Document:

EX-10.2

 Exhibit 10.2 

LOCKHEED MARTIN CORPORATION 

2011 INCENTIVE PERFORMANCE AWARD PLAN 

(Approved at Annual Meeting of Stockholders on April 28, 2011) 

As Amended January 24, 2013 

As Amended and Restated January 23, 2014 and Amended April 24, 2014 

As Amended and Restated September 24, 2015 

SECTION 1. Purpose. 
 The purpose of this
Plan is to benefit the Corporation’s stockholders by encouraging high levels of performance by individuals who contribute to the success of the Corporation and its Subsidiaries and to enable the Corporation and its Subsidiaries to attract,
motivate, retain and reward talented and experienced individuals. This purpose is to be accomplished by providing eligible employees with an opportunity to obtain or increase their proprietary interest in the Corporation and thereby align their
interests with those of the Corporation’s stockholders, and by providing eligible employees with additional incentives to join or remain with the Corporation and its Subsidiaries. 

SECTION 2. Definitions; Rules of Construction. 

(a) Defined Terms. The terms defined in this Section shall have the following meanings for purposes of this Plan: 

“Award” means an award granted pursuant to Section 4. 

“Award Agreement” means an agreement described in Section 6 entered into between the Corporation and a
Participant, setting forth the terms and conditions of an Award granted to a Participant. 
 “Backlog” means
either funded backlog (unfilled firm orders for which funding has been both authorized and appropriated by the customer) or unfunded backlog (unfilled firm orders for which funding has not been authorized and appropriated by the customer), as
determined by the Committee at the time an Award is granted. 
 “Beneficiary” means a person or persons
(including a trust or trusts) validly designated by a Participant, in the event of the Participant’s death, as the Participant’s beneficiary under this Plan, or, in the absence of a valid designation, the Participant’s estate. 

“Board of Directors” or “Board” means the Board of Directors of the Corporation. 

“Cash-Based Awards” means Awards that, if paid, must be paid in cash and that are neither denominated in nor
have a value derived from the value of, nor an exercise right or conversion privilege at a price related to, shares of Stock, as described in Section 4(a)(6). 

“Cash Flow” means cash and cash equivalents derived from either (i) net cash flow from operations or
(ii) net cash flow from operations, financings and investing activities, as determined by the Committee at the time an Award is granted. 

“Change in Control” means a change in control as defined in Section 7(c). 

“Code” means the Internal Revenue Code of 1986, as amended from time to time. 

“Committee” means the Committee described in Section 8. 

“Corporation” means Lockheed Martin Corporation. 

  
 1 

 “Date of Grant” means the date specified by the Committee as the
date on which an Award is to be granted (which date shall be no earlier than the date the resolution approving the Award is adopted by the Committee), or if no such date is specified by the Committee, the date on which the Committee adopts a
resolution making the Award.
 “Deferred Dividend Equivalent” or “DDE” means a Dividend Equivalent
that is accrued during the restricted period set forth in an Award Agreement and that becomes payable to a Participant upon the expiration or termination of such restricted period. 

“Dividend Equivalent” means an amount equal to the cash dividends that would have been paid had a Participant
owned a share of Stock during the restricted period set forth in an Award Agreement. 
 “Employee” means any
officer (whether or not also a director) or any key salaried employee of the Corporation or any of its Subsidiaries, but excludes, in the case of an Incentive Stock Option, an Employee of any Subsidiary that is not a “subsidiary
corporation” of the Corporation as defined in Code Section 424(f). 
 “EPS” means earnings per
common share on a fully diluted basis determined in accordance with GAAP. 
 “EPS Growth” means the increase
(on a dollar or percentage basis) in EPS for a specified period as compared to a comparable prior period, as specified by the Committee at the time an Award is granted. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time. 

“Executive Officer” means executive officer as defined in Rule 3b-7 under the Exchange Act, provided that, if
the Board has designated the executive officers of the Corporation for purposes of reporting under the Exchange Act, the designation by the Board shall be conclusive for purposes of this Plan. 

“Fair Market Value” means the closing sale price of the relevant security as reported by the New York Stock
Exchange on its web site as the closing price (or, if the security is not so listed or if the principal market on which it is traded is not the New York Stock Exchange, such other reporting system as shall be selected by the Committee) on the
relevant date, or, if no sale of the security is reported for that date, the next preceding day for which there is a reported sale. The Committee shall determine the Fair Market Value of any security that is not publicly traded, using criteria as it
shall determine, in its sole direction, to be appropriate for the valuation. 
 “Free Cash Flow” means net
cash flow from operations as determined in accordance with GAAP, less the amount identified as capital expenditures as presented in the Corporation’s Statement of Cash Flows. 

“Free Cash Flow per Share” means Free Cash Flow for a specified period divided by the average fully diluted
common shares during the specified period. 
 “GAAP” means generally accepted accounting principles in the
United States. 
 “Insider” means any person who is subject to the reporting obligations of
Section 16(a) of the Exchange Act. 
 “Nonperformance-Based Award or Nonperformance-Based” means an
Award that is not intended to satisfy the requirements of Section 4(b). 
 “Option” means a
Nonqualified Stock Option or an Incentive Stock Option as described in Section 4(a)(1) or (2). 

  
 2 

 “Orders” means increases in contract values as specified in
binding legal documents such as signed contracts, letters of award, notifications of award or purchase orders during a specified period. 

“Participant” means an Employee who is granted an Award pursuant to this Plan so long as the Award remains
outstanding. 
 “Percentage of Free Cash Flow to Stockholders” means the percentage of Free Cash Flow
distributed to common stockholders during a specified period through dividends and stock repurchases. 

“Performance-Based Awards” means an Award contemplated by Section 4(b). 

“Performance Goal” means Backlog, Cash Flow, EPS, EPS Growth, Free Cash Flow per Share, Orders, Percentage of
Free Cash Flow to Stockholders, ROIC, Sales, Segment Operating Profit, Segment ROIC or Total Stockholder Return, and “Performance Goals” means any combination thereof. Except as the context otherwise requires, performance under any of the
Performance Goals (A) may be used to measure the performance of (i) the Corporation and its Subsidiaries on a consolidated basis, (ii) the Corporation or any Subsidiary or Subsidiaries, or any combination thereof, or (iii) any
one or more segments or business units of the Corporation and its Subsidiaries, in either case as the Committee determines in its sole discretion, and (B) may be compared to the performance of one or more of the companies or one or more
published or specially constructed indices designated or approved by the Committee for comparison, as the Committee determines in its sole discretion. 

“Plan” means this Lockheed Martin Corporation 2011 Incentive Performance Award Plan. 

“Predecessor Plan” means the Lockheed Martin Corporation Amended and Restated 2003 Incentive Performance Award
Plan. 
 “ROIC” means return on invested capital calculated as (A) average (i) net income plus
(ii) interest expense times one minus the highest marginal federal corporate tax rate, divided by (B) (i) average debt (including current maturities of long-term debt) plus (ii) average stockholders’ equity, plus the
postretirement amounts determined at year-end as included in the Corporation’s Statement of Stockholders’ Equity. 

“Rule 16b-3” means Rule 16b-3 under Section 16 of the Exchange Act, as amended from time to time. 

“Sales” means net sales determined in accordance with GAAP. 

“SAR” means a Stock Appreciation Right as described in Section 4(a)(3). 

“Segment Operating Profit” means operating profit calculated at the segment level. 

“Segment ROIC” means return on invested capital at the segment level calculated as (A) average
(i) Segment Operating Profit times one minus the highest marginal federal corporate tax rate, divided by (B) average segment net assets. 

“Share-Based Awards” means Awards that are payable or denominated in or have a value derived from the value
of, or an exercise right or conversion privilege at a price related to, shares of Stock, as described in Sections 4(a)(1) through (5). 

“Share Units” means the number of units under a Share-Based Award that is payable solely in cash or is
actually paid in cash, determined by reference to the number of shares of Stock by which the Share-Based Award is measured. 

  
 3 

 “Stock” means shares of common stock of the Corporation, par
value $1.00 per share, subject to adjustments made under Section 7 or by operation of law. 

“Subsidiary” means, as to any person, any corporation, association, partnership, joint venture or other
business entity of which 50 percent or more of the voting stock or other equity interests (in the case of entities other than corporations), is owned or controlled (directly or indirectly) by that entity, or by one or more of the Subsidiaries of
that entity, or by a combination thereof. 
 “Tax” or “Taxes” means any U.S. Federal, state,
local, or non-U.S. income, employment, or payroll tax, excise tax, or any other tax or assessment owed with respect to any Award or other payment due to a Participant under the Plan. 

“Total Stockholder Return” means with respect to the Corporation or other entities (if measured on a relative
basis), the (i) change in the market price of its common stock (as quoted in the principal market on which it is traded as of the beginning and ending of the designated period) plus dividends and other distributions paid, divided by
(ii) the beginning quoted market price, all of which is adjusted for any changes in equity structure, including but not limited to stock splits and stock dividends. 

(b) Financial and Accounting Terms. Except as otherwise expressly provided or the context otherwise requires, financial and accounting
terms, including terms defined herein as Performance Goals, are used as defined for purposes of, and shall be determined in accordance with, GAAP and as derived from the consolidated financial statements of the Corporation, prepared in the ordinary
course of business and filed with the Securities and Exchange Commission from time to time. 
 (c) Rules of Construction. For
purposes of this Plan and the Award Agreements, unless otherwise expressly provided or the context otherwise requires, the terms defined in this Plan include the plural and the singular, and pronouns of either gender or neuter shall include, as
appropriate, the other pronoun forms. For purposes of any Award Agreements, payments that will be made “as soon as practicable” after a specified event must be made within 90 days of the applicable event. 

SECTION 3. Eligibility. 
 Any one or more
Awards may be granted to any individual who is an Employee on the Date of Grant and who is designated by the Committee to receive an Award, provided that no individual who beneficially owns Stock possessing five percent or more of the combined
voting power of all classes of stock of the Corporation shall be eligible to participate in this Plan. 
 SECTION 4. Awards. 

(a) Type of Awards. The Committee may grant any of the following types of Awards, either singly or in combination with other Awards:

 (1) Nonqualified Stock Options. A Nonqualified Stock Option is an Award in the form of an option to purchase Stock
that is not intended to comply with the requirements of Code Section 422 or any successor provision of the Code. The exercise price of each Nonqualified Stock Option granted under this Plan shall be not less than the Fair Market Value of the
Stock on the Date of Grant of the Option. All Nonqualified Stock Options shall be treated as Performance-Based Awards subject to the applicable restrictions under Section 4(b). 

(2) Incentive Stock Options. An Incentive Stock Option is an Award in the form of an option to purchase Stock that is
intended to comply with the requirements of Code Section 422 or any successor provision of the Code. The exercise price of each Incentive Stock Option granted under this Plan shall be not less than the Fair Market Value of the Stock on the Date
of Grant of the Option. To the extent that the aggregate “fair market value” of Stock with respect to which one or more incentive stock options first become exercisable by a Participant in any calendar year exceeds $100,000, taking into
account both Stock 

  
 4 

 
subject to Incentive Stock Options under this Plan and stock subject to incentive stock options under all other plans of the Corporation or of other entities referenced in Code
Section 422(d)(1), the options shall be treated as Nonqualified Stock Options. For this purpose, the “fair market value” of the Stock subject to options shall be determined as of the Date of Grant of the Options. All Incentive Stock
Options shall be treated as Performance-Based Awards subject to the applicable restrictions under Section 4(b). 
 (3)
Stock Appreciation Rights. A Stock Appreciation Right or SAR is an Award in the form of a right to receive, upon surrender of the right, but without other payment, an amount based on appreciation in the value of Stock over a base price
established in the Award, payable in cash, Stock or such other form or combination of forms of payout, at times and upon conditions as may be approved by the Committee. The minimum base price of a SAR granted under this Plan shall be the Fair Market
Value of the underlying Stock on the Date of Grant of the SAR, or, in the case of a SAR related to an Option (whether already outstanding or concurrently granted), the exercise price of the related Option. All SARs shall be treated as
Performance-Based Awards subject to the applicable restrictions under Section 4(b). 
 (4) Restricted Stock.
Restricted Stock is an Award of shares of Stock of the Corporation that are issued, but subject to restrictions on transfer and/or such other restrictions on incidents of ownership as the Committee may determine. Awards of Restricted Stock to
Executive Officers that are either granted or vest upon attainment of one or more of the Performance Goals shall only be granted as Performance-Based Awards subject to the applicable restrictions under Section 4(b). 

(5) Stock Units. A Stock Unit is an Award payable in cash or Stock and represented by a bookkeeping entry where the
amount represented by the bookkeeping entry for each Stock Unit equals the Fair Market Value of a share of Stock on the Date of Grant and which amount shall be subsequently increased or decreased to reflect the Fair Market Value of a share of Stock
on any date from the Date of Grant up to the date the Stock Unit is paid to the Participant in cash or Stock. Stock Units are not outstanding shares of Stock and do not entitle a Participant to voting or other rights with respect to Stock; provided,
however, that an Award of Stock Units may provide for the crediting of Dividend Equivalents or the crediting of additional Stock Units based on the value of dividends paid on Stock while the Award is outstanding, subject in each case to the vesting,
forfeiture and Performance Goals applicable to the underlying Stock Units. Awards of Stock Units to Executive Officers that are either granted or vest upon attainment of one or more of the Performance Goals shall only be granted as Performance-Based
Awards subject to the applicable restrictions under Section 4(b). 
 (6) Cash-Based Awards. Cash-Based Awards are
Awards that provide Participants with the opportunity to earn a cash payment based upon the level of performance of the Corporation relative to one or more Performance Goals established by the Committee for an award cycle of more than one but not
more than five years. For each award cycle, the Committee shall determine the size of the Awards, the Performance Goals, the performance targets as to each of the Performance Goals, the level or levels of achievement necessary for award payments and
the weighting of the Performance Goals, if more than one Performance Goal is applicable. Cash-Based Awards to Executive Officers that are either granted or become vested, exercisable or payable based on attainment of one or more Performance Goals
shall only be granted as Performance-Based Awards subject to the applicable restrictions under Section 4(b). 
 (b) Special
Performance-Based Awards. Without limiting the generality of the foregoing, any of the types of Awards listed in Section 4(a) may be granted as awards that satisfy the requirements for “performance-based compensation” within the
meaning of Code Section 162(m) (“Performance-Based Awards”), the grant, vesting, exercisability or payment of which depends on the degree of achievement of the Performance Goals relative to pre-established target levels.
Notwithstanding anything contained in this Section 4(b) to the contrary, any Option or SAR shall be subject only to the requirements of Section 4(b)(1) and Sections 4(c)(1) and (2) below in order for such Awards to satisfy the
requirements for Performance-Based Awards under this Section 4(b) (with such Awards referred to as a “Qualifying Option” or a “Qualifying Stock Appreciation Right,” respectively). With the exception of any Qualifying Option
or Qualifying Stock Appreciation Right, an Award that is intended to satisfy the requirements of this Section 4(b) shall be designated as a Performance-Based Award at the time of grant. Nothing in this Plan shall limit the ability of the
Committee to grant Options or SARs with an exercise price or a base price greater than Fair Market Value on the Date of Grant or to make the vesting of the Options or SARs subject to Performance Goals or other business objectives or conditions. 

(1) Eligible Class. The eligible class of persons for Awards under this Section 4(b) shall be all Employees. 

  
 5 

 (2) Performance Goals. The performance goals for any Awards under this
Section 4(b) (other than Qualifying Options and Qualifying Stock Appreciation Rights) shall be, on an absolute, average or relative basis, one or more of the Performance Goals. The specific performance target(s) with respect to Performance
Goal(s) will be established by the Committee in advance of the deadlines applicable under Code Section 162(m) and while the performance relating to the Performance Goal(s) remains substantially uncertain. 

(3) Committee Certification. Before any Performance-Based Award under this Section 4(b) (other than Qualifying
Options and Qualifying Stock Appreciation Rights) is paid, the Committee must certify in writing (by resolution or otherwise) that the applicable Performance Goal(s) and any other material terms of the Performance-Based Award were satisfied;
provided, however, that a Performance-Based Award may be paid without regard to the satisfaction of the applicable Performance Goal in the event of a Change in Control as provided in Section 7(b). 

(4) Terms and Conditions of Awards; Committee Discretion to Reduce Performance Awards. The Committee shall have
discretion to determine the conditions, restrictions or other limitations, in accordance with and subject to the terms of this Plan and Code Section 162(m), on the payment of individual Performance-Based Awards under this Section 4(b). To
the extent set forth in an Award Agreement, the Committee may reserve the right to reduce the amount payable in accordance with any standards or on any other basis (including the Committee’s discretion), as the Committee may determine. 

