Document:

Exhibit 10.17

 

Non-Qualified Stock Option Agreement

For Non-Employee Directors

under

the Open Link Financial, Inc.

2006 Stock Option and Grant Plan

 

	
  Name of Optionee:

  	
   

  	
   

  	
  (the
  “Optionee”)

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  No. of Option Shares:

  	
   

  	
   

  	
  Shares
  of Common Stock

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Grant Date:

  	
   

  	
   

  	
  (the
  “Grant Date”)

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Expiration Date:

  	
   

  	
   

  	
  (the
  “Expiration Date”)

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Option Exercise Price/Share:

  	
   

  	
  $

  	
   (the
  “Option Exercise Price”)

  	
   

  
						

 

Pursuant
to the Open Link Financial, Inc. 2006 Stock Option and Grant Plan (the “Plan”),
Open Link Financial, Inc., a Delaware corporation (together with all
successors thereto, the “Company”), hereby grants to the
Optionee, who is a director of the Company (a “Director”), an option (the
“Stock Option”) to purchase on or prior to
the Expiration Date, or such earlier date as is specified herein, all or any
part of the number of shares of Stock, par value $0.001 per share (“Stock”),
of the Company indicated above (the “Option Shares,” and such
shares once issued shall be referred to as the “Issued Shares”), at the Option
Exercise Price per share, subject to the terms and conditions set forth in this
Non-Qualified Stock Option Agreement (this “Agreement”) and in the
Plan. This Stock Option is not intended to qualify as an “incentive stock
option” as defined in Section 422(b) of the Internal Revenue Code of
1986, as amended from time to time (the “Code”).

 

1.                                       Definitions. For the
purposes of this Agreement, the following terms shall have the following
respective meanings. All capitalized terms used herein and not otherwise
defined shall have the respective meanings set forth in the Plan.

 

“Affiliate”
shall mean, with respect to any Person, a Person that directly or indirectly,
through one or more intermediaries, controls, is controlled by or is under
common control with the first mentioned Person. A Person shall be deemed to
control another Person if such first Person possesses directly or indirectly
the power to direct, or cause the direction of, the management and policies of
the second Person, whether through the ownership of voting securities, by
contract or otherwise.

 

“Permitted
Transferees” shall mean any of the following Persons to whom the
Optionee may transfer Issued Shares hereunder (as set forth in Section 7):
the Optionee’s spouse, children (natural or adopted), stepchildren or a trust
for their sole benefit of which the Optionee is the settlor; provided, however, that any such
trust does not require or permit distribution of any Issued Shares during the
term of this Agreement unless subject to its terms.

 

 

Upon
the death of the Optionee (or a Permitted Transferee to whom shares have been
transferred hereunder), the term Permitted Transferees shall also include such
deceased Optionee’s (or such deceased Permitted Transferee’s) estate,
executors, administrators, personal representatives, heirs, legatees and
distributees, as the case may be.

 

“Person” shall mean any
individual, corporation, partnership (limited or general), limited liability
company, limited liability partnership, association, trust, joint venture,
unincorporated organization or any similar entity.

 

“Sale
Event” shall mean, regardless of form thereof, the consummation, in any
transaction or series of related transactions, of (i) the dissolution or
liquidation of the Company, (ii) the sale of all or substantially all of
the assets of the Company on a consolidated basis to an unrelated person or
entity, (iii) a merger, reorganization or consolidation involving the
Company in which the holders of the Company’s outstanding voting power
immediately prior to such transaction do not own a majority of the outstanding
voting power of the successor entity immediately upon completion of such
transaction, (iv) the sale of all or a majority of the outstanding capital
stock of the Company to an unrelated person or entity or (v) any other
transaction in which the owners of the Company’s outstanding voting power
immediately prior to such transaction do not own at least a majority of the
outstanding voting power of the successor entity immediately upon completion of
the transaction; provided, however, that the consummation of a public offering
of shares of capital stock by the Company shall in no event be deemed a Sale
Event.

 

“Subsidiary” shall mean any
corporation (other than the Company) in any unbroken chain of corporations or
other entities beginning with the Company if each of the corporations or other
entities (other than the last corporation in the unbroken chain) owns stock or
other interests possessing 50 percent or more of the total combined voting
power of all classes of stock or in one of the other corporations in the chain.

