Document:

EX-10.4

 Exhibit 10.4 

ROKU, INC. 

2008 EQUITY INCENTIVE PLAN 

OPTION AGREEMENT 

(INCENTIVE STOCK OPTION OR NONSTATUTORY STOCK
OPTION) 
 Pursuant to your Stock Option Grant Notice (“Grant Notice”) and this Option Agreement,
Roku, Inc. (the “Company”) has granted you an option under its 2008 Equity Incentive Plan (the “Plan”) to purchase the number of shares of the Company’s Common Stock indicated in
your Grant Notice at the exercise price indicated in your Grant Notice. Defined terms not explicitly defined in this Option Agreement but defined in the Plan shall have the same definitions as in the Plan. 

The details of your option are as follows: 

1. VESTING. Subject to the limitations contained herein, your option will vest as provided in your Grant Notice,
provided that vesting will cease upon the termination of your Continuous Service. 
 2. NUMBER OF
SHARES AND EXERCISE PRICE. The number of shares of Common Stock subject to your option and your exercise price per share referenced in your Grant Notice may be adjusted from time to
time for Capitalization Adjustments. 
 3. EXERCISE RESTRICTION FOR
NON-EXEMPT EMPLOYEES. In the event that you are an Employee eligible for overtime compensation under the Fair Labor Standards Act of 1938, as amended (i.e., a “Non-Exempt
Employee”), you may not exercise your option until you have completed at least six (6) months of Continuous Service measured from the Date of Grant specified in your Grant Notice, notwithstanding any other provision of your option.

 4. EXERCISE PRIOR TO VESTING (“EARLY
EXERCISE”). If permitted in your Grant Notice (i.e., the “Exercise Schedule” indicates “Early Exercise Permitted”) and subject to the provisions of your option, you may elect at any time that is
both (i) during the period of your Continuous Service and (ii) during the term of your option, to exercise all or part of your option, including the unvested portion of your option; provided, however, that: 

(a) a partial exercise of your option shall be deemed to cover first vested shares of Common Stock and then the earliest vesting
installment of unvested shares of Common Stock; 
 (b) any shares of Common Stock so purchased from installments that have not
vested as of the date of exercise shall be subject to the purchase option in favor of the Company as described in the Company’s form of Early Exercise Stock Purchase Agreement; 

(c) you shall enter into the Company’s form of Early Exercise Stock Purchase Agreement with a vesting schedule that will result in
the same vesting as if no early exercise had occurred; and 

  
 1. 

 (d) if your option is an Incentive Stock Option, then, to the extent that the aggregate
Fair Market Value (determined at the time of grant) of the shares of Common Stock with respect to which your option plus all other Incentive Stock Options you hold are exercisable for the first time by you during any calendar year (under all plans
of the Company and its Affiliates) exceeds one hundred thousand dollars ($100,000), your option(s) or portions thereof that exceed such limit (according to the order in which they were granted) shall be treated as Nonstatutory Stock Options.

 5. METHOD OF PAYMENT. Payment of the exercise price
is due in full upon exercise of all or any part of your option. You may elect to make payment of the exercise price in cash or by check or in any other manner permitted by your Grant Notice, which may include one or more of the
following: 
 (a) Provided that at the time of exercise the Common Stock is publicly traded and quoted
regularly in The Wall Street Journal, pursuant to a program developed under Regulation T as promulgated by the Federal Reserve Board that, prior to the issuance of Common Stock, results in either the receipt of cash (or check) by the Company
or the receipt of irrevocable instructions to pay the aggregate exercise price to the Company from the sales proceeds. 

(b) Provided that at the time of exercise the Common Stock is publicly traded and quoted regularly in The Wall Street
Journal, by delivery to the Company (either by actual delivery or attestation) of already-owned shares of Common Stock that are owned free and clear of any liens, claims, encumbrances or security interests, and that are valued at Fair Market
Value on the date of exercise. Notwithstanding the foregoing, you may not exercise your option by tender to the Company of Common Stock to the extent such tender would violate the provisions of any law, regulation or agreement restricting the
redemption of the Company’s stock. 
 6. WHOLE SHARES. You may exercise your option only
for whole shares of Common Stock. 
 7. SECURITIES LAW COMPLIANCE. Notwithstanding
anything to the contrary contained herein, you may not exercise your option unless the shares of Common Stock issuable upon such exercise are then registered under the Securities Act or, if such shares of Common Stock are not then so registered, the
Company has determined that such exercise and issuance would be exempt from the registration requirements of the Securities Act. The exercise of your option also must comply with other applicable laws and regulations governing your option, and you
may not exercise your option if the Company determines that such exercise would not be in material compliance with such laws and regulations. 

