EX-10.5





 Exhibit 10.5 

NKARTA, INC. 
 EMPLOYEE
STOCK PURCHASE PLAN 
  

	1.	 PURPOSE 



The purpose of this Plan is to assist Eligible Employees in acquiring a stock ownership interest in the Corporation, at a favorable price and
upon favorable terms, pursuant to a plan which is intended to qualify as an “employee stock purchase plan” under Section 423 of the Code. This Plan is also intended to encourage Eligible Employees to remain in the employ of the
Corporation (or a Subsidiary which may be designated by the Committee as a “Participating Subsidiary”) and to provide them with an additional incentive to advance the best interests of the Corporation. 

 

	2.	 DEFINITIONS 



Capitalized terms used herein which are not otherwise defined shall have the following meanings. 

“Account” means the bookkeeping account maintained by the Corporation, or by a recordkeeper on behalf of the Corporation, for
a Participant pursuant to Section 7(a). 
 “Board” means the Board of Directors of the Corporation. 

“Code” means the U.S. Internal Revenue Code of 1986, as amended from time to time. 

“Commission” means the U.S. Securities and Exchange Commission. 

“Committee” means the committee appointed by the Board to administer this Plan pursuant to Section 12. 

“Common Stock” means the common stock, par value $0.0001 per share, of the Corporation, and such other securities or property
as may become the subject of Options pursuant to an adjustment made under Section 17. 
 “Compensation” means an
Eligible Employee’s regular gross pay. Compensation includes any amounts contributed as salary reduction contributions to a plan qualifying under Section 401(k), 125 or 129 of the Code. Any other form of remuneration is excluded from
Compensation, including (but not limited to) the following: severance pay, overtime payments, commissions, prizes, awards, relocation or housing allowances, stock option exercises, stock appreciation right payments, the vesting or grant of
restricted stock, the payment of stock units, performance awards, auto allowances, tuition reimbursement, perquisites, non-cash compensation and other forms of imputed income, bonuses, incentive compensation,
special payments, fees and allowances. Notwithstanding the foregoing, Compensation shall not include any amounts deferred under or paid from any nonqualified deferred compensation plan maintained by the Corporation or any Subsidiary. 

  
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 “Contributions” means all bookkeeping amounts credited to the Account of a
Participant pursuant to Section 7(a). 
 “Corporation” means Nkarta, Inc., a Delaware corporation, and its successors.

 “Effective Date” means June 30, 2020, the date this Plan was adopted by the Board. 

“Eligible Employee” means any employee of the Corporation, or of any Subsidiary which has been designated in writing by the
Committee as a “Participating Subsidiary” (including any Subsidiaries which have become such after the date that this Plan is approved by the stockholders of the Corporation). Notwithstanding the foregoing and unless otherwise provided by
the Committee in advance of the applicable Offering Period, “Eligible Employee” shall not include any employee: 
  

	 	(a)	 whose customary employment is for not more than five (5) months in a calendar year; or



  

	 	(b)	 whose customary employment is for twenty (20) hours or less per week. 



“Exchange Act” means the U.S. Securities Exchange Act of 1934, as amended from time to time. 

“Exercise Date” means, with respect to an Offering Period, the last day of that Offering Period. 

“Fair Market Value” on any date means: 
  

	 	(a)	 if the Common Stock is listed or admitted to trade on a national securities exchange, the closing price of a
share of Common Stock on such date on the principal national securities exchange on which the Common Stock is so listed or admitted to trade, or, if there is no trading of the Common Stock on such date, then the closing price of a share of Common
Stock on such exchange on the next preceding date on which there was trading in the shares of Common Stock; 


  

	 	(b)	 in the absence of exchange data required to determine Fair Market Value pursuant to the foregoing, the value as
established by the Committee as of the relevant time for purposes of this Plan. 


 “Grant Date” means the
first day of each Offering Period, as determined by the Committee and announced to potential Eligible Employees. 
 “Individual
Limit” has the meaning given to such term in Section 4(b). 

  
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 “New Exercise Date” has the meaning given to such term in Section 18.

 “Offering Period” means the period of six (6) consecutive months commencing on each Grant Date; provided, however,
that the Committee may declare, as it deems appropriate and in advance of the applicable Offering Period, a shorter (not to be less than three months) Offering Period or a longer (not to exceed 27 months) Offering Period; provided, further, that the
Grant Date for an Offering Period may not occur on or before the Exercise Date for the immediately preceding Offering Period. 

“Option” means the stock option to acquire shares of Common Stock granted to a Participant pursuant to Section 8. 

“Option Price” means the per share exercise price of an Option as determined in accordance with Section 8(b). 

“Parent” means any corporation (other than the Corporation) in an unbroken chain of corporations ending with the Corporation
in which each corporation (other than the Corporation) owns stock possessing 50% or more of the total combined voting power of all classes of stock in one or more of the other corporations in the chain. 

