Document:

exv10w3

Exhibit 10.3

SciQuest Holdings, Inc.

2004 Stock Incentive Plan

Stock Option Agreement

SciQuest Holdings, Inc., a Delaware corporation (the “Company”), hereby grants
to the optionee named below (“Optionee”) an option (this “Option”) to purchase the
total number of shares shown below of Common Stock of the Company (“Shares”) at the
exercise price per share set forth below (the “Exercise Price”), subject to all of
the terms and conditions on the reverse side of this Stock Option Agreement and the
SciQuest Holdings, Inc. 2004 Stock Incentive Plan (the “Plan”). Unless otherwise
defined herein, capitalized terms used herein shall have the meanings ascribed to
them in the Plan. The terms and conditions set forth on the reverse side hereof and
the terms and conditions of the Plan are incorporated herein by reference.

	 	 	 	 	 
	Shares Subject to Option:

	 	 
	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	Exercise Price Per Share:

	 	 
	 	 
	 

	 	 	 	 

Term of Option: TEN (10) YEARS

Vesting:

Shares subject to issuance under this Option shall be eligible for exercise according
to the vesting schedule described in Section 10 on the reverse of this Stock Option
Agreement.

IN WITNESS WHEREOF, this Stock Option Agreement has been executed by the Company by a duly
authorized officer as of the date specified hereon.

	 	 	 	 	 
	SciQuest Holdings, Inc.

 	 	 
	By:  	 	 	 
	 	 	 

	 	 	 	 	 
	Grant Date:

	 	 
	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	Vesting Start Date:

	 	 
	 	 
	 

	 	 	 	 

Type of Stock Option Intended:

o     Incentive Stock Option (ISO)

o     Non-Qualified Stock Option (NQSO)

Optionee hereby acknowledges receipt of a copy of the Plan, represents that Optionee has
read and understands the terms and provisions of the Plan, and accepts this Option subject
to all the terms and conditions of the Plan and this Stock Option Agreement. Optionee
acknowledges that there may be adverse tax consequences upon exercise of this Option or
disposition of Shares purchased by exercise of this Option, and that Optionee should
consult a tax adviser prior to such exercise or disposition.

	 	 	 	 	 
	 	 	 
	[Name of Optionee] 	 	 

 

 

1. Exercise Period of Option. Subject to the terms and conditions of this Stock
Option Agreement and the Plan, and unless otherwise modified in writing signed by the Company and
Optionee, this Option may be exercised with respect to all of the Shares subject to this Option,
but only according to the vesting schedule described in Section 10 below, prior to the date which
is the last day of the Term set forth on the face hereof following the Grant Date (hereinafter
“Expiration Date”).

2. Restrictions on Exercise. This Option may not be exercised, unless such exercise is in
compliance with the Securities Act of 1933 and all applicable state securities laws, as they are in
effect on the date of exercise, and the requirements of any stock exchange or national market
system on which the Company’s Shares may be listed at the time of exercise. Optionee understands
that the Company is under no obligation to register, qualify or list the Shares subject to this
Option with the Securities and Exchange Commission (“SEC”), any state securities commission or any
stock exchange to effect such compliance. [Also, this Option may not be exercised within the first
six (6) months of the Grant Date noted hereon (except in situations otherwise allowed by this
Option and Section 7(e)(8)(B) of the FLSA) if the Optionee is currently, at the time of exercise,
or has been at any time within the two (2) year period immediately preceding exercise, a non-exempt
(as defined in the Fair Labor Standards Act) employee of the Company.]

3. Termination of Option. Except as provided below in this Section, this Option shall be
immediately forfeited and may not be exercised after the date which is ninety (90) days after
Optionee ceases to perform services for the Company, or any Parent or Subsidiary. Optionee shall
be considered to perform services for the Company, or any Parent or Subsidiary, for all purposes
under this Section and Section 10 hereof, if Optionee is an officer or full-time employee of the
Company, or any Parent or Subsidiary, or if the Board determines that Optionee is rendering
substantial services as a part-time employee, consultant, contractor or advisor to the Company, or
any Parent or Subsidiary. The Board shall have discretion to determine whether Optionee has ceased
to perform services for the Company, or any Parent or Subsidiary, and may determine that a material
reduction or decrease in responsibilities is a cessation of the performance of services. The
effective date on which services are determined by the Board to have ceased is the “Termination
Date”.

