EX-10.11



 Exhibit 10.11 

Execution Version 

GATES INDUSTRIAL CORPORATION PLC 

2018 OMNIBUS INCENTIVE PLAN 

1. Purpose. The purpose of the Gates Industrial Corporation plc 2018 Omnibus Incentive Plan is to provide a
means through which the Company and the other members of the Company Group may attract and retain key personnel and to provide a means whereby directors, officers, employees, consultants, and advisors of the Company and the other members of the
Company Group can acquire and maintain an equity interest in the Company, or be paid incentive compensation, including incentive compensation measured by reference to the value of Ordinary Shares, thereby strengthening their commitment to the
welfare of the Company Group and aligning their interests with those of the Company’s shareholders. 

2. Definitions. The following definitions shall be applicable throughout the Plan. 

(a) “Absolute Share Limit” has the meaning given to such term in Section 5(b) of the Plan. 

(b) “Adjustment Event” has the meaning given to such term in Section 11(a) of the Plan. 

(c) “Affiliate” means any Person that directly or indirectly controls, is controlled by, or is under common
control with the Company. The term “control” (including, with correlative meaning, the terms “controlled by” and “under common control with”), as applied to any Person, means the possession, directly or indirectly, of
the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting or other securities, by contract, or otherwise. 

(d) “Award” means, individually or collectively, any Incentive Stock Option, Nonqualified Stock Option, Stock
Appreciation Right, Restricted Stock, Restricted Stock Unit, Other Equity-Based Award, and Other Cash-Based Award granted under the Plan. 

(e) “Award Agreement” means the document or documents by which each Award (other than an Other Cash-Based Award)
is evidenced, which may be in written or electronic form. 
 (f) “Board” means the Board of Directors of the
Company. 
 (g) “Cause” means, as to any Participant, unless the applicable Award Agreement states otherwise,
(i) “Cause,” as defined in any employment or consulting agreement between the Participant and the Service Recipient or as defined in the Company’s Executive Severance Plan to the extent the Participant participates in such plan, in
each case, in effect at the time of such Termination; or (ii) in the absence of any such employment or consulting agreement (or the absence of any definition of “Cause” contained therein), the Participant’s (A) willful
neglect in the performance of the Participant’s duties for the Service Recipient or willful or repeated failure or refusal to perform such duties; (B) engagement in conduct in connection with the Participant’s employment or service
with the Service Recipient, which results in, or could reasonably be expected to result in, material harm to the business or reputation of the Service 







 
Recipient or any other member of the Company Group; (C) conviction of, or plea of guilty or no contest to, (I) any felony or (II) any other crime that results in, or could
reasonably be expected to result in, material harm to the business or reputation of the Service Recipient or any other member of the Company Group; (D) material violation of the written policies of the Service Recipient, including, but not
limited to, those relating to sexual harassment or the disclosure or misuse of confidential information, or those set forth in the manuals or statements of policy of the Service Recipient; (E) fraud or misappropriation, embezzlement, or misuse
of funds or property belonging to the Service Recipient or any other member of the Company Group; or (F) act of personal dishonesty that involves personal profit in connection with the Participant’s employment or service to the Service
Recipient; provided, in any case, a Participant’s resignation after an event that would be grounds for a Termination for Cause will be treated as a Termination for Cause hereunder. 

(h) “Change in Control” means: 

(i) the acquisition (whether by purchase, merger, consolidation, combination, or other similar transaction) by any Person
of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of more than 50% (on a fully diluted basis) of either (A) the then-outstanding Ordinary Shares, taking into
account as outstanding for this purpose such Ordinary Shares issuable upon the exercise of options or warrants, the conversion of convertible stock or debt, and the exercise of any similar right to acquire such Ordinary Shares; or (B) the
combined voting power of the then-outstanding voting securities of the Company entitled to vote generally in the election of directors; provided, however, that for purposes of the Plan, the following acquisitions shall not constitute a Change
in Control: (I) any acquisition by the Company or any Affiliate; (II) any acquisition by any employee benefit plan sponsored or maintained by the Company or any Affiliate; or (III) in respect of an Award held by a particular
Participant, any acquisition by the Participant or any group of Persons including the Participant (or any entity controlled by the Participant or any group of Persons including the Participant); 

(ii) during any period of 12 months, individuals who, at the beginning of such period, constitute the Board (the
“Incumbent Directors”) cease for any reason to constitute at least a majority of the Board; provided, that any person becoming a director subsequent to the Effective Date, whose election or nomination for election was
approved by a vote of at least two-thirds of the Incumbent Directors then on the Board (either by a specific vote or by approval of the proxy statement of the Company in which such person is named as a nominee
for director, without written objection to such nomination) shall be an Incumbent Director; provided, however, that no individual initially elected or nominated as a director of the Company as a result of an actual or threatened election
contest, as such terms are used in Rule 14a-12 of Regulation 14A promulgated under the Exchange Act, with respect to directors or as a result of any other actual or threatened solicitation of proxies or consents by or on behalf of any person other
than the Board shall be deemed to be an Incumbent Director; or 

  
 2 








 (iii) the sale, transfer, or other disposition of all or substantially all
of the assets of the Company Group (taken as a whole) to any Person that is not an Affiliate of the Company. 

(i) “Code” means the Internal Revenue Code of 1986, as amended, and any successor thereto. Reference in the Plan
to any section of the Code shall be deemed to include any regulations or other interpretative guidance under such section, and any amendments or successor provisions to such section, regulations, or guidance. 

(j) “Committee” means the Compensation Committee of the Board or any properly delegated subcommittee thereof or,
if no such Compensation Committee or subcommittee thereof exists, the Board. 
 (k) “Company” means Gates
Industrial Corporation plc, a public limited company organized under the laws of England and Wales, and any successor thereto. 

(l) “Company Group” means, collectively, the Company and its Subsidiaries. 

(m) “Date of Grant” means the date on which the granting of an Award is authorized, or such other date as may be
specified in such authorization. 
 (n) “Designated Foreign Subsidiaries” means all members of the Company
Group that are organized under the laws of any jurisdiction other than the United States of America that may be designated by the Board or the Committee from time to time. 

(o) “Detrimental Activity” means any of the following: (i) unauthorized disclosure of any confidential or
proprietary information of any member of the Company Group; (ii) any activity that would be grounds to terminate the Participant’s employment or service with the Service Recipient for Cause; (iii) a breach by the Participant of any
restrictive covenant by which such Participant is bound, including, without limitation, any covenant not to compete or not to solicit, in any agreement with any member of the Company Group; or (iv) fraud or conduct contributing to any financial
restatements or irregularities, as determined by the Committee in its sole discretion. 
 (p) “Disability”
means, as to any Participant, unless the applicable Award Agreement states otherwise, (i) “Disability,” as defined in any employment or consulting agreement between the Participant and the Service Recipient in effect at the time of such
Termination; or (ii) in the absence of any such employment or consulting agreement (or the absence of any definition of “Disability” contained therein), a condition entitling the Participant to receive benefits under a long-term
disability plan of the Service Recipient or other member of the Company Group in which such Participant is eligible to participate, or, in the absence of such a plan, the complete and permanent inability of the Participant by reason of illness or
accident to perform the duties of the position at which the Participant was employed or served when such disability commenced. Any determination of whether Disability exists in the absence of a long-term disability plan shall be made by the Company
(or its designee) in its sole and absolute discretion. 

  
 3 








 (q) “Effective Date” means the date on which the Company enters into
an agreement to consummate an initial public offering of the Ordinary Shares pursuant to a registration filed with the Securities Exchange Commission pursuant to the Securities Act. 

(r) “Eligible Person” means any (i) individual employed by any member of the Company Group; provided,
however, that no such employee covered by a collective bargaining agreement shall be an Eligible Person unless and to the extent that such eligibility is set forth in such collective bargaining agreement or in an agreement or instrument relating
thereto; (ii) director or officer of any member of the Company Group; or (iii) consultant or advisor to any member of the Company Group who may be offered securities registrable pursuant to a registration statement on Form S-8 under the Securities Act, who, in the case of each of clauses (i) through (iii) above, has entered into an Award Agreement or who has received written notification from the Committee or its designee that
they have been selected to participate in the Plan. 
 (s) “Employee Benefit Trust” means any employee benefit
trust established for the benefit of most or all of the employees or former employees of the Company Group or certain of their relatives. 

(t) “Exchange Act” means the Securities Exchange Act of 1934, as amended, and any successor thereto. Reference in
the Plan to any section of (or rule promulgated under) the Exchange Act shall be deemed to include any rules, regulations, or other interpretative guidance under such section or rule, and any amendments or successor provisions to such section,
rules, regulations, or guidance. 
 (u) “Exercise Price” has the meaning given to such term in
Section 7(b) of the Plan. 
 (v) “Fair Market Value” means, on a given date, (i) if the Ordinary
Shares are listed on a national securities exchange, the closing sales price of the Ordinary Shares reported on the primary exchange on which the Ordinary Shares are listed and traded on such date, or, if there are no such sales on that date, then
on the last preceding date on which such sales were reported; (ii) if the Ordinary Shares are not listed on any national securities exchange but is quoted in an inter-dealer quotation system on a last-sale basis, the average between the closing
bid price and ask price reported on such date, or, if there is no such sale on that date, then on the last preceding date on which a sale was reported; or (iii) if the Ordinary Shares are not listed on a national securities exchange or quoted
in an inter-dealer quotation system on a last-sale basis, the amount determined by the Committee in good faith to be the fair market value of the Ordinary Shares; provided, however, as to any Awards granted on or with a Date of Grant of the
date of the pricing of the Company’s initial public offering, “Fair Market Value” shall be equal to the per share price at which the Ordinary Shares are offered to the public in connection with such initial public offering. 

(w) “GAAP” has the meaning given to such term in Section 7(d) of the Plan. 

(x) “Immediate Family Members” has the meaning given to such term in Section 13(b) of the Plan. 

  
 4 








 (y) “Incentive Stock Option” means an Option which is designated by
the Committee as an incentive stock option as described in Section 422 of the Code and otherwise meets the requirements set forth in the Plan. 

(z) “Indemnifiable Person” has the meaning given to such term in Section 4(e) of the Plan. 

(aa) “Nonqualified Stock Option” means an Option which is not designated by the Committee as an Incentive Stock
Option. 
 (bb) “Non-Employee Director” means a member of the Board who
is not an employee of any member of the Company Group. 
 (cc) “Option” means an Award granted under
Section 7 of the Plan. 
 (dd) “Option Period” has the meaning given to such term in Section 7(c) of
the Plan. 
 (ee) “Ordinary Share” means an ordinary share of the Company, par value $0.01 per share (and any
stock or other securities into which such Ordinary Share may be converted or into which it may be exchanged). 
 (ff) “Other
Cash-Based Award” means an Award that is not a Stock Appreciation Right granted under Section 10 of the Plan that is denominated and/or payable in cash. 