“Participant” means an Eligible Employee who has elected to participate in this Plan and who has filed a valid and effective
Subscription Agreement to make Contributions pursuant to Section 6. 
 “Participating Subsidiary” means any Subsidiary
that has been designated in writing by the Committee as a Participating Subsidiary for purposes of this Plan. 
 “Plan”
means this Nkarta, Inc. Employee Stock Purchase Plan, as amended from time to time. 
 “Rule
16b-3” means Rule 16b-3 as promulgated by the Commission under Section 16, as amended from time to time. 

“Share Limit” has the meaning given to such term in Section 4(a). 

“Subscription Agreement” means the written enrollment agreement or applicable electronic form of enrollment agreement filed by
an Eligible Employee with the Corporation (or its designee) pursuant to Section 6 to participate in this Plan. 

“Subsidiary” means any corporation (other than the Corporation) in an unbroken chain of corporations (beginning with the
Corporation) in which each corporation (other than the last corporation) owns stock possessing 50% or more of the total combined voting power of all classes of stock in one or more of the other corporations in the chain. 

  
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	3.	 ELIGIBILITY 



Any person employed as an Eligible Employee as of a Grant Date shall be eligible to participate in this Plan during the Offering Period in
which such Grant Date occurs, subject to the Eligible Employee satisfying the requirements of Section 6. 
  

	4.	 STOCK SUBJECT TO THIS PLAN; SHARE LIMITATIONS 



 

	 	(a)	 Aggregate Share Limit. Subject to the provisions of Section 17, the capital stock that may be
delivered under this Plan will be shares of the Corporation’s authorized but unissued Common Stock and any of its shares of Common Stock held as treasury shares. The maximum number of shares of Common Stock that may be delivered pursuant to
Options granted under this Plan is 295,599 shares, subject to adjustments pursuant to Section 17 (the “Share Limit”). 



In addition, subject to adjustments pursuant to Section 17, the Share Limit shall automatically increase on the first trading day in
January of each calendar year during the term of this Plan, commencing with January 2021, by an amount equal to the lesser of (i) one percent (1%) of the total number of shares of Common Stock issued and outstanding on December 31 of the
immediately preceding calendar year, (ii) 1,000,000 shares of Common Stock or (iii) such number of shares of Common Stock as may be established by the Board. 

In the event that during a particular Offering Period all of the shares of Common Stock made available under this Plan are subscribed prior to
the expiration of this Plan, this Plan and all outstanding Options hereunder shall terminate at the end of that Offering Period and the shares available shall be allocated for purchase by Participants in that Offering Period on a pro-rata basis determined with respect to Participants’ Account balances. 
  

	 	(b)	 Individual Share Limit. The maximum number of shares of Common Stock that any one individual may acquire
upon exercise of his or her Option with respect to any one Offering Period is 5,000 shares, subject to adjustments pursuant to Section 17 (the “Individual Limit”); provided, however, that the Committee may amend such Individual
Limit, effective no earlier than the first Offering Period commencing after the adoption of such amendment, without stockholder approval. The Individual Limit shall be proportionately adjusted for any Offering Period of less than six months, and
may, at the discretion of the Committee, be proportionately increased for any Offering Period of greater than six months. 


  

	 	(c)	 Shares Not Actually Delivered. Shares that are subject to or underlie Options, which for any reason are
cancelled or terminated, are forfeited, fail to vest, or for any other reason are not paid or delivered under this Plan shall again, except to the extent prohibited by law, be available for subsequent Options under this Plan. 



  
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	5.	 OFFERING PERIODS 



During the term of this Plan, the Corporation will offer Options to purchase Shares in each Offering Period to all Participants in that
Offering Period. Unless otherwise specified by the Committee in advance of the Offering Period, Offering Periods will be of six (6) months duration. The Committee will specify in advance of each Offering Period when the Offering Period will
commence and the Grant Date of the Offering Period. Each Option shall become effective on the Grant Date of that Offering Period. The term of each Option shall be the duration of the related Offering Period and shall end on the Exercise Date of that
Offering Period. Offering Periods shall continue until this Plan is terminated in accordance with Section 18 or 19, or, if earlier, until no Shares remain available for Options pursuant to Section 4. 

 

	6.	 PARTICIPATION 



 

	 	(a)	 Enrollment. An Eligible Employee may become a Participant in this Plan by completing a Subscription
Agreement on a form approved by and in a manner prescribed by the Committee (or its delegate). To become effective, a Subscription Agreement must be signed by the Eligible Employee and filed with the Corporation (or its designee) at the time
specified by the Committee, but in all cases prior to the start of the Offering Period with respect to which it is to become effective, and must set forth a whole percentage (or, if the Committee so provides, a stated amount) of the Eligible
Employee’s Compensation to be credited to the Participant’s Account as Contributions each pay period. 


  

	 	(b)	 Contribution Limits. Notwithstanding the foregoing, a Participant’s Contribution election shall be
subject to the following limitations: 


  

	 	(i)	 the $25,000 annual limitation set forth in Section 8(c); 



 

	 	(ii)	 a Participant may not elect to contribute more than fifteen percent (15%) of his or her Compensation each pay
period as Plan Contributions; and 


  

	 	(iii)	 such other limits, rules, or procedures as the Committee may prescribe. 



