Document:

2006 Stock Plan and forms of agreements thereunder

 Exhibit 10.2 
 GUIDEWIRE SOFTWARE, INC. 

2006 STOCK PLAN 
 ADOPTED ON FEBRUARY 7, 2007, AMENDED ON JUNE 1, 2007, JUNE 28, 2007
AND 
 SEPTEMBER 20, 2007 AND AMENDED AND
RESTATED ON JULY 28, 2009 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
		
	 SECTION 1. Establishment And Purpose
	  	 	1	  
		
	 SECTION 2. Administration
	  	 	1	  
	 (a)
	  	 Committees of the Board of Directors
	  	 	1	  
	 (b)
	  	 Authority of the Board of Directors
	  	 	1	  
	 SECTION 3. Eligibility
	  	 	1	  
	 (a)
	  	 General Rule
	  	 	1	  
	 (b)
	  	 Ten-Percent Stockholders
	  	 	1	  
		
	 SECTION 4. Stock Subject To Plan
	  	 	2	  
	 (a)
	  	 Basic Limitation
	  	 	2	  
	 (b)
	  	 Additional Shares
	  	 	2	  
		
	 SECTION 5. Terms And Conditions Of Awards Or Sales
	  	 	2	  
	 (a)
	  	 Stock Purchase Agreement
	  	 	2	  
	 (b)
	  	 Duration of Offers and Nontransferability of Rights
	  	 	2	  
	 (c)
	  	 Purchase Price
	  	 	2	  
	 (d)
	  	 Withholding Taxes
	  	 	2	  
	 (e)
	  	 Restrictions on Transfer of Shares and Minimum Vesting
	  	 	3	  
		
	 SECTION 6. Terms And Conditions Of Options
	  	 	3	  
	 (a)
	  	 Stock Option Agreement
	  	 	3	  
	 (b)
	  	 Number of Shares
	  	 	3	  
	 (c)
	  	 Exercise Price
	  	 	3	  
	 (d)
	  	 Exercisability
	  	 	3	  
	 (e)
	  	 Basic Term
	  	 	4	  
	 (f)
	  	 Termination of Service (Except by Death)
	  	 	4	  
	 (g)
	  	 Leaves of Absence
	  	 	4	  
	 (h)
	  	 Death of Optionee
	  	 	4	  
	 (i)
	  	 Restrictions on Transfer of Shares and Minimum Vesting
	  	 	5	  
	 (j)
	  	 Transferability of Options
	  	 	5	  
	 (k)
	  	 Withholding Taxes
	  	 	5	  
	 (l)
	  	 No Rights as a Stockholder
	  	 	6	  
	 (m)
	  	 Modification, Extension and Assumption of Options
	  	 	6	  
		
	 SECTION 7. Payment For Shares
	  	 	6	  
	 (a)
	  	 General Rule
	  	 	6	  
	 (b)
	  	 Services Rendered
	  	 	6	  
	 (c)
	  	 Promissory Note
	  	 	6	  
	 (d)
	  	 Surrender of Stock
	  	 	6	  
	 (e)
	  	 Exercise/Sale
	  	 	6	  
	 (f)
	  	 Other Forms of Payment
	  	 	6	  

  
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	SECTION 8. Adjustment Of Shares	  	 	7	  
	 (a)
	    	 General
	  	 	7	  
	 (b)
	    	 Mergers and Consolidations
	  	 	7	  
	 (c)
	    	 Reservation of Rights
	  	 	8	  
		
	SECTION 9. Securities Law Requirements	  	 	8	  
	 (a)
	    	 General
	  	 	8	  
	 (b)
	    	 Financial Reports
	  	 	8	  
		
	SECTION 10. No Retention Rights	  	 	9	  
		
	SECTION 11. Duration and Amendments	  	 	9	  
	 (a)
	    	 Term of the Plan
	  	 	9	  
	 (b)
	    	 Right to Amend or Terminate the Plan
	  	 	9	  
	 (c)
	    	 Effect of Amendment or Termination
	  	 	9	  
		
	SECTION 12. Definitions	  	 	9	  

  
 ii 

 GUIDEWIRE SOFTWARE, INC. 2006
STOCK PLAN 
 SECTION 1. ESTABLISHMENT AND PURPOSE. 

The Plan is adopted as an amendment and restatement of the 2002 Stock Option/Stock Issuance Plan. The purpose of the Plan
is to offer selected persons an opportunity to acquire a proprietary interest in the success of the Company, or to increase such interest, by purchasing Shares of the Company’s Stock. The Plan provides both for the direct award or sale of
Shares and for the grant of Options to purchase Shares. Options granted under the Plan may include Nonstatutory Options as well as ISOs intended to qualify under Section 422 of the Code. 

Capitalized terms are defined in Section 12. 
 SECTION 2. ADMINISTRATION. 
 (a) Committees of the Board
of Directors. The Plan may be administered by one or more Committees. Each Committee shall consist of one or more members of the Board of Directors who have been appointed by the Board of Directors. Each Committee shall have such authority and
be responsible for such functions as the Board of Directors has assigned to it. If no Committee has been appointed, the entire Board of Directors shall administer the Plan. Any reference to the Board of Directors in the Plan shall be construed as a
reference to the Committee (if any) to whom the Board of Directors has assigned a particular function. 
 (b)
Authority of the Board of Directors. Subject to the provisions of the Plan, the Board of Directors shall have full authority and discretion to take any actions it deems necessary or advisable for the administration of the Plan. All decisions,
interpretations and other actions of the Board of Directors shall be final and binding on all Purchasers, all Optionees and all persons deriving their rights from a Purchaser or Optionee. 
 SECTION 3. ELIGIBILITY. 
 (a) General Rule. Only
Employees, Outside Directors and Consultants shall be eligible for the grant of Nonstatutory Options or the direct award or sale of Shares. Only Employees shall be eligible for the grant of ISOs. 

(b) Ten-Percent Stockholders. A person who owns more than 10% of the total combined voting power of all classes of
outstanding stock of the Company, its Parent or any of its Subsidiaries shall not be eligible for designation as an Optionee or Purchaser unless (i) the Exercise Price is at least 110% of the Fair Market Value of a Share on the date of grant,
(ii) the Purchase Price (if any) is at least 100% of the Fair Market Value of a Share and (iii) in the case of an ISO, such ISO by its terms is not exercisable after the expiration of five years from the date of grant. For purposes of this
Subsection (b), in determining stock ownership, the attribution rules of Section 424(d) of the Code shall be applied. 

 SECTION 4. STOCK SUBJECT TO PLAN. 

(a) Basic Limitation. Not more than twelve million nine hundred ten thousand one hundred
eighty-two (12,910,182) Shares1 may be issued under
the Plan (subject to Subsection (b) below and Section 8(a)); provided however that for each Share the Company issues upon exercise of options granted under its 2009 Stock Plan, then one Share shall be reduced from the number of
Shares available to be issued under this Plan. All of these Shares may be issued upon the exercise of ISOs. The number of Shares that are subject to Options or other rights outstanding at any time under the Plan shall not exceed the number of Shares
that then remain available for issuance under the Plan. The Company, during the term of the Plan, shall at all times reserve and keep available sufficient Shares to satisfy the requirements of the Plan. Shares offered under the Plan may be
authorized but unissued Shares or treasury Shares. 
 (b) Additional Shares. In the event that Shares
previously issued under the Plan are reacquired by the Company, such Shares shall be added to the number of Shares then available for issuance under the Plan. In the event that an outstanding Option or other right for any reason expires or is
canceled, the Shares allocable to the unexercised portion of such Option or other right shall be added to the number of Shares then available for issuance under the Plan. 
 SECTION 5. TERMS AND CONDITIONS OF AWARDS OR SALES. 
 (a)
Stock Purchase Agreement. Each award or sale of Shares under the Plan (other than upon exercise of an Option) shall be evidenced by a Stock Purchase Agreement between the Purchaser and the Company. Such award or sale shall be subject to all
applicable terms and conditions of the Plan and may be subject to any other terms and conditions which are not inconsistent with the Plan and which the Board of Directors deems appropriate for inclusion in a Stock Purchase Agreement. The provisions
of the various Stock Purchase Agreements entered into under the Plan need not be identical. 
 (b) Duration
of Offers and Nontransferability of Rights. Any right to acquire Shares under the Plan (other than an Option) shall automatically expire if not exercised by the Purchaser within 30 days after the grant of such right was communicated to the
Purchaser by the Company. Such right shall not be transferable and shall be exercisable only by the Purchaser to whom such right was granted. 
 (c) Purchase Price. The Purchase Price of Shares to be offered under the Plan shall not be less than 85% of the Fair Market Value of such Shares, and a higher percentage may be required by
Section 3(b). Subject to the preceding sentence, the Board of Directors shall determine the Purchase Price at its sole discretion. The Purchase Price shall be payable in a form described in Section 7. 

(d) Withholding Taxes. As a condition to the purchase of Shares, the Purchaser shall make such arrangements as the
Board of Directors may require for the 
  
  

	1 	 Includes 777,000-share increase approved by the Board of Directors on June 1, 2007 to be effective on June 28, 2007, 471,340-share
increase approved by the Board of Directors on June 28, 2007 to be effective September 20, 2007, and 1,688,848-share increase approved by the Board of Directors on September 20, 2007. 

  
 2 

 satisfaction of any federal, state, local or foreign withholding tax obligations that may
arise in connection with such purchase. 
 (e) Restrictions on Transfer of Shares and Minimum Vesting.
Any Shares awarded or sold under the Plan shall be subject to such special forfeiture conditions, rights of repurchase, rights of first refusal and other transfer restrictions as the Board of Directors may determine. Such restrictions shall be set
forth in the applicable Stock Purchase Agreement and shall apply in addition to any restrictions that may apply to holders of Shares generally. In the case of a Purchaser who is not an officer of the Company, an Outside Director or a Consultant:

 (i) Any right to repurchase the Purchaser’s Shares at the original Purchase Price (if any) upon
termination of the Purchaser’s Service shall lapse at least as rapidly as 20% per year over the five-year period commencing on the date of the award or sale of the Shares; 

(ii) Any such right may be exercised only for cash or for cancellation of indebtedness incurred in purchasing the Shares;
and 
 (iii) Any such right may be exercised only within 90 days after the termination of the Purchaser’s
Service. 
 SECTION 6. TERMS AND CONDITIONS OF OPTIONS. 

(a) Stock Option Agreement. Each grant of an Option under the Plan shall be evidenced by a Stock Option Agreement
between the Optionee and the Company. The Option shall be subject to all applicable terms and conditions of the Plan and may be subject to any other terms and conditions which are not inconsistent with the Plan and which the Board of Directors deems
appropriate for inclusion in a Stock Option Agreement. The provisions of the various Stock Option Agreements entered into under the Plan need not be identical. 
 (b) Number of Shares. Each Stock Option Agreement shall specify the number of Shares that are subject to the Option and shall provide for the adjustment of such number in accordance with
Section 8. The Stock Option Agreement shall also specify whether the Option is an ISO or a Nonstatutory Option. 
 (c) Exercise Price. Each Stock Option Agreement shall specify the Exercise Price. The Exercise Price of any Option shall not be less than 100% of the Fair Market Value of a Share on the date of
grant, and a higher percentage may be required by Section 3(b). Subject to the preceding sentence, the Exercise Price shall be determined by the Board of Directors at its sole discretion. The Exercise Price shall be payable in a form described
in Section 7. 
 (d) Exercisability. Each Stock Option Agreement shall specify the date when all or
any installment of the Option is to become exercisable. No Option shall be exercisable unless the Optionee (i) has delivered an executed copy of the Stock Option Agreement to the Company or (ii) otherwise agrees to be bound by the terms of
the Stock Option Agreement. In the case of an Optionee who is not an officer of the Company, an Outside Director or a Consultant, an Option shall become exercisable at least as rapidly as 20% per year over the five- 

  
 3 

 
year period commencing on the date of grant. Subject to the preceding sentence, the Board of Directors shall determine the exercisability provisions of the Stock Option Agreement at its sole
discretion. All of an Optionee’s Options shall become exercisable in full if Section 8(b)(iv) applies. 
 (e) Basic Term. The Stock Option Agreement shall specify the term of the Option. The term shall not exceed 10 years from the date of grant, and a shorter term may be required by Section 3(b).
Subject to the preceding sentence, the Board of Directors at its sole discretion shall determine when an Option is to expire. 
 (f) Termination of Service (Except by Death). If an Optionee’s Service terminates for any reason other than the Optionee’s death, then the Optionee’s Options shall expire on the
earliest of the following occasions: 
 (i) The expiration date determined pursuant to Subsection (e) above;

 (ii) The date three months after the termination of the Optionee’s Service for any reason other than
Disability, or such later date as the Board of Directors may determine; or 
 (iii) The date six months after the
termination of the Optionee’s Service by reason of Disability, or such later date as the Board of Directors may determine. 

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

(g) Leaves of Absence. For purposes of Subsection (f) above, Service shall be deemed to continue while the
Optionee is on a bona fide leave of absence, if such leave was approved by the Company in writing and if continued crediting of Service for this purpose is expressly required by the terms of such leave or by applicable law (as determined by the
Company). 
 (h) Death of Optionee. If an Optionee dies while the Optionee is in Service, then the
Optionee’s Options shall expire on the earlier of the following dates: 

  
 4 

 (i) The expiration date determined pursuant to Subsection (e) above; or

 (ii) The date 12 months after the Optionee’s death, or such later date as the Board of Directors may
determine. 
 All or part of the Optionee’s Options may be exercised at any time before the expiration of such Options
under the preceding sentence by the executors or administrators of the Optionee’s estate or by any person who has acquired such Options directly from the Optionee by beneficiary designation, bequest or inheritance, but only to the extent that
such Options had become exercisable before the Optionee’s death (or became exercisable as a result of the death) and the underlying Shares had vested before the Optionee’s death (or vested as a result of the Optionee’s death). The
balance of such Options shall lapse when the Optionee dies. 
 (i) Restrictions on Transfer of Shares and
Minimum Vesting. Any Shares issued upon exercise of an Option shall be subject to such special forfeiture conditions, rights of repurchase, rights of first refusal and other transfer restrictions as the Board of Directors may determine. Such
restrictions shall be set forth in the applicable Stock Option Agreement and shall apply in addition to any restrictions that may apply to holders of Shares generally. In the case of an Optionee who is not an officer of the Company, an Outside
Director or a Consultant: 
 (i) Any right to repurchase the Optionee’s Shares at the
original Exercise Price upon termination of the Optionee’s Service shall lapse at least as rapidly as 20% per year over the five-year period commencing on the date of the option grant; 

(ii) Any such right may be exercised only for cash or for cancellation of indebtedness incurred in
purchasing the Shares; and 
 (iii) Any such right may be exercised only within 90 days after the
later of (A) the termination of the Optionee’s Service or (B) the date of the option exercise. 

(j) Transferability of Options. An Option shall be transferable by the Optionee only by (i) a beneficiary
designation, (ii) a will or (iii) the laws of descent and distribution, except as provided in the next sentence. If the applicable Stock Option Agreement so provides, a Nonstatutory Option shall also be transferable by gift or domestic
relations order to a Family Member of the Optionee. An ISO may be exercised during the lifetime of the Optionee only by the Optionee or by the Optionee’s guardian or legal representative. 

(k) Withholding Taxes. As a condition to the exercise of an Option, the Optionee shall make such arrangements as
the Board of Directors may require for the satisfaction of any federal, state, local or foreign withholding tax obligations that may arise in connection with such exercise. The Optionee shall also make such arrangements as the Board of Directors may
require for the satisfaction of any federal, state, local or foreign withholding tax obligations that may arise in connection with the disposition of Shares acquired by exercising an Option. 

  
 5 

 (l) No Rights as a Stockholder. An Optionee, or a transferee of an
Optionee, shall have no rights as a stockholder with respect to any Shares covered by the Optionee’s Option until such person becomes entitled to receive such Shares by filing a notice of exercise and paying the Exercise Price pursuant to the
terms of such Option. 
 (m) Modification, Extension and Assumption of Options. Within the limitations of
the Plan, the Board of Directors may modify, extend or assume outstanding Options or may accept the cancellation of outstanding Options (whether granted by the Company or another issuer) in return for the grant of new Options for the same or a
different number of Shares and at the same or a different Exercise Price. The foregoing notwithstanding, no modification of an Option shall, without the consent of the Optionee, impair the Optionee’s rights or increase the Optionee’s
obligations under such Option. 
 SECTION 7. PAYMENT FOR SHARES. 

(a) General Rule. The entire Purchase Price or Exercise Price of Shares issued under the Plan shall be payable in
cash or cash equivalents at the time when such Shares are purchased, except as otherwise provided in this Section 7. 
 (b) Services Rendered. At the discretion of the Board of Directors, Shares may be awarded under the Plan in consideration of services rendered to the Company, a Parent or a Subsidiary prior to the
award. 
 (c) Promissory Note. At the discretion of the Board of Directors, all or a portion of the
Purchase Price or Exercise Price (as the case may be) of Shares issued under the Plan may be paid with a full-recourse promissory note. The Shares shall be pledged as security for payment of the principal amount of the promissory note and interest
thereon. The interest rate payable under the terms of the promissory note shall not be less than the minimum rate (if any) required to avoid the imputation of additional interest under the Code. Subject to the foregoing, the Board of Directors (at
its sole discretion) shall specify the term, interest rate, amortization requirements (if any) and other provisions of such note. 
 (d) Surrender of Stock. At the discretion of the Board of Directors, all or any part of the Exercise Price may be paid by surrendering, or attesting to the ownership of, Shares that are already
owned by the Optionee. Such Shares shall be surrendered to the Company in good form for transfer and shall be valued at their Fair Market Value as of the date when the Option is exercised. 

(e) Exercise/Sale. To the extent that a Stock Option Agreement so provides, and if Stock is publicly traded, all
or part of the Exercise Price and any withholding taxes may be paid by the delivery (on a form prescribed by the Company) of an irrevocable direction to a securities broker approved by the Company to sell Shares and to deliver all or part of the
sales proceeds to the Company. 
 (f) Other Forms of Payment. To the extent that a Stock Purchase
Agreement or Stock Option Agreement so provides, the Purchase Price or Exercise Price of 

  
 6 

 
Shares issued under the Plan may be paid in any other form permitted by the Delaware General Corporation Law, as amended. 
 SECTION 8. ADJUSTMENT OF SHARES. 
 (a)
General. In the event of a subdivision of the outstanding Stock, a declaration of a dividend payable in Shares, a combination or consolidation of the outstanding Stock into a lesser number of Shares, a reclassification, or any
other increase or decrease in the number of issued shares of Stock effected without receipt of consideration by the Company, proportionate adjustments shall automatically be made in each of (i) the number of Shares available for future grants
under Section 4, (ii) the number of Shares covered by each outstanding Option and (iii) the Exercise Price under each outstanding Option. In the event of a declaration of an extraordinary dividend payable in a form other than Shares
in an amount that has a material effect on the Fair Market Value of the Stock, a recapitalization, a spin-off, or a similar occurrence, the Board of Directors at its sole discretion may make appropriate adjustments in one or more of (i) the
number of Shares available for future grants under Section 4, (ii) the number of Shares covered by each outstanding Option or (iii) the Exercise Price under each outstanding Option. 

(b) Mergers and Consolidations. In the event that the Company is a party to a merger or consolidation, all
outstanding Options shall be subject to the agreement of merger or consolidation. Such agreement shall provide for one or more of the following: 
 (i) The continuation of such outstanding Options by the Company (if the Company is the surviving corporation). 

(ii) The assumption of such outstanding Options by the surviving corporation or its parent in a manner
that complies with Section 424(a) of the Code (whether or not such Options are ISOs). 

(iii) The substitution by the surviving corporation or its parent of new options for such outstanding
Options in a manner that complies with Section 424(a) of the Code (whether or not such Options are ISOs). 
 (iv) Full exercisability of such outstanding Options and full vesting of the Shares subject to such Options, followed by the cancellation of such Options. The full exercisability of such Options and full
vesting of the Shares subject to such Options may be contingent on the closing of such merger or consolidation. The Optionees shall be able to exercise such Options during a period of not less than five full business days preceding the closing date
of such merger or consolidation, unless (A) a shorter period is required to permit a timely closing of such merger or consolidation and (B) such shorter period still offers the Optionees a reasonable opportunity to exercise such Options.
Any exercise of such Options during such period may be contingent on the closing of such merger or consolidation. 

