Document:

EX-10.7

 Exhibit 10.7 

 
  

 
 MAVENIR SYSTEMS, INC.

 2013 EQUITY INCENTIVE PLAN 
 Adopted January 23, 2013 
  

 
  

  
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 TABLE OF CONTENTS 

 

							
	 Article I INTRODUCTION
	  	 	1	  
			
	 1.1
	    	 Purpose
	  	 	1	  
	 1.2
	    	 Definitions
	  	 	1	  
	 1.3
	    	 Shares Subject to the Plan
	  	 	6	  
	 1.4
	    	 Administration of the Plan
	  	 	8	  
	 1.5
	    	 Granting of Awards to Participants
	  	 	10	  
	 1.6
	    	 Term of Plan
	  	 	10	  
	 1.7
	    	 Amendment and Discontinuance of the Plan
	  	 	10	  
		
	 Article II OPTIONS
	  	 	10	  
			
	 2.1
	    	 Authority
	  	 	10	  
	 2.2
	    	 Exercise Price
	  	 	10	  
	 2.3
	    	 Option Term and Conditions and Limitations on Exercise
	  	 	10	  
	 2.4
	    	 Manner of Exercise
	  	 	11	  
	 2.5
	    	 Effect of Termination Service
	  	 	11	  
	 2.6
	    	 Repurchase Rights
	  	 	12	  
	 2.7
	    	 Incentive Stock Options
	  	 	13	  
		
	 Article III STOCK APPRECIATION RIGHTS
	  	 	13	  
			
	 3.1
	    	 Authority
	  	 	13	  
	 3.2
	    	 Types
	  	 	13	  
	 3.3
	    	 Tandem Rights
	  	 	13	  
	 3.4
	    	 Stand-Alone Rights
	  	 	14	  
	 3.5
	    	 Post-Service Exercise
	  	 	15	  
		
	 Article IV STOCK AWARDS
	  	 	15	  
			
	 4.1
	    	 Authority
	  	 	15	  
	 4.2
	    	 Issue Price/Consideration
	  	 	15	  
	 4.3
	    	 Vesting Provisions
	  	 	15	  
	 4.4
	    	 Stockholder Rights
	  	 	16	  
		
	 Article V RESTRICTED STOCK UNITS
	  	 	16	  
			
	 5.1
	    	 Authority
	  	 	16	  
	 5.2
	    	 Terms
	  	 	16	  
	 5.3
	    	 Vesting Provisions
	  	 	17	  
	 5.4
	    	 Payment
	  	 	17	  
	 5.5
	    	 Dividend Rights
	  	 	17	  
		
	 Article VI PERFORMANCE UNITS
	  	 	17	  
			
	 6.1
	    	 Authority
	  	 	17	  
	 6.2
	    	 Terms
	  	 	17	  
	 6.3
	    	 Payment
	  	 	18	  
		
	 Article VII DIVIDEND EQUIVALENT RIGHTS
	  	 	18	  
			
	 7.1
	    	 Authority
	  	 	18	  

  
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	 7.2
	    	 Terms
	  	 	18	  
	 7.3
	    	 Entitlement
	  	 	18	  
	 7.4
	    	 Timing of Payment
	  	 	18	  
	 7.5
	    	 Form of Payment
	  	 	18	  
		
	 Article VIII AUTOMATIC DIRECTOR AWARD PROGRAM
	  	 	19	  
			
	 8.1
	    	 Terms and Conditions of Non-Employee Director Awards
	  	 	19	  
	 8.2
	    	 Grant of Awards
	  	 	19	  
	 8.3
	    	 Vesting of Awards
	  	 	20	  
	 8.4
	    	 Terms of Awards
	  	 	20	  
	 8.5
	    	 Change of Control
	  	 	21	  
	 8.6
	    	 Remaining Terms
	  	 	22	  
		
	 Article IX CERTAIN PROVISIONS APPLICABLE TO ALL AWARDS
	  	 	22	  
			
	 9.1
	    	 Deferred Compensation
	  	 	22	  
	 9.2
	    	 Securities Requirements
	  	 	22	  
	 9.3
	    	 Transferability
	  	 	23	  
	 9.4
	    	 No Rights as a Stockholder
	  	 	23	  
	 9.5
	    	 Listing and Registration of Shares of Common Stock
	  	 	23	  
	 9.6
	    	 Change of Control
	  	 	24	  
	 9.7
	    	 Lock-Up Agreement
	  	 	25	  
	 9.8
	    	 Stockholder Agreements/Investment Representations
	  	 	26	  
	 9.9
	    	 Exemptions from Section 16(b) Liability
	  	 	26	  
	 9.10
	    	 Repricing
	  	 	26	  
	 9.11
	    	 Excess Shares
	  	 	26	  
	 9.12
	    	 Section 409A
	  	 	27	  
		
	 Article X WITHHOLDING FOR TAXES
	  	 	27	  
		
	 Article XI MISCELLANEOUS
	  	 	27	  
			
	 11.1
	    	 No Rights to Awards or Uniformity Among Awards
	  	 	27	  
	 11.2
	    	 Rights as Employee, Director or Consultant
	  	 	27	  
	 11.3
	    	 Governing Law
	  	 	28	  
	 11.4
	    	 Gender, Tense and Headings
	  	 	28	  
	 11.5
	    	 Severability
	  	 	28	  
	 11.6
	    	 Other Laws
	  	 	28	  
	 11.7
	    	 Unfunded Obligations and Use of Proceeds
	  	 	28	  
	 11.8
	    	 No Guarantee of Tax Consequences
	  	 	28	  

 [End of Table of Contents] 

  
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 MAVENIR SYSTEMS, INC. 

2013 EQUITY INCENTIVE PLAN 
 ARTICLE I 
 INTRODUCTION 

1.1 Purpose. The Mavenir Systems, Inc. 2013 Equity Incentive Plan (the “Plan”) is intended to
promote the interests of Mavenir Systems, Inc., a Delaware corporation (the “Company”), and its stockholders by encouraging Employees, Directors and Consultants of the Company or its Affiliates (as defined below) to acquire
or increase their equity interests in the Company, thereby giving them an added incentive to work toward the continued growth and success of the Company. The Board of Directors of the Company (the “Board”) also contemplates
that through the Plan, the Company and its Affiliates will be better able to compete for the services of the individuals needed for the continued growth and success of the Company. The Plan provides for payment of various forms of incentive
compensation, and accordingly, is not intended to be a plan that is subject to the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and shall be administered accordingly. 

The Plan shall serve as the successor to the Company’s 2005 Amended and Restated Stock Plan (the “Existing
Plan”), and no further awards shall be granted under the Existing Plan after the Effective Date. All awards outstanding under the Existing Plan on the Effective Date shall continue to be governed solely by the terms of the documents
evidencing such awards, and no provision of the Plan shall be deemed to affect or otherwise modify the rights or obligations of the holders of such awards with respect to their acquisition of shares of Common Stock thereunder. 

1.2 Definitions. As used in the Plan, the following terms shall have the meanings set forth below: 

“Affiliate” means any “parent corporation” (as defined in Section 424(e) of the Code) of the
Company or any “subsidiary corporation” (as defined in Section 424(f) of the Code) of the Company. 

“Applicable Laws” means the requirements relating to the administration of equity-based awards under U.S. state
corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the Common Stock is listed or quoted and the applicable laws of any foreign country or jurisdiction where Awards are, or will be,
granted under the Plan. 
 “Award” means any of the following awards authorized under the Plan: Options,
Stock Appreciation Rights, Stock Awards, Restricted Stock Units, Performance Units and Dividend Equivalent Rights. 

“Award Agreement” means any agreement between the Company and the Participant evidencing a particular Award made
to that individual under the Plan, as such agreement may be in effect from time to time. 
 “Cause”
shall, with respect to each Award made under the Plan, be defined in accordance with the following: 
 (a) Cause shall have the
meaning assigned to such term in the Award Agreement for the particular Award or in any other agreement incorporated by reference into the Award Agreement for purposes of defining such term. 

  
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 (b) In the absence of any other Cause definition in the Award Agreement for a particular
Award (or in any other agreement incorporated by reference into the Award Agreement), an individual’s termination of Service shall be deemed to be for Cause if such termination occurs by reason his or her commission of any act of fraud,
embezzlement or dishonesty, any unauthorized use or disclosure by such person of confidential information or trade secrets of the Company (or any Affiliate of the Company), or any other intentional misconduct by such person adversely affecting the
business or affairs of the Company (or any Affiliate of the Company) in a material manner. 
 “Change of
Control” shall, with respect to each Award made under the Plan, be defined in accordance with the following provisions: 
 (a) Change of Control shall have the meaning assigned to such term in the Award Agreement for the particular Award or in any other agreement incorporated by reference into the Award Agreement for purposes
of defining such term. 
 (b) In the absence of any other Change of Control definition in the Award Agreement (or in any other
agreement incorporated by reference into the Award Agreement), Change of Control shall mean a change in ownership or control of the Company effected through any of the following transactions: 

(i) the closing of a merger, consolidation or other reorganization approved by the Company’s stockholders in which a change in
ownership or control of the Company is effected through the acquisition by any person or group of persons comprising a “group” within the meaning of Rule 13d-5(b)(1) of the Exchange Act (other than the Company or a person that, prior to
such transaction, directly or indirectly controls, is controlled by or is under common control with, the Company) of beneficial ownership (within the meaning of Rule 13d-3 of the Exchange Act) of securities possessing more than fifty percent
(50%) of the total combined voting power of the Company’s outstanding securities (as measured in terms of the power to vote with respect to the election of Board members); 

(ii) the closing of a sale, transfer or other disposition of all or substantially all of the Company’s assets; 

(iii) the closing of any transaction or series of related transactions pursuant to which any person or any group of persons comprising a
“group” within the meaning of Rule 13d-5(b)(1) of the Exchange Act (other than the Company or a person that, prior to such transaction or series of related transactions, directly or indirectly controls, is controlled by or is under common
control with, the Company) acquires directly or indirectly (whether as a result of a single acquisition or by reason of one or more acquisitions within the twelve (12)-month period ending with the most recent acquisition) beneficial ownership
(within the meaning of Rule 13d-3 of the Exchange Act) of securities possessing more than fifty percent (50%) of the total combined voting power of the Company’s securities (as measured in terms of the power to vote with respect to the
election of Board members) outstanding immediately after the consummation 

  
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of such transaction or series of related transactions, whether such transaction involves a direct issuance from the Company or the acquisition of outstanding securities held by one or more of the
Company’s existing stockholders; or 
 (iv) a change in the composition of the Board over a period of thirty-six
(36) consecutive months or less such that a majority of the Board members ceases by reason of one or more contested elections for Board membership to be comprised of individuals who either (A) have been Board members continuously since the
beginning of such period or (B) have been elected or nominated for election as Board members during such period by at least a majority of the Board members described in clause (A) who were still in office at the time the Board approved
such election or nomination. 
 Notwithstanding the foregoing, in no event will the issuance of shares in connection with an IPO
be deemed to be a Change of Control. 
 “Code” means the Internal Revenue Code of 1986, as
amended from time to time, and the rules and regulations thereunder. 
 “Committee” means
a committee of Directors or of other individuals satisfying Applicable Laws appointed by the Board, or a duly authorized committee of the Board, in accordance with Section 1.4 hereof. 

“Common Stock” means the common stock, par value $0.001 per share, of the Company. 

“Company” means the corporation described in Section 1.1 or any successor thereto which
assumes and continues the Plan. 
 “Consultant” means any consultant or other independent
advisor, who renders services to the Company or an Affiliate of the Company. 
 “Director”
means a member of the Board or the board of directors of an Affiliate of the Company. 
 “Effective
Date” means, with respect to the Plan, the date that the Plan is adopted by the Board subject to approval by the stockholders of the Company prior to the Underwriting Date. 

“Employee” means any employee of the Company or an Affiliate of the Company, including any such
employee who is an officer or director of the Company or an Affiliate of the Company. 

“Employment” includes any period in which a Participant is an Employee of the Company or an
Affiliate of the Company. 
 “Exchange Act” means the Securities Exchange Act of 1934, as
amended. 
 “Fair Market Value” or “FMV Per Share” on any relevant
date shall be determined in accordance with the following provisions: 
 (i) If the Common Stock is at the time listed on any
Stock Exchange or a national market system, then the Fair Market Value shall be the closing selling price per share of Common Stock on the date in question, as such price is quoted on such exchange or system on the day of determination, as reported
in The Wall Street Journal (or other reporting service approved by the Plan Administrator). If there is no closing selling price for the Common Stock on the date in question, then the Fair Market Value shall be the closing selling price on
the last preceding date for which such quotation exists. 

  
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 (ii) If the Common Stock is regularly quoted by a recognized securities dealer but selling
prices are not reported, the Fair Market Value shall be the mean between the high bid and low asked prices for the Common Stock on the day of determination (or, if no bids and asks were reported on that date, as applicable, on the last trading date
such bids and asks were reported), as reported in The Wall Street Journal (or other reporting service approved by the Plan Administrator). If there is no closing selling price for the Common Stock on the date in question, then the Fair Market
Value shall be the closing selling price on the last preceding date for which such quotation exists. 
 (iii) With respect to
any Awards granted on or as of or priced on or as of the Underwriting Date (including, but not limited to, the IPO Awards (as defined in Section 8.2(a) below)), the Fair Market Value will be deemed to be equal to the established IPO
price per share. 
 (iv) If there is no established market for the Common Stock, then the Fair Market Value shall be determined
in good faith by the Plan Administrator. 
 “Family Member” means, with respect to a particular
Participant, any child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law or sister-in-law. 

“Good Reason” shall, with respect to each Award made under the Plan, be defined in accordance with the following
provisions: 
 (a) Good Reason shall have the meaning assigned to such term in the Award Agreement for the particular Award or
in any other agreement incorporated by reference into the Award Agreement for purposes of defining such term. 
 (b) In the
absence of any other Good Reason definition in the Award Agreement (or in any other agreement incorporated by reference into the Award Agreement), Good Reason shall mean an individual’s voluntary resignation following 

(i) a material reduction in the scope of the duties, responsibilities and authority of his or her position with the Company (or any
Affiliate of the Company), it being understood that a change in such individual’s title shall not, in and of itself, be deemed a material reduction; 
 (ii) a materially adverse change in his or her reporting requirements so that such individual is required to report to a person whose duties, responsibilities and authority are materially less than the
person to whom he or she previously reported; 

  
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 (iii) a material reduction in such individual’s base salary or the aggregate of his or
her base salary and target bonus under any corporate-performance based bonus or incentive programs, with a reduction of fifteen percent (15%) or more to his or her base salary or aggregate base salary and target bonus to be deemed a material
reduction; or 
 (iv) a relocation of such individual’s place of employment by more than fifty (50) miles;

 provided and only if such change, reduction or relocation is effected by the Company (or any Affiliate of the Company)
without the individual’s consent. 
 “Incentive Stock Option” means any Option that
satisfies the requirements of Code Section 422. 
 “Involuntary Termination” means
the termination of the Service of any individual which occurs by reason of: 
 (a) such individual’s involuntary dismissal
or discharge by the Company (or any Affiliate of the Company) for reasons other than for Cause; or 
 (b) such individual’s
voluntary resignation for Good Reason. 
 “IPO” means a bona fide initial public offering of the
Company’s Common Stock registered under the Securities Act of 1933, as amended. 
 “Non-Employee
Director” means a person who is a non-employee member of the Board. 
 “Non-Qualified
Option” means an Option not intended to satisfy the requirements of Code Section 422. 

“Option” means an option to acquire Common Stock granted pursuant to Article II of the Plan,
and refers to either an Incentive Stock Option or a Non-Qualified Option, or both, as applicable. 

“Participant” means any Employee, Director or Consultant granted an Award under the Plan.

 “Permanent Disability” means the inability of the Participant to engage in any
substantial gainful activity by reason of any medically determinable physical or mental impairment expected to result in death or to be of continuous duration of twelve (12) months or more. 

