Document:

EXHIBIT 10.50

 

Exhibit 10.50

Form Of

WebMD Health Corp.

Non-Qualified Stock Option Agreement

Employees

	 	 	 	 	 
	 

	 	Optionee:
	 	 
	 

	 	Grant Date:	 	 
	 

	 	Grant Number:	 	 
	 

	 	Shares Granted:	 	 
	 

	 	Stock Option Price:	 	 

We are pleased to inform you that you have been granted an option to purchase that number of
shares of the common stock of WebMD Health Corp. (the “Company”) set forth above at the per share
exercise price set forth above. Your grant has been made under the Company’s 2005 Long-Term
Incentive Plan (as it may be amended from time to time, the “Plan”), which together with
the terms contained in this Agreement, sets forth the terms and conditions of your grant and is
incorporated herein by reference. In the event any terms set forth herein conflict with the terms
as set forth in the Plan, the terms of the Plan shall govern. A copy of the Plan is available on
the Company’s intranet site. Please review it carefully. Capitalized terms used herein without
definition will have the meanings assigned to them in the Plan.

Vesting/Term:

Subject to the terms of the Plan and this Agreement, shares will vest in four equal annual
installments, commencing on the first anniversary of the Grant Date (full vesting on the fourth
anniversary of the Grant Date). Subject to earlier expiration in the event of the termination of
your employment with the Company and its Subsidiaries for any reason (as more fully described
below), this Option will expire on the tenth anniversary of the Grant Date. The date on which this
Option expires pursuant to this Agreement is referred to herein as the “Expiration Date”.

Exercise:

You may exercise this Option, in whole or in part, to purchase a whole number of vested shares
at any time, by following the exercise procedures set up by the Compensation Committee of the
Company’s Board of Directors from time to time in accordance with the Plan. All exercises must
take place before the Expiration Date. The number of shares you may purchase as of any date cannot
exceed the total number of shares vested by that date, less any shares you have previously acquired
by exercising this Option.

Restrictions on Exercise:

This Option may not be exercised if such exercise would violate any provision of applicable
federal or state securities law, or other law, rule or regulation or the Company’s employee trading
policy.

Restrictive Covenants:

In the event that you breach any restrictive covenants to which you are bound (including,
without limitation, those set forth on Annex A ), in addition to any other remedy available to the
Company, the Option, whether or not vested, will immediately terminate without any notice or
consideration being paid therefor. By signing below, you acknowledge the representations and agree
to the covenants set forth on Annex A. The covenants on Annex A do not supercede or replace any
other confidentiality, non-competition or non-solicitation agreement entered into between you and
the Company (or any affiliate thereof) to the extent that such confidentiality, non-competition
and/or non-solicitation agreement is more protective of the business of the Company and/or its
affiliates.

Termination Provisions:

In the event of the termination of your employment with the Company and its Subsidiaries for
any reason (other than as a result of your death or Disability or for Cause), (i) all further
vesting of shares under this Option will stop, and this Option will be cancelled as to any unvested
shares without any consideration being paid therefor and (ii) you will have 90 days to exercise
this Option as to any shares that have vested as of the date of termination. In the event of the
termination of your employment as a result of your death or Disability, this Option shall become
fully vested as of the date of termination and you or your estate will have a period of one year
from the date of termination to exercise. If your employment is terminated for Cause, this Option
will expire immediately as to all vested and unvested shares without any consideration being paid
therefore. IF YOU DO NOT EXERCISE THE VESTED PORTION OF THIS OPTION ON OR BEFORE THE EXPIRATION
DATE, THIS OPTION WILL EXPIRE WITHOUT ANY CONSIDERATION BEING PAID THEREFORE.

