Document:

EX-10.27

 

Exhibit 10.27

OPENTV CORP.

2003 INCENTIVE PLAN

Form of Incentive Stock Option Agreement

     STOCK OPTION AGREEMENT dated as of ___, 20___(the “Grant Date”), between OpenTV Corp.
(the “Company”) and ___(“Optionee”).

Recitals

               A. Optionee is an employee of the Company or one of its Affiliates.

               B. The Company has adopted the OpenTV Corp. 2003 Incentive Plan, effective May 6,
2003 (the “Plan”), a copy of which is attached hereto as Exhibit A. This Agreement is entered into
pursuant to Section 10.5 of the Plan. Any capitalized terms used herein and not otherwise defined
are used as defined in the Plan.

               NOW THEREFORE, in consideration of the foregoing and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the Company and Optionee hereby agree
to the following:

               1. Option Grant. The Company hereby grants to Optionee the option
(“Option”) to purchase up to ___shares (the “Shares”) of the Company’s Class A Ordinary
Shares, no par value, at an exercise price of $  per share (the “Exercise Price”), on the
terms, and subject to the conditions, set forth in this Agreement and the Plan. The Option is
intended to be an incentive stock option as defined in Section 422 of the Code and is hereby
designated an “incentive stock option” for all purposes of the Code and the Plan, provided that to
the extent the limitations of Section 422 of the Code are exceeded, the excess portion of the
Option is intended to be a nonqualified stock option within the meaning of Section 83 of the Code.

               2. Exercise

               (a) Vesting Schedule. The Option shall be exercisable from time to time
during its term in accordance with the following vesting schedule, except as otherwise expressly
provided in this Agreement and the Plan: Twenty-five percent (25%) of the Option shall vest and
become exercisable on the first anniversary of the Vesting Commencement Date. At the end of each
month thereafter, the Option shall vest and become exercisable as to an additional 1/48th of the
Shares until the Option is vested with respect to one hundred percent (100%) of the Shares. If
application of the vesting percentage causes a fractional Share, such fractional Share shall be
rounded down to a whole Share. For purposes of this Section 2(a), the Vesting Commencement Date is
___.

               (b) Termination of Service. Notwithstanding Section 2(a), if Optionee’s
service for the Company and/or its Subsidiaries (whether such service was rendered as an employee
or a consultant or advisor) terminates for any reason (“Termination of Service”) prior to the
complete exercise of the Option, then all vesting pursuant to Section 2(a) shall cease as of the
date of Termination of Service and the Option shall thereafter be exercisable only to the extent,
if any, that the Option was exercisable at the time of Termination of Service; provided,
however, that (i) if Termination of Services occurs by reason of death or Disability then
the Option shall immediately become exercisable in full as to 100% of the Shares and (ii) upon any
Termination of Service by the Company for Cause (as defined below), the entire Option shall
immediately and automatically terminate, notwithstanding any prior vesting. In addition,
notwithstanding any other provision in this Agreement to the contrary, the entire Option shall
immediately and automatically terminate, notwithstanding any prior vesting, if following
Termination of Service the Optionee breaches any material provision of the Employee Invention
Agreement (as defined below). For purposes of this Agreement, the term “Cause” (i) shall expressly
include the breach by Optionee of any material provision of the Employee Proprietary Information
and Inventions Agreement

1

 

signed by the Optionee for the benefit of the Company and/or its Subsidiaries (the “Employee
Invention Agreement”) and (ii) shall also include any actions or inactions constituting “cause”
within the meaning ascribed thereto in the Plan and in any employment agreement to which Optionee
is a party or, in the absence thereof, shall include but not be limited to insubordination,
dishonesty, incompetence, moral turpitude, other misconduct of any kind and the refusal to perform
his or her duties and responsibilities for any reason other than illness or incapacity.

               (c) Exercise After Termination. Upon any Termination of Service other than
(i) a termination by the Company for Cause or (ii) a termination by reason of death or Disability,
then the Option will terminate at the close of business on the first business day following the
expiration of the ninety (90) day period beginning on the date of such Termination of Service.
Upon any Termination of Service by reason of death or Disability, the Option shall remain
exercisable for a period of one year following Termination of Service (but not later than the
scheduled expiration of the Option).

               (d) Transfer of Employment. Notwithstanding Section 2(a), in the event
Optionee’s employment with the Company or a Subsidiary of the Company (a “Transferring Entity”) is
transferred to any other Subsidiary of the Company (a “Transferred Entity”), then the Board shall
have the right to terminate all unvested Options held by Optionee on the effective date of transfer
of employment from the Transferring Entity to the Transferred Entity if the Board determines, in
its sole judgment, that adequate provision has been made for Optionee to receive a new equity
incentive award, whether from the Company or from the Transferred Entity, in connection with such
transfer of employment.

               (e) Method of Exercise. This Option shall be exercisable by written notice
(in the form attached as Exhibit B or other form acceptable to the Company) which shall state the
election to exercise the Option, the number of Shares with respect to which the Option is being
exercised, and such representations, warranties and agreements as the Company may reasonably
request to comply with applicable U.S. federal or state securities laws and/or the requirements of
any stock exchange (or quotation system) upon which the Class A Ordinary Shares are listed or
included (a “Stock Exchange”). The written notice of exercise shall be accompanied by payment of
the aggregate Exercise Price for the number of Shares for which the Option is being exercised,
pursuant to one of the methods described in Section 4 below. The Option shall only be deemed to be
exercised upon receipt by the Company of such written notice accompanied by the Exercise Price so
paid.

               (f) Compliance with Law. No Shares will be issued pursuant to the exercise
of the Option unless such issuance and such exercise shall be in conformity with all relevant
provisions of law and the requirements of any applicable Stock Exchange. Assuming such compliance,
for income tax purposes, the Shares shall be deemed transferred to the Optionee at the close of
business (or such other time as the Board shall determine) on the date on which the Option is
exercised with respect to such Shares.

