Document:

Deferred Compensation Plan

 Exhibit 10.8 
 SVB Financial Group 
 Deferred Compensation Plan 

Plan Document 
 Amended April 25,
2012 

 TABLE OF CONTENTS 
 PURPOSES 
  

							
	ARTICLE 1 - DEFINITIONS	  	 	1	  
	 1.1
	 	Account	  	 	1	  
	 1.2
	 	Administrator	  	 	1	  
	 1.3
	 	Base Pay	  	 	1	  
	 1.4
	 	Beneficiary	  	 	1	  
	 1.5
	 	Board	  	 	1	  
	 1.6
	 	Bonus	  	 	1	  
	 1.7
	 	Code	  	 	1	  
	 1.8
	 	Compensation	  	 	1	  
	 1.9
	 	Deferral Election	  	 	1	  
	 1.10
	 	Eligible Employee	  	 	2	  
	 1.11
	 	Employer	  	 	2	  
	 1.12
	 	ERISA	  	 	2	  
	 1.13
	 	Participant	  	 	2	  
	 1.14
	 	Plan	  	 	2	  
	 1.15
	 	Plan Sponsor	  	 	2	  
	 1.16
	 	Plan Year	  	 	2	  
	 1.17
	 	Separation from Service	  	 	2	  
	 1.18
	 	Specified Employee	  	 	2	  
	 1.19
	 	Special Retention Incentives	  	 	2	  
	 1.20
	 	SVB Controlled Group	  	 	2	  
	 1.21
	 	Valuation Date	  	 	2	  
		
	 ARTICLE 2 - PARTICIPATION
	  	 	3	  
	 2.1
	 	Participation	  	 	3	  
	 2.2
	 	Termination of Participation	  	 	3	  
	 2.3
	 	Other Termination of Employment	  	 	3	  
		
	 ARTICLE 3 - DEFERRAL ELECTIONS
	  	 	4	  
	 3.1
	 	Deferral Election	  	 	4	  
	 3.2
	 	Election to Defer Base Pay	  	 	4	  
	 3.3
	 	Election to Defer Bonus	  	 	4	  
	 3.4
	 	Special Retention Incentives	  	 	4	  
	 3.5
	 	Timing of Election to Defer	  	 	4	  
	 3.6
	 	Election of Payment Schedule and Form of Payment	  	 	5	  
		
	 ARTICLE 4 - PARTICIPANT ACCOUNT
	  	 	6	  
	 4.1
	 	Individual Accounts	  	 	6	  
		
	 ARTICLE 5 - INVESTMENT OF CONTRIBUTIONS
	  	 	7	  

							
	 5.1 
	 	Investment Options	  	 	7	  
	 5.2 
	 	Adjustment of Accounts	  	 	7	  
		
	 ARTICLE 6 - RIGHT TO BENEFITS
	  	 	8	  
	 6.1 
	 	Vesting	  	 	8	  
	 6.1.1
	 	Vesting for Voluntary Deferral	  	 	8	  
	 6.1.2
	 	Vesting for Special Retention Incentives	  	 	8	  
	 6.2 
	 	Death	  	 	8	  
		
	 ARTICLE 7 - DISTRIBUTION OF BENEFITS
	  	 	9	  
	 7.1 
	 	Amount of Benefits	  	 	9	  
	 7.2 
	 	Method and Timing of Distributions	  	 	9	  
	 7.2.1
	 	Method and Timing of Distributions for Voluntary Elected Deferral	  	 	9	  
	 7.2.2
	 	Method and Timing of Distributions for Special Retention Incentive	  	 	9	  
	 7.3 
	 	Cash outs of Amounts Not Exceeding $10,000	  	 	9	  
		
	 ARTICLE 8 - AMENDMENT AND TERMINATION
	  	 	10	  
	 8.1 
	 	Amendment by Employer	  	 	10	  
	 8.2 
	 	Retroactive Amendments	  	 	10	  
	 8.3 
	 	Plan Termination	  	 	10	  
	 8.4 
	 	Distribution Upon Termination of the Plan	  	 	10	  
		
	 ARTICLE 9 - THE TRUST
	  	 	11	  
	 9.1 
	 	Establishment of Trust	  	 	11	  
	 9.2 
	 	Grantor Trust	  	 	11	  
	 9.3 
	 	Investment of Trust Funds	  	 	11	  
		
	 ARTICLE 10 - MISCELLANEOUS
	  	 	12	  
	 10.1 
	 	Acceleration of Payments Permitted Under Code Section 409A	  	 	12	  
	 10.2 
	 	Unsecured General Creditor of the Employer	  	 	12	  
	 10.3 
	 	Employer’s Liability	  	 	12	  
	 10.4 
	 	Limitation of Rights	  	 	12	  
	 10.5 
	 	Alienation of Benefits	  	 	12	  
	 10.6 
	 	Facility of Payment	  	 	13	  
	 10.7 
	 	Notices	  	 	13	  
	 10.8 
	 	Tax Withholding	  	 	13	  
	 10.9 
	 	Indemnification	  	 	14	  
	 10.10
	 	Governing Law	  	 	14	  
	 10.11
	 	Compliance with Section 111 of EESA	  			
		
	 ARTICLE 11 - PLAN ADMINISTRATION
	  	 	14	  
	 11.1 
	 	Powers and Responsibilities of the Administrator	  	 	14	  
	 11.2 
	 	Claims and Review Procedures	  	 	15	  
	 11.3 
	 	Plan Administrative Costs	  	 	16	  
		
	 APPENDIX A INVESTMENT OPTIONS
	  	 	i	  

 PURPOSES 
 The purposes of the SVB Financial Group Deferred Compensation Plan (the “Plan”) are (a) to permit eligible employees to elect to defer receipt of compensation which would otherwise be
payable to them currently as annual base pay or bonuses and (b) to provide investment alternatives for voluntary and mandatory deferred compensation. The Plan is intended to be a “plan which is unfunded and is maintained by an employer
primarily for the purpose of providing deferred compensation for a select group of management or highly compensated employees” within the meaning of Sections 201(2), 301(a)(3) and 401(a)(1) of ERISA and shall be implemented and administered in
a manner consistent therewith. The Plan also is intended to comply with Section 409A of the Internal Revenue Code. 

 ARTICLE 1 – DEFINITIONS 
 Pronouns used in this Plan include the genders unless context clearly indicates otherwise. Wherever used herein, the following terms have the meanings set forth below, unless context clearly requires a
different meaning: 
  

	1.1	“Account” means an account established for the purpose of recording amounts credited on behalf of a Participant and any income, expenses, gains, losses
or distributions included thereon. The Account shall be a bookkeeping entry only and shall be utilized solely as a device for the measurement and determination of the amounts to be paid to a Participant pursuant to the Plan.

  

	1.2	“Administrator” means the Employer, or such other person or persons designated by the Employer to be responsible for the administration of the Plan.

  

	1.3	“Base Pay” means the basic or regular rate of per payroll period remuneration paid to the Participant by the Employer. 

 

	1.4	“Beneficiary” means the persons, trusts, estates or other entitities entitled under Section 6.2 to receive benefits under the Plan upon the death
of a Participant. 

  

	1.5	“Board” means the Compensation Committee of Board of Directors of the Plan Sponsor. 

 

	1.6	“Bonus” means a bonus earned by an Eligible Employee during the Plan Year for services rendered to Employer as determined by the Administrator and
payable no later than March 31 of the following Plan Year and does not include unearned income such as spot bonuses, business referrals, new employee referrals, sign-on, or relocation awards. 

 

	1.7	“Code” means the Internal Revenue Code of 1986, as amended from time to time. 

 

	1.8	“Compensation” means Base Pay and Bonus earned by an Eligible Employee during the Plan Year for services rendered to Employer as determined by the
Administrator and payable no later than March 31 of the following Plan Year. 

  

	1.9	“Deferral Election” means an election an Eligible Employee makes as provided by Section 3.1. 

  
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	1.10	“Eligible Employee” means an employee that Employer (a) determines to be a member of a select group of management or highly compensated employees
within the meaning of Sections 201(2), 301(a)(3) and 401(a)(1) of ERISA and (b) designates as an Eligible Employee for purposes of this Plan. 

  

	1.11	“Employer” means SVB Financial Group and all other members of SVB Controlled Group that it designates to participate in this Plan.

  

	1.12	“ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time. 

