Document:

Debt Resolution Agreement

 

TetriDyn Solutions, Inc. (the “Company”) had amounts due to David W. Hempstead (a shareholder) for funds loaned to the Company and for Company expenditures covered by Mr. Hempstead. The balances due to Mr. Hempstead at April 20, 2007 was $77,750.85. The notes payable bear interest at 6% per annum, resulting in the Company owing Mr. Hempstead an additional $6,329.36 in accrued interest.

 

On April 20, 2007, the Company offered and Mr. Hempstead accepted an agreement for the Company to pay the debt to Mr. Hempstead in the Company’s common stock, based on the fair value at closing that day. On April 20, 2007, the Company’s common stock closed at $0.20 per share. As a result, the Company will issue 420,401 shares of common stock for the cancellation of the debt to Mr. Hempstead.

 

Both of the above parties indicate their concurrence with the above agreement by signing below.

 

 

/s/ David W. Hempstead_______________

David W. Hempstead

 

 

/s/ Orville J. Hendrickson______________

Orville J. Hendrickson, Director

 

 

/s/ Larry J. Ybarrondo__________________

Larry J. Ybarrondo, Director

 

 

1651 Alvin Ricken Drive, Pocatello, Idaho 83201 (208) 232-4200QuickLinks
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Exhibit 10.5.1    
    

NON-QUALIFIED STOCK OPTION AGREEMENT

(FOR NON-EMPLOYEE DIRECTORS)

UNDER TECHTARGET, INC.

2007 STOCK OPTION AND INCENTIVE PLAN 

Name
of
Optionee:                                       
                   

No. of Option
Shares:                                        
                  

Option Exercise Price per Share:
$                                         
                 

Grant
Date:                                        
                  

Expiration
Date:                                        
                  
 

        Pursuant
to the TechTarget, Inc. 2007 Stock Option and Incentive Plan as amended from time to time (the "Plan"), TechTarget, Inc. (the "Company") hereby grants to the
Optionee named above, who is a Director of the Company but is not an employee of the Company, an option (the "Stock Option") to purchase on or prior to the Expiration Date specified above all or part
of the number of shares of Common Stock, par value $0.001 per share (the "Stock"), of the Company specified above at the Option Exercise Price per Share specified above subject to the terms and
conditions set forth herein and in the Plan. This Stock Option is not intended to be an "incentive stock option" under Section 422 of the Internal Revenue Code of 1986, as amended. 

        1.    Exercisability Schedule.    No portion of this Stock Option may be exercised until such portion shall have
become exercisable. Except as set forth below, and subject to the discretion of the Committee (as defined in Section 1 of the Plan) to accelerate the exercisability schedule hereunder, this
Stock Option shall be exercisable with respect to the following number of Option Shares on the dates indicated: 

	Incremental Number of

Option Shares Exercisable
	 	Exercisability Date

	(    %)	 	 
	(    %)	 	 
	(    %)	 	 
	(    %)	 	 
	(    %)	 	 

        In
the event of the termination of the Optionee's service as a director of the Company because of death, this Stock Option shall become immediately exercisable in full, whether or not
exercisable at such time. Once exercisable, this Stock Option shall continue to be exercisable at any time or times prior to the close of business on the Expiration Date, subject to the provisions
hereof and of the Plan. [Upon the occurrence of a Sale Event, [—]% of the unexercisable portion of this Stock Option shall become exercisable at the
effective time of such Sale Event.] 

        2.    Manner of Exercise.    

        (a)   The
Optionee may exercise this Stock Option only in the following manner: from time to time on or prior to the Expiration Date of this Stock Option, the Optionee may
give written notice to the Committee of his or her election to purchase some or all of the Option Shares purchasable at the time of such notice. This notice shall specify the number of Option Shares
to be purchased. 

        Payment
of the purchase price for the Option Shares may be made by one or more of the following methods: (i) in cash, by certified or bank check or other instrument acceptable to
the Committee; (ii) through the delivery (or attestation to the ownership) of shares of Stock that have been purchased by the Optionee on the open market or that are beneficially owned by the
Optionee and are not then subject to any restrictions under any Company plan and that otherwise satisfy any holding periods as may be required by the Committee; (iii) by the Optionee delivering
to the Company a properly executed exercise notice together with irrevocable instructions to a 

 

broker
to promptly deliver to the Company cash or a check payable and acceptable to the Company to pay the option purchase price, provided that in the event the Optionee chooses to pay the option
purchase price as so provided, the Optionee and the broker shall comply with such procedures and enter into such agreements of indemnity and other agreements as the Committee shall prescribe as a
condition of such payment procedure; or (iv) a combination of (i), (ii) and (iii) above. Payment instruments will be received subject to collection. 

