Document:

Amended and Restated Investors' Rights Agreement

 EXHIBIT 4.2 
  

 
  

WORKDAY, INC. 
 AMENDED AND RESTATED 
 INVESTORS’ RIGHTS AGREEMENT 

October 13, 2011 
  

 
  
  

 TABLE OF CONTENTS 

 

									
	 	 	 	  	 	  	 Page
	 
			
	 1.
	 	 Registration Rights
	  	 	1	  
		 	 1.1
	  	 Definitions
	  	 	1	  
		 	 1.2
	  	 Request for Registration
	  	 	3	  
		 	 1.3
	  	 Company Registration
	  	 	4	  
		 	 1.4
	  	 Form S-3 Registration
	  	 	5	  
		 	 1.5
	  	 Obligations of the Company
	  	 	6	  
		 	 1.6
	  	 Information from Holder
	  	 	8	  
		 	 1.7
	  	 Expenses of Registration
	  	 	8	  
		 	 1.8
	  	 Delay of Registration
	  	 	8	  
		 	 1.9
	  	 Indemnification
	  	 	9	  
		 	 1.10
	  	 Reports Under the 1934 Act
	  	 	11	  
		 	 1.11
	  	 Assignment of Registration Rights
	  	 	11	  
		 	 1.12
	  	 Limitations on Subsequent Registration Rights
	  	 	12	  
		 	 1.13
	  	 “Market Stand-Off” Agreement
	  	 	12	  
		 	 1.14
	  	 Termination of Registration Rights
	  	 	13	  
			
	 2.
	 	 Covenants of the Company
	  	 	13	  
		 	 2.1
	  	 Delivery of Financial Statements
	  	 	13	  
		 	 2.2
	  	 Inspection
	  	 	15	  
		 	 2.3
	  	 Termination of Information and Inspection Covenants
	  	 	15	  
		 	 2.4
	  	 Right of First Offer
	  	 	15	  
		 	 2.5
	  	 Certain Tax Matters
	  	 	17	  
		 	 2.6
	  	 Committee Matters
	  	 	18	  
		 	 2.7
	  	 Restrictions on Sales of Control of the Company
	  	 	18	  
		 	 2.8
	  	 Termination of Certain Covenants
	  	 	18	  
		 	 2.9
	  	 Confidentiality
	  	 	18	  
			
	 3.
	 	 Miscellaneous
	  	 	19	  
		 	 3.1
	  	 Successors and Assigns
	  	 	19	  
		 	 3.2
	  	 Governing Law
	  	 	19	  
		 	 3.3
	  	 Counterparts
	  	 	19	  
		 	 3.4
	  	 Titles and Subtitles
	  	 	19	  
		 	 3.5
	  	 Notices
	  	 	19	  
		 	 3.6
	  	 Expenses
	  	 	20	  
		 	 3.7
	  	 Entire Agreement; Amendments and Waivers
	  	 	20	  
		 	 3.8
	  	 Severability
	  	 	20	  
		 	 3.9
	  	 Aggregation of Stock
	  	 	20	  
		 	 3.10
	  	 Waiver of Right of First Offer and Notice
	  	 	20	  
		 	 3.11
	  	 Additional Investors
	  	 	21	  
		 	 3.12
	  	 Termination of Prior Agreement
	  	 	21	  

  
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 AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

THIS AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT (the “Agreement”) is made as of the 13th day
of October 2011, by and among Workday, Inc., a Nevada corporation (the “Company”), and the investors listed on Schedule A hereto, each of which is herein referred to as an “Investor.” 

RECITALS 
 WHEREAS, certain of the Investors (the “Existing Investors”) hold shares of the Company’s Series A Preferred Stock (the “Series A Preferred Stock”), Series B Preferred
Stock (the “Series B Preferred Stock”), Series C Preferred Stock (the “Series C Preferred Stock”), Series D Preferred Stock (the “Series D Preferred Stock”), Series E Preferred Stock (the “Series E Preferred
Stock”) and/or shares of Common Stock issued upon conversion thereof and possess registration rights, information rights, rights of first offer and other rights pursuant to an Amended and Restated Investors’ Rights Agreement dated as of
April 17, 2009, as amended, by and among the Company and such Existing Investors (the “Prior Agreement”); 
 WHEREAS, the Prior Agreement may be amended, and any provision therein waived, with the consent of the Company and the holders of a majority of the outstanding Registrable Securities (as such term
is defined in the Prior Agreement); 
 WHEREAS, the Existing Investors as holders of a majority of the
outstanding Registrable Securities (as such term is defined in the Prior Agreement) of the Company desire to amend and restated the Prior Agreement and to accept the rights created pursuant hereto in lieu of the rights granted to them under the
Prior Agreement; and 
 WHEREAS, certain Investors are parties to the Series F Preferred Stock Purchase
Agreement of even date herewith by and among the Company and certain of the Investors (the “Series F Agreement”), which provides that as a condition to the closing of the sale of the Series F Preferred Stock (the “Series F Preferred
Stock,” collectively with the Series A Preferred Stock, the Series B Preferred Stock, the Series C Preferred Stock, the Series D Preferred Stock and the Series E Preferred Stock, the “Preferred Stock”), this Agreement must be executed
and delivered by such Investors, Existing Investors holding a majority of the outstanding Registrable Securities (as such term is defined in the Prior Agreement) of the Company, and the Company. 

NOW, THEREFORE, in consideration of the mutual promises and covenants set forth herein, the Existing Investors
hereby agree that the Prior Agreement shall be superseded and replaced in its entirety by this Agreement, and the parties hereto further agree as follows: 
 1.         Registration Rights.   The Company covenants and agrees as follows: 

1.1         Definitions.   For purposes of this Section 1:

 (a)        The term “Act” means the Securities Act of
1933, as amended. 

  
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 (b)        The term “Advisory
Account” shall mean a Holder that is advised by an Investment Adviser. 

(c)        The term “Affiliated Advisory Account” shall mean Advisory
Accounts that share the same or an affiliated Investment Adviser 

(d)        The term “Form S-3” means such form under the Act as in
effect on the date hereof or any registration form under the Act subsequently adopted by the SEC that permits inclusion or incorporation of substantial information by reference to other documents filed by the Company with the SEC. 

(e)        The term “Holder” means any person owning or having the
right to acquire Registrable Securities or any assignee thereof in accordance with Section 1.11 hereof. 

(f)         The term “Initial Offering” means the Company’s first
firm commitment underwritten public offering of its Common Stock under the Act. 

(g)        The term “Investment Adviser” shall mean an investment
adviser registered pursuant to the requirements of the Investment Advisers Act of 1940, as amended. The identity and contact information for each Advisory Account’s Investment Adviser is set forth on the signature page hereto of such Advisory
Account. 
 (h)        The term “1934 Act” means the
Securities Exchange Act of 1934, as amended. 
 (i)         The terms
“register,” “registered,” and “registration” refer to a registration effected by preparing and filing a registration statement or similar document in compliance with the Act, and the declaration or ordering of
effectiveness of such registration statement or document. 

(j)         The term “Registrable Securities” means (i) the
Common Stock issuable or issued upon conversion of the Preferred Stock, (ii) the Common Stock issuable or issued upon the exercise of the warrants issued to Flextronics International Management Services Ltd. on May 19, 2008, and
(iii) any Common Stock of the Company issued as (or issuable upon the conversion or exercise of any warrant, right or other security that is issued as) a dividend or other distribution with respect to, or in exchange for, or in replacement of,
the shares referenced in (i) and (ii) above, excluding in all cases, however, any Registrable Securities sold by a person in a transaction in which his rights under this Section 1 are not assigned. 

(k)        The number of shares of “Registrable Securities”
outstanding shall be determined by the number of shares of Common Stock outstanding that are, and the number of shares of Common Stock issuable pursuant to then exercisable or convertible securities that are, Registrable Securities. 

(l)         The term “Rule 144” shall mean Rule 144 under the Act.

 (m)       The term “SEC” shall mean the Securities and Exchange
Commission. 

  
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 1.2        Request for
Registration. 
 (a)        Subject to the conditions of this
Section 1.2, if the Company shall receive at any time after the earlier of (i) six (6) months after the effective date of the Initial Offering and (ii) thirty (30) months after the date of this Agreement, a written request
from the Holders of thirty percent (30%) or more of the Registrable Securities then outstanding (for purposes of this Section 1.2, the “Initiating Holders”) that the Company file a registration statement under the Act covering
the registration of Registrable Securities with an anticipated aggregate offering price of at least $15,000,000, then the Company shall, within twenty (20) days of the receipt thereof, give written notice of such request to all Holders, and
subject to the limitations of this Section 1.2, use all commercially reasonable efforts to effect, as soon as practicable, the registration under the Act of all Registrable Securities that the Holders request to be registered in a written
request received by the Company within twenty (20) days of the mailing of the Company’s notice pursuant to this Section 1.2(a). 
 (b)        If the Initiating Holders intend to distribute the Registrable Securities covered by their request by means of an underwriting, they shall so advise the
Company as a part of their request made pursuant to this Section 1.2 and the Company shall include such information in the written notice referred to in Section 1.2(a). In such event the right of any Holder to include its Registrable
Securities in such registration shall be conditioned upon such Holder’s participation in such underwriting and the inclusion of such Holder’s Registrable Securities in the underwriting (unless otherwise mutually agreed by a majority in
interest of the Initiating Holders and such Holder) to the extent provided herein. All Holders proposing to distribute their securities through such underwriting shall enter into an underwriting agreement in customary form with the underwriter or
underwriters selected for such underwriting by the Company (which underwriter or underwriters shall be reasonably acceptable to a majority in interest of the Initiating Holders). Notwithstanding any other provision of this Section 1.2, if the
underwriter advises the Company that marketing factors require a limitation on the number of securities underwritten (including Registrable Securities), then the Company shall so advise all Holders of Registrable Securities that would otherwise be
underwritten pursuant hereto, and the number of shares that may be included in the underwriting shall be allocated to the Holders of such Registrable Securities pro rata based on the number of Registrable Securities held by all such Holders
(including the Initiating Holders). In no event shall any Registrable Securities be excluded from such underwriting unless all other securities are first excluded. Any Registrable Securities excluded or withdrawn from such underwriting shall be
withdrawn from the registration. 
 (c)        Notwithstanding the
foregoing, the Company shall not be required to effect a registration pursuant to this Section 1.2: 

(i)        in any particular jurisdiction in which the Company would be required
to execute a general consent to service of process in effecting such registration, unless the Company is already subject to service in such jurisdiction and except as may be required under the Act; or 

  
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 (ii)        after the Company has
effected two (2) registrations pursuant to this Section 1.2, and such registrations have been declared or ordered effective; or 
 (iii)        during the period starting with the date sixty (60) days prior to the Company’s good faith estimate of the date of the filing of and ending
on a date one hundred eighty (180) days following the effective date of a Company-initiated registration subject to Section 1.3 below, provided that the Company is actively employing in good faith all commercially reasonable efforts to
cause such registration statement to become effective; or 

(iv)        if the Initiating Holders propose to dispose of Registrable
Securities that may be registered on Form S-3 pursuant to Section 1.4 hereof; or 

(v)        if the Company shall furnish to Holders requesting a registration
statement pursuant to this Section 1.2 a certificate signed by the Company’s Chief Executive Officer or Chairman of the Board stating that in the good faith judgment of the Board of Directors of the Company, it would be seriously
detrimental to the Company and its stockholders for such registration statement to be effected at such time, in which event the Company shall have the right to defer such filing for a period of not more than ninety (90) days after receipt of
the request of the Initiating Holders, provided that such right shall be exercised by the Company not more than once in any twelve (12)-month period. 
 1.3        Company Registration. 
 (a)        If (but without any obligation to do so) the Company proposes to register (including for this purpose a registration effected by the Company for
stockholders other than the Holders) any of its stock or other securities under the Act in connection with the public offering of such securities (other than a registration relating solely to the sale of securities of participants in a Company stock
plan, a registration relating to a corporate reorganization or transaction under Rule 145 of the Act, a registration on any form that does not include substantially the same information as would be required to be included in a registration statement
covering the sale of the Registrable Securities, or a registration in which the only Common Stock being registered is Common Stock issuable upon conversion of debt securities that are also being registered), the Company shall, at such time, promptly
give each Holder written notice of such registration. Upon the written request of each Holder given within twenty (20) days after mailing of such notice by the Company in accordance with Section 3.5, the Company shall, subject to the
provisions of Section 1.3(c), use all commercially reasonable efforts to cause to be registered under the Act all of the Registrable Securities that each such Holder requests to be registered. 

(b)        Right to Terminate Registration. The Company shall have the
right to terminate or withdraw any registration initiated by it under this Section 1.3 prior to the effectiveness of such registration whether or not any Holder has elected to include securities in such registration. The expenses of such
withdrawn registration shall be borne by the Company in accordance with Section 1.7 hereof. 

  
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 (c)        Underwriting
Requirements.   In connection with any offering involving an underwriting of shares of the Company’s capital stock, the Company shall not be required under this Section 1.3 to include any of the Holders’ securities in
such underwriting unless they accept the terms of the underwriting as agreed upon between the Company and the underwriters selected by the Company (or by other persons entitled to select the underwriters) and enter into an underwriting agreement in
customary form with such underwriters, and then only in such quantity as the underwriters determine in their sole discretion will not jeopardize the success of the offering by the Company. If the total amount of securities, including Registrable
Securities, requested by stockholders to be included in such offering exceeds the amount of securities sold other than by the Company that the underwriters determine in their sole discretion is compatible with the success of the offering, then the
Company shall be required to include in the offering only that number of such securities, including Registrable Securities, that the underwriters determine in their sole discretion will not jeopardize the success of the offering. In no event shall
any Registrable Securities be excluded from such offering unless all other stockholders’ securities have been first excluded. In the event that the underwriters determine that less than all of the Registrable Securities requested to be
registered can be included in such offering, then the Registrable Securities that are included in such offering shall be apportioned pro rata among the selling Holders based on the number of Registrable Securities held by all selling Holders or in
such other proportions as shall mutually be agreed to by all such selling Holders. Notwithstanding the foregoing, in no event shall the amount of securities of the selling Holders included in the offering be reduced below ten percent (10%) of
the total amount of securities included in such offering, unless such offering is the initial public offering of the Company’s securities, in which case the selling Holders may be excluded if the underwriters make the determination described
above and no other stockholder’s securities are included in such offering. For purposes of the preceding sentence concerning apportionment, for any selling stockholder that is a Holder of Registrable Securities and that is a venture capital
fund, partnership or corporation, the affiliated venture capital funds, partners, retired partners and stockholders of such Holder, or the estates and family members of any such partners and retired partners and any trusts for the benefit of any of
the foregoing persons shall be deemed to be a single “selling Holder,” and any pro rata reduction with respect to such “selling Holder” shall be based upon the aggregate amount of Registrable Securities owned by all such related
entities and individuals. 
 1.4        Form S-3
Registration.   In case the Company shall receive from the Holders of Registrable Securities (for purposes of this Section 1.4, the “Initiating Holders”) a written request or requests that the Company effect a
registration on Form S-3 and any related qualification or compliance with respect to all or a part of the Registrable Securities owned by such Holder or Holders, the Company shall: 

(a)        promptly give written notice of the proposed registration, and any
related qualification or compliance, to all other Holders; and 

(b)        use all commercially reasonable efforts to effect, as soon as
practicable, such registration and all such qualifications and compliances as may be so requested and as would permit or facilitate the sale and distribution of all or such portion of such Holders’ Registrable Securities as are specified in
such request, together with all or such portion of the Registrable Securities of any other Holders joining in such request as are specified in a written request given within fifteen (15) days after receipt of such written notice from the
Company, provided, however, that the Company shall not be obligated to effect any such registration, qualification or compliance, pursuant to this section 1.4: 

(i)         if Form S-3 is not available for such offering by the Holders;

  
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 (ii)        if the Holders,
together with the holders of any other securities of the Company entitled to inclusion in such registration, propose to sell Registrable Securities and such other securities (if any) at an aggregate price to the public (net of any underwriters’
discounts or commissions) of less than $5,000,000; 
 (iii)        if
the Company shall furnish to Holders requesting a registration statement pursuant to this Section 1.4 a certificate signed by the Company’s Chief Executive Officer or Chairman of the Board stating that in the good faith judgment of the
Board of Directors of the Company, it would be seriously detrimental to the Company and its stockholders for such registration statement to be effected at such time, in which event the Company shall have the right to defer such filing for a period
of not more than ninety (90) days after receipt of the request of the Initiating Holders, provided that such right shall be exercised by the Company not more than once in any twelve (12)-month period; 

(iv)        if the Company has, within the six (6) month period preceding
the date of such request, already effected one registration on Form S-3 for the Holders pursuant to this Section 1.4; or 
 (v)         in any particular jurisdiction in which the Company would be required to qualify to do business or to execute a general consent to service of
process in effecting such registration, qualification or compliance. 

