Document:

1999 Director Option Plan, as amended

 Exhibit 10.5 
 AVANEX CORPORATION 
 1999 DIRECTOR OPTION PLAN 
 (as amended and restated effective November 3, 2006*) 
 1. Purposes of the Plan. The purposes of this 1999 Director Option Plan are to attract and retain the best available personnel for service as Outside Directors (as defined herein) of the Company, to provide
additional incentive to the Outside Directors of the Company to serve as Directors, and to encourage their continued service on the Board. 
 All options
granted hereunder shall be nonstatutory stock options. Restricted Stock Units may also be granted under the Plan. 
 2. Definitions. As used
herein, the following definitions shall apply: 
 (a) “Award” means, individually or collectively, a grant under the Plan of
Options or Restricted Stock Units. 
 (b) “Award Agreement” means the written or electronic agreement setting forth the terms
and provisions applicable to each Award granted under the Plan. The Award Agreement is subject to the terms and conditions of the Plan. 
 (c)
“Awarded Stock” means the Common Stock subject to an Award. 
 (d) “Beneficial Owner” shall mean a
“beneficial owner” (as defined in Rule 13d-3 of the Securities Exchange Act of 1934, as amended), directly or indirectly, of securities of the Company representing 1% or more of the total voting power represented by the Company’s
outstanding voting securities on the date of any grant hereunder. 
 (e) “Board” means the Board of Directors of the Company.

 (f) “Change of Control” means the occurrence of any of the following events: 
 (i) Any “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) becomes the “beneficial owner” (as defined in
Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing fifty percent (50%) or more of the total voting power represented by the Company’s then outstanding voting securities who is not already
such as of the Effective Date; or 
 (ii) The consummation of the sale or disposition by the Company of all or substantially all the
Company’s assets; or 
 (iii) The consummation of a merger or consolidation of the Company with any other corporation, other than a
merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining out-standing or by being converted into voting securities of the surviving entity
or its parent) at least fifty percent (50%) of the total voting power represented by the voting securities of the Company or such surviving entity or its parent outstanding immediately after such merger or consolidation; or 
 (iv) A change in the composition of the Board occurring within a two-year period, as a result of which fewer than a majority of the directors are
Incumbent Directors. “Incumbent Directors” shall mean directors who either (A) are directors of the Company as of the Effective Date, or (B) are elected, or nominated for election, to the Board with the affirmative votes of at
least a majority of those directors whose election or nomination was not in connection with any transaction described in subsections (i), (ii), or (iii) above, or in connection with an actual or threatened proxy contest relating to the election
of directors to the Company. Notwithstanding the foregoing, in no event shall the initial public offering of the Company’s securities pursuant to a registration statement filed under Section 12 of the Exchange Act constitute a Change of
Control. 
 (g) “Code” means the Internal Revenue Code of 1986, as amended. 
 (h) “Common Stock” means the common stock of the Company or, in the case of certain Restricted Stock Units, the cash equivalent thereof.

 (i) “Company” means Avanex Corporation, a Delaware corporation. 
 (j) “Director” means a member of the Board. 
 (k) “Disability” means total and permanent disability as defined in section 22(e)(3) of the Code. 
 (l) “Employee” means any person, including officers and Directors, employed by the Company or any Parent or Subsidiary of the Company. The payment of a Director’s fee by the Company shall not be sufficient in and of
itself to constitute “employment” by the Company. 
 (m) “Exchange Act” means the Securities Exchange Act of 1934,
as amended. 
 (n) “Fair Market Value” means, as of any date, the value of Common Stock determined as follows: 
 (i) If the Common Stock is listed on any established stock exchange or a national market system, including without limitation the Nasdaq National Market
or The Nasdaq SmallCap Market of The Nasdaq Stock Market, its Fair Market Value shall be the closing sales price for such stock (or the closing bid, if no sales were reported) as quoted on such exchange or system for the last market trading day
prior to the time of determination as reported in The Wall Street Journal or such other source as the Administrator deems reliable; 
 (ii) If the Common Stock is regularly quoted by a recognized securities dealer but selling prices are not reported, the Fair Market Value of a Share of Common Stock shall be the mean between the high bid and low asked prices for the Common
Stock for the last market trading day prior to the time of determination, as reported in The Wall Street Journal or such other source as the Board deems reliable; or 
 (iii) In the absence of an established market for the Common Stock, the Fair Market Value thereof shall be determined in good faith by the Board.

 (o) “Inside Director” means a Director who is an Employee. 
 (p) “Option” means a stock option granted pursuant to the Plan. 
 (q) “Optionee” means a Director who holds an Option. 
  

	*	Following the close of market on August 12, 2008, Avanex Corporation effected a fifteen-for-one reverse stock split of its common stock. Accordingly, each fifteen shares of issued
and outstanding Avanex common stock and equivalents as of the close of market on August 12, 2008 was converted into one share of common stock, and the reverse stock split was reflected in the trading price of Avanex’s common stock at the
opening of market on August 13, 2008. All share amounts and per share prices appearing in this 1999 Director Option Plan reflect the reverse stock split. 