 

 

No Rights to Grants or Continued Employment:

You shall not have any claim or right to receive grants of Options under the Plan. Neither the
Plan nor this Agreement nor any action taken or omitted to be taken hereunder or thereunder shall
be deemed to create or confer on you any right to be retained in the employ or service of the
Company or any of its affiliates, or to interfere with or to limit in any way the right of the
Company or any of its affiliates to terminate your employment at any time. You shall have no
rights in the benefits conferred by this Option or in any shares except to the extent the Option is
exercised while vested and exercisable and otherwise in accordance with the terms of this
Agreement. Termination of the Option by reason of cessation of employment shall not give rise to
any claim for damages by you under this Agreement and shall be without prejudice to any rights or
remedies which the Company or any of its affiliates may have against you.

Taxes and Withholding:

This Option is not intended to be an Incentive Stock Option, as defined under Section 422(b) of
the Internal Revenue Code of 1986, as amended (the “Code”). Any exercise of this Option is
generally a taxable event, and if the Company determines that any federal, state, local or foreign
tax or withholding payment is required relating to the exercise or sale of shares arising from this
grant, the Company shall have the right to require such payments from you, or withhold such amounts
from other payments due to you from the Company.

Section 409A of the Code, which was adopted pursuant to the American Jobs Creation Act of 2004,
imposes new rules relating to the taxation of deferred compensation. This Option is intended to be
exempt from the application of Section 409A of the Code and the rules, regulations and guidance
promulgated thereunder (collectively “Section 409A”). We anticipate that the Treasury
Department will issue further guidance under Section 409A. The Company reserves the right to
modify the terms of this Option, to the extent necessary or advisable to comply with Section 409A.

Set-off:

If at any time you are indebted to the Company or any affiliate, the Company may in its
discretion (a) withhold (i) shares issuable to you following your exercise of the Option (or
portion thereof) having a fair market value on the date of exercise up to the amount of such
indebtedness or (ii) amounts due to you in connection with the sale of the shares acquired as a
result of the exercise of this Option (or portion thereof) up to the amount of such indebtedness or
(b) take any substantially similar action.

Governing Law:

This Option shall be governed by, and interpreted and enforced in accordance with, the laws of
the State of Delaware, without regard to the conflicts of law provisions thereof.

	 	 	 	 	 	 	 	 	 
	WEBMD HEALTH CORP.	 	 	 	Agreed and Accepted:
	 
	 	 	 	 	 	 	 	 
	By:

	 	 	 	 	 	Optionee:	 	 
	 

	 	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Title:

	 	 	 	 	 	Print Name:	 	 
	 

	 	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Address:	 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 

2

 

(ANNEX A TO WEBMD HEALTH CORP.

NON-QUALIFIED STOCK OPTION AGREEMENT)

TRADE SECRET AND PROPRIETARY INFORMATION COVENANTS

1. Confidentiality.

     (a) Trade Secret and Proprietary Information. I understand and acknowledge that,
during the course of my employment with the Company and its Affiliates and as a result of my having
executed this Non-Qualified Stock Option Agreement, I will be granted access to valuable
information relating to the business of the Company and its Affiliates that provides the Company
and its Affiliates with a competitive advantage (or that could be used to the disadvantage of the
Company and its Affiliates by a Competitive Business (as defined herein), which is not generally
known by, nor easily learned or determined by, persons outside the Company and its Affiliates
(collectively “Trade Secret and Proprietary Information”). The term Trade Secret and Proprietary
Information shall include, but shall not be limited to: (a) specifications, manuals, software in
various stages of development; (b) customer and prospect lists, and details of agreements and
communications with customers and prospects; (c) sales plans and projections, product pricing
information, acquisition, expansion, marketing, financial and other business information and
existing and future products and business plans of the Company and its Affiliates; (d) sales
proposals, demonstrations systems, sales material; (e) research and development; (f) computer
programs; (g) sources of supply; (h) identity of specialized consultants and contractors and Trade
Secret and Proprietary Information developed by them for the Company and its Affiliates; (i)
purchasing, operating and other cost data; (j) special customer needs, cost and pricing data; and
(k) employee information (including, but not limited to, personnel, payroll, compensation and
benefit data and plans), including all such information recorded in manuals, memoranda,
projections, reports, minutes, plans, drawings, sketches, designs, formula books, data,
specifications, software programs and records, whether or not legended or otherwise identified by
the Company and its Affiliates as Trade Secret and Proprietary Information, as well as such
information that is the subject of meetings and discussions and not recorded. Trade Secret and
Proprietary Information shall not include such information that I can demonstrate (i) is generally
available to the public (other than as a result of a disclosure by me), (ii) was disclosed to me by
a third party under no obligation to keep such information confidential or (iii) was known by me
prior to, and not as a result of, my employment or anticipated employment with the Company or its
Affiliates.

