Document:

EX-10.1

 Exhibit 10.1 

TIBCO SOFTWARE INC. 

2008 EQUITY INCENTIVE PLAN 

(February 27, 2014 Restatement) 

 TABLE OF CONTENTS 

 

									
	 	 	 	 	 	  	Page	 
		
	SECTION 1 BACKGROUND AND PURPOSE	  	 	1	  
				
		 	1.1	 	 Background and Effective Date
	  	 	1	  
		 	1.2	 	 Purpose of the Plan
	  	 	1	  
		
	SECTION 2 DEFINITIONS	  	 	1	  
				
		 	2.1	 	 “1934 Act”
	  	 	1	  
		 	2.2	 	 “Affiliate”
	  	 	1	  
		 	2.3	 	 “Award”
	  	 	2	  
		 	2.4	 	 “Award Agreement”
	  	 	2	  
		 	2.5	 	 “Board”
	  	 	2	  
		 	2.6	 	 “Cause”
	  	 	2	  
		 	2.7	 	 “Change of Control”
	  	 	2	  
		 	2.8	 	 “Code”
	  	 	2	  
		 	2.9	 	 “Committee”
	  	 	2	  
		 	2.10	 	 “Company”
	  	 	2	  
		 	2.11	 	 “Consultant”
	  	 	3	  
		 	2.12	 	 “Covered Employee”
	  	 	3	  
		 	2.13	 	 “Director”
	  	 	3	  
		 	2.14	 	 “Disability”
	  	 	3	  
		 	2.15	 	 “Employee”
	  	 	3	  
		 	2.16	 	 “Exchange Program”
	  	 	3	  
		 	2.17	 	 “Exercise Price”
	  	 	3	  
		 	2.18	 	 “Fair Market Value”
	  	 	3	  
		 	2.19	 	 “Fiscal Year”
	  	 	3	  
		 	2.20	 	 “Grant Date”
	  	 	3	  
		 	2.21	 	 “Incentive Stock Option”
	  	 	3	  
		 	2.22	 	 “Inside Director”
	  	 	3	  
		 	2.23	 	 “Non-Employee Director”
	  	 	3	  
		 	2.24	 	 “Nonqualified Stock Option”
	  	 	3	  
		 	2.25	 	 “Option”
	  	 	4	  
		 	2.26	 	 “Other Cash-Based Award”
	  	 	4	  
		 	2.27	 	 “Other Stock-Based Award”
	  	 	4	  
		 	2.28	 	 “Participant”
	  	 	4	  
		 	2.29	 	 “Performance Goals”
	  	 	4	  
		 	2.30	 	 “Performance Period”
	  	 	5	  
		 	2.31	 	 “Period of Restriction”
	  	 	5	  
		 	2.32	 	 “Plan”
	  	 	5	  
		 	2.33	 	 “Restricted Stock”
	  	 	5	  
		 	2.34	 	 “Restricted Stock Unit” or “RSU”
	  	 	5	  
		 	2.35	 	 “Retirement”
	  	 	5	  
		 	2.36	 	 “Rule 16b-3”
	  	 	5	  
		 	2.37	 	 “Section 16 Person”
	  	 	5	  
		 	2.38	 	 “Shares”
	  	 	5	  
		 	2.39	 	 “Stock Appreciation Right” or “SAR”
	  	 	5	  

  
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 TABLE OF CONTENTS 

(continued) 
  

									
	 	 	 	 	 	  	Page	 
				
		 	 2.40
	 	 “Subsidiary”
	  	 	6	  
		 	 2.41
	 	 “Tax Obligations”
	  	 	6	  
		 	 2.42
	 	 “Termination of Service”
	  	 	6	  
		 	 2.43
	 	 “TIBCO Prior Plans”
	  	 	6	  
		
	 SECTION 3 ADMINISTRATION
	  	 	6	  
				
		 	 3.1
	 	The Committee	  	 	6	  
		 	 3.2
	 	Authority of the Committee	  	 	6	  
		 	 3.3
	 	Delegation by the Committee	  	 	7	  
		 	 3.4
	 	Decisions Binding	  	 	7	  
		 	 3.5
	 	Restrictions and Legends	  	 	7	  
		
	 SECTION 4 SHARES SUBJECT TO THE PLAN
	  	 	7	  
				
		 	 4.1
	 	Number of Shares	  	 	7	  
		 	 4.2
	 	Full Value Awards	  	 	7	  
		 	 4.3
	 	Lapsed Awards	  	 	8	  
		 	 4.4
	 	Adjustments in Awards and Authorized Shares	  	 	8	  
		
	 SECTION 5 STOCK OPTIONS
	  	 	8	  
				
		 	 5.1
	 	Grant of Options	  	 	8	  
		 	 5.2
	 	Award Agreement	  	 	8	  
		 	 5.3
	 	Exercise Price	  	 	9	  
		 	 5.4
	 	Expiration of Options	  	 	9	  
		 	 5.5
	 	Exercisability of Options	  	 	9	  
		 	 5.6
	 	Payment	  	 	10	  
		 	 5.7
	 	Certain Additional Provisions for Incentive Stock Options	  	 	10	  
		
	 SECTION 6 STOCK APPRECIATION RIGHTS
	  	 	10	  
				
		 	 6.1
	 	Grant of SARs	  	 	10	  
		 	 6.2
	 	SAR Agreement	  	 	11	  
		 	 6.3
	 	Expiration of SARs	  	 	11	  
		
	 SECTION 7 RESTRICTED STOCK
	  	 	11	  
				
		 	 7.1
	 	Grant of Restricted Stock	  	 	11	  
		 	 7.2
	 	Restricted Stock Agreement	  	 	11	  
		 	 7.3
	 	Other Restrictions	  	 	11	  
		 	 7.4
	 	Voting Rights	  	 	12	  
		 	 7.5
	 	Dividends and Other Distributions	  	 	12	  
		
	 SECTION 8 RESTRICTED STOCK UNITS
	  	 	12	  
				
		 	 8.1
	 	Grant of RSUs	  	 	12	  
		 	 8.2
	 	RSU Agreement	  	 	12	  
		 	 8.3
	 	Section 162(m) Performance Objectives	  	 	13	  

  
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 TABLE OF CONTENTS 

(continued) 
  

									
	 	 	 	 	 	  	Page	 
		
	 SECTION 9 OTHER STOCK-BASED OR CASH-BASED AWARDS
	  	 	13	  
				
		 	 9.1
	 	 Grant of Other Stock-Based or Cash-Based Awards
	  	 	13	  
		 	 9.2
	 	 General Restrictions
	  	 	13	  
		
	 SECTION 10 GENERAL PROVISIONS
	  	 	13	  
				
		 	 10.1
	 	 Impact of Change of Control on Options, SARs, Restricted Stock Awards, Restricted Stock Unit Awards and Other Stock-Based
Awards
	  	 	13	  
		 	 10.2
	 	Impact of Change of Control on Other Cash-Based Awards	  	 	14	  
		 	 10.3
	 	 Assumption of Options, SARs, Restricted Stock Awards, Restricted Stock Unit Awards, and Other Stock-Based Awards Upon Change of
Control
	  	 	14	  
		 	 10.4
	 	Deferrals	  	 	15	  
		 	 10.5
	 	No Effect on Employment or Service	  	 	15	  
		 	 10.6
	 	Cancellation and Rescission of Awards	  	 	15	  
		 	 10.7
	 	Participation	  	 	16	  
		 	 10.8
	 	Successors	  	 	16	  
		 	 10.9
	 	Beneficiary Designations	  	 	16	  
		 	 10.10
	 	Limited Transferability of Awards	  	 	16	  
		 	 10.11
	 	No Rights as Stockholder	  	 	17	  
		 	 10.12
	 	Leaves of Absence	  	 	17	  
		 	 10.13
	 	Limitations on Non-Employee Directors Awards	  	 	17	  
		
	 SECTION 11 AMENDMENT, TERMINATION, AND DURATION
	  	 	18	  
				
		 	 11.1
	 	Amendment, Suspension, or Termination	  	 	18	  
		 	 11.2
	 	Duration of the Plan	  	 	18	  
		
	 SECTION 12 TAX WITHHOLDING
	  	 	18	  
				
		 	 12.1
	 	Withholding Requirements	  	 	18	  
		 	 12.2
	 	Withholding Arrangements	  	 	18	  
		
	 SECTION 13 LEGAL CONSTRUCTION
	  	 	18	  
				
		 	 13.1
	 	Gender and Number	  	 	18	  
		 	 13.2
	 	Severability	  	 	19	  
		 	 13.3
	 	Requirements of Law	  	 	19	  
		 	 13.4
	 	Securities Law Compliance	  	 	19	  
		 	 13.5
	 	Code Section 409A	  	 	19	  
		 	 13.6
	 	Governing Law	  	 	19	  
		 	 13.7
	 	Captions	  	 	19	  

  
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 TIBCO SOFTWARE INC. 

2008 EQUITY INCENTIVE PLAN 

(February 27, 2014 Restatement) 

SECTION 1 
 BACKGROUND AND PURPOSE

 1.1 Background and Effective Date. The Plan permits the grant of Nonqualified Stock Options, Incentive Stock Options, Stock
Appreciation Rights, Restricted Stock, and Restricted Stock Units. The Plan was originally effective as of August 1, 2008, upon approval by an affirmative vote of the holders of a majority of the Shares that were present in person or by proxy
and entitled to vote at the 2008 Annual Meeting of Stockholders of the Company. The Plan was subsequently amended and restated effective as of February 26, 2010, upon approval by an affirmative vote of the holders of a majority of the Shares
that were present in person or by proxy and entitled to vote at the 2010 Annual Meeting of Stockholders of the Company. The Plan was later amended and restated effective as of March 7, 2012, subject to approval by an affirmative vote of the
holders of a majority of the Shares present in person or by proxy and entitled to vote at the 2012 Annual Meeting of Stockholders of the Company. This amended and restated Plan is effective as of February 27, 2014 (the “Effective
Date”), subject to approval by an affirmative vote of the holders of a majority of the Shares present in person or by proxy and entitled to vote at the 2014 Annual Meeting of Stockholders of the Company. 

