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Exhibit
10.5
TIBCO SOFTWARE
INC.
RESTRICTED STOCK
AGREEMENT
Unless otherwise defined
herein, the terms defined in the 2008 Equity Incentive Plan (the
“Plan”) will have the same defined meanings in this
Restricted Stock Agreement (the
“Agreement”).
Name: [insert name]
(the “Employee”)
You have been granted the
right to receive an award of Restricted Stock under the Plan.
Subject to the provisions of Appendix A (attached hereto)
and of the Plan, the principal features of this award are as
follows:
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| Award
Number |
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| Date of
Award |
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| Vesting
Commencement Date |
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| Number of
Shares of Restricted Stock |
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| Purchase
Price per Share |
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$0.001 |
Scheduled Vesting/Period
of Restriction :
One-fourth (1/4
th
) of the Shares will
vest one (1) year after the Vesting Commencement Date (i.e.,
the first annual anniversary of the Vesting Commencement Date), and
an additional one-fourth (1/4 th ) of the Shares will vest on each of the next three
(3) annual anniversaries of the Vesting Commencement Date, so
that 100% of the Shares will be vested four (4) years from the
Vesting Commencement Date, subject to the last sentence in this
paragraph. If a Change of Control occurs while the Employee is a
Service Provider, then the preceding sentence will be deemed
replaced by the following (which shall be applied both
retroactively and prospectively): One-thirty-sixth (1/36
th
) of the Shares will
vest each month after the Vesting Commencement Date on the same day
of the month as the Vesting Commencement Date, so that 100% of the
Shares will be vested three (3) years from the Vesting
Commencement Date, subject to the last sentence in this paragraph.
The additional Shares that vest as a result of the preceding
sentence and are attributable to the period prior to the date of
the Change of Control shall be considered to have vested as of the
date of the Change of Control and shall be released by the Escrow
Agent (in accordance with paragraph 2 of Appendix A ) as
soon as administratively practicable following such date. Except as
otherwise provided in Appendix A , the Employee will not
vest in any Shares unless he or she remains a Service Provider
through the applicable vesting date. For purposes of this
Agreement, a “Service Provider” means an Employee,
Non-Employee Director or Consultant.
Your signature below
indicates your acknowledgement of the purchase of the Shares
covered by this Agreement and your understanding that this award is
subject to all of the terms and conditions contained in Appendix
A and the Plan. For example, important additional information
on vesting and forfeiture of the Shares covered by this award is
contained in paragraphs 3 through 5 of Appendix A .
PLEASE BE SURE TO READ ALL OF APPENDIX A , WHICH CONTAINS
THE SPECIFIC TERMS AND CONDITIONS OF THIS AGREEMENT.
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| EMPLOYEE: |
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| Signature |
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| Print
Name |
APPENDIX A
TERMS AND CONDITIONS OF
RESTRICTED STOCK AWARD
1. Award . The Company
hereby grants to the Employee under the Plan an award of Shares for
$0.001 per Share, commencing on the Date of Award, subject to all
of the terms and conditions in this Agreement and the Plan. By
accepting this award of Restricted Stock, the par value purchase
price for each Share of Restricted Stock (a) will be deemed
paid by the Employee by past services rendered by the Employee, if
the Employee is an existing employee of the Company or one of its
Subsidiaries or a newly-hired employee who has not made an election
pursuant to Section 83(b) of the Code, or (b) shall be
paid to the Company by cash or check by the Employee, if the
Employee is a newly-hired employee of the Company or one of its
Subsidiaries and has made an election pursuant to
Section 83(b) of the Code. Only whole shares shall be
issued.
