Document:

Stock Purchase Agreement - 5/23/02 - Kennelly

 Exhibit 10.25 
 STOCK PURCHASE AGREEMENT 
 THIS
STOCK PURCHASE AGREEMENT is entered into as of May 23, 2002 by NBT TECHNOLOGY, INC., a Delaware corporation (the “Company”), and
KENNELLY PARTNERS, L.P. (the “Purchaser”). 
 SECTION 1. ACQUISITION OF SHARES. 
 (a) Transfer. On the terms and conditions set forth in this Agreement, the Company agrees to sell to the Purchaser, and Purchaser agrees to
purchase, 5,000,000 Shares. The sale and purchase shall occur at the offices of the Company on the date set forth above or at such other place and time as the parties may agree. 
 (b) Consideration. The Purchaser agrees to pay $0.001 for each Purchased Share. The total Purchase Price is agreed to be at least 100% of the Fair
Market Value of the Purchased Shares. Payment shall be made on the transfer date in cash or cash equivalents. 
 (c) Fully Vested. All
Purchased Shares shall be fully vested. 
 (d) Defined Terms. Capitalized terms not defined above are defined in Section 9 of
this Agreement. 
 SECTION 2. RIGHT OF FIRST REFUSAL. 
 (a) Right of First Refusal. In the event that the Purchaser proposes to sell, pledge or otherwise transfer to a third party any Purchased Shares, or any interest in Purchased Shares, the Company shall have the
Right of First Refusal with respect to all (and not less than all) of such Purchased Shares. If the Purchaser desires to transfer Purchased Shares, the Purchaser shall give a written Transfer Notice to the Company describing fully the proposed
transfer, including the number of Purchased Shares proposed to be transferred, the proposed transfer price, the name and address of the proposed Transferee and proof satisfactory to the Company that the proposed sale or transfer will not violate any
applicable federal or state securities laws. The Transfer Notice shall be signed both by the Purchaser and by the proposed Transferee and must constitute a binding commitment of both parties to the transfer of the Purchased Shares. The Company shall
have the right to purchase all, and not less than all, of the Purchased Shares on the terms of the proposal described in the Transfer Notice (subject, however, to any change in such terms permitted under Subsection (b) below) by delivery of a
notice of exercise of the Right of First Refusal within 30 days after the date when the Transfer Notice was received by the Company. 
 (b)
Transfer of Shares. If the Company fails to exercise its Right of First Refusal within 30 days after receiving the Transfer Notice, the Purchaser may, not later than 90 days after the Company received the Transfer Notice, conclude a
transfer of the Purchased Shares subject to the Transfer 

 
Notice on the terms and conditions described in the Transfer Notice, provided that any such sale is made in compliance with applicable federal and state
securities laws and not in violation of any other contractual restrictions to which the Purchaser is bound. Any proposed transfer on terms and conditions different from those described in the Transfer Notice, as well as any subsequent proposed
transfer by the Purchaser, shall again be subject to the Right of First Refusal and shall require compliance with the procedure described in Subsection (a) above. If the Company exercises its Right of First Refusal, the parties shall consummate
the sale of the Purchased Shares on the terms set forth in the Transfer Notice within 60 days after the Company received the Transfer Notice (or within such longer period as may have been specified in the Transfer Notice); provided, however,
that in the event the Transfer Notice provided that payment for the Purchased Shares was to be made in a form other than cash or cash equivalents paid at the time of transfer, the Company shall have the option of paying for the Purchased Shares with
cash or cash equivalents equal to the present value of the consideration described in the Transfer Notice. 
 (c) Additional or Exchanged
Securities and Property. In the event of a merger or consolidation of the Company with or into another entity, any other corporate reorganization, a stock split, the declaration of a stock dividend, the declaration of an extraordinary dividend
payable in a form other than stock, a spin-off, an adjustment in conversion ratio, a recapitalization or a similar transaction affecting the Company’s outstanding securities, any securities or other property (including cash or cash equivalents)
that are by reason of such transaction exchanged for, or distributed with respect to, any Purchased Shares subject to this Section 2 shall immediately be subject to the Right of First Refusal. Appropriate adjustments to reflect the exchange or
distribution of such securities or property shall be made to the number and/or class of the Purchased Shares subject to this Section 2. 
 (d) Termination of Right of First Refusal. Any other provision of this Section 2 notwithstanding, in the event that the Stock is readily tradable on an established securities market when the Purchaser desires to transfer
Purchased Shares, the Company shall have no Right of First Refusal, and the Purchaser shall have no obligation to comply with the procedures prescribed by Subsections (a) and (b) above. 
 (e) Permitted Transfers. This Section 2 shall not apply to (i) a transfer by beneficiary designation, will or intestate succession or
(ii) a transfer to one or more members of the Purchaser’s Immediate Family or to a trust established by the Purchaser for the benefit of the Purchaser and/or one or more members of the Purchaser’s Immediate Family, provided in either
case that the Transferee agrees in writing on a form prescribed by the Company to be bound by all provisions of this Agreement. In addition, this Section 2 shall not apply to the Purchaser’s transfer of up to an aggregate five percent
(5%) of the Purchased Shares. If the Purchaser transfers any Purchased Shares, either under this Subsection (e) or after the Company has failed to exercise the Right of First Refusal, then this Agreement shall apply to the Transferee to
the same extent as to the Purchaser. 
 (f) Termination of Rights as Stockholder. If the Company makes available, at the time and
place and in the amount and form provided in this Agreement, the consideration for the Shares to be purchased in accordance with this Section 2, then after such time the person from whom such Shares are to be purchased shall no longer have any
rights as a holder of such Shares (other than the right to receive payment of such consideration in accordance with this 

