Document:

exv10w01

Exhibit 10.01

INDEMNITY AGREEMENT

          This Indemnity Agreement, dated as of                     , 2010 is made by and between Green Dot
Corporation, a Delaware corporation (the “Company”), and                     , a director, officer
or key employee of the Company or one of the Company’s subsidiaries or other service provider
who satisfies the definition of Indemnifiable Person set forth below (“Indemnitee”).

RECITALS

          A. The Company is aware that competent and experienced persons are increasingly reluctant
to serve as representatives of corporations unless they are protected by comprehensive liability
insurance and indemnification, due to increased exposure to litigation costs and risks resulting
from their service to such corporations, and due to the fact that the exposure frequently bears
no relationship to the compensation of such representatives;

          B. The members of the Board of Directors of the Company (the “Board”) have concluded that
to retain and attract talented and experienced individuals to serve as representatives of the
Company and its Subsidiaries and Affiliates (as defined below) and to encourage such individuals
to take the business risks necessary for the success of the Company and its Subsidiaries and
Affiliates, it is necessary for the Company to contractually indemnify certain of its
representatives and the representatives of its Subsidiaries and Affiliates, and to assume for
itself maximum liability for Expenses and Other Liabilities (each as defined below) in
connection with claims against such representatives in connection with their service to the
Company and its Subsidiaries and Affiliates;

          C. Section 145 of the Delaware General Corporation Law (“Section 145”), empowers the
Company to indemnify by agreement its officers, directors, employees and agents, and persons who
serve, at the request of the Company, as directors, officers, employees or agents of other
corporations, partnerships, joint ventures, trusts or other enterprises, and expressly provides
that the indemnification provided thereby is not exclusive; and

          D. The Company desires and has requested Indemnitee to serve or continue to serve as a
representative of the Company and/or the Subsidiaries or Affiliates of the Company free from
undue concern about inappropriate claims for damages arising out of or related to such services
to the Company and/or the Subsidiaries or Affiliates of the Company.

 

 

AGREEMENT

          NOW, THEREFORE, the parties hereto, intending to be legally bound, hereby agree as follows:

     1. Definitions. As used herein:

          (a) The term “Affiliate” of the Company means any corporation, partnership, limited liability
company, joint venture, trust or other enterprise in respect of which Indemnitee is or was or will
be serving as a director, officer, trustee, manager, member, partner, employee, agent, attorney,
consultant, member of the entity’s governing body (whether constituted as a board of directors,
board of managers, general partner or otherwise), fiduciary, or in any other similar capacity at
the request, election or direction of the Company, and including, but not limited to, any employee
benefit plan of the Company or a Subsidiary or Affiliate of the Company.

          (b) The term “Change in Control” means (i) any “person” (as such term is used in Sections
13(d) and 14(d) of the Securities Exchange Act of 1934, as amended), other than a Subsidiary or a
trustee or other fiduciary holding securities under an employee benefit plan of the Company or
Subsidiary, that is or becomes the “beneficial owner” (as defined in Rule 13d-3 under said Act),
directly or indirectly, of securities of the Company representing 20% or more of the total voting
power represented by the Company’s then outstanding capital stock (other than as a result of one or
more of the following: (x) continuing to hold securities acquired prior to the Company’s initial
public offering (the “IPO”); (y) exercise of securities acquired prior to the IPO (and continuing
to hold the securities issued upon exercise thereof); or (z) the exercise of securities issued
under the Company’s equity compensation plans); (ii) during any period of two (2) consecutive
years, individuals who at the beginning of such period constitute the Board and any new director
whose election by the Board or nomination for election by the Company’s stockholders was approved
by a vote of at least two-thirds (2/3) of the directors then still in office who either were
directors at the beginning of the period or whose election or nomination for election was
previously so approved, cease for any reason to constitute a majority thereof; (iii) the
stockholders of the Company approve a merger or consolidation of the Company with any other
corporation, other than a merger or consolidation that would result in the outstanding capital
stock of the Company outstanding immediately prior thereto continuing to represent (either by
remaining outstanding or by being converted into capital stock of the surviving entity) at least
80% of the total voting power represented by the capital stock of the Company or such surviving
entity outstanding immediately after such merger or consolidation; or (iv) the stockholders of the
Company approve a plan of complete liquidation of the Company or an agreement for the sale or
disposition by the Company (in one transaction or a series of transactions) of all or substantially
all of the Company’s assets.

          (c) The term “Expenses” means all direct and indirect costs of any type or nature whatsoever
(including, without limitation, all attorneys’ fees and related disbursements, and other
out-of-pocket costs), paid or incurred by Indemnitee in connection with either the investigation,
defense or appeal of, or being a witness in a Proceeding (as defined below), or establishing or
enforcing a right to indemnification under this Agreement, Section 145 or
otherwise; provided, however, that Expenses shall not include any judgments, fines, ERISA
excise taxes or penalties or amounts paid in settlement of a Proceeding.

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          (d) The term “Indemnifiable Event” means any event or occurrence related to Indemnitee’s
service for the Company or any Subsidiary or Affiliate as an Indemnifiable Person (as defined
below), or by reason of anything done or not done, or any act or omission, by Indemnitee in any
such capacity.

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

          (f) The term “Independent Counsel” means legal counsel that has not performed services for the
Company or Indemnitee in the five years preceding the time in question and that would not, under
applicable standards of professional conduct, have a conflict of interest in representing either
the Company or Indemnitee.

          (g) The term “Other Liabilities” means any and all liabilities of any type whatsoever
(including, but not limited to, judgments, fines, penalties, ERISA (or other benefit plan related)
excise taxes or penalties, and amounts paid in settlement and all interest, taxes, assessments and
other charges paid or payable in connection with or in respect of any such judgments, fines, ERISA
(or other benefit plan related) excise taxes or penalties, or amounts paid in settlement).

          (h) The term “Proceeding” means any threatened, pending, or completed action, suit or other
proceeding, whether civil, criminal, administrative, investigative, legislative or any other type
whatsoever, preliminary, informal or formal, including any arbitration or other alternative dispute
resolution and including any appeal of any of the foregoing.

          (i) The term “Subsidiary” means any entity of which more than 50% of the outstanding voting
securities is owned directly or indirectly by the Company.

     2. Agreement to Serve. The Indemnitee agrees to serve and/or continue to serve as an
Indemnifiable Person in the capacity or capacities in which Indemnitee currently serves the Company
as an Indemnifiable Person, and any additional capacity in which Indemnitee may agree to serve,
until such time as Indemnitee’s service in a particular capacity shall end according to the terms
of an agreement, the Company’s Certificate of Incorporation or Bylaws, governing law, or otherwise.
Nothing contained in this Agreement is intended to create any right to continued employment or
other form of service for the Company or a Subsidiary or Affiliate of the Company by Indemnitee.

     3. Mandatory Indemnification.

          (a) Agreement to Indemnify. In the event Indemnitee is a person who was or is a party
to or witness in or is threatened to be made a party to or witness in any Proceeding by reason of
an Indemnifiable Event, the Company shall indemnify Indemnitee from and against
any and all Expenses and Other Liabilities incurred by Indemnitee in connection with
(including in preparation for) such Proceeding to the fullest extent not prohibited by the
provisions of the Company’s Bylaws and the Delaware General Corporation Law (“GCL”), as the same
may be

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amended from time to time (but only to the extent that such amendment permits the Company to
provide broader indemnification rights than the Bylaws or the GCL permitted prior to the adoption
of such amendment).

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

          (c) Company Obligations Primary. The Company hereby acknowledges that Indemnitee may
have rights to indemnification for Expenses and Other Liabilities provided by a third party (“Other
Indemnitor”). The Company agrees with Indemnitee that the Company is the indemnitor of first
resort of Indemnitee with respect to matters for which indemnification is provided under this
Agreement and that the Company will be obligated to make all payments due to or for the benefit of
Indemnitee under this Agreement without regard to any rights that Indemnitee may have against the
Other Indemnitor. The Company hereby waives any equitable rights to contribution or
indemnification from the Other Indemnitor in respect of any amounts paid to Indemnitee hereunder.
The Company further agrees that no reimbursement of Other Liabilities or payment of Expenses by the
Other Indemnitor to or for the benefit of Indemnitee shall affect the obligations of the Company
hereunder, and that the Company shall be obligated to repay the Other Indemnitor for all amounts so
paid or reimbursed to the extent that the Company has an obligation to indemnify Indemnitee for
such Expenses or Other Liabilities hereunder.

     4. Partial Indemnification. If Indemnitee is entitled under any provision of this
Agreement to indemnification by the Company for some or a portion of any Expenses or Other
Liabilities but not entitled, however, to indemnification for the total amount of such Expenses or
Other Liabilities, the Company shall nevertheless indemnify Indemnitee for such total amount except
as to the portion thereof for which indemnification is prohibited by the provisions of the
Company’s Bylaws or the GCL. In any review or Proceeding to determine the extent of
indemnification, the Company shall bear the burden to establish, by clear and convincing evidence,
the lack of a successful resolution of a particular claim, issue or matter and which amounts sought
in indemnity are allocable to claims, issues or matters which were not successfully resolved.

