Document:

Amended and Restated Stock Incentive Plan

 Exhibit 4.1 
  
 FIFTH AMENDED AND RESTATED 
 OMNI ENERGY SERVICES CORP. 
 STOCK INCENTIVE PLAN 
  
 1. Purpose. The purpose of the Stock Incentive Plan (the “Plan”) of
OMNI Energy Services Corp. (“OMNI”) is to increase stockholder value and to advance the interests of OMNI and its subsidiaries (collectively, the “Company”) by furnishing a variety of economic incentives (the
“Incentives”) designed to attract, retain and motivate key employees, officers and directors and to strengthen the mutuality of interests between such employees, officers and directors and OMNI’s stockholders. Incentives consist of
opportunities to purchase or receive shares of common stock, $.01 par value per share, of OMNI (the “Common Stock”), on terms determined under the Plan. As used in the Plan, the term “subsidiary” means any corporation of which
OMNI owns (directly or indirectly) within the meaning of Section 425(f) of the Internal Revenue Code of 1986, as amended (the “Code”), 50% or more of the total combined voting power of all classes of stock. 
  
 2. Administration. 
  
 2.1. Composition. The Plan shall be administered by the
Compensation Committee of the Board of Directors of OMNI or by a subcommittee thereof (the “Committee”). The Committee shall consist of not fewer than two members of the Board of Directors, each of whom shall (a) qualify as a
“non-employee director” under Rule 16b-3 under the Securities Exchange Act of 1934 (the “1934 Act”) or any successor rule, and (b) qualify as an “outside director” under Section 162(m) of the Code. 
  
 2.2. Authority. The Committee shall have plenary authority to
award Incentives under the Plan, to interpret the Plan, to establish any rules or regulations relating to the Plan that it determines to be appropriate, to enter into agreements with participants as to the terms of the Incentives (the
“Incentive Agreements”) and to make any other determination that it believes necessary or advisable for the proper administration of the Plan. Its decisions in matters relating to the Plan shall be final and conclusive on the Company and
participants. The Committee may delegate its authority hereunder to the extent provided in Section 3 hereof. The Committee shall not have authority to award Incentives under the Plan to directors who are not also employees of the Company
(“Outside Directors”). Outside Directors may receive awards under the Plan only as specifically provided in Section 9 hereof. 
  
 3. Eligible Participants. Key employees and officers of the Company (including officers who also serve as directors of the Company) and consultants and
advisors to the Company shall become eligible to receive Incentives under the Plan when designated by the Committee. Employees may be designated individually or by groups or categories, as the Committee deems appropriate. With respect to
participants not subject to Section 16 of the 1934 Act or Section 162(m) of the Code, the Committee may delegate to appropriate personnel of the Company its authority to designate participants, to determine the size and type of Incentives to be
received by those participants and to determine or modify performance objectives for those participants. Outside Directors may participate in the Plan only as specifically provided in Section 9 hereof. 

 4. Types of Incentives. Incentives may be granted under the Plan to eligible participants in any of the
following forms, either individually or in combination, (a) incentive stock options and non-qualified stock options; (b) restricted stock; and (c) other stock-based awards (“Other Stock-Based Awards”). 
  
 5. Shares Subject to the Plan. 
  
 5.1. Number of Shares. Subject to adjustment as provided in
Section 10.5, a total of 2,500,000 shares of Common Stock are authorized to be issued under the Plan. Subject to adjustment as provided in Section 10.5, Incentives with respect to no more than 333,333 may be granted through the Plan to a single
participant in one calendar year. In the event that an Incentive granted hereunder expires or is terminated or cancelled prior to exercise or payment, any shares of Common Stock that were issuable thereunder may again be issued under the Plan. In
the event that shares of Common Stock are issued as Incentives under the Plan and thereafter are forfeited or reacquired by the Company pursuant to rights reserved upon issuance thereof, such forfeited and reacquired shares may again be issued under
the Plan. If an Other Stock-Based Award is to be paid in cash by its terms, the Committee need not make a deduction from the shares of Common Stock issuable under the Plan with respect thereto. If and to the extent that an Other Stock-Based Award
may be paid in cash or shares of Common Stock, the total number of shares available for issuance hereunder shall be debited by the number of shares payable under such Incentive, provided that upon any payment of all or part of such Incentive in
cash, the total number of shares available for issuance hereunder shall be credited with the appropriate number of shares represented by the cash payment, as determined in the sole discretion of the Committee. Additional rules for determining the
number of shares granted under the Plan may be made by the Committee, as it deems necessary or appropriate. 
  
 5.2. Type of Common Stock. Common Stock issued under the Plan may be authorized and unissued shares or issued shares held as treasury
shares. 
  
 6. Stock Options. A stock option is a right to
purchase shares of Common Stock from OMNI. Stock options granted under this Plan may be incentive stock options or non-qualified stock options. Any option that is designated as a non-qualified stock option shall not be treated as an incentive stock
option. Each stock option granted by the Committee under this Plan shall be subject to the following terms and conditions: 
  
 6.1. Price. The exercise price per share shall be determined by the Committee, subject to adjustment under Section 10.5; provided that in
no event shall the exercise price be less than the Fair Market Value of a share of Common Stock on the date of grant, except that in connection with an acquisition, consolidation, merger or other extraordinary transaction, options may be granted at
less than the then Fair Market Value in order to replace options previously granted by one or more parties to such transaction (or their affiliates) so long as the aggregate spread on such replacement options for any recipient of such options is
equal to or less than the aggregate spread on the options being replaced. 

