Document:

EX-4.4

 Exhibit 4.4 
  

 
 THIS WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933
AS AMENDED (the “1933 ACT”), OR ANY STATE SECURITIES LAWS. THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED, OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL REASONABLY
SATISFACTORY TO YOU THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE 1933 ACT, OR ANY APPLICABLE STATE SECURITIES LAWS. 
 PLAIN ENGLISH
WARRANT AGREEMENT 
 This is a PLAIN ENGLISH WARRANT AGREEMENT dated November 13, 2014 by and between MEDALLIA, INC., a Delaware
corporation, and TRIPLEPOINT VENTURE GROWTH BDC CORP., a Maryland corporation. 
 The words “We”, “Us”, or “Our” refer to the
warrant holder, which is TRIPLEPOINT VENTURE GROWTH BDC CORP. The words “You” or “Your” refers to the issuer, which is MEDALLIA, INC., and not to any individual. The words “the Parties” refers to both TRIPLEPOINT
VENTURE GROWTH BDC CORP. and MEDALLIA, INC. This Plain English Warrant Agreement may be referred to as the “Warrant Agreement”. 
 The Parties
have entered into a Plain English Growth Capital Loan and Security Agreement dated as of November 13, 2014, the “Loan Agreement”. 
 In
consideration of such Loan Agreement, the Parties agree to the following mutual agreements and conditions set forth below: 
  

							
	 WARRANT
INFORMATION

	 Effective Date
	  	 Warrant Number
	  	 Loan Facility Number

	 November 13, 2014
	  	0881-GC-01	  	0881-GC-01
				
	 Warrant Coverage
	  	 Number of Shares
	  	 Price Per Share
	  	 Type of Stock

	 $300,000; up to an additional $700,000 as set forth in Section 1.
	  	55,814; up to an additional 130,232 as set forth in Section 1. Subject to adjustment as set forth this Warrant Agreement.	  	$5.375, subject to adjustment as set forth in this Warrant Agreement.	  	Series D Preferred Stock

  

					
	 OUR CONTACT
INFORMATION

	 Name
	  	 Address For Notices
	  	 Contact Person

	 TRIPLEPOINT VENTURE GROWTH BDC CORP.
	  	2755 Sand Hill Road, Ste. 150 Menlo Park, CA 94025 Tel: Fax:	  	Sajal Srivastava, President
Tel:
Fax:
email:

  

					
	 YOUR CONTACT
INFORMATION

	 Customer Name
	  	 Address For Notices
	  	 Contact Person

	 Medallia, Inc.
	  	 395 Page Mill Road, Suite 100

Palo Alto, CA 94306
	  	 Chris Watts, CFO

Tel:
 Fax:

  

	1.	 WHAT YOU AGREE TO GRANT US 

You grant to Us and We are entitled, upon the terms and subject to the conditions set forth in this Warrant Agreement, to purchase from You, at a price per
share equal to the Exercise Price, that number of fully paid and non-assessable shares of Your Warrant Stock equal to Three Hundred Thousand Dollars ($300,000), divided by the Exercise Price. 

In addition, You grant to Us and We are entitled, upon the terms and subject to the conditions set forth in this Warrant Agreement, to purchase from You, at a
price per share equal to the Exercise Price, an additional number of fully paid and non-assessable shares of Your Warrant Stock equal to three and one-half percent
(3.5%) of any amounts advanced under the Part 1 Commitment Amount of the Loan Agreement, divided by the Exercise Price. 
 The number of shares of Warrant
Stock and the Exercise Price of such Warrant Stock are subject to adjustment as provided in Section 4 hereof. 
 For purposes of this Warrant
Agreement, the following capitalized terms have the meanings given below: 
 “Exercise Price” means the lower of (a) $5.375 and
(b) the lowest per share price for which Your preferred stock is sold in the Next Round. 
 “Next Round” means the next bona
fide round of equity financing in which You issue and sell shares of your preferred stock for aggregate gross cash proceeds of at least $1,000,000 (excluding any amounts received upon conversion or cancellation of indebtedness) subsequent to the
Effective Date. 
 “Warrant Stock” means (a) the class and series of Your preferred stock issued in the Next Round, if the
lowest per share price for which such preferred stock is sold in the Next Round is less than $5.375, or (b) in all other cases, Your Series D Preferred Stock. For avoidance of doubt, if this Warrant Agreement is exercised prior to the Next
Round then this Warrant Agreement shall be exercisable for Your Series D Preferred Stock. 
 The Parties agree that this Warrant Agreement to purchase the
Warrant Stock has a fair market value equal to $100 and that $100 of the issue price of the investment will be allocable to the Warrant Agreement and the balance shall be allocable to the Loan Agreement for income tax purposes and the original issue
discount on the Loan Agreement shall be considered to be zero. 
  

	2.	 WHEN ARE WE ENTITLED TO PURCHASE YOUR WARRANT STOCK. 

The term of this Warrant Agreement and Our right to purchase Warrant Stock will begin the Effective Date, and shall be available for ten years from the
Effective Date, through and including November 13, 2014. 
  

	3.	 HOW WE MAY PURCHASE YOUR WARRANT STOCK. 

We may exercise Our purchase rights, in whole or in part, at any time, or from time to time, prior to the expiration of the term of this Warrant Agreement, by
giving You a completed and executed Notice of Exercise in the form attached as Exhibit I. Promptly upon receipt of the Notice of Exercise and in any event no later than twenty-one (21) days
after you have received Our Notice of Exercise and payment of the aggregate Exercise Price for the shares purchased, You will issue to Us a certificate for the number of shares of Warrant Stock that We have purchased and You will execute the
Acknowledgment of Exercise in the form attached hereto as Exhibit II indicating the number of shares which will be available to Us for future purchases, if any. 

We may pay for the Warrant Stock by either (i) cash or check, or (ii) by the net issuance method as determined below. If We elect the Net
Issuance method, You will issue Warrant Stock using the following formula: 
 X = Y(A-B)

             A 

 

					
	Where:	  	X =	  	the number of shares of Warrant Stock to be issued to Us.
			
		  	Y =	  	the number of shares of Warrant Stock We request to be exercised under this Warrant Agreement.
			
		  	A =	  	the fair market value of one share of Warrant Stock (as of the date of such calculation).
			
		  	B =	  	the Exercise Price (as of the date of such calculation).

  
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 For purposes of the above calculation, current fair market value of Warrant Stock shall mean with respect to
each share of Warrant Stock: 
 If the exercise is in connection with the initial public offering of Your Common Stock, and if Your registration
statement relating to such public offering has been declared effective by the SEC, then the fair market value per share shall be the product of (x) the initial “Price to Public” specified in the final prospectus of the offering and
(y) the number of shares of Common Stock into which each share of Warrant Stock is convertible at the time of such exercise; 
 If this Warrant
Agreement is exercised after, and not in connection with Your initial public offering, and: 
  

	 	•	 	 If Your Common Stock is traded on a securities exchange, the fair market value per share shall be the
product of (x) the average of the closing prices over a five (5) trading day period ending three (3) trading days before the day the current fair market value of the securities is being determined and (y) the number of shares of
Common Stock into which each share of Warrant Stock is convertible at the time of such exercise; or 

  

	 	•	 	 if Your Common Stock is actively traded
over-the-counter, the fair market value per share shall be the product of (x) the average of the closing bid and asked prices quoted on the NASDAQ system (or
similar system) over the five (5) trading day period ending three (3) trading days before the day the current fair market value of the securities is being determined and (y) the number of shares of Common Stock into which each share
of Warrant Stock is convertible at the time of such exercise. 

 If this Warrant Agreement is exercised prior to or after Your initial
public offering, and: 
  

	 	•	 	 If Your Common Stock is not listed on any securities exchange or quoted in the NASDAQ System or the over-the-counter market, the fair market value per share shall be the product of (x) the fair market value of a share of Your Common Stock (the highest price per share
which You could obtain from a willing buyer (not a current employee or director) for shares of Common Stock sold, from authorized but unissued shares), as determined in good faith by Your Board of Directors and (y) the number of shares of
Common Stock into which each share of Warrant Stock is convertible at the time of such exercise, unless You shall become subject to a merger, acquisition or other consolidation pursuant to which You are not the surviving party, in which case the
fair market value of Warrant Stock shall be deemed to be the value received by the holders of Your Warrant Stock on a common equivalent basis pursuant to such merger or acquisition or other consolidation. 

During the term of this Warrant Agreement, You will at all times from and after the Effective Date have authorized and reserved a sufficient number of shares
of (a) Warrant Stock to provide for the exercise of our rights to purchase Warrant Stock, and (b) Common Stock to provide for the conversion of the Warrant Stock. Notwithstanding the foregoing, in no event shall You be obligated to have
authorized and reserved any Next Round securities as Warrant Stock unless and until such time as the Next Round closes and only in the event the Warrant Stock is the class/series issued in the Next Round. 

If We elect to exercise part of the Warrant Agreement, You will promptly issue to Us an amended Warrant Agreement stating the remaining number of shares that
are available. All other terms and conditions of that amended Warrant Agreement shall be identical to those contained in this Warrant Agreement. 
 If at
the end of the term of this Warrant Agreement, the fair market value of one share of Warrant Stock (or other security issuable upon the exercise hereof) as determined in accordance herewith is greater than the Exercise Price in effect on such date,
then this Warrant Agreement shall automatically be deemed on and as of such date to be converted pursuant hereto as to all shares of Warrant Stock (or such other securities) for which it shall not previously have been exercised or converted, and You
shall promptly deliver a certificate representing the shares of Warrant Stock (or such other securities) issued upon such conversion to Us. 
  

	4.	 WHEN WILL THE NUMBER OF SHARES AND EXERCISE PRICE CHANGE. 

 

	 	•	 	 If You are Acquired. For the purposes of this Section 4: (i)
“Acquisition” shall mean (A) any consolidation or merger of the You with or into any other corporation or other entity or person, or any other corporate reorganization, whether or not You are the surviving entity ; or
(B) any transaction or series of related transactions to which You are a 

  
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party in which in excess of fifty percent (50%) of Your voting power is transferred; and (ii) “Asset Transfer” shall mean a sale, lease, exclusive license or other
disposition of all or substantially all of the assets of the Company. A Merger Event shall be defined as an Acquisition or Asset Transfer. As a part of such Merger Event, lawful provision shall be made so that We shall thereafter be entitled to
receive, upon exercise of Our rights under this Warrant Agreement, the number of shares of preferred stock or other securities of the successor or surviving person resulting from such Merger Event, that would have been issuable to Us in such Merger
Event if We had exercised Our rights under this Warrant Agreement immediately prior to the Merger Event. In any such case, appropriate adjustment (as determined in good faith by Your Board of Directors) shall be made in the application of the
provisions of this Warrant Agreement with respect to Our rights and interest after the Merger Event so that the provisions of this Warrant Agreement (including adjustments of the Exercise Price and number of shares of Warrant Stock purchasable)
shall be applicable to the greatest extent possible. 

  

	 	•	 	 If You Reclassify Your Stock. If at any time You combine, reclassify, exchange or subdivide Your
securities or otherwise, change any of the securities as to which the purchase rights under this Warrant Agreement exist into the same or a different number of securities of any other class or classes (other than pursuant to a Merger Event covered
above in this Section 4), this Warrant Agreement will thereafter represent the right to acquire such number and kind of securities as would have been issuable as the result of such change with respect to the securities which were subject to the
purchase rights under this Warrant Agreement immediately prior to such combination, reclassification, exchange, subdivision or other change. 

  

	 	•	 	 If You Subdivide or Combine Your Shares. If at any time You combine or subdivide Your Warrant
Stock, the Exercise Price will be proportionately decreased in the case of a subdivision, or proportionately increased in the case of a combination. 

  

	 	•	 	 If You Pay Stock Dividends. If at any time You pay a dividend payable in, or make any other
distribution (except any distribution specifically provided for in the above paragraphs) of Your Warrant Stock, then the Exercise Price shall be adjusted, from and after the record date of such dividend or distribution, to that price determined by
multiplying the Exercise Price in effect immediately prior to such record date by a fraction (i) the numerator of which shall be the total number of all shares of Your Warrant Stock outstanding immediately prior to such dividend or
distribution, and (ii) the denominator of which shall be the total number of all shares of Your Warrant Stock outstanding immediately after such dividend or distribution. We will thereafter be entitled to purchase, at the Exercise Price
resulting from such adjustment, the number of shares of Warrant Stock (calculated to the nearest whole share) obtained by multiplying the Exercise Price in effect immediately prior to such adjustment by the number of shares of Warrant Stock issuable
upon the exercise hereof immediately prior to such adjustment and dividing the product thereof by the Exercise Price resulting from such adjustment. 

  

	 	•	 	 If You Change the Antidilution Rights of the Warrant Stock or Issue New Preferred or Convertible
Stock. All antidilution rights applicable to the Warrant Stock purchasable under this Warrant Agreement are as set forth in the Restated Charter. You will promptly provide Us with any restatement, amendment, modification of or waiver of any
right under Your Restated Charter. You will provide Us with copies of any notices that You send to holders of Warrant Stock with respect to any adjustments to the conversion rate applicable to Your Warrant Stock, contemporaneously with delivery of
such notices to other such other holders of Warrant Stock. 

  

	5.	 WE CAN TRANSFER THIS PLAIN ENGLISH WARRANT AGREEMENT. 

Subject to the terms and conditions contained in Section 7, We (or any successor transferee) may transfer in whole or in part this Warrant Agreement and
all its rights. You will record the transfer on Your books when You receive Our Notice of Transfer in the form attached hereto as Exhibit III, and Our payment of all transfer taxes and other governmental charges involved in such transfer, in each
case if and only if the transfer is in accordance with Section 7. 
  

	6.	 REPRESENTATIONS, WARRANTIES, AND COVENANTS FROM YOU. 

 

	 	•	 	 Reservation of Warrant Stock. The Warrant Stock issuable upon exercise of Our rights under this
Warrant Agreement will be duly and validly reserved and when issued in accordance with the provisions of this Warrant Agreement will be validly issued, fully paid and non-assessable, and will be free of any
taxes, liens, charges or encumbrances of any nature whatsoever; provided, however, that the Warrant Stock issuable pursuant to this Warrant 

  
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Agreement may be subject to restrictions on transfer under Your bylaws or under state and/or Federal securities laws. Upon Our exercise, You will issue to Us certificates for the shares of
Warrant Stock issuable thereupon without charging Us any tax, or other cost incurred by You in connection with such exercise and the related issuance of shares of Warrant Stock. You will not be required to pay any tax, which may be payable in
respect of any transfer involved and the issuance and delivery of any certificate in a name other than TRIPLEPOINT VENTURE GROWTH BDC CORP. 

  

	 	•	 	 Due Authority. Your execution and delivery of this Warrant Agreement and the performance of Your
obligations hereunder, including the issuance to Us of the right to acquire the shares of Warrant Stock, have been duly authorized by all necessary corporate action on Your part and this Warrant Agreement does not violate Your Amended and Restated
Certificate of Incorporation, as amended through the Effective Date, or Bylaws, does not contravene any law or governmental rule, regulation or order known by You to be applicable to You, does not contravene any provision of, or constitute a default
under, any indenture, mortgage, contract or other instrument to which You are a party or by which, to Your knowledge, You are bound as of the Effective Date, and this Warrant Agreement constitutes a legal, valid and binding agreement, enforceable
against You in accordance with its respective terms, subject to laws of general application relating to bankruptcy, insolvency and the relief of debtors and the rules of law or principles at equity governing specific performance, injunctive relief
and other equitable remedies. 

  

	 	•	 	 Consents and Approvals. No consent or approval of, giving of notice to, registration with, or
taking of any other action in respect of any state, Federal or other governmental authority or agency is required that has not been fulfilled prior to the Effective Date with respect to execution, delivery and Your performance of Your obligations
under this Warrant Agreement, except for the filing of any required notices pursuant to Federal and state securities laws, which filings will be effective by the times required thereby. 

 

	 	•	 	 Issued Securities. All of Your issued and outstanding shares of Common Stock, Warrant Stock or any
other securities have been duly authorized and validly issued and are fully paid and nonassessable. All outstanding shares of Common Stock and Warrant Stock were issued in full compliance with all Federal and state securities laws. In addition as of
the Effective Date, in all material respects: 

 Your authorized capital as of October 28, 2014, consists of (A) 97,650,000 shares of
Class A Common Stock, of which 15,796,294 shares are issued and outstanding, (B) 3,000 shares of Class B Common Stock, all of which are outstanding, (C) 25,274,181 shares of Series A Preferred Stock, all of which are outstanding, (D)
17,622,476 shares of Series B Preferred Stock, all of which are outstanding, (E) 5,995,347 shares of Series C Preferred Stock, all of which are outstanding and (F) 9,488,372 shares of Series D Preferred Stock, of which 9,302,326 shares are issued
and outstanding. 
 You have reserved 5,219,750 shares of Common Stock for issuance under Your Stock Incentive Plan, under which options to purchase
5,219,750 shares are outstanding. You have reserved 32,600,000 shares of Common Stock for issuance under Your Stock Incentive Plan, under which options to purchase 16,602,457 shares are currently outstanding. Except as otherwise provided in this
Warrant Agreement, warrants to purchase 75,000 shares of the Company’s Class A Common Stock, and as noted above, there are no other options, warrants, conversion privileges or other rights presently outstanding to purchase or otherwise
acquire any authorized but unissued shares of Your capital stock or other of Your securities. 
 Except as set forth in Your Amended and Restated Investor
Rights Agreement, dated as of the date of this Warrant Agreement (as may be amended and/or restated from time to time the “Investor Rights Agreement”), a true, correct and complete copy of which has been delivered to Us prior to the
issuance of this Warrant, Your stockholders do not have preemptive rights to purchase new issuances of Your capital stock. 
  

	 	•	 	 Other Commitments to Register Securities. Except as set forth in this Warrant Agreement and the
Investor Rights Agreement, You are not, pursuant to the terms of any other agreement in existence as of the Effective Date, under any obligation to register under the 1933 Act any of Your presently outstanding securities or any of Your securities
which may hereafter be issued. 

  

	 	•	 	 Exempt Transaction. Subject to the accuracy of Our representations in Section 7 hereof, the
issuance of the Warrant Stock upon exercise of this Warrant Agreement will constitute a transaction exempt from (i) the registration requirements of Section 5 of the 1933 Act, in reliance upon Section 4(2) thereof, and (ii) the
qualification requirements of the applicable state securities laws. 

  
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	 	•	 	 Compliance with Rule 144. We may sell the Warrant Stock issuable hereunder in compliance with Rule
144 promulgated by the Securities and Exchange Commission. Within ten (10) business days of Our request, if such request is made at least ninety (90) days after the first date on which You became an issuer subject to the reporting
requirements of Section 13 or Section 15(d) of the Securities Exchange Act of 1934, as amended, You agree to furnish Us, a written statement confirming Your compliance with the filing requirements of the Securities and Exchange Commission
as set forth in such Rule 144, as may be amended. 

  

	 	•	 	 No Impairment. Except as set forth herein, You agree not to, by amendment of Your Certificate of
Incorporation, or through a reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms to be observed or
performed under this Warrant by You, but shall at all times in good faith assist in carrying out of all the provisions of this Warrant and in taking all such action as may be necessary or appropriate to protect Our rights under this Warrant against
impairment. However, notwithstanding the forgoing, You shall not be deemed to have impaired Our rights if You amend, restate, modify or waive any provisions of Your Restated Certificate (by amendment, merger or otherwise), or the holders of any of
Your capital stock waive their rights thereunder, in a manner that does not (individually or when considered in the context of any other actions being taken in connection with such amendments, restatements, modifications or waivers) affect the
rights, privileges, preferences, restrictions and limitations of the Warrant Stock in a manner different from the effect that such amendments, restatements, modifications or waivers have generally on the rights, privileges, preferences, restrictions
and limitations of the then outstanding securities of You that are of the same series and class as the Warrant Stock, it being expressly understood that an amendment, restatement, modification or waiver that applies equally to all holders of the
class and/or series of securities then issuable upon exercise of this Warrant that has a different economic effect on You shall not be deemed to affect the rights, privileges, preferences, restrictions and limitations of the Warrant Stock in a
manner different from the effect that such amendments, restatements, modification or waivers have generally on the rights, privileges, preferences, restrictions and limitations of the then outstanding securities of You that are of the same series
and class as the Warrant Stock. 

  

	7.	 OUR REPRESENTATIONS AND COVENANTS TO YOU. 

 

	 	•	 	 Investment Purpose. The right to acquire Warrant Stock or the Warrant Stock issuable upon exercise
of Our rights contained herein and the Common Stock issuable upon conversion will be acquired for investment purposes and not with a view to the sale or distribution of any part thereof, and We have no present intention of selling or engaging in any
public distribution of the same in violation of the 1933 Act. 

  

	 	•	 	 Private Issue. We understand (i) that this Warrant Agreement, the Warrant Stock issuable upon
exercise of this Warrant Agreement and the Common Stock issuable upon conversion of the Warrant Stock are not registered under the 1933 Act or qualified under applicable state securities laws on the ground that the issuance contemplated by this
Warrant Agreement will be exempt from the registration and qualifications requirements thereof, and (ii) that Your reliance on such exemption is predicated on the representations set forth in this Section 7. 

 

	 	•	 	 Market Stand-Off Agreement. We hereby agree that We are
bound by the provisions of Section 2.11 of the Investors Rights Agreement with respect to this Warrant Agreement, the Warrant Stock and any other equity securities of Yours that we may hold from time to time. 

 

	 	•	 	 Disposition of Our Rights. In no event will We make a disposition of any of Our rights to acquire
Warrant Stock or Warrant Stock issuable upon exercise of such rights or the Common Stock issuable upon conversion of the Warrant Stock unless and until (i) We shall have notified You in writing of the proposed disposition, and (ii) the
transferee agrees to be bound in writing to all of the terms and conditions of this Warrant Agreement, and (iii) if You request, We shall have furnished You with an opinion of counsel satisfactory to You and Your counsel to the effect that
(A) appropriate action necessary for compliance with the 1933 Act has been taken, or (B) an exemption from the registration requirements of the 1933 Act is available. Notwithstanding the foregoing, the restrictions imposed upon the
transferability of any of Our rights to acquire Warrant Stock or Warrant Stock issuable on the exercise of such rights or the Common Stock issuable upon conversion of the Warrant Stock do not apply to transfers from the beneficial owner of any of
the aforementioned securities to its nominee or from such nominee to its beneficial owner, and shall terminate as to any particular share of Warrant Stock when (1) such security shall have been effectively registered under the 1933 Act and sold
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 1933 Act, or (3) a letter shall have

  
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been issued to You at Our request by the staff of the Securities and Exchange Commission or a ruling shall have been issued to You at Our 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 1933 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 restrictions imposed hereunder shall terminate, as hereinabove provided, the holder of a share of Warrant Stock then outstanding as to which such restrictions have
terminated shall be entitled to receive from You, without expense to such holder, one or more new certificates for the Warrant or for such shares of Warrant Stock not bearing any restrictive legend referring to 1933 Act registration or exemption. We
understand and agree that all certificates evidencing the shares to be issued to US may bear the following legend: 

 THESE
SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”). THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO THE SECURITIES UNDER
THE ACT OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED. 
  

	 	•	 	 Financial Risk. We have such knowledge and experience in financial and business matters and
knowledge of Your business affairs and financial condition as to be capable of evaluating the merits and risks of Our investment, and have the ability to bear the economic risks of Our investment. We have had an opportunity to discuss Your business,
management and financial affairs with Your directors, officers and management, and have had the opportunity to review Your operations and facilities. We have also had the opportunity to ask questions of and receive answers from You and Your
management regarding the terms and conditions of this Warrant Agreement. 

  

	 	•	 	 Risk of No Registration. We understand that if You do not register with the Securities and Exchange
Commission pursuant to Section 12 of the 1934 Act (the “1934 Act”), or file reports pursuant to Section 15(d), of the 1934 Act, or if a registration statement covering the securities under the 1933 Act is not in effect when We
desire to sell (i) the rights to purchase Warrant Stock pursuant to this Warrant Agreement, or (ii) the Warrant Stock issuable upon exercise of this Warrant Agreement, or (iii) the Common Stock issuable upon conversion of the Warrant
Stock, We may be required to hold such securities for an indefinite period. We also understand that any sale of Our right to purchase Warrant Stock or Warrant Stock or Common Stock issuable upon conversion of the Warrant Stock, which might be made
by it in reliance upon Rule 144 under the 1933 Act may be made only in accordance with the terms and conditions of that Rule. 

  

	 	•	 	 Accredited Investor. We are an “accredited investor” within the meaning of the Securities
and Exchange Rule 501 of Regulation D of the 1933 Act, as presently in effect. 

  

	8.	 NOTICES YOU AGREE TO PROVIDE US. 

You agree to give Us at least fifteen (15) days prior written notice of the following events: 

 

	 	•	 	 If You pay a Dividend or distribution declaration upon the Warrant Stock. 

 

	 	•	 	 If You offer for subscription pro-rata to all existing holders of
Warrant Stock additional stock or other rights. 

