Document:

EXHIBIT 10.2

QUANTUM CORPORATION 

EMPLOYEE STOCK PURCHASE PLAN

(As Amended and Restated August 15,
2012) 

     The following constitute the
provisions of the Employee Stock Purchase Plan (herein called the “Plan”) of
Quantum Corporation (herein called the “Company”). 

     1. Purpose. The purpose of the Plan is to
provide Employees of the Company and its Designated Subsidiaries with an
opportunity to purchase Common Stock of the Company through accumulated payroll
deductions or other contributions. It is the intention of the Company to have
the Plan qualify as an “Employee Stock Purchase Plan” under Section 423 of the
Code, although the Company makes no undertaking or representation to maintain
such qualification. The provisions of the Plan shall, accordingly, be construed
so as to extend and limit participation in a manner consistent with the
requirements of that section of the Code. In addition, this Plan document
authorizes the purchase of Common Stock under a Non-423(b) Component, pursuant
to rules, procedures or sub-plans adopted by the Board or a committee appointed
by the Board and designed to achieve tax, securities law or other
objectives.

     2. Definitions. 

          (a)
“Board”
shall mean the Board of Directors of the Company. 

          (b)
“Code”
shall mean the Internal Revenue Code of 1986, as amended. Any reference to a
section of the Code herein will be a reference to any successor or amended
section of the Code. 

          (c)
“Code Section 423(b) Plan” shall mean an employee stock purchase plan which is designed
to meet the requirements set forth in Section 423(b) of the Code, as amended.
The provisions of the Code Section 423(b) Plan should be construed, administered
and enforced in accordance with Section 423(b) of the Code. 

          (d)
“Common Stock” shall mean the common stock of the Company. 

          (e)
“Company”
shall mean Quantum Corporation, a Delaware corporation. 

          (f)
“Compensation” shall mean all regular straight time earnings, payments for overtime,
shift premium, incentive compensation, incentive payments, bonuses and
commissions (except to the extent that the exclusion of any such items for all
participants is specifically directed by the Board or a committee appointed by
the Board).

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The Board or a committee appointed by
the Board shall have the power and discretion to (i) change the definition of
Compensation for future Offering Periods, and (ii) determine what constitutes
Compensation for Employees outside of the United States. 

          (g) “Continuous Status as an
Employee” shall mean the absence of any
interruption or termination of service as an Employee. Continuous Status as an
Employee shall not be considered interrupted in the case of: (i) a leave of
absence agreed to in writing by the Company, provided that such leave is for a
period of not more than 90 days or re-employment upon the expiration of such
leave is guaranteed by contract or statute; or (ii) notification by the Company
of termination under a reduction-in-force. Termination in the case of a
reduction-in-force shall be considered to have occurred at the end of the
employee’s continuation period. 

          (h)
“Designated Subsidiaries” shall mean the Subsidiaries which have been designated by
the Board or a committee appointed by the Board from time to time in its sole
discretion as eligible to participate in the Plan.

          (i)
“Employee”
means any person, including an officer, who is employed by the Company or one of
its Designated Subsidiaries. The Board or a committee appointed by the Board, in
its discretion, from time to time may, prior to an Enrollment Date for all
options to be granted on such Enrollment Date, determine (on a uniform and
nondiscriminatory basis) that the definition of Employee will or will not
include an individual if he or she: (i) has not completed at least two (2) years
of service since his or her last hire date (or such lesser period of time as may
be determined by the Board or a committee appointed by the Board in its
discretion), (ii) customarily works not more than twenty (20) hours per week or
not more than five (5) months per calendar year (or such lesser period of time
as may be determined by the Board or a committee appointed by the Board in its
discretion), or (iii) is a highly compensated employee under Section 414(q) of
the Code.

          (j)
“Enrollment Date” shall mean the first Trading Day on or after every February 6 and
August 6 of each year. 

          (k)
“Exercise Date” shall mean the date approximately six months after the Enrollment Date
of an Offering Period and shall be one Trading Day prior to an Enrollment Date
of the immediately following Offering Period.

          (l)
“Fair Market Value” means, as of any date, the closing sales price of the Common Stock (or
the closing bid, if no sales were reported) as quoted on the stock exchange with
the greatest volume of trading in Common Stock on the last market trading day
prior to the date of determination, as reported in The Wall Street Journal or such other
source as the Board or a committee appointed by the Board deems reliable.

          (m)
“Non-423(b) Component” means the grant of an option under the Plan which is not
intended to meet the requirements set forth in Section 423(b) of the Code, as
amended. 

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          (n)
“Offering Period” shall mean a period commencing on an Enrollment Date and ending on the
Exercise Date, approximately six (6) months later, or as otherwise set forth in
Section 4 hereof. 

          (o)
“Parent”
means a “parent corporation,” whether now or hereafter existing, as defined in
Section 424(e) of the Code. 

          (p)
“Plan”
shall mean this Employee Stock Purchase Plan, which includes a Code Section
423(b) Plan and a Non-423(b) Component. 

          (q)
“Purchase Price” shall have the meaning as set forth in Section 7(b). 

          (r)
“Subsidiary” shall mean a corporation, domestic or foreign, of which not less than
50% of the voting shares are held by the Company or a Subsidiary, whether or not
such corporation now exists or is hereafter organized or acquired by the Company
or a Subsidiary. 

          (s)
“Trading Day” shall mean a day on which the New York Stock Exchange is open for
trading. 

    
3. Eligibility 

          (a) Any
Employee (as defined in Section 2) who shall be employed by the Company or one
of its Designated Subsidiaries on the date his or her participation in the Plan
is effective shall be eligible to participate in the Plan, unless the Company,
in its discretion, decides that such participation would infringe any U.S. or
foreign law, rules or regulations. 

          (b) Any
provisions of the Plan to the contrary notwithstanding, no Employee shall be
granted an option under the Plan (i) if, immediately, after the grant, such
Employee (or any other person whose stock would be attributed to such Employee
pursuant to Section 424(d) of the Code) would own shares and/or hold outstanding
options to purchase stock possessing five percent (5%) or more of the total
combined voting power or value of all classes of stock of the Company or of any
Subsidiary, or (ii) which permits his or her rights to purchase shares under all
employee stock purchase plans (as defined in Section 423 of the Code) of the
Company and its Subsidiaries to accrue at a rate which exceeds Twenty-Five
Thousand Dollars (US$25,000) of the fair market value of the shares (determined
at the time such option is granted) for each calendar year in which such option
is outstanding at any time. 

