Document:

2012 Stock Incentive Plan and form of agreements thereunder

 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	  

  

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		 	 	(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	  

  

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		 	 (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	  

  

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		 	(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 
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 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 

  

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	 	(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, 

  

VIOLIN MEMORY, INC. 
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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. 

  

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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. 

  

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 (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. 

  

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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; 

  

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	 	(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. 

  

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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. 

  

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 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.Warrant to Purchase Series D Preferred Stock

 Exhibit 4.4 
 THIS WARRANT AND THE SHARES PURCHASABLE HEREUNDER HAVE BEEN ACQUIRED FOR INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR QUALIFIED UNDER ANY STATE SECURITIES
LAWS. SUCH SECURITIES MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR QUALIFICATION OR AN EXEMPTION THEREFROM UNDER SAID ACT AND ANY APPLICABLE STATE SECURITIES LAWS. 

Dated: December 22, 2011 
 WARRANT TO PURCHASE 
 SERIES D PREFERRED STOCK OF 

VIOLIN MEMORY, INC. 
 This certifies that Toshiba America Electronic Components, Inc., or permitted assigns (collectively, the “Holder”), for value received, is entitled to purchase, at an exercise price of
$0.01 per share, from Violin Memory, Inc., a Delaware corporation (the “Company”), up to that number of fully paid and nonassessable Warrant Shares, equal to the quotient obtained in accordance with the following calculation:

  

											
		 	Warrant Shares	  	=	  		  	 Aggregate Unpaid Past Due Amounts
	 	
		 		  		  		  	the Stock Valuation Price	 	

 This Warrant shall be exercisable at any time from time to time up to and including the earlier of (i) 5:00 p.m.
(Pacific Time) on December 22, 2021, and (ii) immediately prior to the closing of any reorganization, consolidation or merger of the Company in a transaction pursuant to which the stockholders of the Company immediately prior to such
transaction do not hold a majority of the equity interests and voting power of the resulting or surviving entity immediately following such transaction (such earlier time being referred to herein as the “Expiration Date”) upon
delivery to the Company at its principal office of (i) the Form of Subscription attached hereto duly completed and executed, (ii) payment pursuant to Section 2 of the aggregate exercise price for the number of Warrant Shares for which
this Warrant is being exercised determined in accordance with the provisions hereof, and (iii) documentation supporting the applicable Aggregate Unpaid Past Due Amounts (as defined below) in respect of which this Warrant is being exercised. The
Stock Valuation Price and the number and constitution of the Warrant Shares purchasable hereunder are subject to adjustment as provided below and in Section 4 of this Warrant. 
 For purposes of this Warrant, (a) the term “Warrant Shares” means shares of Series D Preferred Stock, (b) the term “Stock Valuation Price” shall initially mean
$7.00 per share; provided that in the event of a Qualified Series D Preferred Stock Financing, the Stock Valuation Price shall be the price per share of the Company’s preferred stock sold by the Company in such Qualified Series D Preferred
Stock Financing, (c) the term “Qualified Series D Preferred Stock Financing” shall mean the next sale by the Company in a transaction or series of related transactions of shares of its preferred stock following the final
closing of the sale of the 

  
 1 

 
Company’s Series C Preferred Stock (whether such preferred stock is actually designated or denominated as Series D or otherwise; following a Qualified Series D Preferred Stock Financing, all
references herein to “Series D Preferred Stock” shall be deemed to be references to the preferred stock issued in a Qualified Series D Preferred Stock Financing) to investors in one or more transactions for aggregate cash proceeds to the
Company of no less than $2,000,000 for bona fide capital-raising purposes, and (d) the term “Aggregate Unpaid Past Due Amount” at any time shall mean the sum of (i) the aggregate undisputed unpaid amounts (including
interest accrued thereon) owed by the Company to Toshiba America Electronic Components, Inc. or its successor, that are then past due for payment pursuant to that certain Sales Agreement, dated effective as of June 27, 2011 by and between
Toshiba America Electronic Components, Inc. and the Company (the “Base Unpaid Past Due Amount”) and (ii) 0.5% of the Base Unpaid Past Due Amount; provided, however, that upon each exercise of this Warrant, the Aggregate Unpaid
Past Due Amount at the time of such exercise shall be reduced by the product obtained by multiplying (x) the number of Warrant Shares issued upon such exercise, by (y) the Stock Valuation Price. Upon written request of the Company at any
time, the Holder shall, as soon as reasonably practicable but in any event within 20 business days, deliver to Company a written statement of Holder’s computation of the Aggregate Unpaid Past Due Amount as of such date. 

