Document:

Exhibit 10.15

 

Incentive Stock Option Agreement
under

the Open Link Financial, Inc.

2006 Stock Option and Grant Plan

 

	
  Name of Optionee:

  	
   

  	
  (the “Optionee”)

  
	
   

  	
   

  	
   

  
	
  No. of Option Shares:

  	
   

  	
  Shares of Common Stock

  
	
   

  	
   

  	
   

  
	
  Grant Date:

  	
   

  	
  (the “Grant Date”)

  
	
   

  	
   

  	
   

  
	
  Expiration Date:

  	
   

  	
  (the “Expiration Date”)

  
	
   

  	
   

  	
   

  
	
  Option Exercise Price/Share:

  	
  $

  	
   

  	
  (the “Option Exercise Price”)

  
					

 

 

Pursuant to the Open Link Financial, Inc. 2006 Stock
Option and Grant Plan (the “Plan”), Open Link Financial, Inc., a
Delaware corporation (together with all successors thereto, the “Company”),
hereby grants to the Optionee, who is an employee of the Company or one of its
Subsidiaries, an option (the “Stock Option”) to purchase on or prior to
the Expiration Date, or such earlier date as is specified herein, all or any
part of the number of shares of Common Stock, par value $0.001 per share (“Stock”),
of the Company indicated above (the “Option Shares,” and such shares
once issued shall be referred to as the “Issued Shares”), at the Option
Exercise Price per share, subject to the terms and conditions set forth in this
Incentive Stock Option Agreement (this “Agreement”) and in the Plan.
This Stock Option is intended to qualify as an “incentive stock option” as
defined in Section 422(b) of the Internal Revenue Code of 1986, as
amended from time to time (the “Code”). To the extent that any portion
of the Stock Option does not so qualify, it shall be deemed a non-qualified
stock option.

 

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

 

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

 

“Bankruptcy” shall mean (i) the filing of a
voluntary petition under any bankruptcy or insolvency law, or a petition for
the appointment of a receiver or the making of an assignment for the benefit of
creditors, with respect to the Optionee or any Permitted Transferee, as the
case may be, or (ii) the Optionee or any Permitted Transferee, as the case
may be, being subjected involuntarily to such a petition or assignment or to an
attachment or other legal or equitable interest with respect to the Optionee’s
or such Permitted Transferee’s assets, which involuntary petition or assignment
or attachment is not discharged within 60 days after its date,

 

 

and (iii) the Optionee or any Permitted Transferee,
as the case may be, being subject to a transfer of the Stock Option or the
Issued Shares by operation of law (including by divorce, even if not
insolvent), except by reason of death.

 

“Cause” means a dismissal as a result of (i) the commission of any act by
the Optionee constituting financial dishonesty against the Company or its
Subsidiaries (which act would be chargeable as a crime under applicable law); (ii) the
Optionee’s engaging in any other act of dishonesty, fraud, intentional
misrepresentation, moral turpitude, illegality or harassment which, as
determined in good faith by the Board, would: (A) materially adversely
affect the business or the reputation of the Company or any of its Subsidiaries
with their respective current or prospective customers, suppliers, lenders
and/or other third parties with whom such entity does or might do business; or (B) expose
the Company or any of its Subsidiaries to a risk of civil or criminal legal
damages, liabilities or penalties; (iii) the repeated willful failure by
the Optionee to follow the directives of the chief executive officer of the
Company or any of its Subsidiaries, the Board, or the board of directors of any
of the Company’s Subsidiaries or (iv) any material misconduct, material
violation of the Company’s written policies, or willful and deliberate
non-performance of duty by the Optionee in connection with the business affairs
of the Company or its Subsidiaries. [In the event the Optionee is a party to an employment
agreement with the Company, its Subsidiaries or any successor entity that
contains a different definition of “cause,” the definition set forth in such
other agreement shall be applicable to the Optionee for purposes of this
Agreement and not this definition.]

 

“Good
Reason” means the occurrence of any of the following
events: (i) a substantial adverse change in the nature or scope of the
Optionee’s responsibilities, authorities, powers, functions or duties; (ii) a
reduction in the Optionee’s annual base salary except for across-the-board
salary reductions similarly affecting all or substantially all management
employees; or (iii) the relocation of the offices at which the Optionee is
principally employed to a location more than 50 miles from such offices. [In the event the Optionee is a party to an employment
agreement with the Company, its Subsidiaries or any successor entity that
contains a different definition of “good reason,” the definition set forth in
such other agreement shall be applicable to the Optionee for purposes of this
Agreement and not this definition.]

 

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

 

“Person” shall mean any individual, corporation, partnership (limited or
general), limited liability company, limited liability partnership,
association, trust, joint venture, unincorporated organization or any similar
entity.

 

2

 

“Sale
Event” shall mean, regardless of form thereof, the
consummation, in any transaction or series of related transactions, of (i) the
dissolution or liquidation of the Company, (ii) the sale of all or
substantially all of the assets of the Company on a consolidated basis to an
unrelated person or entity, (iii) a merger, reorganization or consolidation
involving the Company in which the holders of the Company’s outstanding voting
power immediately prior to such transaction do not own a majority of the
outstanding voting power of the successor entity immediately upon completion of
such transaction, (iv) the sale of all or a majority of the outstanding
capital stock of the Company to an unrelated person or entity or (v) any
other transaction in which the owners of the Company’s outstanding voting power
immediately prior to such transaction do not own at least a majority of the
outstanding voting power of the successor entity immediately upon completion of
the transaction; provided, however, that the consummation of a public offering
of shares of capital stock by the Company shall in no event be deemed a Sale
Event.

 

“Service
Relationship” shall mean any relationship as
an employee, part-time employee, or other key person (including consultants) of
the Company or any Subsidiary or any successor entity such that, for example, a
Service Relationship shall be deemed to continue without interruption in the
event the Optionee’s status changes from full-time employee to part-time
employee or consultant.

 

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

 

2.                                           Vesting, Exercisability and Termination.

 

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

 

(b)                                 Except as set forth below, and subject to the determination of the
Committee in its sole discretion to accelerate the vesting schedule hereunder,
this Stock Option shall be vested and exercisable with respect to the Option
Shares on the respective dates indicated below:

 

	
  Incremental Number of

  Option Shares Exercisable

  	
   

  	
  Vesting Date

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  20%

  	
   

  	
  [               , 2007]

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  5%

  	
   

  	
  At
  the end of each quarterly period commencing [               , 2007]

  	
   

  

 

3

 

Notwithstanding anything herein to the contrary (i) if
the Optionee’s Service Relationship terminates by reason of such Optionee’s
death or disability (as defined in Section 422(c) of the Code) prior
to a Sale Event, the vesting of each tranche of Option Shares set forth in this
Section 2(b) shall accelerate by one year, (ii) without
limitation of Section 6, upon the consummation of any Sale Event, the
vesting of each tranche of Option Shares set forth in this Section 2(b) shall
accelerate by one year and (iii) without limitation of Section 6, in
the event that this Stock Option is assumed or continued by the Company of its
successor entity in the sole discretion of the parties to a Sale Event and
thereafter remains in effect following such Sale Event as contemplated by Section 6,
then this Stock Option shall be deemed vested and exercisable in full on the
date upon which the Optionee’s Service Relationship with the Company, its
Subsidiary or any successor entity terminates if such termination is either by
the Company or any such Subsidiary or successor without Cause or by the
Optionee for Good Reason.

 

(c)                                  Termination. Except as may otherwise be
provided by the Committee, if the Optionee’s Service Relationship is
terminated, the period within which to exercise this Stock Option will be
subject to earlier termination as set forth below (and if not exercised within
such period, shall thereafter terminate):

 

(i)                                     Termination Due to Death or Disability. If the
Optionee’s Service Relationship terminates by reason of such Optionee’s death
or disability (as defined in Section 422(c) of the Code), this Stock
Option may be exercised, to the extent exercisable on the date of such
termination, by the Optionee, the Optionee’s legal representative or legatee
for a period of 12 months from the date of death or disability or until the
Expiration Date, if earlier.

