**Exhibit 4.1**

**NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP INC.**

**2006 SHAREINCENTIVE PLAN**

**(As amended by the Board resolutions dated September 28, 2012)**

1. Purposes of the Plan. The purposes of this Plan are to attract and retain the best available personnel, to provide additionalincentives to Employees, Directors and Consultants and to promote the success of the Company’s business. 

2.Definitions. The following definitions shall apply as used herein and in the individual Award Agreements except as defined otherwise in an individual Award Agreement. In the event a term is separately defined in an individual Award Agreement,such definition shall supercede the definition contained in this Section 2. 

(a) “Administrator” meansthe Board or any of the Committees appointed to administer the Plan. 

(b) “Affiliate” and“Associate” shall have the respective meanings ascribed to such terms in Rule 12b-2 promulgated under the Exchange Act. 

(c) “Applicable Laws” means the legal requirements relating to the Plan and the Awards under applicable provisions of the corporate and securities laws of the jurisdiction in which theCompany is incorporated, the Code, the rules of any applicable stock exchange or national market system, and the rules of any jurisdiction applicable to Awards granted to residents therein. 

(d) “Assumed” means that pursuant to a Corporate Transaction either (i) the Award is expressly affirmed by theCompany or (ii) the contractual obligations represented by the Award are expressly assumed (and not simply by operation of law) by the successor entity or its Parent in connection with the Corporate Transaction with appropriate adjustments tothe number and type of securities of the successor entity or its Parent subject to the Award and the exercise or purchase price thereof which at least preserves the compensation element of the Award existing at the time of the Corporate Transactionas determined in accordance with the instruments evidencing the agreement to assume the Award. 

(e) “Award”means the grant of an Option, SAR, Dividend Equivalent Right, Restricted Share, Restricted Share Unit or other right or benefit under the Plan. 

(f) “Award Agreement” means the written agreement evidencing the grant of an Award executed by the Company and the Grantee, including any amendments thereto. 

(g) “Board” means the Board of Directors of the Company. 

 
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(h) “Cause” means, with respect to the termination by the Company or aRelated Entity of the Grantee’s Continuous Service, that such termination is for “Cause” as such term is expressly defined in a then-effective written agreement between the Grantee and the Company or such Related Entity, or in theabsence of such then-effective written agreement and definition, is based on, in the determination of the Administrator, the Grantee’s: (i) performance of any act or failure to perform any act in bad faith and to the detriment of theCompany or a Related Entity; (ii) dishonesty, intentional misconduct or material breach of any agreement with the Company or a Related Entity; or (iii) commission of a crime involving dishonesty, breach of trust, or physical or emotionalharm to any person. 

(i) “Change in Control” means a change in ownership or control of the Company after theRegistration Date effected through either of the following transactions: 

(i) the direct or indirect acquisition by any personor related group of persons (other than an acquisition from or by the Company or by a Company-sponsored employee benefit plan or by a person that directly or indirectly controls, is controlled by, or is under common control with, the Company) ofbeneficial 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 pursuant to a tender orexchange offer made directly to the Company’s shareholders which a majority of the Continuing Directors who are not Affiliates or Associates of the offeror do not recommend such shareholders accept, or 

(ii) a change in the composition of the Board over a period of twelve (12) months or less such that a majority of the Board members(rounded up to the next whole number) ceases, by reason of one or more contested elections for Board membership, to be comprised of individuals who are Continuing Directors. 

(j) “Code” means the Internal Revenue Code of 1986, as amended. 

(k) “Committee” means any committee composed of members of the Board or individuals appointed by the Board to administerthe Plan. 

(l) “Company” means New Oriental Education & Technology Group Inc., a company organizedunder the laws of the Cayman Islands or any successor corporation that adopts the Plan in connection with a Corporate Transaction. 

(m) “Consultant” means any person (other than an Employee or a Director, solely with respect to rendering services in such person’s capacity as a Director) who is engaged by theCompany or any Related Entity to render consulting or advisory services to the Company or such Related Entity. 

(n)“Continuing Directors” means members of the Board who either (i) have been Board members continuously for a period of at least twelve (12) months or (ii) have been Board members for less than twelve (12) monthsand were elected or nominated for election as Board members by at least a majority of the Board members described in clause (i) who were still in office at the time such election or nomination was approved by the Board. 

