Document:

Stock Option Agreement

 Exhibit 10.53 
 BLUE COAT SYSTEMS, INC. 
 PACKETEER,
INC. 
 1999 STOCK INCENTIVE PLAN 
 (AS ASSUMED BY BLUE COAT SYSTEMS, INC.
ON JUNE 6, 2008) 
 STOCK OPTION AGREEMENT

 (U.S. EMPLOYEES) 
  

			
		
	Grant of Option	  	You have been granted an option to purchase up to the number of Common Shares of Blue Coat Systems, Inc. (the “Company”) specified in the Notice of Stock Option Grant (“Option
Shares”), effective on the Date of Grant set forth in such Notice of Stock Option Grant. Terms not defined in this Stock Option Agreement shall have the meaning set forth in the Packeteer, Inc. 1999 Stock Incentive Plan, Amended and Restated as
of December 12, 2007 (the “Plan”) incorporated herein by reference.
		
	Tax Treatment	  	This option is intended to be a nonstatutory option (or NSO), as provided in the Notice of Stock Option Grant. You are responsible for any taxes owed by you in connection with this option.

		
	Vesting	  	This option becomes exercisable in installments, as shown in the Notice of Stock Option Grant. No additional shares become exercisable after your service as an Employee or consultant of the
Company or a parent, subsidiary or affiliate of the Company (“Service”) has terminated for any reason.
		
	Term	  	This option expires in any event on the 10th anniversary of the Date of Grant, as shown in
the Notice of Stock Option Grant. (It will expire earlier if your Service terminates, as described below.) If the expiration date of your option is not a business day and you wish to exercise your option by the expiration date, it is your
responsibility to ensure that you have validly exercised your option prior to the expiration date. This option may also be subject to earlier termination upon a Corporate Transaction or other corporate events, as described in the
Plan.

			
		
	Regular Termination	  	If your Service terminates for any reason except death, Permanent Disability or Misconduct, then this option will expire on the date 3 months after your termination date. The Company
determines when your Service terminates for this purpose.
		
	Permanent Disability	  	If your Service terminates because of your Permanent Disability, as defined in the Plan, then this option will expire on the date 12 months after your termination date. The Company determines
when your Service terminates for this purpose.
		
	Death	  	If you die while in Service, the option will expire on the date 12 months after the date of death.
		
	Misconduct	  	If your Service terminates for Misconduct, then this option will terminate immediately and cease to be outstanding.
		
	Corporate Transactions	  	In the event of a Corporate Transaction, then the vesting of this option will not automatically accelerate unless this option is, in connection with the Corporate Transaction, not to be
assumed by the successor corporation (or its parent) or to be replaced with a comparable option for shares of the capital stock of the successor corporation (or its parent). The determination of option comparability will be made by the Primary
Committee, and its determination will be final, binding and conclusive.
		
	Involuntary Termination After a Corporate Transaction	  	If in connection with a Corporate Transaction the option is assumed by the successor corporation (or its parent) and you experience an Involuntary Termination within eighteen months following
such Corporate Transaction, the vesting of this option will automatically accelerate so that this option will, immediately before the effective date of the Involuntary Termination, become fully exercisable for all of the Common Shares at the time
subject to this option and may be exercised for any or all of those shares as fully-vested Common Shares.
		
		  	Involuntary Termination shall have the meaning set forth in the Plan.
		
	Restrictions on Exercise	  	The obligation of the Company to issue Common Shares under the Plan shall be subject to all applicable laws, rules and regulations and such approval by any regulatory body as may be required.
The Company reserves the right to restrict, in whole or in part, the delivery of Common Shares pursuant to your option prior to the satisfaction of all legal requirements relating to the issuance of such Common Shares, to their registration,
qualification or listing or to an exemption from registration, qualification or listing.

  

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	Notice of Exercise	  	 When you wish to exercise this option, you must do so in the form and manner as specified by the Company at that time. The exercise will be
effective only upon delivery of any form of notice then required, together with payment of the exercise price as described below.
  
 If someone else wants to exercise this option after your death, that person must prove to the Company’s satisfaction that he or she is entitled to do
so.

		
	Form of Payment	  	When you submit your notice of exercise, you must include payment of the option exercise price for the shares you are purchasing. To the extent permitted by applicable law, payment may be
made in one (or a combination of two or more) of the following forms:
		
		  	 •        Cash or check made payable to the
Company.
  
 •        With the Company’s consent, certificates for, or attestations of ownership of, Common Shares that you already own, along with any forms needed to effect a transfer of those shares
to the Company. The Fair Market Value of the shares, determined as of the effective date of the option exercise, will be applied to the option exercise price.
  
