Document:

Exhibit 10.1

Summary of Non-Employee Director Compensation Program

IHS Inc.

Approved July 6, 2006

Program
Summary

Our non-employee directors receive compensation for their board service.
Cash compensation is comprised of an annual cash retainer of $60,000 (which may
be converted into deferred stock units or deferred under our directors stock
plan, as described in our Annual Report on Form 10-K under “Equity
Compensation Plans—IHS Inc. 2004 Directors Stock Plan”) and a fee of $1,500 per
board or committee meeting attended, plus reimbursement for all reasonably
incurred expenses related to the meeting. Additionally, certain directors may
earn annual retainers as follows:  a
$20,000 Audit Committee chair retainer; a $10,000 committee chair retainer for
committees other than our Audit Committee; and a $5,000 Audit Committee member
retainer.

In addition, on December 1 of each year of service, pro-rated for
any partial year of service, each non-employee director (other than Michael
Klein, who receives cash compensation in lieu of equity) will receive an equity
award consisting of restricted stock units, whose underlying shares will have,
on the date of grant, a fair market value equal to $100,000 (rounded to the
nearest whole number of shares).  On each
December 1, commencing with December 1, 2005, each non-employee
director, who was not on the preceding December 1 a director, will receive
a one-time award consisting of restricted stock units, whose underlying shares
will have, on the date of grant, a fair market value (as defined in the plan)
equal to $80,000 (rounded to the nearest whole number of shares).  All equity awards for non-employee directors
will be issued pursuant to the IHS Inc. 2004 Directors Stock Plan. Each
non-employee director is required to hold all equity awarded until that director
no longer serves on our Board of Directors.

We provide liability insurance for each of our directors.

Summary
of Revisions

	
  

  	
   

  	
  Existing

  Program

  	
   

  	
  Revised

  Program

  	
   

  
	
  Non-Employee
  Director

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Annual Retainer

  	
   

  	
  $

  	
  40,000

  	
   

  	
  $

  	
  60,000

  	
   

  
	
  Per Meeting Fee

  	
   

  	
  $

  	
  1,500

  	
   

  	
  $

  	
  1,500

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Committee

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Annual Retainer

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Audit Committee
  Chairman

  	
   

  	
  $

  	
  20,000

  	
   

  	
  $

  	
  20,000

  	
   

  
	
  Chairman other
  than Audit

  	
   

  	
  $

  	
  5,000

  	
   

  	
  $

  	
  10,000

  	
   

  
	
  Audit Committee
  Member

  	
   

  	
  $

  	
  5,000

  	
   

  	
  $

  	
  5,000

  	
   

  
	
  Per Meeting Fee

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Chairman

  	
   

  	
  $

  	
  1,500

  	
   

  	
  $

  	
  1,500

  	
   

  
	
  Member

  	
   

  	
  $

  	
  1,500

  	
   

  	
  $

  	
  1,500

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Equity

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  One-Time

  	
   

  	
  $

  	
  80,000

  	
   

  	
  $

  	
  80,000

  	
   

  
	
  Annual (1)

  	
   

  	
  $

  	
  50,000

  	
   

  	
  $

  	
  100,000

  	
   

  

(1)          The revised annual equity grant for Fiscal Year 2006, pro-rated for the
remainder of the fiscal year, resulted in an additional $25,000 of common stock
being awarded to each non-employee director on July 6, 2006 (in lieu of
equity, $25,000 cash compensation was awarded to Mr. Klein).Exhibit 10.2

IHS INC.

2004 LONG-TERM INCENTIVE PLAN

2006 STOCK OPTION AWARD

This
Stock Option Award Document (this “Award Document”) sets forth the terms of a
stock option award given to              
(“you”) by IHS Inc. (the “Company”).

Unless
defined in this Option Award (this “Award
Document”), capitalized terms will have the same meanings ascribed
to them in the IHS Inc. 2004 Long-Term Incentive Plan (as may be amended from
time to time, the “Plan”).

Pursuant
to Article 6 of the Plan, you have been granted a non-qualified Option on
the following terms and subject to the provisions of the Plan, which is
incorporated by reference. In the event of a conflict between the provisions of
the Plan and this Award Document, the provisions of the Plan will prevail.

	
  Participant:

  	
   

  
	
   

  	
   

  
	
  Total Number of Shares Underlying Option:

  	
            
  Shares

  
	
   

  	
   

  
	
  Employee ID:

  	
   

  
	
   

  	
   

  
	
  Exercise Price per Share:

  	
  $           per Share(1)

  
	
   

  	
   

  
	
  Grant Date:

  	
            
  , 

  
	
   

  	
   

  
	
  Expiration Date:

  	
            
  , 

  
	
   

  	
   

  
	
  Vesting Schedule:

  	
  100% will vest on the fourth anniversary of the
  Grant Date; provided, however, that in the
  event of a Change in Control, this Award shall be subject to Article 18
  of the Plan.