  
 7 

 (v) The cancellation of such outstanding Options and a
payment to the Optionees equal to the excess of (A) the Fair Market Value of the Shares subject to such Options (whether or not such Options are then exercisable or such Shares are then vested) as of the closing date of such merger or
consolidation over (B) their Exercise Price. Such payment shall be made in the form of cash, cash equivalents, or securities of the surviving corporation or its parent with a Fair Market Value equal to the required amount. Such payment may be
made in installments and may be deferred until the date or dates when such Options would have become exercisable or such Shares would have vested. Such payment may be subject to vesting based on the Optionee’s continuing Service, provided that
the vesting schedule shall not be less favorable to the Optionee than the schedule under which such Options would have become exercisable or such Shares would have vested. If the Exercise Price of the Shares subject to such Options exceeds the Fair
Market Value of such Shares, then such Options may be cancelled without making a payment to the Optionees. For purposes of this Paragraph (v), the Fair Market Value of any security shall be determined without regard to any vesting conditions
that may apply to such security. 
 (c) Reservation of Rights. Except as provided in this
Section 8, an Optionee or Purchaser shall have no rights by reason of (i) any subdivision or consolidation of shares of stock of any class, (ii) the payment of any dividend or (iii) any other increase or decrease in the number of
shares of stock of any class. Any issuance by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, shall not affect, and no adjustment by reason thereof shall be made with respect to, the number
or Exercise Price of Shares subject to an Option. The grant of an Option pursuant to the Plan shall not affect in any way the right or power of the Company to make adjustments, reclassifications, reorganizations or changes of its capital or business
structure, to merge or consolidate or to dissolve, liquidate, sell or transfer all or any part of its business or assets. 
 SECTION 9.
SECURITIES LAW REQUIREMENTS. 
 (a) General. Shares shall not be issued under the Plan
unless the issuance and delivery of such Shares comply with (or are exempt from) all applicable requirements of law, including (without limitation) the Securities Act of 1933, as amended, the rules and regulations promulgated thereunder, state
securities laws and regulations, and the regulations of any stock exchange or other securities market on which the Company’s securities may then be traded. 

(b) Financial Reports. The Company each year shall furnish to Optionees, Purchasers and stockholders who
have received Stock under the Plan its balance sheet and income statement, unless such Optionees, Purchasers or stockholders are key Employees whose duties with the Company assure them access to equivalent information. Such balance sheet and income
statement need not be audited. 

  
 8 

 SECTION 10. NO RETENTION RIGHTS. 

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

SECTION 11. DURATION AND AMENDMENTS. 
 (a) Term of the Plan. The Plan shall serve as an amendment and restatement of the 2002 Stock Option/Stock Issuance Plan. The Plan, as set forth herein, shall become effective on the date of
its adoption by the Board of Directors, subject to the approval of the Company’s stockholders. If the stockholders fail to approve the Plan within 12 months after its adoption by the Board of Directors, then any grants, exercises or sales that
have already occurred under the Plan shall be rescinded and no additional grants, exercises or sales shall thereafter be made under the Plan. The Plan shall terminate automatically 10 years after the later of (i) the date the Board of Directors
adopted the amendment and restatement of the Plan or (ii) the date the Board of Directors approved the most recent increase in the number of Shares reserved under Section 4 that was also approved by the Company’s stockholders. The
Plan may be terminated on any earlier date pursuant to Subsection (b) below. All options outstanding under the Plan prior to this amendment and restatement as of such date shall, immediately upon adoption of the restated Plan, remain
outstanding in accordance with their terms and shall continue to be governed solely by the terms of the documents evidencing such option. 
 (b) Right to Amend or Terminate the Plan. The Board of Directors may amend, suspend or terminate the Plan at any time and for any reason; provided, however, that any amendment of the Plan
shall be subject to the approval of the Company’s stockholders if it (i) increases the number of Shares available for issuance under the Plan (except as provided in Section 8) or (ii) materially changes the class of persons who
are eligible for the grant of ISOs. Stockholder approval shall not be required for any other amendment of the Plan. If the stockholders fail to approve an increase in the number of Shares reserved under Section 4 within 12 months after its
adoption by the Board of Directors, then any grants, exercises or sales that have already occurred in reliance on such increase shall be rescinded and no additional grants, exercises or sales shall thereafter be made in reliance on such increase.

 (c) Effect of Amendment or Termination. No Shares shall be issued or sold under the Plan after
the termination thereof, except upon exercise of an Option granted prior to such termination. The termination of the Plan, or any amendment thereof, shall not affect any Share previously issued or any Option previously granted under the Plan.

 SECTION 12. DEFINITIONS. 
 (a) “2009 Stock Plan” shall mean the Guidewire Software, Inc. 2009 Stock Plan approved by the Board of Directors on July 28, 2009. 

  
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 (b) “Board of Directors” shall mean the Board of Directors
of the Company, as constituted from time to time. 
 (c) “Change in Control” shall mean a
change in ownership or control of the Company effected through any of the following transactions: 
  

	 	i.	 a stockholder-approved merger or consolidation in which securities possessing more than fifty percent (50%) of the total combined voting power
of the Company’s outstanding securities are transferred to a person or persons different from the persons holding those securities immediately prior to such transaction, or 

 

	 	ii.	 a stockholder-approved sale, transfer or other disposition of all or substantially all of the Company’s assets in complete liquidation or
dissolution of the Company, or 

  

	 	iii.	 the acquisition, directly or indirectly, by any person or related group of persons (other than the Company or a person that directly or indirectly
controls, is controlled by, or is under common control with, the Company), of beneficial ownership (within the meaning of Rule 13-d3 of the 1934 Act) of securities possessing more than fifty percent (50%) of the total combined voting power of
the Company’s outstanding securities pursuant to a tender or exchange offer made directly to the Company’s stockholders. 

 In no event shall any public offering of the Company’s securities be deemed to constitute a Change in Control. 

(d) “Code” shall mean the Internal Revenue Code of 1986, as amended. 

(e) “Committee” shall mean a committee of the Board of Directors, as described in Section 2(a).

 (f) “Company” shall mean Guidewire Software, Inc., a Delaware corporation. 

(g) “Consultant” shall mean a person who performs bona fide services for the Company, a Parent or a
Subsidiary as a consultant or advisor, excluding Employees and Outside Directors. 
 (h)
“Disability” shall mean that the Optionee is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment. 

(i) “Employee” shall mean any individual who is a common-law employee of the Company, a Parent or a
Subsidiary. 

  
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 (j) “Exercise Price” shall mean the amount for which one
Share may be purchased upon exercise of an Option, as specified by the Board of Directors in the applicable Stock Option Agreement. 
 (k) “Fair Market Value” shall mean the fair market value of a Share, as determined by the Board of Directors in accordance with applicable law. Such determination shall be conclusive and
binding on all persons. 
 (l) “Family Member” shall mean (i) any child, stepchild,
grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law or sister-in-law, including adoptive relationships, (ii) any person sharing
the Optionee’s household (other than a tenant or employee), (iii) a trust in which persons described in Clause (i) or (ii) have more than 50% of the beneficial interest, (iv) a foundation in which persons described in
Clause (i) or (ii) or the Optionee control the management of assets and (v) any other entity in which persons described in Clause (i) or (ii) or the Optionee own more than 50% of the voting interests. 

(m) “ISO” shall mean an employee incentive stock option described in Section 422(b) of the Code.

 (n) “Nonstatutory Option” shall mean a stock option not described in Sections 422(b) or
423(b) of the Code. 
 (o) “Option” shall mean an ISO or Nonstatutory Option granted under the
Plan and entitling the holder to purchase Shares. 
 (p) “Optionee” shall mean a person who
holds an Option. 
 (q) “Outside Director” shall mean a member of the Board of Directors who is
not an Employee. 
 (r) “Parent” shall mean any corporation (other than the Company) in an
unbroken chain of corporations ending with the Company, if each of the corporations other than the Company owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain. A
corporation that attains the status of a Parent on a date after the adoption of the Plan shall be considered a Parent commencing as of such date. 
 (s) “Plan” shall mean this Guidewire Software, Inc. 2006 Stock Plan. 
 (t) “Purchase Price” shall mean the consideration for which one Share may be acquired under the Plan (other than upon exercise of an Option), as specified by the Board of Directors.

 (u) “Purchaser” shall mean a person to whom the Board of Directors has offered the right to
acquire Shares under the Plan (other than upon exercise of an Option). 

  
 11 

 (v) “Service” shall mean service as an Employee, Outside
Director or Consultant. 
 (w) “Share” shall mean one share of Stock, as adjusted in accordance
with Section 8 (if applicable). 
 (x) “Stock” shall mean the Common Stock of the Company.

 (y) “Stock Option Agreement” shall mean the agreement between the Company and an Optionee
that contains the terms, conditions and restrictions pertaining to the Optionee’s Option. 
 (z)
“Stock Purchase Agreement” shall mean the agreement between the Company and a Purchaser who acquires Shares under the Plan that contains the terms, conditions and restrictions pertaining to the acquisition of such Shares.

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

  
 12 

 GUIDEWIRE SOFTWARE, INC. 2006
STOCK PLAN 
 NOTICE OF STOCK
OPTION GRANT 
 (EARLY EXERCISE) 

The Optionee has been granted the following option to purchase shares of the Common Stock of Guidewire Software, Inc.: 

 

			
	 Name of Optionee:
	  	 «Name»

		
	 Total Number of Shares:
	  	 «Total_Shares»

		
	 Type of Option:
	  	 «ISO»     Incentive Stock Option (ISO)

		
		  	 «NSO»   Nonstatutory Stock Option (NSO)

		
	 Exercise Price per Share:
	  	 $«PricePerShare»

		
	 Date of Grant:
	  	 «DateGrant»

		
	 Date Exercisable:
	  	 Except as otherwise provided in the Stock Option Agreement, this option may be exercised at any time after the Date of Grant for all or any part of the Shares
subject to this option.

		
	 Vesting Commencement Date:
	  	 «VestComDate»

		
	 Vesting Schedule:
	  	 The Right of Repurchase shall lapse with respect to the first 25% of the Shares subject to this option when the Optionee completes 12 months of continuous
Service after the Vesting Commencement Date set forth above. The Right of Repurchase shall lapse with respect to an additional 1/48th of the Shares subject to this option when the Optionee completes each month of continuous Service
thereafter.

		
	 Expiration Date:
	  	 «ExpDate». The day immediately prior to the Expiration Date is the last date on which this option may be exercised, unless this option expires
earlier than the Expiration Date because the Optionee’s Service terminates earlier, as provided in Section 6 of the Stock Option Agreement.

 By signing below, the Optionee and the Company agree that this option is granted under, and governed by
the terms and conditions of, the 2006 Stock Plan and the Stock Option Agreement. Both of these documents are attached to, and made a part of, this Notice of Stock Option Grant. Section 14 of the Stock Option Agreement includes important
acknowledgements of the Optionee, which are accepted and confirmed by the Optionee’s signature below. 
  

							
	OPTIONEE:	 		 	GUIDEWIRE SOFTWARE, INC.
				
	  
	 		 	 By:
	  	  

				
		 		 	 Title:
	  	  

 THE OPTION GRANTED PURSUANT TO THIS AGREEMENT AND THE SHARES ISSUABLE UPON THE EXERCISE
THEREOF HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, PLEDGED, OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION THEREOF UNDER SUCH ACT OR AN OPINION OF COUNSEL, SATISFACTORY TO THE COMPANY
AND ITS COUNSEL, THAT SUCH REGISTRATION IS NOT REQUIRED. 
 GUIDEWIRE SOFTWARE,
INC. 2006 STOCK PLAN: 
 STOCK OPTION
AGREEMENT 
 (EARLY EXERCISE) 

SECTION 1. GRANT OF OPTION. 
 (a) Option. On the terms and conditions set forth in the Notice of Stock Option Grant and this Agreement, the Company grants to the Optionee on the Date of Grant the option to purchase at the
Exercise Price the number of Shares set forth in the Notice of Stock Option Grant. The Exercise Price is agreed to be at least 100% of the Fair Market Value per Share on the Date of Grant (110% of Fair Market Value if Section 3(b) of the Plan
applies). This option is intended to be an ISO or an NSO, as provided in the Notice of Stock Option Grant. 

(b) $100,000 Limitation. Even if this option is designated as an ISO in the Notice of Stock Option Grant, it shall
be deemed to be an NSO to the extent (and only to the extent) required by the $100,000 annual limitation under Section 422(d) of the Code. 
 (c) Stock Plan and Defined Terms. This option is granted pursuant to the Plan, a copy of which the Optionee acknowledges having received. The provisions of the Plan are incorporated into this
Agreement by this reference. Capitalized terms are defined in Section 15 of this Agreement. 
 SECTION 2. RIGHT TO EXERCISE.

 (a) Exercisability. Subject to Subsection (b) below and the other conditions set forth in this
Agreement, all or part of this option may be exercised prior to its expiration at the time or times set forth in the Notice of Stock Option Grant. Shares purchased by exercising this option may be subject to the Right of Repurchase under
Section 7. In addition, this option shall become vested and exercisable in full if Section 8(b)(iv) of the Plan applies. 
 (b) Stockholder Approval. Any other provision of this Agreement notwithstanding, no portion of this option shall be exercisable at any time prior to the approval of the Plan by the Company’s
stockholders. 

  
 1 

 SECTION 3. NO TRANSFER OR ASSIGNMENT OF OPTION. 

Except as otherwise provided in this Agreement, this option and any rights and privileges conferred hereby shall not be
sold, pledged or otherwise transferred (whether by operation of law or otherwise) and shall not be subject to sale under execution, attachment, levy or similar process. 
 SECTION 4. EXERCISE PROCEDURES. 
 (a) Notice of
Exercise. The Optionee or the Optionee’s representative may exercise this option by giving written notice to the Company pursuant to Section 13(b). The notice shall specify the election to exercise this option, the number of Shares for
which it is being exercised and the form of payment. The person exercising this option shall sign the notice. In the event that this option is being exercised by the representative of the Optionee, the notice shall be accompanied by proof
(satisfactory to the Company) of the representative’s right to exercise this option. The Optionee or the Optionee’s representative shall deliver to the Company, at the time of giving the notice, payment in a form permissible under
Section 5 for the full amount of the Purchase Price. In the event of a partial exercise of this option, Shares shall be deemed to have been purchased in the order in which they vest in accordance with the Notice of Stock Option Grant.

 (b) Issuance of Shares. After receiving a proper notice of exercise, the Company shall cause to be
issued one or more certificates evidencing the Shares for which this option has been exercised. Such Shares shall be registered (i) in the name of the person exercising this option or (ii) in the names of such person and his or her spouse
as community property or as joint tenants with the right of survivorship (to the extent permitted under applicable law) or (iii) with the Company’s consent, in the name of a revocable trust (to the extent permitted under applicable law).
In the case of Restricted Shares, the Company shall cause such certificates to be deposited in escrow under Section 7(c). In the case of other Shares, the Company shall cause such certificates to be delivered to or upon the order of the person
exercising this option. 
 (c) Withholding Taxes. 

(i) Regardless of any action that the Company or the Optionee’s employer (if other than the Company)
or a Parent or Subsidiary to which the Optionee provides Service if he or she is a Consultant (collectively, the “Employer”) takes with respect to any or all income tax, social insurance, payroll tax, payment on account, or other
tax-related items related to the Optionee’s participation in the Plan and legally applicable to him or her (the “Tax-Related Items”), the Optionee acknowledges that the ultimate liability for all Tax-Related Items is and
remains the Optionee’s responsibility and may exceed the amount actually withheld by the Company or the Employer. The Optionee further acknowledges that the Company and/or the Employer (A) make no representations or undertakings regarding
the treatment of any Tax-Related Items in connection with any aspect of this option, including, without limitation, the grant, vesting, or exercise of this option, the issuance of Shares upon exercise of

  
 2 

 
this option, the subsequent sale of Shares acquired pursuant to such issuance and the receipt of any dividends; and (B) do not commit to and are under no obligation to structure the terms of
the grant or any aspect of this option to reduce or eliminate the Optionee’s liability for Tax-Related Items or to achieve any particular tax result. Furthermore, if the Optionee has become subject to tax in more than one jurisdiction between
the Date of Grant and the date of any relevant taxable or tax withholding event, as applicable, the Optionee acknowledges that the Company and/or the Employer may be required to withhold or account for Tax-Related Items in more than one
jurisdiction. 
 (ii) Prior to any relevant taxable or tax withholding event, as applicable, the
Optionee will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Optionee authorizes the Company and/or the Employer, or their respective agents, at their
discretion, to satisfy the obligations with regard to all Tax-Related Items by one or a combination of the following: 
 (A) withholding from the Optionee’s wages or other cash compensation paid to the Optionee by the Company and/or the Employer; or 

(B) withholding from the proceeds of the sale of Shares acquired upon exercise, either through a
voluntary sale or through a mandatory sale arranged by the Company (on behalf of the Optionee pursuant to this authorization); or 
 (C) withholding in Shares to be issued upon exercise of this option. 
 (iii) To avoid negative accounting treatment, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding amounts or other applicable withholding
rates. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Optionee is deemed, for tax purposes, to have been issued the full number of Shares, notwithstanding that some Shares are held back solely for the purpose of
paying the Tax-Related Items due as a result of any aspect of the Optionee’s participation in the Plan. 
 (iv) Finally, the Optionee shall pay to the Company or the Employer any amount of Tax-Related Items that the Company or the Employer may be required to withhold or account for as a result of the
Optionee’s participation in the Plan, which amount cannot be satisfied by the means previously described. The Company may refuse to issue or deliver Shares or the proceeds of the sale of Shares if the Optionee fails to comply with his or her
obligations in connection with the Tax-Related Items. 

  
 3 

 SECTION 5. PAYMENT FOR STOCK. 

(a) Cash. All or part of the Purchase Price may be paid in cash or cash equivalents. 

(b) Surrender of Stock. At the discretion of the Board of Directors, all or any part of the Purchase Price may be
paid by surrendering, or attesting to the ownership of, Shares that are already owned by the Optionee. Such Shares shall be surrendered to the Company in good form for transfer and shall be valued at their Fair Market Value as of the date when this
option is exercised. 
 (c) Exercise/Sale. All or part of the Purchase Price and any Tax-Related Items
may be paid by the delivery (on a form prescribed by the Company) of an irrevocable direction to a securities broker approved by the Company to sell Shares and to deliver all or part of the sales proceeds to the Company. However, payment pursuant to
this Subsection (c) shall be permitted only if (i) Stock then is publicly traded and (ii) such payment does not violate applicable law. 
 SECTION 6. TERM AND EXPIRATION. 
 (a) Basic Term.
This option shall in any event expire on the expiration date set forth in the Notice of Stock Option Grant, which date is 10 years after the Date of Grant (five years after the Date of Grant if this option is designated as an ISO in the Notice of
Stock Option Grant and Section 3(b) of the Plan applies). 
 (b) Termination of Service (Except by
Death). If the Optionee’s Service terminates (as described further in Section 14(a)(xiv) of this Agreement) for any reason other than death, then this option shall expire on the earliest of the following occasions: 

(i) The expiration date determined pursuant to Subsection (a) above; 

(ii) The date three months after the termination of the Optionee’s Service for any reason other than
Disability or Misconduct; 
 (iii) The date of the termination of the Optionee’s Service for
Misconduct; or 
 (iv) The date six months after the termination of the Optionee’s Service
by reason of Disability. 
 The Optionee may exercise all or part of this option at any time before its
expiration under the preceding sentence, but only to the extent that this option is exercisable for Shares that vested on or before the date when the Optionee’s Service terminated and that such exercise is permitted under applicable law. When
the Optionee’s Service terminates (as described further in Section 14(a)(xiv) of this Agreement), this option shall expire immediately with respect to the number of Shares for which this option is not yet vested and with respect to any
Restricted Shares. In the event that the Optionee dies after termination of Service but before 

  
 4 

 
the expiration of this option, all or part of this option may be exercised (prior to expiration) by the executors or administrators of the Optionee’s estate or by any person who has acquired
this option directly from the Optionee by beneficiary designation (to the extent permitted under applicable law), bequest or inheritance, but only to the extent that this option was exercisable for vested Shares on or before the date when the
Optionee’s Service terminated. 
 (c) Death of the Optionee. If the Optionee dies while in Service,
then this option shall expire on the earlier of the following dates: 
 (i) The expiration date
determined pursuant to Subsection (a) above; or 
 (ii) The date 12 months after the
Optionee’s death. 
 All or part of this option may be exercised at any time before its expiration under
the preceding sentence by the executors or administrators of the Optionee’s estate or by any person who has acquired this option directly from the Optionee by beneficiary designation (to the extent permitted under applicable law), bequest or
inheritance, but only to the extent that this option had become exercisable for vested Shares on or before the Optionee’s death. When the Optionee dies, this option shall expire immediately with respect to the number of Shares for which this
option is not yet exercisable and with respect to any Restricted Shares. 
 (d) Part-Time Employment and
Leaves of Absence. If the Optionee commences working on a part-time basis, then, to the extent permitted under applicable law, the Company may adjust the vesting schedule set forth in the Notice of Stock Option Grant in accordance with the
Company’s part-time work policy or the terms of an agreement between the Optionee and the Company pertaining to his or her part-time schedule. If the Optionee goes on a leave of absence, then, to the extent permitted under applicable law, the
Company may adjust the vesting schedule set forth in the Notice of Stock Option Grant in accordance with the Company’s leave of absence policy or the terms of such leave. Except as provided in the preceding sentence, Service shall be deemed to
continue for any purpose under this Agreement while the Optionee is on a bona fide leave of absence, if (i) such leave was approved by the Company in writing and (ii) continued crediting of Service for such purpose is expressly
required by the terms of such leave or by applicable law (as determined by the Company). Service shall be deemed to terminate when such leave ends, unless the Optionee immediately returns to active work. 