  

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Agreement). Such Shares shall be deemed to have been purchased in accordance with the applicable provisions hereof, whether or not the certificate(s)
therefor have been delivered as required by this Agreement. 
 (g) Assignment of Right of First Refusal. The Board of Directors may
freely assign the Company’s Right of First Refusal, in whole or in part. Any person who accepts an assignment of the Right of First Refusal from the Company shall assume all of the Company’s rights and obligations under this
Section 2. 
 SECTION 3. OTHER RESTRICTIONS ON TRANSFER. 
 (a) Purchaser Representations. In connection with the issuance and acquisition of Shares under this Agreement, the Purchaser hereby represents and warrants to the Company as follows: 
 (i) The Purchaser is acquiring and will hold the Purchased Shares for investment for his or her account only and not with a view to, or
for resale in connection with, any “distribution” thereof within the meaning of the Securities Act. 
 (ii) The
Purchaser understands that the Purchased Shares have not been registered under the Securities Act by reason of a specific exemption therefrom and that the Purchased Shares must be held indefinitely, unless they are subsequently registered under the
Securities Act or the Purchaser obtains an opinion of counsel, in form and substance satisfactory to the Company and its counsel, that such registration is not required. The Purchaser further acknowledges and understands that the Company is under no
obligation to register the Purchased Shares. 
 (iii) The Purchaser is aware of the adoption of Rule 144 by the
Securities and Exchange Commission under the Securities Act, which permits limited public resales of securities acquired in a non-public offering, subject to the satisfaction of certain conditions, including (without limitation) the availability of
certain current public information about the issuer, the resale occurring only after the holding period required by Rule 144 has been satisfied, the sale occurring through an unsolicited “broker’s transaction,” and the amount of
securities being sold during any three-month period not exceeding specified limitations. The Purchaser acknowledges and understands that the conditions for resale set forth in Rule 144 have not been satisfied and that the Company has no plans
to satisfy these conditions in the foreseeable future. 
 (iv) The Purchaser will not sell, transfer or otherwise dispose of
the Purchased Shares in violation of the Securities Act, the Securities Exchange Act of 1934, or the rules promulgated thereunder, including Rule 144 under the Securities Act. The Purchaser agrees that he or she will not dispose of the
Purchased Shares unless and until he or she has complied with all requirements of this Agreement applicable to the disposition of Purchased Shares and he or she 

  

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has provided the Company with written assurances, in substance and form satisfactory to the Company, that (A) the proposed disposition does not require
registration of the Purchased Shares under the Securities Act or all appropriate action necessary for compliance with the registration requirements of the Securities Act or with any exemption from registration available under the Securities Act
(including Rule 144) has been taken and (B) the proposed disposition will not result in the contravention of any transfer restrictions applicable to the Purchased Shares under the securities laws or regulations of any state. 
 (v) The Purchaser has been furnished with, and has had access to, such information as he or she considers necessary or appropriate for
deciding whether to invest in the Purchased Shares, and the Purchaser has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the issuance of the Purchased Shares. 
 (vi) The Purchaser is aware that his or her investment in the Company is a speculative investment that has limited liquidity and is
subject to the risk of complete loss. The Purchaser is able, without impairing his or her financial condition, to hold the Purchased Shares for an indefinite period and to suffer a complete loss of his or her investment in the Purchased Shares.

