Document:

Grant
No.: _____

     

    THE
KEYW HOLDING CORPORATION

    2009
STOCK INCENTIVE PLAN

     

    RESTRICTED
STOCK AGREEMENT

     

    The KEYW
Holding Corporation, a Maryland corporation (the “Company”), hereby grants
shares of its common stock (the “Stock”), to the Grantee named below, subject to
the vesting conditions set forth in the attachment.  Additional terms and
conditions of the grant are set forth in this cover sheet and in the attachment
(collectively, the “Agreement”) and in the Company’s 2009 Stock Incentive Plan
(the “Plan”).

     

    Grant
Date:  _____________

     

    Name of
Grantee: _____________

     

    Grantee's
Identification Number:  ______________

     

    Number of
Shares of Stock Covered by Grant:  ________

     

    Purchase
Price per Share of Stock:  $____________

     

    Vesting
Schedule:

     

    By
signing this cover sheet, you agree to all of the terms and conditions described
in this Agreement and in the Plan, a copy of which is also
attached.  You acknowledge that you have carefully reviewed the Plan,
and agree that the Plan will control in the event any provision of this
Agreement should appear to be inconsistent  Certain capitalized terms
used in this Agreement are defined in the Plan, and have the meaning set forth
in the Plan.

     

    
      
        
          
            
              	
                      Grantee:

                    	 
      
	 
      	
                      (Signature)

                    
	 
      	 
      
	
                      Company: 

                    	 
      
	 
      	
                      (Signature)

                    
	 
      	 
      	 
      
	 
      	
                      Title: 

                    	 
      

            

          

        

      

    

     

    Attachment

     

    This is not a stock certificate or a
negotiable instrument. 
 

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    THE
KEYW HOLDING CORPORATION

    2009
STOCK INCENTIVE PLAN

     

    RESTRICTED
STOCK AGREEMENT

     

    
      
        
          
            
              
                	
                        Restricted
      Stock/

                        Nontransferability

                      	
                        This
      grant is an award of Stock in the number of shares set forth on the cover
      sheet, at the purchase price set forth on the cover sheet, and subject to
      the vesting conditions described below ("Restricted Stock").  To
      the extent not yet vested, your Restricted Stock may not be transferred,
      assigned, pledged or hypothecated, whether by operation of law or
      otherwise, nor may the Restricted Stock be made subject to execution,
      attachment or similar process.

                      
	 	 
	
                        Vesting

                      	
                        The
      Company will issue your Restricted Stock in your name as of the Grant
      Date.
 

                        Your
      right to the Stock under this Restricted Stock Agreement vests per the
      vesting schedule as shown on the cover sheet provided you then continue in
      Service.  The resulting aggregate number of vested shares of
      Stock will be rounded to the nearest whole number, and you cannot vest in
      more than the number of shares covered by this
      grant.
 

                        No
      additional shares of Stock will vest after your Service has terminated for
      any reason, provided, however, that
      if your Service is terminated on account of your death or Disability, any
      unvested shares of Stock will become fully vested.

                      
	 	 
	
                        Forfeiture
      of Unvested

                        Stock

                      	
                        Except
      as provided in this Agreement, in the event that your Service terminates
      for any reason, you will forfeit to the Company all of the shares of Stock
      subject to this grant that have not yet vested.

                      
	 	 
	
                        Issuance

                      	
                        The
      issuance of the Stock under this grant shall be evidenced in such a manner
      as the Company, in its discretion, will deem appropriate, including,
      without limitation, book-entry, registration or issuance of one or more
      Stock certificates, with any unvested Restricted Stock bearing the
      appropriate restrictions imposed by this Agreement.  As your
      interest in the Stock vests as described above, the recordation of the
      number of shares of Restricted Stock attributable to you will be
      appropriately modified.  To the extent certificates are issued
      with regard to unvested Stock, such certificates will be held in escrow
      with the Secretary of the Company while the Stock remains
      unvested.

                      

              

            

          

        

      

    
 

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    
      
        
          
            	
                    Withholding
      Taxes

                  	
                    You
      agree, as a condition of this grant, that you will make acceptable
      arrangements, as determined by the Company in its sole discretion, to pay
      any withholding or other taxes that may be due as a result of the payment
      of dividends or the vesting of Stock acquired under this
      grant.  In the event that the Company determines that any
      federal, state, local or foreign tax or withholding payment is required
      relating to the payment of dividends or the vesting of shares arising from
      this grant, the Company shall have the right to require such payments from
      you, or withhold such amounts from other payments due to you from the
      Company or any Affiliate (including by repurchasing vested shares of Stock
      under this Agreement).

                  
	 	 
	
                    Section
      83(b)

                    Election

                  	
                    Under
      Section 83 of the Internal Revenue Code of 1986, as amended (the "Code"),
      the difference between the purchase price paid for the shares of Stock and
      their fair market value on the date any forfeiture restrictions applicable
      to such shares lapse will be reportable as ordinary income at that
      time.  For this purpose, "forfeiture restrictions" include the
      forfeiture as to unvested Stock described above.  You may elect
      to be taxed at the time the shares are acquired, rather than when such
      shares cease to be subject to such forfeiture restrictions, by filing an
      election under Section 83(b) of the Code with the Internal Revenue Service
      within thirty (30) days after the Grant Date.  You will have to
      make a tax payment to the extent the purchase price is less than the fair
      market value of the shares on the Grant Date.  No tax payment
      will have to be made to the extent the purchase price is at least equal to
      the fair market value of the shares on the Grant Date.  The form
      for making this election is attached as Exhibit A hereto.  Failure to
      make this filing within the thirty (30) day period will result in the
      recognition of ordinary income by you (in the event the fair market value
      of the shares as of the vesting date exceeds the purchase price) as the
      forfeiture restrictions lapse.
 