  

	 	•	 	 If You consummate or sign definitive documents providing for a Merger Event. 

 

	 	•	 	 If You consummate an initial public offering. 

 

	 	•	 	 If You dissolve or liquidate.All notices in this Section must set forth details of the event, how the
event adjusts either Our number of shares or Our Exercise Price and the method used for such adjustment. 

 Timely Notice. Your
failure to timely provide such notice required above shall entitle Us to retain the benefit of the applicable notice period notwithstanding anything to the contrary contained in any insufficient notice received by Us. 

  
 7 

	9.	 DOCUMENTS YOU WILL PROVIDE US. 

Upon signing this Warrant Agreement You will provide Us with: 

 

	 	•	 	 Executed originals of this Warrant Agreement, and all other documents and instruments that We may reasonably
require 

  

	 	•	 	 Secretary’s certificate of incumbency and authority 

 

	 	•	 	 Certified copy of resolutions of Your board of directors approving this Warrant Agreement 

 

	 	•	 	 Certified copy of Certificate of Incorporation and by-laws as amended
through the Effective Date 

  

	 	•	 	 Current Investor Rights Agreement 

So long as this Warrant Agreement is in effect, You shall provide Us with the following: 

 

	 	•	 	 Within fifteen (15) Business Days after the closing of any equity financing, or extension of an existing
round of equity financing, occurring after the Effective Date, in which You issue preferred stock or other securities You will provide Us with copies of the stock purchase agreement, investors rights agreement, the amended or restated certificate of
incorporation, current capitalization table and such other related documents (such as any voting agreement) as We may reasonably request. 

  

	 	•	 	 Within thirty (30) days after completion You shall provide Us with any 409A Valuation Reports or other
similar reports prepared for You. 

  

	 	•	 	 After all obligations under the Loan Agreement have been finally paid in full, within thirty (30) days after
the end of each quarter, You will provide Us with (1) an unaudited income statement, statement of cash flows, and an unaudited balance sheet prepared in accordance with GAAP, and (2) within one hundred eighty (180) days of the end of
each fiscal year end, You will provide Us with audited financial statements accompanied by an audit report and an unqualified opinion of the independent certified public accountants. 

 

	 	•	 	 Notwithstanding the forgoing, there shall be no breach of the foregoing covenants in the event You fail to
provide the above documents in the time as set forth above provided that You provide such documents within five (5) business days after Our request for such documents. 

 

	 	•	 	 You shall submit to Us any other documents and other information that We may reasonably request from time to time
and are necessary to implement the provisions and purposes of this Warrant Agreement.  

  

	10.	 REGISTRATION RIGHTS UNDER THE 1933 ACT. 

Concurrently with the issuance of this Warrant Agreement, the Investor Rights Agreement attached hereto as Exhibit IV shall be executed and delivered by You,
Us, and by such other parties as are necessary to amend and restate the Prior Agreement (as defined in the Investor Rights agreement). 
  

	11.	 OTHER LEGAL PROVISIONS THE PARTIES WILL ABIDE BY. 

Effective Date. This Warrant Agreement shall be construed and shall be given effect in all respects as if it had been executed and delivered by the
Parties on the date hereof. This Warrant Agreement shall be binding upon any of the successors or assigns of the Parties. 
 Fractional Shares. No
fractional shares shall be issued upon the exercise of this Warrant Agreement as a consequence of any adjustment pursuant hereto. All Warrant Stock (including fractions) issuable upon exercise of this Warrant Agreement may be aggregated for purposes
of determining whether the exercise would result in the issuance of any fractional share. If, after aggregation, the exercise would result in the issuance of a fractional share, You shall, in lieu of issuance of any fractional share, pay Us, if We
are otherwise entitled to such fraction, a sum in cash equal to the product resulting from multiplying the then current fair market value of the Warrant Stock by such fraction. 

Attorney’s Fees. In any litigation, arbitration or court proceeding between the Parties relating to this Warrant Agreement, the prevailing party
shall be entitled to attorneys’ fees and expenses and all costs of proceedings incurred in enforcing this Warrant Agreement. 

  
 8 

 Governing Law. This Warrant Agreement shall be governed by and construed for all purposes under and
in accordance with the laws of the State of California without giving effect to that body of law pertaining to conflicts of laws. 
 Consent to
Jurisdiction and Venue. All judicial proceedings arising in or under or related to this Warrant Agreement may be brought in any state or federal court of competent jurisdiction located in the State of California. By execution and delivery of
this Warrant Agreement, each party hereto generally and unconditionally: (a) consents to personal jurisdiction in San Mateo County, State of California; (b) waives any objection as to jurisdiction or venue in San Mateo County, State of
California; (c) agrees not to assert any defense based on lack of jurisdiction or venue in the aforesaid courts; and (d) irrevocably agrees to be bound by any judgment rendered thereby in connection with this Warrant Agreement. Service of
process on any party hereto in any action arising out of or relating to this Warrant Agreement shall be effective if given in accordance with the requirements for notice set forth in this Section, and shall be deemed effective and received as set
forth therein. Nothing herein shall affect the right to serve process in any other manner permitted by law or shall limit the right of either party to bring proceedings in the courts of any other jurisdiction. 

Mutual Waiver of Jury Trial; Judicial Reference. Because disputes arising in connection with complex financial transactions are most quickly and
economically resolved by an experienced and expert person and the Parties wish applicable state and federal laws to apply (rather than arbitration rules), The Parties desire that their disputes be resolved by a judge applying such applicable laws.
EACH OF THE PARTIES SPECIFICALLY WAIVES ANY RIGHT THEY MAY HAVE TO TRIAL BY JURY OF ANY CAUSE OF ACTION, CLAIM, CROSS-CLAIM, COUNTERCLAIM, THIRD PARTY CLAIM OR ANY OTHER CLAIM (COLLECTIVELY, “CLAIMS”) ASSERTED BY YOU AGAINST US OR
OUR ASSIGNEE OR BY US OR OUR ASSIGNEE AGAINST YOU. IN THE EVENT THAT THE FOREGOING JURY TRIAL WAIVER IS NOT ENFORCEABLE, ALL CLAIMS, INCLUDING ANY AND ALL QUESTIONS OF LAW OR FACT RELATING THERETO, SHALL, AT THE WRITTEN REQUEST OF ANY PARTY, BE
DETERMINED BY JUDICIAL REFERENCE PURSUANT TO THE CALIFORNIA CODE OF CIVIL PROCEDURE (“REFERENCE”). THE PARTIES SHALL SELECT A SINGLE NEUTRAL REFEREE, WHO SHALL BE A RETIRED STATE OR FEDERAL JUDGE. IN THE EVENT THAT THE PARTIES CANNOT AGREE
UPON A REFEREE, THE REFEREE SHALL BE APPOINTED BY THE COURT. THE REFEREE SHALL REPORT A STATEMENT OF DECISION TO THE COURT. NOTHING IN THIS SECTION SHALL LIMIT THE RIGHT OF ANY PARTY AT ANY TIME TO EXERCISE LAWFUL SELF-HELP REMEDIES, FORECLOSE
AGAINST COLLATERAL OR OBTAIN PROVISIONAL REMEDIES. THE PARTIES SHALL BEAR THE FEES AND EXPENSES OF THE REFEREE EQUALLY UNLESS THE REFEREE ORDERS OTHERWISE. THE REFEREE SHALL ALSO DETERMINE ALL ISSUES RELATING TO THE APPLICABILITY, INTERPRETATION,
AND ENFORCEABILITY OF THIS SECTION. THE PARTIES ACKNOWLEDGE THAT THE CLAIMS WILL NOT BE ADJUDICATED BY A JURY. This waiver extends to all such Claims, including Claims that involve persons other than You and Us; Claims that arise out of or are in
any way connected to the relationship between You and Us; and any Claims for damages, breach of contract, specific performance, or any equitable or legal relief of any kind, arising out of this Warrant Agreement. 

Counterparts. This Warrant Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together
shall constitute one and the same instrument. 
 Notices. Unless otherwise set forth herein, any notice required or permitted under this Warrant
Agreement shall be given in writing and shall be deemed effectively given upon the earlier of (1) actual receipt or 3 days after mailing if mailed postage prepaid by regular or airmail to Us or You or (2) one day after it is sent by
overnight mail via nationally recognized courier or (3) on the same day as sent via confirmed facsimile or e-mail transmission as set forth on Page 1 of this Agreement, provided that the original is sent
by personal delivery or mail by the sending party. 
 Remedies. Subject to the terms of this Warrant Agreement, in the event of any default
hereunder, the non-defaulting party may proceed to protect and enforce its rights either by suit in equity and/or by action at law, including but not limited to an action for damages as a result of any such
default, and/or an action for specific performance for any default where such party will not have an adequate remedy at law and where damages will not be readily ascertainable. Each party expressly acknowledges and agrees that there is no adequate
remedy at law for any breach of this Warrant Agreement and that in the event of any breach of this Warrant Agreement, the injured party shall be entitled to specific performance of any or all provisions hereof or an injunction prohibiting the other
party from continuing to commit any such breach of this Warrant Agreement. 
 Survival. The representations, warranties, covenants, and conditions of
the Parties contained herein or made pursuant to this Warrant Agreement shall survive the execution and delivery of this Warrant Agreement. 

  
 9 

 Severability. In the event any one or more of the provisions of this Warrant Agreement shall for any
reason be held invalid, illegal or unenforceable, the remaining provisions of this Warrant Agreement shall be unimpaired, and the invalid, illegal or unenforceable provision shall be replaced by a mutually acceptable valid, legal and enforceable
provision, which comes closest to the intention of the Parties underlying the invalid, illegal or unenforceable provision. 
 Entire Agreement. This
Warrant Agreement and the Loan Agreement constitutes the entire agreement between the Parties pertaining to the subject matter contained in it and supersedes all prior and contemporaneous agreements, representations and undertakings of the Parties,
whether oral or written, with respect to such subject matter. 
 Amendments. Any provision of this Warrant Agreement may only be amended by a written
instrument signed by the Parties. 
 Lost Warrants or Stock Certificates. You covenant to Us that, upon receipt of
evidence reasonably satisfactory to Us of the loss, theft, destruction or mutilation of this Warrant Agreement or any stock certificate and, in the case of any such loss, theft or destruction, upon receipt of an indemnity reasonably satisfactory to
You, or in the case of any such mutilation upon surrender and cancellation of such Warrant Agreement or stock certificate, You will make and deliver a new Warrant Agreement or stock certificate, of like tenor, in lieu of the lost, stolen, destroyed
or mutilated Warrant Agreement or stock certificate. 
 Rights as Stockholders. We shall not, as a party to this Warrant Agreement, be entitled to
vote or receive dividends or be deemed the holder of Warrant Stock or any of Your other securities which may at any time be issuable upon the exercise hereof for any purpose, nor shall anything contained herein be construed to confer upon Us any of
the rights of one of Your stockholders or any right to vote for the election of directors or upon any matter submitted to stockholders at any meeting thereof, or to receive dividends or subscription rights or otherwise until this Warrant Agreement
is exercised and the shares purchasable upon the exercise hereof shall have become deliverable, as provided herein. 
 Facsimile Signatures. This
Warrant Agreement may be executed and delivered by facsimile and upon such delivery the facsimile signature will be deemed to have the same effect as if the original signature had been delivered to the other party. 

(Signature Page to Follow) 

  
 10 

 IN WITNESS WHEREOF, each of the Parties have caused this Warrant Agreement to be executed by its
officers who are duly authorized as of the Effective Date. 
  

			
	You:	 	MEDALLIA, INC.
		
	Signature:	 	 /s/ Alan Grebene

	Print Name:	 	Alan Grebene
	Title:	 	VP & GC
		
	Us:	 	TRIPLEPOINT VENTURE GROWTH BDC CORP.
		
	Signature:	 	 /s/ James Labe

	Print Name:	 	James Labe
	Title:	 	CEO

 [SIGNATURE PAGE TO WARRANT AGREEMENT
0881-W-01] 

  
 11 

 EXHIBIT I 

NOTICE OF EXERCISE 
  

	To:	 Medallia, Inc. 

 

	1.	 We hereby elect to purchase [        ] shares of the Series
[        ] Preferred Stock of Medallia, Inc., pursuant to the terms of the Plain English Warrant Agreement dated the [        ] day of
[        ], [20    ] (the “Plain English Warrant Agreement”) between You and Us, We hereby tender here payment of the purchase price for such shares in full,
together with all applicable transfer taxes, if any. 

  

	2.	 Method of Exercise (Please initial the applicable blank) 

 

	 	a.	             The undersigned elects to exercise the
Plain English Warrant Agreement by means of a cash payment, and gives You full payment for the purchase price of the shares being purchased, together with all applicable transfer taxes, if any. 

 

	 	b.	             The undersigned elects to exercise the
Plain English Warrant Agreement by means of the Net Issuance Exercise method of Section 3 of the Plain English Warrant Agreement. 

  

	3.	 In exercising Our rights to purchase the Series [        ]
Preferred Stock of [                            ], We hereby confirm and acknowledge the investment
representations, warranties and covenants made in Section 7 of the Plain English Warrant Agreement. 

 Please issue a certificate or
certificates representing these purchased shares of Series [        ] Preferred Stock in Our name or in such other name as is specified below. 

 

					
		 	      

		 	(Name)
		
	        	 	      

		 	(Address)
			
		 	US:	 	TRIPLEPOINT VENTURE GROWTH BDC CORP.
			
		 	By:	 	  

		 	Title:	 	  

		 	Date:	 	  

  
 12 

 EXHIBIT II 

ACKNOWLEDGMENT OF EXERCISE 

[                        ],
hereby acknowledges receipt of the “Notice of Exercise” from TRIPLEPOINT VENTURE GROWTH BDC CORP., to purchase [        ] shares of the Series
[        ] Preferred Stock of
[                            ], pursuant to the terms of the Plain English Warrant Agreement, and
further acknowledges that [        ] shares remain subject to purchase under the terms of the Plain English Warrant Agreement. 
  

							
	         YOU:	 		 	MEDALLIA, INC.
				
		 		 	By:	 	  

				
		 		 	Title:	 	  

				
		 		 	Date:	 	  

  
 13 

 EXHIBIT III 

TRANSFER NOTICE 
 FOR VALUE
RECEIVED, the foregoing Plain English Warrant Agreement and all rights evidenced thereby are hereby transferred and assigned to 
  

							
	      
	 		 	                                      
      
	(Please Print)	 		 		 	
			
	Whose address is	 	      
	 	
			
	 	 	 	 	 

  

					
	Dated:	 	  
	 	
			
	Holder’s Signature:	 	  
	 	
			
	Holder’s Address:	 	  
	 	
			
	Transferee’s Signature:	 	  
	 	
			
	Transferee’s Address:	 	  
	 	
			
	Signature Guaranteed:	 	  
	 	

 NOTE: The signature to this Transfer Notice must correspond with the name as it appears on the face of the Plain
English Warrant Agreement, without alteration or enlargement or any change whatever. Officers of corporations and those acting in a fiduciary or other representative capacity should file proper evidence of authority to assign the foregoing Plain
English Warrant Agreement. 

  
 14EX-10.5

 Exhibit 10.5 

MEDALLIA, INC. 

2008 EQUITY INCENTIVE PLAN 

ADOPTED BY THE BOARD OF DIRECTORS:
FEBRUARY 13, 2008 
 APPROVED BY THE STOCKHOLDERS:
FEBRUARY 13, 2008 
 AMENDED BY THE BOARD:
SEPTEMBER 1, 2010 
 AMENDED BY THE BOARD:
MARCH 3, 2011 
 APPROVED BY THE STOCKHOLDERS:
AUGUST 22, 2011 
 AMENDED BY THE BOARD:
SEPTEMBER 5, 2012 
 APPROVED BY THE STOCKHOLDERS:
SEPTEMBER 5, 2012 
 AMENDED BY THE BOARD:
NOVEMBER 27, 2012 
 APPROVED BY THE STOCKHOLDERS:
NOVEMBER 27, 2012 
 AMENDED BY THE BOARD:
JUNE 19, 2013 
 APPROVED BY THE STOCKHOLDERS:
JUNE 19, 2013 
 AMENDED BY THE BOARD:
JANUARY 23, 2014 
 APPROVED BY THE STOCKHOLDERS:
JANUARY 23, 2014 
 AMENDED BY THE BOARD:
AUGUST 21, 2014 
 APPROVED BY THE STOCKHOLDERS:
AUGUST 28, 2014 
 AMENDED BY THE BOARD:
NOVEMBER 5, 2014 
 AMENDED BY THE BOARD:
FEBRUARY 4, 2015 
 AMENDED BY THE BOARD:
APRIL 30, 2015 
 AMENDED BY THE BOARD:
JUNE 3, 2015 
 APPROVED BY THE STOCKHOLDERS:
JULY 2, 2015 
 AMENDED BY THE BOARD:
SEPTEMBER 10, 2015 
 AMENDED BY THE BOARD:
DECEMBER 10, 2015 
 AMENDED BY THE BOARD:
MARCH 2, 2016 
 APPROVED BY THE STOCKHOLDERS:
MAY 31, 2016 
 AMENDED BY THE BOARD:
FEBRUARY 2, 2017 
 AMENDED BY THE BOARD:
MARCH 17, 2017 
 AMENDED BY THE BOARD:
JUNE 2, 2017 
 AMENDED BY THE BOARD:
DECEMBER 12, 2017 
 AMENDED BY THE BOARD:
OCTOBER 15, 2018 
 TERMINATION DATE (EXCEPT FOR E-1 PREFERRED STOCK): FEBRUARY 12, 2018 

TERMINATION DATE FOR E-1 PREFERRED
STOCK: DECEMBER 31, 2018 
  

	1.	 GENERAL. 

(a) Eligible Stock Award Recipients. The persons eligible to receive Stock Awards are Employees, Directors and Consultants. 

(b) Available Stock Awards. The Plan provides for the grant of the following Stock Awards: (i) Incentive Stock Options,
(ii) Nonstatutory Stock Options, (iii) Restricted Stock Awards, (iv) Restricted Stock Unit Awards, and (v) Stock Appreciation Rights. 

  
 1. 

 (c) Purpose. The Company, by means of the Plan, seeks to secure and retain the
services of the group of persons eligible to receive Stock Awards as set forth in Section 1(a), to provide incentives for such persons to exert maximum efforts for the success of the Company and any Affiliate, and to provide a means by which
such eligible recipients may be given an opportunity to benefit from increases in value of the Class A Common Stock and Class E-1 Preferred Stock through the granting of Stock Awards. 

 

	2.	 ADMINISTRATION. 

(a) Administration by Board. The Board shall administer the Plan unless and until the Board delegates administration of the Plan to a
Committee, as provided in Section 2(c). 
 (b) Powers of Board. The Board shall have the power, subject to, and within the
limitations of, the express provisions of the Plan: 
 (i) To determine from time to time (A) which of the persons eligible under
the Plan shall be granted Stock Awards; (B) when and how each Stock Award shall be granted; (C) what type or combination of types of Stock Award shall be granted; (D) the provisions of each Stock Award granted (which need not be
identical), including the time or times when a person shall be permitted to receive cash or Class A Common pursuant to a Stock Award; (E) the number of shares of Class A Common with respect to which a Stock Award shall be granted to
each such person; and (F) the Fair Market Value applicable to a Stock Award. 
 (ii) To construe and interpret the Plan and Stock
Awards granted under it, and to establish, amend and revoke rules and regulations for administration of the Plan. The Board, in the exercise of this power, may correct any defect, omission or inconsistency in the Plan or in any Stock Award
Agreement, in a manner and to the extent it shall deem necessary or expedient to make the Plan or Stock Award fully effective. 
 (iii)
To settle all controversies regarding the Plan and Stock Awards granted under it. 
 (iv) To accelerate the time at which a Stock
Award may first be exercised or the time during which a Stock Award or any part thereof will vest in accordance with the Plan, notwithstanding the provisions in the Stock Award stating the time at which it may first be exercised or the time during
which it will vest. 
 (v) To suspend or terminate the Plan at any time. Suspension or termination of the Plan shall not impair rights
and obligations under any Stock Award granted while the Plan is in effect except with the written consent of the affected Participant. 

(vi) To amend the Plan in any respect the Board deems necessary or advisable, including, without limitation, relating to Incentive Stock
Options and certain nonqualified deferred compensation under Section 409A of the Code and/or to bring the Plan or Stock Awards granted under the Plan into compliance therewith, subject to the limitations, if any, of applicable law. However,
except as provided in Section 9(a) relating to Capitalization Adjustments, to the extent required by applicable law, stockholder approval shall be required for any amendment of the Plan that either (i) materially increases the number of
shares of Class A Common available for issuance under the Plan, (ii) materially expands the class of individuals eligible to receive Stock Awards under the Plan, (iii) materially increases the benefits accruing to Participants under
the Plan or materially reduces the price at which shares of Class A Common may be issued or purchased under the Plan, (iv) materially extends the term of the Plan, or (v) expands the types of Stock Awards available for issuance under
the Plan. Except as provided above, rights under any Stock Award granted before amendment of the Plan shall not be impaired by any amendment of the Plan unless (i) the Company requests the consent of the affected Participant, and (ii) such
Participant consents in writing.  

  
 2. 

 (vii) To submit any amendment to the Plan for stockholder approval, including, but
not limited to, amendments to the Plan intended to satisfy the requirements of Section 422 of the Code regarding Incentive Stock Options. 

(viii) To approve forms of Stock Award Agreements for use under the Plan and to amend the terms of any one or more Stock Awards,
including, but not limited to, amendments to provide terms more favorable than previously provided in the Stock Award Agreement, subject to any specified limits in the Plan that are not subject to Board discretion; provided however, that, the
rights under any Stock Award shall not be impaired by any such amendment unless (i) the Company requests the consent of the affected Participant, and (ii) such Participant consents in writing. Notwithstanding the foregoing, subject to the
limitations of applicable law, if any, and without the affected Participant’s consent, the Board may amend the terms of any one or more Stock Awards if necessary to maintain the qualified status of the Stock Award as an Incentive Stock Option
or to bring the Stock Award into compliance with Section 409A of the Code and the related guidance thereunder. 
 (ix) Generally,
to exercise such powers and to perform such acts as the Board deems necessary or expedient to promote the best interests of the Company and that are not in conflict with the provisions of the Plan or Stock Awards. 

(x) To adopt such procedures and sub-plans as are necessary or appropriate to permit
participation in the Plan by Employees, Directors or Consultants who are foreign nationals or employed outside the United States. 
 (xi)
To effect, at any time and from time to time, with the consent of any adversely affected Optionholder, (1) the reduction of the exercise price of any outstanding Option under the Plan, (2) the cancellation of any outstanding Option
under the Plan and the grant in substitution therefor of (A) a new Option under the Plan or another equity plan of the Company covering the same or a different number of shares of Class A Common, (B) a Restricted Stock Award,
(C) a Stock Appreciation Right, (D) Restricted Stock Unit, (E) cash and/or (F) other valuable consideration (as determined by the Board, in its sole discretion), or (3) any other action that is treated as a repricing under
generally accepted accounting principles; provided, however, that no such reduction or cancellation may be effected if it is determined, in the Company’s sole discretion, that such reduction or cancellation would result in any such
outstanding Option becoming subject to the requirements of Section 409A of the Code.  

  
 3. 

 (c) Delegation to Committee. The Board may delegate some or all of the
administration of the Plan to a Committee or Committees. If administration of the Plan is delegated to a Committee, the Committee shall have, in connection with the administration of the Plan, the powers theretofore possessed by the Board that have
been delegated to the Committee, including the power to delegate to a subcommittee of the Committee any of the administrative powers the Committee is authorized to exercise (and references in this Plan to the Board shall thereafter be to the
Committee or subcommittee), subject, however, to such resolutions, not inconsistent with the provisions of the Plan, as may be adopted from time to time by the Board. The Board may retain the authority to concurrently administer the Plan with the
Committee and may, at any time, revest in the Board some or all of the powers previously delegated. 
 (d) Effect of
Board’s Decision. All determinations, interpretations and constructions made by the Board in good faith shall not be subject to review by any person and shall be final, binding and conclusive on all persons. 

 

	3.	 SHARES SUBJECT TO THE PLAN.

 (a) Share Reserve. Subject to Section 9(a) relating to Capitalization Adjustments, the aggregate
number of shares of Class A Common of the Company that may be issued pursuant to Stock Awards after the Effective Date shall not exceed sixty-four million six hundred eighty-seven thousand four hundred thirty (64,687,430) shares, and the number
of shares of series class E-1 Preferred Stock, par value $0.001 per share (the “Preferred Stock”) that may be issued pursuant to the Plan is thirty-seven thousand four hundred thirty (37,430) shares
(and, to the extent necessary to administer any Stock Awards with respect to Preferred Stock, references to Class A Common in this Plan shall be deemed to also reference Preferred Stock). For clarity, the limitation in this Section 3(a) is
a limitation in the number of shares of Class A Common that may be issued pursuant to the Plan. Accordingly, this Section 3(a) does not limit the granting of Stock Awards except as provided in Section 7(a). 

