Document:

EX-4.21

 Exhibit 4.21 
 March 2012 Deed of Amendment 
 CBA Facility Agreement 

 

			
		
	 Date
	 	 6 March 2012

		
	 Parties
	 	 Sims Metal Management Limited
 ACN 114 838 630 of Sir Joseph Banks Corporate Park, Suite 3, Level 2 32-34
 Lord Street Botany NSW
2019 (Sims)
 and each other Borrower under the Facility Agreement (defined below)

		
		 	 Commonwealth Bank of Australia
 ABN 48 123 123 124 of Level 21, Darling Park Tower 1, 201 Sussex Street,
 Sydney, New South Wales
2000, Australia (the Lender)

 Recitals 
  

	A	Under the Facility Agreement, the Lender has granted certain facilities to the Borrowers. 

 

	B	At the request of Sims, the parties to the Facility Agreement have agreed to amend the Facility Agreement as set out in this Deed. 

Operative provisions 
  

 
  

	1.	Definitions and Interpretation 

  

	1.1	The following definitions apply in this Deed: 

 Borrower has the meaning given to it in the Facility Agreement. 

Common Terms Deed means the “Common Terms Deed” of that title dated 23 June 2011, as amended, between Sims,
each party listed in Part 1 of Schedule 1 of that deed as Original Borrowers, each party listed in Part 2 of Schedule 1 of that deed as Original Guarantors and the persons listed in Part 3 of Schedule 1 of that deed as Original Lenders. 

Facility Agreement means the “Multi Option Facility Agreement” of that title dated 2 November 2009, as
amended from time to time and most recently on 23 June 2011 between, amongst others, Sims and the Lender. 

Transaction Document has the meaning given to it in the Facility Agreement. 

 

	1.2	Capitalised terms used in this Deed have the same meaning as in the Facility Agreement (as amended by this Deed) or the Common Terms Deed, unless otherwise defined in
this Deed. 

  

	1.3	Clause 1.3 of the Common Terms Deed applies to this Deed as if set out in full in this Deed and all references to this deed were references to this
Deed. 

  
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	2.	Amendment 

  

	2.1	The parties to this Deed agree that the Facility Agreement is amended, with effect from the date of this Deed, as follows: 

 

	 	(a)	the A$ Facility Limit of “A$87,200,000” specified in Part A of the Key Terms Schedule is deleted and replaced by “A$58,200,000”, being a decrease in
the A$ Facility Limit by an amount of A$29,000,000; 

  

	 	(b)	the GBP Facility Limit of “£82,500,000” specified in Part C of the Key Terms Schedule is deleted and replaced by “£102,500,000”, being
an increase in the GBP Facility Limit by an amount of £20,000,000; 

  

	 	(c)	the amount of “A$87.2” million specified as the Commitment for the A$ Facility in Part D of the Key Terms Schedule is deleted and replaced by
“A$58.2” million, being a decrease in the Commitment for the A$ Facility by an amount of A$29,000,000; and 

  

	 	(d)	the amount of “£82.5” million specified as the Commitment for the GBP Facility in Part D of the Key Terms Schedule is deleted and replaced by
“£102.5” million, being an increase in the Commitment for the GBP Facility by an amount of £20,000,000. 

  

	3.	References to Facility Agreement 

  

	3.1	Every reference in the Transaction Documents to the Facility Agreement is to be construed as a reference to the Facility Agreement as amended by this Deed. Any
reference to this agreement, in this agreement, of this agreement or words to the same effect in the Facility Agreement will be construed as a reference to the Facility Agreement as amended by this Deed.

  

	4.	Confirmation 

  

	4.1	Subject to the provisions of this Deed, the Facility Agreement is confirmed and remains in full force and effect. This Deed and the Facility Agreement will be read and
construed as one document. 

  

	5.	General Provisions 

  

	5.1	This Deed is a Transaction Document in respect of the Lender for the purposes of the Facility Agreement and a “ Transaction Document” (as defined in the
Common Terms Deed) in respect of the Lender for the purposes of the definition of “Transaction Document” in clause 1.2 of the Common Terms Deed. 

  

	5.2	This Deed is governed by the laws of New South Wales. Each Borrower irrevocably submits to the non-exclusive jurisdiction of the courts of New South Wales.

