Document:

EX-10.2

 Exhibit 10.2 

Steelberg Performance-Based Option 

VERITONE, INC. 

NOTICE OF GRANT OF STOCK OPTION 

Notice is hereby given of the following option grant (the “Option”) to purchase shares of the Common Stock of
Veritone, Inc. (the “Corporation”): 
 Optionee:
                                        

 Grant Date: May 11, 2017 

Vesting Commencement Date: May 11, 2017 

Exercise Price: $15.00 per share 

Number of Option Shares: 522,409 shares of Common Stock 

Expiration Date: May 10, 2017 

Type of Option:  ☐ Incentive Stock Option 

                        
    ☒ Non-Statutory Stock Option 
 Exercise Schedule: The Option shall vest and become exercisable for the
Option Shares upon the date (the “Vesting Date”) that is the earlier of (i) the date the market capitalization of the Corporation, based on the closing price per share of capital stock of the Corporation’s Common
Stock as reported on the Corporation’s primary stock exchange/market on such date multiplied by the number of shares of capital stock of the Corporation outstanding, equals or exceeds Four Hundred Million Dollars ($400,000,000.00) for at least
five consecutive trading days, or (ii) the fifth anniversary of the closing of the initial public offering of the Corporation’s Common Stock, provided Optionee is in Service through the Vesting Date. The Option shall vest and become
exercisable on an accelerated basis in accordance with Paragraph 5 and Paragraph 7 of the Stock Option Agreement attached hereto as Exhibit A. The Option shall not become exercisable for any additional Option Shares following Optionee’s
cessation of Service, except to the extent (if any) specifically authorized by the Plan Administrator in its sole discretion pursuant to an express written agreement with Optionee. 

Optionee understands and agrees that the Option is granted subject to and in accordance with the terms of the Veritone, Inc. 2014 Stock
Option/Stock Issuance Plan (the “Plan”). Optionee further agrees to be bound by the terms of the Plan and the terms of the Option as set forth in the Stock Option Agreement attached hereto as Exhibit A. Optionee
understands that any Option Shares purchased under the Option will be subject to the terms set forth in the Stock Purchase Agreement attached hereto as Exhibit B. Optionee hereby acknowledges receipt of a copy of the prospectus for the Plan dated
May 11, 2017. A copy of the Plan is available upon request made to the Corporate Secretary at the Corporation’s principal offices. 

MARKET STAND-OFF PROVISION. OPTIONEE HEREBY AGREES THAT ALL OPTION SHARES ACQUIRED UPON THE EXERCISE OF THE OPTION SHALL BE SUBJECT
TO A MARKET STAND-OFF RESTRICTION, THE TERMS OF SUCH RIGHTS ARE SPECIFIED IN THE ATTACHED STOCK PURCHASE AGREEMENT. 
 At Will
Employment. Nothing in this Notice or in the attached Stock Option Agreement or Plan shall confer upon Optionee any right to continue in Service for any period of specific duration or interfere with or otherwise restrict in any way the rights of
the Corporation (or any Parent or Subsidiary employing or retaining Optionee) or of Optionee, which rights are hereby expressly reserved by each, to terminate Optionee’s Service at any time for any reason, with or without cause. 

 Definitions. All capitalized terms in this Notice shall have the meaning assigned to them
in this Notice or in the attached Stock Option Agreement. 
 DATED: May 11, 2017 

 

			
	VERITONE, INC.
		
	By:	 	  

		 	Peter F. Collins,
		 	Chief Financial Officer

 
			
	
	  

	Name:	 	  

 
			
		
	Address:	 	  

	  

 Attachments: 

Exhibit A - Stock Option Agreement 

Exhibit B – Stock Purchase Agreement 
  

  
 - 2 - 

 Steelberg Performance-Based Option 

EXHIBIT A 

STOCK OPTION AGREEMENT  

(attached hereto) 

 Steelberg Performance-Based Option 

VERITONE, INC. 

STOCK OPTION AGREEMENT 

RECITALS 
 A. The Board has adopted
the Plan for the purpose of retaining the services of selected Employees, non-employee members of the Board or the board of directors of any Parent or Subsidiary and consultants and other independent advisors in the service of the Corporation (or
any Parent or Subsidiary). 
 B. Optionee is to render valuable services to the Corporation (or a Parent or Subsidiary), and this Agreement
is executed pursuant to, and is intended to carry out the purposes of, the Plan in connection with the Corporation’s grant of an option to Optionee. 

C. All capitalized terms in this Agreement shall have the meaning assigned to them in the attached Appendix. 

NOW, THEREFORE, it is hereby agreed as follows: 

1. Grant of Option. The Corporation hereby grants to Optionee, as of the Grant Date, an option to purchase up to the number of
Option Shares specified in the Grant Notice. The Option Shares shall be purchasable from time to time during the option term specified in Paragraph 2 at the Exercise Price. 

2. Option Term. This option shall have a term of ten (10) years measured from the Grant Date and shall accordingly expire
at the close of business on the Expiration Date, unless sooner terminated in accordance with Paragraph 6 or 7. 
 3. Limited
Transferability. 
 (a) This option, together with the Option Shares during the period prior to exercise, shall be neither
transferable nor assignable by Optionee other than by will or the laws of inheritance following Optionee’s death and may be exercised, during Optionee’s lifetime, only by Optionee. However, Optionee may designate one or more Family Members
as the beneficiary or beneficiaries of this option, and this option shall, in accordance with such designation, automatically be transferred to such beneficiary or beneficiaries upon Optionee’s death while holding this option. Such beneficiary
or beneficiaries shall take the transferred option subject to all the terms and conditions of this Agreement, including (without limitation) the limited time period during which this option may, pursuant to Paragraph 6, be exercised following
Optionee’s death. 
 (b) If this option is designated a Non-Statutory Option in the Grant Notice, then this option, together with the
unexercised Option Shares, shall be subject to the same transfer restrictions as set forth in Paragraph 3(a), except that such option, together with the underlying unexercised Option Shares, may be assigned in whole or in part during
Optionee’s lifetime by gift or pursuant to a domestic relations order to one or more of Optionee’s Family Members or to a trust established for the exclusive benefit of Optionee and/or one or more such Family Members. The assigned portion
shall be exercisable only by the person or persons who acquire a proprietary interest in the option pursuant to such assignment. The terms applicable to the assigned portion shall be the same as those in effect for this option immediately prior to
such assignment. 
 4. Dates of Exercise. This option shall become exercisable for the Option Shares in one or more
installments as specified in the Grant Notice. As the option becomes exercisable for such installments, those installments shall accumulate, and the option shall remain exercisable for the accumulated installments until the Expiration Date or sooner
termination of the option term under Paragraph 6 or 7. 
 5. Accelerated Vesting. This option shall vest and become
exercisable with respect to 100% of the Option Shares upon termination of Optionee’s Service by the Corporation other than for the Cause. In the event of Optionee’s cessation of Service as a result of Optionee’s resignation for Good
Reason, this option shall vest and become exercisable with respect to fifty percent (50%) of the Option Shares for which the option is not vested and exercisable at the time of such cessation of Service. 

 6. Cessation of Service. The option term specified in Paragraph 2 shall
terminate (and this option shall cease to be outstanding) prior to the Expiration Date should any of the following provisions become applicable: 

(a) Should Optionee cease to remain in Service for any reason (other than death, Disability or Misconduct) while this option is outstanding,
then Optionee (or any person or persons to whom this option is transferred pursuant to a permitted transfer under Paragraph 3) shall have a period of three (3) months (commencing with the date of such cessation of Service) during which to
exercise this option, but in no event shall this option be exercisable at any time after the Expiration Date. 
 (b) Should Optionee die
while this option is outstanding, then the personal representative of Optionee’s estate or the person or persons to whom the option is transferred pursuant to Optionee’s will or the laws of inheritance following Optionee’s death or,
if applicable, the person to whom the option is transferred during Optionee’s lifetime pursuant to a permitted transfer under Paragraph 3 shall have the right to exercise this option. However, if Optionee dies while holding this option and
has an effective beneficiary designation in effect for this option at the time of his or her death, then the designated beneficiary or beneficiaries shall have the exclusive right to exercise this option following Optionee’s death. Any such
right to exercise this option shall lapse, and this option shall cease to be outstanding, upon the earlier of (i) the expiration of the twelve (12)-month period measured from the date of Optionee’s death or (ii) the Expiration Date.

 (c) Should Optionee cease Service by reason of Disability while this option is outstanding, then Optionee (or any person or persons to
whom this option is transferred pursuant to a permitted transfer under Paragraph 3) shall have a period of twelve (12) months (commencing with the date of such cessation of Service) during which to exercise this option. In no event shall
this option be exercisable at any time after the Expiration Date. 
 Note: Exercise of this option on a date
later than three (3) months following cessation of Service due to Disability will result in loss of favorable Incentive Option treatment, unless such Disability constitutes Permanent Disability. In the event that Incentive Option treatment is
not available, this option will be taxed as a Non-Statutory Option upon exercise. 
 (d) During the limited period of post-Service
exercisability, this option may not be exercised in the aggregate for more than the number of Option Shares in which Optionee is, at the time of Optionee’s cessation of Service, vested and exercisable pursuant to the Exercise Schedule specified
in the Grant Notice or the special vesting acceleration provisions of Paragraph 5 and Paragraph 7. No additional Option Shares shall vest and become exercisable, whether pursuant to the normal Exercise Schedule specified in the Grant Notice or
the special vesting acceleration provisions of Paragraph 5 and Paragraph 7, following Optionee’s cessation of Service, except to the extent (if any) specifically authorized by the Plan Administrator pursuant to an express written agreement
with Optionee. Upon the expiration of such limited exercise period or (if earlier) upon the Expiration Date, this option shall terminate and cease to be outstanding for any Option Shares for which the option has not been exercised. 