 (r) “Outside Director” means a Director who is not an Employee and who is not the
Beneficial Owner. 
 (s) “Parent” means a “parent corporation,” whether now or hereafter existing, as defined in
Section 424(e) of the Code. 
 (t) “Participant” means a Director who holds of an outstanding Award granted under the
Plan. 
 (u) “Plan” means this 1999 Director Option Plan, as it may be amended from time to time. 
 (v) “Restricted Stock Unit” means a bookkeeping entry representing an amount equal to the Fair Market Value of one Share, granted
pursuant to the Plan Each (and therefore shall be the equivalent of one Share for purposes of determining the number of Shares subject to an Award). Each Restricted Stock Unit represents an unfunded and unsecured obligation of the Company.

 (w) “Share” means a share of the Common Stock, as adjusted in accordance with Section 10 of the Plan. 
 (x) “Subsidiary” means a “subsidiary corporation,” whether now or hereafter existing, as defined in Section 424(f) of the
Internal Revenue Code of 1986. 
 3.
Stock Subject to the Plan. Subject to the provisions of Section 10 of the Plan, the maximum aggregate number of Shares which may be awarded and sold under the Plan is 20,000 Shares (the “Pool”), plus an
annual increase to be added on the first day of the Company’s fiscal year beginning on January 1, 2001, equal to the lesser of (i) 10,000 shares, (ii)  1/4 of 1% of the outstanding shares on such date or (iii) a lesser amount determined by the Board. The Shares may be authorized, but unissued, or reacquired Common Stock. 
 If an Award expires or becomes unexercisable without having been exercised in full, or, with respect to Restricted Stock Units, is forfeited back to or repurchased by
the Company, the unpurchased, forfeited or repurchased Shares which were subject thereto shall become available for future grant or sale under the Plan (unless the Plan has terminated). Shares that have actually been issued under the Plan shall not
be returned to the Plan and shall not become available for future distribution under the Plan. 
 4. Administration and Grants of Awards under
the Plan. 
 (a) Procedure for Grants. All grants of Awards to Outside Directors under this Plan shall be automatic and
nondiscretionary and shall be made strictly in accordance with the following provisions: 
 (i) No person shall have any discretion to select
which Outside Directors shall be granted Awards or to determine the number of Shares to be covered by Awards. 
 (ii) Each Outside Director
shall be automatically granted an Option to purchase 5,333 Shares (the “First Option”) on the date on which the later of the following events occurs: (A) the effective date of this Plan, as determined in accordance with Section 6
hereof, or (B) the date on which such person first becomes an Outside Director, whether through election by the shareholders of the Company or appointment by the Board to fill a vacancy; provided, however, that an Inside Director or Beneficial
Owner who ceases to be an Inside Director or Beneficial Owner but who remains a Director shall not receive a First Option. 
 (iii) Each
Outside Director shall be automatically granted an Option to purchase 1,333 Shares (a “Subsequent Option”) on the date of the Company’s annual stockholder’s meeting each year provided he or she is then an Outside Director and if
as of such date, he or she shall have served on the Board for at least the preceding six (6) months. 
 (iv) Notwithstanding the
provisions of subsections (ii) and (iii) hereof, any exercise of an Option granted before the Company has obtained shareholder approval of the Plan in accordance with Section 16 hereof shall be conditioned upon obtaining such
shareholder approval of the Plan in accordance with Section 16 hereof. 
 (v) The terms of a First Option granted hereunder shall be as
follows: 
 (1) the term of the First Option shall be ten (10) years. 
 (2) the First Option shall be exercisable only while the Outside Director remains a Director of the Company, except as set forth in Sections 8 and 10
hereof. 
 (3) the exercise price per Share shall be 100% of the Fair Market Value per Share on the date of grant of the First Option.

 (4) subject to Section 10 hereof, the First Option shall vest and become exercisable as to twenty-five percent (25%) of the
Shares subject to the First Option on each anniversary of its date of grant, provided that the Optionee continues to serve as a Director on such dates. 
 (vi) The terms of a Subsequent Option granted hereunder shall be as follows: 
 (1) the term of the
Subsequent Option shall be ten (10) years. 
 (2) the Subsequent Option shall be exercisable only while the Outside Director remains a
Director of the Company, except as set forth in Sections 8 and 10 hereof. 
 (3) the exercise price per Share shall be 100% of the Fair
Market Value per Share on the date of grant of the Subsequent Option. 
 (4) subject to Section 10 hereof, the Subsequent Option shall
vest and become exercisable as to one-hundred percent (100%) of the Shares subject to the Subsequent Option on the one-year anniversary of its date of grant, provided that the Optionee continues to serve as a Director on such date. 

(vii) Each Outside Director shall be automatically granted 666 Restricted Stock Units (a “Restricted Stock Unit Grant”) on the date of the
Company’s annual stockholder’s meeting each year provided he or she is then an Outside Director and if as of such date, he or she shall have served on the Board for at least the preceding six (6) months. 
 (viii) The terms of a Restricted Stock Unit Grant granted hereunder shall be as follows: 
 (1) Subject to Section 10 hereof, the Restricted Stock Unit Grant shall vest as to one-hundred percent (100%) of the Shares subject to the
Restricted Stock Unit Grant on the one-year anniversary of its date of grant, provided that the Participant continues to serve as a Director on such date. 
 (2) Upon vesting, the Shares subject to the vested portion of the Restricted Stock Unit Grant shall be deemed earned and the Participant shall be entitled to receive a payout as specified in the Award Agreement.
Earned Restricted Stock Units shall be paid in Shares. 
 (3) Payment of earned Restricted Stock Units shall be made as soon as practicable
after vesting. 

