Document:

Amendment Number 2 to Guaranty Agreement

 Exhibit 10.2 
 EXECUTION COPY 
 AMENDMENT NUMBER 2 TO GUARANTY AGREEMENT 

THIS AMENDMENT NUMBER 2 TO GUARANTY AGREEMENT, dated as of July 26, 2011 (this “Amendment”) is entered into
by TWO HARBORS INVESTMENT CORP., a Delaware limited liability company (“Guarantor”). Capitalized terms used and not otherwise defined herein are used as defined in the Guaranty Agreement (as defined below). 

WHEREAS, Guarantor entered into that certain Guaranty Agreement in favor Wells Fargo Bank, N.A. (“Buyer”), dated
as of August 4, 2010 (as amended, supplemented, restated or otherwise modified to the date hereof, the “Guaranty Agreement”); 
 WHEREAS, the Guarantor, with the consent of Buyer, previously entered in Amendment Number 1 to the Guaranty Agreement, dated as of November 15, 2010; and 

WHEREAS, the Guarantor, with the consent of Buyer, desires to further amend the Guaranty Agreement in certain respects as provided
herein; 
 NOW THEREFORE, in consideration of the premises and the other mutual covenants contained herein, the parties hereto
agree as follows: 
 SECTION 1. Amendments. Effective as of the Effective Date (as defined below), the Guaranty Agreement is hereby
amended as follows: 
 1.1 Section 1(b) of the Guaranty Agreement is hereby amended and restated in its entirety as
follows: 
 “(b) “Affiliate”: shall mean with respect to (i) Guarantor, any other Person directly or
indirectly Controlling or Controlled by such Person and (ii) any Person other than Guarantor, any other Person directly or indirectly Controlling, Controlled by, or under common Control with, such Person. For the avoidance of doubt, with
respect to Guarantor, “Affiliate” shall not include (i) PRCMLP, PRCMLLC, PRDM, Advisers, any subsidiary of PRCMLP, PRCMLLC, PRDM or Advisers, or any fund that PRCMLP, PRCMLLC, PRDM or Advisers from time to time may manage other than
Guarantor or (ii) any officer or director of Guarantor or Guarantor’s subsidiaries.” 
 1.2 Section 1(d) of
the Guaranty Agreement is hereby amended by amending and restating clause (i) of such definition in its entirety as follows: 
 “(i) the property, assets, business, operations, financial condition, credit quality or prospects of Seller or Guarantor (or any Affiliate of Seller if any Indebtedness, Guarantee Obligation or
Contractual Obligation of such Affiliate is guaranteed as to payment or performance or otherwise by Guarantor),” 

 1.3 Section 1(e) of the Guaranty Agreement is hereby amended and restated in its
entirety as follows: 
 “(e) “Liquidity”: With respect to Guarantor and any date, the sum of
(i) unrestricted cash held by Guarantor and (ii) the lesser of (x) the market value or (y) the par value, of each agency RMBS or U.S. Treasury security owned by Guarantor, less any Indebtedness secured by such asset, in each
case, determined in accordance with GAAP.” 
 1.4 Section 1(f) of the Guaranty Agreement is hereby amended and
restated in its entirety as follows: 
 “(f) “Tangible Net Worth”: With respect to any Person and any date,
the Net Asset Value of such Person minus (i) intangible assets, (ii) goodwill and (iii) prepaid taxes and expenses, in each case, determined in accordance with GAAP.” 

1.5 Section 1 of the Guaranty Agreement is hereby amended by inserting the following at the end of such section as new clause (g):

 “(g) “Agency Mortgage Loans”: Mortgage loans which (i) are eligible to be sold to Federal National
Mortgage Association or Federal Home Loan Mortgage Corporation or (ii) qualify to be guaranteed by Government National Mortgage Association.” 
 1.6 Section 1 of the Guaranty Agreement is hereby amended by inserting the following at the end of such section as new clause (h): 

“(h) “Agency Securities”: Securities which are (i) issued by issued by Federal National Mortgage Association or
Federal Home Loan Mortgage Corporation or (ii) guaranteed by Government National Mortgage Association.” 
 1.7
Section 1 of the Guaranty Agreement is hereby amended by inserting the following at the end of such section as new clause (i) 
 “(i) “Threshold Ratio”: With respect to any Person and any date, an amount equal to (i) the sum of (A) the product of (x) the aggregate market value of Agency
Securities and Agency Mortgage Loans owned by such Person, and (y) 8.5, and (B) the product of (x) the aggregate market value of securities that are not Agency Securities and mortgage loans which are not Agency Mortgage Loans owned by
such Person and (y) 2, divided by (ii) the gross assets of such Person less (1) amounts owning to such Person from any affiliate, officer, employee, partner, member, director, shareholder or any other Person similarly
affiliated with such Person or any Affiliate thereof, (2) intangible assets and (3) prepaid taxes and expenses, in each case, as of such date of determination and determined in accordance with GAAP.” 