 

	1.13	“Participant” means any Eligible Employee who participates in the Plan in accordance with Article 2. 

 

	1.14	“Plan” means this SVB Financial Group Deferred Compensation Plan as set forth herein and as it may be amended from time to time.

  

	1.15	“Plan Sponsor” means SVB Financial Group. 

  

	1.16	“Plan Year” means the Calendar Year. 

  

	1.17	“Separation from Service” means a Participant’s death, retirement, or other termination of employment with the SVB Controlled Group. The
determination of whether a Participant has terminated employment shall be determined based on the facts and circumstances in accordance with the rules set forth in Code Section 409A and the regulations thereunder. 

 

	1.18	“Special Retention Incentives” means retention incentives offered to selected key Participants as provided in Section 3.4.

  

	1.19	“Specified Employee” means a Participant who is identified as a “specified employee” as of the date of his Separation from Service in
accordance with the requirements of Treasury Regulation section 1.409A-1(i). 

  

	1.20	“SVB Controlled Group” means the Employers and any corporation which is a member of a controlled group of corporations (as defined in Code
Section 414(b)) which includes an Employer and any trade or business (whether or not incorporated) which is under common control (as defined in Code Section 414(c) with an Employer. 

 

	1.21	“Total Disability” means total disability as determined by the Social Security Administration or other disability that complies with the requirements
of Treasury Regulations section 1.409A-3(i)(4). 

  

	1.22	“Valuation Date” means each business day of the Plan Year and such other date(s) as Employer designates. 

  
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 ARTICLE 2 – PARTICIPATION 

 

	2.1	Participation. Each Eligible Employee shall become a Participant in the Plan by executing a Deferral Election in accordance with the provisions of Article 3 or
by being designated as a Participant in a Special Retention Incentive. 

  

	2.2	Termination of Participation. A Participant’s participation in the Plan shall cease upon his termination of service with the Employer for any reason or his
ceasing to qualify as an Eligible Employee. Upon any termination of participation, a Participant’s deferrals shall cease but the provisions of Section 7.2 shall continue to apply. 

 

	2.3	Other Termination of Employment. If the Participant’s employment is terminated prior to the end of a Special Retention Incentive Vesting Period for any
reason other than death or Total Disability, the Participant will forfeit all rights to payment under this Plan. 

  
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 ARTICLE 3 – DEFERRAL ELECTIONS 

 

	3.1	Deferral Election. Each Eligible Employee may elect to defer Compensation payable to him currently for the Plan Year by executing a Deferral Election in
accordance with rules and procedures established by the Administrator and the provisions of this Article 3. The Deferral Election must separately specify for each type of Compensation (i.e., Base Pay and Bonus) the whole number percentage multiple
that the Participant elects to defer and the timing and form of payment of the deferred amount. 

 A new Deferral
Election must be timely executed for each Plan Year during which the Eligible Employee elects to defer compensation. An Eligible Employee who does not timely execute a Deferral Election shall be deemed to have elected zero deferrals for such Plan
Year. 
 The Administrator shall specify a period, ending no later than the business day preceding the Plan Year, during which
Deferral Elections may be made as to a Plan Year. Each Deferral Election becomes irrevocable at the close of the specified period. 
  

	3.2	Election to Defer Base Pay. An Eligible Employee may elect to defer Base Pay for a Plan Year in any amount (in 1% increments) from 5% to 50% of Base Pay.

  

	3.3	Election to Defer Bonus. An Eligible Employee may elect to defer (in 1% increments) from 5% to 100% of his Bonus for a Plan Year. 

 

	3.4	Special Retention Incentives. From time to time during the Plan Year, the Administrator, in its sole discretion, shall designate Special Retention Incentives to
key employees as eligible for investment in this plan during the retention qualifying period. 

  

	3.5	Timing of Election to Defer. Each Eligible Employee who desires to defer Base Pay otherwise payable during a Plan Year must execute a Deferral Election within
the period preceding the Plan Year specified by the Administrator. Each Eligible Employee who desires to defer a Bonus must execute a Deferral Election within the period preceding the Plan Year during which the Bonus is earned that is specified by
the Administrator, except that if the Bonus can be treated as “performance based compensation which is based upon services performed over a period of at least twelve months” as described in Section 409A(a)(4)(B)(iii) and Treasury
Regulations promulgated thereunder, such Deferral Election must be executed no later than the date which is six months before the end of the performance period in which the Bonus is earned. 

  
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 In the case of the first Plan Year in which an Employee first becomes classified or
designated as an Eligible Employee, if and to the extent permitted by the Administrator, the individual may make an election no later than thirty (30) days after the date he or she becomes an Eligible Employee to defer Base Pay and/or Bonus (as
applicable) for services to be performed after the election. An election will be deemed to apply to Bonus for services performed after the election if the election applies to no more than an amount equal to the total Bonus for the performance period
multiplied by the ratio of the number of days remaining in the performance period after the election over the total number of days in the performance period. This paragraph will not apply to an Employee who is a participant in any other account
balance deferred compensation plans maintained by any member of the SVB Controlled Group which is required to be aggregated with this Plan under Code Section 409A. 
  

	3.6	Election of Payment Schedule and Form of Payment. At the time an Eligible Employee completes a Deferral Election, the Eligible Employee must separately elect for
each type of Compensation being deferred (i.e., for Base Pay and Bonus). 

 A Participant must designate on the
Deferral Election the year that distribution from the Participant’s Account shall be made. The year must be at least three years after the first day of the Plan Year during which the Deferral Election is effective. 

A Participant must elect to receive distribution of the Participant’s Deferral Accounts in either a single lump sum in cash or in
annual cash installments over a period of up to ten years. 
 Subject to section 7.2, distribution shall commence no earlier than
six months following the date of a Participant’s Separation from Service. 

  
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 ARTICLE 4 – PARTICIPANT ACCOUNT 

 

	4.1	Individual Accounts. The Administrator will establish and maintain a bookkeeping Account for each Participant which will reflect deferrals made pursuant to
Article 3 along with earnings, expenses, gains and losses credited thereto, attributable to the hypothetical investments made with the amounts in the Participant’s Account as provided in Article 5. The amount a Participant elects to defer in
accordance with Article 3 shall be credited to the Participant’s Account at the time the amount subject to the deferral election would otherwise have been payable to the Participant but for his election to defer. The Administrator will
establish and maintain such other accounts and records as it decides in its discretion to be reasonably required or appropriate to discharge its duties under the Plan. 

  
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 ARTICLE 5 – INVESTMENT OF CONTRIBUTIONS 

 

	5.1	Investment Options. The amount in a Participant’s Account shall be treated as invested in the investment options designated for this purpose by the
Administrator and set forth in Appendix A. 

  

	5.2	Adjustment of Accounts. The amount in a Participant’s Account shall be adjusted for hypothetical investment earnings or losses in an amount equivalent to
the gains or losses reported by the investment options selected by the Participant or Beneficiary from among the investment options provided in Section 5.1. A Participant may, in accordance with rules and procedures established by the
Administrator, change the investments to be used for the purpose of calculating future hypothetical investment adjustments to the Participant’s Account or to future Participant deferrals effective as of the Valuation Date coincident with or
next following notice to the Administrator. The Account of each Participant shall be adjusted as of each Valuation Date to reflect: (a) the hypothetical investment earnings and/or losses described above; (b) Participant deferrals; and
(c) distributions or withdrawals from the Account. 

  
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 ARTICLE 6 – RIGHT TO BENEFITS 

 

	6.1	Vesting 

  

	6.1.1	Vesting for Voluntary Elected Deferral Amounts. Except as provided in Section 6.1.2, Participant, at all times, has a 100% nonforfeitable interest in
voluntary elected deferral amounts credited to his Account. 

  

	6.1.2	Vesting for Special Retention Incentives. These awards are subject to time-based vesting requirements (and other vesting requirements as the Administrator may
determine from time to time) based on the following schedule: 

  

					
	 Vesting Period
	 	  	  	 Retention Incentive to Salary Multiple

	3 years	 		  	Less than or equal to one times annual salary
			
	4 years	 		  	Greater than one times annual salary and less than or equal to two times annual salary
			
	5 years	 		  	Greater than two times annual salary

  

	6.2	Death. The balance or remaining balance credited to a Participant’s Account shall be paid to his Beneficiary in a single lump sum payment as soon as
practicable following the date of death. If multiple Beneficiaries have been designated, each Beneficiary shall receive a single lump sum payment of his specified portion of the Account as soon as practicable following the date of death.

