Document:

EX-10.2

 EXHIBIT 10.2 
 VIOLIN MEMORY, INC. 

AMENDED AND RESTATED 

2005 STOCK PLAN 
 ADOPTED ON APRIL 5, 2010 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
			
	 SECTION 1.
	 	 ESTABLISHMENT AND PURPOSE
	  	 	1	  
			
	 SECTION 2.
	 	 ADMINISTRATION
	  	 	1	  
	 (a)
	 	 Committees of the Board of Directors
	  	 	1	  
	 (b)
	 	 Authority of the Board of Directors
	  	 	1	  
			
	 SECTION 3.
	 	 ELIGIBILITY
	  	 	1	  
	 (a)
	 	 General Rule
	  	 	1	  
	 (b)
	 	 Ten-Percent Stockholders
	  	 	1	  
			
	 SECTION 4.
	 	 STOCK SUBJECT TO PLAN
	  	 	2	  
	 (a)
	 	 Basic Limitation
	  	 	2	  
	 (b)
	 	 Additional Shares
	  	 	2	  
			
	 SECTION 5.
	 	 TERMS AND CONDITIONS OF AWARDS OR SALES
	  	 	2	  
	 (a)
	 	 Stock Grant or Purchase Agreement
	  	 	2	  
	 (b)
	 	 Duration of Offers and Nontransferability of Rights
	  	 	2	  
	 (c)
	 	 Purchase Price
	  	 	2	  
	 (d)
	 	 Withholding Taxes
	  	 	2	  
	 (e)
	 	 Transfer Restrictions and Forfeiture Conditions
	  	 	3	  
			
	 SECTION 6.
	 	 TERMS AND CONDITIONS OF OPTIONS
	  	 	3	  
	 (a)
	 	 Stock Option Agreement
	  	 	3	  
	 (b)
	 	 Number of Shares
	  	 	3	  
	 (c)
	 	 Exercise Price
	  	 	3	  
	 (d)
	 	 Exercisability
	  	 	3	  
	 (e)
	 	 Basic Term
	  	 	3	  
	 (f)
	 	 Termination of Service (Except by Death)
	  	 	3	  
	 (g)
	 	 Leaves of Absence
	  	 	4	  
	 (h)
	 	 Death of Optionee
	  	 	4	  
	 (i)
	 	 Post-Exercise Restrictions on Transfer of Shares
	  	 	5	  
	 (j)
	 	 Pre-Exercise Restrictions on Transfer of Options or Shares
	  	 	5	  
	 (k)
	 	 Withholding Taxes
	  	 	5	  
	 (1)
	 	 No Rights as a Stockholder
	  	 	5	  
	 (m)
	 	 Modification, Extension and Assumption of Options
	  	 	5	  
	 (n)
	 	 Company’s Right to Cancel Certain Options
	  	 	6	  
			
	 SECTION 7.
	 	 PAYMENT FOR SHARES
	  	 	6	  
	 (a)
	 	 General Rule
	  	 	6	  
	 (b)
	 	 Services Rendered
	  	 	6	  
	 (c)
	 	 Promissory Note
	  	 	6	  
	 (d)
	 	 Surrender of Stock
	  	 	6	  
	 (e)
	 	 Exercise/Sale
	  	 	6	  
	 (f)
	 	 Other Forms of Payment
	  	 	7	  

  
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	 SECTION 8.
	 	 ADJUSTMENT OF SHARES
	  	 	7	  
	 (a)
	 	 General
	  	 	7	  
	 (b)
	 	 Mergers and Consolidations
	  	 	7	  
	 (c)
	 	 Reservation of Rights
	  	 	8	  
			
	 SECTION 9.
	 	 PRE-EXERCISE INFORMATION REQUIREMENT
	  	 	8	  
	 (a)
	 	 Application of Requirement
	  	 	8	  
	 (b)
	 	 Scope of Requirement
	  	 	9	  
			
	 SECTION 10.
	 	 MISCELLANEOUS PROVISIONS
	  	 	9	  
	 (a)
	 	 Securities Law Requirements
	  	 	9	  
	 (b)
	 	 No Retention Rights
	  	 	9	  
	 (c)
	 	 Treatment as Compensation
	  	 	9	  
	 (d)
	 	 Governing Law
	  	 	9	  
			
	 SECTION 11.
	 	 DURATION AND AMENDMENTS
	  	 	9	  
	 (a)
	 	 Term of the Plan
	  	 	9	  
	 (b)
	 	 Right to Amend or Terminate the Plan
	  	 	10	  
	 (c)
	 	 Effect of Amendment or Termination
	  	 	10	  
			
	 SECTION 12.
	 	 DEFINITIONS
	  	 	10	  

  
 ii 

 VIOLIN MEMORY, INC. 

AMENDED AND RESTATED 2005 STOCK PLAN 

 

	SECTION 1.	ESTABLISHMENT AND PURPOSE. 

 The purpose of the Plan is to offer selected persons an opportunity to acquire a proprietary interest in the success of the Company, or to increase such interest, by acquiring Shares of the Company’s
Stock. The Plan provides both for the direct award or sale of Shares and for the grant of Options to purchase Shares. Options granted under the Plan may include Nonstatutory Options as well as ISOs intended to qualify under Section 422 of the
Code. 
 Capitalized terms are defined in Section 12. 

 

	SECTION 2.	ADMINISTRATION. 

(a) Committees of the Board of Directors. The Plan may be administered by one or more Committees. Each Committee shall consist of
one or more members of the Board of Directors who have been appointed by the Board of Directors. Each Committee shall have such authority and be responsible for such functions as the Board of Directors has assigned to it. If no Committee has been
appointed, the entire Board of Directors shall administer the Plan. Any reference to the Board of Directors in the Plan shall be construed as a reference to the Committee (if any) to whom the Board of Directors has assigned a particular function.

 (b) Authority of the Board of Directors. Subject to the provisions of the Plan, the Board of Directors shall have full
authority and discretion to take any actions it deems necessary or advisable for the administration of the Plan. All decisions, interpretations and other actions of the Board of Directors shall be final and binding on all Purchasers, all Optionees
and all persons deriving their rights from a Purchaser or Optionee. 
  

	SECTION 3.	ELIGIBILITY. 

(a) General Rule. Only Employees, Outside Directors and Consultants shall be eligible for the grant of Nonstatutory Options or the
direct award or sale of Shares. Only Employees shall be eligible for the grant of ISOs. 
 (b) Ten-Percent Stockholders.
A person who owns more than 10% of the total combined voting power of all classes of outstanding stock of the Company, its Parent or any of its Subsidiaries shall not be eligible for the grant of an ISO unless (i) the Exercise Price is at least
110% of the Fair Market Value of a Share on the Date of Grant and (ii) such ISO by its terms is not exercisable after the expiration of five years from the Date of Grant. For purposes of this Subsection (b), in determining stock ownership, the
attribution rules of Section 424(d) of the Code shall be applied. 

  
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	SECTION 4.	STOCK SUBJECT TO PLAN. 

 (a) Basic Limitation. Not more than 24,959,192 Shares may be issued under the Plan, subject to Subsection (b) below and Section 8(a). All of these Shares may be issued upon the exercise
of ISOs. The number of Shares that are subject to Options or other rights outstanding at any time under the Plan shall not exceed the number of Shares that then remain available for issuance under the Plan. The Company, during the term of the Plan,
shall at all times reserve and keep available sufficient Shares to satisfy the requirements of the Plan. Shares offered under the Plan may be authorized but unissued Shares or treasury Shares. 

(b) Additional Shares. In the event that Shares previously issued under the Plan are reacquired by the Company, such Shares shall
be added to the number of Shares then available for issuance under the Plan. In the event that Shares that otherwise would have been issuable under the Plan are withheld by the Company in payment of the Purchase Price, Exercise Price or withholding
taxes, such Shares shall remain available for issuance under the Plan. In the event that an outstanding Option or other right for any reason expires or is canceled, the Shares allocable to the unexercised portion of such Option or other right shall
be added to the number of Shares then available for issuance under the Plan. 
  

	SECTION 5.	TERMS AND CONDITIONS OF AWARDS OR SALES. 

 (a) Stock Grant or Purchase Agreement. Each award of Shares under the Plan shall be evidenced by a Stock Grant Agreement between the Grantee and the Company. Each sale of Shares under the Plan
(other than upon exercise of an Option) shall be evidenced by a Stock Purchase Agreement between the Purchaser and the Company. Such award or sale 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 of Directors deems appropriate for inclusion in a Stock Grant Agreement or Stock Purchase Agreement. The provisions of the various Stock Grant Agreements and Stock
Purchase Agreements entered into under the Plan need not be identical. 
 (b) Duration of Offers and Nontransferability of
Rights. Any right to purchase Shares under the Plan (other than an Option) shall automatically expire if not exercised by the Purchaser within 30 days after the grant of such right was communicated to the Purchaser by the Company. Such right
shall not be transferable and shall be exercisable only by the Purchaser to whom such right was granted. 
 (c) Purchase
Price. The Board of Directors shall determine the Purchase Price of Shares to be offered under the Plan at its sole discretion. The Purchase Price shall be payable in a form described in Section 7. 

(d) Withholding Taxes. As a condition to the award, purchase, vesting or transfer of Shares, the Grantee or Purchaser shall make
such arrangements as the Board of Directors may require for the satisfaction of any federal, state, local or foreign withholding tax obligations that may arise in connection with such event. 

  
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 (e) Transfer Restrictions and Forfeiture Conditions. Any Shares awarded or sold
under the Plan shall be subject to such special forfeiture conditions, rights of repurchase, rights of first refusal and other transfer restrictions as the Board of Directors may determine. Such restrictions shall be set forth in the applicable
Stock Grant Agreement or Stock Purchase Agreement and shall apply in addition to any restrictions that may apply to holders of Shares generally. 
  

	SECTION 6.	TERMS AND CONDITIONS OF OPTIONS. 

 (a) 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. The Option 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 of Directors deems appropriate for inclusion in a Stock Option Agreement. The provisions of the
various Stock Option Agreements entered into under the Plan need not be identical. 
 (b) Number of Shares. Each Stock
Option Agreement shall specify the number of Shares that are subject to the Option and shall provide for the adjustment of such number in accordance with Section 8. The Stock Option Agreement shall also specify whether the Option is an ISO or a
Nonstatutory Option. 
 (c) Exercise Price. Each Stock Option Agreement shall specify the Exercise Price. The Exercise
Price of an Option shall not be less than 100% of the Fair Market Value of a Share on the Date of Grant, and in the case of an ISO a higher percentage may be required by Section 3(b). Subject to the preceding sentence, the Exercise Price shall
be determined by the Board of Directors at its sole discretion. The Exercise Price shall be payable in a form described in Section 7. This Subsection (c) shall not apply to an Option granted pursuant to an assumption of, or substitution
for, another option in a manner that complies with Section 424(a) of the Code (whether or not the Option is an ISO). 

(d) Exercisability. Each Stock Option Agreement shall specify the date when all or any installment of the Option is to become
exercisable. No Option shall be exercisable unless the Optionee (i) has delivered an executed copy of the Stock Option Agreement to the Company or (ii) otherwise agrees to be bound by the terms of the Stock Option Agreement. The Board of
Directors shall determine the exercisability provisions of the Stock Option Agreement at its sole discretion. All of an Optionee’s Options shall become exercisable in full if Section 8(b)(iv) applies. 

(e) Basic Term. The Stock Option Agreement shall specify the term of the Option. The term shall not exceed 10 years from the Date
of Grant, and in the case of an ISO a shorter term may be required by Section 3(b). Subject to the preceding sentence, the Board of Directors at its sole discretion shall determine when an Option is to expire. 

(f) Termination of Service (Except by Death). If an Optionee’s Service terminates for any reason other than the
Optionee’s death, then the Optionee’s Options shall expire on the earliest of the following dates: 

  
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 (i) The expiration date determined pursuant to Subsection (e) above;

 (ii) The date three months after the termination of the Optionee’s Service for any reason other than
Disability, or such earlier or later date as the Board of Directors may determine (but in no event earlier than 30 days after the termination of the Optionee’s Service); or 

(iii) The date six months after the termination of the Optionee’s Service by reason of Disability, or such later date
as the Board of Directors may determine. 
 The Optionee may exercise all or part of the Optionee’s Options at any time before the
expiration of such Options under the preceding sentence, but only to the extent that such Options had become exercisable before the Optionee’s Service terminated (or became exercisable as a result of the termination) and the underlying Shares
had vested before the Optionee’s Service terminated (or vested as a result of the termination). The balance of such Options shall lapse when the Optionee’s Service terminates. In the event that the Optionee dies after the termination of
the Optionee’s Service but before the expiration of the Optionee’s Options, all or part of such Options may be exercised (prior to expiration) by the executors or administrators of the Optionee’s estate or by any person who has
acquired such Options directly from the Optionee by beneficiary designation, bequest or inheritance, but only to the extent that such Options had become exercisable before the Optionee’s Service terminated (or became exercisable as a result of
the termination) and the underlying Shares had vested before the Optionee’s Service terminated (or vested as a result of the termination). 
 (g) Leaves of Absence. For purposes of Subsection (f) above, Service shall be deemed to continue while the Optionee is on a bona fide leave of absence, if such leave was approved by the
Company in writing and if continued crediting of Service for this purpose is expressly required by the terms of such leave or by applicable law (as determined by the Company). 
 (h) Death of Optionee. If an Optionee dies while the Optionee is in Service, then the Optionee’s Options shall expire on the earlier of the following dates: 

(i) The expiration date determined pursuant to Subsection (e) above; or 

(ii) The date 12 months after the Optionee’s death, or such earlier or later date as the Board of Directors may
determine (but in no event earlier than six months after the Optionee’s death). 
 All or part of the Optionee’s Options may be
exercised at any time before the expiration of such Options under the preceding sentence by the executors or administrators of the Optionee’s estate or by any person who has acquired such Options directly from the Optionee by beneficiary
designation, bequest or inheritance, but only to the extent that such Options had become exercisable before the Optionee’s death (or became exercisable as a result of the death) and the 

  
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underlying Shares had vested before the Optionee’s death (or vested as a result of the Optionee’s death). The balance of such Options shall lapse when the Optionee dies. 

(i) Post-Exercise Restrictions on Transfer of Shares. Any Shares issued upon exercise of an Option shall be subject to such
special forfeiture conditions, rights of repurchase, rights of first refusal and other transfer restrictions as the Board of Directors may determine. Such restrictions shall be set forth in the applicable Stock Option Agreement and shall apply in
addition to any restrictions that may apply to holders of Shares generally. 
 (j) Pre-Exercise Restrictions on Transfer of
Options or Shares. An Option shall be transferable by the Optionee only by (i) a beneficiary designation, (ii) a will or (iii) the laws of descent and distribution, except as provided in the next sentence. If the applicable Stock
Option Agreement so provides, a Nonstatutory Option shall also be transferable by gift or domestic relations order to a Family Member of the Optionee. An ISO may be exercised during the lifetime of the Optionee only by the Optionee or by the
Optionee’s guardian or legal representative. In addition, an Option shall comply with all conditions of Rule 12h-l(f)(l) under the Exchange Act until the Company becomes subject to the reporting requirements of Section 13 or 15(d) of the
Exchange Act. Such conditions include, without limitation, the transferability restrictions set forth in Rule 12h-l(f)(l)(iv) and (v) under the Exchange Act, which shall apply to an Option and, prior to exercise, to the Shares to be issued upon
exercise of such Option during the period commencing on the Date of Grant and ending on the earlier of (i) the date when the Company becomes subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act or (ii)the date
when the Company makes a determination that it will cease to rely on the exemption afforded by Rule 12h-1(f)(1) under the Exchange Act. During such period, an Option and, prior to exercise, the Shares to be issued upon exercise of such Option shall
be restricted as to any pledge, hypothecation or other transfer by the Optionee, including any short position, any “put equivalent position” (as defined in Rule 16a-1(h) under the Exchange Act) or any “call equivalent position”
(as defined in Rule 16a-1(b) under the Exchange Act). 
 (k) Withholding Taxes. As a condition to the grant or exercise
of an Option, the Optionee shall make such arrangements as the Board of Directors may require for the satisfaction of any federal, state, local or foreign withholding tax obligations that may arise in connection with such grant or exercise. The
Optionee shall also make such arrangements as the Board of Directors may require for the satisfaction of any federal, state, local or foreign withholding tax obligations that may arise in connection with the vesting or transfer of Shares acquired by
exercising an Option or any similar event. 
 (1) No Rights as a Stockholder. An Optionee, or a transferee of an
Optionee, shall have no rights as a stockholder with respect to any Shares covered by the Optionee’s Option until such person becomes entitled to receive such Shares by filing a notice of exercise and paying the Exercise Price pursuant to the
terms of such Option. 
 (m) Modification, Extension and Assumption of Options. Within the limitations of the Plan, the
Board of Directors may modify, extend or assume outstanding Options or may accept the cancellation of outstanding Options (whether granted by the Company or another issuer) in return for the grant of new Options for the same or a different number of

  
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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, impair the Optionee’s rights or
increase the Optionee’s obligations under such Option. 
 (n) Company’s Right to Cancel Certain Options. Any
other provision of the Plan or a Stock Option Agreement notwithstanding, the Company shall have the right at any time to cancel an Option that was not granted in compliance with Rule 701 under the Securities Act. Prior to canceling such Option, the
Company shall give the Optionee not less than 30 days’ notice in writing. If the Company elects to cancel such Option, it shall deliver to the Optionee consideration with an aggregate Fair Market Value equal to the excess of (i) the Fair
Market Value of the Shares subject to such Option as of the time of the cancellation over (ii) the Exercise Price of such Option. The consideration may be delivered in the form of cash or cash equivalents, in the form of Shares, or a
combination of both. If the consideration would be a negative amount, such Option may be cancelled without the delivery of any consideration. 
  

	SECTION 7.	PAYMENT FOR SHARES. 

(a) General Rule. The entire Purchase Price or Exercise Price of Shares issued under the Plan shall be payable in cash or cash
equivalents at the time when such Shares are purchased, except as otherwise provided in this Section 7. 
 (b) Services
Rendered. At the discretion of the Board of Directors, Shares may be awarded under the Plan in consideration of services rendered to the Company, a Parent or a Subsidiary prior to the award. 

(c) Promissory Note. At the discretion of the Board of Directors, all or a portion of the Purchase Price or Exercise Price (as the
case may be) of Shares issued under the Plan may be paid with a full-recourse promissory note. The Shares shall be pledged as security for payment of the principal amount of the promissory note and interest thereon. The interest rate payable under
the terms of the promissory note shall not be less than the minimum rate (if any) required to avoid the imputation of additional interest under the Code. Subject to the foregoing, the Board of Directors (at its sole discretion) shall specify the
term, interest rate, amortization requirements (if any) and other provisions of such note. 
 (d) Surrender of Stock. At
the discretion of the Board of Directors, all or any part of the Exercise Price may be paid by surrendering, or attesting to the ownership of, Shares that are already owned by the Optionee. Such Shares shall be surrendered to the Company in good
form for transfer and shall be valued at their Fair Market Value as of the date when the Option is exercised. 
 (e)
Exercise/Sale. To the extent that a Stock Option Agreement so provides, and if Stock is publicly traded, all or part of the Exercise Price and any withholding taxes may be paid by the delivery (on a form prescribed by the Company) of an
irrevocable direction to a securities broker approved by the Company to sell Shares and to deliver all or part of the sales proceeds to the Company. 

  
 6 

 (f) Other Forms of Payment. To the extent that a Stock Purchase Agreement or Stock
Option Agreement so provides, the Purchase Price or Exercise Price of Shares issued under the Plan may be paid in any other form permitted by the Delaware General Corporation Law, as amended. 

 

	SECTION 8.	ADJUSTMENT OF SHARES. 

 (a) General. In the event of a subdivision of the outstanding Stock, a declaration of a dividend payable in Shares, a combination or consolidation of the outstanding Stock into a lesser number of
Shares, a reclassification, or any other increase or decrease in the number of issued shares of Stock effected without receipt of consideration by the Company, proportionate adjustments shall automatically be made in each of (i) the number of
Shares available for future grants under Section 4, (ii) the number of Shares covered by each outstanding Option and (iii) the Exercise Price under each outstanding Option. In the event of a declaration of an extraordinary dividend
payable in a form other than Shares in an amount that has a material effect on the Fair Market Value of the Stock, a recapitalization, a spin-off, or a similar occurrence, the Board of Directors at its sole discretion may make appropriate
adjustments in one or more of (i) the number of Shares available for future grants under Section 4, (ii) the number of Shares covered by each outstanding Option or (iii) the Exercise Price under each outstanding Option; provided,
however, that the Board of Directors shall in any event make such adjustments as may be required by Section 25102(o) of the California Corporations Code. 
 (b) Mergers and Consolidations. In the event that the Company is a party to a merger or consolidation, all Shares acquired under the Plan and all Options shall be subject to the agreement of merger
or consolidation. Such agreement need not treat all Options in an identical manner, and it shall provide for one or more of the following with respect to each Option: 

(i) The continuation of the Option by the Company (if the Company is the surviving corporation). 

(ii) The assumption of the Option by the surviving corporation or its parent in a manner that complies with
Section 424(a) of the Code (whether or not the Option is an ISO). 
 (iii) The substitution by the surviving
corporation or its parent of a new option for the Option in a manner that complies with Section 424(a) of the Code (whether or not the Option is an ISO). 
 (iv) Full exercisability of the Option and full vesting of the Shares subject to the Option, followed by the cancellation of the Option. The full exercisability of the Option and full vesting of the
Shares subject to the Option may be contingent on the closing of such merger or consolidation. The Optionee shall be able to exercise the Option during a period of not less than five full business days preceding the effective date of such merger or
consolidation, unless (A) a shorter period is required to permit a timely closing of such merger or 

  
 7 

 
consolidation and (B) such shorter period still offers the Optionee a reasonable opportunity to exercise the Option. Any exercise of the Option during such period may be contingent on the
closing of such merger or consolidation. 
 (v) The cancellation of the Option and a payment to the Optionee
equal to the excess of (A) the Fair Market Value of the Shares subject to the Option as of the effective date of such merger or consolidation over (B) the Exercise Price of the Option. 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. Subject to Section 409A of the Code, such payment may be made in installments and may be deferred until the date or
dates when the Option would have become exercisable or such Shares would have vested. The amount of such payment initially shall be calculated without regard to whether or not the Option is then exercisable or such Shares are then vested. However,
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 the Option would have become exercisable or such
Shares would have vested. In addition, any escrow, holdback, earnout or similar provisions in the agreement of merger or consolidation may apply to such payment to the same extent and in the same manner as such provisions apply to the holders of
Shares. If the Exercise Price of the Shares subject to the Option exceeds the Fair Market Value of such Shares, then the Option may be cancelled without making a payment to the Optionee. For purposes of this Paragraph (v), the Fair Market Value of
any security shall be determined without regard to any vesting conditions that may apply to such security. 
 (c) Reservation
of Rights. Except as provided in this Section 8, a Grantee, Purchaser or Optionee shall have no rights by reason of (i) any subdivision or consolidation of shares of stock of any class, (ii) the payment of any dividend or
(iii) any other increase or decrease in the number of shares of stock of any class. Any issuance by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, shall not affect, and no adjustment by
reason thereof shall be made with respect to, the number or Exercise Price of Shares subject to an Option. The grant of an Option 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 or consolidate or to dissolve, liquidate, sell or transfer all or any part of its business or assets. 

 

	SECTION 9.	PRE-EXERCISE INFORMATION REQUIREMENT. 

 (a) Application of Requirement. This Section 9 shall apply only during a period that (i) commences when the Company begins to rely on the exemption described in Rule 12h-1(f)(1) under the
Exchange Act, as determined by the Company in its sole discretion, and (ii) ends on the earlier of (A) the date when the Company ceases to rely on such exemption, as determined by the Company in its sole discretion, or (B) the date
when the Company becomes subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act. In addition, 

  
 8 

 
this Section 9 shall in no event apply to an Optionee after he or she has fully exercised all of his or her Options. 
 (b) Scope of Requirement. The Company shall provide to each Optionee the information described in Rule 701(e)(3), (4) and (5) under the Securities Act. Such information shall be
provided at six-month intervals, and the financial statements included in such information shall not be more than 180 days old. The foregoing notwithstanding, the Company shall not be required to provide such information unless the Optionee has
agreed in writing, on a form prescribed by the Company, to keep such information confidential. 
  

	SECTION 10.	MISCELLANEOUS PROVISIONS. 

