Document:

Offer Letter between the Registrant and David Whalen

 Exhibit 10.1 
 Confidential 
 December 13, 2006 
 David Whalen 
 1906 Wasach Dr 
 Longmont, CO 90501 
 Dear David: 
 We are pleased to
offer you employment with Carrier Access Corporation (“Carrier Access”). 
 The terms of your position with are set forth below. 
  

	1.	Position 

 Your position will be Executive Vice
President—Worldwide Customer Sales and Service, located at Company headquarters in Boulder, Colorado, with appropriate travel to all Carrier Access development centers, partners, and customers as required. You will report directly to the
Executive Vice President & Chief Operating Officer of Carrier Access. 
 During the term of your employment in this position, you
will not render commercial or professional services of any nature to any other person or organization, whether or not for compensation, without the prior written consent of the Chairman and Chief Executive Officer. 
  

	2.	Start Date 

 It is anticipated that your start date
with Carrier Access will be January 2, 2007. 
  

	3.	Proof of Right to Work 

 Pursuant to federal
immigration law, you will be required to provide Carrier Access documentary evidence of your identity and eligibility for employment in the United States of America. Such documentation must be provided to us within three (3) business days of
your Start Date or our employment relationship with you may be terminated. 
  

	4.	Compensation 

  

	 	a)	Base Salary  

 You will be paid a bi-weekly salary
of $10,576.92 pursuant to Carrier Access’s regular payroll schedule. This bi-weekly salary times twenty-six (26) pay periods is equivalent to $275,000.00 annually. 
  

	 	b)	Incentive 

 Commencing with the Fiscal Year 2007, in
addition to Base Salary, you will become eligible for participation in the Company’s commission or bonus program, with a target rate of 110% of your annual base salary. Your actual annual incentive payment may be below, at, or above target and
will be based upon a combination of satisfactory completion of your objectives and the Company’s achievement level against financial and performance objectives set by the Board of Directors. The Board shall consider the recommendation of the
Compensation Committee in determining such incentive amounts. 
 5395 Pearl Parkway • Boulder, CO 80301 • 303.442.5455 • Fax
303.443.5908 • http://www.carrieraccess.com 

 Confidential 
  

	 	c)	Stock Options 

 With the commencement of your
employment, I will recommend to the Compensation Committee of the Carrier Access Board of Directors that you be granted a non-qualified stock option to purchase 225,000 shares of Carrier Access Common Stock (the “Option”). If approved, the
Option will be granted with an exercise price equal to the fair market price per share of Carrier Access Common Stock based on your Start Date. After the approval by the Compensation Committee of the Board of Directors, you will receive the 1998
Stock Option Plan and Stock Option Agreement (“Agreement”). Vesting is described in the Agreement and will commence as of your Start Date. Please consult with the Chief Financial Officer for additional information. 
  

	5.	Benefits 

 You will receive standard Carrier Access benefits. Health
benefits become effective on the first day of the month following your Start Date. If your start date is the first business day of the month, you become eligible for health benefits on that day. 
  

	6.	Paid Time Off 

 Carrier Access will provide you with PTO days (paid
time off) and holidays. Currently there are eight (8) observed holidays. During your first year of employment, you will accrue twenty (20) PTO days accrued on a per pay period basis (159.9 hrs / 26 pay periods = 6.15 hrs accrued each pay
period). Our maximum accrual total is 240 hours, which means that if that maximum is reached, no additional hours will accrue until the total goes below 240. 
  

	7.	Confidential Information and Employer Protection Agreement/Insider Trading Policy 

 Your acceptance of this offer and commencement of employment is contingent upon the execution and delivery of the Employer Protection Agreement, which is enclosed. This document must be read, executed, and delivered
to Carrier Access prior to your Start Date. In addition, please note that as a condition of employment, you will be required to adhere to Carrier Access’ Insider Trading Policy. 
  

	8.	Confidentiality of Offer Terms 

 You agree to follow Carrier
Access’ strict policy that employees must not disclose, either directly or indirectly, any information, including any of the terms of this offer letter, regarding salary, bonuses, or stock option allocations to any person, including other
Carrier Access employees, provided, however, that you may discuss such terms with members of your immediate family and any legal, tax or accounting specialists who provide individual legal, tax or accounting advice. 
  

	9.	Non-Solicitation  

 In consideration of your employment with Carrier
Access, you agree that beginning with the date of this letter and continuing until one year after the date of termination, you, either for yourself or for any other person or entity, will not directly or indirectly, solicit, induce, or attempt to
induce any employee of Carrier Access to terminate his or her employment with Carrier Access. It will be deemed a violation of this provision if you request any recruitment firm to initiate contact with any employee of Carrier Access. 
  

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	10.	TERMINATION. 

  

	 	a.	FOR CAUSE: Company may, at any time, terminate your employment for “Cause”. For purposes of this provision, termination for “Cause” shall include, but not be
limited to, termination for the following reasons: 

  

	 	(i)	indictment for, pleading nolo contendere to, or conviction of a felony involving dishonesty, theft, fraud, violent conduct, breach of trust, or unethical business conduct;

  

	 	(ii)	theft or intentional misappropriation of funds, trade secrets or other proprietary property of the Company; 

  

	 	(iii)	conduct which constitutes illegal, fraudulent, dishonest or unethical dealings with the Company, officers, directors, clients, customers and/or vendors; 

  

	 	(iv)	failure to comply with applicable laws or regulations of any government agency regulating the business of the Employer; 

  

	 	(v)	any action or inaction which has a material adverse effect on the Company and which is not or cannot be cured within thirty (30) days after notice from the Board of Directors
of the Company thereof; 

  

	 	(vi)	unsatisfactory performance which is unrelated to significant market conditions that impede reasonable performance expectation, acts of God, war or terrorism and/or decisions by the
Chairman of the Board, the Chief Executive Officer or the President of the Company to substantially change the scope, direction or business operations of the Company, after prior notice and a ninety (90) day opportunity to cure the
unsatisfactory performance in accordance with the Company’s policies; 

  

	 	(vii)	willful misconduct, such as sexual harassment or other discriminatory behavior; or 

  

	 	(viii)	discovery that you have falsified you employment history or background prior to employment. 

 “Cause” indicates the Company’s good faith belief that cause exists. 
  

	 	b.	WITHOUT CAUSE. Your employment with Carrier Access is at will and either you or the Company may terminate the relationship at any time for any reason. 

  

	 	(i)	BY THE COMPANY. Company may terminate your employment without Cause at any time for any reason or for no reason. In such event, at the election of the Company, you shall continue to
render your services up to the date of termination. 