                    YOU
      ACKNOWLEDGE THAT IT IS YOUR SOLE RESPONSIBILITY, AND NOT THE COMPANY'S, TO
      FILE A TIMELY ELECTION UNDER SECTION 83(b), EVEN IF YOU REQUEST THE
      COMPANY OR ITS REPRESENTATIVES TO MAKE THIS FILING ON YOUR
      BEHALF.  YOU ARE RELYING SOLELY ON YOUR OWN ADVISORS WITH
      RESPECT TO THE DECISION AS TO WHETHER OR NOT TO FILE ANY 83(b)
      ELECTION.

                  

          

        

      

    
 

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    
      
        
          	
                  Market
      Stand-off

                  Agreement

                	
                  In
      connection with any underwritten public offering by the Company of its
      equity securities pursuant to an effective registration statement filed
      under the Securities Act of 1933 (the "Securities Act"), including the
      Company’s initial public offering, you agree not to sell, make any short
      sale of, loan, hypothecate, pledge, grant any option for the purchase of,
      or otherwise dispose or transfer for value or agree to engage in any of
      the foregoing transactions with respect to any shares of vested Stock
      without the prior written consent of the Company or its underwriters, for
      such period of time after the effective date of such registration
      statement as may be requested by the Company or the underwriters (not to
      exceed 180 days in length).

                
	 	 
	
                  Investment
      Representation

                	
                  You
      hereby agree and represent, as a condition of this grant of Restricted
      Stock, that (i) you are acquiring the shares of Restricted Stock for
      investment for your own account and not with a view to, or intention of,
      or otherwise for resale in connection with, any distribution to any person
      or entity, (ii) neither the offer nor sale of the shares of
      Restricted Stock hereunder, or the shares of Restricted Stock themselves,
      have been registered under the Securities Act or registered or qualified
      under any applicable state securities laws and that the shares of
      Restricted Stock are being offered and sold to you by reason of and in
      reliance upon a specific exemption from the registration provisions of the
      Securities Act and exemptions from registration or qualification
      provisions of such applicable state or other jurisdiction's securities
      laws which depend upon, among other things, the bona fide nature of the
      investment intent as expressed herein and the truth and accuracy of your
      representations, warranties, agreements, acknowledgments and
      understandings as set forth herein, (iii) no public market now exists for
      any of the securities issued by the Company and that there can be no
      assurance that a public market will ever exist for the shares of
      Restricted Stock, (iv) you must, and are able to, bear the economic risk
      of your investment in the shares of Restricted Stock for an indefinite
      period of time and can afford a complete loss of your investment in the
      shares of Restricted Stock, (v) you are sophisticated in financial matters
      and have such knowledge and experience in financial and business matters
      as to be capable of evaluating the risks and benefits of your investment
      in the shares of Restricted Stock, (vi) your principal place of residence
      is in the State of ___________, (vii) you are as of the date hereof
      an "accredited investor" as such term is defined under Rule 501 of the
      Securities Act, and (viii) the Company has made available to you all
      documents that you have requested relating to the Company, the shares of
      Restricted Stock and your purchase of the shares of Restricted Stock, and
      you have had an opportunity to ask questions and receive answers
      concerning the Company and the terms and conditions of the offering and
      sale of the shares of Restricted Stock pursuant to this Restricted Stock
      Agreement and have had full access to such other information concerning
      the Company and the shares of Restricted Stock as you deemed necessary or
      desirable.

                

        

      

    
 

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    
      
        	
                The
      Company's Right of

                First
      Refusal

              	
                In
      the event that you propose to sell, pledge or otherwise transfer to a
      third party any vested Stock acquired under this Agreement, or any
      interest in such Stock, the Company shall have the “Right of First
      Refusal” with respect to all (and not less than all) of such shares of
      Stock.  If you desire to transfer vested Stock acquired under
      this Agreement, you must give a written “Transfer Notice” to the Company
      describing fully the proposed transfer, including the number of shares
      proposed to be transferred, the proposed transfer price and the name and
      address of the proposed transferee.
 

                The
      Transfer Notice shall be signed both by you and by the proposed new
      transferee and must constitute a binding commitment of both parties to the
      transfer of the shares.  The Company shall have the right to
      purchase all, and not less than all, of the shares of Stock on the terms
      of the proposal described in the Transfer Notice (subject, however, to any
      change in such terms permitted in the next paragraph) by delivery of a
      notice of exercise of the Right of First Refusal within thirty (30) days
      after the date when the Transfer Notice was received by the
      Company.
 

