Document:

Form of Director Stock Option Agreement

 Exhibit 10.4 
 [Form of Director Stock Option Agreement] 
 AMENDED AND RESTATED 
 NOVATEL WIRELESS, INC. 
 2000 STOCK
INCENTIVE PLAN 
 NONSTATUTORY STOCK OPTION AGREEMENT 
 Novatel Wireless, Inc., a Delaware corporation (the “Company”), hereby grants options (the “Options”) to purchase shares of its common stock (the “Shares”) to the
individual named below (the “Optionee”). The terms and conditions of the Options are set forth in this agreement (the “Agreement”) and in the Company’s Amended and Restated 2000 Stock Incentive Plan (the
“Plan”). 
 Name of Optionee: 
 Date of Option Grant: 
 Number of Options Granted: 
 Exercise Price per Share: US$ 
 Vesting
Commencement Date: 
 Option Expiration Date: 
 Vesting Schedule: 
 Subject to the terms and conditions of this Agreement, one-fifth (1/5th) of the
Options granted hereunder shall vest and become exercisable on the 6-month anniversary of the Vesting Commencement Date. One-thirtieth (1/30th) of the remaining balance of the Options shall vest on the seven month anniversary of the Vesting
Commencement Date and on each monthly anniversary thereafter for such thirty (30) month period. The resulting aggregate number of vested Options shall be rounded to the nearest whole number. No Options shall vest after the Optionee’s
service with or for the Company or any subsidiary thereof has terminated for any reason. 
 By signing this Agreement, the Optionee
hereby agrees to all the terms and conditions set forth in this Agreement and in the Plan, a copy of which is available on the Company’s intranet site. 
  

			
	Optionee:	 	  

		 	(Signature)
	Company:	 	  

		 	(Signature)
	Title:	 	  

 Attachment 
 AMENDED AND RESTATED 
 NOVATEL WIRELESS, INC. 
 2000 STOCK INCENTIVE PLAN 
 NONSTATUTORY STOCK OPTION AGREEMENT 
  

			
	The Plan and Other Agreements	  	 The text of the Plan is incorporated into this Agreement by reference. Certain capitalized terms used in this Agreement are defined in the
Plan.
  
 This Agreement and the Plan constitute the entire understanding between you and
the Company regarding these Options. Any prior agreements, commitments or negotiations concerning these Options are hereby superseded entirely.

		
	Nonstatutory Stock Option	  	This Option is not intended to be an Incentive Stock Option under section 422 of the Internal Revenue Code and will be interpreted accordingly.
		
	Vesting	  	These Options are exercisable only before they expire and then only with respect to those that are vested. These Options will vest according to the Vesting Schedule on the attached cover
sheet.
		
	Term	  	These Options will expire in any event at the close of business at Company headquarters on the 10th anniversary of the Date of Option Grant, as shown on the cover sheet. These Options will
expire earlier if your Service terminates, as described below.
		
	Regular Termination	  	If your Service terminates for any reason, other than death, Disability or Cause, as defined below, then these Options will expire at the close of business at Company headquarters on the 90th
calendar day after your Service termination date.
		
	Termination for Cause	  	If your Service is terminated for Cause, as determined by the Board in its sole discretion, then immediately upon such event you automatically forfeit all rights to these Options and they
shall immediately expire. For purposes of this Agreement, “Cause” shall mean the termination of your Service due to your commission of any act of fraud, embezzlement or dishonesty; any unauthorized use or disclosure by you of confidential
information or trade secrets of the Company (or any Parent, Subsidiary or Affiliate thereof); or any other intentional misconduct on your part that adversely affects the business or affairs of the Company (or any Parent, Subsidiary or Affiliate
thereof) in a material manner. This definition shall not restrict in any way the Company’s or any Parent’s, Subsidiary’s or Affiliate’s right to discharge you for any other reason, nor shall

			
		  	this definition be deemed to be inclusive of all the acts or omissions which constitute “Cause” for purposes other than this Agreement.
		
	Death	  	If your Service terminates because of your death, then these Options will expire at the close of business at Company headquarters on the date twelve (12) months after the date of death. At any
time during that twelve (12) month period, your estate or heirs may exercise those Options which were vested as of the date of your death.
		
