Document:

EX-10.22

 Exhibit 10.22 
 FORM OF SUBORDINATION AGREEMENT 
 This Subordination Agreement (this
“Agreement”) is made as of [Date] by and among each of the undersigned creditors (individually, a “Creditor” and, collectively, the “Creditors”), and Comerica Bank (“Bank”).

 Recitals 
 A. Violin Memory, Inc. (the “Borrower”), has requested and/or obtained certain loans or other credit accommodations from Bank which are or may be from time to time secured by assets and
property of Borrower. 
 B. Creditors have extended loans or other credit accommodations to Borrower, and/or may extend loans or
other credit accommodations to Borrower from time to time. 
 C. In order to induce Bank to extend credit to Borrower and, at
any time or from time to time, at Bank’s option, to make such further loans, extensions of credit, or other accommodations to or for the account of Borrower, or to purchase or extend credit upon any instrument or writing in respect of which
Borrower may be liable in any capacity, or to grant such renewals or extension of any such loan, extension of credit, purchase, or other accommodation as Bank may deem advisable, each Creditor is willing to subordinate: (i) all of
Borrower’s indebtedness and obligations to such Creditor (collectively, the “Subordinated Debt”), whether presently existing or arising in the future, including without limitation all of Borrower’s indebtedness and
obligations to each Creditor under all convertible promissory notes issued by Borrower to any Creditor at any time (collectively, the “Subordinated Notes” and each individually, a “Subordinated Note”) to all of
Borrower’s indebtedness to Bank; and (ii) all of each Creditor’s security interests, if any, to all of Bank’s security interests in the Borrower’s property. Notwithstanding the foregoing or anything to the contrary contained
in this Agreement, Bank and each Creditor acknowledge and agree that any equity securities, including any shares of Borrower’s common stock or preferred stock, issued by Borrower to Creditors in connection with or as a result of the conversion
of the Subordinated Notes, or any of them (collectively, “Equity Securities”), shall not be deemed “Subordinated Debt” for purposes of this Agreement. 

NOW, THEREFORE, THE PARTIES AGREE AS FOLLOWS: 
 1. Each Creditor subordinates to Bank any security interest or lien that such Creditor may have in any property of Borrower. Notwithstanding the respective dates of attachment or perfection of the
security interest of any Creditor and the security interest of Bank, the security interest of Bank in the Collateral, as defined in that certain Loan and Security Agreement between Borrower and Bank, dated as of July 18, 2013 (as amended,
restated, supplemented or replaced from time to time, the “Loan Agreement”), shall at all times be prior to the security interest of the Creditors. 
 2. All Subordinated Debt is subordinated in right of payment to all obligations of Borrower to Bank now existing or hereafter arising, together with all costs of collecting such

 
obligations (including attorneys’ fees), including, without limitation, all interest accruing after the commencement by or against Borrower of any bankruptcy, reorganization or similar
proceeding, and all obligations under the Loan Agreement (the “Senior Debt”). 
 3. No Creditor will demand or
receive from Borrower (and Borrower will not pay to any Creditor) all or any part of the Subordinated Debt, by way of payment, prepayment, setoff, lawsuit or otherwise, nor will any Creditor exercise any remedy with respect to the Collateral, nor
will any Creditor commence, or cause to commence, prosecute or participate in any administrative, legal or equitable action against Borrower, for so long as any portion of the Senior Debt remains outstanding. Notwithstanding the foregoing, any
Subordinated Note may be converted into Equity Securities of Borrower on the terms and conditions set forth therein. 
 4. Other
than any Equity Securities received by Creditors in connection with the conversion of the Subordinated Notes, or any of them, each Creditor shall promptly deliver to Bank in the form received (except for endorsement or assignment by such Creditor
where required by Bank) for application to the Senior Debt any payment, distribution, security or proceeds received by such Creditor with respect to the Subordinated Debt other than in accordance with this Agreement. 

5. In the event of Borrower’s insolvency, reorganization or any case or proceeding under any bankruptcy or insolvency law or laws
relating to the relief of debtors, these provisions shall remain in full force and effect, and Bank’s claims against Borrower and the estate of Borrower shall be paid in full before any payment is made to any Creditor. 

6. For so long as any of the Senior Debt remains unpaid, each Creditor irrevocably appoints Bank as such Creditor’s attorney in
fact, and grants to Bank a power of attorney with full power of substitution, in the name of such Creditor or in the name of Bank, for the use and benefit of Bank, without notice to such Creditor, to perform at Bank’s option the following acts
in any bankruptcy, insolvency or similar proceeding involving Borrower: 
 (i) To file the appropriate claim or claims in respect
of the Subordinated Debt on behalf of such Creditor if such Creditor does not do so prior to 30 days before the expiration of the time to file claims in such proceeding and if Bank elects, in its sole discretion, to file such claim or claims; and

 (ii) To accept or reject any plan of reorganization or arrangement on behalf of such Creditor and to otherwise vote such
Creditor’s claims in respect of any Subordinated Debt in any manner that Bank deems appropriate for the enforcement of its rights hereunder. 
 7. For so long as any of the Senior Debt remains unpaid, each Creditor agrees that it will not, in its capacity as a creditor, object to or oppose (i) the sale of the Borrower, or (ii) the sale
or other disposition of any property of the Borrower, if Bank has consented to such sale of the Borrower or sale or disposition of any property of the Borrower. If requested by Bank in connection with the Borrower’s request for a consent to a
sale, each Creditor shall, in respect of the Subordinated Debt, affirmatively consent in its capacity as a creditor to such sale or disposition and shall take all necessary actions in respect of the Subordinated Debt and execute such documents and
instruments as Bank may reasonably request in connection with and to 

  
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facilitate such sale or disposition. Notwithstanding the foregoing, each Creditor acknowledges and agrees that it shall (without regard to its capacity), after the occurrence of an Event of
Default (as defined in the Loan Agreement), consent to a sale or disposition of the Borrower’s assets and shall take all necessary actions and execute such documents and instruments as Bank may reasonably request. 

