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Exhibit 10.2  

 
 

Incentive Stock Option Agreement
  under the Third Amended and Restated BladeLogic, Inc.
  2001 Stock Option and Grant Plan    
    

	 	Name of Optionee:	 	(the "Optionee")
	

 	

No. of Option Shares:	
 	

Shares of Common Stock
	

 	

Grant Date:	
 	

(the "Grant Date")
	

 	

Vesting Date:	
 	

(the "Vesting Date")
	

 	

Expiration Date:	
 	

(the "Expiration Date")
	

 	

Option Exercise Price/Share:	
 	

(the "Option Exercise Price")

        Pursuant
to the Third Amended and Restated BladeLogic, Inc. 2001 Stock Option and Grant Plan (the "Plan"), BladeLogic, Inc., a Delaware corporation (together with all
successors thereto, the
"Company"), hereby grants to the Optionee, who is an employee of the Company or any of its Subsidiaries, an option (the "Stock Option") to purchase on or prior to the Expiration Date, or such earlier
date as is specified herein, all or any part of the number of shares of Common Stock of the Company, par value $0.001 per share ("Common Stock"), indicated above (the "Option Shares", and such shares
once issued shall be referred to as the "Issued Shares"), at the Option Exercise Price per share, subject to the terms and conditions set forth in this Incentive Stock Option Agreement (this
"Agreement") and in the Plan. This Stock Option is intended to qualify as an "incentive stock option" as defined in Section 422(b) of the Internal Revenue Code of 1986, as amended from time to
time (the "Code"). To the extent that any portion of the Stock Option does not so qualify, it shall be deemed a non-qualified stock option. 

        1.    Definitions.    For the purposes of this Agreement, the following terms shall have the following respective
meanings. All capitalized terms used herein and not otherwise defined shall have the respective meanings set forth in the Plan. 

        An
"Affiliate" of any Person means a Person that directly or indirectly, through one or more intermediaries, controls, is controlled by or
is under common control with the first mentioned Person. A Person shall be deemed to control another Person if such first Person possesses directly or indirectly the power to direct, or cause the
direction of, the management and policies of the second Person, whether through the ownership of voting securities, by contract or otherwise. 

        "Cause" means a vote of the Board resolving that the Optionee should be dismissed as a result of (i) the commission of any act by
the Optionee constituting financial dishonesty against the Company (which act would be chargeable as a crime under applicable law); (ii) the Optionee's engaging in any other act of dishonesty,
fraud, intentional misrepresentation, moral turpitude, illegality or harassment which, as determined in good faith by the Board, would: (A) materially adversely affect the business or the
reputation of the Company with its current or prospective customers, suppliers, lenders and/or other third parties with whom it does or might do business; or (B) expose the Company to a risk of
civil or criminal legal damages, liabilities or penalties; (iii) the repeated failure by the Optionee to follow the directives of the Company's chief executive officer or Board or
(iv) any material misconduct, violation of the Company's policies, or willful and deliberate non-performance of duty by the Optionee in connection with the business affairs of the
Company. 

        "Initial Public Offering" means the closing of a firm commitment underwritten public offering of the Company yielding aggregate net
proceeds to the Company of at least $15,000,000 at a price per share of Common Stock of at least $2.50 (as appropriately adjusted for stock splits, stock combinations, stock dividends and
recapitalizations). 

 

        "Permitted Transferees" means any of the following to whom the Optionee may transfer Issued Shares hereunder (as set forth in
Section 8): the Optionee's spouse, children (natural or adopted), stepchildren or a trust for their sole benefit of which the Optionee is the settlor; provided,
however, that any such trust does not require or permit distribution of any Issued Shares during the term of this Agreement unless subject to this Agreement. Upon the death of
the Optionee (or a Permitted Transferee to whom shares have been transferred hereunder), the term Permitted Transferees shall also include such deceased Optionee's (or such deceased Permitted
Transferee's) estate, executors, administrators, personal representatives, heirs, legatees and distributees, as the case may be. 

        "Person" means any individual, corporation, partnership (limited or general), limited liability company, limited liability partnership,
association, trust, joint venture, unincorporated organization or any similar entity. 

        "Sale Event" means any of (i) the dissolution or liquidation of the Company, (ii) the sale of all or substantially all of
the assets of the Company on a consolidated basis to an unrelated person or entity, (iii) a merger, reorganization or consolidation in which the outstanding shares of Common Stock are converted
into or exchanged for securities of the successor entity and the holders of the Company's outstanding voting power immediately prior to such transaction do not own a majority of the outstanding voting
power of the successor entity immediately upon completion of such transaction, (iv) the sale of all or a majority of the outstanding capital stock of the Company to an unrelated person or
entity or (v) any other transaction in which the owners of the Company's outstanding voting power immediately prior to such transaction do not own at least a majority of the outstanding voting
power of the successor entity immediately upon completion of the transaction. 

        "Subsidiary" means any corporation (other than the Company) in any unbroken chain of corporations or other entities beginning with the
Company if each of the corporations (other than the last corporation in the unbroken chain) owns stock or other interests possessing 50 percent or more of the total combined voting power of all
classes of stock or in one of the other corporations in the chain. 

        2.    Vesting, Exercisability and Termination.    

        (a)   No
portion of this Stock Option may be exercised until such portion shall have vested. 

        (b)   Subject
to Section 6 and to the determination of the Committee in its sole discretion to accelerate the vesting schedule hereunder, this Stock Option shall become
vested and exercisable with respect to the Option Shares on the respective dates indicated below: 

	Incremental Percentage of Option

Shares Becoming Vested
 
	 	Vesting Date

	25%	 	12 months from the Vesting Date
	

2.0833%	
 	

The 28th day of each month thereafter for the following 36 months

        (c)    Termination.    Except as may otherwise be provided by the Committee, if the Optionee's employment with the
Company or a Subsidiary is terminated, the period within which to exercise this Stock Option may be subject to earlier termination as set forth below: 

        (i)    Termination Due to Death or Disability.    If the Optionee's employment terminates by reason of such Optionee's
death or disability (as defined in Section 422(c) of the Code), vesting hereunder shall cease on the date of such termination and this Stock Option may be exercised by the Optionee, the
Optionee's legal representative or legatee for a period of 12 months from the date of such termination by death or disability or until the Expiration Date, if earlier, subject in any event to
Section 6. 

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        (ii)    Other Termination.    If the Optionee's employment terminates for any reason other than death or disability,
and unless otherwise determined by the Committee, vesting hereunder shall cease on the date of such termination and this Stock Option may be exercised for a period of 90 days from the date of
termination or until the Expiration Date, if earlier; provided however, if the Optionee's employment is terminated for Cause, this Stock Option shall terminate immediately upon the date of such
termination. 

        For
purposes hereof, the Committee's determination of the reason for termination of the Optionee's employment shall be conclusive and binding on the Optionee and his or her
representatives or legatees or Permitted Transferees. 

        (d)   It
is understood and intended that this Stock Option is intended to qualify as an "incentive stock option" as defined in Section 422 of the Code to the extent
permitted under applicable law. Accordingly, the Optionee understands that in order to obtain the benefits of an incentive stock option under Section 422 of the Code, no sale or other
disposition may be made of Issued Shares for which incentive stock option treatment is desired within the one-year period beginning on the day after the day of the transfer of such Issued
Shares to him or her, nor within the two-year period beginning on the day after the grant of this Stock Option and further that this Stock Option must be exercised within three
(3) months after termination of employment as an employee (or 12 months in the case of death or disability) to qualify as an incentive stock option. If the Optionee disposes (whether by
sale, gift, transfer or otherwise) of any such Issued Shares within either of these periods, he or she will notify the Company within 30 days after such disposition. The Optionee also agrees to
provide the Company with any information concerning any such dispositions required by the Company for tax purposes. Further, to the extent Option Shares and any other incentive stock options of the
Optionee having an aggregate Fair Market Value in excess of $100,000 (determined as of the Grant Date) vest in any year, such options will not qualify as incentive stock options. 

