Document:

exv10w1b

Exhibit 10.1B

AGREEMENT

     THIS INDEMNIFICATION AGREEMENT (the “Agreement”) is made and entered into this ___ day of
________, 20__ between Fusion-io, Inc. a Delaware corporation (the “Company”), ______________ (the
“Fund”) and ________ (“Director”) and, except as set forth in Section 3(a), is to be
effective as of the time the Director first provided services to the Company or any subsidiary of
the Company, whichever is earlier. The Director and the Fund are sometimes referred to herein
individually as an “Indemnitee” and collectively as the “Indemnitees.”

     A. Director, as a member of the Company’s Board of Directors and/or an officer, employee,
controlling person, agent or fiduciary of the Company or of any other enterprise, including
subsidiaries of the Company, at the Company’s request, performs valuable services for the Company.

     B. The Company and Indemnitees recognize the continued difficulty in obtaining liability
insurance for corporate directors, officers, employees, controlling persons, agents and
fiduciaries, the significant increases in the cost of such insurance and the general reductions in
the coverage of such insurance.

     C. The Company and Indemnitees further recognize the substantial increase in corporate
litigation in general, subjecting directors, officers, employees, controlling persons, agents and
fiduciaries to expensive litigation risks at the same time as the availability and coverage of
liability insurance has been severely limited.

     D. The Company’s Bylaws (the “Bylaws”) provide for the indemnification of certain persons to
the maximum extent permissible under the Delaware General Corporation Law, as amended (the “DGCL”).

     E. Indemnitees do not regard the current protection available for the Company’s directors,
officers, employees, controlling persons, agents and fiduciaries as adequate under the present
circumstances, and Director and other directors, officers, employees, controlling persons, agents
and fiduciaries of the Company or its subsidiaries may not be willing to serve or continue to serve
in such capacities without additional protection.

     F. The Bylaws and the DGCL, by their non-exclusive nature, permit contracts between the
Company and its directors, officers, employees, controlling persons, agents or fiduciaries with
respect to indemnification of such persons.

     G. The Company (i) desires to attract and retain the involvement of highly qualified
individuals, such as Director, to serve the Company and, in part, in order to induce Director to be
involved with the Company or its subsidiaries, and (ii) wishes to provide for the indemnification
and advancing of expenses to Indemnitees to the maximum extent permitted by law.

 

     H. In view of the considerations set forth above, the Company desires that Indemnitees be
indemnified by the Company as set forth herein.

     I. Director is a representative of the Fund and has certain rights to indemnification and/or
insurance provided by the Fund that Director and the Fund intend to be secondary to the primary
obligation of the Company to indemnify Director as provided herein, with the Company’s
acknowledgement and agreement to the foregoing being a material condition to Director’s willingness
to serve on the Board.

     NOW, THEREFORE, in consideration of Director’s service to the Company (or to any other
enterprise at the Company’s request), the parties hereto agree as follows:

     1. Indemnity of Indemnitees. The Company hereby agrees to indemnify Indemnitees to
the fullest extent permitted by law, even if such indemnification is not specifically authorized by
the other provisions of this Agreement, the Company’s or any subsidiary’s certificate of
incorporation (the “Certificate”), the Company’s or any subsidiary’s Bylaws or by statute.
Notwithstanding any term set forth herein, it is expressly agreed that Indemnitees shall be
entitled to indemnification hereunder for any damages incurred as a result of any violation of law
by the Company, any subsidiary of the Company or of any other enterprise for which Director
provides or provided services at the Company’s request. In the event of any change after the date
of this Agreement in any applicable law, statute or rule which expands the right of a Delaware
corporation to indemnify a member of its Board of Directors or an officer, employee, controlling
person, agent or fiduciary, it is the intent of the parties hereto that Indemnitees shall enjoy by
this Agreement the greater benefits afforded by such change. In the event of any change in any
applicable law, statute or rule which narrows the right of a Delaware corporation to indemnify a
member of its Board of Directors or an officer, employee, agent or fiduciary, such change, to the
extent not otherwise required by such law, statute or rule to be applied to this Agreement, shall
have no effect on this Agreement or the parties’ rights and obligations hereunder except as set
forth in Section 9(a) hereof.

     2. Additional Indemnity. The Company hereby agrees to hold harmless and indemnify the
Indemnitees:

          (a) against any and all expenses incurred by Indemnitees, as set forth in Section 3(a)
below; and

          (b) otherwise to the fullest extent not prohibited by the Certificate, the Bylaws or the DGCL.

     3. Indemnification Rights.

          (a) Indemnification of Expenses.

               (i) Third Party Claims. The Company shall indemnify and hold harmless Director,
together with Director’s partners, affiliates, employees, agents and spouse and each person who
controls any of them or who may be liable within the meaning of Section 15 of the
Securities Act of 1933, as amended (the “Securities Act”), or Section 20 of the Securities
Exchange Act of

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1934, as amended (the “Exchange Act”), to the fullest extent permitted by law if
Director was or is or becomes a party to or witness or other participant in, or is threatened to be made a party
to or witness or other participant in, any threatened, pending or completed action, suit,
proceeding or alternative dispute resolution mechanism, or any hearing, inquiry or investigation
that Director believes might lead to the institution of any such action, suit, proceeding or
alternative dispute resolution mechanism, whether civil, criminal, administrative, investigative or
other (hereinafter a “Claim”) against any and all expenses (including attorneys’ fees and all other
costs, expenses and obligations incurred in connection with investigating, defending, being a
witness in or participating in (including on appeal), or preparing to defend, be a witness in or
participate in, any such action, suit, proceeding, alternative dispute resolution mechanism,
hearing, inquiry or investigation), judgments, fines, penalties and amounts paid in settlement (if
such settlement is approved in advance by the Company, which approval shall not be unreasonably
withheld) of such Claim and any federal, state, local or foreign taxes imposed on Director as a
result of the actual or deemed receipt of any payments under this Agreement (collectively,
hereinafter “Expenses”), including all interest, assessments and other charges paid or payable in
connection with or in respect of such Expenses, incurred by Director by reason of (or arising in
part out of) any event or occurrence related to the fact that Director is or was or may be deemed a
director, officer, employee, controlling person, agent or fiduciary of the Company or any
subsidiary of the Company, or is or was or may be deemed to be serving at the request of the
Company as a director, officer, employee, controlling person, agent or fiduciary of another
corporation, partnership, limited ‘liability company, joint venture, trust or other enterprise, or
by reason of any action or inaction on the part of Director while serving in such capacity
(hereinafter an “Agent”) including, without limitation, any and all losses, claims, damages,
expenses and liabilities, joint or several (including any investigation, legal and other expenses
incurred in connection with, and any amount paid in settlement of, any action, suit, proceeding or
any claim asserted) under the Securities Act, the Exchange Act or other federal or state statutory
law or regulation, at common law or otherwise, which relate directly or indirectly to the
registration, purchase, sale or ownership of any securities of the Company or to any fiduciary
obligation owed with respect thereto (hereinafter an “Indemnification Event”). Such payment of
Expenses shall be made by the Company as soon as practicable but in any event no later than 25 days
after written demand by Director therefor is presented to the Company.

               (ii) Derivative Actions. If the Director is a person who was or is a party or is
threatened to be made a party to any Claim by or in the right of the Company to procure a judgment
in its favor by reason of the fact that he is or was an Agent of the Company, or by reason of
anything done or not done by him in any such capacity, the Company shall indemnify Director against
any amounts paid in settlement of any such Claim and all Expenses actually and reasonably incurred
by him in connection with the investigation, defense, settlement or appeal of such Claim if he
acted in good faith and in a manner he reasonably believed to be in, or not opposed to, the best
interests of the Company; except that no indemnification under this subsection shall be made in
respect of any claim, issue or matter as to which such person shall have been finally adjudged to
be liable to the Company by a court of competent jurisdiction due to willful misconduct of a
culpable nature in the performance of his duty to the Company, unless and only to the extent that
the court in which such proceeding was brought shall determine upon application that, despite the
adjudication of liability but in view of all the circumstances of the case, such person is fairly
and reasonably entitled to indemnity for such amounts which such other court shall deem proper.

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               (iii) Indemnification of Fund. The Company agrees that, if and whenever the Fund is
or was a party or is threatened to be made a party to or is in any way involved in any Claim
(including without limitation any such Claim brought by or in the right of the Company), by reason
of the fact that (A) the Director is or was an Agent, (B) by reason of anything done or not done by
the Director in such capacity, (C) by reason of the fact that the Fund is a stockholder in or
lender to the Company, (D) by reason of the Fund’s appointment of or affiliation with the Director,
or (E) by reason of the fact that the Fund is or was acting as an express agent of the Company upon
the request of the Company and solely for the benefit of the Company (provided that the fact that
the Fund will incidentally benefit as a stockholder from such action will not alone mean that such
action is not or was not solely for the benefit of the Company), the Company shall indemnify the
Fund against all Expenses actually and reasonably incurred by the Fund or on the Fund’s behalf in
connection with such Claim (including but not limited to in connection with the investigation,
defense, settlement or appeal of such Claim) except to the extent that any such Expenses arise from
a Claim for which the Director is not entitled to indemnification hereunder pursuant to Section
9 hereof or under applicable law.

          (b) Reviewing Party. Notwithstanding the foregoing, (i) the obligations of the
Company under Sections 1, 2 and 3(a) shall be subject to the condition that the
Reviewing Party (as described in Section 11(e) hereof) shall not have determined (in a
written opinion, in any case in which the Independent Legal Counsel as defined in Section
11(d) hereof is involved) that Indemnitee would not be permitted to be indemnified under
applicable law, and (ii) each Indemnitee acknowledges and agrees that the obligation of the Company
to make an advance payment of Expenses to an Indemnitee pursuant to Section 4(a) (an
“Expense Advance”) shall be subject to the condition that, if, when and to the extent that the
Reviewing Party determines that such Indemnitee would not be permitted to be so indemnified under
applicable law, the Company shall be entitled to be reimbursed by such Indemnitee (who hereby
agrees to reimburse the Company) for all such amounts theretofore paid; provided, however, that if
such Indemnitee has commenced or thereafter commences legal proceedings in a court of competent
jurisdiction to secure a determination that such Indemnitee should be indemnified under applicable
law, any determination made by the Reviewing Party that such Indemnitee would not be permitted to
be indemnified under applicable law shall not be binding and such Indemnitee shall not be required
to reimburse the Company for any Expense Advance until a final judicial determination is made with
respect thereto (as to which all rights of appeal therefrom have been exhausted or lapsed). Each
Indemnitee’s obligation to reimburse the Company for any Expense Advance shall be unsecured and no
interest shall be charged thereon. If there has not been a Change in Control (as defined in
Section 11(c) hereof), the Reviewing Party shall be selected by the Board of Directors, and
if there has been such a Change in Control (other than a Change in Control which has been approved
by a majority of the Company’s Board of Directors who were directors immediately prior to such
Change in Control), the Reviewing Party shall be the Independent Legal Counsel referred to in
Section 3(e) hereof. If there has been no determination by the Reviewing Party or if the
Reviewing Party determines that an Indemnitee substantively would not be permitted to be
indemnified in whole or in part under applicable law, such Indemnitee shall have the right to
commence litigation seeking an initial determination by the court or challenging any such
determination by the Reviewing Party or any aspect thereof, including the legal or factual bases
therefor, and the Company hereby consents to service of process and to

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appear in any such proceeding. Any determination by the Reviewing Party otherwise shall be conclusive and binding on
the Company and Indemnitees.

          (c) Contribution. If the indemnification provided for in Section 3(a) above
for any reason is held by a court of competent jurisdiction to be
unavailable to an. Indemnitee in
respect of any losses, claims, damages, expenses or liabilities referred to therein, then the
Company, in lieu of indemnifying such Indenmitee thereunder, shall contribute to the amount paid or
payable by such Indenmitee as a result of such losses, claims, damages, expenses or liabilities (i)
in such proportion as is appropriate to reflect the relative benefits received by the Company and
such Indemnitee, or (ii) if the allocation provided by clause (i) above is not permitted by
applicable law, in such proportion as is appropriate to reflect not only the relative benefits
referred to in clause (i) above but also the relative fault of the Company and such Indemnitee in
connection with the action or inaction which resulted in such losses, claims, damages, expenses or
liabilities, as well as any other relevant equitable considerations. In connection with the
registration of the Company’s securities, the relative benefits received by the Company and such
Indenmitee shall be deemed to be in the same respective proportions that the net proceeds from the
offering (before deducting expenses) received by the Company and the Indenmitee, in each case as
set forth in the table on the cover page of the applicable prospectus, bear to the aggregate public
offering price of the securities so offered. The relative fault of the Company and an Indenmitee
shall be determined by reference to, among other things, whether the untrue or alleged untrue
statement of a material fact or the omission or alleged omission to state a material fact relates
to information supplied by the Company or such Indemnitee and the parties’ relative intent,
knowledge, access to information and opportunity to correct or prevent such statement or omission.

     The Company and Indemnitees agree that it would not be just and equitable if contribution
pursuant to this Section 3(c) were determined by pro rata or per capita allocation or by
any other method of allocation which does not take account of the equitable considerations referred
to in the immediately preceding paragraph. In connection with the registration of the Company’s
securities, in no event shall an Indemnitee be required to contribute any amount under this
Section 3(c) in excess of the lesser of (i) that proportion of the total of such losses,
claims; damages or liabilities indemnified against equal to the proportion of securities sold under
such registration statement which is being sold by such Indemnitee or (ii) the proceeds received by
such Indemnitee from its sale of securities under such registration statement. No person found
guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the
Securities Act) shall be entitled to contribution from any person who was not found guilty of such
fraudulent misrepresentation.

          (d) Survival Regardless of Investigation. The indemnification and contribution
provided for herein will remain in full force and effect regardless of any investigation made by or
on behalf of Indemnitees or any officer, director, employee, agent or controlling person of an
Indemnitee.

          (e) Change in Control. The Company agrees that if there is a Change in Control of the
Company (other than a Change in Control which has been approved by a majority of the Company’s
Board of Directors who were directors immediately prior to such Change in Control) after the date
hereof then, with respect to all matters thereafter arising concerning the rights of Indemnitees to
payments of Expenses under this Agreement or any other agreement or under the

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Company’s Certificate or Bylaws as now or hereafter in effect, Independent Legal Counsel (as defined in Section
11(d) hereof) shall be selected by the Indemnitee and approved by the Company (which approval
shall not be unreasonably withheld). Such counsel, among other things, shall
render its written opinion to the Company and such Indemnitee as to whether and to what extent
such Indemnitee would be permitted to be indemnified under applicable law. The Company agrees to
abide by such opinion and to pay the reasonable fees of the Independent Legal Counsel referred to
above and to fully indemnify such counsel against any and all reasonable expenses (including
attorneys’ fees), claims, liabilities and damages arising out of or relating to this Agreement or
its engagement pursuant hereto.

          (f) Mandatory Payment of Expenses. Notwithstanding any other provision of this
Agreement, to the extent that an Indenmitee has been successful on the merits or otherwise,
including, without limitation, the dismissal of an action without prejudice, in the defense of any
action, suit, proceeding, inquiry or investigation referred to in Section 3(a) hereof or in
the defense of any claim, issue or matter therein, such Indemnitee shall be indemnified against all
Expenses incurred by such Indemnitee in connection herewith.

     4. Expenses; Indemnification Procedure.

          (a) Advancement of Expenses. The Company shall advance all Expenses incurred by an
Indemnitee. The advances to be made hereunder shall be paid by the Company to such Indemnitee as
soon as practicable but in any event no later than five business days after written demand by such
Indemnitee therefor to the Company.

          (b) Notice/Cooperation by Indemnitee; Response by the Company. Each Indemnitee shall
give the Company notice in writing in accordance with Section 15 of this Agreement as soon
as practicable of any Claim made against such Indemnitee for which indemnification will or could be
sought under this Agreement. If the Company shall not have responded to the Indemnitee request for
Indemnification pursuant to Section 15 hereof within thirty (30) days after receipt by the
Company of such request, the Indemnitee shall be deemed to be entitled to such Indemnification.
The failure of an Indemnitee to so notify the Company shall not relieve the Company of any
obligation which it may have to such Indemnitee under this Agreement or otherwise.

          (c) No Presumptions; Burden of Proof. For purposes of this Agreement, the termination
of any Claim by judgment, order, settlement (whether with or without court approval) or conviction,
or upon a plea of nolo contendere, or its equivalent, shall not create a presumption that an
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. In addition, neither
the failure of the Reviewing Party to have made a determination as to whether an Indemnitee has met
any particular standard of conduct or had any particular belief, nor an actual determination by the
Reviewing Party that an Indemnitee has not met such standard of conduct or did not have such
belief, prior to the commencement of legal proceedings by such Indemnitee to secure a judicial
determination that such Indemnitee should be indemnified under applicable law, shall be a defense
to such Indemnitee’s claim or create a presumption that Indemnitee has not met any particular
standard of conduct or did not have any particular belief. In connection with any determination by

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the Reviewing Party or otherwise as to whether an Indemnitee is entitled to be indemnified
hereunder, the burden of proof shall be on the Company to establish that such Indemnitee is not so
entitled.

          (d) Notice to Insurers. If, at the time of the receipt by the Company of a notice of
a Claim pursuant to Section 4(b) hereof, the Company has liability insurance in effect
which may cover such Claim, the Company shall give prompt notice of the commencement of such Claim
to the insurers in accordance with the procedures set forth in each of the Company’s policies. The
Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on
behalf of Indemnitees, all amounts payable as a result of such action, suit, proceeding, inquiry or
investigation in accordance with the terms of such policies.

          (e) Selection of Counsel. In the event the Company shall be obligated hereunder to
pay the Expenses of any Claim, the Company shall be entitled to assume the defense of such Claim,
with counsel approved by the applicable Indemnitee upon the delivery to such Indemnitee of written
notice of its election to do so. After delivery of such notice, approval of such counsel by the
applicable Indemnitee and the retention of such counsel by the Company, the Company will not be
liable to such Indemnitee under this Agreement for any fees of counsel subsequently incurred by
such Indemnitee with respect to the same Claim; provided that (i) such Indemnitee shall have the
right to employ such Indemnitee’s counsel in any such Claim at such Indemnitee’s expense and (ii)
if (A) the employment of counsel by such Indemnitee has been previously authorized by the Company,
(B) such Indemnitee shall have reasonably concluded that there is a conflict of interest between
the Company and such Indemnitee in the conduct of any such defense, or (C) the Company shall not
continue to retain such counsel to defend such Claim, then the fees and expenses of such
Indemnitee’s counsel shall be at the expense of the Company.

          (f) Application for Enforcement. In the event the Company fails to make timely
payments as set forth in this Agreement, an Indemnitee shall have the right to apply to any court
of competent jurisdiction for the purpose of enforcing such Indemnitee’s right to indemnification
or advancement of expenses pursuant to this Agreement. In such an enforcement hearing or
proceeding, the burden of proof shall be on the Company to prove that indemnification or
advancement of expenses to such Indemnitee is not required under this Agreement or permitted by
applicable law. Any determination by the Reviewing Party that an Indemnitee is not entitled to
indemnification hereunder shall not be a defense by the Company to the action nor create any
presumption that such Indemnitee is not entitled to indemnification or advancement of expenses
hereunder.

     5. Nonexclusivity; Primacy of Indemnification.

          (a) The indemnification provided by this Agreement shall be in addition to any rights to which
Indemnitees may be entitled under the Company’s Certificate, its Bylaws, any agreement, any vote of
stockholders or disinterested directors, the DGCL, or otherwise. The indemnification provided
under this Agreement shall continue as to an Indemnitee for any action such Indemnitee took or did
not take while serving in an indemnified capacity even though such Indemnitee may have ceased to
serve in such capacity, and such indemnification shall inure to the benefit of each Indemnitee from
and after Director’s first day of service to the Company or

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affiliation with a director from and after the date Director commences services as a director with the Company.

          (b) The Company hereby acknowledges that Director has certain rights to indemnification,
advancement of expenses and/or insurance provided by the Fund and certain of its affiliates
(collectively, the “Fund Indemnitors”). The Company hereby agrees (i) that it is the indemnitor of
first resort (i.e., its obligations to Director are primary and any obligation of the Fund
Indemnitors to advance expenses or to provide indemnification for the same expense or liabilities
incurred by Director are secondary), (ii) that it shall be required to advance the full amount of
expenses incurred by Director and shall be liable for the full amount of all Director’s Expenses to
the extent legally permitted as provided for in this Agreement or as required by the Company’s
Certificate or Bylaws or the DGCL, without regard to any rights Director may have against the Fund
Indemnitors, and (iii) that it irrevocably waives, relinquishes and releases the Fund Indemnitors
from any and all claims against the Fund Indenmitors for contribution, subrogation or any other
recovery of any kind in respect thereof. The Company further agrees that no advancement or payment
by the Fund Indemnitors on behalf of Director with respect to any Claim for which Director has
sought indemnification from the Company shall affect the foregoing and the Fund Indemnitors shall
have a right of contribution and/or be subrogated to the extent of such advancement or payment to
all of the rights of recovery of Director against the Company. The Company and Director agree that
the Fund Indemnitors are express third party beneficiaries of the terms of this Section
5(b).

     6. No Duplication of Payments. Except as provided in Section 5(b), the
Company shall not be liable under this Agreement to make any payment in connection with any Claim
made against any Indemnitee to the extent such Indemnitee has otherwise actually received payment
(under any insurance policy, the Certificate, Bylaws or otherwise) of the amounts otherwise
indemnifiable hereunder.

     7. Partial Indemnification. If any Indemnitee is entitled under any provision of this
Agreement to indemnification by the Company for any portion of Expenses incurred in connection with
any Claim, but not, however, for all of the total amount thereof, the Company shall nevertheless
indemnify such Indemnitee for the portion of such Expenses to which such Indemnitee is entitled.

     8. Mutual Acknowledgment. The Company and each Indemnitee acknowledge that in certain
instances, Federal law or applicable public policy may prohibit the Company from indemnifying its
directors, officers, employees, controlling persons, agents or fiduciaries under this Agreement or
otherwise. Each Indemnitee understands and acknowledges that the Company has undertaken or may be
required in the future to undertake with the Securities and Exchange Commission to submit the
question of indemnification to a court in certain circumstances for a determination of the
Company’s rights under public policy to indemnify Indemnitees.

     9. Exceptions. Any other provision herein to the contrary notwithstanding, the
Company shall not be obligated pursuant to the terms of this Agreement:

          (a) Claims Initiated by Indemnitees. To indemnify or advance expenses to any
Indemnitee with respect to Claims initiated or brought voluntarily by such Indemnitee and not by
way of defense, except (i) with respect to actions or proceedings to establish or enforce a right
to

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indemnify under this Agreement or any other agreement or insurance policy or under the
Certificate or Bylaws now or hereafter in effect relating to Claims for Indemnifiable Events, (ii)
in specific cases if the Board of Directors has approved the initiation or bringing of such Claim,
or (iii) as otherwise required under Section 145 of the DGCL, regardless of whether Indemnitee ultimately
is determined to be entitled to such indemnification, advance expense payment or insurance
recovery, as the case may be; or

          (b) Claims Under Section 16(b). To indemnify an Indemnitee for expenses and the
payment of profits arising from the purchase and sale by such Indemnitee of securities in violation
of Section 16(b) of the Exchange Act or any similar successor statute; or

          (c) Claims Excluded Under Section 145 of the DGCL. To indemnify an Indenmitee if (i)
such Indemnitee did not act in good faith or in a manner reasonably believed by such Indemnitee to
be in or not opposed to the best interests of the Company, or (ii) with respect to any criminal
action or proceeding, such Indemnitee had reasonable cause to believe such Indemnitee’s conduct was
unlawful, or (iii) such Indemnitee shall have been adjudged to be liable to the Company unless and
only to the extent the court in which such action was brought shall permit indemnification as
provided in Section 145(b) of the DGCL.

     10. Period of Limitations. No legal action shall be brought and no cause of action
shall be asserted by or in the right of the Company against any Indemnitee, any Indemnitee’s
estate, spouse, heirs, executors or personal or legal representatives after the expiration of five
years from the date of accrual of such cause of action, and any claim or cause of action of the
Company shall be extinguished and deemed released unless asserted by the timely filing of a legal
action within such five-year period; provided, however, that if any shorter period of limitations
is otherwise applicable to any such cause of action, such shorter period shall govern.

     11. Construction of Certain Phrases.

          (a) For purposes of this Agreement, references to the “Company” shall include, in addition to
the resulting corporation, any constituent corporation (including any constituent of a constituent)
absorbed in a consolidation or merger which, if its separate existence had continued, would have
had power and authority to indemnify its directors, officers, employees, agents or fiduciaries, so
that if an Indemnitee is or was or may be deemed a director, officer, employee, agent, control
person, or fiduciary of such constituent corporation, or is or was or may be deemed to be serving
at the request of such constituent corporation as a director, officer, employee, control person,
agent or fiduciary of another corporation, partnership, joint venture, employee benefit plan, trust
or other enterprise, such Indemnitee shall stand in the same position under the provisions of this
Agreement with respect to the resulting or surviving corporation as such Indemnitee would have with
respect to such constituent corporation if its separate existence had continued.

          (b) For purposes of this Agreement, references to “other enterprises” shall include employee
benefit plans; references to “fines” shall include any excise taxes assessed on any Indemnitee with
respect to an employee benefit plan; and references to “serving at the request of the Company”
shall include any service as a director, officer, employee, agent or fiduciary of the Company which imposes duties on, or involves services by, such director, officer, employee, agent

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or fiduciary
with respect to an employee benefit plan, its participants or its beneficiaries; and if any
Indemnitee acted in good faith and in a manner such Indemnitee reasonably believed to be in the
interests of the participants and beneficiaries of an employee benefit plan, such Indemnitee shall
be deemed to have acted in a manner “not opposed to the best interests of the Company” as
referred to in this Agreement.

          (c) For purposes of this Agreement a “Change in Control” shall be deemed to have occurred if
(i) any “person” (as such term is used in Sections 13(d)(3) and 14(d)(2) of the
Exchange Act), other than a trustee or other fiduciary holding securities under an employee benefit
plan of the Company or a corporation owned directly or indirectly by the stockholders of the
Company in substantially the same proportions as their ownership of stock of the Company, (A) who
is or becomes the beneficial owner, directly or indirectly, of securities of the Company
representing 20% or more of the combined voting power of the Company’s then outstanding Voting
Securities, increases his or her beneficial ownership of such securities by 5% or more over the
percentage so owned by such person, or (B) becomes the “beneficial owner” (as defined in Rule 13d-3
under said Exchange Act), directly or indirectly, of securities of the Company representing more
than 30% of the total voting power represented by the Company’s then outstanding Voting Securities,
(ii) during any period of two consecutive years, individuals who at the beginning of such period
constitute the Board of Directors of the Company and any new director whose election by the Board
of Directors or nomination for election by the Company’s stockholders was approved by a vote of at
least two-thirds 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, or (iii) the stockholders of the Company approve a
merger or consolidation of the Company with any other corporation other than a merger or
consolidation which would result in the Voting Securities of the Company outstanding immediately
prior thereto continuing to represent (either by remaining outstanding or by being converted into
Voting Securities of the surviving entity) at least 80% of the total voting power represented by
the Voting Securities of the Company or such surviving entity outstanding immediately after such
merger or consolidation, or 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 of (in one transaction or
a series of transactions) all or substantially all of the Company’s assets.

          (d) For purposes of this Agreement, “Independent Legal Counsel” shall mean an attorney or firm
of attorneys, selected in accordance with the provisions of Section 4(e) hereof, who shall
not have otherwise performed services for the Company or any Indemnitee within the last three years
(other than with respect to matters concerning the right of any Indemnitee under this Agreement, or
of other indemnitees under similar indemnity agreements).

          (e) For purposes of this Agreement, a “Reviewing Party” shall mean any appropriate person or
body consisting of a member or members of the Company’s Board of Directors or any other person or
body appointed by the Board of Directors who is not a party to the particular Claim for which an
Indemnitee is seeking indemnification, or Independent Legal Counsel.

          (f) For purposes of this Agreement, “Voting Securities” shall mean any securities of the
Company that vote generally in the election of directors.

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     12. Counterparts. This Agreement may be executed in one or more counterparts, each of
which shall constitute an original.

