Document:

January __, 2016 S-3/A Exhibit 4.8

EXHIBIT 4.8
 

   

	

RIGHTS CERTIFICATE NO.

	

   

	

NUMBER OF RIGHTS  

THE TERMS AND CONDITIONS OF THE RIGHTS OFFERING ARE SET FORTH IN

THE COMPANY'S PROSPECTUS DATED JANUARY __, 2016 (THE "PROSPECTUS") AND ARE

INCORPORATED HEREIN BY REFERENCE. COPIES OF THE PROSPECTUS ARE AVAILABLE

 UPON REQUEST FROM TRANSFER ONLINE, INC., THE INFORMATION AGENT.

S&W Seed Company

Incorporated under the laws of the State of Nevada

NON - TRANSFERABLE SUBSCRIPTION RIGHTS CERTIFICATE

Evidencing Non-Transferable Subscription Rights to Purchase Shares of Common Stock of S&W Seed Company

Subscription Price: $4.15 per Share

THE SUBSCRIPTION RIGHTS WILL EXPIRE IF NOT EXERCISED ON OR BEFORE 5:00 P.M., NEW YORK
CITY TIME, ON FEBRUARY __, 2016,
UNLESS EXTENDED BY THE COMPANY

	

REGISTERED
    OWNER:

	

   

	

   

	

THIS CERTIFIES THAT the registered owner whose name is inscribed hereon is the owner of the number of non-transferable subscription rights
("Rights") set forth above. Each whole Right entitles the holder thereof to subscribe for and purchase one share of Common Stock, par value $0.001 per share, of
S&W Seed Company, a Nevada corporation, at a subscription price of $4.15 per share (the "Basic Subscription Privilege"), pursuant to a rights offering (the
"Rights Offering"), on the terms and subject to the conditions set forth in the Prospectus and the "Instructions as to Use of S&W Seed Company Subscription
Rights Certificate.

	

   

	

If any shares of Common Stock available for purchase in the Rights Offering are not purchased by other holders of Rights pursuant to the exercise of their Basic Subscription Privilege,
together with any shares of Common Stock that are not purchased by certain security holders in a separate transaction to be conducted immediately following the expiration of the rights subscription period
(the "Unsubscribed Shares"), any Rights holder that exercises its Basic Subscription Privilege in full may subscribe for a number of
Unsubscribed Shares pursuant to the terms of the Rights Offering, subject to proration, as described in the Prospectus (the "Over-Subscription Privilege"). The rights
represented by this Subscription Rights Certificate may be exercised by completing the appropriate forms on the reverse side hereof and by returning the full payment of the
subscription price for each share of Common Stock in accordance with the "Instructions as to Use of S&W Seed Company Subscription Rights Certificates" that
accompany this Subscription Rights Certificate.

This Subscription Rights Certificate is not valid unless countersigned by the subscription agent and registered by the registrar.

Witness the seal of S&W Seed Company and the signatures of its duly authorized officers.

	

Dated:

	

   

	

   

	

/s/ Mark S. Grewal  

   President and Chief Executive Officer

	

   

	

/s/ Matthew K. Szot  

   Executive Vice President of Finance and Administration and

Chief Financial Officer

COUNTERSIGNED AND REGISTERED:

TRANSFER ONLINE, INC.

(Portland, Oregon)

              TRANSFER AGENT AND REGISTRAR

By: /s/ Lori Livingston 

AUTHORIZED SIGNATURE

   

DELIVERY OPTIONS FOR SUBSCRIPTION RIGHTS CERTIFICATE

Delivery other than in the manner or to the address listed below will not constitute valid delivery.

If delivering by mail, hand or overnight courier:

Transfer Online, Inc.

                  512 SE Salmon Street

                  Portland, OR 97214

                  Attn: Reorganizaion Department

PLEASE PRINT ALL INFORMATION CLEARLY AND LEGIBLY.

	

FORM 1EXERCISE OF SUBSCRIPTION RIGHTS

To subscribe for shares pursuant to your Basic Subscription Privilege, please complete lines (a) and (c) below and sign under Form 3 and, if applicable,
complete Form 4. To subscribe for shares pursuant to your Over-Subscription Privilege, please also complete line (b) and sign under Form 3. To the extent you subscribe for more
Shares than you are entitled under either the Basic Subscription Privilege or the Over-Subscription Privilege, you will be deemed to have elected to purchase the maximum number
of shares for which you are entitled to subscribe under the Basic Subscription Privilege or Over-Subscription Privilege, as applicable.

(a) EXERCISE OF BASIC SUBSCRIPTION PRIVILEGE:

	

   

	

METHOD OF PAYMENT (CHECK ONE)

 ̈ (PREFERRED PAYMENT METHOD)  Wire transfer of
immediately available funds directly to the account maintained by Transfer Online, Inc., as Subscription Agent, for purposes of accepting subscriptions in this Rights Offering at
___________ Bank, ABA # __________, Account No. __________, Transfer Online, Inc. FBO S&W Seed Company, with reference to the rights holders name.

 ̈ Check or bank draft payable to "Transfer Online, Inc. (acting as
subscription agent for S&W Seed Company. (NOTE THAT FUNDS MUST CLEAR PRIOR TO THE 5:00 P.M. NEW YORK CITY TIME ON EXPIRATION DATE.)

   

	

I apply for ________ x   $4.15        $_________

        (no. of shares)         (subscription price)  (amount enclosed)

(b) EXERCISE OF OVER-SUBSCRIPTION PRIVILEGE

If you have exercised your Basic Subscription Privilege in full and wish to subscribe for additional shares pursuant to your Over-Subscription Privilege:

I apply for ________ x   $4.15        $_________

             (no. of shares)        (subscription price)  (amount enclosed)

(c) Total Amount of Payment Enclosed:

$__________

	

   

	

FORM 2DELIVERY TO DIFFERENT ADDRESS

Unless specifically requested, shares of Common Stock will be issued in book entry form. If you wish for the Common Stock underlying your subscription
rights to be delivered to an address different from that shown on the face of this Subscription Rights Certificate, please enter the alternate address below, sign under Form 3 and
have your signature guaranteed under Form 4.

_________________________________________ 

_________________________________________ 

_________________________________________ 

	

FORM 3SIGNATURE

TO SUBSCRIBE: I acknowledge that I have received the Prospectus for this Rights Offering, and I hereby irrevocably subscribe for the number of shares
indicated above on the terms and conditions specified in the Prospectus. I agree to cooperate with the Company and provide to the Company any and all information requested by
the Company in connection with the exercise of the rights.

	

   

	

   

	
Signature(s): 
	
____________________________________________________________________________________________________

	
 
	
____________________________________________________________________________________________________

	
 
	
____________________________________________________________________________________________________

	 	
(Print Name of Signatory and Capacity in which Signed if an Entity)

	

IMPORTANT: The signature(s) must correspond with the name(s) as printed on the reverse of this Subscription Rights Certificate in every particular, without
alteration or enlargement, or any other change whatsoever.

	

   

	

   

FORM 4SIGNATURE GUARANTEE

This form must be completed if you have completed any portion of Form 2.

	
Signature Guaranteed:  
	
_____________________________________________________________________________________

	
 
	
(Name of Bank or Firm)

	
By:  
	
____________________________________________________________________________________________________

	
 
	
(Signature of Officer)

	

IMPORTANT: The signature(s) should be guaranteed by an eligible guarantor institution (bank, stock broker, savings & loan association or credit union)
with membership in an approved signature guarantee medallion program pursuant to Securities and Exchange Commission Rule 17A(d)-15. 