(e) Should Optionee’s Service be terminated for Cause or should Optionee otherwise engage in conduct constituting Cause while this
option is outstanding, then this option shall terminate immediately and cease to remain outstanding. 
 7. Change in Control.

 (a) Should a Change in Control occur during Optionee’s period of Service, then the Option Shares at the time subject to this option,
as determined by the Plan Administrator in its sole discretion, may be (i) assumed by the successor corporation (or parent thereof) or otherwise continued in full force and effect pursuant to the terms of the Change in Control transaction or
(ii) replaced with a cash retention program of the successor corporation which preserves the spread existing on the unvested Option Shares at the time of the Change in Control (the excess of the Fair Market Value of those Option Shares over the
Exercise Price payable for such shares) and 

  
 2 

 
provides for subsequent payout of that spread in accordance with the same Exercise Schedule applicable to those unvested Option Shares as set forth in the Grant Notice. Notwithstanding the
foregoing, no such cash retention program shall be established for this option (or any other option granted to Optionee under the Plan) to the extent such program would otherwise be deemed to constitute a deferred compensation arrangement subject to
the requirements of Code Section 409A and the Treasury Regulations thereunder. Any escrow, holdback, earn-out or similar provisions in the agreement effecting the Change in Control may apply to a cash retention program described in clause
(ii) above to the same extent and in the same manner as such provisions apply to a holder of a share of Common Stock, as determined by the Plan Administrator. 

(b) If this option is not assumed, continued or replaced in accordance with Paragraph 7(a) or is otherwise cancelled in connection with the
Change in Control, then provided that the aggregate entity value of the Corporation in the Change in Control is equal to or greater than Four Hundred Million Dollars ($400,000,000.00), this option shall, immediately prior to the effective date of
the Change in Control, become vested and exercisable with respect to all the shares of Common Stock at the time subject to this option, and may be exercised for any or all of those shares as fully-vested shares of Common Stock. If this option, as so
accelerated, remains outstanding at the time of a Change in Control, Optionee shall be entitled to receive, upon consummation of the Change in Control, a cash payment in an amount equal to the spread existing on the Option Shares that are vested and
exercisable at the time of the Change in Control (the excess of the Fair Market Value of those shares over the aggregate exercise price payable for such shares), if any. However, the option shall be subject to cancellation and termination, without
cash payment or other consideration due the award holder for any Option Shares in which Optionee is not then vested and exercisable pursuant to the Exercise Schedule specified in the Grant Notice or the special vesting acceleration provisions of
Paragraph 5 and this Paragraph 7(b). The option shall also be subject to cancellation and termination in its entirety, without cash payment or other consideration due the award holder, if the Fair Market Value per share of Common Stock on the date
of such Change in Control is less than the per share exercise price in effect for such option. Any escrow, holdback, earn-out or similar provisions in the agreement effecting the Change in Control shall apply to any such cash payment to the same
extent and in the same manner as such provisions apply to a holder of a share of Common Stock. 
 (c) Immediately following the Change in
Control, this option shall terminate and cease to be outstanding, except to the extent assumed by the successor corporation (or parent thereof) or otherwise continued in full force and effect pursuant to the terms of the Change in Control
transaction. 
 (d) If this option is assumed in connection with a Change in Control or otherwise continued in effect, then this option
shall be appropriately adjusted, immediately after such Change in Control, to apply to the number and class of securities which would have been issuable to Optionee in consummation of such Change in Control had the option been exercised immediately
prior to such Change in Control, and appropriate adjustments shall also be made to the Exercise Price, provided the aggregate Exercise Price shall remain the same. To the extent that the actual holders of the Corporation’s outstanding Common
Stock receive cash consideration for their Common Stock in consummation of the Change in Control, the Plan Administrator may, in its sole discretion, provide in the document evidencing the Change in Control that the successor corporation (or parent
thereof) shall, in connection with the assumption or continuation of this option, substitute one or more shares of its own common stock with a fair market value equivalent to the cash consideration paid per share of Common Stock in such Change in
Control. 
 (e) This Agreement shall not in any way affect the right of the Corporation to adjust, reclassify, reorganize or otherwise
change its capital or business structure or to merge, consolidate, dissolve, liquidate or sell or transfer all or any part of its business or assets. 

8. Adjustment in Option Shares. In the event of any of the following transactions affecting the outstanding Common Stock as a
class without the Corporation’s receipt of consideration: any stock split, stock dividend, spin-off transaction, extraordinary distribution (whether in cash, securities or other property), recapitalization, combination of shares, exchange of
shares or other similar transaction affecting the Common Stock without the Corporation’s receipt of consideration or in the event of a substantial reduction to the value of the outstanding shares of Common Stock as a result of a spin-off
transaction or extraordinary distribution, then equitable adjustments shall be made to (i) the total number and/or class of securities subject to this option and (ii) the Exercise Price. The adjustments shall be made by the Plan
Administrator in such manner as the Plan Administrator deems appropriate in order to reflect such change, and those adjustments shall be final, binding and conclusive. 

  
 3 

 9. Stockholder Rights. The holder of this option shall not have any stockholder
rights with respect to the Option Shares until such person shall have exercised the option, paid the Exercise Price and become the record holder of the purchased shares. 

10. Manner of Exercising Option. 

(a) In order to exercise this option with respect to all or any part of the Option Shares for which this option is at the time exercisable,
Optionee (or any other person or persons exercising the option) must take the following actions: 
 (i) Execute and deliver to the
Corporation a Stock Purchase Agreement for any option exercised on or before May 11, 2019, or after that date, a Notice of Exercise, or comply with such procedure as the Corporation may establish from time to time for notifying the Corporation
of the exercise of this option, for the Option Shares for which the option is exercised. 
 (ii) Pay the aggregate Exercise Price for the
purchased shares in one or more of the following forms: 
 (A) cash or check made payable to the Corporation; or 

(B) in shares of Common Stock valued at Fair Market Value on the Exercise Date and held by Optionee (or any other person or persons
exercising the option) for the period (if any) necessary to avoid a charge to the Corporation’s earnings for financial reporting purposes; or 

(C) through a special sale and remittance procedure pursuant to which Optionee (or any other person or persons exercising the option) shall
concurrently provide irrevocable instructions (a) to a brokerage firm (reasonably satisfactory to the Corporation for purposes of administering such procedure in compliance with any applicable pre-clearance or pre-notification requirements) to
effect the immediate sale of the purchased shares and remit to the Corporation, out of the sale proceeds available on the settlement date, sufficient funds to cover the aggregate Exercise Price payable for the purchased shares plus all applicable
income and employment taxes required to be withheld by the Corporation by reason of such exercise and (b) to the Corporation to deliver the certificates for the purchased shares directly to such brokerage firm on such settlement date in order
to complete the sale. 
 Except to the extent the sale and remittance procedure is utilized in connection with the option exercise, payment
of the Exercise Price must accompany the Stock Purchase Agreement or the Notice of Exercise delivered to the Corporation in connection with the option exercise. 

(iii) Furnish to the Corporation appropriate documentation that the person or persons exercising the option (if other than Optionee) have the
right to exercise this option. 
 (iv) Execute and deliver to the Corporation such written representations as may be requested by the
Corporation in order for it to comply with the applicable requirements of applicable securities laws. 
 (v) Make appropriate arrangements
with the Corporation (or Parent or Subsidiary employing or retaining Optionee) for the satisfaction of all applicable income and employment tax withholding requirements applicable to the option exercise. 

(b) As soon as practical after the Exercise Date, the Corporation shall issue to or on behalf of Optionee (or any other person or persons
exercising this option) a certificate for the purchased Option Shares, with the appropriate legends affixed thereto. 

  
 4 

 (c) In no event may this option be exercised for any fractional shares. 

11. Compliance with Laws and Regulations. 

(a) The exercise of this option and the issuance of the Option Shares upon such exercise shall be subject to compliance by the Corporation and
Optionee with all applicable requirements of law relating thereto and with all applicable regulations of any stock exchange on which the Common Stock may be listed for trading at the time of such exercise and issuance. 

(b) The inability of the Corporation to obtain approval from any regulatory body having authority deemed by the Corporation to be necessary
to the lawful issuance and sale of any Common Stock pursuant to this option shall relieve the Corporation of any liability with respect to the non-issuance or sale of the Common Stock as to which such approval shall not have been obtained. The
Corporation, however, shall use its best efforts to obtain all such approvals. 
 12. Successors and Assigns. Except to the
extent otherwise provided in Paragraphs 3 and 7, the provisions of this Agreement shall inure to the benefit of, and be binding upon, the Corporation and its successors and assigns and Optionee, Optionee’s assigns and the legal
representatives, heirs and legatees of Optionee’s estate. 
 13. Notices. Any notice required to be given or delivered to
the Corporation under the terms of this Agreement shall be in writing and addressed to the Corporation at its principal corporate offices. Any notice required to be given or delivered to Optionee shall be in writing and addressed to Optionee at the
address indicated below Optionee’s signature line on the Grant Notice. All notices shall be deemed effective upon personal delivery or upon deposit in the U.S. mail, postage prepaid and properly addressed to the party to be notified. 

