Document:

EX-10.14

 Exhibit 10.14 

 

OSCAR HEALTH, INC. 

2021 INCENTIVE AWARD PLAN 

PERFORMANCE-BASED RESTRICTED STOCK UNIT GRANT NOTICE 

Oscar Health, Inc., a Delaware corporation (the “Company”), has granted to the participant listed below
(“Participant”) the performance-based Restricted Stock Units (the “PSUs”) described in this Performance-Based Restricted Stock Unit Grant Notice (this “Grant Notice”), subject
to the terms and conditions of the Oscar Health, Inc. 2021 Incentive Award Plan (as amended from time to time, the “Plan”) and the Performance-Based Restricted Stock Unit Agreement attached hereto as Exhibit A, the
Vesting Schedule attached as Exhibit B (Exhibits A and B, collectively, the “Agreement”) and the Release attached as Exhibit C, both of which are incorporated into this Grant Notice by reference. Capitalized
terms not specifically defined in this Grant Notice or the Agreement have the meanings given to them in the Plan. 
  

			
	Participant:	  	[Mario Schlosser / Josh Kushner]
		
	Grant Date:	  	[Effective on later of closing of IPO and date Form S-8 filed]
		
	Number of Total PSUs:	  	[4,229,853 / 2,114,926]
		
	Class of Shares:	  	Class A Common Stock
		
	Expiration Date	  	[Seventh anniversary of IPO closing date]
		
	Vesting Schedule:	  	Exhibit B

 By accepting (whether in writing, electronically or otherwise) the PSUs, Participant agrees to be bound
by the terms of this Grant Notice, the Plan and the Agreement. Participant has reviewed the Plan, this Grant Notice and the Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Grant Notice and
fully understands all provisions of the Plan, this Grant Notice and the Agreement. Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions arising under the Plan,
this Grant Notice or the Agreement. 
  

							
	OSCAR HEALTH, INC. 	  		  	PARTICIPANT
				
	By:	 	  
	  		  	  

				
	Name:	 	  
	  		  	[Mario Schlosser / Josh Kushner]
				
	Title:	 	  
	  		  	

 Exhibit A 

PERFORMANCE-BASED RESTRICTED STOCK UNIT AGREEMENT 

WHEREAS, the Company has granted the PSUs to Participant effective as of the Grant Date set forth in the Grant Notice (the “Grant
Date”); 
 WHEREAS, in connection therewith, the parties desire to enter into this Performance-Based Restricted Stock Unit
Agreement (this “Agreement”); and 
 WHEREAS, the Company and Participant expect that Participant will not be
eligible to receive a Company long-term incentive or equity-based compensatory award prior to calendar year 2028 or, if earlier, a Change in Control. 

NOW, THEREFORE, the Company and Participant hereby agree as follows: 

ARTICLE I. 
 GENERAL

 1.1    Award of PSUs. Notwithstanding Section 9.9 of the Plan, each PSU represents the right to
receive one Share, as set forth in this Agreement. Participant will have no right to the distribution of any Shares until the time (if ever) the PSUs have vested. 

1.2    Incorporation of Terms of Plan. The PSUs are subject to the terms and conditions set forth in this Agreement
and the Plan, which is incorporated herein by reference. 
 1.3    Unsecured Promise. The PSUs will at all times
prior to settlement represent an unsecured Company obligation payable only from the Company’s general assets. 

1.4    Definitions. Capitalized terms not specifically defined in this Agreement have the meanings specified in the
Grant Notice or in the Plan. In addition, the following defined terms shall apply: 

(a)    “Cause” means the occurrence of any one or more of the following events: 

(i)    Participant’s willful failure to substantially perform Participant’s duties with the Company (other than
any such failure resulting from Participant’s incapacity due to physical or mental illness or any such actual or anticipated failure after Participant’s issuance of a Notice of Termination for Good Reason), including Participant’s
willful failure to follow any reasonable and lawful directive from the Board within the reasonable scope of Participant’s duties. For the avoidance of doubt, Participant’s failure to satisfy any specific performance goal or metric or the
Company’s failure to attain any specific level of financial performance shall not constitute a failure to perform for purposes of this clause (i); 

(ii)    Participant’s commission of or entry of a plea of guilty or nolo contendere to a felony crime
(excluding vehicular crimes) or a crime of moral turpitude; 
 (iii)    Participant’s material breach of any
material obligation under any written agreement with the Company or its affiliates or under any applicable policy of the Company or its affiliates that has been provided to or made available to Participant (including any code of conduct or
harassment policies), and Participant’s failure to correct the same (if capable of correction, as determined by the Board), within 30 days after a written notice is delivered to Participant, which demand specifically identifies the manner in
which the Board believes that Participant has materially breached such agreement; 