               (g) Withholding. The Company’s obligation to deliver Shares upon exercise
of the Option shall be subject to applicable federal, state and local tax withholding requirements.
Federal, state and local withholding tax due upon any exercise of the Option may, in the
discretion of the Board (or, if the Board expressly provides, the Committee), be paid in Class A
Ordinary Shares already owned by Optionee or through the withholding of Shares otherwise issuable
to Optionee, upon such terms and conditions as the Board (or the Committee) shall determine. If
Optionee shall fail to pay, or make arrangements satisfactory to the Board or the Committee for the
payment to the Company of all such federal, state and local taxes required to be withheld by the
Company, then the Company shall, to the extent permitted by law, have the right to deduct from any
payment of any kind otherwise due to Optionee an amount equal in value to any federal, state or
local taxes of any kind required to be withheld by the Company with respect to any exercise of the
Option.

               3. Optionee’s Representations. If, at the time the Option is exercised, the
issuance of Shares upon exercise of the Option has not been registered pursuant to an effective
registration statement under the Securities Act of 1933, as amended, then concurrently with the
exercise of all or any portion of the Option, Optionee shall deliver to the Company a signed
Investment Representation Letter in the form of Exhibit C attached hereto.

2

 

               4. Method of Payment. Payment of the Exercise Price shall be made only by
one or more of the following methods, or a combination thereof, as Optionee shall from time to time
elect:

               (a) cash;

               (b) check;

               (c) surrender of whole Shares that (A) have been owned by Optionee for at least six
months on the date of surrender (or for a shorter period, if the Committee expressly approves the
use of such Shares), and (B) have an aggregate Fair Market Value (as determined in accordance with
the provisions of the Plan) on the date of surrender equal to the aggregate Exercise Price of the
Shares as to which the Option is being exercised (it being understood that so-called “pyramid” or
“bootstrap” exercising of options is not permitted by this Agreement); or

               (d) delivery, together with such other documentation as the Company in its sole and
absolute discretion shall require, of irrevocable instructions by Optionee to an approved broker to
(i) sell the Shares issuable upon exercise of the Option and (ii) deliver to the Company the amount
of sale proceeds required to pay the Exercise Price; provided, that: (A) the delivery by the
Company to the approved broker of Shares sold pursuant to the Optionee’s instructions, (B) the
broker’s delivery of the Exercise Price to the Company, and (C) the broker’s delivery of the net
proceeds of the sale to the Optionee, take place on the same date (the “Settlement Date”) and;
provided, further, that the Settlement Date is no later than three (3) days following the date the
Optionee provides the approved broker with instructions to sell the Shares issuable upon the
exercise of the Option.

               5. Compliance with Laws. The Option may not be exercised if the issuance of
Shares upon such exercise or the method of paying the Exercise Price for such Shares would
constitute a violation of any applicable federal or state securities or other law or regulation,
including any rule under Part 207 of Title 12 of the Code of Federal Regulations (“Regulation G”)
as promulgated by the Federal Reserve Board.

               6. Non-Transferability. Neither the Option nor any rights of Optionee
hereunder may be transferred or assigned in any manner otherwise than by will or by the laws of
descent or distribution or pursuant to a Domestic relations order, and, except as otherwise
required pursuant to a Domestic relations order, the Option may be exercised during the lifetime of
Optionee only by Optionee (or his or her court appointed legal representative). The terms of this
Option shall be binding upon the executors, administrators, heirs, successors and assigns of the
Optionee.

               7. Term of Option. The term of the Option shall commence on the date of
this Agreement and shall automatically expire on the tenth (10th) anniversary of the Grant Date, to
the extent not theretofore exercised.

               8. Employee Invention Agreement. Optionee hereby represents and agrees that
Optionee has executed and delivered prior to the date hereof an Employee Invention Agreement. The
Optionee expressly acknowledges that his/her agreement to enter into and to be bound by the terms
of the Employee Invention Agreement is a condition precedent to the grant of the Option hereunder
and that without that agreement, the Company would not enter into this Agreement.

               9. Incorporation of the Plan; Entire Agreement; Governing Law. This
Agreement is an agreement entered into pursuant to the Plan, and the Option is an Option granted
under the Plan, and the Plan is hereby incorporated herein by reference. Optionee agrees that his
or her rights under the Option and this Agreement shall be subject to such administrative rules and
interpretations of the Plan as the Board or the Committee shall adopt in accordance with the Plan.
The Plan (including any and all such rules and interpretations adopted by the Board or the
Committee), this Agreement, the Employee Invention Agreement and any other employment agreement
between the Company and Optionee that has been approved by the Board and that expressly references
the Option or this Agreement constitute the entire agreement of the parties with respect to the
subject matter hereof and supersede in their entirety all prior undertakings and agreements of the
Company and Optionee with respect to the subject matter hereof, and Optionee and Company hereby
represent and warrant that no promise or agreement not herein expressed has been made by any person
with respect to this Agreement or the subject matter hereof. If

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any provision of this Agreement conflicts with any requirement of the Plan, the Plan
requirements shall govern. This Option Agreement shall be governed by the laws of Delaware
applicable to contracts made and performed wholly therein.

               10. Notices. All notices, requests or demands under this Agreement shall be
in writing and will be deemed to have been duly given or delivered (a) when delivered by hand, (b)
one (1) day after being given to an express courier with a reliable system for tracking delivery,
(c) when sent by confirmed facsimile with a copy sent by another means specified in this Section
10, or (d) five (5) days after the date of mailing by certified or registered mail, return receipt
requested, postage prepaid, and addressed as follows:

     In the case of the Company:

OpenTV Corp.

275 Sacramento Street

San Francisco, California 94111

Fax : (415) 962-5300

Attn: General Counsel

     In the case of Optionee, to the Optionee at the address indicated on the signature page of
this Agreement,
or such other address, or to the attention of such other person, as the recipient party shall have
specified by prior written notice to the sending party, as reflected in the books and records of
the Company from time to time.

