Document:

NETSCOUT SYSTEMS INC 1999 EMPLOYEE STOCK PURCHASE PLAN

 EXHIBIT 4.4 
  

NETSCOUT SYSTEMS, INC. 
  
 1999 EMPLOYEE STOCK PURCHASE PLAN, AS AMENDED 
  
 ARTICLE 1—PURPOSE. 
  
 This 1999 Employee Stock Purchase Plan (the “Plan”) is intended to encourage stock ownership by all eligible employees of NetScout Systems, Inc.
(the “Company”), a Delaware corporation, and its participating subsidiaries (as defined in Article 17) so that they may share in the growth of the Company by acquiring or increasing their proprietary interest in the Company. The Plan is
designed to encourage eligible employees to remain in the employ of the Company and its participating subsidiaries. The Plan is intended to constitute an “employee stock purchase plan” within the meaning of Section 423(b) of the Internal
Revenue Code of 1986, as amended (the “Code”). 
  
 ARTICLE 2—ADMINISTRATION OF THE PLAN. 
  
 The Plan
may be administered by a committee appointed by the Board of Directors of the Company (the “Committee”). The Committee shall consist of not less than two members of the Company’s Board of Directors. The Board of Directors may from
time to time remove members from, or add members to, the Committee. Vacancies on the Committee, however caused, shall be filled by the Board of Directors. The Committee may select one of its members as Chairman, and shall hold meetings at such times
and places as it may determine. Acts by a majority of the Committee, or acts reduced to or approved in writing by a majority of the members of the Committee, shall be the valid acts of the Committee. 
  
 The interpretation and construction by the Committee of any provisions of the
Plan or of any option granted under it shall be final, unless otherwise determined by the Board of Directors. The Committee may from time to time adopt such rules and regulations for carrying out the Plan as it may deem best, provided that any such
rules and regulations shall be applied on a uniform basis to all employees under the Plan. No member of the Board of Directors or the Committee shall be liable for any action or determination made in good faith with respect to the Plan or any option
granted under it. 
  
 In the event the Board of Directors fails to
appoint or refrains from appointing a Committee, the Board of Directors shall have all power and authority to administer the Plan. In such event, the word “Committee” wherever used herein shall be deemed to mean the Board of Directors.

  
 ARTICLE 3—ELIGIBLE EMPLOYEES. 
  
 All employees of the Company or any of its participating subsidiaries whose
customary employment is more than 20 hours per week and for more than five months in any calendar year shall be eligible to receive options under the Plan to purchase common stock of the Company, and all eligible employees shall have the same rights
and privileges hereunder. Persons who are eligible employees on the first business day of any Payment Period (as defined in Article 5) shall receive their options as of such day. Persons who become eligible employees after any date on which options
are granted under the Plan shall be granted options on the first day of the next succeeding Payment Period on which options are granted to eligible employees under the Plan. In no event, however, may an employee be granted an option if such
employee, immediately after the option was granted, would be treated as owning stock possessing five percent or more of the total combined voting power or value of all classes of stock of the Company or of 

 any parent corporation or subsidiary corporation, as the terms “parent corporation” and “subsidiary
corporation” are defined in Section 424(e) and (f) of the Code. For purposes of determining stock ownership under this paragraph, the rules of Section 424(d) of the Code shall apply, and stock which the employee may purchase under outstanding
options shall be treated as stock owned by the employee. 
  
 ARTICLE 4—STOCK SUBJECT TO THE PLAN. 
  
 The stock
subject to the options under the Plan shall be shares of the Company’s authorized but unissued common stock, par value $.001 per share (the “Common Stock”), or shares of Common Stock reacquired by the Company, including shares
purchased in the open market. The aggregate number of shares which may be issued pursuant to the Plan is 1,250,000, subject to adjustment as provided in Article 12. If any option granted under the Plan shall expire or terminate for any reason
without having been exercised in full or shall cease for any reason to be exercisable in whole or in part, the unpurchased shares subject thereto shall again be available under the Plan. 
  
 ARTICLE 5—PAYMENT PERIOD AND STOCK OPTIONS. 
  
 The first Payment Period during which payroll deductions will be accumulated under the Plan shall commence on the later to
occur of October 1, 1999 and the first day of the first calendar month following effectiveness of the Form S-8 registration statement filed with the Securities and Exchange Commission covering the shares to be issued pursuant to the Plan and shall
end on March 31, 2000. The second and third Payment Periods shall consist of six-month periods commencing on April 1, 2000 and October 1, 2000 and ending on November 30, 2000 and March 31, 2001, respectively. The fourth Payment Period shall commence
on April 1, 2001 and end on October 31, 2001. For the remainder of the duration of the Plan, Payment Periods shall consist of six-month periods commencing on May 1 and November 1 and ending on October 31 and April 30 of each calendar year,
respectively. 
  
