Document:

Form of Performance-Based Restricted Stock Unit Award Agreement  (TSR)

 Exhibit 10.40 
 ALLSCRIPTS HEALTHCARE SOLUTIONS, INC. 
 Performance-Based Restricted
Stock Unit Award Agreement 
 Performance-Based Vesting – Relative TSR 

THIS AGREEMENT is made as of
                    , 2011 (the “Grant Date”), by and between Allscripts Healthcare Solutions, Inc., a Delaware corporation
(“Company”), and «First_Name» «Last_Name» («Last_Name») 
 WHEREAS,
«Last_Name» is expected to perform valuable services for the Company and the Company considers it desirable and in its best interests that «Last_Name» be given a proprietary interest in the Company and an incentive to advance
the interests of the Company by possessing units that are settled in shares of the Company’s Common Stock, $.01 par value per share (the “Common Stock”), in accordance with the Company’s Amended and Restated 1993 Stock Incentive
Plan (the “Plan”). 
 NOW THEREFORE, in consideration of the foregoing premises, it is agreed by and between
the parties as follows: 
  

	1.	Grant of Performance-Based Restricted Stock Units. 

  

	 	(a)	Grant. Subject to the terms and conditions set forth in this Agreement and the Plan, the Company hereby grants to «Last_Name» a target award of
             performance-based restricted stock units (the “Performance-Based Restricted Stock Unit Award”), which shall vest and become unrestricted in accordance with
Section 2 hereof. 

  

	 	(b)	Transferability. Performance-based restricted stock units subject to the Performance-Based Restricted Stock Unit Award and not then vested and unrestricted may
not be sold, transferred, pledged, assigned, alienated, hypothecated, encumbered or otherwise disposed of (whether by operation of law or otherwise) or be subject to execution, attachment or similar process. Upon any attempt to so sell, transfer,
assign, pledge, alienate, hypothecate or encumber, or otherwise dispose of such performance-based restricted stock units, the Performance-Based Restricted Stock Unit Award shall immediately become null and void. 

 

	2.	Vesting. 

  

	 	(a)	Performance-Based Vesting. Subject to this Section 2, the Performance-Based Restricted Stock Unit Award shall vest and become unrestricted in accordance
with Exhibit A hereto. 

  

	 	(b)	 Accelerated Vesting for Termination following a Change in Control. Unless otherwise provided in another written agreement between
«Last_Name» and the Company, in the event of a Change in Control of the Company, (i) all unearned performance-based restricted stock units subject to the Performance-Based

	 	 
Restricted Stock Unit Award shall be deemed to be earned based on relative TSR (as such term is defined in Exhibit A hereto), the number of which shall be determined based on the market price of
the Company’s Common Stock being the closing price on the date of the consummation of the Change in Control and the market price of the Company’s Comparison Group (as such term is defined in Exhibit A hereto) being an average of the
closing prices for the 30-day period ending five business days prior to such consummation, and (ii) all such earned performance-based restricted stock units subject to the Performance-Based Restricted Stock Unit Award shall remain unvested and
shall continue to vest in accordance with their original vesting schedule. If «Last_Name»’s employment with such successor company (or a subsidiary thereof) is terminated within 24 months following such Change in Control (or within
three months prior thereto in connection with the Change in Control) without Cause by the Company or the successor company or by «Last_Name» for Good Reason, all earned and unvested performance-based restricted stock units subject to the
Performance-Based Restricted Stock Unit Award outstanding as of the date of such termination of employment (or as of the date of the Change in Control if termination occurred prior to and in connection with the Change in Control) shall vest and be
distributed. 

  

	 	(c)	Settlement of Performance-Based Restricted Stock Units. Upon the date performance-based restricted stock units subject to this Agreement become vested and
unrestricted, one share of Common Stock shall be issuable for each performance-based restricted stock unit that vests on such date, subject to the terms and conditions of the Plan and this Agreement. Thereafter, the Company will transfer such shares
of Common Stock to «Last_Name» upon satisfaction of any required tax withholding obligations. 

  

	 	(d)	Other Defined Terms. 

Cause. “Cause” shall mean (i) the willful or grossly negligent failure by «Last_Name» to perform his or
her duties and obligations hereunder in any material respect, other than any such failure resulting from the disability of «Last_Name», (ii) «Last_Name»’s conviction of a crime or offense involving the property of
the Company, or any crime or offense constituting a felony or involving fraud or moral turpitude; (iii) «Last_Name»’s violation of any law, which violation is materially and demonstrably injurious to the operations or
reputation of the Company; or (iv) «Last_Name»’s material violation of any generally recognized policy of the Company. 
 Change in Control. A “Change in Control” shall mean and be determined to have occurred upon any one of the following events: (i) the date any person or group other than any
subsidiary of the Company (or any employee benefit plans (or related trust) of the Company or any of its subsidiaries) acquires beneficial ownership of securities possessing more than thirty percent (30%) of the total combined voting power of
the Company’s then outstanding voting securities which generally entitle the holder thereof to vote for the election of directors 