               11. Optionee Employment. Nothing contained in this Agreement, and no action
of the Company, the Board or the Committee with respect hereto, shall confer or be construed to
confer on Optionee any right to continue in the service of the Company or any of its Affiliates or
interfere in any way with the right of the Company or any Affiliate to terminate Optionee ‘s
service at any time, with or without Cause.

               12. Amendment. Notwithstanding any other provisions hereof, this Agreement
may be supplemented or amended from time to time as approved by the Committee as contemplated by
Section 10.8(b) of the Plan. Without limiting the generality of the foregoing, without the consent
of the Optionee:

                    (a) this Agreement may be amended or supplemented (i) to cure any ambiguity or to
correct or supplement any provision herein which may be defective or inconsistent with any other
provision herein, or (ii) to add to the covenants and agreements of the Company for the benefit of
Optionee or surrender any right or power reserved to or conferred upon the Company in this
Agreement, subject, however, to any required approval of the Company’s shareholders and, provided,
in each case, that such changes or corrections shall not adversely affect the rights of Optionee
with respect to the Option evidenced hereby, or (iii) to make such other changes as the Company,
upon advice of counsel, determines are necessary or advisable because of the adoption or
promulgation of, or change in or of the interpretation of, any law or governmental rule or
regulation, including any applicable federal or state securities laws; and

                    (b) subject to Section 10.8(b) of the Plan and any required approval of the
Company’s shareholders, the Option evidenced by this Agreement may be cancelled by the Committee
and a new Option granted in substitution therefor, provided that the Option so substituted shall
satisfy all of the requirements of the Plan as of the date such new Option grant is made and no
such action shall adversely affect the Option to the extent then exercisable.

               13. Optionee Acceptance. Optionee shall signify acceptance of the terms and
conditions of this Agreement by signing in the space provided at the end hereof and returning a
signed copy to the Company. This Agreement may be executed in any number of counterparts (i.e.,
duplicate originals) and on separate counterparts, each of which shall be deemed to be an original
instrument and all of which shall together constitute a single agreement.

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               14. Severability. Any provision of this Agreement which is held by a court
of competent jurisdiction to be invalid, illegal or unenforceable in any jurisdiction shall, as to
that jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability,
without affecting in any way the remaining provisions hereof in such jurisdiction or rendering that
or any other provisions of this Agreement invalid, illegal or unenforceable in any other
jurisdiction; provided, that if any provision hereof or the application thereof shall be so held to
be invalid, void or unenforceable by a court of competent jurisdiction, then such court may
substitute therefor a suitable and equitable provision in order to carry out, so far as may be
valid and enforceable, the intent and purpose of the invalid, void or unenforceable provision and,
if such court shall fail or decline to do so, the parties shall negotiate in good faith in an
effort to agree upon such a suitable and equitable provision.

               IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first set forth
above.

OPENTV CORP.

By:______________________________

      Name:

      Title:

               Optionee has had an opportunity to obtain the advice of counsel prior to executing this Option
and fully understands all provisions of the Option. Optionee further agrees to notify the Company
upon any change in the residence address indicated below.

	 	 	 
	Dated:_____________________________	 	_____________________________________

NAME OF OPTIONEE
	 	 	 
	 	 	
Residence Address:

5

 

EXHIBIT A

OpenTV Corp. 2003 Incentive Plan

[Filed as Exhibit 10.22]

 

 

EXHIBIT B

OpenTV Corp.

275 Sacramento Street

San Francisco, California 94111

Fax : (415) 962-5300

Attn: General Counsel

Exercise Notice

Gentlemen:

               Effective at the close of business
today, _________, 20___, the undersigned
(“Optionee”) hereby elects to exercise Optionee’s option to purchase ___Class A Ordinary Shares,
no par value (the “Shares”), of OpenTV Corp. (the “Company”), pursuant to the Stock Option
Agreement dated as of _________, 20___(the “Option Agreement”), between Optionee and the
Company, and hereby acknowledges, represents and agrees, for the benefit of the Company as follows:

          1. Option Agreement. Optionee has read and understands the Option Agreement
and the Plan and is bound by the terms and conditions thereof. Unless otherwise defined herein,
terms defined in the Option Agreement have the same meanings in this Exercise Notice.

          2. Rights as Shareholder. Until the stock certificate evidencing the Shares
has been issued (as evidenced by the appropriate entry on the books of the Company or of a duly
authorized transfer agent of the Company), no right to vote or receive dividends or any other
rights as a shareholder shall exist with respect to any Shares, notwithstanding the exercise of the
Option. No adjustment will be made for any dividend or other right for which the record date is
prior to the date the stock certificate is issued, except as provided in the Plan.

          3. Tax Consultation. Optionee understands that Optionee may incur tax
consequences as a result of Optionee’s purchase or disposition of the Shares. Optionee has
consulted with any tax consultants Optionee deems advisable in connection with the purchase or
disposition of the Shares and is not relying on the Company for any tax advice.

          4. Restrictive Legends and Stop-Transfer Orders.

               (a) Legends. Optionee agrees that, if, at the time the Option is exercised,
the issuance of Shares on exercise of the Option has not been registered pursuant to an effective
registration statement under the Securities Act of 1933, as amended, the Company (or its transfer
agent) may cause a legend in substantially the form set forth below, and/or such other legend or
legends as the Company, in its sole discretion, deems necessary, proper or advisable under U.S.
federal and applicable state securities laws and regulations, to be placed on any certificate(s)
evidencing ownership of the Shares:

“The securities represented by this certificate have not been registered under the
Securities Act of 1933, and may not be sold or otherwise transferred unless so
registered or unless an exemption from the registration requirements of such Act is
available for such sale or transfer.”

