Document:

2004 Equity Incentive Plan

 Exhibit 10.3 
  
 SEVEN NETWORKS, INC. 
  
 2004 EQUITY INCENTIVE PLAN

  
 (AS ADOPTED
MARCH 12, 2004) 
  

 TABLE OF CONTENTS 
  

			
	 	  	Page

		
	 ARTICLE 1. INTRODUCTION
	  	1
		
	 ARTICLE 2. ADMINISTRATION
	  	1
		
	 2.1 Committee Composition
	  	1
		
	 2.2 Committee Responsibilities
	  	1
		
	 2.3 Committee for Non-Officer Grants
	  	2
		
	 ARTICLE 3. SHARES AVAILABLE FOR GRANTS
	  	2
		
	 3.1 Basic Limitation
	  	2
		
	 3.2 Annual Increase in Shares
	  	2
		
	 3.3 Shares Returned to Reserve
	  	2
		
	 3.4 Shares Subject to Substituted Options
	  	3
		
	 3.5 Dividend Equivalents
	  	3
		
	 ARTICLE 4. ELIGIBILITY
	  	3
		
	 4.1 Incentive Stock Options
	  	3
		
	 4.2 Other Grants
	  	3
		
	 ARTICLE 5. OPTIONS
	  	3
		
	 5.1 Stock Option Agreement
	  	3
		
	 5.2 Number of Shares
	  	3
		
	 5.3 Exercise Price
	  	4
		
	 5.4 Exercisability and Term
	  	4
		
	 5.5 Effect of Change in Control
	  	4
		
	 5.6 Modification or Assumption of Options
	  	4
		
	 5.7 Buyout Provisions
	  	4
		
	 ARTICLE 6. PAYMENT FOR OPTION SHARES
	  	4
		
	 6.1 General Rule
	  	4
		
	 6.2 Surrender of Stock
	  	5
		
	 6.3 Exercise/Sale
	  	5
		
	 6.4 Exercise/Pledge
	  	5
		
	 6.5 Promissory Note
	  	5
		
	 6.6 Other Forms of Payment
	  	5
		
	 ARTICLE 7. AUTOMATIC OPTION GRANTS TO OUTSIDE DIRECTORS
	  	5
		
	 7.1 Initial Grants
	  	5
		
	 7.2 Annual Grants
	  	5
		
	 7.3 Current Director Annual
	  	6
		
	 7.4 Accelerated Exercisability
	  	6
		
	 7.5 Exercise Price
	  	6
		
	 7.6 Term
	  	6

  

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	 7.7 Adjustments
	  	6
		
	 7.8 Affiliates of Outside Directors
	  	6
		
	 ARTICLE 8. STOCK APPRECIATION RIGHTS
	  	6
		
	 8.1 SAR Agreement
	  	6
		
	 8.2 Number of Shares
	  	7
		
	 8.3 Exercise Price
	  	7
		
	 8.4 Exercisability and Term
	  	7
		
	 8.5 Effect of Change in Control
	  	7
		
	 8.6 Exercise of SARs
	  	7
		
	 8.7 Modification or Assumption of SARs
	  	7
		
	 ARTICLE 9. RESTRICTED SHARES
	  	8
		
	 9.1 Restricted Stock Agreement
	  	8
		
	 9.2 Payment for Awards
	  	8
		
	 9.3 Vesting Conditions
	  	8
		
	 9.4 Voting and Dividend Rights
	  	8
		
	 ARTICLE 10. STOCK UNITS
	  	9
		
	 10.1 Stock Unit Agreement
	  	9
		
	 10.2 Payment for Awards
	  	9
		
	 10.3 Vesting Conditions
	  	9
		
	 10.4 Voting and Dividend Rights
	  	9
		
	 10.5 Form and Time of Settlement of Stock Units
	  	9
		
	 10.6 Death of Recipient
	  	10
		
	 10.7 Creditors’ Rights
	  	10
		
	 ARTICLE 11. PROTECTION AGAINST DILUTION
	  	10
		
	 11.1 Adjustments
	  	10
		
	 11.2 Dissolution or Liquidation
	  	11
		
	 11.3 Reorganizations
	  	11
		
	 ARTICLE 12. DEFERRAL OF AWARDS
	  	12
		
	 ARTICLE 13. AWARDS UNDER OTHER PLANS
	  	13
		
	 ARTICLE 14. PAYMENT OF DIRECTOR’S FEES IN SECURITIES
	  	13
		
	 14.1 Effective Date
	  	13
		
	 14.2 Elections to Receive NSOs, Restricted Shares or Stock Units
	  	13
		
	 14.3 Number and Terms of NSOs, Restricted Shares or Stock Units
	  	13
		
	 ARTICLE 15. LIMITATION ON RIGHTS
	  	13
		
	 15.1 Retention Rights
	  	13
		
	 15.2 Stockholders’ Rights
	  	14
		
	 15.3 Regulatory Requirements
	  	14
		
	 ARTICLE 16. WITHHOLDING TAXES
	  	14
		
	 16.1 General
	  	14

  

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	 16.2 Share Withholding
	  	14
		
	 ARTICLE 17. FUTURE OF THE PLAN
	  	14
		
	 17.1 Term of the Plan
	  	14
		
	 17.2 Amendment or Termination
	  	14
		
	 17.3 Stockholder Approval
	  	15
		
	 ARTICLE 18. DEFINITIONS
	  	15

  
  

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 SEVEN NETWORKS, INC. 
  
 2004 EQUITY INCENTIVE PLAN

  
 ARTICLE 1. INTRODUCTION. 
  
 The Plan was adopted by the Board on March 12, 2004 to be effective as of
the date of the IPO. The purpose of the Plan is to promote the long-term success of the Company and the creation of stockholder value by (a) encouraging Employees, Outside Directors and Consultants to focus on critical long-range objectives, (b)
encouraging the attraction and retention of Employees, Outside Directors and Consultants with exceptional qualifications and (c) linking Employees, Outside Directors and Consultants directly to stockholder interests through increased stock
ownership. The Plan seeks to achieve this purpose by providing for Awards in the form of Restricted Shares, Stock Units, Options (which may constitute incentive stock options or nonstatutory stock options) or stock appreciation rights. 

 
 The Plan shall be governed by, and construed in accordance with, the laws
of the State of Delaware (except their choice-of-law provisions). 
  
 ARTICLE 2. ADMINISTRATION. 
  
 2.1
Committee Composition. The Committee shall administer the Plan. The Committee shall consist exclusively of two or more directors of the Company, who shall be appointed by the Board. In addition, each member of the Committee shall meet the
following requirements: 
  
 (a) Any listing
standards prescribed by the principal securities market on which the Company’s equity securities are traded; 
  
 (b) Such requirements as the Internal Revenue Service may establish for outside directors acting under plans intended to qualify for
exemption under section 162(m)(4)(C) of the Code; 
  
 (c) Such requirements as the Securities and Exchange Commission may establish for administrators acting under plans intended to qualify for exemption under Rule 16b-3 (or its successor) under the Exchange Act; and 
  
 (d) Any other requirements imposed by applicable law,
regulations or rules. 
  
 2.2 Committee
Responsibilities. The Committee shall (a) select the Employees, Outside Directors and Consultants who are to receive Awards under the Plan, (b) determine the type, number, vesting requirements and other features and conditions of such Awards,
(c) interpret the Plan, (d) make all other decisions relating to the operation of the Plan 

 and (e) carry out any other duties delegated to it by the Board. The Committee may adopt such rules or guidelines as it
deems appropriate to implement the Plan. The Committee’s determinations under the Plan shall be final and binding on all persons. 
  
 2.3 Committee for Non-Officer Grants. The Board may also appoint a secondary committee of the Board, which shall be composed of one or more
directors of the Company who need not satisfy the requirements of Section 2.1. Such secondary committee may administer the Plan with respect to Employees and Consultants who are not Outside Directors and are not considered executive officers of the
Company under section 16 of the Exchange Act, may grant Awards under the Plan to such Employees and Consultants and may determine all features and conditions of such Awards. Within the limitations of this Section 2.3, any reference in the Plan to
the Committee shall include such secondary committee. 
  
 2.4
Committee Responsibilities in Foreign Jurisdictions. The Committee may adopt rules and procedures relating to the operation and administration of the Plan to accommodate the specific requirements of local laws and procedures. Without
limiting the generality of the foregoing, the Committee is specifically authorized (A) to adopt the rules and procedures regarding the conversion of local currency, withholding procedures and handling of stock certificates which vary with local
requirements, and (B) to adopt sub-plans and Plan addenda as the Committee deems desirable, to accommodate foreign tax laws, regulations and practice. 
  
 ARTICLE 3. SHARES AVAILABLE FOR GRANTS. 
  
 3.1 Basic Limitation. Shares of Stock issued pursuant to the Plan may be authorized but unissued shares or treasury shares. The aggregate
number of shares of Stock issued under the Plan shall not exceed (a) 2,000,000 plus the number of shares remaining available for issuance under the 2000 Stock Plan as of the effectiveness of the IPO and (b) the additional shares of Stock described
in Sections 3.2, 3.3 and 3.4. The number of shares of Stock that are subject to Awards outstanding at any time under the Plan shall not exceed the number of shares of Stock that then remain available for issuance under the Plan. The limitations of
this Section 3.1 and Section 3.2 shall be subject to adjustment pursuant to Article 11. 
  
 3.2 Annual Increase in Shares. As of January 1 of each year, commencing in 2005, the aggregate number of shares of Stock that may be issued under the Plan shall automatically increase by a number equal
to the lesser of (a) 1.0% of the total number of shares of Stock then outstanding or (b) 1,000,000 shares of Stock. 
  