 6.2. Number. The number of shares of Common Stock subject to the option shall be
determined by the Committee, subject to Section 5.1 and subject to adjustment as provided in Section 10.5. 
  
 6.3. Duration and Time for Exercise. The term of each stock option shall be determined by the Committee. Each stock option shall become
exercisable at such time or times during its term as shall be determined by the Committee. Notwithstanding the foregoing, the Committee may accelerate the exercisability of any stock option at any time, in addition to the automatic acceleration of
stock options under Section 10.11. 
  
 6.4. Manner
of Exercise. A stock option may be exercised, in whole or in part, by giving written notice to the Company, specifying the number of shares of Common Stock to be purchased. The exercise notice shall be accompanied by the full purchase price for such
shares. The option price shall be payable in United States dollars and may be paid by (a) cash; (b) uncertified or certified check; (c) unless otherwise determined by the Committee, by delivery of shares of Common Stock held by the optionee for at
least six months, which shares shall be valued for this purpose at the Fair Market Value on the business day immediately preceding the date such option is exercised; (d) unless otherwise determined by the Committee, by delivering a properly executed
exercise notice together with irrevocable instructions to a broker approved by OMNI (with a copy to OMNI) to promptly deliver to OMNI the amount of sale or loan proceeds to pay the exercise price; or (e) in such other manner as may be authorized
from time to time by the Committee. 
  
 6.5.
Incentive Stock Options. Notwithstanding anything in the Plan to the contrary, the following additional provisions shall apply to the grant of stock options that are intended to qualify as Incentive Stock Options (as such term is defined in Section
422 of the Code): 
  
 A. Any Incentive Stock
Option agreement authorized under the Plan shall contain such other provisions as the Committee shall deem advisable, but shall in all events be consistent with and contain or be deemed to contain all provisions required in order to qualify the
options as Incentive Stock Options. 
  
 B. All
Incentive Stock Options must be granted within ten years from the date on which this Plan is adopted by the Board of Directors. 
  
 C. Unless sooner exercised, all Incentive Stock Options shall expire no later than ten years after the date of grant. 
  
 D. No Incentive Stock Options shall be granted to any
participant who, at the time such option is granted, would own (within the meaning of Section 422 of the Code) stock possessing more than 10% of the total combined voting power of all classes of stock of the employer corporation or of its parent or
subsidiary corporation. 
  
 E. The aggregate Fair
Market Value (determined with respect to each Incentive Stock Option as of the time such Incentive Stock Option is granted) of the Common Stock with 

 respect to which Incentive Stock Options are exercisable for the first time by a participant during any
calendar year (under the Plan or any other plan of OMNI or any of its subsidiaries) shall not exceed $100,000. To the extent that such limitation is exceeded, such options shall not be treated, for federal income tax purposes, as Incentive Stock
Options. 
  
 7. Restricted Stock. 
  
 7.1. Grant of Restricted Stock. The Committee may award
shares of restricted stock to such officers and key employees as the Committee determines pursuant to the terms of Section 3. An award of restricted stock shall be subject to such restrictions on transfer and forfeitability provisions and such other
terms and conditions as the Committee may determine, subject to the provisions of the Plan. An award of restricted stock may also be subject to the attainment of specified performance goals or targets. To the extent restricted stock is intended to
qualify as performance-based compensation under Section 162(m) of the Code, it must be granted subject to the attainment of performance goals as described in Section 7.2 below and meet the additional requirements imposed by Section 162(m).

  
 7.2. Performance-Based Restricted Stock. To
the extent that restricted stock granted under the Plan is intended to vest based upon the achievement of pre-established performance goals rather than solely upon continued employment over a period of time, the performance goals pursuant to which
the restricted stock shall vest shall be any or a combination of the following performance measures: earnings per share, return on assets, an economic value added measure, stockholder return, earnings, stock price, return on equity, return on total
capital, safety performance, reduction of expenses or increase in cash flow of OMNI, a division of OMNI or a subsidiary. For any performance period, such performance objectives may be measured on an absolute basis or relative to a group of peer
companies selected by the Committee, relative to internal goals or relative to levels attained in prior years. The Committee may not waive any of the pre-established performance goal objectives, except that such objectives shall be waived as
provided in Section 10.11 hereof, or as may be provided by the Committee in the event of death, disability or retirement. 
  
 7.3. The Restricted Period. At the time an award of restricted stock is made, the Committee shall establish a period of time during which
the transfer of the shares of restricted stock shall be restricted (the “Restricted Period”). The Restricted Period shall be a minimum of three years, except that if the vesting of the shares of restricted stock is based upon the
attainment of performance goals, a minimum Restricted Period of one year is permitted. Each award of restricted stock may have a different Restricted Period. The expiration of the Restricted Period shall also occur as provided under Section 10.3 and
under the conditions described in Section 10.11 hereof. 
  