               (b) Stop-Transfer Notices; Refusal to Transfer. The Company may issue
appropriate “stop transfer” instructions to its transfer agent from time to time in order to ensure
compliance with the restrictions referred to herein. The Company shall not be required to transfer
on its books any Shares that have been sold or otherwise transferred in violation of any of the
provisions of this Exercise Notice or to treat as owner of such Shares or to accord the right to
vote or pay dividends to any purchaser or other transferee to whom such Shares shall have been
transferred.

 

 

          5. Successors and Assigns. This Exercise Notice shall be binding upon
Optionee, his heirs, executors, administrators, successors and assigns, and shall inure to the
benefit of the Company, its successors and assigns.

          6. Governing Law; Severability. This Exercise Notice shall be governed by
and construed in accordance with the laws of Delaware applicable to contracts made and performed
wholly therein. Should any provision of this Exercise Notice be determined by a court of law to be
illegal or unenforceable, the other provisions shall nevertheless remain in effect.

          7. Notices. Any notice required or permitted hereunder shall be given in
writing and shall be effectively given if given in accordance with Section 10 of the Option
Agreement.

          8. Further Instruments. The parties shall execute such further instruments
and take such further action as may be reasonably necessary to carry out the purposes and intent of
this Exercise Notice, the Plan and the Option.

          9. Delivery of Payment. Optionee herewith delivers to the Company the full
Exercise Price for the Shares, in accordance with Section 4 of the Option Agreement.

          10. Entire Agreement. The Option Agreement, the Plan and, if applicable,
the Investment Representation Letter are incorporated herein by reference. This Exercise Notice,
the Option Agreement, the Plan and, if applicable, the Investment Representation Letter constitute
the entire agreement of the parties with respect to the subject matter hereof and supersede in
their entirety all prior undertakings and agreements of the Company and Optionee with respect to
the subject matter hereof, and may not be modified adversely to the Optionee’s interests except by
means of a writing signed by the Company and Optionee.

B-2

 

	 	 	 
	Submitted by:	 	
Accepted by:
	 	 	 
	OPTIONEE:	 	
OPENTV CORP.
	 	 	 
	 	 	
By:______________________________
	 	 	
Its:______________________________
	______________________________
(Signature)	 	 
	 	 	 
	Address:	 	 
	 	 	 
	______________________________	 	 

B-3

 

EXHIBIT C

OpenTV Corp.

275 Sacramento Street

San Francisco, California 94111

Fax : (415) 962-5300

Attn: General Counsel

Investment Representation Letter

Gentlemen:

               In connection with the purchase of Class A Ordinary Shares, no par value (the “Shares”), of
OpenTV Corp. (the “Company”), by exercise of that certain Stock Option Agreement dated as of
_________20___, between the undersigned (“Optionee”) and the Company, Optionee hereby represents
and warrants to the Company as follows:

               (a) Optionee is knowledgeable with respect to the business of the Company and
financial affairs and has acquired sufficient information about the Company to reach an informed
and knowledgeable decision to acquire the Shares. Optionee is acquiring the Shares for investment
for Optionee’s own account only and not with a view to, or for resale in connection with, any
“distribution” thereof within the meaning of the Securities Act of 1933, as amended (the
“Securities Act”).

               (b) Optionee acknowledges and understands that the Shares constitute “restricted
securities” under the Securities Act and have not been registered under the Securities Act in
reliance upon a specific exemption therefrom, which exemption depends upon, among other things, the
bona fide nature of Optionee’s investment intent as expressed herein. In this connection, Optionee
understands that, in the view of the Securities and Exchange Commission, the statutory basis for
such exemption may be unavailable if Optionee’s representation was predicated solely upon a present
intention to hold these Shares for the minimum capital gains period specified under tax statutes,
for a deferred sale, for or until a given increase or decrease in the market price of the Shares,
or for a period of one year or any other fixed period in the future.

               (c) Optionee is familiar with the provisions of Rule 144 promulgated under the
Securities Act, which, in substance, permits limited public resale of “restricted securities”
acquired, directly or indirectly from the issuer thereof, in a non-public offering subject to the
satisfaction of certain conditions, including: (1) the resale to occur not less than one year after
the Shares were acquired, (2) the resale being made through a broker in an unsolicited “broker’s
transaction” or in transactions directly with a market maker (as said term is defined under the
Securities Exchange Act of 1934); and, in the case of an affiliate, or a nonaffiliate who has held
the Shares less than two years, (3) the availability of certain public information about the
Company, (4) the amount of Shares being sold during any three-month period not exceeding the
limitations specified in Rule 144(e), and (5) the timely filing of a Form 144, if applicable.

               (d) Optionee further understands that in the event all of the applicable
requirements of Rule 144 are not satisfied, registration under the Securities Act, compliance with
Regulation A or some other registration exemption will be required in connection with any transfer
of Shares; and that, notwithstanding the fact that Rule 144 is not exclusive, the Staff of the
Securities and Exchange Commission has expressed its opinion that persons proposing to sell private
placement securities other than in a registered offering and otherwise than pursuant to Rule 144
will have a substantial burden of proof in establishing that an exemption from registration is
available for such offers or sales, and that such persons and their respective brokers who
participate in such transactions do so at their own risk. Optionee understands that no assurances
can be given that any such other registration exemption will be available in such event.

C-1

 

Signature of Optionee:

___________________________

Date: ___________, 20___

C-2EX-10.15

 

DATED
23rd
September 2003

(1) GARTNER GROUP UK LIMITED

-and-

(2) Alister Christopher

SERVICE AGREEMENT

1

 

INDEX

	 	 	 	 	 	 	 
	Clause Heading	 	Page No.
	1.

	 	Appointment
	 	 	3	 
	2.

	 	Term
	 	 	3	 
	3.

	 	Duties and Powers
	 	 	3	 
	4.

	 	Obligations
	 	 	4	 
	5.

	 	Information
	 	 	4	 
	6.

	 	Remuneration
	 	 	4	 
	7.

	 	Pension
	 	 	5	 
	8.

	 	Medical and Life Assurance
	 	 	5	 
	9.

