Document:

EX-10.1

 Exhibit 10.1 
  

 
 February 1, 2014 

Mr. Kevin A. DeNuccio 
 Dear Kevin: 

Violin Memory, Inc. (the “Company”) is pleased to offer you employment on the following terms: 

1. Position. Your title will be President and Chief Executive Officer (“PCEO”), and you will report to the Company’s Board of
Directors (the “Board”). You will also be elected as a member of the Board. By signing this letter agreement, you confirm to the Company that you have no contractual commitments or other legal obligations that would prohibit you from
performing your duties for the Company. 
 2. Salary. The Company will pay you a salary at the rate of $750,000 per year, payable in
accordance with the Company’s standard payroll schedule. This salary will be subject to review by the Compensation Committee of the Board pursuant to the Company’s executive compensation policies in effect from time to time, but will not
be reduced without your consent other than a reduction that applies pro rata to all members of the Company’s senior management team. 

3. Annual Incentive Bonus. You will be eligible to be considered for an incentive bonus for each fiscal year of the Company. The bonus (if
any) for years after 2015 will be awarded based on objective or subjective criteria established by the Compensation Committee of the Board. Your target bonus will be equal to 100% of your annual base salary. Notwithstanding anything to the contrary,
your bonus for fiscal year 2015 will be equal to $750,000. The bonus for a fiscal year will be paid after the Company’s books for that year have been closed and will be paid for any fiscal year after the 2015 fiscal year only if you are
employed by the Company at the time of payment (except as provided below), and in no event later than two and one-half (2  1⁄2) months following the end of the
fiscal year. The determinations of the Compensation Committee of the Board with respect to your bonus for any fiscal year after the 2015 fiscal year will be final and binding. 

4. Signing Bonus and Buy-Out. In consideration for you accepting this offer, resigning as a member of the board of directors of certain other
companies, and foregoing the director compensation related thereto, the Company will pay you a signing bonus of $3,000,000 within five (5) business days after the commencement of your employment. If, before you complete eighteen
(18) months of continuous employment with the Company and before a “Change in Control” (as defined in the Company’s 2012 Stock Incentive Plan (the “Plan”)), your employment ends because you resign without Good Reason or
due to a termination by the Company for Cause or by reason of your death or disability (each referred to hereafter as a “Pay-back Event”), then you must return a pro rata portion of the signing bonus (on an after-tax basis) to the Company.
The pro rata portion will be equal to one minus a fraction, the numerator of which is the number of calendar days you have been employed by the Company and the denominator of which is 547.5 (hereafter referred to as the “Pro Rata Return
Portion”). For purposes of calculating the after-tax amount of the Pro Rata Return Portion under this Paragraph 4, a 50% marginal tax rate shall be utilized. 

  
 1 

 “Cause” means (a) an unauthorized use or disclosure of the Company’s confidential
information or trade secrets, which use or disclosure causes material harm to the Company, (b) an intentional and material breach of any agreement between you and the Company which causes material harm to the Company, (c) an intentional
and material failure to comply with the Company’s written policies or rules which causes material harm to the Company, (d) conviction of, or plea of “guilty” or “no contest” to, a felony under the laws of the United
States or any state thereof involving fraud or moral turpitude, (e) gross negligence or willful misconduct resulting in material harm to the Company, or (f) an intentional and continued failure to perform assigned duties after receiving
written notification of such failure from the Board and the failure to remedy such repeated failure within sixty days of such notice. For these purposes, no act or failure to act shall be considered “intentional” unless it is done, or
omitted to be done, in bad faith without reasonable belief that the action or omission was in the best interest of the Company. The foregoing, however, is not an exclusive list of all acts or omissions that the Company may consider as grounds for
discharging you without Cause. 
 5. Employee Benefits. As an executive of the Company, you will be eligible to participate in a number of
Company-sponsored benefits. In addition, you will be entitled to paid vacation in accordance with the Company’s vacation policy, as in effect from time to time, but in no event less than four (4) weeks’ paid vacation. You will also be
indemnified to the fullest extent permitted by applicable law and be covered under the Company’s directors and officers insurance policy for errors and omissions. 

6. Stock Options. You will be granted an option to purchase four million (4,000,000) shares of the Company’s Common Stock, subject
to the approval of the Board. In the Company’s sole discretion, the option may or may not be pursuant to the Plan but, in any event, will be subject to the terms and conditions of an applicable stock option agreement, except as otherwise
provided in this letter agreement, and will be granted no later than five (5) business days following your first day of employment. The exercise price per share will be equal to the closing price of the Company’s common stock on
January 31, 2014, as reported by the New York Stock Exchange. 
 The option will be immediately exercisable with respect to one million
(1,000,000) shares, but the Pro Rata Return Portion of the one million (1,000,000) shares will be subject to repurchase by the Company at the exercise price if, before you complete 18 months of continuous employment with the Company, your
employment ends due to the occurrence of a Pay-back Event. If the Company is subject to a Change in Control before your employment with the Company terminates, the Company’s right to repurchase any shares will lapse in full. 

The option will become exercisable with respect to the remaining three million (3,000,000) shares in equal monthly installments over your first
thirty-six (36) months of continuous employment with the Company. If you are subject to an Involuntary Termination, then subject to your execution and non-revocation of a Release pursuant to Section 7 the exercisable portion of the
remaining three million (3,000,000) shares will be determined by adding twelve (12) months to the actual period of employment that you have completed with the Company. If the Company is subject to a Change in Control before your employment
with the Company terminates, then your stock option will immediately be fully vested and exercisable with respect to all shares, subject to your execution of a Release pursuant to Section 7. 

