QLIK TECHNOLOGIES INC. 2007 OMNIBUS STOCK OPTION AND AWARD PLAN NON-QUALIFIED STOCK OPTION AWARD AGREEMENT
Exhibit 10.27.A
QLIK TECHNOLOGIES INC.
2007 OMNIBUS STOCK OPTION AND AWARD PLAN
2007 OMNIBUS STOCK OPTION AND AWARD PLAN
THIS NON-QUALIFIED STOCK OPTION AWARD AGREEMENT (the “Agreement”) is made and entered
into as of the 21st day of May, 2010, by and between QLIK TECHNOLOGIES INC., a Delaware corporation
(the “Corporation”), and Xxxx Xxxxx (the “Participant”).
Statement of Purpose
The Participant is an employee or director of or consultant to the Corporation or a Subsidiary
who provides, and is expected to continue to provide, significant contributions to the success of
the Corporation or a Subsidiary. To recognize this service and to provide an incentive for future
service, the Participant is hereby granted a Non-Qualified Stock Option to purchase shares of the
Corporation’s Common Stock pursuant to the terms of the Qlik Technologies Inc. 2007 Omnibus Stock
Option and Award Plan (the “2007 Plan”). In that regard, the Corporation and the
Participant desire to restrict the sale of the shares of the Corporation’s Common Stock issuable to
the Participant upon exercise of the option granted hereunder to provide for the repurchase of such
shares in certain instances on the terms and conditions hereinafter set forth. Capitalized terms
used and not otherwise defined in this Agreement shall have the meanings set forth in the 2007
Plan.
NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained,
the parties hereto, intending to be legally bound, hereby agree as follows:
1. Award. The Participant is hereby granted the option to purchase 400,000 shares of
the Corporation’s Common Stock (the “Option”). The Option Period shall commence on the
Grant Date, May 21, 2010, and shall terminate upon the earliest of (i) May 20, 2020 or (ii) January
1, 2011 in the event that the Vesting Event (as defined below) does not occur on or prior to
December 31, 2010. The Option Price shall be $6.91 per share.
2. Vesting and Exercise of Options. Except as otherwise provided hereunder, the
Option shall vest and be exercisable from time to time in accordance with the following schedule
(purchases may be cumulative); provided, that as of each such date the Participant is still
employed by or providing services to the Corporation or a Subsidiary:
The Option shall not be exercisable until the completion of an initial public offering by the
Corporation of its equity securities pursuant to an effective registration statement filed under
the Act (as defined below) that occurs on or before December 31, 2010 (the “Vesting
Event”). After the Vesting Event, the Option shall vest with respect to 1/16th of
the shares subject to the Option when the Participant completes three months of continuous service
as an employee, director or consultant of the Corporation or a Subsidiary following the Vesting
Event. The Option shall vest with respect to an additional 1/16th of the shares subject
to the Option when the Participant completes each three month period of continuous service as an
employee, director or consultant of the Corporation or a Subsidiary thereafter. The Option may vest
on an accelerated basis under Section 4(e) of this Agreement. In the event that the Vesting Event
does not occur on or prior to December 31, 2010, then the Option shall expire in full on January 1,
2011.
3. Termination of Options.
(a) The Option may not be exercised after the expiration of the Option Period and is only
exercisable as provided in Sections 2 and 4 of this Agreement. The Option hereby granted
shall terminate and be of no force or effect upon the earliest of (i) the expiration of the Option
Period or (ii) January 1, 2011 in the event that the Vesting Event does not occur on or prior to
December 31, 2010. In addition, if the Participant has a Termination of Service during the Option
Period for any reason, the unvested portion of the Option shall terminate.
