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NOTICE OF PURCHASE OF STOCK OPTIONS COGNIZANT CORPORATION
AND OPTION AGREEMENT
ID: ###-##-####
200 Nyala Farms
Westport, CT 06880
- - --------------------------------------------------------------------------------
NAME PLAN:
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Effective 11/15/96, you have purchased a Non-Qualified Stock Option to buy
______ shares of Cognizant Corporation (the Company) stock at an option price
of $33.3750 per share. You have agreed to pay 10% of the option price, or
$3.3375 per share, as a purchase price for this option on December 31, 1996. The
remainder of the option price, $30.0375 per share, will be payable if and when
you exercise the option.
The total option price of the shares granted is ________, less the 10%
payable on December 31, 1996, or ________, for a total option price balance
of _______.
Shares in each period will become fully vested on the date shown.
Number of Shares Vest Type Full Vest Expiration Date
---------------- ------------- ----------- ---------------
On Vest Date 11/15/97 11/14/06
On Vest Date 11/15/98 11/14/06
On Vest Date 11/15/99 11/14/06
On Vest Date 11/15/00 11/14/06
On Vest Date 11/15/01 11/14/06
On Vest Date 11/15/02 11/14/06
- - --------------------------------------------------------------------------------
By your signature and the Company's signature below, you and the Company agree
that these options are granted under and governed by the terms and conditions of
the Company's Key Employees Stock Incentive Plan and the Plan Prospectus, all of
which are attached and made part of this document.
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___________________________________________ _____________________________
Cognizant Corporation Date
___________________________________________ _____________________________
Name Date
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NOTICE OF PURCHASE OF STOCK OPTIONS COGNIZANT CORPORATION
AND OPTION AGREEMENT
ID: 061-450569
200 Nyala Farms
Westport, CT 06880
- - --------------------------------------------------------------------------------
NAME PLAN:
================================================================================
Effective 11/15/96, you have purchased a Non-Qualified Stock Option to buy
_____ shares of Cognizant Corporation (the Company) stock at an option price
of $33.3750 per share. You have agreed to pay 10% of the option price, or
$3.3375 per share, as a purchase price for this option on December 31, 1996. The
remainder of the option price, $30.0375 per share, will be payable if and when
you exercise the option.
The total option price of the shares granted is _______, less the 10%
payable on December 31, 1996, or _________, for a total option price balance
of ________.
Shares in each period will become fully vested on the date shown.
Number of Shares Vest Type Full Vest Expiration Date
---------------- ------------- ----------- ---------------
On Vest Date 11/15/97 11/14/06
On Vest Date 11/15/98 11/14/06
On Vest Date 11/15/99 11/14/06
On Vest Date 11/15/00 11/14/06
On Vest Date 11/15/01 11/14/06
On Vest Date 11/15/02 11/14/06
Notwithstanding anything to the contrary in this Award Agreement, upon the
occurrence of a "Change in Control" (as such term is defined in the change-in
control agreement entered into by the Participant and the Company), then all
unvested options will become immediately exercisable.
- - --------------------------------------------------------------------------------
By your signature and the Company's signature below, you and the Company agree
that these options are granted under and governed by the terms and conditions of
the Company's Key Employees Stock Incentive Plan and the Plan Prospectus, all of
which are attached and made part of this document.
================================================================================
___________________________________________ _____________________________
Cognizant Corporation Date
___________________________________________ _____________________________
Name Date
================================================================================
NOTICE OF PURCHASE OF STOCK OPTIONS COGNIZANT CORPORATION
AND OPTION AGREEMENT
ID: 061-450569
200 Nyala Farms
Westport, CT 06880
- - --------------------------------------------------------------------------------
NAME PLAN:
================================================================================
Effective 11/15/96, you have purchased a Non-Qualified Stock Option to buy
_______ shares of Cognizant Corporation (the Company) stock at an option price
of $33.3750 per share. You have agreed to pay 10% of the option price, or
$3.3375 per share, as a purchase price for this option on December 31, 1996. The
remainder of the option price, $30.0375 per share, will be payable if and when
you exercise the option.
The total option price of the shares granted is _______, less the 10%
payable on December 31, 1996, or ________, for a total option price balance
of ________.
Shares in each period will become fully vested on the date shown.
Number of Shares Vest Type Full Vest Expiration Date
---------------- ------------- ----------- ---------------
On Vest Date 11/15/97 11/14/06
On Vest Date 11/15/98 11/14/06
On Vest Date 11/15/99 11/14/06
On Vest Date 11/15/00 11/14/06
On Vest Date 11/15/01 11/14/06
On Vest Date 11/15/02 11/14/06
Notwithstanding anything to the contrary in this Award Agreement, upon the
occurrence of a "Change in Control" (as such term is defined in the change-in
control agreement entered into by the Participant and the Company), then all
unvested options will become immediately exercisable.
You have the right to elect to reduce the number of shares you receive upon
exercise of an option by the amount necessary to satisfy your withholding tax
obligation.
- - --------------------------------------------------------------------------------
By your signature and the Company's signature below, you and the Company agree
that these options are granted under and governed by the terms and conditions of
the Company's Key Employees Stock Incentive Plan and the Plan Prospectus, all of
which are attached and made part of this document.
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___________________________________________ _____________________________
Cognizant Corporation Date
___________________________________________ _____________________________
Name Date