  
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 “Involuntary Termination” means either (a) involuntary discharge by the Company for
reasons other than Cause or (b) voluntary resignation by you for Good Reason where Good Reason is either (i) a change in your position with the Company that materially reduces your level of authority or responsibility, (ii) you are no
longer PCEO of the Company or its parent entity (if any), (iii) a reduction in your base salary or target bonus, other than a reduction that applies pro rata to all members of the Company’s senior management team, or (iv) receipt
of notice that your principal workplace will be relocated more than thirty (30) miles. If an event occurs that you consider to be an Involuntary Termination, you agree to resign from your positions as PCEO and your position as a director of the
Company within forty-five (45) days following the occurrence of the event. You further agree that, if for any reason, you are no longer employed as the PCEO, you will resign from your position as a director of the Company. 

In addition, if your employment terminates because of an Involuntary Termination, then your entire option will remain exercisable for a period of twelve
(12) months following the date of your termination of employment. 
 7. Severance Pay. If you are subject to an Involuntary
Termination, the Company will pay you a an amount equal to the sum of (a) your base salary for a period of twelve (12) months plus (b) your target bonus for the year in which the Involuntary Termination occurs. Payment will be made in
the form of continuing compensation payments in accordance with the Company’s payroll practice, and will commence on the first day of the month following the expiration of a two (2) month period following the date of termination of your
employment, with a catch-up payment for any installments delayed pending the effectiveness of the Release (defined below). Your base salary will be based on the rate in effect at the time of the termination of your employment. If you elect to
continue your health insurance coverage under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”) following the Involuntary Termination, then the Company will pay your monthly premium under COBRA until the earliest of (a) the
close of the twelve (12)month period following the Involuntary Termination, (b) the expiration of your continuation coverage under COBRA or (c) the date when you receive substantially equivalent health insurance coverage in connection with
new employment or self-employment. However, this Paragraph 7 (and the benefits described in Section 6 that are conditioned upon a Release) will not apply unless (a) within sixty (60) days following the termination of your employment
(or such shorter period as the Company might require), you deliver a release of claims which has become irrevocable (in a form prescribed by the Company) of all known and unknown claims that the Company may then have against you or you may then have
against the Company or persons affiliated with the Company excepting for claims to indemnification or under the directors and officers insurance coverage (“Release”) and (b) you have returned all Company property. 

  
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 8. Limitation on Payments. In the event that the severance and other payments provided for in this
letter agreement or otherwise payable to you (i) constitute “parachute payments” within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”) and (ii) would be subject to the
excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then your benefits under this letter agreement shall be either: 

(a) delivered in full; or 
 (b)
delivered to such extent which would result in no portion of such benefits being subject to the Excise Tax, 
 whichever of the foregoing amounts, taking
into account the applicable federal, state and local income taxes and the Excise Tax, results in your receipt, on an after-tax basis, of the greatest amount of benefits, notwithstanding that all or some portion of such benefits may be taxable under
Section 4999 of the Code. 
 Unless the Company and you agree otherwise in writing, any determination required under this
Section 8 shall be made in writing by the Company’s independent registered public accounting firm (the “Accountants”), whose determination shall be conclusive and binding upon the Company and you for all purposes. For purposes of
making the calculations required pursuant to this Section 8, the Accountants may make reasonable assumptions and approximations concerning applicable taxes and may rely on reasonable, good faith interpretations concerning the application of
Sections 280G and 4999 of the Code. The Company and you shall furnish to the Accountants such information and documents as the Accountants reasonably may request in order to make a determination under this Section 8. The Company shall bear all
costs that the Accountants reasonably may incur in connection with any calculations contemplated by this Section 8. In the event that a reduction is required, the reduction shall be applied first to any benefits that are not subject to
Section 409A of the Code, with the benefits payable latest in time being subject first to reduction. 
 9. Section 409A; Delayed Commencement
of Benefits 
 (a) The Company and you intend that this letter agreement shall be interpreted to comply with or be exempt from Section 409A of the
Code, and the regulations and guidance promulgated thereunder to the extent applicable (collectively “Code Section 409A”), and all provisions of this letter agreement shall be construed in a manner consistent with the requirements for
avoiding taxes or penalties under Code Section 409A. If you are deemed to be a “specified employee” within the meaning of that term under Code Section 409A(a)(2)(B) on the Termination Date, then with regard to any payment or the
provision of any benefit that is considered nonqualified deferred compensation under Code Section 409A payable on account of your “separation from service” within the meaning of Code Section 409A, such payment or benefit shall be
made or provided at the date which is the earlier of (i) the expiration of the six (6)-month period measured from the Termination Date, and (ii) the date of your death (the “Delay Period”). Upon the expiration of the Delay
Period, all payments and benefits delayed pursuant to this Section 6 (whether they would have otherwise been payable in a single sum or in installments in the absence of such delay) shall be paid or reimbursed on the first business day
following the expiration of the Delay Period to you in a lump sum with interest during the Delay Period at the prime rate, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal
payment dates specified for them herein. 

  
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 (b) With regard to any provision herein that provides for reimbursement of costs and expenses or in-kind benefits
that are considered “nonqualified deferred compensation” subject to Code Section 409A, then except as permitted by Code Section 409A, (i) the right to reimbursement or in-kind benefits shall not be subject to liquidation or
exchange for another benefit, (ii) the amount of expenses eligible for reimbursement, or in-kind benefits, provided during any taxable year shall not affect the expenses eligible for reimbursement, or in-kind benefits, to be provided in
any other taxable year, provided, that, this clause (ii) shall not be violated with regard to expenses reimbursed under any arrangement covered by Code Section 105(b) solely because such expenses are subject to a limit
related to the period the arrangement is in effect and (iii) such payments in effect and (iii) such payments shall be made on or before the last day of your taxable year following the taxable year in which the expense occurred. 

(c) For purposes of Code Section 409A, your right to receive any installment payments pursuant to this Agreement shall be treated as a right to receive a
series of separate and distinct payments, and a termination of employment shall be interpreted to mean a “separation from service” within the meaning of Code Section 409A. 

