Document:

Form of option award agreement under the 2007 Long Term Equity Incentive Plan

 Exhibit 10.62 
 FORM OF [NON-QUALIFIED] [INCENTIVE] STOCK 
 OPTION AWARD AGREEMENT 
 [Neutral Tandem, Inc. Letterhead] 
                      ,           
                                  
                                  
                                  
                                  
  

	 	Re:	Grant of [Non-Qualified] [Incentive] Stock Option 

 Dear
                                : 
 Neutral Tandem, Inc. (the “Company”) is pleased to advise you that, pursuant to the Company’s 2007 Long-Term Equity Incentive Plan
(the “Plan”), the Committee has granted to you an option (the “Option”) to acquire shares of Common Stock, as set forth below, subject to the terms and conditions set forth herein: 
  

			
	Number of Option Shares:	  	                                
		
	Date of Grant:	  	                                
		
	Exercise Price per Option Share:	  	                                
		
	Vesting Dates of Option Shares:	  	                                
		
		  	                                
		
		  	                                
		
		  	                                
		
	Expiration Date of All Option Shares:	  	                                

 [The Option is not intended to be an “incentive stock option” within the meaning of
Section 422 of the Code.] [The Option is intended to be an “incentive stock option” within the meaning of Section 422 of the Code. If the Option does not qualify as such for any reason, then to the extent of such
non-qualification, the Option shall be regarded as a non-qualified stock option.] 
 Any capitalized terms used herein and not defined
herein have the meaning set forth in the Plan. 
 1. Option. 
 (a) Term. Subject to the terms and conditions set forth herein, the Company hereby grants to you (or such other persons as
permitted by paragraph 5) an Option to purchase the Option Shares at the exercise price per Option Share set forth above in the introductory 

 
paragraph of this letter agreement (the “Exercise Price”), payable upon exercise as set forth in paragraph 1(b) below. The Option shall
expire at the close of business on the date set forth above in the introductory paragraph of this letter agreement (the “Expiration Date”), which is the tenth anniversary of the date of grant set forth above in the introductory
paragraph of this letter agreement (the “Grant Date”), subject to earlier expiration as provided under the Plan should your employment or service with the Company or a Subsidiary terminate. The Exercise Price and the number and kind
of shares of Common Stock or other property for which the Option may be exercised shall be subject to adjustment as provided under the Plan. For purposes of this letter agreement, “Option Shares” mean (i) all shares of Common
Stock issued or issuable upon the exercise of the Option and (ii) all shares of Common Stock issued with respect to the Common Stock referred to in clause (i) above by way of stock dividend or stock split or in connection with any
conversion, merger, consolidation or recapitalization or other reorganization affecting the Common Stock. 
 (b) Payment of
Option Price. Subject to paragraph 2 below, the Option may be exercised in whole or in part upon payment of an amount (the “Option Price”) equal to the product of (i) the Exercise Price and (ii) the number of Option
Shares to be acquired. Payment of the Option Price shall be made as provided under the Plan. 
 2. Exercisability/Vesting and
Expiration. 
 (a) Normal Vesting. The Option granted hereunder may be exercised only to the extent it has become
vested. The Option shall vest in as indicated by the vesting dates of Option Shares set forth in the introductory paragraph of this letter agreement. 
 (b) Normal Expiration. In no event shall any part of the Option be exercisable after the Expiration Date. 
 (c) Effect on Vesting and Expiration of Employment Termination. Notwithstanding paragraphs 2(a) and (b) above, the special vesting and expiration rules set forth in the Plan shall apply if your employment
or service with the Company or a Subsidiary terminates prior to the Option becoming fully vested and/or prior to the Expiration Date. 
 3.
Procedure for Exercise. You may exercise all or any portion of the Option, to the extent it has vested and is outstanding, at any time and from time to time prior to the Expiration Date, by delivering written notice to the Company in the form
attached hereto as Exhibit A, together with payment of the Option Price in accordance with the provisions set forth in the Plan. The Option may not be exercised for a fraction of an Option Share. 
 4. Withholding of Taxes. 
 (a) Participant Election. Unless otherwise determined by the Committee, you may elect to deliver shares of Common Stock (or have the Company withhold Option Shares acquired upon exercise of the Option) to satisfy, in whole or in
part, the amount the Company is required to withhold for taxes in connection with the exercise of the Option. Such election must be made on or before the date the amount of tax to be withheld is determined. Once made, the 