1.2 Purpose of the Plan. The Plan is intended to attract, motivate, and retain (a) employees of the Company, its Subsidiaries and
its Affiliates, (b) consultants who provide services to the Company, its Subsidiaries and Affiliates and (c) Non-Employee Directors. The Plan is also designed to permit the payment of compensation that qualifies as performance-based
compensation under Section 162(m) of the Code. The Plan is intended to replace the TIBCO Prior Plans. 
 SECTION 2 

DEFINITIONS 
 The following words
and phrases shall have the following meanings unless a different meaning is plainly required by the context: 
 2.1 “1934
Act” means the Securities Exchange Act of 1934, as amended. Reference to a specific section of the 1934 Act or regulation thereunder shall include such section or regulation, any valid regulation promulgated under such section, and any
comparable provision of any future legislation or regulation amending, supplementing or superseding such section or regulation. 
 2.2
“Affiliate” means any corporation or any other entity (including, but not limited to, partnerships and joint ventures) controlling, controlled by, or under common control with the Company. 

 2.3 “Award” means, individually or collectively, a grant of Options, SARs,
Restricted Stock, RSUs, Other Stock-Based Awards or Other Cash-Based Awards pursuant to the Plan. 
 2.4 “Award Agreement”
means the written agreement, notice, or other instrument or document setting forth the terms and conditions applicable to each Award granted pursuant to the Plan. 

2.5 “Board” means the Board of Directors of the Company. 

2.6 “Cause” shall have the meaning set forth in the Participant’s employment or other agreement with the Company or any
Subsidiary provided that if the Participant is not a party to any such employment or other agreement or such employment or other agreement does not contain a definition of Cause, then Cause shall have the meaning set forth in the applicable Award
Agreement. 
 2.7 “Change of Control” means (i) a sale of all or substantially all of the Company’s assets,
(ii) any merger consolidation, or other business combination transaction of the Company with or into another corporation, entity, or person, other than a transaction in which the holders of at least a majority of the shares of voting capital
stock of the Company outstanding immediately prior to such transaction continue to hold (either by such shares remaining outstanding or by their being converted into shares of voting capital stock of the surviving entity) a majority of the total
voting power represented by the shares of voting capital stock of the Company (or the surviving entity) outstanding immediately after such transaction, (iii) the direct or indirect acquisition (including by way of a tender or exchange offer) by
any person, or persons acting as a group, of beneficial ownership or a right to acquire beneficial ownership of shares representing a majority of the voting power of the then outstanding shares of capital stock of the Company, (iv) a contested
election of Directors, as a result of which or in connection with which the persons who were Directors before such election or their nominees cease to constitute a majority of the Board, or (v) a dissolution or liquidation of the Company. 

2.8 “Code” means the Internal Revenue Code of 1986, as amended from time to time, and any successor thereto. Reference to a
specific section of the Code or regulation thereunder shall include such section or regulation, any valid regulation promulgated under such section, and any comparable provision of any successor legislation or regulation amending, supplementing or
superseding such section or regulation. 
 2.9 “Committee” means the Compensation Committee of the Board or a subcommittee
thereof or such other committee as may be designated by the Board to administer the Plan. 
 2.10 “Company” means TIBCO
Software Inc., a Delaware corporation, or any successor thereto. 
 2.11 “Consultant” means any consultant, independent
contractor, advisor, or other natural person who provides services to the Company, its Subsidiaries or Affiliates, but who is neither an Employee nor a Director; provided, further, that a Consultant will include only those persons to whom the
issuance of Shares may be registered under Form S-8 under the Securities Act of 1933, as amended. 

  
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 2.12 “Covered Employee” has the meaning set forth in Section 162(m)(3) of
the Code. 
 2.13 “Director” means any individual who is a member of the Board of Directors of the Company. 

2.14 “Disability” means a permanent disability in accordance with a policy or policies established by the Company from time
to time. 
 2.15 “Employee” means any employee of the Company or of a Subsidiary, whether such employee is so employed at
the time the Plan is adopted or becomes so employed subsequent to the adoption of the Plan. 
 2.16 “Exchange Program”
means a program established by the Committee under which outstanding Awards are amended to provide for a lower Exercise Price or surrendered or cancelled in exchange for (a) Awards with a lower Exercise Price, (b) a different type of
Award, (c) cash, or (d) a combination of (a), (b) and/or (c). Notwithstanding the preceding, the term Exchange Program does not include any (i) action described in Section 4.4, or (ii) transfer or other disposition
permitted under Section 10.10. 
 2.17 “Exercise Price” means the price at which a Share may be purchased by a
Participant pursuant to the exercise of an Option. 
 2.18 “Fair Market Value” means the closing per share selling
price for Shares for the date of grant on the principal securities exchange on which the Shares are traded or, if there is no such sale on the relevant date, then on the last previous day on which a sale was reported; if the Shares are not listed
for trading on a national securities exchange, the fair market value of Shares shall be determined in good faith by the Committee. Notwithstanding the preceding, for federal, state, and local income tax reporting purposes, fair market value shall be
determined by the Company in accordance with uniform and nondiscriminatory standards adopted by it from time to time. 
 2.19
“Fiscal Year” means the fiscal year of the Company. 
 2.20 “Grant Date” means, with respect to an
Award, the date that the Award was granted. The Grant Date of an Award shall not be earlier than the date the Award is approved by the Committee. 

2.21 “Incentive Stock Option” means an Option to purchase Shares that is designated as an Incentive Stock Option and is
intended to meet the requirements of Section 422 of the Code. 
 2.22 “Inside Director” means a Director who is an
Employee. 
 2.23 “Non-Employee Director” means a Director who is not an employee of the Company, any Subsidiary or
any Affiliate. 
 2.24 “Nonqualified Stock Option” means an option to purchase Shares that is not intended to be an
Incentive Stock Option. 

  
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 2.25 “Option” means an Incentive Stock Option or a Nonqualified Stock Option.

 2.26 “Other Cash-Based Award” means a cash-based Award granted to a Participant under Section 9.1 hereof, including
cash awarded as a bonus or upon the attainment of Performance Goals or otherwise as permitted under the Plan. 
 2.27 “Other
Stock-Based Award” means an Award granted to a Participant pursuant to Section 9.1 hereof, that may be denominated or payable in, valued in whole or in part by reference to, or otherwise based on, or related to, Shares, each of which
may be subject to the attainment of Performance Goals or a period of continued employment or other terms and conditions as permitted under the Plan. 

2.28 “Participant” means an Employee, Non-Employee Director, or Consultant who has an outstanding Award. 

2.29 “Performance Goals” means performance goals based on one or more of the following criteria: (i) earnings including
operating income, earnings before or after taxes, earnings before or after interest, depreciation, amortization, or extraordinary or special items or book value per share (which may exclude nonrecurring items); (ii) pre-tax income or after-tax
income; (iii) earnings per common share (basic or diluted); (iv) operating profit; (v) revenue, revenue growth or rate of revenue growth; (vi) return on assets(gross or net), return on investment, return on capital, or return on
equity; (vii) returns on sales or revenues; (viii) operating expenses;(ix) stock price appreciation; (x) cash flow, free cash flow, cash flow return on investment (discounted or otherwise), net cash provided by operations, or
cash flow in excess of cost of capital; (xi) implementation or completion of critical projects or processes;(xii) economic value created; (xiii) cumulative earnings per share growth; (xiv) operating margin or profit margin;
(xv) common stock price or total stockholder return; (xvi) cost targets, reductions and savings, productivity and efficiencies; (xvii) intellectual property (e.g., patents); (xviii) product development; (xix) strategic
business criteria, consisting of one or more objectives based on meeting specified market penetration, geographic business expansion, customer satisfaction, employee satisfaction, human resources management, supervision of litigation, information
technology, and goals relating to acquisitions, divestitures, joint ventures and similar transactions, and budget comparisons; (xx) personal professional objectives, including any of the foregoing performance goals, the implementation of
policies and plans, the negotiation of transactions, the development of long term business goals, formation of joint ventures, research or development collaborations, and the completion of other corporate transactions; and (xxi) any combination
of, or a specified increase in, any of the foregoing. Where applicable, the Performance Goals may be expressed in terms of attaining a specified level of the particular criteria or the attainment of a percentage increase or decrease in the
particular criteria, and may be applied to one or more of the Company, a Subsidiary or a division or strategic business unit of the Company, or may be applied to the performance of the Company relative to a market index, a group of other companies
or a combination thereof, all as determined by the Committee. The Performance Goals may include a threshold level of performance below which no payment will be made (or no vesting will occur), levels of performance at which specified payments will
be made (or specified vesting will occur), and a maximum level of performance above which no additional payment will be made (or at which full vesting will occur). Each of the foregoing Performance Goals may be determined either in accordance with
generally 

  
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accepted accounting principles (“GAAP”) or on a non-GAAP basis and shall be subject to certification by the Committee; provided that, to the extent an Award is intended to satisfy the
performance-based compensation exception to the limits of Section 162(m) of the Code and then to the extent consistent with such exception, the Committee shall have the authority to make equitable adjustments to the Performance Goals in
recognition of unusual or non-recurring events affecting the Company or any Subsidiary or the financial statements of the Company or any Subsidiary, in response to changes in applicable laws or regulations, or to account for items of gain, loss or
expense determined to be extraordinary or unusual in nature or infrequent in occurrence or related to the disposal of a segment of a business or related to a change in accounting principles. Awards issued to persons who are not Covered Employees may
take into account any other factors deemed appropriate by the Committee. 
 2.30 “Performance Period” means the period
selected by the Committee during which the performance of the Company or any Subsidiary, division or strategic business unit thereof or any individual is measured for the purpose of determining the extent to which an Award subject to Performance
Goals has been earned. 
 2.31 “Period of Restriction” means the period during which the transfer of Shares of Restricted
Stock are subject to restrictions and therefore, the Shares are subject to a substantial risk of forfeiture. As provided in Section 7, such restrictions may be based on the passage of time, the achievement of target levels of performance, or
the occurrence of other events as determined by the Committee. 
 2.32 “Plan” means the TIBCO Software Inc. 2008 Equity
Incentive Plan, as set forth in this instrument and as hereafter amended from time to time. 
 2.33 “Restricted Stock”
means an Award granted to a Participant pursuant to Section 7. 
 2.34 “Restricted Stock Unit” or
“RSU” means an Award granted to a Participant pursuant to Section 8. 
 2.35 “Retirement” means, in
the case of a Non-Employee Director or an Employee a Termination of Service occurring in accordance with a policy or policies established by the Company from time to time, provided, however that with respect to a Consultant, no Termination of
Service shall be deemed to be on account of “Retirement.” 
 2.36 “Rule 16b-3” means Rule 16b-3 promulgated under
the 1934 Act, and any future regulation amending, supplementing or superseding such regulation. 
 2.37 “Section 16
Person” means a person who, with respect to the Shares, is subject to Section 16 of the 1934 Act. 
 2.38
“Shares” means the shares of common stock of the Company. 
 2.39 “Stock Appreciation Right” or
“SAR” means an Award, granted alone or in connection with a related Option, that pursuant to Section 6 is designated as an SAR. 