9. Proprietary Information and Inventions Agreement. Like all Company employees, you will be required, as a condition of your employment with
the Company, to sign the Company’s standard Proprietary Information and Inventions Agreement, a copy of which is attached hereto as Exhibit A. 

10. Employment Relationship. Employment with the Company is for no specific period of time. Your employment with the Company will be “at
will,” meaning that either you or the Company may terminate your employment at any time and for any reason, with or without cause. Any contrary representations that may have been made to you are superseded by this offer. This is the full and
complete agreement between you and the Company on this term. Although your job duties, title, compensation and benefits, as well as the Company’s personnel policies and procedures, may change from time to time, the “at will” nature of
your employment may only be changed in an express written agreement signed by you and the Board or the Board’s designee. 
 11. Outside
Activities. While you render services to the Company, you agree that you will not engage in any other employment, consulting or other business activity (other than any outside directorships) without the prior written consent of the Company.
You agree that, following the execution of this letter agreement, you will notify the Company in writing before accepting any new position as a director of any company. You further agree that, while you render services to the Company, you will not
assist any person or entity in competing with the Company, in preparing to compete with the Company or in hiring any employees or consultants of the Company. 

12. Withholding Taxes. All forms of compensation referred to in this letter agreement are subject to reduction to reflect applicable required
withholding and payroll taxes and other deductions required by law. 

  
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 13. Professional Fees. The Company will pay for all reasonable professional fees that are
incurred in connection with the negotiation of the terms of your employment and for the preparation, review and interpretation of this letter agreement, but the amount paid will not exceed $10,000. 

14. Entire Agreement. This letter agreement supersedes and replaces any prior agreements, representations or understandings, whether written,
oral or implied, between you and the Company, and shall be interpreted as applicable, in accordance with the laws of the United States and the State of California, exclusive of conflicts of laws provisions. 

15. Arbitration. You and the Company agree to waive any rights to a trial before a judge or jury and agree to arbitrate before a neutral
arbitrator any and all claims or disputes arising out of this letter agreement and any and all claims arising from or relating to your employment with the Company, including (but not limited to) claims against any current or former employee,
director or agent of the Company, claims of wrongful termination, retaliation, discrimination, harassment, breach of contract, breach of the covenant of good faith and fair dealing, defamation, invasion of privacy, fraud, misrepresentation,
constructive discharge or failure to provide a leave of absence, or claims regarding commissions, stock options or bonuses, infliction of emotional distress or unfair business practices. 

The arbitrator’s decision must be written and must include the findings of fact and law that support the decision. The arbitrator’s decision will be
final and binding on both parties, except to the extent applicable law allows for judicial review of arbitration awards. The arbitrator may award any remedies that would otherwise be available to the parties if they were to bring the
dispute in court. The arbitration will be conducted in accordance with the National Rules for the Resolution of Employment Disputes of the American Arbitration Association; provided, however that the arbitrator must allow the discovery authorized by
the California Arbitration Act or the discovery that the arbitrator deems necessary for the parties to vindicate their respective claims or defenses. The arbitration will take place in Santa Clara County or, at your option, the county in which you
primarily worked with the Company at the time when the arbitrable dispute or claim first arose. 
 You and the Company will share the costs of arbitration
equally, except that the Company will bear the cost of the arbitrator’s fee and any other type of expense or cost that you would not be required to bear if you were to bring the dispute or claim in court. Both the Company and you will be
responsible for their own attorneys’ fees, and the arbitrator may not award attorneys’ fees unless a statute or contract at issue specifically authorizes such an award. 

This arbitration provision does not apply to (a) workers’ compensation or unemployment insurance claims or (b) claims concerning the validity,
infringement or enforceability of any trade secret, patent right, copyright or any other trade secret or intellectual property held or sought by either you or the Company (whether or not arising under the Proprietary Information and Inventions
Agreement between you and the Company) or (c) claims for indemnification or under the directors and officers insurance policy. 

  
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 If an arbitrator or court of competent jurisdiction (the “Neutral”) determines that any provision of
this arbitration provision is illegal or unenforceable, then the Neutral shall modify or replace the language of this arbitration provision with a valid and enforceable provision, but only to the minimum extent necessary to render this arbitration
provision legal and enforceable. 
 ***** 
 We
hope that you will accept our offer to join the Company. You may indicate your agreement with these terms and accept this offer by signing and dating both the enclosed duplicate original of this letter agreement and the enclosed Proprietary
Information and Inventions Agreement and returning them to me. As required by law, your employment with the Company is contingent upon your providing legal proof of your identity and authorization to work in the United States. Your employment is
also contingent upon your starting work with the Company on or before Monday, February 3, 2014. This offer letter is subject to approval by the Board of Directors, to be obtained on or before Monday, February 3, 2014. 

[Remainder of This Page Intentionally Left Blank] 

  
 7 

							
		  		  	Very truly yours,
			
		  		  	Violin Memory, Inc.
				
		  		  	By:	 	 /s/ Howard A. Bain III

		  		  	 Howard A. Bain III
 Chairman of
the Board of Directors

				
	I have read and accept this employment offer:	  		  		 	
			
		  		  	February 1, 2014
				
	 /s/ Kevin A. DeNuccio
	  		  		 	
	Signature of Kevin A. DeNuccio	  		  		 	
				
	Attachment	  		  		 	
	Exhibit A: Proprietary Information and Inventions Agreement	  		  		 	

  
 8EX-10.2

 Exhibit 10.2 

VIOLIN MEMORY, INC. 