(c)        If the Initiating Holders intend to distribute the Registrable
Securities covered by their request by means of an underwriting, they shall so advise the Company as a part of their request made pursuant to this Section 1.4 and the Company shall include such information in the written notice referred to in
Section 1.4(a). The provisions of Section 1.2(b) shall be applicable to such request (with the substitution of Section 1.4 for references to Section 1.2). 

(d)        Subject to the foregoing, the Company shall file a registration
statement covering the Registrable Securities and other securities so requested to be registered as soon as practicable after receipt of the request or requests of the Initiating Holders. Registrations effected pursuant to this Section 1.4
shall not be counted as requests for registration effected pursuant to Sections 1.2. 

1.5        Obligations of the Company.   Whenever required
under this Section 1 to effect the registration of any Registrable Securities, the Company shall, as expeditiously as reasonably possible: 
 (a)        prepare and file with the SEC a registration statement with respect to such Registrable Securities and use all commercially reasonable efforts to cause
such registration statement to become effective, and, upon the request of the Holders of a majority of 

  
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the Registrable Securities registered thereunder, keep such registration statement effective for a period of up to one hundred twenty (120) days or, if earlier, until the distribution
contemplated in the Registration Statement has been completed; 

(b)        prepare and file with the SEC such amendments and supplements to such
registration statement and the prospectus used in connection with such registration statement as may be necessary to comply with the provisions of the Act with respect to the disposition of all securities covered by such registration statement;

 (c)        furnish to the Holders such number of copies of a
prospectus, including a preliminary prospectus, in conformity with the requirements of the Act, and such other documents as they may reasonably request in order to facilitate the disposition of Registrable Securities owned by them; 

(d)        use all commercially reasonable efforts to register and qualify the
securities covered by such registration statement under such other securities or Blue Sky laws of such jurisdictions as shall be reasonably requested by the Holders, provided that the Company shall not be required in connection therewith or as a
condition thereto to qualify to do business or to file a general consent to service of process in any such states or jurisdictions; 
 (e)         in the event of any underwritten public offering, enter into and perform its obligations under an underwriting agreement, in usual and customary
form, with the managing underwriter of such offering; 

(f)         notify each Holder of Registrable Securities covered by such
registration statement at any time when a prospectus relating thereto is required to be delivered under the Act of the happening of any event as a result of which the prospectus included in such registration statement, as then in effect, includes an
untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing; 

(g)        cause all such Registrable Securities registered pursuant to this
Section 1 to be listed on a national exchange or trading system and on each securities exchange and trading system on which similar securities issued by the Company are then listed; and 

(h)        provide a transfer agent and registrar for all Registrable Securities
registered pursuant hereunder and a CUSIP number for all such Registrable Securities, in each case not later than the effective date of such registration. 

  
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 Notwithstanding the provisions of this Section 1, the Company shall be
entitled to postpone or suspend, for a reasonable period of time not to exceed 60 days, and no more than once in any twelve month period, the filing, effectiveness or use of, or trading under, any registration statement if the Company shall
determine that any such filing or the sale of any securities pursuant to such registration statement would in the good faith judgment of the Board of Directors of the Company: 

(i)        materially impede, delay or interfere with any material pending or
proposed financing, acquisition, corporate reorganization or other similar transaction involving the Company for which the Board of Directors of the Company has authorized negotiations; 

(ii)        materially adversely impair the consummation of any pending or
proposed material offering or sale of any class of securities by the Company; or 

(iii)        require disclosure of material nonpublic information that, if
disclosed at such time, would be materially harmful to the interests of the Company and its stockholders; provided, however, that during any such period all executive officers and directors of the Company are also prohibited from
selling securities of the Company (or any security of any of the Company’s subsidiaries or affiliates). 

In the event of the suspension of effectiveness of any registration statement pursuant to this Section 1.5, the
applicable time period during which such registration statement is to remain effective shall be extended by that number of days equal to the number of days the effectiveness of such registration statement was suspended. 

1.6        Information from Holder.   It shall be a condition
precedent to the obligations of the Company to take any action pursuant to this Section 1 with respect to the Registrable Securities of any selling Holder that such Holder shall furnish to the Company such information regarding itself, the
Registrable Securities held by it, and the intended method of disposition of such securities as shall be reasonably required to effect the registration of such Holder’s Registrable Securities. 

1.7         Expenses of Registration.   All expenses
(other than underwriting discounts and commissions) incurred in connection with registrations, filings or qualifications pursuant to Sections 1.2, 1.3 and 1.4, including (without limitation) all registration, filing and qualification fees,
printers’ and accounting fees, fees and disbursements of counsel for the Company as well as a single counsel for Investors (not to exceed $25,000) shall be borne by the Company. Notwithstanding the foregoing, the Company shall not be required
to pay for any expenses of any registration proceeding begun pursuant to Section 1.2 or Section 1.4 if the registration request is subsequently withdrawn at the request of the Holders of a majority of the Registrable Securities to be
registered (in which case all participating Holders shall bear such expenses pro rata based upon the number of Registrable Securities that were to be included in the withdrawn registration), unless, in the case of a registration requested under
Section 1.2, the Holders of a majority of the Registrable Securities agree to forfeit their right to one demand registration pursuant to Section 1.2 and provided, however, that if at the time of such withdrawal, the Holders have learned of
a material adverse change in the condition, business or prospects of the Company from that known to the Holders at the time of their request and have withdrawn the request with reasonable promptness following disclosure by the Company of such
material adverse change, then the Holders shall not be required to pay any of such expenses and shall retain their rights pursuant to Section 1.2. 
 1.8        Delay of Registration.   No Holder shall have any right to obtain or seek an injunction restraining or otherwise delaying any such
registration as the result of any controversy that might arise with respect to the interpretation or implementation of this Section 1. 

  
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 1.9        
Indemnification.   In the event any Registrable Securities are included in a registration statement under this Section 1: 
 (a)        To the extent permitted by law, the Company will indemnify and hold harmless each Holder, the partners, officers, directors and stockholders of each
Holder, legal counsel and accountants for each Holder, any underwriter (as defined in the Act) for such Holder and each person, if any, who controls such Holder or underwriter within the meaning of the Act or the 1934 Act, against any losses,
claims, damages or liabilities (joint or several) to which they may become subject under the Act, the 1934 Act, any state securities laws or any rule or regulation promulgated under the Act, insofar as such losses, claims, damages, or liabilities
(or actions in respect thereof) arise out of or are based upon any of the following statements, omissions or violations (collectively a “Violation”): (i) any untrue statement or alleged untrue statement of a material fact contained in
such registration statement, including any preliminary prospectus or final prospectus contained therein or any amendments or supplements thereto, (ii) the omission or alleged omission to state in such registration statement a material fact
required to be stated therein, or necessary to make the statements therein not misleading or (iii) any violation or alleged violation by the Company of the Act, the 1934 Act, any state securities laws or any rule or regulation promulgated under
the Act, the 1934 Act or any state securities laws, and the Company will reimburse each such Holder, underwriter, controlling person or other aforementioned person for any legal or other expenses reasonably incurred by them in connection with
investigating or defending any such loss, claim, damage, liability or action as such expenses are incurred; provided, however, that the indemnity agreement contained in this subsection 1.9(a) shall not apply to amounts paid in settlement of any such
loss, claim, damage, liability or action if such settlement is effected without the consent of the Company (which consent shall not be unreasonably withheld), nor shall the Company be liable in any such case for any such loss, claim, damage,
liability or action to the extent that it arises out of or is based upon a Violation that occurs in reliance upon and in conformity with written information furnished expressly for use in connection with such registration by any such Holder,
underwriter, controlling person or other aforementioned person; provided further, however, that the foregoing indemnity agreement with respect to any preliminary prospectus shall not inure to the benefit of any Holder or underwriter or other
aforementioned person, or any person controlling such Holder or underwriter, from whom the person asserting any such losses, claims, damages or liabilities purchased shares in the offering, if a copy of the most current prospectus was not sent or
given by or on behalf of such Holder or underwriter or other aforementioned person to such person, if required by law to have been so delivered, at or prior to the written confirmation of the sale of the shares to such person, and if the prospectus
(as so amended or supplemented) would have cured the defect giving rise to such loss, claim, damage or liability. 
 (b)        To the extent permitted by law, each selling Holder will indemnify and hold harmless the Company, each of its directors, each of its officers who has
signed the registration statement, each person, if any, who controls the Company within the meaning of the Act, legal counsel and accountants for the Company, any underwriter, any other Holder selling securities in such registration statement and
any controlling person of any such underwriter or other Holder, against any losses, claims, damages or liabilities (joint or several) to 

  
 9 

 
which any of the foregoing persons may become subject, under the Act, the 1934 Act, any state securities laws or any rule or regulation promulgated under the Act, the 1934 Act or any state
securities laws, insofar as such losses, claims, damages or liabilities (or actions in respect thereto) arise out of or are based upon any Violation, in each case to the extent (and only to the extent) that such Violation occurs in reliance upon and
in conformity with written information furnished by such Holder expressly for use in connection with such registration; and each such Holder will reimburse any person intended to be indemnified pursuant to this subsection 1.9(b) for any legal or
other expenses reasonably incurred by such person in connection with investigating or defending any such loss, claim, damage, liability or action as such expenses are incurred; provided, however, that the indemnity agreement contained in this
subsection 1.9(b) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected without the consent of the Holder (which consent shall not be unreasonably withheld), and provided
that in no event shall any indemnity under this subsection 1.9(b) exceed the net proceeds from the offering received by such Holder. 
 (c)        Promptly after receipt by an indemnified party under this Section 1.9 of notice of the commencement of any action (including any governmental
action), such indemnified party will, if a claim in respect thereof is to be made against any indemnifying party under this Section 1.9, deliver to the indemnifying party a written notice of the commencement thereof and the indemnifying party
shall have the right to participate in and, to the extent the indemnifying party so desires, jointly with any other indemnifying party similarly noticed, to assume the defense thereof with counsel mutually satisfactory to the parties; provided,
however, that an indemnified party (together with all other indemnified parties that may be represented without conflict by one counsel) shall have the right to retain one separate counsel, with the fees and expenses to be paid by the indemnifying
party, if representation of such indemnified party by the counsel retained by the indemnifying party would be inappropriate due to actual or potential differing interests between such indemnified party and any other party represented by such counsel
in such proceeding. The failure to deliver written notice to the indemnifying party within a reasonable time of the commencement of any such action, if prejudicial to its ability to defend such action, shall relieve such indemnifying party of
liability to the indemnified party under this Section 1.9 to the extent of such prejudice, but the omission to so deliver written notice to the indemnifying party will not relieve it of any liability that it may have to any indemnified party
otherwise than under this Section 1.9. 
 (d)        If the
indemnification provided for in this Section 1.9 is held by a court of competent jurisdiction to be unavailable to an indemnified party with respect to any loss, liability, claim, damage or expense referred to herein, then the indemnifying
party, in lieu of indemnifying such indemnified party hereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such loss, liability, claim, damage or expense in such proportion as is appropriate to reflect
the relative fault of the indemnifying party on the one hand and the indemnified party on the other hand in connection with the statements or omissions that resulted in such loss, liability, claim, damage or expense, as well as any other relevant
equitable considerations; provided, however, that no contribution by any Holder, when combined with any amounts paid by such Holder pursuant to Section 1.9(b), shall exceed the net proceeds from the offering received by such Holder. The
relative fault of the indemnifying party and the indemnified party shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material
fact relates to information supplied by the indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. 

  
 10 

 (e)        Notwithstanding the
foregoing, to the extent that the provisions on indemnification and contribution contained in the underwriting agreement entered into in connection with the underwritten public offering are in conflict with the foregoing provisions, the provisions
in the underwriting agreement shall control. 
 (f)        The
obligations of the Company and Holders under this Section 1.9 shall survive the completion of any offering of Registrable Securities in a registration statement under this Section 1 and otherwise. 

1.10       Reports Under the 1934 Act.   With a view to making available
to the Holders the benefits of Rule 144 and any other rule or regulation of the SEC that may at any time permit a Holder to sell securities of the Company to the public without registration or pursuant to a registration on Form S-3, the Company
agrees to: 
 (a)        make and keep public information available, as
those terms are understood and defined in Rule 144, at all times after the effective date of the Initial Offering; 
 (b)        file with the SEC in a timely manner all reports and other documents required of the Company under the Act and the 1934 Act; 

(c)        furnish to any Holder, so long as the Holder owns any Registrable
Securities, forthwith upon request (i) a written statement by the Company that it has complied with the reporting requirements of Rule 144 (at any time after ninety (90) days after the effective date of the first registration statement
filed by the Company), the Act and the 1934 Act (at any time after it has become subject to such reporting requirements), or that it qualifies as a registrant whose securities may be resold pursuant to Form S-3 (at any time after it so qualifies),
(ii) a copy of the most recent annual or quarterly report of the Company and such other reports and documents so filed by the Company, and (iii) such other information as may be reasonably requested to avail any Holder of any rule or
regulation of the SEC that permits the selling of any such securities without registration or pursuant to such form; and 
 (d)        furnish, or cause the Company’s transfer agent to furnish, no later than three business days after a supportable request therefor, unlegended stock
certificates in connection with sales of Registrable Securities by a Holder pursuant to Rule 144. 

