Document:

exv10w23

 

Exhibit 10.23

NETWORK APPLIANCE, INC.

STOCK ISSUANCE AGREEMENT

            Network Appliance, Inc. (the “Corporation”) hereby grants you,                      (the
“Participant”), shares of Common Stock pursuant to the Stock Issuance Program under the
Corporation’s 1995 Stock Incentive Plan (the “Plan”). Subject to the provisions of Appendix A
(attached) and of the Plan, the principal features of this grant are as follows:

	 	 	 
	 

	 	Grant Date:
	 
	 	 
	 

	 	Number of Shares:
	 
	 	 
	 

	 	Purchase Price per Share:      $
	 
	 	 
	 

	 	Total Purchase Price:              $
	 
	 	 
	 

	 	Scheduled Vesting Dates:
	 
	 	 
	 

	 	Number of Shares:
	 
	 	 
	 

	 	Expiration Date:

IMPORTANT:

            Your signature below indicates your agreement and understanding that this grant is subject to
all of the terms and conditions contained in Appendix A and the Plan. For example, important
additional information on vesting and forfeiture of the Shares covered by this grant is contained
in Paragraphs 3 and 4 of Appendix A. PLEASE BE SURE TO READ ALL OF APPENDIX A, WHICH CONTAINS
THE SPECIFIC TERMS AND CONDITIONS OF THIS AGREEMENT.

	 	 	 
	NETWORK APPLIANCE, INC.

	 	EMPLOYEE
	 
	 	 
	 

Senior Vice President Human Resources
	 	 
	 

	 	 

	 
	 	 
	 

	 	Date: ____________, ___

 

 

APPENDIX A

STOCK ISSUANCE AGREEMENT

            1. Grant. The Corporation hereby grants to the Participant pursuant to the Stock
Issuance Program under the Plan the right to purchase                                 shares of Common Stock (the
“Shares”) for $                     per Share, subject to all of the terms and conditions in this Agreement
and the Plan. The Participant has until                      to make such purchase after which date the
Participant will have no further right to purchase the Shares under this Agreement.

            2. Shares Held in Escrow. Unless and until the Shares will have vested in the manner
set forth in paragraphs 3 or 4, such Shares will be issued in the name of the Participant and held
by the Secretary of the Corporation as escrow agent (the “Escrow Agent”), and will not be sold,
transferred or otherwise disposed of, and will not be pledged or otherwise hypothecated. The
Corporation may instruct the transfer agent for its Common Stock to place a legend on the
certificates representing the Shares or otherwise note its records as to the restrictions on
transfer set forth in this Agreement and the Plan. The certificate or certificates representing
such Shares will not be delivered by the Escrow Agent to the Participant unless and until the
Shares have vested and all other terms and conditions in this Agreement have been satisfied.

            3. Vesting Schedule. Except as provided in paragraph 4, and subject to paragraph 5,
                    of the Shares will vest on                      and                      of the Shares will vest                     
thereafter. Vesting actually will occur only if the Participant remains in continued Service
through the applicable vesting date.

            4. Plan Administrator Discretion. The Plan Administrator, in its discretion, may
accelerate the vesting of the balance, or some lesser portion of the balance, of the unvested
Shares at any time, subject to the terms of the Plan. If so accelerated, such Shares will be
considered as having vested as of the date specified by the Plan Administrator.

            5. Forfeiture. Notwithstanding any contrary provision of this Agreement, the balance
of the Shares that have not vested pursuant to paragraphs 3 or 4 upon the date the Participant’s
Service terminates for any reason will thereupon be forfeited and automatically transferred to and
reacquired by the Corporation at no cost to the Corporation. The Participant shall not be entitled
to a refund of the price paid for the Shares returned to the Corporation pursuant to this paragraph
5. The Participant hereby appoints the Escrow Agent with full power of substitution, as the
Participant’s true and lawful attorney-in-fact with irrevocable power and authority in the name and
on behalf of the Participant to take any action and execute all documents and instruments,
including, without limitation, stock powers which may be necessary to transfer the certificate or
certificates evidencing such unvested Shares to the Corporation upon such violation.