                If
      the Company fails to exercise its Right of First Refusal within thirty
      (30) days after the date when it received the Transfer Notice, you may,
      not later than ninety (90) days following receipt of the Transfer Notice
      by the Company, conclude a transfer of the Stock subject to the Transfer
      Notice on the terms and conditions described in the Transfer
      Notice.  Any proposed transfer on terms and conditions different
      from those described in the Transfer Notice, as well as any subsequent
      proposed transfer by you, shall again be subject to the Right of First
      Refusal and shall require compliance with the procedure described in the
      paragraph above.  If the Company exercises its Right of First
      Refusal, the parties shall consummate the sale of the Stock on the terms
      set forth in the Transfer Notice within sixty (60) days after the date
      when the Company received the Transfer Notice (or within such longer
      period as may have been specified in the Transfer Notice); provided,
      however, that in the event the Transfer Notice provided that payment for
      the Stock was to be made in a form other than lawful money paid at the
      time of transfer, the Company shall have the option of paying for the
      Stock with lawful money equal to the present value of the consideration
      described in the Transfer
Notice.

              

      

    
 

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    
      
        
          
            	 
      	
                    In
      the case of any purchase of Stock under this Right of First Refusal, at
      the option of the Company, the Company may pay you the purchase price in
      three or fewer annual installments.  Interest shall be credited
      on the installments at the applicable federal rate (as determined for
      purposes of Section 1274 of the Code) in effect on the date on which
      the purchase is made.  The Company shall pay at least one-third
      of the total purchase price each year, plus interest on the unpaid
      balance, with the first payment being made on or before the 60th
      day after the purchase.
 

                    The
      Company’s rights under this subsection shall be freely assignable, in
      whole or in part, shall inure to the benefit of its successors and assigns
      and shall be binding upon any transferee of the shares of
      Stock.
 

                    The
      Company’s Right of First Refusal shall terminate if the Stock is listed on
      an established national or regional stock exchange, is admitted for
      quotation on The Nasdaq Stock Market, Inc., or is publicly traded in an
      established securities market.

                  
	 	 
	
                    Repurchase
      Option for

                    Vested
      Stock

                  	
                    In
      the event that your Service terminates for any reason, the Company shall
      have the option to purchase all of those shares of vested Stock that you
      have.  The Company will notify you of its intention to purchase
      such shares, and will consummate the purchase within one year (or ninety
      (90) days to the extent required by applicable law) of your termination of
      Service. If the Company exercises its option to purchase such shares, the
      purchase price shall be the Fair Market Value of those shares on the date
      the Company gives you notice of its intent to exercise its repurchase
      option (or in the event the Company repurchases your Stock within ninety
      (90) days of your termination of Service, the purchase price shall be the
      Fair Market Value of those shares on the date of your termination of
      Service).  The Company's option to repurchase vested Stock shall
      terminate in the event that the Stock is listed on an established national
      or regional stock exchange, is admitted for quotation on The Nasdaq Stock
      Market, Inc., or is publicly traded in an established securities
      market.

                  
	 	 
	
                    Retention
      Rights

                  	
                    This
      Agreement does not give you the right to be retained or employed by the
      Company (or any of its Affiliates) in any capacity.  The Company
      (and any Affiliates) reserve the right to terminate your Service at any
      time and for any
reason.

                  

          

        

      

    
 

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

     

    
      
        
          
            	
                    Shareholder
      Rights

                  	
                    You
      have the right to vote the Restricted Stock and to receive any dividends
      declared or paid on such stock.  Any distributions you receive
      as a result of any stock split, stock dividend, combination of shares or
      other similar transaction shall be deemed to be a part of the Restricted
      Stock and subject to the same conditions and restrictions applicable
      thereto.  The
      Company may in its sole discretion require any dividends paid on the
      Restricted Stock to be reinvested in shares of Stock, which the Company
      may in its sole discretion deem to be a part of the shares of Restricted
      Stock and subject to the same conditions and restrictions applicable
      thereto.  Except as described in the Plan, no adjustments are
      made for dividends or other rights if the applicable record date occurs
      before your stock certificate is issued.

                  
	 	 
	
                    Forfeiture
      of Rights

                  	
                    If
      you should take actions in competition with the Company, the Company shall
      have the right to cause a forfeiture of your unvested Restricted Stock,
      and with respect to those shares of Restricted Stock vesting during the
      period commencing twelve (12) months prior to your termination of Service
      with the Company due to taking actions in competition with the Company,
      the right to cause a forfeiture of those vested shares of
      Stock.
 

                    Unless
      otherwise specified in an employment or other agreement between the
      Company and you, you take actions in competition with the Company if you
      directly or indirectly, own, manage, operate, join or control, or
      participate in the ownership, management, operation or control of, or are
      a proprietor, director, officer, stockholder, member, partner or an
      employee or agent of, or a consultant to any business, firm, corporation,
      partnership or other entity which competes with any business in which the
      Company or any of its Affiliates is engaged during your employment or
      other relationship with the Company or its Affiliates or at the time of
      your termination of Service.

                  
	 	 
	
                    Adjustments

                  	
                    In
      the event of a stock split, a stock dividend or a similar change in the
      Company stock, the number of shares covered by this grant may be adjusted
      (and rounded down to the nearest whole number) pursuant to the
      Plan.  Your Restricted Stock shall be subject to the terms of
      the agreement of merger, liquidation or reorganization in the event the
      Company is subject to such corporate activity in accordance with the terms
      of the Plan.