(b) Subject to the limitations set forth in this Agreement and in the 2007 Plan, the
Participant may exercise the vested portion of the Option in whole or in part at any time or from
time to time from the Grant Date until the first to occur of:
(i) three (3) months following the date of the Participant’s Termination of Service
for any reason other than death or Disability;
(ii) one (1) year following the date of the Participant’s death, if an employee,
director or consultant at the time of death (during which one year period the Option may be
exercised (to the extent otherwise exercisable) by the person to whom the Participant’s
rights hereunder shall have passed by will or by the laws of descent and distribution
(hereinafter, a “Successor”));
(iii) one (1) year following the date of the Participant’s Termination of Service due
to Disability; or
(iv) the expiration of the Option Period.
4. Exercise of Options.
(a) Notice of Exercise. The Option may be exercised by written notice to the
Corporation at the address set forth in Section 10 hereof, or such other address to which
the principal office of the Corporation may be relocated, which notice shall: (i) be signed by the
Participant (or, if applicable, by the Participant’s Successors); (ii) state the number of shares
with respect to which the Option is being exercised; and (iii) contain such other information as
the Committee may require.
(b) Payment of Option Price. Payment in full of the Option Price shall be made at the
time of the written notice of exercise of the Option: (i) in cash or by check payable to the order
of the Corporation; (ii) by delivery of shares of Common Stock already owned by and in the
Participant’s possession; or (iii) any combination thereof. Shares of Common Stock which the
Participant previously held and surrendered in accordance with rules and regulations adopted by the
Committee for the purpose of making full or partial payment of the Option Price shall be valued for
such purpose at the Fair Market Value thereof on the date the Option, or portion thereof, is
exercised.
(c) Conditions to Exercise. As a condition to the exercise of the Option and the
issuance of shares of the Corporation’s Common Stock upon exercise thereof, the Corporation may:
(i) require the Participant to satisfy any qualifications that may be necessary or
appropriate to evidence compliance with any applicable law or regulation and make
any representation or warranty with respect thereto as may be requested by the
Corporation; and
(ii) obtain such agreements or undertakings from the Participant, if any, as the
Corporation may deem necessary or advisable to insure that the Participant is bound with
respect to any transfer or other restrictions that may be contained in any agreement among,
or restricting the rights of, the Corporation’s Common Stock stockholders at the time of
exercise, or with respect to any restrictions imposed upon stockholders by underwriters in
connection with a public offering referred to in Section 9.
(d) Certificates. As soon as practicable after each of the Participant’s notice of
exercise described in Section 4(a) above and the Option Price have been received by the
Corporation, the Corporation shall deliver to the Participant a stock certificate registered in the
Participant’s name representing the shares of Common Stock to be issued under the Option.
(e) Acceleration. If following the Vesting Event, within the one-year period
following a Change of Control there is a Termination of Service with respect to the Participant due
to the termination of the Participant’s employment by the Corporation without Cause (as defined in
Section 6(c) below), the Option vesting schedule set forth in Section 2 above shall be accelerated
by a period of 24 months measured from the date of such Termination of Service.
5. Representations of Participant. The Participant represents and agrees as follows:
(a) Ownership of Shares. Following exercise of all or a portion of the Option, the
Participant will be the owner of the Award Shares issued, free and clear of any liens or
encumbrances, except for restrictions set forth in the 2007 Plan, any agreement among the Common
Stock stockholders, or otherwise referenced herein. The Participant agrees that this Agreement
shall be applicable to such Award Shares.
