EX-10.3




 EXHIBIT 10.3 

QUIDELORTHO CORPORATION 

Amended and Restated 2018 Equity Incentive Plan 

(Amended and Restated Effective: May 16, 2022) 

ARTICLE I 

ESTABLISHMENT; PURPOSE OF PLAN 

QuidelOrtho Corporation, a Delaware corporation (the “Company”), hereby establishes the QuidelOrtho Corporation 2018 Equity
Incentive Plan (the “Plan”). Upon its original approval by stockholders on May 15, 2018, the Plan superseded and replaced the Quidel Corporation 2016 Equity Incentive Plan (the “2016 Plan”) and all Prior Plans. No future
awards may be made pursuant to the 2016 Plan and any other Prior Plan; provided, that, the 2016 Plan and all other Prior Plans shall remain in effect until all awards granted under the 2016 Plan and the Prior Plans have been exercised, forfeited, or
cancelled or have otherwise expired or terminated. 
 The Plan is intended to promote the interests of the Company and its stockholders by
using investment interests in the Company to attract, retain and motivate its management and other persons, to encourage and reward their contributions to the performance of the Company, and to align their interests with the interests of the
Company’s stockholders. Capitalized terms not otherwise defined herein have the meanings ascribed to them in Article IX. 

ARTICLE II H 
 EFFECTIVE
DATE AND TERM OF PLAN 
 2.1    Term of Plan. This Plan became effective on the Effective Date and will continue in
effect until the earlier of: (a) the Expiration Date; or (b) the date of any Plan termination pursuant to the provisions of Section 4.4 or Section 8.1. This amendment and restatement of the
Plan will become effective upon approval by the Company’s stockholders. 
 2.2    Effect on Awards. Awards may be
granted only during the Plan Term, but each Award properly granted during the Plan Term will remain in effect after the Expiration Date until such Award has been exercised, terminated or expired in accordance with its terms and the terms of this
Plan. 
 ARTICLE III 

SHARES SUBJECT TO PLAN 

3.1    Number of Shares. The maximum number of shares of Common Stock that may be issued pursuant to Awards under this Plan
is 3,150,000, plus (a) any shares of Common Stock that were authorized for issuance under the Prior Plans that, as of the Effective Date, remain available for issuance under the Prior Plans (not including any shares that are subject to, as of
the Effective Date, outstanding awards under the Prior Plans or any shares that prior to the Effective Date were issued pursuant to awards granted under the Prior Plans) and (b) any shares of Common Stock subject to outstanding awards under the
Prior Plans as of the Effective Date (the “Prior Plan Awards”) that on or after such date cease for any reason to be subject to such awards (other than by reason of exercise or settlement of the awards to the extent they are exercised for
or settled in vested and nonforfeitable shares). The aggregate number of shares of Common Stock available for grant under this Plan and the number of shares subject to outstanding Awards shall be subject to adjustment as set forth
in Section 3.4. 
 3.2    Source of Shares. The Common Stock to be issued under this Plan
will be made available, at the discretion of the Administrator, either from authorized but unissued shares of Common Stock or from previously issued shares of Common Stock reacquired by the Company, including without limitation shares purchased on
the open market. 
 3.3    Share Counting. The following rules shall apply solely for purposes of determining the number
of shares of Common Stock available for grant at any given time: 
 (a)    Fungible Design. Any shares of Common
Stock issued pursuant to Stock Options or SARs under this Plan shall be counted against the limit set forth in Section 3.1 on a one-for-one basis and
any shares of Common 











 
Stock issued pursuant to Awards under this Plan other than Stock Options or SARs shall be counted against the limit set forth in Section 3.1 as 1.5 shares for every one share of
Common Stock issued pursuant to such Award Any shares of Common Stock that again become available for issuance pursuant to this Section 3.3 shall be added back as one share if such shares were subject to Stock Options or SARs (or
subject to stock options or stock appreciation rights granted under the Prior Plans), and as 1.5 shares if such shares were subject to Awards other than Stock Options or SARs (or subject to awards other than stock options or stock appreciation
rights granted under the Prior Plans). 
 (b)    Terminated Awards. In the event any Award granted under the Plan
(or any Prior Plan Award), is terminated, expired, forfeited, or cancelled for any reason, the number of shares of Common Stock subject to such Award (or Prior Plan Award) will again be available for grant under the Plan (i.e., any prior charge
against the limit set forth in Section 3.1 shall be reversed). 
 (c)    Cash Settled Awards. If
shares of Common Stock are not delivered in connection with an Award (or Prior Plan Award) because the Award (or Prior Plan Award) may only be settled in cash rather than in Common Stock, no shares of Common Stock shall be counted against the limit
set forth in Section 3.1. If any Award (or Prior Plan Award) may be settled in cash or Common Stock, the rules set forth in Section 3.3(a) shall apply until the Award (or Prior Plan Award) is settled, at which time the
underlying shares of Common Stock will be added back to the shares available for grant pursuant to Section 3.1 but only if the Award (or Prior Plan Award) is settled in cash. 

(d)    No Liberal Share Counting for Options or SARs. The exercise of a Common Stock-settled SAR or broker-assisted
“cashless” exercise of a Stock Option (or a portion thereof) will reduce the number of shares available for grant under Section 3.1 by the entire number of shares of Common Stock subject to that SAR or
Stock Option (or applicable portion thereof). Shares of Common Stock tendered to pay the exercise price of a Stock Option or SAR or tendered, withheld or otherwise relinquished by a Recipient to satisfy a tax withholding obligation arising in
connection with a Stock Option or SAR Award (or Prior Plan option or stock appreciation rights awards) will not again become Common Stock available for grant under the Plan. Moreover, shares of Common Stock purchased on the open market with cash
proceeds generated by the exercise of a Stock Option will not increase or replenish the number of shares available for grant under Section 3.1. 

If the provisions of this Section 3.3 are inconsistent with the requirements of any regulations issued pursuant to
Section 422 of the IRC, the provisions of such regulations shall control over the provisions of this Section 3.3, but only as this Section 3.3 relates to Incentive Stock Options. The Administrator may adopt such
other reasonable rules and procedures as it deems to be appropriate for determining the number of shares of Stock that are available for grant under Section 3.1. 

3.4    Adjustment Provisions. 

(a)    Adjustments. If the Company consummates any Reorganization in which holders of shares of Common Stock are
entitled to receive in respect of such shares any additional shares or new or different shares or securities, cash or other consideration (including, without limitation, a different number of shares of Common Stock), or if the outstanding shares of
Common Stock are increased, decreased, changed or exchanged for a different number or kind of shares or other securities through merger, consolidation, sale or exchange of assets of the Company, reorganization, recapitalization, reclassification,
combination, stock dividend, extraordinary cash dividend, stock split, reverse stock split, spin-off, or similar transaction then, subject to Section 8.1, an appropriate and
proportionate adjustment shall be made by the Administrator in: (i) the maximum number and kind of shares subject to this Plan as provided in Section 3.1; (ii) the number and kind of shares or other
securities subject to then outstanding Awards; (iii) the price for each share or other unit of any other securities subject to, or measurement criteria applicable to, then outstanding Awards; and (iv) the number and kind of shares or other
securities to be issued as Non-Employee Director Options. 
 (b)    No
Fractional Interests. No fractional interests will be issued under the Plan resulting from any adjustments. 

(c)    Adjustments Related to Company Stock. To the extent any adjustments relate to stock or securities of the
Company, such adjustments will be made by the Administrator, whose determination in that respect will be final, binding and conclusive. 

  
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 (d)    Right to Make Adjustment. The grant of an Award will not
affect in any way the right or power of the Company to make adjustments, reclassifications, reorganizations or changes of its capital or business structure or to merge or to consolidate or to dissolve, liquidate or sell, or transfer all or any part
of its business or assets. 
 (e)    Limitations. No adjustment to the terms of an Incentive Stock Option may be
made unless such adjustment either: (i) would not cause the Stock Option to lose its status as an Incentive Stock Option; or (ii) is agreed to in writing by the Administrator and the Recipient. Any action taken pursuant to
this Section 3.4 shall be taken in a manner consistent with the requirements of Section 409A of the IRC. 

