Form of Option Grant Notice and Option Agreement: U.S. Director



 Exhibit 10.2.4 
 CYAN, INC. 
 2006 STOCK PLAN 

NOTICE OF STOCK OPTION GRANT 
 (Director – US) 
 «OPTIONEE» 

You have been granted an option to purchase Common Stock of Cyan, Inc. (the “Company”) as follows: 

 

			
	 Board Approval Date:
	  	
		
	 Date of Grant (Later of Board
	  	
	 Approval Date or Commencement
 of Employment/Consulting):
	  	
		
	 Exercise Price per Share:
	  	$
		
	 Total Number of Shares subject to this Option (the “Shares”):
	  	
		
	 Total Exercise Price:
	  	$
		
	 Type of Option:
	  	             Incentive Stock Option
		
		  	     X     Nonstatutory Stock Option
		
	 Expiration Date:
	  	
		
	 Vesting Commencement Date:
	  	
		
	 Vesting/Exercise Schedule:
	  	[Insert Vesting Schedule]
		
		  	In the event the Company consummates a Change of Control Transaction (as defined below) and you are, as of immediately prior to the closing of such Change of Control Transaction, in
Continuous Service Status with the Company, the vesting of this Option shall accelerate such that the Shares underlying this Option, to the extent not already vested, shall become fully vested effective immediately prior to the closing of such
Change of Control Transaction.
		
		  	For purposes of this Notice of Stock Option Grant:









			
		  	“Change of Control Transaction” shall mean the Company’s (A) sale, conveyance or other disposition of (1) all or substantially all of its assets, property or
business (including the granting of one or more exclusive licenses of all or substantially all of the Company’s intellectual property, the cumulative effect of which results in the Company retaining insufficient intellectual property rights to
continue operation as a going concern) or (2) 50% or more of its capital stock or (B) merger with or into or consolidation with any other corporation, limited liability company or other entity (other than to a wholly-owned subsidiary of the
Company), provided, however, that none of the following shall be considered a Change of Control Transaction: (i) a merger effected exclusively for the purpose of changing the domicile of the Company, (ii) an equity financing in which
the Company is the surviving corporation, (iii) a merger, consolidation or similar transaction in which the stockholders of the Company immediately prior to the transaction own, directly or indirectly, more than 50% of the voting stock of the
surviving corporation immediately following the transaction (taking into account only stock of the Company held by such stockholders prior to the transaction), or (iv) the granting of one or more exclusive licenses of all or substantially all of the
Company’s intellectual property to one or more wholly-owned subsidiaries of the Company;
		
	 Termination Period:
	  	This Option may be exercised for 90 days after termination of Optionee’s employment or consulting relationship except as set out in Section 5 of the Stock Option Agreement
(but in no event later than the Expiration Date). Optionee is responsible for keeping track of these exercise periods following termination for any reason of his or her service relationship with the Company. The Company will not provide further
notice of such periods.
		
	 Transferability:
	  	This Option may not be transferred.

 By your signature and the signature of the Company’s representative below, you and the Company agree
that this option is granted under and governed by the terms and conditions of the Cyan, Inc. 2006 Stock Plan and the Stock Option Agreement, both of which are attached and made a part of this document. 

  
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 In addition, you agree and acknowledge that your rights to any Shares underlying the Option
will be earned only as you provide services to the Company over time, that the grant of the Option is not as consideration for services you rendered to the Company prior to your Vesting Commencement Date, and that nothing in this Notice or the
attached documents confers upon you any right to continue your employment or consulting relationship with the Company for any period of time, nor does it interfere in any way with your right or the Company’s right to terminate that relationship
at any time, for any reason, with or without cause. 
 The per share “Exercise Price” is intended to be at least equal
to the fair market value of the Company’s Common Stock at the date of grant. The Company has attempted in good faith to make the fair market value determination in compliance with applicable tax law although there can be no certainty that the
IRS will agree. If the IRS does not agree and asserts the fair market value at the time of grant is higher than the Exercise Price, the IRS could seek to impose greater taxes on you, including interest and penalties under Internal Revenue Code
Section 409A. While we think this is an unlikely event, we cannot provide absolute assurance and you may want to consult your own tax adviser with any questions. 
 [Signature Page Follows] 

  
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		  		  	CYAN, INC.	  	
				
	  
	  		  	By:                             
                                         
      	  	
	«OPTIONEE»	  		  		  	
		  		  	Name:                             
                                         
 	  	
				
		  		  	Title:                            
                                         
    	  	

  
 IRS
Circular 230 Disclosure: To ensure compliance with requirements imposed by the IRS, we inform you that any tax advice contained in this communication (including any attachments) (i) was not intended or written to be used, and cannot be
used, for the purpose of avoiding any tax penalty and (ii) was not written to promote, market or recommend the transaction or matter addressed in the communication. Each taxpayer should seek advice based on the taxpayer’s particular
circumstances from an independent tax advisor. 