	Disability	  	If your Service terminates because of your Disability, then these Options will expire at the close of business at Company headquarters on the date twelve (12) months after your Service
termination date.
		
	Leaves of Absence	  	 For purposes of these Options, your Service does not terminate when you go on a bona fide leave of absence that was approved by the Company in
writing, if the terms of the leave provide for continued Service crediting, or when continued Service crediting is required by applicable law. Your Service terminates in any event when the approved leave ends unless you immediately return to active
work at the Company.
  
 The Company, in its sole discretion, determines which leaves count
for this purpose, as well as the point in time your Service terminates for all purposes under the Plan.

		
	Notice of Exercise	  	 When you wish to exercise any of these Options, you must notify the Company in advance by filing the proper “Notice of Exercise” form at
the address given on the form. Your notice must specify how many Shares you wish to purchase. Your notice must also specify how your Shares should be registered (in your name only or in your and your spouse’s names as community property or as
joint tenants with right of survivorship). The notice will be effective on the date received by the Company.
  
 If someone else wants to exercise these Options after your death, that person must prove to the Company’s satisfaction that he or she is entitled to do so.

		
	Form of Payment	  	 When you submit your Notice of Exercise, you must include payment of the Exercise Price for the Shares you are purchasing at that time. Payment may
be made in one of the following forms:
  
 •      Cash, your personal check, a cashier’s check or a money order.

			
		  	 •      By delivery (on a form prescribed by the Company) of an irrevocable direction to a securities broker
to sell Shares and to deliver all or part of the sale proceeds to the Company in payment of the aggregate exercise price.

		
	Withholding Taxes	  	You will not be allowed to exercise these Options unless you make acceptable arrangements to pay any withholding or other taxes that may be due as a result of the exercise of these Options or
sale of Shares acquired under these Options.
		
	Transfer of Options	  	Prior to your death, only you may exercise these Options. You cannot transfer or assign these Options. For instance, you may not sell the Options themselves or use them as security for a loan.
If you attempt to do any of these things, the Options will immediately become invalid. You may, however, dispose of these Options in your will. Regardless of any marital property settlement agreement, the Company is not obligated to honor a Notice
of Exercise from your spouse, nor is the Company obligated to recognize your spouse’s interest in these Options in any other way.
		
	Retention Rights	  	These Options or this Agreement do not give you the right to be retained or to continue to be retained by the Company (or any Parent or any Subsidiaries or Affiliates thereof) in any employment
or other capacity. The Company (or any Parent and any Subsidiaries or Affiliates thereof) reserves the right to terminate your Service at any time and for any reason.
		
	Stockholder Rights	  	You, or your estate or heirs, have no rights as a stockholder of the Company until a certificate for your exercised Shares has been issued. No adjustments are made for dividends or other rights
if the applicable record date occurs before your stock certificate is issued, except as otherwise described in the Plan.
		
	Adjustments	  	In the event of a stock split, a stock dividend or a similar change in the Company stock, the number of Shares covered by these Options and the exercise price per Share may be adjusted (and
rounded down to the nearest whole number) pursuant to the Plan. These Options shall be subject to the terms of the agreement of merger, liquidation or reorganization in the event the Company is subject to such corporate activity.

			
	Applicable Law	  	This Agreement will be interpreted and enforced under the laws of the State of California.

 By signing the cover sheet of this Agreement, you agree to all of the terms and conditions described above
and in the Plan.Amended and Restated 2000 Employee Stock Purchase Plan

 EXHIBIT 10.5 
 

 
 2000 EMPLOYEE STOCK PURCHASE PLAN 

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
	Section 1	  	    PURPOSE	  	1
			
