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Exhibit 10.12

COMMON STOCK WARRANT
CALDERA INTERNATIONAL, INC.

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NEITHER THIS WARRANT NOR THE SHARES OF STOCK ISSUABLE UPON EXERCISE HEREOF HAVE
BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"). NO
SALE, TRANSFER OR OTHER DISPOSITION OF THIS WARRANT OR SAID SHARES MAY BE
EFFECTED WITHOUT (i) AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO,
(ii) AN OPINION OF COUNSEL SATISFACTORY IN FORM AND SUBSTANCE TO THE COMPANY
THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE ACT OR (iii) RECEIPT OF A
NO-ACTION LETTER FROM THE SECURITIES AND EXCHANGE COMMISSION TO THE EFFECT THAT
REGISTRATION UNDER THE ACT IS NOT REQUIRED. THE WARRANT EVIDENCED HEREBY IS
NON-TRANSFERABLE.

Right to Purchase 210,000
Shares of Common Stock

        Caldera International, Inc., a Delaware corporation (the "Company"),
hereby certifies that, for value received, Sun Microsystems, Inc., a Delaware
corporation ("Sun"), or any transferee to whom this warrant (the "Warrant") is
properly transferred in accordance with Section 3(c) below (Sun or any such
transferee, the "Holder"), is entitled, on the terms set forth below, to
purchase from the Company at any time during the period commencing on March 11,
2003 (the "Exercisability Date") and, subject to the provisions of Section 1
below, ending at 5:00 p.m., Pacific time, on March 11, 2008, 210,000 fully paid
and nonassessable shares of the common stock, par value $0.001 per share (the
"Warrant Shares"), of the Company, at a price of $1.83 per share, subject to
adjustments as provided below (the "Purchase Price"). As used herein, the term
"Stock" shall mean the Company's presently authorized common stock or any stock
into or for which such common stock may hereafter be converted or exchanged
prior to or concurrent with the exercise of this Warrant.

1.Expiration. This Warrant shall expire upon the first to occur of the
following: (i) 5:00 p.m., Pacific time, on March 11, 2008; and (ii) the sale of
all or substantially all of the assets of the Company or an acquisition of the
Company by another corporation or entity by consolidation, merger or other
reorganization or series of related transactions in which the holders of the
Company's outstanding voting stock immediately prior to such transaction own,
immediately after such transaction, securities representing less than fifty
percent (50%) of the voting power of the surviving corporation, the surviving
entity or the entity that controls such surviving entity (such sale of assets or
acquisition, a "Merger or Consolidation").

2.Exercise of Warrant. (a)Exercisability of the Warrant. This Warrant will
become exercisable on the Exercisability Date.

(b)Full Exercise. This Warrant may be exercised by the Holder at any time during
the period commencing on the Exercisability Date and ending upon its expiration
for the full number of Warrant Shares by surrendering this Warrant and the
Notice of Exercise attached hereto as Exhibit A properly endorsed to the
Company's principal office, accompanied by payment in cash, by check or by wire
transfer in an amount equal to the product of the Purchase Price and the number
of Warrant Shares indicated on the face of this Warrant.

(c)Net Issue Exercise. In lieu of exercising this Warrant pursuant to
Section 2(b) above, the Holder may elect to receive a number of shares equal to
the value (as determined below) of this Warrant by surrender of this Warrant at
the principal office of the Company together with

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Notice of Exercise. In such event, the Company shall issue to the Holder a
number of shares computed using the following formula:

    X   =   Y(A-B)

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A    

where X =   the number of Shares to be issued to the Holder. Y =   the number of
Shares subject to this Warrant. A =   the fair market value of one share of the
Company's common stock as determined by taking the average of the closing price
for the ten most recent trading days ending on the date of exercise. B =   the
Exercise Price (as adjusted to the date of such calculation).

(d)Taxes. The Company will not be required to pay any tax imposed in connection
with any transfer involved in the issuance of a Warrant or a certificate for
shares of Stock in any name other than that of the original holder hereof, and
in such case, the Company will not be required to issue or deliver any stock
certificate or warrant until such tax is paid.

        3.     Representations and Covenants of the Holder. This Warrant has
been issued by the Company in reliance upon the following representations and
covenants of the Holder:

(a)Investment Purpose. The Stock issuable upon exercise of the Holder's rights
contained herein will be acquired for investment and not with a view to the sale
or distribution of any part thereof, and the Holder has no present intention of
selling or engaging in any public distribution of the same except pursuant to a
registration or exemption.

(b)Private Issue. The Holder understands (i) that the Stock issuable upon
exercise of this Warrant is not registered under the Act or qualified under
applicable state securities laws on the ground that the issuance contemplated by
this Warrant will be exempt from the registration and qualifications
requirements thereof, and (ii) that the Company's reliance on such exemption is
predicated on the representations set forth in this Section 3.