 (4) Subject to Section 10 hereof, in the event a Participant’s status as a Director terminates
for any reason, all unearned Restricted Stock Units shall be forfeited to the Company. 
 (ix) In the event that any Award granted under the
Plan would cause the number of Shares subject to outstanding Awards plus the number of Shares previously purchased under Options or issued pursuant to Restricted Stock Units to exceed the Pool, then the remaining Shares available for Award grant
shall be granted under Awards to the Outside Directors on a pro rata basis. No further grants shall be made until such time, if any, as additional Shares become available for grant under the Plan through action of the Board or the shareholders to
increase the number of Shares which may be issued under the Plan or through cancellation or expiration, forfeiture or repurchase of Awards previously granted hereunder. 
 5. Eligibility. Awards may be granted only to Outside Directors. All Awards shall be automatically granted in accordance with the terms set forth in Section 4 hereof. 
 The Plan shall not confer upon any Participant any right with respect to continuation of service as a Director or nomination to serve as a Director, nor shall it
interfere in any way with any rights which the Director or the Company may have to terminate the Director’s relationship with the Company at any time. 
 6. Term of Plan. The Plan shall become effective upon the earlier to occur of its adoption by the Board or its approval by the shareholders of the Company as described in Section 16 of the Plan. It shall continue
in effect for a term of ten (10) years unless sooner terminated under Section 11 of the Plan. 
 7. Form of Consideration. The
consideration to be paid for the Shares to be issued upon exercise of an Option, including the method of payment, shall consist of (i) cash, (ii) check, (iii) other shares which (x) in the case of Shares acquired upon exercise of
an option, have been owned by the Optionee for more than six (6) months on the date of surrender, and (y) have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to which said Option shall
be exercised, (iv) consideration received by the Company under a cashless exercise program implemented by the Company in connection with the Plan, or (v) any combination of the foregoing methods of payment. 
 8. Exercise of Option. 
 (a)
Procedure for Exercise; Rights as a Shareholder. Any Option granted hereunder shall be exercisable at such times as are set forth in Section 4 hereof; provided, however, that no Options shall be exercisable until shareholder
approval of the Plan in accordance with Section 16 hereof has been obtained. 
 An Option may not be exercised for a fraction of a Share. 
 An Option shall be deemed to be exercised when written notice of such exercise has been given to the Company in accordance with the terms of the Option by the person
entitled to exercise the Option and full payment for the Shares with respect to which the Option is exercised has been received by the Company. Full payment may consist of any consideration and method of payment allowable under Section 7 of the
Plan. Until the issuance (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company) of the stock certificate evidencing such Shares, no right to vote or receive dividends or any other
rights as a shareholder shall exist with respect to the Awarded Stock, notwithstanding the exercise of the Option. A share certificate for the number of Shares so acquired shall be issued to the Optionee as soon as practicable after exercise of the
Option. No adjustment shall be made for a dividend or other right for which the record date is prior to the date the stock certificate is issued, except as provided in Section 10 of the Plan. 
 Exercise of an Option in any manner shall result in a decrease in the number of Shares which thereafter may be available, both for purposes of the Plan and for sale
under the Option, by the number of Shares as to which the Option is exercised. 
 (b) Termination of Continuous Status as a
Director. Subject to Section 10 hereof, in the event an Optionee’s status as a Director terminates (other than upon the Optionee’s death or Disability), the Optionee may exercise his or her Option, but only within three
(3) months following the date of such termination (unless otherwise provided in the Optionee’s option agreement), and only to the extent that the Optionee was entitled to exercise it on the date of such termination (but in no event later
than the expiration of its ten (10) year term). To the extent that the Optionee was not entitled to exercise an Option on the date of such termination, and to the extent that the Optionee does not exercise such Option (to the extent otherwise
so entitled) within the time specified herein, the Option shall terminate. 
 (c) Disability of Optionee. In the event
Optionee’s status as a Director terminates as a result of Disability, the Optionee may exercise his or her Option, but only within twelve (12) months following the date of such termination, and only to the extent that the Optionee was
entitled to exercise it on the date of such termination (but in no event later than the expiration of its ten (10) year term). To the extent that the Optionee was not entitled to exercise an Option on the date of termination, or if he or she
does not exercise such Option (to the extent otherwise so entitled) within the time specified herein, the Option shall terminate. 
 (d)
Death of Optionee. In the event of an Optionee’s death, the Optionee’s estate or a person who acquired the right to exercise the Option by bequest or inheritance may exercise the Option, but only within twelve
(12) months following the date of death, and only to the extent that the Optionee was entitled to exercise it on the date of death (but in no event later than the expiration of its ten (10) year term). To the extent that the Optionee was
not entitled to exercise an Option on the date of death, and to the extent that the Optionee’s estate or a person who acquired the right to exercise such Option does not exercise such Option (to the extent otherwise so entitled) within the time
specified herein, the Option shall terminate. 
 9. Non-Transferability of Awards. The Award may not be sold, pledged, assigned, hypothecated,
transferred, or disposed of in any manner other than by will or by the laws of descent or distribution and may be exercised, during the lifetime of the Participant, only by the Participant. 
 10. Adjustments Upon Changes in Capitalization, Dissolution, Merger or Asset Sale. 
 (a) Changes in Capitalization. Subject to any required action by the shareholders of the Company, the number of Shares covered by each
outstanding Award, the number of Shares which have been authorized for issuance under the Plan but as to which no Awards have yet been granted or which have been returned to the Plan upon cancellation, forfeiture or expiration of an Award, as well
as the price per Share covered by each such outstanding Award, and the number of Shares issuable pursuant to the automatic grant provisions of Section 4 hereof shall be proportionately adjusted for any increase or decrease in the number of
issued Shares resulting from a stock split, reverse stock split, stock dividend, combination or reclassification of the Common Stock, or any other increase or decrease in the number of issued Shares effected without receipt of consideration by the
Company; provided, however, that conversion of any convertible securities of the Company shall not be deemed to have been “effected without receipt of consideration.” Except as expressly provided herein, no issuance by the Company of
shares of stock of any class, or securities convertible into shares of stock of any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number or price of Shares subject to an Award. 
 (b) Dissolution or Liquidation. In the event of the proposed dissolution or liquidation of the Company, to the extent that an Option has not
been previously exercised or a Restricted Stock Unit has not vested, it shall terminate immediately prior to the consummation of such proposed action. 
 (c) Merger or Asset Sale. In the event of a merger of the Company with or into another corporation or the sale of all or substantially all of the assets of the Company, outstanding Awards may be assumed or
equivalent awards may be substituted by the successor corporation or a Parent or Subsidiary thereof (the “Successor Corporation”). If an Award is assumed or substituted for, the Option or equivalent option shall continue to be exercisable
and the Restricted Stock Unit or an equivalent award shall continue to vest, as provided in Section 4 hereof for so long as the Participant serves as a Director or a director of the Successor Corporation. Thereafter, the Option or option shall
remain exercisable in accordance with Sections 8(b) through (d) above, and the Restricted Stock Unit shall terminate in accordance with Section 4. If the Successor Corporation does not assume an outstanding Award or substitute for it an
equivalent award, the Award shall become fully 