8. TERM. You may not exercise your option before the commencement of its term or after its term expires. The term of
your option commences on the Date of Grant and expires upon the earliest of the following: 
 (a) immediately upon the termination of
your Continuous Service for Cause; 
 (b) three (3) months after the termination of your Continuous Service for any reason other
than Cause, Disability or death, provided that if during any part of such three (3)-

  
 2. 

 
month period you may not exercise your option solely because of the condition set forth in the preceding paragraph relating to “Securities Law Compliance,” your option shall not expire
until the earlier of the Expiration Date or until it shall have been exercisable for an aggregate period of three (3) months after the termination of your Continuous Service; 

(c) twelve (12) months after the termination of your Continuous Service due to your Disability; 

(d) eighteen (18) months after your death if you die either during your Continuous Service or within three (3) months after
your Continuous Service terminates for any reason other than Cause; 
 (e) the Expiration Date indicated in your Grant Notice;
or 
 (f) the day before the tenth (10th) anniversary of the Date of Grant. 

If your option is an Incentive Stock Option, note that, to obtain the federal income tax advantages associated with an Incentive Stock Option,
the Code requires that at all times beginning on the date of grant of your option and ending on the day three (3) months before the date of your option’s exercise, you must be an employee of the Company or an Affiliate, except in the event
of your death or Disability. The Company has provided for extended exercisability of your option under certain circumstances for your benefit but cannot guarantee that your option will necessarily be treated as an Incentive Stock Option if you
continue to provide services to the Company or an Affiliate as a Consultant or Director after your employment terminates or if you otherwise exercise your option more than three (3) months after the date your employment terminates. 

9. EXERCISE. 

(a) You may exercise the vested portion of your option (and the unvested portion of your option if your Grant Notice so permits) during
its term by delivering a Notice of Exercise (in a form designated by the Company) together with the exercise price to the Secretary of the Company, or to such other person as the Company may designate, during regular business hours, together with
such additional documents as the Company may then require. 
 (b) By exercising your option you agree that, as a condition to
any exercise of your option, the Company may require you to enter into an arrangement providing for the payment by you to the Company of any tax withholding obligation of the Company arising by reason of (1) the exercise of your option,
(2) the lapse of any substantial risk of forfeiture to which the shares of Common Stock are subject at the time of exercise, or (3) the disposition of shares of Common Stock acquired upon such exercise. 

(c) If your option is an Incentive Stock Option, by exercising your option you agree that you will notify the Company in writing within
fifteen (15) days after the date of any disposition of any of the shares of the Common Stock issued upon exercise of your option that occurs within two (2) years after the date of your option grant or within one (1) year after such
shares of Common Stock are transferred upon exercise of your option. 

  
 3. 

 (d) By exercising your option you agree that you shall not sell, dispose of,
transfer, make any short sale of, grant any option for the purchase of, or enter into any hedging or similar transaction with the same economic effect as a sale, any shares of Common Stock or other securities of the Company held by you, for a period
of one hundred eighty (180) days following the effective date of a registration statement of the Company filed under the Securities Act or such longer period as necessary to permit compliance with NASD Rule 2711 or NYSE Member Rule 472 and
similar rules and regulations (the “Lock-Up Period”); provided, however, that nothing contained in this section shall prevent the exercise of a repurchase option, if any, in favor of the Company during
the Lock-Up Period. You further agree to execute and deliver such other agreements as may be reasonably requested by the Company and/or the underwriter(s) that are consistent with the foregoing or that are necessary to give further effect thereto.
In order to enforce the foregoing covenant, the Company may impose stop-transfer instructions with respect to your shares of Common Stock until the end of such period. The underwriters of the Company’s stock are intended third party
beneficiaries of this Section 9(d) and shall have the right, power and authority to enforce the provisions hereof as though they were a party hereto. 

10. TRANSFERABILITY. Your option is not transferable, except by will or by the laws of descent and distribution, and is
exercisable during your life only by you. Notwithstanding the foregoing, by delivering written notice to the Company, in a form satisfactory to the Company, you may designate a third party who, in the event of your death, shall thereafter be
entitled to exercise your option. In addition, if permitted by the Company you may transfer your option to a trust if you are considered to be the sole beneficial owner (determined under Section 671 of the Code and applicable state law) while
the option is held in the trust, provided that you and the trustee enter into a transfer and other agreements required by the Company. 