  
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(“Voting Power”), provided, however, that no Change in Control shall be deemed to have occurred solely by reason of any such acquisition by a corporation with respect to which, after
such acquisition, more than sixty percent (60%) of the then outstanding shares of common stock of such corporation and the Voting Power of such corporation are then beneficially owned, directly or indirectly, by the persons who were the
beneficial owners of the stock and Voting Power of Company immediately before such acquisition, in substantially the same proportions as their ownership immediately before such acquisition; or (ii) the date the individuals who constitute the
Board of Directors of the Company (the “Board”) as of the date of this Agreement (the “Incumbent Board”) cease for any reason other than their deaths to constitute at least a majority of the Board; provided that any individual
who becomes a director after the date of this Agreement whose election or nomination for election by Company’s stockholders was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered,
for purposes of this definition, as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office is in connection with an actual or threatened solicitation by a
person or group other than the Board for the purpose of opposing a solicitation by any other person or group with respect to the election or removal of directors of the Company; or (iii) Company effects (A) a merger, reorganization or
consolidation of Company with one or more corporations or entities, as a result of which the holders of the outstanding Voting Stock of Company immediately prior to such merger, reorganization or consolidation hold less than 50% of the Voting Power
of the surviving or resulting corporation or entity immediately after such merger or consolidation; or (B) a sale or other disposition of all or substantially all of the assets of Company other than to an entity of which Company owns at least
50% of the Voting Power. For purposes of the foregoing definition, the terms “beneficially owned” and “beneficial ownership” and “person” shall have the meanings ascribed to them in SEC rules 13d-5(b) under the
Securities Exchange Act of 1934 (the “1934 Act”), and “group” means two or more persons acting together in such a way to be deemed a person for purposes of Section 13(d) of the 1934 Act. Further, notwithstanding anything
herein to the contrary, the definition of Change in Control set forth herein shall not be broader than the definition of “change in control event” as set forth under Section 409A of the Internal Revenue Code of 1986, as amended (the
“Code”), and the guidance promulgated thereunder, and if a transaction or event does not otherwise fall within such definition of change in control event, it shall not be deemed a Change in Control for purposes of this Agreement.

 Good Reason. “Good Reason” shall mean (i) any significant diminution in «Last_Name»‘s
responsibilities from and after the date of the Change in Control, (ii) any material reduction in the annual salary or target incentive cash compensation of «Last_Name» from and after the date of the Change in Control or
(iii) any requirement after the date of the Change in Control (or prior thereto in connection with the Change in Control) to relocate to a location that is more than fifty (50) miles from the principal work location of
«Last_Name»; provided, 

  
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however, that the occurrence of any such condition shall not constitute Good Reason unless «Last_Name» provides written notice to the Company of the existence of such condition not
later than 90 days after the initial existence of such condition, and the Company shall have failed to remedy such condition within 30 days after receipt of such notice. 

 

	3.	No Rights as Stockholder; Dividend Equivalents. «Last_Name» shall not have any rights of a stockholder of the Company with respect to
any shares of Common Stock issuable upon the vesting of performance-based restricted stock units subject to this Agreement (including the right to vote and to receive dividends and other distributions paid with respect to shares of Common Stock),
unless and until, and only to the extent, the Performance-Based Restricted Stock Unit Award is settled by the issuance of such shares of Common Stock to «Last_Name». Notwithstanding the foregoing, at such time as the restrictions lapse,
an amount equal to any cash dividends that would have been payable to «Last_Name» if the shares of Common Stock underlying the performance-based restricted stock units subject to this Agreement had been issued to «Last_Name»
during the restriction period shall be paid in cash to «Last_Name» with respect to the actual number of performance-based restricted stock units that have vested. This Section 3 will not apply with respect to record dates for
dividends occurring prior to the Grant Date or after the restriction period has lapsed. 

  

	4.	Termination of Employment. 

  

	 	(a)	Subject to Section 2 and Sections 4(b) and 4(c), if «Last_Name»’s employment with the Company (or an affiliate of the Company if such affiliate is
«Last_Name»’s employer) is terminated other than due to death and other than by the Company due to the Disability (as defined below) of «Last_Name», the performance-based restricted stock units subject to the
Performance-Based Restricted Stock Unit Award which are unearned as of the date of termination shall be forfeited by «Last_Name» and such performance-based restricted stock units shall be cancelled by the Company.

  

	 	(b)	Subject to Section 2 and Section 4(c), if «Last_Name»’s employment with the Company (or an affiliate of the Company if such affiliate is
«Last_Name»’s employer) is terminated due to the death or Disability of «Last_Name», the performance-based restricted stock units subject to the Performance-Based Restricted Stock Unit Award which are unearned as of the
date of termination shall be deemed to be earned at 100% of target level and the number of performance-based restricted stock units so earned shall vest and be distributed. 

 

	 	(c)	 If, on the date «Last_Name»’s employment terminates, there is a written employment agreement in place between «Last_Name»
and the Company (or between «Last_Name» and an affiliate of the Company if such affiliate is «Last_Name»’s employer), then, in the event of a conflict, the terms of such written employment agreement regarding vesting
upon termination shall prevail over the terms of this Agreement (it being understood that any accelerated vesting shall be subject to the satisfaction of the performance conditions as described

  
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herein and be based on the level achieved hereunder), except that the terms of such employment agreement relating to vesting upon a termination due to a resignation for constructive
discharge (or a resignation due to good reason or other comparable concept) shall not apply and such terms shall not prevail over the terms of this Agreement. Upon such a resignation for constructive discharge (or a resignation due to good reason or
other comparable concept) then, per subsection 4(a) above, the portion of the Performance-Based Restricted Stock Unit Award which is not vested and unrestricted as of the date of such termination shall be forfeited by «Last_Name» and
such portion shall be cancelled by the Company, regardless of the terms of any employment agreement. 

  

	 	(d)	“Disability” shall have the meaning as provided in Treas. Reg. §1.409(4)(i). 

 

	5.	Adjustment in Event of Happening of Condition. 

 In the event that there is any change in the number of issued shares of Common Stock of the Company without new consideration to the Company (such as by stock dividends or stock split-ups), then the
number of unvested performance-based restricted stock units subject to this Performance-Based Restricted Stock Unit Award shall be adjusted in proportion to such change in issued shares. 

