Document:

Form of Stock Option Agreement (Early Exercise)

 Exhibit 10.4 
 BAZAARVOICE, INC. 
 2005 STOCK PLAN 

STOCK OPTION AGREEMENT — EARLY EXERCISE 

Unless otherwise defined herein, the terms defined in the 2005 Stock Plan shall have the same defined meanings in this
Stock Option Agreement. 
  

	I.	 NOTICE OF STOCK OPTION GRANT 

  

			
	 Name:
	  	
                             
                                         
                          

	 Address:
	  	
                             
                                         
                          

		  	
                             
                                         
                          

 The undersigned Optionee has been granted an Option to purchase Common Stock of the
Company, subject to the terms and conditions of the Plan and this Option Agreement, as follows: 
  

			
	Date of Grant:	  	
                             
                                         
                          

		
	Vesting Commencement Date:	  	
                             
                                         
                          

		
	Exercise Price per Share: 	  	 $
                                         
                                         
          

		
	Total Number of Shares Granted:	  	
                             
                                         
                          

		
	Total Exercise Price: 	  	 $
                                         
                                         
          

		
	Type of Option:	  	           Incentive Stock Option
		
		  	           Nonstatutory Stock Option
		
	Term/Expiration Date:	  	Tenth Anniversary of Date of Grant

 Vesting Schedule: [One fourth ( 1/4th) of the shares of Common Stock subject to the Option shall vest
on the first anniversary of the Vesting Commencement Date and an additional one forty-eighth (1/48th) of the total number of shares of Common Stock subject to the Option shall vest on the corresponding day of each month thereafter, or to the
extent such a month does not have the corresponding day, on the last day of any such month, provided that the Optionee continues to be a Service Provider on such dates.] 

Termination Period: This Option shall be exercisable for three (3) months after Optionee ceases to be a
Service Provider. Upon Optionee’s death or Disability, this Option may be exercised for one (1) year after Optionee ceases to be a Service Provider. In no event may Optionee exercise this Option after the Term/Expiration Date as provided
above. 

	II.	 AGREEMENT 

 1. Grant of Option. The Administrator of the Company hereby grants to the Optionee named in the Notice of Grant in Part I of this Agreement (the “Optionee”), an option (the
“Option”) to purchase the number of Shares set forth in the Notice of Grant, at the exercise price per Share set forth in the Notice of Grant (the “Exercise Price”), and subject to the terms and
conditions of the Plan, which is incorporated herein by reference. Subject to Section 15(c) of the Plan, in the event of a conflict between the terms and conditions of the Plan and this Option Agreement, the terms and conditions of the Plan
shall prevail. 
 If designated in the Notice of Grant as an Incentive Stock Option
(“ISO”), this Option is intended to qualify as an Incentive Stock Option as defined in Section 422 of the Code. Nevertheless, to the extent that it exceeds the $100,000 rule of Code Section 422(d), this Option shall
be treated as a Nonstatutory Stock Option (“NSO”). 
 2. Exercise of Option. This
Option shall be exercisable during its term in accordance with the provisions of Section 10 of the Plan as follows: 
 (a) Right to Exercise. 
 (i) Subject to
subsections 2(a)(ii) and 2(a)(iii) below, this Option shall be exercisable cumulatively according to the vesting schedule set forth in the Notice of Grant. Alternatively, at the election of the Optionee, this Option may be exercised in whole or
in part at any time as to Shares that have not yet vested. Vested Shares shall not be subject to the Company’s repurchase right (as set forth in the Restricted Stock Purchase Agreement, attached hereto as Exhibit C-1). 

(ii) As a condition to exercising this Option for unvested Shares, the Optionee shall execute the
Restricted Stock Purchase Agreement. 
 (iii) This Option may not be exercised for a fraction of
a Share. 
 (b) Method of Exercise. This Option shall be exercisable by delivery of an
exercise notice in the form attached as Exhibit A (the “Exercise Notice”), which shall state the election to exercise the Option, the number of Shares with respect to which the Option is being exercised, and such other
representations and agreements as may be required by the Company. The Exercise Notice shall be accompanied by payment of the aggregate Exercise Price as to all Exercised Shares. This Option shall be deemed to be exercised upon receipt by the Company
of such fully executed Exercise Notice accompanied by the aggregate Exercise Price. 
 No Shares
shall be issued pursuant to the exercise of an Option unless such issuance and such exercise comply with Applicable Laws. Assuming such compliance, for income tax purposes the Shares shall be considered transferred to the Optionee on the date on
which the Option is exercised with respect to such Shares. 

  
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 3. Optionee’s Representations. In the event the Shares have not
been registered under the Securities Act of 1933, as amended, at the time this Option is exercised, the Optionee shall, if required by the Company, concurrently with the exercise of all or any portion of this Option, deliver to the Company his or
her Investment Representation Statement in the form attached hereto as Exhibit B. 
 4. Lock-Up
Period. Optionee hereby agrees that Optionee shall not offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise
transfer or dispose of, directly or indirectly, any Common Stock (or other securities) of the Company or enter into any swap, hedging or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership
of any Common Stock (or other securities) of the Company held by Optionee (other than those included in the registration) for a period specified by the representative of the underwriters of Common Stock (or other securities) of the Company not to
exceed one hundred eighty (180) days following the effective date of any registration statement of the Company filed under the Securities Act. 

Optionee agrees to execute and deliver such other agreements as may be reasonably requested by the Company
or the underwriter which are consistent with the foregoing or which are necessary to give further effect thereto. In addition, if requested by the Company or the representative of the underwriters of Common Stock (or other securities) of the
Company, Optionee shall provide, within ten (10) days of such request, such information as may be required by the Company or such representative in connection with the completion of any public offering of the Company’s securities pursuant
to a registration statement filed under the Securities Act. The Company may impose stop-transfer instructions with respect to the shares of Common Stock (or other securities) subject to the foregoing restriction until the end of said one hundred
eighty (180) day period. Optionee agrees that any transferee of the Option or shares acquired pursuant to the Option shall be bound by this Section. 
 5. Method of Payment. Payment of the aggregate Exercise Price shall be by any of the following, or a combination thereof, at the election of the Optionee: 

(a) cash; 

(b) check; or 

(c) consideration received by the Company under a formal cashless exercise program adopted by the Company
in connection with the Plan. 
 6. Restrictions on Exercise. This Option may not be exercised until such
time as the Plan has been approved by the shareholders of the Company, or if the issuance of such Shares upon such exercise or the method of payment of consideration for such shares would constitute a violation of any Applicable Law. 