  

	5.3	This Deed may be executed and delivered in counterparts (including by facsimile, telecopy or other electronic imaging means of transmission), each of which will be
deemed an original. All counterparts, taken together, constitute one instrument. 

  

	5.4	Each of the attorneys executing this Deed states that the attorney has no notice of the revocation of the power of attorney appointing that attorney.

  
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 Executed as a deed. 
  

			
		 	Sims
		
		 	 Executed by
 Sims Metal
Management Limited
 for itself and as attorney for each
 other Borrower pursuant
 to clause 15.2 of the

Common Terms Deed
 in accordance with
section 127(1) of the
 Corporations Act 2001 (Cth)
 by a director and secretary/director:

		
	sign here u	 	 /s/ Frank Moratti

		 	Company Secretary/Director
		
	print name	 	 Frank Moratti

		
	sign here u	 	 /s/ Daniel W. Dienst

		 	Director
		
	print name	 	 Daniel W. Dienst

  
  

  
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		 	Lender
		
		 	 Signed sealed and delivered for
 Commonwealth Bank of Australia
 by its attorney

		
	sign here u	 	 /s/ Katherine Morrison

		 	Attorney
		
	print name	 	 Katherine Morrison

		
		 	in the presence of
		
	sign here u	 	 /s/ Kim Nguyen

		 	Witness
		
	 print name
	 	 Kim Nguyen

  
  

  
 4Form of Non-Plan Stock Option Agreement

 Exhibit 4.7 
 WORKDAY, INC. 
 FORM
OF NOTICE OF STOCK OPTION GRANT (EARLY EXERCISE) 
 The Optionee has been granted the following option to purchase shares of the Common Stock of Workday, Inc.: 
  

			
	 Name of Optionee:
	  	[NAME]
		
	 Total Number of Shares:
	  	[NUMBER]
		
	 Type of Option:
	  	Nonstatutory Stock Option (NSO)
		
	 Exercise Price per Share:
	  	$[PRICE]
		
	 Date of Grant:
	  	[DATE]
		
	 Date Exercisable:
	  	[DATE]
		
	 Vesting Commencement Date:
	  	[DATE]
		
	 Vesting Schedule:
	  	The Right of Repurchase shall lapse with respect to the first 20% of the Shares subject to this option when the Optionee completes 12 months of continuous Service beginning with
the Vesting Commencement Date set forth above. The Right of Repurchase shall lapse with respect to an additional 5% of the Shares subject to this option when the Optionee completes each three-month period of continuous Service
thereafter.
		
	 Expiration Date:
	  	[DATE]. This option expires earlier if the Optionee’s Service terminates earlier, as provided in Section 6 of the Stock Option Agreement.

 By signing below, the Optionee and the Company agree that this option is granted under, and governed by the terms and
conditions of the Stock Option Agreement, which is attached to, and made a part of, this Notice of Stock Option Grant. Section 15 of the Stock Option Agreement includes important acknowledgements of the Optionee. 

 

					
	OPTIONEE:	  		  	WORKDAY, INC.
			
		  	By:	  	 
		  	Title:	  	 

 THE OPTION GRANTED PURSUANT TO THIS AGREEMENT AND THE SHARES ISSUABLE UPON THE EXERCISE THEREOF 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. 

 WORKDAY, INC. 

STOCK OPTION AGREEMENT 
 SECTION 1. GRANT OF OPTION. 
 (a) Option. On the terms and conditions
set forth in the Notice of Stock Option Grant and this Agreement, the Company grants to the Optionee on the Date of Grant the option to purchase at the Exercise Price the number of Shares set forth in the Notice of Stock Option Grant. The Exercise
Price is agreed to be at least 100% of the Fair Market Value per Share on the Date of Grant. This option is intended to be an NSO, as provided in the Notice of Stock Option Grant. 

(b) Defined Terms. Capitalized terms are defined in Section 16 of this Agreement. 