        3.    Exercise of Stock Option.    

        (a)   The
Optionee may exercise this Stock Option only in the following manner: Prior to the Expiration Date (subject to Section 6), the Optionee may deliver a Stock
Option exercise notice (an "Exercise Notice") in the form of Appendix A hereto indicating his or her election to purchase some or all of the Option Shares then subject to this Stock Option.
Such notice shall specify the number of Option Shares to be purchased. Payment of the purchase price may be made by one or more of the methods described below. Payment instruments will be received
subject to collection. 

        (i)    in
cash, by certified or bank check, or other instrument acceptable to the Committee in U.S. funds payable to the order of the Company in an amount equal to the purchase
price of such Option Shares; 

        (ii)   by
the Optionee delivering to the Company a promissory note if the Board has expressly authorized the loan of funds to the Optionee for the purpose of enabling or
assisting the Optionee to effect the exercise of his or her Stock Option; provided that at least so much of the exercise price as represents the par value of the Common Stock shall be paid other than
with a promissory note if otherwise required by state law; or 

        (iii)  if
the Initial Public Offering has occurred, then (A) through the delivery (or attestation to ownership) of shares of Common Stock that have been purchased by
the Optionee on the open market or that have been held by the Optionee for at least six months and are not subject to restrictions under any plan of the Company and in any event with an aggregate Fair
Market Value (as of the date of such exercise) equal to the option purchase price, (B) 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 

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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 (C) a
combination of (i), (ii), (iii)(A) and (iii)(B) above. 

        (b)   Certificates
for the Option Shares so purchased will be issued and delivered to the Optionee upon compliance to the satisfaction of the Committee with all requirements
under applicable laws or regulations in connection with such issuance. Until the Optionee shall have complied with the requirements hereof and of the Plan, the Company shall be under no obligation to
issue the Option Shares subject to this Stock Option, and 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 Common Stock subject to this Stock Option unless and until this Stock Option shall have been exercised pursuant
to the terms hereof, the Company shall have issued and delivered the Issued Shares to the Optionee, and the Optionee's name shall have been entered as a stockholder of record on the books of the
Company. Thereupon, the Optionee shall have full dividend and other ownership rights with respect to such Issued Shares, subject to the terms of this Agreement. 

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

        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. 

        5.    Transferability of Stock Option.    This Agreement is personal to the Optionee and is not transferable by the
Optionee in any manner other than by will or by the laws of descent and distribution. The Stock Option may be exercised during the Optionee's lifetime only by the Optionee (or by the Optionee's
guardian or personal representative in the event of the Optionee's incapacity). The Optionee may elect to designate a beneficiary by providing written notice of the name of such beneficiary to the
Company, and may revoke or change such designation at any time by filing written notice of revocation or change with the Company; such beneficiary may exercise the Optionee's Stock Option in the event
of the Optionee's death to the extent provided herein. If the Optionee does not designate a beneficiary, or if
the designated beneficiary predeceases the Optionee, the legal representative of the Optionee may exercise this Stock Option to the extent provided herein in the event of the Optionee's death. 

        6.    Effect of Certain Transactions.    In the case of a Sale Event, this Stock Option shall terminate upon the
effective time of any such Sale Event unless provision is made in connection with such transaction in the sole discretion of the parties thereto for the continuation or assumption of this Stock Option
heretofore granted by the successor entity, or the substitution of this Stock Option with a new Stock Option of the successor entity or a parent or subsidiary thereof, with such adjustment as to the
number and kind of shares and the per share exercise prices as such parties shall agree. In the event of such termination, the Optionee shall be permitted, within a specified period of time prior to
the consummation of the Sale Event as determined by the Committee, to exercise all portions of the Stock Option which are then exercisable; provided however, that the exercise of any portion of the
Stock Option not exercisable prior to the Sale Event shall be subject to the consummation of the Sale Event. 

        7.    Withholding Taxes.    The Optionee shall, not later than the date as of which the exercise of this Stock Option
becomes a taxable event for federal income tax purposes, pay to the Company or make arrangements satisfactory to the Committee for payment of any federal, state and local taxes required by law to be
withheld on account of such taxable event. Subject to approval by the Committee, the Optionee may elect to have the minimum tax withholding obligation satisfied, in whole or in part, by authorizing
the Company to withhold from shares of Common Stock to be issued or transferring to the 

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Company,
a number of shares of Common Stock with an aggregate Fair Market Value that would satisfy the minimum withholding amount due. The Optionee acknowledges and agrees that the Company or any
Subsidiary of the Company has the right to deduct from payments of any kind otherwise due to the Optionee, or from the Option Shares to be issued in respect of an exercise of this Stock Option, any
federal, state or local taxes of any kind required by law to be withheld with respect to the issuance of Option Shares to the Optionee. 

        8.    Restrictions on Transfer of Issued Shares.    None of the Issued Shares acquired upon exercise of the Stock
Option shall be sold, assigned, transferred, pledged, hypothecated, given away or in any other manner disposed of or encumbered, whether voluntarily or by operation of law, unless such transfer is in
compliance with all applicable securities laws (including, without limitation, the Securities Act of 1933, as amended, and the rules and regulations thereunder (the "Act")), and such disposition is in
accordance with the terms and conditions of this Section 8 and such disposition does not cause the Company to become subject to the reporting requirements of the Securities Exchange Act of
1934, as amended. In connection with any transfer of Issued Shares, the Company may require the transferor to provide at the Optionee's own expense an opinion of counsel to the transferor,
satisfactory to the Company, that such transfer is in compliance with all foreign, federal and state securities laws (including, without limitation, the Act). Any attempted disposition of Issued
Shares not in accordance with the terms and conditions of this Section 8 shall be null and void, and the Company shall not reflect on its records any change in record ownership of any Issued
Shares as a result of any such disposition, shall otherwise refuse to recognize any such disposition and shall not in any way give effect to any such
disposition of any Issued Shares. Subject to the foregoing general provisions, Issued Shares may be transferred pursuant to the following specific terms and conditions: 

        (a)    Transfers to Permitted Transferees.    The Optionee may sell, assign, transfer or give away any or all of the
Issued Shares to Permitted Transferees; provided, however, that such Permitted Transferee(s) shall, as a condition to any such transfer, agree to be subject to the provisions of this Agreement to the
same extent as the Optionee (including, without limitation, the provisions of Sections 8, 10 and 11) and shall have delivered a written acknowledgment to that effect to the Company. 

        (b)    Transfers Upon Death.    Upon the death of the Optionee, any Issued Shares then held by the Optionee at the
time of such death and any Issued Shares acquired thereafter by the Optionee's legal representative pursuant to this Agreement shall be subject to the provisions of Sections 8, 10 and 11, if
applicable, and the Optionee's estate, executors, administrators, personal representatives, heirs, legatees and distributees shall be obligated to convey such Issued Shares to the Company or its
assigns under the terms contemplated hereby. 