(e) Notice Concerning ISO Treatment. Even if this option is designated as an ISO in the Notice of Stock Option
Grant, it ceases to qualify for favorable tax treatment as an ISO to the extent that it is exercised: 
 (i) More than three months after the date when the Optionee ceases to be an Employee for any reason other than death or permanent and total disability (as defined in Section 22(e)(3) of the Code);

 (ii) More than 12 months after the date when the Optionee ceases to be an Employee by reason
of permanent and total disability (as defined in Section 22(e)(3) of the Code); or 

  
 5 

 (iii) More than three months after the date when the
Optionee has been on a leave of absence for 90 days, unless the Optionee’s reemployment rights following such leave were guaranteed by statute or by contract. 
 SECTION 7. RIGHT OF REPURCHASE. 
 (a) Scope of Repurchase
Right. Until they vest in accordance with the Notice of Stock Option Grant and Subsection (b) below, the Shares acquired under this Agreement shall be Restricted Shares and shall be subject to the Company’s Right of Repurchase. The
Company, however, may decline to exercise its Right of Repurchase or may exercise its Right of Repurchase only with respect to a portion of the Restricted Shares. The Company may exercise its Right of Repurchase only during the Repurchase Period
following the termination of the Optionee’s Service. The Right of Repurchase may be exercised automatically under Subsection (d) below. If the Right of Repurchase is exercised, the Company shall pay the Optionee for each Restricted Share
being repurchased an amount equal to the lower of (i) the Exercise Price of such Restricted Share or (ii) the Fair Market Value of such Restricted Share at the time the Right of Repurchase is exercised. 

(b) Lapse of Repurchase Right. The Right of Repurchase shall lapse with respect to the Restricted Shares in
accordance with the vesting schedule set forth in the Notice of Stock Option Grant. 
 (c) Escrow. Upon
issuance, the certificate(s) for Restricted Shares shall be deposited in escrow with the Company to be held in accordance with the provisions of this Agreement. Any additional or exchanged securities or other property described in
Subsection (f) below shall immediately be delivered to the Company to be held in escrow. All ordinary cash dividends on Restricted Shares (or on other securities held in escrow) shall be paid directly to the Optionee and shall not be held in
escrow. Restricted Shares, together with any other assets held in escrow under this Agreement, shall be (i) surrendered to the Company for repurchase upon exercise of the Right of Repurchase or the Right of First Refusal or (ii) released
to the Optionee upon his or her request to the extent that the Shares have ceased to be Restricted Shares (but not more frequently than once every six months). In any event, all Shares that have ceased to be Restricted Shares, together with any
other vested assets held in escrow under this Agreement, shall be released within 90 days after the earlier of (i) the termination of the Optionee’s Service or (ii) the lapse of the Right of First Refusal. 

(d) Exercise of Repurchase Right. The Company shall be deemed to have exercised its Right of Repurchase
automatically for all Restricted Shares as of the commencement of the Repurchase Period, unless the Company during the Repurchase Period notifies the holder of the Restricted Shares pursuant to Section 13(b) that it will not exercise its Right
of Repurchase for some or all of the Restricted Shares. During the Repurchase Period, the Company shall pay to the holder of the Restricted Shares the purchase price determined under Subsection (a) above for the Restricted Shares being
repurchased. Payment shall be made in cash or cash equivalents and/or by canceling indebtedness to the Company incurred by the Optionee in the purchase of the Restricted Shares. The certificate(s) representing the Restricted Shares being repurchased
shall be delivered to the Company. 

  
 6 

 (e) Termination of Rights as Stockholder. If the Right of Repurchase
is exercised in accordance with this Section 7 and the Company makes available the consideration for the Restricted Shares being repurchased, then the person from whom the Restricted Shares are repurchased shall no longer have any rights as a
holder of the Restricted Shares (other than the right to receive payment of such consideration). Such Restricted Shares shall be deemed to have been repurchased pursuant to this Section 7, whether or not the certificate(s) for such Restricted
Shares have been delivered to the Company or the consideration for such Restricted Shares has been accepted. 

(f) Additional or Exchanged Securities and Property. In the event of a merger or consolidation of the Company with
or into another entity, any other corporate reorganization, a stock split, the declaration of a stock dividend, the declaration of an extraordinary dividend payable in a form other than stock, a spin-off, an adjustment in conversion ratio, a
recapitalization or a similar transaction affecting the Company’s outstanding securities, any securities or other property (including cash or cash equivalents) that are by reason of such transaction exchanged for, or distributed with respect
to, any Restricted Shares shall immediately be subject to the Right of Repurchase. Appropriate adjustments to reflect the exchange or distribution of such securities or property shall be made to the number and/or class of the Restricted Shares.
Appropriate adjustments shall also be made to the price per share to be paid upon the exercise of the Right of Repurchase, provided that the aggregate purchase price payable for the Restricted Shares shall remain the same. In the event of a merger
or consolidation of the Company with or into another entity or any other corporate reorganization, the Right of Repurchase may be exercised by the Company’s successor. 

(g) Transfer of Restricted Shares. The Optionee shall not transfer, assign, encumber or otherwise dispose of any
Restricted Shares without the Company’s written consent, except as provided in the following sentence. The Optionee may transfer Restricted Shares to one or more members of the Optionee’s Immediate Family or to a trust established by the
Optionee for the benefit of the Optionee and/or one or more members of the Optionee’s Immediate Family, provided in either case that the Transferee agrees in writing on a form prescribed by the Company to be bound by all provisions of this
Agreement. If the Optionee transfers any Restricted Shares, then this Agreement shall apply to the Transferee to the same extent as to the Optionee. 
 (h) Assignment of Repurchase Right. The Board of Directors may freely assign the Company’s Right of Repurchase, in whole or in part. Any person who accepts an assignment of the Right of
Repurchase from the Company shall assume all of the Company’s rights and obligations under this Section 7. 
 SECTION 8. RIGHT OF
FIRST REFUSAL. 
 (a) Right of First Refusal. In the event that the Optionee proposes to sell, pledge
or otherwise transfer to a third party any Shares acquired under this Agreement, or any interest in such Shares, the Company shall have the Right of First Refusal with respect to all (and not less than all) of such Shares. If the Optionee desires to
transfer Shares acquired under this Agreement, the Optionee shall give a written Transfer Notice to the Company describing fully the proposed transfer, including the number of Shares proposed to be transferred, the proposed

  
 7 

 
transfer price, the name and address of the proposed Transferee and proof satisfactory to the Company that the proposed sale or transfer will not violate any applicable U.S. federal or state or
foreign securities laws. The Transfer Notice shall be signed both by the Optionee and by the proposed Transferee and must constitute a binding commitment of both parties to the transfer of the Shares. The Company shall have the right to purchase
all, and not less than all, of the Shares on the terms of the proposal described in the Transfer Notice (subject, however, to any change in such terms permitted under Subsection (b) below) by delivery of a notice of exercise of the Right of
First Refusal within 30 days after the date when the Transfer Notice was received by the Company. 
 (b)
Transfer of Shares. If the Company fails to exercise its Right of First Refusal within 30 days after the date when it received the Transfer Notice, the Optionee may, not later than 90 days following receipt of the Transfer Notice by
the Company, conclude a transfer of the Shares subject to the Transfer Notice on the terms and conditions described in the Transfer Notice, provided that any such sale is made in compliance with applicable U.S. federal and state and foreign
securities laws and not in violation of any other contractual restrictions to which the Optionee is bound. Any proposed transfer on terms and conditions different from those described in the Transfer Notice, as well as any subsequent proposed
transfer by the Optionee, shall again be subject to the Right of First Refusal and shall require compliance with the procedure described in Subsection (a) above. If the Company exercises its Right of First Refusal, the parties shall consummate
the sale of the Shares on the terms set forth in the Transfer Notice within 60 days after the date when the Company received the Transfer Notice (or within such longer period as may have been specified in the Transfer Notice); provided,
however, that in the event the Transfer Notice provided that payment for the Shares was to be made in a form other than cash or cash equivalents paid at the time of transfer, the Company shall have the option of paying for the Shares with cash or
cash equivalents equal to the present value of the consideration described in the Transfer Notice. 
 (c)
Additional or Exchanged Securities and Property. In the event of a merger or consolidation of the Company with or into another entity, any other corporate reorganization, a stock split, the declaration of a stock dividend, the declaration of
an extraordinary dividend payable in a form other than stock, a spin-off, an adjustment in conversion ratio, a recapitalization or a similar transaction affecting the Company’s outstanding securities, any securities or other property (including
cash or cash equivalents) that are by reason of such transaction exchanged for, or distributed with respect to, any Shares subject to this Section 8 shall immediately be subject to the Right of First Refusal. Appropriate adjustments to reflect
the exchange or distribution of such securities or property shall be made to the number and/or class of the Shares subject to this Section 8. 
 (d) Termination of Right of First Refusal. Any other provision of this Section 8 notwithstanding, in the event that the Stock is readily tradable on an established securities market when the
Optionee desires to transfer Shares, the Company shall have no Right of First Refusal, and the Optionee shall have no obligation to comply with the procedures prescribed by Subsections (a) and (b) above. 

(e) Permitted Transfers. This Section 8 shall not apply to (i) a transfer by beneficiary designation,
will or intestate succession or (ii) a transfer to one or more members of 

  
 8 

 
the Optionee’s Immediate Family or to a trust established by the Optionee for the benefit of the Optionee and/or one or more members of the Optionee’s Immediate Family, provided in
either case that the Transferee agrees in writing on a form prescribed by the Company to be bound by all provisions of this Agreement and that such transfer is permitted under applicable law. If the Optionee transfers any Shares acquired under this
Agreement, either under this Subsection (e) or after the Company has failed to exercise the Right of First Refusal, then this Agreement shall apply to the Transferee to the same extent as to the Optionee. 

(f) Termination of Rights as Stockholder. If the Company makes available, at the time and place and in the amount
and form provided in this Agreement, the consideration for the Shares to be purchased in accordance with this Section 8, then after such time the person from whom such Shares are to be purchased shall no longer have any rights as a holder of
such Shares (other than the right to receive payment of such consideration in accordance with this Agreement). Such Shares shall be deemed to have been purchased in accordance with the applicable provisions hereof, whether or not the certificate(s)
therefor have been delivered as required by this Agreement. 
 (g) Assignment of Right of First Refusal.
The Board of Directors may freely assign the Company’s Right of First Refusal, in whole or in part. Any person who accepts an assignment of the Right of First Refusal from the Company shall assume all of the Company’s rights and
obligations under this Section 8. 
 SECTION 9. LEGALITY OF INITIAL ISSUANCE. 

In addition to certain restrictions set forth in Section 11 below, no Shares shall be issued upon the exercise of
this option unless and until the Company has determined that: 
 (a) It and the Optionee have
taken any actions required to register the Shares under the Securities Act or to perfect an exemption from the registration requirements thereof; 

(b) Any applicable listing requirement of any stock exchange or other securities market on which Stock is
listed has been satisfied; and 
 (c) Any other applicable provision of U.S. federal or state or
foreign law has been satisfied. 
 SECTION 10. NO REGISTRATION RIGHTS. 

The Company may, but shall not be obligated to, register or qualify the sale of Shares under the Securities Act or any
other applicable law. The Company shall not be obligated to take any affirmative action in order to cause the sale of Shares under this Agreement to comply with any law. 
 SECTION 11. RESTRICTIONS ON TRANSFER OF SHARES. 
 (a)
Securities Law Restrictions. Regardless of whether the offering and sale of Shares under the Plan have been registered under the Securities Act or have been registered or 

  
 9 

 
qualified under the securities laws of any state or other relevant jurisdiction, the Company at its discretion may impose restrictions upon the sale, pledge or other transfer of such Shares
(including the placement of appropriate legends on stock certificates or the imposition of stop-transfer instructions) if, in the judgment of the Company, such restrictions are necessary or desirable in order to achieve compliance with the
Securities Act, the securities laws of any state or other relevant jurisdiction, or any other law. The Company will refuse to transfer the Shares upon exercise thereof, or upon subsequent transfer, if the exercise or other transfer is not in
compliance with applicable securities laws, including Regulation S of the Securities Act, pursuant to registration under the Securities Act or pursuant to an available exemption from registration. The Company may require the Optionee or a Transferee
of the Shares issued on exercise of the option to deliver an opinion of counsel confirming that the issuance or transfer of the Shares are exempt from registration under the Securities Act. 

(b) Market Stand-Off. In connection with any underwritten public offering by the Company of its equity securities
pursuant to an effective registration statement filed under the Securities Act or the laws of any other jurisdiction, including the Company’s initial public offering, the Optionee or a Transferee shall not directly or indirectly sell, make any
short sale of, loan, hypothecate, pledge, offer, grant or sell any option or other contract for the purchase of, purchase any option or other contract for the sale of, or otherwise dispose of or transfer, or agree to engage in any of the foregoing
transactions with respect to, any Shares acquired under this Agreement without the prior written consent of the Company or its managing underwriter. Such restriction (the “Market Stand-Off”) shall be in effect for such period of time
following the date of the final prospectus for the offering as may be requested by the Company or such underwriter. In no event, however, shall such period exceed 180 days plus such additional period as may reasonably be requested by the Company or
such underwriter to accommodate regulatory restrictions on (i) the publication or other distribution of research reports or (ii) analyst recommendations and opinions, including (without limitation) the restrictions set forth in
Rule 2711(f)(4) of the National Association of Securities Dealers and Rule 472(f)(4) of the New York Stock Exchange, as amended, or any similar successor rules. The Market Stand-Off shall in any event terminate two years after the date of
the Company’s initial public offering. In the event of the declaration of a stock dividend, a spin-off, a stock split, an adjustment in conversion ratio, a recapitalization or a similar transaction affecting the Company’s outstanding
securities without receipt of consideration, any new, substituted or additional securities which are by reason of such transaction distributed with respect to any Shares subject to the Market Stand-Off, or into which such Shares thereby become
convertible, shall immediately be subject to the Market Stand-Off. In order to enforce the Market Stand-Off, the Company may impose stop-transfer instructions with respect to the Shares acquired under this Agreement until the end of the applicable
stand-off period. The Company’s underwriters shall be beneficiaries of the agreement set forth in this Subsection (b). This Subsection (b) shall not apply to Shares registered in the public offering under the Securities Act.

 (c) Investment Intent at Grant. The Optionee represents and agrees that the Shares to be acquired upon
exercising this option will be acquired for investment, and not with a view to the sale or distribution thereof. 
 (d) Investment Intent at Exercise. In the event that the sale of Shares under the Plan is not registered under the Securities Act but an exemption is available that requires an

  
 10 

 
investment representation or other representation, the Optionee shall represent and agree at the time of exercise that the Shares being acquired upon exercising this option are being acquired for
investment, and not with a view to the sale or distribution thereof, and shall make such other representations as are deemed necessary or appropriate by the Company and its counsel. 

(e) Legends. All certificates evidencing Shares purchased or subscribed for under this Agreement shall bear the
following legend: 
 “THE SHARES REPRESENTED HEREBY MAY NOT BE SOLD, ASSIGNED, TRANSFERRED, ENCUMBERED OR IN
ANY MANNER DISPOSED OF, EXCEPT IN COMPLIANCE WITH THE TERMS OF A WRITTEN AGREEMENT BETWEEN THE COMPANY AND THE REGISTERED HOLDER OF THE SHARES (OR THE PREDECESSOR IN INTEREST TO THE SHARES). SUCH AGREEMENT GRANTS TO THE COMPANY CERTAIN RIGHTS OF
FIRST REFUSAL UPON AN ATTEMPTED TRANSFER OF THE SHARES AND CERTAIN REPURCHASE RIGHTS UPON TERMINATION OF SERVICE WITH THE COMPANY. THE SECRETARY OF THE COMPANY WILL UPON WRITTEN REQUEST FURNISH A COPY OF SUCH AGREEMENT TO THE HOLDER HEREOF WITHOUT
CHARGE.” 
 All certificates evidencing Shares purchased or subscribed for under this Agreement in an unregistered
transaction shall bear the following legend (and such other restrictive legends as are required or deemed advisable under the provisions of any applicable law): 
 “THE SHARES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, PLEDGED, OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION THEREOF
UNDER SUCH ACT OR AN OPINION OF COUNSEL, SATISFACTORY TO THE COMPANY AND ITS COUNSEL, THAT SUCH REGISTRATION IS NOT REQUIRED.” 
 (f) Removal of Legends. If, in the opinion of the Company and its counsel, any legend placed on a stock certificate representing Shares sold under this Agreement is no longer required, the holder
of such certificate shall be entitled to exchange such certificate for a certificate representing the same number of Shares but without such legend. 
 (g) Administration. Any determination by the Company and its counsel in connection with any of the matters set forth in this Section 11 shall be conclusive and binding on the Optionee and all
other persons. 
 SECTION 12. ADJUSTMENT OF SHARES. 

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

  
 11 

 SECTION 13. MISCELLANEOUS PROVISIONS. 

(a) Rights as a Stockholder. Neither the Optionee nor the Optionee’s representative shall have any rights as a
stockholder with respect to any Shares subject to this option until the Optionee or the Optionee’s representative becomes entitled to receive such Shares by filing a notice of exercise and paying the Purchase Price pursuant to Sections 4
and 5. 
 (b) Notice. Any notice required by the terms of this Agreement shall be given in writing. It
shall be deemed effective upon (i) personal delivery, (ii) deposit with the United States Postal Service, by registered or certified mail, with postage and fees prepaid or (iii) deposit with Federal Express Corporation (or other
overnight courier service approved by the Company), with shipping charges prepaid. Notice shall be addressed to the Company at its principal executive office and to the Optionee at the address that he or she most recently provided to the Company in
accordance with this Subsection (b). 
 (c) Entire Agreement. The Notice of Stock Option Grant, this
Agreement and the Plan constitute the entire contract between the parties hereto with regard to the subject matter hereof. They supersede any other agreements, representations or understandings (whether oral or written and whether express or
implied) that relate to the subject matter hereof. 
 (d) Choice of Law; Venue. This Agreement shall be
governed by, and construed in accordance with, the laws of the State of Delaware, as such laws are applied to contracts entered into and performed in such state without regard to such state’s conflict of law provisions. For purposes of
litigating any dispute that arises directly or indirectly from the relationship of the parties as evidenced by this Agreement and/or the Plan, the parties hereby submit to and consent to the exclusive jurisdiction of the State of California and
agree that such litigation shall be conducted only in the courts of the County of San Mateo, California, or the United States federal courts for the Northern District of California, and no other courts, where this option grant is made and/or to be
performed. 
 (e) Authorization to Disclose. The Optionee hereby authorizes and directs the Employer to
disclose to the Company or any Parent or Subsidiary such information regarding the Optionee’s Service, the nature and amount of Optionee’s compensation and the fact and conditions of Optionee’s participation in the Plan as the
Employer deems necessary or appropriate to facilitate the administration of the Plan. 
 (f)
Severability. The provisions of this Agreement are severable and if any one or more provisions are determined to be illegal or otherwise unenforceable, in whole or in part, the remaining provisions nevertheless shall be binding and
enforceable. 
 (g) Imposition of Other Requirements. The Company reserves the right to impose other
requirements on the Optionee’s participation in the Plan, on this option and on any Shares acquired under the Plan, to the extent that the Company determines that it is necessary or advisable in order to comply with applicable law or facilitate
the administration of the Plan, and to require the Optionee to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing. 

  
 12 

 SECTION 14. ACKNOWLEDGEMENTS OF THE OPTIONEE. 

(a) Nature of Grant. In accepting this option, the Optionee acknowledges, understands, and agrees that: 

(i) the Plan is established voluntarily by the Company, is discretionary in nature and may be modified,
amended, suspended, or terminated by the Company at any time; 
 (ii) the grant of this option is
voluntary and occasional and does not create any contractual or other right to receive future option grants, or benefits in lieu of option grants, even if such grants have been made repeatedly in the past; 

(iii) all decisions with respect to future option grants, if any, will be at the sole discretion of the
Company; 
 (iv) the Optionee’s participation in the Plan shall not create a right to
perform future Services for the Employer and shall not interfere with the Employer’s ability to terminate the Optionee’s Service at any time; 

(v) the Optionee’s participation in the Plan is voluntary; 

(vi) this option and the Shares subject to this option are an extraordinary item that does not constitute
compensation of any kind for Services of any kind rendered to the Company or the Employer, and which is outside the scope of the Optionee’s employment or other contract for Services, if any; 

(vii) this option and the Shares subject to this option are not intended to replace any pension rights or
compensation; 
 (viii) this option and the Shares subject to this option are not part of normal
or expected compensation or salary for any purposes, including, without limitation, calculating any severance, resignation, termination, redundancy, dismissal, end-of-service payments, bonuses, long-service awards, pension or retirement or welfare
benefits or similar payments and in no event should be considered as compensation for, or relating in any way to, past Services to the Company, the Employer, or any Parent or Subsidiary; 

(ix) this option grant and the Optionee’s participation in the Plan shall not be interpreted to form
an employment contract or relationship with the Company or any Parent or Subsidiary; 
 (x) the
future value of the Shares subject to this option is unknown and cannot be predicted with certainty; 
 (xi) if the Shares subject to this option do not increase in value, this option will have no value; 

  
 13 

 (xii) if the Optionee exercises this option and obtains
Shares, the value of the Shares acquired upon exercise may increase or decrease in value, even below the Exercise Price per Share; 
 (xiii) no claim or entitlement to compensation or damages shall arise from forfeiture of any portion of this option resulting from termination of the Optionee’s Service by the Company or the Employer
(for any reason whatsoever and regardless of whether in breach of applicable labor laws); and, in consideration of the grant of this option, to which the Optionee is not otherwise entitled, the Optionee irrevocably agrees never to institute any
claim against the Company or the Employer, waives his or her ability, if any, to bring any such claim, and releases the Company and the Employer from any such claim; if, notwithstanding the foregoing, any such claim is allowed by a court of
competent jurisdiction, then, by participating in the Plan, the Optionee shall be deemed irrevocably to have agreed not to pursue such claim and agrees to execute any and all documents necessary to request dismissal or withdrawal of such claims;

 (xiv) in the event of termination of the Optionee’s Service (regardless of whether in
breach of applicable labor laws), the Optionee’s right to vest in this option, if any, will terminate effective as of the date of termination of the Optionee’s active Service and will not be extended by any notice period mandated under
applicable law; further, in the event of termination of the Optionee’s Service (regardless of whether in breach of applicable labor laws), the Optionee’s right to exercise this option, if any, will be measured as of the date of termination
of the Optionee’s active Service and will not be extended by any notice period mandated under applicable law; the Board of Directors shall have the exclusive discretion to determine when the Optionee’s active Service is terminated for
purposes of this option; and 
 (xv) this option and the benefits under the Plan, if any, will
not transfer automatically to another company in the case of a merger, takeover, or transfer of liability. 