1.8 Section 1 of the Guaranty Agreement is hereby amended by inserting the following at the end of such section as new clause (j):

 “(j) “Fiscal Quarter”: Each three (3) consecutive calendar month period ending
March 31st, June 30th, September 30th and December 31st of each calendar year.” 

  
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 1.9 Section 11(a) of the Guaranty Agreement is hereby amended and restated in its
entirety as follows: 
 “(a) On each Purchase Date and as of the last Business Day of each Fiscal Quarter of the Guarantor,
the ratio of the Guarantor’s Total Indebtedness to its Tangible Net Worth, on a consolidated basis, shall not be greater than the Threshold Ratio.” 
 1.10 Section 11(b) of the Guaranty Agreement is hereby amended and restated in its entirety as follows: 
 “(b) On each Purchase Date and as of the last Business Day of each Fiscal Quarter of the Guarantor, (i) the Guarantor’s Liquidity, on a consolidated basis, shall not be less than
$25,000,000 and (ii) the aggregate amount of unrestricted cash or cash equivalents held by Guarantor (including cash held in the Collection Account net of amounts payable under clauses first through fourth of Section 5.02 of the Master
Repurchase Agreement on the next following Remittance Date) shall not be less than $15,000,000; provided that Guarantor may elect to designate that an amount equal to the Margin Credit that is outstanding as of such date of determination be
included in the calculations under this Section 11(b).” 
 1.11 Section 11(c) of the Guaranty Agreement is
hereby amended and restated in its entirety as follows: 
 “(c) On each Purchase Date and as of the last Business Day of
each Fiscal Quarter of the Guarantor, the Guarantor’s Tangible Net Worth, on a consolidated basis, shall not be less than $450,000,000.” 
 1.12 Section 19(a) of the Guaranty Agreement is hereby amended and restated in its entirety as follows: 
 “(a) THIS GUARANTY AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO OR IN CONNECTION WITH THIS GUARANTY, THE RELATIONSHIP OF THE PARTIES, AND/OR THE INTERPRETATION AND ENFORCEMENT OF
THE RIGHTS AND DUTIES OF THE PARTIES WILL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO ANY CONFLICTS OF LAW PRINCIPLES OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW.” 

SECTION 2. Effective Date. This Amendment shall become effective as of the date (the “Effective Date”) on which each of
the following conditions precedent shall have been satisfied: 
 2.1 Amendment. Buyer shall have received counterparts of
this Amendment, executed and delivered by a duly authorized officer of each party hereto. 
 2.2 Repurchase Agreement
Amendment; Fee Letter. Amendment Number 2 to the Repurchase Agreement and the Amended and Restated Fee Letter, each dated as of the date hereof, shall have become effective according to their terms. 

  
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 2.3 Other Information. Seller shall have taken such other action, including delivery
of approvals, consents, opinions, documents and instruments, as Buyer may reasonably request. 
 SECTION 3. Miscellaneous. 

3.1 References in Guaranty Agreement. Upon the effectiveness of this Amendment, each reference in the Guaranty Agreement to
“this Agreement”, “hereunder”, “hereof”, “herein”, or words of like import shall mean and be a reference to the Guaranty Agreement as amended hereby, and each reference to the Guaranty Agreement in any other
Repurchase Documents or any other document, instrument or agreement, executed and/or delivered in connection with any Repurchase Documents shall mean and be a reference to the Guaranty Agreement as amended hereby. 

3.2 Effect on Guaranty Agreement. Except as specifically amended hereby, the Guaranty Agreement shall remain in full force and
effect. This Amendment shall not constitute a novation of the Guaranty Agreement, but shall constitute an amendment thereof. 

