Document:

Registration Rights Agreement

 EXHIBIT 4.03 
 REGISTRATION RIGHTS AGREEMENT 
 This REGISTRATION RIGHTS AGREEMENT (this
“Agreement”) is dated as of October 9, 2006, and is among GOOGLE INC., a Delaware corporation (the “Company”) and each of the stockholders of YOUTUBE, INC., a Delaware corporation (the
“Target”), listed on the signature pages hereof (the “Stockholders”). 
 BACKGROUND

 WHEREAS, pursuant to the Agreement and Plan of Merger, dated as of October 9, 2006, as amended from time to time, among the
Company, Snowmass Holdings, Inc., a Delaware corporation, Target and certain of the Stockholders (the “Merger Agreement”), the Stockholders will receive shares of Common Stock (as defined below) of the Company. 
 WHEREAS, the Company desires to provide to the Stockholders rights to registration under the Securities Act (as defined below) of Registrable
Securities (as defined below), on the terms and subject to the conditions set forth herein. 
 WHEREAS, this Agreement shall be
effective upon the Effective Time (as defined in the Merger Agreement.) 
 ARTICLE I 
 DEFINITIONS 
 1.1. Certain
Definitions. 
 In this agreement: 
 “Closing Date” shall have the meaning set forth in the Merger Agreement. 
 “Common Stock” means the shares of Class A common stock, par value $.001 per share, of the Company and any stock into which such Class A common stock may thereafter be converted or exchanged. 
 “Company” shall have the meaning set forth in the preamble and shall also include the Company’s successors. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC promulgated under
such Act. 
 “Prospectus” shall mean the prospectus included in the Shelf Registration Statement and any such
Prospectus as amended or supplemented by any prospectus supplement with respect to the terms of the offering of any portion of the Registrable Securities and by all 

 
other amendments and supplements to such Prospectus, including post-effective amendments, and in each case including all material incorporated by reference
therein. 
 “Registrable Securities” shall mean all shares of Common Stock of the Company received by the
Stockholders pursuant to the Merger Agreement (including any shares that may continue to have vesting or other restrictions following consummation of the Merger), and any Common Stock which may be issued or distributed in respect thereof by way of
stock dividend or stock split or other distribution, recapitalization or reclassification. Any particular Registrable Securities that are issued shall cease to be Registrable Securities when (i) a registration statement with respect to the sale
by the Stockholders of such securities shall have become effective under the Securities Act and such securities shall have been disposed of in accordance with such registration statement, (ii) such securities shall have been sold by the holders
thereof pursuant to Rule 144 and/or Rule 145 (or any successor provision) under the Securities Act, (iii) such securities shall have been otherwise transferred, new certificates for such securities not bearing a legend restricting further
transfer shall have been delivered by the Company and subsequent disposition of such securities shall not require registration or qualification of such securities under the Securities Act, or (iv) such securities shall have ceased to be
outstanding. 
 “SEC” means the United States Securities and Exchange Commission or any successor agency. 

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations of the SEC promulgated under such
Act. 
 “Stockholders Agent” shall have the meaning set forth in the Merger Agreement. 
 ARTICLE II 
 REGISTRATION RIGHTS

 2.1. Shelf Registration Rights. (a) The Company shall file with the SEC, no later than thirty days after the
Closing Date (subject to Section 2.1(c)), a registration statement covering the resale of the Registrable Securities held by the Stockholders for offerings to be made on a delayed or continuous basis pursuant to Rule 415 of the Securities Act
(together with any amendments thereto, and including any documents incorporated by reference therein, the “Shelf Registration Statement”); provided, that a reasonable time before filing the Shelf Registration
Statement, or any amendments or supplements thereto, the Company will furnish to Wilson Sonsini Goodrich & Rosati, Professional Corporation (“WSGR”), outside counsel for Target in connection with the Merger
Agreement, copies of all documents proposed to be filed and will not file any such documents to which WSGR may reasonably object prior to the filing thereof. 
 (b) Effective Shelf Registration Statement. The Company shall use its reasonable best efforts to cause the Shelf Registration Statement to be declared effective under the Securities Act and to keep the
Shelf Registration Statement continuously effective under the Securities Act for a period of one year following its being declared effective (the “Effectiveness 

  

 2 

 
Termination Date”); provided, however, that such Effectiveness Termination Date shall be increased by the number of days
that the Shelf Registration Statement is delayed or suspended pursuant to Section 2.2. Without limiting the foregoing, the Company’s obligation to keep the Shelf Registration Statement effective for any particular Stockholder shall
cease upon such time as Rule 144 and/or Rule 145 or another similar exemption under the Securities Act is available for such Stockholder’s sales during a three-month period without registration. 
 (c) Postponement of Shelf Registration. The Company will be entitled to postpone the filing of the Shelf Registration Statement required
pursuant to Section 2.1, for a reasonable period of time not in excess of seventy five (75) calendar days (the “Blackout Period”) if the Company furnishes to the Stockholders Agent a certificate signed by the
Chief Executive Officer, General Counsel or Chief Financial Officer of the Company stating that, in the good faith exercise of his business judgment, such registration and offering would be reasonably likely to materially interfere with a bona fide
business or financing transaction of the Company, would require premature disclosure of information (the premature disclosure of which could materially and adversely affect the Company) or would otherwise be seriously detrimental to the Company. If
the Company postpones the filing of the Shelf Registration Statement, it will promptly notify the Stockholders Agent in writing when the events or circumstances permitting such postponement have ended and will file the Shelf Registration Statement
within ten (10) Business Days after the events or circumstances permitting such postponement have ended. 
 2.2. Suspension
of Shelf Registration. If the Company at any time during a period the Shelf Registration Statement is effective reasonably determines in good faith and in its reasonable judgment that the ongoing registration would be reasonably likely to
materially interfere with a bona fide business or financing transaction of the Company, would require premature disclosure of information (the premature disclosure of which could materially and adversely affect the Company) or would otherwise be
seriously detrimental to the Company, the Company may suspend sales of securities pursuant to the registration for a period of not more than sixty (60) days (a “Permitted Interruption”) and agrees to (i) furnish to
each Stockholder a certificate signed by the Chief Executive Officer, General Counsel or Chief Financial Officer of the Company to that effect and (ii) notify each Stockholder promptly upon each of the commencement and termination of each
Permitted Interruption. Each Stockholder agrees that, upon any such notice from the Company, it will forthwith discontinue disposition of Registrable Securities pursuant to the Shelf Registration Statement until receipt of the Company’s notice
as to the termination of the Permitted Interruption. The Company may suspend sales pursuant to this Section 2.2 no more than two (2) times in any twelve (12) month period. Each of the Stockholders agree to keep the notice of Permitted
Interruption and the reasons therefore confidential, and they shall not disclose such notice or reasons to any person other than its legal counsel or as required by law. 
 2.3. Covenants and Procedures. At such time as the Company is obligated under this Article II to effect and maintain a registration of Registrable Securities on behalf of Stockholders, then (as
applicable to the jurisdictions for which such registration is to be made) the Company shall: 
 (a) furnish to each Stockholder, without
charge, as many copies of each Prospectus, and any amendment or supplement thereto and such other documents as the 