11. RIGHT OF FIRST REFUSAL. Shares of Common Stock that you acquire upon
exercise of your option are subject to any right of first refusal that may be described in the Company’s bylaws in effect at such time the Company elects to exercise its right; provided, however, that if your option is an Incentive Stock
Option and the right of first refusal described in the Company’s bylaws in effect at the time the Company elects to exercise its right is more beneficial to you than the right of first refusal described in the Company’s bylaws on the Date
of Grant, then the right of first refusal described in the Company’s bylaws on the Date of Grant shall apply. The Company’s right of first refusal shall expire on the first date upon which any security of the Company is listed (or approved
for listing) upon notice of issuance on a national securities exchange or quotation system. 
 12. RIGHT OF
REPURCHASE. To the extent provided in the Company’s bylaws in effect at such time the Company elects to exercise its right, the Company shall have the right to repurchase all or any part of the shares of Common Stock you
acquire pursuant to the exercise of your option. 
 13. OPTION NOT A SERVICE
CONTRACT. Your option is not an employment or service contract, and nothing in your option shall be deemed to create in any way whatsoever any obligation on your part to continue in the employ of the Company or an Affiliate, or of
the Company or an Affiliate to continue your employment. In addition, nothing in your option shall obligate the Company or an Affiliate, their respective stockholders, Boards of Directors, Officers or Employees to continue any relationship that you
might have as a Director or Consultant for the Company or an Affiliate. 

  
 4. 

 14. WITHHOLDING OBLIGATIONS. 

(a) At the time you exercise your option, in whole or in part, or at any time thereafter as requested by the Company, you hereby
authorize withholding from payroll and any other amounts payable to you, and otherwise agree to make adequate provision for (including by means of a “cashless exercise” pursuant to a program developed under Regulation T as promulgated by
the Federal Reserve Board to the extent permitted by the Company), any sums required to satisfy the federal, state, local and foreign tax withholding obligations of the Company or an Affiliate, if any, which arise in connection with the exercise of
your option. 
 (b) Upon your request and subject to approval by the Company, in its sole discretion, and compliance with any
applicable legal conditions or restrictions, the Company may withhold from fully vested shares of Common Stock otherwise issuable to you upon the exercise of your option a number of whole shares of Common Stock having a Fair Market Value, determined
by the Company as of the date of exercise, not in excess of the minimum amount of tax required to be withheld by law (or such lower amount as may be necessary to avoid classification of your option as a liability for financial accounting purposes).
If the date of determination of any tax withholding obligation is deferred to a date later than the date of exercise of your option, share withholding pursuant to the preceding sentence shall not be permitted unless you make a proper and timely
election under Section 83(b) of the Code, covering the aggregate number of shares of Common Stock acquired upon such exercise with respect to which such determination is otherwise deferred, to accelerate the determination of such tax
withholding obligation to the date of exercise of your option. Notwithstanding the filing of such election, shares of Common Stock shall be withheld solely from fully vested shares of Common Stock determined as of the date of exercise of your option
that are otherwise issuable to you upon such exercise. Any adverse consequences to you arising in connection with such share withholding procedure shall be your sole responsibility. 

(c) You may not exercise your option unless the tax withholding obligations of the Company and/or any Affiliate are satisfied.
Accordingly, you may not be able to exercise your option when desired even though your option is vested, and the Company shall have no obligation to issue a certificate for such shares of Common Stock or release such shares of Common Stock from any
escrow provided for herein unless such obligations are satisfied. 
 15. TAX
CONSEQUENCES. You hereby agree that the Company does not have a duty to design or administer the Plan or its other compensation programs in a manner that minimizes your tax liabilities. You shall not make any
claim against the Company, or any of its Officers, Directors, Employees or Affiliates related to tax liabilities arising from your option or your other compensation. In particular, you acknowledge that this option is exempt from Section 409A of
the Code only if the exercise price per share specified in the Grant Notice is at least equal to the “fair market value” per share of the Common Stock on the Date of Grant and there is no other impermissible deferral of compensation
associated with the option. Because the Common Stock is not traded on an established securities market, the Fair Market Value is determined by the Board, perhaps in consultation with an independent valuation firm retained by the Company.

  
 5. 

 
You acknowledge that there is no guarantee that the Internal Revenue Service will agree with the valuation as determined by the Board, and you shall not make any claim against the Company, or any
of its Officers, Directors, Employees or Affiliates in the event that the Internal Revenue Service asserts that the valuation determined by the Board is less than the “fair market value” as subsequently determined by the Internal Revenue
Service. 
 16. NOTICES. Any notices provided for in your option or the Plan shall be given in writing and shall be
deemed effectively given upon receipt or, in the case of notices delivered by mail by the Company to you, five (5) days after deposit in the United States mail, postage prepaid, addressed to you at the last address you provided to the Company.