          (c) No
employee of the Company or a Designated Subsidiary shall be eligible to
participate in the Non-423(b) Component of the Plan if he or she is an officer
or director of the Company subject to the requirements of Section 16 of the U.S.
Securities Exchange Act of 1934, as amended (the “Act”). 

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4. Offering Dates. The Plan shall be implemented by consecutive Offering
Periods with a new Offering Period commencing on an Enrollment Date, and shall
continue thereafter until terminated in accordance with Section 19 hereof. The
Board or a committee appointed by the Board shall have the power to change the
duration of Offering Periods with respect to future Offering Periods. In no
event shall the duration of an Offering Period exceed nine (9) months.
Notwithstanding the foregoing, no offers hereunder shall be made until
compliance with all applicable securities law has been obtained. 

    
5. Participation. 

          (a) An
eligible Employee may become a participant in the Plan by completing a
subscription agreement authorizing payroll deductions in the form and manner
determined by the Company in its discretion from time to time. The Company, in
its discretion, may decide that an Employee may submit contributions to the Plan
by means other than payroll deductions. 

          (b) Payroll
deductions to the Plan for a participant shall commence on the first payroll
following the Enrollment Date and shall end on the last payroll date in the
Offering Period to which such authorization is applicable, unless sooner
terminated by the participant as provided in Section 10. If participants are
permitted or required to contribute to the Plan by other means, the Company, in
its discretion, will determine the procedure for providing the contributions
prior to the Exercise Date. 

    
6. Payroll
Deductions/Contributions. 

          (a) At the
time a participant files his or her subscription agreement, he or she shall
elect to contribute to the Plan (in the form of payroll deductions or otherwise)
on each payday during the Offering Period at a rate not exceeding ten percent
(10%) of the Compensation which he or she received on such payday, and the
aggregate of such payroll deductions pursuant to the Plan during the Offering
Period shall not exceed ten percent (10%) of his or her aggregate Compensation
during said Offering Period. A participant’s subscription agreement shall remain
in effect for successive Offering Periods unless terminated as provided in
Section 10 hereof.

          (b) All
contributions made for a participant shall be credited to his or her account
under the Plan.

          (c) A
participant may discontinue participation in the Plan as provided in Section 10,
or may change the rate of payroll deductions or other contributions by
submitting written notice to the Company in the form and manner prescribed by
the Board or a committee appointed by the Board (or its designee) authorizing a
change in the participant’s payroll deduction or contribution rate. The change
rate shall be effective (i) in the case of a decrease in rate, with the first
payroll period following the Company’s receipt of the notice of rate change, and
(ii) in the case of an increase in rate at the beginning of the next Offering
Period following the Company’s receipt of the notice of 

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rate change. If a participant has not
followed the procedures prescribed by the Board or a committee appointed by the
Board (or its designee) to change the rate of payroll deductions or other
contributions, the rate of his or her payroll deductions or other contributions
will continue at the originally elected rate throughout the Offering Period and
future Offering Periods (unless terminated as provided in Section 10). The Board
or a committee appointed by the Board may, in its sole discretion, limit the
nature and/or number of payroll deduction or contribution rate changes that may
be made by participants during any Offering Period.

    
7. Grant of Option. 

          (a) On the
Enrollment Date of each Offering Period, each eligible Employee participating in
such Offering Period shall be granted an option to purchase on the Exercise Date
during such Offering Period up to a number of shares of the Company’s Common
Stock determined by dividing such Employee’s contributions to the Plan
accumulated during the Offering Period ending on such Exercise Date by the lower
of (i) eighty-five percent (85%) of the Fair Market Value of a share of the
Company’s Common Stock on the Enrollment Date, or (ii) eighty-five (85%) of the
Fair Market Value of a share of the Company’s Common Stock on the Exercise Date;
provided that in no event shall an Employee be permitted to purchase in one
calendar year more than a number of shares determined by dividing US$25,000 by
the Fair Market Value of a share of the Company’s Common Stock (determined at
the time such option is granted), and provided further that such purchase shall
be subject to the limitations set forth in Sections 3(b) and 12 hereof. The
option shall be automatically exercised on the Exercise Date during the Offering
Period, unless the participant has withdrawn pursuant to Section 10, and shall
expire on the last day of the Offering Period.

          (b) The
purchase price per share of the shares offered in a given offering Period shall
be the lower of: (i) 85% of the Fair Market Value of a share of the Common Stock
of the Company on the Enrollment Date; or (ii) 85% of the Fair Market Value of a
share of the Common Stock of the Company on the Exercise Date (such price, the
“Purchase Price”).

          (c)
Notwithstanding the foregoing, to the extent necessary to comply with Section
423(b)(8) of the Code and Section 3(b) herein, a participant’s contributions may
be decreased to 0% at such time during any Offering Period which is scheduled to
end during the current calendar year that the aggregate of all contributions
accumulated with respect to such Offering Period and any other Offering Period
ending within the same calendar year equal $21,250. Contributions shall
recommence at the rate provided in such participant’s subscription scheduled to
end in the following calendar year, unless terminated by the participant as
provided in Section 10. 

          (d) If the
Board or a committee appointed by the Board determines, in its sole discretion,
that the exercise of an option or the disposition of Common Stock issued under
the Plan will result in tax liability for which the Company or a Designated
Subsidiary will have an obligation to withhold, the participant must make
adequate 

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provision for the payment of such
federal, state, local and foreign income, social insurance, employment and any
other applicable taxes. At any time, the Company or the Designated Subsidiary
may, but will not be obligated to, withhold from the participant’s compensation
the amount necessary for the Company or the Designated Subsidiary to meet
applicable withholding obligations, including any withholding required to make
available to the Company or the Designated Subsidiary any tax deductions or
benefits attributable to the sale or early disposition of Common Stock by the
eligible Employee. 

