Document:

2010 Employee Stock Purchase Plan

 Exhibit 10.15 
 GLASSHOUSE TECHNOLOGIES, INC. 
 2010 EMPLOYEE STOCK PURCHASE PLAN 
 (AS ADOPTED EFFECTIVE UPON THE IPO) 

 TABLE OF CONTENTS 
  

			
	  	  	Page
	 SECTION 1. PURPOSE OF THE PLAN
	  	1
		
	 SECTION 2. ADMINISTRATION OF THE PLAN
	  	1
	 (a) Committee Composition
	  	1
	 (b) Committee Responsibilities
	  	1
		
	 SECTION 3. STOCK OFFERED UNDER THE PLAN
	  	1
	 (a) Authorized Shares
	  	1
	 (b) Anti-Dilution Adjustments
	  	1
	 (c) Reorganizations
	  	1
		
	 SECTION 4. ENROLLMENT AND PARTICIPATION
	  	2
	 (a) Offering Periods
	  	2
	 (b) Accumulation Periods
	  	2
	 (c) Enrollment at IPO
	  	2
	 (d) Enrollment After IPO
	  	2
	 (e) Duration of Participation
	  	2
	 (f) Applicable Offering Period
	  	3
		
	 SECTION 5. EMPLOYEE CONTRIBUTIONS
	  	3
	 (a) Commencement of Payroll Deductions
	  	3
	 (b) Amount of Payroll Deductions
	  	3
	 (c) Changing Withholding Rate
	  	4
	 (d) Discontinuing Payroll Deductions
	  	4
	 (e) Limit on Number of Elections
	  	4
		
	 SECTION 6. WITHDRAWAL FROM THE PLAN
	  	4
	 (a) Withdrawal
	  	4
	 (b) Re-Enrollment After Withdrawal
	  	4
		
	 SECTION 7. CHANGE IN EMPLOYMENT STATUS
	  	4
	 (a) Termination of Employment
	  	4
	 (b) Leave of Absence
	  	4
	 (c) Death
	  	5
		
	 SECTION 8. PLAN ACCOUNTS AND PURCHASE OF SHARES
	  	5
	 (a) Plan Accounts
	  	5
	 (b) Purchase Price
	  	5
	 (c) Number of Shares Purchased
	  	5
	 (d) Available Shares Insufficient
	  	5
	 (e) Issuance of Stock
	  	6
	 (f) Tax Withholding
	  	6

  

 i 

			
	 (g) Unused Cash Balances
	  	6
	 (h) Stockholder Approval
	  	6
		
	 SECTION 9. LIMITATIONS ON STOCK OWNERSHIP
	  	6
	 (a) Five Percent Limit
	  	6
	 (b) Dollar Limit
	  	7
		
	 SECTION 10. RIGHTS NOT TRANSFERABLE
	  	7
		
	 SECTION 11. NO RIGHTS AS AN EMPLOYEE
	  	7
		
	 SECTION 12. NO RIGHTS AS A STOCKHOLDER
	  	8
		
	 SECTION 13. SECURITIES LAW REQUIREMENTS
	  	8
		
	 SECTION 14. AMENDMENT OR DISCONTINUANCE
	  	8
	 (a) General Rule
	  	8
	 (b) Impact on Purchase Price
	  	8
		
	 SECTION 15. DEFINITIONS
	  	9
	 (a) Accumulation Period
	  	9
	 (b) Board
	  	9
	 (c) Code
	  	9
	 (d) Committee
	  	9
	 (e) Company
	  	9
	 (f) Compensation
	  	9
	 (g) Corporate Reorganization
	  	9
	 (h) Eligible Employee
	  	9
	 (i) Exchange Act
	  	10
	 (j) Fair Market Value
	  	10
	 (k) IPO
	  	10
	 (l) Offering Period
	  	10
	 (m) Participant
	  	10
	 (n) Participating Company
	  	10
	 (o) Plan
	  	10
	 (p) Plan Account
	  	10
	 (q) Purchase Price
	  	10
	 (r) Stock
	  	10
	 (s) Subsidiary
	  	10
		
	 SECTION 16. EXECUTION
	  	

  

 ii 

 GLASSHOUSE TECHNOLOGIES, INC.