 17. GOVERNING PLAN DOCUMENT. Your option is subject to all the provisions of the
Plan, the provisions of which are hereby made a part of your option, and is further subject to all interpretations, amendments, rules and regulations, which may from time to time be promulgated and adopted pursuant to the Plan. In the event of any
conflict between the provisions of your option and those of the Plan, the provisions of the Plan shall control. 

  
 6. 

 ROKU, INC. 

STOCK OPTION GRANT NOTICE 

2008 EQUITY INCENTIVE PLAN 

Roku, Inc. (the “Company”), pursuant to its 2008 Equity Incentive Plan (the “Plan”), hereby
grants to Optionholder an option to purchase the number of shares of the Company’s Common Stock set forth below. This option is subject to all of the terms and conditions as set forth herein and in the Option Agreement, the Plan, and the Notice
of Exercise, all of which are attached hereto and incorporated herein in their entirety. 
  

					
	Optionholder:	 	  
	 	
	Date of Grant:	 	  
	 	
	Vesting Commencement Date:	 	  
	 	
	Number of Shares Subject to Option:	 	  
	 	
	Exercise Price (Per Share):	 	  
	 	
	Total Exercise Price:	 	  
	 	
	Expiration Date:	 	  
	 	

  

					
	Type of Grant:	  	☐   Incentive Stock Option1	  	☐   Nonstatutory Stock Option
			
	Exercise Schedule:	  	☐   Same as Vesting Schedule	  	☐   Early Exercise Permitted
		
	Vesting Schedule:	  	[1/4th of the shares vest one year after the Vesting Commencement Date; the balance of the shares vest in a series of thirty-six (36) successive equal monthly
installments measured from the first anniversary of the Vesting Commencement Date.]
		
	Payment:	  	By one or a combination of the following items (described in the Option Agreement):
		
		  	☐   By cash or check
		  	☐   Pursuant to a Regulation T Program if the Shares are publicly traded
		  	☐   By delivery of already-owned shares if the Shares are publicly traded

 Additional Terms/Acknowledgements: The undersigned Optionholder acknowledges receipt of, and understands and agrees to,
this Stock Option Grant Notice, the Option Agreement and the Plan. Optionholder further acknowledges that as of the Date of Grant, this Stock Option Grant Notice, the Option Agreement, and the Plan set forth the entire understanding between
Optionholder and the Company regarding the acquisition of stock in the Company and supersede all prior oral and written agreements on that subject with the exception of (i) options previously granted and delivered to Optionholder under the
Plan, and (ii) the following agreements only: 
  

					
	OTHER AGREEMENTS:	  		  	  

		  		  	  

  

									
	 ROKU, INC.
	  		  	OPTIONHOLDER:
				
	By:	  	  
	  		  	  

		  	Signature	  		  		  	Signature
	Title:	  	  
	  		  	Date:	  	  

	Date:	  	  
	  		  		  	

 ATTACHMENTS: Option Agreement, Roku, Inc. 2008 Equity Incentive Plan and Notice of
Exercise 
  

	1 	If this is an Incentive Stock Option, it (plus other outstanding Incentive Stock Options) cannot be first exercisable for more than $100,000 in value (measured by exercise price) in any calendar year. Any excess
over $100,000 is a Nonstatutory Stock Option. 

  
 1. 

 ATTACHMENT I 

OPTION AGREEMENT 

  
 2. 

 ATTACHMENT II 

ROKU, INC. 

2008 EQUITY INCENTIVE PLAN 

  
 3. 

 ATTACHMENT III 

NOTICE OF EXERCISE 

  
 4.EX-10.9

 Exhibit 10.9 
  

 
 November 15, 2013 

Stephen H. Kay 
 Dear Steve, 

Thanks for expressing interest in joining us at Roku, Inc. (the “Company”). It is clear that your experience, judgment, and leadership would
be of enormous benefit to the Company. 
 Accordingly, I am pleased to offer you the position of Senior Vice President & General Counsel
under the terms and conditions contained in the Appendix to this letter. 
 We face many exciting challenges and I have high expectations for the
Company. I am confident that with your skills and experience, you can make a great contribution and will develop your own skills at the same time. I think you’ll find our Company to be a fun and exciting place to work. You’ll be working
with a group of excellent, dedicated professionals producing innovative new consumer electronics products and services. 
 I’m looking forward to
working with you! 
  

