DIRECTOR FEE OPTION AWARD AGREEMENT The Ultimate Software Group, Inc. 2005 Equity and Incentive PlanDirector Fee Option Award Agreement • January 3rd, 2006 • Ultimate Software Group Inc • Services-prepackaged software • Delaware
This Award Agreement (the “Agreement”) made as of this [___] day of [___], 20[___], between The Ultimate Software Group, Inc., a Delaware corporation (the “Company”), and ___ (the “Optionee”), is made pursuant to the terms of The Ultimate Software Group, Inc. 2005 Equity and Incentive Plan (the “Plan”). This Agreement and the benefits conferred hereunder shall be subject to the approval of the Plan by the Company’s stockholders at the Company’s 2005 Annual Meeting of Stockholders. Capitalized terms used herein but not defined shall have the meanings set forth in the Plan.
THE ULTIMATE SOFTWARE GROUP, INC. NONQUALIFIED STOCK OPTION AGREEMENTNonqualified Stock Option Agreement • January 3rd, 2006 • Ultimate Software Group Inc • Services-prepackaged software • Delaware
WHEREAS, the Company has adopted an Amended and Restated Nonqualified Stock Option Plan (the “Plan”) pursuant to which certain employees, officers and directors of the Company and its Subsidiaries are given the opportunity to acquire or increase their equity ownership in the Company through the purchase of shares of Common Stock, par value $.01 per share, of the Company (“Stock”); and
