Document:

1998 Nonstatutory Stock Option Plan

Exhibit 10.12 
 
BORLAND SOFTWARE CORPORATION 
 
1998 NONSTATUTORY STOCK OPTION PLAN 
 

	 	1.	 	ESTABLISHMENT, PURPOSE AND TERM OF
PLAN. 

 
1.1    Establishment.  The Borland Software Corporation 1998 Nonstatutory Stock Option Plan (the “Plan”) is hereby established
effective as of January 28, 1998 (the “Effective Date”). 
 
1.2    Purpose.  The purpose of the Plan is to advance the interests of the Participating Company
Group and its stockholders by providing an incentive to attract, retain and reward persons performing services for the Participating Company Group and by motivating such persons to contribute to the growth and profitability of the Participating
Company Group. 
 
1.3    Term of Plan.  The Plan shall continue in effect until the earlier of its termination by the Board or the date on which all of the shares of Stock available for issuance under the Plan have
been issued and all restrictions on such shares under the terms of the Plan and the agreements evidencing Options granted under the Plan have lapsed. 
 

	 	2.	 	DEFINITIONS AND CONSTRUCTION. 

 
2.1    Definitions.  Whenever used herein, the following terms shall have their respective meanings set forth below: 
 
(a)    “Board” means the Board of Directors of the
Company. If one or more Committees have been appointed by the Board to administer the Plan, “Board” also means such Committee(s). 
 
(b)    “Code” means the Internal Revenue Code of
1986, as amended, and any applicable regulations promulgated thereunder. 
 
(c)    “Committee” means the Compensation Committee or other committee of the Board duly appointed to administer the Plan and having such powers as shall be specified
by the Board. Unless the powers of the Committee have been specifically limited, the Committee shall have all of the powers of the Board granted herein, including, without limitation, the power to amend or terminate the Plan at any time, subject to
the terms of the Plan and any applicable limitations imposed by law. 
 
(d)    “Company” means Borland Software Corporation, a Delaware corporation, or any successor corporation thereto. 
 

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(e)    “Consultant” means any person, including an advisor, engaged by a Participating Company to render services other than as an Employee or a Director. 
 
(f)    “Director” means a member of the Board. 
 
(g)    “Disability” means the permanent and total disability of the Optionee
within the meaning of Section 22(e)(3) of the Code. 
 
(h)    “Employee” means any person treated as an employee in the records of a Participating Company. The Company shall determine in good faith and in the exercise of its
discretion whether an individual has become or has ceased to be an Employee and the effective date of such individual’s employment or termination of employment, as the case may be. For purposes of an individual’s rights, if any, under the
Plan as of the time of the Company’s determination, all such determinations by the Company shall be final, binding and conclusive, notwithstanding that the Company or any governmental agency subsequently makes a contrary determination.

 
(i)    “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
 
(j)    “Fair Market Value” means, as of any date, the value of a share of Stock
or other property as determined by the Board, in its sole discretion, or by the Company, in its sole discretion, if such determination is expressly allocated to the Company herein, subject to the following: 
 
(i)    If, on such date, there is a
public market for the Stock, the Fair Market Value of a share of Stock shall be the closing price of a share of Stock (or the mean of the closing bid and asked prices of a share of Stock if the Stock is so quoted instead) as quoted on the Nasdaq
National Market, the Nasdaq Small-Cap Market or such other national or regional securities exchange or market system constituting the primary market for the Stock, as reported in the Wall Street Journal or such other source as the Company
deems reliable. If the relevant date does not fall on a day on which the Stock has traded on such securities exchange or market system, the date on which the Fair Market Value shall be established shall be the last day on which the Stock was so
traded prior to the relevant date, or such other appropriate day as shall be determined by the Board, in its sole discretion. 
 
(ii)    If, on such date, there is no public market for the Stock, the Fair Market Value of a share of Stock shall be
as determined by the Board without regard to any restriction other than a restriction which, by its terms, will never lapse. 
 
(k)    “Insider” means an officer or a Director of the Company or any other
person whose transactions in Stock are subject to Section 16 of the Exchange Act. 
 
(l)    “Nonstatutory Stock Option” means an Option not intended to be an incentive stock option within the meaning of Section 422(b) of the
Code. 
 

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(m)    “Option” means a right to purchase Stock (subject to adjustment as provided in Section 4.2) pursuant to the terms and conditions of the Plan. All Options shall be
Nonstatutory Stock Options. 
 
(n)    “Option Agreement” means a written agreement between the Company and an Optionee setting forth the terms, conditions and restrictions of the Option granted to the Optionee and
any shares acquired upon the exercise thereof. 
 
(o)    “Optionee” means a person who has been granted one or more Options. 
 
(p)    “Parent Corporation” means any present or future “parent
corporation” of the Company, as defined in Section 424(e) of the Code. 
 
(q)    “Participating Company” means the Company or any Parent Corporation or Subsidiary Corporation. 
 
(r)    “Participating
Company Group” means, at any point in time, all corporations collectively which are then Participating Companies. 
 
(s)    “Securities Act” means the Securities Act of 1933, as amended.

 
(t)    “Service” means an Optionee’s employment or service with the Participating Company Group, whether in the capacity of an Employee, a Director or a Consultant. An
Optionee’s Service shall not be deemed to have terminated merely because of a change in the capacity in which the Optionee renders Service to the Participating Company Group or a change in the Participating Company for which the Optionee
renders such Service, provided that there is no interruption or termination of the Optionee’s Service. An Optionee’s Service with the Participating Company Group shall not be deemed to have terminated if the Optionee takes any military
leave, sick leave, or other bona fide leave of absence approved by the Company; provided, however, that, unless otherwise designated by the Company or required by law, a leave of absence shall not be treated as Service for purposes of determining
vesting under the Optionee’s Option Agreement. An Optionee’s Service shall be deemed to have terminated either upon an actual termination of Service or upon the corporation for which the Optionee performs Service ceasing to be a
Participating Company. Subject to the foregoing, the Company, in its sole discretion, shall determine whether an Optionee’s Service has terminated and the effective date of such termination. 
 
(u)    “Stock” means the common stock of the Company, as adjusted from time to time in accordance with Section 4.2. 
 
(v)    “Subsidiary Corporation” means any present
or future “subsidiary corporation” of the Company, as defined in Section 424(f) of the Code. 
 

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2.2    Construction.  Captions and titles contained herein are for convenience only and shall not affect the meaning or interpretation of any provision of the Plan. Except when otherwise indicated
by the context, the singular shall include the plural and the plural shall include the singular. Use of the term “or” is not intended to be exclusive, unless the context clearly requires otherwise. 
 