     5. Liability Insurance. So long as Indemnitee shall continue to serve the Company or
a Subsidiary or Affiliate of the Company as an Indemnifiable Person and thereafter so long as
Indemnitee shall be subject to any possible claim or threatened, pending or completed Proceeding as
a result of an Indemnifiable Event, the Company shall use reasonable efforts to maintain in full
force and effect for the benefit of Indemnitee as an insured (a) liability insurance issued by one
or more reputable insurers and having the policy amount and deductible deemed appropriate by the
Board and providing in all respects coverage at least comparable to and in the same
amount as that provided to the Chairperson of the Board, Chief Executive Officer or Chief
Financial Officer of the Company when such insurance is purchased, and (b) any replacement or
substitute policies issued by one or more reputable insurers providing in all respects coverage at
least comparable to and in the same amount as that being provided to the Chairperson of the

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Board, Chief Executive Officer or Chief Financial Officer of the Company when such replacement or
substitute policies are purchased. The purchase, establishment and maintenance of any such
insurance or other arrangements shall not in any way limit or affect the rights and obligations of
the Company or of Indemnitee under this Agreement except as expressly provided herein, and the
execution and delivery of this Agreement by the Company and Indemnitee shall not in any way limit
or affect the rights and obligations of the Company or the other party or parties thereto under any
such insurance or other arrangement.

     6. Mandatory Advancement of Expenses.

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

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

          If a decision is made by the decision maker that Indemnitee acted in bad faith, Indemnitee
shall have the right to apply to the Delaware Court of Chancery for the purpose of determining
whether Indemnitee has acted in bad faith.

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     7. Notice and Other Indemnification Procedures.

          (a) Notification. Promptly after receipt by Indemnitee of notice of the commencement
of or the threat of commencement of any Proceeding, Indemnitee shall, if Indemnitee believes that
indemnification or advancement of Expenses with respect thereto may be sought from the Company
under this Agreement, notify the Company of the commencement or threat of commencement thereof.
However, a failure so to notify the Company promptly following Indemnitee’s receipt of such notice
shall not relieve the Company from any liability that it may have to Indemnitee except to the
extent that the Company is materially prejudiced in its defense of such Proceeding as a result of
such failure.

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

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

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

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     8. Determination of Right to Indemnification.

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

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

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

               (i) Those members of the Board who are Independent Directors even though less than a quorum;

               (ii) A committee of Independent Directors designated by a majority vote of Independent
Directors, even though less than a quorum; or

               (iii) Independent Counsel selected by Indemnitee and approved by the Board, which approval may
not be unreasonably withheld.

               If Indemnitee is an officer or a director of the Company at the time that Indemnitee is
selecting the forum, then Indemnitee shall not select Independent Counsel as such forum unless
there are no Independent Directors or unless the Independent Directors agree to the selection of
independent counsel as the forum.

               The selected forum shall be referred to herein as the “Reviewing Party”. Notwithstanding the
foregoing, following any Change in Control, the Reviewing Party shall be Independent Counsel
selected in the manner provided in (iii) above.

          (d) As soon as practicable, and in no event later than thirty (30) days after receipt by the
Company of written notice of Indemnitee’s choice of forum pursuant to Section 8(c) above, the
Company and Indemnitee shall each submit to the Reviewing Party such information as they believe is
appropriate for the Reviewing Party to consider. The Reviewing Party shall arrive at its decision
within a reasonable period of time following the receipt of all such information from the Company
and Indemnitee, but in no event later than thirty (30) days following the receipt of all such
information, provided that the time by which the Reviewing Party must reach a decision may be
extended by mutual agreement of the Company and
Indemnitee. The Reviewing Party shall inform the Company and Indemnitee of such decision in
writing in accordance with Section 14 hereof. All Expenses associated with the process set forth
in this Section 8(d), including but not limited to the Expenses of the Reviewing Party, shall be
paid by the Company.

          (e) Delaware Court of Chancery. Notwithstanding a final determination by any
Reviewing Party that Indemnitee is not entitled to indemnification with respect to a specific

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Proceeding, Indemnitee shall have the right to apply to the Court of Chancery, for the purpose of
enforcing Indemnitee’s right to indemnification pursuant to this Agreement.

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

          (g) Determination of “Good Faith”. For purposes of any determination of whether
Indemnitee acted in “good faith” or acted in “bad faith,” Indemnitee shall be deemed to have acted
in good faith or not acted in bad faith if in taking or failing to take the action in question
Indemnitee relied on the records or books of account of the Company or a Subsidiary or Affiliate of
the Company, including financial statements, or on information, opinions, reports or statements
provided to Indemnitee by the officers or other employees of the Company or a Subsidiary or
Affiliate of the Company in the course of their duties, or on the advice of legal counsel for the
Company or a Subsidiary or Affiliate of the Company, or on information or records given or reports
made to the Company or a Subsidiary or Affiliate of the Company by an independent certified public
accountant or by an appraiser or other expert selected by the Company or a Subsidiary or Affiliate
of the Company, or by any other person (including legal counsel, accountants and financial
advisors) as to matters Indemnitee reasonably believes are within such other person’s professional
or expert competence and who has been selected with reasonable care by or on behalf of the Company.
In connection with any determination as to whether Indemnitee is entitled to be indemnified
hereunder, or to advancement of Expenses, the Reviewing Party, decision maker pursuant to Section
6(b) or court shall presume that Indemnitee has satisfied the applicable standard of conduct and is
entitled to indemnification or advancement of Expenses, as the case may be, and the burden of proof
shall be on the Company to establish, by clear and convincing evidence, that Indemnitee is not so
entitled. The provisions of this Section 8(g) shall not be deemed to be exclusive or to limit in
any way the other circumstances in which Indemnitee may be deemed to have met the applicable
standard of conduct set forth in this Agreement. In addition, the knowledge and/or actions, or
failures to act, of any other person serving the Company or a Subsidiary or Affiliate of the
Company as an Indemnifiable Person shall not be imputed to Indemnitee for purposes of determining
the right to indemnification hereunder.

     9. Exceptions. Any other provision herein to the contrary notwithstanding,

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

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

          (c) Unlawful Indemnification. The Company shall not be obligated pursuant to the
terms of this Agreement to indemnify Indemnitee for Other Liabilities if such indemnification is
prohibited by law.

     10. Non-exclusivity. The provisions for indemnification and advancement of Expenses
set forth in this Agreement shall not be deemed exclusive of any other rights which Indemnitee may
have under any provision of law, the Company’s Certificate of Incorporation or Bylaws, the vote of
the Company’s stockholders or disinterested directors, other agreements, or otherwise, both as to
acts or omissions in his or her official capacity and to acts or omissions in another capacity
while serving the Company or a Subsidiary or Affiliate of the Company as an Indemnifiable Person
and Indemnitee’s rights hereunder shall continue after Indemnitee has ceased serving the Company or
a Subsidiary or Affiliate of the Company as an Indemnifiable Person and shall inure to the benefit
of the heirs, executors and administrators of Indemnitee.

     11. Severability. If any provision or provisions of this Agreement shall be held to
be invalid, illegal or unenforceable for any reason whatsoever, (a) the validity, legality and
enforceability of the remaining provisions of the Agreement (including, without limitation, all
portions of any paragraphs of this Agreement containing any such provision held to be invalid,
illegal or unenforceable, that are not themselves invalid, illegal or unenforceable) shall not in
any way be affected or impaired thereby, and (b) to the fullest extent possible, the provisions of
this Agreement (including, without limitation, all portions of any paragraphs of this Agreement
containing any such provision held to be invalid, illegal or unenforceable, that are not themselves
invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifested
by the provision held invalid, illegal or unenforceable.

     12. Modification and Waiver. No supplement, modification or amendment of this
Agreement shall be binding unless executed in writing by both of the parties hereto. No waiver of
any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any
other provision hereof (whether or not similar) and except as expressly provided herein, no
such waiver shall constitute a continuing waiver.

     13. Successors and Assigns. The terms of this Agreement shall bind, and shall inure
to the benefit of, the successors and assigns of the parties hereto.

     14. Notice. All notices, requests, demands and other communications under this
Agreement shall be in writing and shall be deemed duly given (a) if delivered by hand and a receipt
is provided by the party to whom such communication is delivered, (b) if mailed by certified or
registered mail with postage prepaid, return receipt requested, on the signing by the recipient of
an acknowledgement of receipt form accompanying delivery through the U.S. mail, (c) if served
personally by a process server, or (d) if delivered to the recipient’s address by overnight
delivery (e.g., FedEx, UPS or DHL) or other commercial delivery service. Addresses

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for notice to
either party are as shown on the signature page of this Agreement, or as subsequently modified by
written notice complying with the provisions of this Section 14. Delivery of communications to the
Company with respect to this Agreement shall be sent to the attention of the Company’s General
Counsel.

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

     16. Survival of Rights. The rights conferred on Indemnitee by this Agreement shall
continue after Indemnitee has ceased to serve the Company or a Subsidiary or Affiliate of the
Company as an Indemnifiable Person and shall inure to the benefit of Indemnitee’s heirs, executors
and administrators.

     17. Subrogation. Except as otherwise expressly provided in this Agreement, in the
event of payment under this Agreement, the Company shall be subrogated to the extent of such
payment to all of the rights of recovery of Indemnitee, who shall execute all documents required
and shall do all acts that may be necessary to secure such rights and to enable the Company
effectively to bring suit to enforce such rights.

     18. Specific Performance, Etc. The parties recognize that if any provision of this
Agreement is violated by the Company, Indemnitee may be without an adequate remedy at law.
Accordingly, in the event of any such violation, Indemnitee shall be entitled, if Indemnitee so
elects, to institute Proceedings, either in law or at equity, to obtain damages, to enforce
specific performance, to enjoin such violation, or to obtain any relief or any combination of the
foregoing as Indemnitee may elect to pursue.