 Twice each year, on the first business day of
each Payment Period through the Payment Period ending on October 31, 2001, the Company will grant to each eligible employee who is then a participant in the Plan an option to purchase on the last day of such Payment Period, at the Option Price
hereinafter provided for, a maximum of 500 shares, on condition that such employee remains eligible to participate in the Plan throughout the remainder of such Payment Period. Commencing on the Payment Period beginning on November 1, 2001, twice
each year, on the first business day of each Payment Period, the Company will grant to each eligible employee who is then a participant in the Plan an option to purchase on the last day of such Payment Period, at the Option Price hereinafter
provided for, a maximum of 1,000 shares on the condition that such employee remains eligible to participate in the Plan throughout the remainder of such Payment Period. The participant shall be entitled to exercise the option so granted only to the
extent of the participant’s accumulated payroll deductions on the last day of such Payment Period. If the participant’s accumulated payroll deductions on the last day of the Payment Period would enable the participant to purchase more than
the applicable maximum number of shares except for the applicable share limitation, the excess of the amount of the accumulated payroll deductions over the aggregate purchase price of the applicable maximum number of shares shall be promptly
refunded to the participant by the Company, without interest. The Option Price per share for each Payment Period shall be the lesser of (i) 85% of the average market price of the Common Stock on the first business day of the Payment Period and (ii)
85% of the average market price of the Common Stock on the last business day of the Payment Period, in either event rounded up to the nearest cent. The foregoing limitation on the number of shares subject to option and the Option Price shall be
subject to adjustment as provided in Article 12. 
  
 For purposes
of the Plan, the term “average market price” on any date means (i) the average (on that date) of the high and low prices of the Common Stock on the principal national securities exchange on which the Common Stock is traded, if the Common
Stock is then traded on a national securities exchange; or (ii) the last reported sale price (on that date) of the Common Stock on the Nasdaq National Market, if 

 the Common Stock is not then traded on a national securities exchange; or (iii) the average of the closing bid and asked
prices last quoted (on that date) by an established quotation service for over-the-counter securities, if the Common Stock is not reported on the Nasdaq National Market; or (iv) if the Common Stock is not publicly traded, the fair market value of
the Common Stock as determined by the Committee after taking into consideration all factors which it deems appropriate, including, without limitation, recent sale and offer prices of the Common Stock in private transactions negotiated at arm’s
length. 
  
 For purposes of the Plan, the term “business
day” means a day on which there is trading on the Nasdaq National Market or the aforementioned national securities exchange, whichever is applicable pursuant to the preceding paragraph; and if neither is applicable, a day that is not a
Saturday, Sunday or legal holiday in Massachusetts. 
  
 No
employee shall be granted an option which permits the employee’s right to purchase stock under the Plan, and under all other Section 423(b) employee stock purchase plans of the Company and any parent or subsidiary corporations, to accrue at a
rate which exceeds $25,000 of fair market value of such stock (determined on the date or dates that options on such stock were granted) for each calendar year in which such option is outstanding at any time. The purpose of the limitation in the
preceding sentence is to comply with Section 423(b)(8) of the Code. If the participant’s accumulated payroll deductions on the last day of the Payment Period would otherwise enable the participant to purchase Common Stock in excess of the
Section 423(b)(8) limitation described in this paragraph, the excess of the amount of the accumulated payroll deductions over the aggregate purchase price of the shares actually purchased shall be promptly refunded to the participant by the Company,
without interest. 
  
 ARTICLE 6—EXERCISE OF OPTION.

  
 Each eligible employee who continues to be a participant in
the Plan on the last day of a Payment Period shall be deemed to have exercised his or her option on such date and shall be deemed to have purchased from the Company such number of full shares of Common Stock reserved for the purpose of the Plan as
the participant’s accumulated payroll deductions on such date will pay for at the Option Price, subject to the applicable share limitation of the option and the Section 423(b)(8) limitation described in Article 5. If the individual is not a
participant on the last day of a Payment Period, the he or she shall not be entitled to exercise his or her option. Only full shares of Common Stock may be purchased under the Plan. Unused payroll deductions remaining in a participant’s account
at the end of a Payment Period by reason of the inability to purchase a fractional share shall be carried forward to the next Payment Period. 
  
 ARTICLE 7—AUTHORIZATION FOR ENTERING THE PLAN. 
  
