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Exhibit 10.03    
    

        No.               

  
 

    ADAPTEC, INC.    
    
    2004 EQUITY INCENTIVE PLAN    
    
    RESTRICTED STOCK PURCHASE AGREEMENT
  (Stock Award Documentation)    
    

        This Restricted Stock Purchase Agreement (the "Agreement") is made and entered into as of
                        ,              (the
"Effective Date") by and between Adaptec, Inc., a
Delaware corporation (the "Company"), and the purchaser-participant named below (the "Participant").
Capitalized terms not defined herein shall have the meaning ascribed to them in the Company's 2004 Equity Incentive Plan (the "Plan"). 

	Participant:	 	

	

Social Security Number:	
 	

	

Address:	
 	

	

 	
 	

	

Total Number of Shares:	
 	

	

Purchase Price Per Share:	
 	

	

Total Purchase Price:	
 	

        1.     Purchase of Shares. 

        1.1   Purchase of Shares. On the Effective Date and subject to the terms and conditions of this Agreement and the Plan,
Participant hereby purchases from the Company, and the Company hereby sells to Participant, the Total Number of Shares set forth above (the "Shares") of
the Company's Common Stock at the Purchase Price Per Share as set forth above (the "Purchase Price Per Share") for a Total Purchase Price as set forth
above (the "Purchase Price"). As used in this Agreement, the term "Shares" includes the Shares purchased
under this Agreement and all securities received (i) in replacement of the Shares, (ii) as a result of stock dividends or stock splits with respect to the Shares, and (iii) in
replacement of the Shares in a merger, recapitalization, reorganization or similar corporate transaction. The Purchase Price Per Share shall not be less than $0.001 per Share (each Share's par value). 

        1.2   Title to Shares. The exact spelling of the name (names if Participant is married) under which Participant will take title
to the Shares is:                                 . 

        1.3   Payment. The Company hereby acknowledges Participant's payment of the Purchase Price by check for
$                         and/or aggregate payroll deductions of
$             that were earmarked for this purchase. 

        2.     Deliveries by Participant. Participant hereby delivers to the Company
(i) a duly executed copy of this Agreement, (ii) two (2) copies of a blank Stock Power and Assignment Separate from Stock Certificate in the form of  Exhibit 1 attached hereto (the
"Stock Powers"), both executed by Participant (and Participant's
spouse, if any), (iii) if Participant is married, a Consent of Spouse in the form of Exhibit 2 attached hereto (the
"Spouse Consent") executed by Participant's spouse, and (iv) payment of 

1

 

the
Purchase Price (if by delivery of a check, then a copy of the check is attached hereto as Exhibit 4). Participant hereby agrees that the
Company may satisfy Participant's obligation to pay to the Company each Share's par value by making appropriate payroll deductions from funds due the Participant. 

        3.     Company's Repurchase Option for Unvested Shares. The Company, or its assignee, shall have the
option to repurchase all or a portion of the Participant's Unvested Shares (as defined in Section 3.2 below) on the terms and conditions set forth in this Section (the
"Repurchase Option") if Participant's status as a Service Provider terminates for any reason, or no reason, including without limitation Participant's
death, Disability (as defined in the Plan), voluntary resignation or termination by the Company with or without cause. 

        3.1   Termination and Termination Date. In case of any dispute as to whether Participant's status as a Service Provider has
terminated, the Administrator shall have sole discretion to determine whether Participant's status as a Service Provider has terminated and the effective date of such termination (the
"Termination Date"). 

        3.2   Unvested and Vested Shares. Shares that are vested pursuant to the schedule set forth in this Section 3.2 are
"Vested Shares." Shares that are not vested pursuant to the schedule set forth in this Section 3.2 are "Unvested
Shares." Unvested Shares may not be sold or otherwise transferred by Participant without the Company's prior written consent. On the Effective Date all of the Shares will be
Unvested Shares. 

        (a)   [Vesting Schedule 1] Subject to Participant's continuous service as a Service Provider
throughout, 100% of the Shares shall become exercisable on the first anniversary of the Effective Date.] [OTHER VESTING SCHEDULE AS APPROVED FROM TIME
TO TIME]. 