(b) Reversion of Shares to the Share Reserve. If any shares of Class A Common issued pursuant to a Stock Award are forfeited
back to the Company because of the failure to meet a contingency or condition required to vest such shares in the Participant, then the shares which are forfeited shall revert to and again become available for issuance under the Plan. Also, any
shares reacquired by the Company pursuant to Section 8(g) or as consideration for the exercise of an Option shall again become available for issuance under the Plan. Furthermore, if a Stock Award (i) expires or otherwise terminates without
having been exercised in full or (ii) is settled in cash (i.e., the holder of the Stock Award receives cash rather than stock), such expiration, termination or settlement shall not reduce (or otherwise offset) the number of shares of
Class A Common that may be issued pursuant to the Plan. Notwithstanding the provisions of this Section 3(b), any such shares shall not be subsequently issued pursuant to the exercise of Incentive Stock Options. 

(c) Incentive Stock Option Limit. Notwithstanding anything to the contrary in this Section 3(c), subject to the provisions
of Section 9(a) relating to Capitalization Adjustments, the aggregate maximum number of shares of Class A Common that may be issued pursuant to the exercise of Incentive Stock Options shall be ninety-three million seven hundred thousand
(93,700,000) shares of Class A Common. 

  
 4. 

 (d) Source of Shares. The stock issuable under the Plan shall be shares of authorized
but unissued or reacquired Class A Common, including shares repurchased by the Company on the open market. 
  

	4.	 ELIGIBILITY. 

(a) Eligibility for Specific Stock Awards. Incentive Stock Options may be granted only to employees of the Company or a “parent
corporation” or “subsidiary corporation” thereof (as such terms are defined in Sections 424(e) and (f) of the Code). Stock Awards other than Incentive Stock Options may be granted to Employees, Directors and Consultants. 

(b) Ten Percent Stockholders. A Ten Percent Stockholder shall not be granted an Incentive Stock Option unless the exercise price
of such Option is at least one hundred ten percent (110%) of the Fair Market Value of the Class A Common on the date of grant and the Option is not exercisable after the expiration of five (5) years from the date of grant. 

(c) Consultants. A Consultant shall not be eligible for the grant of a Stock Award if, at the time of grant, either the
offer or the sale of the Company’s securities to such Consultant is not exempt under Rule 701 of the Securities Act (“Rule 701”) because of the nature of the services that the Consultant is providing to the Company,
because the Consultant is not a natural person, or because of any other provision of Rule 701, unless the Company determines that such grant need not comply with the requirements of Rule 701 and will satisfy another exemption under the Securities
Act as well as comply with the securities laws of all other relevant jurisdictions. 
  

	5.	 OPTION PROVISIONS. 

Each Option shall be in such form and shall contain such terms and conditions as the Board shall deem appropriate. All Options shall be
separately designated Incentive Stock Options or Nonstatutory Stock Options at the time of grant, and, if certificates are issued, a separate certificate or certificates shall be issued for shares of Class A Common purchased on exercise of each
type of Option. If an Option is not specifically designated as an Incentive Stock Option, then the Option shall be a Nonstatutory Stock Option. The provisions of separate Options need not be identical; provided, however, that each Option
Agreement shall include (through incorporation of provisions hereof by reference in the Option Agreement or otherwise) the substance of each of the following provisions: 

(a) Term. Subject to the provisions of Section 4(b) regarding Ten Percent Stockholders, no Option shall be exercisable after the
expiration of ten (10) years from the date of its grant or such shorter period specified in the Option Agreement. 
 (b) Exercise
Price. Subject to the provisions of Section 4(b) regarding Incentive Stock Options granted to Ten Percent Stockholders, the exercise price of each Option shall be not less than one hundred percent (100%) of the Fair Market Value of the
Class A Common subject to the Option on the date the Option is granted. Notwithstanding the foregoing, an Option may be granted with an exercise price lower than one hundred percent (100%) of the Fair Market Value of the Class A Common
subject to the Option if such Option is granted pursuant to an assumption or substitution for another option in a manner consistent with the provisions of Section 424(a) of the Code (whether or not such options are Incentive Stock Options).

 (c) Consideration. The purchase price of Class A Common acquired pursuant to the exercise of an Option shall be paid,
to the extent permitted by applicable law and as determined by the Board in its sole discretion, by any combination of the methods of payment set forth below. The Board shall have the authority to grant Options that do not permit all of the
following methods of payment (or otherwise restrict the ability to use certain methods) and to grant Options that require the consent of the Company to utilize a particular method of payment. The permitted methods of payment are as follows: 

(i) by cash, check, bank draft or money order payable to the Company; 

  
 5. 

 (ii) pursuant to a program developed under Regulation T as promulgated by the Federal
Reserve Board that, prior to the issuance of the stock subject to the Option, results in either the receipt of cash (or check) by the Company or the receipt of irrevocable instructions to pay the aggregate exercise price to the Company from the
sales proceeds; 
 (iii) by delivery to the Company (either by actual delivery or attestation) of shares of Class A Common; 

(iv) by a “net exercise” arrangement pursuant to which the Company will reduce the number of shares of Class A Common
issued upon exercise by the largest whole number of shares with a Fair Market Value that does not exceed the aggregate exercise price; provided, however, that the Company shall accept a cash or other payment from the Participant to the extent
of any remaining balance of the aggregate exercise price not satisfied by such reduction in the number of whole shares to be issued; provided, further, that shares of Class A Common will no longer be outstanding under an Option and will
not be exercisable thereafter to the extent that (A) shares are used to pay the exercise price pursuant to the “net exercise,” (B) shares are delivered to the Participant as a result of such exercise, and (C) shares are withheld
to satisfy tax withholding obligations; or 
 (v) in any other form of legal consideration that may be acceptable to the Board. 

(d) Transferability of Options. The Board may, in its sole discretion, impose such limitations on the transferability of Options
as the Board shall determine. In the absence of such a determination by the Board to the contrary, the following restrictions on the transferability of Options shall apply: 

(i) Restrictions on Transfer. An Option shall not be transferable except by will or by the laws of descent and distribution and shall be
exercisable during the lifetime of the Optionholder only by the Optionholder; provided, however, that the Board may, in its sole discretion, permit transfer of the Option to such extent as permitted by Rule 701 of the Securities Act at the
time of the grant of the Option and in a manner consistent with applicable tax and securities laws upon the Optionholder’s request. 

(ii) Domestic Relations Orders. Notwithstanding the foregoing, an Option may be transferred pursuant to a domestic relations order,
provided, however, that an Incentive Stock Option may be deemed to be a Nonstatutory Stock Option as a result of such transfer. 

(iii) Beneficiary Designation. Notwithstanding the foregoing, the Optionholder may, by delivering written notice to the Company,
in a form provided by or otherwise satisfactory to the Company, designate a third party who, in the event of the death of the Optionholder, shall thereafter be the beneficiary of an Option with the right to exercise the Option and receive the
Class A Common or other consideration resulting from the Option exercise. 

  
 6. 

 (e) Vesting of Options Generally. The total number of shares of Class A
Common subject to an Option may vest and therefore become exercisable in periodic installments that may or may not be equal. The Option may be subject to such other terms and conditions on the time or times when it may or may not be exercised (which
may be based on the satisfaction of performance goals or other criteria) as the Board may deem appropriate. The vesting provisions of individual Options may vary. The provisions of this Section 5(e) are subject to any Option provisions
governing the minimum number of shares of Class A Common as to which an Option may be exercised. 
 (f) Termination of Continuous
Service. Except as otherwise provided in the applicable Option Agreement or other agreement between the Optionholder and the Company, in the event that an Optionholder’s Continuous Service terminates (other than for Cause or upon the
Optionholder’s death or Disability), the Optionholder may exercise his or her Option (to the extent that the Optionholder was entitled to exercise such Option as of the date of termination of Continuous Service) but only within such period of
time ending on the earlier of (i) the date three (3) months following the termination of the Optionholder’s Continuous Service (or such longer or shorter period specified in the Option Agreement, which period shall not be less than
thirty (30) days unless such termination is for Cause), or (ii) the expiration of the term of the Option as set forth in the Option Agreement. If, after termination of Continuous Service, the Optionholder does not exercise his or her
Option within the time specified herein or in the Option Agreement (as applicable), the Option shall terminate. 
 (g) Extension of
Termination Date. Except as otherwise provided in the applicable Option Agreement or other agreement between the Optionholder and the Company, if the exercise of the Option following the termination of the Optionholder’s Continuous Service
(other than for Cause or upon the Optionholder’s death or Disability) would be prohibited at any time solely because the issuance of shares of Class A Common would violate the registration requirements under the Securities Act, then the
Option shall terminate on the earlier of (i) the expiration of a period of three (3) months after the termination of the Optionholder’s Continuous Service during which the exercise of the Option would not be in violation of such
registration requirements, or (ii) the expiration of the term of the Option as set forth in the Option Agreement. 
 (h)
Disability of Optionholder. Except as otherwise provided in the applicable Option Agreement or other agreement between the Optionholder and the Company, in the event that an Optionholder’s Continuous Service terminates as a result of
the Optionholder’s Disability, the Optionholder may exercise his or her Option (to the extent that the Optionholder was entitled to exercise such Option as of the date of termination of Continuous Service), but only within such period of time
ending on the earlier of (i) the date twelve (12) months following such termination of Continuous Service (or such longer or shorter period specified in the Option Agreement, which period shall not be less than six (6) months), or
(ii) the expiration of the term of the Option as set forth in the Option Agreement. If, after termination of Continuous Service, the Optionholder does not exercise his or her Option within the time specified herein or in the Option Agreement
(as applicable), the Option shall terminate. 
 (i) Death of Optionholder. Except as otherwise provided in the applicable Option
Agreement or other agreement between the Optionholder and the Company, in the event that (i) an Optionholder’s Continuous Service terminates as a result of the Optionholder’s death, or (ii) the Optionholder dies within the period
(if any) specified in the Option Agreement after the termination of the Optionholder’s Continuous Service for a reason other than death, then the Option may be exercised (to the extent the Optionholder was entitled to exercise such Option as of
the date of death) by the Optionholder’s estate, by a person who acquired the right to exercise the Option by bequest or inheritance or by a person designated as the beneficiary of the Option upon the Optionholder’s death, but only within
the period ending on the earlier of (i) the date eighteen (18) months following the date of death (or such longer or shorter period specified in the Option Agreement, which period shall not be less than six (6)

  
 7. 

 
months), or (ii) the expiration of the term of such Option as set forth in the Option Agreement. If, after the Optionholder’s death, the Option is not exercised within the time
specified herein or in the Option Agreement (as applicable), the Option shall terminate. If the Optionholder designates a third party beneficiary of the Option in accordance with Section 5(d)(iii), then upon the death of the Optionholder such
designated beneficiary shall have the sole right to exercise the Option and receive the Class A Common or other consideration resulting from the Option exercise. 

(j) Termination for Cause. Except as explicitly provided otherwise in an Optionholder’s Option Agreement, in the event that
an Optionholder’s Continuous Service is terminated for Cause, the Option shall terminate upon the termination date of such Optionholder’s Continuous Service, and the Optionholder shall be prohibited from exercising his or her Option from
and after the time of such termination of Continuous Service. 
 (k) Non-Exempt Employees. No
Option granted to an Employee that is a non-exempt employee for purposes of the Fair Labor Standards Act of 1938, as amended, shall be first exercisable for any shares of Class A Common until at least six
months following the date of grant of the Option. The foregoing provision is intended to operate so that any income derived by a non-exempt employee in connection with the exercise or vesting of an Option will
be exempt from his or her regular rate of pay. 
 (l) Early Exercise. The Option may, but need not, include a provision whereby the
Optionholder may elect at any time before the Optionholder’s Continuous Service terminates to exercise the Option as to any part or all of the shares of Class A Common subject to the Option prior to the full vesting of the Option. Subject
to the “Repurchase Limitation” in Section 8(k), any unvested shares of Class A Common so purchased may be subject to a repurchase option in favor of the Company or to any other restriction the Board determines to be appropriate.
Provided that the “Repurchase Limitation” in Section 8(k) is not violated, the Company shall not be required to exercise its repurchase option until at least six (6) months (or such longer or shorter period of time required to
avoid classification of the Option as a liability for financial accounting purposes) have elapsed following exercise of the Option unless the Board otherwise specifically provides in the Option Agreement. 

(m) Right of Repurchase. Subject to the “Repurchase Limitation” in Section 8(k), the Option may include a provision
whereby the Company may elect to repurchase all or any part of the vested shares of Class A Common acquired by the Optionholder pursuant to the exercise of the Option. 

(n) Right of First Refusal. The Option may include a provision whereby the Company may elect to exercise a right of first refusal
following receipt of notice from the Optionholder of the intent to transfer all or any part of the shares of Class A Common received upon the exercise of the Option. Such right of first refusal shall be subject to the “Repurchase
Limitation” in Section 8(k). Except as expressly provided in this Section 5(n) or in the Stock Award Agreement for the Option, such right of first refusal shall otherwise comply with any applicable provisions of the Bylaws of the
Company. 
  

	6.	 PROVISIONS OF STOCK AWARDS OTHER
THAN OPTIONS. 

 (a) Restricted Stock Awards. Each Restricted Stock Award
Agreement shall be in such form and shall contain such terms and conditions as the Board shall deem appropriate. To the extent consistent with the Company’s Bylaws, at the Board’s election, shares of Class A Common may be
(x) held in book entry form subject to the Company’s instructions until any restrictions relating to the Restricted Stock Award lapse; or (y) evidenced by a certificate, which certificate shall be held in such form and manner as
determined by the Board. The terms and conditions of Restricted Stock Award 

  
 8. 

 
Agreements may change from time to time, and the terms and conditions of separate Restricted Stock Award Agreements need not be identical; provided, however, that each Restricted Stock
Award Agreement shall include (through incorporation of the provisions hereof by reference in the agreement or otherwise) the substance of each of the following provisions: 

(i) Consideration. A Restricted Stock Award may be awarded in consideration for (A) past or future services actually or to be
rendered to the Company or an Affiliate, or (B) any other form of legal consideration that may be acceptable to the Board in its sole discretion and permissible under applicable law. 

(ii) Vesting. Subject to the “Repurchase Limitation” in Section 8(k), shares of Class A Common awarded under the
Restricted Stock Award Agreement may be subject to forfeiture to the Company in accordance with a vesting schedule to be determined by the Board. 

(iii) Termination of Participant’s Continuous Service. In the event a Participant’s Continuous Service terminates, the Company
may receive via a forfeiture condition, any or all of the shares of Class A Common held by the Participant which have not vested as of the date of termination of Continuous Service under the terms of the Restricted Stock Award Agreement. 

(iv) Transferability. Rights to acquire shares of Class A Common under the Restricted Stock Award Agreement shall be transferable
by the Participant only upon such terms and conditions as are set forth in the Restricted Stock Award Agreement, as the Board shall determine in its sole discretion, so long as Class A Common awarded under the Restricted Stock Award Agreement
remains subject to the terms of the Restricted Stock Award Agreement. 
 (b) Restricted Stock Unit Awards. Each Restricted
Stock Unit Award Agreement shall be in such form and shall contain such terms and conditions as the Board shall deem appropriate. The terms and conditions of Restricted Stock Unit Award Agreements may change from time to time, and the terms and
conditions of separate Restricted Stock Unit Award Agreements need not be identical, provided, however, that each Restricted Stock Unit Award Agreement shall include (through incorporation of the provisions hereof by reference in the
Agreement or otherwise) the substance of each of the following provisions: 
 (i) Consideration. At the time of grant of a
Restricted Stock Unit Award, the Board will determine the consideration, if any, to be paid by the Participant upon delivery of each share of Class A Common subject to the Restricted Stock Unit Award. The consideration to be paid (if any) by
the Participant for each share of Class A Common subject to a Restricted Stock Unit Award may be paid in any form of legal consideration that may be acceptable to the Board in its sole discretion and permissible under applicable law. 

(ii) Vesting. At the time of the grant of a Restricted Stock Unit Award, the Board may impose such restrictions or conditions to
the vesting of the Restricted Stock Unit Award as it, in its sole discretion, deems appropriate. 
 (iii) Payment. A Restricted
Stock Unit Award may be settled by the delivery of shares of Class A Common, their cash equivalent, any combination thereof or in any other form of consideration, as determined by the Board and contained in the Restricted Stock Unit Award
Agreement. 

  
 9. 

 (iv) Additional Restrictions. At the time of the grant of a Restricted Stock
Unit Award, the Board, as it deems appropriate, may impose such restrictions or conditions that delay the delivery of the shares of Class A Common (or their cash equivalent) subject to a Restricted Stock Unit Award to a time after the vesting
of such Restricted Stock Unit Award. 
 (v) Dividend Equivalents. Dividend equivalents may be credited in respect of shares of
Class A Common covered by a Restricted Stock Unit Award, as determined by the Board and contained in the Restricted Stock Unit Award Agreement. At the sole discretion of the Board, such dividend equivalents may be converted into additional
shares of Class A Common covered by the Restricted Stock Unit Award in such manner as determined by the Board. Any additional shares covered by the Restricted Stock Unit Award credited by reason of such dividend equivalents will be subject to
all the terms and conditions of the underlying Restricted Stock Unit Award Agreement to which they relate. 
 (vi) Termination of
Participant’s Continuous Service. Except as otherwise provided in the applicable Restricted Stock Unit Award Agreement, such portion of the Restricted Stock Unit Award that has not vested will be forfeited upon the
Participant’s termination of Continuous Service.  
 (vii) Compliance with Section 409A of the Code.
Notwithstanding anything to the contrary set forth herein, any Restricted Stock Unit Award granted under the Plan that is not exempt from the requirements of Section 409A of the Code shall contain such provisions so that such Restricted Stock
Unit Award will comply with the requirements of Section 409A of the Code. Such restrictions, if any, shall be determined by the Board and contained in the Restricted Stock Unit Award Agreement evidencing such Restricted Stock Unit Award. For
example, such restrictions may include, without limitation, a requirement that any Class A Common that is to be issued in a year following the year in which the Restricted Stock Unit Award vests must be issued in accordance with a fixed pre-determined schedule. 
 (c) Stock Appreciation Rights. Each Stock Appreciation Right
Agreement shall be in such form and shall contain such terms and conditions as the Board shall deem appropriate. Stock Appreciation Rights may be granted as stand-alone Stock Awards or in tandem with other Stock Awards. The terms and conditions of
Stock Appreciation Right Agreements may change from time to time, and the terms and conditions of separate Stock Appreciation Right Agreements need not be identical; provided, however, that each Stock Appreciation Right Agreement shall
include (through incorporation of the provisions hereof by reference in the agreement or otherwise) the substance of each of the following provisions: 

(i) Term. No Stock Appreciation Right shall be exercisable after the expiration of ten (10) years from the date of grant or
such shorter period specified in the Stock Appreciation Right Agreement. 
 (ii) Strike Price. Each Stock Appreciation Right will be
denominated in shares of Class A Common equivalents. The strike price of each Stock Appreciation Right granted as a stand-alone or tandem Stock Award shall not be less than one hundred percent (100%) of the Fair Market Value of the Class A
Common equivalents subject to the Stock Appreciation Right on the date of grant. 
 (iii) Calculation of Appreciation. The
appreciation distribution payable on the exercise of a Stock Appreciation Right will be not greater than an amount equal to the excess of (A) the aggregate Fair Market Value (on the date of the exercise of the Stock Appreciation Right) of a
number of shares of Class A Common equal to the number of shares of Class A Common equivalents in which the Participant is vested under such Stock Appreciation Right, and with respect to which the Participant is exercising the Stock
Appreciation Right on such date, over (B) the strike price that will be determined by the Board on the date of grant. 

  
 10. 

 (iv) Vesting. At the time of the grant of a Stock Appreciation Right, the
Board may impose such restrictions or conditions to the vesting of such Stock Appreciation Right as it, in its sole discretion, deems appropriate. 

(v) Exercise. To exercise any outstanding Stock Appreciation Right, the Participant must provide written notice of exercise to
the Company in compliance with the provisions of the Stock Appreciation Right Agreement evidencing such Stock Appreciation Right. 
 (vi)
Non-Exempt Employees. No Stock Appreciation Right granted to an Employee that is a non-exempt employee for purposes of the Fair Labor Standards Act of 1938,
as amended, shall be first exercisable for any shares of Class A Common until at least six months following the date of grant of the Stock Appreciation Right. The foregoing provision is intended to operate so that any income derived by a non-exempt employee in connection with the exercise of a Stock Appreciation Right will be exempt from his or her regular rate of pay. 

(vii) Payment. The appreciation distribution in respect to a Stock Appreciation Right may be paid in Class A Common, in cash, in
any combination of the two or in any other form of consideration, as determined by the Board and contained in the Stock Appreciation Right Agreement evidencing such Stock Appreciation Right. 

(viii) Termination of Continuous Service. Except as otherwise provided in the applicable Stock Appreciation Right Agreement or
other agreement between the Participant and the Company, in the event that a Participant’s Continuous Service terminates (other than for Cause or upon the Participant’s death or Disability), the Participant may exercise his or her Stock
Appreciation Right (to the extent that the Participant was entitled to exercise such Stock Appreciation Right as of the date of termination of Continuous Service) but only within such period of time ending on the earlier of (A) the date three
(3) months following the termination of the Participant’s Continuous Service (or such longer or shorter period specified in the Stock Appreciation Right Agreement, which period shall not be less than thirty (30) days unless such
termination is for Cause), or (B) the expiration of the term of the Stock Appreciation Right as set forth in the Stock Appreciation Right Agreement. If, after termination of Continuous Service, the Participant does not exercise his or her Stock
Appreciation Right within the time specified herein or in the Stock Appreciation Right Agreement (as applicable), the Stock Appreciation Right shall terminate. 

(ix) Disability of Participant. Except as otherwise provided in the applicable Stock Appreciation Right Agreement or other agreement
between the Participant and the Company, in the event that a Participant’s Continuous Service terminates as a result of the Participant’s Disability, the Participant may exercise his or her Stock Appreciation Right (to the extent that the
Participant was entitled to exercise such Stock Appreciation Right as of the date of termination of Continuous Service), but only within such period of time ending on the earlier of (A) the date twelve (12) months following such
termination of Continuous Service (or such longer or shorter period specified in the Stock Appreciation Right Agreement, which period shall not be less than six (6) months), or (B) the expiration of the term of the Stock Appreciation Right
as set forth in the Stock Appreciation Right Agreement. If, after termination of Continuous Service, the Participant does not exercise his or her Stock Appreciation Right within the time specified herein or in the Stock Appreciation Right Agreement
(as applicable), the Stock Appreciation Right shall terminate. 

  
 11. 

 (x) Death of Participant. Except as otherwise provided in the applicable Stock
Appreciation Right Agreement or other agreement between the Participant and the Company, in the event that (i) a Participant’s Continuous Service terminates as a result of the Participant’s death, or (ii) the Participant dies
within the period (if any) specified in the Stock Appreciation Right Agreement after the termination of the Participant’s Continuous Service for a reason other than death, then the Stock Appreciation Right may be exercised (to the extent the
Participant was entitled to exercise such Stock Appreciation Right as of the date of death) by the Participant’s estate, by a person who acquired the right to exercise the Stock Appreciation Right by bequest or inheritance or by a person
designated as the beneficiary of the Stock Appreciation Right upon the Participant’s death, but only within the period ending on the earlier of (i) the date eighteen (18) months following the date of death (or such longer or shorter
period specified in the Stock Appreciation Right Agreement, which period shall not be less than six (6) months), or (ii) the expiration of the term of such Stock Appreciation Right as set forth in the Stock Appreciation Right Agreement.
If, after the Participant’s death, the Stock Appreciation Right is not exercised within the time specified herein or in the Stock Appreciation Right Agreement (as applicable), the Stock Appreciation Right shall terminate. 

(xi) Termination for Cause. Except as explicitly provided otherwise in an Participant’s Stock Appreciation Right Agreement, in the
event that a Participant’s Continuous Service is terminated for Cause, the Stock Appreciation Right shall terminate upon the termination date of such Participant’s Continuous Service, and the Participant shall be prohibited from exercising
his or her Stock Appreciation Right from and after the time of such termination of Continuous Service. 
 (xii) Compliance with
Section 409A of the Code. Notwithstanding anything to the contrary set forth herein, any Stock Appreciation Rights granted under the Plan that are not exempt from the requirements of Section 409A of the Code shall
contain such provisions so that such Stock Appreciation Rights will comply with the requirements of Section 409A of the Code. Such restrictions, if any, shall be determined by the Board and contained in the Stock Appreciation Right Agreement
evidencing such Stock Appreciation Right. For example, such restrictions may include, without limitation, a requirement that a Stock Appreciation Right that is to be paid wholly or partly in cash must be exercised and paid in accordance with a fixed
pre-determined schedule. 
  

