EX-10.7




 Exhibit 10.7 

CONSENSUS CLOUD SOLUTIONS, INC. 

2021 EMPLOYEE STOCK PURCHASE PLAN 

1. ESTABLISHMENT, PURPOSE AND TERM OF PLAN. 

1.1 ESTABLISHMENT. Consensus Cloud Solutions, Inc. 2021 Employee Stock Purchase Plan (the “PLAN”) is hereby
established effective as of October 7, 2021 (the “EFFECTIVE DATE”), subject to the approval by Company shareholders. The Plan is being established in connection with separation of the Company from Ziff Davis, Inc, a Delaware
corporation (“Ziff Davis”), pursuant to the Separation and Distribution Agreement dated as of October 7, 2021. 

1.2 PURPOSE. The purpose of the Plan is to advance the interests of Company and its stockholders by providing an incentive to
attract, retain and reward Eligible Employees of the Participating Company Group and by motivating such persons to contribute to the growth and profitability of the Participating Company Group. The Plan provides such Eligible Employees with an
opportunity to acquire a proprietary interest in the Company through the purchase of Stock. The Company intends that the Plan qualify as an “employee stock purchase plan” under Section 423 of the Code (including any amendments or
replacements of such section), and the Plan shall be so construed. 
 1.3 TERM OF PLAN. The Plan shall continue in effect
until the earlier of its termination by the Board or the date on which all of the shares of Stock available for issuance under the Plan have been issued. 

2. DEFINITIONS AND CONSTRUCTION. 

2.1 DEFINITIONS. Any term not expressly defined in the Plan but defined for purposes of Section 423 of the Code shall have
the same definition herein. Whenever used herein, the following terms shall have their respective meanings set forth below: 

(a) “BOARD” means the Board of Directors of the Company. If one or more Committees have been appointed by the Board
to administer the Plan, “BOARD” also means such Committee(s). 
 (b) “CODE” means the Internal Revenue
Code of 1986, as amended, and any applicable regulations promulgated thereunder. 
 (c) “COMMITTEE” means the
Compensation Committee or other committee of the Board duly appointed to administer the Plan and having such powers as shall be specified by the Board. Unless the powers of the Committee have been specifically limited, the Committee shall have all
of the powers of the Board granted herein, including, without limitation, the power to amend or terminate the Plan at any time, subject to the terms of the Plan and any applicable limitations imposed by law. 











 (d) “COMPANY” means Consensus Cloud Solutions, Inc., a Delaware
corporation, or any Successor. 
 (e) “COMPENSATION” means, with respect to any Offering Period, all salary, wages
(including amounts elected to be deferred by the employee, that would otherwise have been paid, under any cash or deferred arrangement established by the Company) and overtime pay, but excluding commissions, bonuses, profit sharing, the cost of
employee benefits paid for by the Company, education or tuition reimbursements, imputed income arising under any Company group insurance or benefit program, traveling expenses, business and moving expense reimbursements, income received in
connection with stock options, contributions made by the Company under any employee benefit plan, and similar items of compensation. Compensation shall also include payments while on a leave of absence during which participation continues pursuant
to Section 2.1(g) to such extent as may be provided by the Company’s leave policy. 
 (f) “ELIGIBLE
EMPLOYEE” means an Employee who meets the requirements set forth in Section 5 for eligibility to participate in the Plan. 

(g) “EMPLOYEE” means a person treated as an employee of a Participating Company for purposes of Section 423 of
the Code. A Participant shall be deemed to have ceased to be an Employee either upon an actual termination of employment or upon the corporation employing the Participant ceasing to be a Participating Company. For purposes of the Plan, an individual
shall not be deemed to have ceased to be an Employee while on any military leave or other leave of absence approved by the Company of ninety (90) days or less. If an individual’s leave of absence exceeds ninety (90) days, the
individual shall be deemed to have ceased to be an Employee on the ninety-first (91st) day of such leave unless the individual’s right to reemployment with the Participating Company Group is guaranteed either by statute or by contract. 

(h) “EMPLOYEE MATTERS AGREEMENT” means the Employee Matters Agreement between Ziff Davis and the Company dated as of
October 7, 2021. 
 (i) “FAIR MARKET VALUE” means, as of any date: 

(i) If the Stock is listed on any established stock exchange or traded on the Nasdaq National Market or the Nasdaq SmallCap
Market, the Fair Market Value of a share of Stock shall be the closing sales price for such stock (or the closing bid, if no sales were reported) as quoted on such exchange or market (or if the stock is traded on more than one exchange or market,
the exchange or market with the greatest volume of trading in the Stock) on the day of determination, as reported in THE WALL STREET JOURNAL or such other source as the Board deems reliable. In the absence of such markets for the Stock, the Fair
Market Value shall be determined in good faith by the Board. 