 
vested and, in the case of an Option, exercisable, including as to Shares for which it would not otherwise be vested or exercisable. In such event the Board
shall notify the Participant that (i) the Option shall be fully exercisable for a period of thirty (30) days from the date of such notice, and upon the expiration of such period the Option shall terminate, and (ii) the Restricted
Stock Unit shall be paid out immediately prior to the merger or sale of all or substantially all of the assets. 
 For the purposes of this
Section 10(c), an Award shall be considered assumed if, following the merger or sale of assets, the Award confers the right to purchase or receive, for each Share of Awarded Stock subject to the Award immediately prior to the merger or sale of
assets, the consideration (whether stock, cash, or other securities or property) received in the merger or sale of assets by holders of Common Stock for each Share held on the effective date of the transaction (and if holders were offered a choice
of consideration, the type of consideration chosen by the holders of a majority of the outstanding Shares). If such consideration received in the merger or sale of assets is not solely common stock of the successor corporation or its Parent, the
Administrator may, with the consent of the successor corporation, provide for the consideration to be received upon the exercise of the Award, for each Share of Awarded Stock subject to the Award, to be solely common stock of the successor
corporation or its Parent equal in fair market value to the per share consideration received by holders of Common Stock in the merger or sale of assets. 
 Notwithstanding the foregoing, in the event of a Change of Control, (i) each outstanding Option shall accelerate and become fully vested and exercisable immediately prior to such Change of Control with respect to one hundred percent
(100%) of the Shares then subject to each outstanding Option, and (ii) each outstanding Restricted Stock Unit Grant shall accelerate and become fully vested and earned immediately prior to such Change of Control with respect to one hundred
percent (100%) of the Shares then subject to each outstanding Restricted Stock Unit Grant. 
 11.
Amendment and Termination of the Plan. 
 (a) Amendment and Termination. The Board may at any time
amend, alter, suspend, or discontinue the Plan, but no amendment, alteration, suspension, or discontinuation shall be made which would impair the rights of any Participant under any grant theretofore made, without his or her consent. In addition, to
the extent necessary and desirable to comply with any applicable law, regulation or stock exchange rule, the Company shall obtain shareholder approval of any Plan amendment in such a manner and to such a degree as required. 
 (b) Effect of Amendment or Termination. Any such amendment or termination of the Plan shall not affect Awards already
granted and such Awards shall remain in full force and effect as if this Plan had not been amended or terminated. 
 12.
Time of Granting Awards. The date of grant of an Award shall, for all purposes, be the date determined in accordance with Section 4 hereof. 
 13. Conditions Upon Issuance of Shares. Shares shall not be issued pursuant to the exercise of an Option or the vesting of Restricted Stock Units unless the exercise or vesting, as
applicable, of such Award and the issuance and delivery of such Shares pursuant thereto shall comply with all relevant provisions of law, including, without limitation, the Securities Act of 1933, as amended, the Exchange Act, the rules and
regulations promulgated thereunder, state securities laws, and the requirements of any stock exchange upon which the Shares may then be listed, and shall be further subject to the approval of counsel for the Company with respect to such compliance.