	7.	 COVENANTS OF THE COMPANY.

 (a) Availability of Shares. During the terms of the Stock Awards, the Company shall keep available at
all times the number of shares of Class A Common reasonably required to satisfy such Stock Awards. 
 (b) Securities Law
Compliance. The Company shall seek to obtain from each regulatory commission or agency having jurisdiction over the Plan such authority as may be required to grant Stock Awards and to issue and sell shares of Class A Common upon exercise of
the Stock Awards; provided, however, that this undertaking shall not require the Company to register under the Securities Act the Plan, any Stock Award or any Class A Common issued or issuable pursuant to any such Stock Award. If, after
reasonable efforts, the Company is unable to obtain from any such regulatory commission or agency the authority that counsel for the Company deems necessary for the lawful issuance and sale of Class A Common under the Plan, the Company shall be
relieved from any liability for failure to issue and sell Class A Common upon exercise of such Stock Awards unless and until such authority is obtained. 

  
 12. 

 (c) No Obligation to Notify. The Company shall have no duty or obligation to any
holder of a Stock Award to advise such holder as to the time or manner of exercising such Stock Award. Furthermore, the Company shall have no duty or obligation to warn or otherwise advise such holder of a pending termination or expiration of a
Stock Award or a possible period in which the Stock Award may not be exercised. The Company has no duty or obligation to minimize the tax consequences of a Stock Award to the holder of such Stock Award. 

 

	8.	 MISCELLANEOUS. 

(a) Use of Proceeds from Sales of Class A Common. Proceeds from the sale of shares of Class A Common pursuant to
Stock Awards shall constitute general funds of the Company. 
 (b) Corporate Action Constituting Grant of Stock Awards. Corporate
action constituting a grant by the Company of a Stock Award to any Participant shall be deemed completed as of the date of such corporate action, unless otherwise determined by the Board, regardless of when the instrument, certificate, or letter
evidencing the Stock Award is communicated to, or actually received or accepted by, the Participant. 
 (c) Stockholder Rights. No
Participant shall be deemed to be the holder of, or to have any of the rights of a holder with respect to, any shares of Class A Common subject to such Stock Award unless and until such Participant has satisfied all requirements for exercise of
the Stock Award pursuant to its terms and the Participant shall not be deemed to be a stockholder of record until the issuance of the Class A Common pursuant to such exercise has been entered into the books and records of the Company. 

(d) No Employment or Other Service Rights. Nothing in the Plan, any Stock Award Agreement or any other instrument executed thereunder or
in connection with any Stock Award granted pursuant thereto shall confer upon any Participant any right to continue to serve the Company or an Affiliate in the capacity in effect at the time the Stock Award was granted or shall affect the right of
the Company or an Affiliate to terminate (i) the employment of an Employee with or without notice and with or without cause, (ii) the service of a Consultant pursuant to the terms of such Consultant’s agreement with the Company or an
Affiliate, or (iii) the service of a Director pursuant to the Bylaws of the Company or an Affiliate, and any applicable provisions of the corporate law of the state in which the Company or the Affiliate is incorporated, as the case may be. 

(e) Incentive Stock Option $100,000 Limitation. To the extent that the aggregate Fair Market Value (determined at the time of grant) of
Class A Common with respect to which Incentive Stock Options are exercisable for the first time by any Optionholder during any calendar year (under all plans of the Company and any Affiliates) exceeds one hundred thousand dollars ($100,000),
the Options or portions thereof that exceed such limit (according to the order in which they were granted) shall be treated as Nonstatutory Stock Options, notwithstanding any contrary provision of the applicable Option Agreement(s). 

(f) Investment Assurances. The Company may require a Participant, as a condition of exercising or acquiring Class A Common under
any Stock Award, (i) to give written assurances satisfactory to the Company as to the Participant’s knowledge and experience in financial and business matters and/or to employ a purchaser representative reasonably satisfactory to the
Company who is knowledgeable and experienced in financial and business matters and that he or she is capable of evaluating, alone or together with the purchaser representative, the merits and risks of exercising the Stock Award; and (ii) to
give written assurances satisfactory to the Company stating that the Participant is 

  
 13. 

 
acquiring Class A Common subject to the Stock Award for the Participant’s own account and not with any present intention of selling or otherwise distributing the Class A Common.
The foregoing requirements, and any assurances given pursuant to such requirements, shall be inoperative if (x) the issuance of the shares upon the exercise or acquisition of Class A Common under the Stock Award has been registered under a
then currently effective registration statement under the Securities Act, or (y) as to any particular requirement, a determination is made by counsel for the Company that such requirement need not be met in the circumstances under the then
applicable securities laws. The Company may, upon advice of counsel to the Company, place legends on stock certificates issued under the Plan as such counsel deems necessary or appropriate in order to comply with applicable securities laws,
including, but not limited to, legends restricting the transfer of the Class A Common. 
 (g) Withholding Obligations. To
the extent provided by the terms of a Stock Award Agreement, the Company may, in its sole discretion, satisfy any federal, state or local tax withholding obligation relating to a Stock Award by any of the following means (in addition to the
Company’s right to withhold from any compensation paid to the Participant by the Company) or by a combination of such means: (i) causing the Participant to tender a cash payment; (ii) withholding shares of Class A Common from the
shares of Class A Common issued or otherwise issuable to the Participant in connection with the Stock Award; provided, however, that no shares of Class A Common are withheld with a value exceeding the minimum amount of tax required
to be withheld by law (or such lower amount as may be necessary to avoid classification of the Stock Award as a liability for financial accounting purposes); (iii) withholding payment from any amounts otherwise payable to the Participant;
(iv) withholding cash from a Stock Award settled in cash; or (v) by such other method as may be set forth in the Stock Award Agreement. 

(h) Electronic Delivery. Any reference herein to a “written” agreement or document shall include any agreement or document
delivered electronically or posted on the Company’s intranet. 
 (i) Deferrals. To the extent permitted by applicable law, the
Board, in its sole discretion, may determine that the delivery of Class A Common or the payment of cash, upon the exercise, vesting or settlement of all or a portion of any Stock Award may be deferred and may establish programs and procedures
for deferral elections to be made by Participants. Deferrals by Participants will be made in accordance with Section 409A of the Code. Consistent with Section 409A of the Code, the Board may provide for distributions while a Participant is
still an employee. The Board is authorized to make deferrals of Stock Awards and determine when, and in what annual percentages, Participants may receive payments, including lump sum payments, following the Participant’s termination of
employment or retirement, and implement such other terms and conditions consistent with the provisions of the Plan and in accordance with applicable law. 

(j) Compliance with Section 409A. To the extent that the Board determines that any Stock Award granted hereunder is
subject to Section 409A of the Code, the Stock Award Agreement evidencing such Stock Award shall incorporate the terms and conditions necessary to avoid the consequences specified in Section 409A(a)(1) of the Code. To the extent
applicable, the Plan and Stock Award Agreements shall be interpreted in accordance with Section 409A of the Code and Department of Treasury regulations and other interpretive guidance issued thereunder, including without limitation any such
regulations or other guidance that may be issued or amended after the Effective Date. Notwithstanding any provision of the Plan to the contrary, in the event that following the Effective Date the Board determines that any Stock Award may be subject
to Section 409A of the Code and related Department of Treasury guidance (including such Department of Treasury guidance as may be issued after the Effective Date), the Board may adopt such amendments to the Plan and the applicable Stock Award
Agreement or adopt other policies and procedures (including amendments, policies and 

  
 14. 

 
procedures with retroactive effect), or take any other actions, that the Board determines are necessary or appropriate to (1) exempt the Stock Award from Section 409A of the Code and/or
preserve the intended tax treatment of the benefits provided with respect to the Stock Award, or (2) comply with the requirements of Section 409A of the Code and related Department of Treasury guidance. 

(k) Repurchase Limitation. The terms of any repurchase option shall be specified in the Stock Award Agreement. The repurchase
price for vested shares of Class A Common shall be the Fair Market Value of the shares of Class A Common on the date of repurchase. The repurchase price for unvested shares of Class A Common shall be the lower of (i) the Fair
Market Value of the shares of Class A Common on the date of repurchase or (ii) their original purchase price. However, the Company shall not exercise its repurchase option until at least six (6) months (or such longer or shorter
period of time necessary to avoid classification of the Stock Award as a liability for financial accounting purposes) have elapsed following delivery of shares of Class A Common subject to the Stock Award, unless otherwise specifically provided
by the Board. 
  

	9.	 ADJUSTMENTS UPON CHANGES IN
CLASS A COMMON; OTHER CORPORATE EVENTS. 

(a) Capitalization Adjustments. In the event of a Capitalization Adjustment, the Board shall proportionately and appropriately
adjust: (i) the class(es) and maximum number of securities subject to the Plan pursuant to Section 3(a), (ii) the class(es) and maximum number of securities that may be issued pursuant to the exercise of Incentive Stock Options pursuant to
Section 3(c), and (iii) the class(es) and number of securities and price per share of stock subject to outstanding Stock Awards. The Board shall make such adjustments, and its determination shall be final, binding and conclusive. 

(b) Dissolution or Liquidation. Except as otherwise provided in the Stock Award Agreement, in the event of a dissolution or liquidation
of the Company, all outstanding Stock Awards (other than Stock Awards consisting of vested and outstanding shares of Class A Common not subject to the Company’s right of repurchase) shall terminate immediately prior to the completion of
such dissolution or liquidation, and the shares of Class A Common subject to the Company’s repurchase option may be repurchased by the Company notwithstanding the fact that the holder of such Stock Award is providing Continuous Service,
provided, however, that the Board may, in its sole discretion, cause some or all Stock Awards to become fully vested, exercisable and/or no longer subject to repurchase or forfeiture (to the extent such Stock Awards have not previously
expired or terminated) before the dissolution or liquidation is completed but contingent on its completion. 
 (c) Corporate Transaction.
The following provisions shall apply to Stock Awards in the event of a Corporate Transaction unless otherwise provided in the instrument evidencing the Stock Award or any other written agreement between the Company or any Affiliate and the
holder of the Stock Award or unless otherwise expressly provided by the Board at the time of grant of a Stock Award. 
 (i) Stock Awards
May Be Assumed. Except as otherwise stated in the Stock Award Agreement, in the event of a Corporate Transaction, any surviving corporation or acquiring corporation (or the surviving or acquiring corporation’s parent company) may assume or
continue any or all Stock Awards outstanding under the Plan or may substitute similar stock awards for Stock Awards outstanding under the Plan (including but not limited to, awards to acquire the same consideration paid to the stockholders of the
Company pursuant to the Corporate Transaction), and any reacquisition or repurchase rights held by the Company in respect of Class A Common issued pursuant to Stock Awards may be assigned by the Company to the successor of the Company (or the
successor’s parent company, if any), in connection with such Corporate Transaction. A surviving corporation or acquiring corporation (or its parent) may choose to assume or continue only a portion of a Stock Award or substitute a similar stock
award for only a portion of a Stock Award. The terms of any assumption, continuation or substitution shall be set by the Board in accordance with the provisions of Section 2. 

  
 15. 

 (ii) Stock Awards Held by Current Participants. Except as otherwise stated in the
Stock Award Agreement, in the event of a Corporate Transaction in which the surviving corporation or acquiring corporation (or its parent company) does not assume or continue such outstanding Stock Awards or substitute similar stock awards for such
outstanding Stock Awards, then with respect to Stock Awards that have not been assumed, continued or substituted and that are held by Participants whose Continuous Service has not terminated prior to the effective time of the Corporate Transaction
(referred to as the “Current Participants”), the vesting of such Stock Awards (and, if applicable, the time at which such Stock Awards may be exercised) shall (contingent upon the effectiveness of the Corporate Transaction)
be accelerated in full to a date prior to the effective time of such Corporate Transaction as the Board shall determine (or, if the Board shall not determine such a date, to the date that is five (5) days prior to the effective time of the
Corporate Transaction), and such Stock Awards shall terminate if not exercised (if applicable) at or prior to the effective time of the Corporate Transaction, and any reacquisition or repurchase rights held by the Company with respect to such Stock
Awards shall lapse (contingent upon the effectiveness of the Corporate Transaction). 
 (iii) Stock Awards Held by Persons other than
Current Participants. Except as otherwise stated in the Stock Award Agreement, in the event of a Corporate Transaction in which the surviving corporation or acquiring corporation (or its parent company) does not assume or continue such
outstanding Stock Awards or substitute similar stock awards for such outstanding Stock Awards, then with respect to Stock Awards that have not been assumed, continued or substituted and that are held by persons other than Current Participants, the
vesting of such Stock Awards (and, if applicable, the time at which such Stock Award may be exercised) shall not be accelerated and such Stock Awards (other than a Stock Award consisting of vested and outstanding shares of Class A Common not
subject to the Company’s right of repurchase) shall terminate if not exercised (if applicable) prior to the effective time of the Corporate Transaction; provided, however, that any reacquisition or repurchase rights held by the Company
with respect to such Stock Awards shall not terminate and may continue to be exercised notwithstanding the Corporate Transaction. 
 (iv)
Payment for Stock Awards in Lieu of Exercise. Notwithstanding the foregoing, in the event a Stock Award will terminate if not exercised prior to the effective time of a Corporate Transaction, the Board may provide, in its sole discretion, that
the holder of such Stock Award may not exercise such Stock Award but will receive a payment, in such form as may be determined by the Board, equal in value to the excess, if any, of (A) the value of the property the holder of the Stock Award
would have received upon the exercise of the Stock Award, over (B) any exercise price payable by such holder in connection with such exercise. 

(d) Change in Control. A Stock Award may be subject to additional acceleration of vesting and exercisability upon or after a Change in
Control as may be provided in the Stock Award Agreement for such Stock Award or as may be provided in any other written agreement between the Company or any Affiliate and the Participant, but in the absence of such provision, no such acceleration
shall occur. 

  
 16. 

	10.	 TERMINATION OR SUSPENSION OF THE
PLAN. 

 (a) Plan Term. The Board may suspend or terminate the Plan at any time. Unless sooner
terminated by the Board pursuant to Section 2, the Plan shall automatically terminate on the day before the tenth (10th) anniversary of the earlier of (i) the date the Plan is adopted by the Board, or (ii) the date the Plan is
approved by the stockholders of the Company; provided, however, that the Plan shall terminate with respect to Israeli participants on December 31, 2018. No Stock Awards may be granted under the Plan while the Plan is suspended or after
it is terminated. 
 (b) No Impairment of Rights. Suspension or termination of the Plan shall not impair rights and obligations under
any Stock Award granted while the Plan is in effect except with the written consent of the affected Participant. 
  

	11.	 EFFECTIVE DATE OF PLAN.

 This Plan shall become effective on the Effective Date.  

 

	12.	 CHOICE OF LAW. 

The law of the State of California shall govern all questions concerning the construction, validity and interpretation of this Plan, without
regard to that state’s conflict of laws rules. 
  

	13.	 DEFINITIONS. As used in the Plan, the following definitions shall apply to the
capitalized terms indicated below: 

 (a) “Affiliate” means, at the time of
determination, any “parent” or “majority-owned subsidiary” of the Company, as such terms are defined in Rule 405 of the Securities Act. The Board shall have the authority to determine the time or times at which “parent”
or “majority-owned subsidiary” status is determined within the foregoing definition. 
 (b) “Board”
means the Board of Directors of the Company. 
 (c) “Capitalization Adjustment” means any change that is made
in, or other events that occur with respect to, the Class A Common subject to the Plan or subject to any Stock Award after the Effective Date without the receipt of consideration by the Company (through merger, consolidation, reorganization,
recapitalization, reincorporation, stock dividend, dividend in property other than cash, stock split, liquidating dividend, combination of shares, exchange of shares, change in corporate structure or other transaction not involving the receipt of
consideration by the Company). Notwithstanding the foregoing, the conversion of any convertible securities of the Company shall not be treated as a transaction “without the receipt of consideration” by the Company. 

(d) “Cause” means with respect to a Participant, the occurrence of any of the following events:
(i) such Participant’s commission of any felony or any crime involving fraud, dishonesty or moral turpitude under the laws of the United States or any state thereof; (ii) such Participant’s attempted commission of, or
participation in, a fraud or act of dishonesty against the Company; (iii) such Participant’s intentional, material violation of any contract or agreement between the Participant and the Company or of any statutory duty owed to the Company;
(iv) such Participant’s unauthorized use or disclosure of the Company’s confidential information or trade secrets; or (v) such Participant’s gross misconduct. The determination that a termination of the Participant’s
Continuous Service is either for Cause or without Cause shall be made by the Company in its sole discretion. Any determination by the Company that the Continuous Service of a Participant was terminated by reason of dismissal without Cause for the
purposes of outstanding Stock Awards held by such Participant shall have no effect upon any determination of the rights or obligations of the Company or such Participant for any other purpose. 

  
 17. 

 (e) “Change in Control” means the occurrence, in a single
transaction or in a series of related transactions, of any one or more of the following events: 
 (i) any Exchange Act Person becomes
the Owner, directly or indirectly, of securities of the Company representing more than fifty percent (50%) of the combined voting power of the Company’s then outstanding securities other than by virtue of a merger, consolidation or similar
transaction. Notwithstanding the foregoing, a Change in Control shall not be deemed to occur (A) on account of the acquisition of securities of the Company by an investor, any affiliate thereof or any other Exchange Act Person that acquires the
Company’s securities in a transaction or series of related transactions the primary purpose of which is to obtain financing for the Company through the issuance of equity securities or (B) solely because the level of Ownership held by any
Exchange Act Person (the “Subject Person”) exceeds the designated percentage threshold of the outstanding voting securities as a result of a repurchase or other acquisition of voting securities by the Company reducing the
number of shares outstanding, provided that if a Change in Control would occur (but for the operation of this sentence) as a result of the acquisition of voting securities by the Company, and after such share acquisition, the Subject Person becomes
the Owner of any additional voting securities that, assuming the repurchase or other acquisition had not occurred, increases the percentage of the then outstanding voting securities Owned by the Subject Person over the designated percentage
threshold, then a Change in Control shall be deemed to occur; 
 (ii) there is consummated a merger, consolidation or similar
transaction involving (directly or indirectly) the Company and, immediately after the consummation of such merger, consolidation or similar transaction, the stockholders of the Company immediately prior thereto do not Own, directly or indirectly,
either (A) outstanding voting securities representing more than fifty percent (50%) of the combined outstanding voting power of the surviving Entity in such merger, consolidation or similar transaction or (B) more than fifty percent (50%)
of the combined outstanding voting power of the parent of the surviving Entity in such merger, consolidation or similar transaction, in each case in substantially the same proportions as their Ownership of the outstanding voting securities of the
Company immediately prior to such transaction; 
 (iii) the stockholders of the Company approve or the Board approves a plan of
complete dissolution or liquidation of the Company, or a complete dissolution or liquidation of the Company shall otherwise occur, except for a liquidation into a parent corporation; 

(iv) there is consummated a sale, lease, exclusive license or other disposition of all or substantially all of the consolidated assets
of the Company and its Subsidiaries, other than a sale, lease, license or other disposition of all or substantially all of the consolidated assets of the Company and its Subsidiaries to an Entity, more than fifty percent (50%) of the combined voting
power of the voting securities of which are Owned by stockholders of the Company in substantially the same proportions as their Ownership of the outstanding voting securities of the Company immediately prior to such sale, lease, license or other
disposition; or 
 (v) individuals who, on the date this Plan is adopted by the Board, are members of the Board (the
“Incumbent Board”) cease for any reason to constitute at least a majority of the members of the Board; provided, however, that if the appointment or election (or nomination for election) of any new Board member was
approved or recommended by a majority vote of the members of the Incumbent Board then still in office, such new member shall, for purposes of this Plan, be considered as a member of the Incumbent Board. 

  
 18. 

 Notwithstanding the foregoing definition or any other provision of this Plan, (A) the term Change in
Control shall not include a sale of assets, merger or other transaction effected exclusively for the purpose of changing the domicile of the Company, and (B) the definition of Change in Control (or any analogous term) in an individual written
agreement between the Company or any Affiliate and the Participant shall supersede the foregoing definition with respect to Stock Awards subject to such agreement; provided, however, that if no definition of Change in Control or any analogous
term is set forth in such an individual written agreement, the foregoing definition shall apply. 
 (f)
“Class A Common” means the Class A common stock of the Company. 
 (g)
“Code” means the Internal Revenue Code of 1986, as amended. 
 (h) “Committee”
means a committee of two (2) or more Directors to whom authority has been delegated by the Board in accordance with Section 2(c). 

(i) “Company” means Medallia, Inc., a Delaware corporation. 

(j) “Consultant” means any person, including an advisor, who is (i) engaged by the Company or an Affiliate
to render consulting or advisory services and is compensated for such services, or (ii) serving as a member of the board of directors of an Affiliate and is compensated for such services. However, service solely as a Director, or payment of a
fee for such service, shall not cause a Director to be considered a “Consultant” for purposes of the Plan.  
 (k)
“Continuous Service” means that the Participant’s service with the Company or an Affiliate, whether as an Employee, Director or Consultant, is not interrupted or terminated. A change in the capacity in which the
Participant renders service to the Company or an Affiliate as an Employee, Director, or Consultant or a change in the Entity for which the Participant renders such service, provided that there is no interruption or termination of the
Participant’s service with the Company or an Affiliate, shall not terminate a Participant’s Continuous Service; provided, however, if the Entity for which a Participant is rendering service ceases to qualify as an Affiliate, as
determined by the Board in its sole discretion, such Participant’s Continuous Service shall be considered to have terminated on the date such Entity ceases to qualify as an Affiliate. For example, a change in status from an employee of the
Company to a consultant of an Affiliate or to a Director shall not constitute an interruption of Continuous Service. To the extent permitted by law, the Board or the chief executive officer of the Company, in that party’s sole discretion, may
determine whether Continuous Service shall be considered interrupted in the case of any leave of absence approved by that party, including sick leave, military leave or any other personal leave. Notwithstanding the foregoing, a leave of absence
shall be treated as Continuous Service for purposes of vesting in a Stock Award only to such extent as may be provided in the Company’s leave of absence policy, in the written terms of any leave of absence agreement or policy applicable to the
Participant, or as otherwise required by law. 
 (l) “Corporate Transaction” means the occurrence, in a single
transaction or in a series of related transactions, of any one or more of the following events: 
 (i) the consummation of a sale
or other disposition of all or substantially all, as determined by the Board in its sole discretion, of the consolidated assets of the Company and its Subsidiaries; 

  
 19. 

 (ii) the consummation of a sale or other disposition of at least ninety percent (90%)
of the outstanding securities of the Company; 
 (iii) the consummation of a merger, consolidation or similar transaction following
which the Company is not the surviving corporation; or 
 (iv) the consummation of a merger, consolidation or similar transaction
following which the Company is the surviving corporation but the shares of Class A Common outstanding immediately preceding the merger, consolidation or similar transaction are converted or exchanged by virtue of the merger, consolidation or
similar transaction into other property, whether in the form of securities, cash or otherwise. 
 (m)
“Director” means a member of the Board. 
 (n) “Disability” means the inability of
a Participant to engage in any substantially gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or which has lasted or can be expected to last for a continuous period of
not less than twelve (12) months, and shall be determined by the Board on the basis of such medical evidence as the Board deems warranted under the circumstances. 

(o) “Effective Date” means the effective date of this Plan, which is the earlier of (i) the date that this
Plan is first approved by the Company’s stockholders, or (ii) the date this Plan is adopted by the Board. 
 (p)
“Employee” means any person employed by the Company or an Affiliate. However, service solely as a Director, or payment of a fee for such services, shall not cause a Director to be considered an “Employee” for
purposes of the Plan. 
 (q) “Entity” means a corporation, partnership, limited liability company or other
entity. 
 (r) “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

(s) “Exchange Act Person” means any natural person, Entity or “group” (within the
meaning of Section 13(d) or 14(d) of the Exchange Act), except that “Exchange Act Person” shall not include (i) the Company or any Subsidiary of the Company, (ii) any employee benefit plan of the Company or any Subsidiary of
the Company or any trustee or other fiduciary holding securities under an employee benefit plan of the Company or any Subsidiary of the Company, (iii) an underwriter temporarily holding securities pursuant to an offering of such securities,
(iv) an Entity Owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their Ownership of stock of the Company; or (v) any natural person, Entity or “group” (within the meaning
of Section 13(d) or 14(d) of the Exchange Act) that, as of the Effective Date of the Plan as set forth in Section 11, is the Owner, directly or indirectly, of securities of the Company representing more than fifty percent (50%) of the
combined voting power of the Company’s then outstanding securities. 
 (t) “Fair Market Value” means, as
of any date, the value of the Class A Common determined by the Board in compliance with Section 409A of the Code or, in the case of an Incentive Stock Option, in compliance with Section 422 of the Code. 

  
 20. 

 (u) “Incentive Stock Option” means an Option that qualifies
as an “incentive stock option” within the meaning of Section 422 of the Code and the regulations promulgated thereunder. 

(v) “Nonstatutory Stock Option” means an Option that does not qualify as an Incentive Stock Option. 

(w) “Officer” means any person designated by the Company as an officer. 

(x) “Option” means an Incentive Stock Option or a Nonstatutory Stock Option to purchase shares of Class A
Common granted pursuant to the Plan. 
 (y) “Option Agreement” means a written agreement between the Company
and an Optionholder evidencing the terms and conditions of an Option grant. Each Option Agreement shall be subject to the terms and conditions of the Plan. 