(gg) “Other Equity-Based Award” means an Award that is not an Option, Stock Appreciation Right, Restricted Stock,
or Restricted Stock Unit that is granted under Section 10 of the Plan and is (i) payable by delivery of Ordinary Shares and/or (ii) measured by reference to the value of Ordinary Shares. 

(hh) “Participant” means an Eligible Person who has been selected by the Committee to participate in the Plan and
to receive an Award pursuant to the Plan. 
 (ii) “Performance Conditions” means specific levels of performance
of the Company (and/or one or more members of the Company Group, divisions or operational and/or business units, product lines, brands, business segments, administrative departments, or any combination of the foregoing), which may be determined in
accordance with GAAP or on a non-GAAP basis on the following measures: (i) net earnings, net income (before or after taxes), or consolidated net income; (ii) basic or diluted earnings per share
(before or after taxes); (iii) net revenue or net revenue growth; (iv) gross revenue or gross revenue growth, gross profit or gross profit growth; (v) net operating profit (before or after taxes); (vi) return measures (including, but not
limited to, return on investment, assets, capital, employed capital, invested capital, equity, or sales); (vii) cash flow measures (including, but not limited to, operating cash flow, free cash flow, or cash flow return on capital), which may be but
are not required to be measured on a per share basis; (viii) actual or adjusted earnings before or after interest, taxes, depreciation, and/or amortization (including EBIT and EBITDA); (ix) gross or net operating margins; (x) productivity
ratios; (xi) share price (including, but not limited to, growth measures and total shareholder return); (xii) expense targets or cost reduction goals, general and administrative expense savings; (xiii) operating efficiency;
(xiv) objective measures of 

  
 5 








 
customer/client satisfaction; (xv) working capital targets; (xvi) measures of economic value added or other ‘value creation’ metrics; (xvii) enterprise value;
(xviii) sales; (xix) shareholder return; (xx) customer/client retention; (xxi) competitive market metrics; (xxii) employee retention; (xxiii) objective measures of personal targets, goals, or completion of projects
(including, but not limited to, succession and hiring projects, completion of specific acquisitions, dispositions, reorganizations, or other corporate transactions or capital-raising transactions, expansions of specific business operations, and
meeting divisional or project budgets); (xxiv) comparisons of continuing operations to other operations; (xxv) market share; (xxvi) cost of capital, debt leverage, year-end cash position or book
value; (xxvii) strategic objectives; or (xxviii) any combination of the foregoing. Any one or more of the aforementioned performance criteria may be stated as a percentage of another performance criteria, or used on an absolute or relative
basis to measure the performance of one or more members of the Company Group as a whole or any divisions or operational and/or business units, product lines, brands, business segments, or administrative departments of the Company and/or one or more
members of the Company Group or any combination thereof, as the Committee may deem appropriate, or any of the above performance criteria may be compared to the performance of a selected group of comparison companies, or a published or special index
that the Committee, in its sole discretion, deems appropriate, or as compared to various stock market indices. 

(jj) “Permitted Transferee” has the meaning given to such term in Section 13(b) of the Plan. 

(kk) “Person” means any individual, entity, or group (within the meaning of Section 13(d)(3) or 14(d)(2) of
the Exchange Act). 
 (ll) “Plan” means this Gates Industrial Corporation plc 2018 Omnibus Incentive Plan, as
it may be amended and/or restated from time to time. 
 (mm) “Qualifying Director” means a person who is, with
respect to actions intended to obtain an exemption from Section 16(b) of the Exchange Act pursuant to Rule 16b-3 under the Exchange Act, a “non-employee
director” within the meaning of Rule 16b-3 under the Exchange Act. 

(nn) “Restricted Period” means the period of time determined by the Committee during which an Award is subject to
restrictions, including vesting conditions. 
 (oo) “Restricted Stock” means Ordinary Shares, subject to
certain specified restrictions (which may include, without limitation, a requirement that the Participant remain continuously employed or provide continuous services for a specified period of time), granted under Section 9 of the Plan. 

(pp) “Restricted Stock Unit” means an unfunded and unsecured promise to deliver Ordinary Shares, cash, other
securities, or other property, subject to certain restrictions (which may include, without limitation, a requirement that the Participant remain continuously employed or provide continuous services for a specified period of time), granted under
Section 9 of the Plan. 

  
 6 








 (qq) “SAR Period” has the meaning given to such term in
Section 8(c) of the Plan. 
 (rr) “Securities Act” means the Securities Act of 1933, as amended, and any
successor thereto. Reference in the Plan to any section of (or rule promulgated under) the Securities Act shall be deemed to include any rules, regulations, or other interpretative guidance under such section or rule, and any amendments or successor
provisions to such section, rules, regulations, or guidance. 
 (ss) “Service Recipient” means, with respect to
a Participant holding a given Award, the member of the Company Group by which the original recipient of such Award is, or following a Termination was most recently, principally employed or to which such original recipient provides, or following a
Termination was most recently providing, services, as applicable. 
 (tt) “Stock Appreciation Right” or
“SAR” means an Award granted under Section 8 of the Plan. 
 (uu) “Strike Price”
has the meaning given to such term in Section 8(b) of the Plan. 
 (vv) “Subsidiary” means, with respect
to any specified Person: 
 (i) any corporation, association, or other business entity of which more than 50% of the
total voting power of shares of such entity’s voting securities (without regard to the occurrence of any contingency and after giving effect to any voting agreement or shareholders’ agreement that effectively transfers voting power) is at
the time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person (or a combination thereof); and 

(ii) any partnership (or any comparable foreign entity) (A) the sole general partner (or functional equivalent
thereof) or the managing general partner of which is such Person or Subsidiary of such Person or (B) the only general partners (or functional equivalents thereof) of which are that Person or one or more Subsidiaries of that Person (or any
combination thereof). 
 (ww) “Substitute Award” has the meaning given to such term in Section 5(e) of the
Plan. 
 (xx) “Sub-Plans” means any
sub-plan to the Plan that has been adopted by the Board or the Committee for the purpose of permitting the offering of Awards to employees of certain Designated Foreign Subsidiaries or otherwise outside the
jurisdiction of the United States of America, with each such sub-plan designed to comply with local laws applicable to offerings in such foreign jurisdictions. Although any
Sub-Plan may be designated a separate and independent plan from the Plan in order to comply with applicable local laws, the Absolute Share Limit and the other limits specified in Section 5(b) shall apply
in the aggregate to the Plan and any Sub-Plan adopted hereunder. 

(yy) “Termination” means the termination of a Participant’s employment or service, as applicable, with the
Service Recipient for any reason (including death). 

  
 7 








 (zz) “Trustee” means the trustee or trustees of any Employee Benefit
Trust from time to time. 
 3. Effective Date; Duration. The Plan shall be effective as of the Effective
Date. The expiration date of the Plan, on and after which date no Awards may be granted hereunder, shall be the 10th anniversary of the Effective Date; provided, however, that such
expiration shall not affect Awards then outstanding, and the terms and conditions of the Plan shall continue to apply to such Awards. 

4. Administration. 

(a) General. The Committee shall administer the Plan. To the extent required to comply with the provisions of Rule 16b-3 promulgated under the Exchange Act (if the Board is not acting as the Committee under the Plan), it is intended that each member of the Committee shall, at the time such member takes any action with respect to
an Award under the Plan that is intended to qualify for the exemptions provided by Rule 16b-3 promulgated under the Exchange Act, be a Qualifying Director. However, the fact that a Committee member shall fail
to qualify as a Qualifying Director shall not invalidate any Award granted by the Committee that is otherwise validly granted under the Plan. 

(b) Committee Authority. Subject to the provisions of the Plan and applicable law, the Committee shall have the sole and plenary
authority, in addition to other express powers and authorizations conferred on the Committee by the Plan, to: (i) designate Participants; (ii) determine the type or types of Awards to be granted to a Participant; (iii) determine the
number of Ordinary Shares to be covered by, or with respect to which payments, rights, or other matters are to be calculated in connection with, Awards; (iv) determine the terms and conditions of any Award; (v) determine whether, to what
extent, and under what circumstances Awards may be settled in, or exercised for, cash, Ordinary Shares, other securities, other Awards, or other property, or canceled, forfeited, or suspended and the method or methods by which Awards may be settled,
exercised, canceled, forfeited, or suspended; (vi) determine whether, to what extent, and under what circumstances the delivery of cash, Ordinary Shares, other securities, other Awards, or other property and other amounts payable with respect
to an Award shall be deferred either automatically or at the election of the Participant or of the Committee; (vii) interpret, administer, reconcile any inconsistency in, correct any defect in, and/or supply any omission in the Plan and any
instrument or agreement relating to, or Award granted under, the Plan; (viii) establish, amend, suspend, or waive any rules and regulations and appoint such agents as the Committee shall deem appropriate for the proper administration of the
Plan; (ix) adopt Sub-Plans; and (x) make any other determination and take any other action that the Committee deems necessary or desirable for the administration of the Plan. 

(c) Delegation. Except to the extent prohibited by applicable law or the applicable rules and regulations of any securities
exchange or inter-dealer quotation system on which the securities of the Company are listed or traded, the Committee may allocate all or any portion of its responsibilities and powers to any one or more of its members and may delegate all or any
part of its responsibilities and powers to any person or persons selected by it. Any such allocation or delegation may be revoked by the Committee at any time. Without limiting the generality of the foregoing, the Committee may delegate to one or
more officers of any member 

  
 8 








 
of the Company Group the authority to act on behalf of the Committee with respect to any matter, right, obligation, or election which is the responsibility of, or which is allocated to, the
Committee herein, and which may be so delegated as a matter of law, except for grants of Awards to Non-Employee Directors. Notwithstanding the foregoing in this Section 4(c), it is intended that any
action under the Plan intended to qualify for an exemption provided by Rule 16b-3 promulgated under the Exchange Act related to persons who are subject to Section 16 of the Exchange Act will be taken only
by the Board or by a committee or subcommittee of two or more Qualifying Directors. However, the fact that any member of such committee or subcommittee shall fail to qualify as a Qualifying Director shall not invalidate any action that is otherwise
valid under the Plan. 
 (d) Finality of Decisions. Unless otherwise expressly provided in the Plan, all designations,
determinations, interpretations, and other decisions under or with respect to the Plan, any Award or any Award Agreement shall be within the sole discretion of the Committee, may be made at any time, and shall be final, conclusive, and binding upon
all Persons, including, without limitation, any member of the Company Group, any Participant, any holder or beneficiary of any Award, and any shareholder of the Company. 