7. Non-Transferability of Option. This Option may not be transferred in any manner otherwise than by will or by
the laws of descent or distribution and may be exercised during the lifetime of Optionee only by Optionee. The terms of the Plan and this Option Agreement shall be binding upon the executors, administrators, heirs, successors and assigns of the
Optionee. 

  
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 8. Term of Option. This Option may be exercised only within the term
set out in the Notice of Grant, and may be exercised during such term only in accordance with the Plan and the terms of this Option. 
 9. Tax Obligations. 
 (a) Withholding
Taxes. Optionee agrees to make appropriate arrangements with the Company (or the Parent or Subsidiary employing or retaining Optionee) for the satisfaction of all Federal, state, local and foreign income and employment tax withholding
requirements applicable to the Option exercise. Optionee acknowledges and agrees that the Company may refuse to honor the exercise and refuse to deliver the Shares if such withholding amounts are not delivered at the time of exercise. 

(b) Notice of Disqualifying Disposition of ISO Shares. If the Option granted to Optionee herein is
an ISO, and if Optionee sells or otherwise disposes of any of the Shares acquired pursuant to the ISO on or before the later of (1) the date two years after the Date of Grant, and (2) the date one year after the date of exercise, the
Optionee shall immediately notify the Company in writing of such disposition. Optionee agrees that Optionee may be subject to income tax withholding by the Company on the compensation income recognized by the Optionee. 

10. Entire Agreement; Governing Law. The Plan is incorporated herein by reference. The Plan and this Option
Agreement 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 Optionee with respect to the subject matter hereof, and may
not be modified adversely to the Optionee’s interest except by means of a writing signed by the Company and Optionee. This Agreement is governed by the internal substantive laws but not the choice of law rules of Texas. 

11. No Guarantee of Continued Service. OPTIONEE AGREES THAT THE VESTING OF SHARES PURSUANT TO THE VESTING SCHEDULE
HEREOF IS EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER AT THE WILL OF THE COMPANY (NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED THIS OPTION OR ACQUIRING SHARES HEREUNDER). OPTIONEE FURTHER ACKNOWLEDGES AND AGREES THAT THIS AGREEMENT, THE
TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS A SERVICE PROVIDER FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND SHALL NOT INTERFERE IN
ANY WAY WITH OPTIONEE’S RIGHT OR THE COMPANY’S RIGHT TO TERMINATE OPTIONEE’S RELATIONSHIP AS A SERVICE PROVIDER AT ANY TIME, WITH OR WITHOUT CAUSE. 

Optionee acknowledges receipt of a copy of the Plan and represents that he or she is familiar with the terms and
provisions thereof, and hereby accepts this Option subject to all of the terms and provisions thereof. Optionee has reviewed the Plan and this Option in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this
Option and fully understands all provisions of the Option. Optionee hereby agrees to accept as binding, 

  
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conclusive and final all decisions or interpretations of the Administrator upon any questions arising under the Plan or this Option. Optionee further agrees to notify the Company upon any change
in the residence address indicated below. 
 [Signature page follows.] 

  
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 IN WITNESS WHEREOF, the undersigned have executed this Stock Option
Agreement as of the date written below. 
  

			
	BAZAARVOICE, INC.
		
	By:	 	 
		 	Brett A. Hurt,
		 	President
		
	Date:	 	 

  

	
	OPTIONEE
	
	  
	Name
	
	  
	Signature

  
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 EXHIBIT A 

2005 STOCK PLAN 
 EXERCISE NOTICE 
 Bazaarvoice, Inc. 

3900 N. Capital of Texas Hwy, Suite 300 
 Austin, TX 78746 
 Attention: Secretary 

1. Exercise of Option. Effective as of today,
                            ,
            , the undersigned (“Optionee”) hereby elects to exercise Optionee’s option (the “Option”) to purchase
                                 shares of the Common Stock (the
“Shares”) of Bazaarvoice, Inc. (the “Company”) under and pursuant to the 2005 Stock Plan (the “Plan”) and the Stock Option Agreement dated
                            ,
             (the “Option Agreement”). 
 2. Delivery of Payment. Optionee herewith delivers to the Company the full purchase price of the Shares, as set forth in the Option Agreement, and any and all withholding taxes due in connection
with the exercise of the Option. 
 3. Representations of Optionee. Optionee acknowledges that Optionee
has received, read and understood the Plan and the Option Agreement and agrees to abide by and be bound by their terms and conditions. 
 4. Rights as Shareholder. Until the issuance 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 the Optioned Stock, notwithstanding the exercise of the Option. The Shares shall be issued to the Optionee as soon as practicable after the Option is
exercised in accordance with the Option Agreement. No adjustment shall be made for a dividend or other right for which the record date is prior to the date of issuance except as provided in Section 13 of the Plan. 

5. Company’s Right of First Refusal. Before any Shares held by Optionee or any transferee (either being
sometimes referred to herein as the “Holder”) may be sold or otherwise transferred (including transfer by gift or operation of law), the Company or its assignee(s) shall have a right of first refusal to purchase the Shares on
the terms and conditions set forth in this Section (the “Right of First Refusal”). 
 (a) Notice of Proposed Transfer. The Holder of the Shares shall deliver to the Company a written notice (the “Notice”) stating: (i) the Holder’s bona fide
intention to sell or otherwise transfer such Shares; (ii) the name of each proposed purchaser or other transferee (“Proposed Transferee”); (iii) the number of Shares to be transferred to each Proposed Transferee;
and (iv) the bona fide cash price or other consideration for which the Holder proposes to transfer the Shares (the “Offered Price”), and the Holder shall offer the Shares at the Offered Price to the Company or its
assignee(s). 