    
8. Exercise of Option. The participant’s option for the purchase of shares will be
exercised automatically on each Exercise Date of each Offering Period and the
maximum number of full shares subject to option will be purchased for such
participant at the applicable Purchase Price with the accumulated payroll
deductions or other contributions in his or her account unless prior to such
Exercise Date the participant has withdrawn from the Offering Period as provided
in Section 10 or unless any of the limitations under Sections 3, 7 or 12 would
be exceeded. During a participant’s lifetime, a participant’s option to purchase
shares hereunder is exercisable only by the participant. No fractional shares
shall be purchased; any payroll deductions or other contributions accumulated in
a participant’s account which are not sufficient to purchase a full share, or
which would cause the limitations under Sections 3, 7 or 12 hereof to be
exceeded, shall be returned to the participant after the Exercise Date.

    
9. Delivery. As promptly as practicable after each Exercise Date, the Company shall
arrange the delivery to each participant, as appropriate, the shares of Common
Stock purchased upon exercise of the option. The Company may permit or require
that shares be deposited directly with a broker designated by the Company or to
a designated agent of the Company, and the Company may utilize electronic or
automated methods of share transfer. The Company may require that shares be
retained with such broker or agent for a designated period of time and/or may
establish other procedures to permit tracking of disqualifying dispositions of
such shares. No participant will have any voting, dividend, or other stockholder
rights with respect to shares of Common Stock subject to any option granted
under the Plan until such shares have been purchased and delivered to the
participant as provided in this Section 9. 

    
10. Withdrawal; Termination of
Employment. 

          (a) A
participant may withdraw all but not less than all the contributions credited to
his or her account under the Plan at any time prior to the end of the Offering
Period by giving written notice to the Company in the form and manner prescribed
by the Board or a committee appointed by the Board for such purpose. All of the
participant’s contributions credited to his or her account will be paid to him
or her promptly after receipt of his or her notice of withdrawal and his or her
option for the current Offering Period will be automatically terminated, and no
further contributions for the purchase of shares will be made during the
Offering Period. If a participant withdraws from an Offering Period,
contributions may not resume at the beginning of the succeeding Offering Period
unless the participant delivers to the Company a new subscription agreement.

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          (b) Upon
termination of the participant’s employment prior to the end of the Offering
Period for any reason, including retirement or death, the contributions credited
to his or her account will be returned to him or, in the case of his or her
death, to the person or persons entitled thereto under Section 14, and his or
her option will be automatically terminated; provided that if an Employee shall
take a leave of absence approved by the Company in accordance with Section 2(g)
of this Plan during an Offering Period in which the Employee is a participant,
the participant will be deemed to have his or her contributions reduced to 0%
during such leave of absence, but he or she shall continue to be a participant
in the applicable Offering Period and upon his or her return to employment with
the Company shall be eligible to participate fully in any remaining portion of
the applicable Offering Period. If the participant fails to return to employment
with the Company at the end of such authorized leave of absence, or if his or
her employment is otherwise terminated earlier, he or she shall be deemed to
have withdrawn from participation in the Plan. 

          (c) A
participant’s withdrawal from an Offering Period will not have any effect upon
his or her eligibility to participate in any similar plan which may hereafter be
adopted by the Company or in succeeding Offering Periods. 

    
11. Interest. No interest shall accrue on the contributions of a participant in the
Plan, unless required by applicable law. 

    
12. Stock. 

          (a) The
maximum number of shares of the Company’s Common Stock which shall be made
available for sale under the Plan shall be 19,734,637, subject to adjustment
upon changes in capitalization of the Company as provided in Section 18. In
addition, in no event shall more than 2,000,000 shares of the Company’s Common
Stock (subject to adjustment upon changes in capitalization of the Company as
provided in Section 18) be made available for sale under the Plan in any one
Offering Period. Furthermore, the Company, in its discretion, may decide to
impose a limit on the number of shares of the Company’s Common Stock that each
participant may purchase during any one Offering Period. If the total number of
shares which would otherwise be subject to options granted pursuant to Section
7(a) hereof at the beginning of an Offering Period exceeds the number of shares
then available under the Plan (after deduction of all shares for which options
have been exercised or are then outstanding) or the 2,000,000 share limit for
any Offering Period, the Company shall make a pro rata allocation of the shares
remaining available for option grant in as uniform a manner as shall be
practicable and as it shall determine to be equitable. In such event, the
Company shall give written notice of such reduction of the number of shares
subject to the option to each Employee affected thereby and shall similarly
reduce the rate of contributions, if necessary. 

          (b) Until
the shares are issued (as evidenced by the appropriate entry on the books of the
Company or of a duly authorized transfer agent of the Company), a participant
will only have the rights of an unsecured creditor with respect to such shares,

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and no right to vote or receive
dividends or any other rights as a stockholder will exist with respect to such
shares. 

          (c) Shares
to be delivered to a participant under the Plan will be registered in the name
of the participant or in the name of the participant and his or her spouse, or
as otherwise directed by the participant. 

    
13. Administration. The Plan shall be administered by the Board of Directors of
the Company or a committee appointed by the Board. The Board or a committee
appointed by the Board will have full and exclusive discretionary authority to
construe, interpret and apply the terms of the Plan, to designate separate
Offerings under the Plan, to determine eligibility, to adjudicate all disputed
claims filed under the Plan and to establish such procedures that it deems
necessary for the administration of the Plan (including, without limitation, to
adopt such procedures and sub-plans as are necessary or appropriate to permit
the participation in the Plan by employees who are foreign nationals or employed
outside the U.S., the terms of which sub-plans may take precedence over other
provisions of this Plan, with the exception of Section 12(a), but unless
otherwise superseded by the terms of such sub-plan, the provisions of this Plan
shall govern the operation of such sub-plan). Unless otherwise determined by the
Board or a committee appointed by the Board, the Employees eligible to
participate in each sub-plan will participate in a separate Offering. Without
limiting the generality of the foregoing, the Board or a committee appointed by
the Board is specifically authorized (in its discretion) to adopt rules and
procedures regarding eligibility to participate, the form and manner for making
elections under the Plan, the definition of Compensation, handling of
Contributions, making of Contributions to the Plan (including, without
limitation, in forms other than payroll deductions), establishment of bank or
trust accounts to hold Contributions, payment of interest (if any), conversion
of local currency, obligations to pay payroll tax, determination of beneficiary
designation requirements and withholding procedures and handling of stock
certificates that vary with applicable local requirements. The Board or a
committee appointed by the Board also is authorized to determine that, to the
extent permitted by U.S. Treasury Regulation Section 1.423 2(f), the terms of an
option granted under the Plan or an Offering to citizens or residents of a
non-U.S. jurisdiction will be less favorable than the terms of options granted
under the Plan or the same Offering to employees resident solely in the U.S.
Every finding, decision, interpretation and determination made by the Board or a
committee appointed by the Board will, to the full extent permitted by law, be
final and binding upon all parties. 