  

	 	(ii)	BY YOU. You may voluntarily terminate your employment or resign upon thirty (30) days written notice to Company for any reason. In such event, at the election of the Company,
you shall continue to render your services up to the date of termination. 

  

	11.	OBLIGATIONS OF COMPANY UPON TERMINATION. 

  

	 	a.	 SALARY UPON TERMINATION BY COMPANY WITHOUT CAUSE. In the event that your employment is terminated 

  

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by the Company without Cause, provided that you sign a release of legal actions substantially in the form set forth at Exhibit A, at the time of termination,
and confirmation of your agreement to be bound by the non-compete terms set forth at Exhibit B, you will receive six (6) month’s base salary in lieu of any severance based upon your base salary or target incentive payment or other amounts
which may otherwise be due to you by the Company. It is acknowledged and agreed that reasonable changes to Exhibit B may be made by the Company at any time to revise the list of competitors and to otherwise update the non-compete terms.

 The foregoing amount shall be the entire amount due for termination by the Company without Cause, and such amount may be
paid in lump sum or, at the Company’s election, over the six (6) month period following the termination date in equal installments in accordance with the Company’s regular payroll periods. 
 Termination by the Company for Cause, or termination by reason of your voluntary termination or resignation, death or disability shall be treated as a
termination For Cause for purposes herein and the foregoing amount shall not be payable. 
  

	 	b.	OPTIONS UPON TERMINATION AND CHANGE OF CONTROL. If there is a Change in Control (as defined below), and your employment is terminated within two (2) months before or six
(6) months following the effective date of the Change of Control for any reason other than (i) by the Company for Cause (as defined above) or (ii) your voluntary resignation or termination, AND provided that you sign a release in the
form set forth at Exhibit A and confirm your agreement to be bound by the non-compete terms set forth at Exhibit B, any remaining unvested options that have been granted to you shall become fully vested on the effective date of your termination
hereunder and become exercisable for all or any portion of those shares as fully-vested shares of Common Stock. Each such option accelerated in connection with a Change of Control shall remain exercisable until the expiration or sooner termination
of the respective option term. This accelerated vesting shall be in lieu of any cash severance based upon your base salary or target incentive cash payment or other amounts which may otherwise be due to you hereunder, and shall be the entire amount
due for termination by the Company if there is a Change in Control (as defined below) and your employment is terminated by the Company without Cause within two (2) months before or six (6) months following the effective date of the Change
of Control (as defined below). 

 Termination by reason of your voluntary termination or resignation, death or disability shall
be treated as a termination For Cause for purposes of this Section 11 and the foregoing acceleration shall not be made. 
 CHANGE OF
CONTROL. For purposes hereunder, “Change of Control” shall mean a change in ownership or control of the Company effected through any of the following transactions: 
  

	 	(i)	a merger, consolidation or reorganization approved by the Company’s stockholders, unless securities representing more than fifty percent (50%) of the total combined
voting power of the voting securities of the successor corporation are immediately thereafter beneficially owned, directly or indirectly and in substantially the same proportion, by the persons who beneficially owned the Company’s outstanding
voting securities immediately prior to such transaction. 

  

	 	(ii)	any stockholder-approved transfer or other disposition of all or substantially all of the Company’s assets, or 

  

	 	(iii)	 the acquisition, directly or indirectly by any person or related group of persons (other than the Company 

  

 5395 Pearl Parkway • Boulder, CO 80301 • 303.442.5455 • Fax 303.443.5908 •
http://www.carrieraccess.com 
  

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or 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 1934 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 stockholders which the Board recommends such stockholders accept. 

  

	 	c.	GROSS UP PAYMENT. Anything herein to the contrary notwithstanding, in the event it shall be determined that any payment or distribution by the Company to or for the benefit of you
would be subject to excise tax imposed by Section 4999 of the Internal Revenue Code, or any interest or penalties are incurred by you with respect such excise tax, then you shall be entitled to receive an additional payment (“Gross Up
Payment”) equal to the amount of the excise tax and penalties related thereto together with any additional excise tax, income taxes and penalties as a consequence of the Gross Up Payment. 

  

	 	d.	SOLE REMEDY AND TERMINATION OF PAYMENTS. This Section sets forth the entire amounts payable to you upon termination of your employment with the Company. In no event will any
severance, option vesting acceleration, or other amount be payable to you due to termination by the Company for Cause or for termination by reason of your voluntary termination or resignation, or your death or disability. The foregoing shall be
construed and enforced in compliance with federal and state law regarding disability, including the Family Medical Leave Act (FMLA). In addition to any and all other remedies that the Company have available to it under law and at equity, including
any remedies set forth in the Employer Protection Agreement and the 1998 Stock Option Plan, if, following the termination of your employment with Company, you are found by a court of competent jurisdiction to have materially breached the provisions
contained in Sections 7 or 9 above, including but not limited to the terms of Exhibit B, Company’s obligation to make any further payments or provide any further benefits to you shall be deemed to have terminated as of the date of such material
breach and you shall be obligated to return any and all payments received since such date. 

 Management reserves the right to change employee
status. The statements contained in this letter are not intended to constitute a contract of employment, either express or implied. 
 In the event any of
the foregoing or any portion thereof shall for any reason be held to be invalid, illegal or unenforceable, the remaining provisions shall be unimpaired, and shall continue in full force and effect. 
 If you have any questions, please feel free to call Karen Grimstvedt our Employment Manager. We trust that you will find employment at Carrier Access to be exciting,
interesting and challenging. You will be a welcome addition to our team. 
  

	
	Sincerely,
	
	/s/ ALLEN SNYDER
	Allen Snyder
	COO
	Carrier Access

 To indicate your acceptance of employment with Carrier Access, please sign and date this letter in the space
provided below and return it along with a signed and dated copy of our Employer Protection Agreement by December 22, 2006. This offer letter and the Employer Protection Agreement set forth the terms of your employment and supercede any prior
representations or agreements whether written or oral. 
  

