Exhibit 10.10
[FORM OF]
NOTICE OF AWARD OF STOCK PURCHASE
RIGHT
AND
STOCK PURCHASE AGREEMENT
UNDER THE 8x8, INC. 2006 STOCK
PLAN
Name of Participant:
______________________________________________
Award
Date:
____________________________________________________
Number
of Shares:
_______________________________________________
- Grant of
Stock Purchase Right
8x8,
Inc., a Delaware corporation (the " Company "), hereby
grants to Participant a Stock Purchase Right (as defined in
Section 2.1 of the Company's 2006 Stock Plan (the "
Plan ")) covering the number of shares of the Company's
common stock, par value $0.001 per share (the " Common Stock
") set forth above (the " Shares "), subject to the terms
and conditions of this Agreement (the " Agreement ") and the
Plan. Unless otherwise defined herein, the terms defined in the
Plan shall have the same defined meanings in this
Agreement.
- Vesting
No
portion of the Shares subject to the Stock Purchase Right will be
issued to Participant until such portion has vested.
Alternative 1: Except as otherwise provided in this Agreement
or under the Plan, the Shares shall vest and become exercisable
with respect to one-fourth of the Shares on the first anniversary
of the Award Date (set forth above) and as to [ one thirty-
sixth of the remaining Shares subject to the Stock Purchase Right
at the end of each successive month thereafter ] or [
one- fourth of the remaining Shares subject to the Stock Purchase
Right on each successive anniversary of the Award Date thereafter
] until all of the Shares subject to the Stock Purchase
Right have vested, subject to Participant's continuing status as an
Employee.
Alternative 2: Except as otherwise provided in this Agreement
or under the Plan, the Shares shall vest and become exercisable
contingent upon successfully achieving the [_________] performance
goal of [_________], subject to Participant's continuing status as
an Employee. There is a minimum threshold set at [__]% of
[_________]. No Shares will vest below the [__]% attainment level.
For performance at and above [__]%, the number of Shares that vest
will be based on a graduated slope, to be capped at [__]%
attainment as per Schedule 1.
-
Exercise of Stock Purchase Right
-
- Participant
hereby agrees to purchase from the Company, and the Company hereby
agrees to sell to Participant, any and all vested Shares subject to
the Stock Purchase Right as they vest from time to time, in
consideration of services rendered to the Company by Participant
and otherwise in accordance with the terms and conditions of this
Agreement and the Plan. Immediately upon such vesting from time to
time of Shares subject to the Stock Purchase Right: (1) the Stock
Purchase Right shall be deemed to be exercised to the extent of the
vested Shares as of the date of such vesting; and (2) the Company
shall issue the vested Shares to Participant in consideration of
services rendered to the Company by Participant, in accordance with
Section 7.3(b) of the Plan.
- As soon as
practicable after the vesting of any and all Shares, Participant's
name shall be entered as the stockholder of record on the books and
records of the transfer agent for the Company with respect to the
vested Shares subject to compliance with all requirements under
applicable laws or regulations in connection with such issuance and
with the requirements of this Agreement and of the Plan. The
determination of the Committee as to such compliance shall be final
and binding on Participant.
- No fraction of
a Share shall be delivered to Participant at any time. In the event
that, from time to time, the number of Shares that vest and would
otherwise be deliverable to Participant includes a fraction of a
Share, the number of Shares that shall be deliverable to
Participant shall be adjusted to the nearest smaller whole number
of Shares.
- Until such
time as any Shares subject to the Stock Purchase Right have vested
and been issued to Participant pursuant to this Section 3,
Participant shall not have any rights as a holder of such Shares,
including, but not limited to, voting rights, rights to receive
dividends and other distributions with respect to Common Stock, and
stockholder inspection rights.
- Termination
of S