  
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 2.40 “Subsidiary” means any corporation in an unbroken chain of corporations
beginning with the Company as the corporation at the top of the chain, but only if each of the corporations below the Company (other than the last corporation in the unbroken chain) then owns stock possessing fifty percent (50%) or more of the
total combined voting power of all classes of stock in one of the other corporations in such chain. 
 2.41 “Tax
Obligations” means income tax and social insurance contribution, payroll tax, payment on account, or other tax-related withholding obligations and requirements in connection with the Awards, including, without limitation, (a) all
federal, national, state, foreign and local taxes (including the Participant’s FICA obligation) that are required to be withheld by the Company or the employing Affiliate or Subsidiary, (b) the Participant’s and, to the extent
required by the Company (or the employing Affiliate or Subsidiary), the Company’s (or the employing Affiliate or Subsidiary’s) fringe benefit tax liability, if any, associated with the grant, vesting, exercise or sale of Shares, and
(c) any other Company (or employing Affiliate or Subsidiary) taxes the responsibility for which the Participant has agreed to bear with respect to such Award (including the exercise thereof or issuance of Shares thereunder). 

2.42 “Termination of Service” means (a) in the case of an Employee, a cessation of the employee-employer relationship
between the Employee and the Company or a Subsidiary or Affiliate for any reason, including, but not by way of limitation, a termination by resignation, discharge, death, Disability, Retirement, or the disaffiliation of a Subsidiary, but excluding
any such termination where there is a simultaneous reemployment by the Company or a Subsidiary or Affiliate; (b) in the case of a Consultant, a cessation of the service relationship between the Consultant and the Company or a Subsidiary or
Affiliate for any reason, including, but not by way of limitation, a termination by resignation, discharge, death, Disability, or the disaffiliation of a Subsidiary or Affiliate, but excluding any such termination where there is a simultaneous
re-engagement of the consultant by the Company or a Subsidiary or Affiliate; and (c) in the case of a Non-Employee Director, a cessation of the Director’s service on the Board for any reason, including, but not by way of limitation, a
termination by resignation, death, Disability, Retirement or non-reelection to the Board. For the purpose of administering the Plan, Termination of Service shall be deemed to occur when an Employee is no longer actively employed by the Company or a
Subsidiary or Affiliate and will not be extended by any notice of termination period or leave period if the Employee is not actively rendering services during said period. 

2.43 “TIBCO Prior Plans” means the Company’s 1996 Stock Option Plan, as amended and restated, and the Company’s
1998 Director Option Plan, as amended and restated. 
 SECTION 3 

ADMINISTRATION 
 3.1 The
Committee. The Plan shall be administered by the Committee. 
 3.2 Authority of the Committee. It shall be the duty of
the Committee to administer the Plan in accordance with the Plan’s provisions. The Committee shall have all powers and discretion necessary or appropriate to administer the Plan and to control its operation, including, but not limited to, the
power to (a) determine which Employees, Non-Employee Directors and Consultants shall be 

  
 -6- 

 
granted Awards, (b) prescribe the terms and conditions of the Awards, (c) interpret the Plan and the Awards, (d) adopt such procedures and subplans as are necessary or appropriate
to permit participation in the Plan by Employees, Non-Employee Directors and Consultants who are foreign nationals or employed outside of the United States, (e) adopt rules and guidelines for the administration, interpretation and application
of the Plan as are consistent therewith, and (f) interpret, amend or revoke any such rules and guidelines. Notwithstanding the preceding, the Committee shall not implement an Exchange Program without the approval of the holders of a majority of
the Shares that are present in person or by proxy and entitled to vote at any Annual or Special Meeting of Stockholders of the Company. 

3.3 Delegation by the Committee. The Committee, on such terms and conditions as it may provide, may delegate all or any part of
its authority and powers under the Plan to one or more Directors or officers of the Company. Notwithstanding the foregoing, with respect to Awards that are intended to qualify as performance-based compensation under Section 162(m) of the Code,
the Committee may not delegate its authority and powers with respect to such Awards if such delegation would cause the Awards to fail to so qualify. The Committee may delegate its authority and power under the Plan to one or more officers of the
Company, subject to guidelines prescribed by the Committee, but only with respect to Participants who are not Section 16 Persons. 

3.4 Decisions Binding. All determinations and decisions made by the Committee, the Board, and any delegate of the Committee
pursuant to the provisions of the Plan shall be final, conclusive, and binding on all persons, and shall be given the maximum deference permitted by law. 

3.5 Restrictions and Legends. The Committee may impose such restrictions on any Shares delivered pursuant to the Plan as it may deem
advisable, including, but not limited to, restrictions on transfer or restrictions related to applicable federal securities laws, the requirements of any national securities exchange or system upon which Shares are then listed or traded, or any blue
sky or state securities laws. 
 SECTION 4 

SHARES SUBJECT TO THE PLAN 
 4.1
Number of Shares. Subject to adjustment as provided in Section 4.4, the total number of Shares available for issuance under the Plan shall not exceed 42,000,000. Awards granted under the TIBCO Prior Plans during the period
commencing on April 17, 2008 and ending on July 31, 2008, shall be deducted from the total number of Shares available for issuance under the Plan. 

4.2 Full Value Awards. Any Shares subject to Awards of Restricted Stock, Restricted Stock Units, and Other Stock-Based Awards
granted on or after the Effective Date shall be counted against the numerical limits of Section 4.1 as 2.00 Shares for every one Share subject thereto. Further, if Shares acquired pursuant to any Awards of Restricted Stock, Restricted Stock
Units, and Other Stock-Based Awards (whether granted before, on or after the Effective Date) are forfeited or repurchased by the Company and would otherwise return to the Plan pursuant to Section 4.3, 2.00 times the number of Shares so
forfeited or repurchased shall return to the Plan and shall again become available for issuance. 

  
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 4.3 Lapsed Awards. If an Award or an award under either of the TIBCO Prior Plans is
settled in cash, or is cancelled, terminates, expires, or lapses for any reason, any Shares subject to such Award again shall be available to be the subject of an Award or award under the Plan. Shares withheld in satisfaction of Tax Obligations
pursuant to Section 12.2 as well as the Shares that represent payment of the Exercise Price shall cease to be available under the Plan. Shares that have actually been issued under the Plan under any Award shall not be returned to the Plan and
shall not become available for future distribution under the Plan; provided, however, that if unvested Shares of Restricted Stock or Restricted Stock Units or Other Stock-Based Awards are repurchased by the Company or are forfeited to the Company,
such Shares shall become available for future grant under the Plan. To the extent an Award under the Plan is paid out in cash rather than Shares, such cash payment shall not result in a reduction of the number of Shares available for issuance under
the Plan. Notwithstanding the foregoing and, subject to adjustment provided in Section 4.4, the maximum number of Shares that may be issued upon the exercise of Incentive Stock Options shall equal the aggregate Share number stated in
Section 4.1, plus, to the extent allowable under Section 422 of the Code, any Shares that become available for issuance under the Plan under this Section 4.3. 

4.4 Adjustments in Awards and Authorized Shares. In the event that any dividend or other distribution (whether in the form of
cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or
other change in the corporate structure of the Company affecting the Shares such that an adjustment is determined by the Committee to be appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended to be
made available under the Plan, then the Committee shall, in such manner as it may deem equitable, adjust the number and class of Shares that may be delivered under the Plan, the number, class, and price of Shares (or other property or cash) subject
to outstanding Awards, and the numerical limits of Sections 5.1, 6.1, 7.1, 8.1 and 9.2. Notwithstanding the preceding, the number of Shares subject to any Award always shall be a whole number. 

SECTION 5 
 STOCK OPTIONS 

5.1 Grant of Options. An Option represents the right to purchase a Share at an Exercise Price. Subject to the terms and provisions of
the Plan, Options may be granted to Employees, Non-Employee Directors and Consultants at any time and from time to time as determined by the Committee. The Committee shall determine the number of Shares subject to each Award, provided that during
any Fiscal Year, no Participant shall be granted Options (and/or SARs) covering more than a total of 2,000,000 Shares. Notwithstanding the foregoing, during the Fiscal Year in which a Participant first becomes an Employee, he or she may be granted
Options (and/or SARs) to purchase up to a total of an additional 2,000,000 Shares. The Committee may grant Incentive Stock Options, Nonqualified Stock Options, or a combination thereof. 

5.2 Award Agreement. All Options shall be evidenced by an Award Agreement that shall specify the Exercise Price, the date on which
the Options will become exercisable, the expiration date of the Options, the number of Shares, any conditions to exercise the Options, and such other terms and conditions as the Committee shall determine. The Award Agreement shall also specify
whether the Options are intended to be Incentive Stock Options or a Nonqualified Stock Options. 

  
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 5.3 Exercise Price. 

5.3.1 Nonqualified Stock Options. In the case of a Nonqualified Stock Option, the Exercise Price shall be determined by the Committee,
but shall be not less than one hundred percent (100%) of the Fair Market Value on the Grant Date. 
 5.3.2 Incentive Stock
Options. In the case of an Incentive Stock Option, the Exercise Price shall be not less than one hundred percent (100%) of the Fair Market Value on the Grant Date; provided, however, that if on the Grant Date, the Employee (together with
persons whose stock ownership is attributed to the Employee pursuant to Section 424(d) of the Code) owns stock possessing more than 10% of the total combined voting power of all classes of stock of the Company or any of its Subsidiaries, the
Exercise Price shall be not less than one hundred and ten percent (110%) of the Fair Market Value on the Grant Date. 
 5.3.3
Substitute Options. Notwithstanding the provisions of Section 5.3.2, in the event that the Company or a Subsidiary consummates a transaction described in Section 424(a) of the Code (e.g., the acquisition of property or stock from an
unrelated corporation), persons who become Employees or Consultants on account of such transaction may be granted Options in substitution for options granted by their former employer (or parent company or affiliated company of such former employer).
If such substitute Options are granted, the Committee consistent with Section 424(a) of the Code, may determine that each such substitute Options shall have an Exercise Price less than one hundred percent (100%) of the Fair Market Value on
the Grant Date. 
 5.4 Expiration of Options.