 
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(o) “Continuous Service” means that the provision of services to theCompany or a Related Entity in any capacity of Employee, Director or Consultant is not interrupted or terminated. In jurisdictions requiring notice in advance of an effective termination as an Employee, Director or Consultant, Continuous Serviceshall be deemed terminated upon the actual cessation of providing services to the Company or a Related Entity notwithstanding any required notice period that must be fulfilled before a termination as an Employee, Director or Consultant can beeffective under Applicable Laws. A Grantee’s Continuous Service shall be deemed to have terminated either upon an actual termination of Continuous Service or upon the entity for which the Grantee provides services ceasing to be a RelatedEntity. Continuous Service shall not be considered interrupted in the case of (i) any approved leave of absence, (ii) transfers among the Company, any Related Entity, or any successor, in any capacity of Employee, Director or Consultant,or (iii) any change in status as long as the individual remains in the service of the Company or a Related Entity in any capacity of Employee, Director or Consultant (except as otherwise provided in the Award Agreement). An approved leave ofabsence shall include sick leave, military leave, or any other authorized personal leave. For purposes of each Incentive Share Option granted under the Plan, if such leave exceeds three (3) months, and reemployment upon expiration of such leaveis not guaranteed by statute or contract, then the Incentive Share Option shall be treated as a Non-Qualified Share Option on the day three (3) months and one (1) day following the expiration of such three (3) month period.

(p) “Corporate Transaction” means any of the following transactions, provided, however, that theAdministrator shall determine under parts (iv) and (v) whether multiple transactions are related, and its determination shall be final, binding and conclusive: 

(i) an amalgamation, arrangement or consolidation in which the Company is not the surviving entity, except for a transaction the principal purpose of which is to change the jurisdiction in which theCompany is incorporated; 

(ii) the sale, transfer or other disposition of all or substantially all of the assets of theCompany; 

(iii) the complete liquidation or dissolution of the Company; 

(iv) any reverse takeover or series of related transactions culminating in a reverse takeover (including, but not limited to, a tenderoffer followed by a reverse takeover) in which the Company is the surviving entity but (A) the Ordinary Shares outstanding immediately prior to such takeover are converted or exchanged by virtue of the takeover into other property, whether inthe form of securities, cash or otherwise, or (B) in which securities possessing more than forty percent (40%) of the total combined voting power of the Company’s outstanding securities are transferred to a person or persons differentfrom those who held such securities immediately prior to such takeover or the initial transaction culminating in such takeover, but excluding any such transaction or series of related transactions that the Administrator determines shall not be aCorporate Transaction; or 

 
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(v) acquisition in a single or series of related transactions by any person or relatedgroup of persons (other than the Company or by a Company-sponsored employee benefit plan) of beneficial ownership (within the meaning of Rule 13d-3 of the Exchange Act) of securities possessing more than fifty percent (50%) of the totalcombined voting power of the Company’s outstanding securities but excluding any such transaction or series of related transactions that the Administrator determines shall not be a Corporate Transaction. 

(q) “Director” means a member of the Board or the board of directors of any Related Entity. 

(r) “Disability” means as defined under the long-term disability policy of the Company or the Related Entity to whichthe Grantee provides services regardless of whether the Grantee is covered by such policy. If the Company or the Related Entity to which the Grantee provides service does not have a long-term disability plan in place, “Disability” meansthat a Grantee is unable to carry out the responsibilities and functions of the position held by the Grantee by reason of any medically determinable physical or mental impairment for a period of not less than ninety (90) consecutive days. AGrantee will not be considered to have incurred a Disability unless he or she furnishes proof of such impairment sufficient to satisfy the Administrator in its discretion. 

(s) “Dividend Equivalent Right” means a right entitling the Grantee to compensation measured by dividends paid with respect to Ordinary Shares. 

(t) “Employee” means any person, including an Officer or Director, who is in the employ of the Company or any RelatedEntity, subject to the control and direction of the Company or any Related Entity as to both the work to be performed and the manner and method of performance. The payment of a director’s fee by the Company or a Related Entity shall not besufficient to constitute “employment” by the Company. 

(u) “Exchange Act” means the SecuritiesExchange Act of 1934, as amended. 

(v) “Fair Market Value” means, as of any date, the value of OrdinaryShares determined as follows: 

(i) If the Ordinary Shares are listed on one or more established stock exchanges or nationalmarket systems, 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 shares (or the closing bid, if no sales were reported)as quoted on the principal exchange or system on which the Ordinary Shares are listed (as determined by the Administrator) on the date of determination (or, if no closing sales price or closing bid was reported on that date, as applicable, on thelast trading date such closing sales price or closing bid was reported), as reported in The Wall Street Journal or such other source as the Administrator deems reliable; 

(ii) If the Ordinary Shares are regularly quoted on an automated quotation system (including the OTC Bulletin Board) or by a recognized securities dealer, its Fair Market Value shall be the closing salesprice for such shares as quoted on such system or by such securities dealer on the date of determination, but if selling prices are not reported, the Fair Market Value of an Ordinary Share shall be the mean between the high bid and low asked pricesfor the Ordinary Shares on the date of determination (or, if no such prices were reported on that date, on the last date such prices were reported), as reported in The Wall Street Journal or such other source as the Administrator deems reliable; or

 
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(iii) In the absence of an established market for the Ordinary Shares of the type describedin (i) and (ii), above, the Fair Market Value thereof shall be determined by the Administrator in good faith. 

(w)“Grantee” means an Employee, Director or Consultant who receives an Award under the Plan. 