(z) “Optionholder” means a person to whom an Option is granted pursuant to the Plan or, if applicable, such
other person who holds an outstanding Option. 
 (aa) “Own,” “Owned,”
“Owner,” “Ownership” A person or Entity shall be deemed to “Own,” to have “Owned,” to be the “Owner” of, or to have acquired “Ownership” of securities if
such person or Entity, directly or indirectly, through any contract, arrangement, understanding, relationship or otherwise, has or shares voting power, which includes the power to vote or to direct the voting, with respect to such securities. 

(bb) “Participant” means a person to whom a Stock Award is granted pursuant to the Plan or, if applicable, such
other person who holds an outstanding Stock Award. 
 (cc) “Plan” means this Medallia, Inc. 2008 Equity
Incentive Plan. 
 (dd) “Restricted Stock Award” means an award of shares of Class A Common which is
granted pursuant to the terms and conditions of Section 6(a). 
 (ee) “Restricted Stock Award Agreement”
means a written agreement between the Company and a holder of a Restricted Stock Award evidencing the terms and conditions of a Restricted Stock Award. Each Restricted Stock Award Agreement shall be subject to the terms and conditions of the Plan.

 (ff) “Restricted Stock Unit Award” means a right to receive shares of Class A Common
which is granted pursuant to the terms and conditions of Section 6(b). 
 (gg) “Restricted Stock Unit Award
Agreement” means a written agreement between the Company and a holder of a Restricted Stock Unit Award evidencing the terms and conditions of a Restricted Stock Unit Award grant. Each Restricted Stock Unit Award Agreement
shall be subject to the terms and conditions of the Plan. 
 (hh) “Securities Act” means the Securities Act of
1933, as amended. 
 (ii) “Stock Appreciation Right” means a right to receive the appreciation on Class A
Common that is granted pursuant to the terms and conditions of Section 6(c). 

  
 21. 

 (jj) “Stock Appreciation Right Agreement” means a written
agreement between the Company and a holder of a Stock Appreciation Right evidencing the terms and conditions of a Stock Appreciation Right grant. Each Stock Appreciation Right Agreement shall be subject to the terms and conditions of the Plan. 

(kk) “Stock Award” means any right to receive Class A Common granted under the Plan, including an Incentive
Stock Option, a Nonstatutory Stock Option, a Restricted Stock Award, a Restricted Stock Unit Award, or a Stock Appreciation Right. 
 (ll)
“Stock Award Agreement” means a written agreement between the Company and a Participant evidencing the terms and conditions of a Stock Award grant. Each Stock Award Agreement shall be subject to the terms and conditions
of the Plan. 
 (mm) “Subsidiary” means, with respect to the Company, (i) any corporation of which more
than fifty percent (50%) of the outstanding capital stock having ordinary voting power to elect a majority of the board of directors of such corporation (irrespective of whether, at the time, stock of any other class or classes of such corporation
shall have or might have voting power by reason of the happening of any contingency) is at the time, directly or indirectly, Owned by the Company, and (ii) any partnership, limited liability company or other entity in which the Company has a
direct or indirect interest (whether in the form of voting or participation in profits or capital contribution) of more than fifty percent (50%) . 

(nn) “Ten Percent Stockholder” means a person who Owns (or is deemed to Own pursuant to Section 424(d) of
the Code) stock possessing more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or any Affiliate. 

  
 22. 

 MEDALLIA, INC. 

OPTION AGREEMENT 

(INCENTIVE STOCK OPTION OR NONSTATUTORY STOCK
OPTION) 
 (2008 EQUITY INCENTIVE PLAN) 

Pursuant to your Stock Option Grant Notice (“Grant Notice”) and this Option Agreement, Medallia, Inc. (the
“Company”) has granted you an option under its 2008 Equity Incentive Plan (the “Plan”) to purchase the number of shares of the Company’s Common Stock indicated in your Grant Notice at the exercise
price indicated in your Grant Notice. Defined terms not explicitly defined in this Option Agreement but defined in the Plan shall have the same definitions as in the Plan. 

The details of your option are as follows: 

1. VESTING. Subject to the limitations contained herein, your option will vest as provided in your Grant Notice,
provided that vesting will cease upon the termination of your Continuous Service. 
 2. NUMBER OF
SHARES AND EXERCISE PRICE. The number of shares of Common Stock subject to your option and your exercise price per share referenced in your Grant Notice may be adjusted from time to
time for Capitalization Adjustments. 
 3. EXERCISE RESTRICTION FOR NON-EXEMPT EMPLOYEES. In the event that you are an Employee eligible for overtime compensation under the Fair Labor Standards Act of 1938, as amended (i.e., a “Non-Exempt Employee”), you may not exercise your option until you have completed at least six (6) months of Continuous Service measured from the Date of Grant specified in your Grant Notice,
notwithstanding any other provision of your option. 
 4. EXERCISE PRIOR TO
VESTING (“EARLY EXERCISE”). If permitted in your Grant Notice (i.e., the “Exercise Schedule” indicates “Early Exercise
Permitted”) and subject to the provisions of your option, you may elect at any time that is both (i) during the period of your Continuous Service and (ii) during the term of your option, to exercise all or part of your option,
including the nonvested portion of your option; provided, however, that: 
 (a) a partial exercise of your option shall be
deemed to cover first vested shares of Common Stock and then the earliest vesting installment of unvested shares of Common Stock; 
 (b)
any shares of Common Stock so purchased from installments that have not vested as of the date of exercise shall be subject to the purchase option in favor of the Company as described in the Company’s form of Early Exercise Stock Purchase
Agreement; 
 (c) you shall enter into the Company’s form of Early Exercise Stock Purchase Agreement with a vesting schedule that
will result in the same vesting as if no early exercise had occurred; and 
 (d) if your option is an Incentive Stock Option, then, to
the extent that the aggregate Fair Market Value (determined at the time of grant) of the shares of Common Stock with respect to which your option plus all other Incentive Stock Options you hold are exercisable for the first time by you during any
calendar year (under all plans of the Company and its Affiliates) exceeds one hundred thousand dollars ($100,000), your option(s) or portions thereof that exceed such limit (according to the order in which they were granted) shall be treated as
Nonstatutory Stock Options. 

  
 1. 

 5. METHOD OF PAYMENT. Payment of
the exercise price is due in full upon exercise of all or any part of your option. You may elect to make payment of the exercise price in cash or by check or in any other manner permitted by your Grant Notice, which may include one or
more of the following: 
 (a) Provided that at the time of exercise the Common Stock is publicly traded and quoted regularly in The
Wall Street Journal, pursuant to a program developed under Regulation T as promulgated by the Federal Reserve Board that, prior to the issuance of Common Stock, results in either the receipt of cash (or check) by the Company or the receipt of
irrevocable instructions to pay the aggregate exercise price to the Company from the sales proceeds. 
 (b) Provided that at the time
of exercise the Common Stock is publicly traded and quoted regularly in The Wall Street Journal, by delivery to the Company (either by actual delivery or attestation) of already-owned shares of Common Stock that are owned free and clear of
any liens, claims, encumbrances or security interests, and that are valued at Fair Market Value on the date of exercise. Notwithstanding the foregoing, you may not exercise your option by tender to the Company of Common Stock to the extent such
tender would violate the provisions of any law, regulation or agreement restricting the redemption of the Company’s stock. 
 6.
WHOLE SHARES. You may exercise your option only for whole shares of Common Stock. 
 7.
SECURITIES LAW COMPLIANCE. Notwithstanding anything to the contrary contained herein, you may not exercise your option unless the shares of Common Stock issuable upon such exercise are then
registered under the Securities Act or, if such shares of Common Stock are not then so registered, the Company has determined that such exercise and issuance would be exempt from the registration requirements of the Securities Act. The exercise of
your option also must comply with other applicable laws and regulations governing your option, and you may not exercise your option if the Company determines that such exercise would not be in material compliance with such laws and regulations. 

8. TERM. You may not exercise your option before the commencement or after the expiration of its term. The term of
your option commences on the Date of Grant and expires upon the earliest of the following: 
 (a) three (3) months after the
termination of your Continuous Service for any reason other than cause or your Disability or death, provided that if during any part of such three (3) month period your option is not exercisable solely because of the condition set forth in the
section above relating to “Securities Law Compliance,” your option shall not expire until the earlier of the Expiration Date or until it shall have been exercisable for an aggregate period of three (3) months after the termination of
your Continuous Service; 
 (b) on or prior to the termination of your Continuous Service for cause; 

(c) twelve (12) months after the termination of your Continuous Service due to your Disability; 

(d) eighteen (18) months after your death if you die either during your Continuous Service or within three (3) months after
your Continuous Service terminates; 
 (e) the Expiration Date indicated in your Grant Notice; or 

(f) the day before the tenth (10th) anniversary of the Date of Grant. 

  
 2. 

 If your option is an Incentive Stock Option, note that to obtain the federal income tax
advantages associated with an Incentive Stock Option, the Code requires that at all times beginning on the date of grant of your option and ending on the day three (3) months before the date of your option’s exercise, you must be an
employee of the Company or an Affiliate, except in the event of your death or your permanent and total disability, as defined in Section 22(e)(3) of the Code. The Company has provided for extended exercisability of your option under certain
circumstances for your benefit but cannot guarantee that your option will necessarily be treated as an Incentive Stock Option if you continue to provide services to the Company or an Affiliate as a Consultant or Director after your employment
terminates or if you otherwise exercise your option more than three (3) months after the date your employment with the Company or an Affiliate terminates. 
  

	 	9.	 EXERCISE. 

(a) You may exercise the vested portion of your option (and the unvested portion of your option if your Grant Notice so permits) during
its term by delivering a Notice of Exercise (in a form designated by the Company) together with the exercise price to the Secretary of the Company, or to such other person as the Company may designate, during regular business hours, together with
such additional documents as the Company may then require. 
 (b) By exercising your option you agree that, as a condition to any
exercise of your option, the Company may require you to enter into an arrangement providing for the payment by you to the Company of any tax withholding obligation of the Company arising by reason of (1) the exercise of your option,
(2) the lapse of any substantial risk of forfeiture to which the shares of Common Stock are subject at the time of exercise, or (3) the disposition of shares of Common Stock acquired upon such exercise. 

(c) If the Company or any of its subsidiaries is obligated to pay employer’s social security contributions as a consequence of this
Option Agreement, you shall be obligated to cover the employer’s social security contributions in the following way: you shall pay an Addition (“A”) to the Exercise Price described in Section 5(b) and Section 5(c) of the
Plan, calculated as follows: 
 A = ESS x (FMV—EP)/(1 + ESS), where 

ESS = Employer’s social security tax rate; 

FMV = Fair Market Value of the underlying shares at the time of exercise; and 

EP = Exercise Price, as descrived in Sections 5(b) and (c) of the Plan. 

By way of example, with a rate of 26.6% for employer’s social security contributions, the Addition to the Exercise Price will be
0.210110584 multiplied by the difference between the Fair Market Value of the underlying shares at the time of exercise and the Exercise Price. With a rate of 14.15% for employer’s social security contributions, the Addition to the Exercise
Price will be 0.1235758 multiplied by the difference between the Fair Market Value of the underlying shares at the time of exercise and the Exercise Price 

(d) If your option is an Incentive Stock Option, by exercising your option you agree that you will notify the Company in writing within
fifteen (15) days after the date of any disposition of any of the shares of the Common Stock issued upon exercise of your option that occurs within two (2) years after the date of your option grant or within one (1) year after such
shares of Common Stock are transferred upon exercise of your option. 

  
 3. 

 (e) By exercising your option you agree that you shall not sell, dispose of,
transfer, make any short sale of, grant any option for the purchase of, or enter into any hedging or similar transaction with the same economic effect as a sale, any shares of Common Stock or other securities of the Company held by you, for a period
of one hundred eighty (180) days following the effective date of a registration statement of the Company filed under the Securities Act or such longer period as necessary to permit compliance with FINRA Rule 2711 or NYSE Member Rule 472 and
similar rules and regulations (the “Lock-Up Period”); provided, however, that nothing contained in this section shall prevent the exercise of a repurchase option, if any, in
favor of the Company during the Lock-Up Period. You further agree to execute and deliver such other agreements as may be reasonably requested by the Company and/or the underwriter(s) that are consistent with
the foregoing or that are necessary to give further effect thereto. In order to enforce the foregoing covenant, the Company may impose stop-transfer instructions with respect to your shares of Common Stock until the end of such period. The
underwriters of the Company’s stock are intended third party beneficiaries of this Section 9(d) and shall have the right, power and authority to enforce the provisions hereof as though they were a party hereto. 

10. TRANSFERABILITY. Your option is not transferable, except by will or by the laws of descent and distribution,
and is exercisable during your life only by you. Notwithstanding the foregoing, by delivering written notice to the Company, in a form satisfactory to the Company, you may designate a third party who, in the event of your death, shall thereafter be
entitled to exercise your option. In addition, if permitted by the Company you may transfer your option to a trust if you are considered to be the sole beneficial owner (determined under Section 671 of the Code and applicable state law) while
the option is held in the trust, provided that you and the trustee enter into a transfer and other agreements required by the Company. 

11. RIGHT OF FIRST REFUSAL. Shares of Common Stock that you acquire
upon exercise of your option are subject to any right of first refusal that may be described in the Company’s bylaws in effect at such time the Company elects to exercise its right; provided, however, that if your option is an Incentive
Stock Option and the right of first refusal described in the Company’s bylaws in effect at the time the Company elects to exercise its right is more beneficial to you than the right of first refusal described in the Company’s bylaws on the
Date of Grant, then the right of first refusal described in the Company’s bylaws on the Date of Grant shall apply. The Company’s right of first refusal shall expire on the first date upon which any security of the Company is listed (or
approved for listing) upon notice of issuance on a national securities exchange or quotation system. 
 12. RIGHT
OF REPURCHASE. To the extent provided in the Company’s bylaws in effect at such time the Company elects to exercise its right, the Company shall have the right to repurchase all or any part of the shares of
Common Stock you acquire pursuant to the exercise of your option. 
 13. OPTION NOT A
SERVICE CONTRACT. Your option is not an employment or service contract, and nothing in your option shall be deemed to create in any way whatsoever any obligation on your part to continue in the employ of the Company
or an Affiliate, or of the Company or an Affiliate to continue your employment. In addition, nothing in your option shall obligate the Company or an Affiliate, their respective stockholders, Boards of Directors, Officers or Employees to continue any
relationship that you might have as a Director or Consultant for the Company or an Affiliate. 
  

	 	14.	 WITHHOLDING OBLIGATIONS. 

(a) At the time you exercise your option, in whole or in part, or at any time thereafter as requested by the Company, you hereby
authorize withholding from payroll and any other amounts payable to you, and otherwise agree to make adequate provision for (including by means of a “cashless exercise” pursuant to a program developed under Regulation T as promulgated by
the Federal Reserve Board to the extent permitted by the Company), any sums required to satisfy the federal, state, local and foreign tax withholding obligations of the Company or an Affiliate, if any, which arise in connection with the exercise of
your option. 

  
 4. 

 (b) Upon your request and subject to approval by the Company, in its sole discretion,
and compliance with any applicable legal conditions or restrictions, the Company may withhold from fully vested shares of Common Stock otherwise issuable to you upon the exercise of your option a number of whole shares of Common Stock having a Fair
Market Value, determined by the Company as of the date of exercise, not in excess of the minimum amount of tax required to be withheld by law (or such lower amount as may be necessary to avoid classification of your option as a liability for
financial accounting purposes). If the date of determination of any tax withholding obligation is deferred to a date later than the date of exercise of your option, share withholding pursuant to the preceding sentence shall not be permitted unless
you make a proper and timely election under Section 83(b) of the Code, covering the aggregate number of shares of Common Stock acquired upon such exercise with respect to which such determination is otherwise deferred, to accelerate the
determination of such tax withholding obligation to the date of exercise of your option. Notwithstanding the filing of such election, shares of Common Stock shall be withheld solely from fully vested shares of Common Stock determined as of the date
of exercise of your option that are otherwise issuable to you upon such exercise. Any adverse consequences to you arising in connection with such share withholding procedure shall be your sole responsibility. 

(c) You may not exercise your option unless the tax withholding obligations of the Company and/or any Affiliate are satisfied.
Accordingly, you may not be able to exercise your option when desired even though your option is vested, and the Company shall have no obligation to issue a certificate for such shares of Common Stock or release such shares of Common Stock from any
escrow provided for herein unless such obligations are satisfied. 
 15. TAX
CONSEQUENCES. You hereby agree that the Company does not have a duty to design or administer the Plan or its other compensation programs in a manner that minimizes your tax liabilities. You shall not make any claim
against the Company, or any of its Officers, Directors, Employees or Affiliates related to tax liabilities arising from your option or your other compensation. In particular, you acknowledge that this option is exempt from Section 409A of the
Code only if the exercise price per share specified in the Grant Notice is at least equal to the “fair market value” per share of the Common Stock on the Date of Grant and there is no other impermissible deferral of compensation associated
with the option. Because the Common Stock is not traded on an established securities market, the Fair Market Value is determined by the Board, perhaps in consultation with an independent valuation firm retained by the Company. You acknowledge that
there is no guarantee that the Internal Revenue Service will agree with the valuation as determined by the Board, and you shall not make any claim against the Company, or any of its Officers, Directors, Employees or Affiliates in the event that the
Internal Revenue Service asserts that the valuation determined by the Board is less than the “fair market value” as subsequently determined by the Internal Revenue Service. 

16. NOTICES. Any notices provided for in your option or the Plan shall be given in writing and shall be deemed
effectively given upon receipt or, in the case of notices delivered by mail by the Company to you, five (5) days after deposit in the United States mail, postage prepaid, addressed to you at the last address you provided to the Company. 

17. GOVERNING PLAN DOCUMENT. Your option is subject to all the provisions of the
Plan, the provisions of which are hereby made a part of your option, and is further subject to all interpretations, amendments, rules and regulations, which may from time to time be promulgated and adopted pursuant to the Plan. In the event of any
conflict between the provisions of your option and those of the Plan, the provisions of the Plan shall control. 
 * * * * 

  
 5. 

 MEDALLIA, INC. 

OPTION AGREEMENT FOR NON-U.S.
OPTIONHOLDERS 
 (2008 EQUITY INCENTIVE PLAN) 

Pursuant to your Stock Option Grant Notice (“Grant Notice”) and this Option Agreement for
Non-U.S. Optionholders (“Option Agreement”), including any country-specific terms set forth in the addendum attached hereto (the “Addendum” and, together with
the Grant Notice and the Option Agreement, the “Agreement”), Medallia, Inc. (the “Company”) has granted you an option under its 2008 Equity Incentive Plan (the “Plan”) to
purchase the number of shares of the Company’s Common Stock indicated in your Grant Notice at the exercise price indicated in your Grant Notice. Capitalized terms not explicitly defined in this Agreement but defined in the Plan shall have the
same definitions as in the Plan. 
 The details of your option are as follows: 

1. VESTING. Subject to the limitations contained herein, your option will vest as provided in your Grant Notice,
provided that vesting will cease upon the termination of your Continuous Service. For purposes of your option, your Continuous Service will be considered terminated as of the date you are no longer actively providing services to the Company or one
of its Affiliates (regardless of the reason for such termination and whether or not later found to be invalid or in breach of the employment laws of the jurisdiction where you are employed or engaged, or the terms of your employment or service
agreement, if any), and unless otherwise expressly provided in the Agreement or determined by the Company, your right to vest in your option under the Plan, if any, will terminate as of such date and will not be extended by any notice period
(e.g., your period of service would not include any contractual notice period or any period of “garden leave” or similar period mandated under the employment laws of the jurisdiction where you are employed or engaged, or the terms
of your employment or service agreement, if any); the Board shall have the exclusive discretion to determine when you are no longer actively providing services for purposes of your option grant (including whether you may still be considered to be
providing services while on a leave of absence). 
 2. NUMBER OF SHARES
AND EXERCISE PRICE. The number of shares of Common Stock subject to your option and your exercise price per share referenced in your Grant Notice may be adjusted from time to time for Capitalization
Adjustments. 
 3. EXERCISE RESTRICTION FOR NON-EXEMPT EMPLOYEES. In the event that you are an Employee eligible for overtime compensation under the United States (“U.S.”) Fair Labor Standards Act of
1938, as amended (i.e., a “Non-Exempt Employee”), you may not exercise your option until you have completed at least six (6) months of Continuous Service measured from the
Date of Grant specified in your Grant Notice, notwithstanding any other provision of your option. 
 4. EXERCISE
PRIOR TO VESTING (“EARLY EXERCISE”). If permitted in your Grant Notice (i.e., the “Exercise
Schedule” indicates “Early Exercise Permitted”) and subject to the provisions of the Option Agreement, you may elect at any time that is both (i) during the period of your Continuous Service and (ii) during the term of your
option, to exercise all or part of your option, including the nonvested portion of your option; provided, however, that: 
 (a)
a partial exercise of your option shall be deemed to first cover any vested portion of your option and then the earliest vesting installment of the unvested portion of your option; 

(b) any shares of Common Stock so purchased from installments of your option that have not vested as of the date of exercise shall be
subject to the purchase option in favor of the Company as described in the Company’s form of Early Exercise Stock Purchase Agreement; 

  
 1. 

 (c) you shall enter into the Company’s form of Early Exercise Stock Purchase
Agreement with a vesting schedule that will result in the same vesting as if no early exercise had occurred; and 
 (d) if your option
is an Incentive Stock Option, then, to the extent that the aggregate Fair Market Value (determined at the time of grant) of the shares of Common Stock with respect to which your option plus all other Incentive Stock Options you hold are exercisable
for the first time by you during any calendar year (under all plans of the Company and its Affiliates) exceeds one hundred U.S. thousand dollars (US$100,000), your option(s) or portions thereof that exceed such limit (according to the order in which
they were granted) shall be treated as Nonstatutory Stock Options. 
 5. METHOD OF
PAYMENT. Payment of the exercise price is due in full upon exercise of all or any part of your option. You may elect to make payment of the exercise price in cash or by check or in any other manner permitted by your Grant
Notice or set forth in the Addendum for your country, which may include one or more of the following: 
 (a) Provided that at
the time of exercise the Common Stock is publicly traded and quoted regularly in The Wall Street Journal, pursuant to a program developed under Regulation T as promulgated by the U.S. Federal Reserve Board that, prior to the issuance of
Common Stock, results in either the receipt of cash (or check) by the Company or the receipt of irrevocable instructions to pay the aggregate exercise price and any Tax-Related Items withholding to the Company
from the sales proceeds. 
 (b) Provided that at the time of exercise the Common Stock is publicly traded and quoted regularly in
The Wall Street Journal, by delivery to the Company (either by actual delivery or attestation) of already-owned shares of Common Stock that are owned free and clear of any liens, claims, encumbrances or security interests, and that are valued
at Fair Market Value on the date of exercise. Notwithstanding the foregoing, you may not exercise your option by tender to the Company of Common Stock to the extent such tender would violate the provisions of any law, regulation or agreement
restricting the redemption of the Company’s stock. 
 6. WHOLE SHARES. You may exercise your
option only for whole shares of Common Stock. 
 7. COMPLIANCE WITH LAWS.
Notwithstanding anything to the contrary contained herein, you may not exercise your option unless the shares of Common Stock issuable upon such exercise are then registered under the Securities Act and are registered or qualified under any
applicable local, state, federal or foreign securities or exchange control law or under rulings or regulations of any other governmental regulatory body or, if such shares of Common Stock are not then so registered or qualified, the Company has
determined that such exercise and issuance would be exempt from applicable registration or qualification requirements. You understand that the Company is under no obligation to register or qualify the shares of Common Stock with the U.S. Securities
and Exchange Commission or any other state or foreign securities commission or regulatory authority, or to seek approval or clearance from any such governmental authority for the issuance or sale of shares of Common Stock. Further, you agree that
the Company shall have unilateral authority to amend the Plan and the Agreement, without your consent, to the extent that the Company determines that such amendment is necessary to comply with securities or other laws governing your option or the
underlying shares of Common Stock. 
 8. TERM. You may not exercise your option before the commencement or after
the expiration of its term. The term of your option commences on the Date of Grant and expires upon the earliest of the following: 
 (a)
three (3) months after the termination of your Continuous Service for any reason other than cause or your Disability or death, provided that if during any part of such three (3) month period your option is not exercisable solely
because of the condition set forth in the section above relating to “Compliance with Laws,” your option shall not expire until the earlier of the Expiration Date or until it shall have been exercisable for an aggregate period of three
(3) months after the termination of your Continuous Service; 

  
 2. 

 (b) on or prior to the termination of your Continuous Service for cause; 

(c) twelve (12) months after the termination of your Continuous Service due to your Disability; 

(d) eighteen (18) months after your death if you die either during your Continuous Service or within three (3) months after
your Continuous Service terminates; 
 (e) the Expiration Date indicated in your Grant Notice; or 

(f) the day before the tenth (10th) anniversary of the Date of Grant. 