(b) No Advice Regarding Grant. The Company is not providing any tax, legal, or financial advice, nor is the
Company making any recommendations regarding the Optionee’s participation in the Plan, or his or her acquisition or sale of the Shares subject to this option. The Optionee is solely responsible for taking all appropriate legal advice, notably
concerning U.S. and local country tax and social security regulations, when signing this Agreement, and when thereafter exercising the option, or sale of the Shares acquired under this Agreement or more generally when taking any decision in relation
with this option, this Agreement or otherwise under the Plan. The Company does not represent or guaranty that the Optionee may benefit from specific provisions under said regulations and the Optionee shall on his or her own efforts receive proper
information in this respect. The Optionee is hereby advised to consult with his or her personal tax, legal, and financial advisors regarding his or her participation in the Plan before taking any action related to the Plan. 

  
 14 

 (c) Tax Consequences. The Optionee agrees that the Company does not
have a duty to design or administer the Plan or its other compensation programs in a manner that minimizes the Optionee’s liability for Tax-Related Items. The Optionee shall not make any claim against the Company or its Board of Directors,
officers or employees related to Tax-Related Items arising from this option or the Optionee’s other compensation. In particular, the Optionee acknowledges that this option is exempt from Section 409A of the Code only if the Exercise Price
is at least equal to the Fair Market Value per Share on the Date of Grant. Since Shares are not traded on an established securities market as of the Date of Grant of this option, the determination of their Fair Market Value is made by the Board of
Directors or by an independent valuation firm retained by the Company. The Optionee acknowledges that there is no guarantee in either case that the U.S. Internal Revenue Service will agree with the valuation, and the Optionee shall not make any
claim against the Company or its Board of Directors, officers or employees in the event that the U.S. Internal Revenue Service asserts that the valuation was too low. 

(d) Electronic Delivery of Documents. The Optionee agrees that the Company may decide, in its sole discretion, to
deliver by email or other electronic means any documents relating to the Plan or this option (including, without limitation, a copy of the Plan) and all other documents that the Company is required to deliver to its security holders (including,
without limitation, disclosures that may be required by the U.S. Securities and Exchange Commission). The Optionee also agrees that the Company may deliver these documents by posting them on a website maintained by the Company or by a third party
under contract with the Company. If the Company posts these documents on a website, it shall notify the Optionee by email. 
 SECTION 15.
DEFINITIONS. 
 (a) “Agreement” shall mean this Stock Option Agreement. 

(b) “Board of Directors” shall mean the Board of Directors of the Company, as constituted from time to
time or, if a Committee has been appointed, such Committee. 
 (c) “Code” shall mean the U.S.
Internal Revenue Code of 1986, as amended. 
 (d) “Committee” shall mean a committee of the
Board of Directors, as described in Section 2 of the Plan. 
 (e) “Company” shall mean
Guidewire Software, Inc., a Delaware corporation. 
 (f) “Consultant” shall mean a person who
performs bona fide services for the Company, a Parent or a Subsidiary as a consultant or advisor, excluding Employees and Outside Directors. 
 (g) “Date of Grant” shall mean the date of grant specified in the Notice of Stock Option Grant, which date shall be the later of (i) the date on which the Board of Directors resolved
to grant this option or (ii) the first day of the Optionee’s Service. 

  
 15 

 (h) “Disability” shall mean that the Optionee is unable to
engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment. 
 (i) “Employee” shall mean any individual who is an active employee of the Company, a Parent or a Subsidiary. 

(j) “Exercise Price” shall mean the amount for which one Share may be purchased or subscribed for upon
exercise of this option, as specified in the Notice of Stock Option Grant. 
 (k) “Fair Market
Value” shall mean the fair market value of a Share, as determined by the Board of Directors in good faith. Such determination shall be conclusive and binding on all persons. 

(l) “Immediate Family” shall mean any child, stepchild, grandchild, parent, stepparent, grandparent,
spouse, sibling, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law or sister-in-law and shall include adoptive relationships. 
 (m) “ISO” shall mean an employee incentive stock option described in Section 422(b) of the Code. 

(n) “Misconduct” shall mean the commission of any act of fraud, embezzlement or dishonesty by Optionee,
any unauthorized use or disclosure by Optionee of confidential information or trade secrets of the Company (or any Parent or Subsidiary), or any other intentional misconduct by Optionee adversely affecting the business or affairs of the Company (or
any Parent or Subsidiary) in a material manner. The foregoing definition shall not in any way preclude or restrict the right of the Company (or any Parent or Subsidiary) to discharge or dismiss Optionee or any other person in the Service of the
Company (or any Parent or Subsidiary) for any other acts or omissions, but such other acts or omissions shall not be deemed, for purposes of the Plan or this Agreement, to constitute grounds for termination for Misconduct. 

(o) “Notice of Stock Option Grant” shall mean the document so entitled to which this Agreement is
attached. 
 (p) “NSO” shall mean a stock option not described in Sections 422(b)
or 423(b) of the Code. 
 (q) “Optionee” shall mean the person named in the Notice of
Stock Option Grant. 
 (r) “Outside Director” shall mean a member of the Board of Directors who
is not an Employee. 
 (s) “Parent” shall mean any corporation (other than the Company) in an
unbroken chain of corporations ending with the Company, if each of the corporations other than 

  
 16 

 
the Company owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain. 

(t) “Plan” shall mean the Guidewire Software, Inc. 2006 Stock Plan, as in effect on the Date of Grant.

 (u) “Purchase Price” shall mean the Exercise Price multiplied by the number of Shares with
respect to which this option is being exercised. 
 (v) “Repurchase Period” shall mean a period
of 90 consecutive days commencing on the date when the Optionee’s Service terminates for any reason, including (without limitation) death or disability. 
 (w) “Restricted Share” shall mean a Share that is subject to the Right of Repurchase. 
 (x) “Right of First Refusal” shall mean the Company’s right of first refusal described in Section 8. 

(y) “Right of Repurchase” shall mean the Company’s right of repurchase described in Section 7.

 (z) “Securities Act” shall mean the U.S. Securities Act of 1933, as amended. 

(aa) “Service” shall mean service as an Employee, Outside Director or Consultant. 

(bb) “Share” shall mean one share of Stock, as adjusted in accordance with Section 8 of the Plan
(if applicable). 
 (cc) “Stock” shall mean the Common Stock of the Company. 

(dd) “Subsidiary” shall mean any corporation (other than the Company) in an unbroken chain of
corporations beginning with the Company, if each of the corporations other than the last corporation in the unbroken chain owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations
in such chain. 
 (ee) “Transferee” shall mean any person to whom the Optionee has directly or
indirectly transferred any Share acquired under this Agreement. 
 (ff) “Transfer Notice” shall
mean the notice of a proposed transfer of Shares described in Section 8. 

  
 17 

 GUIDEWIRE SOFTWARE, INC. 2006
STOCK PLAN 
 NOTICE OF STOCK
OPTION GRANT 
 (INTERNATIONAL) 

The Optionee has been granted the following option to purchase shares of the Common Stock of Guidewire Software, Inc.: 

 

			
	 Name of Optionee:
	  	 «Name»

		
	 Total Number of Shares:
	  	 «TotalShares»

		
	 Type of Option:
	  	 Nonstatutory Stock Option (NSO)

		
	 Exercise Price per Share:
	  	 $«PricePerShare»

		
	 Date of Grant:
	  	 «DateGrant»

		
	 Date Vested and Exercisable:
	  	 Except as otherwise provided in the Stock Option Agreement, including any appendix thereto, this option may be exercised with respect to the first
«Percent»% of the Shares subject to this option when the Optionee completes «CliffPeriod» months of continuous Service after the Vesting Commencement Date set forth below. This option may be exercised with respect to an
additional «Fraction»% of the Shares subject to this option when the Optionee completes each month of continuous Service thereafter.

		
	 Vesting Commencement Date:
	  	 «VestComDate»

		
	 Expiration Date:
	  	 «ExpDate». The day immediately prior to the Expiration Date is the last date on which this option may be exercised, unless this option expires
earlier than the Expiration Date because the Optionee’s Service terminates earlier, as provided in Section 6 of the Stock Option Agreement.

 By signing below, the Optionee and the Company agree that this option is granted under, and governed by
the terms and conditions of, the 2006 Stock Plan and the Stock Option Agreement, including any special terms and conditions for the Optionee’s country contained in an appendix (the “Appendix”) to the Stock Option Agreement. The 2006
Stock Plan and the Stock Option Agreement, including the Appendix, are attached to, and made a part of, this Notice of Stock Option Grant. Section 13 of the Stock Option Agreement includes important acknowledgements of the Optionee, which
are accepted and confirmed by the Optionee’s signature below. 
  

							
	OPTIONEE:	 		 	GUIDEWIRE SOFTWARE, INC.
				
	  
	 		 	 By:
	  	  

				
		 		 	 Title:
	  	  

 THE OPTION GRANTED PURSUANT TO THIS AGREEMENT AND THE SHARES ISSUABLE UPON THE EXERCISE
THEREOF HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, PLEDGED, OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION THEREOF UNDER SUCH ACT OR AN OPINION OF COUNSEL, SATISFACTORY TO THE COMPANY
AND ITS COUNSEL, THAT SUCH REGISTRATION IS NOT REQUIRED. 
 GUIDEWIRE SOFTWARE,
INC. 2006 STOCK PLAN: 
 STOCK OPTION
AGREEMENT 
 (INTERNATIONAL) 
 SECTION 1. GRANT OF OPTION. 
 (a) Option. On the
terms and conditions set forth in the Notice of Stock Option Grant and this Agreement, including the Appendix, the Company grants to the Optionee on the Date of Grant the option to purchase at the Exercise Price the number of Shares set forth in the
Notice of Stock Option Grant. The Exercise Price is agreed to be at least 100% of the Fair Market Value per Share on the Date of Grant. This option is intended to be an NSO, as provided in the Notice of Stock Option Grant. 

(b) Stock Plan and Defined Terms. This option is granted pursuant to the Plan, a copy of which the Optionee
acknowledges having received. The provisions of the Plan are incorporated into this Agreement by this reference. Capitalized terms are defined in Section 14 of this Agreement. 
 SECTION 2. RIGHT TO EXERCISE. 
 (a) Exercisability.
Subject to Subsection (b) below and the other conditions set forth in this Agreement, including the Appendix, all or part of this option may be exercised prior to its expiration at the time or times set forth in the Notice of Stock Option
Grant. In addition, this option shall become vested and exercisable in full if Section 8(b)(iv) of the Plan applies. 
 (b) Stockholder Approval. Any other provision of this Agreement notwithstanding, no portion of this option shall be exercisable at any time prior to the approval of the Plan by the Company’s
stockholders. 
 SECTION 3. NO TRANSFER OR ASSIGNMENT OF OPTION. 

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

  
 1 

 SECTION 4. EXERCISE PROCEDURES. 

(a) Notice of Exercise. The Optionee or the Optionee’s representative may exercise this option by giving
written notice to the Company pursuant to Section 12(b). The notice shall specify the election to exercise this option, the number of Shares for which it is being exercised and the form of payment. The person exercising this option shall sign
the notice. In the event that this option is being exercised by the representative of the Optionee, the notice shall be accompanied by proof (satisfactory to the Company) of the representative’s right to exercise this option. The Optionee or
the Optionee’s representative shall deliver to the Company, at the time of giving the notice, payment in a form permissible under Section 5 for the full amount of the Purchase Price. In the event of a partial exercise of this option,
Shares shall be deemed to have been purchased in the order in which they vest in accordance with the Notice of Stock Option Grant. 
 (b) Issuance of Shares. After receiving a proper notice of exercise, the Company shall cause to be issued one or more certificates evidencing the Shares for which this option has been exercised.
Such Shares shall be registered (i) in the name of the person exercising this option or (ii) in the names of such person and his or her spouse as community property or as joint tenants with the right of survivorship (to the extent
permitted under applicable law) or (iii) with the Company’s consent, in the name of a revocable trust (to the extent permitted under applicable law). The Company shall cause such certificates to be delivered to or upon the order of the
person exercising this option. 
 (c) Withholding Taxes. 

(i) Regardless of any action that the Company or the Optionee’s employer or a Parent or Subsidiary to
which the Optionee provides Service if he or she is a Consultant (collectively, the “Employer”) takes with respect to any or all income tax, social insurance, payroll tax, payment on account, or other tax-related items related to
the Optionee’s participation in the Plan and legally applicable to him or her (the “Tax-Related Items”), the Optionee acknowledges that the ultimate liability for all Tax-Related Items is and remains the Optionee’s
responsibility and may exceed the amount actually withheld by the Company or the Employer. The Optionee further acknowledges that the Company and/or the Employer (A) make no representations or undertakings regarding the treatment of any
Tax-Related Items in connection with any aspect of this option, including, without limitation, the grant, vesting, or exercise of this option, the issuance of Shares upon exercise of this option, the subsequent sale of Shares acquired pursuant to
such issuance and the receipt of any dividends; and (B) do not commit to and are under no obligation to structure the terms of the grant or any aspect of this option to reduce or eliminate the Optionee’s liability for Tax-Related Items or
to achieve any particular tax result. Furthermore, if the Optionee has become subject to tax in more than one jurisdiction between the Date of Grant and the date of any relevant taxable or tax withholding event, as applicable, the Optionee
acknowledges that the Company and/or the Employer may be required to withhold or account for Tax-Related Items in more than one jurisdiction. 

  
 2 

 (ii) Prior to any relevant taxable or tax withholding event,
as applicable, the Optionee will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Optionee authorizes the Company and/or the Employer, or their respective agents,
at their discretion, to satisfy the obligations with regard to all Tax-Related Items by one or a combination of the following: 
 (A) withholding from the Optionee’s wages or other cash compensation paid to the Optionee by the Company and/or the Employer; or 

(B) withholding from the proceeds of the sale of Shares acquired upon exercise, either through a
voluntary sale or through a mandatory sale arranged by the Company (on behalf of the Optionee pursuant to this authorization); or 
 (C) withholding in Shares to be issued upon exercise of this option. 
 (iii) To avoid negative accounting treatment, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding amounts or other applicable withholding
rates. If the obligation for Tax-Related Items is satisfied by withholding in Shares, the Optionee is deemed, for tax purposes, to have been issued the full number of Shares, notwithstanding that some Shares are held back solely for the purpose of
paying the Tax-Related Items due as a result of any aspect of the Optionee’s participation in the Plan. 
 (iv) Finally, the Optionee shall pay to the Company or the Employer any amount of Tax-Related Items that the Company or the Employer may be required to withhold or account for as a result of the
Optionee’s participation in the Plan, which amount cannot be satisfied by the means previously described. The Company may refuse to issue or deliver Shares or the proceeds of the sale of Shares if the Optionee fails to comply with his or her
obligations in connection with the Tax-Related Items. 
 SECTION 5. PAYMENT FOR STOCK. 

(a) Cash. All or part of the Purchase Price may be paid in cash or cash equivalents. 

(b) Exercise/Sale. All or part of the Purchase Price and any Tax-Related Items may be paid by the delivery (on a
form prescribed by the Company) of an irrevocable direction to a securities broker approved by the Company to sell Shares and to deliver all or part of the sales proceeds to the Company. However, payment pursuant to this Subsection (b) shall be
permitted only if (i) Stock then is publicly traded and (ii) such payment does not violate applicable law. 

  
 3 

 SECTION 6. TERM AND EXPIRATION. 

(a) Basic Term. This option shall in any event expire on the expiration date set forth in the Notice of Stock
Option Grant, which date is 10 years after the Date of Grant. 
 (b) Termination of Service (Except by
Death). If the Optionee’s Service terminates (as described further in Section 13(a)(xiv) of this Agreement) for any reason other than death, then this option shall expire on the earliest of the following occasions: 

(i) The expiration date determined pursuant to Subsection (a) above; 

(ii) The date three months after the termination of the Optionee’s Service for any reason other than
Disability or Misconduct; 
 (iii) The date of the termination of the Optionee’s Service for
Misconduct; or 
 (iv) The date six months after the termination of the Optionee’s Service
by reason of Disability. 
 The Optionee may exercise all or part of this option at any time before its
expiration under the preceding sentence, but only to the extent that this option is exercisable for Shares that vested on or before the date when the Optionee’s Service terminated and that such exercise is permitted under applicable law. When
the Optionee’s Service terminates (as described further in Section 13(a)(xiv) of this Agreement), this option shall expire immediately with respect to the number of Shares for which this option is not yet vested. In the event that the
Optionee dies after termination of Service but before the expiration of this option, all or part of this option may be exercised (prior to expiration) by the executors or administrators of the Optionee’s estate or by any person who has acquired
this option directly from the Optionee by beneficiary designation (to the extent permitted under applicable law), bequest or inheritance, but only to the extent that this option was exercisable for vested Shares on or before the date when the
Optionee’s Service terminated. 
 (c) Death of the Optionee. If the Optionee dies while in Service,
then this option shall expire on the earlier of the following dates: 
 (i) The expiration date
determined pursuant to Subsection (a) above; or 
 (ii) The date 12 months after the
Optionee’s death. 
 All or part of this option may be exercised at any time before its expiration under
the preceding sentence by the executors or administrators of the Optionee’s estate or by any person who has acquired this option directly from the Optionee by beneficiary designation (to the extent permitted under applicable law), bequest or
inheritance, but only to the extent that this option had become exercisable for vested Shares on or before the Optionee’s death. When the 

  
 4 

 
Optionee dies, this option shall expire immediately with respect to the number of Shares for which this option is not yet exercisable. 

(d) Part-Time Employment and Leaves of Absence. If the Optionee commences working on a part-time basis, then, to
the extent permitted under applicable law, the Company may adjust the vesting schedule set forth in the Notice of Stock Option Grant in accordance with the Company’s part-time work policy or the terms of an agreement between the Optionee and
the Company pertaining to his or her part-time schedule. If the Optionee goes on a leave of absence, then, to the extent permitted under applicable law, the Company may adjust the vesting schedule set forth in the Notice of Stock Option Grant in
accordance with the Company’s leave of absence policy or the terms of such leave. Except as provided in the preceding sentence, Service shall be deemed to continue for any purpose under this Agreement while the Optionee is on a bona fide
leave of absence, if (i) such leave was approved by the Company in writing and (ii) continued crediting of Service for such purpose is expressly required by the terms of such leave or by applicable law (as determined by the Company).
Service shall be deemed to terminate when such leave ends, unless the Optionee immediately returns to active work. 
 SECTION 7. RIGHT OF
FIRST REFUSAL. 
 (a) Right of First Refusal. In the event that the Optionee proposes to sell, pledge
or otherwise transfer to a third party any Shares acquired under this Agreement, or any interest in such Shares, the Company shall have the Right of First Refusal with respect to all (and not less than all) of such Shares. If the Optionee desires to
transfer Shares acquired under this Agreement, the Optionee shall give a written Transfer Notice to the Company describing fully the proposed transfer, including the number of Shares proposed to be transferred, the proposed transfer price, the name
and address of the proposed Transferee and proof satisfactory to the Company that the proposed sale or transfer will not violate any applicable U.S. federal or state or foreign securities laws. The Transfer Notice shall be signed both by the
Optionee and by the proposed Transferee and must constitute a binding commitment of both parties to the transfer of the Shares. The Company shall have the right to purchase all, and not less than all, of the Shares on the terms of the proposal
described in the Transfer Notice (subject, however, to any change in such terms permitted under Subsection (b) below) by delivery of a notice of exercise of the Right of First Refusal within 30 days after the date when the Transfer Notice was
received by the Company. 
 (b) Transfer of Shares. If the Company fails to exercise its Right of First
Refusal within 30 days after the date when it received the Transfer Notice, the Optionee may, not later than 90 days following receipt of the Transfer Notice by the Company, conclude a transfer of the Shares subject to the Transfer Notice
on the terms and conditions described in the Transfer Notice, provided that any such sale is made in compliance with applicable U.S. federal and state and foreign securities laws and not in violation of any other contractual restrictions to which
the Optionee is bound. Any proposed transfer on terms and conditions different from those described in the Transfer Notice, as well as any subsequent proposed transfer by the Optionee, shall again be subject to the Right of First Refusal and shall
require compliance with the procedure described in Subsection (a) above. If the Company exercises its Right of First Refusal, the parties shall consummate the sale of the Shares on the terms set forth in the Transfer Notice within 60 days
after the date when the Company received the Transfer Notice (or within 

  
 5 

 
such longer period as may have been specified in the Transfer Notice); provided, however, that in the event the Transfer Notice provided that payment for the Shares was to be made in a form other
than cash or cash equivalents paid at the time of transfer, the Company shall have the option of paying for the Shares with cash or cash equivalents equal to the present value of the consideration described in the Transfer Notice. 