(b) No Registration of Shares. The Participant acknowledges that, in addition to the
restrictions on transfer contained in this Agreement, the Participant has been informed by the
Corporation that, inasmuch as the Award Shares have not been registered under the Securities Act of
1933, as amended (the “Act”) such securities must be held indefinitely unless subsequently
registered or an exemption from registration is available. The Participant further acknowledges
that the Corporation is under no obligation either to register the Award Shares or the Option or to
take any action to make available any exemption from registration or to supply any information to
facilitate sales of such securities. The Participant represents and warrants that the Award Shares
will be acquired by the Participant for investment and not with a view to the distribution thereof
and that, under no circumstances, shall such securities be transferred in violation of federal or
state securities laws. The Participant further agrees that there shall be either lodged with any
stock transfer agent for the Corporation or noted on the stock transfer records of the Corporation
a stop transfer order against the Award Shares and that there shall be imprinted upon the
certificate or certificates issued to the Participant evidencing such Award Shares a legend reading
substantially as follows:
“THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933 OR THE SECURITIES LAWS OF ANY STATE, AND MAY NOT BE SOLD OR OTHERWISE
DISPOSED OF IN THE ABSENCE OF EFFECTIVE REGISTRATION UNDER SAID ACT AND LAWS OR THE
AVAILABILITY OF AN APPLICABLE EXEMPTION FROM THE REGISTRATION
REQUIREMENTS THEREOF. THE ISSUER HEREOF MAY, AS A CONDITION TO ITS EFFECTING ANY
TRANSFER HEREOF, REQUIRE AN OPINION OF COUNSEL SATISFACTORY TO IT TO THE EFFECT
THAT SUCH TRANSFER DOES NOT VIOLATE SAID REQUIREMENTS.”
6. Corporation’s Right to Repurchase Award Shares following Termination of Service.
(a) If there is a Termination of Service with respect to the Participant for any reason at
anytime (including, without limitation, the Participant’s death or Disability), then the
Corporation shall have the right, but not the obligation, to repurchase any Award Shares at a
purchase price per share determined as set forth in Section 6(b) below.
(b) The Corporation’s right to repurchase Award Shares following the Participant’s Termination
of Service as provided in Section 6(a) above may be exercised in whole or in part by the
Corporation, if at all, by the Corporation’s delivery to the Participant, within one hundred twenty
(120) days following the Termination of Service, of written notice of the Corporation’s election to
exercise. Such notice shall set forth the number of Award Shares to be purchased and the date and
time of closing of the purchase; provided that the date specified for closing shall not be
less than ten (10) days nor more than thirty (30) days from the date of the notice of election to
exercise. To the extent the Corporation does not initially elect to purchase all of the Award
Shares hereunder in its first written notice of election to exercise, the Corporation may, within
the 120-day period specified herein, elect to exercise its right to purchase any remaining Award
Shares by delivering to the Participant an additional written notice(s) of election to exercise in
the manner provided above; provided, however, that unless otherwise agreed by the
parties, the closing date for all purchases under this Section 6 shall be on the closing
date set forth in the initial notice. On or before the closing set forth in the notice(s) of
election to exercise, the Participant shall deliver to the Corporation the certificates
representing the Award Shares being purchased, duly endorsed for transfer to the Corporation,
together with such additional documents or instruments of transfer as the Corporation may request,
in accordance with such notice. The Corporation shall thereafter promptly send to the Participant
payment for such purchase by check or wire transfer based on a per share purchase price determined
as follows:
(i) Termination of Service for Any Reason Other than Termination for Cause.
If the Participant’s Termination of Service is for any reason other than the termination of
the Participant’s employment at any time by the Corporation with Cause (as defined below),
including, without limitation, the Participant’s death, Disability, or voluntary
termination by the Participant of his or her employment with the Corporation, then the per
share purchase price of the Award Shares shall be their Fair Market Value.
(ii) Termination of Service Due to Participant’s Termination for Cause. If
the Participant’s Termination of Service is due to the termination of the Participant’s
employment at any time by the Corporation with Cause, then the per share price of the Award
Shares shall be the Option Price per share paid by the Participant for such Award Shares,
as adjusted for any stock splits, stock dividends, recapitalizations or the like (the
“Participant’s Original Cost”).