As set forth in Section 1, your Continuous Service will be considered terminated as of the date that you are no longer actively providing
services to the Company or one of its Affiliates. Accordingly, the period (if any) during which you may exercise your option after termination of your Continuous Service will commence on the date you cease to actively provide services and will not
be extended by any notice period mandated under the employment laws of the jurisdiction where you are employed or engaged, or terms of your employment or service agreement, if any; the Board shall have the exclusive discretion to determine when you
are no longer actively providing services for purposes of your option grant (including whether you may still be considered to be providing services while on a leave of absence). 

If you are a U.S. taxpayer and your option is an Incentive Stock Option, note that to obtain the U.S. federal income tax advantages associated
with an Incentive Stock Option, the Code requires that at all times beginning on the Date of Grant of your option and ending on the day three (3) months before the date of your option’s exercise, you must be an employee of the Company or
an Affiliate, except in the event of your death or your permanent and total disability, as defined in Section 22(e)(3) of the Code. The Company has provided for extended exercisability of your option under certain circumstances for your
benefit, but cannot guarantee that your option will necessarily be treated as an Incentive Stock Option if you continue to provide services to the Company or an Affiliate as a Consultant or Director after your employment terminates, or if you
otherwise exercise your option more than three (3) months after the date your employment with the Company or an Affiliate terminates. 
  

	 	9.	 EXERCISE. 

(a) You may exercise the vested portion of your option (and the unvested portion of your option if your Grant Notice so permits) during
its term by delivering a Notice of Exercise (in a form designated by the Company) together with the exercise price to the Secretary of the Company, or to such other person as the Company may designate, during regular business hours, together with
such additional documents as the Company may then require. 
 (b) By exercising your option you agree that, as a condition to any
exercise of your option, the Company may require you to enter into an arrangement providing for the payment by you to the Company of any Tax-Related Items that the Company or, if different, your employer
(“Employer”) is required to withhold by reason of (1) the exercise of your option, (2) the lapse of any substantial risk of forfeiture to which the shares of Common Stock are subject at the time of exercise, or
(3) the disposition of shares of Common Stock acquired upon such exercise, as set forth in Section 10 below. 

  
 3. 

 (c) If your option is an Incentive Stock Option, by exercising your option you agree
that you will notify the Company in writing within fifteen (15) days after the date of any disposition of any of the shares of the Common Stock issued upon exercise of your option that occurs within two (2) years after the date of your
option grant or within one (1) year after such shares of Common Stock are transferred upon exercise of your option. 
 (d) By
exercising your option you agree that you shall not sell, dispose of, transfer, make any short sale of, grant any option for the purchase of, or enter into any hedging or similar transaction with the same economic effect as a sale, any shares of
Common Stock or other securities of the Company held by you, for a period of one hundred eighty (180) days following the effective date of a registration statement of the Company filed under the Securities Act or such longer period as necessary
to permit compliance with FINRA Rule 2711 or NYSE Member Rule 472 and similar rules and regulations (the “Lock-Up Period”); provided, however, that nothing contained in this
section shall prevent the exercise of a repurchase option, if any, in favor of the Company during the Lock-Up Period. You further agree to execute and deliver such other agreements as may be reasonably
requested by the Company and/or the underwriter(s) that are consistent with the foregoing or that are necessary to give further effect thereto. In order to enforce the foregoing covenant, the Company may impose stop-transfer instructions with
respect to your shares of Common Stock until the end of such period. The underwriters of the Company’s stock are intended third party beneficiaries of this Section 9(d) and shall have the right, power and authority to enforce the
provisions hereof as though they were a party hereto. 
  

	 	10.	 TAX-RELATED ITEMS.

 (a) Tax Obligations. By exercising your option, you acknowledge that: 

(i) regardless of any action taken by the Company or your Employer, the ultimate liability for all income tax, social insurance,
payroll tax, fringe benefits tax, payment on account or other tax-related items related to your participation in the Plan and legally applicable to you
(“Tax-Related Items”), is and remains your responsibility and may exceed the amount actually withheld by the Company or your Employer (if any); 

(ii) the Company and/or your Employer make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of your option, including, but not limited to, the grant, vesting or exercise of your option, lapse of any substantial risk of forfeiture to which the shares of Common
Stock are subject at the time of exercise, the subsequent sale or disposal of shares of Common Stock acquired pursuant to such exercise and the receipt of any dividends; 

(iii) the Company and/or your Employer do not commit to and are under no obligation to structure the terms of the grant or any aspect
of your option to reduce or eliminate your liability for Tax-Related Items or achieve any particular tax result; 

(iv) if you are a U.S. taxpayer, you acknowledge that this option is exempt from Section 409A of the Code only if the exercise
price per share specified in the Grant Notice is at least equal to the “fair market value” per share of the Common Stock on the Date of Grant and there is no other impermissible deferral of compensation associated with the option. Because
the Common Stock is not traded on an established securities market, the Fair Market Value is determined by the Board, perhaps in consultation with an independent valuation firm retained by the Company. You acknowledge that there is no guarantee that
the U.S. Internal Revenue Service will agree with the valuation as determined by the Board, and you shall not make any claim against the Company, or any of its Officers, Directors, Employees or Affiliates in the event that the U.S. Internal Revenue
Service asserts that the valuation determined by the Board is less than the “fair market value” as subsequently determined by the U.S. Internal Revenue Service, and 

(v) if you are subject to Tax-Related Items in more than one jurisdiction between the Date of
Grant and the date of any relevant taxable or tax withholding event, as applicable, the Company and/or your Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related
Items in more than one jurisdiction. 

  
 4. 

 (b) Tax Withholding. 

(i) Prior to any relevant taxable or tax withholding event, as applicable, you agree to make adequate arrangements satisfactory to the
Company and/or your Employer to satisfy all Tax-Related Items. In this regard, you authorize the Company and/or your Employer, or their respective agents, at their discretion, to satisfy their respective
withholding obligations for any applicable Tax-Related Items by withholding from your wages or other cash compensation payable to you by the Company and/or your Employer or by accepting a check, cash or
payment directly from you. Alternatively, the Company and/or your Employer may, but will not be required to, satisfy their respective withholding obligations for Tax-Related Items by one of the methods set
forth in Section 5(a)-(b) above. 
 (ii) Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case you will receive a cash refund of any
over-withheld amount that is not remitted to applicable tax authorities on your behalf and will have no entitlement to the Common Stock equivalent. If the obligation for Tax-Related Items is satisfied by
withholding in shares of Common Stock, for tax purposes, you are deemed to have been issued the full number of shares of Common Stock subject to the exercised portion of your option, notwithstanding that a number of the shares of Common Stock are
held back solely for the purpose of paying the Tax-Related Items. If the date of determination of any Tax-Related Withholding obligation is deferred to a date later than
the date of exercise of your option, share withholding pursuant to the preceding sentence shall not be permitted if you are a U.S. taxpayer unless you make a proper and timely election under Section 83(b) of the Code, covering the aggregate
number of shares of Common Stock acquired upon such exercise with respect to which such determination is otherwise deferred, to accelerate the determination of such Tax-Related Item withholding obligation to
the date of exercise of your option. Notwithstanding the filing of such election, shares of Common Stock shall be withheld solely from fully vested shares of Common Stock determined as of the date of exercise of your option that are otherwise
issuable to you upon such exercise. The Company may refuse to issue or deliver the shares or the proceeds of the sale of shares of Common Stock if you fail to comply with your obligations in connection with the
Tax-Related Items. 
 11. TRANSFERABILITY. Your option is not
transferable, except by will or by the laws of descent and distribution, and is exercisable during your life only by you. Notwithstanding the foregoing, if permitted by the Company, the delivery of written notice to the Company, you may designate a
third party who, in the event of your death, shall thereafter be entitled to exercise your option. In addition, if permitted by the Company you may transfer your option to a trust if you are considered to be the sole beneficial owner (determined
under Section 671 of the Code and applicable state law) while your option is held in the trust, provided that you and the trustee enter into a transfer and other agreements required by the Company. 

12. RIGHT OF FIRST REFUSAL. Shares of Common Stock that you acquire
upon exercise of your option are subject to any right of first refusal that may be described in the Company’s bylaws in effect at such time the Company elects to exercise its right; provided, however, that if your option is an Incentive
Stock Option and the right of first refusal described in the Company’s bylaws in effect at the time the Company elects to exercise its right is more beneficial to you than the right of first refusal described in the Company’s bylaws on the
Date of Grant, then the right of first refusal described in the Company’s bylaws on the Date of Grant shall apply. The Company’s right of first refusal shall expire on the first date upon which any security of the Company is listed (or
approved for listing) upon notice of issuance on a national securities exchange or quotation system. 

  
 5. 

 13. RIGHT OF REPURCHASE. To the
extent provided in the Company’s bylaws in effect at such time the Company elects to exercise its right, the Company shall have the right to repurchase all or any part of the shares of Common Stock you acquire pursuant to the exercise of your
option. 
 14. NO EMPLOYMENT OR SERVICE
RELATIONSHIP. Neither the grant of your option or anything contained in the Agreement shall (i) be interpreted as forming an employment or service contract between you and the Company, your Employer or any Affiliate of the
Company, or (ii) be deemed to create in any way whatsoever any obligation on your part to continue in the employ or service of the Company or an Affiliate, or of the Company or an Affiliate to continue your employment or service relationship.

 15. NATURE OF GRANT. In accepting your option, you acknowledge,
understand and agree that: 
 (a) the Plan is established voluntarily by the Company, it is discretionary in nature, and may be
amended, suspended or terminated by the Company at any time, to the extent permitted by the Plan; 
 (b) the grant of option is
voluntary and occasional and does not create any contractual or other right to receive future grants of options, or benefits in lieu of options, even if options have been granted in the past; 

(c) all decisions with respect to future option or other grants, if any, will be at the sole discretion of the Company; 

(d) you are voluntarily participating in the Plan; 

(e) your option and any shares of Common Stock acquired under the Plan are not intended to replace any pension rights or compensation;

 (f) your option and any shares of Common Stock acquired under the Plan, and the income and value of same, are not part of your
normal or expected compensation for any purpose, including, without limitation, calculating any severance, resignation, termination, redundancy, dismissal,
end-of-service payments, bonuses, long-service awards, pension or retirement or welfare benefits or similar payments; 

(g) unless otherwise agreed with the Company, the option and the shares of Common Stock subject to the option, and the income and value
of the same, are not granted in consideration for, or in connection with, the service you may provide as a director of any parent or Subsidiary; 

(h) the future value of the shares of Common Stock underlying your option is unknown, indeterminable, and cannot be predicted with
certainty; 
 (i) if the underlying shares of Common Stock do not increase in value, your option will have no value; 

(j) if you exercise your option and acquire shares of Common Stock, the value of such shares of Common Stock may increase or decrease in
value, even below the exercise price; 
 (k) no claim or entitlement to compensation or damages shall arise from forfeiture of your
option resulting from the termination of your Continuous Service (for any reason whatsoever, whether or not later found to be invalid or in breach of the employment laws of the jurisdiction where you are employed or engaged, or the terms of your
employment or service agreement, if any) and, in consideration of the grant of your option to which you are otherwise not entitled, you irrevocably agree (i) 

  
 6. 

 
never to institute any claim against the Company, your Employer or any Affiliate, (ii) waive your ability, if any, to bring any such claim, and (iii) release the Company, your Employer
and all Affiliates from any such claim; if, notwithstanding the foregoing, any such claim is allowed by a court of competent jurisdiction, then, by accepting your option grant, you shall be deemed irrevocably to have agreed not to pursue such claim
and agree to execute any and all documents necessary to request dismissal or withdrawal of such claim; 
 (l) unless otherwise
provided in the Plan or by the Company in its discretion, your option and the benefits evidenced by the Agreement do not create any entitlement to have your option or any such benefits transferred to, or assumed by, another company nor to be
exchanged, cashed out or substituted for, in connection with any Corporate Transaction; and 
 (m) neither the Company or any
Affiliate (including your Employer) shall be liable for any foreign exchange rate fluctuation between your local currency and the U.S. dollar that may affect the value of your option or of any amounts due to you pursuant to the exercise of
your option or the subsequent sale of any shares of Common Stock acquired upon exercise. 
 16. NO
ADVICE REGARDING GRANT. The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding your participation in the Plan, or your
acquisition or sale of the underlying shares of Common Stock. You are hereby advised to consult with your own personal tax, legal and financial advisors regarding your participation in the Plan before taking any action related to the Plan. 

17. DATA PRIVACY. You hereby explicitly and unambiguously consent
to the collection, use and transfer, in electronic or other form, of your personal data as described in the Agreement and any other option grant materials (“Data”) by and among, as applicable, you Employer, the Company
and its Affiliates, for the exclusive purpose of implementing, administering and managing your participation in the Plan.  
 You
understand that the Company and your Employer may hold certain personal information about you, including, but not limited to, your name, home address and telephone number, date of birth, social insurance number or other identification number,
salary, nationality, job title, any shares of Common Stock or directorships held in the Company, details of all options or any other entitlement to shares of Common Stock awarded, canceled, exercised, vested, unvested or outstanding in your favor,
for the exclusive purpose of implementing, administering and managing the Plan. 
 You understand that Data may be transferred to a
broker or stock plan service provider designated by the Company (presently or in the future) to assist the Company with the implementation, administration and management of the Plan. You understand that the recipients of the Data may be located in
the United States or elsewhere, and that a recipient’s country of operation (e.g., the United States) may have different data privacy laws and protections than your country. You may request a list with the names and addresses of any potential
recipients of the Data by contacting your local human resources representative. 
 You authorize the Company, the Company’s designated broker or
stock plan service provider (if applicable) and any other possible recipients which may assist the Company (presently or in the future) with implementing, administering and managing the Plan to receive, possess, use, retain and transfer the Data, in
electronic or other form, for the sole purposes of implementing, administering and managing your participation in the Plan. You understand that Data will be held only as long as is necessary to implement, administer and manage your participation in
the Plan. You understand that you may, at any time, view Data, request additional information about the storage and processing of Data, require any necessary amendments to Data or refuse or withdraw the consents herein, in any case without cost, by
contacting in writing your local human resources representative. Further, you understand that you are providing the consents herein on a purely voluntary basis. If you do not consent, or if you later seek to

  
 7. 

 
revoke your consent, your employment status or service and career with your Employer will not be adversely affected; the only adverse consequence of refusing or withdrawing your consent is that
the Company would not be able to grant you options or other equity awards, or administer or maintain such awards. Therefore, you understand that refusing or withdrawing your consent may affect your ability to participate in the Plan. For more
information on the consequences of your refusal to consent or withdrawal of consent, you understand that you may contact your local human resources representative. 

18. GOVERNING LAW. The option grant and the provisions of the Agreement are governed
by, and subject to, the laws of the State of California, without regard to the conflict of law provisions, as provided in the Plan. 
 19.
VENUE. For purposes of any action, lawsuit or other proceedings brought to enforce the Agreement, relating to it, or arising from it, the parties hereby submit to and consent to the sole and exclusive
jurisdiction of the courts of Santa Clara County, California, or the federal courts for the United States for the Northern District of California, and no other courts, where this grant is made and/or to be performed. 

20. ELECTRONIC DELIVERY AND ACCEPTANCE. The Company
may, in its sole discretion, decide to deliver any documents related to your current or future participation in the Plan by electronic means. You hereby consent to receive such documents by electronic delivery and agree to participate in the Plan
through an on-line or electronic system established and maintained by the Company or a third party designated by the Company. 

21. LANGUAGE. If you have received the Agreement or any other document related to your option
and/or the Plan translated into a language other than English and if the meaning of the translated version is different than the English version, the English version will control. 

22. SEVERABILITY. The provisions of the Agreement are severable and, if any one or more provisions
are determined to be illegal or otherwise unenforceable, in whole or in part, the remaining provisions shall nevertheless be binding and enforceable. 

23. ADDENDUM. Notwithstanding any provisions of the Agreement, your option shall be subject to any
special terms and conditions for your country set forth in the Addendum. Moreover, if you relocate to one of the countries included in the Addendum, the special terms and conditions for such country will apply to you, to the extent that the Company
determines that the application of such terms and conditions is necessary or advisable for legal or administrative reasons. The Addendum constitutes part of the Agreement. 

24. IMPOSITION OF OTHER REQUIREMENTS. The Company
reserves the right to impose other requirements on your participation in the Plan, on your option and on any shares of Common Stock acquired upon exercise of your option, to the extent that the Company determines it is necessary or advisable for
legal or administrative reasons, and to require you to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing. 

25. WAIVER. You acknowledge that a waiver by the Company of breach of any provision of the
Agreement shall not operate or be construed as a waiver of any other provision of the Agreement, or of any subsequent breach by you or any other Optionholder. 

26. NOTICES. Any notices provided for in your option or the Plan shall be given in writing and shall be deemed
effectively given upon receipt or, in the case of notices delivered by mail by the Company to you, ten (10) days after deposit in the mail, postage prepaid, addressed to you at the last address you provided to the Company. 

  
 8. 

 27. GOVERNING PLAN DOCUMENT. Your
option is subject to all the provisions of the Plan, the provisions of which are hereby made a part of your option, and is further subject to all interpretations, amendments, rules and regulations, which may from time to time be promulgated and
adopted pursuant to the Plan. In the event of any conflict between the provisions of the Agreement and those of the Plan, the provisions of the Plan shall control. 

* * * * 

  
 9. 

 ADDENDUM TO THE 

MEDALLIA, INC. 

OPTION AGREEMENT FOR NON-U.S.
OPTIONHOLDERS 
 (2008 EQUITY INCENTIVE PLAN) 

TERMS AND CONDITIONS 

This Addendum includes additional terms and conditions that govern the grant of your option if you work in one of the countries listed below. If you are a
citizen or resident of a country (or are considered as such for local law purposes) other than the one in which you are currently working, or if you relocate to another country after receiving the grant of the option, the Company will, in its
discretion, determine the extent to which the terms and conditions contained herein will be applicable to you. 
 Certain capitalized terms used but not
defined in this Addendum shall have the meanings given to such terms in the Plan and/or the Agreement to which this Addendum is attached. 

NOTIFICATIONS 

This Addendum also includes notifications relating to exchange control and other issues of which you should be aware with respect to your participation in the
Plan. These notifications are based on the exchange control, securities and other laws in effect in the countries listed in this Addendum as of July 2015. Such laws are often complex and change frequently. As a result, the Company strongly
recommends that you not rely on the notifications herein as the only source of information relating to the consequences of your participation in the Plan because the information may be outdated when you exercise your option and acquires shares of
Common Stock, or when you subsequently sell such shares. 
 In addition, the notifications in this Addendum are general in nature and may not apply to your
particular situation, and the Company is not in a position to assure you of any particular result. Accordingly, you are advised to seek appropriate professional advice as to how the relevant laws in your country may apply to your individual
situation. 
 Finally, if you are a citizen or resident of a country (or are considered as such for local law purposes) other than the one in which you are
currently working, or you move to another country after being granted your option, the notifications contained herein may not be applicable to you. 

  
 1. 

 ARGENTINA 

TERMS AND CONDITIONS 

Method of Payment. The following provision replaces Section 5(b) of this Agreement: 

(b) At the discretion of the Company, you may be required to pay the aggregate exercise price by a “net exercise” arrangement
pursuant to which the Company will reduce the number of shares of Common Stock issuable upon exercise by the largest whole number of shares with fair value on the date of exercise that does not exceed the aggregate exercise price. Notwithstanding
anything in the Plan or Agreement, if the Company requires payment of the aggregate exercise price by a net exercise arrangement, payment of the exercise price in cash or by check will not be allowed. Further, you may not exercise your option by
tender to the Company of Common Stock to the extent such tender would violate the provisions of a law, regulation or agreement restricting the redemption of the Company’s stock. 

Tax Withholding. The following provision replaces Section 10(b)(i) of this Agreement: 

Prior to any relevant taxable or tax withholding event, as applicable, you agree to make adequate arrangements satisfactory to the Company and/or your Employer
to satisfy all Tax-Related Items. In this regard, you authorize the Company and/or your Employer, or their respective agents, at their discretion, to satisfy their respective withholding obligations for any
applicable Tax-Related Items by withholding from your wages or other cash compensation payable to you by the Company and/or your Employer or by accepting a check, cash or payment directly from you.
Alternatively, the Company and/or your Employer may, but will not be required to, satisfy their respective withholding obligations for Tax-Related Items by one of the methods set forth in Section 5(a)-(b)
above, including by a “net exercise” arrangement to satisfy any Tax-Related Items withholding. 

Term. The following provision replaces Section 8(a) of this Agreement: 

(a) two (2) weeks after the termination of your Continuous Service for any reason other than cause or your Disability or death,
provided that if during any part of such two (2) week period your option is not exercisable solely because of the condition set forth in the section above relating to “Compliance with Laws,” the Board may, in its exclusive discretion,
determine that your option shall not expire until the earlier of the Expiration Date or until it shall have been exercisable for an aggregate period of two (2) weeks after the termination of your Continuous Service. 

NOTIFICATIONS 

Securities Law Notification. Neither the option nor the shares of Common Stock subject to the option are publicly offered or listed on any stock
exchange in Argentina. The offer is private and not subject to the supervision of any Argentine governmental authority. 
 Exchange Control
Notification. Following the sale of shares of Common Stock, the Argentine bank handling the transaction may request certain documentation in connection with the request to transfer proceeds into Argentina (e.g., evidence of the sale,
proof of the source of the funds used to purchase the shares of Common Stock, etc.). You are solely responsible for complying with the exchange control rules that may apply in connection with your participation in the Plan. Prior to transferring
proceeds into Argentina, you are strongly advised to consult your local bank and/or personal legal advisor to confirm the applicable requirements. You should note that the interpretations of the applicable Argentine Central Bank regulations may vary
by bank and that exchange control rules and regulations are subject to change without notice. 
 Foreign Asset / Account Tax Reporting Notification.
You must report any shares of Common Stock acquired under the Plan and held by you on December 31 of each year on your annual tax return for that year. 

  
 2. 

 AUSTRALIA 

NOTIFICATIONS 

Securities Law Information. If you acquire shares of Common Stock under the Plan and offer such shares for sale to a person or entity resident in
Australia, the offer may be subject to disclosure requirements under Australian law. You are advised to obtain legal advice regarding your disclosure obligations prior to making any such offer. 

CANADA 

TERMS AND CONDITIONS 

Method of Payment. The following provision replaces Section 5(b) of this Agreement: 

Notwithstanding any language in your Grant Notice, due to regulatory considerations in Canada, you are prohibited from actually delivering or surrendering
shares of already-owned Common Stock that you already own or attesting to the ownership of shares of Common Stock to pay the exercise price or any Tax-Related Items due in in full upon exercise of all or any
part of your option. 
 Termination of Continuous Service. The following provision supplements Section 8 of this Agreement: 

Your Continuous Service shall be considered terminated for vesting and other purposes as of the earlier of (a) the date that you receive notice of
termination of your engagement as an Employee of the Company or the Employer; or (b) the date that you are no longer actively providing services to the Company or the Employer, regardless of any notice period or period of pay in lieu of such
notice required under applicable employment law; the Board shall have the exclusive discretion to determine when your active provision of services is terminated for purposes of the option (including whether you may still be considered actively
employed while on a leave of absence). 
 The following terms and conditions apply to employees resident in Quebec: 

Language. The parties acknowledge that it is their express wish that this Agreement, as well as all documents, notices and legal proceedings entered
into, given or instituted pursuant hereto or relating directly or indirectly hereto, be drawn up in English. 
 Les parties reconnaissent avoir
expressement souhaité que la convention [“Agreement”], ainsi que tous les documents, avis et procédures judiciaries, éxecutés, donnés ou intentés en vertu de, ou lié, directement ou
indirectement à la présente convention, soient rédigés en langue anglaise. 
 Data Privacy. You hereby authorize the
Company and the Company’s representatives to discuss with and obtain all relevant information from all personnel, professional or not, involved in the administration and operation of the Plan. You further authorize the Company and any
Subsidiary or Affiliate and the Board to disclose and discuss the Plan with their advisors and to record all relevant information and keep such information in your employee file. 

NOTIFICATIONS 

Securities Law Notification. The sale or other disposal of the shares of Common Stock acquired at exercise of the option may not take place within
Canada. You should consult your personal legal advisor prior to selling shares. 
 Foreign Asset / Account Tax Reporting Notification. Canadian
residents are required to report to the tax authorities any foreign property held outside of Canada (including options, shares) on form T1135 (Foreign Income Verification Statement) or other tax report. You should consult your personal legal advisor
to ensure compliance with applicable reporting obligations. 

  
 3. 

 FRANCE 

TERMS AND CONDITIONS 

English Language Consent. By accepting the option, you confirm having read and understood the documents relating to the grant of the option
(the Plan, the Agreement and this Addendum) which were provided to you in the English language, and you accept the terms of these documents accordingly.