 An employee may elect to enter the Plan by filling out, signing and delivering to the Company an authorization: 
  

	 	A.	Stating the percentage to be deducted regularly from the employee’s pay; 

  

	 	B.	Authorizing the purchase of stock for the employee in each Payment Period in accordance with the terms of the Plan; and 

  

	 	C.	Specifying the exact name or names in which stock purchased for the employee is to be issued as provided under Article 11 hereof. 

  
 Such authorization must be received by the Company at least ten days before
the first day of the next succeeding Payment Period and shall take effect only if the employee is an eligible employee on the first business day of such Payment Period. 

 Unless a participant files a new authorization or withdraws from the Plan, the deductions and purchases
under the authorization the participant has on file under the Plan will continue from one Payment Period to succeeding Payment Periods as long as the Plan remains in effect. 
  
 The Company will accumulate and hold for each participant’s account the amounts deducted from his or her pay. No
interest will be paid on these amounts. 
  
 ARTICLE 8—MAXIMUM
AMOUNT OF PAYROLL DEDUCTIONS. 
  
 An employee may authorize
payroll deductions in an amount (expressed as a whole percentage) not less than one percent (1%) but not more than ten percent (10%) of the employee’s total compensation, including base pay or salary and any overtime, bonuses or commissions.

  
 ARTICLE 9—CHANGE IN PAYROLL DEDUCTIONS. 
  
 Deductions may not be increased or decreased during a Payment Period.
However, a participant may withdraw in full from the Plan. 
  
 ARTICLE 10—WITHDRAWAL FROM THE PLAN. 
  
 A
participant may withdraw from the Plan (in whole but not in part) at any time prior to the last day of a Payment Period by delivering a withdrawal notice to the Company. 
  
 To re-enter the Plan, an employee who has previously withdrawn must file a new authorization at least ten days before the
first day of the next Payment Period in which he or she wishes to participate. The employee’s re-entry into the Plan becomes effective at the beginning of such Payment Period, provided that he or she is an eligible employee on the first
business day of the Payment Period. 
  
 ARTICLE 11—ISSUANCE OF
STOCK. 
  
 Certificates for stock issued to participants shall be
delivered as soon as practicable after each Payment Period by the Company’s transfer agent. 
  
 Stock purchased under the Plan shall be issued only in the name of the participant, or if the participant’s authorization so specifies, in the name
of the participant and another person of legal age as joint tenants with rights of survivorship. 
  
 ARTICLE 12—ADJUSTMENTS. 
  
 Upon the happening of any of the following described events, a participant’s rights under options granted under the Plan shall be adjusted as hereinafter provided: 
  

	 	A.	In the event that the shares of Common Stock shall be subdivided or combined into a greater or smaller number of shares or if, upon a reorganization, split-up, liquidation,
recapitalization or the like of the Company, the shares of Common Stock shall be exchanged for other securities of the Company, each participant shall be entitled, subject to the conditions herein stated, to purchase such number of shares of Common
Stock or amount of other securities of the Company as were exchangeable for the number of shares of Common Stock that such participant would have been entitled to purchase except for such action, and appropriate adjustments shall be made in the
purchase price per share to reflect such subdivision, combination or exchange; and 

	 	B.	In the event the Company shall issue any of its shares as a stock dividend upon or with respect to the shares of stock of the class which shall at the time be subject to option
hereunder, each participant upon exercising such an option shall be entitled to receive (for the purchase price paid upon such exercise) the shares as to which the participant is exercising his or her option and, in addition thereto (at no
additional cost), such number of shares of the class or classes in which such stock dividend or dividends were declared or paid, and such amount of cash in lieu of fractional shares, as is equal to the number of shares thereof and the amount of cash
in lieu of fractional shares, respectively, which the participant would have received if the participant had been the holder of the shares as to which the participant is exercising his or her option at all times between the date of the granting of
such option and the date of its exercise. 

  
 Upon
the happening of any of the foregoing events, the class and aggregate number of shares set forth in Article 4 hereof which are subject to options which have been or may be granted under the Plan and the limitations set forth in the second paragraph
of Article 5 shall also be appropriately adjusted to reflect the events specified in paragraphs A and B above. Notwithstanding the foregoing, any adjustments made pursuant to paragraphs A or B shall be made only after the Committee, based on advice
of counsel for the Company, determines whether such adjustments would constitute a “modification” (as that term is defined in Section 424 of the Code). If the Committee determines that such adjustments would constitute a modification, it
may refrain from making such adjustments. 
  