  
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 (ii) For purposes of this Plan, if the date as of which the Fair Market
Value is to be determined is not a market trading day, then solely for the purpose of determining Fair Market Value such date shall be the last market trading day prior to the Purchase Date. 

(j) “J2 ESPP” means the j2 Global Communications, Inc. 2001 Employee Stock Purchase Plan. 

(k) “OFFERING” means an offering of Stock as provided in Section 6. 

(l) “OFFERING DATE” means, for any Offering, the first day of the Offering Period. 

(m) “OFFERING PERIOD” means a period established in accordance with Section 6. 

(n) “PARENT CORPORATION” means any present or future “parent corporation” of the Company, as defined in
Section 424(e) of the Code. 
 (o) “PARTICIPANT” means an Eligible Employee who has become a participant in an
Offering Period in accordance with Section 7 and remains a participant in accordance with the Plan. 
 (p)
“PARTICIPATING COMPANY” means the Company and any Parent Corporation or Subsidiary Corporation designated by the Board as a corporation the Employees of which may, if Eligible Employees, participate in the Plan. The Board shall have the
sole and absolute discretion to determine from time to time which Parent Corporations or Subsidiary Corporations shall be Participating Companies. 

(q) “PARTICIPATING COMPANY GROUP” means, at any point in time, the Company and all other corporations collectively
which are then Participating Companies. 
 (r) “PURCHASE DATE” means, for any Offering, the last day of the
Offering Period; provided, however, that the Board in its discretion may establish one or more additional Purchase Dates during any Offering Period. 

(s) “PURCHASE PRICE” means the price at which a share of Stock may be purchased under the Plan, as determined in
accordance with Section 9. 
 (t) “PURCHASE RIGHT” means an option granted to a Participant pursuant to the
Plan to purchase such shares of Stock as provided in Section 8, which the Participant may or may not exercise during the Offering Period in which such option is outstanding. Such option arises from the right of a Participant to withdraw any
accumulated payroll deductions of the Participant not previously applied to the purchase of Stock under the Plan and to terminate participation in the Plan during an Offering Period, in accordance with such rules and procedures as may be established
by Board. 

  
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 (u) “SPINOFF TRANSACTION” means a transaction in which the voting
stock of an entity in the Participating Company Group is distributed to the shareholders of a parent corporation as defined by Section 424(e) of the Code, of such entity. 

(v) “STOCK” means the common stock of the Company, as adjusted from time to time in accordance with Section 4.2.

 (w) “SUBSCRIPTION AGREEMENT” means an agreement in such form as specified by the Company which is delivered in
written form or by communicating with the Company in such other manner as the Company may authorize, stating an Employee’s election to participate in the Plan and authorizing payroll deductions under the Plan from the Employee’s
Compensation. 
 (x) “SUBSCRIPTION DATE” means the Offering Date of an Offering Period, or such earlier date as the
Company shall establish. 
 (y) “SUBSIDIARY CORPORATION” means any present or future “subsidiary
corporation” of the Company, as defined in Section 424(f) of the Code. 
 (z) “SUCCESSOR” means a
corporation into or with which the Company is merged or consolidated or which acquires all or substantially all of the assets of the Company and which is designated by the Board as a Successor for purpose of the Plan. 

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

3.1 ADMINISTRATION BY THE BOARD. The Plan shall be administered by the Board and its designees. Subject to the provisions of
the Plan, the Board shall determine all of the relevant terms and conditions of Purchase Rights; provided, however, that all Participants granted Purchase Rights pursuant to an Offering shall have the same rights and privileges within the meaning of
Section 423(b)(5) of the Code in such Offering. All expenses incurred in connection with the administration of the Plan shall be paid by the Company. While the Company is a public reporting company, the Plan shall be administered by the
Committee, which shall consist of not less than two directors. The members of the Committee shall be appointed by, and serve at the pleasure of, the Board. To the extent required for transactions under the Plan to qualify for exemptions available
under Rule 16b-3 (“Rule 16b-3”) promulgated under the Securities Exchange Act of 1934 (the “1934 Act”), all actions relating to awards to persons
subject to Section 16 of the 1934 Act shall be taken by the Board unless each person who serves on the Committee is a “non-employee director” within the meaning of Rule 16b-3 or such actions are taken by a sub-committee of the Committee (or the Board) comprised solely of “non-employee
directors”. 

  
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 3.2 AUTHORITY OF OFFICERS. Any officer of the Company shall have the
authority to act on behalf of the Company with respect to any matter, right, obligation, determination or election that is the responsibility of or that is allocated to the Company herein, provided that the officer has actual authority with respect
to such matter, right, obligation, determination or election. Any decision or determination of the Company made by an Officer having actual authority with respect thereto, shall be final, binding and conclusive on the Participating Company Group,
any Participant, and all persons having an interest in the Plan, or any Option granted hereunder, unless such Officer’s decision or determination is arbitrary or capricious, fraudulent, or made in bad faith. 