  
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 CYAN, INC. 
 2006 STOCK PLAN 
 STOCK OPTION AGREEMENT 

1. Grant of Option. Cyan, Inc., a Delaware corporation (the “Company”), hereby grants to
«OPTIONEE» (“Optionee”), an option (the “Option”) to purchase the total number of shares of Common Stock (the “Shares”) set forth in the Notice of Stock Option
Grant (the “Notice”), at the exercise price per Share set forth in the Notice (the “Exercise Price”) subject to the terms, definitions and provisions of the Cyan, Inc. 2006 Stock Plan (the “Plan”)
adopted by the Company, which is incorporated in this Agreement by reference. Unless otherwise defined in this Agreement, the terms used in this Agreement shall have the meanings defined in the Plan. 

2. Designation of Option. This Option is intended to be an Incentive Stock Option as defined in Section 422 of the
Code only to the extent so designated in the Notice, and to the extent it is not so designated or to the extent the Option does not qualify as an Incentive Stock Option under Applicable Law, then it is intended to be and will be treated as a
Nonstatutory Stock Option. 
 Notwithstanding the above, if designated as an Incentive Stock Option, in the event that the
Shares subject to this Option (and all other Incentive Stock Options granted to Optionee by the Company or any Parent or Subsidiary, including under other plans of the Company) that first become exercisable in any calendar year have an aggregate
fair market value (determined for each Share as of the date of grant of the option covering such Share) in excess of $100,000, the Shares in excess of $100,000 shall be treated as subject to a Nonstatutory Stock Option, in accordance with
Section 5(c) of the Plan. 
 3. Exercise of Option. This Option shall be exercisable during its term in
accordance with the Vesting/Exercise Schedule set out in the Notice and with the provisions of Section 9 of the Plan as follows: 
 (a) Right to Exercise. 
 (i) This Option may not be exercised
for a fraction of a share. 
 (ii) In the event of Optionee’s death, disability or other termination of employment,
the exercisability of the Option is governed by Section 5 below, subject to the limitations contained in this Section 3. 
 (iii) In no event may this Option be exercised after the Expiration Date of the Option as set forth in the Notice. 

  








 (b) Method of Exercise. 

(i) This Option shall be exercisable by execution and delivery of the Exercise Notice and Restricted Stock Purchase Agreement
attached hereto as Exhibit A (the “Exercise Agreement”) or of any other form of written notice approved for such purpose by the Company which shall state Optionee’s election to exercise the Option, the number of Shares
in respect of which the Option is being exercised, and such other representations and agreements as to the holder’s investment intent with respect to such Shares as may be required by the Company pursuant to the provisions of the Plan. Such
written notice shall be signed by Optionee and shall be delivered to the Company by such means as are determined by the Plan Administrator in its discretion to constitute adequate delivery. The written notice shall be accompanied by payment of the
Exercise Price. This Option shall be deemed to be exercised upon receipt by the Company of such written notice accompanied by the Exercise Price. 
 (ii) As a condition to the exercise of this Option and as further set forth in Section 12 of the Plan, Optionee agrees to make adequate provision for federal, state or other tax withholding
obligations, if any, which arise upon the vesting or exercise of the Option, or disposition of Shares, whether by withholding, direct payment to the Company, or otherwise. 
 (iii) The Company is not obligated, and will have no liability for failure, to issue or deliver any Shares upon exercise of the Option unless such issuance or delivery would comply with the
Applicable Laws, with such compliance determined by the Company in consultation with its legal counsel. This Option may not be exercised until such time as the Plan has been approved by the stockholders of the Company, or if the issuance of such
Shares upon such exercise or the method of payment of consideration for such shares would constitute a violation of any applicable federal or state securities or other law or regulation, including any rule under Part 221 of Title 12 of the
Code of Federal Regulations as promulgated by the Federal Reserve Board. As a condition to the exercise of this Option, the Company may require Optionee to make any representation and warranty to the Company as may be required by the Applicable
Laws. Assuming such compliance, for income tax purposes the Shares shall be considered transferred to Optionee on the date on which the Option is exercised with respect to such Shares. 