NOTICE OF STOCK OPTION GRANT 

(EARLY EXERCISE) 
 Violin
Memory, Inc. (the “Company”) hereby grants an option (“Option”) to purchase shares (the “Shares”) of its common stock (the “Stock”) to the optionee named below (“Optionee” or “you”) on the
terms and conditions set forth in this Notice of Stock Option Grant. The Option is granted outside of any plan of the Company and is made as an inducement to the Optionee to accept new employment with the Company in accordance with the terms and
conditions of an offer letter dated February 1, 2014 (the “Offer Letter”): 
  

			
	Name of Optionee:	 	Kevin A. DeNuccio
		
	Total Number of Option Shares Granted:	 	1,000,000
		
	Type of Option:	 	Non-Qualified Stock Option
		
	Exercise Price Per Share:	 	$3.78
		
	Grant Date:	 	February 3, 2014
		
	Vesting Commencement Date:	 	February 3, 2014
		
	Vesting Schedule:	 	 The Option will vest in daily installments over 18 months following the Vesting Commencement Date, subject to Optionee continuing to be an
employee of the Company through each such date, such that all Shares subject to the Option shall have completely vested on the 18 month anniversary of the Vesting Commencement Date.

 
 Notwithstanding the preceding sentence, in the event Optionee’s employment is
terminated pursuant to an Involuntary Termination (as defined in the Offer Letter), or the Company is subject to a Change in Control (as defined in the Offer Letter) before Optionee’s employment with the Company terminates, then subject to
Optionee’s execution and nonrevocation of a release (in accordance with the requirements described in the Offer Letter), the vesting of the Option will accelerate immediately with respect to all of the Shares subject to the
Option.

		
	Expiration Date:	 	One day prior to the tenth anniversary of the Grant Date. This Option expires earlier if Optionee’s Service terminates earlier, as described in the Stock Option Agreement.

 By your signature and the signature of the Company’s representative below, you and the Company agree
that this Option is granted under and governed by the term and conditions of the Stock Option Agreement (the “Agreement”), attached hereto as Appendix A and made a part of this document. 

  
 VIOLIN
MEMORY, INC. 
 NOTICE OF STOCK OPTION
GRANT 
 - 1 - 

 By signing this document you further agree that the Company may deliver by e-mail all
documents relating to this Award (including without limitation, prospectuses required by the Securities and Exchange Commission) and all other documents that the Company is required to deliver to its security holders (including without limitation,
annual reports and proxy statements). You also agree 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 will notify you by e-mail. 
  

							
	KEVIN A. DENUCCIO:	  		  	VIOLIN MEMORY, INC.
				
	  
	  		  	By:	 	  

	  Signature	  		  		 	
				
	  
	  		  	Title:	 	  

	  Kevin A. DeNuccio	  		  		 	

  
 VIOLIN
MEMORY, INC. 
 NOTICE OF STOCK OPTION
GRANT 
 - 2 - 

 APPENDIX A 

STOCK OPTION AGREEMENT 
  

	 Grant of Option 
	The Company hereby grants to Optionee an Option to purchase the number of Shares specified in the Notice of Stock Option Grant, subject to all of the terms and conditions in this Agreement. 

 

	 	This Option is not intended to qualify as an incentive stock option under Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”), and will be treated as a non-qualified stock option.

  

	 Vesting 
	This Option becomes exercisable in installments, as shown in the Notice of Stock Option Grant. This Option will in no event become exercisable for additional Shares after Optionee’s termination of employment with the Company for any reason.

  

	 Early Exercise 
	This Option may be exercised before it is vested. To the extent it is exercised prior to vesting, the Shares acquired on exercise, together with any securities issued as a dividend or other distribution on, in exchange for or upon the conversion
of such unvested Shares, pursuant to a merger, recapitalization or otherwise (collectively, the “Subject Shares”), will be subject to a repurchase right which shall lapse according to the same vesting schedule applicable had the Option not
been exercised. The repurchase right allows the Company (or its successor) to repurchase the unvested Shares upon Optionee’s termination of employment for the lower of (i) the exercise price per Share paid by Optionee for such Shares (as
appropriately adjusted to reflect stock splits, stock dividends, combinations of equity and other recapitalizations affecting the capital stock of the Company) and (ii) the Fair Market Value per Share (defined below) on the repurchase date. The
repurchase price shall be paid, at the option of the Company, by cancellation of all or a portion of outstanding indebtedness, if any, or in cash or both. 

  

	 	The Company will be deemed to have exercised its repurchase right automatically for all Subject Shares as of the employment termination date, unless within ninety (90) days thereafter, the Company notifies the
holder of the Subject Shares that it will not exercise its repurchase rights as to some or all of the Subject Shares. 

  

	 	If the Company makes available the consideration for the unvested Shares to be repurchased in accordance with the provisions of this Agreement, then from and after such time the person from whom such Shares are to be
repurchased 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 repurchased in accordance with the
applicable provisions hereof, whether or not certificate(s) therefor have been delivered. 

  

	 	 The Company will be entitled to receive customary representations and 

  
 VIOLIN
MEMORY, INC. 
 STOCK OPTION AGREEMENT 

- 1 - 

	 	 
warranties from Optionee regarding the Stock being repurchased including, but not limited to, the representation that Optionee has good and marketable title to the Stock to be repurchased free
and clear of all liens, claims and other encumbrances. 

  

	 	All repurchases shall be subject to applicable restrictions contained in the Delaware General Corporation Law and in the Company’s and its Subsidiaries’ debt financing agreements. If any such restrictions
prohibit the repurchase of Stock for cash, the Company shall have the right to deliver, as payment of the repurchase price, a subordinated note or notes payable in up to five equal annual installments beginning on the first anniversary of the
repurchase closing and bearing an annual interest rate compounded annually equal to the applicable federal rate then in effect (provided that such notes shall accelerate and be payable in full once the Company is permitted to repurchase the Stock or
repay such notes under the debt financing agreements or, if earlier, upon a sale of the Company. Any such notes issued by the Company shall be subject to any restrictive covenants in debt financing agreements to which the Company is subject at the
time of the repurchase closing. If any such restrictions prohibit the repurchase of Stock for such subordinated notes, then the time periods provided herein for repurchases shall be suspended, and the Company may make such repurchases as soon as it
is permitted to do so under such restrictions. 

