X0303 4 2010-01-04 0 0001138723 ACCURAY INC ARAY 0001206971 DAVILA ELIZABETH H 1310 CHESAPEAKE TERRACE SUNNYVALE CA 94089 1 0 0 0 Non-Qualified Stock Option (right to buy) 5.68 2010-01-04 4 A 0 36795 0 A 2020-01-04 Common Stock 36795 36795 D This grant is based on annual option grant guidelines for each non-employee director receiving an annual option grant equal to the number of shares obtained by dividing $120,000 by the Black-Scholes valuation of one share of our common stock. As of January 4, 2010, the Black-Scholes valuation of one share of our common stock was $3.2613. These options are exercisable as they vest. Fifty percent (50%) of the shares subject to this stock option become vested and fully exercisable in equal monthly installments, ratably over a period of 12-months. The remaining fifty percent (50%) of the shares become vested and fully exercisable in equal monthly installments, ratably over the next period of 24-months. Elizabeth Davila 2010-01-05