 2010 EMPLOYEE STOCK PURCHASE PLAN 
 SECTION 1. PURPOSE OF THE PLAN. 
 The Board adopted the Plan effective as of the date of the IPO. The purpose of the Plan is to provide Eligible Employees with an opportunity to increase their proprietary interest in the success of the Company by purchasing Stock from the
Company on favorable terms and to pay for such purchases through payroll deductions. The Plan is intended to qualify for favorable tax treatment under section 423 of the Code. 
 SECTION 2. ADMINISTRATION OF THE PLAN. 
 (a) Committee Composition.
The Committee shall administer the Plan. The Committee shall consist exclusively of one or more directors of the Company, who shall be appointed by the Board. 
 (b) Committee Responsibilities. The Committee shall interpret the Plan and make all other policy decisions relating to the operation of the Plan. The Committee may adopt such rules, guidelines and
forms as it deems appropriate to implement the Plan. The Committee’s determinations under the Plan shall be final and binding on all persons. 
 SECTION 3. STOCK OFFERED UNDER THE PLAN. 
 (a) Authorized Shares. The number of
shares of Stock available for purchase under the Plan shall be                      (subject to adjustment pursuant to Subsection (b)
below). On January 1st of each year, commencing with
January 1, 2011, the aggregate number of shares of Stock available for purchase during the life of the Plan shall automatically be increased by the number equal to      of the total number of shares of Stock then
outstanding. 
 (b) Anti-Dilution Adjustments. The aggregate number of shares of Stock offered under the Plan, the
2,500-share limitation described in Section 8(c) and the price of shares that any Participant has elected to purchase shall be adjusted proportionately for any increase or decrease in the number of outstanding shares of Stock resulting from a
subdivision or consolidation of shares or the payment of a stock dividend, any other increase or decrease in such shares effected without receipt or payment of consideration by the Company, the distribution of the shares of a Subsidiary to the
Company’s stockholders, or a similar event. 
 (c) Reorganizations. Any other provision of the Plan notwithstanding,
immediately prior to the effective time of a Corporate Reorganization, the Offering Period and Accumulation Period then in progress shall terminate and shares shall be purchased pursuant to Section 8, unless the Plan is continued or assumed by
the surviving corporation or its parent corporation. The Plan shall in no event be construed to restrict in any way the Company’s right to undertake a dissolution, liquidation, merger, consolidation or other reorganization. 

 SECTION 4. ENROLLMENT AND PARTICIPATION. 
 (a) Offering Periods. While the Plan is in effect, the Committee shall determine the duration and commencement date of each Offering
Period, provided that an Offering Period shall in no event be longer than 27 months. Offering Periods may be consecutive or overlapping. 
 (b) Accumulation Periods. While the Plan is in effect, the Committee shall determine the duration and commencement date of each Accumulation Period. The Committee may determine that the first
Accumulation Period applicable to the Eligible Employees of a new Participating Company shall commence on any date specified by the Committee. 
 (c) Enrollment at IPO. Each individual who, on the day of the IPO, qualifies as an Eligible Employee shall automatically become a Participant on such day. Each Participant who was automatically
enrolled on the day of the IPO shall file the prescribed enrollment form with the Company. The enrollment form shall be filed at the prescribed location within 10 business days after the Company filed a registration statement on Form S-8 for
the shares of Stock offered under the Plan. If a Participant who was automatically enrolled on the day of the IPO fails to file such form in a timely manner, then such Participant shall be deemed to have withdrawn from the Plan under
Section 6(a). A former Participant who is deemed to have withdrawn from the Plan shall not be a Participant until he or she re-enrolls in the Plan under Subsection (d) below. Re-enrollment may be effective only at the commencement of an
Offering Period. 
 (d) Enrollment After IPO. In the case of any individual who qualifies as an Eligible Employee on the
first day of any Offering Period other than the first Offering Period, he or she may elect to become a Participant on such day by filing the prescribed enrollment form with the Company. The enrollment form shall be filed at the prescribed location
not later than such day. 
 (e) Duration of Participation. Once enrolled in the Plan, a Participant shall continue to
participate in the Plan until he or she: 
 (i) Reaches the end of the Accumulation Period in which his or her
employee contributions were discontinued under Section 5(d) or 9(b); 
 (ii) Is deemed to withdraw from the
Plan under Subsection (c) above; 
 (iii) Withdraws from the Plan under Section 6(a); or 
 (iv) Ceases to be an Eligible Employee. 
  