        The
transfer to the Optionee on the records of the Company or of the transfer agent of the Option Shares will be contingent upon the Company's receipt from the Optionee of full payment
for the Option Shares, as set forth above and any agreement, statement or other evidence that the Company may require to satisfy itself that the issuance of Stock to be purchased pursuant to the
exercise of Stock Options under the Plan and any subsequent resale of the shares of Stock will be in compliance with applicable laws and regulations. In the event the Optionee chooses to pay the
purchase price by previously-owned shares of Stock through the attestation method, the number of shares of Stock transferred to the Optionee upon the exercise of the Stock Option shall be net of the
Shares attested to. 

        (b)   The
shares of Stock purchased upon exercise of this Stock Option shall be transferred to the Optionee on the records of the Company or of the transfer agent upon
compliance to the satisfaction of the Committee with all requirements under applicable laws or regulations in connection with such transfer and with the requirements hereof and of the Plan. The
determination of the Committee as to such compliance shall be final and binding on the Optionee. The Optionee shall not be deemed to be the holder of, or to have any of the rights of a holder with
respect to, any shares of Stock subject to this Stock Option unless and until this Stock Option shall have been exercised pursuant to the terms hereof, the Company or the transfer agent shall have
transferred the shares to the Optionee, and the Optionee's name shall have been entered as the stockholder of record on the books of the Company. Thereupon, the Optionee shall have full voting,
dividend and other ownership rights with respect to such shares of Stock. 

        (c)   The
minimum number of shares with respect to which this Stock Option may be exercised at any one time shall be 100 shares, unless the number of shares with respect to
which this Stock Option is being exercised is the total number of shares subject to exercise under this Stock Option at the time. 

        (d)   Notwithstanding
any other provision hereof or of the Plan, no portion of this Stock Option shall be exercisable after the Expiration Date hereof. 

        3.    Termination as Director.    If the Optionee ceases to be a director of the Company, the period within which to
exercise the Stock Option may be subject to earlier termination as set forth below. 

        (a)    Termination by Reason of Death.    If the Optionee ceases to be a Director by reason of the Optionee's death,
any portion of this Stock Option outstanding on such date may be exercised by his or her legal representative or legatee for a period of  [12] months from the date of death or until the Expiration Date,
if earlier. 

        (b)    Other Termination.    If the Optionee ceases to be a Director for any reason other than the Optionee's death,
any portion of this Stock Option outstanding on such date may be exercised for a period of [six] months from the date of
termination or until the Expiration Date, if earlier. 

        4.    Incorporation of Plan.    Notwithstanding anything herein to the contrary, this Stock Option shall be subject to
and governed by all the terms and conditions of the Plan, including the powers of the Committee set forth in Section 2(b) of the Plan. Capitalized terms in this Agreement shall have the meaning
specified in the Plan, unless a different meaning is specified herein. 

2

 

        5.    Transferability.    This Agreement is personal to the Optionee, is non-assignable and is not
transferable in any manner, by operation of law or otherwise, other than by will or the laws of descent and distribution. This Stock Option is exercisable, during the Optionee's lifetime, only by the
Optionee, and thereafter, only by the Optionee's legal representative or legatee. 

        6.    No Obligation to Continue as a Director.    Neither the Plan nor this Stock Option confers upon the Optionee any
rights with respect to continuance as a director. 

        7.    Notices.    Notices hereunder shall be mailed or delivered to the Company at its principal place of business and
shall be mailed or delivered to the Optionee at the address on file with the Company or, in either case, at such other address as one party may subsequently furnish to the other party in writing. 

        8.    Amendment.    Pursuant to Section 18 of the Plan, the Committee may at any time amend or cancel any
outstanding portion of this Stock Option, but no such action may be taken that adversely affects the Optionee's rights under this Agreement without the Optionee's consent. 

	 	 	TECHTARGET, INC.
	

 	
 	

By:	
 	

 
	 	 	 	 	
 Title:

        The foregoing Agreement is hereby accepted and the terms and conditions thereof hereby agreed to by the undersigned. 

	Dated:	 	 	 	 
	 	 	
	 	
 Optionee's Signature
	

 	
 	

 	
 	

Optionee's name and address:
	 	 	 	 	

	 	 	 	 	

	 	 	 	 	

3

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Exhibit 10.5.1

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