  

	 	Pending the lapse of its repurchase rights, the Company may hold the Subject Shares (including any certificates evidencing the Shares) in escrow or deposit the Subject Shares with an escrow agent designated by the
Company. 

  

	 	If Optionee exercises this Option before it is vested, Optionee should consider making an election under Section 83(b) of the Internal Revenue Code (the “83(b) Election”). The 83(b) Election must be filed
within thirty (30) days after the date of exercise of all or any portion of the Option which is not vested. 

  

	 	OPTIONEE SHOULD CONSULT A TAX AND/OR FINANCIAL ADVISOR BEFORE EXERCISING PRIOR TO VESTING. 

  

	 Term 
	This Option expires in any event at the close of business at Company headquarters on the day before the 10th anniversary of the Grant Date, as shown on the Notice of Stock Option Grant. This Option may expire earlier, as described below.

  

	 Termination of Relationship as Service Provider 
	 Notwithstanding any contrary provision of this Agreement, if Optionee ceases to be an employee of the Company for any or no reason, the then-unvested portion of the Option awarded by this
Agreement will terminate and Optionee will have no further rights thereunder. The Optionee will have the period described below to exercise the Option to the extent vested as of the date Optionee ceases to be an employee of the Company. This Option
may be exercised only within the following periods, as 

  
 VIOLIN
MEMORY, INC. 
 STOCK OPTION AGREEMENT 

- 2 - 

	 	 
applicable (but in no event may the Option be exercised later than the expiration of the term of the Option as set forth in the Notice of Stock Option Grant) and may be exercised during such
periods, as applicable, only in accordance with the terms of this Agreement. To the extent not exercised within such periods, the Option will terminate and Optionee will have no further rights thereunder. 

 

	 	“Service” means service as an employee, director or consultant of the Company or its Parent or Subsidiary, as defined for purposes of this Agreement in Sections 424 (e) and (f), respectively, of the
Code, whether now or hereafter existing. A termination of Service will not be deemed to occur upon transfers between the Company, its Parent or any Subsidiary. The Company determines when Service terminates for all purposes under the Agreement
and its determinations are conclusive and binding on all persons. 

  

	 Regular Termination 
	If Service terminates for any reason except death, total and permanent disability as defined in Section 22(e)(3) of the Code (“Disability”), or Involuntary Termination, then this Option will expire at the close of business at
Company headquarters on the date three (3) months after the date Service terminates (or, if earlier, the Expiration Date). 

  

	 Involuntary Termination 
	If employment terminates because of an Involuntary Termination, then this Option will expire at the close of business at Company headquarters on the date 12 months after the date Service terminates (or, if earlier, the Expiration Date).

  

	 Death 
	If Service terminates because of death, then this Option will expire at the close of business at Company headquarters on the date 12 months after the date Service terminates (or, if earlier, the Expiration Date). During that period of up to 12
months, the Option may be exercised by the personal representative of Optionee’s estate or by the person(s) to whom the Option is transferred pursuant to Optionee’s will or in accordance with the laws of descent and distribution.

  

	 Disability 
	If Service terminates because of Disability, then this Option will expire at the close of business at Company headquarters on the date 12 months after the date Service terminates (or, if earlier, the Expiration Date). 

 

	 Leaves of Absence 
	For purposes of the Option, Service does not terminate when upon a military leave, a sick leave or another bona fide leave of absence, if the leave was approved by the Company in writing and if continued crediting of Service is required
by the terms of the leave or by applicable law. Service terminates when the approved leave ends, unless Optionee immediately returns to active work. 

  

	 	 The vesting schedule specified in the Notice of Stock Option Grant may be adjusted during a leave of absence in accordance with the Company’s leave of absence
policy or the terms of the leave. If Optionee commences working on a part-time basis, then the vesting schedule specified in the 

  
 VIOLIN
MEMORY, INC. 
 STOCK OPTION AGREEMENT 

- 3 - 

	 	 
Notice of Stock Option Grant may be adjusted in accordance with the Company’s part-time work policy or the terms of an agreement between Optionee and the Company pertaining to the part-time
schedule. 

  

	 Restrictions on Exercise 
	If at any time the Company shall determine, in its discretion, that the listing, registration or qualification of the Shares upon any securities exchange or under any applicable law, or the consent or approval of any governmental regulatory
authority, is necessary or desirable as a condition of the purchase of Shares hereunder, this Option may not be exercised, in whole or in part, unless and until such listing, registration, qualification, consent or approval shall have been effected
or obtained free of any conditions not acceptable to the Company. The Company shall make reasonable efforts to meet the requirements of any applicable law or securities exchange and to obtain any required consent or approval of any governmental
authority. The inability of the Company to obtain authority from any regulatory body having jurisdiction, which authority is deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any Shares hereunder, will relieve
the Company of any liability in respect of the failure to issue or sell such Shares as to which such requisite authority will not have been obtained. As a condition to the exercise of the Option, the Company may require the person exercising the
Option to represent and warrant at the time of any such exercise that the Shares are being purchased only for investment and without any present intention to sell or distribute such Shares if, in the opinion of counsel for the Company, such a
representation is required 

  

	 Notice of Exercise 
	To exercise this Option, Optionee must provide a notice of exercise form in accordance with such procedures as are established by the Company and communicated to Optionee from time to time. Any notice of exercise must specify how many Shares
Optionee wishes to purchase and how the Shares should be registered. The notice of exercise will be effective when it is received by the Company, accompanied by payment of the aggregate exercise price as to all exercised Shares together with any
applicable withholding taxes. If someone else wants to exercise this Option after Optionee’s death, that person must prove to the Company’s satisfaction that he or she is entitled to do so. 