(c)Disposition of Holder's Rights. This Warrant and all rights hereunder are
non-transferable; provided, however, that the Holder may transfer this Warrant
and the rights hereunder, in part or whole, to any subsidiary, parent,
affiliate, general partner or limited partner of the Holder.

The Stock issuable upon exercise of this Warrant is non-transferable, except in
accordance with the terms of this provision. Notwithstanding the foregoing, the
restrictions imposed upon the transferability of shares of the Stock do not
apply to transfers by the Holder, in part or whole, to any subsidiary, parent,
affiliate, general partner or limited partner of the Holder, and shall terminate
as to any particular share of Stock when (1) the transfer of such security shall
have been effectively registered under the Act and transferred by the Holder
thereof in accordance with such registration, or (2) such security shall have
been sold without registration in compliance with Rule 144 under the Act or
(3) a letter shall have been issued to the Holder at its request by the staff of
the Securities and Exchange Commission or a ruling shall have been issued to the
Holder at its request by such Commission stating that no action shall be
recommended by such staff or taken by such Commission, as the case may be, if
such security is transferred without registration under the Act in accordance
with the conditions set forth in such letter or ruling and such letter or ruling
specifies that no subsequent restrictions on transfer are required. Whenever the
Stock issuable upon exercise of this Warrant may be sold pursuant to
Rule 144(k), the restrictions imposed herein shall terminate, the Holder or
holder of a share of Stock issued upon exercise of this Warrant as to which such
restrictions have terminated shall be entitled to receive from the Company,

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without expense to such holder, one or more new certificates for the Warrant or
for such shares of Stock not bearing any restrictive legend.

(d)Financial Risk. The Holder has such knowledge and experience in financial and
business matters as to be capable of evaluating the merits and risks of its
investment, and has the ability to bear the economic risks of its investment.

(e)Risk of No Registration. The Holder understands that if a registration
statement covering the transfer of the Stock under the Act is not in effect when
it desires to sell the Stock issuable upon exercise of this Warrant, it may be
required to hold such securities for an indefinite period. The Holder also
understands that any sale of Stock issuable upon exercise of this Warrant which
might be made by it in reliance upon Rule 144 under the Act may be made only in
accordance with the terms and conditions of that Rule.

        4.     Delivery of Stock Certificates on Exercise. Promptly after the
exercise of this Warrant and the payment of the Purchase Price pursuant to
Section 2(b) or after the net exercise of this Warrant pursuant to Section 2(c),
the Company will issue to the Holder or upon the order of the Holder hereof, a
certificate or certificates for the number of whole shares of Stock to which the
Holder is entitled; provided, however, that (i) the Holder shall have furnished
to the Company at the time of such exercise a signed Investment Representation
Statement substantially in the form attached hereto as Exhibit B and (ii) the
Company will place on each certificate the following legend:

"THE SECURITIES REPRESENTED HEREBY HAVE BEEN ACQUIRED FOR INVESTMENT AND HAVE
NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT").
THESE SECURITIES MAY NOT BE SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH
REGISTRATION OR AN EXEMPTION THEREFROM UNDER THE ACT."

Furthermore, the Company will place on each certificate any legend required by
any applicable state blue sky law.

        5.     Adjustments for Dividends in Other Stock or Property;
Reclassifications. The Purchase Price and the number and type of Warrant Shares
and/or other property issuable upon exercise of this Warrant shall be
appropriately and proportionately adjusted to reflect any stock dividend, stock
split, combination of shares, reclassification, recapitalization, any corporate
reorganization other than as provided in Section 1 hereof or other similar event
affecting the number or character of outstanding Warrant Shares, so that the
number and type of securities and/or other property issuable upon exercise of
this Warrant shall be equal to that which would have been issuable with respect
to the number of Warrant Shares subject hereto at the time of such event, had
such Warrant Shares then been outstanding.

        6.     Certificate as to Adjustments. In each case of an adjustment in
the Purchase Price or in the shares of Stock or other stock, securities or
property receivable on the exercise of the Warrant, the Company, at its expense,
will compute such adjustment in accordance with the terms of the Warrant and
prepare a certificate setting forth such adjustment and showing in detail the
facts upon which the adjustment is based. The Company will mail a copy of each
such certificate to the Holder of the Warrant outstanding at that time.