  

 3 

 
Stockholders Agent may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities; the Company hereby
consents to the use of the Prospectus by each Stockholder of Registrable Securities in connection with the offering and sale of the Registrable Securities covered by the Prospectus; 
 (b) (i) use all reasonable efforts to register or qualify the Registrable Securities, no later than the time the applicable Registration Statement
becomes effective, under all applicable state securities or “blue sky” laws of such jurisdictions as the Stockholders Agent shall reasonably request; (ii) use all reasonable efforts to keep each such registration or qualification
effective during the period the Shelf Registration Statement is required to be kept effective; and (iii) do any other acts and things which may be reasonably necessary or advisable to enable each Stockholder to consummate the disposition in
each such jurisdiction of such Registrable Securities owned by such Stockholder; provided, however, that the Company shall not be obligated to qualify as a foreign corporation or as a dealer in securities in any jurisdiction in which
it is not so qualified or to consent to be subject to general service of process in any such jurisdiction; 
 (c) notify each Stockholder
promptly (i) when the Shelf Registration Statement has become effective and when any post-effective amendments and supplements thereto become effective if the Shelf Registration Statement or post-effective amendment is not automatically
effective upon filing pursuant to Rule 462, (ii) of the issuance by the SEC or any state securities authority of any stop order, injunction or other order or requirement suspending the effectiveness of the Shelf Registration Statement or the
initiation of any proceedings for that purpose, (iii) of any request by the SEC for amendments or supplements to the Shelf Registration Statement (including the related Prospectus) or for additional information relating thereto and (iv) if
the Company receives any notification with respect to the suspension of the qualification of the Registrable Securities for sale in any jurisdiction or the initiation of any proceeding for such purpose; 
 (d) use reasonable efforts to obtain the withdrawal of any order suspending the effectiveness of the Shelf Registration Statement as promptly as
practicable; 
 (e) upon request, furnish to each Stockholder, without charge, at least one conformed copy of the Shelf Registration
Statement and any post-effective amendment thereto (without documents incorporated therein by reference or exhibits thereto, unless requested); 
 (f) prepare and file with the SEC post-effective amendments to the Shelf Registration Statement and such amendments to the Prospectus used in connection therewith as may be necessary to maintain the effectiveness of such registration or as
may be required by the rules, regulations or instructions applicable to the registration form utilized by the Company or by the Securities Act or the Exchange Act or the rules and regulations thereunder necessary to keep such registration statement
effective for the period set forth in Section 2.1(b) of this Agreement, and cause the Prospectus as so supplemented to be filed pursuant to Rule 424 under the Securities Act, and to otherwise comply with the provisions of the Securities
Act with respect to the disposition of all Registrable Securities covered by the Shelf Registration Statement during the effectiveness of the Shelf Registration Statement; and 
  

 4 

 (g) cooperate with the Stockholders and the Stockholders Agent to facilitate the timely preparation and
delivery of certificates representing Registrable Securities to be sold and not bearing any restrictive legends. 
 Each selling Stockholder
of Registrable Securities as to which any registration is being effected pursuant to this Agreement agrees, as a condition to the registration obligations with respect to such Stockholder provided herein, to furnish to the Company such information
regarding such Stockholder required to be included in the Shelf Registration Statement, the ownership of Registrable Securities by such Stockholder and the proposed distribution by such Stockholder of such Registrable Securities as the Company may
from time to time request in writing, including, for purposes of this provision, by email correspondence. 
 ARTICLE III 
 OTHER AGREEMENTS 
 3.1.
Expenses. All expenses incurred by the Company in connection with any Registration Statement covering Registrable Securities offered by Stockholders, including, without limitation, all registration and filing fees, printing expenses, fees
and disbursements of counsel (except for the fees and disbursements of counsel for Stockholders) and of the independent certified public accountants, and the expense of qualifying such shares under state blue sky laws, shall be borne by the Company,
including such expenses of any registration delayed by the Company under Section 2.1(c) or 2.2. However, any expenses incurred by Stockholders, including discounts and commissions and legal, accounting and similar expenses, shall
be borne by the Stockholders. 
 3.2. Transfer of Rights. Any Stockholder may transfer all or any portion of its rights under
this Agreement to any transferee of Registrable Securities owned by such Stockholder (such transferee a “Transferee”). Any transfer of registration rights pursuant to this Section 3.2 shall be effective upon
receipt by the Company of (i) written notice from such Stockholder stating the name and address of any Transferee and identifying the number of Registrable Securities with respect to which the rights under this Agreement are being transferred
and the nature of the rights so transferred, and (ii) a written agreement from such Transferee to be bound by the terms of this Agreement. 
 3.3. Rule 144. So long as the Company is subject to the requirements of Section 13, 14 or 15(d) of the Exchange Act, the Company covenants that it will take reasonable efforts to file on a timely basis any reports
required to be filed by it under the Securities Act and the Exchange Act (or, if the Company is subject to the requirements of Section 13, 14 or 15(d) of the Exchange Act but is not required to file such reports, it will, upon the request of
any Stockholder, make publicly available such information) and it will take such further action as the Stockholders Agent may reasonably request, so as to enable the Stockholders to sell Registrable Securities without registration under the
Securities Act within the limitation of the exemptions provided by (a) Rule 144 under the Securities Act, as such Rule may be amended from time to time, or (b) any similar rule or regulation hereafter adopted by the SEC. Upon the request
of the Stockholders Agent, the Company will deliver to the Stockholders Agent a written statement as 
  

 5 

 
to whether it has complied with Rule 144 under the Securities Act, as such rule may be amended from time to time. 
 3.4. Stockholders Agent. 
 (a)
Subject to the limitations set forth herein, the Stockholders Agent is hereby constituted and appointed as agent for and on behalf of the Stockholders, to give and receive notices and communications, to agree to, negotiate, enter into settlements
and compromises of, and take legal actions and comply with orders of courts and awards of arbitrators with respect to such claims, and to take all actions necessary or appropriate in the judgment of the Stockholders Agent for the accomplishment of
the foregoing. No bond shall be required of the Stockholders Agent, and the Stockholder Representative shall receive no compensation for services rendered. Notices or communications to or from the Stockholders Agent shall constitute notice to or
from each of the Stockholders. 
 (b) The Stockholders Agent shall not be liable to the other Stockholders for any act done or omitted
hereunder in his capacity as Stockholders Agent, except to the extent it has acted with gross negligence or willful misconduct, and any act done or omitted pursuant to the advice of counsel shall be conclusive evidence that he did not act with gross
negligence or willful misconduct. The other Stockholders shall severally indemnify the Stockholders Agent and hold it harmless against any loss, liability or expense incurred without gross negligence or bad faith on the part of the Stockholders
Agent and arising out of or in connection with the acceptance or administration of the duties hereunder, including any out-of-pocket costs and expenses and legal fees and other legal costs reasonably incurred by the Stockholders Agent
(“Outstanding Stockholders Agent Expenses”). If not paid directly to the Stockholders Agent by the Stockholders, such losses, liabilities or expenses may be recovered by the Stockholders Agent from the Escrow Shares (as
defined in the Merger Agreement) that otherwise would be distributed to the Company Stockholders following the Initial Escrow Release Date (as defined in the Merger Agreement) after giving effect to, and satisfaction of, all claims for
indemnification made by the Parent Indemnified Parties pursuant to Article IX of the Merger Agreement, and such recovery (if any) of Outstanding Stockholders Agent Expenses from such Escrow Shares will be made from the Company Stockholders according
to their respective Pro Rata Shares (as defined in the Merger Agreement). The value of the Escrow Shares shall be determined in the same manner set forth in the Merger Agreement. 
 (c) To the extent the Stockholders Agent is permitted to act on behalf of the Stockholders under this Agreement, a decision, act, consent or instruction
of the Stockholders Agent shall constitute a decision of all the Stockholders and shall be final, binding and conclusive upon each of the Stockholders, and the Company may rely upon any decision, act, consent or instruction of the Stockholders Agent
as being the decision, act, consent or instruction of each of the Stockholders. The Company is hereby relieved from any liability to any person for any acts done by it in accordance with such decision, act, consent or instruction of the Stockholders
Agent. 
  