	 	3.	 	ADMINISTRATION. 

 
3.1    Administration by the Board.  The Plan shall be
administered by the Board. All questions of interpretation of the Plan or of any Option shall be determined by the Board, and such determinations shall be final and binding upon all persons having an interest in the Plan or such Option. Any officer
of a Participating Company shall have the authority to act on behalf of the Company with respect to any matter, right, obligation, determination or election which is the responsibility of or which is allocated to the Company herein, provided the
officer has apparent authority with respect to such matter, right, obligation, determination or election. 
 
3.2    Powers of the Board.  In addition to any other powers set forth in
the Plan and subject to the provisions of the Plan, the Board shall have the full and final power and authority, in its sole discretion: 
 
(a)    to determine the persons to whom, and the time or times at which, Options shall be granted and the number of
shares of Stock to be subject to each Option; 
 
(b)    to determine the Fair Market Value of shares of Stock or other property; 
 
(c)    to determine the terms, conditions and restrictions applicable to each Option (which need not be identical)
and any shares acquired upon the exercise thereof, including, without limitation, (i) the exercise price of the Option, (ii) the method of payment for shares purchased upon the exercise of the Option, (iii) the method for satisfaction of any tax
withholding obligation arising in connection with the Option or such shares, including by the withholding or delivery of shares of stock, (iv) the timing, terms and conditions of the exercisability of the Option or the vesting of any shares acquired
upon the exercise thereof, (v) the time of the expiration of the Option, (vi) the effect of the Optionee’s termination of Service with the Participating Company Group on any of the foregoing, and (vii) all other terms, conditions and
restrictions applicable to the Option or such shares not inconsistent with the terms of the Plan; 
 
(d)    to approve one or more forms of Option Agreement; 
 
(e)    to amend, modify, extend, cancel, renew, or grant a new Option in substitution
for, any Option or to waive any restrictions or conditions applicable to any Option or any shares acquired upon the exercise thereof; 
 

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(f)    to accelerate, continue, extend or defer the exercisability of any Option or the vesting of any shares acquired upon the exercise thereof, including with respect to the period following an Optionee’s
termination of Service with the Participating Company Group; 
 
(g)    to delegate to any proper officer of the Company the authority to grant one or more Options, without further approval of the Board, to any person eligible pursuant to Section 5, other than a person who, at
the time of such grant, is an Insider; provided, however, that (i) such Options shall not be granted to any one person within any fiscal year of the Company for more than 250,000 shares in the aggregate, (ii) the exercise price per share of each
such Option shall be equal to the Fair Market Value per share of the Stock on the effective date of grant (or, if the Stock has not traded on such date, on the last day preceding the effective date of grant on which the Stock was traded), and (iii)
each such Option shall be subject to the terms and conditions of the appropriate standard form of Option Agreement approved by the Board and shall conform to the provisions of the Plan and such other guidelines as shall be established from time to
time by the Board; 
 
(h)    to prescribe, amend or rescind rules, guidelines and policies relating to the Plan, or to adopt supplements to, or alternative versions of, the Plan, including, without limitation, as the Board deems
necessary or desirable to comply with the laws of, or to accommodate the tax policy or custom of, foreign jurisdictions whose citizens may be granted Options; and 
 
(i)    to correct any defect, supply any omission or reconcile any inconsistency in the
Plan or any Option Agreement and to make all other determinations and take such other actions with respect to the Plan or any Option as the Board may deem advisable to the extent consistent with the Plan and applicable law. 
 

	 	4.	 	SHARES SUBJECT TO PLAN. 

 
4.1    Maximum Number of Shares
Issuable.  Subject to adjustment as provided in Section 4.2, the maximum aggregate number of shares of Stock that may be issued under the Plan shall be two hundred thousand (200,000) and shall consist of authorized but unissued or
reacquired shares of Stock or any combination thereof. If an outstanding Option for any reason expires or is terminated or canceled, or if shares of Stock acquired, subject to repurchase, upon the exercise of an Option are repurchased by the
Company, the shares of Stock allocable to the unexercised portion of such Option or such repurchased shares of Stock shall again be available for issuance under the Plan. 
 
4.2    Adjustments for Changes in Capital Structure.  In the event of
any stock dividend, stock split, reverse stock split, recapitalization, combination, reclassification or similar change in the capital structure of the Company, appropriate adjustments shall be made in the number and class of shares subject to the
Plan and to any outstanding Options and in the exercise price per share of any outstanding Options. If a majority of the shares which are of the same class as the shares that are subject to outstanding Options are exchanged for, converted 

 

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into, or otherwise become (whether or not pursuant to an Ownership Change Event, as defined in Section 8.1) shares of another corporation
(the “New Shares”), the Board may unilaterally amend the outstanding Options to provide that such Options are exercisable for New Shares. In the event of any such amendment, the number of shares subject to, and
the exercise price per share of, the outstanding Options shall be adjusted in a fair and equitable manner as determined by the Board, in its sole discretion. Notwithstanding the foregoing, any fractional share resulting from an adjustment pursuant
to this Section 4.2 shall be rounded up or down to the nearest whole number, as determined by the Board, and in no event may the exercise price of any Option be decreased to an amount less than the par value, if any, of the stock subject to the
Option. The adjustments determined by the Board pursuant to this Section 4.2 shall be final, binding and conclusive. 
 

	 	5.	 	ELIGIBILITY AND OPTION LIMITATIONS.

 
5.1    Persons Eligible for Options.  Options may be granted only to Employees and Consultants. For purposes of the foregoing sentence, “Employees” and “Consultants” shall
include prospective Employees and prospective Consultants to whom Options are granted in connection with written offers of employment or other service relationship with the Participating Company Group. However, notwithstanding any other provision
herein to the contrary, no person shall be eligible to be granted an Option under the Plan whose eligibility would require approval of the Plan by the stockholders of the Company under any law or regulation or the rules of any stock exchange or
market system upon which the Stock may then be listed. If not inconsistent with any such law, regulation or rule, an Option may be granted to a person, not previously employed by the Company, as an inducement essential to entering into an employment
contract with the Company. Eligible persons may be granted more than one (1) Option. 
 
