Document:

exv4w2

 

Exhibit 4.2

SAP SHARE MATCHING PLAN

Terms of the Plan

 

Preamble

	(1)	 	SAP AG has, now and in the past, given executives and employees the chance, through various
share-based plans, to profit from the Company’s success in business and growth in corporate
value. The aims of any share-based compensation plan that includes long-term incentive and
risk elements are to offer participants a special incentive to achieve sustained value growth
for SAP AG, to reinforce participants’ commitment and allegiance to the companies in the SAP
Group by rewarding future loyalty, and to encourage employees to also become engaged,
long-term shareholders.
	 
	(2)	 	In pursuit of those aims, it is intended that this SAP AG Share Matching Plan (“SMP”) will
offer to executives and employees of SAP AG and its affiliates in the meaning of the German
Stock Corporation Act, section 15 (“Group Companies”), the opportunity to buy shares of SAP AG
(“Investment Shares”) and to obtain related bonus shares (“Matching Shares”) on the terms
below.

	(3)	 	For this purpose, the SMP enables SAP AG and Group Companies to offer subsidized Investment
Shares at a discounted price to their executives and employees, and entitles each such plan
participant later to obtain at no cost one (1) Matching Share to match every three (3)
Investment Shares, provided the plan participant does not alienate those Investment Shares
during a period (“Lock-In Period”) of three (3) years. The foregoing notwithstanding, Members
of Senior Leadership Team of

 

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	 	 	SAP AG and of Group Companies are entitled under the plan terms
below to buy undiscounted Investment Shares and after the Lock-In Period to obtain (2)
Matching Shares to match every three (3) Investment Shares.
	 
	(4)	 	There is a new tranche (“Plan Tranche”) in the SMP every year, and offers of Investment
Shares (each such offer being an “Offer” herein) are made in connection with each Plan
Tranche.
	 
	(5)	 	The following plan terms contain the provisions governing the SMP and set out the
requirements, conditions, and procedures that apply to every Offer of Investment Shares made
by SAP AG or any Group Company participating in the SMP.

Article 1

Shares Offered

	 	 	Each share offered under this SMP should be a voting, dividend-bearing, no-par bearer
share of SAP AG listed on the stock exchange at Frankfurt am Main, Germany, and identified
as ISIN DE 0007164600 and WKN 716460 (“SAP Stock”). If new shares that increase capital are
issued with a different dividend entitlement, those new shares may be SAP Stock with
different identification numbers.

Article 2

Execution of the SMP

	(1)	 	The Executive Board of SAP AG resolves at its own discretion to issue any Plan Tranche for
the SMP (the day on which it so resolves is referred 

 

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	 	 	to below as the “Resolution Day”). The
SAP AG Executive Board’s resolution in respect of any Plan Tranche will address all of the
following matters (and may also address other matters):

	 	a)	 	The issuance of the Plan Tranche and the participating Group Companies;
	 
	 	b)	 	The executives and employees or the classes of executives and employees to whom
an Offer under that Plan Tranche is to be made;
	 
	 	c)	 	When the Offer is to be made under that Plan Tranche and how long the Offer is to
remain open for acceptance (“Offer Validity Period”); provided, that the Offer Validity
Period shall end in the calendar year in which the Resolution Day occurs;
	 
	 	d)	 	The Plan Tranche budget for the SAP Stock to be issued to all plan participants;
	 
	 	e)	 	Whether the SAP Stock is to be treasury shares or new shares that increase
capital;
	 
	 	f)	 	Criteria for determining the maximum number of Investment Shares that each person
eligible to participate may buy; the criteria may include, among others, defined salary
bands or a percentage of the eligible persons gross salary in the previous year;
	 
	 	g)	 	The method of determining the purchase price, or the actual purchase price, and
any discount on Investment Shares;
	 
	 	h)	 	The date by which payments from persons eligible to participate must be completed
(“Closing Date”); provided, that the Closing Date shall occur in the same calendar year
as the Resolution Day.

 

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	(2)	 	The SAP AG Executive Board can decide different terms for certain countries or Group
Companies. The appropriate board or the management of each participating Group Company must
make all necessary statements and declarations and take the steps required by applicable law
to implement the Plan Tranche concerned for the plan participants in that participating Group
Company.
	 
	(3)	 	The matters resolved in respect of a Plan Tranche and the associated Offer (including but not
limited to matters specific to a country) are incorporated by reference into the terms of the
Offer. In particular, if an executive or employee is subject to US tax within the calendar
year of an Offer or subsequently as a plan participant may be subject to US tax due to a
transfer within the SAP Group or for any other reason, the Terms of the Plan considering
country-specific US-conditions (“US-Addendum”) are applicable as provided therein. The terms
of the Offer may vary from Plan Tranche to Plan Tranche.
	 
	(4)	 	Executives and employees with an employment contract with SAP AG receive their Offers from
SAP AG. The participating Group Companies make their Offers to executives and employees who
are in their employment or who are appointed to their boards, as the case may be, on terms
resolved by the SAP AG Executive Board. Divergent to the foregoing, executives and employees
of participating Group Companies receive their Offers from SAP AG in case this is required or
appropriate due country specific matters, in particular regarding any registration procedures
or any other reasons.

	(5)	 	If a plan participant’s employment contract with SAP AG or, as the case may be, a plan
participant’s employment contract or board appointment contract with the Group Company that
made the Offer is ended after the beginning of the Offer Validity Period or during the Lock-In
Period of the Plan Tranche and the plan participant enters into a new employment contract or
board appointment contract with another Group Company or with SAP AG or the plan participant
is transferred to another Group 

 

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	 	 	Company or to SAP AG, then SAP AG if it originally made the
Offer or the Group Company that originally made the Offer remains liable to that plan
participant on the Offer.

	(6)	 	All Offers made pursuant to the SMP are distinct from and neither incorporate nor are
incorporated in employment contracts or board appointment contracts, and the SMP is a
voluntary benefit offered by SAP AG or another Group Company. No series of Offers or repeated
Offers under the SMP can be construed as giving rise to a right of any executive or employee
to continuing or subsequent Offers or any equivalent benefit in the future (reservation of
employer’s discretion regarding voluntary benefits).

Article 3

Persons Eligible to Participate

	(1)	 	In its resolution in respect of the issuance of a Plan Tranche, the SAP AG Executive Board
determines which executives and employees or classes of executives and employees are eligible,
regardless of whether they are employed by SAP AG or by a participating Group Company, or
whether they are members of a board of a Group Company. Eligibility is restricted to
executives and employees who at the beginning of the Offer period in question have for not
less than seven (7) clear calendar months (the
“Qualifying Period”) continuously had an employment contract with SAP AG that has not been
terminated by either side or an employment contract or board appointment contract with a
participating Group Company that has not been terminated by either side and who have not
entered into a termination agreement with respect to their employment contract or board
appointment contract at the beginning of the Offer period in question. Only 

 

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	 	 	full calendar
months count toward the Qualifying Period. The members of the SAP AG Executive Board are not
eligible to participate in the SMP.

	(2)	 	The foregoing provisions notwithstanding, SAP AG or the participating Group Company may
determine at its own discretion the eligibility status of an executive or employee for a Plan
Tranche.

Article 4

Offer to Participate in the SMP

	(1)	 	Persons eligible to participate receive the SMP Offer of Investment Shares and free
Matching Shares on the terms below.
	 
	(2)	 	The Offer to participate in the SMP is made subject to the resolution made once a year by the
SAP AG Executive Board concerning the issuance of a Plan Tranche by SAP AG or by the Group
Company, as the case may be and subject to article 2 (4), with whom the person eligible to
participate has an employment contract or board appointment contract at the beginning of the
Offer Validity Period.

Article 5

Offer Validity Period

	(1)	 	The Offer of Investment Shares can be accepted by persons eligible to participate only
during and before expiration of the defined Offer Validity Period.
	 
	(2)	 	The SAP AG Executive Board defines the Offer Validity Period every year in its resolution
concerning the issuance of the Plan Tranche.

 

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Article 6

Voluntary Nature of Participation

	(1)	 	Participation in the SMP is voluntary for and is at the sole discretion of all persons
eligible to participate.
	 
	(2)	 	A decision not to participate in the SMP has no negative consequences for the board position
or employment of the person eligible to participate. Participation in the SMP is distinct from
and neither incorporates nor is incorporated in employment contracts or board appointment
contracts.

Article 7

Notice of Acceptance

	(1)	 	Contracts for Investment Shares are concluded where persons eligible to participate give
notice of acceptance of the individual Offer concerned and the notice of acceptance is
received within the Offer Validity Period. Notice
of acceptance must be given using the administration platform provided on the Internet or a
call center. Notice of acceptance also concludes a separate trust or custody
agreement as set out in article 12 below. Notices of acceptance received after the end
of the Offer Validity Period are ineffective.
	 
	(2)	 	Before the expiration of the Offer Validity Period, a person entitled to participate can use
the administration platform provided on the Internet or a call center to revoke a notice of
acceptance that has been received before the expiration of the Offer Validity Period. On
expiration of the Offer Validity Period, notice of acceptance becomes irrevocable and binding
on the plan participant. When notice of acceptance becomes effective, the 

 

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	 	 	plan participant
becomes bound by a personal obligation to pay the purchase price for the Investment Shares.

Article 8

Minimum and Maximum Numbers of Investment Shares Bought

	(1)	 	The plan participant’s acceptance must be in respect of a certain number of the Investment
Shares offered. The plan participant may accept fewer Investment Shares than offered, but the
number of shares bought must be divisible by three (3). If the plan participant decides to
participate, the lower limit number of Investment Shares that a plan participant can buy is
three (3).
	 
	(2)	 	The upper limit number of Investment Shares that a Member of Senior Leadership Team can buy
is determined by reference to a percentage of the target annual bonus (current on December 31
in the year before the Plan Tranche in question) for 100% target achievement. For all other
plan participants, the upper limit number of Investment Shares that can be bought depends on
the plan participant’s gross basic annual salary
(determined on December 31 in the year before the Plan Tranche in question) and is subject to
any applicable local rules. For part-time employees, it is the gross pro rata temporis salary
determined on December 31 in the year before the Plan Tranche in question that counts. The
SAP AG Executive Board determines the specific details for each Plan Tranche.
	 
	(3)	 	The plan participant can buy Investment Shares only within the limits set out above. If the
number of Investment Shares in the acceptance notice is not divisible by three (3), it is
rounded down to the next number of shares that is divisible by three (3).

 

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Article 9

Purchase Price and Discount; Applicable Stock Price

	(1)	 	The purchase price for one Investment Share is the arithmetic mean, calculated to two (2)
decimal places, of the closing prices (using closing auction prices) of SAP Stock in the XETRA
trading system (or its successor system) on the Frankfurt Stock Exchange on the fifth (5th) to
the first (1st) (inclusive) trading days on the Frankfurt Stock Exchange before the SAP AG
Executive Board’s resolution on the terms for the Plan Tranche in question on the Resolution
Day.
	 
	(2)	 	The SAP AG Executive Board determines the purchase price accordingly for each Plan Tranche in
its resolution pursuant to article 2 (1) herein.
	 
	(3)	 	All plan participants except Members of Senior Leadership Team can buy the Investment Shares
offered to them at a discount that is determined by the Executive Board. (Both the price so
discounted and the purchase price for Members of Senior Leadership Team are referred to as
“Purchase Price” hereinbelow.)
	 
	(4)	 	The Purchase Price is in euros. For plan participants with an employment contract or board
appointment contract outside the Economic and Monetary Union of the European Union, the
Purchase Price is translated into the appropriate national currency. The exchange rate used
for translation is the European Central Bank euro foreign exchange reference rate for the last
day on which a reference rate is published before the Resolution Day.

	(5)	 	If the price (closing auction price) of SAP Stock in the XETRA trading system (or an
appropriate successor system) on the Frankfurt Stock Exchange on the last trading day before
expiration of the Offer Validity Period is more than 20% less than the Purchase Price
determined on the 

 

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	 	 	Resolution Day, the Purchase Price is amended as follows: The amended
Purchase Price for one Investment Share is the arithmetic mean, calculated to two (2) decimal
places, of the closing auction prices of SAP Stock in the XETRA trading system (or an
appropriate successor system) on the Frankfurt Stock Exchange on the last five (5) trading
days before expiration of the Offer Validity Period. However, if the Purchase Price thus
amended is greater than the Purchase Price originally determined, the applicable amended
Purchase Price is the arithmetic mean, calculated to two (2) decimal places, of the closing
auction price of SAP Stock in the XETRA trading system (or an appropriate successor system) on
the Frankfurt Stock Exchange on the last trading day before expiration of the Offer Validity
Period, and the original Purchase Price.

Article 10

Settlement of Purchase

	(1)	 	The product of the Purchase Price and the number of Investment Shares accepted is the
total price payable by the plan participant (“Total Price”).
As far as possible and as far as the law permits, the Total Price is settled through the
payroll by being withheld, on an after-tax basis, from salary payable to the plan participant
before the Closing Date.
	 
	(2)	 	To this end, money may be withheld once or more than once before the Closing Date. The plan
participant agrees that salary payments may on occasion fall below the statutory monthly
minimum.
	 
	(3)	 	In special cases, SAP AG or a participating Group Company may accept a different means of
payment from the plan participant.

	(4)	 	The purchase of Investment Shares is subject to the condition precedent that plan participant
pays the Purchase Price. In the first instance, only as 

 

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	 	 	many Investment Shares are purchased
as are covered by withheld salary or other payments by the plan participant on or before the
Closing Date. If on the Closing Date the Total Price is not covered by such payments, the plan
participant remains liable on the balance. The notice of acceptance remains effective and
enforceable in respect of the balance of the Investment Shares not covered by withheld salary
or other payments. SAP AG and participating Group Companies reserve the right to rescind in
respect Investment Shares not covered by withheld salary or other payments.

	(5)	 	Plan participants will be informed locally of any matters relating to payroll and the payment
procedure that are specific to the country or to the Group Company.

Article 11

Transfer of Investment Shares

	 	 	SAP AG or a third party will transfer to the securities deposit account managed by the
plan administrator the Investment Shares bought by plan participants in the SMP; such
transfer shall occur on, or as soon as possible after, the Closing Date, and not later than
the 15th day of the third (3rd) month after the Closing Date.

Article 12

Plan Administration; Securities Deposit Account

	(1)	 	SAP AG has instructed a service provider to act as SMP plan administrator; the initial
plan administrator is UBS Deutschland AG. In this 

 

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	 	 	connection, the plan administrator also
provides trustee and securities account services in relation to the SAP Stock that the SMP
requires to be transferred.

