EX-10.2





 Exhibit 10.2 

 
 DIGITALOCEAN HOLDINGS, INC. 

2013 STOCK PLAN 

ADOPTED ON OCTOBER 30, 2013 

AMENDED AND RESTATED MAY 8, 2020 












 DIGITALOCEAN HOLDINGS, INC. 2013 STOCK PLAN 

Section 1.    ESTABLISHMENT AND PURPOSE. 

The purpose of this Plan is to offer persons selected by the Company an opportunity to acquire a proprietary interest in the success of the
Company, or to increase such interest, by acquiring Shares of the Company’s Stock. The Plan provides both for the direct award or sale of Shares, the grant of Options to purchase Shares and the grant of Restricted Stock Units. Options granted
under the Plan may be ISOs intended to qualify under Code Section 422 or NSOs which are not intended to so qualify. 
 Capitalized
terms are defined in Section 12. 
 Section 2.    ADMINISTRATION. 

(a)    Committees of the Board of Directors. The Plan may be administered by one or more Committees. Each
Committee shall consist, as required by applicable law, of one or more members of the Board of Directors who have been appointed by the Board of Directors. Each Committee shall have such authority and be responsible for such functions as the Board
of Directors has assigned to it. If no Committee has been appointed, the entire Board of Directors shall administer the Plan. Any reference to the Board of Directors in the Plan shall be construed as a reference to the Committee (if any) to whom the
Board of Directors has assigned a particular function. 
 (b)    Authority of the Board of Directors.
Subject to the provisions of the Plan, the Board of Directors shall have full authority and discretion to take any actions it deems necessary or advisable for the administration of the Plan. Notwithstanding anything to the contrary in the Plan, with
respect to the terms and conditions of Awards granted to Participants outside the United States, the Board of Directors may vary from the provisions of the Plan to the extent it determines it necessary and appropriate to do so; provided that it may
not vary from those Plan terms requiring stockholder approval pursuant to Section 11(d) below. All decisions, interpretations and other actions of the Board of Directors shall be final and binding on all Participants and all persons deriving
their rights from a Participant. 
 Section 3.    ELIGIBILITY. 

(a)    General Rule. Only Employees, Outside Directors and Consultants shall be eligible for the grant of
NSOs or Restricted Stock Units or the direct award or sale of Shares. Only Employees shall be eligible for the grant of ISOs. 

(b)    Ten-Percent Stockholders. A person who owns more than 10% of
the total combined voting power of all classes of outstanding stock of the Company, its Parent or any of its Subsidiaries shall not be eligible for the grant of an ISO unless (i) the Exercise Price is at least 110% of the Fair Market Value of a
Share on the Date of Grant and (ii) such ISO by its terms is not exercisable after the expiration of five years from the Date of Grant. For purposes of this Subsection (b), in determining stock ownership, the attribution rules of Code
Section 424(d) shall be applied. 

  
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 Section 4.    STOCK SUBJECT TO
PLAN. 
 (a)    Basic Limitation. Not more than 34,821,642 Shares may be issued under
the Plan, subject to Subsection (b) below and Section 9(a).1 All of these Shares may be issued upon the exercise of ISOs. The number of Shares that are subject to Options, Restricted
Stock Units or other rights outstanding at any time under the Plan may not exceed the number of Shares that then remain available for issuance under the Plan. The Company, during the term of the Plan, shall at all times reserve and keep available
sufficient Shares to satisfy the requirements of the Plan. Shares offered under the Plan may be authorized but unissued Shares or treasury Shares. 

(b)    Additional Shares. In the event that Shares previously issued under the Plan are reacquired by the
Company, such Shares shall be added to the number of Shares then available for issuance under the Plan. In the event that Shares that otherwise would have been issuable under the Plan are withheld by the Company in payment of the Purchase Price,
Exercise Price or withholding taxes, such Shares shall remain available for issuance under the Plan. In the event that an outstanding Option or Restricted Stock Unit or other right for any reason expires or is canceled, the Shares allocable to the
unexercised portion of such Option or the unvested portion of the Restricted Stock Unit or other right shall be added to the number of Shares then available for issuance under the Plan. 

Section 5.    TERMS AND CONDITIONS OF AWARDS
OR SALES. 
 (a)    Stock Grant or Purchase Agreement. Each award of
Shares under the Plan shall be evidenced by a Stock Grant Agreement between the Participant and the Company. Each sale of Shares under the Plan (other than upon exercise of an Option) shall be evidenced by a Stock Purchase Agreement between the
Participant and the Company. Such award or sale shall be subject to all applicable terms and conditions of the Plan and may be subject to any other terms and conditions which are not inconsistent with the Plan and which the Board of Directors deems
appropriate for inclusion in a Stock Grant Agreement or Stock Purchase Agreement. The provisions of the various Stock Grant Agreements and Stock Purchase Agreements entered into under the Plan need not be identical. 