                  

          

        

      

    

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

     

    
      
        
          
            
              
                	
                        Legends

                      	
                        All
      certificates representing the Stock issued in connection with this grant
      shall, where applicable, have endorsed thereon the following
      legends:
 

                        “THE
      SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS
      ON TRANSFER AND OPTIONS TO PURCHASE SUCH SHARES SET FORTH IN AN AGREEMENT
      BETWEEN THE COMPANY AND THE REGISTERED HOLDER, OR HIS OR HER PREDECESSOR
      IN INTEREST. A COPY OF SUCH AGREEMENT IS ON FILE AT THE PRINCIPAL OFFICE
      OF THE COMPANY AND WILL BE FURNISHED UPON WRITTEN REQUEST TO THE SECRETARY
      OF THE COMPANY BY THE HOLDER OF RECORD OF THE SHARES REPRESENTED BY THIS
      CERTIFICATE.”

                      
	 	 
	 
      	
                        “THE
      SHARES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED OR QUALIFIED UNDER THE
      SECURITIES ACT OF 1933, AS AMENDED, OR ANY SECURITIES LAWS OF ANY STATE OR
      OTHER JURISDICTION, AND MAY NOT BE SOLD, PLEDGED, OR OTHERWISE TRANSFERRED
      WITHOUT AN EFFECTIVE REGISTRATION OR QUALIFICATION THEREOF UNDER SUCH ACT
      AND SUCH APPLICABLE STATE OR OTHER JURISDICTION'S SECURITIES LAWS OR AN
      OPINION OF COUNSEL, SATISFACTORY TO THE COMPANY AND ITS COUNSEL, THAT SUCH
      REGISTRATION AND QUALIFICATION IS NOT REQUIRED.”

                      
	 	 
	
                        Applicable
      Law

                      	
                        This
      Agreement will be interpreted and enforced under the laws of the State of
      Maryland, other than any conflicts or choice of law rule or principle that
      might otherwise refer construction or interpretation of this Agreement to
      the substantive law of another jurisdiction.

                      
	 	 
	
                        The
      Plan

                         

                      	
                        The
      text of the Plan is incorporated in this Agreement by
      reference.
 

                        This
      Agreement and the Plan constitute the entire understanding between you and
      the Company regarding this grant of Restricted Stock.  Any prior
      agreements, commitments or negotiations concerning this grant are
      superseded.

                      
	 	 
	
                        Other
      Agreements

                         

                      	
                        You
      agree, as a condition of this grant of Restricted Stock, that you will
      execute such document(s) as necessary to become a party to any shareholder
      agreement or voting trust as the Company may
  require.

                      

              

            

          

        

      

    
 

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

     

    
      
        
          	
                  Data
      Privacy

                	
                  In
      order to administer the Plan, the Company may process personal data about
      you.  Such data includes but is not limited to the information
      provided in this Agreement and any changes thereto, other appropriate
      personal and financial data about you such as home address and business
      addresses and other contact information, payroll information and any other
      information that might be deemed appropriate by the Company to facilitate
      the administration of the Plan.
 

                  By
      accepting this grant, you give explicit consent to the Company to process
      any such personal data.  You also give explicit consent to the
      Company to transfer any such personal data outside the country in which
      you work or are employed, including, with respect to non-U.S. resident
      Grantees, to the United States, to transferees who shall include the
      Company and other persons who are designated by the Company to administer
      the Plan.

                
	 	 
	
                  Consent
      to Electronic 

                  Delivery

                	
                  The
      Company may choose to deliver certain statutory materials relating to the
      Plan in electronic form.  By accepting this grant you agree that
      the Company may deliver the Plan prospectus and the Company’s annual
      report (to the extent required) to you in an electronic
      format.  If at any time you would prefer to receive paper copies
      of these documents, as you are entitled to, the Company would be pleased
      to provide copies.  Please contact Kim DeChello to request paper
      copies of these
documents.

                

        

      

    

    

    By signing the cover sheet of this
Agreement, you agree to all of the terms and conditions
described above and in the Plan.
 

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    EXHIBIT
A

     

    ELECTION
UNDER SECTION 83(b) OF

    THE
INTERNAL REVENUE CODE

     

    The
undersigned hereby makes an election pursuant to Section 83(b) of the Internal
Revenue Code with respect to the property described below and supplies the
following information in accordance with the regulations promulgated
thereunder:

     

    1.           The
name, address and social security number of the undersigned:

     

    Name:
                                                                                                               

     

    Address:                                                                                                             

     

                                                                                                                               

     

    Social
Security No. :                                                                                          

     

    2.           Description
of property with respect to which the election is being made:

     

    __________
shares of common stock, par value $.001 per share, of The KEYW Holding
Corporation, a Maryland corporation, (the “Company”).

     

    3.           The
date on which the property was transferred is ___________.

     

    4.           The
taxable year to which this election relates is calendar year _____.

     

    5.           Nature
of restrictions to which the property is subject:

     

      
The shares of stock are subject to the provisions of a Restricted Stock
Agreement between the undersigned and the Company.  The shares of
stock are subject to forfeiture under the terms of the Agreement.

     

    6.           The
fair market value of the property at the time of transfer (determined without
regard to any lapse restriction) was $__________ per share, for a total of
$__________.