 

(ii)                                  Other Termination. If the Optionee’s
Service Relationship terminates for any reason other than death or disability
(as defined in Section 422(c) of the Code), and unless otherwise
determined by the Committee, this Stock Option may be exercised, to the extent
exercisable on the date of termination, for a period of 90 days from the date
of termination or until the Expiration Date, if earlier; provided  however,
if the Optionee’s Service Relationship is terminated for Cause, this Stock
Option shall terminate immediately upon the date of such termination.

 

For purposes hereof, the Committee’s determination of the
reason for termination of the Optionee’s Service Relationship shall be
conclusive and binding on the Optionee and his or her representatives or
legatees or Permitted Transferees. Any portion of this Stock Option that is not
exercisable on the date of termination of the Service Relationship shall
terminate immediately and be null and void.

 

(d)                                 It is understood and intended that this Stock Option is intended to
qualify as an “incentive stock option” as defined in Section 422 of the
Code to the extent permitted under applicable law. Accordingly, the Optionee
understands that in order to obtain the benefits of an incentive stock option
under Section 422 of the Code, no sale or other disposition may be made of
Issued Shares for which incentive stock option treatment is desired within the
one-year period beginning on the day after the day of the transfer of such
Issued Shares to him or her, nor within the two-year period beginning on the
day after the grant of this Stock Option and further that this Stock Option
must be exercised within three (3) months after termination of

 

4

 

employment as an employee (or 12 months in the case of
death or disability) to qualify as an incentive stock option. If the Optionee
disposes (whether by sale, gift, transfer or otherwise) of any such Issued
Shares within either of these periods, he or she will notify the Company within
30 days after such disposition. The Optionee also agrees to provide the Company
with any information concerning any such dispositions required by the Company
for tax purposes. Further, to the extent Option Shares and any other incentive
stock options of the Optionee having an aggregate Fair Market Value in excess
of $100,000 (determined as of the Grant Date) vest in any year, such options
will not qualify as incentive stock options.

 

3.                                           Exercise of Stock Option.

 

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

 

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

 

(ii)                                  if the Initial Public Offering has occurred, then (A) through the
delivery (or attestation to ownership) of shares of Stock that have been
purchased by the Optionee on the open market or that are beneficially owned by
the Optionee and are not subject to restrictions under any plan of the Company,
provided that, to the extent required to avoid variable accounting
treatment under FAS 123R or other applicable accounting rules, such surrendered
shares shall have been owned by the Optionee for at least six months, and in
any event with an aggregate Fair Market Value (as of the date of such exercise)
equal to the option purchase price, (B) by the Optionee delivering to the
Company a properly executed Exercise Notice together with irrevocable instructions
to a broker to promptly deliver to the Company cash or a check payable and
acceptable to the Company to pay the option purchase price, provided that in
the event the Optionee chooses to pay the option purchase price as so provided,
the Optionee and the broker shall comply with such procedures and enter into
such agreements of indemnity and other agreements as the Committee shall
prescribe as a condition of such payment procedure, or (C) a combination
of (i), (ii)(A) and (ii)(B) above.

 

(b)                                 Certificates for the Option Shares so purchased will be issued and delivered
to the Optionee upon compliance to the satisfaction of the Committee with all
requirements under applicable laws or regulations in connection with such
issuance. Until the Optionee shall have complied with the requirements hereof
and of the Plan, the Company shall be under no obligation to issue the Option
Shares subject to this Stock Option, and the determination of the Committee as
to such compliance shall be final and binding on the Optionee. The Optionee
shall not be deemed to be the holder of, or to have any of the rights of a
holder with respect to, any shares of Stock subject to this Stock Option unless
and until this

 

5

 

Stock Option shall have been exercised pursuant to the
terms hereof, the Company shall have issued and delivered the Issued Shares to
the Optionee, and the Optionee’s name shall have been entered as a stockholder
of record on the books of the Company. Thereupon, the Optionee shall have full
dividend and other ownership rights with respect to such Issued Shares, subject
to the terms of this Agreement.

 

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

 

4.                                      Incorporation of Plan. Notwithstanding anything herein to the contrary, this Stock Option shall
be subject to and governed by all the terms and conditions of the Plan.

 

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

 

6.                                      Effect of Certain Transactions.

 

(a)                                  In the case of a Sale Event, this Stock Option shall terminate upon the
effective time of such Sale Event unless provision is made in connection with
such transaction, in the sole discretion of the parties thereto, for the
continuation or assumption of this Stock Option heretofore granted, or the
substitution of this Stock Option with a new Stock Option of the successor
entity or a parent thereof, with such adjustment to the number and kind of
shares and the per share exercise prices as such parties shall agree. In the
event of such a termination, the Optionee shall be permitted, for a specified
period of time prior to the consummation of the Sale Event as determined by the
Committee, to exercise all portions of the Stock Option which are then
exercisable.

 

(b)                                 Notwithstanding anything to the contrary in this Agreement or in the
Plan, in the event of a Sale Event pursuant to which holders of the Stock of
the Company will receive upon consummation thereof solely a cash payment for
each share surrendered in the Sale Event, the Company shall have the right, but
not the obligation, (i) to make or provide for a cash payment to the
Optionee in respect of vested Options having an exercise price less than the
cash payable per share of Stock pursuant to the Sale Event (the “Sale Price”), in exchange for the cancellation thereof, an amount equal to the
difference between (A) the Sale Price times the number of shares of Stock
subject to such outstanding vested Options and (B) the aggregate exercise
price of all such outstanding vested Options (such difference, the “Spread”) and (ii) provided that the Optionee agrees to the restriction
contained in the next sentence, to make or provide for a cash payment to the
Optionee in respect of unvested Options having an exercise

 

6

 

price less than the Sale Price, in exchange for the
cancellation thereof, an amount equal to the Spread on such unvested Options
(the “Unvested Spread”). The Optionee shall be entitled to receive the
Unvested Spread only if he enters into an agreement with the Company providing
that the Unvested Spread shall be payble only as follows: (1) if the
Optionee’s Service Relationship does not terminate prior to the next date on
which all or any portion of the applicable unvested Options would have vested
pursuant to the terms of this Agreement without regard to the provisions of
this Section 6(b)(ii) (such date and each such date thereafter, a “Vesting
Date”), that portion of the Unvested Spread that is attributable to the
unvested Options that would have vested on such Vesting Date shall be paid to
the Optionee on such Vesting Date, (2) if the Optionee’s Service
Relationship is terminated by the Company without Cause or by the Optionee for
Good Reason, any remaining unpaid portion of the Unvested Spread shall be paid
to the Optionee within ten (10) days of such termination and (3) if
the Optionee’s Service Relationship is terminated by the Company for Cause, by
the Optionee without Good Reason, or by reason of the Optionee’s death or
disability (as defined in Section 422(c) of the Code), or upon the
Bankruptcy of the Optionee, no additional payment shall be made to the Optionee
after the date of such termination.

