Document:

exv10w2

 

Exhibit 10.2

Parsons Advanced Holdings, Inc.

Stock Option Plan

     This Parsons Advanced Holdings, Inc. Stock Option Plan (the “Plan”) sets forth the terms and
conditions of the non-qualified employee stock option plan of Parsons Advanced Holdings, Inc.
(“PAH”), an Arizona corporation. The term “Employee,” as used herein, includes employees of PAH
and any of its related entities.

     1. Purpose: PAH, through its Board of Directors (the “Board”), has determined
that in
order to attract and retain employees, to provide additional incentive to Employees
of PAH, and to
promote the success of PAH’s business, it must offer a compensation package that
provides
Employees a chance to participate financially in the success of PAH by owning an
interest in the
equity of PAH.

          1.1 The Plan: As part of its compensation package, PAH has adopted effective as
of July 16, 2002, the Parsons Advanced Holdings, Inc. 2002 Stock Option Plan
pursuant to resolution
of the Board. Going forward, Employees who participated in the
Go Daddy
Software, Inc 2000 Stock Option Plan will be deemed to be participants in this Plan
at the same level
of participation held in the Go Daddy Software, Inc 2000 Stock Option Plan as set
forth in Section 5
of that plan. New options granted will be issued pursuant to the terms and
conditions of this Plan as
set forth in detail herein.

          1.2 Terms: By this Plan, PAH and the Employee desire to establish the terms upon
which PAH is willing to grant to the Employee, and upon which the Employee is
willing to accept
from PAH, an option to purchase shares of common stock of PAH (the “Shares”).

     2. Grant of Option: PAH grants to the Employee stock option (the “Option”) to
purchase
Shares subject to the terms of both the separate Stock Option Agreement and the
Plan. The Option is
not intended to be and shall not be treated as an incentive stock option under
Section 422 of the
Internal Revenue Code of 1986, as amended.

	 	3.	 	Vesting Schedule and Expiration. For purposes of
determining vesting under this Plan,
the start date for vesting of the Option shall be the Date of Option Grant
(“Vesting Start
Date”). This Option is not exercisable in any part until one year after
the Vesting Start
Date. Subject to Section 4 of this Plan, upon the expiration of one year
after the Vesting
Start Date and subject to the provisions of this Plan for termination and
acceleration, this
Option shall become exercisable in installments as follows:

 

 

	 	(a)	 	After the first and before the second anniversary of the Vesting
Start Date of
this Option, the Option may be exercised with respect to not more
than 25 % of
the Shares subject to this Plan;
	 
	 	(b)	 	After the second and before the third
anniversary of the Vesting Start Date of
this Option, the Option may be exercised with respect to not more
than 50% of
the Shares subject to this Plan;
	 
	 	(c)	 	After the third and before the fourth
anniversary of the Vesting Start Date of
this Option, the Option may be exercised with respect to not more
than 75 % of
the Shares subject to this Plan;
	 
	 	(d)	 	After the fourth anniversary of the Vesting
Start Date of this Option and until
the expiration date of the Option, the Option may be exercised with
respect to
100% of the Shares subject to this Plan.

Upon the expiration of four years after the Vesting Start Date this Option may be
exercised as to all optioned shares for which it had not previously been exercised,
until and including the expiration date of this Option whereupon the Option shall
expire and may thereafter no longer be exercised.

     4. Limitations On Exercise Of Option. The right to exercise this Option is
subject to the following additional restrictions and limitations:

          4.1 Conditions to Exercise of Option: Notwithstanding any other provision of
this Plan, no Option may be exercised prior to the occurrence of one of the following
events:

	 	(a)	 	The common stock of PAH is listed and
publicly traded on any stock exchange
within the United States; or
	 
	 	(b)	 	The sale or reorganization of PAH.

For purposes of Section 4. 1(b), a sale or reorganization of PAH will have occurred
under the following circumstances: upon the dissolution or liquidation of PAH; upon a
reorganization, merger or consolidation of PAH as a result of which the securities of
PAH are changed into or exchanged for property (including cash), rights or securities
not of PAH’s issue, or any combination thereof; upon the acquisition by another
corporation or person of more than eighty percent (80%) of the voting power of the
stock of PAH then outstanding; or upon the sale to another corporation or person of
more than eighty percent (80%) of the assets of PAH.

For purposes of Section 4. 1(b), a sale or reorganization of PAH will not have occurred
upon a reorganization, merger or consolidation of PAH or any of its related entities
wherein the stock or assets of PAH are exchanged exclusively for the stock or assets of
any of its related entities, or transferred to a trust whose grantor is the controlling
stockholder of PAH or any of its related entities.