	
	Best Regards,
	
	/s/ Anthony Wood
	Anthony Wood
	Chief Executive Officer
	ROKU, INC.

  
 1 

 Employment Terms Agreement 

Roku, Inc. (“Roku” or the “Company”) is pleased to offer you employment with the Company. The following Employment Terms
Agreement (the “Agreement”) sets forth the terms and conditions of your employment relationship with the Company. 
  

	1.	Position and Start Date. 

  

	 	a.	Position: Senior Vice President & General Counsel, reporting to Anthony Wood, Chief Executive Officer, working out of the Company’s office in Los Angeles, California. As the Company’s
Senior Vice President & General Counsel, you shall serve as the chief legal and compliance officer of the Company and it subsidiaries, if any, as well as the corporate secretary of the Company. It is expected that you will travel to the
Company’s office in Saratoga, California as appropriate for your position and you will attend most Roku Board meetings and Executive Staff meetings in person. The Company has the discretion to modify your position, duties, reporting
relationship and office location from time to time, provided that, certain such changes may provide Good Reason for you to terminate your employment as set forth in this Agreement. Pursuant to paragraph 3.c hereof, Roku will reimburse you for
your reasonable travel and lodging expenses incurred in connection with such travel. 

  

	 	b.	Start date: January 2, 2014. 

  

	2.	Compensation. 

  

	 	a.	Base Salary. You will be paid base salary at the initial annual rate of $500,000, less payroll deductions and all required withholdings. Your salary will be payable pursuant to the Company’s regular
payroll policy. Normal business hours are 9:00 a.m. to 5:00 p.m. Monday through Friday. As an exempt salaried employee, you will be expected to work additional hours as required by the nature of your work assignments, and you are not eligible for
overtime pay. 

  

	 	b.	Initial Option Grant. Subject to approval by the Company’s Board of Directors (the “Board”) on or prior to your start date, you will be granted an option to purchase 2,815,623 shares
of the Company’s common stock on your start date with an exercise price equal to the current fair market value of the common stock on the date of grant (as determined by the Board) pursuant to the Company’s 2008 Equity Incentive Plan. Your
initial option grant will vest as follows, subject to your continued service to the Company and the accelerated vesting provisions described below in connection with a Corporate Transaction: twenty-five percent (25%) of the shares subject to
the option grant will vest on the first anniversary of your vesting commencement date (which shall be no later than your start date referred to in paragraph 1.b above), and the remaining seventy-five percent (75%) of the shares subject to the
option grant will vest in thirty six (36) equal monthly installments thereafter, such that as of the fourth anniversary of the vesting commencement date the initial option grant will be fully vested. Your initial option grant will be governed
in full by the terms of an option agreement (which shall reflect the terms set forth in this paragraph 2.b) and the Company’s 2008 Equity Incentive Plan. 

  
 2 

 Further, (i) upon the closing of a Corporate Transaction (as defined below), twenty five
percent (25%) of the shares subject to your initial option grant shall vest immediately, and (ii) in the event that your employment is terminated without Cause (as defined below) by the Company or you terminate your employment for Good
Reason (as defined below) (in either case, such termination occurring within twelve (12) months following a Corporate Transaction) then one hundred percent (100%) of the shares subject to your initial option grant that are still unvested
shall vest immediately, subject to your signing, dating, returning to the Company, and allowing to become effective, a general release of all known and unknown claims in a form reasonably acceptable to the Company. 

For purposes of this Agreement, the Company shall be deemed to have terminated your employment for “Cause” only in the event
of a termination of your employment following: (i) conviction of, a guilty plea with respect to, or a plea of nolo contendere to, a charge that you have committed a felony under the laws of the United States or of any state or a crime involving
moral turpitude, including, but not limited to, fraud, theft, embezzlement or any other crime that results in or is intended to result in personal enrichment at the expense of the Company or any Affiliate (as defined herein); (ii) material
breach by you of (A) any fully executed written agreement entered into between you and the Company or any Affiliate, including but not limited to this Agreement or the Employee Proprietary Information and Inventions Agreement by and between you
and the Company, or (B) any written policy of the Company or an Affiliate which is applicable to you, in each case which breach is reasonably likely to cause material harm to the Company or an Affiliate; or (iii) your willful misconduct in
connection with the performance of the duties and responsibilities of your position with the Company or your position with an Affiliate. In the event the Company determines that Cause for termination exists under clauses (ii), or (iii) hereof,
and if such Cause is reasonably capable of being cured, the Company shall provide you with written notice of its intent to terminate for Cause and the basis therefor (which written notice must be provided within sixty (60) days after the first
occurrence of such event giving rise to Cause), and you shall be given thirty (30) days to cure such ground for Cause. After the expiration of any such cure period, the Company shall provide you with an additional notice in writing as to
whether you have cured such ground for termination for Cause. For purposes of this Agreement, “Affiliate” means any parent corporation or subsidiary corporation of the Company, whether now or hereafter existing, as those terms are
defined in Sections 424(e) and (f), respectively, of the Internal Revenue Code of 1986, as amended. 
 For purposes of this Agreement,
“Corporate Transaction” shall mean any consolidation or merger of the Company with or into any other corporation or other entity; or any transaction or series of related transactions to which the Company is a party in which in
excess of fifty percent (50%) of the Company’s voting power is transferred; or a sale, lease, exclusive, irrevocable license or other direct or indirect disposition of all or substantially all of the assets of the Company. 