 A Participant may designate a Beneficiary or Beneficiaries, or change any prior designation of Beneficiary or
Beneficiaries in accordance with rules and procedures established by the Administrator. 
 A copy of the death notice or other
sufficient documentation must be filed with and approved by the Administrator. If upon the death of the Participant there is, in the opinion of the Administrator, no designated Beneficiary for part or all of the Participant’s Account, such
amount will be 

  
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paid to his estate (such estate shall be deemed to be the Beneficiary for purposes of the Plan) in a single lump sum payment. 
 ARTICLE 7 – DISTRIBUTION OF BENEFITS 
  

	7.1	Amount of Benefits. The amount credited to a Participant’s Account as determined under Articles 4 and 6 shall determine and constitute the basis for the
value of benefits payable to the Participant under the Plan. 

  

	7.2	Method and Timing of Distributions. 

  

	7.2.1	Method and Timing of Distributions for Voluntary Deferral. Subject to Section 7.3, distributions for voluntary elected deferral amounts under the Plan will
occur in the month following the end of the Plan Year and shall be made at the time and in the manner specified by the Participant in accordance with the provisions of Article 3. In all events, distribution shall commence no earlier than six months
following the date of a Participant’s Separation from Service. 

  

	7.2.2	Method and Timing of Distributions for Special Retention Incentives. Distributions for Special Retention Incentive will occur as soon as administratively
feasible following the vesting date specified by the Administrator, but in no event more than 60 days. 

  

	7.3	Cashouts Of Amounts Not Exceeding $10,000. If the amount credited to the Participant’s Account does not exceed $10,000 at the time he separates from service
with the Employer for any reason, the Employer shall pay such amount to the Participant in a single lump sum payment as soon as practicable following such termination or cessation of service regardless of whether the Participant had made different
elections of time or form of payment as to the amount credited to his Account or whether the Participant was receiving installments at the time of such termination. A distribution made to a Specified Employee shall not be made before the date that
is six months after the date of his Separation from Service. 

  
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 ARTICLE 8 – AMENDMENT AND TERMINATION 

 

	8.1	Amendment by Employer. The Plan Sponsor reserves the right to amend the Plan (for itself and each Employer) through action of the Board. An amendment must be in
writing and executed by an officer authorized to take such action. Each amendment shall be effective when approved by the Board. No amendment can directly or indirectly deprive any current or former Participant or Beneficiary of all or any portion
of his Account, which had accrued prior to the amendment. 

  

	8.2	Retroactive Amendments. An amendment made by the Plan Sponsor in accordance with Section 8.1 may be made effective on a date prior to the first day of the
Plan Year in which it is adopted if such amendment is necessary or appropriate to enable the Plan to satisfy the applicable requirements of the Code or ERISA or to conform the Plan to any change in federal law or to any regulations or ruling
thereunder. Any retroactive amendment by the Plan Sponsor shall be subject to the provisions of Section 8.1. 

  

	8.3	Plan Termination. The Plan has been adopted with the intention and expectation that it will be continued indefinitely. Each Employer, however, reserves the right
to terminate the Plan with respect to its participating employees. Each Employer has no obligation or liability whatsoever to maintain the Plan for any length of time and may discontinue contributions under the Plan or terminate the Plan at any time
without any liability hereunder for any such discontinuance or termination. 

  

	8.4	Distribution Upon Termination of the Plan. Upon termination of the Plan, no further Contributions shall be made under the Plan and if such termination meets the
distribution acceleration requirements of Code Section 409A, all amounts credited to each Participant’s Account shall be paid out as soon as administratively feasible in a single lump sum payment regardless of the elections the Participant
had made concerning the time and form of payment of the amounts credited to his Account and regardless of whether the Participant was receiving installments at the time of such Plan termination. 

  
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 ARTICLE 9 – THE TRUST 

 

	9.1	Establishment of Trust. The Plan Sponsor may but is not required to establish a trust to hold amounts, which the Plan Sponsor may contribute from time to
time to correspond to some or all amounts credited to Participants under Section 4.1. If the Plan Sponsor elects to establish a trust, the provisions of Sections 9.2 and 9.3 shall become operative. 

 

	9.2	Grantor Trust. Any trust established by the Plan Sponsor shall be between the Plan Sponsor and a trustee pursuant to a separate written agreement under which
assets are held, administered and managed, subject to the claims of the Plan Sponsor’s creditors in the event of the Plan Sponsor’s insolvency, until paid to the Participant and/or his Beneficiaries specified in the Plan. The trust is
intended to be treated as a grantor trust under the Code, and the establishment of the trust shall not cause the Participant to realize current income on amounts contributed thereto. 

 

	9.3	Investment of Trust Funds. Any amounts contributed to the trust by the Plan Sponsor shall be invested by the trustee in accordance with the provisions of the
trust and the instructions of the Administrator. Trust investments need not reflect the hypothetical investments selected by Participants under Section 5.1 for the purpose of adjusting Accounts and the earnings or investment results of the
trust shall not affect the hypothetical investment adjustments to Participant Accounts under the Plan. 

  
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 ARTICLE 10 – MISCELLANEOUS 

 

	10.1	Acceleration of Payments Permitted Under Code Section 409A. Notwithstanding anything in this Plan to the contrary, the Administrator may provide that a
Participant will receive all or a portion of his or her Account prior to the time specified in this Plan to the extent such acceleration is permitted under Code Section 409A. 

 

	10.2	Unsecured General Creditor of the Employer. Participants and their Beneficiaries, heirs, successors and assigns shall have no legal or equitable rights,
interests or claims in any property or assets of the Employer. For purposes of the payment of benefits under the Plan, any and all of the Employer’s assets shall be, and shall remain, the general, unpledged, unrestricted assets of the Employer.
Each Employer’s obligation under the Plan shall be merely that of an unfunded and unsecured promise to pay money in the future. 

  

	10.3	Employer’s Liability. Each Employer’s liability for the payment of benefits under the Plan shall be defined only by the Plan and by the Deferral
Elections entered into between a Participant and the Employer. An Employer shall have no obligation or liability to a Participant under the Plan except as provided by the Plan and a Deferral Election or agreements. An Employer shall have no
liability to Participants employed by other Employers. 

  

	10.4	Limitation of Rights. Neither the establishment of the Plan, nor any amendment thereof, nor the creation of any fund or account, nor the payment of any benefits,
will be construed as giving to the Participant or any other person any legal or equitable right against the Employer or Administrator, except as provided herein; and in no event will the terms of employment or service of the Participant be modified
or in any way affected hereby. 

  

	10.5	 Assignment of Benefits. Except as hereinafter provided with respect to marital disputes, none of the benefits or rights of a Participant or any
Beneficiary of a Participant shall be subject to the claim of any creditor. In particular, to the fullest extent permitted by law, all such benefits and rights shall be free from attachment, garnishment, or any other legal or equitable process
available to any creditor of the Participant and his or her Beneficiary. Neither the Participant nor his or her Beneficiary shall have the right to alienate, anticipate, commute, pledge, encumber, or assign any of the payments which he or she may
expect to receive, contingently or otherwise, under this Plan, except the right to designate a Beneficiary to receive death benefits provided hereunder. In cases of marital dispute,

  
 - 12 -

	 	
the Employer shall observe the terms of the Plan unless and until ordered to do otherwise by a state or Federal court. As a condition of participation, a Participant agrees to hold the Employer
harmless from any harm that arises out of the Employer’s obeying the final order of any state or Federal court, whether such order effects a judgment of such court or is issued to enforce a judgment or order of another court. A distribution
made to comply with a court-approved settlement incident to divorce or to comply with Federal conflict of interest requirements shall be permitted, notwithstanding the provisions of Article 3 or any elections made by the Participant to the contrary.

  

	10.6	Facility of Payment. If the Administrator determines, on the basis of medical reports or other evidence satisfactory to the Administrator, that the recipient of
any benefit payments under the Plan is incapable of handling his affairs by reason of minority, illness, infirmity or other incapacity, the Administrator may direct the Employer to disburse such payments to a person or institution designated by a
court which has jurisdiction over such recipient or a person or institution otherwise having the legal authority under State law for the care and control of such recipient. The receipt by such person or institution of any such payments therefore,
and any such payment to the extent thereof, shall discharge the liability of the Employer for the payment of benefits hereunder to such recipient. 