     (a) Termination for Cause. If Optionee ceases to perform services for the Company, or any
Parent or Subsidiary, for Cause, this Option shall immediately be forfeited, along with any and all
rights or subsequent rights attached thereto, as of the Termination Date, but in no event later
than the Expiration Date. For this purpose, “Cause” shall be defined as set forth in the written
employment agreement between the Optionee and the Company, or, if no such written agreement exists
or if “Cause” is not defined in such written employment agreement, “Cause” shall be defined as set
forth in the Plan, or, if not defined in the Plan, “Cause” shall mean actions or omissions harmful
to the Company as determined by the Board in its sole and absolute discretion.

     (b) Death. If Optionee ceases to perform services for the Company, or any Parent or
Subsidiary, as a result of the death of Optionee, this Option, to the extent (and only to the
extent) that it would have been exercisable by Optionee on the Termination Date, may be exercised
by Optionee’s legal representative within one (1) year after the Termination Date, but in no event
later than the Expiration Date.

     (c) Disability. If Optionee ceases to perform services for the Company, or any Parent or
Subsidiary, as a result of the disability (within the meaning of Code §22(e)(3)) of Optionee (as
determined by the Board in its sole discretion), this Option, to the extent (and only to the
extent) that it would have been exercisable by Optionee on the Termination Date, may be exercised
by Optionee within one (1) year after the Termination Date, but in no event later than the
Expiration Date.

     (d) No Right to Employment or Other Relationship. Nothing in the Plan or this Stock Option
Agreement shall confer on Optionee any right to continue in the employ of, or other relationship
with, the Company, or any Parent or Subsidiary, or limit in any way the right of the Company, or
any Parent or Subsidiary, to terminate Optionee’s employment or other relationship at any time,
with or without cause.

4. Manner of Exercise.

     (a) Exercise Agreement. This Option shall be exercisable by delivery to the Company of an
executed Exercise and Stockholder Agreement (“Exercise Agreement”) in such form as may be approved
or accepted by the Company, which shall set forth Optionee’s election to exercise this Option with
respect to some or all of the Shares subject to this Option, the number of Shares subject to this
Option being purchased, and any restrictions imposed on the Shares subject to this Option
(including, without limitation, vesting or performance-based restrictions, rights of the Company to
re-purchase Shares acquired pursuant to the exercise of an Option, voting restrictions, investment
intent restrictions, restrictions on transfer, “first refusal” rights of the Company to purchase
Shares acquired pursuant to the exercise of an Option prior to their sale to any other person,
“drag along” rights requiring the sale of shares to a third party purchaser in certain
circumstances, “lock up” type restrictions in the case of an initial public offering of the
Company’s stock, restrictions or limitations that would be applied to stockholders under any
applicable restriction agreement among the stockholders, and restrictions under applicable federal
securities laws, under the requirements of any stock exchange or market upon which such Shares are
then listed and/or traded, and/or under any blue sky or state securities laws applicable to such
Shares). The Company may modify the required Exercise Agreement at any time for any reason
consistent with the Plan.

     (b) Exercise Price. Such Exercise Agreement shall be accompanied by full payment of the
Exercise Price for the Shares being purchased. Payment for the Shares being purchased may be made
in U.S. dollars in cash (by check), or by delivery to the Company of a number of Shares which have
been owned and completely paid for by the holder for at least six (6) months prior to the date of
exercise (i.e., “mature shares” for accounting purposes) having an aggregate fair market value
equal to the amount to be tendered, or a combination thereof. In addition, this Option may be
exercised through a brokerage transaction following registration of the Shares under Section 12 of
the Securities Exchange Act of 1934 as permitted under the provisions of Regulation T promulgated
by the Federal Reserve Board applicable to cashless exercises.

     (c) Withholding Taxes. Prior to the issuance of Shares upon exercise of this Option, Optionee
must pay, or make adequate provision for, any applicable federal or state withholding obligations
of the Company. Optionee may provide for payment of withholding taxes upon exercise of the Option
by requesting that the Company retain Shares with a Fair Market Value equal to the minimum amount
of taxes required to be withheld. In such case, the Company shall issue the net number of Shares
to Optionee by deducting the Shares retained from the Shares exercised.

     (d) Issuance of Shares. Provided that such Exercise Agreement and payment are in form and
substance satisfactory to counsel for the Company, the Company shall cause the Shares purchased to
be issued in the name of Optionee or Optionee’s legal representative. Optionee shall not be
considered a Stockholder until such time as Shares have been issued as noted on the books of the
Company.