3.5    Reservation of Shares. The Company will at all times reserve and keep available shares of Common Stock
equaling at least the total number of shares of Common Stock issuable pursuant to all outstanding Awards. 
 ARTICLE IV 

ADMINISTRATION OF PLAN 

4.1    Administrator 

(a)    Plan Administration. Subject to the provisions of Section 4.1(b), this Plan
will be administered by the Board and may also be administered by a Committee of the Board appointed pursuant to Section 4.1(b). 

(b)    Administration by Administrator. The Board in its sole discretion may from time to time appoint a Committee
of not less than two (2) Board members with authority to administer this Plan in whole or part and, subject to applicable law, to exercise any or all of the powers, authority and discretion of the Board under this Plan. Unless otherwise
determined by the Board, the Committee shall consist of no less than two (2) directors, each of whom qualify as: (i) a Non-Employee Director; and (ii) an “independent director” for
purposes of the NASDAQ Stock Market Listing Rules (or the rules of any exchange on which the Common Stock is then listed). The Board may from time to time increase or decrease (but not below two (2)) the number of members of the Committee, remove
from membership on the Committee all or any portion of its members, and/or appoint such person or persons as it desires to fill any vacancy existing on the Committee, whether caused by removal, resignation or otherwise. Unless otherwise required by
this Section 4.1(b), the Board may disband the Committee at any time and, in such case, the Board will be responsible for the administration of the Plan. 

4.2    Authority of Administrator. 

(a)    Authority to Interpret Plan. Subject to the express provisions of this Plan, the Administrator will have the
power to implement, interpret and construe this Plan and any Awards and Award Documents or other documents defining the rights and obligations of the Company and Recipients hereunder and thereunder, to determine all questions arising hereunder and
thereunder, and to adopt and amend such rules and regulations for the administration hereof and thereof as it may deem desirable. The interpretation and construction by the Administrator of any provisions of this Plan or of any Award or Award
Document, and any action taken by, or inaction of, the Administrator relating to this Plan or any Award or Award Document, will be within the discretion of the Administrator and will be conclusive and binding upon all persons. Subject only to
compliance with the express provisions hereof, the Administrator may act in its discretion in matters related to this Plan and any and all Awards and Award Documents. 

(b)    Authority to Grant Awards. Subject to the express provisions of this Plan, the Administrator may from time
to time in its discretion select the Eligible Persons to whom, and the time or times at which, Awards will be granted or sold, the nature of each Award, the number of shares of Common Stock or the number of rights that make up or underlie each
Award, the exercise price and period (if applicable) for the exercise of each Award, and such other terms and conditions applicable to each individual Award as the Administrator may determine. Any and all terms and conditions of Awards may be
established by the Administrator without regard to existing Awards or other grants and without incurring any obligation of the Company in respect of subsequent Awards. The Administrator may grant at any time new Awards to an Eligible Person who has
previously received Awards or other grants (including other stock options) regardless of the status of such other Awards or grants. The Administrator may grant Awards singly or in combination or in tandem with other Awards as it determines in its
discretion. 

  
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 (c)    Procedures. Subject to the Company’s charters
(including its Compensation Administrator Charter) or bylaws or any Board resolution conferring authority on the Committee, any action of the Administrator with respect to the administration of this Plan must be taken pursuant to a majority vote of
the authorized number of members of the Administrator or by the unanimous written consent of its members; provided, however, that: (i) if the Administrator is the Committee and consists of two (2) members, then actions of the
Administrator must be unanimous; and (ii) actions taken by the Board will be valid if approved in accordance with applicable law. 

4.3    No Liability. No member of the Board or the Committee or any designee thereof will be liable for any action or
inaction with respect to this Plan or any Award or any transaction arising under this Plan or any Award except in circumstances constituting bad faith of such member. 

4.4    Amendments. 

(a)    Plan Amendments. The Administrator may at any time and from time to time in its discretion, insofar as
permitted by applicable law, rule or regulation and subject to Section 4.4(c), suspend or discontinue this Plan or revise or amend it in any respect whatsoever, and this Plan as so revised or amended will govern all
Awards, including those granted before such revision or amendment. Without limiting the generality of the foregoing, the Administrator is authorized to amend this Plan to comply with or take advantage of amendments to applicable laws, rules or
regulations, including the Securities Act, the Exchange Act, the IRC, or the rules of any exchange or market system upon which the Common Stock is listed or trades, or any rules or regulations promulgated thereunder. No stockholder approval of any
amendment or revision will be required unless such approval is required by applicable law, rule or regulation. 

(b)    Award Amendments; No Repricing. The Administrator may at any time and from time to time in its discretion,
but subject to Section 4.4(c) and compliance with applicable statutory or administrative requirements, accelerate or extend the vesting or exercise period of any Award as a whole or in part, and make such
other modifications in the terms and conditions of an Award as it deems advisable, provided, however, that the Administrator, other than in connection with an adjustment under Section 3.4, may reduce the exercise or base
price of a Stock Option or SAR (either by cancellation of such Stock Option or SAR in exchange for cash, other Awards, or a new Stock Option or SAR at such reduced exercise or base price or by amending the terms of the Stock Option or SAR to reflect
such a reduced exercise or base price) only with stockholder approval. 
 (c)    Limitation. Except as otherwise
provided in this Plan or in the applicable Award Document, no amendment, revision, suspension or termination of this Plan or an outstanding Award that would cause an Incentive Stock Option to cease to qualify as such or that would alter, impair or
diminish in any material respect any rights or obligations under any Award theretofore granted under this Plan may be effected without the written consent of the Recipient to whom such Award was granted. 

4.5    Other Compensation Plans. The adoption of this Plan will not affect any other stock option, incentive or other
compensation plans in effect from time to time for the Company, and this Plan will not preclude the Company from establishing any other forms of incentive or other compensation for employees, directors, advisors or consultants of the Company,
whether or not approved by stockholders. This Plan does not affect in any way any outstanding award grants made under such plans and awards granted under such plans will continue to be governed by the terms and conditions of such plans. 

4.6    Plan Binding on Successors. This Plan will be binding upon the successors and assigns of the Company. 

4.7    References to Successor Statutes, Regulations and Rules. Any reference in this Plan to a particular statute,
regulation or rule will also refer to any successor provision of such statute, regulation or rule. 
 4.8    Invalid
Provisions. In the event that any provision of this Plan is found to be invalid or otherwise unenforceable under any applicable law, such invalidity or unenforceability is not to be construed as rendering any other provisions contained herein
invalid or unenforceable, and all such other provisions are to be given full force and effect to the same extent as though the invalid and unenforceable provision were not contained herein. 

  
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 4.9    Governing Law. This Plan will be governed by and interpreted in
accordance with the internal laws of the State of Delaware, without giving effect to the principles of the conflicts of laws thereof. 

4.10    Interpretation. Headings herein are for convenience of reference only, do not constitute a part of this Plan, and
will not affect the meaning or interpretation of this Plan. References herein to Sections or Articles are references to the referenced Section or Article hereof, unless otherwise specified. 

ARTICLE V 
 GENERAL AWARD
PROVISIONS 
 5.1    Participation in Plan. 

(a)    Eligibility to Receive Awards. A person is eligible to receive grants of Awards if, at the time of the grant
of the Award, such person is an Eligible Person or has received an offer of employment from the Company; provided, however, that only Non-Employee Directors are eligible to receive Non-Employee Director Options, and provided further, that Awards granted to a person who has received an offer of employment will terminate and be forfeited without consideration if the employment offer
is not accepted within such time as may be specified by the Company. Status as an Eligible Person will not be construed as a commitment that any Award will be granted under this Plan to an Eligible Person or to Eligible Persons generally. 