(5) Adjustments for Material Changes. The Committee shall have the right to specify any adjustment that it deems
necessary or appropriate to any Performance Goals and/or performance targets to take into account or exclude any extraordinary gain or loss or other event that is considered an extraordinary item under GAAP, provided the Committee exercises this
right to specify the adjustment at the time the Performance Goals and/or performance targets are established under this Section 4(b). In addition, the Committee shall have the right to specify any adjustment that it deems necessary or
appropriate to take into account or exclude any other gain or loss or event recognized under any accounting policy or practice affecting the Corporation and/or any Performance Goals or performance targets, provided the Committee exercises this right
to exclude or take such gain or loss or event into account at the time the related Performance Goals and/or performance targets are established under this Section 4(b). 

(6) Interpretation. Except as specifically provided in this Section 4(b), the provisions of this Plan and any Award
Agreement shall be interpreted and administered by the Committee in a manner consistent with the requirements for qualification of Performance-Based Awards granted to Executive Officers as “performance-based compensation” under Code
Section 162(m) and the regulations thereunder. 
 (c) Individual Limits.  

(1) Share-Based Awards. The maximum number of shares of Stock that are issuable under this Plan pursuant to Options,
SARs payable in shares of Stock, Restricted Stock and Stock Units payable in shares of Stock (described under Section 4(a)(5)) that are granted as Performance-Based Awards during any calendar year to any Participant shall not exceed 1,000,000,
subject to adjustment as provided in Section 7; provided, that the maximum number of shares of Stock that may be granted as Restricted Stock Awards during any calendar year to any Participant under this Plan (including as Performance-Based
Awards) shall not exceed 750,000 shares, subject to adjustment as provided in Section 7. Awards that are canceled during the year shall be counted against these limits. 

  
 6 

 (2) Share Unit and Cash Only SAR Awards. The aggregate number of Share
Units that are issuable as Stock Units payable in cash only or SARs payable in cash only during any calendar year to any Participant as Performance-Based Awards shall not exceed 300,000, subject to adjustment as provided in Section 7. Awards
that are canceled due to expiration or forfeiture during the year shall be counted against this limit. 
 (3) Cash-Based
Awards. The aggregate amount of compensation to be paid to any Participant in respect of those Cash-Based Awards that are granted during any calendar year as Performance-Based Awards shall not exceed $10,000,000. 

(d) Maximum Term of Awards. No Award that contemplates exercise or conversion may be exercised or converted to any extent, and no other
Award that defers vesting, shall remain outstanding and unexercised, unconverted or unvested more than ten years after the Date of Grant of the Award. 

(e) Code Section 409A. It is the intent of the Corporation that no Award under this Plan be subject to taxation under
Section 409A(a)(1) of the Code. Accordingly, if the Committee determines that an Award granted under this Plan is subject to Section 409A of the Code, such Award shall be interpreted and administered to meet the requirements of Sections
409A(a)(2), (3) and (4) of the Code and thus to be exempt from taxation under Section 409A(a)(1) of the Code.
 (f)
Out-of-the-Money Options or Stock Appreciation Rights. In no event shall the Corporation pay cash or other consideration for Options where at the time of payment the exercise price of the Option is less than the Fair Market Value of the Stock
underlying the Option or pay cash or other consideration for SARs where at the time of payment the base price established in the Award is less than the Fair Market Value of the Stock underlying the SAR. 

SECTION 5. Shares of Stock and Share Units Available Under Plan. 

(a) Aggregate Share Limit for Share-Based Awards. Subject to adjustment as provided in this Section 5 or Section 7, the
maximum number of shares of Stock that may be subject to Options (including Incentive Stock Options), SARs payable in shares of Stock, Restricted Stock and Stock Units payable in shares of Stock granted or issued under this Plan is 12,000,000, plus
the number of shares of Stock reserved for future awards under the Predecessor Plan as of February 24, 2011, plus the number of shares of Stock subject to awards outstanding under the Predecessor Plan as of February 24, 2011 that
thereafter are unexercised, unconverted or undistributed as a result of termination, expiration or forfeiture of the award, whether or not the individual holding the award received or was credited with benefits of ownership (such as dividends,
Dividend Equivalents or voting rights) during the period in which the individual’s ownership was restricted or otherwise not vested, including shares of Stock subject to Restricted Stock Awards that are subsequently reacquired by the
Corporation due to termination, expiration or forfeiture. 
 (b) Restriction on Recycling or Reissue of Shares and Share Units.
Shares of Stock issued upon the exercise of an Award or the vesting of an Award may not be used for a subsequent Award under this Plan. Any unexercised, unconverted or undistributed portion of any Award made under this Plan or any stock-based award
under the Predecessor Plan resulting from termination, expiration or forfeiture of that Award shall again be available for Award under Section 5(a), whether or not the Participant has received or been credited with benefits of ownership (such
as dividends, Dividend Equivalents or voting rights) during the period in which the Participant’s ownership was restricted or otherwise not vested. Shares of Stock that are issued pursuant to Restricted Stock Awards and subsequently reacquired
by the Corporation due to termination, expiration or forfeiture of the Award also shall be available for reissuance under this Plan. Shares of Stock subject to an Award that are reacquired by the Corporation to satisfy a withholding obligation of
the Participant shall not be available for reissue. With respect to SARs payable in shares of Stock, the number of shares of Stock subject to an Award shall be counted against the number of shares of Stock available for issuance under this Plan
regardless of the number of shares of Stock actually issued to settle the SARs upon exercise. 
 (c) Interpretive Issues. Additional
rules for determining the number of shares of Stock or Share Units authorized under this Plan or available for grant or issuance from time to time may be adopted by the Committee, as it deems necessary or appropriate. 

  
 7 

 (d) Source of Shares; No Fractional Shares. The Stock that may be issued pursuant to an
Award under this Plan may be authorized but unissued Stock or Stock acquired by the Corporation or any of its Subsidiaries, subsequently or in anticipation of a transaction under this Plan, in the open market or in privately negotiated transactions.
No fractional shares of Stock shall be issued under this Plan, but fractional interests may be accumulated pursuant to the terms of an Award. 

(e) Consideration. The Stock issued under this Plan may be issued (subject to Section 10(d)) for any lawful form of consideration,
the value of which equals the par value of the Stock or such greater or lesser value as the Committee, consistent with Sections 10(d), may require. 

(f) Purchase or Exercise Price; Withholding. The exercise or purchase price (if any) of the Stock issuable pursuant to any Award and
any withholding obligation under applicable tax laws shall be paid in cash or, subject to the Committee’s express authorization and the terms, restrictions, conditions and procedures as the Committee may in its sole discretion impose (subject
to Section 10(d)), any one or combination of (i) cash, (ii) the delivery of shares of Stock, (iii) a reduction in the number of Shares of Stock issuable or cash payable pursuant to such Award, (iv) the delivery of a
promissory note or other obligation for the future payment in money, or (v) in the case of purchase price only, labor or service as an Employee to be performed or actually performed. In the case of a payment by the means described in clause
(ii) or (iii) above, the Stock to be so delivered or offset shall be determined by reference to the Fair Market Value of the Stock on the date as of which the payment or offset is made. Notwithstanding the foregoing, no Insider shall be
permitted to satisfy the purchase or exercise price or withholding obligation with respect to an Award by using a method of payment otherwise authorized under this Plan or an Award Agreement if such method of payment would constitute a personal loan
under Section 13(k) of the Exchange Act. If an Award Agreement to a Participant who is not an Insider authorizes a method of payment that would constitute a personal loan under Section 13(k) of the Exchange Act and the Participant
subsequently becomes an Insider, then the payment method will no longer be available to the Participant and the Committee shall take whatever steps are necessary to make such payment method void as to such Participant, including but not limited to
requiring the immediate payment of any note or loan previously obtained in connection with an Award. 
 (g) Cashless Exercise.
Subject to any restrictions on Insiders pursuant to Section 13(k) of the Exchange Act, the Committee may permit the exercise of an Award and payment of any applicable withholding tax in respect of an Award by delivery of notice, subject to the
Corporation’s receipt from a third party of payment (or commitment to make payment) in full in cash for the exercise price and the applicable withholding prior to issuance of Stock, in the manner and subject to the procedures as may be
established by the Committee. 
 SECTION 6. Award Agreements. 

Each Award under this Plan shall be evidenced by an Award Agreement in a form approved by the Committee setting forth, in the case of
Share-Based Awards, the number of shares of Stock or Share Units, as applicable, subject to the Award, and the price (if any) and term of the Award and, in the case of Performance-Based Awards (other than a Qualifying Option or a Qualifying Stock
Appreciation Right), the applicable Performance Goals. The Award Agreement also shall set forth (or incorporate by reference) other material terms and conditions applicable to the Award as determined by the Committee consistent with the limitations
of this Plan. 
 (a) Mandatory Provisions for Options and SARs. Award Agreements for Options and SARs payable in stock shall be
deemed to contain the following provisions: 
 (1) Vesting: A provision providing for a minimum vesting schedule
pursuant to which no Award of Options may become fully exercisable prior to the third anniversary of the Date of Grant, and to the extent an Award provides for vesting in installments over a period of no less than three years, no portion of an Award
of Options may become exercisable prior to the first anniversary of the Date of Grant. In the event that the Participant is not an Employee on the date on which an Option would otherwise vest and become exercisable, the Options subject to that
vesting date will be forfeited. Notwithstanding the foregoing, (i) any Award Agreement governing Options may provide for any additional vesting requirements, including but not limited to longer periods of required employment or the achievement
of Performance Goals; (ii) any Award Agreement may provide that all or a portion of the Options subject to an Award vest immediately or, alternatively, vest in accordance with the vesting schedule but without

  
 8 

 
regard to the requirement for continued employment with the Corporation (or a Subsidiary) in the event of a Change in Control, or in the case of termination of employment with the Corporation (or
a Subsidiary) due to death, disability, layoff, retirement or divestiture, or in the case of a vesting period longer than three years, vest and become exercisable or fail to be forfeited and continue to vest in accordance with the schedule in the
Award Agreement prior to the expiration of any period longer than three years for any reason designated by the Committee; and (iii) any Award Agreement may provide that employment by another entity be treated as employment by the Corporation
(or a Subsidiary) in the event a Participant terminates employment with the Corporation (or a Subsidiary) on account of a divestiture. No Award Agreement may provide for accelerated vesting of Options on account of layoff beyond vesting of up to the
portion of the vesting period from the Date of Grant to the date on which a Participant’s employment terminates. The vesting requirements of this Section 6(a) shall also apply to Award Agreements governing SARs. 

(2) Option and SAR Holding Period: Subject to the authority of the Committee under Section 7, a minimum six-month
period shall elapse between the date of initial grant of any Option or SAR paid in Stock and the sale of the underlying shares of Stock, and the Corporation may impose legend and other restrictions on the Stock issued on exercise of the Options or
SARs to enforce this requirement. 
 (3) No Waivers: A provision that neither the Committee nor the Board of Directors
has retained the authority to waive the requirements set forth in Sections 6(a)(1). 
 (b) Mandatory Provisions for Restricted Stock and
Stock Units Payable in Stock. Award Agreements for Restricted Stock and Stock Units payable in Stock shall be deemed to contain the following provisions:

(1) Vesting: Provisions (I) requiring (A) a minimum vesting schedule pursuant to which no Award of Restricted
Stock may become fully vested prior to the third anniversary of the Date of Grant, and to the extent an Award provides for vesting in installments over a period of no less than three years, no portion of an Award of Restricted Stock may become
vested prior to the six-month anniversary of the Date of Grant, and (B) forfeiture of shares of Restricted Stock that remain unvested pursuant to the terms of the Award Agreement at the time a Participant ceases to be an Employee , (II)
prohibiting accelerated immediate full vesting of Restricted Stock on account of layoff and (III) prohibiting the sale or other transfer of any shares of Restricted Stock granted under an Award prior to the date on which such shares become vested
pursuant to the terms of the Award Agreement. 
 Notwithstanding the foregoing, any Award Agreement governing Restricted
Stock may provide (i) for any additional vesting or forfeiture requirements, including but not limited to longer periods of required employment or the achievement of Performance Goals; and (ii) that Restricted Stock vests, continues to
vest or vests on a pro rata basis and any forfeiture provisions or restrictions on sale of the vested portions of Restricted Stock lapse prior to the third anniversary of the Date of Grant (A) in the event of a termination of employment
following a Change in Control (except that vesting may occur upon or following a Change in Control without regard to termination of employment in the case of an employee who immediately prior to the Change in Control was not an officer of the
Corporation who had been elected as such by the Board), (B) in the case of termination of employment with the Corporation (or a Subsidiary) due to death, disability, layoff, retirement or divestiture (except that immediate vesting on account of
layoff is limited to a pro rata portion of the Award based on the portion of the vesting period from the Date of Grant to the date on which a Participant’s employment terminates), (C) to satisfy any Tax withholding requirement with respect
to the Restricted Stock, or (D) in the case of a vesting or forfeiture period longer than three years, prior to the expiration of any period longer than three years for any reason designated by the Committee. Dividends that become payable on
Restricted Stock will not be payable to the Participant but shall be accrued and held by the Corporation until such time as the restrictions lapse on the underlying Restricted Stock and the shares become transferrable, at which time the accrued
dividends shall be paid to the Participant; provided, however, that an Award Agreement may provide for accelerated vesting of Dividends, Dividend Equivalents, or DDEs associated with Restricted Stock to satisfy a Tax withholding requirement with
respect to such Award. The vesting and forfeiture requirements of this Section 6(b) shall also apply to Award Agreements governing Stock Units payable in Stock unless the Stock Units are granted in conjunction with, or are part of, another
Award. 
 (2) No Waivers: A provision that neither the Committee nor the Board of Directors has retained the authority
to waive the requirements set forth in Section 6(b)(1). 

  
 9 

 (c) Mandatory Provisions Applicable to All Award Agreements. Award Agreements shall be
subject to the terms of this Plan and shall be deemed to include the following terms, unless the Committee in the Award Agreement consistent with applicable legal considerations, provides otherwise: 

(1) Non-assignability: The Award shall not be assignable nor transferable, except by will or by the laws of descent and
distribution, and during the lifetime of a Participant, the Award shall be exercised only by the Participant or by his or her guardian or legal representative. The designation of a Beneficiary hereunder shall not constitute a transfer prohibited by
the foregoing provisions. 
 (2) Rights as Stockholder: A Participant shall have no rights as a holder of Stock with
respect to any unissued securities covered by an Award until the date the Participant becomes the holder of record of the securities. Except in the case of Restricted Stock and except as provided in Section 7, no adjustment or other provision
shall be made for dividends or other stockholder rights, except to the extent that the Award Agreement provides for Dividend Equivalents or similar economic benefits. 

(3) Tax Withholding: Each Participant shall be responsible for payment of all Taxes imposed on such Participant with
respect to an Award. All withholding Tax obligations shall be satisfied on or prior to the payment of an Award. If the Corporation concludes that any withholding Tax is required with respect to any Award (including with respect to associated
Dividends, Dividend Equivalents, or DDEs), and the Participant has not otherwise made arrangements acceptable to the Corporation to satisfy the withholding Tax obligation, the Corporation may (i) offset an amount sufficient to satisfy the
withholding Tax obligation against any obligation of the Corporation to the Participant, (ii) reduce the amount of the Award (including associated Dividends, Dividend Equivalents, or DDEs) paid to the Participant by an amount sufficient to
satisfy the withholding Tax obligation, or (iii) require the Participant or his or her Beneficiary to pay the Corporation an amount in cash equal to the withholding Tax obligation. The satisfaction of any withholding Taxes with respect to
Share-Based Awards also may be satisfied by cashless exercise as provided in Section 5(g). 
 (d) Other
Provisions. Award Agreements may include other terms and conditions as the Committee shall approve, including but not limited to the following: 

(1) Other Terms and Conditions: Any other terms not inconsistent with the terms of this Plan as are necessary,
appropriate, or desirable to effect an Award to a Participant, including provisions describing the treatment of an Award in the event of the death, disability, layoff, retirement, divestiture or other termination of a Participant’s employment
with or services to the Corporation or a Subsidiary, any provisions relating to the vesting, exercisability, forfeiture or cancellation of the Award, any requirements for continued employment, any other restrictions or conditions (including
performance requirements and holding periods) of the Award and the method by which the restrictions or conditions lapse, procedures acceptable to the Committee (if any) with respect to the effect on the Award of a Change in Control, subject, in the
case of Performance-Based Awards, to the requirements for “performance-based compensation” under Code Section 162(m) and in the case of Options, SARs payable in shares of Stock, Restricted Stock and Stock Units payable in shares of
Stock, to the requirements of Sections 6(a), (b) and (7). 
 (2) Non-competition and non-solicitation clause: A
provision or provisions requiring the forfeiture or recoupment of an Award (whether or not vested) on account of activities deemed by the Committee in its sole discretion to be harmful to the Corporation, including but not limited to employment with
a competitor, misuse of the Corporation’s proprietary or confidential information, or solicitation of the Corporation’s employees. 

(3) Claw-back: A provision entitling the Corporation to recoup any Award (whether or not vested) or value received for
an Award under circumstances specified in the Award Agreement or regulations, rules or interpretations of the Securities and Exchange Commission or other applicable law. 