For purposes of this Agreement, you shall be deemed to have terminated your employment for “Good Reason” only in the event you
terminate your employment following any of the following actions by the Company or a successor corporation or 

  
 3 

 
entity, taken without your prior written consent: (i) a material diminution of your position, duties and responsibilities; (ii) the Company requires you to relocate your principal
office location more than fifty (50) miles from your current office location and such relocation materially increases your commuting distance (provided that, after January 1, 2015, the Company has the discretion to provide you with
reasonable prior written notice requiring you to relocate your principal office location on or after June 30, 2015 to the Company’s office in Saratoga (or to another San Francisco Bay Area office location) and such relocation will not
provide grounds for Good Reason termination); (iii) a reduction in your annualized base salary; or (iv) a material breach by the Company of any fully executed written agreement entered into between you and the Company or an Affiliate,
including this Agreement. Before terminating your employment for Good Reason under clauses (i), (ii), (iii) or (iv) hereof, you shall give the Company written notice of your intent to terminate for Good Reason and the basis therefor (which
written notice must be provided within sixty (60) days after the first occurrence of such event giving rise to Good Reason), and the Company shall have thirty (30) days to cure such ground for Good Reason (the “Company Cure
Period”). After the expiration of the Company Cure Period, you shall provide the Company with an additional notice in writing as to whether the Company has cured such ground for termination for Good Reason and, if the ground for Good Reason
termination has not been reasonably cured, your resignation from all positions you then hold with the Company (including any subsidiary or parent entities) must be effective not later than thirty (30) days after the expiration of the Company
Cure Period. 
  

	 	c.	Annual Review. Your base salary will be reviewed each calendar year as part of the Company’s normal salary review process, and may be modified within the Company’s discretion as a result of any such
annual review. 

  

	 	d.	Participation in Equity Incentive Plans. You shall be eligible to be considered for periodic grants of equity incentive awards pursuant to the terms and conditions of the controlling equity incentive plans for
the Company and its employees, if any, as in effect during the period of your employment and shall be considered for awards under any such plans as and when such grants are considered generally for other peer executives of the Company. Without
limiting the generality of the foregoing, you shall be eligible to be considered for periodic grants of equity incentive awards pursuant to the Company’s 2008 Equity Incentive Plan made during 2014, if and when such grants are considered
generally for other peer executives of the Company. Any decision to grant you such equity incentive awards and the amount thereof shall be determined in the sole and absolute discretion of the Board, or the administrators of such equity incentive
plans, as applicable. 

  

	 	e.	Participation in Other Incentive and/or Retention Plans. You shall be eligible to participate in such other incentive and/or retention plans for the Company and its employees, if any, subject to the terms and
conditions of such plans, as in effect from time to time during the period of your employment and shall be considered for awards under any such plans as and when such awards are considered generally for other peer executives of the Company. Without
limiting the generality of the foregoing such other plans could include, annual bonus, long-term incentive, change in control or severance plans, if any, as in effect from time to time during the period of your employment. Any decision to grant you
any such awards and the amounts thereof shall be determined in the sole and absolute discretion of the Company, or the administrators of such incentive plans, as applicable. 

  
 4 

	 	f.	Conflict of Interests. During your employment, you shall devote your full business efforts and time to Roku. Roku agrees that you may serve on the boards of directors of other companies that are approved in
advance by Roku’s Board of Directors, and/or on the boards of charitable or community organizations. Your outside business activities must not interfere with your employment with the Company, must not be on behalf of competitors, and must not
present a conflict of interest with the Company or its interests. 