5. Notice of Disqualifying Disposition of ISO Shares. If this Option is an ISO, and if Optionee
sells or otherwise disposes of any of the Shares acquired pursuant to this ISO on or before the
later of (a) the date two (2) years after the Grant Date, or (b) the date one (1) year after
exercise of the ISO, with respect to the Shares to be sold or disposed, Optionee shall and hereby
agrees to immediately notify the Company in writing of such sale or disposition. Optionee
acknowledges and agrees that Optionee may be subject to income tax withholding by the Company on
the compensation income recognized by Optionee from any such early disposition by payment in cash
or out of the current wages or earnings payable to Optionee, and Optionee agrees to remit same to
Company upon request. Optionee also hereby agrees that Optionee shall include the compensation
from such early disposition in the Optionee’s gross income for federal tax purposes.

6. Nontransferability of Option. This Option may not be transferred in any manner, other than by
will or by the laws of descent and distribution, and may be exercised during Optionee’s lifetime
only by Optionee. The terms of this Option shall be binding upon the executor, administrators,
successors and assigns of Optionee. However, if this Option is a NQSO, it may be transferred to
the extent allowed by the Plan.

7. Tax Consequences. Optionee understands that the grant and exercise of this Option, and the
sale of Shares obtained through the exercise of this Option, may have tax implications that could
result in adverse tax consequences to Optionee. Optionee represents that Optionee has consulted
with, or will consult with, his or her tax advisor; Optionee further acknowledges that Optionee is
not relying on the Company for any tax, financial or legal advice; and it is specifically
understood by the Optionee that no representations or assurances are made as to the qualification
of this Option as an ISO or as to any particular tax treatment with respect to the Option.
Optionee also acknowledges that exercise of an ISO option must generally occur within ninety
(90) days of termination of employment, regardless of any longer period allowed by this Stock
Option Agreement.

8. Interpretation. Any dispute regarding the interpretation of this Stock Option Agreement shall
be submitted to the Board or the Committee, which shall review such dispute in accordance with the
Plan. The resolution of such a dispute by the Board or Committee shall be final and binding on the
Company and Optionee.

9. Entire Agreement and Other Matters. The Plan and the Exercise Agreement are incorporated herein
by this reference. Optionee acknowledges and agrees that the granting of this Option constitutes a
full accord, satisfaction and release of all obligations or commitments made to Optionee by the
Company or any of its officers, directors, stockholders or affiliates with respect to the issuance
of any securities, or rights to acquire securities, of the Company or any of its affiliates. This
Stock Option Agreement, the Plan and the Exercise Agreement constitute the entire agreement of the
parties hereto, and supersede all prior understandings and agreements with respect to the subject
matter hereof. This Stock Option Agreement and the underlying Option are void ab initio unless
this Certificate has been executed by the Optionee and the Optionee has agreed to all terms and
provisions hereof.

10. Vesting and Exercise of Shares. Subject to the terms of the Plan, this Stock Option Grant
Certificate and the Exercise Agreement, the Optionee shall be entitled to purchase, pursuant to the
exercise of this Option, the percentage of the Shares subject to this Option shown below based upon
the Continuous Service of the Optionee from the Vesting Start Date of this Option (as noted on the
first page hereon) at the time of exercise:

	 	 	 
	Vesting Schedule:
	Percentage Vested:	 	Continuous Service:
	0%
	 	Less than 12 months
	 
	(25+((X-12)*2.083)) %
 where X is the
number of whole months of Continuous
Service from the Vesting Start Date
	 	At least 12 months, but not 48 months
	 
	100%
	 	48 or more months

If the above calculation of Shares available for purchase through exercise of this Option would
result in a fraction, any fraction will be rounded to zero. For purposes of this Stock Option
Grant Certificate, “Continuous Service” means a period of continuous performance of services by
Optionee for the Company, a Parent, or a Subsidiary, as determined by the Board in its sole and
absolute discretion.exv10w4

Exhibit 10.4

SCIQUEST, INC.

MANAGEMENT SUBSCRIPTION AGREEMENT

SciQuest, Inc.