 

	 Form of Payment 
	When Optionee submits the notice of exercise, the notice must include payment of the Option exercise price for the Shares to be purchased. Payment may be made in the following form(s): 

 

	 	•	 	Personal check, a cashier’s check or a money order. 

  
 VIOLIN
MEMORY, INC. 
 STOCK OPTION AGREEMENT 

- 4 - 

	 	•	 	Certificates for Shares that Optionee owns, along with any forms needed to effect a transfer of those Shares to the Company. The value of the Shares, determined as of the effective date of the Option exercise, will be
applied to the Option exercise price. Instead of surrendering Shares, Optionee may attest to the ownership of those Shares on a form provided by the Company and have the same number of Shares subtracted from the Shares to be issued upon exercise of
the Option. However, Optionee may not surrender or attest to the ownership of Shares in payment of the exercise price if such action would cause the Company to recognize a compensation expense (or additional compensation expense) with respect to
this Option for financial reporting purposes. 

  

	 	•	 	By delivery on a form approved by the Company of an irrevocable direction to a securities broker approved by the Company to sell all or part of the Shares that are issued upon exercise this Option and to deliver to the
Company from the sale proceeds an amount sufficient to pay the Option exercise price and any withholding taxes. The balance of the sale proceeds, if any, will be delivered to Optionee. The directions must be given by providing a notice of exercise
form approved by the Company. 

  

	 	•	 	If permitted by the Committee, by a “net exercise” arrangement pursuant to which the number of Shares issuable upon exercise of the Option shall be reduced by the largest whole number of Shares having an
aggregate Fair Market Value that does not exceed the aggregate exercise price (plus tax withholdings, if applicable) and any remaining balance of the aggregate exercise price (and/or applicable tax withholdings) not satisfied by such reduction in
the number of whole Shares to be issued shall be paid by Optionee in cash other form of payment permitted under this Option. The directions must be given by providing a notice of exercise form approved by the Company. 

 

	 	•	 	Any other form permitted by the Committee in its sole discretion. 

  

	 	Notwithstanding the foregoing, payment may not be made in any form that is unlawful, as determined by the Committee in its sole discretion. 

 

	 Fair Market Value 
	For purposes of this Agreement, “Fair Market Value” with respect to a Share means the market price of one Share, determined by the Committee as follows: 

 

	 	•	 	If the Stock was traded over-the-counter on the date in question, then the Fair Market Value shall be equal to the last transaction price quoted for such date by the OTC Bulletin Board or, if not so quoted, shall be
equal to the mean between the last reported representative bid and asked prices quoted for such date by the principal automated inter-dealer quotation system on which the Stock is quoted or, if the Stock is not quoted on any such system, by the Pink
Quote system; 

  
 VIOLIN
MEMORY, INC. 
 STOCK OPTION AGREEMENT 

- 5 - 

	 	•	 	If the Stock was traded on any established stock exchange (such as the New York Stock Exchange, The Nasdaq Global Market or The Nasdaq Global Select Market) or national market system on the date in question, then the
Fair Market Value shall be equal to the closing price reported for such date by the applicable exchange or system; and 

  

	 	•	 	If none of the foregoing provisions is applicable, then the Fair Market Value shall be determined by the Committee in good faith on such basis as it deems appropriate. 

 

	 	•	 	In all cases, the determination of Fair Market Value by the Committee shall be conclusive and binding on all persons. 

  

	 Withholding Taxes and Stock Withholding 
	Regardless of any action the Company or Optionee’s actual employer (the “Employer”) takes with respect to any or all income tax, social insurance, payroll tax, payment on account or other tax-related withholding (“Tax-Related
Items”), Optionee acknowledges that the ultimate liability for all Tax-Related Items legally due by Optionee is and remains the responsibility of Optionee and that the Company and/or the Employer (1) make no representations or undertakings
regarding the treatment of any Tax-Related Items in connection with any aspect of the Option grant, including the grant, vesting or exercise of the Option, the subsequent sale of Shares acquired pursuant to such exercise and the receipt of any
dividends; and (2) do not commit to structure the terms of the grant or any aspect of the Option to reduce or eliminate Optionee’s liability for Tax-Related Items. 

 

	 	 Prior to exercise of the Option, Optionee shall pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all withholding and
payment on account obligations of the Company and/or the Employer. In this regard, Optionee authorizes the Company and/or the Employer to withhold all applicable Tax-Related Items legally payable by Optionee from Optionee’s wages or other cash
compensation paid to Optionee by the Company and/or the Employer. With the Company’s consent, these arrangements may also include, if permissible under local law, (a) withholding Shares that otherwise would be issued to Optionee upon
exercise of this Option, provided that the Company only withholds the amount of Shares necessary to satisfy the minimum statutory withholding amount, (b) having the Company withhold taxes from the proceeds of the sale of the Shares, either
through a voluntary sale or through a mandatory sale arranged by the Company (on Optionee’s behalf pursuant to this authorization), or (c) any other arrangement approved by the Company. The Fair Market Value of these Shares, determined as
of the effective date of the Option exercise, will be applied as a credit against the withholding taxes. Finally, Optionee shall pay to 

  
 VIOLIN
MEMORY, INC. 
 STOCK OPTION AGREEMENT 

- 6 - 

	 	 
the Company or the Employer any amount of Tax-Related Items that the Company or the Employer may be required to withhold as a result of the grant of the Option or Optionee’s purchase of
Shares that cannot be satisfied by the means previously described. The Company may refuse to honor the exercise and refuse to deliver the Shares if Optionee fails to comply with Optionee’s obligations in connection with the Tax-Related Items as
described in this section. 