  
 10 

 (e) Contract Rights, Forms and Signatures. Any obligation of the Corporation to any
Participant with respect to an Award shall be based solely upon contractual obligations created by this Plan and an Award Agreement. Subject to the provisions of Section 8(h), no Award shall be enforceable until the Award Agreement or an
acknowledgement of receipt has been signed by the Participant and on behalf of the Corporation by an Executive Officer (other than the recipient) or his or her delegate. By executing the Award Agreement or otherwise providing an acknowledgement of
receipt, a Participant shall be deemed to have accepted and consented to the terms of this Plan and any action taken in good faith under this Plan by and within the discretion of the Committee, the Board of Directors or their delegates. Unless the
Award Agreement otherwise expressly provides, there shall be no third party beneficiaries of the obligations of the Corporation to the Participant under the Award Agreement. 

SECTION 7. Adjustments; Change in Control; Acquisitions. 

(a) Adjustments. If there shall occur any recapitalization, stock dividend, stock split (including a stock split in the form of a stock
dividend), reverse stock split, merger, combination, consolidation, or other reorganization or any extraordinary dividend or other extraordinary distribution in respect of the Stock (whether in the form of cash, Stock or other property), or any
split-up, spin-off, split-off, extraordinary redemption, or exchange of outstanding Stock, or there shall occur any other similar corporate transaction or event in respect of the Stock, or a sale of all or substantially all the assets of the
Corporation as an entirety, then the Committee shall, in the manner and to the extent, if any, as it deems appropriate and equitable to the Participants and consistent with the terms of this Plan, and taking into consideration the effect of the
event on the holders of the Stock, proportionately adjust any or all of the following: 
 (1) the number and type of shares
of Stock and Share Units that thereafter may be made the subject of Awards (including the specific maximum and numbers of shares of Stock or Share Units set forth elsewhere in this Plan), 

(2) the number and type of shares of Stock, Share Units, cash or other property subject to any or all outstanding Awards, 

(3) the grant, purchase or exercise price, or conversion ratio of any or all outstanding Awards, or of the Stock, other
property or Share Units underlying the Awards, 
 (4) the securities, cash or other property deliverable upon exercise or
conversion of any or all outstanding Awards, 
 (5) subject to Section 4(b), the Performance Goals or other standards
appropriate to any outstanding Performance-Based Awards, or 
 (6) any other terms as are affected by the event. 

Notwithstanding the foregoing, in the case of an Incentive Stock Option, no adjustment shall be made that would cause this Plan to violate Section 424(a)
of the Code or any successor provisions thereto, without the written consent of the Participant adversely affected thereby. The Committee may act prior to an event described in this Section 7(a) (including at the time of an Award by means of
more specific provisions in the Award Agreement) if deemed necessary or appropriate to permit the Participant to realize the benefits intended to be conveyed by an Award in respect of the Stock in the case of an event described in Section 7(a).

 (b) Change in Control. The Committee may, in the Award Agreement, provide for the effect of a Change in Control on an Award. Such
provisions may include but are not limited to any one or more of the following with respect to any or all Awards: (i) the specific consequences of a Change in Control on the Awards; (ii) the acceleration or extension of time periods for
purposes of exercising, vesting in, or realizing gain from, the Awards; (iii) a reservation of the Committee’s right to determine in its discretion at any time that there shall be full acceleration or no acceleration of benefits under the
Awards; (iv) that only certain or limited benefits under the Awards shall be accelerated; (v) that the Awards shall be accelerated for a limited time only; or (vi) that acceleration of the Awards shall be subject to additional
conditions precedent (such as a termination of employment following a Change in Control). 

  
 11 

 In addition to any action required or authorized by the terms of an Award, the Committee may take
any other action it deems appropriate to ensure the equitable treatment of Participants in the event of or in anticipation of a Change in Control, including but not limited to any one or more of the following with respect to any or all Awards:
(i) the waiver of conditions on the Awards that were imposed for the benefit of the Corporation; (ii) provision for the cash settlement of the Awards for their equivalent cash value, as determined by the Committee, as of the date of a
Change in Control; (iii) provisions for the assumption or continuation of the Award and the substitution for shares of stock of a successor entity, or a parent or subsidiary thereof, with appropriate adjustments as to the number of shares,
exercise or conversion price and conditions of the Award; or (iv) such other modification or adjustment to the Awards as the Committee deems appropriate to maintain and protect the rights and interests of Participants upon or following a Change
in Control. The Committee also may accord any Participant a right to refuse any acceleration of exercisability, vesting or benefits, whether pursuant to the Award Agreement or otherwise, in such circumstances as the Committee may approve. 

Notwithstanding the foregoing provisions of this Section 7(b) or any provision in an Award Agreement to the contrary, if any Award to any
Insider is accelerated to a date that is less than six months after the Date of Grant, the Committee may prohibit a sale of the underlying Stock (other than a sale by operation of law), and the Corporation may impose legend and other restrictions on
the Stock to enforce this prohibition. 
 (c) Change in Control Definition. For purposes of this Plan, a “Change in
Control” shall include and be deemed to occur upon one or more of the following events: 
 (1) A tender offer or
exchange offer is consummated for the ownership of securities of the Corporation representing 25 percent or more of the combined voting power of the Corporation’s then outstanding voting securities entitled to vote in the election of directors
of the Corporation. 
 (2) The consummation of a merger, combination, consolidation, recapitalization, or other
reorganization of the Corporation with one or more other entities that are not Subsidiaries if, as a result of the consummation of the merger, combination, consolidation, recapitalization or other reorganization, less than 75 percent of the
outstanding voting securities of the surviving or resulting corporation shall immediately after the event be owned in the aggregate by the stockholders of the Corporation (directly or indirectly), determined on the basis of record ownership as of
the date of determination of holders entitled to vote on the action (or in the absence of a vote, the day immediately prior to the event). 

(3) Any person (as this term is used in Sections 3(a)(9) and 13(d)(3) of the Exchange Act, but excluding any person described
in and satisfying the conditions of Rule 13d-1(b)(1) thereunder), becomes the beneficial owner (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Corporation representing 25 percent or more of the
combined voting power of the Corporation’s then outstanding securities entitled to vote in the election of directors of the Corporation. 

(4) At any time within any period of two years after a tender offer, merger, combination, consolidation, recapitalization, or
other reorganization or a contested director election, or any combination of these events, the “Incumbent Directors” shall cease to constitute at least a majority of the authorized number of members of the Board. For purposes hereof,
“Incumbent Directors” shall mean the persons who were members of the Board immediately before the first of these events and the persons who were elected or nominated as their successors or pursuant to increases in the size of the Board by
a vote of at least three-fourths of the Board members who were then Board members (or successors or additional members so elected or nominated). 

(5) The stockholders of the Corporation approve a plan of liquidation and dissolution of the Corporation, or a sale or transfer
of all or substantially all of the Corporation’s business and/or assets as an entirety to an entity that is not a Subsidiary is consummated. 

  
 12 

 Notwithstanding the foregoing, in the event the Committee determines that an Award could be subject to taxation
under Section 409A(a)(1) of the Code, a Change in Control shall have no effect on the Award unless the Change in Control also would constitute a change in the ownership or effective control of the Corporation or in the ownership of a
substantial portion of the assets of the Corporation within the meaning of Section 409A(a)(2)(A)(v) of the Code. 
 (d) Business
Acquisitions. Awards may be granted under this Plan on terms and conditions as the Committee considers appropriate, which may differ from those otherwise required by this Plan, to the extent necessary to reflect a substitution for or assumption
of stock incentive awards held by employees of other entities who become Employees of the Corporation or a Subsidiary as the result of a merger, consolidation or business combination of the employing entity with, or the acquisition of assets or
stock of the employing entity by, the Corporation or a Subsidiary, directly or indirectly. 
 SECTION 8. Administration. 

(a) Committee Authority and Structure. This Plan and all Awards granted under this Plan shall be administered by the Management
Development and Compensation Committee of the Board or such other committee of the Board as may be designated by the Board and constituted so as to permit this Plan to comply with the disinterested administration requirements of Rule 16b-3 under the
Exchange Act and the “outside director” requirement of Code Section 162(m). The Board shall designate the members of the Committee. Notwithstanding the foregoing, any action taken under this Plan by the Management Development and
Compensation Committee of the Board or such other committee of the Board as may be designated by the Board to administer this Plan and Awards granted under this Plan shall be valid and effective whether or not members of the Committee at the time of
such action are later determined not to have satisfied the requirements for membership set forth in this Section 8(a) or otherwise provided in any charter of the Committee. 

(b) Selection and Grant. The Committee shall have the authority to determine the Employees to whom Awards will be granted under this
Plan, the type of Award or Awards to be made, and the nature, amount, pricing, timing, and other terms of Awards to be made to any one or more of these individuals, subject to the terms of this Plan. 

(c) Construction and Interpretation. The Committee shall have the power to interpret and administer this Plan and Award Agreements, and
to adopt, amend and rescind related rules and procedures. All questions of interpretation and determinations with respect to this Plan, the number of shares of Stock, SARs, or Share Units or other Awards granted, and the terms of any Award
Agreements, the adjustments required or permitted by Section 7, and other determinations hereunder shall be made by the Committee and its determination shall be final and conclusive upon all parties in interest. In the event of any conflict
between an Award Agreement and any non-discretionary provisions of this Plan, the terms of this Plan shall govern. 
 (d) Limited
Authority of Committee to Change Terms of Awards. In addition to the Committee’s authority under other provisions of this Plan (including Sections 7 and 9), the Committee shall have the authority to accelerate the exercisability or vesting
of an Award, to extend the term or waive early termination provisions of an Award (subject to the maximum ten-year term under Section 4(d)), and to waive the Corporation’s rights with respect to an Award or restrictive conditions of an
Award (including forfeiture conditions), in any case in such circumstances as the Committee deems appropriate. Notwithstanding the foregoing, the Committee’s authority under this Section 8(d) is subject to any express limitations of this
Plan (including under Sections 6(a), 6(b), 7 and 9) and this Section 8(d) does not authorize the Committee to accelerate exercisability or vesting or waive early termination provisions if that acceleration or waiver would be inconsistent with
the mandatory vesting requirements set forth in Sections 6(a)(1) and 6(b)(1). 
 (e) Rule 16b-3 Conditions; Bifurcation of Plan. It
is the intent of the Corporation that this Plan and Share-Based Awards hereunder satisfy and be interpreted in a manner, that, in the case of Participants who are or may be Insiders, satisfies any applicable requirements of Rule 16b-3, so that these
persons will be entitled to the benefits of Rule 16b-3 or other exemptive rules under Section 16 under the Exchange Act and will not be subjected to avoidable liability thereunder as to Awards intended to be entitled to the benefits of Rule
16b-3. If any provision of this Plan or of any Award would otherwise frustrate or conflict with the intent expressed in this Section 8(e), that provision to the extent possible shall be interpreted and deemed amended so as to avoid such
conflict. To the extent of any 

  
 13 

 
remaining irreconcilable conflict with this intent, the provision shall be deemed disregarded as to Awards intended as Rule 16b-3 exempt Awards. Notwithstanding anything to the contrary in this
Plan, the provisions of this Plan may at any time be bifurcated by the Board or the Committee in any manner so that certain provisions of this Plan or any Award Agreement intended (or required in order) to satisfy the applicable requirements of Rule
16b-3 are only applicable to Insiders and to those Awards to Insiders intended to satisfy the requirements of Rule 16b-3. 
 (f)
Delegation and Reliance. The Committee may delegate to the officers or employees of the Corporation the authority to execute and deliver those instruments and documents, to do all acts and things, and to take all other steps deemed necessary,
advisable or convenient for the effective administration of this Plan in accordance with its terms and purpose, except that the Committee may not delegate any discretionary authority to grant or amend an Award or with respect to substantive
decisions or functions regarding this Plan or Awards as these relate to the material terms of Performance-Based Awards to Executive Officers or to the timing, eligibility, pricing, amount or other material terms of Awards to Insiders. In making any
determination or in taking or not taking any action under this Plan, the Board and the Committee may obtain and may rely upon the advice of experts, including professional advisors to the Corporation. No director, officer, employee or agent of the
Corporation shall be liable for any such action or determination taken or made or omitted in good faith. 
 (g) Exculpation and
Indemnity. Neither the Corporation nor any member of the Board of Directors or of the Committee, nor any other person participating in any determination of any question under this Plan, or in the interpretation, administration or application of
this Plan, shall have any liability to any party for any action taken or not taken in good faith under this Plan or for the failure of an Award (or action in respect of an Award) to satisfy Code requirements as to incentive stock options or to
realize other intended tax consequences, to qualify for exemption or relief under Rule 16b-3 or to comply with any other law, compliance with which is not required on the part of the Corporation. 

(h) Notices, Signature, Delivery. Whenever a signature, notice or delivery of a document, or acknowledgement of receipt of a document,
is required or appropriate under this Plan or pursuant to an Award Agreement, signature, notice, delivery or acknowledgement may be accomplished by paper or written format, or, subject to Section 10(d), by electronic means. In the event
electronic means are used for the signature, notice or delivery of a document, or acknowledgement of receipt of a document, the electronic record or confirmation of that signature, notice, delivery or acknowledgement maintained by or on behalf of
the Corporation shall for purposes of this Plan and any applicable Award Agreement be treated as if it was a written signature, notice or acknowledgement and was delivered in the manner provided herein for a written document. 

SECTION 9. Amendment and Termination of this Plan. 

The Board of Directors may at any time terminate, suspend or discontinue this Plan. The Board of Directors may amend this Plan at any time,
provided that any material amendment to this Plan will not be effective unless approved by the Corporation’s stockholders. For this purpose, a material amendment is any amendment that would (i) materially increase the number of shares of
Stock available under this Plan or issuable to a Participant (other than a change in the number of shares made pursuant to Section 7); (ii) change the types of awards that may be granted under this Plan; (iii) expand the class of
persons eligible to receive awards or otherwise participate in this Plan; (iv) reduce the price at which an Option is exercisable or the base price of a SAR, either by amendment of an Award Agreement or by substitution of a new Award at a
reduced price (other than as permitted in Section 7); or (v) require stockholder approval pursuant to the New Stock Exchange Listed Company Manual (so long as the Corporation is a listed company on the New York Stock Exchange) or
applicable law. The Committee may at any time alter or amend any or all Award Agreements under this Plan in any manner that would be authorized for a new Award under this Plan, including but not limited to any manner set forth in Section 8(d)
(subject to any applicable limitations thereunder), so long as such an amendment would not require approval of the Corporation’s stockholders, if such amendment was made to this Plan. Notwithstanding the foregoing, no such action by the Board
or the Committee shall, in any manner adverse to a Participant other than as expressly permitted by the terms of an Award Agreement, affect any Award then outstanding and evidenced by an Award Agreement without the consent in writing of the
Participant or a Beneficiary who has become entitled to an Award thereunder. 

  
 14 

 SECTION 10. Miscellaneous. 

(a) Unfunded Plan. This Plan shall be unfunded. Neither the Corporation, the Board of Directors nor the Committee shall be required to
segregate any assets that may at any time be represented by Awards made pursuant to this Plan. Neither the Corporation, the Board of Directors, nor the Committee shall be deemed to be a trustee of any amounts to be paid or securities to be issued
under this Plan. 
 (b) Rights of Employees. 

(1) No Right to an Award. Status as an Employee shall not be construed as a commitment that any one or more Awards will
be made under this Plan to an Employee or to Employees generally. Status as a Participant shall not entitle the Participant to any additional future Awards. 

(2) No Assurance of Employment. Nothing contained in this Plan (or in any other documents related to this Plan or to any
Award) shall confer upon any Employee or Participant any right to continue in the employ or other service of the Corporation or any Subsidiary or constitute any contract (of employment or otherwise) or limit in any way the right of the Corporation
or any Subsidiary to change a person’s compensation or other benefits or to terminate the employment of a person with or without cause. 

(c) Effective Date; Duration. This Plan has been adopted by the Board of Directors of the Corporation and shall become effective upon
and shall be subject to the approval of the Corporation’s stockholders. This Plan shall remain in effect until any and all Awards under this Plan have been exercised, converted or terminated under the terms of this Plan and applicable Award
Agreements. Notwithstanding the foregoing, no Award may be granted under this Plan after April 27, 2021. Notwithstanding the foregoing, any Award granted under this Plan on or prior to April 27, 2021 may be amended after such date in any
manner that would have been permitted prior to such date, except that no such amendment shall increase the number of shares of Stock or Stock Units subject to, comprising or referenced in such Award (other than in accordance with Section 7(a)).