        7.     Notices of Record Date. In case (i) the Company takes a record of
the holders of its Stock (or other stock or securities at the time receivable
upon the exercise of the Warrant) for the purpose of entitling them to receive
any dividend or other distribution, or any right to subscribe for or purchase
any shares of stock of any class or any other securities; or (ii) of any capital
reorganization of the Company, any reclassification of the common stock of the
Company, any consolidation or merger of the Company with or into another
corporation, including, without limitation, any Merger or Consolidation, or any
conveyance of all or substantially all of the assets of the Company to another

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corporation; or (iii) of any voluntary dissolution, liquidation or winding-up of
the Company; then, in each such case, the Company will mail or cause to be
mailed to each Holder of a Warrant at the time outstanding a notice specifying,
as the case may be, (a) the date on which a record is to be taken for the
purpose of such dividend, distribution or right, and stating the amount and
character of such dividend, distribution or right, or (b) the date on which such
reorganization, reclassification, consolidation, merger, conveyance,
dissolution, liquidation or winding-up is to take place, and time, if any is to
be fixed, as of which the holders of record of Stock (or such other stock or
securities at the time receivable upon the exercise of the Warrant) will be
entitled to exchange their shares of Stock (or such other stock or securities)
for securities or other property deliverable upon such reorganization,
reclassification, consolidation, merger, conveyance, dissolution, liquidation or
winding-up, and, in the case of a reorganization, consolidation, merger or
conveyance, the fair market value of such securities or other property as
determined by the Board of Directors of the Company. Such notice shall be mailed
at least ten (10) days prior to the date specified therein; provided, however,
that in the event of a Merger or Consolidation the Company shall use its best
efforts to provide such notice in accordance with Section 11 below at least
twenty-one (21) days prior to the closing date of such Merger or Consolidation
and, in any event, shall provide such notice in accordance with Section 11 below
at least fifteen (15) days prior to such closing date.

        8.     Reservation of Stock Issuable on Exercise of Warrant. The Company
will at all times reserve and keep available, solely for issuance and delivery
upon the exercise of this Warrant, all such shares of Stock and other stock, or
such other stock, securities and property as from time to time are receivable
upon the exercise of the Warrant.

        9.     Exchanges of Warrant. Subject to the provisions of Section 3(c)
above, upon surrender for exchange of this Warrant (in negotiable form, if not
surrendered by the Holder named on the face thereof) to the Company at its
principal office, the Company, at its expense, will issue and deliver a new
Warrant or Warrants exercisable in the aggregate for the same number of shares
of Stock, in the denomination or denominations requested, to or on the order of
such Holder upon payment by such Holder of any applicable transfer taxes;
provided, however, that any transferee of the Warrant shall be required to make
the representations set forth in Exhibit B attached hereto.

        10.   Replacement of Warrant. Upon receipt of evidence reasonably
satisfactory to the Company of the loss, theft, destruction or mutilation of
this Warrant and (in the case of loss, theft or destruction) upon delivery of an
indemnity agreement in such reasonable amount as the Company may determine, or
(in the case of mutilation) upon surrender and cancellation thereof, the Company
at its expense, will issue a replacement warrant in substantially identical form
to this Warrant.

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        11.   Notices. Any notices, demand, offer, request or other
communication required or permitted to be given by either the Company or a
Holder (collectively, a "Notice") pursuant to the terms of this Agreement, if
delivered to the Holder, shall be sent to the following address:

Sun Microsystems, Inc.
4150 Network Circle
Santa Clara, California 95054     Attention:     Telephone:   (408) 276-        
    Facsimile:   (408) 276-            
With a copy to:
 
 

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or at such other addresses provided to the Company or such other address as a
party may request by notifying the other in writing.

(a)Any Notice shall be delivered in writing. Any such Notice shall be deemed
effectively given the earlier of (i) when received, (ii) when delivered
personally, (iii) one (1) business day after being delivered by facsimile (with
receipt of appropriate confirmation), (iv) one (1) business day after being
deposited with an overnight courier service and (v) four (4) days after being
deposited in the U.S. mail, First Class with postage prepaid.

12.Change; Waiver. Neither this Warrant nor any term hereof may be changed,
waived, discharged or terminated orally, but only by an instrument in writing
signed by the party against which enforcement of the change, waiver, discharge
or termination is sought.

13.No Fractional Shares or Script. No fractional shares or script representing
fractional shares shall be issued upon the exercise of this Warrant, but in lieu
of such fractional shares the Company shall make a cash payment therefor upon
the basis of the Purchase Price then in effect.

14.No Rights as Stockholder. This Warrant does not entitle the Holder to any
voting rights or other rights as a stockholder of the Company prior to the
exercise of this Warrant.

15.Headings. The headings in this Warrant are for purposes of reference only and
shall not be deemed to constitute a part hereof.

16.Counterparts. This Warrant may be executed in two or more counterparts, each
of which shall be deemed an original and all of which together shall constitute
one instrument.

17.Governing Law. This Warrant is delivered in the State of Delaware and shall
be construed in accordance with and governed by the laws of such state.

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18.Confidentiality; No Public Disclosure. The terms and conditions of this
Warrant are confidential. The Holder shall not make any public disclosure
concerning the terms and conditions of this Warrant without the prior written
consent of the Company.

