Document:

Exhibit 10.3

 Exhibit 10.3 

FORM OF 

SAFENET, INC. 

STOCK INCENTIVE PLAN 

STOCK OPTION AGREEMENT 

THIS STOCK OPTION AGREEMENT (this “Option Agreement”) dated
                         by and between SafeNet, Inc., a Delaware corporation (the “Corporation”), and
                                        
(the “Participant”) evidences the stock option (the “Option”) granted by the Corporation to the Participant as to the number of shares of the Corporation’s Common Stock, par value $0.001 per share, first set forth
below. 
  

							
	Number of Shares of Common 
Stock:1	 	  _________	  		  	Award Date:
                                        

				
	Exercise Price per 
Share:1	 	  $                	  		  	Expiration 
Date:1,2

                              
				
	Vesting Commencement Date:	 	  _______________	  		  	
				
	Type of Option (check one):	 	Nonqualified Stock Option	  	[        ]	  	
				
		 	Incentive Stock Option	  	[        ]	  	
	
	Vesting
1,2 The Option shall become vested as to 25% of the
total number of shares of Common Stock subject to the Option on the first anniversary of the Vesting Commencement Date. The remaining 75% of the total number of shares of Common Stock subject to the Option shall vest in 12 substantially equal
quarterly installments, with the first installment vesting on the last day of the third month following the month in which the first anniversary of the Vesting Commencement Date occurs and an additional installment vesting on the last day of each of
the 11 three-month periods thereafter.

 The Option is granted under the SafeNet, Inc. Stock
Incentive Plan (the “Plan”) and subject to the Terms and Conditions of Stock Option (the “Terms”) attached to this Option Agreement (incorporated herein by this reference) and to the Plan. The Option has been
granted to the Participant in addition to, and not in lieu of, any other form of compensation otherwise payable or to be paid to the Participant. Capitalized terms are defined in the Plan if not defined herein. The parties agree to the terms of the
Option set forth herein. The Participant acknowledges receipt of a copy of the Terms, the Plan and the Stock Option Questions & Answers for the Plan, specifically acknowledges and agrees to Section 9 of the Terms, and agrees to
maintain in confidence all information provided to him/her in connection with the Option. 
  

							
	“PARTICIPANT”	 		 	SAFENET, INC.,
		 		 	a Delaware corporation
	  
	 		 	
	Signature	 		 		 	
				
	  
	 		 	By:	 	  

	Print Name	 		 		 	
		 		 	Its:	 	  

				
	  
	 		 		 	
	Address	 		 		 	
				
	  
	 		 		 	
	City, State, Zip Code	 		 		 	

 CONSENT OF SPOUSE 

In consideration of the Corporation’s execution of this Option Agreement, the undersigned spouse of the Participant agrees to be
bound by all of the terms and provisions hereof and of the Plan. 
  

					
	  
	 		 	  

	Signature of Spouse	 		 	Date

  

	1
	 Subject to adjustment under Section 7.3.1 of the Plan. 

	2
	 Subject to early termination under Section 5.6 or 7.3 of the Plan. 

 TERMS AND CONDITIONS OF STOCK OPTION 

 

	1.	Vesting; Limits on Exercise. 

The Option shall vest and become exercisable in percentage installments of the aggregate number of shares subject to the Option as set
forth on the cover page of this Option Agreement. The Option may be exercised only to the extent the Option is vested and exercisable. 
  

	 	•	 	 Cumulative Exercisability. To the extent that the Option is vested and exercisable, the Participant has the right to exercise the Option (to the
extent not previously exercised), and such right shall continue, until the expiration or earlier termination of the Option. 

  

	 	•	 	 No Fractional Shares. Fractional share interests shall be disregarded, but may be cumulated. 

 

	 	•	 	 Minimum Exercise. No fewer than 100 shares of Common Stock (subject to adjustment under Section 7.3.1 of the Plan) may be purchased at any
one time, unless the number purchased is the total number at the time exercisable under the Option. 

  

	 	•	 	 ISO Value Limit. If the Option is designated as an Incentive Stock Option (an “ISO”), as indicated on the cover page of this
Option Agreement, and if the aggregate fair market value of the shares with respect to which ISOs (whether granted under the Option or otherwise) first become exercisable by the Participant in any calendar year exceeds $100,000, as measured on the
applicable Award Dates, the limitations of Section 5.5.1 of the Plan shall apply and to such extent the Option will be rendered a Nonqualified Stock Option. 

 

	2.	Continuance of Employment/Service Required; No Employment/Service Commitment. 

The vesting schedule requires continued employment or service through each applicable vesting date as a condition to the vesting of the
applicable installment of the Option and the rights and benefits under this Option Agreement Employment or service for only a portion of the vesting period, even if a substantial portion, will not entitle the Participant to any proportionate vesting
or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or services as provided in Section 4 below or under the Plan. 

Nothing contained in this Option Agreement or the Plan constitutes a continued employment or service commitment by the Corporation or any
of its Affiliates, affects the Participant’s status, if he or she is an employee, as an employee at will who is subject to termination without cause, confers upon the Participant any right to remain employed by or in service to the Corporation
or any Affiliate, interferes in any way with the right of the Corporation or any Affiliate at any time to terminate such employment or service, or affects the right of the Corporation or any Affiliate to increase or decrease the Participant’s
other compensation. 
  

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	3.	Exercise of Option. 