 (d) Compliance with Laws. This Plan, Award Agreements, and the grant, exercise, conversion, operation and vesting of Awards, and
the issuance and delivery of shares of Stock and/or other securities or property or the payment of cash under this Plan, Awards or Award Agreements, are subject to compliance with all applicable federal and state laws, rules and regulations
(including but not limited to state and federal insider trading, registration, reporting and other securities laws and federal margin requirements) and to such approvals by any listing, regulatory or governmental authority as may, in the opinion of
counsel for the Corporation, be necessary or advisable to comply with all legal requirements. Any securities delivered under this Plan shall be subject to such restrictions (and the person acquiring such securities shall, if requested by the
Corporation, provide such evidence, assurance and representations to the Corporation as to compliance with any thereof) as counsel to the Corporation may deem necessary or desirable to assure compliance with all applicable legal requirements. 

(e) Applicable Law. This Plan, Award Agreements and any related documents and matters shall be governed by and in accordance with the
laws of the State of Maryland (without regard to its provisions regarding choice of law), except as to matters of federal law. 
 (f)
Awards to Participants Outside the United States. Notwithstanding any provision of this Plan to the contrary, in order to comply with the laws of other countries in which the Corporation and its Subsidiaries operate or have employees, the
Committee shall have the authority to modify the terms and conditions of Awards granted to Employees outside the United States to comply with applicable foreign laws and to take any action, before or after an Award is made, that it deems necessary
or advisable to obtain approval or comply with local government, regulatory, tax, exemption, approval or other requirements. 
 (g)
Non-Exclusivity of Plan. Nothing in this Plan shall limit or be deemed to limit the authority of the Corporation, the Board of Directors or the Committee to grant awards or authorize any other compensation, with or without reference to the
Stock, under any other plan or authority. 

  
 15EX-10.5

 Exhibit 10.5 

PURE STORAGE, INC. 

2015 EQUITY INCENTIVE PLAN 

STOCK OPTION GRANT NOTICE 

Pure Storage, Inc. (the “Company”), pursuant to its 2015 Equity Incentive Plan (the “Plan”), hereby grants to
Optionholder an option to purchase the number of shares of the Company’s Common Stock set forth below. This option is subject to all of the terms and conditions as set forth in this notice, in the Option Agreement, including any special terms
and conditions for your country set forth in the appendix attached to the Option Agreement as Exhibit A (the “Appendix”), the Plan and the Notice of Exercise, all of which are attached hereto and incorporated herein in
their entirety. Capitalized terms not explicitly defined herein but defined in the Plan or the Option Agreement will have the same definitions as in the Plan or the Option Agreement. If there is any conflict between the terms in this notice and the
Plan, the terms of the Plan will control. 
  

			
	Optionholder:	  	  

	Date of Grant:	  	  

	Vesting Commencement Date:	  	  

	Number of Shares Subject to Option:	  	  

	Exercise Price (Per Share):	  	  

	Total Exercise Price:	  	  

	Expiration Date:	  	  

  

					
	Type of Grant: 	  	 ̈ Incentive Stock Option1	  	 ̈ Nonstatutory Stock Option
			
	Exercise Schedule:	  		  	Same as Vesting Schedule
			
	Vesting Schedule:	  		  	
		
	Payment:	  	By one or a combination of the following items (described in the Option Agreement):
		
		  	 ̈ By cash, check, bank draft or money order payable to the Company or to a Company Designee
		  	 ̈ Pursuant to a Regulation T Program if the shares are publicly traded
		  	 ̈ By delivery of already-owned shares if the shares are publicly traded, [subject to the Company’s consent at the time of exercise to the extent this option is a
Nonstatutory Stock Option]
		  	 ̈ If and only to the extent this option is a Nonstatutory Stock Option, and subject to the Company’s consent at the time of exercise, by a “net exercise”
arrangement

  

	1 	If this is an Incentive Stock Option, it (plus other outstanding Incentive Stock Options) cannot be first exercisable for more than US $100,000 in value (measured by exercise price) in any calendar year. Any
excess over US $100,000 is a Nonstatutory Stock Option. 

  
 1 

 Additional Terms/Acknowledgements: Optionholder acknowledges receipt of, and understands and agrees to,
this Stock Option Grant Notice, the Option Agreement (including the Appendix) and the Plan. Optionholder acknowledges and agrees that this Stock Option Grant Notice and the Option Agreement (including the Appendix) may not be modified, amended or
revised except as provided in the Plan. Optionholder further acknowledges that as of the Date of Grant, this Stock Option Grant Notice, the Option Agreement (including the Appendix), and the Plan set forth the entire understanding between
Optionholder and the Company regarding this option award and supersede all prior oral and written agreements, promises and/or representations on that subject with the exception of (i) options previously granted and delivered to Optionholder,
(ii) any compensation recovery policy that is adopted by the Company or is otherwise required by applicable law and (iii) any written employment or severance arrangement that would provide for vesting acceleration of this option upon the
terms and conditions set forth therein. 
 By accepting this option, Optionholder consents to receive such documents by electronic delivery and to
participate in the Plan through an online or electronic system established and maintained by the Company or to a Company Designee. 
  

									
	PURE STORAGE, INC. 	  		  	OPTIONHOLDER: 
				
	By:	  	  
	  		  	  

	Signature	  		  	Signature
	Title:	  	  
	  		  	Date:	  	  

	Date:	  	  
	  		  		  	

 ATTACHMENTS: Option Agreement (including the Appendix), 2015 Equity Incentive Plan and
Notice of Exercise 

  
 2 

 ATTACHMENT I 

OPTION AGREEMENT 

 PURE STORAGE, INC. 

2015 EQUITY INCENTIVE PLAN 

OPTION AGREEMENT 

(INCENTIVE STOCK OPTION OR NONSTATUTORY STOCK
OPTION) 
 Pursuant to your Stock Option Grant Notice (“Grant Notice”) and this Option Agreement,
including any special terms and conditions for your country set forth in the appendix attached hereto as Exhibit A (the “Appendix” and, together with the Option Agreement, the “Agreement”), Pure
Storage, Inc. (the “Company”) has granted you an option under its 2015 Equity Incentive Plan (the “Plan”) to purchase the number of shares of the Company’s Common Stock indicated in your Grant
Notice at the exercise price indicated in your Grant Notice. The option is granted to you effective as of the date of grant set forth in the Grant Notice (the “Date of Grant”). If there is any conflict between the terms in
this Agreement and the Plan, the terms of the Plan will control. Capitalized terms not explicitly defined in this Agreement or in the Grant Notice but defined in the Plan will have the same definitions as in the Plan. 

The details of your option, in addition to those set forth in the Grant Notice and the Plan, are as follows: 

1. VESTING. Subject to the provisions contained herein, your option will vest as provided in your Grant Notice. Vesting
will cease upon the termination of your Continuous Service, except in the case of your death. If your Continuous Service terminates by reason of your death, vesting of your option will be accelerated and your executor, the administrator of your
estate or your legal heirs may exercise your option in accordance with Section 7 below. 
 2. NUMBER
OF SHARES AND EXERCISE PRICE. The number of shares of Common Stock subject to your option and your exercise price per share in your Grant Notice will be adjusted for
Capitalization Adjustments. 
 3. EXERCISE RESTRICTION FOR
NON-EXEMPT EMPLOYEES. If you are an Employee eligible for overtime compensation under the U.S. Fair Labor Standards Act of 1938, as amended (that is, a “Non-Exempt Employee”),
and except as otherwise provided in the Plan, you may not exercise your option until you have completed at least six (6) months of Continuous Service measured from the Date of Grant, even if you have already been an employee for more than six
(6) months. Consistent with the provisions of the U.S. Worker Economic Opportunity Act, you may exercise your option as to any vested portion prior to such six (6) month anniversary in the case of (i) your death or disability,
(ii) a Corporate Transaction in which your option is not assumed, continued or substituted, (iii) a Change in Control or (iv) your termination of Continuous Service on your “retirement” (as defined in the Company’s
benefit plans). 

  
 1 

 4. METHOD OF PAYMENT. You must pay the full
amount of the exercise price for the shares you wish to exercise. You may pay the exercise price in cash or by check, bank draft or money order payable to the Company or in any other manner permitted by your Grant Notice, which may include one or
more of the following: 
 (a) Pursuant to a program developed under Regulation T as promulgated by the Federal Reserve Board that,
prior to the issuance of Common Stock, results in either the receipt of cash (or check) by the Company or the receipt of irrevocable instructions to pay the aggregate exercise price to the Company from the sales proceeds. This manner of payment is
also known as a “broker-assisted exercise”, “same day sale”, or “sell to cover”. 
 (b) Subject to the
consent of the Company at the time of exercise, if this option is a Nonstatutory Stock Option, by delivery to the Company (either by actual delivery or attestation) of already-owned shares of Common Stock that are owned free and clear of any liens,
claims, encumbrances or security interests, and that are valued at Fair Market Value on the date of exercise. “Delivery” for these purposes, in the sole discretion of the Company at the time you exercise your option, will include delivery
to the Company of your attestation of ownership of such shares of Common Stock in a form approved by the Company. You may not exercise your option by delivery to the Company of Common Stock if doing so would violate the provisions of any law,
regulation or agreement restricting the redemption of the Company’s stock. 
 (c) If this option is a Nonstatutory Stock Option,
subject to the consent of the Company at the time of exercise, by a “net exercise” arrangement pursuant to which the Company will reduce the number of shares of Common Stock issued upon exercise of your option by the largest whole number
of shares with a Fair Market Value that does not exceed the aggregate exercise price. You must pay any remaining balance of the aggregate exercise price not satisfied by the “net exercise” in cash or other permitted form of payment. Shares
of Common Stock will no longer be outstanding under your option and will not be exercisable thereafter if those shares (i) are used to pay the exercise price pursuant to the “net exercise,” (ii) are delivered to you as a result
of such exercise, and (iii) are withheld to satisfy your obligations for Tax-Related Items (as defined in Section 10 below). 

5. WHOLE SHARES. You may exercise your option only for whole shares of Common Stock. 

6. COMPLIANCE. In no event may you exercise your option unless the shares of Common Stock issuable upon exercise are
then registered under the Securities Act or, if not registered, the Company has determined that your exercise and the issuance of the shares would be exempt from the registration requirements of the Securities Act. The exercise of your option also
must comply with all other applicable laws and regulations governing your option, including any state, federal and foreign laws, and you may not exercise your option if the Company determines that such exercise would not be in material compliance
with such laws and regulations (including any restrictions on exercise required for compliance with Treas. Reg. 1.401(k)-1(d)(3), if applicable). 

  
 2 

 7. TERM. You may not exercise your option before the Date of Grant or after
the expiration of the option’s term. The term of your option expires, subject to the provisions of Section 5(h) of the Plan, upon the earliest of the following: 

(a) immediately upon the date on which the event giving rise to your termination of Continuous Service for Cause occurs (or, if
required by law, the date of termination of Continuous Service for Cause); 
 (b) three (3) months after the termination of your
Continuous Service for any reason other than Cause, your Disability or your death (except as otherwise provided in Section 7(d) below); provided, however, that if during any part of such three (3) month period your option is
not exercisable solely because of the condition set forth in the section above relating to “Compliance,” your option will not expire until the earlier of the Expiration Date or until it has been exercisable for an aggregate period of three
(3) months after the termination of your Continuous Service; provided further, if during any part of such three (3) month period, the sale of any Common Stock received upon exercise of your option would violate the Company’s
insider trading policy, then your option will not expire until the earlier of the Expiration Date or until it has been exercisable for an aggregate period of three (3) months after the termination of your Continuous Service during which the
sale of the Common Stock received upon exercise of your option would not be in violation of the Company’s insider trading policy. Notwithstanding the foregoing, if (i) you are a Non-Exempt Employee, (ii) your Continuous Service
terminates within six (6) months after the Date of Grant, and (iii) you have vested in a portion of your option at the time of your termination of Continuous Service, your option will not expire until the earlier of (x) the later of
(A) the date that is seven (7) months after the Date of Grant, and (B) the date that is three (3) months after the termination of your Continuous Service, and (y) the Expiration Date; 

(c) twelve (12) months after the termination of your Continuous Service due to your Disability (except as otherwise provided in
Section 7(d)) below; 
 (d) eighteen (18) months after your death if you die either during your Continuous Service or
within three (3) months after your Continuous Service terminates for any reason other than Cause; 
 (e) in certain
circumstances upon the effective date of a Transaction as set forth in the Plan; 
 (f) the Expiration Date indicated in your Grant
Notice; or 
 (g) the day before the tenth (10th) anniversary of the Date of Grant. 

If your option is an Incentive Stock Option, note that to obtain the U.S. federal income tax advantages associated with an Incentive Stock
Option, the Code requires that at all times beginning on the Date of Grant and ending on the day three (3) months before the date of your option’s exercise, you must be an employee of the Company or an Affiliate, except in the event of
your death or Disability. The Company has provided for extended exercisability of your option under certain circumstances for your benefit but cannot guarantee that your option will necessarily be treated as an Incentive Stock Option if you continue
to provide services to the Company or an Affiliate as a Consultant or Director after your employment terminates or if you otherwise exercise your option more than three (3) months after the date your employment with the Company or an Affiliate
terminates. 

  
 3 

 For purposes of your option, your Continuous Service will be considered terminated (regardless of
the reason of termination, whether or not later found to be invalid or in breach of employment or other laws or rules in the jurisdiction where you are providing service or the terms of your employment or service agreement, if any) effective as of
the date that you cease to actively provide services to the Company or any Affiliate and will not be extended by any notice period (e.g., employment or service would not include any contractual notice or any period of “garden leave”
or similar period mandated under employment or other laws in the jurisdiction where you are employed or providing services or the terms of your employment or service agreement, if any); the Board shall have exclusive discretion to determine when you
are no longer actively employed or providing services for purposes of the Plan (including whether you still may be considered to be providing services while on a leave of absence). 

8. EXERCISE. 

(a) You may exercise the vested portion of your option during its term by (i) delivering a Notice of Exercise (in a form designated
by the Company) or completing such other documents and/or procedures designated by the Company for exercise and (ii) paying the exercise price and any applicable Tax-Related Items to the Company’s Secretary, stock plan administrator, or
such other person as the Company may designate, together with such additional documents as the Company may then require. 
 (b) By
exercising your option you agree that, as a condition to any exercise of your option, the Company may require you to enter into an arrangement providing for the payment by you to the Company of any Tax-Related Items. 

(c) If your option is an Incentive Stock Option, by exercising your option you agree that you will notify the Company in writing within
fifteen (15) days after the date of any disposition of any of the shares of the Common Stock issued upon exercise of your option that occurs within two (2) years after the Date of Grant or within one (1) year after such shares of
Common Stock are transferred upon exercise of your option. 
 9. TRANSFERABILITY. Except as otherwise provided in this
Section 9, your option is not transferable, except by will or by the laws of descent and distribution, and is exercisable during your life only by you. 

(a) Certain Trusts. Upon receiving written permission from the Board or its duly authorized designee, you may transfer your option to a
trust if you are considered to be the sole beneficial owner (determined under Section 671 of the Code and applicable state law, or comparable local law) while the option is held in the trust. You and the trustee must enter into transfer and
other agreements required by the Company. 
 (b) Domestic Relations Orders. Upon receiving written permission from the Board or its
duly authorized designee, and provided that you and the designated transferee enter into transfer and other agreements required by the Company, you may transfer your option pursuant to the terms of a domestic relations order, official marital
settlement agreement or other divorce or separation instrument as permitted by Treasury Regulation 1.421-1(b)(2), or comparable local law, that contains the information required by the Company to effectuate the

  
 4 

 
transfer. You are encouraged to discuss the proposed terms of any division of this option with the Company prior to finalizing the domestic relations order or marital settlement agreement to help
ensure the required information is contained within the domestic relations order or marital settlement agreement. If this option is an Incentive Stock Option, this option may be deemed to be a Nonstatutory Stock Option as a result of such transfer.

 (c) Beneficiary Designation. Upon receiving written permission from the Board or its duly authorized designee, you may, by
delivering written notice to the Company, in a form approved by the Company and any broker designated by the Company to handle option exercises, designate a third party who, on your death, will thereafter be entitled to exercise this option and
receive the Common Stock or other consideration resulting from such exercise. In the absence of such a designation, your executor or administrator of your estate or your legal heirs will be entitled to exercise this option and receive, on behalf of
your estate, the Common Stock or other consideration resulting from such exercise. 
 10. RESPONSIBILITY
FOR TAXES. 
 (a) You acknowledge that, regardless of any action the Company
or, if different, your employer (the “Employer”) takes with respect to any or all income tax, social insurance, payroll tax, fringe benefit tax, payment on account or other tax related items related to your participation in
the Plan and legally applicable to you (“Tax-Related Items”), the ultimate liability for all Tax-Related Items is and remains your responsibility and may exceed the amount actually withheld by the Company or the Employer. You
further acknowledge that the Company and the Employer (i) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of your option, including, but not limited to, the grant, vesting
or exercise of your option, the subsequent sale of shares of Common Stock acquired pursuant to such exercise and the receipt of any dividends; and (ii) do not commit to and are under no obligation to structure the terms of the grant or any
aspect of your option to reduce or eliminate your liability for Tax-Related Items or achieve any particular tax result. You acknowledge and agree that you will not make any claim against the Company, or any of its Officers, Directors, Employees or
Affiliates for Tax-Related Items arising from your option or your other compensation. In particular, you acknowledge that this option is exempt from Section 409A of the Code only if the exercise price per share specified in the Grant Notice is
at least equal to the “fair market value” per share of the Common Stock on the Date of Grant and there is no other impermissible deferral of compensation associated with the option. Further, if you are subject to Tax-Related Items in more
than one jurisdiction, you acknowledge that the Company and/or the Employer may be required to withhold or account for Tax-Related Items in more than one jurisdiction. 