“Plan Administrator” means the particular entity, whether one or more Committees or the Board, which is
authorized to administer the Plan with respect to one or more classes of eligible persons, to the extent such entity is carrying out its administrative functions under the Plan with respect to the persons under its jurisdiction. 

“Restricted Stock Unit” means the right to receive a share of Common Stock or cash granted pursuant to Article
V of the Plan. 

  
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 “Section 16 Insider” means an officer or director of the Company
subject to the short-swing profit liabilities of Section 16 of the Exchange Act. 
 “Service” means
the performance of services for the Company or an Affiliate of the Company by a person in the capacity of an Employee, a Director or a Consultant, except to the extent otherwise specifically provided in the Award Agreement. For purposes of the Plan,
a Participant shall be deemed to cease Service immediately upon the occurrence of either of the following events: (i) the Participant no longer performs services in any of the foregoing capacities for the Company or any Affiliate of the Company
or (ii) the entity for which the Participant is performing such services ceases to remain an Affiliate of the Company, even though the Participant may subsequently continue to perform services for that entity. Service shall not be deemed to
cease during a period of military leave, sick leave or other personal leave approved by the Company; provided, however, that should such leave of absence exceed three (3) months, then for purposes of determining the period within which
an Incentive Stock Option may be exercised as such under the federal tax laws, the Participant’s Service shall be deemed to cease on the first day immediately following the expiration of such three (3)-month period, unless the Participant is
provided with the right to return to Service following such leave either by statute or by written contract. Except to the extent otherwise required by law or expressly authorized by the Plan Administrator or by the Company’s written policy on
leaves of absence, no Service credit shall be given for vesting purposes for any period the Participant is on a leave of absence. 
 “Stock Exchange” means the Nasdaq Global Market, the Nasdaq Global Select Market, the Nasdaq Capital Market, the New York Stock Exchange or the NYSE MKT. 

“Underwriting Agreement” means the agreement between the Company and the underwriter or underwriters managing the
IPO. 
 “Underwriting Date” means the date on which the Underwriting Agreement is executed and priced in
connection with IPO. 
 “Withholding Taxes” means the applicable federal, state and foreign income and
employment withholding taxes and other payments to which the holder of an Award under the Plan may become subject in connection with the issuance, exercise, vesting or settlement of that Award. 

1.3 Shares Subject to the Plan. 
 (a) Authorized Shares. The stock issuable under the Plan shall be shares of authorized, but unissued, or reacquired Common Stock, including shares repurchased by the Company on the open
market. The maximum number of shares of Common Stock that may initially be issued under the Plan shall be 13,200,000 shares, subject to adjustment under Section 1.3(f) below. Such share reserve consists of (1) any shares of Common
Stock that, as of the Effective Date, have been reserved but not issued pursuant to any awards granted under the Existing Plan and are not subject to any awards granted thereunder, plus (ii) an additional increase of 11,478,184 shares. To the
extent that any stock options outstanding under the Existing Plan on the Effective Date expire or otherwise terminate without having been exercised in full or should shares of Common Stock pursuant to awards granted under the Existing Plan be

  
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forfeited to or repurchased by the Company, the number of shares of Common Stock subject to those expired or terminated options at the time of expiration or termination and the number of shares
of Common Stock forfeited or repurchased shall be added to the share reserve under this Plan and shall accordingly be available for issuance hereunder, up to a maximum of an additional 18,912,429 shares. 

(b) Annual Increase. The number of shares available for issuance under the Plan shall automatically
increase on January 1st of each calendar year during
the term of the Plan, commencing on January 1, 2014, by (i) an amount (the “Annual Increase Amount”) equal to the lesser of (A) four and one-half percent (4.5%) of the total number of shares of Common
Stock outstanding on the last trading day in December of the immediately preceding calendar year and (B) 20,000,000 shares (subject to adjustment under Section 1.3(f) below); or (ii) such other amount that is lower than the
lesser of the amount determined by the preceding clauses (A)(i) and (ii) that the Board, in its sole discretion (but without any obligation), may determine shall be the Annual Increase Amount with respect to any applicable annual period.

 (c) Limitation on Incentive Stock Options. Notwithstanding any provision of the Plan to the contrary, and
subject to Section 1.3(f) below, the maximum number of shares of Common Stock that may be issued under the Plan pursuant to the exercise of Incentive Stock Options is 32,112,429. Such share limitation shall automatically be increased on
January 1st of each calendar year, beginning on January 1, 2014, by the number of shares of Common Stock added to the share reserve on that day pursuant to the provisions of Section 1.3(b). 

(d) Limitation on Number of Shares Subject to Awards. The maximum aggregate number of shares of Common Stock with respect
to one or more Options and Stock Appreciation Rights that may be granted to any one Participant during any calendar year shall be 8,000,000 shares. The maximum aggregate number of shares of Common Stock with respect to which one or more other Awards
that may be granted to any one Participant during any calendar year shall be 8,000,000 shares. 
 (e) Shares
Returned. Shares of Common Stock subject to outstanding Awards under the Plan shall be available for subsequent award and issuance under the Plan to the extent those Awards expire, are forfeited or cancelled or terminate for any reason prior
to the issuance of the shares of Common Stock subject to those Awards. Unvested shares issued under the Plan and subsequently forfeited or repurchased by the Company, at a price per share not greater than the original issue price paid per share,
pursuant to the Company’s repurchase rights under the Plan shall be added back to the number of shares of Common Stock reserved for issuance under the Plan and shall accordingly be available for subsequent reissuance. Should the exercise price
of an Option under the Plan be paid with shares of Common Stock (whether through the withholding of a portion of the otherwise issuable shares or through the tender of actual outstanding shares), then the authorized reserve of Common Stock under the
Plan shall be reduced by the net number of shares issued under the exercised Option and not the gross number of shares for which that Option is exercised. Upon the exercise of any Stock Appreciation Right under the Plan, the share reserve shall be
reduced by net number of shares actually issued by the Company upon such exercise and not the gross number of shares as to which such right is exercised. If shares of Common Stock otherwise issuable under the Plan are withheld by the Company in
satisfaction of the Withholding Taxes incurred in connection with the issuance, vesting or settlement of an Award, then the number of shares of Common Stock available for issuance under the Plan shall be reduced on the basis of the net number of
shares issued, vested or settled under the Award, calculated in each instance after any such share withholding. 

  
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 (f) Share Adjustments. Should any change be made to the Common Stock by reason
of any stock split, stock dividend, recapitalization, combination of shares, exchange of shares, spin-off transaction or other change affecting the outstanding Common Stock as a class without the Company’s receipt of consideration, or should
the value of outstanding shares of Common Stock be substantially reduced as a result of a spin-off transaction or an extraordinary dividend or distribution, or should there occur any merger, consolidation or other reorganization (including, without
limitation, a Change of Control transaction), then equitable adjustments shall be made by the Plan Administrator to (i) the maximum number and/or class of securities issuable under the Plan; (ii) the maximum number and class of securities
by which the share reserve is to increase automatically each calendar year pursuant to the provisions of Section 1.3(b); (iii) the maximum number and/or class of securities that may be issued under the Plan pursuant to Incentive
Stock Options and the maximum number and/or class of securities by which that limitation will automatically increase each calendar year; (iv) the maximum number and/or class of securities for which any one person may be granted Options and
Stock Appreciation Rights or other Awards denominated in shares of Common Stock per calendar year; (v) the number and/or class of securities and the base price or purchase price per share (if any) in effect under each outstanding Award; and
(vi) the number and/or class of securities subject to the Company’s outstanding repurchase rights under the Plan and the repurchase price payable per share. The adjustments shall be made in such manner as the Plan Administrator deems
appropriate and such adjustments shall be final, binding and conclusive. 
 1.4 Administration of the Plan. To the
extent that the Plan Administrator determines it to be desirable to qualify Awards granted hereunder as “performance-based compensation” within the meaning of Section 162(m) of the Code, the Plan will be administered by a Committee of
two (2) or more “outside directors” within the meaning of Code Section 162(m). To the extent desirable to qualify transactions hereunder as exempt under Rule 16b-3 under the Exchange Act, the transactions contemplated hereunder
will be structured to satisfy the requirements for exemption under Rule 16b-3. Different Committees may administer the Plan with respect to different groups of Participants. Other than as provided above, administration of the Plan may, at the
Board’s discretion, be vested in one or more Committees or the Board may retain the power to administer the Plan. In addition to any other powers set forth in the Plan and subject to the provisions of the Plan and the authorities delegated by
the Board, the Plan Administrator shall have the full and final power and authority within the scope of its administrative functions under the Plan, in its discretion: 
 (a) to interpret the Plan and all Awards under the Plan; 
 (b) to make, amend and
rescind such rules as it deems necessary for the proper administration of the Plan; 
 (c) to make all other determinations
necessary or advisable for the administration of the Plan; 

  
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 (d) to correct any defect or supply any omission or reconcile any inconsistency in the Plan
or in any Award under the Plan in the manner and to the extent that the Plan Administrator deems desirable to effectuate the Plan; 
 (e) to determine the persons to whom, and the time or times at which, Awards shall be granted and the number of shares of Common Stock to be subject to each Award; 

(f) to determine the type of Award granted and to designate Options as Incentive Stock Options or Non-Qualified Options; 

(g) to determine the Fair Market Value of shares of Common Stock or other property; 

(h) to determine the terms, conditions and restrictions applicable to each Award (which need not be identical) and any shares acquired
pursuant thereto, including, without limitation, (i) the exercise or purchase price of shares purchased pursuant to any Award; (ii) the method of payment for shares purchased pursuant to any Award; (iii) the method for satisfaction of
any Withholding Tax obligation arising in connection with Award, including by the withholding or delivery of shares of Common Stock; (iv) the timing, terms and conditions of the exercisability or vesting of any Award or any shares acquired
pursuant thereto; (v) the time of the expiration of any Award; (vi) the effect of the Participant’s termination of Service on any of the foregoing; and (vii) all other terms, conditions and restrictions applicable to any Award or
shares acquired pursuant thereto not inconsistent with the terms of the Plan; 
 (i) to determine whether an Award will be
settled in shares of stock, cash, or in any combination thereof; 
 (j) to approve one or more forms of Award Agreements;

 (k) to amend, modify, extend, cancel or renew any Award or to waive any restrictions or conditions applicable to any Award or
any shares acquired pursuant thereto; 
 (l) to accelerate, continue, extend or defer the exercisability or vesting of any Award
or any shares acquired pursuant thereto, including with respect to the period following a Participant’s termination of Service; and 
 (m) to prescribe, amend or rescind rules, guidelines and policies relating to the Plan, or to adopt sub-plans, addenda or supplements to the Plan, as the Plan Administrator deems necessary or desirable to
comply with the laws and regulations of or to accommodate the laws, regulations, tax or accounting effectiveness, accounting principles or custom of, or to obtain favorable tax treatment in foreign jurisdictions whose residents may be granted
Awards. 
 The Board may also at any time terminate the functions of any Committee with respect to the Plan and reassume all
powers and authority with respect to the Plan previously delegated to such Committee. Any action taken or determination made by the Plan Administrator pursuant to this and the other sections of the Plan shall be final, binding and conclusive on all
affected persons, including, without limitation, the Company, any of its Affiliates, any grantee, holder or beneficiary of an Award, any stockholder and any Employee, Director or Consultant. 

  
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 1.5 Granting of Awards to Participants. The Plan Administrator shall have the
authority to grant, prior to the expiration date of the Plan, Awards to such Employees, Directors and Consultants as may be selected by it, subject to the terms and conditions set forth in the Plan. In selecting the persons to receive Awards,
including the type and size of the Award, the Plan Administrator may consider the contribution the recipient has made and/or may make to the growth of the Company or its Affiliates and any other factors that it may deem relevant. In no event shall
any Employee, Director or Consultant, nor his, her or its legal representatives, heirs, legatees, distributees or successors have any right to participate in the Plan, except to such extent, if any, as permitted under the Plan and as the Plan
Administrator may determine. 
 1.6 Term of Plan. If not sooner terminated under the provisions of
Section 1.7, the Plan shall terminate upon, and no further Awards shall be made, after ten (10) years following the Effective Date. 
 1.7 Amendment and Discontinuance of the Plan. The Board may amend, suspend or terminate the Plan at any time without prior notice to or consent of any person; provided, however, that
subject to Article IX, no amendment, suspension or termination of the Plan may without the consent of the holder of an Award, terminate such Award or adversely affect such person’s rights with respect to such Award in any material
respect unless or to the extent specified in the Award itself; and provided further that, no amendment shall be effective prior to its approval by the stockholders of the Company, to the extent such approval is required by Applicable Laws.
Notwithstanding the foregoing, the Board may amend the Plan or any Award in such manner as it deems necessary in order to permit Awards to meet the requirements of Applicable Laws, or to prevent adverse tax consequences to the Participants.

 ARTICLE II 
 OPTIONS 
 2.1 Authority. The Plan Administrator may grant
Options to purchase shares of Common Stock to any Employee, Director and Consultant according to the terms set forth below. Options shall be in such form as the Plan Administrator may from time to time approve, shall be subject to the following
terms and conditions and may contain such additional terms and conditions, not inconsistent with this Article II, as the Plan Administrator shall deem desirable. Each Option granted under the Plan shall be evidenced by a written agreement
between the Company and the individual to whom such Option was granted in such form as the Plan Administrator shall provide. 

2.2 Exercise Price. The exercise price to be paid for each share of Common Stock deliverable upon exercise of each Option
granted under this Article II shall not be less than one hundred percent (100%) of the FMV Per Share on the date of grant of such Option. 
 2.3 Option Term and Conditions and Limitations on Exercise. Each Option shall be exercisable at such time or times, during such period and for such number of shares as shall be determined by
the Plan Administrator and set forth in the documents evidencing the Option. However, no Option shall have a term in excess of ten (10) years measured from the Option grant date. The Plan Administrator shall also have the discretionary
authority to structure one or more Options so that those Options shall vest and become exercisable only after the achievement of pre-established corporate performance objectives based on one or more performance goals and measured over the
performance period specified by the Plan Administrator at the time of grant of the Option. 

  
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 2.4 Manner of Exercise. In order to exercise an Option, the person or persons
entitled to exercise such Option shall deliver to the Company payment in full for (i) the shares being purchased; and (ii) unless other arrangements have been made with the Plan Administrator, any required Withholding Taxes. The payment of
the exercise price for each Option shall, subject to the terms of the Award Agreement, be made in one or more of the forms specified below: 
 (a) in cash or by certified check payable and acceptable to the Company; 
 (b)
with a promissory note, to the extent permitted by Applicable Laws; 
 (c) in shares of Common Stock (whether delivered in the
form of actual stock certificates or through attestation of ownership) held for the requisite period (if any) necessary to avoid any resulting charge to the Company’s earnings for financial reporting purposes and valued at Fair Market Value on
the date of exercise; 
 (d) to the extent the option is exercised for vested shares following the IPO, through a special sale
and remittance procedure pursuant to which the Optionee shall concurrently provide instructions to (i) a brokerage firm (reasonably satisfactory to the Company for purposes of administering such procedure in compliance with the Company’s
pre-clearance/pre-notification policies) to effect the immediate sale of the purchased shares and remit to the Company, out of the sale proceeds available on the settlement date, sufficient funds to cover the aggregate exercise price payable for the
purchased shares plus all applicable Withholding Taxes; and (ii) the Company to deliver the certificates for the purchased shares directly to such brokerage firm on such settlement date in order to complete the sale; 

(e) subject to such conditions and requirements as the Plan Administrator may specify, by the Company’s withholding from shares
otherwise deliverable pursuant to the exercise of the Option shares of Common Stock with such withheld shares valued at Fair Market Value as of the date of exercise; or 
 (f) with such other consideration and method of payment for the issuance of Common Stock to the extent permitted by Applicable Laws. 

2.5 Effect of Termination Service 
 (a) The following provisions shall govern the exercise of any Options that are outstanding at the time of the Participant’s cessation of Service or death: 

(i) Any Option outstanding at the time of the Participant’s cessation of Service for any reason shall remain exercisable for such
period of time thereafter as shall be determined by the Plan Administrator and set forth in the Award Agreement, but no such Option shall be exercisable after the expiration of the option term. 