If the outstanding shares of Common Stock of the Company shall be combined, or be changed into another kind of stock of the Company or
into equity securities of another corporation, whether through recapitalization, reorganization, sale, merger, consolidation, etc., the Company shall cause adequate provision to be made whereby the unvested performance-based restricted stock units
subject to this Agreement shall be adjusted equitably so that the securities received upon vesting shall be the same as if the vesting had occurred immediately prior to such recapitalization, reorganization, sale, merger, consolidation, etc.

 Notwithstanding the foregoing, in the event of a sale of the Company through a merger, consolidation or sale of all or
substantially all of its assets where all or part of the consideration is stock, cash or other securities or property (a “Transaction”), the Performance-Based Restricted Stock Unit Award shall be assumed or an award of equivalent value
shall be substituted by the successor corporation or a parent or subsidiary of the successor corporation. In the event that the successor corporation refuses to assume or substitute for the Performance-Based Restricted Stock Unit Award, then
simultaneously with the consummation of the Transaction, «Last_Name» shall fully vest in the Performance-Based Restricted Stock Unit Award at the level earned prior to such Transaction and such number of performance-based restricted
stock units subject to the Performance-Based Restricted Stock Unit Award shall become unrestricted. For the purposes of this Section 5, the Performance-Based Restricted Stock Unit Award shall be considered assumed if, following the Transaction,
the Performance-Based Restricted Stock Unit Award confers the right to receive, for each performance-based restricted stock unit subject to the Performance-Based Restricted Stock Unit Award and unvested immediately prior to the Transaction, the
consideration (whether stock, cash or other securities or property) received in the Transaction by holders of Common Stock held on 

  
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the effective date of the Transaction (and if holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding shares); provided,
however, that if such consideration received in the Transaction is not solely common stock of the successor company, the Committee may, with the consent of the successor company, provide that the consideration to be received upon the vesting of the
Performance-Based Restricted Stock Unit Award, for each share of Common Stock subject thereto, will be solely common stock of the successor company substantially equal in fair market value to the per share consideration received by holders of shares
of Common Stock in the Transaction. The determination of such substantial equality of value of consideration shall be made by the Committee in its sole discretion and its determination shall be conclusive and binding. 

 

	6.	No Right to Continued Employment. This Agreement shall not be construed as giving «Last_Name» the right to be retained in the employ of
the Company. 

  

	7.	Provisions of Plan. This Performance-Based Restricted Stock Unit Award is granted pursuant to, and subject to the terms and conditions of, the Plan
(which is incorporated herein by reference). In the event a provision of this Agreement conflicts with the Plan, the terms of the Plan will prevail. «Last_Name» acknowledges receiving a copy of the Plan and this Agreement. Any
capitalized term not defined herein shall have the same meaning as in the Plan. 

  

	8.	 Withholding of Taxes; Section 409A. The Company shall be entitled, if necessary or desirable, to withhold from any amounts
due and payable by the Company to «Last_Name» (or to secure payment from «Last_Name» in lieu of withholding) the amount of any withholding or other tax due from the Company (“Required Tax Payments”) with respect to
any performance-based restricted stock units which become vested and unrestricted under this Agreement, and the Company may defer issuance of Common Stock underlying such performance-based restricted stock units until such amounts are paid or
withheld. «Last_Name» shall satisfy his or her Required Tax Payments by any of the following means: (1) a cash payment to the Company, (2) delivery (either actual delivery or by attestation procedures established by the
Company) to the Company of previously owned whole shares of Common Stock (for which «Last_Name» has good title, free and clear of all liens and encumbrances) having a Fair Market Value (as defined in the Plan), determined as of the date
the obligation to withhold or pay taxes first arises in connection with the Performance-Based Restricted Stock Unit Award (the “Tax Date”), equal to the Required Tax Payments, (3) authorizing the Company to withhold from the shares of
Common Stock otherwise to be delivered to the holder pursuant to the Performance-Based Restricted Stock Unit Award, a number of whole shares of Common Stock having a Fair Market Value, determined as of the Tax Date, equal to the Required Tax
Payments, (4) a cash payment by a broker-dealer acceptable to the Company through whom «Last_Name» has sold the shares with respect to which the Required Tax Payments have arisen or (5) any combination of (1), (2) and (3).
The Compensation Committee shall have sole discretion to disapprove of an election pursuant to any of clauses (2)-(5) for any holder who is not an “officer” (as defined in Rule 16a-1(f) under the Securities Exchange Act of 1934).
Unless and until the Company determines otherwise, the method in clause (3) above shall be utilized. Shares 

  
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of Common Stock to be delivered or withheld may not have a Fair Market Value in excess of the minimum amount of the Required Tax Payments. Any fraction of a share of Common Stock which would be
required to satisfy such an obligation shall be disregarded and the remaining amount due shall be paid in cash by the holder. No certificate representing a share of Common Stock shall be delivered until the Required Tax Payments have been satisfied
in full. 

 It is intended that any amounts payable under this Performance-Based Restricted Stock Unit Award
comply with the provisions of Code Section 409A of the Internal Revenue Code of 1986 and the treasury regulations relating thereto so as not to subject << Last Name >> to the payment of interest and tax penalty which may be imposed
under Code Section 409A. In furtherance of this interest, to the extent that any regulations or other guidance issued under Code Section 409A after the date of this Performance-Based Restricted Stock Unit Award would result in <<
Last Name >> being subject to payment of interest and tax penalty under Code Section 409A, the parties agree to amend this Performance-Based Restricted Stock Unit Award in order to bring this Performance-Based Restricted Stock Unit Award
into compliance with Code Section 409A. No amount shall be payable pursuant to a termination of << Last Name >>’s employment unless such termination constitutes a separation from service under Section 409A. To the extent
any amounts payable upon << Last Name >>’s separation from service are nonqualified deferred compensation under Section 409A, and if << Last Name >> is at such time a specified employee under Section 409A, then
to the extent required under Section 409A payment of such amounts shall be postponed until six (6) months following the date of << Last Name >>’s separation from service (or until any earlier date of << Last Name
>> death), upon which date all such postponed amounts shall be paid to << Last Name >> in a lump sum, and any remaining payments due shall be paid as otherwise provided herein. The determination of whether << Last Name
>> is a specified employee shall made by the Company in accordance with Section 409A. 
  

