SEC Contract Filing

Filing Date: 2015-01-29

Document Content:
<DOCUMENT>
<TYPE>EX-10.15
<SEQUENCE>2
<FILENAME>q42014exhibit1015.htm
<DESCRIPTION>EXHIBIT 10.15
<TEXT>
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<a name="s0BA4EBFDA3F777D5B51D363045505FC4"></a><div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Exhibit 10.15</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">RESTRICTED STOCK UNIT AWARD AGREEMENT</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">UNDER THE PROGRESS SOFTWARE CORPORATION <br>2008 STOCK OPTION AND INCENTIVE PLAN</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name of Grantee: &#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Number of Restricted Stock Units: </font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Grant Date: &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;padding-bottom:16px;padding-top:32px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Pursuant to the Progress Software Corporation 2008 Stock Option and Incentive Plan as amended through the date hereof (the &#8220;Plan&#8221;), Progress Software Corporation (the &#8220;Company&#8221;) hereby grants the number of Restricted Stock Units (&#8220;RSUs&#8221;) specified above (the &#8220;Award&#8221;) to the Grantee named above, subject to the terms of the Plan and this Award Certificate. The Award represents a promise to pay to the Grantee one share of Common Stock, par value $.01 per share (the &#8220;Stock&#8221;) of the Company for each RSU, subject to the restrictions and conditions set forth herein and in the Plan. </font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:left;text-indent:48px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:12pt;padding-right:48px;">1.</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Restrictions</font><font style="font-family:inherit;font-size:12pt;">. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">No Voting Rights and Dividends</font><font style="font-family:inherit;font-size:12pt;">. Until such time as the RSUs are paid to the Grantee in shares of Stock, the Grantee shall have no voting rights and no rights to any dividends or other distributions with respect to the RSUs.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Restrictions on Transfer</font><font style="font-family:inherit;font-size:12pt;">. The RSUs granted pursuant to this Agreement may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated and any such attempt to transfer any RSU will not be honored.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">2.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Vesting of Restricted Stock Units</font><font style="font-family:inherit;font-size:12pt;">. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Form of Payment</font><font style="font-family:inherit;font-size:12pt;">. Subject to the Grantee being employed by the Company on each vesting date, the restrictions and conditions in Paragraph&#160;1 of this Agreement with respect to such RSU shall lapse and such RSU shall become payable to the Grantee in shares of Stock on the relevant vesting date specified below:</font></div><div style="line-height:120%;padding-left:94px;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:71.7948717948718%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="57%"></td><td width="43%"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:16px;padding-right:2px;"><div style="padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Vesting Date</font></div></td><td sty