8. Each Creditor shall immediately affix a legend to the instruments evidencing the Subordinated Debt stating that the instruments are
subject to the terms of this Agreement. No amendment of the documents evidencing or relating to the Subordinated Debt shall directly or indirectly modify the provisions of this Agreement in any manner which might terminate or impair the
subordination of the Subordinated Debt or the subordination of the security interest or lien that any Creditor may have in any property of Borrower. By way of example, such instruments shall not be amended to (i) increase the rate of interest
with respect to the Subordinated Debt, or (ii) accelerate the payment of the principal or interest or any other portion of the Subordinated Debt. 
 9. This Agreement shall remain effective for so long as Borrower owes any amounts to Bank under the Loan Agreement or otherwise. If, at any time after payment in full of the Senior Debt any payments of
the Senior Debt must be disgorged by Bank for any reason (including, without limitation, the bankruptcy of Borrower), this Agreement and the relative rights and priorities set forth herein shall be reinstated as to all such disgorged payments as
though such payments had not been made and each Creditor shall immediately pay over to Bank all payments received with respect to the Subordinated Debt (other than any Equity Securities received by such Creditor in connection with the conversion of
the Subordinated Notes, or any of them) to the extent that such payments would have been prohibited hereunder. At any time and from time to time, without notice to any Creditor, Bank may take such actions with respect to the Senior Debt as Bank, in
its sole discretion, may deem appropriate, including, without limitation, terminating advances to Borrower, increasing the principal amount, extending the time of payment, increasing applicable interest rates, renewing, compromising or otherwise
amending the terms of any documents affecting the Senior Debt and any collateral securing the Senior Debt, and enforcing or failing to enforce any rights against Borrower or any other person. No such action or inaction shall impair or otherwise
affect Bank’s rights hereunder. Each Creditor waives the benefits, if any, of Civil Code sections 2799, 2808, 2809, 2810, 2815, 2819, 2820, 2821, 2822, 2838, 2839, 2845, 2847, 2848, 2849, 2850, 2899 and 3433. 

10. This Agreement shall bind any successors or assignees of the Creditors and shall benefit any successors or assigns of Bank. This
Agreement is solely for the benefit of the Creditors and Bank and not for the benefit of Borrower or any other party. Each Creditor further agrees that if Borrower is in the process of refinancing a portion of the Senior Debt with a new lender, and
if Bank makes a request of such Creditor, such Creditor shall agree to enter into a new subordination agreement with the new lender on substantially the terms and conditions of this Agreement. 

11. Each Creditor authorizes Bank to file with any applicable federal, state or local municipality or government agency any UCC-3
financing statement amendment as to any of such Creditor’s UCC-1 financing statements filed against Borrower, to evidence the subordination set forth in this Agreement. 

  
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 12. This Agreement may be executed in two or more counterparts, each of which shall be
deemed an original and all of which together shall constitute one instrument. 
 13. This Agreement shall be governed by and
construed in accordance with the laws of the State of California, without giving effect to conflicts of laws principles. Each Creditor and Bank each hereby submit to the exclusive jurisdiction of the state and Federal courts located in California.
THE UNDERSIGNED ACKNOWLEDGE THAT THE RIGHT TO TRIAL BY JURY IS A CONSTITUTIONAL ONE, BUT THAT IT MAY BE WAIVED UNDER CERTAIN CIRCUMSTANCES. TO THE EXTENT PERMITTED BY LAW, EACH PARTY, AFTER CONSULTING (OR HAVING HAD THE OPPORTUNITY TO CONSULT) WITH
COUNSEL OF ITS, HIS OR HER CHOICE, KNOWINGLY AND VOLUNTARILY, AND FOR THE MUTUAL BENEFIT OF ALL PARTIES, WAIVES ANY RIGHT TO TRIAL BY JURY IN THE EVENT OF LITIGATION ARISING OUT OF OR RELATED TO THIS AGREEMENT OR ANY OTHER DOCUMENT, INSTRUMENT OR
AGREEMENT BETWEEN THE UNDERSIGNED PARTIES. 
 14. JUDICIAL REFERENCE PROVISION. 