     

    7.           The
amount paid by taxpayer for the property was $__________.

     

    8.           A
copy of this statement has been furnished to the Company.

     

    Dated:  _____________

     

    _____________________________________

    Taxpayer’s
Signature

    _____________________________________

    Taxpayer’s
Printed Name

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    PROCEDURES
FOR MAKING ELECTION

    UNDER INTERNAL REVENUE CODE SECTION 83(b)

    

    The following procedures must be followed with respect
to the attached form for making an election under Internal Revenue Code section
83(b) in order for the election to be effective:1

    

    1.        You
must file one copy of the completed election form with the IRS Service Center
where you file your federal income tax returns within 30 days after the
Grant Date of your Restricted Stock.

    

    2.        At
the same time you file the election form with the IRS, you must also give a copy
of the election form to the Secretary of the Company.

    

    3.        You
must file another copy of the election form with your federal income tax return
(generally, Form 1040) for the taxable year in which the stock is transferred to
you.  

    
       

        
          

        

      

    

    1         Whether
or not to make the election is your decision and may create tax consequences for
you.  You are advised to consult your tax advisor if you are unsure
whether or not to make the election.Option
No.: _______

     

    THE
KEYW CORPORATION

    NON-QUALIFIED
STOCK OPTION AGREEMENT

     

     The
KEYW Corporation, a Maryland corporation (the “Company”), hereby grants an
option to purchase shares of its common stock (the “Stock”) to the optionee
named below.  The terms and conditions of the option are set forth in
this cover sheet and in the attachment (the “Agreement”).

     

    Date of
Award:  __________________

     

    Name of
Optionee:  _________________________________________________

     

    Optionee’s
Identification Number:   _____-____-_____

     

    Number of
Shares Covered by Option:  ______________

     

    Option
Price per Share:  $_____.___

     

    Vesting
Commencement Date:  See Vesting Schedule

     

    Expiration
Date:

     

    Vesting
Schedule:

     

    By
signing this cover sheet, you agree to all of the terms and conditions described
in this Agreement.  You acknowledge that you have carefully reviewed
this Agreement.

     

    
      
        
          
            
              	
                      Optionee:

                    	 
      
	 
      	
                      (Signature)

                    
	 
      	 
      
	
                      Company: 

                    	 
      
	 
      	
                      (Signature)

                    
	 
      	 
      	 
      
	 
      	
                      Title: 

                    	 
      

            

          

        

      

    

     

    Attachment

     

    This
is not a stock certificate or a negotiable instrument

 

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    THE
KEYW CORPORATION

    NON-QUALIFIED
STOCK OPTION AGREEMENT

     

    
      
        
          
            	
                    Non-Qualified
      Stock

                    Option

                  	
                    This
      option is not intended to be an incentive stock option under Section 422
      of the Internal Revenue Code and will be interpreted
      accordingly.

                  
	 
      	 
      
	
                    Vesting

                  	
                    This
      option is only exercisable before it expires and then only with respect to
      the vested portion of the option.  Subject to the preceding
      sentence, you may exercise this option, in whole or in part, to purchase a
      whole number of vested shares (not less than 100 shares unless the number
      of shares purchased is the total number available for purchase under the
      option), by following the procedures set forth below in this
      Agreement.
 

                    Your
      right to purchase shares of Stock under this option vests as to equal
      _______ installments of the total
      number of shares covered by this option, as shown on the cover sheet
      provided you then continue in Service.
 

                    Except
      as provided below, no additional shares of Stock will vest after your
      Service has terminated for any reason.

                  
	 
      	 
      
	
                    Term

                  	
                    Your
      option will expire in any event at the close of business at Company
      headquarters on the day before the 10th anniversary of the Grant Date, as
      shown on the cover sheet.  Your option will expire earlier (but
      never later) if your Service terminates, as described
    below.

                  
	 
      	 
      
	
                    Regular
      Termination

                  	
                    If
      your Service terminates for any reason, other than death, Disability or
      Cause, then your option will expire on _______.

                  
	 
      	 
      
	
                    Termination
      for

                    Cause

                  	
                    If
      your Service is terminated for Cause, then you shall immediately forfeit
      all rights to your option and the option shall immediately
      expire.

                  
	 
      	 
      
	
                    Death

                  	
                    If
      your Service terminates because of your death, then your option will be
      fully vested and exercisable and will expire at the close of business at
      Company headquarters on the date six (6) months after the date of
      death.  During that six month period, your estate or heirs may
      exercise the vested portion of your option.

                  
	 
      	 
      
	
                    Disability

                  	
                    If
      your Service terminates because of your Disability, then your option will
      be fully vested and exercisable and will expire at the close of business
      at Company headquarters on the date six (6) months after your termination
      date.

                  
	 
      	 
      
	
                    Leave
      of Absence

                  	
                    For
      purposes of this option, your Service does not terminate when you go on a
      bona fide
      employee leave of absence that was approved by the Company in writing, if
      the terms of the leave provide for continued Service crediting, or when
      continued Service crediting is required by applicable
      law.  However, your Service will be treated as terminating 90
      days after you went on employee leave, unless your right to return to
      active work is guaranteed by law or by a contract.  Your Service
      terminates in any event when the approved leave ends unless you
      immediately return to active employee
work.

                  

          

        

      

    
 

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      
        	 
      	
                The
      Company determines, in its sole discretion, which leaves count for this
      purpose, and when your Service terminates for all purposes under this
      Agreement.