14. Construction. This Agreement and the option evidenced hereby are made and granted pursuant to the Plan and are in all
respects limited by and subject to the terms of the Plan. All decisions of the Plan Administrator with respect to any question or issue arising under the Plan or this Agreement shall be conclusive and binding on all persons having an interest in
this option. 
 15. Governing Law. The interpretation, performance and enforcement of this Agreement shall be governed by the
laws of the State of Delaware without resort to that state’s conflict-of-laws rules. 
 16. Stockholder Approval. If the
Option Shares covered by this Agreement exceed, as of the Grant Date, the number of shares of Common Stock which may be issued under the Plan as last approved by the stockholders, then this option shall be void with respect to such excess shares,
unless stockholder approval of an amendment sufficiently increasing the number of shares of Common Stock issuable under the Plan is obtained in accordance with the provisions of the Plan. 

17. Additional Terms Applicable to an Incentive Option. In the event this option is designated an Incentive Option in the Grant
Notice, the following terms and conditions shall also apply to the grant: 
 (a) This option shall cease to qualify for favorable tax
treatment as an Incentive Option if (and to the extent) this option is exercised for one or more Option Shares: (i) more than three (3) months after the date Optionee ceases to be an Employee for any reason other than death or Permanent
Disability or (ii) more than twelve (12) months after the date Optionee ceases to be an Employee by reason of Permanent Disability. 

(b) This option shall not become exercisable in the calendar year in which granted if (and to the extent) the aggregate Fair Market Value
(determined at the Grant Date) of the Common Stock for which this option would otherwise first become exercisable in such calendar year would, when added to the aggregate value (determined as of the respective date or dates of grant) of the Common
Stock and any other securities for which one or more other Incentive Options granted to Optionee prior to the Grant Date (whether under the Plan or any other option plan of the Corporation or any Parent or Subsidiary) first become exercisable during
the same calendar year, exceed One Hundred Thousand Dollars ($100,000) in the aggregate. To the extent the exercisability of this option is deferred by reason of the foregoing limitation, the deferred portion shall become exercisable in the first
calendar 

  
 5 

 
year or years thereafter in which the One Hundred Thousand Dollar ($100,000) limitation of this Paragraph 17(b) would not be contravened, but such deferral shall in all events end
immediately prior to the effective date of a Change in Control in which this option is not to be assumed or otherwise continued in effect, whereupon the option shall become immediately exercisable as a Non-Statutory Option for the deferred portion
of the Option Shares. 
 (c) Should Optionee hold, in addition to this option, one or more other options to purchase Common Stock which
become exercisable for the first time in the same calendar year as this option, then for purposes of the foregoing limitations on the exercisability of such options as Incentive Options, this option and each of those other options shall be deemed to
become first exercisable in that calendar year on the basis of the chronological order in which they were granted, except to the extent otherwise provided under applicable law or regulation. 

 

  
 6 

 Steelberg Performance-Based Option 

APPENDIX 
 The following
definitions shall be in effect under the Agreement: 
 A. Agreement shall mean this Stock Option Agreement. 

B. Board shall mean the Corporation’s Board of Directors. 

C. Cause shall have the meaning assigned to such term in the Employment Agreement. The foregoing definition shall not in any way
preclude or restrict the right of the Corporation (or any Parent or Subsidiary) to discharge or dismiss Optionee or any other person in the Service of the Corporation (or any Parent or Subsidiary) for any other acts or omissions, but such other acts
or omissions shall not be deemed, for purposes of the Plan or this Agreement, to constitute grounds for termination for Cause. 
 D.
Change in Control shall mean a change in ownership or control of the Corporation effected through any of the following transactions: 

(i) a merger, consolidation or other reorganization approved by the Corporation’s stockholders, unless securities representing
more than fifty percent (50%) of the total combined voting power of the voting securities of the successor corporation are immediately thereafter beneficially owned, directly or indirectly and in substantially the same proportion, by the
persons who beneficially owned the Corporation’s outstanding voting securities immediately prior to such transaction, or 
 (ii) a
stockholder-approved sale, transfer or other disposition of all or substantially all of the Corporation’s assets in liquidation or dissolution of the Corporation, or 

(iii) the acquisition, directly or indirectly by any person or related group of persons (other than the Corporation or a person that directly
or indirectly controls, is controlled by, or is under common control with, the Corporation), of beneficial ownership (within the meaning of Rule 13d-3 of the 1934 Act) of securities possessing more than fifty percent (50%) of the total
combined voting power of the Corporation’s outstanding securities pursuant to a tender or exchange offer made directly to the Corporation’s stockholders. 

In no event shall any public offering of the Corporation’s securities be deemed to constitute a Change in Control. 

E. Code shall mean the Internal Revenue Code of 1986, as amended. 

F. Common Stock shall mean the Corporation’s common stock. 

G. Corporation shall mean Veritone, Inc., a Delaware corporation, and any successor corporation to all or substantially all of
the assets or voting stock of Veritone, Inc. which shall by appropriate action assume this option. 
 H. Disability shall mean
the inability of Optionee to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment and shall be determined by the Plan Administrator on the basis of such medical evidence as the Plan
Administrator deems warranted under the circumstances. Disability shall be deemed to constitute Permanent Disability in the event that such Disability is expected to result in death or has lasted or can be expected to last for a continuous
period of twelve (12) months or more. 
 I. Employee shall mean an individual who is in the employ of the Corporation (or
any Parent or Subsidiary), subject to the control and direction of the employer entity as to both the work to be performed and the manner and method of performance. 

  
 A-1 

 J. Employment Agreement shall mean the Employment Agreement between the Corporation
and Optionee effective as of March 14, 2017. 
 K. Exercise Date shall mean the date on which the option shall have been
exercised in accordance with Paragraph 10 of the Agreement. 
 L. Exercise Price shall mean the exercise price payable
per Option Share as specified in the Grant Notice. 
 M. Exercise Schedule shall mean the Exercise Schedule specified in the
Grant Notice pursuant to which Optionee is to vest in the Option Shares in a series of installments over his or her period of Service. 
 N.
Expiration Date shall mean the date on which the option expires as specified in the Grant Notice. 
 O. Fair Market
Value per share of Common Stock on any relevant date shall be determined in accordance with the following provisions: 
 (i) If the
Common Stock is at the time traded on the Nasdaq Global or Global Select Market, then the Fair Market Value shall be the closing selling price per share of Common Stock on the date in question, as the price is reported by the National Association of
Securities Dealers for that particular Stock Exchange and published in The Wall Street Journal. If there is no closing selling price for the Common Stock on the date in question, then the Fair Market Value shall be the closing selling price
on the last preceding date for which such quotation exists. 
 (ii) If the Common Stock is at the time listed on any other Stock Exchange,
then the Fair Market Value shall be the closing selling price per share of Common Stock on the date in question on the Stock Exchange determined by the Plan Administrator to be the primary market for the Common Stock, as such price is officially
quoted in the composite tape of transactions on such exchange and published in The Wall Street Journal. If there is no closing selling price for the Common Stock on the date in question, then the Fair Market Value shall be the closing selling
price on the last preceding date for which such quotation exists. 
 (iii) If the Common Stock is not at the time listed on any Stock
Exchange, then the Fair Market Value shall be determined by the Plan Administrator through the reasonable application of a reasonable valuation method that takes into account the applicable valuation factors set forth in the Treasury Regulations
issued under Section 409A of the Code; provided, however, that if the option is designated as an Incentive Option in the Grant Notice, then such Fair Market Value shall be determined in accordance with the standards of Section 422 and the
applicable Treasury Regulations thereunder. 
 P. Family Member shall mean any of the following members of Optionee’s
family: any child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law or sister-in-law. 

Q. Good Reason shall have the meaning assigned to such term in the Employment Agreement. 

R. Grant Date shall mean the date of grant of the option as specified in the Grant Notice. 

S. Grant Notice shall mean the Notice of Grant of Stock Option accompanying the Agreement, pursuant to which Optionee has been
informed of the basic terms of the option evidenced hereby. 
 T. Incentive Option shall mean an option which satisfies the
requirements of Code Section 422. 
 U. 1934 Act shall mean the Securities Exchange Act of 1934, as amended. 

V. Non-Statutory Option shall mean an option not intended to satisfy the requirements of Code Section 422. 

  
 A-2 

 W. Notice of Exercise shall mean the notice of exercise in such form as provided by
the Corporation. 
 X. Option Shares shall mean the number of shares of Common Stock subject to the option. 

Y. Optionee shall mean the person to whom the option is granted as specified in the Grant Notice. 

Z. Parent shall mean any corporation (other than the Corporation) in an unbroken chain of corporations ending with the
Corporation, provided each corporation in the unbroken chain (other than the Corporation) owns, at the time of the determination, 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. 
 AA. Plan shall mean the Corporation’s 2014 Stock Option/Stock Issuance Plan.

 BB. Plan Administrator shall mean either the Board or a committee of the Board acting in its capacity as administrator of
the Plan. 
 CC. Service shall mean Optionee’s performance of services for the Corporation (or any Parent or Subsidiary,
whether now existing or subsequently established) in the capacity of an Employee, a non-employee member of the board of directors or a consultant or independent advisor. For purposes of this Agreement, Optionee shall be deemed to cease Service
immediately upon the occurrence of either of the following events: (i) Optionee no longer performs services in any of the foregoing capacities for the Corporation or any Parent or Subsidiary or (ii) the entity for which Optionee is
performing such services ceases to remain a Parent or Subsidiary of the Corporation, even though Optionee may subsequently continue to perform active services for that entity. Service shall not be deemed to cease during a period of military leave,
sick leave or other personal leave approved by the Corporation; provided, however, that should such leave of absence exceed three (3) months, then for purposes of determining the period within which the Option (if designated as an Incentive
Option in the Grant Notice) may be exercised as such an Incentive Option under the federal tax laws, Optionee’s Service shall be deemed to cease on the first day immediately following the expiration of such three (3)-month period, unless
Optionee is provided with the right to return to Service following such leave either by statute or by written contract. Except to the extent otherwise required by law or expressly authorized by the Plan Administrator or by the Corporation’s
written policy on leaves of absence, no Service credit shall be given for vesting purposes for any period Optionee is on a leave of absence. 