1.11       Assignment of Registration Rights.   The rights to cause the
Company to register Registrable Securities pursuant to this Section 1 may be assigned (but only with all related obligations) by a Holder to a transferee or assignee of such securities that (i) is a subsidiary, parent, partner, limited
partner, retired partner or stockholder of a Holder, (ii) is a Holder’s family member or trust for the benefit of an individual Holder, (iii) is an Advisory Account advised by the same Investment Adviser as such Holder or
(iv) after such assignment or transfer, holds at least 3,000,000 shares of Registrable Securities (subject to appropriate adjustment for stock splits, stock dividends, combinations or the like), provided: (a) the

  
 11 

 
Company is, within a reasonable time after such transfer, furnished with written notice of the name and address of such transferee or assignee and the securities with respect to which such
registration rights are being assigned; (b) such transferee or assignee agrees in writing to be bound by and subject to the terms and conditions of this Agreement, including, without limitation, the provisions of Section 1.13 below; and
(c) such assignment shall be effective only if immediately following such transfer the further disposition of such securities by the transferee or assignee is restricted under the Act. 

1.12       Limitations on Subsequent Registration Rights.   From and
after the date of this Agreement, the Company shall not, without the prior written consent of the Holders of a majority of the Registrable Securities, enter into any agreement with any holder or prospective holder of any securities of the Company
that would allow such holder or prospective holder (a) to include any of such securities in any registration filed under Section 1.2, Section 1.3 or Section 1.4 hereof, unless under the terms of such agreement, such holder or
prospective holder may include such securities in any such registration only to the extent that the inclusion of such securities will not reduce the amount of the Registrable Securities of the Holders that are included or (b) to demand
registration of their securities. 
 1.13       “Market Stand-Off”
Agreement. 
 (a)        Each Holder hereby agrees that it will
not, without the prior written consent of the managing underwriter, during the period commencing on the date of the final prospectus relating to the initial underwritten offering of the Company’s Common Stock and ending on the date specified by
the Company and the managing underwriter (such period not to exceed one hundred eighty (180) days) (i) lend, offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any
option, right or warrant to purchase, or otherwise transfer or dispose of, directly or indirectly, any shares of Common Stock or any securities convertible into or exercisable or exchangeable for Common Stock, in each case held immediately prior to
the effectiveness of the registration statement for such offering (the “Registration Statement”), or (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of
ownership of Common Stock held immediately prior to the effectiveness of the Registration Statement, whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of Common Stock or other securities, in
cash or otherwise. For the sake of added clarity, no securities of any kind purchased pursuant to the Registration Statement or after the effectiveness of the Registration Statement are subject to this Section 1.13. The foregoing provisions of
this Section 1.13 shall not apply to the sale of any shares to an underwriter pursuant to an underwriting agreement and shall only be applicable to the Holders if (x) all officers, directors and greater than two percent
(2%) stockholders of the Company enter into similar agreements and (y) to the extent the underwriters grant any early termination or exclusion from the terms of the lock up agreement, such underwriters apply the same exclusion or
termination pro rata among the Holders who are subject to a lock up agreement based on the number of shares subject to such agreements. The Company shall use commercially reasonable efforts to require the underwriters in connection with such
offering to include each provision in the immediately preceding sentence of this Section 1.13 in any subsequent agreement presented to the Investors. The underwriters in connection with such offering are intended third-party beneficiaries of
this Section 1.13 and shall have the right, power and authority to enforce the provisions hereof as 

  
 12 

 
though they were a party hereto. Each Holder further agrees to execute such agreements as may be reasonably requested by the underwriters in such offering that are consistent with this
Section 1.13 or that are necessary to give further effect thereto. 
 In order to enforce the foregoing
covenant, the Company may impose stop-transfer instructions with respect to the Registrable Securities of each Holder (and the shares or securities of every other person subject to the foregoing restriction) until the end of such period.
Notwithstanding the foregoing, if (i) during the last seventeen (17) days of the one hundred eighty (180)-day restricted period, the Company issues an earnings release or material news or a material event relating to the Company occurs; or
(ii) prior to the expiration of the one hundred eighty (180)-day restricted period, the Company announces that it will release earnings results during the sixteen (16)-day period beginning on the last day of the one hundred eighty (180)-day
period, the restrictions imposed by this Section 1.13 shall continue to apply until the expiration of the eighteen (18)-day period beginning on the issuance of the earnings release or the occurrence of the material news or material event. The
Company shall provide prompt written notice of any extension to each affected Holder. 

(b)        Each Holder agrees that a legend reading substantially as follows
shall be placed on all certificates representing all Registrable Securities of each Holder (and the shares or securities of every other person subject to the restriction contained in this Section 1.13): 

THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A LOCK-UP PERIOD OF UP TO 180 DAYS AFTER THE EFFECTIVE DATE
OF THE ISSUER’S FIRST REGISTRATION STATEMENT FILED UNDER THE ACT, AS AMENDED, AS SET FORTH IN AN AGREEMENT BETWEEN THE COMPANY AND THE ORIGINAL HOLDER OF THESE SECURITIES, A COPY OF WHICH MAY BE OBTAINED AT THE ISSUER’S PRINCIPAL OFFICE.
SUCH LOCK-UP PERIOD IS BINDING ON TRANSFEREES OF THESE SHARES. 
 1.14      
Termination of Registration Rights.   No Holder shall be entitled to exercise any right provided for in this Section 1 (i) after two (2) years following the consummation of the Initial Offering or (ii) after the
consummation of a Liquidation Event, as that term is defined in the Company’s Amended and Restated Articles of Incorporation (as amended from time to time). 

2.         Covenants of the Company. 

2.1         Delivery of Financial Statements.   The Company
shall deliver to (x) each Investor (or transferee of an Investor) that holds at least 6,000,000 shares of Preferred Stock (subject to appropriate adjustment for stock splits, stock dividends, combinations or the like), or, in the case of
holders of Series F Preferred Stock that are not Advisory Accounts, at least 150,000 shares of Series F Preferred Stock (subject to appropriate adjustment for stock splits, stock dividends, combinations or the like) and (y) to each Investment
Adviser (as identified on the signature pages hereto) of any Investor that is an Advisory Account (each, an “Information Recipient”): 

  
 13 

 (a)        (i) as soon as
practicable, but in any event within ninety (90) days after the end of each fiscal year of the Company, an income statement for such fiscal year, a balance sheet of the Company and statement of stockholders’ equity as of the end of such
year, and a statement of cash flows for such year, such year-end financial reports (the “Annual Financials”) to be in reasonable detail and prepared in accordance with generally accepted accounting principles (“GAAP”), and
(ii) as soon as practicable, but in any event within one hundred twenty (120) days after the end of each fiscal year of the Company, the Annual Financials audited and certified by independent public accountants of nationally recognized
standing selected by the Company; 
 (b)        as soon as practicable,
but in any event within forty-five (45) days after the end of each of the first three (3) quarters of each fiscal year of the Company, an unaudited income statement, statement of cash flows for such fiscal quarter and an unaudited balance
sheet as of the end of such fiscal quarter; 
 (c)        upon request
by any Information Recipient, within thirty (30) days of the end of each month, an unaudited income statement and statement of cash flows and balance sheet for and as of the end of such month, each in reasonable detail, together with a current
summary capitalization table; 
 (d)        no later than five business
days after approval thereof, but in any event no later than sixty (60) days after the end of each fiscal year, a budget and business plan for the next fiscal year, including balance sheets, income statements and statements of cash flows for
such fiscal year and, as soon as prepared, any other budgets or revised budgets prepared by the Company; 

(e)        as soon as practicable, but in any event no later than 15 business
days after the occurrence of the event, notice of any stock split, stock dividend or other corporate event affecting the capitalization of the Company; 
 (f)        such other information relating to the financial condition, business or corporate affairs of the Company as any Information Recipient may from time to
time request, provided, however, that the Company shall not be obligated under this subsection (f) or any other subsection of Section 2.1 to provide information that it deems in good faith to be a trade secret or similar confidential
information; and 
 (g)        at the same time and in the same manner
as such materials are delivered to its Board, all materials, financial or otherwise, which the Company provides to its Board in connection with meetings of the Board; provided, however, that the Company reserves the right to exclude access to any
materials (or portion thereof) if the Company believes upon the advice of counsel that such exclusion is reasonably necessary to preserve the attorney client privilege, to protect highly confidential information or for similar reasons. The decision
of the Board with respect to the privileged or confidential nature of such information shall be final and binding. 

  
 14 

 Notwithstanding anything else in this Section 2.1 to the contrary, the Company may
cease providing the information set forth in this Section 2.1 during the period starting with the date thirty (30) days before the Company’s good-faith estimate of the date of filing of a registration statement if it reasonably
concludes upon the advice of counsel it must do so to comply with the SEC rules applicable to such registration statement and related offering; provided that the Company’s covenants under this Section 2.1 shall be reinstated at such time
as the Company is no longer actively employing commercially reasonable efforts to cause such registration statement to become effective. 
 2.2         Inspection.   The Company shall permit each Information Recipient, at such Information Recipient’s expense, to visit and inspect
the Company’s properties, to examine its books of account and records and to discuss the Company’s affairs, finances and accounts with its officers, all at such reasonable times as may be requested by such Information Recipient; provided,
however, that the Company shall not be obligated pursuant to this Section 2.2 to provide access to any information that it reasonably considers to be a trade secret or similar confidential information. 

2.3         Termination of Information and Inspection
Covenants.   The covenants set forth in Sections 2.1 and 2.2 shall terminate and be of no further force or effect upon the earlier to occur of (i) the consummation of the sale of securities pursuant to a registration statement
filed by the Company under the Act in connection with the firm commitment underwritten offering of its securities to the general public or (ii) when the Company first becomes subject to the periodic reporting requirements of Sections 12(g) or
15(d) of the 1934 Act, whichever event shall first occur. 

2.4         Right of First Offer.   Subject to the terms and
conditions specified in this Section 2.4, the Company hereby grants to each Investor (or transferee of an Investor) that (a) holds at least 6,000,000 shares of Preferred Stock or (b) at least 150,000 shares of Series F Preferred Stock
(in each case, subject to appropriate adjustment for stock splits, stock dividends, combinations or the like) or (c) is an Advisory Account (each, a “Major Investor”) a right of first offer with respect to future sales by the Company
of its Shares (as hereinafter defined). For purposes of this Section 2.4, the term “Major Investor” includes any general partners and affiliates of a Major Investor, including Affiliated Advisory Accounts. A Major Investor shall be
entitled to apportion the right of first offer hereby granted it among itself and its partners, affiliates and Affiliated Advisory Accounts in such proportions as it deems appropriate. 

Each time the Company proposes to offer any shares of, or securities convertible into or exchangeable or exercisable for
any shares of, its capital stock (“Shares”), the Company shall first make an offering of such Shares to each Major Investor in accordance with the following provisions: 

(a)        The Company shall deliver a notice in accordance with
Section 3.5 (“Notice”) to the Major Investors stating (i) its bona fide intention to offer such Shares, (ii) the number of such Shares to be offered and (iii) the price and terms upon which it proposes to offer such
Shares. 
 (b)        By written notification received by the Company
within twenty (20) calendar days after the giving of Notice, each Major Investor may elect to purchase, at the price and on the terms specified in the Notice, up to that portion of such Shares that equals

  
 15 

 
the proportion that the number of shares of Common Stock that are Registrable Securities issued and held by such Major Investor (assuming full conversion and exercise of all convertible and
exercisable securities then outstanding) bears to the total number of shares of Common Stock of the Company then outstanding (assuming full conversion and exercise of all convertible and exercisable securities then outstanding) (such Major
Investor’s “Pro Rata Share”). 
 (c)        If any Major
Investor fails to exercise its rights under this Section 2.4 or elects to exercise such rights with respect to less than such Major Investor’s full Pro Rata Share (the difference between such Major Investor’s Pro Rata Share and the
number of Shares for which such Major Investor exercised its rights under this Section 2.4 the “Excess Shares”), any participating Major Investor electing to exercise its rights with respect to its full Pro Rata Share (a
“Fully Participating Shareholder”) shall be entitled to purchase from the Company an additional number of Shares up to the aggregate number of Excess Shares, provided that such Fully Participating Shareholder shall only be entitled
to purchase up to that number of Excess Shares equal to the lesser of (i) the number of Excess Shares it has elected to purchase and (ii) the number of Excess Shares equal to the product of (A) the number of Excess Shares and
(B) the quotient obtained by dividing (1) the total number of shares of Common Stock then owned by such Fully Participating Shareholder by (2) the total number of shares of Common Stock then owned by all Fully Participating
Shareholders exercising their rights pursuant to this sentence (assuming the conversion of all Preferred Stock held by the Fully Participating Shareholders into Common Stock in each of clauses (1) and (2) above). 

(d)        If all Shares that Major Investors are entitled to obtain pursuant to
subsection 2.4(b) are not elected to be obtained as provided in subsection 2.4(b) hereof, the Company may, during the ninety (90) day period following the expiration of the period provided in subsection 2.4(b) hereof, offer the remaining
unsubscribed portion of such Shares to any person or persons at a price not less than that, and upon terms no more favorable to the offeree than those, specified in the Notice. If the Company does not enter into an agreement for the sale of the
Shares within such period, or if such agreement is not consummated within sixty (60) days of the execution thereof, the right provided hereunder shall be deemed to be revived and such Shares shall not be offered unless first reoffered to the
Major Investors in accordance herewith. 
 (e)        The right of
first offer in this Section 2.4 shall not be applicable to (i) the issuance or sale of shares of Common Stock (or options therefor) to employees, directors, consultants and other service providers for the primary purpose of soliciting or
retaining their services pursuant to plans or agreements approved by the Company’s Board of Directors; (ii) the issuance of securities pursuant to a bona fide, firmly underwritten public offering of shares of Common Stock registered under
the Act, (iii) the issuance of securities pursuant to the conversion or exercise of convertible or exercisable securities, (iv) the issuance of securities in connection with a bona fide business acquisition of or by the Company, whether by
merger, consolidation, sale of assets, sale or exchange of stock or otherwise, (v) the issuance and sale of Series F Preferred Stock pursuant to the Series F Agreement or (vi) the issuance of stock, warrants or other securities or rights
to persons or entities with which the Company has business relationships (including, without limitation, any equipment leasing arrangement or debt financing arrangement), provided such issuances are primarily for other than equity financing
purposes. In addition to the foregoing, the right of first offer in this Section 2.4 

  
 16 

 
shall not be applicable with respect to any Major Investor in any subsequent offering of Shares if (i) at the time of such offering, the Major Investor is not an “accredited
investor,” as that term is then defined in Rule 501(a) of the Act and (ii) such offering of Shares is otherwise being offered only to accredited investors. 

