Document:

exv4w1

 

Exhibit 4.1

      

PROGRESS

SOFTWARE

SHARES

 

SEE REVERSE FOR
CERTAIN DEFINITIONS

PS

 

PROGRESS SOFTWARE CORPORATION

INCORPORATED UNDER THE LAWS OF THE COMMONWEALTH OF MASSACHUSETTS

COMMON STOCK, $.01 PAR VALUE

			
	THIS IS TO CERTIFY THAT
	 	CUSIP 743312 10 0

IS THE OWNER OF

     FULLY-PAID AND NON-ASSESSABLE SHARES OF COMMON STOCK OF THE PAR VALUE OF ONE CENT ($.01) EACH OF

                                                                PROGRESS SOFTWARE CORPORATION                                                                

(Hereinafter called the Corporation), transferable on the books on the Corporation by the holder in person or by duly
authorized attorney upon surrender of this certificate properly endorsed.

This certificate is not valid unless countersigned by the Transfer Agent and registered by the Registrar.

WITNESS the facsimile seal of the Corporation and the facsimile signatures of its duly authorized officers.

Dated:

PROGRESS SOFTWARE CORPORATION

	 	 	 	 	 	 	 
	/s/ Norman R. Robertson

	 	INCORPORATED
	 	/s/ Joseph W. Alsop
	TREASURER

	 	 	1981	 	 	   PRESIDENT
	 

	 	MASSACHUSETTS
	 	 

 

 

THE CORPORATION IS AUTHORIZED TO ISSUE MORE THAN ONE CLASS AND SERIES OF
STOCK. THE CORPORATION WILL FURNISH TO THE HOLDER UPON WRITTEN REQUEST AND
WITHOUT CHARGE THE PREFERENCES, POWERS, QUALIFICATIONS AND RIGHTS OF EACH CLASS
OF STOCK OR SERIES THEREOF.

     The following abbreviations, when used in the inscription on the face of this certificate,
shall be construed as though they were written out in full according to applicable laws or
regulations:

	 	 	 	 	 
	TEN COM—as tenants in common	 	UNIF GIFT MIN ACT—           Custodian           
	TEN ENT —as tenants by the entireties
	 	 	 	(Cust)                              (Minor)
	JT TEN
—   as joint tenants with right of
	 	 	 	under Uniform Gifts to Minors
	   survivorship and not as tenants in common
	 	 	 	Act
	 
	 	 	 	               (State)

Additional abbreviations may also be used though not in the above list.

For value received,                                          hereby sell, assign and transfer unto

PLEASE INSERT SOCIAL SECURITY OR OTHER

IDENTIFYING NUMBER OF ASSIGNEE

 

 

(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE)

 

 

                                                       
                                                                               
                                                       
  shares of the capital stock represented by the within Certificate,
and do hereby irrevocably constitute and appoint

                                                       
                                                                               
                                                 
  Attorney to transfer the said stock on the books of the within named
Corporation with full power of substitution in the premises.

Dated                                                             

			
	NOTICE:	 	 

THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE
NAME AS WRITTEN UPON THE FACE OF THE CERTIFICATE IN EVERY PARTICULAR,
WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATEVER.

			
	SIGNATURE(S) GUARANTEED:	 	 
 

THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR
INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND
CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE
MEDALLION PROGRAM), PURSUANT TO S.E.C. RULE 17Ad-15.Exhibit
10.14

G-III APPAREL GROUP, LTD.
1999 STOCK OPTION
PLAN FOR NON-EMPLOYEE DIRECTORS

(As amended through
April 20, 2006)

1.    PURPOSE.    The purpose of the 1999
Stock Option Plan for Non-Employee Directors (the
‘‘Plan’’) is to enable G-III Apparel Group,
Ltd., a Delaware corporation (the ‘‘Company’’),
to provide compensatory stock options to members of its Board of
Directors (the ‘‘Board’’) who are not employees
of, or consultants to, the Company or its affiliates
(‘‘Non-Employee Directors’’).

2.    STOCK SUBJECT TO THE PLAN.    The Company may sell a
total of 225,000 shares of its common stock, $.01 par value (the
‘‘Common Stock’’), pursuant to the Plan. Such
shares may be either authorized and unissued or held by the Company in
its treasury. Shares of Common Stock covered by the unexercised portion
of an option which terminates or expires by its terms, by cancellation
or otherwise, will remain issuable under the Plan.