     (b) Duty of Confidentiality. I agree at all times, both during and after my
employment with the Company and its Affiliates, to hold all of the Trade Secret and Proprietary
Information in a fiduciary capacity for the benefit of the Company and its Affiliates and to
safeguard all such Trade Secret and Proprietary Information. I also agree that I will not directly
or indirectly disclose or use any such Trade Secret and Proprietary Information to any third
person or entity outside the Company and its Affiliates, except as may be necessary in the good
faith performance of my duties for the Company and its Affiliates. I further agree that, in
addition to enforcing this restriction, the Company and its Affiliates may have other rights and
remedies under the common law or applicable statutory laws relating to the protection of trade
secrets. Notwithstanding anything in this Agreement to the contrary, I understand that I may
disclose the Trade Secret and Proprietary Information to the extent required by applicable laws or
governmental regulations or judicial or regulatory process, provided that I give the Company prompt
notice of any and all such requests for disclosure so that it has ample opportunity to take all
necessary or desired action, to avoid disclosure.

     (c) Company Property. I acknowledge that: (i) all Trade Secret and Proprietary
Information of the Company, (ii) computers, and computer-related hardware and software, cell
phones, beepers and any other equipment provided to me by the Company, and (iii) all documents I
create or receive in connection with my employment with the Company, belong to the Company, and not
to me personally (collectively, “Company Property”). Such documents include, without limitation
and by way of non-exhaustive example only: papers, files, memoranda, notes, correspondence, lists,
e-mails, reports, records, data, research, proposals, specifications, models, flow charts,
schematics, tapes, printouts, designs, graphics, drawings, photographs, abstracts, summaries,
charts, graphs, notebooks, investor lists, customer/client lists, and all other compilations of
information, regardless of how such information may be recorded and whether in printed form or on a
computer or magnetic disk or in any other medium. I agree to return all Company Property
(including all copies) to the Company immediately upon any termination of my employment, and
further agree that, during and after my employment with the Company, I will not, under any
circumstances, without the Company’s specific written authorization in each instance, directly or
indirectly disclose Company Property or any information contained in Company Property to anyone
outside the Company, or otherwise use Company Property for any purpose other than the advancement
of the Company’s interests.

     (d) Unfair Competition. I acknowledge that the Company has a compelling business
interest in preventing unfair competition stemming from the intentional or inadvertent use or
disclosure of the Company’s Trade Secret and Proprietary Information and Company Property.

 

 

     (e) Investors, Other Third-Parties, and Goodwill. I acknowledge that all
Third-Parties I service or propose to service while employed by the Company are doing business with
the Company and not me personally, and that, in the course of dealing with such Third-Parties, the
Company establishes goodwill with respect to each such Third-Party that is created and maintained
at the Company’s expense (“Third-Party Goodwill”). I also acknowledge that, by virtue of my
employment with the Company, I have gained or will gain knowledge of the business needs of, and
other information concerning, Third-Parties, and that I would inevitably have to draw on such
information were I to solicit or service any of the Third-Parties on my own behalf or on behalf of
a Competitive Business (as defined herein).