(ii) Any Option held by the Participant at the time of the Participant’s death and exercisable in whole or in part at that time may
be subsequently exercised by the 

  
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personal representative of the Participant’s estate or by the person or persons to whom the Option is transferred pursuant to the Participant’s will or the laws of inheritance or by the
Participant’s designated beneficiary or beneficiaries of that Option. 
 (iii) Should the Participant’s Service be
terminated for Cause or should the Participant otherwise engage in conduct constituting grounds for a termination for Cause while holding one or more outstanding Options, then all of those Options shall terminate immediately and cease to be
outstanding. 
 (iv) During the applicable post-Service exercise period, the Option may not be exercised in the aggregate for
more than the number of vested shares for which the Option is at the time exercisable; provided, however, that one or more Options may be structured so that those Options will continue to vest in whole or part during the applicable
post-Service exercise period. Upon the expiration of the applicable exercise period or (if earlier) upon the expiration of the Option term, the Option shall terminate and cease to be outstanding for any shares for which the Option has not been
exercised. 
 (b) Nothwithstanding the foregoing, the Plan Administrator shall have complete discretion, exercisable either at
the time an Option is granted or at any time while the Option remains outstanding, to: 
 (i) extend the period of time for
which the Option is to remain exercisable following the Optionee’s cessation of Service from the limited exercise period otherwise in effect for that Option to such greater period of time as the Plan Administrator shall deem appropriate, but in
no event beyond the expiration of the Option term, 
 (ii) include an automatic extension provision whereby the specified
post-Service exercise period in effect for any Option granted shall automatically be extended by an additional period of time equal in duration to any interval within the specified post-Service exercise period during which the exercise of that
Option or the immediate sale of the shares acquired under such option could not be effected in compliance with the applicable registration requirements of federal and state securities laws, but in no event shall such an extension result in the
continuation of such Option beyond the expiration date of the term of that option, and/or 
 (iii) permit the Option to be
exercised, during the applicable post-Service exercise period, not only with respect to the number of vested shares of Common Stock for which such Option is exercisable at the time of the Participant’s cessation of Service but also with respect
to one or more additional installments in which the Participant would have vested had the Participant continued in Service. 

2.6 Repurchase Rights. The Plan Administrator shall have the discretion to grant Options which are exercisable for unvested
shares of Common Stock. Should the Participant cease Service while such shares are unvested, the Company shall have the right to repurchase any or all of those unvested shares at a price per share equal to the lower of (i) the exercise price
paid per share; or (ii) the Fair Market Value per share of Common Stock at the time of repurchase. The terms upon which such repurchase right shall be exercisable (including the period and procedure for exercise and the appropriate vesting
schedule for the purchased shares) shall be established by the Plan Administrator and set forth in the document evidencing such repurchase right. 

  
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 2.7 Incentive Stock Options. The terms specified in this
Section 2.7 shall be applicable to all Incentive Stock Options. Except as modified by the provisions of this Section 2.7, all the provisions of Article II shall be applicable to Incentive Stock Options. Options which
are specifically designated as Non-Qualified Options shall not be subject to the terms of this Section 2.7. 
 (a)
Incentive Stock Options may only be granted to Employees of the Company or its Affiliates. 
 (b) The aggregate Fair Market
Value (determined as of the respective date or dates of grant) of shares of Common Stock for which one or more Options granted to any Employee under the Plan (or any other option plan of the Company or any Affiliate of the Company) may for the first
time become exercisable as Incentive Stock Options during any one (1) calendar year shall not exceed the sum of $100,000. To the extent the Employee holds two (2) or more such Options which become exercisable for the first time in the same
calendar year, the foregoing limitation on the exercisability of such Options as Incentive Stock Options shall be applied on the basis of the order in which such Options are granted. 

(c) If any Employee to whom an Incentive Stock Option is granted owns stock possessing more than ten percent (10%) of the total
combined voting power of all classes of stock of the Company or any Affiliate of the Company, then the exercise price per share under such Incentive Stock Option shall not be less than one hundred ten percent (110%) of the FMV Per Share on the
date of grant, and the Option term shall not exceed five (5) years measured from the date of grant. For purposes of the immediately preceding sentence, the attribution rules under Section 424(d) of the Code shall apply for purposes of
determining an Employee’s ownership. 
 ARTICLE III 

STOCK APPRECIATION RIGHTS 
 3.1 Authority. The Plan Administrator shall have full power and authority, exercisable in its sole discretion, to grant Stock Appreciation Rights evidenced by one or more Award Agreements in
the form approved by the Plan Administrator; provided, however, that each such agreement shall comply with the terms specified below. 
 3.2 Types. Two types of Stock Appreciation Rights shall be authorized for issuance under this Article III: (i) tandem stock appreciation rights (“Tandem
Rights”) and (ii) stand-alone stock appreciation rights (“Stand-alone Rights”). 
 3.3
Tandem Rights. The following terms and conditions shall govern the grant and exercise of Tandem Rights. 
 (a) One
or more individuals may be granted a Tandem Right, exercisable upon such terms and conditions as the Plan Administrator may establish, to elect between the exercise of the underlying Option for shares of Common Stock or the surrender of that Option
in exchange for a distribution from the Company in an amount equal to the excess of (i) the Fair 

  
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Market Value (on the Option surrender date) of the number of shares in which the Participant is at the time vested under the surrendered option (or surrendered portion thereof) over (ii) the
aggregate exercise price payable for such vested shares. 
 (b) Any distribution to which the Participant becomes entitled upon
the exercise of a Tandem Right may be made in (i) shares of Common Stock valued at Fair Market Value on the Option surrender date; (ii) cash; or (iii) a combination of cash and shares of Common Stock, as specified in the applicable
Award Agreement. 
 3.4 Stand-Alone Rights. The following terms and conditions shall govern the grant and exercise
of Stand-alone Rights: 
 (a) One or more individuals may be granted a Stand-alone Right not tied to any underlying Option. The
Stand-alone Right shall relate to a specified number of shares of Common Stock and shall be exercisable upon such terms and conditions as the Plan Administrator may establish. In no event, however, may the Stand-alone Right have a maximum term in
excess of ten (10) years measured from the grant date. 
 (b) Upon exercise of the Stand-alone Right, the holder shall be
entitled to receive a distribution from the Company in an amount equal to the excess of (i) the aggregate Fair Market Value (on the exercise date) of the shares of Common Stock underlying the exercised right over (ii) the aggregate base
price in effect for those shares. 
 (c) The number of shares of Common Stock underlying each Stand-alone Right and the base
price in effect for those shares shall be determined by the Plan Administrator in its sole discretion at the time the Stand-alone Right is granted. In no event, however, may the base price per share be less than the Fair Market Value per underlying
share of Common Stock on the grant date. 
 (d) Stand-alone Rights shall be subject to the same transferability restrictions
applicable to Non-Qualified Options and may not be transferred during the holder’s lifetime, except for a gratuitous transfer to one or more Family Members of the holder or to a trust established for the holder and/or one or more such Family
Members or a transfer to one or more such Family Members pursuant to a domestic relations order covering the Stand-alone Right as marital property. In addition, one or more beneficiaries may be designated for an outstanding Stand-alone Right in
accordance with substantially the same terms and provisions as set forth in Section 9.3(c). 
 (e) The distribution
with respect to an exercised Stand-alone Right may be made in (i) shares of Common Stock valued at Fair Market Value on the exercise date; (ii) cash; or (iii) a combination of cash and shares of Common Stock, as specified in the
applicable Award Agreement. 
 (f) The holder of a Stand-alone Right shall have no stockholder rights with respect to the shares
subject to the Stand-alone Right unless and until such person shall have exercised the Stand-alone Right and become a holder of record of the shares of Common Stock issued upon the exercise of such Stand-alone Right. 

  
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 3.5 Post-Service Exercise. The provisions governing the exercise of Tandem and
Stand-alone Rights following the cessation of the Participant’s Service shall be substantially the same as those set forth in Section 2.5 for the Options granted under the Plan, and the Plan Administrator’s discretionary
authority under Section 2.5 shall also extend to any outstanding Tandem or Stand-alone Appreciation Rights. 

ARTICLE IV 

STOCK AWARDS 
 4.1 Authority. The Plan Administrator shall have full power and authority, exercisable in its sole discretion, to grant Stock Awards either as vested or unvested shares of Common Stock,
through direct and immediate issuances. Each Stock Award shall be evidenced by one or more Award Agreements in the form approved by the Plan Administrator; provided, however, that each such agreement shall comply with the terms specified below.

 4.2 Issue Price/Consideration. 
 (a) Shares of Common Stock may be issued under a Stock Award for a price per share fixed by the Plan Administrator at the time of the Award, but in no event shall such issue price be less than one hundred
percent (100%) of the Fair Market Value per share of Common Stock on the Award date. 
 (b) Shares of Common Stock may be
issued under a Stock Award for any of the following items of consideration which the Plan Administrator may deem appropriate in each individual instance: 
 (i) cash or check made payable to the Company; 
 (ii) past services rendered or
to be rendered the Company (or any Affiliate of the Company); or 
 (iii) any other valid consideration under the State in
which the Company is at the time incorporated. 
 4.3 Vesting Provisions. 

(a) Stock Awards may, in the discretion of the Plan Administrator, be fully and immediately vested upon issuance as a bonus for Service
rendered or may vest in one or more installments over the Participant’s period of Service and/or upon the attainment of specified performance objectives. The elements of the vesting schedule applicable to any stock award shall be determined by
the Plan Administrator and incorporated into the Award Agreement. 
 (b) Should the Participant cease to remain in Service while
holding one or more unvested shares of Common Stock issued under a Stock Award or should the performance objectives not be attained with respect to one or more such unvested shares of Common Stock, then those shares shall be immediately surrendered
to the Company for cancellation, and the Participant shall have no further stockholder rights with respect to those shares. To the extent the surrendered shares were previously issued to the Participant for consideration paid in cash or

  
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cash equivalent, the Company shall repay to the Participant the lower of (i) the cash consideration paid for the surrendered shares; or (ii) the Fair Market Value of those shares
at the time of cancellation. 
 (c) The Plan Administrator may in its discretion waive the surrender and cancellation of one or
more unvested shares of Common Stock which would otherwise occur upon the cessation of the Participant’s Service or the non-attainment of the performance objectives applicable to those shares. Any such waiver shall result in the immediate
vesting of the Participant’s interest in the shares of Common Stock as to which the waiver applies. Such waiver may be effected at any time, whether before or after the Participant’s cessation of Service or the attainment or non-attainment
of the applicable performance objectives. 
 (d) Any new, substituted or additional securities or other property (including
money paid other than as a regular cash dividend) which the Participant may have the right to receive with respect to the Participant’s unvested shares of Common Stock by reason of any stock dividend, stock split, recapitalization, combination
of shares, exchange of shares, spin-off transaction, extraordinary dividend or distribution or other change affecting the outstanding Common Stock as a class without the Company’s receipt of consideration shall be issued subject to (i) the
same vesting requirements applicable to the Participant’s unvested shares of Common Stock; and (ii) such escrow arrangements as the Plan Administrator shall deem appropriate, unless and to the extent the Plan Administrator determines at
the time to vest and distribute such securities or other property. Equitable adjustments to reflect each such transaction shall also be made by the Plan Administrator to the repurchase price payable per share by the Company for any unvested
securities subject to its existing repurchase rights under the Plan; provided the aggregate repurchase price shall in each instance remain the same. 
 4.4 Stockholder Rights. The Participant shall have full stockholder rights with respect to any shares of Common Stock issued to the Participant under a Stock Award, whether or not the
Participant’s interest in those shares is vested. Accordingly, the Participant shall have the right to vote such shares and to receive any dividends paid on such shares, subject to any applicable vesting requirements. 

ARTICLE V 

RESTRICTED STOCK UNITS 
 5.1 Authority. The Plan Administrator shall have the full power and authority, exercisable in its sole discretion, to grant Restricted Stock Units evidenced by one or more Award Agreements
in the form approved by the Plan Administrator; provided, however, that each such agreement shall comply with the terms specified below. 
 5.2 Terms. Each Restricted Stock Unit award shall entitle the Participant to receive the shares underlying that Award (or an amount based on the value of the shares) upon vesting or upon the
expiration of a designated time period following the vesting of those Awards. Restricted Stock Units subject to performance vesting may also be structured so that the underlying shares are convertible into shares of Common Stock (or a payment based
on the value of the shares), but the rate at which each share is to so convert shall be based on the attained level of performance for each applicable performance objective. 

  
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 5.3 Vesting Provisions. Restricted Stock Units may, in the discretion of the
Plan Administrator, vest in one or more installments over the Participant’s period of Service or upon the attainment of specified performance objectives. Outstanding Restricted Stock Units shall automatically terminate without any payment if
the performance goals or Service requirements established for those Awards are not attained or satisfied. The Plan Administrator, however, shall have the discretionary authority to make a payment under one or more outstanding Awards of Restricted
Stock Units as to which the designated performance goals or Service requirements have not been attained or satisfied. 
 5.4
Payment. Restricted Stock Units that vest may be settled in (i) cash; (ii) shares of Common stock valued at Fair Market Value on the payment date; or (iii) a combination of cash and shares of Common Stock, as determined
by the Plan Administrator in its sole discretion. 
 5.5 Dividend Rights. The Participant shall not have any
stockholder rights with respect to the shares of Common Stock subject to a Restricted Stock Unit award until that award vests and the shares of Common Stock are actually issued thereunder. However, dividend-equivalent units may be paid or credited,
either in cash or in actual or phantom shares of Common Stock, on outstanding Restricted Stock Unit awards, subject to such terms and conditions as the Plan Administrator may deem appropriate. 

ARTICLE VI 

PERFORMANCE UNITS 
 6.1 Authority. The Plan Administrator shall have the full power and authority, exercisable in its sole discretion, to grant Performance Units evidenced by one or more Award Agreements in the
form approved by the Plan Administrator; provided, however, that each such agreement shall comply with the terms specified below. 
 6.2 Terms. 
 (a) A performance unit shall represent either
(i) a unit with a dollar value tied to the level at which pre-established corporate performance objectives based on one or more performance goals are attained; or (ii) a participating interest in a special bonus pool tied to the attainment
of pre-established corporate performance objectives based on one or more performance goals. The amount of the bonus pool may vary with the level at which the applicable performance objectives are attained, and the value of each performance unit
which becomes due and payable upon the attained level of performance shall be determined by dividing the amount of the resulting bonus pool (if any) by the total number of performance units issued and outstanding at the completion of the applicable
performance period. 
 (b) Performance Units may also be structured to include a Service requirement which the Participant must
satisfy following the completion of the performance period in order to vest in the Performance Units awarded with respect to that performance period. 
 (c) Outstanding Performance Units shall automatically terminate, and no payment shall actually be made in satisfaction of those Awards, if the performance goals or Service requirements established for
those Awards are not attained or satisfied. The Plan Administrator, however, shall have the discretionary authority to make a payment under one or more outstanding Awards of performance units as to which the designated performance goals or any
applicable Service requirements have not been attained or satisfied. 

  
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 6.3 Payment. Performance Units which become due and payable following the
attainment of the applicable performance objectives and the satisfaction of any applicable Service requirement may be paid in (i) cash; (ii) shares of Common Stock valued at Fair Market Value on the payment date; or (iii) a
combination of cash and shares of Common Stock, as determined by the Plan Administrator. 
 ARTICLE VII 

DIVIDEND EQUIVALENT RIGHTS 
 7.1 Authority. The Plan Administrator shall have full power and authority to grant Dividend Equivalent Rights evidenced by one or more Award Agreements in the form approved by the Plan
Administrator; provided however, that each such agreement shall comply with the terms specified below. 
 7.2
Terms. The Dividend Equivalent Rights may be granted as stand-alone awards or in tandem with other Awards made under the Plan. The term of each Dividend Equivalent Right award shall be established by the Plan Administrator at the time
of grant, but no such Award shall have a term in excess of ten (10) years. 
 7.3 Entitlement. Each Dividend
Equivalent Right shall represent the right to receive the economic equivalent of each dividend or distribution, whether in cash, securities or other property (other than shares of Common Stock), which is made per issued and outstanding share of
Common Stock during the term the Dividend Equivalent Right remains outstanding. A special account on the books of the Company shall be maintained for each Participant to whom a Dividend Equivalent Right is granted, and that account shall be credited
per Dividend Equivalent right with each such dividend or distribution made per issued and outstanding share of Common Stock during the term of that Dividend Equivalent Right remains outstanding. 