    
14. Designation of
Beneficiary. 

          (a) Unless
otherwise determined by the Company, a participant may file a written
designation of a beneficiary who is to receive any shares and cash, if any, from
the participant’s account under the Plan in the event of such participant’s
death subsequent to the end of the Offering Period but prior to delivery to him
of such shares and cash. In addition, unless otherwise determined by the
Company, a participant may file a written designation of a beneficiary who is to
receive any cash from the participant’s 

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account under the Plan in the event of
such participant’s death prior to the end of the Offering Period. 

          (b) Unless
otherwise determined by the Company, such designation of beneficiary may be
changed by the participant at any time by written notice to the Company in the
form and manner prescribed by the Board or a committee appointed by the Board
for such purpose. In the event of the death of a participant and in the absence
of a beneficiary validly designated under the Plan who is living at the time of
such participant’s death, the Company shall deliver such shares and/or cash to
the executor or administrator of the estate of the participant, or if no such
executor or administrator has been appointed (to the knowledge of the Company),
the Company, in its discretion, may deliver such shares and/or cash to the
spouse or to any one or more dependents or relatives of the participant, or if
no spouse, dependent or relative is known to the Company, then to such other
person as the Company may designate or determine to be the appropriate
recipients of the shares and/or cash under applicable law. 

          (c) All
beneficiary designations will be in such form and manner as the Board or a
committee appointed by the Board may prescribe from time to time. 

    
15. Transferability. Neither contributions credited to a participant’s account
nor any rights with regard to the exercise of an option or to receive shares
under the Plan may be assigned, transferred, pledged or otherwise disposed of in
any way (other than by will, the laws of descent and distribution or as provided
in Section 14 hereof) by the participant. Any such attempt at assignment,
transfer, pledge or other disposition shall be without effect, except that the
Company may treat such act as an election to withdraw funds in accordance with
Section 10. 

    
16. Use of Funds. All contributions received or held by the Company under the
Plan may be used by the Company for any corporate purpose, and the Company shall
not be obligated to segregate such contributions, unless required by applicable
law. Until shares of Common Stock are issued, participants will only have the
rights of an unsecured creditor with respect to such shares. 

    
17. Reports. Individual accounts will be maintained for each participant in the
Plan. Statements of account will be given to participating Employees at least
annually as promptly as practically feasible following an Exercise Date, which
statements will set forth the amounts of contributions, the per share Purchase
Price, the number of shares purchased and the remaining cash balance, if any.

    
18. Adjustments Upon Changes in
Capitalization. In the event that any
dividend or other distribution (whether in the form of cash, shares of Common
Stock, other securities, or other property), recapitalization, stock split,
reverse stock split, reorganization, merger, consolidation, split-up, spin-off,
combination, repurchase, or exchange of shares of Common Stock or other
securities of the Company, or other change in the corporate structure of the
Company that affects the shares of Common Stock, then the Board or a committee
appointed by the Board shall, in such manner as it may deem 

9

equitable, adjust the number and class
of shares of Common Stock (or other securities, property or cash) that may be
delivered under the Plan, and the number, class, and price of shares of Common
Stock subject to any option under the Plan which has not yet been exercised, as
determined by the Board or a committee appointed by the Board (in its sole
discretion) to be appropriate in order to prevent dilution or enlargement of the
benefits or potential benefits intended to be made available under the
Plan.

    
19. Amendment or
Termination. 

          (a) The
Board of Directors of the Company may at any time and for any reason terminate
or amend the Plan. Except as provided in Section 18 hereof, no such termination
can affect options previously granted, provided that an Offering Period may be
terminated by the Board of Directors or a committee appointed by the Board on an
Exercise Date if the Board or its committee, as applicable, determines that the
termination of the Offering Period or the Plan is in the best interests of the
Company and its shareholders. Except as provided in Section 18 and this Section
19 hereof, no amendment may make any change in any option theretofore granted
which adversely affects the rights of any participant. To the extent necessary
to comply with Section 423 of the Code (or any successor rule or provision or
any other applicable law, regulation or stock exchange rule), the Company shall
obtain shareholder approval in such a manner and to such a degree as required.

          (b) Without
shareholder consent and without regard to whether any participant rights may be
considered to have been “adversely affected,” the Board (or its committee) shall
be entitled to change the Offering Periods, limit the frequency and/or number of
changes in the amount withheld during an Offering Period, establish the exchange
ratio applicable to amounts withheld in a currency other than U.S. dollars,
permit payroll withholding or contributing to the Plan in excess of the amount
designated by a participant in order to adjust for delays or mistakes in the
Company’s processing of properly completed withholding elections, establish
reasonable waiting and adjustment periods and/or accounting and crediting
procedures to ensure that amounts applied toward the purchase of Common Stock
for each participant properly correspond with amounts withheld from the
participant’s Compensation, and establish such other limitations or procedures
as the Board (or its committee) determines in its sole discretion advisable
which are consistent with the Plan. 

    
Such modifications or amendments shall not require stockholder approval
or the consent of any Plan participants. 

    
20. Notices. All notices or other communications by a participant to the Company
under or in connection with the Plan shall be deemed to have been duly given
when received in the form specified by the Company at the location, or by the
person, designated by the Company for the receipt thereof. 