        (b)   If the application of the vesting percentage causes a fractional share, such share shall be rounded down to the nearest
whole share except for the last installment in such vesting period, at the end of which the balance of Unvested Shares shall become Vested Shares. No Shares will become Vested Shares after the
Termination Date. The number of Shares that are Vested Shares or Unvested Shares will be proportionally adjusted for any stock split or similar change in the capital structure of the Company as set
forth in Section 13(a) of the Plan. 

        3.3   Exercise of Repurchase Option. At any time within ninety (90) days after the Termination Date, the Company, or its
assignee(s), may elect to repurchase any or all of the Participant's Unvested Shares by giving Participant written notice of exercise of the Repurchase Option. 

        3.4   Calculation of Repurchase Price. The Company or its assignee(s) shall have the option to repurchase from Participant (or
from Participant's personal representative as the case may be) the Participant's Unvested Shares at the Participant's original Purchase Price Per Share (as adjusted to reflect any stock split or
similar change in the capital structure of the Company as set forth in Section 13(a) of the Plan) (the "Repurchase Price"). 

        3.5   Payment of Repurchase Price. The Repurchase Price shall be payable, at the option of the Company or its assignee(s), by
check or by cancellation of all or a portion of any outstanding purchase money indebtedness owed by Participant to the Company, or such assignee, or by any combination thereof. The Repurchase Price
shall be paid without interest within sixty (60) days after exercise of the Repurchase Option. 

        3.6   Right of Termination Unaffected. Nothing in this Agreement shall be construed to limit or otherwise affect in any manner
whatsoever the right or power of the Company (or any Parent or Subsidiary of the Company) to terminate Participant's status as a Service Provider at any time for any reason or no reason, with or
without cause. 

2

 

        4.     Restrictions on Transfers. Purchaser shall not transfer, assign, grant a
lien or security interest in, pledge, hypothecate, encumber or otherwise dispose of any of the Shares that are subject to the Repurchase Option. 

        5.     Rights as a Stockholder. Subject to the terms and conditions of this
Agreement, Participant will have all of the rights of a stockholder of the Company with respect to the Shares from and after the date that Participant delivers payment of the Purchase Price until such
time as Participant disposes of the Shares or the Company and/or its assignee(s) exercise(s) the Repurchase Option. Upon an exercise of the Repurchase Option, Participant will have no further rights
as a holder of the Shares so purchased upon such exercise, other than the right to receive payment for the Shares so purchased in accordance with the provisions of this Agreement, and Participant will
promptly surrender the stock certificate(s) evidencing the Shares so purchased to the Company for transfer or cancellation. 

        6.     Escrow. As security for Participant's faithful performance of this
Agreement, Participant agrees, immediately upon receipt of the stock certificate(s) evidencing the Shares, to deliver such certificate(s), together with the Stock Powers executed by Participant and by
Participant's spouse, if any (with the date and number of Shares left blank), to the Secretary of the Company or other designee of the Company (the "Escrow
Holder"), who is hereby appointed to hold such certificate(s) and Stock Powers in escrow and to take all such actions and to effectuate all such transfers and/or releases of
such Shares as are in accordance with the terms of this Agreement. Escrow Holder will act solely for the Company as its agent and not as a fiduciary. Participant and the Company agree that Escrow
Holder will not be liable to any party to this Agreement (or to any other party) for any actions or omissions unless Escrow Holder is grossly negligent or intentionally fraudulent in carrying out the
duties of Escrow Holder under this Agreement. Escrow Holder may rely upon any letter, notice or other document executed with any signature purported to be genuine and may rely on the advice of counsel
and obey any order of any court with respect to the transactions contemplated by this Agreement. The Shares will be released from escrow upon termination of the Repurchase Option. 