7.4 Timing of Payment. Payment of the amounts credited to such book account may be made to the Participant either
concurrently with the actual dividend or distribution made per issued and outstanding share of Common Stock or may be deferred for a period specified by the Plan Administrator at the time the Dividend Equivalent right is initially granted or (to the
extent permitted by the Plan Administrator) designated by the Participant pursuant to a timely deferral election made in accordance with the requirements of Code Section 409A. 

7.5 Form of Payment. Payment of the amounts due with respect to Dividend Equivalent Rights may be made in (i) cash;
(ii) shares of Common Stock; or (iii) a combination of cash and shares of Common Stock, as determined by the Plan Administrator in its sole discretion and set forth in the Award Agreement. If payment is to be made in the form of Common
Stock, the number of shares of Common Stock into which the cash dividend or distribution amounts are to be converted for purposes of the Participant’s book account may be based on the Fair Market Value per share of Common Stock on the date of
conversion, a prior date or an average of the Fair Market Value per share of Common Stock over a designated period, as determined by the Plan Administrator in its sole discretion. 

  
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 ARTICLE VIII 
 AUTOMATIC DIRECTOR AWARD PROGRAM 
 8.1 Terms and Conditions of
Non-Employee Director Awards. Non-Employee Directors shall receive automatic grants under the terms set forth below. In addition, Non-Employee Directors shall be eligible to receive additional discretionary Awards under the Plan. 

8.2 Grant of Awards. Awards shall be granted automatically and without further action of the Plan Administrator, as
follows: 
 (a) Initial Grants. 
 (i) Each Non-Employee Director who is a member of the Board on the Underwriting Date shall be granted on that date an Award (an “IPO Award”) in the form of an Option and/or
Restricted Stock Units with respect to a number of shares of Common Stock equal to the Initial Option Equivalent Amount; provided, however, that a Non-Employee Director granted an Award within a period of eighteen months
(18) months prior to the Underwriting Date shall not be granted an IPO Award. 
 (ii) Each individual who is first elected
or appointed a Non-Employee Director other than at a regular annual stockholders meeting at any time after the Underwriting Date, shall automatically be granted, on the date of such initial election or appointment, as applicable (the
“Initial Grant Date”), an Award in the form of an Option and/or Restricted Stock Units with respect to a number of shares equal to the Initial Option Equivalent Amount (the “Initial Grant”).

 (b) Annual Award. On the date of each annual meeting of the stockholders of the Company which occurs on or
after the Effective Date, each Non-Employee Director that continues to serve on the Board following such meeting shall be granted an Award in the form of an Option and/or Restricted Stock Units with respect to a number of shares of Common Stock
equal to the Annual Option Equivalent Amount for that year (the “Annual Grant”); provided, however, that a Non-Employee Director granted an IPO Award or an Initial Grant on, or within a period of six
(6) months prior to, the date of an annual meeting shall not be granted an Annual Award pursuant to this Section 8.2(b) with respect to the same annual meeting. 

(c) Grant Type and Amounts. The Plan Administrator shall have the sole discretion to determine the amount and
type of Awards within the limitations set forth in this Article VIII. The Initial Option Equivalent Amount shall be a number of Option equivalent shares determined by the Plan Administrator prior to the Start Date, but shall not exceed five
hundred thousand (500,000) Option equivalent shares. The Annual Option Equivalent Amount shall be a number of Option equivalent shares determined by the Plan Administrator prior to the Start Date, but shall not exceed two hundred fifty thousand
(250,000) Option equivalent shares. Unless otherwise determined by the Plan Administrator, in the event that the Plan Administrator proposes to grant Restricted Stock Units under this Article VIII in lieu of all or part of an Option,
such Restricted Stock Units shall have an aggregate value equal to the aggregate value of the Option that would otherwise be granted under this Article VIII, determined on the following basis (i) the value of an Option share shall be
equal to the fair value of an Option share as estimated on the date of grant under a valuation model approved by the Financial Accounting 

  
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Standards Board (“FASB”) for purposes of the Company’s financial statements under FAS 123R (or any successor provision); and (ii) the value of a Restricted Stock
Unit shall be equal to the Fair Market Value per share of Common Stock. 
 (d) Right to Decline Non-Employee Director
Award. Notwithstanding the foregoing, any person may elect not to receive an Non-Employee Director Award by delivering written notice of such election to the Board no later than the day prior to the date such Award would otherwise be
granted. A person so declining an Non-Employee Director Award shall receive no payment or other consideration in lieu of such declined Non-Employee Director Award. 
 8.3 Vesting of Awards. 
 (a) The date a Non-Employee Director
receives an IPO Award, Initial Grant or an Annual Grant is referred to in this Plan as the “Start Date” for such Awards. 
 (b) The shares subject to each IPO Award and each Initial Grant shall vest so that (i) one-third (1/3rd) of the shares of Common Stock subject to the IPO Award or Initial Grant, as applicable,
shall become vested on the first anniversary of the Start Date and (ii) an additional one thirty-sixth (1/36th) of the shares of Common Stock subject to the IPO Award or Initial Grant, as applicable, shall become vested on the
corresponding day of each calendar month thereafter or, to the extent such calendar month does not have the corresponding day, on the last day of such calendar month, until all such shares are vested, provided that the Non-Employee Director
continues to provide Service as a Non-Employee Director on such dates. 
 (c) The shares subject to each Annual Grant shall vest
so that all of the shares of Common Stock subject to the Annual Grant shall become vested on the earlier of: (i) the first anniversary of the Start Date or (ii) the date that is one day prior to the date of the next regular annual meeting
of the stockholders of the Company following the Start Date, provided that the Non-Employee Director continues to provide Service as a Non-Employee Director on such date. 
 8.4 Terms of Awards. 
 (a) Any Options granted under this Article
VIII shall be subject to the following terms and conditions: 
 (i) The exercise price per share shall be equal to one
hundred percent (100%) of the Fair Market Value per Common Share on the Option grant date. 
 (ii) The exercise price
shall be payable in one or more of the alternative forms authorized under Section 2.4. 
 (iii) Each such Option
shall have a maximum term of ten (10) years measured from the Option grant date, subject to earlier termination following the Non-Employee Director’s cessation of Board service. 

(iv) The Participant (or in the event of the Participant’s death while holding the Option, the personal representative of the
Participant’s estate or the person or persons to whom the option is transferred pursuant to the Participant’s will or the laws of 

  
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inheritance or the designated beneficiary or beneficiaries of such Option) shall have a twelve (12)-month period following the date of cessation of Board service in which to exercise any
outstanding Option. During the twelve (12)-month exercise period, the Option may not be exercised in the aggregate for more than the number of shares of vested Common Stock for which the option is exercisable at the time of the Participant’s
cessation of Board service. Upon the expiration of the twelve (12)-month exercise period or (if earlier) upon the expiration of the Option term, the Option shall terminate and cease to be outstanding for any shares for which the Option has not been
exercised. 
 (b) Any Restricted Stock Units granted under this Article VIII shall be subject to the following terms and
conditions: 
 (i) The shares of Common Stock underlying Restricted Stock Units which vest in accordance with the applicable
vesting provisions shall be issued as they vest; provided, however, that the Plan Administrator may structure one or more grants so that the issuance of the shares of Common Stock which vest under those awards is deferred, in
accordance with the applicable requirements of Code Section 409A and the regulations thereunder, beyond the vesting date to a designated date or the occurrence of any earlier event such as cessation of Board service or a Change of Control.

 (ii) Each Restricted Stock Unit shall include a dividend equivalent right pursuant to which a book account shall be
established for the Non-Employee Director and credited from time to time with each dividend or distribution, whether in cash, securities or other property (other than shares of Common Stock) which is made per issued and outstanding share of Common
Stock during the period the share of Common Stock underlying that Restricted Stock Unit remains unissued. The amount credited to the book account with respect to such Restricted Stock Unit shall be paid to the Non-Employee Director member
concurrently with the issuance of the share of Common Stock underlying that unit. 
 8.5 Change of Control.

 (a) In the event of any Change of Control, each outstanding Award granted under this Article VIII but not otherwise
vested shall, immediately prior to the effective date of that Change of Control transaction, automatically vest in full. 
 (b)
Any Option so accelerated shall become exercisable for all of the option shares as fully vested Common Stock and may be exercised for any or all of those vested shares. Immediately following the consummation of the Change of Control, each such
Option shall terminate and cease to be outstanding, except and to the extent assumed by the successor corporation (or parent thereof) or otherwise continued in effect pursuant to the terms of the Change of Control transaction. 

(c) The shares subject to any Restricted Stock Units so accelerated shall be issued to the Participant as soon as practicable following
the effective date of the Change of Control but in no event more than fifteen (15) business days after such effective date, except to the extent such issuance is subject to a deferred distribution date under Code Section 409A, or shall
otherwise be converted into the right to receive the same consideration per share of Common Stock payable to the other stockholders in the Change of Control and distributed at the same time as such stockholder payments, subject to any applicable
deferred distribution date under Code Section 409A. 

  
 AUS:657321.5 

-21- 

 8.6 Remaining Terms. The remaining terms of each Award granted under the
Automatic Director Award Program shall be as set forth in the Award Agreement approved by the Plan Administrator to evidence the awards made under this Article VIII. 
 ARTICLE IX 
 CERTAIN PROVISIONS APPLICABLE TO ALL AWARDS 

9.1 Deferred Compensation. 
 (a) The Plan Administrator may, in its sole discretion, structure one or more Awards (other than Options and Stock Appreciation Rights) so that the Participants may be provided with an election to defer
the compensation associated with those Awards for federal income tax purposes. Any such deferral opportunity shall comply with all applicable requirements of Code Section 409A. 

(b) The Plan Administrator may implement a Non-Employee Director retainer fee deferral program under the Plan so as to allow the
Non-Employee Directors the opportunity to elect, prior to the start of each calendar year, to convert the Board and Board committee retainer fees to be earned for such year into Restricted Stock Units under the Plan that will defer the issuance of
the shares of Common Stock that vest under those Restricted Stock Units until a permissible date or event under Code Section 409A. If such program is implemented, the Plan Administrator shall have the authority to establish such rules and
procedures as it deems appropriate for the filing of such deferral elections and the designation of the permissible distribution events under Code Section 409A. 
 (c) To the extent the Company maintains one or more separate non-qualified deferred compensation arrangements which allow the participants the opportunity to make notional investments of their deferred
account balances in shares of Common Stock, the Plan Administrator may authorize the share reserve under the Plan to serve as the source of any shares of Common Stock that become payable under those deferred compensation arrangements. In such event,
the share reserve under the Plan shall be reduced on a one share-for-one share basis for each share of Common Stock issued under the Plan in settlement of the deferred compensation owed under those separate arrangements 

9.2 Securities Requirements. No shares of Common Stock will be issued or transferred pursuant to an Award, unless and until
all then-applicable requirements imposed by federal and state securities and other laws, rules and regulations and by any regulatory agencies having jurisdiction and by any stock market or exchange upon which the Common Stock may be listed, have
been fully met. As a condition precedent to the issuance of shares pursuant to the grant, exercise, vesting or settlement of an Award, the Company may require the grantee to take any reasonable action to meet such requirements. The Company shall not
be obligated to take any affirmative action in order to cause the issuance or transfer of shares pursuant to an Award to comply with any law or regulation described in the second preceding sentence. 

  
 AUS:657321.5 

-22- 

 9.3 Transferability. 

(a) Non-Transferable Awards. Except as otherwise specifically provided in the Plan or the appropriate Award
Agreement, no Award and no right under the Plan, contingent or otherwise, will be (i) assignable, saleable or otherwise transferable by a Participant except by will or by the laws of descent and distribution; or (ii) subject to any
encumbrance, pledge or charge of any nature. No transfer by will or by the laws of descent and distribution shall be effective to bind the Company unless the Board or the applicable Committee shall have been furnished with a copy of the deceased
Participant’s will or such other evidence as the Board or the applicable Committee may deem necessary to establish the validity of the transfer. Any attempted transfer in violation of this Section 9.3 shall be void and ineffective
for all purposes. 
 (b) Non-Qualified Options. Non-Qualified Options shall be subject to the same limitation on
transfer as set forth above, except that the Plan Administrator may structure one or more Non-Qualified Options so that the Option may be transferred gratuitously in whole or in part during the Participant’s lifetime to one or more Family
Members of the Participant or to a trust established exclusively for the Participant and/or such Family Members or may be transferred to one or more Family Member pursuant to a domestic relations order. The transferred portion may only be exercised
by the person or persons who acquire a proprietary interest in the Option pursuant to the transfer. The terms applicable to the transferred portion shall be the same as those in effect for the Option immediately prior to such transfer. 

(c) Beneficiary Designations. Notwithstanding the foregoing, the Participant may designate one or more persons as the
beneficiary or beneficiaries of his or her outstanding Awards, and those Awards shall, in accordance with such designation, automatically be transferred to such beneficiary or beneficiaries upon the Participant’s death while holding those
Award. Such beneficiary or beneficiaries shall take the transferred Awards subject to all the terms and conditions of the applicable agreement evidencing each such transferred Award. 

(d) Ability to Exercise Rights. Except as otherwise specifically provided under the Plan, only the Participant, or in the
event of his death, his legal representative or beneficiary, may exercise Options and Stock Appreciation Rights, receive cash payments and deliveries of shares or otherwise exercise rights under the Plan. 

9.4 No Rights as a Stockholder. A Participant who has received a grant of an Award or a transferee of such Participant
shall have no rights as a stockholder with respect to any shares of Common Stock until such person becomes the holder of record. No adjustment shall be made for dividends (ordinary or extraordinary, whether in cash, securities or other property) or
distributions or other rights for which the record date is prior to the date such stock certificate is issued. 
 9.5
Listing and Registration of Shares of Common Stock. The Company, in its discretion, may postpone the issuance and/or delivery of shares of Common Stock under the Plan until completion of such stock exchange listing, registration or
other qualification of such shares under any state, federal or foreign law, rule or regulation as the Company may consider appropriate, and may require any Participant to make such representations and furnish such information as it may consider
appropriate in connection with the issuance or delivery of the shares in compliance with applicable laws, rules and regulations. 