(c) Additional or Exchanged Securities and Property. In the event of a merger or consolidation of the Company with
or into another entity, any other corporate reorganization, a stock split, the declaration of a stock dividend, the declaration of an extraordinary dividend payable in a form other than stock, a spin-off, an adjustment in conversion ratio, a
recapitalization or a similar transaction affecting the Company’s outstanding securities, any securities or other property (including cash or cash equivalents) that are by reason of such transaction exchanged for, or distributed with respect
to, any Shares subject to this Section 7 shall immediately be subject to the Right of First Refusal. Appropriate adjustments to reflect the exchange or distribution of such securities or property shall be made to the number and/or class of the
Shares subject to this Section 7. 
 (d) Termination of Right of First Refusal. Any other provision
of this Section 7 notwithstanding, in the event that the Stock is readily tradable on an established securities market when the Optionee desires to transfer Shares, the Company shall have no Right of First Refusal, and the Optionee shall have
no obligation to comply with the procedures prescribed by Subsections (a) and (b) above. 
 (e)
Permitted Transfers. This Section 7 shall not apply to (i) a transfer by beneficiary designation, will or intestate succession or (ii) a transfer to one or more members of the Optionee’s Immediate Family or to a trust
established by the Optionee for the benefit of the Optionee and/or one or more members of the Optionee’s Immediate Family, provided in either case that the Transferee agrees in writing on a form prescribed by the Company to be bound by all
provisions of this Agreement and that such transfer is permitted under applicable law. If the Optionee transfers any Shares acquired under this Agreement, either under this Subsection (e) or after the Company has failed to exercise the Right of
First Refusal, then this Agreement shall apply to the Transferee to the same extent as to the Optionee. 
 (f)
Termination of Rights as Stockholder. If the Company makes available, at the time and place and in the amount and form provided in this Agreement, the consideration for the Shares to be purchased in accordance with this Section 7, then
after such time the person from whom such Shares are to be purchased shall no longer have any rights as a holder of such Shares (other than the right to receive payment of such consideration in accordance with this Agreement). Such Shares shall be
deemed to have been purchased in accordance with the applicable provisions hereof, whether or not the certificate(s) therefor have been delivered as required by this Agreement. 

(g) Assignment of Right of First Refusal. The Board of Directors may freely assign the Company’s Right of
First Refusal, in whole or in part. Any person who accepts an assignment of the Right of First Refusal from the Company shall assume all of the Company’s rights and obligations under this Section 7. 

  
 6 

 SECTION 8. LEGALITY OF INITIAL ISSUANCE. 

In addition to certain restrictions set forth in Section 10 below, no Shares shall be issued upon the exercise of
this option unless and until the Company has determined that: 
 (a) It and the Optionee have
taken any actions required to register the Shares under the Securities Act or to perfect an exemption from the registration requirements thereof; 

(b) Any applicable listing requirement of any stock exchange or other securities market on which Stock is
listed has been satisfied; and 
 (c) Any other applicable provision of U.S. federal or state or
foreign law has been satisfied. 
 SECTION 9. NO REGISTRATION RIGHTS. 

The Company may, but shall not be obligated to, register or qualify the sale of Shares under the Securities Act or any
other applicable law. The Company shall not be obligated to take any affirmative action in order to cause the sale of Shares under this Agreement to comply with any law. 
 SECTION 10. RESTRICTIONS ON TRANSFER OF SHARES. 
 (a)
Securities Law Restrictions. Regardless of whether the offering and sale of Shares under the Plan have been registered under the Securities Act or have been registered or qualified under the securities laws of any state or other relevant
jurisdiction, the Company at its discretion may impose restrictions upon the sale, pledge or other transfer of such Shares (including the placement of appropriate legends on stock certificates or the imposition of stop-transfer instructions) if, in
the judgment of the Company, such restrictions are necessary or desirable in order to achieve compliance with the Securities Act, the securities laws of any state or other relevant jurisdiction, or any other law. The Company will refuse to transfer
the Shares upon exercise thereof, or upon subsequent transfer, if the exercise or other transfer is not in compliance with applicable securities laws, including Regulation S of the Securities Act, pursuant to registration under the Securities Act or
pursuant to an available exemption from registration. The Company may require the Optionee or a Transferee of the Shares issued on exercise of the option to deliver an opinion of counsel confirming that the issuance or transfer of the Shares are
exempt from registration under the Securities Act. 
 (b) Market Stand-Off. In connection with any
underwritten public offering by the Company of its equity securities pursuant to an effective registration statement filed under the Securities Act or the laws of any other jurisdiction, including the Company’s initial public offering, the
Optionee or a Transferee shall not directly or indirectly sell, make any short sale of, loan, hypothecate, pledge, offer, grant or sell any option or other contract for the purchase of, purchase any option or other contract for the sale of, or
otherwise dispose of or transfer, or agree to engage in any of the foregoing transactions with respect to, any Shares acquired under this Agreement without the prior written consent of the Company or its managing underwriter. Such restriction (the
“Market Stand-Off”) shall be in effect for such period of time following the date 

  
 7 

 
of the final prospectus for the offering as may be requested by the Company or such underwriter. In no event, however, shall such period exceed 180 days plus such additional period as may
reasonably be requested by the Company or such underwriter to accommodate regulatory restrictions on (i) the publication or other distribution of research reports or (ii) analyst recommendations and opinions, including (without limitation)
the restrictions set forth in Rule 2711(f)(4) of the National Association of Securities Dealers and Rule 472(f)(4) of the New York Stock Exchange, as amended, or any similar successor rules. The Market Stand-Off shall in any event
terminate two years after the date of the Company’s initial public offering. In the event of the declaration of a stock dividend, a spin-off, a stock split, an adjustment in conversion ratio, a recapitalization or a similar transaction
affecting the Company’s outstanding securities without receipt of consideration, any new, substituted or additional securities which are by reason of such transaction distributed with respect to any Shares subject to the Market Stand-Off, or
into which such Shares thereby become convertible, shall immediately be subject to the Market Stand-Off. In order to enforce the Market Stand-Off, the Company may impose stop-transfer instructions with respect to the Shares acquired under this
Agreement until the end of the applicable stand-off period. The Company’s underwriters shall be beneficiaries of the agreement set forth in this Subsection (b). This Subsection (b) shall not apply to Shares registered in the public
offering under the Securities Act. 
 (c) Investment Intent at Grant. The Optionee represents and agrees
that the Shares to be acquired upon exercising this option will be acquired for investment, and not with a view to the sale or distribution thereof. 
 (d) Investment Intent at Exercise. In the event that the sale of Shares under the Plan is not registered under the Securities Act but an exemption is available that requires an investment
representation or other representation, the Optionee shall represent and agree at the time of exercise that the Shares being acquired upon exercising this option are being acquired for investment, and not with a view to the sale or distribution
thereof, and shall make such other representations as are deemed necessary or appropriate by the Company and its counsel. 
 (e) Legends. All certificates evidencing Shares purchased or subscribed for under this Agreement shall bear the following legend: 

“THE SHARES REPRESENTED HEREBY MAY NOT BE SOLD, ASSIGNED, TRANSFERRED, ENCUMBERED OR IN ANY MANNER DISPOSED OF,
EXCEPT IN COMPLIANCE WITH THE TERMS OF A WRITTEN AGREEMENT BETWEEN THE COMPANY AND THE REGISTERED HOLDER OF THE SHARES (OR THE PREDECESSOR IN INTEREST TO THE SHARES). SUCH AGREEMENT GRANTS TO THE COMPANY CERTAIN RIGHTS OF FIRST REFUSAL UPON AN
ATTEMPTED TRANSFER OF THE SHARES. THE SECRETARY OF THE COMPANY WILL UPON WRITTEN REQUEST FURNISH A COPY OF SUCH AGREEMENT TO THE HOLDER HEREOF WITHOUT CHARGE.” 
 All certificates evidencing Shares purchased or subscribed for under this Agreement in an unregistered transaction shall bear the following legend (and such other restrictive legends as are required or
deemed advisable under the provisions of any applicable law): 

  
 8 

 “THE SHARES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, PLEDGED, OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION THEREOF UNDER SUCH ACT OR AN OPINION OF COUNSEL, SATISFACTORY TO THE COMPANY AND ITS COUNSEL, THAT SUCH REGISTRATION IS NOT
REQUIRED.” 
 (f) Removal of Legends. If, in the opinion of the Company and its counsel, any legend
placed on a stock certificate representing Shares sold under this Agreement is no longer required, the holder of such certificate shall be entitled to exchange such certificate for a certificate representing the same number of Shares but without
such legend. 
 (g) Administration. Any determination by the Company and its counsel in connection with
any of the matters set forth in this Section 10 shall be conclusive and binding on the Optionee and all other persons. 
 SECTION 11.
ADJUSTMENT OF SHARES. 
 In the event of any transaction described in Section 8(a) of the Plan, the
terms of this option (including, without limitation, the number and kind of Shares subject to this option and the Exercise Price) shall be adjusted as set forth in Section 8(a) of the Plan. In the event that the Company is a party to a merger
or consolidation, this option shall be subject to the agreement of merger or consolidation, as provided in Section 8(b) of the Plan. 

SECTION 12. MISCELLANEOUS PROVISIONS. 
 (a) Rights as a Stockholder. Neither the Optionee nor the Optionee’s representative shall have any rights as a stockholder with respect to any Shares subject to this option until the Optionee
or the Optionee’s representative becomes entitled to receive such Shares by filing a notice of exercise and paying the Purchase Price pursuant to Sections 4 and 5. 

(b) Notice. Any notice required by the terms of this Agreement shall be given in writing. It shall be deemed
effective upon (i) personal delivery, (ii) deposit with the United States Postal Service, by registered or certified mail, with postage and fees prepaid or (iii) deposit with Federal Express Corporation (or other overnight courier
service approved by the Company), with shipping charges prepaid. Notice shall be addressed to the Company at its principal executive office and to the Optionee at the address that he or she most recently provided to the Company in accordance with
this Subsection (b). 
 (c) Entire Agreement. The Notice of Stock Option Grant, this Agreement,
including the Appendix, and the Plan constitute the entire contract between the parties hereto with regard to the subject matter hereof. They supersede any other agreements, representations or understandings (whether oral or written and whether
express or implied) that relate to the subject matter hereof. 
 (d) Choice of Law; Venue. This Agreement
shall be governed by, and construed in accordance with, the laws of the State of Delaware, U.S.A., as such laws are applied to contracts entered into and performed in such state, without regard to such state’s conflict of

  
 9 

 
law provisions. For purposes of litigating any dispute that arises directly or indirectly from the relationship of the parties as evidenced by this Agreement and/or the Plan, the parties hereby
submit to and consent to the exclusive jurisdiction of the State of California and agree that such litigation shall be conducted only in the courts of the County of San Mateo, California, or the United States federal courts for the Northern District
of California, and no other courts, where this option grant is made and/or to be performed. 
 (e)
Authorization to Disclose. The Optionee hereby authorizes and directs the Employer to disclose to the Company or any Parent or Subsidiary such information regarding the Optionee’s Service, the nature and amount of Optionee’s
compensation and the fact and conditions of Optionee’s participation in the Plan as the Employer deems necessary or appropriate to facilitate the administration of the Plan. 

(f) Personal Data Authorization. 

(i) The Optionee hereby explicitly and unambiguously consents to the collection, use and transfer,
in electronic or other form, of his or her personal data as described in this Agreement and any other option grant materials by and among, as applicable, the Employer, the Company and/or any Parent or Subsidiary for the exclusive purpose of
implementing, administering and managing the Optionee’s participation in the Plan. 

(ii) The Optionee understands that the Company and the Employer may hold certain personal
information about the Optionee, including the Optionee’s name, home address and telephone number, date of birth, social insurance number or other identification number, salary, nationality, job title, any shares of Stock or directorships held
in the Company, details of all options or any other entitlement to shares of Stock awarded, canceled, exercised, vested, unvested or outstanding in Optionee’s favor, for the purpose of managing and administering the Plan (“Data”).

 (iii) The Optionee understands that Data will be transferred to any stock plan
service provider or broker as may be selected by the Company in the future, which is assisting the Company with the implementation, administration and management of the Plan. The Optionee understands that the recipients of the Data may be located in
the United States or elsewhere, and that the recipients’ country (e.g., the United States) may have different data privacy laws and protections than the Optionee’s country. The Optionee understands that he or she may request a list with
the names and addresses of any potential recipients of the Data by contacting his or her local human resources representative. The Optionee authorizes the Company, any stock plan service provider or broker selected by the Company and any other
possible recipients that may assist the Company (presently or in the future) with implementing, administering and managing the Plan to receive, possess, use, retain and transfer the Data, in electronic or other form, for the sole purpose of
implementing, administering and managing the Optionee’s participation in the Plan. The Optionee understands that Data will be held only as long as is 

  
 10 

 
necessary to implement, administer and manage his or her participation in the Plan. The Optionee understands that, at any time, he or she may view Data, require any necessary amendments to Data
or refuse or withdraw the consents herein, in any case without cost, by contacting in writing his or her local human resources representative. The Optionee understands, however, that refusing or withdrawing consent may affect his or her ability to
participate in the Plan. For more information on the consequences of refusing to consent or withdrawing consent, the Optionee understands that he or she may contact his or her local human resources representative. 

(g) Language. If the Optionee has received this Agreement or any other document related to the Plan translated
into a language other than English and if the meaning of the translated version differs from the English version, the English version shall control. 
 (h) Severability. The provisions of this Agreement are severable and if any one or more provisions are determined to be illegal or otherwise unenforceable, in whole or in part, the remaining
provisions nevertheless shall be binding and enforceable. 
 (i) Appendix. Notwithstanding any provisions
in this Agreement, this option shall be subject to any special terms and conditions set forth in any Appendix to this Agreement for the Optionee’s country. Moreover, if the Optionee relocates to one of the countries included in the Appendix,
the special terms and conditions for such country will apply to the Optionee, to the extent that the Company determines that the application of such terms and conditions is necessary or advisable in order to comply with applicable law or facilitate
the administration of the Plan. The Appendix constitutes part of this Agreement. 
 (j) Imposition of Other
Requirements. The Company reserves the right to impose other requirements on the Optionee’s participation in the Plan, on this option and on any Shares acquired under the Plan, to the extent that the Company determines that it is necessary
or advisable in order to comply with applicable law or facilitate the administration of the Plan, and to require the Optionee to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing. 

SECTION 13. ACKNOWLEDGEMENTS OF THE OPTIONEE. 
 (a) Nature of Grant. In accepting this option, the Optionee acknowledges, understands, and agrees that: 

(i) the Plan is established voluntarily by the Company, is discretionary in nature and may be modified,
amended, suspended, or terminated by the Company at any time; 
 (ii) the grant of this option is
voluntary and occasional and does not create any contractual or other right to receive future option grants, or benefits in lieu of option grants, even if such grants have been made repeatedly in the past; 

  
 11 

 (iii) all decisions with respect to future option grants, if
any, will be at the sole discretion of the Company; 
 (iv) the Optionee’s participation in
the Plan shall not create a right to perform future Services for the Employer and shall not interfere with the Employer’s ability to terminate the Optionee’s Service at any time; 

(v) the Optionee’s participation in the Plan is voluntary; 

(vi) this option and the Shares subject to this option are an extraordinary item that does not constitute
compensation of any kind for Services of any kind rendered to the Company or the Employer, and which is outside the scope of the Optionee’s employment or other contract for Services, if any; 

(vii) this option and the Shares subject to this option are not intended to replace any pension rights or
compensation; 
 (viii) this option and the Shares subject to this option are not part of normal
or expected compensation or salary for any purposes, including, without limitation, calculating any severance, resignation, termination, redundancy, dismissal, end-of-service payments, bonuses, long-service awards, pension or retirement or welfare
benefits or similar payments and in no event should be considered as compensation for, or relating in any way to, past Services to the Company, the Employer, or any Parent or Subsidiary; 

(ix) this option grant and the Optionee’s participation in the Plan shall not be interpreted to form
an employment contract or relationship with the Company or any Parent or Subsidiary; 
 (x) the
future value of the Shares subject to this option is unknown and cannot be predicted with certainty; 
 (xi) if the Shares subject to this option do not increase in value, this option will have no value; 
 (xii) if the Optionee exercises this option and obtains Shares, the value of the Shares acquired upon exercise may increase or decrease in value, even below the Exercise Price per Share; 

(xiii) no claim or entitlement to compensation or damages shall arise from forfeiture of any portion of
this option resulting from termination of the Optionee’s Service by the Company or the Employer (for any reason whatsoever and regardless of whether in breach of applicable labor laws); and, in consideration of the grant of this option, to
which the Optionee is not otherwise entitled, the Optionee irrevocably agrees never to institute any claim against the Company or the Employer, waives his or her ability, if any, to bring any such claim, and releases the Company and the Employer
from any such claim; if, notwithstanding the foregoing, any such claim is allowed by a court of competent 

  
 12 

 
jurisdiction, then, by participating in the Plan, the Optionee shall be deemed irrevocably to have agreed not to pursue such claim and agrees to execute any and all documents necessary to request
dismissal or withdrawal of such claims; 
 (xiv) in the event of termination of the
Optionee’s Service (regardless of whether in breach of applicable labor laws), the Optionee’s right to vest in this option, if any, will terminate effective as of the date of termination of the Optionee’s active Service and will not
be extended by any notice period mandated under applicable law (e.g., active Service would not include a period of “garden leave” or similar period pursuant to applicable law); further, in the event of termination of the
Optionee’s Service (regardless of whether in breach of applicable labor laws), the Optionee’s right to exercise this option, if any, will be measured as of the date of termination of the Optionee’s active Service and will not be
extended by any notice period mandated under applicable law; the Board of Directors shall have the exclusive discretion to determine when the Optionee’s active Service is terminated for purposes of this option; and 

(xv) this option and the benefits under the Plan, if any, will not transfer automatically to another
company in the case of a merger, takeover, or transfer of liability. 
 (b) No Advice Regarding Grant.
The Company is not providing any tax, legal, or financial advice, nor is the Company making any recommendations regarding the Optionee’s participation in the Plan, or his or her acquisition or sale of the Shares subject to this option. The
Optionee is solely responsible for taking all appropriate legal advice, notably concerning U.S. and local country tax and social security regulations, when signing this Agreement, and when thereafter exercising the option, or sale of the Shares
acquired under this Agreement or more generally when taking any decision in relation with this option, this Agreement or otherwise under the Plan. The Company does not represent or guaranty that the Optionee may benefit from specific provisions
under said regulations and the Optionee shall on his or her own efforts receive proper information in this respect. The Optionee is hereby advised to consult with his or her personal tax, legal, and financial advisors regarding his or her
participation in the Plan before taking any action related to the Plan. 
 (c) Tax Consequences. The
Optionee agrees that the Company does not have a duty to design or administer the Plan or its other compensation programs in a manner that minimizes the Optionee’s liability for Tax-Related Items. The Optionee shall not make any claim against
the Company or its Board of Directors, officers or employees related to Tax-Related Items arising from this option or the Optionee’s other compensation. In particular, the Optionee acknowledges that this option is exempt from Section 409A
of the Code only if the Exercise Price is at least equal to the Fair Market Value per Share on the Date of Grant. Since Shares are not traded on an established securities market as of the Date of Grant of this option, the determination of their Fair
Market Value is made by the Board of Directors or by an independent valuation firm retained by the Company. The Optionee acknowledges that there is no guarantee in either case that the U.S. Internal Revenue Service or local tax authorities will
agree with the valuation, and the Optionee shall not make any claim against the Company or its 

  
 13 

 
Board of Directors, officers or employees in the event that the U.S. Internal Revenue Service or local tax authorities assert that the valuation was too low. 

(d) Electronic Delivery of Documents. The Optionee agrees that the Company may decide, in its sole discretion, to
deliver by email or other electronic means any documents relating to the Plan or this option (including, without limitation, a copy of the Plan) and all other documents that the Company is required to deliver to its security holders (including,
without limitation, disclosures that may be required by the U.S. Securities and Exchange Commission). The Optionee also agrees that the Company may deliver these documents by posting them on a website maintained by the Company or by a third party
under contract with the Company. If the Company posts these documents on a website, it shall notify the Optionee by email. 
 SECTION 14.
DEFINITIONS. 
 (a) “Agreement” shall mean this Stock Option Agreement. 