SECTION 2. RIGHT TO EXERCISE. 
 Subject to the other conditions set forth in this Agreement, all or part of this option may be exercised prior to its expiration at the time or times set forth in the Notice of Stock Option Grant. Shares
purchased by exercising this option may be subject to the Right of Repurchase under Section 7. 
 SECTION 3. NO TRANSFER OR ASSIGNMENT
OF OPTION. 
 Except as otherwise provided in this Agreement, this option and the rights and privileges conferred hereby
shall not be sold, pledged or otherwise transferred (whether by operation of law or otherwise) and shall not be subject to sale under execution, attachment, levy or similar process. In addition, this option shall comply with all conditions of Rule
12h-1(f)(1) under the Exchange Act until the Company becomes subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act. Such conditions include, without limitation, the transferability restrictions set forth in Rule
12h-1(f)(1)(iv) and (v) under the Exchange Act, which shall apply to this option and, prior to exercise, to the Shares to be issued upon exercise of this option during the period commencing on the Date of Grant and ending on the earlier of
(i) the date when the Company becomes subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act or (ii) the date when the Company makes a determination that it will cease to rely on the exemption afforded by
Rule 12h-1(f)(1) under the Exchange Act. During such period, this option and, prior to exercise, the Shares to be issued upon exercise of this option shall be restricted as to any pledge, hypothecation or other transfer by the Optionee, including
any short position, any “put equivalent position” (as defined in Rule 16a-1(h) under the Exchange Act) or any “call equivalent position” (as defined in Rule 16a-1(b) under the Exchange Act). 

SECTION 4. EXERCISE PROCEDURES. 
 (a) Notice of Exercise. The Optionee or the Optionee’s representative may exercise this option by giving written notice to the Company pursuant to Section 13(c). The

  
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notice shall specify the election to exercise this option, the number of Shares for which it is being exercised and the form of payment. The person exercising this option shall sign the notice.
In the event that this option is being exercised by the representative of the Optionee, the notice shall be accompanied by proof (satisfactory to the Company) of the representative’s right to exercise this option. The Optionee or the
Optionee’s representative shall deliver to the Company, at the time of giving the notice, payment in a form permissible under Section 5 for the full amount of the Purchase Price. In the event of a partial exercise of this option, Shares
shall be deemed to have been purchased in the order in which they vest in accordance with the Notice of Stock Option Grant. 

(b) Issuance of Shares. After receiving a proper notice of exercise, the Company shall cause to be issued one or more certificates
evidencing the Shares for which this option has been exercised. Such Shares shall be registered (i) in the name of the person exercising this option, (ii) in the names of such person and his or her spouse as community property or as joint
tenants with the right of survivorship or (iii) with the Company’s consent, in the name of a revocable trust. In the case of Restricted Shares, the Company shall cause such certificates to be deposited in escrow under Section 7(c). In
the case of other Shares, the Company shall cause such certificates to be delivered to or upon the order of the person exercising this option. 
 (c) Withholding Taxes. In the event that the Company determines that it is required to withhold any tax as a result of the exercise of this option, the Optionee, as a condition to the exercise of
this option, shall make arrangements satisfactory to the Company to enable it to satisfy all withholding requirements. The Optionee shall also make arrangements satisfactory to the Company to enable it to satisfy any withholding requirements that
may arise in connection with the vesting or disposition of Shares purchased by exercising this option. 
 SECTION 5. PAYMENT FOR STOCK.

 (a) Cash. All or part of the Purchase Price may be paid in cash or cash equivalents. 

(b) Surrender of Stock. At the discretion of the Board of Directors, all or any part of the Purchase Price may be paid by
surrendering, or attesting to the ownership of, Shares that are already owned by the Optionee. Such Shares shall be surrendered to the Company in good form for transfer and shall be valued at their Fair Market Value as of the date when this option
is exercised. 
 (c) Exercise/Sale. All or part of the Purchase Price and any withholding taxes may be paid by the
delivery (on a form prescribed by the Company) of an irrevocable direction to a securities broker approved by the Company to sell Shares and to deliver all or part of the sales proceeds to the Company. However, payment pursuant to this
Subsection (c) shall be permitted only if (i) Stock then is publicly traded and (ii) such payment does not violate applicable law. 

  
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 SECTION 6. TERM AND EXPIRATION. 

(a) Basic Term. This option shall in any event expire on the expiration date set forth in the Notice of Stock Option Grant, which
date is 10 years after the Date of Grant. 
 (b) Termination of Service (Except by Death). If the Optionee’s Service
terminates for any reason other than death, then this option shall expire on the earliest of the following occasions: 
 (i) The expiration date determined pursuant to Subsection (a) above; 
 (ii) The date three months after the termination of the Optionee’s Service for any reason other than Disability; or 

(iii) The date six months after the termination of the Optionee’s Service by reason of Disability. 