	9.	Binding Effect. This Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective heirs, executors,
administrators, successors and assigns. 

 IN WITNESS WHEREOF, the parties hereto have caused this
Agreement to be executed on the day and year first above written. 
  

			
	ALLSCRIPTS HEALTHCARE SOLUTIONS, INC.
		
	By:	 	  

		
	Name:	 	  

	
	  

	«First_Name» «Last_Name»

  
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 Exhibit A 
 1. For purposes of this Exhibit: 
  

	 	•	 	 The maximum number of performance-based restricted stock units subject to this Agreement is
<            > (i.e., 160% of the target number), of which up to 33 1/3% shall be eligible for vesting with respect to attainment of the Performance Measure in each of the three Performance Periods (as such term is defined
below), as set forth below but subject to the Alternative Three Year Performance Period Vested Unit Calculation (as such term is defined below). 

 

	 	•	 	 The “Performance Measure” is relative “Total Shareholder Return” (as such term is defined below) for each Performance Period.

 Following the end of each Performance Period, the Company’s Compensation Committee will certify the
level of the Performance Measure achieved by the Company for such Performance Period. The performance-based restricted stock units subject to vesting during a Performance Period will be subject to forfeiture and cancellation by the Company if the
Company’s performance during such Performance Period does not meet or exceed the threshold percentile rank of the Performance Measure for such Performance Period. Performance at or above the threshold level will result performance-based
restricted stock units becoming vested as set forth below, and shares underlying such vested performance-based restricted stock units shall be distributed following completion of the certification described above. 

Notwithstanding the foregoing, following completion of the three-year period commencing on the Grant Date and ending on the third
anniversary of the Grant Date (the “Three Year Performance Period”), the Compensation Committee will determine the number of performance-based restricted stock units that would vest if the maximum number of performance-based restricted
stock units subject to the Performance-Based Restricted Stock Unit Award had been subject only to the Three Year Performance Period (the “Alternative Three Year Performance Period Vested Unit Calculation”). If the number of
performance-based restricted stock units that vest pursuant to the Alternative Three Year Performance Period Vested Unit Calculation is greater than the number of performance-based restricted stock units that vest under this Agreement in the three
Performance Periods described herein without regard to the Alternative Three Year Performance Period Vested Unit Calculation, then such greater number of performance-based restricted stock units shall vest pursuant to the Alternative Three Year
Performance Period Vested Unit Calculation, reduced by the number of performance-based restricted stock units previously vested. Shares underlying vested performance-based restricted stock units shall be distributed following completion of the
certification described above. 
 2. Additional Definitions. 

a. “Comparison Group” means the companies listed on Appendix 1 to this Exhibit A, as may be adjusted as described below.

 b. “Performance Period” means each of the following three periods: 

 

	 	(i)	the one-year period commencing on the Grant Date and ending on the first anniversary of the Grant Date, 

  
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	 	(ii)	the two-year period commencing on the Grant Date and ending on the second anniversary of the Grant Date, and 

 

	 	(iii)	the three-year period commencing on the Grant Date and ending on the third anniversary of the Grant Date. 

c. “Total Shareholder Return” or “TSR” means total shareholder return as applied to the Company or any company in the Comparison
Group, meaning stock price appreciation from the beginning to the end of the Performance Period, plus dividends and distributions made or declared (assuming such dividends or distributions are reinvested in the common stock of the Company or any
company in the Comparison Group) during the Performance Period, expressed as a percentage return. Except as modified in Section 4(d), for purposes of computing TSR, the stock price at the beginning of the Performance Period will be the
average price of a share of common stock over the 30 trading days beginning on the first day of the Performance Period, and the stock price at the end of the Performance Period will be the average price of a share of common stock over the 30 trading
days ending on the last day of the Performance Period, adjusted for changes in capital structure; provided, however, that TSR will be negative one hundred percent (-100%) if a company: (i) files for bankruptcy, reorganization, or
liquidation under any chapter of the U.S. Bankruptcy Code; (ii) is the subject of an involuntary bankruptcy proceeding that is not dismissed within 30 days; (iii) is the subject of a stockholder approved plan of liquidation or
dissolution; or (iv) ceases to conduct substantial business operations. 
 3. Calculation. For purposes of the award,
the number of shares earned will be calculated as follows: 
 FIRST: For the Company and for each other company in the
Comparison Group, determine the TSR for the Performance Period. 
 SECOND: Rank the TSR values determined in the first step from
low to high (with the company having the lowest TSR being ranked number 1, the company with the second lowest TSR ranked number 2, and so on) and determine the Company’s percentile rank based upon its position in the list by dividing the
Company’s position by the total number of companies (including the Company) in the Comparison Group and rounding the quotient to the nearest hundredth. For example, if the Company were ranked 60 on the list out of 80 companies (including the
Company), its percentile rank would be 75%. 
 THIRD: Plot the percentile rank for the Company determined in the second step
into the appropriate band in the left-hand column of the table below and determine the number of shares earned as a percent of target, which is the figure in the right-hand column of the table below corresponding to that percentile rank. Use linear
interpolation between points in the table below to determine the percentile rank and the corresponding share funding if the Company’s percentile rank is greater than 40% and less than 95% but not exactly one of the percentile ranks listed in
the left-hand column. For example, if the Company’s percentile rank is 62.5%, then 90% of target shares would be earned. 