 (b) Exercise of Right of First Refusal. At any time
within thirty (30) days after receipt of the Notice, the Company and/or its assignee(s) may, by giving written notice to the Holder, elect to purchase all, but not less than all, of the Shares proposed to be transferred to any one or more of
the Proposed Transferees, at the purchase price determined in accordance with subsection (c) below. 
 (c) Purchase Price. The purchase price (“Purchase Price”) for the Shares purchased by the Company or its assignee(s) under this Section shall be the Offered Price. If the
Offered Price includes consideration other than cash, the cash equivalent value of the non-cash consideration shall be determined by the Board of Directors of the Company in good faith. 

(d) Payment. Payment of the Purchase Price shall be made, at the option of the Company or its
assignee(s), in cash (by check), by cancellation of all or a portion of any outstanding indebtedness of the Holder to the Company (or, in the case of repurchase by an assignee, to the assignee), or by any combination thereof within 30 days after
receipt of the Notice or in the manner and at the times set forth in the Notice. 
 (e)
Holder’s Right to Transfer. If all of the Shares proposed in the Notice to be transferred to a given Proposed Transferee are not purchased by the Company and/or its assignee(s) as provided in this Section, then the Holder may sell or
otherwise transfer such Shares to that Proposed Transferee at the Offered Price or at a higher price, provided that such sale or other transfer is consummated within 120 days after the date of the Notice, that any such sale or other transfer is
effected in accordance with any applicable securities laws and that the Proposed Transferee agrees in writing that the provisions of this Section shall continue to apply to the Shares in the hands of such Proposed Transferee. If the Shares described
in the Notice are not transferred to the Proposed Transferee within such period, a new Notice shall be given to the Company, and the Company and/or its assignees shall again be offered the Right of First Refusal before any Shares held by the Holder
may be sold or otherwise transferred. 
 (f) Exception for Certain Family Transfers.
Anything to the contrary contained in this Section notwithstanding, the transfer of any or all of the Shares during the Optionee’s lifetime or on the Optionee’s death by will or intestacy to the Optionee’s immediate family or a trust
for the benefit of the Optionee’s immediate family shall be exempt from the provisions of this Section. “Immediate Family” as used herein shall mean spouse, lineal descendant or antecedent, father, mother, brother or
sister. In such case, the transferee or other recipient shall receive and hold the Shares so transferred subject to the provisions of this Section, and there shall be no further transfer of such Shares except in accordance with the terms of this
Section. 
 (g) Termination of Right of First Refusal. The Right of First Refusal shall
terminate as to any Shares upon the earlier of (i) first sale of Common Stock of the Company to the general public, or (ii) a Change in Control in which the successor corporation has equity securities that are publicly traded. 

6. Tax Consultation. Optionee understands that Optionee may suffer adverse tax consequences as a result of
Optionee’s purchase or disposition of the Shares. Optionee represents that Optionee has consulted with any tax consultants Optionee deems advisable in connection with 

  
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the purchase or disposition of the Shares and that Optionee is not relying on the Company for any tax advice. 

7. Restrictive Legends and Stop-Transfer Orders. 

(a) Legends. Optionee understands and agrees that the Company shall cause the legends set forth
below or legends substantially equivalent thereto, to be placed upon any certificate(s) evidencing ownership of the Shares together with any other legends that may be required by the Company or by state or federal securities laws: 

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “ACT”) AND MAY
NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER THE ACT OR, IN THE OPINION OF COUNSEL SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS
IN COMPLIANCE THEREWITH. 
 THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS ON
TRANSFER AND A RIGHT OF FIRST REFUSAL HELD BY THE ISSUER OR ITS ASSIGNEE(S) AS SET FORTH IN THE EXERCISE NOTICE BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES, A COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE ISSUER. SUCH
TRANSFER RESTRICTIONS AND RIGHT OF FIRST REFUSAL ARE BINDING ON TRANSFEREES OF THESE SHARES. 
 THE SHARES
REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON TRANSFER FOR A PERIOD NOT TO EXCEED 180 DAYS FOLLOWING THE EFFECTIVE DATE OF THE UNDERWRITTEN PUBLIC OFFERING OF THE COMPANY’S SECURITIES AND MAY NOT BE SOLD OR OTHERWISE DISPOSED
OF BY THE HOLDER WITHOUT THE CONSENT OF THE COMPANY 
 (b) Stop-Transfer Notices. Optionee
agrees that, in order to ensure compliance with the restrictions referred to herein, the Company may issue appropriate “stop transfer” instructions 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. 
 (c) 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 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. 
 8. 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 inure to the benefit of

  
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the successors and assigns of the Company. Subject to the restrictions on transfer herein set forth, this Exercise Notice shall be binding upon Optionee and his or her heirs, executors,
administrators, successors and assigns. 
 9. Interpretation. Any dispute regarding the interpretation of
this Exercise Notice shall be submitted by Optionee or by the Company forthwith to the Administrator, which shall review such dispute at its next regular meeting. The resolution of such a dispute by the Administrator shall be final and binding on
all parties. 
 10. Governing Law; Severability. This Exercise Notice is governed by the internal
substantive laws, but not the choice of law rules, of Texas. 
 11. Entire Agreement. The Plan and Option
Agreement are incorporated herein by reference. This Exercise Notice, the Plan, the Restricted Stock Purchase Agreement, the Option Agreement and the Investment Representation Statement 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 Optionee with respect to the subject matter hereof, and may not be modified adversely to the Optionee’s interest except by means
of a writing signed by the Company and Optionee. 
  

									
	Submitted by:	 		 	Accepted by:
			
	OPTIONEE	 		 	BAZAARVOICE, INC.
				