3.1. Method of Exercise and Settlement Prior to IPO. The Option shall be exercisable by the delivery to the Secretary of the
Corporation (or such other person as the Administrator may require pursuant to such administrative exercise procedures as the Administrator may implement from time to time) of: 

 

	 	•	 	 an executed Exercise Agreement (stating the number of shares of Common Stock to be purchased pursuant to the Option) in substantially the form attached
hereto as Exhibit A or such other form as the Administrator may require from time to time (the “Exercise Agreement”); 

  

	 	•	 	 any written statements or agreements required pursuant to Section 7.5.1 of the Plan; 

 

	 	•	 	 satisfaction of the tax withholding provisions of Section 7.6.1 of the Plan. 

Notwithstanding any other provision herein or in the Plan, unless the Administrator otherwise provides, the Corporation shall settle the
portion of the Option being exercised by making a cash payment to the Participant (the “Cash Payment”). The Cash Payment shall be made as soon as administratively practicable following the exercise of the Option (and in all events
no later than the last day of the calendar year in which the Option is exercised) and shall be equal to (subject to applicable tax withholding) the product obtained by multiplying (a) the amount (if any) by which the Fair Market Value of the
Common Stock at the time of exercise (as determined in accordance with the Plan) exceeds the Exercise Price of the shares subject to the Option by (b) the number of shares with respect to which the Option is being exercised. 

3.2. Method of Exercise After IPO. The Option shall be exercisable by the delivery to the Secretary of the Corporation (or such
other person as the Administrator may require pursuant to such administrative exercise procedures as the Administrator may implement from time to time) of: 
  

	 	•	 	 an executed Exercise Agreement (stating the number of shares of Common Stock to be purchased pursuant to the Option); 

 

	 	•	 	 payment in full for the Exercise Price of the shares to be purchased, in cash or by electronic funds transfer to the Corporation, or by certified or
cashier’s check payable to the order of the Corporation subject to such specific procedures or directions as the Administrator may establish; 

  

	 	•	 	 any written statements or agreements required pursuant to Section 7.5.1 of the Plan; and 

 

	 	•	 	 satisfaction of the tax withholding provisions of Section 7.6.1 of the Plan. 

The Administrator also may, but is not required to, authorize a non-cash payment alternative specified below at or prior to the time of exercise. In which
case, the Exercise Price and/or applicable withholding taxes, to the extent so authorized, may be paid in full or in part by delivery to the Corporation of: 
  

	 	•	 	 shares of Common Stock already owned by the Participant, valued at their Fair Market Value on the exercise date; and/or 

 

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	 	•	 	 if the Common Stock is then registered under the Exchange Act and listed or quoted on a recognized national securities exchange, irrevocable
instructions to a broker to, upon exercise of the Option, promptly sell a sufficient number of shares of Common Stock acquired upon exercise of the Option and deliver to the Corporation the amount necessary to pay the Exercise Price (and, if
applicable, the amount of any related tax withholding obligations); and/or 

  

	 	•	 	 a note meeting the requirements of Section 5.3.3 of the Plan (or, in the case of tax loans, Section 7.6.2 of the Plan).

 An Option will qualify as an ISO only if it meets all of the applicable requirements of the Code. If the Option is
designated as an ISO, the Option may be rendered a Nonqualified Stock Option if the Administrator permits the use of one or more of the non-cash payment alternatives referenced above. 

Notwithstanding any other provision herein or in the Plan, settlement of the Option in shares of Common Stock shall be subject to the Corporation’s
obtaining any necessary consents required under any senior credit facility or other financing arrangement of the Corporation. If any such required consents are not obtained, then, unless the Administrator otherwise provides, the Corporation shall
settle the portion of the Option being exercised by making Cash Payment. The Cash Payment shall be made as soon as administratively practicable following the exercise of the Option (and in all events no later than the last day of the calendar year
in which the Option is exercised) and shall be equal to (subject to applicable tax withholding) the product obtained by multiplying (a) the amount (if any) by which the Fair Market Value of the Common Stock at the time of exercise (as
determined in accordance with the Plan) exceeds the Exercise Price of the shares subject to the Option by (b) the number of shares with respect to which the Option is being exercised 

 

	4.	Early Termination of Option. 

The Option, to the extent not previously exercised, and all other rights in respect thereof, whether vested and exercisable or not, shall
terminate and become null and void prior to the Expiration Date in the event of: 
  

	 	•	 	 the termination of the Participant’s employment or services as provided in Section 5.6 of the Plan, or 

 

	 	•	 	 the termination of the Option pursuant to Section 7.3 of the Plan. 

Notwithstanding any post-termination exercise period provided for herein or in the Plan, an Option will qualify as an ISO only if it is
exercised within the applicable exercise periods for 
  

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ISOs under, and meets all of the other requirements of, the Code, If the Option is designated as an ISO and is not exercised within the applicable exercise periods for ISOs or does not meet such
other requirements, the Option will be rendered a Nonqualified Stock Option. 
  

	5.	Non-Transferability and Other Restrictions. 

The Option and any other rights of the Participant under this Option Agreement or the Plan are nontransferable and exercisable only by the
Participant, except as set forth in Section 7.2 of the Plan. 
  

	6.	Notices. 

 Any
notice to be given under the terms of this Option Agreement or the Exercise Agreement shall be in writing and addressed to the Corporation at its principal office to the attention of the Secretary, and to the Participant at the address reflected or
last reflected on the Corporation’s payroll records. Any notice shall be delivered in person or shall be enclosed in a properly sealed envelope, addressed as aforesaid, registered or certified, and deposited (postage and registry or
certification fee prepaid) in a post office or branch post office regularly maintained by the United States Government. Any such notice shall be given only when received, but if the Participant is no longer an Eligible Person, shall be deemed to
have been duly given five business days after the date mailed in accordance with the foregoing provisions of this Section 6. 
  