DD. Stock Exchange shall mean the American Stock Exchange, the Nasdaq Global or Global Select Market or the New York Stock
Exchange. 
 EE. Stock Purchase Agreement shall mean the stock purchase agreement in substantially the form of Exhibit B to
the Grant Notice. 
 FF. Subsidiary shall mean any corporation (other than the Corporation) in an unbroken chain of
corporations beginning with the Corporation, provided each corporation (other than the last corporation) in the unbroken chain owns, at the time of the determination, 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. 

  
 A-3 

 Steelberg Performance-Based Option 

EXHIBIT B 

FORM OF STOCK PURCHASE AGREEMENT 

(attached hereto) 

 INSTALLMENT 

VERITONE, INC.  

STOCK PURCHASE AGREEMENT 

AGREEMENT made this     day of             ,
20    by and between Veritone, Inc., a Delaware corporation, and                     , Optionee under the Corporation’s 2014
Stock Option/Stock Issuance Plan. 
 All capitalized terms in this Agreement shall have the meaning assigned to them in this Agreement or
in the attached Appendix. 
  

	 	A.	EXERCISE OF OPTION 

 1. Exercise. Optionee hereby purchases
                shares of Common Stock (the “Purchased Shares”) pursuant to that certain option (the “Option”) granted to
Optionee on                     ,             (the “Grant Date”)
to purchase up to                 shares of Common Stock (the “Option Shares”) under the Plan at the exercise price of
$            per share (the “Exercise Price”). 
 2.
Payment. Concurrently with the delivery of this Agreement to the Corporation, Optionee shall pay the Exercise Price for the Purchased Shares in accordance with the provisions of the Option Agreement and shall deliver whatever
additional documents may be required by the Option Agreement as a condition for exercise. 
 3. Stockholder Rights. Optionee
(or any successor in interest) shall have all the rights of a stockholder (including voting, dividend and liquidation rights) with respect to the Purchased Shares, subject, however, to the market stand-off provision set forth herein. 

 

	 	B.	TRANSFER RESTRICTIONS 

 1. Restriction on Transfer. Optionee shall
not transfer, assign, encumber or otherwise dispose of any of the Purchased Shares in contravention of the Market Stand-Off. 
 2.
Transferee Obligations. Each person (other than the Corporation) to whom the Purchased Shares are transferred by means of a Permitted Transfer must, as a condition precedent to the validity of such transfer, acknowledge in writing to
the Corporation that such person is bound by the provisions of this Agreement and that the transferred shares are subject to the Market Stand-Off to the same extent such shares would be so subject if retained by Optionee. 

3. Market Stand-Off. 

(a) In connection with any underwritten public offering by the Corporation of its equity securities pursuant to an effective registration
statement filed under the 1933 Act, including the Corporation’s initial public offering, Owner shall not sell, make any short sale of, loan, hypothecate, pledge, grant any option for the purchase of, or otherwise dispose or transfer for value
or otherwise agree to engage in any of the foregoing transactions with respect to, any Purchased Shares without the prior written consent of the Corporation or its underwriters. Such restriction (the “Market Stand-Off”) shall
be in effect for such period of time from and after the effective date of the final prospectus for the offering as may be requested by the Corporation or such underwriters. In no event, however, shall such period exceed the greater of: (a) one
hundred eighty (180) days, or (b) if required by such underwriter, such 

 
longer period of time as is necessary to enable the underwriter to issue a research report, analyst recommendation or opinion in accordance with the then-applicable rules and regulations of the
Financial Regulatory Authority, Inc. and the applicable stock exchange, but in no event in excess of two hundred ten (210) days following the effective date of the registration statement relating to such offering. The Market Stand-Off shall in
no event be applicable to any underwritten public offering effected after May 11, 2019 and all of the transfer restrictions and other obligations of Section B of this Agreement shall lapse at 5 pm Pacific time on May 11, 2019. 

(b) Owner shall be subject to the Market Stand-Off provided and only if the officers and directors of the Corporation are also subject to
similar restrictions. 
 (c) Any new, substituted or additional securities which are by reason of any Recapitalization or Reorganization
distributed with respect to the Purchased Shares shall be immediately subject to the Market Stand-Off, to the same extent the Purchased Shares are at such time covered by such provisions. 

(d) In order to enforce the Market Stand-Off, the Corporation may impose stop-transfer instructions with respect to the Purchased Shares
until the end of the applicable stand-off period. 
  

	 	C.	GENERAL PROVISIONS 

 1. At Will Employment. Nothing in this
Agreement or in the Plan shall confer upon Optionee any right to continue in employment or service for any period of specific duration or interfere with or otherwise restrict in any way the rights of the Corporation (or any Parent or Subsidiary
employing or retaining Optionee) or of Optionee, which rights are hereby expressly reserved by each, to terminate Optionee’s service or employment at any time for any reason, with or without cause. 

2. Notices. Any notice required to be given under this Agreement shall be in writing and shall be deemed effective upon
personal delivery or upon deposit in the U.S. mail, registered or certified, postage prepaid and properly addressed to the party entitled to such notice at the address indicated below such party’s signature line on this Agreement or at such
other address as such party may designate by ten (10) days advance written notice under this paragraph to all other parties to this Agreement. 
  

	 	D.	MISCELLANEOUS PROVISIONS 

 1. Optionee Undertaking. Optionee hereby
agrees to take whatever additional action and execute whatever additional documents the Corporation may deem necessary or advisable in order to carry out or effect one or more of the obligations or restrictions imposed on either Optionee or the
Purchased Shares pursuant to the provisions of this Agreement. 
 2. Agreement is Entire Contract. This Agreement constitutes
the entire contract between the parties hereto with regard to the subject matter hereof. This Agreement is made pursuant to the provisions of the Plan and shall in all respects be construed in conformity with the terms of the Plan. 

3. Governing Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware
without resort to that state’s conflict-of-laws rules. 

  
 2 

 4. Counterparts. This Agreement may be executed in counterparts, each of which
shall be deemed to be an original, but all of which together shall constitute one and the same instrument. 
 5. Successors and
Assigns. The provisions of this Agreement shall inure to the benefit of, and be binding upon, the Corporation and its successors and assigns and upon Optionee, Optionee’s permitted assigns and the legal representatives, heirs and
legatees of Optionee’s estate, whether or not any such person shall have become a party to this Agreement and have agreed in writing to join herein and be bound by the terms hereof. 

IN WITNESS WHEREOF, the parties have executed this Agreement on the day and year first indicated above. 

 

			
	VERITONE, INC.
		
	By:	 	 
	Name:	 	  

	Title:	 	  

	  

	OPTIONEE NAME:
		
	Address:	 	  

	  

  
 3 

 SPOUSAL ACKNOWLEDGMENT 

The undersigned spouse of Optionee has read and hereby approves the foregoing Stock Purchase Agreement. In consideration of the
Corporation’s granting Optionee the right to acquire the Purchased Shares in accordance with the terms of such Agreement, the undersigned hereby agrees to be irrevocably bound by all the terms of such Agreement. 

 

			
	  

	SPOUSE NAME:
		
	Address:	 	 
	
	  

 APPENDIX 

The following definitions shall be in effect under the Agreement: 

A. Agreement shall mean this Stock Purchase Agreement. 

B. Board shall mean the Corporation’s Board of Directors. 

C. Common Stock shall mean the Corporation’s common stock. 

D. Corporation shall mean Veritone, Inc., a Delaware corporation, and any successor corporation to all or substantially all of
the assets or voting stock of Veritone, Inc. which shall by appropriate action adopt the Plan. 
 E. Exercise Price shall
have the meaning assigned to such term in Paragraph A.1. 
 F. Family Member shall mean any of the following members of
the Optionee’s family: any child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law or sister-in-law. 

G. Market Stand-Off shall mean the market stand-off restriction specified in Paragraph B.3. 

H. 1933 Act shall mean the Securities Act of 1933, as amended. 

I. Option shall have the meaning assigned to such term in Paragraph A.1. 

J. Option Agreement shall mean all agreements and other documents evidencing the Option. 

K. Optionee shall mean the person to whom the Option is granted under the Plan. 

L. Owner shall mean Optionee and all subsequent holders of the Purchased Shares who derive their chain of ownership through a
Permitted Transfer from Optionee. 
 M. Parent shall mean any corporation (other than the Corporation) in an unbroken chain
of corporations ending with the Corporation, provided each corporation in the unbroken chain (other than the Corporation) owns, at the time of the determination, 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. 
 N. Permitted Transfer shall mean (i) a
gratuitous transfer of the Purchased Shares to one or more of the Optionee’s Family Members or to a trust established for Optionee or one or more such Family Members, provided and only if Optionee obtains the Corporation’s prior written
consent to such transfer, (ii) a transfer of title to the Purchased Shares effected pursuant to Optionee’s will or the laws of inheritance following Optionee’s death or (iii) a transfer to the Corporation in pledge as security
for any purchase-money indebtedness incurred by Optionee in connection with the acquisition of the Purchased Shares. 

