Document:

Form of Restricted Stock Award Agreement

 Exhibit 10.11 
 RED HAT, INC. 
 Red Hat, Inc. 2004 Long-Term Incentive Plan

 Restricted Stock Agreement 
 Cover Sheet 
 Red Hat, Inc., a Delaware corporation, hereby grants as of the date
below (the “Grant Date”) to the person named below (the “Participant”) and the Participant hereby accepts, the number of restricted shares (the “Restricted Stock”) listed below of the Company’s common stock, $.0001
par value per share, with a vesting start date (the “Vesting Start Date”) listed below, such grant to be on the terms and conditions specified in the Red Hat, Inc. 2004 Long-Term Incentive Plan and in the attached Exhibit A.

  

			
	Participant Name:	 	________________________
		
	Grant Date:	 	________________________
		
	Vesting Start Date:	 	________________________
		
	Number of Shares of Restricted Stock:	 	________________________

 IN WITNESS WHEREOF, the Company and the Participant have caused this instrument to be executed as of the Grant Date set
forth above. 
  

							
	  
	 		 	RED HAT, INC.
	(Participant Signature)	 		 	1801 Varsity Drive
		 		 	Raleigh, North Carolina 27606
	  
	 		 	
	(Street Address)	 		 	By:	 	 
		 		 	Name:	 	
	  
	 		 	Title:	 	
	 (City/State/Zip Code)
	 		 		 	

 EXHIBIT A 

RED HAT, INC. 
 Red Hat, Inc. 2004 Long-Term Incentive Plan 
 Restricted Stock Agreement

 Terms and Conditions 
 1. Grant under Red Hat, Inc. 2004 Long-Term Incentive Plan. The Restricted Stock is granted pursuant to and is subject to and governed by the Company’s 2004 Long-Term Incentive Plan
(the “Plan”) and, unless the context otherwise requires, terms used herein shall have the same meaning as in the Plan or shall be defined as on the cover sheet attached hereto. Determinations made in connection with the Restricted
Stock pursuant to the Plan shall be governed by the Plan as it exists on the Grant Date. 
 2. Vesting if Business Relationship
Continues. All of the shares of Restricted Stock initially shall be unvested shares. For so long as the Participant maintains continuous service to the Company or its subsidiaries or affiliates as an employee, officer, director or consultant
(a “Business Relationship”) throughout the period beginning on the Grant Date and ending on the vesting date set forth below, the Restricted Stock shall become vested according to the schedule set forth below, subject to
Section 3 hereof: 
  

			
	 Vesting Date
	  	 Number of Vested Shares

		
	 One year from the Vesting Start Date (the “Anniversary
 Date”)
	  	25% of the Restricted Stock
		
	On the last day of each subsequent three-month period following the Anniversary Date	  	6.25% of the Restricted Stock

  
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 Until the Restricted Stock vests, as provided in this Section and in Section 3, the Participant may not
sell, assign, transfer, pledge, or otherwise dispose of the Restricted Stock. 
 3. Termination of Business Relationship. If the
Participant’s Business Relationship is terminated for any reason, the shares of Restricted Stock that were not vested on the date of such termination will be forfeited. The shares of Restricted Stock that are forfeited will be cancelled and
returned to the Company. For purposes hereof, a Business Relationship shall not be considered as having terminated during any leave of absence if such leave of absence has been approved in writing by the Company; in the event of such leave of
absence, vesting of the Restricted Stock shall be suspended (and the period of the leave of absence shall be added to all vesting dates) unless otherwise determined by the Company. The vesting of the Restricted Stock shall not be affected by any
change in the type of Business Relationship the Participant has within or among the Company and its Subsidiaries or Affiliates so long as the Participant continuously maintains a Business Relationship. 

4. Legend. Each certificate issued in respect of shares of Restricted Stock under the Agreement shall be registered in the
Participant’s name and deposited by the Participant, together with a stock power endorsed in blank, with the Company and shall bear the following (or a similar) legend: 
 “The transferability of this certificate and the shares of stock represented hereby are subject to the terms and conditions (including forfeiture) contained in an Agreement entered into between the
registered owner and Red Hat, Inc.” 

  
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 When the Restricted Stock vests, the Company shall redeliver to the Participant (or the Participant’s
legal representatives, beneficiaries or heirs) from the shares of Restricted Stock deposited with it the number of shares which have then vested. The Participant agrees that any resale of the shares of Restricted Stock received upon vesting shall be
made in compliance with the registration requirements of the Securities Act of 1933 or an applicable exemption therefrom, including without limitation the exemption provided by Rule 144 promulgated thereunder (or any successor rule). 