(c) Definition of “Cause”. For purposes of this Agreement, the term “Cause” shall
mean termination with the approval of the Board: (i) because of willful misconduct of a material
nature by the Participant in connection with the performance of the Participant’s duties as an
employee; (ii) because of the Participant’s use of alcohol or illegal drugs that affects the
Participant’s ability to perform his or her assigned duties as an employee; (iii) because of
the Participant’s conviction of a felony or serious misdemeanor involving moral turpitude; (iv)
because of the Participant’s embezzlement or theft from the Corporation; (v) because of the
participant’s gross inattention to or dereliction of duty; or (vi) because of performance by the
Participant of any other willful act(s) which the Participant knew or reasonably should have known
would be materially detrimental to the Corporation; provided, however, that prior to the
determination by the Board that “Cause” as described in clause (i), (v) or (vi) above has occurred,
the Board shall (A) provide to the Participant in writing, in reasonable detail, the reasons for
the Board’s determination that such “Cause” exists, (B) afford the Participant a reasonable
opportunity to remedy any such breach, (C) provide the Participant an opportunity to be heard at
the Board meeting where the final decision to terminate the Participant’s employment hereunder for
such “Cause” is to be considered, and (D) make any decision that such “Cause” exists in good faith.
7. Corporation’s Right of First Refusal.
(a) If at any time the Participant proposes to Transfer (as defined in Section 7(g)
below) any Award Shares (including, without limitation, any securities acquired upon conversion
thereof or by way of any stock split, stock dividend, recapitalization or the like), then the
Participant shall promptly give the Corporation advance written notice of the Participant’s
intention to make the Transfer (the “Transfer Notice”). The Transfer Notice shall include:
(i) a description of the Award Shares to be transferred (the “Offered Shares”), (ii) the
name(s) and address(es) of the prospective transferee(s), (iii) the consideration, and (iv) the
material terms and conditions upon which the proposed Transfer is to be made. The Transfer Notice
shall certify that the Participant has received a bona fide firm offer from the prospective
transferee(s) and in good faith believes a binding agreement for the Transfer is obtainable on the
terms set forth in the Transfer Notice. The Transfer Notice shall also include a copy of any
written proposal, term sheet or letter of intent or other agreement relating to the proposed
Transfer. In the event that the transfer is being made pursuant to the provisions of Section
7(e), the Transfer Notice shall state under which specific subsection the Transfer is being
made.
(b) The Corporation shall have the right, but not the obligation, for a period of thirty (30)
days from receipt by the Corporation of the Transfer Notice to elect to purchase the Offered Shares
at the same price and subject to the same material terms and conditions as described in the
Transfer Notice. The Corporation may exercise such purchase option and purchase all or any portion
of the Offered Shares by notifying the Participant in writing before expiration of such thirty (30)
day period as to the number of such Offered Shares that the Corporation wishes to purchase. If the
Corporation gives the Participant notice that it desires to purchase such shares, then payment for
the Offered Shares shall be by check or wire transfer, against delivery of the Offered Shares to be
purchased at a place agreed upon between the parties and at the time of the scheduled closing
therefor, which shall be no later than sixty (60) days after receipt by the Corporation of the
Transfer Notice, unless the Transfer Notice contemplated a later closing with the prospective
third-party transferee(s) or unless the value of the purchase price has not yet been established
pursuant to Section 7(c).
(c) Should the purchase price specified in the Transfer Notice be payable in property other
than cash or evidences of indebtedness, the Corporation shall have the right to pay the purchase
price in the form of cash equal in amount to the fair market value of such property. If the
Participant and the Corporation cannot agree on such cash value within thirty (30) days after
receipt by the Corporation of the Transfer Notice, the valuation shall be made by an appraiser
of recognized standing in the United States selected by the Participant and the Corporation or, if
they cannot agree on an appraiser within forty (40) days after receipt by the Corporation of the
Transfer Notice, each shall select an appraiser of recognized standing in the United States and
those appraisers shall designate a third appraiser of recognized standing in the United States,
whose appraisal shall be determinative of such value. The cost of such appraisal shall be shared
equally by the Participant and the Corporation. If the time for the closing of the Corporation’s
purchase has expired but the determination of the value of the purchase price offered by the
prospective transferee(s) has not been finalized, then such closing shall be held on or prior to
the tenth business day after such valuation shall have been made pursuant to this Section
7(c).