 

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

 

8.                                      Restrictions on Transfer of Issued Shares. None of the Issued
Shares acquired upon exercise of the Stock Option shall be sold, assigned,
transferred, pledged, hypothecated, given away or in any other manner disposed
of or encumbered, whether voluntarily or by operation of law, unless such
transfer is in compliance with all applicable securities laws (including,
without limitation, the Securities Act of 1933, as amended, and the rules and
regulations thereunder (the “Act”)), and such disposition is in accordance with
the terms and conditions of Sections 8 and 9 hereof and such disposition does
not cause the Company to become subject to the reporting requirements of the
Securities Exchange Act of 1934, as amended. In connection with any transfer of
Issued Shares, the Company may require the transferor to provide at the
Optionee’s own expense an opinion of counsel to the transferor, satisfactory to
the Company, that such transfer is in compliance with all foreign, federal and
state securities laws (including, without limitation, the Act). Any attempted
disposition of Issued Shares not in accordance with the terms and conditions of
Sections 8 and 9 hereof shall be null and void, and the Company shall not
reflect on its records any change in record ownership of any Issued Shares as a
result of any such disposition, shall otherwise refuse to recognize any such
disposition and shall not in any way give effect to any such disposition of any
Issued Shares.

 

7

 

Subject to the foregoing general provisions, Issued Shares
may be transferred pursuant to the following specific terms and conditions:

 

(a)                                  Transfers to Permitted Transferees. The
Optionee may sell, assign, transfer or give away any or all of the Issued
Shares to Permitted Transferees; provided, however, that such
Permitted Transferee(s) shall, as a condition to any such transfer, agree
to be subject to the provisions of this Agreement to the same extent as the
Optionee (including, without limitation, the provisions of Sections 8, 9, 11
and 12) and shall have delivered a written acknowledgment to that effect to the
Company.

 

(b)                                 Transfers Upon Death. Upon
the death of the Optionee, any Issued Shares then held by the Optionee at the
time of such death and any Issued Shares acquired thereafter by the Optionee’s
legal representative pursuant to this Agreement shall be subject to the
provisions of Sections 8, 9, 10, 11 and 12, if applicable, and the Optionee’s
estate, executors, administrators, personal representatives, heirs, legatees
and distributees shall be obligated to convey such Issued Shares to the Company
or its assigns under the terms contemplated hereby.

 

(c)                                  Company’s Right of First Refusal. In the
event that the Optionee (or any Permitted Transferee holding Issued Shares
subject to this Section 8(c)) desires to sell or otherwise transfer all or
any part of the Issued Shares, the Optionee (or Permitted Transferee) first
shall give written notice to the Company of the Optionee’s (or Permitted
Transferee’s) intention to make such transfer. Such notice shall state the
number of Issued Shares which the Optionee (or Permitted Transferee) proposes
to sell (the “Offered Shares”), the price and the terms at which the proposed
sale is to be made and the name and address of the proposed transferee. At any
time within 30 days after the receipt of such notice by the Company, the
Company or its assigns may elect to purchase all or any portion of the Offered
Shares at the price and on the terms offered by the proposed transferee and
specified in the notice. The Company or its assigns shall exercise this right
by mailing or delivering written notice to the Optionee (or Permitted
Transferee) within the foregoing 30-day period. If the Company or its assigns
elect to exercise its purchase rights under this Section 8(c), the closing
for such purchase shall, in any event, take place within 45 days after the
receipt by the Company of the initial notice from the Optionee (or Permitted
Transferee). In the event that the Company or its assigns do not elect to
exercise such purchase right, or in the event that the Company or its assigns
do not pay the full purchase price within such 45-day period, the Optionee (or
Permitted Transferee) may, within 60 days thereafter, sell the Offered Shares to
the proposed transferee and at the same price and on the same terms as
specified in the Optionee’s (or Permitted Transferee’s) notice. Any Shares
purchased by such proposed transferee shall be deemed held by a Permitted
Transferee and accordingly shall remain subject to the terms of this Agreement,
including without limitation, the provisions of Sections 8, 9, 10, 11 and 12
below to the same extent as if the Optionee continued to hold them. Any Shares
not sold to the proposed transferee shall remain subject to this Agreement.
Notwithstanding the foregoing, the restrictions under this Section 8(c) shall
terminate in accordance with Section 13(a).

 

9.                                      Company’s Right of Repurchase.

 

(a)                                  Right of Repurchase. The Company shall have
the right (the “Repurchase Right”) upon the occurrence of any of the events
specified in Section 9(b) below (the

 

8

 

“Repurchase
Event”) to repurchase from the Optionee (or any Permitted Transferee) some or
all (as determined by the Company) of the Issued Shares held or subsequently
acquired upon exercise of this Stock Option in accordance with the terms hereof
by the Optionee (or any Permitted Transferee) at the price per share specified
below. The Repurchase Right may be exercised by the Company within the later of
(i) six months following the date of such event or (ii) seven months
after the exercise of this Stock Option (the “Repurchase Period”). The
Repurchase Right shall be exercised by the Company by giving the Optionee or
any Permitted Transferee written notice on or before the last day of the
Repurchase Period of its intention to exercise the Repurchase Right, and,
together with such notice, tendering to the Optionee or Permitted Transferee an
amount equal to the Fair Market Value of the shares, determined as provided in Section 9(c).
The Company may assign the Repurchase Right to one or more Persons. Upon such
notification, the Optionee and any Permitted Transferees shall promptly
surrender to the Company any certificates representing the Issued Shares being
purchased, together with a duly executed stock power for the transfer of such
Issued Shares to the Company or the Company’s assignee or assignees. Upon the
Company’s or its assignee’s receipt of the certificates from the Optionee or
any Permitted Transferees (or at such later date as is determined necessary by
the Committee to avoid any breach by the Company of any agreement to which it
is a party), the Company or its assignee or assignees shall deliver to him, her
or them a check for the Repurchase Price of the Issued Shares being purchased; provided, however, that the Company
may pay the Repurchase Price for such shares by offsetting and canceling any
indebtedness then owed by the Optionee to the Company. At such time, the Optionee
and/or any holder of the Issued Shares shall deliver to the Company the
certificate or certificates representing the Issued Shares so repurchased, duly
endorsed for transfer, free and clear of any liens or encumbrances. The
Repurchase Right shall terminate in accordance with Section 13(a).

 

(b)                                 Company’s Right to Exercise Repurchase Right. The Company shall have the Repurchase Right in the event that any of
the following events shall occur:

 

(i)                                     The termination
of the Optionee’s Service Relationship for any reason whatsoever, regardless of
the circumstances thereof, and including without limitation upon death,
disability, retirement, discharge or resignation for any reason, whether
voluntarily or involuntarily; or

 

(ii)                                  The Optionee’s
or Permitted Transferee’s Bankruptcy.

 

(c)                                  Determination of Fair Market Value. The Fair
Market Value of the Issued Shares shall be, for purposes of this Section 9,
determined by the Board as of the date the Board elects to exercise its
repurchase rights in connection with a Repurchase Event.

 

10.                               Escrow
Arrangement.

 

(a)                                  Escrow. In order to carry out the
provisions of Sections 8, 9 and 11 of this Agreement more effectively, the
Company shall hold any Issued Shares in escrow together with separate stock
powers executed by the Optionee in blank for transfer, and any Permitted
Transferee shall, as an additional condition to any transfer of Issued Shares,
execute a like stock power as to such Issued Shares. The Company shall not
dispose of the Issued Shares except as otherwise provided in this Agreement. In
the event of any repurchase by the Company (or any of

 

9

 

its assigns), the Company is hereby authorized by the
Optionee and any Permitted Transferee, as the Optionee’s and each such
Permitted Transferee’s attorney-in-fact, to date and complete the stock powers
necessary for the transfer of the Issued Shares being purchased and to transfer
such Issued Shares in accordance with the terms hereof. At such time as any
Issued Shares are no longer subject to the Company’s repurchase, first refusal
and drag along rights, the Company shall, at the written request of the
Optionee, deliver to the Optionee (or the relevant Permitted Transferee) a
certificate representing such Issued Shares with the balance of the Issued
Shares to be held in escrow pursuant to this Section 10.