     13. Binding Effect; Successors and Assigns. This Agreement shall be binding upon and
inure to the benefit of and be enforceable by the parties hereto and their respective successors,
assigns, including any direct or indirect successor by purchase, merger, consolidation or otherwise
to all or substantially all of the business and/or assets of the Company, spouses, heirs, and
personal and legal representatives. The Company shall require and cause any successor (whether
direct or indirect by purchase, merger, consolidation or otherwise) to all, substantially all, or a
substantial part, of the business and/or assets of the Company, by written agreement in form and
substance satisfactory to Indemnitees, expressly to assume and agree to perform this Agreement in
the same manner and to the same extent that the Company would be required to perform if no such
succession had taken place. This Agreement shall continue in effect with respect to Claims
relating to Indemnifiable Events regardless of whether any Indemnitee continues to serve as a
director, officer, employee, agent, controlling person, or fiduciary of the Company or of any other
enterprise, including subsidiaries of the Company, at the Company’s request.

     14. Attorneys’ Fees. In the event that any action is instituted by an Indemnitee
under this Agreement or under any liability insurance policies maintained by the Company to enforce
or interpret any of the terms hereof or thereof, such Indemnitee shall be entitled to be paid all
Expenses incurred by such Indemnitee with respect to such action, regardless of whether such
Indemnitee is ultimately successful in such action, and shall be entitled to the advancement of
Expenses with respect to such action, unless, as a part of such action, a court of competent
jurisdiction over such action determines that the material assertions made by such Indemnitee as a
basis for such action were not made in good faith or were frivolous. In the event of an action
instituted by or in the name of the Company under this Agreement to enforce or interpret any of the
terms of this Agreement, the applicable Indemnitee shall be entitled to be paid all Expenses
incurred by such Indemnitee in defense of such action (including costs and expenses incurred with
respect to Indemnitee counterclaims and cross-claims made in such action), and shall be entitled to
the advancement of Expenses with respect to such action, unless, as a part of such action, a court
having jurisdiction over such action determines that such Indemnitee’s material defenses to such
action were made in bad faith or were frivolous.

     15. Notice. All notices and other communications required or permitted hereunder
shall be in writing, shall be effective when given, and shall in any event be deemed to be given
(a) five calendar days after deposit with the U.S. Postal Service or other applicable postal
service, if delivered by first class mail, postage prepaid, (b) upon delivery, if delivered by
hand, (c) one business day after the business day of deposit with Federal Express or similar
overnight courier, freight prepaid, or (d) one day after the business day of delivery by facsimile
transmission, if deliverable by facsimile transmission, with copy by first class mail, postage
prepaid, and shall be addressed if to Indemnitees, at each Indemnitee’s address as set forth
beneath Indemnitee’s signature to this Agreement and if to the Company at: Fusion-io, Inc., Attn:
Chief Executive Officer, 6350 South 3000 East, 6th Floor, Salt Lake City, Utah 84121 (with a copy
to O’Melveny & Myers LLP, Attn: Stephen B. Sonne, 2765 Sand Hill Road, Menlo Park, CA 94025) or at
such other address as such party may designate by ten calendar days’ advance written notice to the
other party hereto.

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     16. Consent to Jurisdiction. The Company and each Indemnitee each hereby irrevocably
consent to the jurisdiction of the courts of the State of Delaware for all purposes in connection
with any action or proceeding which arises out of or relates to this Agreement and agree that any
action instituted under this Agreement shall be commenced, prosecuted and continued only in the
Court of Chancery of the State of Delaware in and for New Castle County, which shall be the
exclusive and only proper forum for adjudicating such a claim.

     17. Severability. The provisions of this Agreement shall be severable in the event
that any of the provisions hereof (including any provision within a single section, paragraph or
sentence) are held by a court of competent jurisdiction to be invalid, void or otherwise
unenforceable, and the remaining provisions shall remain enforceable to the fullest extent
permitted by law. Furthermore, to the fullest extent possible, the provisions of this Agreement
(including, without limitations, each portion of this Agreement containing any provision held to be
invalid, void or otherwise unenforceable, that is not itself invalid, void or unenforceable) shall
be construed so as to give effect to the intent manifested by the provision held invalid, illegal
or unenforceable.

     18. Choice of Law. This Agreement shall be governed by and its provisions construed
and enforced in accordance with the laws of the State of Delaware, as applied to contracts between
Delaware residents, entered into and to be performed entirely within the State of Delaware, without
regard to the conflict of laws principles thereof

     19. Subrogation. 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 Indemnitees 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.

     20. Amendment and Termination. No amendment, modification, termination or
cancellation of this Agreement shall be effective unless it is in writing signed by all parties
hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a
waiver of any other provisions hereof (whether or not similar) nor shall such waiver constitute a
continuing waiver.

     21. Insurance. To the extent the Company maintains liability insurance applicable to
directors, officers, employees, control persons, agents or fiduciaries, Indemnitees shall be
covered by such policies in such a manner as to provide Indemnitees the same rights and benefits as
are accorded to the most favorably insured of the Company’s directors, if an Indemnitee is a
director, or of the Company’s officers, if an Indemnitee is not a director of the Company but is an
officer.

     22. No Construction as Employment Agreement. Nothing contained in this Agreement
shall be construed as giving an Indemnitee any right to be retained in the employ of the Company or
any of its subsidiaries.

     23. Entire Agreement. The Agreement constitutes the full and entire understanding and
agreement among the parties regarding the matters set forth herein.

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     24. Board and Stockholder Approval. The Board of Directors and stockholders of the
Company have approved the terms of this Agreement.

[Signature Page Follows]

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     IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year
first above written.

	 	 	 	 	 
	 	COMPANY:

FUSION-IO, INC.,

a Delaware corporation

 	 
	 
	 	By:  	 	
 	 
	 	 	Its:	 	 
	 	 	Address: 	

  6350 South 3000 East, 6th Floor

Salt Lake City, UT 84121 	 
	 

	 	 	 	 	 
	 	 INDEMNITIES:
  

 

Name:

Address:

Fax:

 	 
	 

	 	 	 	 	 
	 	FUND:

 	 
	 	By:  	 	 
	 	 	 	 
	 	By:  	
 	 
	 	 	 	 
	 	By:  	
 	 
	 	 	Address: 
	 	 	Fax:
 	 
	 

[Signature Page to Indemnification Agreement]exv10w5

Exhibit 10.5

FUSION-IO, INC.

2011 EQUITY INCENTIVE PLAN

1.     Purposes of the Plan. The purposes of this Plan are:

	 	•	 	to attract and retain the best available personnel for positions
of substantial responsibility,
	 
	 	•	 	to provide additional incentive to Employees, Directors and Consultants, and
	 
	 	•	 	to promote the success of the Company’s business.

The Plan permits the grant of Incentive Stock Options, Nonstatutory Stock Options, Restricted
Stock, Restricted Stock Units, Stock Appreciation Rights, Performance Units and Performance Shares.

2.     Definitions. As used herein, the following definitions will apply:

(a)     “Administrator” means the Board or any of its Committees as will be
administering the Plan, in accordance with Section 4 of the Plan.

(b)     “Applicable Laws” means the requirements relating to the administration of
equity-based awards under U.S. state corporate laws, U.S. federal and state securities laws, the
Code, any stock exchange or quotation system on which the Common Stock is listed or quoted and the
applicable laws of any foreign country or jurisdiction where Awards are, or will be, granted under
the Plan.

(c)     “Award” means, individually or collectively, a grant under the Plan of Options,
Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Performance Units or
Performance Shares.

(d)     “Award Agreement” means the written or electronic agreement setting forth the
terms and provisions applicable to each Award granted under the Plan. The Award Agreement is
subject to the terms and conditions of the Plan.

(e)     “Board” means the Board of Directors of the Company.

(f)     “Change in Control” means the occurrence of any of the following events:

(i)      A change in the ownership of the Company which occurs on the date that any one
person, or more than one person acting as a group (“Person”), acquires ownership of the stock of
the Company that, together with the stock held by such Person, constitutes more than fifty percent
(50%) of the total voting power of the stock of the Company; provided, however, that for purposes
of this subsection, the acquisition of additional stock by any one Person, who is considered to own
more than fifty percent (50%) of the total voting power of the stock of the Company will not be
considered a Change in Control; or

(ii)      A change in the effective control of the Company which occurs on the date that a
majority of members of the Board is replaced during any twelve (12) month period by Directors whose
appointment or election is not endorsed by a majority of the members of the Board prior to the date
of the appointment or election. For purposes of this clause (ii), if any Person is

1

 

considered to be in effective control of the Company, the acquisition of additional control of
the Company by the same Person will not be considered a Change in Control; or

(iii)     A change in the ownership of a substantial portion of the Company’s assets which
occurs on the date that any Person acquires (or has acquired during the twelve (12) month period
ending on the date of the most recent acquisition by such person or persons) assets from the
Company that have a total gross fair market value equal to or more than fifty percent (50%) of the
total gross fair market value of all of the assets of the Company immediately prior to such
acquisition or acquisitions; provided, however, that for purposes of this subsection (iii), the
following will not constitute a change in the ownership of a substantial portion of the Company’s
assets: (A) a transfer to an entity that is controlled by the Company’s stockholders immediately
after the transfer, or (B) a transfer of assets by the Company to: (1) a stockholder of the Company
(immediately before the asset transfer) in exchange for or with respect to the Company’s stock, (2)
an entity, fifty percent (50%) or more of the total value or voting power of which is owned,
directly or indirectly, by the Company, (3) a Person, that owns, directly or indirectly, fifty
percent (50%) or more of the total value or voting power of all the outstanding stock of the
Company, or (4) an entity, at least fifty percent (50%) of the total value or voting power of
which is owned, directly or indirectly, by a Person described in this subsection (iii)(B)(3). For
purposes of this subsection (iii), gross fair market value means the value of the assets of the
Company, or the value of the assets being disposed of, determined without regard to any liabilities
associated with such assets.

For purposes of this definition, persons will be considered to be acting as a group if they
are owners of a corporation that enters into a merger, consolidation, purchase or acquisition of
stock, or similar business transaction with the Company.

Notwithstanding the foregoing, a transaction will not be deemed a Change in Control unless the
transaction qualifies as a change in control event within the meaning of Code Section 409A, as it
has been and may be amended from time to time, and any proposed or final Treasury Regulations and
Internal Revenue Service guidance that has been promulgated or may be promulgated thereunder from
time to time.

Further and for the avoidance of doubt, a transaction will not constitute a Change in Control
if: (i) its sole purpose is to change the state of the Company’s incorporation, or (ii) its sole
purpose is 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.

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

(h)     “Committee” means a committee of Directors or of other individuals
satisfying Applicable Laws appointed by the Board, or a duly authorized committee of the Board, in
accordance with Section 4 hereof.

(i)     “Common Stock” means the common stock of the Company.

(j)     “Company” means Fusion-io, Inc., a Delaware corporation, or any successor
thereto.

(k)     “Consultant” means any person, including an advisor, engaged by
the Company or a Parent or Subsidiary to render services to such entity.

2

 

(l)     “Director” means a member of the Board.

(m)    “Disability” means total and permanent disability as defined in Section
22(e)(3) of the Code, provided that in the case of Awards other than Incentive Stock Options, the
Administrator in its discretion may determine whether a permanent and total disability exists in
accordance with uniform and non-discriminatory standards adopted by the Administrator from time to
time.

(n)     “Employee” means any person, including Officers and Directors, employed by
the Company or any Parent or Subsidiary of the Company. Neither service as a Director nor payment
of a director’s fee by the Company will be sufficient to constitute “employment” by the Company.

(o)     “Exchange Act” means the Securities Exchange Act of 1934, as
amended.

(p)     “Exchange Program” means a program under which (i) outstanding Awards are
surrendered or cancelled in exchange for Awards of the same type (which may have higher or lower
exercise prices and different terms), Awards of a different type, and/or cash, (ii) Participants
would have the opportunity to transfer any outstanding Awards to a financial institution or other
person or entity selected by the Administrator, and/or (iii) the exercise price of an outstanding
Award is increased or reduced. The Administrator will determine the terms and conditions of any
Exchange Program in its sole discretion.

(q)     “Fair Market Value” means, as of any date, the value of Common Stock
determined as follows:

(i)     If the Common Stock is listed on any established stock exchange or a national market
system, including without limitation the NASDAQ Global Select Market, the NASDAQ Global Market or
the NASDAQ Capital Market of The NASDAQ Stock Market, its Fair Market Value will be the closing
sales price for such stock (or the closing bid, if no sales were reported) as quoted on such
exchange or system on the day of determination, as reported in The Wall Street Journal or such
other source as the Administrator deems reliable;

(ii)     If the Common Stock is regularly quoted by a recognized securities dealer but
selling prices are not reported, the Fair Market Value of a Share will be the mean between the high
bid and low asked prices for the Common Stock on the day of determination (or, if no bids and asks
were reported on that date, as applicable, on the last trading date such bids and asks were
reported), as reported in The Wall Street Journal or such other source as the Administrator deems
reliable;

(iii)     For purposes of any Awards granted on the Registration Date, the Fair Market Value
will be the initial price to the public as set forth in the final prospectus included within the
registration statement in Form S-1 filed with the Securities and Exchange Commission for the
initial public offering of the Company’s Common Stock; or

(iv)     In the absence of an established market for the Common Stock, the Fair Market Value
will be determined in good faith by the Administrator.

(r)     “Fiscal Year” means the fiscal year of the Company.

3

 

(s)     “Incentive Stock Option” means an Option intended to qualify as an incentive
stock option within the meaning of Section 422 of the Code and the regulations promulgated
thereunder.

(t)     “Inside Director” means a Director who is an Employee.

(u)     “Non-Plan Options” means any compensatory stock options granted outside the
Existing Plans and that are outstanding as of the Registration Date.

(v)     “Nonstatutory Stock Option” means an Option that by its terms does not
qualify or is not intended to qualify as an Incentive Stock Option.

(w)     “Officer” means a person who is an officer of the Company within the meaning
of Section 16 of the Exchange Act and the rules and regulations promulgated thereunder.

(x)     “Option” means a stock option granted pursuant to the Plan.

(y)     “Outside Director” means a Director who is not an Employee.

(z)     “Parent” means a “parent corporation,” whether now or hereafter existing,
as defined in Section 424(e) of the Code.

(aa)    “Participant” means the holder of an outstanding Award.

(bb)    “Performance Share” means an Award denominated in Shares which may be earned
in whole or in part upon attainment of performance goals or other vesting criteria as the
Administrator may determine pursuant to Section 10.

(cc)    “Performance Unit” means an Award which may be earned in whole or in part
upon attainment of performance goals or other vesting criteria as the Administrator may determine
and which may be settled for cash, Shares or other securities or a combination of the foregoing
pursuant to Section 10.

(dd)    “Period of Restriction” means the period during which the transfer of Shares
of Restricted Stock are subject to restrictions and therefore, the Shares are subject to a
substantial risk of forfeiture. Such restrictions may be based on the passage of time, the
achievement of target levels of performance, or the occurrence of other events as determined by the
Administrator.

(ee)     “Plan” means this 2011 Equity Incentive Plan.

(ff)      “Registration Date” means the effective date of the first registration
statement that is filed by the Company and declared effective pursuant to Section 12(g) of the
Exchange Act, with respect to any class of the Company’s securities.

(gg)     “Restricted Stock” means Shares issued pursuant to a Restricted Stock award
under Section 7 of the Plan, or issued pursuant to the early exercise of an Option.

(hh)     “Restricted Stock Unit” means a bookkeeping entry representing an amount equal
to the Fair Market Value of one Share, granted pursuant to Section 8. Each Restricted Stock Unit
represents an unfunded and unsecured obligation of the Company.

4

 

(ii)     “Rule 16b-3” means Rule 16b-3 of the Exchange Act or any successor to
Rule 16b-3, as in effect when discretion is being exercised with respect to the Plan.

(jj)     “Section 16(b)” means Section 16(b) of the Exchange Act.

(kk)    “Service Provider” means an Employee, Director or Consultant.

(ll)      “Share” means a share of the Common Stock, as adjusted in accordance with
Section 13 of the Plan.

(mm)   “Stock Appreciation Right” means an Award, granted alone or in connection with
an Option, that pursuant to Section 9 is designated as a Stock Appreciation Right.

(nn)     “Subsidiary” means a “subsidiary corporation,” whether now or hereafter
existing, as defined in Section 424(f) of the Code.

3.     Stock Subject to the Plan.

(a)     Stock Subject to the Plan. Subject to the provisions of Section 13 of the Plan,
the maximum aggregate number of Shares that may be issued under the Plan is 12,132,430 Shares, plus
any Shares subject to stock options or similar awards granted under the Company’s 2010 Executive
Stock Incentive Plan, 2008 Stock Incentive Plan, 2006 Stock Option Plan, (the “Existing
Plans”) and Non-Plan Options that following the Registration Date expire or otherwise terminate
without having been exercised in full and Shares issued pursuant to awards granted under the
Existing Plans and Non-Plan Options that following the Registration Date are forfeited to or
repurchased by the Company, with the maximum number of Shares to be added to the Plan awards from
the Existing Plans and Non-Plan Options equal to 25,867,172 Shares. The Shares may be authorized,
but unissued, or reacquired Common Stock.

(b)     Automatic Share Reserve Increase. The number of Shares available for issuance
under the Plan will be increased on the first day of each Fiscal Year beginning with the 2013
Fiscal Year, in an amount equal to the least of (i) 10,000,000 Shares, (ii) five percent (5%) of
the outstanding Shares on the last day of the immediately preceding Fiscal Year or (iii) such
number of Shares determined by the Board.

(c)     Lapsed Awards. If an Award expires or becomes unexercisable without having been
exercised in full, is surrendered pursuant to an Exchange Program, or, with respect to Restricted
Stock, Restricted Stock Units, Performance Units or Performance Shares, is forfeited to or
repurchased by the Company due to failure to vest, the unpurchased Shares (or for Awards other than
Options or Stock Appreciation Rights the forfeited or repurchased Shares), which were subject
thereto will become available for future grant or sale under the Plan (unless the Plan has
terminated). With respect to Stock Appreciation Rights, only Shares actually issued (i.e., the net
Shares issued) pursuant to a Stock Appreciation Right will cease to be available under the Plan;
all remaining Shares under Stock Appreciation Rights will remain available for future grant or sale
under the Plan (unless the Plan has terminated). Shares that have actually been issued under the
Plan under any Award will not be returned to the Plan and will not become available for future
distribution under the Plan; provided, however, that if Shares issued pursuant to Awards of
Restricted Stock, Restricted Stock Units, Performance Shares or Performance Units are repurchased
by the Company or are forfeited to the Company, such Shares will become available for future grant
under the Plan. Shares used to pay the exercise price of an Award or to satisfy the tax withholding
obligations related to an Award will become available for future grant or sale under the Plan. To
the extent an Award under the Plan is paid out in cash rather than Shares, such cash payment will
not result in reducing the

5

 

number of Shares available for issuance under the Plan. Notwithstanding the foregoing and, subject
to adjustment as provided in Section 13, the maximum number of Shares that may be issued upon the
exercise of Incentive Stock Options will equal the aggregate Share number stated in Section 3(a),
plus, to the extent allowable under Section 422 of the Code and the Treasury Regulations
promulgated thereunder, any Shares that become available for issuance under the Plan pursuant to
Sections 3(b) and 3(c).

(d)     Share Reserve. The Company, during the term of this Plan, will at all times
reserve and keep available such number of Shares as will be sufficient to satisfy the requirements
of the Plan.

4.     Administration of the Plan.

(a)     Procedure.

(i)      Multiple Administrative Bodies. Different Committees with respect to
different groups of Service Providers may administer the Plan.

(ii)     Section 162(m). To the extent that the Administrator determines it to be
desirable to qualify Awards granted hereunder as “performance-based compensation” within the
meaning of Section 162(m) of the Code, the Plan will be administered by a Committee of two (2) or
more “outside directors” within the meaning of Section 162(m) of the Code.

(iii)     Rule 16b-3. To the extent desirable to qualify transactions hereunder as
exempt under Rule 16b-3, the transactions contemplated hereunder will be structured to satisfy the
requirements for exemption under Rule 16b-3.

(iv)     Other Administration. Other than as provided above, the Plan will be
administered by (A) the Board or (B) a Committee, which committee will be constituted to satisfy
Applicable Laws.

(b)     Powers of the Administrator. Subject to the provisions of the Plan, and in the
case of a Committee, subject to the specific duties delegated by the Board to such Committee,
the Administrator will have the authority, in its discretion:

(i)      to determine the Fair Market Value;

(ii)     to select the Service Providers to whom Awards may be granted hereunder;

(iii)     to determine the number of Shares to be covered by each Award granted hereunder;

(iv)     to approve forms of Award Agreements for use under the Plan;

(v)     to determine the terms and conditions, not inconsistent with the terms of the Plan,
of any Award granted hereunder. Such terms and conditions include, but are not limited to, the
exercise price, the time or times when Awards may be exercised (which may be based on performance
criteria), any vesting acceleration or waiver of forfeiture restrictions, and any restriction or
limitation regarding any Award or the Shares relating thereto, based in each case on such factors
as the Administrator will determine;

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(vi)     to determine the terms and conditions of any, and to institute any Exchange
Program;

(vii)     to construe and interpret the terms of the Plan and Awards granted pursuant to
the Plan;

(viii)    to prescribe, amend and rescind rules and regulations relating to the Plan,
including rules and regulations relating to sub-plans established for the purpose of satisfying
applicable foreign laws or for qualifying for favorable tax treatment under applicable foreign
laws;

(ix)     to modify or amend each Award (subject to Section 18 of the Plan), including but not
limited to the discretionary authority to extend the post-termination exercisability period of
Awards and to extend the maximum term of an Option (subject to Section 6(b) of the Plan regarding
Incentive Stock Options);

(x)      to allow Participants to satisfy withholding tax obligations in such manner as
prescribed in Section 14 of the Plan;

(xi)     to authorize any person to execute on behalf of the Company any instrument
required to effect the grant of an Award previously granted by the Administrator;

(xii)    to allow a Participant to defer the receipt of the payment of cash or the delivery
of Shares that would otherwise be due to such Participant under an Award; and

(xiii)   to make all other determinations deemed necessary or advisable for
administering the Plan.

(c)     Effect of Administrator’s Decision. The Administrator’s decisions,
determinations and interpretations will be final and binding on all Participants and any other
holders of Awards.

5.     Eligibility. Nonstatutory Stock Options, Stock Appreciation Rights, Restricted
Stock, Restricted Stock Units, Performance Shares and Performance Units may be granted to Service
Providers. Incentive Stock Options may be granted only to Employees.

6.     Stock Options.

(a)     Limitations. Each Option will be designated in the Award Agreement as either an
Incentive Stock Option or a Nonstatutory Stock Option. However, notwithstanding such designation,
to the extent that the aggregate Fair Market Value of the Shares with respect to which Incentive
Stock Options are exercisable for the first time by the Participant during any calendar year (under
all plans of the Company and any Parent or Subsidiary) exceeds one hundred thousand dollars
($100,000), such Options will be treated as Nonstatutory Stock Options. For purposes of this
Section 6(a), Incentive Stock Options will be taken into account in the order in which they were
granted. The Fair Market Value of the Shares will be determined as of the time the Option with
respect to such Shares is granted.

(b)     Term of Option. The term of each Option will be stated in the Award Agreement. In
the case of an Incentive Stock Option, the term will be ten (10) years from the date of grant or
such shorter term as may be provided in the Award Agreement. Moreover, in the case of an Incentive
Stock Option granted to a Participant who, at the time the Incentive Stock Option is granted, owns
stock representing more than ten percent (10%) of the total combined voting power of

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all classes of stock of the Company or any Parent or Subsidiary, the term of the Incentive Stock
Option will be five (5) years from the date of grant or such shorter term as may be provided in the
Award Agreement.

(c)     Option Exercise Price and Consideration.

(i)     Exercise Price. The per share exercise price for the Shares to be issued
pursuant to exercise of an Option will be determined by the Administrator, subject to the
following:

(1)     In the case of an Incentive Stock Option

(A)     granted to an Employee who, at the time the Incentive Stock Option is granted, owns stock
representing more than ten percent (10%) of the voting power of all classes of stock of the Company
or any Parent or Subsidiary, the per Share exercise price will be no less than one hundred ten
percent (110%) of the Fair Market Value per Share on the date of grant.

(B)     granted to any Employee other than an Employee described in paragraph (A) immediately
above, the per Share exercise price will be no less than one hundred percent (100%) of the Fair
Market Value per Share on the date of grant.

(2)      In the case of a Nonstatutory Stock Option, the per Share exercise price will be no less
than one hundred percent (100%) of the Fair Market Value per Share on the date of grant.

(3)      Notwithstanding the foregoing, Options may be granted with a per Share exercise price of
less than one hundred percent (100%) of the Fair Market Value per Share on the date of grant
pursuant to a transaction described in, and in a manner consistent with, Section 424(a) of the
Code.

(ii)     Waiting Period and Exercise Dates. At the time an Option is granted, the
Administrator will fix the period within which the Option may be exercised and will determine any
conditions that must be satisfied before the Option may be exercised.

(iii)     Form of Consideration. The Administrator will determine the acceptable form
of consideration for exercising an Option, including the method of payment. In the case of an
Incentive Stock Option, the Administrator will determine the acceptable form of consideration at
the time of grant. Such consideration may consist entirely of: (1) cash; (2) check; (3) promissory
note, to the extent permitted by Applicable Laws, (4) other Shares, provided that such Shares have
a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares as
to which such Option will be exercised and provided that accepting such Shares will not result in
any adverse accounting consequences to the Company, as the Administrator determines in its sole
discretion; (5) consideration received by the Company under a broker-assisted (or other) cashless
exercise program (whether through a broker or otherwise) implemented by the Company in connection
with the Plan; (6) by net exercise; (7) such other consideration and method of payment for the
issuance of Shares to the extent permitted by Applicable Laws; or (8) any combination of the
foregoing methods of payment.

(d)     Exercise of Option.

(i)     Procedure for Exercise; Rights as a Stockholder. Any Option granted hereunder
will be exercisable according to the terms of the Plan and at such times and under such

8

 

conditions as determined by the Administrator and set forth in the Award Agreement. An Option may
not be exercised for a fraction of a Share.

An Option will be deemed exercised when the Company receives: (i) a notice of exercise (in
such form as the Administrator may specify from time to time) from the person entitled to exercise
the Option, and (ii) full payment for the Shares with respect to which the Option is exercised
(together with applicable withholding taxes). Full payment may consist of any consideration and
method of payment authorized by the Administrator and permitted by the Award Agreement and the
Plan. Shares issued upon exercise of an Option will be issued in the name of the Participant or, if
requested by the Participant, in the name of the Participant and his or her spouse. Until the
Shares are issued (as evidenced by the appropriate entry on the books of the Company or of a duly
authorized transfer agent of the Company), no right to vote or receive dividends or any other
rights as a stockholder will exist with respect to the Shares subject to an Option, notwithstanding
the exercise of the Option. The Company will issue (or cause to be issued) such Shares promptly
after the Option is exercised. No adjustment will be made for a dividend or other right for which
the record date is prior to the date the Shares are issued, except as provided in Section 13 of the
Plan.

Exercising an Option in any manner will decrease the number of Shares thereafter available,
both for purposes of the Plan and for sale under the Option, by the number of Shares as to which
the Option is exercised.

(ii)      Termination of Relationship as a Service Provider. If a Participant ceases
to be a Service Provider, other than upon the Participant’s termination as the result of the
Participant’s death or Disability, the Participant may exercise his or her Option within such
period of time as is specified in the Award Agreement to the extent that the Option is vested on
the date of termination (but in no event later than the expiration of the term of such Option as
set forth in the Award Agreement). In the absence of a specified time in the Award Agreement, the
Option will remain exercisable for three (3) months following the Participant’s termination. Unless
otherwise provided by the Administrator, if on the date of termination the Participant is not
vested as to his or her entire Option, the Shares covered by the unvested portion of the Option
will revert to the Plan. If after termination the Participant does not exercise his or her Option
within the time specified by the Administrator, the Option will terminate, and the Shares covered
by such Option will revert to the Plan.

(iii)     Disability of Participant. If a Participant ceases to be a Service Provider
as a result of the Participant’s Disability, the Participant may exercise his or her Option within
such period of time as is specified in the Award Agreement to the extent the Option is vested on
the date of termination (but in no event later than the expiration of the term of such Option as
set forth in the Award Agreement). In the absence of a specified time in the Award Agreement, the
Option will remain exercisable for twelve (12) months following the Participant’s termination.
Unless otherwise provided by the Administrator, if on the date of termination the Participant is
not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option
will revert to the Plan. If after termination the Participant does not exercise his or her Option
within the time specified herein, the Option will terminate, and the Shares covered by such Option
will revert to the Plan.