The Optionee may exercise all or part of this option at any time before its expiration under the preceding sentence, but only to the extent that this
option is exercisable for vested Shares on or before the date when the Optionee’s Service terminates. When the Optionee’s Service terminates, this option shall expire immediately with respect to the number of Shares for which this option
is not yet exercisable and with respect to any Restricted Shares. In the event that the Optionee dies after termination of Service but before the expiration of this option, all or part of this option may be exercised (prior to expiration) by the
executors or administrators of the Optionee’s estate or by any person who has acquired this option directly from the Optionee by beneficiary designation, bequest or inheritance, but only to the extent that this option was exercisable for vested
Shares on or before the date when the Optionee’s Service terminated. 
 (c) Death of the Optionee. If the Optionee
dies while in Service, then this option shall expire on the earlier of the following dates: 
 (i) The expiration
date determined pursuant to Subsection (a) above; or 
 (ii) The date 12 months after the Optionee’s
death. 
 All or part of this option may be exercised at any time before its expiration under the preceding sentence by the executors or
administrators of the Optionee’s estate or by any person who has acquired this option directly from the Optionee by beneficiary designation, bequest or inheritance, but only to the extent that this option is exercisable for vested Shares on or
before the date of the Optionee’s death. When the Optionee dies, this option shall expire immediately with respect to the number of Shares for which this option is not yet exercisable and with respect to any Restricted Shares. 

(d) Part-Time Employment and Leaves of Absence. If the Optionee commences working on a part-time basis, then the Company may
adjust the vesting schedule set forth in the Notice of Stock Option Grant. If the Optionee goes on a leave of absence, then the 

  
 4 

 
Company may adjust the vesting schedule set forth in the Notice of Stock Option Grant in accordance with the Company’s leave of absence policy or the terms of such leave. Except as provided
in the preceding sentence, Service shall be deemed to continue for any purpose under this Agreement while the Optionee is on a bona fide leave of absence, if (i) such leave was approved by the Company in writing and (ii) continued
crediting of Service for such purpose is expressly required by the terms of such leave or by applicable law (as determined by the Company). Service shall be deemed to terminate when such leave ends, unless the Optionee immediately returns to active
work. 
 SECTION 7. RIGHT OF REPURCHASE. 
 (a) Scope of Repurchase Right. Until they vest in accordance with the Notice of Stock Option Grant and Subsection (b) below, the Shares acquired under this Agreement 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 only 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 the Optionee’s Service, but the Right of Repurchase may be exercised automatically under Subsection (d) below. If the Right of Repurchase is
exercised, the Company shall pay the Optionee an amount equal to the lower of (i) the Exercise Price of each Restricted Share being repurchased or (ii) the Fair Market Value of such Restricted Share at the time the Right of Repurchase is
exercised. 
 (b) Lapse of Repurchase Right. The Right of Repurchase shall lapse with respect to the Restricted Shares in
accordance with the vesting schedule set forth in the Notice of Stock Option Grant. 
 (c) Escrow. Upon issuance, 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 Optionee 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 Optionee upon his or
her request to the extent that the Shares have ceased to be Restricted Shares (but not more frequently than once every six months). In any event, all Shares that have ceased to be Restricted Shares, together with any other vested assets held in
escrow under this Agreement, shall be released within 90 days after the earlier of (i) the termination of the Optionee’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 13(c) that it will not exercise its Right of Repurchase for some
or all of the Restricted Shares. The Company shall pay to the holder of the Restricted Shares the purchase price determined under Subsection (a) above for the 

  
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Restricted Shares being repurchased. Payment shall be made in cash or cash equivalents and/or by canceling indebtedness to the Company incurred by the Optionee in the purchase of the Restricted
Shares. The certificate(s) representing the Restricted Shares being repurchased shall be delivered to the Company. 
 (e)
Termination of Rights as Stockholder. If the Right of Repurchase is exercised in accordance with this Section 7 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 7, 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 Optionee 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 Optionee may transfer Restricted Shares to one or more members of the Optionee’s Immediate Family or to a trust established by the Optionee for the benefit of the Optionee and/or one or more members of the
Optionee’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 Optionee transfers any Restricted Shares, then this Agreement
shall apply to the Transferee to the same extent as to the Optionee. 
 (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 7. 