  

	10.7	Notices. Any notice or other communication in connection with the Plan shall be deemed delivered in writing if addressed as provided below and if either actually
delivered at said address or, in the case or a letter, 5 business days shall have elapsed after the same shall have been deposited in the United States mails, first-class postage prepaid and registered or certified: 

 

	 	(a)	If it is sent to the Employer or Administrator, it will be at the address specified by the Employer; or 

 

	 	(b)	In each case at such address as the addressee shall have specified by written notice delivered in accordance with the foregoing to the addressor’s then effective
notice address. 

  

	10.8	 Tax Withholding. The Employer shall have the right to deduct from all payments or deferrals made under the Plan any tax required by law to be
withheld. If the Employer concludes that tax is owed with respect to any deferral or payment hereunder, the Employer shall withhold such amounts from any payments due the Participant, as permitted by law, or otherwise make appropriate arrangements
with the Participant or his Beneficiary for satisfaction of such obligation. Tax, for purposes of this Section 10.8 means any federal, state, local or any other governmental income tax, employment or payroll tax, excise tax, or any other tax or
assessment 

  
 - 13 -

	 	
owing with respect to amounts deferred, any earnings thereon, and any payments made to Participants under the Plan. 

 

	10.9	Indemnification. Each Employer shall indemnify and hold harmless each employee, officer, or director of an Employer to whom is delegated duties,
responsibilities, and authority with respect to the Plan against all claims, liabilities, fines and penalties, and all expenses reasonably incurred by or imposed upon him (including but not limited to reasonable attorney fees) which arise as a
result of his actions or failure to act in connection with the operation and administration of the Plan to the extent lawfully allowable and to the extent that such claim, liability, fine, penalty, or expense is not paid for by liability insurance
purchased or paid for by an Employer. Notwithstanding the foregoing, an Employer shall not indemnify any person for any such amount incurred through any settlement or compromise of any action unless the Employer consents in writing to such
settlement or compromise. 

  

	10.10	Governing Law. The Plan will be construed, administered and enforced according to ERISA, and to the extent not preempted thereby, the laws of the State of
California. 

 ARTICLE 11 – PLAN ADMINISTRATION 

 

	11.1	Powers and Responsibilities of the Administrator. The Administrator has the full power and the full responsibility to administer the Plan in all of its details,
subject, however, to the applicable requirements of ERISA. The Administrator’s powers and responsibilities include, but are not limited to, the following: 

 

	 	(a)	To make and enforce such rules and regulations as it deems necessary or proper for the efficient administration of the Plan; 

 

	 	(b)	To interpret the Plan, its interpretation thereof in good faith to be final and conclusive on all persons claiming benefits under the Plan; 

 

	 	(c)	To decide all questions concerning the Plan and the eligibility of any person to participate in the Plan; 

 

	 	(d)	To administer the claims and review procedures specified in Section 11.2; 

  
 - 14 -

	 	(e)	To compute the amount of benefits which will be payable to any Participant, former Participant or Beneficiary in accordance with the provisions of the Plan;

  

	 	(f)	To determine the person or persons to whom such benefits will be paid; 

  

	 	(g)	To authorize the payment of benefits; 

  

	 	(h)	To comply with the reporting and disclosure requirements of Part 1 of Subtitle B of Title I of ERISA; 

 

	 	(i)	To appoint such agents, counsel, accountants, and consultants as may be required to assist in administering the Plan; 

 

	 	(j)	By written instrument, to allocate and delegate its responsibilities, including the formation of an Administrative Committee to administer the Plan.

  

	11.2	Claims and Review Procedures. 

  

	 	(a)	Claims Procedure. If any person believes he is being denied any rights or benefits under the Plan, such person may file a claim in writing with the
Administrator. If any such claim is wholly or partially denied, the Administrator will notify such person of its decision in writing. Such notification will contain (i) specific reasons for the denial, (ii) specific reference to pertinent
Plan provisions, (iii) a description of any additional material or information necessary for such person to perfect such claim and an explanation of why such material or information is necessary, and (iv) information as to the steps to be
taken if the person wishes to submit a request for review. Such notification will be given within 90 days after the claim is received by the Administrator (or within 180 days, if special circumstances require an extension of time for processing the
claim, and if written notice of such extension and circumstances is given to such person within the initial 90-day period). If such notification is not given within such period, the claim will be considered denied as of the last day of such period
and such person may request a review of his claim. 

  

	 	(b)	 Review Procedure. Within 60 days after the date on which a person receives a written notification of denial of claim (or, if written
notification is not provided, within 60 days of the date denial is considered to have occurred), such person (or his duly authorized representative) may (i) file a written request with the Administrator for a review of his denied claim and of
pertinent documents and (ii) submit written issues and comments to the Administrator. The Administrator will notify such person of its decision in writing. Such 

  
 - 15 -

	 	
notification will be written in a manner calculated to be understood by such person and will contain specific reasons for the decision as well as specific references to pertinent Plan provisions.
The decision on review will be made within 60 days after the request for review is received by the Administrator (or within 120 days, if special circumstances require an extension of time for processing the request, such as an election by the
Administrator to hold a hearing, and if written notice of such extension and circumstances is given to such person within the initial 60-day period). If the decision on review is not made within such period, the claim will be considered denied.

  

	11.3	Plan Administrative Costs. All reasonable costs and expenses (including legal, accounting, and employee communication fees) incurred by the Administrator in
administering the Plan shall be paid by the Employer. 

  
 - 16 -

 IN WITNESS WHEREOF, the Plan Sponsor by its duly authorized officer(s), has caused the Plan as amended and
restated effective as of January 1, 2005 to be adopted on the 25th day of April, 2012. 
 SVB FINANCIAL GROUP 

By: Approved by the Compensation Committee on April 25, 2012. Refer to official Compensation Committee Minutes for approval record. 

  
 - 17 -

 APPENDIX A 
 INVESTMENT OPTIONS 
  

			
	 •    American Century Small Company
	  	 •    Fidelity Freedom Fund 2050

		
	 •    Fidelity Blue Chip
	  	 •    Fidelity Freedom Income

		
	 •    Fidelity Diversified International
	  	 •    Fidelity Government Income

		
	 •    Fidelity Equity Income
	  	 •    Fidelity Mid-Cap Stock

		
	 •    Fidelity Freedom Fund 2000
	  	 •    Fidelity Retirement Money Market

		
	 •    Fidelity Freedom Fund 2005
	  	 •    Franklin Small/Mid Cap Growth

		
	 •    Fidelity Freedom Fund 2010
	  	 •    Goldman Sachs Mid Cap Value

		
	 •    Fidelity Freedom Fund 2015
	  	 •    Hotchkis and Wiley Large Cap Value Fund

		
	 •    Fidelity Freedom Fund 2020
	  	 •    Legg Mason Aggressive Growth Fund

		
	 •    Fidelity Freedom Fund 2025
	  	 •    PIMCO Low Duration Bond

		
	 •    Fidelity Freedom Fund 2030
	  	 •    Spartan 500 Index

		
	 •    Fidelity Freedom Fund 2035
	  	 •    SVB Financial Group Stock

		
	 •    Fidelity Freedom Fund 2040
	  	 •    Wells Fargo Adv Small Cap Value

		
	 •    Fidelity Freedom Fund 2045
	  	 •    Fidelity Freedom Fund 2055

  
 - i -Form of Restricted Stock Unit Agreement - Employees

 EXHIBIT 10.1 
 ENERSYS 
 AWARD AGREEMENT FOR EMPLOYEES – RESTRICTED STOCK
UNITS 
 UNDER THE 2010 EQUITY INCENTIVE PLAN 

THIS AWARD AGREEMENT FOR EMPLOYEES – RESTRICTED STOCK UNITS (this “Agreement”), dated as of
                    , is between ENERSYS, a Delaware corporation (the “Company”), and the individual identified on the signature page
hereof (the “Participant”). 
 BACKGROUND 

A. The Participant is currently an employee of the Company or one of its Subsidiaries. 

B. The Company desires to (i) provide the Participant with an incentive to remain in the employ of the Company or one of its
Subsidiaries, and (ii) increase the Participant’s interest in the success of the Company by granting restricted stock units (the “Restricted Stock Units”) to the Participant. 