(a) In the event the Jury Trial Waiver set forth above is not enforceable, the parties elect to proceed under this Judicial Reference
Provision. 
 (b) With the exception of the items specified in clause (c), below, any controversy, dispute or claim (each, a
“Claim”) between the parties arising out of or relating to this Agreement or any other document, instrument or agreement between the undersigned parties (collectively in this Section, the “Loan Documents”), will be
resolved by a reference proceeding in California in accordance with the provisions of Sections 638 et seq. of the California Code of Civil Procedure (“CCP”), or their successor sections, which shall constitute the exclusive remedy
for the resolution of any Claim, including whether the Claim is subject to the reference proceeding. Except as otherwise provided in the Loan Documents, venue for the reference proceeding will be in the Superior Court in the County where the real
property involved in the action, if any, is located or in a County where venue is otherwise appropriate under applicable law (the “Court”). 
 (c) The matters that shall not be subject to a reference are the following: (i) foreclosure of any security interests in real or personal property, (ii) exercise of selfhelp remedies (including,
without limitation, set-off), (iii) appointment of a receiver and (iv) temporary, provisional or ancillary remedies (including, without limitation, writs of attachment, writs of possession, temporary restraining orders or preliminary
injunctions). This Agreement does not limit the right of any party to exercise or oppose any of the rights and remedies described in clauses (i) and (ii) or to seek or oppose from a court of competent jurisdiction any of the items
described in clauses (iii) and (iv). The exercise of, or opposition to, any of those items does not waive the right of any party to a reference pursuant to this Agreement. 

(d) The referee shall be a retired Judge or Justice selected by mutual written agreement of the parties. If the parties do not agree
within ten (10) days of a written request to do so by any party, then, upon request of any party, the referee shall be selected by the Presiding Judge of the Court (or his or her representative). A request for appointment of a referee may be

  
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heard on an ex parte or expedited basis, and the parties agree that irreparable harm would result if ex parte relief is not granted. 

(e) The parties agree that time is of the essence in conducting the reference proceedings. Accordingly, the referee shall be requested,
subject to change in the time periods specified herein for good cause shown, to (i) set the matter for a status and trial-setting conference within fifteen (15) days after the date of selection of the referee, (ii) if practicable, try
all issues of law or fact within one hundred twenty (120) days after the date of the conference and (iii) report a statement of decision within twenty (20) days after the matter has been submitted for decision. 

(f) The referee will have power to expand or limit the amount and duration of discovery. The referee may set or extend discovery
deadlines or cutoffs for good cause, including a party’s failure to provide requested discovery for any reason whatsoever. Unless otherwise ordered based upon good cause shown, no party shall be entitled to “priority” in conducting
discovery, depositions may be taken by either party upon seven (7) days written notice, and all other discovery shall be responded to within fifteen (15) days after service. All disputes relating to discovery which cannot be resolved by
the parties shall be submitted to the referee whose decision shall be final and binding. 
 (g) Except as expressly set forth in
this Agreement, the referee shall determine the manner in which the reference proceeding is conducted including the time and place of hearings, the order of presentation of evidence, and all other questions that arise with respect to the course of
the reference proceeding. All proceedings and hearings conducted before the referee, except for trial, shall be conducted without a court reporter, except that when any party so requests, a court reporter will be used at any hearing conducted before
the referee, and the referee will be provided a courtesy copy of the transcript. The party making such a request shall have the obligation to arrange for and pay the court reporter. Subject to the referee’s power to award costs to the
prevailing party, the parties will equally share the cost of the referee and the court reporter at trial. 
 (h) The referee
shall be required to determine all issues in accordance with existing case law and the statutory laws of the State of California. The rules of evidence applicable to proceedings at law in the State of California will be applicable to the reference
proceeding. The referee shall be empowered to enter equitable as well as legal relief, enter equitable orders that will be binding on the parties and rule on any motion which would be authorized in a court proceeding, including without limitation
motions for summary judgment or summary adjudication. The referee shall issue a decision at the close of the reference proceeding which disposes of all claims of the parties that are the subject of the reference. Pursuant to CCP § 644, such
decision shall be entered by the Court as a judgment or an order in the same manner as if the action had been tried by the Court and any such decision will be final, binding and conclusive. The parties reserve the right to appeal from the final
judgment or order or from any appealable decision or order entered by the referee. The parties reserve the right to findings of fact, conclusions of laws, a written statement of decision, and the right to move for a new trial or a different
judgment, which new trial, if granted, is also to be a reference proceeding under this provision. 

  
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 (i) If the enabling legislation which provides for appointment of a referee is repealed (and
no successor statute is enacted), any dispute between the parties that would otherwise be determined by reference procedure will be resolved and determined by arbitration. The arbitration will be conducted by a retired judge or Justice, in
accordance with the California Arbitration Act §1280 through §1294.2 of the CCP as amended from time to time. The limitations with respect to discovery set forth above shall apply to any such arbitration proceeding. 

(j) THE PARTIES RECOGNIZE AND AGREE THAT ALL CONTROVERSIES, DISPUTES AND CLAIMS RESOLVED UNDER THIS REFERENCE PROVISION WILL BE DECIDED
BY A REFEREE AND NOT BY A JURY. AFTER CONSULTING (OR HAVING HAD THE OPPORTUNITY TO CONSULT) WITH COUNSEL OF ITS, HIS OR HER OWN CHOICE, EACH PARTY KNOWINGLY AND VOLUNTARILY, AND FOR THE MUTUAL BENEFIT OF ALL PARTIES, AGREES THAT THIS REFERENCE
PROVISION WILL APPLY TO ANY CONTROVERSY, DISPUTE OR CLAIM BETWEEN OR AMONG THEM ARISING OUT OF OR IN ANY WAY RELATED TO, THIS AGREEMENT OR THE OTHER LOAN DOCUMENTS. 
 15. This Agreement represents the entire agreement with respect to the subject matter hereof, and supersedes all prior negotiations, agreements and commitments. No Creditor is relying on any
representations by Bank or Borrower in entering into this Agreement, and each Creditor has kept and will continue to keep itself fully apprised of the financial and other condition of Borrower. This Agreement may be amended only by written
instrument signed by the Creditors and Bank. 
 16. In the event of any legal action to enforce the rights of a party under this
Agreement, the party prevailing in such action shall be entitled, in addition to such other relief as may be granted, all reasonable costs and expenses, including reasonable attorneys’ fees, incurred in such action. 