	 	 		 	By:	 	 
	Signature	 		 		 	
				
	 	 		 	Title:	 	 
	Print Name	 		 		 	
			
	Address:	 		 	Address:
	 	 		 	Bazaarvoice, Inc.
	 	 		 	3900 N. Capital of Texas Hwy, Suite 300
	 	 		 	Austin, TX 78746
			
		 		 	 
		 		 	Date Received

  
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 EXHIBIT B 

INVESTMENT REPRESENTATION STATEMENT 
  

			
	OPTIONEE:	  	
                             
                                         
  

		
	 COMPANY:
	  	Bazaarvoice, Inc.
		
	 SECURITY:
	  	Common Stock
		
	AMOUNT:	  	
                             
                                         
  

		
	DATE:	  	
                             
                                         
  

 In connection with the purchase of the above-listed Securities, the undersigned Optionee
represents to the Company the following: 
 (a) Optionee is aware of the Company’s business
affairs and financial condition and has acquired sufficient information about the Company to reach an informed and knowledgeable decision to acquire the Securities. Optionee is acquiring these Securities for investment for Optionee’s own
account only and not with a view to, or for resale in connection with, any “distribution” thereof within the meaning of the Securities Act of 1933, as amended (the “Securities Act”). 

(b) Optionee acknowledges and understands that the Securities constitute “restricted securities”
under the Securities Act and have not been registered under the Securities Act in reliance upon a specific exemption therefrom, which exemption depends upon, among other things, the bona fide nature of Optionee’s investment intent as expressed
herein. In this connection, Optionee understands that, in the view of the Securities and Exchange Commission, the statutory basis for such exemption may be unavailable if Optionee’s representation was predicated solely upon a present intention
to hold these Securities for the minimum capital gains period specified under tax statutes, for a deferred sale, for or until an increase or decrease in the market price of the Securities, or for a period of one year or any other fixed period in the
future. Optionee further understands that the Securities must be held indefinitely unless they are subsequently registered under the Securities Act or an exemption from such registration is available. Optionee further acknowledges and understands
that the Company is under no obligation to register the Securities. Optionee understands that the certificate evidencing the Securities will be imprinted with any legend required under applicable state securities laws. 

(c) Optionee is familiar with the provisions of Rule 701 and Rule 144, each promulgated under
the Securities Act, which, in substance, permit limited public resale of “restricted securities” acquired, directly or indirectly from the issuer thereof, in a non-public offering subject to the satisfaction of certain conditions.
Rule 701 provides that if the issuer qualifies under Rule 701 at the time of the grant of the Option to the Optionee, the exercise will be exempt from registration under the Securities Act. In the event the Company becomes subject to the
reporting requirements 

 
of Section 13 or 15(d) of the Securities Exchange Act of 1934, ninety (90) days thereafter (or such longer period as any market stand-off agreement may require) the Securities exempt
under Rule 701 may be resold, subject to the satisfaction of certain of the conditions specified by Rule 144, including: (1) the resale being made through a broker in an unsolicited “broker’s transaction” or in
transactions directly with a market maker (as said term is defined under the Securities Exchange Act of 1934); and, in the case of an affiliate, (2) the availability of certain public information about the Company, (3) the amount of
Securities being sold during any three month period not exceeding the limitations specified in Rule 144(e), and (4) the timely filing of a Form 144, if applicable. 

In the event that the Company does not qualify under Rule 701 at the time of grant of the Option,
then the Securities may be resold in certain limited circumstances subject to the provisions of Rule 144, which requires the resale to occur not less than one year after the later of the date the Securities were sold by the Company or the
date the Securities were sold by an affiliate of the Company, within the meaning of Rule 144; and, in the case of acquisition of the Securities by an affiliate, or by a non-affiliate who subsequently holds the Securities less than two years,
the satisfaction of the conditions set forth in sections (1), (2), (3) and (4) of the paragraph immediately above. 
 (d) Optionee further understands that in the event all of the applicable requirements of Rule 701 or 144 are not satisfied, registration under the Securities Act, compliance with Regulation A, or
some other registration exemption will be required; and that, notwithstanding the fact that Rules 144 and 701 are not exclusive, the Staff of the Securities and Exchange Commission has expressed its opinion that persons proposing to sell private
placement securities other than in a registered offering and otherwise than pursuant to Rules 144 or 701 will have a substantial burden of proof in establishing that an exemption from registration is available for such offers or sales, and that such
persons and their respective brokers who participate in such transactions do so at their own risk. Optionee understands that no assurances can be given that any such other registration exemption will be available in such event. 

 

			
	Signature of Optionee:
	
	  
		
	Date:	 	 

  
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 EXHIBIT C-1 

BAZAARVOICE, INC. 
 2005 STOCK PLAN 
 RESTRICTED STOCK PURCHASE AGREEMENT 

THIS AGREEMENT is made between
                                         
            (the “Purchaser”) and Bazaarvoice, Inc. (the “Company”) or its assignees of rights hereunder as of
                                ,
            . 
 Unless otherwise defined
herein, the terms defined in the 2005 Stock Plan shall have the same defined meanings in this Agreement. 
 RECITALS

 A. Pursuant to the exercise of the option (grant number
            ) granted to Purchaser under the Plan and pursuant to the Option Agreement dated
                        ,             by and between
the Company and Purchaser with respect to such grant (the “Option”), which Plan and Option Agreement are hereby incorporated by reference, Purchaser has elected to purchase
                     of those shares of Common Stock which have not become vested under the vesting schedule set forth in the Option Agreement
(“Unvested Shares”). The Unvested Shares and the shares subject to the Option Agreement, which have become vested are sometimes collectively referred to herein as the “Shares.” 

B. As required by the Option Agreement, as a condition to Purchaser’s election to exercise the option, Purchaser
must execute this Agreement, which sets forth the rights and obligations of the parties with respect to Shares acquired upon exercise of the Option. 
 1. Repurchase Option. 
 (a) If
Purchaser’s status as a Service Provider is terminated for any reason, including for death and Disability, the Company shall have the right and option for ninety (90) days from such date to purchase from Purchaser, or Purchaser’s
personal representative, as the case may be, all of the Purchaser’s Unvested Shares as of the date of such termination at the price paid by the Purchaser for such Shares (the “Repurchase Option”). 