     (f) Intellectual Property and Inventions. I acknowledge that all developments,
including, without limitation, the creation of new products, conferences, training/seminars,
publications, programs, methods of organizing information, inventions, discoveries, concepts,
ideas, improvements, patents, trademarks, trade names, copyrights, trade secrets, designs, works,
reports, computer software, flow charts, diagrams, procedures, data, documentation, and writings
and applications thereof relating to the past, present, or future business of the Company that I,
alone or jointly with others, may have discovered, conceived, created, made, developed, reduced to
practice, or acquired during my employment with the Company (collectively, “Developments”) are
works made for hire and shall remain the sole and exclusive property of the Company, and I hereby
assign to the Company all of my rights, titles, and interest in and to all such Developments, if
any. I agree to disclose to the Company promptly and fully all future Developments and, at any
time upon request and at the expense of the Company, to execute, acknowledge, and deliver to the
Company all instruments that the Company shall prepare, to give evidence, and to take any and all
other actions that are necessary or desirable in the reasonable opinion of the Company to enable
the Company to file and prosecute applications for, and to acquire, maintain, and enforce, all
letters patent, trademark registrations, or copyrights covering the Developments in all countries
in which the same are deemed necessary by the Company. All data, memoranda, notes, lists,
drawings, records, files, investor and client/customer lists, supplier lists, and other
documentation (and all copies thereof) made or compiled by me or made available to me concerning
the Developments or otherwise concerning the past, present, or planned business of the Company are
the property of the Company, and will be delivered to the Company immediately upon the termination
of my employment with the Company.

2. Covenant Not to Compete with the Company.

     (a) I acknowledge that the business of the Company is national in scope, that its products and
services are marketed throughout the entire United States, that the Company competes in nearly all
of its business activities with other individuals or entities that are, or could be, located in
nearly any part of the United States and that the nature of my services, position, and expertise
are such that I am capable of competing with the Company from nearly any location in the United
States.

     (b) Accordingly, in order to protect the Company’s Trade Secret and Proprietary Information
and Third-Party Goodwill, I acknowledge and agree that during the term of my employment with the
Company and for a period of one year after the date my employment with the Company is
terminated for any reason (the “Restricted Period”), I will not, without the Company’s express
written permission, directly or indirectly (including through the Internet), own, control, manage,
operate, participate in, be employed by, or act for or on behalf of, any “Competitive Business”
(as defined herein) located anywhere within the geographic boundaries of the United States.

     For purposes of this Agreement “Competitive Business” will mean: (i) any enterprise engaged
in developing, selling or providing a consumer or physician Internet healthcare portal or
interactive online personal health management products; and (ii) any enterprise engaged in any
other type of business in which the Company or one of its Affiliates is also engaged, or plans to
be engaged, so long as I am directly involved in such business or planned business on behalf of the
Company or one of its Affiliates.

3. Non-Solicitation of Employees, Customers. In order to protect the Company’s Trade
Secret and Proprietary Information and Third-Party Goodwill, during the Restricted Period, I will
not, without the Company’s express written permission, directly or indirectly:

     (a) solicit, induce, hire, engage, or attempt to hire or engage any employee or independent
contractor of the Company, or in any other way interfere with the Company’s employment or
contractual relations with any of its employees or independent contractors, nor will I solicit,
induce, hire, engage or attempt to hire or engage any individual who was an employee of the Company
at any time during the one (1) year period immediately prior to the termination of my employment
with the Company;

     (b) contact, call upon or solicit, on behalf of a Competitive Business, any existing or
prospective client, or customer of the Company who I serviced, or otherwise developed a
relationship with, as a result of my employment with the Company, nor will I attempt to divert or
take away from the Company the business of any such client or customer;

4. Injunctive Remedies. I acknowledge and agree that the restrictions contained in this
Agreement are reasonably

 

 

necessary to protect the legitimate business interests of the Company, and that any violation of
any of the restrictions will result in immediate and irreparable injury to the Company for which
monetary damages will not be an adequate remedy. I further acknowledge and agree that if any such
restriction is violated, the Company will be entitled to immediate relief enjoining such violation
(including, without limitation, temporary and permanent injunctions, a decree for specific
performance, and an equitable accounting of earnings, profits, and other benefits arising from such
violation) in any court having jurisdiction over such claim, without the necessity of showing any
actual damage or posting any bond or furnishing any other security, and that the specific
enforcement of the provisions of this Agreement will not diminish my ability to earn a livelihood
or create or impose upon me any undue hardship. I also agree that any request for such relief by
the Company shall be in addition to, and without prejudice to, any claim for monetary damages that
the Company may elect to assert.