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          4.2 Termination of Employment. If the Employee’s employment by PAH is
terminated for any reason, including the death of the Employee, no portion of the
Shares subject to the
Option at the time of such termination of employment may thereafter vest. If the
conditions precedent
to exercise of an Option as provided in Section 4.1 have been satisfied, the Option
with respect to
Shares which are vested at the time of the termination of employment may be
exercised within 30 days
of the date of termination of employment. The Employee’s legal representative
(including the persons
entitled to do so under the Employee’s last will or under applicable intestate
laws) may act on behalf
of the Employee to exercise the Option with respect to the vested Shares. The
Option with respect to
Shares which are not vested on the date of termination of employment shall lapse on
the date of the
termination of employment. The Option with respect to vested Shares shall lapse
after 30 days from
the date of the termination of employment if the conditions of Section 4.1 are not
satisfied prior to that date.

          4.3 Continuity of Employment. This Option shall not be exercisable in any part
during the Employee’s lifetime unless at all times beginning with the date of grant
and ending no more
than three months prior to the date of exercise the Employee has, except for
military service leave,
sick leave or other bona fide leave of absence (such as temporary employment by the
United States
Government), been in the continuous employ of PAH or any of its related entities,
except that such
period of three months shall be extended to include any period of time during which
the Employee is
subject to a permanent and total disability.

          4.4 Conviction of Felony: The right to purchase Shares under this option Plan,
including vested rights, shall be suspended and may not be exercised upon the
arrest of the Employee
on a criminal charge classified as a felony. The suspension shall terminate upon
the dismissal of the
felony charge or acquittal by a court of competent jurisdiction. This Option Plan
and all of the rights
of the Employee to purchase Shares, whether or not such rights are vested, shall
terminate upon the
conviction of the Employee by any court of competent jurisdiction of any crime
classified as a felony.

     5. Adjustments. Subject to the provisions of the Plan under which this Option is
granted,
if the outstanding shares of stock of the class then subject to this Option are
increased or decreased, or
are changed into or exchanged for a different number or kind of shares or
securities or other forms of
property (including cash) or rights, as a result of one or more reorganizations,
recapitalizations, spinoffs, stock splits, reverse stock splits, stock dividends or the like, appropriate
adjustments shall be
made in the number and/or kind of shares or securities or other forms of property
(including cash) or
rights for which this Option may thereafter be exercised, all without any change in
the aggregate
exercise price applicable to the unexercised portions of this Option, but with a
corresponding
adjustment in the exercise price per share or other unit. No fractional share of
stock shall be issued
under this Option or in connection with any such adjustment. Such adjustments
shall be made by or
under authority of the Board whose determinations as to what adjustments shall be
made, and the
extent thereof, shall be final, binding and conclusive.

     6. Exercise, Payment for and Delivery of Stock. This Option may be exercised by the
Employee or other person then entitled to exercise it by giving four business days’
written notice of
exercise to PAH specifying the number of shares to be purchased and the total
purchase price,
accompanied by a check to the order of PAH in payment of such price. If PAH is
required to
withhold on account of any federal, state or local tax imposed as a result of such
exercise, the notice

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of exercise shall also be accompanied by a check to the order of PAH in payment of the
amount thus required to be withheld.

     7. Rights in Stock Before Issuance and Delivery. No person shall be entitled to
the privileges of stock ownership in respect of any shares issuable upon exercise of
this Option, unless
and until such shares have been issued to such person as fully paid shares.

     8. Requirements of Law. By accepting this Option, the Employee represents and
agrees for himself or herself and his or her transferees by last will or the laws of
descent and distribution
that, unless a registration statement under the Securities Act of 1933 is in
effect as to shares purchased
upon any exercise of this Option, (i) any and all shares so purchased shall be
acquired for his or her
personal account and not with a view to or for sale in connection with any
distribution, and (ii) each
notice of the exercise of any portion of this Option shall be accompanied by a
representation and
warranty in writing, signed by the person entitled to exercise the same, that the shares are being so
acquired in good faith for his or her personal account and not with a view to or
for sale in connection
with any distribution. No certificate or certificates for shares of stock
purchased upon exercise of this
Option shall be issued and delivered unless and until, in the opinion of legal
counsel for PAH, such
securities may be issued and delivered without causing PAH to be in violation of
or incur any liability
under any federal, state or other securities law or any other requirement of law
or of any regulatory
body having jurisdiction over PAH.

     9. Purchase of Option By PAH. At any time prior to the time that the Employee
exercises
the Option, PAH has the right, exercisable at its discretion, to cancel and
purchase this Option for an
amount equal to the excess, if any, of the Fair Market Value (as defined in the
Plan) of the stock
subject to this Option over its exercise price on the date PAH exercises such
right. PAH’s right to
cancel and purchase the Option under this Section is exercised when PAH gives
written notice to the
Employee of the cancellation and purchase of the Option under this Section,
specifying the Fair
Market Value of the stock on the basis of which payment is to be made and a date,
not later than the
Option’s expiration date, on which the purchase price is to be paid.