4. Method of Payment. Payment of the Exercise Price shall be by any of the following, or a combination of the following, at
the election of Optionee: 
 (a) cash or check; 
 (b) cancellation of indebtedness; 
 (c) subject to any requirements
of Applicable Laws, delivery of Optionee’s promissory note having such recourse, interest, security and redemption provisions as the Administrator determines to be appropriate; 

  
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 (d) by surrender of other shares (meaning, shares not subject to this Option) of
Common Stock of the Company that have an aggregate Fair Market Value on the date of surrender equal to the Exercise Price of the Shares as to which the Option is being exercised. In the case of shares acquired directly or indirectly from the
Company, such shares must have been owned by Optionee for more than six (6) months on the date of surrender (or such other period of time as is necessary to avoid the Company’s incurring adverse accounting charges); or 

(e) following the date, if any, upon which the Common Stock is a Listed Security, and if the Company is at such time permitting
“same day sale” cashless brokered exercises, delivery of a properly executed exercise notice together with irrevocable instructions to a broker participating in such cashless brokered exercise program to deliver promptly to the Company the
amount required to pay the exercise price (and applicable withholding taxes). 
 5. Termination of Relationship; Early
Termination of Option. Following the date of termination of Optionee’s Continuous Service Status for any reason (the “Termination Date”), Optionee may exercise the Option only as set forth in the Notice and this
Section 5. To the extent that Optionee is not entitled to exercise this Option as of the Termination Date, or if Optionee does not exercise this Option within the Termination Period set forth in the Notice or the termination periods set forth
below, the Option shall terminate in its entirety. In no event, may any Option be exercised after the Expiration Date of the Option as set forth in the Notice. 
 (a) Termination. In the event of termination of Optionee’s Continuous Service Status other than as a result of Optionee’s disability or death or for Cause (as defined in the Plan),
Optionee may, to the extent Optionee is vested in the Option Shares at the Termination Date, exercise this Option during the Termination Period set forth in the Notice. 
 (b) Other Terminations of Relationship. In connection with any termination other than a termination covered by Section 5(a), Optionee may exercise the Option only as described below:

 (i) Termination upon Disability of Optionee. In the event of termination of Optionee’s Continuous Service
Status as a result of Optionee’s disability, Optionee may, but only within twelve months from the Termination Date, exercise this Option to the extent Optionee was vested in the Option Shares as of such Termination Date. 

(ii) Death of Optionee. In the event of the death of Optionee (a) during the term of this Option and while an Employee
or Consultant of the Company and having been in Continuous Service Status since the date of grant of the Option, or (b) within thirty (30) days after Optionee’s Termination Date, the Option may be exercised at any time within twelve
months following the date of death by Optionee’s estate or by a person who acquired the right to exercise the Option by bequest or inheritance, but only to the extent Optionee was vested in the Option as of the Termination Date. 

  
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 (iii) Termination for Cause. In the event Optionee’s Continuous Service
Status is terminated for Cause, the Option shall terminate immediately upon such termination for Cause as set forth in Section 9(b)(iv) of the Plan. In the event Optionee’s employment or consulting relationship with the Company is
suspended pending investigation of whether such relationship shall be terminated for Cause, all Optionee’s rights under the Option, including the right to exercise the Option, shall be suspended during the investigation period, also as set
forth in Section 9(b)(iv) of the Plan. 
 (c) Termination of Option. This Option may terminate prior to its
Expiration Date and prior to the dates specified under Section 5(a) and (b) above under certain circumstances as set forth in Section 14 of the Plan. 
 6. Non-Transferability of Option. Except as otherwise set forth in the Notice, this Option may not be transferred in any manner otherwise than by will or by the laws of descent or
distribution and may be exercised during the lifetime of Optionee only by him or her. The terms of this Option shall be binding upon the executors, administrators, heirs, successors and assigns of Optionee. 

7. Tax Consequences. The Company has not provided any tax advice with respect to this Option or the disposition of the
Shares. Optionee should obtain advice from an appropriate independent professional adviser with respect to the taxation implications of the grant, exercise, assignment, release, cancellation or any other disposal of this Option (each, a
“Trigger Event”) and on any subsequent sale or disposition of the Shares. Optionee should also take advice in respect of the taxation indemnity provisions under Section 8 below. The per share Exercise Price of the Option is
intended to be at least equal to the fair market value of the Company’s Common Stock at the date of grant. The Company has attempted in good faith to make the fair market value determination in compliance with applicable tax law although there
can be no certainty that the IRS will agree. If the IRS does not agree and asserts the fair market value at the time of grant is higher than the Exercise Price, the IRS could seek to impose greater taxes on Optionee, including interest and penalties
under Internal Revenue Code Section 409A. While the Company thinks this is an unlikely event, the Company cannot provide absolute assurance and Optionee may want to consult Optionee’s own tax adviser with any questions. 