5. Severability Provision. I acknowledge and agree that the restrictions imposed upon me
by the terms, conditions, and provisions of this Agreement are fair, reasonable, and reasonably
required for the protection of the Company. In the event that any part of this Agreement is deemed
invalid, illegal, or unenforceable, all other terms, conditions, and provisions of this Agreement
shall nevertheless remain in full force and effect. In the event that the provisions of any of
Sections 1, 2, or 3 of this Agreement relating to the geographic area of restriction, the length of
restriction or the scope of restriction shall be deemed to exceed the maximum area, length or scope
that a court of competent jurisdiction would deem enforceable, said area, length or scope shall,
for purposes of this Agreement, be deemed to be the maximum area, length of time or scope that such
court would deem valid and enforceable, and that such court has the authority under this Agreement
to rewrite (or “blue-pencil”) the restriction(s) at-issue to achieve this intent.

6. Non-Waiver. Any waiver by the Company of my breach of any term, condition, or provision
of this Agreement shall not operate or be construed as a waiver of the Company’s rights upon any
subsequent breach.

7. Waiver of Jury Trial. TO THE MAXIMUM EXTENT PERMITTED BY LAW, I HEREBY KNOWINGLY,
VOLUNTARILY, AND INTENTIONALLY WAIVE THE RIGHT TO A TRIAL BY JURY IN CONNECTION WITH ANY LITIGATION
ARISING OUT OF, UNDER, IN CONNECTION WITH, OR IN ANY WAY RELATED TO THIS AGREEMENT. THIS INCLUDES,
WITHOUT LIMITATION, ANY LITIGATION CONCERNING ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENT
(WHETHER VERBAL OR WRITTEN), OR ACTION OF THE COMPANY OR ME, OR ANY EXERCISE BY THE COMPANY OR ME
OF OUR RESPECTIVE RIGHTS UNDER THIS AGREEMENT OR IN ANY WAY RELATING TO THIS AGREEMENT. I FURTHER
ACKNOWLEDGE THAT THIS WAIVER IS A MATERIAL INDUCEMENT FOR THE COMPANY TO ISSUE AND ACCEPT THIS
AGREEMENT.EXHIBIT 10.51

 

Exhibit 10.51

Form Of

WebMD Health Corp.

Non-Qualified Stock Option Agreement

Non-Employee Directors

	 	 	 
	 

	 	Optionee:
	 

	 	Grant Date:
	 

	 	Grant Number:
	 

	 	Shares Granted:
	 

	 	Stock Option Price:

We are pleased to inform you that you have been granted an option to purchase that number of
shares of the common stock of WebMD Health Corp. (the “Company”) at the per share exercise price
set forth above. Your grant has been made under the Company’s 2005 Long-Term Incentive Plan (as it
may be amended from time to time, the “Plan”), which together with the terms contained in
this Agreement, sets forth the terms and conditions of your grant and is incorporated herein by
reference. In the event any terms set forth herein conflict with the terms as set forth in the
Plan, the terms of the Plan shall govern. A copy of the Plan is available on the Company’s
intranet site. Please review it carefully. Capitalized terms used herein without definition will
have the meanings assigned to them in the Plan.

Vesting/Term:

Subject to the terms of the Plan and this Agreement, shares will vest in four equal annual
installments, commencing on the first anniversary of the Grant Date (full vesting on the fourth
anniversary of the Grant Date). Subject to earlier expiration in the event of the termination of
your service with the Company for any reason (as more fully described below), this Option will
expire on the tenth anniversary of the Grant Date. The date on which this Option expires pursuant
to this Agreement is referred to herein as the “Expiration Date”.