 

2.                                       Vesting,
Exercisability and Termination.

 

(a)                                  No portion of
this Stock Option may be exercised until such portion shall have vested.

 

(b)                                 Except as set
forth below, and subject to the determination of the Committee in its sole
discretion to accelerate the vesting schedule hereunder, this Stock Option
shall be vested and exercisable with respect to the Option Shares on the
respective dates indicated below:

 

	
  Incremental
  Number of

  	
   

  	
   

  	
   

  
	
  Option
  Shares Exercisable

  	
   

  	
  Vesting
  Date

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  20%

  	
   

  	
  [             
      , 2007]

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  At the end of each quarterly

  	
   

  
	
   

  	
   

  	
  period commencing

  	
   

  
	
  5%

  	
   

  	
  [             
      , 2007]

  	
   

  

 

2

 

Once
exercisable, this Stock Option shall continue to be exercisable at any time or
times prior to the close of business on the Expiration Date, subject to the
provisions hereof and of the Plan. Notwithstanding anything herein to the
contrary, this Stock Option shall be deemed vested and exercisable in full (i) if
the Optionee’s service as a Director terminates by reason of such Optionee’s
death or disability (as defined in Section 422(c) of the Code) prior
to a Sale Event or (ii) upon the consummation of a Sale Event.

 

(c)                                  Termination as
a Director. Except as may otherwise be provided by the Committee,
if the Optionee ceases to be a Director, the period within which to exercise
this Stock Option will be subject to earlier termination as set forth below
(and if not exercised within such period, shall thereafter terminate):

 

(i)                                     Termination by
Reason of Death or Disability or Retirement. If the Optionee ceases to
be a Director by reason of death, disability (as defined in Section 422(c) of
the Code, or retirement (after attainment of age 60), this Stock Option may be
exercised, to the extent exercisable on the date of such termination, by the
Optionee, the Optionee’s legal representative or legatee for a period of 12
months from the date of death or disability or until the Expiration Date, if
earlier.

 

(ii)                                  Other
Termination. If the Optionee’s ceases to be a Director for any
reason other than death, disability (as defined in Section 422(c) of
the Code) or retirement (after attainment of age 60), and unless otherwise
determined by the Committee, this Stock Option may be exercised, to the extent
exercisable on the date of termination, for a period of 90 days from the date
of termination or until the Expiration Date. Any portion of this Stock Option
that is not exercisable on the date of such termination shall terminate
immediately and be of no further force or effect.

 

3.                                       Exercise of
Stock Option.

 

(a)                                  The Optionee
may exercise this Stock Option only in the following manner: Prior to the
Expiration Date, the Optionee may deliver a Stock Option exercise notice (an “Exercise
Notice”) in the form of Appendix A hereto indicating his or her election
to purchase some or all of the Option Shares with respect to which this Stock
Option is exercisable at the time of such notice. Such notice shall specify the
number of Option Shares to be purchased. Payment of the purchase price may be
made by one or more of the methods described below. Payment instruments will be
received subject to collection.

 

(i)                                     in cash, by
certified or bank check, or other instrument acceptable to the Committee in
U.S. funds payable to the order of the Company in an amount equal to the
purchase price of such Option Shares; or

 

(ii)                                  if the Initial
Public Offering has occurred, then (A) through the delivery (or
attestation to ownership) of shares of Stock that have been purchased by the
Optionee on the open market or that are beneficially owned by the Optionee and
are not subject to restrictions under any plan of the Company, provided
that, to the extent required to avoid variable accounting treatment under FAS
123R or other applicable accounting rules, such surrendered shares shall have
been owned by the Optionee for at

 

3

 

least
six months, and in any event with an aggregate Fair Market Value (as of the
date of such exercise) equal to the option purchase price, (B) by the
Optionee delivering to the Company a properly executed Exercise Notice together
with irrevocable instructions to a broker to promptly deliver to the Company
cash or a check payable and acceptable to the Company to pay the option
purchase price, provided that in the event the Optionee chooses to pay the
option purchase price as so provided, the Optionee and the broker shall comply
with such procedures and enter into such agreements of indemnity and other
agreements as the Committee shall prescribe as a condition of such payment
procedure, or (C) a combination of (i), (ii)(A) and (ii)(B) above.