  
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 SECTION 8. RIGHT OF FIRST REFUSAL. 

(a) Right of First Refusal. In the event that the Optionee proposes to sell, pledge or otherwise transfer to a third party any
Shares acquired under this Agreement, or any interest in such Shares, the Company shall have the Right of First Refusal with respect to all (and not less than all) of such Shares. If the Optionee desires to transfer Shares acquired under this
Agreement, the Optionee shall give a written Transfer Notice to the Company describing fully the proposed transfer, including the number of 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, State or foreign securities laws. The Transfer Notice shall be signed both by the Optionee and by the proposed Transferee
and must constitute a binding commitment of both parties to the transfer of the Shares. The Company shall have the right to purchase all, and not less than all, of the 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 the date when it
received the Transfer Notice, the Optionee may, not later than 90 days following receipt of the Transfer Notice by the Company, conclude a transfer of the 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, State and foreign securities laws and not in violation of any other contractual restrictions to which the Optionee 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 Optionee, 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 Shares on the terms set forth in the Transfer Notice within 60 days after the date when 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 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 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 Shares subject
to this Section 8 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 Shares subject to this
Section 8. 

  
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 (d) Termination of Right of First Refusal. Any other provision of this
Section 8 notwithstanding, in the event that the Stock is readily tradable on an established securities market when the Optionee desires to transfer Shares, the Company shall have no Right of First Refusal, and the Optionee shall have no
obligation to comply with the procedures prescribed by Subsections (a) and (b) above. 
 (e) Permitted
Transfers. This Section 8 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 Optionee’s Immediate Family or to a trust established by
the Optionee for the benefit of the Optionee and/or one or more members of the Optionee’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 Optionee transfers any Shares acquired under this Agreement, 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 Optionee. 
 (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 8, 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 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 8. 
 SECTION 9. LEGALITY OF INITIAL ISSUANCE. 

No Shares shall be issued upon the exercise of this option unless and until the Company has determined that: 

(a) It and the Optionee have taken any actions required to register the Shares under the Securities Act or to perfect an
exemption from the registration requirements thereof; 
 (b) Any applicable listing requirement of any stock
exchange or other securities market on which Stock is listed has been satisfied; and 
 (c) Any other applicable
provision of federal, State or foreign law has been satisfied. 

  
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 SECTION 10. NO REGISTRATION RIGHTS. 

The Company may, but shall not be obligated to, register or qualify the sale of Shares under the Securities Act or any other applicable
law. The Company shall not be obligated to take any affirmative action in order to cause the sale of Shares under this Agreement to comply with any law. 
 SECTION 11. RESTRICTIONS ON TRANSFER OF SHARES. 
 (a) Securities Law
Restrictions. Regardless of whether the offering and sale of Shares subject to this option 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 such 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. 
 (b) 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 Optionee or a Transferee 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 Shares acquired under this Agreement without the prior written consent of the
Company or its managing underwriter. 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 underwriter.
In no event, however, shall such period exceed 180 days plus such additional period as may reasonably be requested by the Company or such underwriter to accommodate regulatory restrictions on (i) the publication or other distribution of
research reports or (ii) analyst recommendations and opinions, including (without limitation) the restrictions set forth in Rule 2711(f)(4) of the National Association of Securities Dealers and Rule 472(f)(4) of the New York Stock
Exchange, as amended, or any similar successor rules. 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 which 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 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 Shares acquired under this Agreement until the end of the applicable stand-off period. The Company’s underwriters shall be beneficiaries of the agreement set forth in this
Subsection (b). This Subsection (b) shall not apply to Shares registered in the public offering under the Securities Act. 

  
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 (c) Investment Intent at Grant. The Optionee represents and agrees that the Shares
to be acquired upon exercising this option will be acquired for investment, and not with a view to the sale or distribution thereof. 
 (d) Investment Intent at Exercise. In the event that the sale of Shares subject to this option is not registered under the Securities Act but an exemption is available that requires an investment
representation or other representation, the Optionee shall represent and agree at the time of exercise that the Shares being acquired upon exercising this option are being acquired for investment, and not with a view to the sale or distribution
thereof, and shall make such other representations as are deemed necessary or appropriate by the Company and its counsel. 
 (e)
Legends. All certificates evidencing Shares purchased under this Agreement shall bear the following legend: 
 “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 AND 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.” 
 All certificates evidencing Shares purchased
under this Agreement in an unregistered transaction shall bear the following legend (and such other restrictive legends as are required or deemed advisable under the provisions of any applicable law): 

“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.” 