  

	 Restrictions on Resale 
	Optionee agrees not to sell any Shares at a time when applicable laws, Company policies or an agreement between the Company and its underwriters prohibit a sale. This restriction will apply as long as Optionee’s Service continues and for
such period of time after the termination of Optionee’s Service as the Company may specify. 

  

	 Transfer of Option 
	Except to the limited extent permitted in the event of the Optionee’s death, 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. 

 

	 	Notwithstanding the foregoing, the Committee may, in its sole discretion, allow Optionee to transfer this Option as a gift to one or more family members. For purposes of this Agreement, “family member” means a
child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law (including adoptive relationships), any
individual sharing Optionee’s household (other than a tenant or employee), a trust in which one or more of these individuals have more than 50% of the beneficial interest, a foundation in which Optionee or one or more of these persons control
the management of assets, and any entity in which Optionee or one or more of these persons own more than 50% of the voting interest. 

  

	 	In addition, the Committee may, in its sole discretion, allow Optionee to transfer the Option to Optionee’s spouse or former spouse pursuant to a domestic relations order in settlement of marital property rights.

  

	 	The Committee will allow the transfer the Option only if both Optionee and the transferee(s) execute the forms prescribed by the Committee, which include the consent of the transferee(s) to be bound by this Agreement.

  
 VIOLIN
MEMORY, INC. 
 STOCK OPTION AGREEMENT 

- 7 - 

	 	In addition, notwithstanding anything herein to the contrary, Optionee may not transfer, assign, pledge, hypothecate or otherwise dispose of any Subject Shares, and any attempted disposition will be null and void;
provided, however, that the Committee may, in its sole discretion, allow Optionee to transfer Subject Shares as a gift to one or more family members, provided both Optionee and the transferee(s) execute the forms prescribed by the Committee, which
include the consent of the transferee(s) to be bound by this Agreement. 

  

	 Retention Rights 
	Neither the Option nor this Agreement gives Optionee the right to be employed or retained by the Company or any subsidiary of the Company in any capacity. The Company and its subsidiaries reserve the right to terminate Optionee’s Service at
any time, with or without cause. 

  

	 Shareholder Rights 
	Neither Optionee nor any person claiming under or through Optionee will have any of the rights or privileges of a stockholder of the Company in respect of any Shares deliverable hereunder unless and until certificates representing such Shares
have been issued and delivered to the Optionee or registered in book-entry form, and recorded on the records of the Company or its transfer agents or registrars. 

 

	 Administration 
	The Compensation Committee of the Board of Directors of the Company (the “Committee”) will have the power to interpret this Agreement and to adopt such rules for the administration, interpretation and application of this Agreement as
are consistent therewith and to interpret or revoke any such rules (including, but not limited to, the determination of whether or not and to what extent the Option has vested). All actions taken and all interpretations and determinations made by
the Committee in good faith will be final and binding upon Optionee, the Company and all other interested persons. No member of the Committee will be personally liable for any action, determination or interpretation made in good faith with respect
to this Agreement. 

  

	 Adjustment of Shares 
	In the event of a subdivision of the outstanding Stock, a declaration of a dividend payable in Shares, a declaration of a dividend payable in a form other than Shares in an amount that has a material effect on the price of Shares, a combination
or consolidation of the outstanding Stock (by reclassification or otherwise) into a lesser number of Shares, a recapitalization, a spin-off or a similar occurrence, the Committee shall make appropriate and equitable adjustments in the number of
Shares covered by this Option and the exercise price per Share (including the repurchase price per Share in respect of unvested Shares acquired on an early exercise of the Option). 

 

	 	To the extent not previously exercised or settled, the Option shall terminate immediately prior to the dissolution or liquidation of the Company. 

  
 VIOLIN
MEMORY, INC. 
 STOCK OPTION AGREEMENT 

- 8 - 

	 	In the event that the Company is a party to a merger or other reorganization, the Option shall be subject to the agreement of merger or reorganization. Subject to compliance with Section 409A of the Code, such
agreement shall provide for: 

  

	 	(i) The continuation of the outstanding Option by the Company, if the Company is a surviving corporation; 

  

	 	(ii) The assumption of the outstanding Option by the surviving corporation or its parent or subsidiary; 

  

	 	(iii) The substitution by the surviving corporation or its parent or subsidiary of its own awards for the outstanding Option; 

  

	 	(iv) Immediate vesting, exercisability and settlement of the outstanding Option followed by the cancellation of such Option upon or immediately prior to the effectiveness of such transaction; or 

 

	 	(v) Settlement of the intrinsic value of the outstanding Option (whether or not then vested or exercisable) in cash or cash equivalents or equity (including cash or equity subject to deferred vesting and delivery
consistent with the vesting restrictions applicable to the Option or the underlying Shares) followed by the cancellation of the Option (and, for the avoidance of doubt, if as of the date of the occurrence of the transaction the Committee determines
in good faith that no amount would have been attained upon the exercise of the Option, then the Option may be terminated by the Company without payment); in each case without Optionee’s consent. Any acceleration of payment of an amount that is
subject to Section 409A of the Code will be delayed, if necessary, until the earliest time that such payment would be permissible under Section 409A without triggering any additional taxes applicable under Section 409A.

  

	 Successors and Assigns 
	Except as otherwise provided in this Agreement, every term of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, legatees, legal representatives, successors, transferees and assigns.

  

	 Notice 
	Any notice to be given to the Company under the terms of this Agreement will be addressed to the Company, in care of its Stock Plan Administrator at Violin Memory, Inc., 4555 Great America Parkway Santa Clara, CA 95054, or at such other
address as the Company may hereafter designate in writing. Any notice required or permitted under this Agreement shall be given in writing and shall be deemed effectively given upon the earliest of personal delivery, receipt or the third full day
following mailing with postage and fees prepaid. 

  

	 Applicable Law 
	This Agreement will be interpreted and enforced under the laws of the State of California (without regard to their choice-of-law provisions). 

