Document:

Prepared by R.R. Donnelley Financial -- Exhibit 10.11

 EXHIBIT 10.11 
  
  
 UNRESTRICTED STOCK OPTION AGREEMENT 
  
 This is a Performance Accelerated Stock Option Agreement, by and between                         , a
corporation organized under the laws of the State of Delaware (“CACI”) and                      , (“Employee. 

 
 WHEREAS CACI desires to recognize the efforts of its employees in furthering the growth and profitability of the
corporation; 
  
 WHEREAS CACI wishes to assist its employees in acquiring or increasing their direct or
indirect proprietary interests in the corporation so they may share in the success of the corporation and have added incentive to remain in its employ; 
  
 WHEREAS CACI desires that this Agreement result in an ultimate stock option grant to Employee, should the performance metrics not be achieved that would cause an acceleration of the ultimate
exercise date stated herein; and 
  
 WHEREAS, in furtherance of that purpose, CACI wishes to grant Employee an
option to purchase shares of the common stock of CACI International Inc, a Delaware corporation (“CACI International Inc”). 
  
 NOW, THEREFORE, CACI and Employee hereby agree as follows: 
  
 I.    Option

  
 CACI grants an option to Employee to purchase up to
                        shares of the Common Stock of CACI International Inc at a price of
$             per share. 
  
 II.    Effective Date

  
 This option shall become effective upon CACI’s receipt of a signed copy of this Agreement from Employee.
Employee may not exercise any rights granted under this Agreement until receipt by CACI of a signed copy of this Agreement. 
  
 III.    Ultimate Exercise Date 
  
 A.  Employee, while in
the continuous employ of CACI (or CACI International Inc subsidiary) may exercise the option granted under this Agreement in whole or in part, on such date that occurs on or
after                , provided, however, that if Employee dies or becomes permanently disabled prior to such date but while still employed by CACI, then
employee, his or her duly appointed personal representative, or the executor of his or her estate, may exercise the option granted under this Agreement, in whole or in part, any time after the date of the Employee’s death or disability. (The
date on which the option granted under this Agreement shall become exercisable in accordance with this Article III is hereinafter referred to as the “Exercise Date”.) 
  
 B.  In the event of any acquisition, merger, liquidation or dissolution of the Company prior to the Exercise Date, the option shall become exercisable as
to all option shares upon execution of an agreement effecting such a transaction, notwithstanding that the option may not yet have become fully exercisable under this Article III. (The date on which the option granted under this become exercisable
in accordance with this Article III is hereinafter referred to as the “Ultimate Exercise Date”.) 
  
 IV.    Performance Accelerated Exercise Date. 
  
 A.  CACI’s achievement of certain pre-established performance metrics for fiscal year 2002 will result in the acceleration of the exercise date in Article III.A, as described in this Article and within the
meaning of this Agreement. 
  
 1.  A total
of                 shares, or     % of the total options described in Article I, will be exercisable
on                     on a performance accelerated basis, if: 
  
 a.  (Required performance metrics to be met), and 
  
 b.  (Required performance metrics to be met). 

 2.  An
additional                 shares, or     % of the total options described in Article I, will also become exercisable on
                    , if: 
  
 a.  (Required performance metrics to be met). 
  
 3.  An additional                 shares, or     % of the total options described in Article I, will become
exercisable on                         if CACI achieves the performance acceleration metrics in Articles IV.A, 1., above.

  
 4.  An
additional                 shares, or     % of the total options described in Article I, will become exercisable on
             if CACI achieves the performance acceleration metrics in Articles IV.A, above 
  
 B.  The failure by CACI to achieve any of the performance metrics in Article IV.A. 1. or 2., above, will cause the exercise dates for such shares to revert to the Article III Ultimate
Vesting Date. 
  