 5395 Pearl Parkway • Boulder, CO 80301 • 303.442.5455 • Fax 303.443.5908 •
http://www.carrieraccess.com 
  

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 Confidential 
  

 I, David Whalen , acknowledge that I have received this offer of employment and the Employer Protection Agreement and
anticipate my start date to be not later than Monday, January 2, 2007. 
 Accepted: 
  

			
	 /s/ DAVID WHALEN
	 	12-16-06
	David Whalen	 	Date

  

 5395 Pearl Parkway • Boulder, CO 80301 • 303.442.5455 • Fax 303.443.5908 •
http://www.carrieraccess.com 
  

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 Confidential 
  

 EXHIBIT A 
 Form of Release 
 This general release of claims (“Release”) is being executed pursuant to the terms set
forth above relating to Employment terms between me and the Company (the “Agreement”), which Agreement I have willingly executed. Certain capitalized terms used in this Release are defined in the Agreement. 
 I hereby confirm my obligations under the form of the Company’s Employer Protection Agreement including the Non-Compete Terms as set forth in Exhibit B of the
Agreement, which I have previously signed. 
 I, on behalf of myself and my heirs, estate, executors, administrators, successors and assigns, do hereby
release, acquit and forever discharge the Company, its parents and subsidiaries, and their officers, directors, agents, servants, employees, shareholders, successors, assigns and affiliates, of and from any and all claims, liabilities, demands,
causes of action, costs, expenses, attorneys fees, damages, indemnities and obligations of every kind and nature, in law, equity, or otherwise, known and unknown, suspected and unsuspected, disclosed and undisclosed (other than my rights under the
Agreement and any claim for indemnification I may have as a result of any third party action against me based on my employment with the Company), arising out of or in any way related to agreements, events, acts or conduct at any time prior to and
including the date I execute this Release, including, but not limited to: all such claims and demands directly or indirectly arising out of or in any way connected with my employment with the Company or the termination of that employment, including
but not limited to, claims of intentional and negligent infliction of emotional distress, any and all tort claims for personal injury, claims or demands related to salary, bonuses, commissions, stock, stock options, or any other ownership interests
in the Company, vacation pay, fringe benefits, expense reimbursements, severance pay, or any other form of compensation; claims pursuant to any federal, state or local law or cause of action including, but not limited to, the federal Civil Rights
Act of 1964, the federal Age Discrimination in Employment Act of 1967 (“ADEA”), the federal Employee Retirement Income Security Act of 1974, the federal Rehabilitation Act of 1973, the federal Americans with Disabilities Act of 1990, the
federal Fair Labor Standards Act, the federal Family Medical Leave Act, and any amendments to the foregoing laws; tort law; contract law; wrongful discharge; discrimination; fraud; defamation; emotional distress; and breach of the implied covenant
of good faith and fair dealing; provided, however, that nothing in this paragraph shall be construed in any way to release the Company from its obligation to indemnify me pursuant to the Company’s indemnification obligation pursuant to
agreement, its bylaws or applicable law. 
 I agree that the claims released pursuant to this Release include all claims against individual employees,
officers or directors of Carrier Access, whether or not such employees, officers or directors were acting within the scope of their employment. 
 At Carrier
Access’s request, I agree to cooperate fully in connection with any legal matter, proceeding or action relating to Carrier Access. 
 I acknowledge that
I am knowingly and voluntarily waiving and releasing any rights I may have under ADEA. I also acknowledge that the consideration given under the Agreement for the waiver and release in the preceding paragraph hereof is in addition to anything of
value to which I was already entitled. I further acknowledge that I have been advised by this writing, as required by the ADEA, that: (a) my waiver and release do not apply to any rights or claims that may arise on or after the date I execute
this Release; (b) I have the right to consult with an attorney prior to executing this Release; (c) I have twenty-one (21) days to consider this Release (although I may choose to voluntarily execute this Release earlier); (d) I
have seven (7) days following my execution of this Release to revoke the Release; and (e) this Release shall not be effective until the date upon which the revocation period has expired, which shall be the eighth (8th) day after I
execute this Release. 
  

 5395 Pearl Parkway • Boulder, CO 80301 • 303.442.5455 • Fax 303.443.5908 •
http://www.carrieraccess.com 
  

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 EXHIBIT B 
 Non-Compete Terms 
  

	1.	UPON TERMINATION BY THE COMPANY WITHOUT CAUSE. If your employment is terminated by the Company without Cause (as set forth in Sections 10 and 11 of your employment offer letter),
the Company has agreed to continue to pay six (6) month’s base salary in lieu of any severance based upon your base salary or target incentive cash bonus payable or other amounts which may otherwise be due to you by the Company.

  

	2.	UPON TERMINATION AND CHANGE OF CONTROL. If there is a Change in Control (as defined in Section 11(b) of your employment offer letter), and your employment is terminated by the
Company without Cause within two (2) months before or six (6) months following the effective date of the Change of Control, the Company has agreed that your unvested options shall become fully vested on the effective date of Your
termination, all as more fully provided in §11 of your employment offer letter. 

  

	3.	NON-COMPETITION AND NON-SOLICITATION. In your role as Executive Vice President—Worldwide Customer Sales and Service at the Company, you acknowledge that you will have acquired
knowledge of sensitive and confidential information relating to product development road maps, marketing plans, competitive plans and pricing strategies and trade secrets (the “Confidential Information”). Were you to directly or indirectly
be engaged in any business in direct competition with the Company or its subsidiaries, you acknowledge that Confidential Information could readily be used by you and provide the competing business with a significant competitive advantage against the
Company. Therefore, as a necessary condition to your entitlement to such payments under §11 of the offer letter, you agree that during your employment with the Company and for a period ending twelve (12) months from the termination of your
employment with the Company (“Covenant Period”), you will not to compete with the Company as more fully described below. Should you violate the terms of your offer letter, including full compliance with the terms of §7, §9 and
those terms specifically set forth below, the Company shall not be required to make any future payments to you and it shall be entitled to recover prior payments made to you during your employment and pursuant to §11 of the offer letter.

  

	 	A.	NON-COMPETE. During the Covenant Period, you shall not within the Covenant Area (as defined below) in any manner, directly or indirectly, including through another person, firm,
corporation, partnership, joint venture, trust, sole proprietorship, unincorporated business association, limited liability company, or other entity (collectively, “Other Persons”): 

  

	 	i.	Operate, engage, or participate (including as an owner, operator, investor, employee, agent, officer, stockholder, director, partner, member, principal, proprietor, manager,
trustee, contractor, creditor, consultant, or in any other capacity whatsoever, hereinafter “in any capacity”) in the business of communications equipment design, development, and production and business activities conducted in furtherance
thereof by the Company (or any of its affiliates) prior to termination of your employment with the Company (the “Business”), or perform in any capacity services for Other Persons which are competitive with the Business; or

  

	 	ii.	Directly or indirectly through one or more affiliated persons or entities own beneficially or otherwise in whole or part any interest in any business which, in any capacity, engages
or participates in a competitive business with the Business. 