        (c)    Company's Right of First Refusal.    In the event that the Optionee (or any Permitted Transferee holding Issued
Shares subject to this Section 8(c)) desires to sell or otherwise transfer all or any part of the Issued Shares, the Optionee (or Permitted Transferee) first shall give written notice to the
Company of the Optionee's (or Permitted Transferee's) intention to make such transfer. Such notice shall state the number of Issued Shares which the Optionee (or Permitted Transferee) proposes to sell
(the "Offered Shares"), the price and the terms at which the proposed sale is to be made and the name and address of the proposed transferee. At any time within 10 days after the receipt of
such notice by the Company, the Company or its assigns may elect to purchase all or any portion of the Offered Shares at the price and on the terms offered by the proposed transferee and specified in
the notice. The Company or its assigns shall exercise this right by mailing or delivering written notice to the Optionee (or Permitted Transferee) within the foregoing 10-day period. If
the Company or its assigns elect to exercise its purchase rights under this Section 8(c), the closing for such purchase shall, in any event, take place within 45 days after the receipt
by the Company of the initial notice from the Optionee (or Permitted Transferee). In the event that the Company or its assigns do not elect to exercise such purchase right, or in the 

5

 

event
that the Company or its assigns do not pay the full purchase price within such 45-day period, the Optionee (or Permitted Transferee) may, within 60 days thereafter, sell the
Offered Shares to the proposed transferee and at the same price and on the same terms as specified in the Optionee's (or Permitted Transferee's) notice; provided, that after the expiration of such
60-day period, any proposed transfer must comply with all of the provisions of this Section 8(c). Any Shares purchased by such proposed transferee shall no longer be subject to the
terms of this Agreement. Any Shares not sold to the proposed transferee shall remain subject to this Agreement. Notwithstanding the foregoing, the restrictions under this Section 8(c) shall
terminate upon the closing of the Company's Initial Public Offering or upon consummation of any Sale Event, in either case as a result of which shares of the Company (or successor entity) of the same
class as the Issued Shares are registered under Section 12 of the Exchange Act and publicly traded on NASDAQ/NMS or any national securities exchange. 

        9.    Escrow Arrangement.    

        (a)    Escrow.    In order to carry out the provisions of Sections 8 and 10 of this Agreement more effectively, the
Company shall hold any Issued Shares in escrow together with separate stock powers executed by the Optionee in blank for transfer, and any Permitted Transferee shall, as an additional condition to any
transfer of Issued Shares, execute a like stock power as to such Issued Shares. The Company shall not dispose of the Issued Shares except as otherwise provided in this Agreement. In the event of any
repurchase by the Company (or any of its assigns), the Company is hereby authorized by the Optionee and any Permitted Transferee, as the Optionee's and each such Permitted Transferee's
attorney-in-fact, to date and complete the stock powers necessary for the transfer of the Issued Shares being purchased and to transfer such Issued Shares in accordance with
the terms hereof. At such time as any Issued Shares are no longer subject to the Company's repurchase, first refusal and drag along rights, the Company shall, at the written request of the Optionee,
deliver to the Optionee (or the relevant Permitted Transferee) a certificate representing such Issued Shares with the balance of the Issued Shares to be held in escrow pursuant to this
Section 9. 

        (b)    Remedy.    Without limitation of any other provision of this Agreement or other rights, in the event that the
Optionee, any Permitted Transferees or any other person or entity is required to sell the Optionee's Issued Shares pursuant to the provisions of Sections 8 and 10 of this Agreement and in the further
event that he or she refuses or for any reason fails to deliver to the Company or its designated purchaser of such Issued Shares the certificate or certificates evidencing such Issued Shares together
with a related stock power, the Company or such designated purchaser may deposit the applicable purchase price for such Issued Shares with a bank designated by the Company, or with the Company's
independent public accounting firm, as agent or trustee, or in escrow, for the Optionee, any Permitted Transferees or other person or entity, to be held by such bank or accounting firm for the benefit
of and for delivery to him, her, them or it, and/or, in its discretion, pay such purchase price by offsetting any indebtedness then owed by the Optionee as provided above. Upon any such deposit and/or
offset by the Company or its designated purchaser of such amount and upon notice to the person or entity who was required to sell the Issued Shares to be sold pursuant to the provisions of Sections 8
and 10, such Issued Shares shall at such time be deemed to have been sold, assigned, transferred and conveyed to such purchaser, the holder thereof shall have no further rights thereto (other than the
right to withdraw the payment thereof held in escrow, if applicable), and the Company shall record such transfer in its stock transfer book or in any appropriate manner. 

        10.    Drag Along Right.    In the event the holders of a majority of the Company's equity securities then outstanding
(the "Majority Shareholders") determine to sell or otherwise dispose of all or substantially all of the assets of the Company or all or fifty percent (50%) or more of the capital stock of the Company
in each case in a transaction constituting a change in control of the Company, to any 

6

 

non-Affiliate(s)
of the Company or any of the Majority Shareholders, or to cause the Company to merge with or into or consolidate with any non-Affiliate(s) of the Company or
any of the Majority Shareholders (in each case, the "Buyer") in a bona fide negotiated transaction (a "Sale"), the Optionee, including any Permitted
Transferees, shall be obligated to and shall upon the written request of the Majority Shareholders (subject to Section 6): (a) sell, transfer and deliver, or cause to be sold,
transferred and delivered, to the Buyer, his or her Issued Shares (including for this purpose all of such Optionee's or his or her Permitted Transferee's Issued Shares that presently or as a result of
any such transaction may be acquired upon the exercise of options (following the payment of the exercise price therefor)) on substantially the same terms applicable to the Majority Shareholders (with
appropriate adjustments to reflect the conversion of convertible securities, the redemption of redeemable securities and the exercise of exercisable securities as well as the relative preferences and
priorities of preferred stock); and (b) execute and deliver such instruments of conveyance and transfer and take such other actions, including voting such Issued Shares in favor of any Sale
proposed by the Majority Shareholders and executing any purchase agreements, merger agreements, indemnity agreements, escrow agreements or related documents, as the Majority Shareholders or the Buyer
may reasonably require in order to carry out the terms and provisions of this Section 10. The obligations under this Section 10 shall terminate upon the Closing of the Company's Initial
Public Offering or upon consummation of any Sale Event, in either case as a result of which shares of the Company (or successor entity) of the same class as the Issued Shares are registered under
Section 12 of the Exchange Act and publicly traded on NASDAQ/NMS or any national securities exchange. 

        11.    Lockup Provision.    The Optionee agrees, if requested by the Company and any underwriter engaged by the
Company, not to sell or otherwise transfer or dispose of any Issued Shares (including, without limitation pursuant to Rule 144 under the Act) held by him or her for such period following the
effective date of any registration statement of the Company filed under the Act as the Company or such underwriter shall specify reasonably and in good faith, not to exceed 180 days in the case
of the Company's Initial Public Offering or 90 days in the case of any other public offering. The Optionee will enter into the underwriter's form of lockup agreement if requested. 

        12.    Miscellaneous Provisions.    

        (a)    Equitable Relief.    The parties hereto agree and declare that legal remedies may be inadequate to enforce the
provisions of this Agreement and that equitable relief, including specific performance and injunctive relief, may be used to enforce the provisions of this Agreement. 

        (b)    Adjustments for Changes in Capital Structure.    If, as a result of any reorganization, recapitalization,
reclassification, stock dividend, stock split, reverse stock split or other similar change in the Common
Stock, the outstanding shares of Common Stock are increased or decreased or are exchanged for a different number or kind of shares of the Company's stock, the provisions of this Agreement shall apply
with equal force to additional and/or substitute securities, if any, received by the Optionee in exchange for, or by virtue of his or her ownership of, Issued Shares. 

        (c)    Change and Modifications.    This Agreement may not be orally changed, modified or terminated, nor shall any
oral waiver of any of its terms be effective. This Agreement may be changed, modified or terminated only by an agreement in writing signed by the Company and the Optionee. 

        (d)    Governing Law.    This Agreement shall be governed by and construed in accordance with the laws of Delaware
without regard to conflict of law principles. 