 2 

 A Participant whose employee contributions were discontinued automatically under Section 9(b) shall
automatically resume participation at the beginning of the earliest Accumulation Period ending in the next calendar year, if he or she then is an Eligible Employee. In all other cases, a former Participant may again become a Participant, if he or
she then is an Eligible Employee, by following the procedure described in Subsection (d) above. 
 (f) Applicable
Offering Period. For purposes of calculating the Purchase Price under Section 8(b), the applicable Offering Period shall be determined as follows: 
 (i) Once a Participant is enrolled in the Plan for an Offering Period, such Offering Period shall continue to apply to him or her until the earliest of (A) the end of such Offering Period,
(B) the end of his or her participation under Subsection (e) above or (C) re-enrollment for a subsequent Offering Period under Paragraph (ii), (iii) or (iv) below. 
 (ii) In the event that the Fair Market Value of Stock on the last trading day before the commencement of the Offering Period
for which the Participant is enrolled is higher than on the last trading day before the commencement of any subsequent Offering Period, the Participant shall automatically be re-enrolled for such subsequent Offering Period. 
 (iii) If Section 14(b) applies, the Participant shall automatically be re-enrolled for a new Offering Period.

 (iv) Any other provision of the Plan notwithstanding, the Company (at its sole discretion) may determine prior
to the commencement of any new Offering Period that all Participants shall be re-enrolled for such new Offering Period. 
 (v) When a Participant reaches the end of an Offering Period but his or her participation is to continue, then such Participant shall automatically be re-enrolled for the Offering Period that commences immediately after the end of the prior
Offering Period. 
 SECTION 5. EMPLOYEE CONTRIBUTIONS. 
 (a) Commencement of Payroll Deductions. A Participant may purchase shares of Stock under the Plan solely by means of payroll deductions. Payroll deductions shall commence as soon as reasonably
practicable after the Company has received the prescribed enrollment form. 
 (b) Amount of Payroll Deductions. An
Eligible Employee shall designate on the enrollment form the portion of his or her Compensation that he or she elects to have withheld for the purchase of Stock. Such portion shall be a whole percentage of the Eligible Employee’s Compensation,
but not less than 1% nor more than 15%. 
  

 3 

 (c) Changing Withholding Rate. If a Participant wishes to change the rate of payroll
withholding, he or she may do so by filing a new enrollment form with the Company at the prescribed location at any time. The new withholding rate shall be effective as soon as reasonably practicable after the Company has received such form. The new
withholding rate shall be a whole percentage of the Eligible Employee’s Compensation, but not less than 1% nor more than 15%. 
 (d) Discontinuing Payroll Deductions. If a Participant wishes to discontinue employee contributions entirely, he or she may do so by filing a new enrollment form with the Company at the prescribed location at any time. Payroll
withholding shall cease as soon as reasonably practicable after the Company has received such form. (In addition, employee contributions may be discontinued automatically pursuant to Section 9(b).) A Participant who has discontinued employee
contributions may resume such contributions by filing a new enrollment form with the Company at the prescribed location. Payroll withholding shall resume as soon as reasonably practicable after the Company has received such form. 
 (e) Limit on Number of Elections. No Participant shall make more than one election under Subsection (c) or (d) above during
any Accumulation Period. 
 SECTION 6. WITHDRAWAL FROM THE PLAN. 
 (a) Withdrawal. A Participant may elect to withdraw from the Plan by filing the prescribed form with the Company at the prescribed
location at any time before the last day of an Accumulation Period. As soon as reasonably practicable thereafter, payroll deductions shall cease and the entire amount credited to the Participant’s Plan Account shall be refunded to him or her in
cash, without interest. No partial withdrawals shall be permitted. 
 (b) Re-Enrollment After Withdrawal. A former
Participant who has withdrawn from the Plan shall not be a Participant until he or she re-enrolls in the Plan under Section 4(d). Re-enrollment may be effective only at the commencement of an Offering Period. 
 SECTION 7. CHANGE IN EMPLOYMENT STATUS. 
 (a) Termination of Employment. Termination of employment as an Eligible Employee for any reason, including death, shall be treated as an automatic withdrawal from the Plan under Section 6(a).
(A transfer from one Participating Company to another shall not be treated as a termination of employment.) 
 (b) Leave of
Absence. For purposes of the Plan, employment shall not be deemed to terminate when the Participant goes on a military leave, a sick leave or another bona fide leave of absence, if the leave was approved by the Company in writing.
Employment, however, shall be deemed to terminate 90 days after the Participant goes on a leave, unless a contract or statute guarantees his or her right to return to work. Employment shall be deemed to terminate in any event when the approved leave
ends, unless the Participant immediately returns to work. 
  