(b)    Eligibility to Receive Incentive Stock Options. Incentive Stock Options may be granted only to Eligible
Persons meeting the employment requirements of Section 422 of the IRC. 
 (c)    Awards to Foreign
Nationals. Notwithstanding anything to the contrary herein, the Administrator may, in order to fulfill the purposes of this Plan, modify grants of Awards to Recipients who are foreign nationals or employed outside of the United States to
recognize differences in applicable law, tax policy or local custom. 
 5.2    Award Documents. Each Award must be
evidenced by an Award Document setting forth such terms and conditions applicable to the Award as the Administrator may in its discretion determine. Awards will not be deemed made or binding upon the Company, and Recipients will have no rights
thereto, until an Award Document agreement is entered into between the Company and the Recipient or delivered by the Company to the Recipient, but an Award may have an effective date prior to the date of such an Award Document, to the extent
consistent with applicable law. Award Documents may be (but need not be) identical and must comply with and be subject to the terms and conditions of this Plan, a copy of which will be provided to each Recipient and incorporated by reference into
each Award Document. Any Award Document may contain such other terms, provisions and conditions not inconsistent with this Plan as may be determined by the Administrator. In case of any conflict between this Plan and any Award Document, this Plan
shall control. 
 5.3    Payment For Awards. 

(a)    Payment of Exercise Price. The exercise price or other payment for an Award is payable upon the exercise of a
Stock Option or upon other purchase of shares pursuant to an Award granted hereunder by delivery of cash or certified check or payment of such other consideration as the Administrator may from time to time deem acceptable in any particular instance;
provided, however, that the Administrator may, in the exercise of its discretion, allow exercise of an Award in a broker-assisted or similar transaction in which the exercise price is not received by the Company until promptly after exercise.

 (b)    Cashless Exercise. If permitted in any case by the Administrator in its discretion, the exercise price
for Awards may be paid by capital stock of the Company delivered in transfer to the Company by or on behalf of the person exercising the Award and duly endorsed in blank or accompanied by stock powers duly endorsed in blank, with signatures
guaranteed in accordance with the Exchange Act if required by the Administrator; or retained by the Company from the stock otherwise issuable upon exercise or surrender of vested and/or exercisable Awards or other equity awards previously granted to
the Recipient and being exercised (if applicable) (in either case valued at Fair Market Value as of the exercise date); or such other consideration as the Administrator may from time to time in the exercise of its discretion deem acceptable in any
particular instance. 

  
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 (c)    No Precedent. Recipients will have no rights to the
exercise techniques described in Section 5.3(b), and the Company may offer or permit such techniques on an ad hoc basis to any Recipient without incurring any obligation to offer or permit such
techniques on other occasions or to other Recipients. 
 5.4    No Employment Rights. Nothing contained in this Plan (or
in Award Documents or in any other documents related to this Plan or to Awards) will confer upon any Eligible Person or Recipient any right to continue in the employ of or engagement by the Company or any Affiliated Entity or constitute any contract
or agreement of employment or engagement, or interfere in any way with the right of the Company or any Affiliated Entity to reduce such person’s compensation or other benefits or to terminate the employment or engagement of such Eligible Person
or Recipient, with or without cause. Except as expressly provided in this Plan or in any statement evidencing the grant of an Award, the Company has the right to deal with each Recipient in the same manner as if this Plan and any such statement
evidencing the grant of an Award did not exist, including, without limitation, with respect to all matters related to the hiring, discharge, compensation and conditions of the employment or engagement of the Recipient. Unless otherwise set forth in
a written agreement binding upon the Company or an Affiliated Entity, all employees of the Company or an Affiliated Entity are “at will” employees whose employment may be terminated by the Company or the Affiliated Entity at any time for
any reason or no reason, without payment or penalty of any kind. Any question(s) as to whether and when there has been a termination of a Recipient’s employment or engagement, the reason (if any) for such termination, and/or the
consequences thereof under the terms of this Plan or any statement evidencing the grant of an Award pursuant to this Plan will be determined by the Administrator and the Administrator’s determination thereof will be final and binding. 

5.5    Restrictions Under Applicable Laws and Regulations. 

(a)    Government Approvals. All Awards will be subject to the requirement that, if at any time the Company
determines, in its discretion, that the listing, registration or qualification of the securities subject to Awards granted under this Plan upon any securities exchange or interdealer quotation system or under any federal, state or foreign law, or
the consent or approval of any government or regulatory body, is necessary or desirable as a condition of, or in connection with, the granting of such an Award or the issuance, if any, or purchase of shares in connection therewith, such Award may
not be exercised as a whole or in part unless and until such listing, registration, qualification, consent or approval has been effected or obtained free of any conditions not acceptable to the Company. During the Plan Term, the Company will use its
reasonable efforts to seek to obtain from the appropriate governmental and regulatory agencies any requisite qualifications, consents, approvals or authorizations in order to issue and sell such number of shares of its Common Stock as is sufficient
to satisfy the requirements of this Plan. The inability of the Company to obtain any such qualifications, consents, approvals or authorizations after such reasonable efforts will relieve the Company of any liability in respect of the nonissuance or
sale of such stock as to which such qualifications, consents, approvals or authorizations pertain. 
 (b)    No
Registration Obligation; Recipient Representations. The Company will be under no obligation to register or qualify the issuance of Awards or underlying securities under the Securities Act or applicable state securities laws. Unless the issuance
of Awards and underlying securities have been registered under the Securities Act and qualified or registered under applicable state securities laws, the Company shall be under no obligation to issue any Awards or underlying securities unless the
Awards and underlying securities may be issued pursuant to applicable exemptions from such registration or qualification requirements. In connection with any such exempt issuance, the Administrator may require the Recipient to provide a written
representation and undertaking to the Company, satisfactory in form and scope to the Company, that such Recipient is acquiring such Awards and underlying securities for such Recipient’s own account as an investment and not with a view to, or
for sale in connection with, the distribution of any such securities, and that such person will make no transfer of the same except in compliance with any rules and regulations in force at the time of such transfer under the Securities Act and other
applicable law, and that if securities are issued without registration, a legend to this effect (together with any other legends deemed appropriate by the Administrator) may be endorsed upon the securities so issued, and to the effect of any
additional representations that are appropriate in light of applicable securities laws and rules. The Company may also order its transfer agent to stop transfers of such shares. The Administrator may also require the Recipient to provide the Company
such information and other documents as the Administrator may request in order to satisfy the Administrator as to the investment sophistication and experience of the Recipient and as to any other conditions for compliance with any such exemptions
from registration or qualification. 

  
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 5.6    Additional Conditions. Any Award may be subject to such provisions
(whether or not applicable to any other Award or Recipient) as the Administrator deems appropriate, including without limitation provisions for the forfeiture of or restrictions on resale or other disposition of securities of the Company acquired
under this Plan, provisions giving the Company the right to repurchase securities of the Company acquired under this Plan in the event the Recipient leaves the Company for any reason or elects to effect any disposition thereof, and provisions to
comply with federal and state securities laws. 
 5.7    No Privileges Regarding Stock Ownership or Specific Assets.
Except as otherwise set forth herein, a Recipient or a permitted transferee of an Award will have no rights as a stockholder with respect to any shares issuable or issued in connection with the Award until the Recipient has delivered to the Company
all amounts payable and performed all obligations required to be performed in connection with exercise of the Award and the Company has issued such shares. No person will have any right, title or interest in any fund or in any specific asset
(including shares of capital stock) of the Company by reason of any Award granted hereunder. Neither this Plan (or any documents related hereto) nor any action taken pursuant hereto is to be construed to create a trust of any kind or a fiduciary
relationship between the Company and any person. To the extent that any person acquires a right to receive an Award hereunder, such right shall be no greater than the right of any unsecured general creditor of the Company. 

5.8    Nonassignability. No Award is assignable or transferable except: (a) by will or by the laws of descent and
distribution; or (b) subject to the final sentence of this Section 5.8, upon dissolution of marriage pursuant to a qualified domestic relations order or, in the discretion of the Administrator on a case-by-case basis and under circumstances that would not adversely affect the interests of the Company, transfers for estate planning purposes or pursuant to a nominal
transfer that does not result in a change in beneficial ownership. Subject to the final sentence of this Section 5.8, during the lifetime of a Recipient, an Award granted to such person will be exercisable only by the
Recipient (or the Recipient’s permitted transferee) or such person’s guardian or legal representative. Notwithstanding the foregoing, Stock Options intended to be treated as Incentive Stock Options (or other Awards subject to transfer
restrictions under the IRC) (i) may not be assigned or transferred in violation of Section 422(b)(5) of the IRC or the regulations thereunder, and nothing herein is intended to allow such assignment or transfer; and (ii) will be
exercisable during a Recipient’s lifetime only by the Recipient. 
 5.9    Information To Recipients. 

