit still be exceeded following such reduction, then the amount of the Executive’s pro-rated bonus under Section 5(b)
shall be reduced next, and finally the number of shares as to which the Executive’s outstanding Options would otherwise vest on an accelerated basis in accordance with Section 5(b) shall be reduced (based on the value of the parachute
payment attributable to each such accelerated Option under Code Section 280G), to the extent necessary to eliminate such excess, with such reduction to be effected in the same chronological order in which those Options were granted. 

8. Section 409A. 
 (a) Notwithstanding any provision to the contrary in this Agreement (other than Section 8(b) below), no payments, benefits or reimbursements to which the Executive otherwise becomes entitled under
Part Two or Part Three of this Agreement (other than reimbursement of Coverage Costs during the applicable period of COBRA coverage) shall be made or provided to the Executive prior to the earlier of (i) the first business day of
the seventh month following the date of the Executive’s Separation from Service or (ii) the date of the 

  
 Page 9 of 14

 
Executive’s death, if the Executive is deemed at the time of such Separation from Service to be a “specified employee” within the meaning of that term under Code
Section 416(i) and the Corporation’s stock is publicly traded on an established securities market and such delayed commencement is otherwise required in order to avoid a prohibited distribution under Code Section 409A(a)(2). Upon the
expiration of the applicable deferral period, all payments, benefits and reimbursements deferred pursuant to this Paragraph (whether they would have otherwise been payable in a single sum or in installments in the absence of such deferral) shall be
paid or made to the Executive in a lump sum, and any remaining payments, benefits and reimbursements due under this Agreement shall be paid or provided in accordance with the normal payment dates specified for them herein. 

If the Executive is, at any time during the twelve-month period ending on the last day of any calendar year, deemed to be a “key
employee” within the meaning of that term under Code Section 416(i), then the Executive shall be deemed to be a specified employee subject to the delayed payment provisions of this Section 8(a) for the period beginning on the
April 1 of the following calendar year and ending on the March 31 of the next year thereafter. 
 (b) The six month
holdback set forth in the subsection 8(a) above shall not be applicable to (i) any severance payments under Part Two or Part Three of this Agreement that qualify as Short-Term Deferral Payments and (ii) any remaining portion of the
severance payments due the Executive under Part Two or Part Three of this Agreement to the extent (I) that the dollar amount of those payments does not exceed two (2) times the lesser of (x) the Executive’s annualized
compensation (based on the Executive’s annual rate of pay for the calendar year preceding the calendar year of the Executive’s Separation from Service, adjusted to reflect any increase during that calendar year which was expected to
continue indefinitely had Executive’s Separation from Service not occurred) or (y) the maximum amount of compensation that may be taken into account under a qualified plan pursuant to Section 401(a)(17) of the Code for the year in
which the Executive’s Separation from Service occurs, and (II) such severance payments are to be made to the Executive no later than the last day of the second calendar year following the calendar year in which the Separation from Service
occurs. 
 9. Restrictive Covenants. For the period during which the Executive is to receive salary continuation
payments under either Part Two or Part Three of this Agreement, measured from the date of the Executive’s Separation from Service, whether or not such payments are delayed pursuant to Section 8 of this Agreement (the “Restriction
Period”): 
 (a) The Executive shall comply with all obligations under the Executive’s PIIA; and

 (b) The Executive shall not, anywhere in the United States, 

(i) render any services or provide any advice, assistance or support to any Competing Business, whether as an employee, agent,
representative, consultant, partner, officer, director or stockholder or in any other capacity; provided, however, that such restriction shall not apply to any passive investment representing an interest of less than five percent (5%) of an
outstanding class of publicly-traded securities of any corporation or other enterprise which may constitute a Competing Business hereunder; 

  
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 (ii) contact, solicit or call upon any customer or supplier of the Corporation on behalf of
any person or entity other than the Corporation for the purpose of selling any products or providing or performing any services of the type normally sold, provided or performed by the Corporation; or 

(iii) induce or attempt to induce any person or entity to curtail or cancel any business or contracts which such person or entity has
with the Corporation. 
 (c) In the event of a breach by the Executive of any of the restrictive covenants of this
Section 9, Executive shall no longer be entitled to any further severance benefits as provided in Section 10 below. 