The parties hereto acknowledge that this Warrant supersedes and replaces in all respects that certain Warrant to Purchase Series C
Preferred Stock of Violin Memory, Inc. issued to the Holder by the Company on February 2, 2011, which warrant is hereby rendered null, void and without further force or effect. 

1. Exercise; Issuance of Certificates; Acknowledgement. This Warrant is exercisable at the option of the holder of record hereof,
at any time or from time to time from the date hereof up to the Expiration Date for all or any part of the Warrant Shares (but not for a fraction of a share) which may be purchased hereunder. The Company agrees that the Warrant Shares purchased
under this Warrant shall be and are deemed to be issued to the Holder hereof as the record owner of such Warrant Shares as of the close of business on the date on which the executed Form of Subscription and supporting documentation delivered and
payment made for such Warrant Shares. Certificates for the Warrant Shares so purchased, together with any other securities or property to which the Holder hereof is entitled upon such exercise, shall be delivered to the Holder hereof by the Company
at the Company’s expense as soon as reasonably practicable but in any event within 20 business days after the rights represented by this Warrant have been so exercised. Each certificate so delivered shall be in such denominations of the Warrant
Shares as may be requested by the Holder hereof and shall be registered in the name of such Holder or its assignee. Notwithstanding anything to the contrary contained herein, unless the Holder otherwise notifies the Company, this Warrant shall be
deemed to be automatically exercised using the Net Issuance method pursuant to Section 2 hereof immediately prior to the time on the Expiration Date at which this Warrant ceases to be exercisable. 

2. Payment for Shares. The aggregate exercise price for Warrant Shares being purchased hereunder may be paid either (i) by
cash or wire transfer of immediately available funds, (ii) if the fair market value of one (1) Warrant Share on the date of exercise is greater than the exercise price, by surrender of a number of Warrant Shares which have a fair market
value equal to the aggregate exercise price of the Warrant Shares being purchased (“Net Issuance”) as determined herein, or (iii) any combination of the foregoing. If the Holder elects the Net

  
 2 

 
Issuance method of payment, the Company shall issue to Holder upon exercise a number of Warrant Shares determined in accordance with the following formula: 

 

					
	X=	  	 Y(A-B)
	  	
	  	A	  	

  

							
	where:	 	X	 	=	  	the number of Warrant Shares to be issued to the Holder;
				
		 	Y	 	=	  	the number of Warrant Shares with respect to which the Holder is exercising its purchase rights under this Warrant;
				
		 	A	 	=	  	the fair market value of one (1) Warrant Share on the date of exercise; and
				
		 	B	 	=	  	the exercise price.

 No fractional shares arising out of the above formula for determining the number of Warrant Shares to be
issued to the Holder shall be issued, and the Company shall in lieu thereof make payment to the Holder of cash in the amount of such fraction multiplied by the fair market value of one (1) Warrant Share on the date of exercise. For purposes of
this Warrant, the fair market value of one (1) Warrant Share shall mean (a) if the date of exercise is after the commencement of trading of the Common Stock on a securities exchange or over-the-counter but prior to the closing of the
initial public offering of the Company’s Common Stock pursuant to a registration statement under the Securities Act of 1933, as amended (the “IPO”), the price per share of such Common Stock to the public set forth on the final
prospectus relating to the IPO, multiplied (if Section 4.1 is not applicable) by the number of shares of Common Stock into which each Warrant Share is then convertible, (b) if the Common Stock is then traded on a securities exchange, the
average of the closing prices of such Common Stock on such exchange over the thirty (30) calendar day period (or portion thereof) ending three (3) days prior to the date of exercise, multiplied (if Section 4.1 is not applicable) by
the number of shares of Common Stock into which each Warrant Share is then convertible, (c) if the Common Stock is then regularly traded over-the-counter, the average of the closing sale prices or secondarily the closing bid of such Common
Stock over the thirty (30) calendar day period (or portion thereof) ending three (3) days prior to the date of exercise, multiplied (if Section 4.1 is not applicable) by the number of shares of Common Stock into which each Warrant
Share is then convertible, or (d) if there is no active public market for the Common Stock, the price per Warrant Share that the Company could obtain from a willing buyer for Warrant Shares sold by the Company, as such price shall be determined
in good faith by the Company’s board of directors. 
 3. Shares to be Fully Paid; Reservation of Shares. The Company
covenants and agrees that all Warrant Shares which may be issued upon the exercise of the rights represented by this Warrant (together with all shares of Common Stock issuable upon conversion of such Warrant Shares, if applicable) will, upon
issuance, be duly authorized, validly issued, fully paid and nonassessable and free from all preemptive rights of any stockholder and free of all taxes, liens and charges with respect to the issue thereof. The Company further covenants and agrees
that during the period within which the rights represented by this Warrant may be exercised, the Company will at all times have authorized and reserved, for the purpose of issue or transfer upon