(f)        The rights provided in this Section 2.4 may not be assigned or
transferred by any Major Investor (except as otherwise set forth herein); provided, however, that a Major Investor that is a (i) venture capital fund may assign or transfer such rights to an affiliated venture capital fund or (ii) and
Advisory Account may assign or transfer such rights to an Affiliated Advisory Account. 

(g)        The covenants set forth in this Section 2.4 shall terminate and
be of no further force or effect upon the consummation of (i) the Company’s sale of its Common Stock or other securities pursuant to a registration statement under the Act (other than a registration statement relating either to the sale of
securities to employees of the Company pursuant to its stock option, stock purchase or similar plan or a SEC Rule 145 transaction) or (ii) a Liquidation Event, as that term is defined in the Company’s Amended and Restated Articles of
Incorporation (as amended from time to time). 

(h)        Notwithstanding the foregoing, in the event (i) Aneel Bhusri
(“Bhusri”) no longer provides service to the Company as an employee, consultant or member of the Board of Directors of the Company, Greylock XI Limited Partnership, Greylock XI-A Limited Partnership and Greylock XI Principals LLC
(collectively, “Greylock”) will not be entitled to the right of first offer under, and shall be deemed to not be a “Major Investor” for purposes of, this Section 2.4, or (ii) Bhusri is no longer a full time employee of
Greylock Management Corporation (“Greylock Management”) or otherwise materially reduces the amount of time he spends providing services to Greylock Management, then Greylock shall be entitled to the right of first offer under, and shall be
deemed a “Major Investor” for purposes of, this Section 2.4 only with the prior written consent of Duffield Investment Group, LLC. In addition, for purposes of this Section 2.4, the number of shares of Common Stock that are
Registrable Securities issued and held by Greylock shall be deemed to include shares of Common Stock that are Registrable Securities issued and held by the “Greylock Related Investors” indicated on Schedule A hereto. 

2.5         Certain Tax Matters.   The Company shall provide
prompt notice to New Enterprise Associates 12, Limited Partnership (“NEA 12”) and New Enterprise Associates 13, L.P. (“NEA 13”) following any “determination date” (as defined in Treasury Regulation
Section 1.897-2(c)(1)) on which the Company becomes a United States real property holding corporation. In addition, upon a written request by NEA 12 or NEA 13, the Company shall provide NEA 12 or NEA 13, as appropriate, with a written statement
informing NEA 12 or NEA 13, as appropriate, whether NEA 12 or NEA 13’s interest in the Company constitutes a United States real property interest. The Company’s determination shall comply with the requirements of Treasury Regulation
Section 1.897-2(h)(1) or any successor regulation, and the Company shall provide timely notice to the Internal Revenue Service, in accordance with and to the extent required by Treasury Regulation Section 1.897-2(h)(2) or any successor
regulation, that such statement has been made. The Company’s written statement to NEA 12 or NEA 13 shall be delivered to NEA 12 or NEA 13 within 10 days of NEA 12 or NEA 13’s written request

  
 17 

 
therefor. The Company’s obligation to furnish such written statement shall continue notwithstanding the fact that a class of the Company’s stock may be regularly traded on an
established securities market or the fact that there is no preferred stock then outstanding. 

2.6         Committee Matters.   The director of the Company
elected by the holders of Series E Preferred Stock shall at all times have the right to be a member of any compensation committee of the Board of Directors. 
 2.7         Restrictions on Sales of Control of the Company.   No Investor shall be a party to any Stock Sale (as defined below) unless all holders
of Preferred Stock are allowed to participate in such transaction and the consideration received pursuant to such transaction is allocated among the parties thereto in the manner specified in the Company’s Articles of Incorporation (as if such
transaction were a Liquidation Event under the Articles of Incorporation), unless (i) the holders of a majority of the outstanding Preferred Stock (voting together as a single class and not as separate series, and on an as-converted basis) and
(ii) the holders of a majority of the outstanding Series E Preferred Stock elect otherwise by written notice given to the Company. For the purposes hereof, “Stock Sale” means a transaction or series of related transactions in which a
person, or a group of related persons, acquires from stockholders of the Company shares of its capital stock representing more than fifty percent (50%) of the outstanding voting power of the Company. 

2.8         Termination of Certain Covenants.   Subject to the
last sentence of Section 2.5, the covenants set forth in Sections 2.5, 2.6 and 2.7 shall terminate and be of no further force or effect upon the consummation of (a) the Company’s sale of its Common Stock or other securities pursuant
to a registration statement under the Act (other than a registration statement relating either to the sale of securities to employees of the Company pursuant to its stock option, stock purchase or similar plan or a SEC Rule 145 transaction) or
(b) a Liquidation Event, as that term is defined in the Company’s Amended and Restated Articles of Incorporation (as amended from time to time). 
 2.9         Confidentiality.   Each Information Recipient and Investor agrees, severally and not jointly, to use the same degree of care as such
person uses to protect its own confidential information for any confidential information obtained pursuant to this Agreement, or otherwise as a stockholder of the Company and such person acknowledges that it will not, unless otherwise required by
law, or the rules or regulations of any national securities exchange, association or marketplace, disclose such information without the prior written consent of the Company except such information that (a) was in the public domain prior to the
time it was furnished to such person, (b) is or becomes (through no willful improper action or inaction by such person) generally available to the public, (c) was in its possession or known by such person without restriction prior to
receipt from the Company, (d) was rightfully disclosed to such person by a third party without restriction or (e) was independently developed without any use of the Company’s confidential information. Notwithstanding the foregoing,
each Information Recipient or Investor that is (i) a limited partnership or limited liability company may disclose such proprietary or confidential information to any former partners or members who retained an economic interest in such person,
or any subsequent partnership under common investment management, limited partner, general partner, member or management company of such person (or any employee or representative of any of the foregoing) or (ii) an Investment Adviser may

  
 18 

 
disclose such proprietary or confidential information to any Advisory Account it advises (or any employee or representative of any of the foregoing) (each of the foregoing persons identified in
clauses (i) or (ii), a “Permitted Disclosee”) or legal counsel, accountants or representatives for such Permitted Disclosee. As a condition to receiving information hereunder, each Permitted Disclosee (and legal counsel,
accountants or representatives for such Permitted Disclosee) shall be advised of the terms of this Agreement and shall be directed to treat any information received in accordance with this section. In addition, each Information Recipient and
Investor shall be responsible for any breaches of the terms of this section by its Permitted Disclosees (and legal counsel, accountants or representatives for such Permitted Disclosee) and each Information Recipient and Investor agrees, at
its sole expense, to take all commercially reasonable measures to restrain its Permitted Disclosees (and legal counsel, accountants or representatives for such Permitted Disclosee) from prohibited or unauthorized disclosure or use of any
confidential information. 
 3.         Miscellaneous.

 3.1         Successors and Assigns.   Except as
otherwise provided herein, the terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective successors and assigns of the parties (including transferees of any shares of Registrable Securities). Nothing in
this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as
expressly provided in this Agreement. 
 3.2         Governing
Law.   This Agreement shall be governed by and construed under the laws of the State of California as applied to agreements among California residents entered into and to be performed entirely within California. 

3.3         Counterparts.   This Agreement may be executed in
two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. For purposes of this Agreement, facsimile signatures or signatures by other electronic form of transfer
shall be deemed originals. 
 3.4         Titles and
Subtitles.   The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement. 

3.5         Notices.   All notices and other communications
given or made pursuant hereto shall be in writing and shall be deemed effectively given: (i) upon personal delivery to the party to be notified, (ii) when sent by confirmed electronic mail or facsimile if sent during normal business hours
of the recipient; if not, then on the next business day, (iii) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (iv) one (1) day after deposit with a nationally
recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications shall be sent to the respective parties at the addresses set forth on the signature pages or Schedule A attached hereto (or
at such other addresses as shall be specified by notice given in accordance with this Section 3.5). 

  
 19 

3.6        Expenses.   If any action at law or in equity is
necessary to enforce or interpret the terms of this Agreement, the prevailing party shall be entitled to reasonable attorneys’ fees, costs and necessary disbursements in addition to any other relief to which such party may be entitled.

 3.7        Entire Agreement;   Amendments and
Waivers. This Agreement (including the Exhibits hereto, if any) constitutes the full and entire understanding and agreement among the parties with regard to the subjects hereof and thereof. Any term of this Agreement (other than
Section 2.1, Section 2.2, Section 2.3 and Section 2.4) may be amended and the observance of any term of this Agreement may be waived (either generally or in a particular instance and either retroactively or prospectively) only
with the written consent of the Company and the holders of a majority of the Registrable Securities. The provisions of Section 2.1, Section 2.2 and Section 2.3 may be amended or waived (either generally or in a particular instance and
either retroactively or prospectively) only with the written consent of the Company and the holders of a majority of the Registrable Securities that are held by Information Recipients. The provisions of Section 2.4 may be amended or waived
(either generally or in a particular instance and either retroactively or prospectively) only with the written consent of the Company and the holders of a majority of the Registrable Securities that are held by Major Investors; provided, however,
that notwithstanding any waiver of any of the provisions of Section 2.4, in the event any Major Investor actually purchases Shares in any offering by the Company, then each other Major Investor shall be permitted to participate in such offering
on a pro rata basis (based on the level of participation of the other Major Investor purchasing the largest portion of such Major Investor’s pro rata share), in accordance with the other provisions (including notice and election periods) set
forth in Section 2.4. In addition, if an amendment materially and adversely affects Greylock, NEA 12, NEA 13 or NEA Ventures 2009, L.P. in a manner different than the other Investors or Major Investors, as appropriate, such amendment shall also
require the written consent of Greylock XI Limited Partnership, NEA 12, NEA 13 or NEA Ventures 2009, L.P., as applicable. Any amendment or waiver effected in accordance with this paragraph shall be binding upon each holder of any Registrable
Securities, each future holder of all such Registrable Securities, and the Company. 

3.8        Severability.   If one or more provisions of this
Agreement are held to be unenforceable under applicable law, such provision(s) shall be excluded from this Agreement and the balance of the Agreement shall be interpreted as if such provision(s) were so excluded and shall be enforceable in
accordance with its terms. 
 3.9        Aggregation of
Stock.   All shares of Registrable Securities or Preferred Stock held or acquired by affiliated entities (including affiliated venture capital funds and Affiliated Advisory Accounts) or persons shall be aggregated together for the
purpose of determining the availability of any rights under this Agreement. 

3.10        Waiver of Right of First Offer and Notice.   The
undersigned holders of Preferred Stock of the Company, which holders together hold at least a majority of the Registrable Securities (as such term is defined in the Prior Agreement), on behalf of themselves and all Investors (as such term is defined
in the Prior Agreement), hereby unconditionally waive all rights to notice and rights of first offer set forth in Section 2.4 of the Prior Agreement with respect to the Series F Preferred Stock issued pursuant to the Series F Agreement
(including any such rights granted to A. George Battle pursuant to his offer letter dated as of March 1, 2007 and George J. Still pursuant to his offer letter dated as of November 4, 2009). 

  
 20 

 3.11        Additional
Investors.   Notwithstanding Section 3.7, no consent shall be necessary to add additional Investors as signatories to this Agreement, provided that such Investors have purchased Series F Preferred Stock pursuant to the subsequent
closing provisions of Section 1.3 of the Series F Agreement. 

3.12        Termination of Prior Agreement.   Upon the
effectiveness of this Agreement, the Prior Agreement shall be amended and restated in full and be of no further force and effect, and shall be superseded and replaced in its entirety by this Agreement. 

[Signature pages follow] 

  
 21 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

					
		 	WORKDAY, INC.
			
		 	By:	 	/s/ Michael A. Stankey
		 		 	Name: Michael A. Stankey
		 		 	Title: President
		
	Address:    	 	6230 Stoneridge Mall Road
		 	Pleasanton, CA 94588

  
 SIGNATURE
PAGE TO WORKDAY, INC. 
 AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	 INVESTORS:
  

DUFFIELD INVESTMENT GROUP, LLC

 
			
		
	By:	 	/s/ David A. Duffield

 
			
		
	Name:	 	David A. Duffield
		
	Title:	 	Manager

  
 SIGNATURE
PAGE TO WORKDAY, INC. 
 AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement effective as of the date first above written. 
  

			
	 INVESTORS:
  

NEW ENTERPRISE ASSOCIATES 13, L.P.

		
	By:	 	NEA Partners 13, L.P., its general partner
	By:	 	NEA 13 GP, LTD, its general partner
		
	By:	 	/s/ Louis S. Citron

 
			
		
	Name:	 	Louis S. Citron

 
			
		
	Title:	 	Chief Legal Officer

  
 SIGNATURE
PAGE TO WORKDAY, INC. 
 AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement effective as of the date first above written. 
  

			
	 INVESTORS:
  

NEW ENTERPRISE ASSOCIATES 12, LIMITED PARTNERSHIP

		
	By:	 	 NEA Partners 12, Limited Partnership,
 its general partner

		
	By:	 	NEA 12 GP, LLC, its general partner
		
	By:	 	/s/ Louis S. Citron

 
			
		
	Name:	 	Louis S. Citron

 
			
		
	Title:	 	Chief Legal Officer

  
 SIGNATURE
PAGE TO WORKDAY, INC. 
 AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement effective as of the date first above written. 
  

			
	 INVESTORS:
  

NEA VENTURES 2009, L.P.

		
	By:	 	/s/ Louis S. Citron

 
			
		
	Name:	 	Louis S. Citron
		
	Title:	 	Vice President

  
 SIGNATURE
PAGE TO WORKDAY, INC. 
 AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement effective as of the date first above written. 
  

			
	 INVESTORS:
  

A. GEORGE BATTLE

	
	/s/ A. George Battle

  
 SIGNATURE
PAGE TO WORKDAY, INC. 
 AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	 INVESTORS:
  

GREYLOCK XI LIMITED PARTNERSHIP

		
	By:	 	         Greylock XI GP Limited Partnership,

        its general Partner

		
	By:	 	/s/ Donald A. Sullivan

 
			
	Name:	 	Donald A. Sullivan
	Title:	 	Administrative Partner

 
			
	
	GREYLOCK XI-A LIMITED PARTNERSHIP
		
	By:	 	         Greylock XI GP Limited Partnership,

        its general Partner

		
	By:	 	/s/ Donald A. Sullivan

 
			
	Name:	 	Donald A. Sullivan
	Title:	 	Administrative Partner

 
			
	
	GREYLOCK XI PRINCIPALS LLC
		
	By:	 	         Greylock Management Corporation,

        Sole Member

		
	By:	 	/s/ Donald A. Sullivan

 
			
	Name:	 	Donald A. Sullivan
	Title:	 	Treasurer

  
 SIGNATURE
PAGE TO WORKDAY, INC. 
 AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement effective as of the date first above written. 
  