 7.4. Escrow. The participant receiving restricted stock shall enter into an Incentive Agreement with the Company setting forth the conditions of the grant. Certificates representing shares of restricted stock shall be registered in the name
of the participant and deposited with the Company, together with a stock power endorsed in blank by the participant. Each such certificate shall bear a legend in substantially the following form: 
  
 The transferability of this certificate and the shares of
Common Stock represented by it are subject to the terms and conditions (including conditions of forfeiture) contained in the OMNI Energy Services Corp. Stock Incentive Plan (the “Plan”), and an agreement entered into between the registered
owner and OMNI Energy Services Corp. thereunder. Copies of the Plan and the agreement are on file at the principal office of OMNI Energy Services Corp. 

 7.5. Dividends on Restricted Stock. Any and all cash and stock dividends paid with
respect to the shares of restricted stock shall be subject to any restrictions on transfer, forfeitability provisions or reinvestment requirements as the Committee may, in its discretion, prescribe in the Incentive Agreement. 
  
 7.6. Forfeiture. In the event of the forfeiture of any shares
of restricted stock under the terms provided in the Incentive Agreement (including any additional shares of restricted stock that may result from the reinvestment of cash and stock dividends, if so provided in the Incentive Agreement), such
forfeited shares shall be surrendered and the certificates cancelled. The participants shall have the same rights and privileges, and be subject to the same forfeiture provisions, with respect to any additional shares received pursuant to Section
10.5 due to a recapitalization, merger or other change in capitalization. 
  
 7.7. Expiration of Restricted Period. Upon the expiration or termination of the Restricted Period and the satisfaction of any other conditions prescribed by the Committee, the restrictions applicable to the restricted
stock shall lapse and a stock certificate for the number of shares of restricted stock with respect to which the restrictions have lapsed shall be delivered, free of all such restrictions and legends, except any that may be imposed by law, to the
participant or the participant’s estate, as the case may be. 
  
 7.8. Rights as a Stockholder. Subject to the terms and conditions of the Plan and subject to any restrictions on the receipt of dividends that may be imposed in the Incentive Agreement, each participant receiving
restricted stock shall have all the rights of a stockholder with respect to shares of stock during the Restricted Period, including without limitation, the right to vote any shares of Common Stock. 
  
 8. Other Stock-Based Awards. 
  
 8.1. Terms of Other Stock-Based Awards. The Committee is
hereby authorized to grant to eligible employees an “Other Stock-Based Award”, which shall consist of an award, the value of which is based in whole or in part on the value of shares of Common Stock, that is not an instrument or Award
specified in Sections 6 or 7 of the Plan. Other Stock-Based Awards may be awards of shares of Common Stock or may be denominated or payable in, valued in whole or in part by reference to, or otherwise based on or related to, shares of Common Stock
(including, without limitation, securities convertible or exchangeable into or exercisable for shares of Common Stock), as deemed by the Committee, consistent with the purposes of the Plan. The Committee shall determine the terms and conditions of
any such Other Stock-Based Award and may provide that such awards would be payable in whole or in part in cash. Except in the case of 

 an Other Stock-Based Award granted in assumption of or in substitution for an outstanding award of a
company acquired by the Company or with which the Company combines, the price at which securities may be purchased pursuant to any Other Stock-Based Award granted under this Plan, or the provision, if any, of any such award that is analogous to the
purchase or exercise price, shall not be less than 100% of the fair market value of the securities to which such award relates on the date of grant. 
  
 8.2. Dividend Equivalents. In the sole and complete discretion of the Committee, an Other Stock-Based Award under this Section 8 may
provide the holder thereof with dividends or dividend equivalents, payable in cash or shares of Common Stock on a current or deferred basis. 
  
 8.3. Performance Goals. Other Stock-Based Awards intended to qualify as “performance-based compensation” under Section 162(m) of
the Code shall be paid based upon the achievement of pre-established performance goals. The performance goals pursuant to which Other Stock-Based Awards granted under the Plan shall be earned shall be any or a combination of the following
performance measures: earnings per share, return on assets, an economic value added measure, stockholder return, earnings, stock price, return on equity, return on total capital, safety performance, reduction of expenses or increase in cash flow of
the Company, a division of the Company or a subsidiary. For any performance period, such performance goals may be measured on an absolute basis or relative to a group of peer companies selected by the Committee, relative to internal goals or
relative to levels attained in prior years. The Committee may not waive any of the pre-established performance goal objectives if such Other Stock-Based Award is intended to constitute “performance-based compensation” under Section 162(m),
except that such objectives shall be waived as provided in Section 10.11 hereof, or as may be provided by the Committee in the event of death, disability or retirement. 
  
 8.4. Not a Stockholder. The grant of an Other Stock-Based Award to a participant shall not create any rights
in such participant as a stockholder of the Company, until the issuance of shares of Common Stock with respect to an award, at which time such stock shall be considered issued and outstanding. 
  
 9. Stock Options for Outside Directors. 
  
 9.1. Grant of Options. Upon consummation of the
Company’s initial public offering (the “IPO”) of its Common Stock, each Outside Director shall be granted non-qualified options to purchase 3,333 shares of Common Stock. At any time thereafter that an Outside Director first becomes a
member of the Board of Directors of OMNI, such Outside Director shall also be granted non-qualified options to purchase 10,000 shares of Common Stock. In addition, beginning with the 1998 annual meeting of stockholders and for as long as the Plan
remains in effect and shares of Common Stock remain available for issuance hereunder, each Outside Director shall be automatically granted a non-qualified stock option to purchase 5,000 shares of Common Stock on the day following the annual meeting
of stockholders of OMNI. 
  
