CEO Eric Kelly Now Also President of Overland

On January 5, 2010, the Board of Directors of Overland Storage, upon the recommendation of the Nominating and Governance Committee of our Board of Directors, appointed Eric L. Kelly as President. Mr. Kelly will continue to serve as Chief Executive Officer and as a member of the Board of Directors. The board did not enter into or amend any plan, contract or arrangement between Overland and Mr. Kelly in connection with his appointment as our President.

 Mr. Kelly, age 51, has served as Chief Executive Officer since January 2009 and a member of the Board of Directors since November 2007.

From April 2007 to January 2009, he served as president of Silicon Valley Management Partners, Inc., a management consulting and M&A advisory firm, which he co-founded in April 2007. From July 2004 to August 2006, Mr. Kelly was Vice President and General Manager of storage systems solutions at Adaptec, Inc. From August 2002 to July 2004, he served as President and CEO of Snap Appliance, Inc., which was acquired by Adaptec. From March 2000 to June 2002, Mr. Kelly served as President, Network Systems Division of Maxtor Corporation. Prior to Maxtor, he served as the Chief Operating Officer of Isyndicate, Inc. From July 1998 to January 2000 he was the Enterprise Vice President for Dell Computer Corporation. From 1980 to 1998 he served in executive or managerial roles with Netpower Incorporated, Diamond Multimedia Systems Incorporated, Conner Peripherals Incorporated, Marq Technologies Incorporated and IBM.