 (b) Securities Law Restrictions. Regardless of whether the offering and sale of Shares under this Agreement have been registered
under the Securities Act or have been registered or qualified under the securities laws of any state, the Company at its discretion may impose restrictions upon the sale, pledge or other transfer of the Purchased Shares (including the placement of
appropriate legends on stock certificates or the imposition of stop-transfer instructions) if, in the judgment of the Company, such restrictions are necessary or desirable in order to achieve compliance with the Securities Act, the securities laws
of any state or any other law. 
 (c) Market Stand-Off. In connection with any underwritten public offering by the Company of its
equity securities pursuant to an effective registration statement filed under the Securities Act, including the Company’s initial public offering, the Purchaser shall not directly or indirectly sell, make any short sale of, loan, hypothecate,
pledge, offer, grant or sell any option or other contract for the purchase of, purchase any option or other contract for the sale of, or otherwise dispose of or transfer, or agree to engage in any of the foregoing transactions with respect to, any
Purchased Shares without the prior written consent of the Company or its underwriters. Such restriction (the “Market Stand-Off”) shall be in effect for such period of time following the date of the final prospectus for the offering as may
be requested by the Company or such underwriters. In no event, however, shall such period exceed 180 days. The Market Stand-Off shall in any event terminate two years after the date of the Company’s initial public offering. In the event of the
declaration of a stock dividend, a spin-off, a stock split, an adjustment in conversion ratio, a recapitalization or a similar transaction affecting the Company’s outstanding securities without receipt of consideration, any new, substituted or
additional securities that are by reason of such transaction distributed with respect to any Shares subject to the Market Stand-Off, or into which such Shares thereby become convertible, shall 

  

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immediately be subject to the Market Stand-Off. In order to enforce the Market Stand-Off, the Company may impose stop-transfer instructions with respect to
the Purchased Shares until the end of the applicable stand-off period. The Company’s underwriters shall be beneficiaries of the agreement set forth in this Subsection (c). This Subsection (c) shall not apply to Shares registered in
the public offering under the Securities Act, and the Purchaser shall be subject to this Subsection (c) only if the directors and officers of the Company are subject to similar arrangements. 
 (d) Rights of the Company. The Company shall not be required to (i) transfer on its books any Purchased Shares that have been sold or
transferred in contravention of this Agreement or (ii) treat as the owner of Purchased Shares, or otherwise to accord voting, dividend or liquidation rights to, any transferee to whom Purchased Shares have been transferred in contravention of
this Agreement. 
 SECTION 4. SUCCESSORS AND ASSIGNS. 
 Except as otherwise expressly provided to the contrary, the provisions of this Agreement shall inure to the benefit of, and be binding upon, the Company and its successors and assigns and be binding upon the Purchaser
and the Purchaser’s legal representatives, heirs, legatees, distributees, assigns and transferees by operation of law, whether or not any such person has become a party to this Agreement or has agreed in writing to join herein and to be bound
by the terms, conditions and restrictions hereof. 
 SECTION 5. LEGENDS. 
 All certificates evidencing Purchased Shares shall bear the following legends: 
 “THE SHARES REPRESENTED
HEREBY MAY NOT BE SOLD, ASSIGNED, TRANSFERRED, ENCUMBERED OR IN ANY MANNER DISPOSED OF, EXCEPT IN COMPLIANCE WITH THE TERMS OF A WRITTEN AGREEMENT BETWEEN THE COMPANY AND THE REGISTERED HOLDER OF THE SHARES (OR THE PREDECESSOR IN INTEREST TO THE
SHARES). SUCH AGREEMENT GRANTS TO THE COMPANY CERTAIN RIGHTS OF FIRST REFUSAL UPON AN ATTEMPTED TRANSFER OF THE SHARES. THE SECRETARY OF THE COMPANY WILL UPON WRITTEN REQUEST FURNISH A COPY OF SUCH AGREEMENT TO THE HOLDER HEREOF WITHOUT
CHARGE.” 
 “THE SHARES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE
SOLD, PLEDGED, OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION THEREOF UNDER SUCH ACT OR AN OPINION OF COUNSEL, SATISFACTORY TO THE COMPANY AND ITS COUNSEL, THAT SUCH REGISTRATION IS NOT REQUIRED.” 
 If required by the authorities of any state in connection with the issuance of the Purchased Shares, the legend or legends required by such state authorities shall also
be endorsed on all such certificates. 
  