 (iv)    any act of fraud, embezzlement, theft or misappropriation from
the Company or its affiliates by Participant; or 
 (v)    Participant’s willful misconduct or gross negligence
with respect to any material aspect of the Company’s business or a material breach by Participant of Participant’s fiduciary duty to the Company or its affiliates, which willful misconduct, gross negligence or material breach has a
material and demonstrable adverse effect on the Company or its Subsidiaries. 
 Notwithstanding the foregoing, except with respect to clause (ii),
Participant’s Service will not be terminated for Cause unless and until (1) the Company provides Participant with written notice setting forth the facts and circumstances claimed by the Company to constitute Cause, and (2) Participant
fails to cure or remedy such acts or omissions within 10 business days following his receipt of such notice; provided, however that with respect to clause (i), the Board shall specifically identify the manner in which the Board believes that
Participant has not performed Participant’s duties, and Participant’s cure period shall be 30 (rather than 10 business) days. Further, no act or failure to act on Participant’s part shall be considered “willful” unless the
Company reasonably and in good faith determines it is done, or omitted to be done, in bad faith or without reasonable belief that Participant’s act or omission was in the best interests of the Company. Without limitation, any act, or failure to
act, based upon express authority given pursuant to a resolution duly adopted by the Board with respect to such act or omission, or based upon the advice of legal counsel for the Company, shall be conclusively presumed to be done, or omitted to be
done, by Participant in good faith and in the best interests of the Company.     

(b)    “Disability” means a permanent and total disability under Code Section 22(e)(3). 

(c)    “Good Reason” means the occurrence of any one or more of the following events without
Participant’s prior written consent, unless the Company fully corrects the circumstances constituting Good Reason (provided such circumstances are capable of correction) as provided below: 

(i)    [a material diminution in Participant’s base salary or target bonus, other than as part of an across-the-board reduction applicable to the Company’s senior executives, and further excluding any voluntary reductions in base salary and/or target bonus;]1 
 (ii)    a change in the geographic location of Participant’s
principal work location with the Company by more than 35 miles from its existing location; 
 (iii)    a material
diminution in Participant’s title, authority or duties, but excluding [a change due to Participant ceasing to serve as the Vice Chairman of the Company but continuing to serve as a member of the Board or]2 any isolated, insubstantial or inadvertent actions not taken in bad faith and which are remedied by the Company within 30 days after receipt of notice thereof given by Participant; or 

(iv)    the Company’s material breach of this Agreement. 

Notwithstanding the foregoing, Participant will not be deemed to have resigned for Good Reason unless (1) Participant provides the Company with written
notice setting forth in reasonable detail the facts and circumstances claimed by Participant to constitute Good Reason within 45 days after the date of the occurrence of any event that Participant knows or should reasonably have known to constitute
Good 
  
  

	1 	 NTD: Not to be included for Josh. 

	2 	 NTD: Include for Josh. 

  
 A-2 

 
Reason, (2) the Company fails to cure such acts or omissions within 30 days following its receipt of such notice, and (3) the effective date of Participant’s termination for Good
Reason occurs no later than 60 days after the expiration of the Company’s cure period. 
 (d)    “Notice
of Termination” means a written notice which (i) indicates the specific termination provision in this Agreement relied upon, (ii) sets forth in reasonable detail the facts and circumstances claimed to provide a basis for
termination of Participant’s Service under the provision so indicated and (iii) if Participant’s termination date is other than the date of receipt of such notice, specifies the termination date. 

(e)    “Qualifying Termination” means a termination of Participant’s Service either by the
Company without Cause, by Participant for Good Reason or due to Participant’s death or Disability. 

(f)    “Service” means Participant’s employment or service with the Company as an employee or
as a member of the Board, or in any other similar role as determined by the Administrator in its sole discretion. 
 ARTICLE II. 

VESTING; FORFEITURE AND SETTLEMENT 

2.1    General Vesting; Forfeiture. The PSUs will vest in connection with the achievement of Price Per Share Goals
as defined in and as set forth in Exhibit B, subject to Participant’s continued Service with the Company or its Affiliates through the applicable Vesting Date(s) (as defined in Exhibit B), except to the extent provided
in Sections 2.2 and 2.3 below. Any PSUs that remain outstanding and unvested as of the close of business on the Expiration Date automatically will be forfeited and terminated at the close of business on the Expiration Date. 