 

(b)                                 Certificates
for the Option Shares so purchased will be issued and delivered to the Optionee
upon compliance to the satisfaction of the Committee with all requirements
under applicable laws or regulations in connection with such issuance. Until
the Optionee shall have complied with the requirements hereof and of the Plan,
the Company shall be under no obligation to issue the Option Shares subject to
this Stock Option, and the determination of the Committee as to such compliance
shall be final and binding on the Optionee. The Optionee shall not be deemed to
be the holder of, or to have any of the rights of a holder with respect to, any
shares of Stock subject to this Stock Option unless and until this Stock Option
shall have been exercised pursuant to the terms hereof, the Company shall have
issued and delivered the Issued Shares to the Optionee, and the Optionee’s name
shall have been entered as a stockholder of record on the books of the Company.
Thereupon, the Optionee shall have full dividend and other ownership rights
with respect to such Issued Shares, subject to the terms of this Agreement.

 

(c)                                  Notwithstanding
any other provision hereof or of the Plan, no portion of this Stock Option
shall be exercisable after the Expiration Date.

 

4.                                       Incorporation
of Plan. Notwithstanding anything herein to the contrary, this Stock Option
shall be subject to and governed by all the terms and conditions of the Plan.

 

5.                                       Transferability
of Stock Option. This Agreement is personal to the Optionee and is
not transferable by the Optionee in any manner other than by will or by the
laws of descent and distribution. The Stock Option may be exercised during the
Optionee’s lifetime only by the Optionee (or by the Optionee’s guardian or
personal representative in the event of the Optionee’s incapacity). The
Optionee may elect to designate a beneficiary by providing written notice of
the name of such beneficiary to the Company, and may revoke or change such
designation at any time by filing written notice of revocation or change with
the Company; such beneficiary may exercise the Optionee’s Stock Option in the
event of the Optionee’s death to the extent provided herein. If the Optionee
does not designate a beneficiary, or if the designated beneficiary predeceases
the Optionee, the legal representative of the Optionee may exercise this Stock
Option to the extent provided herein in the event of the Optionee’s death.

 

6.                                       Withholding
Taxes. The Optionee shall, not later than the date as of which the exercise
of this Stock Option becomes a taxable event for federal income tax purposes,
pay to the Company or make arrangements satisfactory to the Committee for
payment of any federal, state and local taxes required by law to be withheld on
account of such taxable event. Subject to approval by the Committee, the
Optionee may elect to have the minimum tax withholding

 

4

 

obligation
satisfied, in whole or in part, by authorizing the Company to withhold from
shares of Stock to be issued or transferring to the Company, a number of shares
of Stock with an aggregate Fair Market Value that would satisfy the minimum
withholding amount due. The Optionee acknowledges and agrees that the Company
has the right to deduct from payments of any kind otherwise due to the
Optionee, or from the Option Shares to be issued in respect of an exercise of
this Stock Option, any federal, state or local taxes of any kind required by
law to be withheld with respect to the issuance of Option Shares to the
Optionee.

 

7.                                       Restrictions on
Transfer of Issued Shares. None of the Issued Shares acquired upon
exercise of the Stock Option shall be sold, assigned, transferred, pledged,
hypothecated, given away or in any other manner disposed of or encumbered,
whether voluntarily or by operation of law, unless such transfer is in
compliance with all applicable securities laws (including, without limitation,
the Securities Act of 1933, as amended, and the rules and regulations
thereunder (the “Act”)), and such disposition is in accordance with the
terms and conditions of Section 7 hereof and such disposition does not cause
the Company to become subject to the reporting requirements of the Securities
Exchange Act of 1934, as amended. In connection with any transfer of Issued
Shares, the Company may require the transferor to provide at the Optionee’s own
expense an opinion of counsel to the transferor, satisfactory to the Company,
that such transfer is in compliance with all foreign, federal and state
securities laws (including, without limitation, the Act). Any attempted
disposition of Issued Shares not in accordance with the terms and conditions of
Section 7 hereof shall be null and void, and the Company shall not reflect
on its records any change in record ownership of any Issued Shares as a result
of any such disposition, shall otherwise refuse to recognize any such disposition
and shall not in any way give effect to any such disposition of any Issued
Shares. Subject to the foregoing general provisions, Issued Shares may be
transferred pursuant to the following specific terms and conditions:

 

(a)                                  Transfers to
Permitted Transferees. The Optionee may sell, assign, transfer or
give away any or all of the Issued Shares to Permitted Transferees; provided,
however, that such Permitted Transferee(s) shall, as a condition to
any such transfer, agree to be subject to the provisions of this Agreement to
the same extent as the Optionee (including, without limitation, the provisions
of Sections 7, 8, 9 and 10) and shall have delivered a written acknowledgment
to that effect to the Company.