3.3 POLICIES AND PROCEDURES ESTABLISHED BY THE COMPANY. The Company may, from time to time, consistent with the Plan and the
requirements of Section 423 of the Code, establish, interpret change or terminate such rules, guidelines, policies, procedures, limitations, or adjustments as deemed advisable by the Company, in its discretion, for the proper administration of
the Plan, including, without limitation, (a) a minimum payroll deduction amount required for participation in an Offering, (b) a limitation on the frequency or number of changes permitted in the rate of payroll deduction during an
Offering, (c) an exchange ratio applicable to amounts withheld in a currency other than United States dollars, (d) a payroll deduction greater than or less than the amount designated by a Participant in order to adjust for the
Company’s delay or mistake in processing a Subscription Agreement or in otherwise effecting a Participant’s election under the Plan or as advisable to comply with the requirements of Section 423 of the Code, and (e) determination
of the date and manner by which the Fair Market Value of a share of Stock is determined for purposes of administration of the Plan. 

The Board’s determination of the construction and interpretation of any provision of the Plan, and any actions taken, and
any decisions or determinations made pursuant to the terms of the Plan, shall be final, binding and conclusive on the Participating Company Group, any Participant, and any person having an interest in the Plan or any Option granted hereunder unless
the Board’s action, decision or determination is arbitrary or capricious, fraudulent, or made in bad faith. 
 3.4
INDEMNIFICATION. In addition to such other rights of indemnification as they may have as members of the Board or Officers or Employees of the Participating Company Group, members of the Board and any Officers or Employees of the Participating
Company Group to whom authority to act for the Board or the Company is delegated shall be indemnified by the Company against all reasonable expenses, including attorneys’ fees, actually and necessarily incurred in connection with the defense of
any action, suit or proceeding, or in connection with any appeal therein, to which they or any of them may be a party by reason of any action taken or failure to act under or in connection with the Plan, or any right granted hereunder, and against
all amounts paid by them in settlement thereof (provided such settlement is approved by independent legal counsel selected by the Company) or paid by them in satisfaction of a judgment in any such action, suit or proceeding, except in relation to
matters as to which it shall be adjudged in such action, suit or proceeding that such person is liable for gross negligence, bad faith or intentional misconduct in duties; provided, however, that within sixty (60) days after the institution of
such action, suit or proceeding, such person shall offer to the Company, in writing, the opportunity at its own expense to handle and defend the same and to retain complete control over the litigation and/or settlement of such suit, action or
proceeding. 

  
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 4. SHARES SUBJECT TO PLAN. 

4.1 MAXIMUM NUMBER OF SHARES ISSUABLE. Subject to adjustment as provided in Section 4.2, the maximum aggregate number of
shares of Stock that may be issued under the Plan shall be One Million (1,000,000), and shall consist of authorized but unissued or reacquired shares of Stock, or any combination thereof. If an outstanding Purchase Right for any reason expires or is
terminated or canceled, the shares of Stock allocable to the unexercised portion of that Purchase Right shall again be available for issuance under the Plan. 

4.2 ADJUSTMENTS FOR CHANGES IN CAPITAL STRUCTURE. In the event of any stock dividend, stock split, reverse stock split,
recapitalization, combination, reclassification or similar change in the capital structure of the Company, or in the event of any merger (including a merger effected for the purpose of changing the Company’s domicile), sale of assets or other
reorganization in which the Company is a party, appropriate adjustments shall be made in the number and class of shares subject to the Plan, each Purchase Right, and in the Purchase Price. If a majority of the shares of the same class as the shares
subject to outstanding Purchase Rights are exchanged for, converted into, or otherwise become (whether or not pursuant to an Ownership Change Event, as defined below) shares of another corporation (the “NEW SHARES”), the Board may
unilaterally amend the outstanding Purchase Rights to provide that such Purchase Rights are exercisable for New Shares. In the event of any such amendment, the number of shares subject to, and the Purchase Price of, the outstanding Purchase Rights
shall be adjusted in a fair and equitable manner, as determined by the Board, in its discretion. Notwithstanding the foregoing, any fractional share resulting from an adjustment pursuant to this Section 4.2 shall be rounded down to the nearest
whole number, and in no event may the Purchase Price be decreased to an amount less than the par value, if any, of the stock subject to the Purchase Right. 

