Document:

1999 Equity Incentive Plan, as amended, dated March 23, 2006

 Exhibit 10.1 
 KEYNOTE SYSTEMS, INC. 
 1999 EQUITY INCENTIVE PLAN 
 As Adopted June 28, 1999 and Amended on September 22, 1999, March 25, 2003 and March 23, 2006 
 1. PURPOSE. The purpose of this Plan is to provide incentives to attract, retain and motivate eligible persons whose present and potential
contributions are important to the success of the Company, its Parent and Subsidiaries, by offering them an opportunity to participate in the Company’s future performance through awards of Options, Restricted Stock and Stock Bonuses.
Capitalized terms not defined in the text are defined in Section 23. 
 2. SHARES SUBJECT TO THE PLAN.

 2.1 Number of Shares Available. Subject to Sections 2.2 and 18, the total number of Shares reserved
and available for grant and issuance pursuant to this Plan will be 5,000,000 Shares plus Shares that are subject to: (a) issuance upon exercise of an Option but cease to be subject to such Option for any reason other than exercise of such
Option; (b) an Award granted hereunder but are forfeited or are repurchased by the Company at the original issue price; and (c) an Award that otherwise terminates without Shares being issued. In addition, any authorized shares not issued
or subject to outstanding grants under the Keynote Systems, Inc. 1996 Stock Option Plan and the 1999 Stock Option Plan (the “Prior Plans”) on the Effective Date (as defined below) and any shares issued under the Prior Plans
that are forfeited or repurchased by the Company or that are issuable upon exercise of options granted pursuant to the Prior Plans that expire or become unexercisable for any reason without having been exercised in full, will no longer be available
for grant and issuance under the Prior Plans, but will be available for grant and issuance under this Plan. No more than 20,000,000 shares shall qualify as ISOs (as defined in Section 5 below). At all times the Company shall reserve and keep
available a sufficient number of Shares as shall be required to satisfy the requirements of all outstanding Options granted under this Plan and all other outstanding but unvested Awards granted under this Plan. 
 2.2 Adjustment of Shares. In the event that the number of outstanding shares is changed by a stock dividend,
recapitalization, stock split, reverse stock split, subdivision, combination, reclassification or similar change in the capital structure of the Company without consideration, then (a) the number of Shares reserved for issuance under this Plan,
(b) the Exercise Prices of and number of Shares subject to outstanding Options, and (c) the number of Shares subject to other outstanding Awards will be proportionately adjusted, subject to any required action by the Board or the
stockholders of the Company and compliance with applicable securities laws; provided, however, that fractions of a Share will not be issued but will either be replaced by a cash payment equal to the Fair Market Value of such fraction
of a Share or will be rounded up to the nearest whole Share, as determined by the Committee. 
 3. ELIGIBILITY. ISOs (as
defined in Section 5 below) may be granted only to employees (including officers and directors who are also employees) of the Company or of a Parent or Subsidiary of the Company. All other Awards may be granted to employees, officers,
directors, consultants, independent contractors and advisors of the Company or any Parent or Subsidiary of the Company; provided such consultants, contractors and advisors render bona fide services not in connection with the offer and sale of
securities in a capital-raising transaction. No person will be eligible to receive more than 1,000,000 Shares in any calendar year under this Plan pursuant to the grant of Awards hereunder, other than new employees of the Company or of a Parent or
Subsidiary of the Company (including new employees who are also officers and directors of the Company or any Parent or Subsidiary of the Company), who are eligible to receive up to a maximum of 2,000,000 Shares in the calendar year in which they
commence their employment. A person may be granted more than one Award under this Plan. 

 4. ADMINISTRATION. 
 4.1 Committee Authority. This Plan will be administered by the Committee or by the Board acting as the Committee. Except for
automatic grants to Outside Directors pursuant to Section 9 hereof, and subject to the general purposes, terms and conditions of this Plan, and to the direction of the Board, the Committee will have full power to implement and carry out this
Plan. Except for automatic grants to Outside Directors pursuant to Section 9 hereof, the Committee will have the authority to: 
 (a)
construe and interpret this Plan, any Award Agreement and any other agreement or document executed pursuant to this Plan; 
 (b) prescribe,
amend and rescind rules and regulations relating to this Plan or any Award; 
 (c) select persons to receive Awards; 
 (d) determine the form and terms of Awards; 
 (e) determine the number of Shares or other consideration subject to Awards; 
 (f) determine whether Awards will be granted singly,
in combination with, in tandem with, in replacement of, or as alternatives to, other Awards under this Plan or any other incentive or compensation plan of the Company or any Parent or Subsidiary of the Company; 
 (g) grant waivers of Plan or Award conditions; 
 (h) determine the vesting, exercisability and payment of Awards; 
 (i) correct any defect, supply any omission or reconcile any
inconsistency in this Plan, any Award or any Award Agreement; 
 (j) determine whether an Award has been earned; and 
 (k) make all other determinations necessary or advisable for the administration of this Plan. 
 4.2 Committee Discretion. Except for automatic grants to Outside Directors pursuant to Section 9 hereof, any
determination made by the Committee with respect to any Award will be made in its sole discretion at the time of grant of the Award or, unless in contravention of any express term of this Plan or Award, at any later time, and such determination will
be final and binding on the Company and on all persons having an interest in any Award under this Plan. The Committee may delegate to one or more officers of the Company the authority to grant an Award under this Plan to Participants who are not
Insiders of the Company. 
 5. OPTIONS. The Committee may grant Options to eligible persons and will determine whether such
Options will be Incentive Stock Options within the meaning of the Code (“ISO”) or Nonqualified Stock Options (“NQSOs”), the number of Shares subject to the Option, the Exercise Price of the Option, the
period during which the Option may be exercised, and all other terms and conditions of the Option, subject to the following: 
 5.1 Form of Option Grant. Each Option granted under this Plan will be evidenced by an Award Agreement which will expressly identify the Option as an ISO or an NQSO (“Stock
Option Agreement”), and, except as otherwise required by the terms of Section 9 hereof, will be in such form and contain such provisions (which need not be the same for each Participant) as the Committee may from time to time
approve, and which will comply with and be subject to the terms and conditions of this Plan. 
  