     10. Subject to the Plan. This Option is subject to, and PAH and the Employee agree
to be bound by, all of the terms and conditions of the Plan under which this Option was
granted, as the
same may have been amended from time to time in accordance with its terms,
provided that no such
amendment shall deprive the Employee, without the Employee’s consent, of this
Option or of any
rights hereunder. Pursuant to the Plan, the Board PAH or its Committee
established for such
purposes is vested with conclusive authority to interpret and construe the Plan
and this Option, and is
authorized to adopt rules and regulations for carrying out the Plan. A copy of the
Plan in its present
form is available for inspection during business hours by the Employee or other
persons entitled to
exercise this Option at PAH’s principal office.

     11. Notices. Any notice to be given to PAH shall be addressed to PAH in care of
its General Counsel at its principal office, and any notice to be given to the
Employee shall be addressed
to the Employee at the address set forth beneath the Employee’s signature on The
Stock Option
Agreement or at such other address as the Employee may designate in writing to PAH.
Any such
notice shall be deemed duly given when enclosed in a properly sealed envelope or
wrapper addressed
as aforesaid, registered or certified, and deposited, postage and registry or
certification fees prepaid,
in a post office or branch post office regularly maintained by the United States
Postal Service.

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     12. Rules of Construction. This Plan has been executed and delivered by PAH in
Arizona
and shall be construed and enforced in accordance with the laws of Arizona, other
than any choice of
law rules calling for the application of laws of another jurisdiction. Should
there be any inconsistency
or discrepancy between the provisions of this Option and the terms and conditions
of the Plan under
which this Option is granted, the provisions in the Plan shall govern and prevail.
The Board is vested
with conclusive authority to interpret and construe the Plan, the Option, and the
Stock Option
Agreement, and is authorized to adopt rules and regulations for carrying out the
Plan. The provisions
of the Stock Option Agreement are expressly incorporated herein and made an
integral part hereof as
though set forth herein.

     13. No Effect on Employment Relationship. The receipt of this Option does not give
the Employee any right to continued employment by PAH or a related entity for any
period, nor shall the
granting of this Option or the issuance of shares on exercise thereof give PAH or
any related entity
any right to the continued services of the Employee for any period.

     14. Employee Not A Shareholder. The Employee shall not be deemed for any purposes
to be a shareholder of PAH with respect to any of the Optioned Shares except to the
extent that the
Option herein granted shall have been exercised, PAH shall have issued and
delivered the shares of
Common Stock to the Employee, and the Employee’s name is entered as a stockholder
of record on
the books of PAH.

     15. Withholding Taxes. If applicable, the Employee shall be required to pay to
PAH, the
amount of any such federal, state and local income taxes and other amounts as PAH
may be required
to withhold with respect to the Common Stock issued upon exercise of an Option.
If the Employee is
to experience a taxable event in connection with the receipt of the Common Stock
pursuant to the
exercise of an Option, the Employee shall pay the withholding taxes to PAH prior
to the issuance, or
release from escrow, of such Common Stock. In satisfaction of the obligation to
pay withholding
taxes to PAH, the Employee may make a written election, which may be accepted or
rejected in the
discretion of the Board, to have withheld a portion of the Common Stock then
issuable to him having
an aggregate Fair Market Value on the date preceding the date of such issuance,
equal to the
withholding taxes.

     16. Securities Act.

          16.1 Registration. If at any time the Board determines, in its discretion, that
the listing, registration or qualification of the Shares issuable pursuant to this
Plan is required by any
securities exchange or under any state or federal law, or the consent or approval
of any governmental
regulatory body is necessary or desirable as a condition of, or in connection
with, the grant of the
Option or the issuance of the Shares, no Options shall be granted or payment made
or Shares issued,
in whole or in part, unless listing, registration, qualification, consent or
approval has been effected or
obtained free of any conditions acceptable to the Board.

          16.2 Restricted Stock. Notwithstanding anything contained in the Plan or the Stock
Option Agreement to the contrary, in the event that the disposition of the Shares
acquired pursuant to
this Plan is not covered by a then current registration statement under the
Securities Act of 1933, as
amended (the “Act”), and is not otherwise exempt from such registration, such
Shares shall be

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restricted against transfer to the extent required by the Act. The Board may require
the Employee or
any other individual receiving the Shares pursuant to the Option granted under this
Plan, as a
condition precedent to receipt of such Shares, to represent and warrant to PAH in
writing that the
Shares acquired by such individual are acquired without a view to any distribution
thereof and will not
be sold or transferred other than pursuant to an effective registration thereof under
the Act or pursuant
to an exemption applicable under the Act, or the rules and regulations promulgated
thereunder. The
certificates evidencing any of such Shares shall be appropriately legended to reflect
their status as
restricted securities.