5. ELIGIBILITY. 

5.1 EMPLOYEES ELIGIBLE TO PARTICIPATE. Each Employee of a Participating Company is eligible to participate in the Plan and
shall be deemed an Eligible Employee, except any Employee who is either: (a) customarily employed by the Participating Company Group for twenty (20) hours or less per week (b) customarily employed by the Participating Company Group
for not more than five (5) months in any calendar year or (c) has not completed thirty (30) days of service with a Participating Company, or such other service requirement, up to a maximum of two (2) years, which the Board may
require. As of the Effective Date, any “SpinCo Group Employee” (as defined in the Employee Matters Agreement) who was actively participating in the J2 ESPP shall participate in the Plan. 

  
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 5.2 EXCLUSION OF CERTAIN STOCKHOLDERS. Notwithstanding any provision of the
Plan to the contrary, no Employee shall be treated as an Eligible Employee and granted a Purchase Right under the Plan if, immediately after such grant, the Employee would own or hold options to purchase stock of the Company or of any Parent
Corporation or Subsidiary Corporation possessing five percent (5%) or more of the total combined voting power or value of all classes of stock of such corporation, as determined in accordance with Section 423(b)(3) of the Code. For purposes of
this Section 5.2, the attribution rules of Section 424(d) of the Code shall apply in determining the stock ownership of such Employee. 

5.3 DETERMINATION BY COMPANY. The Company shall determine in good faith and in the exercise of its discretion whether an
individual has become or has ceased to be an Employee or an Eligible Employee and the effective date of such individual’s attainment or termination of such status, as the case may be. For purposes of an individual’s eligibility to
participate in or other rights, if any, under the Plan as of the time of the Company’s determination, all such determinations by the Company shall be final, binding and conclusive, unless the Company’s determination is arbitrary or
capricious, fraudulent, or made in bad faith notwithstanding that the Company or any court of law or governmental agency subsequently makes a contrary determination. 

6. OFFERINGS. 
 The Plan shall
be implemented by sequential Offerings of approximately six (6) months duration or such other duration as the Board shall determine (an “OFFERING PERIOD”). Offering Periods shall commence on or about May 1 and November 1 of
each year and end on or about the next October 31 and April 30, respectively, occurring thereafter. Notwithstanding the foregoing, the Board, in its sole and absolute discretion, may establish a different duration for one or more Offering
Periods or different commencing or ending dates for such Offering Periods; provided, however, that no Offering Period may have a duration exceeding twenty-seven (27) months. In addition, notwithstanding the foregoing, the first Offering Period
shall commence as of the Effective Date and shall end on the date the applicable “Offering Period” in effect under the J2 ESPP immediately prior to the Effective Date was scheduled to end. 

7. PARTICIPATION IN THE PLAN. 

7.1 INITIAL PARTICIPATION. An Eligible Employee may become a Participant in an Offering Period by delivering a properly
completed Subscription Agreement, in accordance with such rules and procedures as may be specified by the Company. An Eligible Employee who does not deliver a properly completed Subscription Agreement to the Company in the required time period shall
not participate in the Plan for that Offering Period. Furthermore, the Eligible Employee may not participate in a subsequent Offering Period unless a properly completed Subscription Agreement is delivered to the Company on or before the Subscription
Date for such subsequent Offering Period. Notwithstanding the foregoing, as of the Effective Date, any “SpinCo Group Employee” (as defined in the Employee Matters Agreement) who was actively participating in the J2 ESPP shall participate
in the Plan based on his or her election then in effect under the J2 ESPP. 

  
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 7.2 CONTINUED PARTICIPATION. A Participant shall automatically participate
in the next Offering Period commencing immediately after the Purchase Date of each Offering Period in which the Participant participates provided that the Participant remains an Eligible Employee on the Offering Date of the new Offering Period and
has not either (a) withdrawn from the Plan pursuant to Section 12.1 or (b) terminated employment as provided in Section 13. A Participant who may automatically participate in a subsequent Offering Period, as provided in this
Section, is not required to deliver any additional Subscription Agreement for the subsequent Offering Period in order to continue participation in the Plan. However, a Participant may deliver a new Subscription Agreement for a subsequent Offering
Period in accordance with the procedures set forth in Section 7.1 if the Participant desires to change any of the elections contained in the Participant’s then effective Subscription Agreement. 