 9.2. Exercisability
of Stock Options. The stock options granted to Outside Directors under this Section 9 shall become exercisable one year after grant and shall expire ten years following the date of grant. 

 9.3. Exercise Price. The exercise price of the options granted upon consummation of the
IPO shall be equal to the IPO price. The exercise price of the options granted to Outside Directors thereafter shall be equal to the Fair Market Value, as defined in the Plan, of a share of Common Stock on the date of grant. The exercise price may
be paid as provided in Section 6.4 hereof. 
  
 9.4. Exercise After Termination of Board Service. In the event an Outside Director ceases to serve on the Board, the stock options granted hereunder must be exercised, to the extent otherwise exercisable at the time of termination of Board
service, within three months from termination of Board service; provided, however, that in the event of termination of Board service as a result of death, disability or retirement on or after reaching age 65, the stock options must be exercised, to
the extent exercisable at the time of termination of Board service, within 18 months from the date of termination of Board service; and further provided, that no stock options may be exercised later than ten years after the date of grant.

  
 10. General. 
  
 10.1. Duration. Subject to Section 10.10, the Plan shall
remain in effect until all Incentives granted under the Plan have either been satisfied by the issuance of shares of Common Stock or the payment of cash or been terminated under the terms of the Plan and all restrictions imposed on shares of Common
Stock in connection with their issuance under the Plan have lapsed. 
  
 10.2. Transferability. No Incentives granted hereunder may be transferred, pledged, assigned or otherwise encumbered by a participant except: (a) by will; (b) by the laws of descent and distribution; (c) pursuant to a
domestic relations order, as defined in the Code, if permitted by the Committee and so provided in the Incentive Agreement or an amendment thereto; or (d) as to options only, if permitted by the Committee and so provided in the Incentive Agreement
or an amendment thereto, (i) to Immediate Family Members, (ii) to a partnership in which Immediate Family Members, or entities in which Immediate Family Members are the sole owners, members or beneficiaries, as appropriate, are the sole partners,
(iii) to a limited liability company in which Immediate Family Members, or entities in which Immediate Family Members are the sole owners, members or beneficiaries, as appropriate, are the sole members, or (iv) to a trust for the sole benefit of
Immediate Family Members. “Immediate Family Members” shall be defined as the spouse and natural or adopted children or grandchildren of the participant and their spouses. To the extent that an Incentive Stock Option is permitted to be
transferred during the lifetime of the participant, it shall be treated thereafter as a nonqualified stock option. Any attempted assignment, transfer, pledge, hypothecation or other disposition of Incentives, or levy of attachment or similar process
upon Incentives not specifically permitted herein, shall be null and void and without effect. 
  
 10.3. Effect of Termination of Employment or Death. Except as provided in Section 9.4 with respect to Outside Directors, in the event that a participant ceases to be an employee of the Company
for any reason, including death, disability, early retirement or normal retirement, any Incentives may be exercised, shall vest or shall expire at such times as may be determined by the 

 Committee in the Incentive Agreement. The Committee has complete authority to modify the treatment of an
Incentive in the event of termination of employment of a participant by means of an amendment to the Incentive Agreement. Consent of the participant to the modification is required only if the modification materially impairs the rights previously
provided to the participant in the Incentive Agreement. 
  
 10.4. Additional Condition. Anything in this Plan to the contrary notwithstanding: (a) the Company may, if it shall determine it necessary or desirable for any reason, at the time of award of any Incentive or the issuance of any shares of
Common Stock pursuant to any Incentive, require the recipient of the Incentive, as a condition to the receipt thereof or to the receipt of shares of Common Stock issued pursuant thereto, to deliver to the Company a written representation of present
intention to acquire the Incentive or the shares of Common Stock issued pursuant thereto for his own account for investment and not for distribution; and (b) if at any time the Company further determines, in its sole discretion, that the listing,
registration or qualification (or any updating of any such document) of any Incentive or the shares of Common Stock issuable pursuant thereto is necessary on any securities exchange or under any federal or state securities or blue sky law, or that
the consent or approval of any governmental regulatory body is necessary or desirable as a condition of, or in connection with the award of any Incentive, the issuance of shares of Common Stock pursuant thereto, or the removal of any restrictions
imposed on such shares, such Incentive shall not be awarded or such shares of Common Stock shall not be issued or such restrictions shall not be removed, as the case may be, in whole or in part, unless such listing, registration, qualification,
consent or approval shall have been effected or obtained free of any conditions not acceptable to the Company. 
  
 10.5. Adjustment. In the event of any merger, consolidation or reorganization of the Company with any other corporation or corporations,
there shall be substituted for each of the shares of Common Stock then subject to the Plan, including shares subject to restrictions, options or achievement of performance objectives, the number and kind of shares of stock or other securities to
which the holders of the shares of Common Stock will be entitled pursuant to the transaction. In the event of any recapitalization, stock dividend, stock split, combination of shares or other change in the Common Stock, the number of shares of
Common Stock then subject to the Plan, including shares subject to outstanding Incentives, shall be adjusted in proportion to the change in outstanding shares of Common Stock. In the event of any such adjustments, the purchase price of any option,
the performance objectives of any Incentive, and the shares of Common Stock issuable pursuant to any Incentive shall be adjusted as and to the extent appropriate, in the reasonable discretion of the Committee, to provide participants with the same
relative rights before and after such adjustment. No substitution or adjustment shall require the Company to issue a fractional share under this Plan and the substitution or adjustment shall be limited by deleting any fractional share. 