 For purposes herein, it is specifically agreed that the
following entities shall be considered as being competitive with the Business, without limitation: small independent system integrators that engage or participate in a competitive business with the Business; private and public companies that engage
or participate in a competitive business, including but not limited to, Adtran, Inc., Audiocodes, Cisco Systems, Inc., Eastern Research, Inc., Lucent Technologies, Inc., Natural Microsystems, RAD, Sycamore Networks, Telco Systems, Inc., Tellabs,
Inc., Zhone Technologies, Inc. (or any of their subsidiaries or affiliates controlled by or under common control with the respective entity or any business, division, or product group thereof); and such other companies or entities as identified in
the Company’s SEC 10Q and 10K filings during your employment and within twelve (12) months thereafter. A company or entity shall be considered to be competitive to the Company if any of its business, 

  

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divisions, or product groups is engaged in or has taken concrete steps toward engaging in the business of providing development, sales, manufacturing
services, software or installation and services for data networking, transport and backhaul products for communications service providers for use in wireline or wireless networks, either as being carried on or developed by the Company or its
affiliates as of the date of your termination and for twelve (12) months thereafter. 
 You shall be deemed in violation of this Exhibit
B and the terms of the offer letter if you: (i) engage in a business competitive with the Business, or any part thereof, in the Covenant Area, in any capacity, whether or not for compensation, and whether for your own account or for that of one
or more Other Persons; or (ii) hold legal or beneficial interest, in any capacity, in any Other Persons engaged in a business competitive with the Business in the Covenant Area; or (iii) in any capacity, carry on or engage in any
activities or negotiations with respect to the organization, formation, acquisition, or the disposition of a business competitive with the Business in the Covenant Area; or (iv) give advice related to the Business, in any capacity, to any Other
Persons engaging in a business competitive with the Business in the Covenant Area; or (v) lend or allow your name or reputation to be used in a business competitive with the Business in the Covenant Area; or (vi) solicit, divert, or
attempt to divert from the Company (or any affiliates) any business constituting, or any customer of, or any supplier of, any part of the Business conducted by the Company (or any affiliates) in the Covenant Area; or (vii) allow your skill,
knowledge, or experience related to the Business to be used in a business competitive with the Business in the Covenant Area. Notwithstanding the foregoing, you may own, directly or indirectly, securities of any entity traded on any national
securities exchange or automated quotation system if you are not a controlling person of, or a member of a group which controls such entity, and you do not, directly or indirectly, “beneficially own” (as defined in Rule 13d-3 of the
Securities Exchange Act of 1934, as amended, without regard to the sixty (60) day period referred to in Rule 13d-3(d)(1)(i)), one percent (1.0%) or more of any class of securities of such entity. 
 Covenant Area. For the purposes herein, the term “Covenant Area” shall be and mean all cities, counties, states, and countries in North
America, South America, Asia, Middle East and Europe, in which the business of the Company or its affiliates is then being conducted, its services are being provided or its products are being sold. 
  

	 	B.	NON-SOLICITATION. In addition to the foregoing, you shall not during the Covenant Period, as defined above, induce or attempt to induce any person (i) engaged or employed
currently or within the prior twelve (12) months (whether part-time or full-time) by any of the Company (or any of its Affiliates), in any capacity, to leave the employ of or engagement with any of the Company (or any of its Affiliates), or to
cease providing the services to or on behalf of any of the Company (or any of its Affiliates), then provided by such person, or in any other manner seek to engage or employ any such person (whether or not for compensation) in any capacity, or
(ii) that is then or has been within the twelve (12) months prior to your cessation of employment with the Company a customer or supplier with respect to the Business to do business with any other persons or entities so as to interfere, in
any way, directly or indirectly, with the business relationship between any of the Company (or any of its Affiliates)and any of their customers or suppliers. 

 You acknowledge that the Company may be irreparably harmed if you default in your obligations under this Exhibit B and that it would be extremely impracticable to measure the resulting damages. Accordingly, the
Company, in addition to any other available rights or remedies, may sue in equity for specific performance to enforce its rights under this Exhibit B, and you expressly waive the defense that a remedy in damages will be adequate for such a default.

 The parties intend that the covenants and agreements contained in this Exhibit B and the offer letter shall be deemed to be a series of
separate covenants and agreements. If, in any judicial proceeding, a court shall refuse to enforce all of the separate covenants deemed included in this Exhibit B and the offer letter, then such unenforceable covenants shall be deemed eliminated
from the provisions herein for the purpose of such proceeding to the extent necessary to permit the remaining separate covenants to be enforced in such proceeding. If any one or more of the covenants contained in this Agreement is for any reason
held to be excessively broad as to duration, geographical scope, activity or subject, the parties request that the applicable court construe it by limiting and reducing it, so as to be enforceable to the extent compatible with the applicable law as
then in effect. 
  

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 9Form of Shared Performance Stock Award Agreement

  
 Exhibit 10.17 
 SHARED PERFORMANCE STOCK AWARD AGREEMENT UNDER THE MICROSOFT CORPORATION 2001 STOCK PLAN 
 (Executive Officer Agreement) 
 Award Number <<GrantIdentifier>> 
 1.    Award of Target Shared Performance Stock Awards.    Microsoft Corporation (the “Company” or “Microsoft”),
in the exercise of its sole discretion pursuant to the Microsoft Corporation 2001 Stock Plan (the “Plan”), does on <<GrantDate>> (the “Award Date”) hereby award to <<FullName>> (the
“Awardee”) <<shares granted quantity>> target Shared Performance Stock Awards (target “SPSAs”) upon the terms and subject to the conditions of this Award Agreement.
 Target SPSAs are used solely to calculate the number of actual SPSAs awarded to Awardee in accordance with this Award Agreement, and do not create any separate
rights or entitlements. ACTUAL SPSAs ARE CALCULATED FOLLOWING THE END OF THE COMPANY’S FISCAL YEAR ENDING IN 2007 (“FY07”) BASED ON THE METRICS AND METHODOLOGIES SET FORTH IN APPENDIX A, AND BASED ON ANY ADJUSTMENTS IN TARGET SPSAs
DUE TO EMPLOYMENT CHANGES AS DESCRIBED IN SECTION 3(b) BELOW AND ANY CHANGES TO APPENDIX A PERMITTED UNDER THIS AGREEMENT. 
 SPSAs represent the
Company’s unfunded and unsecured promise to issue Common Shares at a future date, subject to the terms of this Award Agreement and the Plan. Awardee has no rights under the SPSAs other than the rights of a general unsecured creditor of the
Company. 
 Capitalized terms used but not defined in this Award Agreement shall have the meanings assigned to them in the Plan. 
 2.    Calculation of SPSAs.    Following the end of FY07, the Awardee’s actual SPSAs will be calculated by
multiplying the target SPSAs by the percentage that is determined by the Compensation Committee of the Company’s Board of Directors (“Committee”), in its sole discretion, in accordance with Appendix A. In calculating the number of
actual SPSAs, target SPSAs will be determined after taking into account any adjustments due to employment changes, as described in Section 3(b) below. The actual number of SPSAs shall be reduced to the extent required by any rounding rules that
may be set forth in Appendix A. 
 Notwithstanding the foregoing, compensation attributable to this Award Agreement is intended to constitute qualified
performance-based compensation under Section 162(m) of the Code and the regulations thereunder, and this Award Agreement shall be construed and administered by the Committee in a manner consistent with this intent. Accordingly, notwithstanding
this Section or any other provision of this Award Agreement, to the extent required to ensure that compensation attributable to this Award Agreement constitutes qualified performance-based compensation under Section 162(m) of the Code:

 (a) The percentage calculation and the metrics set forth in Appendix A, and the Company’s SPSA Administrative Policies described in
Section 3(b), as they apply to Awardee, shall not be revised in a manner that would result in an increase in the actual SPSAs the Awardee is entitled to receive under this Award Agreement, except for an adjustment under Section 14 of the
Plan as and to the extent permitted under Section 162(m) of the Code; and 
 (b) Payment of compensation attributable to this Award Agreement shall
be subject to the Company’s shareholders approving the material terms of the award in accordance with the requirements of Section 162(m) of the Code. 
 Subject to the limitations of Section 162(m) of the Code set forth above, if there is a significant change in the Company’s business or business strategy (for example, by a merger, acquisition or divestiture), as the
Committee determines in its sole discretion, the Committee may adjust the percentage calculation set forth in Appendix A by changing the metrics, weights, performance levels and/or measurements set forth in Appendix A as it considers appropriate in
light of the change. 
  

  
 

			
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 3.    Vesting
Schedule and Conversion of SPSAs; Adjustments upon Employment Changes. 
 (a)    Subject to the terms of this Award Agreement
and the Plan and provided that Awardee remains continuously employed throughout the vesting periods set out below: 
 (1)    25% of
the SPSAs shall vest and be converted into an equivalent number of Common Shares that will be distributed to the Awardee on or about August 31, 2007 (the “initial vest date”); 
 (2)    25% of the SPSAs shall vest and be converted into an equivalent number of Common Shares that will be distributed to the Awardee one year
from the initial vest date; 
 (3)    25% of the SPSAs shall vest and be converted into an equivalent number of Common Shares that
will be distributed to the Awardee two years from the initial vest date; and 
 (4)    25% of the SPSAs shall vest and be converted
into an equivalent number of Common Shares that will be distributed to the Awardee three years from the initial vest date. 
 Fractional SPSAs shall be
converted into Common Shares as set out in Section 10(c) of this Award Agreement. 
 (b) THE AWARDEE’S RIGHTS IN THE SPSAs SHALL BE
SUBJECT TO INCREASE, DECREASE, LOSS OR MAY BE OTHERWISE AFFECTED, WITH REGARD TO AWARD ELIGIBILITY, SIZE, VESTING AND TERMINATION, BY HIRE DATE OR CHANGES IN LEVEL, PROMOTION AND DEMOTION, LEAVES OF ABSENCE, PART-TIME EMPLOYMENT, DISABILITY, TEAM
AND OTHER CHANGES IN AWARDEE’S EMPLOYMENT AS PROVIDED IN THE COMPANY’S CURRENT SPSA ADMINISTRATIVE POLICIES, WHICH MAY VARY FROM THE POLICIES ON STOCK OPTIONS AND STOCK AWARDS. ACCOMPANYING THIS AWARD AGREEMENT IS A CURRENT COPY OF
THE COMPANY’S POLICIES IN SUCH MATTERS. THESE POLICIES SHALL BE APPROVED AND ADMINISTERED BY THE COMPENSATION COMMITTEE OF THE COMPANY’S BOARD AND MAY CHANGE FROM TIME TO TIME, WITHOUT NOTICE, IN THE COMPANY’S SOLE DISCRETION.
AWARDEE’S RIGHTS WILL BE GOVERNED BY THE POLICIES IN EFFECT AT THE TIME OF ANY EVENT OR CHANGE COVERED BY THE POLICIES. CONTACT “BENEFITS” FOR A COPY OF THE MOST CURRENT POLICY STATEMENT AT ANY POINT IN TIME. 
 4.    Termination at Conversion of SPSAs.    Unless terminated earlier under Section 5, 6, 7 or 8 below, an
Awardee’s rights under this Award Agreement with respect to the SPSAs issued under this Award Agreement shall terminate at the time such SPSAs are converted into Common Shares. 
 5.    Termination of Awardee’s Status as a Participant.    Except as otherwise specified in Sections 6, 7 and 8
below, in the event of termination of Awardee’s Continuous Status as a Participant (as such term is defined in Section 2(j) of the Plan), Awardee’s rights under this Award Agreement in any unvested SPSAs shall terminate. For the
avoidance of doubt, an Awardee’s Continuous Status as a Participant terminates at the time the Awardee’s actual employer ceases to be the Company or a “Subsidiary” of the Company, as that term is defined in Section 2(y) of
the Plan. 
 6.    Disability of Awardee.    Notwithstanding the provisions of Section 5 above, in
the event of termination of Awardee’s Continuous Status as a Participant as a result of total and permanent disability (as such term is defined in Section 12(c) of the Plan), then: 
 (1)    If the termination of Awardee’s Continuous Status as a Participant occurs during FY07, Awardee shall vest in any SPSAs calculated by
multiplying the target SPSAs by 0.25, rounded up to the nearest whole number; and 
 (2)    If the termination of Awardee’s
Continuous Status as a Participant occurs after FY07, then the next vesting date for the SPSAs set forth in Section 3(a) above, shall accelerate so that Awardee vests in any SPSAs that would normally vest within twelve (12) months of the
earlier of (i) such date of termination, or (ii) if Awardee’s disability originally required him or her to take a short-term disability leave which was later converted into long-term disability, the date of commencement of the
short-term disability leave. 
 The Awardee’s rights in any unvested SPSAs that remain unvested after the application of this Section 6 shall
terminate at the time Awardee ceases to be in Continuous Status as a Participant. An employee who fails to provide Microsoft with a medical determination of “total and permanent disability” that is acceptable to Microsoft and that
establishes total and permanent disability to Microsoft’s satisfaction shall not be eligible for the vesting of SPSAs pursuant to this Section 6.
 7.    Death of Awardee.    Notwithstanding the provisions of Section 5 above, in the event of the death of Awardee while in Continuous Status as a Participant, then: 
 (1)    If the death occurs during FY07, then Awardee shall vest in a number of SPSAs calculated by multiplying the target SPSAs by 0.25, rounded
up to the nearest whole number; and 
 (2)    If the death occurs after FY07, then the next vesting date for the SPSAs set forth in
Section 3(a) above, shall accelerate so that Awardee vests in any SPSAs that would normally vest within twelve (12) months of the date of death. 
  