5.2    Options Authorized.  Options granted under the Plan may only be Nonstatutory Stock Options. 
 

	 	6.	 	TERMS AND CONDITIONS OF OPTIONS. 

 
Options shall be evidenced by Option Agreements specifying the
number of shares of Stock covered thereby, in such form as the Board shall from time to time establish. No Option or purported Option shall be a valid and binding obligation of the Company unless evidenced by a fully executed Option Agreement.
Option Agreements may incorporate all or any of the terms of the Plan by reference and shall comply with and be subject to the following terms and conditions: 
 
6.1    Exercise Price.  The exercise price for each Option shall be established in the sole
discretion of the Board; provided, however, that the exercise price per share shall be not less than eighty-five percent (85%) of the Fair Market Value of a share of Stock on the effective date of grant of the Option. Notwithstanding the foregoing,
an Option may be granted with an exercise price lower than the minimum exercise price set forth above if such Option is granted 

 

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pursuant to an assumption or substitution for another option in the manner described in Section 424(a) of the Code. 
 
6.2    Exercise
Period.  Options shall be exercisable at such time or times, or upon such event or events, and subject to such terms, conditions, performance criteria, and restrictions as shall be determined by the Board and set forth in the Option
Agreement evidencing such Option; provided, however, that no Option granted to a prospective Employee or prospective Consultant may become exercisable prior to the date on which such person commences Service with a Participating Company. Subject to
the foregoing, unless otherwise specified by the Board in the grant of an Option, any Option granted hereunder shall have a term of ten (10) years from the effective date of the grant of the Option. 
 
6.3    Payment of Exercise Price.

 
(a)    Forms of
Consideration Authorized.  Except as otherwise provided below, payment of the exercise price for the number of shares of Stock being purchased pursuant to any Option shall be made (i) in cash, by check, or cash equivalent, (ii) by
tender to the Company of shares of Stock owned by the Optionee having a Fair Market Value (as determined by the Company without regard to any restrictions on transferability applicable to such stock by reason of federal or state securities laws or
agreements with an underwriter for the Company) not less than the exercise price, (iii) by the assignment of the proceeds of a sale or loan with respect to some or all of the shares being acquired upon the exercise of the Option (including, without
limitation, through an exercise complying with the provisions of Regulation T as promulgated from time to time by the Board of Governors of the Federal Reserve System) (a “Cashless Exercise”), (iv) provided that the
Optionee is an Employee, by cash for a portion of the aggregate exercise price not less than the par value of the shares being acquired and the Optionee’s promissory note in a form approved by the Company for the balance of the aggregate
exercise price, (v) by such other consideration as may be approved by the Board from time to time to the extent permitted by applicable law, or (vi) by any combination thereof. The Board may at any time or from time to time, by adoption of or by
amendment to the standard forms of Option Agreement described in Section 7, or by other means, grant Options which do not permit all of the foregoing forms of consideration to be used in payment of the exercise price or which otherwise restrict one
or more forms of consideration. 
 
(b)    Tender of Stock.  Notwithstanding the foregoing, an Option may not be exercised by tender to the Company of shares of Stock to the extent such tender of Stock would constitute
a violation of the provisions of any law, regulation or agreement restricting the redemption of the Company’s stock. Unless otherwise provided by the Board, an Option may not be exercised by tender to the Company of shares of Stock unless such
shares either have been owned by the Optionee for more than six (6) months or were not acquired, directly or indirectly, from the Company. 
 
(c)    Cashless Exercise.  The Company reserves, at any and all times, the right, in the
Company’s sole and absolute discretion, to establish, decline to approve or 

 

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terminate any program or procedures for the exercise of Options by means of a Cashless Exercise. 
 
(d)    Payment by Promissory
Note.  No promissory note shall be permitted if the exercise of an Option using a promissory note would be a violation of any law. Any permitted promissory note shall be on such terms as the Board shall determine at the time the
Option is granted. The Board shall have the authority to permit or require the Optionee to secure any promissory note used to exercise an Option with the shares of Stock acquired upon the exercise of the Option or with other collateral acceptable to
the Company. Unless otherwise provided by the Board, if the Company at any time is subject to the regulations promulgated by the Board of Governors of the Federal Reserve System or any other governmental entity affecting the extension of credit in
connection with the Company’s securities, any promissory note shall comply with such applicable regulations, and the Optionee shall pay the unpaid principal and accrued interest, if any, to the extent necessary to comply with such applicable
regulations. 
 
6.4    Tax
Withholding.  The Company shall have the right, but not the obligation, to deduct from the shares of Stock issuable upon the exercise of an Option, or to accept from the Optionee the tender of, a number of whole shares of Stock having
a Fair Market Value, as determined by the Company, equal to all or any part of the federal, state, local and foreign taxes, if any, required by law to be withheld by the Participating Company Group with respect to such Option or the shares acquired
upon the exercise thereof. Alternatively or in addition, in its sole discretion, the Company shall have the right to require the Optionee, through payroll withholding, cash payment or otherwise, including by means of a Cashless Exercise, to make
adequate provision for any such tax withholding obligations of the Participating Company Group arising in connection with the Option or the shares acquired upon the exercise thereof. The Company shall have no obligation to deliver shares of Stock
until the Participating Company Group’s tax withholding obligations have been satisfied by the Optionee. 
 
6.5    Effect of Termination of Service. 
 
(a)    Option Exercisability.  Subject to earlier termination of
the Option as otherwise provided herein, an Option shall be exercisable after an Optionee’s termination of Service as follows: 
 
(i)    Disability.  If the Optionee’s Service with the Participating Company Group is
terminated because of the Disability of the Optionee, the Option, to the extent unexercised and exercisable on the date on which the Optionee’s Service terminated, may be exercised by the Optionee (or the Optionee’s guardian or legal
representative) at any time prior to the expiration of twelve (12) months (or such longer or shorter period of time as determined by the Board, in its sole discretion) after the date on which the Optionee’s Service terminated, but in any event
no later than the date of expiration of the Option’s term as set forth in the Option Agreement evidencing such Option (the “Option Expiration Date”). 
 
(ii)    Death.  If the
Optionee’s Service with the Participating Company Group is terminated because of the death of the Optionee, the Option, to the extent 
 

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unexercised and exercisable on the date on which the Optionee’s Service terminated, may be exercised by the Optionee’s legal
representative or other person who acquired the right to exercise the Option by reason of the Optionee’s death at any time prior to the expiration of twelve (12) months (or such longer or shorter period of time as determined by the Board, in
its sole discretion) after the date on which the Optionee’s Service terminated, but in any event no later than the Option Expiration Date. The Optionee’s Service shall be deemed to have terminated on account of death if the Optionee dies
within three (3) months after the Optionee’s termination of Service. 
 