 

(b)                                 Remedy. Without limitation of any other provision of this
Agreement or other rights, in the event that the Optionee, any Permitted
Transferees or any other person or entity is required to sell the Optionee’s
Issued Shares pursuant to the provisions of Section 8, 9 and 11 of this
Agreement and in the further event that he or she refuses or for any reason
fails to deliver to the Company or its designated purchaser of such Issued
Shares the certificate or certificates evidencing such Issued Shares together
with a related stock power, the Company or such designated purchaser may
deposit the applicable purchase price for such Issued Shares with a bank
designated by the Company, or with the Company’s independent public accounting
firm, as agent or trustee, or in escrow, for the Optionee, any Permitted
Transferees or other person or entity, to be held by such bank or accounting
firm for the benefit of and for delivery to him, her, them or it, and/or, in
its discretion, pay such purchase price by offsetting any indebtedness then
owed by the Optionee as provided above. Upon any such deposit and/or offset by
the Company or its designated purchaser of such amount and upon notice to the
person or entity who was required to sell the Issued Shares to be sold pursuant
to the provisions of Sections 8, 9 and 11, such Issued Shares shall at such
time be deemed to have been sold, assigned, transferred and conveyed to such
purchaser, the holder thereof shall have no further rights thereto (other than
the right to withdraw the payment thereof held in escrow, if applicable), and
the Company shall record such transfer in its stock transfer book or in any
appropriate manner.

 

11.                               Drag Along Right. In the event the holders of a majority of the Company’s equity
securities then outstanding (the “Majority Shareholders”) determine to sell or
otherwise dispose of all or substantially all of the assets of the Company or
all or fifty percent (50%) or more of the capital stock of the Company in each
case in a transaction constituting a change in control of the Company, to any
non-Affiliate(s) of the Company or any of the Majority Shareholders, or to
cause the Company to merge with or into or consolidate with any non-Affiliate(s) of
the Company or any of the Majority Shareholders (in each case, the “Buyer”) in
a bona fide negotiated
transaction (a “Sale”), the Optionee, including any Permitted Transferees,
shall be obligated to and shall upon the written request of a Majority
Shareholders (a) sell, transfer and deliver, or cause to be sold,
transferred and delivered, to the Buyer, his or her Issued Shares on
substantially the same terms applicable to the Majority Shareholders (with
appropriate adjustments to reflect the conversion of convertible securities,
the redemption of redeemable securities and the exercise of exercisable
securities as well as the relative preferences and priorities of preferred
stock); and (b) execute and deliver such instruments of conveyance and
transfer and take such other action, including voting such Issued Shares in
favor of any Sale proposed by the Majority Shareholders and executing any
purchase agreements, merger agreements, indemnity agreements, escrow agreements
or related documents, as the Majority Shareholders or the Buyer may reasonably
require in order to carry out the terms and provisions

 

10

 

of this Section 11. The obligations under this Section 11
shall terminate in accordance with Section 13(a).

 

12.                               Lockup Provision. The Optionee agrees, if
requested by the Company and any underwriter engaged by the Company, not to
sell or otherwise transfer or dispose of any securities of the Company
(including, without limitation, pursuant to Rule 144 under the Act) held
by him or her for (a) one hundred eighty (180) days following the
effective date of the relevant registration statement filed under the Act in
connection with the Company’s Initial Public Offering, or (b) ninety (90)
days following the effective date of the relevant registration statement in
connection with any other public offering of Stock, as the Company and such
underwriter shall specify reasonably and in good faith. Notwithstanding the
foregoing, if: (x) during the last 17 days of the foregoing 180-day period
or 90-day period, as applicable, the Company issues an earnings release or
material news or a material event relating to the Company occurs; or (y) prior
to the expiration of the 180-day period or 90-day period, as applicable, the
Company announces that it will release earnings results during the 16-day
period beginning on the last day of the period, then the restrictions described
above shall continue to apply until the expiration of an 18-day period
beginning on the issuance of the earnings release or the occurrence of the
material news or material event. The Optionee agrees, if requested by the
underwriter engaged by the Company, to execute a separate letter reflecting the
agreement set forth in this Section 12.

 

13.                               Miscellaneous Provisions.

 

(a)                                  Termination. The Company’s repurchase rights under Section 9, the restrictions
on transfer of Issued Shares under Section 8 and the Drag Along
obligations under Section 11 shall terminate upon the closing of the
Company’s Initial Public Offering, or upon consummation of any Sale Event, in
either case, as a result of which shares of the Company (or successor entity)
of the same class as the Issued Shares are registered under Section 12 of
the Exchange Act and publicly traded on NASDAQ/NMS or any national security
exchange.

 

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

 

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

 

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

 

11

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

12

 

excluded under this Agreement, and each party hereby
irrevocably waives any claim to such damages.

 

The parties covenant and agree that they will participate
in the arbitration in good faith. This Section 13(j) applies equally
to requests for temporary, preliminary or permanent injunctive relief, except
that in the case of temporary or preliminary injunctive relief any party may
proceed in court without prior arbitration for the limited purpose of avoiding
immediate and irreparable harm.

 

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

 

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

 

[SIGNATURE PAGE FOLLOWS]

 

13

 

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

 

	
   

  	
  OPEN
  LINK FINANCIAL, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  Address:

  
	
   

  	
   

  
	
   

  	
  Open Link Financial

  Services, Inc.

  
	
   

  	
  1502 Reckson Plaza

  West Tower -15th Floor

  
	
   

  	
  Uniondale, NY 11556-1502

  
				

 

 

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

 

	
   

  	
  OPTIONEE:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
   

  
	
   

  	
  Address:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  

 

	
  [SPOUSE’S CONSENT

  	
   

  
	
  I acknowledge that I have read the

  	
   

  
	
  foregoing Incentive Stock Option Agreement

  	
   

  
	
  and understand the contents thereof.

  	
   

  
	
   

  	
   

  
	
  ]

  	
   

  

 

14

 

	
   

  	
  DESIGNATED
  BENEFICIARY:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Beneficiary’s
  Address:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  

 

15

 

Appendix A

 

STOCK OPTION EXERCISE NOTICE

 

Open Link Financial, Inc.

Attention: Chief Financial Officer

1502 Reckson Plaza

West Tower -15th Floor

Uniondale, NY 11556-1502

 

Pursuant to the terms of my stock option agreement
dated                                 (the
“Agreement”) under the Open Link Financial, Inc. 2006 Stock Option and
Grant Plan, I, [Insert Name]                                  ,
hereby [Circle One] partially/fully exercise such option by including herein
payment in the amount of $           representing
the purchase price for [Fill in number of Option Shares]               
option shares. I have chosen the following form(s) of payment:

 

	
  o

  	
  1.

  	
   

  	
  Cash

  
	
  o

  	
  2.

  	
   

  	
  Certified
  or bank check payable to Open Link Financial, Inc.

  
	
  o

  	
  3.

  	
   

  	
  Other
  (as described in the Agreement (please describe))

                                                                                                                  .

  

 

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

 

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

 

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

 

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

 

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

 

(v)                                 I understand that the option shares may not be registered under the
Securities Act of 1933 or any applicable state securities or “blue sky” laws
and may not be sold or otherwise transferred or disposed of in the absence of
an effective registration statement under the Securities Act of 1933 and under
any applicable state securities or “blue sky” laws (or exemptions from the
registration requirement thereof). I further

 

16

 

acknowledge that certificates representing option shares
will bear restrictive legends reflecting the foregoing.