 2 

 5.2 Date of Grant. The date of grant of an Option will be the date on
which the Committee makes the determination to grant such Option, unless otherwise specified by the Committee. The Stock Option Agreement and a copy of this Plan will be delivered to the Participant within a reasonable time after the granting of the
Option. 
 5.3 Exercise Period. Options may be exercisable within the times or upon the events determined by the
Committee as set forth in the Stock Option Agreement governing such Option; provided, however, that no Option will be exercisable after the expiration of ten (10) years from the date the Option is granted; and provided
further that no ISO granted to a person who directly or by attribution owns more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or of any Parent or Subsidiary of the Company
(“Ten Percent Stockholder”) will be exercisable after the expiration of five (5) years from the date the ISO is granted. The Committee also may provide for Options to become exercisable at one time or from time
to time, periodically or otherwise, in such number of Shares or percentage of Shares as the Committee determines. 
 5.4
Exercise Price. The Exercise Price of an Option will be determined by the Committee when the Option is granted and may be not less than 85% of the Fair Market Value of the Shares on the date of grant; provided that: (i) the Exercise
Price of an ISO will be not less than 100% of the Fair Market Value of the Shares on the date of grant; and (ii) the Exercise Price of any ISO granted to a Ten Percent Stockholder will not be less than 110% of the Fair Market Value of the
Shares on the date of grant. Payment for the Shares purchased may be made in accordance with Section 8 of this Plan. 
 5.5 Method of Exercise. Options may be exercised only by delivery to the Company of a written stock option exercise agreement (the “Exercise Agreement”) in a form approved by the Committee
(which need not be the same for each Participant), stating the number of Shares being purchased, the restrictions imposed on the Shares purchased under such Exercise Agreement, if any, and such representations and agreements regarding
Participant’s investment intent and access to information and other matters, if any, as may be required or desirable by the Company to comply with applicable securities laws, together with payment in full of the Exercise Price for the number of
Shares being purchased. 
 5.6 Termination. Notwithstanding the exercise periods set forth in the Stock Option
Agreement, exercise of an Option will always be subject to the following: 
 (a) If the Participant is Terminated for any reason except death
or Disability, then the Participant may exercise such Participant’s Options only to the extent that such Options would have been exercisable upon the Termination Date no later than three (3) months after the Termination Date (or such
shorter or longer time period not exceeding five (5) years as may be determined by the Committee, with any exercise beyond three (3) months after the Termination Date deemed to be an NQSO), but in any event, no later than the expiration
date of the Options. 
 (b) If the Participant is Terminated because of Participant’s death or Disability (or the Participant dies within
three (3) months after a Termination other than for Cause or because of Participant’s Disability), then Participant’s Options may be exercised only to the extent that such Options would have been exercisable by Participant on the
Termination Date and must be exercised by Participant (or Participant’s legal representative or authorized assignee) no later than twelve (12) months after the Termination Date (or such shorter or longer time period not exceeding five
(5) years as may be determined by the Committee, with any such exercise beyond (a) three (3) months after the Termination Date when the Termination is for any reason other than the Participant’s death or Disability, or
(b) twelve (12) months after the Termination Date when the Termination is for Participant’s death or Disability, deemed to be an NQSO), but in any event no later than the expiration date of the Options. 
  

 3 

 (c) Notwithstanding the provisions in paragraph 5.6(a) above, if a Participant is terminated for Cause,
neither the Participant, the Participant’s estate nor such other person who may then hold the Option shall be entitled to exercise any Option with respect to any Shares whatsoever, after termination of service, whether or not after termination
of service the Participant may receive payment from the Company or Subsidiary for vacation pay, for services rendered prior to termination, for services rendered for the day on which termination occurs, for salary in lieu of notice, or for any other
benefits. In making such determination, the Board shall give the Participant an opportunity to present to the Board evidence on his behalf. For the purpose of this paragraph, termination of service shall be deemed to occur on the date when the
Company dispatches notice or advice to the Participant that his service is terminated. 
 5.7
Limitations on Exercise. The Committee may specify a reasonable minimum number of Shares that may be purchased on any exercise of an Option, provided that such minimum number will not prevent Participant from exercising the Option
for the full number of Shares for which it is then exercisable. 
 5.8 Limitations on ISO. The aggregate Fair
Market Value (determined as of the date of grant) of Shares with respect to which ISO are exercisable for the first time by a Participant during any calendar year (under this Plan or under any other incentive stock option plan of the Company, Parent
or Subsidiary of the Company) will not exceed $100,000. If the Fair Market Value of Shares on the date of grant with respect to which ISO are exercisable for the first time by a Participant during any calendar year exceeds $100,000, then the Options
for the first $100,000 worth of Shares to become exercisable in such calendar year will be ISO and the Options for the amount in excess of $100,000 that become exercisable in that calendar year will be NQSOs. In the event that the Code or the
regulations promulgated thereunder are amended after the Effective Date of this Plan to provide for a different limit on the Fair Market Value of Shares permitted to be subject to ISO, such different limit will be automatically incorporated herein
and will apply to any Options granted after the effective date of such amendment. 
 5.9
Modification, Extension or Renewal. The Committee may modify, extend or renew outstanding Options and authorize the grant of new Options in substitution therefor, provided that any such action may not, without the written
consent of a Participant, impair any of such Participant’s rights under any Option previously granted. Notwithstanding the foregoing, without first obtaining the consent of stockholders, the Committee may not (a) reduce the Exercise Price
of outstanding Options or (b) grant in substitution for cancelled Options (i) new Options having a lower exercise price, or (ii) other Awards authorized under the Plan. Any outstanding ISO that is modified, extended, renewed or
otherwise altered will be treated in accordance with Section 424(h) of the Code. 
 5.10 No Disqualification.
Notwithstanding any other provision in this Plan, no term of this Plan relating to ISO will be interpreted, amended or altered, nor will any discretion or authority granted under this Plan be exercised, so as to disqualify this Plan under
Section 422 of the Code or, without the consent of the Participant affected, to disqualify any ISO under Section 422 of the Code. 
 6. RESTRICTED STOCK. A Restricted Stock Award is an offer by the Company to sell to an eligible person Shares that are subject to restrictions. The Committee will determine to whom an offer will be made, the number of
Shares the person may purchase, the price to be paid (the “Purchase Price”), the restrictions to which the Shares will be subject, and all other terms and conditions of the Restricted Stock Award, subject to the
following: 
 6.1 Form of Restricted Stock Award. All purchases under a Restricted Stock Award made
pursuant to this Plan will be evidenced by an Award Agreement (“Restricted Stock Purchase Agreement”) that will be in such form (which need not be the same for each Participant) as the Committee will from time to
time approve, and will comply with and be subject to the terms and conditions of this Plan. The offer of Restricted Stock will be accepted by the Participant’s execution and delivery of the Restricted Stock Purchase Agreement and full payment
for the Shares to the Company within thirty (30) days from the date the Restricted Stock Purchase Agreement is delivered to the person. If such person does not execute and deliver the Restricted Stock Purchase Agreement along 

  

 4 

 
with full payment for the Shares to the Company within thirty (30) days, then the offer will terminate, unless otherwise determined by the Committee.