              
	 
      	 
      
	
                Notice
      of Exercise

              	
                When
      you wish to exercise this option, you must notify the Company by filing
      the proper “Notice of Exercise” form at the address given on the
      form.  Your notice must specify how many shares you wish to
      purchase (in a parcel of at least 100 shares generally).  Your
      notice must also specify how your shares of Stock should be registered (in
      your name only or in your and your spouse’s names as joint tenants with
      right of survivorship).  The notice will be effective when it is
      received by the Company.
 

                If
      someone else wants to exercise this option after your death, that person
      must prove to the Company’s satisfaction that he or she is entitled to do
      so.

              
	 
      	 
      
	
                Form
      of Payment

              	
                When
      you submit your notice of exercise, you must include payment of the option
      price for the shares you are purchasing.  Payment may be made in
      one (or a combination) of the following forms:
 

                ·            Cash,
      your personal check, a cashier’s check, a money order or another cash
      equivalent acceptable to the Company.
 

                ·            Shares
      of Stock withheld by the Company from the shares of Stock otherwise to be
      received, with such withheld shares having an aggregate Fair Market Value
      on the date of exercise equal to the aggregate option
      price.
 

                ·            Shares
      of Stock which have already been owned by you and which are surrendered to
      the Company. The Fair Market Value of the shares, determined as of the
      effective date of the option exercise, will be applied to the option
      price.
 

                ·            To
      the extent a public market for the Stock exists as determined by the
      Company, by delivery (on a form prescribed by the Company) of an
      irrevocable direction to a licensed securities broker acceptable to the
      Company to sell shares of Stock and to deliver all or part of the sale
      proceeds to the Company in payment of the aggregate option
      price.

              
	 
      	 
      
	
                Withholding
      Taxes

              	
                You
      will not be allowed to exercise this option unless you make acceptable
      arrangements to pay any withholding or other taxes that may be due as a
      result of the option exercise or sale of shares of Stock acquired under
      this option.  Any of the methods described under “Form of
      Payment” will be considered acceptable arrangements for paying such
      taxes.

              

      

    
 

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    
      
        	
                Transfer
      of Option

              	
                During
      your lifetime, only you (or, in the event of your legal incapacity or
      incompetency, your guardian or legal representative) may exercise the
      option.  You cannot transfer or assign this
      option.  For instance, you may not sell this option or use it as
      security for a loan.  If you attempt to do any of these things,
      this option will immediately become invalid.  You may, however,
      dispose of this option in your will or it may be transferred upon your
      death by the laws of descent and distribution.
 

                Regardless
      of any marital property settlement agreement, the Company is not obligated
      to honor a notice of exercise from your spouse, nor is the Company
      obligated to recognize your spouse’s interest in your option in any other
      way.

              
	 
      	 
      
	
                Market
      Stand-off

                Agreement

              	
                In
      connection with any underwritten public offering by the Company of its
      equity securities pursuant to an effective registration statement filed
      under the Securities Act of 1933 (the “Securities Act”), including the
      Company’s initial public offering, you agree not to sell, make any short
      sale of, loan, hypothecate, pledge, grant any option for the purchase of,
      or otherwise dispose or transfer for value or agree to engage in any of
      the foregoing transactions with respect to any shares of Stock without the
      prior written consent of the Company or its underwriters, for such period
      of time after the effective date of such registration statement as may be
      requested by the Company or the underwriters (not to exceed 180 days in
      length).

              
	 
      	 
      
	
                Investment

                Representation

              	
                If
      the sale of Stock under this Agreement is not registered under the
      Securities Act, but an exemption is available which requires an investment
      or other representation, you shall represent and agree at the time of
      exercise that the Stock being acquired upon exercise of this option is
      being acquired for investment, and not with a view to the sale or
      distribution thereof, and shall make such other representations as are
      deemed necessary or appropriate by the Company and its
      counsel.

              
	 
      	 
      
	
                The
      Company's Right of

                First
      Refusal

              	
                In
      the event that you propose to sell, pledge or otherwise transfer to a
      third party any Stock acquired under this Agreement, or any interest in
      such Stock, the Company shall have the “Right of First Refusal” with
      respect to all (and not less than all) of such shares of
      Stock.  If you desire to transfer Stock acquired under this
      Agreement, you must give a written “Transfer Notice” to the Company
      describing fully the proposed transfer, including the number of shares
      proposed to be transferred, the proposed transfer price and the name and
      address of the proposed transferee.
 

                The
      Transfer Notice shall be signed both by you and by the proposed new
      transferee and must constitute a binding commitment of both parties to the
      transfer of the shares.  The Company shall have the right to
      purchase all, and not less than all, of the shares of Stock on the terms
      of the proposal described in the Transfer Notice (subject, however, to any
      change in such terms permitted in the next paragraph) by delivery of a
      notice of exercise of the Right of First Refusal within thirty (30) days
      after the date when the Transfer Notice was received by the
      Company.

              

      

    
 

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    

    
      
        	 
      	
                If
      the Company fails to exercise its Right of First Refusal within thirty
      (30) days after the date when it received the Transfer Notice, you may,
      not later than ninety (90) days following receipt of the Transfer Notice
      by the Company, conclude a transfer of the Stock subject to the Transfer
      Notice on the terms and conditions described in the Transfer
      Notice.  Any proposed transfer on terms and conditions different
      from those described in the Transfer Notice, as well as any subsequent
      proposed transfer by you, shall again be subject to the Right of First
      Refusal and shall require compliance with the procedure described in the
      paragraph above.  If the Company exercises its Right of First
      Refusal, the parties shall consummate the sale of the Stock on the terms
      set forth in the Transfer Notice within 60 days after the date when the
      Company received the Transfer Notice (or within such longer period as may
      have been specified in the Transfer Notice); provided, however, that in
      the event the Transfer Notice provided that payment for the Stock was to
      be made in a form other than lawful money paid at the time of transfer,
      the Company shall have the option of paying for the Stock with lawful
      money equal to the present value of the consideration described in the
      Transfer Notice.
 