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 SECTION 6. NOTICE. 
 Any notice required by the terms of this Agreement shall be given in writing. It shall be deemed effective upon (i) personal delivery, (ii) deposit with the United States Postal Service, by registered or
certified mail, with postage and fees prepaid or (iii) deposit with Federal Express Corporation, with shipping charges prepaid. Notice shall be addressed to the Company at its principal executive office and to the Purchaser at the address that
he or she most recently provided to the Company in accordance with this Section 6. 
 SECTION 7. ENTIRE AGREEMENT. 
 This Agreement constitutes the entire contract between the parties hereto with regard to the subject matter hereof. It supersedes any other agreements,
representations or understandings (whether oral or written and whether express or implied) that relate to the subject matter hereof. 
 SECTION 8. CHOICE
OF LAW. 
 This Agreement shall be governed by, and construed in accordance with, the laws of the State of California, as such laws are
applied to contracts entered into and performed in such state. 
 SECTION 9. DEFINITIONS. 
 (a) “Agreement” shall mean this Stock Purchase Agreement. 
 (b) “Board of Directors” shall mean the Board of Directors of the Company, as constituted from time to time. 
 (c) “Fair Market Value” shall mean the fair market value of a Share, as determined by the Board of Directors in good faith. Such determination shall be conclusive and binding on all persons.

 (d) “Immediate Family” shall mean any child, stepchild, grandchild, parent, stepparent, grandparent, spouse, sibling,
mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law or sister-in-law and shall include adoptive relationships. 
 (e)
“Purchased Shares” shall mean the Shares purchased by the Purchaser pursuant to this Agreement. 
 (f) “Purchase
Price” shall mean the dollar value for which one Share may be purchased pursuant to this Agreement, as specified in Section 1(b). 
  

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 (g) “Right of First Refusal” shall mean the Company’s right of first refusal
described in Section 2. 
 (h) “Securities Act” shall mean the Securities Act of 1933, as amended. 
 (i) “Share” shall mean one share of Stock. 
 (j) “Stock” shall mean the Common Stock of the Company, with a par value of $0.0001 per Share. 
 (k) “Transferee” shall mean any person to whom the Purchaser has directly or indirectly transferred any Purchased Share. 
 (l) “Transfer Notice” shall mean the notice of a proposed transfer of Purchased Shares described in Section 2. 
  

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 IN WITNESS WHEREOF, each of the parties has executed this
Stock Purchase Agreement, in the case of the Company by its duly authorized officer, as of the day and year first above written. 
  

					
	PURCHASER:	 	NBT TECHNOLOGY, INC.
			
	 /s/ Jerry Kennelly
	 	By:	 	 /s/ Steven McCanne

			
	Kennelly Partners, L.P.	 	Title:	 	 CFO

  