 6.2 Purchase Price. The Purchase Price of Shares sold pursuant to a Restricted Stock Award will be determined
by the Committee on the date the Restricted Stock Award is granted, except in the case of a sale to a Ten Percent Stockholder, in which case the Purchase Price will be 100% of the Fair Market Value. Payment of the Purchase Price may be made in
accordance with Section 8 of this Plan. 
 6.3 Terms of Restricted Stock Awards. Restricted Stock Awards shall be
subject to such restrictions as the Committee may impose. These restrictions may be based upon completion of a specified number of years of service with the Company or upon completion of the performance goals as set out in advance in the
Participant’s individual Restricted Stock Purchase Agreement. Restricted Stock Awards may vary from Participant to Participant and between groups of Participants. Prior to the grant of a Restricted Stock Award, the Committee shall:
(a) determine the nature, length and starting date of any Performance Period for the Restricted Stock Award; (b) select from among the Performance Factors to be used to measure performance goals, if any; and (c) determine the number
of Shares that may be awarded to the Participant. Prior to the payment of any Restricted Stock Award, the Committee shall determine the extent to which such Restricted Stock Award has been earned. Performance Periods may overlap and Participants may
participate simultaneously with respect to Restricted Stock Awards that are subject to different Performance Periods and having different performance goals and other criteria. 
 6.4 Termination During Performance Period. If a Participant is Terminated during a Performance Period for any
reason, then such Participant will be entitled to payment (whether in Shares, cash or otherwise) with respect to the Restricted Stock Award only to the extent earned as of the date of Termination in accordance with the Restricted Stock Purchase
Agreement, unless the Committee will determine otherwise. 
 7. STOCK BONUSES. 
 7.1 Awards of Stock Bonuses. A Stock Bonus is an award of Shares (which may consist of Restricted Stock) for
services rendered to the Company or any Parent or Subsidiary of the Company. A Stock Bonus may be awarded for past services already rendered to the Company, or any Parent or Subsidiary of the Company pursuant to an Award Agreement (the
“Stock Bonus Agreement”) that will be in such form (which need not be the same for each Participant) as the Committee will from time to time approve, and will comply with and be subject to the terms and conditions of this
Plan. A Stock Bonus may be awarded upon satisfaction of such performance goals as are set out in advance in the Participant’s individual Award Agreement (the “Performance Stock Bonus Agreement”) that will be in such form
(which need not be the same for each Participant) as the Committee will from time to time approve, and will comply with and be subject to the terms and conditions of this Plan. Stock Bonuses may vary from Participant to Participant and between
groups of Participants, and may be based upon the achievement of the Company, Parent or Subsidiary and/or individual performance factors or upon such other criteria as the Committee may determine. 
 7.2 Terms of Stock Bonuses. The Committee will determine the number of Shares to be awarded to the Participant. If
the Stock Bonus is being earned upon the satisfaction of performance goals pursuant to a Performance Stock Bonus Agreement, then the Committee will: (a) determine the nature, length and starting date of any Performance Period for each Stock
Bonus; (b) select from among the Performance Factors to be used to measure the performance, if any; and (c) determine the number of Shares that may be awarded to the Participant. Prior to the payment of any Stock Bonus, the Committee shall
determine the extent to which such Stock Bonuses have been earned. Performance Periods may overlap and Participants may participate simultaneously with respect to Stock Bonuses that are subject to different Performance Periods and different
performance goals and other criteria. The number of Shares may be fixed or may vary in accordance with such performance goals and criteria as may be determined by the Committee. The Committee may adjust the performance goals applicable to the Stock
Bonuses to take into account changes in law and accounting or tax rules and to make such adjustments as the Committee deems necessary or appropriate to reflect the impact of extraordinary or unusual items, events or circumstances to avoid windfalls
or hardships. 
  

 5 

 7.3 Form of Payment. The earned portion of a Stock Bonus may be paid
currently or on a deferred basis with such interest or dividend equivalent, if any, as the Committee may determine. Payment may be made in the form of cash or whole Shares or a combination thereof, either in a lump sum payment or in installments,
all as the Committee will determine. 
 8. PAYMENT FOR SHARE PURCHASES. 
 8.1 Payment. Payment for Shares purchased pursuant to this Plan may be made in cash (by check) or, where expressly approved for the
Participant by the Committee and where permitted by law: 
 (a) by cancellation of indebtedness of the Company to the Participant; 

(b) by surrender of shares that either: (1) have been owned by Participant for more than six (6) months and have been paid for within the
meaning of SEC Rule 144 (and, if such shares were purchased from the Company by use of a promissory note, such note has been fully paid with respect to such shares); or (2) were obtained by Participant in the public market; 
 (c) by tender of a full recourse promissory note having such terms as may be approved by the Committee and bearing interest at a rate sufficient to avoid
imputation of income under Sections 483 and 1274 of the Code; provided, however, that Participants who are not employees or directors of the Company will not be entitled to purchase Shares with a promissory note unless the note is
adequately secured by collateral other than the Shares; 
 (d) by waiver of compensation due or accrued to the Participant for services
rendered; 
 (e) with respect only to purchases upon exercise of an Option, and provided that a public market for the Company’s stock
exists: 
 (1) through a “same day sale” commitment from the Participant and a broker-dealer that is a member of the National
Association of Securities Dealers (an “NASD Dealer”) whereby the Participant irrevocably elects to exercise the Option and to sell a portion of the Shares so purchased to pay for the Exercise Price, and whereby the NASD
Dealer irrevocably commits upon receipt of such Shares to forward the Exercise Price directly to the Company; or 
 (2) through a
“margin” commitment from the Participant and a NASD Dealer whereby the Participant irrevocably elects to exercise the Option and to pledge the Shares so purchased to the NASD Dealer in a margin account as security for a loan from the NASD
Dealer in the amount of the Exercise Price, and whereby the NASD Dealer irrevocably commits upon receipt of such Shares to forward the Exercise Price directly to the Company; or 
 (f) by any combination of the foregoing. 
 8.2 Loan Guarantees. The Committee may help the Participant pay for Shares purchased under this Plan by authorizing a guarantee by the Company of a third-party loan to the Participant. 
 9. GRANTS TO OUTSIDE DIRECTORS. 
 9.1 Types of Options and Shares. Options granted under this Plan and subject to this Section 9 shall be NQSOs. 
  