 6 

 3.5. Indemnification and Contribution. 
 (a) To the extent permitted by law, the Company will indemnify and hold harmless each Stockholder, each of its officers, directors and partners, legal
counsel, and accountants and each person controlling such Stockholder within the meaning of Section 15 of the Securities Act, with respect to which registration has been effected pursuant to Section 2.1, against all expenses,
claims, losses, damages, and liabilities (or actions, proceedings, or settlements in respect thereof) arising out of or based on: (i) any untrue statement (or alleged untrue statement) of a material fact contained or incorporated by reference
in any preliminary prospectus, final prospectus, summary prospectus, offering circular, or other document (including any related registration statement, notification, or the like) incident to any such registration, (ii) any omission (or alleged
omission) to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, or (iii) any violation (or alleged violation) by the Company of the Securities Act, any state securities laws
or any rule or regulation thereunder applicable to the Company and relating to action or inaction required of the Company in connection with any offering covered by such registration, and the Company will reimburse each such Stockholder, each of its
officers, directors, partners, legal counsel, and accountants and each person controlling such Stockholder, and each of its officers and directors, for any legal and any other expenses reasonably incurred in connection with investigating and
defending or settling any such claim, loss, damage, liability, or action; provided that the Company will not be liable in any such case to the extent that any such claim, loss, damage, liability, or action arises out of or is based on any
untrue statement or omission based upon written information furnished to the Company by such Stockholder, any of such Stockholder’s officers, directors, partners, legal counsel or accountants, any person controlling such Stockholder, and stated
to be specifically for use therein; and provided, further, that, the obligations of the Company contained in this Section 3.5(a) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability, or action if such
settlement is effected without the consent of the Company (which consent shall not be unreasonably withheld). 
 (b) To the extent permitted
by law, each Stockholder will indemnify and hold harmless the Company, each of its directors, officers, partners, legal counsel, and accountants, each other such Stockholder, and each of their officers, directors, and partners, and each person
controlling such Stockholder, against all claims, losses, damages and liabilities (or actions, proceedings, or settlements in respect thereof) arising out of or based on: (i) any untrue statement (or alleged untrue statement) of a material fact
contained or incorporated by reference in any such preliminary prospectus, final prospectus, summary prospectus, offering circular, or other document (including any related registration statement, notification, or the like) incident to any such
registration, or (ii) any omission (or alleged omission) to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and such Stockholders, directors,
officers, partners, legal counsel, and accountants, persons, or control persons for any legal or any other expenses reasonably incurred in connection with investigating or defending any such claim, loss, damage, liability, or action, in each case to
the extent, but only to the extent, that such untrue statement (or alleged untrue statement) or omission (or alleged omission) is made in such preliminary prospectus, final prospectus, summary prospectus, offering circular, or other document
(including any related registration statement, notification, or the like) in reliance upon and in conformity with written information furnished to the Company by such Stockholder and stated to be specifically for use 

  

 7 

 
therein; provided, however, that the obligations of such Stockholder contained in this Section 3.5(b) shall not apply to amounts
paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected without the consent of such Stockholder (which consent shall not be unreasonably withheld); and provided, further, that in no event
shall any indemnity under this Section 3.5 exceed the net proceeds from the offering received by such Stockholder unless such liability arises out of or is based on willful misconduct by such Stockholder. 
 (c) Each party entitled to indemnification under this Section 3.5 (the “Indemnified Party”) shall give notice to the
party required to provide indemnification (the “Indemnifying Party”) promptly after such Indemnified Party has actual knowledge of any claim as to which indemnity may be sought, and shall permit the Indemnifying Party to
assume the defense of such claim or any litigation resulting therefrom; provided that counsel for the Indemnifying Party, who shall conduct the defense of such claim or any litigation resulting therefrom, shall be approved by the Indemnified
Party (whose approval shall not be unreasonably withheld), and the Indemnified Party may participate in such defense at such party’s expense; and provided further that the failure of any Indemnified Party to give notice as provided
herein shall not relieve the Indemnifying Party of its obligations under this Section 3.5, to the extent such failure is not prejudicial. No Indemnifying Party, in the defense of any such claim or litigation, shall, except with the
consent of each Indemnified Party, consent to entry of any judgment or enter into any settlement that does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party of a release from all liability
in respect to such claim or litigation. Each Indemnified Party shall furnish such information regarding itself or the claim in question as an Indemnifying Party may reasonably request in writing and as shall be reasonably required in connection with
defense of such claim and litigation resulting therefrom. 
 (d) If the indemnification provided for in this Section 3.5 is held
by a court of competent jurisdiction to be unavailable to an Indemnified Party with respect to any loss, liability, claim, damage, or expense referred to herein, then the Indemnifying Party, in lieu of indemnifying such Indemnified Party hereunder,
shall contribute to the amount paid or payable by such Indemnified Party as a result of such loss, liability, claim, damage, or expense in such proportion as is appropriate to reflect the relative fault of the Indemnifying Party on the one hand and
of the Indemnified Party on the other in connection with the statements or omissions that resulted in such loss, liability, claim, damage, or expense as well as any other relevant equitable considerations, provided that, in no event shall any
contribution by a Stockholder under this Section 3.5(d) exceed the net proceeds from the offering received by such Stockholder unless such liability arises out of or is based on willful misconduct by such Stockholder. The relative fault
of the Indemnifying Party and of the Indemnified Party shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission to state a material fact relates to information
supplied by the Indemnifying Party or by the Indemnified Party and the parties’ relative intent, knowledge, access to information, and opportunity to correct or prevent such statement or omission. 
  