  
 AUS:657321.5 

-23- 

 9.6 Change of Control. 

(a) In the event of a Change of Control transaction, each Award (other than an Award granted under Article VIII) outstanding at
that time under the Plan but not otherwise fully vested shall automatically accelerate, immediately prior to the effective date of that Change of Control, as to all the shares of Common Stock at the time subject to such Award, unless (i) such
Award is to be assumed or substituted with an equivalent award by the successor corporation (or parent thereof) or is otherwise to continue in full force and effect pursuant to the terms of the Change of Control transaction; (ii) such Award is
replaced with a cash retention program of the successor corporation that preserves the spread existing at the time of the Change of Control on the shares of Common Stock as to which the Award is not otherwise at that time vested and exercisable and
provides for the subsequent vesting and payout of that spread in accordance with the same exercise/vesting schedule applicable to those shares, but only if such replacement cash program would not result in the treatment of the Award as an item of
deferred compensation subject to Code Section 409A; or (iii) the acceleration of such Award is subject to other limitations imposed by the Plan Administrator. 
 (b) All outstanding repurchase rights shall automatically terminate, and the shares of Common Stock subject to those terminated rights shall vest in full, immediately prior to the effective date of an
actual Change of Control transaction, except to the extent (i) those repurchase rights are to be assigned to the successor corporation (or parent thereof) or are otherwise to continue in full force and effect pursuant to the terms of the Change
of Control transaction; or (ii) such accelerated vesting is precluded by other limitations imposed by the Plan Administrator. 
 (c) Immediately following the consummation of the Change of Control, all Awards, shall terminate and cease to be outstanding, except to the extent assumed by the successor corporation (or parent thereof)
or otherwise continued in full force and effect pursuant to the terms of the Change of Control transaction. 
 (d) Each Award
which is assumed in connection with a Change of Control or otherwise continued in effect shall be appropriately adjusted, immediately after such Change of Control, to apply to the number and class of securities into which the shares of Common Stock
subject to that Award would have been converted in consummation of such Change of Control had those shares actually been outstanding at that time. Appropriate adjustments to reflect such Change of Control shall also be made to (i) the exercise
or base price or cash consideration payable per share in effect under each outstanding Award, provided the aggregate exercise or base price or cash consideration in effect for such securities shall remain the same; (ii) the maximum
number and/or class of securities available for issuance over the remaining term of the Plan; (iii) the maximum number and/or class of securities by which the shares reserve is to increase each year; (iv) the maximum number and/or class of
securities for which Incentive Stock Options may be granted under the Plan; (v) the maximum number and/or class of securities for which any one person may be granted Options and Stock Appreciation Rights and other Awards under the Plan per
calendar year; and (vi) the number and/or class of securities subject to the Company’s outstanding repurchase rights under the Plan and the repurchase price payable per share. To the extent the actual holders of the Company’s
outstanding Common Stock receive cash consideration for their Common Stock in consummation of the Change of Control, the successor corporation may, in connection with the assumption or continuation of the

  
 AUS:657321.5 

-24- 

 
outstanding Awards under the Plan and subject to the Plan Administrator’s approval, substitute, for the securities underlying those assumed Awards, one or more shares of its own common stock
with a fair market value equivalent to the cash consideration paid per share of Common Stock in such Change of Control transaction, provided such common stock is readily traded on an established U.S. securities exchange or market. 

(e) The Plan Administrator shall have the discretionary authority to structure one or more outstanding Awards so that those Awards shall,
immediately prior to the effective date of a Change of Control transaction, vest as to all the shares of Common Stock at the time subject to those Awards, whether or not those Awards are to be assumed in the Change of Control transaction or
otherwise continued in effect. In addition, the Plan Administrator shall have the discretionary authority to structure one or more of the Company’s repurchase rights so that those rights shall terminate immediately prior to the effective date
of a Change of Control transaction, and the shares subject to those terminated rights shall thereupon vest in full. 
 (f) The
Plan Administrator shall have full power and authority to structure one or more outstanding Awards so that those Awards shall vest as to all the shares of Common Stock at the time subject to those Awards in the event the Participant’s Service
is subsequently terminated by reason of an Involuntary Termination within a designated period following the effective date of any Change of Control transaction in which those Awards do not otherwise vest on an accelerated basis. In addition, the
Plan Administrator may structure one or more of the Company’s repurchase rights so that those rights shall immediately terminate with respect to any shares held by the Participant at the time of such Involuntary Termination, and the shares
subject to those terminated repurchase rights shall accordingly vest in full at that time. 
 (g) The portion of any Incentive
Stock Option accelerated in connection with a Change of Control shall remain exercisable as an Incentive Option only to the extent the applicable One Hundred Thousand Dollar ($100,000) limitation is not exceeded. To the extent such dollar limitation
is exceeded, the accelerated portion of such option shall be exercisable as a Non-Qualified Option under the Federal tax laws. 

9.7 Lock-Up Agreement. In the event of any underwritten public offering of the Company’s securities made by the
Company pursuant to an effective registration statement filed under the Securities Act, the Plan Administrator shall have the right to impose market stand-off restrictions on each Award recipient whereby such Participant shall not offer, sell,
contract to sell, pledge, hypothecate, grant any option to purchase or make any short sale of, or otherwise dispose of any shares of stock of the Company or any rights to acquire stock of the Company for such period of time from and after the
effective date of such registration statement as may be established by the underwriter for such public offering; provided, however, that such period of time shall not exceed the greater of: (i) one hundred eighty (180) days from the
effective date of the registration statement to be filed in connection with such public offering; or (ii) if required by such underwriter, such longer period of time as is necessary to enable the underwriter to issue a research report, analyst
recommendation or opinion in accordance with the then-applicable rules and regulations of the Financial Regulatory Authority, Inc. and the applicable stock exchange, but in no event in excess of two hundred ten (210) days following the
effective date of the registration statement relating to such offering. The foregoing limitation shall not apply to shares registered in the public offering under the Securities Act. 

  
 AUS:657321.5 

-25- 

 9.8 Stockholder Agreements/Investment Representations. The Plan Administrator
may, from time to time, condition the grant, exercise or payment of any Award upon such Participant entering into such agreements in a form or forms as approved from time to time by the Plan Administrator, including but not limited to, a
stockholders’ agreement, voting agreement, repurchase agreement or lockup or market standoff agreement. In addition, the Plan Administrator may require the Participant to represent and warrant at the time of any such exercise or issuance that
the shares are being purchased only for investment and without any present intention to sell or distribute such shares, if, in the opinion of counsel for the Company, such a representation is required by any relevant provisions of law. 

9.9 Exemptions from Section 16(b) Liability. It is the intent of the Company that the grant of any Awards to or other
transaction by a Participant who is subject to Section 16 of the Exchange Act shall be exempt from Section 16(b) of the Exchange Act pursuant to an applicable exemption (except for transactions acknowledged by the Participant in writing to
be non-exempt). Accordingly, if any provision of this Plan or any Award agreement does not comply with the requirements of Rule 16b-3 under the Exchange Act as then applicable to any such transaction, such provision shall be construed or deemed
amended to the extent necessary to conform to the applicable requirements of Rule 16b-3 so that such Participant shall avoid liability under Section 16(b). 
 9.10 Repricing. The Board shall have the authority to effect, at any time and from time to time, with the consent of the affected holders, the cancellation of any or all outstanding Options
or Stock Appreciation Rights under the Plan and to grant in exchange one or more of the following: (i) new Options or Stock Appreciation Rights covering the same or a different number of shares of Common Stock but with an exercise or base price
per share based on the Fair Market Value per share of Common Stock on the new grant date; or (ii) cash or shares of Common Stock or any other Award, whether vested or unvested. 

The Board shall also have the authority, exercisable at any time and from time to time, with the consent of the affected holders, to
reduce the exercise or base price of one or more outstanding Options or Stock Appreciation Rights or issue new Options or Stock Appreciation Rights with a lower exercise or base price in immediate cancellation of outstanding Options or Stock
Appreciation Rights with a higher exercise or base price. 
 The Plan Administrator shall not (i) implement any
cancellation/regrant program pursuant to which outstanding Options or Stock Appreciation Rights under the Plan are cancelled and new Options or Stock Appreciation Rights are granted in replacement with a lower exercise price per share,
(ii) cancel outstanding Options or Stock Appreciation Rights under the Plan with exercise or base prices per share in excess of the then current Fair Market Value per share of Common Stock for consideration payable in cash, equity securities of
the Corporation or in the form of any other Award under the Plan, except in connection with a Change of Control transaction, or (iii) otherwise directly reduce the exercise price in effect for outstanding Options or Stock Appreciation Rights
under the Plan, without in each such instance obtaining stockholder approval. 
 9.11 Excess Shares. Awards may be
made under the Plan that involve shares of Common Stock in excess of the number of shares then available for issuance under the Plan, provided no shares shall actually be issued pursuant to those Awards until the number of shares 

  
 AUS:657321.5 

-26- 

 
of Common Stock available for issuance under the Plan is sufficiently increased by stockholder approval of an amendment of the Plan authorizing such increase. If such stockholder approval is not
obtained within twelve (12) months after the date the first excess Award is made, then all Awards granted on the basis of such excess shares shall terminate and cease to be outstanding. 

9.12 Section 409A. The provisions of the Plan and the outstanding Awards under the Plan shall, in the event of any
ambiguity, be construed, applied and interpreted in a manner so as to ensure that all Awards and Award Agreements provided to Participants who are subject to U.S. income taxation either qualify for an exemption from the requirements of
Section 409A of the Code or comply with those requirements; provided, however, that the Company shall not make any representations that any Awards made under the Plan will in fact be exempt from the requirements of Section 409A of
the Code or otherwise comply with those requirements, and each Participant shall accordingly be solely responsible for any taxes, penalties or other amounts that may become payable with respect to his or her Awards by reason of Section 409A of
the Code. 
 ARTICLE X 
 WITHHOLDING FOR TAXES 
 Any issuance of Common Stock pursuant to the
exercise, issuance, vesting or settlement of an Award under the Plan shall not be made until appropriate arrangements satisfactory to the Company have been made for the payment of any Withholding Taxes that may be required to be withheld, collected
or accounted for by the Company with respect thereto. Such arrangements may, at the discretion of the Plan Administrator, include allowing the person to tender to the Company shares of Common Stock owned by the person, or to request the Company to
withhold shares of Common Stock being acquired pursuant to the Award, whether through the exercise of an Option or as a distribution pursuant to the Award, which have an aggregate FMV Per Share as of the date of such withholding that is not greater
than the sum of all tax amounts to be withheld with respect thereto, together with payment of any remaining portion of such tax amounts in cash or by certified check payable and acceptable to the Company. 

ARTICLE XI 

MISCELLANEOUS 
 11.1 No Rights to Awards or Uniformity Among Awards. No Participant or other person shall have any claim to be granted any Award; there is no obligation for uniformity of treatment of
Participants, or holders or beneficiaries of Awards; and the terms and conditions of Awards need not be the same with respect to each recipient. 
 11.2 Rights as Employee, Director or Consultant. No person, even though eligible under this Plan, shall have a right to be selected as a Participant (except in the case of the Automatic
Director Award Program for Non-Employee Directors under Article VIII), or, having been so selected, to be selected again as a Participant (except in the case of the Automatic Director Award Program for Non-Employee Directors under
Article VIII). Nothing in the Plan or any Award granted under the Plan shall confer on any Participant a right to remain an Employee, Director or Consultant, or interfere with or limit in any way any right of the Company or its Affiliates to
terminate the Participant’s Service at any time. To the extent that an Employee of an Affiliate receives an Award under the Plan, the Award can in no event be understood or interpreted to mean that the Company is the Employee’s employer or
that the Employee has an employment relationship with the Company. 

  
 AUS:657321.5 

-27- 

 11.3 Governing Law. The validity and effect of the Plan and any rules and
regulations relating to the Plan shall be determined in accordance with applicable federal law and the laws of the State of Delaware, without regard to any principles of conflicts of law. 

11.4 Gender, Tense and Headings. Whenever the context requires such, words of the masculine gender used herein shall
include the feminine and neuter, and words used in the singular shall include the plural. Section headings as used herein are inserted solely for convenience and reference and constitute no part of the Plan. 

11.5 Severability. If any provision of the Plan or any Award is or becomes or is deemed to be invalid, illegal or
unenforceable in any jurisdiction or as to any Participant or Award, or would disqualify the Plan or any Award under any law deemed applicable by the Plan Administrator, such provision shall be construed or deemed amended as necessary to conform to
the applicable laws, or if it cannot be construed or deemed amended without, in the determination of the Plan Administrator, materially altering the intent of the Plan or the Award, such provision shall be stricken as to such jurisdiction,
Participant or Award, and the remainder of the Plan and any such Award shall remain in full force and effect. 
 11.6
Other Laws. The Plan Administrator may refuse to issue or transfer any shares or other consideration under an Award if, acting in its sole discretion, it determines that the issuance or transfer of such shares or such other
consideration might violate any applicable law. 
 11.7 Unfunded Obligations and Use of Proceeds. Any amounts
payable o Participants pursuant to the Plan shall be unfunded and unsecured obligations for all purposes. Any cash proceeds received by the Company from the sale of shares of Common Stock under the Plan shall be used for general corporate purposes.

 11.8 No Guarantee of Tax Consequences. The Participant shall be solely responsible for and liable for any tax
consequences (including but not limited to any interest or penalties) as a result of participation in the Plan. Neither the Plan Administrator, nor the Company makes any commitment or guarantee that any federal, state or local tax treatment will
apply or be available to any person participating or eligible to participate hereunder and assumes no liability whatsoever for the tax consequences to the Participants. 
 * * * * * * 

  
 AUS:657321.5 

-28-EX-10.9

 Exhibit 10.9 
 EARLY EXERCISE 
 MAVENIR SYSTEMS, INC. 

NOTICE OF GRANT OF STOCK OPTION 
 Notice is hereby given of the following option grant (the “Option”) to purchase shares (the “Option Shares”) of the Common Stock of Mavenir Systems, Inc., a
Delaware corporation (the “Company”): 
 Optionee:
                                         
                                         
   
 Grant Date:
                                         
                                        

Vesting Commencement Date:
                                         
          
 Exercise Price:
$                                        
per share 
 Number of Option Shares:
                     shares of Common Stock 
 Expiration Date:
                                         
                                

Type of Option:              Incentive Stock Option

                     
Non-Qualified Stock Option 
 Date Exercisable: Immediately Exercisable for exempt employees. The Option shall
become exercisable for all the Option Shares upon the Optionee’s completion of six (6) months of Service measured from the Grant Date for non-exempt employees. 

Vesting Schedule: This Option shall become vested and exercisable with respect to (i) one fourth
(1/4th) of the Option Shares on the first anniversary
of the Vesting Commencement Date and (ii) an additional one forty-eighth (1/48th) of the Option Shares on the corresponding day of each calendar month thereafter or, if such calendar month does not have the corresponding day, on the last day of such calendar month. In no event
shall this Option vest or become exercisable for any additional Option Shares following Optionee’s cessation of Service, except to the extent (if any) specifically authorized by the Plan Administrator in its sole discretion pursuant to a
written agreement with Optionee. 
 Optionee understands and agrees that the Option is granted subject to and in
accordance with the terms of the Mavenir Systems, Inc. 2013 Equity Incentive Plan (the “Plan”). Optionee further agrees to be bound by the terms of the Plan and the terms of the Option as set forth in the Stock
Option Agreement attached hereto as Exhibit A. Optionee hereby acknowledges receipt of a copy of the Plan in the form attached hereto as Exhibit B. 

 TRANSFER RESTRICTIONS. OPTIONEE HEREBY AGREES THAT ALL UNVESTED
OPTION SHARES ACQUIRED UPON THE EXERCISE OF THE OPTION SHALL BE SUBJECT TO CERTAIN REPURCHASE RIGHTS EXERCISABLE BY THE COMPANY AND ITS ASSIGNS. THE TERMS OF SUCH RIGHTS ARE SPECIFIED IN THE STOCK PURCHASE AGREEMENT ATTACHED HERETO AS EXHIBIT
C. 
 At Will Employment. Nothing in this Notice or in the attached Stock Option Agreement or Plan shall
confer upon Optionee any right to continue in Service for any period of specific duration or interfere with or otherwise restrict in any way the rights of the Company (or any Affiliate employing or retaining Optionee) or of Optionee, which rights
are hereby expressly reserved by each, to terminate Optionee’s Service at any time for any reason, with or without cause. 

Definitions. All capitalized terms in this Notice shall have the meaning assigned to them in this Notice, in the attached
Stock Option Agreement or in the Plan. 
  

									
	MAVENIR SYSTEMS, INC.	  		  	OPTIONEE
					
	By:	  	 	  		  	Signature:	  	 
	Name: 	  	 	  		  	Print Name:	  	 
	Title:	  	 	  		  	Address:	  	 
			
		  		  	 

 Attachments: 
 Exhibit A – Stock Option Agreement 
 Exhibit B – 2013 Equity Incentive Plan

 Exhibit C – Stock Purchase Agreement 

  
 -2-

 EXHIBIT A 
 STOCK OPTION AGREEMENT 

 MAVENIR SYSTEMS, INC. 