 

	 	(c)	 Content and Duration of Subscription Agreements. Subscription Agreements shall contain the Eligible
Employee’s authorization and consent to the Corporation’s withholding from his or her Compensation the amount of his or her Contributions. An Eligible Employee’s Subscription Agreement, and his or her participation election and
withholding consent thereon, shall remain valid for all Offering Periods until (i) the Eligible Employee’s participation terminates pursuant to the terms hereof, (ii) the Eligible Employee files a new Subscription Agreement that
becomes effective, or (iii) the Committee requires that a new Subscription Agreement be executed and filed with the Corporation. 


  

	7.	 METHOD OF PAYMENT OF CONTRIBUTIONS 



 

	 	(a)	 Participation Account. The Corporation shall maintain on its books, or cause to be maintained by a
recordkeeper, an Account in the name of each Participant. The percentage (or amount, as applicable) of Compensation elected to be applied as Contributions by a Participant shall be deducted from such Participant’s Compensation on each payday
during the period for payroll deductions set forth below and such payroll deductions shall be credited to that Participant’s Account 



  
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as soon as administratively practicable after such date. A Participant may not make any additional payments to his or her Account. A Participant’s Account shall be reduced by any amounts
used to pay the Option Price of shares acquired, or by any other amounts distributed pursuant to the terms hereof. 

  

	 	(b)	 Commencement of Payroll Deductions. Payroll deductions with respect to an Offering Period shall commence
as of the first day of the payroll period which coincides with or immediately follows the applicable Grant Date and shall end on the last day of the payroll period which coincides with or immediately precedes the applicable Exercise Date, unless
sooner terminated by the Participant as provided in this Section 7 or until his or her Plan participation terminates pursuant to Section 11. 


  

	 	(c)	 Withdrawal During an Offering Period. A Participant may terminate his or her Contributions during an
Offering Period (and receive a distribution of the balance of his or her Account in accordance with Section 11) by completing and filing with the Corporation (or its designee), in such form and on such terms as the Committee (or its delegate)
may prescribe, a written withdrawal form or applicable electronic withdrawal form which shall be completed by the Participant. Such termination shall be effective as soon as administratively practicable after its receipt by the Corporation. A
withdrawal election pursuant to this Section 7(c) with respect to an Offering Period shall only be effective, however, if it is received by the Corporation prior to the Exercise Date of that Offering Period (or such earlier deadline that the
Committee may reasonably require to process the withdrawal prior to the Exercise Date). Partial withdrawals of Accounts, and other modifications or suspensions of Subscription Agreements, except as provided in Section 7(d) or 7(e), are not
permitted. 


  

	 	(d)	 Change in Contribution Elections for the Following Offering Period. A Participant may discontinue,
increase, or decrease the level of his or her Contributions (within Plan limits) by completing and filing with the Corporation (or its designee), on such terms as the Committee (or its delegate) may prescribe, a new Subscription Agreement which
indicates such election. Subject to any additional timing requirements that the Committee may impose, an election pursuant to this Section 7(d) shall be effective with the first Offering Period that commences after the Corporation’s
receipt of such election. 


  

	 	(e)	 Discontinuing Contributions During an Offering Period. A Participant may discontinue his or her
Contributions (but not increase or otherwise decrease the level of his or her Contributions) during an Offering Period, by filing with the Corporation (or its designee), on such terms as the Committee (or its delegate) may prescribe, a new
Subscription Agreement which indicates such election. An election pursuant to this Section 7(e) shall be effective no earlier than the first payroll period that starts after the Corporation’s receipt of such election. If a Participant
elects to discontinue his or her Contributions pursuant to this Section 7(e), the Contributions previously credited to the Participant’s Account for that Offering Period shall be used to exercise the Participant’s Option as of the
applicable Exercise Date in accordance with Section 9 (unless the Participant makes a timely withdrawal election in accordance with Section 7(c), in which case the Participant’s Account will be paid to him or her in cash in accordance
with Section 11(a)). 



  
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	8.	 GRANT OF OPTION 



 

	 	(a)	 Grant Date; Number of Shares. On each Grant Date, each Eligible Employee who is a Participant during
that Offering Period shall be granted an Option to purchase a number of shares of Common Stock. The Option shall be exercised on the Exercise Date. The number of shares subject to the Option shall be determined by dividing the Participant’s
Account balance as of the applicable Exercise Date by the Option Price. 


  

	 	(b)	 Option Price. The Option Price per share of the shares subject to an Option for an Offering Period shall
be the lesser of: (i) 85% of the Fair Market Value of a Share on the Grant Date of that Offering Period; or (ii) 85% of the Fair Market Value of a Share on the Exercise Date of that Offering Period; provided, however, that the Committee may
provide prior to the start of any Offering Period that the Option Price for that Offering Period shall be determined by applying a discount amount (not to exceed 15%) to either (1) the Fair Market Value of Common Shares on the Grant Date of the
Offering Period, or (2) the Fair Market Value of Common Shares on the Exercise Date of that Offering Period, or (3) the lesser of the Fair Market Value of Common Shares on the Grant Date of the Offering Period or the Fair Market Value of
Common Shares on the Exercise Date of that Offering Period. Notwithstanding anything to the contrary in the preceding provisions of this Section 8(b), in no event shall the Option Price per share be less than the par value of a share of Common
Stock. 