        (e)    Headings.    The headings are intended only for convenience in finding the subject matter and do not constitute
part of the text of this Agreement and shall not be considered in the interpretation of this Agreement. 

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        (f)    Saving Clause.    If any provision(s) of this Agreement shall be determined to be illegal or unenforceable,
such determination shall in no manner affect the legality or enforceability of any other provision hereof. 

        (g)    Notices.    All notices, requests, consents and other communications shall be in writing and be deemed given
when delivered personally, by telex or facsimile transmission or when received if mailed by first class registered or certified mail, postage prepaid. Notices to the Company or the Optionee shall be
addressed as set forth underneath their signatures below, or to such other address or addresses as may have been furnished by such party in writing to the other. 

        (h)    Benefit and Binding Effect.    This Agreement shall be binding upon and shall inure to the benefit of the
parties hereto, their respective successors, permitted assigns, and legal representatives. The Company has the right to assign this Agreement, and such assignee shall become entitled to all the rights
of the Company hereunder to the extent of such assignment. 

        (i)    Dispute Resolution.    Except as provided below, any dispute arising out of or relating to this Agreement or
the breach, termination or validity hereof shall be finally settled by binding arbitration conducted expeditiously in accordance with the J.A.M.S./Endispute Comprehensive Arbitration Rules and
Procedures (the "J.A.M.S. Rules"). The arbitration shall be governed by the United States Arbitration
Act, 9 U.S.C. §§1-16, and judgment upon the award rendered by the arbitrators may be entered by any court having jurisdiction thereof. The place of arbitration
shall be Boston, Massachusetts. 

        The
parties covenant and agree that the arbitration shall commence within 60 days of the date on which a written demand for arbitration is filed by any party hereto. In connection
with the arbitration proceeding, the arbitrator shall have the power to order the production of documents by each party and any third-party witnesses. In addition, each party may take up to three
(3) depositions as of right, and the arbitrator may in his or her discretion allow additional depositions upon good cause shown by the moving party. However, the arbitrator shall not have the
power to order the answering of interrogatories or the response to requests for admission. In connection with any arbitration, each party shall provide to the other, no later than seven
(7) business days before the date of the arbitration, the identity of all persons that may testify at the arbitration and a copy of all documents that may be introduced at the arbitration or
considered or used by a party's witness or expert. The arbitrator's decision and award shall be made and delivered within six (6) months of the selection of the arbitrator. The arbitrator's
decision shall set forth a reasoned basis for any award of damages or finding of liability. The arbitrator shall not have power to award damages in excess of actual compensatory damages and shall not
multiply actual damages or award punitive damages or any other damages that are specifically excluded under this Agreement, and each party hereby irrevocably waives any claim to such damages. 

        The
parties covenant and agree that they will participate in the arbitration in good faith. This Section 12(i) applies equally to requests for temporary, preliminary or
permanent injunctive relief, except that in the case of temporary or preliminary injunctive relief any party may proceed in court without prior arbitration for the limited purpose of avoiding
immediate and irreparable harm. 

        Each
of the parties hereto (i) hereby irrevocably submits to the jurisdiction of any United States District Court of competent jurisdiction for the purpose of enforcing the award
or decision in any such proceeding, (ii) hereby waives, and agrees not to assert, by way of motion, as a defense, or otherwise, in any such suit, action or proceeding, any claim that it is not
subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment or execution (except as protected by applicable law), that the suit, action or
proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper or that this Agreement or the subject matter hereof may not be enforced in or by such 

8

 

court,
and hereby waives and agrees not to seek any review by any court of any other jurisdiction which may be called upon to grant an enforcement of the judgment of any such court. Each of the
parties hereto hereby consents to service of process by registered mail at the address to which notices are to be given. Each of the parties hereto agrees that its, his or her submission to
jurisdiction and its, his or her consent to service of process by mail is made for the express benefit of the other parties hereto. Final judgment against any party hereto in any such action, suit or
proceeding may be enforced in other jurisdictions by suit, action or proceeding on the judgment, or in any other manner provided by or pursuant to the laws of such other jurisdiction. 

        (j)    Counterparts.    For the convenience of the parties and to facilitate execution, this Agreement may be executed
in two or more counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same document. 

[SIGNATURE
PAGE FOLLOWS] 

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        The
foregoing Agreement is hereby accepted and the terms and conditions thereof hereby agreed to by the undersigned as of the date first above written. 

	 	 	BLADELOGIC, INC.
	

 	
 	

By:	

 
 Name:

Title:
	

 	
 	

Address: 10 Maguire Road, Building 3

               Lexington, Massachusetts 02421

        The
foregoing Agreement is hereby accepted and the terms and conditions thereof hereby agreed to by the undersigned as of the date first above written. 

	 	 	OPTIONEE:
	

 	
 	

 Name:
	

 	
 	

Address:
	

 	
 	

	

 	
 	

	

 	
 	

	SPOUSE'S CONSENT

I acknowledge that I have read the

foregoing Incentive Stock Option Agreement

and understand the contents thereof.	 	 	 
	 	 	DESIGNATED BENEFICIARY:
	

	
 	

 

	 	 	Beneficiary's Address:
	

 	
 	

	

 	
 	

	

 	
 	

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Appendix A
  
    STOCK OPTION EXERCISE NOTICE    
    

BladeLogic, Inc.

Attention: Controller

10 Maguire Road

Building 3

Lexington, Massachusetts 02421 

        Pursuant
to the terms of my stock option agreement(s), date(s) below, (the "Agreement(s)") under the Third Amended and Restated BladeLogic, Inc. 2001 Stock Option and Grant Plan,
I, [Insert Name] 

                                        
                                ,
 

hereby
exercise such option by including herein payment in the amount of (D)$                     

representing the purchase price for [Fill in number of Option Shares] (C)                      option shares. 

	Grant Date
 
	 	Options Granted
 
	 	(A)

Options Exercised
 
	 	 
	 	(B)

Price
 
	 	(A multiplied by B)

Amount Due
 

	 	 	 	 	 	 	 	 	$	 	 	$	 
	
	 	
	 	
	 	 	 	
	 	

	 	 	 	 	 	 	 	 	$	 	 	$	 
	
	 	
	 	
	 	 	 	
	 	

	 	 	 	 	 	 	 	 	$	 	 	$	 
	
	 	
	 	
	 	 	 	
	 	

	 	 	 	 	 	 	 	 	$	 	 	$	 
	
	 	
	 	
	 	 	 	
	 	

	 	 	 	 	 	 	Shares	 	 	 	 	$	 
	 	 	 	 	
	 	 	 	 	 	 	

	 	 	 	 	(C)	 	 	 	 	 	 	 	(D)

        I
have chosen the following form(s) of payment: 

	o	1.	 	Cash
	o	2.	 	Certified or bank check payable to BladeLogic, Inc.
	o	3.	 	Other (as described in the Agreement (please describe))
	

    	

 	
 	

 

        In
connection with my exercise of the option as set forth above, I hereby represent and warrant to BladeLogic, Inc. as follows: 

          (i)  I
am purchasing the option shares for my own account for investment only, and not for resale or with a view to the distribution thereof. 

         (ii)  I
have had such an opportunity as I have deemed adequate to obtain from BladeLogic, Inc. such information as is necessary to permit me to evaluate the merits and
risks of my investment in BladeLogic, Inc. and have consulted with my own advisers with respect to my investment in BladeLogic, Inc. 

        (iii)  I
have sufficient experience in business, financial and investment matters to be able to evaluate the risks involved in the purchase of the option shares and to make
an informed investment decision with respect to such purchase. 

        (iv)  I
can afford a complete loss of the value of the option shares and am able to bear the economic risk of holding such option shares for an indefinite period of time. 