	(2)	 	All SAP Stock bought in the SMP by plan participants is transferred to and registered in one
single securities account (“Securities Deposit Account”) held in trust by the plan
administrator.
	 
	(3)	 	For this purpose, each plan participant’s notice of acceptance of the Offer is associated
with a separate trust or custody agreement to be made between the plan participant
and the plan administrator in the form annexed to these plan terms or as otherwise provided by
SAP AG or the participating Group Company. That agreement is required for the
transfer of the SAP Stock and it arises between the plan participant and the plan
administrator when the plan participant accepts the plan terms by giving notice of acceptance
of the Offer.
	 
	(4)	 	At the time of adoption of these plan terms, it is not possible for a plan participant or a
plan participant’s personal representative or successor in title to give to the plan
administrator instructions for the purpose of managing income for tax efficiency.
	 
	(5)	 	If SAP AG’s contract with the plan administrator for administration of the SMP ends in
circumstances where the SMP continues, SAP AG will make arrangements for appropriate services
to be provided by another plan administrator that SAP AG will instruct at its sole discretion.
In such circumstances, the plan participant must give all notices and take all steps necessary
to end the trust or custody agreement and appoint a new plan administrator.
	 
	(6)	 	The procedures specified above and in article 19 may be altered and other procedures
established by SAP AG for a particular group of participants, as necessary or advisable for
tax or other reasons.

 

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Article 13

Lock-In Period

	(1)	 	All Investment Shares bought in the SMP are subject to a Lock-In Period of three (3)
years, during which plan participants cannot alienate Investment Shares or create any security
interest in or encumbrance on Investment Shares except as may be necessary for the proper
administration of the plan.
	 
	(2)	 	The Lock-In Period begins on the Resolution Day and ends after three years at the end of the
day that corresponds in name or number (in the
meaning of the German Civil Code, sections 187, 188) to the Resolution Day.
	 
	(3)	 	There is no effect on the Lock-In Period of the Plan Tranche if a plan participant’s
employment contract or board appointment contract with SAP AG or the Group Company that made
the Offer is ended during that Lock-In Period and the plan participant immediately enters into
a new employment contract or board appointment contract with another Group Company or with SAP
AG or the plan participant is immediately transferred to another Group Company or to SAP AG.

Article 14

The Right to Dividend and Other Shareholder Rights and Duties

During and After the Lock-In Period

	(1)	 	During the Lock-In Period, the plan participant is entitled without restriction to the
dividend and voting rights associated with the Investment Shares the plan participant bought.

 

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	(2)	 	The plan administrator transfers the dividend as provided in the trust or custodial agreement
to an account specified by the plan participant or the dividend is handled as appropriate
under local conditions.
	 
	(3)	 	Subject to applicable restrictions on insider transactions and subject to the provisions of
the SAP insider regulations, on expiration of the Lock-In Period the plan participant can
transfer the SAP Stock from the Securities Deposit Account to a personal securities account or
otherwise dispose of it direct from the Securities Deposit Account.

Article 15

Entitlement to Matching Shares

	(1)	 	The SMP entitles plan participants to obtain Matching Shares as follows:

	 	a)	 	In addition to every three (3) of their Investment Shares, executives (not
including Members of Senior Leadership Team) and employees of SAP AG and of
participating Group Companies can obtain one (1) free Matching Share.
	 
	 	b)	 	In addition to every three (3) of their Investment Shares, Members of Senior
Leadership Team can obtain two (2) free Matching Shares.

	(2)	 	The entitlement of all plan participants to obtain Matching Shares is subject to the
fulfillment of the following conditions throughout the Lock-In Period:

	 	a)	 	Subject as otherwise provided below in articles 16 and 17, the plan participant
is continuously in the employment or serving on a board of SAP AG or another Group
Company under a contract that has not been terminated by either side.

 

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	 	b)	 	The plan participant continuously holds an appropriate number of Investment
Shares in the Securities Deposit Account of the appropriate plan administrator during
the Lock-In Period.
	 
	 	c)	 	The plan participant is not in breach of any applicable plan term.

Article 16

Termination or Change of Employment or Board Membership

During the Lock-In Period of a Plan Tranche

	(1)	 	All entitlement of the plan participant to Matching Shares is extinguished without notice
or liability if the plan participant terminates the employment contract or board appointment
contract and the termination is not occasioned by any act or omission of SAP AG or the
participating Group Company, or if SAP AG or the participating Group Company terminates
without notice for just cause, or with notice for behavior-related reasons, or in connection
with a termination agreement, or if the term of the plan participant’s temporary contract
expires. The Lock-In Period for Investment Shares ends at the end of a plan participant’s
employment contract or board appointment contract.

	(2)	 	If the employment contract or board appointment contract is terminated by SAP AG or the
participating Group Company without just cause, or for operational reasons, or where the plan
participant retires (in accordance with applicable law or, in the absence of applicable law,
in accordance with the rules of the Group Company concerned), or where the plan participant
becomes permanently unable to work or dies, the plan participant’s or the plan participant’s
estate’s entitlement to Matching Shares is unreduced at the expiration of the full Lock-In
Period in article 13 (1) and in such cases the Lock-In Period continues unaltered in respect of 

 

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	 	 	the Investment Shares and applies against the plan participant’s estate if the plan participant has died.

	(3)	 	This is without prejudice to the provisions in article 13 (3). In all other respects the
provisions in article 18 apply.

Article 17

Corporate Restructuring

	(1)	 	The rights of a plan participant in the SMP are not affected by divestiture in a
restructuring action (for example, by sale or otherwise) from the SAP Group of the
participating Group Company or the division, plant, or other unit in the SAP Group for which
the plan participant works under an employment contract or board appointment contract if
immediately after the restructuring action takes effect the plan participant continues to work
for SAP AG or (another) Group Company under an employment contract or board appointment
contract.
	 
	(2)	 	If the plan participant does not continue to work for SAP AG or an(other) Group Company under
an employment contract or board appointment contract after the restructuring action and the
plan participant thus leaves the SAP Group before the end of the Lock-In Period, the plan
participant is entitled only to the reduced number of Matching Shares that stands in
proportion to full entitlement as the actual length of the Lock-In Period up to the time the
restructuring action takes effect stand to the three (3) years of the original Lock-In Period.
If the resultant number of Matching Shares is not an integer, it is rounded up to the next
integer. In all other respects the provisions in article 18 apply mutatis mutandis.

 

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Article 18

End of the Securities Deposit Account Facility

	(1)	 	If a plan participant leaves the SAP Group as a result of a restructuring action or on
termination of the plan participant’s employment contract or board appointment contract in the
circumstances in article 16 (1), the plan
participant must dispose of or if possible transfer from the Securities Deposit Account to a
private securities account all of the SAP Stock managed by the plan administrator within the
period three (3) months after the restructuring action takes effect or, as the case may be,
after the end of the contract. If that is not done, the plan administrator will sell all of
the SAP Stock at market value without delay on behalf of the plan participant or the plan
participant’s successor and transfer the proceeds less costs of sale to the plan
participant’s last known salary account and such transfer is in full and final satisfaction.
If it is not possible to effect the transfer to an account, SAP AG or the remaining Group
Company, as the case may be, will in accordance with the German Civil Code, section 195, hold
the proceeds of sale in trust until the end of the statutory three-year time bar that
commences at the end of the calendar year in which the contract ended and thereafter title
passes to SAP AG or the remaining Group Company, as the case may be.
	 
	(2)	 	If a plan participant leaves the SAP Group in the circumstances in article 16 (2), the
arrangements in section (1) in this article apply with effect from the expiration of the
Lock-In Period. Where the plan participant retires or becomes permanently unable to work or
dies, the period within which the plan participant or the plan participant’s personal
representative or successor in title must dispose of or transfer the SAP Stock is nine (9)
months and not the period provided in section (1) in this article.

	(3)	 	The arrangements in section (1) in this article also apply if SAP AG ends the SMP or ends the
appointment of the plan administrator without 

 

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	 	 	replacement, except that the period in section
(1), sentence 1, is always three (3) months from the time SAP AG gives notice thereof.

Article 19

Satisfaction of Entitlement to Matching Shares

	(1)	 	A plan participant’s entitlement to Matching Shares from SAP AG or participating Group
Companies is satisfied by the transfer by SAP AG or by an agent appointed by SAP AG of the
appropriate quantity of SAP Stock to the plan participant.
	 
	(2)	 	The Matching Shares are transferred by SAP AG or its agent to the plan administrator’s
Securities Deposit Account as soon as possible, that is generally not more than ten (10)
banking days, after the end of the Lock-In Period, and not later than the 90th day
after the end of the Lock-in Period.
	 
	(3)	 	After that transfer the Matching Shares are freely disposable and are not subject to any
Lock-In Period. The plan participant can at any time instruct the plan administrator to
transfer the Investment Shares (after expiration of the Lock-In Period) or the Matching Shares
to the plan participant’s own securities account. If the Investment Shares and Matching Shares
continue to be held in the Securities Deposit Account, the shareholder rights must be
exercised as provided in the German Stock Corporation Act, the Articles of Incorporation of
SAP AG, and the trust agreement annexed to these plan terms.

 

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Article 20

Reservation of Right to Pay Cash

	(1)	 	SAP AG reserves the right to satisfy plan participants’ entitlements to Matching Shares
with a cash payout (in euros or local currency) to the plan participant instead of delivering
SAP Stock.
	 
	(2)	 	The cash payout is calculated on the basis of the closing price of SAP Stock in the XETRA
trading system (or an appropriate successor system) on the Frankfurt Stock Exchange on the
first trading day after expiration of the Lock-In Period and is paid direct to the plan
participant after deduction of applicable taxes and social insurance contributions.

Article 21

Amendments for Events Occurring Between Plan Participants’

Buying Investment Shares and Obtaining Matching Shares

	(1)	 	If during the time between transfer of the Investment Shares and transfer of the Matching
Shares SAP AG increases its issued capital stock by issuing new shares to which shareholders
have preemptive rights or issues convertible bonds or stock options carrying rights to convert
or subscribe to SAP Stock, the SAP AG Executive Board reserves the right at its own discretion
to make a compensating amendment to these plan terms to the effect that as far as possible
each plan participant’s interest immediately after the event is equivalent to that plan
participant’s interest immediately before the event.
	 
	(2)	 	Plan participants do not, however, have any right to a compensating amendment to these plan
terms.

 

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Article 22

Withholding of Taxes and Deductions; Costs

	(1)	 	To the extent permitted by law and subject to any applicable tax adjustment policy, all
taxes, social security contributions, and other
imposts arising in connection with the purchase or issuance of Investment Shares: the
transfer, or the lapse of service conditions on the transfer, of free Matching Shares; any
income or gain attributable to Investment Shares or Matching Shares or the disposal of those
shares are borne exclusively by the plan participants or their successors in title.
	 
	(2)	 	Taxes and contributions payable in connection with participation in the SMP are withheld by
SAP AG or the participating Group Company concerned as the employer in accordance with the
requirements of the law. Amounts to be withheld are deducted from the salary or other amounts
payable to the plan participant. If amounts available to be withheld are insufficient to
settle the outstanding tax and contribution liability or if for other reasons sufficient funds
can no longer be withheld (for example, if the plan participant has already left), the plan
participant or the plan participant’s estate must settle the liability with SAP AG or the
participating Group Companies by other means. The plan participant or the plan participant’s
estate may elect to settle any tax and contribution liability arising at the expiration of the
Lock-In Period with the proceeds of an immediate sale of some or all of the Matching Shares.
In the latter case, any proceeds of sale exceeding the amount needed to settle the outstanding
tax and contribution liability will be transferred with any remaining Matching Shares to the
plan participant or the plan participant’s estate.

	(3)	 	All costs arising in connection with acquiring Investment Shares and Matching Shares,
transferring them to plan participants, their administration in the Securities Deposit Account
for the SMP, and the 

 

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	 	 	general management of the SMP are borne by SAP AG or by the participating
Group Companies for their respective plan participants. The foregoing provision also applies
if there is a change of plan administrator, but it does not apply to costs and fees in
connection with selling or transferring plan participants’ SAP Stock held in the plan
administrator’s Securities Deposit Account.

Article 23

Information for Plan Participants; Risks

	(1)	 	Each plan participant receives from the plan administrator an annual statement of shares
held in the SMP and a statement of each transaction with SAP Stock. (Annual statements and
transaction statements are generally provided on the Internet platform.) Plan participants
without access to the Internet platform receive them by mail. To facilitate correspondence by
mail, the plan participant undertakes to notify SAP AG or the plan participant’s participating
Group Company, as the case may be, and the plan administrator, of all changes of the plan
participant’s address and bank details.
	 
	(2)	 	The purchase of Investment Shares in the SMP does not give rise to any right on the part of
the plan participate to the making or continuation of an employment contract or board
appointment contract and does not in any way prejudice any right of the plan participant, of
SAP AG, or of a Group Company to end any employment contract or board appointment contract in
accordance with the contract or the law.
	 
	(3)	 	The plan participant acknowledges that the purchase of stock carries risks including but not
limited to the risk that the value of the stock may decline and the associated risk that some
or all of the capital invested by the plan participant may be lost.

 

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Article 24

Miscellaneous Provisions

	(1)	 	If any provision in these plan terms is or becomes ineffective or unenforceable in whole
or in part the other provisions remain unaffected. Where there is a lacuna by reason of the
ineffectiveness or unenforceability of a provision in these plan terms an appropriate
additional provision reflecting the interests of the parties is implied.
	 
	(2)	 	The SAP AG Executive Board reserves the right to amend these plan terms at any time. However,
no amendment to the plan terms affects any right or duty of the plan participant that was
effective before the amendment unless the plan participant agrees to the amendment or the
amendment is necessary to comply with the law.
	 
	(3)	 	The proper law applying to the SMP and all related terms and agreements is German law subject
to the exclusion of the rules of private international law.
	 
	(4)	 	The proper place of jurisdiction is the competent German court.
	 
	(5)	 	The plan terms are in the German language. Any version in any other language is only a
translation. Only the German applies if there is any question of construction or any
difference between the German and a translation.

