SEC Contract Filing

Filing Date: 2018-05-08

Document Content:
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<TYPE>EX-10.2
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<FILENAME>d436222dex102.htm
<DESCRIPTION>EX-10.2
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<TITLE>EX-10.2</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Exhibit 10.2 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><I>[Form of CIC Addendum for grants to executive officers </I></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><I>under 2017 Stock Incentive Plan] </I></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CIC ADDENDUM </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TO
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>STOCK OPTION AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The following provisions are hereby incorporated into, and are hereby made a part of, that certain Stock Option Agreement (the &#147;<B>Option
Agreement</B>&#148;) by and between Veritone, Inc. (the &#147;<B>Corporation</B>&#148;) and [PARTICIPANT NAME] (&#147;<B>Participant</B>&#148;) evidencing the stock option granted on [GRANT DATE] to Participant under the Corporation&#146;s 2017
Stock Incentive Plan, and such provisions shall be effective immediately. All capitalized terms in this Addendum, to the extent not otherwise defined herein, shall have the meanings assigned to such terms in the Option Agreement. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CHANGE IN CONTROL </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.
Paragraph 6 of the Option Agreement shall be replaced in its entirety with the following: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">&#147;6. <B><U>Change in Control</U></B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(a) Should a Change in Control occur during Participant&#146;s period of Service, then the Option Shares at the time subject to this option,
as determined by the Plan Administrator in its sole discretion, may be (i)&nbsp;assumed by the successor corporation (or parent thereof) or otherwise continued in full force and effect pursuant to the terms of the Change in Control transaction or
(ii)&nbsp;replaced with a cash retention program of the successor corporation which preserves the spread existing on the unvested Option Shares at the time of the Change in Control (the excess of the Fair Market Value of those Option Shares over the
Exercise Price payable for such shares) and provides for subsequent payout of that spread in accordance with the Exercise Schedule applicable to those unvested Option Shares as set forth in the Grant Notice and adjusted (to the extent applicable) in
accordance with Paragraph 6(c) below. Notwithstanding the foregoing, no such cash retention program shall be established for this option (or any other option granted to Participant under the Plan) to the extent such program would otherwise be deemed
to constitute a deferred compensation arrangement subject to the requirements of Code Section&nbsp;409A and the Treasury Regulations thereunder. Any escrow, holdback, <FONT STYLE="white-space:nowrap">earn-out</FONT> or similar provisions in the
agreement effecting the Change in Control may apply to a cash retention program described in clause (ii)&nbsp;above to the same extent and in the same manner as such provisions apply to a holder of a share of Common Stock, as determined by the Plan
Administrator. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(b) In the event the option is assumed, replaced or otherwise continued in effect following the Change in Control
transaction, then this option shall, immediately prior to the effective date of the Change in Control, become vested and exercisable for an additional number of the Option Shares equal to the lesser of (a)&nbsp;twenty-five percent (25%) of the
number of Option Shares initially subject to this option and (b)&nbsp;the number of Option Shares that are not then vested and exercisable pursuant to the Exercise Schedule specified in the Grant Notice. The
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balance of the assumed Option Shares that remain unvested and unexercisable immediately following the consummation of the Change in Control shall continue to vest and become exercisable either
(i)&nbsp;in accordance with the terms of the Exercise Schedule applicable to those unvested Option Shares as set forth in the Grant Notice or (ii)&nbsp;in a series of twelve (12)&nbsp;successive equal monthly installments upon Participant&#146;s
completion of each additional month of Service over the twelve (12)-month period measured from the effective date of the Change in Control, whichever results in the vesting of such Option Shares occurring on the earliest possible date. In the event
that Participant&#146;s employment is terminated by the Corporation without Cause (as defined below) following a Change in Control, the balance of the remaining unvested options shall immediately vest in full. For the purposes of this option,
&#147;<B><I>Cause</I></B>&#148; shall mean (i)&nbsp;a breach by Participant of a material provision of Participant&#146;s Offer Letter with the Corporation or of Participant&#146;s proprietary information and inventio