	 Section 2
	  	    DEFINITIONS	  	1
			
	 2.1
	  	“1934 Act”	  	1
			
	 2.2
	  	“Board”	  	1
			
	 2.3
	  	“Code”	  	1
			
	 2.4
	  	“Committee”	  	1
			
	 2.5
	  	“Common Stock”	  	1
			
	 2.6
	  	“Company”	  	1
			
	 2.7
	  	“Compensation”	  	1
			
	 2.8
	  	“Eligible Employee”	  	1
			
	 2.9
	  	“Employee”	  	2
			
	 2.10
	  	“Employer” or “Employers”	  	2
			
	 2.11
	  	“Enrollment Date”	  	2
			
	 2.12
	  	“Grant Date”	  	2
			
	 2.13
	  	“Participant”	  	2
			
	 2.14
	  	“Plan”	  	2
			
	 2.15
	  	“Purchase Date”	  	2
			
	 2.16
	  	“Subsidiary”	  	2
			
	 Section 3
	  	    SHARES SUBJECT TO THE PLAN	  	2
			
	 3.1
	  	Number Available.	  	2
			
	 3.2
	  	Adjustments.	  	3
			
	 Section 4
	  	    ENROLLMENT	  	3
			
	 4.1
	  	Participation.	  	3
			
	 4.2
	  	Payroll Withholding.	  	3
			
	 Section 5
	  	    OPTIONS TO PURCHASE COMMON STOCK	  	3
			
	 5.1
	  	Grant of Option.	  	3
			
	 5.2
	  	Duration of Option.	  	4
			
	 5.3
	  	Number of Shares Subject to Option.	  	4
			
	 5.4
	  	Other Terms and Conditions.	  	4
			
	 Section 6
	  	    PURCHASE OF SHARES	  	4
			
	 6.1
	  	Exercise of Option.	  	4

  

 -I- 

 TABLE OF CONTENTS 
 (continued) 
  

					
	 	  	 	  	Page
	 6.2
	  	Delivery of Shares.	  	5
			
	 6.3
	  	Exhaustion of Shares.	  	5
			
	 Section 7
	  	    WITHDRAWAL	  	5
			
	 7.1
	  	Withdrawal.	  	5
			
	 Section 8
	  	    CESSATION OF PARTICIPATION	  	5
			
	 8.1
	  	Termination of Status as Eligible Employee.	  	5
			
	 Section 9
	  	    DESIGNATION OF BENEFICIARY	  	5
			
	 9.1
	  	Designation.	  	5
			
	 9.2
	  	Changes.	  	6
			
	 9.3
	  	Failed Designations.	  	6
			
	 Section 10
	  	    ADMINISTRATION	  	6
			
	 10.1
	  	Plan Administrator.	  	6
			
	 10.2
	  	Actions by Committee.	  	6
			
	 10.3
	  	Powers of Committee.	  	6
			
	 10.4
	  	Decisions of Committee.	  	7
			
	 10.5
	  	Administrative Expenses.	  	7
			
	 10.6
	  	Eligibility to Participate.	  	7
			
	 10.7
	  	Indemnification.	  	7
			
	Section 11	  	    AMENDMENT, TERMINATION, AND DURATION	  	7
			
	 11.1
	  	Amendment, Suspension, or Termination.	  	7
			
	 11.2
	  	Duration of the Plan.	  	8
			
	Section 12	  	    GENERAL PROVISIONS	  	8
			
	 12.1
	  	Participation by Subsidiaries.	  	8
			
	 12.2
	  	Inalienability.	  	8
			
	 12.3
	  	Severability.	  	8
			
	 12.4
	  	Requirements of Law.	  	8
			
	 12.5
	  	Compliance with Rule 16b-3.	  	8
			
	 12.6
	  	No Enlargement of Employment Rights.	  	9
			
	 12.7
	  	Apportionment of Costs and Duties.	  	9
			
	 12.8
	  	Construction and Applicable Law.	  	9
			
	 12.9
	  	Captions.	  	9
		
	EXECUTION	  	9

  

 -II- 

 AMENDED AND RESTATED 
 NOVATEL WIRELESS, INC. 
 2000 EMPLOYEE STOCK PURCHASE PLAN 
 SECTION 1 
 PURPOSE 
 Novatel Wireless, Inc. hereby establishes the Novatel Wireless, Inc. 2000 Employee Stock Purchase Plan, effective as of the Initial Public Offering Date,
in order to provide eligible employees of the Company and its participating Subsidiaries with the opportunity to purchase Common Stock through payroll deductions. The Plan is intended to qualify as an employee stock purchase plan under
Section 423(b) of the Code. 
 SECTION 2 
 DEFINITIONS 
 2.1 “1934 Act” means the Securities Exchange Act of 1934, as amended.
Reference to a specific Section of the 1934 Act or regulation thereunder shall include such Section or regulation, any valid regulation promulgated under such Section, and any comparable provision of any future legislation or regulation amending,
supplementing or superseding such Section or regulation. 
 2.2 “Board” means the Board of Directors of the Company.