 8Stock Restriction Agreement - 11/7/02 - Kennelly

 Exhibit 10.26 
 STOCK RESTRICTION AGREEMENT 
 THIS
STOCK RESTRICTION AGREEMENT is entered into as of November 7, 2002, by and among NBT Technology, Inc., a Delaware corporation (the “Company”), Jerry Kennelly (“Kennelly”) and
Kennelly Partners, L.P. (the “Stockholder”). 
 RECITALS 
 WHEREAS, the Company and the Stockholder entered into that certain Stock Purchase Agreement dated as of May 23, 2002 (the “Stock Purchase
Agreement”) pursuant to which the Stockholder purchased five million (5,000,000) shares of Common Stock of the Company (the “Purchased Shares”) at $0.001 per Share (the “Purchase Price”) for an aggregate purchase price
of five thousand dollars ($5,000.00); and 
 WHEREAS, pursuant to the Stock Purchase Agreement, the Purchased Shares were fully vested and
not subject to repurchase by the Company; and 
 WHEREAS, in order to induce certain investors to purchase shares of Series A Preferred Stock
of the Company, the Stockholder hereby agrees to the imposition of contractual restrictions with respect to the Purchased Shares, and the Stockholder and the Company hereby agree that this Agreement shall govern the right of the Company to
repurchase the Purchased Shares under the circumstances specified herein; and 
 WHEREAS, capitalized terms not defined above are defined in
Section 9 of this Agreement. 
 NOW, THEREFORE, in consideration of the mutual promises and covenants set forth herein, the parties
hereby agree as follows: 
 SECTION 1. RIGHT OF REPURCHASE. 
 (a) Scope of Repurchase Right. Until they vest in accordance with Subsection (b) below, the Purchased Shares shall be Restricted Shares and shall be subject to the Company’s Right of Repurchase. The
Company, however, may decline to exercise its Right of Repurchase or may exercise its Right of Repurchase with respect to a portion of the Restricted Shares. The Company may exercise its Right of Repurchase only during the Repurchase Period
following the termination of Kennelly’s Service. The Right of Repurchase may be exercised automatically under Subsection (d) below. If the Right of Repurchase is exercised, the Company shall pay the Stockholder an amount equal to the
Purchase Price for each of the Restricted Shares being repurchased. 
 (b) Lapse of Repurchase Right. The Right of Repurchase shall
lapse with respect to the first 25% of the Purchased Shares when Kennelly completes 12 months of 

 
continuous Service after the Vesting Commencement Date. The Right of Repurchase shall lapse with respect to an additional 2.0833% of the Purchased Shares
when Kennelly completes each month of continuous Service thereafter. In addition, provided that Kennelly continues Service with the Company, the Right of Repurchase shall lapse on an accelerated basis as set forth below: 
 (i) If Kennelly dies or his Service is terminated by the Company without Cause within the first 12 months of Service measured from the
Vesting Commencement Date, then the Right of Repurchase shall lapse with respect to 25% of the Purchased Shares. 
 (ii) If
the Company is subject to a Change in Control, then the Right of Repurchase shall lapse with respect to an additional 25% of the Purchased Shares and the remaining Restricted Shares shall continue to vest in monthly installments as set forth under
Section 1(b) above. 
 (iii) If Kennelly is subject to an Involuntary Termination within 12 months following such Change
in Control, then in addition to the acceleration set forth under subsection (ii) above, the Right of Repurchase shall lapse with respect to an additional 25% of the Purchased Shares. 
 (c) Escrow. Upon execution of this Agreement, the certificate(s) for Restricted Shares shall be deposited in escrow with the Company to be held in
accordance with the provisions of this Agreement. Any additional or exchanged securities or other property described in Subsection (f) below shall immediately be delivered to the Company to be held in escrow. All ordinary cash dividends on
Restricted Shares (or on other securities held in escrow) shall be paid directly to the Stockholder and shall not be held in escrow. Restricted Shares, together with any other assets held in escrow under this Agreement, shall be (i) surrendered
to the Company for repurchase upon exercise of the Right of Repurchase or the Right of First Refusal or (ii) released to the Stockholder upon request to the extent that the Purchased Shares have ceased to be Restricted Shares (but not more
frequently than once every six months). In any event, all Purchased Shares that have ceased to be Restricted Shares, together with any other vested assets held in escrow under this Agreement, shall be released within 180 days after the earlier of
(i) the termination of Kennelly’s Service or (ii) the lapse of the Right of First Refusal. 
 (d) Exercise of Repurchase
Right. The Company shall be deemed to have exercised its Right of Repurchase automatically for all Restricted Shares as of the commencement of the Repurchase Period, unless the Company during the Repurchase Period notifies the holder of the
Restricted Shares pursuant to Section 6 that it will not exercise its Right of Repurchase for some or all of the Restricted Shares. During the Repurchase Period, the Company shall pay to the holder of the Restricted Shares the purchase price
determined under Subsection (a) above for the Restricted Shares being repurchased. Payment shall be made in cash or cash equivalents and/or by canceling indebtedness to the Company incurred by the Stockholder in the purchase of the Restricted
Shares. The certificate(s) representing the Restricted Shares being repurchased shall be delivered to the Company properly endorsed for transfer. 