 4 

 (c) Death. In the event of the Participant’s death, the amount credited to his
or her Plan Account shall be paid to a beneficiary designated by him or her for this purpose on the prescribed form or, if none, to the Participant’s estate. Such form shall be valid only if it was filed with the Company at the prescribed
location before the Participant’s death. 
 SECTION 8. PLAN ACCOUNTS AND PURCHASE OF SHARES. 
 (a) Plan Accounts. The Company shall maintain a Plan Account on its books in the name of each Participant. Whenever an amount is
deducted from the Participant’s Compensation under the Plan, such amount shall be credited to the Participant’s Plan Account. Amounts credited to Plan Accounts shall not be trust funds and may be commingled with the Company’s general
assets and applied to general corporate purposes. No interest shall be credited to Plan Accounts. 
 (b) Purchase Price.
The Purchase Price for each share of Stock purchased at the close of an Accumulation Period shall be the lower of: 
 (i) 85% of the Fair Market Value of such share on the last trading day before the commencement of the applicable Offering Period (as determined under Section 4(f)) or, in the case of the first Offering Period under the Plan, 85% of the
price at which one share of Stock is offered to the public in the IPO; or 
 (ii) 85% of the Fair Market Value of
such share on the last trading day in such Accumulation Period. 
 (c) Number of Shares Purchased. As of the last day of
each Accumulation Period, each Participant shall be deemed to have elected to purchase the number of shares of Stock calculated in accordance with this Subsection (c), unless the Participant has previously elected to withdraw from the Plan in
accordance with Section 6(a). The amount then in the Participant’s Plan Account shall be divided by the Purchase Price, and the number of shares that results shall be purchased from the Company with the funds in the Participant’s Plan
Account. The foregoing notwithstanding, no Participant shall purchase more than 2,500 shares of Stock with respect to any Accumulation Period nor more than the amounts of Stock set forth in Sections 3(a) and 9(b). The Committee may determine
with respect to all Participants that any fractional share, as calculated under this Subsection (c), shall be (i) rounded down to the next lower whole share or (ii) credited as a fractional share. 
 (d) Available Shares Insufficient. In the event that the aggregate number of shares that all Participants elect to purchase during an
Accumulation Period exceeds the maximum number of shares remaining available for issuance under Section 3, then the number of shares to which each Participant is entitled shall be determined by multiplying the number of shares available for
issuance by a fraction. The numerator of such fraction is the number of shares that such Participant has elected to purchase, and the denominator of such fraction is the number of shares that all Participants have elected to purchase. 
  