         (v)  I
understand that the option shares may not be registered under the Securities Act of 1933 (it being understood that the option shares are being issued and sold in
reliance on the exemption provided in Rule 701 thereunder) or any applicable state securities or "blue sky" laws 

11

 

and
may not be sold or otherwise transferred or disposed of in the absence of an effective registration statement under the Securities Act of 1933 and under any applicable state securities or "blue
sky" laws (or exemptions from the registration requirement thereof). I further acknowledge that certificates representing option shares will bear restrictive legends reflecting the foregoing. 

	 	Sincerely yours,
	

 	

 Signature	
 	

 Date
	

 	

 Print Name	
 	

 
	

 	

Address:	
 	

 
	

 	

	
 	

 
	

 	

	
 	

 
	

 	

	
 	

 
	

 	

 E-mail address	
 	

 

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QuickLinks

Incentive Stock Option Agreement under the Third Amended and Restated BladeLogic, Inc. 2001 Stock Option and Grant Plan

Appendix A STOCK OPTION EXERCISE NOTICEQuickLinks
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Exhibit 10.3  

 
 

Non-Qualified Stock Option Agreement
  under the Third Amended and Restated BladeLogic, Inc.
  2001 Stock Option and Grant Plan    
    

	Name of Optionee:	(the "Optionee")
	
No. of Option Shares:	
Shares of Common Stock
	
Grant Date:	
(the "Grant Date")
	
Vesting Date:	
(the "Vesting Date")
	
Expiration Date:	
(the "Expiration Date")
	
Option Exercise Price/Share:	
(the "Option Exercise Price")

        Pursuant to the Third Amended and Restated BladeLogic, Inc. 2001 Stock Option and Grant Plan (as amended from time to time, the "Plan"),
BladeLogic, Inc., a Delaware corporation (together with all successors thereto, the "Company"), hereby grants to the Optionee, who is an officer, employee, director, consultant or other key
person of the Company or any of its Subsidiaries, an option (the "Stock Option") to purchase on or prior to the Expiration Date, or such earlier date as is specified herein, all or any part of the
number of shares of Common Stock of the Company, par value $0.001 per share ("Common Stock"), indicated above (the "Option Shares", and such shares once issued shall be referred to as the "Issued
Shares"), at the Option Exercise Price per share, subject to the terms and conditions set forth in this Non-Qualified Stock Option Agreement (this "Agreement") and in the Plan. This Stock
Option is not intended to qualify as an "incentive stock option" as defined in Section 422(b) of the Internal Revenue Code of 1986, as amended from time to time (the "Code"). 

        1.    Definitions.    For the purposes of this Agreement, the following terms shall have the following respective
meanings. All capitalized terms used herein and not otherwise defined shall have the respective meanings set forth in the Plan. 

        An
"Affiliate" of any Person means a Person that directly or indirectly, through one or more intermediaries, controls, is controlled by or
is under common control with the first mentioned Person. A Person shall be deemed to control another Person if such first Person possesses directly or indirectly the power to direct, or cause the
direction of, the management and policies of the second Person, whether through the ownership of voting securities, by contract or otherwise. 

        "Cause" means a vote of the Board resolving that the Optionee should be dismissed as a result of (i) fraud, misappropriation,
embezzlement or other act of material misconduct against the Company or any of its affiliates, including without limitation, unauthorized use or disclosure of Company confidential information or trade
secrets; (ii) conviction of any criminal act involving a felony or crime of moral turpitude, including without limitation, misappropriation of funds or property; (iii) willful and
knowing violation of any rules or regulations of any governmental or regulatory body material to the business of the Company, including without limitation, of any such rules or regulations related to
sexual harassment; (iv) any intentional or material failure to perform Optionee's employment duties or obligations hereunder or material gross negligence in performance of such duties;
(v) any material breach of terms of Optionee's offer letter or Non-Competition, Non-Disclosure and Developments Agreement with the Company; or (vi) a good faith
determination by the CEO based on objective evidence that the use of drugs or alcohol is significantly interfering with Optionee's performance of Optionee's duties hereunder. 

        "Initial Public Offering" means the closing of a firm commitment underwritten public offering of the Company yielding aggregate net
proceeds to the Company of at least $15,000,000 at a price per share
of Common Stock of at least $2.50 (as appropriately adjusted for stock splits, stock combinations, stock dividends and recapitalizations). 

 

        "Permitted Transferees" means any of the following to whom the Optionee may transfer Issued Shares hereunder (as set forth in
Section 8): the Optionee's spouse, children (natural or adopted), stepchildren or a trust for their sole benefit of which the Optionee is the settlor; provided,
however, that any such trust does not require or permit distribution of any Issued Shares during the term of this Agreement unless subject to this Agreement. Upon the death of
the Optionee (or a Permitted Transferee to whom shares have been transferred hereunder), the term Permitted Transferees shall also include such deceased Optionee's (or such deceased Permitted
Transferee's) estate, executors, administrators, personal representatives, heirs, legatees and distributees, as the case may be. 

        "Person" means any individual, corporation, partnership (limited or general), limited liability company, limited liability partnership,
association, trust, joint venture, unincorporated organization or any similar entity. 

        "Sale Event" means (i) the sale of all or substantially all of the assets of the Company on a consolidated basis to an unrelated
person or entity, (ii) a merger, reorganization or consolidation in which the outstanding shares of the Company's capital stock are converted into or exchanged for securities of the successor
entity and the holders of the Company's outstanding voting power immediately prior to such transaction do not own a majority of the outstanding voting power of the successor entity immediately upon
completion of such transaction, (iii) a sale or issuance of outstanding capital stock of the Company to an unrelated person or entity in which the number of shares of the Company's outstanding
voting stock immediately prior the effective date of such transaction are converted into exchanged or represent less than a majority of the voting stock of the successor entity immediately upon
completion of the transaction; provided, however, that a sale of the Company's equity for the purpose of fundraising (including pursuant to an Initial
Public Offering or otherwise) shall not be deemed a Sale Event. 

        "Subsidiary" means any corporation (other than the Company) in any unbroken chain of corporations or other entities beginning with the
Company if each of the corporations (other than the last corporation in the unbroken chain) owns stock or other interests possessing 50 percent or more of the total combined voting power of all
classes of stock or in one of the other corporations in the chain. 

        2.    Vesting, Exercisability and Termination.    

        (a)   No
portion of this Stock Option may be exercised until such portion shall have vested. 

        (b)   Subject
to Section 6 and to the determination of the Committee in its sole discretion to accelerate the vesting schedule hereunder, this Stock Option shall become
vested and exercisable with respect to the Option Shares on the respective dates indicated below: 

	Incremental Percentage of Option

Shares Becoming Vested
	 	Vesting Date

	25%	 	12 months from the Vesting Date
	

2.0833%	
 	

The 28th day of each month thereafter for the following 36 months

        (c)    Termination.    Except as may otherwise be provided by the Committee, if the Optionee's employment with the
Company or a Subsidiary is terminated, the period within which to exercise this Stock Option may be subject to earlier termination as set forth below: 

        (i)    Termination Due to Death or Disability.    If the Optionee's employment terminates by reason of such Optionee's
death or disability (as defined in Section 422(c) of the Code), vesting hereunder shall cease on the date of such termination and this Stock Option may be exercised by the Optionee, the
Optionee's legal representative or legatee for a period of 

2

 

12 months
from the date of such termination by death or disability or until the Expiration Date, if earlier, subject in any event to Section 6. 

        (ii)    Other Termination.    If the Optionee's employment terminates for any reason other than death or disability,
and unless otherwise determined by the Committee, vesting hereunder shall cease on the date of such termination and this Stock Option may be exercised for a period of 90 days from the date of
termination or until the Expiration Date, if earlier; provided however, if the Optionee's employment is terminated for Cause, this Stock Option shall
terminate immediately upon the date of such termination. 