  

	 	(c)	 Limits on Share Purchases. Notwithstanding anything else contained herein, a person who is otherwise an
Eligible Employee shall not be granted any Option (or any Option granted shall be subject to compliance with the following limitations) or other right to purchase shares under this Plan to the extent: 



 

	 	(1)	 it would, if exercised, cause the person to own stock (within the meaning of Section 423(b)(3) of the
Code) possessing 5% or more of the total combined voting power or value of all classes of stock of the Corporation, or of any Parent, or of any Subsidiary; or 



 

	 	(2)	 such Option causes such individual to have rights to purchase stock under this Plan and any other plan of the
Corporation, any Parent, or any Subsidiary which is qualified under Section 423 of the Code which accrue at a rate which exceeds $25,000 of the fair market value of the stock of the Corporation, of any Parent, or of any Subsidiary (determined
at the time the right to purchase such stock is granted, before giving effect to any discounted purchase price under any such plan) for each calendar year in which such right is outstanding at any time. 



  
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 For purposes of the foregoing, a right to purchase stock accrues when it first becomes
exercisable during the calendar year. In determining whether the stock ownership of an Eligible Employee equals or exceeds the 5% limit set forth above, the rules of Section 424(d) of the Code (relating to attribution of stock ownership) shall
apply, and stock which the Eligible Employee may purchase under outstanding options shall be treated as stock owned by the Eligible Employee. 
  

	9.	 EXERCISE OF OPTION 



Unless a Participant withdraws from an Offering Period pursuant to Section 7(c) or the Participant’s Plan participation is terminated
as provided in Section 11, his or her Option for the purchase of shares shall be exercised automatically on the Exercise Date for that Offering Period, without any further action on the Participant’s part, and the maximum number of whole
shares subject to such Option (subject to the Individual Limit set forth in Section 4(b) and the limitations contained in Section 8(c)) shall be purchased at the Option Price with the balance of such Participant’s Account. 

If any amount which is not sufficient to purchase a whole share remains in a Participant’s Account after the exercise of his or her Option
on the Exercise Date, such amount shall be refunded to such Participant as soon as administratively practicable after such date; provided that the Committee may provide in advance of an Offering Period for any such amount with respect to that
Offering Period to be credited to the Participant’s Account for the next Offering Period, if he or she is a Participant in such next Offering Period. 

If the Share Limit of Section 4(a) is reached, any amount that remains in a Participant’s Account after the exercise of his or her
Option on the Exercise Date to purchase the number of Shares that he or she is allocated shall be refunded to the Participant as soon as administratively practicable after such date. 

If any amount which exceeds the Individual Limit set forth in Section 4(b) or one of the limitations set forth in Section 8(c)
remains in a Participant’s Account after the exercise of his or her Option on the Exercise Date, such amount shall be refunded to the Participant as soon as administratively practicable after such date. 

 

	10.	 DELIVERY OF SHARES 



As soon as administratively practicable after the Exercise Date, the Corporation shall, in its discretion, either deliver to each Participant a
certificate representing the shares of Common Stock purchased upon exercise of his or her Option, provide for the crediting of such shares in book entry form in the name of the Participant, or provide for an alternative arrangement for the delivery
of such shares to a broker or recordkeeping service for the benefit of the Participant. In the event the Corporation is required to obtain from any commission or agency authority to issue any such certificate or otherwise deliver such shares, the
Corporation will seek to obtain such authority. If the Corporation is unable to obtain from any such commission or agency authority which counsel for the Corporation deems necessary for the lawful issuance of any such certificate or other delivery
of such shares, or if for any other reason the Corporation cannot issue or deliver shares of Common Stock and satisfy Section 21, the Corporation shall be relieved from liability to any Participant except that the Corporation shall return to
each Participant to whom such shares cannot be issued or delivered the amount of the balance credited to his or her Account that would have otherwise been used for the purchase of such shares. 

  
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	11.	 TERMINATION OF EMPLOYMENT; CHANGE IN ELIGIBLE STATUS 



 

	 	(a)	 General. Except as provided in the next paragraph, if a Participant ceases to be an Eligible Employee
for any reason at any time prior to the last day of an Offering Period in which he or she participates, or if the Participant timely elects to terminate Contributions and withdraw from the Plan pursuant to Section 7(c), such Participant’s
Account shall be paid to him or her (or, in the event of the Participant’s death, to the person or persons entitled thereto under Section 13) in cash, and such Participant’s Option and participation in the Plan shall be automatically
terminated. 