(iii)    Other Termination of Service.  If the Optionee’s Service with the Participating Company Group terminates for any reason, except Disability, death or
Cause, as provided in Section 6.5(d) below, the Option, to the extent unexercised and exercisable by the Optionee on the date on which the Optionee’s Service terminated, may be exercised by the Optionee within three (3) months (or such longer
or shorter period of time as determined by the Board, in its sole discretion) after the date on which the Optionee’s Service terminated, but in any event no later than the Option Expiration Date. 
 
(b)    Extension if Exercise
Prevented by Law.  Notwithstanding the foregoing, if the exercise of an Option within the applicable time periods set forth in Section 6.5(a) is prevented by the provisions of Section 11 below, the Option shall remain exercisable
until three (3) months after the date the Optionee is notified by the Company that the Option is exercisable, but in any event no later than the Option Expiration Date. 
 
(c)    Extension if Optionee Subject to
Section16(b).  Notwithstanding the foregoing, if a sale within the applicable time periods set forth in Section 6.5(a) of shares acquired upon the exercise of the Option would subject the Optionee to suit under Section 16(b) of the
Exchange Act, the Option shall remain exercisable until the earliest to occur of (i) the tenth (10th) day following the date on which a sale of such shares by the Optionee would no longer be subject to such suit, (ii) the one hundred and ninetieth
(190th) day after the Optionee’s termination of Service, or (iii) the Option Expiration Date. 
 
(d)    Termination for Cause.  Except as otherwise provided in a contract of employment or
service between a Participating Company and an Optionee, and notwithstanding any other provision of the Plan to the contrary, if the Optionee’s Service with the Participating Company Group is terminated for Cause as defined below, the Option
shall terminate and cease to be exercisable immediately upon such termination of Service. For purposes of this Section 6.5(d), “Cause” shall mean any of the following: (1) the Optionee’s theft, dishonesty, or
falsification of any Participating Company documents or records; (2) the Optionee’s improper use or disclosure of a Participating Company’s confidential or proprietary information; (3) any action by the Optionee which has a detrimental
effect on a Participating Company’s reputation or business; (4) the Optionee’s failure or inability to perform any reasonable assigned duties after written notice from the Participating Company Group of, and a reasonable opportunity to
cure, such failure or inability; (5) any material breach by the Optionee of any agreement of employment or service between the Optionee and the Participating Company Group, which breach is not cured pursuant to the terms of such agreement; or (6)
the Optionee’s 
 

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conviction (including any plea of guilty or nolo contendere) of any criminal act which impairs the Optionee’s ability to perform his or
her duties with the Participating Company Group. A determination by the Board that the Optionee was terminated for Cause shall be final and binding upon the Optionee for all purposes and shall not be subject to review by any governmental agency or
court of law. 
 

	 	7.	 	STANDARD FORMS OF OPTION AGREEMENT.

 
7.1    Nonstatutory Stock Option Agreement.  Unless otherwise provided by the Board at the time the Option is granted, each Option shall comply with and be subject to the terms and conditions set
forth in the appropriate form of Nonstatutory Stock Option Agreement adopted by the Board concurrently with its adoption of the Plan and as amended from time to time. 
 
7.2    Authority to Vary Terms.  The Board shall have the authority from
time to time to vary the terms of any of the standard forms of Option Agreement described in this Section 7 either in connection with the grant or amendment of an individual Option or in connection with the authorization of a new standard form or
forms; provided, however, that the terms and conditions of any such new, revised or amended standard form or forms of Option Agreement are not inconsistent with the terms of the Plan. 
 

	 	8.	 	CHANGE IN CONTROL. 

 
8.1    Definitions.  Except as otherwise determined by the Board and set forth in an Option Agreement, the following terms shall have their respective meanings set forth below: 
 
(a)    An
“Ownership Change Event” shall be deemed to have occurred if any of the following occurs with respect to the Company: 
 
(i)    the direct or indirect sale or exchange in a single or series of related
transactions by the stockholders of the Company of more than fifty percent (50%) of the voting stock of the Company; 
 
(ii)    a merger or consolidation in which the Company is a party; 
 
(iii)    the sale, exchange, or transfer
of all or substantially all of the assets of the Company; or 
 
(iv)    a liquidation or dissolution of the Company. 
 
(b)    A “Change in Control” shall mean an Ownership Change Event or a series of related
Ownership Change Events (collectively, the “Transaction”) wherein the stockholders of the Company immediately before the Transaction do not retain immediately after the Transaction, in substantially the same proportions as
their ownership of shares of the Company’s voting stock immediately before the Transaction, direct or indirect beneficial 
 

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ownership of more than fifty percent (50%) of the total combined voting power of the outstanding voting stock of the Company or the
corporation or corporations to which the assets of the Company were transferred (the “Transferee Corporation(s)”), as the case may be. For purposes of the preceding sentence, indirect beneficial
ownership shall include, without limitation, an interest resulting from ownership of the voting stock of one or more corporations which, as a result of the Transaction, own the Company or the Transferee Corporation(s), as the case may be, either
directly or through one or more subsidiary corporations. The Board shall have the right to determine whether multiple sales or exchanges of the voting stock of the Company or multiple Ownership Change Events are related, and its determination shall
be final, binding and conclusive. 
 
8.2    Effect of Change in Control on Options.  In the event of a Change in Control, the surviving, continuing, successor, or purchasing corporation or parent corporation thereof, as the case may
be (the “Acquiring Corporation”), may either assume the Company’s rights and obligations under outstanding Options or substitute for outstanding Options substantially equivalent options for
the Acquiring Corporation’s stock. For purposes of this Section 8.2, an Option shall be deemed assumed if, following the Change in Control, the Option confers the right to purchase in accordance with its terms and conditions, for each share of
Stock subject to the Option immediately prior to the Change in Control, the consideration (whether stock, cash or other securities or property) to which a holder of a share of Stock on the effective date of the Change in Control was entitled. The
Board may, in its sole discretion, provide in any Option Agreement that, in the event of a Change in Control, the exercisability and vesting of the outstanding Option shall accelerate upon such circumstances and to such extent as specified in such
Option Agreement. The exercise or vesting of any Option that was permissible solely by reason of such provision shall be conditioned upon the consummation of the Change in Control. Any Options which are neither assumed or substituted for by the
Acquiring Corporation in connection with the Change in Control nor exercised as of the date of the Change in Control shall terminate and cease to be outstanding effective as of the date of the Change in Control. Notwithstanding the foregoing, if the
corporation the stock of which is subject to the outstanding Options immediately prior to an Ownership Change Event described in Section 8.1(a)(i) constituting a Change in Control is the surviving or continuing corporation and immediately after such
Ownership Change Event less than fifty percent (50%) of the total combined voting power of its voting stock is held by another corporation or by other corporations that are members of an affiliated group within the meaning of Section 1504(a) of the
Code without regard to the provisions of Section 1504(b) of the Code, the outstanding Options shall not terminate unless the Board otherwise provides in its sole discretion. 
 