 
 10.6. Incentive Agreements. The terms of each Incentive
granted to an employee, officer, consultant or advisor shall be stated in an agreement approved by the Committee. 

 10.7. Withholding. 
  
 A. The Company shall have the right to withhold from any payments made under the Plan or to collect as a
condition of payment, any taxes required by law to be withheld. At any time that a participant is required to pay to the Company an amount required to be withheld under applicable income tax laws in connection with the issuance of Common Stock, the
lapse of restrictions on Common Stock or the exercise of an option, the participant may, subject to disapproval by the Committee, satisfy this obligation in whole or in part by electing (the “Election”) to have the Company withhold shares
of Common Stock having a value equal to the amount required to be withheld. The value of the shares to be withheld shall be based on the Fair Market Value of the Common Stock on the date that the amount of tax to be withheld shall be determined
(“Tax Date”). 
  
 B. Each Election must
be made prior to the Tax Date. The Committee may disapprove of any Election, may suspend or terminate the right to make Elections, or may provide with respect to any Incentive that the right to make Elections shall not apply to such Incentive. If a
participant makes an election under Section 83(b) of the Internal Revenue Code with respect to shares of restricted stock, an Election is not permitted to be made. 
  
 10.8. No Continued Employment. No participant under the Plan shall have any right, because of his or her
participation, to continue in the employ of the Company for any period of time or to any right to continue his or her present or any other rate of compensation. 
  

10.9. Deferral Permitted. Payment of cash or distribution of any shares of Common Stock to which a participant is entitled under any
Incentive shall be made as provided in the Incentive Agreement. Payment may be deferred at the option of the participant if provided in the Incentive Agreement. 
  

10.10. Amendments to or Termination of the Plan. 
  
 A. The Board may amend, suspend or terminate the Plan or any portion thereof at any time, provided that no
amendment shall be made without stockholder approval if such approval is necessary to comply with any tax or regulatory requirement, including any approval necessary to qualify Incentives as “performance-based” compensation under Section
162(m) or any successor provision, if such qualification is deemed necessary or advisable by the Committee. 
  
 B. Any provision of this Plan or any Incentive Agreement to the contrary notwithstanding, the Committee may cause any Incentive granted
hereunder to be cancelled in consideration of a cash payment or alternative Incentive made to the holder of such cancelled Incentive equal in value to such cancelled Incentive. The determinations of value under this subparagraph shall be made by the
Committee in its sole discretion. 

 10.11. Change of Control. 
  
 A. “Change of Control” shall mean: 
  
 1. the acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of
the 1934 Act of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the 1934 Act) of more than 50% of the outstanding shares of the Common Stock; provided, however, that for purposes of this subsection 1., the following shall
not constitute a Change of Control: 
  
 (a) any
acquisition of Common Stock directly or indirectly from OMNI, or Advantage Capital Companies, 
  
 (b) any acquisition of Common Stock by OMNI, 
  
 (c) any acquisition of Common Stock by any employee benefit plan (or related trust) sponsored or maintained by OMNI or any corporation controlled by OMNI, or 
  
 (d) any acquisition of Common Stock by any corporation
pursuant to a transaction that complies with clauses (a), (b) and (c) of subsection (A)(3) of this Section 10.11; or 
  
 2. individuals who, as of the date of adoption of the Plan by the Board of Directors of OMNI (the “Adoption Date”), constitute
the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to the Adoption Date whose election, or nomination for election by
the Company’s stockholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered a member of the Incumbent Board, unless such individual’s initial assumption of office
occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a person other than the Incumbent Board; or

  
 3. Approval by the stockholders of OMNI of a
reorganization, merger or consolidation, or sale or other disposition of all of substantially all of the assets of the Company (a “Business Combination”), in each case, unless, following such Business Combination, 
  
 (a) all or substantially all of the individuals and entities
who were the beneficial owners of OMNI’s outstanding common stock and OMNI’s voting securities entitled to vote generally in the election of directors immediately prior to such Business Combination have direct or indirect beneficial
ownership, respectively, of more than 50% of the then outstanding shares of common stock, and more than 50% of the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors, of the
corporation resulting from such Business Combination (which, for purposes of this paragraph (a) and paragraphs (b) and (c), shall include a corporation which as a result of such transaction controls the Company or all or substantially all of the
Company’s assets either directly or through one or more subsidiaries), and 

 (b) except to the extent that such ownership existed prior to the Business Combination,
no person (excluding any corporation resulting from such Business Combination or any employee benefit plan or related trust of the Company or such corporation resulting from such Business Combination) beneficially owns, directly or indirectly, 30%
or more of the then outstanding shares of common stock of the corporation resulting from such Business Combination or 30% or more of the combined voting power of the then outstanding voting securities of such corporation, and 
  
 (c) at least a majority of the members of the board of
directors of the corporation resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board, providing for such Business Combination; or 

 
 4. approval by the stockholders of the Company of a
complete liquidation or dissolution of the Company. 
  