          16.3 Other Documents. The Employee shall execute and deliver to PAH any
documents or agreements which PAH may deem necessary or advisable to secure an
exemption from
the registration requirements of the Securities Act of 1933, as amended, and
applicable state securities
laws in connection with the exercise and sale of any Optioned Shares, containing
such terms and
conditions as the Board may specify, before a stock certificate shall be issued
with respect to any
Optioned Shares.

     17. Disputes Or Disagreements. As a condition of the granting of the Option, the
Employee agrees, for himself and his personal representative, that any disputes or
disagreements
which may arise under or as a result of or pursuant to this Plan shall be
determined by the Board in its
sole discretion, and that any interpretation by the Board of the terms of this
Plan shall be final,
binding and conclusive.

     18. Tax Advice. The Employee represents that he has not relied upon any tax advice
from PAH or its counsel with respect to this Plan and has been advised to consult with
his own tax and other advisors.

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EXHIBIT “A”

to

Stock Option Agreement

PARSONS ADVANCED HOLDINGS, INC.

STOCK OPTION AGREEMENT

EXERCISE FORM

     I desire to exercise my vested Options to purchase                      shares of common stock at
$                      per share, for a total purchase price of $                      pursuant to my Stock
Option Agreement dated                     .

     Enclosed is payment in full by [ ] cash [ ] cashier’s check [ ] bank draft [ ] money order [ ]
other (describe)                                         .

     I have, or have been given access to, all information necessary for me to make an
informed decision as to the advisability of investing in PAH’s common stock, and I have
the skill and experience necessary to make such decision.

     DATED:                                         

	 	 	 	 	 	 	 
	 

	 	Signature: 	 	 	 	 
	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	Print full
name: 	 	 
	 

	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	Social Security
No.: 	 	 
	 

	 	 	 	 	 	 

7exv10w3

 

Exhibit 10.3

The Go Daddy Group,

Inc. Stock Option Award

     This
stock option agreement is entered into this    th day
of
               ,
200__, by and
between The Go Daddy Group, Inc., an Arizona corporation (the
“Company”), and “Employee” (“Employee”), an employee of the Company.

As part of the compensation package, the Company has adopted effective as of July 16th, 2002, The
Go Daddy Group, Inc. 2002 Stock Option Plan (the “Plan”) pursuant to resolution of the Board.
Please refer to the Plan for all of the terms and conditions of
the stock options. You may request a copy of the Agreement from the accounting department.

     The Company grants to the Employee the following stock option (the “Option”) to purchase
Shares subject to the following terms of this Option agreement and the Plan:

	 	 	 	 
	(a)
	Employee:
	 	«Employee»
	(b)
	Date of Grant:

	 	«Date»
	(c)
	Start Date for Vesting:

	 	«Date»
	(d)
	Number
of Option Shares:

	 	«Award»
	(e)
	Exercise Price Per Share:

	 	«Strike»
	(f)
	Expiration
Date:

	 	«Term»
	(g)
	Vesting
Schedule:

	 	Refer to Section 3 in the Agreement

This Option is not intended to be and shall not be treated as an incentive stock option under
Section 422 of the Internal Revenue Code of 1986, as amended.

By this agreement, the Company and the Employee desire to establish the terms upon which the
Company is willing to grant to the Employee, and upon which the Employee is willing to accept from
the Company, an option to purchase shares of common stock of the Company (the “Shares”).

IN WITNESS WHEREOF, the undersigned have signed this Award and as of the date first
written above and agree to all of the terms and conditions outlined in the Agreement.

	 	 	 	 	 
	The Go Daddy Group,
Inc., an Arizona

corporation	 	EMPLOYEE
	 
	By:

	 	 	 	 
	 

	 	 
	 	 
	Robert R. Parsons	 	«Employee»
	Its:Chairman	 	 

 

 

			
	Certificate

  Number
	 	Number of

Options   
	«Cert»
	 	«Amt_»

     THIS
CERTIFICATE (combined with a
properly executed stock Option agreement)
certifies that:

«Name»

Is the
record holder of «Amt_» stock options of THE GO DADDY GROUP, INC. common stock exercisable at the
 option strike price of
$        
per share.

This
certificate is non-transferable and subject to the provisions
outlined in the executed stock option award dated «date».

Witness the seal of the corporation and the signature of its duly authorized officer.

Dated:
«date»

 

Chairman / President

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