Document:

exv10w20

Exhibit 10.20

Qlik Technologies Inc.

2010 Omnibus Equity Incentive Plan

(As Adopted Effective on the IPO Date)

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 1.	 	INTRODUCTION	 	 	1	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 2.	 	ADMINISTRATION	 	 	1	 
	 
	 	2.1	 	Committee Composition	 	 	1	 
	 
	 	2.2	 	Committee Responsibilities	 	 	1	 
	 
	 	2.3	 	Non-Officer Grants	 	 	2	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 3.	 	SHARES AVAILABLE FOR GRANTS	 	 	2	 
	 
	 	3.1	 	Basic Limitation	 	 	2	 
	 
	 	3.2	 	Annual Increase in Shares	 	 	2	 
	 
	 	3.3	 	Shares Returned to Reserve	 	 	2	 
	 
	 	3.4	 	Dividend Equivalents	 	 	3	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 4.	 	ELIGIBILITY	 	 	3	 
	 
	 	4.1	 	Incentive Stock Options	 	 	3	 
	 
	 	4.2	 	Other Grants	 	 	3	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 5.	 	OPTIONS	 	 	3	 
	 
	 	5.1	 	Stock Option Agreement	 	 	3	 
	 
	 	5.2	 	Number of Shares	 	 	3	 
	 
	 	5.3	 	Exercise Price	 	 	3	 
	 
	 	5.4	 	Exercisability and Term	 	 	3	 
	 
	 	5.5	 	Effect of Change in Control	 	 	4	 
	 
	 	5.6	 	Death of Optionee	 	 	4	 
	 
	 	5.7	 	Modification or Assumption of Options	 	 	4	 
	 
	 	5.8	 	Buyout Provisions	 	 	4	 
	 
	 	5.9	 	Tax Considerations Related to Option Modifications	 	 	4	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 6.	 	PAYMENT FOR OPTION SHARES	 	 	4	 
	 
	 	6.1	 	General Rule	 	 	4	 
	 
	 	6.2	 	Surrender of Stock	 	 	5	 
	 
	 	6.3	 	Exercise/Sale	 	 	5	 
	 
	 	6.4	 	Other Forms of Payment	 	 	5	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 7.	 	STOCK APPRECIATION RIGHTS	 	 	5	 
	 
	 	7.1	 	SAR Agreement	 	 	5	 
	 
	 	7.2	 	Number of Shares	 	 	5	 
	 
	 	7.3	 	Exercise Price	 	 	5	 
	 
	 	7.4	 	Exercisability and Term	 	 	5	 
	 
	 	7.5	 	Effect of Change in Control	 	 	6	 
	 
	 	7.6	 	Exercise of SARs	 	 	6	 
	 
	 	7.7	 	Death of Optionee	 	 	6	 
	 
	 	7.8	 	Modification or Assumption of SARs	 	 	6	 

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	 	 	 	 	 	 	Page	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 8.	 	RESTRICTED SHARES	 	 	7	 
	 
	 	8.1	 	Restricted Stock Agreement	 	 	7	 
	 
	 	8.2	 	Payment for Awards	 	 	7	 
	 
	 	8.3	 	Vesting Conditions	 	 	7	 
	 
	 	8.4	 	Voting and Dividend Rights	 	 	7	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 9.	 	STOCK UNITS	 	 	7	 
	 
	 	9.1	 	Stock Unit Agreement	 	 	7	 
	 
	 	9.2	 	Payment for Awards	 	 	7	 
	 
	 	9.3	 	Vesting Conditions	 	 	8	 
	 
	 	9.4	 	Voting and Dividend Rights	 	 	8	 
	 
	 	9.5	 	Form and Time of Settlement of Stock Units	 	 	8	 
	 
	 	9.6	 	Death of Recipient	 	 	8	 
	 
	 	9.7	 	Creditors’ Rights	 	 	9	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 10.	 	OTHER AWARDS	 	 	9	 
	 
	 	10.1	 	Awards under Other Plans	 	 	9	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 11.	 	PROTECTION AGAINST DILUTION	 	 	9	 
	 
	 	11.1	 	Adjustments	 	 	9	 
	 
	 	11.2	 	Dissolution or Liquidation	 	 	9	 
	 
	 	11.3	 	Reorganizations	 	 	10	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 12.	 	PAYMENT OF DIRECTOR’S FEES IN SECURITIES	 	 	11	 
	 
	 	12.1	 	Effective Date	 	 	11	 
	 
	 	12.2	 	Elections to Receive NSOs, Restricted Shares or Stock Units	 	 	11	 
	 
	 	12.3	 	Number and Terms of NSOs, Restricted Shares or Stock Units	 	 	11	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 13.	 	LIMITATION ON RIGHTS	 	 	11	 
	 
	 	13.1	 	Retention Rights	 	 	11	 
	 
	 	13.2	 	Stockholders’ Rights	 	 	11	 
	 
	 	13.3	 	Regulatory Requirements	 	 	11	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 14.	 	TAXES	 	 	12	 
	 
	 	14.1	 	General	 	 	12	 
	 
	 	14.2	 	Share Withholding	 	 	12	 
	 
	 	14.3	 	Section 409A Matters	 	 	12	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 15.	 	PLAN AMENDMENTS AND TERMINATION	 	 	12	 
	 
	 	15.1	 	Term of the Plan	 	 	12	 
	 
	 	15.2	 	Amendment or Termination	 	 	12	 
	 
	 	15.3	 	Stockholder Approval	 	 	12	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 16.	 	DEFINITIONS	 	 	13	 

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Qlik Technologies Inc.

2010 Omnibus Equity Incentive Plan

     ARTICLE 1. INTRODUCTION.

     The Board adopted the Plan effective as of the IPO 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 Options (which may constitute ISOs or
NSOs), SARs, Restricted Shares, or Stock Units.

     The Plan shall be governed by, and construed in accordance with, the laws of the State of
Delaware (except their choice-of-law provisions).

     ARTICLE 2. ADMINISTRATION.

     2.1 Committee Composition. The Compensation Committee of the Board shall administer the Plan. The Committee shall
consist exclusively of two or more members of the Board, who shall be appointed by the Board. In
addition, each member of the Committee shall meet the following requirements:

     (a) Any listing standards prescribed by the principal securities market on
which the Company’s equity securities are traded;

     (b) Such requirements as the Internal Revenue Service may establish for outside
directors acting under plans intended to qualify for exemption under Section
162(m)(4)(C) of the Code;

     (c) Such requirements as the Securities and Exchange Commission may establish
for administrators acting under plans intended to qualify for exemption under Rule
16b-3 (or its successor) under the Exchange Act; and

     (d) Any other requirements imposed by applicable law, regulations or rules.

     2.2 Committee Responsibilities. The Committee shall (a) select the Employees, Outside Directors and Consultants who are to
receive Awards under the Plan, (b) determine the type, number, vesting requirements and other
features and conditions of such Awards, (c) determine to what extent any Performance Goals have
been attained, (d) determine whether and to what extent performance goals have been attained, (e)
make all other decisions

 

 

relating to the operation of the Plan and (f) carry out any other duties delegated to it by
the Board. The Committee is also authorized to interpret the terms of and establish operating
rules applicable to the Plan and Awards, may adopt such rules, guidelines and procedures as it
deems appropriate to implement and administer the Plan, including such rules or sub-plans as it in
its discretion deems necessary to allow for the grant of Awards to Employees, Outside Directors and
Consultants under the laws and practices of foreign countries. The Committee’s determinations under
the Plan shall be final and binding on all persons.

     2.3 Non-Officer Grants. The Board (or the Committee if the Board has delegated to it authority to further delegate
its responsibilities) may delegate its authority to administer the Plan to an additional committee
of the Board, composed of one or more directors of the Company, or to the extent permitted by
applicable law one or more officers of the Company. The members of such additional committee need
not satisfy the requirements of Section 2.1. Such committee or individual(s) may (a) administer
the Plan with respect to Employees and Consultants who are not Outside Directors and are not
considered executive officers of the Company under Section 16 of the Exchange Act, (b) grant Awards
under the Plan to such Employees and Consultants and (c) subject to any limitations imposed under
the terms of the authority delegated, determine all features and conditions of such Awards. Within
the limitations of this Section 2.3, any reference in the Plan to the Committee shall, where the
context requires, include any such individual(s) or additional committee to whom the Board has
delegated the required authority under this Section 2.3.

     ARTICLE 3. SHARES AVAILABLE FOR GRANTS.