(a)    Provision of Information. The Administrator in its sole discretion may determine what, if any, financial and
other information is to be provided to Recipients and when such financial and other information is to be provided after giving consideration to applicable federal and state laws, rules and regulations, including, without limitation, applicable
federal and state securities laws, rules and regulations. 
 (b)    Confidentiality. The furnishing of financial
and other information that is confidential to the Company is subject to the Recipient’s agreement to maintain the confidentiality of such financial and other information, and not to use the information for any purpose other than evaluating the
Recipient’s position under this Plan. The Administrator may impose other restrictions on the access to and use of such confidential information and may require a Recipient to acknowledge the Recipient’s obligations under
this Section 5.9(b) (which acknowledgment is not to be a condition to Recipient’s obligations under this Section 5.9(b)). 

5.10    Withholding Taxes. Whenever the granting, vesting or exercise of any Award, or the issuance of any Common Stock or
other securities upon exercise of any Award or transfer thereof, gives rise to tax or tax withholding liabilities or obligations, the Administrator will have the right as a condition thereto to require the Recipient to remit to the Company up to the
maximum statutory amount necessary, in the applicable jurisdiction, to satisfy any federal, state, and local withholding tax requirements on any Award under the Plan. The Administrator may, in the exercise of its discretion, allow satisfaction of
tax withholding requirements by accepting delivery of stock of the Company or by withholding a portion of the stock otherwise issuable in connection with an Award, in each case valued at Fair Market Value as of the date of such delivery or
withholding, as the case may be. 
 5.11    Legends on Awards and Stock Certificates. Each Award Document and each
certificate representing securities acquired upon grant, vesting or exercise of an Award must be endorsed with all legends, if any, required by applicable federal and state securities and other laws to be placed on the Award Document and/or the
certificate. The determination of which legends, if any, will be placed upon Award Documents or the certificates will be made by the Administrator in its discretion and such decision will be final and binding. 

  
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 5.12    Effect of Termination of Employment on Awards. 

(a)    Termination of Vesting. Notwithstanding anything to the contrary herein, but subject
to Section 5.12(b) Awards will be exercisable by a Recipient (or the Recipient’s successor in interest) following such Recipient’s termination of employment or service only to the extent that
installments thereof had become exercisable on or prior to the date of such termination. 

(b)    Alteration of Vesting and Exercise Periods. Notwithstanding anything to the contrary herein, the
Administrator may in its discretion: (i) designate shorter or longer periods following a Recipient’s termination of employment or service during which Awards may vest or be exercised; provided, however, that any shorter periods
determined by the Administrator will be effective only if provided for in this Plan or the instrument that evidences the grant to the Recipient of the affected Award or if such shorter period is agreed to in writing by the Recipient; and
(ii) accelerate the vesting of all or any portion of any Awards by increasing the number of shares purchasable at any time. 

(c)    Leave of Absence. In the case of any employee on an approved leave of absence, the Administrator may make
such provision respecting continuance of Awards granted to such employee as the Administrator in its discretion deems appropriate, except that in no event will an Award be exercisable after the date such Award would expire in accordance with its
terms had the Recipient remained continuously employed. 
 (d)    General Cessation. Except as otherwise set
forth in this Plan or an Award Document or as determined by the Administrator in its discretion, all Awards granted to a Recipient, and all of such Recipient’s rights thereunder, will terminate upon termination for any reason of such
Recipient’s employment or service with the Company or any Affiliated Entity (or cessation of any other service relationship between the Recipient and the Company or any Affiliated Entity in place as of the date the Award was granted). 

5.13    Lock-Up Agreements. Each Recipient agrees as a condition to receipt of an
Award that, in connection with any public offering by the Company of its equity securities and upon the request of the Company and the principal underwriter (if any) in such public offering, any shares of Common Stock acquired or that may be
acquired upon exercise or vesting of an Award may not be sold, offered for sale, encumbered, or otherwise disposed of or subjected to any transaction that will involve any sales or other transfer of securities of the Company, or any interest
therein, without the prior written consent of the Company or such underwriter, as the case may be, for a period of not more than 365 days after the commencement date of such public offering. Each Recipient will, if requested by the Company or the
principal underwriter, enter into a separate agreement to the effect of this Section 5.13. 

5.14    Restrictions on Common Stock and Other Securities. Common Stock or other securities of the Company issued or
issuable in connection with any Award will be subject to all of the restrictions imposed under this Plan upon Common Stock issuable or issued upon exercise of Stock Options, except as otherwise determined by the Administrator. 

5.15    Limits on Awards to Eligible Persons. Notwithstanding any provision in the Plan to the contrary, the aggregate value
of cash compensation and the grant date fair market value of shares of Common Stock subject to Awards (calculated as of the date of grant in accordance with applicable accounting rules) that may be awarded or granted during any single calendar year
to any one Eligible Person who is a Non-Employee Director shall not exceed $750,000. For the avoidance of doubt, if a Non-Employee Director serves the Company in more
than one capacity during any single calendar year, the total compensation limit described in this Section 5.15 shall only apply to the compensation paid for services performed as a
Non-Employee Director. To the extent any Non-Employee Director compensation is deferred, it shall be counted toward this total compensation limit only for the year in
which the compensation was first earned or granted. The limitations set forth in this Section 5.15 will be subject to adjustment as provided in Section 3.4 or
under Article VIII. 

  
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 5.16    Section 409A. If any payments under this Plan are subject to the
provisions of Section 409A of the IRC, it is intended that the terms of this Plan and the applicable Award Document will comply fully with and meet all of the requirements of Section 409A of the IRC. If, at the time of an Eligible
Person’s Separation from Service, the Company has any stock which is publicly traded on an established securities market or otherwise, and if the Eligible Person is considered to be a Specified Employee, to the extent any payment for any Award
is subject to the requirements of Section 409A of the IRC and is payable upon the Eligible Person’s Separation from Service, such payment shall not commence prior to the first business day following the date which is six (6) months
after the Eligible Person’s Separation from Service (or if earlier than the end of the six (6) month period, the date of the Eligible Person’s death). Any amounts that would have been distributed during such six (6) month period
will be distributed on the day following the expiration of the six (6) month period. Under no circumstances may the time or schedule of any payment for any Award that is subject to the requirements of Section 409A of the IRC be accelerated
or subject to further deferral except as otherwise permitted or required pursuant to regulations and other guidance issued pursuant to Section 409A of the IRC. If the Company fails to make any payment pursuant to the payment provisions
applicable to an Award that is subject to Section 409A of the IRC, either intentionally or unintentionally, within the time period specified in such provisions, but the payment is made within the same calendar year, such payment will be treated
as made within the specified time period. In addition, in the event of a dispute with respect to any payment, such payment may be delayed in accordance with the regulations and other guidance issued pursuant to Section 409A of the IRC. 

5.17    Clawback. Every Award issued pursuant to this Plan is subject to potential forfeiture or recovery to the fullest
extent called for by law, any applicable listing standard, or any current or future clawback policy that may be adopted by the Company from time to time, including, without limitation, any clawback policy adopted to comply with the final rules
issued by the Securities and Exchange Commission and the final listing standards to be adopted by the NASDAQ Stock Market (or the rules of any exchange on which the Common Stock is then listed) pursuant to Section 954 of the Dodd-Frank Wall
Street Reform and Consumer Protection Act. By accepting an Award, each Recipient consents to the potential forfeiture or recovery of his or her Awards pursuant to applicable law, listing standard, and/or Company clawback policy, and agrees to be
bound by and comply with the clawback policy and to return the full amount required by the clawback policy. As a condition to the receipt of any Award, a Recipient may be required to execute any requested additional documents consenting to and
agreeing to abide by the Company clawback policy as it may be amended from time to time. 
 ARTICLE VI 

AWARDS 

6.1    Stock Options. 

(a)    Nature of Stock Options. Stock Options may be Incentive Stock Options or Nonqualified Stock Options. 