3.3 No Waiver. The execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or
remedy of any Person under the Guaranty Agreement or any other document, instrument or agreement executed in connection therewith, nor constitute a waiver of any provision contained therein. 

3.4 Successors and Assigns. This Amendment shall be binding upon and shall inure to the benefit of the parties hereto and their
respective successors and assigns. 
 3.5 Counterparts. This Amendment may be executed in any number of counterparts, and
by the different parties hereto on the same or separate counterparts, each of which shall be deemed to be an original instrument but all of which together shall constitute one and the same agreement. Delivery of an executed counterpart of a
signature page by facsimile or other electronic means shall be effective as delivery of a manually executed counterpart of this Amendment. 
 3.6 Headings. The descriptive headings of the various sections of this Amendment are inserted for convenience of reference only and shall not be deemed to affect the meaning or construction of any
of the provisions hereof. 
 3.7 Amendments. This Amendment may not be amended or otherwise modified except as provided
in the Guaranty Agreement. 
 3.8 GOVERNING LAW. THIS AMENDMENT AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR
RELATED TO OR IN CONNECTION WITH THIS AMENDMENT, THE RELATIONSHIP OF THE PARTIES, AND/OR THE INTERPRETATION AND ENFORCEMENT OF THE RIGHTS AND DUTIES OF THE PARTIES WILL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO ANY CONFLICTS
OF LAW PRINCIPLES OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW. 

  
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 [Remainder of page left intentionally blank] 

  
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 IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their
respective officers thereunto duty authorized, as of the date first above written. 
  

			
	TWO HARBORS INVESTMENT CORP.
		
	By:	 	 /s/ Thomas Siering

		 	 Name: Thomas Siering

		 	 Title:   Chief Executive Officer

  
 Solely for purposes of Section 17 of
the Guaranty Agreement, consented to by: 

			
	
	WELLS FARGO BANK, N.A.
		
	By:	 	 /s/ Benjamin Peterson

		 	 Name: Benjamin Peterson

		 	 Title:   Vice President

 [Signature Page to Amendment No. 2 to Guaranty Agreement (Two Harbors)]2006 Director Option Plan

 Exhibit 10.1 
 RIVERBED TECHNOLOGY, INC. 

2006 DIRECTOR OPTION PLAN 

(AS AMENDED AND RESTATED MAY 19, 2011) 

							
	 TABLE OF CONTENTS
  
	   
 

	 	  	 	  	Page	 
	 ARTICLE 1.
	  	INTRODUCTION	  	 	1	  
			
	 ARTICLE 2.
	  	ADMINISTRATION	  	 	1	  
	 2.1
	  	Committee Composition	  	 	1	  
	 2.2
	  	Committee Responsibilities	  	 	1	  
			
	 ARTICLE 3.
	  	SHARES AVAILABLE FOR GRANTS	  	 	2	  
	 3.1
	  	Basic Limitation	  	 	2	  
	 3.2
	  	Annual Increase in Shares	  	 	2	  
	 3.3
	  	Shares Returned to Reserve	  	 	2	  
			
	 ARTICLE 4.
	  	AUTOMATIC OPTION GRANTS TO NON-EMPLOYEE DIRECTORS	  	 	2	  
	 4.1
	  	Eligibility	  	 	2	  
	 4.2
	  	Initial Grants	  	 	2	  
	 4.3
	  	Accelerated Exercisability	  	 	2	  
	 4.4
	  	Exercise Price	  	 	2	  
	 4.5
	  	Term	  	 	2	  
	 4.6
	  	Affiliates of Non-Employee Directors	  	 	3	  
	 4.7
	  	Stock Option Agreement	  	 	3	  
			
	 ARTICLE 5.
	  	PAYMENT FOR OPTION SHARES	  	 	3	  
	 5.1
	  	General Rule	  	 	3	  
	 5.2
	  	Surrender of Stock	  	 	3	  
	 5.3
	  	Exercise/Sale	  	 	3	  
	 5.4
	  	Other Forms of Payment	  	 	3	  
			
	 ARTICLE 6.
	  	PROTECTION AGAINST DILUTION	  	 	3	  
	 6.1
	  	Adjustments	  	 	3	  
	 6.2
	  	Dissolution or Liquidation	  	 	4	  
	 6.3
	  	Reorganizations	  	 	4	  
			
	 ARTICLE 7.
	  	LIMITATION ON RIGHTS	  	 	5	  
	 7.1
	  	Stockholders’ Rights	  	 	5	  
	 7.2
	  	Regulatory Requirements	  	 	5	  
	 7.3
	  	Withholding Taxes	  	 	5	  
			
	 ARTICLE 8.
	  	FUTURE OF THE PLAN	  	 	5	  
	 8.1
	  	Term of the Plan	  	 	5	  
	 8.2
	  	Amendment or Termination	  	 	5	  
			
	 ARTICLE 9.
	  	DEFINITIONS	  	 	5	  

  
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 RIVERBED TECHNOLOGY, INC. 

2006 DIRECTOR OPTION PLAN 

ARTICLE 1. INTRODUCTION. 
 The Board adopted the Plan to be effective at the IPO, amended the Plan on March 4, 2008, then amended and restated the Plan to reflect the 2 for 1 stock split in 2010, and further amended and
restated the Plan on May 19, 2011. The purpose of the Plan is to promote the long-term success of the Company and the creation of stockholder value by (a) encouraging Non-Employee Directors to focus on critical long-range objectives,
(b) encouraging the attraction and retention of Non-Employee Directors with exceptional qualifications and (c) linking Non-Employee Directors directly to stockholder interests through increased stock ownership. The Plan seeks to achieve
this purpose by providing for automatic and non-discretionary grants of Options to Non-Employee Directors. 
 The Plan shall be
governed by, and construed in accordance with, the laws of the State of Delaware (except their choice-of-law provisions). 

ARTICLE 2. ADMINISTRATION. 
 2.1 Committee Composition. The Committee shall administer the Plan. The Committee shall consist exclusively of two or more directors of the Company, who shall be appointed by the Board. In
addition, each member of the Committee shall meet the following requirements: 
 (a) Any listing standards prescribed by the
principal securities market on which the Company’s equity securities are traded; 
 (b) Such requirements as the Internal
Revenue Service may establish for outside directors acting under plans intended to qualify for exemption under section 162(m)(4)(C) of the Code; 
 (c) Such requirements as the Securities and Exchange Commission may establish for administrators acting under plans intended to qualify for exemption under Rule 16b-3 (or its successor) under the
Exchange Act; and 
 (d) Any other requirements imposed by applicable law, regulations or rules. 

2.2 Committee Responsibilities. The Committee shall interpret the Plan and make all decisions relating to the operation of the
Plan. The Committee may adopt such rules or guidelines as it deems appropriate to implement the Plan. The Committee’s determinations under the Plan shall be final and binding on all persons. 

 ARTICLE 3. SHARES AVAILABLE FOR GRANTS. 

3.1 Basic Limitation. Common Shares issued pursuant to the Plan may be authorized but unissued shares or treasury shares. The
aggregate number of Common Shares issued under the Plan shall not exceed (a) 1,000,000 plus (b) the additional Common Shares described in Sections 3.2 and 3.3. The number of Common Shares that are subject to Options outstanding
at any time under the Plan shall not exceed the number of Common Shares that then remain available for issuance under the Plan. The limitations of this Section 3.1 and Section 3.2 shall be subject to adjustment pursuant to Article 6.

 3.2 Annual Increase in Shares. As of the first day of each fiscal year of the Company, commencing on January 1,
2007, the aggregate number of Common Shares that may be issued under the Plan shall automatically increase by 500,000 Common Shares. 
 3.3 Shares Returned to Reserve. If Options are forfeited or terminate for any other reason before being exercised, then the Common Shares subject to such Options shall again become available for
issuance under the Plan. 
 ARTICLE 4. AUTOMATIC OPTION GRANTS TO NON-EMPLOYEE DIRECTORS. 

4.1 Eligibility. Only Non-Employee Directors shall be eligible for the grant of Options under the Plan. 

4.2 Initial Grants. Each Non-Employee Director who first becomes a member of the Board shall receive a one-time grant of an Option
covering 30,000 Common Shares. Such Option(s) shall be granted on the date such Non-Employee Director first joins the Board. Subject to the Non-Employee Director’s continuing Service, Options granted under this Section 4.2 shall become
exercisable in equal monthly installments over the 36-month period commencing on the date of grant. A Non-Employee Director who previously was an Employee shall not receive a grant under this Section 4.2. 

4.3 Accelerated Exercisability. All Options granted to a Non-Employee Director under this Article 4 shall also become
exercisable in full in the event that the Company is subject to a Change in Control before such Non-Employee Director’s Service terminates. Acceleration of exercisability may also be required by Section 6.3. 

4.4 Exercise Price. The Exercise Price under all Options granted to a Non-Employee Director under this Article 4 shall be
equal to 100% of the Fair Market Value of a Common Share on the date of grant, payable in one of the forms described in Article 5. 
 4.5 Term. All Options granted to a Non-Employee Director under this Article 4 shall terminate on the earliest of (a) the 7th anniversary of the date of grant if granted on or after
March 4, 2008 or the 10th anniversary of the date of grant if granted prior to March 4, 2008 or (b) the date 12 months after the termination of such Non-Employee Director’s Service for any reason. 

  
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 4.6 Affiliates of Non-Employee Directors. The Committee may provide that the Options
that otherwise would be granted to a Non-Employee Director under this Article 4 shall instead be granted to an affiliate of such Non-Employee Director. Such affiliate shall then be deemed to be a Non-Employee Director for purposes of the Plan,
provided that the Service-related vesting and termination provisions pertaining to the Options shall be applied with regard to the Service of the Non-Employee Director. 
 4.7 Stock Option Agreement. Each grant of an Option under the Plan shall be evidenced by a Stock Option Agreement between the Optionee and the Company. Such Option shall be subject to all
applicable terms of the Plan and may be subject to any other terms that are not inconsistent with the Plan. 
 ARTICLE 5.
PAYMENT FOR OPTION SHARES. 
 5.1 General Rule. The entire Exercise Price of Common Shares issued upon exercise
of Options shall be payable in cash or cash equivalents at the time when such Common Shares are purchased, except that the Committee at its sole discretion may accept payment of the Exercise Price in any other form(s) described in this
Article 5. However, the Optionee may pay the Exercise Price in a form other than cash or cash equivalents only to the extent permitted by section 13(k) of the Exchange Act. 

5.2 Surrender of Stock. With the Committee’s consent, all or any part of the Exercise Price may be paid by surrendering, or
attesting to the ownership of, Common Shares that are already owned by the Optionee. Such Common Shares shall be valued at their Fair Market Value on the date the new Common Shares are purchased under the Plan. 

5.3 Exercise/Sale. With the Committee’s consent, all or any part of the Exercise Price and any withholding taxes may be paid
by delivering (on a form prescribed by the Company) an irrevocable direction to a securities broker approved by the Company to sell all or part of the Common Shares being purchased under the Plan and to deliver all or part of the sales proceeds to
the Company. 
 5.4 Other Forms of Payment. With the Committee’s consent, all or any part of the Exercise Price and
any withholding taxes may be paid in any other form that is consistent with applicable laws, regulations and rules. 

ARTICLE 6. PROTECTION AGAINST DILUTION. 
 6.1 Adjustments. In the event of a subdivision of the outstanding Common Shares, a declaration of a dividend payable in Common Shares or a combination or consolidation of the outstanding Common
Shares (by reclassification or otherwise) into a lesser number of Common Shares, corresponding adjustments shall automatically be made in each of the following: 
 (a) The number of Options available for future grants under Article 3; 
 (b)
The number of Common Shares covered by each outstanding Option; or 

  
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 (c) The Exercise Price under each outstanding Option. 

In the event of a declaration of an extraordinary dividend payable in a form other than Common Shares in an amount that has a material effect on the
price of Common Shares, a recapitalization, a spin-off or a similar occurrence, the Committee shall make such adjustments as it, in its sole discretion, deems appropriate in one or more of the foregoing. Except as provided in this Article 6, an
Optionee shall have no rights by reason of any issuance by the Company of stock of any class or securities convertible into stock of any class, any subdivision or consolidation of shares of stock of any class, the payment of any stock dividend or
any other increase or decrease in the number of shares of stock of any class. 
 6.2 Dissolution or Liquidation. To the
extent not previously exercised, Options shall terminate immediately prior to the dissolution or liquidation of the Company. 

6.3 Reorganizations. In the event that the Company is a party to a merger or consolidation, all outstanding Options shall be
subject to the agreement of merger or consolidation. Such agreement shall provide for one or more of the following: 
 (a) The
continuation of such outstanding Options by the Company (if the Company is the surviving corporation). 
 (b) The assumption of
such outstanding Options by the surviving corporation or its parent in a manner that complies with section 424(a) of the Code (even though such Options are not ISOs). 
 (c) The substitution by the surviving corporation or its parent of new options for such outstanding Options in a manner that complies with section 424(a) of the Code (even though such Options are not
ISOs). 
 (d) Full exercisability of such outstanding Options and full vesting of the Common Shares subject to such Options,
followed by the cancellation of such Options. The full exercisability of such Options and full vesting of the Common Shares subject to such Options may be contingent on the closing of such merger or consolidation. The Optionees shall be able to
exercise such Options during a period of not less than five full business days preceding the closing date of such merger or consolidation, unless (i) a shorter period is required to permit a timely closing of such merger or consolidation and
(ii) such shorter period still offers the Optionees a reasonable opportunity to exercise such Options. Any exercise of such Options during such period may be contingent on the closing of such merger or consolidation. 

(e) The cancellation of such outstanding Options and a payment to the Optionees equal to the excess of (i) the Fair Market Value of
the Common Shares subject to such Options (whether or not such Options are then exercisable or such Common Shares are then vested) as of the closing date of such merger or consolidation over (ii) their Exercise Price. Such payment shall be made
in the form of cash, cash equivalents, or securities of the surviving corporation or its parent with a Fair Market Value equal to the required amount. Such payment may be made in installments and may be deferred until the date or dates when such
Options would have become exercisable or such Common Shares would have vested. Such payment may be subject to vesting based on the Optionee’s continuing Service, provided that the vesting

  
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schedule shall not be less favorable to the Optionees than the schedule under which such Options would have become exercisable or such Common Shares would have vested. If the Exercise Price of
the Common Shares subject to such Options exceeds the Fair Market Value of such Common Shares, then such Options may be cancelled without making a payment to the Optionees. For purposes of this Subsection (e), the Fair Market Value of any
security shall be determined without regard to any vesting conditions that may apply to such security. 
 ARTICLE 7.
LIMITATION ON RIGHTS. 
 7.1 Stockholders’ Rights. A Optionee shall have no dividend rights, voting rights
or other rights as a stockholder with respect to any Common Shares covered by his or her Option prior to the time when he or she becomes entitled to receive such Common Shares by filing a notice of exercise and paying the Exercise Price. No
adjustment shall be made for cash dividends or other rights for which the record date is prior to such time, except as expressly provided in the Plan. 
 7.2 Regulatory Requirements. Any other provision of the Plan notwithstanding, the obligation of the Company to issue Common Shares under the Plan shall be subject to all applicable laws, rules and
regulations and such approval by any regulatory body as may be required. The Company reserves the right to restrict, in whole or in part, the delivery of Common Shares pursuant to any Option prior to the satisfaction of all legal requirements
relating to the issuance of such Common Shares, to their registration, qualification or listing or to an exemption from registration, qualification or listing. 
 7.3 Withholding Taxes. To the extent required by applicable federal, state, local or foreign law, an Optionee or his or her successor shall make arrangements satisfactory to the Company for the
satisfaction of any withholding tax obligations that arise in connection with the Plan. The Company shall not be required to issue any Common Shares or make any cash payment under the Plan until such obligations are satisfied. 

ARTICLE 8. FUTURE OF THE PLAN. 
 8.1 Term of the Plan. The Plan, as set forth herein, shall become effective on the date of the IPO. The Plan shall remain in effect until the earlier of (a) the date the Plan is terminated
under Section 8.2 or (b) the 10th anniversary of
the date the Board adopted the Plan. 
 8.2 Amendment or Termination. The Board may, at any time and for any reason,
amend or terminate the Plan. An amendment of the Plan shall be subject to the approval of the Company’s stockholders only to the extent required by applicable laws, regulations or rules. No Awards shall be granted under the Plan after the
termination thereof. The termination of the Plan, or any amendment thereof, shall not affect any Award previously granted under the Plan. 
 ARTICLE 9. DEFINITIONS. 
 9.1 “Board” means the
Company’s Board of Directors, as constituted from time to time. 

  
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 9.2 “Audit Committee” means the Audit Committee of the Board. 

9.3 “Change in Control” means: 
 (a) The consummation of a merger or consolidation of the Company with or into another entity or any other corporate reorganization, if persons who were not stockholders of the Company immediately prior to
such merger, consolidation or other reorganization own immediately after such merger, consolidation or other reorganization 50% or more of the voting power of the outstanding securities of each of (i) the continuing or surviving entity and
(ii) any direct or indirect parent corporation of such continuing or surviving entity; 
 (b) The sale, transfer or other
disposition of all or substantially all of the Company’s assets; 
 (c) A change in the composition of the Board, as a
result of which fewer than 50% of the incumbent directors are directors who either: 
 (i) Had been directors of the Company on
the date 24 months prior to the date of such change in the composition of the Board (the “Original Directors”); or 

(ii) Were appointed to the Board, or nominated for election to the Board, with the affirmative votes of at least a majority of the
aggregate of (A) the Original Directors who were in office at the time of their appointment or nomination and (B) the directors whose appointment or nomination was previously approved in a manner consistent with this Paragraph (ii);
or 
 (d) Any transaction as a result of which any person is the “beneficial owner” (as defined in Rule 13d-3
under the Exchange Act), directly or indirectly, of securities of the Company representing at least 50% of the total voting power represented by the Company’s then outstanding voting securities. For purposes of this Subsection (d), the
term “person” shall have the same meaning as when used in sections 13(d) and 14(d) of the Exchange Act but shall exclude (i) a trustee or other fiduciary holding securities under an employee benefit plan of the Company or of a
Parent or Subsidiary and (ii) a corporation owned directly or indirectly by the stockholders of the Company in substantially the same proportions as their ownership of the common stock of the Company. 

A transaction shall not constitute a Change in Control if its sole purpose is to change the state of the Company’s incorporation or to create a
holding company that will be owned in substantially the same proportions by the persons who held the Company’s securities immediately before such transaction. 
 9.4 “Code” means the Internal Revenue Code of 1986, as amended. 

9.5 “Committee” means a committee of the Board, as described in Article 2. 

9.6 “Common Share” means one share of the common stock of the Company. 

  
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 9.7 “Company” means Riverbed Technology, Inc., a Delaware corporation.

 9.8 “Consultant” means a consultant or adviser who provides bona fide services to the Company, a Parent or a
Subsidiary as an independent contractor. 
 9.9 “Employee” means a common-law employee of the Company, a Parent
or a Subsidiary. 
 9.10 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

9.11 “Exercise Price” means the amount for which one Common Share may be purchased upon exercise of such Option, as
specified in the applicable Stock Option Agreement. 
 9.12 “Fair Market Value” means the market price of
Common Shares, determined by the Committee in good faith on such basis as it deems appropriate. Whenever possible, the determination of Fair Market Value by the Committee shall be based on the prices reported in The Wall Street Journal. Such
determination shall be conclusive and binding on all persons. 
 9.13 “IPO” means the initial public offering
of the Company’s Common Shares. 
 9.14 “Non-Employee Director” means a member of the Board who is not an
Employee. 
 9.15 “Option” means an option granted under the Plan and entitling the holder to purchase Common
Shares. Options do not qualify as incentive stock options described in section 422(b) of the Code. 
 9.16
“Optionee” means an individual or estate that holds an Option. 
 9.17 “Parent” means any
corporation (other than the Company) in an unbroken chain of corporations ending with the Company, if each of the corporations other than the Company owns stock possessing 50% or more of the total combined voting power of all classes of stock in one
of the other corporations in such chain. A corporation that attains the status of a Parent on a date after the adoption of the Plan shall be considered a Parent commencing as of such date. 

9.18 “Plan” means this Riverbed Technology, Inc. 2006 Director Option Plan, as amended from time to time. 

9.19 “Service” means service as a Non-Employee Director. 

9.20 “Stock Option Agreement” means the agreement between the Company and an Optionee that contains the terms,
conditions and restrictions pertaining to his or her Option. 

  
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 9.21 “Subsidiary” means any corporation (other than the Company) in an
unbroken chain of corporations beginning with the Company, if each of the corporations other than the last corporation in the unbroken chain owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the
other corporations in such chain. A corporation that attains the status of a Subsidiary on a date after the adoption of the Plan shall be considered a Subsidiary commencing as of such date. 

  
 8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00192-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00192-of-00352.parquet"}]]