(b) Prior to the relevant taxable or tax withholding event, as applicable, you agree to make adequate arrangements satisfactory to the
Company and/or the Employer to satisfy all Tax-Related Items. In this regard, you authorize the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations with regard to all Tax-Related
Items by withholding from: (i) your wages or other cash compensation paid to you by the Company and/or the Employer, (ii) proceeds of the sale of shares of Common Stock acquired at exercise of your option and sold either through a
voluntary sale or through a mandatory sale arranged by the Company (on your behalf pursuant to this authorization without 

  
 5 

 
further consent); and/or (iii) withholding a number of shares of Common Stock that are otherwise deliverable to you upon exercise having a fair market value determined by the Company as of
the date of the relevant taxable or tax withholding event, as applicable. 
 (c) Depending on the withholding method, the Company or
the Employer may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding amounts or other applicable withholding rates, including maximum applicable rates, in which case you will receive a refund of any
over-withheld amount in cash and will have no entitlement to the Common Stock equivalent. If the obligation for Tax-Related Items is satisfied by withholding in shares of Common Stock, for tax purposes, you are deemed to have been issued the full
number of shares of Common Stock, notwithstanding that a number of the shares of Common Stock is held back solely for the purpose of paying the Tax-Related Items. 

(d) You agree to pay to the Company or the Employer any amount of Tax-Related Items that the Company or the Employer may be required to
withhold or account for as a result of your participation in the Plan that cannot be satisfied by the means previously described. You acknowledge and agree that the Company may refuse to honor the exercise and refuse to issue or deliver the shares
of Common Stock, or the proceeds of the sale of the shares of Common Stock, if you fail to comply with your obligations in connection with the Tax-Related Items. 

11. NATURE OF GRANT. In accepting your option, you acknowledge, understand
and agree that: 
 (a) the Plan is established voluntarily by the Company, it is discretionary in nature, and may be amended,
suspended or terminated by the Company at any time, to the extent permitted under the Plan; 
 (b) the grant of the option is
voluntary and occasional and does not create any contractual or other right to receive future grants of options (whether on the same or different terms), or benefits in lieu of options, even if options have been granted in the past; 

(c) all decisions with respect to future options or other grants, if any, will be at the sole discretion of the Company; 

(d) this option and your participation in the Plan shall not create a right to employment or be interpreted as forming an employment or
service contract with the Company and shall not interfere with the ability of the Employer to terminate your employment or service relationship (if any); 

(e) you are voluntarily participating in the Plan; 

(f) this option and any shares of Common Stock acquired under the Plan, and the income and value of same, are not intended to replace
any pension rights or compensation; 

  
 6 

 (g) this option and any shares of Common Stock acquired under the Plan, and the income and
value of same, are not part of normal or expected compensation for any purpose, including, without limitation, calculating any severance, resignation, termination, redundancy, dismissal, end-of-service payments, bonuses, long-service awards, pension
or retirement or welfare benefits or similar payments; 
 (h) the future value of the shares of Common Stock underlying the option is
unknown, indeterminable, and cannot be predicted with certainty; 
 (i) if the underlying shares of Common Stock do not increase in
value, the option will have no value; 
 (j) if you exercise the option and acquire shares of Common Stock, the value of such shares
of Common Stock may increase or decrease in value, even below the exercise price; 
 (k) unless otherwise provided in the Plan or by
the Company in its discretion, the option and the benefits evidenced by this Agreement do not create any entitlement to have the option or any such benefits transferred to, or assumed by, another company nor to be exchanged, cashed out or
substituted for, in connection with any corporate transaction affecting the shares of Common Stock; 
 (l) neither the Company nor
any Affiliate shall be liable for any foreign exchange rate fluctuation between your local currency and the United States Dollar that may affect the value of the option or of any amounts due to you pursuant to the exercise of the option or the
subsequent sale of any shares of Common Stock acquired upon exercise; 
 (m) no claim or entitlement to compensation or damages shall
arise from forfeiture of this option resulting from the termination of your Continuous Service (for any reason whatsoever, whether or not later found to be invalid or in breach of employment laws in the jurisdiction where you are employed or the
terms of your employment or service agreement, if any), and in consideration of the grant of this option to which you are otherwise not entitled, you irrevocably agree never to institute any claim against the Company or any Affiliate, waive your
ability, if any, to bring any such claim, and release the Company and any Affiliate from any such claim; if, notwithstanding the foregoing, any such claim is allowed by a court of competent jurisdiction, then, by participating in the Plan, you shall
be deemed irrevocably to have agreed not to pursue such claim and agree to execute any and all documents necessary to request dismissal or withdrawal of such claim; and 

(n) this option and any shares of Common Stock acquired under the Plan, and the income and value of same, are not granted as
consideration for, or in connection with, the service you may provide as a director of an Affiliate. 
 12. NO
ADVICE REGARDING GRANT. The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding your participation in the Plan, or your
acquisition or sale of the underlying shares of Common Stock. You are hereby advised to consult with your own personal tax, legal and financial advisors regarding your participation in the Plan before taking any action related to the Plan. 

  
 7 

 13. DATA PRIVACY. You hereby explicitly
and unambiguously consent to the collection, use and transfer, in electronic or other form, of your personal data as described in this Agreement and any other option grant materials by and among, as applicable, Employer, the Company and any other
Affiliate for the exclusive purpose of implementing, administering and managing your participation in the Plan. 
 You
understand that the Company and the Employer may hold certain personal information about you, including, but not limited to, your 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 options or any other entitlement to shares of stock awarded, canceled, exercised, vested, unvested or outstanding in your favor (“Data”), for
the exclusive purpose of implementing, administering and managing the Plan. 
 You understand that Data will be transferred to
Morgan Stanley Smith Barney LLC, or such other stock plan service provider as may be selected by the Company in the future, which is assisting the Company with the implementation, administration and management of the Plan. You understand that the
recipients of Data may be located in the United States or elsewhere, and that the recipient’s country (e.g., the United States) may have different data privacy laws and protections than your country. You understand that if
you reside outside the United States, you may request a list with the names and addresses of any potential recipients of Data by contacting your local human resources representative. You authorize the Company, Morgan Stanley Smith Barney LLC and any
other possible recipients which may assist the Company (presently or in the future) with implementing, administering and managing the Plan to receive, possess, use, retain and transfer Data, in electronic or other form, for the sole purposes of
implementing, administering and managing your participation in the Plan. You understand that Data will be held only as long as is necessary to implement, administer and manage your participation in the Plan. You understand that if you reside outside
the United States, you may, 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 your local human resources representative. Further, you understand that you are providing the consents herein on a purely voluntary basis. If you do not consent, or if you later seek to revoke your consent, your employment status or
service and career with the Company or any Affiliate will not be adversely affected; the only consequence of refusing or withdrawing your consent is that the Company would not be able to grant options or other equity awards to you or administer or
maintain such awards. Therefore, you understand that refusing or withdrawing your consent may affect your ability to participate in the Plan. For more information on the consequences of your refusal to consent or withdrawal of consent, you
understand that you may contact your local human resources representative. 
 14. NOTICES. Any notices
provided for in your option or the Plan will be given in writing (including electronically) and will be deemed effectively given upon receipt or, in the 

  
 8 

 
case of notices delivered by mail by the Company to you, five (5) days after deposit in the United States mail, postage prepaid, addressed to you at the last address you provided to the
Company. The Company may, in its sole discretion, decide to deliver any documents related to participation in the Plan and this option by electronic means or to request your consent to participate in the Plan by electronic means. By accepting this
option, you consent to receive such documents by electronic delivery and to participate in the Plan through an on-line or electronic system established and maintained by the Company or a third party designated by the Company. 

15. GOVERNING PLAN DOCUMENT. Your option is subject to all the provisions of the Plan, the
provisions of which are hereby made a part of your option, and is further subject to all interpretations, amendments, rules and regulations, which may from time to time be promulgated and adopted pursuant to the Plan. If there is any conflict
between the provisions of your option and those of the Plan, the provisions of the Plan will control. In addition, your option (and any compensation paid or shares issued under your option) is subject to recoupment in accordance with The U.S.
Dodd–Frank Wall Street Reform and Consumer Protection Act and any implementing regulations thereunder, any clawback policy adopted by the Company and any compensation recovery policy otherwise required by applicable law. 

16. OTHER DOCUMENTS. You hereby acknowledge receipt of and the right to receive a document
providing the information required by Rule 428(b)(1) promulgated under the Securities Act, which includes the Plan prospectus. In addition, you acknowledge receipt of the Company’s policy permitting certain individuals to sell shares only
during certain “window” periods and the Company’s insider trading policy, in effect from time to time. 
 17.
VOTING RIGHTS. You will not have voting or any other rights as a stockholder of the Company with respect to the shares to be issued pursuant to this option until such shares are issued to you. Upon
such issuance, you will obtain full voting and other rights as a stockholder of the Company. Nothing contained in this option, and no action taken pursuant to its provisions, will create or be construed to create a trust of any kind or a fiduciary
relationship between you and the Company or any other person. 
 18. SEVERABILITY. If all or any part
of this Agreement or the Plan is declared by any court or governmental authority to be unlawful or invalid, such unlawfulness or invalidity will not invalidate any portion of this Agreement or the Plan not declared to be unlawful or invalid. Any
Section of this Agreement (or part of such a Section) so declared to be unlawful or invalid shall, if possible, be construed in a manner which will give effect to the terms of such Section or part of a Section to the fullest extent possible while
remaining lawful and valid. 
 19. LANGUAGE. If you have received this Agreement, or any other document
related to your option and/or the Plan translated into a language other than English and if the meaning of the translated version is different than the English version, the English version will control. 

20. INSIDER TRADING RESTRICTIONS/MARKET ABUSE
LAWS. You acknowledge that, depending on your country, you may be subject to insider trading restrictions and/or market abuse laws, which may affect your ability to acquire or sell the shares of Common Stock or
rights to the shares of Common Stock under the Plan during such times as you are considered 

  
 9 

 
to have “inside information” regarding the Company (as defined by the laws in your country). Any restrictions under these laws or regulations are separate from and in addition to any
restrictions that may be imposed under any applicable Company insider trading policy. You acknowledge that it is your responsibility to comply with any applicable restrictions, and you are advised to speak to your personal advisor on this matter.

 21. APPENDIX. Notwithstanding any provisions in this Option Agreement, your option shall be subject
to the special terms and conditions for your country set forth in the Appendix attached to this Option Agreement as Exhibit A. Moreover, if you relocate to one of the countries included therein, the terms and conditions for such country will
apply to you to the extent the Company determines that the application of such terms and conditions is necessary or advisable for legal or administrative reasons. The Appendix constitutes part of this Option Agreement. 

22. IMPOSITION OF OTHER REQUIREMENTS. The Company reserves
the right to impose other requirements on your participation in the Plan, on any shares of Common Stock purchased under the Plan, to the extent the Company determines it is necessary or advisable for legal administrative reasons, and to require you
to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing. 
 23. GOVERNING
LAW / VENUE. This Agreement is governed by the laws of the State of Delaware without resort to that state’s conflicts of laws rules. For purposes of any action, lawsuit or other proceedings
brought to enforce this Agreement, relating to it, or arising from it, the parties hereby submit to and consent to the sole and exclusive jurisdiction of the courts within Santa Clara County, State of California, and no other courts, where this
grant is made and/or to be performed. 
 24. MISCELLANEOUS. 

(a) The rights and obligations of the Company under your option will be transferable to any one or more persons or entities, and all
covenants and agreements hereunder will inure to the benefit of, and be enforceable by the Company’s successors and assigns. 
 (b)
You agree upon request to execute any further documents or instruments necessary or desirable in the sole determination of the Company to carry out the purposes or intent of your option. 

(c) You acknowledge and agree that you have reviewed your option in its entirety, have had an opportunity to obtain the advice of
counsel prior to executing and accepting your option, and fully understand all provisions of your option. 
 (d) All obligations of
the Company under the Plan and this Agreement will be binding on any successor to the Company, whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise, of all or substantially all
of the business and/or assets of the Company. 

  
 10 

*        *        * 

This Agreement will be deemed to be signed by you upon the signing by you or otherwise by your acceptance of the Grant Notice to which it is
attached. 

  
 11 

 EXHIBIT A 

APPENDIX TO OPTION AGREEMENT 

SPECIAL TERMS AND CONDITIONS FOR EMPLOYEES
OUTSIDE THE UNITED STATES 
 Capitalized terms used but not defined in this Appendix have
the meanings set forth in the Plan and/or in the Option Agreement. 
 Terms and Conditions 

This Appendix includes additional terms and conditions that govern the option granted to you under the Plan if you reside and/or work in one of the countries
listed below. If you are a citizen or resident (or are considered as such for local law purposes) of a country other than the country in which you are currently residing and/or working, or if you relocate to another country after the grant of the
option, the Company shall, in its discretion, determine to what extent the special terms and conditions contained herein shall be applicable to you. 

Notifications 
 This Appendix may also include
information regarding exchange controls and certain other issues of which you should be aware with respect to participation in the Plan. The information is based on the securities, exchange control, and other laws in effect in the respective
countries as of August 2015. Such laws are often complex and change frequently. As a result, the Company strongly recommends that you not rely on the information in this Appendix as the only source of information relating to the consequences of your
participation in the Plan because the information may be out of date at the time you exercise the option or sell shares of Common Stock acquired under the Plan. 

In addition, the information contained herein is general in nature and may not apply to your particular situation, and the Company is not in a position to
assure you of a particular result. Accordingly, you are advised to seek appropriate professional advice as to how the relevant laws in your country may apply to your situation. 

Finally, if you are a citizen or resident (or are considered as such for local law purposes) of a country other than the country in which you are currently
residing and/or working, or if you relocate to another country after the grant of the option, the notifications contained herein may not be applicable to you in the same manner. 

 AUSTRALIA 

Terms and Conditions 
 Breach of Law.
Notwithstanding anything else in the Plan or the Option Agreement, you will not be entitled to, and shall not claim any benefit (including without limitation a legal right) under the Plan if the provision of such benefit would give rise to a breach
of Part 2D.2 of the Corporations Act 2001 (Cth), any other provision of that Act, or any other applicable statute, rule or regulation which limits or restricts the giving of such benefits. Further, the Employer is under no obligation to seek or
obtain the approval of its shareholders in a general meeting for the purpose of overcoming any such limitation or restriction. 
 Notifications

 Securities Law Information. If you acquire shares of Common Stock upon exercise of the option and subsequently offer the shares for sale to
a person or entity resident in Australia, such an offer may be subject to disclosure requirements under Australian law, and you should obtain legal advice regarding any applicable disclosure requirements prior to making any such offer. 

Exchange Control Information. Exchange control reporting is required for cash transactions exceeding A$10,000 and international fund transfers. You
understand that the Australian bank assisting with the transaction may file the report on your behalf. If there is no Australian bank involved in the transfer, you will be required to file the report. You should consult with your personal advisor to
ensure proper compliance with applicable reporting requirements in Australia. 
 AUSTRIA 

Notifications 
 Exchange Control Information.
If you hold shares of Common Stock acquired under the Plan outside Austria (even if held outside of Austria with an Austrian bank), you understand that you may need to submit an annual report to the Austrian National Bank using the form
“Standmeldung/Wertpapiere.” An exemption applies if the value of the shares of Common Stock held outside Austria as of December 31 does not exceed €3,000,000 or the value of the shares as of any quarter does not exceed
€30,000,000. If the former threshold is exceeded, annual reporting obligations are imposed, whereas if the latter threshold is exceeded, quarterly reports must be submitted. The deadline for filing the annual report is January 31 of the
following year and the deadline for the quarterly report is the 15th of the month following the end of the respective quarter. 
 When the shares of Common
Stock are sold or dividends are paid on such shares of Common Stock, there may be exchange control obligations if the cash received is held outside Austria, as a separate reporting requirement applies to any non-Austrian cash accounts. If the
transaction volume of all of your cash accounts abroad exceeds €3,000,000, the movements and the balance of all accounts must be reported monthly, as of the last day of the month, on or before the 15th day of the following month, using the form
“Meldungen SI-Forderungen und/oder SI-Verpflichtungen.” If the transaction value of all cash accounts abroad is less than €3,000,000, no ongoing reporting requirements apply. 