 5 

 (e) Issuance of Stock. Certificates representing the shares of Stock purchased by a
Participant under the Plan shall be issued to him or her as soon as reasonably practicable after the close of the applicable Accumulation Period, except that the Committee may determine that such shares shall be held for each Participant’s
benefit by a broker designated by the Committee (unless the Participant has elected that certificates be issued to him or her). Shares may be registered in the name of the Participant or jointly in the name of the Participant and his or her spouse
as joint tenants with right of survivorship or as community property. 
 (f) Tax Withholding. To the extent required by
applicable federal, state, local or foreign law, a Participant shall make arrangements satisfactory to the Company for the satisfaction of any withholding tax obligations that arise in connection with the Plan. The Company shall not be required to
issue any shares of Stock under the Plan until such obligations are satisfied. 
 (g) Unused Cash Balances. An amount
remaining in the Participant’s Plan Account that represents the Purchase Price for any fractional share shall be carried over in the Participant’s Plan Account to the next Accumulation Period. Any amount remaining in the Participant’s
Plan Account that represents the Purchase Price for whole shares that could not be purchased by reason of Subsection (c) above, Section 3 or Section 9(b) shall be refunded to the Participant in cash, without interest. 
 (h) Stockholder Approval. Any other provision of the Plan notwithstanding, no shares of Stock shall be purchased under the Plan
unless and until the Company’s stockholders have approved the adoption of the Plan. 
 SECTION 9. LIMITATIONS ON STOCK OWNERSHIP. 

 (a) Five Percent Limit. Any other provision of the Plan notwithstanding, no Participant shall be granted a right to
purchase Stock under the Plan if such Participant, immediately after his or her election to purchase such Stock, would own stock possessing more than 5% of the total combined voting power or value of all classes of stock of the Company or any parent
or Subsidiary of the Company. For purposes of this Subsection (a), the following rules shall apply: 
 (i)
Ownership of stock shall be determined after applying the attribution rules of section 424(d) of the Code; 
 (ii) Each Participant shall be deemed to own any stock that he or she has a right or option to purchase under this or any other plan; and 
 (iii) Each Participant shall be deemed to have the right to purchase 2,500 shares of Stock under this Plan with respect to each Accumulation Period. 
  

 6 

 (b) Dollar Limit. Any other provision of the Plan notwithstanding, no Participant
shall purchase Stock with a Fair Market Value in excess of the following limit: 
 (i) In the case of Stock
purchased during an Offering Period that commenced in the current calendar year, the limit shall be equal to (A) $25,000 minus (B) the Fair Market Value of the Stock that the Participant previously purchased in the current calendar year
(under this Plan and all other employee stock purchase plans of the Company or any parent or Subsidiary of the Company). 
 (ii) In the case of Stock purchased during an Offering Period that commenced in the immediately preceding calendar year, the limit shall be equal to (A) $50,000 minus (B) the Fair Market Value
of the Stock that the Participant previously purchased (under this Plan and all other employee stock purchase plans of the Company or any parent or Subsidiary of the Company) in the current calendar year and in the immediately preceding calendar
year. 
 (iii) In the case of Stock purchased during an Offering Period that commenced in the second preceding
calendar year, the limit shall be equal to (A) $75,000 minus (B) the Fair Market Value of the Stock that the Participant previously purchased (under this Plan and all other employee stock purchase plans of the Company or any parent or
Subsidiary of the Company) in the current calendar year and in the two preceding calendar years. 
 For purposes of this Subsection (b),
the Fair Market Value of Stock shall be determined in each case as of the beginning of the Offering Period in which such Stock is purchased. Employee stock purchase plans not described in section 423 of the Code shall be disregarded. If a
Participant is precluded by this Subsection (b) from purchasing additional Stock under the Plan, then his or her employee contributions shall automatically be discontinued and shall automatically resume at the beginning of the earliest
Accumulation Period ending in the next calendar year (if he or she then is an Eligible Employee). 
 SECTION 10. RIGHTS NOT TRANSFERABLE.