5. No Obligation to Continue Business Relationship. Neither the Plan, this Agreement, nor the grant of the Restricted Stock imposes any
obligation on the Company, its Subsidiaries or Affiliates to have a Business Relationship with the Participant. 
 6. Rights as
Stockholder. Except for the restrictions on transfer and vesting provisions in this Agreement, the Participant shall have all of the rights of a stockholder of the Company with respect to the Restricted Stock including but not limited to the
right to receive dividends paid on the Restricted Stock and the right to vote the Restricted Stock. 
 7. Adjustments for Capital
Changes. The Plan contains provisions covering the treatment of restricted stock in a number of contingencies such as stock split and mergers. Provisions in the Plan for such adjustments are hereby made applicable hereunder and are
incorporated herein by reference. 
 8. Change in Control. Provisions regarding a Change in Control are set forth on Appendix A.

 9. Withholding. No Restricted Stock will be redelivered pursuant to the vesting thereof unless and until the Participant pays
to the Company, or makes satisfactory provision to the Company for payment of, any federal, state or local withholding taxes required by law to be held in respect of this Restricted Stock (the “Tax Amount”). The Participant hereby agrees
that the Company may withhold from the Participant’s wages or other remuneration the Tax Amount. At the discretion of the Company, the Tax Amount may be withheld in cash from such wages or from other remuneration, or in kind from the

  
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shares or other property otherwise deliverable to the Participant on vesting of this Restricted Stock. The Participant further agrees that, if the Company does not withhold an amount from the
Participant’s wages or other remuneration sufficient to satisfy the withholding obligation of the Company, the Participant agrees to indemnify the Company in full for the amount underwithheld and to make reimbursement on demand, in cash, for
the amount underwithheld within thirty (30) days after the vesting of the Restricted Stock that gives rise to the withholding obligation. The Participant has reviewed with the Participant’s own tax advisors the federal, state, local and
foreign tax consequences of this investment and the transactions contemplated by this Agreement. 
 The Participant is relying solely on such
advisors and not on any statements or representations of the Company or any of its agents. The Participant understands that the Participant (and not the Company) shall be responsible for the Participant’s own tax liability that may arise as a
result of this investment or the transactions contemplated by this Agreement. The Participant understands that it may be beneficial in many circumstances to elect to be taxed at the time the Restricted Stock is granted rather than when and as the
Restricted Stock vests by filing an election under Section 83(b) of the Code with the I.R.S. within 30 days from the date of grant. 

10. Lock-up Agreement. The Participant agrees that in the event that the Company effects an underwritten public offering of Shares
registered under the Securities Act, the Restricted Stock may not be sold, offered for sale or otherwise disposed of, directly or indirectly, without the prior written consent of the managing underwriter(s) of the offering, for such period of time
after the execution of an underwriting agreement in connection with such offering that all of the Company’s then directors and executive officers agree to be similarly bound. 
 11. Provision of Documentation to Participant. By executing this Agreement the Participant acknowledges receipt of a copy of this Agreement (including the cover sheet) and a copy of the
Plan. 

  
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 12. Miscellaneous. 

 

	 	(a)	Notices. All notices hereunder shall be in writing and shall be deemed given when sent by certified or registered mail, postage prepaid, return receipt
requested, if to the Participant, to the address set forth on the cover sheet or at the most recent address shown on the records of the Company, and if to the Company, to the Company’s principal office, attention of the Corporate Secretary.

  

	 	(b)	Entire Agreement; Modification. This Agreement (including the cover sheet) and the Plan constitutes the entire agreement between the parties relative to the
subject matter hereof, and supersedes all proposals, written or oral, and all other communications between the parties relating to the subject matter of this Agreement. This Agreement may be modified, amended or rescinded only by a written agreement
executed by both parties, except that if the Committee determines that the award terms could result in adverse tax consequences to the Participant, the Committee may amend this Agreement without the consent of the Participant in order to minimize or
eliminate such tax treatment. 

  

	 	(c)	Severability. The invalidity, illegality or unenforceability of any provision of this Agreement shall in no way affect the validity, legality or enforceability
of any other provision. 

  

	 	(d)	Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the heirs, legatees, distributees, executors and administrators of the
Participant and the successors and assigns of the Company. 

  

	 	(e)	Governing Law. This Agreement shall be governed by and interpreted in accordance with the laws of the Delaware, without giving effect to the principles of the
conflicts of laws thereof. 