  

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election shall be irrevocable. The fair market value of the shares to be withheld or delivered will be the Fair Market Value as of the date the amount of tax
to be withheld is determined. 
 (b) Company Requirement. The Company, to the extent permitted or required by law,
shall have the right to deduct from any payment of any kind (including salary or bonus) otherwise due to you, an amount equal to any federal, state or local taxes of any kind required by law to be withheld with respect to the delivery of Option
Shares under this letter agreement. 
 5. Transferability of Option. You may transfer the Option granted hereunder only by will or the
laws of descent and distribution or to any of your Family Members by gift or a qualified domestic relations order as defined by the Code. Unless the context requires otherwise, references herein to you are deemed to include any permitted transferee
under this paragraph 5. The Option may be exercised only by you; by your Family Member if such person has acquired the Option by gift or qualified domestic relations order; by the executor or administrator of the estate of any of the foregoing
or any person to whom the Option is transferred by will or the laws of descent and distribution; or by the guardian or representative of any of the foregoing; provided that Incentive Stock Options may be exercised by any guardian or legal
representative only if permitted by the Code and any regulations thereunder. 
 6. Conformity with Plan. The Option is intended to
conform in all respects with, and is subject to all applicable provisions of, the Plan (which is incorporated herein by reference). Inconsistencies between this letter agreement and the Plan shall be resolved in accordance with the terms of the
Plan. By executing and returning the enclosed copy of this letter agreement, you acknowledge your receipt of this letter agreement and the Plan and agree to be bound by all of the terms of this letter agreement and the Plan. 
 7. Rights of Participants. Nothing in this letter agreement shall interfere with or limit in any way the right of the Company to terminate your
employment or other performance of services at any time (with or without Cause), nor confer upon you any right to continue in the employ or as a director or officer of, or in the performance of other services for, the Company or a Subsidiary for any
period of time, or to continue your present (or any other) rate of compensation or level of responsibility. Nothing in this letter agreement shall confer upon you any right to be selected again as a Plan participant. 
 8. Amendment or Substitution of Option. The terms of the Option may be amended from time to time by the Committee in its discretion in any manner
that it deems appropriate (including, but not limited to, acceleration of the date of exercise of the Option); provided that no such amendment shall adversely affect in a material manner any of your rights under the award without your written
consent. 
 9. Successors and Assigns. Except as otherwise expressly provided herein, all covenants and agreements contained in this
letter agreement by or on behalf of any of the parties hereto shall bind and inure to the benefit of the respective successors and permitted assigns of the parties hereto whether so expressed or not. 
  