            6. Death of Employee. Any distribution or delivery to be made to the Participant
under this Agreement will, if the Participant is then deceased, be made to the administrator or
executor of the Participant’s estate. Any such transferee must furnish the Corporation with (a)
written notice of his or her status as transferee, and (b) evidence satisfactory to the Corporation
to establish the validity of the transfer and compliance with any laws or regulations pertaining to
said transfer.

            7. Tax Consultation. The Participant understands that the Participant may suffer
adverse tax consequences as a result of the Participant’s purchase or disposition of the Shares.
The Participant represents that the Participant has consulted or will consult with any tax advisors
the Participant deems advisable in connection with the purchase or disposition of the Shares and
that the Participant is not relying on the Corporation for any tax advice.

            8. Withholding of Taxes. Notwithstanding any contrary provision of this Agreement, no
certificate representing the Shares may be released from the escrow established pursuant to
paragraph 2 unless and until satisfactory arrangements (as determined by the Plan Administrator)
will have been made by the Participant with respect to the payment of income and employment taxes
which the Corporation determines must be withheld with respect to such Shares.

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            9. Rights as Stockholder. Neither the Participant nor any person claiming under or
through the Participant will have any of the rights or privileges of a stockholder of the
Corporation in respect of any Shares deliverable hereunder unless and until certificates
representing such Shares will have been issued, recorded on the records of the Corporation or its
transfer agents or registrars, and delivered to the Participant or the Escrow Agent. Except as
provided in paragraph 11, after such issuance, recordation and delivery, the Participant will have
all the rights of a stockholder of the Corporation with respect to voting such Shares and receipt
of dividends and distributions on such Shares.

            10. No Effect on Service. The Participant’s Service is on an at-will basis only.
Accordingly, the terms of the Participant’s Service will be determined from time to time by the
Corporation or the Parent or Subsidiary employing the Participant (as the case may be), and the
Corporation or the Parent or Subsidiary will have the right, which is hereby expressly reserved, to
terminate or change the terms of the Participant’s Service at any time for any reason whatsoever,
with or without good cause.

            11. Changes in Shares. In the event that as a result of a stock dividend, stock
split, reclassification, re-capitalization, combination of Common Stock or the adjustment in
capital stock of the Corporation or otherwise, or as a result of a merger, consolidation, spin-off
or other reorganization, the Common Stock will be increased, reduced or otherwise changed, and by
virtue of any such change the Participant will in his capacity as owner of unvested Shares which
have been awarded to him (the “Prior Shares”) be entitled to new or additional or different shares
of stock, cash or securities (other than rights or warrants to purchase securities); such new or
additional or different shares, cash or securities will thereupon be considered to be unvested
Shares and will be subject to all of the conditions and restrictions which were applicable to the
Prior Shares pursuant to this Agreement and the Plan. If the Participant receives rights or
warrants with respect to any Prior Shares, such rights or warrants may be held or exercised by the
Participant, provided that until such exercise any such rights or warrants and after such exercise
any shares or other securities acquired by the exercise of such rights or warrants will be
considered to be unvested Shares and will be subject to all of the conditions and restrictions
which were applicable to the Prior Shares pursuant to the Plan and this Agreement. The Plan
Administrator in its absolute discretion at any time may accelerate the vesting of all or any
portion of such new or additional shares of stock, cash or securities, rights or warrants to
purchase securities or shares or other securities acquired by the exercise of such rights or
warrants.

            12. Address for Notices. Any notice to be given to the Corporation under the terms of
this Agreement will be addressed to the Corporation, in care of Stock Administration, at Network
Appliance, Inc., 495 East Java Dr., Sunnyvale, CA 94089, or at such other address as the
Corporation may hereafter designate in writing.