  
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	*	Payout is capped at 100% if absolute TSR is negative. 

	(1)	 Linear interpolation between points
shown. 

 4. Rules. The following rules apply to the computation of the number of shares earned:

 a. If the Company’s absolute TSR is negative over any of the three Performance Periods, payouts shall not exceed 100% of
target for that Performance Period. 
 b. The minimum earnout is zero and the maximum earnout is 160% of
target. There is no minimum number of shares or other consideration that recipient will receive, and no shares will be earned if the percentile rank is 40th percentile or lower in a Performance Period. 
 c. For purposes of computing Total Shareholder Return for the Company and each other company in the Comparison Group, the stock price at the beginning and end of the Performance Period will, subject to
Section 2 of the Performance-Based Restricted Stock Unit Award Agreement, be determined as the 30-day average closing price of the stock on each of the 30 consecutive trading days ending on and including the first day or last day of the
Performance Period, as the case may be. 
 d. Companies shall be removed from the Comparison Group if they undergo a Specified
Corporate Change. A company that is removed from the Comparison Group before the measurement date will not be included at all in the computation of the performance factor. A company in the Comparison Group will be deemed to have undergone a
“Specified Corporate Change” if it: 
  

	 	1.	ceases to be a domestically domiciled publicly traded company on a national stock exchange or market system, unless such cessation of such listing is due to a low stock
price or low trading volume; or 

  

	 	2.	has gone private; or 

  

	 	3.	has reincorporated in a foreign (e.g., non-U.S.) jurisdiction, regardless of whether it is a reporting company in that or another jurisdiction; or

  
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	 	4.	has been acquired by another company (whether by a peer company or otherwise, but not including internal reorganizations), or has sold all or substantially all of its
assets. 

 The Company shall rely on press releases, public filings, website postings, and other reasonably
reliable information available regarding a peer company in making a determination that a Specified Corporate Change has occurred. 

  
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 Appendix 1 to 
 Exhibit A to 
 Performance-Based Stock Unit Agreement 