C. The grant of the Restricted Stock Units is (i) made pursuant to the EnerSys 2010 Equity Incentive Plan (the “Plan”),
(ii) made subject to the terms and conditions of this Agreement, and (iii) not employment compensation nor an employment right and is made in the discretion of the Company’s Compensation Committee. 

NOW, THEREFORE, in consideration of the covenants and agreements contained in this Agreement, the parties hereto, intending to be legally
bound, agree as follows: 
 1. Definitions; Incorporation of Plan Terms. Capitalized terms used in this Agreement without
definition shall have the meanings assigned to them in the Plan. This Agreement and the Restricted Stock Units shall be subject to the Plan. The terms of the Plan are incorporated into this Agreement by reference. If there is a conflict or an
inconsistency between the Plan and this Agreement, the Plan shall govern. The Participant hereby acknowledges receipt of a copy of the Plan. 
 2. Grant of Restricted Stock Units. 
 (a) Subject to the provisions of this
Agreement and pursuant to the provisions of the Plan, the Company hereby grants to the Participant the number of Restricted Stock Units specified on the signature page of this Agreement. The Company shall credit to a bookkeeping account (the
“Account”) maintained by the Company, or a third party on behalf of the Company, for the Participant’s benefit the Restricted Stock Units, each of which shall be deemed to be the equivalent of one share of the Company’s common
stock, par value $.0.01 per share (each, a “Share”). 

  
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 (b) If and whenever any cash dividends are declared on the Shares, on the date such dividend
is paid, the Company will credit to the Account a number of additional Restricted Stock Units equal to the result of dividing (i) the product of the total number of Restricted Stock Units credited to the Account on the record date for such
dividend (other than previously settled or forfeited Restricted Stock Units) times the per Share amount of such dividend, by (ii) the Fair Market Value of one Share on the record date for such dividend. The additional Restricted Stock Units
shall be or become vested to the same extent as the Restricted Stock Units that resulted in the crediting of such additional Restricted Stock Units. 
 (c) If and whenever the Company declares and pays a dividend or distribution on the Shares in the form of additional shares, or there occurs a forward split of Shares, then a number of additional
Restricted Units shall be credited to the Account as of the payment date for such dividend or distribution or forward split equal to (i) the total number of Restricted Stock Units credited to the Account on the record date for such dividend or
distribution or split (other than previously settled or forfeited Restricted Stock Units), multiplied by (ii) the number of additional Shares actually paid as a dividend or distribution or issued in such split in respect of each outstanding
Share. The additional Restricted Stock Units shall be or become vested to the same extent as the Restricted Stock Units that resulted in the crediting of such additional Restricted Stock Units. 

3. Terms and Conditions. All of the Restricted Stock Units shall initially be unvested. 

(a) Vesting. Twenty-five percent (25%) of the Restricted Stock Units (rounded up to the nearest whole number) shall vest on
the first anniversary of the date of this Agreement and on each of the next three (3) successive anniversaries thereof unless previously vested or forfeited in accordance with the Plan or this Agreement (the “Normal Vesting
Schedule”). 
 (i) Any Restricted Stock Units that fail to vest because the employment condition set forth in
Section 3(c) is not satisfied shall be forfeited, subject to the special provisions set forth in subsections (ii) through (iv) of this Section 3(a). 
 (ii) If the Participant’s employment terminates due to death or Permanent Disability, or in the event of a Change in Control where the holders of the Company’s Common Stock receive cash
consideration for their Common Stock in consummation of the Change in Control, Restricted Stock Units not previously vested shall immediately become vested. 
 (iii) If-on or within two years after a Change in Control (other than a Change in Control described in Section 3(a)(ii) above), the Participant terminates employment for Good Reason, or is terminated
by the Company without Cause, Restricted Stock Units not previously vested shall immediately become vested. 
 (iv) In the
event of the Participant’s resignation or termination of employment (other than for Cause) on or after the earlier of (A) the Participant’s 60th birthday and having attained ten (10) years of service with the Company or a
Subsidiary (including years 

  
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of service granted by the Company as a result of a merger, acquisition, or other transaction) or (B) the Participant’s 65th birthday (a “Retirement”), the Compensation
Committee may determine, in its sole discretion, whether and the manner in which Restricted Stock Units not previously vested (or any portion thereof) shall be vested and transferred to such Participant. In the absence of Compensation Committee
action, upon such Retirement, the Participant shall forfeit any and all Restricted Stock Units which have not vested as of the date of such termination and such units shall revert to the Company without consideration of any kind. To the extent the
Participant’s Retirement date and vesting date under this Section 3(a)(iv) are in different tax years, any amount payable under this subsection shall constitute the payment of nonqualified deferred compensation, subject to the requirements
of Code Section 409A. 
 (b) Restrictions on Transfer. Until the earlier of the applicable vesting date under the Normal
Vesting Schedule, the date of a termination of employment due to death or Permanent Disability, the date of a Change in Control described in Section 3(a)(ii), or the date of a termination of employment on or within two years after a Change in
Control described in Section 3(a)(iii), or as otherwise provided in the Plan, no transfer of the Restricted Stock Units or any of the Participant’s rights with respect to the Restricted Stock Units, whether voluntary or involuntary, by
operation of law or otherwise, shall be permitted. Unless the Company’s Compensation Committee determines otherwise, upon any attempt to transfer any Restricted Stock Units or any rights in respect of the Restricted Stock Units before the
earlier of the applicable vesting date under the Normal Vesting Schedule, the date of a termination of employment due to death or Permanent Disability, the date of a Change in Control described in Section 3(a)(ii), or the date of a termination
of employment on or within two years after a Change in Control described in Section 3(a)(iii), such unit, and all of the rights related to such unit, shall be immediately forfeited by the Participant and transferred to, and reacquired by, the
Company without consideration of any kind. 
 (c) Forfeiture. Upon termination of the Participant’s employment with
the Company or a Subsidiary for any reason other than death, Permanent Disability or one of the reasons set forth in Sections 3(a)(iii) and (iv), the Participant shall forfeit any and all Restricted Stock Units which have not vested as of the date
of such termination and such units shall revert to the Company without consideration of any kind. 
 (d) Settlement.
Restricted Stock Units not previously forfeited shall be settled on the earlier of the applicable vesting date under the Normal Vesting Schedule, the date of a termination of employment due to death or Permanent Disability, the date of a Change in
Control described in Section 3(a)(ii), or the date of a termination of employment on or within two years after a Change in Control described in Section 3(a)(iii) by delivery of one share of common stock for each Restricted Stock Unit being
settled or, if determined by the Compensation Committee in its sole discretion, by a payment of cash equal to the Fair Market Value of one share of common stock. 
 4. Noncompetition. The Participant agrees with the Company that, for so long as the Participant is employed by the Company or any of its Subsidiaries and continuing for twelve (12) months (or
such longer period as may be provided in an employment or similar agreement between the Participant and the Company or one of its Subsidiaries) following a termination of such employment due to Permanent Disability or under Sections 3(a)(iii) or
(iv) of this 