 As a condition to the exercise of an Award, the Company may require the person exercising such Award or receiving Shares subject to a Restricted Stock
Unit Grant to represent and warrant at the time of any such exercise or receipt 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 of the aforementioned relevant provisions of law. 
 Inability of the Company to obtain authority from any
regulatory body having jurisdiction, which authority is deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any Shares hereunder, shall relieve the Company of any liability in respect of the failure to issue or
sell such Shares as to which such requisite authority shall not have been obtained. 
 14. Reservation of Shares. The Company, during
the term of this Plan, will at all times reserve and keep available such number of Shares as shall be sufficient to satisfy the requirements of the Plan. 
 15. Award Agreement. Awards shall be evidenced by written Award Agreements in such form as the Board shall approve. 
 16.
Shareholder Approval. The Plan shall be subject to approval by the shareholders of the Company within twelve (12) months after the date the Plan is adopted. Such shareholder approval shall be obtained in the degree and manner required
under applicable state and federal law and any stock exchange rules.Officer and Director Share Purchase Plan and Election Form

 Exhibit 10.6 
 AVANEX CORPORATION 
 Officer and Director Share Purchase Plan* 
 1. Purpose. The purpose of the Plan is to provide a convenient method by which Eligible Individuals of the Company may purchase fully vested Company common
stock at fair market value. This Plan is effective as of April 7, 2008. 
 2. Definitions. 
 2.1 “1934 Act” means the Securities Exchange Act of 1934, as amended. Reference to a specific section of the 1934 Act or regulation
thereunder shall include such section or regulation, any valid regulation promulgated under such section, and any comparable provision of any future legislation or regulation amending, supplementing or superseding such section or regulation.

 2.2 “Board” means the Board of Directors of the Company. 
 2.3 “Committee” means the Compensation Committee of the Board. 
 2.4 “Company” means Avanex Corporation. 
 2.5 “Director” means a nonemployee member of the Board. 
 2.6 “Eligible
Individual” means an Officer or Director who has been designated by the Committee as eligible to participate in the Plan. 
 2.7
“Fair Market Value” means the last quoted per share selling price for Shares on the relevant date, or if there were no sales on such date, the last quoted per share selling price for Shares on the nearest day before the relevant
date. 
 2.8 “Fees” means the cash retainer fees and meeting fees payable to a Director for any given fiscal quarter or
fiscal year of the Company as a result of his or her service on the Board and its committees during the applicable period. 
 2.9
“Officer” means a person who is an officer of the Company within the meaning of Nasdaq guidelines, including all employees with the corporate rank of vice-president or higher. 
 2.10 “Participant” means an Eligible Individual who elects to participate in the Plan in accordance with Section 5.1. 

2.11 “Plan” means this Officer and Director Share Purchase Plan, as it may be amended from time to time. 
 2.12 “Share” means a share of the Company’s common stock. 
 2.13 “Trading Day” means a day on which national stock exchanges and the Nasdaq National Market are open for trading. A Trading Day
begins at the time trading begins on such day. 
 2.14 “Trading Window” means the period commencing at the opening of market
on the third Trading Day following the date of public disclosure of the financial results for a particular fiscal quarter or fiscal year of the Company and continuing until the close of market on the fifteenth Trading Day prior to the close of the
fiscal quarter, provided that during this period no circumstances exist that otherwise closes the Trading Window. 
 3. Administration.

 3.1 The Plan will be interpreted and administered by the Committee, whose actions and interpretations will be final and binding.

 3.2 The Committee, in its sole discretion, will have the power, subject to, and within the limitations of, the express provisions of the
Plan: 
 3.2.1 To interpret and determine the meaning, validity and parameters of the terms and provisions of the Plan and to
determine any question arising under, or in connection with, the administration, operation or validity of the Plan; 
 3.2.2
To determine the form and manner for Participants to make elections under the Plan and to approve forms of election to be used in conjunction with the Plan; 
 3.2.3 To determine the time or times when Eligible Individuals may elect to participate in the Plan or otherwise change such elections;

 3.2.4 To select the Officers and Directors who will be eligible to participate in the Plan from time to time; 

3.2.5 To make any and all determinations as it may deem necessary or appropriate for the administration of the Plan, including the
number of Shares to be issued in exchange for a Participant’s aggregate deductions; 
 3.2.6 To establish, amend and
revoke rules and procedures relating to the Plan (for example, but not by way of limitation, with respect to Eligible Individual elections to participate in the Plan and the delivery of Shares) as it may deem necessary or appropriate for the
administration of the Plan; 
 3.2.3 To employ such brokers, counsel, agents and advisers, and to obtain such broker, legal,
clerical and other services, as it may deem necessary or appropriate in carrying out the provisions of the Plan; and 
 3.2.4
To delegate all or any part of its authority and powers under the Plan to one or more officers or employees of the Company, including with respect to the day-to-day administration of the Plan. 
 4. Share Subject to the Plan. 
 4.1 Subject to
adjustment as provided in Section 4.2, the total number of Shares available for issuance under the Plan shall equal one hundred thirty-three thousand three hundred thirty-three (133,333). Shares granted under the Plan may be either authorized
but unissued Shares or treasury Shares. 
  