 If a Participant (i) ceases to be an Eligible Employee during an Offering Period but remains an
employee of the Corporation or a Participating Subsidiary through the Exercise Date, or (ii) during an Offering Period commences a sick leave, military leave, or other leave of absence approved by the Corporation or a Participating Subsidiary,
and the leave meets the requirements of Treasury Regulation Section 1.421-1(h)(2) and the Participant is an employee of the Corporation or a Participating Subsidiary or on such leave as of the applicable
Exercise Date, such Participant’s Contributions shall cease, and the Contributions previously credited to the Participant’s Account for that Offering Period shall be used to exercise the Participant’s Option as of the applicable
Exercise Date in accordance with Section 9 (unless the Participant makes a timely election to terminate Contributions and withdraw from the Plan in accordance with Section 7(c), in which case such Participant’s Account shall be paid
to him or her in cash in accordance with the foregoing paragraph). 
  

	 	(b)	 Re-Enrollment. A Participant’s termination from Plan
participation precludes the Participant from again participating in this Plan during that Offering Period. However, such termination shall not have any effect upon his or her ability to participate in any succeeding Offering Period, provided that
the applicable eligibility and participation requirements are again then met. A Participant’s termination from Plan participation shall be deemed to be a revocation of that Participant’s Subscription Agreement and such Participant must
file a new Subscription Agreement to resume Plan participation in any succeeding Offering Period. 


  

	 	(c)	 Change in Subsidiary Status. For purposes of this Plan, if a Participating Subsidiary ceases to be a
Subsidiary, each person employed by that Subsidiary will be deemed to have terminated employment for purposes of this Plan and will no longer be an Eligible Employee, unless the person continues as an Eligible Employee in respect of the Corporation
or another Participating Subsidiary. 



  
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	12.	 ADMINISTRATION 



 

	 	(a)	 The Committee. The Board shall appoint the Committee, which shall be composed of not less than two
members of the Board. Subject to the preceding sentence, the Board may, at any time, increase or decrease the number of members of the Committee, may remove from membership on the Committee all or any portion of its members, and may appoint such
person or persons as it desires to fill any vacancy existing on the Committee, whether caused by removal, resignation, or otherwise. The Board may also, at any time, assume or change the administration of this Plan. 



 

	 	(b)	 Powers and Duties of the Committee. The Committee shall administer this Plan and shall have full power
and discretion to adopt, amend and rescind any rules it considers desirable and appropriate for the administration of this Plan and not inconsistent with the terms of this Plan (including, without limitation, rules and deadlines for making elections
under the Plan, which deadlines may be more restrictive than the deadlines otherwise set forth in this Plan), to further define the terms used in this Plan, and to make all other determinations necessary or advisable for the administration of this
Plan or the effectuation of its purposes. The Committee shall act by majority vote or by unanimous written consent. No member of the Committee shall be entitled to act on or decide any matter relating solely to himself or herself or solely to any of
his or her rights or benefits under this Plan. The Committee shall have full power and discretionary authority to construe and interpret the terms and conditions of this Plan and any agreements defining the rights and obligations of the Corporation,
any Subsidiary, and any Participant or other person under this Plan, which construction or interpretation shall be final and binding on all parties including the Corporation, Subsidiaries, Participants and beneficiaries. Notwithstanding anything
else contained in this Plan to the contrary, the Committee may also adopt rules, procedures, separate offerings, or sub-plans applicable to particular Subsidiaries or locations, which separate offerings or sub-plans may be designed to be outside the scope of Section 423 of the Code and need not comply with the otherwise applicable provisions of this Plan. The Committee may delegate ministerial non-discretionary functions to third parties, including individuals who are officers or employees of the Corporation or Participating Subsidiaries. 



 

	 	(c)	 Decisions of the Committee are Binding; Reliance on Experts. Subject only to compliance with the express
provisions hereof, the Board and Committee may act in their absolute discretion in matters within their authority related to this Plan. Any action taken by, or inaction of, the Corporation, any Participating Subsidiary, the Board or the Committee
relating or pursuant to this Plan and within its authority hereunder or under applicable law shall be within the absolute discretion of that entity or body and shall be conclusive and binding upon all persons. In making any determination or in
taking or not taking any action under this Plan, the Board or Committee, as the case may be, may obtain and may rely on the advice of experts, including professional advisors to the Corporation. No member of the Board or Committee, or officer or
agent of the Corporation, will be liable for any action, omission or decision under the Plan taken, made or omitted in good faith. 



  
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	 	(d)	 Indemnification. Neither the Board nor any Committee, nor any member thereof or person acting at the
direction thereof, shall be liable for any act, omission, interpretation, construction or determination made in good faith in connection with this Plan, and all such persons shall be entitled to indemnification and reimbursement by the Corporation
in respect of any claim, loss, damage or expense (including, without limitation, attorneys’ fees) arising or resulting therefrom to the fullest extent permitted by law and/or under any directors and officers liability insurance coverage that
may be in effect from time to time. 


  

	13.	 DEATH BENEFITS 



In the event of the death of a Participant, the Corporation shall deliver such shares and/or cash payable pursuant to the terms hereof to the
executor or administrator of the estate of the Participant, or if no such executor or administrator has been appointed (to the knowledge of the Corporation), the Corporation, in its sole discretion, may deliver such shares and/or cash to the spouse
or to any one or more dependents or relatives of the Participant, or if no spouse, dependent or relative is known to the Corporation, then to such other person as the Corporation may designate. 