  
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 APPENDIX A 
 Notwithstanding anything contained herein to the contrary, if (i) this grant of Restricted Stock is continued, assumed, converted or substituted for immediately following the Change in Control and
(ii) within one year after a Change in Control the Participant’s Business Relationship is terminated by the Company or its successor without Good Cause or by the Participant for Good Reason, all of the Restricted Stock shall be vested.
Furthermore and notwithstanding anything contained herein to the contrary, if this grant of Restricted Stock is not continued, assumed, converted or substituted for immediately following the Change in Control, all of the Restricted Stock shall be
treated as vested immediately prior to the Change in Control. This grant of Restricted Stock shall be considered to be continued, assumed, converted or substituted for: 
  

	(A)	if there is no change in the number of outstanding Shares and the Change in Control does not result from the consummation of a merger, consolidation, statutory share
exchange, reorganization or similar form of corporate transaction, there are no changes to the terms and conditions of this grant that materially and adversely affect this grant; or 

 

	(B)	if there is a change in the number of outstanding Shares and/or the Change in Control does result from the consummation of a merger, consolidation, statutory share
exchange, reorganization or similar form of corporate transaction: 

  

	 	(1)	 the number of shares of Restricted Stock is adjusted (x) if the Shares are exchanged solely for the common stock of the Parent Corporation or, if
there is no Parent Corporation, the Surviving Corporation (as such terms are defined in Appendix A) in a manner which is not materially less favorable than the adjustments made in such transaction to the other outstanding Shares, or
(y) otherwise, based on the ratio on the day immediately prior to the date of the Change in Control of the fair market value of one share of common 

	 	
stock of the Parent Corporation or, if there is no Parent Corporation, the Surviving Corporation, to the Fair Market Value of one Share, 

 

	 	(2)	if applicable, the shares of Restricted Stock are converted into the common stock of the Parent Corporation or, if there is no Parent Corporation, the Surviving
Corporation (as such terms are defined below) and 

  

	 	(3)	there are no other changes to the terms and conditions of this grant that materially and adversely affect this grant. 

For purposes of this Agreement: 

“Change in Control” means the occurrence of any one of the following events: 

 

	 	(i)	individuals who, on the Grant Date, constitute the Board (the “Incumbent Directors”) cease for any reason to constitute at least a majority of the Board,
provided that any person becoming a director subsequent to the initial public offering whose election or nomination for election was approved by a vote of at least a majority of the Directors then on the Board (either by a specific vote or by
approval of the proxy statement of the Company in which such person is named as a nominee for director, without written objection to such nomination) shall be an Incumbent Director; provided, however, that no individual initially
elected or nominated as a director of the Company as a result of an actual or threatened election contest with respect to directors or as a result of any other actual or threatened solicitation of proxies by or on behalf of any person other than the
Board shall be deemed to be an Incumbent Director; 

  

	 	(ii)	 any “person” (as such term is defined in the Exchange Act and as used in Sections 13(d)(3) and 14(d)(2) of the Exchange Act) is or becomes a
“beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of 

	 	
the Company representing 35% or more of the combined voting power of the Company’s then outstanding securities eligible to vote for the election of the Board (the “Company Voting
Securities”); provided, however, that the event described in this paragraph (ii) shall not be deemed to be a Change in Control by virtue of any of the following acquisitions: (A) by the Company or any subsidiary,
(B) by any employee benefit plan (or related trust) sponsored or maintained by the Company or any subsidiary, (C) by any underwriter temporarily holding securities pursuant to an offering of such securities, (D) pursuant to a
Non-Qualifying Transaction, as defined in paragraph (iii), or (E) by any person of Voting Securities from the Company, if a majority of the Incumbent Board approves in advance the acquisition of beneficial ownership of 35% or more of Company
Voting Securities by such person; 

  

	 	(iii)	 the consummation of a merger, consolidation, statutory share exchange, reorganization or similar form of corporate transaction involving the Company or
any of its subsidiaries that requires the approval of the Company’s stockholders, whether for such transaction or the issuance of securities in the transaction (a “Business Combination”), unless immediately following such Business
Combination: (A) more than 40% of the total voting power of (x) the corporation resulting from such Business Combination (the “Surviving Corporation”), or (y) if applicable, the ultimate parent corporation that directly or
indirectly has beneficial ownership of 100% of the voting securities eligible to elect directors of the Surviving Corporation (the “Parent Corporation”), is represented by Company Voting Securities that were outstanding immediately prior
to such Business Combination (or, if applicable, is represented by shares into which such Company Voting Securities were converted pursuant to such Business Combination), and such voting power among the holders thereof is in substantially the same
proportion as the voting power of such Company Voting Securities among the holders thereof immediately prior to the Business Combination, (B) no person (other than any employee benefit plan (or related trust) sponsored or maintained by the
Surviving Corporation or the Parent Corporation), is or becomes the beneficial owner, directly or indirectly, of 35% or more of the total voting power of the outstanding voting securities eligible to elect directors of the Parent Corporation (or, if
there is no Parent Corporation, the Surviving Corporation) and (C) at least half of the members of the board of directors of 

	 	
the Parent Corporation (or, if there is no Parent Corporation, the Surviving Corporation) following the consummation of the Business Combination were Incumbent Directors at the time of the
Board’s approval of the execution of the initial agreement providing for such Business Combination (any Business Combination which satisfies all of the criteria specified in (A), (B) and (C) above shall be deemed to be a
“Non-Qualifying Transaction”); 