STOCK OPTION AGREEMENT 

RECITALS 
 A. The
Board has adopted the 2013 Equity Incentive Plan (the “Plan”) for the purpose of retaining the services of selected Employees, Directors and Consultants in the service of the Company (or any Affiliate). 

B. Optionee is to render valuable services to the Company (or an Affiliate), and this Agreement is executed pursuant to, and is intended
to carry out the purposes of, the Plan in connection with the Company’s grant of an option to Optionee. 
 C. All
capitalized terms in this Agreement not defined herein shall have the meaning assigned to them in the Grant Notice (as defined below) or in the Plan. 
 NOW, THEREFORE, it is hereby agreed as follows: 
 1. Grant of Option.
The Company hereby grants to Optionee, as of the Grant Date as specified in the Notice of Grant of Stock Option accompanying this Agreement, pursuant to which Optionee has been informed of the basic terms of the option evidenced hereby (the
“Grant Notice”), an option to purchase up to the number of Option Shares specified in the Grant Notice. The Option Shares shall be purchasable from time to time during the option term specified in Section 2 at the
Exercise Price. 
 2. Option Term. This Option shall have a term of ten (10) years measured from the Grant
Date and shall accordingly expire at the close of business on the date on which the option expires as specified in the Grant Notice (the “Expiration Date”), unless sooner terminated in accordance with Sections 5
or 6. 
 3. Limited Transferability. 

(a) This Option shall be neither transferable nor assignable by Optionee other than by will or the laws of inheritance following
Optionee’s death and may be exercised, during Optionee’s lifetime, only by Optionee. However, Optionee may designate one or more persons as the beneficiary or beneficiaries of this Option, and this Option shall, in accordance with such
designation, automatically be transferred to such beneficiary or beneficiaries upon Optionee’s death while holding this Option. Such beneficiary or beneficiaries shall take the transferred option subject to all the terms and conditions of this
Agreement, including (without limitation) the limited time period during which this Option may, pursuant to Section 5, be exercised following Optionee’s death. 
 (b) If this Option is designated a Non-Qualified Stock Option in the Grant Notice, then this Option may be assigned in whole or in part during Optionee’s lifetime to one or more of Optionee’s
Family Members or to a trust established for the exclusive benefit of Optionee and/or one or more such Family Members, to the extent such assignment is in 

  
 Exhibit A
to Notice of Grant of Stock Option (Early Exercise) 
 Page 1 

 
connection with the Optionee’s estate plan or pursuant to a domestic relations order. The assigned portion shall be exercisable only by the person or persons who acquire a proprietary
interest in the option pursuant to such assignment. The terms applicable to the assigned portion shall be the same as those in effect for this Option immediately prior to such assignment. 

4. Dates of Exercise. This Option shall vest for the Option Shares in one or more installments as specified
in the Grant Notice. As the Option becomes unvested for such installments, those installments shall accumulate, and the Option shall remain exercisable for the accumulated installments until the Expiration Date or sooner termination of the Option
term under Sections 5 or 6. 
 5. Cessation of Service. The option
term specified in Section 2 shall terminate (and this Option shall cease to be outstanding) prior to the Expiration Date should any of the following provisions become applicable: 

(a) Should Optionee cease to remain in Service for any reason (other than death, Permanent Disability or Cause) while this Option is
outstanding, then Optionee (or any person or persons to whom this Option is transferred pursuant to a permitted transfer under Section 3) shall have a period of three (3) months (commencing with the date of such cessation of
Service) during which to exercise this Option, but in no event shall this Option be exercisable at any time after the Expiration Date. 
 (b) Should Optionee die while this Option is outstanding, then the personal representative of Optionee’s estate or the person or persons to whom the option is transferred pursuant to Optionee’s
will or the laws of inheritance following Optionee’s death or, if applicable, the person to whom the option is transferred during Optionee’s lifetime pursuant to a permitted transfer under Section 3 shall have the right to
exercise this Option. However, if Optionee dies while holding this Option and has an effective beneficiary designation in effect for this Option at the time of his or her death, then the designated beneficiary or beneficiaries shall have the
exclusive right to exercise this Option following Optionee’s death. Any such right to exercise this Option shall lapse, and this Option shall cease to be outstanding, upon the earlier of (i) the expiration of the twelve (12)-month period
measured from the date of Optionee’s death or (ii) the Expiration Date. 
 (c) Should Optionee cease Service by reason
of Permanent Disability while this Option is outstanding, then Optionee (or any person or persons to whom this Option is transferred pursuant to a permitted transfer under Section 3) shall have a period of twelve (12) months
(commencing with the date of such cessation of Service) during which to exercise this Option. In no event shall this Option be exercisable at any time after the Expiration Date. 

(d) During the limited period of post-Service exercisability, this Option may not be exercised in the aggregate for more than the number
of Option Shares in which Optionee is, at the time of Optionee’s cessation of Service, vested pursuant to the Vesting Schedule specified in the Grant Notice or the special vesting acceleration provisions of Section 6. No additional
Option Shares shall vest, whether pursuant to the normal Vesting Schedule specified in the Grant Notice or the special vesting acceleration provisions of Section 6, following 

  
 Exhibit A
to Notice of Grant of Stock Option (Early Exercise) 
 Page 2 

 
Optionee’s cessation of Service, except to the extent (if any) specifically authorized by the Plan Administrator pursuant to an express written agreement with Optionee. Upon the expiration
of such limited exercise period or (if earlier) upon the Expiration Date, this Option shall terminate and cease to be outstanding for any vested Option Shares for which the option has not been exercised. 

(e) Should Optionee’s Service be terminated for Cause or should Optionee otherwise engage in conduct constituting grounds for a
termination for Cause while this Option is outstanding, then this Option shall terminate immediately and cease to remain outstanding. 
 6. Change of Control. 
 (a) Should a Change of Control occur during
Optionee’s period of Service, then the Option Shares at the time subject to this Option but not otherwise vested shall automatically vest in full so that this Option shall, immediately prior to the effective date of the Change of Control,
become exercisable for all of the Option Shares as fully vested shares and may be exercised for any or all of those Option Shares as vested shares. However, the Option Shares shall not vest on such an accelerated basis if and to the
extent: (i) this Option is assumed or substituted with an equivalent award by the successor corporation (or parent thereof) or otherwise continued in full force and effect pursuant to the terms of the Change of Control transaction and the
Company’s repurchase rights with respect to the unvested Option Shares purchasable under this Option are assigned to such successor corporation (or parent thereof) or otherwise continued in effect or (ii) this Option is to be replaced with
a cash retention program of the successor corporation which preserves the spread existing on the unvested Option Shares at the time of the Change of Control (the excess of the Fair Market Value of those Option Shares over the Exercise Price payable
for such shares) and provides for subsequent payout of that spread in accordance with the same Vesting Schedule applicable to those unvested Option Shares as set forth in the Grant Notice or (iii) such accelerated vesting is otherwise precluded
pursuant to the provisions of Paragraph 5(d) above. Notwithstanding the foregoing, no such cash retention program shall be established for this Option (or any other option granted to Optionee under the Plan) to the extent such program would
otherwise be deemed to constitute a deferred compensation arrangement subject to the requirements of Code Section 409A and the Treasury Regulations thereunder. 
 (b) Immediately following the Change of Control, this Option shall terminate and cease to be outstanding, except to the extent assumed by the successor corporation (or parent thereof) or otherwise
continued in full force and effect pursuant to the terms of the Change of Control transaction. 
 (c) If this Option is assumed
in connection with a Change of Control or otherwise continued in effect, then this option shall be appropriately adjusted, immediately after such Change of Control, to apply to the number and class of securities which would have been issuable to
Optionee in consummation of such Change of Control had the Option been exercised immediately prior to such Change of Control, and appropriate adjustments shall also be made to the Exercise Price, provided the aggregate Exercise Price shall
remain the same. To the extent that the actual holders of the Company’s outstanding Common Stock receive cash consideration 

  
 Exhibit A
to Notice of Grant of Stock Option (Early Exercise) 
 Page 3 

 
for their Common Stock in consummation of the Change of Control, the successor corporation may, in connection with the assumption or continuation of this option, substitute one or more shares of
its own common stock with a fair market value equivalent to the cash consideration paid per share of Common Stock in such Change of Control provided such common stock is readily traded on an established U.S. securities exchange or market.

 (d) This Agreement shall not in any way affect the right of the Company to adjust, reclassify, reorganize or otherwise change
its capital or business structure or to merge, consolidate, dissolve, liquidate or sell or transfer all or any part of its business or assets. 
 7. Adjustment in Option Shares. Should any change be made to the Common Stock by reason of any stock split, stock dividend, recapitalization, combination of shares, exchange of
shares, spin-off transaction or other change affecting the outstanding Common Stock as a class without the Company’s receipt of consideration or should the value of the outstanding shares of Common Stock be substantially reduced as a result of
a spin-off transaction or extraordinary dividend or distribution, then equitable adjustments shall be made to (i) the total number and/or class of securities subject to this Option and (ii) the Exercise Price. The adjustments shall be made
by the Plan Administrator in such manner as the Plan Administrator deems appropriate in order to reflect such change, and those adjustments shall be final, binding and conclusive. 

8. Stockholder Rights. The holder of this Option shall not have any stockholder rights with respect to the
Option Shares until such person shall have exercised the Option, paid the Exercise Price and become the record holder of the purchased shares. 
 9. Manner of Exercising Option. 
 (a) In order to exercise this
Option with respect to all or any part of the Option Shares for which this Option is at the time exercisable, Optionee (or any other person or persons exercising this Option) must take the following actions: 

(i) Execute and deliver to the Company a stock purchase agreement substantially in the form of
Exhibit C to the Grant Notice (the “Purchase Agreement”) for the Option Shares for which the option is exercised or comply with such other procedures as the Company may establish for notifying the Company
of the exercise of this Option. 
 (ii) Pay the aggregate Exercise Price for the purchased shares in one or more
of the following forms: 
 (A) cash or certified check made payable to the Company; or 

(B) at the discretion of the Plan Administrator and to the extent permitted by Applicable Law, in shares of Common Stock
valued at Fair Market Value on the date on which this Option shall have been exercised in accordance with this Section 9 (the “Exercise Date”) and held by Optionee (or any other person or persons exercising the
Option) for the requisite period (if any) necessary to avoid a charge to the Company’s earnings for financial reporting purposes; or 

  
 Exhibit A
to Notice of Grant of Stock Option (Early Exercise) 
 Page 4 

 (C) to the extent the option is exercised for vested Option Shares following
the IPO, through a special sale and remittance procedure established by the Company pursuant to which Optionee (or any other person or persons exercising the option) shall concurrently provide irrevocable instructions (1) to a brokerage firm
(reasonably satisfactory to the Company for purposes of administering such procedure in compliance with any applicable pre-clearance or pre-notification requirements) to effect the immediate sale of the purchased shares and remit to the Company, out
of the sale proceeds available on the settlement date, sufficient funds to cover the aggregate Exercise Price payable for the purchased shares plus all applicable income and employment taxes required to be withheld by the Company by reason of such
exercise and (2) to the Company to deliver the certificates for the purchased shares directly to such brokerage firm on such settlement date in order to complete the sale; or 

(D) such other method of payment as the Plan Administrator may approve. 

(iii) Furnish to the Company appropriate documentation that the person or persons exercising the option (if other than
Optionee) have the right to exercise this Option. 
 (iv) Execute and deliver to the Company such written
representations as may be requested by the Company in order for it to comply with the applicable requirements of applicable securities laws. 
 (v) Make appropriate arrangements with the Company (or Affiliate employing or retaining Optionee) for the satisfaction of all applicable income and employment tax withholding requirements applicable to
the option exercise. 
 (b) As soon as practical after the Exercise Date, the Company shall issue to or on behalf of Optionee (or
any other person or persons exercising this Option) a certificate for the purchased Option Shares, with the appropriate legends affixed thereto. 
 (c) In no event may this Option be exercised for any fractional shares. 

10. REPURCHASE RIGHTS. ALL UNVESTED OPTION SHARES ACQUIRED UPON THE EXERCISE OF THIS OPTION SHALL BE SUBJECT
TO CERTAIN RIGHTS OF THE COMPANY AND ITS ASSIGNS TO REPURCHASE THOSE SHARES IN ACCORDANCE WITH THE TERMS SPECIFIED IN THE PURCHASE AGREEMENT. 

  
 Exhibit A
to Notice of Grant of Stock Option (Early Exercise) 
 Page 5 

 11. Compliance with Laws and Regulations. 

(a) The exercise of this Option and the issuance of the Option Shares upon such exercise shall be subject to compliance by the Company and
Optionee with all applicable requirements of law relating thereto and with all applicable regulations of any stock exchange on which the Common Stock may be listed for trading at the time of such exercise and issuance. 

(b) The inability of the Company to obtain approval from any regulatory body having authority deemed by the Company to be necessary to the
lawful issuance and sale of any Common Stock pursuant to this Option shall relieve the Company of any liability with respect to the non-issuance or sale of the Common Stock as to which such approval shall not have been obtained. The Company,
however, shall use its best efforts to obtain all such approvals. 
 12. Successors and Assigns. Except to the
extent otherwise provided in Sections 3 and 5, the provisions of this Agreement shall inure to the benefit of, and be binding upon, the Company and its successors and assigns and Optionee, Optionee’s assigns and the legal
representatives, heirs and legatees of Optionee’s estate. 
 13. Notices. Any notice required to be given or
delivered to the Company under the terms of this Agreement shall be in writing and addressed to the Company at its principal corporate offices. Any notice required to be given or delivered to Optionee shall be in writing and addressed to Optionee at
the address indicated below Optionee’s signature line on the Grant Notice. All notices shall be deemed effective upon personal delivery or upon deposit in the U.S. mail, postage prepaid and properly addressed to the party to be notified.

 Optionee generally consents to the delivery of any notice pursuant to the Delaware General Corporation Law (the
“DGCL”), as amended or superseded from time to time, by electronic transmission pursuant to Section 232 of the DGCL (“Electronic Notice”) at the electronic mail address or the facsimile number as
set forth in the books of the Company. To the extent that any notice given via electronic transmission is returned or undeliverable for any reason, the foregoing consent shall be deemed to have been revoked until a new or corrected electronic mail
address has been provided, and such attempted Electronic Notice shall be ineffective and deemed to not have been given. Optionee agrees to promptly notify the Company of any change in Optionee’s electronic mail address, but failure to do so
shall not affect the foregoing. 
 14. Construction; Administrator Discretions. This Agreement and the Option
evidenced hereby are made and granted pursuant to the Plan and are in all respects limited by and subject to the terms of the Plan. All decisions of the Plan Administrator with respect to any question or issue arising under the Plan or this
Agreement shall be conclusive and binding on all persons having an interest in this Option. 
 15. Electronic
Delivery. The Company may, in its sole discretion, decide to deliver any documents related to options awarded under the Plan or future options that may be awarded under the Plan by electronic means or request Optionee’s consent to
participate in the Plan by electronic means. Optionee hereby consents to receive such documents by electronic delivery and agrees to participate in the Plan through any on-line or electronic system established and maintained by the Company or
another third party designated by the Company. 