8. RIGHT TO PURCHASE SHARES. 

8.1 GRANT OF PURCHASE RIGHT. 

(i) Except as set forth below (or as otherwise specified by the Board prior to the Offering Date), on the Offering Date of each
Offering Period, each Participant in that Offering Period shall be granted automatically a Purchase Right consisting of an option to purchase that number of whole shares of Stock determined by either dividing fifteen percent (15%) of such
Participant’s Compensation during the Offering Period by the Purchase Price of a share of Stock for such Offering Period or by dividing Twelve Thousand Five Hundred Dollars ($12,500) by the Fair Market Value of a share of Stock on such Offering
Date, whichever is less. In connection with any Offering made under this Plan, the Board or the Committee may specify a maximum number of shares of Common Stock which may be purchased by any employee as well as a maximum aggregate number of shares
of Common Stock which may be purchased by all eligible employees pursuant to such Offering. In addition, in connection with any Offering which contains more than one Purchase Date, the Board or the Committee may specify a maximum aggregate number of
shares which may be purchased by all eligible employees on any given Purchase Date under the Offering. 
 (ii)
Notwithstanding the foregoing, the aggregate number of shares for which Purchase Rights may be granted in any Offering Period may not exceed the maximum number of shares which have been, prior to the Offering Date for such Offering Period, reserved
for the Plan and approved by the stockholders of the Company and not previously been purchased upon the exercise of Purchase Rights in any prior Offering Period. 

  
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 (iii) If the aggregate purchase of shares of Common Stock upon exercise of
rights granted under the Offering would exceed any such maximum aggregate number, the Board or the Committee shall make a pro rata allocation of the shares of Common Stock available in as nearly a uniform manner as shall be practicable and as it
shall deem to be equitable. No Purchase Right shall be granted on an Offering Date to any person who is not, on such Offering Date, an Eligible Employee. 

(iv) For the first Offering Period under the Plan, the number of shares of Common Stock eligible to be purchased shall be
determined pursuant to Section 4.03(b) of the Employee Matters Agreement. 
 8.2 SUBSTITUTION OF RIGHTS. The grant of
rights under an Offering may be done to carry out the substitution of rights under the Plan for pre-existing rights granted under another employee stock purchase plan, if such substitution is pursuant to a
transaction described in Section 424(a) of the Code (or any successor provision thereto) and the characteristics of such substitute rights conform to the requirements of Section 424(a) of the Code (or any successor provision thereto) and
will not cause the disqualification of this Plan under Section 423 of the Code. Notwithstanding the other terms of the Plan, such substitute rights shall have the same characteristics as the characteristics associated with such pre-existing rights, including, but not limited to, the following: 
 (i) the date on which
such pre-existing right was granted shall be the “Offering Date” of such substitute right for purposes of determining the date of grant of the substitute right; 

(ii) the Offering (as defined below) for such substitute right shall begin on its Offering Date and end coincident on the
applicable Purchase Date, but no later than the end of the offering (as determined under the terms of such offering) under which the pre-existing right was granted. 

8.3 PRO RATA ADJUSTMENT OF PURCHASE RIGHT. If the Board establishes an Offering Period of any duration other than three months,
then any limitation on the number of shares of Stock subject to each Purchase Right granted on the Offering Date of such Offering Period set forth in Section 8.1(i) shall be prorated based upon the ratio which the number of months in such
Offering Period bears to three (3). 
 8.4 CALENDAR YEAR PURCHASE LIMITATION. Notwithstanding any provision of the Plan to
the contrary, no Participant shall be granted a Purchase Right which permits his or her right to purchase shares of Stock under the Plan to accrue at a rate which, when aggregated with such Participant’s rights to purchase shares under all
other employee stock purchase plans of a Participating Company intended to meet the requirements of Section 423 of the Code, exceeds Twenty-Five Thousand Dollars ($25,000) in Fair Market Value (or such other limit, if any, as may be imposed by
the Code) for each calendar year in which such Purchase Right is outstanding at any time. For purposes of the preceding sentence, the Fair Market Value of shares purchased during a given Offering Period shall be determined as of the Offering Date
for such Offering Period. The limitation described in this Section shall be applied in conformance with applicable regulations under Section 423(b)(8) of the Code. 

  
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 9. PURCHASE PRICE. 

The Purchase Price for an Offering Period shall be eighty-five percent (85%) of the lesser of the Fair Market Value of a share of Stock on
(i) the Offering Date and (ii) the Purchase Date (provided that such formula shall be adjusted pursuant to Section 4.03(b) of the Employment Agreement for the first Offering Period under the Plan). 