  
 3 

 
exercise of the subscription rights evidenced by this Warrant, a sufficient number of Warrant Shares (which shall initially be that number of authorized but unissued Series D Preferred Stock
equal to the quotient obtained by dividing $45,000,000 by the Stock Valuation Price) (together with the number of shares of Common Stock issuable upon conversion of such Warrant Shares, if applicable), or other securities and property, when and as
required to provide for the exercise of the rights represented by this Warrant. 
 4. Adjustment of Warrant Shares and Stock
Valuation Price. The Stock Valuation Price and the number and constitution of Warrant Shares purchasable upon the exercise of this Warrant shall be subject to adjustment from time to time upon the occurrence of certain events described in this
Section 4. Upon each adjustment of the Stock Valuation Price or number and constitution of Warrant Shares purchasable upon the exercise of this Warrant (as adjusted pursuant to this Section 4), the Holder of this Warrant shall thereafter
be entitled to purchase, at the exercise price of $0.01 per share, the number of Warrant Shares obtained by dividing the Aggregate Unpaid Past Due Amounts by the Stock Valuation Price subsequent to such adjustment. 

4.1 Conversion of Preferred Stock. If, at a time when the Warrant Shares consist of shares of Preferred Stock, all of the
outstanding Preferred Stock of the Company are converted into shares of Common Stock, then this Warrant shall automatically become exercisable for that number of shares of Common Stock equal to the number of shares of Common Stock that would have
been received if this Warrant had been exercised in full immediately prior to such event and the shares of Preferred Stock received thereupon had been simultaneously converted into shares of Common Stock in connection with such event. Thereafter,
this Warrant shall become exercisable for such adjusted number of Warrant Shares consisting of shares of Common Stock, and the Stock Valuation Price shall not be adjusted. 
 4.2 Subdivisions, Combinations and Dividends. In case the Company shall at any time subdivide its outstanding Warrant Shares into a greater number of shares or pay a dividend in Warrant Shares in
respect of outstanding Warrant Shares, the Stock Valuation Price in effect immediately prior to such subdivision or at the record date of such dividend shall be proportionately reduced, and conversely, in case the outstanding Warrant Shares shall be
combined into a smaller number of shares, the Stock Valuation Price in effect immediately prior to such combination shall be proportionately increased. 
 4.3 Reclassification. If any reclassification of the capital stock of the Company shall be effected in such a way that holders of Warrant Shares shall be entitled to receive stock, securities, or
other assets or property (collectively, the “Reclassification Substitute”), then, as a condition of such reclassification, lawful and adequate provisions shall be made whereby the Holder hereof shall thereafter have the right to
purchase and receive (in lieu of the Warrant Shares immediately theretofore purchasable and receivable upon the exercise of the rights represented hereby) such amount of Reclassification Substitute as may be issued or payable with respect to or in
exchange for a number of outstanding Warrant Shares equal to the number of Warrant Shares immediately theretofore purchasable and receivable upon the exercise of the rights represented hereby. Thereafter, this Warrant shall be exercisable for such
adjusted number of Warrant Shares consisting of Reclassification Substitute and the Stock Valuation Price shall not be adjusted. In any reclassification described above, appropriate provision shall

  
 4 

 
be made with respect to the rights and interests of the Holder of this Warrant to the end that the provisions hereof (including, without limitation, provisions for adjustments of the Stock
Valuation Price and of the amount of Reclassification Substitute purchasable and receivable upon the exercise of this Warrant) shall thereafter be applicable, as nearly as may be, in relation to any Reclassification Substitute thereafter deliverable
upon the exercise hereof. 
 4.4 Notice of Adjustment. Upon any adjustment of the Stock Valuation Price or the number and
constitution of Warrant Shares purchasable upon the exercise of this Warrant, the Company shall give written notice thereof, by first class mail postage prepaid, addressed to the registered Holder of this Warrant at the address of such Holder as
shown on the books of the Company. The notice shall be signed by the Company’s chief financial officer and shall state the Stock Valuation Price and number and constitution of Warrant Shares resulting from such adjustment, setting forth in
reasonable detail the method of calculation and the facts upon which such calculation is based. For the avoidance of doubt, the Company acknowledges that the Holder of this Warrant shall be entitled to the benefit of all adjustments in the number of
shares of Common Stock of the Company issuable upon conversion of Warrant Shares consisting of Preferred Stock which occur prior to the exercise of this Warrant, including without limitation, any increase in the number of shares of Common Stock
issuable upon conversion as a result of a dilutive issuance of capital stock. 
 4.5 Other Notices. If at any time:

 (1) the Company shall declare any cash dividend upon its Warrant Shares (or Common Stock issuable upon conversion thereof,
if applicable); 
 (2) there shall be any reorganization, consolidation or merger of the Company in a transaction pursuant to
which the stockholders of the Company immediately prior to such transaction do not hold a majority of the equity interests and voting power of the resulting or surviving entity immediately following such transaction; 

(3) there shall be any reclassification of the capital stock of the Company; 

(4) there shall be a voluntary or involuntary dissolution, liquidation or winding-up of the Company; or 

(5) there shall be an IPO; 

then, in any one or more of said cases, the Company shall give, by first class mail, postage prepaid, addressed to the Holder of this Warrant at the
address of such Holder as shown on the books of the Company, (a) at least twenty (20) days prior written notice of the date on which the books of the Company shall close or a record shall be taken for such dividend or for determining rights to vote
in respect of any such reorganization, reclassification, consolidation, merger, sale, dissolution, liquidation or winding-up, and (b) in the case of any such reorganization, reclassification, consolidation, merger, sale, dissolution, liquidation,
winding-up or public offering, at least twenty (20) days prior written notice of the date when the same shall take place. Any notice given in accordance with the foregoing clause (a) shall also specify, in the case of any such dividend, the date on
which the holders of Warrant Shares (or Common Stock issuable 

  
 5 

 
upon conversion thereof, if applicable) shall be entitled thereto. Any notice given in accordance with the foregoing clause (b) shall also specify the date on which the holders of Warrant
Shares (or Common Stock issuable upon conversion thereof, if applicable) shall be entitled to exchange their Warrant Shares (or Common Stock issuable upon conversion thereof, if applicable) for securities or other property deliverable upon such
reorganization, reclassification, consolidation, merger, sale, dissolution, liquidation, winding-up, conversion or public offering, as the case may be. 
 5. Miscellaneous. 
 5.1 Authorization of Series D Preferred Stock.
The Company hereby represents and warrants that on or prior to the date hereof, the Company has taken all required corporate actions to authorize and reserve for issuance upon exercise of this warrant at least 6,428,571 shares of Series D Preferred
Stock, each having a per share liquidation preference senior to all other shares of capital stock equal to or greater than $7.00. 
 5.2 Protective Provisions. From the date hereof until the closing of a Qualified Series D Preferred Stock Financing, other than in connection with the consummation of a Qualified Series D Preferred
Stock Financing that strictly complies with the terms of this Warrant, including but not limited to Section 5.3, the Company shall not, without first obtaining the written consent of the Holder: 

(a) alter or change, whether by merger, consolidation or otherwise, the rights, preferences or privileges of the shares of Series D
Preferred Stock; or 
 (b) increase or decrease the total number of authorized shares of Series D Preferred Stock. 

5.3 Series D Financing Documents. Upon the closing of any Qualified Series D Preferred Stock Financing, and whether or not the
Holder is issued shares of Series D Preferred Stock in connection with such Qualified Series D Preferred Stock Financing, the Holder shall, and shall be permitted to, enter into each agreement pursuant to which investors in the Qualified Series D
Preferred Stock Financing are granted contractual rights (and become subject to contractual obligations) in connection with the Qualified Series D Preferred Stock Financing, including, without limitation, an investors’ rights agreement or
registration rights agreement, a right of first refusal and co-sale agreement, and a voting agreement, thereby agreeing to be bound by all obligations and receive all rights thereunder as if the Holder were an investor in the Series D Preferred
Stock Financing with the effect that Holder shall become bound by the same obligations and entitled to the same rights thereunder with respect to Warrant Shares issued or issuable upon exercise of this Warrant as the other investors in such
Qualified Series D Preferred Stock Financing with respect to the shares of Series D Preferred Stock purchased by such other investors in such Qualified Series D Preferred Stock Financing. 

6. No Voting or Dividend Rights. Nothing contained in this Warrant shall be construed as conferring upon the Holder hereof the
right to vote or to consent to receive notice as a stockholder of the Company or any other matters or any rights whatsoever as a stockholder of the Company. No dividends or interest shall be payable or accrued in respect of this Warrant or

  
 6 

 
the interest represented hereby or the shares purchasable hereunder until, and only to the extent that, this Warrant shall have been exercised. 

7. Warrants Transferable. Subject to compliance with applicable federal and state securities laws, this Warrant and all rights
hereunder may be transferred, in whole or in part, without charge to the holder hereof (except for transfer taxes), upon surrender of this Warrant properly endorsed; provided, that the transferee shall be an entity that controls, is controlled by,
or is under common control with, the Holder (such entity, an “Affiliate”). For the avoidance of doubt, neither this Warrant nor any rights hereunder may be transferred to an entity that is not an Affiliate of the Holder. 

8. Lost Warrants. In the case of any loss, theft, destruction or mutilation of this Warrant, upon receipt of an indemnity
reasonably satisfactory to the Company, the Company, at its expense, will make and deliver a new Warrant, of like tenor, in lieu of the lost, stolen, destroyed or mutilated Warrant. 

9. Modification and Waiver. No term of this Warrant may be amended and the observance of any term of this Warrant may not be
waived (either generally or in a particular instance and either retroactively or prospectively) without the written consent of the Company and the Holder. 
 10. Notices. Except as may be otherwise provided herein, all notices, requests, waivers and other communications made pursuant to this Warrant shall be in writing and shall be conclusively deemed
to have been duly given (a) when hand delivered to the other party; (b) when sent by facsimile to the number set forth below if sent between 8:00 a.m. and 5:00 p.m. recipient’s local time on a business day, or on the next business day
if sent by facsimile to the number set forth below if sent other than between 8:00 a.m. and 5:00 p.m. recipient’s local time on a business day; (c) three business days after deposit in the U.S. mail with first class or certified mail
receipt requested postage prepaid and addressed to the other party at the address set forth below; or (d) the next business day after deposit with a national overnight delivery service, postage prepaid, addressed to the parties as set forth
below with next business day delivery guaranteed, provided that the sending party receives a confirmation of delivery from the delivery service provider. A party may change or supplement the addresses given below, or designate additional addresses,
for purposes of this Section 10 by giving the other party written notice of the new address in the manner set forth above. 

11. Governing Law. This Warrant is to be construed in accordance with and governed by the laws of the State of California.

  
 7 

 IN WITNESS WHEREOF, the Company has caused this Warrant to be duly executed by its officers,
thereunto duly authorized as of the date first above written. 
  

			
	VIOLIN MEMORY, INC.
		
	By:	 	 /s/ Donald G. Basile

		 	Donald G. Basile, President

 
			
		
	Address:	 	
	
	 Violin Memory, Inc.

685 Clyde Avenue
 Mountain View, CA
94043
 Facsimile: (650) 396-1543

  
 8 

 FORM OF SUBSCRIPTION 

(To be signed only upon exercise of Warrant) 
 To:
                                     

The undersigned, the holder of a right to purchase shares of Series D Preferred Stock of Violin Memory, Inc., a Delaware corporation (the
“Company”), pursuant to that certain Warrant to Purchase Series D Preferred Stock of Violin Memory, Inc. (the “Warrant”), dated as of
[                    ], hereby irrevocably elects to exercise the purchase right represented by such Warrant for, and to purchase thereunder,
                     (             ) shares of Series D Preferred Stock of the Company
and herewith makes payment of                      Dollars ($        ) therefor by the following method:

 (Check one of the following): 
  

			
		  	
	             (check if applicable)	  	The undersigned hereby elects to make payment of Dollars              ($        )
therefor in cash.
		
	             (check if applicable)	  	The undersigned hereby elects to make payment for the aggregate exercise price of this exercise using the Net Issuance method pursuant to Section 2 of the Warrant.

 The undersigned represents that it is acquiring such securities for its own account for investment and
not with a view to or for sale in connection with any distribution thereof. 
 The undersigned hereby represents and warrants
that the Aggregate Unpaid Past Due Amount (as defined in the Warrant) as of the date hereof is equal to $        . 
 DATED:
                                        

  

			
	TOSHIBA AMERICA ELECTRONIC COMPONENTS, INC.
		
	By:	 	  

		
	Name:	 	  

		
	Its:	 	

 AMENDMENT NO. 1 TO 

WARRANT TO PURCHASE SERIES D PREFERRED STOCK 
 OF VIOLIN MEMORY, INC. 
 THIS AMENDMENT NO. 1 TO WARRANT TO PURCHASE SERIES
D PREFERRED STOCK OF VIOLIN MEMORY, INC. (“Amendment”) is made as of the 30th day of November, 2012, by and among Violin Memory, Inc., a Delaware corporation (the “Company”), and Toshiba America Electronic
Components, Inc. or permitted assigns (the “Holder”). Terms not otherwise defined herein shall have the meaning ascribed to them in the Warrant (as defined below). 

RECITALS 
 A. The Company issued to the Holder a Warrant to Purchase Series D Preferred Stock dated December 22, 2011 (the “Warrant”), which Warrant superseded and replaced all other warrants
to purchase capital stock of the Company held by the Holder. 
 B. The Company and the Holder desire to amend the Warrant to
provide that the Warrant will terminate immediately prior to the closing of the Company’s initial public offering of its Common Stock, in addition to the occurrence of the events listed in the Warrant. 

C. The Warrant may be amended with the written consent of the Company and the Holder. 

NOW, THEREFORE, in consideration for the mutual amendments set forth herein, the receipt of which is hereby acknowledged, the
parties hereby agree as follows: 
 1. Amendment. The first sentence of the second paragraph of the Warrant is hereby
replaced and amended to read in its entirety as follows: 
 “This Warrant shall be exercisable at any time from time to
time up to and including the earliest of (i) 5:00 p.m. (Pacific Time) on December 22, 2021, (ii) immediately prior to the closing of any reorganization, consolidation or merger of the Company in a transaction pursuant to which the
stockholders of the Company immediately prior to such transaction do not hold a majority of the equity interests and voting power of the resulting or surviving entity immediately following such transaction, and (iii) immediately prior to the
closing of the sale of the Company’s Common Stock in a firm commitment, underwritten public offering registered under the Securities Act of 1933, as amended (other than a registration relating solely to a transaction under Rule 145 under
such Act (or any successor thereto) or to an employee benefit plan of the Company) (such earliest time being referred to herein as the “Expiration Date”) upon delivery to the Company at its principal office of (i) the Form of
Subscription attached hereto duly completed and executed, (ii) payment pursuant to Section 2 of the aggregate exercise price for the number of Warrant Shares for which this Warrant is being exercised determined in accordance with the
provisions hereof, and (iii) documentation supporting the applicable Aggregate Unpaid Due Amounts (as defined below) in respect of which this Warrant is being exercised.” 

 2. Severability. In case any one or more of the provisions contained in this
Amendment is for any reason held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other provision of this Amendment, and such invalid, illegal, or unenforceable provision
shall be reformed and construed so that it will be valid, legal, and enforceable to the maximum extent permitted by law. 
 3.
Governing Law. This Amendment shall be governed by, and construed in accordance with, the laws of the State of California, without giving effects to the conflicts of law principles thereof. 

4. Titles and Subtitles. The titles and subtitles used in this Amendment are for convenience only and are not to be considered in
construing or interpreting this Amendment. 
 5. Counterparts. This Amendment may be executed in two or more
counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument and shall be effective when executed by the Company and the Holder. This Amendment may also be executed and delivered by
facsimile signature or electronic delivery and in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 

* * * 

[Remainder of this page intentionally left blank] 

  
 -2-

 IN WITNESS WHEREOF, the parties have executed this Amendment No. 1 to Warrant to
Purchase Series D Preferred Stock as of the date first written above. 
  

			
	VIOLIN MEMORY, INC.
		
	By:	 	 /s/ Donald G. Basile

	Name:	 	Donald G. Basile
	Title:	 	President and Chief Executive Officer
	
	HOLDER
		
	By:	 	 /s/ Scott Nelson

	Name:	 	Scott Nelson
	Title:	 	Sr. Vice President
		 	Memory Business Development

  
  
  

 
  
  

VIOLIN MEMORY, INC. 
 SIGNATURE PAGE TO AMENDMENT NO. 1 TO WARRANT TO PURCHASE
SERIES D PREFERRED STOCK

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