(d) To the extent that the Corporation has not exercised its right to purchase the Offered
Shares within the time periods specified in Section 7(b), the Participant shall have a
period of thirty (30) days from the expiration of such right in which to sell the Offered Shares,
upon terms and conditions (including the purchase price) no more favorable than those specified in
the Transfer Notice, to the third-party transferee(s) identified in the Transfer Notice. The
third-party transferee(s) shall acquire the Offered Shares subject to the Corporation’s continued
right of first refusal under this Agreement and must agree in writing to be bound with respect
thereto. In the event the Participant does not consummate the sale or disposition of the Offered
Shares within the thirty (30) day period from the expiration of this right, the Corporation’s first
refusal right shall continue to be applicable to any subsequent disposition of the Offered Shares
by the Participant until such right lapses in accordance with the terms of this Agreement.
Furthermore, the exercise or non-exercise of the right of the Corporation under this Section
7 to purchase the Offered Shares from the Participant shall not adversely affect its right to
make subsequent purchases from the Participant of Offered Shares.
(e) Notwithstanding the provisions of Sections 7(a) and 7(b) of this
Agreement, the first refusal right of the Corporation shall not apply to: (i) the Transfer of Award
Shares to any spouse or member of the Participant’s immediate family, or to a custodian, trustee
(including a trustee of a voting trust), executor, or other fiduciary for the account of the
Participant’s spouse or members of the Participant’s immediate family, or to a trust for the
Participant’s own self, or a charitable remainder trust, or (ii) any sale of Award Shares to the
public pursuant to a registration statement filed with, and declared effective by, the U.S.
Securities and Exchange Commission under the Act; provided, however, that in the
event of any Transfer made pursuant to one of the exemptions provided by clause (e)(i): (A) the
Participant shall inform the Corporation in writing of such Transfer prior to effecting it, and (B)
each such transferee or assignee, prior to the completion of the Transfer, shall have executed
documents assuming the obligations of the Participant under this Agreement with respect to the
transferred Award Shares in a form approved by the Corporation. Such transferred Award Shares
shall remain subject to the provisions of this Section 7, and such pledgee, transferee or
donee shall be treated as the “Participant” for purposes of this Agreement.
(f) Except as otherwise provided in this Agreement, the Participant will not sell, assign,
transfer, pledge, hypothecate or otherwise encumber or dispose of in any way, all of any part of or
any interest in the Award Shares. Any sale, assignment, transfer, pledge, hypothecation or other
encumbrance or disposition of Award Shares not made in conformance with this Agreement shall be
null and void, shall not be recorded on the books of the Corporation and shall not be recognized by
the Corporation.
(g) For purposes of this Section 7, the term “Transfer” shall include any
sale, assignment, encumbrance, hypothecation, pledge, conveyance in trust, gift, transfer by
bequest, devise or descent, or other transfer or disposition of any kind, including, but not
limited to, transfers pursuant to divorce or legal separation, transfers to receivers, levying
creditors, trustees or receivers in bankruptcy proceedings or general assignees for the benefit of
creditors, whether voluntary, involuntarily or by operation of law, directly or indirectly, of any
of the Award Shares.
(h) All certificates representing the Award Shares, in addition to other legends that may be
required by applicable law or pursuant to agreement of the Corporation’s stockholders, shall bear
the following legend:
“THE SALE, PLEDGE, HYPOTHECATION, ASSIGNMENT OR TRANSFER OF THE SECURITIES
REPRESENTED BY THIS CERTIFICATE IS SUBJECT TO THE TERMS AND CONDITIONS OF A CERTAIN
NON-QUALIFIED STOCK OPTION AWARD AGREEMENT BY AND BETWEEN THE STOCKHOLDER AND THE
CORPORATION. COPIES OF SUCH AGREEMENT MAY BE OBTAINED UPON WRITTEN REQUEST TO THE
SECRETARY OF THE CORPORATION.”
