Document:

exv10w16

Exhibit 10.16

BLACKBOARD INC.

Restricted Stock Agreement

	 	 	 	 	 	 	 
	 

	 	Name of Participant:	 	 	 	 
	 

	 	 	 	 

	 	 
	 

	 	Number of shares of restricted common stock awarded:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Grant Date:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Vesting Date:	 	 	 	 
	 

	 	 	 	 	 	 

     Blackboard Inc. (the “Company”) has selected you to receive the restricted stock award
described above, which is subject to the provisions of the Company’s 2004 Stock Incentive Plan (the
“Plan”) and the terms and conditions contained in this Restricted Stock Agreement. Please confirm
your acceptance of this restricted stock award and of the terms and conditions of this Agreement by
signing a copy of this Agreement where indicated below.

	 	 	 	 	 
	 	Blackboard Inc.

 	 
	 	
 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Accepted and Agreed:

	 
	 

	 	 
	[Name of Participant]
	 	 

 

 

BLACKBOARD INC.

Restricted Stock Agreement 

Granted Under 2004 Stock Incentive Plan

     The terms and conditions of the award of shares of restricted common stock of the Company (the
“Restricted Shares”) made to the Participant, as set forth on the cover page of this Agreement, are
as follows:

     1. Issuance of Restricted Shares.

          (a) The Restricted Shares are issued to the Participant, effective as of the Grant Date (as
set forth on the cover page of this Agreement), in consideration of employment, director or other
services rendered and to be rendered by the Participant to the Company.

          (b) As promptly as practicable following the Grant Date, the Company shall cause the issuance
by certificates or other form in favor of the Participant for the Restricted Shares. If
certificates, such certificate(s) shall initially be held on behalf of the Participant by the
Secretary of the Company or his/her designee. Following the vesting of any Restricted Shares
pursuant to Section 2 below, the Secretary shall, if requested by the Participant, deliver to the
Participant a certificate representing the vested Restricted Shares or issue such Restricted Shares
in any other manner designated by the plan administrator.

     2. Vesting.

          (a) Vesting Schedule. Unless otherwise provided in this Agreement or the Plan, the
Restricted Shares shall vest in accordance with the following vesting schedule:

          [Insert vesting schedule]

Any fractional number of Restricted Shares resulting from the application of the foregoing
percentages shall be rounded down to the nearest whole number of Restricted Shares.

          (b) Certain Events. Notwithstanding the foregoing vesting schedule, upon the
occurrence of a Reorganization Event or a Change in Control Event (as defined in the Plan), except
to the extent specifically provided to the contrary in any other agreement between the Participant
and the Company, the vesting hereunder shall be accelerated so that such additional number of
Restricted Shares which otherwise would have first vested within 12 months following such
Reorganization Event or Change in Control Event shall become immediately vested, and any remaining
unvested Restricted Shares shall continue to vest in accordance with the vesting schedule set forth
herein as though such 12 month period had actually passed. If within 12 months of a Reorganization
Event or a Change in Control Event, the Participant ceases to be an Eligible Participant due to
termination by the Company of its relationship with the Participant without Cause (as defined
below) or a Constructive Termination (as defined below) of the Participant, except to the extent
specifically provided to the contrary in any other agreement between the Participant and the
Company, the vesting hereunder shall be further accelerated so that the number of Restricted Shares
which otherwise would have first vested

 

 

within 24 months following such termination or Constructive Termination (“Additional
Acceleration”) shall become immediately vested, provided that the acceleration periods under this
Section 2(b) shall be cumulative, and any remaining unvested Restricted Shares shall continue to
vest in accordance with the vesting schedule set forth herein as though such additional 24 month
period had actually passed. Without prior notice to the Participant, the Company’s Compensation
Committee may accelerate the vesting hereunder upon a resolution of the Compensation Committee duly
passed and approved.

     For the purposes of this agreement, a “Constructive Termination” is deemed to have occurred if
the Participant is relocated outside of the Participant’s then residential area without his or her
consent or there is a material diminution of the Participant’s compensation, duties or
responsibilities without his or her consent.