 BRAZIL 

Terms and Conditions 
 Compliance with Law.
By accepting the option and accepting the terms of the Agreement, you acknowledge and agree to comply with all applicable Brazilian laws and pay any and all applicable Tax-Related Items associated with the option, the sale of shares of Common Stock
acquired under the Plan, and the receipt of any dividends paid on such shares of Common Stock. 
 Notifications 

Exchange Control Information. If you are a Brazilian resident, you must submit an annual declaration of assets and rights held outside of Brazil to the
Central Bank of Brazil if the aggregate value of such assets and rights is US$100,000 or more. If the aggregate value of such assets and rights is US$100,000,000 or more, the declaration is required quarterly. Assets and rights that must be reported
include shares of Common Stock acquired under the Plan. 
 Tax on Financial Transaction (IOF). Payments to foreign countries (including the payment
of the exercise price) and repatriation of funds into Brazil and the conversion between BRL and USD associated with such fund transfers may be subject to the Tax on Financial Transactions. It is your responsibility to comply with any applicable Tax
on Financial Transactions arising from your participation in the Plan. You should consult with your personal tax advisor for additional details. 

CANADA 

Terms and Conditions 
 Method of Payment.
Notwithstanding Section 4 of the Option Agreement and the Grant Notice, you are prohibited from paying the exercise price using the methods set forth in Section 4(b) or (c) of the Option Agreement. 

Termination of Continuous Service. This provision replaces the last paragraph of Section 7 of the Option Agreement: 

For purposes of your option, your Continuous Service will be considered terminated (regardless of the reason of termination, whether or not later found to be
invalid or in breach of employment or other laws or rules in the jurisdiction where you are providing service or the terms of your employment or service agreement, if any) effective as of the date that is the earlier of (1) the date of
termination of your Continuous Service; (2) the date on which you receive written notice of such termination; or (3) the date you no longer actively provide services to the Company or any Affiliate, regardless of any notice period or
period of pay in lieu of such notice mandated under applicable laws (including, but not limited to, statutory law and/or common law); the Board 

 
shall have the exclusive jurisdiction to determine when you are no longer actively employed or providing services for purposes of the Plan (including whether you still may be considered to be
employed or providing services while on a leave of absence). 
 The following provisions apply only if you reside in Quebec: 

Language Consent. The parties acknowledge that it is their express wish that the Agreement as well as all documents, notices and legal proceedings
entered into, given or instituted pursuant hereto or relating directly or indirectly hereto, be drawn up in English. 
 Les parties reconnaissent avoir
exigé la rédaction en anglais de cette convention («Agreement»), ainsi que cette Annexe, ainsi que de tous documents, avis et procédures judiciaires, exécutés, donnés ou intentés en vertu
de, ou liés directement ou indirectement à, la présente convention. 
 Data Privacy Consent. This provision supplements
Section 14 of the Option Agreement: 
 You authorize the Company and the Company’s representatives to discuss with and obtain all relevant
information from all personnel, professional or non-professional, involved with the administration of the Plan. You further authorize the Company and any Affiliate, Morgan Stanley Smith Barney LLC and any other stock plan service provider or any
designated third party that may be selected by the Company in the future to assist with the Plan to disclose and discuss the Plan with their advisors. You also authorize the Company and any Affiliate to record such information and to keep such
information in your employee file. 
 Notifications 

Securities Law Information. You understand that you are permitted to sell shares of Common Stock acquired pursuant to the Plan through the designated
broker appointed under the Plan, if any, provided the sale of the shares acquired pursuant to the Plan takes place outside of Canada through the facilities of a stock exchange on which the shares are listed. 

Foreign Asset/Account Reporting Information. If you are a Canadian resident, you may be required to report your foreign property on form T1135 (Foreign
Income Verification Statement) if the total cost of the foreign property exceeds C$100,000 at any time in the year. Foreign property includes shares of Common Stock acquired under the Plan and may include the option. The option must be
reported—generally at a nil cost—if the $100,000 cost threshold is exceeded because of other foreign property you hold. If shares of Common Stock are acquired, their cost generally is the adjusted cost base (“ACB”)
of the shares of Common Stock. The ACB ordinarily would equal the fair market value of the shares at the time of acquisition, but if you own other shares of Common Stock, this ACB may have to be leveraged with the ACB of the other shares. The form
T1135 generally must be filed by April 30 of the following year. You should consult with a personal advisor to ensure compliance with the applicable reporting requirements. 

 FRANCE 

Terms and Conditions 
 Language Acknowledgement.
You confirm having read and understood the documents relating to the Plan, including the Agreement, with all terms and conditions included therein, which were provided in the English language. You accept the terms of those documents accordingly.

 Consentement Relatif à la Langue Utilisée. Vous confirmez avoir lu et compris le Plan et cette convention
(«Agreement») et les Terms et Conditions, incluant tous leurs terms et conditions, qui ont été transmis en langue anglaise. Vouz acceptez les dispositions de ces documents en connaissance de cause. 

Notifications 
 Option Type. The option is
not intended to qualify for special tax or social security treatment in France. 
 Foreign Asset/Account Reporting Information. If you are a French
resident and maintain a foreign bank account, you must report such account to the French tax authorities when filing your annual tax return. Failure to comply with this requirement could trigger significant penalties and you should consult with your
personal advisor to ensure proper compliance with applicable reporting requirements in France. 

GERMANY 

Notifications 
 Exchange Control
Information. Cross-border payments in excess of €12,500 must be reported monthly to the German Federal Bank (Bundesbank). In case of payments in connection with securities (including proceeds realized upon the sale of shares of
Common Stock or the receipt of dividends), the report must be made by the 5th day of the month following the month in which the payment was received. The report must be filed electronically and the form of report (“Allgemeine Meldeportal
Statistik”) can be accessed via the Bundesbank’s website (www.bundesbank.de), in both German and English. You are responsible for making this report. 

HONG KONG 

Terms and Conditions 
 Sale Restriction.
Shares of Common Stock received at exercise are accepted as a personal investment. Notwithstanding anything contrary in the Agreement or the Plan, in the event the option vests and you exercise the option such that shares are issued to you
within six months of the Date of Grant, you agree that you will not offer to the public or otherwise dispose of any shares acquired prior to the six-month anniversary of the Date of Grant. 

 Notifications 

Securities Law Information. WARNING: You understand that the contents of the Agreement, the Plan and other incidental communication materials
have not been reviewed by any regulatory authority in Hong Kong. You should exercise caution in relation to the option. If you are in any doubt about any of the contents of the Plan, you should obtain independent professional advice. You understand
that neither the option nor the issuance of shares of Common Stock upon exercise of the option constitutes a public offer of securities under Hong Kong law and is available only to Employees, Consultants or Directors of the Company and its
Affiliates. You understand that the Agreement, the Plan and other incidental communication materials that you may receive (i) are not intended to constitute a “prospectus” for a public offering of securities under applicable
securities legislation in Hong Kong and (ii) are intended only for the personal use of each Employee, Consultant or Director of the Company and its Affiliates, and may not be distributed to any other person. 

IRELAND 

Notifications 
 Director Notification
Obligation. Directors, shadow directors or secretaries of an Irish Affiliate whose interest in the Company represents more than 1% of the Company’s voting share capital must notify the Irish Affiliate in writing within five business days of
receiving or disposing of an interest in the Company (e.g., option granted under the Plan, shares of Common Stock, etc.), or within five business days of becoming aware of the event giving rise to the notification requirement or within five
business days of becoming a director or secretary if such an interest exists at the time. This notification requirement also applies with respect to the interests of the spouse or children under the age of 18 of the director, shadow director or
secretary (whose interests will be attributed to the director, shadow director or secretary). 

ITALY 

Terms and Conditions 
 Exercise of Option.
The following provision supplements Section 8 of the Option Agreement. 
 Unless otherwise determined by the Board, to exercise the option, you must
pay the exercise price by using the method set forth in Section 4(a) of the Option Agreement. Under this exercise method, you must use a licensed securities broker acceptable to the Company, such that all shares of Common Stock subject to the
exercised option will be sold immediately upon exercise and the proceeds of sale, less the exercise price, any Tax-Related Items and broker’s fees and commissions, will be remitted to you. The Company reserves the right to make additional forms
of exercise available to you. 
 Data Privacy Notice. The following provisions replace Section 13 of the Option Agreement: 

You understand that that the Company and the Employer may hold certain personal information about you, including your name, home address and telephone
number, date of 

 
birth, social insurance number or other identification number, salary, nationality, job title, any shares of Common Stock or directorships you hold in the Company, details of the Plan or any
other entitlement to shares of Common Stock awarded, canceled, exercised, vested, unvested or outstanding in your favor (“Data”), for the exclusive purpose of managing and administering the Plan. 

You also understand that providing the Company with the Data is necessary for the performance of the Plan and that your refusal to provide such Data
would make it impossible for the Company to perform its contractual obligations and may affect your ability to participate in the Plan. The Controller of personal data processing is Pure Storage, Inc., with registered offices at 650 Castro Street,
Suite #400, Mountain View, California, United States of America, and, pursuant to Legislative Decree no. 196/2003, its representative in Italy is Pure Storage Italy, SRL with registered address at Via Alfredo Tornaghi 59, Cassano D’Adda, CAP
20062, Milan, Italy. 
 You understand that your Data will not be publicized, but it may be transferred to banks, other financial institutions
or brokers involved in the management and administration of the Plan. You further understand that the Company and any Affiliate will transfer Data amongst themselves as necessary for the purpose of implementation, administration and management of
your participation in the Plan, and that the Company and any Affiliate may each further transfer Data to third parties assisting the Company in the implementation, administration and management of the Plan, including any requisite transfer to a
broker or another third party with whom you may elect to deposit any shares of Common Stock acquired under the Plan. Such recipients may receive, possess, use, retain and transfer the Data in electronic or other form, for the purposes of
implementing, administering and managing your participation in the Plan. You understand that these recipients may be located in the European Economic Area, or elsewhere, such as the U.S. Should the Company exercise its discretion in suspending all
necessary legal obligations connected with the management and administration of the Plan, it will delete your Data as soon as it has accomplished all the necessary legal obligations connected with the management and administration of the Plan.

 You understand that Data processing related to the purposes specified above shall take place under automated or non-automated conditions,
anonymously when possible, that comply with the purposes for which Data is collected and with confidentiality and security provisions as set forth by applicable laws and regulations, with specific reference to Legislative Decree no. 196/2003.

 The processing activity, including communication, the transfer of your Data abroad, including outside of the European Economic Area, as
herein specified and pursuant to applicable laws and regulations, does not require your consent thereto as the processing is necessary to performance of contractual obligations related to implementation, administration and management of the Plan.
You understand that, pursuant to Section 7 of the Legislative Decree no. 196/2003, you have the right to, including but not limited to, access, delete, update, ask for rectification of your Data and cease, for legitimate reason, the Data
processing. Furthermore, you are aware that your Data will not be used for direct marketing purposes. In addition, the Data provided may be reviewed and questions or complaints can be addressed by contacting your human resources department.

 Plan Acknowledgement. You acknowledge having specifically and expressly approved and agreed to the
following sections of the Option Agreement: Section 6 (Compliance), Section 7 (Term), Section 10 (Responsibility for Taxes), Section 11 (Nature of Grant), Section 12 (No Advice Regarding Grant), Section 19 (Language),
Section 21 (Appendix), Section 22 (Imposition of Other Requirements), Section 23 (Governing Law/Venue), and the Data Privacy Notice set forth above. 

Notifications 
 Foreign Asset/Account Reporting
Information. Italian residents who, at any time during the fiscal year, hold foreign financial assets (such as cash, shares of Common Stock or options) which may generate income taxable in Italy are required to report such assets on their annual
tax returns or on a special form if no tax return is due. The same reporting duties apply to Italian residents who are beneficial owners of the foreign financial assets pursuant to Italian money laundering provisions, even if they do not directly
hold the foreign asset abroad. You are advised to consult a personal legal advisor to ensure compliance with applicable reporting requirements. 

Foreign Asset Tax Information. The value of the financial assets held outside of Italy by Italian residents is subject to a foreign asset tax. Such tax
is currently levied at an annual rate of 2 per thousand (0.2%). The taxable amount will be the fair market value of the financial assets (e.g., shares of Common Stock acquired under the Plan) assessed at the end of the calendar year.

 JAPAN 

Exchange Control Information. If you acquire shares of Common Stock valued at more than ¥100,000,000 in a single transaction, you must file a
Securities Acquisition Report with the Ministry of Finance through the Bank of Japan within 20 days of the acquisition of the shares of Common Stock. 
 In
addition, if you pay more than ¥30,000,000 in a single transaction for the acquisition of shares of Common Stock when you exercise your option, you must file a Payment Report with the Ministry of Finance through the Bank of Japan within 20 days
of the date that the payment is made. The precise reporting requirements vary depending on whether or not the relevant payment is made through a bank in Japan. 

Please note that a Payment Report is required independently from a Securities Acquisition Report; therefore, you must file both a Payment Report and a
Securities Acquisition Report if the total amount that you pay in a single transaction for exercising the option and purchasing shares of Common Stock exceeds ¥100,000,000. 

Foreign Asset/Account Reporting Information. Japanese residents are required to report details of any assets held outside of Japan as of
December 31, including shares of Common Stock acquired under the Plan, to the extent such assets have a total net fair market value exceeding ¥50,000,000. Such report will be due by March 15 each year. You are responsible for complying
with this reporting obligation if applicable to you and you should consult your personal tax advisor in this regard. 

 MALAYSIA 

Terms and Conditions 
 Data Privacy. The
following provisions replace in its entirety Section 13 of the Option Agreement: 
 As a condition of the grant of the option, you hereby explicitly
and unambiguously consent to the collection, use, processing and transfer, in electronic or other form, of personal data as described in this paragraph by and among, as applicable, the Employer, the Company and any other Affiliate for the exclusive
purpose of implementing, administering and managing your participation in the Plan. 
 You understand that the Company and the Employer may hold
certain personal information about you, including your name, home address and telephone number, date of birth, social security number or other identification number (e.g., resident registration number), salary, nationality, job title, any shares of
Common Stock or directorships held in the Company, details of all options or any other entitlement to shares of Common Stock awarded, canceled, exercised, vested, unvested or outstanding in your favor (“Data”), for the purpose of managing
and administering the Plan. 
 You acknowledge that Data will be transferred to Morgan Stanley Smith Barney LLC, or such other stock plan service
provider as may be selected by the Company in the future, which is assisting the Company with the implementation, administration and management of the Plan. You accept that these recipients may be located in the United States or the European
Economic Area and that the recipient’s country may have different data privacy laws and protections than your country. You authorize the Company, Morgan Stanley Smith Barney LLC and any other possible recipients which may assist the Company
(presently or in the future) with implementing, administering and managing the Plan to receive, possess, use, retain and transfer the Data, in electronic or other form, for the purposes of implementing, administering and managing your participation
in the Plan, including any requisite transfer of Data to Morgan Stanley Smith Barney LLC or any other third party with whom you may elect to deposit any shares of Common Stock acquired upon exercise of the option, as such Data may be required for
the administration of the Plan and/or the subsequent holding of shares of Common Stock on your behalf. You understand Data will be held only as long as necessary to implement, administer and manage your participation in the Plan. You understand that
you may, 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, without cost to you, by contacting in writing your local
human resources representative. Further, you understand that you are providing the consents herein on a purely voluntary basis. If you do not consent, or later seek to revoke consent, your employment status or service and career with the Company or
the Employer will not be adversely affected; the only consequence of refusing or withdrawing consent is that the Company would not be able to grant options or other equity awards to you or administer or maintain such awards. Therefore, you
understand that refusing or withdrawing consent may affect your ability to participate in the Plan. For more information on the consequences of refusal to consent or withdrawal of consent, you understand that you may contact your local human
resources representative. 

 Malaysian Translation: 

Sebagai syarat pemberian Opsyen, Penerima Opsyen dengan ini secara eksplisit dan tanpa sebarang keraguan mengizinkan pengumpulan, penggunaan dan pemindahan,
dalam bentuk elektronik atau lain-lain, data peribadi Peserta seperti yang diterangkan dalam perenggan ini oleh dan di antara, seperti mana yang terpakai, Majikan dan Syarikat dan mana-mana Syarikat Induk, Anak- Syarikat atau Syarikat Sekutu untuk
tujuan ekslusif bagi melaksanakan, mentadbir dan menguruskan penyertaan Penerima Opsyen dalam Pelan. 
 Penerima Opsyen memahami bahawa Majikan dan
Syarikat Induk, Anak-Syarikat atau Syarikat Sekutu memegang maklumat peribadi tertentu tentang Penerima Opsyen, termasuk, nama Penerima Opsyen, alamat rumah dan nombor telefon, tarikh lahir, nombor insurans sosial atau nombor pengenalan lain
(contohnya nombor pendaftaran penduduk), gaji, kewarganegaraan, jawatan, apa-apa Syer atau jawatan pengarah yang dipegang di Syarikat, butir-butir semua Opsyen atau apa-apa hak dalam Syer yang dianugerahkan, dibatalkan, dilaksanakan, terletak hak,
tidak diletak hak ataupun yang belum dijelaskan bagi faedah Penerima Opsyen (“Data”), untuk tujuan eksklusif bagi melaksanakan dan mentadbir Pelan.