 6 

 9.2 Eligibility. Options subject to this Section 9 shall be granted only to
Outside Directors. 
 9.3 Initial Grants. Each Outside Director who was a member of the Board before the Effective Date
will automatically be granted an Option for 50,000 Shares on the Effective Date, unless such Outside Director received a grant of Options before the Effective Date. Each Outside Director who first becomes a member of the Board on or after the
Effective Date will automatically be granted an Option for 60,000 Shares on the date such Outside Director first becomes a member of the Board (in either case an “Initial Grant”). 
 9.4 Additional Grants. Each Outside Director will be eligible for additional Options (an “Additional
Grant”) at the sole discretion of the Committee. No Outside Director shall receive Additional Grants during any fiscal year covering, in the aggregate, in excess of 40,000 Shares, provided that any Options received pursuant to
Section 9.3 above shall not count against such limit. 
 9.5 Vesting. 
 (a) The date an Outside Director receives an Initial Grant is referred to in this Plan as the “Start Date” for such Option. Each Initial Grant
will vest as to 25% of the Shares on the earlier of the first anniversary of the Start Date for such Initial Grant or the first Annual Meeting of stockholders of the Company following such Initial Grant, and as to 2.0833% of the Shares monthly
thereafter until all of the Shares are fully vested, so long as the Outside Director continuously remains a director of the Company. 
 (b)
The Committee, in its sole discretion, may set the vesting schedule of Additional Grants to Outside Directors. 
 (c) In the event of a
corporate transaction described in Section 18.1, the vesting of all options granted to Outside Directors pursuant to this Section 9 will accelerate and such options will become exercisable in full prior to the consummation of such event at
such times and on such conditions as the Committee determines, and must be exercised, if at all, within three months of the consummation of said event. Any options not exercised within such three-month period shall expire. 
 9.6 Exercise Price. The exercise price of an Option pursuant to an Initial Grant or an Additional Grant shall be the Fair
Market Value of the Shares, at the time that the Option is granted. 
  

	10.	WITHHOLDING TAXES. 

 10.1 Withholding Generally. Whenever Shares are to be issued in satisfaction of Awards granted under this Plan, the Company may require the Participant to remit to the Company an amount sufficient to satisfy federal, state and
local withholding tax requirements prior to the delivery of any certificate or certificates for such Shares. Whenever, under this Plan, payments in satisfaction of Awards are to be made in cash, such payment will be net of an amount sufficient to
satisfy federal, state, and local withholding tax requirements. 
 10.2 Stock Withholding. When, under applicable
tax laws, a Participant incurs tax liability in connection with the exercise or vesting of any Award that is subject to tax withholding and the Participant is obligated to pay the Company the amount required to be withheld, the Committee may in its
sole discretion allow the Participant to satisfy the minimum withholding tax obligation by electing to have the Company withhold from the Shares to be issued that number of Shares having a Fair Market Value equal to the minimum amount required to be
withheld, determined on the date that the amount of tax to be withheld is to be determined. All elections by a Participant to have Shares withheld for this purpose will be made in accordance with the requirements established by the Committee and be
in writing in a form acceptable to the Committee 
  

 7 

 11. TRANSFERABILITY. 
 11.1 Except as otherwise provided in this Section 11, Awards granted under this Plan, and any interest therein, will not be
transferable or assignable by Participant, and may not be made subject to execution, attachment or similar process, otherwise than by will or by the laws of descent and distribution or as determined by the Committee and set forth in the Award
Agreement with respect to Awards that are not ISOs. 
 11.2 All Awards other than NQSO’s. All Awards other than
NQSO’s shall be exercisable: (i) during the Participant’s lifetime, only by (A) the Participant, or (B) the Participant’s guardian or legal representative; and (ii) after Participant’s death, by the legal
representative of the Participant’s heirs or legatees. 
 11.3 NQSOs. Unless otherwise restricted by the
Committee, an NQSO shall be exercisable: (i) during the Participant’s lifetime only by (A) the Participant, (B) the Participant’s guardian or legal representative, (C) a Family Member of the Participant who has acquired
the NQSO by “permitted transfer;” and (ii) after Participant’s death, by the legal representative of the Participant’s heirs or legatees. “Permitted transfer” means, as authorized by this Plan and the Committee in
an NQSO, any transfer effected by the Participant during the Participant’s lifetime of an interest in such NQSO but only such transfers which are by gift or domestic relations order. A permitted transfer does not include any transfer for value
and neither of the following are transfers for value: (a) a transfer of under a domestic relations order in settlement of marital property rights or (b) a transfer to an entity in which more than fifty percent of the voting interests are
owned by Family Members or the Participant in exchange for an interest in that entity. 
 12.
PRIVILEGES OF STOCK OWNERSHIP; RESTRICTIONS ON SHARES. 
 12.1
Voting and Dividends. No Participant will have any of the rights of a stockholder with respect to any Shares until the Shares are issued to the Participant. After Shares are issued to the Participant, the Participant will be a
stockholder and have all the rights of a stockholder with respect to such Shares, including the right to vote and receive all dividends or other distributions made or paid with respect to such Shares; provided, that if such Shares are
Restricted Stock, then any new, additional or different securities the Participant may become entitled to receive with respect to such Shares by virtue of a stock dividend, stock split or any other change in the corporate or capital structure of the
Company will be subject to the same restrictions as the Restricted Stock; provided, further, that the Participant will have no right to retain such stock dividends or stock distributions with respect to Shares that are repurchased at
the Participant’s Purchase Price or Exercise Price pursuant to Section 12. 
 12.2 Financial Statements.
The Company will provide financial statements to each Participant prior to such Participant’s purchase of Shares under this Plan, and to each Participant annually during the period such Participant has Awards outstanding; provided,
however, the Company will not be required to provide such financial statements to Participants whose services in connection with the Company assure them access to equivalent information. 
 12.3 Restrictions on Shares. At the discretion of the Committee, the Company may reserve to itself and/or its assignee(s) in the
Award Agreement a right to repurchase a portion of or all Unvested Shares held by a Participant following such Participant’s Termination at any time within ninety (90) days after the later of Participant’s Termination Date and the
date Participant purchases Shares under this Plan, for cash and/or cancellation of purchase money indebtedness, at the Participant’s Exercise Price or Purchase Price, as the case may be. 
 13. CERTIFICATES. All certificates for Shares or other securities delivered under this Plan will be subject to such stock transfer orders,
legends and other restrictions as the Committee may deem necessary or advisable, including restrictions under any applicable federal, state or foreign securities law, or any rules, regulations and other requirements of the SEC or any stock exchange
or automated quotation system upon which the Shares may be listed or quoted. 
  