10. ACCUMULATION OF PURCHASE PRICE THROUGH PAYROLL DEDUCTION. 

Shares of Stock acquired pursuant to the exercise of all or any portion of a Purchase Right may be paid for only by means of payroll
deductions from the Participant’s Compensation accumulated during the Offering Period for which such Purchase Right was granted, and, if a payroll deduction is not permitted under a statute, regulation, rule of a jurisdiction, or is not
administratively feasible, such other payments as may be approved by the Company, subject to the following: 
 10.1 AMOUNT OF
PAYROLL DEDUCTIONS. Except as otherwise provided herein, the amount to be deducted under the Plan from a Participant’s Compensation on each payday during an Offering Period shall be determined by the Participant’s Subscription Agreement.
The Subscription Agreement shall set forth the percentage of the Participant’s Compensation to be deducted on each payday during an Offering Period in whole percentages, up to fifteen percent (15%). The Board may change the foregoing limits on
payroll deductions effective as of any Offering Date. 
 10.2 COMMENCEMENT OF PAYROLL DEDUCTIONS. Subject to
Section 4.03(b) of the Employee Matters Agreement, payroll deductions shall commence on the first payday following the Offering Date and shall continue through the last payday prior to the end of the Offering Period unless sooner altered or
terminated as provided herein. 
 10.3 ELECTION TO CHANGE OR STOP PAYROLL DEDUCTIONS. During an Offering Period, to the
extent provided for in the Offering, a Participant may elect to decrease the rate of or to stop deductions from his or her Compensation by delivering to the Company an amended Subscription Agreement, in such form and manner as specified by the
Company, authorizing such change on or before the Change Notice Date, as defined below. A Participant who elects, effective following the first payday of an Offering Period, to decrease the rate of his or her payroll deductions to zero percent (0%)
shall nevertheless remain a Participant in the current Offering Period unless such Participant withdraws from the Plan as provided in Section 12.1. The “CHANGE NOTICE DATE” shall be the day established in accordance with procedures
established by the Company. 

  
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 10.4 COMPANY’S HOLDING OF DEDUCTION. All payroll deductions from a
Participant’s Compensation shall be deposited with the general funds of the Company. All payroll deductions received or held by the Company may be used by the Company for any corporate purpose. Interest shall not be paid on sums deducted from a
Participant’s Compensation pursuant to the Plan. 
 10.5 VOLUNTARY WITHDRAWAL OF DEDUCTIONS. A Participant may withdraw
payroll deductions credited to the Plan and not previously applied toward the purchase of Stock only as provided in Section 12.1. 

11. PURCHASE OF SHARES. 

11.1 EXERCISE OF PURCHASE RIGHT. On each Purchase Date, each Participant’s accumulated payroll deductions and other
additional payments specifically permitted by the Plan (without any increase for interest), will be applied to the purchase of whole shares of Stock, up to the maximum number of shares permitted pursuant to the terms of the Plan and the applicable
Offering, at the Purchase Price for such Offering. No fractional shares shall be issued upon the exercise of Purchase Rights granted under the Plan. The amount, if any, of each Participant’s accumulated payroll deductions remaining after the
purchase of shares which is less than the amount required to purchase one share of Stock on the final Purchase Date of an Offering shall be retained in each such Participant’s account for the purchase of shares under the next Offering under the
Plan, unless such Participant withdraws from such next Offering, as provided in Section 12.1, or is no longer eligible to be granted rights under the Plan, as provided in Section 5, in which case such amount shall be distributed to the
Participant after said final Purchase Date, without interest. The amount, if any, of each Participant’s accumulated payroll deductions remaining after the purchase of shares which is equal to the amount required to purchase whole shares of
Stock on the final Purchase Date of an Offering shall be refunded in full to the Participant after such Purchase Date, without interest. 

11.2 PRO RATA ALLOCATION OF SHARES. If the number of shares of Stock which might be purchased by all Participants in the Plan
on a Purchase Date exceeds the number of shares of Stock available in the Plan as provided in Section 4.1, the Company shall make a pro rata allocation of the remaining shares in as uniform a manner as practicable and as the Company determines
to be equitable. Any fractional share resulting from such pro rata allocation to any Participant shall be disregarded. 

11.3 DELIVERY OF SHARES. As soon as practicable after each Purchase Date, the Company shall arrange the delivery to each
Participant of the shares acquired by the Participant on such Purchase Date; provided that the Company may deliver such shares to a broker designated by the Company that will hold such shares for the benefit of the Participant. Shares to be
delivered to a Participant under the Plan shall be registered, or held in an account, in the name of the Participant, or, if requested by the Participant, such other name or names as the Company may permit under rules established for the operation
and administration of the Plan. 

  
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 11.4 TAX WITHHOLDING. At the time a Participant’s Purchase Right is
exercised, in whole or in part, or at the time a Participant disposes of some or all of the shares of Stock he or she acquires under the Plan, the Participant shall make adequate provision for the federal, state, local and foreign tax withholding
obligations, if any, of the Participating Company Group which arise upon exercise of the Purchase Right or upon such disposition of shares, respectively. The Participating Company Group may, but shall not be obligated to, withhold from the
Participant’s compensation the amount necessary to meet such withholding obligations. 
 11.5 EXPIRATION OF PURCHASE
RIGHT. A Purchase Right shall expire immediately upon the end of the Offering Period to the extent it exceeds the number of shares of Stock which are purchased with a Participant’s accumulated payroll deductions or other permitted contribution
during any Offering Period. 
 11.6 PROVISION OF REPORTS AND STOCKHOLDER INFORMATION TO PARTICIPANTS. Each Participant who
has exercised all or part of his or her Purchase Right shall receive, as soon as practicable after the Purchase Date, a report of such Participant’s account setting forth the total payroll deductions accumulated prior to such exercise, the
number of shares of Stock purchased, the Purchase Price for such shares, the date of purchase and the cash balance, if any, remaining immediately after such purchase that is to be refunded or retained on behalf of the Participant pursuant to
Section 11.1. The report required by this Section may be delivered in such form and by such means, including by electronic transmission, as the Company may determine. In addition, each Participant shall be given access to information concerning
the Company equivalent to that information provided generally to the Company’s common stockholders. 
 12. WITHDRAWAL FROM PLAN. 