[Remainder of page left intentionally blank; Signature page follows.] 

  
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 IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first above
written. 
  

			
	 “Creditor”
  

[                         
                                         
              ]

		
	By:	 	 
	Name:	 	 
	Title:	 	 

  

			
	 “Bank”
  

COMERICA BANK

		
	By:	 	 
	Name:	 	 
	Title:	 	 

 The undersigned approves of the terms of this Agreement. 

 

			
	 “Borrower”
  

VIOLIN MEMORY, INC.

		
	By:	 	 
	Name:	 	 
	Title:	 	 

  
 7EX-10.23

 Exhibit 10.23 
 Confidential Treatment Requested. Confidential portions of this document have been redacted and have been separately filed with the commission. 

PCIe Card Development Agreement 
 Between 
 Toshiba Corporation 

And 

Violin Memory, Inc. 

  
  

					
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 Confidential Treatment Requested. Confidential portions of this document have been
redacted and have been separately filed with the commission. 
  

 PCIe Card Development Agreement 

This Agreement (“Agreement”) is entered into and is effective as of July 16, 2013 (the “Effective Date”), by and between Violin
Memory, Inc. having its principal place of business at 685 Clyde Avenue, Mountain View, CA 94043, USA (hereinafter called “Violin”), and Toshiba Corporation having its principal place of business at 1-1 Shibaura 1-Chome, Shibaura,
Minato-ku, Tokyo 105-8001, Japan (hereinafter called “Toshiba”). 
 WHEREAS, Violin is engaged in the development of a PCIe card;

 WHEREAS, Toshiba desires Violin to develop a derivative product to Violin’s PCle card which complies with the Specification, and Violin
desires to provide such development service to Toshiba. 
 THEREFORE, the parties agree as follows: 

 

	1.	Definitions 

 Unless the context otherwise
requires, terms defined in this Section 1 and elsewhere, parenthetically, in this Agreement, shall have the same meaning throughout the Agreement. Defined terms may be used in the singular or plural: 

 

	1.1	“Affiliates” shall mean any corporation, company or other legal entity that now or hereafter controls, or is controlled by, or is under common control
with, Toshiba or Violin (as the case may be), so long as such ownership or control exists; where “control” means the ownership or control, directly or indirectly, of more than fifty percent (50%) of the outstanding shares or
securities or ownership interest representing the right to vote for the election of directors or other managing authority. 

  

	1.2	“Confidential Information” shall mean any information, including, but not limited to the terms and conditions of this Agreement, processes,
know-how, designs, specifications, formulas, netlists, developmental or experimental work, prototypes, computer programs, lists, business plans or financial information, a party receives from the other party (i) in written, recorded, graphical,
electrical or other tangible form which is marked as “Confidential” or with similar legend, and/or (ii) orally or in other intangible form, identified as Confidential at the time of disclosure and confirmed as Confidential Information
in writing within thirty (30) days of its initial disclosure. 

  

	1.3	“Deliverables” shall mean the items listed in Appendix B. 

 

	1.4	“Developmental Samples” shall mean the samples of the Product developed under this Agreement in accordance with the Specification and which is provided
by Violin to Toshiba for the purpose of acceptance by Toshiba in accordance with Section 2.2. 

  

	1.5	“Design Materials” shall mean the data sheet and users guide. 

  
  

					
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 Confidential Treatment Requested. Confidential portions of this document have been
redacted and have been separately filed with the commission. 
 *** Confidential material redacted and
filed separately with the Commission. 
  

	1.6	“Driver Software” shall mean the PCIe card driver software in object code to be provided by Violin to Toshiba on a separate media or downloaded from a
website and which may only be loaded and executed on the host server that controls the Product. Driver Software (and Product firmware) is licensed (not sold) and should be treated as Violin Confidential Information. 

 

	1.7	“Intellectual Property Rights” means any patents, patent rights, trade marks, service marks, registered designs, topography or semiconductor maskwork
rights, applications and the right to apply for any of the foregoing, copyright, know-how, unregistered design right, trade secrets and know-how, and any other similar protected rights in any country. 

 

	1.8	“Product” shall mean each of the following PCIe cards to be developed by Violin in accordance with the Specification based on Violin’s existing
and future PCIe card: 

 *** 
  

	1.9	“Specifications” shall mean the engineering, operational and/or functional descriptions, details and requirements, the details of which are as set
forth in Appendix A which reflect the additional features and enhancements requested by Toshiba. 

  

	1.10	“1st Samples” shall mean the samples of the Product of which Toshiba has confirmed the development is completed, and provided by Violin to Toshiba for
internal use solely for the purpose of design verification and evaluation by Toshiba. 

  

	1.11	“2nd Samples” shall mean the samples of the Product of which Toshiba has confirmed the development is completed, and provided by Violin to Toshiba for
the purpose of evaluation by Toshiba’s customer. 

  

	2.	Development and Acceptance 

  

	2.1	Subject to the payment of the NRE Fee, Violin will perform the development service of the Products in accordance with the development schedule as set forth in
Appendix B (“Services”), and deliver the Deliverables that meet the Specifications in accordance with the schedule set forth in Appendix B. 