3.    ADMINISTRATION.    Subject to the provisions of the Plan
and applicable law, the Board, acting in its sole and absolute
discretion, will have full power and authority to interpret, apply and
administer the Plan. The decision of the Board as to any disputed
question arising in connection with the Plan or any option granted
under the Plan will be final and conclusive on all persons.

4.    OPTION GRANTS.    An option to purchase 255 shares of
Common Stock will be granted on the date the Plan is adopted by the
Board to each Non-Employee Director who is then serving as such,
subject to approval of the Plan by the Company’s stockholders.
An option to purchase at least 1,500 shares of Common Stock will be
granted to each Non-Employee Director on the day following the date of
each annual meeting of the Company’s stockholders held after the
date the Plan is adopted by the Board and during the term of the Plan.
The Board, acting in its discretion, may make a one-time grant of an
option to purchase up to 10,000 shares of Common Stock to an individual
who first becomes a Non-Employee Director after the date the Plan is
adopted and approved by the Company’s stockholders and the
Board, acting in its discretion, may increase the number of shares
covered by any annual option grant to as many as 3,000 shares.

5.    TERMS AND CONDITIONS OF OPTIONS.    Each option granted
under the Plan will be evidenced by a written agreement or certificate
containing such terms and conditions as the Board may prescribe,
subject to the provisions of the Plan.

(a)    Exercise
Price.    The exercise price per share of Common Stock covered by an
option granted under the Plan will be equal to the fair market value of
a share of Common Stock on the date the option is granted. For purposes
of the Plan, the fair market value of a share of Common Stock on any
date will be the closing sale price per share as published by a
national securities exchange on which shares of Common Stock are traded
on such date or, if there is no sale of Common Stock on such date, the
average of the bid and asked prices on such exchange at the close of
trading on such date or, if shares of Common Stock are not listed on a
national securities exchange on such date, the average of the bid and
asked prices in the over the counter market at the close of trading on
such date.

(b)    Option Period Expiration.    Unless
sooner terminated or exercised, any option granted under the Plan will
expire no more than ten years after the date the option is granted.

(c)    Exercisability of Options.    Unless otherwise
specified by the Board at or after the time an option is granted, and
unless sooner terminated, an option will become exercisable in
accordance with the following schedule based upon the number of full
years of the optionee’s continuous service with the Company
following the date of grant:

											
	Full
Years of Continuous Service		Incremental
Percentage
of
Option
Exercisable		Cumulative
Percentage
of
Option
Exercisable
	Less than 1		 	0	% 		 	0	% 
	1		 	20	% 		 	20	% 
	2		 	20	% 		 	40	% 
	3		 	20	% 		 	60	% 
	4		 	20	% 		 	80	% 
	5 or more		 	20	% 		 	100	% 
	

(d)    Exercise of
Options.    All or part of the exercisable portion of an option may
be exercised at any time during the term of the option, subject to such
minimum exercise conditions as the Board may prescribe. An option may
be exercised by transmitting to the Company (1) a written notice
specifying the number of shares to be purchased, and (2) payment in
full of the purchase price together with the amount, if any, deemed
necessary by the Company to satisfy its income tax withholding
obligation attributable to such exercise (unless other arrangements
acceptable to the Company are made for the satisfaction of such
withholding obligations).

(e)    Payment of Exercise
Price.    The purchase price of Common Stock acquired under the Plan
will be payable in cash and/or such other form of payment as may be
permitted by the Board, including, without limitation, shares of Common
Stock which have been owned by the optionee for at least six months.
The Board may permit the payment of all or a portion of the purchase
price in installments (together with interest) over a period of not
more than five years. If the purchase price is paid with
previously-owned shares, then, for the purpose of applying the 225,000
share limit of Section 2, the number of shares sold will be equal to
the net increase in the number of shares owned by the optionee as a
result of the stock-for-stock exercise.

(f)    Buy Out and
Settlement.    At any time, and from time to time, the Company may
offer to purchase an outstanding option on such terms and conditions as
the Board deems appropriate.