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

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

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

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

-11-

 

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

	 	 	 	 	 
	 	GREEN DOT CORPORATION

 	 

	 	 	 
	 	By:  	 	 
	 	Its:  	 	 
	 	 	 	 
	 
	 	INDEMNITEE:

 	 
	 	
 	 
	 
	 	 	 
	Address: 	
 	 
	 	
 	 
	 	 	 

-12-exv10w02

Exhibit 10.02

GREEN DOT CORPORATION

SECOND AMENDED AND RESTATED 2001 STOCK PLAN

MARCH
31, 2010

 

Date of
Adoption of Stock Plan: January 30, 2001

Date of First Amendment to Stock Plan: February 15, 2008

Date of Second Amendment to Stock Plan: November 12, 2009

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page(s)	 
	SECTION 1.     Establishment And Purpose 
	 	 	1	 
	 
	SECTION 2.     Administration 
	 	 	1	 
	 
	(a) Committees of the Board of Directors 
	 	 	1	 
	 
	(b) Authority of the Board of Directors 
	 	 	1	 
	 
	SECTION 3.     Eligibility 
	 	 	1	 
	 
	(a) General Rule 
	 	 	1	 
	 
	(b) Ten-Percent Stockholders 
	 	 	1	 
	 
	SECTION 4.     Stock Subject To Plan 
	 	 	2	 
	 
	(a) Basic Limitation 
	 	 	2	 
	 
	(b) Additional Shares 
	 	 	2	 
	 
	SECTION 5.     Terms And Conditions Of Awards Or Sales 
	 	 	2	 
	 
	(a) Stock Purchase Agreement
	 	 	2	 
	 
	(b) Duration of Offers and Nontransferability of Rights 
	 	 	2	 
	 
	(c) Purchase Price 
	 	 	2	 
	 
	(d) Withholding Taxes 
	 	 	2	 
	 
	(e) Restrictions on Transfer of Shares and Minimum Vesting 
	 	 	2	 
	 
	(f) Accelerated Vesting
	 	 	3	 
	 
	SECTION 6.     Terms And Conditions Of Options 
	 	 	3	 
	 
	(a) Stock Option Agreement 
	 	 	3	 
	 
	(b) Number of Shares 
	 	 	3	 
	 
	(c) Exercise Price 
	 	 	3	 
	 
	(d) Withholding Taxes
	 	 	4	 
	 
	(e) Exercisability 
	 	 	4	 
	 
	(f) Accelerated Exercisability
	 	 	4	 
	 
	(g) Basic Term 
	 	 	4	 
	 
	(h) Nontransferability
	 	 	4	 
	 
	(i) Termination of Service (Except by Death)
	 	 	4	 
	 
	(j) Leaves of Absence
	 	 	5	 
	 
	(k) Death of Optionee
	 	 	5	 
	 
	(l) No Rights as a Stockholder
	 	 	5	 

-i-

 

TABLE OF CONTENTS

(continued)

	 	 	 	 	 
	 	 	Page(s)	 
	(m) Modification, Extension and Assumption of Options
	 	 	6	 
	 
	(n) Restrictions on Transfer of Shares and Minimum Vesting 
	 	 	6	 
	 
	SECTION 7.     Payment For Shares 
	 	 	6	 
	 
	(a) General Rule 
	 	 	6	 
	 
	(b) Surrender of Stock 
	 	 	6	 
	 
	(c) Services Rendered 
	 	 	6	 
	 
	(d) Promissory Note 
	 	 	6	 
	 
	(e) Exercise/Sale 
	 	 	7	 
	 
	(f) Exercise/Pledge 
	 	 	7	 
	 
	SECTION 8.     Adjustment Of Shares 
	 	 	7	 
	 
	(a) General 
	 	 	7	 
	 
	(b) Mergers and Consolidations 
	 	 	7	 
	 
	(c) Reservation of Rights 
	 	 	7	 
	 
	SECTION 9.     Securities Law Requirements 
	 	 	8	 
	 
	SECTION 10.   No Retention Rights 
	 	 	8	 
	 
	SECTION 11.   Duration and Amendments 
	 	 	8	 
	 
	(a) Term of the Plan 
	 	 	8	 
	 
	(b) Right to Amend or Terminate the Plan 
	 	 	8	 
	 
	(c) Effect of Amendment or Termination 
	 	 	8	 
	 
	SECTION 12.   Definitions 
	 	 	9	 
	 
	SECTION 13.   Execution 
	 	 	11	 

-ii-

 

GREEN DOT CORPORATION

AMENDED AND RESTATED 2001 STOCK PLAN

SECTION 1. Establishment And Purpose.

The purpose of the Plan is to offer selected individuals an opportunity to acquire a proprietary
interest in the success of the Company, or to increase such interest, by purchasing Shares of the
Company’s Stock. The Plan provides both for the direct award or sale of Shares and for the grant of
Options to purchase Shares. Options granted under the Plan may include Nonstatutory Options as well
as ISOs intended to qualify under Section 422 of the Code.

Capitalized terms are defined in Section 12.

SECTION 2. Administration.

	(a)	 	Committees of the Board of Directors. The Plan may be administered by one or more Committees.
Each Committee shall consist of two or more members of the Board of Directors who have been
appointed by the Board of Directors. Each Committee shall have such authority and be
responsible for such functions as the Board of Directors has assigned to it. If no Committee
has been appointed, the entire Board of Directors shall administer the Plan. Any reference to
the Board of Directors in the Plan shall be construed as a reference to the Committee (if any)
to whom the Board of Directors has assigned a particular function.

	(b)	 	Authority of the Board of Directors. Subject to the provisions of the Plan, the Board of
Directors shall have full authority and discretion to take any actions it deems necessary or
advisable for the administration of the Plan. All decisions, interpretations and other actions
of the Board of Directors shall be final and binding on all Purchasers, all Optionees and all
persons deriving their rights from a Purchaser or Optionee.

SECTION 3. Eligibility.

	(a)	 	General Rule. Only Employees, Outside Directors and Consultants shall be eligible for the
grant of Options or the direct award or sale of Shares. Only Employees shall be eligible for
the grant of ISOs.

	(b)	 	Ten-Percent Stockholders. In the case of an ISO, with respect to an individual who owns more
than 10% of the total combined voting power of all classes of outstanding stock of the
Company, its Parent or any of its Subsidiaries the Exercise Price of such ISO shall be at
least 110% of the Fair Market Value of a Share on the date of grant and such ISO shall not be
exercisable after the expiration of five years from the date of grant. For purposes of this
Subsection (b), in determining stock ownership, the attribution rules of Section 424(d) of the
Code shall be applied.

 

 

SECTION 4. Stock Subject To Plan

	(a)	 	Basic Limitation. Shares offered under the Plan shall be authorized but unissued Shares.
The aggregate number of Shares that may be issued under the Plan (upon exercise of Options or
other rights to acquire Shares) shall not exceed 11,208,384 Shares, subject to adjustment
pursuant to Section 8. The number of Shares that are subject to Options or other rights
outstanding at any time under the Plan shall not exceed the number of Shares that then remain
available for issuance under the Plan. The Company, during the term of the Plan, shall at all
times reserve and keep available sufficient Shares to satisfy the requirements of the Plan.

	(b)	 	Additional Shares. In the event that any outstanding Option or other right for any reason
expires or is canceled or otherwise terminated, the Shares allocable to the unexercised
portion of such Option or other right shall again be available for the purposes of the Plan.
In the event that Shares issued under the Plan are reacquired by the Company pursuant to any
forfeiture provision, right of repurchase or right of first refusal, such Shares shall again
be available for the purposes of the Plan, except that the aggregate number of Shares which
may be issued pursuant to Options intended to be ISOs shall in no event exceed 11,208,384
Shares (subject to adjustment pursuant to Section 8).

SECTION 5. Terms And Conditions Of Awards Or Sales.

	(a)	 	Stock Purchase Agreement. Each award or sale of Shares under the Plan (other than upon
exercise of an Option) shall be evidenced by a Stock Purchase Agreement between the Purchaser
and the Company. Such award or sale shall be subject to all applicable terms and conditions of
the Plan and may be subject to any other terms and conditions which are not inconsistent with
the Plan and which the Board of Directors deems appropriate for inclusion in a Stock Purchase
Agreement. The provisions of the various Stock Purchase Agreements entered into under the Plan
need not be identical.

	(b)	 	Duration of Offers and Nontransferability of Rights. Any right to acquire Shares under the
Plan (other than an Option) shall automatically expire if not exercised by the Purchaser
within 30 days after the grant of such right was communicated to the Purchaser by the Company.
Such right shall not be transferable and shall be exercisable only by the Purchaser to whom
such right was granted.

	(c)	 	Purchase Price. The Purchase Price of Shares to be offered under the Plan shall be determined
by the Board of Directors at its sole discretion. The Purchase Price shall be payable in a
form described in Section 7.

	(d)	 	Withholding Taxes. As a condition to the purchase of Shares, the Purchaser shall make such
arrangements as the Board of Directors may require for the satisfaction of any federal, state,
local or foreign withholding tax obligations that may arise in connection with such purchase.

 

 

	(e)	 	Restrictions on Transfer of Shares and Minimum Vesting. Any Shares awarded or sold under the
Plan shall be subject to such special forfeiture conditions, rights of repurchase, rights of
first refusal and other transfer restrictions as the Board of Directors may determine. Such
restrictions shall be set forth in the applicable Stock Purchase Agreement and shall apply in
addition to any restrictions that may apply to holders of Shares generally. In addition, the
applicable Stock Purchase Agreement may provide the Company an additional right to repurchase
the Purchaser’s Shares at a purchase price not less than the Fair Market Value of the Shares
on the date Purchaser’s Service terminates, and such right of repurchase shall terminate when
the Company’s securities become publicly traded. Any such rights of repurchase may be
exercised only within 90 days after the termination of the Purchaser’s Service for cash or for
cancellation of indebtedness incurred in purchasing the Shares.