(f) Removal of Legends. If, in the opinion of the Company and its counsel, any legend placed on a stock certificate representing
Shares sold under this Agreement is no longer required, the holder of such certificate shall be entitled to exchange such certificate for a certificate representing the same number of Shares but without such legend. 

(g) Administration. Any determination by the Company and its counsel in connection with any of the matters set forth in this
Section 11 shall be conclusive and binding on the Optionee and all other persons. 

  
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 SECTION 12. ADJUSTMENT OF SHARES. 

(a) General. In the event of a subdivision of the outstanding Stock, a declaration of a dividend payable in Shares, a combination
or consolidation of the outstanding Stock into a lesser number of Shares, a reclassification, or any other increase or decrease in the number of issued shares of Stock effected without receipt of consideration by the Company, proportionate
adjustments shall automatically be made in each of (i) the number of Shares covered by this option (to the extent the option is outstanding) and (ii) the Exercise Price (to the extent this option is outstanding). In the event of a
declaration of an extraordinary dividend payable in a form other than Shares in an amount that has a material effect on the Fair Market Value of the Stock, a recapitalization, a spin-off or a similar occurrence, the Board of Directors at its sole
discretion may make appropriate adjustments in one or more of (i) the number of Shares covered by this option or (ii) the Exercise Price; provided, however, that the Board of Directors shall in any event make such adjustments as it makes
to options outstanding under the Company’s 2005 Stock Plan. 
 (b) Mergers and Consolidations. In the event
that the Company is a party to a merger or consolidation, all Shares acquired under this option and the option shall be subject to the agreement of merger or consolidation. Such agreement shall provide for one or more of the following: 

(i) The continuation of this option by the Company (if the Company is the surviving corporation). 

(ii) The assumption of this option by the surviving corporation or its parent in a manner that complies with
Section 424(a) of the Code (whether or not this option is an ISO). 
 (iii) The substitution by the
surviving corporation or its parent of a new option for this option in a manner that complies with Section 424(a) of the Code (whether or not this option is an ISO). 

(iv) Full exercisability of this option and full vesting of the Shares subject to this option, followed by the
cancellation of this option. The full exercisability of this option and full vesting of the Shares subject to this option may be contingent on the closing of such merger or consolidation. The Optionee shall be able to exercise this option during a
period of not less than five full business days preceding the effective date of such merger or consolidation, unless (A) a shorter period is required to permit a timely closing of such merger or consolidation and (B) such shorter period
still offers the Optionee a reasonable opportunity to exercise this option. Any exercise of this option during such period may be contingent on the closing of such merger or consolidation. 

(v) The cancellation of this option and a payment to the Optionee equal to the excess of (A) the Fair Market Value of
the Shares subject to this option as of the effective date of such merger or consolidation over (B) the Exercise Price of this option. Such payment shall be made in the form of cash, 

  
 11 

 
cash equivalents, or securities of the surviving corporation or its parent with a Fair Market Value equal to the required amount. Subject to Section 409A of the Code, such payment may be
made in installments and may be deferred until the date or dates when this option would have become exercisable or such Shares would have vested. The amount of such payment initially shall be calculated without regard to whether or not this option
is then exercisable or such Shares are then vested. However, such payment may be subject to vesting based on the Optionee’s continuing Service, provided that the vesting schedule shall not be less favorable to the Optionee than the schedule
under which this option would have become exercisable or such Shares would have vested. In addition, any escrow, holdback, earnout or similar provisions in the agreement of merger or consolidation may apply to such payment to the same extent and in
the same manner as such provisions apply to the holders of Shares. If the Exercise Price of the Shares subject to this option exceeds the Fair Market Value of such Shares, then this option may be cancelled without making a payment to the Optionee.
For purposes of this Paragraph (v), the Fair Market Value of any security shall be determined without regard to any vesting conditions that may apply to such security. 
 (c) Reservation of Rights. Except as provided in this Section 12, the Optionee shall have no rights by reason of (i) any subdivision or consolidation of shares of stock of any
class, (ii) the payment of any dividend or (iii) any other increase or decrease in the number of shares of stock of any class. Any issuance by the Company of shares of stock of any class, or securities convertible into shares of stock of
any class, shall not affect, and no adjustment by reason thereof shall be made with respect to, the number or Exercise Price of Shares subject to this option. The grant of this option shall not affect in any way the right or power of the Company to
make adjustments, reclassifications, reorganizations or changes of its capital or business structure, to merge or consolidate or to dissolve, liquidate, sell or transfer all or any part of its business or assets. 