                In
      the case of any purchase of Stock under this Right of First Refusal, at
      the option of the Company, the Company may pay you the purchase price in
      three or fewer annual installments.  Interest shall be credited
      on the installments at the applicable federal rate (as determined for
      purposes of Section 1274 of the Code) in effect on the date on which
      the purchase is made.  The Company shall pay at least one-third
      of the total purchase price each year, plus interest on the unpaid
      balance, with the first payment being made on or before the 60th
      day after the purchase.
 

                The
      Company’s rights under this subsection shall be freely assignable, in
      whole or in part, shall inure to the benefit of its successors and assigns
      and shall be binding upon any transferee of the shares of
      Stock.
 

                The
      Company’s Right of First Refusal shall terminate in the event that the
      Stock is listed on an established national or regional stock exchange, is
      admitted for quotation on The Nasdaq Stock Market, Inc., or is publicly
      traded in an established securities market.

              
	 
      	 
      
	
                Right
      to Repurchase

              	
                Following
      termination of your Service for any reason, the Company shall have the
      right to purchase all of those shares of Stock that you have or will
      acquire under this option.  If the Company exercises its right
      to purchase the shares, the Company will notify you of its intention to
      purchase such shares, and will consummate the purchase within one year (or
      90 days to the extent required by applicable law) of your termination of
      Service or, in the case of Stock acquired after your termination of
      Service, within one year (or 90 days to the extent required by applicable
      law) of the date of
exercise.

              

      

    
 

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    
      
        	 
      	
                The
      purchase price shall be the Fair Market Value of the shares on the date of
      your termination of Service if the Company exercises its right to purchase
      such shares within 90 days of your termination of Service or exercises its
      right within 90 days of the date of your exercise of the option following
      termination of Service; otherwise the purchase price shall be the Fair
      Market Value of the shares on the date the Company gives you notice of its
      intent to exercise its right to purchase the
shares.
 

                The
      Company's rights of repurchase shall terminate in the event that the Stock
      is listed on an established national or regional stock exchange, is
      admitted for quotation on The Nasdaq Stock Market, Inc., or is publicly
      traded in an established securities market.

              
	 
      	 
      
	
                Retention
      Rights

              	
                Neither
      your option nor this Agreement give you the right to be retained by the
      Company (or any Parent, Subsidiaries or Affiliates) in any
      capacity.  The Company (and any Parent, Subsidiaries or
      Affiliates) reserve the right to terminate your Service at any time and
      for any reason.

              
	 
      	 
      
	
                Shareholder
      Rights

              	
                You,
      or your estate or heirs, have no rights as a shareholder of the Company
      until a certificate for your option’s shares has been issued (or an
      appropriate book entry has been made).  No adjustments are made
      for dividends or other rights if the applicable record date occurs before
      your stock certificate is issued (or an appropriate book entry has been
      made), except as described in this Agreement.

              
	 
      	 
      
	
                Adjustments

              	
                If
      the number of outstanding shares of Stock of the Company is increased or
      decreased or the shares of Stock are changed into or exchanged for a
      different number or kind of shares or other securities of the Company on
      account of any recapitalization, reclassification, stock split, reverse
      split, combination of shares, exchange of shares, stock dividend or other
      distribution payable in capital stock, or other increase or decrease in
      such shares effected without receipt of consideration by the Company
      occurring after the Grant Date, the number and kind of shares subject to
      this Agreement shall be adjusted proportionately and
      accordingly.
 

                Your
      option shall be subject to the terms of the agreement of merger,
      liquidation or reorganization in the event the Company is subject to such
      corporate activity.

              
	 
      	 
      
	
                Legends

              	
                All
      certificates representing the Stock issued upon exercise of this option
      shall, where applicable, have endorsed thereon the following
      legends:

              

      

    
 

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    
      
        	 
      	
                “THE
      SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS
      ON TRANSFER AND OPTIONS TO PURCHASE SUCH SHARES SET FORTH IN AN AGREEMENT
      BETWEEN THE COMPANY AND THE REGISTERED HOLDER, OR HIS OR HER PREDECESSOR
      IN INTEREST. A COPY OF SUCH AGREEMENT IS ON FILE AT THE PRINCIPAL OFFICE
      OF THE COMPANY AND WILL BE FURNISHED UPON WRITTEN REQUEST TO THE SECRETARY
      OF THE COMPANY BY THE HOLDER OF RECORD OF THE SHARES REPRESENTED BY THIS
      CERTIFICATE.”