 

	2.2	 Within *** after receipt of each Product’s Developmental Samples (“Acceptance Period”), Toshiba shall test the Developmental
Samples against the Specifications, internally with its own test tool and environment. Before the end of the Acceptance Period, Toshiba shall provide Violin with a written notice of acceptance of the Developmental Samples or a written notice of
rejection that specifies reasons for Toshiba’s rejection. Developmental Samples may be rejected only if they do not comply with the applicable Specifications in any commercially material respect. If Toshiba does not send such a notice of
rejection that is received by Violin during the Acceptance Period (or if Toshiba orders any 1st Samples or
2nd Samples under Section 2.5), the Developmental
Samples, as the case may be, shall be deemed accepted for the relevant 

  
  

					
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Product. Upon Toshiba’s acceptance under this Section 2.2, the development service for such Product will be completed. 

 

	2.3	If, as the result of the test under Section 2.2, Toshiba rejects the Developmental Samples, Toshiba shall promptly notify Violin and provide Violin with all
available information in written or electronic form so that Violin can reproduce the error. Subject to Violin’s compliance with the Schedule, Violin will be given reasonably adequate time and opportunity to evaluate the information provided by
Toshiba and to verify any perceived deficiency. 

  

	2.4	If the Developmental Samples were rejected by Toshiba under Section 2.2, Violin shall promptly either correct the problem or generate new Developmental Samples at
Violin’s own cost and re-deliver the corrected or new Developmental Samples for Toshiba’s acceptance as set forth in Section 2.2, unless such error is solely attributable to Toshiba. 

 

	2.5	Upon completion of the development service for each Product, Toshiba may order Violin to deliver the 1st Samples and 2nd Samples for such Product in accordance with the
quantity provided in Appendix B. Upon delivery of each 1st Sample and 2nd Sample, Toshiba shall perform an incoming inspection to confirm whether (i) the delivered quantity and Product conform with the order, and (ii) the delivered
Products are damaged, and notify Violin whether Toshiba accepts or (if the delivery does not conform with (i) or (ii)) rejects the delivery. 

  

	3.	Price and Payment 

  

	3.1	With respect to the development Services and delivery of Products described herein, Toshiba shall pay Violin the non-recurring engineering fees of *** U.S. Dollars
(US$***) (“NRE Fee”) within ten (10) days from the receipt of invoice to be issued by Violin upon execution of this Agreement. 

 

	    	NRE Fee shall be comprised of the following three components: 

  

	 	(1)	US$ *** for the development services fees (“Development Service Fee”) 

 

	 	(2)	US$ *** for sample fees of the 1st Samples (“1st Sample Fee”) 

 

	 	(3)	US$ *** for sample fees of the 2nd Samples (“2nd Sample Fee”) 

 Further, the Development Service Fee shall be allocated to each Product as follows (each “Individual Development Service Fee”): 

*** 
  

	3.2	 If Violin has not been able to deliver the Developmental Samples for each Product by August 31, 2014, then, unless otherwise agreed by the
parties, Violin shall reimburse to Toshiba the Individual Development Service Fee for each such Product that is in delay, 

  
  

					
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by September 15, 2014, as liquidated damages and the exclusive remedy regarding such non-delivery of Developmental Samples. 

 

	3.3	The 1st Sample Fee and 2nd Sample Fee shall be consumed by the number of units of Samples actually delivered to Toshiba from Violin multiplied by the applicable Unit
Price as provided in Appendix B. If there is any balancing amount to the 1st Sample Fee and 2nd Sample Fee as of August 31, 2014, then, unless otherwise agreed by the parties, Violin shall reimburse to Toshiba such balancing amount by
September 15, 2014, as liquidated damages and the exclusive remedy regarding such unordered 1st Samples and/or 2nd Samples. 

  

	3.4	All payments provided for in this Section 3 are exclusive of all taxes and shall be made without deduction or withholding of taxes. 

 

	4.	Intellectual Property and Title 

  

	4.1	Except for the limited rights and licenses expressly granted hereunder, no other license is granted, no other use is permitted and all rights, title and interests
(including Intellectual Property Rights) in and to the Services, Specifications, Deliverables and Products that are made, obtained or conceived by Violin in the course of developing the Products under this Agreement shall belong exclusively to
Violin. 

  

	4.2	Subject to all terms and conditions herein, Violin grants to Toshiba and its Affiliates a non-exclusive, non-transferable, royalty-free, world-wide right (with a right
to grant a sublicense solely to its customer of the 2nd Samples) under its intellectual property right to download and use the Driver Software for the purpose of design verification and evaluation of applicable sample of the Products.

  

	5.	Card Supply and Price Discount 

Violin and Toshiba are currently negotiating (but, as of the Effective Date, have not yet executed) the terms and conditions of a
multi-stage relationship related to Violin’s PCle card and technology, where, it is contemplated, in Stage 1, ***, and in Stage 2, *** (the OEM Supply and Manufacturing License Agreement). Once the OEM Supply and
Manufacturing License Agreement has been concluded by the parties, Violin shall commit to supply to Toshiba each Product in commercial production and other PCle cards in accordance with the terms and conditions in the OEM Supply and Manufacturing
License Agreement, provided that the Products supplied by Violin will be provided to Toshiba at a price *** than otherwise prescribed in the OEM Supply and Manufacturing License Agreement. For clarity, the
foregoing discount shall only apply to the sale of Products to Toshiba that are manufactured and supplied by Violin as Stage 1 Hardware as contemplated in the OEM Supply and Manufacturing License Agreement. 