	7.	Plan. 

 The Option
and all rights of the Participant under this Option Agreement are subject to the terms and conditions of the Plan, incorporated herein by this reference. The Participant agrees to be bound by the terms of the Plan and this Option Agreement
(including these Terms). The Participant acknowledges having read and understood the Plan, the Stock Option Questions & Answers for the Plan, and this Option Agreement. Unless otherwise expressly provided in other sections of this Option
Agreement, provisions of the Plan that confer discretionary authority on the Board or the Administrator do not and shall not be deemed to create any rights in the Participant unless such rights are expressly set forth herein or are otherwise in the
sole discretion of the Board or the Administrator so conferred by appropriate action of the Board or the Administrator under the Plan after the date hereof. 
  

	8.	Entire Agreement. 

This Option Agreement (including these Terms and together with the form of Exercise Agreement attached hereto) and the Plan together
constitute the entire agreement and supersede all prior understandings and agreements, written or oral, of the parties hereto with respect to the subject matter hereof. The Plan, this Option Agreement and the Exercise Agreement may be amended
pursuant to Section 7.7 of the Plan. Such amendment must be in writing and signed by the Corporation. The Corporation may, however, unilaterally waive any provision hereof or of the Exercise Agreement in writing to the extent such waiver does
not adversely affect the interests of the Participant hereunder, but no such waiver shall operate as or be construed to be a subsequent waiver of the same provision or a waiver of any other provision hereof. 

 

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	9.	Satisfaction of All Rights to Equity. 

The Option is in complete satisfaction of any and all rights that the Participant may have (under an employment, consulting, or other
written or oral agreement with the Corporation or any of its Affiliates, or otherwise) to receive (1) stock options or stock awards with respect to the securities of the Corporation or any of its Affiliates, and/or (2) any other equity or
derivative security in or with respect to the Corporation or any of its Affiliates. This Option Agreement supersedes the terms of all prior understandings and agreements, written or oral, of the parties with respect to such matters. The Participant
shall have no further rights or benefits under any prior agreement conveying any right with respect to any security or derivative security in or with respect to the Corporation or any of its Affiliates. The foregoing notwithstanding, this
Section 9 shall not adversely affect the Participant’s rights under any prior stock option or stock award agreement under the Plan (provided such agreement is expressly labeled as a stock option or stock award agreement under the Plan and
is similar in form to this Option Agreement) which has been signed by an authorized officer of the Corporation. 
  

	10.	Governing Law; Limited Rights; Severability. 

10.1. Delaware Law; Construction. This Option Agreement and the Exercise Agreement shall be governed by and construed and enforced
in accordance with the laws of the State of Delaware without regard to conflict of law principles thereunder. The terms of the Option grant have resulted from the negotiations of the parties and each of the parties has had an opportunity to obtain
and consult with its own counsel. The language of all parts of the Plan, this Option Agreement (including these Terms) and the Exercise Agreement shall in all cases be construed as a whole, according to its fair meaning, and not strictly for or
against either of the parties. 
 10.2. Limited Rights. The Participant has no rights as a stockholder of the Corporation
with respect to the Option as set forth in Section 7.8 of the Plan. The Option does not place any limit on the corporate authority of the Corporation as set forth in Section 7.15 of the Plan. 

10.3. Arbitration. Any controversy arising out of or relating to this Option Agreement (including these Terms), the Plan, and/or
the Exercise Agreement, their enforcement or interpretation, or because of an alleged breach, default, or misrepresentation in connection with any of their provisions, or any other controversy arising out of or related to the Option, including, but
not limited to, any state or federal statutory claims, shall be submitted to arbitration in Harford County, Maryland, before a sole arbitrator selected from Judicial Arbitration and Mediation Services, Inc., or its successor
(“JAMS”), or if JAMS is no longer able to supply the arbitrator, such arbitrator shall be selected from the American Arbitration Association, and shall be conducted in accordance with the provisions of applicable law as the
exclusive forum for the resolution of such dispute; provided, however, that provisional injunctive relief may, but need not, be sought by either party to this Option Agreement in a court of law while arbitration proceedings are pending, and any
provisional injunctive relief granted by such court shall remain effective until the matter is finally determined by the arbitrator. Final 

 

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resolution of any dispute through arbitration may include any remedy or relief which the arbitrator deems just and equitable, including any and all remedies provided by applicable state or
federal statutes. At the conclusion of the arbitration, the arbitrator shall issue a written decision that sets forth the essential findings and conclusions upon which the arbitrator’s award or decision is based. Any award or relief granted by
the arbitrator hereunder shall be final and binding on the parties hereto and may be enforced by any court of competent jurisdiction. The parties acknowledge and agree that they are hereby waiving any rights to trial by jury in any action,
proceeding or counterclaim brought by either of the parties against the other in connection with any matter whatsoever arising out of or in any way connected with any of the matters referenced in the first sentence above. The parties agree that
Corporation shall be responsible for payment of the forum costs of any arbitration hereunder, including the arbitrator’s fee. The parties further agree that in any proceeding with respect to such matters, each party shall bear its own
attorney’s fees and costs (other than forum costs associated with the arbitration) incurred by it or him or her in connection with the resolution of the dispute. 