 V.    Exercise of Option 
  
 At any time after the Exercise Date, Employee or his or her personal representative may exercise the option granted by this Agreement to purchase the shares, or any portion
thereof, specified in Article I. Such option may be exercised only while he or she is in the continuous employ of CACI, or within sixty (60) days after the date he or she ceases to be so employed, to the extent that the option was exercisable by him
or her on the date of termination of his or her employment. Employee or his or her personal representative must exercise the option granted under this Agreement by sending to CACI a completed “Notice of Exercise of Unrestricted Option”,
substantially in the form attached hereto, along with a check or money order, payable in U.S. dollars, for the total of the number of shares sought to be purchased multiplied by the applicable price per share specified in Article I, as adjusted
under Article VIII. 
  
 VI.    Issuance of Shares 
  
 Within 30 days of receipt of a Notice of Exercise of Option and subject to the provisions of Article XI, CACI shall cause to be issued to Employee one or more certificates
for the Common Stock purchased pursuant to this Agreement. Employee’s rights as a shareholder of CACI International Inc, including any right to declared dividends, shall not commence until issuance of such stock certificate(s). 

 
 VII.    Conditions of Lapsing 
  
 This option shall lapse and terminate and may no longer be exercised if: 
  
 A.  Employee terminates his or her employment with CACI for any reason other than death or permanent disability, unless exercised within the 60 day period following termination to the extent such option was
exercisable by him or her on the date of termination of such employment; 
  
 B.  It
is not exercised within ten years of the date of grant, i.e.,                ; 
  
 C.  CACI is placed under the jurisdiction of a bankruptcy court or dissolves. 
  

VIII.    Adjustments Upon Changes in Capitalization 
  
 A.  The existence of this option shall not affect in any way the right or power of the Company or its stockholders to make or authorize any or all adjustments, recapitalizations, reorganizations or other
changes in CACI’s capital structure or its business, or any merger or consolidation of CACI, or any issue of bonds, debentures, preferred or prior preference stock ahead of or affecting the Common Stock or the rights thereof, or the dissolution
or liquidation of CACI, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise. 
  
 B.  If CACI shall effect a subdivision or consolidation of shares or other capital readjustment, the payment of a stock dividend, or other increase or
reduction of the number of shares of the Common Stock outstanding, without receiving compensation therefore in money, services or property, the number, class, and per share price of shares of stock subject to this option shall be appropriately
adjusted in such a manner as to entitle the Employee to receive upon the exercise of this option, for the same aggregate consideration, the same total number of shares that the owner of an equal number of outstanding shares of the Common Stock would
own as a result of the event requiring the adjustment. 
 

 2 

  
 C.    Except as hereinbefore expressly provided, the
issue by CACI of shares of stock of any class, or securities convertible into shares of stock of any class, for cash or property, or for labor or services, either upon direct sale or upon the exercise of rights or warrants to subscribe therefore, or
upon conversion of shares or obligations of CACI convertible into such shares or other securities, shall not affect, and no adjustment by reason thereof shall be made with respect to, the number or price of shares of Common Stock then subject to
this option. 
  
 IX.    Fractional Shares 
  
 No fractional shares or scrip representing fractional shares of Common Stock shall be issued upon the exercise of the option granted herein. If, upon exercise of the option
granted herein, Employee would be entitled to a fractional share of Common Stock, the number of shares to which Employee is entitled shall be rounded up to the next highest whole number. 
  

X.    Assignment 
  
 The option
granted under this Agreement is personal to Employee and may not be assigned without the prior written consent of CACI. 
  
 XI.    Employment Taxes 
  
 As a condition to the issuance of shares of
Common Stock under this Agreement, Employee agrees to remit to CACI at the time of any exercise of this option any taxes (whether income taxes, employment taxes, or any other taxes) required to be withheld or collected under federal, state, or local
law as a result of such exercise. 
  
 XII.    Amendment 
  

This Agreement embodies the entire Agreement between CACI and Employee. This Agreement may be amended only with the written consent of both parties. 

 
 XIII.    Headings 
  
 Article headings are strictly for the purpose of convenience and general reference only and shall not affect the meaning or interpretation of any of the provisions of this Agreement. 

 
 XIV.    Applicable Law 
  
 The substantive laws of the Commonwealth of Virginia, United States of America, shall govern the validity, interpretation, and enforcement of this Agreement. 
  