 8 

 14. ESCROW; PLEDGE OF SHARES. To enforce any restrictions on a
Participant’s Shares, the Committee may require the Participant to deposit all certificates representing Shares, together with stock powers or other instruments of transfer approved by the Committee, appropriately endorsed in blank, with the
Company or an agent designated by the Company to hold in escrow until such restrictions have lapsed or terminated, and the Committee may cause a legend or legends referencing such restrictions to be placed on the certificates. Any Participant who is
permitted to execute a promissory note as partial or full consideration for the purchase of Shares under this Plan will be required to pledge and deposit with the Company all or part of the Shares so purchased as collateral to secure the payment of
Participant’s obligation to the Company under the promissory note; provided, however, that the Committee may require or accept other or additional forms of collateral to secure the payment of such obligation and, in any event, the
Company will have full recourse against the Participant under the promissory note notwithstanding any pledge of the Participant’s Shares or other collateral. In connection with any pledge of the Shares, Participant will be required to execute
and deliver a written pledge agreement in such form as the Committee will from time to time approve. The Shares purchased with the promissory note may be released from the pledge on a pro rata basis as the promissory note is paid. 
 15. EXCHANGE AND BUYOUT OF AWARDS. The Committee may, at any time or from time to time, authorize the Company, with the
consent of the respective Participants, to issue new Awards in exchange for the surrender and cancellation of any or all outstanding Awards. The Committee may at any time buy from a Participant an Award previously granted with payment in cash,
Shares (including Restricted Stock) or other consideration, based on such terms and conditions as the Committee and the Participant may agree. 
 16. SECURITIES LAW AND OTHER REGULATORY COMPLIANCE. An Award will not be effective unless such Award is in compliance with all applicable federal and state securities laws, rules and regulations of any
governmental body, and the requirements of any stock exchange or automated quotation system upon which the Shares may then be listed or quoted, as they are in effect on the date of grant of the Award and also on the date of exercise or other
issuance. Notwithstanding any other provision in this Plan, the Company will have no obligation to issue or deliver certificates for Shares under this Plan prior to: (a) obtaining any approvals from governmental agencies that the Company
determines are necessary or advisable; and/or (b) completion of any registration or other qualification of such Shares under any state or federal law or ruling of any governmental body that the Company determines to be necessary or advisable.
The Company will be under no obligation to register the Shares with the SEC or to effect compliance with the registration, qualification or listing requirements of any state securities laws, stock exchange or automated quotation system, and the
Company will have no liability for any inability or failure to do so. 
 17. NO OBLIGATION TO EMPLOY. Nothing in
this Plan or any Award granted under this Plan will confer or be deemed to confer on any Participant any right to continue in the employ of, or to continue any other relationship with, the Company or any Parent or Subsidiary of the Company or limit
in any way the right of the Company or any Parent or Subsidiary of the Company to terminate Participant’s employment or other relationship at any time, with or without cause. 
 18. CORPORATE TRANSACTIONS. 
 18.1 Assumption or Replacement of Awards by Successor. Except for automatic grants to Outside Directors pursuant to Section 9 hereof, in the event of (a) a dissolution or
liquidation of the Company, (b) a merger or consolidation in which the Company is not the surviving corporation (other than a merger or consolidation with a wholly-owned subsidiary, a reincorporation of the Company in a different jurisdiction,
or other transaction in which there is no substantial change in the stockholders of the Company or their relative stock holdings and the Awards granted under this Plan are assumed, converted or replaced by the successor corporation, which assumption
will be binding on all Participants), (c) a merger in which the Company is the surviving corporation but after which the stockholders of the Company immediately prior to such merger (other than any stockholder that merges, or which owns or
controls another corporation that merges, with the Company in such merger) cease to own their shares or other equity interest in the Company, (d) the sale of substantially all of the assets of the Company, or (e) the acquisition, sale, or
transfer of more than 50% of the outstanding shares of the Company by tender offer or similar transaction, any or all outstanding Awards may be assumed, converted or replaced by the successor corporation (if 

  