2. Shares Held in
Escrow . Unless and until the Shares will have vested in the
manner set forth in paragraphs 3 through 5, such Shares will be
issued in the name of the Employee and held by the Shareholder
Services Department of the Company (or its designee) as escrow
agent (the “Escrow Agent”), and will not be sold,
transferred or otherwise disposed of, and will not be pledged or
otherwise hypothecated. The Company may determine to issue the
Shares in book entry form and/or may instruct the transfer agent
for its Shares to place a legend on the certificates representing
the Restricted Stock or otherwise note its records as to the
restrictions on transfer set forth in this Agreement and the Plan.
The certificate or certificates representing such Shares will not
be delivered by the Escrow Agent to the Employee unless and until
the Shares have vested and all other terms and conditions in this
Agreement have been satisfied.
3. Vesting Schedule/Period
of Restriction . Except as provided in paragraph 4, and subject
to paragraph 5, the Shares awarded by this Agreement shall vest in
accordance with the vesting provisions set forth on the first page
of this Agreement. Shares shall not vest in the Employee in
accordance with any of the provisions of this Agreement unless the
Employee remains a Service Provider through the date(s) vesting
otherwise is scheduled to occur.
4. Committee
Discretion . The Committee, in its discretion, may accelerate
the vesting of the balance, or some lesser portion of the balance,
of the unvested Shares at any time, subject to the terms of the
Plan. If so accelerated, such Shares will be considered as having
vested as of the date specified by the Committee.
5. Forfeiture .
Notwithstanding any contrary provision of this Agreement, the
balance of the Shares that have not vested at the time of Employee
ceases to be a Service Provider will be forfeited and automatically
transferred to and reacquired by the Company at no cost to the
Company upon the date the Employee ceases to be a Service Provider.
The Employee shall not be entitled to a refund of the price paid
for the Shares returned to the Company pursuant to this paragraph
5. The Employee hereby appoints the Escrow Agent with full power of
substitution, as the Employee’s true and lawful
attorney-in-fact with irrevocable power and authority in the name
and on behalf of the Employee to take any action and execute all
documents and instruments, including, without limitation, stock
powers which may be necessary to transfer the certificate or
certificates evidencing such forfeited Shares to the
Company.
6. Withholding of
Taxes . The Company (or the employing Affiliate) will withhold
a portion of the Shares that have an aggregate market value
sufficient to pay all Tax Obligations required to be withheld by
the Company or the employing Affiliate with respect to the Shares,
unless the Committee, in its sole discretion, requires or permits
the Employee to make alternate arrangements satisfactory to the
Company for such withholdings in advance of the arising of any
withholding obligations. The Committee, in its sole discretion and
pursuant to such procedures as it may specify from time to time,
may permit the Employee to satisfy his or her Tax Obligations, in
whole or in part by one or more of the following (without
limitation): (a) paying cash, (b) electing to have the
Company withhold otherwise deliverable Shares having a Fair Market
Value equal to the minimum statutory amount required to be
withheld, or (c) selling a sufficient number of such Shares
otherwise deliverable to Employee through such means as the Company
may determine in its sole discretion (whether through a broker or
otherwise) equal to the amount required to be withheld.
Notwithstanding any contrary provision of this Agreement, no
Restricted Stock will be granted unless and until satisfactory
arrangements (as determined by the Company) will have been made by
the Employee with respect to the payment of any income and other
taxes which the Company determines must be withheld or collected
with respect to such Shares. In addition and to the maximum extent
permitted by law, the Company (or the employing Affiliate) has the
right to retain without notice from salary or other amounts payable
to the Employee, cash having a sufficient value to satisfy any tax
withholding obligations that the Company determines cannot be
satisfied through the withholding of otherwise deliverable Shares.
All Tax Obligations related to the Restricted Stock award and any
Shares delivered in payment thereof are the sole responsibility of
the Employee. By accepting this award, the Employee expressly
consents to the withholding of Shares and to any additional cash
withholding as provided for in this paragraph 6. Only whole Shares
will be withheld or sold to satisfy any tax withholding obligations
pursuant to this paragraph 6. The number of Shares withheld will be
rounded up to the nearest whole Share, with a cash refund to
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