  

	3.	Benefits. Paid Time Off and Expense Reimbursement. 

  

	 	a.	Benefits. Subject to the terms, conditions and limitations of the Company’s benefit plans, you will be eligible to participate in and shall receive benefits under the Company’s welfare benefit plans,
policies and programs to the extent applicable generally to other peer executives of the Company. Such benefits currently consist of 401(k) Plan, medical, dental, life and disability insurance coverage. In the event that the Company requires you to
relocate your principal office location to the San Francisco Bay Area, you shall be entitled to reimbursement of your reasonable out-of-pocket relocation expenses. 

 

	 	b.	Paid Time Off. You will be subject to the Company’s Time Off and Leave of Absence Policy, a copy of which will be provided to you prior to or on your employment start date. 

 

	 	c.	Expense Reimbursement. Roku will reimburse you for reasonable business expenses incurred in connection with your employment, upon presentation of appropriate documentation in accordance with the Company’s
expense reimbursement policies. In light of your position, your reimbursable business expenses hereunder would be expected to include professional licensing fees, the costs of membership in professional organizations, and the costs of participation
in continuing legal education programs. 

 The Company retains the discretion to modify its benefit plans, practices, policies
and programs at any time. 
  

	4.	Employee Proprietary Information and Inventions Agreement; Protection of Third Party Information. As an employee of the Company, you will have access to certain Company confidential information and you
may, during the course of your employment, develop certain information or inventions which will be the property of the Company. To protect the interest of the Company, you will need to sign and comply with the Company’s standard “Employee
Proprietary Information and Inventions Agreement” as a condition of your employment. The Employee Proprietary Information and Inventions Agreement is enclosed with this Agreement. In your work for the Company, you are expected not to make
unauthorized use or disclosure of any confidential or proprietary information or materials, including trade secrets, of any former employer or other third party to whom you have an obligation of confidentiality. Rather, you will be expected to use
only that 

  
 5 

 information which is generally known and used by persons with training and experience comparable
to your own, which is common knowledge in the industry or otherwise legally in the public domain, or which is otherwise provided or developed by the Company or by you in the course of your employment. By signing this Agreement, you represent that
you are able to perform your job duties within these guidelines, and you are not in unauthorized possession of any confidential documents or other property of any former employer or other third party. In addition, you hereby represent that you have
disclosed to the Company in writing any agreement you may have with any third party (e.g., a former employer) which may conflict with or limit your ability to perform your duties to the Company. 

 

	5.	At-Will Employment. Your employment with the Company is “at will.” You may terminate your employment at any time simply by notifying the Company. Likewise, the Company may terminate your
employment at any time, with or without cause, and with or without advance notice. 

  

	6.	Severance Benefits. In the event that your employment with the Company is terminated by the Company without Cause (as defined in paragraph 2.b above), or you terminate your employment with the Company for
Good Reason (as defined in paragraph 2.b above), then the Company shall provide you with the severance benefits set forth in this paragraph 6 (the “Severance Benefits”), subject to your signing, dating, and returning to the Company
(on or within forty-five (45) days following the effective date of your termination), and not subsequently revoking, a general release of all known and unknown claims (excluding the Severance Benefits set forth in this paragraph 6) in a form
reasonably acceptable to the Company (which release of claims may be incorporated into a separation agreement). No Severance Benefits will be provided prior to the effective date of the release of claims. The Severance Benefits are as follows:

  

	 	a.	Severance Payments. You shall receive severance pay in the form of salary continuation of your regular base salary in effect at the time of the termination of your employment (excluding any reduction in such base
salary that provided the basis for Good Reason, if applicable), and the Company shall provide such severance pay (pursuant to the Company’s regular payroll policy, and subject to applicable payroll deductions and tax withholdings) during the
nine (9) month period immediately following the date on which your employment with the Company terminates (the “Severance Payments”); provided, however, that, if you commence new full-time employment (or a full-time consulting
engagement) within such nine (9) month period, the Severance Payments shall cease on the later of (i) the date six (6) months after your employment with the Company terminates or (ii) the date you commence new full-time
employment or full-time consulting. You agree to provide prompt written notice to the Company if you obtain full-time employment or serve as a consultant on a full-time basis within the nine-month period after your termination date.