 B. Upon a Change of Control, all outstanding options shall automatically become fully exercisable, all restrictions or limitations on any Incentives shall lapse and all performance criteria and other conditions relating to the payment of
Incentives shall be deemed to be achieved or waived by the Company, without the necessity of any action by any person. 
  
 C. No later than 30 days after the approval by the Board of a Change of Control of the types described in Subsections A.3 and A.4 of this
Section 10.11, and no later than 30 days after a Change of Control of the type described in Subsections A.1 and A.2 of this Section 10.11 of the Plan, the Committee (as the Committee was composed immediately prior to such Change of Control and
notwithstanding any removal or attempted removal of some or all of the members thereof as directors or Committee members), acting in its sole discretion without the consent or approval of any participant, may act to effect one or more of the
alternatives listed below and such act by the Committee may not be revoked or rescinded by persons not members of the Committee immediately prior to the Change of Control: 
  
 1. require that all outstanding options be exercised on or before a specified date (before or after such
Change of Control) fixed by the Committee, after which specified date all unexercised options shall terminate, 
  
 2. make such equitable adjustments to Incentives then outstanding as the Committee deems appropriate to reflect such Change of Control
(provided, however, that the Committee may determine in its sole discretion that no adjustment is necessary), or 
  
 3. provide that thereafter upon any exercise of an option the participant shall be entitled to purchase under such option, in lieu of the
number of shares of Common Stock then covered by such option, the number and class of shares of stock or other securities or property (including, without limitation, cash) to which the participant would have been entitled pursuant to the terms of
the agreement providing for the merger, consolidation, asset sale, dissolution or other Change of Control of the type described in Sections 10.11.A.3 and A.4 of the Plan, if, immediately prior to such Change of Control, the participant had been the
holder of record of the number of shares of Common Stock then covered by such options. 

 10.12. Definition of Fair Market Value. Whenever “Fair Market Value” of Common
Stock shall be determined for purposes of this Plan, it shall be determined as follows: (i) if the Common Stock is listed on an established stock exchange or any automated quotation system that provides sale quotations, the closing sale price for a
share of the Common Stock on such exchange or quotation system on the applicable date; (ii) if the Common Stock is not listed on any exchange or quotation system, but bid and asked prices are quoted and published, the mean between the quoted bid and
asked prices on the applicable date, and if bid and asked prices are not available on such day, on the next preceding day on which such prices were available; and (iii) if the Common Stock is not regularly quoted, the fair market value of a share of
Common Stock on the applicable date as established by the Committee in good faith. 
  
 10.13. Loans. In order to assist a participant in acquiring shares of Common Stock pursuant to an Incentive granted under the Plan, the Committee may authorize, subject to the provisions of
Regulation G of the Board of Governors of the Federal Reserve System, at either the time of the grant of the Incentive, at the time of the acquisition of Common Stock pursuant to the Incentive, or at the time of the lapse of restrictions on shares
of restricted stock granted under the Plan, the extension of a loan to the participant by the Company. The terms of any loans, including the interest rate, collateral and terms of repayment, will be subject to the discretion of the Committee. The
maximum credit available hereunder shall be equal to the aggregate purchase price of the shares of Common Stock to be acquired pursuant to the Incentive plus the maximum tax liability that may be incurred in connection with the Incentive.

  
 10.14. Tax Benefit Rights. The Committee may
grant a tax benefit right (“TBR”) to a participant in the Plan on such terms as the Committee in its discretion shall determine. A TBR may be granted only with respect to an Incentive granted under the Plan and may be granted concurrently
with or after the grant of the Incentive. A TBR shall entitle a participant to receive from the Company an amount in cash not to exceed the product of the ordinary income, if any, which the participant may realize as the result of the exercise of an
option or the grant or vesting of restricted stock or an Other Stock-Based Award (including any income realized as a result of the related TBR) multiplied by the then applicable highest stated federal and state tax rate for individuals. The
Committee shall determine all terms and provisions of the TBR granted hereunder.Transition and Release Agreement

 Exhibit 10.1 
  
 TRANSITION & RELEASE AGREEMENT 
  

This Transition and Release Agreement (“Agreement”) by and between Openwave Systems Inc. (the “Company”), and Donald Listwin
(“Director”) is entered into on this day of July 13, 2005 (the “Effective Date”). 
  
 Factual Recitals 
  
 A. Director
is currently serving as a member of the Board of Directors of the Company (“Board”). Director has decided to resign his position as a member of the Board; 
  
 B. The Company has previously granted certain stock options and entered into certain other agreements listed on Exhibit
A hereto relating to Director’s prior service with the Company including his previous employment as the Company’s Chief Executive Officer (collectively, the “Pre-existing Agreements”). (Certain terms not defined in this
Agreement but defined in an exhibit to this Agreement shall have the same meaning as they have in such exhibit.); 
  
 C. In consideration for Director’s commitments as set forth in this Agreement and in complete and full satisfaction of the Company’s financial
obligations to Director, whether under the Pre-existing Agreements or otherwise, except as otherwise expressly set forth below, the parties have agreed to the terms set forth in this Agreement. 
  