SECTION 13. MISCELLANEOUS PROVISIONS. 
 (a) Rights as a Stockholder. Neither the Optionee nor the Optionee’s representative shall have any rights as a stockholder with respect to any Shares subject to this option until the Optionee
or the Optionee’s representative becomes entitled to receive such Shares by filing a notice of exercise and paying the Purchase Price pursuant to Sections 4 and 5. 
 (b) No Retention Rights. Nothing in this option shall confer upon the Optionee 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 the Optionee) or of the Optionee, which rights are hereby expressly reserved by each, to terminate his or her Service at any time and for any reason, with or without
cause. 
 (c) 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 Optionee at the address that he or she most recently provided to the Company in accordance with this Subsection (c). 

  
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 (d) Modifications and Waivers. No provision of this Agreement shall be modified,
waived or discharged unless the modification, waiver or discharge is agreed to in writing and signed by the Optionee and by an authorized officer of the Company (other than the Optionee). No waiver by either party of any breach of, or of compliance
with, any condition or provision of this Agreement by the other party shall be considered a waiver of any other condition or provision or of the same condition or provision at another time. 

(e) Entire Agreement. The Notice of Stock Option Grant and this Agreement constitute the entire contract between the parties
hereto with regard to the subject matter hereof. They supersede any other agreements, representations or understandings (whether oral or written and whether express or implied) that relate to the subject matter hereof. 

(f) Choice of Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of Nevada, as such
laws are applied to contracts entered into and performed in such State. 
 SECTION 14. PRE-EXERCISE INFORMATION REQUIREMENT 

(a) Application of Requirement. This Section 14 shall apply only during a period that (i) commences when the
Company begins to rely on the exemption described in Rule 12h-1(f)(1) under the Exchange Act, as determined by the Company in its sole discretion, and (ii) ends on the earlier of (A) the date when the Company ceases to rely on such
exemption, as determined by the Company in its sole discretion, or (B) the date when the Company becomes subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act. In addition, this Section 14 shall in no
event apply to the Optionee after he or she has fully exercised this option. 
 (b) Scope of Requirement. The
Company shall provide to the Optionee the information described in Rule 701(e)(3), (4) and (5) under the Securities Act. Such information shall be provided at six-month intervals, and the financial statements included in such
information shall not be more than 180 days old. The foregoing notwithstanding, the Company shall not be required to provide such information unless the Optionee has agreed in writing, on a form prescribed by the Company, to keep such information
confidential. 
 SECTION 15. ACKNOWLEDGEMENTS OF THE OPTIONEE. 
 (a) Tax Consequences. The Optionee agrees that the Company does not have a duty to design or administer this option or its other compensation programs in a manner that minimizes the Optionee’s
tax liabilities. The Optionee shall not make any claim against the Company or its Board of Directors, officers or employees related to tax liabilities arising from this option or the Optionee’s other compensation. In particular, the Optionee
acknowledges that this option is exempt from Section 409A of the Code only if the Exercise Price is at least equal to the Fair Market Value per Share on the Date of Grant. Since Shares are not traded on an established securities market, the
determination of their Fair Market Value is made by the Board 

  
 13 

 
of Directors or by an independent valuation firm retained by the Company. The Optionee acknowledges that there is no guarantee in either case that the Internal Revenue Service will agree with the
valuation, and the Optionee shall not make any claim against the Company or its Board of Directors, officers or employees in the event that the Internal Revenue Service asserts that the valuation was too low. 