10.4. Severability. If the arbitrator selected in accordance with Section 10.3 or a court of competent jurisdiction
determines that any portion of this Option Agreement, the Plan, or the Exercise Agreement is in violation of any statute or public policy, then only the portions of this Option Agreement, the Plan, or the Exercise Agreement, as applicable, which
violate such statute or public policy shall be stricken, and all portions of this Option Agreement, the Plan, and the Exercise Agreement which do not violate any statute or public policy shall continue in full force and effect. Furthermore, it is
the parties’ intent that any court order striking any portion of this Option Agreement, the Plan, and/or the Exercise Agreement should modify the stricken terms as narrowly as possible to give as much effect as possible to the intentions of the
parties hereunder. 
 10.5. Stockholder Approval. Notwithstanding anything else contained herein to the contrary, the
Option and all rights of the Participant under this Option Agreement are subject to approval of the Plan by the Corporation’s stockholders (such approval to be obtained in accordance with the terms of the Plan, the Corporation’s Bylaws,
and applicable law) within 12 months after the Effective Date of the Plan. 
 (Remainder of Page Intentionally Left Blank)

  

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 EXHIBIT A 

SAFENET, INC. 

STOCK INCENTIVE PLAN 

OPTION EXERCISE AGREEMENT 

The undersigned (the “Purchaser”) hereby irrevocably elects to exercise his/her right, evidenced by that certain Stock
Option Agreement dated as of                              (the “Option Agreement”)
under the SafeNet, Inc. Stock Incentive Plan (the “Plan”), as follows: 
  

	 	•	 	 the Purchaser hereby irrevocably elects to exercise the Option with respect to
                             shares of Common Stock, par value $0.001 per share (the
“Shares”), of SafeNet, Inc., a Delaware corporation (the “Corporation”), and 

  

	 	•	 	 [such exercise shall be at the price of
$                             per share, for an aggregate amount of
$                             (subject to applicable withholding taxes pursuant to Section 7.6.1
of the Plan).] [Include if exercise is after IPO] 

 Capitalized terms are defined in the Plan
if not defined herein. 
 1. Settlement of Option. If the Option is being exercised prior to the Public Offering Date,
the Option shall be settled in cash as provided in Section 3.1 of the Option Agreement, no Shares shall be issued to the Purchaser with respect to such exercise, and Sections 2, 3 and 6 of this Exercise Agreement shall not apply. If the Option
is being exercised on or after the Public Offering Date, the Purchaser requests that a certificate representing the Shares be registered to Purchaser and delivered to: 
  

			
	  

	  
	 	.

 2. Limitation on Disposition and Other
Restrictions. The Shares are subject to and the Purchaser hereby agrees to the following terms and conditions of the sale of the Shares to the Purchaser: 
  

	 	•	 	 any transfer of the Shares must comply with the restrictions on transfer set forth in Section 7.2 of the Plan and all applicable laws as set forth
in Section 7.5 of the Plan; and 

  

	 	•	 	 as a condition to any otherwise permitted transfer of the Shares, the Corporation may require the transferee to execute a written agreement, in a form
acceptable to the Administrator, that the transferee acknowledges and agrees to the foregoing terms and restrictions imposed on the Shares. 

4. Plan and Option Agreement. The Purchaser acknowledges that all of his/her rights are subject to, and the Purchaser agrees to be
bound by, all of the terms and conditions of the Plan and the Option Agreement (including the Terms), both of which are incorporated herein 

 

 1 

 
by this reference. If a conflict or inconsistency between the terms and conditions of this Exercise Agreement and of the Plan or the Option Agreement shall arise, the terms and conditions of the
Plan and/or the Option Agreement shall govern. The Purchaser acknowledges receipt of a copy of all documents referenced herein (including the Terms and the Stock Option Questions & Answers for the Plan) and acknowledges reading and
understanding these documents and having an opportunity to ask any questions that he/she may have had about them. Any controversy or claim arising out of or relating to this Exercise Agreement shall be submitted to arbitration in accordance with
Section 10.3 of the Terms, and Delaware law shall apply as provided in Section 10.1 of the Terms. 
 5. Entire
Agreement. This Exercise Agreement, the Option Agreement (including the Terms), and the Plan together constitute the entire agreement and supersede all prior understandings and agreements, written or oral, of the parties hereto with respect to
the subject matter hereof. The Plan, the Option Agreement and this Exercise Agreement may be amended pursuant to Section 7.7 of the Plan. Such amendment must be in writing and signed by the Corporation. The Corporation may, however,
unilaterally waive any provision hereof or of the Option Agreement in writing to the extent such waiver does not adversely affect the interests of the Purchaser hereunder, but no such waiver shall operate as or be construed to be a subsequent waiver
of the same provision or a waiver of any other provision hereof. 
 6. Notice of Sale of ISO Shares. If the Shares are
being acquired upon exercise of an Option intended to qualify as an Incentive Stock Option, the Purchaser agrees that, upon any sale or other transfer of the Shares within either one year of the date that they are acquired by the Purchaser or two
years after the Award Date set forth in the Option Agreement, the Purchaser shall provide the notice required under Section 5.5.3 of the Plan. 
  

							
	“PURCHASER”	 		 	 ACCEPTED BY:

SAFENET, INC.,

	  
	 		 	a Delaware corporation
	Signature	 		 		  	
				
	  
	 		 	By:	  	  

	Print Name	 		 	Its:	  	  

			
	  
	 		 	(To be completed by the corporation after the price (including applicable withholding taxes), value (if applicable) and receipt of funds is verified.)

	Date	 		 

  

 2Exhibit 10.8

 Exhibit 10.8 

VECTOR STEALTH HOLDINGS II, L.L.C. 

AMENDED AND RESTATED 2007 EQUITY PLAN 

This Amended and Restated 2007 Equity Plan of Vector Stealth Holdings II, L.L.C. is adopted as of the 18th day of February 2010, by and
among the Board and a Majority in Interest of the Class A Members: 
 WHEREAS, the 2007 Equity Plan was adopted
December 31, 2007 and amended on April 2, 2008; and 
 WHEREAS, the Board and a Majority in Interest of the
Class A Members desire to amend and restate the 2007 Equity Plan. 
 NOW, THEREFORE, the Board and a Majority in Interest
of the Class A Members hereby agree as follows: 
 SECTION 1. ESTABLISHMENT AND PURPOSE. 