(b)    Duration of Offers and Nontransferability of Rights. Any right to purchase Shares under the Plan
(other than an Option) shall automatically expire if not exercised by the Participant within 30 days (or such other period as may be specified in the Award Agreement) after the grant of such right was communicated to the Participant by the Company.
Such right is not transferable and may be exercised only by the Participant to whom such right was granted. 
  

	1 	 Please refer to Exhibit A for a schedule of the initial share reserve and any subsequent increases in the
reserve. 



  
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 (c)    Purchase Price. The Board of Directors shall
determine the Purchase Price of Shares to be offered under the Plan at its sole discretion. The Purchase Price shall be payable in a form described in Section 7. 

Section 6.    TERMS AND CONDITIONS OF OPTIONS. 

(a)    Stock Option Agreement. Each grant of an Option under the Plan shall be evidenced by a Stock Option
Agreement between the Participant and the Company. The Option shall be subject to all applicable terms and conditions of the Plan and may be subject to any other terms and conditions that are not inconsistent with the Plan and that the Board of
Directors deems appropriate for inclusion in a Stock Option Agreement. The provisions of the various Stock Option Agreements entered into under the Plan need not be identical. 

(b)    Number of Shares. Each Stock Option Agreement shall specify the number of Shares that are subject to
the Option and shall provide for the adjustment of such number in accordance with Section 9. The Stock Option Agreement shall also specify whether the Option is an ISO or an NSO. 

(c)    Exercise Price. Each Stock Option Agreement shall specify the Exercise Price. The Exercise Price of
an Option shall not be less than 100% of the Fair Market Value of a Share on the Date of Grant, and in the case of an ISO a higher percentage may be required by Section 3(b). Subject to the preceding sentence, the Exercise Price shall be
determined by the Board of Directors at its sole discretion. The Exercise Price shall be payable in a form described in Section 7. This Subsection (c) shall not apply to an Option granted pursuant to an assumption of, or substitution for,
another option in a manner that complies with Code Section 424(a) (whether or not the Option is an ISO). 

(d)    Exercisability. Each Stock Option Agreement shall specify the date when all or any installment of the
Option is to become exercisable. No Option shall be exercisable unless the Participant (i) has delivered an executed copy of the Stock Option Agreement to the Company or (ii) otherwise agrees to be bound by the terms of the Stock Option
Agreement. The Board of Directors shall determine the exercisability provisions of the Stock Option Agreement at its sole discretion. 

(e)    Basic Term. The Stock Option Agreement shall specify the term of the Option. The term shall not
exceed 10 years from the Date of Grant, and in the case of an ISO, a shorter term may be required by Section 3(b). Subject to the preceding sentence, the Board of Directors at its sole discretion shall determine when an Option is to expire.

 (f)    Termination of Service (Except by Death). If a Participant’s Service terminates for any
reason other than the Participant’s death, then the Participant’s Options shall expire on the earliest of the following dates: 

(i)    The expiration date determined pursuant to Subsection (e) above; 

(ii)    The date three months after the termination of the Participant’s Service for any reason other than
Disability, or such earlier or later date as the Board of Directors may determine (but in no event earlier than 30 days after the termination of the Participant’s Service); 

  
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 (iii)    The date six months after the termination of the
Participant’s Service by reason of Disability, or such later date as the Board of Directors may determine; or 

(iv)    Immediately upon a termination of Service by the Company for Cause. 

The Participant may exercise all or part of the Participant’s Options at any time before the expiration of such Options under the preceding sentence, but
only to the extent that such Options had become exercisable before the Participant’s Service terminated (or became exercisable as a result of the termination) and the underlying Shares had vested before the Participant’s Service terminated
(or vested as a result of the termination). The balance of such Options shall lapse when the Participant’s Service terminates. In the event that the Participant dies after the termination of the Participant’s Service but before the
expiration of the Participant’s Options, all or part of such Options may be exercised (prior to expiration) by the executors or administrators of the Participant’s estate or by any person who has acquired such Options directly from the
Participant by beneficiary designation, bequest or inheritance, but only to the extent that such Options had become exercisable before the Participant’s Service terminated (or became exercisable as a result of the termination) and the
underlying Shares had vested before the Participant’s Service terminated (or vested as a result of the termination). 