(a) Securities Law Requirements. Shares 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, 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. The Company shall not be liable for a failure to issue Shares that is attributable to such requirements. 

(b) No Retention Rights. Nothing in the Plan or in any right or Option granted under the Plan shall confer upon the Grantee,
Purchaser or Optionee 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 Company (or any Parent or Subsidiary employing or retaining the Grantee, Purchaser or
Optionee) or of the Grantee, Purchaser or Optionee, 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. 

(c) Treatment as Compensation. Any compensation that an individual earns or is deemed to earn under this Plan shall not be
considered a part of his or her compensation for purposes of calculating contributions, accruals or benefits under any other plan or program that is maintained or funded by the Company, a Parent or a Subsidiary. 

(d) Governing Law. The Plan and all awards, sales and grants under the Plan shall be governed by, and construed in accordance
with, the laws of the State of Delaware, as such laws are applied to contracts entered into and performed in such State. 
  

	SECTION 11.	DURATION AND AMENDMENTS. 

(a) Term of the Plan. The Plan, as set forth herein, shall become effective on the date of its adoption by the Board of Directors,
subject to the approval of the Company’s stockholders. If the stockholders fail to approve the Plan within 12 months after its adoption by the Board of Directors, then any grants, exercises or sales that have already occurred under the Plan
shall be rescinded and no additional grants, exercises or sales shall thereafter be made under the Plan. The Plan shall terminate automatically 10 years after the later of (i) the date when the Board of Directors adopted the Plan or
(ii) the date when the Board of Directors approved the most recent increase in the number of Shares reserved under Section 4 that was also approved by 

  
 9 

 
the Company’s stockholders. The Plan may be terminated on any earlier date pursuant to Subsection (b) below. 
 (b) Right to Amend or Terminate the Plan. The Board of Directors may amend, suspend or terminate the Plan at any time and for any reason; provided, however, that any amendment of the Plan shall be
subject to the approval of the Company’s stockholders if it (i) increases the number of Shares available for issuance under the Plan (except as provided in Section 8) or (ii) materially changes the class of persons who are eligible
for the grant of ISOs. Stockholder approval shall not be required for any other amendment of the Plan. If the stockholders fail to approve an increase in the number of Shares reserved under Section 4 within 12 months after its adoption by the
Board of Directors, then any grants, exercises or sales that have already occurred in reliance on such increase shall be rescinded and no additional grants, exercises or sales shall thereafter be made in reliance on such increase. 

(c) Effect of Amendment or Termination. No Shares shall be issued or sold under the Plan after the termination thereof, except
upon exercise of an Option (or any other right to purchase Shares) granted under the Plan prior to such termination. The termination of the Plan, or any amendment thereof, shall not affect any Share previously issued or any Option previously granted
under the Plan. 
  

	SECTION 12.	DEFINITIONS. 

 (a)
“Board of Directors” shall mean the Board of Directors of the Company, as constituted from time to time. 
 (b)
“Code” shall mean the Internal Revenue Code of 1986, as amended. 
 (c) “Committee” shall mean
a committee of the Board of Directors, as described in Section 2(a). 
 (d) “Company” shall mean Violin
Memory, Inc., a Delaware corporation. 
 (e) “Consultant” shall mean a person who performs bona fide services
for the Company, a Parent or a Subsidiary as a consultant or advisor, excluding Employees and Outside Directors. 
 (f)
“Date of Grant” shall mean the date of grant specified in the applicable Stock Option Agreement, which date shall be the later of (i) the date on which the Board of Directors resolved to grant the Option or (ii) the first
day of the Optionee’s Service. 
 (g) “Disability” shall mean that the Optionee is unable to engage in any
substantial gainful activity by reason of any medically determinable physical or mental impairment. 
 (h)
“Employee” shall mean any individual who is a common-law employee of the Company, a Parent or a Subsidiary. 

  
 10 

 (i) “Exchange Act” shall mean the Securities Exchange Act of 1934, as
amended. 
 (j) “Exercise Price” shall mean the amount for which one Share may be purchased upon exercise of an
Option, as specified by the Board of Directors in the applicable Stock Option Agreement. 
 (k) “Fair Market
Value” shall mean the fair market value of a Share, as determined by the Board of Directors in good faith. Such determination shall be conclusive and binding on all persons. 

(l) “Family Member” shall mean (i) any child, stepchild, grandchild, parent, stepparent, grandparent, spouse,
former spouse, sibling, niece, nephew, mother-in-law, father-in- law, son-in-law, daughter-in-law, brother-in-law or sister-in-law, including adoptive relationships, (ii) any person sharing the Optionee’s household (other than a tenant or
employee), (iii) a trust in which persons described in Clause (i) or (ii) have more than 50% of the beneficial interest, (iv) a foundation in which persons described in Clause (i) or (ii) or the Optionee control the
management of assets and (v) any other entity in which persons described in Clause (i) or (ii) or the Optionee own more than 50% of the voting interests. 
 (m) “Grantee” shall mean a person to whom the Board of Directors has awarded Shares under the Plan. 
 (n) “ISO” shall mean an employee incentive stock option described in Section 422(b) of the Code. 
 (o) “Nonstatutory Option” shall mean a stock option not described in Sections 422(b) or 423(b) of the Code. 
 (p) “Option” shall mean an ISO or Nonstatutory Option granted under the Plan and entitling the holder to purchase Shares. 

(q) “Optionee” shall mean a person who holds an Option. 

(r) “Outside Director” shall mean a member of the Board of Directors who is not an Employee. 

(s) “Parent” shall mean 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 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. 
 (t)
“Plan” shall mean this Violin Memory, Inc. Amended and Restated 2005 Stock Plan. 

  
 11 

 (u) “Purchase Price” shall mean the consideration for which one Share may
be acquired under the Plan (other than upon exercise of an Option), as specified by the Board of Directors. 
 (v)
“Purchaser” shall mean a person to whom the Board of Directors has offered the right to purchase Shares under the Plan (other than upon exercise of an Option). 

(w) “Securities Act” shall mean the Securities Act of 1933, as amended. 

(x) “Service” shall mean service as an Employee, Outside Director or Consultant. 

(y) “Share” shall mean one share of Stock, as adjusted in accordance with Section 8 (if applicable). 

(z) “Stock” shall mean the Common Stock of the Company. 

(aa) “Stock Grant Agreement” shall mean the agreement between the Company and a Grantee who is awarded Shares under the
Plan that contains the terms, conditions and restrictions pertaining to the award of such Shares. 
 (bb) “Stock Option
Agreement” shall mean the agreement between the Company and an Optionee that contains the terms, conditions and restrictions pertaining to the Optionee’s Option. 
 (cc) “Stock Purchase Agreement” shall mean the agreement between the Company and a Purchaser who purchases Shares under the Plan that contains the terms, conditions and restrictions
pertaining to the purchase of such Shares. 
 (dd) “Subsidiary” shall mean 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. 

  
 12 

 VIOLIN MEMORY, INC. 2005
STOCK PLAN 
 NOTICE OF STOCK
OPTION GRANT 
 You have been granted the following option to purchase shares of the Common
Stock of Violin Memory, Inc. (the “Company”): 
  

					
	Name of Optionee:	  	  
	 	
			
	Total Number of Shares:	  	  
	 	
			
	Type of Option:	  	Nonstatutory Stock Option (NSO)	 	
			
	Exercise Price Per Share:	  	  
	 	
			
	Date of Grant:	  	  
	 	
		
	Date Exercisable:	  	This option may be exercised at any time after the Date of Grant for all or any part of the Shares subject to this option.
			
	Vesting Commencement Date:	  	  
	 	
		
	Vesting Schedule:	  	The Right of Repurchase shall lapse with respect to 1/24th of the Shares subject to this option when the Optionee completes each month of continuous Service after the Vesting
Commencement Date.
		
	Expiration Date:	  	                    . This option expires earlier if the
Optionee’s Service terminates earlier, as provided in Section 6 of the Stock Option Agreement.

 By your signature and the signature of the Company’s representative below, you and the Company agree that this
option is granted under and governed by the terms and conditions of the 2005 Stock Plan and the Stock Option Agreement, both of which are attached to and made a part of this document. 

 

							
	OPTIONEE:	 		 	VIOLIN MEMORY, INC.
				
	  
	 		 	By:	 	  

				
	Name:	 		 	Title:	 	CFO

 THE OPTION GRANTED PURSUANT TO THIS AGREEMENT AND THE SHARES ISSUABLE UPON THE EXERCISE THEREOF HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES 

 
ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, PLEDGED, OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION THEREOF UNDER SUCH ACT OR AN OPINION OF COUNSEL, SATISFACTORY TO THE COMPANY AND
ITS COUNSEL, THAT SUCH REGISTRATION IS NOT REQUIRED. 
 VIOLIN MEMORY, INC.
2005 STOCK PLAN: 
 STOCK OPTION AGREEMENT

  

	SECTION 1.	GRANT OF OPTION. 

 (a)
Option. On the terms and conditions set forth in the Notice of Stock Option Grant and this Agreement, the Company grants to the Optionee on the Date of Grant the option to purchase at the Exercise Price the number of Shares set forth in the
Notice of Stock Option Grant. The Exercise Price is agreed to be at least 100% of the Fair Market Value per Share on the Date of Grant (110% of Fair Market Value if this option is designated as an ISO in the Notice of Stock Option Grant and
Section 3(b) of the Plan applies). This option is intended to be an ISO or an NSO, as provided in the Notice of Stock Option Grant. 
 (b) $100,000 Limitation. Even if this option is designated as an ISO in the Notice of Stock Option Grant, it shall be deemed to be an NSO to the extent (and only to the extent) required by the
$100,000 annual limitation under Section 422(d) of the Code. 
 (c) Stock Plan and Defined Terms. This option is
granted pursuant to the Plan, a copy of which the Optionee acknowledges having received. The provisions of the Plan are incorporated into this Agreement by this reference. Capitalized terms are defined in Section 14 of this Agreement.

  

	SECTION 2.	RIGHT TO EXERCISE. 

 (a)
Exercisability. Subject to Subsection (b) below and the other conditions set forth in this Agreement, all or part of this option may be exercised prior to its expiration at the time or times set forth in the Notice of Stock Option Grant.
Shares purchased by exercising this option may be subject to the Right of Repurchase under Section 7. 
 (b) Stockholder
Approval. Any other provision of this Agreement notwithstanding, no portion of this option shall be exercisable at any time prior to the approval of the Plan by the Company’s stockholders. 

 

	SECTION 3.	NO TRANSFER OR ASSIGNMENT OF OPTION. 

 Except as otherwise provided in this Agreement, this option and the rights and privileges conferred hereby shall not be sold, pledged or otherwise transferred (whether by operation of law or otherwise)
and shall not be subject to sale under execution, attachment, levy or similar process. 
  

	SECTION 4.	EXERCISE PROCEDURES. 

 (a)
Notice of Exercise. The Optionee or the Optionee’s representative may exercise this option by giving written notice to the Company pursuant to Section 13(c). The notice shall specify the election to exercise this option, the number
of Shares for which it is being exercised and the form of 

  
 2 

 
payment. The person exercising this option shall sign the notice. In the event that this option is being exercised by the representative of the Optionee, the notice shall be accompanied by proof
(satisfactory to the Company) of the representative’s right to exercise this option. The Optionee or the Optionee’s representative shall deliver to the Company, at the time of giving the notice, payment in a form permissible under
Section 5 for the full amount of the Purchase Price. In the event of a partial exercise of this option, Shares shall be deemed to have been purchased in the order in which they vest in accordance with the Notice of Stock Option Grant.

 (b) Issuance of Shares. After receiving a proper notice of exercise, the Company shall cause to be issued one or more
certificates evidencing the Shares for which this option has been exercised. Such Shares shall be registered (i) in the name of the person exercising this option, (ii) in the names of such person and his or her spouse as community property
or as joint tenants with the right of survivorship or (iii) with the Company’s consent, in the name of a revocable trust. In the case of Restricted Shares, the Company shall cause such certificates to be deposited in escrow under
Section 7(c). In the case of other Shares, the Company shall cause such certificates to be delivered to or upon the order of the person exercising this option. 
 (c) Withholding Taxes. In the event that the Company determines that it is required to withhold any tax as a result of the exercise of this option, the Optionee, as a condition to the exercise of
this option, shall make arrangements satisfactory to the Company to enable it to satisfy all withholding requirements. The Optionee shall also make arrangements satisfactory to the Company to enable it to satisfy any withholding requirements that
may arise in connection with the vesting or disposition of Shares purchased by exercising this option. 
  

	SECTION 5.	PAYMENT FOR STOCK. 

 (a)
Cash. All or part of the Purchase Price may be paid in cash or cash equivalents. 
 (b) Surrender of Stock. All or
any part of the Purchase Price may be paid by surrendering, or attesting to the ownership of, Shares that are already owned by the Optionee. Such Shares shall be surrendered to the Company in good form for transfer and shall be valued at their Fair
Market Value on the date when this option is exercised. The Optionee shall not surrender, or attest to the ownership of, Shares in payment of the Purchase Price if such action would cause the Company to recognize compensation expense (or additional
compensation expense) with respect to this option for financial reporting purposes. 
 (c) Exercise/Sale. All or part of
the Purchase Price and any withholding taxes may be paid by the delivery (on a form prescribed by the Company) of an irrevocable direction to a securities broker approved by the Company to sell Shares and to deliver all or part of the sales proceeds
to the Company. However, payment pursuant to this Subsection (c) shall be permitted only if (i) Stock then is publicly traded and (ii) such payment does not violate applicable law. 

(d) Exercise/Pledge. All or part of the Purchase Price and any withholding taxes may be paid by the delivery (on a form prescribed
by the Company) of an irrevocable direction to pledge Shares 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. However, payment pursuant to this
Subsection (d) shall be permitted only if (i) Stock then is publicly traded and (ii) such payment does not violate applicable law. 

  
 3 

	SECTION 6.	TERM AND EXPIRATION. 

 (a)
Basic Term. This option shall in any event expire on the expiration date set forth in the Notice of Stock Option Grant, which date is 10 years after the Date of Grant (five years after the Date of Grant if this option is designated as an ISO
in the Notice of Stock Option Grant and Section 3(b) of the Plan applies). 
 (b) Termination of Service (Except by
Death). If the Optionee’s Service terminates for any reason other than death, then this option shall expire on the earliest of the following occasions: 
 (i) The expiration date determined pursuant to Subsection (a) above; 
 (ii) The date three months after the termination of the Optionee’s Service for any reason other than Disability; or 

(iii) The date 12 months after the termination of the Optionee’s Service by reason of Disability. 

The Optionee may exercise all or part of this option at any time before its expiration under the preceding sentence, but only to the extent that this
option is exercisable for vested Shares on or before the date when the Optionee’s Service terminates. When the Optionee’s Service terminates, this option shall expire immediately with respect to the number of Shares for which this option
is not yet exercisable and with respect to any Restricted Shares. In the event that the Optionee dies after termination of Service but before the expiration of this option, all or part of this option may be exercised (prior to expiration) by the
executors or administrators of the Optionee’s estate or by any person who has acquired this option directly from the Optionee by beneficiary designation, bequest or inheritance, but only to the extent that this option was exercisable for vested
Shares on or before the date when the Optionee’s Service terminated. 
 (c) Death of the Optionee. If the Optionee
dies while in Service, then this option shall expire on the earlier of the following dates: 
 (i) The expiration
date determined pursuant to Subsection (a) above; or 
 (ii) The date 12 months after the Optionee’s
death. 
 All or part of this option may be exercised at any time before its expiration under the preceding sentence by the executors or
administrators of the Optionee’s estate or by any person who has acquired this option directly from the Optionee by beneficiary designation, bequest or inheritance. 
 (d) Part-Time Employment and Leaves of Absence. If the Optionee commences working on a part-time basis, then the Company may adjust the vesting schedule set forth in the Notice of Stock Option
Grant in accordance with the Company’s part-time work policy or the terms of an agreement between the Optionee and the Company pertaining to his or her part-time schedule. If the Optionee goes on a leave of absence, then the Company may adjust
the vesting schedule set forth in the Notice of Stock Option Grant in accordance with the Company’s leave of absence policy or the terms of such leave. Except as provided in the preceding sentence, Service shall be deemed to continue for any
purpose under this Agreement while the Optionee is on a bona fide leave of absence, if (i) such leave was approved by the Company in writing and (ii) continued crediting of Service for such purpose is expressly required by the

  
 4 

 
terms of such leave or by applicable law (as determined by the Company). Service shall be deemed to terminate when such leave ends, unless the Optionee immediately returns to active work.

 (e) Notice Concerning ISO Treatment. Even if this option is designated as an ISO in the Notice of Stock Option Grant,
it ceases to qualify for favorable tax treatment as an ISO to the extent that it is exercised: 
 (i) More than
three months after the date when the Optionee ceases to be an Employee for any reason other than death or Disability; 
 (ii) More than 12 months after the date when the Optionee ceases to be an Employee by reason of Disability; or 
 (iii) More than three months after the date when the Optionee has been on a leave of absence for 90 days, unless the Optionee’s reemployment rights following such leave were guaranteed by statute or
by contract. 
  

	SECTION 7.	RIGHT OF REPURCHASE. 

 (a)
Scope of Repurchase Right. Until they vest in accordance with the Notice of Stock Option Grant and Subsection (b) below, the Shares acquired under this Agreement shall be Restricted Shares and shall be subject to the Company’s Right
of Repurchase. The Company, however, may decline to exercise its Right of Repurchase or may exercise its Right of Repurchase only with respect to a portion of the Restricted Shares. The Company may exercise its Right of Repurchase only during the
Repurchase Period following the termination of the Optionee’s Service. The Right of Repurchase may be exercised automatically under Subsection (d) below. If the Right of Repurchase is exercised, the Company shall pay the Optionee for each
Restricted Share being repurchased an amount equal to the lower of (i) the Exercise Price of such Restricted Share or (ii) the Fair Market Value of such Restricted Share at the time the Right of Repurchase is exercised. 

(b) Lapse of Repurchase Right. The Right of Repurchase shall lapse with respect to the Restricted Shares in accordance with the
vesting schedule set forth in the Notice of Stock Option Grant. 
 (c) Escrow. Upon issuance, the certificate(s) for
Restricted Shares shall be deposited in escrow with the Company to be held in accordance with the provisions of this Agreement. Any additional or exchanged securities or other property described in Subsection (f) below shall immediately be
delivered to the Company to be held in escrow. All ordinary cash dividends on Restricted Shares (or on other securities held in escrow) shall be paid directly to the Optionee and shall not be held in escrow. Restricted Shares, together with any
other assets held in escrow under this Agreement, shall be (i) surrendered to the Company for repurchase upon exercise of the Right of Repurchase or the Right of First Refusal or (ii) released to the Optionee upon his or her request to the
extent that the Shares have ceased to be Restricted Shares (but not more frequently than once every six months). In any event, all Shares that have ceased to be Restricted Shares, together with any other vested assets held in escrow under this
Agreement, shall be released within 90 days after the earlier of (i) the termination of the Optionee’s Service or (ii) the lapse of the Right of First Refusal. 

(d) Exercise of Repurchase Right. The Company shall be deemed to have exercised its Right of Repurchase automatically for all
Restricted Shares as of the commencement of the Repurchase Period, unless the Company during the Repurchase Period notifies the holder of the Restricted Shares pursuant to Section 13(c) that it will not exercise its Right of Repurchase for some
or all 

  
 5 

 
of the Restricted Shares. During the Repurchase Period, the Company shall pay to the holder of the Restricted Shares the purchase price determined under Subsection (a) above for the
Restricted Shares being repurchased. Payment shall be made in cash or cash equivalents and/or by canceling indebtedness to the Company incurred by the Optionee in the purchase of the Restricted Shares. The certificate(s) representing the Restricted
Shares being repurchased shall be delivered to the Company. 
 (e) Termination of Rights as Stockholder. If the Right of
Repurchase is exercised in accordance with this Section 7 and the Company makes available the consideration for the Restricted Shares being repurchased, then the person from whom the Restricted Shares are repurchased shall no longer have any
rights as a holder of the Restricted Shares (other than the right to receive payment of such consideration). Such Restricted Shares shall be deemed to have been repurchased pursuant to this Section 7, whether or not the certificate(s) for such
Restricted Shares have been delivered to the Company or the consideration for such Restricted Shares has been accepted. 
 (f)
Additional or Exchanged Securities and Property. In the event of a merger or consolidation of the Company with or into another entity, any other corporate reorganization, a stock split, the declaration of a stock dividend, the declaration of
an extraordinary dividend payable in a form other than stock, a spin-off, an adjustment in conversion ratio, a recapitalization or a similar transaction affecting the Company’s outstanding securities, any securities or other property (including
cash or cash equivalents) that are by reason of such transaction exchanged for, or distributed with respect to, any Restricted Shares shall immediately be subject to the Right of Repurchase. Appropriate adjustments to reflect the exchange or
distribution of such securities or property shall be made to the number and/or class of the Restricted Shares. Appropriate adjustments shall also be made to the price per share to be paid upon the exercise of the Right of Repurchase, provided that
the aggregate purchase price payable for the Restricted Shares shall remain the same. In the event of a merger or consolidation of the Company with or into another entity or any other corporate reorganization, the Right of Repurchase may be
exercised by the Company’s successor. 
 (g) Transfer of Restricted Shares. The Optionee shall not transfer, assign,
encumber or otherwise dispose of any Restricted Shares without the Company’s written consent, except as provided in the following sentence. The Optionee may transfer Restricted Shares to one or more members of the Optionee’s Immediate
Family or to a trust established by the Optionee for the benefit of the Optionee and/or one or more members of the Optionee’s Immediate Family, provided in either case that the Transferee agrees in writing on a form prescribed by the Company to
be bound by all provisions of this Agreement. If the Optionee transfers any Restricted Shares, then this Agreement shall apply to the Transferee to the same extent as to the Optionee. 

(h) Assignment of Repurchase Right. The Board of Directors may freely assign the Company’s Right of Repurchase, in whole or
in part. Any person who accepts an assignment of the Right of Repurchase from the Company shall assume all of the Company’s rights and obligations under this Section 7. 

 

	SECTION 8.	RIGHT OF FIRST REFUSAL. 

(a) Right of First Refusal. In the event that the Optionee proposes to sell, pledge or otherwise transfer to a third party any
Shares acquired under this Agreement, or any interest in such Shares, the Company shall have the Right of First Refusal with respect to all (and not less than all) of such Shares. If the Optionee desires to transfer Shares acquired under this
Agreement, the Optionee shall give a written Transfer Notice to the Company describing fully the proposed transfer, including the number of Shares proposed to be transferred, the proposed transfer price, the name and address of the proposed
Transferee and proof satisfactory to the Company that the proposed sale or transfer will not 

  
 6 

 
violate any applicable federal or state securities laws. The Transfer Notice shall be signed both by the Optionee and by the proposed Transferee and must constitute a binding commitment of both
parties to the transfer of the Shares. The Company shall have the right to purchase all, and not less than all, of the Shares on the terms of the proposal described in the Transfer Notice (subject, however, to any change in such terms permitted
under Subsection (b) below) by delivery of a notice of exercise of the Right of First Refusal within 30 days after the date when the Transfer Notice was received by the Company. 

(b) Transfer of Shares. If the Company fails to exercise its Right of First Refusal within 30 days after the date when it
received the Transfer Notice, the Optionee may, not later than 90 days following receipt of the Transfer Notice by the Company, conclude a transfer of the Shares subject to the Transfer Notice on the terms and conditions described in the
Transfer Notice, provided that any such sale is made in compliance with applicable federal and state securities laws and not in violation of any other contractual restrictions to which the Optionee is bound. Any proposed transfer on terms and
conditions different from those described in the Transfer Notice, as well as any subsequent proposed transfer by the Optionee, shall again be subject to the Right of First Refusal and shall require compliance with the procedure described in
Subsection (a) above. If the Company exercises its Right of First Refusal, the parties shall consummate the sale of the Shares on the terms set forth in the Transfer Notice within 60 days after the date when the Company received the
Transfer Notice (or within such longer period as may have been specified in the Transfer Notice); provided, however, that in the event the Transfer Notice provided that payment for the Shares was to be made in a form other than cash or cash
equivalents paid at the time of transfer, the Company shall have the option of paying for the Shares with cash or cash equivalents equal to the present value of the consideration described in the Transfer Notice. 