 XV.    Notices 
  
 Any notice required or permitted to be given under this Agreement must be given by first class or certified mail, addressed as follows, unless notice of a change of address has subsequently been given in writing. 

 
 
	 To CACI:
 	 	 To Employee:
 
	 CACI Administrator
 	 	  
 

	 Employee Stock Incentive Plan
 	 	  
 

	 1100 North Glebe Road
 	 	  
 

	 Arlington, Virginia 22201
 	 	  
 

 
  
 IN WITNESS WHEREOF, the parties have caused this Agreement
to be executed on the date(s) written below. 
  
 
	 CACI:
 	    	  	 	 EMPLOYEE:
 
	 
	 
	    	  	 	 

	 
	  	 	  	    	  	 	 By:
 	 	  
	 
	 Date:
 	 	 
	    	  	 	 Date:
 	 	 

 
 

 3 

  
 NOTICE OF EXERCISE OF UNRESTRICTED OPTIONS 
  
 I hereby exercise the option granted pursuant to the Stock Option Agreement between CACI INC.-FEDERAL and me, and subject to the terms
thereof, purchase              shares of the Common Stock of CACI International Inc (“CACI”) at a price of
$                 per share. Enclosed is a check or money order, payable to CACI in the amount of
$            , in U.S. dollars, as full payment for such shares. 
  
 In furtherance of my obligation under Article XI of the Stock Option Agreement to remit certain withholding taxes: 
  
 1.  I agree that, if I am an employee of the Company, the Company will deduct and withhold from any regular cash compensation payable to me any taxes that it is required to collect, deduct,
or withhold under federal, state, or local law as a result to this exercise; or I agree to remit such amount to the Company by check or money order within five (5) days after the receipt of such notice, or at the time specified in such notice. I
understand that no shares will be issued to me until I remit such amounts to the Company. 
  
 2.  I understand that, if I am not now an employee of the Company or if at the time of termination of my employment, additional amounts are due, the Company will, within ten (10) days after receipt of this notice or the
termination of my employment, notify me of the amount that I am required to remit pursuant to Article XI, and I agree to remit such amount to the Company within five (5) days after the receipt of such notice, or at the time specified in such notice.
I understand that no shares will be issued to me until I remit such amounts to the Company. 
  
 Dated:            , 20 
  
 

 4Prepared by R.R. Donnelley Financial -- Waiver of Penalty Warrants dtd September 25, 2002

  
 Exhibit 10.1 
  
 KFx Inc. 
  
 Waiver of Penalty Warrants

  
 This Waiver of Penalty Warrants (this “Waiver”), is entered into as of September 25, 2002,
by and among KFx Inc., a Delaware corporation (the “Company”), and the parties listed on Schedule A attached hereto (the “Investors”), with reference to the following facts: 
  
 WHEREAS, the Investors are parties to the Common Stock and Warrant Purchase Agreement, dated as of March 28, 2002, as amended by the
Addendum to the Common Stock and Warrant Purchase Agreement, dated as of April 30, 2002, the Second Addendum to the Common Stock and Warrant Purchase Agreement, dated as of July 1, 2002, the Third Addendum to the Common Stock and Warrant Purchase
Agreement and the First Amendment to the Third Addendum to the Common Stock and Warrant Purchase Agreement, both dated as of July 19, 2002, and the Fourth Addendum to the Common Stock and Warrant Purchase Agreement, dated as of August 21, 2002
(collectively referred to herein as the “Purchase Agreement”); 
  
 WHEREAS, the Investors are
parties to the Investors’ Rights Agreement, dated as of March 28, 2002, as amended and restated by the First Amendment to Investors’ Rights Agreement, dated as of April 18, 2002, the Amended and Restated Investors’ Rights Agreement,
dated as of April 30, 2002, the Second Amended and Restated Investors’ Rights Agreement, dated as of July 1, 2002, the Third Amended and Restated Investors’ Rights Agreement, dated as of July 19, 2002, and the Fourth Amended and Restated
Investors’ Rights Agreement, date as of August 21, 2002 (referred to herein as the “Investors’ Rights Agreement”); 
  