8. Optionee’s Taxation Indemnity. 
 (a) To the extent permitted by law, Optionee hereby agrees to indemnify and keep indemnified the Company and the Company as trustee for and on behalf of any affiliate entity, in respect of any
liability or obligation of the Company and/or any affiliate entity to account for income tax or any other taxation provisions under the laws of Optionee’s country or citizenship and/or residence to the extent arising from a Trigger Event or
arising out of the acquisition, retention and disposal of the Shares. 
 (b) The Company shall not be obliged to allot and
issue any of the Shares or any interest in the Shares unless and until Optionee has paid to the Company such sum as is, in the opinion of the Company, sufficient to indemnify the Company in full against any liability the Company has for any amount
of, or representing, income tax or any other tax arising from a Trigger Event (the “Option Tax Liability”), or Optionee has made such other arrangement as in the opinion of the Company will ensure that the full amount of any Option
Tax Liability will be recovered from Optionee within such period as the Company may then determine. 

  
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 9. Data Protection. 

(a) To facilitate the administration of the Plan and this Agreement, it will be necessary for the Company (or its payroll
administrators) to collect, hold and process certain personal information about Optionee and to transfer this data to certain third parties such as brokers with whom Optionee may elect to deposit any share capital under the Plan. Optionee consents
to the Company (or its payroll administrators) collecting, holding and processing Optionee’s personal data and transferring this data to the Company or any other third parties insofar as is reasonably necessary to implement, administer and
manage the Plan. 
 (b) Optionee understands that Optionee may, at any time, view Optionee’s personal data, require
any necessary corrections to it or withdraw the consents herein in writing by contacting the Company, but acknowledges that without the use of such data it may not be practicable for the Company to administer Optionee’s involvement in the Plan
in a timely fashion or at all and this may be detrimental to Optionee. 
 10. Lock-Up Agreement. In connection
with the initial public offering of the Company’s securities and upon request of the Company or the underwriters managing any underwritten offering of the Company’s securities, Optionee hereby agrees not to sell, make any short sale of,
loan, grant any option for the purchase of, or otherwise dispose of any securities of the Company however and whenever acquired (other than those included in the registration) without the prior written consent of the Company or such underwriters, as
the case may be, for such period of time (not to exceed 180 days but subject to such extension or extensions as may be required by the underwriters in order to publish research reports while complying with Rule 2711 of the National Association of
Securities Dealers, Inc.) from the effective date of such registration as may be requested by the Company or such managing underwriters and to execute an agreement reflecting the foregoing as may be requested by the underwriters at the time of the
public offering. 
 11. Governing Law. This Agreement and all acts and transactions pursuant hereto and the rights
and obligations of the parties hereto shall be governed, construed and interpreted in accordance with the laws of the State of Delaware, without giving effect to principles of conflicts of law. 

12. Effect of Agreement. Optionee acknowledges receipt of a copy of the Plan and represents that he or she is familiar with
the terms and provisions thereof (and has had an opportunity to consult counsel regarding the Option terms), and hereby accepts this Option and agrees to be bound by its contractual terms as set forth herein and in the Plan. Optionee hereby agrees
to accept as binding, conclusive and final all decisions and interpretations of the Plan Administrator regarding any questions relating to the Option. In the event of a conflict between the terms and provisions of the Plan and the terms and
provisions of the Notice and this Agreement, the Plan terms and provisions shall prevail. The Option, including the Plan, constitutes the entire agreement between Optionee and the Company on the subject matter hereof and supersedes all proposals,
written or oral, and all other communications between the parties relating to such subject matter. 

  
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 This Stock Option Agreement will be deemed to be signed by the Optionee upon the
Optionee’s signing of the Notice of Stock Option Grant to which it is attached. 

  
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 EXHIBIT A 
 CYAN, INC. 
 2006 STOCK PLAN 

EXERCISE NOTICE AND RESTRICTED STOCK PURCHASE AGREEMENT 

This Agreement (“Agreement”) is made as of             , by
and between Cyan, Inc., a Delaware corporation (the “Company”), and «OPTIONEE» (“Purchaser”). To the extent any capitalized terms used in this Agreement are not defined, they shall
have the meaning ascribed to them in the Company’s 2006 Stock Plan (the “Plan”). 
 1. Exercise of
Option. Subject to the terms and conditions hereof, Purchaser hereby elects to exercise his or her option to purchase             shares of the Common Stock (the
“Shares”) of the Company under and pursuant to the Plan and the Stock Option Agreement granted «GrantDate» (the “Option Agreement”). The purchase price for the Shares shall be
$«ExercisePrice» per Share for a total purchase price of $            . The term “Shares” refers to the purchased Shares and all securities received in
replacement of the Shares or as stock dividends or splits, all securities received in replacement of the Shares in a recapitalization, merger, reorganization, exchange or the like, and all new, substituted or additional securities or other
properties to which Purchaser is entitled by reason of Purchaser’s ownership of the Shares. 
 2. Time and Place of
Exercise. The purchase and sale of the Shares under this Agreement shall occur at the principal office of the Company simultaneously with the execution and delivery of this Agreement in accordance with the provisions of Section 3(b) of
the Option Agreement. On such date, the Company will deliver to Purchaser a certificate representing the Shares to be purchased by Purchaser (which shall be issued in Purchaser’s name) against payment of the exercise price therefor by Purchaser
by any method listed in Section 4 of the Option Agreement. 
 3. Limitations on Transfer. In addition to any
other limitation on transfer created by applicable securities laws, Purchaser shall not assign, encumber or dispose of any interest in the Shares except in compliance with the provisions below and applicable securities laws. 