	*	Following the close of market on August 12, 2008, Avanex Corporation effected a fifteen-for-one reverse stock split of its common stock. Accordingly, each fifteen shares of issued
and outstanding Avanex common stock and equivalents as of the close of market on August 12, 2008 was converted into one share of common stock, and the reverse stock split was reflected in the trading price of Avanex’s common stock at the
opening of market on August 13, 2008. All share amounts and per share prices appearing in this Officer and Director Share Plan reflect the reverse stock split. 

 4.2 In the event that any dividend or other distribution (whether in the form of cash, Shares, other
securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the
corporate structure of the Company affecting the Shares, then the Committee shall, in such manner as it may deem equitable, adjust the number and class of Shares which may be delivered under the Plan. Notwithstanding the preceding, the number of
Shares available for issuance under the Plan always shall be a whole number. 
 5. Election to Purchase Shares. 
 5.1 Elections. 
 (i)
Each Eligible Individual’s decision to participate in the Plan shall be entirely voluntary. An Eligible Individual may become a Participant in the Plan by enrolling or re-enrolling in the Plan during a Trading Window, provided that the
Participant does not otherwise possess material non-public information concerning the Company (within the meaning of the 1934 Act) at the time of his or her election. In order to enroll, an Eligible Individual must complete, sign and submit to the
Company an election form, in such form as the Committee will determine in its sole discretion. 
 (ii) On his or her election
form, each Eligible Individual must authorize payroll deductions or, in the case of Directors, deductions from Fees for the purposes of purchasing fully vested Shares. Any deductions for this Plan will occur after normal and appropriate withholding
for all Federal and State taxes and after voluntary withholdings for participation in other Company benefit plans. With respect to Officers, the payroll deductions may not reduce the individual’s compensation below an amount equal to two
(2) times the federal or applicable state minimum wage, whichever is higher, required to be paid each pay period. Payroll deductions for a Participant who is an Officer will commence with the first full payroll period immediately following the
date the Participant submits a properly completed election form to the Company. Deductions from Fees for a Participant who is a Director will commence on the first day on which the foregone Fees would have been paid to the Director and will apply
only to Fees earned and paid after the date the Participant submits a properly completed election form to the Company. 
 5.2 Duration of
Elections. An Eligible Individual’s election form will remain in effect unless amended or terminated as provided in Section 5.3. 
 5.3 Amendment or Termination of Elections. 
 (i) A Participant may terminate his or her participation in the
Plan at any time by providing notice of termination to the Company in a manner and pursuant to such procedures as the Committee may determine from time to time. A Participant’s election to terminate participation shall be effective as soon as
administratively practicable following the Company’s receipt of the Participant’s notice of termination, provided that the Participant has certified that his or her decision to terminate participation is made in good faith and in full
compliance with both the letter and spirit of all federal and state securities laws. 
 (ii) A Participant may increase or
decrease the rate of his or her payroll deductions or Fee deductions, as applicable, by submitting a new election form to the Company at any time during a Trading Window, provided that the Participant does not otherwise possess material non-public
information concerning the Company (within the meaning of the 1934 Act) at the time of his or her new election. Notwithstanding the foregoing, a Participant may not decrease the rate of his or her deductions below 1% of his or her compensation or
Fees, as applicable. Provided that a Participant has properly submitted a completed election form, the change in payroll or Fee deduction rate will be effective as soon as administratively practicable following the date the Company receives the
Participant’s new election form and will apply only to compensation or Fees earned after such date. 
 6. Purchase and Delivery of Shares.

 6.1 On, or as soon as administratively practicable following, each payroll date or, in the case of Directors, each date on which Fees
would otherwise be paid, each Participant’s aggregate deductions for the applicable period will be converted into fully vested Shares based on the Fair Market Value of a Share on such date. No fractional Shares will be purchased. Any payroll or
Fee deductions which are not sufficient to purchase a full Share will be paid to the Participant in cash. 
 6.2 Shares paid out to a
Participant under the Plan will be delivered electronically to the Participant’s broker as indicated in the Participant’s election form or, if not specified, to the Participant’s broker(s) of record as listed in the Company’s
records at the time of delivery. 
 7. Amendment or Termination of the Plan. The Committee may, at any time and for any reason, amend or
terminate the Plan without regard to whether the amendment or termination may adversely affect any Participant. Without limiting the generality of the foregoing, such amendment or termination may be effective immediately notwithstanding that
(i) elections have been made and are then in effect and (ii) deductions have been withheld but not yet applied to the purchase of Shares, in which case such deductions will be paid to the Participant in cash as soon as administratively
practicable. No amendment or modification will require the consent of any Participants. 
 8. No Guarantee of Future Service. Neither the
establishment or maintenance of the Plan, the purchase of Shares, nor any action of the Company or the Committee, will be held or construed to confer upon any Officer any right to be continued as an employee of the Company nor, upon dismissal, any
right or interest in any specific assets of the Company other than as provided in the Plan. The Company expressly reserves the right to discharge any Officer at any time, with or without cause. 
 9. Tax Reporting. The participant will be responsible for reporting and paying any and all federal, state, or any other tax liabilities that arise from
selling or otherwise disposing of the Shares. At any time, the Company may, but will not be obligated to, withhold from the Participant’s compensation the amount necessary for the Company to meet applicable withholding obligations, including
any withholding required to make available to the Company any tax deductions or benefits attributable to the issuance, sale or disposition of Shares by the Participant. 
 10. Choice of Law. All questions concerning the construction, validity, and interpretation of the Plan will be governed by the law of the State of California, exclusive of the conflict of laws provisions
thereof. 
 11. Severability. In the event any provision of the Plan shall be held illegal or invalid for any reason, the illegality or
invalidity shall not affect the remaining parts of the Plan, and the Plan shall be construed and enforced as if the illegal or invalid provision had not been included. 
 12. Requirements of Law. The Company shall not be required to issue any certificate or certificates for Shares hereunder prior to fulfillment of all the following conditions: (a) the admission of
such Shares to listing on all stock exchanges on which such class of stock is then listed; (b) the completion of any registration or other qualification of such Shares under any U.S. state or federal law or under the rulings or regulations of
the Securities and Exchange Commission or any other governmental regulatory body, which the Committee shall, in its absolute discretion, deem necessary or advisable; and (c) the obtaining of any approval or other clearance from any U.S. state
or federal governmental agency, which the Committee shall, in its absolute discretion, determine to be necessary or advisable. 
 13. Headings.
The headings in the Plan are for convenience only and will not be deemed to constitute a part hereof nor to affect the meaning hereof. 