  
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Agreement or that occurs after any of the Restricted Stock Units have vested, the Participant will not, without the prior written consent of the Company, directly or indirectly, and whether as
principal or investor or as an employee, officer, director, manager, partner, consultant, agent, or otherwise, alone or in association with any other person, firm, corporation, or other business organization, become involved in a Competing Business
Americas, Europe or Asia, or in any geographic area in which the Company or any of its Subsidiaries has engaged during such period in any of the activities that comprise a Competing Business, or in which the Participant has knowledge of the
Company’s plans to engage in any of the activities that comprise a Competing Business (including, without limitation, any area in which any customer of the Company or any of its Subsidiaries may be located); provided, however, that the
provisions of this Section 4 shall apply solely to those activities of a Competing Business, with which the Participant was personally involved or for which the Participant was responsible while employed by the Company or its Subsidiaries
during the twelve (12) month period preceding termination of the Participant’s employment. This Section 4 will not be violated, however, by Participant’s investment of up to $100,000 in the aggregate in one or several
publicly-traded companies that engage in a competing business. 
 5. Wrongful Solicitation. As a separate and independent
covenant, the Participant agrees with the Company that, for so long as the Participant is employed by the Company or any of its Subsidiaries and continuing for twelve (12) months (or such longer period as may be provided in an employment or
similar agreement between the Participant and the Company or one of its Subsidiaries) following a termination of such employment due to Permanent Disability or under Sections 3(a)(iii) or (iv) of this Agreement or that occurs after any of the
Restricted Stock Units have vested, the Participant will not engage in any Wrongful Solicitation. 
 6. Confidentiality;
Specific Performance. 
 (a) The Participant agrees with the Company that the Participant will not at any time, except in
performance of the Participant’s obligations to the Company hereunder or with the prior written consent of the Company, directly or indirectly, reveal to any person, entity, or other organization (other than the Company, or its employees,
officers, directors, stockholders, or agents) or use for the Participant’s own benefit any information deemed to be confidential by the Company or any of its Affiliates (“Confidential Information”) relating to the assets, liabilities,
employees, goodwill, business, or affairs of the Company or any of its Affiliates, including, without limitation, any information concerning past, present, or prospective customers, manufacturing processes, marketing, operating, or financial data,
or other confidential information used by, or useful to, the Company or any of its Affiliates and known (whether or not known with the knowledge and permission of the Company or any of its Affiliates and whether or not at any time prior to the Date
of Grant developed, devised, or otherwise created in whole or in part by the efforts of the Participant) to the Participant by reason of the Participant’s employment with, equity holdings in, or other association with the Company or any of its
Affiliates. The Participant further agrees that the Participant will retain all copies and extracts of any written Confidential Information acquired or developed by the Participant during any such employment, equity holding, or association in trust
for the sole benefit of the Company, its Affiliates, and their successors and assigns. The Participant further agrees that the Participant will not, without the prior written consent of the Company, remove or take from the Company’s or any of
its Affiliate’s premises (or if previously removed or taken, the Participant will promptly 

  
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return) any written Confidential Information or any copies or extracts thereof. Upon the request and at the expense of the Company, the Participant shall promptly make all disclosures, execute
all instruments and papers, and perform all acts reasonably necessary to vest and confirm in the Company and its Affiliates, fully and completely, all rights created or contemplated by this Section 6. The term “Confidential
Information” shall not include information that is or becomes generally available to the public other than as a result of a disclosure by, or at the direction of, the Participant. 

(b) The Participant agrees that upon termination of the Participant’s employment with the Company or any Subsidiary for any reason,
the Participant will return to the Company immediately all memoranda, books, papers, plans, information, letters and other data, and all copies thereof or therefrom, in any way evidencing (in whole or in part) Confidential Information relating to
the business of the Company and its Subsidiaries and Affiliates. The Participant further agrees that the Participant will not retain or use for the Participant’s account at any time any trade names, trademark, or other proprietary business
designation used or owned in connection with the business of the Company or its Subsidiaries or Affiliates. 
 (c) The
Participant acknowledges and agrees that the Company’s remedies at law for a breach or threatened breach of any of the provisions of this Section 6, or Section 4 or 5 above, would be inadequate and, in recognition of this fact, the
Participant agrees that, in the event of such a breach or threatened breach, in addition to any remedies at law, the Company, without posting any bond, shall be entitled to obtain equitable relief in the form of specific performance, temporary
restraining order, temporary or permanent injunction, or any other equitable remedy which may then be available. 
 7.
Taxes. 
 (a) This Section 7(a) applies only to (a) all Participants who are U.S. employees, and (b) to
those Participants who are employed by a Subsidiary of the Company that is obligated under applicable local law to withhold taxes with respect to the settlement of the Restricted Stock Units. Such Participant shall pay to the Company or a designated
Subsidiary, promptly upon request, and in any event at the time the Participant recognizes taxable income with respect to the Restricted Stock Units, an amount equal to the taxes the Company determines it is required to withhold under applicable tax
laws with respect to the Restricted Stock Units. The Participant may satisfy the foregoing requirement by making a payment to the Company in cash or, with the approval of the Plan administrator, by delivering already owned unrestricted Shares or by
having the Company withhold a number of Shares in which the Participant would otherwise become vested under this Agreement, in each case, having a value equal to the minimum amount of tax required to be withheld. Such Shares shall be valued at their
fair market value on the date as of which the amount of tax to be withheld is determined. 
 (b) The Participant acknowledges
that the tax laws and regulations applicable to the Restricted Stock Units and the disposition of the shares following the settlement of Restricted Stock Units are complex and subject to change. 

  
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 8. Securities Laws Requirements. The Company shall not be obligated to transfer any
shares following the settlement of Restricted Stock Units to the Participant free of a restrictive legend if such transfer, in the opinion of counsel for the Company, would violate the Securities Act of 1933, as amended (the “Securities
Act”) (or any other federal or state statutes having similar requirements as may be in effect at that time). 
 9. No
Obligation to Register. The Company shall be under no obligation to register any shares as a result of the settlement of the Restricted Stock Units pursuant to the Securities Act or any other federal or state securities laws. 

10. 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 for such period as the Company or its underwriters may request (such period not to exceed 180 days following the date of the applicable offering), the Participant 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 of the Restricted Stock Units granted under this Agreement or any shares resulting the settlement thereof without the prior written consent of the Company or its underwriters.

 11. Protections Against Violations of Agreement. No purported sale, assignment, mortgage, hypothecation, transfer,
pledge, encumbrance, gift, transfer in trust (voting or other) or other disposition of, or creation of a security interest in or lien on, any of the Restricted Stock Units by any holder thereof in violation of the provisions of this Units Agreement
or the Certificate of Incorporation or the Bylaws of the Company, will be valid, and the Company will not transfer any shares resulting from the settlement of Restricted Stock Units on its books nor will any of such shares be entitled to vote, nor
will any dividends be paid thereon, unless and until there has been full compliance with such provisions to the satisfaction of the Company. The foregoing restrictions are in addition to and not in lieu of any other remedies, legal or equitable,
available to enforce such provisions. 
 12. Rights as a Stockholder. The Participant shall not possess the right to vote
the shares underlying the Restricted Stock Units until the Restricted Stock Units have settled in accordance with the provisions of this Agreement and the Plan. 
 13. Survival of Terms. This Agreement shall apply to and bind the Participant and the Company and their respective permitted assignees and transferees, heirs, legatees, executors, administrators
and legal successors. The terms of Sections 4, 5 and 6 shall expressly survive the forfeiture of the Restricted Stock Units and this Agreement. 
 14. Notices. All notices and other communications provided for herein shall be in writing and shall be delivered by hand or sent by certified or registered mail, return receipt requested, postage
prepaid, addressed, if to the Participant, to the Participant’s attention at the mailing address set forth at the foot of this Agreement (or to such other address as the Participant shall have specified to the Company in writing) and, if to the
Company, to the Company’s office at 2366 Bernville Road, Reading, Pennsylvania 19605, Attention: General Counsel (or to such 

  
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other address as the Company shall have specified to the Participant in writing). All such notices shall be conclusively deemed to be received and shall be effective, if sent by hand delivery,
upon receipt, or if sent by registered or certified mail, on the fifth day after the day on which such notice is mailed. 
 15.
Waiver. The waiver by either party of compliance with any provision of this Agreement by the other party shall not operate or be construed as a waiver of any other provision of this Agreement, or of any subsequent breach by such party of a
provision of this Agreement. 
 16. Authority of the Administrator. The Plan Administrator, which is the Company’s
Compensation Committee, shall have full authority to interpret and construe the terms of the Plan and this Agreement. The determination of the administrator as to any such matter of interpretation or construction shall be final, binding and
conclusive. 
 17. Representations. The Participant has reviewed with his own tax advisors the applicable tax (U.S.,
foreign, state, and local) consequences of the transactions contemplated by this Agreement. The Participant is relying solely on such advisors and not on any statements or representations of the Company or any of its agents. The Participant
understands that he (and not the Company) shall be responsible for any tax liability that may arise as a result of the transactions contemplated by this Agreement. 
 18. Investment Representation. The Participant hereby represents and warrants to the Company that the Participant, by reason of the Participant’s business or financial experience (or the
business or financial experience of the Participant’s professional advisors who are unaffiliated with and who are not compensated by the Company or any affiliate or selling agent of the Company, directly or indirectly), has the capacity to
protect the Participant’s own interests in connection with the transactions contemplated under this Agreement. 
 19.
Entire Agreement; Governing Law. This Agreement and the Plan and the other related agreements expressly referred to herein set forth the entire agreement and understanding between the parties hereto and supersedes all prior agreements and
understandings relating to the subject matter hereof. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original, but all such counterparts shall together constitute one and the same agreement. The
headings of sections and subsections herein are included solely for convenience of reference and shall not affect the meaning of any of the provisions of this Agreement. This Agreement shall be governed by, and construed in accordance with, the laws
of the Commonwealth of Pennsylvania, USA. 
 20. Severability. Should any provision of this Agreement be held by a court
of competent jurisdiction to be unenforceable, or enforceable only if modified, such holding shall not affect the validity of the remainder of this Agreement, the balance of which shall continue to be binding upon the parties hereto with any such
modification (if any) to become a part hereof and treated as though contained in this original Agreement. Moreover, if one or more of the provisions contained in this Agreement shall for any reason be held to be excessively broad as to scope,
activity, subject or otherwise so as to be unenforceable, in lieu of severing such unenforceable provision, such provision or provisions shall be construed by the appropriate judicial body by limiting or reducing it or them, so as to be enforceable
to the maximum extent compatible with the applicable law as it shall then appear, and such determination by such judicial body shall not affect the enforceability of such provisions or provisions in any other jurisdiction. 