 3.3 Shares Returned to Reserve. If Restricted Shares or shares of Stock issued upon the exercise of Options under this Plan or the 2000
Stock Plan are forfeited or repurchased, then such shares of Stock shall again become available for Awards under this Plan. If Stock Units, Options or SARs under this Plan or the 2000 Stock Plan are forfeited or terminate for any other reason before
being exercised or settled, then the corresponding shares of Stock shall again become available for Awards under this Plan. If Stock Units are settled, then only the number of shares of Stock (if any) actually issued in settlement of such Stock
Units shall reduce the number available under Section 3.1 and the balance shall again become available for Awards under the Plan. If SARs are exercised, then only the number of shares of Stock (if any) actually 
  

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 issued in settlement of such SARs shall reduce the number available under Section 3.1 and the balance shall again become
available for Awards under the Plan. 
  
 3.4 Shares
Subject to Substituted Options. The number of shares of Stock subject to Options granted by the Company shall not reduce the number of shares of Stock that may be issued under Section 3.1 if (a) the Company or a Subsidiary is a party to a
transaction with another corporation described in section 424(a) of the Code, (b) employees or independent contractors of such corporation hold options to purchase shares of such corporation’s stock that are cancelled as part of such
transaction and (c) the Company grants Options under the Plan to such employees or independent contractors to replace the cancelled options in accordance with section 424(a) of the Code (whether or not such Options are ISOs). 
  
 3.5 Dividend Equivalents. Any dividend equivalents paid or
credited under the Plan shall not be applied against the number of shares of Stock that may be issued under the Plan, whether or not such dividend equivalents are converted into Stock Units. 
  
 ARTICLE 4. ELIGIBILITY. 
  
 4.1 Incentive Stock Options. Only Employees who are common-law
employees of the Company, a Parent or a Subsidiary shall be eligible for the grant of ISOs. In addition, an Employee who owns more than 10% of the total combined voting power of all classes of outstanding stock of the Company or any of its Parents
or Subsidiaries shall not be eligible for the grant of an ISO unless the requirements set forth in section 422(c)(6) of the Code are satisfied. 
  
 4.2 Other Grants. Only Employees, Outside Directors and Consultants shall be eligible for the grant of Restricted Shares, Stock Units, NSOs
or SARs. 
  
 ARTICLE 5. OPTIONS. 
  
 5.1 Stock Option Agreement. Each grant of an Option under the
Plan shall be evidenced by a Stock Option Agreement between the Optionee and the Company. Such Option shall be subject to all applicable terms of the Plan and may be subject to any other terms that are not inconsistent with the Plan. The Stock
Option Agreement shall specify whether the Option is an ISO or an NSO. The provisions of the various Stock Option Agreements entered into under the Plan need not be identical. Options may be granted in consideration of a reduction in the
Optionee’s other compensation. A Stock Option Agreement may provide that a new Option will be granted automatically to the Optionee when he or she exercises a prior Option and pays the Exercise Price in the form described in Section 6.2.

  
 5.2 Number of Shares. Each Stock Option
Agreement shall specify the number of shares of Stock subject to the Option and shall provide for the adjustment of such number in accordance with Article 11. Options granted to any Optionee in a single fiscal year of the Company shall not cover
more than 500,000 shares of Stock, except that Options granted to a new Employee in the fiscal year of the Company in which his or her Service as an Employee first commences shall not cover more than 2,000,000 shares of Stock. The limitations set
forth in the preceding sentence shall be subject to adjustment in accordance with Article 11. 
  

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 5.3 Exercise Price. Each Stock Option Agreement shall specify the Exercise Price; provided
that the Exercise Price under an ISO shall in no event be less than 100% of the Fair Market Value of a share of Stock on the date of grant and the Exercise Price under an NSO shall in no event be less than 85% of the Fair Market Value of a share of
Stock on the date of grant. In the case of an NSO, a Stock Option Agreement may specify an Exercise Price that varies in accordance with a predetermined formula while the NSO is outstanding. 
  
 5.4 Exercisability and Term. Each Stock Option Agreement shall
specify the date or event when all or any installment of the Option is to become exercisable and vested. The Stock Option Agreement shall also specify the term of the Option; provided that the term of an ISO shall in no event exceed 10 years from
the date of grant. A Stock Option Agreement may provide for accelerated exercisability in the event of the Optionee’s death, disability or retirement or other events and may provide for expiration prior to the end of its term in the event of
the termination of the Optionee’s Service. Options may be awarded in combination with SARs, and such an Award may provide that the Options will not be exercisable unless the related SARs are forfeited. 
  
 5.5 Effect of Change in Control. The Committee may determine,
at the time of granting an Option or thereafter, that such Option shall become vested and exercisable as to all or part of the shares of Stock subject to such Option in the event that a Change in Control occurs with respect to the Company or in the
event that the Optionee is subject to an Involuntary Termination after a Change in Control. However, in the case of an ISO, the acceleration of exercisability shall not occur without the Optionee’s written consent. In addition, acceleration of
vesting and exercisability may be required under Section 11.3. 
  
 5.6 Modification or Assumption of Options. Within the limitations of the Plan, the Committee may modify, reprice, extend or assume outstanding options or may accept the cancellation of outstanding options (whether granted by
the Company or by another issuer) in return for the grant of new options for the same or a different number of shares and at the same or a different exercise price. The foregoing notwithstanding, no modification of an Option shall, without the
consent of the Optionee, alter or impair his or her rights or obligations under such Option. 
  
 5.7 Buyout Provisions. The Committee may at any time (a) offer to buy out for a payment in cash or cash equivalents an Option previously granted or (b) authorize an Optionee to elect to cash out an
Option previously granted, in either case at such time and based upon such terms and conditions as the Committee shall establish. 
  
 ARTICLE 6. PAYMENT FOR OPTION SHARES. 
  
 6.1 General Rule. The entire Exercise Price of shares of Stock issued upon exercise of Options shall be payable in cash or cash equivalents
at the time when such shares of Stock are purchased, except that the Committee at its sole discretion may accept payment of the Exercise Price in any other form(s) described in this Article 6. However, if the Optionee is an Outside Director or
executive officer of the Company, he or she may pay the Exercise Price in a form other than cash or cash equivalents only to the extent permitted by section 13(k) of the Exchange Act. 
  

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 6.2 Surrender of Stock. With the Committee’s consent, all or any part of the Exercise
Price may be paid by surrendering, or attesting to the ownership of, shares of Stock that are already owned by the Optionee. Such shares of Stock shall be valued at their Fair Market Value on the date when the new shares of Stock are purchased under
the Plan. The Optionee shall not surrender, or attest to the ownership of, shares of Stock in payment of the Exercise Price if such action would cause the Company to recognize compensation expense (or additional compensation expense) with respect to
the Option for financial reporting purposes. 
  
 6.3
Exercise/Sale. With the Committee’s consent, all or any part of the Exercise Price and any withholding taxes may be paid by delivering (on a form prescribed by the Company) an irrevocable direction to a securities broker approved by
the Company to sell all or part of the shares of Stock being purchased under the Plan and to deliver all or part of the sales proceeds to the Company. 
  
 6.4 Exercise/Pledge. With the Committee’s consent, all or any part of the Exercise Price and any withholding taxes may be paid by
delivering (on a form prescribed by the Company) an irrevocable direction to pledge all or part of the shares of Stock being purchased under the Plan to a securities broker or lender approved by the Company, as security for a loan, and to deliver
all or part of the loan proceeds to the Company. 
  
 6.5
Promissory Note. With the Committee’s consent, all or any part of the Exercise Price and any withholding taxes may be paid by delivering (on a form prescribed by the Company) a full-recourse promissory note. However, the par value of
the shares of Stock being purchased under the Plan, if newly issued, shall be paid in cash or cash equivalents. 
  
 6.6 Other Forms of Payment. With the Committee’s consent, all or any part of the Exercise Price and any withholding taxes may be paid
in any other form that is consistent with applicable laws, regulations and rules. 
  
 ARTICLE 7. AUTOMATIC OPTION GRANTS TO OUTSIDE DIRECTORS. 
  
 7.1 Initial Grants. Each Outside Director who first becomes a member of the Board on or after the effective date of the IPO (each, a
“New Director”) shall receive a one-time grant of an NSO covering 25,000 shares of Stock. Such NSO shall be granted on the date when such Outside Director first joins the Board. Provided that each such Outside Director continues Service on
the Board, each such NSO shall become vested for 1/48 of the shares of Stock upon the Outside Director’s completion of each month of continuous Service from the date of grant. An Outside Director who previously was an Employee shall not receive
a grant under this Section 7.1. 
  
 7.2 New
Director Annual Grants. Starting in the calendar year following the year in which a New Director received the NSO described in Section 7.1, the same New Director shall receive an NSO covering 10,000 shares of Stock upon the conclusion of each
regular annual meeting of the Company’s stockholders, provided the New Director will continue serving as a member of the Board following each such annual meeting. Provided that each such Outside Director continues Service on the Board, NSOs
granted under this Section 7.2 shall become vested for 1/12th of the shares of Stock upon the New Director’s completion of each 
  

 5 

 month of continuous Service from the date of grant. An Outside Director who previously was an Employee shall be eligible
to receive grants under this Section 7.2 upon the conclusion of each regular annual meeting of the Company’s stockholders, starting in the calendar year following the year in which his or her employment termination occurs. 
  
 7.3 Current Director Annual Grants. Outside Directors who
joined the Board prior to the effective date of the IPO shall not receive an NSO under Section 7.1 and shall receive the annual grants described in Section 7.2 upon the conclusion of each regular annual meeting of the Company’s stockholders,
starting at the first stockholders meeting following the effective date of the IPO. 
  
 7.4 Accelerated Vesting. All NSOs granted to an Outside Director under this Article 7 shall become vested in full in the event that: 
  
 (a) Such Outside Director’s Service terminates because of death, total and permanent disability or
retirement at or after age 65; or 
  
 (b) The
Company is subject to a Change in Control before such Outside Director’s Service terminates. 
  
 Acceleration of vesting may also be required by Section 11.3. 
  
 7.5 Exercise Price. The Exercise Price under all NSOs granted to an Outside Director under this Article 7 shall be equal to 100% of the Fair Market Value of a share of Stock on the date of grant, payable
in one of the forms described in Sections 6.1, 6.2 and 6.3. 
  