  
 

			
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 The Awardee’s rights in any
unvested SPSAs that remain unvested after the application of this Section 7 shall terminate at the time of the Awardee’s death. 
 8.    Retirement of Awardee.    Notwithstanding the provisions of Section 5 above, in the event of the Awardee’s Retirement, the Awardee shall be treated as continuously employed
through the vesting periods in Section 3(a) above. For this purpose, “Retirement” means termination of employment with the Company or its direct and indirect subsidiaries after the earlier of (a) age 65, or (b) attaining age
55 and 15 years of Continuous Service. 
 This Section 8 will only apply to a Retirement if (a) the Retirement is more than one year after the
Award Date, (b) the Awardee executes a release in conjunction with the Retirement in the form provided by the Company, and (c) the Awardee’s employment does not terminate due to misconduct (as determined in the Committee’s sole
discretion), including but not limited to misconduct in violation of Company policy and misconduct that adversely affects the Company’s interests or reputation. 
 For purposes of this Section 8, “Continuous Service” means that the Awardee has continuously remained an employee of the Company or its direct and indirect subsidiaries, measured from the Awardee’s
“most recent hire date” as reflected in the Company records. For an Awardee who became an employee of the Company following the acquisition of his or her employer by the Company or its direct or indirect subsidiaries, service with the
acquired employer shall count toward Continuous Service, and Continuous Service shall be measured from the Awardee’s acquired company hire date as reflected in the Company’s records. 
 9.    Value of Unvested SPSAs.    In consideration of the award of these SPSAs, Awardee agrees that upon and
following termination of Awardee’s Continuous Status as a Participant for any reason (whether or not in breach of applicable laws), and regardless of whether Awardee is terminated with or without cause, notice, or pre-termination procedure or
whether Awardee asserts or prevails on a claim that Awardee’s employment was terminable only for cause or only with notice or pre-termination procedure, any unvested SPSAs under this Award Agreement shall be deemed to have a value of zero
dollars ($0.00). 
 10.    Conversion of SPSAs to Common Shares; Responsibility for Taxes.
 (a)    Provided Awardee has satisfied the requirements of Section 10(b) below, on the vesting of any SPSAs such vested SPSAs shall be
converted into an equivalent number of Common Shares that will be distributed to Awardee 10 days after the date of the vesting event, or in the event of the Awardee’s death, to Awardee’s legal representative 10 days after such
representative provides proof of death to, and in the manner prescribed by, the Company. The distribution to the Awardee, or in the case of the Awardee’s death, to the Awardee’s legal representative, of Common Shares in respect of the
vested SPSAs shall be evidenced by a stock certificate, appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company, or other appropriate means as determined by the Company. In the event ownership or
issuance of Common Shares is not feasible due to applicable exchange controls, securities regulations, tax laws or other provisions of applicable law, as determined by the Company in its sole discretion, Awardee, or in the event of Awardee’s
death, the Awardee’s legal representative, shall receive cash proceeds in an amount equal to the value of the Common Shares otherwise distributable to Awardee, as determined by the Company in its sole discretion, net of amounts withheld in
satisfaction of the requirements of Section 10(b) below. 
 (b)    Regardless of any action the Company or Awardee’s
actual employer takes with respect to any or all income tax (including federal, state and local taxes), social insurance, payroll tax or other tax-related withholding (“Tax Related Items”), Awardee acknowledges that the ultimate liability
for all Tax Related Items legally due by Awardee is and remains Awardee’s responsibility and that the Company and/or the Awardee’s actual employer (i) make no representations or undertakings regarding the treatment of any Tax Related
Items in connection with any aspect of the SPSAs, including the grant of the SPSAs, the vesting of SPSAs, the conversion of the SPSAs into Common Shares or the receipt of an equivalent cash payment, the subsequent sale of any Common Shares acquired
and the receipt of any dividends; and (ii) do not commit to structure the terms of the grant or any aspect of the SPSAs to reduce or eliminate the Awardee’s liability for Tax Related Items. 
 Prior to the issuance of Common Shares upon vesting of the SPSAs or the distribution of an equivalent cash payment as provided in Section 10(a) above, Awardee
shall pay, or make adequate arrangements satisfactory to the Company or to the Awardee’s actual employer (in their sole discretion) to satisfy all withholding obligations of the Company and/or the Awardee’s actual employer. In this
regard, Awardee authorizes the Company or the Awardee’s actual employer to withhold all applicable Tax Related Items legally payable by Awardee from Awardee’s wages or other cash compensation payable to Awardee by the Company or the
Awardee’s actual employer. Alternatively, or in addition, if permissible under applicable law, the Company or the Awardee’s actual employer may, in their sole discretion, (i) sell or arrange for the sale of Common Shares to be
issued upon the vesting of SPSAs to satisfy the 

  

  
 