(iv)     Death of Participant. If a Participant dies while a Service Provider, the
Option may be exercised following the Participant’s death within such period of time as is
specified in the Award Agreement to the extent that the Option is vested on the date of death (but
in no event may the option be exercised later than the expiration of the term of such Option as set
forth in the Award Agreement), by the Participant’s designated beneficiary, provided such
beneficiary has been designated prior to Participant’s death in a form acceptable to the
Administrator. If no such

9

 

beneficiary has been designated by the Participant, then such Option may be exercised by the
personal representative of the Participant’s estate or by the person(s) to whom the Option is
transferred pursuant to the Participant’s will or in accordance with the laws of descent and
distribution. In the absence of a specified time in the Award Agreement, the Option will remain
exercisable for twelve (12) months following Participant’s death. Unless otherwise provided by the
Administrator, if at the time of death Participant is not vested as to his or her entire Option,
the Shares covered by the unvested portion of the Option will immediately revert to the Plan. If
the Option is not so exercised within the time specified herein, the Option will terminate, and the
Shares covered by such Option will revert to the Plan.

7.     Restricted Stock.

(a)     Grant of Restricted Stock. Subject to the terms and provisions of the Plan, the
Administrator, at any time and from time to time, may grant Shares of Restricted Stock to Service
Providers in such amounts as the Administrator, in its sole discretion, will determine.

(b)     Restricted Stock Agreement. Each Award of Restricted Stock will be evidenced by an
Award Agreement that will specify the Period of Restriction, the number of Shares granted, and such
other terms and conditions as the Administrator, in its sole discretion, will determine. Unless the
Administrator determines otherwise, the Company as escrow agent will hold Shares of Restricted
Stock until the restrictions on such Shares have lapsed.

(c)     Transferability. Except as provided in this Section 7 or the Award Agreement,
Shares of Restricted Stock may not be sold, transferred, pledged, assigned, or otherwise alienated
or hypothecated until the end of the applicable Period of Restriction.

(d)     Other Restrictions. The Administrator, in its sole discretion, may impose such
other restrictions on Shares of Restricted Stock as it may deem advisable or appropriate.

(e)     Removal of Restrictions. Except as otherwise provided in this Section 7, Shares of
Restricted Stock covered by each Restricted Stock grant made under the Plan will be released from
escrow as soon as practicable after the last day of the Period of Restriction or at such other time
as the Administrator may determine. The Administrator, in its discretion, may accelerate the time
at which any restrictions will lapse or be removed.

(f)     Voting Rights. During the Period of Restriction, Service Providers holding
Shares of Restricted Stock granted hereunder may exercise full voting rights with respect to
those Shares, unless the Administrator determines otherwise.

(g)     Dividends and Other Distributions. During the Period of Restriction, Service
Providers holding Shares of Restricted Stock will be entitled to receive all dividends and other
distributions paid with respect to such Shares, unless the Administrator provides otherwise. If any
such dividends or distributions are paid in Shares, the Shares will be subject to the same
restrictions on transferability and forfeitability as the Shares of Restricted Stock with respect
to which they were paid.

(h)     Return of Restricted Stock to Company. On the date set forth in the Award
Agreement, the Restricted Stock for which restrictions have not lapsed will revert to the
Company and again will become available for grant under the Plan.

10

 

8.     Restricted Stock Units.

(a)     Grant. Restricted Stock Units may be granted at any time and from time to time as
determined by the Administrator. After the Administrator determines that it will grant Restricted
Stock Units under the Plan, it will advise the Participant in an Award Agreement of the terms,
conditions, and restrictions related to the grant, including the number of Restricted Stock Units.

(b)     Vesting Criteria and Other Terms. The Administrator will set vesting criteria in
its discretion, which, depending on the extent to which the criteria are met, will determine the
number of Restricted Stock Units that will be paid out to the Participant. The Administrator may
set vesting criteria based upon the achievement of Company-wide, business unit, or individual goals
(including, but not limited to, continued employment), or any other basis determined by the
Administrator in its discretion.

(c)     Earning Restricted Stock Units. Upon meeting the applicable vesting criteria, the
Participant will be entitled to receive a payout as determined by the Administrator.
Notwithstanding the foregoing, at any time after the grant of Restricted Stock Units, the
Administrator, in its sole discretion, may reduce or waive any vesting criteria that must be met to
receive a payout.

(d)     Form and Timing of Payment. Payment of earned Restricted Stock Units will be made
as soon as practicable after the date(s) determined by the Administrator and set forth in the Award
Agreement. The Administrator, in its sole discretion, may only settle earned Restricted Stock Units
in cash, Shares, or a combination of both.

(e)     Cancellation. On the date set forth in the Award Agreement, all unearned
Restricted Stock Units will be forfeited to the Company.

9.     Stock Appreciation Rights.

(a)     Grant of Stock Appreciation Rights. Subject to the terms and conditions of the
Plan, a Stock Appreciation Right may be granted to Service Providers at any time and from time to
time as will be determined by the Administrator, in its sole discretion.

(b)     Number of Shares. The Administrator will have complete discretion to
determine the number of Stock Appreciation Rights granted to any Service Provider.

(c)     Exercise Price and Other Terms. The per share exercise price for the Shares to be
issued pursuant to exercise of a Stock Appreciation Right will be determined by the Administrator
and will be no less than one hundred percent (100%) of the Fair Market Value per Share on the date
of grant. Otherwise, the Administrator, subject to the provisions of the Plan, will have complete
discretion to determine the terms and conditions of Stock Appreciation Rights granted under the
Plan.

(d)     Stock Appreciation Right Agreement. Each Stock Appreciation Right grant will be
evidenced by an Award Agreement that will specify the exercise price, the term of the Stock
Appreciation Right, the conditions of exercise, and such other terms and conditions as the
Administrator, in its sole discretion, will determine.

(e)     Expiration of Stock Appreciation Rights. A Stock Appreciation Right granted under
the Plan will expire upon the date determined by the Administrator, in its sole discretion, and

11

 

set forth in the Award Agreement. Notwithstanding the foregoing, the rules of Section 6(b) relating
to the maximum term and Section 6(d) relating to exercise also will apply to Stock Appreciation
Rights.

(f)     Payment of Stock Appreciation Right Amount. Upon exercise of a Stock
Appreciation Right, a Participant will be entitled to receive payment from the Company in an
amount determined by multiplying:

(i)     The difference between the Fair Market Value of a Share on the date of exercise over
the exercise price; times

(ii)     The number of Shares with respect to which the Stock Appreciation Right is exercised.

At the discretion of the Administrator, the payment upon Stock Appreciation Right exercise may
be in cash, in Shares of equivalent value, or in some combination thereof.

10.    Performance Units and Performance Shares.

(a)     Grant of Performance Units/Shares. Performance Units and Performance Shares may be
granted to Service Providers at any time and from time to time, as will be determined by the
Administrator, in its sole discretion. The Administrator will have complete discretion in
determining the number of Performance Units and Performance Shares granted to each Participant.

(b)     Value of Performance Units/Shares. Each Performance Unit will have an initial
value that is established by the Administrator on or before the date of grant. Each Performance
Share will have an initial value equal to the Fair Market Value of a Share on the date of grant.

(c)     Performance Objectives and Other Terms. The Administrator will set performance
objectives or other vesting provisions (including, without limitation, continued status as a
Service Provider) in its discretion which, depending on the extent to which they are met, will
determine the number or value of Performance Units/Shares that will be paid out to the Service
Providers. The time period during which the performance objectives or other vesting provisions must
be met will be called the “Performance Period.” Each Award of Performance Units/Shares will be
evidenced by an Award Agreement that will specify the Performance Period, and such other terms and
conditions as the Administrator, in its sole discretion, will determine. The Administrator may set
performance objectives based upon the achievement of Company-wide, divisional, or individual goals,
applicable federal or state securities laws, or any other basis determined by the Administrator in
its discretion.

(d)     Earning of Performance Units/Shares. After the applicable Performance Period has
ended, the holder of Performance Units/Shares will be entitled to receive a payout of the number of
Performance Units/Shares earned by the Participant over the Performance Period, to be determined as
a function of the extent to which the corresponding performance objectives or other vesting
provisions have been achieved. After the grant of a Performance Unit/Share, the Administrator, in
its sole discretion, may reduce or waive any performance objectives or other vesting provisions for
such Performance Unit/Share.

(e)     Form and Timing of Payment of Performance Units/Shares. Payment of earned
Performance Units/Shares will be made as soon as practicable after the expiration of the
applicable Performance Period. The Administrator, in its sole discretion, may pay earned

12

 

Performance Units/Shares in the form of cash, in Shares (which have an aggregate Fair Market
Value equal to the value of the earned Performance Units/Shares at the close of the applicable
Performance Period) or in a combination thereof.

(f)     Cancellation of Performance Units/Shares. On the date set forth in the Award
Agreement, all unearned or unvested Performance Units/Shares will be forfeited to the Company, and
again will be available for grant under the Plan.

11.    Leaves of Absence/Transfer Between Locations. Unless the Administrator provides
otherwise, vesting of Awards granted hereunder will be suspended during any unpaid leave of
absence. A Participant will not cease to be an Employee in the case of (i) any leave of absence
approved by the Company or (ii) transfers between locations of the Company or between the Company,
its Parent, or any Subsidiary. For purposes of Incentive Stock Options, no such leave may exceed
three (3) months, unless reemployment upon expiration of such leave is guaranteed by statute or
contract. If reemployment upon expiration of a leave of absence approved by the Company is not so
guaranteed, then six (6) months following the first (1st) day of such leave any
Incentive Stock Option held by the Participant will cease to be treated as an Incentive Stock
Option and will be treated for tax purposes as a Nonstatutory Stock Option.

12.    Transferability of Awards. Unless determined otherwise by the Administrator, an
Award may not be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner
other than by will or by the laws of descent or distribution and may be exercised, during the
lifetime of the Participant, only by the Participant. If the Administrator makes an Award
transferable, such Award will contain such additional terms and conditions as the Administrator
deems appropriate.

13.    Adjustments; Dissolution or Liquidation; Merger or Change in Control.

(a)     Adjustments. In the event that any dividend or other distribution (whether in the
form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse
stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or
exchange of Shares or other securities of the Company, or other change in the corporate structure
of the Company affecting the Shares occurs, the Administrator, in order to prevent diminution or
enlargement of the benefits or potential benefits intended to be made available under the Plan,
will adjust the number and class of Shares that may be delivered under the Plan and/or the number,
class, and price of Shares covered by each outstanding Award, and the numerical Share limits in
Section 3 of the Plan.

(b)     Dissolution or Liquidation. In the event of the proposed dissolution or
liquidation of the Company, the Administrator will notify each Participant as soon as practicable
prior to the effective date of such proposed transaction. To the extent it has not been previously
exercised, an Award will terminate immediately prior to the consummation of such proposed action.

(c)     Change in Control. In the event of a merger or Change in Control, each outstanding
Award will be treated as the Administrator determines, including, without limitation, that each
Award be assumed or an equivalent option or right substituted by the successor corporation or a
Parent or Subsidiary of the successor corporation. The Administrator will not be required to treat
all Awards similarly in the transaction.

In the event that the successor corporation does not assume or substitute for the Award, the
Participant will fully vest in and have the right to exercise all of his or her outstanding Options
and Stock Appreciation Rights, including Shares as to which such Awards would not otherwise be
vested or exercisable, all restrictions on Restricted Stock and Restricted Stock Units

13

 

will lapse, and, with respect to Awards with performance-based vesting, all performance goals or
other vesting criteria will be deemed achieved at one hundred percent (100%) of target levels and
all other terms and conditions met. In addition, if an Option or Stock Appreciation Right is not
assumed or substituted in the event of a Change in Control, the Administrator will notify the
Participant in writing or electronically that the Option or Stock Appreciation Right will be
exercisable for a period of time determined by the Administrator in its sole discretion, and the
Option or Stock Appreciation Right will terminate upon the expiration of such period.

For the purposes of this subsection (c), an Award will be considered assumed if, following the
Change in Control, the Award confers the right to purchase or receive, for each Share subject to
the Award immediately prior to the Change in Control, the consideration (whether stock, cash, or
other securities or property) received in the Change in Control by holders of Common Stock for each
Share held on the effective date of the transaction (and if holders were offered a choice of
consideration, the type of consideration chosen by the holders of a majority of the outstanding
Shares); provided, however, that if such consideration received in the Change in Control is not
solely common stock of the successor corporation or its Parent, the Administrator may, with the
consent of the successor corporation, provide for the consideration to be received upon the
exercise of an Option or Stock Appreciation Right or upon the payout of a Restricted Stock Unit,
Performance Unit or Performance Share, for each Share subject to such Award, to be solely common
stock of the successor corporation or its Parent equal in fair market value to the per share
consideration received by holders of Common Stock in the Change in Control.

Notwithstanding anything in this Section 13(c) to the contrary, an Award that vests, is earned
or paid-out upon the satisfaction of one or more performance goals will not be considered assumed
if the Company or its successor modifies any of such performance goals without the Participant’s
consent; provided, however, a modification to such performance goals only to reflect the successor
corporation’s post-Change in Control corporate structure will not be deemed to invalidate an
otherwise valid Award assumption.

(d)     Outside Director Awards. With respect to Awards granted to an Outside
Director that are assumed or substituted for, if on the date of or following such assumption or
substitution the Participant’s status as a Director or a director of the successor corporation, as
applicable, is terminated other than upon a voluntary resignation by the Participant (unless such
resignation is at the request of the acquirer), then the Participant will fully vest in and have
the right to exercise Options and/or Stock Appreciation Rights as to all of the Shares underlying
such Award, including those Shares which would not otherwise be vested or exercisable, all
restrictions on Restricted Stock and Restricted Stock Units will lapse, and, with respect to
Performance Units and Performance Shares, all performance goals or other vesting criteria will be
deemed achieved at one hundred percent (100%) of target levels and all other terms and conditions
met.

14.    Tax.

(a)     Withholding Requirements. Prior to the delivery of any Shares or cash pursuant to
an Award (or exercise thereof), the Company will have the power and the right to deduct or
withhold, or require a Participant to remit to the Company, an amount sufficient to satisfy
federal, state, local, foreign or other taxes (including the Participant’s FICA obligation)
required to be withheld with respect to such Award (or exercise thereof).

(b)     Withholding Arrangements. The Administrator, in its sole discretion and pursuant
to such procedures as it may specify from time to time, may permit a Participant to satisfy such
tax withholding obligation, in whole or in part by (without limitation) (a) paying cash, (b)
electing to have the Company withhold otherwise deliverable cash or Shares having a Fair Market
Value equal to the minimum statutory amount required to be withheld, or (c) delivering to the

14

 

Company already-owned Shares having a Fair Market Value equal to the minimum statutory amount
required to be withheld. The Fair Market Value of the Shares to be withheld or delivered will be
determined as of the date that the taxes are required to be withheld.

(c)     Compliance With Code Section 409A. Awards will be designed and operated in
such a manner that they are either exempt from the application of, or comply with, the requirements
of Code Section 409A such that the grant, payment, settlement or deferral will not be subject to
the additional tax or interest applicable under Code Section 409A, except as otherwise determined
in the sole discretion of the Administrator. The Plan and each Award Agreement under the Plan is
intended to meet the requirements of Code Section 409A and will be construed and interpreted in
accordance with such intent, except as otherwise determined in the sole discretion of the
Administrator. To the extent that an Award or payment, or the settlement or deferral thereof, is
subject to Code Section 409A the Award will be granted, paid, settled or deferred in a manner that
will meet the requirements of Code Section 409A, such that the grant, payment, settlement or
deferral will not be subject to the additional tax or interest applicable under Code Section 409A.

15.    No Effect on Employment or Service. Neither the Plan nor any Award will confer
upon a Participant any right with respect to continuing the Participant’s relationship as a Service
Provider with the Company, nor will they interfere in any way with the Participant’s right or the
Company’s right to terminate such relationship at any time, with or without cause, to the extent
permitted by Applicable Laws.

16.    Date of Grant. The date of grant of an Award will be, for all purposes, the date
on which the Administrator makes the determination granting such Award, or such other later date as
is determined by the Administrator. Notice of the determination will be provided to each
Participant within a reasonable time after the date of such grant.

17.    Term of Plan. Subject to Section 21 of the Plan, the Plan will become effective
upon the later to occur of (i) its adoption by the Board or (ii) immediately prior to the
Registration Date. It will continue in effect for a term of ten (10) years from the date adopted by
the Board, unless terminated earlier under Section 18 of the Plan.

18.    Amendment and Termination of the Plan.

(a)     Amendment and Termination. The Board may at any time amend, alter, suspend or
terminate the Plan.

(b)     Stockholder Approval. The Company will obtain stockholder approval of any Plan
amendment to the extent necessary and desirable to comply with Applicable Laws.

(c)     Effect of Amendment or Termination. No amendment, alteration, suspension or
termination of the Plan will impair the rights of any Participant, unless mutually agreed
otherwise between the Participant and the Administrator, which agreement must be in writing and
signed by the Participant and the Company. Termination of the Plan will not affect the
Administrator’s ability to exercise the powers granted to it hereunder with respect to Awards
granted under the Plan prior to the date of such termination.

19.    Conditions Upon Issuance of Shares.

(a)     Legal Compliance. Shares will not be issued pursuant to the exercise of an
Award unless the exercise of such Award and the issuance and delivery of such Shares will comply
with Applicable Laws and will be further subject to the approval of counsel for the Company with
respect to such compliance.

15

 

(b)     Investment Representations. As a condition to the exercise of an Award, the
Company may require the person exercising such Award to represent and warrant at the time of any
such exercise that the Shares are being purchased only for investment and without any present
intention to sell or distribute such Shares if, in the opinion of counsel for the Company, such a
representation is required.

20.    Inability to Obtain Authority. The inability of the Company to obtain authority
from any regulatory body having jurisdiction, which authority is deemed by the Company’s counsel to
be necessary to the lawful issuance and sale of any Shares hereunder, will relieve the Company of
any liability in respect of the failure to issue or sell such Shares as to which such requisite
authority will not have been obtained.

21.    Stockholder Approval. The Plan will be subject to approval by the stockholders of
the Company within twelve (12) months after the date the Plan is adopted by the Board. Such
stockholder approval will be obtained in the manner and to the degree required under Applicable
Laws.

16

 

[FORM OF US STOCK OPTION NOTICE OF GRANT]

FUSION-IO, INC.

2011 EQUITY INCENTIVE PLAN

NOTICE OF GRANT OF STOCK OPTION

Unless otherwise defined herein, the terms defined in the Fusion-io, Inc. 2011 Equity
Incentive Plan (the “Plan”) will have the same defined meanings in this Notice of Grant of Stock
Option (the “Notice of Grant”) and Terms and Conditions of Stock Option Grant, attached hereto as
Exhibit A (together, the “Agreement”).

	 	 	 
	Participant:
	 	 
	 

	 	 
	 
	 	 
	Address:
	 	 
	 

	 	 
	 
	 	 
	 
	 	 
	 

	 	 

Participant has been granted an Option to purchase Common Stock of the Company, subject to the
terms and conditions of the Plan and this Agreement, as follows:

	 	 	 
	Grant Number
	 	 
	 
	 	 
	 
	 	 
	Date of Grant
	 	 
	 

	 	 
	 
	 	 
	Vesting Commencement Date
	 	 
	 

	 	 
	 
	 	 
	Number of Shares Granted
	 	 
	 

	 	 
	 
	 	 
	Exercise Price per Share

	 	$
	 

	 	 
	 
	 	 
	Total Exercise Price

	 	$
	 

	 	 
	 
	 	 
	Type of Option
	 	___ Incentive Stock Option

	 
	 	 
	 
	 	___ Nonstatutory Stock Option

	 
	 	 
	Term/Expiration Date
	 	 
	 
	 	 

Vesting Schedule:

Subject to accelerated vesting as set forth below or in the Plan, this Option will be
exercisable, in whole or in part, in accordance with the following schedule:

[Insert Vesting Schedule.]

1

 

Termination Period:

This Option will be exercisable for three (3) months after Participant ceases to be a Service
Provider, unless such termination is due to Participant’s death or Disability, in which case this
Option will be exercisable for twelve (12) months after Participant ceases to be a Service
Provider. Notwithstanding the foregoing sentence, in no event may this Option be exercised after
the Term/Expiration Date as provided above and may be subject to earlier termination as provided in
Section 13(c) of the Plan.

By Participant’s signature and the signature of the Company’s representative below,
Participant and the Company agree that this Option is granted under and governed by the terms and
conditions of the Plan and this Agreement. Participant has reviewed the Plan and this Agreement in
their entirety, has had an opportunity to obtain the advice of counsel prior to executing this
Agreement and fully understands all provisions of the Plan and Agreement. Participant hereby
agrees to accept as binding, conclusive and final all decisions or interpretations of the
Administrator upon any questions relating to the Plan and Agreement. Participant further agrees to
notify the Company upon any change in the residence address indicated below.

	 	 	 

	PARTICIPANT

	 	FUSION-IO, INC.
	 
	 	 
	 

	 	 
	Signature

	 	By
	 
	 	 
	 

	 	 
	Print Name

	 	Title
	 
	 	 
	Address:
	 	 
	 
	 	 
	 	 
	 
	 
	 	 
	 	 
	 

2

 

EXHIBIT A

TERMS AND CONDITIONS OF STOCK OPTION GRANT

1.     Grant of Option. The Company hereby grants to the Participant named in the Notice
of Grant (“Participant”) an option (the “Option”) to purchase the number of Shares, as set forth in
the Notice of Grant, at the exercise price per Share set forth in the Notice of Grant (the
“Exercise Price”), subject to all of the terms and conditions in this Agreement and the Plan, which
is incorporated herein by reference. Subject to Section 18(c) of the Plan, in the event of a
conflict between the terms and conditions of the Plan and the terms and conditions of this
Agreement, the terms and conditions of the Plan will prevail.

If designated in the Notice of Grant as an Incentive Stock Option (“ISO”), this Option is
intended to qualify as an ISO under Section 422 of the Internal Revenue Code of 1986, as amended
(the “Code”). However, if this Option is intended to be an Incentive Stock Option, to the extent
that it exceeds the $100,000 rule of Code Section 422(d) it will be treated as a Nonstatutory Stock
Option (“NSO”). Further, if for any reason this Option (or portion thereof) will not qualify as an
ISO, then, to the extent of such nonqualification, such Option (or portion thereof) shall be
regarded as a NSO granted under the Plan. In no event will the Administrator, the Company or any
Parent or Subsidiary or any of their respective employees or directors have any liability to
Participant (or any other person) due to the failure of the Option to qualify for any reason as an
ISO.

2.     Vesting Schedule. Except as provided in Section 3, the Option
awarded by this Agreement will vest in accordance with the vesting provisions set forth in the Notice of Grant.
Shares scheduled to vest on a certain date or upon the occurrence of a certain condition will not
vest in Participant in accordance with any of the provisions of this Agreement, unless Participant
will have been continuously a Service Provider from the Date of Grant until the date such vesting
occurs.

3.     Administrator Discretion. The Administrator, in its discretion, may accelerate the
vesting of the balance, or some lesser portion of the balance, of the unvested Option at any time,
subject to the terms of the Plan. If so accelerated, such Option will be considered as having
vested as of the date specified by the Administrator.

4.     Exercise of Option.

(a)     Right to Exercise. This Option may be exercised only within the term set out in
the Notice of Grant, and may be exercised during such term only in accordance with the Plan and the
terms of this Agreement.

(b)     Method of Exercise. This Option is exercisable by delivery of an exercise notice,
in the form attached as Exhibit B (the “Exercise Notice”) or in a manner and pursuant to
such procedures as the Administrator may determine, which will state the election to exercise the
Option, the number of Shares in respect of which the Option is being exercised (the “Exercised
Shares”), and such other representations and agreements as may be required by the Company pursuant
to the provisions of the Plan. The Exercise Notice will be completed by Participant and delivered
to the Company. The Exercise Notice will be accompanied by payment of the aggregate Exercise Price
as

A-1

 

to all Exercised Shares together with any applicable tax withholding. This Option will be deemed to
be exercised upon receipt by the Company of such fully executed Exercise Notice accompanied by the
aggregate Exercise Price.

5.     Method of Payment. Payment of the aggregate Exercise Price will be by any of the
following, or a combination thereof, at the election of Participant:

(a)     cash;

(b)     check;

(c)     consideration received by the Company under a formal cashless exercise program adopted by
the Company in connection with the Plan; or

(d)     surrender of other Shares which have a Fair Market Value on the date of surrender equal to
the aggregate Exercise Price of the Exercised Shares, provided that accepting such Shares, in the
sole discretion of the Administrator, will not result in any adverse accounting consequences to the
Company.

6.     Tax Obligations.

(a)     Withholding of Taxes. Notwithstanding any contrary provision of this Agreement, no
certificate representing the Shares will be issued to Participant, unless and until satisfactory
arrangements (as determined by the Administrator) will have been made by Participant with respect
to the payment of income, employment and other taxes which the Company determines must be withheld
with respect to such Shares. To the extent determined appropriate by the Company in its discretion,
it will have the right (but not the obligation) to satisfy any tax withholding obligations by
reducing the number of Shares otherwise deliverable to Participant. If Participant fails to make
satisfactory arrangements for the payment of any required tax withholding obligations hereunder at
the time of the Option exercise, Participant acknowledges and agrees that the Company may refuse to
honor the exercise and refuse to deliver the Shares if such withholding amounts are not delivered
at the time of exercise.

(b)     Notice of Disqualifying Disposition of ISO Shares. If the Option granted to
Participant herein is an ISO, and if Participant sells or otherwise disposes of any of the Shares
acquired pursuant to the ISO on or before the later of (i) the date two (2) years after the Grant
Date, or (ii) the date one (1) year after the date of exercise, Participant will immediately notify
the Company in writing of such disposition. Participant agrees that Participant may be subject to
income tax withholding by the Company on the compensation income recognized by Participant.

(c)     Code Section 409A. Under Code Section 409A, an option that vests after December
31, 2004 (or that vested on or prior to such date but which was materially modified after October
3, 2004) that was granted with a per Share exercise price that is determined by the Internal
Revenue Service (the “IRS”) to be less than the Fair Market Value of a Share on the date of grant
(a “Discount Option”) may be considered “deferred compensation.” A Discount Option may result in
(i) income recognition by Participant prior to the exercise of the option, (ii) an additional
twenty percent (20%) federal income tax, and (iii) potential penalty and interest charges. The
Discount

A-2

 

Option may also result in additional state income, penalty and interest charges to the Participant.
Participant acknowledges that the Company cannot and has not guaranteed that the IRS will agree
that the per Share exercise price of this Option equals or exceeds the Fair Market Value of a Share
on the Date of Grant in a later examination. Participant agrees that if the IRS determines that the
Option was granted with a per Share exercise price that was less than the Fair Market Value of a
Share on the date of grant, Participant will be solely responsible for Participant’s costs related
to such a determination.

7.     Rights as Stockholder. Neither Participant nor any person claiming
under or through
Participant will have any of the rights or privileges of a stockholder of the Company in respect of
any Shares deliverable hereunder unless and until certificates representing such Shares will have
been issued, recorded on the records of the Company or its transfer agents or registrars, and
delivered to Participant. After such issuance, recordation and delivery, Participant will have all
the rights of a stockholder of the Company with respect to voting such Shares and receipt of
dividends and distributions on such Shares.

8.     No Guarantee of Continued Service. PARTICIPANT ACKNOWLEDGES AND
AGREES THAT THE VESTING OF SHARES PURSUANT TO THE VESTING SCHEDULE HEREOF IS EARNED ONLY BY
CONTINUING AS A SERVICE PROVIDER AT THE WILL OF THE COMPANY (OR THE PARENT OR SUBSIDIARY EMPLOYING
OR RETAINING PARTICIPANT) AND NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED THIS OPTION OR
ACQUIRING SHARES HEREUNDER. PARTICIPANT FURTHER ACKNOWLEDGES AND AGREES THAT THIS AGREEMENT, THE
TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN
EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS A SERVICE PROVIDER FOR THE VESTING PERIOD,
FOR ANY PERIOD, OR AT ALL, AND WILL NOT INTERFERE IN ANY WAY WITH PARTICIPANT’S RIGHT OR THE RIGHT
OF THE COMPANY (OR THE PARENT OR SUBSIDIARY EMPLOYING OR RETAINING PARTICIPANT) TO TERMINATE
PARTICIPANT’S RELATIONSHIP AS A SERVICE PROVIDER AT ANY TIME, WITH OR WITHOUT CAUSE.

9.     Address for Notices. Any notice to be given to the Company under the
terms of this Agreement will be addressed to the Company at Fusion-io, Inc., 2855 E.
Cottonwood Parkway, Suite 100, Salt Lake City, Utah 84121, or at such other address as
the Company may hereafter designate in writing.