Dated: March     , 2003   CALDERA INTERNATIONAL, INC.
 
 
/s/  DARL MCBRIDE      

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Signature of Authorized Signatory
 
 
Darl McBride, CEO

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Print Name and Title
Agreed and accepted:
 
 
Dated: March     , 2003
 
SUN MICROSYSTEMS, INC.
 
 
/s/  BRIAN SUTPHIN      

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Signature of Authorized Signatory
 
 
Brian Sutphin, Vice President

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Print Name and Title

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EXHIBIT A
NOTICE OF EXERCISE

TO: CALDERA INTERNATIONAL, INC.

        1.     The undersigned hereby elects to purchase
                         shares of Common Stock of Caldera International
pursuant to the terms of the attached Warrant.

        2.     Exercise (Please initial the blank):

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  The undersigned elects to exercise the attached Warrant by means of a cash
payment, and tenders herewith payment in full for the purchase price of the
shares being purchased, together with all applicable transfer taxes, if any.

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The undersigned elects to exercise the attached Warrant by means of a net issue
exercise pursuant to Section 2(c) of the Warrant.

3.Please issue a certificate, or certificates representing said shares of stock,
in the name of the undersigned or in such other name as are specified below:

   

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(Name)        

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(Address)    

4.The undersigned represents that the aforesaid shares of stock are being
acquired for the account of the undersigned for investment and not with a view
to, or for resale in connection with, the distribution thereof and that the
undersigned has no present intention of distributing or reselling such shares.
In support thereof, the undersigned has executed an Investment Representation
Statement attached hereto as Exhibit B.

 
 

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Name of Warrantholder
 
 

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Signature of Authorized Signatory
 
 

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Print Name and Title
 
 

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Date

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EXHIBIT B
INVESTMENT REPRESENTATION STATEMENT

                                 Shares of Common Stock
of Caldera International, Inc.

        In connection with the acquisition of the above-listed securities the
undersigned hereby represents to Caldera International, Inc. (the "Company") as
follows:

1.The stock to be received upon the exercise of the Warrant will be acquired for
investment for its own account, not as a nominee or agent, and not with a view
to the sale or distribution of any part thereof, and it has no present intention
of selling, granting participation in or otherwise distributing the same, but
subject, nevertheless, to any requirement of law that the disposition of its
property shall at all times be within its control. By executing this Statement,
the undersigned further represents that it does not have any contract,
undertaking, agreement or arrangement with any person to sell, transfer, or
grant participations to such person or to any third person, with respect to the
stock acquired upon exercise of the Warrant.

2.The undersigned understands that any stock acquired upon exercise of the
Warrant at the time of issuance may not be registered under the Securities Act
of 1933, as amended (the "Act"), and applicable state securities laws on the
ground that the issuance of securities is exempt pursuant to Section 4(2) of the
Act, and state law exemptions relating to offers and sales not by means of a
public offering and that the Company's reliance on such exemptions is predicated
on the undersigned's representations set forth herein.

3.The undersigned agrees that in no event will it make a disposition of any
stock acquired upon the exercise of the Warrant unless and until (i) it shall
have notified the Company of the proposed disposition and shall have furnished
the Company with a statement of the circumstances surrounding the proposed
disposition, and (ii) if requested by the Company, it shall have furnished the
Company with an opinion of counsel satisfactory to the Company and its counsel
to the effect that (A) appropriate action necessary for compliance with the Act
and any applicable state securities laws has been taken or an exemption from the
registration requirements of the Act and such laws is available, and (B) that
the proposed transfer will not violate any of said laws.

4.The undersigned represents that it is able to fend for itself in connection
with its purchase of stock as contemplated by this Statement, has such knowledge
and experience in financial and business matters as to be capable of evaluating
the merits and risks of its investment and that it has the ability to bear the
economic risks (including the risk of a total loss) of its investment.

5.The undersigned acknowledges that the stock acquired upon exercise of the
Warrant must be held indefinitely unless subsequently registered under the Act
or an exemption from such registration is available. The undersigned is aware of
the provisions of Rule 144 promulgated under the Act which permit limited resale
of shares purchased in a private placement subject to the satisfaction of
certain conditions, including, among other things, the existence of a public
market for the shares, the availability of certain current public information
about the Company, the resale occurring not less than one year after a party has
purchased and paid for the security to be sold, the sale being through a
"broker's transaction" or in transactions directly with a "market maker"

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(as provided by Rule 144(f)) and the number of shares being sold during any
three-month period not exceeding specified limitations.

 
 

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Name of Warrantholder
 
 

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Signature of Authorized Signatory
 
 

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Print Name and Title
 
 

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Date

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COMMON STOCK WARRANT CALDERA INTERNATIONAL, INC.
EXHIBIT A NOTICE OF EXERCISE
EXHIBIT B INVESTMENT REPRESENTATION STATEMENT