			
	 INVESTOR:
  

STILL FAMILY PARTNERS, A CALIFORNIA LIMITED PARTNERSHIP FORMED 3-26-1996

		
	By:	 	/s/ George J. Still, Jr.

 
			
		
	Name:	 	George J. Still, Jr.

 
			
		
	Title:	 	MGP

  
 SIGNATURE
PAGE TO WORKDAY, INC. 
 AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement effective as of the date first above written. 
  

			
	 INVESTOR:
  

Transamerica Series Trust — Transamerica Morgan Stanley Growth Opportunities VP

		
	By:	 	Morgan Stanley Investment Management Inc.
	Sub-Adviser
		
	By:	 	/s/ Sandeep Chainani
	Name: Sandeep Chainani
	Title: Managing Director
	
	VALIC Company I — Mid Cap Strategic Growth Fund
		
	By:	 	Morgan Stanley Investment Management Inc.
	Sub-Adviser
		
	By:	 	/s/ Sandeep Chainani
	Name: Sandeep Chainani
	Title: Managing Director
	
	Morgan Stanley Investment Management Small Company Growth Trust
		
	By:	 	State Street Bank Trust Company 
	Trustee
		
	By:	 	/s/ Dennis Frasu
		
	Name:	 	Dennis Frasu
		
	Title:	 	Vice President

  
 SIGNATURE
PAGE TO WORKDAY, INC. 
 AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement effective as of the date first above written. 
  

					
	INVESTOR:	 	
		
	Met Investors Series Trust — Morgan
Stanley Mid Cap Growth Portfolio	 	
		
	By: Morgan Stanley Investment Management Inc.
Sub-Adviser	 	
			
	By:	 	 /s/ Sandeep Chainani
	 	
	Name: Sandeep Chainani	 	
	Title: Managing Director	 	

  

					
		
	Transamerica Series Trust — Transamerica
Morgan Stanley Mid-Cap Growth VP	 	
		
	By: Morgan Stanley Investment Management Inc. 
Sub-Adviser	 	
			
	By:	 	 /s/ Sandeep Chainani
	 	
	Name: Sandeep Chainani	 	
	Title: Managing Director	 	

  

					
		
	Transamerica Funds — Transamerica
Morgan Stanley Growth Opportunities	 	
		
	By: Morgan Stanley Investment Management Inc.
Sub-Adviser	 	
			
	By:	 	 /s/ Sandeep Chainani
	 	
	Name: Sandeep Chainani	 	
	Title: Managing Director	 	

  
 SIGNATURE
PAGE TO WORKDAY, INC. 
 AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement effective as of the date first above written. 
  

					
	INVESTOR:	 	
		
	Allianz Variable Insurance Products Trust — AZL Morgan Stanley Mid Cap Growth Fund	 	
		
	By: Morgan Stanley Investment Management Inc.
Sub-Adviser	 	
			
	By:	 	 /s/ Sandeep Chainani
	 	
	Name: Sandeep Chainani	 	
	Title: Managing Director	 	

  

					
	Transamerica Funds —Transamerica
Morgan Stanley Mid-Cap Growth	 	
		
	By: Morgan Stanley Investment Management Inc. 
Sub-Adviser	 	
			
	By:	 	 /s/ Sandeep Chainani
	 	
	Name: Sandeep Chainani	 	
	Title: Managing Director	 	

  

					
	Lawrencium Atoll Investments Ltd.	 	
		
	By: Morgan Stanley Investment Management Inc. 
Investment Manager	 	
			
	By:	 	 /s/ Sandeep Chainani
	 	
	Name: Sandeep Chainani	 	
	Title: Managing Director	 	

  
 SIGNATURE
PAGE TO WORKDAY, INC. 
 AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement effective as of the date first above written. 
  

					
	INVESTOR:	 	
		
	Morgan Stanley Mid Cap Growth Fund	 	
		
	By: Morgan Stanley Investment Management Inc.
Investment Adviser	 	
			
	By:	 	 /s/ Sandeep Chainani
	 	
	Name: Sandeep Chainani	 	
	Title: Managing Director	 	

  

					
	Morgan Stanley Select Dimensions Investment Series — Mid Cap Growth Portfolio	 	
		
	By: Morgan Stanley Investment Management Inc.
Investment Adviser	 	
			
	By:	 	 /s/ Sandeep Chainani
	 	
	Name: Sandeep Chainani	 	
	Title: Managing Director	 	

  

					
	Morgan Stanley Institutional Fund Trust — Mid Cap Growth Portfolio	 	
		
	By: Morgan Stanley Investment Management Inc.
Investment Adviser	 	
			
	By:	 	 /s/ Sandeep Chainani
	 	
	Name: Sandeep Chainani	 	
	Title: Managing Director	 	

  
 SIGNATURE
PAGE TO WORKDAY, INC. 
 AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement effective as of the date first above written. 
  

					
	INVESTOR:	 	
		
	Morgan Stanley Multi Cap Growth Trust	 	
		
	 By: Morgan Stanley Investment Management Inc.

 Investment Adviser
	 	
			
	By:	 	 /s/ Sandeep Chainani
	 	
	Name: Sandeep Chainani	 	
	Title: Managing Director	 	

  

					
	The Universal Institutional Funds, Inc. - Mid Cap Growth Portfolio	 	
		
	By: Morgan Stanley Investment Management Inc.
Investment Manager	 	
			
	By:	 	 /s/ Sandeep Chainani
	 	
	Name: Sandeep Chainani	 	
	Title: Managing Director	 	

  

					
	Morgan Stanley Institutional Fund, Inc. - Small Company Growth Portfolio	 	
		
	By: Morgan Stanley Investment Management Inc.
Investment Manager	 	
			
	By:	 	 /s/ Sandeep Chainani
	 	
	Name: Sandeep Chainani	 	
	Title: Managing Director	 	

  
 SIGNATURE
PAGE TO WORKDAY, INC. 
 AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement effective as of the date first above written. 
  

					
	INVESTOR:	 	
		
	Morgan Stanley Variable Investment Series - Multi Cap Growth Portfolio	 	
		
	By: Morgan Stanley Investment Management Inc.
Investment Manager	 	
			
	By:	 	 /s/ Sandeep Chainani
	 	
	Name: Sandeep Chainani	 	
	Title: Managing Director	 	

  

					
	Morgan Stanley Variable Investment Series - Aggressive Equity Portfolio	 	
		
	By: Morgan Stanley Investment Management Inc.
Investment Adviser	 	
			
	By:	 	 /s/ Sandeep Chainani
	 	
	Name: Sandeep Chainani	 	
	Title: Managing Director	 	

  

					
	Morgan Stanley Select Dimensions Investment Series — Multi Cap Growth Portfolio	 	
		
	By: Morgan Stanley Investment Management Inc.
Investment Adviser	 	
			
	By:	 	 /s/ Sandeep Chainani
	 	
	Name: Sandeep Chainani	 	
	Title: Managing Director	 	

  
 SIGNATURE
PAGE TO WORKDAY, INC. 
 AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement effective as of the date first above written. 
  

					
	INVESTOR:	 	
		
	AXA Premier VIP Trust — Multimanager
Small Cap Growth Portfolio	 	
		
	By: Morgan Stanley Investment Management Inc.
Sub-Adviser	 	
			
	By:	 	 /s/ Sandeep Chainani
	 	
	Name: Sandeep Chainani	 	
	Title: Managing Director	 	

  

					
	Transamerica Funds — Transamerica
Morgan Stanley Small Company Growth	 	
		
	By: Morgan Stanley Investment Management Inc.
Sub-Adviser	 	
			
	By:	 	 /s/ Sandeep Chainani
	 	
	Name: Sandeep Chainani	 	
	Title: Managing Director	 	

  
 SIGNATURE
PAGE TO WORKDAY, INC. 
 AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 
			
	 T. Rowe Price Associates, Inc.
Investment Adviser for and on behalf of:

T. Rowe Price Diversified Mid-Cap Growth Fund, Inc.

The Bunting Family III, LLC

Seasons Series Trust — Mid-Cap Growth Portfolio

The Bunting Family VI Socially Responsible LLC

Lincoln Variable Insurance Products Trust — LVIP T. Rowe Price Structured Mid Cap Growth
Fund

 ING Partners. Inc. — ING T. Rowe Price Diversified Mid Cap Growth
Portfolio

 T. Rowe Price Tax-Efficient Equity Fund

 
					
			
	By:	 	/s/ Donald Peters	 	
		 	  
	 	

 
					
	Name: Donald Peters	 	
		 	  
	 	

 
					
	Title: Vice President	 	
		 	  
	 	

  

			
	T. Rowe Price Associates, Inc.
	100 East Pratt Street
	Baltimore, MD 21202
	Attn: Andrew Baek, Vice President and Senior Legal Counsel

  

			
	T. Rowe Price Associates, Inc.
	Investment Adviser for and on behalf of:
	 T. Rowe Price Science & Technology Fund, Inc.

	 VALIC Company I — Science & Technology Fund

	 John Hancock Variable Insurance Trust — Science & Technology Trust

 
					
			
	By:	 	/s/ Ken Allen	 	
		 	  
	 	

 
					
	Name: Ken Allen	 	
		 	  
	 	

 
					
	Title: VP	 	
		 	  
	 	

  

			
	T. Rowe Price Associates, Inc.
	100 East Pratt Street
	Baltimore, MD 21202
	Attn: Andrew Baek, Vice President and Senior Legal Counsel

  
 SIGNATURE
PAGE TO WORKDAY, INC. 
 AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 
			
	T. Rowe Price Associates, Inc.
	Investment Adviser for and on behalf of:
	T. Rowe Price New America Growth Fund
	T. Rowe Price New America Growth Portfolio

 
					
			
	By:	 	/s/ Joseph Milano	 	
		 	  
	 	

 
					
	Name: Joseph Milano	 	
		 	  
	 	

 
					
	Title: VP	 	
		 	  
	 	

  

			
	T. Rowe Price Associates, Inc.
	100 East Pratt Street
	Baltimore, MD 21202
	Attn: Andrew Baek, Vice President and Senior Legal Counsel

  
 SIGNATURE
PAGE TO WORKDAY, INC. 
 AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 
			
	T. Rowe Price Associates, Inc.
	Investment Adviser for and on behalf of:
	T. Rowe Price New Horizons Fund, Inc.
	T. Rowe Price New Horizons Trust
	T. Rowe Price U.S. Equities Trust

 
					
			
	By:	 	/s/ John H. Laporte	 	
		 	  
	 	

 
					
	Name: John H. Laporte	 	
		 	  
	 	

 
					
	Title: Vice President	 	
		 	  
	 	

  

			
	T. Rowe Price Associates, Inc.
	100 East Pratt Street
	Baltimore, MD 21202
	Attn: Andrew Baek, Vice President and Senior Legal Counsel

  

			
	T. Rowe Price Associates, Inc.
	Investment Adviser for and on behalf of:
	T. Rowe Price Global Technology Fund, Inc.
	TD Mutual Funds — TD Science & Technology Fund

 
					
			
	By:	 	/s/ David J. Eiswert	 	
		 	  
	 	

 
					
	Name: David J. Eiswert	 	
		 	  
	 	

 
					
	Title: Vice President	 	
		 	  
	 	

  

			
	T. Rowe Price Associates, Inc.
	100 East Pratt Street
	Baltimore, MD 21202
	Attn: Andrew Baek, Vice President and Senior Legal Counsel

  
 SIGNATURE
PAGE TO WORKDAY, INC. 
 AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement effective as of the date first above written. 
  

			
	 T. Rowe Price Associates, Inc.
Investment Adviser for and on behalf of:

T. Rowe Price Mid-Cap Growth Fund, Inc.

T. Rowe Price Institutional Mid-Cap Equity Growth Fund

T. Rowe Price Mid-Cap Growth Portfolio

T. Rowe Price U.S. Equities Trust

JNL Series Trust — JNL/T. Rowe Price Mid-Cap Growth Fund

Maxim Series Fund, Inc. — Maxim/ T. Rowe Price

MidCap Growth Portfolio

TD Mutual Funds — TD U.S. Mid-Cap Growth Fund

MassMutual Select Funds — MassMutual Select Mid Cap Growth Equity II Fund

MML Series Investment Fund — MML Mid Cap Growth Fund

State of California — Savings Plus Program

Met Investors Series Trust — T. Rowe Price Mid Cap Growth Portfolio

Marriott International, Inc. Employees’ Profit Sharing, Retirement and Savings Plan and
Trust

 
					
			
	By:	 	/s/ Brian Berghuis	 	
		 	  
	 	

 
					
	Name: Brian Berghuis	 	
		 	  
	 	

 
					
	Title: Vice President	 	
		 	  
	 	

  

			
	T. Rowe Price Associates, Inc.
	100 East Pratt Street
	Baltimore, MD 21202
	Attn: Andrew Baek, Vice President and Senior Legal Counsel

  
 SIGNATURE
PAGE TO WORKDAY, INC. 
 AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	INVESTORS:
	
	FIDELITY CONTRAFUND: FIDELITY
CONTRAFUND
		
	By:	 	Fidelity Investments
	
	 By: /s/ Jeffrey Christian

 
					
		 	  
	 	

 
					
	Name: Jeffrey Christian	 	
		 	  
	 	

 
					
	Title: Deputy Treasurer	 	
		 	  
	 	

  
 SIGNATURE
PAGE TO WORKDAY, INC. 
 AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	INVESTORS:
	
	FIDELITY CONTRAFUND: FIDELITY ADVISOR NEW INSIGHTS FUND
		
	By:	 	Fidelity Investments
		
	By:	 	/s/ Jeffrey Christian

 
			
	Name:	 	Jeffrey Christian
	Title:	 	Deputy Treasurer

  
 SIGNATURE
PAGE TO WORKDAY, INC. 
 AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement effective as of the date first above written. 
  

			
	INVESTOR:
	
	JANUS ENTERPRISE FUND
		
	By:	 	Janus Distributors LLC
		
	By:	 	/s/ Stephanie Grauerholz

 
			
	Name:	 	Stephanie Grauerholz

 
			
	Title:	 	VP

  

			
	
	JANUS GLOBAL TECHNOLOGY FUND
	
	By: Janus Distributors LLC
		
	By:	 	/s/ Stephanie Grauerholz

 
			
	Name:	 	Stephanie Grauerholz

 
			
	Title:	 	VP

  

			
	
	GLOBAL TECHNOLOGY PORTFOLIO
	
	By: Janus Distributors LLC
		
	By:	 	/s/ Stephanie Grauerholz

 
			
	Name:	 	Stephanie Grauerholz

 
			
	Title:	 	VP

  
 SIGNATURE
PAGE TO WORKDAY, INC. 
 AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement effective as of the date first above written. 
  