  

 

By
your signature and the signature of the Company’s representative below, you and
the Company agree that this Option is granted under and governed by the terms
and conditions of the Plan and the terms and conditions set forth in the
attached as Exhibit A. YOU MUST ACCEPT THIS AWARD WITHIN 90 DAYS OF
THE GRANT DATE OR THE AWARD WILL BE AUTOMATICALLY CANCELLED.

	
  RECIPIENT

  	
   

  	
  IHS INC.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
  (type name)

  	
   

  	
  Title:

  	
   

  

(1)  The Exercise Price, unless otherwise
determined by the Human Resources Committee, is the published closing price of
a Share reported on the NYSE on the Grant Date.

 

 

EXHIBIT A

TERMS AND CONDITIONS OF
THE

2006 OPTION AWARD

Vesting.

This
Option will vest and become exercisable in accordance with the “Vesting
Schedule” set forth in this Award Document. Any portion of this Option that becomes
exercisable in accordance with the foregoing will remain exercisable until the eighth
anniversary of the Grant Date, unless earlier terminated pursuant to the Plan
or this Award Document (including, without limitation, the section below
entitled “Termination”). Prior to the exercise of this Option, you will not
have any rights of a shareholder with respect to such Option or the Shares
subject thereto.

Method of Exercise.

This
Option will be exercisable by (1) delivery of an exercise notice in the
form attached as Exhibit B (the “Exercise
Notice”) (or following any other method approved or accepted by the
Committee in its sole discretion, including, if the Committee so determines, a
cashless (broker-assisted) exercise) and (2) payment therefor pursuant to Section 6.6
of the Plan.

No
Shares will be delivered pursuant to the exercise of an Option unless the exercise
of this Option and the delivery of such Shares complies with applicable law. Assuming
such compliance, for income tax purposes, the Shares will be considered
transferred to you on the date when the Option is exercised with respect to the
Shares.

Termination.

Upon
termination of your employment  for any
reason, then you may exercise this Option within 3 months after the date of termination
(or, in the event of your death or termination due to your Disability (as
defined below), within 12 months after such death or termination due to your Disability)
(such 3-month or 12-month period, the “Option Exercise Period”) to the extent that this Option is vested
on such date. If this Option (or any portion of this Option) is unvested, then
it (or such portion) will be forfeited without any consideration and, for
purposes of Section 4.2 of the Plan, the Shares covered by this Option (or
such portion) will again
be available for issuance under the Plan. If this Option is exercisable, then,
if you (or, if applicable, such other person who is entitled to exercise this
Option) do not exercise this Option on or prior to the expiration of the Option
Exercise Period, this Option will terminate, and, for purposes of Section 4.2
of the Plan, the Shares covered by this Option will again be available for issuance under the Plan. In no event may
you exercise this Option after the Expiration Date.

For
purposes of this Award Document, “Disability”
shall mean a mental or physical illness that entitles you to receive benefits
under the long-term disability plan of the Company or an Affiliate; provided that you remain totally disabled for six (6) consecutive
months. If you are not covered by such a plan, “Disability” shall be defined by
reference to the Company’s long-term disability policy as if such policy
applied to you.

Withholding Taxes.

You
acknowledge that you are required to make acceptable arrangements to pay any
withholding taxes that may be due as a result of receipt of this Award or the delivery

 A-1
 

 

 

of Shares underlying this Option, and no stock
certificate will be released to you until you have made such arrangements. These
arrangements may include, at the Company’s discretion, withholding of Shares
that otherwise would be released to you when they are delivered or surrendering
of Shares that you already own. The FMV of the Shares that are withheld or that
you surrender, if applicable, determined as of the date when the taxes
otherwise would have been withheld in cash, will be applied as a credit against
the taxes.

Tax Consultation.

By
signing this Award Document, you represent that you have consulted with any tax
consultant(s) you deem advisable in connection with the grant and vesting of
this Option and any purchase or disposition of the Shares underlying this
Option, that you are not relying on the Company or an Affiliate for any tax
advice and that you will hold the Company and its Affiliates harmless from any
and all tax liabilities imposed in connection with the grant and vesting of
this Option and any purchase or disposition of the Shares underlying this
Option.

No Guarantee of Continued Service.