			
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withholding obligation, and/or (ii) withhold in Common Shares, provided that the Company and the Awardee’s actual employer shall withhold only the amount of
shares necessary to satisfy the minimum withholding amount. Awardee shall pay to the Company or to the Awardee’s actual employer any amount of Tax Related Items that the Company or the Awardee’s actual employer may be required to
withhold as a result of Awardee’s receipt of SPSAs, the vesting of SPSAs, or the conversion of vested SPSAs to Common Shares that cannot be satisfied by the means described in this paragraph. Except where applicable legal or regulatory
provisions prohibit, the standard process for the payment of an Awardee’s Tax Related Items shall be for the Company or the Awardee’s actual employer to withhold in Common Shares only to the amount of shares necessary to satisfy the
minimum withholding amount. The Company may refuse to deliver Common Shares to Awardee if Awardee fails to comply with Awardee’s obligation in connection with the Tax Related Items as described in this Section 10. 
 (c)    In lieu of issuing fractional Common Shares, on the vesting of a fraction of a SPSA, the Company shall round the shares to the nearest
whole share and any such share which represents a fraction of a SPSA will be included in a subsequent vest date.
 (d)    Until the
distribution to Awardee of the Common Shares in respect of the vested SPSAs is evidenced by a stock certificate, appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company, or other appropriate means, Awardee
shall have no right to vote or receive dividends or any other rights as a shareholder with respect to such Common Shares, notwithstanding the vesting of SPSAs. The Company shall cause such distribution to Awardee to occur upon the vesting of
SPSAs in accordance with Section 10(a) above. No adjustment will be made for a dividend or other right for which the record date is prior to the date Awardee is recorded as the owner of the Common Shares, except as provided in Section 14
of the Plan. 
 (e)    By accepting the Award of SPSAs evidenced by this Award Agreement, Awardee agrees not to sell any of the
Common Shares received upon account of vested SPSAs at a time when applicable laws or Company policies prohibit a sale. This restriction shall apply so long as Awardee is an Employee, Consultant or outside director of the Company or a
Subsidiary of the Company. 
 11.    Non-Transferability of SPSAs.    Awardee’s right in the SPSAs
awarded under this Award Agreement and any interest therein may not be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner, other than by will or by the laws of descent or distribution. SPSAs shall not be subject to
execution, attachment or other process. 
 12.    Acknowledgment of Nature of Plan and SPSAs.    In
accepting the Award, Awardee acknowledges that: 
 (a)    the Plan is established voluntarily by the Company, it is discretionary in
nature and may be modified, amended, suspended or terminated by the Company at any time, as provided in the Plan; 
 (b)    the
Award of SPSAs is voluntary and occasional and does not create any contractual or other right to receive future awards of SPSAs, or benefits in lieu of SPSAs even if SPSAs have been awarded repeatedly in the past; 
 (c)    all decisions with respect to future awards, if any, will be at the sole discretion of the Company; 
 (d)    Awardee’s participation in the Plan is voluntary; 
 (e)    the future value of the underlying Common Shares is unknown and cannot be predicted with certainty; 
 (f)    if Awardee receives Common Shares, the value of such Common Shares acquired on vesting of SPSAs may increase or decrease in value; 
 (g)    notwithstanding any terms or conditions of the Plan to the contrary and consistent with Section 5 above, in the event of termination of Awardee’s employment under circumstances where
Section 8 does not apply (whether or not in breach of applicable laws), Awardee’s right to receive SPSAs and vest under the Plan, if any, will terminate effective as of the date that Awardee is no longer actively employed and will not be
extended by any notice period mandated under applicable law; furthermore, in the event of termination of employment under circumstances where Section 8 does not apply (whether or not in breach of applicable laws), Awardee’s right to
receive Common Shares pursuant to the SPSAs after termination of employment, if any, will be calculated as of the date of termination of Awardee’s active employment and will not be extended by any notice period mandated under applicable law;
the Board of Directors or Committee shall have the exclusive discretion to determine when Awardee is no longer actively employed for purposes of the award of SPSAs; 
 (h)    Awardee acknowledges and agrees that, regardless of whether Awardee is terminated with or without cause, notice or pre-termination procedure or whether Awardee asserts or prevails on a claim that
Awardee’s employment was terminable only for cause or only with notice or pre-termination procedure, Awardee has no right to, and will not bring any legal claim or action for, (a) any damages for any portion of the SPSAs that have been
vested and converted into Common Shares, or (b) termination of any unvested SPSAs under this Award Agreement; and 
  

  
 

			
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 (i)    Awardee
promises never to pursue any claim relating to the Plan or this Award Agreement before (1) notifying the Company in writing of Awardee’s claim within thirty (30) days after Awardee first knows or should have known the facts on
which the claim is based, (2) if requested by the Company to do so within thirty (30) days after so notifying the Company, participating in good faith in any nonbinding dispute resolution procedure the Company prescribes, and
(3) keeping Awardee’s claim completely confidential, except to the minimum extent needed to pursue the claim, until all the requirements of this subsection have been satisfied. The dispute resolution procedure the Company prescribes
shall be paid for by the Company and must be reasonably capable of being completed within ninety (90) days after the Awardee is requested to use it. Awardee agrees that his or her right to any awards, stock or amounts under this Award
Agreement are conditioned on Awardee’s strictly complying with the requirements of this subsection. 
 13.    Data
Privacy Notice and Consent.    Awardee hereby explicitly and unambiguously consents to the collection, use and transfer, in electronic or other form, of Awardee’s personal data as described in this Award Agreement by and
among, as applicable, Awardee’s employer, the Company, its Subsidiaries and its affiliates for the exclusive purpose of implementing, administering and managing Awardee’s participation in the Plan. 
 Awardee understands that the Company and Awardee’s employer may hold certain personal information about Awardee, including, but not limited to,
Awardee’s name, home address and telephone number, date of birth, social insurance number or other identification number, salary, nationality, job title, any shares of stock or directorships held in the Company, details of all SPSAs or any
other entitlement to Common Shares awarded, canceled, vested, unvested or outstanding in Awardee’s favor, for the purpose of implementing, administering and managing the Plan (“Data”). Awardee understands that Data may be transferred
to any third parties assisting in the implementation, administration and management of the Plan, that these recipients may be located in Awardee’s country, or elsewhere, and that the recipient’s country may have different data privacy laws
and protections than Awardee’s country. Awardee understands that Awardee may, to the extent required by local law, request a list with the names and addresses of any potential recipients of the Data by contacting Awardee’s local human
resources representative. Awardee authorizes the recipients to receive, possess, use, retain and transfer the Data, in electronic or other form, for the purposes of implementing, administering and managing Awardee’s participation in the Plan,
including any requisite transfer of such Data as may be required to a broker, escrow agent or other third party with whom the Common Shares received upon vesting of the SPSAs may be deposited. Awardee understands that Data will be held only as long
as is necessary to implement, administer and manage Awardee’s participation in the Plan. Awardee understands that Awardee may to the extent required by local law, at any time, view Data, request additional information about the storage and
processing of Data, require any necessary amendments to Data or refuse or withdraw the consents herein, in any case without cost, by contacting in writing Awardee’s local human resources representative. Awardee understands that refusal or
withdrawal of consent may affect Awardee’s ability to participate in the Plan. For more information on the consequences of Awardee’s refusal to consent or withdrawal of consent, Awardee understands that Awardee may contact Awardee’s
local human resources representative. 
 14.    No Employment Right; Effect of Relocation Outside
U.S.A.    Awardee acknowledges that neither the fact of this Award of SPSAs nor any provision of this Award Agreement or the Plan or the policies adopted pursuant to the Plan shall confer upon Awardee any right with respect
to employment or continuation of current employment with the Company or with the Awardee’s actual employer, or to employment that is not terminable at will. Awardee further acknowledges and agrees that neither the Plan nor this Award of
SPSAs makes Awardee’s employment with the Company or the Awardee’s actual employer for any minimum or fixed period, and that such employment is subject to the mutual consent of Awardee and the Company or the Awardee’s actual employer,
and may be terminated by either Awardee or the Company or the Awardee’s actual employer at any time, for any reason or no reason, with or without cause or notice or any kind of pre- or post-termination warning, discipline or procedure. In the
event Awardee’s employment with the Company is relocated outside the United States, this Stock Award Agreement shall be amended to include such provisions regarding employment rights with respect to the SPSAs as the Company, in its sole
discretion, has determined to be appropriate for inclusion in SPSA Award Agreements for the location to which Awardee relocates. 
 15.    Administration.    The authority to manage and control the operation and administration of this Award Agreement shall be vested in the Committee (as such term is defined in
Section 2(f) of the Plan), and the Committee shall have all powers and discretion with respect to this Award Agreement as it has with respect to the Plan. Any interpretation of the Award Agreement by the Committee and any decision made by
the Committee with respect to the Award Agreement shall be final and binding on all parties. 
  