(x)“Incentive Share Option” means an Option intended to qualify as an incentive stock option within the meaning of Section 422 of the Code 

(y) “Non-Qualified Share Option” means an Option not intended to qualify as an Incentive Share Option. 

(z) “Officer” means a person who is an officer of the Company or a Related Entity within the meaning of Section 16 of the Exchange Act and the rules and regulations promulgatedthereunder. 

(aa) “Option” means an option to purchase Shares pursuant to an Award Agreement granted underthe Plan. 

(bb) “Ordinary Share” means a common share of nominal or par value, of the Company, or, ifapplicable, the number or fraction of American Depositary Receipt representing an Ordinary Share. 

(cc)“Parent” means a “parent corporation”, whether now or hereafter existing, as defined in Section 424(e) of the Code. 

(dd) “Plan” means this 2006 Share Incentive Plan, as may be amended from time to time. 

(ee) “Registration Date” means the first to occur of (i) the closing of the first sale to the general public pursuant to a registration statement filed with and declared effective bythe Securities and Exchange Commission under the Securities Act of 1933, as amended, of (A) the Ordinary Shares or (B) the same class of securities of a successor corporation (or its Parent) issued pursuant to a Corporate Transaction inexchange for or in substitution of the Ordinary Shares; and (ii) in the event of a Corporate Transaction, the date of the consummation of the Corporate Transaction if the same class of securities of the successor corporation (or its Parent)issuable in such Corporate Transaction shall have been sold to the general public pursuant to a registration statement filed with and declared effective by the Securities and Exchange Commission under the Securities Act of 1933, as amended, on orprior to the date of consummation of such Corporate Transaction. 

(ff) “Related Entity” means any Parent orSubsidiary of the Company. 

 
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(gg) “Replaced” means that pursuant to a Corporate Transaction theAward is replaced with a comparable share or stock award or a cash incentive program of the Company, the successor entity (if applicable) or Parent of either of them which preserves the compensation element of such Award existing at the time of theCorporate Transaction and provides for subsequent payout in accordance with the same (or a more favorable) vesting schedule applicable to such Award. The determination of Award comparability shall be made by the Administrator and its determinationshall be final, binding and conclusive. 

(hh) “Restricted Share” means a Share issued under the Plan to theGrantee for such consideration, if any, and subject to such restrictions on transfer, rights of first refusal, repurchase provisions, forfeiture provisions, and other terms and conditions as established by the Administrator. 

(ii) “Restricted Share Units” means an Award which may be earned in whole or in part upon the passage of time or theattainment of performance criteria established by the Administrator and which may be settled for cash, Shares or other securities or a combination of cash, Shares or other securities as established by the Administrator. 

(jj) “Rule 16b-3” means Rule 16b-3 promulgated under the Exchange Act or any successor thereto. 

(kk) “SAR” means a share appreciation right entitling the Grantee to Shares or cash compensation, as established by theAdministrator, measured by appreciation in the value of Ordinary Shares. 

(ll) “Share” means an OrdinaryShare of the Company. 

(mm) “Subsidiary” means a “subsidiary corporation”, whether now or hereafterexisting, as defined in Section 424(f) of the Code. 

3. Shares Subject to the Plan. 

(a) Subject to the provisions of Section 10, below, the maximum aggregate number of Shares which may be issued pursuant to all Awards(including Incentive Share Options) is 8,000,000 Shares, plus (i) an increase of 5,000,000 Shares to be added on January 1, 2007, (ii) an increase of 5,000,000 Shares to be added on January 1, 2008 and (iii) an annualincrease to be added on the first business day of each calendar year beginning in 2009 equal to the lesser of (x) 3,000,000 Shares, (y) two percent (2%) of the number of Shares outstanding as of such date, or (z) a lesser numberof Shares determined by the Administrator. The Shares to be issued pursuant to Awards may be authorized, but unissued Ordinary Shares. 

(b) Any Shares covered by an Award (or portion of an Award) which is forfeited, canceled or expires (whether voluntarily or involuntarily) shall be deemed not to have been issued for purposes ofdetermining the maximum aggregate number of Shares which may be issued under the Plan. Shares that actually have been issued under the Plan pursuant to an Award shall not be returned to the Plan and shall not become available for future issuanceunder the Plan, except that if unvested Shares are forfeited or repurchased by the Company at their original issue price, such Shares shall become available for future grant under the Plan. 

 
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4. Administration of the Plan. 

(a) Plan Administrator. 

(i) Administration with Respect to Directors and Officers. With respect to grants of Awards to Directors or Employees who are also Officers or Directors of the Company, the Plan shall beadministered by (A) the Board or (B) a Committee designated by the Board, which Committee shall be constituted in such a manner as to satisfy the Applicable Laws and to permit such grants and related transactions under the Plan to beexempt from Section 16(b) of the Exchange Act in accordance with Rule 16b-3. Once appointed, such Committee shall continue to serve in its designated capacity until otherwise directed by the Board. 