Exercise:

You may exercise this Option, in whole or in part, to purchase a whole number of vested shares
at any time, by following the exercise procedures set up by the Compensation Committee of the
Company’s Board of Directors from time to time in accordance with the Plan. All exercises must
take place before the Expiration Date. The number of shares you may purchase as of any date cannot
exceed the total number of shares vested by that date, less any shares you have previously acquired
by exercising this Option.

Restrictions on Exercise:

This Option may not be exercised if such exercise would violate any provision of applicable
federal or state securities law, or other law, rule or regulation or the applicable Company’s
trading policy.

Termination Provisions:

In the event of the termination of your service with the Company and its Subsidiaries for any
reason (other than as a result of your death or Disability or for Cause), (i) all further vesting
of shares under this Option will stop, and this Option will be cancelled as to any unvested shares
without any consideration being paid therefor and (ii) you will have 90 days to exercise this
Option as to any shares that have vested as of the date of termination. In the event of the
termination of your service as a result of your death or Disability, this Option shall become fully
vested as of the date of termination and you or your estate will have a period of one year from the
date of termination to exercise. If your service is terminated for Cause, this Option will expire
immediately as to all vested and unvested shares without any consideration being paid therefore.
IF YOU DO NOT EXERCISE THE VESTED PORTION OF THIS OPTION ON OR BEFORE THE EXPIRATION DATE, THIS
OPTION WILL EXPIRE WITHOUT ANY CONSIDERATION BEING PAID THEREFORE.

No Rights to Grants or Continued Service:

You shall not have any claim or right to receive grants of Options under the Plan. Neither the
Plan nor this Agreement nor any action taken or omitted to be taken hereunder or thereunder shall
be deemed to create or confer on you any right to be retained in the employ or service of the
Company or any of its affiliates, or to interfere with or to limit in any way the right of the
Company or any of its affiliates to terminate your service in accordance with the Company’s bylaws
and applicable laws, rules and regulations. You shall have no rights in the benefits conferred by
this Option or in any shares except to the extent the Option is exercised while vested and
exercisable and otherwise in accordance with the terms of this Agreement. Termination of the
Option by reason of cessation of service shall not give rise to any claim for damages by you under
this Agreement and shall be without prejudice to any rights or remedies which the Company or any of
its affiliates may have against you.

 

 

Taxes and Withholding:

This Option is not intended to be an Incentive Stock Option, as defined under Section 422(b) of
the Internal Revenue Code of 1986, as amended (the “Code”). Any exercise of this Option is
generally a taxable event, and if the Company determines that any federal, state, local or foreign
tax or withholding payment is required relating to the exercise or sale of shares arising from this
grant, the Company shall have the right to require such payments from you, or withhold such amounts
from other payments due to you from the Company.

Section 409A of the Code, which was adopted pursuant to the American Jobs Creation Act of 2004,
imposes new rules relating to the taxation of deferred compensation. This Option is intended to be
exempt from the application of Section 409A of the Code and the rules, regulations and guidance
promulgated thereunder (collectively “Section 409A”). We anticipate that the Treasury
Department will issue further guidance under Section 409A. The Company reserves the right to
modify the terms of this Option, to the extent necessary or advisable to comply with Section 409A.

Set-off:

If at any time you are indebted to the Company or any affiliate, the Company may in its
discretion (a) withhold (i) shares issuable to you following your exercise of the Option (or
portion thereof) having a fair market value on the date of exercise up to the amount of such
indebtedness or (ii) amounts due to you in connection with the sale of the shares acquired as a
result of the exercise of this Option (or portion thereof) up to the amount of such indebtedness or
(b) take any substantially similar action.

Governing Law:

This Option shall be governed by, and interpreted and enforced in accordance with, the laws of
the State of Delaware, without regard to the conflicts of law provisions thereof.

	 	 	 	 	 	 	 	 	 
	WEBMD HEALTH CORP.	 	 	 	Agreed and Accepted:
	 
	 	 	 	 	 	 	 	 
	By:

	 	 	 	 	 	Optionee:	 	 
	 

	 	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Title:

	 	 	 	 	 	Print Name:	 	 
	 

	 	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Address:

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