 

(b)                                 Transfers Upon
Death. Upon the death of the Optionee, any Issued Shares then held by the
Optionee at the time of such death and any Issued Shares acquired thereafter by
the Optionee’s legal representative pursuant to this Agreement shall be subject
to the provisions of Sections 7, 8, 9 and 10, if applicable, and the Optionee’s
estate, executors, administrators, personal representatives, heirs, legatees
and distributees shall be obligated to convey such Issued Shares to the Company
or its assigns under the terms contemplated hereby.

 

(c)                                  Company’s Right
of First Refusal. In the event that the Optionee (or any Permitted
Transferee holding Issued Shares subject to this Section 7(c)) desires to
sell or otherwise transfer all or any part of the Issued Shares, the Optionee
(or Permitted Transferee) first shall give written notice to the Company of the
Optionee’s (or Permitted Transferee’s) intention to make such transfer. Such
notice shall state the number of Issued Shares which the Optionee (or Permitted
Transferee) proposes to sell (the “Offered Shares”), the price and the

 

5

 

terms
at which the proposed sale is to be made and the name and address of the
proposed transferee. At any time within 30 days after the receipt of such
notice by the Company, the Company or its assigns may elect to purchase all or
any portion of the Offered Shares at the price and on the terms offered by the
proposed transferee and specified in the notice. The Company or its assigns
shall exercise this right by mailing or delivering written notice to the
Optionee (or Permitted Transferee) within the foregoing 30-day period. If the
Company or its assigns elect to exercise its purchase rights under this Section 7(c),
the closing for such purchase shall, in any event, take place within 45 days
after the receipt by the Company of the initial notice from the Optionee (or
Permitted Transferee). In the event that the Company or its assigns do not
elect to exercise such purchase right, or in the event that the Company or its
assigns do not pay the full purchase price within such 45-day period, the
Optionee (or Permitted Transferee) may, within 60 days thereafter, sell the
Offered Shares to the proposed transferee and at the same price and on the same
terms as specified in the Optionee’s (or Permitted Transferee’s) notice. Any
Shares purchased by such proposed transferee shall be deemed held by a
Permitted Transferee and accordingly shall remain subject to the terms of this
Agreement, including without limitation, the provisions of Sections 7, 8, 9 and
10 to the same extent as if the Optionee continued to hold them. Any Shares not
sold to the proposed transferee shall remain subject to this Agreement.
Notwithstanding the foregoing, the restrictions under this Section 7 shall
terminate in accordance with Section 11(a).

 

8.                                       Escrow
Arrangement.

 

(a)                                  Escrow. In order to
carry out the provisions of Sections 7 and 9 of this Agreement more
effectively, the Company shall hold any Issued Shares in escrow together with
separate stock powers executed by the Optionee in blank for transfer, and any
Permitted Transferee shall, as an additional condition to any transfer of
Issued Shares, execute a like stock power as to such Issued Shares. The Company
shall not dispose of the Issued Shares except as otherwise provided in this
Agreement. In the event of any repurchase by the Company (or any of its
assigns), the Company is hereby authorized by the Optionee and any Permitted
Transferee, as the Optionee’s and each such Permitted Transferee’s
attorney-in-fact, to date and complete the stock powers necessary for the
transfer of the Issued Shares being purchased and to transfer such Issued
Shares in accordance with the terms hereof. At such time as any Issued Shares
are no longer subject to the Company’s repurchase, first refusal and drag along
rights, the Company shall, at the written request of the Optionee, deliver to
the Optionee (or the relevant Permitted Transferee) a certificate representing
such Issued Shares with the balance of the Issued Shares to be held in escrow
pursuant to this Section 8.