  

	 Miscellaneous 
	 This Agreement constitutes the entire understanding between Optionee and the Company regarding this Option. Any prior agreements, commitments or negotiations concerning this Option are
superseded. In the event of a conflict between one or more provisions of this Agreement and one or more provisions of the Offer Letter, the provisions of this 

  
 VIOLIN
MEMORY, INC. 
 STOCK OPTION AGREEMENT 

- 9 - 

	 	 
Agreement will govern. 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. This Agreement may be amended by the Committee without Optionee’s consent; however, if any such amendment would materially impair Optionee’s rights or
obligations under the Agreement, this Agreement may be amended only by another written agreement, signed by Optionee and the Company. 

  

	 Data Privacy 
	You consent to the collection, use and transfer of personal data as described in this subsection. You understand and acknowledge that the Company, your employer and the Company’s other Subsidiaries hold certain personal information
regarding you for the purpose of managing and administering the Option, including (without limitation) your name, home address, telephone number, date of birth, social insurance number, salary, nationality, job title, any Shares or directorships
held in the Company and details of all options or any other entitlements to Shares awarded, canceled, exercised, vested, unvested or outstanding in the your favor (the “Data”). You further understand and acknowledge that the Company and/or
its Subsidiaries will transfer Data among themselves as necessary for the purpose of implementation, administration and management of the Option and that the Company and/or any Subsidiary may each further transfer Data to any third party assisting
the Company in the implementation, administration and management of the Option. You understand and acknowledge that the recipients of Data may be located in the United States or elsewhere. You authorize such recipients to receive, possess, use,
retain and transfer Data, in electronic or other form, for the purpose of administering your Option, including a transfer to any broker or other third party with whom you elect to deposit Shares acquired under the Option of such Data as may be
required for the administration of the Option and/or the subsequent holding of Shares on your behalf. You may, at any time, view the Data, require any necessary modifications of Data or withdraw the consents set forth in this subsection by
contacting the Human Resources Department of the Company in writing. 

 BY SIGNING THE NOTICE OF STOCK OPTION GRANT
TO WHICH THIS AGREEMENT IS AN APPENDIX, YOU AGREE TO ALL OF THE TERMS AND CONDITIONS DESCRIBED ABOVE. 

  
 VIOLIN
MEMORY, INC. 
 STOCK OPTION AGREEMENT 

- 10 - 

 VIOLIN MEMORY, INC. 

NOTICE OF CASH EXERCISE OF STOCK OPTION 
  

									
	 OPTIONEE INFORMATION:

					
	 Name:
	 	  
	  		  	Social Security Number:	 	  

					
	 Address:
	 	  
	  		  	Employee Number:	 	  

			
	 OPTION INFORMATION:
	  		  	
				
	 Date of Grant:
	 	                    ,20    	  		  	Type of Stock Option:
	 Exercise Price per Share:
$                    
	  		  	 ̈       Nonstatutory (NSO)
	Total number of Shares of VIOLIN MEMORY, INC. (the “Company”) covered by option:             	  		  	 ̈	 	

 I. Number of Shares of the Company for which option is being exercised now:
         (“Purchased Shares”). Total exercise price for the Purchased Shares:
$                     
 Form of
payment enclosed: 
  

	 ̈	Check for $            , payable to “VIOLIN MEMORY, INC.” 

II. Name(s) in which the Purchased Shares should be registered: 
  

                       
                                         
                                  

 
  

			
	III. The certificate for the Purchased Shares should be sent to the following address:	  	 IV.
                                         
                                         
  
  

                    
                                         
                              

 

                    
                                         
                              

 

                    
                                         
                              

 V. ACKNOWLEDGMENTS: 
  

	1.	I understand that all sales of Purchased Shares are subject to compliance with the Company’s policy on securities trades. 

  

	2.	I hereby acknowledge that I received and read a copy of the prospectus describing the option and the tax consequences of an exercise. 

 

	3.	I understand that I must recognize ordinary income equal to the spread between the fair market value of the Purchased Shares on the date of exercise and the exercise price. I further understand that I am required to pay
withholding taxes at the time of exercising the option. 

 SIGNATURE AND DATE: 

                         
                                         
                                         
                                     ,
20     

 VIOLIN MEMORY, INC. 

ASSIGNMENT SEPARATE FROM CERTIFICATE 

FOR VALUE RECEIVED, [Name of Optionee] sells, assigns and transfers to Violin Memory, Inc. (the “Company”) or its assignee [print
the number of shares] ([# of shares]) shares of the Common Stock of the Company (the “Shares”), standing in his or her name on the books of the Company (represented by Certificate No.
            ) and irrevocably constitutes and appoints [Name/Title of Escrow Agent] as Attorney to transfer the Shares on the books of the Company with full power of substitution in
the premises. 
 Dated:
                    ,         . 

 

	
	[NAME OF OPTIONEE]
	
	  

	(Signature)

 Spousal Consent (if applicable) 

                    
(Purchaser’s spouse) indicates by the execution of this Assignment his or her consent to be bound by the terms herein as to his or her interests, whether as community property or otherwise, if any, in the Shares. 

Printed Name 

Signature 

INSTRUCTIONS: YOU MUST SIGN THIS FORM IF YOU ARE EXERCISING PRIOR TO VESTING (“EARLY EXERCISE”). IF YOU ARE NOT EARLY EXERCISING, DO NOT
COMPLETE THIS FORM. PLEASE DO NOT FILL IN ANY BLANKS OTHER THAN THE SIGNATURE LINE. THE PURPOSE OF THIS ASSIGNMENT IS TO ENABLE THE COMPANY TO EXERCISE ITS “REPURCHASE RIGHT” SET FORTH IN THE STOCK OPTION AGREEMENT WITHOUT REQUIRING
ADDITIONAL SIGNATURES.

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