(d) The covenants set forth in this Section 9 are reasonable and necessary to protect the Corporation’s legitimate business
interests, e.g., to preclude the Executive’s intentional and/or inadvertent use and/or disclosure of the Corporation’s confidential, proprietary and/or trade secret information to or with a Competing Business for a limited period after the
Executive’s Involuntary Termination. Such covenants would not prevent the Executive from engaging in a trade or profession, pursuing a career, conducting a business, or maintaining Executive’s standard of living, for a limited period after
the Executive’s Involuntary Termination. 
 10. No Entitlement to Benefits. In no event shall the Executive
be entitled to any benefits under Part Two or Part Three of this Agreement if his or her employment ceases by reason of a Termination for Cause or if he or she voluntarily resigns other than for a reason which qualifies as grounds for an Involuntary
Termination. 
 PART FIVE – MISCELLANEOUS PROVISIONS 

11. All Terminations. Upon any termination of the Executive’s employment with the Corporation, including an
Involuntary Termination, the Corporation shall pay the Executive (i) any unpaid base salary earned for services rendered through the date of termination, (ii) the value of any accrued but unused paid vacation benefits or paid time-off
(“PTO”) benefits, as applicable, and (iii) any bonus amount actually earned and vested at time of such termination but not previously paid to the Executive. In addition, all vesting in Executive’s outstanding Options and stock
awards, if any, shall cease at the time of the Executive’s termination of employment, and Executive shall not have more than the limited period of time specified in the applicable stock option agreement during which the Executive may exercise
each such Option following termination of employment for any or all of shares of the Corporation’s common stock for which that Option is vested and exercisable at the time of the Executive’s termination from employment with the
Corporation. Notwithstanding the foregoing, any vested amounts deferred by the Executive under one or more of the Corporation’s non-qualified deferred compensation programs or arrangements subject to Code Section 409A that remain unpaid on
the date of such termination of the Executive’s employment shall be paid at such time and in such manner as set forth in each applicable plan or agreement, subject, however, to the deferred payment provisions of Section 8. 

  
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 12. Successors and Assigns. The provisions of this Agreement shall inure to
the benefit of, and shall be binding upon, (i) the Corporation and its successors and assigns, including any successor entity by merger, consolidation or transfer of all or substantially all of the Corporation’s assets (whether or not such
transaction constitutes a Change in Control), and (ii) the Executive, the personal representative of the Executive’s estate and the Executive’s heirs and legatees. 

13. General Creditor Status. The benefits to which the Executive may become entitled under Part Two or Part Three of this
Agreement shall be paid, when due, from the Corporation’s general assets, and no trust fund, escrow arrangement or other segregated account shall be established as a funding vehicle for such payments. Accordingly, the Executive’s right (or
the right of the executors or administrators of the Executive’s estate) to receive such benefits shall at all times be that of a general creditor of the Corporation and shall have no priority over the claims of other general creditors.

 14. Governing Law. The provisions of this Agreement shall be construed and interpreted under the laws of the
State in which Executive was employed by the Corporation at the time of Executive’s Involuntary Termination. If any provision of this Agreement as applied to any party or to any circumstance should be adjudged by a court of competent
jurisdiction or determined by an arbitrator to be void or unenforceable for any reason, the invalidity of that provision shall in no way affect (to the maximum extent permissible by law) the application of such provision under circumstances
different from those adjudicated by the court or determined by the arbitrator, the application of any other provision of this Agreement, or the enforceability or invalidity of this Agreement as a whole. Should any provision of this Agreement become
or be deemed invalid, illegal or unenforceable by reason of the scope, extent or duration of its coverage, then such provision shall be deemed amended to the extent necessary to conform to applicable law so as to be valid and enforceable and
consistent with the intent of the parties hereto. If such provision cannot be so amended without altering the intention of the parties, then such provision, including any consideration specifically tied to such provision, will be stricken, and the
remainder of this Agreement shall continue in full force and effect. It is the intent of the parties to this Agreement that should any of the Severance Benefit Conditions of Section 1(b) of Part Two be void or unenforceable as written herein,
then the Executive shall not be entitled to any Additional Severance Benefits under Part Two or Part Three (as the case may be) or to any Additional Monthly Option Vesting under Part Three. 