5.4.1 Expiration Dates. Each Option shall terminate no later than the first to occur of the following events: 

(a) The date for termination of the Option set forth in the written Award Agreement; or 

(b) The expiration of seven (7) years from the Grant Date. 

5.4.2 Death of Participant. Notwithstanding Section 5.4.1, if a Participant dies prior to the expiration of his or her Options,
the Committee may provide that his or her Options shall be exercisable for up to twelve (12) months after the date of death. 
 5.4.3
Committee Discretion. Subject to the seven and eight-year limits of Sections 5.4.1 and 5.4.2, the Committee (a) shall provide in each Award Agreement when each Option expires and becomes unexercisable, and (b) may, after an
Option is granted, extend the maximum term of the Option (subject to Section 5.7.4 regarding Incentive Stock Options). 
 5.5
Exercisability of Options. Options granted under the Plan shall be exercisable at such times and be subject to such restrictions and conditions as the Committee shall determine. After an Option is granted, the Committee may accelerate
the exercisability of the Option. 

  
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 5.6 Payment. Options shall be exercised by the Participant giving notice and
following such procedures as the Company (or its designee) may specify from time to time. Exercise of an Option also requires that the Participant make arrangements satisfactory to the Company for full payment of the Exercise Price for the Shares.
All exercise notices shall be given in the form and manner specified by the Company from time to time. 
 The Exercise Price shall be
payable to the Company in full (a) in cash or its equivalent, or (b) subject to the terms of the applicable Award Agreement, by tendering previously acquired Shares having an aggregate Fair Market Value at the time of exercise equal to the
total Exercise Price, or (c) by any other means which the Committee determines to both provide legal consideration for the Shares and set forth in the applicable Award Agreement, and to be consistent with the purposes of the Plan. 

5.7 Certain Additional Provisions for Incentive Stock Options.

5.7.1 Exercisability. The aggregate Fair Market Value (determined on the Grant Date(s)) of the Shares with respect to which Incentive
Stock Options are exercisable for the first time by any Employee during any calendar year (under all plans of the Company and its Subsidiaries) shall not exceed $100,000. 

5.7.2 Termination of Service. No Incentive Stock Option may be exercised more than three (3) months after the Participant’s
Termination of Service for any reason other than Disability or death, unless (a) the Participant dies during such three-month period, and/or (b) the Award Agreement or the Committee permits later exercise (in which case the Option instead
may be deemed to be a Nonqualified Stock Option). No Incentive Stock Option may be exercised more than one (1) year after the Participant’s Termination of Service on account of Disability, unless (a) the Participant dies during such
one-year period, and/or (b) the Award Agreement or the Committee permit later exercise (in which case the option instead may be deemed to be a Nonqualified Stock Option). 

5.7.3 Employees Only. Incentive Stock Options may be granted only to persons who are employees of the Company or a Subsidiary on the
Grant Date. 
 5.7.4 Expiration. No Incentive Stock Option may be exercised after the expiration of seven (7) years from the
Grant Date; provided, however, that if the Option is granted to an Employee who, together with persons whose stock ownership is attributed to the Employee pursuant to Section 424(d) of the Code, owns stock possessing more than 10% of the total
combined voting power of all classes of the stock of the Company or any of its Subsidiaries, the Option may not be exercised after the expiration of five (5) years from the Grant Date. 

SECTION 6 
 STOCK APPRECIATION
RIGHTS 
 6.1 Grant of SARs. A SAR represents the right with respect to a Share to receive a payment, in cash, Shares, or both (as
determined by the Committee), with a value equal to the excess of Fair Market Value on the date of exercise (or, if so specified in the Award Agreement, on the date 

  
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immediately preceding the date of exercise) over the Award’s Grant Price. Subject to the terms and conditions of the Plan, a SAR may be granted to Employees, Non-Employee Directors and
Consultants at any time and from time to time as shall be determined by the Committee. 
 6.1.1 Number of Shares. The Committee shall
determine the number of SARs, if any, granted to any Participant, provided that during any Fiscal Year, no Participant shall be granted SARs (and/or Options) covering more than a total of 2,000,000 Shares. Notwithstanding the foregoing, during the
Fiscal Year in which a Participant first becomes an Employee, he or she may be granted SARs (and/or Options) covering up to a total of an additional 2,000,000 Shares. 

6.1.2 Exercise Price and Other Terms. The Committee, subject to the provisions of the Plan, shall determine the terms and conditions of
SARs granted under the Plan. The Exercise Price of each SAR shall be determined by the Committee but shall not be less than one hundred percent (100%) of the Fair Market Value on the Grant Date. After a SAR is granted, the Committee may
accelerate the exercisability of the SAR. 
 6.2 SAR Agreement. Each SAR grant shall be evidenced by an Award Agreement that
shall specify the exercise price, the term of the SAR, the conditions of exercise, and such other terms and conditions as the Committee shall determine. 

6.3 Expiration of SARs. A SAR granted under the Plan shall expire upon the date determined by the Committee and set forth in the
Award Agreement. Notwithstanding the foregoing, the rules of Section 5.4 also shall apply to SARs. 
 SECTION 7 

RESTRICTED STOCK 
 7.1 Grant of
Restricted Stock. Restricted Stock are Shares that are awarded to a Participant and that during the Restricted Period are forfeitable to the Company upon such conditions as set forth in the applicable Award Agreement. Subject to the terms
and provisions of the Plan, the Committee, at any time and from time to time, may grant Shares of Restricted Stock to Employees, Non-Employee Directors and Consultants as the Committee shall determine. The Committee shall determine the number of
Shares, if any, to be granted to each Participant, provided that during any Fiscal Year, no Participant shall receive more than a total of 700,000 Shares of Restricted Stock (and/or Restricted Stock Units). Notwithstanding the foregoing, during the
Fiscal Year in which a Participant first becomes an Employee, he or she may be granted up to a total of an additional 700,000 Shares of Restricted Stock (and/or Restricted Stock Units). 

7.2 Restricted Stock Agreement. Each Award of Restricted Stock shall be evidenced by an Award Agreement that shall specify the
Period of Restriction, the number of Shares granted, and such other terms and conditions as the Committee shall determine. After an Award of Restricted Stock has been made, the Committee may waive all or any part of the applicable Period of
Restriction. 
 7.3 Other Restrictions. The Committee may impose such other restrictions on Shares of Restricted Stock as it may
deem advisable or appropriate, in accordance with this Section 7.3. 

  
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 7.3.1 General Restrictions. The Committee may set restrictions based upon continued
employment or service with the Company and its Subsidiaries, the achievement of specific performance objectives (Company-wide, departmental, or individual), applicable federal or state securities laws, or any other basis determined by the Committee.

 7.3.2 Section 162(m) Performance Restrictions. For purposes of qualifying grants of Restricted Stock as
“performance-based compensation” under Section 162(m) of the Code, the Committee may set restrictions based upon the achievement of Performance Goals. The Performance Goals shall be set by the Committee on or before the latest date
permissible to enable the Restricted Stock to qualify as “performance-based compensation” under Section 162(m) of the Code. In granting Restricted Stock which is intended to qualify under Section 162(m) of the Code, the Committee
shall follow any procedures determined by it from time to time to be necessary or appropriate to ensure qualification of the Restricted Stock under Section 162(m) of the Code (e.g., in determining the Performance Goals). 

7.4 Voting Rights. During the Period of Restriction, Participants holding Shares of Restricted Stock granted hereunder may
exercise full voting rights with respect to those Shares, unless the Committee determines otherwise. 
 7.5 Dividends and Other
Distributions. During the Period of Restriction, Participants holding Shares of Restricted Stock shall be entitled to receive all dividends and other distributions paid with respect to such Shares unless otherwise provided in the Award
Agreement. Any such dividends or distribution shall be subject to the same restrictions on transferability and forfeitability as the Shares of Restricted Stock with respect to which they were paid, unless otherwise provided in the Award Agreement.
The Company may require such dividends or other distributions be deposited with the Company until such time as the restrictions on transferability of the corresponding Shares of Restricted Stock lapse. 

SECTION 8 
 RESTRICTED STOCK UNITS

 8.1 Grant of RSUs. Restricted Stock Units represent the right to receive Shares, cash, or both (as determined by the
Committee) upon satisfaction of such conditions as set forth in the applicable Award agreement. Restricted Stock Units may be granted to Employees, Non-Employee Directors and Consultants at any time and from time to time, as shall be determined by
the Committee. The Committee shall determine the number of Restricted Stock Units, if any, granted to each Participant, provided that during any Fiscal Year, no Participant shall be granted more than a total of 700,000 Restricted Stock Units (and/or
Shares of Restricted Stock). Notwithstanding the foregoing, during the Fiscal Year in which a Participant first becomes an Employee, he or she may be granted up to a total of an additional 700,000 Restricted Stock Units (and/or Shares of Restricted
Stock). 
 8.2 RSU Agreement. Each Award of Restricted Stock Units shall be evidenced by an Award Agreement that shall specify
any vesting conditions and/or performance objectives, the number of Restricted Stock Units granted, and such other terms and conditions as the Committee shall determine. After an Award of Restricted Stock Units has been granted, the Committee may

  
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waive any vesting or performance conditions. Except as provided in the applicable Award agreement, a Participant shall have with respect to such Restricted Stock Units none of the rights of a
holder of Shares unless and until Shares are actually delivered in satisfaction of such Restricted Stock Units. 
 8.3
Section 162(m) Performance Objectives. For purposes of qualifying grants of Restricted Stock Units as “performance-based compensation” under Section 162(m) of the Code, the Committee may determine that the performance
objectives applicable to Restricted Stock Units shall be based on the achievement of Performance Goals. The Performance Goals shall be set by the Committee on or before the latest date permissible to enable the Restricted Stock Units to qualify as
“performance-based compensation” under Section 162(m) of the Code. In granting Restricted Stock Units that are intended to qualify under Section 162(m) of the Code, the Committee shall follow any procedures determined by it from
time to time to be necessary or appropriate to ensure qualification of the Restricted Stock Units under Section 162(m) of the Code (e.g., in determining the Performance Goals). 