(g)    Leaves of Absence. For purposes of Subsection (f) above, Service shall be deemed to continue
while the Participant is on a bona fide leave of absence, if such leave was approved by the Company in writing and if continued crediting of Service for this purpose is expressly required by the terms of such leave or by applicable law (as
determined by the Company). 
 (h)    Death of Participant. If a Participant dies while the Participant is
in Service, then the Participant’s Options shall expire on the earlier of the following dates: 
 (i)    The
expiration date determined pursuant to Subsection (e) above; or 
 (ii)    The date 12 months after the
Participant’s death, or such earlier or later date as the Board of Directors may determine (but in no event earlier than six months after the Participant’s death). 

All or part of the Participant’s Options may be exercised at any time before the expiration of such Options under the preceding sentence by the executors
or administrators of the Participant’s estate or by any person who has acquired such Options directly from the Participant by beneficiary designation, bequest or inheritance, but only to the extent that such Options had become exercisable
before the Participant’s death (or became exercisable as a result of the death) and the underlying Shares had vested before the Participant’s death (or vested as a result of the Participant’s death). The balance of such Options shall
lapse when the Participant dies. 
 (i)    Restrictions on Transfer of Options. An Option shall be
transferable by the Participant only by (i) a beneficiary designation, (ii) a will or (iii) the laws of descent and distribution, except as provided in the next sentence. If the applicable Stock Option Agreement so provides, an NSO
shall also be transferable by gift or domestic relations order to a Family Member of the Participant. An ISO may be exercised during the lifetime of the Participant only by the Participant or by the Participant’s guardian or legal
representative. 

  
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 (j)    No Rights as a Stockholder. A Participant, or a
transferee of a Participant, shall have no rights as a stockholder with respect to any Shares covered by the Participant’s Option until such person files a notice of exercise, pays the Exercise Price and satisfies all applicable withholding
taxes pursuant to the terms of such Option. 
 (k)    Modification, Extension and Assumption of Options.
Within the limitations of the Plan, the Board of Directors may modify, extend or assume outstanding Options or may accept the cancellation of outstanding Options (whether granted by the Company or another issuer) in return for the grant of new
Options or a different type of Award for the same or a different number of Shares and at the same or a different Exercise Price (if applicable). The foregoing notwithstanding, no modification of an Option shall, without the consent of the
Participant, impair the Participant’s rights or increase the Participant’s obligations under such Option. 

(l)    Company’s Right to Cancel Certain Options. Any other provision of the Plan or a
Stock Option Agreement notwithstanding, the Company shall have the right at any time to cancel an Option that was not granted in compliance with Rule 701 under the Securities Act. Prior to canceling such Option, the Company shall give the
Participant not less than 30 days’ notice in writing. If the Company elects to cancel such Option, it shall deliver to the Participant consideration with an aggregate Fair Market Value equal to the excess of (i) the Fair Market Value of
the Shares subject to such Option as of the time of the cancellation over (ii) the Exercise Price of such Option. The consideration may be delivered in the form of cash or cash equivalents, in the form of Shares, or a combination of both. If
the consideration would be a negative amount, such Option may be cancelled without the delivery of any consideration. 

Section 7.    PAYMENT FOR SHARES. 

(a)    General Rule. The entire Purchase Price or Exercise Price of Shares issued under the Plan shall be
payable in cash or cash equivalents at the time when such Shares are purchased, except as otherwise provided in this Section 7. In addition, the Board of Directors in its sole discretion may also permit payment through any of the methods
described in (b) through (g) below. 
 (b)    Services Rendered. Shares may be awarded under the Plan
in consideration of services rendered to the Company, a Parent or a Subsidiary prior to the granting of the Award. 

(c)    Promissory Note. All or a portion of the Purchase Price or Exercise Price (as the case may be) of
Shares issued under the Plan may be paid with a full-recourse promissory note. The Shares shall be pledged as security for payment of the principal amount of the promissory note and interest thereon. The interest rate payable under the terms of the
promissory note shall not be less than the minimum rate (if any) required to avoid the imputation of additional interest under the Code. Subject to the foregoing, the Board of Directors (at its sole discretion) shall specify the term, interest rate,
amortization requirements (if any) and other provisions of such note. 
 (d)    Surrender of Stock. All or
any part of the Exercise Price may be paid by surrendering, or attesting to the ownership of, Shares that are already owned by the Participant. Such Shares shall be surrendered to the Company in good form for transfer and shall be valued at their
Fair Market Value as of the date when the Option is exercised. 