10.    Non-Transferability of Option. This Option may not be transferred in any manner
otherwise than by will or by the laws of descent or distribution and may be exercised during the
lifetime of Participant only by Participant.

11.    Binding Agreement. Subject to the limitation on the transferability of this grant
contained herein, this Agreement will be binding upon and inure to the benefit of the heirs,
legatees, legal representatives, successors and assigns of the parties hereto.

12.    Additional Conditions to Issuance of Stock. If at any time the Company will
determine, in its discretion, that the listing, registration or qualification of the Shares upon
any

A-3

 

securities exchange or under any state or federal law, or the consent or approval of any
governmental regulatory authority is necessary or desirable as a condition to the issuance of
Shares to Participant (or his or her estate), such issuance will not occur unless and until such
listing, registration, qualification, consent or approval will have been effected or obtained free
of any conditions not acceptable to the Company. The Company will make all reasonable efforts to
meet the requirements of any such state or federal law or securities exchange and to obtain any
such consent or approval of any such governmental authority. Assuming such compliance, for income
tax purposes the Exercised Shares will be considered transferred to Participant on the date the
Option is exercised with respect to such Exercised Shares.

13.    Plan Governs. This Agreement is subject to all terms and provisions of the Plan.
In the event of a conflict between one or more provisions of this Agreement and one or more
provisions of the Plan, the provisions of the Plan will govern. Capitalized terms used and not
defined in this Agreement will have the meaning set forth in the Plan.

14.    Administrator Authority. The Administrator will have the power to interpret the
Plan and this Agreement and to adopt such rules for the administration, interpretation and
application of the Plan as are consistent therewith and to interpret or revoke any such rules
(including, but not limited to, the determination of whether or not any Shares subject to the
Option have vested). All actions taken and all interpretations and determinations made by the
Administrator in good faith will be final and binding upon Participant, the Company and all other
interested persons. No member of the Administrator will be personally liable for any action,
determination or interpretation made in good faith with respect to the Plan or this Agreement.

15.    Electronic Delivery. The Company may, in its sole discretion, decide to deliver
any documents related to Options awarded under the Plan or future options that may be awarded under
the Plan by electronic means or request Participant’s consent to participate in the Plan by
electronic means. Participant hereby consents to receive such documents by electronic delivery and
agrees to participate in the Plan through any on-line or electronic system established and
maintained by the Company or another third party designated by the Company.

16.    Captions. Captions provided herein are for convenience only and are not to serve
as a basis for interpretation or construction of this Agreement.

17.    Agreement Severable. In the event that any provision in this Agreement will be
held invalid or unenforceable, such provision will be severable from, and such invalidity or
unenforceability will not be construed to have any effect on, the remaining provisions of this
Agreement.

18.    Modifications to the Agreement. This Agreement constitutes the entire
understanding of the parties on the subjects covered. Participant expressly warrants that he or she
is not accepting this Agreement in reliance on any promises, representations, or inducements other
than those contained herein. Modifications to this Agreement or the Plan can be made only in an
express written contract executed by a duly authorized officer of the Company. Notwithstanding
anything to the contrary in the Plan or this Award Agreement, the Company reserves the right to
revise this Award Agreement as it deems necessary or advisable, in its sole discretion and without
the consent

A-4

 

of Participant, to comply with Code Section 409A or to otherwise avoid imposition of any additional
tax or income recognition under Section 409A of the Code in connection to this Option.

19.    Amendment, Suspension or Termination of the Plan. By accepting this Award,
Participant expressly warrants that he or she has received an Option under the Plan, and has
received, read and understood a description of the Plan. Participant understands that the Plan is
discretionary in nature and may be amended, suspended or terminated by the Company at any time.

20.    Governing Law. This Agreement will be governed by the laws of the State of Utah,
without giving effect to the conflict of law principles thereof. For purposes of litigating any
dispute that arises under this Option or this Agreement, the parties hereby submit to and consent
to the jurisdiction of the State of Utah, and agree that such litigation will be conducted in the
courts of Utah County, Utah, or the federal courts for the District of Utah in Salt Lake City, and
no other courts, where this Option is made and/or to be performed.

A-5

 

EXHIBIT B

FUSION-IO, INC.

2011 EQUITY INCENTIVE PLAN

EXERCISE NOTICE

Fusion-io, Inc.

2855 E. Cottonwood Parkway, Suite 100 Salt

Lake City, Utah 84121

Attention: ___________

1.     Exercise of Option. Effective as of today, ________________, _____, the
undersigned (“Purchaser”) hereby elects to purchase ______________ shares (the “Shares”) of the
Common Stock of Fusion-io, Inc. (the “Company”) under and pursuant to the 2011 Equity Incentive
Plan (the “Plan”) and the Stock Option Agreement dated ________ (the “Agreement”). The purchase
price for the Shares will be $_____________, as required by the Agreement.

2.     Delivery of Payment. Purchaser herewith delivers to the Company the full purchase
price of the Shares and any required tax withholding to be paid in connection with the exercise of
the Option.

3.     Representations of Purchaser. Purchaser acknowledges that Purchaser has received,
read and understood the Plan and the Agreement and agrees to abide by and be bound by their terms
and conditions.

4.     Rights as Stockholder. Until the issuance (as evidenced by the appropriate entry on
the books of the Company or of a duly authorized transfer agent of the Company) of the Shares, no
right to vote or receive dividends or any other rights as a stockholder will exist with respect to
the Shares subject to the Option, notwithstanding the exercise of the Option. The Shares so
acquired will be issued to Purchaser as soon as practicable after exercise of the Option. No
adjustment will be made for a dividend or other right for which the record date is prior to the
date of issuance, except as provided in Section 13 of the Plan.

5.     Tax Consultation. Purchaser understands that Purchaser may suffer adverse tax
consequences as a result of Purchaser’s purchase or disposition of the Shares. Purchaser represents
that Purchaser has consulted with any tax consultants Purchaser deems advisable in connection with
the purchase or disposition of the Shares and that Purchaser is not relying on the Company for any
tax advice.

B-1

 

6.     Entire Agreement; Governing Law. The Plan and Agreement are incorporated herein by
reference. This Exercise Notice, the Plan and the Agreement constitute the entire agreement of the
parties with respect to the subject matter hereof and supersede in their entirety all prior
undertakings and agreements of the Company and Purchaser with respect to the subject matter hereof,
and may not be modified adversely to the Purchaser’s interest except by means of a writing signed
by the Company and Purchaser. This agreement is governed by the internal substantive laws, but not
the choice of law rules, of Utah.

	 	 	 

	Submitted by:

	 	Accepted by:
	 
	 	 
	PURCHASER

	 	FUSION-IO, INC.
	 
	 	 
	 
	 	 
	 

	 	 
	Signature

	 	By
	 
	 	 
	 

	 	 
	Print Name

	 	Its
	 
	 	 
	Address:
	 	 
	 
	 	 
	 	 
	 
	 
	 	 
	 	 
	 
	 
	 	 
	 
	 	 
	 

	 	 
	 

	 	Date Received

B-2

 

[FORM OF NON-US STOCK OPTION NOTICE OF GRANT]

FUSION-IO, INC.

2011 EQUITY INCENTIVE PLAN

NON-U.S. NOTICE OF GRANT OF STOCK OPTION

Unless otherwise defined herein, the terms defined in the Fusion-io, Inc. 2011 Equity
Incentive Plan (the “Plan”) will have the same defined meanings in this Notice of Grant of Stock
Option (the “Notice of Grant”) and Terms and Conditions of Stock Option Grant, attached hereto as
Exhibit A, including any country-specific appendix thereto (together, the “Agreement”).

	 	 	 
	Participant:
	 	 
	 

	 	 
	 
	 	 
	Address:
	 	 
	 

	 	 
	 
	 	 
	 
	 	 
	 

	 	 

Participant has been granted an Option to purchase shares of Common Stock of the Company
(“Shares”), subject to the terms and conditions of the Plan and this Agreement, as follows:

	 	 	 
	Grant Number
	 	 
	 
	 	 
	 
	 	 
	Date of Grant
	 	 
	 

	 	 
	 
	 	 
	Vesting Commencement Date
	 	 
	 

	 	 
	 
	 	 
	Number of Shares Granted
	 	 
	 

	 	 
	 
	 	 
	Exercise Price per Share

	 	$
	 

	 	 
	 
	 	 
	Total Exercise Price

	 	$
	 

	 	 
	 
	 	 
	Type of Option
	 	___ Incentive Stock Option

	 
	 	 
	 
	 	___ Nonstatutory Stock Option

	 
	 	 
	Term/Expiration Date
	 	 
	 
	 	 

Vesting Schedule:

Subject to accelerated vesting as set forth below or in the Plan, this Option will be
exercisable, in whole or in part, in accordance with the following schedule:

[Insert Vesting Schedule Here]

1

 

Termination Period:

This Option will be exercisable for three (3) months after Participant ceases to be a Service
Provider, unless such termination is due to Participant’s death or Disability, in which case this
Option will be exercisable for twelve (12) months after Participant ceases to be a Service
Provider. Notwithstanding the foregoing sentence, in no event may this Option be exercised after
the Term/Expiration Date as provided above and may be subject to earlier termination as provided in
Section 13(c) of the Plan.

By Participant’s signature and the signature of the Company’s representative below,
Participant and the Company agree that this Option is granted under and governed by the terms and
conditions of the Plan and this Agreement. Participant has reviewed the Plan and this Agreement in
their entirety, has had an opportunity to obtain the advice of counsel prior to executing this
Agreement and fully understands all provisions of the Plan and this Agreement. Participant hereby
agrees to accept as binding, conclusive and final all decisions or interpretations of the
Administrator upon any questions relating to the Plan and this Agreement. Participant further
agrees to notify the Company upon any change in the residence address indicated below.

	 	 	 

	PARTICIPANT

	 	FUSION-IO, INC.
	 
	 	 
	 
	 	 
	 

	 	 
	Signature

	 	By
	 
	 	 
	 

	 	 
	Print Name

	 	Title
	 
	 	 
	Address:
	 	 
	 
	 	 
	 	 
	 
	 
	 	 
	 	 
	 

2

 

EXHIBIT A

TERMS AND CONDITIONS OF STOCK OPTION GRANT

FOR NON-U.S. PARTICIPANTS

1.     Grant of Option. The Company hereby grants to the Participant named in the Notice
of Grant (“Participant”) an option (the “Option”) to purchase the number of Shares, as set forth in
the Notice of Grant, at the exercise price per Share set forth in the Notice of Grant (the
“Exercise Price”), subject to all of the terms and conditions in this Agreement and the Plan, which
is incorporated herein by reference. Subject to Section 18(c) of the Plan, in the event of a
conflict between the terms and conditions of the Plan and the terms and conditions of this
Agreement, the terms and conditions of the Plan will prevail.

2.     Vesting Schedule. Except as provided in Section 3, the Option
awarded by this Agreement will vest in accordance with the vesting provisions set
forth in the Notice of Grant. Shares scheduled to vest on a certain date or upon the
occurrence of a certain condition will not vest in Participant in accordance with any
of the provisions of this Agreement, unless Participant will have been continuously a
Service Provider from the Date of Grant until the date such vesting occurs.

3.     Administrator Discretion. The Administrator, in its discretion, may accelerate the
vesting of the balance, or some lesser portion of the balance, of the unvested Option at any time,
subject to the terms of the Plan. If so accelerated, such Option will be considered as having
vested as of the date specified by the Administrator.

4.     Exercise of Option.

(a)     Right to Exercise. This Option may be exercised only within the term set out in
the Notice of Grant, and may be exercised during such term only in accordance with the Plan and the
terms of this Agreement.

(b)     Method of Exercise. This Option is exercisable by delivery of an exercise notice,
in the form attached as Exhibit B (the “Exercise Notice”) or in a manner and pursuant to
such procedures as the Administrator may determine, which will state the election to exercise the
Option, the number of Shares in respect of which the Option is being exercised (the “Exercised
Shares”), and such other representations and agreements as may be required by the Company pursuant
to the provisions of the Plan. The Exercise Notice will be completed by Participant and delivered
to the Company. The Exercise Notice will be accompanied by payment of the aggregate Exercise Price
as to all Exercised Shares together with any applicable tax withholding. This Option will be deemed
to be exercised upon receipt by the Company of such fully executed Exercise Notice accompanied by
the aggregate Exercise Price.

5.     Method of Payment. Payment of the aggregate Exercise Price will be by any of the
following, or a combination thereof, at the election of Participant:

(a)     cash;

(b)     check; or

A-1

 

(c)     consideration received by the Company under a formal cashless exercise program adopted by
the Company in connection with the Plan.

6.     Tax Obligations.

(a)     Withholding of Taxes. Notwithstanding any contrary provision of this Agreement,
no certificate representing the Shares will be issued to Participant, unless and until satisfactory
arrangements (as determined by the Administrator) will have been made by Participant with respect
to the payment of income, employment and other taxes which the Company determines must be withheld
with respect to such Shares. Regardless of any action the Company and/or Participant’s employer
(the “Employer”) take with respect to any or all income tax, social insurance, payroll tax, payment
on account, or other tax-related items related to Participant’s participation in the Plan and
legally applicable to Participant (“Tax-Related Items”), Participant acknowledges that the ultimate
liability for all Tax-Related Items is and remains his or her responsibility and may exceed the
amount actually withheld by the Company or the Employer. Participant further acknowledges that the
Company and/or the Employer (i) make no representations or undertakings regarding the treatment of
any Tax-Related Items in connection with any aspect of the Option, including, but not limited to,
the grant, vesting or exercise of the Option, the issuance of Shares upon exercise of the Option,
the subsequent sale of Shares acquired pursuant to such exercise, and the receipt of any dividends;
and (ii) do not commit to and are under no obligation to structure the terms of the grant or any
other aspect of the Option to reduce or eliminate Participant’s liability for Tax-Related Items or
achieve any particular tax result. Further, if Participant has become subject to tax in more than
one jurisdiction between the Date of Grant and the date of any relevant taxable or tax withholding
event, Participant acknowledges that the Company and/or the Employer (or former employer, as
applicable) may be required to withhold or account for Tax-Related Items in more than one
jurisdiction.

(b)     Prior to any relevant taxable or tax withholding event, as applicable, Participant shall
pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all
Tax-Related Items. In this regard, Participant authorizes the Company and/or the Employer, or their
respective agents, at their discretion, to satisfy the obligations with regard to all Tax-Related
Items by one or a combination of the following:

(i)     withholding from Participant’s wages or other cash compensation paid to Participant by the
Company and/or the Employer;

(ii)     withholding from the proceeds of the sale of Shares acquired upon exercise of the Option,
either through a voluntary sale or through a mandatory sale arranged by the Company (on
Participant’s behalf pursuant to this authorization); or

(iii)     withholding in Shares to be issued upon exercise of the Option.

To avoid any negative accounting treatment, the Company may withhold or account for Tax-Related
Items by considering applicable minimum statutory withholding amounts or other applicable
withholding rates. If the obligation for Tax-Related Items is satisfied by withholding in Shares,
for tax purposes, Participant will be deemed to have been issued the full number of Shares subject
to the

A-2

 

exercised portion of the Option, notwithstanding that a number of Shares are held back solely
for the purpose of paying the Tax-Related Items due as a result of any aspect of the Option and
Participant’s participation in the Plan.

(c)     Finally, Participant shall pay to the Company or the Employer any amount of the
Tax-Related Items that the Company or the Employer may be required to withhold or account for as a
result of Participant’s participation in the Plan that cannot be satisfied by the means previously
described. If Participant fails to make satisfactory arrangements for the payment of any required
Tax-Related Items hereunder at the time of the Option exercise, Participant acknowledges and agrees
that the Company may refuse to honor the exercise and refuse to deliver the Shares if such
withholding amounts are not delivered at the time of exercise.

(d)     Code Section 409A for U.S. Tax Residents. Under Code Section 409A, an option that
vests after December 31, 2004 (or that vested on or prior to such date but which was materially
modified after October 3, 2004) that was granted with a per Share exercise price that is determined
by the Internal Revenue Service (the “IRS”) to be less than the Fair Market Value of a Share on the
date of grant (a “Discount Option”) may be considered “deferred compensation.” A Discount Option
may result in (i) income recognition by Participant prior to the exercise of the option, (ii) an
additional twenty percent (20%) federal income tax, and (iii) potential penalty and interest
charges. The Discount Option may also result in additional state income, penalty and interest
charges to Participant. Participant acknowledges that the Company cannot and has not guaranteed
that the IRS will agree that the per Share exercise price of this Option equals or exceeds the Fair
Market Value of a Share on the Date of Grant in a later examination. Participant agrees that if the
IRS determines that the Option was granted with a per Share exercise price that was less than the
Fair Market Value of a Share on the date of grant, Participant will be solely responsible for
Participant’s costs related to such a determination.

7.     Rights as Stockholder. Neither Participant nor any person claiming
under or through
Participant will have any of the rights or privileges of a stockholder of the Company in respect of
any Shares deliverable hereunder unless and until certificates representing such Shares (or the
electronic equivalent thereof) will have been issued, recorded on the records of the Company or its
transfer agents or registrars, and delivered to Participant. After such issuance, recordation and
delivery, Participant will have all the rights of a stockholder of the Company with respect to
voting such Shares and receipt of dividends and distributions on such Shares.

8.     No Guarantee of Continued Service. PARTICIPANT ACKNOWLEDGES AND
AGREES THAT THE VESTING OF THIS OPTION AND THE SHARES UNDERLYING THIS OPTION PURSUANT TO THE
VESTING SCHEDULE HEREOF IS EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER AT THE WILL OF THE
COMPANY, THE EMPLOYER (OR ANY PARENT OR SUBSIDIARY) AND NOT THROUGH THE ACT OF BEING HIRED, BEING
GRANTED THIS OPTION OR ACQUIRING SHARES HEREUNDER. PARTICIPANT FURTHER ACKNOWLEDGES AND AGREES THAT
THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN
DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS A SERVICE PROVIDER FOR
THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND WILL NOT INTERFERE IN ANY WAY WITH

A-3

 

PARTICIPANT’S RIGHT OR THE RIGHT OF THE COMPANY, THE EMPLOYER (OR ANY PARENT OR SUBSIDIARY) TO
TERMINATE PARTICIPANT’S RELATIONSHIP AS A SERVICE PROVIDER AT ANY TIME, WITH OR WITHOUT CAUSE.

9.     Nature of Grant. In accepting the Option, Participant acknowledges
that:

(a)     the Plan is established voluntarily by the Company, it is discretionary in nature and may
be amended, altered, suspended or terminated by the Company at any time;

(b)     the grant of the Option is voluntary and occasional and does not create any contractual or
other right to receive future grants of options, or benefits in lieu of options, even if options
have been granted repeatedly in the past;

(c)     all decisions with respect to future option grants, if any, will be at the sole discretion
of the Company;

(d)     Participant is voluntarily participating in the Plan;

(e)     the Option and the Shares subject to the Option are an extraordinary item that do not
constitute compensation of any kind for services of any kind rendered to the Company or the
Employer and which is outside the scope of Participant’s employment or service contract, if any;

(f)     the Option and the Shares subject to the Option are not intended to replace any pension
rights or compensation;

(g)     the Option and the Shares subject to the Option are not part of normal or expected
compensation or salary for any purpose, including, but not limited to, calculating any severance,
resignation, termination, redundancy, dismissal or end-of-service payments, bonuses, long-service
awards, pension or retirement or welfare benefits or similar payments, and in no event should be
considered as compensation for, or relating in any way to, past services for the Company, the
Employer or any Parent or Subsidiary;

(h)     the future value of the underlying Shares is unknown and cannot be predicted with
certainty;

(i)     if Participant exercises the Option and acquires Shares, the value of such Shares may
increase or decrease in value, even below the Exercise Price;

(j)     no claim or entitlement to compensation or damages shall arise from termination of the
Option or the diminution of value of the Option or the Shares resulting from a termination of
Participant’s relationship as a Service Provider (for any reason whatsoever and whether or not in
breach of local labor laws), and in consideration of the Option to which Participant is otherwise
not entitled, Participant irrevocably agrees never to institute any claim against the Company
and/or the Employer, waives Participant’s ability, if any, to bring any such claim, and releases
the Company and/or the Employer from any such claim; if, notwithstanding the foregoing, any such
claim is allowed by a court of competent jurisdiction, then, by participating in the Plan,

A-4

 

Participant shall be deemed irrevocably to have agreed not to pursue such claim and agrees to
execute any and all documents necessary to request dismissal or withdrawal of such claims; and

(k)     in the event of a termination of Participant’s relationship as a Service Provider (whether
or not in breach of contract or local labor laws), Participant’s right to receive or vest in this
Option under the Plan, if any, will terminate effective as of the date that Participant is no
longer actively a Service Provider and will not be extended by any notice period mandated under
local law (e.g., active employment would not include a period of “garden leave” or similar period
pursuant to local law); furthermore, in the event of termination of Participant’s relationship as a
Service Provider (whether or not in breach of contract or local labor laws), Participant’s right to
exercise the Option, if any, will be measured as of the date that Participant ceases to be an
active Service Provider and will not be extended by any notice period mandated under local law; the
Administrator shall have the exclusive discretion to determine when Participant is no longer
actively employed for purposes of the Option grant.

10.    No Advice Regarding Grant. The Company is not providing any tax, legal, or
financial advice, nor is the Company making any recommendations regarding Participant’s
participation in the Plan or his or her acquisition or sale of the underlying Shares. Participant
is hereby advised to consult with his or her own personal tax, legal and financial advisors
regarding Participant’s participation in the Plan before taking any action related to the Plan.

11.    Data Privacy. Participant hereby explicitly and unambiguously consents to the
collection, use and transfer, in electronic or other form, of Participant’s personal data as
described in this Agreement and any other Option grant materials by and among, as applicable, the
Employer, the Company and any Parent or Subsidiary for the exclusive purpose of implementing,
administering and managing his or her participation in the Plan. Participant understands that the
Company and the Employer may hold certain personal information about Participant, including, but
not limited to, Participant’s name, home address and telephone number, date of birth, social
insurance number or other identification number, salary, nationality, job title, any Shares or
directorships held in the Company, details of all Options or any other entitlement to Shares
awarded, canceled, exercised, vested, unvested or outstanding in Participant’s favor, for the
exclusive purpose of implementing, administering and managing the Plan (“Data”). Participant
understands that Data may be transferred to [insert name of broker] or such other stock plan
service provider selected by the Company in the future to assist the Company with the
implementation, administration and management of the Plan. Participant understands that the
recipients of Data may be located in the United States or elsewhere, and that the recipient’s
country (e.g., the United States) may have different data privacy laws and protections than
Participant’s country. Participant understands that he or she may request a list with the names and
addresses of any potential recipients of Data by contacting Participant’s local human resources
representative. Participant authorizes the Company, [insert broker] and any other possible
recipients which may assist the Company (presently or in the future) with implementing,
administering and managing the Plan to receive, possess, use, retain and transfer the Data, in
electronic or other form, for the sole purpose of implementing, administering and managing
Participant’s participation in the Plan. Participant understands that Data will be held only as
long as is necessary to implement, administer and manage his or her participation in the Plan.
Participant understands that he or she may, at any time, view Data, request additional

A-5

 

information about the storage and processing of Data, require any necessary amendments to Data
or refuse or withdraw the consents herein, in any case without cost, by contacting in writing
Participant’s local human resources representative. Participant understands, however, that refusing
or withdrawing his or her consent may affect Participant’s ability to participate in the Plan. For
more information on the consequences of Participant’s refusal to consent or withdrawal of consent,
Participant understands that he or she may contact his or her local human resources representative.

12.    Address for Notices. Any notice to be given to the Company under the terms of this
Agreement will be addressed to the Company at Fusion-io, Inc., 2855 E. Cottonwood Parkway, Suite
100, Salt Lake City, Utah 84121, or at such other address as the Company may hereafter designate in
writing.

13.    Non-Transferability of Option. This Option may not be transferred in any manner
otherwise than by will or by the laws of descent or distribution and may be exercised during the
lifetime of Participant only by Participant.

14.    Binding Agreement. Subject to the limitation on the transferability of this grant
contained herein, this Agreement will be binding upon and inure to the benefit of the heirs,
legatees, legal representatives, successors and assigns of the parties hereto.

15.    Language. If Participant has received this Agreement or any other document related
to the Plan translated into a language other than English and if the meaning of the translated
version is different from the English version, the English version will control.

16.    Country-Specific Terms and Conditions. Notwithstanding any provision in this
Agreement to the contrary, the Option shall be subject to any special terms and provisions as set
forth in Exhibit C to this Agreement for Participant’s country. Moreover, if Participant relocates
to one of the countries included in Exhibit C, the special terms and conditions for such country
will apply to Participant, to the extent the Company determines that the application of such terms
and conditions is necessary or advisable in order to comply with local law or facilitate the
administration of the Plan. Exhibit C constitutes part of this Agreement.

17.    Additional Conditions to Issuance of Common Stock. If at any time the Company will
determine, in its discretion, that the listing, registration or qualification of the Shares upon
any securities exchange or under any state, federal or foreign law, or the consent or approval of
any governmental regulatory authority is necessary or desirable as a condition to the issuance of
Shares to Participant (or his or her estate), such issuance will not occur unless and until such
listing, registration, qualification, consent or approval will have been effected or obtained free
of any conditions not acceptable to the Company. The Company will make all reasonable efforts to
meet the requirements of any such state, federal or foreign law or securities exchange and to
obtain any such consent or approval of any such governmental authority. Assuming such compliance,
for income tax purposes the Shares will be considered transferred to Participant on the date the
Option is exercised with respect to such Shares.

A-6

 

18.    Plan Governs. This Agreement is subject to all terms and provisions of the Plan.
In the event of a conflict between one or more provisions of this Agreement and one or more
provisions of the Plan, the provisions of the Plan will govern. Capitalized terms used and not
defined in this Agreement will have the meaning set forth in the Plan.

19.    Administrator Authority. The Administrator will have the power to interpret the
Plan and this Agreement and to adopt such rules for the administration, interpretation and
application of the Plan as are consistent therewith and to interpret or revoke any such rules
(including, but not limited to, the determination of whether or not any Shares subject to the
Option have vested). All actions taken and all interpretations and determinations made by the
Administrator in good faith will be final and binding upon Participant, the Company and all other
interested persons. No member of the Administrator will be personally liable for any action,
determination or interpretation made in good faith with respect to the Plan or this Agreement.

20.    Electronic Delivery and Acceptance. The Company may, in its sole discretion,
decide to deliver any documents related to Options awarded under the Plan or future options that
may be awarded under the Plan by electronic means or request Participant’s consent to participate
in the Plan by electronic means. Participant hereby consents to receive such documents by
electronic delivery and agrees to participate in the Plan through any on-line or electronic system
established and maintained by the Company or another third party designated by the Company.

21.    Captions. Captions provided herein are for convenience only and are not to serve
as a basis for interpretation or construction of this Agreement.

22.    Agreement Severable. In the event that any provision in this Agreement will be
held invalid or unenforceable, such provision will be severable from, and such invalidity or
unenforceability will not be construed to have any effect on, the remaining provisions of this
Agreement.

23.    Modifications to the Agreement. This Agreement constitutes the entire
understanding of the parties on the subjects covered. Participant expressly warrants that he or she
is not accepting this Agreement in reliance on any promises, representations, or inducements other
than those contained herein. Modifications to this Agreement or the Plan can be made only in an
express written contract executed by a duly authorized officer of the Company. Notwithstanding
anything to the contrary in the Plan or this Award Agreement, the Company reserves the right to
revise this Award Agreement as it deems necessary or advisable, in its sole discretion and without
the consent of Participant, to comply with Code Section 409A or to otherwise avoid imposition of
any additional tax or income recognition under Section 409A of the Code for U.S. taxpayers or
additional tax or income recognition outside of the U.S. in connection to this Option.

24.    Amendment, Suspension or Termination of the Plan. By accepting this Award,
Participant expressly warrants that he or she has received an Option under the Plan, and has
received, read and understood a description of the Plan. Participant understands that the Plan is
discretionary in nature and may be amended, suspended or terminated by the Company at any time.

A-7

 

25.    Imposition of Other Requirements. The Company reserves the right to impose other
requirements on Participant’s participation in the Plan, on the Option and on any Exercised Shares,
to the extent the Company determines it is necessary or advisable in order to comply with local law
or facilitate the administration of the Plan, and to require Participant to sign any additional
agreements or undertakings that may be necessary to accomplish the foregoing.