(ii) Administration With Respect to Consultants and Other Employees. With respect to grants of Awards to Employees or Consultantswho are neither Directors nor Officers of the Company, the Plan shall be administered by (A) the Board or (B) a Committee designated by the Board, which Committee shall be constituted in such a manner as to satisfy the Applicable Laws.Once appointed, such Committee shall continue to serve in its designated capacity until otherwise directed by the Board. The Board may authorize one or more Officers to grant such Awards and may limit such authority as the Board determines from timeto time. 

(iii) Administration Errors. In the event an Award is granted in a manner inconsistent with the provisionsof this subsection (a), such Award shall be presumptively valid as of its grant date to the extent permitted by the Applicable Laws. 

(b) Powers of the Administrator. Subject to Applicable Laws and the provisions of the Plan (including any other powers given to the Administrator hereunder), and except as otherwise provided by theBoard, the Administrator shall have the authority, in its discretion: 

(i) to select the Employees, Directors and Consultantsto whom Awards may be granted from time to time hereunder; 

(ii) to determine whether and to what extent Awards are grantedhereunder; 

(iii) to determine the number of Shares or the amount of other consideration to be covered by each Award grantedhereunder; 

(iv) to approve forms of Award Agreements for use under the Plan; 

(v) to determine the terms and conditions of any Award granted hereunder; 

 
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(vi) to amend the terms of any outstanding Award granted under the Plan, provided that(A) any amendment that would adversely affect the Grantee’s rights under an outstanding Award shall not be made without the Grantee’s written consent, provided, however, that an amendment or modification that may cause an IncentiveShare Option to become a Non-Qualified Share Option shall not be treated as adversely affecting the rights of the Grantee, (B) the reduction of the exercise price of any Option awarded under the Plan shall be subject to shareholder approval;for clarification purpose, if a modification of an Option awarded under the Plan is to reduce the original exercise price of the Option and the number of the underlying Shares, so that it would not result in significant additional share-basedcompensation expenses to be incurred by the Company, shareholder approval shall not be required in this circumstance and (C) canceling an Option at a time when its exercise price exceeds the Fair Market Value of the underlying Shares, inexchange for another Option, Restricted Share, or other Award shall be subject to shareholder approval, unless the cancellation and exchange occurs in connection with a Corporate Transaction; 

(vii) to construe and interpret the terms of the Plan and Awards, including without limitation, any notice of award or Award Agreement,granted pursuant to the Plan; 

(viii) to grant Awards to Employees, Directors and Consultants employed outside the UnitedStates on such terms and conditions different from those specified in the Plan as may, in the judgment of the Administrator, be necessary or desirable to further the purpose of the Plan; 

(ix) to take such other action, not inconsistent with the terms of the Plan, as the Administrator deems appropriate. 

The express grant in the Plan of any specific power to the Administrator shall not be construed as limiting any power or authority of the Administrator;provided that the Administrator may not exercise any right or power reserved to the Board. Any decision made, or action taken, by the Administrator or in connection with the administration of this Plan shall be final, conclusive and binding on allpersons having an interest in the Plan. 

(c) Indemnification. In addition to such other rights of indemnification asthey may have as members of the Board or as Officers or Employees of the Company or a Related Entity, members of the Board and any Officers or Employees of the Company or a Related Entity to whom authority to act for the Board, the Administrator orthe Company is delegated shall be defended and indemnified by the Company to the extent permitted by law on an after-tax basis against all reasonable expenses, including attorneys’ fees, actually and necessarily incurred in connection with thedefense of any claim, investigation, action, suit or proceeding, or in connection with any appeal therein, to which they or any of them may be a party by reason of any action taken or failure to act under or in connection with the Plan, or any Awardgranted hereunder, and against all amounts paid by them in settlement thereof (provided such settlement is approved by the Company) or paid by them in satisfaction of a judgment in any such claim, investigation, action, suit or proceeding, except inrelation to matters as to which it shall be adjudged in such claim, investigation, action, suit or proceeding that such person is liable for gross negligence, bad faith or intentional misconduct; provided, however, that within thirty (30) daysafter the institution of such claim, investigation, action, suit or proceeding, such person shall offer to the Company, in writing, the opportunity at the Company’s expense to defend the same. 

5. Eligibility. Awards other than Incentive Share Options may be granted to Employees, Directors and Consultants. Incentive ShareOptions may be granted only to Employees of the Company or a Parent or a Subsidiary of the Company. An Employee, Director or Consultant who has been granted an Award may, if otherwise eligible, be granted additional Awards. Awards may be granted tosuch Employees, Directors or Consultants who are residing in non-U.S. jurisdictions as the Administrator may determine from time to time. 

 
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6. Terms and Conditions of Awards. 