  
 A-1 

 O. Plan shall mean the Corporation’s 2014 Stock Option/Stock Issuance Plan,
as amended. 
 P. Purchased Shares shall have the meaning assigned to such term in Paragraph A.1. 

Q. Recapitalization shall mean any of the following transactions affecting the Corporation’s outstanding Common Stock as a
class without the Corporation’s receipt of consideration: any stock split, stock dividend, spin-off transaction, extraordinary distribution (whether in cash, securities or other property), recapitalization, combination of shares, exchange of
shares or other similar transaction affecting the Common Stock without the Corporation’s receipt of consideration. 
 R.
Reorganization shall mean any of the following transactions: 
 (i) a merger or consolidation in which the
Corporation is not the surviving entity, 
 (ii) a sale, transfer or other disposition of all or substantially all of the
Corporation’s assets, 
 (iii) a reverse merger in which the Corporation is the surviving entity but in which the
Corporation’s outstanding voting securities are transferred in whole or in part to a person or persons different from the persons holding those securities immediately prior to the merger, or 

(iv) any transaction effected primarily to change the state in which the Corporation is incorporated or to create a holding
company structure. 
 S. SEC shall mean the Securities and Exchange Commission. 

T. Subsidiary shall mean any corporation (other than the Corporation) in an unbroken chain of corporations beginning with the
Corporation, provided each corporation (other than the last corporation) in the unbroken chain owns, at the time of the determination, 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. 

  
 A-2EX-10.3

 Exhibit 10.3 

2017 Stock Incentive Plan         

VERITONE, INC. 

NOTICE OF GRANT OF STOCK OPTION 

Notice is hereby given of the following option grant (the “Option”) to purchase shares of the Common Stock of
Veritone, Inc. (the “Corporation”): 
  

			
	Participant:	  	  

			
		
	Grant Date:	  	  

			
		
	Vesting Commencement Date:	  	  

			
		
	Exercise Price:	  	$                                     
                per share

			
		
	Number of Option Shares:	  	                                    
shares of Common Stock

			
		
	Expiration Date:	  	  

			
		
	Type of Option:	  	☐ Incentive Stock Option
		
		  	☐ Non-Statutory Stock Option

 Exercise Schedule: The Option shall vest and become exercisable with respect to (i) twenty-five
percent (25%) of the Option Shares upon the Participant’s completion of one (1) year of Service measured from the Vesting Commencement Date and (ii) the balance of the Option Shares in a series of thirty-six (36) successive
equal monthly installments upon the Participant’s completion of each additional month of Service over the thirty-six (36)-month period measured from the first anniversary of the Vesting Commencement Date. The Option shall not become exercisable
for any additional Option Shares following the Participant’s cessation of Service, except to the extent (if any) specifically authorized by the Plan Administrator in its sole discretion pursuant to an express written agreement with the
Participant. 
 The Participant understands and agrees that the Option is granted subject to and in accordance with the terms of the
Veritone, Inc. 2017 Stock Incentive Plan (the “Plan”). The Participant further agrees to be bound by the terms of the Plan and the terms of the Option as set forth in the Stock Option Agreement attached hereto as Exhibit
A. The Participant understands that any Option Shares purchased under the Option will be subject to the terms set forth in the Stock Purchase Agreement attached hereto as Exhibit B. Optionee hereby acknowledges receipt of a copy of the
prospectus for the Plan dated             , 2017. A copy of the Plan is available upon request made to the Corporate Secretary at the Corporation’s principal offices. 

MARKET STAND-OFF PROVISION. PARTICIPANT HEREBY AGREES THAT ALL OPTION SHARES ACQUIRED UPON THE EXERCISE OF THE OPTION SHALL BE
SUBJECT TO A MARKET STAND-OFF RESTRICTION, THE TERMS OF SUCH RIGHTS ARE SPECIFIED IN THE ATTACHED STOCK PURCHASE AGREEMENT. 

 At Will Employment. Nothing in this Notice or in the attached Stock Option Agreement or
the Plan shall confer upon the Participant any right to continue in Service for any period of specific duration or interfere with or otherwise restrict in any way the rights of the Corporation (or any Parent or Subsidiary employing or retaining the
Participant) or of the Participant, which rights are hereby expressly reserved by each, to terminate the Participant’s Service at any time for any reason, with or without cause. 

Definitions. All capitalized terms in this Notice shall have the meaning assigned to them in this Notice or in the attached Stock
Option Agreement. 
 DATED:             ,
         
  

			
	VERITONE, INC.

 
			
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 
			
	
	  

	PARTICIPANT NAME:

 
			
		
	Address:	 	  

 
			
	  

 Attachments: 

Exhibit A - Stock Option Agreement 
 Exhibit B - Stock
Purchase Agreement 

  
 2 

 EXHIBIT A 

STOCK OPTION AGREEMENT 

(attached hereto) 

 2017 Stock Incentive Plan 

VERITONE, INC. 

STOCK OPTION AGREEMENT 

RECITALS 
 A. The Board has adopted
the Plan for the purpose of retaining the services of selected Employees, non-employee members of the Board or the board of directors of any Parent or Subsidiary and consultants and other independent advisors in the service of the Corporation (or
any Parent or Subsidiary). 
 B. The Participant is to render valuable services to the Corporation (or a Parent or Subsidiary), and this
Agreement is executed pursuant to, and is intended to carry out the purposes of, the Plan in connection with the Corporation’s grant of an option to the Participant. 

C. All capitalized terms in this Agreement shall have the meaning assigned to them in Paragraph 18. 

NOW, THEREFORE, it is hereby agreed as follows: 

1. Grant of Option. The Corporation hereby grants to the Participant, as of the Grant Date, an option to purchase up to the
number of Option Shares specified in the Grant Notice. The Option Shares shall be purchasable from time to time during the option term specified in Paragraph 2 at the Exercise Price. 

2. Option Term. This option shall have a term of ten (10) years measured from the Grant Date and shall accordingly expire
at the close of business on the Expiration Date, unless sooner terminated in accordance with Paragraph 5 or 6. 
 3. Limited
Transferability. This option, together with the Option Shares during the period prior to exercise, shall be neither transferable nor assignable by the Participant other than by will or the laws of inheritance following the Participant’s
death and may be exercised, during the Participant’s lifetime, only by the Participant. 
 4. Dates of Exercise. This
option shall become exercisable for the Option Shares in one or more installments in accordance with the Exercise Schedule set forth in the Grant Notice. As the option becomes exercisable for such installments, those installments shall accumulate,
and the option shall remain exercisable for the accumulated installments until the Expiration Date or sooner termination of the option term under Paragraph 5 or 6. 

5. Cessation of Service. The option term specified in Paragraph 2 shall terminate (and this option shall cease to be
outstanding) prior to the Expiration Date should any of the following provisions become applicable: 
 (a) Should the Participant cease to
remain in Service for any reason (other than death, Permanent Disability or Misconduct) while this option is outstanding, then the Participant (or any person or persons to whom this option is transferred pursuant to a permitted

 
transfer under Paragraph 3) shall have a period of three (3) months (commencing with the date of such cessation of Service) during which to exercise this option, but in no event shall this
option be exercisable at any time after the Expiration Date. 
 (b) Should the Participant die while this option is outstanding, then the
personal representative of the Participant’s estate or the person or persons to whom the option is transferred pursuant to the Participant’s will or the laws of inheritance following the Participant’s death shall have the right to
exercise this option. Any such right to exercise this option shall lapse, and this option shall cease to be outstanding, upon the earlier of (i) the expiration of the twelve (12)-month period measured from the date of the Participant’s
death or (ii) the Expiration Date. 
 (c) Should the Participant cease Service by reason of Permanent Disability while this option is
outstanding, then the Participant shall have a period of twelve (12) months (commencing with the date of such cessation of Service) during which to exercise this option. In no event shall this option be exercisable at any time after the
Expiration Date. 
 (d) During the limited period of post-Service exercisability, this option may not be exercised in the aggregate for
more than the number of Option Shares for which this option is, at the time of the Participant’s cessation of Service, exercisable pursuant to the Exercise Schedule specified in the Grant Notice or the special vesting acceleration provisions of
Paragraph 6. This option shall not become exercisable for any additional Option Shares, whether pursuant to the normal Exercise Schedule specified in the Grant Notice or the special vesting acceleration provisions of Paragraph 6, following the
Participant’s cessation of Service, except to the extent (if any) specifically authorized by the Plan Administrator pursuant to an express written agreement with the Participant. Upon the expiration of such limited exercise period or (if
earlier) upon the Expiration Date, this option shall terminate and cease to be outstanding for any Option Shares for which the option has not been exercised. 

(e) Should the Participant’s Service be terminated for Misconduct or should the Participant otherwise engage in Misconduct while this
option is outstanding, then this option shall terminate immediately and cease to remain outstanding. 
 6. Change in Control.

 (a) Should a Change in Control occur during the Participant’s period of Service, then this option may, as determined by the Plan
Administrator in its sole discretion, be (i) assumed by the successor corporation (or parent thereof), (ii) canceled and substituted with an award granted by the successor corporation (or parent thereof), (iii) otherwise continued in
full force and effect pursuant to the terms of the Change in Control transaction or (iv) replaced with a cash retention program of the Corporation or any successor corporation (or parent thereof) which preserves the spread existing on the
Option Shares for which this option is not exercisable at the time of the Change in Control (the excess of the Fair Market Value of those shares over the aggregate Exercise Price payable for such shares) and provides for subsequent payout of that
spread in accordance with the same Exercise Schedule applicable to those Option Shares. Notwithstanding the foregoing, no such cash retention program shall be established for this option (or any other option granted to the Participant under the
Plan) to the extent such program would otherwise be deemed to constitute a deferred compensation arrangement subject to the requirements of Code Section 409A and the Treasury Regulations thereunder. 