 

	
   

  	
  Sincerely yours,

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Name: 

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Address:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  

 

17Exhibit 10.16

 

Non-Qualified
Stock Option Agreement under

the Open Link Financial, Inc.
 2006 Stock Option and Grant Plan

 

	
  Name of Optionee:

  	
   

  	
   

  	
  (the “Optionee”)

  
	
   

  	
   

  	
   

  	
   

  
	
  No. of Option Shares:

  	
   

  	
   

  	
  Shares of Common Stock

  
	
   

  	
   

  	
   

  	
   

  
	
  Grant Date:

  	
   

  	
   

  	
  (the “Grant Date”)

  
	
   

  	
   

  	
   

  	
   

  
	
  Expiration Date:

  	
   

  	
   

  	
  (the “Expiration Date”)

  
	
   

  	
   

  	
   

  	
   

  
	
  Option Exercise Price/Share:

  	
  $

  	
   

  	
   

  	
  (the “Option Exercise Price”)

  
								

 

Pursuant to the Open Link Financial, Inc.
2006 Stock Option and Grant Plan (the “Plan”), Open Link Financial, Inc.,
a Delaware corporation (together with all successors thereto, the “Company”),
hereby grants to the Optionee, who is an officer, employee, director,
consultant or other key person of the Company or one of its Subsidiaries, an
option (the “Stock Option”) to purchase on or prior to the
Expiration Date, or such earlier date as is specified herein, all or any part of
the number of shares of Stock, par value $0.001 per share (“Stock”), of
the Company indicated above (the “Option Shares,” and such shares once
issued shall be referred to as the “Issued Shares”), at the Option
Exercise Price per share, subject to the terms and conditions set forth in this
Non-Qualified Stock Option Agreement (this “Agreement”) and in the Plan.
This Stock Option is not intended to qualify as an “incentive stock option” as
defined in Section 422(b) of the Internal Revenue Code of 1986, as
amended from time to time (the “Code”).

 

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

 

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

 

“Bankruptcy” shall mean (i) the
filing of a voluntary petition under any bankruptcy or insolvency law, or a
petition for the appointment of a receiver or the making of an assignment for
the benefit of creditors, with respect to the Optionee or any Permitted
Transferee, as the case may be, or (ii) the Optionee or any Permitted
Transferee, as the case may be, being subjected involuntarily to such a
petition or assignment or to an attachment or other legal or equitable interest
with respect to the Optionee’s or such Permitted Transferee’s assets, which
involuntary petition or assignment or attachment is not discharged within 60
days after its date, and (iii) the Optionee or any Permitted Transferee,
as the case may be, being subject to a transfer

 

 

of the Stock Option or the Issued Shares by operation of law (including
by divorce, even if not insolvent), except by reason of death.

 

“Cause” means dismissal as a result of
(i) the commission of any act by the Optionee constituting financial
dishonesty against the Company or its Subsidiaries (which act would be
chargeable as a crime under applicable law); (ii) the Optionee’s engaging
in any other act of dishonesty, fraud, intentional misrepresentation, moral
turpitude, illegality or harassment which, as determined in good faith by the
Board, would: (A) materially adversely affect the business or the
reputation of the Company or any of its Subsidiaries with their respective
current or prospective customers, suppliers, lenders and/or other third parties
with whom such entity does or might do business; or (B) expose the Company
or any of its Subsidiaries to a risk of civil or criminal legal damages,
liabilities or penalties; (iii) the repeated willful failure by the
Optionee to follow the directives of the chief executive officer of the Company
or any of its Subsidiaries, the Board, or the board of directors of any of the
Company’s Subsidiaries or (iv) any material misconduct, material violation
of the Company’s written policies, or willful and deliberate non-performance of
duty by the Optionee in connection with the business affairs of the Company or
its Subsidiaries. [In the event the Optionee is a party to an employment agreement or service
agreement with the Company, its Subsidiaries or any successor entity that
contains a different definition of “cause,” the definition set forth in such
other agreement shall be applicable to the Optionee for purposes of this
Agreement and not this definition.]

 

“Good Reason” means the occurrence of
any of the following events: (i) a substantial adverse change in the
nature or scope of the Optionee’s responsibilities, authorities, powers,
functions or duties; (ii) a reduction in the Optionee’s annual base salary
except for across-the-board salary reductions similarly affecting all or
substantially all management employees; or (iii) the relocation of the
offices at which the Optionee is principally employed to a location more than
50 miles from such offices. [In the event the Optionee is a party to an employment
agreement or service agreement with the Company, its Subsidiaries or any
successor entity that contains a different definition of “good reason,” the
definition set forth in such other agreement shall be applicable to the
Optionee for purposes of this Agreement and not this definition.]

 

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

 

“Person” shall mean any individual,
corporation, partnership (limited or general), limited liability company,
limited liability partnership, association, trust, joint venture,
unincorporated organization or any similar entity.

 

2

 

“Sale Event” shall mean, regardless of
form thereof, the consummation, in any transaction or series of
related transactions, of (i) the dissolution or liquidation of the
Company, (ii) the sale of all or substantially all of the assets of the
Company on a consolidated basis to an unrelated person or entity, (iii) a
merger, reorganization or consolidation involving the Company in which the
holders of the Company’s outstanding voting power immediately prior to such
transaction do not own a majority of the outstanding voting power of the
successor entity immediately upon completion of such transaction, (iv) the
sale of all or a majority of the outstanding capital stock of the Company to an
unrelated person or entity or (v) any other transaction in which the
owners of the Company’s outstanding voting power immediately prior to such
transaction do not own at least a majority of the outstanding voting power of
the successor entity immediately upon completion of the transaction; provided,
however, that the consummation of a public offering of shares of capital stock
by the Company shall in no event be deemed a Sale Event.

 

“Service Relationship” shall mean any
relationship as an employee, part-time employee, or other key person (including
consultants) of the Company or any Subsidiary or any successor entity such
that, for example, a Service Relationship shall be deemed to continue without
interruption in the event the Optionee’s status changes from full-time employee
to part- time employee or consultant.

 

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

 

2.                                           Vesting, Exercisability and
Termination.

 

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

 

(b)                            Except as set forth below,
and subject to the determination of the Committee in its sole discretion to
accelerate the vesting schedule hereunder, this Stock Option shall be
vested and exercisable with respect to the Option Shares on the respective
dates indicated below:

 

	
  Incremental
  Number of

  	
   

  	
   

  
	
  Option
  Shares Exercisable

  	
   

  	
  Vesting Date

  
	
   

  	
   

  	
   

  
	
  20%

  	
   

  	
  [               ,
  2007]

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  At the end
  of each

  
	
   

  	
   

  	
  quarterly
  period

  
	
   

  	
   

  	
  commencing

  
	
  5%

  	
   

  	
  [               ,
  2007]

  

 

3

 

Notwithstanding anything herein to the
contrary (i) if the Optionee’s Service Relationship terminates by reason
of such Optionee’s death or disability (as defined in Section 422(c) of
the Code) prior to a Sale Event, the vesting of each tranche of Option Shares
set forth in this Section 2(b) shall accelerate by one year, (ii) without
limitation of Section 6, upon the consummation of any Sale Event, the
vesting of each tranche of Option Shares set forth in this Section 2(b) shall
accelerate by one year and (iii) without limitation of Section 6, in
the event that this Stock Option is assumed or continued by the Company of its
successor entity in the sole discretion of the parties to a Sale Event and
thereafter remains in effect following such Sale Event as contemplated by Section 6,
then this Stock Option shall be deemed vested and exercisable in full on the
date upon which the Optionee’s Service Relationship with the Company, its
Subsidiary or any successor entity terminates if such termination is either by
the Company or any such Subsidiary or successor without Cause or by the Optionee
for Good Reason.

 

(c)                                  Termination.
Except as may otherwise be provided by the Committee, if the Optionee’s
Service Relationship is terminated, the period within which to exercise this
Stock Option will be subject to earlier termination as set forth below (and if
not exercised within such period, shall thereafter terminate):

 

(i)                                Termination
Due to Death, Disability or Retirement. If the Optionee’s Service
Relationship terminates by reason of such Optionee’s death or disability (as
defined in Section 422(c) of the Code), this Stock Option may be
exercised, to the extent exercisable on the date of such termination, by the
Optionee, the Optionee’s legal representative or legatee for a period of 12
months from the date of death or disability or until the Expiration Date, if
earlier.