(i) The Corporation’s first refusal right hereunder shall terminate and be of no further force
or effect upon the earlier of: (i) the consummation of a bona fide, firmly underwritten public
offering of shares of the Corporation’s common stock at a public offering price which is not less
than $3.15 per share (as adjusted for any stock splits, stock dividends, combinations,
subdivisions, recapitalizations or the like) and greater than $30,000,000.00 in the aggregate, or
(ii) the consummation of a Liquidation Event, as that term is defined in the Corporation’s
Certificate of Incorporation (as amended from time to time).
8. Change of Control. Notwithstanding any provision of this Agreement to the
contrary, in the event of a Change of Control, the Corporation’s option to repurchase Award Shares
under Section 6 shall terminate simultaneously with the consummation of such Change of
Control if the Participant is actively employed with the Corporation on the date of such Change of
Control, but in such event the Award Shares held by the Participant shall remain subject to the
Corporation’s right of first refusal under Section 7 hereof, and may be subject to
restrictions on transferability to the extent required by applicable law.
9. Market Stand-Off. In connection with any underwritten public offering by the
Corporation of its equity securities pursuant to an effective registration statement filed under
the Act, including the Corporation’s initial public offering, the Participant or any person to whom
the Participant has directly or indirectly transferred any Award Shares under this Agreement (a
“Transferee”) shall not directly or indirectly sell, make any short sale of, loan,
hypothecate, pledge, offer, grant or sell any option or other contract for the purchase of,
purchase any option or other contract for the sale of, or otherwise dispose of or transfer, or
agree to engage in any of the foregoing transactions with respect to, any Award Shares acquired
under this Agreement without the prior written consent of the Corporation or its underwriters.
Such restriction (the “Market Stand-Off”) shall be in effect for such period of time
following the date of the final prospectus for the offering as may be requested by the Corporation
or such underwriters. In no event, however, shall such period exceed 180 days; provided,
however, notwithstanding the foregoing, if (i) during the last seventeen (17) days of the
one hundred eighty (180)-day restricted period, the Corporation issues an earnings release or
material news or a material event relating to the Corporation occurs; or (ii) prior to the
expiration of the one hundred eighty (180)-day restricted period, the Corporation announces that it
will release earnings results during the sixteen (16)-day
period beginning on the last day of the one hundred eighty (180)-day period, the restrictions
imposed by this Section 9 shall continue to apply until the expiration of the eighteen (18)-day
period beginning on the issuance of the earnings release or the occurrence of the material news or
material event. The Market Stand-Off shall in any event terminate two years after the date of the
Corporation’s initial public offering. In the event of the declaration of a stock dividend, a
spin-off, a stock split, an adjustment in conversion ratio, a recapitalization or a similar
transaction affecting the Corporation’s outstanding securities without receipt of consideration,
any new, substituted or additional securities which are by reason of such transaction distributed
with respect to any Award Shares subject to the Market Stand-Off, or into which such shares thereby
become convertible, shall immediately be subject to the Market Stand-Off. In order to enforce the
Market Stand-Off, the Corporation may impose stop-transfer instructions with respect to the Award
Shares acquired under this Agreement until the end of the applicable stand-off period. The
Corporation’s underwriters shall be beneficiaries of the agreement set forth in this Section
9. This Section 9 shall not apply to Award Shares registered in the public offering
under the Act, and the Participant or a Transferee shall be subject to this Section 9 only
if the directors and officers of the Corporation are subject to similar arrangements.