  
 

			
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 16.    Plan
Governs.    Notwithstanding anything in this Award Agreement to the contrary, the terms of this Award Agreement shall be subject to the terms of the Plan, and this Award Agreement is subject to all interpretations,
amendments, rules and regulations promulgated by the Committee from time to time pursuant to the Plan. 
 17.    Notices.    Any written notices provided for in this Award Agreement which are sent by mail shall be deemed received three business days after mailing, but not later than the date of
actual receipt. Notices shall be directed, if to Awardee, at the Awardee’s address indicated by the Company’s records and, if to the Company, at the Company’s principal executive office. 
 18.    Electronic Delivery.    The Company may, in its sole discretion, decide to deliver any documents related to
SPSAs awarded under the Plan or future SPSAs that may be awarded under the Plan by electronic means or request Awardee’s consent to participate in the Plan by electronic means. Awardee hereby consents to receive such documents by
electronic delivery and agrees to participate in the Plan through an on-line or electronic system established and maintained by the Company or another third party designated by the Company. 
 19.    Acknowledgment.    By Awardee’s acceptance as evidenced below, Awardee acknowledges that Awardee has
received and has read, understood and accepted all the terms, conditions and restrictions of this Award Agreement, the Plan, and the current SPSA Administrative Policies referenced in Section 3(b) of this Award Agreement. Awardee
understands and agrees that this Award Agreement is subject to all the terms, conditions, and restrictions stated in this Award Agreement and in the other documents referenced in the preceding sentence, as the latter may be amended from time to time
in the Company’s sole discretion. 
 20.    Committee Approval.    These SPSAs have been awarded
pursuant to the Plan and accordingly this Award of SPSAs is subject to approval by the Committee. If this Award of SPSAs has not already been approved by the Committee, the Company agrees to submit this Award for approval as soon as
practical. If such approval is not obtained, this award is null and void. 
 21.    Governing
Law.    This Award Agreement shall be governed by the laws of the State of Washington, U.S.A., without regard to Washington laws that might cause other law to govern under applicable principles of conflicts of law. For
purposes of litigating any dispute that arises under this Award of SPSAs or this Award Agreement, the parties hereby submit to and consent to the jurisdiction of the State of Washington, and agree that such litigation shall be conducted in the
courts of King County, Washington, or the federal courts for the United States for the Western District of Washington, and no other courts, where this Award of SPSAs is made and/or to be performed. This Award Agreement is not subject to the Employee
Retirement Income Security Act of 1974, as amended (“ERISA”). 
 22.    Severability.    If one
or more of the provisions of this Award Agreement shall be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby and the
invalid, illegal or unenforceable provisions shall be deemed null and void; however, to the extent permissible by law, any provisions which could be deemed null and void shall first be construed, interpreted or revised retroactively to permit this
Award Agreement to be construed so as to foster the intent of this Award Agreement and the Plan. 
 23.    Internal Revenue Code
section 409A.    This Award Agreement shall be interpreted, operated, and administered in a manner so as not to subject the Awardee to the assessment of additional taxes or interest under Code section 409A, and this Award
Agreement shall be amended as the Company, in its sole discretion, determines is necessary and appropriate to avoid the application of any such taxes or interest. 
 24.    Executive Compensation Recovery Policy.    To the extent provided in the Company’s Executive Compensation Recovery Policy (as it may be amended, and potentially
renamed, from time to time), this Award Agreement shall be cancelled and Awardee shall reimburse the Company for the number of Common Shares issued under this Award Agreement, including any common shares withheld to satisfy income tax withholding.

 25.    Complete Award Agreement and Amendment.    This Award Agreement (which includes the
calculations made in accordance with Appendix A and the SPSA Administrative Policies referenced in Section 3(b), each as modified from time to time), the Notice of Receipt of Stock Awards (if any), and the Plan constitute the entire agreement
between Awardee and the Company regarding this award of SPSAs. Any prior agreements, commitments or negotiations concerning these SPSAs are superseded. This Award Agreement may be amended only by written agreement of Awardee and the
Company, except that (i) Appendix A and the SPSA Administrative Policies referenced in Section 3(b) may be modified by the Company as described in this Award Agreement from time to time, and (ii) no agreement by an Awardee is required
if the amendment, in the reasonable judgment of the Company, confers a benefit on the Awardee. Awardee agrees not to rely on any oral information regarding this Award of SPSAs or any written materials not identified in this Section 25.

  

  
 

			
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 EXECUTED the day and
year first above written. 
 MICROSOFT CORPORATION 
 Lisa Brummel, 
 << >> 
 Senior Vice President, Human Resources 
 AWARDEE’S ACCEPTANCE: 
 I have read and fully understood this Award Agreement and, as referenced in Section 19 above, I accept and agree to be bound by all of the terms, conditions and restrictions
contained in this Award Agreement and the other documents referenced in it. I intend to express my acceptance of the Award and this Award Agreement by typing my name in the Awardee acceptance window provided in “step 2” of the award
acceptance checklist, and I further intend the typing of my name to have the same force and effect in all respects as a handwritten signature. 
  

  
 

			
	PAGE	 	7

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