26.    Governing Law/Venue. This Agreement will be governed by the laws of the State of
Utah, without giving effect to the conflict of law principles thereof. For purposes of litigating
any dispute that arises under this Option or this Agreement, the parties hereby submit to and
consent to the jurisdiction of the State of Utah, and agree that such litigation will be conducted
in the courts of Utah County, Utah, or the federal courts for the District of Utah in Salt Lake
City, and no other courts, where this Option is made and/or to be performed.

A-8

 

EXHIBIT B

FUSION-IO, INC.

2011 EQUITY INCENTIVE PLAN

EXERCISE NOTICE

Fusion-io, Inc.

2855 E. Cottonwood Parkway, Suite 100

Salt Lake City, Utah 84121

Attention:                     

1.      Exercise of Option.    Effective as of today, ________________, _____, the
undersigned (“Purchaser”) hereby elects to purchase ______________ shares (the “Shares”) of the
Common Stock of Fusion-io, Inc. (the “Company”) under and pursuant to the 2011 Equity Incentive
Plan (the “Plan”) and the Stock Option Agreement dated ________, including any country-specific
appendix thereto (the “Agreement”). The purchase price for the Shares will be $_____________, as
required by the Agreement.

2.      Delivery of Payment.    Purchaser herewith delivers to the Company the full purchase
price of the Shares and any required tax withholding to be paid in connection with the exercise of
the Option.

3.      Representations of Purchaser.    Purchaser acknowledges that Purchaser has received,
read and understood the Plan and the Agreement and agrees to abide by and be bound by their terms
and conditions.

4.      Rights as Stockholder.    Until the issuance (as evidenced by the appropriate entry on
the books of the Company or of a duly authorized transfer agent of the Company) of the Shares, no
right to vote or receive dividends or any other rights as a stockholder will exist with respect to
the Shares subject to the Option, notwithstanding the exercise of the Option. The Shares so
acquired will be issued to Purchaser as soon as practicable after exercise of the Option. No
adjustment will be made for a dividend or other right for which the record date is prior to the
date of issuance, except as provided in Section 13 of the Plan.

5.      Tax Consultation.    Purchaser understands that Purchaser may suffer adverse tax
consequences as a result of Purchaser’s purchase or disposition of the Shares. Purchaser represents
that Purchaser has consulted with any tax consultants Purchaser deems advisable in connection with
the purchase or disposition of the Shares and that Purchaser is not relying on the Company for any
tax advice.

B-1 

 

6.      Entire Agreement; Governing Law.    The Plan and Agreement are incorporated herein by
reference. This Exercise Notice, the Plan and the Agreement constitute the entire agreement of the
parties with respect to the subject matter hereof and supersede in their entirety all prior
undertakings and agreements of the Company and Purchaser with respect to the subject matter hereof,
and may not be modified adversely to the Purchaser’s interest except by means of a writing signed
by the Company and Purchaser. This Exercise Notice is governed by the internal substantive laws,
but not the choice of law rules, of Utah.

	 	 	 

	Submitted by:

	 	Accepted by:
	 
	 	 
	PURCHASER

	 	FUSION-IO, INC.
	 
	 	 
	 
	 	 
	 

	 	 
	Signature

	 	By
	 
	 	 
	 

	 	 
	Print Name

	 	Its
	 
	 	 
	Address:
	 	 
	 
	 	 
	 

	 	 
	 
	 	 
	 

	 	 
	 
	 	 
	 

	 	 
	 

	 	Date Received

B-2 

 

EXHIBIT C

FUSION-IO, INC.

2001 EQUITY INCENTIVE PLAN

COUNTRY-SPECIFIC TERMS AND CONDITIONS OF STOCK OPTION GRANT

FOR NON-U.S. PARTICIPANTS

Terms and Conditions

This Exhibit C includes additional terms and conditions that govern the Option granted to
Participant under the Plan if Participant resides in one of the countries listed below. Certain
capitalized terms used but not defined in this Exhibit C have the meanings set forth in the Plan
and the Agreement.

Notifications

This Exhibit C also includes information regarding exchange controls and certain other issues of
which Participant should be aware with respect to his or her participation in the Plan. The
information is based on the securities, exchange control and other laws in effect in the respective
countries as of May 2011. Such laws are often complex and change frequently. The Company strongly
recommends that Participant not rely on the information in this Exhibit C as the only source of
information relating to the consequences of Participant’s participation in the Plan because the
information may be out of date at the time that Participant exercises his or her Option and Shares
are issued to Participant or Participant sells the Shares acquired under the Plan.

In addition, the information contained herein is general in nature and may not apply to
Participant’s particular situation, and the Company is not in a position to assure Participant of a
particular result. Accordingly, Participant is advised to seek appropriate professional advice as
to how the relevant laws in Participant’s country may apply to his or her situation.

Certain exchange control reporting requirements may apply upon the exercise of the Option or the
sale of the Exercise Shares and it is Participant’s obligation to consult with his or her personal
advisor regarding the applicable exchange control reporting requirements in Participant’s country
and to comply with the applicable exchange control requirements.

Finally, if Participant is a citizen or resident of a country other than the one in which
Participant is currently working, transfers employment after the Date of Grant, or is considered a
resident of another country for local law purposes, the notifications contained herein may not be
applicable to Participant, and the Company shall, in its discretion, determine to what extent the
terms and conditions contained herein shall be applicable to Participant.

C-1 

 

BELGIUM 

Terms and Conditions

Accepting the Option.  Participant must make a choice as to whether to accept the offer of
the Option, and, if so, whether Participant would like, based on the current interpretation of
Belgian tax law by the Belgian Minister of Finance, to (i) accept the Option within 60 days from
the offer date (for tax at the time of offer); (ii) accept the
Option after 60 days from the offer
date (for tax at the time of exercise); or (iii) reject the Option. The choice is at Participant’s
risk and neither the Employer nor the Company (nor any Parent or Subsidiary) may be held liable for
damages, if any, that Participant may incur should the Minister of Finance’s interpretation not be
upheld (with respect to taxation at exercise for Options accepted after 60 days following the offer
date). If Participant does not accept the Option within 120 days of the offer date, then the Option
will be deemed rejected for Belgian tax purposes.

Participant should refer to the offer letter for a more detailed description of the tax
consequences of choosing to accept the Option. Participant is strongly encouraged to consult his or
her tax advisor in deciding which choice to make with respect to the Option.

CANADA 

Terms and Conditions

Exercise of Option.  This provision supplements Section 4 of the Agreement:

Notwithstanding Section 6(c) of the Plan or Section 4(d) of the Agreement to the contrary, due to
legal restrictions in Canada, Participant is prohibited from surrendering Shares he or she already
owns or attesting to the ownership of Shares to pay the Exercise Price or any Tax-Related Items due
in connection with the Option.

Termination of Relationship as a Service Provider.  This provision supplements the Notice of
Grant and Section 9(k) of the Agreement:

In the event of involuntary termination of Participant’s relationship as a Service Provider
(whether or not in breach of contract or local labor laws), Participant’s right to receive and vest
in the Option under the Plan, if any, will terminate effective as of the date that is the earlier
of: (1) the date Participant receives notice of termination of Participant’s relationship as a
Service Provider from the Company or the Employer, or (2) the date Participant is no longer
actively providing service to the Company or the Employer regardless of any notice period or period
of pay in lieu of such notice required under local law (including, but not limited to, statutory
law, regulatory law and/or common law). In addition, Participant’s right, if any, to exercise the
Option after Participant’s relationship as a Service Provider is terminated will be measured by the
date that is the earlier of: (1) the date Participant receives notice of termination of
Participant’s relationship as a Service Provider from the Company or the Employer, or (2) the date
Participant is no longer actively providing service to the Company or the Employer regardless of
any notice period or period of pay in lieu of such notice

C-2 

 

required under local law (including, but not limited to, statutory law, regulatory law and/or
common law; the Administrator shall have the exclusive discretion to determine when Participant no
longer actively employed for purposes of the Option.

THE FOLLOWING PROVISIONS ONLY APPLY IF YOU ARE A RESIDENT OF QUEBEC

French Language Provision.  The following provision will apply if Participant is a resident
of Quebec:

The parties acknowledge that it is their express wish that the Agreement, as well as all
documents, notices and legal proceedings entered into, given or instituted pursuant hereto or
relating directly or indirectly hereto, be drawn up in English.

Les parties reconnaissent avoir exigé la rédaction en anglais de cette convention, ainsi que de
tous documents, avis et procédures judiciaires, exécutés, donnés ou intentés en vertu de, ou liés
directement ou indirectement à, la présente convention.

Data Privacy.  This provision supplements Section 11 of the Agreement:

Participant hereby authorizes the Company and the Company’s representatives to discuss with and
obtain all relevant information from all personnel, professional or not, involved in the
administration and operation of the Plan. Participant further authorizes the Company (or any Parent
or Subsidiary) and the Administrator to disclose and discuss the Plan with their advisors.
Participant further authorizes the Company (or any Parent or Subsidiary) to record such information
and to keep such information in Participant’s employee file.

CHINA 

Terms and Conditions

Exercise of Option.  This provision supplements the Notice of Grant and Section 4 of the
Agreement:

Notwithstanding Section 6(c) of the Plan or Section 4 of the Agreement to the contrary,
Participants that are citizens of the People’s Republic of China (the “PRC”) must exercise the
Option using the using the cashless sell-all exercise method (as described in Section 4(c) of the
Agreement) pursuant to which all Shares subject to the exercised Option will be sold immediately
upon exercise and the proceeds of sale, less the Exercise Price, any Tax-Related Items and broker’s
fees or commissions, will be remitted to Participant in accordance with any applicable exchange
control laws and regulations. Participant acknowledges that the Company’s designated broker is
under no obligation to arrange for the sale of the Shares at any particular price. To the extent
that regulatory requirements change, the Company reserves the right to permit exercises through any
of the means set forth in Section 4 of the Agreement. This restriction will not apply to non-PRC
citizens.

Termination of Relationship as a Service Provider.  This provision supplements the Notice of
Grant:

Notwithstanding anything to the contrary in the Termination Period section of the Notice of Grant,
in the event of Participant’s relationship as a Service Provider is terminated by the Company, the

C-3 

 

Employer (or any Parent or Subsidiary), Participant or Participant’s heirs shall be permitted to
exercise the Option for the shorter of the Termination Period (if any) set forth in the Notice of
Grant and six months (or such other period as may be required by the State Administration of
Foreign Exchange (“SAFE”)) after the date of termination of Participant’s relationship as a Service
Provider, to the extent the Administrator determines this restriction is necessary, in its sole
discretion. At the end of the Terminated Period specified by SAFE, any unexercised portion of the
Option shall immediately expire. This restriction will not apply to non-PRC citizens.

Exchange Control Information.  Participant understands and agrees that, pursuant to local
exchange control requirements, Participant will be required to immediately repatriate the cash
proceeds from the sale of Shares underlying the Option. Participant further understands that, under
local law, such repatriation of his or her cash proceeds may need to be effectuated through a
special exchange control account established by the Company (or any Parent or Subsidiary) or the
Employer, and Participant hereby consents and agrees that any proceeds from the sale of Shares may
be transferred to such special exchange control account prior to being delivered to Participant.
The Company is under no obligation to secure any exchange conversion rate, and the Company may face
delays in converting the proceeds to local currency due to exchange control restrictions in China.
Participant agrees to bear any currency fluctuation risk between the time the Shares are sold and
the time the sale proceeds are distributed through any such special exchange control account.
Participant further agrees to comply with any other requirements that may be imposed by the Company
in the future in order to facilitate compliance with exchange control requirements in China. These
requirements will not apply to non-PRC citizens. Participants who are non-PRC citizens are not
subject to the repatriation requirement.

DENMARK 

Notifications

Exchange Control and Tax Notification.  Participant may hold Shares acquired under the Plan
in a safety-deposit account (e.g., a brokerage account) with either a Danish bank or with an
approved foreign broker or bank. If the Shares are held with a foreign broker or bank, Participant
is required to inform the Danish Tax Administration about the safety-deposit account. For this
purpose, Participant must file a Declaration V (Erklaering V) with the Danish Tax Administration.
Both Participant and the broker or bank must sign the Declaration V. By signing the Declaration V,
the broker or bank undertakes an obligation, without further request each year, to forward
information to the Danish Tax Administration concerning the Shares in the account. By signing the
Declaration V, Participant authorizes the Danish Tax Administration to examine the account. A
sample of the Declaration V can be found at the following website:
www.skat.dk/Blanketter/49023.pdf.

In addition, if Participant opens a brokerage account (or a deposit account with a U.S. bank), the
brokerage account (or bank account, as applicable) will be treated as a deposit account because
cash can be held in the account. Therefore, Participant must also file a Declaration K (Erklaering
K) with the Danish Tax Administration. Both Participant and the broker must sign the Declaration K.
By signing the Declaration K, the broker undertakes an obligation, without further request each
year, to forward information to the Danish Tax Administration concerning the content of the deposit
account. By signing the Declaration K, Participant authorizes the Danish Tax Administration to
examine the

C-4 

 

account. A sample of Declaration K can be found at the following website:
www.skat.dk/Blanketter/49021.pdf.

If the Participant exercises the Option by the cashless-sell-all method of exercise, Participant is
not required to file a Declaration V because he or she will not hold any Shares. However, if
Participant opens a deposit account with a foreign broker or bank to hold the cash proceeds,
Participant is required to file a Declaration K as described above.

Stock Option Act.  Participant acknowledges that he or she received an Employer Statement
in Danish which sets forth the terms of the Option.

FRANCE 

Notifications

Consent to Receive Information in English.  By accepting the Option, Participant confirms
having read and understood the Plan and the Agreement, including all terms and conditions included
therein, which were provided in the English language. Participant accepts the terms of those
documents accordingly.

En acceptant cette Option, le Participant confirme avoir lu et compris le Plan et le Contrat y
relatifs, incluant tous leurs termes et conditions, qui ont été transmis en langue anglaise. Le
Participant accepte les dispositions de ces documents en connaissance de cause.

GERMANY 

There are no country-specific provisions.

HONG KONG 

Terms and Conditions

Warning: The Option and the Shares acquired upon exercise of the Option do not constitute a public
offering of securities under Hong Kong law and are available only to employees of the Company (or
any Parent or Subsidiary). The Agreement, including this Exhibit C, the Plan and other incidental
communication materials have not been prepared in accordance with and are not intended to
constitute a “prospectus” for a public offering of securities under the applicable securities
legislation in Hong Kong, nor have the documents been reviewed by any regulatory authority in Hong
Kong. The Option is intended only for the personal use of each eligible employee of the Employer,
the Company (or any Parent or Subsidiary) and may not be distributed to any other person. If
Participant has any doubt about any of the contents of the Agreement, including this Exhibit C, or
the Plan, Participant should obtain independent professional advice.

C-5 

 

Notifications

Nature of Scheme.  The Company specifically intends that the Plan will not be an
occupational retirement scheme for purposes of the Occupational Retirement Schemes Ordinance.

INDIA 

Terms and Conditions

Exercise of Option.  This provision supplements Section 4 of the Agreement:

Due to legal restrictions in India, Participant may not exercise his or her Option using a cashless
sell-to-cover exercise, whereby Participant directs a broker to sell some (but not all) of the
Shares subject to the Option and deliver to the Company the amount of the sale proceeds to pay the
Exercise Price and any Tax-Related Items. However, payment of the Exercise Price may be made by any
of the other methods of payment set forth in Section 4 of the Agreement. The Company reserves the
right to provide Participant with this method of payment depending on the development of local law.

Notifications

Exchange Control Information.  Participant must repatriate the proceeds from the sale of
Shares and any dividends received in relation to the Shares to India within a reasonable amount of
time (i.e., 90 days after receipt). Participant must maintain the foreign inward remittance
certificate received from the bank where the foreign currency is deposited in the event that the
Reserve Bank of India or the Employer requests proof of repatriation. It is Participant’s
responsibility to comply with applicable exchange control laws in India.

IRELAND 

Notifications

Director Notification Obligation.  Directors, shadow directors and secretaries of the
Company’s Irish Parent or Subsidiary are subject to certain notification requirements under the
Irish Companies Act. Directors, shadow directors1 and secretaries must notify the Irish
Parent or Subsidiary in writing of their interest in the Company and the number and class of Shares
or rights to which the interest relates within five days of the issuance or disposal of the Shares
or within five days of becoming aware of the event giving rise to the notification. This disclosure
requirement also applies to any rights or Shares acquired by the director’s spouse or children
(under the age of 18).

 

			
	1    A shadow director is an individual who is not on the board of directors of the
Irish Parent or Subsidiary but who has sufficient control so that the board of directors of the
Irish Parent or Subsidiary acts in accordance with the directions or instructions of the
individual.

C-6 

 

ITALY 

Terms and Conditions

Exercise of Option. This provision supplements Section 4 of the Agreement:

Notwithstanding anything in Section 6(d) of the Plan or Section 4 of the Agreement to the contrary,
Participant must exercise the Option using the cashless-sell-all method (as described in Section
4(c) of the Agreement) pursuant to which all Shares subject to the exercised Option will be sold
immediately upon exercise and the proceeds of sale, less the Exercise Price, any Tax-Related Items
and broker’s fees or commissions, will be remitted to Participant in accordance with any applicable
laws and regulations. Participant acknowledges that the Company’s designated broker is under no
obligation to arrange for the sale of the Shares at any particular price. To the extent that
regulatory requirements change, the Company reserves the right to permit exercises through any of
the means set forth in Section 4 of the Agreement.

Data Privacy.  This provision replaces Section 11 of the Agreement:

Participant understands that the Company and the Employer as the Privacy Representative of the
Company in Italy, may hold certain personal information about Participant, including, but not
limited to, Participant’s name, home address and telephone number, date of birth, social insurance
or other identification number, salary, nationality, job title, any Shares or directorships held in
the Company or any Parent or Subsidiary, details of all options or any other entitlement to Shares
awarded, canceled, exercised, vested, unvested or outstanding in Participant’s favor, and that the
Company and the Employer will process said data and other data lawfully received from third party
(“Personal Data”) for the exclusive purpose of managing and administering the Plan and complying
with applicable laws, regulations and European Community legislation.

Participant also understands that providing the Company with Personal Data is mandatory for
compliance with laws and is necessary for the performance of the Plan and that Participant’s denial
to provide Personal Data would make it impossible for the Company to perform its contractual
obligations and may affect Participant’s ability to participate in the Plan. The Controller of
personal data processing is Fusion-io, Inc., with registered offices at 2855 E. Cottonwood Parkway,
Suite 100, Salt Lake City, Utah 84121, U.S.A., and, pursuant to Legislative Decree no. 196/2003,
its Privacy Representative for Italy is Fusion-io, Ltd., with registered offices at Fusion-io, Ltd.
with registered offices at 400 Thames Valley Park Drive, Thames Valley Park, Reading, RG6 1PT
United Kingdom.

Participant understands that Personal Data will not be publicized, but it may be accessible by the
Employer as the Privacy Representative of the Company and within the Employer’s organization by its
internal and external personnel in charge of processing, and by the data Processor, if appointed.
The updated list of Processors and of the subjects to which Data are communicated will remain
available upon request at the Employer. Furthermore, Personal Data may be transferred to banks,
other financial institutions, transfer agents or brokers involved in the

C-7 

 

management and administration of the Plan. Participant understands that Personal Data may also be
transferred to the independent registered public accounting firm engaged by the Company, and also
to the legitimate addressees under applicable laws. Participant further understands that the
Company, the Employer (or any Parent or Subsidiary) will transfer Personal Data amongst themselves
as necessary for the purpose of implementation, administration and management of Participant’s
participation in the Plan, and that the Company, the Employer (or any Parent or Subsidiary) may
each further transfer Personal Data to third parties assisting the Company in the implementation,
administration and management of the Plan, including any requisite transfer of Personal Data to a
transfer agent, broker or other third party with whom Participant may elect to deposit any Shares
acquired under the Plan or any proceeds from the sale of such Shares. Such recipients may receive,
possess, use, retain and transfer Personal Data in electronic or other form, for the purposes of
implementing, administering and managing Participant’s participation in the Plan. Participant
understands that these recipients may be acting as Controllers, Processors or persons in charge of
processing, as the case may be, according to applicable privacy laws, and that they may be located
in or outside the European Economic Area, such as in the United States or elsewhere, in countries
that do not provide an adequate level of data protection as intended under Italian privacy law.

Should the Company exercise its discretion in suspending all necessary legal obligations connected
with the management and administration of the Plan, it will delete Personal Data as soon as it has
accomplished all the necessary legal obligations connected with the management and administration
of the Plan.

Participant understands that Personal Data processing related to the purposes specified above shall
take place under automated or non-automated conditions, anonymously when possible, that comply with
the purposes for which Personal Data is collected and with confidentiality and security provisions
as set forth by applicable laws and regulations, with specific reference to Legislative Decree no.
196/2003.

The processing activity, including communication, the transfer of Personal Data abroad, including
outside of the European Economic Area, as specified herein and pursuant to applicable laws and
regulations, does not require Participant’s consent thereto as the processing is necessary to
performance of law and contractual obligations related to implementation, administration and
management of the Plan. Participant understands that, pursuant to Paragraph 7 of the Legislative
Decree no. 196/2003, he or she has the right at any moment to, including, but not limited to,
obtain confirmation that Personal Data exists or not, access, verify its contents, origin and
accuracy, delete, update, integrate, correct, blocked or stop, for legitimate reason, the Personal
Data processing. To exercise privacy rights, the Participant should contact the Employer.
Furthermore, Participant is aware that Personal Data will not be used for direct marketing
purposes. In addition, Personal Data provided can be reviewed and questions or complaints can be
addressed by contacting Participant’s human resources department.

Plan Document Acknowledgement.  Participant acknowledges that he or she has read and
specifically and expressly approves the Agreement and the following Sections of the Agreement:
Notice of Grant; Section 1: Grant of Option; Section 2: Vesting Schedule; Section 3: Administrator

C-8 

 

Discretion; Section 4: Exercise of Options; Section 5: Method of Payment; Section 6: Tax
Obligations; Section 7: Rights as Stockholder; Section 8: No Guarantee of Continued Service;
Section 9: Nature of Grant; Section 10: No Advice Regarding Grant; Section 13: Non-Transferability;
Section 14: Binding Agreement; Section 15: Language; Section 16: Country-Specific Terms and
Conditions; Section 17: Additional Conditions to Issuance of Stock; Section 17: Language; Section
18: Plan Governs; Section 19: Administrator Authority; Section 20: Electronic Delivery and
Acceptance; Section 22: Agreement Severable; Section 23: Modifications to the Agreement; Section
24: Amendment, Suspension or Termination of the Plan; Section 25: Imposition of Other Requirements;
Section 26: Governing Law/Venue; and the Data Privacy provision of this Exhibit C.

JAPAN 

There are no country-specific provisions.

KOREA 

Notifications

Exchange Control Information.  If Participant realizes US$500,000 or more from the sale of
Shares, Korean exchange laws requires Participant to repatriate the proceeds to Korea within
eighteen months of the sale.

THE NETHERLANDS 

Notifications

Insider Trading Information.  Participant should be aware of the Dutch insider-trading
rules, which may impact the sale of Shares issued upon exercise of the Option. In particular,
Participant may be prohibited from effectuating certain transactions if Participant has inside
information about the Company.

Under Article 5:56 of the Dutch Financial Supervision Act, anyone who has “insider information”
related to an issuing company is prohibited from effectuating a transaction in securities in or
from the Netherlands. “Inside information” is defined as knowledge of specific information
concerning the issuing company to which the securities relate or the trade in securities issued by
such company, which has not been made public and which, if published, would reasonably be expected
to affect the share price, regardless of the development of the price. The insider could be any
employee of a Parent or Subsidiary in the Netherlands who has inside information as described
herein.

Given the broad scope of the definition of inside information, certain employees working at a
Parent or Subsidiary in the Netherlands may have inside information and, thus, would be prohibited
from effectuating a transaction in securities in the Netherlands at a time when Participant has
such inside information.

C-9 

 

If Participant is uncertain whether the insider-trading rules apply to Participant, he or she
should consult Participant’s personal legal advisor.

SINGAPORE 

Notifications

Securities Law Information.  The Option is being granted to Participant pursuant to the
“Qualifying Person” exemption under section 273(1)(f) of the Singapore Securities and Futures Act
(Chapter 289, 2006 Ed.) (“SFA”). The Plan has not been lodged or registered as a prospectus with
the Monetary Authority of Singapore. Participant should note that such Option grant is subject to
section 257 of the SFA and Participant will not be able to make any subsequent sale in Singapore,
or any offer of such subsequent sale of the Shares underlying the Option unless such sale or offer
in Singapore is made pursuant to the exemptions under Part XIII Division (1) Subdivision (4) (other
than section 280) of the SFA (Cap 289, 2006 Ed.).

Director Notification Obligation.  If Participant is a director, associate director or
shadow director of a Singaporean Parent or Subsidiary, Participant is subject to certain
notification requirements under the Singapore Companies Act. Among these requirements is an
obligation to notify the Singaporean Parent or Subsidiary in writing when Participant receives an
interest (e.g., Option, Shares) in the Company or any Parent or Subsidiary. In addition,
Participant must notify the Singaporean Parent or Subsidiary when he or she sells any Shares
(including when Participant sells the Shares acquired under the Plan). These notifications must be
made within two days of acquiring or disposing of any interest in the Company or any Parent or
Subsidiary. In addition, a notification must be made of Participant’s interests in the Company or
any Parent or Subsidiary within two days of becoming a director.

Insider Trading.  Participant should be aware of the Singapore insider trading rules, which
may impact the acquisition or disposal of Shares or rights to Shares under the Plan. Under the
Singapore insider-trading rules, Participant is prohibited from selling Shares when he or she is in
possession of information which is not generally available and which Participant knows or should
know will have a material effect on the price of Shares once such information is generally
available.

SWITZERLAND 

Notifications

Securities Law Information.  The Option is considered a private offering in Switzerland;
therefore, it is not subject to registration.

TAIWAN 

There are no country-specific provisions.

C-10 

 

UNITED KINGDOM 

Terms and Conditions

Tax Obligations.  The following provisions supplement Section 6 of the Agreement:

If payment or withholding of the Tax-Related Items (including the Employer’s Liability, as defined
below) is not made within ninety (90) days of the event giving rise to the Tax-Related Items (the
“Due Date”) or such other period specified in Paragraph 222(1)(c) of the U.K. Income Tax (Earnings
and Pensions) Act 2003, the amount of any uncollected income tax will constitute a loan owed by
Participant to the Employer, effective on the Due Date. Participant agrees that the loan will bear
interest at the then-current official rate of Her Majesty’s Revenue and Customs (“HMRC”), it will
be immediately due and repayable, and the Company or the Employer may recover it at any time
thereafter by any of the means referred to in Section 6 of the Agreement.

Notwithstanding the foregoing, if Participant is a director or executive officer of the Company
(within the meaning of Paragraph 13(k) of the U.S. Securities and Exchange Act of 1934, as
amended), Participant will not be eligible for such a loan to cover the income taxes. In the event
that Participant is such a director or executive officer and the income taxes are not collected
from or paid by Participant by the Due Date, the amount of any uncollected income taxes will
constitute a benefit to Participant on which additional income tax and national insurance
contributions (including the Employer’s Liability, as defined below) will be payable. Participant
will be responsible for reporting and paying any income tax and national insurance contributions
(including the Employer’s Liability, as defined below) due on this additional benefit directly to
HMRC under the self-assessment regime.

Joint Election.  As a condition of Participant’s participation in the Plan and the exercise
of the Option, Participant agrees to accept any liability for secondary Class 1 national insurance
contributions which may be payable by the Company and/or the Employer in connection with the Option
and any event giving rise to Tax-Related Items (the “Employer’s Liability”). Without prejudice to
the foregoing, Participant agrees to enter into a joint election with the Company, the form of such
joint election being formally approved by HMRC (the “Joint Election”), and any other required
consent or elections. Participant further agrees to enter into such other Joint Elections as may be
required between Participant and any successor to the Company and/or the Employer. Participant
further agrees that the Company and/or the Employer may collect the Employer’s Liability from
Participant by any of the means set forth in Section 6 of the Agreement.

If Participant does not enter into the Joint Election prior to the exercise of the Option,
Participant will forfeit the Option and any Exercised Shares will be returned to the Company at no
cost to the Company, without any liability to the Company and/or the Employer.

C-11 

 

[FORM OF UK JOINT ELECTION]

Onscreen disclaimer

If you are resident in the UK at the date stock options (“Options”) or restricted stock units
(“Restricted Stock Units” and collectively with Options “Awards”) are granted to you, you are
required to enter into a Joint Election to transfer to you any liability to employer’s National
Insurance Contributions (“NICs”) that may arise in connection with your Awards.