 If the Company is to
be consolidated with or acquired by another entity in a merger, a sale of all or substantially all of the Company’s assets or otherwise (an “Acquisition”), the Committee or the board of directors of any entity assuming the obligations
of the Company hereunder (the “Successor Board”) shall, with respect to options then outstanding under the Plan, either (i) make appropriate provision for the continuation of such options by arranging for the substitution on an equitable
basis for the shares then subject to such options either (a) the consideration payable with respect to the outstanding shares of the Common Stock in connection with the Acquisition, (b) shares of stock of the successor corporation, or a parent or
subsidiary of such corporation, or (c) such other securities as the Successor Board deems appropriate, the fair market value of which shall not materially exceed the fair market value of the shares of Common Stock subject to such options immediately
preceding the Acquisition; or (ii) terminate each participant’s options in exchange for a cash payment equal to the excess of (a) the fair market value on the date of the Acquisition, of the number of shares of Common Stock that the
participant’s accumulated payroll deductions as of the date of the Acquisition could purchase, at an option price determined with reference only to the first business day of the applicable Payment Period and subject to the applicable share
limitation, Code Section 423(b)(8) and fractional-share limitations on the amount of stock a participant would be entitled to purchase, over (b) the result of multiplying such number of shares by such option price. 
  
 The Committee or Successor Board shall determine the adjustments to be made
under this Article 12, and its determination shall be conclusive. 
  
 ARTICLE 13—NO TRANSFER OR ASSIGNMENT OF EMPLOYEE’S RIGHTS. 
  
 An option granted under the Plan may not be transferred or assigned and may be exercised only by the participant. 
  
 ARTICLE 14—TERMINATION OF EMPLOYEE’S RIGHTS. 
  
 Whenever a participant ceases to be an eligible employee because of retirement, voluntary or involuntary termination, resignation, layoff, discharge,
death or for any other reason, his or her rights under the Plan shall immediately terminate, and the Company shall promptly refund, without interest, the entire 

 balance of his or her payroll deduction account under the Plan. Notwithstanding the foregoing, eligible employment shall
be treated as continuing intact while a participant is on military leave, sick leave or other bona fide leave of absence, for up to 90 days, or for so long as the participant’s right to re-employment is guaranteed either by statute or by
contract, if longer than 90 days. 
  
 ARTICLE 15—TERMINATION
AND AMENDMENTS TO PLAN. 
  
 The Plan may be terminated at any time
by the Company’s Board of Directors but such termination shall not affect options then outstanding under the Plan. It will terminate in any case when all or substantially all of the unissued shares of stock reserved for the purposes of the Plan
have been purchased. If at any time shares of stock reserved for the purpose of the Plan remain available for purchase but not in sufficient number to satisfy all then unfilled purchase requirements, the available shares shall be apportioned among
participants in proportion to the amount of payroll deductions accumulated on behalf of each participant that would otherwise be used to purchase stock, and the Plan shall terminate. Upon such termination or any other termination of the Plan, all
payroll deductions not used to purchase stock will be refunded, without interest. 
  
 The Committee or the Board of Directors may from time to time adopt amendments to the Plan provided that, without the approval of the stockholders of the Company, no amendment may (i) increase the number of shares
that may be issued under the Plan; (ii) change the class of employees eligible to receive options under the Plan, if such action would be treated as the adoption of a new plan for purposes of Section 423(b) of the Code; or (iii) cause Rule 16b-3
under the Securities Exchange Act of 1934 to become inapplicable to the Plan. 
  
 ARTICLE 16—LIMITS ON SALE OF STOCK PURCHASED UNDER THE PLAN. 
  
 The Plan is intended to provide shares of Common Stock for investment and not for resale. The Company does not, however, intend to restrict or influence
any employee in the conduct of his or her own affairs. An employee may, therefore, sell stock purchased under the Plan at any time the employee chooses, subject to compliance with any applicable federal or state securities laws and subject to any
restrictions imposed under Article 21 to ensure that tax withholding obligations are satisfied. THE EMPLOYEE ASSUMES THE RISK OF ANY MARKET FLUCTUATIONS IN THE PRICE OF THE STOCK. 
  
 ARTICLE 17—PARTICIPATING SUBSIDIARIES. 
  
 The term “participating subsidiary” shall mean any present or future subsidiary of the Company, as that term is
defined in Section 424(f) of the Code, which is designated from time to time by the Board of Directors to participate in the Plan. The Board of Directors shall have the power to make such designation before or after the Plan is approved by the
stockholders. 
  
 ARTICLE 18—OPTIONEES NOT STOCKHOLDERS.

  
 Neither the granting of an option to an employee nor the
deductions from his or her pay shall constitute such employee a stockholder of the shares covered by an option until such shares have been actually purchased by the employee. 
  
 ARTICLE 19—APPLICATION OF FUNDS. 
  
 The proceeds received by the Company from the sale of Common Stock pursuant to options granted under the Plan will be used
for general corporate purposes. 