SECTION 9 
 OTHER STOCK-BASED OR
CASH-BASED AWARDS 
 9.1 Grant of Other Stock-Based or Cash-Based Awards. The Committee is authorized to grant Awards to
Participants in the form of Other Stock-Based Awards or Other Cash-Based Awards, as deemed by the Committee to be consistent with the purposes of the Plan. The Committee shall determine the terms and conditions of such Awards, consistent with the
terms of the Plan, at the date of grant or thereafter, including the Performance Goals and Performance Periods. Shares or other securities or property delivered pursuant to an Award in the nature of a purchase right granted under this
Section 9.1 shall be purchased for such consideration, paid for at such times, by such methods, and in such forms, including, without limitation, Shares, other Awards, or other property, as the Committee shall determine, subject to any required
corporate action. 
 9.2 General Restrictions. With respect to a Participant, (i) the maximum value of the Other Cash-Based
Awards that may be granted to any Participant during any Fiscal Year is $10,000,000, and (ii) the maximum number of Shares that any Participant may be granted during any Fiscal Year with respect to Other Stock-Based Awards is 2,000,000 Shares.
No payment shall be made to a Covered Employee prior to the certification by the Committee that the Performance Goals have been attained. The Committee may establish such other rules applicable to the Other Stock- or Cash-Based Awards to the extent
not inconsistent with Section 162(m) of the Code. Payments earned in respect of any Cash-Based Award may be decreased or, with respect to any grantee who is not a Covered Employee, increased by the Committee based on such factors as the
Committee deems appropriate. 
 SECTION 10 

GENERAL PROVISIONS 
 10.1
Impact of Change of Control on Options, SARs, Restricted Stock Awards, Restricted Stock Unit Awards and Other Stock-Based Awards. Notwithstanding any other provision of the Plan or the terms of any
Award of Options, SARs, Restricted Stock, RSUs and Other Stock-Based 

  
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Awards, upon a Change of Control, in the event that Awards of Options, SARs, Restricted Stock, RSUs and Other Stock-Based Awards are not assumed by the successor corporation or its parent or a
subsidiary pursuant to Section 10.3 below, then (a) Options and Stock Appreciation Rights outstanding as of the date of the Change of Control shall become fully vested and exercisable, (b) Restricted Stock Awards and Restricted Stock
Unit Awards shall become fully vested and free of any restrictions (including, without limitation, any performance vesting criteria), and (c) the restrictions and other conditions applicable to any Other Stock-Based Awards or any other Awards
shall lapse, and such Other Stock-Based Awards or such other Awards shall become free of all restrictions, limitations or conditions and become fully vested in full or part and transferable to the full extent of the original grant, subject in each
case to any terms and conditions, if any, contained in the Award Agreement evidencing such Award, including but not limited to a condition that such treatment will apply only if the Participant remains employed on the effective date of the Change of
Control or has incurred an involuntary termination of employment without cause on account of the Change of Control, as determined by the Committee in its sole discretion, within a period of up to 3 months prior to the effective date of the Change of
Control. Notwithstanding any other provision of the Plan, the Committee, in its discretion, may determine that, upon the occurrence of a Change of Control, each outstanding Award shall be fully vested and terminate within a specified number of days
after notice to the Participant, and such Participant shall receive, with respect to each Share subject to any such Award of Restricted Stock, RSU and Other Stock-Based Awards, an amount equal to the Fair Market Value immediately prior to the
occurrence of such Change of Control, or with respect to any such Award of Options or SARs, the amount equal to the Fair Market Value immediately prior to the occurrence of such Change of Control over the exercise price per share of such Option
and/or SAR; such amount in either case to be payable in cash, in one or more kinds of stock or property (including the stock or property, if any, payable in the transaction) or in a combination thereof, as the Committee, in its discretion, shall
determine. 
 10.2 Impact of Change of Control on Other Cash-Based Awards. Notwithstanding any other provision of the Plan, the
terms of any Other Cash-Based Award may provide in the Award Agreement evidencing the Award that, upon a Change of Control, in the event that the Other Cash-Based Awards are not assumed by the successor corporation or its parent or a subsidiary,
(a) a pro rata portion of the Other Cash-Based Awards shall be considered to be earned and payable based on the portion of the Other Cash-Based Award Performance Period completed as of the date of the Change of Control and based on performance
to such date, or if performance to such date is not determinable, based on target performance. 
 10.3 Assumption of Options, SARs,
Restricted Stock Awards, Restricted Stock Unit Awards, and Other Stock-Based Awards Upon Change of Control. In the event of a Change of Control, the successor company may assume or substitute for an Option, SAR, Restricted Stock Award,
Restricted Stock Unit Award, or Other Stock-Based Award. For the purposes of this Section 10.3, an Award of Option, SARs, Restricted Stock, RSUs, or Other Stock-Based Award shall be considered assumed or substituted for if following the Change
of Control the award confers the right to purchase or receive, for each Share subject to the Option, SAR, Restricted Stock Award, Restricted Stock Unit Award, or Other Stock-Based Award immediately prior to the Change of Control, the consideration
(whether stock, cash or other securities or property) received in the transaction constituting a Change of Control by holders of Shares for each Share held on the effective date of such transaction (and if holders were offered a choice of
consideration, the type of 

  
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consideration chosen by the holders of a majority of the outstanding shares); provided, however, that if such consideration received in the transaction constituting a Change of Control is not
solely common stock of the successor company, the Committee may, with the consent of the successor company, provide that the consideration to be received upon the exercise or vesting of an Option, Stock Appreciation Right, Restricted Stock Award,
Restricted Stock Unit Award, or Other Stock-Based Award, for each Share subject thereto, will be solely common stock of the successor company substantially equal in fair market value to the per share consideration received by holders of Shares in
the transaction constituting a Change of Control. The determination of such substantial equality of value of consideration shall be made by the Committee in its sole discretion and its determination shall be conclusive and binding. Notwithstanding
the foregoing, unless the applicable Award Agreement expressly provides that the provisions of this sentence shall not apply to the Award, in the event of an involuntary termination of a Participant’s employment without Cause by such successor
company within 24 months of the date of a Change of Control, each Award held by such Participant at the time of the Change of Control shall be accelerated as described in Section 10.1. For the purposes of this Section 10.3, if
“Cause” has not been defined in any applicable Award Agreement, “Cause” shall mean (i) an act of fraud or personal dishonesty undertaken by a Participant in connection with the Participant’s responsibilities as an
employee that is intended to result in substantial gain or personal enrichment of the Participant at the expense of the Company, (ii) a Participant’s conviction of, or plea of nolo contendere to, a felony, (iii) a
Participant’s gross misconduct in connection with the performance or failure of performance of a material component of the Participant’s responsibilities as an employee that is materially injurious to the Company, or (iv) a
Participant’s continued substantial violations of his or her employment duties after the Participant has received a written demand for performance from the Company which specifically sets forth the factual basis for the Company’s belief
that the Participant has not substantially performed such duties. 
 10.4 Deferrals. The Committee may permit a Participant to
defer receipt of the payment of cash or the delivery of Shares that otherwise would be due to such Participant under an Award. Any such deferral elections shall be subject to such rules and procedures as shall be determined by the Committee. 

10.5 No Effect on Employment or Service. Nothing in the Plan shall interfere with or limit in any way the right of the Company or
a Subsidiary to terminate any Participant’s employment or service at any time, with or without cause, subject to compliance with local law. For purposes of the Plan, transfer of employment of a Participant between the Company and any one of its
Subsidiaries (or between Subsidiaries) shall not be deemed a Termination of Service. 
 10.6 Cancellation and Rescission of
Awards. The following provisions of this Section 10.6 shall apply to Awards granted to individuals who are, were or become Section 16 Persons. The Committee or the Board may, in its sole and absolute discretion, cancel, rescind,
forfeit, suspend or otherwise limit or restrict any unexpired Award at any time if the Section 16 Person engages in “Detrimental Activity” (as defined below). Furthermore, in the event a Section 16 Person engages in Detrimental
Activity at any time prior to or during the six months after any exercise of an Award, lapse of a restriction under an Award or delivery of Common Stock pursuant to an Award, such exercise, lapse or delivery may be rescinded until the later of
(i) two years after such exercise, lapse or delivery or (ii) two years after such Detrimental Activity. Upon such 

  
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rescission, the Company at its sole option may require the Section 16 Person to (i) deliver and transfer to the Company the shares of Stock received by the Section 16 Person upon
such exercise, lapse or delivery, (ii) pay to the Company an amount equal to any realized gain received by the Section 16 Person from such exercise, lapse or delivery, (iii) pay to the Company an amount equal to the market price (as
of the exercise, lapse or delivery date) of the Stock acquired upon such exercise, lapse or delivery minus the respective price paid upon exercise, lapse or delivery, if applicable or (iv) pay the Company an amount equal to any cash awarded
with respect to an Award. The Company shall be entitled to set-off any such amount owed to the Company against any amount owed to the Section 16 Person by the Company. As used in this Section 10.6, “Detrimental Activity” shall
include: (i) the failure to comply with any term set forth in the Company’s Employment Agreement; (ii) any activity that results in termination of the Section 16 Officer’s employment for Cause; (iii) the Section 16
Person being convicted of, or entering a guilty plea with respect to a crime connected with the Company; or (iv) the filing (or a determination that a filing is required) of a Material Negative Restatement (as defined below) of a Company
financial statement that was filed with the U.S. Securities and Exchange Commission and such financial statement, as originally filed, is one of the Company’s three (3) most recently filed annual financial statements preceding the date a
Performance Goal relating to a specific Award is deemed met by the Committee. A “Material Negative Restatement” is an adjustment to the Company’s relevant financial statement which (i) would reduce both GAAP and non-GAAP revenue,
income and earnings per share or would increase both GAAP and non-GAAP expenses resulting in a reduction in both income and earnings per share; (ii) is as a result of an intentional, willful or negligent act of any employee of the Company; and
(iii) is not the result of a change in any applicable law, rule, regulation, pronouncement, accounting practice or procedure. 
 10.7
Participation. No Employee or Consultant shall have the right to be selected to receive an Award under this Plan, or, having been so selected, to be selected to receive a future Award. 

10.8 Successors. All obligations of the Company under the Plan, with respect to Awards granted hereunder, shall 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 or assets of the Company. 