 •        To the extent permitted by applicable law, irrevocable directions to a
securities broker approved by the Company to sell all or part of your option shares and to deliver to the Company from the sale proceeds an amount sufficient to pay the option exercise price and any withholding taxes. (The balance of the sale
proceeds, if any, will be delivered to you.) The Company may require a specific notice of exercise, which may require information from the broker, to use this method of exercise.

		
	Withholding Taxes and Stock Withholding	  	You will not be allowed to exercise this option unless you make arrangements acceptable to the Company to pay any withholding taxes that may be due as a result of the option exercise. With
the Company’s consent, these arrangements may include withholding Common Shares that otherwise would be issued to you when you exercise this option, with respect to up to the statutory minimum withholding amount required by applicable tax law.
Such withheld Common Shares shall be valued at their Fair Market Value on the date they are withheld. The Company shall not be required to issue any Common Shares with respect to this option until such tax withholding obligations are
satisfied.
		
	Restrictions on Resale	  	You agree not to sell any option shares at a time when applicable laws, Company policies or an agreement between the Company and its underwriters prohibit a sale. This restriction will apply
as long as your Service continues and for such period of time after the termination of your Service as the Company may specify.

  

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	Transfer of Option	  	 Before your death and except as otherwise provided in the Plan, only you may exercise this option. You cannot transfer or assign this option,
except as otherwise provided in the Plan. For instance, you may not sell this option or use it as security for a loan. If you attempt to do any of these things, this option will immediately become invalid. You may, however, dispose of this option in
your will or by a beneficiary designation.
  
 Regardless of any marital property
settlement agreement, the Company is not obligated to honor a notice of exercise from your former spouse, nor is the Company obligated to recognize your former spouse’s interest in your option in any other way.

		
	Employment or Retention Rights	  	None of the Notice of Stock Option Grant, this Stock Option Agreement or your option gives you the right to be retained by the Company or a parent, subsidiary or affiliate of the Company in
any capacity. The Company and any parent, subsidiary or affiliate of the Company reserve the right to terminate your Service at any time, with or without cause.
		
	Stockholder Rights	  	You, or your estate or heirs, have no rights as a stockholder of the Company under this option and with respect to the Option Shares until you have exercised this option by giving the
required notice to the Company and paying the exercise price. No adjustments are made for dividends or other rights if the applicable record date occurs before you exercise this option, except as described in the Plan.
		
	Adjustments	  	In the event of a stock split, a stock dividend or a similar change in Company stock, the number of shares covered by this option and the exercise price per share may be adjusted pursuant to
the Plan.
		
	Applicable Law	  	This Stock Option Agreement will be interpreted and enforced under the laws of the State of Delaware (without regard to their choice-of-law provisions).
		
	The Plan and Other Agreements	  	The text of the Plan is incorporated in this Agreement by reference. A copy of the Plan is available on the Company’s intranet or by request to the Company’s Finance Department.

		
		  	This Stock Option Agreement, together with the Notice of Stock Option Grant and the Plan constitute the entire understanding between you and the Company regarding this option. Any prior
agreements, commitments or negotiations concerning this option are superseded. This Agreement may be amended only by another written agreement signed by both parties.

 YOU AGREE TO ALL OF
THE TERMS AND CONDITIONS DESCRIBED ABOVE AND IN THE PACKETEER, INC.
STOCK INCENTIVE PLAN. 
  

 4Restricted Stock Agreement

 Exhibit 10.54 
 BLUE COAT SYSTEMS, INC. 
 PACKETEER,
INC. 
 1999 STOCK INCENTIVE PLAN 
 (AS ASSUMED BY BLUE COAT SYSTEMS, INC.
ON JUNE 6, 2008) 
 RESTRICTED STOCK AGREEMENT 

 (US EMPLOYEES) 
  

			
		
	Grant	  	On the terms and conditions set forth in the Notice of Restricted Stock Award and this Restricted Stock Agreement (“Agreement”), the Company hereby grants to you the number of
Shares set forth in the Notice of Restricted Stock Award. Terms not defined in this Agreement shall have the meaning set forth in the Packeteer 1999 Stock Incentive Plan, as amended and restated on December 12, 2007, incorporated herein by
reference.
		
	Payment for Shares	  	No payment is required for the Shares that you are receiving, except for satisfying any withholding taxes that may be due as a result of the grant of this award, the vesting of the Shares or
the transfer of the Shares.
		
	Vesting	  	The Shares will vest and become non-forfeitable, as shown in the Notice of Restricted Stock Award. No additional Shares vest after your service as an Employee or consultant of the Company or
a parent, subsidiary or affiliate of the Company (“Service”) has terminated for any reason.
		