Consentement relatif à l’utilisation de la langue anglaise. En acceptant l’option, vous confirmez avoir
lu et compris les documents relatifs à l’attribution de l’option (le Plan, la Convention et la présente Annexe) qui vous ont été communiqués en langue anglaise. Vous en
acceptez les termes et conditions en connaissance de cause. 
 GERMANY 

NOTIFICATIONS 

Exchange Control Information. Cross-border payments in excess of €12,500 must be reported monthly to the German Federal Bank
(Bundesbank). In case of payments in connection with the sale of shares of Common Stock acquired under the Plan or the receipt of any cash dividends, the report must be filed electronically by the fifth day of the month following the month in
which the payment was received. The form of report (“Allgemeine Meldeportal Statistik”) can be accessed via the Bundesbank’s website (www.bundesbank.de) and is available in both German and English. 

HONG KONG 

TERMS AND CONDITIONS 

Sale of Shares. As a condition of the exercise of your option, you agree that, in the event that any portion of your option becomes vested and is
exercisable prior to the six-month anniversary of the Date of Grant, you will not sell any shares of Common Stock acquired upon exercise of your option prior to the
six-month anniversary of the Date of Grant. 
 NOTIFICATIONS

 Securities Law Notice. WARNING: The Option and any shares of Common Stock acquired upon exercise of the Option
do not constitute a public offering of securities under Hong Kong law and are available only to eligible employees of the Company and its Affiliates. The Agreement, including this Addendum, the Plan and any other incidental communication materials
distributed in connection with the Option (i) have not been prepared in accordance with and are not intended to constitute a “prospectus” for a public offering of securities under the applicable securities legislation in
Hong Kong, (ii) have not been reviewed by any regulatory authority in Hong Kong, and (iii) are intended only for the personal use of each eligible employee of the Company and its Affiliates, and may not be
distributed to any other person.  
 If you have any questions regarding the contents of the Agreement, including this Addendum, the Plan or any
other incidental communication materials distributed to you in connection with the Option, you should obtain independent professional advice. 

  
 4. 

 IRELAND 

Director Notification Obligation. If you are a director, shadow director or secretary of the Company’s Irish Affiliate and your
interest in the Company represents more than 1% of the Company’s voting share capital, you must notify the Irish Affiliate in writing of your interest in the Company (e.g., shares of Common Stock acquired under the Plan, etc.) if you
become aware of the event giving rise to the notification requirement, or if you become a director or secretary, if such an interest exists at the time. This notification requirement also applies with respect to the interests of a spouse or child
under the age of 18 (whose interests will be attributed to the director, shadow director or secretary). 
 ISRAEL

 Section 102 Addendum. The option is granted under the Section 102 Addendum to the Plan
(the “Israeli Addendum”), which is considered part of the Plan. The terms used herein shall have the meaning ascribed to them in the Plan or Israeli Addendum. In the event of any conflict, whether explicit or implied, between the provision
of this Option Agreement and the Israeli Addendum, the provisions set out in the Israeli Addendum shall prevail. By accepting this grant, you acknowledge that a copy of the Israeli Addendum has been provided to you. The Israeli Addendum may also be
accessed at the Company stock administrator. 
 Additional Covenants and Undertakings. In addition to any covenants and undertaking set out in
the Option Agreement, you also (i) declare that you are familiar with Section 102 and the regulations and rules promulgated thereunder, including without limitations the provisions of the tax route applicable to the option, and agree to
comply with such provisions, as amended from time to time, provided that if such terms are not met, Section 102 may not apply, and (ii) agree to the terms and conditions of the trust deed and Trust Agreement signed between the Trustee and
the Company and/or the applicable Subsidiary, which is available for your review, during normal working hours, at the Company’s or applicable Subsidiary’s offices, (iii) acknowledge that releasing the option and underlying shares of
Common Stock from the control of the Trustee prior to the termination of the Holding Period constitutes a violation of the terms of Section 102 and agree to bear the relevant sanctions, (iv) authorize the Company and/or the applicable
Subsidiary to provide the Trustee with any information required for the purpose of administering the Plan including executing its obligations under the Tax Ordinance, the trust deed and the Trust Agreement, including without limitation information
about your option, underlying shares of Common Stock, income tax rates, salary bank account, contact details and identification number, (v) declare that you are a resident of the State of Israel for tax purposes on the grant date and agree to
notify the Company upon any change in the residence address indicated herein and acknowledge that if your engagement with the Company or Subsidiary is terminated and you are no longer employed by the Company or any Subsidiary, the option and
underlying shares of Common Stock shall remain subject to Section 102, the Trust Agreement, the Plan, the Israeli Addendum and this Option Agreement; (vi) warrant and undertake that at the time of grant of the option herein, or as a
consequence of the grant, you are not and will not become a holder of a “controlling interest” in the Company, as such term is defined in Section 32(9) of the Tax Ordinance, (vii) the grant of the option is conditioned upon your
signing all documents requested by the Company or the Trustee. 
 Capital Gains Awards. The option is intended to qualify as Capital
Gains Awards , subject to you consenting to the requirements of such tax route by accepting the terms of this Option Agreement and the grant of the option, and subject further to the compliance with all the terms and conditions of such tax route. In
respect of Capital Gains Awards, tax is only due upon sale of the underlying shares of Common Stock or upon release of the underlying shares of Common Stock from the holding or control of the Trustee. 

Trustee Arrangement. The option, the underlying shares of Common Stock issued upon exercise and/or any additional rights, including
without limitation any right to receive any dividends or any shares of Common Stock received as a result of an adjustment made under the Plan that may be granted in connection with the Options (the “Additional Rights”), shall be issued to
or controlled by the Trustee for your benefit under the provisions of Section 102 and will be controlled by the Trustee for at least the 

  
 5. 

 
period stated in Section 102 of the Tax Ordinance and the Income Tax Rules (Tax Benefits in Share Issuance to Employees) 5763-2003 (the “Rules”). In the event the option does not
meet the requirements of Section 102 of the Tax Ordinance, such option and the underlying shares of Common Stock shall not qualify for the favorable tax treatment under Section 102 of the Tax Ordinance. The Company makes no representations
or guarantees that the option will qualify for favorable tax treatment and will not be liable or responsible if favorable tax treatment is not available under Section 102 of the Tax Ordinance. Any fees associated with any vesting, exercise,
sale, transfer or any act in relation to the option shall be borne by you and the Trustee and/or the Company and/or any Subsidiary shall be entitled to withhold or deduct such fees from payments otherwise due to you from the Company or a Subsidiary
or the Trustee. 
 Restrictions on Sale. In accordance with the requirements of Section 102 of the Ordinance and the capital gains
route, you shall not sell or transfer the underlying shares of Common Stock or Additional Rights from the Trustee until the end of the required Holding Period. Notwithstanding the above, if any such sale or transfer occurs before the end of the
required Holding Period, the sanctions under Section 102 shall apply to and shall be borne by you. 
 Tax Treatment. The option is
intended to be taxed in accordance with Section 102, subject to full and complete compliance with the terms of Section 102. Participants with dual residency for tax purposes may be subject to taxation in several jurisdictions. 

Any tax imposed in respect of the option and/or underlying shares of Common Stock, including, but not limited to, the grant of the option, and/or the vesting,
exercise, transfer, waiver, or expiration of option and/or underlying shares of Common Stock, and/or the sale of underlying shares of Common Stock, shall be borne solely by you, and in the event of death, by your heirs. The Company, any Subsidiary,
the Trustee or anyone on their behalf shall not be required to bear the aforementioned tax, directly or indirectly, nor shall they be required to gross up such tax in your salary or remuneration. The applicable tax shall be withheld from the
proceeds of sale of underlying shares of Common Stock or shall be paid to the Company or a Subsidiary or the Trustee by you. Notwithstanding the foregoing, the Company or a Subsidiary or the Trustee shall be entitled to withhold tax as it deems
necessary to comply with applicable law and to deduct any tax from payments otherwise due to you from the Company or a Subsidiary or the Trustee. The ramifications of any future modification of applicable law regarding the taxation of the option
granted to you shall apply to you accordingly and you shall bear the full cost thereof, unless such modified laws expressly provide otherwise. 
 The
issuance of the underlying shares of Common Stock upon the exercise of the option or in respect thereto, shall be subject to the full payments of any tax (if applicable). 

Right of Repurchase. The right of repurchase of Common Stock by the Participant under Section 13 shall be subject to the provisions of the
Israeli Addendum. 
 Securities Law. If required under applicable law, the Company shall use reasonable efforts to receive a securities
exemption from the Israeli Securities Authority to avoid the requirement to file an Israeli securities prospectus in relation to the Plan. 
 Governing
Law. Notwithstanding Section 18 of the Option Agreement, solely for Israeli tax purposes, this Option Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Israel. 

MEXICO 

TERMS AND CONDITIONS 

Policy Statement. The option is a unilateral and discretionary award and, therefore, the Company reserves the absolute right to amend it and discontinue
it at any time without any liability. 

  
 6. 

 The Company, with offices at 395 Page Mill Road, Suite 100, Palo Alto, CA 94306, U.S.A., is solely
responsible for the administration of the Plan, and participation in the Plan and the option does not, in any way, establish an employment relationship between you and the Company since you are participating in the Plan on a wholly commercial basis
and the sole employer is a Mexican Affiliate, nor does it establish any rights between you and the Employer. 
 Plan Document Acknowledgment. By
accepting the option, you acknowledge that you have received copies of the Plan, have reviewed the Plan and the Option Agreement in their entirety, and fully understand and accept all provisions of the Plan and the Option Agreement, including this
Addendum. 
 In addition, you expressly approve that: (i) participation in the Plan does not constitute an acquired right; (ii) the Plan and
participation in the Plan is offered by the Company on a wholly discretionary basis; (iii) participation in the Plan is voluntary; and (iv) the Company, any Affiliate and the Employer are not responsible for any decrease in the value of
the shares of Common Stock acquired upon exercise of the option. 
 Finally, you hereby declare that you do not reserve any action or right to bring any
claim against the Company for any compensation or damages as a result of your participation in the Plan and therefore grant a full and broad release to the Employer, the Company and its Affiliates with respect to any claim that may arise under the
Plan. 
 Spanish Translation 

Declaración de Política. El otorgamiento de la opción de acciones es unilateral y discrecional y, por lo tanto, la
Compañía se reserva el derecho absoluto de modificar y discontinuar el mismo en cualquier momento, sin responsabilidad alguna. 
 La
Compañía, con oficinas registradas ubicadas en 395 Page Mill Road, Suite 100, Palo Alto, CA 94306, EE.UU., es únicamente responsable de la administración del Plan, y el otorgamiento de la opción no establece de
forma alguna una relación de trabajo entre usted y la Compañía, ya que usted está participando en el Plan es sobre una base totalmente comercial, y el único patrón es una Afiliado Mexicana y tampoco
establece ningún derecho entre usted y el Patrón. 
 Reconocimiento del Documento del Plan. Al aceptar el
otorgamiento de la opción, usted reconoce que ha recibido copias del Plan, ha revisado el Plan y el Contrato de Opción en su totalidad , y que entiende y acepta completamente todas las disposiciones contenidas en el Plan y en el
Contrato de Opción, incluyendo este Apéndice. 
 Adicionalmente, usted aprueba que: (i) la participación en el Plan no
constituye un derecho adquirido; (ii) el Plan y la participación en el Plan se ofrecen por la Compañía de forma totalmente discrecional; (iii) la participación en el Plan es voluntaria; y (iv) la
Compañía, cualquier Afiliada y el Patrón no son responsables por ninguna disminución en el valor de las acciones Comunes que se adquieran al ejercer la Opción. 

Finalmente, declara que no se reserva ninguna acción o derecho alguno para interponer una reclamación o demanda en contra de la
Compañía por compensación, daño o perjuicio alguno como resultado de su participación en el Plan y, por lo tanto, otorga el más amplio y total finiquito al Patrón, la Compañía y sus
Afiliadas en relación con cualquier reclamación o demanda que pudiera surgir de conformidad con el Plan. 

  
 7. 

 SINGAPORE 

NOTIFICATIONS  

Securities Law Notice. The grant of the Option is being made pursuant to the “Qualifying Person” exemption” under
section 273(1)(f) of the Securities and Futures Act (Chapter 289, 2006 Ed.) (“SFA”), under which it is exempt from the prospectus and registration requirements and is not made with a view to the underlying shares of Common Stock being
subsequently offered for sale to any other party. The Plan has not been lodged or registered as a prospectus with the Monetary Authority of Singapore. You should note that the Option and the underlying shares of Common Stock are subject to section
257 of the SFA and, as such, that you will not be able to sell or offer to sell any shares of Common Stock directly to another person in Singapore unless such sale or offer is made pursuant to the exemptions under Part XIII Division
(1) Subdivision (4) (other than section 280) of the SFA.
 Chief Executive Officer and Director Notification Obligation. If you are a Chief
Executive Officer (“CEO”) or a director, associate director, or shadow director of a Singapore Subsidiary, you are subject to certain notification requirements under the Singapore Companies Act regardless of whether you are a
Singapore resident or employed in Singapore. Among these requirements is an obligation to notify the Singapore Subsidiary in writing of an interest (e.g., Option, shares) in the Company or any related companies within two business days of
(i) its acquisition or disposal, (ii) any change in a previously disclosed interest, or (iii) becoming a CEO, a director, associate director or shadow director if such an interest exists at that time. 

UNITED KINGDOM 

TERMS AND CONDITIONS 

Section 431 Election. As a condition of participation in the Plan and the exercise of your option, you agree that, jointly with your
Employer, you shall enter into the joint election within Section 431 of the U.K. Income Tax (Earnings and Pensions) Act 2003 (“ITEPA 2003”) in respect of computing any tax charge on the acquisition of “Restricted
Securities” (as defined in Sections 423 and 424 of ITEPA 2003), and that you will not revoke such election at any time. This election will be to treat any shares of Common Stock acquired pursuant to the exercise of your option as if such shares
were not “Restricted Securities” (for U.K. tax purposes only). You must enter into the form of Section 431 Joint Election Form attached to this Addendum as Appendix 1 prior to, or concurrent with, the exercise of your option. 

Joint Election for Transfer of Liability for Employer National Insurance Contributions. As a condition of the exercise of your option, you agree to
accept any liability for secondary Class 1 National Insurance contributions (“NICs”) which may be payable by the Company and/or your Employer in connection with your option and any event giving rise to Tax-Related Items (the “Employer’s Liability”). Without prejudice to the foregoing, you agree to execute the joint election with the Company (the “Joint
Election”), the form of such Joint Election being formally approved by HM Revenue & Customs (“HMRC”), and any other consent or elections required to accomplish the transfer of the Employer’s
Liability to you. In this regard, you agree to execute such other joint elections as may be required between yourself and any successor to the Company and/or the Employer. You further agree that the Company and/or the Employer may collect
the Employer’s Liability by any of the means set forth in Section 10 of the Option Agreement. 
 If you do not complete the Joint Election prior
to exercise of your option, or if approval of the Joint Election is withdrawn by HMRC and a new Joint Election is not entered into, the option shall become null and void and may not be exercised, without any liability to the Company, the Employer or
any Affiliate. 
 Tax-Related Items. The following provision supplements Section 10 of the Option
Agreement (“Tax-Related Items”): 
 If payment or withholding of your income tax liability arising in
connection with your option is not made within ninety (90) days after the end of the year in which the event giving rise to income tax liability occurs or such other period specified in Section 222(1)(c) of ITEPA 2003 (the “Due
Date”), the amount 

  
 8. 

 
of any uncollected income tax will constitute a loan owed by you to the Employer, effective on the Due Date. You agree that the loan will bear interest at the then-current Official Rate of HMRC,
it will be immediately due and repayable, and the Company or your Employer may recover it at any time thereafter by any of the means referred to in Section 10 of the Option Agreement. 

Notwithstanding the foregoing, if you are a director or executive officer of the Company (within the meaning of and subject to Section 13(k) of the
Exchange Act), you will not be eligible for such a loan to cover the income tax due and any income tax obligation not collected by the Due Date may constitute a benefit to you on which additional income tax and NICs will be payable. You will be
responsible for reporting and paying any income tax due on this additional benefit directly to HMRC under the self-assessment regime and for reimbursing the Company or the Employer, as applicable, for the value of any employee NICs due on this
additional benefit, which may be recovered by the Company or the Employer at any time thereafter by any of the means referred to in Section 10 of the Option Agreement. 

In addition, you agree that the Company and/or the Employer may calculate the income tax to be withheld and accounted for by reference to the maximum
applicable rates, without prejudice to any right you may have to recover any overpayment from HMRC. 

  
 9. 

 APPENDIX 1 TO ADDENDUM 

United Kingdom 

Section 431 Joint Election Form 

Joint Election under s431 ITEPA 2003 

for full disapplication of Chapter 2 Income Tax (Earnings and Pensions) Act 2003 

One Part Election 
  

	1.	 Between 

  

			
	the Employee	  	[name of employee]
		
	whose National Insurance Number is	  	[insert employee Nat. Ins. Number]
		
	 and
  

the Company (who is the Employee’s employer)
	  	Medallia Ltd
		
	of Company Registration Number	  	

  

	2.	 Purpose of Election 

This joint election is made pursuant to section 431(1) Income Tax (Earnings and Pensions) Act 2003 (“ITEPA”) and applies where
employment-related securities, which are restricted securities by reason of section 423 ITEPA, are acquired. 
 The effect of an election under section
431(1) is that, for the purposes of income tax and National Insurance contributions (“NICs”), the employment-related securities and their market value will be treated as if they were not restricted securities and that sections 425
to 430 ITEPA do not apply. Additional income tax will be payable as a result of this election (with PAYE withholding and NICs being applicable where the securities are Readily Convertible Assets). 

 

Should the value of the securities fall following the acquisition, it is possible that income tax/NICs that would have
arisen because of any future chargeable event (in the absence of an election) would have been less than the income tax/NICs due by reason of this election. Should this be the case, there is no income tax/NICs relief available under Part 7 of ITEPA
2003; nor is it available if the securities acquired are subsequently transferred, forfeited or revert to the original owner. 

  

	3.	 Application 

This joint election is made not later than 14 days after the date of acquisition of the securities by the employee and applies to: 

 

			
		
	Number of securities	  	[number]
		
	Description of securities	  	Common Stock
		
	Name of issuer of securities	  	Medallia, Inc.

  
 10. 

 To be acquired by the Employee on or after the date of this Election under the terms of the Medallia, Inc.
2008 Equity Incentive Plan. 
  

	4.	 Extent of Application 

This election disapplies S.431(1) ITEPA: All restrictions attaching to the securities. 

 

	5.	 Declaration 

This election will become irrevocable upon the later of its signing or the acquisition (and each subsequent acquisition) of employment-related securities to
which this election applies. 
 In signing this joint election, we agree to be bound by its terms as stated above. 

                          
                                  
                    /    /             

Signature    (Employee)                
                            Date 

                          
                                  
                    /    /             

SIGNATURE (FOR AND ON BEHALF OF THE COMPANY)                DATE 

 

                          
                                   

Position in company 
 Note: Where the election is in respect
of multiple acquisitions, prior to the date of any subsequent acquisition of a security it may be revoked by agreement between the employee and employer in respect of that and any later acquisition. 

  
 11. 

 APPENDIX 2 TO ADDENDUM 

United Kingdom 

National Insurance Contributions Joint Election Form 

Important Note on the Election to Transfer Employer NICs 

If you are or may be liable for National Insurance contributions (“NICs”) in the United Kingdom in connection with your participation in the
Medallia, Inc. 2008 Equity Incentive Plan (the “Plan”), you are required to enter into a Joint Election for the Transfer of Liability for Employer National Insurance Contributions to Employee (the “Election”). The Election acts
to transfer to you any liability for employer’s NICs that may arise in connection with your participation in the Plan. 
 By entering into the
Election: 
  

	 	•	 	 you agree that any employer’s NICs liability that may arise in connection with your participation in the
Plan will be transferred to you; 

  

	 	•	 	 you authorise your employer to recover an amount sufficient to cover this liability by such methods including,
but not limited to, deductions from your salary or other payments due or the sale of sufficient shares acquired pursuant to your awards; and 

  

	 	•	 	 you acknowledge that even if you have clicked on the [“ACCEPT”] box where indicated, the Company or
your employer may still require you to sign a paper copy of this Election (or a substantially similar form) if the Company determines such is necessary to give effect to the Election. 

The Election is attached hereto. Please read the Election carefully. 

  
 12. 

 Joint Election for Transfer of Liability for 

Employer National Insurance Contributions to Employee 

This Election is between: 
  

	A.	 The individual who has obtained authorised access to this Election (the “Employee”),
who is employed by one of the employing companies listed in the attached schedule (the “Employer”) and who is eligible to receive stock options (“Options”) pursuant to the Medallia, Inc. 2008 Equity Incentive Plan
(the “Plan”), and 

  

	B.	 Medallia, Inc., with its registered office at 395 Page Mill Road #100, Palo Alto, California, U.S.A. (the
“Company”), which may grant Options under the Plan and is entering into this Election on behalf of the Employer. 

  

	1.	 INTRODUCTION 

  

	1.1	 This Election relates to all Options granted to the Employee under the Plan on or after [DATE] up to the
termination date of the Plan. 

  

	1.2	 In this Election the following words and phrases have the following meanings: 

 

	 	(a)	 “Chargeable Event” means, in relation to the Options: 

 

	 	(i)	 the acquisition of securities pursuant to the Options (within section 477(3)(a) of ITEPA);

  

	 	(ii)	 the assignment (if applicable) or release of the Options in return for consideration (within section 477(3)(b)
of ITEPA); 

  

	 	(iii)	 the receipt of a benefit in connection with the Options, other than a benefit within (i) or (ii) above
(within section 477(3)(c) of ITEPA); 

  

	 	(iv)	 post-acquisition charges relating to the Options or shares acquired pursuant to the Options (within section 427
of ITEPA); and/or 

  

	 	(v)	 post-acquisition charges relating to the Options or shares acquired pursuant to the Options (within section 439
of ITEPA). 

  

	 	(b)	 “ITEPA” means the Income Tax (Earnings and Pensions) Act 2003. 

 

	 	(c)	 “SSCBA” means the Social Security Contributions and Benefits Act 1992. 

 

	1.3	 This Election relates to the employer’s secondary Class 1 National Insurance Contributions (the
“Employer’s Liability”) which may arise on the occurrence of a Chargeable Event in respect of the Options pursuant to section 4(4)(a) and/or paragraph 3B(1A) of Schedule 1 of the SSCBA. 

 

	1.4	 This Election does not apply in relation to any liability, or any part of any liability, arising as a result of
regulations being given retrospective effect by virtue of section 4B(2) of either the SSCBA, or the Social Security Contributions and Benefits (Northern Ireland) Act 1992. 

  
 13. 

	1.5	 This Election does not apply to the extent that it relates to relevant employment income which is employment
income of the earner by virtue of Chapter 3A of Part VII of ITEPA (employment income: securities with artificially depressed market value). 

  

	2.	 THE ELECTION 

The Employee and the Company jointly elect that the entire liability of the Employer to pay the Employer’s Liability on the Chargeable
Event is hereby transferred to the Employee. The Employee understands that, by signing or electronically accepting this Election, he or she will become personally liable for the Employer’s Liability covered by this Election. This Election is
made in accordance with paragraph 3B(1) of Schedule 1 of the SSCBA. 
  

	3.	 PAYMENT OF THE EMPLOYER’S LIABILITY 

 

	3.1	 The Employee hereby authorises the Company and/or the Employer to collect the Employer’s Liability from
the Employee at any time after the Chargeable Event: 

  

	 	(i)	 by deduction from salary or any other payment payable to the Employee at any time on or after the date of the
Chargeable Event; and/or 

  

	 	(ii)	 directly from the Employee by payment in cash or cleared funds; and/or 

 

	 	(iii)	 by arranging, on behalf of the Employee, for the sale of some of the securities which the Employee is entitled
to receive in respect of the Options; and/or 

  

	 	(iv)	 by any other means specified in the applicable Option Agreement. 

 

	3.2	 The Company hereby reserves for itself and the Employer the right to withhold the transfer of any securities to
the Employee in respect of the Options until full payment of the Employer’s Liability is received. 

  

	3.3	 The Company agrees to procure the remittance by the Employer of the Employer’s Liability to HM
Revenue & Customs on behalf of the Employee within 14 days after the end of the UK tax month during which the Chargeable Event occurs (or within 17 days after the end of the UK tax month during which the Chargeable Event occurs, if payments
are made electronically). 

  

	4.	 DURATION OF ELECTION 

 

	4.1	 The Employee and the Company agree to be bound by the terms of this Election regardless of whether the Employee
is transferred abroad or is not employed by the Employer on the date on which the Employer’s Liability becomes due. 

  

	4.2	 Any reference to the Company and/or the Employer shall include that entity’s successors in title and
assigns as permitted in accordance with the terms of the Plan and relevant award agreement. This Election will continue in effect in respect of any awards which replace the Options in circumstances where section 483 of ITEPA applies.

  
 14. 

	4.3	 This Election will continue in effect until the earliest of the following: 

 

	 	(i)	 the Employee and the Company agree in writing that it should cease to have effect; 

 

	 	(ii)	 on the date the Company serves written notice on the Employee terminating its effect; 

 

	 	(iii)	 on the date HM Revenue & Customs withdraws approval of this Election; or 

 

	 	(iv)	 after due payment of the Employer’s Liability in respect of the entirety of the Options to which this
Election relates or could relate, such that the Election ceases to have effect in accordance with its terms. 