(e) Indemnification. No member of the Board, the Committee or any employee or agent of any member of the Company Group (each such
Person, an “Indemnifiable Person”) shall be liable for any action taken or omitted to be taken or any determination made with respect to the Plan or any Award hereunder (unless constituting fraud or a willful criminal act or
omission). Each Indemnifiable Person shall be indemnified and held harmless by the Company against and from any loss, cost, liability, or expense (including attorneys’ fees) that may be imposed upon or incurred by such Indemnifiable Person in
connection with or resulting from any action, suit, or proceeding to which such Indemnifiable Person may be a party or in which such Indemnifiable Person may be involved by reason of any action taken or omitted to be taken or determination made with
respect to the Plan or any Award hereunder and against and from any and all amounts paid by such Indemnifiable Person with the Company’s approval, in settlement thereof, or paid by such Indemnifiable Person in satisfaction of any judgment in
any such action, suit, or proceeding against such Indemnifiable Person, and the Company shall advance to such Indemnifiable Person any such expenses promptly upon written request (which request shall include an undertaking by the Indemnifiable
Person to repay the amount of such advance if it shall ultimately be determined, as provided below, that the Indemnifiable Person is not entitled to be indemnified); provided, that the Company shall have the right, at its own expense, to
assume and defend any such action, suit, or proceeding and once the Company gives notice of its intent to assume the defense, the Company shall have sole control over such defense with counsel of the Company’s choice. The foregoing right of
indemnification shall not be available to an Indemnifiable Person to the extent that a final judgment or other final adjudication (in either case not subject to further appeal) binding upon such Indemnifiable Person determines that the acts,
omissions, or determinations of such Indemnifiable Person giving rise to the indemnification claim resulted from such Indemnifiable Person’s fraud or willful criminal act or omission or that such right of indemnification is otherwise prohibited
by law or by the organizational documents of any member of the Company Group. The foregoing right of indemnification shall not be exclusive of or otherwise supersede any other rights of indemnification to which such Indemnifiable Persons may be
entitled under the organizational documents of any member of the Company Group, as a matter of law, under an individual indemnification agreement or contract, or otherwise, or any other power that the Company may have to indemnify such Indemnifiable
Persons or hold such Indemnifiable Persons harmless. 

  
 9 








 (f) Board Authority. Notwithstanding anything to the contrary contained in the Plan,
the Board may, in its sole discretion, at any time and from time to time, grant Awards and administer the Plan with respect to such Awards. Any such actions by the Board shall be subject to the applicable rules of the securities exchange or
inter-dealer quotation system on which the Ordinary Shares are listed or quoted. In any such case, the Board shall have all the authority granted to the Committee under the Plan. 

5. Grant of Awards; Shares Subject to the Plan; Limitations. 

(a) Grants. The Committee may, from time to time, grant Awards to one or more Eligible Persons. All Awards granted under the Plan
shall vest and become exercisable in such manner and on such date or dates or upon such event or events as determined by the Committee, including, without limitation, attainment of Performance Conditions. 

(b) Share Reserve and Limits. Awards granted under the Plan shall be subject to the following limitations: (i) subject to
Section 11 of the Plan, no more than 12,500,000 Ordinary Shares (the “Absolute Share Limit”) shall be available for Awards under the Plan; provided, however, that the Absolute Share Limit shall be increased on the
first day of each fiscal year beginning with the 2019 fiscal year in an amount equal to the least of (x) 6,500,000 Ordinary Shares, (y) 2.5% of the total number of Ordinary Shares outstanding on the last day of the immediately preceding fiscal year,
and (z) a lower number of Ordinary Shares as determined by the Board; (ii) subject to Section 11 of the Plan, no more than the number of Ordinary Shares equal to the 12,500,000 may be issued in the aggregate pursuant to the
exercise of Incentive Stock Options granted under the Plan; and (iii) during a single fiscal year, each Non-Employee Director shall be granted a number of Ordinary Shares subject to Awards, taken together
with any cash fees paid to such Non-Employee Director during the fiscal year, equal to a total value of $1,000,000 (calculating the value of any such Awards based on the grant date fair value of such Awards
for financial reporting purposes) or such lower amount as determined by the Board. 
 (c) Share Counting. Other than with
respect to Substitute Awards, to the extent that an Award expires or is canceled, forfeited, or terminated without issuance to the Participant of the full number of Ordinary Shares to which the Award related, the unissued shares will again be
available for grant under the Plan. Ordinary Shares shall be deemed to have been issued in settlement of Awards if the Fair Market Value equivalent of such shares is paid in cash in connection with such settlement; provided, however, that no
shares shall be deemed to have been issued in settlement of a SAR or Restricted Stock Unit that provides for settlement only in cash and settles only in cash or in respect of any Other Cash-Based Awards. In no event shall (i) shares tendered or
withheld on exercise of Options or other Award for the payment of the exercise or purchase price or withholding taxes, (ii) shares not issued upon the settlement of a SAR that by the terms of the Award Agreement would settle in Ordinary Shares
(or could settle in Ordinary Shares), or (iii) shares purchased on the open market with cash proceeds from the exercise of Options, again become available for other Awards under the Plan. 

  
 10 








 (d) Source of Shares. Ordinary Shares issued by the Company in settlement of Awards
may be authorized and unissued shares, shares held in the treasury of the Company, shares purchased on the open market or by private purchase, or a combination of the foregoing. 

(e) Substitute Awards. Awards may, in the sole discretion of the Committee, be granted under the Plan in assumption of, or in
substitution for, outstanding awards previously granted by an entity directly or indirectly acquired by the Company or with which the Company combines (“Substitute Awards”). Substitute Awards shall not be counted against the
Absolute Share Limit; provided, that Substitute Awards issued in connection with the assumption of, or in substitution for, outstanding Options intended to qualify as “incentive stock options” within the meaning of Section 422
of the Code shall be counted against the aggregate number of Ordinary Shares available for Awards of Incentive Stock Options under the Plan. Subject to applicable stock exchange requirements, available shares under a shareholder-approved plan of an
entity directly or indirectly acquired by the Company or with which the Company combines (as appropriately adjusted to reflect the acquisition or combination transaction) may be used for Awards under the Plan and shall not reduce the number of
Ordinary Shares available for issuance under the Plan. 
 (f) Holding of Shares. Notwithstanding any other provision of the
Plan, all Ordinary Shares acquired pursuant to the Plan will be held in the facilities of the Depositary Trust Company (the “DTC”). This means that the Ordinary Shares will be held by Cede & Co as nominee for
the DTC and that when Ordinary Shares are allocated to a Participant under the Plan, their DTC participant account will be credited with a book entry interest in the relevant Ordinary Shares. It is a condition to any Ordinary Shares being
acquired under the Plan that they should be held through the facilities of the DTC in this way. No Participant in the Plan will be entitled to withdraw their Ordinary Shares from the facilities of the DTC without the prior agreement of the
Committee and for the avoidance of doubt, any stamp duty or stamp duty reserve tax arising as a result of or in connection with such withdrawal shall be for the account of the relevant Participant and the Company and the Committee take no
responsibility for any effect on the value of any Ordinary Shares or ability to trade in it as a result of any withdrawal from the facilities of the DTC. 

6. Eligibility. Participation in the Plan shall be limited to Eligible Persons. 

7. Options. 

(a) General. Each Option granted under the Plan shall be evidenced by an Award Agreement, which agreement need not be the same for
each Participant. Each Option so granted shall be subject to the conditions set forth in this Section 7, and to such other conditions not inconsistent with the Plan as may be reflected in the applicable Award Agreement. All Options granted
under the Plan shall be Nonqualified Stock Options unless the applicable Award Agreement expressly states that the Option is intended to be an Incentive Stock Option. Incentive Stock Options shall be granted only to Eligible Persons who are
employees of a member of the Company Group, and no Incentive Stock Option shall be granted to any Eligible Person who is ineligible to receive an Incentive Stock Option under the Code. No Option shall be treated as an Incentive Stock Option unless
the Plan has been approved by the shareholders of the Company in a manner intended to comply with the shareholder approval requirements of 

  
 11 








 
Section 422(b)(1) of the Code; provided, that any Option intended to be an Incentive Stock Option shall not fail to be effective solely on account of a failure to obtain such
approval, but rather such Option shall be treated as a Nonqualified Stock Option unless and until such approval is obtained. In the case of an Incentive Stock Option, the terms and conditions of such grant shall be subject to, and comply with, such
rules as may be prescribed by Section 422 of the Code. If for any reason an Option intended to be an Incentive Stock Option (or any portion thereof) shall not qualify as an Incentive Stock Option, then, to the extent of such nonqualification,
such Option or portion thereof shall be regarded as a Nonqualified Stock Option appropriately granted under the Plan. 
 (b) Exercise
Price. Except as otherwise provided by the Committee in the case of Substitute Awards, the exercise price (“Exercise Price”) per Ordinary Share for each Option shall not be less than 100% of the Fair Market Value of such
share (determined as of the Date of Grant); provided, however, that in the case of an Incentive Stock Option granted to an employee who, at the time of the grant of such Option, owns stock representing more than 10% of the voting power of all
classes of stock of any member of the Company Group, the Exercise Price per share shall be no less than 110% of the Fair Market Value per share on the Date of Grant. Notwithstanding the foregoing, if the Fair Market Value of a Share is less than its
par value the Exercise Price in respect of an Option to subscribe for Ordinary Shares shall not be less than such par value. 
 (c)
Vesting and Expiration. 
 (i) Options shall vest and become exercisable in such manner and on such date or dates
or upon such event or events as determined by the Committee including, without limitation, those set forth in Section 5(a) of the Plan; provided, however, that notwithstanding any such vesting dates or events, the Committee may in its
sole discretion accelerate the vesting of any Options at any time and for any reason. Options shall expire upon a date determined by the Committee, not to exceed 10 years from the Date of Grant (the “Option Period”);
provided, that if the Option Period (other than in the case of an Incentive Stock Option) would expire at a time when trading in the Ordinary Shares is prohibited by the Company’s insider trading policy (or Company-imposed “blackout
period”), then the Option Period shall be automatically extended until the 30th day following the expiration of such prohibition. Notwithstanding the foregoing, in no event shall the Option
Period exceed five years from the Date of Grant in the case of an Incentive Stock Option granted to a Participant who on the Date of Grant owns stock representing more than 10% of the voting power of all classes of stock of any member of the Company
Group. 
 (ii) Unless otherwise provided by the Committee, whether in an Award Agreement or otherwise, in the event of:
(A) a Participant’s Termination by the Service Recipient for Cause, all outstanding Options granted to such Participant shall immediately terminate and expire; (B) a Participant’s Termination due to death or Disability, each
outstanding unvested Option granted to such Participant shall immediately terminate and expire, and each outstanding vested Option shall remain exercisable for one year thereafter (but in no event beyond the expiration of the Option Period); and
(C) a Participant’s Termination for any other reason, each outstanding 