    
21. Stockholder
Approval. If required by Section 19, any
amendment to the Plan shall be subject to approval by the stockholders of the
Company within twelve 

10

months before or after the date such
amendment is adopted. If such stockholder approval is obtained at a duly held
stockholders’ meeting, it may be obtained by the affirmative vote of the holders
of a majority of the outstanding shares of the Company present or represented
and entitled to vote thereon, which approval shall be: 

          (a)
solicited substantially in accordance with Section 14(a) of the Act and the
rules and regulations promulgated thereunder, or (2) solicited after the Company
has furnished in writing to the holders entitled to vote substantially the same
information concerning the Plan as that which would be required by the rules and
regulations in effect under Section 14(a) of the Act at the time such
information is furnished; and 

          (b)
obtained at or prior to the first annual meeting of stockholders held subsequent
to the later of (i) the first registration of Common Stock under Section 12 of
the Act, or (ii) the acquisition of an equity security for which exemption is
claimed. 

          In the case
of approval by written consent, it must be obtained in accordance with
applicable state law. 

    
22. Conditions Upon Issuance of
Shares. Shares shall not be issued with
respect to an option unless the exercise of such option and the issuance and
delivery of such shares pursuant thereto shall comply with all applicable
provisions of law, domestic or foreign, including, without limitation, the U.S.
Securities Act of 1933, as amended, the Act, the rules and regulations
promulgated thereunder, and the requirements of any stock exchange upon which
the shares may then be listed, and shall be further subject to the approval of
counsel for the Company with respect to such compliance.

    
As a condition to the exercise of an option, the Company may require the
person exercising such option to represent and warrant at the time of any such
exercise that the shares are being purchased only for investment and without any
present intention to sell or distribute such shares if, in the opinion of
counsel for the Company, such a representation is required by any of the
aforementioned applicable provisions of law. 

    
23. Dissolution or
Liquidation. In the event of the proposed
dissolution or liquidation of the Company, the Offering Period then in progress
shall be shortened by setting a new Exercise Date (the “New Exercise Date”), and
shall terminate immediately prior to the consummation of such proposed
dissolution or liquidation, unless provided otherwise by the Board or a
committee appointed by the Board. The New Exercise Date shall be before the date
of the Company’s proposed dissolution or liquidation. The Board or a committee
appointed by the Board shall notify each participant in writing, at least ten
(10) business days prior to the New Exercise Date, that the Exercise Date for
the participant’s option has been changed to the New Exercise Date and that the
participant’s option shall be exercised automatically on the New Exercise Date,
unless prior to such date the participant has withdrawn from the Offering Period
as provided in Section 10 hereof. 

11

     24.
Merger or Asset Sale. In the event of a merger of the Company with or into another
corporation or the sale of substantially all of the assets of the Company, each
outstanding option shall be assumed or an equivalent option substituted by the
successor corporation or a Parent or Subsidiary of the successor corporation. In
the event that the successor corporation refuses to assume or substitute for the
option, the Offering Period then in progress shall be shortened by setting a New
Exercise Date and such Offering Period shall end on the New Exercise Date. The
New Exercise Date shall be before the date of the Company’s proposed merger or
asset sale. The Board or a committee appointed by the Board shall notify each
participant in writing, at least ten (10) business days prior to the New
Exercise Date, that the Exercise Date for the participant’s option has been
changed to the New Exercise Date and that the participant’s option shall be
exercised automatically on the New Exercise Date, unless prior to such date the
participant has withdrawn from the Offering Period as provided in Section 10
hereof. 

    
25. Code Section 409A. The Code Section 423(b) Plan is exempt from the application
of Section 409A of the Code. The Non-423(b) Component is intended to be exempt
from Section 409A of the Code under the short-term deferral exception and any
ambiguities shall be construed and interpreted in accordance with such intent.
In the case of a participant who would otherwise be subject to Section 409A of
the Code, to the extent an option to purchase shares of Common Stock or the
payment, settlement or deferral thereof is subject to Section 409A of the Code,
the option to purchase shares of Common Stock shall be granted, paid, exercised,
settled or deferred in a manner that will comply with Section 409A of the Code,
including the final regulations and other guidance issued with respect thereto,
except as otherwise determined by the Board or a committee appointed by the
Board. Notwithstanding the foregoing, the Company shall have no liability to a
participant or any other party if the option to purchase Common Stock under the
Plan that is intended to be exempt from or compliant with Section 409A of the
Code is not so exempt or compliant or for any action taken by the Board or a
committee appointed by the Board with respect thereto. 

    
26. Governing Law. Except to the extent that provisions of this Plan are
governed by applicable provisions of the Code or any other substantive provision
of federal law, this Plan shall be construed in accordance with, and shall be
governed by, the substantive laws of the State of California without regard to
any provisions of California law relating to the conflict of laws. 

12EXHIBIT 10.3

QUANTUM CORPORATION
EXECUTIVE OFFICER
INCENTIVE PLAN 
(April 1, 2012 Restatement)

SECTION 1. 
BACKGROUND AND
PURPOSE 

     1.1 Effective Date 

    
The Plan, which was adopted by the Company effective as of April 1, 2001,
is hereby amended and restated effective as of April 1, 2012 subject to
ratification by an affirmative vote of the holders of a majority of the Shares
that are present in person or by proxy and entitled to vote at the 2012 Annual
Meeting of Stockholders of the Company. 

    
1.2 Purpose of the Plan 

    
The Plan is intended to increase stockholder value and the success of the
Company by motivating key executives (1) to perform to the best of their
abilities, and (2) to achieve the Company’s objectives. The Plan’s goals are to
be achieved by providing participants with the opportunity to earn with
incentive awards for the achievement of goals relating to the performance of the
Company. The Plan is intended to permit the payment of awards that qualify as
performance-based compensation under Section 162(m) of the Code. 

SECTION 2.
DEFINITIONS 

    
The following words and phrases shall have the following meanings unless
a different meaning is plainly required by the context: 

    
2.1 “1934 Act” means the Securities Exchange Act of 1934, as amended. Reference to a
specific section of the 1934 Act or regulation thereunder shall include such
section or regulation, any valid regulation promulgated under such section, and
any comparable provision of any future legislation or regulation amending,
supplementing or superseding such section or regulation. 