(b) Upon the occurrence of such termination, the Company may exercise its Repurchase Option by delivering
personally or by registered mail, to Purchaser (or his transferee or legal representative, as the case may be) with a copy to the escrow agent described in Section 2 below, a notice in writing indicating the Company’s intention to exercise
the Repurchase Option AND, at the Company’s option, (i) by delivering to the Purchaser (or the Purchaser’s transferee or legal representative) a check in the amount of the aggregate repurchase price, or (ii) by the Company
canceling an amount of the Purchaser’s indebtedness to the Company equal to the aggregate repurchase price, or (iii) by a combination of (i) and (ii) so that the combined payment and

 
cancellation of indebtedness equals such aggregate repurchase price. Upon delivery of such notice and payment of the aggregate repurchase price in any of the ways described above, the Company
shall become the legal and beneficial owner of the Unvested Shares being repurchased and the rights and interests therein or relating thereto, and the Company shall have the right to retain and transfer to its own name the number of Unvested Shares
being repurchased by the Company. 
 (c) Whenever the Company shall have the right to repurchase
Unvested Shares hereunder, the Company may designate and assign one or more employees, officers, directors or shareholders of the Company or other persons or organizations to exercise all or a part of the Company’s Repurchase Option under this
Agreement and purchase all or a part of such Unvested Shares. 
 (d) If the Company does not
elect to exercise the Repurchase Option conferred above by giving the requisite notice within ninety (90) days following the termination, the Repurchase Option shall terminate. 

(e) The Repurchase Option shall terminate in accordance with the vesting schedule contained in
Purchaser’s Option Agreement. 
 2. Transferability of the Shares; Escrow. 

(a) Purchaser hereby authorizes and directs the Secretary of the Company, or such other person designated
by the Company, to transfer the Unvested Shares as to which the Repurchase Option has been exercised from Purchaser to the Company. 
 (b) To insure the availability for delivery of Purchaser’s Unvested Shares upon repurchase by the Company pursuant to the Repurchase Option under Section 1, Purchaser hereby appoints the
Secretary, or any other person designated by the Company as escrow agent (the “Escrow Agent”), as its attorney-in-fact to sell, assign and transfer unto the Company, such Unvested Shares, if any, repurchased by the Company pursuant to the
Repurchase Option and shall, upon execution of this Agreement, deliver and deposit with the Escrow Agent, the share certificates representing the Unvested Shares, together with the stock assignment duly endorsed in blank, attached hereto as
Exhibit C-2. The Unvested Shares and stock assignment shall be held by the Escrow Agent in escrow, pursuant to the Joint Escrow Instructions of the Company and Purchaser attached as Exhibit C-3 hereto, until the Company exercises its
Repurchase Option, until such Unvested Shares are vested, or until such time as this Agreement no longer is in effect. Upon vesting of the Unvested Shares, the Escrow Agent shall promptly deliver to the Purchaser the certificate or certificates
representing such Shares in the Escrow Agent’s possession belonging to the Purchaser, and the Escrow Agent shall be discharged of all further obligations hereunder; provided, however, that the Escrow Agent shall nevertheless retain such
certificate or certificates as Escrow Agent if so required pursuant to other restrictions imposed pursuant to this Agreement. 
 (c) The Company nor the Escrow Agent shall be liable for any act it may do or omit to do with respect to holding the Shares in escrow and while acting in good faith and in the exercise of its judgment.

 (d) Transfer or sale of the Shares is subject to restrictions on transfer imposed by any
applicable state and federal securities laws. Any transferee shall hold such Shares subject to all 

  
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the provisions hereof and the Exercise Notice executed by the Purchaser with respect to any Unvested Shares purchased by Purchaser and shall acknowledge the same by signing a copy of this
Agreement. 
 3. Ownership, Voting Rights, Duties. This Agreement shall not affect in any way the
ownership, voting rights or other rights or duties of Purchaser, except as specifically provided herein. 
 4.
Legends. The share certificate evidencing the Shares issued hereunder shall be endorsed with the following legend (in addition to any legend required under applicable federal and state securities laws): 

THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS UPON TRANSFER AND RIGHTS OF REPURCHASE AS
SET FORTH IN AN AGREEMENT BETWEEN THE COMPANY AND THE STOCKHOLDER, A COPY OF WHICH IS ON FILE WITH THE SECRETARY OF THE COMPANY. 
 5. Adjustment for Stock Split. All references to the number of Shares and the purchase price of the Shares in this Agreement shall be appropriately adjusted to reflect any stock split, stock
dividend or other change in the Shares, which may be made by the Company pursuant to Section 13 of the Plan after the date of this Agreement. 
 6. Notices. Notices required hereunder shall be given in person or by registered mail to the address of Purchaser shown on the records of the Company, and to the Company at their respective
principal executive offices. 
 7. Survival of Terms. This Agreement shall apply to and bind Purchaser
and the Company and their respective permitted assignees and transferees, heirs, legatees, executors, administrators and legal successors. 
 8. Section 83(b) Election. Purchaser hereby acknowledges that he or she has been informed that, with respect to the exercise of the Option for Unvested Shares, an election (the
“Election”) may be filed by the Purchaser with the Internal Revenue Service, within 30 days of the purchase of the Shares, electing pursuant to Section 83(b) of the Code, to be taxed currently on any difference
between the purchase price of the Shares and their Fair Market Value on the date of purchase. Purchaser is strongly encouraged to seek the advice of his or her own tax consultants in connection with the purchase of the Shares and the advisability
of filing of the Election under Section 83(b) of the Code. A form of Election under Section 83(b) is attached hereto as Exhibit C-4 for reference. 

PURCHASER ACKNOWLEDGES THAT IT IS PURCHASER’S SOLE RESPONSIBILITY AND NOT THE COMPANY’S TO FILE TIMELY THE
ELECTION UNDER SECTION 83(b) OF THE CODE, EVEN IF PURCHASER REQUESTS THE COMPANY OR ITS REPRESENTATIVE TO MAKE THIS FILING ON PURCHASER’S BEHALF. 