Penerima Opsyen mengakui bahawa Data akan dipindahkan kepada Morgan Stanley Smith Barney LLC, atau pembekal perkhidmatan pelan saham atau broker yang
mungkin ditetapkan oleh Syarikat pada masa depan, yang membantu Syarikat dengan pelaksanaan, pentadbiran dan pengurusan Pelan. Penerima Opsyen menerima bahawa penerima-penerima mungkin berada di Amerika Syarikat atau Kawasan Ekonomi Eropah dan
bahawa negara penerima-penerima mungkin mempunyai undang-undang privasi data dan perlindungan yang berbeza daripada negara Penerima Opsyen. Penerima Opsyen memberi kuasa kepada Syarikat. brokernya, mana-mana penerima-penerima yang mungkin
membantu Syarikat (pada masa sekarang atau pada masa depan) dengan melaksanakan, mentadbir dan menguruskan Pelan untuk menerima, memiliki, menggunakan, mengekalkan dan memindahkan Data, dalam bentuk elektronik atau lain-lain, dengan tujuan untuk
melaksanakan, mentadbir dan menguruskan penyertaan Penerima Opsyen dalam Pelan, termasuk pemindahan Data kepada broker yang ditetapkan atau pihak ketiga lain dengan siapa Penerima Opsyen memilih untuk mendepositkan apa-apa Syer yang dimiliki apabila
Opsyen terletak hak, kerana Data mungkin diperlukan untuk pentadbiran Pelan dan / atau pegangan Saham seterusnya bagi pihak Penerima Opsyen. Penerima Opsyen memahami bahawa Data hanya akan disimpan untuk tempoh yang perlu bagi melaksanakan,
mentadbir, dan menguruskan penyertaan Penerima Opsyen dalam Pelan. Penerima Opsyen memahami bahawa Penerima Opsyen boleh, pada bila-bila masa, melihat Data, meminta maklumat tambahan mengenai penyimpanan dan pemprosesan Data, meminta bahawa
pindaan-pindaan yang perlu dilaksanakan ke atas Data atau menolak atau menarik balik persetujuan dalam ini, dalam mana-mana kes, tanpa kos kepada Penerima Opsyen, dengan menghubungi secara bertulis wakil sumber manusia tempatan Penerima Opsyen
Pengarah. Selanjutnya, Penerima Opsyen memahami bahawa Penerima Opsyen memberi persetujuan ini secara sukarela. Sekiranya Penerima Opsyen tidak bersetuju, atau kemudian membatalkan persetujuannya, status pekerjaan atau perkhidmatan dan
kerjaya dengan Majikan tidak akan terjejas; satunya akibat jika tidak bersetuju atau menarik balik persetujuan adalah bahawa 

 
Syarikat tidak akan dapat menganugerahkan kepada Penerima Opsyen Opsyen-opsyens atau anugerah ekuiti lain atau mentadbir atau mengekalkan anugerah tersebut. Oleh itu, Penerima Opsyen
memahami bahawa keengganan atau penarikan balik persetujuan Penerima Opsyen boleh menjejaskan keupayaannya untuk mengambil bahagian dalam Pelan. Untuk maklumat lanjut mengenai akibat keengganan untuk memberikan keizinan atau penarikan balik
keizinan, Penerima Opsyen memahami bahawa Penerima Opsyen boleh menghubungi wakil sumber manusia tempatan Penerima Opsyen. 
 Notifications

 Director Notification Obligation. If you are a director of a Malaysian Affiliate, you are subject to certain notification requirements
under the Malaysian Companies Act. Among these requirements is an obligation to notify the Malaysian Affiliate in writing when you receive or dispose of an interest (e.g., options or shares of Common Stock) in the Company or any related
company. Such notifications must be made within fourteen days of receiving or disposing of any interest in the Company or any Affiliate. 

MEXICO 

Terms and Conditions 
 Acknowledgement of the
Agreement. In accepting the option, you acknowledge that you have received a copy of the Plan, have reviewed the Plan and the Agreement in their entirety and fully understand and accept all provisions of the Plan and the Agreement. You further
acknowledge that you have read and specifically and expressly approve the terms and conditions of Section 11 of the Option Agreement, in which the following is clearly described and established: 

 

	 	a)	That your participation in the Plan does not constitute an acquired right. 

  

	 	b)	That the Plan and your participation in the Plan is offered by the Company on a wholly discretionary basis. 

  

	 	c)	That your participation in the Plan is voluntary. 

  

	 	d)	That the Company and its Affiliates are not responsible for any decrease in the value of the shares of Common Stock granted under the Plan. 

Labor Law Policy and Acknowledgement. By participating in the Plan, you expressly recognize that the Company, Pure Storage, Inc., with registered
offices at 650 Castro Street, Suite #400, Mountain View, California, United States of America, is solely responsible for the administration of the Plan and that your participation in the Plan and acquisition of shares of Common Stock do not
constitute an employment relationship between you and the Company since you are participating in the Plan on a wholly commercial basis. Based on the foregoing, you expressly recognize that the Plan and any benefits you may derive from participation
in the Plan do not establish any rights between you and the Employer or any other Affiliate, and do not form part of the employment conditions and/or benefits provided by the Employer, and any modification of the Plan or its termination will not
constitute a change or impairment of the terms and conditions of your employment. 

 You further understand that participation in the Plan is as a result of a unilateral and discretionary decision
of the Company, therefore, the Company reserves the absolute right to amend and/or discontinue your participation at any time without any liability to you. 

Finally, you hereby declare that you do not reserve any action or right to bring any claim against the Company for any compensation or damages regarding any
provision of the Plan or the benefits derived under the Plan, and you therefore grant a full and broad release to the Company, its Affiliates, its shareholders, officers, agents or legal representatives with respect to any claim that may arise. 

Spanish Translations: 

Reconocimiento de la Política. Derivado de mi aceptación de la opción, reconozco que he recibido una copia del Plan, he revisado el
mismo y el Convenio en su totalidad y comprendo y estoy de acuerdo con los todas las disposiciones tanto del Plan como del Convenio. Asimismo, reconozco que he leído y específica y expresamente manifiesto mi conformidad con los
términos y condiciones establecidos en el Capitulo 11 de dicho Convenio, en el cual se establece claramente que: 
  

	 	a)	Mi participación en el Plan de ninguna manera constituye un derecho adquirido. 

  

	 	b)	Que el Plan y mi participación en el mismo es una oferta por parte de la Compañía de forma completamente discrecional. 

 

	 	c)	Que mi participación en el Plan es voluntaria. 

  

	 	d)	Que la Compañía y sus Afiliados no son responsables de cualquier pérdida en el valor de participaciones en Acciones Ordinarias otorgadas mediante el Plan. 

Política de Legislación Laboral y Acuse de Recibo. Al participar en el Plan, Ud. expresamente reconoce que la Compañía,
Pure Storage, Inc., con oficinas registradas en 650 Castro Street, Suite #400, Mountain View, California, Estados Unidos de América, únicamente es responsable de la administración del Plan y que la participación suyo en
el Plan y la adquisición de participaciones en Acciones Ordinarias no constituye una relación de trabajo entre Ud. y la Compañía, por causa que Ud. está participando en el Plan en una base enteramente comercial.
Con base en lo anterior, Ud. expresamente reconoce que el Plan y cualquier prestación que pueda recibir de la participación en el Plan no establece derecho alguno entre Ud. y el Patrón, o cualquier otro Afiliado, y no forma
parte de las condiciones de trabajo y/o prestaciones provistas por el Patrón, y que cualquier modificación al Plan o la terminación del mismo no constituirán un cambio o deterioro de las condiciones de su trabajo. 

A su vez, Ud. comprende que la participación en el Plan se da como resultado de una decisión unilateral y discrecional de la
Compañía; por lo que la Compañía se reserva el derecho absoluto de modificar y/o discontinuar su participación en cualquier momento y sin ninguna responsabilidad hacia Ud. 

Finalmente, Ud. en este acto declara que no se reserva ninguna acción o derecho para intentar reclamación alguna en contra de la
Compañía por cualquier compensación o daños relacionada 

 
con cualquier provisión del Plan o de los beneficios derivados del mismo, por lo que Ud. otorga el más amplio y completo finiquito a la Compañía, sus Afiliados, sus
accionistas, directivos, agentes o representantes legales en relación a cualquier reclamación que pueda presentarse. 

NETHERLANDS 

Notifications 
  

 
 

 
 NEW ZEALAND 

Terms and Conditions 
 Securities Law
Information. 
 Warning 
 This is an offer of an
option to acquire shares of Common Stock. An option gives you a stake in the ownership of Pure Storage, Inc. You may receive a return if dividends are paid. 

If Pure Storage, Inc. runs into financial difficulties and is wound up, you will be paid only after all creditors and holders of preference shares have been
paid. You may lose some or all of your investment. 
 New Zealand law normally requires people who offer financial products to give information to investors
before they invest. This information is designed to help investors to make an informed decision. The usual rules do not apply to this offer because it is made under an employee share scheme. As a result, you may not be given all the information
usually required. You will also have fewer other legal protections for this investment. 
 Ask questions, read all documents carefully, and seek independent
financial advice before committing yourself. 
 SINGAPORE 

Terms and Conditions 
 Securities Law
Information. You acknowledge and agree that the offer is being made pursuant to the “Qualifying Person” exemption under section 273(1)(f) of the Singapore Securities and Futures Act (Chapter 289, 2006 Ed.) (“SFA” ) and is not
made to you with a view to the option or the underlying shares of Common Stock being subsequently offered for sale to any other party. The Plan has not been lodged or registered as a prospectus with the Monetary Authority of Singapore. You should
note that the option grant is subject to section 257 of the SFA and the 

 
you should not make any subsequent sale in Singapore, nor any offer of such subsequent sale of the shares of Common Stock acquired under the Plan unless such sale or offer is made (i) more
than six months after the Date of Grant or (ii) pursuant to the exemptions under Part XIII Division (1) Subdivision (4) (other than section 280) of the SFA. 

Notifications 
 Chief Executive Officer/Director
Notification Obligation. You acknowledge and agree that if you are the Chief Executive Officer (“CEO”) or a director, associate director or shadow director of a Singapore Affiliate, you are subject to certain notification
requirements under the Singapore Companies Act. Among these requirements is an obligation to notify the Singapore Affiliate in writing when you receive an interest (e.g., shares of Common Stock) in the Company or any Affiliate. In addition,
you must notify the Singapore Affiliate when you sell shares of Common Stock or shares of any Affiliate (including when you sell shares of Common Stock acquired at exercise). These notifications must be made within two business days of acquiring or
disposing of any interest in the Company or any Affiliate. In addition, a notification of your interest in the Company or any Affiliate must be made within two business days of becoming the CEO or a director. 

SOUTH AFRICA 

Terms and Conditions 
 Exercise of Option.
The following provision supplements Section 8 of the Option Agreement. 
 (a) You may exercise the option as provided in the Option
Agreement, the Grant Notice, and the Plan. You are required to immediately notify the Employer of the amount of any gain realized at exercise of the option. If you fail to advise the Employer of such gain, you may be liable for a fine. 

(b) If you exercise the option by a cash exercise, you must obtain and provide to the Employer, a Tax Clearance Certificate (with respect to
foreign investments) bearing the official stamp and signature of the Exchange Control Department of the South African Revenue Service (“SARS”). You must renew this Tax Clearance Certificate every twelve months, or in such
other period as may be required by the SARS. 
 Notifications 

Exchange Control Information. Under current South African exchange control policy, you understand that if you are a South African resident, you may
invest a maximum of ZAR11,000,000 per annum in offshore investments, including in shares of Common Stock. This limit does not apply to non-resident employees. The first ZAR1,000,000 annual discretionary allowance requires no prior authorization but
you understand that you must obtain tax clearance for the next ZAR10,000,000. It is your responsibility to ensure that you do not exceed this limit and obtain the necessary tax clearance for remittances exceeding ZAR1,000,000. This limit is a
cumulative allowance; therefore, your ability to remit funds for a cash exercise will be reduced if your foreign investment limit is utilized to make a transfer of funds offshore that is unrelated to the Plan. You acknowledge that if the
ZAR11,000,000 limit will be exceeded as a result of a 

 
cash exercise under the Plan, you may still participate in the Plan; however, you will be required to immediately sell the shares of Common Stock acquired under the Plan and repatriate the
proceeds to South Africa in order to ensure that you do not hold assets outside South Africa with a value in excess of the permitted offshore investment allowance amount. 

SOUTH KOREA 

Notifications 
 Exchange Control
Information. If you remit funds out of South Korea to pay the exercise price, you agree to comply with any exchange control requirements, including any necessary confirmation of the remittance of funds with a foreign exchange bank in South
Korea. The foreign exchange bank may require that you submit the following supporting documents evidencing the nature of the remittance to the bank together with the confirmation application: (i) the Agreement; (ii) the Grant Notice;
(iii) the Plan; and (iv) your certificate of employment. 
 Further, Korean residents who realize US$500,000 or more from the sale of shares of
Common Stock or the receipt of any dividends in a single transaction must repatriate the proceeds to Korea within 18 months of the sale or receipt. 

Foreign Asset/Account Reporting Information. Korean residents must declare all foreign financial accounts (i.e., non-Korean bank accounts,
brokerage accounts, etc.) to the Korean tax authority and file a report with respect to such accounts if the value of such accounts exceeds KRW 1 billion (or an equivalent amount in foreign currency) on any month-end during a calendar year. You
should consult with your personal tax advisor to determine your personal reporting obligations. 

SPAIN 

Terms and Conditions 
 Vesting and Nature of
Grant. The following provisions supplement Section 11 of the Option Agreement: 
 In accepting the option, you consent to participate in the Plan
and acknowledge that you have received a copy of the Plan. 
 You understand and agree that unless otherwise provided in the Agreement, you will forfeit any
unvested portion of the option as of the date your Continuous Service ends without entitlement to the underlying shares of Common Stock or to any amount of indemnification in the event of your termination by reason of, but not limited to,
resignation, retirement, disciplinary dismissal adjudged to be with Cause, disciplinary dismissal adjudged or recognized to be without cause, individual or collective dismissal adjudged or recognized to be without Cause, individual or collective
dismissal on objective grounds, whether adjudged or recognized to be with or without Cause, material modification of the terms of employment under Article 41 of the Workers’ Statute, relocation under Article 40 of the Workers’ Statute,
Article 50 of the Workers’ Statute, unilateral withdrawal by the Employer and under Article 10.3 of the Royal Decree 1382/1985. 

 You understand that the Company has unilaterally, gratuitously and discretionally decided to grant options under
the Plan to individuals who may be Employees, Consultants or Directors of the Company or an Affiliate throughout the world. The decision is a limited decision that is entered into upon the express assumption and condition that any grant will not
economically or otherwise bind the Company or any Affiliate on an ongoing basis, other than as set forth in the Agreement. Consequently, you understand that the option is granted on the assumption and condition that the option and any shares of
Common Stock acquired upon exercise of the option are not part of any employment or service contract (either with the Company or any Affiliate) and shall not be considered a mandatory benefit, salary for any purposes (including severance
compensation) or any other right whatsoever. Further, you understand that the option would not be granted to you but for the assumptions and conditions referred to herein; thus, you acknowledge and freely accept that should any or all of the
assumptions be mistaken or should any of the conditions not be met for any reason, then the grant of the option shall be null and void. 

Notifications 
 Securities Law Information.
You understand that the option and shares of Common Stock described in the Agreement do not qualify under Spanish regulations as securities. No “offer of securities to the public,” as defined under Spanish law, has
taken place or will take place in the Spanish territory. This Agreement has not been nor will be registered with the Comisión Nacional del Mercado de Valores, and does not constitute a public offering prospectus. 

Exchange Control Information. You must declare the acquisition, ownership and disposition of stock in a foreign company (including shares of Common
Stock acquired under the Plan) to the Spanish Dirección General de Comercio e Inversiones (the “DGCI”), the Bureau for Commerce and Investments, which is a department of the Ministry of Economy and
Competitiveness, for statistical purposes. You must also declare ownership of any shares of Common Stock by filing a Form D-6 with the Directorate of Foreign Transactions each January while the shares of Common Stock are owned. In addition, the sale
of shares of Common Stock must also be declared on Form D-6 filed with the DGCI in January, unless the sale proceeds exceed the applicable threshold (currently €1,502,530), or you hold 10% or more of the share capital of the Company or other
such amount that would entitle you to join the Board, in which case the filing is due within one month after the sale. 
 Foreign Asset/Account Reporting
Information. You are required to electronically declare to the Bank of Spain any security accounts (including brokerage accounts held abroad), as well as the securities (including shares of Common Stock acquired under the Plan) held in such
accounts, and any transactions carried out with non-residents, if the value of the transactions for all such accounts during the prior year or the balances in such accounts as of December 31 of the prior year exceeds €1,000,000. More
frequent reporting is required if such transaction value or account balance exceeds €100,000,000. If neither the total balances nor the total transactions with non-residents during the relevant period exceeds €50,000,000, a summarized form
of declaration may be used. 
 In addition, to the extent you hold shares and/or have bank accounts outside of Spain with a value in excess of €50,000
(for each type of asset) as of December 31, you will be required to 

 
report information on such assets on your tax return for such year. After such shares and/or accounts are initially reported, the reporting obligation will apply for subsequent years only if the
value of any previously reported shares or accounts increases by more than €20,000 as of each subsequent December 31. 