Comparison Group 
  

																											
	 	  	Market Cap
(12/31/10)	 	  	Revenue
(Last 4 Q)	 	  	3-Year TSR
(12/31/10)	 	  	 	  	Market Cap
(12/31/10)	 	  	Revenue
(Last 4 Q)	 	  	3-Year TSR
(12/31/10)	 
	 Fiserv Inc
	  	 	$8,749	  	  	 	$4,117	  	  	 	2%	  	  	Aol Inc	  	 	$2,531	  	  	 	$2,612	  	  	 	n/a	  
	 Red Hat Inc
	  	 	$8,700	  	  	 	$860	  	  	 	30%	  	  	Quest Software Inc	  	 	$2,528	  	  	 	$745	  	  	 	15%	  
	 Autodesk Inc
	  	 	$8,686	  	  	 	$1,880	  	  	 	-8%	  	  	Henry (Jack) & Assoc	  	 	$2,496	  	  	 	$889	  	  	 	8%	  
	 Akamai Technologies
	  	 	$8,584	  	  	 	$977	  	  	 	11%	  	  	Fortinet Inc	  	 	$2,384	  	  	 	$302	  	  	 	n/a	  
	 Bmc Software Inc
	  	 	$8,391	  	  	 	$1,963	  	  	 	10%	  	  	Cadence Design Sys	  	 	$2,207	  	  	 	$907	  	  	 	-21%	  
	 Fidelity Nat’l Info Svcs
	  	 	$8,243	  	  	 	$5,174	  	  	 	8%	  	  	Ariba Inc	  	 	$2,205	  	  	 	$361	  	  	 	28%	  
	 Cerner Corp
	  	 	$7,849	  	  	 	$1,816	  	  	 	19%	  	  	Successfactors Inc	  	 	$2,200	  	  	 	$188	  	  	 	35%	  
	 Computer Sciences
	  	 	$7,662	  	  	 	$16,107	  	  	 	0%	  	  	Corelogic Inc	  	 	$2,167	  	  	 	$2,893	  	  	 	2%	  
	 Mcafee Inc
	  	 	$7,138	  	  	 	$2,041	  	  	 	7%	  	  	Novell Inc	  	 	$2,081	  	  	 	$812	  	  	 	-5%	  
	 Rovi Corp
	  	 	$6,577	  	  	 	$539	  	  	 	50%	  	  	Dst Systems Inc	  	 	$2,049	  	  	 	$2,226	  	  	 	-18%	  
	 Saic Inc
	  	 	$5,900	  	  	 	$10,975	  	  	 	-8%	  	  	Syntel Inc	  	 	$1,995	  	  	 	$505	  	  	 	9%	  
	 Sybase Inc
	  	 	$5,640	  	  	 	$1,221	  	  	 	40%	  	  	Neustar Inc	  	 	$1,928	  	  	 	$523	  	  	 	-3%	  
	 Verisign Inc
	  	 	$5,619	  	  	 	$766	  	  	 	-2%	  	  	Progress Software	  	 	$1,835	  	  	 	$530	  	  	 	8%	  
	 Electronic Arts Inc
	  	 	$5,438	  	  	 	$3,668	  	  	 	-35%	  	  	Wright Express Corp	  	 	$1,765	  	  	 	$359	  	  	 	9%	  
	 Nuance Comm
	  	 	$5,428	  	  	 	$1,119	  	  	 	-1%	  	  	Sapient Corp	  	 	$1,651	  	  	 	$822	  	  	 	13%	  
	 Amdocs Ltd
	  	 	$5,303	  	  	 	$2,984	  	  	 	-7%	  	  	Opentable Inc	  	 	$1,622	  	  	 	$87	  	  	 	n/a	  
	 Ansys Inc
	  	 	$4,738	  	  	 	$564	  	  	 	8%	  	  	Caci Intl Inc	  	 	$1,619	  	  	 	$3,244	  	  	 	6%	  
	 Factset Research Sys
	  	 	$4,347	  	  	 	$659	  	  	 	21%	  	  	Netsuite Inc	  	 	$1,608	  	  	 	$184	  	  	 	-14%	  
	 Informatica Corp
	  	 	$4,132	  	  	 	$603	  	  	 	35%	  	  	Convergys Corp	  	 	$1,605	  	  	 	$2,299	  	  	 	-7%	  
	 Synopsys Inc
	  	 	$4,018	  	  	 	$1,381	  	  	 	1%	  	  	Gsi Commerce Inc	  	 	$1,545	  	  	 	$1,251	  	  	 	6%	  
	 Rackspace Hosting
	  	 	$3,961	  	  	 	$735	  	  	 	n/a	  	  	Lawson Software Inc	  	 	$1,508	  	  	 	$742	  	  	 	-3%	  
	 Equinix Inc
	  	 	$3,737	  	  	 	$1,118	  	  	 	-7%	  	  	Mantech Intl Corp	  	 	$1,502	  	  	 	$2,448	  	  	 	-2%	  
	 Alliance Data Sys
	  	 	$3,727	  	  	 	$2,582	  	  	 	-2%	  	  	Advent Software Inc	  	 	$1,493	  	  	 	$274	  	  	 	2%	  
	 Global Payments Inc
	  	 	$3,682	  	  	 	$1,673	  	  	 	0%	  	  	Ss&C Tech Hldgs	  	 	$1,482	  	  	 	$314	  	  	 	n/a	  
	 Solera Holdings Inc
	  	 	$3,605	  	  	 	$639	  	  	 	28%	  	  	Savvis Inc	  	 	$1,432	  	  	 	$898	  	  	 	-3%	  
	 Micros Systems Inc
	  	 	$3,534	  	  	 	$936	  	  	 	8%	  	  	Blackboard Inc	  	 	$1,421	  	  	 	$430	  	  	 	1%	  
	 Verifone Systems Inc
	  	 	$3,375	  	  	 	$1,002	  	  	 	18%	  	  	Acxiom Corp	  	 	$1,376	  	  	 	$1,134	  	  	 	14%	  
	 Genpact Ltd
	  	 	$3,354	  	  	 	$1,214	  	  	 	0%	  	  	Digital River Inc	  	 	$1,366	  	  	 	$370	  	  	 	1%	  
	 Tibco Software Inc
	  	 	$3,291	  	  	 	$754	  	  	 	35%	  	  	Pegasystems Inc	  	 	$1,357	  	  	 	$320	  	  	 	46%	  
	 Gartner Inc
	  	 	$3,192	  	  	 	$1,235	  	  	 	24%	  	  	Solarwinds Inc	  	 	$1,345	  	  	 	$144	  	  	 	n/a	  
	 Monster Worldwide
	  	 	$3,073	  	  	 	$874	  	  	 	-10%	  	  	J2 Global Comm	  	 	$1,320	  	  	 	$245	  	  	 	11%	  
	 Webmd Health Corp
	  	 	$3,058	  	  	 	$504	  	  	 	19%	  	  	Mentor Graphics Corp	  	 	$1,316	  	  	 	$845	  	  	 	4%	  
	 Total System Serv Inc
	  	 	$2,992	  	  	 	$1,712	  	  	 	-17%	  	  	Valueclick Inc	  	 	$1,294	  	  	 	$412	  	  	 	-10%	  
	 Iac/Interactivecorp
	  	 	$2,977	  	  	 	$1,578	  	  	 	4%	  	  	Ancestry.Com Inc	  	 	$1,261	  	  	 	$278	  	  	 	n/a	  
	 Broadridge Financial
	  	 	$2,742	  	  	 	$2,193	  	  	 	1%	  	  	Commvault Systems Inc	  	 	$1,232	  	  	 	$286	  	  	 	11%	  
	 Concur Technologies
	  	 	$2,721	  	  	 	$293	  	  	 	13%	  	  	Ultimate Software Group	  	 	$1,230	  	  	 	$220	  	  	 	16%	  
	 Lender Processing Serv
	  	 	$2,696	  	  	 	$2,426	  	  	 	n/a	  	  	Jda Software Group Inc	  	 	$1,225	  	  	 	$556	  	  	 	11%	  
	 Parametric Technology
	  	 	$2,655	  	  	 	$1,010	  	  	 	8%	  	  	Teletech Holdings Inc	  	 	$1,223	  	  	 	$1,095	  	  	 	-1%	  
	 Sxc Health Solutions
	  	 	$2,608	  	  	 	$1,865	  	  	 	81%	  	  	Sra International Inc	  	 	$1,167	  	  	 	$1,673	  	  	 	-11%	  
	 Compuware Corp
	  	 	$2,556	  	  	 	$892	  	  	 	10%	  	  		  				  				  			

  
 12First Amendment to Credit Agreement

 Exhibit 10.11 
 FIRST AMENDMENT OF CREDIT AGREEMENT 
 This First Amendment of Credit
Agreement (the “First Amendment”) is entered into on December 13, 2010, among TRIPWIRE, INC. (“Tripwire”), as borrower, and U.S. BANK NATIONAL ASSOCIATION (“U.S. Bank,” or
“Agent,” as applicable) and SILICON VALLEY BANK (“SVB”), as lenders. 
 RECITALS 

A. U.S. Bank and Tripwire are parties to a Credit Agreement (the “Credit Agreement”) dated as of October 21,
2010. 
 B. Capitalized terms used in this First Amendment that are not defined herein have the meaning assigned to those terms
in the Credit Agreement. 
 C. SVB wants to become a Lender by purchasing a portion of U.S. Bank’s Commitment.
U.S. Bank is prepared to sell and assign a portion of its Commitment to SVB, as more particularly specified in this First Amendment. In addition, the parties to this First Amendment wish to modify and amend the definition of Required Lenders.