 

(b)                                 Remedy. Without
limitation of any other provision of this Agreement or other rights, in the
event that the Optionee, any Permitted Transferees or any other person or
entity is required to sell the Optionee’s Issued Shares pursuant to the
provisions of Section 7 and 9 of this Agreement and in the further event
that he or she refuses or for any reason fails to deliver to the Company or its
designated purchaser of such Issued Shares the certificate or certificates
evidencing such Issued Shares together with a related stock power, the Company
or such designated purchaser may deposit the applicable purchase price for such
Issued Shares with a bank designated by the Company, or with the Company’s
independent public accounting firm, as agent or trustee, or in escrow, for the
Optionee, any Permitted Transferees or other person or entity, to be held by
such bank or accounting firm for the benefit of and for delivery to him, her,

 

6

 

them
or it, and/or, in its discretion, pay such purchase price by offsetting any
indebtedness then owed by the Optionee as provided above. Upon any such deposit
and/or offset by the Company or its designated purchaser of such amount and
upon notice to the person or entity who was required to sell the Issued Shares
to be sold pursuant to the provisions of Sections 7 and 9, such Issued Shares
shall at such time be deemed to have been sold, assigned, transferred and
conveyed to such purchaser, the holder thereof shall have no further rights
thereto (other than the right to withdraw the payment thereof held in escrow,
if applicable), and the Company shall record such transfer in its stock
transfer book or in any appropriate manner.

 

9.                                       Drag Along
Right. In the event the holders of a majority of the Company’s equity
securities then outstanding (the “Majority Shareholders”) determine to sell or
otherwise dispose of all or substantially all of the assets of the Company or
all or fifty percent (50%) or more of the capital stock of the Company in each
case in a transaction constituting a change in control of the Company, to any
non-Affiliate(s) of the Company or any of the Majority Shareholders, or to
cause the Company to merge with or into or consolidate with any non-Affiliate(s) of
the Company or any of the Majority Shareholders (in each case, the “Buyer”) in
a bona fide negotiated
transaction (a “Sale”), the Optionee, including any Permitted Transferees,
shall be obligated to and shall upon the written request of a Majority
Shareholders (a) sell, transfer and deliver, or cause to be sold,
transferred and delivered, to the Buyer, his or her Issued Shares on
substantially the same terms applicable to the Majority Shareholders (with
appropriate adjustments to reflect the conversion of convertible securities,
the redemption of redeemable securities and the exercise of exercisable
securities as well as the relative preferences and priorities of preferred
stock); and (b) execute and deliver such instruments of conveyance and transfer
and take such other action, including voting such Issued Shares in favor of any
Sale proposed by the Majority Shareholders and executing any purchase
agreements, merger agreements, indemnity agreements, escrow agreements or
related documents, as the Majority Shareholders or the Buyer may reasonably
require in order to carry out the terms and provisions of this Section 9.
The obligations under this Section 9 shall terminate in accordance with Section 11(a)

 

10.                                 Lockup
Provision. The Optionee agrees, if requested by the Company
and any underwriter engaged by the Company, not to sell or otherwise transfer
or dispose of any securities of the Company (including, without limitation,
pursuant to Rule 144 under the Act) held by him or her for (a) one
hundred eighty (180) days following the effective date of the relevant
registration statement filed under the Act in connection with the Company’s
Initial Public Offering, or (b) ninety (90) days following the effective
date of the relevant registration statement in connection with any other public
offering of Stock, as the Company and such underwriter shall specify reasonably
and in good faith. Notwithstanding the foregoing, if: (x) during the last
17 days of the foregoing 180-day period or 90-day period, as applicable, the
Company issues an earnings release or material news or a material event
relating to the Company occurs; or (y) prior to the expiration of the
180-day period or 90-day period, as applicable, the Company announces that it
will release earnings results during the 16-day period beginning on the last
day of the period, then the restrictions described above shall continue to
apply until the expiration of an 18-day period beginning on the issuance of the
earnings release or the occurrence of the material news or material event. The
Optionee agrees, if requested by the underwriter engaged by the Company, to
execute a separate letter reflecting the agreement set forth in this Section 10.

 

7

 

11.                                 Miscellaneous Provisions.

 

(a)                                       Termination. The
restrictions on transfer of Issued Shares under Section 7 and the Drag
Along obligations under Section 9 shall terminate upon the closing of the
Company’s Initial Public Offering, or upon consummation of any Sale Event, in
either case, as a result of which shares of the Company (or successor entity)
of the same class as the Issued Shares are registered under Section 12 of
the Exchange Act and publicly traded on NASDAQ/NMS or any national security
exchange.