 2.3 “Code” means the Internal Revenue Code of 1986, as amended. Reference to a specific Section of the Code or regulation
thereunder shall include such Section or regulation, any valid regulation promulgated under such Section, and any comparable provision of any future legislation or regulation amending, supplementing or superseding such Section or regulation.

 2.4 “Committee” shall mean the committee appointed by the Board to administer the Plan. Any member of the Committee may
resign at any time by notice in writing mailed or delivered to the Secretary of the Company. As of the effective date of the Plan, the Plan shall be administered by the Compensation Committee of the Board. 
 2.5 “Common Stock” means the common stock of the Company. 
 2.6 “Company” means Novatel Wireless, Inc., a Delaware corporation. 
 2.7
“Compensation” means a Participant’s regular wages. The Committee, in its discretion, may (on a uniform and nondiscriminatory basis) establish a different definition of Compensation prior to an Enrollment Date for all options
to be granted on such Enrollment Date. 
 2.8 “Eligible Employee” means every Employee of an Employer, except (a) any
Employee who immediately after the grant of an option under the Plan, would own stock 

 and/or hold outstanding options to purchase stock possessing five percent (5%) or more of the total combined voting
power or value of all classes of stock of the Company or of any Subsidiary of the Company (including stock attributed to such Employee pursuant to Section 424(d) of the Code), or (b) as provided in the following sentence. The Committee, in
its discretion, from time to time may, prior to an Enrollment Date for all options to be granted on such Enrollment Date, determine (on a uniform and nondiscriminatory basis) that an Employee shall not be an Eligible Employee if he or she:
(1) has not completed at least two years of service since his or her last hire date (or such lesser period of time as may be determined by the Committee in its discretion), (2) customarily works not more than 20 hours per week (or such
lesser period of time as may be determined by the Committee in its discretion), (3) customarily works not more than 5 months per calendar year (or such lesser period of time as may be determined by the Committee in its discretion), or
(4) is an officer or other manager. 
 2.9 “Employee” means an individual who is a common-law employee of any Employer,
whether such employee is so employed at the time the Plan is adopted or becomes so employed subsequent to the adoption of the Plan. 
 2.10
“Employer” or “Employers” means any one or all of the Company, and those Subsidiaries which, with the consent of the Board, have adopted the Plan. 
 2.11 “Enrollment Date” means such dates as may be determined by the Committee (in its discretion and on a uniform and nondiscriminatory
basis) from time to time. 
 2.12 “Grant Date” means any date on which a Participant is granted an option under the Plan.

 2.13 “Participant” means an Eligible Employee who (a) has become a Participant in the Plan pursuant to
Section 4.1 and (b) has not ceased to be a Participant pursuant to Section 8 or Section 9. 
 2.14
“Plan” means the Novatel Wireless, Inc. 2000 Employee Stock Purchase Plan, as set forth in this instrument and as hereafter amended from time to time. 
 2.15 “Purchase Date” means such dates as may be determined by the Committee (in its discretion and on a uniform and nondiscriminatory basis) from time to time prior to an Enrollment Date for all
options to be granted on such Enrollment Date. 
 2.16 “Subsidiary” means any corporation in an unbroken chain of
corporations beginning with the Company if each of the corporations other than the last corporation in the unbroken chain then owns stock possessing fifty percent (50%) or more of the total combined voting power of all classes of stock in one
of the other corporations in such chain. 
 SECTION 3 
 SHARES SUBJECT TO THE PLAN 
 3.1 Number Available. 181,117 shares of Common Stock are currently
available for issuance pursuant to the Plan. On the first day of each fiscal year of the Company, Shares will be added to the Plan equal to the lesser of (a) 0.5% of the outstanding Shares on the 
  