  
 2 

 (b) To the extent this option is not assumed, substituted, continued or replaced in accordance
with Paragraph 6(a), this option shall automatically vest in full so that this option shall, immediately prior to the effective date of the Change in Control, become exercisable for all of the shares of Common Stock at the time subject to this
option and may be exercised for any or all of those shares as fully-vested shares of Common Stock, unless such accelerated vesting is otherwise precluded pursuant to the provisions of Paragraph 5(d) above. The Plan Administrator in its sole
discretion shall have the authority to provide that to the extent this option, as so accelerated, remains unexercised and outstanding on the effective date of the Change in Control, this option shall terminate and cease to be outstanding and in
consideration thereof the Participant shall become entitled to receive, upon consummation of the Change in Control and subject to Paragraph 6(c), a lump sum cash payment in an amount equal to the product of (i) number of shares of Common Stock
subject to this option and (ii) the excess of (A) the Fair Market Value per share of Common Stock on the date of the Change in Control over (B) the per share Exercise Price. However, this option shall be subject to cancellation and
termination, without cash payment or other consideration due the Participant, if the Fair Market Value per share of Common Stock on the date of such Change in Control is less than the per share Exercise Price. 

(c) The Plan Administrator shall have the authority to provide that any escrow, holdback, earn-out or similar provisions in the definitive
agreement effecting the Change in Control shall apply to any cash payment made under Paragraph 6(a) or Paragraph 6(b) above to the same extent and in the same manner as such provisions apply to a holder of a share of Common Stock. 

(d) Immediately following the consummation of the Change in Control, this option shall terminate and cease to be outstanding, except to the
extent assumed by the successor corporation (or parent thereof) or otherwise continued in full force and effect pursuant to the terms of the Change in Control transaction. 

(e) If this option is assumed in connection with a Change in Control or otherwise continued in effect, then this option shall be
appropriately adjusted, immediately after such Change in Control, to apply to the number and class of securities which would have been issuable to the Participant in consummation of such Change in Control, had the option been exercised immediately
prior to such Change in Control, and appropriate adjustments shall also be made to the Exercise Price, provided the aggregate Exercise Price shall remain the same. To the extent that the actual holders of the Corporation’s outstanding
Common Stock receive cash consideration for their Common Stock in consummation of the Change in Control, the successor corporation (or parent thereof) may in connection with the assumption or continuation of this option and subject to the Plan
Administrator’s approval, substitute one or more shares of its own common stock with a fair market value equivalent to the cash consideration paid per share of Common Stock in such Change in Control, provided such common stock is readily traded
on an established U.S. securities market. 

  
 3 

 (f) This Agreement shall not in any way affect the right of the Corporation to adjust,
reclassify, reorganize or otherwise change its capital or business structure or to merge, consolidate, dissolve, liquidate or sell or transfer all or any part of its business or assets. 

7. Adjustment to Option Shares. Should any change be made to the outstanding Common Stock by reason of any stock split, stock
dividend, recapitalization, combination of shares, exchange of shares, spin-off transaction or other change affecting the outstanding Common Stock as a class without the Corporation’s receipt of consideration, or should the value of outstanding
shares of Common Stock be substantially reduced as a result of a spin-off transaction or an extraordinary dividend or distribution, or should there occur any merger, consolidation, reincorporation or other reorganization, then equitable adjustments
shall be made to (i) the total number and/or class of securities subject to this option and (ii) the Exercise Price. The adjustments shall be made by the Plan Administrator in such manner as the Plan Administrator deems appropriate in
order to reflect such change, and those adjustments shall be final, binding and conclusive. 
 8. Stockholder Rights. The
holder of this option shall not have any stockholder rights with respect to the Option Shares until such person shall have exercised the option, paid the Exercise Price and become the record holder of the purchased shares. 

9. Manner of Exercising Option. 

(a) In order to exercise this option with respect to all or any part of the Option Shares, the Participant (or any other person or persons
exercising the option) must take the following actions: 
 (i) Execute and deliver to the Corporation a Stock Purchase Agreement for any
option exercised on or before May 11, 2019, or after that date, a Notice of Exercise, or comply with such procedures as the Corporation may establish from time to time for notifying the Corporation of the exercise of the option, for the Option
Shares for which the option is exercised. 
 (ii) Pay the aggregate Exercise Price for the purchased shares in one or more of the following
forms: 
 (A) cash or check made payable to the Corporation; 

(B) in shares of Common Stock valued at Fair Market Value on the Exercise Date and held for the period (if any) necessary to avoid a charge
to the Corporation’s earnings for financial reporting purposes; or 
 (C) through a special sale and remittance procedure pursuant to
which the Participant shall concurrently provide instructions (I) to a brokerage firm (with such brokerage firm reasonably satisfactory to the Corporation for purposes of administering such procedure in compliance with the Corporation’s
pre-clearance or pre-notification policies) to effect the immediate sale of the purchased shares and remit to the Corporation, out of the sale proceeds available on the settlement date, sufficient funds to cover

  
 4 

 
the aggregate Exercise Price payable for the purchased shares plus all applicable income and employment taxes required to be withheld by the Corporation by reason of such exercise and (II) to the
Corporation to deliver the certificates for the purchased shares directly to such brokerage firm on the settlement date in order to complete the sale. 

Except to the extent the sale and remittance procedure is utilized in connection with the option exercise, payment of the Exercise Price must
accompany the Stock Purchase Agreement or the Notice of Exercise delivered to the Corporation in connection with the option exercise. 

(iii) Furnish to the Corporation appropriate documentation that the person or persons exercising the option (if other than the Participant)
have the right to exercise this option. 
 (iv) Make appropriate arrangements with the Corporation (or Parent or Subsidiary employing or
retaining the Participant) for the satisfaction of all applicable tax withholding requirements applicable to the option exercise. 
 (v) As
soon as practical after the Exercise Date, the Corporation shall issue to or on behalf of the Participant (or any other person or persons exercising this option) a certificate for the purchased Option Shares, with the appropriate legends affixed
thereto. 
 (b) In no event may this option be exercised for any fractional shares. 

10. Compliance with Laws and Regulations. 

(a) The exercise of this option and the issuance of the Option Shares upon such exercise shall be subject to compliance by the Corporation and
the Participant with all applicable requirements of law relating thereto and with all applicable regulations of any Stock Exchange on which the Common Stock may be listed for trading at the time of such exercise and issuance. 

(b) The inability of the Corporation to obtain approval from any regulatory body having authority deemed by the Corporation to be necessary
to the lawful issuance and sale of any Common Stock pursuant to this option shall relieve the Corporation of any liability with respect to the non-issuance or sale of the Common Stock as to which such approval shall not have been obtained. The
Corporation, however, shall use its best efforts to obtain all such approvals. 
 11. Successors and Assigns. Except to the
extent otherwise provided in Paragraphs 3 and 6, the provisions of this Agreement shall inure to the benefit of, and be binding upon, the Corporation and its successors and assigns and the Participant, the Participant’s assigns and the
legal representatives, heirs and legatees of the Participant’s estate. 
 12. Notices. Any notice required to be given or
delivered to the Corporation under the terms of this Agreement shall be in writing and addressed to the Corporation at its principal corporate offices. Any notice required to be given or delivered to the Participant shall

  
 5 

 
be in writing and addressed to the Participant at the address indicated below the Participant’s signature line on the Grant Notice. All notices shall be deemed effective upon personal
delivery or upon deposit in the U.S. mail, postage prepaid and properly addressed to the party to be notified. 
 13.
Construction. This Agreement and the option evidenced hereby are made and granted pursuant to the Plan and are in all respects limited by and subject to the terms of the Plan. All decisions of the Plan Administrator with respect to any
question or issue arising under the Plan or this Agreement shall be conclusive and binding on all persons having an interest in this option. 

14. Governing Law. The interpretation, performance and enforcement of this Agreement shall be governed by the laws of the State
of Delaware without resort to that state’s conflict-of-laws rules. 
 15. Stockholder Approval. If the Option Shares
covered by this Agreement exceed, as of the Grant Date, the number of shares of Common Stock which may be issued under the Plan as last approved by the stockholders, then this option shall be void with respect to such excess shares, unless
stockholder approval of an amendment sufficiently increasing the number of shares of Common Stock issuable under the Plan is obtained in accordance with the provisions of the Plan. 

16. Additional Terms Applicable to an Incentive Option. In the event this option is designated an Incentive Option in the Grant
Notice, the following terms and conditions shall also apply to the grant: 
 (a) This option shall cease to qualify for favorable tax
treatment as an Incentive Option if (and to the extent) this option is exercised for one or more Option Shares: (i) more than three (3) months after the date the Participant ceases to be an Employee for any reason other than death or
Permanent Disability or (ii) more than twelve (12) months after the date the Participant ceases to be an Employee by reason of Permanent Disability. 