  

	 	(iv)	the stockholders of the Company approve a plan of complete liquidation or dissolution of the Company or the consummation of a sale of all or substantially all of the
Company’s assets; or 

  

	 	(v)	the occurrence of any other event that the Board determines by a duly approved resolution constitutes a Change in Control. 

Notwithstanding the foregoing, a Change in Control shall not be deemed to occur solely because any person acquires beneficial ownership of more than 35%
of the Company Voting Securities as a result of the acquisition of Company Voting Securities by the Company which reduces the number of Company Voting Securities outstanding; provided, that if after such acquisition by the Company such
person becomes the beneficial owner of additional Company Voting Securities that increases the percentage of outstanding Company Voting Securities beneficially owned by such person, a Change in Control of the Company shall then occur. 

“Good Cause” means conduct involving one or more of the following: 

 

	 	(i)	the conviction of Participant, or plea of nolo contendere by the Participant to, a felony; 

 

	 	(ii)	the willful misconduct by Participant resulting in material harm to the Company; 

 

	 	(iii)	fraud, embezzlement, theft or dishonesty by Participant against the Company or any subsidiary or repeated and continued failure to perform Participant’s duties
with the Company after written notice of such failure to perform resulting in any case in material harm to the Company; or 

	 	(iv)	the Participant’s material breach of any term of confidentiality and/or non-competition agreements. 

“Good Reason” means: 
  

	 	(i)	a reduction by the Company or its successor of more than 10% in Participant’s rate of annual base salary as in effect immediately prior to such Change in Control;

  

	 	(ii)	a reduction by the Company or its successor of more than 10% of the Participant’s individual annual target bonus opportunity; 

 

	 	(iii)	a significant and substantial reduction of the Participant’s responsibilities and authority, as compared with the Participant’s responsibilities and authority
in effect immediately prior to the Change in Control or a material adverse change in Participant’s reporting relationship as compared with the Participant’s reporting relationship in effect immediately prior to the Change in Control; or

  

	 	(iv)	any requirement of the Company that Participant be based anywhere more than fifty (50) miles from Participant’s primary office location at the time of the
Change in Control and in a new office location that is a greater distance from Participant’s principal residence at the time of the Change in Control than the distance from Participant’s principal residence to the Participant’s
primary office location at the time of the Change in Control.Form of Non-Qualified Stock Option Agreement

 Exhibit 10.12 
 RED HAT, INC. 
 Red Hat, Inc. 2004 Long-Term Incentive Plan

 Non-Qualified Stock Option Agreement for Executive Employees  

Cover Sheet 
 Red
Hat, Inc., a Delaware corporation, hereby grants as of the date below (the “Grant Date”) to the person named below (the “Optionee”) and the Optionee hereby accepts, an option to purchase the number of shares (the “Option
Shares”) listed below of the Company’s common stock, $.0001 par value per share, at the exercise price per share and with a vesting start date (the “Vesting Start Date”) listed below, such option to be on the terms and conditions
specified in the Red Hat, Inc. 2004 Long-Term Incentive Plan and in the attached Exhibit A. 
  

			
	 Optionee Name:
	  	        **
	 Grant Date:
	  	        **
	 Vesting Start Date:
	  	        **
	 Number of Option Shares:
	  	        **
	 Exercise Price Per Share:
	  	$ **

 IN WITNESS WHEREOF, the Company and the Optionee have caused this instrument to be executed as of the Grant Date set
forth above. 
  

							
	  
	 		 	RED HAT, INC.
	(Optionee Signature)	 		 	1801 Varsity Drive
		 		 	Raleigh, North Carolina 27606
	  
	 		 	
	(Street Address)	 		 	By:	 	 
		 		 	Name:	 	
	  
	 		 	Title:	 	
	 (City/State/Zip Code)
	 		 		 	

 EXHIBIT A 
 RED HAT, INC. 
 Red Hat, Inc. 2004 Long-Term Incentive Plan

 Non-Qualified Stock Option Agreement for Executive Employees  

Terms and Conditions  
  

	1.	Grant under Red Hat, Inc. 2004 Long-Term Incentive Plan. This option is granted pursuant to and is subject to and governed by the Company’s 2004
Long-Term Incentive Plan (the “Plan”) and, unless the context otherwise requires, terms used herein shall have the same meaning as in the Plan or shall be defined as on the cover sheet attached hereto. Determinations made in connection
with this option pursuant to the Plan shall be governed by the Plan as it exists on the Grant Date. 