	 	Expenses
	 	 	5	 
	10.

	 	Car
	 	 	5	 
	11.

	 	Holidays
	 	 	6	 
	12.

	 	Secrets and Confidential Information
	 	 	6	 
	13.

	 	Company Property
	 	 	6	 
	14.

	 	Termination
	 	 	6	 
	15.

	 	Sickness
	 	 	7	 
	16.

	 	Provisions after Termination
	 	 	8	 
	17.

	 	Directorship
	 	 	10	 
	18.

	 	Sale of Undertaking or Reconstruction
	 	 	10	 
	19.

	 	Notices
	 	 	10	 
	20.

	 	Schedule 1
	 	 	10	 
	21.

	 	Other Agreements
	 	 	11	 
	22.

	 	Effect of Termination
	 	 	11	 
	23.

	 	Legal Reference
	 	 	11	 

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THIS AGREEMENT is made on 18 August 2003.

BETWEEN:-

	(1)  	GARTNER GROUP UK LIMITED of Tamesis, The Glanty, Egham, Surrey, TW20 9AW (the “Company”); and
	 
	(2)  	ALISTER CHRISTOPHER (the “Executive”) of 30 Edward Road, Clevedon Somerset, BS21 7DS

RECITAL

	(A)  	The Company has requested the Executive to serve the Company as an executive of the
Company as from 18 August 2003 (the “Starting Date”) on the terms and conditions contained in this
Agreement and the Executive has agreed so to do.
	 
	(B)  	In this Agreement “Group Company” means any one of the Company, its subsidiaries, its holding
company or any subsidiary of its holding company (in each case as defined by section 736 of the
Companies Act 1985) and “the Group” has the corresponding meaning.
	 
	(C)  	For the purposes of seniority and the calculation of benefits, the Executive’s start date
with the Company will remain 19th August 1996.

IT IS HEREBY AGREED as follows:-

	1.    	Appointment
	 
	   	The Company shall employ the Executive and the Executive shall serve the Company as
SVP Worldwide Events, upon the terms and conditions following.
	 
	2.    	Term

	 	2.1  	The appointment under this Agreement commenced on the Starting Date (18 August 2003).
	 
	 	2.2  	The Executive’s employment will be deemed to be confirmed and continuing
until determination in accordance with section 14.1 below or by not less than twelve
months notice in writing given by the Company to the Executive, or not 1ess than
three months notice in writing given by the Executive to the Company.
	 
	 	2.3  	The Executive agrees that at its absolute discretion the Company may terminate the
Executive’s employment under this Agreement with immediate effect by paying the
Executive his target earnings in lieu of the notice period, unless such termination is in
accordance with section 14.1
	 
	 	2.4  	Notwithstanding the provision of clause 2.1 the Executive’s employment under the
Agreement will terminate on the Executive’s 60th birthday, but may be
extended by agreement.

	3.    	Duties and Powers

	 	3.1  	The Executive shall exercise and perform such duties and exercise such powers on
behalf of the Company or any Group Company as may from time to time be assigned or
delegated to or vested in him by the Board of Directors of the Company (the

3

 

	 	   	“Board”), subject to such reasonable directions and restrictions as the Board
may from time to time give or impose. The Company may from time to time within
reason, bearing in mind the Executive’s previous responsibilities, vary the type
and nature of the work to be carried on by the Executive, and the responsibilities
connected with those duties.
	 
	 	3.2  	The Executive shall perform his duties at the Company’s offices at Tamesis,
The Glanty, Egham, Surrey, TW20 9AW or at such other place of business of the
Company or any Group Company within the UK [or abroad] as may be agreed
between the Executive and the Company from time to time. The Executive may also
be required to attend meetings at any offices maintained by the Group or in the cities
where such offices are maintained, as well as to travel abroad on the business of the
Group in accordance with the nature of the Executive’s responsibilities.
	 
	 	3.3  	If and for so long as he is required by the Company, the Executive shall serve as a
director and/or officer of the Company or any other Group Company. The Executive
will carry out the duties attendant on any such appointment as if he performed them
on behalf of the Company under this Agreement.

	4.    	Obligations

During the continuance of this Agreement the Executive shall unless prevented by ill
health or accident:-

	 	4.1  	devote the whole of his time, skill, ability and attention during working hours
to the business of the Group.
	 
	 	4.2  	in all respects conform to and comply with the reasonable directions and
regulations given and made by the Board.
	 
	 	4.3  	well and faithfully serve the Group and use his best endeavours to promote its
interests;
	 
	 	4.4  	co-operate to the fullest extent with the Board, any Directors or servants of the
Group; and
	 
	 	4.5  	enter into the Company’s Deed of Restrictive Covenant and comply fully at all
times with its terms subject to the proviso that where any term of the Deed of Restrictive
Covenant conflicts with a term of this Agreement, this Agreement will apply.

	5.    	Information

The Executive shall at a 11 times promptly give to the Board (in writing if so required)
all information, advice and explanations as it may require in connection with matters
relating to his employment under this Agreement.

	6.    	Remuneration

The Executive shall (subject to the provisions of this clause) be eligible, by way of
remuneration for his services under this Agreement, to target earnings at the rate of
£265,000 per annum. This comprises of a base salary of £180,000 per annum, paid in twelve
monthly instalments at the end of each calendar month (less applicable statutory
deductions) and a discretionary bonus, which is a variable element targeted at a maximum of
£85,000 per annum (less applicable statutory deductions). The discretionary bonus is only
triggered if the

4

 

Company meets its performance targets and the Executive meets his defined personal
objectives. The payout of any discretionary bonus is at the discretion of the Company and is
subject to the achievement of the above targets and the Executive being employed and not
under notice of termination of employment for any reason on the bonus payment date. Bonus
payments are usually made in the first quarter of the next fiscal year. Bonuses will not be
paid if the Executive leaves the Company before bonus payments are issued. The Executive’s
performance objectives will be determined by the Company and assigned when the Executive
joins the Company and annually thereafter.