10.9 Beneficiary Designations. If permitted by the Committee, a Participant under the Plan may name a beneficiary or beneficiaries
to whom any vested but unpaid Award shall be paid in the event of the Participant’s death. Each such designation shall revoke all prior designations by the Participant and shall be effective only if given in a form and manner acceptable to the
Committee. In the absence of any such designation, any vested benefits remaining unpaid at the Participant’s death shall be paid to the Participant’s estate and, subject to the terms of the Plan and of the applicable Award Agreement, any
unexercised vested Award may be exercised by the administrator or executor of the Participant’s estate. 
 10.10 Limited
Transferability of Awards. No Award granted under the Plan may be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, other than by will, by the laws of descent and distribution, to a Participant’s spouse,
former spouse or dependent pursuant to a court-approved domestic relations order which relates to the provision of child support, alimony 

  
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payments or marital property rights or to the limited extent provided in this Section 10.10. All rights with respect to an Award granted to a Participant shall be available during his or her
lifetime only to the Participant. Notwithstanding the foregoing, the Participant may, in a manner specified by the Committee, if the Committee so permits, transfer an Award by bona fide gift and not for any consideration, to (i) a member or
members of the Participant’s immediate family, (ii) a trust established for the exclusive benefit of the Participant and/or member(s) of the Participant’s immediate family, (iii) a partnership, limited liability company or other
entity whose only partners or members are the Participant and/or member(s) of the Participant’s immediate family, or (iv) a foundation in which the Participant and/or member(s) of the Participant’s immediate family control the
management of the foundation’s assets. Any such transfer shall be made in accordance with such procedures as the Committee may specify from time to time. 

10.11 No Rights as Stockholder. Except to the limited extent provided in Sections 7.4 and 7.5, no Participant (nor any
beneficiary) shall have any of the rights or privileges of a stockholder of the Company with respect to any Shares issuable pursuant to an Award (or exercise thereof), unless and until certificates representing such Shares shall have been issued,
recorded on the records of the Company or its transfer agents or registrars, and delivered to the Participant (or beneficiary). 
 10.12
Leaves of Absence. Unless otherwise expressly determined by the Committee or required by applicable law, vesting of Awards and/or any Shares issuable pursuant to an Award (or exercise thereof), will be treated as follows during a leave
of absence of a Participant: 
 10.12.1 Statutory Leave of Absence. Vesting credit will continue during a leave of absence if the
leave satisfies each of the following requirements: (a) the leave is approved by the Company, (b) the leave is mandated by applicable law, and (c) the Participant takes the leave in accordance with such law and complies with
applicable Company leave policies (a leave meeting all such requirements being a “Statutory Leave of Absence”). 
 10.12.2
Approved Personal Leave of Absence. Vesting credit will not continue (and instead will be tolled or suspended) during any leave of absence that is not a Statutory Leave of Absence (a “Personal Leave of Absence”). For purposes of
clarification, a Participant will not be considered to have incurred a Termination of Service during any Company-approved Personal Leave of Absence so long as the Participant complies with applicable law and applicable Company leave policies. 

10.13 Limitations on Non-Employee Directors Awards. 

10.13.1 Cash-Settled Awards. No Non-Employee Director may be granted, in any fiscal year of the Company, cash-settled Awards with a
grant date fair value (determined in accordance with GAAP) of more than $750,000, increased to $1,000,000 in connection with his or her initial service. 

10.13.2 Stock-Settled Awards. No Non-Employee Director may be granted, in any fiscal year of the Company, stock-settled Awards with a
grant date fair value (determined in accordance with U.S. generally accepted accounting principles) of more than $750,000, increased to $1,000,000 in connection with his or her initial service. 

  
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 SECTION 11 

AMENDMENT, TERMINATION, AND DURATION 

11.1 Amendment, Suspension, or Termination. The Board may amend, suspend or terminate the Plan, or any part thereof, at any time
and for any reason. The amendment, suspension, or termination of the Plan shall not, without the consent of the Participant, alter or impair any rights or obligations under any Award theretofore granted to such Participant. No Award may be granted
during any period of suspension or after termination of the Plan. 
 11.2 Duration of the Plan. The Plan shall be effective as
of August 1, 2008, and, subject to Section 11.1, shall remain in effect thereafter. However, without further stockholder approval, no Incentive Stock Option may be granted under the Plan after February 27, 2024. 

SECTION 12 
 TAX WITHHOLDING 

12.1 Withholding Requirements. Prior to the delivery of any Shares or cash pursuant to an Award (or exercise thereof), the Company
shall have the power and the right to deduct or withhold, or require a Participant to remit to the Company, an amount sufficient to satisfy federal, national, foreign, state, and local taxes (including the Participant’s FICA, income tax,
national insurance, social insurance, payment on account, payroll taxes or other tax-related withholding or similar insurance or tax obligations) required to be withheld with respect to such Award (or exercise thereof). 

12.2 Withholding Arrangements. The Committee, pursuant to such procedures as it may specify from time to time, may permit a
Participant to satisfy his or her Tax Obligations, in whole or in part by (a) electing to have the Company withhold otherwise deliverable Shares, or (b) delivering to the Company already-owned Shares having a Fair Market Value equal to the
amount required to be withheld or remitted. The amount of the Tax Obligations shall be deemed to include any amount which the Committee agrees may be withheld at the time the election is made, not to exceed the amount determined by using the maximum
federal, state or local marginal income tax rates applicable to the Participant or the Company, as applicable, with respect to the Award on the date that the amount of tax or social insurance liability to be withheld or remitted is to be determined.
The Fair Market Value of the Shares to be withheld or delivered shall be determined as of the date that the Tax Obligations are required to be withheld or remitted, or (c) by any other procedures set forth in the applicable Award Agreement.

 SECTION 13 
 LEGAL
CONSTRUCTION 
 13.1 Gender and Number. Except where otherwise indicated by the context, any masculine term used herein also
shall include the feminine; the plural shall include the singular and the singular shall include the plural. 

  
 -18- 

 13.2 Severability. In the event any provision of the Plan shall be held illegal or
invalid for any reason, the illegality or invalidity shall not affect the remaining parts of the Plan, and the Plan shall be construed and enforced as if the illegal or invalid provision had not been included. 

13.3 Requirements of Law. The granting of Awards and the issuance of Shares under the Plan shall be subject to all applicable
laws, rules, and regulations, and to such approvals by any governmental agencies or national securities exchanges as may be required. 

13.4 Securities Law Compliance. With respect to Section 16 Persons, transactions under this Plan are intended to qualify for
the exemption provided by Rule 16b-3. To the extent any provision of the Plan, Award Agreement or action by the Committee fails to so comply, it shall be deemed null and void, to the extent permitted by law and deemed advisable or appropriate by the
Committee. 
 13.5 Code Section 409A. Unless otherwise specifically determined by the Committee, the Committee shall comply with
Code Section 409A in establishing the rules and procedures applicable to deferrals in accordance with Section 10.4 and taking or permitting such other actions under the terms of the Plan that otherwise would result in a deferral of
compensation subject to Code Section 409A. 
 13.6 Governing Law. The Plan and all Award Agreements shall be construed in
accordance with and governed by the laws of the State of Delaware (with the exception of its conflict of laws provisions). 
 13.7
Captions. Captions are provided herein for convenience only, and shall not serve as a basis for interpretation or construction of the Plan. 

  
 -19-<PAGE>

                                                                  Exhibit 10.22

                  VOLUNTARY SEPARATION AGREEMENT AND RELEASE
                  ------------------------------------------

In consideration of the mutual promises and agreements hereinafter set forth,
the receipt and sufficiency of which are hereby mutually acknowledged, Allstate
Insurance Company, its subsidiaries, parents and affiliates ("Allstate"), on
its own behalf and on behalf of its officers, directors, agents, servants,
employees, stockholders and assigns, and all other persons, firms, associations
and corporations jointly or severally liable with it, and ANURAG CHANDRA
("Mr. Chandra") presently an employee of Allstate, do hereby enter into this
Voluntary Separation Agreement and Release ("Agreement") and do hereby mutually
covenant and agree as follows:

    1.   Effective as of the close of business on October 4, 2013, Mr. Chandra
         shall be reassigned from his current position. He will assume a
         special assignment position within Allstate, which position shall
         consist of new duties, obligations and responsibilities as dictated by
         special projects. Mr. Chandra's special assignment position shall
         continue thereafter, to and including March 31, 2014. As of the close
         of business on March 31, 2014, Mr. Chandra's employment with Allstate
         shall fully terminate. During the period of Mr. Chandra's special
         assignment, the following conditions will apply:

          (i)    Allstate will pay Mr. Chandra the amount of $39,783.33 (Thirty
                 Nine Thousand Seven Hundred Eighty Three Dollars and Thirty
                 Three Cents) per month. During this time of Mr. Chandra's
                 special assignment position, Allstate shall continue to
                 provide Mr. Chandra with its usual and customary 401(k) plan
                 match, pension plan contributions, and health insurance
                 contributions.

          (ii)   On or before March 31, 2014, Mr. Chandra will be paid for any
                 Paid Time Off days (commonly referred to as "PTO") earned but
                 not used prior to October 4, 2013. Mr. Chandra will not be
                 entitled to any further PTO in 2013 or 2014.

          (iii)  Mr. Chandra shall be entitled to any unreimbursed business
                 expenses incurred prior to October 4, 2013.

          (iv)   Mr. Chandra shall not be eligible for any benefits under
                 Allstate's short term disability program, nor shall he be
                 eligible for any long term disability benefits as of
                 October 4, 2013.

          (v)    Mr. Chandra shall be entitled to no further compensation,
                 severance, salary, wage, bonus, (including any annual
                 incentive plan payment for the 2014 performance year), equity
                 or other grants, paid time off or other form of remuneration
                 or consideration as of March 31, 2014, except as hereinafter
                 set forth in paragraph 7 of this Agreement.

                                     - 1 -

<PAGE>

    2.   Nothing in this Agreement may be read to alter or amend any terms or
         conditions of Mr. Chandra's employment with Allstate other than those
         specified in this Agreement. All other employment policies continue in
         effect with regard to Mr. Chandra's employment.

    3.   By accepting payments under this Agreement, Mr. Chandra is waiving any
         entitlement he believes he has to benefits that may otherwise be
         available under the Allstate Severance Pay Plan and/or the Change of
         Control Severance Plan, if applicable.

    4.   After his employment with Allstate ceases as described in Paragraph 1
         of this Agreement, Mr. Chandra shall not seek employment at any time
         with any Allstate office, subsidiary or affiliate, nor shall
         Mr. Chandra accept work at any Allstate office, subsidiary or
         affiliate, nor shall Mr. Chandra purchase an Allstate agency.

    5.   Should Mr. Chandra die after the effective date of this agreement but
         on or before all payments have been made pursuant to this Agreement,
         such payments shall be paid to Mr. Chandra's estate as they become
         payable.