 8 

 ARTICLE IV 
 MISCELLANEOUS 
 4.1. Notices. All notices, requests, demands and other
communications required or permitted hereunder shall be made in writing by hand-delivery, registered first-class mail, telex, fax or air courier guaranteeing delivery: 
  

	 	(a)	If to the Company, to: 

 Google Inc. 
 1600 Amphitheatre Parkway 
 Mountain View, CA
94043 

	 	Attention:	David C. Drummond 

 Fax: (650) 649-1920 
 with a copy to: 
 Simpson Thacher &
Bartlett LLP 
 2550 Hanover Street 
 Palo Alto, California 94304 

	 	Attention:	William Hinman 

	 	    	Kirsten Jensen 

 Tel: (650) 251-5000 
 Fax: (650) 251-5002 
 or to such other person or address as the Company shall furnish to the Stockholders in writing; 
 If to the Stockholders or the
Stockholders Agent, to the applicable address set forth in the Company’s records. 
 with a copy to: 
 Wilson Sonsini Goodrich & Rosati, Professional Corporation 
 650 Page Mill Road 
 Palo Alto, California 94304 

	 	Attention:	Jack Sheridan 

	 	    	Michael S. Ringler 

 Tel: (650) 493-9300 

Fax: (650) 493-6811 
 or to such other person or address as the Stockholders Agent shall furnish to the Company in writing. 
 All such notices, requests,
demands and other communications shall be deemed to have been duly given: at the time of delivery by hand, if personally delivered; five (5) Business Days after being deposited in the mail, postage prepaid, if mailed domestically in the United

  

 9 

 
States (and seven (7) Business Days if mailed internationally); when answered back, if telexed; when receipt acknowledged, if telecopied; and on the
Business Day for which delivery is guaranteed, if timely delivered to an air courier guaranteeing such delivery. 
 4.2. Section
Headings. The article and section headings in this Agreement are for reference purposes only and shall not affect the meaning or interpretation of this Agreement. References in this Agreement to a designated “Article” or
“Section” refer to an Article or Section of this Agreement unless otherwise specifically indicated. 
 4.3. Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware. 
 4.4. Submission to Jurisdiction. Except as otherwise expressly provided in this Agreement, the parties hereto agree that any suit, action or proceeding seeking to enforce any provision of, or based on any matter arising
out of or in connection with, this Agreement or the transactions contemplated hereby shall be brought in the Court of Chancery of the State of Delaware, County of New Castle or the United States District Court for the District of Delaware. Each
party hereto also agrees not to bring any action arising out of or relating to this Agreement in any other court (and of the appropriate appellate courts therefrom). Each party hereto agrees that a final and non-appealable judgment in any action may
be enforced by action on the judgment or in any other manner provided at law or in equity. Each party hereto waives any defense of inconvenient forum to the maintenance of any action so brought and waives any bond, surety, or other security that
might be required of any other party hereto with respect thereto. Each party hereto agrees that service of process on it by notice as provided in Section 4.1 shall be deemed effective service of process. 
 4.5. Resolution of Conflicts; Arbitration. 
 (a) Any claim or dispute arising out of or related to this Agreement, or the interpretation, making, performance, breach or termination thereof, shall (except as specifically set forth in this Agreement) be finally
settled by binding arbitration in the County of Santa Clara, California in accordance with the then current Commercial Arbitration Rules of the American Arbitration Association and judgment upon the award rendered may be entered in any court having
jurisdiction thereof. The arbitrator(s) shall have the authority to grant any equitable and legal remedies that would be available in any judicial proceeding instituted to resolve a dispute. 
 (b) Such arbitration shall be conducted by a single arbitrator chosen by mutual agreement of the Company and the Stockholders Agent. Alternatively, at
the request of either party before the commencement of arbitration, the arbitration shall be conducted by three independent arbitrators, none of whom shall have any competitive interests with the Company or the Stockholders Agent. The Company and
the Stockholders Agent shall each select one arbitrator. The two arbitrators so selected shall select a third arbitrator. 
 (c) In any
arbitration under this Section 4.5, each party shall be limited to calling a total of three witnesses both for purposes of deposition and the arbitration hearing. Subject to the foregoing limitation on the number of witnesses, the
arbitrator or arbitrators, as the case may be, shall set a limited time period and establish procedures designed to reduce the cost 

  

 10 

 
and time for discovery while allowing the parties an opportunity, adequate in the sole judgment of the arbitrator or majority of the three arbitrators, as
the case may be, to discover relevant information from the opposing parties about the subject matter of the dispute. The arbitrator, or a majority of the three arbitrators, as the case may be, shall rule upon motions to compel or limit discovery and
shall have the authority to impose sanctions for discovery abuses, including attorneys’ fees and costs, to the same extent as a competent court of law or equity, should the arbitrators or a majority of the three arbitrators, as the case may be,
determine that discovery was sought without substantial justification or that discovery was refused or objected to without substantial justification. 
 (d) The decision of the arbitrator or a majority of the three arbitrators, as the case may be, as to the validity and amount of any claim shall be final, binding, and conclusive upon the parties to this Agreement.
Such decision shall be written and shall be supported by written findings of fact and conclusions which shall set forth the award, judgment, decree or order awarded by the arbitrator(s). Within 30 days of a decision of the arbitrator(s) requiring
payment by one party to another, such party shall make the payment to such other party. 
 (e) The parties to the arbitration may apply to a
court of competent jurisdiction for a temporary restraining order, preliminary injunction or other interim or conservatory relief, as necessary, without breach of this arbitration provision and without abridgement of the powers of the arbitrator(s).

 (f) The parties agree that each party shall pay its own costs and expenses (including counsel fees) of any such arbitration, and each
party waives its right to seek an order compelling the other party to pay its portion of its costs and expenses (including counsel fees) for any arbitration. 
 4.6. Effective Time; Termination. This Agreement shall be effective upon the Effective Time and shall terminate and be of no force and effect upon the earlier to occur of (a) the termination of
the Company’s obligation to keep the Shelf Registration Statement effective pursuant to Section 2.2 and (b) the termination of the Merger Agreement pursuant to Section 8.1 of the Merger Agreement. 
 4.7. Amendments. This Agreement may be amended only by an instrument in writing executed by all of its parties, or their respective
successors or assigns; provided that an executed instrument in writing by the Stockholders Agent shall bind all of the Stockholders for purposes of this Section with respect to amendments or waivers the purpose of which is solely to extend or
allow a Permitted Interruption pursuant to Section 2.2; and provided further that an executed instrument in writing by the majority of the Stockholders (calculated based on the number of Registrable Securities beneficially held) shall
bind all of the Stockholders for purposes of this Section; and provided further that holders of Registrable Securities immediately after the Effective Time (as defined in the Merger Agreement) not party to this Agreement as of the date hereof
may execute counterparts to this Agreement without the consent or additional signatures of the Stockholders party hereto, and upon the Company’s receipt of such additional holder’s executed signature pages hereto, such additional holders
shall be deemed to be a party hereto and such additional signature pages shall be a part of this Agreement. 
  