	(f)	 	Accelerated Vesting. Unless the applicable Stock Purchase Agreement provides otherwise, any
right to repurchase a Purchaser’s Shares at the original Purchase Price (if any) upon
termination of the Purchaser’s Service shall lapse and all of such Shares shall become vested
if:

	 	(i)	 	The Company is subject to a Change in Control before the Purchaser’s Service
terminates; and
	 
	 	(ii)	 	Either (A) the repurchase right is not assigned to the entity that employs the
Purchaser immediately after the Change in Control or to its parent or subsidiary or (B)
the Purchaser is subject to an Involuntary Termination within 6 months following such
Change in Control.

SECTION 6. Terms And Conditions Of Options.

	(a)	 	Stock Option Agreement. Each grant of an Option under the Plan shall be evidenced by a Stock
Option Agreement between the Optionee and the Company. Such Option shall be subject to all
applicable terms and conditions of the Plan and may be subject to any other terms and
conditions which are not inconsistent with the Plan and which the Board of Directors deems
appropriate for inclusion in a Stock Option Agreement. The provisions of the various Stock
Option Agreements entered into under the Plan need not be identical.
	 
	(b)	 	Number of Shares. Each Stock Option Agreement shall specify the number of Shares that are
subject to the Option and shall provide for the adjustment of such number in accordance with
Section 8. The Stock Option Agreement shall also specify whether the Option is an ISO or a
Nonstatutory Option.
	 
	(c)	 	Exercise Price. Each Stock Option Agreement shall specify the Exercise Price. The Exercise
Price of an ISO shall not be less than 100% of the Fair Market Value of a Share on the date of
grant, and a higher percentage may be required by Section 3(b). The Exercise Price of a
Nonstatutory Option shall not be less than 100% of the Fair Market Value of a Share on the
date of grant. Subject to the preceding two sentences, the

 

 

	 	 	Exercise Price under any Option shall be determined by the Board of Directors at its sole
discretion. The Exercise Price shall be payable in a form described in Section 7.

	(d)	 	Withholding Taxes. As a condition to the exercise of an Option, the Optionee shall make such
arrangements as the Board of Directors may require for the satisfaction of any federal, state,
local or foreign withholding tax obligations that may arise in connection with such exercise.
The Optionee shall also make such arrangements as the Board of Directors may require for the
satisfaction of any federal, state, local or foreign withholding tax obligations that may
arise in connection with the disposition of Shares acquired by exercising an Option.
	 
	(e)	 	Exercisability. Each Stock Option Agreement shall specify the date when all or any
installment of the Option is to become exercisable. The exercisability provisions of any Stock
Option Agreement shall be determined by the Board of Directors at its sole discretion, and
unless otherwise determined by the Board of Directors, no Option shall be exercisable during
the first six months following the date of the option grant.
	 
	(f)	 	Accelerated Exercisability. Unless the applicable Stock Option Agreement provides otherwise
(including additional accelerating vesting provisions), all of an Optionee’s Options shall
become exercisable in full if:

	 	(i)	 	The Company is subject to a Change in Control before the Optionee’s Service
terminates; and
	 
	 	(ii)	 	Either (A) such Options do not remain outstanding, such Options are not assumed
by the surviving corporation or its parent, and the surviving corporation or its parent
does not substitute options with substantially the same terms for such Options or (B)
the Optionee is subject to an Involuntary Termination within 6 months following such
Change in Control.

	(g)	 	Basic Term. The Stock Option Agreement shall specify the term of the Option. The term shall
not exceed 10 years from the date of grant, and a shorter term may be required by Section
3(b). Subject to the preceding sentence, the Board of Directors at its sole discretion shall
determine when an Option is to expire.

	(h)	 	Nontransferability. No Option shall be transferable by the Optionee other than by
beneficiary designation, will or the laws of descent and distribution. An Option may be
exercised during the lifetime of the Optionee only by the Optionee or by the Optionee’s
guardian or legal representative. No Option or interest therein may be transferred, assigned,
pledged or hypothecated by the Optionee during the Optionee’s lifetime, whether by operation
of law or otherwise, or be made subject to execution, attachment or similar process.

	(i)	 	Termination of Service (Except by Death). Unless the applicable Stock Option Agreement
provides for a longer period of time, if an Optionee’s Service terminates for any reason other
than the Optionee’s death, then the Optionee’s Options shall expire on the earliest of the
following occasions:

 

 

	 	(i)	 	The expiration date determined pursuant to Subsection (g) above;
	 
	 	(ii)	 	The date three months after the termination of the Optionee’s Service for any
reason other than Disability, or such later date as the Board of Directors may
determine;
	 
	 	(iii)	 	The date six months after the termination of the Optionee’s Service by reason
of Disability, or such later date as the Board of Directors may determine; or
	 
	 	(iv)	 	The date of the termination of the Optionee’s Service for Cause, or such later
date as the Board of Directors may determine.

	 	 	The Optionee may exercise all or part of the Optionee’s Options at any time before the
expiration of such Options under the preceding sentence, but only to the extent that such
Options had become exercisable before the Optionee’s Service terminated (or became
exercisable as a result of the termination) and the underlying Shares had vested before the
Optionee’s Service terminated (or vested as a result of the termination). The balance of
such Options shall lapse when the Optionee’s Service terminates. In the event that the
Optionee dies after the termination of the Optionee’s Service but before the expiration of
the Optionee’s Options, all or part of such Options may be exercised (prior to expiration)
by the executors or administrators of the Optionee’s estate or by any person who has
acquired such Options directly from the Optionee by beneficiary designation, bequest or
inheritance, but only to the extent that such Options had become exercisable before the
Optionee’s Service terminated (or became exercisable as a result of the termination) and the
underlying Shares had vested before the Optionee’s Service terminated (or vested as a result
of the termination).

	(j)	 	Leaves of Absence. For purposes of Subsection (i) above, Service shall be deemed to continue
while the Optionee is on a bona fide leave of absence, if such leave was approved by the
Company in writing and if continued crediting of Service for this purpose is expressly
required by the terms of such leave or by applicable law (as determined by the Company).

	(k)	 	Death of Optionee. If an Optionee dies while the Optionee is in Service, unless the
applicable Stock Option Agreement provides for a longer period of time, then the Optionee’s
Options shall expire on the earlier of the following dates:

	 	(i)	 	The expiration date determined pursuant to Subsection(g) above; or
	 
	 	(ii)	 	The date 12 months after the Optionee’s death.

	 	 	All or part of the Optionee’s Options may be exercised at any time before the expiration of
such Options under the preceding sentence by the executors or administrators of the
Optionee’s estate or by any person who has acquired such Options directly from the Optionee
by beneficiary designation, bequest or inheritance, but only to the extent that

 

 

	 	 	such Options had become exercisable before the Optionee’s death or became exercisable as a
result of the death. The balance of such Options shall lapse when the Optionee dies.

	(l)	 	No Rights as a Stockholder. An Optionee, or a transferee of an Optionee, shall have no
rights as a stockholder with respect to any Shares covered by the Optionee’s Option until such
person becomes entitled to receive such Shares by filing a notice of exercise and paying the
Exercise Price pursuant to the terms of such Option.
	 
	(m)	 	Modification, Extension and Assumption of Options. Within the limitations of the Plan, the
Board of Directors may modify, extend or assume outstanding Options or may accept the
cancellation of outstanding Options (whether granted by the Company or another issuer) in
return for the grant of new Options for the same or a different number of Shares and at the
same or a different Exercise Price. The foregoing notwithstanding, no modification of an
Option shall, without the consent of the Optionee, impair the Optionee’s rights or increase
the Optionee’s obligations under such Option.
	 
	(n)	 	Restrictions on Transfer of Shares and Minimum Vesting. Any Shares issued upon exercise of an
Option shall be subject to such special forfeiture conditions, rights of repurchase, rights of
first refusal and other transfer restrictions as the Board of Directors may determine. Such
restrictions shall be set forth in the applicable Stock Option Agreement and shall apply in
addition to any restrictions that may apply to holders of Shares generally.

SECTION 7. Payment For Shares.

	(a)	 	General Rule. The entire Purchase Price or Exercise Price of Shares issued under the Plan
shall be payable in cash or cash equivalents at the time when such Shares are purchased,
except as otherwise provided in this Section 7.
	 
	(b)	 	Surrender of Stock. To the extent that a Stock Option Agreement so provides, all or any part
of the Exercise Price may be paid by surrendering, or attesting to the ownership of, Shares
that are already owned by the Optionee. Such Shares shall be surrendered to the Company in
good form for transfer and shall be valued at their Fair Market Value on the date when the
Option is exercised. The Optionee shall not surrender, or attest to the ownership of, Shares
in payment of the Exercise Price if such action would cause the Company to recognize
compensation expense (or additional compensation expense) with respect to the Option for
financial reporting purposes.
	 
	(c)	 	Services Rendered. At the discretion of the Board of Directors, Shares may be awarded under
the Plan in consideration of services rendered to the Company, a Parent or a Subsidiary prior
to the award.
	 
	(d)	 	Promissory Note. To the extent that a Stock Option Agreement or Stock Purchase Agreement so
provides, all or a portion of the Exercise Price or Purchase Price (as the case may be) of
Shares issued under the Plan, other than the par value of such Shares, which must be paid in
cash or cash equivalents, may be paid with a full-recourse

 

 

	 	 	promissory note. The Shares shall be pledged as security for payment of the principal amount
of the promissory note and interest thereon. The interest rate payable under the terms of
the promissory note shall not be less than the minimum rate (if any) required to avoid the
imputation of additional interest under the Code. Subject to the foregoing, the Board of
Directors (at its sole discretion) shall specify the term, interest rate, amortization
requirements (if any) and other provisions of such note.