 

(ii)                             Other
Termination. If the Optionee’s Service Relationship terminates for any
reason other than death, disability (as defined in Section 422(c) of
the Code) or retirement (after attainment of age 60), and unless otherwise determined
by the Committee, this Stock Option may be exercised, to the extent
exercisable on the date of termination, for a period of 90 days from the date
of termination or until the Expiration Date, if earlier; provided  however,
if the Optionee’s Service Relationship is terminated for Cause, this Stock
Option shall terminate immediately upon the date of such termination.

 

For purposes hereof, the Committee’s
determination of the reason for termination of the Optionee’s Service
Relationship shall be conclusive and binding on the Optionee and his or her
representatives or legatees or Permitted Transferees. Any portion of this Stock
Option that is not exercisable on the date of termination of the Service
Relationship shall terminate immediately and be null and void.

 

3.                                      Exercise of Stock Option.

 

(a)                                  The Optionee may exercise
this Stock Option only in the following manner: Prior to the Expiration Date,
the Optionee may deliver a Stock Option exercise notice (an “Exercise
Notice”) in the form of Appendix A hereto indicating his
or her election to purchase some or all of the Option Shares with respect to
which this Stock Option is exercisable at the time of such notice. Such notice
shall specify the number of Option Shares to be

 

4

 

purchased. Payment of the purchase price may be made by one or
more of the methods described below. Payment instruments will be received
subject to collection.

 

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

 

(ii)                             if
the Initial Public Offering has occurred, then (A) through the delivery
(or attestation to ownership) of shares of Stock that have been purchased by
the Optionee on the open market or that are beneficially owned by the Optionee
and are not subject to restrictions under any plan of the Company, provided
that, to the extent required to avoid variable accounting treatment under FAS
123R or other applicable accounting rules, such surrendered shares shall have
been owned by the Optionee for at least six months, and in any event with an
aggregate Fair Market Value (as of the date of such exercise) equal to the
option purchase price, (B) by the Optionee delivering to the Company a
properly executed Exercise Notice together with irrevocable instructions to a
broker to promptly deliver to the Company cash or a check payable and
acceptable to the Company to pay the option purchase price, provided that in
the event the Optionee chooses to pay the option purchase price as so provided,
the Optionee and the broker shall comply with such procedures and enter into
such agreements of indemnity and other agreements as the Committee shall prescribe
as a condition of such payment procedure, or (C) a combination of (i),
(ii)(A) and (ii)(B) above.

 

(b)                            Certificates for the Option
Shares so purchased will be issued and delivered to the Optionee upon
compliance to the satisfaction of the Committee with all requirements under
applicable laws or regulations in connection with such issuance. Until the
Optionee shall have complied with the requirements hereof and of the Plan, the
Company shall be under no obligation to issue the Option Shares subject to this
Stock Option, and the determination of the Committee as to such compliance
shall be final and binding on the Optionee. The Optionee shall not be deemed to
be the holder of, or to have any of the rights of a holder with respect to, any
shares of Stock subject to this Stock Option unless and until this Stock Option
shall have been exercised pursuant to the terms hereof, the Company shall have
issued and delivered the Issued Shares to the Optionee, and the Optionee’s name
shall have been entered as a stockholder of record on the books of the Company.
Thereupon, the Optionee shall have full dividend and other ownership rights
with respect to such Issued Shares, subject to the terms of this Agreement.

 

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

 

4.                                      Incorporation of Plan. Notwithstanding
anything herein to the contrary, this Stock Option shall be subject to and
governed by all the terms and conditions of the Plan.

 

5.                                      Transferability of Stock
Option. This Agreement is personal to the Optionee and is not
transferable by the Optionee in any manner other than by will or by the laws of
descent and distribution. The Stock Option may be exercised during the
Optionee’s lifetime only by the Optionee (or by the Optionee’s guardian or
personal representative in the event of the

 

5

 

Optionee’s incapacity). The Optionee may elect to designate a
beneficiary by providing written notice of the name of such beneficiary to the
Company, and may revoke or change such designation at any time by filing
written notice of revocation or change with the Company; such beneficiary may exercise
the Optionee’s Stock Option in the event of the Optionee’s death to the extent
provided herein. If the Optionee does not designate a beneficiary, or if the
designated beneficiary predeceases the Optionee, the legal representative of
the Optionee may exercise this Stock Option to the extent provided herein
in the event of the Optionee’s death.

 

6.                                           Effect
of Certain Transactions.

 

(a)                             In the case of a Sale
Event, this Stock Option shall terminate upon the effective time of such Sale
Event unless provision is made in connection with such transaction, in the sole
discretion of the parties thereto, for the continuation or assumption of this
Stock Option heretofore granted, or the substitution of this Stock Option with
a new Stock Option of the successor entity or a parent thereof, with such
adjustment to the number and kind of shares and the per share exercise prices
as such parties shall agree. In the event of such a termination, the Optionee
shall be permitted, for a specified period of time prior to the consummation of
the Sale Event as determined by the Committee, to exercise all portions of the
Stock Option which are then exercisable.

 

(b)                            Notwithstanding anything to
the contrary in this Agreement or in the Plan, in the event of a Sale Event
pursuant to which holders of the Stock of the Company will receive upon consummation
thereof solely a cash payment for each share surrendered in the Sale Event, the
Company shall have the right, but not the obligation, (i) to make or
provide for a cash payment to the Optionee in respect of vested Options having
an exercise price less than the cash payable per share of Stock pursuant to the
Sale Event (the “Sale Price”), in exchange for the cancellation thereof,
an amount equal to the difference between (A) the Sale Price times the
number of shares of Stock subject to such outstanding vested Options and (B) the
aggregate exercise price of all such outstanding vested Options (such
difference, the “Spread”) and (ii) provided that the Optionee
agrees to the restriction contained in the next sentence, to make or provide
for a cash payment to the Optionee in respect of unvested Options having an
exercise price less than the Sale Price, in exchange for the cancellation
thereof, in exchange for the cancellation thereof, an amount equal to the
Spread on such unvested Options (the “Unvested Spread”). The Optionee
shall be entitled to receive the Unvested Spread only if he enters into an
agreement with the Company providing that the Unvested Spread shall be payable
only as follows: (1) if the Optionee’s Service Relationship does not
terminate prior to the next date on which all or any portion of the applicable
unvested Options would have vested pursuant to the terms of this Agreement
without regard to the provisions of this Section 6(b)(ii) (such date
and each such date thereafter, a “Vesting Date”), that portion of the
Unvested Spread that is attributable to the unvested Options that would have
vested on such Vesting Date shall be paid to the Optionee on such Vesting Date,
(2) if the Optionee’s Service Relationship is terminated by the Company
without Cause or by the Optionee for Good Reason, any remaining unpaid portion
of the Unvested Spread shall be paid to the Optionee within ten (10) days
of such termination and (3) if the Optionee’s Service Relationship is
terminated by the Company for Cause, by the Optionee without Good Reason, or by
reason of the Optionee’s death or disability (as defined in Section 422(c) of
the Code), or upon the Bankruptcy of the Optionee, no additional payment shall
be made to the Optionee after the date of such termination.