(a) Right of First Refusal. Before any Shares held by Purchaser or any transferee of Purchaser (either being sometimes
referred to herein as the “Holder”) may be sold or otherwise transferred (including transfer by gift or operation of law), the Company or its assignee(s) shall have a right of first refusal to purchase the Shares on the terms and
conditions set forth in this Section 3(a) (the “Right of First Refusal”). 
 (i) Notice of Proposed
Transfer. The Holder of the Shares shall deliver to the Company a written notice (the “Notice”) stating: (i) the Holder’s bona fide intention to sell or otherwise transfer such Shares; (ii) the name of each
proposed purchaser or other transferee (“Proposed Transferee”); (iii) the number of Shares to be transferred to each 

  








 
Proposed Transferee; and (iv) the terms and conditions of each proposed sale or transfer. The Holder shall offer the Shares at the same price (the “Offered Price”) and upon
the same terms (or terms as similar as reasonably possible) to the Company or its assignee(s). 
 (ii) Exercise of Right
of First Refusal. At any time within thirty (30) days after receipt of the Notice, the Company and/or its assignee(s) may, by giving written notice to the Holder, elect to purchase all, but not less than all, of the Shares proposed to
be transferred to any one or more of the Proposed Transferees, at the purchase price determined in accordance with subsection (iii) below. 
 (iii) Purchase Price. The purchase price (“Purchase Price”) for the Shares purchased by the Company or its assignee(s) under this Section 3(a) shall be the Offered
Price. If the Offered Price includes consideration other than cash, the cash equivalent value of the non-cash consideration shall be determined by the Board of Directors of the Company in good faith. 

(iv) Payment. Payment of the Purchase Price shall be made, at the option of the Company or its assignee(s), in cash (by
check), by cancellation of all or a portion of any outstanding indebtedness, or by any combination thereof within 30 days after receipt of the Notice or in the manner and at the times set forth in the Notice. 

(v) Holder’s Right to Transfer. If all of the Shares proposed in the Notice to be transferred to a given Proposed
Transferee are not purchased by the Company and/or its assignee(s) as provided in this Section 3(a), then the Holder may sell or otherwise transfer such Shares to that Proposed Transferee at the Offered Price or at a higher price, provided that
such sale or other transfer is consummated within 60 days after the date of the Notice and provided further that any such sale or other transfer is effected in accordance with any applicable securities laws and the Proposed Transferee agrees in
writing that the provisions of this Section 3 shall continue to apply to the Shares in the hands of such Proposed Transferee. If the Shares described in the Notice are not transferred to the Proposed Transferee within such period, or if the
Holder proposes to change the price or other terms to make them more favorable to the Proposed Transferee, a new Notice shall be given to the Company, and the Company and/or its assignees shall again be offered the Right of First Refusal before any
Shares held by the Holder may be sold or otherwise transferred. 
 (vi) Exception for Certain Family Transfers.
Anything to the contrary contained in this Section 3(a) notwithstanding, the transfer of any or all of the Shares during Purchaser’s lifetime or on Purchaser’s death by will or intestacy to Purchaser’s Immediate Family or a trust
for the benefit of Purchaser’s Immediate Family shall be exempt from the provisions of this Section 3(a). “Immediate Family” as used herein shall mean spouse, lineal descendant or antecedent, father, mother, brother or
sister. In such case, the transferee or other recipient shall receive and hold the Shares so transferred subject to the provisions of this Section, and there shall be no further transfer of such Shares except in accordance with the terms of this
Section 3. 

  
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 (b) Involuntary Transfer. 