US-Addendum

	 	 	In accordance with article 2 (3) of the SAP Share Matching Plan, notwithstanding the
conditions of the above Terms of the Plan the following country-specific US-conditions
(“US-Addendum”) are applicable

 

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	 	 	to plan participants who may be subject to US tax and replace the respective articles to the
extent provided below. It is intended that this US-Addendum shall apply whenever the above
Terms of the Plan would otherwise result in the inclusion in the gross income of any
participant under section 409A(a)(1)(A)(i) of the United States Internal Revenue Code of any
amount because of a failure of the above Terms to satisfy the requirements referred to in
that clause, determined as if the participant’s benefits were fully vested. Without limiting
the generality of the foregoing, this US-Addendum shall apply (beginning on the earliest
applicable date) as follows:

	 	a)	 	beginning on any Resolution Date, with respect to any plan participant: (i) who
is a US citizen or permanent resident on any Resolution Date; (ii) who was a US resident
alien in any of the three consecutive taxable years immediately preceding the taxable
year in which the respective Resolution Date occurs, unless SAP AG or the Group Company
determines, in its sole discretion, that such participant is unlikely to be a US citizen
or resident in the taxable year in which the respective Resolution Date occurs; or (iii)
who is currently performing services for SAP AG or any Group Company within the US,
unless SAP AG or the Group Company determines, in its sole discretion, that such
participant is unlikely to be taxed in the US on any compensation for services performed
in the US during the Lock-In Period;
	 
	 	b)	 	beginning on the last day of the plan participant’s first taxable year (ending
after any Resolution Date) in which the participant is a US resident alien; or
	 
	 	c)	 	beginning on the first day (after any Resolution Date) on which the plan
participant performs services for SAP AG or any Group Company within the US, unless SAP
AG or the Group Company determines, in its sole discretion, that such participant is
unlikely to

 

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	 	 	 	be taxed in the US on any compensation for services performed in the US during the
Lock-In Period.

	 	 	Any determination made by SAP AG or the Group Company under the this US-Addendum shall be
reflected in writing not later than the date on which the US-Addendum would otherwise become
applicable. For the avoidance of doubt, unless SAP AG or the Group Company making an Offer
and the affected plan participant otherwise agree in writing, the US-Addendum shall apply
under the particular circumstances listed without regard to whether it would apply under the
general rule stated above.
	 
	 	 	It is intended that a plan participant’s right to Investment Shares, or any income or gain
attributable thereto, shall not constitute a deferral of compensation within the meaning of
section 409A of the United States Internal Revenue Code.
	 
	 	 	Application of Short-Term Deferral Exception to Matching Shares

	 	a)	 	Calculation of Matching Shares Upon Termination of Participation Before the
End of the Lock-in Period. Notwithstanding any other provision of the Plan to the
contrary, in the event a plan participant terminates employment with SAP AG or any other
Group Company for the reasons set forth in Articles 16.2 and 17 or his or her Matching
Shares become fully vested and no longer subject to a substantial risk of forfeiture
before the end of the Lock-in period and would have otherwise been entitled to a
distribution if he or she had remained a participant in the plan until the end of the
Lock-in period, then the plan participant shall be entitled to a proportional amount of
Matching Shares as calculated in this paragraph. The proportional amount shall be
calculated by multiplying the applicable amount of Matching Shares by the period of the
plan participant’s employment during the Lock-in period over the total three (3) year
Lock-in period. If the resulting number of Matching Shares is not a whole number, it
shall be rounded up to the next whole number.

 

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	 	b)	 	Timing of Distributions. Notwithstanding any other provision of this SMP to the
contrary, to the extent that Matching Shares or any other benefit under this SMP are deemed to
constitute a deferral of compensation within the meaning of section 409A of the United States
Internal Revenue Code, including (but not limited to) the provisions of Articles 13, 14, 15,
16, 17, 18, 19 and 20 of the SMP, all Matching Shares to which the participant is entitled
pursuant to any Article of this SMP (as modified by this US-Addendum, as applicable) shall be
transferred to the plan participant as soon as possible, but in no event later than the
fifteenth (15th) day of the third (3rd) month following the end of the
plan participant’s first taxable year in which the right to the Matching Shares is fully
vested and no longer subject to a substantial risk of forfeiture. The payment of Matching
Shares pursuant this US-Addendum shall comply with the short-term deferral rules under
Treasury Regulations section 1.409A-1(b)(4).

 

Trust and Custody Agreement

[version attached as a schedule to the Plan]

Between [person eligible to participate in the Plan]

- hereinafter the “Trustor” -

and

UBS Deutschland AG, Bockenheimer Landstr. 2-4, 60306 Frankfurt am Main, Germany
- hereinafter the “Trustee” —

the Trustor and the Trustee hereinafter together the “Parties”

Capitalized terms used in this Trust and Custody Agreement (“Agreement”) and not defined herein
shall have the meanings ascribed to them in the “SAP Share Matching Plan” of SAP AG, Walldorf
(“Company”), as approved by resolution of the Company’s Management Board dated August 20, 2010
(“Plan”).

Preamble

The Company or, as the case may be, a Group Company (the Company and all Group Companies
collectively: “Group”), offers to the Trustor to purchase Investment Shares and to receive Matching
Shares under the Plan.

The Trustee has been commissioned by the Company, acting on behalf of the Company and all Group
Companies, with the task of administering the Plan as well as any Shares acquired or received by
the Trustor within the context of the Plan and held in the Custody Account, as determined below.

To this end, the Parties establish a trust and custody relationship in order to authorize and
regulate the exercise by the Trustee of the ownership rights and certain shareholders’ rights, and
to regulate the Parties’ respective rights and obligations, in respect of Shares acquired or
received under the Plan by the Trustor as follows:

	1.	 	Conclusion of the Agreement

	1.1	 	This Agreement shall be validly concluded when the Trustor submits — via EquatePlus or via
the call center operated by or on behalf of the Trustee — for the first time the notice of
acceptance for the acquisition of Investment Shares during the Offer Validity Period of the
applicable Tranche in accordance with the terms and conditions of the Plan.
	 
	1.2	 	Notwithstanding Section 1.1 above, however, the Agreement shall not enter into effect, if the
Trustee is prevented from entering into the Agreement by law (e.g. relating to
anti-money-laundering or terror-financing).
	 
	1.3	 	Generally, purchase or sales orders shall be submitted to the Trustee electronically, i.e.
via EquatePlus (as defined below). Purchase or sales orders may also be submitted orally by
using the call center operated by or on behalf of the Trustee. However, on a case-by-case
basis, the Company or a Group Company may also arrange for the submission of purchase or sales
orders in writing.
	 
	1.4	 	The Trustor acknowledges to have received, prior to the conclusion of this Agreement, the
Important Information for Plan Participants on Banking Business by way of Distance Contracts
with the Trustee in text form, as required by § 312 c and § 312 e of the German Civil Code.

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	2.	 	Establishment of the Trusteeship / Authorization of the Trustee

	2.1	 	The Trustor hereby authorizes the Trustee to keep in custody the Shares he/she purchased or
has been granted under the Plan, subject to delivery of such Shares to the Trustee. Therefore,
the Trustor hereby authorizes and instructs the Trustee to open a custody account in the
Trustee’s own name (“Custody Account”) and to hold all Shares purchased or received now or in
the future by the Trustor under the Plan for custody therein, together with the Shares
purchased or received now or in the future by other persons eligible to participate in the
Plan and kept in custody by the Trustee acting as trustee of such other persons. Shares of the
Trustor held in the Custody Account are referred hereinafter as “Trust Shares” (irrespective
of whether deemed Investment or Matching Shares under the Plan). The Trustor remains the legal
owner of his/her respective Trust Shares and this Agreement and, in particular, the
authorizations granted to the Trustee hereunder, shall by no means adversely affect the
Trustor’s title to such Trust Shares. In addition, the Trustee will set up a trust deposit
clearing account for purposes of administering payments in connection with the Shares and/or
the Plan, in particular purchase prices received from sales of the Trust Shares and of Shares
purchased or received now or in the future by other persons eligible to participate in the
Plan (“Trust Deposit Clearing Account”).
	 
	2.2	 	As soon as reasonably practicable after each delivery of Shares purchased or received under
the Plan to the Custody Account, the Trustee shall inform the Trustor via EquatePlus about
both the number of Trust Shares credited to the Custody Account in favor of the Trustor in
connection with the current transfer and the aggregate number of Trust Shares held in the
Custody Account in favor of the Trustor.
	 
	2.3	 	The Trustor undertakes to make any declarations and to perform any measures required for the
custody of the Trust Shares.
	 
	2.4	 	The Trustor hereby authorizes (ermächtigt) the Trustee pursuant to Section 185 of the German
Civil Code (Bürgerliches Gesetzbuch — BGB) and instructs the Trustee

	 	(i)	 	to act on behalf of the Trustor regarding the transfer of title (Übereignung) of
the Trust Shares,
	 
	 	(ii)	 	to exercise on a fiduciary basis all shareholders’ rights with respect to the
Trust Shares (that is to exercise and dispose of Trustors’ shareholder rights including
their transfer) — except, however, for the entitlement to participate in and to
exercise the voting rights arising from the Trust Shares in the Company’s annual and
extraordinary shareholders’ meetings

	 	 	(Ermächtigungstreuhand, trust based on authorization).

	 	 	The Trustee accepts the trust and custody assignment as well as the authorization.

	2.5	 	For the avoidance of doubt, it is clarified that the Trustor at all times remains the legal
owner of the Trust Shares and that this Agreement, for purposes of US tax and Japanese law,
does not constitute a “trust”, but a custodial arrangement by which the Trustee acts as
custodian of the Trust Shares while the legal ownership of the Trust Shares remains with the
Trustor at all times.

	3.	 	No Representation in Shareholders’ Meetings by Trustee

The authorization of the Trustee by the Trustor does not include the participation and exercise of
voting rights arising from the Trust Shares in the Company’s annual or extraordinary shareholders’
meetings. It is accordingly upon the Trustor to exercise such rights independently.

	4.	 	Content of the Trusteeship

	4.1	 	The Trustee undertakes to keep in custody the Trust Shares on behalf of the Trustor and to
exercise the legal power transferred to it by the Trustor on a fiduciary basis in its own
name, but for the benefit of the Trustor.

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	4.2	 	The Trustee shall also collect all sums of money in connection with the Trust Shares (e.g.
dividends) in his capacity of Trustee in connection with the Trust Shares and shall credit any
sums received in respect to the Trust Shares or resulting from sale of rights attached
thereto, e.g. proceeds from the sale of subscription rights, to the Trust Deposit Clearing
Account, for further remittance to the Trustor’s personal bank account, subject to the
conditions set forth in the Plan and this Agreement. For the avoidance of doubt, the Trustee
credits and remits the sums of money collected in connection with the Trust Shares and the
Shares purchased or received now or in the future by other persons eligible to participate in
the Plan, acting in its capacity as trustee of the Trustor and such other persons eligible to
participate in the Plan. The Trustor shall inform the Trustee about the details of his
personal bank account by entering and, whenever necessary, updating the respective information
in EquatePlus.
	 
	4.3	 	Subject to the Lock-In period, the Trust Shares held in the Custody Account in general are
freely transferable and the Trustor may instruct the Trustee at any time to execute a transfer
or sale. A transfer or sale of Investment Shares prior to the expiration of their respective
Lock-In Period is generally not permitted under the Plan terms and the Trustee will not
execute transfers or sales which would be in violation of the Lock-In Period, unless such
transfers or sales are expressly permitted under the Plan. Transfer requests and sell orders
may be made using EquatePlus or the call center operated by or on behalf of the Trustee.
Subject to the Lock-In Period, the respective Trust Shares will be transferred or sold by the
Trustee upon such request.
	 
	4.4	 	For the avoidance of doubt, the Trustee will effect transfers of any Shares and any cash
amount only in accordance with applicable laws. The Trustor shall, in all respects in
connection with this Agreement and the Plan, ensure that he/she always complies with his/her
personal obligations arising under the respective local laws applicable to the Trustor.
	 
	5.	 	Obligations of the Trustee
	 
	5.1	 	The Trustee undertakes to refrain from any disposal and/or encumbrance (e.g.
transfer/assignment, pledging, granting of usufruct, etc.) in respect of the Trust Shares
without the prior consent of, or instruction from, the Trustor. The Trustee’s rights and
claims under this Agreement (including the supplementary provisions referred to in Sec. 15.5)
remain unaffected.
	 
	5.2	 	With respect to the administration of the Custody Account and the exercise of the legal power
transferred to the Trustee, the Trustee shall act in accordance with the Special Conditions
for Dealings in Securities and the Trustee’s Order Execution Policy, as attached to this
Agreement.
	 
	5.3	 	The Trustee is not obligated to verify the compliance of the Trustor’s instructions with the
provisions of the Plan (except for the Lock-In Period of the Investment Shares).
	 
	5.4	 	Subject to Section 7 and applicable tax regulations such as on tax withholdings and
deductions, the Trustee undertakes to remit or pay to the Trustor any amount it receives as a
result of the business activity relating to the Trust Shares (e.g. dividends, profits, any
other remuneration including any proceeds from liquidation).
	 
	5.5	 	The Trustee shall provide the Trustor with the transaction confirmation without undue delay
after each transaction relating to the Trust Shares. Transaction confirmations as well as
annual account statements may be made available via EquatePlus.
	 
	5.6	 	The Trustee may, at its own discretion, call on the services of third parties (whether or not
affiliated with the Trustee) in fulfillment of its duties, or transfer these duties to third
parties, provided that it has first ensured that such third parties will observe an adequate
level of confidentiality and data protection.
	 
	5.7	 	The Trustor acknowledges that the Trustee does not render advice on legal, tax or investment
matters, and the Trustor has to obtain any such advice independently.

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	6.	 	Trading Rules Applying to the Sale of Trust Shares

The Trustee will execute the Trustor’s orders regarding the transfer or sale of Trust Shares in
accordance with the first-in-first-out principle. This means that upon execution of a transfer
and/or sales order placed by the Trustor those Trust Shares will be sold and cleared from the
Custody Account that the Trustor acquired first. The Trustor acknowledges that the application of
the first-in-first-out principle means that those Trust Shares will be transferred or sold first
which, at the time the Trustor’s transfer and/or sales order is executed, will have been purchased
in the context of the oldest Plan Tranche and which, consequently, will have been deposited in the
Custody Account for the longest time.

To the extent not set forth otherwise in this Agreement, the Special Conditions for Dealings in
Securities and the Trustee’s Order Execution Policy shall apply (see also Sec. 15.5).

	7.	 	Remuneration, Refund of Expenses

	7.1	 	The Trustee shall be entitled to fees, charges, reimbursement of costs and expenses from the
Trustor as set forth in this Agreement.
	 
	7.2	 	The Trustor shall bear all costs and expenses (e.g., stock exchange fees, broker’s fees,
commissions) deriving from the sale of his/her Trust Shares held in the Custody Account (plus
statutory value added tax, if applicable). Additionally, any share sale shall be charged with
a fee of 0.3% of the transaction volume, i.e. the total purchase price for all shares sold in
one single transaction, (plus statutory value added tax, if applicable), the minimum fee being
EUR 20.00 (plus statutory value added tax, if applicable). If transaction proceeds are lower
than EUR 20.00, only 0.3% of the transaction volume will be charged (plus statutory value
added tax, if applicable). The fees, costs and expenses will be deducted from the proceeds of
the sale prior to remittance of the cash amounts to the Trustor. The Trustee will not charge a
fee for the transfer of Trust Shares to the Trustor’s personal depository account.
	 
	7.3	 	In addition, the Trustee shall be entitled to refund of any expenses (plus statutory value
added tax, if applicable) which are incurred by the Trustee due to its proper fulfillment of
this Agreement and due to individual instructions, if any, made by the Trustor, to the extent
such instructions are not already covered by the functionalities of EquatePlus.
	 
	7.4	 	The Company’s obligations to pay remuneration and reimbursement of cost and expenses of the
Trustee in relation to its services in connection with the Plan, as set forth in separate
agreement between the Trustee and the Company, remain unaffected.
	 
	8.	 	Communication / Use of the “EquatePlus” Online Administration System
	 
	8.1	 	For the purposes of communication with the Trustee, the Trustee will make available to the
Trustor an Internet web page set up on request of the Company with the Trustee’s online
administration system “EquatePlus” (“EquatePlus”) in order to administer the Trust Shares in
accordance with the following terms of this Section 8, and shall grant the Trustor the
corresponding entry and access rights.
	 
	8.2	 	By first notice of acceptance via EquatePlus or via the call center operated by or on behalf
of the Trustee, the Trustor agrees to communication in electronic form between the Trustee and
the Trustor.
	 
	8.3	 	The Trustee can, within its reasonable discretion, change the functionalities or the content
of the web page with EquatePlus at any time, or regulate or restrict the use of or access to
such web page or individual functions thereof, as appropriate and necessary, provided that the
Trustor at all times has an appropriate venue for submitting information and/or exercising
his/her rights in compliance with this Agreement. If the Trustor acts in breach of such
regulations or the regulations under this Agreement, the Trustee may exclude him/her
temporarily or permanently from the use of the web page.
	 
	8.4	 	The Trustor is responsible for preventing and excluding any unauthorized use of his/her user
identification and his/her password for the call center and the web page. If the Trustor

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	 	 	becomes aware of any unauthorized use of his/her user identification and of his/her
password, he/she must inform the Trustee accordingly, without delay.

	8.5	 	The Trustee is not responsible for errors or damages which might arise from the use of e-mail
for communication or from an unauthorized use of the Trustor’s user identification and
password in breach of the provisions of this Agreement. All information provided to the
Trustee in connection with use of the web page shall be recorded and stored, and kept
available for checking by the Trustee’s management, auditors and by the regulatory
authorities, in accordance with applicable statutory law.
	 
	8.6	 	The web page shall contain specific electronic functionalities designed to submit
instructions, requests, authorizations, or personal details to the Trustee. This information
may also be passed on through the call center provided. The transmission of instructions,
requests or authorizations relating to the rights of the Trustor in accordance with the Plan
and to the Trust Shares and the transmission of personal credit details (including credit card
numbers), changes of address, communication in confirmation of a change of user identification
and password or other time-sensitive instructions must not be sent to the Trustee via
e-mail. The Trustee is not responsible for damage, destruction, loss, truncation
or distortion of data in transmission, nor for the security of data transmitted by means of
public telecommunications facilities.
	 
	8.7	 	The web page will generally be accessible through the Internet by means of publicly available
web browsers and software. The Trustee does not warrant, and is not responsible, that the web
page will be available at all times. During any planned or unplanned downtimes, the Trustor
shall revert to the call center. The Trustee is not responsible for the installation, use,
maintenance and functionality of software on the part of the Trustor.
	 
	8.8	 	Such web page does not represent any offer for the purchase or sale of securities and must
not be regarded as providing advice in legal, tax or investment matters. The Trustee does not
guarantee that any materials published on such web page by third parties are accurate,
complete and up-to-date and shall not be liable for opinions and recommendations published on
such web page by third parties.
	 
	8.9	 	The Trustor acknowledges that the information available from or through the EquatePlus web
page does not represent the official record of the Trustor’s entitlements under the Plan, and
that it may be subject to mistakes, misunderstandings and errors. Solely the written
documentation of the Company constitutes the official record of the Trustor’s entitlements
under the Plan. The Trustor acknowledges that the Trustee produces no written
confirmations of aborted or recalled orders. The web page does not replace the other
information obtained by the Trustor from the Company or the Trustee, and cannot be used for
tax declaration purposes, in particular.
	 
	8.10	 	The information on the web page, including text, graphic presentation, illustrations and
audio and video clips, may be protected by copyrights, proprietary rights, trademarks and/or
other intellectual property rights. UBS AG, Switzerland, is the sole owner of these rights or
holder of exclusive rights of use. The information contained therein may be used or printed
for personal use only. The materials provided on such web page may not be used without the
prior written consent of the holder of the copyright or any other protected right.
	 
	8.11	 	If such web page contains links to other web pages containing information on other companies,
organizations or persons, the Trustor acknowledges that these other web pages cannot be
influenced by the Trustee. Accordingly, the Trustee is not responsible for the information or
links to be found on such pages and such information shall not be regarded as content provided
by the Trustee. The Trustee provides such links only as a service and has not tested or
checked the software or information to be found on such web pages. The fact that the Trustee
provides a link to another web page does not mean that the Trustee has access to such pages,
their content or to the participants in this other web page. Third parties not associated with
the Trustee may make the links to these other web pages

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	 	 	available. The Trustor acknowledges that the use of software or information from
the Internet is associated with a general risk.

	8.12	 	The Trustor acknowledges that e-mails transmitted via open installations (such as public and
private data transfer networks and providers that are accessible worldwide) may be accessed by
anyone. It is impossible to control the transmission route of e-mails, which are often routed
through more than one country (even when the sender and recipient are located in the same
country). A multitude of risks are inherent in unsecured e-mails, for example:

	 	–	 	lack of confidentiality: e-mails and their attachments can be viewed without
restriction and systematically monitored by unauthorized third parties, including
authorities, with relatively little effort;
	 
	 	–	 	possibility to manipulate content and/or fake sender: the content of e-mails, any
attachments and sender details (e-mail address) can be tampered with or falsified and
their transmission can be delayed or prevented;
	 
	 	–	 	transmission errors/failures: e-mails may be altered, mutilated, misrouted, delayed
or deleted due to technical failures or malfunction during transmission;
	 
	 	–	 	lack of integrity of sender: there is no way for a recipient to technically verify
the integrity of an e-mail’s sender and content (manipulations and errors are not usually
discovered in time);
	 
	 	–	 	viruses, Trojan horses, worms, spam, etc: considerable damage can be done to the
e-mail addressee and e-mails from the Trustee can be faked as a result of such e-mail or
computer ‘infections’ created, unnoticed, by third parties.

	 	 	The Trustor accepts that the Trustee is not responsible for any losses arising from such
risks.

	9.	 	Personal Data Notification and Consent
	 
	 	 	The Trustor acknowledges that the Trustee will collect, process and use personal data
collected or submitted in connection with this Agreement for the execution and consummation
of this Agreement and also for compliance with statutory documentation and document retention
purposes. The Trustor acknowledges that the Trustee may transfer such data to the Company,
third party service providers pursuant to Section 5.6, other banks, or to the counterparty of
any transaction in connection with this Agreement to the extent required for the consummation
of this Agreement. The Trustor further acknowledges that the Trustee will provide the Company
with the information necessary to monitor the Trustor’s compliance with the Plan terms, to
assess the Trustor’s rights and obligations under the Plan and to comply with applicable law.
	 
	 	 	The Trustor acknowledges that the Trustee has called on the services of, or may in the future
call on the services of UBS AG, Switzerland, for purposes of fulfilling the Trustee’s
obligations under this Agreement, including the storage of personal data. Switzerland is not
a member state of the European Economic Area. However, the EC Commission has decided on 26
July 2000 (2000/518/EC) that Switzerland provides an adequate protection of personal data as
defined in EC Directive 95/46/EC on the protection of personal data.
	 
	 	 	The Trustor hereby expressly consents that the Trustee may transfer personal data to UBS AG
to the extent required for any services called upon by the Trustee in connection with this
Agreement which are provided by UBS AG.
	 
	 	 	Trustor acknowledges that he/she has the right to revoke this consent with respect to his/her
personal data described above. Such revocation will not prevent the Trustee from any
collection, processing and/or use which does not require such consent under applicable
statutory law. To the extent that such revocation prevents Trustee from properly consummating
this Agreement, in particular from retaining third party service providers pursuant to
Section 5.6, it may terminate this Agreement for cause without observing any

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	 	 	notice period. The Trustor is aware that such termination will cause the Trustor to end
his/her participation in the Plan and to forfeit his/her rights to receive Matching Shares.

	10.	 	Taxes and Levies
	 
	 	 	The Trustor is debtor of, and responsible for, all taxes and social security levies arising
in connection with the Trust Shares and the amount attributable to the Trustor in the Trust
Deposit Clearing Account. Payments made by the Trustee to the Trustor are subject to Section
7 and applicable tax regulations such as on tax withholdings and deductions. The Trustor is
responsible for passing on to the Trustee the correct data required for the calculation and
payment of taxes and levies due from the Trustor. The Trustee can not accept exemption orders
(Freistellungsaufträge) of the Trustor and non-assessment notes. The Trustee does not render
tax advice to the Trustor, and the Trustor has to obtain any such advice independently.
Applicable statutory obligations of the Trustee to issue annual tax confirmations remain
unaffected.
	 
	11.	 	Indemnification/Liability
	 
	11.1	 	At the request of the Trustee, the Trustor shall entirely indemnify the Trustee in connection
with all obligations arising from the fiduciary exercise of shareholders’ rights under the
Trust Shares or transfer of title of the Trust Shares by the Trustee in accordance with this
Agreement, however not to the extent the Trustee has acted contrary to the instructions made
by the Trustor in compliance with this Agreement. If the Trustee has already fulfilled any
such obligation, then it may demand refund from the Trustor.
	 
	11.2	 	This indemnification also applies to any taxes and levies of any kind to be paid by the
Trustee in connection with the Trust Shares and the amount attributable to the Trustor in the
Trust Deposit Clearing Account.
	 
	11.3	 	The Trustor is aware that certain of the Trustee’s services are provided in the form of
electronic communication and that the Trustee provides neither warranty nor guarantee (1) that
these services will be provided without interruption and/or fault, (2) for the results arising
out of the use of these services, and (3) for the execution in good time, accurateness,
completeness or content of information or of transactions being provided by means of these
services or in connection with the use of software by the Trustor.
	 
	11.4	 	Where it is not possible for one party to fulfill any contractual obligation due to reasons
of force majeure, this failure to fulfill does not represent a breach of contract as long as
the case of force majeure persists and the relevant party applies all necessary and reasonable
efforts, including the application of alternative resources, to fulfill its contractual
obligation to the greatest reasonable possible extent. The party hindered in fulfillment of
its contractual obligations by an instance of force majeure must inform the other party
accordingly, without delay, describing the instance of force majeure in detail.
	 
	11.5	 	Trustee shall be liable in damages in connection with this Agreement, whether based on
contract or any other legal theory, only to the extent that the damage was caused by gross
negligence or willful misconduct imputable to Trustee. In the event of death of a natural
person or personal injury to the latter, Trustee shall be liable also for slight negligence
(einfache Fahrlässigkeit) in accordance with statutory law. In addition, Trustee shall also be
liable in accordance with statutory law for a slightly negligent violation of a fundamental
duty under this Agreement, but such liability shall be limited to such damage as Trustee could
have reasonably foreseen at the time of signing of the Agreement. Fundamental duties as used
herein comprise all duties which must be fulfilled by Trustee in order to enable consummation
of this Agreement and the achievement of its purposes and fulfillment of which the Trustor may
reasonably expect in view of the content and purposes of the Agreement. Trustee’s liability
shall not cover any damage caused by the loss of data to the extent the Trustor could have
avoided such loss by daily, alternating back-up. Limitations on Trustee’s liability agreed in
this Agreement shall apply also to the personal liability of

Confidential

7

 

	 	 	Trustee’s officers, employees, subcontractors or agents (Erfüllungs- oder
Verrichtungsgehilfen). Any mandatory liability under the German Product Liability Act
(Produkthaftungsgesetz) and/or arising from a guarantee of properties
(Beschaffenheitsgarantie) shall remain unaffected.

	12.	 	Clarification of Risk
	 
	 	 	The Trustor confirms that he/she is aware of the risks associated with securities services
and ancillary securities services and of the risk to lose the invested capital in part or in
total.
	 
	13.	 	No Transfer of Rights
	 
	 	 	The Trustor may not transfer to any third party any individual, or all, claims and rights
arising from this Agreement without the prior written approval of the Trustee.
	 
	14.	 	Termination of Contractual Relationships
	 
	14.1	 	As long as the Trust Shares are subject to a Lock-In Period in whole or in part, this
Agreement may be terminated only for good cause (wichtiger Grund). If no Trust Shares are
subject to a Lock-In Period anymore, each the Trustor and the Trustee may properly terminate
this Agreement with one month’s written notice to the end of a month. The Trustee’s right to
termination pursuant to sentence 11 of Section 9 in the case of the Trustor’s revocation of
consent for use of personal data remains unaffected. The Trustor is aware that a termination
of the Agreement as per sentence 1 or a termination of this Agreement by the Trustee pursuant
to sentence 11 of Section 9 in the case of the Trustor’s revocation of his/her consent with
respect to his/her personal data will cause the Trustor to end his/her participation in the
Plan and to forfeit his/her rights to receive Matching Shares.
	 
	14.2	 	In any case this Agreement automatically ends without further notice with the termination of
the agreement between the Company and the Trustee with respect to the administration of the
Plan.
	 
	14.3	 	In the event of termination of this Agreement due to the termination of the agreement between
the Company and the Trustee with respect to the administration of the Plan (Sec. 14.2), the
Trustee shall transfer the Trust Shares and any portion of the Trust Deposit Clearing Account
attributable to the Trustor, less the fees, costs and expenses provided for by this Agreement,
to the collective custody account of a newly appointed service provider as notified to the
Trustee by the Company on behalf of the Trustor.
	 
	14.4	 	Without prejudice to the reasons for termination set forth in Sec. 14.1 and Sec. 14.2, this
Agreement shall also terminate automatically without further notice in the event that the
Trustor leaves the Group, such automatic termination having effect (i) in the case of the
Trustor’s retirement, permanent incapacity or death as of 9 months after the end of the
Lock-In Period or (ii) as of 3 months after the date of the Trustor’s other departure from the
Group, as addressed in Article 18 of the Plan. If the Company terminates the Plan or
discontinues to retain a service provider as Plan administrator at all, this Agreement shall
also terminate automatically without further notice, such automatic termination having effect
three months after the announcement of the measure, as addressed in Article 18 of the Plan,
without prejudice to the reasons for termination set forth in Sec. 14.1 and Sec. 14.2.
	 
	14.5	 	The Trustor is aware that he/she is obligated to implement a sale of the Trust Shares or a
transfer of the Trust Shares to his/her personal depository account if he/she leaves the Group
or in case of termination of the Plan or discontinuation of the Plan administration, as set
forth in Article 18 of the Plan. If the Trustor does not implement a sale of the Trust Shares
or a transfer of the Trust Shares to his/her personal depository account within the deadlines
set forth in Article 18 of the Plan, the Trustee may sell all Trust Shares and transfer the
sales proceeds and any portion of the Trust Deposit Clearing Account attributable to the
Trustor, less the fees, costs and expenses provided for by this Agreement, to the Trustor’s
salary account (as most recently known) or, if such is not possible, to an

Confidential

8

 

	 	 	account designated by the Company for custody by the Company as set forth in Article 18 of
the Plan.

	14.6	 	In the event of any termination of this Agreement which is not addressed in Sections 14.2
through 14.5, in particular in an event of termination mentioned in Section 14.1, the Trustor
shall notify the Trustee of his/her personal account(s) to which the Trust Shares and any
portion of the Trust Deposit Clearing Account attributable to the Trustor, less the fees,
costs and expenses provided for by this Agreement, shall be transferred. The Trustee shall
effect such transfer without delay after receipt of this information, subject to the
conditions set forth in this Agreement and the Plan. In the event that the Trustor does not
inform the Trustee of his/her account details within two months of the termination, the
Trustee shall be entitled to sell the respective Trust Shares and transfer the sales proceeds
and any portion of the Trust Deposit Clearing Account attributable to the Trustor, less the
fees, costs and expenses provided for by this Agreement, to the Trustor’s salary account (as
most recently known) or, if such is not possible, to an account designated by the Company for
custody by the Company corresponding with Article 18 of the Plan.
	 
	15.	 	Miscellaneous
	 
	15.1	 	The Trustor shall inform the Trustee of any changes in his/her personal data via EquatePlus
or via the call center without undue delay.
	 
	15.2	 	Any changes and/or additions to this Agreement, including to this Section, must be in text
form to be effective.
	 
	15.3	 	This Agreement is subject to the laws of the Federal Republic of Germany exclusively, without
giving regard to its rules on conflicts of law. The exclusive place of jurisdiction for all
disputes arising out of or in connection with this Agreement is Frankfurt am Main, Germany.
	 
	15.4	 	If any provision of this Agreement should be or become ineffective, in part or in full, this
does not result in the other provisions being ineffective. The Parties agree to replace the
ineffective provision with an effective provision that as closely as possible achieves the
sense and purpose — particularly from an economic point of view — of the ineffective
provision, or what would have been agreed if the ineffectiveness of the provision had been
realized at the time of drafting. The same applies should this Agreement be found to contain
any gap.
	 
	15.5	 	The attached Trustee’s Order Execution Policy, the Special Conditions for Dealings in
Securities and the Trustee’s General Business Conditions apply as supplementary provisions. In
case of a conflict, the provisions of this Agreement shall prevail. The Trustor has taken
notice of the Principles for the Protection of Clients’ Interests, the General Information for
Clients, and the Important Information for Plan Participants on Banking Business by way of
Distance Contracts with the Trustee.

Confidential

9exv4w01

Exhibit 4.01

GREEN DOT CORPORATION

NINTH AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT

     This Ninth Amended and Restated Registration Rights Agreement (this “Agreement”) is entered
into as of May 27, 2010 by and among Green Dot Corporation, a Delaware corporation (the “Company”)
and the holders of the Company’s Preferred Stock listed on Schedule 1 hereto.

     A. The Company and the holders of its Series A Preferred Stock, Series B Preferred Stock,
Series C Preferred Stock, Series C-l Preferred Stock and Series C-2 Preferred Stock have previously
entered into that certain Eighth Amended and Restated Registration Rights Agreement dated as of
March 31, 2010, as amended (the “Prior Agreement”).

     B. Wal-Mart Stores, Inc. (“Walmart”) is a party to that certain Class A Common Stock Issuance
Agreement of even date herewith (the “Issuance Agreement”) whereby the Company has issued to
Walmart shares of the Company’s “Class A Common Stock” (as defined hereunder).

     C. In connection with the issuance of Class A Common Stock under the Issuance Agreement, the
undersigned parties to the Prior Agreement desire to amend and restate the Prior Agreement as set
forth herein to add Walmart as a “Holder” (as defined hereunder) party to this Agreement.

     D. Section 5 of the Prior Agreement provides that the Prior Agreement may be amended as
contemplated hereby with the written consent of (i) the Company and (ii) the holders of not less
than 67% of the Registrable Shares (as such term is defined in the Prior Agreement) outstanding.
Accordingly, this Agreement amends and restates the Prior Agreement in its entirety, and is binding
upon the Company and each Holder, notwithstanding the failure of any Holder to execute this
Agreement.

     NOW, THEREFORE, in consideration of the mutual agreements and covenants contained herein, and
for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto hereby agree as follows:

     1. Definitions. As used herein:

          1.1 The term “Affiliate” means, with respect to any specified person, any other person who,
directly or indirectly, controls, is controlled by, or is under common control with such person,
including without limitation any general partner, managing member,
officer or director of
such person or any venture capital fund now or hereafter existing that is controlled by one or more
general partners or managing members of, or shares the same management company with, such person.

          1.2 The term “Class A Common Stock” means shares of the Company’s Class A Common Stock.

          1.3 The term “Class B Common Stock” means shares of the Company’s Class B Common Stock.

 

 

          1.4 The term “Holder” means any person owning or having the right to acquire Registrable
Shares or any assignee thereof in accordance with Section 2.10 hereof.

          1.5 The term “Preferred Stock” means shares of the Company’s Series A Preferred Stock, Series
B Preferred Stock, Series C Preferred Stock, Series C-1 Preferred Stock and Series C-2 Preferred
Stock.

          1.6 The terms “register,” “registered,” and “registration” refer to a registration effected by
preparing and filing a registration statement in compliance with the Securities Act (as defined
below) and the applicable rules and regulations thereunder, and the declaration or ordering of the
effectiveness of such registration statement.

          1.7 The term “Registrable Shares” means and includes (i) any shares of Class A Common Stock
issued pursuant to the Issuance Agreement which constitute “Vested Shares” (as defined in the
Issuance Agreement), (ii) the shares of Class A Common Stock issuable or issued upon conversion of
the Class B Common Stock issued or issuable upon conversion of the Preferred Stock; (iii) the
shares of Class A Common Stock issued or issuable upon conversion of the Class B Common Stock
issued or issuable upon exercise of those certain warrants that were issued to the purchasers of
the Company’s Series B Preferred Stock; (iv) the shares of Class A Common Stock issued or issuable
upon conversion of the Class B Common Stock issued or issuable upon exercise of that certain
warrant issued to PayPal, Inc. on March 3, 2009 (the “PayPal Warrant”); and (v) any other shares of
Class A Common Stock issued as (or issuable upon the conversion or exercise of any warrant, right
or other security which is issued at) a dividend or other distribution with respect to, or in
exchange for or in replacement of, the shares listed in (i), (ii), (iii) and (iv) above, and in
each case held by a party to this Agreement and such party’s permitted assignee, excluding in all
cases, however, any Registrable Shares sold by a person in a transaction in which his or her rights
under Section 2 are not assigned

          1.8 The term “Ownership Percentage” means and includes, with respect to each Holder of
Registrable Shares requesting inclusion of Registrable Shares in an offering pursuant to this
Agreement, the number of Registrable Shares held by such Holder divided by the aggregate of (i) all
Registrable Shares held by all Holders requesting registration in such offering and (ii) the total
number of all other securities entitled to registration pursuant to any agreement with the Company
approved by the Board of Directors and held by others participating in the underwriting.

          1.9 The term “Public Offering” means and includes the closing of an underwritten public
offering pursuant to an effective registration statement under the Securities Act, covering the
offer and sale of securities to the general public for the account of the Company.

          1.10 The term “Qualified Initial Public Offering” means a firm commitment underwritten public
offering underwritten by a nationally recognized investment bank approved by the Company and the
holders of a majority of the then outstanding Preferred Stock pursuant to an effective registration
statement under the Securities Act covering the offer and sale of Class A Common Stock to the
public involving gross proceeds to the Company of at least $25,000,000 (before deductions of
underwriters commissions and expenses) at a per share offering price of at least $2.48 (as adjusted
for recapitalizations, stock combinations, stock dividends, stock splits and the like).

          1.11 The term “Securities Act” means the Securities Act of 1933, as amended.

2

 

     2. Registration Rights.

          2.1 Piggy Back Registration.

               (a) If at any time the Company shall determine to register under the Securities Act (including
pursuant to a demand of any stockholder of the Company exercising registration rights) any of its
Class A Common Stock (including pursuant to Section 2.2 or 2.3 below, but excluding registrations
relating solely to the sale of securities to participants in a Company employee benefits plan, a
registration on Form S-4 or any successor form or a registration in which the only capital stock of
the Company being registered is Class A Common Stock issuable upon conversion of debt securities
which are also being registered), it shall send to each Holder written notice of such determination
and, if within twenty (20) days after receipt of such notice, such Holder shall so request in
writing, the Company shall use its best efforts to include in such registration statement all or
any part of the Registrable Shares that such Holder requests to be registered.

               (b) Notwithstanding the foregoing, if, in connection with any offering involving an
underwriting of securities to be issued by the Company, the managing underwriter shall impose a
limitation on the number of shares of Class A Common Stock included in any such registration
statement because, in such underwriter’s judgment, such limitation is necessary based on market
conditions, then the Company may exclude Registrable Shares from such registration to the extent so
advised by the underwriters provided, however, that (i) in the event of any such exclusion,
the shares which are included in such registration shall be apportioned pro rata among the selling
stockholders according to their Ownership Percentage (or in such other proportions as shall
mutually be agreed to by such selling stockholders); (ii) the number of Registrable Shares included
in such registration shall not be reduced to less than twenty-five percent (25%) of the total value
of securities to be sold in such offering except in the case of the Company’s initial Public
Offering, in which case all securities (including Registrable Shares) other than those being sold
by the Company may be excluded from such registration; (iii) no securities being offered by the
Company for its own account shall be excluded from a registration except as set forth in the
following subsection (c) with respect to a registration effected pursuant to Section 2.2 below. In
addition, notwithstanding the foregoing, no stockholder of the Company otherwise entitled to
registration shall be entitled to include their shares in a registration pursuant to this Section
2.1 if such inclusion would reduce the number of shares includable by any Holder in such
registration without the consent of the Holders of a majority of Registrable Securities.

               (c) Notwithstanding anything to the contrary set forth herein, no Registrable Shares held by
an Initiating Holder (as defined below) shall be excluded from a registration effected pursuant to
Section 2.2 below. If the managing underwriter shall impose a limitation on the number of shares of
Class A Common Stock to be included in any such registration because, in such underwriter’s
judgment, such limitation is necessary based on market conditions, then the Company shall exclude
from such registration (i) first, Registrable Shares held by Holders other than the Initiating
Holders (as defined below), on a pro rata basis according to their respective Ownership Percentage,
and (ii) second, securities to be sold by the Company for its own account.

               (d) If any Holder disapproves of the terms of any underwriting referred to in this section, he
may elect to withdraw therefrom by written notice to the Company and the underwriter. No incidental
right under this Section 2.1 shall be construed to limit any registration required under Section
2.2.

               (e) Notwithstanding anything to the contrary set forth herein, in connection with the
Company’s currently proposed registered public offering of Class A Common Stock involving

3

 

an underwriting (the “Offering”) pursuant to a registration statement on Form S-1
(Registration No. 333-165081) filed with the Securities and Exchange Commission on February 26,
2010, as amended (the “Registration Statement”), and as an inducement for the Company and the
representatives of the investment banks that are underwriting the Offering (the “Underwriters”) to
continue their efforts in connection with the Offering, the undersigned holders of Registrable
Shares (on behalf of all holders of Registrable Shares under this Agreement or the Prior Agreement)
hereby waive any registration rights related to the Registrable Shares and the Registration
Statement, pursuant to Section 2.1 of this Agreement and the Prior Agreement, and acknowledge that
the Company is not required to include any Registrable Shares in such Offering. The undersigned
holders of Registrable Shares understand and acknowledge that the shares of Class A Common Stock
offered for sale under the Registration Statement may, at the discretion of the Company and the
Underwriters, include shares being resold by certain holders of the Company’s securities, and that
upon the execution of this Agreement by the Company and the holders of not less than 67% of the
Registrable Shares (as such term is defined in the Prior Agreement) currently outstanding, the
undersigned holders of Registrable Shares and some or all other holders of Registrable Shares may
be excluded from the Registration Statement.

          2.2 Required Registration.

               (a) Not earlier than the earlier of either (i) 180 days after the completion by the Company of
a Qualified Initial Public Offering or (ii) December 19, 2011, one or more Holders (the “Initiating
Holders”) of at least 50% of the Registrable Shares then outstanding may require the Company to
register such Initiating Holders’ Registrable Shares under the Securities Act, provided that such
registration covers an offering with an aggregate offering price of at least $5,000,000. Such
Initiating Holder(s) shall notify the Company in writing (the “Demand Notice”) that it or they
intend to offer or cause to be offered for public sale all or any portion of the Registrable
Shares, and within ten (10) days of the receipt of such Demand Notice, the Company will so notify
all other Holders as set forth in Section 2.1 above. The Company shall, within 45 days after
delivery by the Company of such written notices, prepare and file with the Securities and Exchange
Commission (the “SEC”), a registration statement for the purpose of effecting a registration under
the Securities Act of all Registrable Shares that the Initiating Holders have requested to be
registered. The Company shall use best efforts to cause such registration statement to be effective
under the Securities Act as soon as practicable, but in any event within 120 days after its receipt
of the Demand Notice.

               (b) Notwithstanding anything contained in this Section 2.2 or Section 2.3 to the contrary, if
the Company furnishes to the Holders requesting any registration pursuant to such sections a
certificate signed by the President of the Company stating that, in the good faith judgment of the
Board of Directors of the Company, such registration would be detrimental to the Company and that
it is in the best interests of the Company to defer the filing of a registration statement, then
the Company shall have the right to defer the filing of a registration statement with respect to
such offering for a period of not more than ninety (90) days from receipt by the Company of the
Demand Notice; provided, however, that the Company may not exercise such right more than once in
any twelve-month period; and provided that the Company shall not register any securities during
such ninety (90) day period (other than a registration of securities in a Rule 145 transaction or
with respect to an employee benefit plan).

               (c) If the Initiating Holders intend to distribute the Registrable Shares covered by their
request by means of an underwriting, they shall so advise the Company as part of their request and
the Company shall include such information in the written notice referred to above.

               (d) The underwriter shall be selected by a majority in interest of the Initiating Holders and
shall be reasonably acceptable to the Company. In such event, the right of any

4

 

Holder to include his or her Registrable Shares in such registration shall be conditioned upon
such Holder’s participation in such underwriting and the inclusion of such Holder’s Registrable
Shares in the underwriting to the extent provided herein. All Holders proposing to distribute their
securities through such underwriting shall enter into an underwriting agreement in customary form
with the underwriters selected for such underwriting.

               (e) Notwithstanding the foregoing, if the underwriter advises the Initiating Holders in
writing that marketing factors require a limitation of the number of shares to be underwritten,
then the Initiating Holders shall so advise the Company and the Company shall advise all Holders of
Registrable Shares which would otherwise be underwritten pursuant hereto, and the number of shares
of Registrable Shares that may be included in the underwriting shall be reduced as set forth in
Section 2.1(c) above.

               (f) Notwithstanding the foregoing, the Company shall not be obligated to effect, or to take
any action to effect, any registration pursuant to this Section 2.2: (i) if, within thirty (30)
days following the Company’s receipt of the Demand Notice, the Company provides the Initiating
Holders with written notice of its intent to file a registration statement for an initial Public
Offering within sixty (60) days; (ii) during the period starting with the date of filing of, and
ending one hundred eighty (180) days after the effective date of a Qualified Initial Public
Offering (provided that the Company shall make reasonable good faith efforts to cause such
registration statement to become effective once it has been filed), (iii) if the Initiating Holders
propose to dispose of shares of Registrable Shares that may be immediately registered on Form S-3
pursuant to a request made pursuant to Section 2.3 below or (iv) if the Company has effected two
registrations and such registrations have been declared or ordered effective.

               (g) If all of the Initiating Holders withdraw from any proposed offering, the Demand Notice
shall not count as a demand under this Section 2.2 if: (i) the Initiating Holders pay their pro
rata share (based on the number of securities initially proposed to be included in such
registration statement) of the expenses incurred by the Company in connection with such
registration statement; or (ii) the withdrawal occurs promptly after the Initiating Holders receive
notice of the occurrence of one or more events regarding the Company, which event or events may
have a material adverse affect upon the business or prospects of the Company, and such Holders
learn of such event or events after, the date of the notice of Demand Notice.

          2.3 Registration on Form S-3. In case the Company shall receive from one or more Holder or
Holders of at least twenty percent (20%) of the Registrable Shares then outstanding a written
request or requests (each, an “S-3 Request”) that the Company effect a registration on Form S-3 (or
any similar form promulgated by the SEC) and any related qualification or compliance with respect
to all or a part of the Registrable Shares owned by such Holder or Holders, the Company will:

               (a) within ten (10) days of the Company’s receipt of the S-3 Request give written notice of
the proposed registration, and any related qualification or compliance, to all other Holders; and

               (b) as soon as practicable, effect such registration and all such qualifications and
compliance as may be so requested and as would permit or facilitate the sale and distribution of
all or such portion of such Holder’s or Holders’ Registrable Shares as are specified in such
request, together with all or such portion of the Registrable Shares of any other Holder or Holders
joining in such request pursuant to Section 2.1, and shall use its best efforts to cause such
registration to be effective under the Securities Act as soon as practicable, and in any event
within 120 days after receipt of

5

 

the S-3 Request; provided, however, that the Company shall not be obligated to effect any such
registration, qualification or compliance pursuant to this Section 2.3: (i) if Form S-3 (or similar
or successor form) is not available for such offering by the Holders requesting such registration;
(ii) if the Company shall furnish to the Holders requesting such registration a certificate signed
by the President of the Company stating that in the good faith judgment of the Board of Directors
of the Company, it would be seriously detrimental to the Company and its stockholders for such Form
S-3 Registration to be effected at such time, in which event the Company shall have the right to
defer the filing of the Form S-3 registration statement for a period of not more than ninety (90)
days after its receipt of the S-3 Request; provided, however, that the Company shall not utilize
this right more than once in any twelve (12) month period and the Company shall not register any
securities during such ninety (90) day period (other than a registration of securities in a Rule
145 transaction or with respect to an employee benefit plan); (iii) if such Form S-3 Registration
covers an offering of Registrable Shares of less than $1,000,000, net of underwriting discounts and
commissions, (iv) if the Company has, within the twelve (12) month period preceding the date of
such request, already effected two registrations on Form S-3 for the Holders; or (v) in any
particular jurisdiction in which the Company would be required to qualify to do business or to
execute a general consent to service of process in effecting such registration, qualification or
compliance.

               (c) Subject to the foregoing, the Company shall file a registration statement covering the
Registrable Shares and other securities so requested to be registered as soon as practicable after
receipt of the request or requests of the Holders. A registration effected pursuant to this Section
2.3 shall not be counted as a demand for registration effected pursuant to Section 2.2.

          2.4 Effectiveness.

               (a) The Company will use its best efforts to maintain the effectiveness for up to one hundred
eighty (180) days of any registration statement pursuant to which any of the Registrable Shares are
being offered; provided, however, that: (i) such one hundred eighty (180) day period shall be
extended for a period of time equal to the period the Holder refrains from selling any securities
included in such registration at the request of an underwriter of any securities of the Company and
(ii) in the case of any registration of Registrable Shares on Form S-3 which are intended to be
offered on a continuous or delayed basis, such one hundred eighty (180) day period shall be
extended, if necessary, to keep the registration statement effective until the earlier to occur of
(A) twelve (12) months following the effectiveness of the registration statement, or (B) the date
that all such Registrable Shares are sold, provided that Rule 415, or any successor rule under the
Act, permits an offering on a continuous or delayed basis.

               (b) The Company will from time to time amend or supplement such registration statement and the
prospectus contained therein as and to the extent necessary to comply with the Securities Act and
any applicable state securities statute or regulation.

          2.5 Indemnification.

               (a) Indemnification of Holders. In the event that the Company registers any of the
Registrable Shares under the Securities Act, the Company will indemnify and hold harmless each
Holder of the Registrable Shares so registered, each of such Holder’s Affiliates (including without
limitation each person, if any, who controls such Holder within the meaning of Section 15 of the
Securities Act), and each of such Holders’ and such Affiliates’ respective officers, directors,
employees, partners, agents and members, from and against any and all losses, claims, damages,
expenses or liabilities (or any action in respect thereof), joint or several, to which they or any
of them become subject under the Securities Act, the Securities Exchange Act of 1934, as amended
(the “Exchange Act”), a state

6

 

securities law or any rule or regulation under the Securities Act, the Exchange Act or any
state securities law (collectively, “Applicable Securities Laws”), and, except as hereinafter
provided, will reimburse each such Holder, each such Affiliate and each such officer,
director, employee, partner, agent or member, if any, for any legal or other expenses reasonably
incurred by them or any of them, as such expenses are incurred, in connection with investigating,
preparing or defending any actions whether or not resulting in any liability, insofar as such
losses, claims, damages, expenses, liabilities or actions arise out of or are based upon (i) any
untrue statement or alleged untrue statement of a material fact contained in the registration
statement, in any preliminary or amended preliminary prospectus or in the prospectus (or the
registration statement or prospectus as from time to time amended or supplemented by the Company);
(ii) the omission or alleged omission to state therein a material fact required to be stated
therein or necessary in order to make the statements therein not misleading; or (iii) any violation
by the Company of Applicable Securities Laws in connection with such registration; provided,
however, that the indemnity contained in this Section 2.5(a) will not apply where such untrue
statement or omission was made in such registration statement, preliminary or amended, preliminary
prospectus or prospectus in reliance upon and in conformity with information furnished in writing
to the Company in connection therewith by such Holder of Registrable Shares or any such controlling
person expressly for use therein. Notwithstanding the foregoing, the Company will not be required
to indemnify any of the foregoing persons from and against any and all losses, claims, damages,
expenses or liabilities (or any action in respect thereof) if such untrue statement or omission was
made in such registration statement, preliminary or amended, preliminary prospectus or prospectus
and was corrected in a subsequent prospectus that was required by law to be delivered to the person
making the claim with respect to which indemnification is sought hereunder, and such subsequent
prospectus was made available by the Company to permit delivery of such prospectus in a timely
manner by the Holder to the proposed purchaser, and such subsequent prospectus was so delivered to
the Holder making the claim for indemnification and such Holder failed to deliver such corrected
prospectus. Promptly after receipt by any Holder of Registrable Shares or any controlling person of
notice of the commencement of any action in respect of which indemnity may be sought against the
Company, such Holder of Registrable Shares, or such controlling person, as the case may be, will
notify the Company in writing of the commencement thereof, and, subject to the provisions
hereinafter stated, the Company shall assume the defense of such action (including the employment
of counsel, who shall be counsel reasonably satisfactory to such Holder of Registrable Shares, or
such controlling person, as the case may be), and the payment of expenses insofar as such action
shall relate to any alleged liability in respect of which indemnity may be sought against the
Company. Such Holder of Registrable Shares or any such controlling person shall have the right to
employ separate counsel in any such action and to participate in the defense thereof in the event
the representation of such Holder or controlling person by counsel retained by or on the behalf of
the Company would be inappropriate due to conflicts of interest between any such person and any
other party represented by such counsel in such proceeding or action, in which case the Company
shall pay, as incurred, the fees and expenses of such separate counsel. The Company shall not be
liable to indemnify any person under this Section 2.5(a) for any settlement
of any such action
effected without the Company’s consent (which consent shall not be unreasonably withheld). The
Company shall not, except with the approval of each party being indemnified under this Section
2.5(a) (which approval will not be unreasonably withheld), consent to entry of any judgment or
enter into any settlement that does not include as an unconditional term thereof the giving by the
claimant or plaintiff to the parties being so indemnified of a release from all liability in
respect to such claim or litigation.

               (b) Indemnification of Company. In the event that the Company registers any of the
Registrable Shares under the Securities Act, each Holder of the Registrable Shares so registered
will indemnify and hold harmless the Company, each of its directors, each of its officers who have
signed the registration statement and each person, if any, who controls the Company within the

7

 

meaning of Section 15 of the Securities Act from and against any and all losses, claims,
damages, expenses or liabilities (or any action in respect thereof), to which they or any of them
may become subject under Applicable Securities Laws, and, except as hereinafter provided, will
reimburse the Company and each such director, officer or controlling person for any legal or other
expenses reasonably incurred by them or any of them, as such expenses are incurred, in connection
with investigating or defending any actions whether or not resulting in any liability, insofar as
such losses, claims, damages, expenses, liabilities or actions arise out of or are based upon any
untrue statement or alleged untrue statement of a material fact contained in the registration
statement, in any preliminary or amended preliminary prospectus or in the prospectus (or the
registration statement or prospectus as from time to time amended or supplemented) or arise out of
or are based upon the omission or alleged omission to state therein a material fact required to be
stated therein or necessary in order to make the statements therein not misleading, but only
insofar as any such statement or omission was made in reliance upon and in conformity with
information furnished in writing to the Company in connection therewith by such Holder, expressly
for use therein; provided, however, that such Holder’s obligations hereunder shall be limited to an
amount equal to the net proceeds to such Holder of the Registrable Shares sold in such
registration. Promptly after receipt of notice of the commencement of any action in respect of
which indemnity may be sought against such Holder of Registrable Shares, the Company will notify
such Holder of Registrable Shares in writing of the commencement thereof, and such Holder of
Registrable Shares shall, subject to the provisions hereinafter stated, assume the defense of such
action (including the employment of counsel, who shall be counsel reasonably satisfactory to the
Company) and the payment of expenses insofar as such action shall relate to the alleged liability
in respect of which indemnity may be sought against such Holder of Registrable Shares. The Company
and each such director, officer or controlling person shall have the right to employ separate
counsel in any such action and to participate in the defense thereof in the event the
representation of the Company, any of its officers or directors or controlling person by counsel
retained by or on the behalf of such Holder would be inappropriate due to conflicts of interest
between any such person and any other party represented by such counsel in such proceeding or
action, in which case such Holder shall pay, as incurred, the fees and expenses of such separate
counsel. Notwithstanding the two preceding sentences, if the action is one in which the Company may
be obligated to indemnify any Holder of Registrable Shares pursuant to Section 2.5(a), the Company
shall have the right to assume the defense of such action, subject to the right of such Holders to
participate therein as permitted by Section 2.5(a). Such Holder shall not be liable to indemnify
any person for any settlement of any such action effected without such Holder’s consent (which
consent shall not be unreasonably withheld). Such Holder shall not, except with the approval of the
Company (which approval shall not be unreasonably withheld), consent to entry of any judgment or
enter into any settlement that does not include as an unconditional term thereof the giving by the
claimant or plaintiff to the party being so indemnified of a release from all liability in respect
to such claim or litigation.

          2.6 Contribution. If the indemnification provided for in Section 2.5 is held by a court of
competent jurisdiction to be unavailable to an indemnified party with respect to any loss,
liability, claim, damage, or expense referred to therein, then the indemnifying party, in lieu of
indemnifying such indemnified party hereunder, shall contribute to the amount paid or payable by
such indemnified party as a result of such loss, liability, claim, damage, or expense in such
proportion as is appropriate to reflect the relative fault of the indemnifying party on the one
hand and of the indemnified party on the other in connection with the statements or omissions that
resulted in such loss, liability, claim, damage, or expense as well as any other relevant equitable
considerations. The relative fault of the indemnifying party and of the indemnified party shall be
determined by reference to, among other things, whether the untrue or alleged untrue statement of a
material fact or the omission to state a material fact relates to information supplied by the
indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access
to information, and opportunity to correct or prevent such statement or

8

 

omission, provided, however, that in no event shall any contribution by a Holder hereunder
exceed the net proceeds from the offering received by such Holder.

          2.7 Exchange Act Registration. With a view to making available to the Holders the benefits of
Rule 144 promulgated under the Securities Act and any other rule or regulation of the SEC that may
at any time permit a Holder to sell securities of the Company to the public without registration or
pursuant to a registration on Form S-3, the Company agrees to:

               (a) make and keep public information available, as those terms are understood and defined in
SEC Rule 144, at all times after ninety (90) days after the effective date of the first
registration statement filed by the Company for the offering of its securities to the general
public;

               (b) take such reasonable action, including the voluntary registration of its Class A Common
Stock under Section 12 of the Exchange Act, as is necessary to enable the Holders to utilize Form
S-3 for the sale of their Registrable Shares;

               (c) file on a timely basis with the SEC all information that the SEC may require under either
of Section 13 or Section 15(d) of the Exchange Act and, so long as it is required to file such
information, take all action that may be required as a condition to the availability of Rule 144
under the Securities Act (or any successor exemptive rule hereinafter in effect) with respect to
the Company’s Class A Common Stock; and

               (d) furnish to any Holder forthwith upon request (i) a written statement by the Company as to
its compliance with the reporting requirements of Rule 144, (ii) a copy of the most recent annual
or quarterly report of the Company as filed with the SEC, and (iii) any other reports and documents
that a Holder may reasonably request in availing itself of any rule or regulation of the SEC
allowing a Holder to sell any such Registrable Shares without registration.

          2.8 Further Obligations of the Company. Whenever the Company is required hereunder to
register Registrable Shares, it agrees that it shall also do the following:

               (a) Furnish to each selling Holder such copies of each preliminary and final prospectus and
any other documents that such Holder may reasonably request to facilitate the public offering of
its Registrable Shares;

               (b) Use its best efforts to register or qualify the Registrable Shares to be registered
pursuant to this Agreement under the applicable securities or “blue sky” laws of such jurisdictions
as any selling Holder may reasonably request; provided, however, that the Company shall not be
obligated to qualify to do business in any jurisdiction where it is not then so qualified or to
take any action that would subject it to the service of process in suits other than those arising
out of the offer or sale of the securities covered by the registration statement in any
jurisdiction where it is not then so subject;

               (c) Notify each Holder of Registrable Shares covered by such registration statement at any
time when a prospectus relating thereto is required to be delivered under the Securities Act of the
happening of any event as a result of which the prospectus included in such registration statement,
as then in effect, includes an untrue statement of a material fact or omits to state a material
fact required to be stated therein or necessary to make the statements therein not misleading in
the light of the circumstances then existing. The Company will use reasonable efforts to amend or
supplement such prospectus in order to cause such prospectus not to include any untrue statement of
a material fact or omit

9

 

to state a material fact required to be stated therein or necessary to make the statements
therein not misleading in the light of the circumstances then existing;

               (d) Cause all such Registrable Shares registered pursuant hereunder to be listed on each
securities exchange on which similar securities issued by the Company are then listed;

               (e) Provide a transfer agent and registrar for all Registrable Shares registered pursuant
hereunder and a CUSIP number for all such Registrable Shares, in each case not later than the
effective date of such registration;

               (f) In the event of any underwritten public offering, enter into and perform its obligations
under an underwriting agreement, in usual and customary form, with the managing underwriter of such
offering. Each Holder participating in such underwriting shall also enter into and perform its
obligations under such an agreement;

               (g) Furnish, at the request of any Holder requesting registration of Registrable Shares
pursuant to this Section 2, on the date that such Registrable Shares are delivered to the
underwriters for sale in connection with a registration pursuant to this Section 2, if such
securities are being sold through underwriters, or, if such securities are not being sold through
underwriters, on the date that the registration statement with respect to such securities becomes
effective:

                    (i) an opinion, dated such date, of the counsel representing the Company for the purposes of
such registration, in form and substance as is customarily given to underwriters in an underwritten
public offering, addressed to the underwriters, if any, and to the Holders requesting registration
of Registrable Shares; and

                    (ii) “comfort” letters signed by the Company’s independent public accountants who have
examined and reported on the Company’s financial statements included in the registration statement,
to the extent permitted by the standards of the American Institute of Certified Public Accountants,
covering substantially the same matters with respect to the registration statement (and the
prospectus included therein) and with respect to events subsequent to the date of the financial
statements, as are customarily covered in accountants’ “comfort” letters delivered to the
underwriters in underwritten public offerings of securities, but only if and to the extent that the
Company is required to deliver or cause the delivery of such “comfort” letters to the underwriters
in an underwritten public offering of securities;

               (h) Permit each selling Holder or his or her counsel or other representatives to inspect and
copy such corporate documents and records as may reasonably be requested by them; and

               (i) Furnish to each selling Holder, upon request, a copy of all documents filed and all
correspondence from or to the SEC in connection with any such offering unless confidential
treatment of such information has been requested of the SEC.

          2.9 Expenses. In the case of a registration under Sections 2.1, 2.2 or 2.3 the Company shall
bear all costs and expenses of each such registration, including, but not limited to, printing,
legal and accounting expenses, SEC filing fees and “blue sky” fees and expenses; provided, however,
that the Company shall have no obligation to pay or otherwise bear (i) any portion of the fees or
disbursements of more than one counsel for the Holders in connection with the registration of their
Registrable Shares, which in no event shall exceed a reasonable fee, (ii) any portion of the
underwriter’s commissions or discounts attributable to the Registrable Shares being offered and
sold by the Holders of

10

 

Registrable Shares, or (iii) any of such expenses if the payment of such expenses by the
Company is prohibited by the laws of a state in which such offering is qualified and only to the
extent so prohibited.

          2.10 Transfer of Registration Rights. The registration rights of a Holder of Registrable
Shares under this Agreement may be transferred as set forth below, provided in each case that (i)
immediately following such transfer or assignment the further disposition of the Registrable Shares
so transferred or assigned is restricted under the Securities Act; (ii) the transferee or assignee
agrees in writing to be bound by the terms of this Agreement, (iii) the Company is given written
notice prior to such transfer; and (iv) the transfer or assignment is to: (A) any partner or
affiliate of a Holder (it being understood that any investment partnership for which David W. Hanna
has the power to direct investment decisions constitutes an affiliate of the David William Hanna
Trust dated October 30, 1989); (B) in the case of an individual, any member of the immediate family
of such individual or to any trust for the benefit of the individual or any such family member or
members; or (C) any other transferee which receives at least two percent (2%) of the Registrable
Securities outstanding on the date hereof. Notwithstanding the foregoing, the registration rights
of a Holder under this Agreement may not be transferred to an entity, or a person controlled by,
under common control with or controlling such entity, which is a direct competitor of the Company.
Notwithstanding clause (iv) above, the holder of the PayPal Warrant shall have the right to assign
or transfer its registration rights under this Agreement to any party to whom the PayPal Warrant or
the shares acquired upon exercise of the PayPal Warrant are transferred provided such transferee or
assignee is a party to whom the PayPal Warrant could be transferred in an Exempt Warrant Transfer
(as defined in the PayPal Warrant).

          2.11 No Superior Rights; Most Favored Nations. The Company will not, without first obtaining
the prior written consent of the Holders of a majority of the Registrable Shares, grant (i) any
“piggy back” registration rights to any person or entity which would reduce the number of shares
includable by the Holders pursuant to Section 2.1; or (ii) any registration rights to any person or
entity that are otherwise superior to the rights granted hereunder. In the event that the Company
grants rights superior to the rights granted hereunder after obtaining such written consent (or
waiver thereof pursuant to Section 5 below), any superior rights granted to other persons or
entities shall apply to the Holders and shall be deemed to be incorporated into this Agreement.
Notwithstanding the foregoing, the Company may grant pari passu registration rights to the rights
granted hereunder without any such consent.

          2.12 Market Stand-Off Agreement. Provided that all Holders are treated equally and that
holders of at least 1% of the outstanding securities of the Company and all officers and directors
of the Company are also so bound, no Holder shall, to the extent requested by any managing
underwriter of the Company, sell or otherwise transfer or dispose of (other than to donees who
agree to be similarly bound) any Registrable Shares during a period (the “Stand-Off Period”) equal
to 180 days following the effective date of a registration statement of the Company’s initial
Public Offering filed under the Securities Act (or such shorter period as the Company or managing
underwriter may authorize, so long as the applicable Stand-Off Period for all Holders is the same)
(or such longer period as may be requested by the Company or an underwriter to accommodate
regulatory restrictions on (i) the publication or other distribution of research reports and (ii)
analyst recommendations and opinions, including, but not limited to, the restrictions contained in
NASD Rule 2711(f)(4) or NYSE Rule 472(f)(4), or any successor provisions or amendments thereto),
and except for securities sold as part of the offering covered by such registration statement in
accordance with the provisions of this Agreement; provided, that if any officer, director, or
holder of 1% of the outstanding securities of the Company (the “Specified Shareholders”) is
released by such underwriter from its lockup obligations as referenced hereunder, then all Holders
shall be so released on a pro rata basis (with the percentage of each Holder’s Registrable
Securities so released being equal to the percentage of shares so released for the Specified
Shareholder having the highest

11

 

percentage of released shares among all of the Specified Shareholders). In order to enforce
the foregoing covenant, the Company may impose stock transfer restrictions with respect to the
Registrable Shares of each Holder until the end of the Stand-Off Period. Notwithstanding the
foregoing, the obligations described in this Section 2.12 shall not apply to a registration
relating solely to employee benefit plans on Form S-1 or Form S-8 or similar forms which may be
promulgated in the future, or a registration relating solely to an acquisition of another person’s
business, Form S-4 or similar forms which may be promulgated in the future.

          2.13 Termination of Registration Rights. The obligations of the Company to register any
Holder’s Registrable Shares pursuant to this Section 2 shall terminate five (5) years after the
Company’s Qualified Initial Public Offering, and the obligations of the Company to register any
Holder’s Registrable Shares pursuant to this Section 2 shall be suspended at all such times as all
of the Registrable Shares of such Holder may be sold within a three month period without limitation
under SEC Rule 144.

     3. Assignability. This Agreement shall be binding upon and inure to the benefit of the
respective heirs, successors and assigns of the parties hereto.

     4. Law. This Agreement shall be governed by and construed in accordance with the laws of the
State of California; provided, however, that if any California law or laws require or permit the
application of the laws of any other jurisdiction to this Agreement, such California law or laws
shall be disregarded with the effect that the remaining laws of the State of California shall
nonetheless apply.

     5. Amendment. Any provision in this Agreement to the contrary notwithstanding, changes in or
additions to this Agreement may be made, and compliance with any covenant or provision herein set
forth may be omitted or waived, either retroactively or prospectively, with the written consent of
(i) the Company, and (ii) the Holders of not less than 67% of the Registrable Shares then
outstanding, which shall be binding upon all of the parties hereto. The Company shall, in each
such case, deliver copies of such consents in writing to any Holder who did not execute the same.

     6. Counterparts. This Agreement may be executed in any number of counterparts, each of which
shall be an original, but all of which together shall constitute one instrument.

     7. Notice. Any notices and other communications required or permitted under this Agreement
shall be effective if in writing and delivered personally or sent by telecopier, Federal Express or
other generally recognized overnight carrier or registered or certified mail, postage prepaid,
addressed as follows:

	 	 	 

	If to a Holder, to:

	 	The name and address set forth on Schedule 1 hereto.
	 
	 	 
	If to the Company:

	 	Green Dot Corporation
	 

	 	605 E. Huntington Drive, Suite 205
	 

	 	Monrovia, California 91016
	 

	 	Attention: Chief Executive Officer and General Counsel
	 

	 	Facsimile: (626) 775-3704
	 
	 	 
	with a copy to:

	 	Fenwick & West LLP
	 

	 	801 California Street
	 

	 	Mountain View, CA 94041

12

 

	 	 	 

	 

	 	Attention:      Gordon Davidson
	 

	 	                       Andrew Luh
	 

	 	Facsimile: (650) 938-5200

Unless otherwise specified herein, such notices or other communications shall be deemed effective
(and to have been received) (a) on the date delivered, if delivered personally, (b) one (1)
business day after being sent, if sent by Federal Express or other generally recognized overnight
carrier, (c) one business day after being sent, if sent by fax with confirmation of good
transmission and receipt, and (d) three business days after being deposited in the U.S. mail, First
Class with postage prepaid. Each of the parties herewith shall be entitled to specify another
address by giving notice as aforesaid to each of the other parties hereto.

     8. Severability. In case any provision of this Agreement shall be invalid, illegal, or
unenforceable, it shall, to the extent practicable, be modified so as to make it valid, legal and
enforceable and to retain as nearly as practicable the intent of the parties; and the validity,
legality, and enforceability of the remaining provisions shall not in any way be affected or
impaired thereby.

     9. Survival. The obligations of the Company and the Holders under Section 2.5 and Section 2.6
of this Agreement shall survive completion of any offering of Registrable Shares in a registration
statement and the termination of this Agreement.

13

 

     IN WITNESS WHEREOF, the parties hereto have executed this Ninth Amended and Restated
Registration Rights Agreement as of the date first above written.

	 	 	 	 	 
	 	THE COMPANY

GREEN DOT CORPORATION

 	 
	 	By:  	/s/ Steve Streit
 	 
	 	 	Steve Streit, President 	 
	 	 	 	 
	 

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Ninth Amended and Restated
Registration Rights Agreement as of the date first above written.

	 	 	 	 	 	 	 

	 	 	HOLDER	 	 
	 
	 	 	 	 	 	 
	 	 	TCV VII, L.P.

a Cayman Islands exempted limited partnership,

acting by its general partner	 	 
	 
	 	 	 	 	 	 
	 	 	Technology Crossover Management VII, L.P.

a Cayman Islands exempted limited partnership,

acting by its general partner	 	 
	 
	 	 	 	 	 	 
	 	 	Technology Crossover Management VII, Ltd.

a Cayman Islands exempted company	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ F. Fenton
 

Name: F. Fenton
	 	 
	 

	 	 	 	Title: Authorized Signatory	 	 
	 
	 	 	 	 	 	 
	 	 	TCV VII (A), L.P.

a Cayman Islands exempted limited partnership,

acting by its general partner	 	 
	 
	 	 	 	 	 	 
	 	 	Technology Crossover Management VII, L.P.

a Cayman Islands exempted limited partnership,

acting by its general partner	 	 
	 
	 	 	 	 	 	 
	 	 	Technology Crossover Management VII, Ltd.

a Cayman Islands exempted company	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ F. Fenton	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: F. Fenton	 	 
	 

	 	 	 	Title: Authorized Signatory	 	 
	 
	 	 	 	 	 	 
	 	 	TCV Member Fund, L.P.

a Cayman Islands exempted limited partnership,

acting by its general partner	 	 
	 
	 	 	 	 	 	 
	 	 	Technology Crossover Management VII, Ltd.

a Cayman Islands exempted company	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ F. Fenton	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: F. Fenton	 	 
	 

	 	 	 	Title: Authorized Signatory	 	 

 

 

     IN WITNESS WHEREOF, the parties hereto have executed this Ninth Amended and Restated
Registration Rights Agreement as of the date first above written.

	 	 	 	 	 	 	 	 	 

	 	 	          HOLDER	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	SEQUOIA CAPITAL FRANCHISE FUND

SEQUOIA CAPITAL FRANCHISE PARTNERS	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:
	 	SCFF Management, LLC	 	 
	 

	 	 	 	 	 	A Delaware Limited Liability Company	 	 
	 

	 	 	 	 	 	General Partner of Each	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	/s/ Michael Moritz	 	 
	 	 	 	 	 	 	 
	 	 	 	 	Michael Moritz, Managing Member	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	SEQUOIA CAPITAL IX

SEQUOIA CAPITAL ENTREPRENEURS ANNEX FUND	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:
	 	SCIX.1 Management, LLC	 	 
	 

	 	 	 	 	 	A Delaware Limited Liability Company	 	 
	 

	 	 	 	 	 	General Partner of Each	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	/s/ Michael Moritz	 	 
	 	 	 	 	 	 	 
	 	 	 	 	Michael Moritz, Managing Member	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	SEQUOIA CAPITAL U.S. GROWTH FUND IV, L.P.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:
	 	SCGF IV Management, L.P.	 	 
	 

	 	 	 	 	 	A Cayman Islands exempted limited partnership	 	 
	 	 	 	 	Its General Partner	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:
	 	SCGF GenPar, Ltd	 	 
	 

	 	 	 	 	 	A Cayman Islands limited liability company	 	 
	 

	 	 	 	 	 	Its General Partner	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:
	 	/s/ Michael Moritz	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Managing Director	 	 

 

 

     IN WITNESS WHEREOF, the parties hereto have executed this Ninth Amended and Restated
Registration Rights Agreement as of the date first above written.

	 	 	 	 	 	 	 	 	 	 	 

	 	 	HOLDER	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	TTP FUND, LP	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	Total Technology Partners, LLC	 	 
	 	 	 	 	Its:	 	General Partner	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:
	 	/s/ Gardiner W. Garrard, III
 

Gardiner W. Garrard III,
	 	 
	 

	 	 	 	 	 	 	 	Managing Partner	 	 

 

 

     IN WITNESS WHEREOF, the parties hereto have executed this Ninth Amended and Restated
Registration Rights Agreement as of the date first above written.

	 	 	 	 	 	 	 

	 	 	HOLDER	 	 
	 
	 	 	 	 	 	 
	 	 	TENAYA CAPITAL V, L.P.	 	 
	 
	 	 	 	 	 	 
	 	 	by: Tenaya Capital V GP, L.P., its General Partner	 	 
	 
	 	 	 	 	 	 
	 	 	By: Tenaya Capital V GP, LLC, its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ James A. Hinson
 

	 	 
	 

	 	Name:
	 	James A. Hinson	 	 
	 

	 	Title:
	 	COO	 	 
	 
	 	 	 	 	 	 
	 	 	TENAYA CAPITAL V-P, L.P.	 	 
	 
	 	 	 	 	 	 
	 	 	By: Tenaya Capital V GP, L.P., its General Partner	 	 
	 
	 	 	 	 	 	 
	 	 	By: Tenaya Capital V GP, LLC, its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ James A. Hinson
 

	 	 
	 

	 	Name:
	 	James A. Hinson	 	 
	 

	 	Title:
	 	COO	 	 

 

 

     IN WITNESS WHEREOF, the parties hereto have executed this Ninth Amended and Restated
Registration Rights Agreement as of the date first above written.

	 	 	 	 	 	 	 	 	 

	 	 	HOLDER	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	DAVID WILLIAM HANNA TRUST DATED
 OCTOBER 30, 1989	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:
	 	/s/ David W. Hanna
 

David W. Hanna, Trustee
	 	 

 

 

     IN WITNESS WHEREOF, the parties hereto have executed this Ninth Amended and Restated
Registration Rights Agreement as of the date first above written.

	 	 	 	 	 	 	 	 	 

	 	 	HOLDER	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	YKA PARTNERS LTD.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:
	 	/s/ Kenneth Aldrich
 

Kenneth Aldrich
	 	 
	 

	 	 	 	 	 	General Partner	 	 

 

 

     IN WITNESS WHEREOF, the parties hereto have executed this Ninth Amended and Restated
Registration Rights Agreement as of the date first above written.

	 	 	 	 	 
	 	HOLDER

 	 
	 	/s/ Donald B. Wiener
 	 
	 	Donald B. Wiener 	 
	 	 	 
	 

 

 

     IN WITNESS WHEREOF, the parties hereto have executed this Ninth Amended and Restated
Registration Rights Agreement as of the date first above written.

	 	 	 	 	 
	 	HOLDER

 	 
	 	/s/ Jacques L. Wiener as agent
 	 
	 	Mark L. Shike & Patrcia W. Shifke, as Joint Tenants 	 
	 	 	 
	 

 

 

     IN WITNESS WHEREOF, the parties hereto have executed this Ninth Amended and Restated
Registration Rights Agreement as of the date first above written.

	 	 	 	 	 	 	 

	 

	 	 	 	HOLDER	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	/s/ Eric C. Weiss
 

William B. Wiener, Jr., by Eric C. Weiss, Agent
	 	 
	 
	 	 	 	 	 	 
	 	 	WILLIAM B. WIENER, JR. FOUNDATION
	 
	 	 	 	 	 	 
	 

	 	 	 	/s/ Donald B. Wiener	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Donald B. Wiener, Vice President	 	 

 

 

     IN WITNESS WHEREOF, the parties hereto have executed this Ninth Amended and Restated
Registration Rights Agreement as of the date first above written.

	 	 	 	 	 
	 	HOLDER

 	 
	 	/s/ Jacques L. Wiener as agent
 	 
	 	Betty Wiener Spomer 	 
	 	 	 
	 

 

 

     IN WITNESS WHEREOF, the parties hereto have executed this Ninth Amended and Restated
Registration Rights Agreement as of the date first above written.

	 	 	 	 	 
	 	HOLDER

 	 
	 	/s/ Jacques L. Wiener as agent
 	 
	 	Jacques L. Wiener, III 	 
	 	 	 
	 

 

 

     IN WITNESS WHEREOF, the parties hereto have executed this Ninth Amended and Restated
Registration Rights Agreement as of the date first above written.

	 	 	 	 	 
	 	HOLDER

 	 
	 	/s/ Jacques L. Wiener as agent
 	 
	 	Sandra Baron Wiener 	 
	 	 	 
	 

 

 

     IN WITNESS WHEREOF, the parties hereto have executed this Ninth Amended and Restated
Registration Rights Agreement as of the date first above written.

	 	 	 	 	 
	 	HOLDER

 	 
	 	/s/ Jacques L. Wiener as agent
 	 
	 	Jacques L. Wiener, Jr. 	 
	 	 	 
	 

 

 

     IN WITNESS WHEREOF, the parties hereto have executed this Ninth Amended and Restated
Registration Rights Agreement as of the date first above written.

	 	 	 	 	 	 	 

	 	 	HOLDER	 	 
	 
	 	 	 	 	 	 
	 	 	WAL-MART STORES, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ Jane Thompson
 

Jane Thompson
	 	 
	 

	 	Title:
	 	Senior Vice President	 	 

 

 

SCHEDULE 1

HOLDERS

Name and Address of Holder

TCV VII, L.P.

TCV VII (A), L.P.

TCV Member Fund, L.P.

528 Ramona Street

Palo Alto, CA 94301

Sequoia Capital Franchise Fund

Sequoia Capital Franchise Partners

Sequoia Capital IX.I Holdings, LLC

Sequoia Capital Entrepreneurs Annex Fund

Sequoia Capital U.S. Growth Fund IV, L.P.

3000 Sand Hill Rd.

Bldg. 4, Suite 250

Menlo Park, CA 94025

Tenaya Capital V, L.P.

Tenaya Capital V-P, L.P.

3000 Sand Hill Road

Building 3, Suite 190

Menlo Park, CA 94025

David William Hanna Trust dated October 30,
1989

c/o Hanna Capital Management

8105 Irvine Center Drive

Suite 1170

Irvine, CA 92618

Attention: Virginia L. Hanna

 

 

Name and Address of Holder

TTP Fund, L.P.

1349 West Peachtree Street, NE

Suite 1190

Atlanta, Georgia 30309

Sara Jane DeWitt

1178 San Marino Avenue

San Marino, CA 911 08

George W. Hart III

222 W. 14th Street

Apt 4C

New York, NY 10011

The Lazar Family Trust

5342 Aldea Avenue

Encino, CA 91316

BMS Investments

1667 W. Washington Boulevard

Los Angeles, CA 90007

Elaine Miller, trustee, Miller Living Survivors
Trust

Robert Miller, attorney-in-fact for the estate of
Irwin D. Miller

P.O. Box 575

Ross, CA 94957-0575

The Zechter Family Trust

Richard Harlan Zechter

Lawrence Glen Zechter

Susan Carol Zechter

c/o Sol Zechter

3141 Michelson Drive

Suite 1802

Irvine, CA 92612

YKA Partners, Ltd.

157 Surfview Drive

Pacific Palisades, CA 90272

Jeff Schweiger

7430 Miami View Drive

North Bay Village, FL 33141

 

 

Name and Address of Holder

Mark Shifke

Patricia W. Shifke

Mark L. Shifke & Patricia W. Shifke, as joint tenants

Donald B. Wiener

William B. Wiener

Betty Wiener Spomer

Jacques L. Wiener, Jr.

Jacques L. Wiener, III

Sandra Baron Wiener

Sandra M. Feingerts

Sandra M Feingerts Children’s Trust U/A dated 12/5103

The Jonathan Loeb Shifke Trust U/A Dated 12/24/87

The Katherine Elisabeth Shifke Trust U/A dated 4/11/91

The David Jacques Shifke Trust U/A Dated 12/4/91

The Caroline Rose Shifke Trust U/A Dated 12/13/89

The Thomas Max Wiener Trust U/A Dated 3/16/99

The John Baron Wiener Trust U/A Dated 12/11/98

The Kathryn Ellen Wiener Trust U/A Dated 11/12/93

The Andrew Charles Spomer Trust U/A Dated 1]/12193

The Daniel Baron Spomer Trust U/A Dated 4/10/96

The Sophie Grace Wiener Trust, U/A Dated August 19, 2003

c/o Wiener Associates

333 Texas Street, Suite 2375

Shreveport, LA 71101

Avishai Shachar

59 Shore Drive

Larchmont, NY 10538

Kathleen L. Ferrell

714 Broadway #8

New York, NY 10003

Howard Ellins

47 Horatio Street

New York, NY 10014

Mario Verdolini

1133 Park Avenue

New York, NY 10128

 

 

Name and Address of Holder

Steve Streit

Steven W. Streit Family Trust

907 El Campo Drive

Pasadena, CA 91107

Jennifer C. Streit Revocable Trust UTD May 4, 2006

1245 San Marino Avenue

San Marino, CA 91108

Christopher S. Hameetman

1925 Century Park East

Suite 2100

Los Angeles, California 90067

Kodiak Ventures, LP

1430 Glencoe Drive

Arcadia, CA 91006

Steven J. Pfrenzinger and Margaret A. Pfrenzinger

Family Trust Dated 03/25/83

73-987 Desert Garden Trail

Palm Desert, CA 92260

Raulee Marcus

3335 Highland Avenue

Hermosa Beach, CA 90254

Kenneth I. Brody, Ph.D.

1011 Amalfi Drive

Pacific Palisades, CA 90272

L. Ried Schott Trust dtd 8/13/97

L. Ried Schott TTEE

225 31st Place

Manhattan Beach, CA 90266

Avalon Investments, LLC

P.O. Box 41-B

305 East Bay Front

Newport Beach, CA 92662

Ellen Olivier de Vezia

30765 Pacific Coast Highway #110

Malibu, CA 90265

Barbara Tomash

787 Ensenada Avenue

Berkeley, CA 94707

Holly Family 1989 Trust

James H. Holly, TTEE

6512 Nancy Road

Rancho Palos Verdes, CA 90275

 

 

Name and Address of Holder

Larry M. & Virginia A. Daines Trust dated Dec.
15, 2000

Larry M. Daines, TTEE

622 Gloria Road

Arcadia, CA 91006

Maryann O’Donnell

1896 Rising Glen Road

Los Angeles, CA 90069

Michael J. Napoli Jr.

939 N. Palm Avenue #301

W. Hollywood, CA 90069

The Ben-Barak 1990 Family Trust

Y. Ben Barak, Trustee

8 Cottoncloud

Irvine, CA 92614

Mary Ann Wenger

Samuel Graves Pierce

180 Montrose Road

Berkeley, CA 94707

Douglas Runing DeWitt

5485 Gardendale Street

South Gate, CA 90280

Edward Holden DeWitt

P.O. Box 1932

South Gate, CA 90280

William Holliday DeWitt, II

P.O. Box 1521

South Gate, CA 90280

Mark Gilder

8383 Wilshire Boulevard, # 240

Beverly Hills, CA 90211

Judith S. Diffenbaugh

Mount Madonna Center

445 Summit Road

Watsonville, CA 95076

Colin Phillips

9 Waverly Court

Houston, TX 77005

The Pacific Group Defined Benefit Trust

632 Via del Monte

Palos Verdes Estates, CA 90274

Pickar Investments, Ltd.

11 Bowie Road

Rolling Hills, CA 90274

Warren and Sharon Hanselman, JTWROS

31862 Paseo Terraza

San Juan Capistrano, CA 92675

 

 

Name and Address of Holder

Kenneth D. Leiter

147 Minges Hills Drive

Battle Creek, MI 49015

Stephen M. Greenberg

1003 Ash Drive

Mahwah, NJ 07430-2337

The Greenleaf Family Trust dated Mary 16, 1999

624 Winston Ave.

San Marino, CA 91108

Gold Hill Venture Lending 03, LP

3003 Tasman Drive, HA 200

Santa Clara, CA 95054

Attn: Robert Helm

PayPal, Inc.

2211 North First Street

San Jose, California 95131

Wal-Mart Stores, Inc.

702 S.W. Eighth Street

Bentonville, AR 72716

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