Company: CVLT
Filing Date: 2025-06-25
Form Type: DEF 14A
Source: 0001169561-25-000059
Chunk: 57

Company: COMMVAULT SYSTEMS INC
Filing Date: 2025-06-25
Form: DEF 14A
Chunk 57
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,000.

If a Full Value Award or Cash Incentive Award that is intended to be performance-based compensation is denominated in shares but an equivalent amount of cash is delivered (or vice versa), the foregoing limitations will be applied based on the methodology the TMCC uses to convert shares of Common Stock to cash (or vice versa). If delivery of cash or shares of Common Stock is deferred until after the cash or shares are earned, there will not be any adjustment in the amount delivered to reflect interim changes in the stock price.

Awards granted to independent directors for any calendar year may not exceed $500,000 ($1,000,000 for the initial year of directorship), determined as of the date of grant.

In the event of a corporate transaction (including a stock dividend, stock split, reverse stock split, extraordinary cash dividend, recapitalization, reorganization, merger, consolidation, split-up, spin-off, exchange of shares, sale of assets or subsidiaries, or combination) that affects the Common Stock such that the TMCC determines an adjustment is warranted in order to preserve the benefits or prevent the enlargement of benefits of awards under the 2016 Incentive Plan, the TMCC will adjust awards in a manner it determines to be equitable in its discretion.

Specifically, the TMCC may:

• adjust the number and kind of shares that may be delivered under the 2016 Incentive Plan (including adjusting the
individual limitations described above);

• adjust the number and kind of shares subject to outstanding awards;

• adjust the exercise price of outstanding Options and SARs;

• replace awards with other awards that the TMCC determines have comparable value and that are based on stock of a company resulting from the transaction; and

• cancel any award in return for cash payment of the award’s current value, determined as though the award is fully vested at the time of payment, provided that in the case of an Option or SAR, the amount of such payment may be the excess of the value of the shares of Common Stock subject to the Option or SAR at the time of the transaction over the exercise price.

#### Types of Awards

#### Options
The TMCC may grant Options to purchase shares of Common Stock in the form of ISOs or non-qualified stock options (“NQOs”). The exercise price of an Option cannot be less than the fair market value of a share of Common Stock on the date the Option is granted. ISOs may only be granted to employees of Commvault or our permitted corporate subsidiaries and must satisfy other requirements