  
 Exhibit A
to Notice of Grant of Stock Option (Early Exercise) 
 Page 6 

 16. Governing Law. The interpretation, performance and
enforcement of this Agreement shall be governed by the laws of the State of Texas without resort to that state’s conflict-of-laws rules. 
 17. Stockholder Approval. If the Option Shares covered by this Agreement exceed, as of the Grant Date, the number of shares of Common Stock which may be issued under the Plan as last
approved by the Company’s stockholders, then this Option shall be void with respect to such excess shares, unless stockholder approval of an amendment sufficiently increasing the number of shares of Common Stock issuable under the Plan is
obtained in accordance with the provisions of the Plan. 
 18. Code Section 409A. Under Section 409A of
the Code, an option that is granted with an exercise price per share of Common Stock that is determined by the Internal Revenue Service (the “IRS”) to be less than the Fair Market Value of a share of Common Stock on the Grant
Date (a “Discount Option”) may be considered “deferred compensation.” A Discount Option may result in (i) income recognition by Optionee prior to the exercise of the option, (ii) an additional twenty
percent (20%) federal income tax, and (iii) potential penalty and interest charges. The Discount Option may also result in additional state income, penalty and interest tax to the Optionee. Optionee acknowledges that the Company cannot and
has not guaranteed that the IRS will agree that the exercise price per share of Common Stock of this Option equals or exceeds the Fair Market Value of a share of Common Stock on the Grant Date in a later examination. Optionee agrees that if the IRS
determines that this Option was granted with an exercise price per share of Common Stock that was less than the Fair Market Value of a share of Common Stock on the Grant Date, Optionee will be solely responsible for Optionee’s costs related to
such a determination. 
 19. Modifications to the Agreement. This Agreement and the Plan constitutes the entire
understanding of the parties on the subjects covered. Optionee expressly warrants that he or she is not accepting this Agreement in reliance on any promises, representations, or inducements other than those contained herein. Modifications to the
option, this Agreement or the Plan can be made only in an express written contract executed by a duly authorized officer of the Company. Notwithstanding anything to the contrary in the Plan or this Agreement, the Company reserves the right to revise
this Agreement as it deems necessary or advisable, in its sole discretion and without the consent of Optionee, to comply with Section 409A of the Code or to otherwise avoid imposition of any additional tax or income recognition under
Section 409A of the Code in connection to this Option. 
 20. Additional Terms Applicable to an Incentive Stock
Option. In the event this Option is designated an Incentive Option in the Grant Notice, the following terms and conditions shall also apply to the grant: 
 (a) This Option shall cease to qualify for favorable tax treatment as an Incentive Stock Option if (and to the extent) this Option is exercised for one or more Option Shares (i) more than
three (3) months after the date Optionee ceases to be an Employee for any reason other than death or Permanent Disability laws; or (ii) more than twelve (12) months after the date Optionee ceases to be an Employee by reason of
Permanent Disability. 

  
 Exhibit A
to Notice of Grant of Stock Option (Early Exercise) 
 Page 7 

 (b) This Option shall not become exercisable in the calendar year in which granted if (and
to the extent) the aggregate Fair Market Value (determined at the Grant Date) of the Common Stock for which this Option would otherwise first become exercisable in such calendar year would, when added to the aggregate value (determined as of the
respective date or dates of grant) of the Common Stock and any other securities for which one or more other Incentive Options granted to Optionee prior to the Grant Date (whether under the Plan or any other option plan of the Company or any
Affiliate) first become exercisable during the same calendar year, exceed One Hundred Thousand Dollars ($100,000) in the aggregate. To the extent the exercisability of this Option is deferred by reason of the foregoing limitation, the deferred
portion shall become exercisable in the first calendar year or years thereafter in which the One Hundred Thousand Dollar ($100,000) limitation of this Section 20(a) would not be contravened, but such deferral shall in all events end
immediately prior to the effective date of a Change of Control in which this Option is not to be assumed or otherwise continued in effect, whereupon the option shall become immediately exercisable as a Non-Qualified Stock Option for the deferred
portion of the Option Shares. 
 (c) Should Optionee hold, in addition to this Option, one or more other options to purchase
Common Stock which become exercisable for the first time in the same calendar year as this Option, then for purposes of the foregoing limitations on the exercisability of such options as Incentive Stock Options, this Option and each of those other
options shall be deemed to become first exercisable in that calendar year on the basis of the chronological order in which they were granted, except to the extent otherwise provided under applicable law or regulation. 

21. Market Standoff Agreement. Optionee hereby agrees that, if requested by the managing underwriter, it will not, without
the prior written consent of the Company, during the period commencing on the date of the final prospectus relating to the Company’s initial public offering or any secondary public offering, as applicable, and ending on the date specified by
the Company and the managing underwriter (such period not to exceed one hundred eighty (180) calendar days in the case of an initial public offering and, solely in the case of a holder of shares of the Company’s Common Stock, ninety
(90) calendar days in the case of any secondary public offering (or such other period as may be requested by the Company or managing underwriter to accommodate regulatory restrictions on (i) the publication or other distribution of
research reports and (ii) analyst recommendations and opinions, including, but not limited to, the restrictions contained in FINRA Rule 2711(f)(4) or NYSE Rule 472(f)(4), or any successor provisions or amendments thereto)) (i) lend, offer,
pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, or otherwise transfer or dispose of, directly or indirectly, any securities of the
Company, including (without limitation) shares of Common Stock or any securities convertible into or exercisable or exchangeable for Common Stock (whether now owned or hereafter acquired) or (ii) enter into any swap or other arrangement that
transfers to another, in whole or in part, any of the economic consequences of ownership of any securities of the Company, 

  
 Exhibit A
to Notice of Grant of Stock Option (Early Exercise) 
 Page 8 

 
including (without limitation) shares of Common Stock or any securities convertible into or exercisable or exchangeable for Common Stock (whether now owned or hereafter acquired), whether any
such transaction described in clause (i) or (ii) above is to be settled by delivery of securities, in cash or otherwise. Optionee agrees that any transferee of the Option or shares acquired pursuant to the Option shall be bound by
this Section 21. 

  
 Exhibit A
to Notice of Grant of Stock Option (Early Exercise) 
 Page 9 

 EXHIBIT B 
 2013 EQUITY INCENTIVE PLAN 

 EXHIBIT C 
 STOCK PURCHASE AGREEMENT 

 EARLY EXERCISE 
 MAVENIR SYSTEMS, INC. 
 STOCK PURCHASE AGREEMENT 

AGREEMENT made this _____ day of ___________________, 20___ by and between Mavenir Systems, Inc., a Delaware corporation, and
________________________, Optionee under the Company’s 2013 Equity Incentive Plan. 
 All capitalized terms in this
Agreement shall have the meaning assigned to them in this Agreement, in the Notice of Grant of Stock Option to which this Agreement relates or in the Plan attached as Exhibit B to the Notice of Grant to which this Agreement
relates. 
 A. Exercise of Option 
 1. Exercise. Optionee hereby purchases _______ shares of Common Stock (the “Purchased Shares”) pursuant to that certain option (the “Option”)
granted Optionee on ____________________, _____ (the “Grant Date”) to purchase up to _________ shares of Common Stock (the “Option Shares”) under the Plan at the exercise price of $
___________ per share (the “Exercise Price”). 
 2. Payment. Concurrently with the
delivery of this Agreement to the Company, Optionee shall pay the Exercise Price for the Purchased Shares in accordance with the provisions of all agreements and other documents evidencing the Option (the “Option Agreement”)
and shall deliver whatever additional documents may be required by the Option Agreement as a condition for exercise, together with a duly-executed blank Assignment Separate from Certificate (in the form attached hereto as
Exhibit I) with respect to the Purchased Shares. 
 3. Stockholder Rights. Until such
time as the Company exercises the Repurchase Right, Optionee (or any successor in interest) shall have all the rights of a stockholder (including voting, dividend and liquidation rights) with respect to the Purchased Shares, subject, however, to the
transfer restrictions of Articles B and C. 
 4. Information. Optionee believes Optionee has received all the
information Optionee considers necessary or appropriate for deciding whether to purchase the Purchased Shares. Optionee further represents that Optionee has had an opportunity to ask questions and receive answers from the Company regarding the terms
and conditions of the offering of the Purchased Shares and the business, properties, prospects and financial condition of the Company. 
 B.
Transfer Restrictions 
 1. Restriction on Transfer. Except for any Permitted Transfer, Optionee
shall not transfer, assign, encumber or otherwise dispose of any of the Purchased Shares which are subject to the Repurchase Right. In addition, Purchased Shares which are released from the Repurchase Right shall not be transferred, assigned,
encumbered or otherwise disposed of in contravention of the Right of First Refusal under Article D (the “First Refusal Right”). 

  
 Exhibit C
to Notice of Grant of Stock Option (Early Exercise) 
 Page 1 

 2. Transferee Obligations. Each person (other than the Company) to whom the
Purchased Shares are transferred by means of a Permitted Transfer must, as a condition precedent to the validity of such transfer, acknowledge in writing to the Company that such person is bound by the provisions of this Agreement and that the
transferred shares are subject to (i) the Repurchase Right, and (ii) the First Refusal Right, to the same extent such shares would be so subject if retained by Optionee. 

3. Restrictive Legends.  
 (a) Legends. Optionee understands and agrees that the Company may cause the legends set forth below or legends substantially equivalent thereto, to be placed upon any certificate(s) evidencing ownership
of the Shares together with any other legends that may be required by the Company or by state or federal securities laws: 
 THE
SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE, AND MAY NOT BE SOLD, TRANSFERRED, ASSIGNED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER
SUCH ACT AND/OR APPLICABLE STATE SECURITIES LAWS, OR UNLESS, IN THE OPINION OF COUNSEL (WHICH MAY BE COUNSEL TO THE COMPANY) SATISFACTORY TO THE COMPANY, SUCH REGISTRATION IS NOT REQUIRED. 

THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFER, INCLUDING A 180-DAY MARKET STANDOFF AGREEMENT,
REPURCHASE RIGHTS AND RIGHTS OF FIRST REFUSAL GRANTED TO THE COMPANY AND ACCORDINGLY MAY NOT BE SOLD, ASSIGNED, TRANSFERRED, ENCUMBERED, OR IN ANY MANNER DISPOSED OF EXCEPT IN CONFORMITY WITH THE TERMS OF A STOCK PURCHASE AGREEMENT BETWEEN THE
COMPANY AND THE REGISTERED HOLDER OF THE SHARES (OR THE PREDECESSOR IN INTEREST TO THE SHARES). A COPY OF SUCH AGREEMENT IS MAINTAINED AT THE COMPANY’S PRINCIPAL CORPORATE OFFICES. 

(b) Stop-Transfer Notices. Optionee agrees that, in order to ensure compliance with the restrictions referred to herein, the
Company may issue appropriate “stop transfer” instructions to its transfer agent, if any, and that, if the Company transfers its own securities, it may make appropriate notations to the same effect in its own records. 

(c) Refusal to Transfer. The Company shall not be required (i) to transfer on its books any Shares that have been sold
or otherwise transferred in violation of any of the provisions of this Exercise Notice or (ii) to treat as owner of such Shares or to accord the right to vote or pay dividends to any purchaser or other transferee to whom such Shares shall have
been so transferred. 

  
 Exhibit C
to Notice of Grant of Stock Option (Early Exercise) 
 Page 2 

 C. Repurchase Right 
 1. Grant. The Company is hereby granted the right (the “Repurchase Right”), exercisable at any time during the ninety (90)-day period following the date Optionee
ceases for any reason to remain in Service or (if later) during the ninety (90)-day period following the execution date of this Agreement, to repurchase at the lower of (i) the Exercise Price or (ii) the Fair Market Value per share of
Common Stock on the date of Optionee’s cessation of Service (the “Repurchase Price”) any or all of the Purchased Shares in which Optionee is not, at the time of his or her cessation of Service, vested in accordance with
the Vesting Schedule applicable to those shares as specified in the Grant Notice or the special vesting acceleration provisions of Paragraph B.3.6 of this Agreement (such shares to be hereinafter referred to as the “Unvested
Shares”). 
 2. Exercise of the Repurchase Right. The Repurchase Right shall be
exercisable by written notice delivered to each Owner of the Unvested Shares prior to the expiration of the ninety (90)-day exercise period. The notice shall indicate the number of Unvested Shares to be repurchased, the Repurchase Price to be
paid per share and the date on which the repurchase is to be effected, such date to be not more than thirty (30) days after the date of such notice. The certificates representing the Unvested Shares to be repurchased shall be delivered to the
Company on the closing date specified for the repurchase. Concurrently with the receipt of such stock certificates, the Company shall pay to Owner, in cash or cash equivalents (including the cancellation of any purchase-money indebtedness), an
amount equal to the Repurchase Price for the Unvested Shares which are to be repurchased from Owner. 
 3. Termination of
the Repurchase Right. The Repurchase Right shall terminate with respect to any Unvested Shares for which it is not timely exercised under Section B.3.2. In addition, the Repurchase Right shall terminate and cease to be
exercisable with respect to any and all Purchased Shares in which Optionee vests in accordance with the Vesting Schedule. All Purchased Shares as to which the Repurchase Right lapses shall, however, remain subject to the First Refusal Right.

 4. Aggregate Vesting Limitation. If the Option is exercised in more than one increment so that Optionee is a
party to one or more other Stock Purchase Agreements (the “Prior Purchase Agreements”) which are executed prior to the date of this Agreement, then the total number of Purchased Shares as to which Optionee shall be deemed to
have a fully-vested interest under this Agreement and all Prior Purchase Agreements shall not exceed in the aggregate the number of Purchased Shares in which Optionee would otherwise at the time be vested, in accordance with the Vesting Schedule,
had all the Purchased Shares (including those acquired under the Prior Purchase Agreements) been acquired exclusively under this Agreement. 
 5. Recapitalization. Any new, substituted or additional securities or other property (including cash paid other than as a regular cash dividend) which is by reason of any Recapitalization
distributed with respect to the Purchased Shares shall be immediately subject to the Repurchase Right and any escrow requirements hereunder, but only to the extent the Purchased Shares are at the time covered by such right or escrow requirements.
Appropriate adjustments to reflect such distribution shall be made to the number and/or class of Purchased Shares subject to this Agreement and to the Repurchase Price per share to be paid upon the exercise of the Repurchase Right in order to
reflect the effect of any such Recapitalization upon the Company’s capital structure; provided, however, that the aggregate Repurchase Price shall remain the same. 

  
 Exhibit C
to Notice of Grant of Stock Option (Early Exercise) 
 Page 3 

 6. Change of Control. 

(a) The Repurchase Right shall automatically terminate in its entirety, and all the Purchased Shares shall vest in full, immediately prior
to the consummation of any Change of Control, except to the extent the Repurchase Right is to be assigned to the successor entity in such Change of Control or otherwise continued in full force and effect pursuant to the terms of the Change of
Control transaction. 
 (b) To the extent the Repurchase Right remains in effect following a Change of Control, such right shall
apply to any new securities or other property (including any cash payments) received in exchange for the Purchased Shares in consummation of the Change of Control, but only to the extent the Purchased Shares are at the time covered by such right.
Appropriate adjustments shall be made to the Repurchase Price per share payable upon exercise of the Repurchase Right to reflect the effect (if any) of the Change of Control; provided, however, that the aggregate Repurchase Price shall remain the
same. The new securities or other property (including any cash payments) issued or distributed with respect to the Purchased Shares in consummation of the Change of Control shall be immediately deposited in escrow with the Company (or the successor
entity) and shall not be released from escrow until Optionee vests in such securities or other property in accordance with the same Vesting Schedule in effect for the Purchased Shares. 
 D. Company’s Right of First Refusal. Before any Shares held by Optionee or any transferee (either being sometimes referred to herein as the “Holder”) may be sold
or otherwise transferred (including transfer by gift or operation of law), the Company or its assignee(s) shall have a right of first refusal to purchase the Shares on the terms and conditions set forth in this Section (the “Right of
First Refusal”). 
 1. Notice of Proposed Transfer. The Holder of the Shares shall deliver to the
Company a written notice (the “Notice”) stating: (i) the Holder’s bona fide intention to sell or otherwise transfer such Shares; (ii) the name of each proposed purchaser or other transferee
(“Proposed Transferee”); (iii) the number of Shares to be transferred to each Proposed Transferee; and (iv) the bona fide cash price or other consideration for which the Holder proposes to transfer the Shares (the
“Offered Price”), and the Holder shall offer the Shares at the Offered Price to the Company or its assignee(s). 
 2. Exercise of Right of First Refusal. At any time within thirty (30) days after receipt of the Notice, the Company and/or its assignee(s) may, by giving written notice to the Holder,
elect to purchase up to all of the Shares proposed to be transferred to any one or more of the Proposed Transferees, at the purchase price determined in accordance with subsection (c) below. 