     In the event that the Participant dies, becomes disabled (within the meaning of
Section 22(e)(3) of the Code) or is terminated without Cause (as defined below), the vesting
hereunder shall be accelerated so that the number of Restricted Shares which otherwise would have
first vested within 12 months following such termination shall become immediately vested; provided
that this sentence shall not apply if Additional Acceleration has occurred.

     3. Forfeiture of Unvested Restricted Shares Upon Employment Termination.

     In the event that the Participant ceases to be for any reason or no reason, with or without
cause (except as provided in Section 2(b) above), an employee, officer or director of, or
consultant or advisor to, the Company or any other entity the employees, officers, directors,
consultants, or advisors of which are eligible to receive grants under the Plan, all of the
Restricted Shares that are unvested as of the time of such employment termination shall be
forfeited immediately and automatically to the Company, without the payment of any consideration to
the Participant, effective as of such termination of employment. The Participant shall have no
further rights with respect to any Restricted Shares that are so forfeited. If the Participant is
employed by a subsidiary of the Company, any references in this Agreement to employment with the
Company shall instead be deemed to refer to employment with such subsidiary. Notwithstanding the
foregoing, if the Participant violates the non-competition or confidentiality provisions of any
employment contract, confidentiality and nondisclosure agreement or other agreement between the
Participant and the Company, any unvested Restricted Shares shall terminate immediately upon notice
by the Company to Participant of such violation.

     4. Restrictions on Transfer.

     The Participant shall not sell, assign, transfer, pledge, hypothecate or otherwise dispose of,
by operation of law or otherwise (collectively “transfer”) any Restricted Shares, or any interest
therein, until such Restricted Shares have vested, except that the Participant may transfer such
Restricted Shares: (a) to or for the benefit of any spouse, children, parents, uncles, aunts,
siblings, grandchildren and any other relatives approved by the Compensation Committee
(collectively, “Approved Relatives”) or to a trust established solely for the benefit of the
Participant and/or Approved Relatives, provided that such Restricted Shares shall remain
subject to this Agreement (including without limitation the forfeiture provisions set forth in
Section 3 and the restrictions on transfer set forth in this Section 4) and such permitted
transferee shall, as a

 

 

condition to such transfer, deliver to the Company a written instrument confirming that such
transferee shall be bound by all of the terms and conditions of this Agreement; or (b) as part of
the sale of all or substantially all of the shares of capital stock of the Company (including
pursuant to a merger or consolidation). The Company shall not be required (i) to transfer on its
books any of the Restricted Shares which have been transferred in violation of any of the
provisions of this Agreement or (ii) to treat as owner of such Restricted Shares or to pay
dividends to any transferee to whom such Restricted Shares have been transferred in violation of
any of the provisions of this Agreement.

     5. Restrictive Legends.

     All certificates representing Restricted Shares shall have affixed thereto a legend in
substantially the following form, in addition to any other legends that may be required under
applicable law:

     “These shares of stock are subject to forfeiture provisions and restrictions on transfer set
forth in a certain Restricted Stock Agreement between the corporation and the registered owner of
these shares (or his or her predecessor in interest), and such Agreement is available for
inspection without charge at the office of the Secretary of the corporation.”

     6. Rights as a Shareholder.

     Except as otherwise provided in this Agreement, for so long as the Participant is the
registered owner of the Restricted Shares, the Participant shall have all rights as a shareholder
with respect to the Restricted Shares, whether vested or unvested, including, without limitation,
any rights to receive dividends and distributions with respect to the Restricted Shares and to vote
the Restricted Shares and act in respect of the Restricted Shares at any meeting of shareholders;
provided, however, that if any dividends or distributions are paid in shares, or consist of
a dividend or distribution to holders of Common Stock other than an ordinary cash dividend, the
shares, cash or other property will be subject to the same restrictions on transferability as the
Restricted Shares with respect to which they were paid.