(a) Types of Awards. The Administrator is authorized under the Plan to award any type of arrangement to an Employee, Director orConsultant that is not inconsistent with the provisions of the Plan and that by its terms involves or might involve the issuance of (i) Shares, (ii) cash or (iii) an Option, a SAR, or similar right with a fixed or variable pricerelated to the Fair Market Value of the Shares and with an exercise or conversion privilege related to the passage of time, the occurrence of one or more events, or the satisfaction of performance criteria or other conditions. Such awards include,without limitation, Options, SARs, sales or bonuses of Restricted Share, Restricted Share Units or Dividend Equivalent Rights, and an Award may consist of one such security or benefit, or two (2) or more of them in any combination oralternative. 

(b) Designation of Award. Each Award shall be designated in the Award Agreement. In the case of anOption, the Option shall be designated as either an Incentive Share Option or a Non-Qualified Share Option. However, notwithstanding such designation, an Option will qualify as an Incentive Share Option under the Code only to the extent the $100,000dollar limitation of Section 422(d) of the Code is not exceeded. The $100,000 limitation of Section 422(d) of the Code is calculated based on the aggregate Fair Market Value of the Shares subject to Options designated as Incentive ShareOptions which become exercisable for the first time by a Grantee during any calendar year (under all plans of the Company or any Parent or Subsidiary of the Company). For purposes of this calculation, Incentive Share Options shall be taken intoaccount in the order in which they were granted, and the Fair Market Value of the Shares shall be determined as of the grant date of the relevant Option. 

(c) Conditions of Award. Subject to the terms of the Plan, the Administrator shall determine the provisions, terms, and conditions of each Award including, but not limited to, the Award vestingschedule, repurchase provisions, rights of first refusal, forfeiture provisions, form of payment (cash, Shares, or other consideration) upon settlement of the Award, payment contingencies, and satisfaction of any performance criteria. Theperformance criteria established by the Administrator may be based on any one of, or combination of, the following: (i) increase in share price, (ii) earnings per share, (iii) total shareholder return, (iv) operating margin,(v) gross margin, (vi) return on equity, (vii) return on assets, (viii) return on investment, (ix) operating income, (x) net operating income, (xi) pre-tax profit, (xii) cash flow, (xiii) revenue,(xiv) expenses, (xv) earnings before interest, taxes and depreciation, (xvi) economic value added and (xvii) market share. The performance criteria may be applicable to the Company, Related Entities and/or any individual businessunits of the Company or any Related Entity. Partial achievement of the specified criteria may result in a payment or vesting corresponding to the degree of achievement as specified in the Award Agreement. 

(d) Acquisitions and Other Transactions. The Administrator may issue Awards under the Plan in settlement, assumption orsubstitution for, outstanding awards or obligations to grant future awards in connection with the Company or a Related Entity acquiring another entity, an interest in another entity or an additional interest in a Related Entity whether by merger,share purchase, asset purchase or other form of transaction. 

 
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(e) Deferral of Award Payment. The Administrator may establish one or more programsunder the Plan to permit selected Grantees the opportunity to elect to defer receipt of consideration upon exercise of an Award, satisfaction of performance criteria, or other event that absent the election would entitle the Grantee to payment orreceipt of Shares or other consideration under an Award. The Administrator may establish the election procedures, the timing of such elections, the mechanisms for payments of, and accrual of interest or other earnings, if any, on amounts, Shares orother consideration so deferred, and such other terms, conditions, rules and procedures that the Administrator deems advisable for the administration of any such deferral program; provided however that any such deferrals shall be made in accordancewith Section 409A of the Code to the extent applicable to the Grantee. 

(f) Separate Programs. The Administratormay establish one or more separate programs under the Plan for the purpose of issuing particular forms of Awards to one or more classes of Grantees on such terms and conditions as determined by the Administrator from time to time. 

(g) Early Exercise. The Award Agreement may, but need not, include a provision whereby the Grantee may elect at any time while anEmployee, Director or Consultant to exercise any part or all of the Award prior to full vesting of the Award. Any unvested Shares received pursuant to such exercise may be subject to a repurchase right in favor of the Company or a Related Entity orto any other restriction the Administrator determines to be appropriate. 

(h) Term of Award. The term of each Awardshall be the term stated in the Award Agreement, provided, however, that the term of an Incentive Share Option shall be no more than ten (10) years from the date of grant thereof. However, in the case of an Incentive Share Option granted to aGrantee who, at the time the Option is granted, owns shares representing more than ten percent (10%) of the voting power of all classes of shares of the Company or any Parent or Subsidiary of the Company, the term of the Incentive ShareOption shall be five (5) years from the date of grant thereof or such shorter term as may be provided in the Award Agreement. Notwithstanding the foregoing, the specified term of any Award shall not include any period for which the Grantee haselected to defer the receipt of the Shares or cash issuable pursuant to the Award. 

(i) Transferability of Awards.Incentive Share Options 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 Grantee, only by theGrantee. Other Awards shall be transferable (i) by will and by the laws of descent and distribution and (ii) during the lifetime of the Grantee, to the extent and in the manner authorized by the Administrator. Notwithstanding theforegoing, the Grantee may designate one or more beneficiaries of the Grantee’s Award in the event of the Grantee’s death on a beneficiary designation form provided by the Administrator. 