  

	2.	Grant as Non-Qualified Stock Option. This option is a non-qualified stock option and is not intended to qualify as an incentive stock option under
Section 422 of the Code. 

  

	3.	Vesting of Option if Business Relationship Continues. All of the Option Shares initially shall be unvested shares. For so long as the Optionee maintains
continuous service to the Company or its Subsidiaries or Affiliates as an employee, officer, director or consultant (a “Business Relationship”) throughout the period beginning on the Grant Date and ending on the vesting date set forth
below, the Option Shares shall become vested according to the schedule set forth below and the Optionee may exercise this option as to any vested shares, subject to Sections 4 and 5 hereof: 

 

			
	 Vesting Date
	  	 Number of Vested

Shares

	One year from the Vesting Start Date (the “Anniversary Date”)	  	25% of the Option Shares
		
	 On the last day of each subsequent three-month period following
 the Anniversary Date
	  	6.25% of the Option Shares

  
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 Notwithstanding the foregoing, the Committee may, in its discretion, accelerate the date that any
installment of this option becomes exercisable; provided that no installment of the option shall vest prior to the Anniversary Date. The foregoing rights are cumulative and (subject to Sections 4 or 5 hereof if the Optionee ceases to have a Business
Relationship) may be exercised only before the date (the “Final Exercise Date”) which is five years from the Grant Date. 
  

	4.	Termination of Business Relationship. 

  

	 	(a)	Termination Other Than for Good Cause. If the Optionee ceases to maintain a Business Relationship, other than by reason of death or disability as defined in
Section 5 or termination by the Company for Good Cause (as defined in Section 4(c)), no further installments of this option shall become exercisable, and this option shall expire (may no longer be exercised) after the passage of three
months from the termination of the Optionee’s Business Relationship, but in no event later than the Final Exercise Date. For purposes hereof, a Business Relationship shall not be considered as having terminated during any leave of absence if
such leave of absence has been approved in writing by the Company; in the event of such leave of absence, vesting of this option shall be suspended (and the period of the leave of absence shall be added to all vesting dates) unless otherwise
determined by the Company. This option shall not be affected by any change in the type of Business Relationship the Optionee has within or among the Company and its Subsidiaries or Affiliates so long as the Optionee continuously maintains a Business
Relationship. 

  

	 	(b)	Termination for Good Cause. If the Business Relationship of the Optionee is terminated by the Company for Good Cause (as defined in Section 4(c)), this
option shall expire (that is, may no longer be exercised) and shall thereafter not be exercisable to any extent whatsoever. 

  

	 	(c)	Definition of Good Cause. “Good Cause” shall mean conduct involving one or more of the following: 

(i) the conviction of Optionee of, or plea of nolo contendere by the Optionee to, a felony; 

  
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 (ii) the willful misconduct by Optionee resulting in material harm to the Company;

 (iii) fraud, embezzlement, theft or dishonesty by Optionee against the Company or any subsidiary or repeated and continuing
failure to substantially perform Participant’s duties with the Company after written notice of such failure to perform resulting in any case in material harm to the Company; or 

(iv) the Optionee’s material breach of any term of confidentiality and/or non-competition agreements with the Company. 

 

	5.	Death; Disability. 

  

	 	(a)	Death. If the Optionee dies while maintaining a Business Relationship, this option may be exercised, to the extent otherwise exercisable on the date of his or
her death, by the Optionee’s estate, personal representative or beneficiary to whom this option has been transferred pursuant to Section 9, only at any time within one (1) year after the date of death, but not later than the Final
Exercise Date. 

	 	(b)	Disability. If the Optionee’s Business Relationship is terminated by reason of his or her disability, this option may be exercised, to the extent otherwise
exercisable on the date of cessation of the Business Relationship, only at any time within 180 days after such cessation of the Business Relationship, but not later than the Final Exercise Date. For purposes hereof, “disability” means
“permanent and total disability” as defined in Section 22(e)(3) of the Code. 

  

	6.	Partial Exercise. This option may be exercised in part at any time and from time to time within the above limits, except that this option may not be
exercised for a fraction of a share. 