  
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 (e)    Exercise/Sale. If the Stock is publicly traded, all
or part of the Exercise Price and any withholding taxes may be paid by the delivery (on a form prescribed by the Company) of an irrevocable direction to a securities broker approved by the Company to sell Shares and to deliver all or part of the
sales proceeds to the Company. 
 (f)    Net Exercise. An Option may permit exercise through a “net
exercise” arrangement pursuant to which the Company will reduce the number of Shares issued upon exercise by the largest whole number of Shares having an aggregate Fair Market Value (determined by the Board of Directors as of the exercise date)
that does not exceed the aggregate Exercise Price or the sum of the aggregate Exercise Price plus all or a portion of the minimum amount required to be withheld under applicable tax law (with the Company accepting from the Participant payment of
cash or cash equivalents to satisfy any remaining balance of the aggregate Exercise Price and, if applicable, any additional withholding obligation not satisfied through such reduction in Shares); provided that to the extent Shares subject to an
Option are withheld in this manner, the number of Shares subject to the Option following the net exercise will be reduced by the sum of the number of Shares withheld and the number of Shares delivered to the Participant as a result of the exercise.

 (g)    Other Forms of Payment. To the extent that an Award Agreement so provides, the Purchase Price or
Exercise Price of Shares issued under the Plan may be paid in any other form permitted by the Delaware General Corporation Law, as amended. 

Section 8.    RESTRICTED STOCK UNITS AWARDS. 

(a)    General. Each Restricted Stock Unit Agreement shall be in such form and shall contain such terms and
conditions as the Board of Directors shall deem appropriate. The terms and conditions of Restricted Stock Unit Agreements may change from time to time, and the terms and conditions of separate Restricted Stock Unit Agreements need not be identical,
provided, however, that each Restricted Stock Unit Agreement shall conform to (through incorporation of the provisions hereof by reference in the Agreement or otherwise) the substance of each of the provisions of this Section 8. 

(b)    Consideration. At the time of grant of a Restricted Stock Unit Award, the Board of Directors will
determine the consideration, if any, to be paid by the Participant upon delivery of each Share subject to the Restricted Stock Unit Award. The consideration to be paid (if any) by the Participant for each Share subject to a Restricted Stock Unit
Award may be paid in any form of legal consideration that may be acceptable to the Board of Directors in its sole discretion and permissible under applicable law. 

(c)    Vesting. At the time of the grant of a Restricted Stock Unit Award, the Board of Directors may impose
such restrictions or conditions to the vesting of the Restricted Stock Unit Award as it, in its sole discretion, deems appropriate. 

(d)    Payment. A Restricted Stock Unit Award may be settled by the delivery of Shares, their cash
equivalent, any combination thereof or in any other form of consideration, as determined by the Board of Directors and contained in the Restricted Stock Unit Agreement. 

(e)    Additional Restrictions. At the time of the grant of a Restricted Stock Unit Award, the Board of
Directors, as it deems appropriate, may impose such restrictions or conditions that delay the delivery of the Shares (or their cash equivalent) subject to a Restricted Stock Unit Award to a time after the vesting of such Restricted Stock Unit Award.


  
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 (f)    Dividend Equivalents. Dividend equivalents may be
credited in respect of Shares covered by a Restricted Stock Unit Award, as determined by the Board of Directors and contained in the Restricted Stock Unit Agreement. At the sole discretion of the Board of Directors, such dividend equivalents may be
converted into additional Shares covered by the Restricted Stock Unit Award in such manner as determined by the Board of Directors. Any additional shares covered by the Restricted Stock Unit Award credited by reason of such dividend equivalents will
be subject to all the terms and conditions of the underlying Restricted Stock Unit Agreement to which they relate. 

(g)    Termination of Participant’s Continuous Service. Except as otherwise provided in
the applicable Restricted Stock Unit Agreement, such portion of the Restricted Stock Unit Award that has not vested will be forfeited upon the Participant’s termination of Service.  

Section 9.    ADJUSTMENT OF SHARES. 

(a)    General. In the event of a subdivision of the outstanding Stock, a declaration of a dividend payable
in Shares, a combination or consolidation of the outstanding Stock into a lesser number of Shares, a reclassification, or any other increase or decrease in the number of issued shares of Stock effected without receipt of consideration by the
Company, proportionate adjustments shall automatically be made in each of (i) the number and kind of Shares available for future grants under Section 4, (ii) the number and kind of Shares covered by each outstanding Option and Restricted
Stock Unit and any outstanding and unexercised right to purchase Shares that has not yet expired pursuant to Section 5(b), (iii) the Exercise Price under each outstanding Option and the Purchase Price applicable to any unexercised stock
purchase right described in clause (ii) above, and (iv) any repurchase price that applies to Shares granted under the Plan pursuant to the terms of a Company repurchase right under the applicable Award Agreement. In the event of a
declaration of an extraordinary dividend payable in a form other than Shares in an amount that has a material effect on the Fair Market Value of the Stock, a recapitalization, a spin-off, or a similar
occurrence, the Board of Directors at its sole discretion may make appropriate adjustments in one or more of the items listed in clauses (i) through (iv) above; provided, however, that the Board of Directors shall in any event make such
adjustments as may be required by Section 25102(o) of the California Corporations Code. No fractional Shares shall be issued under the Plan as a result of an adjustment under this Section 9(a), although the Board of Directors in its sole
discretion may make a cash payment in lieu of fractional Shares. 
 (b)    Corporate Transactions. In the
event that the Company is a party to a merger or consolidation, or in the event of a sale of all or substantially all of the Company’s stock or assets, all Shares acquired under the Plan and all Options, Restricted Stock Units and other Awards
outstanding on the effective date of the transaction shall be treated in the manner described in the definitive transaction agreement (or, in the event the transaction does not entail a definitive agreement to which the Company is party, in the
manner determined by the Board of Directors in its capacity as administrator of the Plan, with such determination having final and binding effect on all parties), which agreement or determination need not treat all Awards (or all portions of an
Award) in an identical manner. The treatment specified in the transaction agreement or as 