The purpose of the Plan is to offer selected persons a proprietary interest in the success of the Company, or to increase such interest,
by the grant of Class C Units. Class C Units may be granted as “profits interests” for United States federal income tax purposes. In the event any term or provision of this Plan conflicts with the Operating Agreement, the terms and
provisions of the Operating Agreement shall govern. 
 Capitalized terms are defined in Section 13. 

SECTION 2. ADMINISTRATION. 

The Plan will be administered by the Board, which, subject to the provisions of the Operating Agreement, shall have full authority and
discretion to take any actions they deem necessary or advisable for the administration of the Plan. All decisions, interpretations and other actions of the Board shall be final and binding on all Participants. 

SECTION 3. ELIGIBILITY 

Only Employees, Directors, Officers and Consultants (the “Participants”) shall be eligible for the grant of Class C Units.

 SECTION 4. CLASS C UNITS SUBJECT TO PLAN. 

(a) Basic Limitation. Not more than 47,796,497 Class C Units may be issued under the Plan (subject to Subsection (b) below
and Section 8), subject to adjustment as 

 
described in Section 3.3(a) of the Operating Agreement. The Company, during the term of the Plan, shall at all times reserve and keep available sufficient Class C Units to satisfy the
requirements of the Plan. 
 (b) Additional Class C Units. In the event that Class C Units issued under the Plan are
reacquired by the Company, such Class C Units shall be added to the number of Class C Units then available for issuance under the Plan. 

SECTION 5. TERMS AND CONDITIONS OF GRANTS OF CLASS C UNITS. 

(a) Class C Unit Grant Agreement. Each grant of a Class C Unit under the Plan shall be evidenced by a Class C Unit Grant Agreement
between the Participant and the Company. Such Class C Unit shall be subject to all applicable terms and conditions of the Plan and may be subject to any other terms and conditions which are not inconsistent with the Plan and which the Board deems
appropriate for inclusion in a Class C Unit Grant Agreement. The provisions of the various Class C Unit Grant Agreements entered into under the Plan need not be identical. 

(b) Number of Class C Units. Each Class C Unit Grant Agreement shall specify the number of Class C Units that are being granted
and shall provide for the adjustment of such number in accordance with Section 8. 
 (c) Vesting. Each Class C Unit
Grant Agreement shall specify the date or milestone(s) when all or any installment of Class C Units is to become vested. No Class C Unit shall be granted unless the Participant has delivered an executed copy of the Class C Unit Grant Agreement to
the Company. The Board shall determine the vesting provisions of any Class C Unit Grant Agreement at their sole discretion. All of a Participant’s Class C Units shall become fully vested if Section 8(b)(iii) applies. 

(d) Restrictions on Transfer of Class C Units. Any Class C Units granted under the Plan shall be subject to (i) the terms of
the Operating Agreement and any other agreement among the Members and (ii) such special forfeiture conditions, rights of repurchase, rights of first refusal and other transfer restrictions as the Board may determine. Such restrictions shall be
set forth in the applicable Class C Unit Grant Agreement and shall apply in addition to the restrictions that apply to holders of Class C Units generally. 

(e) Non-vested Class C Units. If a Participant’s Service is terminated by the Participant or by the Portfolio Company for
any reason before all of the Class C Units have vested, unless otherwise determined by the Board or unless otherwise provided in the Participant’s Class C Unit Grant Agreement, (i) the Participant will forfeit all non-vested Class C Units
issued with an initial Capital Account of $0 to the Company for no consideration without further action by the Company and (ii) the Company shall have the right to repurchase at the lower of the original Purchase Price paid therefor or the Fair
Market Value of all or any portion of the Participant’s non-vested Class C Units, which right may be exercised at any time and from time to time within ninety (90) days after the date of such termination. 

 

 2 

 (f) Vested Class C Units. Unless otherwise provided in the Participant’s Class
C Unit Grant Agreement, if a Participant’s Service is terminated by the Participant or by the Portfolio Company for any reason, the Company shall have the right to repurchase all or any portion of the Participant’s vested Class C Units at
their Fair Market Value, which right may be exercised at any time and from time to time within ninety (90) days after the date of such termination. 

(g) Withholding Taxes. As a condition to a grant of, and distributions with respect to, any Class C Unit, the Participant shall
make such arrangements as the Board may require for the satisfaction of any federal, state, local or foreign withholding tax obligations that may arise in connection with such grant or distributions. The Participant shall also make such arrangements
as the Board may require for the satisfaction of any federal, state, local or foreign withholding tax obligations that may arise in connection with the disposition of Class C Units. 

(h) No Rights as a Member or Assignee. A Participant, or a transferee of a Participant, shall have no rights as a Member or
Assignee with respect to any Class C Unit until such person has satisfied any requirements imposed on Members or Assignees by applicable law, the Operating Agreement, any other agreement among the Members or the Company. 

(i) Modification and Assumption of Class C Units. Within the limitations of the Plan, the Board may modify or assume outstanding
Class C Units (whether granted by the Company or another issuer) in return for the grant of the same or a different number of new Class C Units. 