(b)    Option Exercise Price. The exercise price for each Stock Option will be determined by the Administrator as
of the date such Stock Option is granted and shall not be less than the Fair Market Value of the underlying stock on the date of grant; provided, however, that in the case of Stock Options granted to employees upon a merger or acquisition,
and to the extent permitted by Section 409A of the IRC, the exercise price may be higher or lower than the Fair Market Value of the underlying stock on the date of grant if such exercise price is required to assume or substitute options held by
employees of the acquired corporation at the time of the acquisition. 
 (c)    Option Period and Vesting. Stock
Options granted hereunder will vest and may be exercised as determined by the Administrator, except that the exercise of Stock Options after termination of the Recipient’s employment or service shall be subject
to Section 5.12 and Section 6.1(e). Each Stock Option granted hereunder and all rights or obligations thereunder shall expire on such date as may be determined by the Administrator,
but not later than ten (10) years after the date the Stock Option is granted and may be subject to earlier termination as provided herein or in the Award Document. Except as otherwise provided herein, a Stock Option will become exercisable, as
a whole or in part, on the date or dates specified by the Administrator and thereafter will remain exercisable until the exercise, expiration or earlier termination of the Stock Option. 

(d)    Exercise of Stock Options. The exercise price for Stock Options will be paid as set forth
in Section 5.3. No Stock Option will be exercisable except in respect of whole shares, and fractional share interests 

  
 9 












 
shall be disregarded. Not fewer than 100 shares of Common Stock (or such other amount as may be set forth in the applicable Award Document) may be purchased at one time and Stock Options must be
exercised in multiples of 100 unless the number purchased is the total number of shares for which the Stock Option is exercisable at the time of exercise. A Stock Option will be deemed to be exercised when the Secretary or other designated official
of the Company receives written notice of such exercise from the Recipient in such form as the Company may specify from time to time, together with payment of the exercise price in accordance with Section 5.3 and
any amounts required under Section 5.10 or, with permission of the Administrator, arrangement for such payment. Notwithstanding any other provision of this Plan, the Administrator may impose, by rule and/or in
Award Documents, such conditions upon the exercise of Stock Options (including, without limitation, conditions limiting the time of exercise to specified periods) as may be required to satisfy applicable regulatory requirements, including, without
limitation, Rule 16b-3 and Rule 10b-5 under the Exchange Act, and any amounts required under Section 5.10, or any applicable
section of or regulation under the IRC. 
 (e)    Termination of Employment. 

 

	 	(i)	 Termination for Just Cause. Subject to Section 5.12 and except as
otherwise provided in a written agreement between the Company or an Affiliated Entity and the Recipient, which may be entered into at any time before or after termination of employment or service, in the event of a Just Cause Dismissal of a
Recipient all of the Recipient’s unexercised Stock Options, whether or not vested, will expire and become unexercisable as of the date of such Just Cause Dismissal. 



 

	 	(ii)	 Termination Other Than for Just Cause. Subject to Section 5.12 and except
as otherwise provided in a written agreement between the Company or an Affiliated Entity and the Recipient, which may be entered into at any time before or after termination of employment or service, if a Recipient’s employment or service with
the Company or any Affiliated Entity terminates for: 


  

	 	(A)	 any reason other than for Just Cause Dismissal, death, or Permanent Disability, the Recipient’s vested
Stock Options will expire and become unexercisable as of the earlier of: (1) the date such Stock Options would expire in accordance with their terms had the Recipient remained employed; and (2) 90 days after the date of termination of
employment or service. 


  

	 	(B)	 death or Permanent Disability, the Recipient’s unexercised, vested Stock Options will expire and become
unexercisable as of the earlier of: (1) the date such Stock Options would expire in accordance with their terms had the Recipient remained employed; and (2) one year after the date of termination of employment or service.



 (f)    Special Provisions Regarding Incentive Stock Options. Notwithstanding anything herein to the
contrary: 
  

	 	(i)	 The exercise price and vesting period of any Stock Option intended to be treated as an Incentive Stock Option
must comply with the provisions of Section 422 of the IRC and the regulations thereunder. As of the Effective Date, such provisions require, among other matters, that: (A) the exercise price must not be less than the Fair Market Value of
the underlying stock as of the date the Incentive Stock Option is granted, and not less than 110% of the Fair Market Value as of such date in the case of a grant to a Significant Stockholder; and (B) that the Incentive Stock Option not be
exercisable after the expiration of ten (10) years from the date of grant or the expiration of five (5) years from the date of grant in the case of an Incentive Stock Option granted to a Significant Stockholder. 



 

	 	(ii)	 The aggregate Fair Market Value (determined as of the respective date or dates of grant) of the Common Stock
for which one or more Stock Options granted to any Recipient under this Plan (or any other option plan of the Company or of any Parent Corporation or Subsidiary Corporation) may for the first time become exercisable as Incentive Stock Options under
the federal tax laws during any one calendar year may not exceed $100,000. 



  
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	 	(iii)	 Any Stock Options granted as Incentive Stock Options pursuant to this Plan that for any reason fail or cease to
qualify as such will be treated as Nonqualified Stock Options. If the limit described in Section 6.1(f)(ii) is exceeded, the earliest granted Stock Options will be treated as Incentive Stock Options, up to such
limit. 


  

	 	(iv)	 Subject to adjustment as provided in Section 3.4, the maximum number of shares of
Common Stock that may be issued as Incentive Stock Options under the Plan shall be the same numeric limit set forth in Section 3.1. 



(g)    Non-Employee Director Options.
Article VII will govern Non-Employee Director Options to the extent inconsistent with this Section 6.1. 

6.2    Performance Awards. 

(a)    Grant of Performance Award. The Administrator will determine in its discretion the performance goals (which
need not be identical and may be established on an individual or group basis) governing Performance Awards, the terms thereof, and the form and time of payment of Performance Awards. 

(b)    Payment of Award. Upon satisfaction of the conditions applicable to a Performance Award, payment will be
made to the Recipient in cash, in shares of Common Stock valued at Fair Market Value as of the date payment is due, or in a combination of Common Stock and cash, as the Administrator in its discretion may determine. 

6.3    Restricted Stock. 

(a)    Award of Restricted Stock. The Administrator will determine the Purchase Price (if any), the terms of
payment of the Purchase Price, the restrictions upon the Restricted Stock, and when such restrictions will lapse. 

(b)    Requirements of Restricted Stock. All shares of Restricted Stock granted or sold pursuant to this Plan will
be subject to the following conditions: 
  

	 	(i)	 No Transfer. The shares may not be sold, assigned, transferred, pledged, hypothecated or otherwise
disposed of, alienated or encumbered until the restrictions are removed or expire. 


  

	 	(ii)	 Certificates. The Administrator may require that the certificates representing Restricted Stock granted
or sold to a Recipient remain in the physical custody of an escrow holder or the Company until all restrictions are removed or expire. 


  

	 	(iii)	 Restrictive Legends. Each certificate representing Restricted Stock granted or sold to a Recipient
pursuant to this Plan will bear such legend or legends making reference to the restrictions imposed upon such Restricted Stock as the Administrator in its discretion deems necessary or appropriate to enforce such restrictions. 



 

	 	(iv)	 Other Restrictions. The Administrator may impose such other conditions on Restricted Stock as the
Administrator may deem advisable, including, without limitation, restrictions under the Securities Act, under the Exchange Act, under the requirements of any stock exchange or interdealer quotation system upon which such Restricted Stock or other
securities of the Company are then listed or traded and under any blue sky or other securities laws applicable to such shares. 



(c)    Lapse of Restrictions. The restrictions imposed upon Restricted Stock will lapse in accordance with such
terms or other conditions as are determined by the Administrator. 

  
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 (d)    Rights of Recipient. Subject to the provisions
of Section 6.3(b) and any restrictions imposed upon the Restricted Stock, the Recipient will have all rights of a stockholder with respect to the Restricted Stock granted or sold to such Recipient under
this Plan, including, without limitation, the right to vote the shares and receive all dividends and other distributions paid or made with respect thereto. 