            13. Grant is Not Transferable. Except to the limited extent provided in Paragraph 6
above, this grant and the rights and privileges conferred hereby will not be transferred, assigned,
pledged or hypothecated in any way (whether by operation of law or otherwise) and will not be
subject to sale under execution, attachment or similar process. Upon any attempt to transfer,
assign, pledge, hypothecate or otherwise dispose of this grant, or any right or privilege conferred
hereby, or upon any attempted sale under any execution, attachment or similar process, this grant
and the rights and privileges conferred hereby immediately will become null and void.

            14. Binding Agreement. Subject to the limitation on the transferability of this grant
contained herein, this Agreement will be binding upon and inure to the benefit of the heirs,
legatees, legal representatives, successors and assigns of the parties hereto.

            15. Additional Conditions to Release from Escrow. If at any time the Corporation will
determine, in its discretion, that the listing, registration or qualification of the Shares upon
any securities exchange or under any state or federal law, or the consent or approval of any
governmental regulatory authority is necessary or desirable as a condition to the release of such
Shares from the escrow established pursuant to paragraph 2, such release will not occur unless and
until such listing, registration, qualification, consent or approval will have been effected or
obtained free of any conditions not acceptable to the Corporation. The Corporation will make all
reasonable efforts to meet the requirements of any such state or federal law or securities exchange
and to obtain any such consent or approval of any such governmental authority.

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            16. Plan Governs. This Agreement is subject to all terms and provisions of the Plan.
In the event of a conflict between one or more provisions of this Agreement and one or more
provisions of the Plan, the provisions of the Plan will govern. Capitalized terms used and not
defined in this Agreement will have the meaning set forth in the Plan.

            17. Plan Administrator Authority. The Plan Administrator will have the power to
interpret the Plan and this Agreement and to adopt such rules for the administration,
interpretation and application of the Plan as are consistent therewith and to interpret or revoke
any such rules (including, but not limited to, the determination of whether or not any Shares have
vested). All actions taken and all interpretations and determinations made by the Plan
Administrator in good faith will be final and binding upon the Participant, the Corporation and all
other interested persons. No individual acting in his or her capacity as Plan Administrator will
be personally liable for any action, determination or interpretation made in good faith with
respect to the Plan or this Agreement.

            18. Captions. Captions provided herein are for convenience only and are not to serve
as a basis for interpretation or construction of this Agreement.

            19. Agreement Severable. In the event that any provision in this Agreement will be
held invalid or unenforceable, such provision will be severable from, and such invalidity or
unenforceability will not be construed to have any effect on, the remaining provisions of this
Agreement.

            20. Modifications to the Agreement. This Agreement constitutes the entire
understanding of the parties on the subjects covered. The Participant expressly warrants that the
Participant is not accepting this Agreement in reliance on any promises, representations, or
inducements other than those contained herein. Modifications to this Agreement or the Plan can be
made only in an express written contract executed by a duly authorized officer of the Corporation.

            21. Amendment, Suspension, Termination. By accepting this award, the Participant
expressly warrants that the Participant has received a right to purchase or acquire Common Stock
under the Plan, and has received, read and understood a description of the Plan. The Participant
understands that the Plan is discretionary in nature and may be modified, suspended or terminated
by the Corporation at any time.

            22. Notice of Governing Law. This option shall be governed by, and construed in
accordance with, the laws of the State of California without regard to principles of conflict of
laws.

o O o

Page 4exv10w24

 

Exhibit 10.24

NETWORK APPLIANCE, INC.

Restricted Stock Unit Agreement

     Network
Appliance, Inc. (the “Company”) hereby grants you, _________ (the “Participant”), an
award of performance units (“Performance Units”) under the Network Appliance, Inc. 1999 Stock
Option Plan (the “Plan”). Subject to the provisions of Appendix A (attached) and of the Plan, the
principal features of this award are as follows:

Grant Date:

Grant Number:

Number of Performance Units: 

Vesting Commencement Date:

Vesting of Performance Units: The Performance Units will vest according to the following
schedule:

Unless otherwise defined herein or in Appendix A, capitalized terms herein or in Appendix A will
have the defined meanings ascribed to them in the Plan.