			
	INVESTOR:
	
	EXPLORE HOLDINGS LLC
		
	By:  	 	/s/ Paul Dauber
	Name:  Paul Dauber
	Title:  Manager

  
 SIGNATURE
PAGE TO WORKDAY, INC. 
 AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement effective as of the date first above written. 
  

			
	INVESTOR:
	
	NORTHGATE PARTNERS, LLC
		
	By:	 	/s/ Brent Jones

 
			
		
	Name:	 	Brent Jones

 
			
		
	Title:	 	Director

  
 SIGNATURE
PAGE TO WORKDAY, INC. 
 AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement effective as of the date first above written. 
  

			
	INVESTOR:
	
	John O. Lilly
	
	 /s/ John O. Lilly

	John O. Lilly

  
 SIGNATURE
PAGE TO WORKDAY, INC. 
 AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement effective as of the date first above written. 
  

			
	INVESTOR:
	
	Jeffrey Weiner
	
	 /s/ Jeffrey Weiner

	Jeffrey Weiner

  
 SIGNATURE
PAGE TO WORKDAY, INC. 
 AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement effective as of the date first above written. 
  

			
	INVESTOR:
	
	The Anthony and Elaine LaRussa Family Trust
		
	By:	 	/s/ Anthony LaRussa

 
			
		
	Name:	 	Anthony LaRussa

 
			
		
	Title:	 	Trustee

  

					
		 	Address:	 	
		 		 	The Anthony and Elaine LaRussa Family Trust

  
 SIGNATURE
PAGE TO WORKDAY, INC. 
 AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement effective as of the date first above written. 
  

			
	INVESTOR:
	
	The Albert W. and Jane E. Duffield Revocable Trust (As Restated)
		
	By:  	 	/s/ Albert W. Duffield
		 	Albert W. Duffield, Trustee

  

			
		
	By:  	 	/s/ Jane E. Duffield
		 	Jane E. Duffield, Trustee

  
 SIGNATURE
PAGE TO WORKDAY, INC. 
 AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement effective as of the date first above written. 
  

			
	INVESTOR:
	
	DBV Investments, L.P.
		
	By:	 	/s/ Marcello Liguori

 
			
		
	Name:	 	Marcello Liguori

 
			
		
	Title:	 	Vice President

  
 SIGNATURE
PAGE TO WORKDAY, INC. 
 AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement effective as of the date first above written. 
  

			
	INVESTOR:
	
	Marnin and Margo Kligfeld Family Trust
		
	By:	 	/s/ Marnin Kligfield

 
			
		
	Name:	 	Marnin Kligfield

 
			
		
	Title:	 	Trustee

  
 SIGNATURE
PAGE TO WORKDAY, INC. 
 AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement effective as of the date first above written. 
  

			
	INVESTOR:
	
	Mark S. Peek
	
	 /s/ Mark S. Peek

	Mark S. Peek

  
 SIGNATURE
PAGE TO WORKDAY, INC. 
 AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement effective as of the date first above written. 
  

	
	INVESTOR:
	
	Michael McNamara
	
	/s/ Michael McNamara
	Michael McNamara

 SIGNATURE PAGE TO WORKDAY, INC. 

AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement effective as of the date first above written. 
  

			
	INVESTOR:
	
	 REID HOFFIYIAN & MICHELLE YEE
 TTEES REID HOFFMAN & MICHELLE
 YEE LIVING TR DTD
10/27/09

		
	By:	 	/s/ Reid Hoffman

 
			
		
	Name:	 	Reid Hoffman

 
			
		
	Title:	 	Trustee

 SIGNATURE PAGE TO WORKDAY, INC. 

AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement effective as of the date first above written. 
  

			
	INVESTOR:
	
	Allen & Company LLC as Nominee for Itself, Certain Employees and an Affiliate
		
	By:	 	/s/ Kim M. Wieland

 
			
		
	Name:	 	Kim M. Wieland

 
			
		
	Title:	 	Chief Financial Officer

 SIGNATURE PAGE TO WORKDAY, INC. 

AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

  

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first above written. 
  

			
	INVESTOR:
	
	JSY II LLC
		
	By:	 	/s/ Jon Steven Young
		 	Jon Steven Young, Manager

 SIGNATURE PAGE TO WORKDAY, INC. 

AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement effective as of the date first above written. 
  

			
	INVESTOR:
	
	THE DAVID A. DUFFIELD TRUST
		
	By:	 	/s/ Steve Hill
	
	Name: Steve Hill
	
	Title: Special Trustee

 SIGNATURE PAGE TO WORKDAY, INC. 

AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement effective as of the date first above written. 
  

					
	INVESTOR:
	
	SVB CAPITAL PARTNERS II, L.P.
		
	By:	 	/s/ Sulaiman Mamdani

 
					
		
	Name:	 	Sulaiman Mamdani

 
					
		
	Title:	 	Managing Director

 SIGNATURE PAGE TO WORKDAY, INC. 

AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement effective as of the date first above written. 
  

					
	INVESTOR:
	
	STEPHEN E. TAYLOR AND LORI SARKISIAN TAYLOR TRUST
DATED JULY 8, 2005
		
	By:	 	/s/ Stephen E. Taylor

 
					
		
	Name:	 	Stephen E. Taylor

 
					
		
	Title:	 	Trustee

 SIGNATURE PAGE TO WORKDAY, INC. 

AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 Schedule A 
 Schedule of Investors 
 New Enterprise Associates 13, L.P. 

New Enterprise Associates 12, Limited Partnership 
 NEA Ventures 2009, L.P. 
 Duffield Investment Group, LLC 

Greylock XI Limited Partnership 
 Greylock XI - A Limited Partnership 
 Greylock XI Principals LLC 

The Hurley Irrevocable Trust* 
 Russell (Jim) Ellis* 
 Samberg Community Trust* 

Ronald M Lott Family Trust Established March 9, 1992* 
 Harris S Barton and Megan Barton 2001 Trust dated January 4, 2001* 
 A. George
Battle 
 Accel Europe L.P. 
 ACT 1999 Private Equity Fund Limited Partnership 
 Annrai O’Toole 

David Clarke 

InterWest Partners IX, L.P. 
 Flextronics International Management Services, Ltd. 
 Still Family Partners, A
California Limited Partnership Formed 3-26-1996 
 QCP Fund A LP 

T. Rowe Price Mid-Cap Growth Fund, Inc. (Fund #7057) 
 T. Rowe Price Institutional Mid-Cap Equity Growth Fund (Fund #70F5) 
 T. Rowe Price
Mid-Cap Growth Portfolio (Fund #70F9) 
 T. Rowe Price U.S. Equities Trust (Fund #70X4) 

JNL Series Trust - JNL/T. Rowe Price Mid-Cap Growth Fund 
 Maxim Series Fund, Inc. - Maxim/T. Rowe Price MidCap Growth Portfolio 
 MassMutual
Select Funds - MassMutual Select Mid Cap Growth Equity II Fund (Fund #ITUH) 
 MML Series Investment Fund - MML Mid Cap Growth
Fund (Fund #ITIV) 
 State of California - Savings Plus Program 

Met Investors Series Trust - T. Rowe Price Mid Cap Growth Portfolio 

Marriott International, Inc. Employees’ Profit Sharing, Retirement and Savings Plan and Trust 

T. Rowe Price New Horizons Fund, Inc. (Fund #7001) 
 T. Rowe Price New Horizons Trust (Fund #70BJ) 
 T. Rowe Price U.S. Equities Trust
(Fund #70X4) 
 T. Rowe Price Global Technology Fund, Inc. (Fund #70I2) 

TD Mutual Funds - TD Science & Technology Fund 
 T. Rowe Price Diversified Mid-Cap Growth Fund, Inc. 
 THE BUNTING FAMILY III, LLC

 Seasons Series Trust - Mid-Cap Growth Portfolio 
 Fund - Seasons Series Trust - Mid-Cap Growth Portfolio 
 Fund #JUTF 

 THE BUNTING FAMILY VI SOCIALLY RESPONSIBLE LLC 

Lincoln Variable Insurance Products Trust - LVIP T. Rowe Price Structured Mid Cap Growth Fund 

ING Partners, Inc. - ING T. Rowe Price Diversified Mid Cap Growth Portfolio 

T. ROWE PRICE TAX-EFFICIENT EQUITY FUND (Fund #70J4) 
 T. ROWE PRICE SCIENCE & TECHNOLOGY FUND, INC. (Fund #7030) 
 VALIC COMPANY
I - SCIENCE & TECHNOLOGY FUND (Fund #F417) 
 JOHN HANCOCK VARIABLE INSURANCE TRUST - SCIENCE & TECHNOLOGY
TRUST (Fund #2C42) 
 T. ROWE PRICE NEW AMERICA GROWTH FUND (Fund #7018) 

T. ROWE PRICE NEW AMERICA GROWTH PORTFOLIO (Fund #70D2) 
 Fidelity Contrafund: Fidelity Advisor New Insights Fund 
 Fidelity Contrafund:
Fidelity Advisor New Insights Fund 
 Morgan Stanley Institutional Fund, Inc - Small Company Growth Portfolio (MGDN) 

The Universal Institutional Funds, Inc. - Mid Cap Growth Portfolio (MGHL) 

Morgan Stanley Institutional Fund Trust - Mid Cap Growth Portfolio (MGEL) 

Allianz Variable Insurance Products Trust - AZL Morgan Stanley Mid Cap Growth Fund 

Morgan Stanley Variable Investment Series — Multi Cap Growth Portfolio (MGA8) 

Morgan Stanley Variable Investment Series - The Aggressive Equity Portfolio (MGBL) 

Morgan Stanley Select Dimensions Investment Series — Multi Cap Growth Portfolio 

Morgan Stanley Multi Cap Growth Trust (MGCD) 
 Morgan Stanley Investment Management Small Company Growth Trust (6H20) 
 Morgan
Stanley Mid Cap Growth Fund (MGSN) 
 Morgan Stanley Select Dimensions Investment Series - Mid Cap Growth Portfolio (MGBR)

 Transamerica funds - Transamerica Morgan Stanley Mid-Cap Growth 

Transamerica funds - Transamerica Morgan Stanley Small Company Growth 

Met Investors Series Trust - Morgan Stanley Mid Cap Growth Portfolio 

Transamerica Series Trust - Transamerica Morgan Stanley Mid-Cap Growth VP 

Valic Company I - Mid Cap Strategic Growth Fund (F451) 
 Lawrencium Atoll Investments Ltd. (MIB3) 
 AXA Premier VIP Trust - Multimanager
Small Cap Growth Portfolio 
 (for overnight or standard mail) 

Transamerica Funds: Transamerica Morgan Stanley Growth Opportunities 

Transamerica Series Trust: Transamerica Morgan Stanley Growth Opportunities VP 

Janus Enterprise Fund 
 Janus Global Technology 
 Global Technology Portfolio 

DBV Investments, L.P. 
 Allen & Company LLC as Nominee for Itself, Certain Employees and an Affiliate 
 JSY II LLC 
 Jon Steven Young, Manager 

Michael McNamara 

  
 S-2

 John O. Lilly 
 REID HOFFMAN & MICHELLE YEE TTEES REID HOFFMAN & MICHELLE YEE LIVING TR DTD 10/27/09 
 Jeffrey Weiner 
 Northgate Partners, LLC 

Marnin and Margo Kligfeld Family Trust 
 The Albert W. and Jane E. Duffield Revocable Trust (As Restated) 
 The Anthony and
Elaine LaRussa Family Trust 
 Mark S. Peek 
 SVB Investment Partners II, L.P. 
 The David A. Duffield Trust 

S. Taylor + L. Taylor TTEE The S.E. Taylor + L.S. Taylor Trust U/A dtd 07/08/2005 

  
 S-3Form of Indemnification Agreement

 EXHIBIT 10.1 
 INDEMNITY AGREEMENT 
 This Indemnity Agreement, dated as of
                    , 2012, is made by and between Workday, Inc., a Delaware corporation (the “Company”), and
                        , a director and/or officer of the Company or one of the Company’s subsidiaries or key
employee or other service provider who satisfies the definition of Indemnifiable Person set forth below (“Indemnitee”). 
 RECITALS 
 A.        The
Company is aware that competent and experienced persons are increasingly reluctant to serve as representatives of corporations unless they are protected by comprehensive liability insurance and indemnification, due to increased exposure to
litigation costs and risks resulting from their service to such corporations, and due to the fact that the exposure frequently bears no reasonable relationship to the compensation of such representatives; 

B.        The members of the Board of Directors of the Company (the
“Board”) have concluded that to retain and attract talented and experienced individuals to serve as representatives of the Company and its Subsidiaries (as defined herein) and Affiliates (as defined herein) and to encourage such
individuals to take the business risks necessary for the success of the Company and its Subsidiaries and Affiliates, it is necessary for the Company to contractually indemnify certain of its representatives and the representatives of its
Subsidiaries and Affiliates, and to assume for itself maximum liability for Expenses (as defined herein) and Other Liabilities (as defined herein) in connection with claims against such representatives in connection with their service to the Company
and its Subsidiaries and Affiliates; 
 C.        Section 145 of
the Delaware General Corporation Law (“Section 145”), empowers the Company to indemnify by agreement its officers, directors, employees and agents, and persons who serve, at the request of the Company, as directors, officers,
employees or agents of other corporations, partnerships, joint ventures, trusts or other enterprises, and expressly provides that the indemnification provided thereby is not exclusive; and 

D.        The Company desires and has requested Indemnitee to serve or continue
to serve as a representative of the Company and/or the Subsidiaries or Affiliates of the Company free from undue concern about unreasonable claims for damages arising out of or related to such services to the Company and/or the Subsidiaries or
Affiliates of the Company. 
 AGREEMENT 
 NOW, THEREFORE, the parties hereto, intending to be legally bound, hereby agree as follows: 
 1.        Definitions. 
 (a)        Affiliate.  For purposes of this Agreement, “Affiliate” of the Company means any corporation, partnership, limited liability
company, joint venture, trust or other enterprise in respect of which Indemnitee is or was or will be serving as a director, officer, trustee, manager, member, partner, employee, agent, attorney, consultant, member of the entity’s

 
governing body (whether constituted as a board of directors, board of managers, general partner or otherwise), fiduciary, or in any other similar capacity at the request, election or direction of
the Company, and including, but not limited to, any employee benefit plan of the Company or a Subsidiary or Affiliate of the Company. 
 (b)        Change in Control.  For purposes of this Agreement, “Change in Control” means (i) any “person” (as such term is
used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended), other than a Subsidiary or a trustee or other fiduciary holding securities under an employee benefit plan of the Company or Subsidiary, is or becomes the
“Beneficial Owner” (as defined in Rule 13d-3 under said Act), directly or indirectly, of securities of the Company representing 50% or more of the total voting power represented by the Company’s then outstanding capital stock, or
(ii) during any period of two consecutive years, individuals who at the beginning of such period constitute the Board and any new director whose election by the Board or nomination for election by the Company’s stockholders was approved by
a vote of at least two-thirds (2/3) of the directors then still in office who either were directors at the beginning of the period or whose election or nomination for election was previously so approved, cease for any reason to constitute a
majority thereof, or (iii) the stockholders of the Company approve a merger or consolidation of the Company with any other corporation, other than a merger or consolidation that would result in the outstanding capital stock of the Company
outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into capital stock of the surviving entity) at least 80% of the total voting power represented by the capital stock of the Company
or such surviving entity outstanding immediately after such merger or consolidation, or the stockholders of the Company approve a plan of complete liquidation of the Company or an agreement for the sale or disposition by the Company (in one
transaction or a series of transactions) of all or substantially all of the Company’s assets. 