 ARTICLE 20—NOTICE TO COMPANY OF DISQUALIFYING DISPOSITION. 
  
 By electing to participate in the Plan, each participant agrees to notify the
Company in writing immediately after the participant transfers Common Stock acquired under the Plan, if such transfer occurs within two years after the first business day of the Payment Period in which such Common Stock was acquired. Each
participant further agrees to provide any information about such a transfer as may be requested by the Company or any subsidiary corporation in order to assist it in complying with the tax laws. Such dispositions generally are treated as
“disqualifying dispositions” under Sections 421 and 424 of the Code, which have certain tax consequences to participants and to the Company and its participating subsidiaries. 
  
 ARTICLE 21—WITHHOLDING OF ADDITIONAL INCOME TAXES. 
  
 By electing to participate in the Plan, each participant acknowledges that the Company and its participating subsidiaries
are required to withhold taxes with respect to the amounts deducted from the participant’s compensation and accumulated for the benefit of the participant under the Plan, and each participant agrees that the Company and its participating
subsidiaries may deduct additional amounts from the participant’s compensation, when amounts are added to the participant’s account, used to purchase Common Stock or refunded, in order to satisfy such withholding obligations. Each
participant further acknowledges that when Common Stock is purchased under the Plan the Company and its participating subsidiaries may be required to withhold taxes with respect to all or a portion of the difference between the fair market value of
the Common Stock purchased and its purchase price, and each participant agrees that such taxes may be withheld from compensation otherwise payable to such participant. It is intended that tax withholding will be accomplished in such a manner that
the full amount of payroll deductions elected by the participant under Article 7 will be used to purchase Common Stock. However, if amounts sufficient to satisfy applicable tax withholding obligations have not been withheld from compensation
otherwise payable to any participant, then, notwithstanding any other provision of the Plan, the Company may withhold such taxes from the participant’s accumulated payroll deductions and apply the net amount to the purchase of Common Stock,
unless the participant pays to the Company, prior to the exercise date, an amount sufficient to satisfy such withholding obligations. Each participant further acknowledges that the Company and its participating subsidiaries may be required to
withhold taxes in connection with the disposition of stock acquired under the Plan and agrees that the Company or any participating subsidiary may take whatever action it considers appropriate to satisfy such withholding requirements, including
deducting from compensation otherwise payable to such participant an amount sufficient to satisfy such withholding requirements or conditioning any disposition of Common Stock by the participant upon the payment to the Company or such subsidiary of
an amount sufficient to satisfy such withholding requirements. 
  
 ARTICLE 22—GOVERNMENTAL REGULATIONS. 
  
 The
Company’s obligation to sell and deliver shares of Common Stock under the Plan is subject to the approval of any governmental authority required in connection with the authorization, issuance or sale of such shares. 
  
 Government regulations may impose reporting or other obligations on the
Company with respect to the Plan. For example, the Company may be required to identify shares of Common Stock issued under the Plan on its stock ownership records and send tax information statements to employees and former employees who transfer
title to such shares. 
  
 ARTICLE 23—GOVERNING LAW.

  
 The validity and construction of the Plan shall be governed by
the laws of Delaware, without giving effect to the principles of conflicts of law thereof. 

 ARTICLE 24—APPROVAL OF BOARD OF DIRECTORS AND STOCKHOLDERS OF THE COMPANY. 
  
 The Plan was adopted by the Board of Directors on April 14, 1999 and was
approved by the stockholders of the Company on June 8, 1999. 
  
 Register of Amendments to the Plan 
  

			
	 Date of Applicable Approval

	  	 Change

	Approved by the Board of Directors on January 17, 2001; no stockholder approval necessary	  	To delete the last sentence of the first paragraph of Article 5 in its entirety and replace it with the following: “The second and third Payment Periods shall consist of six-month
periods commencing on April 1, 2000 and October 1, 2000 and ending on September 30, 2000 and March 31, 2001, respectively. The fourth Payment Period shall commence on April 1, 2001 and end on October 31, 2001. For the remainder of the duration of
the Plan, Payment Periods shall consist of six-month periods commencing on May 1 and November 1 and ending on October 31 and April 30 of each calendar year, respectively.”
		
	Approved by the Board of Directors on July 18, 2001; no stockholder approval necessary	  	To increase the maximum number of shares that may be purchased by an eligible employee during each Payment Period from 500 to 1,000 shares, effective as of the Payment Period beginning on
November 1, 2001.
		