	 	9.	 	PROVISION OF INFORMATION. 

 
Each Optionee shall be given access to information concerning
the Company equivalent to that information generally made available to the Company’s common stockholders. 
 

	 	10.	 	TRANSFERABILITY OF OPTIONS. 

 

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During the
lifetime of the Optionee, an Option shall be exercisable only by the Optionee or the Optionee’s guardian or legal representative. No Option shall be assignable or transferable by the Optionee, except by will or by the laws of descent and
distribution. Notwithstanding the foregoing, an Option shall be assignable or transferable to the extent permitted by the Board and set forth in the Option Agreement evidencing such Option. 
 

	 	11.	 	COMPLIANCE WITH SECURITIES LAW. 

 
The grant of Options and the issuance of shares of Stock upon
exercise of Options shall be subject to compliance with all applicable requirements of federal, state or foreign law with respect to such securities. Options may not be exercised if the issuance of shares of Stock upon exercise would constitute a
violation of any applicable federal, state or foreign securities laws or other law or regulations or the requirements of any stock exchange or market system upon which the Stock may then be listed. In addition, no Option may be exercised unless (a)
a registration statement under the Securities Act shall at the time of exercise of the Option be in effect with respect to the shares issuable upon exercise of the Option or (b) in the opinion of legal counsel to the Company, the shares issuable
upon exercise of the Option may be issued in accordance with the terms of an applicable exemption from the registration requirements of the Securities Act. The inability of the Company to obtain from any regulatory body having jurisdiction the
authority, if any, deemed by the Company’s legal counsel to be necessary to the lawful issuance and sale of any shares hereunder shall relieve the Company of any liability in respect of the failure to issue or sell such shares as to which such
requisite authority shall not have been obtained. As a condition to the exercise of any Option, the Company may require the Optionee to satisfy any qualifications that may be necessary or appropriate, to evidence compliance with any applicable law
or regulation and to make any representation or warranty with respect thereto as may be requested by the Company. 
 

	 	12.	 	INDEMNIFICATION. 

 
In addition to such other rights of indemnification as they may have as members of the Board or officers or employees of the Participating
Company Group, members of the Board and any officers or employees of the Participating Company Group to whom authority to act for the Board or the Company is delegated shall be indemnified by the Company against all reasonable expenses, including
attorneys’ fees, actually and necessarily incurred in connection with the defense of any action, suit or proceeding, or in connection with any appeal therein, to which they or any of them may be a party by reason of any action taken or failure
to act under or in connection with the Plan, or any right granted hereunder, and against all amounts paid by them in settlement thereof (provided such settlement is approved by independent legal counsel selected by the Company) or paid by them in
satisfaction of a judgment in any such action, suit or proceeding, except in relation to matters as to which it shall be adjudged in such action, suit or proceeding that such person is liable for gross negligence, bad faith or intentional misconduct
in duties; provided, however, that within sixty (60) days after the institution of such action, suit or proceeding, such person shall offer to the Company, in writing, the opportunity at its own expense to handle and defend the same. 
 

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	 	13.	 	TERMINATION OR AMENDMENT OF PLAN. 

 
The Board may terminate or amend the Plan at any time.
However, no termination or amendment of the Plan may adversely affect any then outstanding Option or any unexercised portion thereof, without the consent of the Optionee, unless such termination or amendment is necessary to comply with any
applicable law, regulation or rule. 
 

13 

 
PLAN
HISTORY 
 

	

	 	 	 January 28, 1998
	  	 Board adopts Plan, with an initial share reserve of 200,000 shares.

	
	 	 	 April 21, 1998
	  	 Board ratifies the approval of the final form of the Plan.Open Environment Corporation Amended and Restated 1993 Stock Option Plan

Exhibit 10.17 
 
OPEN ENVIRONMENT CORPORATION 
 
AMENDED AND RESTATED 1993 STOCK OPTION PLAN 
 
February 10, 1995 
 
1.    Purpose.

 
The purpose of this plan ( the “Plan”
) is to secure for Open Environment Corporation (the “Company”) and its shareholders the benefits arising from capital stock ownership by employees, officers and directors of, and consultants or advisors to, the Company and its parent and
subsidiary corporations who are expected to contribute to the Company’s future growth and success. Except where the context otherwise requires, the term “Company” shall include the parent and all present and future subsidiaries of the
Company as defined in Sections 424(e) and 424(f) of the Internal Revenue Code of 1986, as amended or replaced from time to time (the “Code”) .Those provisions of the Plan which make express reference to Section 422 shall apply only to
Incentive Stock Options (as that term is defined in the Plan). 
 
2.    Type of Options and Administration. 
 
(a)    Types of Options.  Options granted pursuant to the Plan may be either incentive stock options
(“Incentive Stock Options”) meeting the requirements of Section 422 of the Code or Non-Statutory Options which are not intended to meet the requirements of Section 422 of the Code (“Non-Statutory Options”) . 
 
(b)    Administration.

 
(i)    The Plan will be
administered by the Board of Directors of the Company, whose construction and interpretation of the terms and provisions of the Plan shall be final and conclusive. The Board of Directors may in its sole discretion grant options to purchase shares of
the Company’s Common Stock (“Common Stock” ) and issue shares upon exercise of such options as provided in the Plan. The Board shall have authority, subject to the express provisions of the Plan, to construe the respective option
agreements and the Plan, to prescribe, amend and rescind rules and regulations relating to the Plan, to determine the terms and provisions of the respective option agreements, which need not be identical, and to make all other determinations which
are, in the judgment of the Board of Directors, necessary or desirable for the administration of the Plan. The Board of Directors may correct any defect, supply any omission or reconcile any inconsistency in the Plan or in any option agreement in
the manner and to the extent it shall deem expedient to carry the Plan into effect and it shall be the sole and final judge of such expediency. No director or person acting pursuant to authority delegated by the Board of Directors shall be liable
for any action or determination under the Plan made in good faith. 
 
(ii)    The Board of Directors may, to the full extent permitted by or consistent with applicable laws or regulations and Section 3(b) of this Plan delegate any or all of its powers under the Plan to a
committee (the “Committee”) appointed by the 

 

1 

Board of Directors, and if the Committee is so appointed all references to the Board of Directors in the Plan shall mean and relate to such
Committee. 
 