        7.     Restrictive Legends and Stop-Transfer Orders. 

        7.1   Legends. Participant understands and agrees that the Company will place the legends set forth below or similar legends on
any stock certificate(s) evidencing the Shares, together with any other legends that may be required by state or federal securities laws, the Company's Certificate of Incorporation or Bylaws, any
other agreement between Participant and the Company or any agreement between Participant and any third party: 

THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFER, INCLUDING THE RIGHT OF REPURCHASE HELD BY THE ISSUER AND/OR ITS ASSIGNEE(S) AS SET
FORTH IN A RESTRICTED STOCK PURCHASE AGREEMENT BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES, A COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE ISSUER. SUCH TRANSFER
RESTRICTIONS, INCLUDING THE RIGHT OF REPURCHASE ARE BINDING ON TRANSFEREES OF THESE SHARES.

        7.2   Stop-Transfer Instructions. Participant agrees that, to ensure compliance with the restrictions imposed by
this Agreement, the Company may issue appropriate
"stop-transfer" instructions to its transfer agent, if any, and if the Company transfers its own securities, it may make appropriate notations to the same effect in its own records. 

        7.3   Refusal to Transfer. The Company will not be required (i) to transfer on its books any Shares that have been sold
or otherwise transferred in violation of any of the provisions of this Agreement or (ii) to treat as owner of such Shares, or to accord the right to vote or pay dividends to any participant or
other transferee to whom such Shares have been so transferred. 

3

 

        8.     Tax Consequences. PARTICIPANT UNDERSTANDS THAT PARTICIPANT MAY SUFFER
ADVERSE TAX CONSEQUENCES AS A RESULT OF PARTICIPANT'S PURCHASE OR DISPOSITION OF THE SHARES. PARTICIPANT REPRESENTS (i) THAT PARTICIPANT HAS CONSULTED WITH ANY TAX ADVISER THAT PARTICIPANT
DEEMS ADVISABLE IN CONNECTION WITH THE PURCHASE OR DISPOSITION OF THE SHARES AND (ii) THAT PARTICIPANT IS NOT RELYING ON THE COMPANY FOR ANY TAX ADVICE. Participant hereby acknowledges that
Participant has been informed that, unless an election is filed by the Participant with the Internal Revenue Service (and, if necessary, the proper state taxing authorities)  within 30 days of the purchase of the Shares to be effective, electing pursuant to Section 83(b) of the Internal Revenue Code (and similar
state tax provisions, if applicable) to be taxed currently on any difference between the Purchase Price of the Shares and their Fair Market Value on the date of purchase, there will be a recognition
of taxable income to the Participant, measured by the excess, if any, of the Fair Market Value of the Vested Shares, at the time they cease to be Unvested Shares, over the Purchase Price for such
Shares. Participant represents that Participant has consulted any tax advisers Participant deems advisable in connection with Participant's purchase of the Shares and the filing of the election under
Section 83(b) and similar tax provisions. A form of Election under Section 83(b) is attached hereto as Exhibit 3 for reference.  PARTICIPANT HEREBY ASSUMES ALL
RESPONSIBILITY FOR FILING SUCH ELECTION AND PAYING ANY TAXES RESULTING FROM SUCH ELECTION OR FROM FAILURE TO FILE THE ELECTION AND PAYING TAXES
RESULTING FROM THE LAPSE OF THE REPURCHASE RESTRICTIONS ON THE UNVESTED SHARES.

        9.     Withholding. Participant must make arrangements, satisfactory to the Company, for satisfaction of
any applicable foreign, federal, state or local income tax withholding requirements or social security requirements related to the receipt of Shares. Participant may elect (a
"Withholding Election") to pay the minimum statutory withholding tax obligation by the withholding of Shares from the total number of Shares deliverable
to the Participant in accordance with rules and procedures established by the Administrator. All Withholding Elections are subject to the approval of the Administrator and must be made in compliance
with rules and procedures established by the Administrator. The Administrator may require, in its discretion, that some portion of Vested Shares be retained by (or returned to) the Company to satisfy
such withholding requirements. In the absence of such arrangements Participant hereby authorizes the Administrator to withhold the required minimum amount from Participant's other sources of
compensation from the Company or any Affiliate. 