 7.6 Term. All NSOs granted to an Outside Director under this Article 7 shall terminate on the earliest of (a) the date 10 years after the date of grant or (b) the date 12 months after the termination of such Outside
Director’s Service for any reason. 
  
 7.7
Adjustments. The number of shares covered by NSOs, as described in this Article 7, shall be subject to adjustment pursuant to Article 11. 
  
 7.8 Affiliates of Outside Directors. The Committee may provide that the NSOs that otherwise would be granted to an Outside Director under
this Article 7 shall instead be granted to an affiliate of such Outside Director. Such affiliate shall then be deemed to be an Outside Director for purposes of the Plan, provided that the Service-related vesting and termination provisions pertaining
to the NSOs shall be applied with regard to the Service of the Outside Director. 
  
 ARTICLE 8. STOCK APPRECIATION RIGHTS. 
  
 8.1 SAR Agreement. Each grant of an SAR under the Plan shall be evidenced by an SAR Agreement between the Optionee and the Company. Such SAR shall be subject to all applicable terms of the Plan and may
be subject to any other terms that are not inconsistent with the Plan. The provisions of the various SAR Agreements entered into under the Plan need not be identical. SARs may be granted in consideration of a reduction in the Optionee’s other
compensation. 
  

 6 

 8.2 Number of Shares. Each SAR Agreement shall specify the number of shares of Stock to
which the SAR pertains and shall provide for the adjustment of such number in accordance with Article 11. SARs granted to any Optionee in a single fiscal year shall in no event pertain to more than 500,000 shares of Stock, except that SARs granted
to a new Employee in the fiscal year of the Company in which his or her Service as an Employee first commences shall not pertain to more than 2,000,000 shares of Stock. The limitations set forth in the preceding sentence shall be subject to
adjustment in accordance with Article 11. 
  
 8.3
Exercise Price. Each SAR Agreement shall specify the Exercise Price. An SAR Agreement may specify an Exercise Price that varies in accordance with a predetermined formula while the SAR is outstanding. 
  
 8.4 Exercisability and Term. Each SAR Agreement shall specify
the date when all or any installment of the SAR is to become exercisable. The SAR Agreement shall also specify the term of the SAR. An SAR Agreement may provide for accelerated exercisability in the event of the Optionee’s death, disability or
retirement or other events and may provide for expiration prior to the end of its term in the event of the termination of the Optionee’s Service. SARs may be awarded in combination with Options, and such an Award may provide that the SARs will
not be exercisable unless the related Options are forfeited. An SAR may be included in an ISO only at the time of grant but may be included in an NSO at the time of grant or thereafter. An SAR granted under the Plan may provide that it will be
exercisable only in the event of a Change in Control. 
  
 8.5
Effect of Change in Control. The Committee may determine, at the time of granting an SAR or thereafter, that such SAR shall become partly or fully exercisable as to all shares of Stock subject to such SAR in the event that the Company is
subject to a Change in Control or in the event that the Optionee is subject to an Involuntary Termination after a Change in Control. In addition, acceleration of exercisability may be required under Section 11.3. 
  
 8.6 Exercise of SARs. Upon exercise of an SAR, the Optionee (or
any person having the right to exercise the SAR after his or her death) shall receive from the Company (a) shares of Stock, (b) cash or (c) a combination of shares of Stock and cash, as the Committee shall determine. The amount of cash and/or the
Fair Market Value of shares of Stock received upon exercise of SARs shall, in the aggregate, be equal to the amount by which the Fair Market Value (on the date of surrender) of the shares of Stock subject to the SARs exceeds the Exercise Price. If,
on the date when an SAR expires, the Exercise Price under such SAR is less than the Fair Market Value on such date but any portion of such SAR has not been exercised or surrendered, then such SAR shall automatically be deemed to be exercised as of
such date with respect to such portion. 
  
 8.7
Modification or Assumption of SARs. Within the limitations of the Plan, the Committee may modify, reprice, extend or assume outstanding SARs or may accept the cancellation of outstanding SARs (whether granted by the Company or by another
issuer) in return for the grant of new SARs for the same or a different number of shares and at the same or a different exercise price. The foregoing notwithstanding, no modification of an SAR shall, without the consent of the Optionee, alter or
impair his or her rights or obligations under such SAR. 
  

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 ARTICLE 9. RESTRICTED SHARES. 
  
 9.1 Restricted Stock Agreement. Each grant of Restricted Shares under the Plan shall be evidenced by a
Restricted Stock Agreement between the recipient and the Company. Such Restricted Shares shall be subject to all applicable terms of the Plan and may be subject to any other terms that are not inconsistent with the Plan. The provisions of the
various Restricted Stock Agreements entered into under the Plan need not be identical. 
  
 9.2 Payment for Awards. Subject to the following two sentences, Restricted Shares may be sold or awarded under the Plan for such consideration as the Committee may determine, including (without
limitation) cash, cash equivalents, property, full-recourse promissory notes, past services and future services. To the extent that an Award consists of newly issued Restricted Shares, the consideration shall consist exclusively of cash, cash
equivalents, property or past services rendered to the Company (or a Parent or Subsidiary) or, for the amount in excess of the par value of such newly issued Restricted Shares, full-recourse promissory notes. If the Participant is an Outside
Director or executive officer of the Company, he or she may pay for Restricted Shares with a promissory note only to the extent permitted by section 13(k) of the Exchange Act. Within the limitations of the Plan, the Committee may accept the
cancellation of outstanding options in return for the grant of Restricted Shares. 
  
 9.3 Vesting Conditions. Each Award of Restricted Shares may or may not be subject to vesting. Vesting shall occur, in full or in installments, upon satisfaction of the conditions specified in the
Restricted Stock Agreement. The Committee may include among such conditions the requirement that the performance of the Company or a business unit of the Company for a specified period of one or more fiscal years equal or exceed a target determined
in advance by the Committee. The Company’s independent auditors shall determine such performance. Such target may be based on one or more of the criteria set forth in Appendix A. The Committee shall identify such target not later than the
90th day of such period. In no event shall more than 500,000 Restricted Shares that are subject to performance-based
vesting conditions be granted to any Participant in a single fiscal year of the Company, except that 2,000,000 Restricted Shares may be granted to a new Employee in the fiscal year of the Company in which his or her service as an Employee first
commences, with each limitation subject to adjustment in accordance with Article 11. A Restricted Stock Agreement may provide for accelerated vesting in the event of the Participant’s death, disability or retirement or other events. The
Committee may determine, at the time of granting Restricted Shares or thereafter, that all or part of such Restricted Shares shall become vested in the event that a Change in Control occurs with respect to the Company or in the event that the
Participant is subject to an Involuntary Termination after a Change in Control. In addition, acceleration of vesting may be required under Section 11.3. 
  
 9.4 Voting and Dividend Rights. The holders of Restricted Shares awarded under the Plan shall have the same voting, dividend and other
rights as the Company’s other stockholders. A Restricted Stock Agreement, however, may require that the holders of Restricted Shares invest any cash dividends received in additional Restricted Shares. Such additional Restricted Shares shall be
subject to the same conditions and restrictions as the Award with respect to which the dividends were paid. 
  

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 ARTICLE 10. STOCK UNITS. 
  
 10.1 Stock Unit Agreement. Each grant of Stock Units under the Plan shall be evidenced by a Stock Unit
Agreement between the recipient and the Company. Such Stock Units shall be subject to all applicable terms of the Plan and may be subject to any other terms that are not inconsistent with the Plan. The provisions of the various Stock Unit Agreements
entered into under the Plan need not be identical. Stock Units may be granted in consideration of a reduction in the recipient’s other compensation. Stock units granted to a recipient may in no event pertain to more than $2,000,000 in a single
fiscal year. 
  
 10.2 Payment for Awards. To the
extent that an Award is granted in the form of Stock Units, no cash consideration shall be required of the Award recipients. 
  
 10.3 Vesting Conditions. Each Award of Stock Units may or may not be subject to vesting. Vesting shall occur, in full or in installments,
upon satisfaction of the conditions specified in the Stock Unit Agreement. The Committee may include among such conditions the requirement that the performance of the Company or a business unit of the Company for a specified period of one or more
fiscal years equal or exceed a target determined in advance by the Committee. The Company’s independent auditors shall determine such performance. Such target may be based on one or more of the criteria set forth in Appendix A. The Committee
shall identify such target not later than the 90th day of such period. In no event shall more than 500,000 Stock
Units that are subject to performance-based vesting conditions be granted to any Participant in a single fiscal year of the Company, except that 2,000,000 Stock Units may be granted to a new Employee in the fiscal year of the Company in which his or
her service as an Employee first commences, with each limitation subject to adjustment in accordance with Article 11. A Stock Unit Agreement may provide for accelerated vesting in the event of the Participant’s death, disability or retirement
or other events. The Committee may determine, at the time of granting Stock Units or thereafter, that all or part of such Stock Units shall become vested in the event that the Company is subject to a Change in Control or in the event that the
Participant is subject to an Involuntary Termination after a Change in Control. In addition, acceleration of vesting may be required under Section 11.3. 
  
 10.4 Voting and Dividend Rights. The holders of Stock Units shall have no voting rights. Prior to settlement or forfeiture, any Stock Unit
awarded under the Plan may, at the Committee’s discretion, carry with it a right to dividend equivalents. Such right entitles the holder to be credited with an amount equal to all cash dividends paid on one share of Stock while the Stock Unit
is outstanding. Dividend equivalents may be converted into additional Stock Units. Settlement of dividend equivalents may be made in the form of cash, in the form of shares of Stock, or in a combination of both. Prior to distribution, any dividend
equivalents that are not paid shall be subject to the same conditions and restrictions as the Stock Units to which they attach. 
  