15. Arbitration. 
 (a) Each party agrees that any and all disputes which arise out of or relate to the Executive’s employment, the termination of the Executive’s employment or the terms of this Agreement shall be
resolved through final and binding arbitration. Such arbitration shall be in lieu of any trial before a judge and/or jury, and the Executive and Corporation expressly waive all rights to have such disputes resolved through trial before a judge
and/or jury. Such disputes shall include, without limitation, claims for breach of contract or of the covenant of good faith and fair dealing, claims of discrimination, violation of public policy, claims under any federal, state or local law or
regulation now in existence or hereinafter enacted and as amended from time to time concerning in any way the subject of the Executive’s employment with the Corporation or its termination. 

  
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 (b) Arbitration shall be held in San Mateo County, California and conducted in accordance
with the National Rules for the Resolution of Employment Disputes of the American Arbitration Association (“AAA Rules”), provided, however, that the arbitrator shall allow the discovery authorized by California Code of Civil Procedure
section 1282, et seq., or any other discovery authorized or required by applicable law in arbitration proceedings. To the extent that any of the AAA Rules or anything in this Section 15 conflict with applicable law, the arbitration procedures
required by applicable law shall govern. 
 (c) During the course of the arbitration, the Corporation will pay the
arbitrator’s fee and any other type of expense or cost that the Executive would not otherwise be required to bear if he or she were free to bring the dispute or claim in court and any other expense or cost that is unique to arbitration. The
Corporation and the Executive shall each bear their own respective attorneys’ fees incurred in connection with the arbitration, and the arbitrator shall award reasonable attorneys’ fees and costs of arbitration to the prevailing party. If
there is a dispute as to whether the Executive or the Corporation is the prevailing party in the arbitration, the arbitrator will decide the issue. 
 (d) The arbitrator shall issue a written award that sets forth the essential findings of fact and conclusions of law on which the award is based. The arbitrator shall have the authority to award any
relief authorized by law in connection with the asserted claims or disputes. The arbitrator’s award shall be subject to correction, confirmation, or vacation, as provided by applicable law setting forth the standard of judicial review of
arbitration awards. Judgment upon the arbitrator’s award may be entered in any court having jurisdiction thereof. 
 16.
Modification; Severability. 
 (a) This Agreement may be amended by the parties only by a written agreement signed
by the Executive and an authorized officer of the Corporation. 
 (b) In the event that, any one or more of the restrictive
covenants of Section 9 of this Agreement shall for any reason be held to be unenforceable for any reason including, but not limited to, being excessively broad as to duration, geographical scope, activity or subject, it shall be construed or
modified by limiting and reducing it, so as to provide the Corporation with the maximum protection of its business interests and yet be enforceable under the applicable law as it shall then exist. 

17. Counterparts. This Agreement may be executed in more than one counterpart, each of which shall be deemed an original,
but all of which together shall constitute but one and the same instrument. 
 18. Complete Agreement. This
Agreement, together with (i) the stock option agreements evidencing the Executive’s currently outstanding Options and any future Option grants, (ii) the Executive’s PIIA, and (iii) any outstanding promissory note(s) or debt
obligation of the Executive payable to the Corporation, which are unaffected by this Agreement, shall constitute the entire agreement and understanding of the Corporation and the Executive with respect to subjects covered and replace all prior and
contemporaneous written or verbal 

  
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agreements and understandings between the Executive and the Corporation, including (without limitation) the Prior Agreement, regarding such subjects. 

IN WITNESS WHEREOF, the parties have executed this Agreement as of the day and year written above. 

 

							
	WAGEWORKS, INC.	 		 	EXECUTIVE
				
	By:	 	 	 		 	 
		 		 		 	
	Title:  	 	 	 		 	