        10.   Compliance with Laws and Regulations. The issuance and transfer of the
Shares will be subject to and conditioned upon compliance by the Company and Participant with all applicable state and federal laws and regulations and with all applicable requirements of any stock
exchange or automated quotation system on which the Company's Common Stock may be listed or quoted at the time of such issuance or transfer. 

        11.   Successors and Assigns. The Company may assign any of its rights under
this Agreement, including its rights to repurchase Shares under the Repurchase Option. This Agreement shall be binding upon and inure to the benefit of the successors and assigns of the Company.
Subject to the restrictions on transfer herein set forth, this Agreement will be binding upon Participant and Participant's heirs, executors, administrators, legal representatives, successors and
assigns. 

        12.   Governing Law; Severability. This Agreement shall be governed by and
construed in accordance with the internal laws of the State of California as such laws are applied to agreements between California residents entered into and to be performed entirely within
California, excluding that body of laws pertaining to conflict of laws. If any provision of this Agreement is determined by a court of law to be illegal or unenforceable, then such provision will be
enforced to the maximum extent possible and the other provisions will remain fully effective and enforceable. 

4

 

        13.   Notices. Any notice required to be given or delivered to the Company
shall be in writing and addressed to the Stock Administration Manager of the Company at its principal corporate offices. Any notice required to be given or delivered to Participant shall be in writing
and addressed to Participant at the address indicated above or to such other address as Participant may designate in writing from time to time to the Company. All notices shall be deemed effectively
given upon personal delivery, (i) three (3) days after deposit in the United States mail by certified or registered mail (return receipt requested), (ii) one (1) business
day after its deposit with any return receipt express courier (prepaid), or (iii) one (1) business day after transmission by rapifax or telecopier. 

        14.   Further Instruments. The parties agree to execute such further
instruments and to take such further action as may be reasonably necessary to carry out the purposes and intent of this Agreement. 

        15.   Headings. The captions and headings of this Agreement are included for
ease of reference only and will be disregarded in interpreting or construing this Agreement. 

        16.   Entire Agreement. The Plan and this Agreement, together with all its
Exhibits, constitute the entire agreement and understanding of the parties with respect to the subject matter of this Agreement, and supersede all prior understandings and agreements, whether oral or
written, between the parties hereto with respect to the specific subject matter hereof. 

[Remainder of this Page Intentionally Left Blank, Signature Page Follows]

5

 

        IN
WITNESS WHEREOF, the Company has caused this Agreement to be executed by its duly authorized representative, and Participant has executed this Agreement, in
duplicate as of the Effective Date. 

	ADAPTEC, INC.	 	PARTICIPANT
	

By:	
 	

    
	
 	

    
 (Signature)
	

 (Please print name)	

 	

 (Please print name)
	

 (Please print title)	
 	

 	
 	

 
	

Address:	
 	

	
 	

Address:	
 	

	

	
 	

	

	
 	

	

Fax No.:	
 	

	
 	

Fax No.:	
 	

	

Phone No.	
 	

	
 	

Phone No.:	
 	

   

[Signature page to Adaptec, Inc. Restricted Stock Purchase Agreement]

6

LIST OF EXHIBITS  

        Exhibit 1:    Stock
Power and Assignment Separate from Stock Certificate 

        Exhibit 2:    Spouse
Consent 

        Exhibit 3:    Election
Under Section 83(b) of the Internal Revenue Code 

        Exhibit 4:    Copy
of Participant's Check 

EXHIBIT 1  

 STOCK POWER AND ASSIGNMENT

SEPARATE FROM STOCK CERTIFICATE  

Stock Power and Assignment

Separate from Stock Certificate  

        FOR VALUE RECEIVED and pursuant to that certain Restricted Stock Purchase Agreement No.       [COMPLETE AT
THE TIME OF EXERCISE] dated as of
                        ,             , [COMPLETE AT THE TIME OF
EXERCISE] (the "Agreement"), the undersigned hereby sells, assigns and transfers unto
                        ,
                         shares of the Common Stock
                        , par value per share, of
Adaptec, Inc., a Delaware corporation (the "Company"), standing in the undersigned's name on the
books of the Company represented by Certificate No(s).              [COMPLETE AT THE TIME OF
EXERCISE] delivered herewith, and does hereby irrevocably constitute and appoint the Secretary of the Company as the undersigned's
attorney-in-fact, with full power of substitution, to transfer said stock on the books of the Company. THIS ASSIGNMENT MAY ONLY BE USED AS AUTHORIZED BY THE AGREEMENT AND ANY
EXHIBITS THERETO. 