  
 -3-

 9. Representations. Purchaser has reviewed with his own tax advisors
the federal, state, local and foreign tax consequences of this investment and the transactions contemplated by this Agreement. Purchaser is relying solely on such advisors and not on any statements or representations of the Company or any of its
agents. Purchaser understands that he (and not the Company) shall be responsible for his own tax liability that may arise as a result of this investment or the transactions contemplated by this Agreement. 

10. Governing Law. This Agreement shall be governed by the internal substantive laws, but not the choice of law
rules, of Texas. 
 Purchaser represents that he has read this Agreement and is familiar with its terms and
provisions. Purchaser hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Board upon any questions arising under this Agreement. 

IN WITNESS WHEREOF, this Agreement is deemed made as of the date first set forth above. 

 

									
	OPTIONEE	 		 	BAZAARVOICE, INC.
				
	 	 		 	By:	 	 
	Signature	 		 		 	
				
	 	 		 	Name:	 	 
	Print Name	 		 		 	
				
	 	 		 	Title:	 	 
	 	 		 		 	
	Residence Address	 		 		 	

 Dated:
                                         
               ,              

  
 -4-

 EXHIBIT C-2 

ASSIGNMENT SEPARATE FROM CERTIFICATE 
 FOR VALUE RECEIVED, the undersigned does hereby sell, assign and transfer unto Bazaarvoice, Inc., a Delaware corporation (the “Company”)
                                     shares of the Common
Stock of the Company standing in its name of the books of said corporation represented by Certificate No.              herewith and does hereby irrevocably constitute and
appoint                              to transfer the said stock on the books of the within named
corporation with full power of substitution in the premises. 
 This Stock Assignment may be used only in
accordance with the Restricted Stock Purchase Agreement between the Company and the undersigned dated             , 200     (the
“Agreement”). 

									
					
	Dated:	 	                             
           ,             	 		 	Signature:	 	 

 INSTRUCTIONS: Please do not fill in any blanks other than the signature line. The
purpose of this assignment is to enable the Company to exercise its “repurchase option,” as set forth in the Agreement, without requiring additional signatures on the part of the Purchaser. 

 EXHIBIT C-3 

JOINT ESCROW INSTRUCTIONS 
                                 ,
             
 Bazaarvoice, Inc. 

3900 N. Capital of Texas Hwy, Suite 300 
 Austin, Texas 78746 
 Attention: Director of Finance 

Dear Escrow Agent: 
 As Escrow Agent for both Bazaarvoice, Inc. (the “Company”) and the undersigned purchaser of stock of the Company (the “Purchaser”), you are hereby
authorized and directed to hold the documents delivered to you pursuant to the terms of that certain Restricted Stock Purchase Agreement (the “Agreement”) between the Company and the undersigned, in accordance with the
following instructions: 
 1. In the event the Company and/or any assignee of the Company (referred to
collectively for convenience herein as the “Company”) exercises the Company’s repurchase option set forth in the Agreement, the Company shall give to Purchaser and you a written notice specifying the number of shares of
stock to be purchased, the purchase price, and the time for a closing hereunder at the principal office of the Company. Purchaser and the Company hereby irrevocably authorize and direct you to close the transaction contemplated by such notice in
accordance with the terms of said notice. 
 2. At the closing, you are directed (a) to date the stock
assignments necessary for the transfer in question, (b) to fill in the number of shares being transferred, and (c) to deliver the stock assignments, together with the certificate evidencing the shares of stock to be transferred, to the
Company or its assignee, against the simultaneous delivery to you of the purchase price (by cash, a check, or some combination thereof) for the number of shares of stock being purchased pursuant to the exercise of the Company’s repurchase
option. 
 3. Purchaser irrevocably authorizes the Company to deposit with you any certificates evidencing
shares of stock to be held by you hereunder and any additions and substitutions to said shares as defined in the Agreement. Purchaser does hereby irrevocably constitute and appoint you as Purchaser’s attorney-in-fact and agent for the term of
this escrow to execute with respect to such securities all documents necessary or appropriate to make such securities negotiable and to complete any transaction herein contemplated, including but not limited to the filing with any applicable state
blue sky authority of any required applications for consent to, or notice of transfer of, the securities. Subject to the provisions of this paragraph 3, Purchaser shall exercise all rights and privileges of a stockholder of the Company while
the stock is held by you. 
 4. Upon written request of the Purchaser, but no more than once per calendar year,
unless the Company’s repurchase option has been exercised, you will deliver to Purchaser a certificate or certificates representing so many shares of stock as are not then subject to the Company’s repurchase option. Within 120 days after
cessation of Purchaser’s continuous 

 
employment by or services to the Company, or any parent or subsidiary of the Company, you will deliver to Purchaser a certificate or certificates representing the aggregate number of shares held
or issued pursuant to the Agreement and not purchased by the Company or its assignees pursuant to exercise of the Company’s repurchase option. 
 5. If at the time of termination of this escrow you should have in your possession any documents, securities, or other property belonging to Purchaser, you shall deliver all of the same to Purchaser and
shall be discharged of all further obligations hereunder. 
 6. Your duties hereunder may be altered, amended,
modified or revoked only by a writing signed by all of the parties hereto. 
 7. You shall be obligated only for
the performance of such duties as are specifically set forth herein and may rely and shall be protected in relying or refraining from acting on any instrument reasonably believed by you to be genuine and to have been signed or presented by the
proper party or parties. You shall not be personally liable for any act you may do or omit to do hereunder as Escrow Agent or as attorney-in-fact for Purchaser while acting in good faith, and any act done or omitted by you pursuant to the advice of
your own attorneys shall be conclusive evidence of such good faith. 
 8. You are hereby expressly authorized to
disregard any and all warnings given by any of the parties hereto or by any other person or corporation, excepting only orders or process of courts of law and are hereby expressly authorized to comply with and obey orders, judgments or decrees of
any court. In case you obey or comply with any such order, judgment or decree, you shall not be liable to any of the parties hereto or to any other person, firm or corporation by reason of such compliance, notwithstanding any such order, judgment or
decree being subsequently reversed, modified, annulled, set aside, vacated or found to have been entered without jurisdiction. 
 9. You shall not be liable in any respect on account of the identity, authorities or rights of the parties executing or delivering or purporting to execute or deliver the Agreement or any documents or
papers deposited or called for hereunder. 
 10. You shall not be liable for the outlawing of any rights under
the Statute of Limitations with respect to these Joint Escrow Instructions or any documents deposited with you. 