YOU
ACKNOWLEDGE AND AGREE THAT THE VESTING OF THIS OPTION PURSUANT TO THE “VESTING
SCHEDULE” SET FORTH IN THE AWARD DOCUMENT IS EARNED ONLY BY CONTINUING AS AN
EMPLOYEE  AT THE WILL OF THE COMPANY (NOT
THROUGH THE ACT OF BEING HIRED OR BEING GRANTED THIS AWARD). YOU FURTHER
ACKNOWLEDGE AND AGREE THAT THIS AWARD DOCUMENT, THE TRANSACTIONS CONTEMPLATED
HEREUNDER AND THE “VESTING SCHEDULE” DO NOT CONSTITUTE AN EXPRESS OR IMPLIED
PROMISE OF CONTINUED EMPLOYMENT  FOR ANY
PERIOD OR AT ALL AND WILL NOT INTERFERE IN ANY WAY WITH YOUR RIGHT OR THE COMPANY’S
OR ANY AFFILIATE’S RIGHT TO DISMISS YOU FROM EMPLOYMENT AT ANY TIME OR FOR ANY
REASON NOT PROHIBITED BY LAW AND WILL NOT CONFER UPON YOU ANY RIGHT TO CONTINUE
YOUR EMPLOYMENT FOR ANY SPECIFIED PERIOD OF TIME.

Data Protection

You
acknowledge and agree that, for the reasons described below, the Company or any
of its Affiliates may process sensitive personal data about you. Such data may
include, but shall not be limited to:

·                  Personal
data:  Name, address, telephone
number, fax number, email address, family size, marital status, sex, beneficiary
information, emergency contacts, passport or visa information, age, language
skills, drivers license information, birth certificate and employee number.

·                  Employment
information:  Curriculum vitae or
resume, wage history, employment references, job title, employment or severance
agreement, plan or benefit enrollment forms and elections and equity
compensation or benefit statements.

·                  Financial
information:  Current wage and
benefit information, personal bank account number, brokerage account information,
tax related information and tax identification number.

The
Company may, from time to time, process and transfer this or other 

 A-2
 

 

 

information for internal compensation and benefit
planning (specifically, for enrollment purposes in the Plan and the
administration of the Plan), to determine training needs, to develop a global
human resource database and to evaluate skill utilization.

The
legal persons for whom your personal data is intended are the Company, the
outside plan administrator (as selected by the Company from time to time),
legal counsel to the Company (as selected by the Company from time to time),
the accountants for the Company (as selected by the Company from time to time)
and any other person that the Company may find in its administration of the
Plan to be appropriate. You acknowledge that you have been informed of your
right to access and correct any personal data by contacting:

Jeffrey Sisson

Sr. VP Global Human Resources

IHS Inc.

15 Inverness Way East

Englewood, Colorado 80112

Telephone No.: 303-397-2383

Facsimile No.: 303-754-3984

E-mail:     jeff.sisson@ihs.com

The
Company agrees to ensure that all personal and/or sensitive data that is
transmitted will be kept confidential and used only for legitimate Company
purposes as described above.

You
hereby give your explicit consent to the Company to process any such personal
and/or sensitive data. You also hereby provide explicit consent to the Company
to transfer any such personal and/or sensitive data outside of the country in
which you work or are employed.

Acquired Rights

You acknowledge and agree that this Award does not
provide any entitlement to any benefit other than that granted under the Plan.

You further acknowledge that this Award is
discretionary, a one-time benefit, and does not entitle you to future awards of
stock options or other forms of equity-based compensation.

You further acknowledge and agree that any benefits
granted under the Plan are not a part of your base salary, and will not be
considered a part of any pension or severance payments in the event of the
termination of your employment for any reason.

If your employment is terminated for any reason, whether
lawfully or unlawfully, you agree that you will not be entitled to any damages
for breach of contract, dismissal or compensation for loss of office or
otherwise to any sum, shares or other benefits to compensate you for the loss
or diminution in value of any actual
or prospective right, benefits or expectation under or in relation to this Award.

You acknowledge and agree that the benefits
granted under the Plan are entirely at the discretion of the Committee and that
the Committee, subject to Article 19 of the Plan, retains the right to
alter, amend, modify, suspend or terminate the Plan at any time, in its sole
discretion and without notice.

 A-3
 

 

 

Entire Agreement; Governing Law.

The
Plan and this Award Document constitute the entire agreement of the parties
with respect to the subject matter hereof and supersede in their entirety all
prior undertakings and agreements of the Company and you with respect to the
subject matter hereof. This Award Document may not be modified in a manner that
impairs your rights heretofore granted under the Plan, except with your consent.
This Award Document is governed by the laws of the State of Delaware, excluding
any conflicts or choice of law rule or principle that might otherwise
refer construction or interpretation of this Award Document to the substantive
law of another jurisdiction.