  
 Page 14 of 14

 EXHIBIT A 
 FORM OF SEVERANCE & GENERAL RELEASE AGREEMENT 

 SEVERANCE & GENERAL RELEASE AGREEMENT 

I,
                            , of behalf of myself, my heirs, administrators and representatives, enter
into this Severance & General Release Agreement (“Release”) in exchange for the severance benefits under [ Part Two / Part Three ] of that certain Amended and Restated Executive Severance Benefits Agreement between WageWorks, Inc.
(the “Corporation”) and myself, dated                     , 2010 (the “Agreement”), following the [ DATE ] Involuntary
Termination of my employment with the Corporation. 
 1. I represent that (i) I have received from the Corporation all
wages earned by me and other amounts owed to me as a result of my employment with the Corporation through my Involuntary Termination; (ii) I have returned to the Corporation all items of property that the Corporation paid for and/or provided to
me for my use during employment with the Corporation; and (iii) I have returned the Corporation all documents, materials and writings made or received by me during the course of my employment with the Corporation (including copies, excerpts and
summaries, whether in paper or electronic form) except my personal copies of documents evidencing my hire, compensation, benefits and stock options, the Agreement, my Proprietary Information and Inventions Agreement with the Corporation
(“PIIA”), and any documents I received from the Corporation as a stockholder of the Corporation. 
 2. I hereby waive,
release and forever discharge the Corporation, its current and former officers, directors, agents, employees, stockholders, successors, assigns, parent, subsidiary and affiliated entities (collectively, “Releasees”) from any and all
claims, liabilities, demands, causes of action, costs, expenses, attorney fees, damages and obligations of every kind and nature, in law, equity or otherwise, known and unknown, suspected and unsuspected, disclosed and undisclosed, arising
from or relating to any acts or omissions occurring on and prior to the date I sign this Release, including (without limitation) those arising from or relating to my hiring and employment with the Corporation and the termination of that employment
(collectively, “Claims”), including (without limitation) Claims of wrongful discharge, infliction of emotional distress, defamation, fraud, breach of contractual obligations, violation of public policy, discrimination, harassment and
retaliation in violation of applicable law, including under the federal Age Discrimination in Employment Act of 1967 (“ADEA”), and all Claims for violation of any other applicable federal, state and/or local law. 

(a) In furtherance of my intent to waive, release and forever discharge all Claims against the Releasees, including those that are
presently “known and unknown, suspected and unsuspected, disclosed and undisclosed,” I also waive all rights and benefits conferred on me (if any) by Section 1542 of the California Civil Code and by any comparable provision of
other applicable law. I understand that Section 1542 provides: 
 A general release does not extend to claims which the
creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor. 

 I understand that this means that, if I later discover facts different from or in addition to those that I
know or believe to be true as of the date this Release becomes effective, that this Release shall be and remain in full force and effect in all respects notwithstanding such different or additional facts or my later discovery of such facts.

 (b) The only exceptions to my waiver, release and discharge of this Paragraph 2 are any Claims I may have (i) for
severance benefits under the Agreement; (ii) for benefits under a government-administered benefits program such as, but not limited to, unemployment insurance benefits; (iii) for workers’ compensation benefits under any of the
Corporation’s workers’ compensation insurance policy or fund (and I represent that I have provided written report(s) to the Corporation’s Chief Financial Officer of all work-related illnesses or injuries I have incurred during my
employment with the Corporation); (iv) for any benefits vested under any written employee benefit plan sponsored by the Corporation and governed by ERISA; (v) arising from acts or omissions by any Releasees occurring after the date I sign
this Release; and (v) which, under applicable law, are not waivable. 
 3. I understand that (i) I shall have
twenty-one (21) days from the date of my Involuntary Termination during which to consider this Release, to consult with an attorney of my own choosing to help me decide whether to sign this Release (which consultation the Corporation advises me
to obtain), and to sign this Release if I so choose; (ii) I have seven (7) days after the date I sign this Release during which I can revoke my signature agreement to this Release by providing written notice to the Corporation’s Chief
Financial Officer of my revocation; (iii) this Release will not become effective until the eighth day after I have signed this Release, provided that I have not timely revoked my signature agreement to this Release; and (iv) by signing and
allowing this Release to become effective, I am forever waiving, releasing and discharging important rights, including my right to any Claims for damages or other personal relief under the ADEA. 

4. I represent and warrant that (i) I have carefully read and understand the terms and conditions of the Agreement, my PIIA and this
Release (collectively, “My Agreements”), (ii) I am not signing this Release in reliance on any promise or representation not contained in any of My Agreements; and (iii) I sign this Release knowingly, voluntarily and without
coercion or duress. 
  

			
	Date:	 	 
		
	Signature:	 	 
		
	Print Name:	 	 

  
 2 

 EXHIBIT B 
 EXECUTIVE’S 
 PROPRIETARY INFORMATION AND INVENTIONS AGREEMENT

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