(c) Additional or Exchanged Securities and Property. In the event of a merger or consolidation of the Company with or into another
entity, any other corporate reorganization, a stock split, the declaration of a stock dividend, the declaration of an extraordinary dividend payable in a form other than stock, a spin-off, an adjustment in conversion ratio, a recapitalization or a
similar transaction affecting the Company’s outstanding securities, any securities or other property (including cash or cash equivalents) that are by reason of such transaction exchanged for, or distributed with respect to, any Shares subject
to this Section 8 shall immediately be subject to the Right of First Refusal. Appropriate adjustments to reflect the exchange or distribution of such securities or property shall be made to the number and/or class of the Shares subject to this
Section 8. 
 (d) Termination of Right of First Refusal. Any other provision of this Section 8 notwithstanding,
in the event that the Stock is readily tradable on an established securities market when the Optionee desires to transfer Shares, the Company shall have no Right of First Refusal, and the Optionee shall have no obligation to comply with the
procedures prescribed by Subsections (a) and (b) above. 
 (e) Permitted Transfers. This Section 8 shall
not apply to (i) a transfer by beneficiary designation, will or intestate succession or (ii) a transfer to one or more members of the Optionee’s Immediate Family or to a trust established by the Optionee for the benefit of the
Optionee and/or one or more members of the Optionee’s Immediate Family, provided in either case that the Transferee agrees in writing on a form prescribed by the Company to be bound by all provisions of this Agreement. If the Optionee transfers
any Shares acquired under this Agreement, either under this Subsection (e) or after the Company has failed to exercise the Right of First Refusal, then this Agreement shall apply to the Transferee to the same extent as to the Optionee.

 (f) Termination of Rights as Stockholder. If the Company makes available, at the time and place and in the amount and
form provided in this Agreement, the consideration for the Shares to be purchased in accordance with this Section 8, then after such time the person from whom such Shares 

  
 7 

 
are to be purchased shall no longer have any rights as a holder of such Shares (other than the right to receive payment of such consideration in accordance with this Agreement). Such Shares shall
be deemed to have been purchased in accordance with the applicable provisions hereof, whether or not the certificate(s) therefor have been delivered as required by this Agreement. 

(g) Assignment of Right of First Refusal. The Board of Directors may freely assign the Company’s Right of First Refusal, in
whole or in part. Any person who accepts an assignment of the Right of First Refusal from the Company shall assume all of the Company’s rights and obligations under this Section 8. 

 

	SECTION 9.	LEGALITY OF INITIAL ISSUANCE. 

 No Shares shall be issued upon the exercise of this option unless and until the Company has determined that: 
 (a) It and the Optionee have taken any actions required to register the Shares under the Securities Act or to perfect an exemption from the registration requirements thereof; 

(b) Any applicable listing requirement of any stock exchange or other securities market on which Stock is listed has been
satisfied; and 
 (c) Any other applicable provision of federal, state or foreign law has been satisfied.

  

	SECTION 10.	NO REGISTRATION RIGHTS. 

The Company may, but shall not be obligated to, register or qualify the sale of Shares under the Securities Act or any other applicable
law. The Company shall not be obligated to take any affirmative action in order to cause the sale of Shares under this Agreement to comply with any law. 
  

	SECTION 11.	RESTRICTIONS ON TRANSFER. 

(a) Securities Law Restrictions. Regardless of whether the offering and sale of Shares under the Plan have been registered under
the Securities Act or have been registered or qualified under the securities laws of any state, the Company at its discretion may impose restrictions upon the sale, pledge or other transfer of such Shares (including the placement of appropriate
legends on stock certificates or the imposition of stop-transfer instructions) if, in the judgment of the Company, such restrictions are necessary or desirable in order to achieve compliance with the Securities Act, the securities laws of any state
or any other law. 
 (b) Market Stand-Off. In connection with any underwritten public offering by the Company of its
equity securities pursuant to an effective registration statement filed under the Securities Act, including the Company’s initial public offering, the Optionee or a Transferee shall not directly or indirectly sell, make any short sale of, loan,
hypothecate, pledge, offer, grant or sell any option or other contract for the purchase of, purchase any option or other contract for the sale of, or otherwise dispose of or transfer, or agree to engage in any of the foregoing transactions with
respect to, any Shares acquired under this Agreement without the prior written consent of the Company or its underwriters. Such restriction (the “Market Stand-Off”) shall be in effect for such period of time following the date of the final
prospectus for the offering as may be requested by the Company or such underwriters. In no event, however, shall such period exceed 180 days. The Market Stand-Off shall in any event terminate two

  
 8 

 
years after the date of the Company’s initial public offering. In the event of the declaration of a stock dividend, a spin-off, a stock split, an adjustment in conversion ratio, a
recapitalization or a similar transaction affecting the Company’s outstanding securities without receipt of consideration, any new, substituted or additional securities which are by reason of such transaction distributed with respect to any
Shares subject to the Market Stand-Off, or into which such Shares thereby become convertible, shall immediately be subject to the Market Stand-Off. In order to enforce the Market Stand-Off, the Company may impose stop-transfer instructions with
respect to the Shares acquired under this Agreement until the end of the applicable stand-off period. The Company’s underwriters shall be beneficiaries of the agreement set forth in this Subsection (b). This Subsection (b) shall not
apply to Shares registered in the public offering under the Securities Act, and the Optionee or a Transferee shall be subject to this Subsection (b) only if the directors and officers of the Company are subject to similar arrangements.

 (c) Investment Intent at Grant. The Optionee represents and agrees that the Shares to be acquired upon exercising this
option will be acquired for investment, and not with a view to the sale or distribution thereof. 
 (d) Investment Intent at
Exercise. In the event that the sale of Shares under the Plan is not registered under the Securities Act but an exemption is available which requires an investment representation or other representation, the Optionee shall represent and agree at
the time of exercise that the Shares being acquired upon exercising this option are being acquired for investment, and not with a view to the sale or distribution thereof, and shall make such other representations as are deemed necessary or
appropriate by the Company and its counsel. 
 (e) Legends. All certificates evidencing Shares purchased under this
Agreement shall bear the following legend: 
 “THE SHARES REPRESENTED HEREBY MAY NOT BE SOLD, ASSIGNED, TRANSFERRED,
ENCUMBERED OR IN ANY MANNER DISPOSED OF, EXCEPT IN COMPLIANCE WITH THE TERMS OF A WRITTEN AGREEMENT BETWEEN THE COMPANY AND THE REGISTERED HOLDER OF THE SHARES (OR THE PREDECESSOR IN INTEREST TO THE SHARES). SUCH AGREEMENT GRANTS TO THE COMPANY
CERTAIN RIGHTS OF FIRST REFUSAL UPON AN ATTEMPTED TRANSFER OF THE SHARES AND CERTAIN REPURCHASE RIGHTS UPON TERMINATION OF SERVICE WITH THE COMPANY. THE SECRETARY OF THE COMPANY WILL UPON WRITTEN REQUEST FURNISH A COPY OF SUCH AGREEMENT TO THE
HOLDER HEREOF WITHOUT CHARGE.” 
 All certificates evidencing Shares purchased under this Agreement in an unregistered transaction shall
bear the following legend (and such other restrictive legends as are required or deemed advisable under the provisions of any applicable law): 
 “THE SHARES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, PLEDGED, OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION THEREOF
UNDER SUCH ACT OR AN OPINION OF COUNSEL, SATISFACTORY TO THE COMPANY AND ITS COUNSEL, THAT SUCH REGISTRATION IS NOT REQUIRED.” 
 (f) Removal of Legends. If, in the opinion of the Company and its counsel, any legend placed on a stock certificate representing Shares sold under this Agreement is no longer required,

  
 9 

 
the holder of such certificate shall be entitled to exchange such certificate for a certificate representing the same number of Shares but without such legend. 

(g) Administration. Any determination by the Company and its counsel in connection with any of the matters set forth in this
Section 11 shall be conclusive and binding on the Optionee and all other persons. 
  

	SECTION 12.	ADJUSTMENT OF SHARES. 

 In
the event of any transaction described in Section 8(a) of the Plan, the terms of this option (including, without limitation, the number and kind of Shares subject to this option and the Exercise Price) shall be adjusted as set forth in
Section 8(a) of the Plan. In the event that the Company is a party to a merger or consolidation, this option shall be subject to the agreement of merger or consolidation, as provided in Section 8(b) of the Plan. 

 

	SECTION 13.	MISCELLANEOUS PROVISIONS. 

(a) Rights as a Stockholder. Neither the Optionee nor the Optionee’s representative shall have any rights as a stockholder
with respect to any Shares subject to this option until the Optionee or the Optionee’s representative becomes entitled to receive such Shares by filing a notice of exercise and paying the Purchase Price pursuant to Sections 4 and 5.

 (b) No Retention Rights. Nothing in this option or in the Plan shall confer upon the Optionee 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 Company (or any Parent or Subsidiary employing or retaining the Optionee) or of the Optionee, 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. 
 (c) Notice. Any notice
required by the terms of this Agreement shall be given in writing. It shall be deemed effective upon (i) personal delivery, (ii) deposit with the United States Postal Service, by registered or certified mail, with postage and fees prepaid
or (iii) deposit with Federal Express Corporation, with shipping charges prepaid. Notice shall be addressed to the Company at its principal executive office and to the Optionee at the address that he or she most recently provided to the Company
in accordance with this Subsection (c). 
 (d) Entire Agreement. The Notice of Stock Option Grant, this Agreement
and the Plan constitute the entire contract between the parties hereto with regard to the subject matter hereof. They supersede any other agreements, representations or understandings (whether oral or written and whether express or implied) which
relate to the subject matter hereof. 
 (e) Choice of Law. This Agreement shall be governed by, and construed in
accordance with, the laws of the State of Delaware, as such laws are applied to contracts entered into and performed in such State. 
  

	SECTION 14.	DEFINITIONS. 

 (a)
“Agreement” shall mean this Stock Option Agreement. 
 (b) “Board of Directors” shall mean the
Board of Directors of the Company, as constituted from time to time or, if a Committee has been appointed, such Committee. 

  
 10 

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

 (d) “Committee” shall mean a committee of the Board of Directors, as described in Section 2 of the
Plan. 
 (e) “Company” shall mean Violin Memory, Inc., a Delaware corporation. 

(f) “Consultant” shall mean a person who performs bona fide services for the Company, a Parent or a Subsidiary as a
consultant or advisor, excluding Employees and Outside Directors. 
 (g) “Date of Grant” shall mean the date
specified in the Notice of Stock Option Grant, which date shall be the later of (i) the date on which the Board of Directors resolved to grant this option or (ii) the first day of the Optionee’s Service. 

(h) “Disability” shall mean that the Optionee is unable to engage in any substantial gainful activity by reason of any
medically determinable physical or mental impairment which can be expected to result in death or which has lasted, or can be expected to last, for a continuous period of not less than 12 months. 

(i) “Employee” shall mean any individual who is a common-law employee of the Company, a Parent or a Subsidiary.

 (j) “Exercise Price” shall mean the amount for which one Share may be purchased upon exercise of this
option, as specified in the Notice of Stock Option Grant. 
 (k) “Fair Market Value” shall mean the fair market
value of a Share, as determined by the Board of Directors in good faith. Such determination shall be conclusive and binding on all persons. 
 (l) “Immediate Family” shall mean any child, stepchild, grandchild, parent, stepparent, grandparent, spouse, sibling, mother-in-law, father-in-law, son-in-law, daughter-in-law,
brother-in-law or sister-in-law and shall include adoptive relationships. 
 (m) “ISO” shall mean an employee
incentive stock option described in Section 422(b) of the Code. 
 (n) “Notice of Stock Option Grant”
shall mean the document so entitled to which this Agreement is attached. 
 (o) “NSO” shall mean a stock option
not described in Sections 422(b) or 423(b) of the Code. 
 (p) “Optionee” shall mean the person named in
the Notice of Stock Option Grant. 
 (q) “Outside Director” shall mean a member of the Board of Directors who
is not an Employee. 
 (r) “Parent” shall mean 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 

  
 11 

 
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. 

(s) “Plan” shall mean the Violin Memory, Inc. 2005 Stock Plan, as in effect on the Date of Grant. 

(t) “Purchase Price” shall mean the Exercise Price multiplied by the number of Shares with respect to which this option
is being exercised. 
 (u) “Repurchase Period” shall mean a period of 90 consecutive days commencing on the
date when the Optionee’s Service terminates for any reason, including (without limitation) death or disability. 
 (v)
“Restricted Share” shall mean a Share that is subject to the Right of Repurchase. 
 (w) “Right of
First Refusal” shall mean the Company’s right of first refusal described in Section 8. 
 (x) “Right
of Repurchase” shall mean the Company’s right of repurchase described in Section 7. 
 (y)
“Securities Act” shall mean the Securities Act of 1933, as amended. 
 (z) “Service” shall
mean service as an Employee, Outside Director or Consultant. 
 (aa) “Share” shall mean one share of Stock, as
adjusted in accordance with Section 8 of the Plan (if applicable). 
 (bb) “Stock” shall mean the Common
Stock of the Company, with a par value of $0.00001 per Share. 
 (cc) “Subsidiary” shall mean 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. 
 (dd) “Transferee” shall mean any person to
whom the Optionee has directly or indirectly transferred any Share acquired under this Agreement. 
 (ee) “Transfer
Notice” shall mean the notice of a proposed transfer of Shares described in Section 8. 

  
 12 

 VIOLIN MEMORY, INC. 2005 STOCK
PLAN 
 NOTICE OF RESTRICTED STOCK
UNIT AWARD 
 You have been granted Restricted Stock Units (the “RSUs”) covering shares of
the common stock of Violin Memory, Inc. (the “Company”), subject to the terms and conditions of the Company’s 2005 Stock Plan, this Notice of Restricted Stock Unit Award (“Grant Notice”), and the attached
Restricted Stock Unit Agreement (hereinafter “RSU Agreement”) under the Plan, as follows: 
  

			
	Name:	  	«Name»
		
	Total Number of RSUs:	  	«TotalRSUs»
		
	Date of Grant:	  	«DateGrant»
		
	Expiration Date:	  	«ExpirationDate» [To discuss ten year expiration date]
		
	Vesting Commencement Date:	  	«VestComDate»
		
	Vesting:	  	You will receive a benefit with respect to a RSU only if it vests. Two vesting requirements must be satisfied on or before the Expiration Date specified above in order for a RSU to
vest – a time-based service requirement (the “Time-Based Requirement”) and a requirement that the Company complete one of the significant corporate transactions described below (the “Liquidity Event
Requirement”). Your RSUs will not vest (in whole or in part) if only one (or if neither) of such requirements is satisfied on or before the Expiration Date. If both the Time-Based Requirement and the Liquidity Event Requirement are
satisfied on or before the Expiration Date, the vesting date (“Vesting Date”) of a RSU will be the first date upon which both of those requirements are satisfied with respect to that particular RSU.
		
	Time-Based Requirement:	  	The Time-Based Requirement will be satisfied in a series of 12 successive equal quarterly installments measured over the three-year period following the Vesting Commencement Date,
provided that you remain in continuous Service through each applicable date and subject to Section 2 of the RSU Agreement.
		
	Liquidity Event Requirement:	  	The Liquidity Event Requirement will be satisfied (as to any then-outstanding RSUs that have not theretofore been terminated pursuant to Section 2 of the RSU Agreement) on the
earlier to occur of: (i) an IPO, or (ii) a Sale Event; provided, however, if the Liquidity Event Requirement is triggered by an IPO, then the Liquidity Event Requirement shall be deemed satisfied upon the earliest of (i) the 181st day
following the IPO, (ii) the March 15th following the year in which the IPO occurs, or (iii) the Expiration Date.
		
	Settlement:	  	Settlement of RSUs refers to the issuance of Shares (or, if applicable, cash) once the award is vested. If a RSU vests as a result of satisfaction of both applicable vesting
requirements as described

			
		  	above, the Company will deliver one Share for that RSU, unless at the time of settlement the Committee, in its sole discretion, determines that settlement shall, in whole or in
part, be in the form of cash, based on the then fair market value of a Share. Notwithstanding the immediately preceding sentence, settlement of RSUs that become vested RSUs upon a Sale Event will be made in Shares, unless otherwise specified in the
definitive agreement for such Sale Event. Settlement shall occur not later than March 15th following the year in which the Vesting Date applicable to a RSU occurs.

 By signing below, you and the Company agree that the RSUs are granted under and governed by the terms and conditions of
the Company’s 2005 Stock Plan (the “Plan”) and the RSU Agreement, both of which are attached to and made a part hereof. You hereby acknowledge that the vesting of the RSUs pursuant to this Grant Notice is conditioned on the
satisfaction of the Time-Based Requirement and the occurrence, on or before the Expiration Date, of an IPO or Sale Event. You shall have no right with respect to the RSUs to the extent an IPO or Sale Event does not occur on or before the Expiration
Date (regardless of the extent to which the Time-Based Requirement was satisfied). Defined terms not explicitly defined in this Grant Notice shall have the same definitions as in Section 9 of the RSU Agreement or the Plan. 

You further agree to accept by email all documents relating to the Company, the Plan or the RSUs and all other documents that the Company is required to
deliver to its security holders (including, without limitation, disclosures that may be required by the Securities and Exchange Commission). You also agree that the Company may deliver these documents by posting them on a website maintained by the
Company or by a third party under contract with the Company. If the Company posts these documents on a website, it will notify you by email of their availability. You acknowledge that you may incur costs in connection with electronic delivery,
including the cost of accessing the internet and printing fees, and that an interruption of internet access may interfere with your ability to access the documents. 
  

							
	PARTICIPANT	 		 	VIOLIN MEMORY, INC.
				
	  
	 		 	By:	 	 /s/ Cory Sindelar

			
	Address:	 		 	Name: Cory Sindelar
			
	  
	 		 	Title: Chief Financial Officer
	  
	 		 	

  
 2 

 VIOLIN MEMORY, INC. 2005 STOCK
PLAN 
 RESTRICTED STOCK UNIT AGREEMENT

  

	SECTION 1.	GRANT OF RESTRICTED STOCK UNITS. 

 (a) Grant. On the terms and conditions set forth in the Notice of Restricted Stock Unit Award (the “Grant Notice”) and this Agreement, the Company grants to you the RSUs on the
Date of Grant. Each RSU represents the right to receive one share of the Company’s common stock on the terms and conditions set forth in this Agreement. 
 (b) Consideration. You are not required to pay any amount for the RSUs that have been granted to you. 
 (c) Nature of Units; No Rights as a Stockholder. Your RSUs are mere bookkeeping entries and represent only the Company’s unfunded and unsecured promise to issue Shares on a future date under
specified conditions. As a holder of RSUs, you have no rights other than the rights of a general creditor of the Company. Your RSUs carry neither voting rights nor rights to cash dividends. You have no rights as a stockholder of the Company unless
and until your RSUs are settled pursuant to Section 3. 
 (d) Transfer Restrictions. Except as otherwise provided in
this Agreement, the RSUs and any right to receive Shares upon settlement of the RSUs shall not be sold, assigned, transferred, pledged, hypothecated, or otherwise disposed of, including pursuant to any short position, any “put equivalent
position” (as defined in Rule 16a-1(h) promulgated under the Exchange Act), or any “call equivalent position” (as defined in Rule 16a-1(b) promulgated under the Exchange Act) by you prior to the settlement of the RSUs. However, you
may designate a third party who, in the event of your death, shall thereafter be entitled to receive any distribution of Shares to which you were entitled at the time of your death pursuant to this Agreement by delivering a written beneficiary
designation to the Company’s headquarters on the prescribed form before your death. If you deliver no such beneficiary designation or if your designated beneficiaries do not survive you, your estate will receive payments in respect of any
vested RSUs. 
 (e) Stock Plan and Defined Terms. Your RSUs are granted pursuant to the Plan, a copy of which you
acknowledge having received. The provisions of the Plan are incorporated into this Agreement by this reference. Capitalized terms are defined in Section 9 of this Agreement. 

 

	SECTION 2.	VESTING. 

 (a)
Generally. You will receive a benefit with respect to a RSU only if the Time-Based Requirement and the Liquidity Event Requirement are satisfied on or before the Expiration Date. Your RSUs will not vest (in whole or in part) if only one (or
if neither) of such requirements is satisfied on or before the Expiration Date. 
 (b) Termination of Service. If your
continuous Service terminates for any reason, all RSUs as to which the Time-Based Requirement has not been satisfied as of your termination date shall 

 
automatically terminate and be cancelled. You will not satisfy the Time-Based Requirement for any additional RSUs after your Service has terminated for any reason. Upon your termination, any RSUs
as to which the Time-Based Requirement had been satisfied will (if an IPO or Sale Event had not occurred) remain outstanding until the first to occur of: (i) an IPO, (ii) Sale Event, or (iii) the Expiration Date. In case of any
dispute as to whether your continuous Service has terminated (and the Time-Based Requirement has been satisfied), the Committee shall have sole discretion to determine whether such termination has occurred and the effective date of such termination.

 (c) Expiration of RSUs. If an IPO or Sale Event does not occur on or before the Expiration Date, all RSUs (regardless
of whether or not, or the extent to which, the Time-Based Requirement had been satisfied as to such RSUs) shall automatically terminate upon such Expiration Date. Upon a termination of one or more RSUs pursuant to this Section 2, you will have
no further right with respect to such RSUs or the Shares previously allocated thereto. 
 (d) Part-Time Employment and Leaves
of Absence. If you commence working on a part-time basis, then the Company may adjust the Time-Based Requirement set forth in the Grant Notice. If you go on a leave of absence, then the Company may adjust the vesting schedule set forth in the
Grant Notice in accordance with the Company’s leave of absence policy or the terms of such leave. Except as provided in the preceding sentence, Service shall be deemed to continue for any purpose under this Agreement while you are on a bona
fide leave of absence, if (i) such leave was approved by the Company in writing and (ii) continued crediting of Service for such purpose is expressly required by the terms of such leave or by applicable law (as determined by the
Company). Service shall be deemed to terminate when such leave ends, unless you immediately return to active work. 
  

	SECTION 3.	SETTLEMENT OF RESTRICTED STOCK UNITS. 

 (a) Settlement Date. Upon a Vesting Date with respect to a particular RSU, the Company will deliver one Share for that RSU, unless at the time of settlement the Committee, in its sole discretion,
determines that settlement shall, in whole or in part, be in the form of cash, based on the then fair market value of a Share. Notwithstanding the foregoing, settlement of RSUs that become vested RSUs upon a Sale Event will be made in Shares, unless
otherwise specified in the definitive agreement for such Sale Event. Settlement shall occur not later than March 15th following the year in which the Vesting Date occurs. 
 (b) Form of Delivery. The form of any delivery of Shares (e.g., a stock certificate or electronic entry evidencing the Shares) shall be determined by the Company. 

(c) Legality of Issuance. No Shares shall be issued to you upon settlement of the RSUs unless and until the Company has determined
that (i) you and the Company have taken any actions required to register the Shares under the Securities Act or to perfect an exemption from the registration requirements thereof; (ii) any applicable listing requirement of any stock
exchange or other securities market on which Stock is listed has been satisfied; and (iii) any other applicable provision of federal, state or foreign law has been satisfied. The Company shall have no liability to issue Shares in respect of the
RSUs unless it is able to do so in compliance with applicable law. 
  

	SECTION 4.	TAX MATTERS. 

 (a)
Withholding Taxes. Upon the Vesting Date and/or settlement date for the RSUs, the fair market value of the Shares is treated as income subject to withholding by the Company and/or the 

 
Parent or Subsidiary employing you (your “Employer”) for the payment of all applicable federal, State, local and foreign income and employment withholding taxes which arise in
connection with the vesting or settlement of the RSUs (the “Withholding Taxes”). No consideration will be paid to you in respect of this award unless you have made suitable arrangements to satisfy the Withholding Taxes. To the
extent that you fail to make such arrangements with respect to certain RSUs, then you will permanently forfeit such RSUs. At the discretion of the Company, these arrangements may include (i) withholding from other compensation or amounts that
are owed to you by your Employer; (ii) payment in cash, (iii) payment from the proceeds of the sale of Shares through a Company-approved broker if the Stock is publicly traded; or (iv) withholding Shares that otherwise would be issued
to you when the RSUs are settled. However, if you are a Company officer subject to Section 16 of the Exchange Act, then the Withholding Taxes will be satisfied pursuant to clause (iv) of the preceding sentence, unless otherwise determined
in advance by the Committee. The fair market value of the Shares, determined as of the date when taxes otherwise would have been withheld in cash, will be applied to the Withholding Taxes. 