	Approved by the Board of Directors on April 29, 2003; approved by the stockholders of the Company on September 16, 2003	  	To amend the second sentence of Article 4 in its entirety to read as follows: “The aggregate number of shares which may be issued pursuant to the Plan is 1,250,000, subject to adjustment
as provided in Article 12.”Severance Agreement dated 11/11/03 between Registrant and John True

  
 Exhibit 10.37

  
 ARIBA, INC. 
 807 11th Avenue 
 Sunnyvale, CA 94089

 November 10, 2003 
  
 John True 
 807 11th Avenue 
 Sunnyvale, CA 94089 
  
 Dear John: 
  
 For good and
valuable consideration, Ariba, Inc. (the “Company”) is pleased to offer you the following severance arrangement: 
  
 1. Severance Compensation. 
  
 (a) Qualifying Terminations. Subject to Subparagraph (d) below, this Paragraph 1 applies if: 
  
 (i) The Company terminates your employment for any reason
other than Cause or Permanent Disability, and such termination is not pursuant to the provisions of Subparagraph (a)(iv) below (an “Involuntary Termination”); 
  
 (ii) You resign from the Company within 12 months after a Triggering Event; 
  
 (iii) On a date (the “Resignation Notice Date”)
prior to May 1, 2004, you resign from the Company effective the latter of (A) April 30, 2004 or (B) the date sixty days after the Resignation Notice Date (the “Resignation Date”), by delivering written notice of such resignation to the
Company, and you are not terminated by the Company prior to the Resignation Date for Cause or Permanent Disability. For the purposes of this paragraph, delivery shall mean the actual receipt of written notice by the Company’s Chief Executive
Officer; or 
  
 (iv) On a date (the
“Termination Notice Date”) from January 1, 2004 through March 31, 2004, the Company notifies you of the termination of your employment, for any reason other than Cause or Permanent Disability, effective as of any date (the
“Termination Date”) up to and including the latter of (A) April 30, 2004 or (B) the date sixty days after the Termination Notice Date, and you are not terminated by the Company prior to the Termination Date for Cause or Permanent
Disability; provided, however, that a termination shall not be deemed to be pursuant to the provisions of this Subparagraph (a)(iv) if the Company’s software sales and services bookings for the quarter ending December 31, 2003 shall have
equaled or exceeded the dollar target as determined by the Company’s Chief Executive Officer. 
  

	*	CONFIDENTIAL TREATMENT REQUESTED. CONFIDENTIAL PORTION HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE COMMISSION. 

 John True 
 November 10, 2003 
 Page 2 
  
 (b) Severance Benefits.
If your employment terminates in accordance with Subparagraph (a) above, then: 
  
 (i) The Company will continue to pay you your Cash Compensation (A) in the event of a termination pursuant to Subparagraph (a)(i) or (ii)
above, for a period of twelve months following the termination of your employment, (B) in the event of a termination pursuant to Subparagraph (a)(iii) above, for a period of six months following the termination of your employment, and (C) in the
event of a termination pursuant to Subparagraph (a)(iv) above, through October 31, 2004 (in each case, the “Continuation Period”); and 
  
 (ii) You will be given additional vesting credit for any then-outstanding equity awards held by you under the Ariba, Inc. 1999 Equity
Incentive Plan (the “Plan”), such that the number of shares or options subject to each such award that are vested as of the date your employment terminates shall be calculated assuming (for the purposes of this calculation only) that your
last day of Service (as defined in the Plan) is (A) in the event of a termination pursuant to Subparagraph (a)(i) or (ii) above, the date that is twelve months after the date your employment terminates, (B) in the event of a termination pursuant to
Subparagraph (a)(iii) above, the date that is six months after the date your employment terminates, and (C) in the event of a termination pursuant to Subparagraph (a)(iv) above, October 31, 2004. 
  
 Your Cash Compensation will be paid in accordance with the Company’s
standard payroll procedures. For the purpose of clarification, in the event of a termination pursuant to Subparagraph (a)(iii) or (iv) above, your Cash Compensation will continue to be paid from the Resignation Notice Date or the Termination Notice
Date (as the case may be) through the termination of your employment with the Company, in addition to the severance payments set forth in Subparagraph (b)(i) above. 
  
 (c) Definitions. For purposes of this Paragraph 1, the following definitions will apply: 

 
 (i) “Cash Compensation” means the sum of
(A) your base salary at the rate in effect at the time of the termination of your employment plus (B) your quarterly bonuses at the Quarterly Bonus Rate. For the purposes of this Subparagraph (c)(i), the “Quarterly Bonus Rate” shall mean
the greater of (Y) the average of your actual bonuses for the last two completed fiscal quarters (or, in the event of a termination pursuant to Subparagraph (a)(i) or (ii) above, the last four completed fiscal quarters) or (Z) $50,000. 