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 last day of the prior fiscal year, (b) 18,000 Shares, or such lesser number of Shares as may be determined by the
Board in its sole discretion. Shares sold under the Plan may be newly issued shares or treasury shares. 
 3.2 Adjustments. In the
event of any reorganization, recapitalization, stock split, reverse stock split, stock dividend, combination of shares, merger, consolidation, offering of rights or other similar change in the capital structure of the Company, the Board may make
such adjustment, if any, as it deems appropriate in the number, kind and purchase price of the shares available for purchase under the Plan and in the maximum number of shares subject to any option under the Plan. 
 SECTION 4 
 ENROLLMENT 
 4.1 Participation. Each Eligible Employee may elect to become a Participant by enrolling or re-enrolling in the Plan effective as of any
Enrollment Date. In order to enroll, an Eligible Employee must complete, sign and submit to the Company an enrollment form in such form, manner and by such deadline as may be specified by the Committee from time to time (in its discretion and on a
nondiscriminatory basis). Any Participant whose option expires and who has not withdrawn from the Plan automatically will be re-enrolled in the Plan on the Enrollment Date immediately following the Purchase Date on which his or her option expires.
Any Participant whose option has not expired and who has not withdrawn from the Plan automatically will be deemed to be un-enrolled from the Participant’s current option and be enrolled as of a subsequent Enrollment Date if the price per Share
on such subsequent Enrollment Date is lower than the price per Share on the Enrollment Date relating to the Participant’s current option. 
 4.2 Payroll Withholding. On his or her enrollment form, each Participant must elect to make Plan contributions via payroll withholding from his or her Compensation. Pursuant to such procedures as the Committee may specify from time
to time, a Participant may elect to have withholding equal to a whole percentage from 1% to 10% (or such lesser percentage that the Committee may establish from time to time for all options to be granted on any Enrollment Date). A Participant may
elect to increase or decrease his or her rate of payroll withholding by submitting a new enrollment form in accordance with such procedures as may be established by the Committee from time to time. A Participant may stop his or her payroll
withholding by submitting a new enrollment form in accordance with such procedures as may be established by the Committee from time to time. In order to be effective as of a specific date, an enrollment form must be received by the Company no later
than the deadline specified by the Committee, in its discretion and on a nondiscriminatory basis, from time to time. Any Participant who is automatically re-enrolled in the Plan will be deemed to have elected to continue his or her contributions at
the percentage last elected by the Participant. 
 SECTION 5 
 OPTIONS TO PURCHASE COMMON STOCK 
 5.1 Grant of Option. On each Enrollment Date on which the
Participant enrolls or re-enrolls in the Plan, he or she shall be granted an option to purchase shares of Common Stock. 
  

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 5.2 Duration of Option. Each option granted under the Plan shall expire on the earliest to occur
of (a) the completion of the purchase of shares on the last Purchase Date occurring within 24 months of the Grant Date of such option, (b) such shorter option period as may be established by the Committee from time to time prior to an
Enrollment Date for all options to be granted on such Enrollment Date, or (c) the date on which the Participant ceases to be such for any reason. Until otherwise determined by the Committee for all options to be granted on an Enrollment Date,
the period referred to in clause (b) in the preceding sentence shall mean the period from the applicable Enrollment Date through the last business day prior to the immediately following Enrollment Date. 
 5.3 Number of Shares Subject to Option. The number of shares available for purchase by each Participant under the option will be established by
the Committee from time to time prior to an Enrollment Date for all options to be granted on such Enrollment Date. 
 5.4 Other Terms and
Conditions. Each option shall be subject to the following additional terms and conditions: 
 (a) payment for shares
purchased under the option shall be made only through payroll withholding under Section 4.2; 
 (b) purchase of shares
upon exercise of the option will be accomplished only in accordance with Section 6.1; 
 (c) the price per share under
the option will be determined as provided in Section 6.1; and 
 (d) the option in all respects shall be subject to such
other terms and conditions (applied on a uniform and nondiscriminatory basis), as the Committee shall determine from time to time in its discretion. 
 SECTION 6 
 PURCHASE OF SHARES 
 6.1 Exercise of Option. Subject to Section 6.2, on each Purchase Date, the funds then credited to each Participant’s account shall be used to purchase whole shares of Common Stock. Any cash remaining after whole shares of
Common Stock have been purchased shall be carried forward in the Participant’s account for the purchase of shares on the next Purchase Date. The price per Share of the Shares purchased under any option granted under the Plan shall be
eighty-five percent (85%) of the lower of: 
 (a) the closing price per Share on the Grant Date for such option on the
NASDAQ National Market System; or 
 (b) the closing price per Share on the Purchase Date on the NASDAQ National Market
System; 
 provided, however, that with respect to any Grant Date under the Plan that coincides with the date of the final prospectus for the initial public
offering of the Common Stock, the price in clause (a) above shall be the price per Share at which shares of Common Stock are initially offered for sale to the public by the Company’s underwriters in such offering. 
  