 NOW THEREFORE, in consideration of the mutual promises made herein, the
Company and Director (collectively referred to as the “Parties”) hereby agree as follows: 
  
 A. Final and Exclusive Agreement. This Agreement supersedes any and all other agreements, plans, programs, policies, and arrangements relating to
the terms of Director’s service with the Company. Notwithstanding the foregoing, the Indemnification Agreement and the Confidentiality Agreement shall remain in full force and effect according to their terms. 
  
 B. Acceleration of Certain Stock Options. The Company has previously
granted to Director an option to acquire 21,929 shares of the Company’s common stock (grant number 011317) and an option to acquire 111,404 shares of the Company’s common stock (grant number 011318), which two option grants shall be
referred to herein as the “Options”. In consideration for Director’s agreement to be available to serve as a business consultant to the Chief Executive Officer during the month of July 2005 for up to fifteen hours per week, and for
Director’s entering into an effective and binding release of all claims (the “Release”) as set forth on Exhibit B to this Agreement, and so long as Director is in compliance with the requirements of this Agreement, on the
Effective Date, Director shall become entitled to exercise (1) all unvested Options as well as (2) that portion of the Options that had already become vested and exercisable, but has not yet been exercised, as of the Effective Date (both portions of
both Options shall be referred to herein as the “Vested Options”). Except as set forth herein, the Vested Options shall remain exercisable according to the terms of the option agreements under which the Options were granted. Customary
payroll taxes and income tax withholding will be deducted from any payments arising from the Options, to the extent applicable. 

 C. Final Date of Service as a Director. Director hereby resigns his position as a member of the
Board on the Effective Date (“Final Date of Service”). Director agrees to return all Company equipment, and all other Company property in his possession or control at or prior to the Final Date of Service. Director agrees that the Company
has made all payment of compensation or benefits due to Director. 
  
 D. Competitive Activities; Confidentiality Agreement. As a member of the Board, Director acknowledges and agrees that he has acquired knowledge of sensitive, material and non-public information relating to product development road
maps, marketing plans, competitive plans and pricing strategies, trade secrets, and other confidential information of the Company (the “Confidential Information”). Director acknowledges that the Confidential Information possessed by him
could be disclosed or used to the material detriment of the Company. Director represents and warrants that all at times prior to the Effective Date he has been in full compliance with all of his obligations under the Confidentiality Agreement.
Director understands that the terms of the Confidentiality Agreement, including the non-solicitation provisions thereof, shall continue in full force and effect following the Effective Date and the Final Date of Service, such that the Company shall
continue to possess all remedies available to it, whether at law or in equity, in order to enforce Director’s compliance with such agreement. 
  
 E. No Pending or Future Lawsuits. Director represents that he has no lawsuits, claims, or actions pending in his name, or on behalf of any other
person or entity, against the Company or any other Released Party. Director also represents that he does not intend to bring any claims on his own behalf or on behalf of any other person or entity against the Company or any other Released Party.

  
 F. Dispute Resolution. In the event of any dispute or
claim relating to or arising out of this Agreement, Director’s service with the Company in any capacity, or the termination of Director’s service relationship for any reason, the Parties agree that all such disputes/claims will be resolved
by means of a court trial conducted by the superior or district court in Santa Clara County, California. The Parties hereby irrevocably waive their respective rights to have any such disputes/claims tried by a jury, and the Parties hereby agree that
such courts will have personal and subject matter jurisdiction over all such claims/disputes. Notwithstanding the foregoing, in the event of any such dispute/claim, the Parties may agree to mediate or arbitrate the dispute/claim on such terms and
conditions as may be agreed to in writing by the Parties. 
  
 G.
No Representations. Each party represents that it has had the opportunity to consult with an attorney, and has carefully read and understands the scope and effect of the provisions of this Agreement. Neither party has relied upon any
representations or statements made by the other party hereto which are not specifically set forth in this Agreement. 
  
 H. Severability. The Parties intend that the covenants, agreements, representations and warranties (collectively “Covenants”) contained
in the provisions of this Agreement shall be deemed to be a series of separate Covenants. If, in any proceeding, a court or arbitrator shall refuse to enforce all of the separate Covenants deemed included in the provisions of this Agreement, then
such unenforceable Covenants shall be deemed eliminated from the provisions of this Agreement 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, subject, or for any other reason, it will be construed by limiting it and reducing it, so as to be enforceable
to the extent 
  

 2 

 compatible with the applicable law as it then appears in order to carry out the intent of the parties to the greatest
possible extent. If any provision of this Agreement is for any reason not described in the preceding sentence held to be unenforceable, it will be construed and interpreted in such a fashion so as to be enforceable to the extent compatible with the
applicable law as it then appears in order to carry out the intent of the parties to the greatest possible extent. 
  
 I. Miscellaneous. This Agreement, including the exhibits hereto, represents the entire agreement and understanding between the Company and Director
concerning Director’s separation from the Company, and supersedes and replaces any and all prior agreements and understandings concerning Director’s relationship with the Company and his compensation from the Company, with the exception of
the Indemnification Agreement, Confidentiality Agreement and any agreements documenting the terms of an outstanding stock option granted to Director by the Company. This Agreement may only be amended in a writing signed by Director and an authorized
officer of the Company. This Agreement shall be governed by the internal laws of the State of California. This Agreement may be executed in counterparts, and each counterpart shall have the same force and effect as an original and shall constitute
an effective, binding agreement on the part of each of the undersigned. 
  