(b) No installment under this option shall qualify for favorable tax treatment as an Incentive Option if (and to the extent) the aggregate
Fair Market Value (determined at the Grant Date) of the Common Stock for which such installment first becomes exercisable hereunder would, when added to the aggregate value (determined as of the respective date or dates of grant) of the Common Stock
or other securities for which this option or any other Incentive Options granted to the Participant prior to the Grant Date (whether under the Plan or any other option plan of the Corporation or any Parent or Subsidiary) first become exercisable
during the same calendar year, exceed One Hundred Thousand Dollars ($100,000) in the aggregate. Should such One Hundred Thousand Dollar ($100,000) limitation be exceeded in any calendar year, this option shall nevertheless become exercisable for the
excess shares in such calendar year as a Non-Statutory Option. 
 (c) Should the Participant hold, in addition to this option, one or more
other options to purchase Common Stock which become exercisable for the first time in the same calendar year as this option, then for purposes of the foregoing limitations on the exercisability 

  
 6 

 
of such options as Incentive Options, this option and each of those other options shall be deemed to become first exercisable in that calendar year on the basis of the chronological order in
which they were granted, except to the extent otherwise provided under applicable law or regulation. 
 17. Employment at
Will. Nothing in this Agreement or in the Plan shall confer upon the Participant any right to continue in Service for any period of specific duration or interfere with or otherwise restrict in any way the rights of the Corporation (or any
Parent or Subsidiary employing or retaining the Participant) or of the Participant, which rights are hereby expressly reserved by each, to terminate the Participant’s Service at any time for any reason, with or without cause. 

18. Definitions. The following definitions shall be in effect under the Agreement: 

(a) Agreement shall mean this Stock Option Agreement. 

(b) Board shall mean the Corporation’s Board of Directors. 

(c) Change in Control shall mean a change in ownership or control of the Corporation effected through any of the following
transactions: 
 (i) a merger, consolidation or other reorganization approved by the Corporation’s stockholders, unless securities
representing more than fifty percent (50%) of the total combined voting power of the voting securities of the successor corporation are immediately thereafter beneficially owned, directly or indirectly and in substantially the same proportion,
by the persons who beneficially owned the Corporation’s outstanding voting securities immediately prior to such transaction; 
 (ii) a
stockholder-approved sale, transfer or other disposition of all or substantially all of the Corporation’s assets in liquidation or dissolution of the Corporation; 

(iii) the acquisition, directly or indirectly by any person or related group of persons (other than the Corporation or a person that directly
or indirectly controls, is controlled by, or is under common control with, the Corporation), of beneficial ownership (within the meaning of Rule 13d-3 of the 1934 Act) of securities possessing more than fifty percent (50%) of the total combined
voting power of the Corporation’s outstanding securities pursuant to a tender or exchange offer made directly to the Corporation’s stockholders; or 

(iv) a change in the composition of the Board over a period of twelve (12) consecutive months or less such that a majority of the Board
members ceases to be comprised of individuals who either (I) have been Board members continuously since the beginning of such period (“Incumbent Directors”) or (II) have been elected or nominated for election as Board
members during such period by at least a majority of the Incumbent Directors who were still in office at the time the Board approved such election or nomination; provided that any individual who becomes a Board member subsequent to the beginning of
such period and whose election or nomination was approved by at least two-thirds of the Board members then comprising the Incumbent Directors will be considered an Incumbent Director. 

  
 7 

 (d) Code shall mean the Internal Revenue Code of 1986, as amended. 

(e) Common Stock shall mean the Corporation’s common stock. 

(f) Corporation shall mean Veritone, Inc., a Delaware corporation, and any corporate successor to all or substantially all of
the assets or voting stock of Veritone, Inc. 
 (g) Employee shall mean an individual who is in the employ of the Corporation
(or any Parent or Subsidiary, whether now existing or subsequently established), subject to the control and direction of the employer entity as to both the work to be performed and the manner and method of performance. 

(h) Exercise Date shall mean the date on which the option shall have been exercised in accordance with Paragraph 9 of the
Agreement. 
 (i) Exercise Price shall mean the exercise price payable per Option Share as specified in the Grant Notice.

 (j) Exercise Schedule shall mean the schedule set forth in the Grant Notice pursuant to which the option is to become
exercisable for the Option Shares in one or more installments over the Participant’s period of Service. 
 (k) Expiration
Date shall mean the date on which the option expires as specified in the Grant Notice. 
 (l) Fair Market Value per
share of Common Stock on any relevant date shall be determined in accordance with the following provisions: 
 (i) If the Common Stock is
at the time traded on a Stock Exchange, then the Fair Market Value shall be the closing selling price per share of Common Stock at the close of regular hours trading (i.e., before after-hours trading begins) on the date in question on the Stock
Exchange serving as the primary market for the Common Stock, as such price is reported by the National Association of Securities Dealers (if primarily traded on the Nasdaq Global or Global Select Market) or as officially quoted in the composite tape
of transactions on any other Stock Exchange on which the Common Stock is then primarily traded. If there is no closing selling price for the Common Stock on the date in question, then the Fair Market Value shall be the closing selling price on the
last preceding date for which such quotation exists. 
 (ii) If the Common Stock is at the time quoted on a national or regional securities
exchange or market system (including over-the-counter markets and the Nasdaq Capital Market) determined by the Plan Administrator to be the primary market for the Common Stock, then the Fair Market Value shall be the closing selling price per share
of Common Stock on the date in question, as such price is officially reported by such exchange or market system. If there is no closing selling price for the Common Stock on the date in question, then the Fair Market Value shall be the closing
selling price of a share of Common Stock on the last preceding date for which such quotation exists. 

  
 8 

 (m) Grant Date shall mean the date of grant of the option as specified in the
Grant Notice. 
 (n) Grant Notice shall mean the Notice of Grant of Stock Option accompanying the Agreement, pursuant to
which the Participant has been informed of the basic terms of the option evidenced hereby. 
 (o) Incentive Option shall mean
an option which satisfies the requirements of Code Section 422. 
 (p) Misconduct shall mean the commission of any act
of fraud, embezzlement or dishonesty by the Participant, any unauthorized use or disclosure by the Participant of confidential information or trade secrets of the Corporation (or any Parent or Subsidiary), or any other intentional misconduct by the
Participant adversely affecting the business or affairs of the Corporation (or any Parent or Subsidiary) in a material manner. The foregoing definition shall not in any way preclude or restrict the right of the Corporation (or any Parent or
Subsidiary) to discharge or dismiss the Participant or any other person in the Service of the Corporation (or any Parent or Subsidiary) for any other acts or omissions, but such other acts or omissions shall not be deemed, for purposes of the Plan
or this Agreement, to constitute grounds for termination for Misconduct. 
 (q) 1934 Act shall mean the Securities Exchange
Act of 1934, as amended. 
 (r) Non-Statutory Option shall mean an option not an Incentive Option. 

(s) Notice of Exercise shall mean the notice of exercise in such form as provided by the Corporation. 

(t) Option Shares shall mean the number of shares of Common Stock subject to the option. 

(u) Parent shall mean any corporation (other than the Corporation) in an unbroken chain of corporations ending with the
Corporation, provided each corporation in the unbroken chain (other than the Corporation) owns, at the time of the determination, 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. 
 (v) Participant shall mean the person to whom the option is granted as specified in
the Grant Notice. 
 (w) Permanent Disability shall mean the inability of the Participant to engage in any substantial
gainful activity by reason of any medically determinable physical or mental impairment expected to result in death or to be of a continuous duration of twelve (12) months or more. 

(x) Plan shall mean the Corporation’s 2017 Stock Incentive Plan. 

  
 9 

 (y) Plan Administrator shall mean either the Board or a committee of the Board
acting in its capacity as administrator of the Plan. 
 (z) Service shall mean the Participant’s performance of services
for the Corporation (or any Parent or Subsidiary, whether now existing or subsequently established) in the capacity of an Employee, a non-employee member of the board of directors or a consultant or independent advisor. For purposes of this
Agreement, the Participant shall be deemed to cease Service immediately upon the occurrence of either of the following events: (i) the Participant no longer performs services in any of the foregoing capacities for the Corporation or any Parent
or Subsidiary or (ii) the entity for which the Participant is performing such services ceases to remain a Parent or Subsidiary of the Corporation, even though the Participant may subsequently continue to perform services for that entity.
Service shall not be deemed to cease during a period of military leave, sick leave or other personal leave approved by the Corporation; provided, however, that should such leave of absence exceed three (3) months, then for purposes of
determining the period within which the Option (if designated as an Incentive Option in the Grant Notice) may be exercised as such an Incentive Option under the federal tax laws, the Participant’s Service shall be deemed to cease on the first
day immediately following the expiration of such three (3)-month period, unless the Participant is provided with the right to return to Service following such leave either by statute or by written contract. Except to the extent otherwise required by
law or expressly authorized by the Plan Administrator or by the Corporation’s written policy on leaves of absence, no Service credit shall be given for vesting purposes for any period the Participant is on a leave of absence. 

(aa) Stock Exchange shall mean the American Stock Exchange, the Nasdaq Global or Global Select Market or the New York Stock
Exchange. 
 (bb) Stock Purchase Agreement shall mean the stock purchase agreement in substantially the form of Exhibit B to
the Grant Notice. 
 (cc) Subsidiary shall mean any corporation (other than the Corporation) in an unbroken chain of
corporations beginning with the Corporation, provided each corporation (other than the last corporation) in the unbroken chain owns, at the time of the determination, 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. 

  
 10 

 2017 SIP - INSTALLMENT 

VERITONE, INC. 