 

6

 

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

 

8.                                 Restrictions on Transfer of
Issued Shares. None of the Issued Shares acquired upon exercise
of the Stock Option shall be sold, assigned, transferred, pledged,
hypothecated, given away or in any other manner disposed of or encumbered,
whether voluntarily or by operation of law, unless such transfer is in
compliance with all applicable securities laws (including, without limitation,
the Securities Act of 1933, as amended, and the rules and regulations
thereunder (the “Act”)), and such disposition is in accordance with the
terms and conditions of Sections 8 and 9 hereof and such disposition does not
cause the Company to become subject to the reporting requirements of the
Securities Exchange Act of 1934, as amended. In connection with any transfer of
Issued Shares, the Company may require the transferor to provide at the
Optionee’s own expense an opinion of counsel to the transferor, satisfactory to
the Company, that such transfer is in compliance with all foreign, federal and
state securities laws (including, without limitation, the Act). Any attempted
disposition of Issued Shares not in accordance with the terms and conditions of
Sections 8 and 9 hereof shall be null and void, and the Company shall not
reflect on its records any change in record ownership of any Issued Shares as a
result of any such disposition, shall otherwise refuse to recognize any such disposition
and shall not in any way give effect to any such disposition of any Issued
Shares. Subject to the foregoing general provisions, Issued Shares may be
transferred pursuant to the following specific terms and conditions:

 

(a)                             Transfers to Permitted Transferees. The Optionee may sell, assign, transfer or give away any
or all of the Issued Shares to Permitted Transferees; provided, however, that such Permitted Transferee(s) shall,
as a condition to any such transfer, agree to be subject to the provisions of
this Agreement to the same extent as the Optionee (including, without
limitation, the provisions of Sections 8, 9, 11 and 12) and shall have
delivered a written acknowledgment to that effect to the Company.

 

(b)                            Transfers Upon Death.
Upon the death of the Optionee, any Issued Shares then held by the Optionee at
the time of such death and any Issued Shares acquired thereafter by the
Optionee’s legal representative pursuant to this Agreement shall be subject to
the provisions of Sections 8, 9, 10, 11 and 12, if applicable, and the Optionee’s
estate, executors, administrators, personal representatives, heirs, legatees
and distributees shall be obligated to convey such Issued Shares to the Company
or its assigns under the terms contemplated hereby.

 

7

 

 

(c)                                  Company’s Right of
First Refusal. In the event that the Optionee (or any Permitted Transferee
holding Issued Shares subject to this Section 8(c)) desires to sell or
otherwise transfer all or any part of the Issued Shares, the Optionee (or
Permitted Transferee) first shall give written notice to the Company of the
Optionee’s (or Permitted Transferee’s) intention to make such transfer. Such
notice shall state the number of Issued Shares which the Optionee (or Permitted
Transferee) proposes to sell (the “Offered Shares”), the price and the
terms at which the proposed sale is to be made and the name and address of the
proposed transferee. At any time within 30 days after the receipt of such
notice by the Company, the Company or its assigns may elect to purchase
all or any portion of the Offered Shares at the price and on the terms offered
by the proposed transferee and specified in the notice. The Company or its
assigns shall exercise this right by mailing or delivering written notice to
the Optionee (or Permitted Transferee) within the foregoing 30-day period. If
the Company or its assigns elect to exercise its purchase rights under this Section 8(c), the
closing for such purchase shall, in any event, take place within 45 days after
the receipt by the Company of the initial notice from the Optionee (or
Permitted Transferee). In the event that the Company or its assigns do not
elect to exercise such purchase right, or in the event that the Company or its
assigns do not pay the full purchase price within such 45-day period, the
Optionee (or Permitted Transferee) may, within 60 days thereafter, sell the
Offered Shares to the proposed transferee and at the same price and on the same
terms as specified in the Optionee’s (or Permitted Transferee’s) notice. Any
Shares purchased by such proposed transferee shall be deemed held by a
Permitted Transferee and accordingly shall remain subject to the terms of this
Agreement, including without limitation, the provisions of Sections 8, 9, 10,  11 and 12 below to the same extent
as if the Optionee continued to hold them. Any Shares not sold to the proposed
transferee shall remain subject to this Agreement. Notwithstanding the
foregoing, the restrictions under this Section 8(c) shall terminate
in accordance with Section 13(a).

 

9.                                      Company’s Right of
Repurchase.

 

(a)                                  Right of
Repurchase. The Company shall have the right (the “Repurchase Right”)
upon the occurrence of any of the events specified in Section 9(b) below
(the “Repurchase Event”) to repurchase from the Optionee (or any Permitted
Transferee) some or all (as determined by the Company) of the Issued Shares
held or subsequently acquired upon exercise of this Stock Option in accordance
with the terms hereof by the Optionee (or any Permitted Transferee) at the
price per share specified below. The Repurchase Right may be exercised by
the Company within the later of (i) six months following the date of such
event or (ii) seven months after the exercise of this Stock Option (the “Repurchase
Period”). The Repurchase Right shall be exercised by the Company by giving
the Optionee or any Permitted Transferee written notice on or before the last
day of the Repurchase Period of its intention to exercise the Repurchase Right,
and, together with such notice, tendering to the Optionee or Permitted
Transferee an amount equal to the Fair Market Value of the shares, determined
as provided in Section 9(c). The Company may assign the Repurchase
Right to one or more Persons. Upon such notification, the Optionee and any
Permitted Transferees shall promptly surrender to the Company any certificates
representing the Issued Shares being purchased, together with a duly executed
stock power for the transfer of such Issued Shares to the Company or the
Company’s assignee or assignees. Upon the Company’s or its assignee’s receipt
of the certificates from the Optionee or any Permitted Transferees (or at such
later date as is determined necessary by the Committee to avoid any breach by
the Company of any agreement to which it is

 

8

 

a
party), the Company or its assignee or assignees shall deliver to him, her or
them a check for the Repurchase Price of the Issued Shares being purchased; provided,
however, that the Company
may pay the Repurchase Price for such shares by offsetting and canceling
any indebtedness then owed by the Optionee to the Company. At such time, the
Optionee and/or any holder of the Issued Shares shall deliver to the Company
the certificate or certificates representing the Issued Shares so repurchased,
duly endorsed for transfer, free and clear of any liens or encumbrances. The
Repurchase Right shall terminate in accordance with Section 13(a).

 

(b)                                      Company’s
Right to Exercise Repurchase Right.
The Company shall have the Repurchase Right in the event that any of the
following events shall occur:

 

(i)                                The termination of the Optionee’s Service
Relationship with the Company and its Subsidiaries for any reason whatsoever,
regardless of the circumstances thereof, and including without limitation upon
death, disability, retirement, discharge or resignation for any reason, whether
voluntarily or involuntarily; or

 

(ii)                             The Optionee’s or Permitted Transferee’s
Bankruptcy.

 

(c)                                  Determination of
Fair Market Value. The Fair Market
Value of the Issued Shares shall be, for purposes of this Section 9,
determined by the Board as of the date the Board elects to exercise its
repurchase rights in connection with a Repurchase Event.

 

10.                               Escrow Arrangement.

 

(a)                                       Escrow. In order to carry out the provisions of
Sections 8, 9 and 11 of this Agreement more effectively, the Company shall hold
any Issued Shares in escrow together with separate stock powers executed by the
Optionee in blank for transfer, and any Permitted Transferee shall, as an
additional condition to any transfer of Issued Shares, execute a like stock
power as to such Issued Shares. The Company shall not dispose of the Issued
Shares except as otherwise provided in this Agreement. In the event of any
repurchase by the Company (or any of its assigns), the Company is hereby
authorized by the Optionee and any Permitted Transferee, as the Optionee’s and
each such Permitted Transferee’s attorney-in-fact, to date and complete the
stock powers necessary for the transfer of the Issued Shares being purchased
and to transfer such Issued Shares in accordance with the terms hereof. At such
time as any Issued Shares are no longer subject to the Company’s repurchase,
first refusal and drag along rights, the Company shall, at the written request
of the Optionee, deliver to the Optionee (or the relevant Permitted Transferee)
a certificate representing such Issued Shares with the balance of the Issued
Shares to be held in escrow pursuant to this Section 10.