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 10. Severability. Whenever possible, each provision of this letter agreement shall be interpreted
in such manner as to be effective and valid under applicable law, but if any provision of this letter agreement is held to be prohibited by or invalid under applicable law, such provision shall be ineffective only to the extent of such prohibition
or invalidity, without invalidating the remainder of this letter agreement. 
 11. Counterparts. This letter agreement may be executed
simultaneously in two or more counterparts, each of which shall constitute an original, but all of which taken together shall constitute one and the same letter agreement. 
 12. Descriptive Headings. The descriptive headings of this Agreement are inserted for convenience only and do not constitute a part of this
Agreement. 
 13. Governing Law. THE VALIDITY, CONSTRUCTION, INTERPRETATION, ADMINISTRATION AND EFFECT OF THE PLAN, AND OF ITS RULES
AND REGULATIONS, AND RIGHTS RELATING TO THE PLAN AND TO THIS LETTER AGREEMENT, SHALL BE GOVERNED BY THE SUBSTANTIVE LAWS, BUT NOT THE CHOICE OF LAW RULES, OF THE STATE OF DELAWARE. 
 14. Notices. All notices, demands or other communications to be given or delivered under or by reason of the provisions of this letter agreement
shall be in writing and shall be deemed to have been given when (i) delivered personally, (ii) mailed by certified or registered mail, return receipt requested and postage prepaid, (iii) sent by facsimile or (iv) sent by
reputable overnight courier, to the recipient. Such notices, demands and other communications shall be sent to you at the address specified in this letter agreement and to the Company at One South Wacker Drive, Suite 200, Chicago, Illinois, 60606,
Attn: Chief Financial Officer, or to such other address or to the attention of such other person as the recipient party has specified by prior written notice to the sending party. 
 15. Entire Agreement. This letter agreement and the terms of the Plan constitute the entire understanding between you and the Company, and
supersede all other agreements, whether written or oral, with respect to your acquisition of the Option Shares. 
 *    *    *    *    * 
  

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 Signature Page to Stock Option Award Agreement 
 Please execute the extra copy of this letter agreement in the space below and return it to the Company to confirm your understanding and acceptance of
the agreements contained in this letter agreement. 
  

			
	 Very truly yours,
  
 NEUTRAL TANDEM, INC.

		
	By:	 	 
		
	Name:	 	 
		
	Title:	 	 

  

	Enclosures:	Extra copy of this letter agreement
 Copy of the Plan 

 The undersigned hereby acknowledges having read this letter agreement and the Plan and hereby agrees to be bound by all provisions set forth herein and in the Plan. 

	
	OPTIONEE
	
	  
	

 Dated as of:
                                 
  

 EXHIBIT A 
 Form of Letter to be Used to Exercise Stock Option 
 ________________ 
 Date 
 ________________ 
 ________________ 
 ________________ 
 Attention:
                                  
 I wish to exercise the stock option granted on
                                 and evidenced by a Stock Option Award
Agreement dated as of                                 , to acquire
                 shares of Common Stock of                 ,
at an option price of $         per share. In accordance with the provisions of paragraph 1 of the Stock Option Award Agreement, I wish to make payment of the exercise price (please check all that
apply): 
  

	 	 ̈	in cash 

  

	 	 ̈	by delivery of shares of Common Stock held by me 

  

	 	 ̈	by simultaneous sale through a broker 

 Please issue a
certificate for these shares in the following name: 

	
	  
	 Name
  

	Address

  

	
	Very truly yours,
	  
	 Signature
  

	 Typed or Printed Name
  

	 Social Security NumberForm of restricted stock award agreement

 Exhibit 10.63 
 FORM OF RESTRICTED STOCK GRANT AGREEMENT 
 [Date] 
 [Grantee] [Address] 
  
  

	 	Re:	Neutral Tandem, Inc. Grant of Restricted Stock 

 Dear
[Grantee]: 
 Neutral Tandem, Inc. (the “Company”) is pleased to advise you that, pursuant to the Company’s 2007 Long-Term
Equity Incentive Plan (the “Plan”), the Company’s Compensation Committee has approved the issuance of shares of the Company’s Common Stock, par value $0.001 per share, to you as set forth below (the “Restricted
Shares”), subject to the terms and conditions set forth herein. Upon payment to the Company by you of the aggregate par value thereof, which payment shall be made within 10 days of the date hereof, the Restricted Shares shall be fully paid and
nonassessable. Capitalized terms used herein but not defined herein shall have the meanings ascribed to such terms in the Plan. 
  