              
	 
      	 
      
	 
      	
                “THE
      SHARES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED OR QUALIFIED UNDER THE
      SECURITIES ACT OF 1933, AS AMENDED, OR ANY SECURITIES LAWS OF ANY STATE OR
      OTHER JURISDICTION, AND MAY NOT BE SOLD, PLEDGED, OR OTHERWISE TRANSFERRED
      WITHOUT AN EFFECTIVE REGISTRATION OR QUALIFICATION THEREOF UNDER SUCH ACT
      AND SUCH APPLICABLE STATE OR OTHER JURISDICTION'S SECURITIES LAWS OR AN
      OPINION OF COUNSEL, SATISFACTORY TO THE COMPANY AND ITS COUNSEL, THAT SUCH
      REGISTRATION AND QUALIFICATION IS NOT REQUIRED.”

              
	 
      	 
      
	
                Applicable
      Law

              	
                This
      Agreement will be interpreted and enforced under the laws of the State of
      Maryland, other than any conflicts or choice of law rule or principle that
      might otherwise refer construction or interpretation of this Agreement to
      the substantive law of another jurisdiction.

              
	 
      	 
      
	
                The
      Agreement

                 

              	
                This
      Agreement constitutes the entire understanding between you and the Company
      regarding this option.  Any prior agreements, commitments or
      negotiations concerning this option are superseded.

              
	 
      	 
      
	
                Data
      Privacy

              	
                In
      order to administer this Agreement, the Company may process personal data
      about you.  Such data includes but is not limited to the
      information provided in this Agreement and any changes thereto, other
      appropriate personal and financial data about you such as home address and
      business addresses and other contact information, payroll information and
      any other information that might be deemed appropriate by the Company to
      facilitate the administration of this Agreement.
 

                By
      accepting this grant, you give explicit consent to the Company to process
      any such personal data.  You also give explicit consent to the
      Company to transfer any such personal data outside the country in which
      you work or are employed, including, with respect to non-U.S. resident
      Grantees, to the United States, to transferees who shall include the
      Company and other persons who are designated by the Company to administer
      this Agreement.

              

      

    
 

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

     

    
      
        
          	
                  Consent
      to Electronic

                  Delivery

                	
                  The
      Company may choose to deliver certain statutory materials relating to this
      Agreement in electronic form.  By accepting this grant you agree
      that the Company may deliver the Company’s annual report (to the extent
      required) to you in an electronic format.  If at any time you
      would prefer to receive paper copies of these documents, as you are
      entitled to, the Company would be pleased to provide
      copies.  Please contact Kim DeChello to request paper copies of
      these documents.

                
	 	 
	
                  Definitions

                	
                  “Affiliate”
      means, with respect to a Person, any company or other trade or business
      that controls, is controlled by or is under common control with such
      Person within the meaning of Rule 405 of Regulation C under the Securities
      Act, including, without limitation, any Subsidiary, provided that an
      entity may not be considered an Affiliate if it results in noncompliance
      with Code Section 409A.
 

                  “Board”
      means the Board of Directors of the Company.
 

                  “Cause”
      means as determined by the Board and unless otherwise provided in an
      applicable agreement with the Company or an Affiliate thereof, (i) gross
      negligence or willful misconduct in connection with the performance of
      duties; (ii) conviction of a criminal offense (other than minor
      traffic offenses); or (iii) material breach of any term of any
      employment, consulting or other services, confidentiality, intellectual
      property or non-competition agreements, if any, between the Service
      Provider and the Company or an Affiliate thereof.
 

                  “Disability”
      means you are unable to perform each of the essential duties of your
      position by reason of a medically determinable physical or mental
      impairment which is potentially permanent in character or which can be
      expected to last for a continuous period of not less than twelve (12)
      months
 

                  “Fair
      Market Value” means the value of a share of Stock, determined as
      follows:  if on the determination date the Stock is listed on an
      established national or regional stock exchange, or is publicly traded on
      an established securities market, the Fair Market Value of a share of
      Stock shall be the closing price of the Stock on such exchange or in such
      market (if there is more than one such exchange or market the Board shall
      determine the appropriate exchange or market) on the determination date
      (or if there is no such reported closing price, the Fair Market Value
      shall be the mean between the highest bid and lowest asked prices or
      between the high and low sale prices on such trading day) or, if no sale
      of Stock is reported for such trading day, on the next preceding day on
      which any sale shall have been reported.  If the Stock is not
      listed on such an exchange, quoted on such system or traded on such a
      market, Fair Market Value shall be the value of the Stock as determined by
      the Board in good faith in a manner consistent with Code Section
      409A.

                

        

      

    
 

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

     

    
      
        	 
      	
                “Person”
      means a natural person, partnership, corporation, limited liability
      company, business trust, joint stock company, trust, unincorporated
      association, joint venture or other entity or
      organization.
 

                “Service”
      means service as an employee, officer, director or other Service Provider
      of the Company or an Affiliate thereof.  Unless otherwise stated
      in the applicable Award Agreement, a Grantee’s change in position or
      duties shall not result in interrupted or terminated Service, so long as
      such Grantee continues to be an employee, officer, director or other
      Service Provider of the Company or an Affiliate
      thereof.  Subject to the preceding sentence, whether a
      termination of Service shall have occurred shall be determined by the
      Board, which determination shall be final, binding and
      conclusive.
 

                “Service
      Provider” means an employee, officer or director of the Company or an
      Affiliate thereof, or a consultant or adviser currently providing services
      to the Company or an Affiliate
thereof.

              

      

    

     

    By
signing the cover sheet of this Agreement, you agree to all of the terms and
conditions  described above.
 

    
      
         

      

      
        8

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