By accepting the Joint Election electronically via a link to the Fusion-io, Inc. (the “Company”)
intranet or the internet site of a third party involved in administering the Plan or via electronic
mail (“e-mail”) or such other means as may be specified by the Company, you are indicating your
acceptance of the Joint Election. You should read the Important Note on the Joint Election to
Transfer Employer NICs before accepting the Joint Election.

 1 

 

Important note on the Joint Election to Transfer Employer NICs

If you are liable to National Insurance contributions (“NICs”) in the UK at the date of grant of
your Awards, you are required to enter into a Joint Election to transfer any liability for
Employer’s NICs that may arise in connection with your Awards.

By entering into the Joint Election:

	 	•	 	you agree that any employer’s National Insurance liability that may arise in connection
with your Awards will be transferred to you; and

	 
	 	•	 	you will authorise your employer to recover an amount sufficient to cover this liability by
such methods including, but not limited to, deductions from your salary or other payments due,
or the sale of sufficient shares acquired pursuant to your Awards.

To enter into the Joint Election, please indicate your acceptance electronically via a link to the
Company intranet or the internet site of a third party involved in administering the Plan or via
electronic mail (“e-mail”) or such other means as may be specified by the Company to indicate your
acceptance of the Joint Election.

Please read the Joint Election carefully before accepting the Joint Election.

 2 

 

FUSION-IO, INC.

2011 EQUITY INCENTIVE PLAN

Employees in the United Kingdom

Election to Transfer the Employer’s National Insurance Liability to the Employee

This Election is between:

	A.	 	The individual who has obtained authorised access to this Election (the “Employee”), who is
employed by one of the employing companies listed in the attached schedule (the “Employer”) and who
is eligible to receive stock options (“Options”) or restricted stock units (“Restricted Stock
Units” and collectively with Options, “Awards”), pursuant to the Fusion-io, Inc. 2011 Equity
Incentive Plan (the “Plan”), and

	 
	B.	 	Fusion-io, Inc., a company incorporated in Delaware, U.S.A., whose offices are at 2855 E.
Cottonwood Parkway, Suite 100, Salt Lake City, Utah 84121, U.S.A
(the “Company”), which may grant Awards under the Plan and is entering into this Election on
behalf of the Employer.

	 
	1.	 	Introduction

	 
	1.1	 	This Election relates to the employer’s secondary Class 1 National Insurance Contributions (the
“Employer’s Liability”) which may arise on the occurrence of a chargeable event within paragraph
3B(1A)(a) of Schedule 1 of the Social Security Contributions and Benefits Act 1992 (“SSCBA”),
including:

	 	(a)	 	the acquisition of securities pursuant to Awards (within section 477(3)(a) of the
Income Tax (Earnings and Pensions) Act 2003 (“ITEPA”));

	 
	 	(b)	 	the assignment (if applicable) or release of the Awards in return for consideration
(within section 477(3)(b) of ITEPA);

	 
	 	(c)	 	the receipt of any other benefit in money or money’s worth in connection with the
Awards (within section 477(3)(c) of ITEPA); and/or

	 
	 	(d)	 	post-acquisition charges relating to the shares underlying the Awards (within section
427 of ITEPA),

	 	 	each a “Chargeable Event”. This Election is made in accordance with paragraph 3B(1) of
Schedule 1 to SSCBA.

	 
	1.2	 	This Election applies to all Awards granted to the Employee under the Plan on or after [_______] up to the termination date of the Plan.

	 
	1.3	 	This Election does not apply in relation to any liability, or any part of any liability,
arising as a result of regulations being given retrospective effect by virtue of section 4B(2) of
either the SSCBA, or the Social Security Contributions and Benefits (Northern Ireland) Act 1992.

3

 

	1.4	 	This Election does not apply to the extent that it relates to relevant employment income which
is employment income of the earner by virtue of Chapter 3A of Part VII of ITEPA (employment income:
securities with artificially depressed market value).

	 
	2.	 	The Election

	 
	 	 	The Employee and the Company jointly elect that the entire liability of the Employer to pay
the Employer’s Liability on the Chargeable Event is hereby transferred to the Employee. The
Employee understands that, by signing this Election, he or she will become personally
liable for the Employer’s Liability covered by this Election.

	 
	3.	 	Payment of the Employer’s Liability

	 
	3.1	 	The Employee hereby authorises the Company and/or the Employer to collect the Employer’s
Liability from the Employee at any time after the Chargeable Event:

	 	(a)	 	by deduction from salary or any other payment payable to the Employee at any time on or
after the date of the Chargeable Event; and/or

	 
	 	(b)	 	directly from the Employee by payment in cash or cleared funds; and/or

	 
	 	(c)	 	by arranging, on behalf of the Employee, for the sale of some of the securities which
the Employee is entitled to receive in respect of the Awards; and/or

	 
	 	(d)	 	by any other means specified in the Plan or the applicable Award agreement entered into
between the Employee and the Company.

	3.2	 	The Company hereby reserves for itself and the Employer the right to withhold the transfer of
any securities to the Employee in respect of the Awards until full payment of the Employer’s
Liability is received.

	 
	3.3	 	The Employee and the Company acknowledge that the Employer is under a duty to remit the
Employer’s Liability to Her Majesty’s Revenue & Customs (“HMRC”) on behalf of the Employee within
14 days after the end of the UK tax month during with the Chargeable Event occurs (or within 17
days if payments are made electronically).
The Employee agrees to pay to the Company and/or the Employer the Employer’s Liability on
demand at any time on or after the Chargeable Event and hereby authorizes the Company
and/or the Employer to account for the Employer’s Liability to HMRC.

	 
	4.	 	Duration of Election

	 
	4.1	 	The Employee and the Company agree to be bound by the terms of this Election regardless of
whether the Employee is transferred abroad or is not employed by the Employer on the date on which
the Employer’s Liability becomes due.

	 
	4.2	 	This Election will continue in effect until the earliest of the following:

4

 

	 	(a)	 	the Employee and the Company agree in writing that it should cease to have effect;

	 
	 	(b)	 	on the date the Company serves written notice on the Employee terminating its effect;

	 
	 	(c)	 	on the date HMRC withdraws approval of this Election; or

	 
	 	(d)	 	after due payment of the Employer’s Liability in respect of the entirety of the Awards to
which this Election relates or could relate, such that the Election ceases to have effect in
accordance with its terms.

5

 

Acceptance by the Employee

The Employee acknowledges that by signing this Election or electronically accepting this Election
in the manner proscribed by the Company, the Employee agrees to be bound by the terms of this
Election as stated above from the date of doing so.

	 	 	 	 	 

	Employee’s Signature
	 	 	 	 
	 

	 	 

	 	 
	Employee’s Printed Name
	 	 	 	 
	 

	 	 

	 	 
	Employee’s National Insurance Number
	 	 	 	 
	 

	 	 

	 	 
	Date
	 	 	 	 
	 

	 	 

	 	 
	AND
	 	 	 	 

Acceptance by the Company 

The Company acknowledges that, by signing this Election or arranging for the scanned signature of
an authorised representative to appear on this Election, the Company agrees to be bound by the
terms of this Election as stated above.

	 	 	 	 	 

	Name of Signatory
	 	 	 	 
	 

	 	 

	 	 
	Title of Signatory
	 	 	 	 
	 

	 	 

	 	 
	Signature
	 	 	 	 
	 

	 	 

	 	 
	Date
	 	 	 	 
	 

	 	 

	 	 

6

 

SCHEDULE
TO FORM OF ELECTION – EMPLOYING COMPANIES

  The employing company to which this Election relates is:

	 	(1)	 	Fusion-io Ltd.

					
	Registered Office:
	 	Mulberry, Shrubbs Hill Lane, Sunningdale,
Berkshire, SL5 0LD, UK

	Company Registration Number:

	 	6989169
	Corporation Tax District:

	 	Croydon

	Corporation Tax Reference:

	 	201 38730 26628
	PAYE District:

	 	Employers district

	PAYE Reference:

	 	581/WA40318

7

 

[FORM OF DANISH EMPLOYER STATEMENT]

SPECIAL NOTICE FOR PARTICIPANTS IN DENMARK

EMPLOYER STATEMENT

Pursuant to Section 3(1) of the Act on Stock Options in employment relations (the “Act”), you are
entitled to receive the following information regarding Fusion-io, Inc.’s (the “Company’s”)
offering of stock options (“Options”) and restricted stock units (“Restricted Stock Units” and
collectively with Options, “Awards”) under the Fusion-io, Inc. 2011 Equity Incentive Plan (the
“Plan”) in a separate written statement.

This statement contains information mentioned in the Stock Option Act. Additional terms and
conditions of the Awards are described in detail in the Plan, your applicable Option and/or
Restricted Stock Unit award agreement and any other grant materials, which have been made available
to you (the “Award Documents”). In the event of a conflict between a provision contained in this
Employer Statement and provisions contained in the Award Documents, this Employer Statement shall
prevail. Capitalized terms used but not defined herein, shall have the same meaning as terms
defined in the Plan or your applicable Award Documents.

	1.	 	Date of Grant

The grant date of your Award is the date that the Administrator approved a grant for you and
determined it would be effective.

	2.	 	Terms or conditions for grant of Awards

The grant of Awards under the Plan is made at the sole discretion of the Administrator. The
Administrator has very broad powers to determine who will receive Awards and when, and to set the
terms of the Awards. The Company may decide, in its sole discretion, not to make any grants of
Awards to you in the future. Under the terms of the Award Documents, you have no entitlement or
claim to receive future Awards.

	3.	 	Exercise/Vesting Date or Period

Your Awards shall vest over time and/or upon achievement of certain performance criteria, provided
that you continue as an employee of the Company or any Parent or Subsidiary, unless otherwise
affected by the Act. The exact vesting conditions applicable to your Award will be set forth in
your Award Documents. Your vested Options are generally exercisable any time after vesting and
before the Options terminate or expire, except as otherwise provided in your Award Documents.

	4.	 	Exercise Price for Options

During the exercise period, the Options can be exercised to purchase Shares in the Company at a
price corresponding to the Fair Market Value of the Shares at the time of grant as determined by
the Administrator, which shall not be less than 100% of the Fair Market Value of the Shares on the
date of grant.

1

 

	5.	 	Your rights upon Termination of Employment

Pursuant to the Act, the treatment of your Award rights upon termination of your relationship as a
Service Provider will be determined under Sections 4 and 5 of the Act unless the terms contained in
the Award Documents are more favorable to you than Sections 4 and 5 of the Act. If the terms
contained in the Award Documents are more favorable to you, then such terms will govern the
treatment of your Award rights upon termination of employment.

	6.	 	Financial Aspects of Awards

The offering of Awards has no immediate financial consequences for you. The value of the Shares you
acquire under the Plan is not taken into account when calculating holiday allowances, pension
contributions or other statutory consideration calculated on the basis of salary.

Shares are financial instruments and investing in stock will always have financial risk. The
possibility of profit at the time you sell your Shares will not only be dependent on the Company’s
financial development, but also on the general development of the stock market, among other things.
In addition, in the case of Options, if you exercise your Options and purchase Shares, the Shares
could decrease in value even below the exercise price.

[Day] [Month] 2011

Fusion-io, Inc.

2

 

[FORM OF US RESTRICTED STOCK UNIT AWARD AGREEMENT]

FUSION-IO, INC.

2011 EQUITY INCENTIVE PLAN

RESTRICTED STOCK UNIT AWARD AGREEMENT

Unless otherwise defined herein, the terms defined in the Fusion-io, Inc. 2011 Equity
Incentive Plan (the “Plan”) will have the same defined meanings in this Restricted Stock Unit Award
Agreement (the “Award Agreement”).

	I.	NOTICE OF RESTRICTED STOCK UNIT GRANT

	 
	 	Participant Name:

	 
	 	Address:

You have been granted the right to receive an Award of Restricted Stock Units, subject to the
terms and conditions of the Plan and this Award Agreement, as follows:

	 	 	 

	Grant Number	 	 
	 	 	 

	Date of Grant	 	 
	 	 	 

	Vesting Commencement Date
	 	 
	 	 	 

	Number of Restricted Stock Units	 	 
	 	 	 

Vesting Schedule:

Subject to any acceleration provisions contained in the Plan or set forth below, the
Restricted Stock Unit will vest in accordance with the following schedule:

[INSERT VESTING
SCHEDULE.]

In the event Participant ceases to be a Service Provider for any or no reason before
Participant vests in the Restricted Stock Unit, the Restricted Stock Unit and Participant’s right
to acquire any Shares hereunder will immediately terminate.

By Participant’s signature and the signature of the representative of Fusion-io, Inc. (the
“Company”) below, Participant and the Company agree that this Award of Restricted Stock Units is
granted under and governed by the terms and conditions of the Plan and this Award Agreement,
including the Terms and Conditions of Restricted Stock Unit Grant, attached hereto as Exhibit
A, all of which are made a part of this document. Participant has reviewed the Plan and this
Award Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to
executing this Award Agreement and fully understands all provisions of the Plan and Award
Agreement. Participant hereby agrees to accept as binding, conclusive and final all

1

 

decisions or interpretations of the Administrator upon any questions relating to the Plan and Award
Agreement. Participant further agrees to notify the Company upon any change in the residence
address indicated below.

	 	 	 

	PARTICIPANT:

	 	FUSION-IO, INC.
	 
	 	 
	 

	 	 
	Signature

	 	By
	 
	 	 
	 

	 	 
	Print Name

	 	Title
	 
	 	 
	Residence Address:
	 	 
	 
	 	 
	 

	 	 
	 
	 	 
	 

	 	 

2

 

EXHIBIT A

TERMS AND CONDITIONS OF RESTRICTED STOCK UNIT GRANT

1.      Grant. The Company hereby grants to the individual named in the
Notice of
Grant attached as Part I of this Award Agreement (the “Participant”) under the Plan an Award of
Restricted Stock Units, subject to all of the terms and conditions in this Award Agreement and the
Plan, which is incorporated herein by reference. Subject to Section 18(c) of the Plan, in the event
of a conflict between the terms and conditions of the Plan and the terms and conditions of this
Award Agreement, the terms and conditions of the Plan will prevail.

2.      Company’s Obligation to Pay. Each Restricted Stock Unit represents the right to
receive a Share on the date it vests. Unless and until the Restricted Stock Units will have vested
in the manner set forth in Section 3, Participant will have no right to payment of any such
Restricted Stock Units. Prior to actual payment of any vested Restricted Stock Units, such
Restricted Stock Unit will represent an unsecured obligation of the Company, payable (if at all)
only from the general assets of the Company. Any Restricted Stock Units that vest in accordance
with Sections 3 or 4 will be paid to Participant (or in the event of Participant’s death, to his or
her estate) in whole Shares, subject to Participant satisfying any applicable tax withholding
obligations as set forth in Section 7. Subject to the provisions of Section 4, such vested
Restricted Stock Units will be paid in Shares as soon as practicable after vesting, but in each
such case within the period ending no later than the date that is two and one-half (21/2) months from
the end of the Company’s tax year that includes the vesting date.

3.      Vesting Schedule. Except as provided in Section 4, and subject to
Section 5, the
Restricted Stock Units awarded by this Award Agreement will vest in accordance with the vesting
provisions set forth in the Notice of Grant. Restricted Stock Units scheduled to vest on a certain
date or upon the occurrence of a certain condition will not vest in Participant in accordance with
any of the provisions of this Award Agreement, unless Participant will have been continuously a
Service Provider from the Date of Grant until the date such vesting occurs.

4.      Administrator Discretion. The Administrator, in its discretion, may accelerate the
vesting of the balance, or some lesser portion of the balance, of the unvested Restricted Stock
Units at any time, subject to the terms of the Plan. If so accelerated, such Restricted Stock Units
will be considered as having vested as of the date specified by the Administrator.

Notwithstanding anything in the Plan or this Award Agreement to the contrary, if the vesting
of the balance, or some lesser portion of the balance, of the Restricted Stock Units is accelerated
in connection with Participant’s termination as a Service Provider (provided that such termination
is a “separation from service” within the meaning of Section 409A, as determined by the
Company), other than due to death, and if (x) Participant is a “specified employee”
within the meaning of Section 409A at the time of such termination as a Service Provider and (y)
the payment of such accelerated Restricted Stock Units will result in the imposition of additional
tax under Section 409A if paid to Participant on or within the six (6) month period following
Participant’s termination as a Service Provider, then the payment of such accelerated Restricted
Stock
Units will not be made until the date six (6) months and one (1) day following the date of
Participant’s termination as a Service Provider, unless the Participant dies

A-1

 

following his or her termination as a Service Provider, in which case, the Restricted Stock Units
will be paid in Shares to the Participant’s estate as soon as practicable following his or her
death. It is the intent of this Award Agreement to comply with the requirements of Section 409A so
that none of the Restricted Stock Units provided under this Award Agreement or Shares issuable
thereunder will be subject to the additional tax imposed under Section 409A, and any ambiguities
herein will be interpreted to so comply. For purposes of this Award Agreement, “Section 409A”
means Section 409A of the Code, and any proposed, temporary or final Treasury Regulations and
Internal Revenue Service guidance thereunder, as each may be amended from time to time.

5.      Forfeiture upon Termination of Status as a Service Provider. Notwithstanding any
contrary provision of this Award Agreement, the balance of the Restricted Stock Units that have not
vested as of the time of Participant’s termination as a Service Provider for any or no reason and
Participant’s right to acquire any Shares hereunder will immediately terminate.

6.      Death of Participant. Any distribution or delivery to be made to Participant under
this Award Agreement will, if Participant is then deceased, be made to Participant’s designated
beneficiary, or if no beneficiary survives Participant, the administrator or executor of
Participant’s estate. Any such transferee must furnish the Company with (a) written notice of his
or her status as transferee, and (b) evidence satisfactory to the Company to establish the validity
of the transfer and compliance with any laws or regulations pertaining to said transfer.

7.      Withholding of Taxes. Notwithstanding any contrary provision of this Award
Agreement, no certificate representing the Shares will be issued to Participant, unless and until
satisfactory arrangements (as determined by the Administrator) will have been made by Participant
with respect to the payment of income, employment and other taxes which the Company determines must
be withheld with respect to such Shares. The Administrator, in its sole discretion and pursuant to
such procedures as it may specify from time to time, may permit Participant to satisfy such tax
withholding obligation, in whole or in part (without limitation) by (a) paying cash, (b) electing
to have the Company withhold otherwise deliverable Shares having a Fair Market Value equal to the
minimum amount required to be withheld, (c) delivering to the Company already vested and owned
Shares having a Fair Market Value equal to the amount required to be withheld, or (d) selling a
sufficient number of such Shares otherwise deliverable to Participant through such means as the
Company may determine in its sole discretion (whether through a broker or otherwise) equal to the
amount required to be withheld. To the extent determined appropriate by the Company in its
discretion, it will have the right (but not the obligation) to satisfy any tax withholding
obligations by reducing the number of Shares otherwise deliverable to Participant. If Participant
fails to make satisfactory arrangements for the payment of any required tax withholding obligations
hereunder at the time any applicable Restricted Stock Units otherwise are scheduled to vest
pursuant to Sections 3 or 4, Participant will permanently forfeit such Restricted Stock Units and
any right to receive Shares thereunder and the Restricted Stock Units will be returned to the
Company at no cost to the Company.

8.      Rights as Stockholder. Neither Participant nor any person claiming under or through
Participant will have any of the rights or privileges of a stockholder of the Company in respect of
any Shares deliverable hereunder unless and until certificates
representing such Shares will have been issued, recorded on the records of the Company or its
transfer agents or registrars,

A-2

 

and delivered to Participant. After such issuance, recordation and delivery, Participant will have
all the rights of a stockholder of the Company with respect to voting such Shares and receipt of
dividends and distributions on such Shares.

9.      No Guarantee of Continued Service. PARTICIPANT ACKNOWLEDGES AND
AGREES THAT THE VESTING OF THE RESTRICTED STOCK UNITS PURSUANT TO THE VESTING SCHEDULE HEREOF IS
EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER AT THE WILL OF THE COMPANY (OR THE PARENT OR
SUBSIDIARY EMPLOYING OR RETAINING PARTICIPANT) AND NOT THROUGH THE ACT OF BEING HIRED, BEING
GRANTED THIS AWARD OF RESTRICTED STOCK UNITS OR ACQUIRING SHARES HEREUNDER. PARTICIPANT FURTHER
ACKNOWLEDGES AND AGREES THAT THIS AWARD AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE
VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED
ENGAGEMENT AS A SERVICE PROVIDER FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND WILL NOT
INTERFERE IN ANY WAY WITH PARTICIPANT’S RIGHT OR THE RIGHT OF THE COMPANY (OR THE PARENT OR
SUBSIDIARY EMPLOYING OR RETAINING PARTICIPANT) TO TERMINATE PARTICIPANT’S RELATIONSHIP AS A SERVICE
PROVIDER AT ANY TIME, WITH OR WITHOUT CAUSE.

10.      Address for Notices. Any notice to be given to the Company under the terms of this
Award Agreement will be addressed to the Company at Fusion-io, Inc., 2855 E. Cottonwood Parkway,
Suite 100, Salt Lake City, Utah 84121, or at such other address as the Company may hereafter
designate in writing.

11.      Grant is Not Transferable. Except to the limited extent provided in Section 6,
this grant and the rights and privileges conferred hereby will not be transferred, assigned,
pledged or hypothecated in any way (whether by operation of law or otherwise) and will not be
subject to sale under execution, attachment or similar process. Upon any attempt to transfer,
assign, pledge, hypothecate or otherwise dispose of this grant, or any right or privilege conferred
hereby, or upon any attempted sale under any execution, attachment or similar process, this grant
and the rights and privileges conferred hereby immediately will become null and void.

12.      Binding Agreement. Subject to the limitation on the transferability of this grant
contained herein, this Award Agreement will be binding upon and inure to the benefit of the heirs,
legatees, legal representatives, successors and assigns of the parties hereto.

13.      Additional Conditions to Issuance of Stock. If at any time the Company will
determine, in its discretion, that the listing, registration or qualification of the Shares upon
any securities exchange or under any state or federal law, or the consent or approval of any
governmental regulatory authority is necessary or desirable as a condition to the issuance of
Shares to Participant (or his or her estate), such issuance will not occur unless and until such
listing, registration, qualification, consent or approval will have been effected or obtained free
of any conditions not acceptable to the Company. Where the Company determines that the delivery of
the payment of any Shares will violate federal
securities laws or other applicable laws, the Company will defer delivery until the earliest
date at which the Company reasonably anticipates

A-3

 

that the delivery of Shares will no longer cause such violation. The Company will make all
reasonable efforts to meet the requirements of any such state or federal law or securities exchange
and to obtain any such consent or approval of any such governmental authority.

14.      Plan Governs. This Award Agreement is subject to all terms and provisions of the
Plan. In the event of a conflict between one or more provisions of this Award Agreement and one or
more provisions of the Plan, the provisions of the Plan will govern. Capitalized terms used and not
defined in this Award Agreement will have the meaning set forth in the Plan.

15.      Administrator Authority. The Administrator will have the power to interpret the
Plan and this Award Agreement and to adopt such rules for the administration, interpretation and
application of the Plan as are consistent therewith and to interpret or revoke any such rules
(including, but not limited to, the determination of whether or not any Restricted Stock Units have
vested). All actions taken and all interpretations and determinations made by the Administrator in
good faith will be final and binding upon Participant, the Company and all other interested
persons. No member of the Administrator will be personally liable for any action, determination or
interpretation made in good faith with respect to the Plan or this Award Agreement.

16.      Electronic Delivery. The Company may, in its sole discretion, decide to deliver
any documents related to Restricted Stock Units awarded under the Plan or future Restricted Stock
Units that may be awarded under the Plan by electronic means or request Participant’s consent to
participate in the Plan by electronic means. Participant hereby consents to receive such documents
by electronic delivery and agrees to participate in the Plan through any on-line or electronic
system established and maintained by the Company or another third party designated by the Company.

17.      Captions. Captions provided herein are for convenience only and are not to serve
as a basis for interpretation or construction of this Award Agreement.

18.      Agreement Severable. In the event that any provision in this Award Agreement will
be held invalid or unenforceable, such provision will be severable from, and such invalidity or
unenforceability will not be construed to have any effect on, the remaining provisions of this
Award Agreement.

19.      Modifications to the Agreement. This Award Agreement constitutes the entire
understanding of the parties on the subjects covered. Participant expressly warrants that he or she
is not accepting this Award Agreement in reliance on any promises, representations, or inducements
other than those contained herein. Modifications to this Award Agreement or the Plan can be made
only in an express written contract executed by a duly authorized officer of the Company.
Notwithstanding anything to the contrary in the Plan or this Award Agreement, the Company reserves
the right to revise this Award Agreement as it deems necessary or advisable, in its sole discretion
and without the consent of Participant, to comply with Section 409A or to otherwise avoid
imposition of any additional tax or income recognition under Section 409A in connection to this
Award of Restricted Stock Units.

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20.      Amendment, Suspension or Termination of the Plan. By accepting this Award,
Participant expressly warrants that he or she has received an Award of Restricted Stock Units under
the Plan, and has received, read and understood a description of the Plan. Participant understands
that the Plan is discretionary in nature and may be amended, suspended or terminated by the Company
at any time.

21.      Governing Law. This Award Agreement will be governed by the laws of the State of
Utah, without giving effect to the conflict of law principles thereof. For purposes of litigating
any dispute that arises under this Award of Restricted Stock Units or this Award Agreement, the
parties hereby submit to and consent to the jurisdiction of the State of Utah, and agree that such
litigation will be conducted in the courts of Utah County, Utah, or the federal courts for the
United States for the District of Utah in Salt Lake City, and no other courts, where this Award of
Restricted Stock Units is made and/or to be performed.

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[FORM OF NON-US RESTRICTED STOCK UNIT AND AWARD AGREEMENT]

FUSION-IO, INC.

2011 EQUITY INCENTIVE PLAN

NON-US RESTRICTED STOCK UNIT AWARD AGREEMENT

Unless otherwise defined herein, the terms defined in the Fusion-io, Inc. 2011 Equity
Incentive Plan (the “Plan”) will have the same defined meanings in this Restricted Stock Unit
Award Agreement, including any country-specific agreement thereto (the “Award Agreement”).

	I.	NOTICE OF RESTRICTED STOCK UNIT GRANT
	 
	 	Participant Name:
	 
	 	Address:

You have been granted the right to receive an Award of Restricted Stock Units, subject
to the terms and conditions of the Plan and this Award Agreement, as follows:

	 	 	 	 	 	 	 

	 

	 	Grant Number	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Date of Grant	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Vesting Commencement Date	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Number of Restricted Stock Units	 	 	 	 
	 

	 	 	 	 

	 	 

Vesting
Schedule:

Subject to any acceleration provisions contained in the Plan or set forth below, the
Restricted Stock Unit will vest in accordance with the following schedule:

[INSERT VESTING SCHEDULE.]

In the event Participant ceases to be a Service Provider for any or no reason before
Participant vests in the Restricted Stock Unit, the Restricted Stock Unit and Participant’s right
to acquire any Shares hereunder will immediately terminate.

By Participant’s signature and the signature of the representative of Fusion-io, Inc. (the
“Company”) below, Participant and the Company agree that this Award of Restricted Stock Units is
granted under and governed by the terms and conditions of the Plan and this Award Agreement,
including the Terms and Conditions of Restricted Stock Unit Grant for Non-U.S. Participants,
attached hereto as Exhibit A and the Country-Specific Terms and Conditions of Restricted
Stock Unit Grant for Non-U.S. Participants, attached hereto as
Exhibit B, all of which are
made a part of the Award Agreement. Participant has reviewed the Plan and this Award Agreement in
their entirety, has had an opportunity to obtain the advice of counsel prior to executing this
Award Agreement and fully understands all provisions of the Plan and Award

1

 

Agreement. Participant hereby agrees to accept as binding, conclusive and final all decisions or
interpretations of the Administrator upon any questions relating to the Plan and Award Agreement.
Participant further agrees to notify the Company upon any change in the residence address indicated
below.

	 	 	 

	PARTICIPANT:

	 	FUSION-IO, INC.
	 
	 	 
	 
	 	 
	 

	 	 
	Signature

	 	By
	 
	 	 
	 

	 	 
	Print Name

	 	Title
	 
	 	 
	Residence Address:
	 	 
	 
	 	 
	 
	 	 
	 
	 	 
	 
	 	 

2

 

EXHIBIT A

TERMS AND CONDITIONS OF RESTRICTED STOCK UNIT GRANT

FOR NON-U.S. PARTICIPANTS

1.      Grant. The Company hereby grants to the individual named in the Notice of
Grant attached as Part I of this Award Agreement (the “Participant”) under the Plan an Award of
Restricted Stock Units, subject to all of the terms and conditions in this Award Agreement and the
Plan, which is incorporated herein by reference. Subject to Section 18(c) of the Plan, in the
event of a conflict between the terms and conditions of the Plan and the terms and conditions of
this Award Agreement, the terms and conditions of the Plan will prevail.