 WHEREAS, pursuant to the terms of the Investors’ Rights Agreement, the Company was obligated to (a) file one or more registration statement(s) (or amendment(s) thereto) on or before certain
specified dates for the purpose of registering under the Securities Act of 1933, as amended, all of the Registrable Securities (as defined in the Investors’ Rights Agreement) for resale by, and for the account of, the Investors and (b) cause
such registration statement(s) to become effective on or before certain specified dates; 
  
 WHEREAS, pursuant to the
terms of the Investors’ Rights Agreement, the Company was obligated to issue certain warrants (defined in the Investors’ Rights Agreement as Registration Warrants, Second Registration Warrants, Third Registration Warrants and Fourth
Registration Warrants and collectively referred to herein as “Penalty Warrants”) to the Investors if (a) the Company did not file such registration statement(s) (or amendment(s) thereto) on or before certain specified dates or (b)
such registration statement(s) were not declared effective by the SEC on or before certain specified dates; 
  
 WHEREAS, the Company issued Penalty Warrants, dated June 21, 2002, and is obligated to issue Penalty Warrants that are dated as of July 22, 2002, August 21, 2002 and August 30, 2002 (although the Company has not yet issued such
Penalty Warrants); 
  
 WHEREAS, in connection with the Third Addendum to the Common Stock and Warrant Purchase
Agreement, all warrants (not including for this purpose any Penalty Warrants) previously issued to the Investors pursuant to Purchase Agreement were amended and restated 

 (and, after the closing of the transactions described in such Third Addendum, all warrants to be issued pursuant to the Purchase Agreement are
to have the same terms and conditions set forth in such amended and restated warrants); 
  
 WHEREAS, in connection
with the amendment and restatement of such warrants, the Investors desire to return to the Company the Penalty Warrants issued on June 21, 2002, and waive their rights to receive the yet to be issued Penalty Warrants dated as of July 22, 2002,
August 21, 2002 and August 31, 2002, on the terms and conditions set forth herein. 
  
 NOW THEREFORE, in
consideration of the foregoing premises and the mutual covenants and conditions set forth in this Waiver, the parties agree as follows: 
  
 1.    Return and Waiver of Penalty Warrants.    The Investors hereby (a) agree to return to the Company the Penalty Warrants, dated as of June 21, 2002, that have been issued to
the Investors and (b) waive their rights to receive the yet to be issued Penalty Warrants dated as of July 21, 2002, August 21, 2002 and August 30, 2002. 
  
 2.    Notices.    Any notice, consent, authorization or other communication to be given hereunder shall be in writing and shall be deemed duly given and
received when delivered personally or transmitted by facsimile transmission with receipt acknowledged by the addressee, three days after being mailed by first class mail, or the next business day after being deposited for next-day delivery with a
nationally recognized overnight delivery service, charges and postage prepaid, properly addressed to the party to receive such notice at the address(es) specified in the Investors’ Rights Agreement (or at such other address as shall be
specified by like notice). 
  
 3.    Counterparts.    This Waiver may
be executed in any number of counterparts, each of which shall constitute an original, and all of which together shall be considered one and the same agreement. 
  
 4.    Governing Law.    This Waiver shall be governed by and construed and interpreted in accordance with the law of the State of New York, without regard
to that state’s conflict of laws principles. 
  
 5.    Attorneys’
Fees.    If any action at law or in equity is necessary to enforce or interpret the terms of this Waiver, the prevailing party shall be entitled to reasonable attorneys’ fees, costs and necessary disbursements in
addition to any other relief to which such party may be entitled. 
  
 [remainder of page intentionally left blank;
signature page follows] 

  
 IN WITNESS WHEREOF, this Waiver has been duly executed by or on behalf of the
parties hereto as of the date first above written. 
  
 
	 KFX INC.
 