	(e)	 	Exercise/Sale. To the extent that a Stock Option Agreement so provides, and if Stock is
publicly traded, payment may be made all or in part by the delivery (on a form prescribed by
the Company) of an irrevocable direction to a securities broker approved by the Company to
sell Shares and to deliver all or part of the sales proceeds to the Company in payment of all
or part of the Exercise Price and any withholding taxes.
	 
	(f)	 	Exercise/Pledge. To the extent that a Stock Option Agreement so provides, and if Stock is
publicly traded, payment may be made all or in part by the delivery (on a form prescribed by
the Company) of an irrevocable direction to pledge Shares to a securities broker or lender
approved by the Company, as security for a loan, and to deliver all or part of the loan
proceeds to the Company in payment of all or part of the Exercise Price and any withholding
taxes.

SECTION 8. Adjustment Of Shares.

	(a)	 	General. In the event of a subdivision of the outstanding Stock, a declaration of a dividend
payable in Shares, a declaration of an extraordinary dividend payable in a form other than
Shares in an amount that has a material effect on the Fair Market Value of the Stock, a
combination or consolidation of the outstanding Stock into a lesser number of Shares, a
recapitalization, a spin-off, a reclassification or a similar occurrence, the Board of
Directors shall make appropriate adjustments in one or more of (i) the number of Shares
available for future grants under Section 4, (ii) the number of Shares covered by each
outstanding Option or (iii) the Exercise Price under each outstanding Option.

	(b)	 	Mergers and Consolidations. In the event that the Company is a party to a merger or
consolidation, outstanding Options shall be subject to the agreement of merger or
consolidation. Such agreement, without the Optionees’ consent, may provide for:

	 	(i)	 	The continuation of such outstanding Options by the Company (if the Company is
the surviving corporation);
	 
	 	(ii)	 	The assumption of the Plan and such outstanding Options by the surviving
corporation or its parent;
	 
	 	(iii)	 	The substitution by the surviving corporation or its parent of options with
substantially the same terms for such outstanding Options;
	 
	 	(iv)	 	The cancellation of each outstanding Option after payment to the Optionee of an
amount in cash or cash equivalents equal to (a) the Fair Market Value of the

 

 

	 	 	 	Shares subject to such Option at the time of the merger or consolidation minus (b)
the Exercise Price of the Shares subject to such Option; or

	 	(v)	 	The cancellation of such outstanding Option without payment of any
consideration.

	(c)	 	Reservation of Rights. Except as provided in this Section 8, an Optionee or Purchaser shall
have no rights by reason of (i) any subdivision or consolidation of shares of stock of any
class, (ii) the payment of any dividend or (iii) any other increase or decrease in the number
of shares of stock of any class. Any issuance by the Company of shares of stock of any class,
or securities convertible into shares of stock of any class, shall not affect, and no
adjustment by reason thereof shall be made with respect to, the number or Exercise Price of
Shares subject to an Option. The grant of an Option pursuant to the Plan shall not affect in
any way the right or power of the Company to make adjustments, reclassifications,
reorganizations or changes of its capital or business structure, to merge or consolidate or to
dissolve, liquidate, sell or transfer all or any part of its business or assets.

SECTION 9. Securities Law Requirements.

Shares shall not be issued under the Plan unless the issuance and delivery of such Shares comply
with (or are exempt from) all applicable requirements of law, including (without limitation) the
Securities Act of 1933, as amended, the rules and regulations promulgated thereunder, state
securities laws and regulations, and the regulations of any stock exchange or other securities
market on which the Company’s securities may then be traded.

SECTION 10. No Retention Rights.

Nothing in the Plan or in any right or Option granted under the Plan shall confer upon the
Purchaser or 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 Company (or any Parent or
Subsidiary employing or retaining the Purchaser or Optionee) or of the Purchaser or Optionee, which
rights are hereby expressly reserved by each, to terminate his or her Service at any time and for
any reason, with or without cause.

SECTION 11. Duration and Amendments.

	(a)	 	Term of the Plan. The Plan, as set forth herein, shall become effective on the date of its
adoption by the Board of Directors, subject to the approval of the Company’s stockholders. In
the event that the stockholders fail to approve the Plan within 12 months after its adoption
by the Board of Directors, any grants of Options or sales or awards of Shares that have
already occurred shall be rescinded, and no additional grants, sales or awards shall be made
thereafter under the Plan. The Plan shall terminate automatically 10 years after its adoption
by the Board of Directors and may be terminated on any earlier date pursuant to Subsection (b)
below.

 

 

	(b)	 	Right to Amend or Terminate the Plan. The Board of Directors may amend, suspend or terminate
the Plan at any time and for any reason; provided, however, that any amendment of the Plan
which increases the number of Shares available for issuance under the Plan (except as provided
in Section 8), or which materially changes the class of persons who are eligible for the grant
of ISOs, shall be subject to the approval of the Company’s stockholders. Stockholder approval
shall not be required for any other amendment of the Plan.
	 
	(c)	 	Effect of Amendment or Termination. No Shares shall be issued or sold under the Plan after
the termination thereof, except upon exercise of an Option granted prior to such termination.
The termination of the Plan, or any amendment thereof, shall not affect any Share previously
issued or any Option previously granted under the Plan.

SECTION 12. Definitions.

	(a)	 	“Board of Directors” shall mean the Board of Directors of the Company, as constituted from
time to time.
	 
	(b)	 	“Cause” shall mean (i) the unauthorized use or disclosure of the confidential information or
trade secrets of the Company, which use or disclosure causes material harm to the Company,
(ii) conviction of, or a plea of “guilty” or “no contest” to, a felony under the laws of the
United States or any state thereof, (iii) gross negligence or (iv) continued failure to
perform assigned duties after receiving written notification from the Board of Directors. The
foregoing, however, shall not be deemed an exclusive list of all acts or omissions that the
Company (or a Parent or Subsidiary) may consider as grounds for the discharge of an Optionee
or Purchaser.
	 
	(c)	 	“Change in Control” shall mean the sale, conveyance, disposal, or encumbrance of all or
substantially all of the Company’s property or business or the Company’s merger into or
consolidation with any other corporation where the stockholders of the Company immediately
prior to such merger or consolidation own less than fifty percent (50%) of such corporation,
directly or indirectly, after such merger or consolidation or if the Company effects any other
transaction or series of related transactions in which more than fifty percent (50%) of the
voting power of the Company is transferred. A transaction shall not constitute a Change in
Control if its sole purpose is to change the state of the Company’s incorporation or to create
a holding company that will be owned in substantially the same proportions by the persons who
held the Company’s securities immediately before such transaction.
	 
	(d)	 	“Code” shall mean the Internal Revenue Code of 1986, as amended.
	 
	(e)	 	“Committee” shall mean a committee of the Board of Directors, as described in Section 2(a).
	 
	(f)	 	“Company” shall mean Green Dot Corporation, a Delaware corporation.

 

 

	(g)	 	“Consultant” shall mean a person who performs bona fide services for the Company, a Parent or
a Subsidiary as a consultant or advisor, excluding Employees and Outside Directors.
	 
	(h)	 	“Disability” shall mean that the Optionee or Purchaser is unable to engage in any substantial
gainful activity by reason of any medically determinable physical or mental impairment.
	 
	(i)	 	“Employee” shall mean any individual who is a common-law employee of the Company, a Parent or
a Subsidiary.
	 
	(j)	 	“Exercise Price” shall mean the amount for which one Share may be purchased upon exercise of
an Option, as specified by the Board of Directors in the applicable Stock Option Agreement.
	 
	(k)	 	“Fair Market Value” shall mean the fair market value of a Share, as determined by the Board
of Directors in good faith. Such determination shall be conclusive and binding on all persons.
Notwithstanding the foregoing, Fair Market Value shall at all times be determined in
accordance with the requirements of Section 409A of the Code and the regulations and guidance
issued thereunder.
	 
	(l)	 	“Involuntary Termination” shall mean the termination of the Optionee’s or Purchaser’s Service
by reason of:

	 	(i)	 	The involuntary discharge of the Optionee or Purchaser by the Company (or the
Parent or Subsidiary employing him or her) for reasons other than Cause; or
	 
	 	(ii)	 	The voluntary resignation of the Optionee or Purchaser following (A) a change
in his or her position with the Company (or the Parent or Subsidiary employing him or
her) that materially reduces his or her level of authority or responsibility or (B) a
reduction in his or her compensation (including base salary, fringe benefits and
participation in bonus or incentive programs based on corporate performance) by more
than 10%.

	(m)	 	“ISO” shall mean an employee incentive stock option described in Section 422(b) of the Code.
	 
	(n)	 	“Nonstatutory Option” shall mean a stock option not described in Sections 422(b) or 423(b) of
the Code.
	 
	(o)	 	“Option” shall mean an ISO or Nonstatutory Option granted under the Plan and entitling the
holder to purchase Shares.
	 
	(p)	 	“Optionee” shall mean an individual who holds an Option.

 

 

	(q)	 	“Outside Director” shall mean a member of the Board of Directors who is not an Employee.
	 
	(r)	 	“Parent” shall mean any corporation (other than the Company) in an unbroken chain of
corporations ending with the Company, if each of the corporations other than the Company owns
stock possessing 50% or more of the total combined voting power of all classes of stock in one
of the other corporations in such chain. A corporation that attains the status of a Parent on
a date after the adoption of the Plan shall be considered a Parent commencing as of such date.
	 
	(s)	 	“Plan” shall mean this Green Dot Corporation First Amended and Restated 2001 Stock Plan.
	 
	(t)	 	“Purchase Price” shall mean the consideration for which one Share may be acquired under the
Plan (other than upon exercise of an Option), as specified by the Board of Directors.
	 
	(u)	 	“Purchaser” shall mean an individual to whom the Board of Directors has offered the right to
acquire Shares under the Plan (other than upon exercise of an Option).
	 