  
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 21. Amendments; Construction. The Plan administrator may amend the terms of this
Agreement prospectively or retroactively at any time, but no such amendment shall impair the rights of the Participant hereunder without his or her consent. To the extent the terms of Section 4 above conflict with any prior agreement between
the parties related to such subject matter, the terms of Section 4 shall supersede such conflicting terms and control. Headings to Sections of this Agreement are intended for convenience of reference only, are not part of this Restricted Stock
Units and shall have no affect on the interpretation hereof. 
 22. Acceptance. The Participant hereby acknowledges
receipt of a copy of the Plan and this Agreement. The Participant has read and understand the terms and provision thereof, and accepts the shares of Restricted Stock Units subject to all the terms and conditions of the Plan and this Agreement. The
Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions arising under this Agreement. 
 23. Miscellaneous. 
 (a) No Rights to Grants or Continued Employment.
The Participant acknowledges that the award granted under this Agreement is not employment compensation nor is it an employment right, and is being granted at the sole discretion of the Company’s Compensation Committee. The Participant shall
not have any claim or right to receive grants of Awards under the Plan. Neither the Plan or this Agreement, nor any action taken or omitted to be taken hereunder or thereunder, shall be deemed to create or confer on the Participant any right to be
retained as an employee of the Company or any Subsidiary or other Affiliate thereof, or to interfere with or to limit in any way the right of the Company or any Affiliate or Subsidiary thereof to terminate the employment of the Participant at any
time. 
 (b) No Restriction on Right of Company to Effect Corporate Changes. Neither the Plan nor this Agreement shall
affect in any way the right or power of the Company or its stockholders to make or authorize any or all adjustments, recapitalizations, reorganizations, or other changes in the Company’s capital structure or its business, or any merger or
consolidation of the Company, or any issue of stock or of options, warrants or rights to purchase stock or of bonds, debentures, preferred, or prior preference stocks whose rights are superior to or affect the Common Stock or the rights thereof or
which are convertible into or exchangeable for Common Stock, or the dissolution or liquidation of the Company, or any sale or transfer of all or any part of the assets or business of the Company, or any other corporate act or proceeding, whether of
a similar character or otherwise. 
 (c) Assignment. The Company shall have the right to assign any of its rights and to
delegate any of its duties under this Agreement to any of its Affiliates. 
 24. Code Section 409A. Notwithstanding
anything in this Agreement to the contrary, the receipt of any benefits under this Agreement as a result of a termination of employment shall 

  
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be subject to satisfaction of the condition precedent that the Participant undergo a “separation from service” within the meaning of Treas. Reg. § 1.409A-1(h) or any successor
thereto. In addition, if a Participant is deemed to be a “specified employee” within the meaning of that term under Code Section 409A(a)(2)(B), then with regard to any payment or the provisions of any benefit that is required to be
delayed pursuant to Code Section 409A(a)(2)(B), such payment or benefit shall not be made or provided prior to the earlier of (i) the expiration of the six (6) month period measured from the date of the Participant’s
“separation from service” (as such term is defined in Treas. Reg. § 1.409A-1(h)), or (ii) the date of the Participant’s death (the “Delay Period”). Within ten (10) days following the expiration of the Delay
Period, all payments and benefits delayed pursuant to this Section (whether they would have otherwise been payable in a single sum or in installments in the absence of such delay) shall be paid or reimbursed to the Participant in a lump sum, and any
remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal payment dates specified for them herein. 
 THIS AGREEMENT SHALL BE NULL AND VOID AND UNENFORCEABLE BY THE PARTICIPANT UNLESS SIGNED AND DELIVERED TO THE COMPANY NOT LATER THAN THIRTY (30) DAYS SUBSEQUENT TO THE DATE OF GRANT SET FORTH BELOW.

 BY SIGNING THIS AGREEMENT, THE PARTICIPANT IS HEREBY CONSENTING TO THE PROCESSING AND TRANSFER OF THE PARTICIPANT’S
PERSONAL DATA BY THE COMPANY TO THE EXTENT NECESSARY TO ADMINISTER AND PROCESS THE AWARDS GRANTED UNDER THIS AGREEMENT. 
 IN
WITNESS WHEREOF, the Company has caused this Agreement to be executed by its duly authorized officer and the Participant has executed this Agreement, both as of the day and year first above written. 

 

			
	ENERSYS
		
	By:	 	  

	Name:	 	John D. Craig
	Title:	 	Chairman, President & CEO
	
	PARTICIPANT
	
	  

	Name:	 	  

	Address:	 	  

		 	  

 Date of Grant:
                     
 Number of Shares of
Restricted Stock Units:                  

  
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 Appendix A 
 to 
 Restricted Stock Unit Agreement - Employees 

2010 Equity Incentive Plan 

This Appendix A contains supplemental terms and conditions for awards of Restricted Stock Units (“RSUs”) granted in the Date of Grant set forth
in the Agreement under the 2010 Equity Incentive Plan (the “Plan”) to the Participants who reside outside the United States or who are otherwise subject to the laws of a country other than the United States. 

The Participant has also received the Agreement applicable to the Award set forth therein. The Agreement, together with this Appendix A and the Plan are
the terms and conditions of the grant of RSUs set forth in the Agreement. To the extent that this Appendix A amends, deletes or supplements any terms of the Agreement, this Appendix A shall control. Capitalized terms used but not defined herein
shall have the same meanings ascribed to them in the Agreement. 
 Section I of this Appendix A contains includes special terms and conditions
that govern the RSUs outside of the United States. Section II of this Appendix A includes special terms and conditions in the specific countries listed therein. 
 Finally, if the Participant is a citizen or resident of a country other than the one in which the Participant is currently working, transferred employment after the Award was granted or is considered a
resident of another country for local law purposes, the information contained herein may not be applicable to you in the same manner. In addition, the Company shall, in its sole discretion, determine to what extent the terms and conditions contained
herein will apply under theses circumstances. 
 Section I. All Countries Outside the United States 

 

	1.	Nature of Grant. In accepting the Award, the Participant acknowledges that: 

 

	 	1.1	the Plan is established voluntarily by the Company, it is discretionary in nature and it may be modified, amended, suspended or terminated by the Company at any time,
to the extent permitted by the Plan; 

  

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

  

	 	1.3	all decisions with respect to future grants, if any, will be at the sole discretion of Company; 

 

	 	1.4	the Participant is voluntarily participating in the Plan; 

  
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	 	1.5	the RSUs and the shares of Common Stock subject to the RSUs are extraordinary items that do not constitute compensation of any kind for services of any kind rendered to
the Company or any Subsidiary, and which is outside the scope of your employment contract, if any; 

  

	 	1.6	the RSUs and the shares of Common Stock subject to the RSUs are not intended to replace any pension rights, if any, or compensation; 

 

	 	1.7	the RSUs and the shares of Common Stock subject to the RSUs, and the income and value of same, are not part of normal or expected compensation or salary for any
purposes, including, but not limited to, 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 for the Company or any Subsidiary; 

  

	 	1.8	the grant of the RSUs and your participation in the Plan will not be interpreted to form an employment contract or relationship with the Company or any Subsidiary;

  

	 	1.9	the future value of the underlying shares of Common Stock is unknown and cannot be predicted with certainty; 

 

	 	1.10	if you obtain shares of Common Stock, the value of those shares of Common Stock acquired may increase or decrease in value; 

 