2.2    Change in Control. If (i) a Change in Control occurs, (ii) Participant remains in continued
Service until at least immediately prior to the Change in Control or Participant previously experienced a Qualifying Termination, and (iii) some or all PSUs remain outstanding as of immediately prior to such Change in Control, then (x) any
PSUs that are Initial Earned PSUs or Time and Performance Earned PSUs (collectively, “Earned PSUs”) shall vest as of immediately prior to such Change in Control and (y) the treatment of any remaining PSUs shall be
determined as set forth below. 
 (a)    If a Price Per Share Goal is achieved based on the CIC Price (as defined in
Exhibit B) (or, with respect to a Non-Transactional Change in Control, based on the Price Per Share as of the Change in Control date), then the PSUs that are eligible to become Earned PSUs as a result
of achieving such Price Per Share Goal (determined without regard to whether the Change in Control date occurs within the Performance Period or any Measurement Period, each as defined in Exhibit B) shall vest as of immediately
prior to the closing of such Change in Control. In addition, if the CIC Price (or, with respect to a Non-Transactional Change in Control, the Price Per Share as of the Change in Control date) falls between two
Price Per Share Goals, then an additional number of PSUs shall become Earned PSUs and vest immediately prior to the closing of such Change in Control equal to a number of PSUs determined using straight line interpolation between the Price Per Share
Goals between which such price falls. Notwithstanding the generality of the foregoing, in the event that a Price Per Share Goal was achieved prior to the Change in Control, no additional PSUs shall become vested pursuant to the first sentence of
this Section 2.2(a) with respect to such Price Per Share Goal. 
 (b)    Notwithstanding anything to the contrary
contained in Section 8.3 of the Plan, if, following the application of Sections 2.2(a), any PSUs would otherwise remain outstanding and unvested after the Change in Control occurs, then such PSUs automatically will be forfeited and terminated
as of immediately prior to such Change in Control without consideration therefor. 

  
 A-3 

 2.3    Termination of Service. 

(a)    If Participant experiences a Qualifying Termination, then (i) any PSUs that are Earned PSUs as of such
Qualifying Termination shall vest as of the termination date and (ii) any PSUs that are not Earned PSUs as of such Qualifying Termination shall remain outstanding and eligible to vest upon the achievement of the Price Per Share Goals set forth
on Exhibit B (i.e., on the date on which the applicable Price Per Share Goal is achieved) or pursuant to Section 2.2(a). Such PSUs shall remain outstanding and eligible to vest until the earliest to occur of (i) the Expiration Date,
(ii) a Change in Control and (iii) the 24-month anniversary of such termination of Service (such earliest date, the “Qualifying Termination End Date”). Notwithstanding the
generality of the foregoing, in the event that a Price Per Share Goal was achieved prior to a Qualifying Termination, no additional PSUs shall become vested with respect to such Price Per Share Goal pursuant to the preceding sentence if such Price
Per Share Goal again is achieved during the period between and (including) the date of the Qualifying Termination and the Qualifying Termination End Date. To the extent any PSUs have not become vested on or prior to the Qualifying Termination End
Date, such PSUs automatically will be forfeited and terminated as of the Qualifying Termination End Date without consideration therefor. 

(b)    The treatment set forth in Section 2.3(a) is subject to and conditioned upon Participant’s (or
Participant’s estate’s) timely execution, delivery and non-revocation of a general release of claims in the form attached hereto as Exhibit C (the “Release”). The
Release shall be delivered to Participant (or Participant’s estate’s) within five business days following the termination date, and Participant shall have 21 days thereafter (or 45 days, if necessary to comply with Applicable Law) to
execute and deliver the Release to the Company. The Company may update the Release attached hereto to the extent necessary to reflect changes in law. 

(c)    If Participant experiences a termination of Service for any reason other than a Qualifying Termination, all PSUs
that have not become vested on or prior to the date of such termination of Service (including any Earned PSUs) automatically will be forfeited and terminated as of the termination date without consideration therefor. 

2.4    Settlement. 

(a)    The PSUs will be paid in Shares as soon as practicable and in any event within 30 days after the vesting date of the
applicable PSU, as determined pursuant to Section 2.2(a) or 2.3(a) or Exhibit B. 
 (b)    Notwithstanding
the foregoing, the Company may delay any payment under this Agreement that the Company reasonably determines would violate Applicable Law until the earliest date the Company reasonably determines the making of the payment will not cause such a
violation (in accordance with Treasury Regulation Section 1.409A-2(b)(7)(ii)); provided the Company reasonably believes the delay will not result in the imposition of excise taxes under Section 409A.