 11 

 4.8. Entire Agreement. This Agreement constitutes the entire agreement and
understanding of the parties with respect to the transactions contemplated hereby and thereby. The registration rights granted under this Agreement supersede any registration, qualification or similar rights with respect to any of the shares of
Common Stock granted under any other agreement, and any of such preexisting registration rights are hereby terminated. 
 4.9. Severability. The invalidity or unenforceability of any specific provision of this Agreement shall not invalidate or render unenforceable any of its other provisions. Any provision of this Agreement held invalid or
unenforceable shall be deemed reformed, if practicable, to the extent necessary to render it valid and enforceable and to the extent permitted by law and consistent with the intent of the parties to this Agreement. 
 4.10. Counterparts. This Agreement may be executed in multiple counterparts, including by means of facsimile, each of which shall be
deemed an original, but all of which together shall constitute the same instrument. 
  

 12 

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

  

					
	GOOGLE INC.
		
	By:	 	 /s/ DAVID C. DRUMMOND

		 	Name:	 	David C. Drummond
		 	Title:	 	Senior Vice President, Corporate Development

  

 13 

 IN WITNESS WHEREOF, the Parties have executed this Agreement on the date first above written. 

 

	
	COMMON STOCKHOLDERS:
	
	Steve. S. Chen
	
	 /s/ Steve S. Chen

	
	Steve S. Chen 2006 Grantor Retained Annuity Trust dated 9/27/06
	
	 /s/ Steve S. Chen

	Name: Steve S. Chen
	Title: Trustee
	
	Chad M. Hurly
	
	 /s/ Chad M. Hurly

	
	The Chad M. Hurley Irrevocable Children’s Trust created UTA dated March 2, 2006
	
	 /s/ Brent Hurley

	Name: Brent Hurley
	Title: Trustee
	
	Jawed Karim
	
	 /s/ Jawed Karim

	
	Zahavah Levine
	
	 /s/ Zahavah Levine

  

 14 

 IN WITNESS WHEREOF, each of the undersigned has executed this Agreement of the
date set forth below. 
  

					
	SERIES A STOCKHOLDERS:
	
	SEQUOIA CAPITAL XI
	SEQUOIA TECHNOLOGY PARTNERS XI
	SEQUOIA CAPITAL XI PRINCIPALS FUND
		
	 By:  
	 	SC XI Management, LLC
		 	A Delaware Limited Liability Company
		 	General Partner of Each
		
	 By:
	 	 /s/ Douglas Leone

		 	Douglas Leone
		 	Managing Member
	
	 WS INVESTMENT COMPANY LLC (2005A)

		
	 By:
	 	 /s/ James A. Terranova

		 	 James A. Terranova

		 	 Manager

	
	SERIES B STOCKHOLDERS:
	
	Artis Technology Partners, L.P.
	Artis Technology 2X, L.P.
	Artis Technology Qualified Partners, L.P.
	Artis Technology Qualified 2X, L.P.
	Artis Microcap Fund, L.P.
		
		 	 By: Artis Capital Management, L.P.
 General
Partner for Each Fund

			
		 	By:	 	 /s/ John Milani

		 	 Name: John Milani
 Its: Chief
Operating Officer

  

 15 

 IN WITNESS WHEREOF, each of the undersigned has executed this Agreement of the
date set forth below. 
  

					
	SERIES B STOCKHOLDERS:
	Artis Microcap Master Fund, L.P.
			
		 	 By:  
	 	 Artis Microcap GP, LLC

		 	 General Partner

			
		 	 By:
	 	 /s/ John Milani

		 	 Name: John Milani

		 	 Its: Chief Operating Officer

	
	 Artis Technology Partners, L.P.

	 Artis Technology 2X, L.P.

			
		 	 By:
	 	 Artis Capital Management, L.P.

		 	Investment Adviser and Attorney-In-Fact for Each Fund
			
		 	 By:
	 	 /s/ John Milani

		 	 Name: John Milani

		 	 Its: Chief Operating Officer

	
	 SEQUOIA CAPITAL XI

	 SEQUOIA TECHNOLOGY PARTNERS XI

	 SEQUOIA CAPITAL XI PRINCIPALS FUND

		
	 By:  
	 	 SC XI Management, LLC

		 	 A Delaware Limited Liability Company

		 	 General Partner of Each

		
	 By:
	 	 /s/ Douglas Leone

		 	 Douglas Leone

		 	 Managing Member

	
	 WS INVESTMENT COMPANY LLC (2006A)

		
	 By:
	 	 /s/ James A. Terranova

		 	 James A. Terranova
 Manager

  

 16Amended and Restated 2002 Executive Performance Plan

 Exhibit 10.9 
 THE WALT DISNEY COMPANY 
 AMENDED AND RESTATED 2002 EXECUTIVE PERFORMANCE PLAN 
 Section 1.     Purpose of Plan 
 The purpose of the Plan is to promote the success of the Company by providing to participating executives with incentive compensation that qualifies as “performance-based compensation” within the meaning of Section 162(m) of
the Code. 
 Section 2.    Definitions and Terms 
 2.1    Accounting Terms. Except as otherwise expressly provided or the context otherwise requires, financial and accounting
terms are used as defined for purposes of, and shall be determined in accordance with, generally accepted accounting principles, as from time to time in effect, as applied and included in the consolidated financial statements of the Company,
prepared in the ordinary course of business. 
 2.2    Specific Terms. The following words and phrases as used
herein shall have the following meanings unless a different meaning is plainly required by the context: 
 “Adjusted EPS”
means EPS, subject to, and/or after giving effect to, any adjustments applicable pursuant to Section 4.6 at the time Business Criteria and Performance Target(s) are established for any Year or Years. 
 “Adjusted Net Income” means Net Income, subject to, and/or after giving effect to, any adjustments applicable pursuant to
Section 4.6 at the time Business Criteria and Performance Target(s) are established for any Year or Years. 
 “Adjusted Return
on Assets” shall mean Return on Assets, subject to, and/or after giving effect to, any adjustments applicable pursuant to Section 4.6 at the time Business Criteria and Performance Target(s) are established for any Year or Years.

 “Adjusted Return on Equity” shall mean Return on Equity, subject to, and/or after giving effect to, any adjustments
applicable pursuant to Section 4.6 at the time Business Criteria and Performance Target(s) are established for any Year or Years. 
 “Award” means an award under this Plan of a conditional opportunity to receive a Bonus if the applicable Performance Target(s) is (are) satisfied in the applicable Performance Period, or an award of Restricted Stock or
Restricted Units the vesting of which will occur if the applicable Performance Target(s) is (are) satisfied in the applicable Performance Period. 
 “Base Salary” in respect of any Performance Period means the aggregate base annualized salary of a Participant from the Company and all affiliates of the Company at the time the Participant is selected to participate for
that Performance Period, exclusive of 

 
any commissions or other actual or imputed income from any Company-provided benefits or perquisites, but prior to any reductions for salary deferred pursuant
to any deferred compensation plan or for contributions to a plan qualifying under Section 401(k) of the Code or contributions to a cafeteria plan under Section 125 of the Code. 
 “Base Salary Multiple” means an amount equal to ten times Base Salary or, in the case of the Chief Executive Officer, fifteen times Base
Salary. 
 “Bonus” means a cash payment or a cash payment opportunity under the Plan, as the context requires. 