 NOW, THEREFORE, for valuable consideration, the receipt and sufficiency of which hereby are acknowledged, the parties to this
First Amendment agree as follows: 
 TERMS AND CONDITIONS 

SECTION I 

CONDITIONS PRECEDENT 
 1.1 Conditions Precedent. This First Amendment shall not be effective unless the following events occur on or before December 31, 2010: 

(a) Tripwire and the Lenders shall have executed this First Amendment and delivered it to the Agent; 

(b) SVB and U.S. Bank shall have executed the Assignment and Assumption Agreement referred to in paragraph 2.2
of this First Amendment and delivered it to the Agent; 
 (c) Tripwire and the Agent shall have acknowledged
their consent to the sale and assignment by U.S. Bank to SVB of a portion of U.S. Bank’s Commitment by signing the form of consent on the Assignment and Assumption Agreement; and 

(d) Tripwire shall have executed and delivered to the Agent the New Notes (as that term is defined in paragraph 2.4
of this First Amendment). 

  
 - 1 -

 If the above described conditions precedent are not satisfied by December 31, 2010 (or waived by the
Agent in writing in its sole and absolute discretion), this First Amendment shall not be effective and the parties’ rights and obligations shall continue to be governed by the Credit Agreement and the other Loan Documents (without giving effect
to this First Amendment). The date on which all of the foregoing conditions precedent are satisfied (provided that such date is on or before December 31, 2010) is referred to in this First Amendment as the “First Amendment Effective
Date.” 
 SECTION II 
 ADDITION OF SVB AS A LENDER 
 2.1 Addition of SVB as a Lender. Effective as
of the First Amendment Effective Date, SVB shall become a Lender under the Credit Agreement and SVB shall have all of the rights and obligations of a Lender under the Credit Agreement. The Lenders’ Commitments as of the First Amendment
Effective Date are set forth in revised Schedule 3.1 to the Credit Agreement, which is attached to this First Amendment as Exhibit A. 
 2.2 Execution of Assignment and Assumption Agreement. On or before the First Amendment Effective Date, U.S. Bank and SVB will enter into an Assignment and Assumption Agreement identifying the
amount of the Commitment that U.S. Bank is selling and assigning to SVB and that SVB is purchasing and assuming from U.S. Bank. 
 2.3 The Commitments of the Lenders. Schedule 3.1 of the Credit Agreement, which sets forth the Commitments of the Lenders by Dollar amount and as a percentage of the total Commitment, hereby
is amended by deleting it in its entirety and replacing it with the new version of Schedule 3.1 that is attached to this First Amendment as Exhibit A. 
 2.4 The New Notes. On or before the First Amendment Effective Date, Tripwire shall execute promissory notes (the “New Notes”) in favor of U.S. Bank and SVB in the amount of
each Lender’s Commitment and shall deliver the New Notes to the Agent. Promptly thereafter, the Agent shall deliver to U.S. Bank and SVB the New Note in favor of each such Lender. 

SECTION III 

MISCELLANEOUS PROVISIONS 
 3.1 Revised Defined Term. The definition of the term Required Lenders in Section 1.1 of the Credit Agreement hereby is modified, amended, and restated as follows: 

““Required Lenders” means, as of the date of determination, two or more Lenders that (a) hold
in the aggregate more than 50 percent of the Aggregate Commitment, and (b) shall include (i) U.S. Bank, if U.S. Bank holds at least 20 percent of the Aggregate Commitment, and (ii) SVB, if SVB holds at least
20 percent of the Aggregate Commitment. If the Commitments have expired or have been terminated by the Lenders, Required Lenders means Lenders that 

  
 - 2 -

 
(y) hold in the aggregate more than 50 percent of the Total Outstandings, and (z) shall include (i) U.S. Bank, if U.S. Bank holds at least 20 percent of the
Aggregate Commitment, and (ii) SVB, if SVB holds at least 20 percent of the Aggregate Commitment. For purposes of this definition, the aggregate amount of each Lender’s risk participation and funded participation in L/C Obligations
shall be deemed to be “held” by such Lender. The Commitment of, and the portion of the Total Outstandings held (or deemed held) by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Lenders.”

 3.2 Revised Notice Schedule. Schedule 15.8 of the Credit Agreement, which sets forth the addresses for notice to
the parties to the Credit Agreement, hereby is amended by deleting it in its entirety and replacing it with the new version of Schedule 15.8 that is attached to this First Amendment as Exhibit B. 