 (e) Termination of Rights as Stockholder. If the Right of Repurchase is exercised in accordance
with this Section 1 and the Company makes available the consideration for the Restricted Shares being repurchased, then the person from whom the Restricted Shares are repurchased shall no longer have any rights as a holder of the Restricted
Shares (other than the right to receive payment of such consideration). Such Restricted Shares shall be deemed to have been repurchased pursuant to this Section 1, whether or not the certificate(s) for such Restricted Shares have been delivered
to the Company or the consideration for such Restricted Shares has been accepted. 
 (f) Additional or Exchanged Securities and
Property. In the event of a merger or consolidation of the Company with or into another entity, any other corporate reorganization, a stock split, the declaration of a stock dividend, the declaration of an extraordinary dividend payable in a
form other than stock, a spin-off, an adjustment in conversion ratio, a recapitalization or a similar transaction affecting the Company’s outstanding securities, any securities or other property (including cash or cash equivalents) that are by
reason of such transaction exchanged for, or distributed with respect to, any Restricted Shares shall immediately be subject to the Right of Repurchase. Appropriate adjustments to reflect the exchange or distribution of such securities or property
shall be made to the number and/or class of the Restricted Shares. Appropriate adjustments shall also be made to the price per share to be paid upon the exercise of the Right of Repurchase, provided that the aggregate purchase price payable for the
Restricted Shares shall remain the same. In the event of a merger or consolidation of the Company with or into another entity or any other corporate reorganization, the Right of Repurchase may be exercised by the Company’s successor.

 (g) Transfer of Restricted Shares. The Stockholder shall not transfer, assign, encumber or otherwise dispose of any Restricted
Shares without the Company’s written consent, except as provided in the following sentence. The Stockholder may transfer Restricted Shares to one or more members of Kennelly’s Immediate Family or to a trust established by the Stockholder
or Kennelly for the benefit of Kennelly and/or one or more members of Kennelly’s Immediate Family, provided in either case that the Transferee agrees in writing on a form prescribed by the Company to be bound by all provisions of this
Agreement. If the Stockholder transfers any Restricted Shares, then this Agreement shall apply to the Transferee to the same extent as to the Stockholder. 
 (h) Assignment of Repurchase Right. The Board of Directors may freely assign the Company’s Right of Repurchase, in whole or in part. Any person who accepts an assignment of the Right of Repurchase from the
Company shall assume all of the Company’s rights and obligations under this Section 1. 
 SECTION 2. SUCCESSORS AND ASSIGNS. 
 Except as otherwise expressly provided to the contrary, the provisions of this Agreement shall inure to the benefit of, and be binding upon, the Company
and its successors and assigns and be binding upon the Stockholder and the Stockholder’s legal representatives, heirs, legatees, distributees, assigns and transferees by operation of law, whether or not any such person has become a party to
this Agreement or has agreed in writing to join herein and to be bound by the terms, conditions and restrictions hereof. 

 SECTION 3. NO RETENTION RIGHTS. 
 Nothing in this Agreement shall confer upon Kennelly any right to continue in Service for any period of specific duration or interfere with or otherwise restrict in any way the rights of the Company (or any Parent or
Subsidiary employing or retaining Kennelly) or of Kennelly, which rights are hereby expressly reserved by each, to terminate his Service at any time and for any reason, with or without cause. 
 SECTION 4. TAX ELECTION. 
 The imposition of the Right
of Repurchase under this Agreement may result in adverse tax consequences that may be avoided or mitigated by filing an election under Code Section 83(b). Such election may be filed only within 30 days after the date of this Agreement. The form
for making the Code Section 83(b) election is attached to this Agreement as Exhibit I. Kennelly should consult with his tax advisor to determine the tax consequences of executing this Agreement and the advantages and disadvantages of
filing the Code Section 83(b) election. Kennelly acknowledges that it is his sole responsibility, and not the Company’s, to file a timely election under Code Section 83(b), even if Kennelly requests the Company or its representatives
to make this filing on his behalf. 
 SECTION 5. LEGEND. 
 All certificates evidencing Restricted Shares shall bear the following legend (in addition to any legend(s) required by the Stock Purchase Agreement or applicable law): 
 “THE SHARES REPRESENTED HEREBY MAY NOT BE SOLD, ASSIGNED, TRANSFERRED, ENCUMBERED OR IN ANY MANNER DISPOSED OF, EXCEPT IN COMPLIANCE WITH THE TERMS
OF A WRITTEN AGREEMENT BETWEEN THE COMPANY AND THE REGISTERED HOLDER OF THE SHARES (OR THE PREDECESSOR IN INTEREST TO THE SHARES). SUCH AGREEMENT GRANTS TO THE COMPANY CERTAIN REPURCHASE RIGHTS UPON TERMINATION OF SERVICE WITH THE COMPANY. THE
SECRETARY OF THE COMPANY WILL UPON WRITTEN REQUEST FURNISH A COPY OF SUCH AGREEMENT TO THE HOLDER HEREOF WITHOUT CHARGE.” 
 SECTION 6. NOTICE.