	Dated:	 	                                        
                  ,         	 	 
	

 	
 	

 	
 	

PARTICIPANT
	

 	
 	

 	
 	

 (Signature)
	

 	
 	

 	
 	

 (Please Print Name)
	

 	
 	

 	
 	

 (Spouse's Signature, if any)
	

 	
 	

 	
 	

 (Please Print Spouse's Name)

        Instructions to Participant:    Please do not fill in any blanks other than the signature line. The
purpose of this Stock Power and Assignment is to enable the Company and/or its assignee(s) to acquire the shares upon exercise of its "Repurchase Option" set forth in the Agreement without requiring
additional signatures on the part of the Participant or Participant's Spouse, if any. 

EXHIBIT 2  

 SPOUSE CONSENT  

Spouse Consent  

        The undersigned spouse of                          (the
"Participant") has read, understands,
and hereby approves the Restricted Stock Purchase Agreement between Participant and the Company (the "Agreement"). In consideration of the Company's
granting my spouse the right to purchase the Shares as set forth in the Agreement, the undersigned hereby agrees to be irrevocably bound by the Agreement and further agrees that any community property
interest shall similarly be bound by the Agreement. The undersigned hereby appoints Participant as my attorney-in-fact with respect to any amendment or exercise of any rights
under the Agreement. 

	Date:	 	    
	 	    
 Print Name of Participant's Spouse
	

 (Please print name)	
 	

 Signature of Participant's Spouse
	

    
 (Please print title)	
 	

Address:	
 	

    

	

 	
 	

 	
 	

	

 	
 	

 	
 	

	

 	
 	

 	
 	

        [            ]
Participant, initial this box if you do not have a spouse. 

EXHIBIT 3  

 ELECTION UNDER SECTION 83(b) OF THE INTERNAL REVENUE CODE  

Election Under Section 83(b) of the Internal Revenue Code  

        The undersigned Taxpayer hereby elects, pursuant to Section 83(b) of the Internal Revenue Code, as amended, to include in gross income for the Taxpayer's
current taxable year the excess, if any, of the fair market value of the property described below at the time of transfer over the amount paid for such property, as compensation for services. 

	1.	 	TAXPAYER'S NAME:	 	          

	

 	
 	

TAXPAYER'S ADDRESS:	
 	

          

	

 	
 	

 	
 	

	

 	
 	

SOCIAL SECURITY NUMBER:	
 	

          

	2.
	The
property with respect to which the election is made is described as follows:                          shares of Common
Stock of
                         Adaptec, Inc., a Delaware corporation (the "Company"), which is Taxpayer's employer or the
corporation for whom the Taxpayer performs services.

	3.
	The
date on which the shares were purchased was                         ,
             and this election is made for calendar year
            .

	4.
	The
shares are subject to the following restrictions: The Company may repurchase all or a portion of the shares at the Taxpayer's original purchase price under certain conditions at
the time of Taxpayer's termination of employment or services.

	5.
	The
fair market value of the shares (without regard to restrictions other than restrictions which by their terms will never lapse) was
$                         per
share at the time of purchase.

	6.
	The
amount paid for such shares was $                         per share.

	7.
	The
Taxpayer has submitted a copy of this statement to Stock Administration at the Company. 

        THIS
ELECTION MUST BE FILED WITH THE INTERNAL REVENUE SERVICE ("IRS"), AT THE OFFICE WHERE THE TAXPAYER FILES ANNUAL INCOME TAX RETURNS,  WITHIN 30 DAYS
AFTER THE DATE OF TRANSFER OF THE PROPERTY, AND MUST ALSO BE FILED WITH THE TAXPAYER'S INCOME TAX RETURNS FOR THE CALENDAR YEAR. THE
ELECTION CANNOT BE REVOKED WITHOUT THE CONSENT OF THE IRS. 