 
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(j) Time of Granting Awards. The date of grant of an Award shall for all purposes bethe date on which the Administrator makes the determination to grant such Award, or such other date as is determined by the Administrator. 

7. Award Exercise or Purchase Price, Consideration and Taxes. 

(a)Exercise or Purchase Price. The exercise or purchase price, if any, for an Award shall be as follows: 

(i) In the caseof an Incentive Share Option: 

(A) granted to an Employee who, at the time of the grant of such Incentive Share Option ownsshares representing more than ten percent (10%) of the voting power of all classes of shares of the Company or any Parent or Subsidiary of the Company, the per Share exercise price shall be not less than one hundred ten percent (110%) ofthe Fair Market Value per Share on the date of grant; or 

(B) granted to any Employee other than an Employee described in thepreceding paragraph, the per Share exercise price shall be not less than one hundred percent (100%) of the Fair Market Value per Share on the date of grant. 

(ii) In the case of a Non-Qualified Share Option, the per Share exercise price shall be not less than one hundred percent (100%) of the Fair Market Value per Share on the date of grant unlessotherwise determined by the Administrator. 

(iii) In the case of other Awards, such price as is determined by theAdministrator. 

(iv) Notwithstanding the foregoing provisions of this Section 7(a), in the case of an Award issuedpursuant to Section 6(d), above, the exercise or purchase price for the Award shall be determined in accordance with the provisions of the relevant instrument evidencing the agreement to issue such Award. 

(b) Consideration. Subject to Applicable Laws, the consideration to be paid for the Shares to be issued upon exercise or purchaseof an Award including the method of payment, shall be determined by the Administrator. In addition to any other types of consideration the Administrator may determine, the Administrator is authorized to accept as consideration for Shares issuedunder the Plan the following, provided that the portion of the consideration equal to the par value of the Shares must be paid in cash or other legal consideration permitted by the applicable corporate law of the jurisdiction in the Company isincorporated: 

(i) cash; 

(ii) check; 

 
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(iii) if the exercise or purchase occurs on or after the Registration Date, surrender ofShares or delivery of a properly executed form of attestation of ownership of Shares as the Administrator may require which have a Fair Market Value on the date of surrender or attestation equal to the aggregate exercise price of the Shares as towhich said Award shall be exercised, provided, however, that Shares acquired under the Plan or any other equity compensation plan or agreement of the Company must have been held by the Grantee for a period of more than six (6) months (and notused for another Award exercise by attestation during such period); 

(iv) with respect to Options, if the exercise occurs onor after the Registration Date, payment through a broker-dealer sale and remittance procedure pursuant to which the Grantee (A) shall provide written instructions to a Company designated brokerage firm to effect the immediate sale of some orall of the purchased Shares and remit to the Company sufficient funds to cover the aggregate exercise price payable for the purchased Shares and (B) shall provide written directives to the Company to deliver the certificates for the purchasedShares directly to such brokerage firm in order to complete the sale transaction; or 

(v) any combination of the foregoingmethods of payment. 

The Administrator may at any time or from time to time, by adoption of or by amendment to the standard forms of AwardAgreement described in Section 4(b)(iv), or by other means, grant Awards which do not permit all of the foregoing forms of consideration to be used in payment for the Shares or which otherwise restrict one or more forms of consideration.

(c) Taxes. No Shares shall be delivered under the Plan to any Grantee or other person until such Grantee or otherperson has made arrangements acceptable to the Administrator for the satisfaction of any non-U.S., federal, state, or local income and employment tax withholding obligations, including, without limitation, obligations incident to the receipt ofShares. Upon exercise or vesting of an Award the Company shall withhold or collect from Grantee an amount sufficient to satisfy such tax obligations, including, but not limited to, by surrender of the whole number of Shares covered by the Awardsufficient to satisfy the minimum applicable tax withholding obligations incident to the exercise or vesting of an Award. 

8.Exercise of Award. 

(a) Procedure for Exercise; Rights as a Shareholder. 

(i) Any Award granted hereunder shall be exercisable at such times and under such conditions as determined by the Administrator under theterms of the Plan and specified in the Award Agreement. 

(ii) An Award shall be deemed to be exercised when written notice ofsuch exercise has been given to the Company in accordance with the terms of the Award by the person entitled to exercise the Award and full payment for the Shares with respect to which the Award is exercised has been made, including, to the extentselected, use of the broker-dealer sale and remittance procedure to pay the purchase price as provided in Section 7(b)(iv). 

 
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(b) Exercise of Award Following Termination of Continuous Service. 

(i) An Award may not be exercised after the termination date of such Award set forth in the Award Agreement and may be exercisedfollowing the termination of a Grantee’s Continuous Service only to the extent provided in the Award Agreement. 