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 6.2 Delivery of Shares. As directed by the Committee in its sole discretion, shares purchased on
any Purchase Date shall be delivered directly to the Participant or to a custodian or broker (if any) designated by the Committee to hold shares for the benefit of the Participants. As determined by the Committee from time to time, such shares shall
be delivered as physical certificates or by means of a book entry system. 
 6.3 Exhaustion of Shares. If at any time the shares
available under the Plan are over-enrolled, enrollments shall be reduced proportionately to eliminate the over-enrollment. Such reduction method shall be “bottom up,” with the result that all option exercises for one share shall be
satisfied first, followed by all exercises for two shares, and so on, until all available shares have been exhausted. Any funds that, due to over-enrollment, cannot be applied to the purchase of whole shares shall be refunded to the Participants
(without interest thereon). 
 SECTION 7 
 WITHDRAWAL 
 7.1 Withdrawal. A Participant may withdraw from the Plan by submitting a completed enrollment form to the
Company. A withdrawal will be effective only if it is received by the Company by the deadline specified by the Committee (in its discretion and on a uniform and nondiscriminatory basis) from time to time. When a withdrawal becomes effective, the
Participant’s payroll contributions shall cease and all amounts then credited to the Participant’s account shall be distributed to him or her (without interest thereon). 
 SECTION 8 
 CESSATION OF PARTICIPATION 
 8.1 Termination of Status as Eligible Employee. A Participant shall cease to be a Participant immediately upon the cessation of his or her status
as an Eligible Employee (for example, because of his or her termination of employment from all Employers for any reason). As soon as practicable after such cessation, the Participant’s payroll contributions shall cease and all amounts then
credited to the Participant’s account shall be distributed to him or her (without interest thereon). If a Participant is on a Company-approved leave of absence, his or her participation in the Plan shall continue for so long as he or she
remains an Eligible Employee and has not withdrawn from the Plan pursuant to Section 7.1. 
 SECTION 9 
 DESIGNATION OF BENEFICIARY 
 9.1
Designation. Each Participant may, pursuant to such uniform and nondiscriminatory procedures as the Committee may specify from time to time, designate one or more Beneficiaries to receive any amounts credited to the Participant’s account
at the time of his or her death. Notwithstanding any contrary provision of this Section 9, Sections 9.1 and 9.2 shall be operative only after (and for so long as) the Committee determines (on a uniform and nondiscriminatory basis) to permit the
designation of Beneficiaries. 
  

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 9.2 Changes. A Participant may designate different Beneficiaries (or may revoke a prior
Beneficiary designation) at any time by delivering a new designation (or revocation of a prior designation) in like manner. Any designation or revocation shall be effective only if it is received by the Committee. However, when so received, the
designation or revocation shall be effective as of the date the designation or revocation is executed (whether or not the Participant still is living), but without prejudice to the Committee on account of any payment made before the change is
recorded. The last effective designation received by the Committee shall supersede all prior designations. 
 9.3 Failed Designations.
If a Participant dies without having effectively designated a Beneficiary, or if no Beneficiary survives the Participant, the Participant’s Account shall be payable to his or her estate. 
 SECTION 10 
 ADMINISTRATION 
 10.1 Plan Administrator. The Plan shall be administered by the Committee. The Committee shall have the authority to control and manage the
operation and administration of the Plan. 
 10.2 Actions by Committee. Each decision of a majority of the members of the Committee
then in office shall constitute the final and binding act of the Committee. The Committee may act with or without a meeting being called or held and shall keep minutes of all meetings held and a record of all actions taken by written consent.