  
 12 








 
unvested Option granted to such Participant shall immediately terminate and expire, and each outstanding vested Option shall remain exercisable for 90 days thereafter (but in no event beyond the
expiration of the Option Period). 
 (d) Method of Exercise and Form of Payment. No Ordinary Shares shall be issued pursuant to any
exercise of an Option until payment in full of the Exercise Price therefor is received by the Company and the Participant has paid to the Company an amount equal to any Federal, state, local, and non-U.S.
income, employment, and any other applicable taxes required to be withheld. Options which have become exercisable may be exercised by delivery of written or electronic notice of exercise to the Company (or telephonic instructions to the extent
provided by the Committee) in accordance with the terms of the Option accompanied by payment of the Exercise Price. The Exercise Price shall be payable: (i) in cash, or (ii) by such other method as the Committee may permit in its sole
discretion, including, without limitation: (A) if there is a public market for the Ordinary Shares at such time, by means of a broker-assisted “cashless exercise” pursuant to which the Company is delivered (including telephonically to
the extent permitted by the Committee) a copy of irrevocable instructions to a stockbroker to sell the Ordinary Shares otherwise issuable upon the exercise of the Option and to deliver promptly to the Company an amount equal to the Exercise Price;
or (B) a “net exercise” procedure effected by the settlement of the Award in a combination of: (i) Ordinary Shares; and (ii) cash, where the amount of cash is sufficient to pay the Exercise Price and all applicable required
withholding and any other applicable taxes required to be withheld. Any fractional Ordinary Shares shall be settled in cash. 
 (e)
Notification upon Disqualifying Disposition of an Incentive Stock Option. Each Participant awarded an Incentive Stock Option under the Plan shall notify the Company in writing immediately after the date the Participant makes a disqualifying
disposition of any Ordinary Shares acquired pursuant to the exercise of such Incentive Stock Option. A disqualifying disposition is any disposition (including, without limitation, any sale) of such Ordinary Shares before the later of (i) the
date that is two years after the Date of Grant of the Incentive Stock Option or (ii) the date that is one year after the date of exercise of the Incentive Stock Option. The Company may, if determined by the Committee and in accordance with
procedures established by the Committee, retain possession, as agent for the applicable Participant, of any Ordinary Shares acquired pursuant to the exercise of an Incentive Stock Option until the end of the period described in the preceding
sentence, subject to complying with any instructions from such Participant as to the sale of such Ordinary Shares. 
 (f) Compliance With
Laws, etc. Notwithstanding the foregoing, in no event shall a Participant be permitted to exercise an Option in a manner which the Committee determines would violate the Sarbanes-Oxley Act of 2002, as it may be amended from time to time, or any
other applicable law or the applicable rules and regulations of the Securities and Exchange Commission or the applicable rules and regulations of any securities exchange or inter-dealer quotation system on which the securities of the Company are
listed or traded (including, without limitation, the Financial Conduct Authority of the United Kingdom). 
 8. Stock
Appreciation Rights. 

  
 13 








 (a) General. Each SAR granted under the Plan shall be evidenced by an Award Agreement.
Each SAR so granted shall be subject to the conditions set forth in this Section 8, and to such other conditions not inconsistent with the Plan as may be reflected in the applicable Award Agreement. Any Option granted under the Plan may include
tandem SARs. The Committee also may award SARs to Eligible Persons independent of any Option. 
 (b) Strike Price. Except as
otherwise provided by the Committee in the case of Substitute Awards, the strike price (“Strike Price”) per Ordinary Share for each SAR shall not be less than 100% of the Fair Market Value of such share (determined as of the
Date of Grant). Notwithstanding the foregoing, a SAR granted in tandem with (or in substitution for) an Option previously granted shall have a Strike Price equal to the Exercise Price of the corresponding Option. 

(c) Vesting and Expiration; Termination. 

(i) A SAR granted in connection with an Option shall become exercisable and shall expire according to the same vesting
schedule and expiration provisions as the corresponding Option. A SAR granted independent of an Option shall vest and become exercisable in such manner and on such date or dates or upon such event or events as determined by the Committee including,
without limitation, those set forth in Section 5(a) of the Plan; provided, however, that notwithstanding any such vesting dates or events, the Committee may, in its sole discretion, accelerate the vesting of any SAR at any time and for
any reason. SARs shall expire upon a date determined by the Committee, not to exceed 10 years from the Date of Grant (the “SAR Period”); provided, that if the SAR Period would expire at a time when trading in the
Ordinary Shares is prohibited by the Company’s insider trading policy (or Company-imposed “blackout period”), then the SAR Period shall be automatically extended until the 30th day
following the expiration of such prohibition. 
 (ii) Unless otherwise provided by the Committee, whether in an Award
Agreement or otherwise, in the event of: (A) a Participant’s Termination by the Service Recipient for Cause, all outstanding SARs granted to such Participant shall immediately terminate and expire; (B) a Participant’s Termination
due to death or Disability, each outstanding unvested SAR granted to such Participant shall immediately terminate and expire, and each outstanding vested SAR shall remain exercisable for one year thereafter (but in no event beyond the expiration of
the SAR Period); and (C) a Participant’s Termination for any other reason, each outstanding unvested SAR granted to such Participant shall immediately terminate and expire, and each outstanding vested SAR shall remain exercisable for 90
days thereafter (but in no event beyond the expiration of the SAR Period). 
 (d) Method of Exercise. SARs which have become
exercisable may be exercised by delivery of written or electronic notice of exercise to the Company in accordance with the terms of the Award, specifying the number of SARs to be exercised and the date on which such SARs were awarded. 

  
 14 








 (e) Payment. Upon the exercise of a SAR, the Company shall pay to the Participant an
amount equal to the number of shares subject to the SAR that is being exercised multiplied by the excess of the Fair Market Value of one Ordinary Share on the exercise date over the Strike Price, less an amount equal to any Federal, state, local,
and non-U.S. income, employment, and any other applicable taxes and employee and, if applicable, employer social security contributions required to be withheld. The Company shall pay, or procure the payment
of, such amount in cash, in Ordinary Shares valued at Fair Market Value, or any combination thereof, as determined by the Committee. Any fractional Ordinary Shares shall be settled in cash. Where payment is made in Ordinary Shares, such payment may
be satisfied by the transfer of Ordinary Shares by the Trustee to the Participant. 
 9. Restricted Stock and
Restricted Stock Units. 
 (a) General. Each grant of Restricted Stock and Restricted Stock Units shall be evidenced by an Award
Agreement. Each Restricted Stock and Restricted Stock Unit so granted shall be subject to the conditions set forth in this Section 9, and to such other conditions not inconsistent with the Plan as may be reflected in the applicable Award
Agreement. 
 (b) Stock Certificates and Book-Entry; Escrow or Similar Arrangement. Upon the grant of Restricted Stock, the
Committee shall cause a stock certificate registered in the name of the Participant to be issued or shall cause Ordinary Shares to be registered in the name of the Participant and held in book-entry form subject to the Company’s directions and,
if the Committee determines that the Restricted Stock shall be held by the Company or in escrow rather than issued to the Participant pending the release of the applicable restrictions, the Committee may require the Participant to additionally
execute and deliver to the Company (i) an escrow agreement satisfactory to the Committee, if applicable, and (ii) the appropriate stock power (endorsed in blank) with respect to the Restricted Stock covered by such agreement. If a
Participant shall fail to execute and deliver (in a manner permitted under Section 13(a) of the Plan or as otherwise determined by the Committee) an agreement evidencing an Award of Restricted Stock and, if applicable, an escrow agreement and
blank stock power within the amount of time specified by the Committee, the Award shall be null and void. Subject to the restrictions set forth in this Section 9, Section 13(c) of the Plan, and the applicable Award Agreement, a Participant
generally shall have the rights and privileges of a shareholder as to shares of Restricted Stock, including, without limitation, the right to vote such Restricted Stock; provided, that if the lapsing of restrictions with respect to any grant
of Restricted Stock is contingent on satisfaction of Performance Conditions (other than, or in addition to, the passage of time), any dividends payable on such shares of Restricted Stock shall be held by the Company and delivered (without interest)
to the Participant within 15 days following the date on which the restrictions on such Restricted Stock lapse (and the right to any such accumulated dividends shall be forfeited upon the forfeiture of the Restricted Stock to which such dividends
relate). To the extent shares of Restricted Stock are forfeited, any stock certificates issued to the Participant evidencing such shares shall be returned to the Company. The Participant shall transfer such shares to such Person (including but not
limited to the Trustee) as the Company shall direct, and all rights of the Participant to such shares and as a shareholder with respect thereto shall terminate without further obligation on the part of the Company. A Participant shall have no rights
or privileges as a shareholder as to Restricted Stock Units. 

  
 15 








 (c) Vesting; Termination. 

(i) Restricted Stock and Restricted Stock Units shall vest, and any applicable Restricted Period shall lapse, in such
manner and on such date or dates or upon such event or events as determined by the Committee, including, without limitation, those set forth in Section 5(a) of the Plan; provided, however, that, notwithstanding any such dates or events,
the Committee may, in its sole discretion, accelerate the vesting of any Restricted Stock or Restricted Stock Unit or the lapsing of any applicable Restricted Period at any time and for any reason. 

(ii) Unless otherwise provided by the Committee, whether in an Award Agreement or otherwise, in the event of a
Participant’s Termination for any reason prior to the time that such Participant’s Restricted Stock or Restricted Stock Units, as applicable, have vested, (A) all vesting with respect to such Participant’s Restricted Stock or
Restricted Stock Units, as applicable, shall cease and (B) unvested shares of Restricted Stock and unvested Restricted Stock Units, as applicable, shall be forfeited to the Company and the Participant shall transfer such shares to such Person
(including but not limited to the Trustee) as the Company shall direct, by the Participant for no consideration as of the date of such Termination. 

(d) Issuance of Restricted Stock and Settlement of Restricted Stock Units. 

(i) Upon the expiration of the Restricted Period with respect to any shares of Restricted Stock, the restrictions set
forth in the applicable Award Agreement shall be of no further force or effect with respect to such shares, except as set forth in the applicable Award Agreement. If an escrow arrangement is used, upon such expiration, the Company shall issue to the
Participant, or the Participant’s beneficiary, without charge, the stock certificate (or, if applicable, a notice evidencing a book-entry notation) evidencing the shares of Restricted Stock which have not then been forfeited and with respect to
which the Restricted Period has expired (rounded down to the nearest full share). Dividends, if any, that may have been withheld by the Committee and attributable to any particular share of Restricted Stock shall be distributed to the Participant in
cash or, in the sole discretion of the Committee, in Ordinary Shares having a Fair Market Value (on the date of distribution) equal to the amount of such dividends, upon the release of restrictions on such share and, if such share is forfeited, the
Participant shall have no right to such dividends. 
 (ii) Unless otherwise provided by the Committee in an Award
Agreement or otherwise, upon the expiration of the Restricted Period with respect to any outstanding Restricted Stock Units, the Company shall issue or procure the transfer, to the Participant or the Participant’s beneficiary, without charge,
one Ordinary Share (or other securities or other property, as applicable) for each such outstanding Restricted Stock Unit; provided, however, that the Committee may, in its sole discretion, elect to (A) pay cash or part cash and part
Ordinary Shares in lieu of issuing only Ordinary Shares in respect of such Restricted Stock Units; or (B) defer the issuance of Ordinary Shares (or cash or part cash and part Ordinary Shares, as the case may be) beyond the expiration of the
Restricted Period if such extension would not cause adverse tax consequences under Section 409A 

  
 16 








 
of the Code. If a cash payment is made in lieu of issuing Ordinary Shares in respect of such Restricted Stock Units, the amount of such payment shall be equal to the Fair Market Value per
Ordinary Share as of the date on which the Restricted Period lapsed with respect to such Restricted Stock Units. 
 (e) Legends on
Restricted Stock. Each certificate, if any, or book entry representing Restricted Stock awarded under the Plan, if any, shall bear a legend or book entry notation substantially in the form of the following, in addition to any other information
the Company deems appropriate, until the lapse of all restrictions with respect to such Ordinary Shares: 
 TRANSFER OF THIS CERTIFICATE AND
THE SHARES REPRESENTED HEREBY IS RESTRICTED PURSUANT TO THE TERMS OF THE GATES INDUSTRIAL CORPORATION PLC 2018 OMNIBUS INCENTIVE PLAN AND A RESTRICTED STOCK AWARD AGREEMENT BETWEEN GATES INDUSTRIAL CORPORATION PLC AND THE PARTICIPANT. A COPY OF SUCH
PLAN AND AWARD AGREEMENT IS ON FILE AT THE PRINCIPAL EXECUTIVE OFFICES OF GATES INDUSTRIAL CORPORATION PLC. 