	Dated:	 	                                        
                  ,             	 	          
 Taxpayer's Signature

EXHIBIT 4  

 COPY OF PARTICIPANT'S CHECK  

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Exhibit 10.03

ADAPTEC, INC. 2004 EQUITY INCENTIVE PLAN RESTRICTED STOCK PURCHASE AGREEMENT (Stock Award Documentation)QuickLinks
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Exhibit 10.04    
    

        No.               

  
 

    ADAPTEC, INC.
  
    2004 EQUITY INCENTIVE PLAN
  
    RESTRICTED STOCK UNIT AGREEMENT
  (Stock Award Documentation for RSUs)    

        The
Board of Directors of Adaptec, Inc. has approved a grant to you (the "Participant" named below) of
[            ] Restricted Stock Units ("RSUs") pursuant to the Adaptec, Inc. 2004 Equity
Incentive Plan (the "Plan"), as described below. Capitalized terms not defined herein shall have the meaning ascribed to them in the Company's 2004
Equity Incentive Plan (the "Plan"). 

	Participant:	 	    

	

Number of RSUs:	
 	

    

	

Fair Market Value/RSU:	
 	

$            per RSU as of Date of Grant

	

Date of Grant:	
 	

    

	

First Vesting Date:	
 	

First anniversary of the Date of Grant

	

Expiration Date:	
 	

The date on which settlement of all RSUs granted hereunder occurs, with earlier expiration upon termination of Participant's status as a Service Provider.
	

Vesting Schedule:	
 	

The RSUs will vest as follows:
	

[Schedule 1]	
 	

 

	(a)
	None
of the RSUs shall vest prior to the First Vesting Date; and

	(b)
	100%
of the RSUs shall vest on the First Vesting Date, subject to your having been in continuous status as a Service Provider from the Date of Grant to the First Vesting Date. 

[OTHER VESTING SCHEDULE AS APPROVED FROM TIME TO TIME]

        1.     Settlement. Settlement of vested RSUs shall occur
on vesting. Settlement of vested RSUs shall be in Shares. The Participant shall pay to the Company the aggregate par value of the Shares issued prior to their issuance (par value being $0.001 per
Share).    Participant hereby agrees that the Company may satisfy Participant's obligation to pay to the Company each Share's par value by making appropriate payroll deductions from funds
due the Participant. 

        2.     No Stockholder Rights. Unless and until such time
as Shares are issued in settlement of vested RSUs, the Participant shall have no ownership of the Shares allocated to the RSUs and shall have no right to vote such Shares, subject to the terms,
conditions and restrictions described in the Plan and herein. 

        3.     No Transfer. The RSUs and any interest therein:
(i) shall not be sold, assigned, transferred, pledged, hypothecated, or otherwise disposed of, and (ii) shall, if the Participant's continuous employment with the Company or any of its
affiliates shall terminate for any reason (except as otherwise provided in the Plan or herein), be forfeited to the Company forthwith, and all the rights of the Participant to such RSUs shall
immediately terminate. 

        4.     Termination of Status as a Service Provider. If
Participant's status as a Service Provider terminates, then the Administrator shall settle, in Shares, the value of any vested RSUs (based on the 

then
Fair Market Value of Shares deemed allocated to such vested RSUs on the date of such termination of status as a Service Provider) as soon as practicable thereafter. In case of any dispute as to
whether Participant's status as a Service Provider has terminated, the Administrator shall have sole discretion to determine whether Participant's status as a Service Provider has terminated and the
effective date of such termination (the "Termination Date"). 

        5.     Acknowledgement. By their signatures below, the Company and the
Participant agree that the RSUs are granted under and governed by this Restricted Stock Unit Agreement and by the provisions of the Plan (incorporated herein by reference). The Participant:
(i) acknowledges receipt of a copy of the Plan and the Plan prospectus, (ii) represents that the Participant has carefully read and is familiar with their provisions, and
(iii) hereby accepts the RSUs subject to all of the terms and conditions set forth herein and those set forth in the Plan. 