 AVANEX CORPORATION 
 OFFICER AND DIRECTOR SHARE PURCHASE PLAN 
 ELECTION FORM TO PURCHASE 
 SHARES THROUGH PAYROLL DEDUCTIONS 
 Complete this form if you wish to
participate in the Officer and Director Share Purchase Plan (the “Plan”). The Plan allows you to purchase shares of Avanex Corporation (“Avanex”) common stock pursuant to the terms of the Plan. 
 Plan Overview 
 In order to provide you with a convenient
method of purchasing Avanex shares, Avanex now permits you to elect to purchase fully-vested shares through payroll deduction or, if you are a nonemployee member of Avanex’ Board of Directors, through deduction from your quarterly cash retainer
fees. If you choose to purchase shares by enrolling in the Plan, your election will remain in effect and you will continue to purchase shares at fair market value until such time as you terminate or change your election, you terminate your
employment or service with Avanex or you are otherwise no longer eligible to participate in the Plan. You may terminate your participation in the Plan at any time, provided that you certify that your decision to terminate your participation was made
in good faith and in full compliance with both the letter and spirit of all federal and state securities laws. You may change your election to increase or decrease your deduction rate at any time during an open “Trading Window” (as defined
in the Plan), but only if you do not otherwise possess material non-public information concerning Avanex at the time you change your election. Note, however, that you may not decrease the rate of your deductions below 1% of your compensation or
fees, as applicable. 
 Elections 
 No later than
the beginning of each open “Trading Window,” you will be notified if you are eligible to participate in the Plan. You may submit your Election Form at any time during which the Trading Window is open. On the Election Form, you will
indicate either the percentage or amount that you would like deducted from your compensation or fees, as applicable, for the purpose of purchasing shares. 
 However, if you are an officer of Avanex, please note that, in accordance with applicable employment law requirements, Avanex must pay you an amount at least equal to two (2) times the federal or applicable state minimum wage,
whichever is higher, required to be paid each pay period. As a result, you will not be permitted to reduce your compensation below this amount. For 2008, this amount is $1280 per pay period. 
 In addition, if you are an officer of Avanex, the percentage or amount that you select will be applied to your compensation only after Avanex has deducted from your
compensation the normal and appropriate withholding for all Federal and State taxes and any voluntary withholdings for participation in other Company benefit plans. For example, if your gross compensation per pay period is $10,000 but you receive
only $6,000 after applicable required and voluntary withholdings, the percentage or amount that you select below will apply only to the $6,000 that remain and would ordinarily be paid to you. In this example, if you elect to reduce your cash
compensation by 10% in order to purchase Avanex shares under the Plan, your after-tax cash compensation will be reduced by $600 (10% of 6,000). 
 Please note that, if you are an officer of Avanex, your election will be effective with the first full payroll period immediately following the date you submit a properly completed election form to Avanex. If you are a nonemployee
member of Avanex’ Board of Directors, your election will apply only to fees earned and paid after the date you submit a properly completed election form to Avanex and deductions will commence on the first day on which the foregone fees would
have been paid to you. 
 Your election (including the rate or amount of payroll or fee deduction) will remain in effect until you terminate or
change your election, terminate your relationship with Avanex or otherwise no longer are eligible to participate in the Plan. You may change your election to increase or decrease your deduction rate only during an open “Trading Window,”
but only if you do not otherwise possess material non-public information concerning Avanex at the time you change your election. Trading Windows will typically occur approximately every 3 months, but they may happen less frequently, for example, due
to a blackout period. As a result, please note that your election may remain in effect for a period of time that is longer than three (3) months. 
 Purchase of Shares 
 If you are an officer of Avanex, your aggregate deductions for the payroll period will be converted into fully
vested Avanex shares on, or as soon as administratively practicable following, each payroll date. If you are a nonemployee member of Avanex’ Board of Directors, your aggregate deductions for the applicable period will be converted into fully
vested Avanex shares on, or as soon as administratively practicable following, each date on which fees would otherwise be paid. The number of shares that you will receive will be based on the fair market value of an Avanex share on the applicable
date (as determined in accordance with the terms of the Plan). 
 The shares will not be considered a “purchase” that is subject to liability under
Section 16 of the Securities Exchange Act of 1934, as amended (“Section 16”), but will be subject to Section 16 reporting. This means that you can participate in the Plan even though you may be regularly selling shares under a
10b5-1 plan in connection with the exercise of your stock options or vesting of any restricted stock or restricted stock unit awards. A Form 4 must be filed in connection with each purchase under the Plan. 
 If you would like to enroll in the Plan, please print: 
 Name:
                                         