3. Purchase Price. The purchase price (“Purchase Price”) for the Shares purchased by the Company or
its assignee(s) under this Section shall be the Offered Price. If the Offered Price includes consideration other than cash, the cash equivalent value of the non-cash consideration shall be determined by the Board of Directors of the Company in good
faith. 

  
 Exhibit C
to Notice of Grant of Stock Option (Early Exercise) 
 Page 4 

 4. Payment. Payment of the Purchase Price shall be made, at the option of the
Company or its assignee(s), in cash (by check), by cancellation of all or a portion of any outstanding indebtedness of the Holder to the Company (or, in the case of repurchase by an assignee, to the assignee), or by any combination thereof within 30
days after receipt of the Notice or in the manner and at the times set forth in the Notice. 
 5. Holder’s Right to
Transfer. To the extent that the Shares proposed in the Notice to be transferred to a given Proposed Transferee are not purchased by the Company and/or its assignee(s) as provided in this Section, then the Holder may sell or otherwise
transfer such Shares to that Proposed Transferee at the Offered Price or at a higher price, provided that such sale or other transfer is consummated within 120 days after the date of the Notice, that any such sale or other transfer is effected in
accordance with any applicable securities laws and that the Proposed Transferee agrees in writing that the provisions of this Section shall continue to apply to the Shares in the hands of such Proposed Transferee. If the Shares described in the
Notice are not transferred to the Proposed Transferee within such period, a new Notice shall be given to the Company, and the Company and/or its assignees shall again be offered the Right of First Refusal before any Shares held by the Holder may be
sold or otherwise transferred. 
 6. Exception for Certain Family Transfers. Anything to the contrary contained in
this Section notwithstanding, the transfer of any or all of the Shares during the Optionee’s lifetime or on the Optionee’s death by will or intestacy to the Optionee’s immediate family or a trust for the benefit of the Optionee’s
immediate family shall be exempt from the provisions of this Section. “Immediate Family” as used herein shall mean spouse, lineal descendant or antecedent, father, mother, brother or sister. In such case, the transferee or
other recipient shall receive and hold the Shares so transferred subject to the provisions of this Section, and there shall be no further transfer of such Shares except in accordance with the terms of this Section. 

7. Termination of Right of First Refusal. The Right of First Refusal shall terminate as to any Shares upon the
earlier to occur of (i) the consummation of a Change of Control or (ii) the first sale of Common Stock of the Company to the general public pursuant to a registration statement filed with and declared effective by the Securities and
Exchange Commission under the Securities Act. 
 E. Special Tax Election 

The acquisition of the Purchased Shares may result in adverse tax consequences which may be avoided or mitigated by filing an election
under Code Section 83(b). Such election must be filed within thirty (30) days after the date of this Agreement. A description of the tax consequences applicable to the acquisition of the Purchased Shares and the form for making the Code
Section 83(b) election are set forth in Exhibit II. OPTIONEE SHOULD CONSULT WITH HIS OR HER TAX ADVISOR TO DETERMINE THE TAX CONSEQUENCES OF ACQUIRING THE PURCHASED SHARES AND THE ADVANTAGES AND DISADVANTAGES OF FILING THE
CODE SECTION 83(b) ELECTION. OPTIONEE ACKNOWLEDGES THAT IT IS OPTIONEE’S SOLE RESPONSIBILITY, AND NOT THE COMPANY’S, TO FILE A TIMELY ELECTION UNDER CODE SECTION 83(b), EVEN IF OPTIONEE REQUESTS THE COMPANY OR ITS REPRESENTATIVES TO
MAKE THIS FILING ON HIS OR HER BEHALF. 

  
 Exhibit C
to Notice of Grant of Stock Option (Early Exercise) 
 Page 5 

 F. General Provisions 
 1. Assignment. The Company may assign the Repurchase Right to any person or entity selected by the Board, including (without limitation) one or more stockholders of the
Company. 
 2. At Will Employment. Nothing in this Agreement or in the Plan shall
confer upon Optionee any right to continue in Service for any period of specific duration or interfere with or otherwise restrict in any way the rights of the Company (or any Affiliate employing or retaining Optionee) or of Optionee, which rights
are hereby expressly reserved by each, to terminate Optionee’s Service at any time for any reason, with or without cause. 
 3. Notices. Any notice required to be given under this Agreement shall be in writing and shall be deemed effective upon personal delivery or upon deposit in the U.S. mail,
postage prepaid and properly addressed to the party entitled to such notice at the address indicated below such party’s signature line on this Agreement or at such other address as such party may designate by ten (10) days advance written
notice under this paragraph to all other parties to this Agreement. 
 Optionee generally consents to the delivery
of any notice pursuant to the Delaware General Corporation Law (the “DGCL”), as amended or superseded from time to time, by electronic transmission pursuant to Section 232 of the DGCL (“Electronic
Notice”) at the electronic mail address or the facsimile number as set forth in the books of the Company. To the extent that any notice given via electronic transmission is returned or undeliverable for any reason, the foregoing consent
shall be deemed to have been revoked until a new or corrected electronic mail address has been provided, and such attempted Electronic Notice shall be ineffective and deemed to not have been given. Optionee agrees to promptly notify the Company of
any change in Optionee’s electronic mail address, but failure to do so shall not affect the foregoing. 
 4.
No Waiver. The failure of the Company in any instance to exercise the Repurchase Right shall not constitute a waiver of any other repurchase rights that may subsequently arise under the provisions of this Agreement or any other
agreement between the Company and Optionee. No waiver of any breach or condition of this Agreement shall be deemed to be a waiver of any other or subsequent breach or condition, whether of like or different nature. 

5. Cancellation of Shares. If the Company shall make available, at the time and place and in the amount and form provided
in this Agreement, the consideration for the Purchased Shares to be repurchased in accordance with the provisions of this Agreement, then from and after such time, the person from whom such shares are to be repurchased shall no longer have any
rights as a holder of such shares (other than the right to receive payment of such consideration in accordance with this Agreement). Such shares shall be deemed purchased in accordance with the applicable provisions hereof, and the Company shall be
deemed the owner and holder of such shares, whether or not the certificates therefor have been delivered as required by this Agreement. 

  
 Exhibit C
to Notice of Grant of Stock Option (Early Exercise) 
 Page 6 

 G. Miscellaneous Provisions 

1. Optionee Undertaking. Optionee hereby agrees to take whatever additional action and execute whatever
additional documents the Company may deem necessary or advisable in order to carry out or effect one or more of the obligations or restrictions imposed on either Optionee or the Purchased Shares pursuant to the provisions of this Agreement.

 2. Agreement is Entire Contract. This Agreement constitutes the entire contract between
the parties hereto with regard to the subject matter hereof. This Agreement is made pursuant to the provisions of the Plan and shall in all respects be construed in conformity with the terms of the Plan. 

3. Governing Law. This Agreement shall be governed by, and construed in accordance with, the laws of the
State of Texas without resort to that state’s conflict-of-laws rules. 
 4.
Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed to be an original, but all of which together shall constitute one and the same instrument. 

5. Successors and Assigns. The provisions of this Agreement shall inure to the benefit of, and be binding
upon, the Company and its successors and assigns and upon Optionee, Optionee’s permitted assigns and the legal representatives, heirs and legatees of Optionee’s estate, whether or not any such person shall have become a party to this
Agreement and have agreed in writing to join herein and be bound by the terms hereof. 

  
 Exhibit C
to Notice of Grant of Stock Option (Early Exercise) 
 Page 7 

 IN WITNESS WHEREOF, the parties have executed this Stock Purchase Agreement on the day and
year first indicated above. 
  

			
	 MAVENIR SYSTEMS, INC.

		
	 By:
	 	 
	 Name:
	 	 
	 Title:
	 	 
	
	 OPTIONEE

		
	 Signature:
	 	 
	 Print Name: 
	 	 
	 Address:
	 	 
		
	 	 	 

  
 Exhibit C
to Notice of Grant of Stock Option (Early Exercise) 
 Page 8 

 SPOUSAL ACKNOWLEDGMENT 

The undersigned spouse of Optionee has read and hereby approves the foregoing Stock Purchase Agreement. In consideration of the
Company’s granting Optionee the right to acquire the Purchased Shares in accordance with the terms of such Agreement, the undersigned hereby agrees to be irrevocably bound by all the terms of such Agreement, including (without limitation) the
right of the Company (or its assigns) to purchase any Purchased Shares in which Optionee is not vested at time of his or her cessation of Service. 
  

			
	 
	 OPTIONEE’S SPOUSE

		
	 Address: 
	 	 
		
		 	 

 EXHIBIT I 
 ASSIGNMENT SEPARATE FROM CERTIFICATE 

 ASSIGNMENT SEPARATE FROM CERTIFICATE 

FOR VALUE RECEIVED _________________________ hereby sell(s), assign(s) and transfer(s) unto Mavenir Systems, Inc. (the
“Company”), _______________ (            ) shares of the Common Stock of the Company standing in his or her name on the books of the Company represented by
Certificate No. _________ herewith and do(es) hereby irrevocably constitute and appoint _____________________, Attorney to transfer the said stock on the books of the Company with full power of substitution in the premises. 

 

					
	 Dated:
                                         
               
	  		  	
		  	                    Signature: 	  	 

 Instruction: Please do not fill in any blanks other than the signature line. Please sign exactly as you would like
your name to appear on the issued stock certificate. The purpose of this assignment is to enable the Company to exercise the Repurchase Right without requiring additional signatures on the part of Optionee. 

  
 Exhibit C-I to
Notice of Grant of Stock Option (Early Exercise) 
 Page 1 

 EXHIBIT II 
 FEDERAL INCOME TAX CONSEQUENCES AND 
 SECTION 83(b) TAX ELECTION

 FEDERAL INCOME TAX CONSEQUENCES AND 

SECTION 83(b) TAX ELECTION 

H. Federal Income Tax Consequences and Section 83(b) Election For Exercise of Non-Qualified Option. If the Purchased Shares are
acquired pursuant to the exercise of a Non-Qualified Stock Option, as specified in the Grant Notice, then under Code Section 83, the excess of the Fair Market Value of the Purchased Shares on the date any forfeiture restrictions applicable to
such shares lapse over the Exercise Price paid for those shares will be reportable as ordinary income on the lapse date. For this purpose, the term “forfeiture restrictions” includes the right of the Company to repurchase the
Purchased Shares pursuant to the Repurchase Right. However, Optionee may elect under Code Section 83(b) to be taxed at the time the Purchased Shares are acquired, rather than when and as such Purchased Shares cease to be subject to such
forfeiture restrictions. Such election must be filed with the Internal Revenue Service within thirty (30) days after the date of the Agreement. Even if the Fair Market Value of the Purchased Shares on the date of the Agreement equals the
Exercise Price paid (and thus no tax is payable), the election must be made to avoid adverse tax consequences in the future. The form for making this election is attached as part of this exhibit. FAILURE TO MAKE THIS FILING WITHIN THE APPLICABLE
THIRTY (30)-DAY PERIOD WILL RESULT IN THE RECOGNITION OF ORDINARY INCOME BY OPTIONEE AS THE FORFEITURE RESTRICTIONS LAPSE. 
 I.
Federal Income Tax Consequences and Conditional Section 83(b) Election For Exercise of Incentive Stock Option. If the Purchased Shares are acquired pursuant to the exercise of an Incentive Stock Option, as specified in the Grant
Notice, then the following tax principles shall be applicable to the Purchased Shares: 
 1. For regular tax purposes, no taxable
income will be recognized at the time the Option is exercised. 
 2. The excess of (a) the Fair Market Value of the
Purchased Shares on the date the Option is exercised or (if later) on the date any forfeiture restrictions applicable to the Purchased Shares lapse over (b) the Exercise Price paid for the Purchased Shares will be includible in Optionee’s
taxable income for alternative minimum tax purposes. 
 3. If Optionee makes a disqualifying disposition of the Purchased
Shares, then Optionee will recognize ordinary income in the year of such disposition equal in amount to the excess of (a) the Fair Market Value of the Purchased Shares on the date the Option is exercised or (if later) on the date any forfeiture
restrictions applicable to the Purchased Shares lapse over (b) the Exercise Price paid for the Purchased Shares. Any additional gain recognized upon the disqualifying disposition will be either short-term or long-term capital gain depending
upon the period for which the Purchased Shares are held prior to the disposition. 
 4. For purposes of the foregoing, the term
“forfeiture restrictions” will include the right of the Company to repurchase the Purchased Shares pursuant to the Repurchase Right. The term “disqualifying disposition” means any sale or other disposition1 of the Purchased Shares within two (2) years after the Grant
Date or within one (1) year after the exercise date of the Option. 
  

	1 	 Generally, a disposition of shares purchased under an Incentive Stock Option includes any transfer of legal title, including a transfer by sale,
exchange or gift, but does not include a transfer to the Optionee’s spouse, a transfer into joint ownership with right of survivorship if Optionee remains one of the joint owners, a pledge, a transfer by bequest or inheritance or certain
tax-free exchanges permitted under the Code. 

  
 Exhibit C-II
to Notice of Grant of Stock Option (Early Exercise) 
 Page 1 

 5. The Code Section 83(b) election will be effective in limiting Optionee’s
alternative minimum taxable income to the excess of the Fair Market Value of the Purchased Shares at the time the Option is exercised over the Exercise Price paid for those shares. 

Page 2 of the attached form for making the election should be filed with any election made in connection with the exercise of an
Incentive Stock Option. 

  
 Exhibit C-II
to Notice of Grant of Stock Option (Early Exercise) 
 Page 2 

 SECTION 83(b) ELECTION 

This statement is being made under Section 83(b) of the Internal Revenue Code, pursuant to Treas. Reg. Section 1.83-2.

  

					
	(1)    	  	The taxpayer who performed the services is:
		
		  	 Name:
                                         
                                         
                  
 Address:
                                         
                                         
               
 Taxpayer Ident. No.:
                                         
                                     

		
	(2)	  	The property with respect to which the election is being made is _____________ shares of the Common Stock of Mavenir Systems, Inc.
		
	(3)	  	The property was issued on ______________, _____.
		
	(4)	  	The taxable year in which the election is being made is the calendar year _____.
		
	(5)	  	The property is subject to a repurchase right pursuant to which the issuer has the right to acquire the property at the lower of the purchase price paid per share or
the fair market value per share, if for any reason taxpayer’s service with the issuer terminates. The issuer’s repurchase right will lapse in a series of annual installments over a four (4)-year period ending on ___________,
20__.
		
	(6)	  	The fair market value at the time of transfer (determined without regard to any restriction other than a restriction which by its terms will never lapse) is $
__________ per share.
		
	(7)	  	The amount paid for such property is $___________ per share.
		
	(8)	  	A copy of this statement was furnished to Mavenir Systems, Inc. for whom taxpayer rendered the services underlying the transfer of property.
		
	(9)	  	This statement is executed on _________________, 20___.

							
				
		  		  		 	
	Spouse (if any)	  		 	Taxpayer
	
	This election must be filed with the Internal Revenue Service Center with which taxpayer files his or her Federal income tax returns and must be made within thirty
(30) days after the execution date of the Stock Issuance Agreement. This filing should be made by registered or certified mail, return receipt requested. Participant must retain two (2) copies of the completed form for filing with his or her Federal
and state tax returns for the current tax year and an additional copy for his or her records.

 THIS PAGE 2 IS TO BE ATTACHED TO ANY SECTION 83(b) ELECTION FILED IN CONNECTION WITH THE EXERCISE
OF AN INCENTIVE STOCK OPTION UNDER THE FEDERAL TAX LAWS. 
 The property described in the above Section 83(b) election is
comprised of shares of common stock acquired pursuant to the exercise of an incentive stock option under Section 422 of the Internal Revenue Code (the “Code”). Accordingly, the purpose of this election is to have the
alternative minimum taxable income attributable to the purchased shares measured by the amount by which the fair market value of such shares at the time of their transfer to the Taxpayer exceeds the purchase price paid for the shares. In the absence
of this election, such alternative minimum taxable income would be measured by the spread between the fair market value of the purchased shares and the purchase price which exists on the various lapse dates in effect for the forfeiture restrictions
applicable to such shares.

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