2.      Company’s Obligation to Pay. Each Restricted Stock Unit represents the right to
receive a Share on the date it vests. Unless and until the Restricted Stock Units will have vested
in the manner set forth in Section 3, Participant will have no right to payment of any such
Restricted Stock Units. Prior to actual payment of any vested Restricted Stock Units, such
Restricted Stock Unit will represent an unsecured obligation of the Company, payable (if at all)
only from the general assets of the Company. Any Restricted Stock Units that vest in accordance
with Sections 3 or 4 will be paid to Participant (or in the event of Participant’s death, to his or
her estate) in whole Shares, subject to Participant satisfying any applicable tax withholding
obligations as set forth in Section 7. Subject to the provisions of Section 4, such vested
Restricted Stock Units will be paid in Shares as soon as practicable after vesting, but in each
such case within the period ending no later than the date that is two
and one-half (21⁄2) months from
the end of the Company’s tax year that includes the vesting date.

3.      Vesting Schedule. Except as provided in Section 4, and subject to Section 5, the
Restricted Stock Units awarded by this Award Agreement will vest in accordance with the vesting
provisions set forth in the Notice of Grant. Restricted Stock Units scheduled to vest on a certain
date or upon the occurrence of a certain condition will not vest in Participant in accordance with
any of the provisions of this Award Agreement, unless Participant will have been continuously a
Service Provider from the Date of Grant until the date such vesting occurs.

4.      Administrator Discretion. The Administrator, in its discretion, may accelerate the
vesting of the balance, or some lesser portion of the balance, of the unvested Restricted Stock
Units at any time, subject to the terms of the Plan. If so accelerated, such Restricted Stock Units
will be considered as having vested as of the date specified by the Administrator.

Notwithstanding anything in the Plan or this Award Agreement to the contrary, if Participant
is a U.S. tax resident and the vesting of the balance, or some lesser portion of the balance, of
the Restricted Stock Units is accelerated in connection with Participant’s termination as a Service
Provider (provided that such termination is a “separation from service” within the meaning of
Section 409A, as determined by the Company), other than due to death, and if (x) Participant is a
“specified employee” within the meaning of Section 409A at the time of such termination as a
Service Provider and (y) the payment of such accelerated Restricted Stock Units will result in the
imposition of additional tax under Section 409A if paid to Participant on or within the six (6)
month period following Participant’s termination as a Service Provider, then the payment of such
accelerated Restricted Stock Units will not be made until the date six (6)

A-1

 

months and one (1) day following the date of Participant’s termination as a Service Provider,
unless Participant dies following his or her termination as a Service Provider, in which case, the
Restricted Stock Units will be paid in Shares to Participant’s estate as soon as practicable
following his or her death.

5.      Forfeiture upon Termination of Status as a Service Provider. Notwithstanding any
contrary provision of this Award Agreement, the balance of the Restricted Stock Units that have not
vested as of the time of Participant’s termination as a Service Provider for any or no reason and
Participant’s right to acquire any Shares hereunder will immediately terminate.

6.      Death of Participant. Any distribution or delivery to be made to Participant under
this Award Agreement will, if Participant is then deceased, be made to Participant’s designated
beneficiary, or if no beneficiary survives Participant, the administrator or executor of
Participant’s estate. Any such transferee must furnish the Company with (a) written notice of his
or her status as transferee, and (b) evidence satisfactory to the Company to establish the validity
of the transfer and compliance with any laws or regulations pertaining to said transfer.

7.      Withholding of Taxes. Notwithstanding any contrary provision of this Award
Agreement, no certificate representing the Shares will be issued to Participant, unless and until
satisfactory arrangements (as determined by the Administrator) will have been made by Participant
with respect to the payment of income, employment and other taxes which the Company determines must
be withheld with respect to such Shares. Regardless of any action the Company and/or Participant’s
employer (the “Employer”) take with respect to any or all income tax, social insurance, payroll
tax, payment on account, or other tax-related items related to Participant’s participation in the
Plan and legally applicable to Participant (“Tax-Related Items”), Participant acknowledges that the
ultimate liability for all Tax-Related Items is and remains his or her responsibility and may
exceed the amount actually withheld by the Company or the Employer. Participant further
acknowledges that the Company and/or the Employer (i) make no representations or undertakings
regarding the treatment of any Tax-Related Items in connection with any aspect of the Award of
Restricted Stock Units, including, but not limited to, the grant or vesting of the Restricted Stock
Units, the acquisition of Shares upon vesting, the subsequent sale of Shares acquired at vesting,
and the receipt of any dividends; and (ii) do not commit to and are under no obligation to
structure the terms of the grant or any other aspect of the Award of Restricted Stock Units to
reduce or eliminate Participant’s liability for Tax-Related Items or achieve any particular tax
result. Further, if Participant has become subject to tax in more than one jurisdiction between the
Date of Grant and the date of any relevant taxable or tax withholding event, Participant
acknowledges that the Company and/or the Employer (or former employer, as applicable) may be
required to withhold or account for Tax-Related Items in more than one jurisdiction.

Prior to any relevant taxable or tax withholding event, as applicable, Participant shall pay
or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all
Tax-Related Items. In this regard, Participant authorizes the Company and/or the Employer, or
their respective agents, at their discretion, to satisfy the obligations with regard to all
Tax-Related Items by one or a combination of the following:

(a)       withholding from Participant’s wages or other cash compensation paid to

A-2

 

Participant by the Company and/or the Employer;

(b)      withholding from the proceeds of the sale of Shares acquired at vesting, either through a
voluntary sale or through a mandatory sale arranged by the Company (on Participant’s behalf
pursuant to this authorization); or

(c)      withholding in Shares to be acquired at vesting.

To avoid any negative accounting treatment, the Company may withhold or account for
Tax-Related Items by considering applicable minimum statutory withholding amounts or other
applicable withholding rates. If the obligation for Tax-Related Items is satisfied by withholding
in Shares, for tax purposes, Participant will be deemed to have been issued the full number of
Shares subject to the vested Restricted Stock Units, notwithstanding that a number of Shares are
held back solely for the purpose of paying the Tax-Related Items due as a result of any aspect of
the Award of Restricted Stock Units and Participant’s participation in the Plan.

Finally, Participant shall pay to the Company or the Employer any amount of the Tax-Related
Items that the Company or the Employer may be required to withhold or account for as a result of
Participant’s participation in the Plan that cannot be satisfied by the means previously
described. If Participant fails to make satisfactory arrangements for the payment of any required
Tax-Related Items hereunder at the time of vesting, Participant acknowledges and agrees that if
Participant fails to make satisfactory arrangements for the payment of any Tax-Related Items
hereunder at the time any applicable Restricted Stock Units otherwise are scheduled to vest
pursuant to Sections 3 or 4, Participant will permanently forfeit such Restricted Stock Units and
any right to receive Shares thereunder and the Restricted Stock Units will be returned to the
Company at no cost to the Company.

8.     
Rights as Stockholder. Neither Participant nor any person claiming under or
through Participant will have any of the rights or privileges of a stockholder of the Company in
respect of any Shares deliverable hereunder unless and until certificates representing such Shares
will have been issued, recorded on the records of the Company or its transfer agents or registrars,
and delivered to Participant. After such issuance, recordation and delivery, Participant will have
all the rights of a stockholder of the Company with respect to voting such Shares and receipt of
dividends and distributions on such Shares.

9.     
No Guarantee of Continued Service. PARTICIPANT ACKNOWLEDGES AND AGREES
THAT THE VESTING OF THE RESTRICTED STOCK UNITS PURSUANT TO THE VESTING
SCHEDULE HEREOF IS EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER AT THE WILL OF THE
COMPANY, THE EMPLOYER (OR ANY PARENT OR SUBSIDIARY) AND NOT THROUGH THE ACT OF BEING HIRED, BEING
GRANTED THIS AWARD OF RESTRICTED STOCK UNITS OR ACQUIRING SHARES HEREUNDER.
PARTICIPANT FURTHER ACKNOWLEDGES AND AGREES THAT THIS AWARD AGREEMENT, THE
TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN
EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS A SERVICE PROVIDER FOR THE VESTING

A-3

 

PERIOD, FOR ANY PERIOD, OR AT ALL, AND WILL NOT INTERFERE IN ANY WAY WITH PARTICIPANT’S RIGHT OR
THE RIGHT OF THE COMPANY, THE EMPLOYER (OR ANY PARENT OR SUBSIDIARY) TO TERMINATE PARTICIPANT’S
RELATIONSHIP AS A SERVICE PROVIDER AT ANY TIME, WITH OR WITHOUT CAUSE.

10.    
Nature of Award. In accepting the Award of Restricted Stock Units,
Participant acknowledges that:

(a)      the Plan is established voluntarily by the Company, it is discretionary in nature and may
be amended, altered, suspended or terminated by the Company at any time;

(b)      the Award of Restricted Stock Units is voluntary and occasional and does not create any
contractual or other right to receive future grants of Restricted Stock Units, or benefits in lieu
of Restricted Stock Units, even if Restricted Stock Units have been granted repeatedly in the past;

(c)      all decisions with respect to future awards of Restricted Stock Units, if any, will be at
the sole discretion of the Company;

(d)      Participant is voluntarily participating in the Plan;

(e)      the Award of Restricted Stock Units and the Shares underlying the Restricted Stock Units
are an extraordinary item that do not constitute compensation of any kind for services of any kind
rendered to the Company or the Employer and which is outside the scope of Participant’s employment
or service contract, if any;

(f)      the Award of Restricted Stock Units and the Shares underlying the Restricted Stock Units
are not intended to replace any pension rights or compensation;

(g)      the Award of Restricted Stock Units and the Shares underlying the Restricted Stock Units
are not part of normal or expected compensation or salary for any purpose, including, but not
limited to, calculating any severance, resignation, termination, redundancy, dismissal or
end-of-service payments, bonuses, long-service awards, pension or retirement or welfare benefits or
similar payments, and in no event should be considered as compensation for, or relating in any way
to, past services for the Company, the Employer or any Parent or Subsidiary;

(h)      the future value of the underlying Shares is unknown and cannot be predicted with
certainty;

(i)      no claim or entitlement to compensation or damages shall arise from the forfeiture of the
Award of Restricted Stock Units or a diminution in value of the Shares acquired at vesting
resulting from a termination of Participant’s relationship as a Service Provider (for any reason
whatsoever and whether or not in breach of local labor laws), and in consideration of the Award of
Restricted Stock Units to which Participant is otherwise not entitled, Participant irrevocably
agrees never to institute any claim against the Company and/or the Employer, waives Participant’s
ability, if any, to bring any such claim, and releases the Company and/or the

A-4

 

Employer from any such claim; if, notwithstanding the foregoing, any such claim is allowed by a
court of competent jurisdiction, then, by participating in the Plan, Participant shall be deemed
irrevocably to have agreed not to pursue such claim and agrees to execute any and all documents
necessary to request dismissal or withdrawal of such claims; and

(j)      in the event of a termination of Participant’s relationship as a Service Provider (whether
or not in breach of contract or local labor laws), Participant’s right to vest in the Restricted
Stock Units under the Plan, if any, will terminate effective as of the date that Participant is no
longer actively a Service Provider and will not be extended by any notice period mandated under
local law (e.g., active employment would not include a period of “garden leave” or similar period
pursuant to local law); the Administrator shall have the exclusive discretion to determine when
Participant is no longer actively employed for purposes of the Award of Restricted Stock Units.

11.      No Advice Regarding Award. The Company is not providing any tax, legal, or
financial advice, nor is the Company making any recommendations regarding Participant’s
participation in the Plan or his or her acquisition or sale of the underlying Shares. Participant
is hereby advised to consult with his or her own personal tax, legal and financial advisors
regarding Participant’s participation in the Plan before taking any action related to the Plan.

12.     
Data Privacy. Participant hereby explicitly and unambiguously consents to the
collection, use and transfer, in electronic or other form, of Participant’s personal data as
described in this Award Agreement and any other Award materials by and among, as applicable, the
Employer, the Company and any Parent or Subsidiary for the exclusive purpose of implementing,
administering and managing his or her participation in the Plan. Participant understands that the
Company and the Employer may hold certain personal information about Participant, including, but
not limited to, Participant’s name, home address and telephone number, date of birth, social
insurance number or other identification number, salary, nationality, job title, any Shares or
directorships held in the Company, details of all Restricted Stock Units or any other entitlement
to Shares awarded, canceled, exercised, vested, unvested or outstanding in Participant’s favor, for
the exclusive purpose of implementing, administering and managing the Plan (“Data”). Participant
understands that Data may be transferred to [insert name of broker] or such other stock plan
service provider selected by the Company in the future to assist the Company with the
implementation, administration and management of the Plan. Participant understands that the
recipients of Data may be located in the United States or elsewhere, and that the recipient’s
country (e.g., the United States) may have different data privacy laws and protections than
Participant’s country. Participant understands that he or she may request a list with the names
and addresses of any potential recipients of Data by contacting Participant’s local human
resources representative. Participant authorizes the Company, [insert broker] and any other
possible recipients which may assist the Company (presently or in the future) with implementing,
administering and managing the Plan to receive, possess, use, retain and transfer the Data, in
electronic or other form, for the sole purpose of implementing, administering and managing
Participant’s participation in the Plan. Participant understands that Data will be held only as
long as is necessary to implement, administer and manage his or her participation in the Plan.
Participant understands that he or she may, at any time, view Data, request additional information
about the storage and processing of Data, require any necessary amendments to

A-5

 

Data or refuse or withdraw the consents herein, in any case without cost, by contacting in writing
Participant’s local human resources representative. Participant understands, however, that
refusing or withdrawing his or her consent may affect Participant’s ability to participate in the
Plan. For more information on the consequences of Participant’s refusal to consent or withdrawal
of consent, Participant understands that he or she may contact his or her local human resources
representative.

13.      Address for Notices. Any notice to be given to the Company under the terms of this
Award Agreement will be addressed to the Company at Fusion-io, Inc., 2855 E. Cottonwood Parkway,
Suite 100, Salt Lake City, Utah 84121, or at such other address as the Company may hereafter
designate in writing.

14.      Grant is Not Transferable. Except to the limited extent provided in Section 6,
this grant and the rights and privileges conferred hereby will not be transferred, assigned,
pledged or hypothecated in any way (whether by operation of law or otherwise) and will not be
subject to sale under execution, attachment or similar process. Upon any attempt to transfer,
assign, pledge, hypothecate or otherwise dispose of this grant, or any right or privilege conferred
hereby, or upon any attempted sale under any execution, attachment or similar process, this grant
and the rights and privileges conferred hereby immediately will become null and void.

15.      Country-Specific Terms and Conditions. Notwithstanding any provision in this Award
Agreement to the contrary, the Award of Restricted Stock Units shall be subject to any special
terms and provisions as set forth in Exhibit B to this Award Agreement for Participant’s
country. Moreover, if Participant relocates to one of the countries included in Exhibit B, the
special terms and conditions for such country will apply to Participant, to the extent the Company
determines that the application of such terms and conditions is necessary or advisable in order to
comply with local law or facilitate the administration of the Plan. Exhibit B constitutes part
of this Award Agreement.

16.      Binding Agreement. Subject to the limitation on the transferability of this
grant contained herein, this Award Agreement will be binding upon and inure to the benefit of the
heirs, legatees, legal representatives, successors and assigns of the parties hereto.

17.      Additional Conditions to Issuance of Common Stock. If at any time the Company will
determine, in its discretion, that the listing, registration or qualification of the Shares upon
any securities exchange or under any state, federal or foreign law, or the consent or approval of
any governmental regulatory authority is necessary or desirable as a condition to the issuance of
Shares to Participant (or his or her estate), such issuance will not occur unless and until such
listing, registration, qualification, consent or approval will have been effected or obtained free
of any conditions not acceptable to the Company. Where the Company determines that the delivery of
the payment of any Shares will violate state, federal or foreign securities laws or other
applicable laws, the Company will defer delivery until the earliest date at which the Company
reasonably anticipates that the delivery of Shares will no longer cause such violation. The
Company will make all reasonable efforts to meet the requirements of any such state, federal or
foreign law or securities exchange and to obtain any such consent or approval of any such
governmental authority.

A-6

 

18.      Plan Governs. This Award Agreement is subject to all terms and provisions of the
Plan. In the event of a conflict between one or more provisions of this Award Agreement and one or
more provisions of the Plan, the provisions of the Plan will govern. Capitalized terms used and not
defined in this Award Agreement will have the meaning set forth in the Plan.

19.      Language. If Participant has received this Award Agreement or any other
document related to the Plan translated into a language other than English and if the meaning of
the translated version is different from the English version, the English version will control.

20.      Administrator Authority. The Administrator will have the power to interpret the
Plan and this Award Agreement and to adopt such rules for the administration, interpretation and
application of the Plan as are consistent therewith and to interpret or revoke any such rules
(including, but not limited to, the determination of whether or not any Restricted Stock Units have
vested). All actions taken and all interpretations and determinations made by the Administrator
in good faith will be final and binding upon Participant, the Company and all other interested
persons. No member of the Administrator will be personally liable for any action, determination
or interpretation made in good faith with respect to the Plan or this Award Agreement.

21.      Electronic Delivery and Acceptance. The Company may, in its sole discretion,
decide to deliver any documents related to Restricted Stock Units awarded under the Plan or future
Restricted Stock Units that may be awarded under the Plan by electronic means or request
Participant’s consent to participate in the Plan by electronic means. Participant hereby consents
to receive such documents by electronic delivery and agrees to participate in the Plan through any
on-line or electronic system established and maintained by the Company or another third party
designated by the Company.

22.      Captions. Captions provided herein are for convenience only and are not to serve
as a basis for interpretation or construction of this Award Agreement.

23.      Agreement Severable. In the event that any provision in this Award Agreement will
be held invalid or unenforceable, such provision will be severable from, and such invalidity or
unenforceability will not be construed to have any effect on, the remaining provisions of this
Award Agreement.

24.      Modifications to the Award Agreement. This Award Agreement constitutes the
entire understanding of the parties on the subjects covered. Participant expressly warrants that
he or she is not accepting this Award Agreement in reliance on any promises, representations, or
inducements other than those contained herein. Modifications to this Award Agreement or the Plan
can be made only in an express written contract executed by a duly authorized officer of the
Company. Notwithstanding anything to the contrary in the Plan or this Award Agreement, the Company
reserves the right to revise this Award Agreement as it deems necessary or advisable, in its sole
discretion and without the consent of Participant, to comply with Section 409A for U.S. taxpayers
or to otherwise avoid imposition of any additional tax or income recognition under Section 409A for
U.S. taxpayers or additional tax or income recognition outside of the U.S. in connection to this
Award of Restricted Stock Units.

A-7

 

25.     
Amendment, Suspension or Termination of the Plan. By accepting this Award,
Participant expressly warrants that he or she has received an Award of Restricted Stock Units under
the Plan, and has received, read and understood a description of the Plan. Participant
understands that the Plan is discretionary in nature and may be amended, suspended or terminated by
the Company at any time.

26.     
Imposition of Other Requirements. The Company reserves the right to impose other
requirements on Participant’s participation in the Plan, on the Award of Restricted Stock Units and
on any Shares underlying the Restricted Stock Units, to the extent the Company determines it is
necessary or advisable in order to comply with local law or facilitate the administration of the
Plan, and to require Participant to sign any additional agreements or undertakings that may be
necessary to accomplish the foregoing.

27.     
Governing Law/Venue. This Award Agreement will be governed by the laws of the
State of Utah, without giving effect to the conflict of law principles thereof. For purposes of
litigating any dispute that arises under this Award of Restricted Stock Units or this Award
Agreement, the parties hereby submit to and consent to the jurisdiction of the State of Utah, and
agree that such litigation will be conducted in the courts of Utah County, Utah, or the federal
courts for the United States for the District of Utah in Salt Lake City, and no other courts, where
this Award of Restricted Stock Units is made and/or to be performed.

A-8

 

EXHIBIT B

FUSION-IO, INC.

2001 EQUITY INCENTIVE PLAN

COUNTRY-SPECIFIC TERMS AND CONDITIONS OF RESTRICTED STOCK UNIT

GRANT FOR NON-U.S. PARTICIPANTS

Terms and Conditions

This Exhibit B includes additional terms and conditions that govern the Award of Restricted Stock
Units granted to Participant under the Plan if Participant resides in one of the countries listed
below. Certain capitalized terms used but not defined in this Exhibit B have the meanings set
forth in the Plan and the Award Agreement.

Notifications

This Exhibit B also includes information regarding exchange controls and certain other issues of
which Participant should be aware with respect to his or her participation in the Plan. The
information is based on the securities, exchange control and other laws in effect in the respective
countries as of May 2011. Such laws are often complex and change frequently. The Company strongly
recommends that Participant not rely on the information in this Exhibit B as the only source of
information relating to the consequences of Participant’s participation in the Plan because the
information may be out of date at the time that the Restricted Stock Units vest and Shares are
acquired or Participant sells the Shares acquired under the Plan.

In addition, the information contained herein is general in nature and may not apply to
Participant’s particular situation, and the Company is not in a position to assure Participant of
a particular result. Accordingly, Participant is advised to seek appropriate professional advice
as to how the relevant laws in Participant’s country may apply to his or her situation.

Certain exchange control reporting requirements may apply upon the vesting of the Restricted Stock
Units or the sale of the Shares and it is Participant’s obligation to consult with his or her
personal advisor regarding the applicable exchange control reporting requirements in Participant’s
country and to comply with the applicable exchange control requirements.

Finally, if Participant is a citizen or resident of a country other than the one in which
Participant is currently working, transfers employment after the Date of Grant, or is considered a
resident of another country for local law purposes, the notifications contained herein may not be
applicable to Participant, and the Company shall, in its discretion, determine to what extent the
terms and conditions contained herein shall be applicable to Participant.

B-1

 

AUSTRALIA

Notifications

Securities
Law Information. If Participant acquires Shares under the Plan and
subsequently offers the Shares for sale to a person or entity resident in Australia, such an offer
may be subject to disclosure requirements under Australian law, and Participant should obtain
legal advice regarding any applicable disclosure requirements prior to making any such offer.

BELGIUM

There are no country-specific provisions.

CANADA

Terms and Conditions

Termination
of Relationship as a Service Provider. This provision supplements the
Notice of Grant and Sections 3 and 4 of the Award Agreement:

In the event of involuntary termination of Participant’s relationship as a Service Provider
(whether or not in breach of contract or local labor laws), Participant’s right to vest in the
Restricted Stock Units under the Plan, if any, will terminate effective as of the date that is the
earlier of: (1) the date Participant receives notice of termination of Participant’s relationship
as a Service Provider from the Company or the Employer, or (2) the date Participant is no longer
actively providing service to the Company or the Employer regardless of any notice period or
period of pay in lieu of such notice required under local law (including, but not limited to,
statutory law, regulatory law and/or common law); the Administrator shall have the exclusive
discretion to determine when Participant is no longer actively proving service for purposes of the
Award of Restricted Stock Units.

THE FOLLOWING PROVISIONS ONLY APPLY IF YOU ARE A RESIDENT OF QUEBEC

French
Language Provision. The parties acknowledge that it is their express wish that
the Award Agreement, as well as all documents, notices and legal proceedings entered into, given
or instituted pursuant hereto or relating directly or indirectly hereto, be drawn up in English.

Les
parties reconnaissent avoir exigé la rédaction en anglais de cette convention, ainsi
que de tous documents, avis et procédures judiciaires, exécutés, donnés ou intentés en vertu de,
ou liés directement ou indirectement à, la présente convention.

Data
Privacy. This provision supplements Section 12 of the Award Agreement:

Participant hereby authorizes the Company and the Company’s representatives to discuss with and
obtain all relevant information from all personnel, professional or not, involved in the
administration and operation of the Plan. Participant further authorizes the Company (or any

B-2

 

Parent or Subsidiary) and the Administrator to disclose and discuss the Plan with their
advisors. Participant further authorizes the Company (or any Parent or Subsidiary) to record such
information and to keep such information in Participant’s employee file.

CHINA

Terms and Conditions

Payment After Vesting. This provision supplements the Notice of Grant and Section 2 of the Award
Agreement:

Due to local regulatory requirements, upon the vesting of the Restricted Stock Units, Participant
agrees to the immediate sale of any Shares to be issued at vesting and settlement of the Restricted
Stock Units. Participant further agrees that the Company is authorized to instruct its designated
broker to assist with the mandatory sale of such Shares (on Participant’s behalf pursuant to this
authorization) and Participant expressly authorizes the Company’s designated broker to complete the
sale of such Shares. Participant acknowledges that the Company’s designated broker is under no
obligation to arrange for the sale of the Shares at any particular price. Upon the sale of the
Shares, the Company agrees to pay Participant the cash proceeds from the sale, less any brokerage
fees or commissions and subject to any obligation to satisfy Tax-Related Items. These requirements
will not apply to non-PRC citizens.

Exchange
Control Information. Participant understands and agrees that, pursuant to local
exchange control requirements, Participant will be required to immediately repatriate the cash
proceeds from the sale of Shares underlying the Restricted Stock Units. Participant further
understands that, under local law, such repatriation of his or her cash proceeds may need to be
effectuated through a special exchange control account established by the Company (or any Parent
or Subsidiary) or the Employer, and Participant hereby consents and agrees that any proceeds from
the sale of Shares may be transferred to such special exchange control account prior to being
delivered to Participant. The Company is under no obligation to secure any exchange conversion
rate, and the Company may face delays in converting the proceeds to local currency due to exchange
control restrictions in China. Participant agrees to bear any currency fluctuation risk between
the time the Shares are sold and the time the sale proceeds are distributed through any such
special exchange control account. Participant further agrees to comply with any other requirements
that may be imposed by the Company in the future in order to facilitate compliance with exchange
control requirements in China. These requirements will not apply to non-PRC citizens.

DENMARK

Notifications

Exchange
Control and Tax Notification. Participant may hold Shares acquired under the Plan
in a safety-deposit account (e.g., a brokerage account) with either a Danish bank or with an
approved foreign broker or bank. If the Shares are held with a foreign broker or bank,

B-3

 

Participant is required to inform the Danish Tax Administration about the safety-deposit account.
For this purpose, Participant must file a Declaration V (Erklaering V) with the Danish Tax
Administration. Both Participant and the broker or bank must sign the Declaration V. By signing
the Declaration V, the broker or bank undertakes an obligation, without further request each year,
to forward information to the Danish Tax Administration concerning the Shares in the account. By
signing the Declaration V, Participant authorizes the Danish Tax Administration to examine the
account. A sample of the Declaration V can be found at the following website:
www.skat.dk/Blanketter/49023.pdf.

In addition, if Participant opens a brokerage account (or a deposit account with a U.S. bank), the
brokerage account (or bank account, as applicable) will be treated as a deposit account because
cash can be held in the account. Therefore, Participant must also file a Declaration K (Erklaering
K) with the Danish Tax Administration. Both Participant and the broker must sign the Declaration
K. By signing the Declaration K, the broker undertakes an obligation, without further request each
year, to forward information to the Danish Tax Administration concerning the content of the
deposit account. By signing the Declaration K, Participant authorizes the Danish Tax
Administration to examine the account. A sample of Declaration K can be found at the following
website: www. skat. dk/Blanketter/49021.pdf.

Stock
Option Act. Participant acknowledges that he or she received an Employer Statement
in Danish which sets forth the terms of the Award of Restricted Stock Units.

FRANCE

Notifications

Consent to Receive Information in English. By accepting the Award of Restricted Stock
Units, Participant confirms having read and understood the Plan and the Award Agreement, including
all terms and conditions included therein, which were provided in the English language.
Participant accepts the terms of those documents accordingly.

En
acceptant l’attribution, le Participant confirme avoir lu et compris le Plan et le Contrat y relatifs, incluant tous leurs termes et conditions, qui ont été transmis en langue anglaise. Le
Participant accepte les dispositions de ces documents en connaissance de cause.

GERMANY

There are no country-specific
provisions.