  
  

					
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	6.	Support Service 

  

	6.1	During the term of this Agreement, Violin shall, without additional charge to Toshiba, provide Toshiba with the following support service: 

 

	 	6.1.1	Support service for the Driver Software: 

  

	 	(i)	responding to and exercising commercially reasonable efforts to resolve defects, errors or bugs in the Driver Software 

 

	 	(ii)	answering technical questions regarding the Driver Software from Toshiba 

  

	 	(iii)	providing Toshiba with updated version of Driver Software. 

  

	 	6.1.2	Support service for the 1st Sample and 2nd Sample: 

  

	 	(i)	providing failure analysis for any defect reported by Toshiba 

  

	 	(ii)	exercising commercially reasonable effort to resolve any defects, errors or bugs in the 1st Sample, 2nd Sample. 

 

	7.	Limitation of Liability and Disclaimer 

  

	7.1	Violin warrants to Toshiba that it will use commercially reasonable efforts to provide the Services in a good and workmanlike manner. OTHER THAN EXPRESSLY SET FORTH
HEREIN, VIOLIN AND TOSHIBA MAKE NO REPRESENTATIONS OR WARRANTIES RELATING TO THE SERVICES, DELIVERABLES OR PRODUCTS OR ARISING OUT OF THE USE, ADAPTATION OR PERFORMANCE OF THE PRODUCTS. VIOLIN HEREBY DISCLAIMS ALL OTHER WARRANTIES, EXPRESS OR
IMPLIED, ORAL OR WRITTEN, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR PARTICULAR PURPOSE. 

  

	7.2	 NEITHER PARTY SHALL BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, RELIANCE, EXEMPLARY OR CONSEQUENTIAL DAMAGES (INCLUDING, BUT NOT LIMITED TO, LOSS
OF BUSINESS, REVENUES, PROFITS OR GOODWILL), CONCERNING THE SUBJECT MATTER OF THIS AGREEMENT OR OTHERWISE RESULTING FROM ITS PERFORMANCE OR FAILURE TO PERFORM UNDER THIS AGREEMENT, OR THE FURNISHING, PERFORMANCE OR USE OF ANY GOODS OR SERVICES SOLD
PURSUANT HERETO, WHETHER DUE TO A BREACH OF CONTRACT, BREACH OF WARRANTY, OR THE PARTY’S NEGLIGENCE OR ANY OTHER CAUSE OF ACTION OR CLAIM, EVEN IF THAT PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. NOTWITHSTANDING ANYTHING TO THE
CONTRARY UNDER THIS AGREEMENT, EACH PARTY’S AGGREGATE LIABILITY TO THE OTHER HEREUNDER SHALL NOT EXCEED THE AMOUNT EQUAL TO USD *** DOLLARS. THESE LIMITATIONS ARE INDEPENDENT

  
  

					
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FROM ALL OTHER PROVISIONS OF THIS AGREEMENT AND SHALL APPLY NOTWITHSTANDING THE FAILURE OF ANY REMEDY 

 PROVIDED HEREIN. NOTWITHSTANDING THE FOREGOING, THE LIMITATIONS SET FORTH IN THIS SECTION 7.2 SHALL NOT APPLY IN THE CASE OF ANY BREACH OF SECTION 4 (INTELLECTUAL PROPERTY AND TITLE) OR
SECTION 10 (CONFIDENTIAL INFORMATION). 
  

	8.	Subcontract and Assignment 

  

	8.1	Subject to prior notice to Toshiba, Violin has right to subcontract its responsibilities under this Agreement, provided that any subcontractor retained by Violin is
obligated in writing to substantially the same obligations as set forth herein with respect to Violin. Violin shall be solely responsible for the acts of subcontractors, and any breach by subcontractors may be deemed as breach by Violin of this
Agreement. 

  

	8.2	Neither party will assign any of its rights or privileges hereunder without the prior written consent of the other party other than to any of its Affiliates or to any
successor in ownership of all or substantially all of the business or assets of the assigning party (whether by sale of assets or equity, merger, consolidation or otherwise), which successor expressly assume in writing the assignor’s
obligations hereunder. 

  

	9.	Term and Termination 

  

	9.1	This Agreement shall become effective as of the Effective Date and shall continue to be effective until the earlier of (i) August 31, 2014, or (ii) terminated
in accordance with this Section 9, after which all rights, obligations and licenses of the parties hereunder shall cease. Notwithstanding the foregoing, the following shall survive any termination or expiration of this Agreement: all
obligations that accrued prior to the effective date of termination or expiration (including without limitation, payment obligations); and the provisions of Sections 4 and 7-13. 

 

	9.2	If either is in breach of a provision of this Agreement and such default is not corrected within *** of receipt of written notice from the non-defaulting party
specifying the default, this Agreement may be terminated by the non-defaulting party upon a written notice to the defaulting party. 

  

	9.3	Toshiba shall have the right to terminate this Agreement immediately if the OEM Supply and Manufacturing License Agreement has not been concluded by the parties before
April 30, 2014. If Toshiba elects to terminate this Agreement under this Section 9.3, Violin shall reimburse to Toshiba by September 15, 2014 the amount equal to the sum of (i) Individual Development Service Fee for each of the
Product which development has not been completed in accordance with Section 2.2, and (ii) the balancing amount of the 1st Sample Fee and 2nd Sample Fee as of the termination date. 