SWEDEN 

There are no country-specific terms. 

SWITZERLAND 

Notifications 
 Securities Law Information.
You acknowledge that the Plan is not intended to be publicly offered in or from Switzerland. Neither the Agreement nor any other materials relating to the option constitutes a prospectus as such term is understood pursuant to article 652a of the
Swiss Code of Obligations, and neither the Agreement nor any other materials relating to the option may be publicly distributed nor otherwise made publicly available in Switzerland. 

TAIWAN 

Terms and Conditions 
 Data Privacy. The
following provision supplements Section 13 of the Option Agreement: 
 You hereby acknowledge having read and understood the terms regarding the
collection, processing and transfer of Data contained in Section 13 of the Option Agreement and, by participating in the Plan, you agree to such terms. In this regard, upon request of the Company or the Employer, you agree to provide any
executed data privacy consent form (or any other agreements or consents that may be required by the Employer or the Company) that the Company and/or the Employer may deem necessary under applicable data privacy laws, either now or in the future. You
understand that you will not be able to participate in the Plan if you fail to execute any such consent or agreement. 
 Notifications 

Securities Law Information. The option and the shares of Common Stock underlying the option are available only for Employees, Consultants or Directors
of the Company and its Affiliates. It is not a public offer of securities by a Taiwanese company. 
 Exchange Control Information. Taiwanese
residents may acquire and remit foreign currency (including proceeds from the sale of shares of Common Stock) into and out of Taiwan up to US$5,000,000 per year. You understand that if you are a Taiwanese resident, and the transaction amount is
TWD$500,000 or more in a single transaction, you may need to submit a foreign exchange transaction form and provide supporting documentation to the satisfaction of the remitting bank. 

 THAILAND 

Notifications 
 Exchange Control
Information. If you remit funds out of Thailand to exercise your option, it is your responsibility to comply with applicable exchange control laws. Under current exchange control regulations, you may remit funds out of Thailand up to
US$1,000,000 per year to purchase shares (and otherwise invest in securities abroad) by submitting an application to an authorized agent, (i.e., a commercial bank authorized by the Bank of Thailand to engage in the purchase, exchange and
withdrawal of foreign currency). The application includes the Foreign Exchange Transaction Form, a letter describing the option, a copy of the Plan and related documents, and evidence showing the nexus between the Company and the Employer. If you
use a method of exercise that does not involve remitting funds out of Thailand, this requirement does not apply. 
 Further, you acknowledge that you are
required to immediately repatriate the proceeds from the sale of shares of Common Stock or from any dividends paid on such shares of Common Stock to Thailand if the funds received in a single transaction are US$50,000 or more. You also will be
required to either convert such repatriated proceeds to Thai Baht or deposit the proceeds into a foreign currency deposit account within 360 days of repatriation. You must specifically report the inward remittance to the Bank of Thailand on a
foreign exchange transaction form. If you fail to comply with these obligations, you may be subject to penalties assessed by the Bank of Thailand. You acknowledge that you should consult your personal legal advisor prior to taking any action with
respect to remittance of proceeds related to the Plan into Thailand. You are responsible for ensuring compliance with all exchange control laws in Thailand. 

UNITED ARAB EMIRATES 

Notifications 
 Securities Law Information.
Participation in the Plan is being offered only to Employees, Consultants and Directors of the Company and its Affiliates, and is in the nature of providing equity incentives to those providing services in the United Arab Emirates. The Plan and the
Agreement are intended for distribution only to such participants and must not be delivered to, or relied on by, any other person. You should conduct your own due diligence on the securities. If you do not understand the contents of the Plan or the
Agreement, you understand that you should consult an authorized financial adviser. The Emirates Securities and Commodities Authority has no responsibility for reviewing or verifying any documents in connection with the Plan, and neither the Ministry
of Economy nor the Dubai Department of Economic Development have approved the Plan or the Agreement, nor taken any steps to verify the information set out therein and have no responsibility for such documents. 

 UNITED KINGDOM 

Terms and Conditions 
 Responsibility for
Taxes. The following supplements Section 10 of the Option Agreement: 
 You must pay to the Company or the Employer any amount of income tax that
the Company or the Employer may be required to account to Her Majesty’s Revenue and Customs (“HMRC”) with respect to the event giving rise to the income tax (the “Taxable Event”) that cannot be
satisfied by the means described in Section 10 of the Option Agreement. If payment or withholding of the income tax due is not made within ninety days of the end of the United Kingdom (“UK”) tax year in which the Taxable
Event occurs, or such other period as required under UK law (the “Due Date”), you agree that the amount of any uncollected income tax shall constitute a loan owed by you to the Employer, effective on the Due Date. You
agree that the loan will bear interest at the then-current HMRC Official Rate, it will be immediately due and repayable, and the Company or the Employer may recover it at any time thereafter by any of the
means referred to in Section 10 of the Option Agreement. If you fail to comply with your obligations in connection with the income tax as described in this section, the Company may refuse to deliver the shares of Common Stock acquired under the
Plan. 
 Notwithstanding the foregoing, if you are a director or executive officer of the Company (within the meaning of Section 13(k) of the U.S.
Securities Exchange Act of 1934, as amended), you shall not be eligible for a loan from the Employer to cover income tax. In the event that you are a director or executive officer and income tax is not collected from or paid by you by the Due Date,
the amount of any uncollected income tax may constitute a benefit to you on which additional income tax and National Insurance contributions (“NICs”) may be payable. You will be responsible for reporting and paying any income
tax due on this additional benefit directly to HMRC under the self-assessment regime and for reimbursing the Company or the Employer, as applicable, for any employee NICs due on this additional benefit, which may be recovered from you by the Company
or the Employer at any time thereafter by any of the means referred to in Section 10 of the Option Agreement. 
 Joint Election for Transfer of
Liability for Employer National Insurance Contributions. As a condition of participation in the Plan and the exercise of your option, you agree to accept any liability for secondary Class 1 National Insurance contributions that may be payable by
the Company or any Affiliate, including the Employer, in connection with your option and any event giving rise to Tax-Related Items (“Employer NICs”). Without prejudice to the foregoing, you agree to execute a joint election
with the Company or the Employer, the form of such joint election (the “Joint Election”) being attached to this Appendix and having been approved formally by HMRC, and any other required consent or election prior to exercise
of the option. You further agree to execute such other joint elections as may be required between you and any successor to the Company or any Affiliate, including the Employer. You further agree that the Company and any Affiliate, including the
Employer, may collect the Employer NICs from you by any of the means set forth in Section 10 of the Option Agreement. 
 If you do not enter into the
Joint Election prior to the exercise of your option, you will not be entitled to exercise the option unless and until you enter into the Joint Election, and no shares will be issued to you under the Plan, without any liability to the Company or any
Affiliate, including the Employer. 

 ADDITIONAL WORDING TO INCLUDE IF ELECTION IS TO BE ENTERED INTO ELECTRONICALLY: 

Onscreen disclaimer 
 If you are liable for National
Insurance contributions (“NICs”) in the UK in connection with your participation in the Pure Storage, Inc. 2015 Equity Incentive Plan, you are required to enter into an Election to transfer to you any liability for employer’s NICs
that may arise in connection with your participation in the Plan. 
 Clicking on the “ACCEPT” box indicates your acceptance of the Election. You
should read the “Important Note on the Election to Transfer Employer NICs” before accepting the Election. 
 Important Note on the
Election to Transfer Employer NICs 
 If you are liable for National Insurance contributions (“NICs”) in the UK in connection with your
participation in the Pure Storage, Inc. 2015 Equity Incentive Plan, you are required to enter into an Election to transfer to you any liability for employer’s NICs that may arise in connection with your participation in the Plan. 

By entering into the Election: 
  

	 	•	 	you agree that any employer’s NICs liability that may arise in connection with your participation in the Plan will be transferred to you; 

 

	 	•	 	you authorise your employer to recover an amount sufficient to cover this liability by such methods including, but not limited to, deductions from your salary or other payments due or the sale of sufficient shares
acquired pursuant to your awards; and 

  

	 	•	 	you acknowledge that even if you have clicked on the “ACCEPT” box where indicated, the Company or your employer may still require you to sign a paper copy of this Election (or a substantially similar form) if
the Company determines such is necessary to give effect to the Election. 

 Please read the Election carefully. 

Please print and keep a copy of the Election for your records. 

 Joint Election for Transfer of Liability for 

Employer National Insurance Contributions to Employee 

Election to Transfer the Employer’s National Insurance Liability to the Employee 

This Election is between: 
  

	A.	The individual who has obtained authorised access to this Election (the “Employee”), who is employed by a UK company listed in the attached Schedule (the “Employer”) and who is eligible
to receive stock options and/or restricted stock units (collectively, “Awards”) pursuant to the Pure Storage, Inc. 2015 Equity Incentive Plan (the “Plan”), and 

 

	B.	Pure Storage, Inc. with its registered office at 650 Castro Street, Suite #400, Mountain View, California, 94041 United States of America (the “Company”), which may grant Awards under the Plan and is
entering into this Election on behalf of the Employer. 

  

	1.	Introduction 

  

	1.1	This Election relates to all Awards granted to the Employee under the Plan up to the termination date of the Plan. 

  

	1.2	In this Election the following words and phrases have the following meanings: 

  

	 	(a)	“Chargeable Event” means, in relation to the Awards: 

  

	 	(i)	the acquisition of securities pursuant to the Awards (within section 477(3)(a) of ITEPA 2003); 

  

	 	(ii)	the assignment (if applicable) or release of the Awards in return for consideration (within section 477(3)(b) of ITEPA 2003); 

  

	 	(iii)	the receipt of a benefit in connection with the Awards, other than a benefit within (i) or (ii) above (within section 477(3)(c) of ITEPA 2003); 

 

	 	(iv)	post-acquisition charges relating to the Awards and/or shares acquired pursuant to the Awards (within section 427 of ITEPA 2003); and/or 

 

	 	(v)	post-acquisition charges relating to the Awards and/or shares acquired pursuant to the stock options (within section 439 of ITEPA 2003). 

 

	 	(b)	“ITEPA 2003” means the Income Tax (Earnings and Pensions) Act 2003. 

  

	 	(c)	“SSCBA” means the Social Security Contributions and Benefits Act 1992. 

  

	1.3	This Election relates to the Employer’s secondary Class 1 National Insurance contributions (the “Employer’s Liability”) which may arise on the occurrence of a Chargeable Event in respect
of the Awards pursuant to section 4(4)(a) and/or paragraph 3B(1A) of Schedule 1 of the SSCBA. 

	1.4	This Election does not apply in relation to any liability, or any part of any liability, arising as a result of regulations being given retrospective effect by virtue of section 4B(2) of either the SSCBA, or the Social
Security Contributions and Benefits (Northern Ireland) Act 1992. 

  

	1.5	This Election does not apply to the extent that it relates to relevant employment income which is employment income of the earner by virtue of Chapter 3A of Part VII of ITEPA 2003 (employment income: securities with
artificially depressed market value). 

  

	2.	The Election 

 The Employee and the Company jointly elect that the entire liability of
the Employer to pay the Employer’s Liability on the Chargeable Event is hereby transferred to the Employee. The Employee understands that, by signing or electronically accepting this Election, he or she will become personally liable for the
Employer’s Liability covered by this Election. This Election is made in accordance with paragraph 3B(1) of Schedule 1 of the SSCBA. 
  

	3.	Payment of the Employer’s Liability 

  

	3.1	The Employee hereby authorises the Company and/or the Employer to collect the Employer’s Liability from the Employee at any time after the Chargeable Event: 

 

	 	(i)	by deduction from salary or any other payment payable to the Employee at any time on or after the date of the Chargeable Event; and/or 

 

	 	(ii)	directly from the Employee by payment in cash or cleared funds; and/or 

  

	 	(iii)	by arranging, on behalf of the Employee, for the sale of some of the securities which the Employee is entitled to receive in respect of the Awards; and/or 

 

	 	(iv)	by any other means specified in the applicable award agreement. 

  

	3.2	The Company hereby reserves for itself and the Employer the right to withhold the transfer of any securities related to the Awards to the Employee until full payment of the Employer’s Liability is received.

  

	3.3	The Company agrees to procure the remittance by the Employer of the Employer’s Liability to Her Majesty’s Revenue & Customs on behalf of the Employee within 14 days after the end of the UK tax month
during which the Chargeable Event occurs (or within 17 days after the end of the UK tax month during which the Chargeable Event occurs if payments are made electronically). 

	4.	Duration of Election 

  

	4.1	The Employee and the Company agree to be bound by the terms of this Election regardless of whether the Employee is transferred abroad or is not employed by the Employer on the date on which the Employer’s Liability
becomes due. 

  

	4.2	Any reference in this Election to the Company and/or the Employer shall include that entity’s successors in title and assigns as permitted in accordance with the terms of the Plan and relevant award agreement. This
Election will continue in effect in respect of any awards which replace the Awards in circumstances where section 483 of ITEPA 2003 applies. 

  

	4.3	This Election will continue in effect until the earliest of the following: 

  

	 	(i)	the Employee and the Company agree in writing that it should cease to have effect; 

  

	 	(ii)	on the date the Company serves written notice on the Employee terminating its effect; 

  

	 	(iii)	on the date Her Majesty’s Revenue & Customs withdraws approval of this Election; or 

  

	 	(iv)	after due payment of the Employer’s Liability in respect of the entirety of the Awards to which this Election relates or could relate, such that the Election ceases to have effect in accordance with its terms.

  

	4.4	This Election will continue in force regardless of whether the Employee ceases to be an employee of the Employer. 

Acceptance by the Company 
 The
Company acknowledges that, by signing this Election or arranging for the scanned signature of an authorized representative to appear on this Election, the Company agrees to be bound by the terms of this Election. 

 

							
	Signature for and on behalf of the Company	 		 	  
	 	
	Position	 		 	  
	 	
	Date	 		 	  
	 	

 Schedule of Employer Companies 

The employing company to which this Election relates is: 
  

			
	Name	  	Pure Storage UK Limited
		
	Registered Office:	  	11th Floor Whitefriars, Lewins Mead, Bristol, BS1 2NT
		
	Company Registration Number:	  	08268206
		
	Corporation Tax Reference:	  	39442 28430
		
	PAYE Reference:	  	

 ATTACHMENT II 

2015 EQUITY INCENTIVE PLAN 

 ATTACHMENT III 

NOTICE OF EXERCISE 

 NOTICE OF EXERCISE 

Pure Storage, Inc. 
 Attention: Stock Plan Administrator 

650 Castro Street, Suite 400 
 Mountain View, CA, 94041-2155 USA

 Date of Exercise:                     

 This constitutes notice to Pure Storage, Inc. (the “Company”) under my stock option that I elect to purchase the
below number of shares of Common Stock of the Company (the “Shares”) for the price set forth below. 
  

					
	Type of option (check one):	 	Incentive  ̈	 	Nonstatutory  ̈
			
	Stock option dated:	 	                    	 	                    
			
	Number of Shares as to which option is exercised:	 	                    	 	                    
			
	Certificates to be issued in name of:	 	                    	 	                    
			
	Total exercise price:	 	US$            	 	US$            

							
		 	  
 Cash payment delivered

herewith:
	 	 US$            

–
	  	 US$            

–

		 	  
 Value of
                
 Shares delivered

herewith:
	 	 US$            

–
	  	 US$            

–

				
		 	 Regulation T Program (cashless

exercise):
	 	 US$            

–
	  	 US$            

–

 By this exercise, I agree (i) to provide such additional documents as you may require pursuant to the
terms of the Pure Storage, Inc. 2015 Equity Incentive Plan, (ii) to provide for the payment by me to you (in the manner designated by you) of your withholding obligation, if any, relating to the exercise of this option, and (iii) if this
exercise relates to an Incentive Stock option, to notify you in writing within fifteen (15) days after the date of any disposition of any of the Shares issued upon exercise of this option that occurs within two (2) years after the date of
grant of this option or within one (1) year after such Shares are issued upon exercise of this option. 

 
	
	Very truly yours,
	
	  

	Signature
	
	  

	Print Name

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00249-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00249-of-00352.parquet"}]]