 

	14.	 TRANSFERABILITY 



Neither Contributions credited to a Participant’s Account nor any Options or rights with respect to the exercise of Options or right to
receive shares under this Plan may be anticipated, alienated, encumbered, assigned, transferred, pledged or otherwise disposed of in any way (other than by will, the laws of descent and distribution, or as provided in Section 13) by the
Participant. Any such attempt at anticipation, alienation, encumbrance, assignment, transfer, pledge or other disposition shall be without effect and all amounts shall be paid and all shares shall be delivered in accordance with the provisions of
this Plan. Amounts payable or shares deliverable pursuant to this Plan shall be paid or delivered only to (or credited in the name of, as the case may be) the Participant or, in the event of the Participant’s death, as provided in
Section 13. 
 The Corporation may require a Participant to hold any shares the Participant acquires under this Plan in a brokerage
account identified by the Corporation until the date the shares are transferred, sold or otherwise disposed of in any way by the Participant, or such earlier time as the Corporation may determine. 

 

	15.	 USE OF FUNDS; INTEREST 



All Contributions received or held by the Corporation under this Plan will be included in the general assets of the Corporation and may be used
for any corporate purpose. Notwithstanding anything else contained herein to the contrary, no interest will be paid to any Participant or credited to his or her Account under this Plan (in respect of Account balances, refunds of Account balances, or
otherwise). 

  
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	16.	 REPORTS 



Statements shall be provided or made available (in writing or electronically) to Participants as soon as administratively practicable following
each Exercise Date. Each Participant’s statement shall set forth, as of such Exercise Date, that Participant’s Account balance immediately prior to the exercise of his or her Option, the Option Price, the number of whole shares purchased
and his or her remaining Account balance, if any. 
  

	17.	 ADJUSTMENTS OF AND CHANGES IN THE STOCK 



Upon or in contemplation of any reclassification, recapitalization, stock split (including a stock split in the form of a stock dividend), or
reverse stock split; any merger, combination, consolidation, or other reorganization; split-up, spin-off, or any similar extraordinary dividend distribution in respect
of the Common Stock (whether in the form of securities or property); any exchange of Common Stock or other securities of the Corporation, or any similar, unusual or extraordinary corporate transaction in respect of the Common Stock; or a sale of
substantially all the assets of the Corporation as an entirety occurs; then the Committee shall, in such manner, to such extent (if any) and at such time as it deems appropriate and equitable in the circumstances: 

 

	 	(a)	 proportionately adjust any or all of (i) the number and type of shares of Common Stock or the number and
type of other securities that thereafter may be made the subject of Options (including the specific maxima and numbers of shares set forth elsewhere in this Plan), (ii) the number, amount and type of shares (or other securities or property) subject
to any or all outstanding Options, (iii) the Option Price of any or all outstanding Options, or (iv) the securities, cash or other property deliverable upon exercise of any outstanding Options, in each case to the extent necessary to
preserve (but not increase) the level of incentives intended by this Plan and the then-outstanding Options; or 


  

	 	(b)	 make provision for a cash payment in settlement of, or for the substitution or exchange of, any or all
outstanding Options or the cash, securities or property deliverable to the holder of any or all outstanding Options based upon the distribution or consideration payable to holders of the Common Stock upon or in respect of such event.



 The Committee may adopt such valuation methodologies for outstanding Options as it deems reasonable in the event of a
cash or property settlement and, without limitation on other methodologies, may base such settlement solely upon the excess (if any) of the amount payable upon or in respect of such event over the Option Price of the Option. 

In any of such events, the Committee may take such action sufficiently prior to such event to the extent that the Committee deems the action
necessary to permit the Participant to realize the benefits intended to be conveyed with respect to the underlying shares in the same manner as is or will be available to stockholders generally. 

Without limiting the generality of Section 12, any good faith determination by the Committee as to whether an adjustment is required in
the circumstances pursuant to this Section 17, and the extent and nature of any such adjustment, shall be conclusive and binding on all persons. 

  
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	18.	 POSSIBLE EARLY TERMINATION OF PLAN AND OPTIONS 



Upon a dissolution or liquidation of the Corporation, or any other event described in Section 17 that the Corporation does not survive, or
does not survive as a publicly-traded company in respect of its Shares, subject to any provision that has been expressly made by the Board for the survival, substitution, assumption, exchange or other settlement of the Options that are then
outstanding under the Plan, each Offering Period then in progress shall be shortened and a new Exercise Date shall be established by the Board or the Committee (the “New Exercise Date”), as of which date the Plan and any Offering
Period then in progress shall terminate and all then-outstanding Options under this Plan shall be automatically exercised in accordance with the terms hereof; provided, however, that the New Exercise Date shall not be more than ten (10) days
before the date of the consummation of such dissolution, liquidation or other event. The Option Price on the New Exercise Date shall be determined as provided in Section 8(b), and the New Exercise Date shall be treated as the “Exercise
Date” for purposes of determining such Option Price. 
  