    
2.2 “Actual Award” means as to any Performance Period, the actual award (if
any) payable to a Participant for the Performance Period. Each Actual Award is
determined by the Payout Formula for the Performance Period, subject to the
Committee’s authority under Section 3.6 to reduce or eliminate the award
otherwise determined by the Payout Formula. 

    
2.3 “Affiliate” means any corporation or other entity (including, but not limited to,
partnerships and joint ventures) controlled by the Company. 

    
2.4 “Board” means the Board of Directors of the Company. 

1

    
2.5 “Code” means the Internal Revenue Code of 1986, as amended. Reference to a
specific section of the Code or regulation thereunder shall include such section
or regulation, any valid regulation promulgated thereunder, and any comparable
provision of any future legislation or regulation amending, supplementing or
superseding such section or regulation. 

    
2.6 “Committee” means the committee appointed by the Board (pursuant to Section 5.1) to
administer the Plan. 

    
2.7 “Company” means Quantum Corporation, a Delaware corporation, or any successor
thereto. 

    
2.8 “Determination Date” means the latest possible date that will not jeopardize a
Target Award or Actual Award’s qualification as performance-based compensation
under Section 162(m) of the Code. 

    
2.9 “Employee” means any employee of the Company or of an Affiliate, whether such
employee is so employed at the time the Plan is adopted or becomes so employed
subsequent to the adoption of the Plan. 

    
2.10 “Fiscal Quarter” means a fiscal quarter of the Company. 

    
2.11 “Fiscal Year” means the fiscal year of the Company. 

    
2.12 “Participant” means as to any Performance Period, an Employee who has been selected
by the Committee for participation in the Plan for that Performance Period.

    
2.13 “Payout Formula” means as to any Performance Period, the formula or payout
matrix established by the Committee pursuant to Section 3.4 in order to
determine the Actual Awards (if any) to be paid to Participants. The formula or
matrix may differ from Participant to Participant. 

    
2.14 “Performance Goals” means the goal(s) (or combined goal(s)) determined by the
Committee (in its discretion) to be applicable to a Participant for a Target
Award for a Performance Period. As determined by the Committee, the Performance
Goals for any Target Award applicable to a Participant may provide for a
targeted level or levels of achievement using one or more of the following
measures: (a) cash flow, (b) customer satisfaction, (c) earnings per share, (d)
expense control, (e) margin, (f) market share, (g) operating profit, (h) product
development and/or quality, (i) profit, (j) return on capital, (k) return on
equity, (l) revenue and (m) total shareholder return. Performance Goals may
differ from Participant to Participant, Performance Period to Performance Period
and from award to award. Any Performance Goal used may be measured (1) in
absolute terms, (2) in combination with another Performance Goal or Goals (for
example, but not by way of limitation, as a ratio or matrix), (3) in relative
terms (including, but not limited to, as compared to results for other periods
of time, against financial metrics and/or against another company, companies or
an index or indices), (4) on a per-share or per-capita basis, (5) against the
performance of the Company as a whole or a specific business unit(s), business
segment(s) or product(s) of the Company, and/or (6) on a pre-tax or after-tax
basis. Prior to the Determination Date, the Committee, in its discretion, will
determine whether any significant element(s) or item(s) will be included in or

2

excluded from the calculation of any
Performance Goal with respect to any Participants (for example, but not by way
of limitation, the effect of mergers and acquisitions). As determined in the
discretion of the Committee prior to the Determination Date, achievement of
Performance Goals for any particular Target Award may be calculated in
accordance with the Company’s financial statements, prepared in accordance with
generally accepted accounting principles, or as adjusted for certain costs,
expenses, gains and losses to provide non-GAAP measures of operating results.

    
2.15 “Performance Period” means any Fiscal Year (or period of four (4) consecutive
Fiscal Quarters) or such other period longer than a Fiscal Year but not longer
than three Fiscal Years (or period of twelve (12) consecutive Fiscal Quarters),
as determined by the Committee in its sole discretion. 

    
2.16 “Plan” means the Quantum Corporation Executive Officer Incentive Plan, as set
forth in this instrument and as hereafter amended from time to time. 

    
2.17 “Shares” means shares of the Company’s common stock. 

    
2.18 “Target Award” means the target award payable under the Plan to a
Participant for the Performance Period as determined by the Committee in
accordance with Section 3.3. 

SECTION 3. 
SELECTION OF PARTICIPANTS AND
DETERMINATION OF AWARDS 

    
3.1 Selection of Participants

    
The Committee, in its sole discretion, shall select the Employees of the
Company who shall be Participants for any Performance Period. The Committee, in
its sole discretion, also may designate as Participants one or more individuals
(by name or position) who are expected to become Employees during a Performance
Period. Participation in the Plan is in the sole discretion of the Committee,
and shall be determined on a Performance Period by Performance Period basis.
Accordingly, an Employee who is a Participant for a given Performance Period in
no way is guaranteed or assured of being selected for participation in any
subsequent Performance Period. 

    
3.2 Determination of Performance Goals

    
The Committee, in its sole discretion, shall establish the Performance
Goals for each Participant for the Performance Period. Such Performance Goals
shall be set forth in writing. The Performance Goals may differ from Participant
to Participant and from award to award. The Committee shall also determine and
set forth in writing whether any significant elements shall be included in or
excluded from the calculation of any Performance Goal with respect to any
Participants, including (a) restructurings, discontinued operations,
extraordinary items, and other unusual or non-recurring charges, (b) an event
either not directly related to the operations of the Company or not within the
reasonable control of the Company’s management, or (c) the cumulative effects of
tax or accounting changes in accordance with U.S. generally accepted accounting
principles. 

3

    
3.3 Determination of Target Awards

    
The Committee, in its sole discretion, shall establish a Target Award for
each Participant. Each Participant’s Target Award shall be determined by the
Committee in its sole discretion, and each Target Award shall be set forth in
writing. The Target Award may be denominated by reference to a formula, a
percentage of base salary, or a fixed dollar amount. 