Your signature below indicates your agreement and understanding that this award is subject to all
of the terms and conditions contained in Appendix A and the Plan. For example, important
additional information on vesting and forfeiture of the Performance Units is contained in
Paragraphs 3 through 5 of Appendix A. PLEASE BE SURE TO READ ALL OF APPENDIX A, WHICH CONTAINS THE
SPECIFIC TERMS AND CONDITIONS OF THIS AGREEMENT.

	 	 	 	 	 	 	 	 	 
	NETWORK APPLIANCE, INC.	 	 	 	EMPLOYEE	 	 
	 
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 
	Senior Vice President, Human Resources
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	Date:	 	 	,	 
	 

	 	 	 	 	 	 
	 	 

 

 

APPENDIX A

TERMS AND CONDITIONS OF PERFORMANCE UNITS

Grant #                     

     1. Grant. The Company hereby grants to the Participant
under the Plan an award of ___Performance Units, subject to all of the terms and conditions
in this Agreement and the Plan.

     2. Company’s Obligation to Pay. Each Performance Unit has a value equal to the Fair
Market Value of a share of Company common stock on the date it becomes vested. Unless and until
the Performance Units will have vested in the manner set forth in paragraphs 3 and 4, the
Participant will have no right to payment of any such Performance Units. Prior to actual payment
of any vested Performance Units, such Performance Units will represent an unsecured obligation of
the Company, payable (if at all) only from the general assets of the Company.

     3. Vesting Schedule. Subject to paragraph 4, the Performance Units awarded by this
Agreement will vest in the Participant according to the vesting schedule set forth on the attached
Performance Unit Agreement, subject to the Participant’s continuous Service through each such date.

     4. Forfeiture upon Termination of Continuous Service. Notwithstanding any contrary
provision of this Agreement, if the Participant’s continuous Service terminates for any or no
reason, the then-unvested Performance Units awarded by this Agreement will thereupon be forfeited
at no cost to the Company and the Participant will have no further rights thereunder.

     5. Payment after Vesting. Any Performance Units that vest in accordance with
paragraph 3 will be paid to the Participant (or in the event of the Participant’s death, to his or
her estate) in whole shares of Common Stock, provided that to the extent determined appropriate by
the Company, any federal, state and local withholding taxes with respect to such Performance Units
will be paid by reducing the number of shares actually paid to the Participant.

     6. Payments after Death. Any distribution or delivery to be made to the Participant
under this Agreement will, if the Participant is then deceased, be made to the Participant’s
designated beneficiary, or if no beneficiary survives the Participant, administrator or executor of
the Participant’s estate. Any such transferee must furnish the Company with (a) written notice of
his or her status as transferee, and (b) evidence satisfactory to the Company to establish the
validity of the transfer and compliance with any laws or regulations pertaining to said transfer.

     8. Withholding of Taxes. Notwithstanding any contrary provision of this Agreement, no
certificate representing the shares of Common Stock will be issued to the Participant, unless and
until satisfactory arrangements (as determined by the Plan Administrator) will have been made by
the Participant with respect to the payment of income, employment and other taxes which the Company
determines must be withheld with respect to such shares so

 

 

issuable. The Plan Administrator, in its sole discretion and pursuant to such procedures as
it may specify from time to time, may permit the Participant to satisfy such tax withholding
obligation, in whole or in part by one or more of the following: (a) paying cash, (b) electing to
have the Company withhold otherwise deliverable shares of Common Stock having a Fair Market Value
equal to the minimum amount required to be withheld, (c) delivering to the Company already vested
and owned shares of Common Stock having a Fair Market Value equal to the amount required to be
withheld, or (d) selling a sufficient number of such shares of Common Stock otherwise deliverable
to Participant through such means as the Company may determine in its sole discretion (whether
through a broker or otherwise) equal to the amount required to be withheld. If the Participant
fails to make satisfactory arrangements for the payment of any required tax withholding obligations
hereunder at the time any applicable shares of Common Stock otherwise are scheduled to vest
pursuant to Section 3, the Participant will permanently forfeit such shares and the shares will be
returned to the Company at no cost to the Company.