 9 

 
any), which assumption, conversion or replacement will be binding on all Participants. In the alternative, the successor corporation may substitute
equivalent Awards or provide substantially similar consideration to Participants as was provided to stockholders (after taking into account the existing provisions of the Awards). The successor corporation may also issue, in place of outstanding
Shares of the Company held by the Participants, substantially similar shares or other property subject to repurchase restrictions no less favorable to the Participant. In the event such successor corporation (if any) refuses to assume or substitute
Awards, as provided above, pursuant to a transaction described in this Subsection 18.1, such Awards will expire on such transaction at such time and on such conditions as the Committee will determine. Notwithstanding anything in this Plan to the
contrary, the Committee may, in its sole discretion, provide that the vesting of any or all Awards granted pursuant to this Plan will accelerate upon a transaction described in this Section 18. If the Committee exercises such discretion with
respect to Options, such Options will become exercisable in full prior to the consummation of such event at such time and on such conditions as the Committee determines, and if such Options are not exercised prior to the consummation of the
corporate transaction, they shall terminate at such time as determined by the Committee. 
 18.2
Other Treatment of Awards. Subject to any greater rights granted to Participants under the foregoing provisions of this Section 18, in the event of the occurrence of any transaction described in Section 18.1, any
outstanding Awards will be treated as provided in the applicable agreement or plan of merger, consolidation, dissolution, liquidation, or sale of assets. 
 18.3 Assumption of Awards by the Company. The Company, from time to time, also may substitute or assume outstanding awards granted by another company, whether in connection with an
acquisition of such other company or otherwise, by either; (a) granting an Award under this Plan in substitution of such other company’s award; or (b) assuming such award as if it had been granted under this Plan if the terms of such
assumed award could be applied to an Award granted under this Plan. Such substitution or assumption will be permissible if the holder of the substituted or assumed award would have been eligible to be granted an Award under this Plan if the other
company had applied the rules of this Plan to such grant. In the event the Company assumes an award granted by another company, the terms and conditions of such award will remain unchanged (except that the exercise price and the number and
nature of Shares issuable upon exercise of any such option will be adjusted appropriately pursuant to Section 424(a) of the Code). In the event the Company elects to grant a new Option rather than assuming an existing option, such new Option
may be granted with a similarly adjusted Exercise Price. 
 19. ADOPTION AND STOCKHOLDER APPROVAL. This Plan
will become effective on the date on which the registration statement filed by the Company with the SEC under the Securities Act registering the initial public offering of the Company’s Common Stock is declared effective by the SEC (the
“Effective Date”). This Plan shall be approved by the stockholders of the Company (excluding Shares issued pursuant to this Plan), consistent with applicable laws, within twelve (12) months before or after the date
this Plan is adopted by the Board. Upon the Effective Date, the Committee may grant Awards pursuant to this Plan; provided, however, that: (a) no Option may be exercised prior to initial stockholder approval of this Plan;
(b) no Option granted pursuant to an increase in the number of Shares subject to this Plan approved by the Board will be exercised prior to the time such increase has been approved by the stockholders of the Company; (c) in the event that
initial stockholder approval is not obtained within the time period provided herein, all Awards granted hereunder shall be cancelled, any Shares issued pursuant to any Awards shall be cancelled and any purchase of Shares issued hereunder shall be
rescinded; and (d) in the event that stockholder approval of such increase is not obtained within the time period provided herein, all Awards granted pursuant to such increase will be cancelled, any Shares issued pursuant to any Award granted
pursuant to such increase will be cancelled, and any purchase of Shares pursuant to such increase will be rescinded. 
 20.
TERM OF PLAN/GOVERNING LAW. Unless earlier terminated as provided herein, this Plan will terminate ten (10) years from the date this Plan is adopted by the Board or, if earlier, the date of stockholder approval. This Plan
and all agreements thereunder shall be governed by and construed in accordance with the laws of the State of California. 
 21.
AMENDMENT OR TERMINATION OF PLAN. The Board may at any time terminate or amend this Plan in any respect, including without limitation amendment of any form of Award Agreement or 

  

 10 

 
instrument to be executed pursuant to this Plan; provided, however, that the Board will not, without the approval of the stockholders of the
Company, amend this Plan in any manner that requires such stockholder approval. 
 22.
NONEXCLUSIVITY OF THE PLAN. Neither the adoption of this Plan by the Board, the submission of this Plan to the stockholders of the Company for approval, nor any provision of this Plan will be construed as creating any
limitations on the power of the Board to adopt such additional compensation arrangements as it may deem desirable, including, without limitation, the granting of stock options and bonuses otherwise than under this Plan, and such arrangements may be
either generally applicable or applicable only in specific cases. 
 23. DEFINITIONS. As used in this Plan, the
following terms will have the following meanings: 
 “Award” means any award under this Plan,
including any Option, Restricted Stock or Stock Bonus. 
 “Award Agreement” means, with respect
to each Award, the signed written agreement between the Company and the Participant setting forth the terms and conditions of the Award. 
 “Board” means the Board of Directors of the Company. 
 “Cause” means the commission of an act of theft, embezzlement, fraud, dishonesty or a breach of fiduciary duty to the Company or a Parent or Subsidiary of the Company. 
 “Code” means the Internal Revenue Code of 1986, as amended. 
 “Committee” means the Compensation Committee of the Board. 
 “Company” means Keynote Systems, Inc. or any successor corporation. 
 “Disability” means a disability, whether temporary or permanent, partial or total, as determined by the Committee.

 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
 “Exercise Price” means the price at which a holder of an Option may purchase the Shares issuable upon
exercise of the Option. 
 “Fair Market Value” means, as of any date, the value of a share
of the Company’s Common Stock determined as follows: 
 (a) if such Common Stock is then quoted on the Nasdaq National Market, its
closing price on the Nasdaq National Market on the date of determination as reported in The Wall Street Journal; 
 (b)
if such Common Stock is publicly traded and is then listed on a national securities exchange, its closing price on the date of determination on the principal national securities exchange on which the Common Stock is listed or admitted to trading as
reported in The Wall Street Journal; 
 (c) if such Common Stock is publicly traded but is not quoted on the Nasdaq National Market nor
listed or admitted to trading on a national securities exchange, the average of the closing bid and asked prices on the date of determination as reported in The Wall Street Journal; 
 (d) in the case of an Award made on the Effective Date, the price per share at which shares of the Company’s Common Stock are initially offered for
sale to the public by the Company’s underwriters in the initial public offering of the Company’s Common Stock pursuant to a registration statement filed with the SEC under the Securities Act; or 
  

 11 

 (e) if none of the foregoing is applicable, by the Committee in good faith. 
 “Family Member” includes any of the following: 
 (a) child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law,
son-in-law, daughter-in-law, brother-in-law, or sister-in-law of the Participant, including any such person with such relationship to the Participant by adoption; 
 (b) any person (other than a tenant or employee) sharing the Participant’s household; 
 (c) a trust in
which the persons in (a) and (b) have more than fifty percent of the beneficial interest; 
 (d) a foundation in which the persons
in (a) and (b) or the Participant control the management of assets; or 
 (e) any other entity in which the persons in (a) and
(b) or the Participant own more than fifty percent of the voting interest. 
 “Insider” means an
officer or director of the Company or any other person whose transactions in the Company’s Common Stock are subject to Section 16 of the Exchange Act. 
 “Option” means an award of an option to purchase Shares pursuant to Section 5. 
 “Outside Director” means a member of the Board who is not an employee of the Company or any Parent, Subsidiary or
Affiliate of the Company. 
 “Parent” means any corporation (other than the Company) in an unbroken
chain of corporations ending with the Company if each of such corporations other than the Company owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain.