 

(b)                                      Remedy. Without limitation of any other provision of
this Agreement or other rights, in the event that the Optionee, any Permitted
Transferees or any other person or entity is required to sell the Optionee’s
Issued Shares pursuant to the provisions of Section 8, 9 and 11 of this
Agreement and in the further event that he or she refuses or for any reason
fails to deliver to the Company or its designated purchaser of such Issued
Shares the certificate or certificates evidencing such Issued Shares together
with a related stock power, the Company or such designated purchaser may deposit
the applicable purchase price for such Issued Shares with a bank designated by
the Company, or with the Company’s independent public accounting firm,

 

9

 

as agent or trustee, or in escrow, for the Optionee, any Permitted
Transferees or other person or entity, to be held by such bank or accounting
firm for the benefit of and for delivery to him, her, them or it, and/or, in
its discretion, pay such purchase price by offsetting any indebtedness then owed
by the Optionee as provided above. Upon any such deposit and/or offset by the
Company or its designated purchaser of such amount and upon notice to the
person or entity who was required to sell the Issued Shares to be sold pursuant
to the provisions of Sections 8, 9 and 11, such Issued Shares shall at such
time be deemed to have been sold, assigned, transferred and conveyed to such
purchaser, the holder thereof shall have no further rights thereto (other than
the right to withdraw the payment thereof held in escrow, if applicable), and
the Company shall record such transfer in its stock transfer book or in any
appropriate manner.

 

11.                          Drag Along Right. In the event
the holders of a majority of the Company’s equity securities then outstanding
(the “Majority Shareholders”) determine to sell or otherwise dispose of
all or substantially all of the assets of the Company or all or fifty percent
(50%) or more of the capital stock of the Company in each case in a transaction
constituting a change in control of the Company, to any non-Affiliate(s) of
the Company or any of the Majority Shareholders, or to cause the Company to
merge with or into or consolidate with any non-Affiliate(s) of the Company
or any of the Majority Shareholders (in each case, the “Buyer”) in a bona fide negotiated transaction (a “Sale”),
the Optionee, including any Permitted Transferees, shall be obligated to and
shall upon the written request of a Majority Shareholders (a) sell,
transfer and deliver, or cause to be sold, transferred and delivered, to the
Buyer, his or her Issued Shares on substantially the same terms applicable to
the Majority Shareholders (with appropriate adjustments to reflect the
conversion of convertible securities, the redemption of redeemable securities
and the exercise of exercisable securities as well as the relative preferences
and priorities of preferred stock); and (b) execute and deliver such
instruments of conveyance and transfer and take such other action, including
voting such Issued Shares in favor of any Sale proposed by the Majority
Shareholders and executing any purchase agreements, merger agreements,
indemnity agreements, escrow agreements or related documents, as the Majority
Shareholders or the Buyer may reasonably require in order to carry out the
terms and provisions of this Section 11. The obligations under this Section 11
shall terminate in accordance with Section 13(a).

 

12.                          Lockup Provision. The Optionee
agrees, if requested by the Company and any underwriter engaged by the Company,
not to sell or otherwise transfer or dispose of any securities of the Company
(including, without limitation, pursuant to Rule 144 under the Act) held
by him or her for (a) one hundred eighty (180) days following the
effective date of the relevant registration statement filed under the Act in
connection with the Company’s Initial Public Offering, or (b) ninety (90)
days following the effective date of the relevant registration statement in
connection with any other public offering of Stock, as the Company and such
underwriter shall specify reasonably and in good faith. Notwithstanding the
foregoing, if: (x) during the last 17 days of the foregoing 180-day period
or 90-day period, as applicable, the Company issues an earnings release or
material news or a material event relating to the Company occurs; or (y) prior
to the expiration of the 180-day period or 90-day period, as applicable, the
Company announces that it will release earnings results during the 16-day
period beginning on the last day of the period, then the restrictions described
above shall continue to apply until the expiration of an 18-day period
beginning on the issuance of the earnings release or the occurrence of the
material news or material event. The Optionee agrees, if requested by the

 

10

 

underwriter engaged by the Company, to execute a separate letter
reflecting the agreement set forth in this Section 12.

 

13.                                    Miscellaneous
Provisions.

 

(a)                             Termination. The
Company’s repurchase rights under Section 9, the restrictions on transfer
of Issued Shares under Section 8 and the Drag Along obligations under Section 11
shall terminate upon the closing of the Company’s Initial Public Offering, or
upon consummation of any Sale Event, in either case, as a result of which shares
of the Company (or successor entity) of the same class as the Issued
Shares are registered under Section 12 of the Exchange Act and publicly
traded on NASDAQ/NMS or any national security exchange.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

11

 

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

 

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

 

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

 

The parties covenant and agree that they will
participate in the arbitration in good faith. This Section 13(j) applies
equally to requests for temporary, preliminary or permanent injunctive relief,
except that in the case of temporary or preliminary injunctive relief any party
may proceed in court without prior arbitration for the limited purpose of
avoiding immediate and irreparable harm.

 

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

 

12

 

which may be called upon to grant an enforcement of the judgment
of any such court. Each of the parties hereto hereby consents to service of
process by registered mail at the address to which notices are to be given.
Each of the parties hereto agrees that its, his or her submission to
jurisdiction and its, his or her consent to service of process by mail is made
for the express benefit of the other parties hereto. Final judgment against any
party hereto in any such action, suit or proceeding may be enforced in
other jurisdictions by suit, action or proceeding on the judgment, or in any
other manner provided by or pursuant to the laws of such other jurisdiction.

 

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

 

[SIGNATURE PAGE FOLLOWS]

 

13

 

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

 

	
   

  	
  OPEN LINK FINANCIAL, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  Address:

  
	
   

  	
   

  
	
   

  	
  Open Link Financial

  Services, Inc.

  
	
   

  	
  1502 Reckson Plaza

  
	
   

  	
  West Tower -15th Floor

  Uniondale, NY 11556-1502

  

 

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

 

	
   

  	
  OPTIONEE:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Name: 

  
	
   

  	
   

  
	
   

  	
  Address:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  [SPOUSE’S CONSENT

  	
   

  
	
  I acknowledge that I have read the foregoing Non-Qualified Stock
  Option Agreement and understand the contents thereof.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  ]

  	
   

  
			

 

14

 

	
   

  	
  DESIGNATED BENEFICIARY:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Beneficiary’s Address:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  

 

15

 

Appendix
A

STOCK
OPTION EXERCISE NOTICE

 

Open Link Financial, Inc.

Attention: Chief Financial Officer

1502 Reckson Plaza

West Tower -15th Floor

Uniondale, NY 11556-1502

 

Pursuant to the terms of my stock option
agreement dated                (the “Agreement”) under the
Open Link Financial, Inc. 2006 Stock Option and Grant Plan, I, [Insert
Name]                       
, hereby [Circle One] partially/fully exercise such option by including herein
payment in the amount of $               representing
the purchase price for [Fill in number of Option Shares]           
option shares. I have chosen the following form(s) of payment:

 

o                                    1.                                       Cash

 

o                                    2.                                       Certified
or bank check payable to Open Link Financial, Inc.

 

o                                    3.                                       Other
(as described in the Agreement (please describe))

 

                                                                                                                                                                                                                       .

 

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

 

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

 

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

 

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

 

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

 

(v)                            I
understand that the option shares may not be registered under the
Securities Act of 1933 or any applicable state securities or “blue sky” laws
and may not be sold or otherwise transferred or disposed of in the absence
of an effective registration statement under the Securities Act of 1933 and
under any applicable state securities or “blue sky” laws (or exemptions from
the registration requirement thereof). I further

 

16

 

acknowledge that certificates representing option shares will bear
restrictive legends reflecting the foregoing.

 

	
   

  	
  Sincerely yours,

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
   

  
	
   

  	
  Address:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  

 

17

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00142-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00142-of-00352.parquet"}]]