  
  

					
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	9.4	Either party shall have the right to terminate this Agreement immediately if: 

 

	 	(i)	The other party files a petition in bankruptcy, undergoes a reorganization pursuant to a petition in bankruptcy, is adjudicated a bankrupt, becomes insolvent, becomes

 dissolved or liquidated, files a petition for dissolution or liquidation, makes an assignment for benefit of
creditors, or has a receiver appointed for its business; or 
  

	 	(ii)	The other party is subject to property attachment or court injunction or court order which has a substantial negative effect on its ability to fulfill its obligations
under this Agreement. 

  

	9.5	Toshiba may terminate this Agreement without any liability to Violin upon the occurrence of Change of Control of Violin. For the purpose of this Section 9.5,
“Change of Control” means, with respect to Violin, any acquisition of Violin securities by any third party (other than as a result of an initial public offering of such securities), merger with any third party, change in the majority of
the composition of a Violin’s board of directors to any third party, or other transaction or event (or any series of related transactions or events) as a result of which any third party that did not directly or indirectly Control Violin prior
to the transaction or event (or series of transactions or events) thereafter directly or indirectly Controls Violin, where “Control” means (a) ownership, directly or indirectly, of 50% or more of the outstanding shares or other
ownership interests of Violin, or (b) the right to appoint the majority of the members of the Board of Directors or similar body of Violin. If Toshiba elects to terminate this Agreement in accordance with this Section 9.5, Violin shall
reimburse to Toshiba within fifteen (15) days from the occurrence of Change of Control the amount equal to the sum of (i) Individual Development Service Fee for each of the Product which development service has not been completed in
accordance with Section 2.2, and (ii) the balancing amount of the 1st Sample Fee and 2nd Sample Fee as of the termination date. 

  

	10.	Confidential Information 

  

	10.1	Neither party will disclose the other party’s Confidential Information to any third party, or use the other party’s Confidential Information for any purpose
not expressly permitted in this Agreement, without the prior written consent of the other party. Each party will protect Confidential Information from disclosure to others and unauthorized use with at least the same degree of care as such party
exercises to protect its own information of similar type and importance, but in no event with less than reasonable care. These obligations of confidentiality will survive the expiration, termination, or cancellation of this Agreement for a period of
five (5) years; provided, however, the obligation of confidentiality will not apply, or will cease to apply, to any information which: 

  

	 	(i)	was known to the receiving party on a non-confidential basis prior to its first receipt hereunder; 

  
  

					
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	 	(ii)	is or becomes publicly available without breach of this Agreement; 

  

	 	(iii)	is rightfully received from another party without an obligation of confidentiality to the disclosing party and without breach of this Agreement;

  

	 	(iv)	is disclosed by the disclosing party to another party without an obligation of confidentiality; 

 

	 	(v)	is developed independently by employees of the receiving party not having access to such information; or 

 

	 	(vi)	is disclosed by the receiving party pursuant to court order provided that the originally disclosing party is given a reasonable opportunity to object to or restrict
such disclosure requirement to the extent practicable, and then such disclosure will be permitted only for the purposes of and subject to the terms and conditions of such order. 

 

	10.2	Notwithstanding anything to the contrary, Toshiba or Violin may disclose Confidential Information to its Affiliates, provided that such Affiliates be bound by
confidentiality obligation substantially similar to those set forth herein. Each party shall be liable for any breach of confidentiality by its employees and contractors and those of its Affiliates. 

 

	10.3	Upon request by the disclosing party, the receiving party shall return or permanently destroy, to the extent permissible by law, the Confidential Information of the
disclosing party and all copies thereof. 

  

	10.4	Either party may provide a copy of this Agreement or otherwise disclose its terms in connection with any legal or regulatory requirement, financing transaction or due
diligence inquiry to the minimum extent necessary; provided that in case of disclosure in connection with any legal or regulatory requirement, a disclosing party shall promptly notify the other party to allow intervention (and if requested shall
reasonably cooperate with the other party) to contest or minimize the scope of the disclosure such as by means of redactions. 

  

	11.	Dispute Resolution 

  

	11.1	Any and all disputes, controversies and conflicts between the parties arising out of or relating to or in connection with the terms and conditions and the performance
or non-performance of the obligations set forth herein shall be settled amicably between the parties within sixty (60) days after written notice of such dispute, controversy or conflict has been given by one party to the other party.

  

	11.2	 Failing an amicable settlement of disputes within 60-day period specified in Section 11.2, all disputes arising out of or in relation to or in
connection with this Agreement which the parties are unable to resolve between themselves shall be settled by binding arbitration in accordance with the JAMS streamlined arbitration rules and procedures then in force, by

  
  

					
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one neutral arbitrator appointed in accordance with the rules. The arbitration shall take place in San Francisco, California, USA. The proceedings shall be in English, all evidence shall be in
English (or in Japanese and accompanied by an English translation), and the governing law shall be as set forth herein. The arbitrator’s decision shall be in writing and shall comply with all terms and conditions in this Agreement. For clarity,
the arbitrator may issue an injunction pursuant to Section 11.3. The decision and award rendered shall be final and binding on both parties. The parties acknowledge and agree that this Agreement and any award rendered pursuant hereto shall be
governed by the UN Convention on the Recognition and Enforcement of Foreign Arbitral Awards. Judgment on the award may be entered in any court of competent jurisdiction. In any action or proceeding to enforce or interpret this Agreement, the
prevailing party will be entitled to recover from the other party its costs and expenses (including reasonable attorneys’ fees) incurred in connection with such action or proceeding and enforcing any judgment or order obtained.