Normal on-target earning reviews are subject to performance and take place after the
conclusion of the fiscal year.

	7.  	Pension

The Company’s contribution to the pension scheme will be 6% of the Executive’s target
earnings for the first 2 years of service, and 8% of the Executive’s target earnings
thereafter provided the Executive contributes 2% of his target earnings, to the Company
Pension Plan.

	8.  	Medical and Life Assurance

The Company will at its cost provide the Executive with life assurance to three times of
target earnings and permanent health assurance, subject to the rules of each Plan in force
at that time, and satisfactory completion of any medical underwriting requirements. Private
Health Care will be provided for the Executive and his family (including cover for any
historical or current conditions). The Company reserves the right to amend and/or replace
any of these plans at any time.

	9.  	Expenses

The Company shall reimburse to the Executive all reasonable travelling, hotel and other
out-of-pocket expenses properly incurred by him in or about the performance of his duties
hereunder, upon production by the Executive of all appropriate invoices evidencing such
expenses in accordance with the policies of the Company in effect from time to time.

	10.  	Car

	 	10.1  	The Company shall provide for the Executive’s use, both for business and
private purposes, a fully expensed car equivalent to a lease value of £850 per month or a
car allowance to the value of £1000 per month, in accordance with Company policy.
	 
	 	10.2  	If a car is provided, it shall be the responsibility of the Executive to
maintain the car in accordance with the Company Car Policy and to keep adequate records in relation
to business use in such form and details as may be necessary to satisfy any queries
in relation to it which may be raised by the Inland Revenue in connection with the
Executive’s tax affairs and the Executive shall be responsible for the payment of
any taxes that may be assessed on him for the use of such motor car.
	 
	 	10.3  	The Executive shall return any car provided and its keys to the Company’s
registered office immediately upon the termination for whatever reason of his employment
under this Agreement, or at any other reasonable time, if so requested, for the
purposes of inspection.

5

 

	11.  	Holidays

The Executive shall in addition to the usual statutory holidays (according to the
Company’s policy) be entitled to 24 days holiday in any calendar year. The holiday shall
accrue on a pro rata basis throughout each calendar year. Such holidays are to be taken at
such time or times as may be agreed with the Company and may not, without the consent of
the Company, be carried forward into the next holiday year.

	12.  	Secrets and Confidential Information

	 	12.1  	The Executive shall not (except with the prior written consent of the Board)
during the continuance of this Agreement or at any time thereafter, disclose the private
affairs, secrets or confidential information of the Company or any Group Company
relating to the affairs of the Company or any Group Company or any customer of the
Company or any Group Company which he may learn while in the employment of
the Company to any unauthorised person and shall not use for his own purpose any
such information which he may acquire in relation to the business of the Company or
any Group Company except that which may be in or become part of the public
domain other than through any act or default of the Executive.
	 
	 	12.2  	The termination of this Agreement shall not operate to terminate the
provisions of this clause which, after such termination, shall remain in full force and effect and
binding on the Executive in so far as it relates to trade secrets of the Company or any
Group Company.

	13.  	Company Property

The Executive shall promptly whenever required by the Company and in any event upon
the termination of this Agreement (for whatsoever cause) deliver up to the Company or its
authorised representatives all statistics, documents, records or papers which may be in his
possession or under his control and relate in any way to the property, business or affairs
of the Company or any Group Company and which is the property of the Group, including the
Company car and keys; no copies shall be retained by him and he shall at the same time
deliver up to the Company or its authorised representatives all other property of the
Company or any Group Company in his possession or under his control.

	14.  	Termination

	 	14.1  	The Company may at any time terminate this Agreement forthwith without payment
of any compensation damages or remuneration for subsequent periods payable by virtue
of common law or any statute by serving notice in writing upon the Executive, if the
Executive:-

	 	14.1.1  	is a Director or officer of the Company or any Group Company and resigns
as a Director or officer of the Company or any Group Company without the
consent of the Company; or
	 
	 	14.1.2  	shall be adjudicated bankrupt or be disqualified or prohibited by 1aw from
being a director or officer; or
	 
	 	14.1.3  	shall be guilty of gross misconduct in the course of his employment; or
	 
	 	14.1.4  	is convicted of any criminal offence under UK or European law (other than a
motoring offence for which no custodial sentence is made upon him);

6

 

	 	14.1.5  	shall be guilty of conduct which affects or in the reasonable opinion of the
Board is likely to affect prejudicially the interests of the the Group or
himself;
	 
	 	14.1.6  	in the reasonable opinion of the Board (after having received a written
warning from the Chief Executive) is guilty of any serious or repeated
breach of his & obligations under this agreement.

	 	14.2  	Any delay or forbearance by the Company in exercising any right of termination
	 	   	hereunder shall not constitute a waiver of such right.
	 
	 	14.3  	Without prejudice to clause 3 after notice of termination has been given by either
party pursuant to clause 2 or if the Executive seeks to or indicates an intention to
terminate his employment, provided the Executive continues to be paid his base
salary and enjoys his full contractual benefits until his employment terminates in
accordance with the terms of this Agreement, the Company may in its absolute
discretion for all or part of the notice period:-

	 	14.3.1  	exclude the Executive from the premises of the Company and/or any Group
Company;
	 
	 	14.3.2  	require him to carry out specified duties other than those referred to in clause
3 or carry out no duties;
	 
	 	14.3.3  	announce to employees, suppliers and customers that he has been given
notice of termination or has resigned, by mutual written consent;
	 
	 	14.3.4  	instruct the Executive not to communicate orally or in writing with suppliers,
customers, employees, agents or representatives of the Company or Group
Company until his employment has terminated and thereafter to act in
accordance with his post termination obligations.