	19.	 TERM OF PLAN; AMENDMENT OR TERMINATION 



 

	 	(a)	 Effective Date; Termination. This Plan shall become effective as of the Effective Date. No new Offering
Periods shall commence on or after the tenth (10th) anniversary of the Effective Date, and this Plan shall terminate as of the Exercise Date on or immediately following such date unless sooner
terminated pursuant to Section 4, Section 18 or this Section 19. 


  

	 	(b)	 Board Amendment Authority. The Board may, at any time, terminate or, from time to time, amend, modify or
suspend this Plan, in whole or in part, without notice. Stockholder approval for any amendment or modification shall not be required, except to the extent required by law or applicable stock exchange rules, or required under Section 423 of the
Code in order to preserve the intended tax consequences of this Plan. No Options may be granted during any suspension of this Plan or after the termination of this Plan, but the Committee will retain jurisdiction as to Options then outstanding in
accordance with the terms of this Plan. No amendment, modification, or termination pursuant to this Section 19(b) shall, without written consent of the Participant, affect in any manner materially adverse to the Participant any rights or
benefits of such Participant or obligations of the Corporation under any Option granted under this Plan prior to the effective date of such change. Changes contemplated by Section 17 or Section 18 shall not be deemed to constitute changes
or amendments requiring Participant consent. Notwithstanding the foregoing, the Committee shall have the right to designate from time to time the Subsidiaries whose employees may be eligible to participate in this Plan (including, without
limitation, any Subsidiary that may become such after the Effective Date) and to change the service and other qualification requirements set forth under the definition of Eligible Employee in Section 2 (subject to the requirements of
Section 423(b) of the Code and applicable rules and regulations thereunder). Any such change shall not take effect earlier than the first Offering Period that starts on or after the effective date of such change. Any such change shall not
constitute an amendment to this Plan requiring stockholder approval. 



  
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	20.	 NOTICES 



All notices or other communications by a Participant to the Corporation contemplated by this Plan shall be deemed to have been duly given when
received in the form and manner specified by the Committee (or its delegate) at the location, or by the person, designated by the Committee (or its delegate) for that purpose. 

 

	21.	 CONDITIONS UPON ISSUANCE OF SHARES 



This Plan, the granting of Options under this Plan and the offer, issuance and delivery of shares of Common Stock are subject to compliance
with all applicable federal and state laws, rules and regulations (including but not limited to state and federal securities laws) and to such approvals by any listing, regulatory or governmental authority as may, in the opinion of counsel for the
Corporation, be necessary or advisable in connection therewith. The person acquiring any securities under this Plan will, if requested by the Corporation and as a condition precedent to the exercise of his or her Option, provide such assurances and
representations to the Corporation as the Committee may deem necessary or desirable to assure compliance with all applicable legal and accounting requirements. 
  

	22.	 PLAN CONSTRUCTION 



 

	 	(a)	 Section 16. It is the intent of the Corporation that transactions involving Options
under this Plan (other than “Discretionary Transactions” as that term is defined in Rule 16b-3(b)(1) promulgated by the Commission under Section 16 of the Exchange Act, to the extent there are
any Discretionary Transactions under this Plan), in the case of Participants who are or may be subject to the prohibitions of Section 16 of the Exchange Act, satisfy the requirements for exemption under Rule
16b-3(c) promulgated by the Commission under Section 16 of the Exchange Act to the maximum extent possible. Notwithstanding the foregoing, the Corporation shall have no liability to any Participant for
Section 16 consequences of Options or other events with respect to this Plan. 


  

	 	(b)	 Section 423. Except as the Committee may expressly provide in the case of one or more
separate offerings or sub-plans adopted pursuant to Section 12(b), this Plan and Options are intended to qualify under Section 423 of the Code. 



 

	 	(c)	 Interpretation. If any provision of this Plan or of any Option would otherwise frustrate or conflict
with the intents expressed above, that provision to the extent possible shall be interpreted so as to avoid such conflict. If the conflict remains irreconcilable, the Committee may disregard the provision if it concludes that to do so furthers the
interest of the Corporation and is consistent with the purposes of this Plan as to such persons in the circumstances. 



  
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	23.	 EMPLOYEES’ RIGHTS 



 

	 	(a)	 No Employment Rights. Nothing in this Plan (or in any Subscription Agreement or other document related
to this Plan) will confer upon any Eligible Employee or Participant any right to continue in the employ or other service of the Corporation or any Subsidiary, constitute any contract or agreement of employment or other service or effect an
employee’s status as an employee at will, nor shall interfere in any way with the right of the Corporation or any Subsidiary to change such person’s compensation or other benefits or to terminate his or her employment or other service,
with or without cause. Nothing contained in this Section 23(a), however, is intended to adversely affect any express independent right of any such person under a separate employment or service contract other than a Subscription Agreement.