10. Notices. Any notice given hereunder must be in writing and shall be deemed given
when either personally delivered or placed in the United States mail by registered or certified
mail, return receipt requested, postage prepaid, addressed to the parties to whom such notice is
being given at the following addresses:
As to the Corporation:
|
Qlik Technologies Inc. | |
| 000 X. Xxxxxx Xxxxxxx Xxxx | ||
| Xxxxxx, Xx. 00000 | ||
| Attention: Xxxx Xxxxx, President | ||
As to Participant:
|
last address shown on the books of the Corporation |
11. Failure to Close; Remedies. In the event that the Corporation or the Participant
shall fail or refuse for any reason whatsoever to close the sale or repurchase of Award Shares as
the Corporation or the Participant is obligated by this Agreement, then the other party to the sale
or repurchase (the “non-defaulting party”) shall have the right to exercise any one or more of the
following rights and remedies:
(a) The non-defaulting party shall have the right to recover damages from the defaulting party
for any loss or damage, including reasonable attorneys’ fees, sustained by the non-defaulting party
as a result of such default.
(b) The non-defaulting party shall have the right to specifically enforce this Agreement by
seeking an injunction prohibiting the defaulting party from violating the terms of this Agreement
and requiring the defaulting party to purchase or sell the Award Shares, as the case may be.
The rights and remedies of the non-defaulting party under this Section 11 are cumulative
and not alternative and shall be in addition to any and all other rights and remedies available to
the non-defaulting party at law or in equity.
12. Gifts. Nothing contained in this Agreement shall be construed or interpreted so
as to authorize or permit the Participant to transfer the Option by gift to any person or entity.
13. Entire Agreement. This Agreement and the 2007 Plan contain the entire
understanding and agreement by and between the parties hereto relating to the subject matter hereof
and all prior or contemporaneous oral or written agreements or instruments are merged herein. No
amendment to or modification of this Agreement shall be effective unless the same is in writing and
signed by all parties hereto. No waiver by any party of any breach by the other of any provision
of this Agreement shall be deemed to be a waiver of any other breaches thereof or the waiver of any
such or other provision of this Agreement. Subject to the restrictions on assignment and transfer
set forth hereinabove, this Agreement shall be binding upon and inure to the benefit of the parties
hereto, their estates, personal representatives, successors and assigns.
14. Severability. If any provision of this Agreement is declared invalid or
unenforceable as a matter of law, such invalidity or unenforceability shall not affect or impair
the validity or enforceability of any other provisions of this Agreement or the remainder of this
Agreement as a whole.
15. Applicable Law. The validity, construction, interpretation or performance of this
Agreement shall be governed by and construed in accordance with the laws of the State of Delaware.
16. Construction. Section headings and subheadings have been inserted herein for
convenience only and shall not be deemed to have any legal effect whatever in the interpretation of
this Agreement. As used herein, the singular shall include the plural, and the plural and
singular. The word “any” means one or more or all, and the conjunction “or” includes both the
conjunctive and disjunctive.
17. Counterparts. This Agreement may be executed in multiple counterparts, each of
which shall be deemed to be an original, and all of which taken together shall constitute one and
the same instrument.
18. No Rights as a Stockholder Until Exercise. Under the 2007 Plan, neither the
Participant nor, if applicable, his or her personal representative, shall be nor have any rights or
privileges of a stockholder of the Corporation with respect to any shares of the Corporation’s
Common Stock which may be acquired upon the exercise of the Option, in whole or in part, prior to
the date upon which the Option is actually exercised for such shares in accordance with the
provisions of Section 4 hereof and the certificates representing such shares are issued.
19. Tax Treatment. The Option is not deemed to be an Incentive Stock Option
and therefore does not qualify for special tax treatment under Section 422 of the Code.
[Signature page follows]
IN WITNESS WHEREOF, the Corporation and Participant have caused the execution of this
Agreement as of the date hereof, each intending to be legally bound hereby.
| QLIK TECHNOLOGIES INC. |
||||
| By: | /s/ Xxxxxxx Xxxxxxxx | |||
| Name: | Xxxxxxx Xxxxxxxx | |||
| Title: | Chief Financial Officer | |||
| PARTICIPANT |
||||
| By: | /s/ Xxxx Xxxxx | |||
| Name: | Xxxx Xxxxx | |||