        For
purposes hereof, the Committee's determination of the reason for termination of the Optionee's employment shall be conclusive and binding on the Optionee and his or her
representatives or legatees or Permitted Transferees. 

        3.    Exercise of Stock Option.    

        (a)   The
Optionee may exercise this Stock Option only in the following manner: Prior to the Expiration Date (subject to Section 6), the Optionee may deliver a Stock
Option exercise notice (an "Exercise Notice") in the form of Appendix A hereto indicating his or her election to purchase some or all of the
Option Shares then subject to this Stock Option. Such notice shall specify the number of Option Shares to be purchased. Payment of the purchase price may be made by one or more of the methods
described below. Payment instruments will be received subject to collection. 

        (i)    in
cash, by certified or bank check, or other instrument acceptable to the Committee in U.S. funds payable to the order of the Company in an amount equal to the purchase
price of such Option Shares; 

        (ii)   by
the Optionee delivering to the Company a promissory note if the Board has expressly authorized the loan of funds to the Optionee for the purpose of enabling or
assisting the Optionee to effect the exercise of his or her Stock Option; provided that at least so much of the exercise price as represents the par value of the Stock shall be paid other than with a
promissory note if otherwise required by state law; or 

        (iii)  if
the Initial Public Offering has occurred, then (A) through the delivery (or attestation to ownership) of shares of Common Stock that have been purchased by
the Optionee on the open market or that have been held by the Optionee for at least six months and are not subject to restrictions under any plan of the Company and in any event with an aggregate Fair
Market Value (as of the date of such exercise) equal to the option purchase price, (B) 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 (C) a combination of (i), (ii), (iii)(A) and (iii)(B) above. 

        (b)   Certificates
for the Option Shares so purchased will be issued and delivered to the Optionee upon compliance to the satisfaction of the Committee with all requirements
under applicable laws or regulations in connection with such issuance. Until the Optionee shall have complied with the requirements hereof and of the Plan, the Company shall be under no obligation to
issue the Option Shares subject to this Stock Option, and 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 Common Stock subject to this Stock Option unless and until this Stock Option shall have been exercised pursuant
to the terms hereof, the Company shall have issued and delivered the Issued 

3

 

Shares
to the Optionee, and the Optionee's name shall have been entered as a stockholder of record on the books of the Company. Thereupon, the Optionee shall have full dividend and other ownership
rights with respect to such Issued Shares, subject to the terms of this Agreement. 

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

        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. 

        5.    Transferability of Stock Option.    This Agreement is personal to the Optionee and is not transferable by the
Optionee in any manner other than by will or by the laws of descent and distribution. The Stock Option may be exercised during the Optionee's lifetime only by the Optionee (or by the Optionee's
guardian or personal representative in the event of the Optionee's incapacity). The Optionee may elect to designate a beneficiary by providing written notice of the name of such beneficiary to the
Company, and may revoke or change such designation at any time by filing written notice of revocation or change with the Company; such beneficiary may exercise the Optionee's Stock Option in the event
of the Optionee's death to the extent provided herein. If the Optionee does not designate a beneficiary, or if the designated beneficiary predeceases the Optionee, the legal representative of the
Optionee may exercise this Stock Option to the extent provided herein in the event of the Optionee's death. 

        6.    Effect of Certain Transactions.    In the case of a Sale Event, this Stock Option shall terminate upon the
effective time of any such Sale Event unless provision is made in connection with such transaction in the sole discretion of the parties thereto for the continuation or assumption of this Stock Option
heretofore granted by the successor entity, or the substitution of this Stock Option with a new Stock Option of the successor entity or a parent or subsidiary thereof, with such adjustment as to the
number and kind of shares and the per share exercise prices as such parties shall agree. In the event of such termination, the Optionee shall be permitted, within a specified period of time prior to
the consummation of the Sale Event as determined by the Committee, to exercise all portions of the Stock Option which are then exercisable provided however, that the exercise of any portion of the
Stock Option not exercisable prior to the Sale Event shall be subject to the consummation of the Sale Event.

        7.    Withholding Taxes.    The Optionee shall, not later than the date as of which the exercise of this Stock Option
becomes a taxable event for federal income tax purposes, pay to the Company or make arrangements satisfactory to the Committee for payment of any federal, state and local taxes required by law to be
withheld on account of such taxable event. Subject to approval by the Committee, the Optionee may elect to have the minimum tax withholding obligation satisfied, in whole or in part, by authorizing
the Company to withhold from shares of Common Stock to be issued or transferring to the Company, a number of shares of Common Stock with an aggregate Fair Market Value that would satisfy the minimum
withholding amount due. The Optionee acknowledges and agrees that the Company or any Subsidiary of the Company has the right to deduct from payments of any kind otherwise due to the Optionee, or from
the Option Shares to be issued in respect of an exercise of this Stock Option, any federal, state or local taxes of any kind required by law to be withheld with respect to the issuance of Option
Shares to the Optionee. 

        8.    Restrictions on Transfer of Issued Shares.    None of the Issued Shares acquired upon exercise of the Stock
Option shall be sold, assigned, transferred, pledged, hypothecated, given away or in any other manner disposed of or encumbered, whether voluntarily or by operation of law, unless such transfer is in
compliance with all applicable securities laws (including, without limitation, the Securities Act of 1933, as amended, and the rules and regulations thereunder (the "Act")), and such disposition is in
accordance with the terms and conditions of this Section 8 and such disposition does not cause the Company to become subject to the reporting requirements of the Securities Exchange Act of
1934, as 

4

 

amended.
In connection with any transfer of Issued Shares, the Company may require the transferor to provide at the Optionee's own expense an opinion of counsel to the transferor, satisfactory to the
Company, that such transfer is in compliance with all foreign, federal and state securities laws (including, without limitation, the Act). Any attempted disposition of Issued Shares not in accordance
with the terms and conditions of this Section 8 shall be null and void, and the Company shall not reflect on its records any change in record ownership of any Issued Shares as a result of any
such disposition, shall otherwise refuse to recognize any such disposition and shall not in any way give effect to any such disposition of any Issued Shares. Subject to the foregoing general
provisions, Issued Shares may be transferred pursuant to the following specific terms and conditions: 

        (a)    Transfers to Permitted Transferees.    The Optionee may sell, assign, transfer or give away any or all of the
Issued Shares to Permitted Transferees; provided, however, that such Permitted Transferee(s) shall, as a condition to any such transfer, agree to be subject to the provisions of this Agreement to the
same extent as the Optionee (including, without limitation, the provisions of Sections 8, 10 and 11) and shall have delivered a written acknowledgment to that effect to the Company. 

        (b)    Transfers Upon Death.    Upon the death of the Optionee, any Issued Shares then held by the Optionee at the
time of such death and any Issued Shares acquired thereafter by the Optionee's legal representative pursuant to this Agreement shall be subject to the provisions of Sections 8, 9 and 11, if
applicable, and the Optionee's estate, executors, administrators, personal representatives, heirs, legatees and distributees shall be obligated to convey such Issued Shares to the Company or its
assigns under the terms contemplated hereby. 