			
	Original Grant Date:	  	[Date]
		
	Total Number of Restricted Shares:	  	[Number]
		
	Vesting Dates and Number of Restricted Shares that shall vest:	  	[Date] [Number]                                    

 1. Conformity with Plan. The grant of Restricted Shares is intended to conform in all
respects with, and is subject to all applicable provisions of, the Plan (which is incorporated herein by reference). Inconsistencies between this Agreement and the Plan shall be resolved in accordance with the terms of the Plan. By executing and
returning the enclosed copy of this Agreement, you acknowledge your receipt of this Agreement and the Plan and agree to be bound by all of the terms of this Agreement and the Plan. 
 2. Rights of Participants. Nothing in the Agreement or in any grant thereunder shall confer any right on a participant to continue in the service
or employ as a director or officer of or in the performance of services for the Company or a Subsidiary or shall interfere in any way with the right of the Company or a Subsidiary to terminate the employment or performance of services or to reduce
the compensation or responsibilities of a participant at any time. 
 3. Remedies. The parties hereto shall be entitled to enforce
their rights under this Agreement specifically, to recover damages by reason of any breach of any provision of this Agreement and to exercise all other rights existing in their favor. The parties hereto acknowledge and agree that money damages would
not be an adequate remedy for any breach of the provisions of this Agreement and that any party hereto may, in its sole discretion, apply to any court of law or equity of competent jurisdiction for specific performance and/or injunctive relief

 
(without posting bond or other security) in order to enforce or prevent any violation of the provisions of this Agreement. 
 4. Successors and Assigns. Except as otherwise expressly provided herein, all covenants and agreements contained in this Agreement by or on behalf
of any of the parties hereto shall bind and inure to the benefit of the respective successors and permitted assigns of the parties hereto whether so expressed or not. 
 5. Severability. Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be
prohibited by or invalid under applicable law, such provision shall be ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of this Agreement. 
 6. Counterparts. This Agreement may be executed simultaneously in two or more counterparts, each of which shall constitute an original, but all of
which taken together shall constitute one and the same Agreement. 
 7. Descriptive Headings. The descriptive headings of this
Agreement are inserted for convenience only and do not constitute a part of this Agreement. 
 8. Governing Law. THE VALIDITY,
CONSTRUCTION, INTERPRETATION, ADMINISTRATION AND EFFECT OF THE PLAN, AND OF ITS RULES AND REGULATIONS, AND RIGHTS RELATING TO THE PLAN AND TO THIS AGREEMENT, SHALL BE GOVERNED BY THE SUBSTANTIVE LAWS, BUT NOT THE CHOICE OF LAW RULES, OF THE STATE OF
DELAWARE. 
 9. Notices. All notices, demands or other communications to be given or delivered under or by reason of the provisions of
this Agreement shall be in writing and shall be deemed to have been given when delivered personally or mailed by certified or registered mail, return receipt requested and postage prepaid, to the recipient. Such notices, demands and other
communications shall be sent to you at the address appearing on the first page of this Agreement and to the Company at Neutral Tandem, Inc., One South Wacker Drive, Suite 200, Chicago, Illinois 60606, Attn: Chief Financial Officer, or to such other
address or to the attention of such other person as the recipient party has specified by prior written notice to the sending party. 
 10.
Entire Agreement. This Agreement and the terms of the Plan constitute the entire understanding between you and the Company, and supersede all other agreements, whether written or oral, with respect to your Restricted Shares. 
 **** 
  

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 SIGNATURE PAGE TO RESTRICTED STOCK GRANT AGREEMENT 
 Please execute the extra copy of this Agreement in the space below and return it to the Chief Financial Officer at Neutral Tandem, Inc. to confirm your
understanding and acceptance of the agreements contained in this Agreement. 
  

			
	 Very truly yours,
  
  
 NEUTRAL TANDEM, INC.

		
	By:	 	 

			
		
	Name:	 	 

			
		
	Title:	 	 

  

			
	Enclosures:        	  	Extra copy of this Agreement
		  	Copy of the Plan

 The undersigned hereby acknowledges having read this Agreement and the Plan and hereby agrees to
be bound by all provisions set forth herein and in the Plan. 
 Dated as of [Date] 
  

			
		
		 	 
		 	[Grantee]

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