 The rights of any Participant under the Plan, or any Participant’s interest in any Stock or moneys to which he or she
may be entitled under the Plan, shall not be transferable by voluntary or involuntary assignment or by operation of law, or in any other manner other than by beneficiary designation or the laws of descent and distribution. If a Participant in any
manner attempts to transfer, assign or otherwise encumber his or her rights or interest under the Plan, other than by beneficiary designation or the laws of descent and distribution, then such act shall be treated as an election by the Participant
to withdraw from the Plan under Section 6(a). 
 SECTION 11. NO RIGHTS AS AN EMPLOYEE. 
 Nothing in the Plan or in any right granted under the Plan shall confer upon the Participant any right to continue in the employ of a
Participating Company for any period of specific duration or interfere with or otherwise restrict in any way the rights of the Participating Companies or of the Participant, which rights are hereby expressly reserved by each, to terminate his or her
employment at any time and for any reason, with or without cause. 
  

 7 

 SECTION 12. NO RIGHTS AS A STOCKHOLDER. 
 A Participant shall have no rights as a stockholder with respect to any shares of Stock that he or she may have a right to purchase under the
Plan until such shares have been purchased on the last day of the applicable Accumulation Period. 
 SECTION 13. SECURITIES LAW REQUIREMENTS.

 Shares of Stock 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. 
 SECTION 14. AMENDMENT OR DISCONTINUANCE.

 (a) General Rule. The Board shall have the right to amend, suspend or terminate the Plan at any time and without
notice. Except as provided in Section 3, any increase in the aggregate number of shares of Stock that may be issued under the Plan shall be subject to the approval of the Company’s stockholders. In addition, any other amendment of the Plan
shall be subject to the approval of the Company’s stockholders to the extent required by any applicable law or regulation. The Plan shall terminate automatically 10 years after its adoption by the Board, unless (a) the Plan is extended by
the Board and (b) the extension is approved within 12 months by a vote of the stockholders of the Company. 
 (b) Impact
on Purchase Price. This Subsection (b) shall apply in the event that (i) the Company’s stockholders during an Accumulation Period approve an increase in the number of shares of Stock that may be issued under Section 3 and
(ii) the aggregate number of shares to be purchased at the close of such Accumulation Period exceeds the number of shares that remained available under Section 3 before such increase. In such event, the Purchase Price for each share of
Stock purchased at the close of such Accumulation Period shall be the lower of: 
 (i) The higher of (A) 85%
of the Fair Market Value of such share on the last trading day before the commencement of the applicable Offering Period or, in the case of the first Offering Period under the Plan, 85% of the price at which one share of Stock is offered to the
public in the IPO or (B) 85% of the Fair Market Value of such share on the last trading day before the date when the Company’s stockholders approve such increase; or 
 (ii) 85% of the Fair Market Value of such share on the last trading day in such Accumulation Period. 
 Immediately after the close of such Accumulation Period, a new Offering Period shall commence for all Participants. 
  

 8 

 SECTION 15. DEFINITIONS. 
 (a) “Accumulation Period” means a period during which contributions may be made toward the purchase of Stock under the Plan,
as determined pursuant to Section 4(b). 
 (b) “Board” means the Board of Directors of the Company, as
constituted from time to time. 
 (c) “Code” means the Internal Revenue Code of 1986, as amended. 

(d) “Committee” means a committee of the Board, as described in Section 2. 
 (e) “Company” means GlassHouse Technologies, Inc., a Delaware corporation. 
 (f) “Compensation” means (i) the total compensation paid in cash to a Participant by a Participating Company,
including salaries, wages, bonuses, incentive compensation, commissions, overtime pay and shift premiums, plus (ii) any pre-tax contributions made by the Participant under section 401(k) or 125 of the Code. “Compensation” shall
exclude all non-cash items, moving or relocation allowances, cost-of-living equalization payments, car allowances, tuition reimbursements, imputed income attributable to cars or life insurance, severance pay, fringe benefits, contributions or
benefits received under employee benefit plans, income attributable to the exercise of stock options, and similar items. The Committee shall determine whether a particular item is included in Compensation. 
 (g) “Corporate Reorganization” means: 
 (i) The consummation of a merger or consolidation of the Company with or into another entity or any other corporate
reorganization; or 
 (ii) The sale, transfer or other disposition of all or substantially all of the
Company’s assets or the complete liquidation or dissolution of the Company. 
 (h) “Eligible Employee”
means any employee of a Participating Company who meets both of the following requirements: 
 (i) His or her
customary employment is for more than five months per calendar year and for more than 20 hours per week; and 
 (ii) He or she has been an employee of a Participating Company for such period as the Committee may determine before the beginning of the applicable Offering Period. 
 The foregoing notwithstanding, an individual shall not be considered an Eligible Employee if his or her participation in the Plan is prohibited by the law of any country that has jurisdiction over him or
her or if he or she is subject to a collective bargaining agreement that does not provide for participation in the Plan. 
  