     7. Provisions of the Plan.

     This Agreement is subject to the provisions of the Plan, a copy of which is furnished to the
Participant with this Agreement. As provided in the Plan, upon the occurrence of a Reorganization
Event (as defined in the Plan), the rights of the Company hereunder (including the right to receive
forfeited Restricted Shares) shall inure to the benefit of the Company’s successor and, unless the
Board determines otherwise, shall apply to the cash, securities or other property which the
Restricted Shares were converted into or exchanged for pursuant to such Reorganization Event in the
same manner and to the same extent as they applied to the Restricted Shares under this Agreement.

     8. Tax Matters.

          (a) Acknowledgments; Section 83(b) Election. The Participant acknowledges that he or
she is responsible obtaining the advice of the Participant’s own tax advisors with respect to the
acquisition of the Restricted Shares and the Participant is relying solely on such

 

 

advisors and not on any statements or representations of the Company or any of its agents with
respect to the tax consequences relating to the Restricted Shares. The Participant understands
that the Participant (and not the Company) shall be responsible for the Participant’s tax liability
that may arise in connection with the acquisition, vesting and/or disposition of the Restricted
Shares. The Participant acknowledges that he or she has been informed of the availability of
making an election under Section 83(b) of the Internal Revenue Code, as amended, with respect to
the issuance of the Restricted Shares and that the Participant has decided not to file a Section
83(b) election.

          (b) Withholding. The Participant acknowledges and agrees that the Company has the
right to deduct from payments of any kind otherwise due to the Participant any federal, state,
local or other taxes of any kind required by law to be withheld with respect to the vesting of the
Restricted Shares. On each date on which Restricted Shares vest, the Company shall deliver written
notice to the Participant of the amount of withholding taxes due with respect to the vesting of the
Restricted Shares that vest on such date; provided, however, that the total tax withholding cannot
exceed the Company’s minimum statutory withholding obligations (based on minimum statutory
withholding rates for federal and state tax purposes, including payroll taxes, that are applicable
to such supplemental taxable income). The Participant may, at the option of the Participant,
satisfy such tax withholding obligations by transferring to the Company, on each date on which
Restricted Shares vest under this Agreement, such number of Restricted Shares that vest on such
date as have a fair market value (calculated using the last reported sale price of the common stock
of the Company on the NASDAQ National Market on the trading date immediately prior to such vesting
date) equal to the amount of the Company’s tax withholding obligation in connection with the
vesting of such Restricted Shares. To effect such delivery of Restricted Shares, the Participant
shall deliver a written notice to the Company that authorizes the Company to take any actions
necessary or appropriate to cancel any certificate(s) representing such Restricted Shares and
transfer ownership of such Restricted Shares to the Company; and if the Company or its transfer
agent requires an executed stock power or similar confirmatory instrument in connection with such
cancellation and transfer, the Participant shall promptly execute and deliver the same to the
Company.

     9. Miscellaneous.

          (a) No Right to Continued Employment. The Participant acknowledges and agrees that,
notwithstanding the fact that the vesting of the Restricted Shares is contingent upon his or her
continued employment by the Company, this Agreement does not constitute an express or implied
promise of continued employment or confer upon the Participant any rights with respect to continued
employment by the Company.

          (b) Governing Law. This Agreement shall be construed, interpreted and enforced in
accordance with the internal laws of the State of Delaware without regard to any applicable
conflicts of laws provisions.

          (c) Agreement in Connection with Public Offering. The Participant agrees, in
connection with an underwritten public offering of the Company’s securities pursuant to a
registration statement under the Securities Act, (i) not to sell, make short sale of, loan, grant
any options for the purchase of, or otherwise dispose of any shares of Common Stock held by the

 

 

Participant (other than those shares included in the offering) without the prior written
consent of the Company or the underwriters managing such initial underwritten public offering of
the Company’s securities for a period of 90 days from the effective date of such registration
statement, and (ii) to execute any agreement reflecting clause (i) above as may be requested by the
Company or the managing underwriters at the time of such offering.

          (d) Participant’s Acknowledgments. The Participant acknowledges that he or she has
read this Agreement, has received and read the Plan, and understands the terms and conditions of
this Agreement and the Plan.