STOCK PURCHASE AGREEMENT 

THIS STOCK PURCHASE AGREEMENT made this     day of
            , 20        by and between Veritone, Inc., a Delaware corporation, and
                    , Participant under the Corporation’s 2017 Stock Issuance Plan. 

All capitalized terms in this Agreement shall have the meaning assigned to them in this Agreement or in the attached Appendix. 

 

	 	A.	EXERCISE OF OPTION 

 1. Exercise. Participant hereby purchases
            shares of Common Stock (the “Purchased Shares”) pursuant to that certain option (the “Option”) granted to Participant on
                    ,             (the “Grant Date”) to purchase
up to                 shares of Common Stock (the “Option Shares”) under the Plan at the exercise price of
$            per share (the “Exercise Price”). 
 2.
Payment. Concurrently with the delivery of this Agreement to the Corporation, Participant shall pay the Exercise Price for the Purchased Shares in accordance with the provisions of the Option Agreement and shall deliver whatever
additional documents may be required by the Option Agreement as a condition for exercise. 
 3. Stockholder Rights.
Participant (or any successor in interest) shall have all the rights of a stockholder (including voting, dividend and liquidation rights) with respect to the Purchased Shares, subject, however, to the market stand-off provision set forth herein.

  

	 	B.	TRANSFER RESTRICTIONS 

 1. Restriction on Transfer. Participant
shall not transfer, assign, encumber or otherwise dispose of any of the Purchased Shares in contravention of the Market Stand-Off. 
 2.
Transferee Obligations. Each person (other than the Corporation) to whom the Purchased Shares are transferred by means of a Permitted Transfer must, as a condition precedent to the validity of such transfer, acknowledge in writing to
the Corporation that such person is bound by the provisions of this Agreement and that the transferred shares are subject to the Market Stand-Off to the same extent such shares would be so subject if retained by Participant. 

3. Market Stand-Off. 

(a) In connection with any underwritten public offering by the Corporation of its equity securities pursuant to an effective registration
statement filed under the 1933 Act, including the Corporation’s initial public offering, Owner shall not sell, make any short sale of, loan, hypothecate, pledge, grant any option for the purchase of, or otherwise dispose or transfer for value
or otherwise agree to engage in any of the foregoing transactions with respect to, any Purchased Shares without the prior written consent of the Corporation or its underwriters. Such restriction (the “Market Stand-Off”) shall
be in effect for such period of time from and after the effective date of the final prospectus for the offering as may be requested by the Corporation or such underwriters. In no event, however, shall such period exceed the greater of: (a) one
hundred eighty (180) days, or (b) if required by such underwriter, such 

 
longer period of time as is necessary to enable the underwriter to issue a research report, analyst recommendation or opinion in accordance with the then-applicable rules and regulations of the
Financial Regulatory Authority, Inc. and the applicable stock exchange, but in no event in excess of two hundred ten (210) days following the effective date of the registration statement relating to such offering. The Market Stand-Off shall in
no event be applicable to any underwritten public offering effected after May 11, 2019 and all of the transfer restrictions and other obligations of Section B of this Agreement shall lapse at 5 pm Pacific time on May 11, 2019. 

(b) Owner shall be subject to the Market Stand-Off provided and only if the officers and directors of the Corporation are also subject to
similar restrictions. 
 (c) Any new, substituted or additional securities which are by reason of any Recapitalization or Reorganization
distributed with respect to the Purchased Shares shall be immediately subject to the Market Stand-Off, to the same extent the Purchased Shares are at such time covered by such provisions. 

(d) In order to enforce the Market Stand-Off, the Corporation may impose stop-transfer instructions with respect to the Purchased Shares
until the end of the applicable stand-off period. 
  

	 	C.	GENERAL PROVISIONS 

 1. At Will Employment. Nothing in this
Agreement or in the Plan shall confer upon Participant any right to continue in employment or service for any period of specific duration or interfere with or otherwise restrict in any way the rights of the Corporation (or any Parent or Subsidiary
employing or retaining Participant) or of Participant, which rights are hereby expressly reserved by each, to terminate Participant’s service or employment at any time for any reason, with or without cause. 

2. Notices. Any notice required to be given under this Agreement shall be in writing and shall be deemed effective upon personal
delivery or upon deposit in the U.S. mail, registered or certified, postage prepaid and properly addressed to the party entitled to such notice at the address indicated below such party’s signature line on this Agreement or at such other
address as such party may designate by ten (10) days advance written notice under this paragraph to all other parties to this Agreement. 
  

	 	D.	MISCELLANEOUS PROVISIONS 

 1. Participant Undertaking. Participant
hereby agrees to take whatever additional action and execute whatever additional documents the Corporation may deem necessary or advisable in order to carry out or effect one or more of the obligations or restrictions imposed on either Participant
or the Purchased Shares pursuant to the provisions of this Agreement. 
 2. Agreement is Entire Contract. This Agreement
constitutes the entire contract between the parties hereto with regard to the subject matter hereof. This Agreement is made pursuant to the provisions of the Plan and shall in all respects be construed in conformity with the terms of the Plan. 

3. Governing Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware
without resort to that state’s conflict-of-laws rules. 

  
 2 

 4. Counterparts. This Agreement may be executed in counterparts, each of which
shall be deemed to be an original, but all of which together shall constitute one and the same instrument. 
 5. Successors and
Assigns. The provisions of this Agreement shall inure to the benefit of, and be binding upon, the Corporation and its successors and assigns and upon Participant, Participant’s permitted assigns and the legal representatives, heirs and
legatees of Participant’s estate, whether or not any such person shall have become a party to this Agreement and have agreed in writing to join herein and be bound by the terms hereof. 

IN WITNESS WHEREOF, the parties have executed this Agreement on the day and year first indicated above. 

 

			
	VERITONE, INC.

 
			
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 
			
	
	  

	PARTICIPANT NAME:

 
			
		
	Address:	 	  

	  

  
 3 

 SPOUSAL ACKNOWLEDGMENT 

The undersigned spouse of Participant has read and hereby approves the foregoing Stock Purchase Agreement. In consideration of the
Corporation’s granting Participant the right to acquire the Purchased Shares in accordance with the terms of such Agreement, the undersigned hereby agrees to be irrevocably bound by all the terms of such Agreement. 

 

			
	  

	SPOUSE NAME:

 
			
		
	Address:	 	  

	  

 APPENDIX 

The following definitions shall be in effect under the Agreement: 

A. Agreement shall mean this Stock Purchase Agreement. 

B. Board shall mean the Corporation’s Board of Directors. 

C. Common Stock shall mean the Corporation’s common stock. 

D. Corporation shall mean Veritone, Inc., a Delaware corporation, and any successor corporation to all or substantially all of
the assets or voting stock of Veritone, Inc. which shall by appropriate action adopt the Plan. 
 E. Exercise Price shall
have the meaning assigned to such term in Paragraph A.1. 
 F. Family Member shall mean any of the following members of
the Participant’s family: any child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law or sister-in-law. 

G. Market Stand-Off shall mean the market stand-off restriction specified in Paragraph B.3. 

H. 1933 Act shall mean the Securities Act of 1933, as amended. 

I. Option shall have the meaning assigned to such term in Paragraph A.1. 

J. Option Agreement shall mean all agreements and other documents evidencing the Option. 

K. Owner shall mean Participant and all subsequent holders of the Purchased Shares who derive their chain of ownership through
a Permitted Transfer from Participant. 
 L. Parent shall mean any corporation (other than the Corporation) in an unbroken
chain of corporations ending with the Corporation, provided each corporation in the unbroken chain (other than the Corporation) owns, at the time of the determination, 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. 
 M. Participant shall mean the person to whom
the Option is granted under the Plan. 
 N. Permitted Transfer shall mean (i) a gratuitous transfer of the Purchased
Shares to one or more of the Participant’s Family Members or to a trust established for Participant or one or more such Family Members, provided and only if Participant obtains the Corporation’s prior written consent to such transfer,
(ii) a transfer of title to the Purchased Shares effected pursuant to Participant’s will or the laws of inheritance following Participant’s death or (iii) a transfer to the Corporation in pledge as security for any purchase-money
indebtedness incurred by Participant in connection with the acquisition of the Purchased Shares. 
 O. Plan shall mean the
Corporation’s 2017 Stock Issuance Plan, as amended. 

  
 A-1 

 P. Purchased Shares shall have the meaning assigned to such term in Paragraph A.1.

 Q. Recapitalization shall mean any of the following transactions affecting the Corporation’s outstanding Common Stock
as a class without the Corporation’s receipt of consideration: any stock split, stock dividend, spin-off transaction, extraordinary distribution (whether in cash, securities or other property), recapitalization, combination of shares, exchange
of shares or other similar transaction affecting the Common Stock without the Corporation’s receipt of consideration. 
 R.
Reorganization shall mean any of the following transactions: 
 (i) a merger or consolidation in which the
Corporation is not the surviving entity, 
 (ii) a sale, transfer or other disposition of all or substantially all of the
Corporation’s assets, 
 (iii) a reverse merger in which the Corporation is the surviving entity but in which the
Corporation’s outstanding voting securities are transferred in whole or in part to a person or persons different from the persons holding those securities immediately prior to the merger, or 

(iv) any transaction effected primarily to change the state in which the Corporation is incorporated or to create a holding
company structure. 
 S. SEC shall mean the Securities and Exchange Commission. 

T. Subsidiary shall mean any corporation (other than the Corporation) in an unbroken chain of corporations beginning with the
Corporation, provided each corporation (other than the last corporation) in the unbroken chain owns, at the time of the determination, 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. 

  
 A-2

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