 Any notice required by the terms of this Agreement shall be given in writing. It shall be deemed effective upon (i) personal
delivery, (ii) deposit with the United States Postal Service, by registered or certified mail, with postage and fees prepaid or (iii) deposit with Federal Express Corporation, with shipping charges prepaid. Notice shall be addressed to the
Company at its principal executive office and to Kennelly or the Stockholder at the address most recently provided to the Company in accordance with this Section 6. 

 SECTION 7. ENTIRE AGREEMENT. 
 This Agreement and the Stock Purchase Agreement constitute the entire contract between the parties hereto with regard to the subject matter hereof. It supersedes any other agreements, representations or understandings
(whether oral or written and whether express or implied) which relate to the subject matter hereof. Except as otherwise set forth herein, the terms and conditions of the Stock Purchase Agreement shall continue in full force and effect. 

SECTION 8. CHOICE OF LAW. 
 This Agreement shall be
governed by, and construed in accordance with, the laws of the State of Delaware, as such laws are applied to contracts entered into and performed in such State. 
 SECTION 9. DEFINITIONS. 
 (a) “Agreement” shall mean this Stock Restriction Agreement. 
 (b) “Cause” shall mean: 
 (i) Kennelly’s violation of a federal or state law or regulation applicable to the Company’s business which violation was or is reasonably likely to be materially injurious to the Company 
 (ii) Kennelly committing any act of dishonesty, fraud or misrepresentation that is materially injurious to the Company or its affiliates;

 (iii) An unauthorized use or disclosure by Kennelly of the Company’s confidential information or trade secrets, which
use or disclosure causes material harm to the Company; 
 (iv) A deliberate and material failure by Kennelly to comply with
the Company’s written policies or rules as they pertain to the performance of his duties; 
 (v) Kennelly’s
conviction of, or plea of “guilty” or “no contest” to, a felony under the laws of the United States or any state thereof; 
 (vi) Kennelly’s gross misconduct; or 
 (vii) A continued failure by Kennelly to perform
assigned duties after receiving written notification of such failure from the Board of Directors, provided that such duties are those customarily performed by Kennelly, and provided further that this clause (vii) shall not be satisfied solely
due to the Board of Directors’ dissatisfaction with the quality of the services provided by Kennelly. 

 (c) “Change in Control” shall mean (i) the consummation of a merger or
consolidation of the Company with or into another entity or (ii) the dissolution, liquidation or winding up of the Company. The foregoing notwithstanding, a merger or consolidation of the Company shall not constitute a “Change in
Control” if immediately after such merger or consolidation a majority of the voting power of the capital stock of the continuing or surviving entity, or any direct or indirect parent corporation of such continuing or surviving entity, will be
owned by the persons who were the Company’s stockholders immediately prior to such merger or consolidation in substantially the same proportions as their ownership of the voting power of the Company’s capital stock immediately prior to
such merger or consolidation. Additionally, a transaction shall not constitute a Change in Control if its sole purpose is to change the state of this corporation’s incorporation or to create a holding company that will be owned in substantially
the same proportions by the persons who held this corporation’s securities immediately prior to such transaction. 
 (d)
“Code” shall mean the Internal Revenue Code of 1986, as amended. 
 (e) “Consultant” shall mean a person
who performs bona fide services for the Company, a Parent or a Subsidiary as a consultant or advisor, excluding Employees and Outside Directors. 
 (f) “Employee” shall mean any individual who is a common-law employee of the Company, a Parent or a Subsidiary. 
 (g) “Immediate Family” shall mean any child, stepchild, grandchild, parent, stepparent, grandparent, spouse, sibling, mother-in-law, father-in-law, son-in-law, daughter-in- law, brother-in-law or sister-in-law and shall
include adoptive relationships. 
 (h) “Involuntary Termination” shall mean the termination of Kennelly’s Service by
reason of: 
 (i) The involuntary discharge of Kennelly by the Company (or the Parent or Subsidiary employing him) for reasons
other than Cause; or 
 (ii) The voluntary resignation of Kennelly following (A) a change in Kennelly’s position
with the Company (or the Parent or Subsidiary employing him) that materially reduces his level of authority or responsibility, (B) a reduction in Kennelly’s base salary by more than 10% (unless such reduction affects all similarly situated
employees of the Company in an equal manner) or (C) receipt of notice that Kennelly’s principal workplace will be relocated more than 35 miles. 
 (i) “Outside Director” shall mean a member of the Company’s Board of Directors who is not an Employee. 
 (j) “Parent” shall mean any corporation (other than the Company) in an unbroken chain of corporations ending with the Company, if each of the corporations other than the Company owns stock possessing
50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain. 