 9 

 (i) “Exchange Act” means the Securities Exchange Act of 1934, as amended.

 (j) “Fair Market Value” means the market price of Stock, determined by the Committee as follows: 

(i) If the Stock was traded on The New York Stock Exchange on the date in question, then the Fair Market Value shall be
equal to the last-transaction price quoted for such date by such exchange; 
 (ii) If the Stock was traded on a
stock exchange on the date in question, then the Fair Market Value shall be equal to the closing price reported by the applicable composite transactions report for such date; or 
 (iii) If none of the foregoing provisions is applicable, then the Committee shall determine the Fair Market Value in good
faith on such basis as it deems appropriate. 
 Whenever possible, the determination of Fair Market Value by the Committee shall be based on the
prices reported in The Wall Street Journal or as reported directly to the Company by Nasdaq or a stock exchange. Such determination shall be conclusive and binding on all persons. 
 (k) “IPO” means the effective date of the registration statement filed by the Company with the Securities and Exchange
Commission for its initial offering of Stock to the public. 
 (l) “Offering Period” means a period with
respect to which the right to purchase Stock may be granted under the Plan, as determined pursuant to Section 4(a). 
 (m)
“Participant” means an Eligible Employee who participates in the Plan, as provided in Section 4. 
 (n)
“Participating Company” means (i) the Company and (ii) each present or future Subsidiary designated by the Committee as a Participating Company. 
 (o) “Plan” means this GlassHouse Technologies, Inc. 2010 Employee Stock Purchase Plan, as it may be amended from time to
time. 
 (p) “Plan Account” means the account established for each Participant pursuant to Section 8(a).

 (q) “Purchase Price” means the price at which Participants may purchase Stock under the Plan, as determined
pursuant to Section 8(b). 
 (r) “Stock” means the Common Stock of the Company. 
 (s) “Subsidiary” means any corporation (other than the Company) in an unbroken chain of corporations beginning with the
Company, if each of the corporations other than the last corporation in the unbroken chain owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain. 
  

 10Form of Notice of Stock Option Grant and Stock Option Agreement

 Exhibit 10.16 
 GlassHouse Technologies, Inc. 
 Amended and Restated
2001 Stock Option and Grant Plan 
 Notice of Stock Option Grant 
 (Reverse Vesting) 
 You have been granted the following option to purchase shares of the Common Stock of GlassHouse Technologies, Inc. (the “Company”): 
  

					
	Name of Optionee:	  	«Name»
		
	Total Number of Shares:	  	«TotalShares»
			
	Type of Option:	  	«ISO»        	  	Incentive Stock Option (ISO)
			
		  	«NSO»	  	Nonstatutory Stock Option (NSO)
		
	Exercise Price Per Share:	  	$«PricePerShare»
		
	Date of Grant:	  	«DateGrant»
		
	Date Exercisable:	  	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 twelve (12) months of continuous
Service after the Vesting Commencement Date. The Right of Repurchase shall lapse with respect to an additional 6.25% of the Shares subject to this option when the Optionee completes each calendar quarter of continuous Service
thereafter.
		
	Expiration Date:	  	«ExpDate». This option expires earlier if the Optionee’s Service terminates earlier, as provided in Section 6 of the Stock Option
Agreement.

 By your signature and the signature of the Company’s representative below, you and the Company
agree that this option is granted under and governed by the terms and conditions of the Amended and Restated 2001 Stock Option and Grant Plan and the Stock Option Agreement, both of which are attached to and made a part of this document. 