SECTION IV 

GENERAL TERMS 

4.1 Continued Effectiveness of the Loan Documents. The Lenders and Tripwire acknowledge that the Loan Documents remain in full
force and effect and are binding and enforceable in accordance with their terms (as modified hereby). Following the execution of this First Amendment by Tripwire and the Lenders, references in the Credit Agreement to the “Agreement” shall
mean the Credit Agreement, as amended by this First Amendment. 
 4.2 Representations and Warranties; No Default.
Tripwire hereby represents and warrants to the Lenders that (a) all of the representations and warranties of Tripwire set forth in the Credit Agreement are true and correct as of the date of this First Amendment, and (b) no Default or
Event of Default has occurred and is continuing as of the date of this First Amendment. 
 4.3 Captions. Any captions for
the sections of this First Amendment are for convenience only and do not control or affect the meaning or construction of any of the provisions of this First Amendment. 
 4.4 Severability. If any term, condition, or provision of this First Amendment, or any other document or instrument referred to in this First Amendment, is held invalid for any reason, such
offending term, condition, or provision shall be stricken therefrom, and the remainder of this First Amendment shall not be affected thereby. 
 4.5 Negotiated Agreement. This First Amendment is a negotiated agreement. In the event of any ambiguity in this First Amendment, such ambiguity shall not be subject to a rule of contract
interpretation that would cause the ambiguity to be construed against any of the parties to this First Amendment. 
 4.6
Voluntary and Entire Agreement. The only consideration for the execution of this First Amendment is the consideration expressly recited herein. The Credit Agreement (as modified and amended by this First Amendment) and the Loan Documents set

  
 - 3 -

 
forth and constitute the entire agreement among the Lenders and Tripwire with respect to the Loans, the Letters of Credit, and the Collateral. No oral promise or agreement of any kind or nature,
other than those that have been reduced to writing and set forth in this First Amendment or in the other written agreements among the Lenders and Tripwire, has been made among the Lenders and Tripwire. Tripwire acknowledges that it has been
represented (or has had the opportunity to be represented) by legal counsel in connection with the negotiation and execution of this First Amendment and the other agreements and instruments referred to in this First Amendment. Tripwire voluntarily
executed this First Amendment and the other agreements and instruments referred to in this First Amendment. 
 4.7
Construction and Conflict with Other Agreements. In the event of any conflict between the terms of this First Amendment and the terms of any other agreements or instruments referred to in this First Amendment, the terms of this First
Amendment shall control. 
 4.8 Waiver of Jury Trial. EACH PARTY TO THIS FIRST AMENDMENT HEREBY WAIVES ITS RIGHT TO
TRIAL BY JURY OF ANY CLAIMS IT HAS OR HEREAFTER MAY HAVE AGAINST EACH OTHER PARTY TO THIS FIRST AMENDMENT (INCLUDING CROSS-CLAIMS AND COUNTERCLAIMS), WHETHER ANY SUCH CLAIM ARISES OUT OF CONTRACT, TORT, OR OTHERWISE AND WHETHER ANY SUCH CLAIM ARISES
BEFORE OR AFTER THE DATE OF THIS FIRST AMENDMENT. 
 4.9 Applicable Law. This First Amendment, the Credit Agreement,
and any other instruments or agreements required or contemplated under this First Amendment shall be governed by and construed under the laws of the state of Oregon, without regard to principles of conflicts of law. 

4.10 Writing Requirement. UNDER OREGON LAW, MOST AGREEMENTS, PROMISES, AND COMMITMENTS MADE BY THE LENDERS CONCERNING LOANS AND
OTHER CREDIT EXTENSIONS THAT ARE NOT FOR PERSONAL, FAMILY, OR HOUSEHOLD PURPOSES OR SECURED SOLELY BY THE BORROWER’S RESIDENCE, MUST BE IN WRITING, EXPRESS CONSIDERATION, AND BE SIGNED BY THE LENDERS TO BE ENFORCEABLE. 

 

									
	 U.S. BANK NATIONAL ASSOCIATION,
 as the Agent, the Issuing Bank, and a Lender
	 	 	 	TRIPWIRE, INC.
					
	By	 	 /S/ Brianne M. Bennett
	 		 	By	 	 /S/ Kelly E. Lang

		 	Brianne M. Bennett	 		 		 	Name: Kelly E. Lang
		 	Vice President	 		 		 	Title:   Chief Financial Officer

  
 - 4 -

			
	SILICON VALLEY BANK
		
	By	 	 /S/ Todd Hardy

		 	Name: Todd Hardy
		 	Title: Relationship Manager

  
 - 5 -

 EXHIBIT A 
 SCHEDULE 3.1 
 Commitments of the Lenders 

 

									
	 	  	Commitment	 	  	Applicable Percentage	 
	 U.S. Bank National Association
	  	$	17,857,500.00	  	  	 	71.430000000000	  
	 Silicon Valley Bank
	  	$	7,142,500.00	  	  	 	28.570000000000	  
		  	 	 	 	  	 	 	 
	 Total Commitments
	  	$	25,000,000.00	  	  	 	100.000000000000	  

 EXHIBIT B 
 SCHEDULE 15.8 
 Addresses for Notices 

 

					
	TRIPWIRE:	  	Tripwire, Inc.
		  	Suite 1500
		  	101 S.W. Main Street
		  	Portland, Oregon 97204
		  	Attention:	  	Robert McCarthy
		  		  	Vice President Finance
		  	Telephone:	  	(503) 276-7544
		  	Telecopier:	  	(503) 276-7644
		
	U.S. BANK (as the Administrative Agent,	  	U.S. Bank National Association
	a Lender, and the Issuing Bank):	  	Oregon Commercial Banking Division
		  	Suite 400
		  	111 S.W. Fifth Avenue
		  	Portland, Oregon 97204
		  	Attention:	  	Ms. Brianne M. Bennett
		  		  	Vice President
		  	Telephone:	  	(503) 275-5386
		  	Telecopier:	  	(503) 275-5795
		
	SVB:	  	Silicon Valley Bank
		  	Suite 240
		  	8705 S.W. Nimbus Street
		  	Beaverton, Oregon 97008
		  	Attention:	  	Mr. Ron Sherman
		  		  	Senior Relationship Manager
		  	Telephone:	  	(503) 574-3706
		  	Telecopier:	  	(503) 526-0818

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