     3.1 Basic Limitation. Common Shares issued pursuant to the Plan may be authorized but unissued shares or treasury
shares. The aggregate number of Common Shares issued under the Plan shall not exceed (a) 3,300,000
plus (b) the additional Common Shares described in Sections 3.2 and 3.3. The number of Common
Shares that are subject to Awards outstanding at any time under the Plan shall not exceed the
number of Common Shares that then remain available for issuance under the Plan. All Common Shares
available under the Plan may be issued upon the exercise of ISOs. The limitations of this Section
3.1 and Section 3.2 shall be subject to adjustment pursuant to Article 11.

     3.2 Annual Increase in Shares. As of the first day of each fiscal year of the Company, commencing on January 1, 2011, the
aggregate number of Common Shares that may be issued under the Plan shall automatically increase by
a number equal to the lowest of (a) 3.75% of the total number of Common Shares then outstanding,
(b) 3,300,000 Common Shares or (c) the number determined by the Board.

     3.3 Shares Returned to Reserve. To the extent that Options, SARs or Stock Units are forfeited or expire for any other
reason before being exercised or settled in full, the Common Shares subject to such Options, SARs
or Stock Units shall again become available for issuance under the Plan. If SARs are exercised,
then only the number of Common Shares (if any) actually issued in settlement of such SARs shall
reduce the number available under Section 3.1 and the balance shall again become available for
issuance under the Plan. If Stock Units are settled, then only the number of Common Shares (if
any) actually issued in settlement of such Stock Units shall reduce the number available under
Section 3.1 and the balance shall

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again become available for issuance under the Plan. If Restricted Shares or Common Shares issued
upon the exercise of Options are reacquired by the Company pursuant to a forfeiture provision or
for any other reason, then such Common Shares shall again become available for issuance under the
Plan. Shares applied to pay the Exercise Price of Options or to satisfy tax withholding
obligations related to any Award shall again become available for issuance under the Plan. To the
extent that an Award is settled in cash rather than Shares, the cash settlement shall not reduce
the number of Shares available for issuance under the Plan.

     3.4 Dividend Equivalents. Any dividend equivalents paid or credited under the Plan with respect to Stock Units shall
not be applied against the number of Common Shares that may be issued under the Plan.

     ARTICLE 4. ELIGIBILITY.

     4.1 Incentive Stock Options. Only Employees who are common-law employees of the Company, a Parent or a Subsidiary shall
be eligible for the grant of ISOs. In addition, an Employee who owns more than 10% of the total
combined voting power of all classes of outstanding stock of the Company or any of its Parents or
Subsidiaries shall not be eligible for the grant of an ISO unless the additional requirements set
forth in Section 422(c)(5) of the Code are satisfied.

     4.2 Other Grants. Only Employees, Outside Directors and Consultants shall be eligible for the grant of
Restricted Shares, Stock Units, NSOs, and SARs.

     ARTICLE 5. OPTIONS.

     5.1 Stock Option Agreement. Each grant of an Option under the Plan shall be evidenced by a Stock Option Agreement
between the Optionee and the Company. Such Option shall be subject to all applicable terms of the
Plan and may be subject to any other terms that are not inconsistent with the Plan. The Stock
Option Agreement shall specify whether the Option is an ISO or an NSO. The provisions of the
various Stock Option Agreements entered into under the Plan need not be identical.

     5.2 Number of Shares. Each Stock Option Agreement shall specify the number of Common Shares subject to the
Option, which number shall adjust in accordance with Article 11. Options granted to an Optionee in
a single fiscal year of the Company shall not cover more than 800,000 Common Shares. The
limitations set forth in the preceding sentence shall be subject to adjustment in accordance with
Article 11.

     5.3 Exercise Price. Each Stock Option Agreement shall specify the Exercise Price, which shall not be less than
100% of the Fair Market Value of a Common Share on the date of grant. The preceding sentence shall
not apply to Options granted pursuant to an assumption of, or substitution for, another option in a
manner that would satisfy the requirements of Section 424(a) of the Code, whether or not such
section is applicable.

     5.4 Exercisability and Term. Each Stock Option Agreement shall specify the date or event when all or any installment of
the Option is to become vested and/or exercisable. The Stock Option Agreement shall also specify
the term of the Option; provided

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that the term of an ISO shall in no event exceed 10 years from the date of grant. A Stock
Option Agreement may provide for accelerated vesting and exercisability in the event of the
Optionee’s death, disability or retirement or other events and may provide for expiration prior to
the end of its term in the event of the termination of the Optionee’s Service.

     5.5 Effect of Change in Control. The Committee may determine, at the time of granting an Option or thereafter, that such
Option shall become vested and exercisable as to all or part of the Common Shares subject to such
Option in the event that a Change in Control occurs with respect to the Company or in the event
that the Optionee is subject to an Involuntary Termination after a Change in Control. However, in
the case of an ISO, the acceleration of vesting and exercisability shall not occur without the
Optionee’s written consent. In addition, acceleration of vesting and exercisability may be
required under Section 11.3.

     5.6 Death of Optionee. After an Optionee’s death, any vested and exercisable Options held by such Optionee may be
exercised by his or her beneficiary or beneficiaries. Each Optionee may 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
Optionee’s death. If no beneficiary was designated or if no designated beneficiary survives the
Optionee, then any vested and exercisable Options held by the Optionee may be exercised by his or
her estate.

     5.7 Modification or Assumption of Options. Within the limitations of the Plan, the Committee may modify, reprice, extend or assume
outstanding options or may accept the cancellation of outstanding options (whether granted by the
Company or by another issuer) in return for the grant of new options for the same or a different
number of shares and at the same or a different exercise price. The foregoing notwithstanding, no
modification of an Option shall, without the consent of the Optionee, alter or impair his or her
rights or obligations under such Option.

     5.8 Buyout Provisions. The Committee may at any time (a) offer to buy out for a payment in cash or cash
equivalents an Option previously granted or (b) authorize an Optionee to elect to cash out an
Option previously granted, in either case at such time and based upon such terms and conditions as
the Committee shall establish.

     5.9 Tax Considerations Related to Option Modifications. Notwithstanding anything to the contrary in Section 5.8 or 5.9, in no event shall a
modification of an Option otherwise permitted or consented to under the terms of the Plan be given
effect if such modification would cause the Option to become a stock right subject to Code Section
409A (where such Option had not previously been so subject) unless the parties explicitly
acknowledge and consent to the modification as one having that effect.

     ARTICLE 6. PAYMENT FOR OPTION SHARES.

     6.1 General Rule. The entire Exercise Price of Common Shares issued upon exercise of Options shall be payable
in cash or cash equivalents at the time when such Common Shares are purchased, except that the
Committee at its sole discretion may (a) accept payment of the Exercise Price in any other form(s)
described in this Article 6 and (b) to prohibit the use of

4

 

any method of consideration otherwise permitted under the Stock Option Agreement as long as
such prohibition does not render the Optionee unable to exercise an otherwise exercisable Option.
However, if the Optionee is an Outside Director or executive officer of the Company, he or she may
pay the Exercise Price only with a form of consideration permitted under Section 13(k) of the
Exchange Act.

     6.2 Surrender of Stock. With the Committee’s consent, all or any part of the Exercise Price may be paid by
surrendering, or attesting to the ownership of, Common Shares that are already owned by the
Optionee. Such Common Shares shall be valued at their Fair Market Value on the date when the new
Common Shares are purchased under the Plan.

     6.3 Exercise/Sale. With the Committee’s consent, all or any part of the Exercise Price and any withholding
taxes may be paid by delivering (on a form prescribed by the Company) an irrevocable direction to a
securities broker approved by the Company to sell all or part of the Common Shares being purchased
under the Plan and to deliver all or part of the sales proceeds to the Company.

     6.4 Other Forms of Payment. With the Committee’s consent, all or any part of the Exercise Price and any withholding
taxes may be paid in any other form of consideration (including through delivery of a full-recourse
promissory note) that is consistent with applicable laws, regulations and rules.

     ARTICLE 7. STOCK APPRECIATION RIGHTS.

     7.1 SAR Agreement. Each grant of a SAR under the Plan shall be evidenced by a SAR Agreement between the
Optionee and the Company. Such SAR shall be subject to all applicable terms of the Plan and may be
subject to any other terms that are not inconsistent with the Plan. The provisions of the various
SAR Agreements entered into under the Plan need not be identical.

     7.2 Number of Shares. Each SAR Agreement shall specify the number of Common Shares to which the SAR pertains,
which number shall adjust in accordance with Article 11. SARs granted to an Optionee in a single
calendar year shall in no event pertain to more than 800,000 Common Shares. The limitations set
forth in the preceding sentence shall be subject to adjustment in accordance with Article 11.

     7.3 Exercise Price. Each SAR Agreement shall specify the Exercise Price, which shall in no event be less than
100% of the Fair Market Value of a Common Share on the date of grant. The preceding sentence shall
not apply to SARs granted pursuant to an assumption of, or substitution for, another SAR in a
manner that would satisfy the requirements of Section 424(a) of the Code if such section were
applicable.

     7.4 Exercisability and Term. Each SAR Agreement shall specify the date when all or any installment of the SAR is to
become vested and exercisable. The SAR Agreement shall also specify the term of the SAR. A SAR
Agreement may provide for accelerated vesting and exercisability in the event of the Optionee’s
death, disability or retirement or other events and may provide for expiration prior to the end of
its term in the event

5

 

of the termination of the Optionee’s Service. A SAR granted under the Plan may provide that
it will be vested and exercisable only in the event of a Change in Control.

     7.5 Effect of Change in Control. The Committee may determine, at the time of granting a SAR or thereafter, that such SAR
shall become vested and exercisable as to all or part of the Common Shares subject to such SAR in
the event that the Company is subject to a Change in Control or in the event that the Optionee is
subject to an Involuntary Termination after a Change in Control. In addition, acceleration of
vesting and exercisability may be required under Section 11.3.

     7.6 Exercise of SARs. Upon exercise of a SAR, the Optionee (or any person having the right to exercise the SAR
after his or her death) shall receive from the Company (a) Common Shares, (b) cash or (c) a
combination of Common Shares and cash, as the Committee shall determine. The amount of cash and/or
the Fair Market Value of Common Shares received upon exercise of SARs shall, in the aggregate, not
exceed the amount by which the Fair Market Value (on the date of surrender) of the Common Shares
subject to the SARs exceeds the Exercise Price. If, on the date when a SAR expires, the Exercise
Price is less than the Fair Market Value on such date but any portion of such SAR has not been
exercised or surrendered, then such SAR shall automatically be deemed to be exercised as of such
date with respect to such portion. A SAR Agreement may also provide for an automatic exercise of
the SAR on an earlier date.

     7.7 Death of Optionee. After an Optionee’s death, any vested and exercisable SARs held by such Optionee may be
exercised by his or her beneficiary or beneficiaries. Each Optionee may 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
Optionee’s death. If no beneficiary was designated or if no designated beneficiary survives the
Optionee, then any vested and exercisable SARs held by the Optionee may be exercised by his or her
estate.

     7.8 Modification or Assumption of SARs. Within the limitations of the Plan, the Committee may modify, reprice, extend or assume
outstanding SARs or may accept the cancellation of outstanding SARs (whether granted by the Company
or by another issuer) in return for the grant of new SARs for the same or a different number of
shares and at the same or a different exercise price. The foregoing notwithstanding, no
modification of a SAR shall, without the consent of the Optionee, alter or impair his or her rights
or obligations under such SAR.

     7.9 Tax Considerations Related to SAR Modifications. Notwithstanding anything to
the contrary in Section 7.8, in no event shall a modification of a SAR otherwise permitted or
consented to under the terms of the Plan be given effect if such modification would cause the SAR
to become a stock right subject to Code Section 409A (where such SAR had not previously been so
subject) unless the parties explicitly acknowledge and consent to the modification as one having
that effect.

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     ARTICLE 8. RESTRICTED SHARES.

     8.1 Restricted Stock Agreement. Each grant of Restricted Shares under the Plan shall be evidenced by a Restricted Stock
Agreement between the recipient and the Company. Such Restricted Shares shall be subject to all
applicable terms of the Plan and may be subject to any other terms that are not inconsistent with
the Plan. The provisions of the various Restricted Stock Agreements entered into under the Plan
need not be identical.

     8.2 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, property, past
services and future services, and such other methods of payment as are permitted under applicable
law. If the Participant is an Outside Director or executive officer of the Company, he or she may
pay for Restricted Shares with a promissory note only to the extent permitted by Section 13(k) of
the Exchange Act. Within the limitations of the Plan, the Committee may accept the cancellation of
outstanding options in return for the grant of Restricted Shares.

     8.3 Vesting Conditions. Each Award of Restricted Shares may or may not be subject to vesting. Vesting shall occur,
in full or in installments, upon satisfaction of the conditions specified in the Restricted Stock
Agreement. Such conditions, at the Committee’s discretion, may include one or more Performance
Goals. In no event shall more than 200,000 Restricted Shares that are subject to performance-based
vesting conditions be granted to any Participant in a single fiscal year of the Company. The
limitations set forth in the preceding sentence shall be subject to adjustment in accordance with
Article 11. A Restricted Stock Agreement may provide for accelerated vesting in the event of the
Participant’s death, disability or retirement or other events. The Committee may determine, at the
time of granting Restricted Shares or thereafter, that all or part of such Restricted Shares shall
become vested in the event that a Change in Control occurs with respect to the Company or in the
event that the Participant is subject to an Involuntary Termination after a Change in Control.

     8.4 Voting and Dividend Rights. The holders of Restricted Shares awarded under the Plan shall have the same voting,
dividend and other rights as the Company’s other stockholders. A Restricted Stock Agreement,
however, may require that any cash dividends paid on Restricted Shares (a) be accumulated and paid
when such Restricted Shares vest or (b) be invested 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.

     ARTICLE 9. STOCK UNITS.

     9.1 Stock Unit Agreement. Each grant of Stock Units under the Plan shall be evidenced by a Stock Unit Agreement
between the recipient and the Company. Such Stock Units shall be subject to all applicable terms
of the Plan and may be subject to any other terms that are not inconsistent with the Plan. The
provisions of the various Stock Unit Agreements entered into under the Plan need not be identical.

     9.2 Payment for Awards. To the extent that an Award is granted in the form of Stock Units, no cash consideration
shall be required of the Award recipients.

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     9.3 Vesting Conditions. Each Award of Stock Units may or may not be subject to vesting. Vesting shall occur, in
full or in installments, upon satisfaction of the conditions specified in the Stock Unit Agreement.
Such conditions, at the Committee’s discretion, may include one or more Performance Goals. In no
event shall more than 200,000 Stock Units that are subject to performance-based vesting conditions
be granted to any Participant in a single fiscal year of the Company. The limitations set forth in
the preceding sentence shall be subject to adjustment in accordance with Article 11. A Stock Unit
Agreement may provide for accelerated vesting in the event of the Participant’s death, disability
or retirement or other events. The Committee may determine, at the time of granting Stock Units or
thereafter, that all or part of such Stock Units shall become vested in the event that the Company
is subject to a Change in Control or in the event that the Participant is subject to an Involuntary
Termination after a Change in Control. In addition, acceleration of vesting may be required under
Section 11.3.

     9.4 Voting and Dividend Rights. The holders of Stock Units shall have no voting rights. Prior to settlement or forfeiture,
any Stock Unit awarded under the Plan may, at the Committee’s discretion, carry with it a right to
dividend equivalents. Such right entitles the holder to be credited with an amount equal to all
cash dividends paid on one Common 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 Common Shares, or in a combination of both. Prior to
distribution, any dividend equivalents that are not paid shall be subject to the same conditions
and restrictions as the Stock Units to which they attach.

     9.5 Form and Time of Settlement of Stock Units. Settlement of vested Stock Units may be made in the form of (a) cash, (b) Common 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. Methods of converting Stock Units into cash may
include (without limitation) a method based on the average Fair Market Value of Common Shares over
a series of trading days. Vested Stock Units may be settled in a lump sum or in installments. The
distribution may occur or commence when all vesting conditions applicable to the Stock Units have
been satisfied or have lapsed, or it may be deferred to any later date. The amount of a deferred
distribution may be increased by an interest factor or by dividend equivalents. Until an Award of
Stock Units is settled, the number of such Stock Units shall be subject to adjustment pursuant to
Article 11.

     9.6 Death of Recipient. Any Stock Units Award that becomes payable after the recipient’s death shall be distributed
to the recipient’s beneficiary or beneficiaries. Each recipient of a Stock Units Award under the
Plan shall designate one or more beneficiaries for this purpose by filing the prescribed form with
the Company. A beneficiary designation may be changed by filing the prescribed form with the
Company at any time before the Award recipient’s death. If no beneficiary was designated or if no
designated beneficiary survives the Award recipient, then any Stock Units Award that becomes
payable after the recipient’s death shall be distributed to the recipient’s estate.

8

 

     9.7 Creditors’ Rights. A holder of Stock Units shall have no rights other than those of a general creditor of the
Company. Stock Units represent an unfunded and unsecured obligation of the Company, subject to the
terms and conditions of the applicable Stock Unit Agreement.

     ARTICLE 10. OTHER AWARDS.

     10.1 Awards under Other Plans. The Company may grant awards under other plans or programs. Such awards may be settled in
the form of Common Shares issued under this Plan. Such Common Shares shall be treated for all
purposes under the Plan like Common Shares issued in settlement of Stock Units and shall, when
issued, reduce the number of Common Shares available under Article 3.

     ARTICLE 11. PROTECTION AGAINST DILUTION.

     11.1 Adjustments. In the event of a subdivision of the outstanding Common Shares, a declaration of a dividend
payable in Common Shares or a combination or consolidation of the outstanding Common Shares (by
reclassification or otherwise) into a lesser number of Common Shares, corresponding adjustments
shall automatically be made in each of the following:

     (a) The number of Common Shares that may be granted subject to Awards under
Article 3;

     (b) The limitations set forth in Sections 5.2, 7.2, 8.3 and 9.3;

     (c) The number of Common Shares covered by each outstanding Option and SAR;

     (d) The Exercise Price under each outstanding Option and SAR and the repurchase
price, if any, applicable to Restricted Shares; or

     (e) The number of Stock Units included in any prior Award that has not yet been
settled.

In the event of a declaration of an extraordinary dividend payable in a form other than Common
Shares in an amount that has a material effect on the price of Common Shares, a recapitalization, a
spin-off or a similar occurrence, the Committee shall make such adjustments as it, in its sole
discretion, deems appropriate in one or more of the foregoing. Except as provided in this Article
11, a Participant shall have no rights by reason of any issuance by the Company of stock of any
class or securities convertible into stock of any class, any subdivision or consolidation of shares
of stock of any class, the payment of any stock dividend or any other increase or decrease in the
number of shares of stock of any class.

     11.2 Dissolution or Liquidation. To the extent not previously exercised or settled, Options, SARs and Stock Units shall
terminate immediately prior to the dissolution or liquidation of the Company.

9

 

     11.3 Reorganizations. In the event that the Company is party to a Corporate Transaction, all outstanding Awards
shall be subject to the definitive transaction agreement. Such agreement shall provide for one or
more of the following:

     (a) The continuation of such outstanding Awards by the Company (if the Company
is the surviving corporation).

     (b) The assumption of such outstanding Awards by the surviving corporation or
its parent, provided that the assumption of Options or SARs shall comply with
Section 424(a) of the Code (whether or not the Options are ISOs).

     (c) The substitution by the surviving corporation or its parent of new awards
for such outstanding Awards, provided that the substitution of Options or SARs shall
comply with Section 424(a) of the Code (whether or not the Options are ISOs).

     (d) The cancellation of such outstanding Options and SARs. The Optionees shall
be able to exercise vested Options and SARs during a period of not less than five
full business days preceding the closing date of the transaction, unless (i) a
shorter period is required to permit a timely closing of such transaction and (ii)
such shorter period still offers the Optionees a reasonable opportunity to exercise
such Options and SARs. Any exercise of such Options and SARs during such period may
be contingent on the closing of the transaction.

     (e) The cancellation of vested outstanding Options and SARs and a payment to
the Optionees equal to the excess of (i) the Fair Market Value of the Common Shares
subject to such Options and SARs as of the closing date of the transaction over (ii)
their Exercise Price. 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. If the Exercise Price of the Common
Shares subject to such Options and SARs exceeds the Fair Market Value of such Common
Shares, then such Options and SARs may be cancelled without making a payment to the
Optionees. For purposes of this Subsection (e), the Fair Market Value of any
security shall be determined without regard to any vesting conditions that may apply
to such security.

     (f) The cancellation of outstanding vested Stock Units and a payment to the
Participants equal to the Fair Market Value of the Common Shares subject to such
Stock Units as of the closing date of the transaction. Such payment shall be made
in the form of cash, cash equivalents, or securities of the surviving corporation or
its parent with a Fair Market Value equal to the required amount. Such payment may
be made in installments and may be deferred until the date or dates when such Stock
Units would have vested or would otherwise have been settled under the Stock Unit
Agreement. Such payment may be subject to vesting based on the Participant’s
continuing Service, provided that the vesting schedule shall not be less favorable
the Participant than the schedule under which

10

 

such Stock Units would have vested. For purposes of this Subsection (f), the
Fair Market Value of any security shall be determined without regard to any vesting
conditions that may apply to such security.

     ARTICLE 12. PAYMENT OF DIRECTOR’S FEES IN SECURITIES.

     12.1 Effective Date. No provision of this Article 12 shall be effective unless and until the Board has
determined to implement such provision.

     12.2 Elections to Receive NSOs, Restricted Shares or Stock Units. An Outside Director may elect to receive his or her annual retainer payments and/or meeting
fees from the Company in the form of cash, NSOs, Restricted Shares or Stock Units, or a combination
thereof, as determined by the Board. Such NSOs, Restricted Shares and Stock Units shall be issued
under the Plan. An election under this Article 12 shall be filed with the Company on the
prescribed form.

     12.3 Number and Terms of NSOs, Restricted Shares or Stock Units. The number of NSOs, Restricted Shares or Stock Units to be granted to Outside Directors in
lieu of annual retainers and meeting fees that would otherwise be paid in cash shall be calculated
in a manner determined by the Board. The terms of such NSOs, Restricted Shares or Stock Units
shall also be determined by the Board.

     ARTICLE 13. LIMITATION ON RIGHTS.

     13.1 Retention Rights. Neither the Plan nor any Award granted under the Plan shall be deemed to give any
individual a right to remain an Employee, Outside Director or Consultant. The Company and its
Parents, Subsidiaries and Affiliates reserve the right to terminate the Service of any Employee,
Outside Director or Consultant at any time, with or without cause, subject to applicable laws, the
Company’s certificate of incorporation and by-laws and a written employment agreement (if any).

     13.2 Stockholders’ Rights. Except as set forth in Section 8.4 or Section 9.4 above, Participant shall have no dividend
rights, voting rights or other rights as a stockholder with respect to any Common Shares covered by
his or her Award prior to the time when a stock certificate for such Common Shares is issued or, if
applicable, the time when he or she becomes entitled to receive such Common Shares by filing any
required notice of exercise and paying any required Exercise Price. No adjustment shall be made
for cash dividends or other rights for which the record date is prior to such time, except as
expressly provided in the Plan.

     13.3 Regulatory Requirements. Any other provision of the Plan notwithstanding, the obligation of the Company to issue
Common Shares under the Plan shall be subject to all applicable laws, rules and regulations and
such approval by any regulatory body as may be required. The Company reserves the right to
restrict, in whole or in part, the delivery of Common Shares pursuant to any Award prior to the
satisfaction of all legal requirements relating to the issuance of such Common Shares, to their
registration, qualification or listing or to an exemption from registration, qualification or
listing.

11

 

     ARTICLE 14. TAXES.

     14.1 General. To the extent required by applicable federal, state, local or foreign law, a Participant or
his or her successor shall make arrangements satisfactory to the Company for the satisfaction of
any withholding tax obligations that arise in connection with the Plan. The Company shall not be
required to issue any Common Shares or make any cash payment under the Plan until such obligations
are satisfied.

     14.2 Share Withholding. To the extent that applicable law subjects a Participant to tax withholding obligations,
the Committee may permit such Participant to satisfy all or part of such obligations by having the
Company withhold all or a portion of any Common Shares that otherwise would be issued to him or her
or by surrendering all or a portion of any Common Shares that he or she previously acquired. Such
Common Shares shall be valued at their Fair Market Value on the date when they are withheld or
surrendered. This Section 14.2 shall apply only to the minimum extent required by applicable tax
laws.

     14.3 Section 409A Matters. Unless otherwise expressly set forth in an Award Agreement, it is intended that Awards
granted under the Plan shall be exempt from Code Section 409A, and any ambiguity in the terms of
Awards and the Plan shall be interpreted consistently with this intent. To the extent an Award is
not exempt from Code Section 409A (whether or not the Award Agreement expressly so states), any
ambiguity in the terms of such Award and the Plan shall be interpreted in a manner that to the
maximum extent permissible supports its compliance with the requirements of Code Section
409A(a)(2), (3) and (4). Notwithstanding anything to the contrary permitted under the Plan, in no
event shall a modification of an Award not already subject to Code Section 409A be given effect if
such modification would cause the Award to become subject to Code Section 409A unless the parties
explicitly acknowledge and consent to the modification as one having that effect.

     ARTICLE 15. PLAN AMENDMENTS AND TERMINATION.

     15.1 Term of the Plan. The Plan, as set forth herein, shall become effective on the IPO Date. The Plan shall
remain in effect until the earlier of (a) the date when the Plan is terminated under Section 15.2
or (b) the 10th anniversary of the date when the Board adopted the Plan.

     15.2 Amendment or Termination. The Board may, at any time and for any reason, amend or terminate the Plan. No Awards
shall be granted under the Plan after the termination thereof. The termination of the Plan, or any
amendment thereof, shall not affect any Award previously granted under the Plan.

     15.3 Stockholder Approval. An amendment of the Plan shall be subject to the approval of the Company’s stockholders
only to the extent required by applicable laws, regulations or rules. However, Section 162(m) of
the Code may require that the Company’s stockholders approve:

     (a) The material terms of the Plan not later than the first regular meeting of
stockholders that occurs in the fourth calendar year following the calendar year in
which the IPO Date occurred; and

12

 

     (b) The performance criteria set forth in Appendix A not later than the first
meeting of stockholders that occurs in the fifth year following the year in which
the Company’s stockholders previously approved such criteria.

     ARTICLE 16. DEFINITIONS.

     16.1 “Affiliate” means any entity other than a Subsidiary, if the Company and/or one or more
Subsidiaries own not less than 50% of such entity.

     16.2 “Award” means an award of Options, SARs, Restricted Shares or Stock Units.

     16.3 “Board” means the Company’s Board of Directors, as constituted from time to time.

     16.4 “Cause” means:

     (a) An unauthorized use or disclosure by the Participant of the Company’s
confidential information or trade secrets, which use or disclosure causes material
harm to the Company;

     (b) A material breach by the Participant of any agreement between the
Participant and the Company;

     (c) A material failure by the Participant to comply with the Company’s written
policies or rules;

     (d) The Participant’s conviction of, or plea of “guilty” or “no contest” to, a
felony under the laws of the United States or any State thereof;

     (e) The Participant’s gross negligence or willful misconduct in connection with
his or her performance of services for the Company or an Affiliate;

     (f) A continuing failure by the Participant to perform assigned duties after
receiving written notification of such failure from the Board; or

     (g) A failure by the Participant to cooperate in good faith with a governmental
or internal investigation of the Company or its directors, officers or employees, if
the Company has requested the Participant’s cooperation.

     16.5 “Change in Control” means:

     (a) The consummation of a merger or consolidation of the Company with or into
another entity or any other corporate reorganization, if persons who were not
stockholders of the Company immediately prior to such merger, consolidation or other
reorganization own immediately after such merger, consolidation or other
reorganization 50% or more of the voting power of the

13

 

outstanding securities of each of (i) the continuing or surviving entity and
(ii) any direct or indirect parent corporation of such continuing or surviving
entity;

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

     (c) A change in the composition of the Board, as a result of which fewer than
50% of the incumbent directors are directors who either:

     (i) Had been directors of the Company on the date 24 months
prior to the date of such change in the composition of the Board
(the “Original Directors”); or

     (ii) Were appointed to the Board, or nominated for election to
the Board, with the affirmative votes of at least a majority of the
aggregate of (A) the Original Directors who were in office at the
time of their appointment or nomination and (B) the directors whose
appointment or nomination was previously approved in a manner
consistent with this Paragraph (ii); or

     (d) Any transaction as a result of which any person becomes the “beneficial
owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of
securities of the Company representing at least 50% of the total voting power
represented by the Company’s then outstanding voting securities. For purposes of
this Subsection (d), the term “person” shall have the same meaning as when used in
Sections 13(d) and 14(d) of the Exchange Act but shall exclude (i) a trustee or
other fiduciary holding securities under an employee benefit plan of the Company or
of a Parent or Subsidiary and (ii) a corporation owned directly or indirectly by the
stockholders of the Company in substantially the same proportions as their ownership
of the common stock of the Company.

A transaction shall not constitute a Change in Control if its sole purpose is to change the state
of the Company’s incorporation or to create a holding company that will be owned in substantially
the same proportions by the persons who held the Company’s securities immediately before such
transaction.

     16.6 “Code” means the Internal Revenue Code of 1986, as amended.

     16.7 “Committee” means the Compensation Committee of the Board, as further described in
Article 2.

     16.8 “Common Share” means one share of the common stock of the Company.

     16.9 “Company” means Qlik Technologies Inc., a Delaware corporation.

     16.10 “Consultant” means a consultant or adviser who provides bona fide services to the
Company, a Parent, a Subsidiary or an Affiliate as an independent contractor.

14

 

     16.11 “Corporate Transaction” has the same meaning as set forth in Section 16.5 above (which
defines “Change in Control”), except that the last sentence of such Section shall not be given
effect.

     16.12 “Employee” means a common-law employee of the Company, a Parent, a Subsidiary or an
Affiliate.

     16.13 “Exchange Act” means the Securities Exchange Act of 1934, as amended.

     16.14 “Exercise Price,” in the case of an Option, means the amount for which one Common 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, means an amount, as specified in the applicable
SAR Agreement, which is subtracted from the Fair Market Value of one Common Share in determining
the amount payable upon exercise of such SAR.

     16.15 “Fair Market Value” means the price at which Common Shares were last sold in the
principal U.S. market for Common Shares on the applicable date or, if the applicable date was not a
trading day, on the last trading day prior to the applicable date. If Common Shares are no longer
traded on a public U.S. securities market, the Fair Market Value shall be determined by the
Committee in good faith on such basis as it deems appropriate. The Committee’s determination shall
be conclusive and binding on all persons.

     16.16 “Involuntary Termination” means the termination of the Participant’s Service by reason
of:

     (a) The involuntary discharge of the Participant by the Company (or the Parent,
Subsidiary or Affiliate employing him or her) for reasons other than Cause;

     (b) The voluntary resignation of the Participant following (i) a material
adverse change in his or her authority or responsibilities with the Company (or the
Parent, Subsidiary or Affiliate employing him or her), (ii) a material reduction in
his or her base salary or (iii) receipt of notice that his or her principal
workplace will be relocated by more than 30 miles as a result of which his or her
commute increase by at least 30 miles; or

     (c) Any other reason approved by the Committee.

     16.17 “IPO Date” means the effective date of the registration statement filed by the Company
with the Securities and Exchange Commission for its initial offering of Common Shares to the
public.

     16.18 “ISO” means an incentive stock option described in Section 422(b) of the Code.

     16.19 “NSO” means a stock option not described in Sections 422 or 423 of the Code.

15

 

     16.20 “Option” means an ISO or NSO granted under the Plan and entitling the holder to purchase
Common Shares.

     16.21 “Optionee” means an individual or estate holding an Option or SAR.

     16.22 “Outside Director” means a member of the Board who is not an Employee.

     16.23 “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.

     16.24 “Participant” means an individual or estate holding an Award.

     16.25 “Performance Goal” means a goal established by the Committee for the applicable
Performance Period based on one or more of the performance criteria set forth in Appendix A.
Performance Goals may be established either on a Company-wide basis or with respect to one or more
business units, divisions, Subsidiaries, Affiliates or business segments and either in absolute
terms or relative to the performance of one or more comparable companies or one or more relevant
indices. To the extent consistent with Section 162(m) of the Code, the Committee may adjust the
results under any performance criterion to exclude any of the following events that occurs during a
Performance Period: (a) asset write-downs, (b) litigation, claims, judgments or settlements, (c)
the effect of changes in tax laws, accounting principles or other laws or provisions affecting
reported results, (d) accruals for reorganization and restructuring programs, (e) extraordinary,
unusual or non-recurring items, (f) exchange rate effects for non-U.S. dollar denominated net sales
and operating earnings or (g) statutory adjustments to corporate tax rates.

     16.26 “Performance Period” means a period of time selected by the Committee over which the
attainment of one or more Performance Goals will be measured for the purpose of determining a
Participant’s right to an Award of Restricted Shares or Stock Units that vests on the basis of
performance. Performance Periods may be of varying and overlapping duration, at the sole
discretion of the Committee.

     16.27 “Plan” means this Qlik Technologies Inc. 2010 Omnibus Equity Incentive Plan, as amended
from time to time.

     16.28 “Restricted Share” means a Common Share awarded under the Plan.

     16.29 “Restricted Stock Agreement” means the agreement between the Company and the recipient
of a Restricted Share that contains the terms, conditions and restrictions pertaining to such
Restricted Share.

     16.30 “SAR” means a stock appreciation right granted under the Plan.

16

 

     16.31 “SAR Agreement” means the agreement between the Company and an Optionee that contains
the terms, conditions and restrictions pertaining to his or her SAR.

     16.32 “Service” means service as an Employee, Outside Director or Consultant.

     16.33 “Stock Option Agreement” means the agreement between the Company and an Optionee that
contains the terms, conditions and restrictions pertaining to his or her Option.

     16.34 “Stock Unit” means a bookkeeping entry representing the equivalent of one Common Share,
as awarded under the Plan.

     16.35 “Stock Unit Agreement” means the agreement between the Company and the recipient of a
Stock Unit that contains the terms, conditions and restrictions pertaining to such Stock Unit.

     16.36 “Subsidiary” means any corporation (other than the Company) in an unbroken chain of
corporations beginning with the Company, if each of the corporations other than the last
corporation in the unbroken chain owns stock possessing 50% or more of the total combined voting
power of all classes of stock in one of the other corporations in such chain. A corporation that
attains the status of a Subsidiary on a date after the adoption of the Plan shall be considered a
Subsidiary commencing as of such date.

17

 

Appendix A

Performance Criteria

The Committee may establish Performance Goals derived from one or more of the following criteria
when it makes Awards of Restricted Shares or Stock Units that vest entirely or in part on the basis
of performance:

	•	 	Earnings (before or after taxes)
	 
	•	 	Earnings per share
	 
	•	 	Earnings before interest, taxes
and depreciation
	 
	•	 	Earnings before interest,
taxes, depreciation and amortization
	 
	•	 	Total stockholder return
	 
	•	 	Return on equity or average
stockholders’ equity
	 
	•	 	Return on assets, investment or
capital employed
	 
	•	 	Operating income
	 
	•	 	Gross margin
	 
	•	 	Operating margin
	 
	•	 	Net operating income
	 
	•	 	Net operating income after tax
	 
	•	 	Return on operating revenue
	 
	•	 	To the extent that an Award is not intended to comply with Section
162(m) of the Code, other measures of performance selected by the Committee
	 
	•	 	Sales or revenue
	 
	•	 	Expense or cost reduction
	 
	•	 	Working capital
	 
	•	 	Economic value added (or an equivalent metric)
	 
	•	 	Market share
	 
	•	 	Cash flow
	 
	•	 	Operating cash flow
	 
	•	 	Cash flow per share
	 
	•	 	Share price
	 
	•	 	Debt reduction
	 
	•	 	Customer satisfaction
	 
	•	 	Stockholders’ equity
	 
	•	 	Contract awards or backlog

18exv10w25wa

Exhibit 10.25.A

QLIK TECHNOLOGIES INC.

2007 OMNIBUS STOCK OPTION AND AWARD PLAN

NON-QUALIFIED STOCK OPTION AWARD AGREEMENT

     THIS NON-QUALIFIED STOCK OPTION AWARD AGREEMENT (the “Agreement”) is made and
entered into as of the 21st day of May, 2010 by and between QLIK TECHNOLOGIES INC., a Delaware
corporation (the “Corporation”), and Anthony Deighton (the “Participant”).

Statement of Purpose

     The Participant is an employee or director of or consultant to the Corporation or a Subsidiary
who provides, and is expected to continue to provide, significant contributions to the success of
the Corporation or a Subsidiary. To recognize this service and to provide an incentive for future
service, the Participant is hereby granted a Non-Qualified Stock Option to purchase shares of the
Corporation’s Common Stock pursuant to the terms of the Qlik Technologies Inc. 2007 Omnibus Stock
Option and Award Plan (the “2007 Plan”). In that regard, the Corporation and the
Participant desire to restrict the sale of the shares of the Corporation’s Common Stock issuable to
the Participant upon exercise of the option granted hereunder to provide for the repurchase of such
shares in certain instances on the terms and conditions hereinafter set forth. Capitalized terms
used and not otherwise defined in this Agreement shall have the meanings set forth in the 2007
Plan.

     NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained,
the parties hereto, intending to be legally bound, hereby agree as follows:

     1. Award. The Participant is hereby granted the option to purchase 50,000 shares of
the Corporation’s Common Stock (the “Option”). The Option Period shall commence on the
Grant Date, May 21, 2010, and shall terminate upon the earliest of (i) May 20, 2020 or (ii) January
1, 2011 in the event that the Vesting Event (as defined below) does not occur on or prior to
December 31, 2010. The Option Price shall be $6.91 per share.

     2. Vesting and Exercise of Options. Except as otherwise provided hereunder, the
Option shall vest and be exercisable from time to time in accordance with the following schedule
(purchases may be cumulative); provided, that as of each such date the Participant is still
employed by or providing services to the Corporation or a Subsidiary:

     The Option shall not be exercisable until the completion of an initial public offering by the
Corporation of its equity securities pursuant to an effective registration statement filed under
the Act (as defined below) that occurs on or before December 31, 2010 (the “Vesting
Event”). After the Vesting Event, the Option shall vest with respect to 1/16th of
the shares subject to the Option when the Participant completes three months of continuous service
as an employee, director or consultant of the Corporation or a Subsidiary following January 1,
2011. The Option shall vest with respect to an additional 1/16th of the shares subject
to the Option when the Participant completes each three month period of continuous service as an
employee, director or consultant of the Corporation or a Subsidiary thereafter. The Option may vest
on an accelerated basis under Section 4(e) of this Agreement. In the event that the Vesting Event
does not occur on or prior to December 31, 2010, then the Option shall expire in full on January 1,
2011.

     3. Termination of Options.

     (a) The Option may not be exercised after the expiration of the Option Period and is only
exercisable as provided in Sections 2 and 4 of this Agreement. The Option hereby granted
shall terminate and be of no force or effect upon the earliest of (i) the expiration of the Option
Period or (ii) January 1, 2011 in the event that the Vesting Event does not occur on or prior to
December 31, 2010. In addition, if

 

 

the Participant has a Termination of Service during the Option
Period for any reason, the unvested portion
of the Option shall terminate.

     (b) Subject to the limitations set forth in this Agreement and in the 2007 Plan, the
Participant may exercise the vested portion of the Option in whole or in part at any time or from
time to time from the Grant Date until the first to occur of:

     (i) three (3) months following the date of the Participant’s Termination of Service for
any reason other than death or Disability;

     (ii) one (1) year following the date of the Participant’s death, if an employee,
director or consultant at the time of death (during which one-year period the Option may be
exercised (to the extent otherwise exercisable) by the person to whom the Participant’s
rights hereunder shall have passed by will or by the laws of descent and distribution
(hereinafter, a “Successor”));

     (iii) one (1) year following the date of the Participant’s Termination of Service due
to Disability; or

     (iv) the expiration of the Option Period.

     4. Exercise of Options.

     (a) Notice of Exercise. The Option may be exercised by written notice to the
Corporation at the address set forth in Section 10 hereof, or such other address to which
the principal office of the Corporation may be relocated, which notice shall: (i) be signed by the
Participant (or, if applicable, by the Participant’s Successors); (ii) state the number of shares
with respect to which the Option is being exercised; and (iii) contain such other information as
the Committee may require.

     (b) Payment of Option Price. Payment in full of the Option Price shall be made at the
time of the written notice of exercise of the Option: (i) in cash or by check payable to the order
of the Corporation; (ii) by delivery of shares of Common Stock already owned by and in the
Participant’s possession; or (iii) any combination thereof. Shares of Common Stock which the
Participant previously held and surrendered in accordance with rules and regulations adopted by the
Committee for the purpose of making full or partial payment of the Option Price shall be valued for
such purpose at the Fair Market Value thereof on the date the Option, or portion thereof, is
exercised.

     (c) Conditions to Exercise. As a condition to the exercise of the Option and the
issuance of shares of the Corporation’s Common Stock upon exercise thereof, the Corporation may:

     (i) require the Participant to satisfy any qualifications that may be necessary or
appropriate to evidence compliance with any applicable law or regulation and make any
representation or warranty with respect thereto as may be requested by the Corporation; and

     (ii) obtain such agreements or undertakings from the Participant, if any, as the
Corporation may deem necessary or advisable to insure that the Participant is bound with
respect to any transfer or other restrictions that may be contained in any agreement among,
or restricting the rights of, the Corporation’s Common Stock stockholders at the time of
exercise, or with respect to any restrictions imposed upon stockholders by underwriters in
connection with a public offering referred to in Section 9.

     (d) Certificates. As soon as practicable after each of the Participant’s notice of
exercise described in Section 4(a) above and the Option Price have been received by the
Corporation, the Corporation shall deliver to the Participant a stock certificate registered in the
Participant’s name representing the shares of Common Stock to be issued under the Option.

 

 

     (e) Acceleration. If following the Vesting Event, within the one-year period
following a Change of Control, there is a Termination of Service with respect to the Participant
due to a Termination
Without Cause, the Option vesting schedule set forth in Section 2 above shall be accelerated
by a period of 12 months measured from the date of such Termination of Service.

     5. Representations of Participant. The Participant represents and agrees as follows:

     (a) Ownership of Shares. Following exercise of all or a portion of the Option, the
Participant will be the owner of the Award Shares issued, free and clear of any liens or
encumbrances, except for restrictions set forth in the 2007 Plan, any agreement among the Common
Stock stockholders, or otherwise referenced herein. The Participant agrees that this Agreement
shall be applicable to such Award Shares.

     (b) No Registration of Shares. The Participant acknowledges that, in addition to
the restrictions on transfer contained in this Agreement, the Participant has been informed by
the Corporation that, inasmuch as the Award Shares have not been registered under the Securities
Act of 1933, as amended (the “Act”) such securities must be held indefinitely unless
subsequently registered or an exemption from registration is available. The Participant further
acknowledges that the Corporation is under no obligation either to register the Award Shares or
the Option or to take any action to make available any exemption from registration or to supply
any information to facilitate sales of such securities. The Participant represents and warrants
that the Award Shares will be acquired by the Participant for investment and not with a view to
the distribution thereof and that, under no circumstances, shall such securities be transferred
in violation of federal or state securities laws. The Participant further agrees that there
shall be either lodged with any stock transfer agent for the Corporation or noted on the stock
transfer records of the Corporation a stop transfer order against the Award Shares and that
there shall be imprinted upon the certificate or certificates issued to the Participant
evidencing such Award Shares a legend reading substantially as follows:

“THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT
OF 1933 OR THE SECURITIES LAWS OF ANY STATE, AND MAY NOT BE SOLD OR OTHERWISE
DISPOSED OF IN THE ABSENCE OF EFFECTIVE REGISTRATION UNDER SAID ACT AND LAWS OR THE
AVAILABILITY OF AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS THEREOF.
THE ISSUER HEREOF MAY, AS A CONDITION TO ITS EFFECTING ANY TRANSFER HEREOF, REQUIRE
AN OPINION OF COUNSEL SATISFACTORY TO IT TO THE EFFECT THAT SUCH TRANSFER DOES NOT
VIOLATE SAID REQUIREMENTS.”

     6. Corporation’s Right to Repurchase Award Shares following Termination of Service.

     (a) If there is a Termination of Service with respect to the Participant for any reason at
anytime (including, without limitation, the Participant’s death or Disability), then the
Corporation shall have the right, but not the obligation, to repurchase any Award Shares at a
purchase price per share determined as set forth in Section 6(b) below.

     (b) The Corporation’s right to repurchase Award Shares following the Participant’s Termination
of Service as provided in Section 6(a) above may be exercised in whole or in part by the
Corporation, if at all, by the Corporation’s delivery to the Participant, within one hundred twenty
(120) days following the Termination of Service, of written notice of the Corporation’s election to
exercise. Such notice shall set forth the number of Award Shares to be purchased and the date and
time of closing of the purchase; provided that the date specified for closing shall not be
less than ten (10) days nor more than thirty (30) days from the date of the notice of election to
exercise. To the extent the Corporation does not initially elect to purchase all of the Award
Shares hereunder in its first written notice of election to exercise, the Corporation may, within
the 120-day period specified herein, elect to exercise its right to purchase any remaining Award
Shares by delivering to the Participant an additional written notice(s) of

 

 

election to exercise in
the manner provided above; provided, however, that unless otherwise agreed by the
parties, the closing date for all purchases under this Section 6 shall be on the closing
date set forth in the initial notice. On or before the closing set forth in the notice(s) of
election to exercise, the Participant
shall deliver to the Corporation the certificates representing the Award Shares being
purchased, duly endorsed for transfer to the Corporation, together with such additional documents
or instruments of transfer as the Corporation may request, in accordance with such notice. The
Corporation shall thereafter promptly send to the Participant payment for such purchase by check or
wire transfer based on a per share purchase price determined as follows:

     (i) Termination of Service for Any Reason Other than Termination for Cause. If
the Participant’s Termination of Service is for any reason other than a Termination for
Cause, including, without limitation, the Participant’s death, Disability, Termination
Without Cause, or voluntary quit, then the per share purchase price of the Award Shares
shall be their Fair Market Value.

     (ii) Termination of Service Due to Participant’s Termination for Cause. If the
Participant’s Termination of Service is due to a Termination for Cause, then the per share
price of the Award Shares shall be the Option Price per share paid by the Participant for
such Award Shares, as adjusted for any stock splits, stock dividends, recapitalizations or
the like.

     7. Corporation’s Right of First Refusal.

     (a) If at any time the Participant proposes to Transfer (as defined in Section 7(g)
below) any Award Shares (including, without limitation, any securities acquired upon conversion
thereof or by way of any stock split, stock dividend, recapitalization or the like), then the
Participant shall promptly give the Corporation advance written notice of the Participant’s
intention to make the Transfer (the “Transfer Notice”). The Transfer Notice shall include:
(i) a description of the Award Shares to be transferred (the “Offered Shares”), (ii) the
name(s) and address(es) of the prospective transferee(s), (iii) the consideration, and (iv) the
material terms and conditions upon which the proposed Transfer is to be made. The Transfer Notice
shall certify that the Participant has received a bona fide firm offer from the prospective
transferee(s) and in good faith believes a binding agreement for the Transfer is obtainable on the
terms set forth in the Transfer Notice. The Transfer Notice shall also include a copy of any
written proposal, term sheet or letter of intent or other agreement relating to the proposed
Transfer. In the event that the transfer is being made pursuant to the provisions of Section
7(e), the Transfer Notice shall state under which specific subsection the Transfer is being
made.

     (b) The Corporation shall have the right, but not the obligation, for a period of thirty (30)
days from receipt by the Corporation of the Transfer Notice to elect to purchase the Offered Shares
at the same price and subject to the same material terms and conditions as described in the
Transfer Notice. The Corporation may exercise such purchase option and purchase all or any portion
of the Offered Shares by notifying the Participant in writing before expiration of such thirty (30)
day period as to the number of such Offered Shares that the Corporation wishes to purchase. If the
Corporation gives the Participant notice that it desires to purchase such shares, then payment for
the Offered Shares shall be by check or wire transfer, against delivery of the Offered Shares to be
purchased at a place agreed upon between the parties and at the time of the scheduled closing
therefor, which shall be no later than sixty (60) days after receipt by the Corporation of the
Transfer Notice, unless the Transfer Notice contemplated a later closing with the prospective
third-party transferee(s) or unless the value of the purchase price has not yet been established
pursuant to Section 7(c).

     (c) Should the purchase price specified in the Transfer Notice be payable in property other
than cash or evidences of indebtedness, the Corporation shall have the right to pay the purchase
price in the form of cash equal in amount to the fair market value of such property. If the
Participant and the Corporation cannot agree on such cash value within thirty (30) days after
receipt by the Corporation of the Transfer Notice, the valuation shall be made by an appraiser of
recognized standing in the United States selected by the Participant and the Corporation or, if
they cannot agree on an appraiser within forty

 

 

(40) days after receipt by the Corporation of the
Transfer Notice, each shall select an appraiser of recognized standing in the United States and
those appraisers shall designate a third appraiser of recognized standing in the United States,
whose appraisal shall be determinative of such value. The cost of such appraisal shall be shared
equally by the Participant and the Corporation. If the time for the
closing of the Corporation’s purchase has expired but the determination of the value of the
purchase price offered by the prospective transferee(s) has not been finalized, then such closing
shall be held on or prior to the tenth business day after such valuation shall have been made
pursuant to this Section 7(c).

     (d) To the extent that the Corporation has not exercised its right to purchase the Offered
Shares within the time periods specified in Section 7(b), the Participant shall have a
period of thirty (30) days from the expiration of such right in which to sell the Offered Shares,
upon terms and conditions (including the purchase price) no more favorable than those specified in
the Transfer Notice, to the third-party transferee(s) identified in the Transfer Notice. The
third-party transferee(s) shall acquire the Offered Shares subject to the Corporation’s continued
right of first refusal under this Agreement and must agree in writing to be bound with respect
thereto. In the event the Participant does not consummate the sale or disposition of the Offered
Shares within the thirty (30) day period from the expiration of this right, the Corporation’s first
refusal right shall continue to be applicable to any subsequent disposition of the Offered Shares
by the Participant until such right lapses in accordance with the terms of this Agreement.
Furthermore, the exercise or non-exercise of the right of the Corporation under this Section
7 to purchase the Offered Shares from the Participant shall not adversely affect its right to
make subsequent purchases from the Participant of Offered Shares.

     (e) Notwithstanding the provisions of Sections 7(a) and 7(b) of this
Agreement, the first refusal right of the Corporation shall not apply to: (i) the Transfer of Award
Shares to any spouse or member of the Participant’s immediate family, or to a custodian, trustee
(including a trustee of a voting trust), executor, or other fiduciary for the account of the
Participant’s spouse or members of the Participant’s immediate family, or to a trust for the
Participant’s own self, or a charitable remainder trust, or (ii) any sale of Award Shares to the
public pursuant to a registration statement filed with, and declared effective by, the U.S.
Securities and Exchange Commission under the Act; provided, however, that in the
event of any Transfer made pursuant to one of the exemptions provided by clause (e)(i): (A) the
Participant shall inform the Corporation in writing of such Transfer prior to effecting it, and (B)
each such transferee or assignee, prior to the completion of the Transfer, shall have executed
documents assuming the obligations of the Participant under this Agreement with respect to the
transferred Award Shares in a form approved by the Corporation. Such transferred Award Shares
shall remain subject to the provisions of this Section 7, and such pledgee, transferee or
donee shall be treated as the “Participant” for purposes of this Agreement.

     (f) Except as otherwise provided in this Agreement, the Participant will not sell, assign,
transfer, pledge, hypothecate or otherwise encumber or dispose of in any way, all of any part of or
any interest in the Award Shares. Any sale, assignment, transfer, pledge, hypothecation or other
encumbrance or disposition of Award Shares not made in conformance with this Agreement shall be
null and void, shall not be recorded on the books of the Corporation and shall not be recognized by
the Corporation.

     (g) For purposes of this Section 7, the term “Transfer” shall include any
sale, assignment, encumbrance, hypothecation, pledge, conveyance in trust, gift, transfer by
bequest, devise or descent, or other transfer or disposition of any kind, including, but not
limited to, transfers pursuant to divorce or legal separation, transfers to receivers, levying
creditors, trustees or receivers in bankruptcy proceedings or general assignees for the benefit of
creditors, whether voluntary, involuntarily or by operation of law, directly or indirectly, of any
of the Award Shares.

     (h) All certificates representing the Award Shares, in addition to other legends that may be
required by applicable law or pursuant to agreement of the Corporation’s stockholders, shall bear
the following legend:

 

 

“THE SALE, PLEDGE, HYPOTHECATION, ASSIGNMENT OR TRANSFER OF THE SECURITIES REPRESENTED BY
THIS CERTIFICATE IS SUBJECT TO THE TERMS AND CONDITIONS OF A CERTAIN NON-QUALIFIED STOCK
OPTION AWARD
AGREEMENT BY AND BETWEEN THE STOCKHOLDER AND THE CORPORATION. COPIES OF SUCH AGREEMENT
MAY BE OBTAINED UPON WRITTEN REQUEST TO THE SECRETARY OF THE CORPORATION.”

     (i) The Corporation’s first refusal right hereunder shall terminate and be of no further force
or effect upon the earlier of: (i) the consummation of a bona fide, firmly underwritten public
offering of shares of the Corporation’s common stock at a public offering price which is not less
than $3.15 per share (as adjusted for any stock splits, stock dividends, combinations,
subdivisions, recapitalizations or the like) and greater than $30,000,000.00 in the aggregate, or
(ii) the consummation of a Liquidation Event, as that term is defined in the Corporation’s
Certificate of Incorporation (as amended from time to time).

     8. Change of Control. Notwithstanding any provision of this Agreement to the
contrary, in the event of a Change of Control, the Corporation’s option to repurchase Award Shares
under Section 6 shall terminate simultaneously with the consummation of such Change of
Control if the Participant is actively employed with the Corporation on the date of such Change of
Control, but in such event the Award Shares held by the Participant shall remain subject to the
Corporation’s right of first refusal under Section 7 hereof, and may be subject to
restrictions on transferability to the extent required by applicable law.

     9. Market Stand-Off. In connection with any underwritten public offering by the
Corporation of its equity securities pursuant to an effective registration statement filed under
the Act, including the Corporation’s initial public offering, the Participant or any person to whom
the Participant has directly or indirectly transferred any Award Shares under this Agreement (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 Award Shares acquired
under this Agreement without the prior written consent of the Corporation 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 Corporation
or such underwriters. In no event, however, shall such period exceed 180 days; provided,
however, notwithstanding the foregoing, if (i) during the last seventeen (17) days of the
one hundred eighty (180)-day restricted period, the Corporation issues an earnings release or
material news or a material event relating to the Corporation occurs; or (ii) prior to the
expiration of the one hundred eighty (180)-day restricted period, the Corporation announces that it
will release earnings results during the sixteen (16)-day period beginning on the last day of the
one hundred eighty (180)-day period, the restrictions imposed by this Section 9 shall continue to
apply until the expiration of the eighteen (18)-day period beginning on the issuance of the
earnings release or the occurrence of the material news or material event. The Market Stand-Off
shall in any event terminate two years after the date of the Corporation’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 Corporation’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 Award 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
Corporation may impose stop-transfer instructions with respect to the Award Shares acquired under
this Agreement until the end of the applicable stand-off period. The Corporation’s underwriters
shall be beneficiaries of the agreement set forth in this Section 9. This Section
9 shall not apply to Award Shares registered in the public offering under the Act, and the
Participant or a Transferee shall be subject to this Section 9 only if the directors and
officers of the

 

 

     Corporation are subject to similar arrangements.

     10. Notices. Any notice given hereunder must be in writing and shall be deemed given
when either personally delivered or placed in the United States mail by registered or certified
mail, return receipt requested, postage prepaid, addressed to the parties to whom such notice is
being given at the following addresses:

	 	 	 

	As to the Corporation:

	 	Qlik Technologies Inc.
	 

	 	150 N. Radnor Chester Road
	 

	 	Radnor, Pa. 19087
	 

	 	Attention: Lars Björk, President
	 
	 	 
	As to Participant:

	 	last address shown on the books of the Corporation

     11. Failure to Close; Remedies. In the event that the Corporation or the Participant
shall fail or refuse for any reason whatsoever to close the sale or repurchase of Award Shares as
the Corporation or the Participant is obligated by this Agreement, then the other party to the sale
or repurchase (the “non-defaulting party”) shall have the right to exercise any one or more of the
following rights and remedies:

     (a) The non-defaulting party shall have the right to recover damages from the defaulting party
for any loss or damage, including reasonable attorneys’ fees, sustained by the non-defaulting party
as a result of such default.

     (b) The non-defaulting party shall have the right to specifically enforce this Agreement by
seeking an injunction prohibiting the defaulting party from violating the terms of this Agreement
and requiring the defaulting party to purchase or sell the Award Shares, as the case may be.

The rights and remedies of the non-defaulting party under this Section 11 are cumulative
and not alternative and shall be in addition to any and all other rights and remedies available to
the non-defaulting party at law or in equity.

     12. Gifts. Nothing contained in this Agreement shall be construed or interpreted so
as to authorize or permit the Participant to transfer the Option by gift to any person or entity.

     13. Entire Agreement. This Agreement and the 2007 Plan contain the entire
understanding and agreement by and between the parties hereto relating to the subject matter hereof
and all prior or contemporaneous oral or written agreements or instruments are merged herein. No
amendment to or modification of this Agreement shall be effective unless the same is in writing and
signed by all parties hereto. No waiver by any party of any breach by the other of any provision
of this Agreement shall be deemed to be a waiver of any other breaches thereof or the waiver of any
such or other provision of this Agreement. Subject to the restrictions on assignment and transfer
set forth hereinabove, this Agreement shall be binding upon and inure to the benefit of the parties
hereto, their estates, personal representatives, successors and assigns.

     14. Severability. If any provision of this Agreement is declared invalid or
unenforceable as a matter of law, such invalidity or unenforceability shall not affect or impair
the validity or enforceability of any other provisions of this Agreement or the remainder of this
Agreement as a whole.

     15. Applicable Law. The validity, construction, interpretation or performance of this
Agreement shall be governed by and construed in accordance with the laws of the State of Delaware.

     16. Construction. Section headings and subheadings have been inserted herein for
convenience only and shall not be deemed to have any legal effect whatever in the interpretation of
this Agreement. As used herein, the singular shall include the plural, and the plural and
singular. The word

 

 

“any” means one or more or all, and the conjunction “or” includes both the
conjunctive and disjunctive.

     17. Counterparts. This Agreement may be executed in multiple counterparts, each of
which shall be deemed to be an original, and all of which taken together shall constitute one and
the same instrument.

     18. No Rights as a Stockholder Until Exercise. Under the 2007 Plan, neither the
Participant nor, if applicable, his or her personal representative, shall be nor have any rights or
privileges of a stockholder of the Corporation with respect to any shares of the Corporation’s
Common Stock which may
be acquired upon the exercise of the Option, in whole or in part, prior to the date upon which
the Option is actually exercised for such shares in accordance with the provisions of Section
4 hereof and the certificates representing such shares are issued.

     19. Tax Treatment. The Option is not deemed to be an Incentive Stock
Option and therefore does not qualify for special tax treatment under Section 422 of the Code.

 

 

     IN WITNESS WHEREOF, the Corporation and Participant have caused the execution of this
Agreement as of the date hereof, each intending to be legally bound hereby.

	 	 	 	 	 
	 	QLIK TECHNOLOGIES INC.

 	 
	 	By:  	/s/ Lars Björk
 	 
	 	 	Name:  	Lars Björk 	 
	 	 	Title:  	President 	 
	 
	 	PARTICIPANT

 	 
	 	/s/ Anthony Deighton
 	 
	 	Name:  	Anthony Deighton

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