  

	 	(b)	 No Rights to Assets of the Corporation. No Participant or other person will have any right, title or
interest in any fund or in any specific asset (including shares of Common Stock) of the Corporation or any Subsidiary by reason of any Option hereunder. Neither the provisions of this Plan (or of any Subscription Agreement or other document related
to this Plan), nor the creation or adoption of this Plan, nor any action taken pursuant to the provisions of this Plan will create, or be construed to create, a trust of any kind or a fiduciary relationship between the Corporation or any Subsidiary,
on the one hand, and any Participant or other person, on the other hand. To the extent that a Participant or other person acquires a right to receive payment pursuant to this Plan, such right will be no greater than the right of any unsecured
general creditor of the Corporation. No special or separate reserve, fund or deposit will be made to assure any such payment. 


  

	 	(c)	 No Stockholder Rights. A Participant will not be entitled to any privilege of stock ownership as to any
Shares not actually delivered to and held of record by the Participant. Except as expressly required by Section 17, no adjustment will be made for dividends or other rights as a stockholder for which a record date is prior to such date of
delivery. 


  

	24.	 MISCELLANEOUS 



 

	 	(a)	 Governing Law; Severability. This Plan, the Options, Subscription Agreements, and other documents
related to this Plan shall be governed by, and construed in accordance with, the laws of the State of Delaware. If any provision shall be held by a court of competent jurisdiction to be invalid and unenforceable, the remaining provisions of this
Plan shall continue in effect. 


  

	 	(b)	 Captions and Headings. Captions and headings are given to the sections of this Plan solely as a
convenience to facilitate reference. Such captions and headings shall not be deemed in any way material or relevant to the construction of interpretation of this Plan or any provision hereof. 



  
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	 	(c)	 No Effect on Other Plans or Corporate Authority. The adoption of this Plan shall not affect any other
Corporation or Subsidiary compensation or incentive plans in effect. Nothing in this Plan will limit or be deemed to limit the authority of the Board or Committee (i) to establish any other forms of incentives or compensation for employees of
the Corporation or any Subsidiary (with or without reference to the Common Stock), or (ii) to grant or assume options (outside the scope of and in addition to those contemplated by this Plan) in connection with any proper corporate purpose; to
the extent consistent with any other plan or authority. 


  

	 	(d)	 No Effect on Other Compensation. Benefits received by a Participant under an Option granted pursuant to
this Plan shall not be deemed a part of the Participant’s compensation for purposes of the determination of benefits under any other employee welfare or benefit plans or arrangements, if any, provided by the Corporation or any Subsidiary,
except where the Committee or the Board (or the Board of Directors of the Subsidiary that sponsors such plan or arrangement, as applicable) expressly otherwise provides in writing. 



 

	25.	 STOCKHOLDER APPROVAL 



Notwithstanding anything else contained herein to the contrary, the effectiveness of this Plan is subject to the approval of this Plan by the
stockholders of the Corporation within twelve months after the Effective Date. No Shares shall be issued or delivered under this Plan until such stockholder approval is obtained and, if such stockholder approval is not obtained within such
twelve-month period of time, all Contributions credited to a Participant’s Account hereunder shall be refunded to such Participant (without interest) as soon as practicable after the end of such twelve-month period. 

 

	26.	 TAX WITHHOLDING 



Notwithstanding anything else contained herein to the contrary, the Corporation may deduct from a Participant’s Account balance as of an
Exercise Date, before the exercise of the Participant’s Option is given effect on such date, the amount of any taxes which the Corporation reasonably determines it or any Subsidiary may be required to withhold with respect to such exercise. In
such event, the maximum number of whole shares of Common Stock subject to such Option (subject to the other limits set forth in this Plan) shall be purchased at the Option Price with the balance of the Participant’s Account (after reduction for
the tax withholding amount). 
 Should the Corporation for any reason be unable, or elect not to, satisfy its or any Subsidiary’s tax
withholding obligations in the manner described in the preceding paragraph with respect to a Participant’s exercise of an Option, or should the Corporation or any Subsidiary reasonably determine that it or an affiliated entity has a tax
withholding obligation with respect to a disposition of shares acquired pursuant to the exercise of an Option prior to satisfaction of the holding period requirements of Section 423 of the Code or at any other time in respect of a
Participant’s participation in this Plan, the Corporation or Subsidiary, as the case may be, shall have the right at its option to (i) require the Participant to pay or provide for payment of the amount of any taxes which the


  
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Corporation or Subsidiary reasonably determines that it or any affiliate is required to withhold with respect to such event or (ii) deduct from the Participant’s Account or from any
amount otherwise payable to or for the account of the Participant the amount of any taxes which the Corporation or Subsidiary reasonably determines that it or an affiliate is required to withhold with respect to such event. 

 

	27.	 NOTICE OF SALE 



Any person who has acquired shares under this Plan shall give prompt written notice to the Corporation of any sale or other transfer of the
shares if such sale or transfer occurs (1) within the two-year period after the Grant Date of the Offering Period with respect to which such shares were acquired, or (2) within the twelve-month
period after the Exercise Date of the Offering Period with respect to which such shares were acquired. 

  
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