  
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determined by the Board of Directors may include (without limitation) one or more of the following with respect to each outstanding Award (or such other treatment as may be determined by the
Board of Directors): 
 (i)    Continuation of the Award by the Company (if the Company is the surviving
corporation). 
 (ii)    Assumption of the Award by the surviving corporation or its parent (in the case of an
Option, in a manner that complies with Code Section 424(a) (whether or not the Option is an ISO)). 

(iii)    Substitution of the Award by the surviving corporation or its parent (in the case of an Option, in a
manner that complies with Code Section 424(a) (whether or not the Option is an ISO)). 

(iv)    Cancellation of the Award and a payment to the Participant with respect to each Share subject to the
portion of the Award that is vested or has met any service-based requirement as of the transaction date equal to the excess of (A) the value, as determined by the Board of Directors in its absolute discretion, of the property (including cash)
received by the holder of a share of Stock as a result of the transaction, over (B) the per-Share Exercise Price (if any) of the Award (such excess, the “Spread”). Such payment
shall be made in the form of cash, cash equivalents, or securities of the surviving corporation or its parent having a value equal to the Spread. In addition, any escrow, holdback, earn-out or similar
provisions in the transaction agreement may apply to such payment to the same extent and in the same manner as such provisions apply to the holders of Stock. If the Spread applicable to an Award is zero or a negative number, then the Award may be
cancelled without making a payment to the Participant. 
 (v)    Cancellation of the Option or Restricted Stock
Unit without the payment of any consideration; provided that in the case of an Option, the Participant shall be notified of such treatment and given an opportunity to exercise the Option (to the extent the Option is vested or becomes vested as of
the effective date of the transaction) during a period of not less than five (5) business days preceding the effective date of the transaction, unless (A) a shorter period is required to permit a timely closing of the transaction and
(B) such shorter period still offers the Participant a reasonable opportunity to exercise the Option. Any exercise of the Option during such period may be contingent upon the closing of the transaction. 

(vi)    In the case of Options, suspension of the Participant’s right to exercise the Option during a limited
period of time preceding the closing of the transaction if such suspension is administratively necessary to permit the closing of the transaction. 

(vii)    In the case of Options, termination of any right the Participant has to exercise the Option prior to
vesting in the Shares subject to the Option (i.e., “early exercise”), such that following the closing of the transaction the Option may only be exercised to the extent it is vested. 

For the avoidance of doubt, the Board of Directors has discretion to accelerate, in whole or part, the vesting and exercisability of an Award in connection
with a corporate transaction covered by this Section 9(b). 

  
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 (c)    Reservation of Rights. Except as provided in this
Section 9, a Participant shall have no rights by reason of (i) any subdivision or consolidation of shares of stock of any class, (ii) the payment of any dividend or (iii) any other increase or decrease in the number of shares of
stock of any class. Any issuance by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, shall not affect, and no adjustment by reason thereof shall be made with respect to, the number or Exercise
Price of Shares subject to an Option. The grant of an Option pursuant to the Plan shall not affect in any way the right or power of the Company to make adjustments, reclassifications, reorganizations or changes of its capital or business structure,
to merge or consolidate or to dissolve, liquidate, sell or transfer all or any part of its business or assets. 

Section 10.    MISCELLANEOUS PROVISIONS. 