5151 McCrimmon Parkway, Suite 216

Morrisville, NC 27560

Ladies and Gentlemen:

     1. Subscription for Shares.                                          (the “Subscriber”) hereby tenders this
Management Subscription Agreement (this “Agreement”) and irrevocably subscribes for and agrees to
purchase                      shares of Common Stock, $0.001 par value per share (the “Shares”), of SciQuest,
Inc., a Delaware corporation (the “Company”), and commits to pay therefor an aggregate purchase
price of $                     for the Shares (the “Purchase Price”) by (i) check, (ii) bank wire transfer of
immediately available funds to an account designated in writing by the Company or (iii) subject to
the approval of the Company, a promissory note in form and substance acceptable to the Company. In
the event that the Subscriber does not pay the Purchase Price in full prior to                     , 20___,
the Company may terminate this Agreement at anytime. The Shares are being issued pursuant to the
Company’s 2004 Stock Incentive Plan (the “Plan”), and shall be subject to the terms and conditions
contained in this Agreement and the Plan, including without limitation the right of repurchase as
set forth in this Agreement.

     2. Repurchase Option.

          (a) Termination Other than for Cause by the Company. In the event that the Subscriber’s
continuous status as an employee of the Company terminates for any reason (other than a termination
by the Company for Cause), the Company shall, upon the date of such termination, have the
irrevocable, exclusive option to repurchase (the “Repurchase Option”) any Shares which have not yet
been released from the Repurchase Option (the “Unvested Shares”) at a price per share equal to the
Purchase Price (the “Repurchase Price”) plus simple interest from the date that the Shares are
issued to the Subscriber at a rate equal to 6% per annum, computed on the basis of the actual
number of days elapsed and a 365-day year (the “Interest”). Furthermore, in the event that such
termination is the result of the Subscriber’s resignation as an employee of the Company, the
Repurchase Option of the Company shall include the irrevocable, exclusive option to repurchase any
Vested Shares at fair market value as determined by the Board of Directors of the Company (the
“Board”) in its reasonable discretion, plus Interest. For purposes of clarity, the term “Shares”
shall include both Unvested Shares and Vested Shares.

          (b) Termination for Cause by the Company. In the event that the Subscriber’s continuous
status as an employee of the Company terminates with Cause, the Company shall, upon the date of
such termination, have a Repurchase Option to repurchase all of the Shares at the Repurchase Price,
regardless of whether such Shares are Unvested Shares or Vested Shares, and any Unvested Shares
shall be cancelled as of the date of such termination.

          (c) Definitions. As used in this Agreement, “Cause” shall be defined as set forth in the
written employment agreement between the Optionee and the Company, or, if no

 

 

such written agreement exists or if “Cause” is not defined in such written employment
agreement, “Cause” shall be defined as set forth in the Plan, or, if not defined in the Plan,
“Cause shall mean actions or omissions harmful to the Company as determined by the Board in its
sole and absolute discretion.

          (d) Except as limited by applicable law, the Company may exercise its Repurchase Option as to
any or all of the Shares at any time following the Subscriber’s termination; provided, however,
that without requirement of further action on the part of either party hereto, the Repurchase
Option shall be deemed to have been automatically exercised as to all of the Shares on the date
that is 90 days following the date of the Subscriber’s termination, unless the Company declines to
exercise its Repurchase Option prior to such time. Notwithstanding the foregoing, the Repurchase
Option shall not be deemed to have been automatically exercised, and shall instead be deemed to be
terminated as of such time and date, in any case where such automatic exercise would result in a
violation of applicable law by reason of the Company having insufficient funds or assets to meet
its obligations or otherwise, including, without limitation, a violation of any provision of
Section 160 of the General Corporation Law of the State of Delaware.

          (e) If the Company decides not to exercise its Repurchase Option, it shall notify the
Subscriber within 90 days of the Subscriber’s termination. If the Company decides to exercise its
Repurchase Option, the Company shall deliver payment to the Subscriber within 120 days from the
Subscriber’s termination, with a copy to the Escrow Agent (as defined below). The Company may pay
the Repurchase Price by any of the following methods: (i) delivering to the Subscriber a check or
bank wire transfer in the amount of the aggregate Repurchase Price plus Interest, if applicable,
(ii) canceling an amount of the Subscriber’s indebtedness to the Company, if any, equal to the
aggregate Repurchase Price plus Interest, if applicable, or (iii) any combination of (i) and (ii)
such that the combined payment and cancellation of indebtedness equals the Repurchase Price plus
Interest, if applicable. Upon payment of the Repurchase Price in any of the ways described above,
the Company shall become the legal and beneficial owner of the Shares being repurchased and all
related rights and interests therein, and the Company shall have the right to retain and transfer
to its own name the number of Shares being repurchased by the Company.