  

	7.	Payment of Exercise Price. 

  

	 	(a)	Payment Options. The exercise price shall be paid by one or any combination of the following forms of payment that are applicable to this option:

  

	 	(i)	in cash, or by check payable to the order of the Company; or 

  
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	 	(ii)	delivery of an irrevocable and unconditional undertaking, satisfactory in form and substance to the Company, by a creditworthy broker to deliver promptly to the Company
sufficient funds to pay the exercise price, or delivery by the Optionee to the Company of a copy of irrevocable and unconditional instructions, satisfactory in form and substance to the Company, to a creditworthy broker to deliver promptly to the
Company cash or a check sufficient to pay the exercise price; or 

  

	 	(iii)	subject to Section 7(b) below and in accordance with procedures established by the Committee, provided the Shares are then traded on a national securities exchange
or on the Nasdaq Stock Market (or successor trading system), by delivery of Shares having a Fair Market Value equal as of the date of exercise to the exercise price. 

 

	 	(i)	Limitations on Payment by Delivery of Shares. The Optionee may not pay any part of the exercise price hereof by transferring Shares to the Company unless such
Shares have been owned by the Optionee free of any substantial risk of forfeiture for at least six months. 

  

	8.	Method of Exercising Option. Subject to the terms and conditions of this Agreement, this option may be exercised by written notice to the Company or to
such transfer agent as the Company shall designate. Such notice shall state the election to exercise this option and the number of Option Shares for which it is being exercised and shall be signed by the person or persons so exercising this option.
Such notice shall be accompanied by payment of the full exercise price of such shares or evidence of satisfaction of the alternative payment methods set forth on Section 7, and the Company shall deliver a certificate or certificates
representing such Shares as soon as practicable after the notice shall be received. Such certificate or certificates shall be registered in the name of the person or persons so exercising this option (or, if this option shall be exercised by the
Optionee and if the Optionee shall so request in the notice exercising this option, shall be registered in the name of the Optionee and another person jointly, with right of survivorship). In the event this option shall be exercised, pursuant to
Section 5 hereof, by any person or persons other than the Optionee, such notice shall be accompanied by appropriate proof of the right of such person or persons to exercise this option. 

  
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	9.	Option Not Transferable. This option is not transferable or assignable except by will or by the laws of descent and distribution. During the
Optionee’s lifetime only the Optionee can exercise this option. 

  

	10.	No Obligation to Exercise Option. The grant and acceptance of this option imposes no obligation on the Optionee to exercise it. 

 

	11.	No Obligation to Continue Business Relationship. Neither the Plan, this Agreement, nor the grant of this option imposes any obligation on the Company, its
Subsidiaries or Affiliates to have a Business Relationship with the Optionee. 

  

	12.	No Rights as Stockholder until Exercise. The Optionee shall have no rights as a stockholder with respect to the Option Shares until such time as the
Optionee has exercised this option by delivering a notice of exercise and has paid in full the purchase price for the shares so exercised in accordance with Section 8. Except as is expressly provided in the Plan with respect to certain changes
in the capitalization of the Company, no adjustment shall be made for dividends or similar rights for which the record date is prior to such date of exercise. 

 

	13.	Adjustment for Capital Changes. The Plan contains provisions covering the treatment of options in a number of contingencies such as stock split and
mergers. Provisions in the Plan for such adjustment are hereby made applicable hereunder and are incorporated herein by reference. 

  

	14.	Change in Control. Provisions regarding a Change in Control are set forth on Appendix A. 

 

	15.	Withholding. No shares will be issued pursuant to the exercise of this option unless and until the Optionee pays to the Company, or makes satisfactory
provision to the Company for payment of, any federal, state or local withholding taxes required by law to be withheld in respect of this option (the “Tax Amount”). The Optionee hereby agrees that the Company may withhold from the
Optionee’s wages or other remuneration the Tax Amount. At the discretion of the Company, the Tax Amount may be withheld in cash from such wages or from other remuneration, or in kind from the Shares or other property otherwise deliverable to

  
 -5-

	 	
the Optionee on exercise of this option. The Optionee further agrees that, if the Company does not withhold an amount from the Optionee’s wages or other remuneration sufficient to satisfy
the withholding obligation of the Company, the Optionee agrees to indemnify the Company in full for the amount underwithheld and to make reimbursement on demand, in cash, for the amount underwithheld within thirty (30) days after the exercise
of the option that gives rise to the withholding obligation. 

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

  

	16.	Lock-up Agreement. The Optionee agrees that in the event that the Company effects an underwritten public offering of Shares registered under the
Securities Act, the Option Shares may not be sold, offered for sale or otherwise disposed of, directly or indirectly, without the prior written consent of the managing underwriter(s) of the offering, for such period of time after the execution of an
underwriting agreement in connection with such offering that all of the Company’s then directors and optionee officers agree to be similarly bound. 