	(v)	 	“Retirement” shall mean that the Optionee or Purchaser has given up his or her employment in
the Company.
	 
	(w)	 	“Service” shall mean service as an Employee, Outside Director or Consultant.
	 
	(x)	 	“Share” shall mean one share of Stock, as adjusted in accordance with Section 8 (if
applicable).
	 
	(y)	 	“Stock” shall mean the Class B Common Stock of the Company.
	 
	(z)	 	“Stock Option Agreement” shall mean the agreement between the Company and an Optionee which
contains the terms, conditions and restrictions pertaining to the Optionee’s Option.
	 
	(aa)	 	“Stock Purchase Agreement” shall mean the agreement between the Company and a Purchaser who
acquires Shares under the Plan which contains the terms, conditions and restrictions
pertaining to the acquisition of such Shares.
	 
	(bb)	 	“Subsidiary” means any corporation (other than the Company) in an unbroken chain of
corporations beginning with the Company, if each of the corporations other than the last
corporation in the unbroken chain owns stock possessing 50% or more of the total combined
voting power of all classes of stock in one of the other corporations in such chain. A
corporation that attains the status of a Subsidiary on a date after the adoption of the Plan
shall be considered a Subsidiary commencing as of such date.

 

 

SECTION 13. Execution.

To record the adoption of the Plan by the Board of Directors, the Company has caused its authorized
officer to execute the same.

GREEN DOT

CORPORATION

a Delaware corporation

	 
	  /s/ Steve Streit
 	 
	By:   Steve Streit 	 
	Its:    President 	 

 

 

	 	 	 	 	 

THE OPTION GRANTED PURSUANT TO THIS AGREEMENT AND THE SHARES ISSUABLE UPON THE EXERCISE THEREOF
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD,
PLEDGED, OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION THEREOF UNDER SUCH ACT OR AN
OPINION OF COUNSEL, SATISFACTORY TO THE COMPANY AND ITS COUNSEL, THAT SUCH REGISTRATION IS NOT
REQUIRED.

GREEN DOT CORPORATION

SECOND AMENDED AND RESTATED 2001 STOCK PLAN:

STOCK OPTION AGREEMENT

SECTION 1. Grant Of Option.

	(a)	 	Option. On the terms and conditions set forth in the Notice of Stock Option Grant and this
Agreement, the Company grants to the Optionee on the Date of Grant the option to purchase at
the Exercise Price the number of Shares set forth in the Notice of Stock Option Grant. The
Exercise Price is agreed to be at least 100% of the Fair Market Value per Share on the Date of
Grant (110% of Fair Market Value if Section 3(b) of the Plan applies). This option is intended
to be an ISO or a Nonstatutory Option, as provided in the Notice of Stock Option Grant.
	 
	(b)	 	Stock Plan and Defined Terms. This option is granted pursuant to the Plan, a copy of which
the Optionee acknowledges having received. The provisions of the Plan are incorporated into
this Agreement by this reference. Capitalized terms are defined in Section 13 of this
Agreement.

SECTION 2. Right To Exercise.

	(a)	 	Exercisability. Subject to Subsection (b) below and the other conditions set forth in this
Agreement, all or part of this option may be exercised prior to its expiration at the time or
times set forth in the Notice of Stock Option Grant. This option shall become exercisable in
full if (i) the Company is subject to a Change in Control before the Optionee’s Service
terminates, and either (A) such Options do not remain outstanding, such Options are not
assumed by the surviving corporation or its parent, and the surviving corporation or its
parent does not substitute options with substantially the same terms for such Options or (B)
the Optionee is subject to an Involuntary Termination within 6 months following such Change in
Control.

	(b)	 	Stockholder Approval. Any other provision of this Agreement notwithstanding, no portion of
this option shall be exercisable at any time prior to the approval of the Plan by the
Company’s stockholders.

 

 

SECTION 3. No Transfer Or Assignment Of Option.

Except as otherwise provided in this Agreement, this option and the rights and privileges conferred
hereby shall not be sold, pledged or otherwise transferred (whether by operation of law or
otherwise) and shall not be subject to sale under execution, attachment, levy or similar process.

SECTION 4. Exercise Procedures.

	(a)	 	Notice of Exercise. The Optionee or the Optionee’s representative may exercise this option by
giving written notice to the Company pursuant to Section 12(d). The notice shall specify the
election to exercise this option, the number of Shares for which it is being exercised and the
form of payment. The notice shall be signed by the person exercising this option. In the event
that this option is being exercised by the representative of the Optionee, the notice shall be
accompanied by proof (satisfactory to the Company) of the representative’s right to exercise
this option. The Optionee or the Optionee’s representative shall deliver to the Company, at
the time of giving the notice, payment in a form permissible under Section 5 for the full
amount of the Purchase Price.
	 
	(b)	 	Issuance of Shares. After receiving a proper notice of exercise, the Company shall cause to
be issued a certificate or certificates for the Shares as to which this option has been
exercised, registered in the name of the person exercising this option (or in the names of
such person and his or her spouse as community property or as joint tenants with right of
survivorship). The Company shall cause such certificate or certificates to be deposited in
escrow or delivered to or upon the order of the person exercising this option.
	 
	(c)	 	Withholding Taxes. In the event that the Company determines that it is required to withhold
any tax as a result of the exercise of this option, the Optionee, as a condition to the
exercise of this option, shall make arrangements satisfactory to the Company to enable it to
satisfy all withholding requirements. The Optionee shall also make arrangements satisfactory
to the Company to enable it to satisfy any withholding requirements that may arise in
connection with the vesting or disposition of Shares purchased by exercising this option.

SECTION 5. Payment For Stock.

	(a)	 	Cash. All or part of the Purchase Price may be paid in cash or cash equivalents.
	 
	(b)	 	Surrender of Stock. With the consent of the Board of Directors, all or any part of the
Purchase Price may be paid by surrendering, or attesting to the ownership of, Shares that are
already owned by the Optionee. Such Shares shall be surrendered to the Company in good form
for transfer and shall be valued at their Fair Market Value on the date when this option is
exercised. The Optionee shall not surrender, or attest to the ownership of, Shares in payment
of the Purchase Price if such action would cause the Company to recognize compensation expense
(or additional compensation expense) with respect to this option for financial reporting
purposes.

 

 

	(c)	 	Exercise/Sale. If Stock is publicly traded, all or part of the Purchase Price and any
withholding taxes may be paid by the delivery (on a form prescribed by the Company) of an
irrevocable direction to a securities broker approved by the Company to sell Shares and to
deliver all or part of the sales proceeds to the Company.

	(d)	 	Exercise/Pledge. If Stock is publicly traded, all or part of the Purchase Price and any
withholding taxes may be paid by the delivery (on a form prescribed by the Company) of an
irrevocable direction to pledge Shares to a securities broker or lender approved by the
Company, as security for a loan, and to deliver all or part of the loan proceeds to the
Company.

	(e)	 	Promissory Note. With the consent of the Board of Directors, all or part of the Purchase
Price, other than the par value of any Shares, which must be paid in cash or cash equivalents,
may be paid with a full-recourse promissory note. The Shares shall be pledged as security for
payment of the principal amount of the promissory note and interest thereon. The interest rate
payable under the terms of the promissory note shall not be less than the minimum rate (if
any) required to avoid the imputation of additional interest under the Code. Subject to the
foregoing, the Board of Directors (at its sole discretion) shall specify the term, interest
rate, amortization requirements (if any) and other provisions of such note.

SECTION 6. Term And Expiration.

	(a)	 	Basic Term. This option shall in any event expire on the expiration date set forth in the
Notice of Stock Option Grant, which date is 10 years after the Date of Grant (five years after
the Date of Grant if this option is designated as an ISO in the Notice of Stock Option Grant
and Section 3(b) of the Plan applies).
	 
	(b)	 	Termination of Service. (Except by Death). If the Optionee’s Service terminates for any
reason other than death, then this option shall expire on the earliest of the following
occasions:

	 	(i)	 	The expiration date determined pursuant to Subsection (a) above;
	 
	 	(ii)	 	The date three months after the termination of the Optionee’s Service for any
reason other than Disability;
	 
	 	(iii)	 	The date six months after the termination of the Optionee’s Service by reason
of Disability; or
	 
	 	(iv)	 	The date of the termination of the Optionee’s Service for Cause.

The Optionee may exercise all or part of this option at any time before its expiration under the
preceding sentence, but only to the extent that this option had become exercisable before the
Optionee’s Service terminated. When the Optionee’s Service terminates, this option shall expire
immediately with respect to the number of Shares for which this option is not yet exercisable. In
the event that the Optionee dies after termination of Service but before the expiration of this

 

 

option, all or part of this option may be exercised (prior to expiration) by the executors or
administrators of the Optionee’s estate or by any person who has acquired this option directly from
the Optionee by beneficiary designation, bequest or inheritance, but only to the extent that this
option had become exercisable before the Optionee’s Service terminated.

	(c)	 	Death of the Optionee. If the Optionee dies while in Service, then this option shall expire
on the earlier of the following dates:

	 	(i)	 	The expiration date determined pursuant to Subsection (a) above; or
	 
	 	(ii)	 	The date 12 months after the Optionee’s death.

All or part of this option may be exercised at any time before its expiration under the
preceding sentence by the executors or administrators of the Optionee’s estate or by any person who
has acquired this option directly from the Optionee by beneficiary designation, bequest or
inheritance, but only to the extent that this option had become exercisable before the Optionee’s
death. When the Optionee dies, this option shall expire immediately with respect to the number of
Shares for which this option is not yet exercisable.

	(d)	 	Leaves of Absence. For any purpose under this Agreement, Service shall be deemed to
continue while the Optionee is on a bona fide leave of absence, if such leave was approved by
the Company in writing and if continued crediting of Service for such purpose is expressly
required by the terms of such leave or by applicable law (as determined by the Company).
	 