(j) Capital Accounts of Class C Unit. A Class C Unit Grant Agreement shall provide the initial Capital Account with respect to
Units granted under such agreement. 
 (i) Class C Unit Issued as a “Profit Interest”. Upon the
issuance of any Class C Unit with an initial Capital Account of $0, the Board may determine the Liquidation Value of the Company and the unrecognized gain or loss may be allocated to the Members accordance with Paragraph 4.2(a)(ii) of the Operating
Agreement immediately prior to the date of grant of such Class C Unit. Accordingly, by way of illustration, if a Liquidation Event were to occur immediately after the issuance of a Class C Unit with an initial Capital Account of SO, such holder
would receive no proceeds under Paragraph 8.1 of the Operating Agreement from the Liquidation Event. A Class C Unit with an initial Capital Account of $0 is intended to, but may not necessarily, meet the definition of a “profits interest”
in I.R.S. Revenue Procedures 93 -27 and 2001-43. 
 (ii) Purchase of a Class C Unit. Upon the purchase of
a Class C Unit by a Participant, the Board may determine the Fair Market Value of such Class C Unit using the Liquidation Value of the Company and the Purchase Price shall equal such Fair Market Value. The initial Capital Account of such Class C
Unit shall equal such Purchase Price. Liquidation Value of the Company and the unrecognized gain or loss may be allocated to the Members in accordance with Paragraph 4.2(a)(ii) of the Operating Agreement immediately prior to the date of

  

 3 

 
purchase of such Class C Unit. Accordingly, by way of illustration, if a Liquidation Event were to occur immediately after the purchase of a Class C Unit with a Fair Market Value Purchase Price,
such holder would receive an amount equal to the Purchase Price under Paragraph 8.1 of the Operating Agreement from the Liquidation Event. 

SECTION 6. PAYMENT FOR CLASS C UNITS. 

(a) General Rule. The entire Purchase Price of Class C Units issued under the Plan shall be payable in cash or cash equivalents at
the time when such Class C Units are purchased, except as otherwise provided in this Section 6. 
 (b) Profits
Interests. Class C Units issued with an initial Capital Account of $0 shall have no Purchase Price and the Participant shall not be required to pay any consideration for the grant of such Units. 

(c) Services Rendered. At the discretion of the Board, Class C Units may be awarded under the Plan in consideration of services
rendered to the Portfolio Company or a Subsidiary prior to the award. 
 (d) Other Forms of Payment. To the extent that
a Class C Unit Grant Agreement so provides and subject to the approval of the Board, the Purchase Price of Units issued under the Plan may be paid in any other form permitted by the Delaware General Corporation Law, as amended. 

SECTION 7. OBLIGATIONS OF PARTICIPANTS. 

(a) Operating Agreement. Each Participant granted Class C Units shall agree to be bound by and comply with the terms of the
Operating Agreement. Schedule A of the Operating Agreement shall be amended to reflect the grant of Class C Units to a Participant under this Plan. 

(b) IRS Form W-9. Each Participant shall deliver to the Company a duly completed and properly executed IRS Form W-9 at the time
of a grant of a Class C Unit. 
 (c) Safe Harbor Election. Each Participant shall agree that the Managing Member is
authorized to elect the safe harbor described in section 4 of the proposed IRS Revenue Procedure published in IRS Notice 2005-43 (the “Proposed Revenue Procedure”) (or any substantially similar safe harbor provided for in other IRS
guidance), if and when such Revenue Procedure (or other IRS guidance) is finalized (the “Safe Harbor”). Each Participant (including any transferee of a Participant) shall agree to comply with all requirements of the Safe Harbor while such
election remains in effect, including making tax filings (if any) consistent with the applicable requirements of such Safe Harbor and any relevant Treasury Regulations. In addition, the Participants shall agree to amend the Operating Agreement as
and if required by the finalized Revenue Procedure (or substantially similar other IRS guidance) in order to ensure that the transfer of a Class C Unit in connection with the provision of Services to, or on behalf of, the Portfolio Company is
eligible for the benefits of the Safe Harbor. 
  

 4 

 (d) Repurchased or Forfeited Class C Units. Any Class C Units acquired by, or
forfeited to, the Company shall be free and clear of all Encumbrances. The Company shall have the right to assign its right to purchase Class C Units to another person. The closing of such purchase and sale shall take place on a date designated by
the Company, which shall not be more than ninety (90) days following the date of notification to the Participant. The Company shall pay the purchase price, if any, for any Class C Units in immediately available funds. Upon tender of payment of
such purchase price, if any, thereupon and without any further action on the part of any person being necessary, all right, title and interest in and to the Class C Units being purchased shall thereupon pass to the Company or its assignee. Without
limitation of the foregoing, the parties and their transferees shall execute and deliver such certificates and other documents and take such further action as the Company or its assignee may reasonable request in order to further evidence the
purchase and sale of the Class C Unit as contemplated hereby. 
 (e) Sale Obligations. Except to the extent the
following would violate California Corporations Code Section 25102(o) with respect to such Participant, each Participant shall covenant and agree to do the following: (i) consent to, vote in favor of, and raise no objections against a
Liquidation Event of the Company approved by the Managing Member, and if such Liquidation Event of the Company is structured as a sale of outstanding capital securities of the Company, to sell the Class C Units and all other capital securities of
the Company held by the Participant on the terms and conditions approved by the Managing Member; (ii) take all actions requested by the Managing Member that are necessary or desirable in connection with the consummation of a Liquidation Event
of the Company, including, without limitation, waiving of all dissenting or appraisal rights available to the Participant under applicable laws; (iii) bear the Participant’s pro rata share (based upon the number of Class C Units held by
the Participant on a fully diluted basis) of the cost of any sale of capital securities of the Company in a Liquidation Event transaction of the Company to the extent such costs are incurred for the benefit of all members of the Company. 

SECTION 8. ADJUSTMENT OF CLASS C UNITS. 

(a) General. In the event of a subdivision of the outstanding Class C Units, a combination or consolidation of the outstanding
Class C Units into a lesser number of Class C Units, a reclassification or a similar occurrence, corresponding adjustments shall automatically be made in each of (i) the number and kind of Class C Units available for future grants under
Section 4 and (ii) the number and kind of Class C Units outstanding, in each case subject to the Operating Agreement. In the event of a recapitalization, a spin-off, or a similar occurrence, the Board at its sole discretion may make
appropriate adjustments in the number of Units available for future grants under Section 4. In the event of any of the foregoing transactions, any adjustments required by California Corporations Code Section 25102(o) shall be made.

 (b) Mergers, Acquisitions; Initial Public Offering. In the event that the Company is subject to a Liquidation Event
or undergoes a Conversion or the Portfolio Company undergoes an initial public offering (“IPO”), the outstanding Class C Units shall be subject to the 

 

 5 

 
agreement governing the Liquidation Event, Conversion or IPO and the Operating Agreement, which need not treat all Class C Units in an identical manner (provided that such Class C Units shall be
treated equitably). The agreement governing the Liquidation Event, Conversion or IPO shall provide for one or more of the following: 

(i) The continuation of such outstanding Class C Units by the Company (if the Company is the surviving corporation).

 (ii) The conversion of such outstanding Class C Units by the surviving entity or its parent into equity of
the surviving entity or its parent, with the exchange ratio of any Class C Units adjusted for (i) any Class C Units that have differing Capital Accounts appropriately adjusted to reflect the value of such differences and (ii) any
contribution to the Company by a Participant of an amount equal to what the Purchase Price of the Class C Units would have been if such Participant had purchased the Class C Units for their Fair Market Value on their date of grant instead of
acquiring such Class C Units with an initial Capital Account of $0. 
 (iii) The full or partial vesting of
unvested Class C Units upon on the closing of the transaction. 
 (iv) The redemption of such outstanding Class
C Units and a payment to the Participants equal to the amount distributable to such Class C Units pursuant to the Operating Agreement. Such payment shall be made in the form of cash, cash equivalents, or securities of the surviving entity or its
parent with a fair market value equal to the amount distributable or deemed distributable in the Liquidation Event. Such payment may be made in installments and may be deferred until the date or dates when such Class C Units would have vested. Such
payment may be subject to vesting based on the Participant’s continuing Service, provided that the vesting schedule shall not be less favorable to the Participant than the schedule under which such Class C Units would have vested. If no amounts
would be distributable to such Class C Units, then such Class C Units may be cancelled without making a payment to the Participants. For purposes of this Subsection (iv), the fair market value of any security shall be determined without regard to
any vesting conditions that may apply to such security and shall be determined by the Board in its good faith. 
 (c)
Reservation of Rights. The grant of a Class C Units pursuant to the Plan shall not affect in any way the right or power of the Company to make adjustments, reclassifications, reorganizations or changes of its capital or business structure, to
merge, consolidate or exchange equity interests or to dissolve, liquidate, sell or transfer all or any part of its business or assets. 
  

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 SECTION 9. SECURITIES LAW REQUIREMENTS. 

Class C Units shall not be issued under the Plan unless the issuance and delivery of such Class C Units comply with (or are exempt from)
all applicable requirements of law, including (without limitation) the Securities Act of 1933, as amended, the rules and regulations promulgated thereunder, state securities laws and regulations, and the regulations of any stock exchange or other
securities market on which the Company’s securities may then be traded. 
 SECTION 10. NO RETENTION RIGHTS. 

Nothing in the Plan or in any Class C Unit Grant Agreement shall confer upon the Participant any right to continue in Service for any
period of specific duration or interfere with or otherwise restrict in any way the rights of the Portfolio Company (or any Subsidiary employing or retaining the Participant) or of the Participant, which rights are hereby expressly reserved by each,
to terminate his or her Service at any time and for any reason, with or without cause. 
 SECTION 11. DURATION AND AMENDMENTS.

 (a) Term of the Plan. The Plan, as set forth herein, shall become effective upon the adoption and approval of the
Managing Member and a Majority in Interest of the Class A Members. If a Majority in Interest of the Class A Members fail to approve the Plan within 12 months after its adoption by the Managing Member, then any grants or sales that have
already occurred under the Plan shall be rescinded and no additional grants or sales shall thereafter be made. The Plan shall terminate automatically ten (10) years after the later of (i) its approval by the Managing Member and a Majority
in Interest of the Class A Members or (ii) the most recent increase in the number of Class C Units reserved under Section 4 that was approved by a Majority in Interest of the Class A Members. The Plan may be terminated on any
earlier date pursuant to Subsection (b) below. 
 (b) Right to Amend or Terminate the Plan. The Board may amend,
suspend or terminate the Plan at any time and for any reason, provided that the Board may only amend the Plan to increase the number of Class C Units available for issuance under the Plan only with the consent of a Majority in Interest of the
Class A Members. If a Majority in Interest of the Class A Members fail to approve an increase in the number of Class C Units reserved under Section 4 within twelve (12) months after its adoption by the Board, then any grants that
have already occurred in reliance on such increase shall be rescinded and no additional grants shall thereafter be made in reliance on such increase. 

(c) Effect of Amendment or Termination. No Class C Units shall be issued or sold under the Plan after the termination thereof.
The termination of the Plan, or any amendment thereof, shall not affect any Class C Unit previously granted under the Plan. 
  

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 SECTION 12. DISTRIBUTIONS. 

(a) Tax Distributions. The Company shall make tax distributions to the Participants in accordance with the terms of the Operating
Agreement. 
 (b) Other Distributions. If, before a Participant’s Class C Units are fully vested, the
Participant’s Services are terminated by the Participant or by the Portfolio Company for any reason, any subsequent distributions (including, but not limited to, tax payment distributions) will be reduced such that, on a cumulative basis, the
Participant will have received such amount of distributions as the Participant would have received had at all times the Participant held only his or her vested Class C Units, and no other Class C Units. If subsequent distributions would not be
adequate to reduce overall distributions in accordance with the Participant’s vested Class C Units, then at the Company’s request the Participant shall be required to promptly return distributions received by the Participant that exceed
cumulative distributions with respect to his or her vested Class C Units. 
 SECTION 13. DEFINITIONS. 

Capitalized terms used in this Plan without definition shall have the meanings given to them in the Operating Agreement. As used in this
Plan: 
 (a) “Assignee” shall mean a transferee of a Class C Unit who has not been admitted as a Member, as
provided in the Operating Agreement. 
 (b) “Board” shall mean the Portfolio Company Board, provided that any
consent or determination of the Board shall require the consent of the director(s) representing the Vector Member. 
 (c)
“Class C Unit” shall have the meaning given such term in the Operating Agreement. 
 (d) “Class C Unit
Grant Agreement” shall mean the agreement between the Company and a Participant that contains the terms, conditions and restrictions pertaining to the Participant’s Class C Units. 

(e) “Code” shall mean the Internal Revenue Code of 1986, as amended. 

(f) “Company” shall mean Vector Stealth Holdings II, L.L.C., a Delaware limited liability company. 

(g) “Consultant” shall mean a person who performs bona fide services for the Portfolio Company, or a Subsidiary as a
consultant or advisor, excluding Employees, Officers and Directors. 
  

 8 

 (h) “Conversion” shall mean the conversion of the Company into a
corporation, including, without limitation, by merger or consolidation, the filing of a certificate of conversion, or becoming a directly or indirectly wholly-owned subsidiary of a corporation. 

(i) “Director” shall mean a person who serves as a Director of the Portfolio Company. 

(j) “Disability” shall mean that the Participant is unable to engage in any substantial gainful activity by reason of
any medically determinable physical or mental impairment. 
 (k) “Employee” shall mean any individual who is a
common-law employee of the Portfolio Company or a Subsidiary. 
 (1) “Encumbrances” shall mean all security
interests, title defects or objections, mortgages, liens, claims, charges, rights of others, pledges or other encumbrances of any nature whatsoever, including licenses, leases, chattel or other mortgages, collateral security arrangements, pledges,
title imperfections, defect or objection liens, security interests, conditional and installment sales agreements, easements, infringements, encroachments or restrictions, of any kind and other title or interest retention arrangements, reservations
or limitations of any nature. 
 (m) “Fair Market Value” shall mean the fair market value of a Class C Unit,
as reasonably determined by the Board in its good faith, using the liquidation value (the “Liquidation Value”) of such Class C Unit within the meaning of IRS Revenue Procedure 93-27. Such determination shall be conclusive and binding on
all persons. 
 (n) “IRS” shall mean the United States Internal Revenue Service. 

(o) “Liquidation Event” shall mean (A) the closing of the sale, transfer or other disposition of all or
substantially all of the Company’s or the Portfolio Company’s assets, (B) the consummation of the merger or consolidation of the Company or the Portfolio Company with or into another entity (unless such entity is an affiliate of the
Company or the Portfolio Company immediately prior to such merger or consolidation), (C) the closing of the transfer (whether by merger, consolidation or otherwise), in one transaction or a series of related transactions, to a person or group
of affiliated persons (other than an underwriter of this corporation’s securities), of the Company’s or the Portfolio Company’s securities if, after such closing, such person or group of affiliated persons would hold 50% or more of
the outstanding voting stock of the Company or the Portfolio Company, respectively (or the surviving or acquiring entity) or (D) a liquidation, dissolution or winding up of the Company or the Portfolio Company; provided, however,
that a transaction shall not constitute a Liquidation Event if its sole purpose is to change the state of the Company’s or the Portfolio Company’s incorporation or to create a holding company that will be owned in substantially the same
proportions by the persons who held the Company’s or the Portfolio Company’s securities immediately prior to such transaction. 
  

 9 

 (p) “Liquidation Value” shall have the meaning given to such term in
Paragraph 3.3(c) of the Operating Agreement. 
 (q) “Managing Member” shall mean the Managing Member of the
Company as defined in the Operating Agreement. 
 (r) “Member” shall mean a person who is a Member of the
Company pursuant to the Operating Agreement. 
 (s) “Officer” shall mean any individual who is an officer of
the Portfolio Company or a Subsidiary. 
 (t) “Operating Agreement” shall mean the Vector Stealth Holdings II,
L.L.C. Third Amended and Restated Operating Agreement dated as of March 20, 2009, as amended from time to time, or any successor agreement. 

(u) “Participant” shall have the meaning specified in Section 3. 

(v) “Plan” shall mean this Vector Stealth Holdings H, L.L.C. 2007 Equity 

Plan. 
 (w)
“Portfolio Company” shall mean SafeNet, Inc. 
 (x) “Purchase Price” shall mean the
consideration for which one Class C Unit may be acquired under the Plan, as specified by the Board. 
 (y)
“Service” shall mean service as an Employee, Officer, Director or Consultant of the Portfolio Company or a Subsidiary. 

(z) “Subsidiary” means any entity (other than the Portfolio Company) in an unbroken chain of entities beginning with
the Portfolio Company, if each of the entities other than the last entity in the unbroken chain owns shares, units or interests possessing 50% or more of the total combined voting power of all classes of shares, units or interests in one of the
other entities in such chain. An entity that attains the status of a Subsidiary on a date after the adoption of the Plan shall be considered a Subsidiary commencing as of such date. 

 

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