  

	4.4	 This Election will continue in force regardless of whether the Employee ceases to be an employee of the
Employer. 

 Acceptance by the Employee 

[The Employee acknowledges that, by signing this Election, the Employee agrees to be bound by the terms of this Election. 

 

			
		
	Name	  	  

		
	Signature	  	  

		
	Date	  	________________________________________________________________]

 Or 

[The Employee acknowledges that, by clicking on the [“ACCEPT”] box, the Employee agrees to be bound by the terms of this
Election.] 
 Acceptance by the Company 

The Company acknowledges that, by signing this Election or arranging for the scanned signature of an authorised representative to appear on
this Election, the Company agrees to be bound by the terms of this Election. 
  

			
		
	Signature for and on behalf of the Company	  	  

		
	Position	  	  

		
	Date	  	  

  
 15. 

 SCHEDULE OF EMPLOYER COMPANIES 

The following are employer companies to which this Election may apply: 

Medallia Ltd. 
  

			
	Registered Office:	  	 90 High Holborn
 London, WC1V 6XX

	Company Registration Number:	  	
		
	Corporation Tax District:	  	
		
	Corporation Tax Reference:	  	
		
	PAYE Reference:	  	

  
 16. 

 MEDALLIA, INC. 

2008 EQUITY INCENTIVE PLAN 

STOCK OPTION GRANT NOTICE FOR U.S. OPTIONHOLDERS
(“GRANT NOTICE”) 
 Medallia, Inc., (the “Company”),
pursuant to its 2008 Equity Incentive Plan, as amended from time to time (the “Plan”), hereby grants to the Option holder listed below, an option to purchase the number of shares of the Company’s Class A Common Stock, par
value $0.001 (“Stock”), set forth below (the “Option”). This Option is subject to all of the terms and conditions set forth herein, as well as in the Plan, and the 2008 Equity Incentive Option Agreement attached
hereto (the “Stock Option Agreement”), and the Notice of Exercise, each of which are incorporated herein by reference. Unless otherwise defined herein, the terms defined in the Plan and the Stock Option Agreement shall have the same
defined meanings in this Grant Notice. 
  

					
	Option holder’s ID #:	 	    	  	  

			
	Option holder’s Name:	 		  	  

			
	Option holder’s Address:	 		  	  

			
		 		  	  

		 		  	  

		 		  	  

		 		  	  

			
	Grant Date:	 		  	  

			
	Grant Number:	 		  	  

			
	Vesting Commencement Date:	 		  	  

			
	Total Number of Shares Subject to the Option:	 		  	  

			
	Exercise Price per Share:	 		  	  

			
	Total Exercise Price:	 		  	  

			
	Type of Option: 1	 		  	  

			
	Exercise Schedule:	 	☐	  	  

			
	Expiration Date:	 		  	  

					
		
	Vesting Schedule:	 	     Shares
                            Vest Type           
                    Full Vest

	 	                                   
                                        
                                 

  

	1 	 If this is an Incentive Stock Option, it (plus other outstanding Incentive Stock Options) cannot be first
exercisable for more than $100,000 in value (measured by exercise price) in any calendar year. Any excess over $100,000 is a Non-statutory Stock Option 

  
 1. 

	Payment:    By	 one or a combination of the following items (described in the Option Agreement): 

 

	 	☒	 By cash or check, bank draft or money order payable to the Company 

 

	 	☒	 Pursuant to a Regulation T Program, if the Common Stock is publicly traded 

 

	 	☒	 By delivery of already-owned shares, if the Common Stock is publicly traded (applicable only for U.S.
residents) 

  

	 	☒	 If and only to the extent this option is a Non-Statutory Stock Option,
and subject to the Company’s consent at the time of exercise, by a “net exercise” arrangement 

 By
clicking the Acceptance button, Optionholder acknowledges receipt of, and understands and agrees to, the terms and conditions of the Plan, the Stock Option Agreement, Notice of Exercise, and this Grant Notice. Optionholder has reviewed these
documents in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Grant Notice and fully understands all provisions of this Grant Notice, the Plan, the Stock Option Agreement, and Notice of Exercise. 

The Optionholder further acknowledges that as of the Date of Grant, this Grant Notice, the Stock Option Agreement, and the Plan set forth the entire
understanding between the Option holder and the Company regarding the acquisition of the stock in the Company and supersede all prior oral and written agreements on that subject with the exception of options previously granted and delivered to
Optionholder under the Plan. By accepting this option, you consent to receive such documents by electronic delivery and to participate in the Plan through an on-line or electronic system established and
maintained by the Company or another third party designated by the Company. 
  

			
	 MEDALLIA, INC.
  

By:
  

Signature
  

Title:                         
                                         
              
  

Date:
	  	 OPTIONHOLDER:
  

 
 Signature

 
 Date:
                                         
                                         
      
  

 ATTACHMENTS:    Stock Option Agreement 

                          
      2008 Equity Incentive Plan 

                          
      Notice of Exercise 

  
 2. 

 MEDALLIA, INC. 

2008 EQUITY INCENTIVE PLAN 

STOCK OPTION GRANT NOTICE FOR NON-U.S. OPTIONHOLDERS (“GRANT NOTICE”) 

Medallia, Inc., (the “Company”), pursuant to its 2008 Equity Incentive Plan, as amended from time to time (the
“Plan”), hereby grants to the Option holder listed below, an option to purchase the number of shares of the Company’s Class A Common Stock, par value $0.001 (“Stock”), set forth below (the
“Option”). This Option is subject to all of the terms and conditions set forth herein, as well as in the Plan, the Option Agreement for Non-U.S. Optionholders attached hereto (the
“Option Agreement”), the Addendum attached to the Option Agreement (the “Addendum”), and the Notice of Exercise, each of which are incorporated herein by reference. Unless otherwise defined herein, the terms defined
in the Plan and the Stock Option Agreement shall have the same defined meanings in this Grant Notice. 
  

					
	Option holder’s ID #:	  	                                      
                      	  	
			
	Option holder’s Name:	  	                                      
                      	  	
			
	Option holder’s Address:	  	                                      
                      	  	
			
	Grant Date:	  	                                      
                      	  	
			
	Grant Number:	  	                                      
                      	  	
			
	Vesting Commencement Date:	  	                                      
                      	  	
			
	Total Number of Shares Subject to the Option:	  	                                      
                      	  	
			
	Exercise Price per Share:	  	                                      
                      	  	
			
	Total Exercise Price:	  	                                      
                      	  	
			
	Type of Option:	  	                                      
                      	  	
			
	Exercise Schedule:	  	☐
                                         
              	  	
			
	Expiration Date:	  	                                      
                      	  	

					
		
	Vesting Schedule:	  	          Shares                        
         Vest
Type                                         Full
Vest        
		
		  	                            
                                        
                                         
   

 Payment:               By one or a combination of
the following items (described in the Option Agreement): 
 ☒ By cash or check, bank draft or money order payable to the Company 

  
 1. 

					
	 MEDALLIA, INC.
  

By:
  

Signature
  

Title:
                                         
                       
  

Date:
	  	
                        

 
	  	 OPTIONHOLDER:
  

                          
                                         
                     

Signature
  

 

Date:                         
                                         
              

 ☒ Pursuant to a Regulation T Program if the shares of Common Stock are publicly traded 

By clicking the Acceptance button, Optionholder acknowledges receipt of, and understands and agrees to, the terms and conditions of the Plan,
the Option Agreement, the Addendum to the Option Agreement, Notice of Exercise and this Grant Notice. Optionholder has reviewed these documents in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Grant
Notice and fully understands all provisions of this Grant Notice, the Plan, the Option Agreement, the Addendum to the Option Agreement, and Notice of Exercise. 

The Optionholder further acknowledges that as of the Date of Grant, this Grant Notice, the Option Agreement, the Addendum to the Option
Agreement, and the Plan set forth the entire understanding between Optionholder and the Company regarding the acquisition of stock in the Company and supersede all prior oral and written agreements on that subject with the exception of options
previously granted and delivered to Optionholder under the Plan. By accepting this option, you consent to receive such documents by electronic delivery and to participate in the Plan through an on-line or
electronic system established and maintained by the Company or another third party designated by the Company. 

ATTACHMENTS:    Option Agreement for Non-US Optionholders

 Addendum to the Option Agreement 

2008 Equity Incentive Plan 

Notice of Exercise 

  
 2. 

 MEDALLIA, INC. 

2008 EQUITY INCENTIVE PLAN 

STOCK OPTION GRANT NOTICE FOR NON-U.S. OPTIONHOLDERS (“GRANT NOTICE”) 

Medallia, Inc., (the “Company”), pursuant to its 2008 Equity Incentive Plan, as amended from time to time (the
“Plan”), hereby grants to the Option holder listed below, an option to purchase the number of shares of the Company’s Class A Common Stock, par value $0.001 (“Stock”), set forth below (the
“Option”). This Option is subject to all of the terms and conditions set forth herein, as well as in the Plan, the Option Agreement for Non-U.S. Optionholders attached hereto (the
“Option Agreement”), the Addendum attached to the Option Agreement (the “Addendum”), and the Notice of Exercise, each of which are incorporated herein by reference. Unless otherwise defined herein, the terms defined
in the Plan and the Stock Option Agreement shall have the same defined meanings in this Grant Notice. 
  

					
	Option holder’s ID #:	  	                                      
                      	  	
			
	Option holder’s Name:	  	                                      
                      	  	
			
	Option holder’s Address:	  	                                      
                      	  	
		  	                                      
                      	  	
		  	                                      
                      	  	
		  	                                      
                      	  	
		  	                                      
                      	  	
			
	Grant Date:	  	                                      
                      	  	
			
	Grant Number:	  	                                      
                      	  	
			
	Vesting Commencement Date:	  	                                      
                      	  	
			
	Total Number of Shares Subject to the Option:	  	                                      
                      	  	
			
	Exercise Price per Share:	  	                                      
                      	  	
			
	Total Exercise Price:	  	                                      
                      	  	
			
	Type of Option:	  	Section 102 – Capital Gains Route	  	
			
	Exercise Schedule:	  	☐
                                         
              	  	
			
	Expiration Date:	  	                                      
                      	  	

  

			
		
	Vesting Schedule:	  	          Shares                          
       Vest Type                         Full
Vest        
		
		  	                            
                                        
                                         
   

 Payment:                 By one or a
combination of the following items (described in the Option Agreement): 

  
 1. 

					
			
	 MEDALLIA, INC.
  

By:
  

Signature
  

Title:
                                         
                       
  

Date:
	  	
                        

 
	  	 OPTIONHOLDER:
  

                          
                                         
                     

Signature
  

 

Date:                         
                                         
              

 ☒ By cash or check, bank draft or money order payable to the Copmany 

☒ Pursuant to a Regulation T Program if the shares of Common Stock are publicly traded 

By clicking the Acceptance button, Optionholder acknowledges receipt of, and understands and agrees to, the terms and conditions of the Plan,
the Option Agreement, the Addendum to the Option Agreement, Notice of Exercise and this Grant Notice. Optionholder has reviewed these documents in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Grant
Notice and fully understands all provisions of this Grant Notice, the Plan, the Option Agreement, the Addendum to the Option Agreement, and Notice of Exercise. 

The Optionholder further acknowledges that as of the Date of Grant, this Grant Notice, the Option Agreement, the Addendum to the Option
Agreement, and the Plan set forth the entire understanding between Optionholder and the Company regarding the acquisition of stock in the Company and supersede all prior oral and written agreements on that subject with the exception of options
previously granted and delivered to Optionholder under the Plan. By accepting this option, you consent to receive such documents by electronic delivery and to participate in the Plan through an on-line or
electronic system established and maintained by the Company or another third party designated by the Company. 

ATTACHMENTS:    Option Agreement for Non-US Optionholders

 Addendum to the Option Agreement 

2008 Equity Incentive Plan 

Notice of Exercise 

  
 2. 

 MEDALLIA, INC. 

NOTICE OF EXERCISE 

(2008 EQUITY INCENTIVE PLAN) 
 Full name:
(please print)
                                         
                                         
                                         
                                  

Date of Exercise:
                                         
                    
 Ladies and Gentlemen: 

This constitutes notice under my stock option that I elect to purchase the number of shares for the price set forth below. 

 

			
	 Type of option (check one):
	  	☐ Incentive Stock Option (ISO)
		
		  	☐ Nonstatutory Stock Option (NQ)
		
	 Stock option grant date:
	  	                            
		
	 Stock option grant number:
	  	                            
		  	
		
	 # Shares to be purchased on option exercise (total):
	  	                            
		
	 To be filled out by Company:
	  	# Vested                 #
Unvested                
		
	 Shares to be issued to (your full legal name):
	  	                                      
                              
		
	 Exercise Price (per share):
	  	$                            
		
	 Cash payment delivered (shares to be exercised multiplied by Exercise Price per share, plus any tax
withholding amount due):
	  	$                            
		
	 Value of     N/A     shares of Medallia, Inc. common stock
delivered herewith1:
	  	$                     N/A

 By this exercise, I agree (i) to provide such additional documents as you may require pursuant to the
terms of the 2008 Equity Incentive Plan, (ii) to provide for the payment by me to you (in the manner designated by you) of your withholding obligation, if any, relating to the exercise of this option, and (iii) if this exercise relates to
an incentive stock option, to notify you in writing within fifteen (15) days after the date of any disposition of any of the shares of Common Stock issued upon exercise of this option that occurs within two (2) years after the date of
grant of this option or within one (1) year after such shares of Common Stock are issued upon exercise of this option. 
  

	1 	 Shares must meet the public trading requirements set forth in the option. Shares must be valued in accordance
with the terms of the option being exercised, and must be owned free and clear of any liens, claims, encumbrances or security interests. Certificates must be endorsed or accompanied by an executed assignment separate from certificate.

  
 1. 

 I hereby make the following certifications and representations with respect to the number of
shares of Common Stock of the Company listed above (the “Shares”), which are being acquired by me for my own account upon exercise of the Option as set forth above: 

I acknowledge that the Shares have not been registered under the Securities Act of 1933, as amended (the “Securities
Act”), and are deemed to constitute “restricted securities” under Rule 701 and Rule 144 promulgated under the Securities Act. I warrant and represent to the Company that I have no present intention of distributing or selling
said Shares, except as permitted under the Securities Act and any applicable state securities laws. 
 I further acknowledge that I will not
be able to resell the Shares for at least ninety days (90) after the stock of the Company becomes publicly traded (i.e., subject to the reporting requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934) under Rule
701 and that more restrictive conditions apply to affiliates of the Company under Rule 144. 
 I further acknowledge that all certificates
representing any of the Shares subject to the provisions of the Option shall have endorsed thereon appropriate legends reflecting the foregoing limitations, as well as any legends reflecting restrictions pursuant to the Company’s Articles of
Incorporation, Bylaws and/or applicable securities laws. 
 I further agree that, if required by the Company (or a representative of the
underwriters) in connection with the first underwritten registration of the offering of any securities of the Company under the Securities Act, I will not sell, dispose of, transfer, make any short sale of, grant any option for the purchase of, or
enter into any hedging or similar transaction with the same economic effect as a sale, any shares of Common Stock or other securities of the Company for a period of one hundred eighty (180) days following the effective date of a registration
statement of the Company filed under the Securities Act or such longer period as necessary to permit compliance with FINRA Rule 2711 or NYSE Member Rule 472 and similar rules and regulations (the
“Lock-Up Period”). I further agree to execute and deliver such other agreements as may be reasonably requested by the Company and/or the underwriter(s) that are consistent with the
foregoing or that are necessary to give further effect thereto. In order to enforce the foregoing covenant, the Company may impose stop-transfer instructions with respect to securities subject to the foregoing restrictions until the end of such
period. 
 I acknowledge that I have been provided the opportunity to review materials that the Company has made available in accordance
with Rule 701. 
  

	
	Very truly yours,
	
	  

	
	(your signature)
	
	Address:
	
	  

	
	  

 Please send this completed, signed Notice via email or mail to
                    
at:                    , or mail to Medallia, Inc., 450 Concar Drive, San Mateo, CA 94402.     

  
 2. 

 MEDALLIA, INC. 

NOTICE OF EXERCISE 

(2008 EQUITY INCENTIVE PLAN) 
 Full name
(please print):
                                         
                                         
                                         
                                         
     
 Date of Exercise:
                                         
        
 Ladies and Gentlemen: 

This constitutes notice under my stock option that I elect to purchase the number of shares for the price set forth below. 

 

			
	 Type of option:
	  	Nonstatutory Stock Option (NQ)
		
	 Stock option grant date:
	  	                                    

		
	 Stock option grant number:
	  	                        
		
	 # Shares to be purchased on option exercise (total):
	  	
		
	
                      
          
	  	# Vested                 #
Unvested                
		
	 To be filled out by Company:
	  	
		
		  	Shares to be issued to (full name):
		
	
                      
                                         
                                 
	  	
		
	 Exercise price (per share):
	  	$                            
		
	 Cash payment delivered (shares to be exercised multiplied by Exercise Price per shares, plus any tax
withholding amount due):
	  	$                            
		
	 Value of N/A shares of Medallia, Inc. common stock delivered herewith1:
	  	$                 N/A

 By this exercise, I agree (i) to provide such additional documents as you may require pursuant to the
terms of the 2008 Equity Incentive Plan, (ii) to provide for the payment by me to you (in the manner designated by you) of your withholding obligation, if any, relating to the exercise of this option, and (iii) if this exercise relates to
an incentive stock option, to notify you in writing within fifteen (15) days after the date of any disposition of any of the shares of Common Stock issued upon exercise of this option that occurs within two (2) years after the date of
grant of this option or within one (1) year after such shares of Common Stock are issued upon exercise of this option.
                 
  

	1 	 Shares must meet the public trading requirements set forth in the option. Shares must be valued in accordance
with the terms of the option being exercised, and must be owned free and clear of any liens, claims, encumbrances or security interests. Certificates must be endorsed or accompanied by an executed assignment separate from certificate.

  
 1. 

 I hereby make the following certifications and representations with respect to the number of
shares of Common Stock of the Company listed above (the “Shares”), which are being acquired by me for my own account upon exercise of the Option as set forth above: 

I acknowledge that the Shares have not been registered under the Securities Act of 1933, as amended (the “Securities
Act”), and are deemed to constitute “restricted securities” under Rule 701 and Rule 144 promulgated under the Securities Act. I warrant and represent to the Company that I have no present intention of distributing or selling
said Shares, except as permitted under the Securities Act and any applicable state securities laws. 
 I further acknowledge that I will not
be able to resell the Shares for at least ninety days (90) after the stock of the Company becomes publicly traded (i.e., subject to the reporting requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934) under Rule
701 and that more restrictive conditions apply to affiliates of the Company under Rule 144. 
 I further acknowledge that all certificates
representing any of the Shares subject to the provisions of the Option shall have endorsed thereon appropriate legends reflecting the foregoing limitations, as well as any legends reflecting restrictions pursuant to the Company’s Articles of
Incorporation, Bylaws and/or applicable securities laws. 
 I further agree that, if required by the Company (or a representative of the
underwriters) in connection with the first underwritten registration of the offering of any securities of the Company under the Securities Act, I will not sell, dispose of, transfer, make any short sale of, grant any option for the purchase of, or
enter into any hedging or similar transaction with the same economic effect as a sale, any shares of Common Stock or other securities of the Company for a period of one hundred eighty (180) days following the effective date of a registration
statement of the Company filed under the Securities Act or such longer period as necessary to permit compliance with FINRA Rule 2711 or NYSE Member Rule 472 and similar rules and regulations (the
“Lock-Up Period”). I further agree to execute and deliver such other agreements as may be reasonably requested by the Company and/or the underwriter(s) that are consistent with the
foregoing or that are necessary to give further effect thereto. In order to enforce the foregoing covenant, the Company may impose stop-transfer instructions with respect to securities subject to the foregoing restrictions until the end of such
period. 
 I acknowledge that I have been provided the opportunity to review materials that the Company has made available in accordance
with Rule 701. 
  

	
	Very truly yours,
	
	  

	(your signature)
	
	Address:
	
	  

	
	  

 Please send this completed, signed Notice via email or mail to
                     at:
                    , or mail to Medallia, Inc. 450 Concar Drive, San Mateo, CA 94402. 

  
 2. 

 MEDALLIA, INC. 

NOTICE OF EXERCISE 

(2008 EQUITY INCENTIVE PLAN) 
 Full name:
(please print)
                                         
                                         
                                         
                                      

Date of Exercise:
                                         
                
 Ladies and Gentlemen: 

This constitutes notice under my stock option that I elect to purchase the number of shares for the price set forth below. 

 

			
	 Type of option:
	  	Section 102 – Capital Gains Route (Israel only)
		
	 Stock option grant date:
	  	                            
		
	 Stock option grant number:
	  	                            
		
	 # Shares to be purchased on option exercise (total):
	  	                            
		
	 To be filled out by Company: 
	  	# Vested                 #
Unvested                    
		
	 Shares to be issued to (full name)1:
	  	                                      
          
		
	 Exercise price (per share):
  

Cash payment delivered (shares to be exercised multiplied by Exercise Price per share, plus any tax withholding amount
due):
	  	 $
                            

 
 $
                            

		
	 Value of     N/A     shares of Medallia, Inc. common stock
delivered herewith2:
	  	$                     N/A

 By this exercise, I agree (i) to provide such additional documents as you may require pursuant to the
terms of the 2008 Equity Incentive Plan, (ii) to provide for the payment by me to you (in the manner designated by you) of your withholding obligation, if any, relating to the exercise of this option, and (iii) if this exercise relates to
an incentive stock option, to notify you in writing within fifteen (15) days after the date of any disposition of any of the shares of Common Stock issued upon exercise of this option that occurs within two (2) years after the date of
grant of this option or within one (1) year after such shares of Common Stock are issued upon exercise of this option. 
  

	1	 For Shares underlying a Section 102 – Capital Gains Route Option, the Shares shall be issued in the
name of the Trustee for the benefit of the optionee. 

	2	 Shares must meet the public trading requirements set forth in the option. Shares must be valued in accordance
with the terms of the option being exercised, and must be owned free and clear of any liens, claims, encumbrances or security interests. Certificates must be endorsed or accompanied by an executed assignment separate from certificate.

  
 1. 

 I hereby make the following certifications and representations with respect to the number of
shares of Common Stock of the Company listed above (the “Shares”), which are being acquired by me for my own account upon exercise of the Option as set forth above: 

I acknowledge that the Shares have not been registered under the Securities Act of 1933, as amended (the “Securities
Act”), and are deemed to constitute “restricted securities” under Rule 701 and Rule 144 promulgated under the Securities Act. I warrant and represent to the Company that I have no present intention of distributing or selling
said Shares, except as permitted under the Securities Act and any applicable state securities laws. 
 I further acknowledge that I will not
be able to resell the Shares for at least ninety days (90) after the stock of the Company becomes publicly traded (i.e., subject to the reporting requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934) under Rule
701 and that more restrictive conditions apply to affiliates of the Company under Rule 144. 
 I further acknowledge that all certificates
representing any of the Shares subject to the provisions of the Option shall have endorsed thereon appropriate legends reflecting the foregoing limitations, as well as any legends reflecting restrictions pursuant to the Company’s Articles of
Incorporation, Bylaws and/or applicable securities laws. 
 I further agree that, if required by the Company (or a representative of the
underwriters) in connection with the first underwritten registration of the offering of any securities of the Company under the Securities Act, I will not sell, dispose of, transfer, make any short sale of, grant any option for the purchase of, or
enter into any hedging or similar transaction with the same economic effect as a sale, any shares of Common Stock or other securities of the Company for a period of one hundred eighty (180) days following the effective date of a registration
statement of the Company filed under the Securities Act or such longer period as necessary to permit compliance with FINRA Rule 2711 or NYSE Member Rule 472 and similar rules and regulations (the
“Lock-Up Period”). I further agree to execute and deliver such other agreements as may be reasonably requested by the Company and/or the underwriter(s) that are consistent with the
foregoing or that are necessary to give further effect thereto. In order to enforce the foregoing covenant, the Company may impose stop-transfer instructions with respect to securities subject to the foregoing restrictions until the end of such
period. 
 If this exercise relates to a Section 102 – Capital Gains Route Option, I acknowledge that I have received, read and
understood the Plan, the Agreement and Section 102 of the Ordinance, and agree to abide by and be bound by their terms, benefits and restrictions, as applicable. I further acknowledge that upon the exercise of the Option, the Shares shall be
issued to the Trustee for my benefit, and the Trustee will transfer the Shares to me upon my demand subject to all applicable tax laws and any other restrictions specified in the Plan and under applicable laws. 

I acknowledge that I have been provided the opportunity to review materials that the Company has made available in accordance with Rule 701.

  

	
	Very truly yours,
	
	  

	
	Address:
	
	  

	
	  

 Please send this completed, signed Notice via email or mail to
                     at:
                    , or mail to Medallia, Inc., 450 Concar Drive, San Mateo, CA 94402 United States. 

  
 2.

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