     9. Rights as Stockholder. Neither the Participant nor any person claiming under or
through the Participant will have any of the rights or privileges of a stockholder of the Company
in respect of any shares of Common Stock deliverable hereunder unless and until certificates
representing such shares will have been issued, recorded on the records of the Company or its
transfer agents or registrars, and delivered to the Participant.

     10. No Effect on Employment. The Participant’s employment with the Company and its
Subsidiaries is on an at-will basis only. Accordingly, the terms of the Participant’s employment
with the Company and its Subsidiaries will be determined from time to time by the Company or the
Subsidiary employing the Participant (as the case may be), and the Company or the Subsidiary will
have the right, which is hereby expressly reserved, to terminate or change the terms of the
employment of the Participant at any time for any reason whatsoever, with or without good cause.

     11. Address for Notices. Any notice to be given to the Company under the terms of
this Agreement will be addressed to the Company at 495 East Java Drive, Sunnyvale, CA 94089, Attn:
Stock Administration, or at such other address as the Company may hereafter designate in writing.

     12. Grant is Not Transferable. Except to the limited extent provided in paragraph 6,
this grant and the rights and privileges conferred hereby will not be transferred, assigned,
pledged or hypothecated in any way (whether by operation of law or otherwise) and will not be
subject to sale under execution, attachment or similar process. Upon any attempt to transfer,
assign, pledge, hypothecate or otherwise dispose of this grant, or any right or privilege conferred
hereby, or upon any attempted sale under any execution, attachment or similar process, this grant
and the rights and privileges conferred hereby immediately will become null and void.

     13. Binding Agreement. Subject to the limitation on the transferability of this grant
contained herein, this Agreement will be binding upon and inure to the benefit of the heirs,
legatees, legal representatives, successors and assigns of the parties hereto.

     14. Additional Conditions to Issuance of Stock. If at any time the Company will
determine, in its discretion, that the listing, registration or qualification of the shares of
Common Stock upon any securities exchange or under any state or federal law, or the consent or
approval of any governmental regulatory authority is necessary or desirable as a condition to the
issuance

 

 

of shares to the Participant (or his estate), such issuance will not occur unless and until
such listing, registration, qualification, consent or approval will have been effected or obtained
free of any conditions not acceptable to the Company. The Company will make all reasonable efforts
to meet the requirements of any such state or federal law or securities exchange and to obtain any
such consent or approval of any such governmental authority.

     15. Plan Governs. This Agreement is subject to all terms and provisions of the Plan.
In the event of a conflict between one or more provisions of this Agreement and one or more
provisions of the Plan, the provisions of the Plan will govern.

     16. Administrator Authority. The Administrator will have the power to interpret the
Plan and this Agreement and to adopt such rules for the administration, interpretation and
application of the Plan as are consistent therewith and to interpret or revoke any such rules
(including, but not limited to, the determination of whether or not any Performance Units have
vested). All actions taken and all interpretations and determinations made by the Plan
Administrator in good faith will be final and binding upon Participant, the Company and all other
interested persons. No member of the Plan Administrator will be personally liable for any action,
determination or interpretation made in good faith with respect to the Plan or this Agreement.

     17. Captions. Captions provided herein are for convenience only and are not to serve
as a basis for interpretation or construction of this Agreement.

     18. Agreement Severable. In the event that any provision in this Agreement will be
held invalid or unenforceable, such provision will be severable from, and such invalidity or
unenforceability will not be construed to have any effect on, the remaining provisions of this
Agreement.

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