	 
	 By:
 	 	 /s/    R. G. SWENSON        
 

	  	 	 R. G. Swenson
 Vice President
& Secretary
 

 
  
 THE INVESTORS 
  

	 WESTCLIFF AGGRESSIVE GROWTH, L.P.
 WESTCLIFF ENERGY PARTNERS,
L.P.
 WESTCLIFF LONG/SHORT, L.P.
 WESTCLIFF PARTNERS, L.P.
 WESTCLIFF PUBLIC VENTURES FUND, L.P.
 WESTCLIFF PUBLIC VENTURES – KFx, L.P.
 WESTCLIFF SMALL CAP FUND, L.P.
 	 	 WESTCLIFF FOUNDATION
 WESTCLIFF MASTER FUND, L.P.

WESTCLIFF PROFIT SHARING AND MONEY
 PURCHASE PENSION PLAN
 CANCER CENTER OF SANTA BARBARA
 PALM TRUST
 PARKER FOUNDATION
 UNIVERSITY OF SAN FRANCISCO
 
	 
	 By:
 Its:
 	 	 Westcliff Capital Management, LLC
 General Partner
 	 	 By:
 Its:
 	 	 Westcliff Capital Management, LLC
 Investment Adviser and Attorney-In-Fact

	 
	 By:
 	 	 /s/    RICHARD SPENCER
 
Richard S. Spencer III, Manager
 	 	 By:
 	 	 /s/    RICHARD
SPENCER        
 
Richard S. Spencer III,
Manager
 
	 
	  	 	 RAM TRADING, LTD.
 	 	  	 	 NORANDAFINANCE, INC. RETIREMENT
 PLAN FOR AFFILIATED COMPANIES TRUST
 
	 
	 By:
 Its:
 	 	 Ritchie Capital Management, LLC
 Investment Adviser
 	 	 By:
 	 	 Mellon Bank, N.A., solely in its capacity as Trustee for the Noranda Finance, Inc. Retirement Plan for Affiliated Companies Trust (as directed by Westcliff
Capital Management, LLC), and not in its individual capacity
 
	 
	 By:
 	 	 /s/    DAVID POPOVICH      
 
David Popovich, Chief Financial Officer
 	 	 By:
 	 	 /s/    BERNADETTE T.
RIST        
 
Bernadette T. Rist
 Authorized Signatory
 

 

  
 
	 PENINSULA FUND, L.P.
 	 	 COMMON SENSE PARTNERS, L.P.
 
	 
	 By:
 Its:
 	 	 Peninsula Capital Management, Inc.
 General Partner
 	 	 By:
 Its:
 	 	 Peninsula Capital Management, Inc. 
 Investment Adviser
 
	 
	 By:
 	 	 /s/    SCOTT A.
BEDFORD        
 
Scott Bedford
 President
 	 	 By:
 	 	 /s/    SCOTT A.
BEDFORD        
 
Scott Bedford
 President
 
	 
	  	 	  	 	 By:
 Its:
 	 	 Common Sense Investment Management, LLC
 General Partner
 
	 
	  	 	  	 	 By:
 	 	 /s/    SCOTT A.
THOMPSON        
 
Scott Thompson
 Director and Senior Vice President F
 

 
  

  
 SCHEDULE A 
  
 INVESTORS 
  
 Westcliff Aggressive Growth, L.P. 

Westcliff Energy Partners, L.P. 
 Westcliff Long/Short, L.P. 
 Westcliff Partners, L.P. 
 Westcliff Public Ventures Fund, L.P. 
 Westcliff Public Ventures
– KFx, L.P. 
 Westcliff Small Cap Fund, L.P. 
 Westcliff Foundation 
 Westcliff Master Fund, L.P. 
 Westcliff Profit Sharing and Money Purchase Pension Plan 
 Cancer Center of Santa Barbara 
 Palm Trust 
 Parker
Foundation 
 University of San Francisco 
 Noranda Finance, Inc. 
 Retirement Plan 
 RAM Trading, Ltd. 
 Peninsula Fund, L.P.

 Common Sense Partners, L.P.

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