[END OF AGREEMENT]exv10w1

Exhibit 10.1

FORRESTER RESEARCH, INC.

400 Technology Square

Cambridge, MA 02139

EXECUTIVE CASH INCENTIVE PLAN

On February 10, 2010 (the “Effective Date”), the Compensation and Nominating Committee (the
“Committee”) of the Board of Directors of Forrester Research, Inc. (the “Company”) adopted this
2010 Executive Incentive Plan (the “Plan”).

1. Purpose of the Plan

          The purpose of this Plan is to reward the executive officers of the Company for their
contributions toward the achievement of certain Company financial and strategic goals and for their
individual performance. Except where the context otherwise requires, the term “Company”, as used
in this Plan, includes any of the Company’s present or future parent or subsidiary corporations or
entities. The term “Plan year” will mean the calendar year.

2. Administration

          The Committee will administer and have final authority on all matters relating to the Plan.
The Committee may interpret and construe the Plan, decide all matters arising under or in
connection with the Plan, and reconcile any inconsistency in the Plan in the manner and to the
extent it deems appropriate to carry into effect the Plan. The Committee may amend, suspend,
revoke or terminate the Plan at any time. All payouts under the Plan are subject to the prior
approval of the Committee. Decisions by the Committee will be in the Committee’s sole discretion
and will be final and binding on all persons having or claiming any interest in the Plan.

3. Eligibility

All of the Company’s executive officers, and such other key employees as the Committee designates,
will be eligible to participate in the Plan. Each executive officer and other designated employee,
if any, is deemed a “Participant” in the Plan. Except as otherwise provided in this Plan, Participants must be employed by the Company on the last day of the
applicable Plan year in order to receive a bonus, if any, under this Plan; provided that the
Committee may provide for payment of a prorated bonus under the Plan in the case of an employee who
first becomes a Plan Participant during the course of a Plan year, or in the case of a Participant
who ceases to be eligible to participate in the Plan during the course of a Plan year.

 

 

4. Plan Overview; Target Bonus; Performance Components

Each Plan year the Committee will designate those Participants eligible to earn a target bonus
amount (“Target Bonus”) under the Plan and each Participant’s Target Bonus. Actual bonus payouts
will be based on Company Performance (as defined below) for the applicable Plan year, modified
upward or downward for Team Performance and Individual Performance (as defined below). The
relative weightings of Team Performance and Individual Performance for any Plan year will be
determined by the Committee for each Participant and may vary among Participants.

	 	4.1	 	Company Performance. Company performance levels are set annually in a matrix
derived from the Company’s operating plan for the Plan year, with the matrix approved
by the Committee during the first quarter of the Plan year (“Company Performance”),
subject to adjustment, in the Committee’s discretion, to the extent deemed necessary
or appropriate under the circumstances (for example, in the event of an acquisition or
divestiture or a significant restructuring charge).
	 
	 	4.2	 	Team Performance. Within a reasonable period of time after the commencement
of each Plan year, after taking into consideration the recommendations of the Chief
Executive Officer, the Committee will assign team performance goals applicable to all
Participants, with each team performance goal assigned a weight representing the
percentage of the total bonus payout for that year attributable to achievement of such
goal (“Team Performance”). Performance relative to each Team Performance goal will be
scored on a scale of 0.00 to 1.50, with a score of 1.00 representing target
performance. The Committee may amend or modify any Team Performance goal or the weight
assigned to a goal, or substitute a goal in place of an existing goal, to the extent
equitable under the circumstances (for example, in the event of an acquisition or
divestiture or a significant restructuring charge).
	 
	 	4.3	 	Individual Performance. The Chief Executive Officer and Chief Operating
Officer will recommend individual performance goals for Participants reporting directly to one or the other, and within a reasonable
period of time after the commencement of each Plan year, the Committee will
approve goals for each Participant, with each individual performance goal
assigned a weight representing the percentage of the total bonus payout for
that year attributable to the achievement of such goal (“Individual
Performance”). Each Participant’s performance relative to each Individual
Performance goal will be scored on a scale of 0.00 to 1.50, with a score of
1.00 representing target performance. The Committee may amend or

 

 

	 	 	 	modify any Individual Performance goal or the weight assigned to a goal, or substitute a
goal in place of an existing goal, to the extent equitable under the
circumstances (for example, in the event a Participant’s role or
responsibilities change during the year).