(i) Company’s Right to Purchase upon Involuntary Transfer. In the event, at any time after the date of this Agreement,
of any transfer by operation of law or other involuntary transfer (including death or divorce, but excluding a transfer to Immediate Family as set forth in Section 3(a)(vi) above) of all or a portion of the Shares by the record holder thereof,
the Company shall have an option to purchase all of the Shares transferred at the greater of the purchase price paid by Purchaser for the Shares pursuant to this Agreement (as adjusted for any stock splits, stock dividends and the like) or the Fair
Market Value of the Shares on the date of transfer. Upon such a transfer, the person acquiring the Shares shall promptly notify the Secretary of the Company of such transfer. The right to purchase such Shares shall be provided to the Company for a
period of thirty (30) days following receipt by the Company of written notice by the person acquiring the Shares. 
 (ii)
Price for Involuntary Transfer. With respect to any stock to be transferred pursuant to Section 3(b)(i), the Fair Market Value per Share shall be a price set by the Board of Directors of the Company in good faith using a
reasonable valuation method in a reasonable manner in accordance with Section 409A of the Code. The Company shall notify Purchaser or his or her executor of the price so determined within thirty (30) days after receipt by it of written
notice of the transfer or proposed transfer of Shares. However, if the Purchaser does not agree with the valuation as determined by the Board of Directors of the Company, the Purchaser shall be entitled to have the valuation determined by an
independent appraiser to be mutually agreed upon by the Company and the Purchaser and whose fees shall be borne equally by the Company and the Purchaser. 
 (c) Assignment. The right of the Company to purchase any part of the Shares may be assigned in whole or in part to any stockholder or stockholders of the Company or other persons or
organizations. 
 (d) Restrictions Binding on Transferees. All transferees of Shares or any interest therein will
receive and hold such Shares or interest subject to the provisions of this Agreement. Any sale or transfer of the Company’s Shares shall be void unless the provisions of this Agreement are satisfied. 

(e) Termination of Rights. The right of first refusal granted the Company by Section 3(a) above and the option to
repurchase the Shares in the event of an involuntary transfer granted the Company by Section 3(b) above shall terminate upon the first sale of Common Stock of the Company to the general public pursuant to a registration statement filed with and
declared effective by the Securities and Exchange Commission under the Securities Act of 1933, as amended (the “Securities Act”). Upon termination of the rights to repurchase and the right of first refusal described in Sections 3(a)
and 3(b) above, a new certificate or certificates representing the Shares not repurchased shall be issued, on request, without the legend referred to in Section 5(a)(ii) herein and delivered to Purchaser. 

  
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 4. Investment and Taxation Representations. In connection with the purchase
of the Shares, Purchaser represents to the Company the following: 
 (a) Purchaser is aware of the Company’s business
affairs and financial condition and has acquired sufficient information about the Company to reach an informed and knowledgeable decision to acquire the Shares. Purchaser is purchasing these securities for investment for his or her own account only
and not with a view to, or for resale in connection with, any “distribution” thereof within the meaning of the Securities Act or under any applicable provision of state law. Purchaser does not have any present intention to transfer the
Shares to any person or entity. 
 (b) Purchaser understands that the Shares have not been registered under the Securities Act by
reason of a specific exemption therefrom, which exemption depends upon, among other things, the bona fide nature of Purchaser’s investment intent as expressed herein. 
 (c) Purchaser further acknowledges and understands that the securities must be held indefinitely unless they are subsequently registered under the Securities Act or an exemption from such registration is
available. Purchaser further acknowledges and understands that the Company is under no obligation to register the securities. Purchaser understands that the certificate(s) evidencing the securities will be imprinted with a legend which prohibits the
transfer of the securities unless they are registered or such registration is not required in the opinion of counsel for the Company. 
 (d) Purchaser is familiar with the provisions of Rules 144 and 701, each promulgated under the Securities Act, which, in substance, permit limited public resale of “restricted securities”
acquired, directly or indirectly, from the issuer of the securities (or from an affiliate of such issuer), in a non-public offering subject to the satisfaction of certain conditions. Purchaser understands that the Company provides no assurances as
to whether he or she will be able to resell any or all of the Shares pursuant to Rule 144 or Rule 701, which rules require, among other things, that the Company be subject to the reporting requirements of the Securities Exchange Act of 1934, as
amended, that resales of securities take place only after the holder of the Shares has held the Shares for certain specified time periods, and under certain circumstances, that resales of securities be limited in volume and take place only pursuant
to brokered transactions. Notwithstanding this paragraph (d), Purchaser acknowledges and agrees to the restrictions set forth in paragraph (e) below. 
 (e) Purchaser further understands that in the event all of the applicable requirements of Rule 144 or 701 are not satisfied, registration under the Securities Act, compliance with Regulation A,
or some other registration exemption will be required; and that, notwithstanding the fact that Rules 144 and 701 are not exclusive, the Staff of the Securities and Exchange Commission has expressed its opinion that persons proposing to sell
private placement securities other than in a registered offering and otherwise than pursuant to Rule 144 or 701 will have a substantial burden of proof in establishing that an exemption from registration is available for such offers or sales,
and that such persons and their respective brokers who participate in such transactions do so at their own risk. 