 10.3 Powers of Committee. The Committee shall have all powers and discretion necessary or appropriate to supervise the
administration of the Plan and to control its operation in accordance with its terms, including, but not by way of limitation, the following discretionary powers: 
 (a) To interpret and determine the meaning and validity of the provisions of the Plan and the options and to determine any question
arising under, or in connection with, the administration, operation or validity of the Plan or the options; 
 (b) To
determine any and all considerations affecting the eligibility of any employee to become a Participant or to remain a Participant in the Plan; 
 (c) To cause an account or accounts to be maintained for each Participant; 
 (d) To determine
the time or times when, and the number of shares for which, options shall be granted; 
 (e) To establish and revise an
accounting method or formula for the Plan; 
 (f) To designate a custodian or broker to receive shares purchased under the
Plan and to determine the manner and form in which shares are to be delivered to the designated custodian or broker; 
  

 6 

 (g) To determine the status and rights of Participants and their Beneficiaries or
estates; 
 (h) To employ such brokers, counsel, agents and advisers, and to obtain such broker, legal, clerical and other
services, as it may deem necessary or appropriate in carrying out the provisions of the Plan; 
 (i) To establish, from time
to time, rules for the performance of its powers and duties and for the administration of the Plan; 
 (j) To adopt such
procedures and subplans as are necessary or appropriate to permit participation in the Plan by employees who are foreign nationals or employed outside of the United States; 
 (k) To delegate to any one or more of its members or to any other person, severally or jointly, the authority to perform for and on behalf
of the Committee one or more of the functions of the Committee under the Plan. 
 10.4 Decisions of Committee. All actions,
interpretations, and decisions of the Committee shall be conclusive and binding on all persons, and shall be given the maximum possible deference allowed by law. 
 10.5 Administrative Expenses. All expenses incurred in the administration of the Plan by the Committee, or otherwise, including legal fees and expenses, shall be paid and borne by the Employers, except any
stamp duties or transfer taxes applicable to the purchase of shares may be charged to the account of each Participant. Any brokerage fees for the purchase of shares by a Participant shall be paid by the Company, but fees and taxes (including
brokerage fees) for the transfer, sale or resale of shares by a Participant, or the issuance of physical share certificates, shall be borne solely by the Participant. 
 10.6 Eligibility to Participate. No member of the Committee who is also an employee of an Employer shall be excluded from participating in the Plan if otherwise eligible, but he or she shall not be entitled, as
a member of the Committee, to act or pass upon any matters pertaining specifically to his or her own account under the Plan. 
 10.7
Indemnification. Each of the Employers shall, and hereby does, indemnify and hold harmless the members of the Committee and the Board, from and against any and all losses, claims, damages or liabilities (including attorneys’ fees and
amounts paid, with the approval of the Board, in settlement of any claim) arising out of or resulting from the implementation of a duty, act or decision with respect to the Plan, so long as such duty, act or decision does not involve gross
negligence or willful misconduct on the part of any such individual. 
 SECTION 11 
 AMENDMENT, TERMINATION, AND DURATION 
 11.1 Amendment, Suspension, or
Termination. The Board, in its sole discretion, may amend or terminate the Plan, or any part thereof, at any time and for any reason. 
  