(ii)Where the Award Agreement permits a Grantee to exercise an Award following the termination of the Grantee’s Continuous Service for a specified period, the Award shall terminate to the extent not exercised on the last day of the specified periodor the last day of the original term of the Award, whichever occurs first. 

(iii) Any Award designated as an Incentive ShareOption to the extent not exercised within the time permitted by law for the exercise of Incentive Share Options following the termination of a Grantee’s Continuous Service shall convert automatically to a Non-Qualified Share Option andthereafter shall be exercisable as such to the extent exercisable by its terms for the period specified in the Award Agreement. 

9. Conditions Upon Issuance of Shares. 

(a) Shares shall not be issued pursuant to the exercise of an Award unless the exercise of such Award and the issuance and delivery of such Shares pursuant thereto shall comply with all Applicable Laws,and shall be further subject to the approval of counsel for the Company with respect to such compliance. 

(b) As a conditionto the exercise of an Award, the Company may require the person exercising such Award to represent and warrant at the time of any such exercise that the Shares are being purchased only for investment and without any present intention to sell ordistribute such Shares if, in the opinion of counsel for the Company, such a representation is required by any Applicable Laws. 

10. Adjustments Upon Changes in Capitalization. Subject to any required action by the shareholders of the Company, the number ofShares covered by each outstanding Award, and 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, the exercise or purchase price of eachsuch outstanding Award, as well as any other terms that the Administrator determines require adjustment shall be proportionately adjusted for (i) any increase or decrease in the number of issued Shares resulting from a share split, reverseshare split, share dividend, combination or reclassification of the Shares, or similar transaction affecting the Shares, (ii) any other increase or decrease in the number of issued Shares effected without receipt of consideration by theCompany, or (iii) as the Administrator may determine in its discretion, any other transaction with respect to Ordinary Shares including a corporate merger, consolidation, acquisition of property or shares, separation (including a spin-off orother distribution of shares or property), reorganization, liquidation (whether partial or complete) or any similar transaction; provided, however that conversion of any convertible securities of the Company shall not be deemed to have been“effected without receipt of consideration.” In the event of any distribution of cash or other assets to shareholders other than a normal cash dividend, the Administrator may also, in its discretion, make adjustments in connection with theevents described in (i)-(iii) of this Section 10 or substitute, exchange or grant Awards with respect to the shares of a Related Entity (collectively “adjustments”). In determining adjustments to be made under thisSection 10, the Administrator may take into account such factors as it deems appropriate, including (x) the restrictions of Applicable Law, (y) the potential tax, accounting or other consequences of an adjustment and (z) thepossibility that some Grantees might receive an adjustment and a distribution or other unintended benefit, and in light of such factors or circumstances may make adjustments that are not uniform or proportionate among outstanding Awards, modifyvesting dates, defer the delivery of share certificates or make other equitable adjustments. Any such adjustments to outstanding Awards will be effected in a manner that precludes the material enlargement of rights and benefits under such Awards.Adjustments, if any, and any determinations or interpretations, including any determination of whether a distribution is other than a normal cash dividend, shall be made by the Administrator and its determination shall be final, binding andconclusive. In connection with the foregoing adjustments, the Administrator may, in its discretion, prohibit the exercise of Awards during certain periods of time. Except as the Administrator determines, no issuance by the Company of shares of anyclass, or securities convertible into shares of any class, shall affect, and no adjustment by reason hereof shall be made with respect to, the number or price of Shares subject to an Award. 

 
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11. Corporate Transactions and Changes in Control. 

(a) Termination of Award to Extent Not Assumed in Corporate Transaction. Effective upon the consummation of a CorporateTransaction, all outstanding Awards under the Plan shall terminate. However, all such Awards shall not terminate to the extent they are Assumed in connection with the Corporate Transaction. 

(b) Acceleration of Award Upon Corporate Transaction or Change in Control. 

(i) Corporate Transaction. Except as provided otherwise in an individual Award Agreement, in the event of a Corporate Transactionand: 

(A) for the portion of each Award that is Assumed or Replaced, then such Award (if Assumed), the replacement Award (ifReplaced), or the cash incentive program (if Replaced) automatically shall become fully vested, exercisable and payable and be released from any repurchase or forfeiture rights (other than repurchase rights exercisable at Fair Market Value) for allof the Shares at the time represented by such Assumed or Replaced portion of the Award, immediately upon termination of the Grantee’s Continuous Service if such Continuous Service is terminated by the successor company or the Company withoutCause within twelve (12) months after the Corporate Transaction; and 

(B) for the portion of each Award that is neitherAssumed nor Replaced, such portion of the Award shall automatically become fully vested and exercisable and be released from any repurchase or forfeiture rights (other than repurchase rights exercisable at Fair Market Value) for all of the Shares atthe time represented by such portion of the Award, immediately prior to the specified effective date of such Corporate Transaction, provided that the Grantee’s Continuous Service has not terminated prior to such date. 