(e)    Termination of Employment. Unless the Administrator in its discretion determines otherwise, if a
Recipient’s employment or service with the Company or any Affiliated Entity terminates for any reason, all of the Recipient’s Restricted Stock remaining subject to restrictions on the date of such termination of employment or service will
be repurchased by the Company at the Purchase Price (if any) paid by the Recipient to the Company, without interest or premium, and otherwise returned to the Company without consideration. 

6.4    Stock Appreciation Rights. 

(a)    Granting of Stock Appreciation Rights. The Administrator may at any time and from time to time approve the
grant to Eligible Persons of Stock Appreciation Rights, related or unrelated to Stock Options. 
 (b)    SARs Related to
Options. 
  

	 	(i)	 A Stock Appreciation Right related to a Stock Option will entitle the holder of the related Stock Option, upon
exercise of the Stock Appreciation Right, to surrender such Stock Option, or any portion thereof to the extent previously vested but unexercised, with respect to the number of shares as to which such Stock Appreciation Right is exercised, and to
receive payment of an amount computed pursuant to Section 6.4(b)(iii). Such Stock Option will, to the extent surrendered, then cease to be exercisable. 



 

	 	(ii)	 A Stock Appreciation Right related to a Stock Option hereunder will be exercisable at such time or times, and
only to the extent that, the related Stock Option is exercisable, and will not be transferable except to the extent that such related Stock Option may be transferable (and under the same conditions), will expire no later than the expiration of the
related Stock Option, and may be exercised only when the market price of the Common Stock subject to the related Stock Option exceeds the exercise price of the Stock Option. 



 

	 	(iii)	 Upon the exercise of a Stock Appreciation Right related to a Stock Option, the Recipient will be entitled to
receive payment of an amount determined by multiplying: (A) the difference obtained by subtracting the exercise price of a share of Common Stock specified in the related Stock Option from the Fair Market Value of a share of Common
Stock on the date of exercise of such Stock Appreciation Right (or as of such other date or as of the occurrence of such event as may have been specified in the instrument evidencing the grant of the Stock Appreciation Right), by (B) the number
of shares as to which such Stock Appreciation Right is exercised. 


 (c)    SARs Unrelated to
Options. The Administrator may grant Stock Appreciation Rights unrelated to Stock Options. Section 6.4(b)(iii) will govern the amount payable at exercise under such Stock Appreciation Right, except that in
lieu of an option exercise price the initial base amount specified in the Award shall be used. All Stock Appreciation Rights unrelated to Stock Options shall be granted subject to the same terms and conditions applicable to Stock Options as set
forth in Section 6.1. 
 (d)    Limits. Notwithstanding the foregoing, the
Administrator, in its discretion, may place a dollar limitation on the maximum amount that will be payable upon the exercise of a Stock Appreciation Right. 

(e)    Payments. Payment of the amount determined under the foregoing provisions may be made solely in whole shares
of Common Stock valued at their Fair Market Value on the date of exercise of the Stock Appreciation Right or, alternatively, at the discretion of the Administrator, in cash or in a combination of cash and shares of Common Stock as the Administrator
deems advisable. The Administrator has full discretion to determine the form in which payment of a Stock Appreciation Right will be made and to consent to or disapprove the election of a Recipient 

  
 12 












 
to receive cash in full or partial settlement of a Stock Appreciation Right. If the Administrator decides to make full payment in shares of Common Stock, and the amount payable results in a
fractional share, payment for the fractional share will be made in cash. 
 6.5    Stock Payments. The Administrator may
approve Stock Payments to any Eligible Person on such terms and conditions as the Administrator may determine. Stock Payments will replace cash compensation at the Fair Market Value of the Common Stock on the date payment is due. 

6.6    Dividend Equivalents and Dividends. The Administrator may grant dividends and/or Dividend Equivalents to any
Recipient who has received an Award denominated in shares of Common Stock other than Stock Options or SARs or, to the extent unearned, Performance Awards. Dividends and Equivalents may be paid in cash, Common Stock or other Awards, in each case, in
accordance with the requirements of Section 409A or an exception thereto; the amount of Dividend Equivalents paid other than in cash will be determined by the Administrator by application of such formula as the Administrator may deem
appropriate to translate the cash value of dividends paid to the alternative form of payment of the Dividend Equivalent. Dividends and Dividend Equivalents will be computed as of each dividend record date but in no event may any dividends or
Dividend Equivalents vest or be paid prior to the vesting of the corresponding Award. 
 6.7    Stock Bonuses. The
Administrator may issue Stock Bonuses to Eligible Persons on such terms and conditions as the Administrator may determine. 

6.8    Stock Sales. The Administrator may sell to Eligible Persons shares of Common Stock on such terms and conditions as
the Administrator may determine. 
 6.9    Phantom Stock. The Administrator may grant Awards of Phantom Stock to Eligible
Persons. Phantom Stock is a cash payment measured by the Fair Market Value of a specified number of shares of Common Stock on a specified date, or measured by the excess of such Fair Market Value over a specified minimum, which may but need not
include a Dividend Equivalent. 
 6.10    Restricted Stock Units. The Administrator is authorized to make Awards of
Restricted Stock Units to Eligible Persons in such amounts and subject to such terms and conditions as determined by the Administrator. 

(a)    Voting Rights. During the restricted period, Eligible Persons holding Restricted Stock Units shall have no
voting rights with respect to the Common Stock subject to such Restricted Stock Units. Voting rights will only be available after the issuance of Common Stock pursuant to the Plan. 

(b)    Payment for Restricted Stock Units. Payment for any vested Restricted Stock Units will generally be made in
one lump sum payment of shares of Common Stock. As a general rule, with the exception of deferred compensation elections, the shares payable under any Restricted Stock Unit Award will be issued to the Eligible Person within 60 days following the
date on which the Restricted Stock Units vest. Unless the related Award Document is structured to qualify for an exception to the requirements of Section 409A of the IRC, such payment is intended to be made at a specified time or pursuant to a
fixed schedule under Treas. Reg. Section 1.409A-3(a)(4). 
 6.11    Other
Stock-Based Benefits. The Administrator is authorized to grant Other Stock-Based Benefits. Other Stock-Based Benefits are any arrangements granted under this Plan not otherwise described above that: (a) by their terms might involve
the issuance or sale of Common Stock or other securities of the Company; or (b) involve a benefit that is measured, as a whole or in part, by the value, appreciation, dividend yield or other features attributable to a specified number of shares
of Common Stock or other securities of the Company. 
 ARTICLE VII 

NON-EMPLOYEE DIRECTOR OPTIONS 

7.1    Vesting. All grants of Non-Employee Director Options shall fully vest and
become exercisable one year following the grant date if the Recipient has remained a director for the entire period from the date of grant to such vesting date. Notwithstanding the foregoing, if the Recipient has remained a director from the period
of the date of 

  
 13 












 
grant until the next annual meeting of stockholders following the grant date, but ceases to be a director following the annual meeting of stockholders (either because the director is not re-elected or because the director chooses not to run for another term), the Stock Options that were granted to the director at the annual meeting in the prior year shall continue to vest following the date that the
Recipient ceases to be a director and shall become exercisable one year following the grant date. Except as otherwise provided in this Section 7.1, all Non-Employee Director Options that have not
vested and become exercisable at the time the Recipient ceases to be a director shall terminate. 
 7.2    Exercise. Non-Employee Director Options will be exercisable, and the exercise price therefor shall be paid, in the same manner as provided herein for other Stock Options. 

