SEC Contract Filing

Filing Date: 2015-07-10

Document Content:
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<TYPE>EX-10.4
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<DESCRIPTION>EX-10.4
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.4 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>FORM OF </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RESTRICTED
STOCK AWARD AGREEMENT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TIME DELAYED AND MARKET-BASED VESTING </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PAYCOM SOFTWARE, INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>2014 LONG-TERM INCENTIVE PLAN </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. <U>Grant of Award</U>. Pursuant to the Paycom Software, Inc. 2014 Long-Term Incentive Plan (the &#147;<B><I>Plan</I></B>&#148;) for
Employees, Contractors, and Outside Directors of Paycom Software, Inc., a Delaware corporation (the &#147;<B><I>Company</I></B>&#148;), the Company grants to </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman" ALIGN="center">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(the &#147;<B><I>Participant</I></B>&#148;)</P></TD>
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</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">an Award of Restricted Stock in accordance with Section&nbsp;6.4 of the Plan. The number of shares of Common Stock awarded
under this Restricted Stock Award Agreement (this &#147;<B><I>Agreement</I></B>&#148;) is &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) shares (the &#147;<B><I>Awarded Shares</I></B>&#148;), as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">a. Fifty percent (50%)&nbsp;of the total Awarded Shares shall be subject to time-based vesting as set forth below (referred to
herein as, the &#147;<B><I>Tranche A Shares</I></B>&#148;); and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">b. Fifty percent (50%)&nbsp;of the total Awarded Shares
shall be subject to performance-based vesting as set forth below (referred to herein as, the &#147;<B><I>Tranche B Shares</I></B>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The
&#147;<B><I>Date of Grant</I></B>&#148; of this Award is [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;], 2015. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2. <U>Subject to Plan; Definitions</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">a. This Agreement is subject to the terms and conditions of the Plan, and the terms of the Plan shall control to the extent not
otherwise inconsistent with the provisions of this Agreement. To the extent the terms of the Plan are inconsistent with the provisions of the Agreement, this Agreement shall control. This Agreement is subject to any rules promulgated pursuant to the
Plan by the Board or the Committee and communicated to the Participant in writing. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">b. The capitalized terms used herein
that are defined in the Plan shall have the same meanings assigned to them in the Plan; <I>provided</I>, that the following terms shall have the meanings set forth below: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">i. &#147;<B><I>Appraised Value</I></B>&#148; means the value ascribed to a share of the subject Equity Securities as set forth
in the most recent written appraisal previously issued by an independent Person selected by the audit committee of the Company nationally recognized as having experience in providing investment banking or similar appraisal or valuation services and
with expertise generally in the valuation of securities; <I>provided</I>, that it being understood that neither the Board nor the audit committee shall have any obligation to obtain any such appraisal more than once per calendar year. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">ii. &#147;<B><I>Equity Securities</I></B>&#148; means, as applicable, (a)&nbsp;any capital stock, membership interests or other
share capital, (b)&nbsp;any securities directly or indirectly convertible into or exchangeable for any capital stock, membership interests or other </