11. You shall be entitled to employ such legal counsel and other experts as you may deem necessary properly to advise you
in connection with your obligations hereunder, may rely upon the advice of such counsel, and may pay such counsel reasonable compensation therefor. 
 12. Your responsibilities as Escrow Agent hereunder shall terminate if you shall cease to be an officer or agent of the Company or if you shall resign by written notice to each party. In the event of any
such termination, the Company shall appoint a successor Escrow Agent. 
 13. If you reasonably require other or
further instruments in connection with these Joint Escrow Instructions or obligations in respect hereto, the necessary parties hereto shall join in furnishing such instruments. 

  
 -2-

 14. It is understood and agreed that should any dispute arise with respect
to the delivery and/or ownership or right of possession of the securities held by you hereunder, you are authorized and directed to retain in your possession without liability to anyone all or any part of said securities until such disputes shall
have been settled either by mutual written agreement of the parties concerned or by a final order, decree or judgment of a court of competent jurisdiction after the time for appeal has expired and no appeal has been perfected, but you shall be under
no duty whatsoever to institute or defend any such proceedings. 
 15. Any notice required or permitted
hereunder shall be given in writing and shall be deemed effectively given upon personal delivery or upon deposit in the United States Post Office, by registered or certified mail with postage and fees prepaid, addressed to each of the other parties
thereunto entitled at the addresses set forth in the Agreement or at such other addresses as a party may designate by ten days’ advance written notice to each of the other parties hereto. 

16. By signing these Joint Escrow Instructions, you become a party hereto only for the purpose of said Joint Escrow
Instructions; you do not become a party to the Agreement. 
 17. This instrument shall be binding upon and inure
to the benefit of the parties hereto, and their respective successors and permitted assigns. 
 18. These Joint
Escrow Instructions shall be governed by the internal substantive laws, but not the choice of law rules, of Texas. 
  

									
	PURCHASER	 		 	BAZAARVOICE, INC.
				
	 	 		 	By:	 	 
	Signature	 		 		 	
				
	 	 		 	Name:	 	 
	Print Name	 		 		 	
				
		 		 	Title:	 	 
			
	ESCROW AGENT	 		 	
				
	 	 		 		 	
	Signature	 		 		 	
				
	 	 		 		 	
	Print Name	 		 		 	

  
 -3-

 EXHIBIT C-4 

ELECTION UNDER SECTION 83(b) 
 OF THE INTERNAL REVENUE CODE OF 1986 
 The undersigned
taxpayer hereby elects, pursuant to Sections 55 and 83(b) of the Internal Revenue Code of 1986, as amended, to include in taxpayer’s gross income or alternative minimum taxable income, as the case may be, for the current taxable year the amount
of any compensation taxable to taxpayer in connection with taxpayer’s receipt of the property described below: 
  

	1.	 The name, address, taxpayer identification number and taxable year of the undersigned are as follows: 

 

					
	         NAME:
	  	
TAXPAYER:                            
             
	  	
SPOUSE:                            
                                 

	
	        ADDRESS:                  
                                         
                                         
                                         
                                    
			
	         IDENTIFICATION NO.:
	  	
TAXPAYER:                            
                 
	  	SPOUSE:                            
                             
	
	        TAXABLE YEAR:
                                         
                           

  

	2.	 The property with respect to which the election is made is described as follows:
             shares (the “Shares”) of the Common Stock of Bazaarvoice, Inc. (the “Company”). 

 

	3.	 The date on which the property was transferred is:
                                 ,
20            . 

  

	4.	 The property is subject to the following restrictions: The Shares may not be transferred and are subject to forfeiture under the terms of an
agreement between the taxpayer and the Company. These restrictions lapse upon the satisfaction of certain conditions contained in such agreement. 

  

	5.	 The fair market value at the time of transfer, determined without regard to any restriction other than a restriction which by its terms will never
lapse, of such property is: $
                                         
        

  

	6.	 The amount (if any) paid for such property is: $
                                         
        

 The undersigned has submitted a copy of this
statement to the person for whom the services were performed in connection with the undersigned’s receipt of the above-described property. The transferee of such property is the person performing the services in connection with the transfer of
said property. 
 The undersigned understands that the foregoing election may not be revoked except with the consent of the
Commissioner. 
  

									
	Dated:	 	                             
           , 20            	 		 	 
		 		 		 	Taxpayer

 The undersigned spouse of taxpayer joins in this election. 

 

									
	Dated:	 	                             
           , 20            	 		 	 
		 		 		 	Spouse of TaxpayerKey Executive Bonus Plan for Fiscal Year 2011

 Exhibit 10.9 

 
 [***]    Indicates that information has been omitted and
filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

KEY EXECUTIVE BONUS PLAN 
 FOR FISCAL YEAR 2011 
  
 Participant: 
  
  

Target Annual Executive Bonus Amount: 
  

 
 GENERAL TERMS 
  
 Bazaarvoice, Inc. (the “Company”) hereby adopts this Key Executive Bonus Plan (the “Plan”) as a means to
reward executive contributions through Company success and to drive and reward high individual performance. 
  

	 	1)	 	This Key Executive Bonus Plan is adopted for fiscal year 2011, running from May 1, 2010 to April 30, 2011, following which it expires.

  

	 	2)	 	This Key Executive Bonus Plan incorporates for each participant the following three elements for determining bonus entitlement: (i) the individual
participant’s target bonus amount based upon 100% achievement of defined goals (the “Goals”); (ii) the definition of the Goals; and (iii) the applicable weighting of the Goals. The elements of the Plan can be adjusted at the
discretion of the Board of Directors as business conditions from time to time dictate or for unusual or windfall events. 

