Shutterfly 2011 Annual Report Download - page 113

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SHUTTERFLY, INC.
2006 EQUITY INCENTIVE PLAN
NOTICE OF STOCK APPRECIATION RIGHT AWARD
GRANT NUMBER: ____________________
The terms defined in the Company’s 2006 Equity Incentive Plan (the “Plan”)
shall have the same meanings in this Notice of Stock
Appreciation Right Award (“Notice of Grant”).
You (“ Participant ”) have been granted an award of Stock Appreciation Rights (“SARs”), subject to the terms and conditions of the
Plan and the attached Stock Appreciation Right Award Agreement (hereinafter
“SAR Agreement”) to the Plan (available in hard copy by
request), as follows:
[Vesting Schedule: The SARs will vest as follows: ________________________________, subject to your continued service
as an employee, director or consultant of the Company. ]
I, __________________, (“Participant”)
understand that my employment or consulting relationship, or service as a director, with the Company
is for an unspecified duration, can be terminated at any time with or without cause (i.e., is “at-will”),
and that nothing in this Notice of Grant or
the Plan changes the at-
will nature of that relationship. I acknowledge that the vesting of the SARs pursuant to this Notice of Grant is earned
only by my continuing service as an employee, director or consultant of the Company. I also understand that this Notice of Grant is subject to
the terms and conditions of both the SAR Agreement and the Plan, both of which are incorporated herein by reference. I have read both the SAR
Agreement and the Plan.
Name:
Address:
Number of SARs:
Maximum Number of Shares Issuable:
Date of Grant:
Fair Market Value of a Share on Date of Grant:
First Vesting Date:
[
]
Expiration Date:
The date on which settlement of all SARs granted hereunder occurs, with earlier expiration upon the Termination
Date
PARTICIPANT
SHUTTERFLY, INC.
Signature:
By:
Print Name:
Its: