Document:

EX-10.3

 Exhibit 10.3 

REGISTRATION RIGHTS AGREEMENT 

THIS REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made as of the
21st day of January, 2014, by and among Overland Storage, Inc., a California corporation (the “Company”) and FBC Holdings S.à.r.l., a private limited liability company
(société à responsabilité limitée) incorporated under the laws of the Grand Duchy of Luxembourg(together with any permitted assignees under Section 9, the “Shareholder”). 

WITNESSETH 
 WHEREAS, the
Company, the Shareholder and Cyrus Capital Partners, L.P. are parties to that certain Acquisition Agreement dated as of November 1, 2013 (the “Acquisition Agreement”), pursuant to which, among other things, the Company will
issue to the Shareholder at the Closing (as defined in the Acquisition Agreement) 47,152,630 shares of common stock, no par value, of the Company (the “Registrable Shares”) on the date hereof; and 

WHEREAS, the obligations of the Company and the Shareholder under the Acquisition Agreement are conditioned, among other things, upon the
execution and delivery of this Agreement by the Shareholder and the Company. 
 NOW, THEREFORE, in consideration of these premises and for
other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

1. Definitions. For purposes of this Agreement: 

(a) The term “1934 Act” means the Securities Exchange Act of 1934, as amended. 

(b) The term “Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder, as the
same may be amended from time to time. 
 (c) The term “Form S-4” means such form under the Act as in effect on the date
hereof or any successor registration form under the Act subsequently adopted by the SEC. 
 (d) The term “Form S-8” means
such form under the Act as in effect on the date hereof or any successor registration form under the Act subsequently adopted by the SEC. 

(e) The terms “register,” “registered,” and “registration” refer to a registration effected
by preparing and filing a registration statement or similar document in compliance with the Act, and the declaration or ordering of effectiveness of such registration statement or document. 

(f) The term “Rule 144” shall mean Rule 144 under the Act. 

(g) The term “SEC” shall mean the Securities and Exchange Commission. 

 (h) The term “securities” means “securities” as defined in
Section 2(a)(1) of the Act and includes, with respect to any person, such person’s capital stock or other equity interests or any options, warrants or other securities that are directly or indirectly convertible into, or exercisable or
exchangeable for, such person’s capital stock. 
 2. Company Registration. 

(a) If (but without any obligation to do so) the Company proposes to register any of its securities under the Act in connection with the public
offering of such securities (other than a registration relating solely to the sale of securities of participants in a Company stock plan, a registration effected on Form S-4 or Form S-8, and any registration pursuant to any registration statement
that has been declared effective on or prior to the date hereof together with any post-effective amendments or supplements thereto (other than such a registration statement pertaining to shares held by a Shareholder or its Affiliates), the Company
shall, at such time, give each Shareholder written notice of such registration. Upon the written request of each Shareholder given within ten (10) Business Days after delivery of such notice by the Company in accordance with Section 12
(which request shall specify the number of Registrable Shares proposed to be included in such registration), the Company shall, subject to the provisions of Section 2(c), use its commercially reasonable efforts to cause to be registered under
the Act all such Registrable Shares requested to be included in such registration to be included on the same terms and conditions as the securities otherwise being sold by the Company in such registration. 

(b) The Company shall have the right to terminate or withdraw any registration initiated by it under this Section 2 prior to the
effectiveness of such registration, or to terminate the effectiveness of any such registration, whether or not any Shareholder has elected to include Registrable Shares in such registration. The expenses of such withdrawn registration shall be borne
by the Company in accordance with Section 5 hereof. 
 (c) In connection with any offering involving an underwriting of shares of
the Company’s capital stock, the Company shall not be required under this Section 2 to include the Shareholder’s securities in such underwriting unless the Shareholder accepts the terms of the underwriting as reasonably agreed
upon between the Company and the underwriters selected by the Company (or by other persons entitled to select the underwriters) and enter into an underwriting agreement in customary form with such underwriters, and then only in such quantity as the
underwriters determine in their sole discretion will not jeopardize the success of the offering by the Company. If the total amount of securities, including Registrable Shares, requested by shareholders to be included in such offering exceeds the
amount of securities sold other than by the Company that the underwriters determine in their sole discretion is compatible with the success of the offering, then the Company shall be required to include in the offering only that number of such
securities, including Registrable Shares, that the underwriters determine in their sole discretion will not jeopardize the success of the offering. In no event shall any Registrable Shares be excluded from such offering unless all other
shareholders’ securities (other than Registrable Shares) have been first excluded. 
 (d) In the event that less than all of the
Registrable Shares requested to be registered can be included in such offering, then the number of Registrable Shares included in 

  
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the offering shall equal the total number of Registrable Shares included in the offering, as determined pursuant to the immediately preceding paragraph, multiplied by a fraction (i) the
numerator of which is the number of Registrable Shares then held by Shareholder requesting to include Registrable Shares in the offering and (ii) the denominator of which is the sum of the number of Registrable Shares then held by Shareholder
requesting to include Registrable Shares in the offering. The number of Registrable Shares included in the offering pursuant to the immediately preceding sentence shall be apportioned pro rata among the selling Shareholder based on the number of
Registrable Shares held by the selling Shareholder or in such other proportions as shall mutually be agreed to by all such selling Shareholder. For purposes of the preceding sentence concerning apportionment, for any selling shareholder that is a
Shareholder holding Registrable Shares and that is a partnership or limited liability company, the partners and members of such Shareholder, or the estates and family members of any such partners and members and any trusts for the benefit of any of
the foregoing persons shall be deemed to be a single “selling Shareholder,” and any pro rata reduction with respect to such “selling Shareholder” shall be based upon the aggregate amount of Registrable Shares owned by all such
related entities and individuals. 
 3. Obligations of the Company. Whenever required under Section 2 to effect the
registration of any Registrable Shares, except as otherwise expressly provided herein, the Company shall, as expeditiously as reasonably possible: 

(a) prepare and file with the SEC such amendments and supplements to the registration statement and the prospectus used in connection with such
registration statement as may be necessary to comply with the provisions of the Act with respect to the disposition of all securities covered by such registration statement and provide copies to and permit counsel designated by the Shareholder to
review each Registration Statement and all amendments and supplements thereto no fewer than five (5) days prior to their filing with the SEC and not file any document to which such counsel reasonably objects; 

(b) furnish to the Shareholder such number of copies of a prospectus, including a preliminary prospectus, in conformity with the requirements
of the Act, and such other documents as they may reasonably request in order to facilitate the disposition of Registrable Shares owned by them; 

(c) use its commercially reasonable efforts to register and qualify the securities covered by such registration statement under such other
securities or Blue Sky laws of such jurisdictions as shall be reasonably requested by the Shareholder, provided that the Company shall not be required in connection therewith or as a condition thereto to qualify to do business or to file a general
consent to service of process in any such states or jurisdictions; 
 (d) 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; 
 (e)
notify each Shareholder of Registrable Shares covered by such registration statement at any time when a prospectus relating thereto is required to be delivered under the Act 

  
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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 and promptly prepare, file with the SEC and furnish to each Shareholder a supplement to or an
amendment of such prospectus as may be necessary so that such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not
misleading in light of the circumstances then existing; 
 (f) cause all such Registrable Shares registered pursuant to Section 2
to be listed on each securities exchange and trading system on which similar securities issued by the Company are then listed; and 
 (g)
provide a transfer agent and registrar (which may be the same entity) 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.

 Notwithstanding the provisions of this Agreement, the Company shall be entitled to postpone or suspend the filing, effectiveness or use
of, or trading under, any registration statement at any time and for any reason or no reason. 
 4. Information from Shareholder. It
shall be a condition precedent to the obligations of the Company to take any action pursuant to Section 2 with respect to the Registrable Shares of any selling Shareholder that such Shareholder shall furnish to the Company such
information regarding itself, the Registrable Shares held by it, and the intended method of disposition of such securities as shall be reasonably required to effect the registration of such Shareholder’s Registrable Shares. 

5. Expenses of Registration. All expenses (other than (i) underwriting discounts and commissions relating to the Registrable
Shares that are being sold by the Shareholder and (ii) fees of any counsel for the selling Shareholder) that are incurred in connection with registrations, filings or qualifications pursuant to Section 2, including (without
limitation) all registration, filing and qualification fees, printers’ and accounting fees, fees and disbursements of counsel for the Company shall be borne by the Company. 

6. Delay of Registration. No Shareholder shall have any right to obtain or seek an injunction restraining or otherwise delaying any
such registration as the result of any controversy that might arise with respect to the interpretation or implementation of this Agreement. 

7. Indemnification. In the event any Registrable Shares are included in a registration statement under this Agreement: 

(a) To the extent permitted by law, the Company will indemnify and hold harmless each Shareholder, the partners, officers, directors and
shareholders of each Shareholder, legal counsel and accountants for each Shareholder, any underwriter (as defined in the Act) for such Shareholder and each person, if any, who controls such Shareholder or underwriter within

  
 4 

 
the meaning of the Act or the 1934 Act, against any losses, claims, damages or liabilities (joint or several) to which they may become subject under the Act, the 1934 Act, any state securities
laws or any rule or regulation promulgated under the Act, the 1934 Act or any state securities laws, insofar as such losses, claims, damages, or liabilities (or actions in respect thereof) arise out of or are based upon any of the following
statements, omissions or violations (collectively a “Violation”): (i) any untrue statement or alleged untrue statement of a material fact contained in such registration statement, including any preliminary prospectus or final
prospectus contained therein or any amendments or supplements thereto, (ii) the omission or alleged omission to state in such registration statement a material fact required to be stated therein, or necessary to make the statements therein not
misleading or (iii) any violation or alleged violation by the Company of the Act, the 1934 Act, any state securities laws or any rule or regulation promulgated under the Act, the 1934 Act or any state securities laws, and the Company will
reimburse each such Shareholder, underwriter, controlling person or other aforementioned person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or
action as such expenses are incurred; provided, however, that the indemnity agreement contained in this Section 7(a) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action if such
settlement is effected without the consent of the Company (which consent shall not be unreasonably withheld), nor shall the Company be liable to a person claiming indemnification in any such case for any such loss, claim, damage, liability or action
to the extent that it arises out of or is based upon a Violation that occurs in reliance upon and in conformity with written information furnished expressly for use in connection with such registration by such Shareholder, underwriter, controlling
person or other aforementioned person that is claiming indemnification. 
 (b) To the extent permitted by law, each selling Shareholder will,
severally and not jointly, indemnify and hold harmless the Company, each of its directors, each of its officers who has signed the registration statement, each person, if any, who controls the Company within the meaning of the Act, legal counsel and
accountants for the Company, any underwriter, any other Shareholder selling securities in such registration statement and any controlling person of any such underwriter or other Shareholder, against any losses, claims, damages or liabilities (joint
or several) to which any of the foregoing persons may become subject, under the Act, the 1934 Act, any state securities laws or any rule or regulation promulgated under the Act, the 1934 Act or any state securities laws, insofar as such losses,
claims, damages or liabilities (or actions in respect thereto) arise out of or are based upon any Violation, in each case to the extent (and only to the extent) that such Violation occurs in reliance upon and in conformity with written information
furnished by such Shareholder expressly for use in connection with such registration; and each such Shareholder will reimburse any person intended to be indemnified pursuant to this Section 7(b) for any legal or other expenses reasonably
incurred by such person in connection with investigating or defending any such loss, claim, damage, liability or action as such expenses are incurred; provided, however, that the indemnity agreement contained in this Section 7(b) shall
not apply to amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected without the consent of the Shareholder (which consent shall not be unreasonably withheld), and provided that in no event
shall any indemnity under this Section 7(b) exceed the net proceeds from the offering received by such Shareholder. 

  
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 (c) Promptly after receipt by an indemnified party under this Section 7 of notice of
the commencement of any action (including any governmental action), such indemnified party will, if a claim in respect thereof is to be made against any indemnifying party under this Section 7, deliver to the indemnifying party a written
notice of the commencement thereof and the indemnifying party shall have the right to participate in and, to the extent the indemnifying party so desires, jointly with any other indemnifying party similarly noticed, to assume the defense thereof
with counsel mutually satisfactory to the parties; provided, however, that an indemnified party (together with all other indemnified parties that may be represented without conflict by one counsel) shall have the right to retain one separate
counsel, with the fees and expenses to be paid by the indemnifying party, if representation of such indemnified party by the counsel retained by the indemnifying party would be inappropriate due to actual or potential differing interests between
such indemnified party and any other party represented by such counsel in such proceeding. The failure to deliver written notice to the indemnifying party within a reasonable time of the commencement of any such action, if prejudicial to its ability
to defend such action, shall relieve such indemnifying party of liability to the indemnified party under this Section 7 to the extent of such prejudice, but the omission to so deliver written notice to the indemnifying party will not
relieve it of any liability that it may have to any indemnified party otherwise than under this Section 7. 
 (d) If the
indemnification provided for in this Section 7 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 herein, 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 the indemnified party on the other hand 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; provided, however, that no contribution by any Shareholder, when combined with any amounts paid by such Shareholder pursuant to Section 7(b), shall exceed the net proceeds from the offering received by such
Shareholder. The relative fault of the indemnifying party and 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 or alleged 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 omission.

 (e) Notwithstanding the foregoing, to the extent that the provisions on indemnification and contribution contained in the underwriting
agreement entered into by any Shareholder claiming indemnification in connection with an underwritten public offering are in conflict with the foregoing provisions, the provisions in the underwriting agreement shall control with respect to such
Shareholder. 
 (f) The obligations of the Company and Shareholder under this Section 7 shall survive the completion of any
offering of Registrable Shares in a registration statement under this Agreement or otherwise. 

  
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 8. Reports Under the 1934 Act. With a view to making available to the Shareholder the
benefits of Rule 144 and any other rule or regulation of the SEC that may at any time permit the Shareholder to sell securities of the Company to the public without registration, the Company agrees, to: 

(a) make and keep public information available, as those terms are understood and defined in Rule 144; 

(b) file with the SEC in a timely manner all reports and other documents required of the Company under the Act and the 1934 Act after the date
hereof; 
 (c) furnish to any Shareholder, so long as the Shareholder owns any Registrable Shares, forthwith upon request (i) a written
statement by the Company that it has complied with the reporting requirements of Rule 144, (ii) a copy of the most recent annual or quarterly report of the Company and such other reports and documents so filed by the Company, and
(iii) such other information as may be reasonably requested to avail any Shareholder of any rule or regulation of the SEC that permits the selling of any such securities without registration. 

9. Assignment of Registration Rights. The rights to cause the Company to register Registrable Shares pursuant to this Agreement may be
assigned (but only with all related obligations) by a Shareholder to any transferee or assignee of such Registrable Shares; provided that: (a) prior to such transfer the Company is furnished with written notice of the name and address of
such transferee or assignee and the securities with respect to which such registration rights are being assigned; and (b) prior to such transfer such transferee or assignee agrees in writing to be bound by and subject to the terms and
conditions of this Agreement pursuant to an agreement reasonably acceptable to the Company. Any permitted assignee under this Section 9 shall, after the effective date of such assignment, be deemed a “Shareholder” under this
Agreement. 
 10. Termination of Registration Rights. No Shareholder shall be entitled to exercise any right provided for in this
Agreement (i) as to any Shareholder, such earlier time after the date of this Agreement during which such Shareholder (A) can sell all shares held by it in compliance with Rule 144 and without restriction thereunder (including any
restrictions imposed on affiliates of the issuer) or (B) holds one percent (1%) or less of the Company’s outstanding Common Stock and all Registrable Shares held by such Shareholder (together with any affiliate of the Shareholder with
whom such Shareholder must aggregate its sales under Rule 144) can be sold in any three (3) month period without registration in compliance with Rule 144 and without restriction thereunder or (ii) after such time at which such Shareholder
receives freely-tradable securities in connection with any consolidation, reorganization or merger of the Company with or into any other corporation or corporations or a sale, conveyance, or other disposition of all or substantially all of the
Company’s property or business. 
 11. Successors and Assigns. Except as otherwise provided herein, the terms and conditions of
this Agreement shall inure to the benefit of and be binding upon the respective successors and assigns of the parties. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their
respective successors and assigns 

  
 7 

 
any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement. 

12. Notices. All notices and other communications required or permitted under this Agreement shall be in writing and shall be either
hand delivered in person, sent by facsimile, sent by electronic mail, sent by certified or registered first-class mail, postage pre-paid, or sent by nationally recognized express courier service. Such notices and other communications shall be
effective upon receipt if hand delivered or sent by facsimile or electronic mail, three (3) business days after mailing if sent by mail, and one (1) business day after dispatch if sent by next-day courier service, to the following
addresses, or such other addresses as any party may notify the other parties in accordance with this Section 12: 
 If to the
Company: 
 Overland Storage, Inc. 

9112 Spectrum Center Boulevard 

San Diego, CA 92123 
 Attention:
Eric L. Kelly, Chief Executive Officer 
 Facsimile: +1 (858) 495 4267 

with a copy (which shall not constitute notice) to: 

O’Melveny & Myers LLP 

2765 Sand Hill Road 
 Menlo Park,
CA 95014 
 Attention: Steven Tonsfeldt, Esq. 

                Paul L. Sieben, Esq. 

Facsimile: +1 (650) 473-2601 

If to the Shareholder: 
 FBC
Holdings S.à r.l. 
 46A, avenue J.F. Kennedy 

L-1855 Luxembourg 
 Grand Duchy of
Luxembourg 
 Attention:        The Managers 

Telephone:      +352 42 71711 

Facsimile:        +352 42 1961 

with a copy (which shall not constitute notice) to: 

Reed Smith LLP 
 The Broadgate
Tower 
 20 Primrose Street 

London EC2A 2RS 

Attention:        Georgia M. Quenby 

  
 8 

 Fax No.:        +44 20 3116 3999 

13. Governing Law. The internal laws of the State of California, irrespective of its conflicts of law principles, shall govern the
validity of this Agreement, the construction of its terms, and the interpretation and enforcement of the rights and duties of the parties hereto. 

14. Specific Enforcement. Each party hereto agrees that its obligations hereunder are necessary and reasonable to protect the other
parties to this Agreement, and each party expressly agrees and understands that monetary damages would inadequately compensate an injured party for the breach of this Agreement by any party, that this Agreement shall be specifically enforceable, and
that, in addition to any other remedies that may be available at law, in equity or otherwise, any breach or threatened breach of this Agreement shall be the proper subject of a temporary or permanent injunction or restraining order, without the
necessity of proving actual damages. Further, each party hereto waives any claim or defense that there is an adequate remedy at law for such breach or threatened breach. 

15. Attorneys’ Fees. If any action at law or in equity is necessary to enforce or interpret the terms of this Agreement, the
prevailing party shall be entitled to reasonable attorneys’ fees, costs and necessary disbursements in addition to any other relief to which such party may be entitled. 

16. Titles and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in
construing or interpreting this Agreement. 
 17. Entire Agreement. This Agreement constitutes the full and entire understanding and
agreement among the parties with regard to the subjects hereof and no party shall be liable or bound to any other in any manner by any oral or written representations, warranties, covenants and agreements except as specifically set forth herein.
Each party expressly represents and warrants that it is not relying on any oral or written representations, warranties, covenants or agreements outside of this Agreement. 

18. Amendments and Waivers. Any term hereof may be amended and the observance of any term hereof may be waived (either generally or in
a particular instance and either retroactively or prospectively) only with the written consent of (a) the Company and (b) the holders of a majority of the Registrable Shares. 

19. Enforceability/Severability. The parties hereto agree that each provision of this Agreement shall be interpreted in such a manner
as to be effective and valid under applicable law. If any provision of this Agreement shall nevertheless be held to be prohibited by or invalid under applicable law, (a) such provision shall be invalid only to the extent of such prohibition or
invalidity, without invalidating the remainder of such provision or the remaining provisions of this Agreement and (b) the parties shall, to the extent permissible by applicable law, amend this Agreement so as to make effective and enforceable
the intent of this Agreement. 
 20. Counterparts. This Agreement may be executed in two or more counterparts, each

  
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of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 

[Signature Page Follows] 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year
hereinabove first written. 
  

			
	COMPANY:
	
	OVERLAND STORAGE, INC.
		
	By:	 	/s/ Eric. L. Kelly
	Name: Eric L. Kelly
	Title: President and Chief Executive Officer

 [SIGNATURE PAGE TO REGISTRATION
RIGHTS AGREEMENT] 

 
	
	SHAREHOLDER:
	
	FBC HOLDINGS S.À R.L.
	
	/s/ Fabrice Rota
	Name: Manacor (Luxembourg) S.A.
	Title: Manager A
	
	/s/ James H. Tucker
	Name: Cyrus Capital Partners, L.P.
	Title: Manager B

 [SIGNATURE PAGE TO REGISTRATION
RIGHTS AGREEMENT]EX-10.4

 Exhibit 10.4 

OVERLAND STORAGE, INC. 

2009 EQUITY INCENTIVE PLAN 

(AS AMENDED EFFECTIVE AUGUST 8, 2011) 

(All share numbers herein are presented after giving effect to 

the Company’s December 2009 1-for-3 reverse stock
split) 
  
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
			
	ARTICLE 1	 	 INTRODUCTION
	  	 	1	  
			
	ARTICLE 2	 	 ADMINISTRATION
	  	 	1	  
	 2.1
	 	 Committee Composition
	  	 	1	  
	 2.2
	 	 Committee Authority
	  	 	1	  
	 2.3
	 	 Committee for Non-Officer Grants
	  	 	1	  
	 2.4
	 	 Scope of Discretion
	  	 	1	  
	 2.5
	 	 Rules of Interpretation
	  	 	2	  
	 2.6
	 	 Unfunded Plan
	  	 	2	  
	 2.7
	 	 Limitation of Liability
	  	 	2	  
	 2.8
	 	 Electronic Communications
	  	 	2	  
	 2.9
	 	 Indemnification
	  	 	2	  
	 2.10
	 	 Suspension or Termination of Awards
	  	 	3	  
	 2.11
	 	 Clawback Policy
	  	 	3	  
			
	ARTICLE 3	 	 SHARES AVAILABLE FOR GRANTS
	  	 	3	  
	 3.1
	 	 Basic Limitation
	  	 	3	  
	 3.2
	 	 Dividend Equivalents
	  	 	3	  
	 3.3
	 	 Share Utilization
	  	 	3	  
			
	ARTICLE 4	 	 ELIGIBILITY
	  	 	3	  
	 4.1
	 	 Incentive Stock Options
	  	 	3	  
	 4.2
	 	 Other Grants
	  	 	4	  
	 4.3
	 	 Section 162(m) Limitation
	  	 	4	  
			
	ARTICLE 5	 	 OPTIONS
	  	 	4	  
	 5.1
	 	 Stock Option Agreement
	  	 	4	  
	 5.2
	 	 Number of Shares
	  	 	4	  
	 5.3
	 	 Exercise Price
	  	 	4	  
	 5.4
	 	 Exercisability and Term
	  	 	4	  
	 5.5
	 	 Effect of Change in Control
	  	 	5	  
	 5.6
	 	 Nonassignability of Options
	  	 	5	  
	 5.7
	 	 Substitute Options
	  	 	5	  
	 5.8
	 	 Limitation on ISOs
	  	 	5	  
			
	ARTICLE 6	 	 PAYMENT FOR OPTION SHARES
	  	 	5	  
	 6.1
	 	 General Rule
	  	 	5	  
	 6.2
	 	 Exercise/Sale
	  	 	5	  
	 6.3
	 	 Other Forms of Payment
	  	 	5	  
			
	ARTICLE 7	 	 STOCK APPRECIATION RIGHTS
	  	 	6	  
	 7.1
	 	 SAR Agreement
	  	 	6	  
	 7.2
	 	 Number of Shares
	  	 	6	  
	 7.3
	 	 Exercise Price
	  	 	6	  
	 7.4
	 	 Exercisability and Term
	  	 	6	  
	 7.5
	 	 Effect of Change in Control
	  	 	6	  
	 7.6
	 	 Exercise of SARs
	  	 	6	  
	 7.7
	 	 Nonassignability of SARs
	  	 	6	  
	 7.8
	 	 Substitute SARs
	  	 	6	  

  
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	ARTICLE 8	 	 RESTRICTED SHARES
	  	 	7	  
	 8.1
	 	 Restricted Stock Agreement
	  	 	7	  
	 8.2
	 	 Payment for Awards
	  	 	7	  
	 8.3
	 	 Vesting Conditions
	  	 	7	  
	 8.4
	 	 Voting and Dividend Rights
	  	 	7	  
	 8.5
	 	 Nonassignability of Restricted Shares
	  	 	7	  
	 8.6
	 	 Substitute Restricted Shares
	  	 	7	  
	 8.7
	 	 Section 162(m) Limitation
	  	 	8	  
			
	ARTICLE 9	 	 STOCK UNITS
	  	 	8	  
	 9.1
	 	 Stock Unit Agreement
	  	 	8	  
	 9.2
	 	 Payment for Awards
	  	 	8	  
	 9.3
	 	 Vesting Conditions
	  	 	8	  
	 9.4
	 	 Voting and Dividend Rights
	  	 	8	  
	 9.5
	 	 Form and Time of Settlement of Stock Units
	  	 	8	  
	 9.6
	 	 Death of Recipient
	  	 	8	  
	 9.7
	 	 Creditors’ Rights
	  	 	9	  
	 9.8
	 	 Nonassignability of Stock Units
	  	 	9	  
	 9.9
	 	 Substitute Stock Units
	  	 	9	  
	 9.10
	 	 Section 162(m) Limitation
	  	 	9	  
			
	ARTICLE 10	 	 PROTECTION AGAINST DILUTION
	  	 	9	  
	 10.1
	 	 Adjustments
	  	 	9	  
	 10.2
	 	 Dissolution or Liquidation
	  	 	10	  
	 10.3
	 	 Reorganizations
	  	 	10	  
			
	ARTICLE 11	 	 DEFERRAL OF AWARDS
	  	 	10	  
			
	ARTICLE 12	 	 AWARDS UNDER OTHER PLANS
	  	 	11	  
			
	ARTICLE 13	 	 PAYMENT OF DIRECTORS’ FEES IN SECURITIES
	  	 	11	  
	 13.1
	 	 Effective Date
	  	 	11	  
	 13.2
	 	 Elections to Receive NSOs, Restricted Shares or Stock Units
	  	 	11	  
	 13.3
	 	 Number and Terms of NSOs, Restricted Shares or Stock Units
	  	 	11	  
			
	ARTICLE 14	 	 LIMITATION ON RIGHTS
	  	 	11	  
	 14.1
	 	 Retention Rights
	  	 	11	  
	 14.2
	 	 Shareholders’ Rights
	  	 	11	  
	 14.3
	 	 Regulatory Requirements
	  	 	11	  
	 14.4
	 	 Code Section 409A
	  	 	12	  
			
	ARTICLE 15	 	 WITHHOLDING TAXES
	  	 	12	  
	 15.1
	 	 General
	  	 	12	  
	 15.2
	 	 Share Withholding
	  	 	12	  
			
	ARTICLE 16	 	 FUTURE OF THE PLAN
	  	 	12	  
	 16.1
	 	 Term of the Plan
	  	 	12	  
	 16.2
	 	 Amendment or Termination
	  	 	12	  
			
	ARTICLE 17	 	 DEFINITIONS
	  	 	12	  
	 17.1
	 	 “Affiliate”
	  	 	12	  
	 17.2
	 	 “Applicable Law”
	  	 	13	  
	 17.3
	 	 “Award”
	  	 	13	  

  
 ii 

							
	 17.4
	 	 “Board”
	  	 	13	  
	 17.5
	 	 “Cause”
	  	 	13	  
	 17.6
	 	 “Change in Control”
	  	 	13	  
	 17.7
	 	 “Code”
	  	 	14	  
	 17.8
	 	 “Committee”
	  	 	14	  
	 17.9
	 	 “Common Share”
	  	 	14	  
	 17.10
	 	 “Company”
	  	 	14	  
	 17.11
	 	 “Consultant”
	  	 	14	  
	 17.12
	 	 “Continuing Directors”
	  	 	14	  
	 17.13
	 	 “Delay In Payments to Specified Employees”
	  	 	14	  
	 17.14
	 	 “Director”
	  	 	14	  
	 17.15
	 	 “Disability”
	  	 	14	  
	 17.16
	 	 “Divestiture”
	  	 	14	  
	 17.17
	 	 “Domestic Relations Order”
	  	 	14	  
	 17.18
	 	 “Effective Date”
	  	 	14	  
	 17.19
	 	 “Employee”
	  	 	14	  
	 17.20
	 	 “Exchange Act”
	  	 	15	  
	 17.21
	 	 “Exercise Price,”
	  	 	15	  
	 17.22
	 	 “Fair Market Value”
	  	 	15	  
	 17.23
	 	 “Fiscal Year”
	  	 	15	  
	 17.24
	 	 “Involuntary Termination”
	  	 	15	  
	 17.25
	 	 “ISO”
	  	 	15	  
	 17.26
	 	 “NSO”
	  	 	15	  
	 17.27
	 	 “Objectively Determinable Performance Condition”
	  	 	15	  
	 17.28
	 	 “Officer”
	  	 	16	  
	 17.29
	 	 “Option”
	  	 	16	  
	 17.30
	 	 “Optionee”
	  	 	16	  
	 17.31
	 	 “Outside Director”
	  	 	16	  
	 17.32
	 	 “Parent”
	  	 	16	  
	 17.33
	 	 “Participant”
	  	 	16	  
	 17.34
	 	 “Plan”
	  	 	16	  
	 17.35
	 	 “Prior Plans”
	  	 	16	  
	 17.36
	 	 “Restricted Share”
	  	 	16	  
	 17.37
	 	 “Restricted Stock Agreement”
	  	 	16	  
	 17.38
	 	 “SAR”
	  	 	16	  
	 17.39
	 	 “SAR Agreement”
	  	 	17	  
	 17.40
	 	 “Service”
	  	 	17	  
	 17.41
	 	 “Shareholder Approval Date”
	  	 	17	  
	 17.42
	 	 “Stock Option Agreement”
	  	 	17	  
	 17.43
	 	 “Stock Unit”
	  	 	17	  
	 17.44
	 	 “Stock Unit Agreement”
	  	 	17	  
	 17.45
	 	 “Subsidiary”
	  	 	17	  
	 17.46
	 	 “Substitute Award”
	  	 	17	  
	 17.47
	 	 “Substitute Option”
	  	 	17	  
	 17.48
	 	 “Substitute SAR”
	  	 	17	  
	 17.49
	 	 “Substitute Restricted Share”
	  	 	17	  
	 17.50
	 	 “Substitute Stock Unit”
	  	 	17	  
	 17.51
	 	 “Ten Percent Shareholder”
	  	 	17	  

  
 iii 

 Overland Storage, Inc. 

2009 Equity Incentive Plan 
 
ARTICLE 1    INTRODUCTION. 
 The Board adopted the Plan effective as of the Effective Date conditioned upon
and subject to approval by the Company’s shareholders on or before the first anniversary of the Effective Date. The purpose of the Plan is to promote the long-term success of the Company and the creation of shareholder value by
(a) encouraging Employees, Outside Directors and Consultants to focus on critical long-range objectives, (b) encouraging the attraction and retention of Employees, Outside Directors and Consultants with exceptional qualifications and
(c) linking Employees, Outside Directors and Consultants directly to shareholder interests through increased stock ownership. The Plan seeks to achieve this purpose by providing for Awards in the form of Restricted Shares, Stock Units, Options
(which may constitute incentive stock options or nonstatutory stock options) or stock appreciation rights. 
 The Plan shall be governed by,
and construed in accordance with, the laws of the State of California (except its choice-of-law provisions). 

ARTICLE 2    ADMINISTRATION. 

2.1 Committee Composition. The Committee shall administer the Plan. The Committee shall consist
exclusively of two or more Directors of the Company, who shall be appointed by the Board. In addition, the composition of the Committee shall satisfy: 

(a) Such requirements as the Securities and Exchange Commission may establish for administrators acting under plans intended to qualify for
exemption under Rule 16b-3 (or its successor) under the Exchange Act; and 
 (b) Such requirements as
the Internal Revenue Service may establish for outside directors acting under plans intended to qualify for exemption under section 162(m)(4)(C) of the Code. 

2.2 Committee Authority. Subject to the specific provisions and limitations of the Plan, and
Applicable Law, the Committee shall have the authority and power to (a) select the Employees, Outside Directors and Consultants who are to receive Awards under the Plan, (b) determine the type, number, vesting requirements, performance
conditions (if any) and their degree of satisfaction, and other features and conditions of such Awards, (c) correct any defect, supply any omission, and reconcile any inconsistency in the Plan or any Award agreement, (d) accelerate the
vesting, or extend the post-termination exercise term, or waive restrictions, of Awards at any time and under such terms and conditions as it deems appropriate, (e) interpret the Plan and any Award agreements, (f) adopt such plans or
subplans as may be deemed necessary or appropriate to provide for the participation by non-U.S. employees of the Company and its Subsidiaries and Affiliates, which plans and/or subplans shall be attached
hereto as appendices, and (g) make all other decisions relating to the operation of the Plan. The Committee may adopt such rules or guidelines as it deems appropriate to implement the Plan. 

2.3 Committee for Non-Officer Grants. The Board may also
appoint a secondary committee of the Board, which shall be composed of two or more Directors of the Company who need not satisfy the requirements of Sections 2.1(a) and 2.1(b). Such secondary committee may administer the Plan with respect to
Employees and Consultants who are not Officers or Directors of the Company, may grant Awards under the Plan to such Employees and Consultants and may determine all features and conditions of such Awards. Within the limitations of this
Section 2.3, any reference in the Plan to the Committee shall include such secondary committee. 

2.4 Scope of Discretion. On all matters for which the Plan confers the authority, right or power
on the Board, the Committee, or a secondary committee to make decisions, that body may make those decisions in its 

  
 1 

 
sole and absolute discretion. Those decisions will be final, binding and conclusive and shall be afforded the maximum deference under Applicable Law. In making its decisions, the Board, Committee
or secondary committee need not treat all persons eligible to receive Awards, all Participants, or all Awards the same way. Notwithstanding anything herein to the contrary, and except as provided in Section 16.2, the discretion of the Board,
Committee or secondary committee is subject to the specific provisions and specific limitations of the Plan, as well as all rights conferred on specific Participants by Award agreements and other agreements entered into pursuant to the Plan. 

2.5 Rules of Interpretation. Any reference to a “Section” or “Article,”
without more, is to a Section or Article of the Plan. Captions and titles are used for convenience in the Plan and shall not, by themselves, determine the meaning of the Plan. Except when otherwise indicated by the context, the singular includes the
plural and vice versa. Any reference to a statute is also a reference to the applicable rules and regulations adopted under that statute. Any reference to a statute, rule or regulation, or to a section of a statute, rule or regulation, is a
reference to that statute, rule, regulation, or section as amended from time to time, both before and after the Effective Date and including any successor provisions. 

2.6 Unfunded Plan. The Plan shall be unfunded. Although bookkeeping accounts may be established
with respect to Participants, any such accounts will be used merely as a convenience. The Company shall not be required to segregate any assets on account of the Plan, the grant of Awards, or the issuance of Common Shares. The Company and the
Committee shall not be deemed to be a trustee of stock or cash to be awarded under the Plan. Any obligations of the Company to any Participant shall be based solely upon contracts entered into under the Plan. No such obligations shall be deemed to
be secured by any pledge or other encumbrance on any assets of the Company. Neither the Company nor the Committee shall be required to give any security or bond for the performance of any such obligations. 

2.7 Limitation of Liability. The Company (or members of the Board, Committee or secondary
committee) shall not be liable to a Participant or other persons as to: (i) the non-issuance or sale of Common Shares as to which the Company has been unable to obtain from any regulatory body having
jurisdiction the authority deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any Common Shares hereunder; and (ii) any unexpected or adverse tax consequence realized by any Participant or other person due
to the grant, receipt, exercise or settlement of any Award granted hereunder. 
 2.8 Electronic
Communications. Subject to compliance with Applicable Law and/or regulations, an Award agreement or other documentation or notices relating to the Plan and/or Awards may be communicated to Participants by electronic media. 

2.9 Indemnification. To the maximum extent permitted by applicable law, each member of the
Committee, or of the Board, or any persons (including without limitation Employees and Officers) who are delegated by the Board or Committee to perform administrative functions in connection with the Plan, shall be indemnified and held harmless by
the Company against and from (i) any loss, cost, liability, or expense that may be imposed upon or reasonably incurred by him or her in connection with or resulting from any claim, action, suit, or proceeding to which he or she may be a party
or in which he or she may be involved by reason of any action taken or failure to act under the Plan or any Award agreement, and (ii) from any and all amounts paid by him or her in settlement thereof, with the Company’s approval, or paid
by him or her in satisfaction of any judgment in any such claim, action, suit, or proceeding against him or her, provided he or she shall give the Company an opportunity, at its own expense, to handle and defend the same before he or she undertakes
to handle and defend it on his or her own behalf. The foregoing right of indemnification shall not be exclusive of any other rights of indemnification to which such persons may be entitled under the Company’s Articles of Incorporation or
Bylaws, by contract, as a matter of law, or otherwise, or under any power that the Company may have to indemnify them or hold them harmless. 

  
 2 

 2.10 Suspension or Termination of Awards. If at
any time (including after a notice of exercise has been delivered) the Committee (or the Board), reasonably believes that a Participant has committed an act of Cause (which includes a failure to act), the Committee (or Board) may suspend the
Participant’s right to exercise any Option or SAR (or payment of a Cash Award or vesting of Restricted Stock Grants or Stock Units) pending a determination of whether there was in fact an act of Cause. If the Committee (or the Board) determines
a Participant has committed an act of Cause, neither the Participant nor his or her estate shall be entitled to exercise any outstanding Option or SAR whatsoever and all of Participant’s outstanding Awards shall then terminate without
consideration. Any determination by the Committee (or the Board) with respect to the foregoing shall be final, conclusive and binding on all interested parties. 

2.11 Clawback Policy. The Company may (i) cause the cancellation of any Award,
(ii) require reimbursement of any Award by a Participant and (iii) effect any other right of recoupment of equity or other compensation provided under this Plan or otherwise in accordance with Company policies and/or applicable law (each,
a “Clawback Policy”). In addition, a Participant may be required to repay to the Company certain previously paid compensation, whether provided under this Plan or an Award Agreement or otherwise, in accordance with the Clawback Policy.

 ARTICLE 3    SHARES AVAILABLE FOR GRANTS. 

3.1 Basic Limitation. Common Shares issued pursuant to the Plan shall be authorized but unissued
or reacquired shares. The maximum aggregate number of Common Shares reserved for issuance under the Plan is equal to the sum of: (i) 13,892,815 Common Shares plus (ii) any Common Shares subject to any outstanding awards under the Prior
Plans that on or after the Shareholder Approval Date are either forfeited or are repurchased at original cost by the Company plus any Common Shares that are not issued to the award holder as a result of a Prior Plan outstanding award being exercised
or settled on or after the Shareholder Approval Date for less than the full number of Common Shares that are subject to such exercise or settlement, subject to maximum of 1,404,769 Common Shares for this clause (ii). The aggregate number of Common
Shares that may be issued under the Plan through ISOs is 15,297,584 Common Shares. The limitations of this Section 3.1 shall be subject to adjustment pursuant to Article 10. 

3.2 Dividend Equivalents. Any dividend equivalents paid or credited under the Plan shall not be
applied against the number of Common Shares available for Awards. 
 3.3 Share Utilization. If
Common Shares issued upon the exercise of Options are forfeited, then such Common Shares shall again become available for Awards under the Plan. If Restricted Shares are forfeited, then such Common Shares shall again become available for Awards
under the Plan. If Options or SARs are forfeited or terminate for any other reason before being exercised, then the corresponding Common Shares shall again become available for Awards under the Plan. Subject to Article 12, if Stock Units are
forfeited or terminate for any other reason before being settled, then the corresponding Common Shares shall again become available for Awards under the Plan. Subject to Article 12, if Stock Units are settled, then only the number of Common Shares
(if any) actually issued in settlement of such Stock Units shall reduce the number of Common Shares available under Section 3.1 and the balance shall again become available for Awards under the Plan. If SARs are exercised, then only the number
of Common Shares (if any) actually issued in settlement of such SARs shall reduce the number of Common Shares available under Section 3.1 and the balance shall again become available for Awards under the Plan. The provisions of this
Section 3.3 shall be subject to adjustment pursuant to Article 10. 

ARTICLE 4    ELIGIBILITY. 

4.1 Incentive Stock Options. Only Employees who are
common-law employees of the Company, a Parent or a Subsidiary shall be eligible for the grant of ISOs. 

  
 3 

 4.2 Other Grants. Employees, Outside Directors and
Consultants, including prospective Employees, Directors and Consultants conditioned on the beginning of their Service, shall be eligible for the grant of Restricted Shares, Stock Units, NSOs or SARs. 

4.3 Section 162(m) Limitation. 

(a) Options And SARs. For so long as the Company is a “publicly held corporation” within the meaning of Section 162(m) of
the Code and with respect to grants of Options or SARs that are intended to qualify as performance-based compensation under Code Section 162(m), no Employee may be granted one or more SARs and Options within any Fiscal Year under the Plan to
purchase more than 1,300,000 Common Shares under Options or to receive compensation calculated with reference to more than that number of Common Shares under SARs, with such limit subject to adjustment pursuant to Article 10. If an Option or SAR is
cancelled without being exercised, that cancelled Option or SAR shall continue to be counted against the limit on Options and SARs that may be granted to any individual under this Section 4.3(a). 

(b) Cash Awards And Stock Awards. Any Award intended as “qualified performance-based compensation” within the meaning of
section 162(m) of the Code must vest or become exercisable contingent on the achievement of one or more Objectively Determinable Performance Conditions. The Committee shall have the discretion to determine the time and manner of compliance with
section 162(m) of the Code. 
 ARTICLE 5    OPTIONS. 

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

5.2 Number of Shares. Each Stock Option Agreement shall specify the number of Common Shares
subject to the Option and shall provide for the adjustment of such number in accordance with Article 10. 

5.3 Exercise Price. Each Stock Option Agreement shall specify the Exercise Price; provided that
the Exercise Price under an Option shall in no event be less than 100% of the Fair Market Value of a Common Share on the date of grant (and shall not be less than 110% of the Fair Market Value for an ISO granted to a Ten Percent Shareholder). 

5.4 Exercisability and Term. Each Stock Option Agreement shall specify the date or event when
all or any installment of the Option is to become exercisable. The Stock Option Agreement shall also specify the term of the Option; provided that the term of an Option shall in no event exceed 10 years from the date of grant (and shall not exceed 5
years from the date of an ISO grant for a Ten Percent Shareholder). If an Optionee changes status from an Employee to a Consultant or Outside Director, that Optionee’s ISOs will become NSOs if not exercised within the three-month period
beginning with the Optionee’s termination of Service as an Employee for any reason other than the Optionee’s death or Disability. An ISO shall be treated as an NSO if it remains exercisable after, and is not exercised within, the
three-month period described above. If an Optionee’s Service terminates due to Disability, any ISO held by such Optionee shall be treated as an NSO if it remains exercisable after, and is not exercised within, one year after termination of the
Optionee’s Service. A Stock Option Agreement may provide for accelerated exercisability in the event of the Optionee’s death, Disability or retirement or other events and may provide for expiration prior to the end of its term in the event
of the termination of the Optionee’s Service. Options may be awarded in combination with SARs, and such an Award may provide that the Options will not be exercisable unless the related SARs are forfeited. No Option granted to an individual who
is subject to the overtime pay provisions of the Fair Labor Standards Act may be exercised before the expiration of six months after the Grant Date. 

  
 4 

 5.5 Effect of Change in Control. The Committee may
determine, at the time of granting an Option or thereafter, that such Option shall become exercisable as to all or part of the Common Shares subject to such Option in the event that a Change in Control occurs with respect to the Company or in the
event that the Optionee is subject to an Involuntary Termination after a Change in Control. In addition, acceleration of exercisability may be required under Section 10.3. 

5.6 Nonassignability of Options. Except as determined by the Committee, no Option shall be
assignable or otherwise transferable by the Participant except by will or by the laws of descent and distribution. However, Options may be transferred and exercised in accordance with a Domestic Relations Order and may be exercised by a guardian or
conservator appointed to act for the Participant. No rights under an ISO may be transferred by the Participant, other than to a trust where under section 671 of the Code and other Applicable Law the Participant is considered the sole beneficial
owner of the Option while it is held in trust, or by will or the laws of descent and distribution. The Company’s compliance with a Domestic Relations Order, or the exercise of an ISO by a guardian or conservator appointed to act for the
Participant, shall not violate this Section 5.6. 
 5.7 Substitute Options. The Board
may cause the Company to grant Substitute Options in connection with the acquisition by the Company or a Parent, Subsidiary or Affiliate of equity securities of any entity (including by merger, tender offer, or other similar transaction) or of all
or a portion of the assets of any entity. Any such substitution shall be effective on the effective date of the acquisition. Substitute Options may be NSOs or ISOs. Unless and to the extent specified otherwise by the Board, Substitute Options shall
have the same terms and conditions as the options they replace, except that (subject to the provisions of Article 10) Substitute Options shall be Options to purchase Common Shares rather than equity securities of the granting entity and shall have
an Exercise Price adjusted appropriately, as determined by the Board. 
 5.8 Limitation on
ISOs. Options intended to be ISOs that are granted to any single Optionee under all incentive stock option plans of the Company and its Parents or Subsidiaries, including ISOs granted under the Plan, may not first become exercisable for more
than $100,000 in Fair Market Value of stock (measured on the grant dates of the Options) during any calendar year. 

ARTICLE 6    PAYMENT FOR OPTION SHARES. 

6.1 General Rule. The entire Exercise Price of Common Shares issued upon exercise of Options
shall be payable in cash or cash equivalents denominated in U.S. dollars (except as specified by the Committee for non-U.S. Employees or non-U.S. sub-plans) at the time when such Common Shares are purchased, except as follows: 
 (a) In the case of an
ISO granted under the Plan, payment shall be made only pursuant to the express provisions of the applicable Stock Option Agreement. The Stock Option Agreement may specify that payment may be made in any form(s) described in this Article 6. 

(b) In the case of an NSO granted under the Plan, the Committee may at any time permit payment to be made in any form(s) described in this
Article 6. 
 6.2 Exercise/Sale. To the extent that this Section 6.2 is made applicable
to an Option by the Committee, all or any part of the Exercise Price and any withholding taxes may be paid by delivering (on a form prescribed by the Company) an irrevocable direction to a securities broker approved by the Company to sell all or
part of the Common Shares being purchased under the Plan and to deliver all or part of the sales proceeds to the Company; provided that to the extent the Company would be deemed to extend or arrange for the extension of credit in the form of a
personal loan to an Optionee under the foregoing procedure, no Officer or Director may use the foregoing procedure to pay the Exercise Price. 

6.3 Other Forms of Payment. To the extent that this Section 6.3 is made applicable to an
Option by the Committee, all or any part of the Exercise Price and any withholding taxes may be paid in any other form that is consistent with Applicable Law, regulations and rules. 

  
 5 

 ARTICLE 7    STOCK APPRECIATION RIGHTS. 

7.1 SAR Agreement. Each grant of a SAR under the Plan shall be evidenced by a SAR Agreement
between the Optionee and the Company. Such SAR shall be subject to all applicable terms of the Plan and may be subject to any other terms that are not inconsistent with the Plan. The provisions of the various SAR Agreements entered into under the
Plan need not be identical. SARs may be granted in consideration of a reduction in the Optionee’s other compensation. 
 
7.2 Number of Shares. Each SAR Agreement shall specify the number of Common Shares to which the SAR pertains and shall provide for the adjustment of such number in accordance with Article 10. 

7.3 Exercise Price. Each SAR Agreement shall specify the Exercise Price provided that the
Exercise Price under a SAR shall in no event be less than 100% of the Fair Market Value of a Common Share on the date of grant. A SAR Agreement may specify an Exercise Price that varies in accordance with a predetermined formula while the SAR is
outstanding. 
 7.4 Exercisability and Term. Each SAR Agreement shall specify the date when
all or any installment of the SAR is to become exercisable. The SAR Agreement shall also specify the term of the SAR provided that the term of a SAR shall in no event exceed 10 years from the date of grant. The grant or vesting of a SAR may be made
contingent on the achievement of performance conditions. A SAR Agreement may provide for accelerated exercisability in the event of the Optionee’s death, Disability or retirement or other events and may provide for expiration prior to the end
of its term in the event of the termination of the Optionee’s Service. SARs may be awarded in combination with Options, and such an Award may provide that the SARs will not be exercisable unless the related Options are forfeited. A SAR may be
included in an ISO only at the time of grant but may be included in an NSO at the time of grant or thereafter. A SAR granted under the Plan may provide that it will be exercisable only in the event of a Change in Control. 

7.5 Effect of Change in Control. The Committee may determine, at the time of granting a SAR or
thereafter, that such SAR shall become fully exercisable as to all Common Shares subject to such SAR in the event that the Company is subject to a Change in Control or in the event that the Optionee is subject to an Involuntary Termination after a
Change in Control. In addition, acceleration of exercisability may be required under Section 10.3. 

7.6 Exercise of SARs. Upon exercise of a SAR, the Optionee (or any person having the right to
exercise the SAR after his or her death) shall receive from the Company (a) Common Shares, (b) cash or (c) a combination of Common Shares and cash, as the Committee shall determine, over the period or periods set forth in the SAR
Agreement. A SAR Agreement may place limits on the amount that may be paid over any specified period or periods upon the exercise of a SAR, on an aggregate basis or as to any Participant. The amount of cash and/or the Fair Market Value of Common
Shares received upon exercise of SARs shall, in the aggregate, be equal to the amount by which the Fair Market Value (on the date of surrender) of the Common Shares subject to the SARs exceeds the Exercise Price. If, on the date when a SAR expires,
the Exercise Price under such SAR is less than the Fair Market Value on such date but any portion of such SAR has not been exercised or surrendered, then such SAR shall automatically be deemed to be exercised as of such date with respect to such
portion. 
 7.7 Nonassignability of SARs. Except as determined by the Committee, no SAR shall
be assignable or otherwise transferable by the Participant except by will or by the laws of descent and distribution. However, SARs may be transferred and exercised in accordance with a Domestic Relations Order and may be exercised by a guardian or
conservator appointed to act for the Participant. 
 7.8 Substitute SARs. The Board may cause
the Company to grant Substitute SARs in connection with the acquisition by the Company or a Parent, Subsidiary or Affiliate of equity securities of any entity (including by merger, tender offer, or other similar transaction) or of all or a portion
of the assets of any entity. Any such 

  
 6 

 
substitution shall be effective on the effective date of the acquisition. Unless and to the extent specified otherwise by the Board, Substitute SARs shall have the same terms and conditions as
the SARs they replace, except that (subject to the provisions of Article 10) Substitute SARs shall be exercisable with respect to the Fair Market Value of Common Shares rather than equity securities of the granting entity and shall be on terms that,
as determined by the Board in its sole and absolute discretion, properly reflect that substitution. 

ARTICLE 8    RESTRICTED SHARES. 

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

8.2 Payment for Awards. Subject to the following sentence, Restricted Shares may be sold or
awarded under the Plan for such consideration as the Committee may determine, including (without limitation) cash, cash equivalents, labor done, services actually rendered to the Company or for its benefit or in its reorganization, debts or
securities cancelled, tangible or intangible property actually received either by the Company or a wholly-owned subsidiary, and promissory notes (provided the recipient is an Employee who is not a Director or Officer at the time of grant). All cash
and cash equivalents shall be dominated in U.S. dollars except as specified by the Committee for non-U.S. Employees or non-U.S.
sub-plans. 
 8.3 Vesting Conditions. Each Award of
Restricted Shares may or may not be subject to vesting. Vesting shall occur, in full or in installments, upon satisfaction of the conditions specified in the Restricted Stock Agreement. The Committee may include among such conditions the achievement
of Objectively Determinable Performance Conditions A Restricted Stock Agreement may provide for accelerated vesting in the event of the Participant’s death, Disability or retirement or other events. The Committee may determine, at the time of
granting Restricted Shares or thereafter, that all or part of such Restricted Shares shall become vested in the event that a Change in Control occurs with respect to the Company or in the event that the Participant is subject to an Involuntary
Termination after a Change in Control. 
 8.4 Voting and Dividend Rights. The holders of
Restricted Shares awarded under the Plan shall have the same voting, dividend and other rights as the Company’s other shareholders. A Restricted Stock Agreement, however, may require that the holders of Restricted Shares invest any cash
dividends received in additional Restricted Shares. Such additional Restricted Shares shall be subject to the same conditions and restrictions as the Award with respect to which the dividends were paid. Notwithstanding the foregoing, dividends
awarded with respect to Restricted Shares subject to unsatisfied performance-based conditions shall accumulate until all applicable performance-based conditions have been satisfied and will be paid, if at all, as soon as reasonably practicable
following the satisfaction of the applicable performance-based conditions. 
 8.5
Nonassignability of Restricted Shares. Except as determined by the Committee, no Restricted Shares shall be assignable or otherwise transferable by the Participant except by will or by the laws of descent and distribution until such time as
the Restricted Shares have vested. Notwithstanding anything to the contrary herein, Restricted Shares may be transferred and exercised in accordance with a Domestic Relations Order. 

8.6 Substitute Restricted Shares. The Board may cause the Company to grant Substitute
Restricted Shares in connection with the acquisition by the Company or a Parent, Subsidiary or Affiliate of equity securities of any entity (including by merger) or all or a portion of the assets of any entity. Unless and to the extent specified
otherwise by the Board, Substitute Restricted Shares shall have the same terms and conditions as the restricted shares they replace, except that (subject to the provisions of Article 10) Substitute Restricted Shares shall be Common Shares rather
than equity securities of the granting entity and shall be on terms that, as determined by the Board in its sole and absolute discretion, properly reflect the substitution. Any such Substituted Restricted Shares shall be granted effective on the
effective date of the acquisition. 

  
 7 

 8.7 Section 162(m) Limitation. For so long as
the Company is a “publicly held corporation” within the meaning of Section 162(m) of the Code and with respect to grants of Restricted Shares that are intended to qualify as performance-based compensation under Code
Section 162(m), no Employee may be granted within any Fiscal Year under the Plan more than 33,333 Restricted Shares which are subject to the achievement of Objectively Determinable Performance Conditions, with such limit subject to adjustment
pursuant to Article 10. 
 ARTICLE 9    STOCK UNITS. 

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

9.2 Payment for Awards. To the extent that an Award is granted in the form of Stock Units, no
cash consideration shall be required of the Award recipients. 
 9.3 Vesting Conditions. Each
Award of Stock Units may or may not be subject to vesting. Vesting shall occur, in full or in installments, upon satisfaction of the conditions specified in the Stock Unit Agreement. The Committee may include among such conditions the achievement of
Objectively Determinable Performance Conditions. A Stock Unit Agreement may provide for accelerated vesting in the event of the Participant’s death, Disability or retirement or other events. The Committee may determine, at the time of granting
Stock Units or thereafter, that all or part of such Stock Units shall become vested in the event that the Company is subject to a Change in Control or in the event that the Participant is subject to an Involuntary Termination after a Change in
Control. In addition, acceleration of vesting may be required under Section 10.3. 
 9.4
Voting and Dividend Rights. The holders of Stock Units shall have no voting rights. Prior to settlement or forfeiture, any Stock Unit awarded under the Plan may, at the Committee’s discretion, carry with it a right to dividend
equivalents. Such right entitles the holder to be credited with an amount equal to all cash dividends paid on one Common Share while the Stock Unit is outstanding. Dividend equivalents may be converted into additional Stock
Units. Settlement of dividend equivalents may be made in the form of cash, in the form of Common Shares, or in a combination of both, as determined by the Committee. Prior to distribution, any dividend equivalents that are not paid shall
be subject to the same conditions and restrictions as the Stock Units to which they attach. Notwithstanding the foregoing, dividend equivalents awarded with respect to Stock Units subject to unsatisfied performance-based conditions shall
accumulate until all applicable performance-based conditions have been satisfied and will be paid, if at all, as soon as reasonably practicable following the satisfaction of the applicable performance-based conditions. 

9.5 Form and Time of Settlement of Stock Units. Settlement of vested Stock Units may be made in
the form of (a) cash, (b) Common Shares or (c) any combination of both, as determined by the Committee, over the period or periods established by the Committee. A Stock Units Award may place limits on the amount that may be paid over
any specified period or periods, on an aggregate basis or as to any Participant. The actual number of Stock Units eligible for settlement may be larger or smaller than the number included in the original Award, based on performance criteria. Methods
of converting Stock Units into cash may include (without limitation) a method based on the average Fair Market Value of Common Shares over a series of trading days. Distribution on settlement may occur or commence when all vesting conditions
applicable to the Stock Units have been satisfied or have lapsed, or it may be deferred to any later date. The amount of a deferred distribution may be increased by an interest factor or by dividend equivalents. Until an Award of Stock Units is
settled, the number of such Stock Units shall be subject to adjustment pursuant to Article 10. 

9.6 Death of Recipient. Any Stock Units Award that becomes payable after the recipient’s
death shall be distributed to the recipient’s beneficiary or beneficiaries. Each recipient of a Stock Units Award under the Plan 

  
 8 

 
shall designate one or more beneficiaries for this purpose by filing the prescribed form with the Company. A beneficiary designation may be changed by filing the prescribed form with the Company
at any time before the Award recipient’s death. If no beneficiary was designated or if no designated beneficiary survives the Award recipient, then any Stock Units Award that becomes payable after the recipient’s death shall be distributed
to the recipient’s estate. 
 9.7 Creditors’ Rights. A holder of Stock Units shall
have no rights other than those of a general creditor of the Company. Stock Units represent an unfunded and unsecured obligation of the Company, subject to the terms and conditions of the applicable Stock Unit Agreement. 

9.8 Nonassignability of Stock Units. Except as determined by the Committee, no Stock Units
Award shall be assignable or otherwise transferable by the Participant except by will or by the laws of descent and distribution. Notwithstanding anything to the contrary herein, Stock Units Awards may be transferred and exercised in accordance with
a Domestic Relations Order. 
 9.9 Substitute Stock Units. The Board may cause the Company to
grant Substitute Stock Units in connection with the acquisition by the Company or a Parent, Subsidiary or Affiliate of equity securities of any entity (including by merger) or all or a portion of the assets of any entity. Unless and to the extent
specified otherwise by the Board, Substitute Stock Units shall have the same terms and conditions as the stock units they replace, except that (subject to the provisions of Article 10) Substitute Stock Units shall be settled with respect to the Fair
Market Value of the Common Shares rather than equity securities of the granting entity and shall be on terms that, as determined by the Board in its sole and absolute discretion, properly reflect the substitution. 

9.10 Section 162(m) Limitation. For so long as the Company is a “publicly held
corporation” within the meaning of Section 162(m) of the Code and with respect to grants of Stock Units that are intended to qualify as performance-based compensation under Code Section 162(m), no Employee may be granted within any
Fiscal Year under the Plan more than 33,333 Stock Units which are subject to the achievement of Objectively Determinable Performance Condition, with such limit subject to adjustment pursuant to Article 10. 

ARTICLE 10    PROTECTION AGAINST DILUTION. 

10.1 Adjustments. In the event of a subdivision of the outstanding Common Shares, a declaration
of a dividend payable in Common Shares, a declaration of a dividend payable in a form other than Common Shares in an amount that has a material effect on the price of Common Shares, a combination or consolidation of the outstanding Common Shares (by
reclassification or otherwise) into a lesser number of Shares, a stock split, a reverse stock split, a reclassification or other distribution of the Common Shares without the receipt of consideration by the Company, of or on the Common Stock, a
recapitalization, a combination, a spin-off or a similar occurrence, the Committee shall make equitable and proportionate adjustments to: 

(a) the maximum aggregate number of Common Shares reserved for issuance under the Plan as specified in Section 3.1 and to be issued as
ISOs as set forth under Section 3.1 and the number of Common Shares under the Prior Plans that may become available for award under this Plan pursuant to Section 3.1(ii); 

(b) the number and kind of securities available for Awards (and which can be issued as ISOs) under Section 3.1; 

(c) the limitations set forth in Sections 4.3(a), 8.7 and 9.10; 

(d) the number and kind of securities covered by each outstanding Award; 

(e) the Exercise Price under each outstanding Option and SAR; or 

(f) the number and kind of outstanding securities issued under the Plan. 

  
 9 

 In the event of a declaration of an extraordinary dividend payable in a form other than Common Shares in an
amount that has a material effect on the price of Common Shares, a recapitalization, a spin-off or a similar occurrence, the Committee shall make such proportionate adjustments as it, in its sole discretion,
deems appropriate in one or more of the foregoing. Except as provided in this Article 10, a Participant shall have no rights by reason of any issuance by the Company of stock of any class or securities convertible into stock of any class, any
subdivision or consolidation of shares of stock of any class, the payment of any stock dividend or any other increase or decrease in the number of shares of stock of any class. Any adjustment of Common Shares pursuant to this Section 10.1 shall
be rounded down to the nearest whole number of Common Shares. Under no circumstances shall the Company be required to authorize or issue fractional shares and no consideration shall be provided as a result of any fractional shares not being issued
or authorized. 
 10.2 Dissolution or Liquidation. To the extent not previously exercised or
settled, Options, SARs, unvested Restricted Shares and Stock Units shall terminate immediately prior to the dissolution or liquidation of the Company and be forfeited to the Company. 

10.3 Reorganizations. In the event that the Company is a party to a merger or other reorganization,
outstanding Awards shall be subject to the agreement of merger or reorganization. Such agreement may provide, without limitation, for (a) the continuation of the outstanding Awards by the Company, if the Company is a surviving corporation,
(b) the assumption of the outstanding Awards by the surviving entity or its parent or subsidiary, (c) the substitution by the surviving entity or its parent or subsidiary of its own awards for the outstanding Awards, (d) full
exercisability or vesting and accelerated expiration of the outstanding Awards, (e) settlement of the full value of the outstanding Awards in cash or cash equivalents followed by cancellation of such Awards (with the “full value” of
Options and SARs to be determined based on the spread of the Award at the time of the transaction), and in all cases without needing consent of any Participant. In the event of a Divestiture, the Board may, but need not, direct that one or more of
the foregoing actions be taken with respect to Awards held by, for example, Employees, Outside Directors or Consultants for whom the transaction or event resulted in a termination of Service. The Board need not adopt the same rules for each Award or
Participant. 
 ARTICLE 11    DEFERRAL OF AWARDS. 

The Committee (in its sole discretion) may permit or require a Participant to: 

(a) Have cash that otherwise would be paid to such Participant as a result of the exercise of a SAR or the settlement of Stock Units credited
to a deferred compensation account established for such Participant by the Committee as an entry on the Company’s books; 
 (b) Have
Common Shares that otherwise would be delivered to such Participant as a result of the exercise of an Option or SAR converted into an equal number of Stock Units; or 

(c) Have Common Shares that otherwise would be delivered to such Participant as a result of the exercise of an Option or SAR or the settlement
of Stock Units converted into amounts credited to a deferred compensation account established for such Participant by the Committee as an entry on the Company’s books. Such amounts shall be determined by reference to the Fair Market Value of
such Common Shares as of the date when they otherwise would have been delivered to such Participant. 
 A deferred compensation account
established under this Article 11 may be credited with interest or other forms of investment return, as determined by the Committee. A Participant for whom such an account is established shall have no rights other than those of a general creditor of
the Company. Such an account shall represent an unfunded and unsecured obligation of the Company and shall be subject to the terms and conditions of the applicable agreement between such Participant and the Company. If the deferral or conversion of
Awards is permitted or required, the Committee (in its sole discretion) may establish rules, procedures and forms pertaining to such Awards, including (without limitation) the settlement of deferred compensation accounts established under this
Article 11. 

  
 10 

 Any and all arrangements under this Article 11 must comply with the rules and requirements of
Section 409A of the Code including, without limitation, the requirements for the timing of deferral elections and the Delay In Payments to Specified Employees. 

ARTICLE 12    AWARDS UNDER OTHER PLANS. 

The Company may grant awards under other plans or programs. Such awards may be settled in the form of Common Shares issued under the Plan. Such
Common Shares shall be treated for all purposes under the Plan like Common Shares issued in settlement of Stock Units and shall, when issued, reduce the number of Common Shares available under Article 3. Notwithstanding the foregoing, each Common
Share issued pursuant to this Article 12 shall be counted against the Plan reserve in Section 3.1 as one (1) Common Share to the extent such shares are issued in respect of awards under other plans or programs that have substantially
similar terms and conditions to Options or SARs granted under the Plan, including, with respect to stock options or equivalent securities, an exercise price at least equal to the fair market value of the securities for which the stock option or
equivalent security is exercisable, measured at the date of grant. 
 ARTICLE 13    PAYMENT OF
DIRECTORS’ FEES IN SECURITIES. 
 13.1 Effective Date. No provision of this Article
13 shall be effective unless and until the Board has determined to implement such provision. 

13.2 Elections to Receive NSOs, Restricted Shares or Stock Units. An Outside Director may elect
to receive his or her annual retainer payments and/or meeting fees from the Company in the form of cash, NSOs, Restricted Shares or Stock Units, or a combination thereof, as determined by the Board. Such NSOs, Restricted Shares and Stock Units shall
be issued under the Plan. An election under this Article 13 must be timely filed with the Company on the prescribed form. 
 
13.3 Number and Terms of NSOs, Restricted Shares or Stock Units. The number of NSOs, Restricted Shares or Stock Units to be granted to Outside Directors in lieu of annual retainers and meeting fees that would otherwise be paid in
cash shall be calculated in a manner determined by the Board. The Board shall also determine the terms of such NSOs, Restricted Shares or Stock Units. 

ARTICLE 14    LIMITATION ON RIGHTS. 

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

14.2 Shareholders’ Rights. A Participant shall have no dividend rights, voting rights or
other rights as a shareholder with respect to any Common Shares covered by his or her Award prior to the time when a stock certificate for such Common Shares is issued or, if applicable, the time when he or she becomes entitled to receive such
Common Shares by satisfying all requirements for exercise at a time when the Company is obligated to deliver such Common Shares under the terms of the Award agreement and this Plan. No adjustment shall be made for cash dividends or other rights for
which the record date is prior to such time, except as expressly provided in the Plan. 
 14.3
Regulatory Requirements. Any other provision of the Plan notwithstanding, the obligation of the Company to issue Common Shares under the Plan shall be subject to all Applicable Law. The Company reserves the right to restrict, in whole or in
part, the delivery of Common Shares pursuant to any Award prior to the satisfaction of all Applicable Law relating to the issuance of such Common Shares, to their registration, qualification or listing or to an exemption from registration,
qualification or listing. 

  
 11 

 14.4 Code Section 409A. Notwithstanding
anything in the Plan to the contrary, the Plan and Awards granted hereunder are intended to comply with the requirements of Code Section 409A and shall be interpreted in a manner consistent with such intention. 

ARTICLE 15    WITHHOLDING TAXES. 

15.1 General. To the extent required by Applicable Law, a Participant or his or her successor
shall make arrangements satisfactory to the Company for the satisfaction of any withholding tax obligations that arise in connection with the Plan. The Company shall not be required to issue any Common Shares or make any cash payment under the Plan
until such obligations are satisfied. 
 15.2 Share Withholding. To the extent that
Applicable Law subjects a Participant to tax withholding obligations, the Committee may establish procedures that may permit such Participant to satisfy all or part of such obligations by having the Company withhold all or a portion of any Common
Shares that otherwise would be issued to him or her or by surrendering all or a portion of any Common Shares that he or she previously acquired. Such Common Shares shall be valued at their Fair Market Value on the date when they are withheld or
surrendered. 
 ARTICLE 16    FUTURE OF THE PLAN. 

16.1 Term of the Plan. The Plan was effective on the Effective Date. The Plan, as may be amended
or restated from time to time, shall remain in effect until the tenth anniversary of the Effective Date or until such earlier date as provided under Section 16.2. Except as provided in Section 3.1, this Plan will not in any way affect
outstanding awards that were issued under the Prior Plans or other Company equity compensation plans. No further awards may be granted under the Prior Plans as of the date of approval of this Plan by the Company’s shareholders. 

16.2 Amendment or Termination. The Board may, at any time and for any reason, amend or
terminate the Plan. An amendment of the Plan shall be subject to the approval of the Company’s shareholders only to the extent required by Applicable Law. No Awards shall be granted under the Plan after the termination thereof. The termination
of the Plan, or any amendment thereof, shall not impair the rights of any Participant under any Award previously granted under the Plan unless the Participant consents to such amendment. The Board or the Committee may amend the terms of any existing
Award, prospectively or retroactively, but no such amendment shall impair the rights of any Participant unless the Participant consents to such amendment. The Board or the Committee may not amend the terms of any Option or SAR to reduce the Exercise
Price (except pursuant to Article 10), or cancel any Option or SAR and grant a new Option or SAR with a lower Exercise Price such that the effect would be the same as reducing the Exercise Price, without the approval of the Company’s
shareholders. Notwithstanding anything herein to the contrary, no consent of a Participant shall be required if the Board determines, in its sole and absolute discretion, that the amendment, suspension, termination, or modification: (a) is
required or advisable in order for the Company, the Plan or the Award to satisfy Applicable Law, to meet the requirements of any accounting standard or to avoid any adverse accounting treatment, or (b) in connection with any transaction or
event described in Article 10, is in the best interests of the Company or its shareholders. The Board may, but need not, take the tax or accounting consequences to affected Participants into consideration in acting under the preceding sentence.
Those decisions shall be final, binding and conclusive. Termination of the Plan shall not affect the Committee’s ability to exercise the powers granted to it under the Plan with respect to Awards granted before the termination notwithstanding
that Awards become exercisable or are to be settled after the termination. 

ARTICLE 17    DEFINITIONS. 

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

  
 12 

 17.2 “Applicable Law” means any and all
laws of whatever jurisdiction, within or without the United States, and the rules of any stock exchange or quotation system on which Common Shares are listed or quoted, applicable to the taking or refraining from taking of any action under the Plan,
including the administration of the Plan and the issuance or transfer of Awards. 
 17.3
“Award” means any award of an Option, a SAR, a Restricted Share or a Stock Unit under the Plan. 
 
17.4 “Board” means the Company’s Board of Directors, as constituted from time to time. 
 
17.5 “Cause” means, except as may otherwise be provided in an applicable Award agreement, (a) acts or omissions constituting gross negligence, recklessness or willful misconduct with respect to the Participant’s
obligations or otherwise relating to the business of the Company; (b) the Participant’s material breach of a written agreement between the Participant and the Company (or a Parent, Subsidiary or Affiliate); (c) conviction or entry of
a plea of nolo contendere for fraud, misappropriation or embezzlement, or any felony or crime of moral turpitude; (d) dishonesty or involvement in any conduct that adversely affects the Company’s name or public image or is otherwise
detrimental to the Company’s business interests; (e) willful neglect of duties; or (f) unauthorized use or disclosure of the confidential information or trade secrets of the Company, which use or disclosure causes material harm to the
Company. The foregoing, however, shall not be deemed an exclusive list of all acts or omissions that the Company (or the Parent, Subsidiary or Affiliate employing the Participant) may consider as grounds for the discharge of the Participant without
Cause. The Committee shall be entitled to determine “Cause” based on the Committee’s good faith belief. 
 
17.6 “Change in Control” means, except as may otherwise be provided in an applicable Award agreement: 
 (a) The
consummation of a merger or consolidation of the Company with or into another entity or any other corporate reorganization, if persons who were not shareholders of the Company immediately prior to such merger, consolidation or other reorganization
own immediately after such merger, consolidation or other reorganization 50% or more of the voting power of the outstanding securities of each of (i) the continuing or surviving entity and (ii) any direct or indirect parent corporation of
such continuing or surviving entity; 
 (b) The sale, transfer or other disposition of all or substantially all of the Company’s assets;

 (c) A change in the composition of the Board over a period of thirty-six (36) months or less
such that a majority of the Board members (rounded up to the next whole number) ceases, by reason of one or more contested elections for Board membership, to be comprised of individuals who are Continuing Directors; 

(d) Any transaction as a result of which the direct or indirect acquisition by any person or related group of persons (other than an
acquisition from or by the Company or by a Company-sponsored employee benefit plan or by a person that directly or indirectly controls, is controlled by, or is under common control with, the Company) of beneficial ownership (within the meaning of
Rule 13d-3 of the Exchange Act) of securities possessing more than fifty percent (50%) of the total combined voting power of the Company’s outstanding securities pursuant to a tender or exchange
offer made directly to the Company’s shareholders which a majority of the Continuing Directors who are not affiliated with the offeror do not recommend such shareholders accept; or 

(e) A Divestiture; provided that a Divestiture shall be a Change in Control only to the extent that the Board determines that such Divestiture
constitutes a Change in Control, and then only for those Participants for whom the Board has expressly resolved that such Divestiture constitutes a Change in Control for such Participants. In making such determination, the Board need not adopt the
same rules for each Award or Participant. 
 A transaction shall not constitute a Change in Control if its sole purpose is to change the state of the
Company’s incorporation or to create a holding company that will be owned in substantially the same proportions by the persons who held the Company’s securities immediately before such transaction. The Committee shall determine whether an
event shall be treated as a Change in Control. 

  
 13 

 17.7 “Code” means the Internal Revenue
Code of 1986, as amended. 
 17.8 “Committee” means a committee of the Board, as
described in Article 2. 
 17.9 “Common Share” means one share of the common stock
of the Company. 
 17.10 “Company” means Overland Storage, Inc., a California
corporation. 
 17.11 “Consultant” means a consultant or adviser who provides bona
fide services to the Company, a Parent, a Subsidiary or an Affiliate as an independent contractor. 

17.12 “Continuing Directors” means members of the Board who either (i) have been
Board members continuously for a period of at least thirty-six (36) months or (ii) have been Board members for less than thirty-six (36) months and were
elected or nominated for election as Board members by at least a majority of the Board members described in clause (i) who were still in office at the time such election or nomination was approved by the Board. 

17.13 “Delay In Payments to Specified Employees” means if a Participant is a
“specified employee” (as defined under Code Section 409A) on separation from Service, to the extent any Award or arrangement needs to comply with Code Section 409A, then certain payments may be delayed and not be paid during the
first six months following the separation from Service but will instead be paid on the earlier of the first business day of the 7th month following the separation from Service, or ten
(10) days after the Company receives written confirmation of the Participant’s death. Any such delayed payments shall be made without interest. 

17.14 “Director” means a member of the Board of Directors of the Company. 

17.15 “Disability” means that the Participant is unable to engage in any substantial
gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or which has lasted or can be expected to last for a continuous period of not less than twelve (12) months. The
Disability of a Participant shall be determined solely by the Committee on the basis of such medical evidence as the Committee deems warranted under the circumstances. 

17.16 “Divestiture” means a transaction or event where the Company or a Parent,
Subsidiary or Affiliate sells or otherwise transfers its equity securities to a person or entity other than the Company or a Parent, Subsidiary or Affiliate, or leases, exchanges or transfers all or any portion of its assets to such a person or
entity, where the Board specifies that such transaction or event constitutes a “Divestiture.” 

17.17 “Domestic Relations Order” means a “domestic relations order” as
defined in, and otherwise meeting the requirements of, section 414(p) of the Code, except that reference to a “plan” in that definition shall be to the Plan. 

17.18 “Effective Date” means November 14, 2009 which was the date on which the
Plan was adopted by the Board. 
 17.19 “Employee” means a common law employee of
the Company, a Parent, a Subsidiary or an Affiliate. Notwithstanding the foregoing, individuals who are classified by the Company or a Parent, Subsidiary or Affiliate as (i) leased from or otherwise employed by a third party,
(ii) independent contractors, or (iii) intermittent or temporary workers, shall not be deemed Employees. The Company’s or a Parent’s, Subsidiary’s or Affiliate’s classification of an individual as an
“Employee” (or as not an “Employee”) for purposes of the Plan shall not be altered retroactively even if that classification is changed retroactively for another purpose as a result of an audit, litigation or otherwise. A
Participant shall not cease to be an Employee due to transfers between locations of the Company, or among the Company and a Parent, Subsidiary or Affiliate, 

  
 14 

 
or to any successor to the Company or a Parent, Subsidiary or Affiliate that assumes an Optionee’s Options under Section 10.3. Neither service as a Director nor receipt of a
director’s fee shall be sufficient to make a Director an “Employee.” 
 17.20
“Exchange Act” means the Securities Exchange Act of 1934, as amended. 
 17.21
“Exercise Price,” in the case of an Option, means the amount for which one Common Share may be purchased upon exercise of such Option, as specified in the applicable Stock Option Agreement. “Exercise Price,” in the case of
a SAR, means an amount, as specified in the applicable SAR Agreement, which is subtracted from the Fair Market Value of one Common Share in determining the amount payable upon exercise of such SAR. 

17.22 “Fair Market Value” means the market price of a Common Share determined by the
Committee as follows: 
 (i) If the Common Shares were traded on a stock exchange (such as the New York Stock Exchange, NYSE Amex, the NASDAQ
Global Market or NASDAQ Capital Market) at the time of determination, then the Fair Market Value shall be equal to the regular session closing price for such stock as reported by such exchange (or the exchange or market with the greatest volume of
trading in the Common Shares) on the date of determination, or if there were no sales on such date, on the last date preceding such date on which a closing price was reported; 

(ii) If the Common Shares were traded on the OTC Bulletin Board at the time of determination, then the Fair Market Value shall be equal to the
last-sale price reported by the OTC Bulletin Board for such date of determination, or if there were no sales on such date, on the last date preceding such date on which a sale was reported; and 

(iii) If neither of the foregoing provisions is applicable, then the Fair Market Value shall be determined by the Committee in good faith using
a reasonable application of a reasonable valuation method as the Committee deems appropriate. 
 Whenever possible, the determination of
Fair Market Value by the Committee shall be based on the prices reported by the applicable exchange or the OTC Bulletin Board, as applicable, or a nationally recognized publisher of stock prices or quotations (including an electronic on-line publication). Such determination shall be conclusive and binding on all persons. 
 
17.23 “Fiscal Year” means the Company’s fiscal year. 
 17.24
“Involuntary Termination” means the termination of the Participant’s Service by reason of: 
 (a) The involuntary
discharge of the Participant by the Company (or the Parent, Subsidiary or Affiliate employing him or her) for reasons other than Cause; or 

(b) The voluntary resignation of the Participant following (i) a material adverse change in his or her title, stature, authority or
responsibilities with the Company (or the Parent, Subsidiary or Affiliate employing him or her), (ii) a material reduction in his or her base salary or (iii) receipt of notice that his or her principal workplace will be relocated by more
than 90 miles. 
 17.25 “ISO” means an incentive stock option described in section
422(b) of the Code. 
 17.26 “NSO” means a stock option not described in sections
422 or 423 of the Code. 
 17.27 “Objectively Determinable Performance Condition”
shall mean a performance condition (i) that is established (A) at the time an Award is granted or (B) no later than the earlier of (1) 90 days after the beginning 

  
 15 

 
of the period of Service to which it relates, or (2) before 25% of the period of Service to which it relates has elapsed, (ii) that is substantially uncertain of achievement at the time
it is established, and (iii) the achievement of which would be determinable by a third party with knowledge of the relevant facts. Examples of measures that may be used in Objectively Determinable Performance Conditions include net order
dollars, net profit dollars, net profit growth, net revenue dollars, profit/loss or profit margin, operating profit, net operating profit, operating margin, working capital, sales or revenue, revenue growth, gross margin, cost of goods sold,
individual performance, cash, accounts receivables, writeoffs, cash flow, liquidity, income, net income, operating income, net operating income, earnings, earnings before interest, taxes, depreciation and/or amortization, earnings per share, growth
in earnings per share, price/earnings ratio, debt or debt-to-equity, economic value added, assets, return on assets, return on equity, stock price, shareholders’
equity, total shareholder return, including stand-alone or relative to a stock market or peer group index, return on capital, return on assets or net assets, return on investment, return on operating revenue, any other financial objectives,
objective customer satisfaction indicators and efficiency measures, operations, research or related milestones, intellectual property (e.g., patents), product development, site, plant or building development, internal controls, policies and
procedures, information technology, human resources, corporate governance, business development, market share, strategic alliances, licensing and partnering, contract awards or backlog, expenses, overhead or other expense reduction, compliance
programs, legal matters, accounting and reporting, credit rating, strategic plan development and implementation, mergers and acquisitions and divestitures, financings, management, improvement in workforce diversity, or any similar criteria, each
with respect to the Company and/or a Parent, Subsidiary or Affiliate, and/or an individual business unit. 

17.28 “Officer” means an officer of the Company as defined in Rule 16a-1 adopted under the Exchange Act. 
 17.29
“Option” means an ISO or NSO granted under the Plan and entitling the holder to purchase Common Shares. 
 
17.30 “Optionee” means an individual or estate who holds an Option or SAR. 

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

17.32 “Parent” means any corporation (other than the Company) in an unbroken chain
of corporations ending with the Company, if each of the corporations other than the Company owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain. A corporation
that attains the status of a Parent on a date after the adoption of the Plan shall be considered a Parent commencing as of such date. 
 
17.33 “Participant” means (i) a person to whom an Award has been granted, including a holder of a Substitute Award; or (ii) a person to whom an Award has been transferred in accordance with the applicable
requirements of Sections 5.6, 7.7, 8.5, or 9.8 
 17.34 “Plan” means this Overland
Storage, Inc. 2009 Equity Incentive Plan, as amended from time to time. 
 17.35 “Prior
Plans” means the Company’s 1995 Stock Option Plan, 1997 Executive Stock Option Plan, 2000 Stock Option Plan, 2001 Supplemental Stock Option Plan, and 2003 Equity Incentive Plan, each as in effect on the Effective Date. 

17.36 “Restricted Share” means a Common Share awarded pursuant to Article 8 of the
Plan. 
 17.37 “Restricted Stock Agreement” means the agreement between the
Company and the recipient of a Restricted Share that contains the terms, conditions and restrictions pertaining to such Restricted Share. 

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

  
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 17.39 “SAR Agreement” means the
agreement between the Company and an Optionee that contains the terms, conditions and restrictions pertaining to his or her SAR. 
 
17.40 “Service” means service as an Employee, Outside Director or Consultant. Unless otherwise determined by the Committee or otherwise provided in the Plan or Award agreement, Service shall continue notwithstanding a
change in status from an Employee, Consultant or Outside Director to another such status. An event that causes a Parent, Subsidiary or Affiliate to cease having status as a Parent, Subsidiary or Affiliate shall be deemed to discontinue the Service
of that entity’s Employees, Outside Directors and Consultants unless such persons retain the status of Employee, Outside Director or Consultant of the Company or a remaining Parent, Subsidiary or Affiliate. 

17.41 “Shareholder Approval Date” means January 5, 2010 which was the date on
which the adoption of the Plan was approved by the Company’s shareholders. 
 17.42
“Stock Option Agreement” means the agreement between the Company and an Optionee that contains the terms, conditions and restrictions pertaining to his or her Option. 

17.43 “Stock Unit” means a bookkeeping entry representing the equivalent of one
Common Share, as awarded under the Plan. 
 17.44 “Stock Unit Agreement” means the
agreement between the Company and the recipient of Stock Units that contains the terms, conditions and restrictions pertaining to such Stock Units. 

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

17.46 “Substitute Award” means a Substitute Option, Substitute SAR, Substitute
Restricted Share or Substitute Stock Unit granted in accordance with the terms of the Plan. 

17.47 “Substitute Option” means an Option granted in substitution for, or upon the
conversion of, an option granted by another entity to purchase equity securities in the granting entity. 

17.48 “Substitute SAR” means a SAR granted in substitution for, or upon the
conversion of, a stock appreciation right granted by another entity with respect to equity securities in the granting entity. 
 
17.49 “Substitute Restricted Share” means a Restricted Share granted in substitution for a restricted share granted by another entity with respect to equity securities in the granting entity. 

17.50 “Substitute Stock Unit” means a Stock Unit granted in substitution for, or
upon the conversion of, a stock unit granted by another entity with respect to equity securities in the granting entity. 
 
17.51 “Ten Percent Shareholder” means any person who, directly or by attribution under Section 424(d) of the Code, owns stock possessing more than ten percent (10%) of the total combined voting power of all
classes of stock of the Company or of any Parent or Subsidiary on the date of Option grant. 

  
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