(c)    Applicability of Rule 16b-3.  Those provisions of the Plan which make express reference to Rule 16b-3 promulgated under the Securities Exchange Act of 1934 (the “Exchange Act”),
or any successor rule (“Rule 16b-3”), or which are required in order for certain option transactions to qualify for exemption under Rule 16b-3, shall apply only to such persons as are required to file reports under Section 16(a) of
the Exchange Act (a “Reporting Person”). 
 

	3.	 	Eligibility. 

 
(a)    General.  Options may be granted to persons who are, at the time of grant, employees, officers
or directors of, or consultants or advisors to, the Company; provided, that the class of employees to whom Incentive Stock Options may be granted shall be limited to all employees of the Company. A person who has been granted an option may,
if he or she is otherwise eligible, be granted additional options if the Board of Directors shall so determine. Subject to adjustment as provided in Section 15 below, the maximum number of shares with respect to which options may be granted to any
employee under the Plan shall not exceed 700,000 shares of common stock during the ten-year term of the Plan. For the purpose of calculating such maximum number, (a) an option shall continue to be treated as outstanding notwithstanding its
repricing, cancellation or expiration and (b) the repricing of an outstanding option or the issuance of a new option in substitution for a cancelled option shall be deemed to constitute the grant of a new additional option separate from the original
grant of the option that is repriced or cancelled. 
 
(b)    Grant of Options to Directors and Officers.  From and after the registration of the Common Stock of the Company under the Exchange Act, the selection of a director or an officer (as the
terms “director” and “officer” are defined for purposes of Rule 16b-3) as a recipient of an option, the timing of the option grant, the exercise price of the option and the number of shares subject to the option shall be
determined either (i) by the Board of Directors, of which all members shall be “disinterested persons” (as hereinafter defined), or (ii) by two or more directors having full authority to act in the matter, each of whom shall be a
“disinterested person.” For the purposes of the Plan, a director shall be deemed to be a “disinterested person” only if such person qualifies as a “disinterested person” within the meaning of Rule 16b-3, as such term is
interpreted from time to time. 
 

	4.	 	Stock Subject to Plan. 

 
Subject to adjustment as provided in Section 15 below, the maximum number of shares of Common Stock which may be issued and sold under the
Plan is 1,589,000 shares. If an option granted under the Plan shall expire or terminate for any reason without having been exercised in full, the unpurchased shares subject to such option shall again be available for subsequent option grants under
the Plan. If shares issued upon exercise of an option under the Plan are tendered to the Company in payment of 

 

2 

the exercise price of an option granted under the Plan, such tendered shares shall again be available for subsequent option grants under the
Plan; provided, that in no event shall such shares be made available for issuance to Reporting Persons or pursuant to exercise of Incentive Stock Options. 
 

	5.	 	Forms of Option Agreements. 

 
As a condition to the grant of an option under the Plan, each recipient of an option shall execute an option agreement in such form not
inconsistent with the Plan as may be approved by the Board of Directors. Such option agreements may differ among recipients. 
 

	6.	 	Purchase Price. 

 
(a)    General.    Subject to Section 3(b), the purchase price per share of stock
deliverable upon the exercise of an option shall be determined by the Board of Directors, provided, however, that in the case of an Incentive Stock Option, the exercise price shall not be less than 100% of the fair market value of such
stock, as determined by the Board of Directors, at the time of grant of such option, or less than 110% of such fair market value in the case of options described in Section 11(b) . 
 
(b)    Payment of Purchase Price.    Options granted under the
Plan may provide for the payment of the exercise price by delivery of cash or a check to the order of the Company in an amount equal to the exercise price of such options, or, to the extent provided in the applicable option agreement, (i) by
delivery to the Company of shares of Common Stock of the Company already owned by the optionee having a fair market value equal in amount to the exercise price of the options being exercised or (ii) by any other means (including, without limitation,
by delivery of a promissory note of the optionee payable on such terms as are specified by the Board of Directors) which the Board of Directors determines are consistent with the purpose of the Plan and with applicable laws and regulations
(including, without limitation, the provisions of Regulation T promulgated by the Federal Reserve Board). The fair market value of any shares of the Company’s Common Stock or other non-cash consideration which maybe delivered upon exercise of
an option shall be determined by the Board of Directors. 
 

	7.	 	Option Period. 

 
Each option and all rights thereunder shall expire on such date as shall be set forth in the applicable option agreement, except that, in
the case of an Incentive Stock Option, such date shall not be later than ten years after the date on which the option is granted and, in all cases, options shall be subject to earlier termination as provided in the Plan. 
 

	8.	 	Exercise of Options. 

 
Each option granted under the Plan shall be exercisable either in full or in installments at such time or times and during such period as
shall be set forth in the agreement evidencing such option, subject to the provisions of the Plan. 
 

3 

 

	9.	 	Nontransferability of Options. 

 
Options shall not be assignable or transferable by the person to whom they are granted, either voluntarily or by operation of law, except
by will or the laws of descent and distribution, and, during the life of the optionee, shall be exercisable only by the optionee; provided, however, that Non-Statutory Options may be transferred pursuant to a qualified domestic relations order (as
defined in Rule 16b-3). 
 

	10.	 	Effect of Termination of Employment or Other Relationship. 

 
Except as provided in Section 11(d) with respect to Incentive Stock Options, and subject to the provisions of
the Plan, the Board of Directors shall determine the period of time during which an optionee may exercise an option following (i) the termination of the optionee’s employment or other relationship with the Company or (ii) the death or
disability of the optionee. Such periods shall be set forth in the agreement evidencing such option. 
 

	11.	 	Incentive Stock Options. 

 
Options granted under the Plan which are intended to be Incentive Stock Options shall be subject to the following additional terms and
conditions: 
 
(a)    Express Designation.    All Incentive Stock Options granted under the Plan shall, at the time of grant, be specifically designated as such in the option agreement covering such
Incentive Stock Options. 
 
(b)    10% Shareholder.    If any employee to whom an Incentive Stock Option is to be granted under the Plan is, at the time of the grant of such option, the owner of stock
possessing more than 10% of the total combined voting power of all classes of stock of the Company (after taking into account the attribution of stock ownership rules of Section 424(d) of the Code), then the following special provisions shall be
applicable to the Incentive Stock Option granted to such individual: 
 
(i)    The purchase price per share of the Common Stock subject to such Incentive Stock Option shall not be less than 110% of the fair market value of one share of Common Stock at the time of grant; and

 
(ii)    the option exercise
period shall not exceed five years from the date of grant. 
 