“Business Criteria” means any one or any combination of Net Income, Adjusted Net Income, Return on Equity, Adjusted Return on Equity,
Return on Assets, Adjusted Return on Assets, EPS or Adjusted EPS. 
 “Code” means the Internal Revenue Code of 1986, as
amended from time to time. 
 “Committee” means the Compensation Committee of the Company’s Board of Directors or such
other Committee as from time to time the Board of Directors may designate to administer the Plan in accordance with Section 3.1 and Section 162(m). 
 “Company” means The Walt Disney Company, a Delaware corporation. 
 “EPS”
for any Year means diluted earnings per share of the Company, as reported in the Company’s consolidated financial statements for the Year. 
 “Executive” means a key employee (including any officer) of the Company who is (or in the opinion of the Committee may during the applicable Performance Period become) a “covered employee” for purposes of
Section 162(m). 
 “Net Income” for any Year means the consolidated net income of the Company, as reported in the
consolidated financial statements of the Company for the Year; provided, however, that in the event of a change in accounting principles affecting the Company or Net Income during a Performance Period, Net Income shall be determined without regard
to such change unless otherwise specified by the Committee at the time the Business Criteria and Performance Targets for any Awards relative to such Performance Period are established. 
 “Participant” means an Executive selected to participate in the Plan by the Committee. 
 “Performance Period” means the Year or Years (or portions thereof) with respect to which the Performance Targets are set by the
Committee. 
  

 2 

 “Performance Target(s)” means the specific objective goal or goals that are timely set
in writing by the Committee pursuant to Section 4.2 for each Participant for the applicable Performance Period in respect of any one or more of the Business Criteria. 
 “Plan” means this Amended and Restated 2002 Executive Performance Plan, as amended from time to time. 
 “Restricted Stock” means an Award of Shares under Section 5 that are nontransferable and subject to forfeiture conditions and other
restrictions on ownership until specific vesting conditions established by the Committee under the Award are satisfied. 
 “Restricted Unit” means an Award under Section 5 of notional units of measurement that are denominated in Shares, payable to the Participant in cash or in Shares upon the satisfaction of specific conditions established
by the Committee under the Award. 
 “Return on Assets” means Net Income divided by the average of the total assets of the
Company at the end of the four fiscal quarters of the Year, as reported by the Company in its consolidated financial statements; provided, however, that in the event of a change in accounting principles affecting the Company or Return on Assets
during a Performance Period, Return on Assets shall be determined without regard to such change unless otherwise specified by the Committee at the time the Business Criteria and Performance Targets for any Awards relative to such Performance Period
are established. 
 “Return on Equity” means the Net Income divided by the average of the common shareholders equity of the
Company at the end of each of the four fiscal quarters of the Year, as reported by the Company in its consolidated financial statements; provided, however, that in the event of a change in accounting principles affecting the Company or Return on
Equity during a Performance Period, Return on Equity shall be determined without regard to such change unless otherwise specified by the Committee at the time the Business Criteria and Performance Targets for any Awards relative to such Performance
Period are established. 
 “Section 162(m)” means Section 162(m) of the Code, and the regulations promulgated thereunder, all
as amended from time to time. 
 “Shares” means shares of common stock of the Company or any securities or property,
including rights into which the same may be converted by operation of law or otherwise. 
 “Stock Plan” means the
Company’s Amended and Restated 1995 Stock Incentive Plan or Amended and Restated 2005 Stock Incentive Plan, in each case as amended from time to time, or any other shareholder approved stock incentive plan of the Company. 
  

 3 

 “Year” means a fiscal year of the Company commencing on or after October 1, 2001.

 Section 3.    Administration of the Plan 
 3.1    The Committee. The Plan shall be administered by a Committee consisting of at least three members of the Board of Directors of the Company, duly authorized by the Board of Directors
of the Company to administer the Plan who are “outside directors” within the meaning of Section 162(m). 
 3.2    Powers of the Committee. The Committee shall have the sole authority to establish and administer the Business Criteria and Performance Target(s) and the responsibility of determining from among the
Executives those persons who will participate in and receive Awards under the Plan and, subject to the terms of the Plan, the amount or Shares under such Awards, and the time or times at which and the form and manner in which Awards will be paid
(which may include elective or mandatory deferral alternatives) and shall otherwise be responsible for the administration of the Plan, in accordance with its terms. The Committee shall have the authority to construe and interpret the Plan except as
otherwise provided herein) and any agreement or other document relating to any Awards under the Plan, may adopt rules and regulations governing the administration of the Plan, and shall exercise all other duties and powers conferred on it by the
Plan, or which are incidental or ancillary thereto. 
 3.3    Requisite Action. A majority (but not fewer than
two) of the members of the Committee shall constitute a quorum. The vote of a majority of those present at a meeting at which a quorum is present or the unanimous written consent of the Committee shall constitute action by the Committee. 

3.4    Express Authority (and Limitations on Authority) to Change Terms and Conditions of Awards; Acceleration or Deferral of
Payment. Without limiting the Committee’s authority under other provisions of the Plan, but subject to any express limitations of the Plan and compliance with Section 162(m), the Committee shall have the authority to accelerate an
Award (after the attainment of the applicable Performance Target(s)) and to waive restrictive conditions for an Award (including any forfeiture conditions, but not Performance Target(s)), in such circumstances as the Committee deems appropriate. In
the case of any acceleration of an Award after the attainment of the applicable Performance Target(s), the amount payable shall be discounted to its present value using an interest rate equal to Moody’s Average Corporate Bond Yield for the
month preceding the month in which such acceleration occurs (or such other rate of interest that is deemed to constitute a “reasonable rate of interest” for purposes of Section 162(m)).Any deferred payment shall be subject to
Section 4.9 and, if applicable, Section 4.10. In addition, and notwithstanding anything elsewhere in the Plan to the contrary, the Committee shall have the authority to provide under the terms of an Award that payment or vesting shall be
accelerated upon the death or disability of a Participant, a change in control of the Company, or upon termination of the Participant’s employment without cause or as a constructive termination, as and in the manner provided by the Committee,

  