 
 (ii) “Cause” means (A) an unauthorized
use or disclosure of the Company’s confidential information or trade secrets, which use or disclosure causes material harm to the Company, (B) a material breach of any agreement between you and the Company, (C) a material failure to comply with
the 

 John True 
 November 10, 2003 
 Page 3 
  
 Company’s written policies or rules, (D)
a conviction of, or plea of “guilty” or “no contest” to, a felony under the laws of the United States or any State, (E) gross negligence or willful misconduct or (F) a continued failure to perform assigned duties after receiving
written notification of the failure from the Company’s Chief Executive Officer, President, Chief Operating Officer or Executive Vice President of Sales and Solutions. The foregoing is not an exclusive list of all acts or omissions that the
Company may consider as grounds for your termination without Cause. 
  
 (iii) “Permanent Disability” means that you are unable to perform the essential functions of your position, with or without reasonable accommodation, for a period of at least 120 consecutive days
because of a physical or mental impairment. 
  
 (iv) “Triggering Event” means (A) the Company’s requiring you, over your written objection, to report to anyone other than its Chief Executive Officer, President, Chief Operating Officer or Executive Vice President of
Sales and Solutions (or any substantially equivalent position or title), (B) the Company’s, without your written consent, reducing your base salary below $375,000 per year, or (C) the Company, over your written objection, significantly reduces
your employment responsibilities for global software sales and services. 
  
 (d) Conditions of Payment. This Paragraph 1 will not apply unless you (i) sign a general release of claims (in a form prescribed by the Company) of all known and unknown claims that you may then have against
the Company or persons affiliated with the Company and (ii) have returned all Company property. In addition, all payments under this Paragraph 1 will be discontinued immediately if you fail to comply with each of Paragraphs 2, 3, 4 and 5 below.

  
 2. Non-Solicitation. While you render services to the
Company and during the Continuation Period (if any), you agree that you will not directly or indirectly, personally or through others, solicit or attempt to solicit the employment of any employee of the Company or any of the Company’s
affiliates, whether on your own behalf or on behalf of any other person or entity. The term “employment” for purposes of this Paragraph 2 means to enter into an arrangement for services as a full-time or part-time employee, independent
contractor, agent or otherwise. You and the Company agree that this provision is reasonably enforced as to any geographic area in which the Company conducts its business. 
  
 3. Non-Competition. While you render services to the Company and during the Continuation Period (if any), you agree
that you will not: 
  
 (a) Directly or
indirectly, individually or in conjunction with others, engage in activities that compete with the Company or work for any entity that is part of the Company’s Market; 

 John True 
 November 10, 2003 
 Page 4 
  
 (b) Solicit, serve, contract
with or otherwise engage any existing or prospective customer, client or account of the Company on behalf of any entity that is part of the Company’s Market; or 
  
 (c) Cause or attempt to cause any existing or prospective customer, client or account of the Company to
divert from, terminate, limit or in any manner modify, or fail to enter into, any actual or potential business relationship with the Company. 
  
 You and the Company agree that this provision is reasonably enforced with reference to any geographic area in which the Company maintains any such
relationship. For purposes of this Paragraph 3, the Company’s “Market” means (i) all companies that derive their revenue primarily from e-procurement and/or spend management software sales or sales of software or services aiding
companies in sourcing and/or spend management activities and (ii) those companies set forth on Exhibit A hereto. You and the Company agree that the Company’s Market is global in scope. 
  
 You and the Company further agree that if any provision set forth in this
Paragraph 3 is not enforceable under the laws of the state in which you are employed following the termination of your employment with the Company, nothing in this Agreement shall prohibit you from engaging in such lawful conduct; provided however,
that if you elect to do so your rights to any of the severance pay set forth in Paragraph 1 shall be discontinued immediately. 
  
 4. Cooperation and Non-Disparagement. You agree that, during the Continuation Period, you will cooperate with the Company in every reasonable
respect and will use your best efforts to assist the Company with the transition of your duties to your successor. You further agree that, during the Continuation Period, you will not in any way or by any means disparage the Company, the members of
the Company’s Board of Directors or the Company’s officers and employees. The Company agrees that, during the Continuation Period, the Company’s senior management (EVP level and above) and Board of Directors will not in any way or by
any means disparage you to third parties. 
  
 5. Disclosure.
You agree that, during the Continuation Period, you will inform any new employer or other person or entity with whom you enter into a business relationship, before accepting employment or entering into a business relationship, of the existence
of Paragraphs 2, 3 and 4 above. 
  