 

(b)                                      Equitable Relief. The parties
hereto agree and declare that legal remedies may be inadequate to enforce the
provisions of this Agreement and that equitable relief, including specific
performance and injunctive relief, may be used to enforce the provisions of
this Agreement.

 

(c)                                       Adjustments for
Changes in Capital Structure. If, as a result of any
reorganization, recapitalization, reincorporation, reclassification, stock
dividend, stock split, reverse stock split or other similar change in the
Stock, the outstanding shares of Stock are increased or decreased or are
exchanged for a different number or kind of shares of the Company’s stock, the
restrictions contained in this Agreement shall apply with equal force to
additional and/or substitute securities, if any, received by the Optionee in
exchange for, or by virtue of his or her ownership of, Issued Shares.

 

(d)                                      Change and
Modifications. This Agreement may not be orally changed, modified
or terminated, nor shall any oral waiver of any of its terms be effective. This
Agreement may be changed, modified or terminated only by an agreement in
writing signed by the Company and the Optionee.

 

(e)                                       Governing Law. This
Agreement shall be governed by and construed in accordance with the laws of
Delaware without regard to conflict of law principles.

 

(f)                                         Headings. The headings
are intended only for convenience in finding the subject matter and do not
constitute part of the text of this Agreement and shall not be considered in
the interpretation of this Agreement.

 

(g)                                      Saving Clause. If any
provision(s) of this Agreement shall be determined to be illegal or
unenforceable, such determination shall in no manner affect the legality or
enforceability of any other provision hereof.

 

(h)                                      Notices. All notices,
requests, consents and other communications shall be in writing and be deemed
given when delivered personally, by telex or facsimile transmission or when
received if mailed by first class registered or certified mail, postage
prepaid. Notices to the Company or the Optionee shall be addressed as set forth
underneath their signatures below, or to such other address or addresses as may
have been furnished by such party in writing to the other.

 

(i)                                          Benefit and
Binding Effect. This Agreement shall be binding upon and shall
inure to the benefit of the parties hereto, their respective successors,
permitted assigns, and legal representatives. The Company has the right to
assign this Agreement, and such assignee

 

8

 

shall
become entitled to all the rights of the Company hereunder to the extent of
such assignment.

 

(j)                                          Dispute
Resolution. Except as provided below, any dispute arising out
of or relating to this Agreement or the breach, termination or validity hereof
shall be finally settled by binding arbitration conducted expeditiously in
accordance with the J.A.M.S./Endispute Comprehensive Arbitration Rules and
Procedures (the “J.A.M.S. Rules”). The arbitration shall be governed by the
United States Arbitration Act, 9 U.S.C. §§1-16, and judgment upon the award
rendered by the arbitrators may be entered by any court having jurisdiction
thereof. The place of arbitration shall be New York, New York.

 

The
parties covenant and agree that the arbitration shall commence within 60 days
of the date on which a written demand for arbitration is filed by any party
hereto. In connection with the arbitration proceeding, the arbitrator shall
have the power to order the production of documents by each party and any
third-party witnesses. In addition, each party may take up to three (3) depositions
as of right, and the arbitrator may in his or her discretion allow additional
depositions upon good cause shown by the moving party. However, the arbitrator
shall not have the power to order the answering of interrogatories or the
response to requests for admission. In connection with any arbitration, each
party shall provide to the other, no later than seven (7) business days
before the date of the arbitration, the identity of all persons that may
testify at the arbitration and a copy of all documents that may be introduced
at the arbitration or considered or used by a party’s witness or expert. The
arbitrator’s decision and award shall be made and delivered within six (6) months
of the selection of the arbitrator. The arbitrator’s decision shall set forth a
reasoned basis for any award of damages or finding of liability. The arbitrator
shall not have power to award damages in excess of actual compensatory damages
and shall not multiply actual damages or award punitive damages or any other
damages that are specifically excluded under this Agreement, and each party
hereby irrevocably waives any claim to such damages.