 
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(ii) Change in Control. Except as provided otherwise in an individual AwardAgreement, following a Change in Control (other than a Change in Control which also is a Corporate Transaction) and upon the termination of the Continuous Service of a Grantee if such Continuous Service is terminated by the Company or Related Entitywithout Cause within twelve (12) months after a Change in Control, each Award of such Grantee which is at the time outstanding under the Plan automatically shall become fully vested and exercisable and be released from any repurchase orforfeiture rights (other than repurchase rights exercisable at Fair Market Value), immediately upon the termination of such Continuous Service. 

(c) Effect of Acceleration on Incentive Share Options. Any Incentive Share Option accelerated under this Section 11 in connection with a Corporate Transaction or Change in Control shall remainexercisable as an Incentive Share Option under the Code only to the extent the $100,000 dollar limitation of Section 422(d) of the Code is not exceeded. 

12. Effective Date and 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. It shall continue ineffect for a term of ten (10) years unless sooner terminated. Subject to Section 17, below, and Applicable Laws, Awards may be granted under the Plan upon its becoming effective. 

13. Amendment, Suspension or Termination of the Plan. 

(a) The Board may at any time amend, suspend or terminate the Plan; provided, however, that no such amendment shall be made without the approval of the Company’s shareholders to the extent suchapproval is required by Applicable Laws, or if such amendment would lessen any of the requirements of Section 4(b)(vi) or this Section 13(a). 

(b) No Award may be granted during any suspension of the Plan or after termination of the Plan. 

(c) No suspension or termination of the Plan (including termination of the Plan under Section 12, above) shall adversely affect any rights under Awards already granted to a Grantee. 

14. Reservation of Shares. 

(a) The Company, during the term of the Plan, will at all times reserve and keep available, as authorized but unissued, such number of Shares as shall be sufficient to satisfy the requirements of thePlan. 

(b) The inability of the Company to obtain authority from any regulatory body having jurisdiction, which authority isdeemed 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 authorityshall not have been obtained. 

 
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15. No Effect on Terms of Employment/Consulting Relationship. The Plan shall notconfer upon any Grantee any right with respect to the Grantee’s Continuous Service, nor shall it interfere in any way with his or her right or the right of the Company or any Related Entity to terminate the Grantee’s Continuous Service atany time, with or without Cause, and with or without notice. The ability of the Company or any Related Entity to terminate the employment of a Grantee who is employed at will is in no way affected by its determination that the Grantee’sContinuous Service has been terminated for Cause for the purposes of this Plan. 

16. No Effect on Retirement and OtherBenefit Plans. Except as specifically provided in a retirement or other benefit plan of the Company or a Related Entity, Awards shall not be deemed compensation for purposes of computing benefits or contributions under any retirement plan of theCompany or a Related Entity, and shall not affect any benefits under any other benefit plan of any kind or any benefit plan subsequently instituted under which the availability or amount of benefits is related to level of compensation. The Plan isnot a “Retirement Plan” or “Welfare Plan” under the Employee Retirement Income Security Act of 1974, as amended. 

17. Shareholder Approval. The grant of Incentive Share Options under the Plan shall be subject to approval by the shareholders of the Company within twelve (12) months before or after the datethe Plan is adopted excluding Incentive Share Options issued in substitution for outstanding Incentive Share Options pursuant to Section 424(a) of the Code. Such shareholder approval shall be obtained in the degree and manner required underApplicable Laws. The Administrator may grant Incentive Share Options under the Plan prior to approval by the shareholders, but until such approval is obtained, no such Incentive Share Option shall be exercisable. In the event that shareholderapproval is not obtained within the twelve (12) month period provided above, all Incentive Share Options previously granted under the Plan shall be exercisable as Non-Qualified Share Options. 

18. Unfunded Obligation. Grantees shall have the status of general unsecured creditors of the Company. Any amounts payable toGrantees pursuant to the Plan shall be unfunded and unsecured obligations for all purposes, including, without limitation, Title I of the Employee Retirement Income Security Act of 1974, as amended. Neither the Company nor any Related Entityshall be required to segregate any monies from its general funds, or to create any trusts, or establish any special accounts with respect to such obligations. The Company shall retain at all times beneficial ownership of any investments, includingtrust investments, which the Company may make to fulfill its payment obligations hereunder. Any investments or the creation or maintenance of any trust or any Grantee account shall not create or constitute a trust or fiduciary relationship betweenthe Administrator, the Company or any Related Entity and a Grantee, or otherwise create any vested or beneficial interest in any Grantee or the Grantee’s creditors in any assets of the Company or a Related Entity. The Grantees shall have noclaim against the Company or any Related Entity for any changes in the value of any assets that may be invested or reinvested by the Company with respect to the Plan. 

19. Construction. Captions and titles contained herein are for convenience only and shall not affect the meaning or interpretation of any provision of the Plan. Except when otherwise indicated bythe context, the singular shall include the plural and the plural shall include the singular. Use of the term “or” is not intended to be exclusive, unless the context clearly requires otherwise. 

 
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