HONG KONG 

Terms and
Conditions

Warning: The Award of Restricted Stock Units and the Shares acquired at vesting and settlement of
the Restricted Stock Units do not constitute a public offering of securities under Hong Kong law
and are available only to employees of the Company (or any Parent or

B-4

 

Subsidiary). The Award Agreement, including this Exhibit B, the Plan and other incidental
communication materials are not intended to constitute a “prospectus” for a public offering of
securities under the applicable securities legislation in Hong Kong, nor have the documents been
reviewed by any regulatory authority in Hong Kong. The Award of Restricted Stock Units is intended
only for the personal use of each eligible employee of the Employer, the Company (or any Parent or
Subsidiary) and may not be distributed to any other person. If Participant is in any doubt about
any of the contents of the Award Agreement, including this Exhibit B, or the Plan, Participant
should obtain independent professional advice.

Notifications

Nature
of Scheme. The Company specifically intends that the Plan will not be an
occupational retirement scheme for purposes of the Occupational Retirement Schemes Ordinance.

INDIA

Notifications

Exchange
Control Information. Participant must repatriate the proceeds from the sale of
Shares and any dividends received in relation to the Shares to India within a reasonable amount of
time (i.e., 90 days after receipt). Participant must maintain the foreign inward remittance
certificate received from the bank where the foreign currency is deposited in the event that the
Reserve Bank of India or the Employer requests proof of repatriation. It is Participant’s
responsibility to comply with applicable exchange control laws in India.

IRELAND

Notifications

Director
Notification Obligation. Directors, shadow directors and secretaries of the
Company’s Irish Parent or Subsidiary are subject to certain notification requirements under the
Irish Companies Act. Directors, shadow directors1 and secretaries must notify the Irish
Parent or Subsidiary in writing of their interest in the Company and the number and class of
Shares or rights to which the interest relates within five days of the issuance or disposal of the
Shares or within five days of becoming aware of the event giving rise to the notification. This
disclosure requirement also applies to any rights or Shares acquired by the director’s spouse or
children (under the age of 18).

 

1  A shadow director is an individual who is not on the board of directors of the Irish
Parent or Subsidiary but who has sufficient control so that the board of directors of the Irish
Parent or Subsidiary acts in accordance with the directions or instructions of the individual.

B-5

 

ITALY

Terms and Conditions

Data Privacy. This provision replaces Section 12 of the Award Agreement:

Participant understands that the Company and the Employer as the Privacy Representative of the
Company in Italy, may hold certain personal information about Participant, including, but not
limited to, Participant’s name, home address and telephone number, date of birth, social insurance
or other identification number, salary, nationality, job title, any Shares or directorships held in
the Company or any Parent or Subsidiary, details of all Restricted Stock Units or any other
entitlement to Shares awarded, canceled, exercised, vested, unvested or outstanding in
Participant’s favor, and that the Company and the Employer will process said data and other data
lawfully received from third party (“Personal Data”) for the exclusive purpose of managing and
administering the Plan and complying with applicable laws, regulations and European Community
legislation.

Participant also understands that providing the Company with Personal Data is mandatory for
compliance with laws and is necessary for the performance of the Plan and that Participant’s denial
to provide Personal Data would make it impossible for the Company to perform its contractual
obligations and may affect Participant’s ability to participate in the Plan. The Controller of
personal data processing is Fusion-io, Inc., with registered offices at 2855 E. Cottonwood Parkway,
Suite 100, Salt Lake City, Utah 84121, U.S.A., and, pursuant to Legislative Decree no. 196/2003,
its Privacy Representative for Italy is Fusion-io, Ltd. with registered offices at 400 Thames
Valley Park Drive, Thames Valley Park, Reading, RG6 1PT United Kingdom.

Participant understands that Personal Data will not be publicized, but it may be accessible by the
Employer as the Privacy Representative of the Company and within the Employer’s organization by its
internal and external personnel in charge of processing, and by the data Processor, if appointed.
The updated list of Processors and of the subjects to which Data are communicated will remain
available upon request at the Employer. Furthermore, Personal Data may be transferred to banks,
other financial institutions, transfer agents or brokers involved in the management and
administration of the Plan. Participant understands that Personal Data may also be transferred to
the independent registered public accounting firm engaged by the Company, and also to the
legitimate addressees under applicable laws. Participant further understands that the Company, the
Employer (or any Parent or Subsidiary) will transfer Personal Data amongst themselves as necessary
for the purpose of implementation, administration and management of Participant’s participation in
the Plan, and that the Company, the Employer (or any Parent or Subsidiary) may each further
transfer Personal Data to third parties assisting the Company in the implementation, administration
and management of the Plan, including any requisite transfer of Personal Data to a transfer agent,
broker or other third party with whom Participant may elect to deposit any Shares acquired under
the Plan or any proceeds
from the sale of such Shares. Such recipients may receive, possess, use, retain and transfer
Personal Data in electronic or other form, for the purposes of implementing, administering and
managing Participant’s participation in the

B-6

 

Plan. Participant understands that these recipients may be acting as Controllers, Processors or
persons in charge of processing, as the case may be, according to applicable privacy laws, and that
they may be located in or outside the European Economic Area, such as in the United States or
elsewhere, in countries that do not provide an adequate level of data protection as intended under
Italian privacy law.

Should the Company exercise its discretion in suspending all necessary legal obligations connected
with the management and administration of the Plan, it will delete Personal Data as soon as it has
accomplished all the necessary legal obligations connected with the management and administration
of the Plan.

Participant understands that Personal Data processing related to the purposes specified above shall
take place under automated or non-automated conditions, anonymously when possible, that comply with
the purposes for which Personal Data is collected and with confidentiality and security provisions
as set forth by applicable laws and regulations, with specific reference to Legislative Decree no.
196/2003.

The processing activity, including communication, the transfer of Personal Data abroad, including
outside of the European Economic Area, as specified herein and pursuant to applicable laws and
regulations, does not require Participant’s consent thereto as the processing is necessary to
performance of law and contractual obligations related to implementation, administration and
management of the Plan. Participant understands that, pursuant to Paragraph 7 of the Legislative
Decree no. 196/2003, he or she has the right at any moment to, including, but not limited to,
obtain confirmation that Personal Data exists or not, access, verify its contents, origin and
accuracy, delete, update, integrate, correct, blocked or stop, for legitimate reason, the Personal
Data processing. To exercise privacy rights, the Participant should contact the Employer.
Furthermore, Participant is aware that Personal Data will not be used for direct marketing
purposes. In addition, Personal Data provided can be reviewed and questions or complaints can be
addressed by contacting Participant’s human resources department.

Plan Document Acknowledgement. Participant acknowledges that he or she has read and specifically
and expressly approves the Award Agreement and the following Sections of the Award Agreement:
Notice of Grant; Section 1: Grant; Section 2: Company’s Obligation to Pay; Section 3: Vesting
Schedule; Section 4: Administrator Discretion; Section 5: Forfeiture upon Termination of Status as
a Service Provider; Section 6: Death of Participant; Section 7: Withholding of Taxes; Section 8:
Rights as Stockholder; Section 9: No Guarantee of Continued Service; Section 10: Nature of Award;
Section 11: No Advice Regarding Award; Section 14: Grant is Not Transferable; Section 15:
Country-Specific Terms and Conditions; Section 16: Binding Agreement; Section 17: Additional
Conditions to Issuance of Stock; Section 18: Section 18: Plan Governs; Section 19: Language;
Section 20: Administrator Authority; Section 22: Electronic Delivery and Acceptance; Section 23:
Agreement Severable; Section 24: Modifications to the Award Agreement; Section 25: Amendment,
Suspension or Termination of the Plan;
Section 26: Imposition of Other Requirements; Section 27: Governing Law/Venue; and the Data Privacy
provision of this Exhibit B.

B-7

 

JAPAN

There are no country-specific provisions.

KOREA

Notifications

Exchange Control Information. If Participant realizes US$500,000 or more from the sale of Shares,
Korean exchange laws requires Participant to repatriate the proceeds to Korea within eighteen
months of the sale.

THE NETHERLANDS

Notifications

Insider Trading Information. Participant should be aware of the Dutch insider-trading rules,
which may impact the sale of Shares acquired at vesting of the Restricted Stock Units. In
particular, Participant may be prohibited from effectuating certain transactions if Participant has
inside information about the Company.

Under Article 5:56 of the Dutch Financial Supervision Act, anyone who has “insider information”
related to an issuing company is prohibited from effectuating a transaction in securities in or
from the Netherlands. “Inside information” is defined as knowledge of specific information
concerning the issuing company to which the securities relate or the trade in securities issued by
such company, which has not been made public and which, if published, would reasonably be expected
to affect the share price, regardless of the development of the price. The insider could be any
employee of a Parent or Subsidiary in the Netherlands who has inside information as described
herein.

Given the broad scope of the definition of inside information, certain employees working at a
Parent or Subsidiary in the Netherlands may have inside information and, thus, would be prohibited
from effectuating a transaction in securities in the Netherlands at a time when Participant has
such inside information.

If Participant is uncertain whether the insider-trading rules apply to Participant, he or she
should consult Participant’s personal legal advisor.

SINGAPORE

Notifications

Securities Law Information. The Award of Restricted Stock Units is being granted to Participant
pursuant to the “Qualifying Person” exemption under section 273(1)(f) of the Singapore Securities
and Futures Act (Chapter 289, 2006 Ed.) (“SFA”). The Plan has not
been lodged or registered as a prospectus with the Monetary Authority of Singapore. Participant
should note that

B-8

 

such Award of Restricted Stock Units is subject to section 257 of the SFA and Participant will not
be able to make any subsequent sale in Singapore, or any offer of such subsequent sale of the
Shares underlying the Restricted Stock Units unless such sale or offer in Singapore is made
pursuant to the exemptions under Part XIII Division (1) Subdivision (4) (other than section 280) of
the SFA (Cap 289, 2006 Ed.).

Director Notification Obligation. If Participant is a director, associate director or shadow
director of a Singaporean Parent or Subsidiary, Participant is subject to certain notification
requirements under the Singapore Companies Act. Among these requirements is an obligation to notify
the Singaporean Parent or Subsidiary in writing when Participant receives an interest (e.g.,
Restricted Stock Units, Shares) in the Company or any Parent or Subsidiary. In addition,
Participant must notify the Singaporean Parent or Subsidiary when he or she sells any Shares
(including when Participant sells the Shares acquired under the Plan). These notifications must be
made within two days of acquiring or disposing of any interest in the Company or any Parent or
Subsidiary. In addition, a notification must be made of Participant’s interests in the Company or
any Parent or Subsidiary within two days of becoming a director.

Insider Trading Information. Participant should be aware of the Singapore insider trading rules,
which may impact the acquisition or disposal of Shares or rights to Shares under the Plan. Under
the Singapore insider-trading rules, Participant is prohibited from selling Shares when he or she
is in possession of information which is not generally available and which Participant knows or
should know will have a material effect on the price of Shares once such information is generally
available.

SWITZERLAND

Notifications

Securities Law Information. The Award of Restricted Stock Units is considered a private offering
in Switzerland; therefore, it is not subject to registration.

TAIWAN

There are no country-specific provisions.

UNITED KINGDOM

Terms and Conditions

Withholding
of Taxes. The following provisions supplement Section 7 of the Award Agreement:

If payment or withholding of the Tax-Related Items (including the Employer’s Liability, as defined
below) is not made within ninety (90) days of the event giving rise to the Tax-Related Items (the
“Due Date”) or such other period specified in Paragraph 222(1)(c) of
the U.K. Income Tax (Earnings and Pensions) Act 2003, the amount of any uncollected income tax will
constitute a loan owed by Participant to the Employer, effective on the Due Date. Participant
agrees that

B-9

 

the loan will bear interest at the then-current official rate of Her Majesty’s Revenue and Customs
(“HMRC”), it will be immediately due and repayable, and the Company or the Employer may recover it
at any time thereafter by any of the means referred to in Section 7 of the Award Agreement.

Notwithstanding the foregoing, if Participant is a director or executive officer of the Company
(within the meaning of Paragraph 13(k) of the U.S. Securities and Exchange Act of 1934, as
amended), Participant will not be eligible for such a loan to cover the income taxes. In the event
that Participant is such a director or executive officer and the income taxes are not collected
from or paid by Participant by the Due Date, the amount of any uncollected income taxes will
constitute a benefit to Participant on which additional income tax and national insurance
contributions (including the Employer’s Liability) will be payable. Participant will be
responsible for reporting and paying any income tax and national insurance contributions (including
the Employer’s Liability, as defined below) due on this additional benefit directly to HMRC under
the self-assessment regime.

Joint Election. As a condition of Participant’s participation in the Plan and the vesting of the
Restricted Stock Units, Participant agrees to accept any liability for secondary Class 1 national
insurance contributions which may be payable by the Company and/or
the Employer in connection with
the Award of Restricted Stock Units and any event giving rise to Tax-Related Items (the “Employer’s
Liability”). Without prejudice to the foregoing, Participant agrees to enter into a joint election
with the Company, the form of such joint election being formally approved by HMRC (the “Joint
Election”), and any other required consent or elections. Participant further agrees to enter into
such other Joint Elections as may be required between Participant and any successor to the Company
and/or the Employer. Participant further agrees that the Company and/or the Employer may collect
the Employer’s Liability from Participant by any of the means set forth in Section 7 of the Award
Agreement.

If Participant does not enter into the Joint Election prior to the vesting of the Restricted Stock
Units, Participant will forfeit the Restricted Stock Units will be returned to the Company at no
cost to the Company, without any liability to the Company and/or the Employer.

B-10

 

[FORM OF US NOTICE OF GRANT OF RESTRICTED STOCK]

FUSION-IO, INC.

2011 EQUITY INCENTIVE PLAN

NOTICE OF GRANT OF RESTRICTED STOCK

Unless otherwise defined herein, the terms defined in the Fusion-io, Inc. 2011 Equity
Incentive Plan (the “Plan”) will have the same defined meanings in this Notice of Grant of
Restricted Stock (the “Notice of Grant”) and Terms and Conditions of Restricted Stock Grant,
attached hereto as Exhibit A (together, the “Agreement”).

NOTICE OF RESTRICTED STOCK GRANT

	 	 	 

	Participant Name:
	 	 
	 

	 	 
	 
	 	 
	Address:
	 	 
	 

	 	 
	 
	 	 
	 

	 	 

Participant has been granted the right to receive an Award of Restricted Stock, subject to the
terms and conditions of the Plan and this Agreement, as follows:

	 	 	 
	Grant Number
	 	 
	 

	 	 
	 
	 	 
	Date of Grant
	 	 
	 

	 	 
	 
	 	 
	Vesting Commencement Date
	 	 
	 

	 	 
	 
	 	 
	Total Number of Shares Granted
	 	 
	 

	 	 

Vesting
Schedule:

Subject to any acceleration provisions contained in the Plan or set forth below, the
Restricted Stock will vest and the Company’s right to reacquire the Restricted Stock will lapse in
accordance with the following schedule:

[INSERT VESTING SCHEDULE]

 1 

 

By Participant’s signature and the signature of the representative of Fusion-io, Inc. (the
“Company”) below, Participant and the Company agree that this Award of Restricted Stock is granted
under and governed by the terms and conditions of the Plan and this Agreement. Participant has
reviewed the Plan and this Agreement in their entirety, has had an opportunity to obtain the advice
of counsel prior to executing this Agreement and fully understands all provisions of the Plan and
Agreement. Participant hereby agrees to accept as binding, conclusive and final all decisions or
interpretations of the Administrator upon any questions relating to the Plan and Agreement.
Participant further agrees to notify the Company upon any change in the residence address indicated
below.

	 	 	 

	PARTICIPANT

	 	FUSION-IO, INC.
	 
	 	 
	 

	 	 
	Signature
	 	 
	 
	 	 
	 

	 	 
	Print Name
	 	 
	 
	 	 
	Address:
	 	 
	 
	 	 
	 
	 	 
	 
	 	 
	 
	 	 

 2 

 

EXHIBIT A

TERMS AND CONDITIONS OF RESTRICTED STOCK GRANT

1.     Grant of Restricted Stock. The Company hereby grants to the Participant named in the Notice
of Grant (the “Participant”) under the Plan for past services and as a separate incentive in
connection with his or her services and not in lieu of any salary or other compensation for his or
her services, an Award of Shares of Restricted Stock, subject to all of the terms and conditions in
this Agreement and the Plan, which is incorporated herein by reference. Subject to Section 18(c) of
the Plan, in the event of a conflict between the terms and conditions of the Plan and the terms and
conditions of this Agreement, the terms and conditions of the Plan will prevail.

2.     Escrow of Shares.

(a)     All Shares of Restricted Stock will, upon execution of this Agreement, be delivered and
deposited with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of
Restricted Stock will be held by the Escrow Holder until such time as the Shares of Restricted
Stock vest or the date Participant ceases to be a Service Provider.

(b)     The Escrow Holder will not be liable for any act it may do or omit to do with respect to
holding the Shares of Restricted Stock in escrow while acting in good faith and in the exercise of
its judgment.

(c)     Upon Participant’s termination as a Service Provider for any reason, the Escrow Holder,
upon receipt of written notice of such termination, will take all steps necessary to accomplish the
transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the
Escrow Holder with full power of substitution, as Participant’s true and lawful attorney-in-fact
with irrevocable power and authority in the name and on behalf of Participant to take any action
and execute all documents and instruments, including, without limitation, stock powers which may be
necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted
Stock to the Company upon such termination.

(d)     The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of
Restricted Stock to Participant after they vest following Participant’s request that the Escrow
Holder do so.

(e)     Subject to the terms hereof, Participant will have all the rights of a stockholder with
respect to the Shares while they are held in escrow, including without limitation, the right to
vote the Shares and to receive any cash dividends declared thereon.

(f)     In the event of any dividend or other distribution (whether in the form of cash, Shares,
other securities, or other property), recapitalization, stock split, reverse stock split,
reorganization, merger, consolidation, split-up, spin-off, combination,
repurchase, or exchange of Shares or other securities of the Company, or other change in the
corporate structure of the Company affecting the Shares, the Shares of Restricted Stock will be
increased, reduced or otherwise changed, and by virtue of any such change Participant will in his
or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or
different shares

A-1 

 

of stock, cash or securities (other than rights or warrants to purchase securities); such new or
additional or different shares, cash or securities will thereupon be considered to be unvested
Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were
applicable to the unvested Shares of Restricted Stock pursuant to this Agreement. If Participant
receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or
warrants may be held or exercised by Participant, provided that until such exercise any such rights
or warrants and after such exercise any shares or other securities acquired by the exercise of such
rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject
to all of the conditions and restrictions which were applicable to the unvested Shares of
Restricted Stock pursuant to this Agreement. The Administrator in its absolute discretion at any
time may accelerate the vesting of all or any portion of such new or additional shares of stock,
cash or securities, rights or warrants to purchase securities or shares or other securities
acquired by the exercise of such rights or warrants.

(g)     The Company may instruct the transfer agent for its Common Stock to place a legend on the
certificates representing the Restricted Stock or otherwise note its records as to the restrictions
on transfer set forth in this Agreement.

3.     Vesting Schedule. Except as provided in Section 4, and subject to Section 5,
the
Shares of Restricted Stock awarded by this Agreement will vest in accordance with the vesting
provisions set forth in the Notice of Grant. Shares of Restricted Stock scheduled to vest on a
certain date or upon the occurrence of a certain condition will not vest in Participant in
accordance with any of the provisions of this Agreement, unless Participant will have been
continuously a Service Provider from the Date of Grant until the date such vesting occurs.

4.     Administrator Discretion. The Administrator, in its discretion, may accelerate the vesting
of the balance, or some lesser portion of the balance, of the unvested Restricted Stock at any
time, subject to the terms of the Plan. If so accelerated, such Restricted Stock will be
considered as having vested as of the date specified by the Administrator.

5.     Forfeiture upon Termination of Status as a Service Provider. Notwithstanding any contrary
provision of this Agreement, the balance of the Shares of Restricted Stock that have not vested at
the time of Participant’s termination as a Service Provider for any reason will be forfeited and
automatically transferred to and reacquired by the Company at no cost to the Company upon the date
of such termination and Participant will have no further rights thereunder. Participant will not
be entitled to a refund of the price paid for the Shares of Restricted Stock, if any, returned to
the Company pursuant to this Section 5. Participant hereby appoints the Escrow Agent with full
power of substitution, as Participant’s true and lawful attorney-in-fact with irrevocable power and
authority in the name and on behalf of Participant to take any action and execute all documents and
instruments, including, without limitation, stock
powers which may be necessary to transfer the certificate or certificates evidencing such
unvested Shares to the Company upon such termination of service.

6.     Death of Participant. Any distribution or delivery to be made to Participant under this
Agreement will, if Participant is then deceased, be made to Participant’s designated beneficiary,
or if no beneficiary survives Participant, the administrator or executor of Participant’s estate.
Any such transferee must furnish the Company with (a)written notice of his

A-2 

 

or her status as transferee, and (b) evidence satisfactory to the Company to establish the validity
of the transfer and compliance with any laws or regulations pertaining to said transfer.

7.     Withholding of Taxes. Notwithstanding any contrary provision of this
Agreement, no certificate representing the Shares of Restricted Stock may be released from the
escrow established pursuant to Section 2, unless and until satisfactory arrangements (as determined
by the Administrator) will have been made by Participant with respect to the payment of income,
employment and other taxes which the Company determines must be withheld with respect to such
Shares. The Administrator, in its sole discretion and pursuant to such procedures as it may specify
from time to time, may permit Participant to satisfy such tax withholding obligation, in whole or
in part (without limitation) by (a) paying cash, (b) electing to have the Company withhold
otherwise deliverable Shares having a Fair Market Value equal to the minimum amount required to be
withheld, (c) delivering to the Company already vested and owned Shares having a Fair Market Value
equal to the amount required to be withheld, or (d) selling a sufficient number of such Shares
otherwise deliverable to Participant through such means as the Company may determine in its sole
discretion (whether through a broker or otherwise) equal to the amount required to be withheld. To
the extent determined appropriate by the Company in its discretion, it will have the right (but not
the obligation) to satisfy any tax withholding obligations by reducing the number of Shares
otherwise deliverable to Participant. If Participant fails to make satisfactory arrangements for
the payment of any required tax withholding obligations hereunder at the time any applicable Shares
otherwise are scheduled to vest pursuant to Sections 3 or 4, Participant will permanently forfeit
such Shares and the Shares will be returned to the Company at no cost to the Company.

8.     Rights as Stockholder. Neither Participant nor any person claiming under or through
Participant will have any of the rights or privileges of a stockholder of the Company in respect of
any Shares deliverable hereunder unless and until certificates representing such Shares will have
been issued, recorded on the records of the Company or its transfer agents or registrars, and
delivered to Participant or the Escrow Agent. Except as provided in Section 2(f), after such
issuance, recordation and delivery, Participant will have all the rights of a stockholder of the
Company with respect to voting such Shares and receipt of dividends and distributions on such
Shares.

9.     No Guarantee of Continued Service. PARTICIPANT ACKNOWLEDGES AND
AGREES THAT THE VESTING OF THE SHARES OF RESTRICTED STOCK PURSUANT TO THE VESTING SCHEDULE HEREOF
IS EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER AT THE WILL OF THE COMPANY (OR THE PARENT OR
SUBSIDIARY EMPLOYING OR RETAINING PARTICIPANT) AND NOT THROUGH THE ACT OF BEING HIRED, BEING
GRANTED THIS RESTRICTED STOCK OR ACQUIRING SHARES HEREUNDER. PARTICIPANT
FURTHER ACKNOWLEDGES AND AGREES THAT THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND
THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED
ENGAGEMENT AS A SERVICE PROVIDER FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND WILL NOT
INTERFERE IN ANY WAY WITH PARTICIPANT’S RIGHT OR THE RIGHT OF THE COMPANY (OR THE PARENT OR
SUBSIDIARY EMPLOYING OR RETAINING

A-3 

 

PARTICIPANT) TO TERMINATE PARTICIPANT’S RELATIONSHIP AS A SERVICE PROVIDER AT ANY TIME, WITH OR
WITHOUT CAUSE.

10.     Address for Notices. Any notice to be given to the Company under the terms of this
Agreement will be addressed to the Company at Fusion-io, Inc., 2855 E. Cottonwood Parkway, Suite
100, Salt Lake City, Utah 84121, or at such other address as the Company may hereafter designate in
writing.

11.     Grant is Not Transferable. Except to the limited extent provided in Section 6, the
unvested Shares subject to this grant and the rights and privileges conferred hereby will not be
transferred, assigned, pledged or hypothecated in any way (whether by operation of law or
otherwise) and will not be subject to sale under execution, attachment or similar process. Upon any
attempt to transfer, assign, pledge, hypothecate or otherwise dispose of any unvested Shares of
Restricted Stock subject to this grant, or any right or privilege conferred hereby, or upon any
attempted sale under any execution, attachment or similar process, this grant and the rights and
privileges conferred hereby immediately will become null and void.

12.     Binding Agreement. Subject to the limitation on the transferability of this grant
contained herein, this Agreement will be binding upon and inure to the benefit of the heirs,
legatees, legal representatives, successors and assigns of the parties hereto.

13.     Additional Conditions to Release from Escrow. The Company will not be required to issue
any certificate or certificates for Shares hereunder or release such Shares from the escrow
established pursuant to Section 2 prior to fulfillment of all the following conditions: (a)the
admission of such Shares to listing on all stock exchanges on which such class of stock is then
listed; (b)the completion of any registration or other qualification of such Shares under any state
or federal law or under the rulings or regulations of the Securities and Exchange Commission or any
other governmental regulatory body, which the Administrator will, in its absolute discretion, deem
necessary or advisable; (c)the obtaining of any approval or other clearance from any state or
federal governmental agency, which the Administrator will, in its absolute discretion, determine to
be necessary or advisable; and (d)the lapse of such reasonable period of time following the date of
grant of the Restricted Stock as the Administrator may establish from time to time for reasons of
administrative convenience.

14.     Plan Governs. This Agreement is subject to all terms and provisions of the Plan. In the
event of a conflict between one or more provisions of this Agreement and one or more provisions of
the Plan, the provisions of the Plan will govern. Capitalized terms used and not defined in this
Agreement will have the meaning set forth in the Plan.

15.     Administrator Authority. The Administrator will have the power to interpret the Plan and
this Agreement and to adopt such rules for the administration, interpretation and application of
the Plan as are consistent therewith and to interpret or revoke any such rules (including, but not
limited to, the determination of whether or not any Shares of Restricted Stock have vested). All
actions taken and all interpretations and
determinations made by the Administrator in good faith will be final and binding upon
Participant, the Company and all other interested persons. No member of the Administrator will be
personally liable for any action, determination or interpretation made in good faith with respect
to the Plan or this Agreement.

A-4 

 

16.     Electronic Delivery. The Company may, in its sole discretion, decide to deliver any
documents related to the Shares of Restricted Stock awarded under the Plan or future Restricted
Stock that may be awarded under the Plan by electronic means or request Participant’s consent to
participate in the Plan by electronic means. Participant hereby consents to receive such documents
by electronic delivery and agrees to participate in the Plan through any on-line or electronic
system established and maintained by the Company or another third party designated by the Company.

17.     Captions. Captions provided herein are for convenience only and are not to serve as a
basis for interpretation or construction of this Agreement.

18.     Agreement Severable. In the event that any provision in this Agreement will be held
invalid or unenforceable, such provision will be severable from, and such invalidity or
unenforceability will not be construed to have any effect on, the remaining provisions of this
Agreement.

19.     Modifications to the Agreement. This Agreement constitutes the entire understanding of
the parties on the subjects covered. Participant expressly warrants that he or she is not accepting
this Agreement in reliance on any promises, representations, or inducements other than those
contained herein. Modifications to this Agreement or the Plan can be made only in an express
written contract executed by a duly authorized officer of the Company. Notwithstanding anything to
the contrary in the Plan or this Agreement, the Company reserves the right to revise this Agreement
as it deems necessary or advisable, in its sole discretion and without the consent of Participant,
to comply with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) or to
otherwise avoid imposition of any additional tax or income recognition under Section 409A of the
Code in connection to this Award of Restricted Stock.

20.     Amendment, Suspension or Termination of the Plan. By accepting this Award, Participant
expressly warrants that he or she has received an Award of Restricted Stock under the Plan, and has
received, read and understood a description of the Plan. Participant understands that the Plan is
discretionary in nature and may be amended, suspended or terminated by the Company at any time.

21.     Governing Law. This Agreement will be governed by the laws of the State of Utah,
without giving effect to the conflict of law principles thereof. For purposes of litigating any
dispute that arises under this Award of Restricted Stock or this Agreement, the parties hereby
submit to and consent to the jurisdiction of the State of Utah, and agree that such litigation will
be conducted in the courts of Utah County, Utah, or the federal courts for the United States for
the District of Utah in Salt Lake City, and no other courts, where this Award of Restricted Stock
is made and/or to be performed.

A-5

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