 4 

 
and subject to such provision not causing the Award to fail to satisfy the requirements for performance-based compensation under Section 162(m)
generally. 
 Section 4.    Bonus Awards 
 4.1    Provision for Bonus. Each Participant may receive a Bonus if the Performance Target(s) established by the Committee, relative to the applicable Business Criteria, are attained in the
applicable Performance Period established by the Committee. The applicable Performance Period and Performance Target(s) shall be determined by the Committee consistent with the terms of the Plan and Section 162(m). Notwithstanding the fact that
the Performance Target(s) have been attained, the Company may pay a Bonus of less than the amount determined by the formula or standard established pursuant to Section 4.2 or may pay no Bonus at all, unless the Committee otherwise expressly
provides by written contract or other written commitment. 
 4.2    Selection of Performance Target(s). The
specific Performance Target(s) with respect to the Business Criteria must be established by the Committee in advance of the deadlines applicable under Section 162(m) and while the performance relating to the Performance Target(s) remains
substantially uncertain within the meaning of Section 162(m). The Performance Target(s) with respect to any Performance Period may be established on a cumulative basis or in the alternative, and may be established on a stand-alone basis with
respect to the Company or on an a relative basis with respect to any peer companies or index selected by the Committee. At the time the Performance Target(s) are selected, the Committee shall provide, in terms of an objective formula or standard for
each Participant, and for any person who may become a Participant after the Performance Target(s) are set, the method of computing the specific amount that will represent the maximum amount of Bonus payable to the Participant if the Performance
Target(s) are attained, subject to Sections 4.1, 4.3, 4.7, 6.1 and 6.8. The objective formula or standard shall preclude the use of discretion to increase the amount of any Bonus earned pursuant to the terms of the Award. 
 4.3    Maximum Individual Bonus. Notwithstanding any other provision hereof, no Executive shall receive a Bonus under the Plan
for any one Year in excess of $15 million ($10 million for Executives other than the Chief Executive Officer) or, if less, his or her Base Salary Multiple at the time the Award is established. The foregoing limits shall be subject to adjustments
consistent with Section 3.4 in the event of acceleration or deferral. 
 4.4    Selection of Participants.
For each Performance Period, the Committee shall determine, at the time the Business Criteria and the Performance Target(s) are set, those Executives who will participate in the Plan. 
 4.5    Effect of Mid-Year Commencement of Service; Termination of Employment. To the extent compatible with Sections 4.2 and
6.8, if services as an Executive commence after the adoption of the Plan and the Performance Target(s) are established for a Performance Period, the Committee may grant a Bonus that is 

  

 5 

 
proportionately adjusted based on the period of actual service during the Year; the amount of any Bonus paid to such person shall not exceed that
proportionate amount of the applicable maximum individual bonus under Section 4.3. In the event of the termination of employment of a Participant prior to the payment of a Bonus, the Participant shall not be entitled to any payment in respect
of the Bonus, unless otherwise expressly provided by the terms of the Awards or other written contract with the Company. 
 4.6    Adjustments. To preserve the intended incentives and benefits of an Award based on Adjusted EPS, Adjusted Net Income, Adjusted Return on Assets or Adjusted Return on Equity, the Committee shall apply the
objective formula or standard with respect to the applicable Performance Target in a manner that shall eliminate, in whole or in part, in such manner as is specified by the Committee, the effects of the following : (i) the gain, loss, income or
expense resulting from changes in accounting principles that become effective during the Performance Period; (ii) the gain, loss, income or expense reported by the Company in its public filings with respect to the Performance Period that are
extraordinary or unusual in nature or infrequent in occurrence, excluding gains or losses on the early extinguishment of debt, as determined in accordance with Opinion No. 30 of the Accounting Principles Board, and (iii) the gains or
losses resulting from, and the direct expenses incurred in connection with, the disposition of a business, in whole or in part. The Committee may, however, provide at the time the Performance Targets are established that one or more of the foregoing
adjustments will not be made as to a specific Award. In addition, the Committee may determine at the time the Performance Targets are established that other adjustments shall apply to the objective formula or standard with respect to the applicable
Performance Target to take into account, in whole or in part, in any manner specified by the Committee, any one or more of the following with respect to the Performance Period: (a) gain or loss from all or certain claims and/or litigation and
all or certain insurance recoveries relating to claims or litigation, (b) the impact of impairment of tangible or intangible assets, (c)the impact of restructuring activities, including but not limited to reductions in force, that are reported
in the Company’s public filings covering the Performance Period and (d) the impact of investments or acquisitions made during the year or, to the extent provided by the Committee, any prior year. Each of the adjustments described in this
Section 4.6 may relate to the Company as a whole or any part of the Company’s business or operations, as determined by the Committee at the time the Performance Targets are established. The adjustments are to be determined in accordance
with generally accepted accounting principles and standards, unless another objective method of measurement is designated by the Committee. In addition to the foregoing, the Committee shall adjust any Business Criteria, Performance Targets or other
features of an Award that relate to or are wholly or partially based on the number of, or the value of, any Shares, to reflect a change in the Company’s capitalization, such as a stock split or dividend, or a corporate transaction, such as a
merger, consolidation, separation (including a spin-off or other distribution of stock or property), or a reorganization of the Company. 
 4.7    Committee Discretion to Determine Bonuses. The Committee has the sole discretion to determine the standard or formula pursuant to which each Participant’s 

  

 6 

 
Bonus shall be calculated (in accordance with Sections 4.1 and 4.2), whether all or any portion of the amount so calculated will be paid, and the specific
amount (if any) to be paid to each Participant, subject in all cases to the terms, conditions and limits of the Plan and of any other written commitment authorized by the Committee. To this same extent, the Committee may at any time establish (and,
once established, rescind, waive or amend) additional conditions and terms of payment of Bonuses (including but not limited to the achievement of other financial, strategic or individual goals, which may be objective or subjective) as it may deem
desirable in carrying out the purposes of the Plan and may take into account such other factors as it deems appropriate in administering any aspect of the Plan. The Committee may not, however, increase the maximum amount permitted to be paid to any
individual under Section 4.2 or 4.3 of the Plan or award a Bonus under this Plan if the applicable Performance Target(s) have not been satisfied. 
 4.8    Committee Certification. No Executive shall receive any payment under the Plan unless the Committee has certified, by resolution or other appropriate action in writing, that the
amount thereof has been accurately determined in accordance with the terms, conditions and limits of the Plan and that the Performance Target(s) and any other material terms previously established by the Committee or set forth in the Plan were in
fact satisfied. 
 4.9    Time of Payment; Deferred Amounts. Any Bonuses granted by the Committee under the Plan
shall be paid as soon as practicable following the Committee’s determinations under this Section 4 and the certification of the Committee’s findings under Section 4.8. Any such payment shall be in cash or cash equivalent or in
such other form of equal value on such payment date (including Shares or share equivalents as contemplated by Section 4.10) as the Committee may approve or require, subject to applicable withholding requirements and, if applicable,
Section 4.10. Notwithstanding the foregoing, the Committee, in its sole discretion (but subject to compliance with Section 162(m) and to any prior written commitments and to any conditions consistent with Sections 3.4, 4.3, 4.10 and 6.8
that it deems appropriate), defer the payout or vesting of any Bonus and/or provide to Participants the opportunity to elect to defer the payment of any Bonus under a nonqualified deferred compensation plan and as contemplated by Section 4.10.
In the case of any deferred payment of a Bonus after the attainment of the applicable Performance Target(s), any amount in excess of the amount otherwise payable shall be based on either Moody’s Average Corporate Bond Yield (or such other rate
of interest that is deemed to constitute a “reasonable rate of interest” for purposes of Section 162(m)) over the deferral period or the return over the deferral period of one or more predetermined actual investments (including
Shares) such that the amount payable at the later date will be based upon actual returns, including any decrease or increase in the value of the investment(s), unless the alternative deferred payment is otherwise exempt from the limitations under
Section 162(m). 
 4.10    Share Payouts of Bonus. Any Shares payable under a Bonus shall be pursuant to a
combined Award under the Plan and the Stock Plan. The number of Shares or stock units (or similar deferred award representing a right to receive Shares) awarded in lieu of all or any portion of a Bonus shall be equal to the largest whole number of