(b) Section 409A. The settlement of the RSUs is intended to be exempt from the application of Section 409A of the Code
pursuant to the “short-term deferral exemption” in Treasury Regulation 1.409A-1(b)(4) and shall be administered and interpreted in a manner that complies with such exemption. To the extent that any provision of this Agreement is ambiguous
as to its exemption from Section 409A of the Code, the provision shall be read in such a manner so that all payments hereunder are exempt from Section 409A of the Code. Notwithstanding the foregoing, if this award of RSUs is interpreted as
not being exempt from Section 409A of the Code, it shall be interpreted to comply with the requirements of Section 409A of the Code so that this award is not subject to additional tax or interest under Section 409A of the Code. In
this regard, if this award is payable upon your “separation from service” within the meaning of Section 409A(a)(2)(A)(i) of the Code (a “Separation”) and you are a “specified employee” of the Company or any
affiliate thereof within the meaning of Section 409A(a)(2)(B)(i) of the Code on the date of your Separation, then no such payment shall be made prior to the date that is the earlier of (i) six month and one day after your Separation, or
(ii) your death, but only to the extent such delay is necessary so that this award is not subject to additional tax or interest under Section 409A of the Code. 
 (c) Acknowledgements. You acknowledge that there will be tax consequences upon vesting and/or settlement of the RSUs and/or disposition of the Shares, if any, received hereunder, and you should
consult a tax adviser regarding your tax obligations prior to such event. You acknowledge that the Company is not providing any tax, legal, or financial advice, nor is the Company making any recommendations regarding your participation in the Plan
or acquisition or sale of Shares subject to this award. You are hereby advised to consult with your own personal tax, legal, and financial advisors regarding his or her participation in the Plan. You acknowledge that the Company (i) makes no
representations or undertakings regarding the tax treatment of the award of RSUs, including but not limited to the grant, vesting, or settlement of the RSUs, the subsequent sale of Shares acquired pursuant to such RSUs, and the receipt of any
dividends; and (ii) does not commit to and is under no obligation to structure the terms of the grant of the RSUs to reduce or eliminate your tax liability or achieve any particular tax result. You agree that the Company does not have a duty to
design or administer the RSUs, the Plan or its other compensation programs in a manner that minimizes your tax liability. You shall not make any claim against the Company or its Board, officers, or employees related to tax matters arising from this
award or your other compensation. 
  

	SECTION 5.	RIGHT OF FIRST REFUSAL. 

(a) Right of First Refusal. In the event that you propose to sell, pledge or otherwise transfer to a third party any Shares
acquired under this Agreement, or any interest in such Shares to the 

 
extent consistent with the restrictions set forth in Section 1(d), the Company shall have the Right of First Refusal with respect to all (and not less than all) of such Shares. If you desire
to transfer Shares acquired under this Agreement, you must give a written Transfer Notice to the Company describing fully the proposed transfer, including the number of Shares proposed to be transferred, the proposed transfer price, the name and
address of the proposed Transferee and proof satisfactory to the Company that the proposed sale or transfer will not violate any applicable federal, State or foreign securities laws. The Transfer Notice shall be signed both by you and by the
proposed Transferee and must constitute a binding commitment of both parties to the transfer of the Shares. The Company shall have the right to purchase all, and not less than all, of the Shares on the terms of the proposal described in the Transfer
Notice (subject, however, to any change in such terms permitted under Section 5(b) below) by delivery of a notice of exercise of the Right of First Refusal within 30 days after the date when the Transfer Notice was received by the Company.

 (b) Transfer of Shares. If the Company fails to exercise its Right of First Refusal within 30 days after the date
when it received the Transfer Notice, you may, not later than 90 days following receipt of the Transfer Notice by the Company, conclude a transfer of the Shares subject to the Transfer Notice on the terms and conditions described in the
Transfer Notice, provided that any such sale is made in compliance with applicable federal, State and foreign securities laws and not in violation of any other contractual restrictions to which you are bound. Any proposed transfer on terms and
conditions different from those described in the Transfer Notice, as well as any subsequent proposed transfer by you, shall again be subject to the Right of First Refusal and shall require compliance with the procedure described in Section 5(a)
above. If the Company exercises its Right of First Refusal, the parties shall consummate the sale of the Shares on the terms set forth in the Transfer Notice within 60 days after the date when the Company received the Transfer Notice (or within
such longer period as may have been specified in the Transfer Notice); provided, however, that in the event the Transfer Notice provided that payment for the Shares was to be made in a form other than cash or cash equivalents paid at the time of
transfer, the Company shall have the option of paying for the Shares with cash or cash equivalents equal to the present value of the consideration described in the Transfer Notice. 

(c) Additional or Exchanged Securities and Property. In the event of a merger or consolidation of the Company with or into another
entity, any other corporate reorganization, a stock split, the declaration of a stock dividend, the declaration of an extraordinary dividend payable in a form other than stock, a spin-off, an adjustment in conversion ratio, a recapitalization or a
similar transaction affecting the Company’s outstanding securities, any securities or other property (including cash or cash equivalents) that are by reason of such transaction exchanged for, or distributed with respect to, any Shares subject
to this Section 5 shall immediately be subject to the Right of First Refusal. Appropriate adjustments to reflect the exchange or distribution of such securities or property shall be made to the number and/or class of the Shares subject to this
Section 5. 
 (d) Termination of Right of First Refusal. Any other provision of this Section 5 notwithstanding,
in the event that the Stock is readily tradable on an established securities market when you desire to transfer Shares, the Company shall have no Right of First Refusal, and you will have no obligation to comply with the procedures prescribed by
Sections 5(a) and 5(b) above. 
 (e) Permitted Transfers. This Section 5 shall not apply to (i) a transfer
by beneficiary designation, will or intestate succession or (ii) a transfer to one or more members of your Immediate Family or to a trust established by you for the benefit of you and/or one or more members of your Immediate Family, provided in
either case that the Transferee agrees in writing on a form prescribed by the Company to be bound by all provisions of this Agreement. If you transfer any Shares acquired under 

 
this Agreement, either under this Section 5(e) or after the Company has failed to exercise the Right of First Refusal, then this Agreement shall apply to the Transferee to the same extent as
to you. 
 (f) Termination of Rights as Stockholder. If the Company makes available, at the time and place and in the
amount and form provided in this Agreement, the consideration for the Shares to be purchased in accordance with this Section 5, then after such time the person from whom such Shares are to be purchased shall no longer have any rights as a
holder of such Shares (other than the right to receive payment of such consideration in accordance with this Agreement). Such Shares shall be deemed to have been purchased in accordance with the applicable provisions hereof, whether or not the
certificate(s) therefor have been delivered as required by this Agreement. 
 (g) Assignment of Right of First Refusal.
The Board of Directors may freely assign the Company’s Right of First Refusal, in whole or in part. Any person who accepts an assignment of the Right of First Refusal from the Company shall assume all of the Company’s rights and
obligations under this Section 5. 
  

	SECTION 6.	ADDITIONAL RESTRICTIONS APPLICABLE TO SHARES. 

 (a) Securities Law Restrictions. Regardless of whether the offering and sale of Shares under the Plan have been registered under the Securities Act or have been registered or qualified under the
securities laws of any State, the Company at its discretion may impose restrictions upon the sale, pledge or other transfer of the Shares (including the placement of appropriate legends on stock certificates or the imposition of stop-transfer
instructions) if, in the judgment of the Company, such restrictions are necessary or desirable in order to achieve compliance with the Securities Act, the securities laws of any State or any other law. You (or the beneficiary or your personal
representative in the event of your death or incapacity, as the case may be) shall deliver to the Company any representations or other documents or assurances as the Company may deem necessary or reasonably desirable to ensure compliance with all
applicable legal and regulatory requirements. 
 (b) Market Stand-Off. In connection with any underwritten public
offering by the Company of its equity securities pursuant to an effective registration statement filed under the Securities Act, including the Company’s initial public offering, you or a Transferee shall not directly or indirectly sell, make
any short sale of, loan, hypothecate, pledge, offer, grant or sell any option or other contract for the purchase of, purchase any option or other contract for the sale of, or otherwise dispose of or transfer, or agree to engage in any of the
foregoing transactions with respect to, any Shares acquired under this Agreement without the prior written consent of the Company or its managing underwriter. Such restriction (the “Market Stand-Off”) shall be in effect for such
period of time following the date of the final prospectus for the offering as may be requested by the Company or such underwriter. In no event, however, shall such period exceed 180 days plus such additional period as may reasonably be requested by
the Company or such underwriter to accommodate regulatory restrictions on (i) the publication or other distribution of research reports or (ii) analyst recommendations and opinions, including (without limitation) the restrictions set forth
in Rule 2711(f)(4) of the National Association of Securities Dealers and Rule 472(f)(4) of the New York Stock Exchange, as amended, or any similar successor rules. The Market Stand-Off shall in any event terminate two years after the date
of the Company’s initial public offering. In the event of the declaration of a stock dividend, a spin-off, a stock split, an adjustment in conversion ratio, a recapitalization or a similar transaction affecting the Company’s outstanding
securities without receipt of consideration, any new, substituted or additional securities which are by reason of such transaction distributed with respect to any Shares subject to the Market Stand-Off, or into which such Shares thereby become
convertible, shall immediately be subject to the Market Stand-Off. In 

 
order to enforce the Market Stand-Off, the Company may impose stop-transfer instructions with respect to the Shares acquired under this Agreement until the end of the applicable stand-off period.
The Company’s underwriters shall be beneficiaries of the agreement set forth in this Section 6(b). This Section 6(b) shall not apply to Shares registered in the public offering under the Securities Act. 

(c) Investment Intent at Grant. You represent and agree that the Shares to be acquired upon settlement of the RSUs will be
acquired for investment, and not with a view to the sale or distribution thereof. 
 (d) Investment Intent at Settlement.
In the event that the sale of Shares under the Plan is not registered under the Securities Act but an exemption is available that requires an investment representation or other representation, you shall represent and agree at the time of issuance
that the Shares being acquired upon settlement of the RSUs are being acquired for investment, and not with a view to the sale or distribution thereof, and shall make such other representations as are deemed necessary or appropriate by the Company
and its counsel. 
 (e) Rights of the Company. The Company shall not be required to (i) transfer on its books any
Shares that have been sold or transferred in contravention of this Agreement or (ii) treat as the owner of Shares, or otherwise to accord voting, dividend or liquidation rights to, any Transferee to whom Shares have been transferred in
contravention of this Agreement. 
 (f) No Registration Rights. The Company may, but shall not be obligated to, register
or qualify the sale of Shares under the Securities Act or any other applicable law. The Company shall not be obligated to take any affirmative action in order to cause the sale of Shares under this Agreement to comply with any law. 

(g) Legends. All certificates evidencing the Shares issued under this Agreement shall bear the following legends: 

“THE SHARES REPRESENTED HEREBY MAY NOT BE SOLD, ASSIGNED, TRANSFERRED, ENCUMBERED OR IN ANY MANNER DISPOSED OF, EXCEPT IN COMPLIANCE
WITH THE TERMS OF A WRITTEN AGREEMENT BETWEEN THE COMPANY AND THE REGISTERED HOLDER OF THE SHARES (OR THE PREDECESSOR IN INTEREST TO THE SHARES). SUCH AGREEMENT GRANTS TO THE COMPANY CERTAIN RIGHTS OF FIRST REFUSAL UPON AN ATTEMPTED TRANSFER OF THE
SHARES. IN ADDITION, THE SHARES ARE SUBJECT TO RESTRICTIONS ON TRANSFER FOR A LIMITED PERIOD FOLLOWING THE EFFECTIVE DATE OF THE UNDERWRITTEN PUBLIC OFFERING OF THE COMPANY’S SECURITIES AND MAY NOT BE SOLD OR OTHERWISE DISPOSED OF BY THE HOLDER
WITHOUT THE CONSENT OF THE COMPANY OR THE MANAGING UNDERWRITER. THE SECRETARY OF THE COMPANY WILL UPON WRITTEN REQUEST FURNISH A COPY OF SUCH AGREEMENT TO THE HOLDER HEREOF WITHOUT CHARGE.” 

All certificates evidencing Shares issued under this Agreement in an unregistered transaction shall bear the following legend (and such other restrictive
legends as are required or deemed advisable under the provisions of any applicable law): 
 “THE SHARES REPRESENTED HEREBY
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE 

 
SOLD, PLEDGED, OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION THEREOF UNDER SUCH ACT OR AN OPINION OF COUNSEL, SATISFACTORY TO THE COMPANY AND ITS COUNSEL, THAT SUCH REGISTRATION IS
NOT REQUIRED.” 
 If required by the authorities of any State in connection with the issuance of the Shares, the legend or legends required
by such State authorities shall also be endorsed on all such certificates. 
 (h) Removal of Legends. If, in the opinion
of the Company and its counsel, any legend placed on a stock certificate representing Shares issued under this Agreement is no longer required, the holder of such certificate shall be entitled to exchange such certificate for a certificate
representing the same number of Shares but without such legend. 
 (i) Administration. Any determination by the Company
and its counsel in connection with any of the matters set forth in this Section 6 shall be conclusive and binding on you and all other persons. 
  

	SECTION 7.	ADJUSTMENTS OF SHARES. 

(a) Capitalization Adjustments. In the event of a subdivision of the outstanding Stock, a declaration of a dividend payable in
Stock or a combination or consolidation of the outstanding Stock (by reclassification or otherwise) into a lesser number of Shares, corresponding proportionate adjustments shall automatically be made to the number and kind of shares subject to the
RSUs. In the event of a declaration of an extraordinary dividend payable in a form other than Shares in an amount that has a material effect on the fair market value of the Stock, a recapitalization, a spin-off, or a similar occurrence, the
Committee shall make such adjustments as it, in its sole discretion, deems appropriate to the number and kind of shares subject to the RSUs. Any adjustment in the number of and kind of shares subject to the RSUs shall be rounded down to the nearest
whole share, although the Committee in its sole discretion may make a cash payment in lieu of a fractional share. Except as provided in this Section 7(a), you will 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. This
Section 7(a) shall supersede Section 8(a) of the Plan with respect to the RSUs. 
 (b) Corporate Transactions.
In the event that the Company is a party to a merger or consolidation, or in the event of a sale of all or substantially all of the Company’s stock or assets, all RSUs outstanding on the effective date of the transaction shall be treated in the
manner described in the definitive transaction agreement (or, in the event the transaction does not entail a definitive agreement to which the Company is party, in the manner determined by the Board of Directors in its capacity as administrator of
the Plan, with such determination having final and binding effect on all parties), which agreement or determination need not treat all RSUs (or all portions thereof) in an identical manner. This Section 7(b) shall supersede Section 8(b) of
the Plan with respect to the RSUs. 
 (i) The treatment specified in the transaction agreement may include (without limitation)
one or more of the following with respect to each outstanding RSU: (i) continuation of the RSU by the Company (if the Company is the surviving corporation); (ii) assumption of the RSU by the surviving corporation or its parent;
(iii) substitution by the surviving corporation or its parent of a new award for the RSU; and (iv) cancellation of the RSU and a payment to you with respect to each Share subject to the portion of the RSU that the Time-Based Requirement is
satisfied as of the transaction date equal to the value, as determined by the Board of Directors in its absolute discretion, of the property 

 
(including cash) received by the holder of a share of Stock as a result of the transaction, with such payment to be made in the form of cash, cash equivalents, or securities of the surviving
corporation or its parent and subject to any escrow, holdback, earn-out or similar provisions in the transaction agreement to the same extent and in the same manner as such provisions apply to the holders of Stock. 

(ii) Any action taken must either preserve the exemption of your RSUs from Section 409A of the Code or comply with Section 409A
of the Code. If a payment under the RSUs is subject to Section 409A of the Code and if the definition of Sale Event contained herein does not comply with the definition of a “change of control event” for purposes of a distribution
under Section 409A of the Code, then any payment of an amount that is otherwise accelerated under this Section 7 will be delayed until the earliest time that such payment would be permissible under Section 409A of the Code without
triggering any penalties applicable under Section 409A of the Code. Subject to the foregoing, the Board of Directors has discretion to accelerate, in whole or part, the vesting of an RSU in connection with a corporate transaction covered by
this Section 7. 
 (c) Same Restrictions. Any additional RSUs and any new, substituted or additional shares, cash or
other property that become subject to this award as a result of any such transaction shall be subject to the same conditions and restrictions as applicable to the RSUs to which they relate. 

 

	SECTION 8.	MISCELLANEOUS PROVISIONS. 

(a) Successors and Assigns. Except as otherwise expressly provided to the contrary, the provisions of this Agreement shall inure to
the benefit of, and be binding upon, the Company and its successors and assigns and be binding upon you and your legal representatives, heirs, legatees, distributees, assigns and transferees by operation of law, whether or not any such person has
become a party to this Agreement or has agreed in writing to join herein and to be bound by the terms, conditions and restrictions hereof. 
 (b) No Retention Rights. Nothing in this Agreement or in the Plan shall confer upon you the right to remain in Service in any capacity for any period of specific duration or interfere with or
otherwise restrict in any way the rights of the Company (or any Parent or Subsidiary employing or retaining you) or you, which rights are hereby expressly reserved by each, to terminate your Service at any time and for any reason, with or without
cause. 
 (c) Notice. Any notice required by the terms of this Agreement shall be given in writing. It shall be deemed
effective upon (i) personal delivery, (ii) deposit with the United States Postal Service, by registered or certified mail, with postage and fees prepaid or (iii) deposit with Federal Express Corporation, with shipping charges prepaid.
Notice shall be addressed to the Company at its principal executive office and to you at the address that you most recently provided to the Company in accordance with this Section 8(c) 

(d) Effect on Other Employee Benefit Plans. The value of your RSUs and the Shares issuable thereunder shall not be included as
compensation, earnings, salaries, or other similar terms used when calculating benefits under any employee benefit plan (other than the Plan) sponsored by the Company, a Parent, or a Subsidiary, except as such plans otherwise expressly provide.

 (e) Entire Agreement. The Grant Notice, this Agreement and the Plan constitute the entire understanding between you
and the Company regarding the subject matter hereof. They supersede any other agreements, representations or understandings (whether oral or written and whether express or 

 
implied) that relate to the subject matter hereof. The Company may, however, unilaterally waive any provision hereof or of the Grant Notice in writing to the extent such waiver does not adversely
affect your interests 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. If any provision of this Agreement is determined by a court of law to be
illegal or unenforceable, then such provision will be enforced to the maximum extent possible and the other provisions will remain fully effective and enforceable. 
 (f) Choice of Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware, as such laws are applied to contracts entered into and performed in such
State. 
  

	SECTION 9.	DEFINITIONS. 

 (a)
“Agreement” means this Restricted Stock Unit Agreement. 
 (b) “Board of Directors” means the
Board of Directors of the Company, as constituted from time to time or, if a Committee has been appointed, such Committee. 

(c) “Code” means the Internal Revenue Code of 1986, as amended. 

(d) “Committee” means a committee of the Board of Directors, as described in Section 2(a) of the Plan. 

(e) “Company” means Violin Memory, Inc., a Delaware corporation. 

(f) “Consultant” means a person, excluding Employees and Outside Directors, who performs bona fide services for the
Company, a Parent or a Subsidiary as a consultant or advisor and who qualifies as a consultant or advisor under Rule 701(c)(1) of the Securities Act. 
 (g) “Date of Grant” means the date specified in the Grant Notice, which date shall be the later of (i) the date on which the Board of Directors resolved to grant the RSUs to you, or
(ii) your first date of Service. 
 (h) “Employee” means any individual who is a common-law employee of
the Company, a Parent or a Subsidiary. 
 (i) “Exchange Act” means the Securities Exchange Act of 1934, as
amended. 
 (j) “Expiration Date” means the expiration date of the RSUs as set forth in the Grant Notice.

 (k) “Grant Notice” means the Notice of Restricted Stock Unit Award to which this Agreement is attached.

 (l) “Immediate Family” means any child, stepchild, grandchild, parent, stepparent, grandparent, spouse,
sibling, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law or sister-in-law and shall include adoptive relationships. 
 (m) “IPO” means the consummation of the first firm commitment underwritten public offering pursuant to an effective registration statement under the Securities Act covering the offer and

 
sale by the Company of its equity securities, as a result of or following which the Shares shall be publicly held. 
 (n) “Liquidity Event Requirement” means the requirement that the Company complete an IPO or Sale Event. The Liquidity Event Requirement will be deemed satisfied (as to any
then-outstanding RSUs that have not theretofore been terminated pursuant to Section 2 of the Agreement) on the earlier to occur of: (i) an IPO, or (ii) a Sale Event; provided, however, if the Liquidity Event Requirement is
triggered by an IPO, then the Liquidity Event Requirement shall be deemed satisfied upon the earliest of: (i) the 181st day following the IPO, (ii) the March 15th following the year in which the IPO occurs, or (iii) the
Expiration Date. 
 (o) “Outside Director” means a member of the Board of Directors who is not an Employee.

 (p) “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 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. 
 (q)
“Plan” means the Violin Memory, Inc. 2005 Stock Plan, as amended. 
 (r) “Right of First
Refusal” means the Company’s right of first refusal described in Section 5. 
 (s) “RSUs”
means the Restricted Stock Units granted to you by the Company as set forth in the Grant Notice. 
 (t) “Sale
Event” means the consummation of the following transactions in which holders of Shares receive cash or marketable securities: (i) a sale of all or substantially all of the assets of the Company determined on a consolidated basis to an
unrelated person or entity; (ii) a merger, reorganization, or consolidation involving the Company in which the shares of voting stock of the Company outstanding immediately prior to such transaction represent or are converted into or exchanged
for securities of the surviving or resulting entity immediately upon completion of such transaction which represent less than 50% of the outstanding voting power of such surviving or resulting entity; or (iii) the acquisition of all or a
majority of the outstanding voting stock of the Company in a single transaction or series of related transactions by a person or group of persons. For the avoidance of doubt, an initial public offering, any subsequent public offering, another
capital raising event, and a merger effected solely to change the Company’s domicile shall not constitute a “Sale Event.” 
 (u) “Securities Act” means the Securities Act of 1933, as amended. 
 (v) “Service” means service as an Employee, Outside Director or Consultant. 
 (w) “Share” means a share of the common stock of the Company, as adjusted in accordance with Section 8 of the Plan (if applicable). 

(x) “Stock” means the common stock of the Company. 

(y) “Subsidiary” means any corporation (other than the Company) in an unbroken chain or 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. 

(z) “Time-Based Requirement” means the requirement to provide Service over the period of time set forth in the Grant
Notice. 
 (aa) “Transfer Notice” means the notice of a proposed transfer of Shares described in
Section 5(a). 
 (bb) “Transferee” means any person to whom you have directly or indirectly transferred
any Shares acquired under this Agreement. 
 (cc) “Vesting Date” means the first date on or before the
Expiration Date upon which both the Time-Based Requirement and the Liquidity Event Requirement are satisfied.EX-10.3

 Exhibit 10.3 
 VIOLIN MEMORY, INC. 
 2012 STOCK INCENTIVE PLAN 

(Adopted by the Board of Directors on October 28, 2012) 

  

VIOLIN MEMORY, INC. 

2012 STOCK INCENTIVE PLAN 

 Table of Contents 

 

									
	 	 	 	  	Page	 
	SECTION 1. ESTABLISHMENT AND PURPOSE	  	 	5	  
		
	SECTION 2. DEFINITIONS	  	 	5	  
				
		 	 (a)
	  	“Affiliate”	  	 	5	  
				
		 	 (b)
	  	“Award”	  	 	5	  
				
		 	 (c)
	  	“Award Agreement”	  	 	5	  
				
		 	 (d)
	  	“Board of Directors”	  	 	5	  
				
		 	 (e)
	  	“Cash-Based Award”	  	 	5	  
				
		 	 (f)
	  	“Change in Control”	  	 	5	  
				
		 	 (g)
	  	“Code”	  	 	7	  
				
		 	 (h)
	  	“Committee”	  	 	7	  
				
		 	 (i)
	  	“Company”	  	 	7	  
				
		 	 (j)
	  	“Consultant”	  	 	7	  
				
		 	 (k)
	  	“Employee”	  	 	7	  
				
		 	 (l)
	  	“Exchange Act”	  	 	7	  
				
		 	 (m)
	  	“Exercise Price”	  	 	7	  
				
		 	 (n)
	  	“Fair Market Value”	  	 	7	  
				
		 	 (o)
	  	“ISO”	  	 	8	  
				
		 	 (p)
	  	“Nonstatutory Option”	  	 	8	  
				
		 	 (q)
	  	“Option”	  	 	8	  
				
		 	 (r)
	  	“Outside Director”	  	 	8	  
				
		 	 (s)
	  	“Parent”	  	 	8	  
				
		 	 (t)
	  	“Participant”	  	 	8	  
				
		 	 (u)
	  	“Performance Based Award”	  	 	8	  
				
		 	 (v)
	  	“Plan”	  	 	8	  
				
		 	 (w)
	  	“Purchase Price”	  	 	8	  
				
		 	 (x)
	  	“Restricted Share”	  	 	8	  
				
		 	 (y)
	  	“SAR”	  	 	8	  
				
		 	 (z)
	  	“Service”	  	 	8	  
				
		 	 (aa)
	  	“Share”	  	 	9	  

  

VIOLIN MEMORY, INC. 
 2012 STOCK INCENTIVE PLAN 
 - i -

											
				
		 	 	(bb)	  	  	“Stock”	  	 	9	  
				
		 	 	(cc)	  	  	“Stock Unit”	  	 	9	  
				
		 	 	(dd)	  	  	“Subsidiary”	  	 	9	  
				
		 	 	(ee)	  	  	“Total and Permanent Disability”	  	 	9	  
		
	SECTION 3. ADMINISTRATION	  	 	9	  
				
		 	 	(a)	  	  	Committee Composition	  	 	9	  
				
		 	 	(b)	  	  	Committee for Non-Officer Grants	  	 	9	  
				
		 	 	(c)	  	  	Committee Procedures	  	 	10	  
				
		 	 	(d)	  	  	Committee Responsibilities	  	 	10	  
		
	SECTION 4. ELIGIBILITY	  	 	11	  
				
		 	 	(a)	  	  	General Rule	  	 	11	  
				
		 	 	(b)	  	  	Automatic Grants to Outside Directors	  	 	11	  
				
		 	 	(c)	  	  	Ten-Percent Stockholders	  	 	12	  
				
		 	 	(d)	  	  	Attribution Rules	  	 	13	  
				
		 	 	(e)	  	  	Outstanding Stock	  	 	13	  
		
	SECTION 5. STOCK SUBJECT TO PLAN	  	 	13	  
				
		 	 	(a)	  	  	Basic Limitation	  	 	13	  
				
		 	 	(b)	  	  	Section 162(m) Award Limitation	  	 	13	  
				
		 	 	(c)	  	  	Additional Shares	  	 	14	  
				
		 	 	(d)	  	  	Substitution and Assumption of Awards	  	 	14	  
		
	SECTION 6. RESTRICTED SHARES	  	 	14	  
				
		 	 	(a)	  	  	Restricted Share Award Agreement	  	 	14	  
				
		 	 	(b)	  	  	Payment for Awards	  	 	14	  
				
		 	 	(c)	  	  	Vesting	  	 	14	  
				
		 	 	(d)	  	  	Voting and Dividend Rights	  	 	15	  
				
		 	 	(e)	  	  	Restrictions on Transfer of Shares	  	 	15	  
		
	SECTION 7. TERMS AND CONDITIONS OF OPTIONS	  	 	15	  
				
		 	 	(a)	  	  	Stock Option Award Agreement	  	 	15	  
				
		 	 	(b)	  	  	Number of Shares	  	 	15	  
				
		 	 	(c)	  	  	Exercise Price	  	 	15	  
				
		 	 	(d)	  	  	Withholding Taxes	  	 	15	  
				
		 	 	(e)	  	  	Exercisability and Term	  	 	15	  

  

VIOLIN MEMORY, INC. 
 2012 STOCK INCENTIVE PLAN 
 - ii -

									
				
		 	 (f)
	  	Exercise of Options	  	 	16	  
				
		 	 (g)
	  	Effect of Change in Control	  	 	16	  
				
		 	 (h)
	  	No Rights as a Stockholder	  	 	16	  
				
		 	 (i)
	  	Modification, Extension and Renewal of Options	  	 	16	  
				
		 	 (j)
	  	Restrictions on Transfer of Shares	  	 	16	  
				
		 	 (k)
	  	Buyout Provisions	  	 	16	  
		
	SECTION 8. PAYMENT FOR SHARES	  	 	17	  
				
		 	 (a)
	  	General Rule	  	 	17	  
				
		 	 (b)
	  	Surrender of Stock	  	 	17	  
				
		 	 (c)
	  	Services Rendered	  	 	17	  
				
		 	 (d)
	  	Cashless Exercise	  	 	17	  
				
		 	 (e)
	  	Exercise/Pledge	  	 	17	  
				
		 	 (f)
	  	Net Exercise	  	 	17	  
				
		 	 (g)
	  	Promissory Note	  	 	17	  
				
		 	 (h)
	  	Other Forms of Payment	  	 	17	  
				
		 	 (i)
	  	Limitations under Applicable Law	  	 	18	  
		
	 SECTION 9. STOCK APPRECIATION RIGHTS
	  	 	18	  
				
		 	 (a)
	  	SAR Award Agreement	  	 	18	  
				
		 	 (b)
	  	Number of Shares	  	 	18	  
				
		 	 (c)
	  	Exercise Price	  	 	18	  
				
		 	 (d)
	  	Exercisability and Term	  	 	18	  
				
		 	 (e)
	  	Effect of Change in Control	  	 	18	  
				
		 	 (f)
	  	Exercise of SARs	  	 	18	  
				
		 	 (g)
	  	Modification or Assumption of SARs	  	 	19	  
				
		 	 (h)
	  	Buyout Provisions	  	 	19	  
		
	SECTION 10. STOCK UNITS	  	 	19	  
				
		 	 (a)
	  	Stock Unit Award Agreement	  	 	19	  
				
		 	 (b)
	  	Payment for Awards	  	 	19	  
				
		 	 (c)
	  	Vesting Conditions	  	 	19	  
				
		 	 (d)
	  	Voting and Dividend Rights	  	 	19	  
				
		 	 (e)
	  	Form and Time of Settlement of Stock Units	  	 	19	  
				
		 	 (f)
	  	Death of Participant	  	 	20	  

  

VIOLIN MEMORY, INC. 
 2012 STOCK INCENTIVE PLAN 
 - iii -

									
				
		 	(g)	  	 Creditors’ Rights
	  	 	20	  
		
	 SECTION 11. CASH-BASED AWARDS
	  	 	20	  
		
	 SECTION 12. ADJUSTMENT OF SHARES
	  	 	20	  
				
		 	(a)	  	Adjustments	  	 	20	  
				
		 	(b)	  	Dissolution or Liquidation	  	 	21	  
				
		 	(c)	  	Reorganizations	  	 	21	  
				
		 	(d)	  	Reservation of Rights	  	 	22	  
		
	 SECTION 13. DEFERRAL OF AWARDS
	  	 	22	  
				
		 	(a)	  	Committee Powers	  	 	22	  
				
		 	(b)	  	General Rules	  	 	22	  
		
	 SECTION 14. AWARDS UNDER OTHER PLANS
	  	 	23	  
		
	 SECTION 15. PAYMENT OF DIRECTOR’S FEES IN SECURITIES
	  	 	23	  
				
		 	(a)	  	Effective Date	  	 	23	  
				
		 	(b)	  	Elections to Receive NSOs, SARs, Restricted Shares or Stock Units	  	 	23	  
				
		 	(c)	  	Number and Terms of NSOs, SARs, Restricted Shares or Stock Units	  	 	23	  
		
	 SECTION 16. LEGAL AND REGULATORY REQUIREMENTS
	  	 	23	  
		
	 SECTION 17. TAXES
	  	 	23	  
				
		 	(a)	  	Withholding Taxes	  	 	23	  
				
		 	(b)	  	Share Withholding	  	 	24	  
				
		 	(c)	  	Section 409A	  	 	24	  
		
	 SECTION 18. TRANSFERABILITY
	  	 	24	  
		
	 SECTION 19. PERFORMANCE BASED AWARDS
	  	 	24	  
		
	 SECTION 20. NO EMPLOYMENT RIGHTS
	  	 	26	  
		
	 SECTION 21. DURATION AND AMENDMENTS
	  	 	26	  
				
		 	(a)	  	Term of the Plan	  	 	26	  
				
		 	(b)	  	Right to Amend the Plan	  	 	26	  
				
		 	(c)	  	Effect of Termination	  	 	26	  
		
	 SECTION 22. EXECUTION
	  	 	27	  

  

VIOLIN MEMORY, INC. 
 2012 STOCK INCENTIVE PLAN 
 - iv -

 VIOLIN MEMORY, INC. 

2012 STOCK INCENTIVE PLAN 

SECTION 1. ESTABLISHMENT AND PURPOSE. 
 The Plan was adopted by the Board of Directors on October 28, 2012, and shall be effective immediately prior to the closing of the initial offering of Stock to the public pursuant to a
registration statement filed by the Company with the Securities and Exchange Commission (the “Effective Date”). 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), stock appreciation rights or cash-based awards. 
 SECTION
2. DEFINITIONS. 
 (a) “Affiliate” shall mean any entity other than a Subsidiary, if the Company and/or
one or more Subsidiaries own not less than 50% of such entity. 
 (b) “Award” shall mean any award of an
Option, a SAR, a Restricted Share or a Stock Unit or a Cash-Based Award under the Plan. 
 (c) “Award
Agreement” shall mean the agreement between the Company and the recipient of an Award which contains the terms, conditions and restrictions pertaining to such Award. 
 (d) “Board of Directors” or “Board” shall mean the Board of Directors of the Company, as constituted from time to time. 

(e) “Cash-Based Award” shall mean an Award that entitles the Participant to receive a cash-denominated payment.

 (f) “Change in Control” shall mean the occurrence of any of the following events: 

 

	 	(i)	A change in the composition of the Board of Directors occurs, as a result of which fewer than one-half of the incumbent directors are directors who either:

  

	 	(A)	Had been directors of the Company on the “look-back date” (as defined below) (the “original directors”); or 

  

VIOLIN MEMORY, INC. 
 2012 STOCK INCENTIVE PLAN 
 - 5 -

	 	(B)	Were elected, or nominated for election, to the Board of Directors with the affirmative votes of at least a majority of the aggregate of the original directors who were
still in office at the time of the election or nomination and the directors whose election or nomination was previously so approved (the “continuing directors”); 

 

	 	    	provided, however, that for this purpose, the “original directors” and “continuing directors” shall not include any individual whose initial
assumption of office occurred as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents, by or on behalf of a person other than the
Board; or 

  

	 	(ii)	Any “person” (as defined below) who by the acquisition or aggregation of securities, is or becomes the “beneficial owner” (as defined in Rule 13d-3
under the Exchange Act), directly or indirectly, of securities of the Company representing 50% or more of the combined voting power of the Company’s then outstanding securities ordinarily (and apart from rights accruing under special
circumstances) having the right to vote at elections of directors (the “Base Capital Stock”); except that any change in the relative beneficial ownership of the Company’s securities by any person resulting solely from a reduction in
the aggregate number of outstanding shares of Base Capital Stock, and any decrease thereafter in such person’s ownership of securities, shall be disregarded until such person increases in any manner, directly or indirectly, such person’s
beneficial ownership of any securities of the Company; or 

  

	 	(iii)	The consummation of a merger or consolidation of the Company or a Subsidiary 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 (A) the Company (or its successor) and (B) any direct or indirect parent corporation of the Company (or its successor); or 

  

	 	(iv)	The sale, transfer or other disposition of all or substantially all of the Company’s assets. 

For purposes of subsection (e)(i) above, the term “look-back” date shall mean the later of (1) the Effective Date or
(2) the date 24 months prior to the date of the event that may constitute a Change in Control. 
 For purposes of
subsection (e)(ii)) above, 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 (1) a trustee or other fiduciary holding securities under an employee benefit plan
maintained by the Company or a Parent or Subsidiary and (2) a corporation owned directly or indirectly by the stockholders of the Company in substantially the same proportions as their ownership of the Stock. 

  

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 Any other provision of this Section 2(e) notwithstanding, 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, and a Change in Control shall not be deemed to occur if the Company files a registration statement with the United States Securities and Exchange Commission for the initial or secondary public offering
of securities or debt of the Company to the public. 
 (g) “Code” shall mean the Internal Revenue Code of 1986,
as amended. 
 (h) “Committee” shall mean the Compensation Committee as designated by the Board of Directors,
which is authorized to administer the Plan, as described in Section 3 hereof. 
 (i) “Company” shall mean
Violin Memory, Inc., a Delaware corporation. 
 (j) “Consultant” shall mean a consultant or advisor who
provides bona fide services to the Company, a Parent, a Subsidiary or an Affiliate as an independent contractor (not including service as a member of the Board of Directors) or a member of the board of directors of a Parent or a Subsidiary, in each
case who is not an Employee. 
 (k) “Employee” shall mean any individual who is a common-law employee of the
Company, a Parent, a Subsidiary or an Affiliate. 
 (l) “Exchange Act” shall mean the Securities Exchange Act
of 1934, as amended. 
 (m) “Exercise Price” shall mean, in the case of an Option, the amount for which one
Share may be purchased upon exercise of such Option, as specified in the applicable Stock Option Agreement. “Exercise Price,” in the case of a SAR, shall mean an amount, as specified in the applicable SAR Agreement, which is subtracted
from the Fair Market Value of one Share in determining the amount payable upon exercise of such SAR. 
 (n) “Fair Market
Value” with respect to a Share, shall mean the market price of one Share, determined by the Committee as follows: 
  

	 	(i)	If the Stock was traded over-the-counter on the date in question, then the Fair Market Value shall be equal to the last transaction price quoted for such date by the
OTC Bulletin Board or, if not so quoted, shall be equal to the mean between the last reported representative bid and asked prices quoted for such date by the principal automated inter-dealer quotation system on which the Stock is quoted or, if the
Stock is not quoted on any such system, by the Pink Quote system; 

  

	 	(ii)	If the Stock was traded on any established stock exchange (such as the New York Stock Exchange, The Nasdaq Global Market or The Nasdaq Global Select Market) or national
market system on the date in question, then the Fair Market Value shall be equal to the closing price reported for such date by the applicable exchange or system; and 

  

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	 	(iii)	If none of the foregoing provisions is applicable, then the Fair Market Value shall be determined by the Committee in good faith on such basis as it deems appropriate.

 In all cases, the determination of Fair Market Value by the Committee shall be conclusive and binding on all
persons. 
 (o) “ISO” shall mean an employee incentive stock option described in Section 422 of the Code.

 (p) “Nonstatutory Option” or “NSO” shall mean an employee stock option that is not
an ISO. 
 (q) “Option” shall mean an ISO or Nonstatutory Option granted under the Plan and entitling the
holder to purchase Shares. 
 (r) “Outside Director” shall mean a member of the Board of Directors who is not a
common-law employee of, or paid consultant to, the Company, a Parent or a Subsidiary. 
 (s) “Parent” shall
mean 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 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 a Parent commencing as of such date. 
 (t) “Participant” shall mean a person who holds an Award.

 (u) “Performance Based Award” shall mean any Restricted Share Award, Stock Unit Award or Cash-Based Award
granted to a Participant that is intended to qualify as “performance-based compensation” under Section 162(m) of the Code. 
 (v) “Plan” shall mean this 2012 Stock Incentive Plan of Violin Memory, Inc., as amended from time to time. 
 (w) “Purchase Price” shall mean the consideration for which one Share may be acquired under the Plan (other than upon exercise of an Option), as specified by the Committee. 

(x) “Restricted Share” shall mean a Share awarded under the Plan. 

(y) “SAR” shall mean a stock appreciation right granted under the Plan. 

(z) “Service” shall mean service as an Employee, Consultant or Outside Director, subject to such further limitations as
may be set forth in the Plan or the applicable Award Agreement. Service does not terminate when an Employee goes on a bona fide leave of absence, that was approved by the Company in writing, if the terms of the leave provide for continued Service
crediting, or when continued Service crediting is required by applicable law. However, for purposes of determining whether an Option is entitled to ISO status, an Employee’s employment will be treated as terminating three months after such
Employee went on leave, 

  

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 unless such Employee’s right to return to active work is guaranteed by law or by a contract. Service
terminates in any event when the approved leave ends, unless such Employee immediately returns to active work. The Company determines which leaves of absence count toward Service, and when Service terminates for all purposes under the Plan.

 (aa) “Share” shall mean one share of Stock, as adjusted in accordance with Section 12 (if applicable).

 (bb) “Stock” shall mean the Common Stock of the Company. 

(cc) “Stock Unit” shall mean a bookkeeping entry representing the Company’s obligation to deliver one Share (or
distribute cash) on a future date in accordance with the provisions of a Stock Unit Award Agreement. 
 (dd)
“Subsidiary” shall mean any corporation, if the Company and/or one or more other Subsidiaries own not less than 50% of the total combined voting power of all classes of outstanding stock of such corporation. 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. 
 (ee) “Total and Permanent Disability” shall mean any permanent and total disability as defined by Section 22(e)(3) of the Code. 

SECTION 3. ADMINISTRATION. 
 (a) Committee Composition. The Plan shall be administered by a Committee appointed by the Board, or by the Board acting as the Committee. The Committee shall consist of two or more directors of the
Company. In addition, to the extent required by the Board, the composition of the Committee shall satisfy (i) 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 (ii) 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. 
 (b) Committee for Non-Officer Grants. The Board may also appoint one or more
separate committees of the Board, each composed of one or more directors of the Company who need not satisfy the requirements of Section 3(a), who may administer the Plan with respect to Employees who are not considered officers or directors of
the Company under Section 16 of the Exchange Act, may grant Awards under the Plan to such Employees and may determine all terms of such grants. Within the limitations of the preceding sentence, any reference in the Plan to the Committee shall
include such committee or committees appointed pursuant to the preceding sentence. To the extent permitted by applicable laws, the Board of Directors may also authorize one or more officers of the Company to designate Employees, other than officers
under Section 16 of the Exchange Act, to receive Awards and/or to determine the number of such Awards to be received by such persons; provided, however, that the Board of Directors shall specify the total number of Awards that such officers may
so award. 

  

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 (c) Committee Procedures. The Board of Directors shall designate one of the members
of the Committee as chairman. The Committee may hold meetings at such times and places as it shall determine. The acts of a majority of the Committee members present at meetings at which a quorum exists, or acts reduced to or approved in writing
(including via email) by all Committee members, shall be valid acts of the Committee. 
 (d) Committee Responsibilities.
Subject to the provisions of the Plan, the Committee shall have full authority and discretion to take the following actions: 
  

	 	(i)	To interpret the Plan and to apply its provisions; 

  

	 	(ii)	To adopt, amend or rescind rules, procedures and forms relating to the Plan; 

 

	 	(iii)	To adopt, amend or terminate sub-plans established for the purpose of satisfying applicable foreign laws including qualifying for preferred tax treatment under
applicable foreign tax laws; 

  

	 	(iv)	To authorize any person to execute, on behalf of the Company, any instrument required to carry out the purposes of the Plan; 

 

	 	(v)	To determine when Awards are to be granted under the Plan; 

  

	 	(vi)	To select the Participants to whom Awards are to be granted; 

  

	 	(vii)	To determine the type of Award and number of Shares or amount of cash to be made subject to each Award; 

 

	 	(viii)	To prescribe the terms and conditions of each Award, including (without limitation) the Exercise Price and Purchase Price, and the vesting or duration of the Award
(including accelerating the vesting of Awards, either at the time of the Award or thereafter, without the consent of the Participant), to determine whether an Option is to be classified as an ISO or as a Nonstatutory Option, and to specify the
provisions of the agreement relating to such Award; 

  

	 	(ix)	To amend any outstanding Award Agreement, subject to applicable legal restrictions and to the consent of the Participant if the Participant’s rights or obligations
would be materially impaired; 

  

	 	(x)	To prescribe the consideration for the grant of each Award or other right under the Plan and to determine the sufficiency of such consideration;

  

	 	(xi)	To determine the disposition of each Award or other right under the Plan in the event of a Participant’s divorce or dissolution of marriage;

  

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	 	(xii)	To determine whether Awards under the Plan will be granted in replacement of other grants under an incentive or other compensation plan of an acquired business;

  

	 	(xiii)	To correct any defect, supply any omission, or reconcile any inconsistency in the Plan or any Award Agreement; 

 

	 	(xiv)	To establish or verify the extent of satisfaction of any performance goals or other conditions applicable to the grant, issuance, exercisability, vesting and/or ability
to retain any Award; and 

  

	 	(xv)	To take any other actions deemed necessary or advisable for the administration of the Plan. 

 Subject to the requirements of applicable law, the Committee may designate persons other than members of the Committee to carry out its responsibilities and may prescribe such conditions and limitations
as it may deem appropriate, except that the Committee may not delegate its authority with regard to the selection for participation of or the granting of Awards under the Plan to persons subject to Section 16 of the Exchange Act. All decisions,
interpretations and other actions of the Committee shall be final and binding on all Participants and all persons deriving their rights from a Participant. No member of the Committee shall be liable for any action that he has taken or has failed to
take in good faith with respect to the Plan or any Award under the Plan. 
 SECTION 4. ELIGIBILITY. 

(a) General Rule. Only Employees, Consultants and Outside Directors shall be eligible for the grant of Awards. Only common-law
employees of the Company, a Parent or a Subsidiary shall be eligible for the grant of ISOs. 
 (b) Automatic Grants to
Outside Directors. 
  

	 	(i)	Each Outside Director who first joins the Board of Directors on or after the Effective Date, and who was not previously an Employee, shall receive a Nonstatutory
Option, subject to approval of the Plan by the Company’s stockholders, to purchase a number of Shares equal to the quotient of (a) $250,000 divided by (b) the per Share fair value of the Option as determined by the Committee based
upon the Black-Scholes or other valuation method used by the Company for financial reporting purposes and calculated as of the date of grant, on the date of his or her election to the Board of Directors. One-third (1/3) of the Shares subject to
each Option granted under this Section 4(b)(i) shall vest and become exercisable on each one-year anniversary of the date of grant. Notwithstanding the foregoing, each such Option shall become vested if the Participant is not re-elected after
standing for re-election at the end of his or her term, or a Change in Control occurs with respect to the Company during the Participant’s Service. 

  

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	 	(ii)	On the first business day following the conclusion of each regular annual meeting of the Company’s stockholders, commencing with the annual meeting occurring after
the Effective Date, each Outside Director who was not elected to the Board for the first time at such meeting and who will continue serving as a member of the Board of Directors thereafter shall receive an Option to purchase a number of shares of
Common Stock equal to the quotient of (a) $150,000 divided by (b) the per share fair value of the option as determined by the Committee based upon the Black-Scholes or other valuation method used by the Company for financial reporting
purposes and calculated as of the date of grant, provided that such Outside Director has served on the Board of Directors for at least six months. Each Option granted under this Section 4(b)(ii) shall vest and become exercisable on the first
anniversary of the date of grant; provided, however, that each such Option shall become exercisable in full immediately prior to the next regular annual meeting of the Company’s stockholders following such date of grant in the event such
meeting occurs prior to such first anniversary date. Notwithstanding the foregoing, each Option granted under this Section 4(b)(ii) shall become vested if a Change in Control occurs with respect to the Company during the Participant’s
Service. 

  

	 	(iii)	The Exercise Price of all Nonstatutory Options granted to an Outside Director under this Section 4(b) shall be equal to 100% of the Fair Market Value of a Share on
the date of grant, payable in one of the forms described in Section 8(a), (b), (d), (e), (f) or (h). 

  

	 	(iv)	All Nonstatutory Options granted to an Outside Director under this Section 4(b) shall terminate on the earlier of (A) the day before the tenth anniversary of
the date of grant of such Options or (B) the date twelve months after the termination of such Outside Director’s Service for any reason; provided, however, that any such Options that are not vested upon the termination of the Outside
Director’s Service as a member of the Board of Directors for any reason shall terminate immediately and may not be exercised. 

  

	 	(v)	The Board of Directors or the Committee in its discretion may change and otherwise revise the terms of the Nonstatutory Options granted to Outside Directors under this
Section 4(b), including, without limitation, the number of Shares subject thereto, the type of Award to be granted under this Section 4(b), for Options or other Awards granted on or after the date the Board of Directors or Committee
determines to make any such change or revision. 

 (c) Ten-Percent Stockholders. An Employee who owns more
than 10% of the total combined voting power of all classes of outstanding stock of the Company, a Parent or Subsidiary shall not be eligible for the grant of an ISO unless such grant satisfies the requirements of Section 422(c)(5) of the Code.

  

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 (d) Attribution Rules. For purposes of Section 4(c) above, in determining stock
ownership, an Employee shall be deemed to own the stock owned, directly or indirectly, by or for such Employee’s brothers, sisters, spouse, ancestors and lineal descendants. Stock owned, directly or indirectly, by or for a corporation,
partnership, estate or trust shall be deemed to be owned proportionately by or for its stockholders, partners or beneficiaries. 

(e) Outstanding Stock. For purposes of Section 4(c) above, “outstanding stock” shall include all stock actually
issued and outstanding immediately after the grant. “Outstanding stock” shall not include shares authorized for issuance under outstanding options held by the Employee or by any other person. 

SECTION 5. STOCK SUBJECT TO PLAN. 
 (a) Basic Limitation. Shares offered under the Plan shall be authorized but unissued Shares or treasury Shares. The aggregate number of Shares authorized for issuance as Awards under the Plan shall
not exceed the sum of (x) 15,000,000 Shares, plus (y) the sum of the number of Shares subject to outstanding awards under the Company’s Amended and Restated 2005 Stock Plan (the “Predecessor Plan”) on the Effective Date that
are subsequently forfeited or terminated for any reason before being exercised or settled, plus the number of Shares subject to vesting restrictions under the Predecessor Plan on the Effective Date that are subsequently forfeited, plus the number of
reserved Shares not issued or subject to outstanding grants under the Predecessor Plan on the Effective Date, plus (z) an annual increase on the first day of each fiscal year, for a period of not more than ten years, beginning on
February 1, 2014, and ending on (and including) February 1, 2022, in an amount equal to the lesser of (i) 5% of the outstanding Shares on the last day of the immediately preceding fiscal or (ii) if the Board acts prior to the
first day of the fiscal year, such lesser amount (including zero) that the Board determines for purposes of the annual increase for that fiscal year. Notwithstanding the foregoing, the number of Shares that may be delivered in the aggregate pursuant
to the exercise of ISOs granted under the Plan shall not exceed 20,000,000 Shares plus, to the extent allowable under Section 422 of the Code and the Treasury Regulations promulgated thereunder, any Shares that become available for issuance
under the Plan pursuant to Section 5(c). The limitations of this Section 5(a) shall be subject to adjustment pursuant to Section 12. The number of Shares that are subject to Awards outstanding at any time under the Plan shall not
exceed the number of Shares which then remain available for issuance under the Plan. The Company shall at all times reserve and keep available sufficient Shares to satisfy the requirements of the Plan. 

(b) Section 162(m) Award Limitation. Notwithstanding any contrary provisions of the Plan, and subject to the provisions of
Section 12, during any time when the transition period relief under Treasury Regulation Section 1.162-27(f)(2) has lapsed or does not apply, and with respect to any Option or SAR intended to qualify as “performance-based
compensation” under Section 162(m) of the Code, no Participant eligible for an Award may receive Options or SARs under the Plan in any calendar year that relate to an aggregate of more than 5,000,000 Shares, and no more than two times this
amount in the first year of employment. To the extent required by Section 162(m) of the Code or the regulations thereunder, in applying the foregoing limitation with respect to a Participant, if any Option or SAR is canceled, the canceled
Option or SAR shall continue to count against the maximum number of Shares with respect to which Options and SARs may be granted to the Participant. For this purpose, the repricing of an Option or SAR shall be treated as the cancellation of the
existing Option or SAR and the grant of a new Option or SAR. 

  

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 (c) Additional Shares. If Restricted Shares or Shares issued upon the exercise of
Options are forfeited, then such Shares shall again become available for Awards under the Plan. If Stock Units, Options or SARs are forfeited or terminate for any reason before being exercised or settled, or an Award is settled in cash without the
delivery of Shares to the holder, then any Shares subject to the Award shall again become available for Awards under the Plan. Only the number of Shares (if any) actually issued in settlement of Awards (and not forfeited) shall reduce the number
available in Section 5(a) and the balance shall again become available for Awards under the Plan. Any Shares withheld to satisfy the grant or exercise price or tax withholding obligation pursuant to any Award shall again become available for
Awards under the Plan. Notwithstanding the foregoing provisions of this Section 5(c), Shares that have actually been issued shall not again become available for Awards under the Plan, except for Shares that are forfeited and do not become
vested. 
 (d) Substitution and Assumption of Awards. The Committee may make Awards under the Plan by assumption,
substitution or replacement of stock options, stock appreciation rights, stock units or similar awards granted by another entity (including a Parent or Subsidiary), if such assumption, substitution or replacement is in connection with an asset
acquisition, stock acquisition, merger, consolidation or similar transaction involving the Company (and/or its Parent or Subsidiary) and such other entity (and/or its affiliate). The terms of such assumed, substituted or replaced Awards shall be as
the Committee, in its discretion, determines is appropriate. Any such substitute or assumed Awards shall not count against the Share limitation set forth in Section 5(a). 
 SECTION 6. RESTRICTED SHARES. 
 (a) Restricted Share Award
Agreement. Each grant of Restricted Shares under the Plan shall be evidenced by a Restricted Share Award Agreement between the Participant 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 Share Award Agreements entered into under the Plan need not be identical. 

(b) Payment for Awards. Restricted Shares may be sold or awarded under the Plan for such consideration as the Committee may
determine, including (without limitation) cash, cash equivalents, full-recourse promissory notes, past services and future services. 
 (c) Vesting. 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
Share Award Agreement. A Restricted Share Award 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. 

  

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 (d) 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 Share Award 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. 
 (e) Restrictions on Transfer of Shares. Restricted Shares shall be subject to such rights of repurchase, rights of first refusal or other restrictions as the Committee may determine. Such
restrictions shall be set forth in the applicable Restricted Share Award Agreement and shall apply in addition to any general restrictions that may apply to all holders of Shares. 
 SECTION 7. TERMS AND CONDITIONS OF OPTIONS. 
 (a) Stock Option Award
Agreement. Each grant of an Option under the Plan shall be evidenced by a Stock Option Award Agreement between the Participant and the Company. Such Option 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 Committee deems appropriate for inclusion in a Stock Option Award Agreement. The Stock Option Award Agreement shall specify whether the Option is an ISO or an NSO.
The provisions of the various Stock Option Award Agreements entered into under the Plan need not be identical. 
 (b) Number
of Shares. Each Stock Option Award Agreement shall specify the number of Shares that are subject to the Option and shall provide for the adjustment of such number in accordance with Section 12. 

(c) Exercise Price. Each Stock Option Award Agreement shall specify the Exercise Price. The Exercise Price of an ISO shall not be
less than 100% of the Fair Market Value of a Share on the date of grant, except as otherwise provided in 4(c), and the Exercise Price of an NSO shall not be less 100% of the Fair Market Value of a Share on the date of grant. Notwithstanding the
foregoing, Options may be granted with an Exercise Price of less than 100% of the Fair Market Value per Share on the date of grant pursuant to a transaction described in, and in a manner consistent with, Section 424(a) of the Code. Subject to
the foregoing in this Section 7(c), the Exercise Price under any Option shall be determined by the Committee in its sole discretion. The Exercise Price shall be payable in one of the forms described in Section 8. 

(d) Withholding Taxes. As a condition to the exercise of an Option, the Participant shall make such arrangements as the Committee
may require for the satisfaction of any federal, state, local or foreign withholding tax obligations that may arise in connection with such exercise. The Participant shall also make such arrangements as the Committee may require for the satisfaction
of any federal, state, local or foreign withholding tax obligations that may arise in connection with the disposition of Shares acquired by exercising an Option. 
 (e) Exercisability and Term. Each Stock Option Award Agreement shall specify the date when all or any installment of the Option is to become exercisable. The Stock Option Award 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 (five years for ISOs granted to 

  

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Employees described in Section 4(c)). A Stock Option Award Agreement may provide for accelerated exercisability in the event of the Participant’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 Participant’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. Subject to the foregoing in this Section 7(e), the Committee at its sole discretion shall determine when all or any installment of an Option is to become exercisable and when an Option is to
expire. 
 (f) Exercise of Options. Each Stock Option Award Agreement shall set forth the extent to which the Participant
shall have the right to exercise the Option following termination of the Participant’s Service with the Company and its Subsidiaries, and the right to exercise the Option of any executors or administrators of the Participant’s estate or
any person who has acquired such Option(s) directly from the Participant by bequest or inheritance. Such provisions shall be determined in the sole discretion of the Committee, need not be uniform among all Options issued pursuant to the Plan, and
may reflect distinctions based on the reasons for termination of Service. 
 (g) Effect of Change in Control. The
Committee may determine, at the time of granting an Option or thereafter, that such Option shall become exercisable as to all or part of the Shares subject to such Option in the event that a Change in Control occurs with respect to the Company.

 (h) No Rights as a Stockholder. A Participant shall have no rights as a stockholder with respect to any Shares covered
by his Option until the date of the issuance of a stock certificate for such Shares. No adjustments shall be made, except as provided in Section 12. 
 (i) Modification, Extension and Renewal of Options. Within the limitations of the Plan, the Committee may modify, extend or renew outstanding options or may accept the cancellation of outstanding
options (to the extent not previously exercised), whether or not granted hereunder, 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, or in return for the grant of a
different Award for the same or a different number of Shares, without stockholder approval. The foregoing notwithstanding, no modification of an Option shall, without the consent of the Participant, materially impair his or her rights or obligations
under such Option. 
 (j) Restrictions on Transfer of Shares. Any Shares issued upon exercise of an Option shall be
subject to such special forfeiture conditions, rights of repurchase, rights of first refusal and other transfer restrictions as the Committee may determine. Such restrictions shall be set forth in the applicable Stock Option Award Agreement and
shall apply in addition to any general restrictions that may apply to all holders of Shares. 
 (k) 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 a Participant 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. 

  

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 SECTION 8. PAYMENT FOR SHARES. 

(a) General Rule. The entire Exercise Price or Purchase Price of Shares issued under the Plan shall be payable in lawful money of
the United States of America at the time when such Shares are purchased, except as provided in Section 8(b) through Section 8(h) below. 
 (b) Surrender of Stock. To the extent that a Stock Option Award Agreement so provides, payment may be made all or in part by surrendering, or attesting to the ownership of, Shares which have
already been owned by the Participant or his representative. Such Shares shall be valued at their Fair Market Value on the date when the new Shares are purchased under the Plan. The Participant shall not surrender, or attest to the ownership of,
Shares 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. 

(c) Services Rendered. At the discretion of the Committee, Shares may be awarded under the Plan in consideration of services
rendered to the Company or a Subsidiary. If Shares are awarded without the payment of a Purchase Price in cash, the Committee shall make a determination (at the time of the Award) of the value of the services rendered by the Participant and the
sufficiency of the consideration to meet the requirements of Section 6(b). 
 (d) Cashless Exercise. To the extent
that a Stock Option Award Agreement so provides, payment may be made all or in part by delivery (on a form prescribed by the Committee) of an irrevocable direction to a securities broker to sell Shares and to deliver all or part of the sale proceeds
to the Company in payment of the aggregate Exercise Price. 
 (e) Exercise/Pledge. To the extent that a Stock Option
Award Agreement so provides, payment may be made all or in part by delivery (on a form prescribed by the Committee) of an irrevocable direction to a securities broker or lender to pledge Shares, as security for a loan, and to deliver all or part of
the loan proceeds to the Company in payment of the aggregate Exercise Price. 
 (f) Net Exercise. To the extent that a
Stock Option Award Agreement so provides, by a “net exercise” arrangement pursuant to which the number of Shares issuable upon exercise of the Option shall be reduced by the largest whole number of Shares having an aggregate Fair Market
Value that does not exceed the aggregate exercise price (plus tax withholdings, if applicable) and any remaining balance of the aggregate exercise price (and/or applicable tax withholdings) not satisfied by such reduction in the number of whole
Shares to be issued shall be paid by the Optionee in cash other form of payment permitted under the Stock Option Agreement. 

(g) Promissory Note. To the extent that a Stock Option Award Agreement or Restricted Share Award Agreement so provides, payment
may be made all or in part by delivering (on a form prescribed by the Company) a full-recourse promissory note. 
 (h) Other
Forms of Payment. To the extent that a Stock Option Award Agreement or Restricted Share Award Agreement so provides, payment may be made in any other form that is consistent with applicable laws, regulations and rules. 

  

VIOLIN MEMORY, INC. 
 2012 STOCK INCENTIVE PLAN 
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 (i) Limitations under Applicable Law. Notwithstanding anything herein or in a Stock
Option Award Agreement or Restricted Share Award Agreement to the contrary, payment may not be made in any form that is unlawful, as determined by the Committee in its sole discretion. 
 SECTION 9. STOCK APPRECIATION RIGHTS. 
 (a) SAR Award Agreement.
Each grant of a SAR under the Plan shall be evidenced by a SAR Award Agreement between the Participant 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 Award Agreements entered into under the Plan need not be identical. 
 (b)
Number of Shares. Each SAR Award Agreement shall specify the number of Shares to which the SAR pertains and shall provide for the adjustment of such number in accordance with Section 12. 

(c) Exercise Price. Each SAR Award Agreement shall specify the Exercise Price. The Exercise Price of a SAR shall not be less than
100% of the Fair Market Value of a Share on the date of grant. Notwithstanding the foregoing, SARs may be granted with an Exercise Price of less than 100% of the Fair Market Value per Share on the date of grant pursuant to a transaction described
in, and in a manner consistent with, Section 424(a) of the Code. Subject to the foregoing in this Section 9(c), the Exercise Price under any SAR shall be determined by the Committee in its sole discretion. 

(d) Exercisability and Term. Each SAR Award Agreement shall specify the date when all or any installment of the SAR is to become
exercisable. The SAR Award Agreement shall also specify the term of the SAR. A SAR Award Agreement may provide for accelerated exercisability in the event of the Participant’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 Participant’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. A 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. A SAR granted under the Plan may provide that it will be exercisable only in the event of a Change in
Control. 
 (e) Effect of Change in Control. The Committee may determine, at the time of granting a SAR or thereafter,
that such SAR shall become fully exercisable as to all Common Shares subject to such SAR in the event that a Change in Control occurs with respect to the Company. 
 (f) Exercise of SARs. Upon exercise of a SAR, the Participant (or any person having the right to exercise the SAR after his or her death) shall receive from the Company (a) Shares,
(b) cash or (c) a combination of Shares and cash, as the Committee shall determine. The amount of cash and/or the Fair Market Value of Shares 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 subject to the SARs exceeds the Exercise Price. 

  

VIOLIN MEMORY, INC. 
 2012 STOCK INCENTIVE PLAN 
 -18-

 (g) Modification or Assumption of SARs. Within the limitations of the Plan, the
Committee may modify, 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, or in return for the grant of a different Award for the same or a different number of Shares, without stockholder approval. The foregoing notwithstanding, no modification of a SAR shall, without the consent of
the holder, materially impair his or her rights or obligations under such SAR. 
 (h) Buyout Provisions. The Committee
may at any time (a) offer to buy out for a payment in cash or cash equivalents a SAR previously granted, or (b) authorize a Participant to elect to cash out a SAR previously granted, in either case at such time and based upon such terms
and conditions as the Committee shall establish. 
 SECTION 10. STOCK UNITS. 

(a) Stock Unit Award Agreement. Each grant of Stock Units under the Plan shall be evidenced by a Stock Unit Award Agreement between
the Participant 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 Award Agreements entered
into under the Plan need not be identical. 
 (b) 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. 
 (c) 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 Award Agreement. A Stock Unit Award 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 a Change
in Control occurs with respect to the Company. 
 (d) 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 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, or in a
combination of both. Prior to distribution, any dividend equivalents which are not paid shall be subject to the same conditions and restrictions (including without limitation, any forfeiture conditions) as the Stock Units to which they attach.

 (e) Form and Time of Settlement of Stock Units. Settlement of vested Stock Units may be made in the form of
(a) cash, (b) Shares 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. 

  

VIOLIN MEMORY, INC. 
 2012 STOCK INCENTIVE PLAN 
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Methods of converting Stock Units into cash may include (without limitation) a method based on the average Fair Market Value of Shares over a series of trading days. A Stock Unit Award Agreement
may provide that vested Stock Units may be settled in a lump sum or in installments. A Stock Unit Award Agreement may provide that 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, subject to compliance with Section 409A of the Code. 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 Section 12. 
 (f) Death of
Participant. Any Stock Unit Award that becomes payable after the Participant’s death shall be distributed to the Participant’s beneficiary or beneficiaries. Each recipient of a Stock Unit 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 Participant’s death. If no beneficiary was
designated or if no designated beneficiary survives the Participant, then any Stock Units Award that becomes payable after the Participant’s death shall be distributed to the Participant’s estate. 

(g) 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 Award Agreement. 
 SECTION 11. CASH-BASED AWARDS 
 The Committee may, in its sole discretion,
grant Cash-Based Awards to any Participant in such number or amount and upon such terms, and subject to such conditions, as the Committee shall determine at the time of grant and specify in an applicable Award Agreement. The Committee shall
determine the maximum duration of the Cash-Based Award, the amount of cash which may be payable pursuant to the Cash-Based Award, the conditions upon which the Cash-Based Award shall become vested or payable, and such other provisions as the
Committee shall determine. Each Cash-Based Award shall specify a cash-denominated payment amount, formula or payment ranges as determined by the Committee. Payment, if any, with respect to a Cash-Based Award shall be made in accordance with the
terms of the Award and may be made in cash or in shares of Stock, as the Committee determines. 
 SECTION 12. ADJUSTMENT OF SHARES.

 (a) Adjustments. In the event of a subdivision of the outstanding Stock, a declaration of a dividend payable in
Shares, a declaration of a dividend payable in a form other than Shares in an amount that has a material effect on the price of Shares, a combination or consolidation of the outstanding Stock (by reclassification or otherwise) into a lesser number
of Shares, a recapitalization, a spin-off or a similar occurrence, the Committee shall make appropriate and equitable adjustments in: 
  

	 	(i)	The number of Shares available for future Awards under Section 5; 

  

VIOLIN MEMORY, INC. 
 2012 STOCK INCENTIVE PLAN 
 -20-

	 	(ii)	The limitations set forth in Sections 5(a) and (b) and Section 19; 

 

	 	(iii)	The number of Shares covered by each outstanding Award; and 

  

	 	(iv)	The Exercise Price under each outstanding Option and SAR. 

 (b) 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.

 (c) Reorganizations. In the event that the Company is a party to a merger or other reorganization, outstanding Awards
shall be subject to the agreement of merger or reorganization. Subject to compliance with Section 409A of the Code, such agreement shall provide for: 
  

	 	(i)	The continuation of the outstanding Awards by the Company, if the Company is a surviving corporation; 

 

	 	(ii)	The assumption of the outstanding Awards by the surviving corporation or its parent or subsidiary; 

 

	 	(iii)	The substitution by the surviving corporation or its parent or subsidiary of its own awards for the outstanding Awards; 

 

	 	(iv)	Immediate vesting, exercisability and settlement of outstanding Awards followed by the cancellation of such Awards upon or immediately prior to the effectiveness of
such transaction; or 

  

	 	(v)	Settlement of the intrinsic value of the outstanding Awards (whether or not then vested or exercisable) in cash or cash equivalents or equity (including cash or equity
subject to deferred vesting and delivery consistent with the vesting restrictions applicable to such Awards or the underlying Shares) followed by the cancellation of such Awards (and, for the avoidance of doubt, if as of the date of the occurrence
of the transaction the Committee determines in good faith that no amount would have been attained upon the exercise of such Award or realization of the Participant’s rights, then such Award may be terminated by the Company without payment); in
each case without the Participant’s consent. Any acceleration of payment of an amount that is subject to section 409A of the Code will be delayed, if necessary, until the earliest time that such payment would be permissible under
Section 409A without triggering any additional taxes applicable under Section 409A. 

 The Company will have no
obligation to treat all Awards, all Awards held by a Participant, or all Awards of the same type, similarly. 

  

VIOLIN MEMORY, INC. 
 2012 STOCK INCENTIVE PLAN 
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 (d) Reservation of Rights. Except as provided in this Section 12, a Participant
shall have no rights by reason of any subdivision or consolidation of shares of stock of any class, the payment of any dividend or any other increase or decrease in the number of shares of stock of any class. Any issue by the Company of shares of
stock of any class, or securities convertible into shares of stock of any class, shall not affect, and no adjustment by reason thereof shall be made with respect to, the number or Exercise Price of Shares subject to an Award. The grant of an Award
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 or consolidate or to dissolve, liquidate, sell or
transfer all or any part of its business or assets. In the event of any change affecting the Shares or the Exercise Price of Shares subject to an Award, including a merger or other reorganization, for reasons of administrative convenience, the
Company in its sole discretion may refuse to permit the exercise of any Award during a period of up to thirty (30) days prior to the occurrence of such event. 
 SECTION 13. DEFERRAL OF AWARDS. 
 (a) Committee Powers. Subject
to compliance with Section 409A of the Code, the Committee (in its sole discretion) may permit or require a Participant to: 
  

	 	(i)	Have cash that otherwise would be paid to such Participant as a result of the exercise of a 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; 

  

	 	(ii)	Have Shares 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

  

	 	(iii)	Have Shares 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 Market Value of such Shares as of the date when
they otherwise would have been delivered to such Participant. 

 (b) General Rules. A deferred compensation
account established under this Section 13 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 Section 13. 

  

VIOLIN MEMORY, INC. 
 2012 STOCK INCENTIVE PLAN 
 -22-

 SECTION 14. AWARDS UNDER OTHER PLANS. 

The Company may grant awards under other plans or programs. Such awards may be settled in the form of Shares issued under this Plan. Such
Shares shall be treated for all purposes under the Plan like Shares issued in settlement of Stock Units and shall, when issued, reduce the number of Shares available under Section 5. 
 SECTION 15. PAYMENT OF DIRECTOR’S FEES IN SECURITIES. 
 (a)
Effective Date. No provision of this Section 15 shall be effective unless and until the Board has determined to implement such provision. 
 (b) Elections to Receive NSOs, SARs, 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, SARs, Restricted Shares or Stock Units, or a combination thereof, as determined by the Board. Alternatively, the Board may mandate payment in any of such alternative forms. Such NSOs, SARs, Restricted Shares and Stock Units shall be
issued under the Plan. An election under this Section 15 shall be filed with the Company on the prescribed form. 
 (c)
Number and Terms of NSOs, SARs, Restricted Shares or Stock Units. The number of NSOs, SARs, 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 terms of such NSOs, SARs, Restricted Shares or Stock Units shall also be determined by the Board. 
 SECTION 16. LEGAL AND REGULATORY REQUIREMENTS. 
 Shares shall not be issued
under the Plan unless the issuance and delivery of such Shares complies with (or is 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 on which the Company’s securities may then be listed, and the Company has obtained the approval or favorable ruling from any governmental agency which
the Company determines is necessary or advisable. The Company shall not be liable to a Participant or other persons as to: (a) the non-issuance or sale of Shares as to which the Company has not obtained from any regulatory body having
jurisdiction the authority deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any Shares under the Plan; and (b) any tax consequences expected, but not realized, by any Participant or other person due to the
receipt, exercise or settlement of any Award granted under the Plan. 
 SECTION 17. TAXES. 

(a) Withholding Taxes. 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 or make any cash payment under the
Plan until such obligations are satisfied. 

  

VIOLIN MEMORY, INC. 
 2012 STOCK INCENTIVE PLAN 
 -23-

 (b) Share Withholding. The Committee may permit a Participant to satisfy all or part
of his or her withholding or income tax obligations by having the Company withhold all or a portion of any Shares that otherwise would be issued to him or her or by surrendering all or a portion of any Shares that he or she previously acquired. Such
Shares shall be valued at their Fair Market Value on the date when taxes otherwise would be withheld in cash. In no event may a Participant have Shares withheld that would otherwise be issued to him or her in excess of the number necessary to
satisfy the minimum legally required tax withholding. 
 (c) Section 409A. 

Each Award that provides for “nonqualified deferred compensation” within the meaning of Section 409A of the Code shall be
subject to such additional rules and requirements as specified by the Committee from time to time in order to comply with Section 409A. If any amount under such an Award is payable upon a “separation from service” (within the meaning
of Section 409A) to a Participant who is then considered a “specified employee” (within the meaning of Section 409A), then no such payment shall be made prior to the date that is the earlier of (i) six months and one day
after the Participant’s separation from service, or (ii) the Participant’s death, but only to the extent such delay is necessary to prevent such payment from being subject to interest, penalties and/or additional tax imposed pursuant
to Section 409A. In addition, the settlement of any such Award may not be accelerated except to the extent permitted by Section 409A. 

SECTION 18. TRANSFERABILITY. 
 Unless the agreement evidencing an Award (or an amendment thereto authorized by the Committee) expressly provides otherwise, no Award granted under this Plan, nor any interest in such Award, may be sold,
assigned, conveyed, gifted, pledged, hypothecated or otherwise transferred in any manner (prior to the vesting and lapse of any and all restrictions applicable to Shares issued under such Award), other than by will or the laws of descent and
distribution; provided, however, that an ISO may be transferred or assigned only to the extent consistent with Section 422 of the Code. Any purported assignment, transfer or encumbrance in violation of this Section 18 shall be void and
unenforceable against the Company. 
 SECTION 19. PERFORMANCE BASED AWARDS. 

The number of Shares or other benefits granted, issued, retainable and/or vested under an Award may be made subject to the attainment of
performance goals. The Committee may utilize any performance criteria selected by it in its sole discretion to establish performance goals; provided, however, that in the case of any Performance Based Award, the following conditions shall apply:

  

	 	(i)	 The amount potentially available under a Performance Based Award shall be subject to the attainment of pre-established, objective performance goals
relating to a specified period of service based on one or more of the 

  

VIOLIN MEMORY, INC. 
 2012 STOCK INCENTIVE PLAN 
 -24-

	 	
following performance criteria: (a) cash flow, (b) earnings per share, (c) earnings before interest, taxes and amortization, (d) return on equity, (e) total stockholder
return, (f) share price performance, (g) return on capital, (h) return on assets or net assets, (i) revenue, (j) income or net income, (k) operating income or net operating income, (l) operating profit or net
operating profit, (m) operating margin or profit margin, (n) return on operating revenue, (o) return on invested capital, (p) market segment shares, (q) costs, (r) expenses, (s) regulatory body approval for
commercialization of a product, or (t) implementation or completion of critical projects or contracts (“Qualifying Performance Criteria”), any of which may be measured either individually, alternatively or in any combination, applied
to either the Company as a whole or to a business unit or Subsidiary, either individually, alternatively or in any combination, and measured either annually or cumulatively over a period of years, on an absolute basis or relative to a
pre-established target, to previous years’ results or to a designated comparison group or index, in each case as specified by the Committee in the Award; 

 

	 	(ii)	Unless specified otherwise by the Committee at the time the performance goals are established or otherwise within the time prescribed by Section 162(m) of the
Code, the Committee shall appropriately adjust the method of evaluating performance under a Qualifying Performance Criteria for a performance period as follows: (i) to exclude asset write-downs, (ii) to exclude litigation or claim
judgments or settlements, (iii) to exclude the effect of changes in tax law, accounting principles or other such laws or provisions affecting reported results, (iv) to exclude accruals for reorganization and restructuring programs,
(v) to exclude any extraordinary nonrecurring items as determined under generally accepted accounting principles and/or described in managements’ discussion and analysis of financial condition and results of operations appearing in the
Company’s annual report to stockholders for the applicable year, (vi) to exclude the dilutive effects of acquisitions or joint ventures, (vii) to assume that any business divested by the Company achieved performance objectives at
targeted levels during the balance of a performance period following such divestiture, (viii) to exclude the effect of any change in the outstanding shares of common stock of the Company by reason of any stock dividend or split, stock
repurchase, reorganization, recapitalization, merger, consolidation, spin-off, combination or exchange of shares or other similar corporate change, or any distributions to common stockholders other than regular cash dividends, (ix) to exclude
the effects of stock based compensation and the award of bonuses under the Company’s bonus plans; and (x) to exclude costs incurred in connection with potential acquisitions or divestitures that are required to be expensed under generally
accepted accounting principles, in each case in compliance with Section 162(m); 

  

VIOLIN MEMORY, INC. 
 2012 STOCK INCENTIVE PLAN 
 -25-

	 	(iii)	 The Committee shall establish the applicable performance goals in writing and an objective method for determining the Award earned by a Participant if
the goals are attained, while the outcome is substantially uncertain and not later than the 90th day of the performance period (but in no event after 25% of the period of service with respect to which the performance goals relate has elapsed), and shall determine and certify in writing, for each
Participant, the extent to which the performance goals have been met prior to payment or vesting of the Award; and 

  

	 	(iv)	The Committee may not in any event increase the amount of compensation payable under the Plan upon the attainment of the pre-established performance goals to a
Participant who is a “covered employee” within the meaning of Section 162(m) of the Code. 

  

	 	(v)	The maximum aggregate number of Shares that may be subject to Performance Based Awards granted to a Participant in any calendar year is 5,000,000 Shares, and no more
than two times this amount in the first year of employment (subject to adjustment under Section 12), and the maximum aggregate amount of cash that may be payable to a Participant under Performance Based Awards granted to a Participant in any
calendar year that are Cash-Based Awards is $10,000,000. 

 SECTION 20. NO EMPLOYMENT RIGHTS. 

No provision of the Plan, nor any Award granted under the Plan, shall be construed to give any person any right to become, to be treated
as, or to remain an Employee or Consultant. The Company and its Subsidiaries reserve the right to terminate any person’s Service at any time and for any reason, with or without notice. 
 SECTION 21. DURATION AND AMENDMENTS. 
 (a) Term of the Plan. The
Plan, as set forth herein, shall come into existence on the date of its adoption by the Board of Directors; provided, however, that no Award may be granted hereunder prior to the Effective Date. The Board of Directors may suspend or terminate the
Plan at any time. No ISOs may be granted after the tenth anniversary of the earlier of (i) the date the Plan is adopted by the Board of Directors, or (ii) the date the Plan is approved the stockholders of the Company. 

(b) Right to Amend the Plan. The Board of Directors may amend the Plan at any time and from time to time. Rights and obligations
under any Award granted before amendment of the Plan shall not be materially impaired by such amendment, except with consent of the Participant. 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. 
 (c) Effect of Termination. No Awards shall be granted under
the Plan after the termination thereof. The termination of the Plan shall not affect Awards previously granted under the Plan. 

  

VIOLIN MEMORY, INC. 
 2012 STOCK INCENTIVE PLAN 
 -26-

 SECTION 22. EXECUTION. 
 To record the adoption of the Plan by the Board of Directors, the Company has caused its authorized officer to execute the same. 

 

			
	VIOLIN MEMORY, INC.
		
	By	 	 
		
	Name	 	 
		
	Title	 	 

  

VIOLIN MEMORY, INC. 
 2012 STOCK INCENTIVE PLAN 
 - 27-

 VIOLIN MEMORY, INC. 

2012 STOCK INCENTIVE PLAN 
 NOTICE OF STOCK OPTION GRANT 
 You have been granted the following Option
to purchase Common Stock of Violin Memory, Inc. (the “Company”) under the Company’s 2012 Stock Incentive Plan (the “Plan”): 
  

			
	Name of Optionee:	  	[Name of Optionee]
		
	Total Number of Option Shares Granted:	  	[Total Number of Shares]
		
	Type of Option:	  	 ̈ Incentive Stock Option
		
		  	 ̈ Nonstatutory Stock Option
		
	Exercise Price Per Share:	  	$                     
		
	Grant Date:	  	[Date of Grant]
		
	Vesting Commencement Date:	  	[Vesting Commencement Date]
		
	Vesting Schedule:	  	[This Option becomes exercisable with respect to the first 1/4th of the Shares subject to this Option when you complete 12 months of continuous Service as an Employee or a
Consultant from the Vesting Commencement Date. Thereafter, this Option becomes exercisable with respect to an additional 1/48th of the Shares subject to this Option when you complete each additional month of such Service.] [Vesting TBD by Bd or
comm.]
		
	Expiration Date:	  	[Expiration Date] This Option expires earlier if your Service terminates earlier, as described in the Stock Option Agreement.

 By your signature and the signature of the Company’s representative below, you and the Company
agree that this Option is granted under and governed by the term and conditions of the Plan and the Stock Option Agreement (the “Agreement”), both of which are attached to and made a part of this document. 

By signing this document you further agree that the Company may deliver by e-mail all documents relating to the Plan or this Award
(including without limitation, prospectuses required by the Securities and Exchange Commission) and all other documents that the Company is required to deliver to its security holders (including without limitation, annual reports and proxy
statements). You also agree that the Company may deliver these documents by posting them on a website maintained by the Company or by a third party under contract with the Company. If the Company posts these documents on a website, it will notify
you by e-mail. 
  

							
	OPTIONEE:	 		 	VIOLIN MEMORY, INC.
				
		 		 	By:	 	 
	 Optionee’s Signature
	 		 		 	
				
		 		 	Title:	 	 
	 Optionee’s Printed Name
	 		 		 	

  

VIOLIN MEMORY, INC. 
 NOTICE OF STOCK OPTION GRANT 
 - 1 - 

 VIOLIN MEMORY, INC. 

2012 STOCK INCENTIVE PLAN 
 STOCK OPTION AGREEMENT 
  

			
	Tax Treatment    	  	This Option is intended to be an incentive stock option under Section 422 of the Internal Revenue Code or a nonstatutory option, as provided in the Notice of Stock Option Grant.
Even if this Option is designated as an incentive stock option, it shall be deemed to be a nonstatutory option to the extent required by the $100,000 annual limitation under Section 422(d) of the Internal Revenue Code.
		
	Vesting	  	This Option becomes exercisable in installments, as shown in the Notice of Stock Option Grant. This Option will in no event become exercisable for additional Shares after your
Service as an Employee or a Consultant has terminated for any reason.
		
	Term	  	This Option expires in any event at the close of business at Company headquarters on the day before the 10th anniversary of the Grant Date, as shown on the Notice of Stock Option
Grant (fifth anniversary for a more than 10% shareholder as provided under the Plan if this is an incentive stock option). This Option may expire earlier if your Service terminates, as described below.
		
	Regular Termination    	  	If your Service terminates for any reason except death or “Total and Permanent Disability” (as defined in the Plan), then this Option will expire at the close of business
at Company headquarters on the date three (3) months after the date your Service terminates (or, if earlier, the Expiration Date). The Company determines when your Service terminates for this purpose and all purposes under the Plan and its
determinations are conclusive and binding on all persons.
		
	Death	  	If your Service terminates because of death, then this Option will expire at the close of business at Company headquarters on the date 12 months after the date your Service
terminates (or, if earlier, the Expiration Date). During that period of up to 12 months, your estate or heirs may exercise the Option.
		
	Disability	  	If your Service terminates because of your Total and Permanent Disability, then this Option will expire at the close of business at Company headquarters on the date 12 months after
the date your Service terminates (or, if earlier, the Expiration Date).

  

VIOLIN MEMORY, INC. 
 STOCK OPTION AGREEMENT 
 - 1 -

			
	Leaves of Absence	  	For purposes of this Option, your Service does not terminate when you go on a military leave, a sick leave or another bona fide leave of absence, if the leave was approved by the
Company in writing and if continued crediting of Service is required by the terms of the leave or by applicable law. But your Service terminates when the approved leave ends, unless you immediately return to active work.
		
		  	If you go on a leave of absence, then the vesting schedule specified in the Notice of Stock Option Grant may be adjusted in accordance with the Company’s leave of absence
policy or the terms of your leave. If you commence working on a part-time basis, then the vesting schedule specified in the Notice of Stock Option Grant may be adjusted in accordance with the Company’s part-time work policy or the terms of an
agreement between you and the Company pertaining to your part-time schedule.
		
	Restrictions on Exercise    	  	The Company will not permit you to exercise this Option if the issuance of Shares at that time would violate any law or regulation. The inability of the Company to obtain approval
from any regulatory body having authority deemed by the Company to be necessary to the lawful issuance and sale of the Company stock pursuant to this Option shall relieve the Company of any liability with respect to the non-issuance or sale of the
Company stock as to which such approval shall not have been obtained.
		
	Notice of Exercise	  	When you wish to exercise this Option you must provide a notice of exercise form in accordance with such procedures as are established by the Company and communicated to you from
time to time. Any notice of exercise must specify how many Shares you wish to purchase and how your Shares should be registered. The notice of exercise will be effective when it is received by the Company. If someone else wants to exercise this
Option after your death, that person must prove to the Company’s satisfaction that he or she is entitled to do so.
		
	Form of Payment	  	When you submit your notice of exercise, you must include payment of the Option exercise price for the Shares you are purchasing. Payment may be made in the following
form(s):
		
		  	 •    Your personal check, a cashier’s check or a money order.

  

VIOLIN MEMORY, INC. 
 STOCK OPTION AGREEMENT 
 - 2 -

			
		 	 •     Certificates for Shares that you own, along with any forms needed to effect a transfer of
those Shares to the Company. The value of the Shares, determined as of the effective date of the Option exercise, will be applied to the Option exercise price. Instead of surrendering Shares, you may attest to the ownership of those Shares on a form
provided by the Company and have the same number of Shares subtracted from the Shares issued to you upon exercise of the Option. However, you may not surrender or attest to the ownership of Shares in payment of the exercise price if your action
would cause the Company to recognize a compensation expense (or additional compensation expense) with respect to this Option for financial reporting purposes.

		
		 	 •     By delivery on a form approved by the Company of an irrevocable direction to a securities
broker approved by the Company to sell all or part of the Shares that are issued to you when you exercise this Option and to deliver to the Company from the sale proceeds an amount sufficient to pay the Option exercise price and any withholding
taxes. The balance of the sale proceeds, if any, will be delivered to you. The directions must be given by providing a notice of exercise form approved by the Company.

		
		 	 •     By delivery on a form approved by the Company of an irrevocable direction to a securities
broker or lender approved by the Company to pledge Shares that are issued to you when you exercise this Option as security for a loan and to deliver to the Company from the loan proceeds an amount sufficient to pay the Option exercise price and any
withholding taxes. The directions must be given by providing a notice of exercise form approved by the Company.

		
		 	 •     If permitted by the Committee, by a “net exercise” arrangement pursuant to which
the number of Shares issuable upon exercise of the Option shall be reduced by the largest whole number of Shares having an aggregate Fair Market Value that does not exceed the aggregate exercise price (plus tax withholdings, if applicable) and any
remaining balance of the aggregate exercise price (and/or applicable tax withholdings) not satisfied by such reduction in the number of whole Shares to be issued shall be paid by you in cash other form of payment permitted under this Option. The
directions must be given by providing a notice of exercise form approved by the Company.

		
		 	 •     Any other form permitted by the Committee in its sole discretion.

		
		 	Notwithstanding the foregoing, payment may not be made in any form that is unlawful, as determined by the Committee in its sole discretion.
		
	Withholding Taxes and Stock Withholding    	 	Regardless of any action the Company or your actual employer (the “Employer”) takes with respect to any or all income tax, social insurance, payroll tax, payment on
account or other tax-related withholding (“Tax-Related Items”), you acknowledge that the ultimate liability for all Tax-Related Items legally due by you is and remains your responsibility
and

  

VIOLIN MEMORY, INC. 
 STOCK OPTION AGREEMENT 
 - 3 -

			
		 	 that the Company and/or the Employer (1) make no representations or undertakings regarding the treatment of any Tax-Related Items
in connection with any aspect of the Option grant, including the grant, vesting or exercise of the Option, the subsequent sale of Shares acquired pursuant to such exercise and the receipt of any dividends; and (2) do not commit to structure the
terms of the grant or any aspect of the Option to reduce or eliminate your liability for Tax-Related Items.
  
 Prior to exercise of the Option, you shall pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all withholding and payment on account obligations of the Company
and/or the Employer. In this regard, you authorize the Company and/or the Employer to withhold all applicable Tax-Related Items legally payable by you from your wages or other cash compensation paid to you by the Company and/or the Employer. With
the Company’s consent, these arrangements may also include, if permissible under local law, (a) withholding Shares that otherwise would be issued to you when you exercise this Option, provided that the Company only withholds the amount of
Shares necessary to satisfy the minimum statutory withholding amount, (b) having the Company withhold taxes from the proceeds of the sale of the Shares, either through a voluntary sale or through a mandatory sale arranged by the Company (on your
behalf pursuant to this authorization), or (c) any other arrangement approved by the Company. The Fair Market Value of these Shares, determined as of the effective date of the Option exercise, will be applied as a credit against the withholding
taxes. Finally, you shall pay to the Company or the Employer any amount of Tax-Related Items that the Company or the Employer may be required to withhold as a result of your participation in the Plan or your purchase of Shares that cannot be
satisfied by the means previously described. The Company may refuse to honor the exercise and refuse to deliver the Shares if you fail to comply with your obligations in connection with the Tax-Related Items as described in this
section.

		
	Restrictions on Resale    	 	You agree not to sell any Shares at a time when applicable laws, Company policies or an agreement between the Company and its underwriters prohibit a sale. This restriction will
apply as long as your Service continues and for such period of time after the termination of your Service as the Company may specify.
		
	Transfer of Option	 	In general, only you can exercise this Option prior to your death. You may not sell, transfer, assign, pledge or otherwise dispose of this Option, other than as designated by you by
will or by the laws of descent and distribution, except as provided below. For instance, you may not use this Option as security for a loan. If you attempt to do any of these things, this Option will immediately become invalid. You may in any event
dispose of this Option in your will. Regardless of any marital property settlement agreement, the Company is not obligated to honor a notice of exercise from your former spouse, nor is the Company obligated to recognize your former spouse’s
interest in your Option in any other way.

  

VIOLIN MEMORY, INC. 
 STOCK OPTION AGREEMENT 
 - 4 -

			
		  	However, if this Option is designated as a nonstatutory stock option in the Notice of Stock Option Grant, then the Committee may, in its sole discretion, allow you to transfer this
Option as a gift to one or more family members. For purposes of this Agreement, “family member” means a child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law,
father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law (including adoptive relationships), any individual sharing your household (other than a tenant or employee), a trust in which one or more of these individuals have more
than 50% of the beneficial interest, a foundation in which you or one or more of these persons control the management of assets, and any entity in which you or one or more of these persons own more than 50% of the voting interest.
		
		  	In addition, if this Option is designated as a nonstatutory stock option in the Notice of Stock Option Grant, then the Committee may, in its sole discretion, allow you to transfer
this option to your spouse or former spouse pursuant to a domestic relations order in settlement of marital property rights.
		
		  	The Committee will allow you to transfer this Option only if both you and the transferee(s) execute the forms prescribed by the Committee, which include the consent of the
transferee(s) to be bound by this Agreement.
		
	Retention Rights	  	Neither your Option nor this Agreement gives you the right to be employed or retained by the Company or a subsidiary of the Company in any capacity. The Company and its subsidiaries
reserve the right to terminate your Service at any time, with or without cause.
		
	Shareholder Rights	  	Your Options carry neither voting rights nor rights to dividends. You, or your estate or heirs, have no rights as a shareholder of the Company unless and until you have exercised
this Option by giving the required notice to the Company and paying the exercise price. No adjustments will be made for dividends or other rights if the applicable record date occurs before you exercise this Option, except as described in the
Plan.
		
	Adjustments	  	The number of Shares covered by this Option and the exercise price per Share shall be subject to adjustment in the event of a stock split, a stock dividend or a similar change in
Company Shares, and in other circumstances, as set forth in the Plan.
		
	Successors and Assigns    	  	Except as otherwise provided in the Plan or this Agreement, every term of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective
heirs, legatees, legal representatives, successors, transferees and assigns.

  

VIOLIN MEMORY, INC. 
 STOCK OPTION AGREEMENT 
 - 5 -

			
	Notice	  	Any notice required or permitted under this Agreement shall be given in writing and shall be deemed effectively given upon the earliest of personal delivery, receipt or the third
full day following mailing with postage and fees prepaid, addressed to the other party hereto at the address last known in the Company’s records or at such other address as such party may designate by ten (10) days’ advance written notice
to the other party hereto.
		
	Applicable Law    	  	This Agreement will be interpreted and enforced under the laws of the State of California (without regard to their choice-of-law provisions).
		
	Miscellaneous	  	 You understand and acknowledge that (i) the Plan is entirely discretionary, (ii) the Company and your employer have reserved the right
to amend, suspend or terminate the Plan at any time, (iii) the grant of an option does not in any way create any contractual or other right to receive additional grants of options (or benefits in lieu of options) at any time or in any amount and
(iv) all determinations with respect to any additional grants, including (without limitation) the times when options will be granted, the number of Shares offered, the exercise price and the vesting schedule, will be at the sole discretion of the
Company.
  
 The value of this Option shall be an extraordinary item of
compensation outside the scope of your employment contract, if any, and shall not be considered a part of your normal or expected compensation for purposes of calculating severance, resignation, redundancy or end-of-service payments, bonuses,
long-service awards, pension or retirement benefits or similar payments.
  

You understand and acknowledge that participation in the Plan ceases upon termination of your Service for any reason, except as may explicitly be provided
otherwise in the Plan or this Agreement.
  
 You hereby authorize and direct
your employer to disclose to the Company or any Subsidiary any information regarding your employment, the nature and amount of your compensation and the fact and conditions of your participation in the Plan, as your employer deems necessary or
appropriate to facilitate the administration of the Plan.
  
 You consent to
the collection, use and transfer of personal data as described in this subsection. You understand and acknowledge that the Company, your employer and the Company’s other Subsidiaries hold certain personal information regarding you for the
purpose of managing and administering the Plan, including (without limitation) your name, home address, telephone number, date of birth, social insurance number, salary, nationality, job title, any Shares or directorships held in the Company and
details of all options or any other entitlements to Shares awarded, canceled, exercised, vested, unvested or outstanding in the your favor (the “Data”). You further understand and acknowledge that the Company and/or its Subsidiaries will
transfer Data among themselves as necessary for the purpose of implementation, administration and management of your participation in the Plan and that the Company and/or any Subsidiary may each further transfer Data to any third party
assisting

  

VIOLIN MEMORY, INC. 
 STOCK OPTION AGREEMENT 
 - 6 -

			
		  	the Company in the implementation, administration and management of the Plan. You understand and acknowledge that the recipients of Data may be located in the United States or
elsewhere. You authorize such recipients to receive, possess, use, retain and transfer Data, in electronic or other form, for the purpose of administering your participation in the Plan, including a transfer to any broker or other third party with
whom you elect to deposit Shares acquired under the Plan of such Data as may be required for the administration of the Plan and/or the subsequent holding of Shares on your behalf. You may, at any time, view the Data, require any necessary
modifications of Data or withdraw the consents set forth in this subsection by contacting the Human Resources Department of the Company in writing.
		
	The Plan and Other Agreements	  	The text of the Plan is incorporated in this Agreement by reference. All capitalized terms in the Agreement shall have the meanings assigned to them in the Plan. This Agreement and
the Plan constitute the entire understanding between you and the Company regarding this Option. Any prior agreements, commitments or negotiations concerning this Option are superseded. This Agreement may be amended by the Committee without your
consent; however, if any such amendment would materially impair your rights or obligations under the Agreement, this Agreement may be amended only by another written agreement, signed by you and the Company.

 BY SIGNING THE COVER SHEET OF THIS AGREEMENT, 

YOU AGREE TO ALL OF THE TERMS AND CONDITIONS 
 DESCRIBED ABOVE AND IN THE PLAN. 

  

VIOLIN MEMORY, INC. 
 STOCK OPTION AGREEMENT 
 - 7 -

 VIOLIN MEMORY, INC. 

2012 STOCK INCENTIVE PLAN 
 NOTICE OF CASH EXERCISE OF STOCK OPTION 
  

							
	OPTIONEE INFORMATION:	  		  	
				
	Name:	  	  
	  	Social Security Number:	  	  

				
	Address:	  	  
	  	Employee Number:	  	  

OPTION INFORMATION: 
  

			
	Date of Grant:
                                        ,
20        	  	Type of Stock Option:
	Exercise Price per Share:
$                                         
   	  	 ̈       Nonstatutory (NSO)
	Total number of Shares of VIOLIN MEMORY, INC. (the “Company”) covered by option:
                                	  	 ̈       Incentive (ISO)

 Number of Shares of the Company for which option is being exercised
now:                         (“Purchased Shares”). 
 Total exercise price for the Purchased Shares:
$                              
 Form of payment enclosed:  
  

			
	  ̈       Check for $ , payable to
“Violin Memory, Inc.”
	 	

 Name(s) in which the Purchased Shares should be registered:
             
  

 
  

			
	The certificate for the Purchased Shares should be sent to the following address:	  	  

		  	  

		  	  

		  	  

 ACKNOWLEDGMENTS: 
  

	1.	I understand that all sales of Purchased Shares are subject to compliance with the Company’s policy on securities trades. 

 

	2.	I hereby acknowledge that I received and read a copy of the prospectus describing the Company’s 2012 Stock Incentive Plan and the tax consequences of an exercise.

  

	3.	In the case of a nonstatutory option, I understand that I must recognize ordinary income equal to the spread between the fair market value of the Purchased Shares on
the date of exercise and the exercise price. I further understand that I am required to pay withholding taxes at the time of exercising a nonstatutory option. 

 

	4.	In the case of an incentive stock option, I agree to notify the Company if I dispose of the Purchased Shares before I have met both of the tax holding periods
applicable to incentive stock options (that is, if I make a disqualifying disposition). 

  

	
	SIGNATURE AND DATE:
	
	
                        
                                         
                                        
    , 20    

  

VIOLIN MEMORY, INC. 
 NOTICE OF EXERCISE 
 - 1 - 

 VIOLIN MEMORY, INC. 

2012 STOCK INCENTIVE PLAN 
 NOTICE OF RESTRICTED STOCK AWARD 
 You have been granted the following
Restricted Shares of Common Stock of Violin Memory, Inc. (the “Company”) under the Company’s 2012 Stock Incentive Plan (the “Plan”): 
  

			
	Date of Grant:	  	[Date of Grant]
		
	Name of Recipient:	  	[Name of Recipient]
		
	Total Number of Shares Granted:	  	[Total Shares]
		
	Fair Market Value per Share:	  	$[Value Per Share]
		
	Total Fair Market Value Of Award:	  	$[Total Value]
		
	Vesting Commencement Date:	  	[                    ]
		
	Vesting Schedule:	  	[The Shares subject to this Award vest when you complete twelve months of continuous Service as an Employee or a Consultant from the Vesting Commencement Date.] [Sample language
– actual vesting to be inserted.]

 By your signature and the signature of the Company’s representative below, you and the Company
agree that these Restricted Shares are granted under and governed by the term and conditions of the Plan and the Restricted Stock Agreement (the “Agreement”), both of which are attached to and made a part of this document. 

By signing this document you further agree that the Company may deliver by e-mail all documents relating to the Plan or this Award
(including without limitation, prospectuses required by the Securities and Exchange Commission) and all other documents that the Company is required to deliver to its security holders (including without limitation, annual reports and proxy
statements). You also agree that the Company may deliver these documents by posting them on a website maintained by the Company or by a third party under contract with the Company. If the Company posts these documents on a website, it will notify
you by e-mail. 
  

							
	[NAME OF RECIPIENT]	 		 	VIOLIN MEMORY, INC.
				
	 	 		 	By:	 	 
				
		 		 	Title:	 	 

  

VIOLIN MEMORY, INC. 
 NOTICE OF RESTRICTED STOCK AWARD 
 - 1 - 

 VIOLIN MEMORY, INC. 

2012 STOCK INCENTIVE PLAN 
 RESTRICTED STOCK AGREEMENT 
  

			
	Payment For Shares	  	No cash payment is required for the Shares you receive. You are receiving the Shares in consideration for Services rendered by you.
		
	Vesting	  	The Shares that you are receiving will vest in installments, as shown in the Notice of Restricted Stock Award.
		
		  	No additional Shares vest after your Service as an Employee or a Consultant has terminated for any reason.
		
	Shares Restricted	  	Unvested Shares will be considered “Restricted Shares.” Except to the extent permitted by the Committee, you may not sell, transfer, assign, pledge or otherwise dispose of
Restricted Shares.
		
	Forfeiture	  	If your Service terminates for any reason, then your Shares will be forfeited to the extent that they have not vested before the termination date and do not vest as a result of
termination. This means that the Restricted Shares will immediately revert to the Company. You receive no payment for Restricted Shares that are forfeited. The Company determines when your Service terminates for this purpose and all purposes under
the Plan and its determinations are conclusive and binding on all persons.
		
	Leaves Of Absence	  	For purposes of this Award, your Service does not terminate when you go on a military leave, a sick leave or another bona fide leave of absence, if the leave was approved by
the Company in writing and if continued crediting of Service is required by the terms of the leave or by applicable law. But your Service terminates when the approved leave ends, unless you immediately return to active work.
		
		  	If you go on a leave of absence, then the vesting schedule specified in the Notice of Restricted Stock Award may be adjusted in accordance with the Company’s leave of absence
policy or the terms of your leave. If you commence working on a part-time basis, then the vesting schedule specified in the Notice of Restricted Stock Award may be adjusted in accordance with the Company’s part-time work policy or the terms of
an agreement between you and the Company pertaining to your part-time schedule.
		
	Stock Certificates	  	The certificates for the Restricted Shares have stamped on them a special legend referring to the forfeiture restrictions. In addition to or in lieu of imposing the legend, the
Company may hold the certificates in escrow. As your vested percentage increases, you may request (at reasonable intervals) that the Company release to you a non-legended certificate for your vested
Shares.

  

VIOLIN MEMORY, INC. 
 RESTRICTED STOCK AGREEMENT 
 - 1-

			
	Shareholder Rights	  	During the period of time between the date of grant and the date the Restricted Shares become vested, you shall have all the rights of a shareholder with respect to the Restricted
Shares except for the right to transfer the Restricted Shares, as set forth above. Accordingly, you shall have the right to vote the Restricted Shares and to receive any cash dividends paid with respect to the Restricted Shares.
		
	Withholding Taxes	  	 Regardless of any action the Company or your employer (the “Employer”) takes with respect to any or all income tax, social
insurance, payroll tax, payment on account or other tax-related withholding (“Tax-Related Items”), you acknowledge that the ultimate liability for all Tax-Related Items legally due by you is and remains your responsibility and that the
Company and/or your Employer (1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the shares received under this Award, including the award or vesting of such shares, the
subsequent sale of shares under this Award and the receipt of any dividends; and (2) do not commit to structure the terms of the award to reduce or eliminate your liability for Tax-Related Items.

 
 No stock certificates will be released to you, unless you have paid or made adequate
arrangements satisfactory to the Company and/or the Employer to satisfy all withholding and payment on account obligations of the Company and/or your Employer. In this regard, you authorize the Company and/or your Employer to withhold all applicable
Tax-Related Items legally payable by you from your wages or other cash compensation paid to you by the Company and/or your Employer. With the Company’s consent, these arrangements may also include, if permissible under local law, a) withholding
shares that otherwise would be delivered to you when they vest having a Fair Market Value equal to the amount necessary to satisfy the minimum statutory withholding amount , b) having the Company withhold taxes from the proceeds of the sale of the
Shares, either through a voluntary sale or through a mandatory sale arranged by the Company (on your behalf pursuant to this authorization), or (c) any other arrangement approved by the Company. The fair market value of these shares, determined as
of the date when taxes otherwise would have been withheld in cash, will be applied as a credit against the withholding taxes. Finally, you shall pay to the Company or your Employer any amount of Tax-Related Items that the Company or the Employer may
be required to withhold as a result of your participation in the Plan or your acquisition of shares that cannot be satisfied by the means previously described. The Company may refuse to deliver the shares if you fail to comply with your obligations
in connection with the Tax-Related Items as described in this section.

  

VIOLIN MEMORY, INC. 
 RESTRICTED STOCK AGREEMENT 
 - 2 -

			
	Restrictions On Resale	  	You agree not to sell any Shares at a time when applicable laws, Company policies or an agreement between the Company and its underwriters prohibit a sale. This restriction will
apply as long as your Service continues and for such period of time after the termination of your Service as the Company may specify.
		
	No Retention Rights	  	Neither your Award nor this Agreement gives you the right to be employed or retained by the Company or a subsidiary of the Company in any capacity. The Company and its subsidiaries
reserve the right to terminate your Service at any time, with or without cause.
		
	Adjustments	  	In the event of a stock split, a stock dividend or a similar change in Company Shares, or an extraordinary dividend, or a merger or a reorganization of the Company, the forfeiture
provisions described above will apply to all new, substitute or additional securities or other assets to which you are entitled by reason of your ownership of the Shares.
		
	Successors and Assigns	  	Except as otherwise provided in the Plan or this Agreement, every term of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective
heirs, legatees, legal representatives, successors, transferees and assigns.
		
	Notice	  	Any notice required or permitted under this Agreement shall be given in writing and shall be deemed effectively given upon the earliest of personal delivery, receipt or the third
full day following mailing with postage and fees prepaid, addressed to the other party hereto at the address last known in the Company’s records or at such other address as such party may designate by ten (10) days’ advance written notice
to the other party hereto.
		
	Applicable Law	  	This Agreement will be interpreted and enforced under the laws of the State of California (without regard to their choice-of-law provisions).
		
	Miscellaneous	  	You understand and acknowledge that (i) the Plan is entirely discretionary, (ii) the Company and your employer have reserved the right to amend, suspend or terminate the
Plan at any time, (iii) the grant of your Award does not in any way create any contractual or other right to receive additional grants of awards (or benefits in lieu of awards) at any time or in any amount and (iv) all
determinations

  

VIOLIN MEMORY, INC. 
 RESTRICTED STOCK AGREEMENT 
 - 3 -

			
		  	 with respect to any additional grants, including (without limitation) the times when awards will be granted, the number of shares
offered, the purchase price and the vesting schedule, will be at the sole discretion of the Company.
  
 The value of this Award shall be an extraordinary item of compensation outside the scope of your employment contract, if any, and shall not be considered a part of your normal or expected compensation for
purposes of calculating severance, resignation, redundancy or end-of-service payments, bonuses, long-service awards, pension or retirement benefits or similar payments.
  

You understand and acknowledge that participation in the Plan ceases upon termination of your Service for any reason, except as may explicitly be provided
otherwise in the Plan or this Agreement.
  
 You hereby authorize and direct
your employer to disclose to the Company or any Subsidiary any information regarding your employment, the nature and amount of your compensation and the fact and conditions of your participation in the Plan, as your employer deems necessary or
appropriate to facilitate the administration of the Plan.
  
 You consent to
the collection, use and transfer of personal data as described in this subsection. You understand and acknowledge that the Company, your employer and the Company’s other Subsidiaries hold certain personal information regarding you for the
purpose of managing and administering the Plan, including (without limitation) your name, home address, telephone number, date of birth, social insurance number, salary, nationality, job title, any shares or directorships held in the Company and
details of all awards or any other entitlements to shares awarded, canceled, exercised, vested, unvested or outstanding in the your favor (the “Data”). You further understand and acknowledge that the Company and/or its Subsidiaries will
transfer Data among themselves as necessary for the purpose of implementation, administration and management of your participation in the Plan and that the Company and/or any Subsidiary may each further transfer Data to any third party assisting the
Company in the implementation, administration and management of the Plan. You understand and acknowledge that the recipients of Data may be located in the United States or elsewhere. You authorize such recipients to receive, possess, use, retain and
transfer Data, in electronic or other form, for the purpose of administering your participation in the Plan, including a transfer to any broker or other third party with whom you elect to deposit shares acquired under the Plan of such Data as may be
required for the administration of the Plan and/or the subsequent holding of shares on your behalf.

  

VIOLIN MEMORY, INC. 
 RESTRICTED STOCK AGREEMENT 
 - 4

			
		  	You may, at any time, view the Data, require any necessary modifications of Data or withdraw the consents set forth in this subsection by contacting the Human Resources Department
of the Company in writing.
		
	The Plan and Other Agreements	  	The text of the Plan is incorporated in this Agreement by reference. All capitalized terms in this Agreement shall have the meanings assigned to them in the Plan. This Agreement and
the Plan constitute the entire understanding between you and the Company regarding this Award. Any prior agreements, commitments or negotiations concerning this Award are superseded. This Agreement may be amended by the Committee without your
consent; however, if any such amendment would materially impair your rights or obligations under the Agreement, this Agreement may be amended only by another written agreement, signed by you and the Company.

 BY SIGNING THE COVER SHEET OF THIS AGREEMENT, 

YOU AGREE TO ALL OF THE TERMS AND CONDITIONS 
 DESCRIBED ABOVE AND IN THE PLAN. 

  

VIOLIN MEMORY, INC. 
 RESTRICTED STOCK AGREEMENT 
 - 5 -

 VIOLIN MEMORY, INC. 

2012 STOCK INCENTIVE PLAN 
 NOTICE OF STOCK UNIT AWARD 
 You have been granted the following Stock
Units representing Common Stock of Violin Memory, Inc. (the “Company”) under the Company’s 2012 Stock Incentive Plan (the “Plan”). 
  

			
		
	Name of Participant:	  	  

		
	Total Number of Stock Units Granted:	  	  

		
	Date of Grant:	  	___________ ____, _____
		
	Vesting Commencement Date:	  	___________ ____, _____
		
	Vesting Schedule:	  	[The Stock Units subject to this Award vest when you complete each [12 months] of continuous Service as an Employee or a Consultant from the Vesting Commencement Date.] [Sample
language – actual vesting to be inserted.]

 By your signature and the signature of the Company’s representative below, you and the Company
agree that these Stock Units are granted under and governed by the term and conditions of the Plan and the Stock Unit Agreement (the “Agreement”), both of which are attached to and made a part of this document. 

By signing this document you further agree that the Company may deliver by e-mail all documents relating to the Plan or this Award
(including without limitation, prospectuses required by the Securities and Exchange Commission) and all other documents that the Company is required to deliver to its security holders (including without limitation, annual reports and proxy
statements). You also agree that the Company may deliver these documents by posting them on a website maintained by the Company or by a third party under contract with the Company. If the Company posts these documents on a website, it will notify
you by e-mail. 
  

							
	[NAME OF PARTICIPANT]	 		 	VIOLIN MEMORY, INC.
				
	 	 		 	By:	 	 
	  	 	 	 	Its:	 	 
	Print Name	 		 		 	

  

VIOLIN MEMORY, INC. 
 NOTICE OF STOCK UNIT AWARD 
 -1- 

 VIOLIN MEMORY, INC. 

 
 2012 STOCK INCENTIVE PLAN 

STOCK UNIT AGREEMENT 
  

			
		
	Payment for Stock Units	  	No cash payment is required for the Stock Units you receive. You are receiving the Stock Units in consideration for Services rendered by you.
		
	Vesting	  	 The Stock Units that you are receiving will vest in installments, as shown in the Notice of Stock Unit Award.

 
 No additional Stock Units vest after your Service as an Employee or a Consultant has
terminated for any reason.

		
	Forfeiture	  	 If your Service terminates for any reason, then your Award expires immediately as to the number of Stock Units that have not vested
before the termination date and do not vest as a result of termination.
  

This means that the unvested Stock Units will immediately be cancelled. You receive no payment for Stock Units that are forfeited.

 
 The Company determines when your Service terminates for this purpose and all
purposes under the Plan and its determinations are conclusive and binding on all persons.

		
	Leaves of Absence	  	 For purposes of this Award, your Service does not terminate when you go on a military leave, a sick leave or another bona fide
leave of absence, if the leave of absence was approved by the Company in writing and if continued crediting of Service is required by the terms of the leave or by applicable law. But your Service terminates when the approved leave ends, unless you
immediately return to active work.
  
 If you go on a leave of absence, then
the vesting schedule specified in the Notice of Stock Unit Award may be adjusted in accordance with the Company’s leave of absence policy or the terms of your leave. If you commence working on a part-time basis, then the vesting schedule
specified in the Notice of Stock Unit Award may be adjusted in accordance with the Company’s part-time work policy or the terms of an agreement between you and the Company pertaining to your part-time schedule.

		
	Nature of Stock Units    	  	Your Stock Units are mere bookkeeping entries. They represent only the Company’s unfunded and unsecured promise to issue Shares on a future date. As a holder of Stock Units,
you have no rights other than the rights of a general creditor of the Company.

			
		
	No Voting Rights or Dividends; Dividend Equivalents	  	 Your Stock Units carry neither voting rights nor rights to dividends. You, or your estate or heirs, have no rights as a shareholder of
the Company unless and until your Stock Units are settled by issuing Shares. No adjustments will be made for dividends or other rights if the applicable record date occurs before your Shares are issued, except as described in the Plan.

 
 Notwithstanding the foregoing, dividend equivalents shall be paid or credited on
Stock Units (other than Stock Units that, at the relevant record date, previously have been settled or forfeited) as follows, except that the Committee may specify an alternative treatment from that specified below:

 
 If the Company declares and pays a dividend or distribution on the Shares in the form
of cash, then you will be credited, as of the payment date for such dividend or distribution, an amount equal to the number of Stock Units credited to you as of the record date for such dividend or distribution multiplied by the amount that would
have been paid as a dividend or distribution on each outstanding Share at such payment date. Any amounts credited under this paragraph shall be subject to the restrictions and conditions that apply to the Stock Unit with respect to which the amounts
are credited and will be payable when the underlying Stock Unit becomes payable. At the time the underlying Stock Unit becomes payable, the Company has the discretion to pay any accrued dividend equivalents either in cash or in Shares. If the
underlying Stock Unit does not vest or is forfeited, any amounts credited under this paragraph (i) with respect to the underlying Stock Unit will also fail to vest and be forfeited.

		
	Stock Units Nontransferable	  	You may not sell, transfer, assign, pledge or otherwise dispose of any Stock Units. For instance, you may not use your Stock Units as security for a loan. If you attempt to do any
of these things, your Stock Units will immediately become invalid.
		
	Settlement of Stock Units	  	 Each of your vested Stock Units will be settled when it vests; provided, however, that settlement of each Stock Unit will be deferred to
the first permissible trading day for the Shares, if later than the applicable vesting date, but in no event later than December 31 of the calendar year in which the applicable vesting date occurs.

 
 For purposes of this Agreement, “permissible trading day” means a day that
satisfies all of the following requirements: (a) the exchange on which the Shares are traded is open for trading on that day; (b)

			
		
		  	 you are permitted to sell Shares on that day without incurring liability under section 16(b) of the Exchange Act, (c) either (i) you are
not in possession of material non-public information that would make it illegal for you to sell Shares on that day under Rule 10b-5 under the Exchange Act or (ii) Rule 10b5-1 under the Exchange Act would apply to the sale; (d) you are permitted to
sell Shares on that day under such written insider trading policy as may have been adopted by the Company; and (e) you are not prohibited from selling Shares on that day by a written agreement between you and the Company or a third party.

 
 At the time of settlement, you will receive one Share for each vested Stock Unit;
provided, however, that no fractional Shares will be issued or delivered pursuant to the Plan or this Agreement, and the Committee will determine whether cash will be paid in lieu of any fractional Share or whether such fractional Share and any
rights thereto will be canceled, terminated or otherwise eliminated. In addition, the Shares are issued to you subject to the condition that the issuance of the Shares not violate any law or regulation.

		
	Withholding Taxes and Stock Withholding	  	Regardless of any action the Company or your actual employer (the “Employer”) takes with respect to any or all income tax, social insurance, payroll tax, payment on
account or other tax-related withholding (“Tax-Related Items”), you acknowledge that the ultimate liability for all Tax-Related Items legally due by you is and remains your responsibility and that the Company and/or the Employer
(1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the Award, including the settlement of the Stock Units, the subsequent sale of Shares acquired pursuant to such
settlement and the receipt of any dividends; and (2) do not commit to structure the terms of the Award or any aspect of the Stock Units to reduce or eliminate your liability for Tax-Related Items.
		
		  	 Prior to the settlement of your Stock Units, you shall pay or make adequate arrangements satisfactory to the Company and/or the Employer
to satisfy all withholding and payment on account obligations of the Company and/or the Employer. In this regard, you authorize the Company and/or the Employer to withhold all applicable Tax-Related Items legally payable by you from your wages or
other cash compensation paid to you by the Company and/or the Employer. With the Company’s consent, these arrangements may also include, if permissible under local law, (a) withholding Shares that otherwise would be issued to you when your
Stock Units are settled, provided that the Company only withholds the amount of Shares necessary to satisfy the minimum statutory withholding amount, (b) having the Company withhold taxes
from

			
		
		  	 the proceeds of the sale of the Shares, either through a voluntary sale or through a mandatory sale arranged by the Company (on your
behalf pursuant to this authorization), or (c) any other arrangement approved by the Company. The Fair Market Value of these Shares, determined as of the effective date when taxes otherwise would have been withheld in cash, will be applied as a
credit against the withholding taxes. Finally, you shall pay to the Company or the Employer any amount of Tax-Related Items that the Company or the Employer may be required to withhold as a result of your participation in the Plan or your purchase
of Shares that cannot be satisfied by the means previously described. The Company may refuse to deliver the Shares if you fail to comply with your obligations in connection with the Tax-Related Items as described in this section, and your rights to
the Shares shall be forfeited if you do not comply with such obligations on or before December 31 of the calendar year in which the applicable vesting date for the Stock Units occurs.

		
	Restrictions on Resale    	  	You agree not to sell any Shares at a time when applicable laws, Company policies or an agreement between the Company and its underwriters prohibit a sale. This restriction will
apply as long as your Service continues and for such period of time after the termination of your Service as the Company may specify.
		
	No Retention Rights	  	Neither your Award nor this Agreement gives you the right to be employed or retained by the Company or a subsidiary of the Company in any capacity. The Company and its subsidiaries
reserve the right to terminate your Service at any time, with or without cause.
		
	Adjustments	  	The number of Stock Units covered by this Award shall be subject to adjustment in the event of a stock split, a stock dividend or a similar change in Company Shares, and in other
circumstances, as set forth in the Plan.
		
	Successors and Assigns	  	Except as otherwise provided in the Plan or this Agreement, every term of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective
heirs, legatees, legal representatives, successors, transferees and assigns.
		
	Notice	  	Any notice required or permitted under this Agreement shall be given in writing and shall be deemed effectively given upon the earliest of personal delivery, receipt or the third
full day following mailing with postage and fees prepaid, addressed to the other party hereto at the address last known in the Company’s records or at such other address as such party may designate by ten (10) days’ advance written notice
to the other party hereto.

			
	Applicable Law    	  	This Agreement will be interpreted and enforced under the laws of the State of California (without regard to their choice-of-law provisions).

			
	Miscellaneous    	  	 You understand and acknowledge that (i) the Plan is entirely discretionary, (ii) the Company and your employer have reserved
the right to amend, suspend or terminate the Plan at any time, (iii) the grant of your Award does not in any way create any contractual or other right to receive additional grants of awards (or benefits in lieu of awards) at any time or in any
amount and (iv) all determinations with respect to any additional grants, including (without limitation) the times when awards will be granted, the number of Shares subject to the awards, and the vesting schedule, will be at the sole discretion
of the Company.
  
 The value of this Award shall be an extraordinary item of
compensation outside the scope of your employment contract, if any, and shall not be considered a part of your normal or expected compensation for purposes of calculating severance, resignation, redundancy or end-of-service payments, bonuses,
long-service awards, pension or retirement benefits or similar payments.
  

You understand and acknowledge that participation in the Plan ceases upon termination of your Service for any reason, except as may explicitly be provided
otherwise in the Plan or this Agreement.
  
 You hereby authorize and direct
your employer to disclose to the Company or any Subsidiary any information regarding your employment, the nature and amount of your compensation and the fact and conditions of your participation in the Plan, as your employer deems necessary or
appropriate to facilitate the administration of the Plan.
  
 You consent to
the collection, use and transfer of personal data as described in this subsection. You understand and acknowledge that the Company, your employer and the Company’s other Subsidiaries hold certain personal information regarding you for the
purpose of managing and administering the Plan, including (without limitation) your name, home address, telephone number, date of birth, social insurance number, salary, nationality, job title, any Shares or directorships held in the Company and
details of all awards or any other entitlements to Shares awarded, canceled, exercised, vested, unvested or outstanding in your favor (the “Data”). You further understand and acknowledge that the Company and/or its Subsidiaries will
transfer Data among themselves as necessary for the purpose of implementation, administration and management of your participation in the Plan and that the Company and/or any Subsidiary may each further transfer Data to any third party assisting the
Company in the implementation, administration and management of the Plan. You understand and acknowledge that the recipients of Data may be located in the United States or
elsewhere.

			
		
		  	You authorize such recipients to receive, possess, use, retain and transfer Data, in electronic or other form, for the purpose of administering your participation in the Plan,
including a transfer to any broker or other third party with whom you elect to deposit Shares acquired under the Plan of such Data as may be required for the administration of the Plan and/or the subsequent holding of Shares on your behalf. You may,
at any time, view the Data, require any necessary modifications of Data or withdraw the consents set forth in this subsection by contacting the Human Resources Department of the Company in writing.
		
	The Plan and Other Agreements	  	The text of the Plan is incorporated in this Agreement by reference. All capitalized terms in this Agreement shall have the meanings assigned to them in the Plan. This Agreement and
the Plan constitute the entire understanding between you and the Company regarding this Award. Any prior agreements, commitments or negotiations concerning this Award are superseded. This Agreement may be amended by the Committee without your
consent; however, if any such amendment would materially impair your rights or obligations under the Agreement, this Agreement may be amended only by another written agreement, signed by you and the Company.

 BY SIGNING THE COVER SHEET OF THIS AGREEMENT, 

YOU AGREE TO ALL OF THE TERMS AND CONDITIONS 
 DESCRIBED ABOVE AND IN THE PLAN.

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