(c)        Expenses.  For purposes of this Agreement,
“Expenses” means all direct and indirect costs of any type or nature whatsoever (including, without limitation, all attorneys’ fees and related disbursements, bonds and other out-of-pocket costs), paid or incurred by Indemnitee in
connection with either the investigation, defense or appeal of, or being a witness in a Proceeding (as defined below), or establishing or enforcing a right to indemnification under this Agreement, Section 145 or otherwise; provided, however,
that Expenses shall not include any judgments, fines, ERISA excise taxes or penalties or amounts paid in settlement of a Proceeding. 
 (d)        Indemnifiable Event.  For purposes of this Agreement, “Indemnifiable Event” means any event or occurrence related to
Indemnitee’s service for the Company or any Subsidiary or Affiliate as an Indemnifiable Person (as defined below), or by reason of anything done or not done, or any act or omission, by Indemnitee in any such capacity. 

(e)        Indemnifiable Person.  For the purposes of this
Agreement, “Indemnifiable Person” means any person who is or was a director, officer, employee, attorney, trustee, manager, member, partner, consultant, member of an entity’s governing body (whether constituted as a board of
directors, board of managers, general partner or otherwise) or other agent or fiduciary of the Company or a Subsidiary or Affiliate of the Company. 

  
 2 

 (f)        Independent
Counsel.  For purposes of this Agreement, “Independent Counsel” means legal counsel that has not performed services for the Company or Indemnitee in the five years preceding the time in question and that would not, under
applicable standards of professional conduct, have a conflict of interest in representing either the Company or Indemnitee. 
 (g)        Other Liabilities.  For purposes of this Agreement, “Other Liabilities” means any and all liabilities of any type whatsoever
(including, but not limited to, judgments, fines, penalties, ERISA (or other benefit plan related) excise taxes or penalties, and amounts paid in settlement and all interest, taxes, assessments and other charges paid or payable in connection with or
in respect of any such judgments, fines, ERISA (or other benefit plan related) excise taxes or penalties, or amounts paid in settlement). 
 (h)        Proceeding.  For the purposes of this Agreement, “Proceeding” means any threatened, pending, or completed action, suit,
inquiry or other proceeding, whether brought by or in the right of the Company or otherwise and whether civil, criminal, administrative, investigative, legislative or any other type whatsoever, preliminary, informal or formal, including any
arbitration or other alternative dispute resolution and including any appeal of any of the foregoing. 

(i)        Reincorporated Predecessor.  For purposes of this
Agreement, “Reincorporated Predecessor” means a corporation that is merged with and into the Company in a statutory merger where (i) the Company is the surviving corporation of such merger and (ii) the primary purpose of such
merger is to change the corporate domicile of the Reincorporated Predecessor to the State of Delaware. 

(j)        Subsidiary.  For purposes of this Agreement,
“Subsidiary” means any entity of which more than 50% of the outstanding voting securities is owned directly or indirectly by the Company. 
 2.        Agreement to Serve.  The Indemnitee agrees to serve and/or continue to serve as an Indemnifiable Person in the capacity or capacities in
which Indemnitee currently serves the Company as an Indemnifiable Person, and any additional capacity in which Indemnitee may agree to serve, until such time as Indemnitee’s service in a particular capacity shall end according to the terms of
an agreement, the Company’s Certificate of Incorporation or Bylaws, governing law, or otherwise. Nothing contained in this Agreement is intended to create any right to continued employment or other form of service for the Company or a
Subsidiary or Affiliate of the Company by Indemnitee. The Company acknowledges that it has entered into this Agreement with Indemnitee to induce Indemnitee to serve as an Indemnifiable Person, and the Company further acknowledges that Indemnitee is
relying upon this Agreement in serving as an Indemnifiable Person. 

3.        Mandatory Indemnification. 

(a)        Agreement to Indemnify.  In the event Indemnitee is
a person who was or is a party to or witness in or is threatened to be made a party to or witness in any Proceeding by reason of an Indemnifiable Event, the Company shall indemnify Indemnitee from and against

  
 3 

 
any and all Expenses and Other Liabilities incurred by Indemnitee in connection with (including in preparation for) such Proceeding to the fullest extent not prohibited by the provisions of the
Company’s Bylaws and the Delaware General Corporation Law (“GCL”), as the same may be amended from time to time (but only to the extent that such amendment permits the Company to provide broader indemnification rights than the
Bylaws or the GCL permitted prior to the adoption of such amendment). 

(b)        Exception for Amounts Covered by Insurance and Other
Sources.  Notwithstanding the foregoing, except as provided in Section 3(c), the Company shall not be obligated to indemnify Indemnitee for Expenses or Other Liabilities of any type whatsoever (including, but not limited to
judgments, fines, penalties, ERISA excise taxes or penalties and amounts paid in settlement) to the extent such have been paid directly to Indemnitee (or paid directly to a third party on Indemnitee’s behalf) by any directors and officers, or
other type, of insurance maintained by the Company or other indemnity arrangements with third parties. 

(c)        Company Obligations Primary.  The Company hereby
acknowledges that an Indemnitee that is a member of the Board may have rights to indemnification for Expenses and Other Liabilities provided by another sponsoring organization (“Other Indemnitor”). The Company agrees with such an
Indemnitee that the Company is the indemnitor of first resort of such Indemnitee with respect to matters for which indemnification is provided under this Agreement and that the Company will be obligated to make all payments due to or for the benefit
of such Indemnitee under this Agreement without regard to any rights that such Indemnitee may have against the Other Indemnitor. The Company hereby waives any equitable rights to contribution or indemnification from the Other Indemnitor in respect
of any amounts paid to such Indemnitee hereunder. The Company further agrees that no reimbursement of Other Liabilities or payment of Expenses by the Other Indemnitor to or for the benefit of such Indemnitee shall affect the obligations of the
Company hereunder, and that the Company shall be obligated to repay the Other Indemnitor for all amounts so paid or reimbursed to the extent that the Company has an obligation to indemnify such Indemnitee for such Expenses or Other Liabilities
hereunder. 
 4.        Partial Indemnification.  If
Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some or a portion of any Expenses or Other Liabilities but not entitled, however, to indemnification for the total amount of such Expenses or Other
Liabilities, the Company shall nevertheless indemnify Indemnitee for such total amount except as to the portion thereof for which indemnification is prohibited by the provisions of the Company’s Bylaws or the GCL. In any review or Proceeding to
determine the extent of indemnification, the Company shall bear the burden to establish, by clear and convincing evidence, the lack of a successful resolution of a particular claim, issue or matter and which amounts sought in indemnity are allocable
to claims, issues or matters which were not successfully resolved. 

5.        Liability Insurance.  So long as Indemnitee shall
continue to serve the Company or a Subsidiary or Affiliate of the Company as an Indemnifiable Person and thereafter so long as Indemnitee shall be subject to any possible claim or threatened, pending or completed Proceeding as a result of an
Indemnifiable Event, the Company shall use reasonable efforts to maintain in full force and effect for the benefit of Indemnitee as an insured (i) liability insurance 

  
 4 

 
issued by one or more reputable insurers and having the policy amount and deductible deemed appropriate by the Board and providing in all respects coverage at least comparable to and in the same
amount as that provided to the Chairman of the Board or a Chief Executive Officer of the Company and (ii) any replacement or substitute policies issued by one or more reputable insurers providing in all respects coverage at least comparable to
and in the same amount as that being provided to the Chairman of the Board or a Chief Executive Officer of the Company. The purchase, establishment and maintenance of any such insurance or other arrangements shall not in any way limit or affect the
rights and obligations of the Company or of Indemnitee under this Agreement except as expressly provided herein, and the execution and delivery of this Agreement by the Company and Indemnitee shall not in any way limit or affect the rights and
obligations of the Company or the other party or parties thereto under any such insurance or other arrangement. 

6.        Mandatory Advancement of Expenses. 

(a)        Advancement.  If requested by Indemnitee, the
Company shall advance prior to the final disposition of the Proceeding all Expenses and reasonably incurred by Indemnitee in connection with (including in preparation for) a Proceeding related to an Indemnifiable Event. Indemnitee hereby undertakes
to repay such amounts advanced if, and only if and to the extent that, it shall ultimately be determined that Indemnitee is not entitled to be indemnified by the Company under the provisions of this Agreement, the Company’s Bylaws or the GCL.
The advances to be made hereunder shall be paid by the Company to Indemnitee or directly to a third party designated by Indemnitee within thirty (30) days following delivery of a written request therefor by Indemnitee to the Company.
Indemnitee’s undertaking to repay any Expenses advanced to Indemnitee hereunder shall be unsecured and shall not be subject to the accrual or payment of any interest thereon and shall not be conditioned upon Indemnitee’s ability to repay
such advances. 

(b)        Exception.  Notwithstanding the provisions of
Section 6(a), the Company shall not be obligated to make any further advance of Expenses to Indemnitee if any one of the following determines in good faith that the facts known to them at the time such determination is made demonstrate clearly
and convincingly that Indemnitee acted in bad faith: (i) those members of the Board consisting of directors who were not parties to the Proceeding for which a claim is made under this Agreement (“Independent Directors”), even
though less than a quorum, (ii) by a committee of Independent Directors designated by a majority vote of Independent Directors, even though less than a quorum, (iii) Independent Counsel, by written legal opinion, or (iv) a panel of
arbitrators (one of whom is selected by the Company, another of whom is selected by Indemnitee and the last of whom is selected by the first two arbitrators so selected). The Company shall have the option to submit the question of whether Indemnitee
has acted in bad faith to one of the four alternative decision makers set forth in the preceding sentence and to select the decision maker, but following a favorable determination to Indemnitee rendered by the first decision maker selected, the
Company may not submit the matter to another of the named decision makers. If the Company elects to submit the matter to Independent Counsel, such counsel shall be selected by Indemnitee and approved by the Independent Directors or a committee of
Independent Directors (which approval may not be unreasonably withheld). Any decision maker so selected shall render a decision within thirty (30) days of such decision maker’s selection (which shall include in the case of Independent
Counsel or a panel of arbitrators, when the person or persons acting as such counsel or such panel has or have been selected as provided above). 

  
 5 

 If a decision is made by the decision maker that Indemnitee acted in bad
faith, Indemnitee shall have the right to apply to the Delaware Court of Chancery for the purpose of determining whether Indemnitee has acted in bad faith. 
 7.        Notice and Other Indemnification Procedures. 
 (a)        Notification.  Promptly after receipt by Indemnitee of notice of the commencement of or the threat of commencement of any Proceeding,
Indemnitee shall, if Indemnitee believes that indemnification or advancement of Expenses with respect thereto may be sought from the Company under this Agreement, notify the Company of the commencement or threat of commencement thereof. However, a
failure so to notify the Company promptly following Indemnitee’s receipt of such notice shall not relieve the Company from any liability that it may have to Indemnitee except to the extent that the Company is actually and materially prejudiced
in its defense of such Proceeding as a result of such failure. 

(b)        Insurance and Other Matters.  If, at the time of the
receipt of a notice of the commencement of a Proceeding pursuant to Section 7(a) above, the Company has director and officer liability insurance in effect, the Company shall give prompt notice of the commencement of such Proceeding to the
issuers in accordance with the procedures set forth in the respective policies. The Company shall thereafter take all reasonable action to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result of such Proceeding in
accordance with the terms of such insurance policies. 

(c)        Assumption of Defense.  In the event the Company
shall be obligated to advance the Expenses for any Proceeding against Indemnitee, the Company, if deemed appropriate by the Company, shall be entitled to assume the defense of such Proceeding as provided herein. Such defense by the Company may
include the representation of two or more parties by one attorney or law firm as permitted under the ethical rules and legal requirements related to joint representations. Following delivery of written notice to Indemnitee of the Company’s
election to assume the defense of such Proceeding, the approval by Indemnitee (which approval shall not be unreasonably withheld) of counsel designated by the Company and the retention of such counsel by the Company, the Company will not be liable
to Indemnitee under this Agreement for any fees and expenses of counsel subsequently incurred by Indemnitee with respect to the same Proceeding. If (A) the employment of counsel by Indemnitee has been previously authorized by the Company,
(B) Indemnitee shall have notified the Board in writing that Indemnitee has reasonably concluded that there is likely to be a conflict of interest between the Company and Indemnitee in the conduct of any such defense, or (C) the Company
fails to employ counsel to assume the defense of such Proceeding, the fees and expenses of Indemnitee’s counsel shall be subject to indemnification and/or advancement pursuant to the terms of this Agreement. Nothing herein shall prevent
Indemnitee from employing counsel for any such Proceeding at Indemnitee’s expense. 

  
 6 

(d)        Settlement.  The Company shall not be liable to
indemnify Indemnitee under this Agreement or otherwise for any amounts paid in settlement of any Proceeding effected without the Company’s written consent; provided, however, that if a Change in Control has occurred, the Company shall be liable
for indemnification of Indemnitee for amounts paid in settlement if the Independent Counsel has approved the settlement. Neither the Company nor any Subsidiary or Affiliate of the Company shall enter into a settlement of any Proceeding that might
result in the imposition of any Expense, Other Liability, penalty, limitation or detriment on Indemnitee, whether indemnifiable under this Agreement or otherwise, without Indemnitee’s written consent. Neither the Company nor Indemnitee shall
unreasonably withhold consent from any settlement of any Proceeding. 

8.        Determination of Right to Indemnification. 

(a)        Success on the Merits or Otherwise.   To the extent
that Indemnitee has been successful on the merits or otherwise in defense of any Proceeding referred to in Section 3(a) above or in the defense of any claim, issue or matter described therein, the Company shall indemnify Indemnitee against
Expenses actually and reasonably incurred in connection therewith. 

(b)        Indemnification in Other Situations.   In the event
that Section 8(a) is inapplicable, the Company shall also indemnify Indemnitee if he or she has not failed to meet the applicable standard of conduct for indemnification. 