 ARTICLE III. 

TAXATION AND TAX WITHHOLDING 

3.1    Representation. Participant represents to the Company that Participant has reviewed with Participant’s
own tax advisors the tax consequences of this award of PSUs (the “Award”) and the transactions contemplated by the Grant Notice and this Agreement. Participant is relying solely on such advisors and not on any statements or
representations of the Company or any of its agents. 

  
 A-4 

 3.2    Tax Withholding. 

(a)    Payment of the withholding tax obligations with respect to the Award shall be by any of the following, or a
combination thereof, as determined by the Participant: 
 (i)    Cash or check; 

(ii)    Subject to Section 10.17 of the Plan, delivery (including electronically or telephonically to the extent
permitted by the Company) by Participant to the Company of a copy of irrevocable and unconditional instructions to a broker acceptable to the Company that Participant has placed a market sell order with such broker with respect to Shares
then-issuable upon settlement of the Award, and that the broker has been directed to deliver promptly to the Company funds sufficient to satisfy the applicable tax withholding obligations; provided, that payment of such proceeds is then made to the
Company at such time as may be required by the Administrator; or 
 (iii)    Subject to the consent of the
Administrator as determined in its sole discretion which shall not be unreasonably withheld, the Company may withhold, or cause to be withheld, Shares otherwise vesting or issuable under this Award in satisfaction of any applicable withholding tax
obligation. The number of Shares which may be so withheld shall be such number of Shares which have a Fair Market Value on the date of withholding equal to the aggregate amount of such liabilities based on the maximum individual statutory
withholding rates in Participant’s applicable jurisdictions for federal, state, local and foreign income tax and payroll tax purposes that are applicable to such taxable income. 

(b)    Participant acknowledges that Participant is ultimately liable and responsible for all taxes owed in connection
with the PSUs, regardless of any action the Company or any Subsidiary takes with respect to any tax withholding obligations that arise in connection with the PSUs. Neither the Company nor any Subsidiary makes any representation or undertaking
regarding the treatment of any tax withholding in connection with the awarding, vesting or payment of the PSUs or the subsequent sale of Shares. The Company and its Subsidiaries do not commit and are under no obligation to structure the PSUs to
reduce or eliminate Participant’s tax liability. 
 ARTICLE IV. 

OTHER PROVISIONS 

4.1    Adjustments. Participant acknowledges that the PSUs, the Shares subject to the PSUs and Price Per Share
Goals are subject to adjustment, modification and termination in certain events as provided in this Agreement and the Plan. For purposes of clarity, in connection with an Equity Restructuring the Price Per Share Goals shall be subject to
Section 8.1 of the Plan. 
 4.2    Clawback. Notwithstanding Section 10.13 of the Plan, the Award and
the Shares issuable hereunder shall be subject to (i) any Company clawback or recoupment policy required in order to comply with Applicable Law, including the Dodd-Frank Wall Street Reform and Consumer Protection Act and any rules or
regulations promulgated thereunder and (ii) any reasonable and customary Company clawback or recoupment policy approved by the Company’s Board which applies to the senior executives of the Company and which Participant has a reasonable
amount of time to consider and comment on. The Company and Participant acknowledge that neither this Section 4.2 nor Section 10.13 of the Plan are intended to limit any clawback and/or disgorgement of the Award and/or the Shares issuable
hereunder pursuant to Section 304 of the Sarbanes-Oxley Act of 2002. 

  
 A-5 

 4.3    Notices. Any notice to be given under the terms of this
Agreement to the Company must be in writing and addressed to the Company in care of the Company’s General Counsel at the Company’s principal office or the General Counsel’s then-current email address or facsimile number. Any notice to
be given under the terms of this Agreement to Participant must be in writing and addressed to Participant (or, if Participant is then deceased, to the Designated Beneficiary) at Participant’s last known mailing address, email address or
facsimile number in the Company’s personnel files. By a notice given pursuant to this Section, either party may designate a different address for notices to be given to that party. Any notice will be deemed duly given when actually received,
when sent by email, when sent by certified mail (return receipt requested) and deposited with postage prepaid in a post office or branch post office regularly maintained by the United States Postal Service, when delivered by a nationally recognized
express shipping company or upon receipt of a facsimile transmission confirmation. 
 4.4    Titles. Titles are
provided herein for convenience only and are not to serve as a basis for interpretation or construction of this Agreement. 