10. Other Equity-Based Awards and Other Cash-Based Awards. The Committee may grant Other Equity-Based Awards
and Other Cash-Based Awards under the Plan to Eligible Persons, alone or in tandem with other Awards, in such amounts and dependent on such conditions as the Committee shall from time to time in its sole discretion determine, including, without
limitation, those set forth in Section 5(a) of the Plan. Each Other Equity-Based Award granted under the Plan shall be evidenced by an Award Agreement and each Other Cash-Based Award granted under the Plan shall be evidenced in such form as the
Committee may determine from time to time. Each Other Equity-Based Award or Other Cash-Based Award, as applicable, so granted shall be subject to such conditions not inconsistent with the Plan as may be reflected in the applicable Award Agreement or
other form evidencing such Award, including, without limitation, those set forth in Section 13(a) of the Plan. 

11. Changes in Capital Structure and Similar Events. Notwithstanding any other provision in the Plan to the
contrary, the following provisions shall apply to all Awards granted hereunder (other than Other Cash-Based Awards): 

(a) General. In the event of (i) any dividend (other than regular cash dividends) or other distribution (whether in the form
of cash, Ordinary Shares, other securities, or other property), recapitalization, share split, reverse share split, reorganization, merger, consolidation, split-up,
split-off, spin-off, combination, repurchase, or exchange of Ordinary Shares or other securities of the Company, issuance of warrants or other rights to acquire Ordinary
Shares or other securities of the Company, or other similar corporate transaction or event that affects the Ordinary Shares (including a Change in Control), or (ii) unusual or nonrecurring events affecting the Company, including changes in
applicable rules, rulings, regulations, or other requirements, that the Committee determines, in its sole discretion, could result in substantial dilution or enlargement of the rights intended to be granted to, or available for, Participants (any
event in (i) or (ii), an “Adjustment Event”), the Committee shall, in respect of any such Adjustment Event, make such proportionate substitution or adjustment, if any, as it deems equitable, to any or all of (A) the
Absolute Share Limit, or any other limit applicable under the 

  
 17 








 
Plan with respect to the number of Awards which may be granted hereunder, (B) the number of Ordinary Shares or other securities of the Company (or number and kind of other securities or
other property) which may be issued in respect of Awards or with respect to which Awards may be granted under the Plan or any Sub-Plan, and (C) the terms of any outstanding Award, including, without
limitation, (I) the number of Ordinary Shares or other securities of the Company (or number and kind of other securities or other property) subject to outstanding Awards or to which outstanding Awards relate, (II) the Exercise Price or
Strike Price with respect to any Award, or (III) any applicable performance measures; provided, that in the case of any “equity restructuring” (within the meaning of the Financial Accounting Standards Board Accounting Standards
Codification Topic 718 (or any successor pronouncement thereto)), the Committee shall make an equitable or proportionate adjustment to outstanding Awards to reflect such equity restructuring; and provided, further, that, except as
otherwise provided by the Committee, whether in an Award Agreement or otherwise, in the event of a Participant’s Termination within the two-year period following a Change in Control by the Service
Recipient without Cause (excluding, for the avoidance of doubt, a Termination due to death or Disability or any voluntary Termination by the Participant), all Awards held by the Participant shall become fully vested upon such Termination. Any
adjustment under this Section 11 shall be conclusive and binding for all purposes. 
 (b) Adjustment Events. Without
limiting the foregoing, except as may otherwise be provided in an Award Agreement, in connection with any Adjustment Event, the Committee may, in its sole discretion, provide for any one or more of the following: 

(i) substitution or assumption of Awards (or awards of an acquiring company), acceleration of the exercisability of, lapse
of restrictions on, or termination of Awards, or a period of time (which shall not be required to be more than 10 days) for Participants to exercise outstanding Awards prior to the occurrence of such event (and any such Award not so exercised shall
terminate upon the occurrence of such event); and 
 (ii) subject to any limitations or reductions as may be necessary
to comply with Section 409A of the Code, cancellation of any one or more outstanding Awards and payment to the holders of such Awards that are vested as of such cancellation (including, without limitation, any Awards that would vest as a result
of the occurrence of such event but for such cancellation or for which vesting is accelerated by the Committee in connection with such event) the value of such Awards, if any, as determined by the Committee (which value, if applicable, may be based
upon the price per Ordinary Share received or to be received by other shareholders of the Company in such event), including, without limitation, in the case of an outstanding Option or SAR, a cash payment in an amount equal to the excess, if any, of
the Fair Market Value (as of a date specified by the Committee) of the Ordinary Shares subject to such Option or SAR over the aggregate Exercise Price or Strike Price of such Option or SAR (it being understood that, in such event, any Option or SAR
having a per share Exercise Price or Strike Price equal to, or in excess of, the Fair Market Value of an Ordinary Share subject thereto may be canceled and terminated without any payment or consideration therefor), or, in the case of Restricted
Stock, Restricted Stock Units, or Other Equity-Based Awards that are not vested as of such cancellation, a cash payment or equity subject to deferred vesting and delivery consistent with the vesting restrictions applicable to such Restricted Stock,
Restricted Stock Units, or Other Equity-Based Awards prior to cancellation, or the underlying shares in respect thereof. 

  
 18 








 Payments to holders pursuant to clause (ii) above shall be made in cash or, in the sole discretion of the
Committee, in the form of such other consideration necessary for a Participant to receive property, cash, or securities (or combination thereof) as such Participant would have been entitled to receive upon the occurrence of the transaction if the
Participant had been, immediately prior to such transaction, the holder of the number of Ordinary Shares covered by the Award at such time (less any applicable Exercise Price or Strike Price). 

(c) Other Requirements. Prior to any payment or adjustment contemplated under this Section 11, the Committee may require a
Participant to (i) represent and warrant as to the unencumbered title to the Participant’s Awards, (ii) bear such Participant’s pro rata share of any post-closing indemnity obligations, and be subject to the same post-closing
purchase price adjustments, escrow terms, offset rights, holdback terms, and similar conditions as the other holders of Ordinary Shares, subject to any limitations or reductions as may be necessary to comply with Section 409A of the Code, and
(iii) deliver customary transfer documentation as reasonably determined by the Committee. 
 (d) Fractional Shares. Any
adjustment provided under this Section 11 may provide for the elimination of any fractional share that might otherwise become subject to an Award. 

(e) Binding Effect. Any adjustment, substitution, determination of value or other action taken by the Committee under this
Section 11 shall be conclusive and binding for all purposes. 
 12. Amendments and Termination. 

(a) Amendment and Termination of the Plan. The Board may amend, alter, suspend, discontinue, or terminate the Plan or any portion
thereof at any time; provided, that no such amendment, alteration, suspension, discontinuance, or termination shall be made without shareholder approval if: (i) such approval is necessary to comply with any regulatory requirement
applicable to the Plan (including, without limitation, as necessary to comply with any rules or regulations of any securities exchange or inter-dealer quotation system on which the securities of the Company may be listed or quoted) or for changes in
GAAP to new accounting standards; (ii) it would materially increase the number of securities which may be issued under the Plan (except for increases pursuant to Section 5 or 11 of the Plan) or (iii) it would materially modify the
requirements for participation in the Plan; provided, further, that any such amendment, alteration, suspension, discontinuance, or termination that would materially and adversely affect the rights of any Participant or any holder or
beneficiary of any Award theretofore granted shall not to that extent be effective without the consent of the affected Participant, holder, or beneficiary. Notwithstanding the foregoing, no amendment shall be made to Section 13(c) of the Plan
without shareholder approval. 
 (b) Amendment of Award Agreements. The Committee may, to the extent consistent with the terms
of the Plan and any applicable Award Agreement, waive any conditions or rights under, amend any terms of, or alter, suspend, discontinue, cancel, or 

  
 19 








 
terminate, any Award theretofore granted or the associated Award Agreement, prospectively or retroactively (including after a Participant’s Termination); provided, that, other than
pursuant to Section 11, any such waiver, amendment, alteration, suspension, discontinuance, cancellation, or termination that would materially and adversely affect the rights of any Participant with respect to any Award theretofore granted
shall not to that extent be effective without the consent of the affected Participant. 
 (c) No Repricing. Notwithstanding
anything in the Plan to the contrary, without shareholder approval, except as otherwise permitted under Section 11 of the Plan, (i) no amendment or modification may reduce the Exercise Price of any Option or the Strike Price of any SAR;
(ii) the Committee may not cancel any outstanding Option or SAR and replace it with a new Option or SAR (with a lower Exercise Price or Strike Price, as the case may be) or other Award or cash payment that is greater than the intrinsic value
(if any) of the cancelled Option or SAR; and (iii) the Committee may not take any other action which is considered a “repricing” for purposes of the shareholder approval rules of any securities exchange or inter-dealer quotation
system on which the securities of the Company are listed or quoted. 
 13. General. 

(a) Award Agreements. Each Award (other than an Other Cash-Based Award) under the Plan shall be evidenced by an Award Agreement,
which shall be delivered to the Participant to whom such Award was granted and shall specify the terms and conditions of the Award and any rules applicable thereto, including, without limitation, the effect on such Award of the death, Disability, or
Termination of a Participant, or of such other events as may be determined by the Committee. For purposes of the Plan, an Award Agreement may be in any such form (written or electronic) as determined by the Committee (including, without limitation,
a Board or Committee resolution, an employment agreement, a notice, a certificate, or a letter) evidencing the Award. The Committee need not require an Award Agreement to be signed by the Participant or a duly authorized representative of the
Company. 
 (b) Nontransferability. 