          (f) In the event that the Repurchase Option is exercised by the Company, whether by payment or
automatically in the manner provided for above, then upon and following such exercise, the only
remaining right of the Subscriber under this Agreement shall be the right to receive the Repurchase
Price, and the Subscriber shall have no right whatsoever to receive, vote or claim any ownership or
interest in the Shares. In the event that the Subscriber’s continuous status as an employee of the
Company terminates, and the Company neither notifies the Subscriber within 90 days thereafter of
the Company’s decision not to exercise its Repurchase Option, nor delivers payment of the
Repurchase Price to the Subscriber within 120 days thereafter, then the sole and exclusive remedy
of the Subscriber thereafter shall be to receive the Repurchase Price from the Company in the
manner set forth above, and in no case shall the Subscriber have any claim of ownership or interest
as to any of the Shares. In the event that the Repurchase Option is terminated, whether by notice
from the Company to the Subscriber within 90 days following the termination of the Subscriber’s
employment or by reason of the automatic termination to avoid a violation of applicable law
described above, then upon and

2

 

following such termination, the only remaining right of the Subscriber under this Agreement
shall be the right to receive the Shares, and the Subscriber shall have no right whatsoever to
receive the Repurchase Price.

     3. Release of Shares From Repurchase Option; Vesting. 25% of the total number of
Shares shall be released from the Repurchase Option immediately upon the date that the Shares are
issued as evidenced in the Company’s records, and as to the remainder of the Shares,
1/36th of the total number of Shares shall be released from the Repurchase Option on the
last day of each calendar month, beginning with the date hereof, for each full calendar month
elapsing after the date hereof, during which the Subscriber was an employee of the Company. The
monthly release of the Shares from the Repurchase Option shall continue until all of the Shares
have been released at the end of the 36th month. The foregoing notwithstanding, the periodic
release of the Shares from the Repurchase Option shall be accelerated upon a Change of Control (as
defined in the Plan) in accordance with Section 11.5 of the Plan.

     4. Escrow.

          (a) As security for the faithful performance of this Agreement, the Subscriber agrees,
immediately upon receipt of the certificate(s) evidencing the Shares, to deliver such
certificate(s), together with a stock power in the form of Exhibit A attached to this
Agreement, executed by the Subscriber and by the Subscriber’s spouse, if any (with the date and
number of Shares left blank), to the Secretary of the Company or its designee (the “Escrow Agent”).
These documents shall be held by the Escrow Agent pursuant to the Joint Escrow Instructions of the
Company and the Subscriber set forth in Exhibit B attached to this Agreement, which
instructions are incorporated into this Agreement by this reference, and which instructions shall
also be delivered to the Escrow Agent.

          (b) Subject to the terms hereof, the Subscriber shall have all the rights of a stockholder
with respect to such Shares while they are held in escrow, including without limitation, the right
to vote the Shares. If, from time to time during the term of the Repurchase Option, there is (i)
any stock dividend, stock split or other change in the Shares, (ii) any dividend of cash or other
property on the Shares, or (iii) any merger or sale of all or substantially all of the assets or
other acquisition of the Company, any and all new, substituted or additional securities or cash or
other consideration to which the Subscriber is entitled by reason of the Subscriber’s ownership of
the Shares shall immediately become subject to this escrow, deposited with the Escrow Agent and
included thereafter as the “Shares” for purposes of this Agreement and the Repurchase Option.

     5. Tax Consequences. The Subscriber has reviewed or shall review with the
Subscriber’s own tax advisors the federal, state, local and foreign tax consequences of this
investment and the transactions contemplated by this Agreement. The Subscriber is relying solely
on such advisors and not on any statements or representations of the Company or any of its agents.
The Subscriber understands that the Subscriber (and not the Company or any of its affiliates or
agents) shall be responsible for any tax liability that may arise as a result of the transactions
contemplated by this Agreement.

3

 

     6. Representations and Warranties. The following representations, warranties and
undertakings are hereby made and/or agreed to by the Subscriber.

          (a) The Subscriber has such knowledge and experience in financial and business matters that
the Subscriber is capable of protecting the Subscriber’s own interests in connection with the
purchase of the Shares and evaluating the merits and risks of the Subscriber’s investment in the
Company.