7.3    Term of Options and Effect of Termination. Notwithstanding any other provision of the Plan, no Non-Employee Director Option granted under the Plan shall be exercisable after the expiration of ten years from the effective date of its grant. In the event that the Recipient of any
Non-Employee Director Options granted under the Plan shall cease to be a director of the Company, subject to Section 5.12, all grants of Non-Employee Director Options shall be exercisable, to the extent already exercisable at the date such Recipient ceases to be a director and regardless of the reason the Recipient ceases to be a director until the
expiration of the Non-Employee Director Option according to its terms and shall then terminate. In the event of the death of a Recipient while such Recipient is a director of the Company or within the period
after termination of such status during which he or she is permitted to exercise a Stock Option such Stock Option may be exercised by any person or persons designated by the Recipient on a beneficiary designation form adopted by the Administrator
for such purpose or, if there is no effective beneficiary designation form on file with the Company, by the executors or administrators of the Recipient’s estate or by any person or persons who shall have acquired the Stock Option directly from
the Recipient by his or her will or the applicable laws of descent and distribution. 
 7.4    Amendment; Suspension. The
Administrator may at any time and from time to time in its discretion: (a) change the vesting periods associated with the Non-Employee Director Options; and (b) suspend and reactivate
this Article VII. 
 ARTICLE VIII 

CHANGE IN CONTROL 

8.1    Provision for Awards Upon Change in Control. Unless otherwise set forth in an Award Document or in
this Section 8.1, as of the effective time and date of any Change in Control, this Plan and any then outstanding Awards (whether or not vested) will automatically terminate unless: (a) provision is made in writing
in connection with such transaction for the continuance of this Plan and for the assumption of such Awards, or for the substitution for such Awards of new awards covering the securities of a successor entity or an affiliate thereof, with appropriate
adjustments as to the number and kind of securities and exercise prices or other measurement criteria, in which event this Plan and such outstanding Awards will continue or be replaced, as the case may be, in the manner and under the terms so
provided; or (b) the Board otherwise provides in writing for such adjustments as it deems appropriate in the terms and conditions of the then-outstanding Awards (whether or not vested), including, without limitation, (i) accelerating the
vesting of outstanding Awards; and/or (ii) providing for the cancellation of Awards and their automatic conversion into the right to receive the securities, cash or other consideration that a holder of the shares underlying such Awards would
have been entitled to receive upon consummation of such Change in Control had such shares been issued and outstanding immediately prior to the effective date and time of the Change in Control (net of the appropriate option exercise prices). If,
pursuant to the foregoing provisions of this Section 8.1, this Plan and the Awards terminate by reason of the occurrence of a Change in Control without provision for any of the action(s) described in clause (a) or
(b) hereof, then subject to Section 5.12 and Section 6.1(e), any Recipient holding outstanding Awards will have the right, at such time prior to the consummation of the Change
in Control as the Board designates, to exercise or receive the full benefit of the Recipient’s Awards to the full extent not theretofore exercised, including any installments which have not yet become vested. Notwithstanding anything to the
contrary in this Section 8.1, the vesting provisions of Section 7.1 or any other provision in the Plan, all Awards granted to Non-Employee
Directors under the Plan shall automatically vest and become exercisable immediately prior to any Change in Control if the optionee is a director of the Company at that time. 

  
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 ARTICLE IX 

DEFINITIONS 
 Capitalized terms used in
this Plan and not otherwise defined have the meanings set forth below: 
 “Administrator” means the Board as
long as no Committee has been appointed and is in effect and also means the Committee to the extent that the Board has delegated authority thereto. 

“Affiliated Entity” means any Parent Corporation of the Company or Subsidiary Corporation of
the Company or any other entity controlling, controlled by, or under common control with the Company. 
 “Applicable Dividend
Period” means: (a) the period between the date a Dividend Equivalent is granted and the date the related Award terminates or is converted to Common Stock; or (b) such other time as the Administrator may specify in the
written instrument evidencing the grant of the Dividend Equivalent. 
 “Award” means any Stock Option,
Performance Award, Restricted Stock, Stock Appreciation Right, Stock Payment, Stock Bonus, Stock Sale, Phantom Stock, Dividend Equivalent, Restricted Stock Unit or Other Stock-Based Benefit granted or sold to an Eligible Person under this Plan, or
any similar award granted by the Company prior to the Effective Date and outstanding as of the Effective Date that is governed by this Plan. 

“Award Document” means the agreement or confirming memorandum (or other instrument including, without limitation,
electronic instruments) setting forth the terms and conditions of an Award. An Award Document may be in the form of an agreement to be executed by both the Recipient and the Company (or an authorized representative of the Company) or certificates,
notices or similar instruments as approved by the Administrator. 
 “Board” means the Board of Directors of the
Company. 
 “Change in Control” means the following and shall be deemed to occur if any of the following events
occurs: 
  

	 	(i)	 Except as provided by subparagraph (iii) hereof, the acquisition (other than from the Company) by any
person, entity or “group”, within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act (excluding, for this purpose, the Company or its subsidiaries, or any executive benefit plan of the Company or its
subsidiaries which acquires beneficial ownership of voting securities of the Company), of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of forty percent (40%)
or more of either the then outstanding shares of Common Stock or the combined voting power of the Company’s then outstanding voting securities entitled to vote generally in the election of directors; or 



 

	 	(ii)	 Individuals who, as of the date hereof, constitute the Board (as of the date hereof, the “Incumbent
Board”) cease for any reason to constitute at least a majority of the Board, provided that any person becoming a director subsequent to the date hereof whose election, or nomination for election by the Company’s stockholders, is or was
approved by a vote of at least a majority of the directors then comprising the Incumbent Board (other than an election or nomination of an individual whose initial assumption of office is in connection with an actual or threatened election contest
relating to the election of the Directors of the Company, as such terms are used in Rule 14a-11 of Regulation 14A promulgated under the Exchange Act) shall be, for purposes of this Plan, considered as though
such person were a member of the Incumbent Board; or 


  

	 	(iii)	 Consummation by the Company of a reorganization, merger or consolidation with any other person, entity or
corporation, other than: 


  

	 	(A)	 a merger or consolidation which would result in the voting securities of the Company outstanding immediately
prior thereto continuing to represent (either 



  
 15 













	 	
by remaining outstanding or by being converted into voting securities of another entity) more than fifty percent (50%) of the combined voting power of the voting securities of the Company or such
other entity outstanding immediately after such merger or consolidation, or 

  

	 	(B)	 a merger or consolidation effected to implement a recapitalization of the Company (or similar transaction) in
which no person acquires forty percent (40%) or more of the combined voting power of the Company’s then outstanding voting securities; or 


  

	 	(iv)	 Approval by the stockholders of the Company of a plan of complete liquidation of the Company or an agreement
for the sale or other disposition by the Company of all or substantially all of the Company’s assets. 



“Committee” means any committee appointed by the Board to administer this Plan pursuant
to Section 4.1. 
 “Common Stock” means the common stock of the
Company, $0.001 par value per share, as constituted on the Effective Date, and as thereafter adjusted under Section 3.4. 

“Company” means QuidelOrtho Corporation, a Delaware corporation. 

“Dividend Equivalent” means a right granted by the Company
under Section 6.6 to a holder of an Award denominated in shares of Common Stock to receive from the Company during the Applicable Dividend Period payments equivalent to the amount of dividends payable to holders
of the number of shares of Common Stock underlying such Award. 
 “Effective Date” means May 15, 2018.

 “Eligible Person” includes directors, including Non-Employee
Directors, officers, employees, consultants and advisors of the Company or of any Affiliated Entity; provided, however, that in order to be Eligible Persons, consultants and advisors must render bona fide services to the
Company or any Affiliated Entity that are not in connection with capital-raising. 
 “Exchange Act” means the
Securities Exchange Act of 1934, as amended. 
 “Expiration Date” means the tenth (10th) anniversary of the
Effective Date. 
 “Fair Market Value” of a share of the Company’s capital stock as of a particular date
means: (a) if the stock is listed on an established stock exchange or exchanges (including for this purpose, the NASDAQ Stock Market), the closing sale price of the stock for such date on the primary exchange upon which the stock trades, as
measured by volume, as published in The Wall Street Journal, or, if no sale price was quoted for such date, then as of the next preceding date on which such a sale price was quoted; or (b) if the stock is not then listed on an
exchange (including the NASDAQ Stock Market), the average of the closing bid and asked prices per share for the stock in the over-the-counter market on such date (in the
case of (a) or (b), subject to adjustment as and if necessary and appropriate to set an exercise price not less than 100% of the fair market value of the stock on the date an Award is granted); or (c) if the stock is not then listed on an
exchange or quoted in the over-the-counter market, an amount determined in good faith by the Administrator; provided, however, that (i) when
appropriate, the Administrator in determining Fair Market Value of capital stock of the Company may take into account such other factors as it may deem appropriate under the circumstances, and (ii) if the stock is traded on the NASDAQ SmallCap
Market and both sales prices and bid and asked prices are quoted or available, the Administrator may elect to determine Fair Market Value under either clause (a) or (b) above. Notwithstanding the foregoing, the Fair Market Value of capital
stock for purposes of grants of Stock Options and Stock Appreciation Rights must be determined in a manner consistent with Section 409A of the IRC and, to the extent applicable, Section 422 of the IRC. The Fair Market Value of rights or
property other than capital stock of the Company means the fair market value thereof as determined by the Administrator on the basis of such factors as it may deem appropriate. 