(a)    Securities Law Requirements. Shares shall not be issued under the Plan unless, in the opinion of
counsel acceptable to the Board of Directors, the issuance and delivery of such Shares comply with (or are exempt from) all applicable requirements of law, including (without limitation) the Securities Act, the rules and regulations promulgated
thereunder, state securities laws and regulations, and the regulations of any stock exchange or other securities market on which the Company’s securities may then be traded. The Company shall not be liable for a failure to issue Shares as a
result of such requirements. 
 (b)    No Retention Rights. Nothing in the Plan or in any Award granted
under the Plan shall confer upon the Participant any right to continue in Service for any period of specific duration or interfere with or otherwise restrict in any way the rights of the Company (or any Parent or Subsidiary employing or retaining
the Participant) or of the Participant, which rights are hereby expressly reserved by each, to terminate his or her Service at any time and for any reason, with or without cause. 

(c)    Treatment as Compensation. Any compensation that an individual earns or is deemed to earn under this
Plan shall not be considered a part of his or her compensation for purposes of calculating contributions, accruals or benefits under any other plan or program that is maintained or funded by the Company, a Parent or a Subsidiary. 

(d)    Governing Law. The Plan and all Awards, sales and grants under the Plan shall be governed by, and
construed in accordance with, the laws of the State of Delaware, as such laws are applied to contracts entered into and performed in such State. 

(e)    Conditions and Restrictions on Shares. Shares issued under the Plan shall be subject to such
forfeiture conditions, rights of repurchase, rights of first refusal, other transfer restrictions and such other terms and conditions as the Board of Directors may determine. Such conditions and restrictions shall be set forth in the applicable
Award Agreement and shall apply in addition to any restrictions that may apply to holders of Shares generally. In addition, Shares issued under the Plan shall be subject to conditions and restrictions imposed either by applicable law or by Company
policy, as adopted from time to time, designed to ensure compliance with applicable law or laws with which the Company determines in its sole discretion to comply including in order to maintain any statutory, regulatory or tax advantage. 

  
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 (f)    Tax Matters. 

(i)    As a condition to the award, grant, issuance, vesting, purchase, exercise or transfer of any Award, or
Shares issued pursuant to any Award, granted under this Plan, the Participant shall make such arrangements as the Board of Directors may require or permit for the satisfaction of any federal, state, local or foreign withholding tax obligations that
may arise in connection with such event. 
 (ii)    Unless otherwise expressly set forth in an Award Agreement,
it is intended that Awards granted under the Plan shall be exempt from Code Section 409A, and any ambiguity in the terms of an Award Agreement and the Plan shall be interpreted consistently with this intent. To the extent an Award is not exempt
from Code Section 409A (any such award, a “409A Award”), any ambiguity in the terms of such Award and the Plan shall be interpreted in a manner that to the maximum extent permissible supports the Award’s compliance
with the requirements of that statute. Notwithstanding anything to the contrary permitted under the Plan, in no event shall a modification of an Award not already subject to Code Section 409A be given effect if such modification would cause the
Award to become subject to Code Section 409A unless the parties explicitly acknowledge and consent to the modification as one having that effect. A 409A Award shall be subject to such additional rules and requirements as specified by the Board
of Directors from time to time in order for it to comply with the requirements of Code Section 409A. In this regard, if any amount under a 409A Award is payable upon a “separation from service” to an individual who is considered a
“specified employee” (as each term is defined under Code Section 409A), then no such payment shall be made prior to the date that is the earlier of (i) six months and one day after the Participant’s separation from service
or (ii) the Participant’s death, but only to the extent such delay is necessary to prevent such payment from being subject to Section 409A(a)(1). In addition, if a transaction subject to Section 9(b) constitutes a payment event
with respect to any 409A Award, then the transaction with respect to such Award must also constitute a “change in control event” as defined in Treasury Regulation Section 1.409A- 3(i)(5) to the extent required by Code
Section 409A. 
 (iii)    Neither the Company nor any member of the Board of Directors shall have any
liability to a Participant in the event an Award held by the Participant fails to achieve its intended characterization under applicable tax law. 

Section 11.    DURATION AND AMENDMENTS; STOCKHOLDER
APPROVAL. 
 (a)    Term of the Plan. The Plan, as amended and restated and set forth
herein, shall become effective on the date of its adoption by the Board of Directors, subject to approval of the Company’s stockholders under Subsection (d) below. The Plan shall terminate automatically 10 years after the later of
(i) the date when the Board of Directors adopted the Plan or (ii) the date when the Board of Directors approved the most recent increase in the number of Shares reserved under Section 4 that was also approved by the Company’s
stockholders. The Plan may be terminated on any earlier date pursuant to Subsection (b) below. 

(b)    Right to Amend or Terminate the Plan. Subject to Subsection (d) below, the Board of Directors
may amend, suspend or terminate the Plan at any time and for any reason. 

  
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 (c)    Effect of Amendment or Termination. No Shares shall
be issued or sold and no Option granted under the Plan after the termination thereof, except upon exercise of an Option (or any other right to purchase Shares) granted under the Plan prior to such termination. The termination of the Plan, or any
amendment thereof, shall not affect any Share previously issued or any Option previously granted under the Plan. 

(d)    Stockholder Approval. To the extent required by applicable law, the Plan will be subject to approval
of the Company’s stockholders within 12 months of its adoption date. To the extent required by applicable law, any amendment of the Plan will be subject to the approval of the Company’s stockholders within 12 months of the amendment date
if it (i) increases the number of Shares available for issuance under the Plan (except as provided in Section 9), or (ii) materially changes the class of persons who are eligible for the grant of ISOs. In addition, an amendment
effecting any other material change to the Plan terms will be subject to approval of the Company’s stockholder only if required by applicable law. Stockholder approval shall not be required for any other amendment of the Plan. 

Section 12.    DEFINITIONS. 

(a)    “Award” means each of the following awards granted pursuant to the terms of the Plan
and an Award Agreement: (i) Options, (ii) Restricted Stock Units, (iii) Shares and (iv) the right to purchase Shares. 

(b)    “Award Agreement” means a Stock Grant Agreement, Stock Option Agreement, Restricted
Stock Unit Agreement or Stock Purchase Agreement. 
 (c)    “Board of Directors” means
the Board of Directors of the Company, as constituted from time to time 
 (d)    “Cause”
means (i) the Participant’s unauthorized use or disclosure of the Company’s or a Subsidiary’s confidential information or trade secrets, which use or disclosure causes material harm to the Company or such Subsidiary,
(ii) the Participant’s material breach of any agreement between the Participant and the Company or a Subsidiary, (iii) the Participant’s material failure to comply with the Company’s or a Subsidiary’s written policies
or rules, (iv) the Participant’s conviction of, or plea of “guilty” or “no contest” to, a felony under the laws of the United States or any State thereof, (v) the Participant’s gross negligence or willful
misconduct, (vi) the Participant’s continuing failure to perform assigned duties after receiving written notification of the failure from the Board of Directors or (vii) the Participant’s failure to cooperate in good faith with a
governmental or internal investigation of the Company or a Subsidiary or their respective directors, officers or employees, if the Company has requested the Participant’s cooperation 

(e)    “Change in Control” shall mean (i) the consummation of a merger or
consolidation of the Company with or into another entity or (ii) the dissolution, liquidation or winding up of the Company. The foregoing notwithstanding, a merger or consolidation of the Company does not constitute a “Change in
Control” if immediately after the merger or consolidation a majority of the voting power of the capital stock of the continuing or surviving entity, or any direct or indirect parent corporation of the continuing or surviving entity, will be
owned by the persons who were 

  
 11. 













 
the Company’s stockholders immediately prior to such merger or consolidation in substantially the same proportions as their ownership of the voting power of the Company’s capital stock
immediately prior to the merger or consolidation. 
 (f)    “Code” means the Internal
Revenue Code of 1986, as amended. 
 (g)    “Committee” means a committee of the Board of
Directors, as described in Section 2(a). 
 (h)    “Company” means DigitalOcean
Holdings, Inc., a Delaware corporation. 
 (i)    “Consultant” means a person, excluding
Employees and Outside Directors, who performs bona fide services for the Company, a Parent or a Subsidiary as a consultant or advisor and who qualifies as a consultant or advisor under Rule 701(c)(1) of the Securities Act or under Instruction
A.1.(a)(1) of Form S-8 under the Securities Act. 

(j)    “Date of Grant” means the date of grant specified in the applicable Award Agreement,
which date shall be the later of (i) the date on which the Board of Directors resolved to grant the Award or (ii) the first day of the Participant’s Service. 

(k)    “Disability” means that the Participant is unable to engage in any substantial
gainful activity by reason of any medically determinable physical or mental impairment. 

(l)    “Employee” means any individual who is a
common-law employee of the Company, a Parent or a Subsidiary. 

(m)    “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

(n)    “Exercise Price” means the amount for which one Share may be purchased upon exercise
of an Option, as specified by the Board of Directors in the applicable Stock Option Agreement. 

(o)    “Fair Market Value” means the fair market value of a Share, as determined by the
Board of Directors in good faith. Such determination shall be conclusive and binding on all persons. 

(p)    “Family Member” means (i) any child, stepchild, grandchild, parent, stepparent,
grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law,
son-in-law, daughter-in-law, brother-in-law or sister-in-law, including adoptive relationships, (ii) any person sharing the Participant’s household
(other than a tenant or employee), (iii) a trust in which persons described in Clause (i) or (ii) have more than 50% of the beneficial interest, (iv) a foundation in which persons described in Clause (i) or (ii) or the Participant
controls the management of assets and (v) any other entity in which persons described in Clause (i) or (ii) or the Participant owns more than 50% of the voting interests 

(q)    “Involuntary Termination” either the Participant’s (i) Termination Without
Cause or (ii) Resignation for Good Reason. 

  
 12. 













 (r)     “ISO” means an Option that
qualifies as an incentive stock option as described in Code Section 422(b). Notwithstanding its designation as an ISO, an Option that does not qualify as an ISO under applicable law shall be treated for all purposes as an NSO. 

(s)    “NSO” means an Option that does not qualify as an incentive stock option as
described in Code Section 422(b) or 423(b). 
 (t)    “Option” means an ISO or NSO
granted under the Plan and entitling the holder to purchase Shares. 
 (u)     “Outside
Director” means a member of the Board of Directors who is not an Employee. 

(v)    “Parent” means any corporation (other than the Company) in an unbroken chain of
corporations ending with the Company, if each of the corporations other than the Company owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain. A corporation that
attains the status of a Parent on a date after the adoption of the Plan shall be considered a Parent commencing as of such date. 

(w)    “Participant” means an individual who has been granted an Award under the Plan. In
individual Award Agreements, this individual may also be referred to as an “Optionee,” “Grantee” or “Purchaser.” 

(x)    “Plan” means this DigitalOcean Holdings, Inc. 2013 Stock Plan, as amended and
restated. 
 (y)    “Purchase Price” means the consideration for which one Share may be
acquired under the Plan (other than upon exercise of an Option), as specified by the Board of Directors. 

(z)    “Resignation for Good Reason” means a Separation as a result of the
Participant’s resignation of employment within 12 months after one of the following conditions has come into existence without Participant’s consent: 

(i)    A reduction in the Participant’s base salary by more than 10% (other than in connection with a general
decrease in the salary of all similarly situated employees); or 
 (ii)    A relocation of the Participant’s
principal workplace to a facility that increases Participant’s one-way commute by more than fifty (50) miles from Participant’s commute to the location at which the Participant is employed
immediately prior to such change. 
 A Resignation for Good Reason will not be deemed to have occurred unless the Participant gives the
Company written notice of the condition within 90 days after the condition comes into existence and the Company fails to remedy the condition within 30 days after receiving the Participant’s written notice. 

(aa)     “Restricted Stock Unit Award” means a restricted stock unit award granted under
the Plan. 

  
 13. 













 (bb)    “Restricted Stock Unit Agreement”
means the agreement between the Company and a Participant that contains the terms, conditions and restrictions pertaining to the Participant’s Restricted Stock Units. 

(cc)    “Securities Act” means the Securities Act of 1933, as amended 

(dd)    “Separation” means a “separation from service,” as defined in the
regulations under Section 409A of the Code. 
 (ee)    “Service” means service as an
Employee, Outside Director or Consultant. 
 (ff)    “Share” means one share of Stock, as
adjusted in accordance with Section 9 (if applicable). 
 (gg)    “Stock” means the
Common Stock of the Company. 
 (hh)    “Stock Grant Agreement” means the agreement
between the Company and a Participant who is awarded Shares under the Plan that contains the terms, conditions and restrictions pertaining to the award of such Shares. 

(ii)    “Stock Option Agreement” means the agreement between the Company and a Participant
that contains the terms, conditions and restrictions pertaining to the Participant’s Option. 

(jj)    “Stock Purchase Agreement” means the agreement between the Company and a
Participant who purchases Shares under the Plan that contains the terms, conditions and restrictions pertaining to the purchase of such Shares. 

(kk)    “Subsidiary” means any corporation (other than the Company) in an unbroken chain of
corporations beginning with the Company, if each of the corporations other than the last corporation in the unbroken chain owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations
in such chain. A corporation that attains the status of a Subsidiary on a date after the adoption of the Plan shall be considered a Subsidiary commencing as of such date 

(ll)    “Termination Without Cause” means a Separation as a result of a termination of the
Participant’s Service by the Company (or any Parent or Subsidiary employing or retaining the Participant) without Cause, provided that the Participant is willing and able to continue performing services within the meaning of Treasury Regulation
1.409A-1(n)(1). 

  
 14. 













 EXHIBIT A 

SCHEDULE OF SHARES RESERVED FOR ISSUANCE UNDER THE PLAN 
  

							
	 Date of Board Approval
	 	 Date of Stockholder Approval
	 	 Number of Shares Added
	 	 Cumulative Number of Shares

	 May 8, 2020
	 	May 8, 2020	 	4,219,6422	 	34,821,642

  

	2 	 This is the number of shares added when the Plan was amended and restated.