    
3.4 Determination of Payout Formula or Formulae 

    
The Committee, in its sole discretion, shall establish a Payout Formula
or Formulae for purposes of determining the Actual Award (if any) payable to
each Participant. Each Payout Formula shall (a) be in writing, (b) be based on a
comparison of actual performance to the Performance Goals, (c) provide for the
payment of a Participant’s Target Award if the Performance Goals for the
Performance Period are achieved at the predetermined level, and (d) provide for
the payment of an Actual Award greater than or less than the Participant’s
Target Award, depending upon the extent to which actual performance exceeds or
falls below the Performance Goals. Notwithstanding the preceding, no
Participant’s Actual Award(s) under the Plan may, for any period of three (3)
consecutive Fiscal Years, exceed $15,000,000. 

    
3.5 Date for Determinations

    
The Committee shall make all determinations under Section 3.1 through 3.4
on or before the latest possible date that will not jeopardize a Target Award or
Actual Award’s qualification as performance-based compensation under Section
162(m) of the Code. For Fiscal Year Performance Periods, such date is expected
to be the earlier of (i) 90 days after the commencement of each Performance
Period or (ii) the expiration of 25% of the Performance Period. 

    
3.6 Determination of Actual Awards

    
After the end of each Performance Period, the Committee shall certify in
writing (for example, in its meeting minutes) the extent to which the
Performance Goals applicable to each Participant for the Performance Period were
achieved or exceeded, as determined by the Committee. The Actual Award for each
Participant shall be determined by applying the Payout Formula to the level of
actual performance which has been certified by the Committee. Notwithstanding
any contrary provision of the Plan, the Committee, in its sole discretion, may
(a) eliminate or reduce the Actual Award payable to any Participant below that
which otherwise would be payable under the Payout Formula, and (b) determine
what Actual Award, if any, will be paid in the event of a Termination of Service
prior to the end of the Performance Period. 

SECTION 4. 
PAYMENT OF AWARDS 

    
4.1 Right to Receive Payment

    
Each Actual Award that may become payable under the Plan shall be paid
solely from the general assets of the Company. Nothing in this Plan shall be
construed to create a trust or to 

4

establish or evidence any Participant’s
claim of any right other than as an unsecured general creditor with respect to
any payment to which he or she may be entitled. 

    
4.2 Timing of Payment 

    
Payment of each Actual Award shall be made as soon as practicable, but no
later than two and one-half months after the end of the Performance Period
during which the Actual Award was earned. 

    
4.3 Form of Payment 

    
Each Actual Award shall be paid in cash (or its equivalent) or Shares in
a single lump sum, except as otherwise determined by the Committee, in its sole
discretion. To the extent an Actual Award, in whole or in part, is payable in
Shares, such Shares shall be granted under the Company’s 2012 Long-Term
Incentive Plan or such other shareholder approved plan of the Company providing
for payment of Shares as the Committee may determine. If (a) an Actual Award is
paid in Shares or (b) a Target Award denominated in Shares is paid in cash, the
number of Shares to be determined shall be determined by dividing the cash
amount otherwise payable by the closing per share selling price for Shares as
quoted on the New York Stock Exchange on the date payment of the Actual Award is
to be made. 

    
4.4 Payment in the Event of Death

    
If a Participant dies prior to the payment of an Actual Award earned by
him or her prior to death for a prior Performance Period, the Award shall be
paid to administrator or representative of his or her estate, except as provided
in Section 6.6. 

SECTION 5.
ADMINISTRATION 

    
5.1 Committee is the Administrator

    
The Plan shall be administered by the Committee. The Committee shall
consist of not less than two (2) members of the Board. The members of the
Committee shall be appointed from time to time by, and serve at the pleasure of,
the Board. Each member of the Committee shall qualify as an “outside director”
under Section 162(m) of the Code. If it is later determined that one or more
members of the Committee do not so qualify, actions taken by the Committee prior
to such determination shall be valid despite such failure to qualify. Unless
otherwise determined by the Board, the Plan shall be administered by the
Compensation Committee of the Board. 

    
5.2 Committee Authority 

    
It shall be the duty of the Committee to administer the Plan in
accordance with the Plan’s provisions. The Committee shall have all powers and
discretion necessary or appropriate to administer the Plan and to control its
operation, including, but not limited to, the power to (a) determine which
Employees shall be granted awards, (b) prescribe the terms and conditions of
awards, (c) interpret the Plan and the awards, (d) adopt such procedures and
subplans as are 

5

necessary or appropriate to permit
participation in the Plan by Employees who are foreign nationals or employed
outside of the United States, (e) adopt rules for the administration,
interpretation and application of the Plan as are consistent therewith, and (f)
interpret, amend or revoke any such rules. 

    
5.3 Decisions Binding 

    
All interpretations, determinations and decisions made by the Committee,
the Board, and any delegate of the Committee pursuant to the provisions of the
Plan shall be final, conclusive, and binding on all persons, and shall be given
the maximum deference permitted by law. 

    
5.4 Delegation by the Committee

    
The Committee, in its sole discretion and on such terms and conditions as
it may provide, may delegate all or part of its authority and powers under the
Plan to one or more directors and/or officers of the Company; provided, however,
that the Committee may delegate its authority and powers only to the extent
consistent with applicable laws (including the provisions of Section 162(m) of
the Code to the extent applicable) and the rules and regulations of the
principal securities market on which the Company’s securities are listed or
qualified for trading. 

SECTION 6.
GENERAL PROVISIONS 

    
6.1 Tax Withholding 

    
The Company (or an Affiliate) shall withhold all applicable taxes from
any Actual Award, including any federal, state, local and other taxes
(including, but not limited to, the Participant’s FICA and SDI obligations).

    
6.2 No Effect on Employment or Service

    
Nothing in the Plan shall interfere with or limit in any way the right of
the Company to terminate any Participant’s employment or service at any time,
with or without cause. For purposes of the Plan, transfer of employment of a
Participant between the Company and any one of its Affiliates (or between
Affiliates) shall not be deemed a termination of employment or service.
Employment with the Company and its Affiliates is on an at-will basis only. The
Company and its Affiliates expressly reserve the right, which may be exercised
at any time and without regard to when during a Performance Period such exercise
occurs, to terminate any individual’s employment or service with or without
cause, and to treat him or her without regard to the effect which such treatment
might have upon him or her as a Participant. 