        (c)    Company's Right of First Refusal.    In the event that the Optionee (or any Permitted Transferee holding Issued
Shares subject to this Section 8(c)) desires to sell or otherwise transfer all or any part of the Issued Shares the Optionee (or Permitted Transferee) first shall give written notice to the
Company of the Optionee's (or Permitted Transferee's) intention to make such transfer. Such notice shall state the number of Issued Shares which the Optionee (or Permitted Transferee) proposes to sell
(the "Offered Shares"), the price and the terms at which the proposed sale is to be made and the name and address of the proposed transferee. At any time within 10 days after the receipt of
such notice by the Company, the Company or its assigns may elect to purchase all or any portion of the Offered Shares at the price and on the terms offered by the proposed transferee and specified in
the notice. The Company or its assigns shall exercise this right by mailing or delivering written notice to the Optionee (or Permitted Transferee) within the foregoing 10-day period. If
the Company or its assigns elect to exercise its purchase rights under this Section 8(c), the closing for such purchase shall, in any event, take place within 45 days after the receipt
by the Company of the initial notice from the Optionee (or Permitted Transferee). In the event that the Company or its assigns do not elect to exercise such purchase right, or in the event that the
Company or its assigns do not pay the full purchase price within such 45-day period, the Optionee (or Permitted Transferee) may, within 60 days thereafter, sell the Offered Shares
to the proposed transferee and at the same price and on the same terms as specified in the Optionee's (or Permitted Transferee's) notice; provided, that after the expiration of such 60-day
period, any proposed transfer must comply with all of the provisions of this Section 8(c). Any Shares purchased by such proposed transferee shall no longer be subject to the terms of this
Agreement. Any Shares not sold to the proposed transferee shall remain subject to this Agreement. Notwithstanding the foregoing, the restrictions under this Section 8(c) shall terminate upon
the closing of the Company's Initial Public Offering or upon consummation of any Sale Event, in either case as a result of which shares of the Company (or successor entity) of the same class as the
Issued Shares are registered under Section 12 of the Exchange Act and publicly traded on NASDAQ/NMS or any national securities exchange. 

5

 

        9.    Escrow Arrangement.    

        (a)    Escrow.    In order to carry out the provisions of Sections 8 and 10 of this Agreement more effectively, the
Company shall hold any Issued Shares in escrow together with separate stock powers executed by the Optionee in blank for transfer, and any Permitted Transferee shall, as an additional condition to any
transfer of Issued Shares, execute a like stock power as to such Issued Shares. The Company shall not dispose of the Issued Shares except as otherwise provided in this Agreement. In the event of any
repurchase by the Company (or any of its assigns), the Company is hereby authorized by the Optionee
and any Permitted Transferee, as the Optionee's and each such Permitted Transferee's attorney-in-fact, to date and complete the stock powers necessary for the transfer of the
Issued Shares being purchased and to transfer such Issued Shares in accordance with the terms hereof. At such time as any Issued Shares are no longer subject to the Company's repurchase, first refusal
and drag along rights, the Company shall, at the written request of the Optionee, deliver to the Optionee (or the relevant Permitted Transferee) a certificate representing such Issued Shares with the
balance of the Issued Shares to be held in escrow pursuant to this Section 9. 

        (b)    Remedy.    Without limitation of any other provision of this Agreement or other rights, in the event that the
Optionee, any Permitted Transferees or any other person or entity is required to sell the Optionee's Issued Shares pursuant to the provisions of Sections 8 and 9 of this Agreement and in the further
event that he or she refuses or for any reason fails to deliver to the Company or its designated purchaser of such Issued Shares the certificate or certificates evidencing such Issued Shares together
with a related stock power, the Company or such designated purchaser may deposit the applicable purchase price for such Issued Shares with a bank designated by the Company, or with the Company's
independent public accounting firm, as agent or trustee, or in escrow, for the Optionee, any Permitted Transferees or other person or entity, to be held by such bank or accounting firm for the benefit
of and for delivery to him, her, them or it, and/or, in its discretion, pay such purchase price by offsetting any indebtedness then owed by the Optionee as provided above. Upon any such deposit and/or
offset by the Company or its designated purchaser of such amount and upon notice to the person or entity who was required to sell the Issued Shares to be sold pursuant to the provisions of Sections 8
and 10, such Issued Shares shall at such time be deemed to have been sold, assigned, transferred and conveyed to such purchaser, the holder thereof shall have no further rights thereto (other than the
right to withdraw the payment thereof held in escrow, if applicable), and the Company shall record such transfer in its stock transfer book or in any appropriate manner. 

        10.    Drag Along Right.    In the event the holders of a majority of the Company's equity securities then outstanding
(the "Majority Shareholders") determine to sell or otherwise dispose of all or substantially all of the assets of the Company or all or fifty percent (50%) or more of the capital stock of the Company
in each case in a transaction constituting a change in control of the Company, to any non-Affiliate(s) of the Company or any of the Majority Shareholders, or to cause the Company to merge
with or into or consolidate with any non-Affiliate(s) of the Company or any of the Majority Shareholders (in each case, the "Buyer") in a bona
fide negotiated transaction (a "Sale"), the Optionee, including any Permitted Transferees, shall be obligated to and shall upon the written request of the Majority Shareholders
(subject to Section 6): (a) sell, transfer and deliver, or cause to be sold, transferred and delivered, to the Buyer, his or her Issued Shares (including for this purpose all of such
Optionee's or his or her Permitted Transferee's Issued Shares that presently or as a result of any such transaction may be acquired upon the exercise of options (following the payment of the exercise
price therefor)) on substantially the same terms applicable to the Majority Shareholders (with appropriate adjustments to reflect the conversion of convertible securities, the redemption of redeemable
securities and the exercise of exercisable securities as well as the relative preferences and priorities of preferred stock); and (b) execute and deliver such instruments of conveyance and
transfer and take such other 

6

 

actions,
including voting such Issued Shares in favor of any Sale proposed by the Majority Shareholders and executing any purchase agreements, merger agreements, indemnity agreements, escrow
agreements or related documents, as the Majority Shareholders or the Buyer may reasonably require in order to carry out the terms and provisions of this Section 10. The obligations under this
Section 10 shall terminate upon the Closing of the Company's Initial Public Offering or upon consummation of any Sale Event, in either case as a result of which shares of the Company (or
successor entity) of the same class as the Issued Shares are registered under Section 12 of the Exchange Act and publicly traded on NASDAQ/NMS or any national securities exchange. 

        11.    Lockup Provision.    The Optionee agrees, if requested by the Company and any underwriter engaged by the
Company, not to sell or otherwise transfer or dispose of any Issued Shares (including, without limitation pursuant to Rule 144 under the Act) held by him or her for such period following the
effective date of any registration statement of the Company filed under the Act as the Company or such underwriter shall specify reasonably and in good faith, not to exceed 180 days in the case
of the Company's Initial Public Offering or 90 days in the case of any other public offering. The Optionee will enter into the underwriter's form of lockup agreement if requested. 

        12.    Miscellaneous Provisions.    

        (a)    Equitable Relief.    The parties hereto agree and declare that legal remedies may be inadequate to enforce the
provisions of this Agreement and that equitable relief, including specific performance and injunctive relief, may be used to enforce the provisions of this Agreement. 

        (b)    Adjustments for Changes in Capital Structure.    If, as a result of any reorganization, recapitalization,
reclassification, stock dividend, stock split, reverse stock split or other similar change in the Common Stock, the outstanding shares of Common Stock are increased or decreased or are exchanged for a
different number or kind of shares of the Company's stock, the provisions of this Agreement shall apply with equal force to additional and/or substitute securities, if any, received by the Optionee in
exchange for, or by virtue of his or her ownership of, Issued Shares. 

        (c)    Change and Modifications.    This Agreement may not be orally changed, modified or terminated, nor shall any
oral waiver of any of its terms be effective. This Agreement may be changed, modified or terminated only by an agreement in writing signed by the Company and the Optionee. 

        (d)    Governing Law.    This Agreement shall be governed by and construed in accordance with the laws of Delaware
without regard to conflict of law principles. 