12.1 VOLUNTARY WITHDRAWAL FROM THE PLAN. A Participant may withdraw from the Plan by signing and delivering to the
Company’s designated office a written notice of withdrawal on a form provided by the Company for this purpose or by communicating with the Company in such other manner as the Company may authorize. A Participant who voluntarily withdraws from
the Plan is prohibited from resuming participation in the Plan in the same Offering from which he or she withdrew, but may participate in any subsequent Offering by again satisfying the requirements of Sections 5 and 7.1. The Company may impose,
from time to time, a requirement that the notice of withdrawal from the Plan be on file with the Company’s designated office for a reasonable period prior to the effectiveness of the Participant’s withdrawal. 

12.2 RETURN OF PAYROLL DEDUCTIONS. Upon a Participant’s voluntary withdrawal from the Plan pursuant to Section 12.1,
the Participant’s accumulated payroll deductions which have not been applied toward the purchase of shares shall be refunded to the Participant as soon as practicable after the withdrawal, without the payment of any interest, and the
Participant’s participation in the Plan shall terminate. Such accumulated payroll deductions to be refunded in accordance with this Section may not be applied to any other Offering under the Plan. 

  
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 13. TERMINATION OF EMPLOYMENT OR ELIGIBILITY. 

13.1 Upon a Participant’s ceasing, prior to a Purchase Date, to be an Employee of the Participating Company Group for any
reason, or upon the failure of a Participant to remain an Eligible Employee, the Participant’s participation in the Plan shall terminate immediately, except as otherwise provided in Section 2.1(g) and Section 13.3. 

13.2 Upon termination of participation, the terminated Participant’s accumulated payroll deductions which have not been
applied toward the purchase of shares shall, as soon as practicable, be returned to the Participant or, in the case of the Participant’s death, to the Participant’s legal representative, and all of the Participant’s rights under the
Plan shall terminate. Interest shall not be paid on sums returned pursuant to this Section 13. A Participant whose participation has been so terminated may again become eligible to participate in future Offerings under the Plan by satisfying
the requirements of Sections 5 and 7.1. 
 13.3 Upon a Participant’s ceasing, prior to a Purchase Date, to be an
Employee of the Participating Company Group for any reason, or upon the failure of a Participant to remain an Eligible Employee, the Participant’s participation in the Plan shall continue, subject to the Participant’s execution of a
general release of claims satisfactory to the Company, for an additional ninety (90) days; provided, however, this Section shall not apply in the event of the Participant’s death, a Spinoff Transaction, or to any Participant on a leave of
absence governed by Section 2.1(g). 
 14. CHANGE IN CONTROL. 

14.1 DEFINITIONS. 

(a) An “OWNERSHIP CHANGE EVENT” shall be deemed to have occurred if any of the following occurs with respect to the
Company: (i) the direct or indirect sale or exchange in a single or series of related transactions by the stockholders of the Company of more than fifty percent (50%) of the voting stock of the Company; (ii) a merger or consolidation in
which the Company is a party; (iii) the sale, exchange, or transfer of all or substantially all, as determined by the Board in its sole discretion, of the assets of the Company; or (iv) a liquidation or dissolution of the Company. 

(b) A “CHANGE IN CONTROL” shall mean an Ownership Change Event or a series of related Ownership Change Events
(collectively, a “TRANSACTION”) wherein the stockholders of the Company immediately before the Transaction do not retain immediately after the Transaction, in substantially the same proportions as their ownership of shares of the
Company’s voting stock immediately before the Transaction, direct or indirect beneficial ownership of more than fifty percent (50%) of the total combined voting power of the outstanding voting securities of the Company or, in the case of a
Transaction described in Section 14.1(a)(ii) or (iii), the corporation or other business entity surviving the merger or consolidation or to which the assets of the Company were transferred (the “TRANSFEREE”), as the case may be. The
Board shall determine in its sole discretion whether multiple sales or exchanges of the voting securities of the Company or multiple Ownership Change Events are related. Notwithstanding the preceding sentence, a Change in Control shall not include
any Transaction in which the voting stock of an entity in the Participating Company Group is distributed to the shareholders of a parent corporation, as defined in Section 424(e) of the Code, of such entity. Any Ownership Change resulting from
an underwritten public offering of the Company’s Stock or the stock of any Participating Company shall not be deemed a Change in Control for any purpose hereunder. 