	 	1.11	in consideration of the grant of the RSUs, no claim or entitlement to compensation or damages shall arise from forfeiture of the RSUs resulting from termination of your
employment with the Company or any Subsidiary (for any reason whatsoever and whether or not in breach of local labor laws) and you irrevocably release the Company and the Subsidiaries from any such claim that may arise; if, notwithstanding the
foregoing, any such claim is found by a court of competent jurisdiction to have arisen, you will be deemed irrevocably to have waived his or her entitlement to pursue such claim; 

 

	 	1.12	in the event of termination of your employment (whether or not in breach of local labor laws), your right to vest in the RSUs under the Plan, if any, will terminate
effective as of the date that you are no longer actively employed and will not be extended by any notice period mandated under local law (e.g., active employment would not include a period of “garden leave” or similar period
pursuant to local law); the Committee shall have the exclusive discretion to determine when you are no longer actively employed for purposes of your Award; 

 

	 	1.13	the Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding your participation in the Plan, or your
acquisition or sale of Common Stock; 

  
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	 	1.14	you are hereby advised to consult with your personal tax, legal and financial advisors regarding participation in the Plan before taking any action related to the Plan;

  

	 	1.15	unless otherwise provided in the Plan or by the Company in its discretion, the RSUs and the benefits evidenced by this Agreement do not create any entitlement to have
the RSUs or any such benefits transferred to, or assumed by, another company nor to be exchanged, cashed out or substituted for, in connection with any corporate transaction affecting the shares of Common Stock of the Company; and

  

	 	1.16	neither the Company, any Subsidiary nor any Affiliate of the Company shall be liable for any foreign exchange rate fluctuation between the Participant’s local
currency and the United States Dollar that may affect the value of the RSUs or of any amounts due to the Participant pursuant to the settlement of the RSUs or the subsequent sale of any shares of Common Stock acquired upon settlement.

 Section II. Country-Specific Provisions 
 Canada 
 Securities Law Notification. The Participant is permitted to
sell shares of Common Stock acquired under the Plan through the designated broker appointed under the Plan, if any, provided that the resale of such shares of Common Stock takes place outside of Canada through the facilities of a national securities
exchange on which the shares of Common Stock are listed (i.e., The New York Stock Exchange). 
 Language Consent. The parties acknowledge
that it is their express wish that the Plan, the Agreement and this Appendix A, 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 (« Plan, Agreement and
Appendix A » ), 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. You hereby authorize the Company or 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. You further authorize the Company and any Affiliate of the Company and the administrator of the Plan to disclose and discuss the
Plan with their advisors. You further authorize the Company and any affiliate to record such information and to keep such information in your file. 

  
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 China 
 Payment of RSUs. Notwithstanding any discretion in Section 11 of the Plan or in Section 2 of the Agreement and Appendix A, the grant of RSUs does not provide any right for you to receive
shares and the RSUs are payable in cash only. 
 India 
 Payment of RSUs. Notwithstanding any discretion in Section 11 of the Plan and Section 2 of the Agreement, the grant of RSUs does not provide any right for you to receive shares and the
RSUs are payable in cash only. 
 Mexico 
 Nature of Grant. The following provisions supplement Section I (Nature of Grant) of this Appendix A: 
 Acknowledgment of the Grant. In accepting the Award, you acknowledge that you have received a copy of the Plan and the Agreement, including this Appendix A, and that you have reviewed the Plan and
the Agreement, including this Appendix A, in its entirety and fully understand and accept all provisions of the Plan and the Agreement, including this Appendix A. You further acknowledge that you have read and specifically and expressly approve the
terms and conditions of Section I (Nature of Grant) of this Appendix A, in which the following is clearly described and established: 
 (1) Your participation in the Plan does not constitute an acquired right. 
 (2)
The Plan and your participation in the Plan are offered by the Company on a wholly discretionary basis. 
 (3) Your
participation in the Plan is voluntary. 
 (4) Neither the Company nor any Affiliate is responsible for any decrease in the
value of the RSUs granted and/or shares of Common Stock issued under the Plan. 
 Labor Law Acknowledgment and Policy Statement. In
accepting the RSUs, you expressly recognize that the Company, with registered offices at 2366 Bernville Road, Reading, Pennsylvania 19605, United States of America, is solely responsible for the administration of the Plan and that your participation
in the Plan and acquisition of shares of Common Stock does not constitute an employment relationship between you and the Company since you are participating in the Plan on a wholly commercial basis and your sole employer is EnerSys de Mexico, S.A.
de CV, Powersonic, S.A. de CV or Yecoltd, S. de R.L. de CV (each, a “Mexican Subsidiary”). Based on the foregoing, you expressly recognize that the Plan and the benefits that you may derive from participation in the Plan do not establish
any rights between you and your employer, a Mexican Subsidiary, and do not form part of the conditions of your employment and/or benefits provided by such Mexican Subsidiary, and any modification of the Plan or its termination shall not constitute a
change or impairment of the terms and conditions of your employment. 

  
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 You further understand that your participation in the Plan is a result of a unilateral and discretionary
decision of the Company; therefore, the Company reserves the absolute right to amend and/or discontinue your participation in the Plan at any time, without any liability to you. 
 Finally, you hereby declare that you do not reserve to yourself any action or right to bring any claim against the Company for any compensation or damages regarding any provision of the Plan or any
benefits derived from the Plan; therefore, you grant a full and broad release to the Company, its shareholders, officers, agents, legal representatives, and subsidiaries with respect to any claim that may arise. 

Spanish Translation. 
 Reconocimiento de
la Subvención. Al aceptar las Unidades de Acciones Restringidas (“RSU” por sus siglas en inglés), Ud. reconoce que ha recibido y revisado una copia del Términos y Condiciones, y reconoce, además, que acepta
todas las disposiciones del Términos y Condiciones. Ud. también reconoce que Ud. ha leído y aprobado de forma expresa los términos y condiciones establecidos en la Sección I (“Nature of Grant”) en este
Appendix A, que claramente dispone lo siguiente: 
 (1) Su participación en el Plan no constituye un derecho adquirido; 

(2) El Plan y su participación en el Plan es ofrecido por la Compañía de manera completamente discrecional; 

(3) Su participación en el Plan es voluntaria; y 
 (4) Ni la Compañía ni cualquiera subsidiaria es responsable de cualquier disminución del valor de las Unidades de Acciones Restringidas y/o las acciones emitidas bajo el Plan.

 Declaración y Reconocimiento de Derecho y Política Laboral. Al aceptar las Unidades de Acciones Restringidas, el Participante
reconoce que la Compañía, con domicilio social en 2366 Bernville Road, Reading, Pennsylvania 19605, United States of America, EE.UU., es el único responsable de la administración del Plan y su participación en el
Plan y cualquier adquisición de las acciones bajo el Plan no constituyen una relación laboral entre Ud. y la Compañía, porque Ud. está participando en el Plan en su totalidad sobre una base comercial y su
único empleador es EnerSys de Mexico, S.A. de CV, Powersonic, S.A. de CV or Yecoltd, S. de R.L. de CV. Basado en lo anterior, Ud. expresamente reconoce que el Plan y los beneficios que pueden derivarse de la participación en el Plan no
establecen algún derecho entre Ud. y el Empleador, EnerSys de Mexico, S.A. de CV, Powersonic, S.A. de CV or Yecoltd, S. de R.L. de CV, y que no forman parte de las condiciones de empleo y/o beneficios provenidos por EnerSys de Mexico, S.A. de
CV, Powersonic, S.A. de CV or Yecoltd, S. de R.L. de CV, y cualquier modificación del Plan o la terminación de su contrato no constituirá un cambio o deterioro de los términos y condiciones de su empleo. 

  
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 Además, Ud. comprende que su participación en el Plan es causado por una decisión
discrecional y unilateral de la Compañía, por lo que la Compañía se reserva el derecho absoluto de modificar y/o suspender su participación en el Plan en cualquier momento, sin responsabilidad alguna a Ud.

 Finalmente, Ud. manifiesta que no se reserva ninguna acción o derecho que origine una demanda en contra de la Compañía,
por cualquier compensación o daño en relación con cualquier disposición del Plan o de los beneficios derivados del mismo, y en consecuencia usted otorga un amplio y total descargo de responsabilidad a la
Compañía, sucursales, oficinas de representación, sus accionistas, directores, agentes y representantes legales, y Subsidiarias, con respecto a cualquier demanda que pudiera surgir. 

  
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