  

	 	3)	 	The Bonus is not considered to have been earned and generally will not be paid until after the Company audit and GAAP certification of the Company’s fiscal year
books for the fiscal year. However, the Company may, within its discretion, advance the executive up to 40% of his/her Target Annual Executive Bonus after the second quarter of the fiscal year, based upon his/her level of achievement of the Goals.
In such instance, the amount advanced will be offset against the amount of Bonus determined to have been earned after the fiscal year is closed and audited. All bonus payments, including advances, are less applicable withholding.

  

	 	4)	 	Participants in the Plan must be employed by the Company on the date of payment to receive the Bonus. 

 

	 	5)	 	The Bonus will not be pro-rated for participants who separate from employment prior to the Bonus payment date, regardless of the reasons for the separation.

  

	 	6)	 	The target bonus amount and the Goals may be pro-rated, as the Company considers appropriate, for those participants hired after the start of a fiscal year and for
those participants who took an extended leave of absence during the fiscal year, as is consistent with applicable state and federal law. 

  

	 	7)	 	 Payment under the Key Executive Bonus Plan is contingent upon the Company’s fiscal year performance achieving either: (a) a minimum of 90% of
the target Net Bookings; or (b) a minimum of 90% of the target GAAP Revenue of the Corporate Performance Component. If neither minimum is met, there will be no Bonus earned or paid under either the Corporate Performance or Individual

	 	
Performance Component. Any exception to this requirement must be approved by the Board of Directors. 

 

	 	8)	 	Goals: 

  

The Bonus is dependent upon the achievement of certain Goals, as weighted and defined below: 

 

	 	i.	 	One-fifth (20%) of the Bonus will be based upon achievement of 100% of the pre-determined Company target Net Bookings for fiscal year 2011. If less than or greater
than 100% of the target bookings are achieved, the amount attributable to Bonus attainment with respect to this Goal will be reduced or increased in the proportion specified in the table below. 

 

	 	ii.	 	One-fifth (20%) of the Bonus will be issued provided 100% of the pre-determined Company target GAAP Revenue for fiscal year 2011 is achieved. If less than or
greater than 100% of the target revenue is achieved, the amount attributable to Bonus attainment with respect to this Goal will be reduced or increased in the proportion specified in the table below. 

 

	 	iii.	 	One-fifth (20%) of the Bonus will be issued provided 100% of the pre-determined Company target Annual Service Fee (ASF) retention for fiscal year 2011 is achieved.
If less than or greater than 100% of the target ASF retention are achieved, the amount attributable to Bonus attainment with respect to this Goal will be increased or reduced in the proportion specified in the table below. 

 

	 	iv.	 	One-fifth (20%) of the Bonus will be issued provided 100% of the pre-determined Company target EBITDA for fiscal year 2011 is achieved. If the actual EBITDA
exceeds or falls short of the specified target, the amount attributable to Bonus attainment with respect to this Goal will be increased or reduced in the proportion specified in the table below. 

 

	 	v.	 	One-fifth (20%) of the Bonus will be issued provided 100% of the pre-determined Company target Net Cash Use goal for fiscal year 2011 is achieved. If the actual
Net Cash Use exceeds or falls short of the specified goal, the amount attributable to Bonus attainment with respect to this Goal will be increased or reduced in the proportion specified in the table below. 

					
	 Plan Targets
	 	 Actual Performance
	 	 Bonus %

	Net Bookings	 	Less than 90%	 	0
	      90%
                        $ [***]	 	90%	 	65%
	    100%
                        $ [***]	 	91%	 	68%
	    110%
                        $ [***]	 	92%	 	71%
	Revenue	 	93%	 	74%
	      90%
                        $ 55,592,100	 	94%	 	77%
	    100%
                        $ 61,769,000	 	95%	 	80%
	    110%
                        $ 67,945,900	 	96%	 	84%
	ASF Retention	 	97%	 	88%
	      90%
                                  79.0%	 	98%	 	92%
	    100%
                                  87.8%	 	99%	 	96%
	    110%
                                  96.6%	 	100%	 	100%
	EBITDA	 	101%	 	105%
	      90%                     
    ($11,449,900)	 	102%	 	110%
	    100%
                        ($10,409,000)	 	103%	 	115%
	    110%
                        ($  9,368,100)	 	104%	 	120%
	Net Cash Use	 	105%	 	125%
	      90%
                        ($11,435,600)	 	106%	 	130%
	    100%
                        ($10,396,000)	 	107%	 	135%
	    110%
                        ($  9,356,400)	 	108%	 	140%
	 	 	109%	 	145%
	 	 	110%	 	150%

  

	 	9)	 	Definitions 

  

For purposes of this Executive Bonus Plan: 

 
 “Annual Service Fee (ASF) Retention” means the
amount of Live ASF the Company ends the year with, expressed as a % of live ASF we start the year with added to the ASF launched during the year. This is known internally as the ASF Retention Percentage. 

 
 “EBITDA” means Earnings Before Interest Tax
Depreciation and Amortization. It is essentially the Net operating performance of the company before entries that are more accounting focused rather than results driven by operational business decisions. 

 
 “GAAP Revenue” means Income Statement Revenue that
will be reported in the company’s financial statements in accordance with Generally Accepted Accounting Principles in the USA. 
  

“Net Bookings” means the incremental amount of Annualized Cumulative Bookings added during the year. 

 
 “Net Cash Use” means the amount of cash that the
Company spends, net of its cash receipts, before the impact of any borrowings. This is referred to in the Adaptive Planning system as the “Cash Burn.” 
  

 
 I have read, understood, and agree to the provisions of the Company’s
Key Executive Bonus Plan for Fiscal Year 2011. 
  

							
	 EMPLOYEE:    
	  		  		  	
	 Name:
	  	 	  		  	
	 Printed Name:
	  	 	  		  	
	 Date:

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