    6.   Any stock options awarded to Mr. Chandra and scheduled to vest shall
         vest subject to the terms of his respective Option Award Agreement(s).
         Any Allcorp restricted stock units awarded to Mr. Chandra and
         scheduled to unrestrict shall unrestrict subject to the terms of his
         respective Restricted Stock Unit Award Agreement(s). Any performance
         stock awards awarded to Mr. Chandra will be forfeited on March 31,
         2014.

    7.   In lieu of any cash bonus for which he may be eligible in accordance
         with the terms of Allstate's Annual Incentive Plan ("AIP") for the
         2013 performance year, Allstate shall pay Mr. Chandra an amount of
         $406,000 (Four Hundred Six Thousand and 00/100 Dollars), subject to
         federal, state, FICA, and other applicable tax deductions, on or about
         March 15, 2014. Such amount is in addition to the payment specified in
         paragraph 1 above .

    8.   Mr. Chandra has held a position of trust and confidence with Allstate
         and possesses and has had access to highly valuable, confidential
         and/or proprietary information ("Confidential Information"). This term
         shall be interpreted broadly to include all information of any sort
         (whether merely

                                     - 2 -

<PAGE>

       remembered or embodied in a tangible medium) that: (i) is related to
       Allstate's business; and (ii) is not generally or publicly known. It
       includes, without limitation, customer, employee and supplier
       information; sales, financial, business, and new product development
       plans; information about Allstate software, hardware and other
       technologies, trade secrets, financial results, strategies, copyrights,
       data files, and other proprietary information, regardless of media or
       form. Mr. Chandra agrees that such Confidential Information is the
       property of Allstate. Mr. Chandra shall return all company property and
       all copies (paper or electronic), including but not limited to, files,
       data studies, software, plans and equipment and whether or not
       containing Confidential Information, to Allstate on or before March 31,
       2014. Mr. Chandra shall not (i) disclose, cause or permit disclosure of
       the Confidential Information nor (ii) make any use of the Confidential
       Information for himself or others except as required by law or approved
       in writing by Allstate and shall notify Allstate promptly should he
       become aware of any unauthorized disclosure of such information.

       In addition, Mr. Chandra acknowledges and confirms his ongoing
       obligation to promptly disclose to Allstate any ideas, inventions,
       discoveries, improvements, methods of doing business, processes,
       products, information, software, trademarks, or trade secrets that were
       conceived, developed or reduced to practice by Mr. Chandra, either
       solely or jointly with others, at any point during his Allstate
       employment, whether or not they are patentable, copyrightable or subject
       to trademark or trade secret protection ("Allstate Developments"). All
       Allstate Developments shall be the sole and exclusive property of
       Allstate, and Mr. Chandra agrees to assign and does hereby assign them
       to Allstate. Each copyrightable Allstate Development prepared in whole
       or part by Mr. Chandra with the scope of his employment with Allstate
       shall either be deemed a "work made for hire" under the copyright laws,
       and Allstate shall own the entire copyright in each such copyrightable
       Allstate Development or, if not deemed a "work made for hire," he agrees
       to assign and does hereby assign such Allstate Developments to Allstate.
       At Allstate's expense, Mr. Chandra will cooperate fully with Allstate in
       patenting, registering, maintaining, enforcing, and defending such
       Allstate Developments. Allstate shall own any records made by
       Mr. Chandra relating to Allstate Developments or the creation thereof.

       The parties to this Agreement recognize that irreparable harm would
       result from any breach by Mr. Chandra of any of the covenants contained
       herein this Paragraph 8 and that monetary damages alone would not
       provide adequate relief for any such breach. Accordingly, in the event
       of a breach or threatened breach of any of the covenants contained in
       this Paragraph 8, Mr. Chandra acknowledges and agrees that Allstate
       shall be entitled to specific performance and/or injunctive or other
       equitable relief from a court of competent jurisdiction in order to
       enforce or prevent any violations of such covenants (without posting a
       bond or other security). Moreover, Mr. Chandra

                                     - 3 -

<PAGE>

         acknowledges and agrees that any award of injunctive relief shall not
         preclude Allstate from seeking or recovering any lawful compensatory
         damages which may have resulted from a breach of any of the covenants
         contained in Paragraph 8. Furthermore, Allstate may take any action at
         its discretion to protect its confidential information including the
         discontinuation of any and all payments still due and owing under this
         Agreement.

    9.   Allstate shall provide Mr. Chandra, at his request, with professional
         outplacement assistance at an outplacement firm selected by Allstate.
         Regardless of when Mr. Chandra begins using such assistance, such
         assistance shall not last longer than six months and shall end no
         later than March 31, 2015.

    10.  Allstate shall provide employment references in accordance with
         Allstate policy governing same, provided that Mr. Chandra directs all
         requests for such references to Harriet Harty, Senior Vice President,
         Human Resources at Allstate's Home Office.

    11.  In return for the consideration set forth in this Agreement, which
         Mr. Chandra would not be entitled to if he did not voluntarily enter
         into this Agreement, Mr. Chandra for himself, his heirs,
         representatives, administrators, and assigns does hereby release and
         forever discharge Allstate, its officers, directors, agents, servants,
         employees, stockholders and assigns, its subsidiaries, parents and
         affiliates, and all other persons, firms, associations and
         corporations who are or may be jointly or severally liable with it, of
         and from any and all claims, demands, actions and causes of action,
         whether presently known or unknown, arising from, or in any way
         related to, Mr. Chandra's employment with Allstate and the termination
         thereof. This release applies to all claims, demands, actions, and
         causes of action whether presently known or unknown, existing at the
         time this Agreement is executed, including, but not limited to, such
         rights and claims Mr. Chandra has or may have under the Fair Labor
         Standards Act, 29 U.S.C. (S) 201, et seq.; Title VII of the Civil
         Rights Act of 1964, 42 U.S.C. (S) 2000 (e), et seq.; the Civil Rights
         Act of 1866, 42 U.S.C. (S) 1981, et seq., the Americans with
         Disabilities Act, 42 U.S.C. (S) 1201, et seq., the National Labor
         Relations Act, 29 U.S.C. (S)151, et seq.; the Family Medical Leave
         Act, 29 U.S.C. (S)2601 et seq.; the Rehabilitation Act of 1973, 29
         U.S.C. (S)701 et seq.; Federal Executive Order 11246; the Employee
         Retirement Income Security Act of 1974, 29 U.S.C. (S)201 et seq.; the
         Rehabilitation Act, 29 U.S.C. (S)701 et seq.; the Pregnancy
         Discrimination Act, 42 U.S.C. (S)2000 et seq.; the Whistleblower
         Protection Statutes, 10 U.S.C. (S)2409, 12 U.S.C. (S)1831j, 31 U.S.C.
         (S)5328, 41 U.S.C. (S)265; the Illinois Wage Payment and Collection
         Act; the Illinois Human Rights Act; and/or any other similar federal,
         state or local statute, law, ordinance, regulation or order.

                                     - 4 -

<PAGE>

    12.  In addition to the foregoing, Mr. Chandra does hereby expressly waive
         any and all rights or claims which he has or may have under the Age
         Discrimination in Employment Act of 1967 (29 U.S.C. (S)(S) 621-634) or
         any similar law or rule of any other jurisdiction, to the full extent
         that she may waive such rights and claims pertaining to the matters
         released herein. The Age Discrimination in Employment Act of 1967
         provides, in pertinent part, as follows:

            It shall be unlawful for an employer--

            (1) to fail or refuse to hire or to discharge any individual or
            otherwise discriminate against any individual with respect to his
            compensation, terms, conditions, or privileges of employment,
            because of such individual's age;

            (2) to limit, segregate, or classify his employees in any way which
            would deprive or tend to deprive any individual of employment
            opportunities or otherwise adversely affect his status as an
            employee, because of such individual's age; or

            (3) to reduce the wage rate of any employee in order to comply with
            this chapter.

         29 U.S.C. (S) 623(a).

    13.  Further, Mr. Chandra releases and forever discharges, Allstate from
         any and all other demands, claims, causes of action, obligations,
         agreements, promises, representations, damages, suits and liabilities
         whatsoever, both known or unknown, in law or in equity up to the date
         that this Agreement is executed. Mr. Chandra further promises, agrees
         and covenants not to file any lawsuit, of any nature whatsoever
         against Allstate with any federal, state or local court with regard to
         any claim or cause of action which he has or may have had, known or
         unknown, arising prior to the date of this Agreement, that is subject
         to Mr. Chandra's release of claims.

         Allstate releases and forever discharges Mr. Chandra from any and all
         demands, claims, causes of actions, obligations, agreements, promises,
         representations, damages, suits and liabilities whatsoever, both known
         or unknown, in law or in equity, up to the date that this Agreement is
         executed. Allstate further promises, agrees and covenants not to file
         any lawsuit, of any nature whatsoever against Mr. Chandra with any
         federal, state or local court with regard to any claim or cause of
         action which it has or may have had, known or unknown, arising prior
         to the date of this Agreement that is subject

                                     - 5 -

<PAGE>

         to Allstate's release of claims. However, nothing contained in this
         paragraph or in this Agreement shall release any claims that Allstate
         may have against Mr. Chandra as a result of Mr. Chandra's (i) willful
         misconduct, (ii) material breach of fiduciary duty, or (iii) felonious
         act.

    14.  The parties agree that Mr. Chandra will not encourage or assist any
         employee of Allstate and/or other person(s) or entity(ies) in
         litigating claims or filing administrative charges against Allstate,
         and/or those released in this Agreement unless required to provide
         testimony or documents pursuant to a lawful subpoena or as otherwise
         required by law.

    15.  Mr. Chandra further understands that Allstate reserves the right to
         set off the sums paid to him by Allstate as consideration for this
         Agreement against any recovery received by Mr. Chandra in the event he
         pursues any action, proceeding, complaint, or charge, as proscribed in
         Paragraphs 11-13. However, nothing in this Agreement shall be
         interpreted as interfering with the protected right of an employee to
         file a charge with the U.S. Equal Employment Opportunity Commission
         ("EEOC") or participate in an investigation or proceeding conducted by
         the EEOC. Mr. Chandra is, however, waiving the right to recover any
         money in connection with such a charge or investigation. In addition,
         nothing contained in this paragraph shall prevent Mr. Chandra from
         enforcing the terms of this Agreement.