        (e)    Headings.    The headings are intended only for convenience in finding the subject matter and do not constitute
part of the text of this Agreement and shall not be considered in the interpretation of this Agreement. 

        (f)    Saving Clause.    If any provision(s) of this Agreement shall be determined to be illegal or unenforceable,
such determination shall in no manner affect the legality or enforceability of any other provision hereof. 

        (g)    Notices.    All notices, requests, consents and other communications shall be in writing and be deemed given
when delivered personally, by telex or facsimile transmission or when received if mailed by first class registered or certified mail, postage prepaid. Notices to the Company or the Optionee shall be
addressed as set forth underneath their signatures below, or to such other address or addresses as may have been furnished by such party in writing to the other. 

        (h)    Benefit and Binding Effect.    This Agreement shall be binding upon and shall inure to the benefit of the
parties hereto, their respective successors, permitted assigns, and legal 

7

 

representatives.
The Company has the right to assign this Agreement, and such assignee shall become entitled to all the rights of the Company hereunder to the extent of such assignment. 

        (i)    Dispute Resolution.    Except as provided below, any dispute arising out of or relating to this Agreement or
the breach, termination or validity hereof shall be finally settled by binding arbitration conducted
expeditiously in accordance with the J.A.M.S./Endispute Comprehensive Arbitration Rules and Procedures (the "J.A.M.S. Rules"). The arbitration shall be governed by the United States Arbitration Act, 9
U.S.C. §§1-16, and judgment upon the award rendered by the arbitrators may be entered by any court having jurisdiction thereof. The place of arbitration shall be
Boston, Massachusetts. 

        The
parties covenant and agree that the arbitration shall commence within 60 days of the date on which a written demand for arbitration is filed by any party hereto. In connection
with the arbitration proceeding, the arbitrator shall have the power to order the production of documents by each party and any third-party witnesses. In addition, each party may take up to three
(3) depositions as of right, and the arbitrator may in his or her discretion allow additional depositions upon good cause shown by the moving party. However, the arbitrator shall not have the
power to order the answering of interrogatories or the response to requests for admission. In connection with any arbitration, each party shall provide to the other, no later than seven
(7) business days before the date of the arbitration, the identity of all persons that may testify at the arbitration and a copy of all documents that may be introduced at the arbitration or
considered or used by a party's witness or expert. The arbitrator's decision and award shall be made and delivered within six (6) months of the selection of the arbitrator. The arbitrator's
decision shall set forth a reasoned basis for any award of damages or finding of liability. The arbitrator shall not have power to award damages in excess of actual compensatory damages and shall not
multiply actual damages or award punitive damages or any other damages that are specifically excluded under this Agreement, and each party hereby irrevocably waives any claim to such damages. 

        The
parties covenant and agree that they will participate in the arbitration in good faith. This Section 12(i) applies equally to requests for temporary, preliminary or
permanent injunctive relief, except that in the case of temporary or preliminary injunctive relief any party may proceed in court without prior arbitration for the limited purpose of avoiding
immediate and irreparable harm. 

        Each
of the parties hereto (i) hereby irrevocably submits to the jurisdiction of any United States District Court of competent jurisdiction for the purpose of enforcing the award
or decision in any such proceeding, (ii) hereby waives, and agrees not to assert, by way of motion, as a defense, or otherwise, in any such suit, action or proceeding, any claim that it is not
subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment or execution (except as protected by applicable law), that the suit, action or
proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper or that this Agreement or the subject matter hereof may not be enforced in or by such
court, and hereby waives and agrees not to seek any review by any court of any other jurisdiction which may be called upon to grant an enforcement of the judgment of any such court. Each of the
parties hereto hereby consents to service of process by registered mail at the address to which notices are to be given. Each of the parties hereto agrees that its, his or her submission to
jurisdiction and its, his or her consent to service of process by mail is made for the express benefit of the other parties hereto. Final judgment against any party hereto in any such action, suit or
proceeding may be enforced in other jurisdictions by suit, action or proceeding on the judgment, or in any other manner provided by or pursuant to the laws of such other jurisdiction. 

8

 

        (j)    Counterparts.    For the convenience of the parties and to facilitate execution, this Agreement may be executed
in two or more counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same document. 

 
 

[SIGNATURE PAGE FOLLOWS]    

9

        The foregoing Agreement is hereby accepted and the terms and conditions thereof hereby agreed to by the undersigned as of the date first above written. 

	 	 	BLADELOGIC, INC.
	

 	
 	

By:	

 Name:

Title:
	

 	
 	

Address: 10 Maguire Road, Building 3

                Lexington MA 02421

        The
foregoing Agreement is hereby accepted and the terms and conditions thereof hereby agreed to by the undersigned as of the date first above written. 

	 	 	OPTIONEE:
	

 	
 	

 Name:

Address:

	SPOUSE'S CONSENT	 	 	 
	I acknowledge that I have read the foregoing Incentive Stock Option Agreement and understand the contents thereof.	 	 	 
	

	
 	

 	

 

	

 	
 	

DESIGNATED BENEFICIARY:
	

 	
 	

	

 	
 	

Beneficiary's Address:
	

 	
 	

	

 	
 	

	

 	
 	

 
 
 

Appendix A    
    
  
    STOCK OPTION EXERCISE NOTICE    
    

BladeLogic, Inc.

Attention: Controller

10 Maguire Road, Building 3

Lexington, Massachusetts 02421 

        Pursuant
to the terms of my stock option agreement dated                        (the "Agreement") under the Third Amended and Restated
BladeLogic, Inc. 2001 Stock Option and Grant Plan,
I, [Insert Name]            , hereby [Circle One] partially/fully exercise such option by including herein payment in the amount of
$            
representing the purchase price for [Fill in number of Option Shares]            option shares. I have chosen the following form(s) of payment: 

	o	 	1.	 	Cash
	o	 	2.	 	Certified or bank check payable to BladeLogic, Inc.
	o	 	3.	 	Other (as described in the Agreement (please describe))

        In
connection with my exercise of the option as set forth above, I hereby represent and warrant to BladeLogic, Inc. as follows: 

        (i)    I
am purchasing the option shares for my own account for investment only, and not for resale or with a view to the distribution thereof. 

        (ii)   I
have had such an opportunity as I have deemed adequate to obtain from BladeLogic, Inc. such information as is necessary to permit me to evaluate the merits and
risks of my investment in BladeLogic, Inc. and have consulted with my own advisers with respect to my investment in BladeLogic, Inc. 

        (iii)  I
have sufficient experience in business, financial and investment matters to be able to evaluate the risks involved in the purchase of the option shares and to make
an informed investment decision with respect to such purchase. 

        (iv)  I
can afford a complete loss of the value of the option shares and am able to bear the economic risk of holding such option shares for an indefinite period of time. 

        (v)   I
understand that the option shares may not be registered under the Securities Act of 1933 (it being understood that the option shares are being issued and sold in
reliance on the exemption provided in Rule 701 thereunder) or any applicable state securities or "blue sky" laws and may not be sold or otherwise transferred or disposed of in the absence of an
effective registration statement under the Securities Act of 1933 and under any applicable state securities or 

2

 

"blue
sky" laws (or exemptions from the registration requirement thereof). I further acknowledge that certificates representing option shares will bear restrictive legends reflecting the foregoing. 

	

 	

Sincerely yours,
	

 	

 Name:
	

 	

Address:
	

 	

	

 	

	

 	

3

QuickLinks

Non-Qualified Stock Option Agreement under the Third Amended and Restated BladeLogic, Inc. 2001 Stock Option and Grant Plan

[SIGNATURE PAGE FOLLOWS]

Appendix A STOCK OPTION EXERCISE NOTICE

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