(c)        Forum.  Indemnitee shall be entitled to select the
forum in which determination of whether or not Indemnitee has met the applicable standard of conduct shall be decided, and such election will be made from among the following: 

(1)        Those members of the Board who are Independent Directors even though
less than a quorum; 
 (2)        A committee of Independent Directors
designated by a majority vote of Independent Directors, even though less than a quorum; or 

(3)        Independent Counsel selected by Indemnitee and approved by the Board,
which approval may not be unreasonably withheld, which counsel shall make such determination in a written opinion. 
 If Indemnitee is an officer or a director of the Company at the time that Indemnitee is selecting the forum, then Indemnitee shall not select Independent Counsel as such forum unless there are no
Independent Directors or unless the Independent Directors agree to the selection of independent counsel as the forum. 
 The
selected forum shall be referred to herein as the “Reviewing Party”. Notwithstanding the foregoing, following any Change in Control, the Reviewing Party shall be Independent Counsel selected in the manner provided in (3) above.

 (d)        As soon as practicable, and in no event later than thirty
(30) days after receipt by the Company of written notice of Indemnitee’s choice of forum pursuant to Section 8(c) above, the Company and Indemnitee shall each submit to the Reviewing Party such information as they believe is
appropriate for the Reviewing Party to consider. The Reviewing 

  
 7 

 
Party shall arrive at its decision within a reasonable period of time following the receipt of all such information from the Company and Indemnitee, but in no event later than thirty
(30) days following the receipt of all such information, provided that the time by which the Reviewing Party must reach a decision may be extended by mutual agreement of the Company and Indemnitee. Indemnitee shall cooperate with the Reviewing
Party, including providing to the Reviewing Party, upon reasonable advance request, any documentation or information which is not subject to attorney-client privilege or otherwise protected from disclosure and which is reasonably available to
Indemnitee and reasonably necessary to the Reviewing Party’s determination. The Reviewing Party shall act reasonably and in good faith in making a determination pursuant to this Section 8. All Expenses associated with the process set forth
in this Section 8(d), including but not limited to the Expenses of the Reviewing Party, shall be paid by the Company. 
 (e)        Delaware Court of Chancery.  Notwithstanding a final determination by any Reviewing Party that Indemnitee is not entitled to
indemnification with respect to a specific Proceeding, Indemnitee shall have the right to apply to the Court of Chancery, for the purpose of enforcing Indemnitee’s right to indemnification pursuant to this Agreement. The Company shall be
precluded from asserting in any judicial proceeding commenced pursuant to this Section 8(e) that the procedures and presumptions of this Agreement are not valid, binding or enforceable. 

(f)        Expenses.  The Company shall indemnify Indemnitee
against all Expenses incurred by Indemnitee in connection with any hearing or Proceeding under this Section 8 or under Section 6(b) involving Indemnitee and against all Expenses and Other Liabilities incurred by Indemnitee in connection
with any other Proceeding between the Company and Indemnitee involving the interpretation or enforcement of the rights of Indemnitee under this Agreement unless a court of competent jurisdiction finds that each of the material claims of Indemnitee
in any such Proceeding was frivolous or made in bad faith. 

(g)        Determination of “Good Faith”.  For
purposes of any determination of whether Indemnitee acted in “good faith” or acted in “bad faith,” Indemnitee shall be deemed to have acted in good faith or not acted in bad faith if in taking or failing to take the action in
question Indemnitee relied on the records or books of account of the Company or a Subsidiary or Affiliate of the Company, including financial statements, or on information, opinions, reports or statements provided to Indemnitee by the officers or
other employees of the Company or a Subsidiary or Affiliate of the Company in the course of their duties, or on the advice of legal counsel for the Company or a Subsidiary or Affiliate of the Company, or on information or records given or reports
made to the Company or a Subsidiary or Affiliate of the Company by an independent certified public accountant or by an appraiser or other expert selected by the Company or a Subsidiary or Affiliate of the Company, or by any other person (including
legal counsel, accountants and financial advisors) as to matters Indemnitee reasonably believes are within such other person’s professional or expert competence and who has been selected with reasonable care by or on behalf of the Company. In
connection with any determination as to whether Indemnitee is entitled to be indemnified hereunder, or to advancement of expenses, the Reviewing Party, decision maker pursuant to Section 6(b) or court shall presume that Indemnitee has satisfied
the applicable standard of conduct and is entitled to indemnification or advancement of Expenses, as the case may be, and the burden of proof shall be on the Company to establish, by clear and convincing evidence, that Indemnitee is not so entitled.
The provisions of this 

  
 8 

 
Section 8(g) shall not be deemed to be exclusive or to limit in any way the other circumstances in which Indemnitee may be deemed to have met the applicable standard of conduct set forth in
this Agreement. In addition, the knowledge and/or actions, or failures to act, of any other person serving the Company or a Subsidiary or Affiliate of the Company as an Indemnifiable Person shall not be imputed to Indemnitee for purposes of
determining the right to indemnification hereunder. Notwithstanding anything in this Agreement to the contrary, no determination as to Indemnitee’s entitlement to indemnification hereunder shall be required to be made prior to the final
disposition of a Proceeding. 

9.        Exceptions.  Any other provision herein to the
contrary notwithstanding, 
 (a)        Claims Initiated by
Indemnitee.  The Company shall not be obligated pursuant to the terms of this Agreement to indemnify or advance Expenses to Indemnitee with respect to Proceedings or claims initiated or brought voluntarily by Indemnitee and not by way
of defense, except (1) with respect to Proceedings brought to establish or enforce a right to indemnification under this Agreement, any other statute or law, as permitted under Section 145, or otherwise, (2) where the Board has
consented to the initiation of such Proceeding, or (3) with respect to Proceedings brought to discharge Indemnitee’s fiduciary responsibilities, whether under ERISA or otherwise, but such indemnification or advancement of Expenses may be
provided by the Company in specific cases if the Board finds it to be appropriate; or 

(b)        Section 16(b) Actions.  The Company shall not
be obligated pursuant to the terms of this Agreement to indemnify Indemnitee on account of any suit in which judgment is rendered against Indemnitee for an accounting of profits made from the purchase or sale by Indemnitee of securities of the
Company pursuant to the provisions of Section 16(b) of the Securities Exchange Act of l934 and amendments thereto or similar provisions of any federal, state or local statutory law; or 

(c)        Unlawful Indemnification.  The Company shall not be
obligated pursuant to the terms of this Agreement to indemnify Indemnitee for Other Liabilities if such indemnification is prohibited by law. 
 10.        Non-exclusivity.  The provisions for indemnification and advancement of Expenses set forth in this Agreement shall not be deemed
exclusive of any other rights which Indemnitee may have under any provision of law, the Company’s Certificate of Incorporation or Bylaws, the vote of the Company’s stockholders or disinterested directors, other agreements, or otherwise,
both as to acts or omissions in his or her official capacity and to acts or omissions in another capacity while serving the Company or a Subsidiary or Affiliate of the Company as an Indemnifiable Person and Indemnitee’s rights hereunder shall
continue after Indemnitee has ceased serving the Company or a Subsidiary or Affiliate of the Company as an Indemnifiable Person and shall inure to the benefit of the successors and assigns, heirs, executors, personal and legal representatives, and
administrators of Indemnitee. Notwithstanding anything to the contrary set forth herein, if Indemnitee entered into an indemnification agreement with a Reincorporated Predecessor (a “Prior Indemnification Agreement”), then such Prior
Indemnification Agreement shall exclusively govern all claims for indemnification and advancement of expenses resulting from Indemnitee’s service to, or on behalf of, such Reincorporated Predecessor. 

  
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11.        Severability.  If any provision or provisions of this
Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever, (i) the validity, legality and enforceability of the remaining provisions of the Agreement (including, without limitation, all portions of any paragraphs
of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that are not themselves invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby, and (ii) to the fullest extent
possible, the provisions of this Agreement (including, without limitation, all portions of any paragraphs of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that are not themselves invalid, illegal or
unenforceable) shall be construed so as to give effect to the intent manifested by the provision held invalid, illegal or unenforceable. 
 12.        Modification and Waiver.  No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by both
of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provision hereof (whether or not similar) and except as expressly provided herein, no such waiver shall constitute
a continuing waiver. 
 13.        Successors and
Assigns.  The terms of this Agreement shall bind, and shall inure to the benefit of, the successors and assigns, heirs, executors, personal and legal representatives and administrators of the parties hereto. 

14.        Notice.  All notices, requests, demands and other
communications under this Agreement shall be in writing and shall be deemed duly given (i) if delivered by hand and a receipt is provided by the party to whom such communication is delivered, (ii) if mailed by certified or registered mail
with postage prepaid, return receipt requested, on the signing by the recipient of an acknowledgement of receipt form accompanying delivery through the U.S. mail, (iii) personal service by a process server, or (iv) delivery to the
recipient’s address by overnight delivery (e.g., FedEx, UPS or DHL) or other commercial delivery service. Addresses for notice to either party are as shown on the signature page of this Agreement, or as subsequently modified by written notice
complying with the provisions of this Section 14. Delivery of communications to the Company with respect to this Agreement shall be sent to the attention of the Company’s General Counsel. 

15.        No Presumptions.  For purposes of this Agreement, the
termination of any Proceeding, by judgment, order, settlement (whether with or without court approval) or conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself, create a presumption that Indemnitee did not meet any
particular standard of conduct or have any particular belief or that a court has determined that indemnification is not permitted by applicable law or otherwise. In addition, neither the failure of the Company or a Reviewing Party or one of the
decision makers described in Section 6(b) to have made a determination as to whether Indemnitee has met any particular standard of conduct or had any particular belief, nor an actual determination by the Company including a determination
pursuant to Section 6(b), or a Reviewing Party that Indemnitee has not met such standard of conduct or did not have such belief, prior to the commencement of Proceedings by Indemnitee to secure a judicial determination by exercising
Indemnitee’s rights under Section 6(b) or 8(e) of this Agreement shall be a defense to Indemnitee’s claim or create a presumption that Indemnitee has failed to meet any particular standard of conduct or did not have any particular
belief or is not entitled to indemnification under applicable law or otherwise. 

  
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 16.        Survival of
Rights.  The rights conferred on Indemnitee by this Agreement shall continue after Indemnitee has ceased to serve the Company or a Subsidiary or Affiliate of the Company as an Indemnifiable Person and shall inure to the benefit of
Indemnitee’s successors and assigns, heirs, executors, personal and legal representatives, and administrators. 
 17.        Subrogation and Contribution. 
 (a)        Except as otherwise expressly provided in this Agreement, in the event of payment under this Agreement, the Company shall be subrogated to the extent of
such payment to all of the rights of recovery of Indemnitee, who shall execute all documents required and shall do all acts that may be necessary to secure such rights and to enable the Company effectively to bring suit to enforce such rights.

 (b)        Whether or not the indemnification provided for in this
Agreement is available to Indemnitee, in respect of any Proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such Proceeding), the Company shall pay, in the first instance, the entire amount of any judgment or
settlement of such Proceeding without prejudice to any right of contribution it may have against Indemnitee. 

(c)        Without diminishing or impairing the obligations of the Company in
Section 17(b) hereof, if, for any reason, Indemnitee shall elect or be required to pay all or any portion of any judgment or settlement in any Proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such
Proceeding), the Company shall contribute to the amount of Expenses and Other Liabilities paid in settlement and actually and reasonably incurred and paid or payable by Indemnitee in proportion to the relative benefits received by the Company and
all officers, directors or employees of the Company, other than Indemnitee, who are jointly liable with Indemnitee (or would be if joined in such Proceeding), on the one hand, and Indemnitee, on the other hand, from the transaction from which such
Proceeding arose; provided, however, that the proportion determined on the basis of relative benefit may, to the extent necessary to conform to law, be further adjusted by reference to the relative fault of the Company and all
officers, directors or employees of the Company other than Indemnitee who are jointly liable with Indemnitee (or would be if joined in such Proceeding), on the one hand, and Indemnitee, on the other hand, in connection with the events that resulted
in such Expenses and Other Liabilities, as well as any other equitable considerations which the law may require to be considered. The relative fault of the Company and all officers, directors or employees of the Company, other than Indemnitee, who
are jointly liable with Indemnitee (or would be if joined in such Proceeding), on the one hand, and Indemnitee, on the other hand, shall be determined by reference to, among other things, the degree to which their actions were motivated by intent to
gain personal profit or advantage, the degree to which their liability is primary or secondary and the degree to which their conduct is active or passive. 
 (d)        The Company hereby agrees to fully indemnify and hold Indemnitee harmless from any claims of contribution which may be brought by officers, directors or
employees of the Company, other than Indemnitee, who may be jointly liable with Indemnitee. 

  
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 (e)        To the fullest extent
permissible under applicable law and without diminishing or impairing the obligations of the Company set forth in Section 17(b), Section 17(c) and Section 17(d), if the indemnification provided for in this Agreement is unavailable to
Indemnitee for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred by or on behalf of Indemnitee, whether for Other Liabilities and/or for Expenses, in connection with any claim relating to
an Indemnifiable Event under this Agreement, in such proportion as is deemed fair and reasonable in light of all of the circumstances of such Proceeding in order to reflect (i) the relative benefits received by the Company and Indemnitee as a
result of the event(s) and/or transaction(s) giving cause to such Proceeding; and/or (ii) the relative fault of the Company (and its directors, officers, employees and agents) and Indemnitee in connection with such event(s) and/or
transaction(s). 
 18.        Security.  To the extent
requested by Indemnitee and approved by the Board, the Company may at any time and from time to time provide security to Indemnitee for the Company’s obligations hereunder through an irrevocable bank line of credit, funded trust or other
collateral. 
 19.        Specific Performance,
Etc.  The parties recognize that if any provision of this Agreement is violated by the Company, Indemnitee may be without an adequate remedy at law. Accordingly, in the event of any such violation, Indemnitee shall be entitled, if
Indemnitee so elects, to institute Proceedings, either in law or at equity, to obtain damages, to enforce specific performance, to enjoin such violation, or to obtain any relief or any combination of the foregoing as Indemnitee may elect to pursue.

 20.        Counterparts.  This Agreement may be
executed in counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute one and the same agreement. Only one such counterpart signed by the party against whom enforceability is sought
needs to be produced to evidence the existence of this Agreement. 

21.        Headings.  The headings of the sections and
paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or to affect the construction or interpretation thereof. 

22.        Governing Law.  This Agreement shall be governed
exclusively by and construed according to the laws of the State of Delaware, as applied to contracts between Delaware residents entered into and to be performed entirely with Delaware. 

23.        Consent to Jurisdiction.  The Company and Indemnitee
each hereby irrevocably consent to the jurisdiction of the courts of the State of Delaware for all purposes in connection with any Proceeding which arises out of or relates to this Agreement. 

  
 12 

 The parties hereto have entered into this Indemnity Agreement effective as
of the date first above written. 
  

			
	 WORKDAY, INC.

		
	 By:
	 	 

 
			
		
	 Name:
	 	 James P. Shaughnessy

	 Its:
	 	 Vice President, General Counsel and Secretary

	
	 INDEMNITEE:

	
	 
	 Name:

 
			
		
	 Address:
	 	 
		
		 	 

  
 13

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