 6. Employment Relationship.
Notwithstanding the foregoing, employment with the Company is for no specific period of time. Your employment with the Company is “at will,” meaning that either you or the Company may terminate your employment at any time and for any
reason, with or without cause. Any contrary representations that may have been made to you are superseded by this offer. This is the full and complete agreement between you and the Company on this term. Although your job duties, title, compensation
and benefits, as well as the Company’s personnel policies and procedures, may change from time to time, the “at will” 

 John True 
 November 10, 2003 
 Page 5 
  
 nature of your employment may only be changed in an express
written agreement signed by you and the Chief Executive Officer of the Company. 
  
 7. Withholding Taxes. All forms of compensation referred to in this letter agreement are subject to reduction to reflect applicable withholding and payroll taxes and other deductions required by law.

  
 8. Entire Agreement. This letter agreement supersedes
and replaces any prior agreements, representations or understandings, whether written, oral or implied, between you and the Company with respect to the subject matter hereof, including (without limitation) the letter agreement dated May 21, 2003.

  
 9. Severability. If any provision of this letter
agreement becomes or is deemed invalid, illegal or unenforceable in any applicable jurisdiction by reason of the scope, extent or duration of its coverage, then that provision will be deemed amended to the minimum extent necessary to conform to
applicable law so as to be valid and enforceable or, if the provision cannot be so amended without materially altering the intention of the parties, then the provision will be stricken and the remainder of this letter agreement will continue in full
force and effect. If any provision of this letter agreement is rendered illegal by any present or future statute, law, ordinance or regulation (collectively, the “Law”), then that provision will be curtailed or limited only to the minimum
extent necessary to bring the provision into compliance with the Law. All the other terms and provisions of this letter agreement will continue in full force and effect without impairment or limitation. 
  
 10. Arbitration. You and the Company agree to waive any rights to a
trial before a judge or jury and agree to arbitrate before a neutral arbitrator any and all claims or disputes arising out of this letter agreement and any and all claims arising from or relating to your employment with the Company, including (but
not limited to) claims against any current or former employee, director or agent of the Company, claims of wrongful termination, retaliation, discrimination, harassment, breach of contract, breach of the covenant of good faith and fair dealing,
defamation, invasion of privacy, fraud, misrepresentation, constructive discharge or failure to provide a leave of absence, or claims regarding commissions, stock options or bonuses, infliction of emotional distress or unfair business practices.

  
 The arbitrator’s decision must be written and must
include the findings of fact and law that support the decision. The arbitrator’s decision will be final and binding on both parties, except to the extent applicable law allows for judicial review of arbitration awards. The arbitrator may award
any remedies that would otherwise be available to the parties if they were to bring the dispute in court. The arbitration will be conducted in accordance with the National Rules for the Resolution of Employment Disputes of the American Arbitration
Association; provided, however that the arbitrator must allow the discovery authorized by the California Arbitration Act or the discovery that the arbitrator deems necessary for the parties to vindicate their respective claims or defenses. The
arbitration will take place in Santa Clara County or, at your option, the county in which you primarily worked with the Company at the time when the arbitrable dispute or claim first arose. 

 John True 
 November 10, 2003 
 Page 6 
  
 You and the Company will share the costs of
arbitration equally, except that the Company will bear the cost of the arbitrator’s fee and any other type of expense or cost that you would not be required to bear if you were to bring the dispute or claim in court. Both the Company and you
will be responsible for their own attorneys’ fees, and the arbitrator may not award attorneys’ fees unless a statute or contract at issue specifically authorizes such an award. 
  
 This arbitration provision does not apply to (a) workers’ compensation or unemployment insurance claims or (b) claims
concerning the validity, infringement or enforceability of any trade secret, patent right, copyright or any other trade secret or intellectual property held or sought by either you or the Company (whether or not arising under the Proprietary
Information and Inventions Agreement between you and the Company). 
  
 If an arbitrator or court of competent jurisdiction (the “Neutral”) determines that any provision of this arbitration provision is illegal or unenforceable, then the Neutral shall modify or replace the language of this arbitration
provision with a valid and enforceable provision, but only to the minimum extent necessary to render this arbitration provision legal and enforceable. 
  
 * * * * * 
  
 You may indicate your agreement with these terms by signing and dating the enclosed duplicate original of this letter agreement and returning it to me.

  

			
	Very truly yours,
	
	 ARIBA, INC.

		
	By:	 	 
	 	 	

	 Title:
	 	 
	 	 	

  
 I agree with the forgoing terms
and conditions: 
  

			
	
	 
	

	 	 	Signature of John True
	 Dated:
	 	 
	 	 	

 John True 
 November 10, 2003 
 Page 7 
  
 Exhibit A 
  
 [*] 
  

	*	CONFIDENTIAL TREATMENT REQUESTED. CONFIDENTIAL PORTION HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE COMMISSION.

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