(b) “Appendix” shall mean an appendix to this Agreement containing special terms and conditions for the
Optionee’s country. 
 (c) “Board of Directors” shall mean the Board of Directors of the
Company, as constituted from time to time or, if a Committee has been appointed, such Committee. 
 (d)
“Code” shall mean the U.S. Internal Revenue Code of 1986, as amended. 
 (e)
“Committee” shall mean a committee of the Board of Directors, as described in Section 2 of the Plan. 
 (f) “Company” shall mean Guidewire Software, Inc., a Delaware corporation. 
 (g) “Consultant” shall mean a person who performs bona fide services for the Company, a Parent or a Subsidiary as a consultant or advisor, excluding Employees and Outside Directors.

 (h) “Date of Grant” shall mean the date of grant specified in the Notice of Stock Option
Grant, which date shall be the later of (i) the date on which the Board of Directors resolved to grant this option or (ii) the first day of the Optionee’s Service. 

(i) “Disability” shall mean that the Optionee is unable to engage in any substantial gainful activity by
reason of any medically determinable physical or mental impairment. 
 (j) “Employee” shall
mean any individual who is an active employee of the Company, a Parent or a Subsidiary. 

  
 14 

 (k) “Exercise Price” shall mean the amount for which one
Share may be purchased or subscribed for upon exercise of this option, as specified in the Notice of Stock Option Grant. 
 (l) “Fair Market Value” shall mean the fair market value of a Share, as determined by the Board of Directors in good faith. Such determination shall be conclusive and binding on all
persons. 
 (m) “Immediate Family” shall mean any child, stepchild, grandchild, parent,
stepparent, grandparent, spouse, sibling, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law or sister-in-law and shall include adoptive relationships. 

(n) “Misconduct” shall mean the commission of any act of fraud, embezzlement or dishonesty by Optionee,
any unauthorized use or disclosure by Optionee of confidential information or trade secrets of the Company (or any Parent or Subsidiary), or any other intentional misconduct by Optionee adversely affecting the business or affairs of the Company (or
any Parent or Subsidiary) in a material manner. The foregoing definition shall not in any way preclude or restrict the right of the Company (or any Parent or Subsidiary) to discharge or dismiss Optionee or any other person in the Service of the
Company (or any Parent or Subsidiary) for any other acts or omissions, but such other acts or omissions shall not be deemed, for purposes of the Plan or this Agreement, to constitute grounds for termination for Misconduct. 

(o) “Notice of Stock Option Grant” shall mean the document so entitled to which this Agreement is
attached. 
 (p) “NSO” shall mean a stock option not described in Sections 422(b) or
423(b) of the Code. 
 (q) “Optionee” shall mean the person named in the Notice of Stock Option
Grant. 
 (r) “Outside Director” shall mean a member of the Board of Directors who is not an
Employee. 
 (s) “Parent” shall mean any corporation (other than the Company) in an unbroken
chain of corporations ending with the Company, if each of the corporations other than the Company owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain.

 (t) “Plan” shall mean the Guidewire Software, Inc. 2006 Stock Plan, as in effect on the Date
of Grant. 
 (u) “Purchase Price” shall mean the Exercise Price multiplied by the number of
Shares with respect to which this option is being exercised. 
 (v) “Right of First Refusal”
shall mean the Company’s right of first refusal described in Section 7. 

  
 15 

 (w) “Securities Act” shall mean the U.S. Securities Act of
1933, as amended. 
 (x) “Service” shall mean service as an Employee, Outside Director or
Consultant. 
 (y) “Share” shall mean one share of Stock, as adjusted in accordance with
Section 8 of the Plan (if applicable). 
 (z) “Stock” shall mean the Common Stock of the
Company. 
 (aa) “Subsidiary” shall mean any corporation (other than the Company) in an
unbroken chain of corporations beginning with the Company, if each of the corporations other than the last corporation in the unbroken chain owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the
other corporations in such chain. 
 (bb) “Transferee” shall mean any person to whom the
Optionee has directly or indirectly transferred any Share acquired under this Agreement. 
 (cc)
“Transfer Notice” shall mean the notice of a proposed transfer of Shares described in Section 7. 

  
 16 

 APPENDIX TO 

GUIDEWIRE SOFTWARE, INC. 2006 STOCK PLAN: 

STOCK OPTION AGREEMENT 

(INTERNATIONAL) 
 TERMS AND CONDITIONS 
 This Appendix, which is part of the Agreement,
includes additional terms and conditions that govern this option and that will apply to the Optionee if he or she is in one of the countries listed below. 
 NOTIFICATIONS 
 This Appendix also includes information regarding
securities, exchange control and certain other issues of which the Optionee should be aware with respect to his or her participation in the Plan. The information is based on the securities, exchange control and other laws in effect in the respective
countries as of December 2009. Such laws are often complex and change frequently. As a result, the Company strongly recommends that the Optionee not rely on the information in this Appendix as the only source of information relating to the
consequences of his or her participation in the Plan because such information may be outdated when he or she exercises this option and/or sells any Shares acquired at exercise. 

In addition, the information contained herein is general in nature and may not apply to the Optionee’s particular situation. As a
result, the Company is not in a position to assure the Optionee of any particular result. The Optionee therefore is advised to seek appropriate professional advice as to how the relevant laws in his or her country may apply to his or her particular
situation. 
 Finally, if the Optionee is a citizen or resident of a country other than that in which Optionee currently is
working, or if he or she transfers employment to a different country after the grant of this option, the information contained herein may not apply to him or her. 
 Unless otherwise defined herein, capitalized terms set forth in this Appendix shall have the meanings ascribed to them in the Notice of Stock Option Grant and/or the Agreement. 

AUSTRALIA 
 TERMS AND
CONDITIONS 
 Exercisability. The following provision supplements Section 2(a) of the Agreement: 

The Optionee may not exercise this option as to any vested portion unless and until the Fair Market Value of the Shares subject to this
option on the date of exercise equals or exceeds the Exercise Price per Share set forth in the Notice of Stock Option Grant. 

  
 17 

 NOTIFICATIONS 
 Securities Law Notification. If the Optionee exercises this option and subsequently offers the Shares acquired at exercise for sale to a person or entity resident in Australia, the offer may be
subject to disclosure requirements under Australian law. The Optionee should obtain independent legal advice regarding any applicable disclosure obligations prior to making any such offer. 
 BRAZIL 
 There are no country-specific provisions. 

CANADA 
 TERMS AND
CONDITIONS 
 Termination of Service. The following provision supplements Section 13(a)(xiv) of the Agreement: 

The Optionee’s active Service shall be considered terminated as of the earlier of (a) the date that the Optionee receives notice
of termination of Service from the Company or the Employer; or (b) the date that the Optionee is no longer actively employed by the Company or the Employer, regardless of any notice period or period of pay in lieu of such notice required under
applicable law. The Board of Directors shall have the exclusive discretion to determine when the Optionee’s active Service is terminated for purposes of this option. 
 The following provisions apply to this option if the Optionee is a resident of Quebec: 
 Language Consent. The parties acknowledge that it is their express wish that this Agreement, as well as all documents, notices and legal proceedings entered into, given, or instituted pursuant
hereto or relating directly or indirectly hereto, be drawn up in English. 
 Les parties reconnaissent avoir exigé la
rédaction en anglais de cette convention, ainsi que de tous documents, avis et procédures judiciaires, exécutés, donnés ou intentés en vertu de, ou liés directement ou indirectement à, la
présente convention. 
 Data Privacy Notice and Consent. The following provision supplements Section 12(f) of the
Agreement: 
 The Optionee hereby authorizes the Company and the Company’s representatives to discuss with and obtain all
relevant information from all personnel (professional or not) involved in the administration and operation of the Plan. The Optionee further authorizes the Company and the Employer to disclose and discuss with their advisors the Optionee’s
participation in the Plan. 

  
 18 

 
The Optionee also authorizes the Company and the Employer to record such information and to keep it in his or her employment file. 
 FINLAND 
 There are no country-specific provisions. 

GERMANY 
 There are no
country-specific provisions. 
 HONG KONG 
 WARNING: This option and any Shares issued upon exercise do not constitute a public offering of securities under Hong Kong law and are available only to Employees, Consultants, and Outside Directors.
The Agreement, including this Appendix, the Plan and other incidental communication materials have not been prepared in accordance with and are not intended to constitute a “prospectus” for a public offering of securities under the
applicable securities legislation in Hong Kong. Nor have the documents been reviewed by any regulatory authority in Hong Kong. This option is intended only for the personal use of an eligible Employee, Consultant, or Outside Director and may not be
distributed to any other person. If the Optionee is in doubt as to any of the contents of the Agreement, including this Appendix, or the Plan, the Optionee should obtain independent professional advice. 

TERMS AND CONDITIONS 
 Sale of Shares. If any portion of this option vests within six (6) months of the Date of Grant, the Optionee hereby agrees that he or she will not exercise this option and sell any Shares thus
acquired prior to the six-month anniversary of the Date of Grant. 
 NOTIFICATIONS 

Nature of Scheme. The Company specifically intends that the Plan will not be an occupational retirement scheme for purposes of the
Occupational Retirement Schemes Ordinance. 
 JAPAN 
 There are no country-specific provisions. 

  
 19 

 NEW ZEALAND 
 There are no country-specific provisions. 
 RUSSIA 

TERMS AND CONDITIONS 
 U.S. Transaction. The Optionee understands that this option shall be valid and the Agreement shall be concluded and become effective only when the executed Agreement is received by the Company in
the United States. Upon exercise of this option, any Shares to be issued shall be delivered through a bank or brokerage account in the United States only. The Optionee is not permitted to sell the Shares directly to a Russian legal entity or to
Russian individuals. 
 NOTIFICATION 
 Securities Law Notification. The Agreement, including this Appendix, the Plan, and all other materials that the Optionee may receive regarding participation in the Plan do not constitute
advertising or an offering of securities in Russia. Unless otherwise required under local law, the issuance of securities pursuant to the Plan has not and will not be registered in Russia; hence, the securities described in any Plan-related
documents may not be used for offering or public circulation in Russia. 
 Depending on the development of local regulatory
requirements, the Company reserves the right to restrict the Optionee’s ability to exercise this option to the Exercise/Sale method provided for in Section 5(b). In such circumstance, the Company would require that all Shares issued upon
exercise would be sold immediately, and the Optionee would receive the cash proceeds of sale, less the aggregate Exercise Price, any applicable Tax-Related Items, and any applicable brokerage fees or commissions. If the Company, in its sole
discretion, requires an Exercise/Sale, the Optionee will not be permitted to hold any Shares after exercise. 
 SPAIN 

TERMS AND CONDITIONS 
 Labor Law
Acknowledgment. The following provision supplements Section 13(a) of the Agreement: 
 By accepting this option, the
Optionee consents to participation in the Plan and acknowledges that he or she has received a copy of the Plan. 
 The Optionee
understands that the Company has unilaterally, gratuitously, and in its sole discretion decided to grant stock options under the Plan to individuals who may be Employees, Consultants, or Outside Directors throughout the world. The decision is a
limited decision, 

  
 20 

 
which is entered into upon the express assumption and condition that this option will not bind the Company or any Parent or Subsidiary, economically or otherwise, on an ongoing basis, other than
as expressly set forth in the Agreement, including this Appendix. Consequently, the Optionee understands that this option is granted on the assumption and condition that it shall not become a part of any employment contract (either with the Company
or any Parent or Subsidiary) and shall not be considered a mandatory benefit, salary for any purpose (including severance compensation), or any other right whatsoever. Furthermore, the Optionee understands and freely accepts that there is no
guarantee that any benefit whatsoever shall arise from the gratuitous and discretionary grant of this option since the future value of this option and the underlying Shares is unknown and unpredictable. In addition, the Optionee understands that
this option would not be granted but for the assumptions and conditions referred to above; thus, the Optionee understands, acknowledges, and freely accepts that, should any or all of the assumptions be mistaken or should any of the conditions not be
met for any reason, then any grant of this option or right to this option shall be null and void. 
 UNITED KINGDOM 

TERMS AND CONDITIONS 
 Joint Election for Transfer of Liability for Employer National Insurance Contributions. As a condition of participation in the Plan and the exercise of this option, the Optionee agrees to accept
any liability for secondary Class 1 National Insurance contributions that may be payable by the Company, the Employer, a Parent or a Subsidiary in connection with this option and any event giving rise to Tax-Related Items (the “Employer
NICs”). Without prejudice to the foregoing, the Optionee agrees to execute a joint election with the Company, the form of such joint election (the “Joint Election”) having been approved formally by Her Majesty’s
Revenue and Customs (“HMRC”), and any other required consent or election. The Optionee further agrees to execute such other joint elections as may be required between the Optionee and any successor to the Company, the Employer, a
Parent or a Subsidiary. The Optionee further agrees that the Company, the Employer, a Parent or a Subsidiary may collect the Employer NICs from the Optionee by any of the means set forth in Section 4(c)(ii) of the Agreement. 

If the Optionee does not enter into a Joint Election prior to the exercise of this option, he or she will not be entitled to exercise
this option unless and until he or she enters into a Joint Election, and no Shares will be issued to the Optionee under the Plan, without any liability to the Company, the Employer, a Parent or a Subsidiary. 

Section 431 Election. As a condition of participation in the Plan and the exercise of this option, the Optionee agrees that,
jointly with the Employer, he or she shall enter into the joint election within Section 431 of the U.K. Income Tax (Earnings and Pensions) Act 2003 (“ITEPA 2003”) in respect of computing any tax charge on the acquisition of
“Restricted Securities” (as defined in Sections 423 and 424 of ITEPA 2003), and that the Optionee will not revoke such election at any time. This election will be to treat the Shares acquired pursuant to the exercise of this option as if
such Shares were not Restricted Securities (for U.K. tax purposes only). The Optionee must 

  
 21 

 
enter into the form of election, which will be provided by the Company, concurrent with the execution of the Notice of Stock Option Grant. 

Withholding Taxes. The following provision supplements Section 4(c) of the Agreement: 

The Optionee agrees that, if he or she does not pay or the Company, the Employer, a Parent or a Subsidiary does not withhold from
Optionee the full amount of Tax-Related Items (including the Employer NICs) within ninety (90) days of the event giving rise to the Tax-Related Items (the “Taxable Event”) or such other period specified in
Section 222(1)(c) of the U.K. Income Tax (Earnings and Pensions) Act 2003 (the “Due Date”), the amount shall constitute a loan owed by the Optionee to the Company, the Employer, a Parent or a Subsidiary, effective as of the Due
Date. The Optionee agrees that the loan will bear interest at the official HMRC rate and immediately will be due and repayable by Optionee, and the Company, a Parent or a Subsidiary may recover it at any time thereafter by any of the means referred
to in Section 4(c)(ii) of the Agreement. The Optionee also authorizes the Company to delay the issuance of any Shares to the Optionee unless and until the loan is repaid in full. 

Notwithstanding the foregoing, if the Optionee is an executive officer or director within the meaning of Section 13(k) of the
Securities Exchange Act of 1934, as amended, the terms of paragraph (iv) of Section 4(c) will not apply. In the event that the Optionee is an executive officer or director and Tax-Related Items are not collected by the Due Date, the amount
of any uncollected Tax-Related Items may constitute a benefit to the Optionee on which additional income tax and National Insurance contributions (including Employer NICs) may be payable. The Optionee will be responsible for reporting any income tax
and National Insurance contributions (including Employer NICs) due on this additional benefit directly to HMRC under the self-assessment regime. 

  
 222009 Stock Plan and forms of agreements thereunder

 Exhibit 10.3 
 GUIDEWIRE SOFTWARE, INC. 

2009 STOCK PLAN 
 (PROVIDING FOR OPTIONS TO BE GRANTED TO CERTAIN EMPLOYEES
OF THE COMPANY OR A 
 COMPANY
SUBSIDIARY WHO PERFORM SERVICES IN FRANCE) 
 APPROVED BY THE BOARD OF DIRECTORS ON: JULY 28, 2009 

APPROVED BY THE STOCKHOLDERS ON:
JULY 28, 2009 

 GUIDEWIRE SOFTWARE, INC. 2009
STOCK PLAN 
 SECTION 1. ESTABLISHMENT AND PURPOSE. 

The purpose of the Plan, as proposed by the Board of Directors and decided by the Company’s stockholders, is to offer selected
persons an opportunity to acquire or subscribe to a proprietary interest in the success of the Company, or to increase such interest, by purchasing or subscribing for Shares of the Company’s Stock. The Plan provides for the grant of Options to
purchase or subscribing for Shares. 
 Capitalized terms are defined in Section 11. 

SECTION 2. ADMINISTRATION. 
 (a) Committees of the Board of Directors. The Plan may be administered by one or more Committees. Each Committee shall consist of one or more members of the Board of Directors who have been
appointed by the Board of Directors. Each Committee shall have such authority and be responsible for such functions as the Board of Directors has assigned to it. If no Committee has been appointed, the entire Board of Directors shall administer the
Plan. Any reference to the Board of Directors in the Plan shall be construed as a reference to the Committee (if any) to whom the Board of Directors has assigned a particular function. 

(b) Authority of the Board of Directors. Subject to the provisions of the Plan, the Board of Directors shall have full authority
and discretion to take any actions it deems necessary or advisable for the administration of the Plan. All decisions, interpretations and other actions of the Board of Directors shall be final and binding on all Optionees and all persons deriving
their rights from an Optionee. 
 SECTION 3. ELIGIBILITY. 
 (a) General Rule. Only Employees shall be eligible for the grant of Options. 
 (b) Ten-Percent Stockholders. An Employee who owns more than 10% of the total number of outstanding of all classes of outstanding stock of the Company, its Parent or any of its Subsidiaries shall
not be eligible for designation as an Optionee. For purposes of this Subsection (b), the ownership attribution rules, if any, promulgated under French tax law shall apply in determining stock ownership. 

SECTION 4. STOCK SUBJECT TO PLAN. 
 (a) Basic Limitation. The maximum aggregate number of Shares that may be issued or subscribed for under the Plan is 100,000, subject to adjustment as provided in Subsection (b) below and
Section 7(a)) below. The number of Shares that are subject to Options or other rights outstanding at any time under the Plan shall not exceed the number of Shares 

 
specified in the preceding sentence. The Company, during the term of the Plan, shall at all times reserve and keep available sufficient Shares to satisfy the requirements of the Plan. Shares
offered under the Plan shall be authorized but as-yet-unissued (original issuance) Shares. 
 (b) Additional Shares. In
the event that an outstanding Option for any reason expires or is canceled prior to its Exercise in full, then the Shares subject to the Unexercised portion of the expired or cancelled Option will again be available for issuance under this Plan.

 SECTION 5. TERMS AND CONDITIONS OF OPTIONS. 
 (a) Stock Option Agreement. Each grant of an Option under the Plan shall be evidenced by a Stock Option Agreement between the Optionee and the Company. The Option shall be subject to all applicable
terms and conditions of the Plan and may be subject to any other terms and conditions which are not inconsistent with the Plan and which the Board of Directors, in the exercise its powers specified hereunder, deems appropriate for inclusion in a
Stock Option Agreement. The provisions of the various Stock Option Agreements entered into under the Plan need not be identical. 
 (b) Number of Shares. Each Stock Option Agreement shall specify the number of Shares that are subject to the Option and shall provide for the adjustment of such number in accordance with
Section 7. 
 (c) Exercise Price. Each Stock Option Agreement shall specify the Exercise Price. The Exercise Price
of any Option shall not be less than 100% of the Fair Market Value of a Share on the date of grant. Subject to the preceding sentence, the Exercise Price shall be determined by the Board of Directors at its sole discretion. The Exercise Price shall
be payable in a form described in Section 6. 
 (d) Vesting; Exercisability. Each Stock Option Agreement shall
specify the date when all or any installment of the Option is to Vest and/or become Exercisable. The Board of Directors shall determine the Vesting and Exercisability provisions of the Stock Option Agreement in its sole discretion; provided however
that it is anticipated that Options shall not first become Exercisable as to Vested Shares until on or after the fourth anniversary of the grant date of the Option. No Option shall be Exercisable unless the Optionee (i) has delivered an
executed copy of the Stock Option Agreement to the Company otherwise agrees to be bound by the terms of the Stock Option Agreement, and (ii) has delivered or made arrangements satisfactory to the Company for delivery of the Exercise Price and
any applicable withholding taxes owed in connection with such exercise. Notwithstanding the above, all of an Optionee’s Options shall become Exercisable in full if Section 7(b)(iv) applies. 

(e) Basic Term. The Stock Option Agreement shall specify the term of the Option, meaning that the Option shall expire in full and
no longer be Exercisable at the conclusion of the specified term. Such term shall not exceed 10 years from the date of grant. Subject to the preceding sentence, the Board of Directors at its sole discretion shall determine when an Option is to
expire. The Option may terminate earlier in certain circumstances including under Subsection (f) and Section 7(b) below. 

  
 2 

 (f) Termination of Service. If an Optionee’s Service terminates for any reason
other than the Optionee’s death, then the Optionee’s Options shall expire on the earliest of the following occasions: 
 (i) The expiration date determined pursuant to Subsection (e) above; 
 (ii) The date three months after the termination of the Optionee’s Service for any reason other than Disability, or such later date as the Board of Directors may determine; or 

(iii) The date six months after the termination of the Optionee’s Service by reason of Disability, or such later date
as the Board of Directors may determine. 
 The Optionee may Exercise all or part of the Optionee’s Vested Options at any time before the
expiration of such Options under the preceding sentence, but only to the extent that such Options had Vested and become Exercisable before the Optionee’s Service terminated (or became Vested and Exercisable as a result of the termination).
Unvested Options shall lapse immediately upon termination of the Optionee’s Service. 
 (g) Death of Optionee. In
the event that the Optionee’s Service terminates as a result of his or her death, or the Optionee dies after the termination of the Optionee’s Service but before the expiration of the Optionee’s Options, all or part of such Options
may be Exercised (prior to expiration) by the executors or administrators of the Optionee’s estate or by any person who has acquired such Options directly from the Optionee by beneficiary designation, bequest or inheritance, but only within six
(6) months from the Optionee’s death and only to the extent that such Options had Vested and become Exercisable before the Optionee’s Service terminated (or became Vested and Exercisable as a result of the termination). 