 J. Voluntary Execution of Agreement. This Agreement is executed voluntarily by each party and without any duress or undue influence on the part of the other party or any third person, with the intent by each party to enjoy that
party’s benefits and discharge that party’s obligations as set forth under this Agreement, and further, on the part of Director, with the full intent of releasing all Claims for himself and on behalf of Director’s Affiliates. The
Parties acknowledge that (1) they have read this Agreement; (2) they have been represented in the preparation, negotiation, and execution of this Agreement by legal counsel of their own choice or that they have voluntarily declined to seek such
counsel; (3) they understand the terms and consequences of this Agreement and of the releases it contains; and (4) they are fully aware of the legal and binding effect of this Agreement. 
  
 IN WITNESS WHEREOF, the Parties have executed this Agreement on the respective dates set forth below. 
  

			
	 	 	Director:
		
	Dated: July 13, 2005	 	 /s/ Don Listwin

	 	 	Donald Listwin
		
	 	 	OPENWAVE SYSTEMS INC.
		
	Dated: July 13, 2005	 	 /s/ Gregory J. Wrenn

	 	 	Gregory J. Wrenn
	 	 	Vice President and General Counsel

  

 3 

 Exhibit A 
  

List of Pre-Existing Agreements 
  
 Notice of Stock Option Grant and Option Agreement granted on October 20, 2003 under the Company’s 1995 Stock Plan to acquire up to 21,929 shares of
the Company’s common stock (grant number 011317); 
  
 Notice
of Stock Option Grant and Option Agreement granted on October 20, 2003 under the Company’s 1995 Stock Plan to acquire up to 111,404 shares of the Company’s common stock (grant number 011318); 
  
 Indemnification Agreement by and between the Company and Executive dated
effective September 7, 2000, (“Indemnification Agreement”); 
  
 Confidential Information and Invention Assignment Agreement (the “Confidentiality Agreement”) dated September 7, 2000 (“Confidentiality Agreement”). 

 Exhibit B 
 RELEASE 
  
 Further to the
Transition and Release Agreement effective as of July 13, 2005 previously signed by me (“Agreement”), I, for my own part and on behalf of my spouse, heirs, beneficiaries, family members, executors, agents, attorneys, administrators,
affiliates, successors and assigns (collectively, “Employee’s Affiliates”) hereby release, acquit and forever discharge Openwave Systems Inc., its parents and subsidiaries, and each of their present and former officers, directors,
agents, servants, employees, attorneys, investors, stockholders, contractors, partners, members, administrators, divisions, predecessors, affiliates, insurers, agents, attorneys, fiduciaries, successors and assigns, including without limitation,
Openwave Systems Europe Limited (collectively, “Company” or “Released Parties”), of and from any and all claims, suits, agreements, promises, disputes, controversies, contentions, differences, judgments, debts, dues, sums of
money, accounts, reckonings, bonds, covenants, contracts, variances, trespasses, executions, 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, arising out of or in any way related to agreements, events, acts, omissions, speech or conduct at any time through and including my Final Date of Service (as defined
in the Agreement) (collectively, the “Claims”), including but not limited to: all such Claims directly or indirectly arising out of or in any way connected with my service as a member of the Board of Directors of Openwave Systems Inc.
(“Board”) or my prior employment with the Company or the transition or termination of that employment; Claims related to any form of compensation or benefits from the Company, including but not limited to any cash retainer, bonuses,
meeting fees, stock, stock options, or any other ownership interests in the Company; or any other Claims against a Released Party of any type; including without limitation, any claims for fraud, misrepresentation, breach of fiduciary duty, breach of
duty under applicable state corporate law, and securities fraud under any state or federal law; claims pursuant to any federal, state or local law, statute or cause of action including, but not limited to, the General Corporation Law of the State of
Delaware; the federal Civil Rights Act of 1964, as amended; the federal Americans with Disabilities Act of 1990; the Employee Retirement Income Security Act of 1974, as amended (“ERISA”); The Worker Adjustment and Retraining Notification
Act; the Fair Labor Standards Act; the California Fair Employment and Housing Act, as amended; state or federal constitutional law; tort law; contract law; wrongful discharge; termination in violation of public policy; promissory estoppel; libel;
slander; unfair business practices; invasion of privacy; discrimination; harassment; fraud; defamation; emotional distress; and breach of the implied covenant of good faith and fair dealing. This document shall be referred to as the
“Release”. 
  
 In giving this Release, which includes
claims which may be unknown to me at present, I acknowledge that I have read and understand Section 1542 of the California Civil Code which reads as follows: “A general release does not extend to claims which the creditor does not know or
suspect to exist in his favor at the time of executing the release, which if known by him must have materially affected his settlement with the debtor.” I, both for my own part and on behalf of Employee’s Affiliates, hereby expressly
waive and relinquish all rights and benefits under that section and any law of any jurisdiction of similar effect with respect to this Release. 
  

			
	 	 	Donald Listwin, an individual
		
	Dated: July 13, 2005	 	 /s/ Don Listwin

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