 

The
parties covenant and agree that they will participate in the arbitration in
good faith. This Section 11(j) applies equally to requests for
temporary, preliminary or permanent injunctive relief, except that in the case
of temporary or preliminary injunctive relief any party may proceed in court
without prior arbitration for the limited purpose of avoiding immediate and
irreparable harm.

 

Each
of the parties hereto (i) hereby irrevocably submits to the jurisdiction
of any United States District Court of competent jurisdiction for the purpose
of enforcing the award or decision in any such proceeding, (ii) hereby
waives, and agrees not to assert, by way of motion, as a defense, or otherwise,
in any such suit, action or proceeding, any claim that it is not subject
personally to the jurisdiction of the above-named courts, that its property is
exempt or immune from attachment or execution (except as protected by
applicable law), that the suit, action or proceeding is brought in an
inconvenient forum, that the venue of the suit, action or proceeding is
improper or that this Agreement or the subject matter hereof may not be enforced
in or by such court, and hereby waives and agrees not to seek any review by any
court of any other jurisdiction which may be called upon to grant an
enforcement of the judgment of any such court. Each of the parties hereto
hereby consents to service of process by registered mail at the address to
which notices are to be given. Each of the parties hereto agrees that its, his
or her submission to

 

9

 

jurisdiction
and its, his or her consent to service of process by mail is made for the
express benefit of the other parties hereto. Final judgment against any party
hereto in any such action, suit or proceeding may be enforced in other
jurisdictions by suit, action or proceeding on the judgment, or in any other
manner provided by or pursuant to the laws of such other jurisdiction.

 

12.                                 Counterparts. For the
convenience of the parties and to facilitate execution, this Agreement may be
executed in two or more counterparts, each of which shall be deemed an original,
but all of which shall constitute one and the same document.

 

[SIGNATURE PAGE FOLLOWS]

 

10

 

The foregoing Agreement is hereby accepted and the
terms and conditions thereof hereby agreed to by the undersigned as of the date
first above written.

 

	
   

  	
  OPEN
  LINK FINANCIAL, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  Address:

  
	
   

  	
  Open
  Link Financial

  
	
   

  	
  Services, Inc.

  
	
   

  	
  1502
  Reckson Plaza

  
	
   

  	
  West
  Tower -15th Floor 

  
	
   

  	
  Uniondale,
  NY 11556-1502

  
				

 

The
foregoing Agreement is hereby accepted and the terms and conditions thereof
hereby agreed to by the undersigned as of the date first above written.

 

	
   

  	
  OPTIONEE:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Name:
  

  
	
   

  	
  Address:
  

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  

 

	
  [SPOUSE’S
  CONSENT

  
	
  I
  acknowledge that I have read the

  
	
  foregoing
  Non-Qualified Stock Option Agreement 

  
	
  and
  understand the contents thereof.

  
	
   

  
	
   

  
	
  ]

  	
   

  

 

11

 

	
   

  	
  DESIGNATED
  BENEFICIARY:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Beneficiary’s
  Address:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  

 

12

 

Appendix A

 

STOCK OPTION EXERCISE NOTICE

 

Open
Link Financial, Inc.

Attention:
Chief Financial Officer 

1502
Reckson Plaza

West
Tower -15th Floor 

Uniondale,
NY 11556-1502

 

Pursuant to the terms of my
stock option agreement dated           
(the “Agreement”) under the Open Link Financial, Inc. 2006 Stock
Option and Grant Plan, I, [Insert Name]                              , hereby [Circle One]
partially/fully exercise such option by including herein payment in the amount
of $                  representing the purchase
price for [Fill in number of Option Shares]              option
shares. I have chosen the following form(s) of payment:

 

	
   

  	
   

  	
  o

  	
   

  	
  1.

  	
  Cash

  
	
   

  	
   

  	
  o

  	
   

  	
  2.

  	
  Certified
  or bank check payable to Open Link Financial, Inc.

  
	
   

  	
   

  	
  o

  	
   

  	
  3.

  	
  Other
  (as described in the Agreement (please describe))

                                                                                                             .

  

 

In connection with my exercise of the option as set
forth above, I hereby represent and warrant to Open Link Financial, Inc.
as follows:

 

(i)                                        I am purchasing
the option shares for my own account for investment only, and not for resale or
with a view to the distribution thereof.