  

	11.3	Each party agrees that, in the event of any breach or threatened breach of Section 4 or 10, the non-breaching party will suffer irreparable damage for which it
will have no adequate remedy at law. Accordingly, the non-breaching party shall be entitled to obtain injunctive and other equitable remedies to prevent or restrain such breach or threatened breach, without the necessity of proving actual damages or
posting any bond. 

  

	12.	Force Majeure 

 Neither Toshiba nor Violin
shall be liable for any delay in delivery or for non-delivery or the delay or failure in performing any other obligation under this Agreement (other than payments and confidentiality) that is caused by the occurrence of any contingency beyond the
reasonable control of the affected party (including but not limited to earthquake, tsunami, war, riot, act of any government or judicial action, labor disputes, accidents, fire, acts of God, shortages of fuel, materials or machinery), where the
affected party has exercised ordinary care in the prevention thereof. This provision does not apply or excuse any delay or failure in performance attributable to a party’s business decisions or economic inefficiencies. 

 

	13.	General 

  

	13.1	Neither party is authorized to act for or on the behalf of the other party under this Agreement. Without limiting the generality of the foregoing, each party is an
independent contractor, and no principal/agent or partnership relationship is created between them by this Agreement. 

  

	13.2	No failure or delay by either party to enforce or take advantage of any provision or right under this Agreement shall constitute a subsequent waiver of that provision
or right, nor shall it be deemed to be a waiver of any other terms and conditions of this Agreement. 

  

	13.3	The validity, performance and construction of this Agreement shall be governed by the laws of the State of California (excluding its conflict of laws provisions).

  
  

					
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	13.4	In the event that any provision of this Agreement is prohibited by any law governing its construction, performance or enforcement, such provision shall be ineffective
to the extent of such prohibition without invalidating thereby any of the remaining provisions of the Agreement. The captions of the sections in this Agreement are intended for convenience only, and shall not be interpretive of the content of an
accompanying section. 

  

	13.5	The terms and conditions of this Agreement may not be superseded, modified, or amended except in writing which indicates a modification thereof, and is signed by an
authorized representative of both parties. 

  

	13.6	The parties agree that no technical information, including software, furnished hereunder or any direct products thereof is intended to or will be exported, directly or
indirectly, to any destination restricted or prohibited by applicable export control laws and/or regulations, without prior written authorization from the appropriate governmental authorities. 

 

	13.7	This Agreement, including all Appendixes, constitutes the entire Agreement between the parties as to the subject matter hereof, and supersedes and replaces all prior or
contemporaneous agreements, written or oral, regarding such subject matter, and shall take precedence over any additional or conflicting terms which may be contained in either party’s purchase orders or order acknowledgment forms. For
clarification, the parties acknowledge and confirm that the existing Evaluation Agreement between Violin and Toshiba America Electronic Components, Inc. dated October 17, 2012, as amended and extended by Violin and TAEC and/or Toshiba, shall
remain in full force and effect, all Deliverables, Products and Confidential Information provided hereunder shall be deemed to be Evaluation Materials for the purposes of such Evaluation Agreement, and nothing contained herein shall limit, modify or
otherwise affect such Evaluation Agreement. 

 IN WITNESS WHEREOF, the parties have caused their duly authorized officers to
execute this Agreement as of the Effective Date. 
  

									
	Violin Memory, Inc.	  		  	Toshiba Corporation
					
	 By:
	 	 /s/ Donald Basile
	  		  	By:	 	 /s/ Yasuo Naruke

					
	 Name:
	 	 Donald Basile
	  		  	Name:	 	 Yasuo Naruke

					
	 Date:
	 	 July 10, 2013
	  		  	Date:	 	 July 16, 2013

  
  

					
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 Appendix A 

Specifications 
 ***

 Target Performance Table 
  

 
 *** 

  
  

					
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 Appendix B 

Deliverables 
  

	1.	Developmental Samples 

 *** 

(Note: Number of Units and Delivery Date may be changed by a mutual agreement between the parties) 

 

	2.	1st Samples 

 *** 

(Note: Number of Units and Delivery Date may be changed by a mutual agreement between the parties; treatments of any variance
between the value calculated from the Number of Units actually delivered to Toshiba by Violin multiplied by the Unit Price and the pre-paid fees stated in Section 3.1(2) “1st Sample Fee”, will be mutually agreed by the parties; orders to be placed shall be non-cancellable; delivery terms
to be defined on purchase orders; subject to 4 week lead time.) 
  

	3.	2nd Samples 

 *** 

(Note: Number of Units and Delivery Date may be changed by a mutual agreement between the parties; treatments of any variance
between the value calculated from the Number of Units actually delivered to Toshiba by Violin multiplied by the Unit Price and the pre-paid fees stated in Section 3.1(3) “2nd Sample Fee”, will be mutually agreed by the parties; orders to be placed shall be non-cancellable; delivery terms
to be defined on purchase orders; subject to 4 week lead time.) 
  

	4.	Design Materials for each Product (at the time of delivery of Developmental Samples) 

 

	5.	Driver Software 

  
  

					
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