        6.     Tax Consequences. The Participant acknowledges that there may be adverse
tax consequences upon settlement of the RSUs or disposition of the Shares, if any, received in connection therewith and that Participant should consult a tax adviser prior to such settlement or
disposition. In particular, Participant must make arrangements, satisfactory to the Company, for satisfaction of any applicable foreign, federal, state or local income tax withholding requirements or
social security requirements related to the grant of the RSUs or Participant's receipt of Shares in settlement thereof, including, in either case, any dividend paid in respect thereof. In the event
settlement of the RSUs is made in Shares, such arrangements may include, with the consent of the Administrator, an election by Participant (a "Withholding Election") to pay the minimum statutory
withholding tax obligation by the withholding of Shares from the total number of Shares deliverable to the Participant in accordance with rules and procedures established by the Administrator. The
Withholding Election must be made prior to the date on which the amount to be withheld is determined. All Withholding Elections are subject to the approval of the Administrator and must be made in
compliance with rules and procedures established by the Administrator. The Administrator may require, in its discretion, that some portion of vested Shares be retained by (or returned to) the Company
to satisfy such withholding requirements. In the absence of such arrangements Participant hereby authorizes the Administrator to withhold the required minimum amount from Participant's other sources
of compensation from the Company or any Affiliate. 

        7.     Compliance with Laws and Regulations. The issuance of Shares will be
subject to and conditioned upon compliance by the Company and Participant with all applicable state and federal laws and regulations and with all applicable requirements of any stock exchange or
automated quotation system on which the Company's Common Stock may be listed or quoted at the time of such issuance or transfer. 

        8.     Successors and Assigns. The Company may assign any of its rights under
this Agreement. This Agreement shall be binding upon and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer herein set forth, this Agreement
will be binding upon Participant and Participant's heirs, executors, administrators, legal representatives, successors and assigns. 

        9.     Governing Law; Severability. This Agreement shall be governed by and
construed in accordance with the internal laws of the State of California as such laws are applied to agreements between California residents entered into and to be performed entirely within
California, excluding that body of laws pertaining to conflict of laws. If any provision of this Agreement is determined by a court of law to be illegal or unenforceable, then such provision will be
enforced to the maximum extent possible and the other provisions will remain fully effective and enforceable. 

        10.   Notices. Any notice required to be given or delivered to the Company
shall be in writing and addressed to the Corporate Secretary of the Company at its principal corporate offices. Any notice required to be given or delivered to Participant shall be in writing and
addressed to Participant at the address indicated above or to such other address as Participant may designate in writing from time to time to the Company. All notices shall be deemed effectively given
upon personal delivery, (i) three (3) days after deposit in the United States mail by certified or registered mail (return receipt 

requested),
(ii) one (1) business day after its deposit with any return receipt express courier (prepaid), or (iii) one (1) business day after transmission by rapifax or
telecopier. 

        11.   Further Instruments. The parties agree to execute such further
instruments and to take such further action as may be reasonably necessary to carry out the purposes and intent of this Agreement. 

        12.   Headings. The captions and headings of this Agreement are included for
ease of reference only and are to be disregarded in interpreting or construing this Agreement. 

        13.   Entire Agreement. The Plan and this Stock Award Documentation for these
RSUs constitute the entire agreement and understanding of the parties with respect to the subject matter herein and supersede all prior understandings and agreements, whether oral or written, between
the parties hereto with respect to the specific subject matter hereof. 

        Please
sign your name in the space provided below on this Restricted Stock Unit Agreement and return an executed copy to: Stock Administrator c/o Adaptec, Inc., 691 South Milpitas
Boulevard, Milpitas, California, 95035. 

	ADAPTEC, INC.	 	PARTICIPANT
	

By:	
 	

          
	
 	

          
 Signature
	

Its:	
 	

    
	
 	

 

QuickLinks

Exhibit 10.04

ADAPTEC, INC. 2004 EQUITY INCENTIVE PLAN RESTRICTED STOCK UNIT AGREEMENT (Stock Award Documentation for RSUs)

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