 “Participant” means a person who receives an Award under this Plan. 
 “Performance Factors” means the factors selected by the Committee from among the following measures to determine
whether the performance goals established by the Committee and applicable to Awards have been satisfied: 
 (a) Net revenue and/or net revenue
growth; 
 (b) Earnings before income taxes and amortization and/or earnings before income taxes and amortization growth; 
 (c) Operating income and/or operating income growth; 
 (d) Net income and/or net income growth; 
 (e) Earnings per share and/or earnings per share growth; 
 (f) Total stockholder return and/or total stockholder return growth; 
 (g) Return on equity; 
  

 12 

 (h) Operating cash flow return on income; 
 (i) Adjusted operating cash flow return on income; 
 (j) Economic value added; and 
 (k) Individual confidential business objectives. 
 “Performance Period” means the period of service determined by the Committee, not to exceed five years, during
which years of service or performance is to be measured for Restricted Stock Awards or Stock Bonuses. 
 “Plan” means this Keynote Systems, Inc. 1999 Equity Incentive Plan, as amended from time to time. 
 “Restricted Stock Award” means an award of Shares pursuant to Section 6. 
 “SEC” means the Securities and Exchange Commission. 
 “Securities Act” means the Securities Act of 1933, as amended. 
 “Shares” means shares of the Company’s Common Stock reserved for issuance under this Plan, as adjusted pursuant to Sections 2 and 18, and any successor security. 
 “Stock Bonus” means an award of Shares, or cash in lieu of Shares, pursuant to Section 7. 
 “Subsidiary” means any corporation (other than the Company) in an unbroken chain of corporations beginning with
the Company if each of the corporations other than the last corporation in the unbroken chain owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain. 
 “Termination” or “Terminated” means, for purposes of this Plan with respect to a
Participant, that the Participant has for any reason ceased to provide services as an employee, officer, director, consultant, independent contractor, or advisor to the Company or a Parent or Subsidiary of the Company. An employee will not be deemed
to have ceased to provide services in the case of (i) sick leave, (ii) military leave, or (iii) any other leave of absence approved by the Committee, provided, that such leave is for a period of not more than 90 days, unless
reemployment upon the expiration of such leave is guaranteed by contract or statute or unless provided otherwise pursuant to formal policy adopted from time to time by the Company and issued and promulgated to employees in writing. In the case of
any employee on an approved leave of absence, the Committee may make such provisions respecting suspension of vesting of the Award while on leave from the employ of the Company or a Subsidiary as it may deem appropriate, except that in no event may
an Option be exercised after the expiration of the term set forth in the Option agreement. The Committee will have sole discretion to determine whether a Participant has ceased to provide services and the effective date on which the Participant
ceased to provide services (the “Termination Date”). 
 “Unvested Shares”
means “Unvested Shares” as defined in the Award Agreement. 
 “Vested Shares” means
“Vested Shares” as defined in the Award Agreement. 
  

 13Agreement with UBS Securities LLC dated February 3, 2006

 Exhibit 10.2 
 

 
 Keynote Systems Inc. 
 SECURITIES REPURCHASE PLAN 
 Pursuant to the authority (the “Board Authority”) granted by
the Board of Directors of Keynote Systems, Inc. (the “Purchaser”) at its meeting held January 21, 2005, the Purchaser was authorized to repurchase up to 1 million shares of its common stock (the “Securities”): 
  

	1	The Purchaser hereby requests UBS Securities LLC (“UBS”) to act as its agent to purchase the Securities pursuant to the plan described herein (the “Plan”). All
purchases by UBS pursuant to this Plan and all actions taken by the Purchaser in respect of the institution of this Plan shall be subject to the provisions of the letter agreement between the Purchaser and UBS dated January 25, 2005. The Purchaser
agrees not to take, nor permit any person or entity under its control to take, any action that could reasonably be expected to jeopardize the availability of Rule 10b-18 (“Rule 10b-18”) under the Securities Exchange Act of 1934, as amended
(the “Exchange Act”) for the repurchases pursuant to the plan. 

  

	2	If following, a request pursuant to paragraph 1, UBS agrees in writing to purchase Securities pursuant to the Plan: 

  

	 	(a)	UBS shall conduct its purchase of Securities pursuant to this Plan on behalf of the Purchaser until terminated in accordance with the provisions of the following sentence. The Plan
shall take effect of April 15, 2006 and terminate on the earlier of (i) the close of business on October 13, 2006, (ii) the date on which the Maximum Amount (as defined below) of Securities have been purchased, (iii) the date on which UBS terminates
its appointment in accordance with the following sentence and (iv) the date, if any, the Purchaser notifies UBS that the Purchaser’s outside counsel has advised the Purchaser that repurchases under this Plan may violate an applicable law, rule
or regulation. UBS may terminate its appointment on written notice to the Purchaser. Any termination under (iii) or (iv) shall be effective on the first business day after the day on which the notice is given, provided that such termination shall be
effective when the notice is given if required by law. Such written notice may be made by facsimile, as provided in paragraph 2(l). Notwithstanding termination, the Purchaser shall be solely responsible for any purchases made by UBS on the
Purchaser’s behalf prior to UBS’s receipt of such written notice of termination. 

  

	 	(b)	The Purchaser will not give any instructions with respect to the execution of this plan to UBS and UBS will not take any instructions from the Purchaser, other than as described in
Paragraph 2(f) below. The Purchaser will not communicate any non-public information to the (equities division - note the breadth of this restriction needs to be considered on a case by case basis in light of the relationships the Purchaser has with
various ‘equities’ divisions, including ECM) of UBS during the term of this Plan. 