	15.  	Sickness

	 	15.1  	If the Executive is at any time prevented by ill health from performing his duties
under this Agreement he shall, if required, furnish the Board with evidence
satisfactory to them of his incapacity. Payment during any period of absence will be
in accordance with the Company and Statutory Sick Pay Policy.
	 
	 	15.2  	In the event that the Board reasonably considers that, by reason of physical or mental
ill health, the Executive is unfit properly to carry out his duties under this Agreement
the Executive may be suspended from carrying out those duties for so long as such ill
health continues.
	 
	 	15.3  	In the event of ill health the Executive may be requested to provide such evidence of
ill health as the Company may require. Should this request be made, the Executive
shall not receive any part of his remuneration attributable to statutory sick pay
unless he complies with the requirements for certification and the Company shall deduct
from remuneration due to him any sums in respect of statutory sick pay which are
paid to the Executive, or would have been so payable had he complied with the
provisions of this Clause 15.3. In the case of prolonged or frequent absences the
Company may request the Executive to co-operate in providing medical evidence or
undergoing a medical examination arranged by the Company with a view to

7

 

	 	   	establishing his likely future fitness for work and if such evidence is not
forthcoming or evidences the fact that the Executive will be unable to carry out in
all material respects his duties as set out in the Agreement the Company may
terminate this Agreement upon six months notice whether or not any of the periods
mentioned in Clause 15.1 has been exceeded. The Executive will also undergo from
time to time periodical medical examinations in accordance with Company policy. The
provisions of this clause in no way effect the Executive’s rights under the
permanent health assurance scheme.

	16.  	Provisions after Termination

	 	16.1  	For the purpose of this Clause:-

	 	 	 	 	 
	

	 	16.1.1 “Restricted Company”
	 	shall mean any company within the Group in
which the Executive was actively involved;
	 
	 	 	 	 
	

	 	16.1.2 “Restricted Person”
	 	shall mean any person who at the date of
termination of the Executive’s employment
or at any time during the period of one
year prior to such date is or, as the case
may be, has been a customer of a Restricted
Company with whom the Executive has dealt
with in respect of Restricted Products
and/or Restricted Services;
	 
	 	 	 	 
	

	 	16.1.3 “Restricted Products”
	 	means all products with which the Executive
was concerned in the ordinary course of his
duties as an employee in any Restricted
Company or in relation to which he
possessed any confidential information and
which have been produced, marketed, sold or
otherwise dealt in by the Restricted
Company in the ordinary course of its
business and in respect of which the
Restricted Company has not discontinued
such production marketing sale or dealings
for a period of 6 months prior to the date
of termination of this Agreement;
	 
	 	 	 	 
	

	 	16.1.4 “Restricted Services”
	 	means those services with which the
Executive was concerned in the ordinary
course of his duties as employee or in
relation to which he possessed any
confidential information and which have
been provided by the Restricted Company in
the ordinary course of its business and in
respect of which the Restricted Company has
not discontinued such provision for a
period of six months prior to the date of
termination of his Agreement.

	 	16.2  	The Executive in the course of his employment and directorship is likely to
obtain knowledge of trade secrets and other confidential information of the Restricted
Companies from time to time and will have dealings with the customers and suppliers

8

 

of Restricted Companies and in order to protect such trade secrets and other confidential
information and the goodwill of Restricted Companies the Executive hereby covenants that he
will not during the period of his employment with a Restricted Company and for a period of
12 months from the date of termination of the Executive’s employment (the “Termination
Date”)(other than in the case of Clause 16.2.8 and 16.2.9 below which shall apply
indefinitely) and within the United Kingdom either directly or indirectly :-

	 	16.2.1  	be engaged, interested or concerned (whether as a shareholder, director,
partner, consultant, proprietor, agent or otherwise) in carrying on any
business competitive with the Restrictive Products or Restrictive Services;
	 
	 	16.2.2  	canvass or solicit business, orders or custom for Restrictive Products or
Restrictive Services from any Restricted Person;
	 
	 	16.2.3  	have any commercial dealings in respect of any Restricted Products or
Restricted Services with any Restricted Person;
	 
	 	16.2.4  	solicit or entice away or endeavour to entice away from a Restricted
Company any person who had been at any time within the period of one year
immediately preceding the termination of the Executive’s employment a
director or senior employee of a Restricted Company with whom the
Executive had dealt with;
	 
	 	16.2.5  	encourage or induce any person who is contracted to provide services to a
Restricted Company to cease so to provide such services in breach of any
contract he may have with a Restricted Company;
	 
	 	16.2.6  	employ in any capacity or offer employment in any capacity to or enter into
or offer to enter into partnership with any person in relation to whom Clause
16.2.4 is applicable;
	 
	 	16.2.7  	entice or endeavour to entice away from a Restricted Company any
Restricted Person or induce or attempt to induce any supplier of a Restricted
Company to cease to supply, or to restrict or vary the terms of supply, to a
Restricted Company;
	 
	 	16.2.8  	at any time following the cessation of his employment with a Restricted
Company represent himself or permit himself to be held out as being in any
way as continuing to be connected with or interested (except as shareholder if
that is the case) in the business of such company;
	 
	 	16.2.9  	except so far as may be required by law, at any time use or disclose to any
person any private affairs, secrets or confidential information which he has
acquired in the course of or as a result of his employment by a Restricted
Company or his ownership of shares in the capital of a Restricted Company.

	 	16.3  	The Executive shall not induce, procure or authorise any other person firm
corporation or organisation to do or procure to be done anything which if done by the
Executive would be a breach of any of the provisions of Clause 16.2
	 
	 	16.4  	If the Company exercises it right to suspend the Executives duties and powers under
Clause 14.3 during any period after notice of termination of employment has been
given by the Company or the Executive, the period after the Termination Date for

9

 

	 	   	which the restrictions in Clause 16.2 apply shall be reduced accordingly by
the period of time that the Executive spends on garden leave.
	 