	(e)	 	Notice Concerning ISO Treatment. If this option is designated as an ISO in the Notice of
Stock Option Grant, it ceases to qualify for favorable tax treatment as an ISO to the extent
it is exercised (i) more than three months after the date the Optionee ceases to be an
Employee for any reason other than death or permanent and total disability (as defined in
Section 22 (e)(3) of the Code), (ii) more than 12 months after the date the Optionee ceases to
be an Employee by reason of such permanent and total disability or (iii) after the Optionee
has been on a leave of absence for more than 90 days, unless the Optionee’s reemployment
rights are guaranteed by statute or by contract.

SECTION 7. Right Of First Refusal.

	(a)	 	Right of First Refusal. In the event that the Optionee proposes to sell, pledge or otherwise
transfer to a third party any Shares acquired under this Agreement, or any interest in such
Shares, the Company shall have the Right of First Refusal with respect to all (and not less
than all) of such Shares. If the Optionee desires to transfer Shares acquired under this
Agreement, the Optionee shall give a written Transfer Notice to the Company describing fully
the proposed transfer, including the number of Shares proposed to be transferred, the proposed
transfer price, the name and address of the proposed Transferee and proof satisfactory to the
Company that the proposed sale or transfer will not violate any applicable federal or state
securities laws. The Transfer Notice shall be signed both by the Optionee and by the proposed
Transferee and must constitute a binding commitment of both parties to the transfer of the
Shares. The Company shall have the right to purchase all, and not less than all, of the Shares
on the terms of the proposal described in the Transfer Notice (subject, however, to any change
in such terms permitted under Subsection (b) below) by delivery of a notice of exercise of the
Right of First Refusal within 30 days after the date when the Transfer Notice was
received by the Company. The Company’s rights under this Subsection (a) shall be freely
assignable, in whole or in part.

 

 

	(b)	 	Transfer of Shares. If the Company fails to exercise its Right of First Refusal within 30
days after the date when it received the Transfer Notice, the Optionee may, not later than 90
days following receipt of the Transfer Notice by the Company, conclude a transfer of the
Shares subject to the Transfer Notice on the terms and conditions described in the Transfer
Notice, provided that any such sale is made in compliance with applicable federal and state
securities laws and not in violation of any other contractual restrictions to which the
Optionee is bound. Any proposed transfer on terms and conditions different from those
described in the Transfer Notice, as well as any subsequent proposed transfer by the Optionee,
shall again be subject to the Right of First Refusal and shall require compliance with the
procedure described in Subsection (a) above. If the Company exercises its Right of First
Refusal, the parties shall consummate the sale of the Shares on the terms set forth in the
Transfer Notice within 60 days after the date when the Company received the Transfer Notice
(or within such longer period as may have been specified in the Transfer Notice); provided,
however, that in the event the Transfer Notice provided that payment for the Shares was to be
made in a form other than cash or cash equivalents paid at the time of transfer, the Company
shall have the option of paying for the Shares with cash or cash equivalents equal to the
present value of the consideration described in the Transfer Notice.

	(c)	 	Additional Shares or Substituted Securities. In the event of the declaration of a stock
dividend, the declaration of an extraordinary dividend payable in a form other than stock, a
spin-off, a stock split, an adjustment in conversion ratio, a recapitalization or a similar
transaction affecting the Company’s outstanding securities without receipt of consideration,
any new, substituted or additional securities or other property (including money paid other
than as an ordinary cash dividend) which are by reason of such transaction distributed with
respect to any Shares subject to this Section 7 or into which such Shares thereby become
convertible shall immediately be subject to this Section 7. Appropriate adjustments to reflect
the distribution of such securities or property shall be made to the number and/or class of
the Shares subject to this Section 7.

	(d)	 	Termination of Right of First Refusal. Any other provision of this Section 7 notwithstanding,
in the event that the Stock is readily tradable on an established securities market when the
Optionee desires to transfer Shares, the Company shall have no Right of First Refusal, and the
Optionee shall have no obligation to comply with the procedures prescribed by Subsections (a)
and (b) above.

	(e)	 	Permitted Transfers. This Section 7 shall not apply to (i) a transfer by beneficiary
designation, will or intestate succession or (ii) a transfer to the Optionee’s spouse,
children or to a trust established by the Optionee for the benefit of the Optionee or the
Optionee’s spouse, children or grandchildren, provided in either case that the Transferee
agrees in writing on a form prescribed by the Company to be bound by all provisions of this
Agreement. If the Optionee transfers any Shares acquired under this Agreement, either under
this Subsection (e) or after the Company has failed to exercise the Right of
First Refusal, then this Section 7 shall apply to the Transferee to the same extent as to
the Optionee.

 

 

	(f)	 	Termination of Rights as Stockholder. If the Company makes available, at the time and place
and in the amount and form provided in this Agreement, the consideration for the Shares to be
purchased in accordance with this Section 7, then after such time the person from whom such
Shares are to be purchased shall no longer have any rights as a holder of such Shares (other
than the right to receive payment of such consideration in accordance with this Agreement).
Such Shares shall be deemed to have been purchased in accordance with the applicable
provisions hereof, whether or not the certificate(s) therefor have been delivered as required
by this Agreement.

SECTION 8. Legality Of Initial Issuance.

No Shares shall be issued upon the exercise of this option unless and until the Company has
determined that:

	 	(a)	 	It and the Optionee have taken any actions required to register the Shares
under the Securities Act or to perfect an exemption from the registration requirements
thereof;
	 
	 	(b)	 	Any applicable listing requirement of any stock exchange or other securities
market on which Stock is listed has been satisfied; and
	 
	 	(c)	 	Any other applicable provision of state or federal law has been satisfied.

SECTION 9. No Registration Rights.

The Company may, but shall not be obligated to, register or qualify the sale of Shares under the
Securities Act or any other applicable law. The Company shall not be obligated to take any
affirmative action in order to cause the sale of Shares under this Agreement to comply with any
law.

SECTION 10. Restrictions On Transfer.

	(a)	 	Securities Law Restrictions. Regardless of whether the offering and sale of Shares under the
Plan have been registered under the Securities Act or have been registered or qualified under
the securities laws of any state, the Company at its discretion may impose restrictions upon
the sale, pledge or other transfer of such Shares (including the placement of appropriate
legends on stock certificates or the imposition of stop-transfer instructions) if, in the
judgment of the Company, such restrictions are necessary or desirable in order to achieve
compliance with the Securities Act, the securities laws of any state or any other law.

 

 

	(b)	 	Market Stand-Off. In connection with any underwritten public offering by the Company of its
equity securities pursuant to an effective registration statement filed under the Securities
Act, including the Company’s initial public offering, the Optionee shall not directly or
indirectly sell, make any short sale of, loan, hypothecate, pledge, offer, grant or sell any
option or other contract for the purchase of, purchase any option or other contract for the
sale of, or otherwise dispose of or transfer, or agree to engage in any of the foregoing
transactions with respect to, any Shares acquired under this Agreement without the prior
written consent of the Company or its underwriters. Such restriction (the “Market Stand-Off”)
shall be in effect for such period of time following the date of the final prospectus for the
offering as may be requested by the Company or such underwriters. In no event, however, shall
such period exceed 180 days. The Market Stand-Off shall in any event terminate two years after
the date of the Company’s initial public offering. In the event of the declaration of a stock
dividend, a spin-off, a stock split, an adjustment in conversion ratio, a recapitalization or
a similar transaction affecting the Company’s outstanding securities without receipt of
consideration, any new, substituted or additional securities which are by reason of such
transaction distributed with respect to any Shares subject to the Market Stand-Off, or into
which such Shares thereby become convertible, shall immediately be subject to the Market
Stand-Off. In order to enforce the Market Stand-Off, the Company may impose stop-transfer
instructions with respect to the Shares acquired under this Agreement until the end of the
applicable stand-off period. The Company’s underwriters shall be beneficiaries of the
agreement set forth in this Subsection (b). This Subsection (b) shall not apply to Shares
registered in the public offering under the Securities Act, and the Optionee shall be subject
to this Subsection (b) only if the directors and officers of the Company are subject to
similar arrangements.

	(c)	 	Investment Intent at Grant. The Optionee represents and agrees that the Shares to be acquired
upon exercising this option will be acquired for investment, and not with a view to the sale
or distribution thereof.
	 
	(d)	 	Investment Intent at Exercise. In the event that the sale of Shares under the Plan is not
registered under the Securities Act but an exemption is available which requires an investment
representation or other representation, the Optionee shall represent and agree at the time of
exercise that the Shares being acquired upon exercising this option are being acquired for
investment, and not with a view to the sale or distribution thereof, and shall make such other
representations as are deemed necessary or appropriate by the Company and its counsel.
	 
	(e)	 	Legends. All certificates evidencing Shares purchased under this Agreement shall bear the
following legend:
	 
	 	 	“THE SHARES REPRESENTED HEREBY MAY NOT BE SOLD, ASSIGNED, TRANSFERRED, ENCUMBERED OR IN ANY
MANNER DISPOSED OF, EXCEPT IN COMPLIANCE WITH THE TERMS OF A WRITTEN AGREEMENT BETWEEN THE
COMPANY AND THE REGISTERED HOLDER OF THE SHARES (OR THE PREDECESSOR IN INTEREST TO THE
SHARES). SUCH AGREEMENT GRANTS

 

 

	 	 	TO THE COMPANY CERTAIN RIGHTS OF FIRST REFUSAL UPON AN ATTEMPTED TRANSFER OF THE SHARES. THE
SECRETARY OF THE COMPANY WILL UPON WRITTEN REQUEST FURNISH A COPY OF SUCH AGREEMENT TO THE
HOLDER HEREOF WITHOUT CHARGE.”