  
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 (f) Purchaser understands that Purchaser may suffer adverse tax consequences as a result of
Purchaser’s purchase or disposition of the Shares. Purchaser represents that Purchaser has consulted any tax consultants Purchaser deems advisable in connection with the purchase or disposition of the Shares and that Purchaser is not relying on
the Company for any tax advice. 
 (g) Purchaser understands that the per share “Exercise Price” for the Shares is
intended to be at least equal to the fair market value of the Company’s Common Stock at the date of grant and that the Company has attempted in good faith to make the fair market value determination in compliance with applicable tax law
although there can be no certainty that the IRS will agree. Purchaser understands that if the IRS does not agree and asserts that the fair market value at the time of grant is higher than the Exercise Price, the IRS could seek to impose greater
taxes on Purchaser, including interest and penalties under Internal Revenue Code Section 409A. 
 5. Restrictive
Legends and Stop-Transfer Orders. 
 (a) Legends. The certificate or certificates representing the Shares
shall bear the following legends (as well as any legends required by applicable state and federal corporate and securities laws): 
  

	 	(i)	THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AND HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO, OR
IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF. NO SUCH SALE OR DISTRIBUTION MAY BE EFFECTED UNLESS EFFECTED PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR UNDER ANOTHER EXEMPTION AVAILABLE UNDER THE SECURITIES ACT OF 1933
(AS TO WHICH AVAILABILITY THE COMPANY MAY REQUIRE THE SELLER/TRANSFEROR TO PROVIDE AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY). 

  

	 	(ii)	THE SHARES REPRESENTED BY THIS CERTIFICATE MAY BE TRANSFERRED ONLY IN ACCORDANCE WITH THE TERMS OF AN AGREEMENT BETWEEN THE COMPANY AND THE STOCKHOLDER, A COPY OF WHICH
IS ON FILE WITH THE SECRETARY OF THE COMPANY. 


  
 5 








 (b) Stop-Transfer Notices. Purchaser agrees that, in order to ensure
compliance with the restrictions referred to herein, the Company may issue appropriate “stop transfer” instructions to its transfer agent, if any, and that, if the Company transfers its own securities, it may make appropriate notations to
the same effect in its own records. 
 (c) Refusal to Transfer. The Company shall not be required (i) to
transfer on its books any Shares that have been sold or otherwise transferred in violation of any of the provisions of this Agreement or (ii) to treat as owner of such Shares or to accord the right to vote or pay dividends to any purchaser or
other transferee to whom such Shares shall have been so transferred. 
 6. No Employment Rights. Nothing in this
Agreement shall affect in any manner whatsoever the right or power of the Company, or a parent or subsidiary of the Company, to terminate Purchaser’s employment or consulting relationship, for any reason, with or without cause. 

7. Lock-Up Agreement. In connection with the initial public offering of the Company’s securities and upon request of
the Company or the underwriters managing any underwritten offering of the Company’s securities, Purchaser agrees not to sell, make any short sale of, loan, grant any option for the purchase of, or otherwise dispose of any securities of the
Company however or whenever acquired (other than those included in the registration) without the prior written consent of the Company or such underwriters, as the case may be, for such period of time (not to exceed 180 days but subject to such
extension or extensions as may be required by the underwriters in order to publish research reports while complying with Rule 2711 of the National Association of Securities Dealers, Inc.) from the effective date of such registration as may be
requested by the Company or such managing underwriters and to execute an agreement reflecting the foregoing as may be requested by the underwriters at the time of the public offering. 

8. Tax Consequences. Purchaser should obtain advice from an appropriate independent professional adviser with
respect to the taxation implications of the grant, issuance, purchase, retention, assignment, release, cancellation, sale or any other disposal of the Shares (each, a “Trigger Event”). Participant should also take advice in respect
of the taxation indemnity provisions under Section 9 below. 
 9. Purchaser’s Taxation Indemnity.

 (a) To the extent permitted by law, Purchaser hereby agrees to indemnify and keep indemnified the Company and the Company as
trustee for and on behalf of any affiliate entity, in respect of any liability or obligation of the Company and/or any affiliate entity to account for income tax or any other taxation provisions under the laws of Purchaser’s country or
citizenship and/or residence to the extent arising from a Trigger Event. 
 (b) The Company shall not be obliged to allot and
issue any of the Shares or any interest in the Shares unless and until Purchaser has paid to the Company such sum as is, in the opinion of the Company, sufficient to indemnify the Company in full against any liability the Company has for any amount
of, or representing, income tax or any other tax arising from a 