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 If the Plan is terminated, the Board, in its discretion, may elect to terminate all outstanding options either
immediately or upon completion of the purchase of shares on the next Purchase Date, or may elect to permit options to expire in accordance with their terms (and participation to continue through such expiration dates). If the options are terminated
prior to expiration, all amounts then credited to Participants’ accounts which have not been used to purchase shares shall be returned to the Participants (without interest thereon) as soon as administratively practicable. 
 11.2 Duration of the Plan. The Plan shall commence on the date specified herein, and subject to Section 11.1 (regarding the Board’s
right to amend or terminate the Plan), shall remain in effect for ten (10) years from the effective date. 
 SECTION 12 
 GENERAL PROVISIONS 
 12.1 Participation by
Subsidiaries. One or more Subsidiaries of the Company may become participating Employers by adopting the Plan and obtaining approval for such adoption from the Board. By adopting the Plan, a Subsidiary shall be deemed to agree to all of its
terms, including (but not limited to) the provisions granting exclusive authority (a) to the Board to amend the Plan, and (b) to the Committee to administer and interpret the Plan. An Employer may terminate its participation in the Plan at
any time. The liabilities incurred under the Plan to the Participants employed by each Employer shall be solely the liabilities of that Employer, and no other Employer shall be liable for benefits accrued by a Participant during any period when he
or she was not employed by such Employer. 
 12.2 Inalienability. In no event may either a Participant, a former Participant or his or
her Beneficiary, spouse or estate sell, transfer, anticipate, assign, hypothecate, or otherwise dispose of any right or interest under the Plan; and such rights and interests shall not at any time be subject to the claims of creditors nor be liable
to attachment, execution or other legal process. Accordingly, for example, a Participant’s interest in the Plan is not transferable pursuant to a domestic relations order. 
 12.3 Severability. In the event any provision of the Plan shall be held illegal or invalid for any reason, the illegality or invalidity shall not
affect the remaining parts of the Plan, and the Plan shall be construed and enforced as if the illegal or invalid provision had not been included. 
 12.4 Requirements of Law. The granting of options and the issuance of shares shall be subject to all applicable laws, rules, and regulations, and to such approvals by any governmental agencies or securities exchanges as the Committee
may determine are necessary or appropriate. 
 12.5 Compliance with Rule 16b-3. Any transactions under this Plan with respect to
officers (as defined in Rule 16a-1 promulgated under the 1934 Act) are intended to comply with all applicable conditions of Rule 16b-3. To the extent any provision of the Plan or action by the Committee fails to so comply, it shall be deemed null
and void, to the extent permitted by law and deemed advisable by the Committee. Notwithstanding any contrary provision of the Plan, if the Committee specifically determines that compliance with Rule 16b-3 no longer is required, all references in the
Plan to Rule 16b-3 shall be null and void. 
  

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 12.6 No Enlargement of Employment Rights. Neither the establishment or maintenance of the Plan,
the granting of options, the purchase of shares, nor any action of any Employer or the Committee, shall be held or construed to confer upon any individual any right to be continued as an employee of the Employer nor, upon dismissal, any right or
interest in any specific assets of the Employers other than as provided in the Plan. Each Employer expressly reserves the right to discharge any employee at any time, with or without cause. 
 12.7 Apportionment of Costs and Duties. All acts required of the Employers under the Plan may be performed by the Company for itself and its
Subsidiaries, and the costs of the Plan may be equitably apportioned by the Committee among the Company and the other Employers. Whenever an Employer is permitted or required under the terms of the Plan to do or perform any act, matter or thing, it
shall be done and performed by any officer or employee of the Employers who is thereunto duly authorized by the Employers. 
 12.8
Construction and Applicable Law. The Plan is intended to qualify as an “employee stock purchase plan” within the meaning of Section 423(b) of the Code. Any provision of the Plan which is inconsistent with Section 423(b) of
the Code shall, without further act or amendment by the Company or the Committee, be reformed to comply with the requirements of Section 423(b). The provisions of the Plan shall be construed, administered and enforced in accordance with such
Section and with the laws of the State of California (excluding California’s conflict of laws provisions). 
 12.9 Captions. The
captions contained in and the table of contents prefixed to the Plan are inserted only as a matter of convenience, and in no way define, limit, enlarge or describe the scope or intent of the Plan nor in any way shall affect the construction of any
provision of the Plan. 
 EXECUTION 
 IN WITNESS WHEREOF, Novatel Wireless, Inc., by its duly authorized officer, has executed this Plan. 
  

					
		 	NOVATEL WIRELESS, INC.
			
		 	By:	 	 /s/ Peter V. Leparulo

		 	Title:	 	CEO

  

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