  

	 	b.	Company-Paid COBRA Premiums. Provided that you timely elect continued group health insurance coverage pursuant to federal COBRA laws or comparable state insurance laws (“COBRA”), the Company will
pay or reimburse you for premium payment amounts for such COBRA coverage (including the cost of dependent coverage, if applicable) for nine (9) months following the termination of your employment provided that you remain eligible for COBRA
coverage, and provided further, that the 

  
 6 

 Company’s payment or reimbursement will cease earlier if you become eligible for group
health insurance coverage through a new employer (such time period to be the “COBRA Reimbursement Period”). Notwithstanding the foregoing, if at any time the Company determines, in its sole discretion, that its reimbursement of your
COBRA premiums could result in a violation of applicable law or application of any penalties (including, without limitation, under Section 105(h)(2) of the Internal Revenue Code, as amended (the “Code”) and Section 2716 of
the Public Health Service Act), then in lieu of paying or reimbursing your COBRA premiums, the Company will pay you on the last day of each remaining month of the COBRA Reimbursement Period a cash payment equal to the COBRA premium for that month,
subject to applicable tax withholding. 
 The Severance Benefits set forth in this paragraph 6 shall be the sole severance benefits you will
receive, except that, in the event that you are eligible to receive, and are receiving, greater severance pay and benefits continuation under a Company plan, then you shall receive such greater severance pay and benefits instead, and the Severance
Benefits in this Agreement shall not apply. 
  

	7.	IRS Code Section 409A. All payments provided hereunder are intended to constitute separate payments for purposes of Treasury Regulation Section 1.409A-2(b)(2). If the Company determines that any
benefits provided under this Agreement constitute “deferred compensation” under Section 409A of the Code, then the following shall apply: (a) such benefits will not commence in connection with your termination of employment
unless such termination also qualifies as a “separation from service” with the Company within the meaning of Treasury Regulation Section 1.409A-1 (h) (without regard to any permissible alternative definition thereunder)
(“Separation from Service”); and (b) if you are a “specified employee” of the Company or any affiliate thereof (or any successor entity thereto) within the meaning of Section 409A(a)(2)(B)(i) of the Code on the
date of your Separation from Service, then the payment of any such benefits shall be delayed until the earlier of (i) the date that is six (6) months and one (1) day after the date of your Separation from Service, or (ii) the
date of your death (such date, the “Delayed Payment Date”), and the Company (or the successor entity thereto, as applicable) shall (A) pay to you a lump sum amount equal to the sum of the benefit payments that otherwise would
have been paid to you on or before the Delayed Payment Date, and (B) continue the benefit payments in accordance with any applicable payment schedules set forth for the balance of the period specified in this Agreement. COBRA premiums paid
hereunder are intended to be paid pursuant to the exception provided by Treasury Regulation Section 1.409A-l(b)(9)(v)(B). In addition to the above, to the extent required to comply with Section 409A and the applicable regulations and
guidance issued thereunder, if the forty-five-day period during which you are required to execute (and not revoke) the release of claims discussed in paragraph 6 spans two calendar years, your Severance Benefits shall commence to be paid in
installments on the first regularly scheduled payroll date that occurs in the second calendar year. 

  

	8.	Background Investigations and Background Checks. The Company reserves the right to conduct background investigations and/or reference checks on all of its potential employees. Your job offer, therefore, is
contingent upon a clearance of such a background investigation and/or reference check, if any. The Company will complete any such background investigation and/or reference check prior to December 1, 2013. 

  
 7 

	9.	Entire Agreement. This Agreement, together with your Employee Proprietary Information and Inventions Agreement, forms the complete and exclusive statement of your employment agreement with the Company. The
employment terms in this Agreement supersede any other agreements or promises made to you by anyone, whether oral or written. This Agreement cannot be changed except in a writing signed by you and a duly authorized officer of the Company. For
purposes of clarity, the Company shall be entitled to terminate or change the terms and conditions of your employment, subject to the provisions of this Agreement. As required by law, this offer is subject to satisfactory proof of your
identity and right to work in the United States. 

 To indicate your acceptance of our offer, please sign and date this Agreement in
the space provided below, and sign and date the enclosed Employee Proprietary Information and Inventions Agreement, and return both fully signed documents to me no later than the close of business on November 22, 2013. The Company’s
offer will expire if we do not receive these fully signed documents within the aforementioned timeframe. 
 We look forward to your favorable reply and to a
productive and enjoyable work relationship. 
  

	
	Very truly yours,
	
	/s/ Anthony Wood
	Anthony Wood
	Chief Executive Officer
	ROKU, INC.

 Enclosure: Employee Proprietary Information and Inventions Agreement  

UNDERSTOOD AND AGREED: 
  

	
	Stephen H. Kay
	
	/s/ Stephen H. Kay
	Signature
	
	November 16, 2013
	Date

  
 8

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