  
 6 








 
Trigger Event (the “Shares Tax Liability”), or Purchaser has made such other arrangement as in the opinion of the Company will ensure that the full amount of any Shares Tax
Liability will be recovered from Purchaser within such period as the Company may then determine. 
 10. Data
Protection. 
 (a) To facilitate the administration of the Plan and this Agreement, it will be necessary for the Company
(or its payroll administrators) to collect, hold and process certain personal information about Purchaser and to transfer this data to certain third parties such as brokers with whom Purchaser may elect to deposit any share capital under the Plan.
Purchaser consents to the Company (or its payroll administrators) collecting, holding and processing Purchaser’s personal data and transferring this data to the Company or any other third parties insofar as is reasonably necessary to implement,
administer and manage the Plan. 
 (b) Purchaser understands that Purchaser may, at any time, view Purchaser’s personal
data, require any necessary corrections to it or withdraw the consents herein in writing by contacting the Company, but acknowledges that without the use of such data it may not be practicable for the Company to administer Purchaser’s
involvement in the Plan in a timely fashion or at all and this may be detrimental to Purchaser. 
 11.
Miscellaneous. 
 (a) Governing Law. This Agreement and all acts and transactions pursuant hereto and
the rights and obligations of the parties hereto shall be governed, construed and interpreted in accordance with the laws of the State of Delaware, without giving effect to principles of conflicts of law. 

(b) Entire Agreement; Enforcement of Rights. This Agreement sets forth the entire agreement and understanding of the parties
relating to the subject matter herein and merges all prior discussions between them. No modification of or amendment to this Agreement, nor any waiver of any rights under this Agreement, shall be effective unless in writing signed by the parties to
this Agreement. The failure by either party to enforce any rights under this Agreement shall not be construed as a waiver of any rights of such party. 
 (c) Severability. If one or more provisions of this Agreement are held to be unenforceable under applicable law, the parties agree to renegotiate such provision in good faith. In the event
that the parties cannot reach a mutually agreeable and enforceable replacement for such provision, then (i) such provision shall be excluded from this Agreement, (ii) the balance of the Agreement shall be interpreted as if such provision
were so excluded and (iii) the balance of the Agreement shall be enforceable in accordance with its terms. 
 (d)
Construction. This Agreement is the result of negotiations between and has been reviewed by each of the parties hereto and their respective counsel, if any; accordingly, this Agreement shall be deemed to be the product of all of the
parties hereto, and no ambiguity shall be construed in favor of or against any one of the parties hereto. 

  
 7 








 (e) Notices. Any notice required or permitted by this Agreement shall be in
writing and shall be deemed sufficient when delivered personally or sent by telegram or fax or forty-eight (48) hours after being deposited in the U.S. mail, as certified or registered mail, with postage prepaid, and addressed to the party to
be notified at such party’s address as set forth below or as subsequently modified by written notice. 
 (f)
Counterparts. This Agreement 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. 

(g) Successors and Assigns. The rights and benefits of this Agreement shall inure to the benefit of, and be enforceable by
the Company’s successors and assigns. The rights and obligations of Purchaser under this Agreement may only be assigned with the prior written consent of the Company. 
 [Signature Page Follows] 

  
 8 








 The parties have executed this Exercise Notice and Restricted Stock Purchase Agreement as
of the date first set forth above. 
  

			
	COMPANY:
	  
 CYAN, INC.

		
	By:	 	 
	  
 Name:
	 	 
	  
 Title:
	 	 


  

			
	PURCHASER:
	
	 
	«OPTIONEE»


  

			
	Address:	 	 
		 	 


 I,
                    , spouse of «Optionee», have read and hereby approve the foregoing Agreement. In consideration of the Company’s
granting my spouse the right to purchase the Shares as set forth in the Agreement, I hereby agree to be irrevocably bound by the Agreement and further agree that any community property or other such interest shall hereby be similarly bound by the
Agreement. I hereby appoint my spouse as my attorney-in-fact with respect to any amendment or exercise of any rights under the Agreement. 
  

			
		 	 
		 	Spouse of «Optionee»



  
 9 








 RECEIPT 

The undersigned hereby acknowledges receipt of Certificate
No.             for             shares of Common Stock of Cyan, Inc. 

 

					
	Dated:                     	  	 	  	
		  	«OPTIONEE»	  	


  








 RECEIPT 

Cyan, Inc. (the “Company”) hereby acknowledges receipt of (check as applicable): 

 

	 	            	A check in the amount of $                    


  

	 	            	The cancellation of indebtedness in the amount of
$                     

  

	 	            	A promissory note in the amount of $                    


  

	 	            	Certificate No.             representing
            shares of the Company’s Common Stock with a fair market value of $             


given by «Optionee» as consideration for Certificate No.             for
            shares of Common Stock of the Company. 
 Dated:
                         

 

			
	CYAN, INC.
		
	By:	 	 
		
	Name:	 	 
		
	Title: