Document:

1987 Stock Option Plan of the Company, as amended

 Exhibit 10.18 
 IOMEGA CORPORATION 
  
 1987 STOCK
OPTION PLAN 
 (as amended through May 25, 2004) 
  
 1. Purpose. 
  
 The purpose of this plan (the “Plan”) is to secure for Iomega Corporation (the “Company”) and its shareholders the benefits arising
from capital stock ownership by key employees, directors and consultants of the Company and its parent and subsidiary corporations who are expected to contribute to the Company’s future growth and success. 
  
 2. Type of Options and Administration. 
  
 (a) Types of Options. Options granted pursuant to the Plan shall be
authorized by action of the Board of Directors of the Company (or a Committee designated by the Board of Directors) and may be either incentive stock options intended to meet the requirements of Section 422A of the Internal Revenue Code of 1986, as
amended (the “Code”) or nonstatutory stock options which are not intended to meet the requirements of such Section 422A 
  
 (b) Administration. Subject to the provisions of paragraph (c) of this section, the Plan will be administered by the Board of Directors of the Company
whose construction and interpretation of the terms and provisions of the Plan shall be final and conclusive. Except as limited below, the Board of Directors may, in its sole discretion, grant options to purchase shares of the Company’s Common
Stock and issue shares upon exercise of such options as provided in the Plan. The Board shall have authority, subject to the express provisions of the Plan, to construe the respective option agreements and the Plan, to prescribe, amend and rescind
rules and regulations relating to the Plan, to determine the terms and provisions of the respective option agreements, which need not be identical, and to make all other determinations in the judgment of the Board necessary or desirable for the
administration of the Plan. The Board may correct any defect or supply any omission or reconcile any inconsistency in the Plan or in any option agreement in the manner and to the extent it shall deem expedient to carry the Plan into effect, and it
shall be the sole and final judge of such expediency. No director or person acting pursuant to authority delegated by the Board shall be liable for any action or determination made in good faith. The Board of Directors may, to the full extent
permitted by or consistent with applicable laws or regulations (including, without limitation, applicable state law and Rule 16b-3 promulgated under the Securities Exchange Act of 1934 (or any successor rule)), delegate any or all of its powers
under the Plan to a committee (the “Committee”) appointed by the Board consisting of at least two members of the Board, and if the Committee is so appointed all references to the Board of Directors herein shall mean and relate to such
Committee, unless the context otherwise requires. 
  
 (c) Grant of
Options to Directors and Officers. With respect to the grant or award of any option to any director or officer (as defined for purposes of Section 16 of the Securities Exchange Act of 1934), the selection of any officer or director as a recipient of
an option, the timing of the option grant, the exercise price of the option and the number of shares subject to the option shall be determined either (i) by the Board of Directors, provided each member is a disinterested person (as hereinafter
defined), or (ii) by a committee of two or more directors having full authority to act in the matter, of which each member is a disinterested person. For the purposes of the Plan, a director shall be deemed to be a “disinterested person”
within the meaning of paragraph (c)(2)(i) of Rule 16(b-3) under the Securities Exchange Act of 1934 (or any successor rule), as such term is interpreted from time to time. 
  

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 3. Eligibility. 
  
 Options shall be granted to persons who are, at the time of grant, employees (including officers and directors who are
employees) or consultants of the Company or of any Parent Corporation or Subsidiary (as defined in Section 19 hereof); provided that no incentive stock options may be granted to (I) a person who is not an employee of the Company, a Parent
Corporation or Subsidiary, or (ii) a person who directly or indirectly owns, as of the date of grant, Common Stock possessing more than 10% of the total combined voting power of all classes of stock of the Company or a Parent Corporation or a
Subsidiary, unless the requirements of section 11(b) are met. A person who has been granted an option may, if he or she is otherwise eligible, be granted an additional option or options of the Board of Directors shall so determine. 
  
 4. Stock Subject to Plan. 
  
 Subject to adjustment as provided in Section 15 below, the maximum number of
shares of Common Stock of the Company which may be issued and sold under the Plan is 10,500,000 shares. Such shares may be authorized and unissued shares or may be shares issued and thereafter acquired by the Company. If an option granted under the
Plan shall expire or terminate for any reason without having been exercised in full, the unpurchased shares subject to such option shall again be available for subsequent option grants under the Plan. 
  
 5. Forms of Option Agreements. 
  
 As a condition to the grant of an option under the Plan, each recipient of
an option shall execute an option agreement in such form not inconsistent with the Plan as may be specified by the Board of Directors. 
  
 6. Purchase Price. 
  
 (a) General. The purchase price per share of Common Stock deliverable upon the exercise of an option shall be determined by the Board of Directors,
provided that the purchase price per share for incentive stock options shall not be less than 100% of the fair market value of the Common Stock as of the date of grant of the option and the purchase price per share for nonstatutory stock options
shall not be less than 25% of the fair market value of the Common Stock as of the date of the grant of the option. 
  
 (b) Payment of Purchase Price. Options granted under the Plan may provide for the payment of the exercise price by delivery of (i) cash or a check to the
order of the Company in an amount equal to the exercise price of such options. (ii) shares of Common stock of the Company owned by the optionee having a fair market value equal in amount to the exercise price of the options being exercised, provided
such shares have been owned by the optionee for at least 12 months, or (iii) by any combination of such methods of payment. The fair market value of any shares of the Company’s Common Stock which may be delivered upon exercise of an option
shall be determined by the Board of Directors. 
  
 7. Option Period. 
  
 Each option and all rights
thereunder shall expire on such date as the Board of Directors shall determine, but in no event after the expiration of ten year from the day on which the option is granted in the case of incentive stock options and ten years plus 30 days from the
day on which the option is granted in the cash of nonstatutory stock options, and in either case, shall be subject to earlier termination as provided in the Plan. 
  

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 8. Exercise of Options. 
  
 Each option granted under the Plan shall be exercisable either in full or in installments at such time or times and during
such period as shall be set forth in the agreement evidencing such option, subject to the provisions of Section 7. To the extent that an option to purchase shares is not exercised by an optionee when it becomes initially exercisable, it shall not
expire but shall be carried forward and shall be exercisable, on a cumulative basis, until the expiration of the option period. 
  
 9. Nontransferability of Options. 
  
 No option granted under the plan shall be assignable or transferable by the person to whom it is granted, either voluntarily or by operation of law,
except by will or the laws of descent and distribution. During the life of the optionee, the option shall be exercisable only by such person. 
  
 10. Effect of termination of Employment. 
  
 The portion of each option which may be exercised in the event that an optionee ceases to serve as an employee or consultant of the Company, and the
period or periods during which such option may be exercised in such event, shall be as set forth in the agreement evidencing such option, subject to the provisions of Section 7. 
  
 11. Incentive Stock Options. 
  
 Options granted under the Plan which are intended to be incentive stock options qualifying under Section 422A of the Code
shall be designated as Incentive Stock Options and shall be subject to the following additional terms and conditions: 
  
 (a) Dollar Limitation. Incentive Stock Options granted to any employee under the Plan (and under all other Incentive Stock Option Plans of the Company, a
Parent Corporation or a Subsidiary) shall not, in the aggregate, become exercisable for the first time in any one calendar year for shares of Common stock with an aggregate fair market value determined as of the respective date or dates of grant) of
more than $100,000. 
  
 (b) 10% Shareholder. If any employee to
whom an Incentive Stock Option is to be granted pursuant to the provisions of the Plan is on the date of grant the owner of stock possessing more than 10% of the Company or any one of its subsidiaries, then the following special provisions shall be
applicable to the Incentive Stock Option granted to such individual: 
  

	 	i.	The option price per share of the Common Stock subject to such Incentive Stock Option shall not be less than 110% of the fair market value of one share of Common stock on the date
of grant; and 

  

	 	ii.	The option exercise period shall not exceed five years from the date of grant. 

  

Except as modified by the preceding provisions of this Section 11, all the provisions of the Plan shall be applicable to Incentive Stock Options
granted hereunder. 
  
 12. Additional Provisions.

  
 (a) Additional Option Provisions. The Board of Directors may,
in its sole discretion, include additional provisions in any option granted under the Plan, including without limitation restrictions 

  

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on transfer, repurchase rights, commitments to pay cash bonuses, make loans or transfer other property to optionees upon exercise of options, or such other
provisions as shall be determined by the Board of Directors; provided that, such additional provisions shall not be inconsistent with any other term or condition of the Plan. 
  
 (b) Acceleration. The Board of Directors may, in its sole discretion, accelerate the date on which all or any particular
option or options granted under the Plan may be exercised. 
  
 13. General Restrictions. 
  
 (a)
Investment Representations. The Company may require any person to whom an option is granted, as a condition of exercising such option, to give written assurances in substance and form satisfactory to the Company to the effect that such person is
acquiring the Common stock subject to the option for his or her account for investment and not with any present intention of selling or otherwise distributing the same, and to such other effects as the Company deems necessary or appropriate in order
to comply with federal and applicable state securities laws. 
  
 (b) Compliance with Securities Laws. Each option shall be subject to the requirement that if, at any time, counsel for the Company shall determine that the listing, registration or qualification of the shares subject to such option upon any
securities exchange or under any state or federal law, or the consent or approval of any governmental or regulatory body, is necessary as a condition of, or in connection with, the issuance or purchase of shares thereunder, such option may not be
exercised, in whole or in part, unless such listing, registration, qualification, consent or approval shall have been effected or obtained on conditions acceptable to the Board of Directors. Nothing herein shall be deemed to require the Company to
apply for or to obtain such listing, registration or qualification. 
  
 14. Rights as a Shareholder. 
  
 The holder of an option shall have no rights as a shareholder with respect to any shares covered by the option until the date of issue of a stock certificate to him or her for such shares. Except as provided in Paragraph 16A below, no
adjustment shall be made for dividends or other rights for which the record date is prior to the date such stock certificate is issued. 
  
 15. Recapitalization. 
  
 In the event that the outstanding shares of Common Stock of the Company are changed into or exchange for a different number or kind of shares or other
securities of the Company by reason of any recapitalization, reclassification, stock split, stock dividend, combination or subdivision, appropriate adjustment shall be made in the number and kid of shares available under the Plan and under any
options granted under the Plan. Such adjustment to outstanding options shall be made without change in the total price applicable to the unexercised portion of such options and a corresponding adjustment in the applicable option price per share
shall be made. 
  
 16. Reorganization.

  
 In case the Company is merged or consolidated with another
corporation and the Company is not the surviving corporation, or in case all or substantially all of the assets or more than 50% of the outstanding voting stock of the Company is acquired by any other corporation, or in case of a reorganization or
liquidation of the Company, the Board of Directors of the Company, or the board of directors of any corporation assuming the obligations of the Company, shall, as to outstanding options, either (i) make appropriate provision for the protection of
any such outstanding options by the substitution on an equitable basis of appropriate stock of the Company, or of the merged, 

  

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consolidated or otherwise reorganized corporation which will be issuable in respect to the shares of Common stock of the Company, provided that no additional
benefits shall be conferred upon optionees as a result of such substitution, and the excess of the aggregate fair market value the shares subject of the options immediately before such substitution over the purchase price thereof, or (ii) upon
written notice to the optionees, provide that all unexercised options must be exercised within a specified number of days of the date of such notice or they will be terminated. 
  
 16A. Changes in Common Stock. 
  
 Effective as of July 17, 2003, in the event of any stock split, stock dividend, recapitalization, reorganization, merger,
consolidation, combination, exchange of shares, liquidation, spin-off or other similar change in capitalization or event, or any distribution to holders of Common Stock other than a normal cash dividend, (i) the number and class of securities
available under this Plan, and (ii) the number and class of security and exercise price per share subject to each outstanding Option, shall be appropriately adjusted by Iomega (or substituted Awards may be made, if applicable). Such adjustment shall
be made by the Board, whose determination in that respect shall be final, binding and conclusive. If this Paragraph 16A applies and Paragraph 16 also applies to any event, Paragraph 16 shall be applicable to such event, and Paragraph 16A shall not
be applicable. Any adjustment required to be made under this Paragraph 16A with respect to any event that occurred on or after July 17, 2003 and prior to the date of stockholder approval of this paragraph of Section 9, shall be made effective as of
the first business day following the day of stockholder approval. 
  
 17. No Special Employment Rights. 
  
 Nothing contained in the Plan or in any option shall confer upon any optionee any right with respect to the continuation of his or her employment by the Company (or any Parent Corporation or Subsidiary) or interfere in any way with the
right of the Company (or any Parent Corporation or Subsidiary), subject to the terms of any separate employment agreement to the contrary, at any time to terminate such employment or to increase or decrease the compensation of such optionee. Whether
an authorized leave of absence, or absence in military or government service shall constitute termination of employment, shall be determined by the Board of Directors at the time. 
  
 18. Other Employee Benefits. 
  
 The amount of any compensation deemed to be received by an employee as a result of the exercise of an option or the sale of
shares received upon such exercise will not constitute compensation with respect to which such other employee benefits of such employee are determined, including, without limitation, benefits under any bonus, pension, profit-sharing, life insurance
or salary continuation plan. 
  
 19. Definition
of Subsidiary and Parent Corporation. 
  
 (a) Subsidiary. The
term “Subsidiary” as used in the Plan shall mean any corporation (other than the Company) in an unbroken chain of corporations beginning with the Company if, at the time of the granting of an option, each of the corporations other 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. 
  
 (b) Parent Corporation. The term “ Parent Corporation” as used in the Plan shall mean any corporation (other than
the Company) in an unbroken chain of corporations ending with the Company if, at the time of the granting of an option, each of the corporations other 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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 20. Amendment of the Plan. 
  
 The Board of Directors may at any time, and from time to time, modify or
amend the Plan in any respect, except that without the approval of the shareholders of the Company the Board of Directors may not (a) materially increase the benefits accruing to individuals who participate in the Plan, (b) increase the maximum
number of shares which may be issued under the Plan (except for adjustments specifically provided in the Plan), or (c) materially modify the requirements as to eligibility for participation in the Plan. The termination or any modification or
amendment of the Plan shall not, without the consent of an optionee, affect his or her rights under an option previously granted to him or her. With the consent of the optionee affected, the Board of Directors may amend outstanding option agreements
in a manner not inconsistent with the Plan. 
  
 21. Withholding. 
  
 The Company’s obligation to
deliver shares upon the exercise of any option granted under the Plan shall be subject to the optionee’s satisfaction of all applicable federal, state and local income and employment tax withholding requirements. Upon the exercise of an option
under the Plan, the Company (if the option agreement so provides) may withhold from the shares being delivered to the optionee upon the exercise of the option such number of shares as is necessary to satisfy any applicable tax withholding
requirements (based on the fair market value of the Common stock at the time of exercise). 
  
 22. Effective Date and Duration of the Plan. 
  
 (a) Effective Date. The Plan shall become effective when adopted by the Board of Directors, but any option granted under the Plan to an officer or
director of the Company shall be null and void unless the Plan shall have been approved by the Company’s shareholders by April 21, 1988. Amendments to the Plan not requiring shareholder approval shall become effective when adopted by the Board
of Directors; amendments requiring shareholder approval (as provided in Section 20) shall become effective when adopted by the Board of Directors, but any option granted to an officer or director of the Company after the date of such amendment shall
be null and void (to the extent that such amendment to the Plan was required to enable the Company to grant such option to a particular optionee) unless such amendment shall have been approved by the Company’s shareholders within one year of
the date of such amendment. Subject to this limitation, options may be granted under the Plan at any time after the effective date and before the date fixed for termination of the Plan. 
  
 (b) Termination. Unless sooner terminated in accordance with Section 15, the Plan shall terminate upon the earlier of (i)
the close of business on the day next preceding the tenth anniversary of the date of its adoption by the Board of Directors, or (ii) the date on which all shares available for issuance under the Plan shall have been issued pursuant to the exercise
of cancellation of options granted under the Plan. If the date of termination is determined under (i) above, then options outstanding on such date shall continue to have force and effect in accordance with the provisions of the instruments
evidencing such options. 
  
 Adopted by Board of
Directors: April 21, 1987 
 Approved by Stockholders: April 19, 1988 
 Amended: April 22, 1991 
 Amended: May 25, 2004 
  

 61995 Director Stock Option Plan of the Company, as amended

 Exhibit 10.19 
 IOMEGA CORPORATION 
  
 SECOND AMENDED AND RESTATED 
 1995 DIRECTOR STOCK OPTION PLAN 
 (as amended through May 25, 2004) 
  
 1. PURPOSE 
  
 The purpose of this 1995 Director Stock Option Plan (the “Plan”) of Iomega Corporation (the “Company”) is to encourage ownership in
the Company by outside directors of the Company whose continued services are considered essential to the Company’s continued progress and thus to provide them with a further incentive to continue as directors of the Company. 
  
 2. ADMINISTRATION 
  
 (a) The Board of Directors, or a Committee (the “Committee”)
consisting of two or more directors of the Company, shall supervise and administer the Plan. Grants of stock options under the Plan and the amount and nature of the awards to be granted shall be automatic in accordance with Section 5. However, all
questions of interpretation of the Plan or of any options issued under it shall be determined by the Board of Directors or the Committee, and such determination shall be final and binding upon all persons having an interest in the Plan. 

 
 (b) The Plan is intended to comply with all applicable conditions of Rule
16b-3 or its successors under Section 16 of the Securities Exchange Act of 1934, as amended (“Rule 16b-3”). To the extent any provision of the Plan or action by the Board of Directors fails to so comply, it shall be deemed null and void,
to the extent permitted by law and deemed advisable by the Board of Directors. 
  
 3. PARTICIPATION IN THE PLAN 
  
 Directors of the Company who are not employees of the Company or any subsidiary of the Company shall be eligible to participate in the Plan. 

 
 4. STOCK SUBJECT TO THE PLAN 
  
 (a) The maximum number of shares which may be issued under the Plan shall be
480,000 shares of the Company’s Common Stock, subject to adjustment as provided in Section 9 of the Plan. 
  
 (b) If any outstanding option under the Plan for any reason expires or is terminated without having been exercised in full, the shares allocable to the
unexercised portion of such option shall again become available for grant pursuant to the Plan. 
  
 (c) All options granted under the Plan shall be nonstatutory options not entitled to special tax treatment under Section 422 of the Internal Revenue Code
of 1986, as amended to date and as it may be amended from time to time (the “Code”). 
  
 (d) Shares issued under the Plan may consist in whole or in part of authorized but unissued shares or treasury shares. 
  

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 5. TERMS, CONDITIONS AND FORM OF OPTIONS 
  
 Each option granted under the Plan shall be evidenced by a written agreement
in such form as the Board of Directors or Committee shall from time to time approve, which agreements shall comply with and be subject to the following terms and conditions: 
  
 (a) OPTION GRANTS. Each person who first becomes a non-employee director from and after April 22, 1997 shall be granted:

  
 (x) an option to purchase (i) if such person first becomes a
non-employee director prior to the Company’s 1998 Annual Meeting of Stockholders, 8,000 shares of Common Stock on the date that he/she is first elected to serve as such a director (“Initial Option Date”) and 2,000 shares of Common
Stock on the date of the Company’s 1998 Annual Meeting of Stockholders (with such 2,000-share grant to vest in accordance with the vesting schedule contained in, and to have the same term as, the 8,000-share grant) or (ii) if such person first
becomes a non-employee director at or after the Company’s 1998 Annual Meeting of Stockholders, 10,000 shares of Common Stock on the Initial Option Date; and 
  
 (y) an annual option to purchase 2,000 shares of Common Stock on each anniversary of the Initial Option Date after the full
vesting of such director’s initial option grant has occurred, provided that he/she is then continuing to serve as a director. Each person who was serving as a non-employee director on April 21, 1997 shall be granted an annual option to purchase
2,000 shares of Common Stock on April 22, 1997 and on each April 22 thereafter that such person continues to serve as a director; provided that no such option will be granted to a non-employee director on a scheduled date of grant if on such
scheduled date of grant the option granted to such non-employee director prior to April 22, 1997 is not fully vested. 
  
 (b) OPTION EXERCISE PRICE. The option exercise price for each option granted under the Plan after February 2, 1999 shall equal the average of the high and
low selling prices of the Company’s Common Stock on the New York Stock Exchange on the date of grant of such option. 
  
 (c) TRANSFERABILITY OF OPTIONS. Each option granted under the Plan by its terms shall not be transferable by the optionee otherwise than by will, or by
the laws of descent and distribution, and shall be exercised during the lifetime of the optionee only by the optionee; provided, however, that any option may be transferred by a director to any member of his/her immediate family (spouse, children,
parents, grandchildren, grandparents and siblings), to a trust for any such family member or as a charitable gift to any charitable organization, person or entity. Subject to the foregoing proviso, no option or interest therein may be transferred,
assigned, pledged or hypothecated by the optionee during the optionee’s lifetime, whether by operation of law or otherwise, or be made subject to execution, attachment or similar process. 
  
 (d) TERM OF OPTIONS. No option shall be exercisable after the expiration of
ten (10) years from the date upon which such option is granted. Each option shall be subject to termination before its date of expiration as hereinafter provided. 
  
 (e) EXERCISE OF OPTIONS. Options shall be exercisable, on a cumulative basis, in five equal annual installments, commencing
as to one-fifth of the shares on the earlier of (i) the first anniversary of the grant date or (ii) in the case of any director who is retiring from the Board of Directors at the end of his term, if the Annual Meeting of the Company for the year
during which the first anniversary of the date of grant occurs is held no more than eight days prior to such anniversary date, on the date immediately prior to the date of such Annual Meeting and the remaining four annual installments on each of the
four succeeding anniversaries of the grant date 

  

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(or, in each case with respect to any director who is retiring from the Board of Directors at the end of his term, on the date immediately prior to the date
of the Annual Meeting of the Company for the year in which such anniversary date occurs, if, but only if, such Annual Meeting is held no more than eight days prior to the applicable_anniversary date). If the optionee ceases to be a director,
his/her options or any unexercised portion thereof which was vested and exercisable on the date of termination of the director’s service shall terminate unless exercised within a period of 90 days after the date on which the director ceased to
be a director, but in no event after the expiration of ten years from the grant date. Any such exercise may be made only to the extent of the number of shares subject to the option which are exercisable on the date of such termination except as
otherwise provided in the case of death of disability. Notwithstanding the foregoing, if the director ceases to be a director by reason of (i) death, (ii) disability or (iii) the director’s resignation or decision not to stand for re-election
at 55 or older following five years of service as a director, the period during which then vested, exercisable options may be exercised shall be two years rather than 90 days (but not after the tenth anniversary of the grant date). In addition, if a
director’s service is terminated by reason of death or disability, all then unvested options shall automatically vest and become immediately exercisable in full. 
  
 (f) PAYMENT OF EXERCISE PRICE. Options may be exercised only by written notice to the Company at its principal office
accompanied by (i) payment in cash or by certified or bank check of the full consideration for the shares as to which they are exercised, (ii) delivery of outstanding shares of the Company’s Common Stock (which, in the case of shares acquired
from the Company, have been outstanding for at least six months) having a fair market value on the last business day preceding the date of exercise equal to the option exercise price, (iii) any combination of (i) and (ii), or (iv) an irrevocable
undertaking, in a form satisfactory to the Company, by a broker to deliver promptly to the Company sufficient funds to pay the exercise price or delivery of irrevocable instructions, in a form satisfactory to the Company, by the option holder to a
broker to deliver promptly to the Company cash or a check sufficient to pay the exercise price. 
  
 (g) EXERCISE BY REPRESENTATIVE FOLLOWING DEATH OF DIRECTOR. A director, by written notice to the Company, may designate one or more persons (and from time
to time change such designation) including his/her legal representative, who, by reason of his/her death, shall acquire the right to exercise all or a portion of the option. If the person or persons so designated wish to exercise any portion of the
option, they must do so within the term of the option as provided herein. Any exercise by a representative shall be subject to the provisions of the Plan. 
  
 (h) MONTHLY OPTION GRANTS. At the discretion of the Board of Directors or the Committee, in lieu of any option to be granted pursuant to section 5(a) (the
“Replaced Option”), the Board of Directors or the Committee may, upon request of the optionee made no later than the time of grant, provide for the granting of a series of monthly option grants over a number of months (which may range from
2 to 24) determined by the Board of Directors or the Committee. The first such monthly options shall be granted on the date on which the Replaced Option would have been granted and the subsequent monthly options will be granted on the comparable day
in each successive month during the period of months over which such series shall be granted. The terms of such monthly options shall be the same as those of the options granted under Section 5(a), with the following exceptions: 
  
 (i) the number of shares subject to each monthly option in the series shall
equal the number of shares which would have been covered by the Replaced Option divided by the number of monthly periods (which may range from 2 to 24) determined by the Board of Directors or the Committee (subject to adjustment to eliminate
fractional shares); 
  

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 (ii) the option exercise price for each such monthly option shall equal the average of the high and low
selling prices of the Company’s Common Stock on the New York Stock Exchange on the date of grant of such monthly option; 
  
 (iii) all monthly options shall terminate ten years after the date of grant of the first monthly option in the applicable series (the “Initial
Monthly Option”); 
  
 (iv) the vesting of each such monthly
option shall be determined with reference to the date of grant of the Initial Monthly Option (and if the date of grant of a monthly option is on or after a vesting date of the Initial Monthly Option, such monthly option shall be exercisable upon
grant to the same extent as the Initial Monthly Option is then exercisable); 
  
 (v) if the optionee ceases to serve as a Director prior to the date of grant of any monthly option in the applicable series: 
  
 (x) if the Director’s service is terminated by reason of death or disability, then (1) on the next scheduled monthly grant date, the Company shall
grant to the Director one fully vested option for all the shares that would have been covered by the options that remained issuable under the applicable series of grants and (2) all prior monthly options shall automatically become exercisable in
full; or 
  
 (y) if the Director’s service is terminated
other than by reason of death or disability, then (1) no further monthly grants shall be made and (2) the vesting of all previously granted monthly options shall be accelerated (on a pro rata basis) such that the number of shares for which such
monthly options are exercisable as of such termination of service is equal to the number of shares for which the Replaced Option would have been exercisable as of such termination of service; and 
  
 (vi) in the event of a Change of Control, (x) the Company shall, immediately
prior to such Change of Control, grant to the Director an option for all the shares that would have been covered by the Monthly Options that remained issuable under the applicable series of grants and (y) the vesting of all Monthly Options shall be
accelerated to the extent required so that the Director is entitled to purchase, in total, the number of shares he or she would have been vested in, pursuant to Section 10 (“Change of Control”), had the Replaced Option been granted in
accordance with Section 5(a). 
  
 6. ASSIGNMENTS

  
 The rights and benefits under the Plan may not be assigned
except as provided in subsections (c) and (g) of Section 5. 
  
 7. TIME FOR GRANTING OPTIONS 
  
 All options for shares subject to the Plan shall be granted, if at all, not later than ten (10) years after the approval of the Plan by the Company’s stockholders. 
  
 8. LIMITATION OF RIGHTS 
  
 (a) NO RIGHT TO CONTINUE AS A DIRECTOR. Neither the Plan, nor the granting of an option nor any other action taken pursuant
to the Plan, shall constitute or be evidence of any agreement or understanding, express or implied, that the Company will retain a director for any period of time, or at any particular rate of compensation. 
  

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 (b) NO STOCKHOLDER’S RIGHTS AS OPTION HOLDERS. An optionee shall have no rights as a stockholder
with respect to the shares covered by such person’s options until the date of the issuance to such person of a stock certificate therefor. Except as provided in Section 9 below, no adjustment will be made for dividends or other rights for which
the record date is prior to the date such certificate is issued. 
  
 (c) COMPLIANCE WITH SECURITIES LAWS. Each option shall be subject to the requirement that if, at any time, counsel to the Company shall determine that the listing, registration or qualification of the shares subject to such option upon any
securities exchange or under any state or federal law, or the consent or approval of any governmental or regulatory body, or the disclosure of non-public information or the satisfaction of any other condition is necessary as a condition to, or in
connection with, the issuance or purchase of shares thereunder, such option may not be exercised, in whole or in part, unless such listing, registration, qualification, consent or approval, or satisfaction or such condition shall have been effected
or obtained on conditions acceptable to the Board of Directors. 
  
 9. CHANGES IN COMMON STOCK 
  
 If
the outstanding shares of Common Stock are increased, decreased or exchanged for a different number or kind of shares or other securities of the Company, or if additional shares or new or different shares or other securities of the Company or other
non-cash assets are distributed with respect to such shares of Common Stock or other securities, through or as a result of any merger, consolidation, sale of all or substantially all of the assets of the Company, reorganization, recapitalization,
reclassification, stock dividend, stock split, reverse stock split or other distribution or transaction with respect to such shares of Common Stock, or other securities, an appropriate and proportionate adjustment shall automatically be made in (i)
the maximum number and kind of shares reserved for issuance under the Plan, (ii) the number and kind of shares or other securities subject to then outstanding options under the Plan, (iii) the number and kind of shares or other securities subject to
options to be granted under Section 5 of the Plan, and (iv) the price for each share subject to any then outstanding options under the Plan, without changing the aggregate purchase price as to which such options remain exercisable. No fractional
shares will be issued under the Plan on account of any such adjustments. 
  
 Effective as of July 17, 2003, in the event of any stock split, stock dividend, recapitalization, reorganization, merger, consolidation, combination, exchange of shares, liquidation, spin-off or other similar change
in capitalization or event, or any distribution to holders of Common Stock other than a normal cash dividend, (i) the number and class of securities available under this Plan, and (ii) the number and class of security and exercise price per share
subject to each outstanding Option, shall be appropriately adjusted by Iomega (or substituted Awards may be made, if applicable). Such adjustment shall be made by the Board, whose determination in that respect shall be final, binding and conclusive.
If this paragraph of Section 9 applies and Section 10 also applies to any event, Section 10 shall be applicable to such event, and this shall not be applicable. Any adjustment required to be made under this paragraph of Section 9 with respect to any
event that occurred on or after July 17, 2003 and prior to the date of stockholder approval of this paragraph of Section 9, shall be made effective as of the first business day following the day of stockholder approval. 
  
 10. CHANGE OF CONTROL 
  
 In the event of a Change of Control, one-half of the outstanding options
granted under the Plan which are not, by their terms, then exercisable, shall become immediately exercisable. All options which are not exercised at or prior to the occurrence of the Change of Control shall terminate 

  

 5 

 
immediately upon consummation of the Change of Control. A Change of Control will occur if and when any of the following events occurs or the Company enters
into an agreement with respect to any of such events: (a) any merger or consolidation which results in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being
converted into voting securities of the surviving or acquiring entity) less than 50% of the combined voting power of the voting securities of the Company or such surviving or acquiring entity outstanding immediately after such merger or
consolidation; (b) any sale of all or substantially all of the assets of the Company; or (c) the acquisition of “beneficial ownership” (as defined in rule 13d-3 under the Exchange Act) of securities of the Company representing 50% or more
of the combined voting power of the Company’s then outstanding securities (other than through a merger or consolidation or an acquisition of securities directly from the Company) by any “person,” as such term is used in Sections 13(d)
and 14(d) of the Exchange Act other than the Company, any trustee or other fiduciary holding securities under an employee benefit plan of the Company or any corporation owned directly or indirectly by the stockholders of the Company in substantially
the same proportion as their ownership of stock of the Company. 
  
 11. AMENDMENT OF THE PLAN 
  
 The
Board of Directors or Committee may suspend or discontinue the Plan or revise or amend it in any respect whatsoever; provided, however, that without approval of the stockholders of the Company no revision or amendment shall change the number of
shares subject to the Plan (except as provided in Section 9), change the designation of the class of directors eligible to receive options, or materially increase the benefits accruing to participants under the Plan. Notwithstanding the foregoing,
with respect to any option issued or issuable in accordance with Section 5(h), the Board shall not suspend, discontinue, revise or amend the Plan or any outstanding option in a manner which materially and adversely affects the rights of a director
under Section 5(h) without the consent of the affected director. 
  
 12. NOTICE 
  
 Any written notice
to the Company required by any of the provisions of the Plan shall be addressed to the Treasurer of the Company and shall become effective when it is received. 
  

13. GOVERNING LAW 
  
 The Plan and all determinations made and actions taken pursuant hereto shall be governed by the laws of the State of Delaware. 
  
 Approved by the Board of Directors – January 26, 1995

 Approved by the Shareholders – April 25, 1995 
 Amended by Board of Directors – February 2, 1999 
 Amended by Shareholders – May 25, 2004 
  

 6

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