BY SIGNING THE AWARD DOCUMENT, YOU
ACKNOWLEDGE RECEIPT OF A COPY OF THE PLAN AND REPRESENT THAT YOU ARE FAMILIAR
WITH THE TERMS AND CONDITIONS OF THE PLAN, AND HEREBY ACCEPT THIS AWARD SUBJECT
TO ALL PROVISIONS IN THIS AWARD DOCUMENT AND IN THE PLAN. YOU HEREBY AGREE TO
ACCEPT AS FINAL, CONCLUSIVE AND BINDING ALL DECISIONS OR INTERPRETATIONS OF THE
COMMITTEE UPON ANY QUESTIONS ARISING UNDER THE PLAN OR THIS AWARD DOCUMENT.

 A-4

 

 

EXHIBIT B

IHS INC. 

2004 LONG-TERM INCENTIVE PLAN

EXERCISE NOTICE

IHS Inc.

15 Inverness Way East

Englewood, Colorado 80112

Attention:  Senior Vice President —
Global Human Resources

Facsimile No.:   (303) 754-3984

1.             Exercise of Option. Effective
as of today,            ,
2      , the undersigned (the “Participant”) hereby elects to exercise the Participant’s
option to purchase             
Shares of the Company under and pursuant to the IHS Inc. 2004 Long-Term
Incentive Plan (as may be amended from time to time, the “Plan”)
and the 2006 Option Award Document dated             ,
2006 (the “Award Document”). Capitalized
terms used but not defined in this Exercise Notice have the meanings given to
them under the Plan or the Award Document, as applicable.

2.             Delivery of Payment. The
Participant herewith delivers to the Company the full relevant exercise price,
plus any amounts required to be withheld, in respect of such exercise.

3.             Representations of Participant.
The Participant acknowledges that the Participant has received, read and
understood the Plan and the Award Document and agrees to abide by and be bound
by their provisions.

4.             Rights as a Shareholder. Until
the delivery of the Shares (as evidenced by the appropriate entry on the books
of the Company or of a duly authorized transfer agent of the Company), no right
to vote or receive dividends or any other rights as a shareholder shall exist
with respect to such Shares, notwithstanding this exercise of an Option. The Shares
shall be delivered to the Participant as soon as practicable after the date of
this Exercise Notice. No adjustment shall be made for a dividend or other right
for which the record date is prior to the date of delivery.

5.             “Stop-Transfer” Orders and Other Restrictions.

(a)           “Stop-Transfer”
Orders. The Participant agrees that in order to ensure compliance with the
restrictions referred to herein, the Company may issue appropriate “stop-transfer”
orders to its transfer agent, if any, and that, if the Company transfers its
own securities, it may make appropriate notations to the same effect in its own
records.

(b)           Refusal
to Transfer. The Company shall not be required (i) to transfer on its
books any Shares that have been sold or otherwise transferred in violation of
any of the provisions of the Plan, the Award Document or this Exercise Notice
or (ii) to treat as owner of such Shares or to accord the right to vote or
pay dividends to any purchaser or other transferee to whom such Shares shall
have been so transferred.

6.             Successors and Assigns. The
Company may assign any of its rights under this Exercise Notice to single or
multiple assignees, and this Exercise Notice shall 

 B-1
 

 

 

inure to the benefit of the successors and assigns of
the Company. Subject to the restrictions on transfer set forth herein, this
Exercise Notice shall be binding upon the Participant and his or her heirs,
executors, administrators, successors and assigns.

7.             Interpretation. Any dispute
regarding the interpretation of this Exercise Notice shall be reviewed by the
Committee. All decisions of the Committee shall be final, conclusive and
binding on all parties.

8.             Governing Law. This Exercise
Notice is governed by the laws of the State of Delaware, excluding any
conflicts or choice of law rule or principle that might otherwise refer
construction or interpretation of this Award Document to the substantive law of
another jurisdiction.

 B-2
 

 

 

9.             Entire Agreement. The Plan
and the Award Document are incorporated herein by reference. This Exercise
Notice, the Plan and the Award Document, constitute the entire agreement of the
parties with respect to the subject matter hereof and supersede in their
entirety all prior undertakings and agreements of the Company and the
Participant with respect to the subject matter hereof, and may not be modified
adversely to the Participant’s interest except by means of a writing signed by
the Company and the Participant.

	
   Submitted by:

  	
   

  	
  Accepted by:

  
	
   

  	
   

  	
   

  
	
  PARTICIPANT:

  	
   

  	
  IHS INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Signature

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Print Name

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Date Received

  

 

 B-3

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