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

(i) Restrictions on Shares. Any Shares issued upon Exercise of an Option shall be subject to such special forfeiture conditions,
rights of repurchase, rights of first refusal and other transfer restrictions as the Board of Directors may determine. Such restrictions shall be set forth in the applicable Stock Option Agreement and shall apply in addition to any restrictions that
may apply to holders of Shares generally. 
 (k) Transferability of Options. An Option shall not be transferable by the
Optionee. 
 (l) Withholding Taxes. As a condition to grant and Exercise of an Option, the Optionee shall make such
arrangements as the Board of Directors may require for the satisfaction of any US federal, state, local or foreign withholding tax obligations that may arise 

  
 3 

 
in connection with such grant and/or Exercise. The Optionee shall also make such arrangements as the Board of Directors may require for the satisfaction of any federal, state, local or foreign
withholding tax obligations that may arise in connection with the disposition of Shares acquired by exercising an Option. 

(m) No Rights as a Stockholder. An Optionee, or a transferee of an Optionee, shall have no rights as a stockholder with respect to
any Shares covered by the Optionee’s Option until such person becomes entitled to receive such Shares by filing a notice of Exercise and paying the Exercise Price pursuant to the terms of such Option. 

(n) Modification, Extension and Assumption of Options. Within the limitations of the Plan, the Board of Directors may modify,
extend or assume outstanding Options or may accept the cancellation of outstanding Options (whether granted by the Company or another issuer) in return for the grant of new Options for the same or a different number of Shares and at the same or a
different Exercise Price. The foregoing notwithstanding, no modification of an Option shall, without the consent of the Optionee, impair the Optionee’s rights or increase the Optionee’s obligations under such Option. 

SECTION 6. PAYMENT FOR SHARES. 
 (a) General Rule. The entire Purchase Price or Exercise Price of Shares issued under the Plan shall be payable in cash or cash equivalents at the time when such Shares are purchased or subscribed
for, except as otherwise provided in this Section 6. 
 (b) Services Rendered. At the discretion of the Board of
Directors, Shares may be awarded under the Plan in consideration of services rendered to the Company, a Parent or a Subsidiary prior to the award. 
 (c) Surrender of Stock. At the discretion of the Board of Directors, all or any part of the Exercise Price may be paid by surrendering, or attesting to the ownership of, Shares that are already
owned by the Optionee. Such Shares shall be surrendered to the Company in good form for transfer and shall be valued at their Fair Market Value as of the date when the Option is Exercised. 

(d) Exercise/Sale. To the extent that a Stock Option Agreement so provides, and if Stock is publicly traded, all or part of the
Exercise Price and any withholding taxes may be paid by the delivery (on a form prescribed by the Company) of an irrevocable direction to a securities broker approved by the Company to sell Shares and to deliver all or part of the sales proceeds to
the Company. 
 (e) Other Forms of Payment. To the extent that a Stock Option Agreement so provides, the Purchase Price
or Exercise Price of Shares issued under the Plan may be paid in any other form permitted by the Delaware (USA) General Corporation Law, as amended or by French law. 

  
 4 

 SECTION 7. ADJUSTMENT OF SHARES. 

(a) General. In the event of a subdivision of the outstanding Stock, a declaration of a dividend payable in Shares, a combination
or consolidation of the outstanding Stock into a lesser number of Shares, a reclassification, or any other increase or decrease in the number of issued shares of Stock effected without receipt of consideration by the Company, proportionate
adjustments shall automatically be made in each of (i) the number of Shares available for future grants under Section 4, (ii) the number of Shares covered by each outstanding Option and (iii) the Exercise Price under each
outstanding Option. In the event of a declaration of an extraordinary dividend payable in a form other than Shares in an amount that has a material effect on the Fair Market Value of the Stock, a recapitalization, a spin-off, or a similar
occurrence, the Board of Directors at its sole discretion may make appropriate adjustments in one or more of (i) the number of Shares available for future grants under Section 4, (ii) the number of Shares covered by each outstanding
Option or (iii) the Exercise Price under each outstanding Option. 
 (b) Mergers and Consolidations. In the event
that the Company is a party to a merger or consolidation, all outstanding Options shall be subject to the agreement of merger or consolidation. Such agreement shall provide for one or more of the following: 

(i) The continuation of such outstanding Options by the Company (if the Company is the surviving corporation). 

(ii) The assumption of such outstanding Options by the surviving corporation or its parent in a manner that complies with
Section 424(a) of the Code. 
 (iii) The substitution by the surviving corporation or its parent of new
options for such outstanding Options in a manner that complies with Section 424(a) of the Code. 
 (iv) Full
Exercisability of such outstanding Options and full Vesting of the Shares subject to such Options, followed by the cancellation of such Options. The full Exercisability of such Options and full Vesting of the Shares subject to such Options may be
contingent on the closing of such merger or consolidation. The Optionees shall be able to Exercise such Options during a period of not less than five full business days preceding the closing date of such merger or consolidation, unless (A) a
shorter period is required to permit a timely closing of such merger or consolidation and (B) such shorter period still offers the Optionees a reasonable opportunity to Exercise such Options. Any Exercise of such Options during such period may
be contingent on the closing of such merger or consolidation. 
 (v) The cancellation of such outstanding Options
and a payment to the Optionees equal to the excess of (A) the Fair Market Value of the Shares subject to such Options (whether or not such Options are then Exercisable or such Shares are then Vested) as of the closing date of such merger or

  
 5 

 
consolidation over (B) their Exercise Price. Such payment shall be made in the form of cash, cash equivalents, or securities of the surviving corporation or its parent with a Fair Market
Value equal to the required amount. Such payment may be made in installments and may be deferred until the date or dates when such Options would have become Exercisable or such Shares would have Vested. Such payment may be subject to Vesting based
on the Optionee’s continuing Service, provided that the Vesting schedule shall not be less favorable to the Optionee than the schedule under which such Options would have become Exercisable or such Shares would have Vested. If the Exercise
Price of the Shares subject to such Options exceeds the Fair Market Value of such Shares, then such Options may be cancelled without making a payment to the Optionees. For purposes of this Paragraph (v), the Fair Market Value of any security
shall be determined without regard to any Vesting conditions that may apply to such security. 
 (c) Reservation of
Rights. Except as provided in this Section 7 and to Law, an Optionee shall have no rights by reason of (i) any subdivision or consolidation of shares of stock of any class, (ii) the payment of any dividend or (iii) any other
increase or decrease in the number of shares of stock of any class. Any issuance by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, shall not affect, and no adjustment by reason thereof shall
be made with respect to, the number or Exercise Price of Shares subject to an Option. The grant of an Option pursuant to the Plan shall not affect in any way the right or power of the Company to make adjustments, reclassifications, reorganizations
or changes of its capital or business structure, to merge or consolidate or to dissolve, liquidate, sell or transfer all or any part of its business or assets. 
 SECTION 8. LEGAL REQUIREMENTS. 
 (a) General. Shares shall not be
issued under the Plan unless the issuance and delivery of such Shares comply with (or are exempt from) all applicable requirements of Law, including (without limitation) Articles L 225-177 to L 225-186 of the French Commercial Code, and, provided
they comply with the above Articles of the French Commercial Code, the Securities Act of 1933, as amended, the rules and regulations promulgated thereunder, state securities laws and regulations, and the regulations of any stock exchange or other
securities market on which the Company’s securities may then be traded. The Company shall have no liability for failure to deliver Shares in the event it cannot in the opinion of its legal counsel do so in conformity with the requirements of
this Subsection 8(a). 
 (b) Financial Reports. To the extent required by Law, the Company each year shall furnish to
Optionees, and stockholders who have received Stock under the Plan any its balance sheet and income statement, unless such Optionees, or stockholders are key Employees whose duties with the Company assure them access to equivalent information. Such
balance sheet and income statement need not be audited. 

  
 6 

 SECTION 9. NO RETENTION RIGHTS. 

Nothing in the Plan or in the grant of any Option under the Plan shall confer upon the Optionee any right to continue in Service for any
period of specific duration or interfere with or otherwise restrict in any way the rights of the Company (or any Parent or Subsidiary employing or retaining the Optionee) or of the Optionee, which rights are hereby expressly reserved by each, to
terminate his or her Service at any time and for any reason, with or without cause. Nothing in the Plan or in the grant of any Option under the Plan shall create or integrate into any employment contract between the Optionee and the Company.

 SECTION 10. ADOPTION, DURATION AND AMENDMENTS. 
 (a) Stockholder Approval of the Plan. Stockholder approval of the Plan shall be obtained in the manner required by Law. 

(b) Term of the Plan. The Plan, as set forth herein including as subject to Subsection 10(a) above, shall
become effective on the date of its adoption by the Board of Directors and shall terminate automatically (meaning, that no more Options may thereafter be granted hereunder) at the end of the thirty-eighth (38th) month following the date on which the Company’s
stockholders approve the Plan. The Plan may be terminated on any earlier date pursuant to Subsection 10(c) below. Options that remain outstanding following termination of the Plan under this Subsection (b) shall continue to be governed
under the terms and conditions of the Plan until such Options expire by their terms. 
 (c) Right to Amend or Terminate the
Plan. The Board of Directors may amend, suspend or terminate the Plan at any time and for any reason; provided, however, that any amendment of the Plan shall be subject to the approval of the Company’s stockholders if it (i) increases
the number of Shares available for issuance under the Plan (except as provided in Section 7) or (ii) materially changes the class of persons who are eligible for the grant of Options. Stockholder approval shall not be required for any
other amendment of the Plan. 
 (d) Effect of Amendment or Termination. No Shares shall be issued or sold under the Plan
after the termination thereof, except upon Exercise of an Option granted prior to such termination. The termination of the Plan, or any amendment thereof, shall not affect any Share previously issued or any Option previously granted under the Plan.

 SECTION 11. DEFINITIONS. 
 (a) “Board of Directors” shall mean the Board of Directors of the Company, as constituted from time to time. 
 (b) “Change in Control” shall mean a change in ownership or control of the Company effected through any of the following transactions: 

 

	 	i.	a stockholder-approved merger or consolidation in which securities possessing more than fifty percent (50%) of the total combined voting power of the
Company’s outstanding securities are transferred to a person or persons different from the persons holding those securities immediately prior to such transaction, or 

  
 7 

	 	ii.	a stockholder-approved sale, transfer or other disposition of all or substantially all of the Company’s assets in complete liquidation or dissolution of the
Company, or 

  

	 	iii.	the acquisition, directly or indirectly, by any person or related group of persons (other than the Company or a person that directly or indirectly controls, is
controlled by, or is under common control with, the Company), of beneficial ownership (within the meaning of Rule 13-d3 of the 1934 Act) of securities possessing more than fifty percent (50%) of the total combined voting power of the
Company’s outstanding securities pursuant to a tender or exchange offer made directly to the Company’s stockholders. 

In no event shall any public offering of the Company’s securities be deemed to constitute a Change in Control. 

(c) “Code” shall mean the US Internal Revenue Code of 1986, as amended. 

(d) “Committee” shall mean a committee of the Board of Directors, as described in Section 2(a). 

(e) “Company” shall mean Guidewire Software, Inc., a Delaware corporation. 

(f) “Disability” shall mean that the Optionee is unable to engage in any substantial gainful activity by reason of any
medically determinable physical or mental impairment. 
 (g) “Employee” shall mean any individual who is a
common-law employee of Guidewire Software France SAS, a French company having its registered office 43 rue Taitbout 75009 PARIS France and which is a Subsidiary of the Company, provided such individual is not an officer (“dirigeant
social”) of this Subsidiary, unless he (she) is also an Employee of the Company. 
 (h) “Exercise”
(including derived terms such as Unexercised, Exercisable and Exercisability) shall refer to the purchase or subscription of Shares subject to an Option on the terms and conditions set forth in the applicable Stock Option Agreement. 

(i) “Exercise Price” shall mean the amount for which one Share may be purchased or subscribed for upon Exercise of an
Option, as specified by the Board of Directors in the applicable Stock Option Agreement. 
 (j)
“Fair Market Value” shall mean the fair market value of a Share, as determined by the Board of Directors in accordance with applicable law, in particular articles L225-177, 4th parag. and L225-179 2nd parag. of the French Commercial Code. Such determination shall be conclusive and binding on all persons. 

  
 8 

 (k) “Law” shall mean the provisions of French law enforceable in matter of
stock options (“options de souscription ou d’achat d’actions”) and the provisions of US law applicable to stock options which provisions are not contradictory to the mandatory provisions of French law for same matter to benefit
from the legal status of stock options (“options de souscription ou d’achat d’actions”) under this law. 

(l) “Option” shall mean a right granted under the Plan to purchase or subscribe Shares. 

(m) “Optionee” shall mean a person who holds an Option. 

(n) “Parent” shall mean any corporation (other than the Company) in an unbroken chain of corporations ending with the
Company, if each of the corporations other than the Company owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain. A corporation that attains the status of a
Parent on a date after the adoption of the Plan shall be considered a Parent commencing as of such date. 
 (o)
“Plan” shall mean this Guidewire Software, Inc. 2009 Stock Plan. 
 (p) “Service” shall mean
service as an Employee. 
 (q) “Share” shall mean one share of Stock, as adjusted in accordance with
Section 7 (if applicable). 
 (r) “Stock” shall mean the Common Stock of the Company. 

(s) “Stock Option Agreement” shall mean the written agreement between the Company and an Optionee giving the Optionee
the right to purchase or subscribe for Shares on the terms and conditions, and subject to the restrictions, set forth therein, and shall include all documents attached to and/or referred to in such written agreement including without limitation a
notice of option grant and exercise notice/agreement. 
 (t) “Subsidiary” shall mean any corporation (other
than the Company) in an unbroken chain of corporations beginning with the Company, if each of the corporations other than the last corporation in the unbroken chain owns stock possessing 50% or more of the total combined voting power of all classes
of stock in one of the other corporations in such chain. A corporation that attains the status of a Subsidiary on a date after the adoption of the Plan shall be considered a Subsidiary commencing as of such date. 

(u) “Vesting” (including derived terms such as Vested, Vesting and Unvested) shall refer to the process by which an
Optionee earns the right to Exercise an Option through the satisfaction of conditions, including without limitation time-based Service conditions, set forth in the applicable Stock Option Agreement. 

  
 9 

 GUIDEWIRE SOFTWARE, INC. 2009
STOCK PLAN 
 NOTICE OF STOCK
OPTION GRANT 
 The Optionee has been granted the following option to purchase shares of the Common Stock of
Guidewire Software, Inc.: 
  

			
	Name of Optionee:	  	«Name»
		
	Total Number of Shares:	  	«Total_Shares»
		
	Exercise Price per Share:	  	$«PricePerShare»
		
	Date of Grant:	  	«DateGrant»
		
	Vesting Commencement Date:	  	«VestComDate»
		
	Vesting Schedule:	  	The Optionee shall Vest in the option Shares with respect to the first 25% of the Shares subject to this option when the Optionee completes 12 months of continuous Service after
the Vesting Commencement Date set forth above, and shall Vest as to an additional 1/48th of the Shares subject to this option when the Optionee completes each month of continuous Service thereafter (so that assuming continuous Service throughout such period, the Optionee shall be fully
Vested in the option Shares on the fourth anniversary of the Vesting Commencement Date).
		
	Date Exercisable:	  	This option may be Exercised as to Vested Shares prior to its Expiration Date set forth below only following the fourth anniversary of the Date of Grant set forth above; provided
however that it may become Exercisable as to Vested Shares as of an earlier date if one of the events set forth below under “Expiration Date” occurs prior to such fourth anniversary. In no event may the Optionee Exercise this option as to
any Shares that are Unvested as of the date of Exercise.
		
	Expiration Date:	  	This option shall expire in full to the extent any portion of it remains Unexercised on «ExpDate»; provided that the Expiration Date for this option may occur earlier
than such date if (a) the Optionee’s Service terminates earlier, as provided in Section 6 of the Stock Option Agreement, or (b) in the event of certain transactions contemplated by Section 7 of the Plan.

 By signing below, the Optionee and the Company agree that this option is granted under, and governed by the terms and
conditions of, the 2009 Stock Plan and the Stock Option Agreement. Both of these documents are attached to, and made a part of, this Notice of Stock Option Grant. Section 10 of the Stock Option Agreement includes important restrictions on
the option and the Shares subject to the option and Section 13 includes important acknowledgements of the Optionee, each which are accepted and confirmed by the Optionee’s signature below. 

									
	OPTIONEE:	 		 	GUIDEWIRE SOFTWARE, INC.
				
	 	 		 	By:	 	 
					
		 		 		 	Title:	 	 
		 		 		 		 	

 THE OPTION GRANTED PURSUANT TO THIS AGREEMENT AND THE SHARES ISSUABLE UPON THE EXERCISE THEREOF HAVE NOT
BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, PLEDGED, OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION THEREOF UNDER SUCH ACT OR AN OPINION OF COUNSEL, SATISFACTORY TO THE COMPANY AND ITS COUNSEL, THAT
SUCH REGISTRATION IS NOT REQUIRED. 
 GUIDEWIRE SOFTWARE, INC. 2009
STOCK PLAN: 
 STOCK OPTION AGREEMENT

 SECTION 1. GRANT OF OPTION. 
 (a) Option. On the terms and conditions set forth in the Notice of Stock Option Grant and this Agreement, the Company grants to the Optionee on the Date of Grant the option to purchase or subscribe
for at the Exercise Price the number of Shares set forth in the Notice of Stock Option Grant. 
 (b) Stock Plan and Defined
Terms. This option is granted pursuant to the Plan, a copy of which the Optionee acknowledges having received. The provisions of the Plan are incorporated into this Agreement by this reference. Capitalized terms are defined in Section 14 of
this Agreement. 
 SECTION 2. RIGHT TO EXERCISE. 
 (a) Exercisability. Subject to Subsection (b) below and the other conditions set forth in this Agreement, all or part of this option may be Exercised prior to its Expiration Date at the time
or time, and under the conditions, set forth in the Notice of Stock Option Grant. 
 (b) Stockholder Approval. Any other
provision of this Agreement notwithstanding, no portion of this option shall be Exercisable at any time prior to the approval of the Plan by the Company’s stockholders. 
 SECTION 3. NO TRANSFER OR ASSIGNMENT OF OPTION. 
 Except as otherwise
provided in this Agreement, this option and the rights and privileges conferred hereby shall not be sold, pledged or otherwise transferred (whether by operation of law or otherwise) and shall not be subject to sale under execution, attachment, levy
or similar process. 
 SECTION 4. EXERCISE PROCEDURES. 
 (a) Notice of Exercise. The Optionee or the Optionee’s representative may Exercise this option by giving written notice to the Company pursuant to Section 12(c). The notice shall specify
the election to Exercise this option, the number of Vested Shares for which it 

 
is being Exercised and the form of payment. The person Exercising this option shall sign the notice. In the event that this option is being Exercised by the representative of the Optionee, the
notice shall be accompanied by proof (satisfactory to the Company) of the representative’s right to Exercise this option. The Optionee or the Optionee’s representative shall deliver to the Company, at the time of giving the notice, payment
in a form permissible under Section 5 for the full amount of the Purchase Price. In the event of a partial Exercise of this option, Shares shall be deemed to have been purchased in the order in which they Vest in accordance with the Notice of
Stock Option Grant. 
 (b) Issuance of Shares. After receiving a proper notice of Exercise, the Company shall cause to be
issued one or more certificates evidencing the Shares for which this option has been Exercised. Such Shares shall be registered in the name of the Optionee. In the case of other Shares, the Company shall cause such certificates to be delivered to or
upon the order of the person Exercising this option. 
 (c) Withholding Taxes. In the event that the Company determines
that it is required to withhold any tax as a result of the Exercise of this option, the Optionee, as a condition to the Exercise of this option, shall make arrangements satisfactory to the Company to enable it to satisfy all withholding
requirements. The Optionee shall also make arrangements satisfactory to the Company to enable it to satisfy any withholding requirements that may arise in connection with the Vesting or disposition of Shares purchased or subscribed for by Exercising
this option. 
 SECTION 5. PAYMENT FOR STOCK. 
 (a) Cash. All or part of the Purchase Price may be paid in cash or cash equivalents. 
 (b) Surrender of Stock. At the discretion of the Board of Directors, all or any part of the Purchase Price may be paid by surrendering, or attesting to the ownership of, Shares that are already
owned by the Optionee. Such Shares shall be surrendered to the Company in good form for transfer and shall be valued at their Fair Market Value as of the date when this option is Exercised. 