5. Participant Scores; Bonus Payouts. Within a reasonable period of time after the Company has
reported financial results for the Plan year, the Committee will review and approve, and each
Participant will receive, a scored assessment of his or her performance relative to each Team
Performance goal and Individual Performance goal, which will result in a personal score (“Personal
Score”) for each Participant. Each Participant’s Personal Score will be applied to the Company
Performance level for the year to determine the percentage of the Participant’s Target Bonus, if
any, payable to such Participant for the applicable Plan year.

Bonus payouts, if any, under the Plan, will be determined and paid in a single cash lump sum
following the end of the applicable Plan year, as soon as practicable after final determination of
the Company Performance level and each Participant’s Personal Score, and in any event no later than
March 15th following the end of the applicable Plan year.

Nothing in the Plan shall be construed as limiting the right of the Company to grant, or for the
Committee to approve, incentive awards in addition to or in lieu of a bonus granted or paid under
the Plan.

6. Change in a Participant’s Employment Circumstances. If a Participant is unable to complete any
Individual Performance goal because (i) the Participant takes an authorized leave of absence, (ii)
the Participant becomes disabled and qualifies for short-term or long-term disability benefits
under the Company’s disability plans, (iii) the Participant dies during a Plan year, or (iv) there
occurs any other extraordinary event beyond the reasonable control of the Participant, then the
Committee may equitably adjust the Participant’s Individual Performance score to credit progress
towards the Participant’s Individual Performance goals.

     7. Miscellaneous

7.1 No Right to Employment or other Status. This Plan does not give, and will not be
construed as giving, any Participant the right to continued employment or any other
relationship with the Company. The Company expressly reserves the right at any time to dismiss or otherwise terminate its relationship with any Participant
free from any liability or claim under the Plan, except as expressly provided otherwise in
the Plan, and except as may be otherwise provided in any applicable written agreement
between a Participant and the Company.

7.2 Non-U.S. Participants. The Company may modify the procedures set forth herein
with respect to bonus payouts for Participants who are non-U.S. nationals or who are
employed outside of the United States in order to comply with applicable laws and
regulations.

 

 

7.3 Governing Law. This Plan will be governed by and construed in accordance with the
internal laws of the Commonwealth of Massachusetts without giving effect to any choice or
conflict of law provision.

7.4 Section 409A of the Code. Payments under the Plan are intended to constitute
“short-term deferrals” for purposes of Section 409A of the Internal Revenue Code of 1986,
as amended, and guidance issued under Section 409A of the Code, and shall be construed
accordingly. Notwithstanding the above, neither the Company, nor any subsidiary, nor the
Committee, nor any person acting on behalf of the Company, any subsidiary, or the
Committee, shall be liable to any participant or to the estate or beneficiary of any
participant by reason of any acceleration of income, or any additional tax, asserted by
reason of the failure of a payment to satisfy the requirements of Section 409A of the Code.

7.5 Tax Withholding. All payments under the Plan shall be subject to reduction for
applicable tax and other legally or contractually required withholdings.

7.6 Plan to be Unfunded, Etc. The Plan is intended to constitute an unfunded incentive
compensation arrangement. Nothing contained in the Plan, and no action taken pursuant to
the Plan, shall create or be construed to create a trust of any kind. A participant’s
right to receive a bonus shall be no greater than the right of an unsecured general
creditor of the Company. All bonuses shall be paid from the general funds of the Company,
and no special or separate fund shall be established and no segregation of assets shall be
made to assure payment of such bonuses. There shall not vest in any Participant or
beneficiary any right, title, or interest in and to any specific assets of the Company.

7.7 Amendment and Termination. The Company may terminate the Plan at any time and may
amend the Plan at any time and from time to time, with or without retroactive effect,
including without limitation amendments that change the form or timing of bonus payments
hereunder.

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