  

	17.	Provision of Documentation to Optionee. By executing this Agreement the Optionee acknowledges receipt of a copy of this Agreement (including the cover
sheet) and a copy of the Plan. 

  

	18.	Miscellaneous. 

  

	 	(a)	Notices. All notices hereunder shall be in writing and shall be deemed given when sent by certified or registered mail, postage prepaid, return receipt
requested, if to the Optionee, to the address set forth on the cover sheet or at the most recent address shown on the records of the Company, and if to the Company, to the Company’s principal office, attention of the Corporate Secretary.

  

	 	(b)	Fractional Shares. If this option becomes exercisable for a fraction of a share because of the adjustment provisions contained in the Plan, such fraction shall
be rounded down to the nearest whole share. 

  
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	 	(c)	Entire Agreement; Modification. This Agreement (including the cover sheet) and the Plan constitutes the entire agreement between the parties relative to the
subject matter hereof, and supersedes all proposals, written or oral, and all other communications between the parties relating to the subject matter of this Agreement. This Agreement may be modified, amended or rescinded only by a written agreement
executed by both parties, except that (i) to the extent there would not be adverse accounting consequences to the Company or adverse tax consequences to the Optionee under Section 409A of the Code, the Committee may amend this Agreement
without the consent of the Optionee, to provide for the settlement of any exercise of this option (in whole or in part) by delivering Shares, the Fair Market Value of which is equal to the increase in the Fair Market Value of the Option Shares on
the exercise date of the option over the aggregate exercise price of such Option Shares, and (ii) if the Committee determines that the award terms could result in adverse tax consequences to the Optionee, the Committee may amend this Agreement
without the consent of the Optionee in order to minimize or eliminate such tax treatment. 

  

	 	(d)	Severability. The invalidity, illegality or unenforceability of any provision of this Agreement shall in no way affect the validity, legality or enforceability
of any other provision. 

  

	 	(e)	Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns, subject
to the limitations set forth in Section 9 hereof. 

  

	 	(f)	Governing Law. This Agreement shall be governed by and interpreted in accordance with the laws of the Delaware, without giving effect to the principles of the
conflicts of laws thereof. 

  
 -7-

 APPENDIX A 
 For Executive Employee Agreements 
 Notwithstanding anything contained herein to the
contrary, if (i) this option is continued, assumed, converted or substituted for immediately following the Change in Control and (ii) within one year after a Change in Control the Optionee’s Business Relationship is terminated by the
Company or its successor without Good Cause or by the Optionee for Good Reason, all of the Option Shares shall be vested and this option may be exercised at any time within 12 months following such termination, but not later than the Final Exercise
Date. Furthermore and notwithstanding anything contained herein to the contrary, if this option is not continued, assumed, converted or substituted for immediately following the Change in Control, the Optionee shall receive a lump sum cash payment
within 30 days after the Change in Control in an amount equal to the result of multiplying the Option Shares which have not been exercised by the difference between (x) the Fair Market Value of one Share on the day immediately preceding the
Change in Control and (y) the per share exercise price of the option. This option shall be considered to be continued, assumed, converted or substituted for: 
  

	 	(A)	if there is no change in the number of outstanding Shares and the Change in Control does not result from the consummation of a merger, consolidation, statutory share
exchange, reorganization or similar form of corporate transaction, there are no changes to the terms and conditions of this option that materially and adversely affect this option, including the number of Option Shares and the exercise price of the
option; or 

  

	 	(B)	if there is a change in the number of outstanding Shares and/or the Change in Control does result from the consummation of a merger, consolidation, statutory share
exchange, reorganization or similar form of corporate transaction: (1) the Option Shares and the exercise price of the option are adjusted in a manner which is not materially less favorable than as provided under Section 424(a) of the Code
and regulations thereunder, (2) if applicable, the Option Shares are converted into the common stock of the Parent Corporation or, if there is no Parent Corporation, the Surviving Corporation (as such terms are defined below), and
(3) there are no other changes to the terms and conditions of this option that materially and adversely affect this option. 