(i) Each Award shall be exercisable only by such Participant to whom such Award was granted during the Participant’s
lifetime, or, if permissible under applicable law, by the Participant’s legal guardian or representative. No Award may be assigned, alienated, pledged, attached, sold, or otherwise transferred or encumbered by a Participant (unless such
transfer is specifically required pursuant to a domestic relations order or by applicable law) other than by will or by the laws of descent and distribution and any such purported assignment, alienation, pledge, attachment, sale, transfer, or
encumbrance shall be void and unenforceable against any member of the Company Group; provided, that the designation of a beneficiary shall not constitute an assignment, alienation, pledge, attachment, sale, transfer, or encumbrance. 

(ii) Notwithstanding the foregoing, the Committee may, in its sole discretion, permit Awards (other than Incentive Stock
Options) to be transferred by a Participant, without consideration, subject to such rules as the Committee may adopt consistent with any applicable Award Agreement to preserve the purposes of the Plan, to: (A) any person


  
 20 








 
who is a “family member” of the Participant, as such term is used in the instructions to Form S-8 under the Securities Act or any successor form
of registration statement promulgated by the Securities and Exchange Commission (collectively, the “Immediate Family Members”); (B) a trust solely for the benefit of the Participant and the Participant’s Immediate Family
Members; (C) a partnership or limited liability company whose only partners or shareholders are the Participant and the Participant’s Immediate Family Members; or (D) a beneficiary to whom donations are eligible to be treated as
“charitable contributions” for federal income tax purposes (each transferee described in clauses (A), (B), (C), and (D) above is hereinafter referred to as a “Permitted Transferee”); provided, that the
Participant gives the Committee advance written notice describing the terms and conditions of the proposed transfer and the Committee notifies the Participant in writing that such a transfer would comply with the requirements of the Plan. 

(iii) The terms of any Award transferred in accordance with clause (ii) above shall apply to the Permitted Transferee
and any reference in the Plan, or in any applicable Award Agreement, to a Participant shall be deemed to refer to the Permitted Transferee, except that: (A) Permitted Transferees shall not be entitled to transfer any Award, other than by will
or the laws of descent and distribution; (B) Permitted Transferees shall not be entitled to exercise any transferred Option unless there shall be in effect a registration statement on an appropriate form covering the Ordinary Shares to be
acquired pursuant to the exercise of such Option if the Committee determines, consistent with any applicable Award Agreement, that such a registration statement is necessary or appropriate; (C) neither the Committee nor the Company shall be
required to provide any notice to a Permitted Transferee, whether or not such notice is or would otherwise have been required to be given to the Participant under the Plan or otherwise; and (D) the consequences of a Participant’s
Termination under the terms of the Plan and the applicable Award Agreement shall continue to be applied with respect to the Participant, including, without limitation, that an Option shall be exercisable by the Permitted Transferee only to the
extent, and for the periods, specified in the Plan and the applicable Award Agreement. 
 (c) Dividends and Dividend
Equivalents. The Committee may, in its sole discretion, provide a Participant as part of an Award with dividends, dividend equivalents, or similar payments in respect of Awards, payable in cash, Ordinary Shares, other securities, other Awards,
or other property, on a current or deferred basis, on such terms and conditions as may be determined by the Committee in its sole discretion, including, without limitation, payment directly to the Participant, the transfer of Ordinary Shares from,
including but not limited to, the Trustee to the Participant, withholding of such amounts by the Company subject to vesting of the Award, or reinvestment in additional Ordinary Shares, Restricted Stock, or other Awards; provided, that no
dividends, dividend equivalents, or other similar payments shall be payable in respect of outstanding (i) Options or SARs or (ii) other unearned Awards subject to Performance Conditions (other than, or in addition to, the passage of time)
(although dividends, dividend equivalents, or other similar payments may be accumulated in respect of unearned Awards and paid within 15 days after such Awards are earned and become payable or distributable). Dividends, if any, that may have been
withheld by the Committee and attributable to any particular share of Restricted Stock shall be distributed to the Participant in 

  
 21 








 
cash or, in the sole discretion of the Committee, in Ordinary Shares having a Fair Market Value (on the date of distribution) equal to the amount of such dividends, upon the release of
restrictions on such share and, if such share is forfeited, the Participant shall have no right to such dividends. Where payment is made in Ordinary Shares, such payment may be satisfied by the transfer of Ordinary Shares by the Trustee to the
Participant. 
 (d) Tax Withholding. 

(i) A Participant shall be required to pay to the Company or one or more of its Subsidiaries, as applicable, an amount in
cash (by check or wire transfer) equal to the aggregate amount of any income, employment, and/or other applicable taxes and employee and, if applicable, employer social security contributions that are statutorily required to be withheld in respect
of an Award. Alternatively, the Company or any of its Subsidiaries may elect, in its sole discretion, to satisfy this requirement by withholding such amount from any cash compensation or other cash amounts owing to a Participant. 

(ii) Without limiting the foregoing, the Committee may (but is not obligated to), in its sole discretion, permit or
require a Participant to satisfy all or any portion of the minimum income, employment, and/or other applicable taxes and employee and, if applicable, employer social security contributions that are statutorily required to be withheld with respect to
an Award by ) way of a settlement procedure effected by the settlement of the Award in a combination of: (i) Ordinary Shares; and (ii) cash, where the amount of cash is sufficient to pay all applicable required withholding and any other
applicable taxes required to be withheld. 
 (iii) The Committee, subject to its having considered the applicable
accounting impact of any such determination, has full discretion to allow Participants to satisfy, in whole or in part, any additional income, employment, and/or other applicable taxes and employee and, if applicable, employer social security
contributions payable by them with respect to an Award by electing to receive part of the Award in cash, where the amount of cash is equal to the income, employment, and/or other applicable taxes and employee and, if applicable, employer social
security contributions that have arisen, with the remainder of the Award being settled in Ordinary Shares. 
 (e) Data Protection. By
participating in the Plan or accepting any rights granted under it, each Participant consents to the collection and processing of personal data relating to the Participant so that the Company and its Affiliates can fulfill their obligations and
exercise their rights under the Plan and generally administer and manage the Plan. This data will include, but may not be limited to, data about participation in the Plan and shares offered or received, purchased, or sold under the Plan from time to
time and other appropriate financial and other data (such as the date on which the Awards were granted) about the Participant and the Participant’s participation in the Plan. 

(f) No Claim to Awards; No Rights to Continued Employment; Waiver. No employee of any member of the Company Group, or other
Person, shall have any claim or right to be granted an Award under the Plan or, having been selected for the grant of an Award, to be 

  
 22 








 
selected for a grant of any other Award. There is no obligation for uniformity of treatment of Participants or holders or beneficiaries of Awards. The terms and conditions of Awards and the
Committee’s determinations and interpretations with respect thereto need not be the same with respect to each Participant and may be made selectively among Participants, whether or not such Participants are similarly situated. Neither the Plan
nor any action taken hereunder shall be construed as giving any Participant any right to be retained in the employ or service of the Service Recipient or any other member of the Company Group, nor shall it be construed as giving any Participant any
rights to continued service on the Board. The Service Recipient or any other member of the Company Group may at any time dismiss a Participant from employment or discontinue any consulting relationship, free from any liability or any claim under the
Plan, unless otherwise expressly provided in the Plan or any Award Agreement. By accepting an Award under the Plan, a Participant shall thereby be deemed to have waived any claim to continued exercise or vesting of an Award or to damages or
severance entitlement related to non-continuation of the Award beyond the period provided under the Plan or any Award Agreement, except to the extent of any provision to the contrary in any written employment
contract or other agreement between the Service Recipient and/or any member of the Company Group and the Participant, whether any such agreement is executed before, on, or after the Date of Grant. 

(g) International Participants. With respect to Participants who reside or work outside of the United States of America, the
Committee may, in its sole discretion, amend the terms of the Plan and create or amend Sub-Plans or amend outstanding Awards with respect to such Participants in order to conform such terms with the
requirements of local law or to obtain more favorable tax or other treatment for a Participant or any member of the Company Group. 

(h) Designation and Change of Beneficiary. Each Participant may file with the Committee a written designation of one or more
Persons as the beneficiary or beneficiaries, as applicable, who shall be entitled to receive the amounts payable with respect to an Award, if any, due under the Plan upon the Participant’s death. A Participant may, from time to time, revoke or
change the Participant’s beneficiary designation without the consent of any prior beneficiary by filing a new designation with the Committee. The last such designation received by the Committee shall be controlling; provided, however,
that no designation, or change or revocation thereof, shall be effective unless received by the Committee prior to the Participant’s death, and in no event shall it be effective as of a date prior to such receipt. If no beneficiary designation
is filed by a Participant, the beneficiary shall be deemed to be the Participant’s spouse or, if the Participant is unmarried at the time of death, the Participant’s estate. 

(i) Termination. Except as otherwise provided in an Award Agreement, unless determined otherwise by the Committee at any point
following such event: (i) neither a temporary absence from employment or service due to illness, vacation, or leave of absence (including, without limitation, a call to active duty for military service through a Reserve or National Guard unit)
nor a transfer from employment or service with one Service Recipient to employment or service with another Service Recipient (or vice-versa) shall be considered a Termination; and (ii) if a Participant undergoes a Termination, but such
Participant continues to provide services to the Company Group in a non-employee capacity, such change in status shall not be considered a Termination for purposes of the Plan. Further, unless otherwise
determined by the Committee, in the event that any Service Recipient ceases to be a member of the 

  
 23 








 
Company Group (by reason of sale, divestiture, spin-off, or other similar transaction), unless a Participant’s employment or service is transferred to
another entity that would constitute a Service Recipient immediately following such transaction, such Participant shall be deemed to have suffered a Termination hereunder as of the date of the consummation of such transaction. 

(j) No Rights as a Shareholder. Except as otherwise specifically provided in the Plan or any Award Agreement, no Person shall be
entitled to the privileges of ownership in respect of Ordinary Shares which are subject to Awards hereunder until such shares have been issued or delivered to such Person. 

(k) Government and Other Regulations. 

(i) The obligation of the Company to settle Awards in Ordinary Shares or other consideration shall be subject to all
applicable laws, rules, and regulations, and to such approvals by governmental agencies as may be required. Notwithstanding any terms or conditions of any Award to the contrary, the Company shall be under no obligation to offer to sell or to sell,
and shall be prohibited from offering to sell or selling, any Ordinary Shares pursuant to an Award unless such shares have been properly registered for sale pursuant to the Securities Act with the Securities and Exchange Commission or unless the
Company has received an opinion of counsel (if the Company has requested such an opinion), satisfactory to the Company, that such shares may be offered or sold without such registration pursuant to an available exemption therefrom and the terms and
conditions of such exemption have been fully complied with. The Company shall be under no obligation to register for sale under the Securities Act any of the Ordinary Shares to be offered or sold under the Plan. The Committee shall have the
authority to provide that all Ordinary Shares or other securities of any member of the Company Group issued under the Plan shall be subject to such stop-transfer orders and other restrictions as the Committee
may deem advisable under the Plan, the applicable Award Agreement, the Federal securities laws, or the rules, regulations, and other requirements of the Securities and Exchange Commission and any securities exchange or inter-dealer quotation system
on which the securities of the Company are listed or quoted, and any other applicable Federal, state, local, or non-U.S. laws, rules, regulations, and other requirements, and, without limiting the generality
of Section 9 of the Plan, the Committee may cause a legend or legends to be put on certificates representing Ordinary Shares or other securities of any member of the Company Group issued under the Plan to make appropriate reference to such
restrictions or may cause such Ordinary Share or other securities of any member of the Company Group issued under the Plan in book-entry form to be held subject to the Company’s instructions or subject to appropriate stop-transfer orders.
Notwithstanding any provision in the Plan to the contrary, the Committee reserves the right to, at any time, add any additional terms or provisions to any Award granted under the Plan that the Committee, in its sole discretion, deems necessary or
advisable in order that such Award complies with the legal requirements of any governmental entity to whose jurisdiction the Award is subject. 

(ii) The Committee may cancel an Award or any portion thereof if it determines, in its sole discretion, that legal or
contractual restrictions and/or blockage and/or other market considerations would make the Company’s acquisition of Ordinary 

  
 24 








 
Shares from the public markets, the Company’s issuance of Ordinary Shares to the Participant, the Participant’s acquisition of Ordinary Shares from the Company, and/or the
Participant’s sale of Ordinary Shares to the public markets, illegal, impracticable, or inadvisable. If the Committee determines to cancel all or any portion of an Award in accordance with the foregoing, the Company shall, subject to any
limitations or reductions as may be necessary to comply with Section 409A of the Code, (A) pay to the Participant an amount equal to the excess of (I) the aggregate Fair Market Value of the Ordinary Shares subject to such Award or
portion thereof canceled (determined as of the applicable exercise date, or the date that the shares would have been vested or issued, as applicable), over (II) the aggregate Exercise Price or Strike Price (in the case of an Option or SAR,
respectively) or any amount payable as a condition of issuance of Ordinary Shares (in the case of any other Award). Such amount shall be delivered to the Participant as soon as practicable following the cancellation of such Award or portion thereof,
or (B) in the case of Restricted Stock, Restricted Stock Units, or Other Equity-Based Awards, provide the Participant with a cash payment or equity subject to deferred vesting and delivery consistent with the vesting restrictions applicable to
such Restricted Stock, Restricted Stock Units, or Other Equity-Based Awards, or the underlying shares in respect thereof. 
 (l) No
Section 83(b) Elections Without Consent of Company. No election under Section 83(b) of the Code or under a similar provision of law may be made unless expressly permitted by the terms of the applicable Award Agreement or
by action of the Company in writing prior to the making of such election. If a Participant, in connection with the acquisition of Ordinary Shares under the Plan or otherwise, is expressly permitted to make such election and the Participant makes the
election, the Participant shall notify the Company of such election within 10 days of filing notice of the election with the Internal Revenue Service or other governmental authority, in addition to any filing and notification required pursuant to
Section 83(b) of the Code or other applicable provision. 
 (m) Payments to Persons Other Than Participants. If the Committee
shall find that any Person to whom any amount is payable under the Plan is unable to care for the Participant’s affairs because of illness or accident, or is a minor, or has died, then any payment due to such Person or the Participant’s
estate (unless a prior claim therefor has been made by a duly appointed legal representative) may, if the Committee so directs the Company, be paid to the Participant’s spouse, child, relative, an institution maintaining or having custody of
such Person, or any other Person deemed by the Committee to be a proper recipient on behalf of such Person otherwise entitled to payment. Any such payment shall be a complete discharge of the liability of the Committee and the Company therefor. 

(n) Nonexclusivity of the Plan. Neither the adoption of the Plan by the Board nor the submission of the Plan to the shareholders
of the Company for approval shall be construed as creating any limitations on the power of the Board to adopt such other incentive arrangements as it may deem desirable, including, without limitation, the granting of equity-based awards otherwise
than under the Plan, and such arrangements may be either applicable generally or only in specific cases. 

  
 25 








 (o) No Trust or Fund Created. Neither the Plan nor any Award shall create or be
construed to create a trust or separate fund of any kind or a fiduciary relationship between any member of the Company Group, on the one hand, and a Participant or other Person, on the other hand. No provision of the Plan or any Award shall require
the Company, for the purpose of satisfying any obligations under the Plan, to purchase assets or place any assets in a trust or other entity to which contributions are made or otherwise to segregate any assets, nor shall the Company be obligated to
maintain separate bank accounts, books, records, or other evidence of the existence of a segregated or separately maintained or administered fund for such purposes. Participants shall have no rights under the Plan other than as unsecured general
creditors of the Company, except that insofar as they may have become entitled to payment of additional compensation by performance of services, they shall have the same rights as other service providers under general law. 

(p) Reliance on Reports. Each member of the Committee and each member of the Board shall be fully justified in acting or failing
to act, as the case may be, and shall not be liable for having so acted or failed to act in good faith, in reliance upon any report made by the independent public accountant of any member of the Company Group and/or any other information furnished
in connection with the Plan by any agent of the Company or the Committee or the Board, including any compensation consultant, other than himself or herself. 

(q) Relationship to Other Benefits. No payment under the Plan shall be taken into account in determining any benefits under any
pension, retirement, profit sharing, group insurance, or other benefit plan of the Company except as otherwise specifically provided in such other plan or as required by applicable law. 

(r) Governing Law. The Plan shall be governed by and construed in accordance with the internal laws of the State of Colorado
applicable to contracts made and performed wholly within the State of Colorado, without giving effect to the conflict of laws’ provisions thereof. EACH PARTICIPANT WHO ACCEPTS AN AWARD IRREVOCABLY WAIVES ALL RIGHT TO A TRIAL BY JURY IN ANY
SUIT, ACTION, OR OTHER PROCEEDING INSTITUTED BY OR AGAINST SUCH PARTICIPANT IN RESPECT OF THE PARTICIPANT’S RIGHTS OR OBLIGATIONS HEREUNDER. 

(s) Severability. If any provision of the Plan or any Award or Award Agreement is or becomes or is deemed to be invalid, illegal,
or unenforceable in any jurisdiction or as to any Person or Award, or would disqualify the Plan or any Award under any law deemed applicable by the Committee, such provision shall be construed or deemed amended to conform to the applicable laws, or
if it cannot be construed or deemed amended without, in the determination of the Committee, materially altering the intent of the Plan or the Award, such provision shall be construed or deemed stricken as to such jurisdiction, Person, or Award and
the remainder of the Plan and any such Award shall remain in full force and effect. 
 (t) Obligations Binding on Successors.
The obligations of the Company under the Plan shall be binding upon any successor corporation or organization resulting from the merger, consolidation, or other reorganization of the Company, or upon any successor corporation or organization
succeeding to substantially all of the assets and business of the Company. 

  
 26 








 (u) Section 409A of the Code. 

(i) Notwithstanding any provision of the Plan to the contrary, it is intended that the provisions of the Plan comply with
Section 409A of the Code, and all provisions of the Plan shall be construed and interpreted in a manner consistent with the requirements for avoiding taxes or penalties under Section 409A of the Code. Each Participant is solely responsible
and liable for the satisfaction of all taxes and penalties that may be imposed on or in respect of such Participant in connection with the Plan (including any taxes and penalties under Section 409A of the Code), and neither the Service
Recipient nor any other member of the Company Group shall have any obligation to indemnify or otherwise hold such Participant (or any beneficiary) harmless from any or all of such taxes or penalties. With respect to any Award that is considered
“deferred compensation” subject to Section 409A of the Code, references in the Plan to “termination of employment” (and substantially similar phrases) shall mean “separation from service” within the meaning of
Section 409A of the Code. For purposes of Section 409A of the Code, each of the payments that may be made in respect of any Award granted under the Plan is designated as a separate payment. 

(ii) Notwithstanding anything in the Plan to the contrary, if a Participant is a “specified employee” within the
meaning of Section 409A(a)(2)(B)(i) of the Code, no payments in respect of any Awards that are “deferred compensation” subject to Section 409A of the Code and which would otherwise be payable upon the Participant’s
“separation from service” (as defined in Section 409A of the Code) shall be made to such Participant prior to the date that is six months after the date of such Participant’s “separation from service” or, if earlier,
the date of the Participant’s death. Following any applicable six-month delay, all such delayed payments will be paid in a single lump sum on the earliest date permitted under Section 409A of the
Code that is also a business day. 
 (iii) Unless otherwise provided by the Committee in an Award Agreement or
otherwise, in the event that the timing of payments in respect of any Award (that would otherwise be considered “deferred compensation” subject to Section 409A of the Code) would be accelerated upon the occurrence of (A) a Change
in Control, no such acceleration shall be permitted unless the event giving rise to the Change in Control satisfies the definition of a change in the ownership or effective control of a corporation, or a change in the ownership of a substantial
portion of the assets of a corporation pursuant to Section 409A of the Code or (B) a Disability, no such acceleration shall be permitted unless the Disability also satisfies the definition of “Disability” pursuant to
Section 409A of the Code. 
 (v) Clawback/Repayment. All Awards shall be subject to reduction, cancellation, forfeiture, or
recoupment to the extent necessary to comply with (A) any clawback, forfeiture, or other similar policy adopted by the Board or the Committee and as in effect from time to time, and (B) applicable law. Further, to the extent that the
Participant receives any amount in excess of the amount that the Participant should otherwise have received under the terms of the Award for any reason (including, without limitation, by reason of a financial restatement, mistake in calculations, or
other administrative error), the Participant shall be required to repay any such excess amount to the Company. 

  
 27 








 (w) Detrimental Activity. Notwithstanding anything to the contrary contained herein,
if a Participant has engaged in any Detrimental Activity, as determined by the Committee, the Committee may, in its sole discretion, provide for one or more of the following: 

(i) cancellation of any or all of such Participant’s outstanding Awards; or 

(ii) forfeiture by the Participant of any gain realized on the vesting or exercise of Awards, and repayment of any such
gain promptly to the Company. 
 (x) Right of Offset. The Company will have the right to offset against its obligation to
deliver Ordinary Shares (or other property or cash) under the Plan or any Award Agreement any outstanding amounts (including, without limitation, travel and entertainment or advance account balances, loans, repayment obligations under any Awards, or
amounts repayable to the Company pursuant to tax equalization, housing, automobile, or other employee programs) that the Participant then owes to any member of the Company Group and any amounts the Committee otherwise deems appropriate pursuant to
any tax equalization policy or agreement. Notwithstanding the foregoing, if an Award is “deferred compensation” subject to Section 409A of the Code, the Committee will have no right to offset against its obligation to deliver Ordinary
Shares (or other property or cash) under the Plan or any Award Agreement if such offset could subject the Participant to the additional tax imposed under Section 409A of the Code in respect of an outstanding Award. 

(y) Expenses; Titles and Headings. The expenses of administering the Plan shall be borne by the Company Group. The titles and
headings of the sections in the Plan are for convenience of reference only, and in the event of any conflict, the text of the Plan, rather than such titles or headings, shall control. 

  
 28 








 United Kingdom Employee Sub-Plan (the “UK Sub-Plan”) to the Gates Industrial Corporation Plc 2018 Omnibus Incentive Plan (the “Plan”) established in accordance with Section 13(g) of the Plan 

The purpose of the UK Sub-Plan is to provide for alterations and amendments to the Plan in respect of its operation in
the United Kingdom so as to facilitate the grant of Awards thereunder to Eligible Persons in the United Kingdom. 
 Words and expressions defined in the
Plan shall have the same meaning when used in the UK Sub-Plan, unless otherwise stated herein. The provisions of the Plan shall apply to the provisions of the UK
Sub-Plan except where expressly varied herein. References to Sections in the UK Sub-Plan are references to Sections of the Plan. In the event of any discrepancy between
the provisions of the Plan and the provisions of the UK Sub-Plan, the provisions of the UK Sub-Plan shall take precedence. 

Awards may be granted in accordance with such provisions as would be applicable if the provisions of the Plan were here set out in full, subject to the
following modifications: 
  

	1.	Section 1 – Purpose 

 Section 1 shall be amended by the removal of the words shown
underlined below and the addition of the words in italics: 
 Purpose. The purpose of the Gates Industrial Corporation plc 2018 Omnibus
Incentive Plan is to provide a means through which the Company and the other members of the Company Group may attract and retain key personnel and to provide a means whereby bona fide employees (including directors, and
officers), and employees, consultants and advisors of the Company and the other members of the Company Group can acquire and maintain an equity interest in the Company, or be paid incentive compensation, including incentive
compensation measured by reference to the value of Ordinary Shares, thereby strengthening their commitment to the welfare of the Company Group and aligning their interests with those of the Company’s shareholders. 

 

	2.	Section 2 – Definitions 

 Section 2(g) shall be amended by the removal of the words shown
underlined below: 
 “Cause” means, as to any Participant, unless the applicable Award Agreement states otherwise, (i) “Cause,” as
defined in any employment or consulting agreement between the Participant and the Service Recipient or as defined in the Company’s Executive Severance Plan to the extent the Participant participates in such plan, in each case, in effect
at the time of such Termination; or (ii) in the absence of any such employment or consulting agreement (or the absence of any definition of “Cause” contained therein), the Participant’s (A) willful neglect in the
performance of the Participant’s duties for the Service Recipient or willful or repeated failure or refusal to perform such duties; (B) engagement in conduct in connection with the Participant’s employment or service with the Service
Recipient, which results in, or could reasonably be expected to result in, material harm to the business or reputation of the Service Recipient or any 

  
 29 








 
other member of the Company Group; (C) conviction of, or plea of guilty or no contest to, (I) any felony or (II) any other crime that results in, or could reasonably be expected to
result in, material harm to the business or reputation of the Service Recipient or any other member of the Company Group; (D) material violation of the written policies of the Service Recipient, including, but not limited to, those
relating to sexual harassment or the disclosure or misuse of confidential information, or those set forth in the manuals or statements of policy of the Service Recipient; (E) fraud or misappropriation, embezzlement, or misuse of funds or
property belonging to the Service Recipient or any other member of the Company Group; or (F) act of personal dishonesty that involves personal profit in connection with the Participant’s employment or service to the Service Recipient;
provided, in any case, a Participant’s resignation after an event that would be grounds for a Termination for Cause will be treated as a Termination for Cause hereunder. 

Section 2(p) shall be amended by the removal of the words shown underlined below: 

“Disability” means, as to any Participant, unless the applicable Award Agreement states otherwise, (i) “Disability,” as defined in
any employment or consulting agreement between the Participant and the Service Recipient in effect at the time of such Termination; or (ii) in the absence of any such employment or consulting agreement (or the absence of
any definition of “Disability” contained therein), a condition entitling the Participant to receive benefits under a long-term disability plan of the Service Recipient or other member of the Company Group in which such Participant is
eligible to participate, or, in the absence of such a plan, the complete and permanent inability of the Participant by reason of illness or accident to perform the duties of the position at which the Participant was employed or served when such
disability commenced. Any determination of whether Disability exists in the absence of a long-term disability plan shall be made by the Company (or its designee) in its sole and absolute discretion. 

Section 2(r) shall be amended by the removal of the words shown underlined and the addition of the words shown in italics below: 

“Eligible Person” means any (i) individual who is a bona fide employee employed by any member of the Company Group; provided,
however, that no such employee covered by a collective bargaining agreement shall be an Eligible Person unless and to the extent that such eligibility is set forth in such collective bargaining agreement or in an agreement or instrument
relating thereto; (ii) director or officer of any member of the Company Group who is a bona fide employee; or (iii) consultant or advisor to any member of the Company Group who may be offered securities registrable
pursuant to a registration statement on Form S-8 under the Securities Act, who, in the case of each of clauses (i) through (iii) and (ii) above, has entered into an Award Agreement
or who has received written notification from the Committee or its designee that they have been selected to participate in the Plan. 
 Section 2(vv)
shall be amended by the addition of the words shown in italics below: 
 “Subsidiary” means, with respect to any specified Person: 

(i) any corporation, association, or other business entity of which more than 50% of the total voting power of shares of such entity’s voting securities
(without regard to the occurrence of any 

  
 30 








 
contingency and after giving effect to any voting agreement or shareholders’ agreement that effectively transfers voting power) is at the time owned or controlled, directly or indirectly, by
that Person or one or more of the other Subsidiaries of that Person (or a combination thereof); and 
 (ii) any partnership (or any comparable foreign
entity) (A) the sole general partner (or functional equivalent thereof) or the managing general partner of which is such Person or Subsidiary of such Person or (B) the only general partners (or functional equivalents thereof) of which are
that Person or one or more Subsidiaries of that Person (or any combination thereof), 
 provided always that such corporation, association, other
business entity or partnership would fall within the definition of a subsidiary under Section 1159 of the Companies Act 2006. 
  

	3.	Section 13 – General 

 Section 13(b)(ii) shall be amended by the removal of the words
shown underlined and the addition of the words shown in italics below: 
 Notwithstanding the foregoing, the Committee may, in its sole discretion, permit
Awards (other than Incentive Stock Options) to be transferred by a Participant, without consideration, subject to such rules as the Committee may adopt consistent with any applicable Award Agreement to preserve the purposes of the Plan, to:
(A) any person who is a “family member” of the Participant being the spouses, civil partners, surviving spouses, surviving civil partners, or minor children or step-children of the Participant (collectively, the
“Immediate Family Members”); (B) a trust solely for the benefit of the Participant and the Participant’s Immediate Family Members; (C) a partnership or limited liability company whose only partners or
shareholders are the Participant and the Participant’s Immediate Family Members; or (D) a beneficiary to whom donations are eligible to be treated as “charitable contributions” for federal income tax purposes (each
transferee described in clauses (A), (B), (C), and (D) above is hereinafter referred to as a “Permitted Transferee”); provided, that the Participant gives the Committee advance written notice describing
the terms and conditions of the proposed transfer and the Committee notifies the Participant in writing that such a transfer would comply with the requirements of the Plan. 

The words shown in italics below shall be inserted as a new Section 13(d)(iv): 

In the event that at any relevant time a Participant is resident for tax purposes in the United Kingdom and any of the Ordinary Shares to be acquired by,
delivered, issued or awarded to such Participant pursuant to an Award fall within the meaning of ‘restricted securities’ for the purposes of Chapter 2 of Part 7 of the United Kingdom Income Tax (Earnings & Pensions) Act 2003
(“ITEPA”), it shall be a condition of such acquisition, delivery, issue or award that the Participant shall, unless the Committee directs otherwise, and no later than 14 days after the acquisition, delivery, issue or
award of such Ordinary Shares (or such longer period as Her Majesty’s Revenue & Customs in the United Kingdom (“HMRC”) may direct), enter into a joint election with the Company (or the Participant’s
employer company, if different) under section 431(1) of ITEPA (in the form prescribed or agreed by HMRC in order to: (a) disapply all restrictions attaching to such Ordinary Share; and (b) elect to pay income tax (if any) computed by
reference to the ‘unrestricted market value’ of the Ordinary Share (as defined in ITEPA). 

  
 31 








 The words shown in italics below shall be inserted as a new Section 13(f): 

FATCA. Each Award shall include a requirement that the Participant irrevocably (i) agrees to give all such assistance and
representations and supply or procure to be supplied (including by way of updates) all such information and execute and deliver (or procure the execution and delivery of) all such documents that the Company or any member of the Company Group
requests in writing for the purpose of enabling any of the Company or any member of the Company Group to comply with the Foreign Account Tax Compliance Act (“FATCA”), any exchange of information agreement
(“IGA”) or any similar, equivalent or related applicable laws, rules or regulations in any jurisdiction and (ii) authorizes any of the Company or any member of the Company Group to disclose such information to any
governmental authorities (including, but not limited to, HMRC in the United Kingdom and the Internal Revenue Service in the USA) if it is required to be disclosed pursuant to FATCA, any IGA or any similar, equivalent or related applicable laws,
rules or regulations. 
 Section 13(f) shall be renumbered as Section 13(g). 

The words shown in italics below shall be inserted as a new section 13(h): 

Without limiting the generality of Section 13(g), any Participant who leaves the employment or service of a Service Recipient or who
otherwise ceases to be a Participant shall not be entitled to any compensation for any loss of any right or benefit or prospective right or benefit under the Plan which he might otherwise have enjoyed whether such compensation is claimed by way of
damages for wrongful dismissal or other breach of contract or by way of compensation for loss of office or otherwise howsoever. This exclusion applies equally (and without limitation) to any loss arising from the way in which discretion is (or is
not) exercised under the Plan. 
 Section 13(g) shall be renumbered as Section 13(i). 

Section 13(h) shall be renumbered as Section 13(j). 

Section 13(i) shall be renumbered as Section 13(k). 

Section 13(j) shall be renumbered as Section 13(l). 

Section 13(k) shall be renumbered as Section 13(m). 

Section 13(l) shall be renumbered as Section 13(n). 

Section 13(m) shall be renumbered as Section 13(o). 

Section 13(n) shall be renumbered as Section 13(p). 

Section 13(o) shall be renumbered as Section 13(q). 

Section 13(p) shall be renumbered as Section 13(r). 

Section 13(q) shall be renumbered as Section 13(s). 

  
 32 








 Section 13(r) shall be renumbered as Section 13(t). 

Section 13(s) shall be renumbered as Section 13(u). 

Section 13(t) shall be renumbered as Section 13(v). 

Section 13(u) shall be renumbered as Section 13(w). 

Section 13(v) shall be renumbered as Section 13(x). 

Section 13(w) shall be renumbered as Section 13(y). 

Section 13(x) shall be renumbered as Section 13(z). 

Section 13(y) shall be renumbered as Section 13(aa). 

The words shown in italics below shall be inserted as a new Section 13(bb): 

Rights of Third Parties. It is not intended that any of the terms of this Plan should be enforceable by any third party pursuant to the UK Contract (Rights
of Third Parties) Act 1999. 

  
 33