(c) Exercise/Sale. All or part of the Purchase Price and any withholding taxes may be paid by the delivery (on a form prescribed
by the Company) of an irrevocable direction to a securities broker approved by the Company to sell Shares and to deliver all or part of the sales proceeds to the Company. However, payment pursuant to this Subsection (c) shall be permitted only
if (i) Stock then is publicly traded and (ii) such payment does not violate applicable law. 
 SECTION 6. TERM AND EXPIRATION.

 (a) Basic Term. This option shall in any event expire on the Expiration Date set forth in the Notice of Stock
Option Grant, which date is 10 years after the Date of Grant. 

  
 2 

 (b) Termination of Service (Except by Death). If the Optionee’s Service
terminates for any reason other than death, then this option shall expire on the earliest of the following occasions: 
 (i) The Expiration Date determined pursuant to Subsection (a) above; 
 (ii) The date three months after the termination of the Optionee’s Service for any reason other than Disability or Misconduct; 

(iii) The date of the termination of the Optionee’s Service for Misconduct; or 

(iv) The date six months after the termination of the Optionee’s Service by reason of Disability. 

(c) Subject to the conditions set forth in the Notice of Grant (including the general restriction on Exercisability prior to the fourth
anniversary of the Date of Grant), the Optionee may Exercise all or part of this option at any time before its expiration under the preceding sentence, but only to the extent that this option is Exercisable for Shares that Vested on or before the
date when the Optionee’s Service terminates. When the Optionee’s Service terminates, this option shall expire immediately with respect to the number of Shares for which this option is not yet Vested. 

(d) Death of the Optionee. If the Optionee dies while in Service, or dies after termination of Service but before the expiration
of this option, all or part of this option may be Exercised (prior to expiration) by the executors or administrators of the Optionee’s estate or by any person who has acquired this option directly from the Optionee by beneficiary designation,
bequest or inheritance, but only within six (6) months from the Optionee’s death and only to the extent that this option was Exercisable for Shares that Vested on or before the date when the Optionee’s Service terminated. 

(e) Part-Time Employment and Leaves of Absence. If the Optionee commences working on a part-time basis, then the Company may
adjust the Vesting schedule set forth in the Notice of Stock Option Grant in accordance with the Company’s part-time work policy or the terms of an agreement between the Optionee and the Company pertaining to his or her part-time schedule. If
the Optionee goes on a leave of absence, then the Company may adjust the Vesting schedule set forth in the Notice of Stock Option Grant in accordance with the Company’s leave of absence policy or the terms of such leave. Except as provided in
the preceding sentence, Service shall be deemed to continue for any purpose under this Agreement while the Optionee is on a bona fide leave of absence, if (i) such leave was approved by the Company in writing and (ii) continued
crediting of Service for such purpose is expressly required by the terms of such leave or by applicable law (as determined by the Company). Service shall be deemed to terminate when such leave ends, unless the Optionee immediately returns to active
work. 

  
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 SECTION 7. RIGHT OF FIRST REFUSAL. 

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

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

(c) Additional or Exchanged Securities and Property. In the event of a merger or consolidation of the Company with or into another
entity, any other corporate reorganization, a stock split, the declaration of a stock dividend, the declaration of an extraordinary dividend payable in a form other than stock, a spin-off, an adjustment in conversion ratio, a recapitalization or a
similar transaction affecting the Company’s outstanding securities, any securities or other property (including cash or cash equivalents) that are by reason of such transaction exchanged for, or distributed with respect to, any Shares subject
to this Section 7 shall immediately be subject to the Right of First Refusal. Appropriate adjustments to reflect the exchange or distribution of such securities or property shall be made to the number and/or class of the Shares subject to this
Section 7. 

  
 4 

 (d) Termination of Right of First Refusal. Any other provision of this Section 7
notwithstanding, in the event that the Stock is readily tradable on an established securities market when the Optionee desires to transfer Shares, the Company shall have no Right of First Refusal, and the Optionee shall have no obligation to comply
with the procedures prescribed by Subsections (a) and (b) above. 
 (e) Permitted Transfers. This
Section 7 shall not apply to (i) a transfer by beneficiary designation, will or intestate succession or (ii) a transfer to one or more members of the Optionee’s Immediate Family or to a trust established by the Optionee for the
benefit of the Optionee and/or one or more members of the Optionee’s Immediate Family, provided in either case that the Transferee agrees in writing on a form prescribed by the Company to be bound by all provisions of this Agreement. If the
Optionee transfers any Shares acquired under this Agreement, either under this Subsection (e) or after the Company has failed to exercise the Right of First Refusal, then this Agreement shall apply to the Transferee to the same extent as to the
Optionee. 
 (f) Termination of Rights as Stockholder. If the Company makes available, at the time and place and in the
amount and form provided in this Agreement, the consideration for the Shares to be purchased in accordance with this Section 7, then after such time the person from whom such Shares are to be purchased shall no longer have any rights as a
holder of such Shares (other than the right to receive payment of such consideration in accordance with this Agreement). Such Shares shall be deemed to have been purchased in accordance with the applicable provisions hereof, whether or not the
certificate(s) therefor have been delivered as required by this Agreement. 
 (g) Assignment of Right of First Refusal.
The Board of Directors may freely assign the Company’s Right of First Refusal, in whole or in part. Any person who accepts an assignment of the Right of First Refusal from the Company shall assume all of the Company’s rights and
obligations under this Section 7. 
 SECTION 8. LEGALITY OF INITIAL ISSUANCE. 

In addition to certain restrictions set forth in Section 10 below, no Shares shall be issued upon the Exercise of this option unless
and until the Company has determined that: 
 (a) It and the Optionee have taken any actions required to register
the Shares under the Securities Act, applicable French securities laws or to perfect an exemption from the registration requirements thereof; 
 (b) Any applicable listing requirement of any stock exchange or other securities market on which Stock is listed has been satisfied; and 

(c) Any other applicable provision of federal, State or foreign law has been satisfied. 

  
 5 

 SECTION 9. NO REGISTRATION RIGHTS. 

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

SECTION 10. RESTRICTIONS ON OPTION AND OPTION SHARES. 
 (a) Securities Law Restrictions. Regardless of whether the offering and sale of Shares under the Plan have been registered under the Securities Act, applicable French securities laws or have been
registered or qualified under the securities laws of any State or other relevant jurisdiction, the Company at its discretion may impose restrictions upon the sale, pledge or other transfer of such Shares (including the placement of appropriate
legends on stock certificates or the imposition of stop-transfer instructions) if, in the judgment of the Company, such restrictions are necessary or desirable in order to achieve compliance with the Securities Act, applicable French securities
laws, the securities laws of any State or other relevant jurisdiction, or any other law. The Company will refuse to transfer the Shares upon Exercise thereof, or upon subsequent transfer, if the Exercise or other transfer is not in compliance with
applicable securities laws, including Regulation S of the Act, pursuant to registration under the Act or pursuant to an available exemption from registration. The Company may require the Optionee or a transferee of the Shares issued on Exercise of
the option to deliver an opinion of counsel confirming that the issuance or transfer of the Shares are exempt from registration under the Act. 
 (b) Market Stand-Off. In connection with any underwritten public offering by the Company of its equity securities pursuant to an effective registration statement filed under the Securities Act or
the laws of any other jurisdiction, including the Company’s initial public offering, the Optionee or a Transferee shall not directly or indirectly sell, make any short sale of, loan, hypothecate, pledge, offer, grant or sell any option or other
contract for the purchase of, purchase any option or other contract for the sale of, or otherwise dispose of or transfer, or agree to engage in any of the foregoing transactions with respect to, any Shares acquired under this Agreement without the
prior written consent of the Company or its managing underwriter. Such restriction (the “Market Stand-Off”) shall be in effect for such period of time following the date of the final prospectus for the offering as may be requested by the
Company or such underwriter. In no event, however, shall such period exceed 180 days plus such additional period as may reasonably be requested by the Company or such underwriter to accommodate regulatory restrictions on (i) the publication or
other distribution of research reports or (ii) analyst recommendations and opinions, including (without limitation) the restrictions set forth in Rule 2711(f)(4) of the National Association of Securities Dealers and Rule 472(f)(4) of
the New York Stock Exchange, as amended, or any similar successor rules. The Market Stand-Off shall in any event terminate two years after the date of the Company’s initial public offering. In the event of the declaration of a stock dividend, a
spin-off, a stock split, an adjustment in conversion ratio, a recapitalization or a similar transaction affecting the Company’s outstanding securities without receipt of consideration, any new, substituted or additional securities which are by
reason of such transaction distributed with respect to any Shares subject to the Market Stand-Off, or into which such Shares thereby become convertible, shall immediately be subject to the 

  
 6 

 
Market Stand-Off. In order to enforce the Market Stand-Off, the Company may impose stop-transfer instructions with respect to the Shares acquired under this Agreement until the end of the
applicable stand-off period. The Company’s underwriters shall be beneficiaries of the agreement set forth in this Subsection (b). This Subsection (b) shall not apply to Shares registered in the public offering under the Securities
Act. 
 (c) Investment Intent at Grant. The Optionee represents and agrees that the Shares to be acquired upon Exercising
this option will be acquired for investment, and not with a view to the sale or distribution thereof. The Optionee represents and agrees that he or she is not at the time of grant of this option a U.S. Person and is not acquiring the option on
behalf, or for the account or benefit, of a U.S. Person. The Optionee further represents that this option was not granted to me while he or she was in the United States. 
 (d) Investment Intent at Exercise. In the event that the sale of Shares under the Plan is not registered under the Securities Act but an exemption is available that requires an investment
representation or other representation, the Optionee shall represent and agree at the time of Exercise that the Shares being acquired upon Exercising this option are being acquired for investment, and not with a view to the sale or distribution
thereof, and shall make such other representations as are deemed necessary or appropriate by the Company and its counsel, including that as of the date of Exercise the Optionee is not a U.S. Person; is not acquiring the Shares on behalf, or for the
account or benefit, of a U.S. Person; and is not Exercising the option in the United States. 
 (e) Legends. All
certificates evidencing Shares purchased or subscribed for under this Agreement shall bear the following legend: 
 “THE
SHARES REPRESENTED HEREBY MAY NOT BE SOLD, ASSIGNED, TRANSFERRED, ENCUMBERED OR IN ANY MANNER DISPOSED OF, EXCEPT IN COMPLIANCE WITH THE TERMS OF A WRITTEN AGREEMENT BETWEEN THE COMPANY AND THE REGISTERED HOLDER OF THE SHARES (OR THE PREDECESSOR IN
INTEREST TO THE SHARES). SUCH AGREEMENT GRANTS TO THE COMPANY CERTAIN RIGHTS OF FIRST REFUSAL UPON AN ATTEMPTED TRANSFER OF THE SHARES. THE SECRETARY OF THE COMPANY WILL UPON WRITTEN REQUEST FURNISH A COPY OF SUCH AGREEMENT TO THE HOLDER HEREOF
WITHOUT CHARGE.” 
 All certificates evidencing Shares purchased or subscribed for under this Agreement in an unregistered transaction
shall bear the following legend (and such other restrictive legends as are required or deemed advisable under the provisions of any applicable law): 
 “THE SHARES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR ANY STATE SECURITIES LAWS AND ARE BEING OFFERED AND SOLD ONLY PURSUANT
TO OFFERS AND SALES THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE ACT. THESE SHARES MAY NOT BE SOLD, REOFFERED, PLEDGED, 

  
 7 

 
ASSIGNED, ENCUMBERED, OR OTHERWISE TRANSFERRED OR DISPOSED OF WITHOUT AN EFFECTIVE REGISTRATION THEREOF UNDER SUCH ACT OR AN OPINION OF COUNSEL, SATISFACTORY TO THE COMPANY AND ITS COUNSEL, THAT
SUCH REGISTRATION IS NOT REQUIRED. IN THE ABSENCE OF REGISTRATION OR THE AVAILABILITY (CONFIRMED BY OPINION OF COUNSEL) OF AN ALTERNATIVE EXEMPTION FROM REGISTRATION UNDER THE ACT, THESE SHARES MAY NOT BE SOLD, REOFFERED, PLEDGED, ASSIGNED,
ENCUMBERED, OR OTHERWISE TRANSFERRED OR DISPOSED OF EXCEPT IN ACCORDANCE WITH REGULATION S (RULES 901 THROUGH 905 AND PRELIMINARY NOTES) OF THE ACT. HEDGING TRANSACTIONS INVOLVING THESE SHARES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE ACT.

 (f) Removal of Legends. If, in the opinion of the Company and its counsel, any legend placed on a stock certificate
representing Shares sold under this Agreement is no longer required, the holder of such certificate shall be entitled to exchange such certificate for a certificate representing the same number of Shares but without such legend. 

(g) Administration. Any determination by the Company and its counsel in connection with any of the matters set forth in this
Section 10 shall be conclusive and binding on the Optionee and all other persons. 
 SECTION 11. ADJUSTMENT OF SHARES. 

In the event of any transaction described in Section 7(a) of the Plan, the terms of this option (including, without limitation, the
number and kind of Shares subject to this option and the Exercise Price) shall be adjusted as set forth in Section 7(a) of the Plan. In the event that the Company is a party to a merger or consolidation, this option shall be subject to the
agreement of merger or consolidation, as provided in Section 7(b) of the Plan. 
 SECTION 12. MISCELLANEOUS PROVISIONS. 

(a) Rights as a Stockholder. Neither the Optionee nor the Optionee’s representative shall have any rights as a stockholder
with respect to any Shares subject to this option until the Optionee or the Optionee’s representative becomes entitled to receive such Shares by filing a notice of Exercise and paying the Purchase Price pursuant to Sections 4 and 5.

 (b) No Retention Rights. Nothing in this option or in the Plan shall confer upon the Optionee any right to continue in
Service for any period of specific duration or interfere with or otherwise restrict in any way the rights of the Company (or any Parent or Subsidiary employing or retaining the Optionee) or of the Optionee, which rights are hereby expressly reserved
by each, to terminate his or her Service at any time and for any reason, with or without cause. 
 (c) Notice. Any notice
required by the terms of this Agreement shall be given in writing. It shall be deemed effective upon (i) personal delivery, (ii) deposit with the United States Postal Service or equivalent service in France, by registered or certified
mail, with postage 

  
 8 

 
and fees prepaid or (iii) deposit with Federal Express Corporation (or other overnight courier service approved by the Company), with shipping charges prepaid. Notice shall be addressed to
the Company at its principal executive office and to the Optionee at the address that he or she most recently provided to the Company in accordance with this Subsection (c). 

(d) Entire Agreement. The Notice of Stock Option Grant, this Agreement and the Plan constitute the entire contract between the
parties hereto with regard to the subject matter hereof. They supersede any other agreements, representations or understandings (whether oral or written and whether express or implied) that relate to the subject matter hereof. 

(e) Choice of Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware, as
such laws are applied to contracts entered into and performed in such State. 
 SECTION 13. ACKNOWLEDGEMENTS OF THE OPTIONEE. 

(a) Tax Consequences. The Optionee agrees that the Company does not have a duty to design or administer the Plan or its other
compensation programs in a manner that minimizes the Optionee’s tax liabilities. The Optionee shall not make any claim against the Company or its Board of Directors, officers or employees related to tax liabilities arising from this option or
the Optionee’s other compensation. Since Shares are not traded on an established securities market as of the Date of Grant of this option, the determination of their Fair Market Value is made by the Board of Directors or by an independent
valuation firm retained by the Company. The Optionee acknowledges that there is no guarantee in either case that the Internal Revenue Service or the French tax authorities will agree with the valuation, and the Optionee shall not make any claim
against the Company or its Board of Directors, officers or employees in the event that the Internal Revenue Service or the French tax authorities assert that the valuation was too low. 

The Optionee is solely responsible for taking all appropriate legal advice, notably concerning US and French tax regulations, when
signing this Agreement, and when thereafter Exercising the option, or sale the Shares acquired under this Agreement or more generally when taking any decision in relation with this option, this Agreement or otherwise under the Plan. The Company does
not represent or guaranty that the Optionee may benefit from specific provisions under said regulations and the Optionee shall on his or her own efforts receive proper information in this respect. 

(b) Electronic Delivery of Documents. The Optionee agrees that the Company may deliver by email all documents relating to the Plan
or this option (including, without limitation, a copy of the Plan) and all other documents that the Company is required to deliver to its security holders (including, without limitation, disclosures that may be required by the Securities and
Exchange Commission). The Optionee also agrees that the Company may deliver these documents by posting them on a website maintained by the Company or by a third party under contract with the Company. If the Company posts these documents on a
website, it shall notify the Optionee by email. 

  
 9 

 SECTION 14. DEFINITIONS. 
 (a) The “Act” shall mean the U.S. Securities Act of 1933, as amended. 
 (b) “Agreement” shall mean this Stock Option Agreement. 
 (c)
“Board of Directors” shall mean the Board of Directors of the Company, as constituted from time to time or, if a Committee has been appointed, such Committee. 
 (d) “Code” shall mean the Internal Revenue Code of 1986, as amended. 
 (e) “Committee” shall mean a committee of the Board of Directors, as described in Section 2 of the Plan. 
 (f) “Company” shall mean Guidewire Software, Inc., a Delaware corporation. 
 (g) “Consultant” shall mean a person who performs bona fide services for the Company, a Parent or a Subsidiary as a consultant or advisor, excluding Employees and Outside Directors.

 (h) “Date of Grant” shall mean the date of grant specified in the Notice of Stock Option Grant, which date
shall be the later of (i) the date on which the Board of Directors resolved to grant this option or (ii) the first day of the Optionee’s Service. 
 (i) “Disability” shall mean that the Optionee is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment. 

(j) “Employee” shall mean any individual who is a common-law employee of Guidewire Software France SAS, a French company
having its registered office 43 rue Taitbout 75009 PARIS France and which is a Subsidiary of the Company, provided such individual is not an officer (“dirigeant social”) of this Subsidiary, unless he (she) is also a common-law employee of
the Company. 
 (k) “Exercise” (including derived terms such as Unexercised, Exercisable and Exercisability)
shall refer to the purchase of or subscription for Shares subject to the option on the terms and conditions set forth in this Stock Option Agreement. 
 (l) “Exercise Price” shall mean the amount for which one Share may be purchased or subscribed for upon Exercise of this option, as specified in the Notice of Stock Option Grant.

 (m) “Fair Market Value” shall mean the fair market value of a Share, as determined by
the Board of Directors in accordance with applicable law, in particular articles L225-177, 4th parag. and L225-179 2nd parag. of the French Commercial Code. Such determination shall be conclusive and binding on all persons. 

  
 10 

 (n) “Immediate Family” shall mean any child, stepchild, grandchild, parent,
stepparent, grandparent, spouse, sibling, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law or sister-in-law and shall include adoptive relationships. 
 (o) “Misconduct” shall mean the commission of any act of fraud, embezzlement or dishonesty by Optionee, any unauthorized use or disclosure by Optionee of confidential information or trade
secrets of the Company (or any Parent or Subsidiary), or any other intentional misconduct by Optionee adversely affecting the business or affairs of the Company (or any Parent or Subsidiary) in a material manner. The foregoing definition shall not
in any way preclude or restrict the right of the Company (or any Parent or Subsidiary) to discharge or dismiss Optionee or any other person in the Service of the Company (or any Parent or Subsidiary) for any other acts or omissions, but such other
acts or omissions shall not be deemed, for purposes of the Plan or this Agreement, to constitute grounds for termination for Misconduct. 
 (p) “Notice of Stock Option Grant” shall mean the document so entitled to which this Agreement is attached. 
 (q) “Optionee” shall mean the person named in the Notice of Stock Option Grant. 
 (r) “Outside Director” shall mean a member of the Board of Directors who is not an Employee. 
 (s) “Parent” shall mean any corporation (other than the Company) in an unbroken chain of corporations ending with the Company, if each of the corporations other than the Company owns
stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain. 
 (t) “Plan” shall mean the Guidewire Software, Inc. 2009 Stock Plan, as in effect on the Date of Grant. 
 (u) “Purchase Price” shall mean the Exercise Price multiplied by the number of Shares with respect to which this option is being Exercised. 

(v) “Right of First Refusal” shall mean the Company’s right of first refusal described in Section 7.

 (w) “Securities Act” shall mean the Securities Act of 1933, as amended. 

(x) “Service” shall mean service as an Employee, Outside Director or Consultant. 

(y) “Share” shall mean one share of Stock, as adjusted in accordance with Section 7 of the Plan (if applicable).

 (z) “Stock” shall mean the Common Stock of the Company. 

  
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 (aa) “Subsidiary” shall mean any corporation (other than the Company) in an
unbroken chain of corporations beginning with the Company, if each of the corporations other than the last corporation in the unbroken chain owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the
other corporations in such chain. 
 (bb) “Transferee” shall mean any person to whom the Optionee has directly
or indirectly transferred any Share acquired under this Agreement. 
 (cc) “Transfer Notice” shall mean the
notice of a proposed transfer of Shares described in Section 7. 
 (dd) “U.S. Person” shall have the
meaning set forth in Rule 902(k) of Regulation S of the Act (or any successor rule or provision), which generally defines a U.S. Person as any natural person resident in the United States, any estate of which any executor or administrator is a U.S.
Person, or any trust of which any trustee is a U.S. Person. 
 (ee) “Vesting” (including derived terms such as
Vested, Vesting and Unvested) shall refer to the process by which the Optionee earns the right to Exercise the option through the satisfaction of the time-based Service conditions set forth in the Notice of Stock Option Grant. 

  
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