	Corporate Transaction	  	In the event of a Corporate Transaction, then the vesting of the Shares will not automatically accelerate unless this award is, in connection with the Corporate Transaction, not to be assumed
by the successor corporation (or its parent) or to be replaced with a comparable award for shares of the capital stock of the successor corporation (or its parent). The determination of award comparability will be made by the Primary Committee, and
its determination will be final, binding and conclusive.
		
	Involuntary Termination After a Corporate Transaction	  	 If in connection with a Corporate Transaction the award is assumed by the successor corporation (or its parent) and you experience an Involuntary
Termination within eighteen months following such Corporate Transaction, the vesting of the Shares will automatically accelerate so that this award will, immediately before the effective date of the Involuntary Termination, become fully vested for
all of the Shares at the time subject to this award.
  
 Involuntary Termination shall have
the meaning set forth in the Plan.

			
		
	Forfeiture	  	If your Service terminates for any reason, then this award will automatically terminate (and the Shares shall be forfeited) with respect to any Shares that (a) have not vested before your
termination date and (b) do not vest as a result of the termination. You will receive no payment for any Shares that are forfeited under this Agreement. The Company determines when your Service terminates for this purpose.
		
	Leaves of Absence and Part-Time Work	  	 For purposes of this award, your Service does not terminate when you go on a military leave, a sick leave or another bona fide leave of
absence, if the leave was approved by the Company in writing and if continued crediting of Service is required by applicable law, the Company’s leave of absence policy or the terms of your leave. But your Service terminates when the approved
leave ends, unless you immediately return to active work.
  
 If you go on a leave of
absence, then the vesting schedule specified in the Notice of Restricted Stock Award may be adjusted in accordance with the Company’s leave of absence policy or the terms of your leave.

		
	Stock Certificates	  	The certificates for Shares that have not vested may be held in escrow by the Company.
		
	Restrictions on Delivery	  	The Company reserves the right to restrict, in whole or in part, the delivery of vested shares pursuant to your award prior to the satisfaction of all legal requirements relating to the
issuance of such shares, to their registration, qualification or listing or to an exemption from registration, qualification or listing.
		
	Voting Rights	  	You may vote your Shares even before they vest until or unless such Shares are forfeited.
		
	Withholding Taxes	  	No stock certificates will be released to you unless you have made arrangements, acceptable to the Company, to pay any and all withholding taxes that may be due as a result of (a) the grant
of this award, (b) the vesting of the Shares or (c) the transfer of the Shares to you. With the Company’s consent, these arrangements may include (i) withholding Shares of Company stock granted hereunder with a Fair Market Value equal to
or less than the minimum amount of taxes the Company is required to withhold, (ii) surrendering shares that you previously acquired or (iii) the payment of withholding taxes from the proceeds of the sale of Shares through a Company-approved
broker. The Fair Market Value of the shares you surrender, determined as of the date taxes otherwise would have been withheld in cash, will be applied as a credit against the withholding taxes. The Company reserves the right to withhold Shares
pursuant to clause (i) or to withhold from any other amounts due to you from the Company if you have not satisfied your tax withholding obligations.

  

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	Restrictions on Resale	  	Unvested Shares may not be transferred by you, and the Company may take such action as it deems appropriate to enforce the foregoing. You agree not to sell any vested shares when applicable
laws, Company policies or an agreement between the Company and its underwriters prohibit a sale. This restriction will apply during your Service and for such period of time after the termination of your Service as the Company may
specify.
		
	No Retention Rights	  	None of the Notice of Restricted Stock Award, this Agreement, or your award gives you the right to be retained by the Company or a parent, subsidiary or affiliate of the Company in any
capacity. The Company and any parent, subsidiary or affiliate of the Company reserve the right to terminate your Service at any time, with or without cause.
		
	Adjustments	  	In the event of a stock split, a stock dividend or a similar change in Company stock, the number of Shares that have not been transferred to you and remain subject to this award may be
adjusted pursuant to the Plan.
		
	Applicable Law	  	This Agreement will be interpreted and enforced under the laws of the State of Delaware (without regard to their choice-of-law provisions).
		
	The Plan and Other Agreements	  	 The text of the Plan is incorporated in this Agreement by reference. A copy of the Plan is available on the Company’s intranet or by request
to the Company’s Finance Department.
  
 This Agreement, together with the Notice of
Restricted Stock Award and the Plan, constitute the entire understanding between you and the Company regarding this award. Any prior agreements, commitments or negotiations concerning this award are superseded. This Agreement may be amended only by
another written agreement between the parties.

 You agree to all of the terms and conditions described above and in the Packeteer 1999 Stock
Incentive Plan. 
  

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