 

							
	Optionee:	 		 	GlassHouse Technologies, Inc.
				
	  
	 		 	By:	 	  

	«Name»	 		 		 	Frank Capecci
		 		 		 	Vice President – Human Resources

 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. 
 GlassHouse Technologies, Inc. 
 Amended and Restated 2001 Stock Option and Grant 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 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 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 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. 
 (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. 
  

 2 

 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(c). 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. 
 (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, (ii) in the names of such person and his or her spouse as community property or as joint
tenants with the right of survivorship or (iii) with the Company’s consent, in the name of a revocable trust. 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. 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 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. 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 on the date when this option is exercised. The Optionee shall not surrender, or attest
to the ownership of, Shares in payment of the Purchase Price if such action would cause the Company to recognize compensation expense (or additional compensation expense) with respect to this option for financial reporting purposes. 
 (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. 
 (d)
Exercise/Pledge. 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 pledge Shares to a securities broker or lender approved by the
Company, as security for a loan, and to deliver all or part of the loan proceeds to the Company. However, payment pursuant to this Subsection (d) 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 (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 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 
 (iii) The date twelve 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 vested Shares 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 exercisable and with respect to any Restricted Shares. 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, 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 twelve 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, bequest or
inheritance, but only to the extent that this option is 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 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

  

 4 

 
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 
 (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 an amount equal to the Exercise Price for each of the Restricted Shares being repurchased. 
 (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. 
  

 5 

 (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(c) 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 properly endorsed for transfer. 
 (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

  

 6 

 
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 or state 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 and state 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 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.

  

 7 

 (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. 
 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 federal, 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. 
 (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, 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 any other law. 
 (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, 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

  

 8 

 
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 underwriters. 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 underwriters. In no event, however, shall such period exceed 180 days. 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, and the Optionee or a
Transferee shall be subject to this Subsection (b) only if the directors and officers of the Company are subject to similar arrangements. 
 (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 which 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 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 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.” 
  

 9 

 (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. 
 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) 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, by registered or certified mail, with
postage and fees prepaid or (iii) deposit with Federal Express Corporation, 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) which 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. 
  

 10 

 SECTION 14. 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 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 GlassHouse Technologies, 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
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. 
 (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. 
 (j) “Exercise Price” shall mean the amount for
which one Share may be purchased 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) “Notice of Stock Option Grant” shall mean the document so entitled to which this Agreement is attached. 
 (o) “NSO” shall mean a stock option not described in Sections 422(b) or 423(b) of the Code. 
 (p) “Optionee” shall mean the person named in the Notice of Stock Option Grant. 
 (q)
“Outside Director” shall mean a member of the Board of Directors who is not an Employee. 
  

 11 

 (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.

 (s) “Plan” shall mean the GlassHouse Technologies, Inc. Amended and Restated 2001 Stock Option and Grant
Plan, as in effect on the Date of Grant. 
 (t) “Purchase Price” shall mean the Exercise Price multiplied by
the number of Shares with respect to which this option is being exercised. 
 (u) “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. 
 (v) “Restricted Share” shall mean a Share that is subject to the Right of Repurchase. 
 (w) “Right of First Refusal” shall mean the Company’s right of first refusal described in Section 8. 

(x) “Right of Repurchase” shall mean the Company’s right of repurchase described in Section 7. 
 (y) “Securities Act” shall mean the Securities Act of 1933, as amended. 
 (z) “Service” shall mean service as an Employee, Outside Director or Consultant. 
 (aa) “Share” shall mean one share of Stock, as adjusted in accordance with Section 8 of the Plan (if applicable).

 (bb) “Stock” shall mean the Common Stock of the Company, with a par value of $0.001 per Share. 

(cc) “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.

 (dd) “Transferee” shall mean any person to whom the Optionee has directly or indirectly transferred any
Share acquired under this Agreement. 
 (ee) “Transfer Notice” shall mean the notice of a proposed transfer of
Shares described in Section 8. 
  

 12

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00167-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00167-of-00352.parquet"}]]