THE ULTIMATE SOFTWARE GROUP, INC. DIRECTOR FEE OPTION AGREEMENT FOR NON- EMPLOYEE DIRECTORSUltimate Software • March 15th, 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