    
6.3 Participation 

    
No Employee shall have the right to be selected to receive an award under
this Plan, or, having been so selected, to be selected to receive a future
award. 

6

    
6.4 Indemnification 

    
Each person who is or shall have been a member of the Committee, or of
the Board, shall be indemnified and held harmless by the Company against and
from (a) any loss, cost, liability, or expense that may be imposed upon or
reasonably incurred by him or her in connection with or resulting from any
claim, action, suit, or proceeding to which he or she may be a party or in which
he or she may be involved by reason of any action taken or failure to act under
the Plan or any award, and (b) from any and all amounts paid by him or her in
settlement thereof, with the Company’s approval, or paid by him or her in
satisfaction of any judgment in any such claim, action, suit, or proceeding
against him or her, provided he or she shall give the Company an opportunity, at
its own expense, to handle and defend the same before he or she undertakes to
handle and defend it on his or her own behalf. The foregoing right of
indemnification shall not be exclusive of any other rights of indemnification to
which such persons may be entitled under the Company’s Certificate of
Incorporation or Bylaws, by contract, as a matter of law, or otherwise, or under
any power that the Company may have to indemnify them or hold them harmless.

    
6.5 Successors 

    
All obligations of the Company under the Plan, with respect to awards
granted hereunder, shall be binding on any successor to the Company, whether the
existence of such successor is the result of a direct or indirect purchase,
merger, consolidation, or otherwise, of all or substantially all of the business
or assets of the Company. 

    
6.6 Beneficiary Designations

         
a. Designation. Each Participant may,
pursuant to such uniform and nondiscriminatory procedures as the Committee may
specify from time to time, designate one or more beneficiaries to receive any
Actual Award payable to the Participant at the time of his or her death.
Notwithstanding any contrary provision of this Section 6.6 shall be operative
only after (and for so long as) the Committee determines (on a uniform and
nondiscriminatory basis) to permit the designation of beneficiaries. 

         
b. Changes. A Participant may designate
different beneficiaries (or may revoke a prior beneficiary designation) at any
time by delivering a new designation (or revocation of a prior designation) in
like manner. Any designation or revocation shall be effective only if it is
received by the Committee. However, when so received, the designation or
revocation shall be effective as of the date the designation or revocation is
executed (whether or not the Participant still is living), but without prejudice
to the Committee on account of any payment made before the change is recorded.
The last effective designation received by the Committee shall supersede all
prior designations. 

         
c. Failed Designation. If the Committee
does not make this Section 6.6 operative or if Participant dies without having
effectively designated a beneficiary, the Participant’s Account shall be payable
to the general beneficiary shown on the records of the Employer. If no
beneficiary survives the Participant, the Participant’s Account shall be payable
to his or her estate. 

7

    
6.7 Nontransferability of Awards

    
No award granted under the Plan may be sold, transferred, pledged,
assigned, or otherwise alienated or hypothecated, other than by will, by the
laws of descent and distribution, or to the limited extent provided in Section
6.6. All rights with respect to an award granted to a Participant shall be
available during his or her lifetime only to the Participant. 

    
6.8 Deferrals 

    
The Committee, in its sole discretion, may permit a Participant to defer
receipt of the payment of cash or Shares that would otherwise be delivered to a
Participant under the Plan. Any such deferral elections shall be subject to such
rules and procedures as shall be determined by the Committee in its sole
discretion and shall be under a plan or arrangement consistent with the
requirements of Section 409A of the Code. 

    
6.9 Section 409A 

    
It is intended that all bonuses payable under this Plan will be exempt
from the requirements of Section 409A pursuant to the “short-term deferral”
exemption or, in the alternative, will comply with the requirements of Section
409A so that none of the payments and benefits to be provided under this Plan
will be subject to the additional tax imposed under Section 409A, and any
ambiguities or ambiguous terms herein shall be interpreted to so comply or be
exempt. Each payment and benefit payable under this Plan is intended to
constitute a separate payment for purposes of Section 1.409A-2(b)(2) of the
Treasury Regulations. The Company may, in good faith and without the consent of
any Participant, make any amendments to this Plan and take such reasonable
actions which it deems necessary, appropriate or desirable to avoid imposition
of any additional tax or income recognition under Section 409A prior to actual
payment to the Participant 

SECTION 7. 
AMENDMENT, TERMINATION AND
DURATION 

    
7.1 Amendment, Suspension or Termination 

    
The Board or the Committee, each in its sole discretion, may amend or
terminate the Plan, or any part thereof, at any time and for any reason. The
amendment, suspension or termination of the Plan shall not, without the consent
of the Participant, alter or impair any rights or obligations under any Target
Award theretofore granted to such Participant. No award may be granted during
any period of suspension or after termination of the Plan. 

    
7.2 Duration of the Plan 

    
The Plan shall commence on the date specified herein, and subject to
Section 7.1 (regarding the Board’s or the Committee’s right to amend or
terminate the Plan), shall remain in effect thereafter. 

8

SECTION 8.
LEGAL CONSTRUCTION 

    
8.1 Gender and Number 

    
Except where otherwise indicated by the context, any masculine term used
herein also shall include the feminine; the plural shall include the singular
and the singular shall include the plural. 

    
8.2 Severability 

    
In the event any provision of the Plan shall be held illegal or invalid
for any reason, the illegality or invalidity shall not affect the remaining
parts of the Plan, and the Plan shall be construed and enforced as if the
illegal or invalid provision had not been included. 

    
8.3 Requirements of Law 

    
The granting of awards under the Plan shall be subject to all applicable
laws, rules and regulations, and to such approvals by any governmental agencies
or national securities exchanges as may be required. 

    
8.4 Governing Law 

    
The Plan and all awards shall be construed in accordance with and
governed by the laws of the State of California, but without regard to its
conflict of law provisions. 

    
8.5 Captions 

    
Captions are provided herein for convenience only, and shall not serve as
a basis for interpretation or construction of the Plan. 

9

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