                            (the “Participant”) 
 Social Security No.:
                                         
    
 Important—Deadline for Completion and Submission of Election Form: You may elect to purchase Avanex shares through
payroll or fee deduction by completing and submitting this Election Form during an open “Trading Window.” If you submit the Election Form at any other time, your election will be null and void. If you choose not to participate in the Plan,
you will be paid your compensation in cash in accordance with Avanex’ normal payroll practices. 
 ELECTION 
 For Directors: 
  

					
	 	 		 	I hereby elect to receive shares of Avanex common stock in lieu of the percentage or the amount of the quarterly cash
		 		 	retainer fees that otherwise would be payable to me, as indicated below, with any remainder to be paid in cash:
			
		 		 	            % of quarterly retainer fees (Choose any whole percentage from 0% to 100%)
			
		 		 	$             (Insert a dollar amount)

 For Officers: 
  

					
	 	 		 	I hereby elect to receive shares of Avanex common stock in lieu of the percentage or the amount of compensation payable to
		 		 	me on each payroll date, as indicated below, with any remainder to be paid in cash:
			
		 		 	            % of cash compensation payable on each payroll date (Choose any whole percentage from 0% to
100%)*
			
		 		 	$             (Insert a dollar amount)*

  

	*	Please note that, notwithstanding your election above, the Company must pay you an amount equal to two (2) times the federal or applicable state minimum wage, whichever
is higher, required to be paid each pay period. As a result, your payroll deductions will not reduce your compensation below this amount. 

 DELIVERY INSTRUCTIONS 
 Please deliver all shares to: 
 Account Number:
                                         
              
 Broker Name:
                                         
                      
 Broker Contact (Phone
Number):                              
 TAXATION 
 For Directors 
 The fair market value of the shares you purchase will be taxable to you as ordinary income. The amount of income you will recognize on the receipt of the shares will be the same amount you would recognize if your fees
had been paid to you in cash. As with cash payments of your retainer fees, Avanex will report the income to you on a Form 1099. However, in accordance with current law, because you are not an employee of Avanex, Avanex will not withhold from your
income to cover your tax liability. 
 If you are a taxpayer in countries other than the United States, you may be subject to additional tax obligations.

 For Officers 
 Your payroll deductions are made
on an after-tax basis. This means that the percentage or amount that you selected above will be applied to your compensation only after Avanex has deducted from your compensation the normal and appropriate withholding for all Federal and State taxes
and any voluntary withholdings for participation in other Company benefit plans. As a result, you will have already been taxed on the compensation that you use for the purpose of purchasing shares. Consequently, in accordance with current law,
Avanex will have no further tax reporting or withholding obligations with respect to the amount of your compensation used to purchase shares. 
 If you are a
taxpayer in countries other than the United States, you may be subject to additional tax obligations. 
 NO REVOCATION OF ELECTION 

After you submit your Election Form, your election will remain in effect until you terminate or change your election, you terminate your employment or service with the
Company or you are otherwise no longer eligible to participate in the Plan. You may terminate your participation in the Plan at any time, provided that you certify that your decision to terminate your participation in the Plan was made in good
faith. You may change your election at any time during a Trading Window (as defined in the Plan), but only if you do not otherwise possess material non-public information concerning Avanex at the time you change your election. Generally, Trading
Windows will typically occur approximately every three (3) months, but they may happen less frequently. This means that your election may remain in effect for a period of time that is longer than three (3) months. 
 DELIVERY 
 Shares paid out pursuant to this election will be
electronically delivered to your broker as listed above or, if none is listed, your broker of record as listed in Avanex’s records at the time of delivery. Payout will be in the form of whole shares of Avanex common stock with the balance in
cash. Delivery will be made as soon as administratively practicable following, each payroll date or, if you are a nonemployee member of Avanex’ Board of Directors, each date on which your fees would otherwise be paid. 

 PARTICIPANT SIGNATURE 
 I understand that my decision to elect to receive shares in lieu of any compensation, retainer and/or meeting fees payable to me will remain in effect until such time as I terminate or change my election, I terminate my employment or
service with Avanex or I am otherwise no longer eligible to participate in the Plan. I understand that I will recognize ordinary income on the fully-vested shares, which will be reported to me on the appropriate form. 
 I understand that the Compensation Committee shall have the discretion to make all determinations and decisions regarding this election. To the extent the Committee
determines that this election does not comply with applicable laws, now or in the future, this election shall be null and void. In such an event, any compensation or fees subject to this election will be paid in cash when they otherwise become due
and owing. 
  

									
	PARTICIPANT	 		 	
					
	Signed: 	 	 	 		 	Date: 	 	 

  

									
			
	Agreed to and accepted:	 		 	
			
	AVANEX CORPORATION	 		 	
					
	By:	 	 	 		 	Date:	 	 
					
	Title:

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