 

(ii)                                     I have had such
an opportunity as I have deemed adequate to obtain from Open Link Financial, Inc.
such information as is necessary to permit me to evaluate the merits and risks
of my investment in Open Link Financial, Inc. and have consulted with my
own advisers with respect to my investment in Open Link Financial, Inc.

 

(iii)                                  I have
sufficient experience in business, financial and investment matters to be able
to evaluate the risks involved in the purchase of the option shares and to make
an informed investment decision with respect to such purchase.

 

(iv)                                 I can afford a
complete loss of the value of the option shares and am able to bear the
economic risk of holding such option shares for an indefinite period of time.

 

(v)                                    I understand
that the option shares may not be registered under the Securities Act of 1933
or any applicable state securities or “blue sky” laws and may not be sold or
otherwise transferred or disposed of in the absence of an effective
registration statement under the Securities Act of 1933 and under any
applicable state securities or “blue sky” laws (or exemptions from the
registration requirement thereof). I further

 

13

 

acknowledge
that certificates representing option shares will bear restrictive legends
reflecting the foregoing.

 

	
   

  	
  Sincerely
  yours,

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Address:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  

 

14Exhibit 10.18

 

[Letterhead of Company]

 

                          
    , 2006

 

                                         

c/o TA Associates, Inc.

High Street Tower

125 High Street, Suite 2500

Boston, MA  02110

 

Dear Sirs and Madams:

 

This letter is being issued in connection
with the purchase by                                    (the “Fund”) of certain debt instruments
issued by Open Link Financial, Inc. (the “Company”).  The Fund desires actively to assist the
Company and each of its subsidiaries in developing, reviewing and considering
certain proposals and suggestions relating to the management of the Company’s
and each of its subsidiaries’ businesses and the Company and each of its
subsidiaries desires such assistance.  In
order to facilitate the Fund’s input with respect to the management of the
business of the Company and its subsidiaries, the Company agrees to grant to
the Fund the management rights described below and further agrees that it will
give due consideration to such input as may be provided by the Fund in the
exercise of such rights:

 

1.               the right, at
reasonable times and upon reasonable notice, to visit and inspect any
properties of the Company and each of its subsidiaries and to examine the books
of account of the Company and each of its subsidiaries (and to make copies
thereof and extracts therefrom) and discuss the affairs, finances, and accounts
of the Company and each of its subsidiaries, including, without limitation, any
budgets or operating plans adopted or proposed by management;

 

2.               the right to discuss, and provide advice with
respect to, the business operations, properties and financial and other
conditions of the Company and each of its subsidiaries with the Company’s and
each of its subsidiaries’ officers, employees and directors and the right to
consult with and advise the Company’s and each of its subsidiaries’ senior
management on matters materially affecting the business and affairs of the
Company and each of its subsidiaries; and

 

3.               the right to submit business proposals or suggestions
to the Company’s and each of its subsidiaries’ senior management from time to
time with the requirement that one or more members of the Company’s or such
subsidiaries’ senior management discuss such proposals or suggestions with the
Fund within a reasonable period 

 

 

after such submission and the right to call a meeting
with the Company’s or such subsidiaries’ senior management in order to discuss
such proposals or suggestions

 

4.               The Fund agrees,
and any representative of such Fund will agree, to hold in confidence and trust
and not use or disclose any confidential information provided to or learned by
it in connection with its rights.

 

All of the rights granted to the Fund
hereunder shall terminate on such date as such Fund no longer holds any equity
securities of the Company.

 

Please acknowledge your agreement by signing
below and returning the executed letter via facsimile and regular mail to the
address listed above.

 

Thank you for your consideration.

 

	
   

  	
  Sincerely,

  
	
   

  	
   

  	
   

  
	
   

  	
  OPEN LINK FINANCIAL, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
  Coleman Fung

  
	
   

  	
  Title:

  	
  Chief Executive Officer

  
				

 

 

[Signature Page to Management Rights Letter –                                           .]

 

 

Acknowledged
as agreed as of                         
    , 2006:

 

	
   

  	
   

  	
   

  

By:                                            ,
its General Partner

By:  TA Associates, Inc., its General Partner

 

	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
  Jonathan W.
  Meeks

  
	
   

  	
  Title:

  
	
   

  	
   

  
				

 

[Signature Page to Management Rights Letter –                                             ]

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