	

   

	

   

FOR INSTRUCTIONS ON THE USE OF S&W SEED COMPANY SUBSCRIPTION RIGHTS CERTIFICATES, CONSULT TRANSFER ONLINE,
INC., THE INFORMATION AGENT, AT (877) 901-6475.EX-10.1

 Exhibit 10.1 

AMENDED AND RESTATED 

EXECUTIVE EMPLOYMENT AGREEMENT 

This Amended and Restated Executive Employment Agreement (the “Agreement”) amends and restates in its entirety the
Executive Employment Agreement by and between Mobile Mini, Inc., a Delaware corporation (“Company”), and Erik Olsson (“Executive”) (either party individually, a “Party”;
collectively, the “Parties”), dated March 18, 2013 (the “Original Agreement”) and is made and entered into by Company and Executive as of January 14, 2016 (the “Effective
Date”). 
 WHEREAS, Paragraph 21 of the Original Agreement provides that it may be amended or modified only with the
written consent of Executive and the Board (as defined below). 
 WHEREAS, the Board and Executive have determined, and the
undersigned Parties hereto agree, that it is in the best interest of Company and Executive to amend and restate the Original Agreement and terms set forth therein. 

NOW, THEREFORE, in consideration of the foregoing and the mutual provisions contained herein, and for other good and valuable
consideration, the Parties hereto agree as follows: 
 1. Employment. Company hereby employs Executive, and Executive hereby accepts
such employment commencing on the Effective Date, upon the terms and conditions set forth herein. 
 2. Duties. 

2.1 Position. Executive is employed as the President and Chief Executive Officer of the Company (the
“Position”), and shall have the duties and responsibilities as may be reasonably assigned from time to time by Company’s Board of Directors (the “Board”). Executive shall perform faithfully and
diligently all those duties assigned to Executive. 
 2.2 Standard of Conduct/Full-time. During the term of this Agreement, Executive
will act loyally and in good faith to discharge the duties of the Position, and will abide by all policies and decisions made by Company, as well as all applicable laws, regulations or ordinances. Executive will act solely on behalf of Company at
all times. Executive shall devote his full business time and efforts to the performance of his duties for Company. Notwithstanding the foregoing, Executive may serve as a member of the board of directors of one or more for-profit or charitable
organizations, provided that such services do not materially interfere with Executive’s performance of his duties and responsibilities to the Company. 

2.3 Work Location. Executive’s principal place of work shall be located at the Company’s executive office in
Phoenix, Arizona, or such other location as the parties may agree upon from time to time (the “Primary Work Location”). 

3. Recoupment. Bonus, and other incentive and equity compensation paid or provided to Executive, whether pursuant to this Agreement or
otherwise, shall be subject to the 

 
terms and conditions of such policy of recoupment of compensation as shall be adopted from time to time by the Board or its Compensation Committee as it deems necessary to comply with the
requirements of Section 954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (providing for recovery of erroneously awarded compensation), Section 304 of the Sarbanes-Oxley Act of 2002 (providing for forfeiture of certain
bonuses and profits), and any implementing rules and regulations of the U.S. Securities and Exchange Commission and applicable listing standards of a national securities exchange adopted in accordance with any such Act (the “Recoupment
Policy”). The terms and conditions of the Recoupment Policy, including any changes to the Recoupment Policy put in place after the date of this Agreement, are hereby incorporated by reference into this Agreement. 

4. Term. This Agreement shall be effective for a term commencing on the date hereof and, subject to termination under
Section 8, expiring on December 31, 2016 (the “Employment Period”). Notwithstanding the previous sentence, this Agreement, the Employment Period and the employment of the Executive hereunder shall be automatically
extended for successive one year periods upon the terms and conditions set forth herein, with the next such automatic extension occurring on December 31, 2016, and on each December 31st thereafter, unless either party to this Agreement
gives the other party written notice (in accordance with Section 18) within the ninety (90) day period prior to December 31, 2015 (or the relevant December 31st thereafter, as applicable) of such party’s intention that the
Employment Period shall expire at the close of business on the last day of the then current Employment Period, whereupon, unless earlier terminated in accordance with the provisions of this Agreement, the Employment Period shall expire and this
Agreement shall cease to have any further force or effect in respect of any period thereafter. For purposes of this Agreement, any reference to the “term” of this Agreement shall include the original term and any extension thereof.

 5. Compensation. 

5.1 Base Salary. As compensation for Executive’s performance of Executive’s duties hereunder, Company shall pay to Executive
a salary at the annual rate of one million dollars ($1,000,000) per year (the “Base Salary”), payable in equal monthly installments and in accordance with the normal payroll practices of Company, less required deductions for
state and federal withholding tax, social security and all other employment taxes and authorized payroll deductions. 
 5.2 Equity.
During the Term, Executive shall receive an annual equity award pursuant to the terms of the Company’s Amended and Restated Equity Incentive Plan, or any successor thereto, as determined by the Board or its Compensation Committee in its sole
discretion, provided that the annual equity grant for 2016 shall have a grant date value of $1,800,000 and the annual equity grant for fiscal 2017 and thereafter during the Term shall have a grant date value of not less than $1,800,000. 

5.3 Incentive Compensation. Executive will be eligible to earn incentive compensation subject to the achievement of incentive
compensation targets established annually by the Board or its Compensation Committee (earned incentive compensation referred to as a “Bonus”). Executive’s target incentive compensation for any year shall be equal to 100%
of 

  
 2 

 
Executive’s then effective Base Salary, although the amount of the Bonus that Executive actually earns for any year shall be determined by the Board or its Compensation Committee in its sole
and absolute discretion, provided, however, Executive’s Bonus for any year shall not exceed 200% of Executive’s then-effective Base Salary. 

5.4 Performance and Salary Review. The Board will periodically review Executive’s performance on no less than an annual basis.
Adjustments to Base Salary or other compensation, if any, will be made by the Board or its Compensation Committee in its sole and absolute discretion; provided that any such adjustment to Executive’s Base Salary or target incentive compensation
percentage shall only be upwards, and may not be reduced. 
 6. Customary Fringe Benefits and Facilities. Executive will be eligible
for all customary and usual fringe benefits generally available to executives of Company subject to the terms and conditions of Company’s benefit plan documents. Notwithstanding Company’s policies, Executive shall be entitled to annual
paid vacation for four weeks. Company reserves the right to change or eliminate the fringe benefits on a prospective basis, at any time, effective upon notice to Executive. Notwithstanding the foregoing, during the Employment Period Executive will
be provided coverage under the Company’s form of indemnification agreement as in effect for other senior executives of the Company and, during the Employment Period and for a period of six (6) years thereafter, shall be provided coverage
under the Company’s directors and officers liability insurance policy. 
 7. Business Expenses. Executive will be reimbursed for
all reasonable, out-of pocket business expenses incurred in the performance of Executive’s duties on behalf of Company consistent with Company policies as in effect from time to time. To obtain reimbursement, expenses must be submitted promptly
with appropriate supporting documentation in accordance with Company’s policies. Any reimbursement Executive is entitled to receive shall (a) be paid no later than the last day of Executive’s tax year following the tax year in which
the expense was incurred, (b) not be affected by any other expenses that are eligible for reimbursement in any tax year and (c) not be subject to liquidation or exchange for another benefit. 

8. Termination of Executive’s Employment. 

8.1 Termination for Cause. Company may terminate Executive’s employment immediately at any time for Cause (as defined below). In
the event that Executive’s employment is terminated in accordance with this Section, Executive shall be entitled to receive only unpaid Base Salary then in effect, prorated to the date of Executive’s termination of employment (the
“Termination Date”), any Bonus that has been earned as a result of the prior year’s performance but is unpaid as of the Termination Date, and any amounts to which Executive is entitled pursuant to Section 6 and
Section 7 of this Agreement (“Accrued Rights”). Upon the effective date of such termination for Cause, all vested and unvested equity-based awards shall immediately terminate and all other Company obligations to
Executive pursuant to this Agreement shall be automatically terminated and completely extinguished. Executive shall not be entitled to receive the Severance Benefits described in Section 8.2 below or under any other plan or program of the
Company. 

  
 3 

 8.2 Involuntary Termination. In the event of any Involuntary Termination, Executive shall
be entitled to receive his Accrued Rights. In addition, subject to Section 8.6, Company shall provide Executive with the following (the “Severance Benefits”), and all other Company obligations to Executive pursuant to
this Agreement shall be automatically terminated and completely extinguished: 
 (a) Cash Severance. In the event of any Involuntary
Termination that occurs other than within one year following the occurrence of a Change in Control, subject to the requirements of Section 8.6, Executive shall receive the continuation of his Base Salary for a period of twenty-four
(24) months following the Termination Date, paid at the same intervals as salary is paid to active employees (except as otherwise provided in Section 19) and commencing within the sixty- (60-) day period following the Termination Date
(provided, that if such sixty- (60-) day period straddles two taxable years of the Executive, the payments will commence in the second taxable year). In the event of any Involuntary Termination that occurs within one year following the occurrence of
a Change in Control, provided Executive confirms in writing to the Company his agreement to be bound by the post-termination covenant in Section 12.2 hereof and subject to the requirements of Section 8.6, Executive shall receive in a
single payment an amount in cash equal to two (2) times the sum of (A) Executive’s Base Salary at the highest rate in effect at any time within the ninety- (90-) day period ending on the date the notice of termination is given
pursuant to Section 18.2 or the Executive’s Base Salary immediately prior to the Change in Control, if greater, and (B) the target Bonus for such period, which aggregate amount shall be payable to Executive within the sixty- (60-) day
period following the Termination Date (provided, that if such sixty- (60-) day period straddles two taxable years of the Executive, the payments will commence in the second taxable year. Regardless of whether the Involuntary Termination occurs
within one year following the occurrence of a Change in Control, Executive shall also be entitled to receive a pro-rated Bonus based on actual results for the year in which the Termination Date occurs, such pro-rated Bonus to be paid at the time
bonuses are paid to other Company executives for such year (except as otherwise provided in Section 19). 
 (b) Company Equity
Awards. Except as may otherwise be determined in accordance with Revenue Ruling 2008-13 (on a basis consistent in all material respects among all executive officers whose compensation, or the deductibility thereof by the Company, is affected by
Section 162(m) of the Code or any successor provision thereto) by the Compensation Committee at the time of grant of such equity-based award: 

(i) All service-based restrictions on outstanding equity-based awards (including, without limitation, restricted stock and performance stock
awards) granted after the date of this Agreement then held by the Executive shall lapse; 
 (ii) All performance targets and goals
applicable to such equity-based awards granted after the date of this Agreement in respect of any past or future period must continue to be satisfied for each period relevant to such award; 

(iii) Any equity-based award shall be paid at the time and in the form specified in the Mobile Mini, Inc. Amended and Restated 2006 Equity
Incentive Plan, the 

  
 4 

 
Mobile Mini, Inc. Amended and Restated Equity Incentive Plan or the relevant plan under which such award is outstanding; and 

(iv) All stock options and stock appreciation rights granted to the Executive shall become fully (100%) vested and shall become
immediately exercisable and the Company shall permit the Executive (or his estate), to exercise the same at any time during the 90-day period following such termination. 

(c) Payments for Continued Healthcare. For a period of twenty-four (24) months following the Termination Date, Company shall pay
to Executive a monthly amount before the end each calendar month equal to difference between (i) the monthly cost of Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) health and dental benefits
for Executive (assuming that Executive would be eligible for such coverage), less (ii) the monthly amount that the Executive would be required to contribute for health and dental coverage if Executive were an active employee of Company. 

8.3 Termination upon Disability. Company may terminate Executive’s employment with Company at any time following Executive’s
Disability. Upon termination following Disability, Executive shall be entitled to receive his Accrued Rights. All other Company obligations to Executive pursuant to this Agreement shall be automatically terminated and completely extinguished.
Executive shall not be entitled to receive the Severance Benefits described in Section 8.2 above. 
 8.4 Termination upon Death.
Executive’s employment shall terminate automatically upon Executive’s death. Upon termination as a result of Executive’s death, Executive’s estate or designated beneficiaries shall be entitled to receive Executive’s Accrued
Rights. All other Company obligations to Executive pursuant to this Agreement shall be automatically terminated and completely extinguished. Executive shall not be entitled to receive the Severance Benefits described in Section 8.2 above. 

8.5 Voluntary Resignation by Executive. Executive may voluntarily resign from employment with Company for any reason, at any time, on
thirty (30) days’ advance written notice. In the event of Executive’s resignation which is not a Resignation for Good Reason, Executive will be entitled to receive only his Accrued Rights. All other Company obligations to Executive
pursuant to this Agreement shall be automatically terminated and completely extinguished. Executive shall not be entitled to receive the Severance Benefits described in Section 8.2 above. 

8.6 Release and Forfeiture of Severance Benefits. The right of Executive to receive or to retain Severance Benefits pursuant to
Section 8.2 shall be in consideration for, and subject to, (1) execution of and delivery to the Company of a release of claims substantially in the form attached as Exhibit A to this Agreement, amended as necessary to comply with
applicable law (the “Release”) and lapse of the period for revocation, if any, of the Release without the Release having been revoked no later than 60 days after the Termination Date, and (2) Executive’s continued
compliance with the Covenants (as defined in Sections 13 and 14 of this Agreement). In the event that Executive breaches any of the Covenants, Company shall have the right to (a) terminate any further provision of Severance Benefits not yet
paid or 

  
 5 

 
provided, (b) seek reimbursement from Executive for any and all such Severance Benefits previously paid or provided to Executive, (c) recover from Executive all shares of stock of
Company the vesting of which, or the option to purchase, was accelerated by reason of the Severance Benefits (or the proceeds therefrom, reduced by any exercise or purchase price paid to acquire such shares), and (d) to immediately cancel all
Equity Awards the vesting of which was accelerated by reason of the Severance Benefits. No Severance Benefits shall be paid until the 60th day following the Termination Date. 

8.7 Definitions of Certain Terms. Certain capitalized terms not otherwise defined by this agreement shall have the following meanings:

 (a) “Cause” means (i) theft, material dishonesty in connection with Executive’s
employment, or intentional falsification of any employment or Company records; (ii) intentional and improper disclosure of Company’s confidential or proprietary information; (iii) Executive’s conviction (including any plea of
guilty or nolo contendere) for any criminal act that materially impairs Executive’s ability to perform his duties for Company; (iv) willful misconduct or breach of fiduciary duty for personal profit by Executive, (v) Executive’s
material failure to abide by Company’s code of conduct or code of ethics policies resulting in demonstrable injury to Company or its reputation, or (vi) a material breach of this Agreement by Executive which is not cured within thirty
(30) days of receipt by Executive of reasonably detailed written notice from Company. 
 (b)
“Change in Control” means, except with respect to cash Severance Benefits payable under Section 8.2(a), any of the following events: 

(i) an acquisition (other than directly from the Company) of any voting securities of the Company (the “Voting
Securities”) by any “Person” (as the term person is used for purposes of Section 13(d) or 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), immediately
after which such Person has “Beneficial Ownership” (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of thirty-five percent (35%) or more of the then outstanding Shares of the combined voting power of
the Company’s then outstanding Voting Securities; provided, however, in determining whether a Change in Control has occurred, Shares or Voting Securities which are acquired in a “Non-Control
Acquisition” (as hereinafter defined) shall not constitute an acquisition which would cause a Change in Control. A “Non-Control Acquisition” shall mean an acquisition by (A) an employee benefit plan (or a trust
forming a party thereof) maintained by (1) the Company or (2) any corporation or other Person of which all of its voting power or its voting equity securities or equity interest is owned, directly or indirectly, by the Company prior to
such acquisition (for purposes of this definition, a “Subsidiary”, (B) the Company or its Subsidiaries, or (C) any Person in connection with a “Non-Control Transaction” (as hereinafter defined).

 (ii) the individuals who, as of the date of this Agreement are members of the Board (the “Incumbent
Board”), cease for any reason to constitute at least two-thirds of the members of the Board of Directors of the Company; provided, however, that if the election, or nomination for election by the Company’s common
stockholders, of any new director was approved by a vote of at least two-thirds of the Incumbent Board, such new director shall, for purposes of this Agreement, be considered as a member of the Incumbent Board; 

  
 6 

 
provided, further, however, that no individual shall be considered a member of the Incumbent Board if such individual initially assumed officer as a result of either an actual or threatened
“Election Contest” (as described in Rule 14a-11 promulgated under the Exchange Act) or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board
(a “Proxy Contest”) including by reason of any agreement intended to avoid or settle any Election Contest or Proxy Contest; or 

(iii) the consummation of: 

(A) a merger, consolidation or reorganization involving the Company, unless such merger, consolidation or reorganization is a
“Non-Control Transaction.” A “Non-Control Transaction” shall mean a merger consolidation or reorganization of the Company where (1) the stockholders of the Company, immediately before such merger, consolidation
or reorganization, own directly or indirectly immediately following such merger, consolidation or reorganization, at least fifty-one percent (51%) of the combined voting power of the outstanding voting securities of the corporation resulting
from such merger or consolidation or reorganization (the “Surviving Corporation”) in substantially the same proportion as their ownership of the Voting Securities immediately before such merger, consolidation or
reorganization, (2) the individuals who were members of the Incumbent Board immediately prior to the execution of the agreement providing for such merger, consolidation or reorganization constitute at least two-thirds of the members of the
board of directors of the Surviving Corporation, or a corporation beneficially directly or indirectly owning a majority of the Voting Securities of the Surviving Corporation, and (3) no Person other than
(i) the Company, (ii) any Subsidiary, or (iii) any employee benefit plan (or any trust forming a part thereof) that, immediately
prior to such merger, consolidation or reorganization, was maintained by the Company, or any Subsidiary; 
 (B) a complete
liquidation or dissolution of the Company; or 
 (C) the sale or disposition of all or substantially all of the assets of the Company to
any Person (other than a transfer to a Subsidiary). 
 Notwithstanding the foregoing, a Change in Control shall not be deemed to occur
solely because any Person (the “Subject Person”) acquired Beneficial Ownership of more than the permitted amount of the then outstanding Shares or Voting Securities as a result of the acquisition of Shares or Voting
Securities by the Company which, by reducing the number of Shares or Voting Securities then outstanding, increases the proportional number of shares Beneficially Owned by the Subject Persons, provided that if a Change in Control would occur (but for
the operation of this sentence) as a result of the acquisition of Shares or Voting Securities by the Company, and after such share acquisition by the Company, the Subject Person becomes the Beneficial Owner of any additional Shares or Voting
Securities which increases the percentage of the then outstanding Shares or Voting Securities Beneficially Owned by the Subject Person, then a Change in Control shall occur. In the event of any conflict between this Section 8.7(b) and any
agreement between Executive and the Company relating to any outstanding award (whether now existing or hereafter entered into), the provisions of this subsection shall prevail. 

  
 7 

 With respect to cash Severance Benefits payable under Section 8.2(a), “Change in
Control” means a Change in Control as defined in this Section 8.7(b), but only if such event also constitutes a “change in control event” under Treasury Regulation Section 1.409A-3(i)(5). 

(c) “Disability” means a disability as defined by the group long-term disability insurance policy
maintained by Company for the benefit of its employees. In the absence of such a policy, “Disability” means that, as a result of Executive’s mental or physical illness, Executive is unable to perform (with or without reasonable
accommodation in accordance with the Americans with Disabilities Act) the duties of Executive’s position pursuant to this Agreement for a continuous period of three (3) months. A determination of Disability shall be made by a physician
satisfactory to both the Executive and the Company, which physician’s determination as to Disability shall be made within ten (10) days of the request therefor and shall be binding on all parties; provided, however, that if the Executive
and the Company do not agree on a physician, the Executive and the Company shall each select a physician and these two together shall select a third physician, which third physician’s determination as to Disability shall be binding on all
parties. 
 (d) “Involuntary Termination” means the occurrence of either
(i) termination by Company of Executive’s employment with Company for any reason other than Cause, (ii) the election by Company to allow the Employment Period to expire pursuant to the terms of Section 4 hereof, or
(iii) Executive’s Resignation for Good Reason; provided, however that Involuntary Termination shall not include any termination of Executive’s employment which is (x) for Cause, (y) a result of Executive’s death or
Disability, or (z) a result of Executive’s voluntary termination of employment which is not a Resignation for Good Reason. Company may terminate Executive’s employment with Company without Cause at any time on thirty
(30) days’ advance written notice to Executive. 
 (e) “Resignation for Good
Reason” means the voluntary resignation by Executive from employment with Company within a period of one hundred eighty (180) days following the initial existence, without Executive’s express written consent, of any of the
below conditions (each, a “Good Reason”). The Good Reason condition must remain in effect for thirty (30) days after Executive’s delivery of written notice of the existence of such condition(s) to Company and such
written notice must be given within ninety (90) days following the initial existence of such condition(s): 
 (i) a
material, adverse change in Executive’s authority, duties or responsibilities, including without limitation any change in Executive’s reporting relationship such that Executive ceases to report directly to the Board; 

(ii) a failure to pay the Executive’s Base Salary or Bonus, or any material reduction in Executive’s Base Salary or
Executive’s target Bonus percentage opportunity (subject to applicable performance requirements with respect to the actual amount of Bonus earned by Executive); 

(iii) the relocation of Executive’s work place for Company to a location more than fifty (50) miles from the Primary Work Location,
unless the new Primary 

  
 8 

 
Work Location is less than fifty (50) miles away from Executive’s home immediately prior to the change; or 

(iv) the failure of Company or any Successor to honor any material term of this Agreement. 

9. Acceleration of Vesting upon a Change in Control. In the event of a Change in Control, provided that Executive confirms in writing
to the Company that he agrees to be bound by the post-termination covenant in Section 12.2 hereof, the vesting of all then unvested outstanding Equity Awards granted to Executive shall accelerate in full. This Section shall be applied to each
Equity Award or any portion thereof that remains subject to a substantial risk of forfeiture until both (i) one or more applicable corporate financial or other business performance goals have been satisfied and (ii) Executive’s
service with Company has continued through a specified date, and with respect to such Equity Award neither of the conditions specified in clause (i) or clause (ii) of this sentence has been satisfied, by accelerating in full the target
number of shares or units that would vest pursuant to such Equity Award if Executive’s employment had not terminated and if all performance-based milestones were achieved at the 100% level by both Company and Executive. The foregoing provision
is hereby deemed to be a part of each agreement evidencing each applicable Equity Award to which Executive is a party and to supersede any contrary provision in any such agreement unless such agreement specifically refers to and disclaims this
Section 9 of this Agreement. 
 10. Golden Parachute Payments. 

10.1 In the event that any of the severance payments and other benefits provided by this Agreement or otherwise payable to
Executive (i) constitute “parachute payments” within the meaning of Section 280G of the Code and (ii) but for this Section, would be subject to the excise tax imposed by Section 4999 of the Code (“Excise
Tax”), then Executive’s severance payments and benefits under this Agreement or otherwise shall be payable either: 

(a) in full, or 
 (b) in such
lesser amount which would result in no portion of such severance payments or benefits being subject to the Excise Tax, whichever of the foregoing amounts, taking into account the applicable federal, state and local income taxes and the Excise Tax,
results in the receipt by Executive, on an after-tax basis, of the greatest amount of severance payments and benefits under this Agreement or otherwise, notwithstanding that all or some portion of such severance payments or benefits may be taxable
under Section 4999 of the Code. Any reduction in the severance payments and benefits required by this Section will made in the following order: (i) reduction of cash payments; (ii) reduction of accelerated vesting of equity awards
other than stock options; (iii) reduction of accelerated vesting of stock options; and (iv) reduction of other benefits paid or provided to Executive. Within any such category of payments and benefits (that is, (i), (ii), (iii), or (iv)),
a reduction shall occur first with respect to amounts that are not “deferred compensation” within the meaning of Section 409A of the Code and then with respect to amounts that are “deferred compensation.” To the extent
any such payment is to 

  
 9 

 
be made over time (e.g., in installments, etc.), then the payments shall be waived in reverse chronological order. 

10.2 The professional firm engaged by Company for general tax purposes as of the day prior to the date of the event that might reasonably be
anticipated to result in severance payments and benefits that would otherwise be subject to the Excise Tax will perform the foregoing calculations. If the tax firm so engaged by Company is serving as accountant or auditor for the acquiring company,
Company will appoint a nationally recognized tax firm to make the determinations required by this Section. Company will bear all expenses with respect to the determinations by such firm required to be made by this Section. Company and Executive
shall furnish such tax firm such information and documents as the tax firm may reasonably request in order to make its required determination. The tax firm will provide its calculations, together with detailed supporting documentation, to Company
and Executive as soon as practicable following its engagement. Any good faith determinations of the tax firm made hereunder will be final, binding and conclusive upon Company and Executive. 

10.3 As a result of the uncertainty in the application of Sections 409A, 280G or 4999 of the Code at the time of the initial
determination by the professional firm described in Section 10.2, it is possible that the Internal Revenue Service (the “IRS”) or other agency will claim that an Excise Tax greater than that amount, if any, determined by
such professional firm for the purposes of Section 10.1 is due (the “Additional Excise Tax”). Executive will notify Company in writing of any claim by the IRS or other agency that, if successful, would require payment of
Additional Excise Tax. Executive and Company shall each reasonably cooperate with the other in connection with any administrative or judicial proceedings concerning the existence or amount of liability for Excise Tax with respect to payments made or
due to Executive. Company shall pay all reasonable fees, expenses and penalties of Executive relating to a claim by the IRS or other agency. In the event it is finally determined that a further reduction would have been required under
Section 10.1(b) to place Executive in a better after-tax position, Executive shall repay Company such amount within thirty (30) days thereof in order to effect such result. 

11. No Conflict of Interest. During the term of Executive’s employment with Company, Executive must not engage in any work, paid
or unpaid, that creates an actual or potential conflict of interest with Company. If the Board reasonably believes such a conflict exists during the term of this Agreement, the Board may ask Executive to choose to discontinue the other work or
resign employment with Company. 
 12. Post-Termination Non-Competition. 

12.1 Consideration For Promise To Refrain From Competing. Executive agrees that Executive’s services are special and unique, that
Company’s disclosure of confidential, proprietary information and specialized training and knowledge to Executive, and that Executive’s level of compensation and benefits are partly in consideration of and conditioned upon Executive not
competing with Company. Executive acknowledges that such consideration is adequate for Executive’s promises contained within this Section 12. 

  
 10 

 12.2 Promise To Refrain From Competing. Executive understands Company’s need for
Executive’s promise not to compete with Company is based on the following: (a) Company has expended, and will continue to expend, substantial time, money and effort in developing its proprietary information; (b) Executive will in the
course of Executive’s employment develop, be personally entrusted with and exposed to Company’s proprietary information; (c) both during and after the term of Executive’s employment, Company will be engaged in the highly
competitive portable storage solution industry; (d) Company provides products and services nationally and internationally; and (e) Company will suffer great loss and irreparable harm if Executive were to enter into competition with
Company. Therefore, in exchange for the consideration described in Section 12.1 above, Executive agrees that for the period of twenty-four (24) months following the date Executive ceases to render services to Company (the
“Covenant Period”), Executive will not either directly or indirectly, whether as an owner, director, officer, manager, consultant, agent or employee: (i) work for a competitor of Company, which is defined to include
those entities or persons in the following business segments: rental and sale of containers, security offices or other portable space solutions, or the rental and sale of specialty containment solutions, or any other business that has been
undertaken, or with respect to which substantial steps towards its undertaking have been implemented, by the Company prior to the Termination Date utilizing the Company’s products (the “Restricted Business”) or
(ii) make or hold during the Covenant Period any investment in any Restricted Business, whether such investment be by way of loan, purchase of stock or otherwise, provided that there shall be excluded from the foregoing the ownership of not
more than 1% of the listed or traded stock of any publicly held corporation. For purposes of this Section 12, the term “Company” shall mean and include Company, any subsidiary or affiliate of Company, any successor to
the business of Company (by merger, consolidation, sale of assets or stock or otherwise) and any other corporation or entity of which Executive may serve as a director, officer or employee at the request of Company or any successor of Company.
Notwithstanding the foregoing, this Section 12.2 shall not be effective on and after a Change in Control unless Executive confirms in writing to the Company on or after such Change in Control that he agrees to be bound by this Section 12.2
following a Change in Control. In the absence of such written confirmation to the Company, this Section 12.2 shall be of no effect and Executive shall not be entitled to the severance benefits under Section 8.2(a) upon an Involuntary
Termination following a Change in Control and shall not be entitled to the equity acceleration set forth in Section 9. 
 12.3
Reasonableness of Restrictions. Executive represents and agrees that the restrictions on competition, as to time, geographic area, and scope of activity, required by this Section 12 are reasonable, do not impose a greater restraint than
is necessary to protect the goodwill and business interests of Company, and are not unduly burdensome to Executive. Executive expressly acknowledges that Company competes on an international basis and that the geographical scope of these limitations
is reasonable and necessary for the protection of Company’s trade secrets and other confidential and proprietary information. Executive further agrees that these restrictions allow Executive an adequate number and variety of employment
alternatives, based on Executive’s varied skills and abilities. Executive represents that Executive is willing and able to obtain other employment not prohibited by this Agreement. 

12.4 Reformation if Necessary. In the event a court of competent jurisdiction determines that the geographic area, duration, or scope
of activity of any restriction under this 

  
 11 

 
Section 12 and its subsections is unenforceable, the restrictions under this Section and its subsections shall not be terminated but shall be reformed and modified to the extent required to
render them valid and enforceable. Executive further agrees that the court may reform this Agreement to extend the Covenant Period by an amount of time equal to any period in which Executive is in breach of this covenant. 

13. Confidentiality and Proprietary Rights. Executive agrees to read, sign and abide by Company’s Employee Innovations and
Proprietary Rights Assignment Agreement, which is incorporated herein by reference. 
 14. Nonsolicitation. 

14.1 Nonsolicitation of Customers or Prospects. Executive acknowledges that information about Company’s customers is confidential
and constitutes trade secrets. Accordingly, Executive agrees that during the term of this Agreement and the Covenant Period, Executive will not, either directly or indirectly, separately or in association with others, interfere with, impair, disrupt
or damage Company’s relationship with any of its customers or customer prospects (defined as prospective customers who had received a written proposal from the Company for Company products or services within the past 12 months) by soliciting or
encouraging others to solicit any of them for the purpose of diverting or taking away business from Company. 
 14.2 Nonsolicitation of
Company’s Employees. Executive agrees that during the term of this Agreement and the Covenant Period, Executive will not, either directly or indirectly, separately or in association with others, interfere with, impair, disrupt or damage
Company’s business by soliciting, encouraging or attempting to hire any of Company’s then employees or causing others to solicit or encourage any of Company’s employees to discontinue their employment with Company. Nothing herein
shall prohibit a general solicitation of employment by Executive or others that is not targeted at Company employees. 
 15. Injunctive
Relief. Executive acknowledges that Executive’s breach of the covenants contained in Sections 12—14 (collectively “Covenants”) would cause irreparable injury to Company and agrees that in the event of any such
breach, Company shall, in addition to the action it is authorized to take pursuant to Section 8.6, be entitled to seek temporary, preliminary and permanent injunctive relief without the necessity of proving actual damages or posting any bond or
other security. 
 16. Agreement to Mediate and Arbitrate. In the event a dispute arises in connection with this Agreement, Company
and Executive agree to submit the dispute to non-binding mediation, with the mediator to be selected and compensated by Company. In the event a resolution is not reached through mediation, then, to the fullest extent permitted by law, Executive and
Company agree to arbitrate any controversy, claim or dispute between them arising out of or in any way related to this Agreement, the employment relationship between Company and Executive and any disputes upon termination of employment, including
but not limited to breach of contract, tort, discrimination, harassment, wrongful termination, demotion, discipline, failure to accommodate, family and medical leave, compensation or benefits claims, constitutional claims; and any claims for
violation of any local, state or federal law, statute, 

  
 12 

 
regulation or ordinance or common law. Claims for breach of Company’s Employee Innovations and Proprietary Rights Agreement, workers’ compensation, unemployment insurance benefits and
Company’s right to obtain injunctive relief pursuant to Section 15 above are excluded. For the purpose of this agreement to arbitrate, references to “Company” include all parent, subsidiary or related entities and their
employees, supervisors, officers, directors, agents, pension or benefit plans, pension or benefit plan sponsors, fiduciaries, administrators, affiliates and all successors and assigns of any of them, and this Agreement shall apply to them to the
extent Executive’s claims arise out of or relate to their actions on behalf of Company. 
 16.1 Initiation of Arbitration.
Either party may exercise the right to arbitrate by providing the other party with written notice of any and all claims forming the basis of such right in sufficient detail to inform the other party of the substance of such claims. In no event shall
the request for arbitration be made after the date when institution of legal or equitable proceedings based on such claims would be barred by the applicable statute of limitations. 

16.2 Arbitration Procedure. The arbitration will be conducted in Maricopa County, Arizona, by a single neutral arbitrator and in
accordance with the then current rules for resolution of employment disputes of the American Arbitration Association (“AAA”), available at
http://www.adr.org/cs/groups/lee/documents/document/dgdf/mda0/~edisp/adrstg_004394.pdf. The parties are entitled to representation by an attorney or other representative of their choosing. The arbitrator shall have the power to enter any
award that could be entered by a judge of the trial court of the State of Arizona, and only such power, and shall follow the law. The parties agree to abide by and perform any award rendered by the arbitrator. Judgment on the award may be entered in
any court having jurisdiction thereof. 
 16.3 Costs of Arbitration. Each party shall bear one half the cost of the arbitration
filing and hearing fees, and the cost of the arbitrator. 
 17. Successors. 

17.1 Company’s Successors. Any successor to Company (whether direct or indirect and whether by purchase, merger, consolidation,
liquidation or otherwise) to all or substantially all of Company’s business and/or assets (a “Successor”) shall assume the obligations under this Agreement and agree expressly to perform the obligations under this
Agreement in the same manner and to the same extent as Company would be required to perform such obligations in the absence of a succession. For all purposes under this Agreement, the term “Company” shall include any Successor becomes
bound by the terms of this Agreement by operation of law. 
 17.2 Executive’s Successors. The terms of this Agreement and all
rights of Executive hereunder shall inure to the benefit of, and be enforceable by, Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. 

18. Notice. 
 18.1
General. Notices and all other communications contemplated by this Agreement shall be in writing and shall be deemed to have been duly given when personally 

  
 13 

 
delivered or one day following mailing via Federal Express or similar overnight courier service. In the case of Executive, mailed notices shall be addressed to Executive at Executive’s home
address that Company has on file for Executive. In the case of Company, mailed notices shall be addressed to its corporate headquarters, and all notices shall be directed to the attention of its General Counsel. 

18.2 Notice of Termination. Any termination by Company for Cause or by Executive pursuant to a Resignation for Good Reason shall be
communicated by a notice of termination to the other party hereto given in accordance with Section 18.1 of this Agreement. Such notice shall indicate the specific termination provision in this Agreement relied upon, shall set forth in
reasonable detail the facts and circumstances claimed to provide a basis for termination under the provision so indicated, and shall specify the termination date, consistent with the requirements of this Agreement. The failure by Executive to
include in the notice any fact or circumstance that contributes to a showing of the existence of Good Reason shall not waive any right of Executive hereunder or preclude Executive from asserting such fact or circumstance in enforcing his rights
hereunder. 
 19. Compliance with Section 409A of the Code. The parties intend that this Agreement (and all payments and other
benefits provided under this Agreement) be exempt from the requirements of Section 409A of the Code and the regulations and ruling issued thereunder (collectively “Section 409A”), to the maximum extent possible, whether
pursuant to the short-term deferral exception described in Treasury Regulation Section 1.409A-1(b)(4), the involuntary separation pay plan exception described in Treasury Regulation Section 1.409A-1(b)(9)(iii), or otherwise. To the extent
Section 409A is applicable to such payments, the parties intend that this Agreement (and such payments and benefits) comply with the deferral, payout and other limitations and restrictions imposed under Section 409A. Notwithstanding any
other provision of this Agreement to the contrary, this Agreement shall be interpreted, operated and administered in a manner consistent with such intentions. Without limiting the generality of the foregoing, and notwithstanding any other provision
of this Agreement to the contrary: 
 19.1 No amount payable pursuant to this Agreement which constitutes a “deferral of
compensation” within the meaning of Section 409A shall be paid unless and until Executive has incurred a “separation from service” within the meaning of Section 409A. Furthermore, to the extent that Executive is a
“specified employee” within the meaning of Section 409A (determined using the identification methodology selected by Company from time to time, or if none, the default methodology) as of the date of Executive’s separation from
service, no amount that constitutes a deferral of compensation which is payable on account of Executive’s separation from service shall paid to Executive before the date (the “Delayed Payment Date”) which is first day of the seventh
month after the date of Executive’s separation from service or, if earlier, the date of Executive’s death following such separation from service. All such amounts that would, but for this Section, become payable prior to the Delayed
Payment Date will be accumulated and paid on the Delayed Payment Date. 
 19.2 Each payment made under this Agreement shall be treated as a
separate payment and the right to a series of installment payments under this Agreement shall be treated as a right to a series of separate payments. 

  
 14 

 19.3 With regard to any provision in this Agreement that provides for reimbursement of expenses
or in-kind benefits, except for any expense, reimbursement or in-kind benefit provided pursuant to this Agreement that does not constitute a “deferral of compensation,” within the meaning of Section 409A, (i) the right to
reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit, (ii) the amount of expenses eligible for reimbursement, or in-kind benefits provided, during any taxable year shall not affect the expenses
eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year, provided that the foregoing clause (ii) shall not be deemed to be violated with regard to expenses reimbursed under any arrangement covered by
Section 105(b) of the Code solely because such expenses are subject to a limit related to the period the arrangement is in effect, and (iii) such payments shall be made on or before the last day of Executive’s taxable year following
the taxable year in which the expense occurred. 
 19.4 Notwithstanding any provision of this Agreement to the contrary, in no event shall
the timing of Executive’s execution of the Release, directly or indirectly, result in Executive designating the calendar year of payment, and if a payment that is subject to execution of the Release could be made in more than one taxable year
of the Executive, payment shall be made in the Executive’s later taxable year. 
 19.5 Company intends that income provided to
Executive pursuant to this Agreement will not be subject to taxation under Section 409A of the Code. However, Company does not guarantee any particular tax effect for income provided to Executive pursuant to this Agreement. 

20. General Provisions. 

20.1 Unfunded Obligation. Any amounts payable to Executive pursuant to this Agreement are unfunded obligations. Company shall not be
required to segregate any monies from its general funds, or to create any trusts, or establish any special accounts with respect to such obligations. Company shall retain at all times beneficial ownership of any investments, including trust
investments, which Company may make to fulfill its payment obligations hereunder. Any investments or the creation or maintenance of any trust or any account shall not create or constitute a trust or fiduciary relationship between the Board or
Company and Executive, or otherwise create any vested or beneficial interest in Executive or Executive’s creditors in any assets of Company. 

20.2 No Duty to Mitigate. Executive shall not be required to mitigate the amount of any payment or benefit contemplated by this
Agreement by seeking employment with a new employer or otherwise, nor shall any such payment or benefit be reduced by any compensation or benefits that Executive may receive from employment by another employer. 

20.3 Waiver. No provision of this Agreement shall be modified, waived or discharged unless the modification, waiver or discharge is
agreed to in writing and signed by Executive and by an authorized officer of Company (other than Executive). No waiver by either party of any breach of, or of compliance with, any condition or provision of this Agreement by the other party shall be
considered a waiver of any other condition or provision or of the same condition or provision at another time. 

  
 15 

 20.4 Attorneys’ Fees. In any dispute relating to this Agreement, either party shall
pay its own attorneys’ fees. 
 20.5 Tax Withholding. All payments made pursuant to this Agreement will be subject to
withholding of applicable taxes. 
 20.6 Choice of Law; Venue. The validity, interpretation, construction and performance of this
Agreement shall be governed by the laws of the State of Arizona without giving effect to any conflict of law principles. For purposes of litigating any dispute that arises directly or indirectly from the relationship of the Parties that is not
subject to arbitration pursuant to Section 16, the parties hereby submit to and consent to the jurisdiction of the State of Arizona and agree that such litigation shall be conducted only in the courts of Maricopa County, Arizona, or the federal
courts of the United States for the District of Arizona, and no other courts. 
 20.7 Severability. In the event any provision of
this Agreement is found to be unenforceable by an arbitrator or court of competent jurisdiction, such provision shall be deemed modified to the extent necessary to allow enforceability of the provision as so limited, it being intended that the
parties shall receive the benefit contemplated herein to the fullest extent permitted by law. If a deemed modification is not satisfactory in the judgment of such arbitrator or court, the unenforceable provision shall be deemed deleted, and the
validity and enforceability of the remaining provisions shall not be affected thereby. 
 20.8 Benefits Not Assignable. Except as
otherwise provided herein or by law, no right or interest of Executive under this Agreement shall be assignable or transferable, in whole or in part, either directly or by operation of law or otherwise, including, without limitation, by execution,
levy, garnishment, attachment, pledge or in any other manner, and no attempted transfer or assignment thereof shall be effective. No right or interest of Executive under this Agreement shall be liable for, or subject to, any obligation or liability
of Executive. 
 20.9 Further Assurances. From time to time, at Company’s request and without further consideration, Executive
shall execute and deliver such additional documents and take all such further action as reasonably requested by Company to be necessary or desirable to make effective, in the most expeditious manner possible, the terms of this Agreement and the
Release, and to provide adequate assurance of Executive’s due performance thereunder. 
 20.10 Interpretation; Construction. The
headings set forth in this Agreement are for convenience only and shall not be used in interpreting this Agreement. This Agreement has been drafted by legal counsel representing Company, but Executive has participated in the negotiation of its
terms. Furthermore, Executive acknowledges that Executive has had an opportunity to review and revise the Agreement and have it reviewed by legal counsel, if desired, and, therefore, the normal rule of construction to the effect that any ambiguities
are to be resolved against the drafting party shall not be employed in the interpretation of this Agreement. 
 20.11 Survival.
Sections 11 (“No Conflict of Interest”), 12 (“Post-Termination Non-Competition”), 13 (“Confidentiality and Proprietary Rights”), 14 (“Nonsolicitation”), 15 (“Injunctive Relief’), 16
(“Agreement to Mediate and Arbitrate”), 20 (“General Provisions”) 

  
 16 

 
and 21 (“Entire Agreement”) of this Agreement shall survive Executive’s employment by Company. 

21. Entire Agreement. This Agreement, together with the exhibits attached hereto or incorporated herein by reference, constitutes the
entire agreement between the Parties relating to this subject matter and supersedes all prior or simultaneous representations, discussions, negotiations, and agreements, whether written or oral. This Agreement may be amended or modified only with
the written consent of Executive and the Board. No oral waiver, amendment or modification will be effective under any circumstances whatsoever. 

22. Reimbursement of Legal Fees. The Company agrees to pay all reasonable legal fees and related expenses incurred by Executive as a
result of entering into this Employment Agreement. 
 [Remainder of page intentionally left blank.] 

  
 17 

 THE PARTIES TO THIS AGREEMENT HAVE READ THE FOREGOING AGREEMENT AND FULLY UNDERSTAND EACH AND
EVERY PROVISION CONTAINED HEREIN. WHEREFORE, THE PARTIES HAVE EXECUTED THIS AGREEMENT ON THE DATES SHOWN BELOW. 
  

							
		 		 	EXECUTIVE
			
	Dated: January 14, 2016	 		 	 /s/ Erik Olsson

		 		 	Erik Olsson
			
		 		 	COMPANY
				
	Dated: January 14, 2016	 		 	By:	 	 /s/ Jeff Goble

		 		 	Name: Jeff Goble
		 		 	Title: Director

 [Signature Page to Executive Employment Agreement] 

 EXHIBIT A  

FORM OF 
 CONFIDENTIAL
SEPARATION AND RELEASE AGREEMENT 
 This Confidential Separation and Release Agreement (“Agreement”) is between
Erik Olsson (“Employee”) and Mobile Mini, Inc. (the “Company”) (hereinafter the “parties”), and is entered into as of
            . This Agreement will not become effective until the expiration of seven (7) days from Employee’s execution of this Agreement (the “Effective
Date”). 
 WHEREAS, Employee has been employed by Company as its Chief Executive Officer and is a party to that certain Amended
and Restated Executive Employment Agreement dated             , 201            , as amended by and between Company and Employee
as then in effect immediately prior to the Effective Date (the “Employment Agreement”). 
 WHEREAS,
the Employee’s employment with Company was terminated effective as of             , 20            (the
“Termination Date”); 
 WHEREAS, Company and Employee desire to avoid disputes and/or litigation regarding
Employee’s termination from employment or any events or circumstances preceding or coincident with the termination from employment; and 

WHEREAS, Company and Employee have agreed upon the terms on which Employee is willing, for sufficient and lawful consideration, to compromise
any claims known and unknown which Employee may have against Company. 
 WHEREAS, the parties desire to settle fully and finally, in the
manner set forth herein, all differences between them which have arisen, or which may arise, prior to, or at the time of, the execution of this Agreement, including, but in no way limited to, any and all claims and controversies arising out of the
employment relationship between Employee and Company, and the termination thereof; 
 NOW, THEREFORE, in consideration of these recitals and
the promises and agreements set forth in this Agreement, Employee’s employment with Company will terminate upon the following terms: 

1. General Release: Employee for himself or herself and on behalf of Employee’s attorneys, heirs, assigns, successors, executors,
and administrators IRREVOCABLY AND UNCONDITIONALLY RELEASES, ACQUITS AND FOREVER DISCHARGES Company and any current or former stockholders, directors, parent, subsidiary, affiliated, and related corporations, firms, associations, partnerships, and
entities, and their successors and assigns, from any and all claims and causes of action whatsoever, whether known or unknown or whether connected with Employee’s employment by Company or not, which may have arisen, or which may arise, prior
to, or at the time of, the execution of this Agreement, including, but not limited to, any claim or cause of action arising out of any contract, express or implied, any covenant of good faith and fair dealing, express or implied, any tort (whether
intentional or released in this agreement), or under Title VII of the Civil Rights Act of 1964, the Age Discrimination in 

  
 C-1 

 
Employment Act, the Americans with Disabilities Act, the Worker Adjustment and Retraining Notification (WARN) Act, the Older Workers Benefit Protection Act, or any other municipal, local, state,
or federal law, common or statutory, but excluding any claims with respect to the Company’s obligations under the Employment Agreement, any claims relating to vested benefits under any Company employee benefit plan (including without limitation
any such plan subject to the Employee Retirement Income Security Act of 1974, as amended) and any claims which Employee cannot release as a matter of applicable law. Furthermore, neither this Agreement nor the Employment Agreement shall apply to,
modify or in any way supersede obligations arising from any of (i) the terms of directors and officers insurance or (ii) any indemnification agreement for the benefit of the Employee as a result of the Employee’s position as a
director or officer of the Company or one of its affiliates. 
 2. Covenant Not to Sue: Employee also COVENANTS NOT TO SUE, OR
OTHERWISE PARTICIPATE IN ANY ACTION OR CLASS ACTION against Company or any of the released parties based upon any of the claims released in this Agreement. 

3. Severance Terms: Upon the expiration of seven (7) days from Employee’s execution of this Agreement and
provided that this Agreement has become effective in accordance with its terms, in consideration for the promises, covenants, agreements, and releases set forth herein and in the Employment Agreement, Company agrees to pay Employee the Severance
Benefits as defined in and pursuant to the Employment Agreement (the “Severance Benefits”). 

4. Right to Revoke: Employee may revoke this Agreement by notice to Company, in writing, received within seven
(7) days of the date of its execution by Employee (the “Revocation Period”). Employee agrees that Employee will not receive the benefits provided by this Agreement if Employee revokes
this Agreement. Employee also acknowledges and agrees that if Company has not received from Employee notice of Employee’s revocation of this Agreement prior to the expiration of the Revocation Period, Employee will have forever waived
Employee’s right to revoke this Agreement, and this Agreement shall thereafter be enforceable and have full force and effect. 

5. Acknowledgement: Employee acknowledges and agrees that: (A) except as to any Severance Benefits which remain unpaid as of the
date of this Agreement, no additional consideration, including salary, wages, bonuses or Equity Awards as described in the Employment Agreement, is to be paid to him by Company in connection with this Agreement; (B) except as provided by this
Agreement, Employee has no contractual right or claim to the Severance Benefits; and, (C) payments pursuant to this Agreement shall terminate immediately if Employee breaches any of the provisions of this Agreement. 

6. Non-Admissions: Employee acknowledges that by entering into this Agreement, Company does not admit, and does specifically deny, any
violation of any local, state, or federal law. 
 7. Confidentiality: Employee agrees that Employee shall not directly or indirectly
disclose the terms, amount or fact of this Agreement to anyone other than Employee’s immediate 

  
 2 

 
family or counsel, bankers or financial advisors, except as such disclosure may be required for accounting or tax reporting purposes or as otherwise may be required by law. 

8. Nondisparagement: Each party agrees that it will not make any statements, written or verbal, or cause or encourage others to make
any statements, written or verbal, that defame, disparage or in any way criticize the personal or business reputation, practices or conduct of the other including, in the case of Company, its employees, directors and stockholders. 

9. Acknowledgement of Restrictions; Confidential Information: Employee acknowledges and agrees that Employee has continuing
non-competition, non-solicitation and non-disclosure obligations under the Employment Agreement and the Employee Innovations and Proprietary Rights Assignment Agreement between Employee and Company (the “Proprietary Rights
Agreement”). Employee acknowledges and reaffirms Employee’s obligation to continue abide fully and completely with all post-employment provisions of the Employment Agreement and the Proprietary Rights Agreement and agrees
that nothing in this Agreement shall operate to excuse or otherwise relieve Employee of such obligations. 
 10. Severability: If any
provision of this Agreement is held to be illegal, invalid, or unenforceable, such provision shall be fully severable and/or construed in remaining part to the full extent allowed by law, with the remaining provisions of this Agreement continuing in
full force and effect. 
 11. Entire Agreement: This Agreement, along with the Employment Agreement and the Proprietary Rights
Agreement which are referred to above, constitute the entire agreement between the Employee and Company, and supersede all prior and contemporaneous negotiations and agreements, oral or written. This Agreement cannot be changed or terminated except
pursuant to a written agreement executed by the parties. 
 12. Governing Law: This Agreement shall be governed by and construed in
accordance with the laws of the State of Arizona, except where preempted by federal law. 
 13. Statement of Understanding: By
executing this Agreement, Employee acknowledges that (a) Employee has had at least twenty-one (21) or forty-five (45) days, as applicable in accordance with the Age Discrimination in Employment Act, as amended, (the
“ADEA”) to consider the terms of this Agreement [and any attachment necessary or desirable in accordance with the ADEA) and has considered its terms for such a period of time or has knowingly and
voluntarily waived Employee’s right to do so by executing this Agreement and returning it to Company; (b) Employee has been advised by Company to consult with an attorney regarding the terms of this Agreement; (c) Employee has
consulted with, or has had sufficient opportunity to consult with, an attorney of Employee’s own choosing regarding the terms of this Agreement; (d) any and all questions regarding the terms of this Agreement have been asked and answered
to Employee’s complete satisfaction; (e) Employee has read this Agreement and fully understands its terms and their import; (f) except as provided by this Agreement, Employee has no contractual right or claim to the benefits and
payments described herein; (g) the consideration provided for herein is good and valuable; and (h) Employee is entering into this Agreement  

  
 3 

 
voluntarily, of Employee’s own free will, and without any coercion, undue influence, threat, or intimidation of any kind or type whatsoever. 

HAVING READ AND UNDERSTOOD THIS AGREEMENT, CONSULTED COUNSEL OR VOLUNTARILY ELECTED NOT TO CONSULT COUNSEL, AND HAVING HAD SUFFICIENT TIME TO
CONSIDER WHETHER TO ENTER INTO THIS AGREEMENT, THE UNDERSIGNED HEREBY EXECUTE THIS AGREEMENT ON THE DATES SET FORTH BELOW. 
  

							
	EMPLOYEE	 		 	MOBILE MINI, INC
				
	  
	 		 	By:	 	  

	Erik Olsson	 		 	Name:
		 		 	Title:
			
	Date:	 		 	Date:

  
 4

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