 10.5 Form and Time of Settlement of Stock Units. Settlement of vested Stock Units may be made in the form of (a) cash, (b) shares of Stock
or (c) any combination of both, as determined by the Committee. The actual number of Stock Units eligible for settlement may be larger or smaller than the number included in the original Award, based on predetermined performance factors. Methods of
converting Stock Units into cash may include 
  

 9 

 (without limitation) a method based on the average Fair Market Value of shares of Stock over a series of trading days.
Vested Stock Units may be settled in a lump sum or in installments. The distribution may occur or commence when all vesting conditions applicable to the Stock Units have been satisfied or have lapsed, or it may be deferred to any later date. The
amount of a deferred distribution may be increased by an interest factor or by dividend equivalents. Until an Award of Stock Units is settled, the number of such Stock Units shall be subject to adjustment pursuant to Article 11. 
  
 10.6 Death of Recipient. Any Stock Units Award that becomes
payable after the recipient’s death shall be distributed to the recipient’s beneficiary or beneficiaries. Each recipient of a Stock Units Award under the Plan shall designate one or more beneficiaries for this purpose by filing the
prescribed form with the Company. A beneficiary designation may be changed by filing the prescribed form with the Company at any time before the Award recipient’s death. If no beneficiary was designated or if no designated beneficiary survives
the Award recipient, then any Stock Units Award that becomes payable after the recipient’s death shall be distributed to the recipient’s estate. 
  
 10.7 Creditors’ Rights. A holder of Stock Units shall have no rights other than those of a general creditor of the Company. Stock Units
represent an unfunded and unsecured obligation of the Company, subject to the terms and conditions of the applicable Stock Unit Agreement. 
  
 ARTICLE 11. PROTECTION AGAINST DILUTION. 
  
 11.1 Adjustments. In the event of a subdivision of the outstanding shares of Stock, a declaration of a dividend payable in shares of Stock
or a combination or consolidation of the outstanding shares of Stock (by reclassification or otherwise) into a lesser number of shares of Stock, corresponding adjustments shall automatically be made in each of the following: 
  
 (a) The number of Options, SARs, Restricted Shares and Stock
Units available for future Awards under Article 3; 
  
 (b) The limitations set forth in Sections 5.2, 8.2, 9.3 and 10.3; 
  
 (c) The number of shares of Stock covered by each outstanding Option and SAR; 
  
 (d) The Exercise Price under each outstanding Option and SAR; 
  
 (e) The number of shares of Stock covered by an Option to be granted under Article 7; or 
  
 (f) The number of Stock Units included in any prior Award
that has not yet been settled. 
  
 In the event of a declaration of an
extraordinary dividend payable in a form other than shares of Stock in an amount that has a material effect on the price of shares of Stock, a recapitalization, a 
  

 10 

 spin-off or a similar occurrence, the Committee shall make such adjustments as it, in its sole discretion, deems
appropriate in one or more of the foregoing. Except as provided in this Article 11, a Participant shall have no rights by reason of any issuance by the Company of stock of any class or securities convertible into stock of any class, any subdivision
or consolidation of shares of stock of any class, the payment of any stock dividend or any other increase or decrease in the number of shares of stock of any class. 
  
 11.2 Dissolution or Liquidation. To the extent not previously exercised or settled, Options, SARs and Stock
Units shall terminate immediately prior to the dissolution or liquidation of the Company. 
  
 11.3 Reorganizations. In the event that the Company is a party to a merger or consolidation, all outstanding Awards shall be subject to the agreement of merger or consolidation. Such agreement shall
provide for one or more of the following: 
  
 (a)
The continuation of such outstanding Awards by the Company (if the Company is the surviving corporation). 
  
 (b) The assumption of such outstanding Awards by the surviving corporation or its parent, provided that the assumption of Options or SARs
shall comply with section 424(a) of the Code (whether or not the Options are ISOs). 
  
 (c) The substitution by the surviving corporation or its parent of new awards for such outstanding Awards, provided that the substitution
of Options or SARs shall comply with section 424(a) of the Code (whether or not the Options are ISOs). 
  
 (d) Full exercisability of outstanding Options and SARs and full vesting of the shares of Stock subject to such Options and SARs, followed
by the cancellation of such Options and SARs. The full exercisability of such Options and SARs and full vesting of such shares of Stock may be contingent on the closing of such merger or consolidation. The Optionees shall be able to exercise such
Options and SARs during a period of not less than five full business days preceding the closing date of such merger or consolidation, unless (i) a shorter period is required to permit a timely closing of such merger or consolidation and (ii) such
shorter period still offers the Optionees a reasonable opportunity to exercise such Options and SARs. Any exercise of such Options and SARs during such period may be contingent on the closing of such merger or consolidation. 
  
 (e) The cancellation of outstanding Options and SARs and a
payment to the Optionees equal to the excess of (i) the Fair Market Value of the shares of Stock subject to such Options and SARs (whether or not such Options and SARs are then exercisable or such shares of Stock are then vested) as of the closing
date of such merger or consolidation over (ii) their Exercise Price. Such payment shall be made in the form of cash, cash equivalents, or securities of the 
  

 11 

 surviving corporation or its parent with a Fair Market Value equal to the required amount. Such payment
may be made in installments and may be deferred until the date or dates when such Options and SARs would have become exercisable or such shares of Stock would have vested. Such payment may be subject to vesting based on the Optionee’s
continuing Service, provided that the vesting schedule shall not be less favorable to the Optionee than the schedule under which such Options and SARs would have become exercisable or such shares of Stock would have vested. If the Exercise Price of
the shares of Stock subject to such Options and SARs exceeds the Fair Market Value of such shares of Stock, then such Options and SARs may be cancelled without making a payment to the Optionees. For purposes of this Subsection (e), the Fair Market
Value of any security shall be determined without regard to any vesting conditions that may apply to such security. 
  
 (f) The cancellation of outstanding Stock Units and a payment to the Participants equal to the Fair Market Value of the shares of Stock
subject to such Stock Units (whether or not such Stock Units are then vested) as of the closing date of such merger or consolidation. Such payment shall be made in the form of cash, cash equivalents, or securities of the surviving corporation or its
parent with a Fair Market Value equal to the required amount. Such payment may be made in installments and may be deferred until the date or dates when such Stock 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 Stock Units would have vested. For purposes of this Subsection (f), the Fair Market Value of
any security shall be determined without regard to any vesting conditions that may apply to such security. 
  
 ARTICLE 12. DEFERRAL OF AWARDS. 
  
 The Committee (in its sole discretion) may permit or require a Participant to: 
  
 (a) Have cash that otherwise would be paid to such Participant as a result of the exercise of an SAR or the
settlement of Stock Units credited to a deferred compensation account established for such Participant by the Committee as an entry on the Company’s books; 
  
 (b) Have shares of Stock that otherwise would be delivered to such Participant as a result of the exercise
of an Option or SAR converted into an equal number of Stock Units; or 
  
 (c) Have shares of Stock that otherwise would be delivered to such Participant as a result of the exercise of an Option or SAR or the settlement of Stock Units converted into amounts credited to a deferred
compensation account established for such Participant by the Committee as an entry on the Company’s books. Such amounts shall be determined by reference to the Fair 
  

 12 

 Market Value of such shares of Stock as of the date when they otherwise would have been delivered to such
Participant. 
  
 A deferred compensation account established under this Article 12
may be credited with interest or other forms of investment return, as determined by the Committee. A Participant for whom such an account is established shall have no rights other than those of a general creditor of the Company. Such an account
shall represent an unfunded and unsecured obligation of the Company and shall be subject to the terms and conditions of the applicable agreement between such Participant and the Company. If the deferral or conversion of Awards is permitted or
required, the Committee (in its sole discretion) may establish rules, procedures and forms pertaining to such Awards, including (without limitation) the settlement of deferred compensation accounts established under this Article 12. 
  
 ARTICLE 13. AWARDS UNDER OTHER PLANS. 
  
 The Company may grant awards under other plans or programs. Such awards may
be settled in the form of shares of Stock issued under this Plan. Such shares of Stock shall be treated for all purposes under the Plan like shares of Stock issued in settlement of Stock Units and shall, when issued, reduce the number of shares of
Stock available under Article 3. 
  
 ARTICLE 14. PAYMENT OF
DIRECTOR’S FEES IN SECURITIES. 
  
 14.1
Effective Date. No provision of this Article 14 shall be effective unless and until the Board has determined to implement such provision. 
  
 14.2 Elections to Receive NSOs, Restricted Shares or Stock Units. An Outside Director may elect to receive his or her annual retainer
payments and/or meeting fees from the Company in the form of cash, NSOs, Restricted Shares or Stock Units, or a combination thereof, as determined by the Board. Such NSOs, Restricted Shares and Stock Units shall be issued under the Plan. An election
under this Article 14 shall be filed with the Company on the prescribed form. 
  
 14.3 Number and Terms of NSOs, Restricted Shares or Stock Units. The number of NSOs, Restricted Shares or Stock Units to be granted to Outside Directors in lieu of annual retainers and meeting fees that
would otherwise be paid in cash shall be calculated in a manner determined by the Board. The Board shall also determine the terms of such NSOs, Restricted Shares or Stock Units. 
  
 ARTICLE 15. LIMITATION ON RIGHTS. 
  
 15.1 Retention Rights. Neither the Plan nor any Award granted under the Plan shall be deemed to give any
individual a right to remain an Employee, Outside Director or Consultant. The Company and its Parents, Subsidiaries and Affiliates reserve the right to terminate the Service of any Employee, Outside Director or Consultant at any time, with or
without cause, subject to applicable laws, the Company’s certificate of incorporation and by-laws and a written employment agreement (if any). 
  

 13 

 15.2 Stockholders’ Rights. A Participant shall have no dividend rights, voting rights
or other rights as a stockholder with respect to any shares of Stock covered by his or her Award prior to the time when a stock certificate for such shares of Stock is issued or, if applicable, the time when he or she becomes entitled to receive
such shares of Stock by filing any required notice of exercise and paying any required Exercise Price. No adjustment shall be made for cash dividends or other rights for which the record date is prior to such time, except as expressly provided in
the Plan. 
  
 15.3 Regulatory Requirements. Any
other provision of the Plan notwithstanding, the obligation of the Company to issue shares of Stock under the Plan shall be subject to all applicable laws, rules and regulations and such approval by any regulatory body as may be required. The
Company reserves the right to restrict, in whole or in part, the delivery of shares of Stock pursuant to any Award prior to the satisfaction of all legal requirements relating to the issuance of such shares of Stock, to their registration,
qualification or listing or to an exemption from registration, qualification or listing. 
  
 ARTICLE 16. WITHHOLDING TAXES. 
  
 16.1 General. To the extent required by applicable federal, state, local or foreign law, a Participant or his or her successor shall make arrangements satisfactory to the Company for the satisfaction of any withholding tax
obligations that arise in connection with the Plan. The Company shall not be required to issue any shares of Stock or make any cash payment under the Plan until such obligations are satisfied. 
  
 16.2 Share Withholding. To the extent that applicable law
subjects a Participant to tax withholding obligations, the Committee may permit such Participant to satisfy all or part of such obligations by having the Company withhold all or a portion of any shares of Stock that otherwise would be issued to him
or her or by surrendering all or a portion of any shares of Stock that he or she previously acquired. Such shares of Stock shall be valued at their Fair Market Value on the date when they are withheld or surrendered. 
  
 ARTICLE 17. FUTURE OF THE PLAN. 
  
 17.1 Term of the Plan. The Plan, as set forth herein, shall
become effective on the date of effectiveness of the IPO. The Plan shall remain in effect until the earlier of (a) the date when the Plan is terminated under Section 17.2 or (b) the 10th anniversary of the date when the Board adopted the Plan. The Plan shall serve as the successor to the 2000 Stock Plan, and no further option grants shall be
made under the 2000 Stock Plan after the Plan effective date. All options outstanding under the 2000 Stock Plan as of such date shall, immediately upon effectiveness of the Plan, remain outstanding in accordance with their terms. Each outstanding
option under the 2000 Stock Plan shall continue to be governed solely by the terms of the documents evidencing such option, and no provision of the Plan shall be deemed to affect or otherwise modify the rights or obligations of the holders of such
options with respect to their acquisition of shares of Stock. 
  
 17.2 Amendment or Termination. The Board may, at any time and for any reason, amend or terminate the Plan. No Awards shall be granted under the Plan after the 
  

 14 

 termination thereof. The termination of the Plan, or any amendment thereof, shall not affect any Award previously granted
under the Plan. 
  
 17.3 Stockholder Approval. An
amendment of the Plan shall be subject to the approval of the Company’s stockholders only to the extent required by applicable laws, regulations or rules. However, section 162(m) of the Code may require that the Company’s stockholders
approve: 
  
 (a) The Plan not later than the
first regular meeting of stockholders that occurs in the fourth calendar year following the calendar year in which the IPO occurred; and 
  
 (b) The performance criteria set forth in Appendix A not later than the first meeting of stockholders that occurs in the fifth year
following the year in which the Company’s stockholders previously approved such criteria. 
  
 ARTICLE 18. DEFINITIONS. 
  
 18.1 “Affiliate” means any entity other than a Subsidiary, if the Company and/or one or more Subsidiaries own not less than 50% of such entity. 
  
 18.2 “Award” means any award of an Option, an SAR, a Restricted Share or a Stock Unit under the
Plan. 
  
 18.3 “Board” means the
Company’s Board of Directors, as constituted from time to time. 
  
 18.4 “Cause” means (a) the unauthorized use or disclosure of the confidential information or trade secrets of the Company, which use or disclosure causes material harm to the Company, (b) a material breach of any
agreement between the Participant and the Company, (c) a material failure to comply with the Company’s written policies or rules, (d) conviction of, or a plea of “guilty” or “no contest” to, a felony under the laws of the
United States or any State thereof, (e) gross negligence or willful misconduct or (f) continued failure to perform assigned duties after receiving written notification of such failure from the Company’s Board of Directors, President or Chief
Executive Officer. The foregoing, however, shall not be deemed an exclusive list of all acts or omissions that the Company (or the Parent, Subsidiary or Affiliate employing the Participant) may consider as grounds for the discharge of a Participant
without Cause. 
  
 18.5 “Change in
Control” means: 
  
 (a) The consummation
of a merger or consolidation of the Company with or into another entity or any other corporate reorganization, if persons who were not stockholders of the Company immediately prior to such merger, consolidation or other reorganization own
immediately after such merger, consolidation or other reorganization 50% or more of the voting power of the outstanding securities of each of (i) the continuing or surviving entity and (ii) any direct or indirect parent corporation of such
continuing or surviving entity; 
  

 15 

 (b) The sale, transfer or other disposition of all or substantially all of the
Company’s assets; 
  
 (c) A change in the
composition of the Board, as a result of which fewer than 50% of the incumbent directors are directors who either: 
  
 (i) Had been directors of the Company on the date 24 months prior to the date of such change in the composition of the Board (the
“Original Directors”); or 
  
 (ii) Were
appointed to the Board, or nominated for election to the Board, with the affirmative votes of at least a majority of the aggregate of (A) the Original Directors who were in office at the time of their appointment or nomination and (B) the directors
whose appointment or nomination was previously approved in a manner consistent with this Paragraph (ii); or 
  
 (d) Any transaction as a result of which any person is the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act),
directly or indirectly, of securities of the Company representing at least 50% of the total voting power represented by the Company’s then outstanding voting securities. For purposes of this Subsection (d), the term “person” shall
have the same meaning as when used in sections 13(d) and 14(d) of the Exchange Act but shall exclude (i) a trustee or other fiduciary holding securities under an employee benefit plan of the Company or of a Parent or Subsidiary and (ii) a
corporation owned directly or indirectly by the stockholders of the Company in substantially the same proportions as their ownership of the common stock of the Company. 
  
 A transaction shall not constitute a Change in Control if its sole purpose is to change the state of the 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 securities immediately before such transaction. 
  
 18.6 “Code” means the Internal Revenue Code of 1986, as amended. 
  
 18.7 “Committee” means a committee of the Board, as
described in Article 2. 
  
 18.8 “Company”
means Seven Networks, Inc., a Delaware corporation. 
  
 18.9
“Consultant” means a consultant or adviser who provides bona fide services to the Company, a Parent, a Subsidiary or an Affiliate as an independent contractor. Service as a Consultant shall be considered employment for all
purposes of the Plan, except as provided in Section 4.1. 
  
 18.10 “Employee” means a common-law employee of the Company, a Parent, a Subsidiary or an Affiliate. 
  
 18.11 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
  

 16 

 18.12 “Exercise Price,” in the case of an Option, means the amount for which one
share of Stock may be purchased upon exercise of such Option, as specified in the applicable Stock Option Agreement. “Exercise Price,” in the case of an SAR, means an amount, as specified in the applicable SAR Agreement, which is
subtracted from the Fair Market Value of one share of Stock in determining the amount payable upon exercise of such SAR. 
  
 18.13 “Fair Market Value” means the market price of shares of Stock, determined by the Committee in good faith on such basis as it
deems appropriate. Whenever possible, the determination of Fair Market Value by the Committee shall be based on the prices reported in The Wall Street Journal. Such determination shall be conclusive and binding on all persons. 
  
 18.14 “Involuntary Termination” means the termination
of the Participant’s Service by reason of: 
  
 (a) The involuntary discharge of the Participant by the Company (or the Parent, Subsidiary or Affiliate employing him or her) for reasons other than Cause; or 
  
 (b) The voluntary resignation of the Participant following (i) a change in the Participant’s position
with the Company (or the Parent, Subsidiary or Affiliate employing him or her) that materially reduces the Participant’s level of authority or responsibility, (ii) a reduction in the Participant’s base salary by more than 10% or (iii)
receipt of notice that his or her principal workplace will be relocated by more than 30 miles. 
  
 18.15 “IPO” means the effective date of the registration statement filed by the Company with the Securities and Exchange Commission for its initial offering of Stock to the public. 

 
 18.16 “ISO” means an incentive stock option
described in section 422(b) of the Code. 
  
 18.17
“NSO” means a stock option not described in sections 422 or 423 of the Code. 
  
 18.18 “Option” means an ISO or NSO granted under the Plan and entitling the holder to purchase shares of Stock. 
  
 18.19 “Optionee” means a person or estate who holds
an Option or SAR. 
  
 18.20 “Outside
Director” means a member of the Board who is not an Employee. Service as an Outside Director shall be considered employment for all purposes of the Plan, except as provided in Section 4.1. 
  
 18.21 “Parent” means any corporation (other than the
Company) in an unbroken chain of corporations ending with the Company, if each of the corporations other than the Company owns stock possessing 50% or more of the total combined voting power of all classes 
  

 17 

 of stock in one of the other corporations in such chain. A corporation that attains the status of a Parent on a date
after the adoption of the Plan shall be considered a Parent commencing as of such date. 
  
 18.22 “Participant” means a person or estate who holds an Award. 
  
 18.23 “Plan” means this Seven Networks, Inc. 2004 Equity Incentive Plan, as amended from time to time. 
  
 18.24 “Restricted Share” means a share of Stock
awarded under the Plan. 
  
 18.25 “Restricted Stock
Agreement” means the agreement between the Company and the recipient of a Restricted Share that contains the terms, conditions and restrictions pertaining to such Restricted Share. 
  
 18.26 “SAR” means a stock appreciation right granted
under the Plan. 
  
 18.27 “SAR Agreement”
means the agreement between the Company and an Optionee that contains the terms, conditions and restrictions pertaining to his or her SAR. 
  
 18.28 “Service” means service as an Employee, Outside Director or Consultant. 
  
 18.29 “Stock” means the Common Stock of the Company.

  
 18.30 “Stock Option Agreement” means
the agreement between the Company and an Optionee that contains the terms, conditions and restrictions pertaining to his or her Option. 
  
 18.31 “Stock Unit” means a bookkeeping entry representing the equivalent of one share of Stock, as awarded under the Plan.

  
 18.32 “Stock Unit Agreement” means the
agreement between the Company and the recipient of a Stock Unit that contains the terms, conditions and restrictions pertaining to such Stock Unit. 
  
 18.33 “Subsidiary” means any corporation (other than the Company) in an unbroken chain of corporations beginning with the Company,
if each of the corporations other than the last corporation in the unbroken chain owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain. A corporation 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. 
  

 18 

 APPENDIX A 
  
 PERFORMANCE CRITERIA FOR RESTRICTED SHARES
AND STOCK UNITS 
  
 The
performance goals that may be used by the Committee for such awards may consist of: operating profits (including EBITDA), net profits, earnings per share, profit returns and margins, revenues, shareholder return and/or value, stock price, working
capital, operational metrics, including without limitation certain individual objectives. Performance goals may be measured solely on an individual, corporate, subsidiary or business unit basis, or a combination thereof. Further, performance
criteria may reflect absolute individual performance, entity performance or a relative comparison of entity performance to the performance of a peer group of entities or other external measure of the selected performance criteria. Profit, earnings
and revenues used for any performance goal measurement may exclude: gains or losses on operating asset sales or dispositions; asset write-downs; litigation or claim judgments or settlements; accruals for historic environmental obligations; effect of
changes in tax law or rate on deferred tax liabilities; accruals for reorganization and restructuring programs; uninsured catastrophic property losses; the cumulative effect of changes in accounting principles; and any extraordinary non-recurring
items as described in Accounting Principles Board Opinion No. 30 and/or in management’s discussion and analysis of financial performance appearing in the Corporation’s annual report to stockholders for the applicable year.

  

 192004 Employee Stock Purchase Plan

 Exhibit 10.4 
  
 SEVEN NETWORKS, INC. 
  
 2004 EMPLOYEE STOCK PURCHASE
PLAN 
  
 (AS
ADOPTED MARCH 12, 2004) 

 TABLE OF CONTENTS 
  

			
	 	  	Page

		
	 SECTION 1. PURPOSE OF THE PLAN
	  	1
		
	 SECTION 2. ADMINISTRATION OF THE PLAN
	  	1
		
	 (a) Committee Composition
	  	1
		
	 (b) Committee Responsibilities
	  	1
		
	 SECTION 3. ENROLLMENT AND PARTICIPATION
	  	2
		
	 (a) Offering Periods
	  	2
		
	 (b) Accumulation Periods
	  	2
		
	 (c) Enrollment
	  	2
		
	 (d) Duration of Participation
	  	2
		
	 (e) Applicable Offering Period
	  	3
		
	 SECTION 4. EMPLOYEE CONTRIBUTIONS
	  	3
		
	 (a) Frequency of Payroll Deductions
	  	3
		
	 (b) Amount of Payroll Deductions
	  	3
		
	 (c) Changing Withholding Rate
	  	3
		
	 (d) Discontinuing Payroll Deductions
	  	4
		
	 (e) Limit on Number of Elections
	  	4
		
	 SECTION 5. WITHDRAWAL FROM THE PLAN
	  	4
		
	 (a) Withdrawal
	  	4
		
	 (b) Re-Enrollment After Withdrawal
	  	4
		
	 SECTION 6. CHANGE IN EMPLOYMENT STATUS
	  	4
		
	 (a) Termination of Employment
	  	4
		
	 (b) Leave of Absence
	  	4
		
	 (c) Death
	  	4
		
	 SECTION 7. PLAN ACCOUNTS AND PURCHASE OF SHARES
	  	5
		
	 (a) Plan Accounts
	  	5
		
	 (b) Purchase Price
	  	5
		
	 (c) Number of Shares Purchased
	  	5
		
	 (d) Available Shares Insufficient
	  	5
		
	 (e) Issuance of Stock
	  	5
		
	 (f) Tax Withholding
	  	6
		
	 (g) Unused Cash Balances
	  	6
		
	 (h) Stockholder Approval
	  	6
		
	 SECTION 8. LIMITATIONS ON STOCK OWNERSHIP
	  	6
		
	 (a) Five Percent Limit
	  	6
		
	 (b) Dollar Limit
	  	6

  

 i 

			
		
	 SECTION 9. RIGHTS NOT TRANSFERABLE
	  	7
		
	 SECTION 10. NO RIGHTS AS AN EMPLOYEE
	  	7
		
	 SECTION 11. NO RIGHTS AS A STOCKHOLDER
	  	7
		
	 SECTION 12. SECURITIES LAW REQUIREMENTS
	  	7
		
	 SECTION 13. STOCK OFFERED UNDER THE PLAN
	  	8
		
	 (a) Authorized Shares
	  	8
		
	 (b) Anti-Dilution Adjustments
	  	8
		
	 (c) Reorganizations
	  	8
		
	 SECTION 14. AMENDMENT OR DISCONTINUANCE
	  	8
		
	 SECTION 15. DEFINITIONS
	  	9
		
	 (a) Accumulation Period
	  	9
		
	 (b) Board
	  	9
		
	 (c) Code
	  	9
		
	 (d) Committee
	  	9
		
	 (e) Company
	  	9
		
	 (f) Compensation
	  	9
		
	 (g) Corporate Reorganization
	  	9
		
	 (h) Eligible Employee
	  	9
		
	 (i) Exchange Act
	  	10
		
	 (j) Fair Market Value
	  	10
		
	 (k) IPO
	  	10
		
	 (l) Offering Period
	  	10
		
	 (m) Participant
	  	10
		
	 (n) Participating Company
	  	10
		
	 (o) Plan
	  	10
		
	 (p) Plan Account
	  	10
		
	 (q) Purchase Price
	  	10
		
	 (r) Stock
	  	10
		
	 (s) Subsidiary
	  	10

  
  

 ii 

 SEVEN NETWORKS, INC. 
  
 2004 EMPLOYEE STOCK PURCHASE
PLAN 
  
 SECTION 1. PURPOSE OF THE PLAN. 
  
 The Board adopted the Plan effective as of the date of the IPO. The purpose
of the Plan is to provide Eligible Employees with an opportunity to increase their proprietary interest in the success of the Company by purchasing Stock from the Company on favorable terms and to pay for such purchases through payroll deductions.
The Plan document is intended to incorporate a Section 423 Plan. In addition, this Plan document authorizes the grant of options under a Non-423 Plan which do not qualify under Section 423 of the Code pursuant to rules, procedures or sub-plans
adopted by the Committee designed to achieve desired tax or other objectives in particular locations outside the United States. The term “Plan” used herein should apply both to the 423 Plan and Non-423 Plan. 
  
 SECTION 2. ADMINISTRATION OF THE PLAN. 
  
 (a) Committee Composition. The Committee shall administer the Plan.
The Committee shall consist exclusively of one or more directors of the Company, who shall be appointed by the Board. 
  
 (b) Committee Responsibilities. The Committee shall interpret the Plan and make all other policy decisions relating to the operation of the Plan.
The Committee may adopt such rules, guidelines and forms as it deems appropriate to implement the Plan. The Committee’s determinations under the Plan shall be final and binding on all persons. 
  
 (c) Committee Responsibilities in Foreign Jurisdictions. The Committee
may adopt rules or procedures relating to the operation and administration of the Plan to accommodate the specific requirements of local laws and procedures. Without limiting the generality of the foregoing, the Committee is specifically authorized
to adopt rules and procedures regarding handling of payroll deductions, payment of interest, conversion of local currency, withholding procedures and handling of stock certificates which vary with local requirements. 
  
 The Committee may also adopt rules, procedures or sub-plans applicable to
particular Subsidiaries or locations, which sub-plans may be designed to be outside the scope of Code Section 423. The rules of such sub-plans may take precedence over other provisions of this Plan, with the exception of Section 13(a), but unless
otherwise superceded by the terms of such sub-plan, the provisions of this Plan shall govern the operation of such sub-plan. To the extent inconsistent with the requirements of Code Section 423, such sub-plan shall be considered part of the Non-423
Plan, and options granted thereunder shall not be considered to comply with Code Section 423. 

 SECTION 3. ENROLLMENT AND PARTICIPATION. 
  
 (a) Offering Periods. While the Plan is in effect, two overlapping Offering Periods shall commence in each calendar
year. The Offering Periods shall consist of the 12-month periods commencing on each August 15 and February 15, except that the first Offering Period shall commence on the date of the IPO and end on February 14, 2005. 
  
 (b) Accumulation Periods. While the Plan is in effect, two
Accumulation Periods shall commence in each calendar year. The Accumulation Periods shall consist of the six-month periods commencing on each August 15 and February 15, except that the first Accumulation Period shall commence on the date of the IPO
and end on August 14, 2004. 
  
 (c) Enrollment. 

 
 (i) At IPO. Each individual who, on the day of the
IPO, qualifies as an Eligible Employee shall automatically become a Participant on such day. Each Participant who was automatically enrolled on the day of the IPO shall file the prescribed enrollment form with the Company. The enrollment form shall
be filed at the prescribed location within 10 business days after the Company filed a registration statement on Form S-8 for the shares of Stock offered under the Plan. If a Participant who was automatically enrolled on the day of the IPO fails to
file such form in a timely manner, then such Participant shall be deemed to have withdrawn from the Plan under Section 5(a). A former Participant who is deemed to have withdrawn from the Plan shall not be a Participant until he or she re-enrolls in
the Plan under Subsection (ii) below. Re-enrollment may be effective only at the commencement of an Offering Period. 
  
 (ii) After IPO. In the case of any individual who qualifies as an Eligible Employee on the first day of any Offering Period other
than the first Offering Period, he or she may elect to become a Participant on such day by filing the prescribed enrollment form with the Company. The enrollment form shall be filed at the prescribed location not later than 7 business days prior to
the commencement of such Offering Period. 
  
 (d) Duration of
Participation. Once enrolled in the Plan, a Participant shall continue to participate in the Plan until he or she ceases to be an Eligible Employee, withdraws from the Plan under Section 5(a) or is deemed to withdraw from the Plan under Section
3(c)(i) or reaches the end of the Accumulation Period in which his or her employee contributions were discontinued under Section 4(d) or 8(b). A Participant who discontinued employee contributions under Section 4(d) or withdrew from the Plan under
Section 5(a) may again become a Participant, if he or she then is an Eligible Employee, by following the procedure described in Subsection (c) above. A Participant whose employee contributions were discontinued automatically under Section 8(b) shall
automatically resume participation at the beginning of the earliest Accumulation Period ending in the next calendar year, if he or she then is an Eligible Employee. 
  

 2 

 (e) Applicable Offering Period. For purposes of calculating the Purchase Price under Section 7(b),
the applicable Offering Period shall be determined as follows: 
  
 (i) Once a Participant is enrolled in the Plan for an Offering Period, such Offering Period shall continue to apply to him or her until the earliest of (A) the end of such Offering Period, (B) the end of his or her
participation under Subsection (d) above or (C) re-enrollment for a subsequent Offering Period under Paragraph (ii) or (iii) below. 
  
 (ii) In the event that the Fair Market Value of Stock on the last trading day before the commencement of the Offering Period for which the
Participant is enrolled is higher than on the last trading day before the commencement of any subsequent Offering Period, the Participant shall automatically be re-enrolled for such subsequent Offering Period. 
  
 (iii) If Section 14(b) applies, the Participant shall
automatically be re-enrolled for a new Offering Period. 
  
 (iv) Any other provision of the Plan notwithstanding, the Company (at its sole discretion) may determine prior to the commencement of any new Offering Period that all Participants shall be re-enrolled for such new
Offering Period. 
  
 (v) When a Participant
reaches the end of an Offering Period but his or her participation is to continue, then such Participant shall automatically be re-enrolled for the Offering Period that commences immediately after the end of the prior Offering Period. 
  
 SECTION 4. EMPLOYEE CONTRIBUTIONS. 
  
 (a) Frequency of Payroll Deductions. A Participant may purchase
shares of Stock under the Plan solely by means of payroll deductions. Payroll deductions, as designated by the Participant pursuant to Subsection (b) below, shall commence as soon as reasonably practicable after the Company has received the
prescribed enrollment form. 
  
 (b) Amount of Payroll
Deductions. An Eligible Employee shall designate on the enrollment form the portion of his or her Compensation that he or she elects to have withheld for the purchase of Stock. Such portion shall be a whole percentage of the Eligible
Employee’s Compensation, but not less than 1% nor more than 15%. 
  
 (c) Changing Withholding Rate. If a Participant wishes to change the rate of payroll withholding, he or she may do so by filing a new enrollment form with the Company at the prescribed location at any time. The new withholding rate
shall be effective as soon as reasonably practicable after the Company has received such form. The new withholding rate shall be a whole percentage of the Eligible Employee’s Compensation, but not less than 1% nor more than 15%. 
  

 3 

 (d) Discontinuing Payroll Deductions. If a Participant wishes to discontinue employee
contributions entirely, he or she may do so by filing a new enrollment form with the Company at the prescribed location at any time. Payroll withholding shall cease as soon as reasonably practicable after the Company has received such form. (In
addition, employee contributions may be discontinued automatically pursuant to Section 8(b).) A Participant who has discontinued employee contributions may resume such contributions by filing a new enrollment form with the Company at the prescribed
location. Payroll withholding shall resume as soon as reasonably practicable after the Company has received such form. 
  
 (e) Limit on Number of Elections. No Participant shall make more than two elections under Subsection (c) or (d) above during any Accumulation
Period. 
  
 SECTION 5. WITHDRAWAL FROM THE PLAN. 
  
 (a) Withdrawal. A Participant may elect to withdraw from the Plan by
filing the prescribed form with the Company at the prescribed location at any time before the last day of an Accumulation Period. As soon as reasonably practicable thereafter, payroll deductions shall cease and the entire amount credited to the
Participant’s Plan Account shall be refunded to him or her in cash, without interest. No partial withdrawals shall be permitted. 
  
 (b) Re-Enrollment After Withdrawal. A former Participant who has withdrawn from the Plan shall not be a Participant until he or she re-enrolls in
the Plan under Section 3(c). Re-enrollment may be effective only at the commencement of an Offering Period. 
  
 SECTION 6. CHANGE IN EMPLOYMENT STATUS. 
  
 (a) Termination of Employment. Termination of employment as an Eligible Employee for any reason, including death, shall be treated as an automatic withdrawal from the Plan under Section 5(a). (A transfer from
one Participating Company to another shall not be treated as a termination of employment.) 
  
 (b) Leave of Absence. For purposes of the Plan, employment shall not be deemed to terminate when the Participant goes on a military leave, a sick leave or another bona fide leave of absence, if the leave
was approved by the Company in writing. Employment, however, shall be deemed to terminate 90 days after the Participant goes on a leave, unless a contract or statute guarantees his or her right to return to work. Employment shall be deemed to
terminate in any event when the approved leave ends, unless the Participant immediately returns to work. 
  
 (c) Death. In the event of the Participant’s death, the amount credited to his or her Plan Account shall be paid to a beneficiary designated
by him or her for this purpose on the prescribed form or, if none, to the Participant’s estate. Such form shall be valid only if it was filed with the Company at the prescribed location before the Participant’s death. 
  

 4 

 SECTION 7. PLAN ACCOUNTS AND PURCHASE OF SHARES. 
  
 (a) Plan Accounts. The Company shall maintain a Plan Account on its books in the name of each Participant. Whenever
an amount is deducted from the Participant’s Compensation under the Plan, such amount shall be credited to the Participant’s Plan Account. Amounts credited to Plan Accounts shall not be trust funds and may be commingled with the
Company’s general assets and applied to general corporate purposes. No interest shall be credited to Plan Accounts. 
  
 (b) Purchase Price. The Purchase Price for each share of Stock purchased at the close of an Accumulation Period shall be the lower of: 

 
 (i) 85% of the Fair Market Value of such share on the
last trading day in such Accumulation Period; or 
  
 (ii) 85% of the Fair Market Value of such share on the last trading day before the commencement of the applicable Offering Period (as determined under Section 3(e)) or, in the case of the first Offering Period under the Plan, 85% of the
price at which one share of Stock is offered to the public in the IPO. 
  
 (c) Number of Shares Purchased. As of the last day of each Accumulation Period, each Participant shall be deemed to have elected to purchase the number of shares of Stock calculated in accordance with this Subsection (c), unless the
Participant has previously elected to withdraw from the Plan in accordance with Section 5(a). The amount then in the Participant’s Plan Account shall be divided by the Purchase Price, and the number of shares that results shall be purchased
from the Company with the funds in the Participant’s Plan Account. The foregoing notwithstanding, no Participant shall purchase more than 750 shares of Stock with respect to any Accumulation Period nor more than the amounts of Stock set forth
in Sections 8(b) and 13(a). The Committee may determine with respect to all Participants that any fractional share, as calculated under this Subsection (c), shall be (i) rounded down to the next lower whole share or (ii) credited as a fractional
share. 
  
 (d) Available Shares Insufficient. In the event
that the aggregate number of shares that all Participants elect to purchase during an Accumulation Period exceeds the maximum number of shares remaining available for issuance under Section 13(a), then the number of shares to which each Participant
is entitled shall be determined by multiplying the number of shares available for issuance by a fraction. The numerator of such fraction is the number of shares that such Participant has elected to purchase, and the denominator of such fraction is
the number of shares that all Participants have elected to purchase. 
  
 (e) Issuance of Stock. Certificates representing the shares of Stock purchased by a Participant under the Plan shall be issued to him or her as soon as reasonably practicable after the close of the applicable Accumulation Period,
except that the Committee may determine that such shares shall be held for each Participant’s benefit by a broker designated by the Committee (unless the Participant has elected that certificates be issued to him or her). Shares may be
registered in the name of the Participant or jointly in the name of the Participant and his or her spouse as joint tenants with right of survivorship or as community property. 
  

 5 

 (f) Tax Withholding. To the extent required by applicable federal, state, local or foreign law, a
Participant shall make arrangements satisfactory to the Company for the satisfaction of any withholding tax obligations that arise in connection with the Plan. The Company shall not be required to issue any shares of Stock under the Plan until such
obligations are satisfied. 
  
 (g) Unused Cash Balances. An
amount remaining in the Participant’s Plan Account that represents the Purchase Price for any fractional share shall be carried over in the Participant’s Plan Account to the next Accumulation Period. Any amount remaining in the
Participant’s Plan Account that represents the Purchase Price for whole shares that could not be purchased by reason of Subsection (c) above, Section 8(b) or Section 13(a) shall be refunded to the Participant in cash, without interest.

  
 (h) Stockholder Approval. Any other provision of the
Plan notwithstanding, no shares of Stock shall be purchased under the Plan unless and until the Company’s stockholders have approved the adoption of the Plan. 
  
 SECTION 8. LIMITATIONS ON STOCK OWNERSHIP. 
  

(a) Five Percent Limit. Any other provision of the Plan notwithstanding, no Participant shall be granted a right to purchase Stock under the
Plan if such Participant, immediately after his or her election to purchase such Stock, would own stock possessing more than 5% of the total combined voting power or value of all classes of stock of the Company or any parent or Subsidiary of the
Company. For purposes of this Subsection (a), the following rules shall apply: 
  
 (i) Ownership of stock shall be determined after applying the attribution rules of section 424(d) of the Code; 
  
 (ii) Each Participant shall be deemed to own any stock that
he or she has a right or option to purchase under this or any other plan; and 
  
 (iii) Each Participant shall be deemed to have the right to purchase 750 shares of Stock under this Plan with respect to each Accumulation Period. 
  
 (b) Dollar Limit. Any other provision of the Plan notwithstanding, no Participant shall purchase Stock with a Fair
Market Value in excess of the following limit: 
  
 (i) In the case of Stock purchased during an Offering Period that commenced in the current calendar year, the limit shall be equal to (A) $25,000 minus (B) the Fair Market Value of the Stock that the Participant previously purchased in the
current calendar year (under this Plan and all other employee stock purchase plans of the Company or any parent or Subsidiary of the Company). 
  
 (ii) In the case of Stock purchased during an Offering Period that commenced in the immediately preceding calendar year, the limit shall
be equal 

  

 6 

 
to (A) $50,000 minus (B) the Fair Market Value of the Stock that the Participant previously purchased (under this Plan and all other employee stock purchase
plans of the Company or any parent or Subsidiary of the Company) in the current calendar year and in the immediately preceding calendar year. 
  
 For purposes of this Subsection (b), the Fair Market Value of Stock shall be determined in each case as of the beginning of the Offering Period in which such Stock is
purchased. Employee stock purchase plans not described in section 423 of the Code shall be disregarded. If a Participant is precluded by this Subsection (b) from purchasing additional Stock under the Plan, then his or her employee contributions
shall automatically be discontinued and shall resume at the beginning of the earliest Accumulation Period ending in the next calendar year (if he or she then is an Eligible Employee). 
  
 SECTION 9. RIGHTS NOT TRANSFERABLE. 
  
 The rights of any Participant under the Plan, or any Participant’s interest in any Stock or moneys to which he or she may be entitled under the Plan,
shall not be transferable by voluntary or involuntary assignment or by operation of law, or in any other manner other than by beneficiary designation or the laws of descent and distribution. If a Participant in any manner attempts to transfer,
assign or otherwise encumber his or her rights or interest under the Plan, other than by beneficiary designation or the laws of descent and distribution, then such act shall be treated as an election by the Participant to withdraw from the Plan
under Section 5(a). 
  
 SECTION 10. NO RIGHTS AS AN EMPLOYEE. 

 
 Nothing in the Plan or in any right granted under the Plan shall confer
upon the Participant any right to continue in the employ of a Participating Company for any period of specific duration or interfere with or otherwise restrict in any way the rights of the Participating Companies or of the Participant, which rights
are hereby expressly reserved by each, to terminate his or her employment at any time and for any reason, with or without cause. 
  
 SECTION 11. NO RIGHTS AS A STOCKHOLDER. 
  
 A Participant shall have no rights as a stockholder with respect to any shares of Stock that he or she may have a right to purchase under the Plan until
such shares have been purchased on the last day of the applicable Accumulation Period. 
  
 SECTION 12. SECURITIES LAW REQUIREMENTS. 
  
 Shares of Stock shall not be issued under the Plan unless the issuance and delivery of such shares comply with (or are exempt from) all applicable requirements of law, including (without limitation) the Securities Act of 1933, as amended,
the rules and regulations promulgated thereunder, state securities laws and regulations, applicable foreign laws and the regulations of any stock exchange or other securities market on which the Company’s securities may then be traded.

  

 7 

 SECTION 13. STOCK OFFERED UNDER THE PLAN. 
  
 (a) Authorized Shares. The number of shares of Stock available for purchase under the Plan shall be 450,000 (subject
to adjustment pursuant to this Section 13). On January 1 of each year, commencing with January 1, 2006, the aggregate number of shares of Stock available for purchase during the life of the Plan shall automatically be increased by the lesser of (a)
200,000 shares of Stock or (b) 0.3% of the total number of shares of Stock then outstanding (subject to adjustment pursuant to this Section 13). 
  
 (b) Anti-Dilution Adjustments. The aggregate number of shares of Stock offered under the Plan, the 750-share limitation described in Section 7(c)
and the price of shares that any Participant has elected to purchase shall be adjusted proportionately for any increase or decrease in the number of outstanding shares of Stock resulting from a subdivision or consolidation of shares or the payment
of a stock dividend, any other increase or decrease in such shares effected without receipt or payment of consideration by the Company, the distribution of the shares of a Subsidiary to the Company’s stockholders or a similar event. 

 
 (c) Reorganizations. Any other provision of the Plan
notwithstanding, immediately prior to the effective time of a Corporate Reorganization, the Offering Period and Accumulation Period then in progress shall terminate and shares shall be purchased pursuant to Section 7, unless the Plan is continued or
assumed by the surviving corporation or its parent corporation. The Plan shall in no event be construed to restrict in any way the Company’s right to undertake a dissolution, liquidation, merger, consolidation or other reorganization.

  
 SECTION 14. AMENDMENT OR DISCONTINUANCE. 
  
 (a) General Rule. The Board shall have the right to amend,
suspend or terminate the Plan at any time and without notice. Except as provided in Section 13, any increase in the aggregate number of shares of Stock to be issued under the Plan shall be subject to approval by a vote of the stockholders of the
Company. In addition, any other amendment of the Plan shall be subject to approval by a vote of the stockholders of the Company to the extent required by an applicable law or regulation. The Plan shall terminate automatically 20 years after its
adoption by the Board, unless (a) the Plan is extended by the Board and (b) the extension is approved within 12 months by a vote of the stockholders of the Company. 
  
 (b) Impact on Purchase Price. This Subsection (b) shall apply in the event that (i) the Company’s stockholders
during an Accumulation Period approve an increase in the number of shares of Stock that may be issued under Section 13 and (ii) the aggregate number of shares to be purchased at the close of such Accumulation Period exceeds the number of shares that
remained available under Section 13 before such increase. In such event, the Purchase Price for each share of Stock purchased at the close of such Accumulation Period shall be the lower of: 
  
 (i) The higher of (A) 85% of the Fair Market Value of such
share on the last trading day before the commencement of the applicable Offering Period or, in the case of the first Offering Period under the Plan, 85% of the price at which one share of Stock is offered to the public in the IPO or (B) 85% of the
Fair 

  

 8 

 
Market Value of such share on the last trading day before the date when the Company’s stockholders approve such increase; or 
  
 (ii) 85% of the Fair Market Value of such share on the last
trading day in such Accumulation Period. 
  
 Immediately after the close of such
Accumulation Period, a new Offering Period shall commence for all Participants. 
  
 SECTION 15. DEFINITIONS. 
  
 (a)
“Accumulation Period” means a six-month period during which contributions may be made toward the purchase of Stock under the Plan, as determined pursuant to Section 3(b). 
  
 (b) “Board” means the Board of Directors of the Company, as constituted from time to time. 
  
 (c) “Code” means the Internal Revenue Code of 1986, as
amended. 
  
 (d) “Committee” means a committee of
the Board, as described in Section 2. 
  
 (e)
“Company” means Seven Networks, Inc., a Delaware corporation. 
  
 (f) “Compensation” means (i) the total compensation paid in cash to a Participant by a Participating Company, including salaries, wages, bonuses, incentive compensation, commissions, overtime pay and
shift premiums, plus (ii) any pre-tax contributions made by the Participant under section 401(k) or 125 of the Code. “Compensation” shall exclude all non-cash items, moving or relocation allowances, cost-of-living equalization payments,
car allowances, tuition reimbursements, imputed income attributable to cars or life insurance, severance pay, fringe benefits, contributions or benefits received under employee benefit plans, income attributable to the exercise of stock options, and
similar items. The Committee shall determine whether a particular item is included in Compensation. 
  
 (g) “Corporate Reorganization” means: 
  
 (i) The consummation of a merger or consolidation of the Company with or into another entity or any other corporate reorganization; or

  
 (ii) The sale, transfer or other disposition
of all or substantially all of the Company’s assets or the complete liquidation or dissolution of the Company. 
  
 (h) “Eligible Employee” means any employee of a Participating Company whose customary employment is for more than five months per
calendar year and for more than 20 hours per week. The foregoing notwithstanding, an individual shall not be considered an Eligible Employee if his or her participation in the Plan is prohibited by the law of any country which has jurisdiction over
him or her or if he or she is subject to a collective bargaining agreement that does not provide for participation in the Plan. 
  

 9 

 (i) “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
  
 (j) “Fair Market Value” means the market price of Stock,
determined by the Committee as follows: 
  
 (i)
If the Stock was traded on The Nasdaq National Market or The Nasdaq SmallCap Market on the date in question, then the Fair Market Value shall be equal to the last-transaction price quoted for such date by such Market; 
  
 (ii) If the Stock was traded on a stock exchange on the date
in question, then the Fair Market Value shall be equal to the closing price reported by the applicable composite transactions report for such date; or 
  
 (iii) If none of the foregoing provisions is applicable, then the Committee shall determine the Fair Market Value in good faith on such
basis as it deems appropriate. 
  
 Whenever possible, the determination of Fair
Market Value by the Committee shall be based on the prices reported in The Wall Street Journal or as reported directly to the Company by Nasdaq or a stock exchange. Such determination shall be conclusive and binding on all persons.

  
 (k) “IPO” means the initial offering of Stock
to the public pursuant to a registration statement filed by the Company with the Securities and Exchange Commission. 
  
 (l) “Offering Period” means a 12-month period with respect to which the right to purchase Stock may be granted under the Plan, as
determined pursuant to Section 3(a). 
  
 (m)
“Participant” means an Eligible Employee who participates in the Plan, as provided in Section 3. 
  
 (n) “Participating Company” means (i) the Company and (ii) each present or future Subsidiary designated by the Committee as a
Participating Company. 
  
 (o) “Plan” means this
Seven Networks, Inc. 2004 Employee Stock Purchase Plan, as it may be amended from time to time. 
  
 (p) “Plan Account” means the account established for each Participant pursuant to Section 7(a). 
  
 (q) “Purchase Price” means the price at which Participants
may purchase Stock under the Plan, as determined pursuant to Section 7(b). 
  
 (r) “Stock” means the Common Stock of the Company. 
  
 (s) “Subsidiary” means any corporation (other than the Company) in an unbroken chain of corporations beginning with the Company, if each
of the corporations other than the last corporation in the unbroken chain owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain. 
  

 10

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