(c)    Dollar Limitation.    For so long as the Code shall so provide, options granted to any employee under the Plan (and any other incentive stock option plans of the Company) which
are intended to constitute Incentive Stock Options shall not constitute Incentive Stock Options to the extent that such options, in the aggregate, become exercisable for the first time in any one calendar year for shares of Common Stock with an
aggregate fair market value (determined as of the respective date or dates of grant) of more than $100,000. 
 

4 

 
(d)    Termination of Employment, Death or Disability.    No Incentive Stock Option may be exercised unless, at the time of such exercise, the optionee is, and has been continuously
since the date of grant of his or her option, employed by the Company, except that: 
 
(i)    an Incentive Stock Option may be exercised within the period of three months after the date the optionee ceases to be an employee of the Company (or within such lesser period
as may be specified in the applicable option agreement), provided, that the agreement with respect to such option may designate a longer exercise period and that the exercise after such three-month period shall be treated as the exercise of a
non-statutory option under the Plan; 
 
(ii)    if the optionee dies while in the employ of the Company, or within three months after the optionee ceases to be such an employee, the Incentive Stock Option may be exercised by the person to whom it is
transferred by will or the laws of descent and distribution within the period of one year after the date of death (or within such lesser period as may be specified in the applicable option agreement); and 
 
(iii)    if the optionee becomes disabled
(within the meaning of Section 22(e) (3) of the Code or any successor provision thereto) while in the employ of the Company, the Incentive Stock Option may be exercised within the period of one year after the date the optionee ceases to be such an
employee because of such disability (or within such lesser period as may be specified in the applicable option agreement). 
 
For all purposes of the Plan and any option granted hereunder, “employment” shall be defined in accordance with the provisions of Section
1.421-7(h) of the Income Tax Regulations (or any successor regulations). Notwithstanding the foregoing provisions, no Incentive Stock Option may be exercised after its expiration date. 
 

	12.	 	Additional Provisions. 

 
(a)    Additional Option Provisions.    The Board of Directors may, in its sole discretion,
include additional provisions in option agreements covering options granted under the Plan, including without limitation restrictions on transfer, repurchase rights, commitments to pay cash bonuses, to make, arrange for or guaranty loans or to
transfer other property to optionees upon exercise of options, or such other provisions as shall be determined by the Board of Directors; provided that such additional provisions shall not be inconsistent with any other term or
condition of the Plan and such additional provisions shall not cause any Incentive Stock Option granted under the Plan to fail to qualify as an Incentive Stock Option within the meaning of Section 422 of the Code. 
 
(b)    Acceleration, Extension,
Etc.    The Board of Directors may, in its sole discretion, (i) accelerate the date or dates on which all or any particular option or options granted under the Plan may be exercised or (ii) extend the dates during which all,
or any particular, option or options granted under the Plan may be exercised. 
 

5 

 

	13.	 	General Restrictions. 

 
(a)    Investment Representations.    The Company may require any person to whom an option
is granted, as a condition of exercising such option, to give written assurances in substance and form satisfactory to the Company to the effect that such person is acquiring the Common Stock subject to the option for his or her own account for
investment and not with any present intention of selling or otherwise distributing the same, and to such other effects as the Company deems necessary or appropriate in order to comply with federal and applicable state securities laws, or with
covenants or representations made by the Company in connection with any public offering of its Common Stock. 
 
(b)    Compliance With Securities Laws.    Each option shall be subject to the requirement
that if, at any time, counsel to the Company shall determine that the listing, registration or qualification of the shares subject to such option upon any securities exchange or under any state or federal law, or the consent or approval of any
governmental or regulatory body, or that the disclosure of non-public information or the satisfaction of any other condition is necessary as a condition of, or in connection with, the issuance or purchase of shares thereunder, such option may not be
exercised, in whole or in part, unless such listing, registration, qualification, consent or approval, or satisfaction of such condition shall have been effected or obtained on conditions acceptable to the Board of Directors. Nothing herein shall be
deemed to require the Company to apply for or to obtain such listing, registration or qualification, or to satisfy such condition. 
 

	14.	 	Rights as a Shareholder. 

 
The holder of an option shall have no rights as a shareholder with respect to any shares covered by the option (including, without
limitation, any rights to receive dividends or non-cash distributions with respect to such shares) until the date of issue of a stock certificate to him or her for such shares. No adjustment shall be made for dividends or other rights for which the
record date is prior to the date such stock certificate is issued. 
 

	15.	 	Adjustment Provisions for Recapitalizations and Related Transactions. 

 
(a)    General.    If, through or as a result of any merger,
consolidation, sale of all or substantially all of the assets of the Company, reorganization, recapitalization, reclassification, stock dividend, stock split, reverse stock split or other similar transaction, (i) the outstanding shares of Common
Stock are increased, decreased or exchanged for a different number or kind of shares or other securities of the Company, or (ii) additional shares or new or different shares or other securities of the Company or other non-cash assets are distributed
with respect to such shares of Common Stock or other securities, an appropriate and proportionate adjustment may be made in (x) the maximum number and kind of shares reserved for issuance under the Plan, (y) the number and kind of shares or other
securities subject to any then outstanding options under the Plan, and (z) the price for each share subject to any then outstanding options 

 

6 

under the Plan, without changing the aggregate purchase price as to which such options remain exercisable. Notwithstanding the foregoing, no
adjustment shall be made pursuant to this Section 15 if such adjustment would cause the Plan to fail to comply with Section 422 of the Code. 
 
(b)    Board Authority to Make Adjustments.    Any adjustments under this Section 15 will
be made by the Board of Directors, whose determination as to what adjustments, if any, will be made and the extent thereof will be final, binding and conclusive. No fractional shares will be issued under the Plan on account of any such adjustments.

 

	16.	 	Merger, Consolidation, Asset Sale, Liquidation, etc. 

 
(a)    General.    In the event of a consolidation or merger or sale of all or
substantially all of the assets of the Company in which outstanding shares of Common Stock are exchanged for securities, cash or other property of any other corporation or business entity or in the event of a liquidation of the Company, the Board of
Directors of the Company, or the board of directors of any corporation assuming the obligations of the Company, may, in its discretion, take any one or more of the following actions, as to outstanding options: (i) provide that such options shall be
assumed, or equivalent options shall be substituted, by the acquiring or succeeding corporation (or an affiliate thereof), provided that any such options substituted for Incentive Stock Options shall meet the requirements of Section 424(a) of
the Code, (ii) upon written notice to the optionees, provide that all unexercised options will terminate immediately prior to the consummation of such transaction unless exercised by the optionee within a specified period following the date of such
notice, (iii) in the event of a merger under the terms of which holders of the Common Stock of the Company will receive upon consummation thereof a cash payment for each share surrendered in the merger (the “Merger Price”), make or provide
for a cash payment to the optionees equal to the difference between (A) the Merger Price times the number of shares of Common Stock subject to such outstanding options (to the extent then exercisable at prices not in excess of the Merger Price) and
(B) the aggregate exercise price of all such outstanding options in exchange for the termination of such options, and (iv) provide that all or any outstanding options shall become exercisable in full immediately prior to such event. 
 