	 	 	All certificates evidencing Shares purchased under this Agreement in an unregistered
transaction shall bear the following legend (and such other restrictive legends as are
required or deemed advisable under the provisions of any applicable law):
	 
	 	 	“THE SHARES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, AND MAY NOT BE SOLD, PLEDGED, OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE
REGISTRATION THEREOF UNDER SUCH ACT OR AN OPINION OF COUNSEL, SATISFACTORY TO THE COMPANY
AND ITS COUNSEL, THAT SUCH REGISTRATION IS NOT REQUIRED.”

	(f)	 	Removal of Legends. If, in the opinion of the Company and its counsel, any legend placed on a
stock certificate representing Shares sold under this Agreement is no longer required, the
holder of such certificate shall be entitled to exchange such certificate for a certificate
representing the same number of Shares but without such legend.
	 
	(g)	 	Administration. Any determination by the Company and its counsel in connection with any of
the matters set forth in this Section 10 shall be conclusive and binding on the Optionee and
all other persons.

SECTION 11. Adjustment Of Shares.

In the event of any transaction described in Section 8(a) of the Plan, the terms of this
option (including, without limitation, the number and kind of Shares subject to this option and the
Exercise Price) shall be adjusted as set forth in Section 8(a) of the Plan. In the event that the
Company is a party to a merger or consolidation, this option shall be subject to the agreement of
merger or consolidation, as provided in Section 8(b) of the Plan.

SECTION 12. Miscellaneous Provisions.

	(a)	 	Rights as a Stockholder. Neither the Optionee nor the Optionee’s representative shall have
any rights as a Stockholder with respect to any Shares subject to this option until the
Optionee or the Optionee’s representative becomes entitled to receive such Shares by filing a
notice of exercise and paying the Purchase Price pursuant to Sections 4 and 5.
	 
	(b)	 	No Retention Rights. Nothing in this option or in the Plan shall confer upon the 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 Company (or any Parent or Subsidiary employing
or retaining the Optionee) or of the Optionee, which rights are hereby expressly reserved by
each, to terminate his or her Service at any time and for any reason, with or without Cause.

 

 

	(c)	 	Proprietary Information. Optionee agrees that all financial and other information relating
to the Company furnished to Optionee pursuant to the Plan constitutes “Proprietary
Information” of the Company. Optionee further agrees to hold in confidence and not disclose
or, except within the scope of Optionee’s Service, use any Proprietary Information. Optionee
shall not be obligated under this paragraph with respect to information Optionee can document
is or becomes readily publicly available without restriction through no fault of Optionee.
Upon termination of Optionee’s employment, Optionee shall promptly return to Company all items
containing or embodying Proprietary Information (including all copies), except that Optionee
may keep personal copies of materials distributed to stockholders generally.
	 
	(d)	 	Notice. Any notice required or permitted to be delivered under this Agreement shall be in
writing and shall be deemed received (i) the business day following electronic verification of
receipt by the receiving machine, if sent by facsimile, provided an additional copy is sent by
First Class mail as provided herein, (ii) upon personal delivery to the party to whom the
notice is directed, if sent by a reputable messenger service, (iii) the business day following
deposit with a reputable overnight courier, or (iv) five days after deposit in the U.S. mail,
First Class with postage prepaid. Notice shall be addressed to the Company at its principal
executive office and to the Optionee at the address that he or she most recently provided to
the Company.
	 
	(e)	 	Entire Agreement. The Notice of Stock Option Grant, this Agreement and the Plan constitute
the entire contract between the parties hereto with regard to the subject matter hereof. They
supersede any other agreements, representations or understandings (whether oral or written and
whether express or implied) which relate to the subject matter hereof.
	 
	(f)	 	Choice of Law. This Agreement shall be governed by, and construed in accordance with, the
laws of the State of California, as such laws are applied to contracts entered into and
performed in such State.

SECTION 13. Definitions.

	(a)	 	“Agreement” shall mean this Stock Option Agreement.
	 
	(b)	 	“Board of Directors” shall mean the Board of Directors of the Company, as constituted from
time to time or, if a Committee has been appointed, such Committee.
	 
	(c)	 	“Cause” shall mean (i) the unauthorized use or disclosure of the confidential information or
trade secrets of the Company, which use or disclosure causes material harm to the Company,
(ii) conviction of, or a plea of “guilty” or “no contest” to, a felony under the laws of the
United States or any state thereof, (iii) gross negligence or (iv) continued failure to
perform assigned duties after receiving written notification from the Board of Directors. The
foregoing, however, shall not be deemed an exclusive list of all acts or omissions that the
Company (or a Parent or Subsidiary) may consider as grounds for the discharge of an Optionee.

 

 

	(d)	 	“Change in Control” shall mean the sale, conveyance, disposal, or encumbrance of all or
substantially all of the Company’s property or business or the Company’s merger into or
consolidation with any other corporation where the stockholders of the Company immediately
prior to such merger or consolidation own less than fifty percent (50%) of such corporation,
directly or indirectly, after such merger or consolidation or if the Company effects any other
transaction or series of related transactions in which more than fifty percent (50%) of the
voting power of the Company is transferred. A transaction shall not constitute a Change in
Control if its sole purpose is to change the state of the Company’s incorporation or to create
a holding company that will be owned in substantially the same proportions by the persons who
held the Company’s securities immediately before such transaction.
	 
	(e)	 	“Code” shall mean the Internal Revenue Code of 1986, as amended.
	 
	(f)	 	“Committee” shall mean a committee of the Board of Directors, as described in Section 2 of
the Plan.
	 
	(g)	 	“Company” shall mean Green Dot Corporation, a Delaware corporation.
	 
	(h)	 	“Consultant” shall mean a person who performs bona fide services for the Company, a Parent or
a Subsidiary as a consultant or advisor, excluding Employees and Outside Directors.
	 
	(i)	 	“Date of Grant” shall mean the date specified in the Notice of Stock Option Grant, which date
shall be the later of (i) the date on which the Board of Directors resolved to grant this
option or (ii) the first day of the Optionee’s Service.
	 
	(j)	 	“Disability” shall mean that the Optionee is unable to engage in any substantial gainful
activity by reason of any medically determinable physical or mental impairment.
	 
	(k)	 	“Employee” shall mean any individual who is a common-law employee of the Company, a Parent or
a Subsidiary.
	 
	(l)	 	“Exercise Price” shall mean the amount for which one Share may be purchased upon exercise of
this option, as specified in the Notice of Stock Option Grant.
	 
	(m)	 	“Fair Market Value” shall mean the fair market value of a Share, as determined by the Board
of Directors in good faith. Such determination shall be conclusive and binding on all persons.
Notwithstanding the foregoing, Fair Market Value shall at all times be determined in
accordance with the requirements of Section 409A of the Code and the regulations and guidance
issued thereunder.
	 
	(n)	 	“Involuntary Termination” shall mean the termination of the Optionee’s or Purchaser’s Service
by reason of:

	 	(i)	 	The involuntary discharge of the Optionee or Purchaser by the Company (or the
Parent or Subsidiary employing him or her) for reasons other than Cause; or

 

 

	 	(ii)	 	The voluntary resignation of the Optionee or Purchaser following (A) a change
in his or her position with the Company (or the Parent or Subsidiary employing him or
her) that materially reduces his or her level of authority or responsibility or (B) a
reduction in his or her compensation (including base salary, fringe benefits and
participation in bonus or incentive programs based on corporate performance) by more
than 10%.

	(o)	 	“ISO” shall mean an employee incentive stock option described in Section 422(b) of the Code.
	 
	(p)	 	“Nonstatutory Option” shall mean a stock option not described in Sections 422(b) or 423(b) of
the Code.
	 
	(q)	 	“Notice of Stock Option Grant” shall mean the document so entitled to which this Agreement is
attached.
	 
	(r)	 	“Optionee” shall mean the individual named in the Notice of Stock Option Grant.
	 
	(s)	 	“Outside Director” shall mean a member of the Board of Directors who is not an Employee.
	 
	(t)	 	“Parent” shall mean any corporation (other than the Company) in an unbroken chain of
corporations ending with the Company, if each of the corporations other than the Company owns
stock possessing 50% or more of the total combined voting power of all classes of stock in one
of the other corporations in such chain.
	 
	(u)	 	“Plan” shall mean the Green Dot Corporation First Amended and Restated 2001 Stock Plan, as in
effect on the Date of Grant.
	 
	(v)	 	“Purchase Price” shall mean the Exercise Price multiplied by the number of Shares with
respect to which this option is being exercised.
	 
	(w)	 	“Right of First Refusal” shall mean the Company’s right of first refusal described in Section
7.
	 
	(x)	 	“Securities Act” shall mean the Securities Act of 1933, as amended.
	 
	(y)	 	“Service” shall mean service as an Employee, Outside Director or Consultant.
	 
	(z)	 	“Share” shall mean one share of Stock, as adjusted in accordance with Section 8 of the Plan
(if applicable).
	 
	(aa)	 	“Stock” shall mean the Class B Common Stock of the Company.

 

 

	(bb)	 	“Subsidiary” shall mean any corporation (other than the Company) in an unbroken chain of
corporations beginning with the Company, if each of the corporations other than the last
corporation in the unbroken chain owns stock possessing 50% or more of the total combined
voting power of all classes of stock in one of the other corporations in such chain.
	 
	(cc)	 	“Transferee” shall mean any person to whom the Optionee has directly or indirectly
transferred any Share acquired under this Agreement.
	 
	(dd)	 	“Transfer Notice” shall mean the notice of a proposed transfer of Shares described in Section
7.

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