  

	 	(c)	The Purchaser will notify UBS (i) of the intension on the part of any affiliated purchaser, as defined in Rule 10b-18, of the Purchaser to purchase Securities on any day if such
purchase is to be effected otherwise than through UBS pursuant to this Plan, and (ii) if the Purchaser is engaged in a distribution of Securities within the meaning of Regulation M under the Exchange Act, and upon receipt of such notification UBS
shall refrain from purchasing any Securities hereunder on such day. The Purchaser shall be solely responsible for any purchases made by UBS on the Purchaser’s behalf prior to UBS’s receipt of such notification. Notwithstanding this and the
preceding paragraphs, if UBS receives a notice to terminate or suspend, purchase for any reason, UBS shall nevertheless be entitled to make, and the Purchaser shall be solely responsible for, a purchase hereunder pursuant to a bid made before such
termination or suspension is to become effective. 

  

	 	(d)	On the date UBS agrees to purchase Securities pursuant to the Plan, the Purchaser will be deemed to have given an irrevocable order to UBS to purchase, during the period from April
15, 2006 until October 13, 2006 (inclusive), at then prevailing prices and in accordance with the terms of this Plan and the Letter Agreement referred to above, a maximum of 1,000,000 Securities at a price of $15.00 per share or less. UBS shall be
permitted to buy a block of stock that exceeds the applicable 10b-18 volume limits on any given day, provided that no other 10b-18 purchases are made and the price does not exceed $11.50 per share. 

 UBS and the Purchaser intend that the purchase of Securities contemplated by this Plan comply with the requirements of Rule 10b0-5-1 (c)(1)(i)(B) under
the Exchange Act, and shall be interpreted so as to comply with the requirements of Rule 10b5-1(c). Accordingly, the Purchaser represents to UBS that as of the date of any initial purchase under the plan pursuant to Paragraph 1, the Purchaser is not
aware of material non-public information with respect to the Purchaser or any of its securities, including the Securities and is entering into this Plan in good faith and not as a part of a plan or scheme to evade the prohibitions of Rule 10b5-1.
The Purchaser acknowledges that Rule 10b5-1 does not permit the Purchaser to (i) exercise any influence over how, when or whether UBS effects purchases of the Securities contemplated by this plan or (ii) alter or deviate from this Plan or to change
the number of Securities, price or timing of the purchases of Securities contemplated hereby. 
 Except as otherwise provided in this Plan,
UBS shall determine, in its sole discretion, the timing, amount, prices and manner of purchase of Securities during such period, so long as such purchases are within the limits established by the Purchaser for such period. 
  

	 	(e)	UBS shall provide confirmations of purchases of Securities to the Purchaser promptly and to other persons as the Purchaser designates in writing in addition UBS shall provide
reports of such transactions to the Purchaser or its designee as agreed by the Purchaser and UBS. 

  

	 	(f)	The purchaser shall pay for the Securities within three business days after purchase. Purchased Securities will be held or delivered in accordance with the Purchaser’s written
instructions. The Purchaser agrees to pay to UBS a fee of $0.03 per share for Securities purchased pursuant to this Plan. 

  

	 	(g)	On the Date the Purchaser makes a request pursuant to Paragraph 1, the Purchaser will be deemed to represent and warrant to UBS that: this Plan and the transactions contemplated by
this Plan have been duly authorized by the Purchaser; upon UBS’s agreement to purchase Securities pursuant to this Plan, this Plan is the valid and binding agreement of the Purchaser, enforceable in accordance with its terms; performance of the
transactions contemplated herein will not violate any law, rule, regulation, order, judgement or decree applicable to the Purchaser or conflict with or result in a breach of or constitute a default under any agreement or instrument to which the
Purchaser is a party by which it or any of its property is bound; no governmental, administrative or official consent, approval, authorization, notice or filing is required to perform the transactions contemplated herein; and it has publicly
disclosed its intention to institute the Plan for the acquisition of the Securities contemplated hereby. 

  

					
	UBS Securities LLC is a subsidiary of UBS AG.	 	 	 	Member SIPC
	UBS Securities is a financial services group of UBS AG	 	 	 	 Member New York Stock Exchange
 and
other Principal Exchanges

 

 
  

	 	(h)	The Purchaser shall indemnify UBS and its affiliates and employees against any liabilities or expenses (including reasonable attorney’s fees and disbursements), or actions in
respect of any liabilities or expenses, arising from or relating to the services furnished pursuant to, or from any matter referred to in, this Plan including, but not limited to, liabilities and expenses arising by reason of any violation or
alleged violation of any state or federal securities laws, except to the extent such liabilities or expenses result from gross negligence or bad faith of UBS or its affiliates. The Purchaser shall also promptly reimburse UBS and its affiliates for
all reasonable expenditures (including reasonable attorney’s fees and disbursements) made to investigate, prepare or defend any action or claim in respect of any such liability or expense, regardless of whether any litigation is pending or
threatened against UBS or its affiliates. The provisions of this paragraph shall survive the termination of this Plan. 

  

	 	(i)	All communications and notices shall be in writing (including facsimile transmissions) or confirmed in writing (including facsimile transmissions) and (unless provided otherwise)
shall be effective when received at the address specified below or such other address designated by written notice to the other party. 

  

	 	(i)	if to UBS, to it at 

 UBS Securities LLC 
 677 Washington Blvd. 
 6th Floor Trading South 
 Stamford, CT 06901 
 Attn: Young Z. Kim 
  

	 	(ii)	if to the Purchaser, to it at 

 Keynote Systems, Inc.

 777 Mariners Island Boulevard 
 San Mateo, CA 94404 
 Attn: Drew Hamer - Chief Financial Officer 
  

	 	(j)	Neither party may assign its rights and obligations under this Plan to any other party, provided however that UBS may assign its rights and obligations under this Plan to any
affiliate of UBS. 

  

	3	Neither party shall refer to the other or any affiliate of the other in any public statement or disclosure document without the prior consent of the other party or such affiliate.

  

	4	This Plan shall be governed by and construed in accordance with the law of the State of New York (without giving effect to any provisions thereof relating to conflicts of law).

 Dated: 2/3/06 
  

			
	Keynote Systems, Inc.
		
	By:	 	/s/ Drew Hamer
	Name:	 	Drew Hamer
	Title:	 	Chief Financial Officer

  

									
	UBS Securities LLC	 	 	 	 
					
	By:	 	/s/ Andrew Tuthill	 	 	 	By:	 	 
	Name:	 	Andrew Tuthill	 	 	 	Name:	 	Young Kim
	Title:	 	Managing Director	 	 	 	Title:	 	Director

  

 2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00103-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00103-of-00352.parquet"}]]