(b) Electronic Delivery of Documents. The Optionee agrees to accept by email all documents relating to the Company, this option
and all other documents that the Company is required to deliver to its security holders (including, without limitation, disclosures that may be required by the Securities and Exchange Commission). The Optionee also agrees that the Company may
deliver these documents by posting them on a website maintained by the Company or by a third party under contract with the Company. If the Company posts these documents on a website, it shall notify the Optionee by email of their availability. The
Optionee acknowledges that he or she may incur costs in connection with electronic delivery, including the cost of accessing the internet and printing fees, and that an interruption of internet access may interfere with his or her ability to access
the documents. This consent shall remain in effect until this option expires or until the Optionee gives the Company written notice that it should deliver paper documents. 
 (c) No Notice of Expiration Date. The Optionee agrees that the Company and its officers, employees, attorneys and agents do not have any obligation to notify him or her prior to the expiration of
this option pursuant to Section 6, regardless of whether this option will expire at the end of its full term or on an earlier date related to the termination of the Optionee’s Service. The Optionee further agrees that he or she has the
sole responsibility for monitoring the expiration of this option and for exercising this option, if at all, before it expires. This Subsection (c) shall supersede any contrary representation that may have been made, orally or in writing, by the
Company or by an officer, employee, attorney or agent of the Company. 
 SECTION 16. DEFINITIONS. 

(a) “Agreement” shall mean this Stock Option Agreement. 

(b) “Board of Directors” shall mean the Board of Directors of the Company, as constituted from time to time or, if a
Committee has been appointed, such Committee. 
 (c) “Code” shall mean the Internal Revenue Code of 1986, as
amended. 
 (d) “Committee” shall mean a committee of the Board of Directors. Each committee shall consist of
one or more members of the Board of Directors who have been appointed by the Board of Directors. Each committee shall have such authority and be responsible for such functions as the Board of Directors has assigned to it. Any reference to the Board
of Directors in this Agreement shall be construed as a reference to the Committee (if any) to whom the Board of Directors has assigned a particular function. 
 (e) “Company” shall mean Workday, Inc., a Nevada corporation. 

  
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 (f) “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. 
 (g)
“Date of Grant” shall mean the date of grant specified in the Notice of Stock Option Grant, which date shall be the later of (i) the date on which the Board of Directors resolved to grant this option or (ii) the first day
of the Optionee’s Service. 
 (h) “Disability” shall mean that the Optionee is unable to engage in any
substantial gainful activity by reason of any medically determinable physical or mental impairment. 
 (i)
“Employee” shall mean any individual who is a common-law employee of the Company, a Parent or a Subsidiary. 

(j) “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended. 

(k) “Exercise Price” shall mean the amount for which one Share may be purchased upon exercise of this option, as
specified in the Notice of Stock Option Grant. 
 (l) “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. 
 (m) “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. 
 (n) “ISO” shall mean an employee
incentive stock option described in Section 422(b) of the Code. 
 (o) “Notice of Stock Option Grant”
shall mean the document so entitled to which this Agreement is attached. 
 (p) “NSO” shall mean a stock option
not described in Section 422(b) or 423(b) of the Code. 
 (q) “Optionee” shall mean the person named
in the Notice of Stock Option Grant. 
 (r) “Outside Director” shall mean a member of the Board of Directors
who is not an Employee. 
 (s) “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.

  
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 (t) “Purchase Price” shall mean the Exercise Price multiplied by the
number of Shares with respect to which this option is being exercised. 
 (u) “Repurchase Period” shall mean a
period of 90 consecutive days commencing on the date when the Optionee’s Service terminates for any reason, including (without limitation) death or disability. 
 (v) “Restricted Share” shall mean a Share that is subject to the Right of Repurchase. 
 (w) “Right of First Refusal” shall mean the Company’s right of first refusal described in Section 8. 
 (x) “Right of Repurchase” shall mean the Company’s right of repurchase described in Section 7. 
 (y) “Securities Act” shall mean the Securities Act of 1933, as amended. 
 (z) “Service” shall mean service as an Employee, Outside Director or Consultant. 
 (aa) “Share” shall mean one share of Stock, as adjusted in accordance with Section 12 of this Agreement (if applicable). 

(bb) “Stock” shall mean the Common Stock of the Company. 

(cc) “Subsidiary” shall mean any corporation (other than the Company) in an 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.

 (dd) “Transferee” shall mean any person to whom the Optionee has directly or indirectly transferred any
Share acquired under this Agreement. 
 (ee) “Transfer Notice” shall mean the notice of a proposed transfer of
Shares described in Section 8. 

  
 16

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