 (k) “Repurchase Period” shall mean a period of 180 consecutive days commencing on the
date Kennelly’s Service terminates for any reason, including (without limitation) death or disability. 
 (l) “Restricted
Share” shall mean a Purchased Share that is subject to the Right of Repurchase. 
 (m) “Right of First Refusal”
shall mean the Company’s right of first refusal described in the Stock Purchase Agreement or the First Refusal and Co-Sale Agreement dated November 7, 2002, whichever is applicable. 
 (n) “Right of Repurchase” shall mean the Company’s right of repurchase described in Section 1. 
 (o) “Service” shall mean service as an Employee or Consultant. 
 (p) “Share” shall mean one share of Stock. 
 (q) “Stock” shall mean the Common Stock of the Company, with a par value of $0.0001 per Share. 
 (r) “Subsidiary” shall mean any corporation (other than the Company) in an If unbroken chain of corporations beginning with the Company, if each of the corporations other than the last corporation in the unbroken chain owns
stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain. 
 (s) “Transferee” shall mean any person to whom the Stockholder has directly or indirectly transferred a Purchased Share. 
 (t) “Vesting Commencement Date” shall mean May 1, 2002. 

 IN WITNESS WHEREOF, each of the parties has executed this
Stock Restriction Agreement, in the case of the Company by its duly authorized officer, as of the day and year first above written. 
  

			
	NBT TECHNOLOGY, INC.
		
	By:	 	 /s/ Steven McCanne

	Name:	 	Steve McCanne
	Title:	 	CTO
	
	Address:
	139 Townsend Street, 3rd Floor
	San Francisco, CA 94107
	
	 /s/ Jerry Kennelly

	Jerry Kennelly
	
	Address:
	
	
	
	STOCKHOLDER:
	
	 /s/ Jerry Kennelly

	Kennelly Partners, L.P.
	
	Address:
	
	

 EXHIBIT I 
 SECTION 83(b) ELECTION 
 This statement is made under
Section 83(b) of the Internal Revenue Code of 1986, as amended, pursuant to Treasury Regulations Section 1.83-2. 
  

	(1)	The taxpayer who performed the services is: 

 Name: Jerry
Kennelly 
 Address: 
 Social
Security No.: 
  

	(2)	The property with respect to which the election is made is
                     shares of the common stock of NBT Technology, Inc. 

  

	(3)	The property was transferred on November     , 2002. 

  

	(4)	The taxable year for which the election is made is the calendar year 2002. 

  

	(5)	The property is subject to a repurchase right pursuant to which the issuer has the right to acquire the property at the original purchase price if for any reason taxpayer’s
service with the issuer is terminated. The issuer’s repurchase right lapses in a series of installments over a four-year period ending on May 1, 2006. 

  

	(6)	The fair market value of such property at the time of transfer (determined without regard to any restriction other than a restriction that, by its terms, will never lapse) is
$             per, share. 

  

	(7)	The amount paid for such property is $             per share. 

  

	(8)	A copy of this statement was furnished to NBT Technology, Inc., for whom taxpayer rendered the services underlying the transfer of such property. 

  

	(9)	This statement is executed on November     , 2002. 

  

			
	  
	 	  

	Signature of Spouse (if any)	 	Signature of Taxpayer

 Within 30 days after executing the Stock Restriction Agreement, this election must be filed with the
Internal Revenue Service Center where Kennelly files his federal income tax returns. The filing should be made by registered or certified mail, return receipt requested. Kennelly must (a) file a copy of the completed form with his federal tax
return for the current tax year and (b) deliver an additional copy to the Company.

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