(b)    Substitute
Options.    The Company may grant options under the Plan in substitution for options held by employees of another corporation who become employees of the Company, or a subsidiary of the Company, as the result of a merger or
consolidation of the employing corporation with the Company or a subsidiary of the Company, or as a result of the acquisition by the Company, or one of its subsidiaries, of property or stock of the employing corporation. The Company may direct that
substitute options be granted on such terms and conditions as the Board of Directors considers appropriate in the circumstances. 
 

	17.	 	No Special Employment Rights. 

 
Nothing contained in the Plan or in ant option shall confer upon any optionee any 

 

7 

right with respect to the continuation of his or her employment by the Company or interfere in any way with the right of the Company at any
time to terminate such employment or to increase or decrease the compensation of the optionee. 
 

	18.	 	Other Employee Benefits. 

 
Except as to plans which by their terms include such amounts as compensation, the amount of any compensation deemed to be received by an
employee as a result of the exercise of an option or the sale of shares received upon such exercise will not constitute compensation with respect to which any other employee benefits of such employee are determined, including, without limitation,
benefits under any bonus, pension, profit-sharing, life insurance or salary continuation plan, except as otherwise specifically determined by the Board of Directors. 
 

	19.	 	Amendment of the Plan. 

 
(a)    The Board of Directors may at any time, and from time to time, modify or amend the Plan in any respect, except
that if at any time the approval of the shareholders of the Company is required under Section 422 of the Code or any successor provision with respect to Incentive Stock Options, or under Rule 16b-3, the Board of Directors may not effect such
modification or amendment without such approval. 
 
(b)    The termination or any modification or amendment of the Plan shall not, without the consent of an optionee, affect his or her rights under an option previously granted to him or her. With the consent of the
optionee affected, the Board of Directors may amend outstanding option agreements in a manner not inconsistent with the Plan. The Board of Directors shall have the right to amend or modify (i) the terms and provisions of the Plan and of any
outstanding Incentive Stock Options granted under the Plan to the extent necessary to qualify any or all such options for such favorable federal income tax treatment (including deferral of taxation upon exercise) as may be afforded incentive stock
options under Section 422 of the Code and (ii) the terms and provisions of the Plan and of any outstanding option to the extent necessary to ensure the qualification of the Plan under Rule 16b-3. 
 

	20.	 	Withholding. 

 
(a)    The Company shall have the right to deduct from payments of any kind otherwise due to the optionee any federal,
state or local taxes of any kind required by law to be withheld with respect to any shares issued upon exercise of options under the Plan. Subject to the prior approval of the Company, which may be withheld by the Company in its sole discretion, the
optionee may elect to satisfy such obligations, in whole or in part, (i) by causing the Company to withhold shares of Common Stock otherwise issuable pursuant to the exercise of an option or (ii) by delivering to the Company shares of Common Stock
already owned by the optionee. The shares so delivered or withheld shall have a fair market value equal to such withholding obligation. The fair market value of the shares used to satisfy such withholding obligation shall be 

 

8 

determined by the Company as of the date that the amount of tax to be withheld is to be determined. An optionee who has made an election
pursuant to this Section 20(a) may only satisfy his or her withholding obligation with shares of Common Stock which are not subject to any repurchase, forfeiture, unfulfilled vesting or other similar requirements. 
 
(b)    Notwithstanding the foregoing, in
the case of a Reporting Person, no election to use shares for the payment of withholding taxes shall be effective unless made in compliance with any applicable requirements of Rule 16b-3 (unless it is intended that the transaction not qualify for
exemption under Rule 16b-3). 
 

	21.	 	Cancellation and New Grant of Options, Etc. 

 
The Board of Directors shall have the authority to effect, at any time and from time to time, with the consent of the affected optionees,
(i) the cancellation of any or all outstanding options under the Plan and the grant in substitution therefor of new options under the Plan covering the same or different numbers of shares of Common Stock and having an option exercise price per share
which may be lower or higher than the exercise price per share of the cancelled options or (ii) the amendment of the terms of any and all outstanding options under the Plan to provide an option exercise price per share which is higher or lower than
the then-current exercise price per share of such outstanding options. 
 

	22.	 	Effective Date and Duration of the Plan. 

 
(a)    Effective Date.  The Plan shall become effective when adopted by the Board of Directors, but
no option granted under the plan shall become exercisable unless and until the Plan shall have been approved by the Company’s shareholders. If such shareholder approval is not obtained within twelve months after the date of the Board’s
adoption of the Plan, options previously granted under the Plan shall not vest and shall terminate and no options shall be granted thereafter. Amendments to the Plan not requiring shareholder approval shall become effective when adopted by the Board
of Directors; amendments requiring shareholder approval (as provided in Section 19) shall become effective when adopted by the Board of Directors, but no option granted after the date of such amendment shall become exercisable (to the extent that
such amendment to the Plan was required to enable the Company to grant such option to a particular person) unless and until such amendment shall have been approved by the Company’s shareholders. If such shareholder approval is not obtained
within twelve months of the Board’s adoption of such amendment, any options granted on or after the date of such amendment shall terminate to the extent that such amendment was required to enable the Company to grant such option to a particular
optionee. Subject to this limitation, options may be granted under the Plan at any time after the effective date and before the date fixed for termination of the Plan. 
 
(b)    Termination.  Unless sooner terminated in accordance with Section
16, the Plan shall terminate upon the close of business on the day next preceding the tenth anniversary of the date of its adoption by the Board of Directors. Options outstanding on 
 

9 

such date shall continue to have force and effect in accordance with the provisions of the instruments evidencing such options. 
 

	23.	 	Provision for Foreign Participants. 

 
The Board of Directors may, without amending the Plan, modify awards or options granted to participants who are foreign nationals or
employed outside the United States to recognize differences in laws, rules, regulations or customs of such foreign jurisdictions with respect to tax, securities, currency, employee benefit or other matters. 
 
Adopted
by the Board of Directors on 
February 10, 1995. 
 

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