  
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 “Incentive Stock Option” means a Stock Option that qualifies as
an incentive stock option under Section 422 of the IRC. 
 “IRC” means the Internal Revenue
Code of 1986, as amended. 
 “Just Cause Dismissal” means a termination of a Recipient’s employment for
any of the following reasons: (a) the Recipient violates any reasonable rule or regulation of the Board, the Company’s President or Chief Executive Officer or the Recipient’s superiors that results in damage to the Company or any
Affiliated Entity or which, after written notice to do so, the Recipient fails to correct within a reasonable time not exceeding 15 days; (b) any willful misconduct or gross negligence by the Recipient in the responsibilities assigned to the
Recipient; (c) any willful failure to perform the Recipient’s job as required to meet the objectives of the Company or any Affiliated Entity; (d) any wrongful conduct of a Recipient which has an adverse impact on the Company
(including, causing reputational harm to the Company) or any Affiliated Entity or which constitutes a misappropriation of assets of the Company or any Affiliated Entity; (e) the Recipient’s performing services for any other person or
entity that competes with the Company while the Recipient is employed by the Company without the written approval of the Chief Executive Officer of the Company; or (f) any other conduct that the Administrator reasonably determines constitutes
Just Cause for Dismissal; provided, however, that if a Recipient is party to an employment agreement with the Company or any Affiliated Entity providing for just cause dismissal (or some comparable concept) of Recipient from
Recipient’s employment with the Company or any Affiliated Entity, “Just Cause Dismissal” for purposes of this Plan will have the same meaning as ascribed thereto or to such comparable concept in such employment agreement. 

“Non-Employee Director” means a director of the Company who qualifies as
a “Non-Employee Director” under Rule 16b-3 under the Exchange Act. 

“Non-Employee Director Option” means a right to purchase stock of the
Company granted under Article VII of this Plan. 
 “Nonqualified Stock Option” means a Stock
Option that is not an Incentive Stock Option. 
 “Other Stock-Based Benefits” means an Award granted
under Section 6.10. 
 “Parent Corporation” means any Parent Corporation as
defined in Section 424(e) of the IRC. 
 “Performance Award” means an Award
under Section 6.2, payable in cash, Common Stock or a combination thereof, that vests and becomes payable over a period of time upon attainment of performance goals established in connection with the grant of the
Award, which may be based on, among other criteria selected by the Administrator, the Performance Criteria, or other financial performance and/or personal performance evaluations. 

“Performance Criteria” means any one or more of the following performance criteria, or derivations of such
performance criteria, either individually, alternatively or in any combination, applied to either the Company as a whole or to a business unit or Affiliated Entity, either individually, alternatively or in any combination, and measured either
annually (or over such shorter period) or cumulatively over a period of years, on an absolute basis or relative to a pre-established target, to previous years’ results or to a designated comparison group,
in each case as specified by the Administrator: (a) cash flow; (b) earnings and earnings per share (including earnings before interest, taxes, and amortization); (c) return on equity; (d) total Stockholder return; (e) return
on capital; (f) return on assets or net assets; (g) product price or product sales; (h) market share or market penetration with respect to specific designated products and/or geographic areas; (i) revenues, income or net income;
(j) operating income or net operating income; (k) operating margin; (l) return on revenue or operating revenue; and (m) research and development milestones. 

“Permanent Disability” means that the Recipient becomes physically or mentally incapacitated or disabled so that
the Recipient is unable to perform substantially the same services as the Recipient performed prior to incurring such incapacity or disability (the Company, at its option and expense, being entitled to retain a physician to confirm the existence of
such incapacity or disability, and the determination of such physician to be binding upon the Company and the Recipient), and such incapacity or disability continues for a period of three (3) consecutive months or six (6) months in any 12-month period or such other period(s) as may be determined by the Administrator with respect to any 

  
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Award; provided, however, that for purposes of determining the period during which an Incentive Stock Option may be exercised pursuant
to Section 6.1(e), Permanent Disability shall mean “permanent and total disability” as defined in Section 22(e) of the IRC. 

“Person” means any person, entity or group, within the meaning of
Section 13(d) or 14(d) of the Exchange Act, but excluding: (a) the Company and its subsidiaries; (b) any employee stock ownership or other employee benefit plan maintained by the Company; and (c) an underwriter or
underwriting syndicate that has acquired the Company’s securities solely in connection with a public offering thereof. 

“Phantom Stock” means an Award granted under Section 6.9. 

“Plan” means this 2018 Equity Incentive Plan of the Company. 

“Plan Term” means the period during which this Plan remains in effect (commencing the Effective Date and ending
on the Expiration Date). 
 “Prior Plans” mean the 2001 Equity Incentive Plan of the Company, as
amended and the 2010 Equity Incentive Plan of the Company, as amended, and the 2016 Equity Incentive Plan of the Company, as amended. 

“Purchase Price” means the purchase price (if any) to be paid by a Recipient for Restricted Stock as determined
by the Administrator (which price shall be at least equal to the minimum price required under applicable laws and regulations for the issuance of Common Stock which is nontransferable and subject to a substantial risk of forfeiture until specific
conditions are met). 
 “Recipient” means a person who has received an Award. 

“Reorganization” means any merger, consolidation or other reorganization. 

“Restricted Stock” means Common Stock that is the subject of an Award made
under Section 6.3 and that is nontransferable and subject to a substantial risk of forfeiture until specific conditions are met, as set forth in this Plan and in any statement evidencing the grant of such Award.

 “Restricted Stock Unit” means the right granted to an Eligible Person to receive Common Stock
in the future, at no monetary cost to the Eligible Person, the payment of which is subject to restrictions determined by the Administrator and to risk of forfeiture. 

“Securities Act” means the Securities Act of 1933, as amended. 

“Separation from Service” is a term that applies only in the context of an Award that the Company concludes is
subject to Section 409A of the IRC and shall have the meaning as defined for purposes of Section 409A. 
 “Significant
Stockholder” is an individual who, at the time a Stock Option is granted to such individual under this Plan, owns more than 10% of the total combined voting power of all classes of stock of the Company or of any Parent Corporation
or Subsidiary Corporation (after application of the attribution rules set forth in Section 424(d) of the IRC). 

“Specified Employee” means certain officers and highly compensated employees of the Company as
defined in Treas. Reg. § 1.409A-1(i). 
 “Stock Appreciation
Right” or “SAR” means a right granted under Section 6.4 to receive a payment that is measured with reference to the amount by which the Fair Market Value of a
specified number of shares of Common Stock appreciates from a specified date, such as the date of grant of the SAR, to the date of exercise. 

“Stock Bonus” means an issuance or delivery of unrestricted or restricted shares of Common Stock
under Section 6.7 as a bonus for services rendered or for any other valid consideration under applicable law. 

  
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 “Stock Payment” means a payment in shares of the Company’s
Common Stock under Section 6.5 to replace all or any portion of the compensation or other payment (other than base salary) that would otherwise become payable to the Recipient in cash. 

“Stock Option” means a right to purchase stock of the Company granted
under Section 6.1 or Article VII of this Plan. 
 “Stock
Sale” means a sale of Common Stock to an Eligible Person under Section 6.8. 

“Subsidiary Corporation” means any Subsidiary Corporation as defined in Section 424(f) of the IRC. 


  
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