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Exhibit 10.54
B LUE C OAT S YSTEMS , I NC .
PACKETEER, INC.
1999 S TOCK I NCENTIVE P LAN
( AS ASSUMED BY B LUE C OAT SYSTEMS , I NC . ON J UNE 6, 2008)
R ESTRICTED S TOCK A GREEMENT
(US E MPLOYEES )
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Grant
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On the terms
and conditions set forth in the Notice of Restricted Stock Award
and this Restricted Stock Agreement (“Agreement”), the
Company hereby grants to you the number of Shares set forth in the
Notice of Restricted Stock Award. Terms not defined in this
Agreement shall have the meaning set forth in the Packeteer 1999
Stock Incentive Plan, as amended and restated on December 12,
2007, incorporated herein by reference.
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Payment for
Shares
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No payment is
required for the Shares that you are receiving, except for
satisfying any withholding taxes that may be due as a result of the
grant of this award, the vesting of the Shares or the transfer of
the Shares.
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Vesting
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The Shares will
vest and become non-forfeitable, as shown in the Notice of
Restricted Stock Award. No additional Shares vest after your
service as an Employee or consultant of the Company or a parent,
subsidiary or affiliate of the Company (“Service”) has
terminated for any reason.
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Corporate
Transaction
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In the event of
a Corporate Transaction, then the vesting of the Shares will not
automatically accelerate unless this award is, in connection with
the Corporate Transaction, not to be assumed by the successor
corporation (or its parent) or to be replaced with a comparable
award for shares of the capital stock of the successor corporation
(or its parent). The determination of award comparability will be
made by the Primary Committee, and its determination will be final,
binding and conclusive.
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Involuntary
Termination After a Corporate Transaction
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If in connection with a Corporate Transaction
the award is assumed by the successor corporation (or its parent)
and you experience an Involuntary Termination within eighteen
months following such Corporate Transaction, the vesting of the
Shares will automatically accelerate so that this award will,
immediately before the effective date of the Involuntary
Termination, become fully vested for all of the Shares at the time
subject to this award.
Involuntary Termination shall have
the meaning set forth in the Plan.
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Forfeiture
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If your Service
terminates for any reason, then this award will automatically
terminate (and the Shares shall be forfeited) with respect to any
Shares that (a) have not vested before your termination date and
(b) do not vest as a result of the termination. You will receive no
payment for any Shares that are forfeited under this Agreement. The
Company determines when your Service terminates for this
purpose.
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