          (b) The Subscriber and the Subscriber’s advisors have such knowledge and experience in
financial, tax and business matters so as to enable the Subscriber to utilize the information made
available to the Subscriber in connection with the investment contemplated hereby to evaluate the
merits and risks of an investment in the Company and to make an informed investment decision with
respect thereto. The Subscriber is familiar with the type of investment that the Shares constitute
and recognizes that an investment in the Company involves substantial risks, including risk of loss
of the entire amount of such investment.

          (c) The Subscriber is aware that there are limitations and restrictions on the circumstances
under which the Subscriber may offer to sell, transfer or otherwise dispose of the Shares. Such
limitations and restrictions include those set forth in this Agreement, the Stockholders Agreement,
dated as of July 28, 2004, by and among SciQuest Holdings, Inc., SciQuest, Inc., Trinity Ventures
VII, L.P., Trinity VII Side-By-Side Fund, L.P., Trinity Ventures VIII, L.P., Trinity VIII
Side-By-Side Fund, L.P. and Trinity VIII Entrepreneurs’ Fund, L.P. (collectively, “Trinity”) and
the other parties thereto, as amended from time to time in accordance with its terms, and those
imposed by operation of applicable securities laws and regulations. The Subscriber acknowledges
that as a result of such limitations and restrictions, it might not be possible to liquidate this
investment readily and that it may be necessary to hold the investment for an indefinite period.

          (d) In evaluating the suitability of an investment in the Company, the Subscriber has not
relied upon any oral or written representations or other information from the Company, Trinity or
any agent, representative or advisor of the Company or Trinity except as set forth herein. The
Subscriber and the Subscriber’s advisors have had a reasonable opportunity to ask questions of and
receive answers from a person or persons acting on behalf of the Company concerning such
investment.

          (e) No person, including, without limitation, the Company, Trinity or any of their managers,
officers, employees, agents, representatives or advisors has warranted to the Subscriber, either
expressly or by implication, the percentage of profits and/or amount of or type of consideration,
profit or loss (including tax write-offs and/or tax benefits) to be realized, if any, as a result
of the Subscriber’s investment in the Company.

          (f) The Subscriber is effecting the purchase of the Shares contemplated hereby for the
Subscriber’s own account, for investment and not with a view to resale or distribution except in
compliance with the Securities Act. The Subscriber agrees not to sell or otherwise transfer the
Shares without registration under the Securities Act or applicable state securities laws or an
exemption therefrom. The Subscriber acknowledges that the Shares have not been and will not be
registered under the Securities Act or the securities laws of any state.

4

 

          (g) The Subscriber has been provided to the Subscriber’s satisfaction with the opportunity to
ask questions concerning the terms and conditions of the offering of the Shares, has had all such
questions answered to the Subscriber’s satisfaction, and has had access to, and been supplied with,
all additional information deemed necessary by the Subscriber to verify the accuracy of such
information.

          (h) The Subscriber’s principal residence for tax purposes is North Carolina.

          (i) The Subscriber can bear the economic risk of the purchase of the Shares and of the loss of
the entire amount of the investment.

          (j) The Subscriber agrees not to transfer or assign this Agreement or any interest herein
without the prior written consent of the Company.

          (k) The Subscriber is legally competent to enter into this Agreement and to undertake the
transactions contemplated in this Agreement.

          (l) This Agreement has been duly and validly executed and delivered by the Subscriber and
constitutes the legal, valid and binding obligation of the Subscriber, enforceable in accordance
with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium,
liquidation, fraudulent conveyance and other similar laws and principles of equity affecting
creditors’ rights and remedies generally.

          (m) The Subscriber hereby agrees to indemnify the Company and hold it harmless against all
liabilities, claims, costs or expenses arising out of or resulting from any misrepresentation or
breach of any covenant made by the Subscriber in this Agreement.

     7. Additional Information. The Subscriber agrees that the Subscriber will provide
such additional information as the Company may reasonably request in evaluating the Subscriber’s
suitability to make this investment.

     8. Accredited Investor Determination. Please check and complete the following:

          The Subscriber certifies that the Subscriber is (check all that apply):

	 	 	 	 	 	 	 
	 

	 	o
	 	(a)
	 	a natural person whose individual net worth, or joint net
worth with that person’s spouse, exceeds $1,000,000;
	 
	 

	 	o
	 	(b)
	 	a natural person who had an individual net income in
excess of $200,000 in each of the two most recent years 
	 

	 	
	 	 	 	or joint income with
that person’s spouse in excess of $300,000 in each of those years and has a
reasonable expectation of reaching the same income level in the current year;
	 
	 

	 	o
	 	(c)
	 	a director or executive officer of the Company;
	 
	 

	 	o
	 	(d)
	 	none of the above.