  
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 14.2 EFFECT OF CHANGE IN CONTROL ON PURCHASE RIGHTS. In the event of a
Change in Control, the surviving, continuing, successor, or purchasing corporation or parent corporation thereof, as the case may be (the “ACQUIRING CORPORATION”), may assume the Company’s rights and obligations under the Plan. If the
Acquiring Corporation elects not to assume the Company’s rights and obligations under outstanding Purchase Rights, the Purchase Date of the then current Offering Period shall be accelerated to a date before the date of the Change in Control
specified by the Board, but the number of shares of Stock subject to outstanding Purchase Rights shall not be adjusted. All Purchase Rights which are neither assumed by the Acquiring Corporation in connection with the Change in Control nor exercised
as of the date of the Change in Control shall terminate and cease to be outstanding effective as of the date of the Change in Control. 

15. NONTRANSFERABILITY OF PURCHASE RIGHTS. 

Neither payroll deductions nor a Participant’s Purchase Right may be assigned, transferred, pledged or otherwise disposed of in any
manner other than as provided by the Plan or by will or the laws of descent and distribution. Any such attempted assignment, transfer, pledge or other disposition shall be without effect, except that the Company may treat such act as an election to
withdraw from the Plan as provided in Section 12.1. A Purchase Right shall be exercisable during the lifetime of the Participant only by the Participant. 

16. COMPLIANCE WITH SECURITIES LAW. 

The issuance of shares under the Plan shall be subject to compliance with all applicable requirements of federal, state and foreign law with
respect to such securities. A Purchase Right may not be exercised if the issuance of shares upon such exercise would constitute a violation of any applicable federal, state or foreign securities laws or other law or regulations or the requirements
of any securities exchange or market system upon which the Stock may then be listed. In addition, no Purchase Right may be exercised unless (a) a registration statement under the Securities Act of 1933, as amended, shall at the time of exercise
of the Purchase Right be in effect with respect to the shares issuable upon exercise of the Purchase Right, or (b) in the opinion of legal counsel to the Company, the shares issuable upon exercise of the Purchase Right may be issued in
accordance with the terms of an applicable exemption from the registration requirements of said Act. The inability of the Company to obtain from any regulatory body having jurisdiction the authority, if any, deemed by the Company’s legal
counsel to be necessary to the lawful issuance and sale of any shares under the Plan shall relieve the Company of any liability in respect of the failure to issue or sell such shares as to which such requisite authority shall not have been obtained.
As a condition to the exercise of a Purchase Right, the Company may require the Participant to satisfy any qualifications that may be necessary or appropriate, to evidence compliance with any applicable law or regulation, and to make any
representation or warranty with respect thereto as may be requested by the Company. 

  
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 17. RIGHTS AS A STOCKHOLDER AND EMPLOYEE. 

A Participant shall have no rights as a stockholder by virtue of the Participant’s participation in the Plan until the date of the
issuance of shares purchased pursuant to the exercise of the Participant’s Purchase Right (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company). No adjustment shall be made for
dividends, distributions or other rights for which the record date is prior to the date such share is issued, except as provided in Section 4.2. Nothing herein shall confer upon a Participant any right to continue in the employ of the
Participating Company Group or interfere in any way with any right of the Participating Company Group to terminate the Participant’s employment at any time. 

18. DISTRIBUTION ON DEATH. 
 If
a Participant dies, the Company shall deliver any shares or cash credited to the Participant to the Participant’s legal representative. 

19. NOTICES. 
 All notices or
other communications by a Participant to the Company under or in connection with the Plan shall be deemed to have been duly given when received in the form specified by the Company at the location, or by the person, designated by the Company for the
receipt thereof. 
 20. AMENDMENT OR TERMINATION OF THE PLAN. 

The Board may at any time amend or terminate the Plan, except that (a) such termination shall not affect Purchase Rights previously
granted under the Plan, except as permitted under the Plan, and (b) no amendment may adversely affect a Purchase Right previously granted under the Plan (except to the extent permitted by the Plan or as may be necessary to qualify the Plan as
an employee stock purchase plan pursuant to Section 423 of the Code or to obtain qualification or registration of the shares of Stock under applicable federal, state or foreign securities laws). In addition, an amendment to the Plan must be
approved by the stockholders of the Company within twelve (12) months of the adoption of such amendment if such amendment would increase the maximum aggregate number of shares of Stock that may be issued under the Plan (except by operation of
the provisions of Section 4.1 or Section 4.2) or would change the definition of the corporations that may be designated by the Board as Participating Companies. 

  
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