    16.  Mr. Chandra covenants and agrees to provide written notice of any
         subpoena, notice or command to Susie Lees, or her successor as General
         Counsel, at Allstate Insurance Company, 2775 Sanders Road, Suite F-7,
         Northbrook, IL 60062. Mr. Chandra shall provide said notice by
         overnight mail, return receipt requested, within three (3) calendar
         days of his receipt of the subpoena, notice, request for information
         or other command.

    17.  Mr. Chandra agrees to make himself available to and cooperate with
         Allstate in any Allstate internal investigation or administrative,
         regulatory, or judicial proceeding in which he is or may be witness.
         Such cooperation by Mr. Chandra is understood to include, but not be
         limited to, making himself available to Allstate upon reasonable
         notice for interviews and factual investigations, appearing at
         Allstate's request for the purpose of giving testimony without
         requiring service of a subpoena or other legal process, volunteering
         to Allstate pertinent information, and turning over to Allstate all
         relevant documents which are or may in the future come into
         Mr. Chandra's possession. In the event that Allstate asks for
         Mr. Chandra's cooperation in accordance with this paragraph, Allstate
         agrees to reimburse Mr. Chandra for

                                     - 6 -

<PAGE>

         reasonable travel expenses, including lodging and meals, upon
         submission of receipts to Allstate for such expenses.

    18.  Allstate agrees that if Mr. Chandra is made a party, or is threatened
         to be made a party, to any action, suit or proceeding, whether civil,
         criminal, administrative or investigative (a "Proceeding"), by reason
         of the fact that he is or was a director, officer or employee of
         Allstate or is or was serving at the request of Allstate as a director
         or officer of another corporation, partnership, joint venture, trust
         or other enterprise, including service with respect to employee
         benefit plans, whether or not the basis of such Proceeding is
         Mr. Chandra's alleged action in an official capacity while serving as
         a director, officer, member, employee or agent, Mr. Chandra shall be
         indemnified by Allstate to the fullest extent legally permitted or
         authorized by Allstate's bylaws in effect as of the date of the
         termination of Mr. Chandra's employment against all expense and
         liability (including, without limitation, attorney's fees, judgments,
         fines, ERISA excise taxes or penalties and amounts paid or to be paid
         in settlement) reasonably incurred or suffered by Mr. Chandra in
         connection therewith, and such indemnification shall continue as to
         Mr. Chandra even if he has ceased to be a director, member, employee
         or agent of Allstate or other entity and shall inure to the benefit of
         his heirs, executors and administrators. Allstate shall advance to
         Mr. Chandra all reasonable expenses incurred by him in conjunction
         with a Proceeding in accordance with the procedure provided for in
         Allstate's by-laws. Such request shall include an undertaking by
         Mr. Chandra to repay the amount of such advance if it shall ultimately
         be determined that he is not entitled to be indemnified against such
         costs and expenses.

    19.  Mr. Chandra agrees that for a period of twelve (12) months following
         the date of Mr. Chandra's termination from Allstate, Mr. Chandra will
         not, directly or indirectly: (i) encourage any employee or agent of
         Allstate to terminate his or her relationship with Allstate;
         (ii) employ, engage as a consultant or adviser, or solicit the
         employment or engagement as a consultant or adviser of any employee or
         agent of Allstate, or cause or encourage any person to do any of the
         foregoing. However, this subparagraph (ii) shall not apply to any
         individual who (a) was involuntarily terminated by Allstate,
         (b) voluntarily left the employ of Allstate, in the absence of any
         solicitation to do so by Mr. Chandra, at least 60 days prior to such
         employment by Mr. Chandra, or (c) is employed by a company that
         employs Mr. Chandra but which Mr. Chandra had no involvement in such
         employment; (iii) establish, or take preliminary steps to establish, a
         business with, or encourage others to establish, or take preliminary
         steps to establish, a business with, any employee or exclusive agent
         or independent contractor of Allstate; or (iv) interfere with the
         relationship of Allstate with, or endeavor to entice away

                                     - 7 -

<PAGE>

         from Allstate, any person who or which at any time since Mr. Chandra's
         hire date was or is a material customer or material supplier of, or
         maintained a material business relationship with, Allstate. For
         purposes of this subparagraph, "material" means greater than $1
         million dollars annually.

    20.  Mr. Chandra agrees that for a period of six (6) months from
         October 17, 2013, he will not, except as a passive investor in
         publicly held companies, engage in, own or control an interest in, act
         as a principal, director, officer or employee of, or serve as a
         consultant to any of the companies listed in Attachment A to this
         Agreement. In the event that Allstate learns of a breach by
         Mr. Chandra of this paragraph after Allstate has made payment under
         paragraph 1 and 7 of this Agreement, it has the right to recoup from
         Mr. Chandra any such payments.

    21.  The existence and terms of this Agreement are to be held in strict
         confidence by Mr. Chandra and any discussion of this Agreement shall
         be limited to those parties absolutely essential for accounting
         purposes, tax purposes, securing of employment, government benefits,
         loans, or in any other case where it is absolutely essential or
         required by law. In those circumstances, those parties to whom such
         communication is made will be put on notice of the confidentiality of
         the Agreement.

    22.  Allstate and Mr. Chandra agree that Mr. Chandra may revoke this
         Agreement if, within seven (7) calendar days from the date this
         Agreement is executed, Mr. Chandra provides written notice to Harriet
         Harty, Human Resources, 2775 Sanders Road, Suite F6, Northbrook, IL
         60062 of his intention to revoke the Agreement. Accordingly, this
         Agreement shall not become effective or enforceable until seven (7)
         calendar days have passed after its execution.

    23.  Mr. Chandra and Allstate further warrant and acknowledge that
         Mr. Chandra was given 21 calendar days, from the date this Agreement
         was presented to him, in which to consider this Agreement prior to its
         execution. It is further acknowledged that Mr. Chandra was advised in
         writing to consult with an attorney prior to executing this Agreement.
         Mr. Chandra and Allstate further warrant and acknowledge that they
         have each read, reviewed, and fully considered the terms of this
         Agreement, have made such investigation of the facts pertinent hereto
         as each deems necessary and appropriate, and fully understand the
         terms and effect of this Agreement and execute the same freely of
         their own accord. Mr. Chandra and Allstate hereby acknowledge that the
         terms of

                                     - 8 -

<PAGE>

         this Agreement are contractual, and not a mere recital, and are the
         result of mutual consent to, and understanding of, the terms of this
         Agreement. This Agreement contains the entire agreement between the
         parties, and each acknowledges that there are no other agreements or
         understandings between them except as expressly provided for herein.
         This Agreement is to be governed by the law of the State of llinois.

    24.  At no time shall Mr. Chandra make any remarks disparaging the conduct
         or character of Allstate, or any of its respective subsidiaries,
         affiliates, agents, attorneys, managers, employees, officers,
         directors, successors, or assigns. Mr. Chandra agrees and promises
         that he will not defame, criticize or make any negative remark,
         written or oral, to any person or entity relating to Allstate, his
         employment with Allstate, or his termination of employment from
         Allstate. Mr. Chandra further agrees that should he violate this
         provision, Allstate shall have the right to pursue any and all
         remedies which may be available to it, whether legal, equitable or
         otherwise. Mr. Chandra further acknowledges that Allstate's right to
         recover any remedy under this provision does not preclude Allstate
         from exercising any and all remedies available to it for any violation
         or breach of any other term, condition or provision of this Agreement.

         No member of the Allstate Nondisparagement Group, defined as (i) all
         Allstate corporate entities and (ii) all employees of Allstate
         Insurance Company who are members of Allstate's Senior Leadership Team
         and Allstate Financial's Senior Leadership Team, shall make any
         remarks disparaging the conduct or character of Mr. Chandra. All
         members of the Allstate Nondisparagement Group agree and promise that
         they will not defame, criticize or make any negative remark, written
         or oral, to any person or entity relating to Mr. Chandra, his
         employment with Allstate, or his termination of employment from
         Allstate. All members of the Allstate Nondisparagement Group further
         agree that should they violate this provision, Mr. Chandra shall have
         the right to pursue any and all remedies which may be available to
         him, whether legal, equitable or otherwise. All members of the
         Allstate Nondisparagement Group further acknowledge that Mr. Chandra's
         right to recover any remedy under this provision does not preclude him
         from exercising any and all remedies available to him for any
         violation or breach of any other term, condition or provision of this
         Agreement.

    25.  Except as provided below with regards to Paragraphs 11-15, Mr. Chandra
         and Allstate agree and understand that should any provision, term or
         condition of this Agreement be declared illegal, void or
         unenforceable, it shall be severed. The remaining terms, provisions
         and conditions shall remain in full force and effect and shall remain
         binding on Mr. Chandra and Allstate. If any of the Paragraphs 11-15
         are declared illegal, void or unenforceable because of any

                                     - 9 -

<PAGE>

         action undertaken by Mr. Chandra, the remaining terms, provisions and
         conditions shall remain in full force and effect and shall remain
         binding on Mr. Chandra and Allstate with the exception that
         Mr. Chandra shall be required to return to Allstate all benefits paid
         to him under this Agreement from the date that this Agreement was
         executed.

    26.  Mr. Chandra and Allstate hereby agree and understand that this
         Agreement contains the complete and entire agreement between
         Mr. Chandra and Allstate concerning the terms, provisions and
         conditions of this Agreement. Mr. Chandra and Allstate further agree
         and understand that the terms, provisions and conditions of this
         Agreement may not be altered or modified except by a subsequent
         writing signed by Mr. Chandra and a duly authorized agent of Allstate.

    27.  This Agreement shall be binding upon and inure to the benefit of the
         parties to this Agreement and their respective heirs, administrators,
         representatives, executors, successors and assigns

   I HAVE READ THIS VOLUNTARY SEPARATION AGREEMENT AND RELEASE AND,
UNDERSTANDING ALL OF ITS TERMS, I SIGN IT AS MY FREE ACT AND DEED.

   IN WITNESS WHEREOF, the parties hereto have approved and executed this
Agreement on this 17 day of October, 2013.

                                             /s/ Anurag Chandra
                                             -----------------------------------
                                                       ANURAG CHANDRA
                                                      October 17, 2013
                                             -----------------------------------
                                                            Date

                                             ALLSTATE INSURANCE COMPANY

                                             By:  /s/ Harriet K. Harty
                                                  -----------------------------

                                    - 10 -

<PAGE>

                                 ATTACHMENT A

American Family
Farmers
GEICO
Nationwide
Progressive
State Farm
Travelers
USAA

                                    - 11 -

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