	 	16.4  	Each of the restrictions contained in Clauses 16.2.1, 16.2.2, 16.2.3,
16.2.4, 16.2.5, 16.2.6, 16.2.7, 16.2.8 and Clause 16.3 shall be construed as a
separate restriction and is considered reasonable by the parties but in the event
that any such restriction shall be found to be void but would be valid if some part
thereof were deleted such restriction shall apply with such deletion as may be
necessary to make it valid and effective.

	17.  	Directorship

	 	17.1  	In the event of the Executive holding office as a Director of the Company or
any Group Company at the date of his giving or being given notice terminating his
employment within the Group (for any reason whatsoever) he shall forthwith, if so
required by the Board, resign such Directorship without any compensation whatever,
(without prejudice to any right of compensation under this Agreement) but, subject to
Clause 2, shall remain an employee of the Company until the expiry of the period of
notice.

	18.  	Sale of Undertaking or Reconstruction

	 	18.1  	If at any time during the continuance of this Agreement the Company sells all,
or a substantial part of, its undertaking and assets to any person, firm or company and the
Company is able to procure the employment of the Executive by such other person,
firm or company on terms not less favourable than the terms of this Agreement
remaining unexpired at the date of the Agreement for such sale then the Company
shall be entitled (notwithstanding the provisions of clause 2 hereof) to determine this
Agreement forthwith on giving notice in writing to the Executive and in the event of
the Executive not accepting the employment by such other person, firm or company,
he shall not be entitled to any compensation from the Company for loss of office or
damages for breach of this Agreement, other than normal.
	 
	 	18.2  	In the event of this Agreement being terminated by reason of liquidation of the
Company or the transfer of all or a substantial part of the Company’s business or
assets for the purpose of amalgamation or reconstruction and the Executive being
offered employment with such reconstructed or amalgamated company or group of
companies on terms not less favourable than the terms of this Agreement, then
(notwithstanding anything to the contrary contained in this Agreement) the Executive
shall have no claim against the Company in respect of such determination of this
Agreement, other than normal notice and redundancy compensation.

	19.  	Notices

Any Notice under this Agreement shall be given in writing by either party to the other and
may be delivered or sent by first-class recorded post addressed, in the case of the
Company, to its registered office and in the case of the Executive, to his address last
known to the Company. Any such notice shall, in the case of delivery, be deemed to have
been served at the time of delivery.

	20.  	Schedule 1

The provisions set out in Schedule 1 to this Agreement shall apply to this Agreement
for the purposes of the Employment Rights Act 1996 but may from time to time be varied by
mutual

10

 

agreement or from time to time be replaced. Any such written amendments or
replacements shall be evidenced by the initials of the Executive and a Director or other
Officer duly authorised on behalf of the Company.

	21.  	Other Agreements

The Executive acknowledges and warrants that there are no agreements or arrangements
whether written, oral or implied between the Company or any other Group Company, and the
Executive relating to the employment of the Executive other than those expressly set out
in this Agreement, which expressly supersede all previous arrangements between the Company
or any other Group Company and the Executive as to the employment of the Executive and
that he is not entering into this Agreement in reliance upon any representation not
expressly set out in this Agreement.

	22.  	Effect of Termination

The expiration or determination of this Agreement however it arises shall not operate to
affect such of the provisions of this Agreement as are expressed to operate or have effect
after its determination or expiration hereto and shall be without prejudice to any other
accrued rights or remedies of the parties.

	23.  	Governing Law

This contract is governed by and construed in accordance with English law.

	24.  	Third Party Rights

Except for enforcement obligations of the Group, a person who is not a party to this
agreement may not enforce any of its terms under the Contracts (Rights of Third Parties)
Act 1999.

11

 

SCHEDULE 1

Requirements of the Employment Rights Act 1996

So far as not already taken
into account: -

	(a)  	All holidays will be on full pay but the Executive will be entitled to any accrued
holiday pay on the termination of employment.
	 
	(b)  	The Executive’s normal working hours are such hours as are consistent with his
position as specified in Clause 1. The Executive will, without additional remuneration, from time to time work such further hours (including at weekends) as
are reasonably necessary in order for him properly to carry out his duties under this
Agreement. [The Executive agrees that Regulations 4(1) and (2), 6(1), (2) and (7),
10(1), 11(1) and (2) and 12(1) of the Working times Regulations 1998 (48 hour week,
night work, rest periods etc) do not apply to the Executive’s employment.]
	 
	(c)  	In the event of the Executive wishing to seek redress of any grievance relating to his
employment he should lay his grievance before the Board in writing, who will afford
the Executive the opportunity of a full and fair hearing before the Board or a
committee of the Board whose decision on such grievance shall be final and binding.
	 
	(d)  	There are no specific disciplinary rules and procedures relating to this employment
agreement, other than generic Gartner policies.
	 
	(e)  	The provisions of any booklet, information sheet or notice published from time to
time and setting out the rights and duties of all or specified categories of Group
employees shall apply to this Schedule as if here set out verbatim, save insofar as any
such provisions conflict with this Schedule or the Agreement of which it forms part.
	 
	(f)  	The title of the Executive’s job is as stated in Clause 1 of this Agreement.
	 
	(g)  	There are no collective agreements in force in relation to the Executive’s employment.
	 
	(h)  	A contracting-out certificate is in force with regard to the employment of the
Executive.

12

 

AS WITNESS the hands of the parties or their duly authorised representatives on the date shown
on the first page.

	 	 	 	 	 
	SIGNED by Alan Miller

	 	 	)	 
	for and on behalf of

	 	 	)	 
	Gartner Group

	 	 	)	 
	in the presence of:-

	 	 	)	 

 
 
 
 

Witness Signature: 

Name: LUCY WEBB

Address:

Occupation: ASSISTANT

	 	 	 	 	 
	SIGNED by Alister Christopher

	 	 	)	 
	in the presence of:-

	 	 	)	 

Witness Signature: 

Name: A. PEMBERTON

Addres:

Occupation: SENIOR CO-ORDINATOR

13

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