  

 7 

 
Shares which have an aggregate fair market value no greater than the amount of cash otherwise payable as of the date the cash payment of the Bonus would have
been made. For this purpose, “fair market value” shall mean the average of the high and low prices of the Shares on such date. Any such Shares, stock units (or similar rights) shall thereafter be subject to adjustments for changes in
corporate capitalization as provided in the Stock Plan. Dividend equivalent rights thereafter earned may be accrued and payable in additional stock units, cash or Shares or any combination thereof, in the Committee’s discretion. 
 Section 5.    Restricted Stock and Units 
 5.1.    Awards. The Committee may grant Awards under the Plan in the form of Restricted Stock or Restricted Units, which shall become vested or payable based upon the achievement of
Performance Target(s) established by the Committee and upon the continued employment of the Participant for such period or periods as the Committee shall specify. The selection of Participants, Business Criteria, Performance Targets and Performance
Period and other terms and conditions of the Award shall be established and administered by the Committee on the same basis as provided for Bonus Awards under Section 4 hereof (other than Section 4.3 hereof), except as context otherwise
requires. Any Shares subject to a Restricted Stock Award or distributed to a Participant under a Restricted Unit Award shall be pursuant to a combined Award under the Plan and Stock Plan, and shall be subject to adjustments for changes in corporate
capitalization as provided in the Stock Plan. Unless otherwise provided by the Committee, any dividends, distributions and equivalent rights payable with respect to Restricted Stock or Restricted Units shall be subject to the same vesting or payment
conditions established pursuant to the Award. Notwithstanding the fact that Performance Targets have been attained with respect to any Award in the form of Restricted Stock or Restricted Units, the Company may reduce the amount vesting or payable,
or eliminate vesting or payment, unless the Committee otherwise expressly provides by written contract or other written commitment. 
 5.2    Maximum Awards. The maximum number of Shares or share units that may be subject to Restricted Stock and/or Restricted Units granted to any one Participant during any consecutive five Years shall be limited
to 2,500,000 Shares, subject to adjustment to reflect changes in corporate capitalization in the same manner as provided in the Stock Plan. An Award of Restricted Stock or Restricted Units shall not affect the Participant’s maximum Bonus Award
under Section 4.3, and the provisions of Section 4.3 shall not apply to Awards under this Section 5. 
 Section 6.    General Provisions 
 6.1    No Right to Awards or Continued
Employment. Neither the establishment of the Plan nor the provision for or payment of any amounts hereunder nor any action of the Company (including, for purposes of this Section 5.1, any predecessor or subsidiary), the Board of Directors
of the Company or the Committee in respect of the Plan shall be held or construed to confer upon any person any legal right to receive, or any interest in, 

  

 8 

 
an Award or any other benefit under the Plan, or any legal right to be continued in the employ of the Company. The Company expressly reserves any and all
rights to discharge an Executive in its sole discretion, without liability of any person, entity or governing body under the Plan or otherwise. Nothing in this Section 6.1, however, is intended to adversely affect any express independent right
of any person under a separate employment agreement. Notwithstanding any other provision hereof and notwithstanding the fact that the Performance Target(s) have been attained and/or the individual maximum amounts hereunder have been calculated, the
Company shall have no obligation to pay any Bonus hereunder nor to pay the maximum amount so calculated or any prorated amount based on service during the period, unless the Committee otherwise expressly provides by written contract or other written
commitment. 
 6.2    Discretion of Company, Board of Directors and Committee. Any decision made or action taken
by the Company or by the Board of Directors of the Company or by the Committee arising out of or in connection with the creation, amendment, construction, administration, interpretation and effect of the Plan shall be within the absolute discretion
of such entity and shall be conclusive and binding upon all persons. No member of the Committee shall have any liability for actions taken or omitted under the Plan by the member or any other person. 
 6.3    No Funding of Plan. The Company shall not be required to fund or otherwise segregate any cash or any other assets which
may at any time be paid to Participants under the Plan. The Plan shall constitute an “unfunded” plan of the Company. The Company shall not, by any provisions of the Plan, be deemed to be a trustee of any property, and any rights of any
Participant or former Participant shall be no greater than those of a general unsecured creditor or shareholder of the Company, as the case may be. 
 6.4    Non-Transferability of Benefits and Interests. Except as expressly provided by the Committee, no benefit payable under the Plan shall be subject in any manner to anticipation, alienation, sale, transfer,
assignment, pledge, encumbrance or charge, and any such attempted action shall be void and no such benefit shall be in any manner liable for or subject to debts, contracts, liabilities, engagements or torts of any Participant or former Participant.
This Section 6.4 shall not apply to an assignment of a contingency or payment due (i) after the death of an Participant to the deceased Participant’s legal representative or beneficiary or (ii) after the disability of a
Participant to the disabled Participant’s personal representative. 
 6.5    Law to Govern. All questions
pertaining to the construction, regulation, validity and effect of the provisions of the Plan shall be determined in accordance with the laws of the State of California. 
 6.6    Non-Exclusivity. The Plan does not limit the authority of the Company, the Board or the Committee, or any subsidiary of the Company to grant awards or authorize any other compensation
to any person under any other plan or authority, including, 

  

 9 

 
without limitation, the issuance of restricted stock or restricted stock units or any other awards under the Stock Plan. 
 6.7    Section 162(m) Conditions; Bifurcation of Plan. It is the intent of the Company that the Plan and Awards made
hereunder satisfy and be interpreted in a manner, that, in the case of Participants who are persons whose compensation is subject to Section 162(m), satisfies any applicable requirements as performance-based compensation. Any provision,
application or interpretation of the Plan inconsistent with this intent to satisfy the standards in Section 162(m) of the Code shall be disregarded. As and to the extent provided under Section 162(m), the material terms of the performance
criteria under the Plan must be re-approved by the Company’s shareholders no later than the 2012 annual meeting of shareholders, if the Company intends that the Plan continue to meet the requirements for “performance-based
compensation” under Section 162(m) for Awards made following the date of such annual meeting. Notwithstanding anything to the contrary in the Plan, the provisions of the Plan may at any time be bifurcated by the Board or the Committee in
any manner so that certain provisions of the Plan or any Bonus intended (or required in order) to satisfy the applicable requirements of Section 162(m) are only applicable to persons whose compensation is subject to Section 162(m).

 Section 7.    Amendments, Suspension or Termination of Plan 
 The Board of Directors or the Committee may from time to time amend, suspend or terminate in whole or in part, and if suspended or terminated, may
reinstate, any or all of the provisions of the Plan. Notwithstanding the foregoing, no amendment shall be effective without Board of Directors and/or shareholder approval if such approval is necessary to comply with the applicable provisions of
Section 162(m). 
  

 10

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00116-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00116-of-00352.parquet"}]]