(g)    Rights as a
Stockholder.    No shares of Common Stock will be issued in respect
of the exercise of an option granted under the Plan until full payment
therefor has been made. The holder of an option will have no rights as
a stockholder with respect to shares covered by an option until the
date a stock certificate for such shares is issued to him or her.
Except as otherwise provided herein, no adjustments will be made for
dividends or distributions of other rights for which the record date is
prior to the date such stock certificate is issued.

(h)    Transferability of Options.    Options granted under
the Plan may not be assigned or transferred other than upon the
optionee’s death to a beneficiary designated by the optionee in
a manner acceptable to the Board or, if no designated beneficiary
survives the optionee, pursuant to the optionee’s will or by the
laws of descent and distribution. Any such option will be exercisable
during the optionee’s lifetime only by the optionee.
Notwithstanding the foregoing, the Board, acting in its discretion, may
permit and prescribe conditions for an inter vivos transfer of an
option granted under the Plan.

(i)    Termination of
Service.    Unless otherwise determined by the Board either when an
option is granted or, if no rights of the optionee are thereby reduced,
at any time thereafter, and subject to earlier termination in
accordance with the provisions hereof, the following rules apply with
regard to exercise of vested options held by an optionee at the
termination of the optionee’s service with the Company. If an
optionee ceases to perform services for the Company for any reason
other than death or disability, then each outstanding vested option
granted to him or her under the Plan will terminate on the date three
months after the date of such termination of service but in no event
after the expiration of the stated term of the option. If an
optionee’s service terminates by reason of the optionee’s
death or disability (or if the optionee’s service terminates by
reason of disability and the optionee dies within one year after such
termination of service), then any then outstanding vested option held
by the optionee will expire on the first anniversary of the date of
such termination of service (or one year after the later death of a
disabled optionee) but in no event after the expiration of the stated
term of the option.

(j)    Changes in Capital Stock.    In
the case of any stock split, stock dividend or similar transaction
which increases or decreases the number of outstanding shares of Common
Stock, the Board will make 

an appropriate adjustment to: (i) the
aggregate number of shares of Common Stock that may be sold under the
Plan; (ii) the number of shares of Common Stock covered by option
grants under the Plan (other than the number of shares of Common Stock
covered by any one-time option grant that the Board, in its discretion,
may make to an individual who first becomes a Non-Employee Director);
and (iii) the number of shares of Common Stock and the exercise price
per share covered by any outstanding options. In the case of a merger,
sale of assets or similar transaction which results in a replacement of
the Company’s shares of Common Stock with stock or other
securities of another company, the Board may make arrangements to
replace any outstanding options with comparable options to purchase the
stock or securities of such other company. In the absence of an
arrangement for the replacement options, each outstanding option will
become exercisable in full and any such option which is not exercised
within the time period specified by the Board will thereupon
terminate.

(k)    Other Provisions.    The Board may
impose such other conditions with respect to the exercise of options,
including, without limitation, any conditions relating to the
application of federal or state securities laws, as it may deem
necessary or advisable.

6.    AMENDMENT AND TERMINATION OF
THE PLAN.    The Board may amend or terminate the Plan. Except as
otherwise provided in the Plan with respect to equity changes, any
amendment which would increase the aggregate number of shares of Common
Stock as to which options may be granted under the Plan shall be
subject to the approval of the stockholders of the Company. No
amendment or termination may adversely affect any outstanding option
without the written consent of the optionee.

7.    NO RIGHTS
CONFERRED.    Nothing contained herein will be deemed to give any
individual a right to receive a discretionary award under the Plan or
interfere with the right of the Company to terminate his or her service
with the Company, as a director or otherwise.

8.    GOVERNING
LAW. The Plan and each option granted hereunder will be governed by the
internal laws of the State of Delaware.

9.    TERM OF THE
PLAN.    The Plan is effective on the date of its adoption by the
Board, subject to approval by the Company’s stockholders at
their next annual meeting, and, unless sooner terminated, the Plan will
terminate on the tenth anniversary of the effective date. Options
outstanding when the Plan terminates will not be affected solely by
reason of the termination, provided, however, that the grant of an
option under the Plan before the Plan is approved by the
Company’s stockholders will be subject to such
approval.

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