5

 

     9. General Provisions.

          (a) The Agreement shall be governed by and construed, interpreted and enforced in accordance
with the internal, substantive laws of the State of Delaware, without regard to the conflicts of
laws principles thereto.

          (b) Compliance with the provisions of this Agreement may be waived only by a written
instrument specifically referring to this Agreement and signed by the party waiving compliance. No
course of dealing, nor any failure or delay in exercising any right, shall be construed as a
waiver, and no single or partial exercise of a right shall preclude any other or further exercise
of that or any other right.

          (c) This Agreement is the exclusive statement of the agreement among the parties concerning
the subject matter hereof. All negotiations, disclosures, discussions and investigations relating
to the subject matter of this Agreement are merged into this Agreement, and there are no
representations, warranties, covenants, understandings or agreements, oral or otherwise, relating
to the subject matter of this Agreement, other than those included or referenced herein.

          (d) Any notice, demand, offer, request or other communication required or permitted to be
given by either the Company or the Subscriber pursuant to the terms of this Agreement shall be in
writing and shall be deemed effectively given the earlier of (i) when received, (ii) when delivered
personally, (iii) one Business Day after being delivered by facsimile (with receipt of appropriate
confirmation), (iv) one Business Day after being deposited with an overnight courier service or (v)
four days after being deposited in the U.S. mail, first class with postage prepaid, and addressed
to the parties at the addresses provided to the Company or such other address as a party may
request by notifying the other in writing. The term “Business Day” means a day other than a
Saturday, Sunday or day on which banking institutions in Raleigh, North Carolina are authorized or
required to remain closed.

          (e) The parties will resolve any controversy or claim arising out of or relating to this
Agreement by arbitration in accordance with the provisions that follow. If any party shall commence
an arbitration proceeding, all defenses to the controversy or claim which is the subject of such
arbitration proceeding and all counterclaims shall be raised and resolved in such arbitration
proceeding. Any party may initiate, by written notice delivered to the other party(s), binding
arbitration in accordance with the now current AAA Commercial Arbitration Rules (the “Arbitration
Rules”). Any conflicts between the Arbitration Rules and this paragraph shall be resolved in favor
of this paragraph. Within ten Business Days after the initiation of arbitration, the parties shall
seek to identify one mutually acceptable impartial arbitrator selected by AAA to serve as sole
arbitrator. The seat of arbitration shall be in Raleigh, North Carolina. In any dispute covered
by this Agreement, either party may, notwithstanding the foregoing, request at any time pending a
final decision under this Agreement, a temporary restraining order, preliminary injunction or other
interim relief from any court of competent jurisdiction without thereby waiving its other rights
under this Agreement. BY EXECUTING THIS AGREEMENT THE SUBSCRIBER IS AGREEING TO HAVE ANY DISPUTE
ARISING OUT OF THIS AGREEMENT DECIDED BY ARBITRATION AND GIVING UP ANY RIGHTS SUBSCRIBER MIGHT
POSSESS TO HAVE THE DISPUTE LITIGATED IN A COURT OR

6

 

JURY TRIAL. BY EXECUTING THIS AGREEMENT SUBSCRIBER IS GIVING UP SUBSCRIBER’S JUDICIAL RIGHTS
TO DISCOVERY AND APPEAL. SUBSCRIBER’S AGREEMENT TO THIS ARBITRATION PROVISION IS VOLUNTARY.

          (f) This Agreement may be executed in one or more counterparts, each of which will be deemed
an original, but all of which together will constitute one and the same agreement. Facsimile
copies of signed signature pages shall be binding originals.

[Signatures on the Following Page]

7

 

     
The Subscriber has executed or caused this Agreement to be duly executed this          day of
                    , 20___.

	 	 	 	 	 
	 	 	Subscriber:

 	 
	 	  	 	 
	 	 	(Name) 	 
	 	 	 	 
	 	  	 	 
	 	 	(Signature) 	 
	 	 	 	 
	 

Accepted
this ___ day of                     , 20___.

	 	 	 	 	 
	SciQuest, Inc.

 	 	 
	By:  	 	 	 
	 	Stephen J. Wiehe 	 	 
	 	Chief Executive Officer and President

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