 For purposes of this Agreement: 
 “Change in Control” means the occurrence of any one of the following events: 
 (i) individuals who, on the Grant Date, constitute the Board (the “Incumbent Directors”) cease for any reason to constitute at least a majority of the Board, provided that any person becoming a
director subsequent to the initial public offering whose election or nomination for election was approved by a vote of at least a majority of the Directors then on the Board (either by a specific vote or by approval of the proxy statement of the
Company in which such person is named as a nominee for director, without written objection to such nomination) shall be an Incumbent Director; provided, however, that no individual initially elected or nominated as a director of the
Company as a result of an actual or threatened election contest with respect to directors or as a result of any other actual or threatened solicitation of proxies by or on behalf of any person other than the Board shall be deemed to be an Incumbent
Director; 
 (ii) any “person” (as such term is defined in the Exchange Act and as used in Sections 13(d)(3) and
14(d)(2) of the Exchange Act) is or becomes a “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing 35% or more of the combined voting power of the
Company’s then outstanding securities eligible to vote for the election of the Board (the “Company Voting Securities”); provided, however, that the event described in this paragraph (ii) shall not be deemed to be a
Change in Control by virtue of any of the following acquisitions: (A) by the Company or any subsidiary, (B) by any employee benefit plan (or related trust) sponsored or maintained by the Company or any subsidiary, (C) by any
underwriter temporarily holding securities pursuant to an offering of such securities, (D) pursuant to a Non-Qualifying Transaction, as defined in paragraph (iii), or (E) by any person of Voting Securities from the Company, if a majority
of the Incumbent Board approves in advance the acquisition of beneficial ownership of 35% or more of Company Voting Securities by such person; 
 (iii) the consummation of a merger, consolidation, statutory share exchange, reorganization or similar form of corporate transaction involving the Company or any of its subsidiaries that requires the
approval of the Company’s stockholders, whether for such transaction or the issuance of securities in the transaction (a “Business Combination”), unless immediately following such Business Combination: (A) more than 40% of the
total voting power of (x) the corporation resulting 

 
from such Business Combination (the “Surviving Corporation”), or (y) if applicable, the ultimate parent corporation that directly or indirectly has beneficial ownership of 100% of
the voting securities eligible to elect directors of the Surviving Corporation (the “Parent Corporation”), is represented by Company Voting Securities that were outstanding immediately prior to such Business Combination (or, if applicable,
is represented by shares into which such Company Voting Securities were converted pursuant to such Business Combination), and such voting power among the holders thereof is in substantially the same proportion as the voting power of such Company
Voting Securities among the holders thereof immediately prior to the Business Combination, (B) no person (other than any employee benefit plan (or related trust) sponsored or maintained by the Surviving Corporation or the Parent Corporation),
is or becomes the beneficial owner, directly or indirectly, of 35% or more of the total voting power of the outstanding voting securities eligible to elect directors of the Parent Corporation (or, if there is no Parent Corporation, the Surviving
Corporation) and (C) at least half of the members of the board of directors of the Parent Corporation (or, if there is no Parent Corporation, the Surviving Corporation) following the consummation of the Business Combination were Incumbent
Directors at the time of the Board’s approval of the execution of the initial agreement providing for such Business Combination (any Business Combination which satisfies all of the criteria specified in (A), (B) and (C) above shall be
deemed to be a “Non-Qualifying Transaction”); 
 (iv) the stockholders of the Company approve a plan of
complete liquidation or dissolution of the Company or the consummation of a sale of all or substantially all of the Company’s assets; or 
 (v) the occurrence of any other event that the Board determines by a duly approved resolution constitutes a Change in Control. 
 Notwithstanding the foregoing, a Change in Control shall not be deemed to occur solely because any person acquires beneficial ownership of more than 35% of the Company Voting Securities as a result of the
acquisition of Company Voting Securities by the Company which reduces the number of Company Voting Securities outstanding; provided, that if after such acquisition by the Company such person becomes the beneficial owner of additional
Company Voting Securities that increases the percentage of outstanding Company Voting Securities beneficially owned by such person, a Change in Control of the Company shall then occur. 

 “Good Cause” is as defined in Section 4(c). 

“Good Reason” means: 
 (i) a reduction by the Company or its successor of more than 10% in Optionee’s rate of annual base salary as in effect immediately prior to such Change in Control; 

(ii) a reduction by the Company or its successor of more than 10% of the Optionee’s individual annual target bonus opportunity;

 (iii) a significant and substantial reduction of the Optionee’s responsibilities and authority, as compared with the
Optionee’s responsibilities and authority in effect immediately prior to the Change in Control, or a material adverse change in Optionee’s reporting relationship as compared with the Optionee’s reporting relationship in effect
immediately prior to the Change in Control; or 
 (iv) any requirement of the Company that Optionee be based anywhere more than
fifty (50) miles from Optionee’s primary office location at the time of the Change in Control and in a new office location that is a greater distance from Optionee’s principal residence at the time of the Change in Control than the
distance from Optionee’s principal residence to the Optionee’s primary office location at the time of the Change in Control.

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