4.5    Conformity to Securities Laws. Participant acknowledges that the Plan, the Grant Notice and this Agreement
are intended to conform to the extent necessary with all Applicable Laws and, to the extent Applicable Laws permit, will be deemed amended as necessary to conform to Applicable Laws. 

4.6    Successors and Assigns. The Company may assign any of its rights under this Agreement to a single or
multiple assignees, and this Agreement will inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth in this Agreement or the Plan, this Agreement will be binding upon and inure to the
benefit of the heirs, legatees, legal representatives, successors and assigns of the parties hereto. 

4.7    Limitations Applicable to Section 16 Persons. Notwithstanding any other provision of the
Plan or this Agreement, if Participant is subject to Section 16 of the Exchange Act, the Plan, the Grant Notice, this Agreement and the PSUs will be subject to any additional limitations set forth in any applicable exemptive rule under
Section 16 of the Exchange Act (including any amendment to Rule 16b-3) that are requirements for the application of such exemptive rule. To the extent Applicable Laws permit, this Agreement will be deemed
amended as necessary to conform to such applicable exemptive rule. 

4.8    Non-Disparagement. During Participant’s Service and thereafter,
the Company and Participant agree that each party (which, with respect to the Company, shall refer to its officers and directors) will not, at any time, make, directly or indirectly, any oral or written statements that are disparaging of the other
party, the products or services, or in the case of Participant, any of the Company’s present or former officers, equity holders, directors or employees; provided that either party may confer in confidence with his or her or its legal
representatives and make demonstrably true statements. 
 4.9    Entire Agreement; Amendment. The Plan,
the Grant Notice and this Agreement (including any exhibit hereto) constitute the entire agreement of the parties and supersede in their entirety all prior undertakings and agreements of the Company and Participant with respect to the subject matter
hereof. To the extent permitted by the Plan, this Agreement may be wholly or partially amended or otherwise modified, suspended or terminated at any time or from time to time by the Administrator or the Board; provided, however, that except as may
otherwise be provided by the Plan, no amendment, modification, suspension or termination of this Agreement shall materially and adversely affect the PSUs without the prior written consent of Participant. 

4.10    Agreement Severable. In the event that any provision of the Grant Notice or this Agreement is held illegal
or invalid, the provision will be severable from, and the illegality or invalidity of the provision will not be construed to have any effect on, the remaining provisions of the Grant Notice or this Agreement. 

  
 A-6 

 4.11    Limitation on Participant’s Rights. Participation in
the Plan confers no rights or interests other than as herein provided. This Agreement creates only a contractual obligation on the part of the Company as to amounts payable and may not be construed as creating a trust. Neither the Plan nor any
underlying program, in and of itself, has any assets. Participant will have only the rights of a general unsecured creditor of the Company with respect to amounts credited and benefits payable, if any, with respect to the PSUs, and rights no greater
than the right to receive cash or the Shares as a general unsecured creditor with respect to the PSUs, as and when settled pursuant to the terms of this Agreement. 

4.12    Not a Contract of Service. Nothing in the Plan, the Grant Notice or this Agreement confers upon Participant
any right to continue in the employ or service of the Company or any Subsidiary or interferes with or restricts in any way the rights of the Company and its Subsidiaries, which rights are hereby expressly reserved, to discharge or terminate the
services of Participant at any time for any reason whatsoever, with or without cause, except to the extent expressly provided otherwise in a written agreement between the Company or a Subsidiary and Participant. 

4.13    Counterparts. The Grant Notice may be executed in one or more counterparts, including by way of any
electronic signature, subject to Applicable Law, each of which will be deemed an original and all of which together will constitute one instrument. 

*  *  *  *  * 

  
 A-7 

 Exhibit B 

EARNED PSUS; VESTING SCHEDULE 

Initial Earned PSUs 
 50% of the
PSUs ([4,229,853 / 2,114,926] PSUs) will be eligible to become “Initial Earned PSUs” based on the achievement of Price Per Share Goals set forth in the table below during the Performance Period, subject to certification by
the Administrator that the applicable Price Per Share Goal has been achieved (provided that (i) such certification shall occur within two business days following the achievement date and shall not be unreasonably withheld and (ii) no such
certification shall be required in the event one or more Price Per Share Goals are achieved as a result of the occurrence of a Change in Control other than a Non-Transactional Change in Control). 

 

							
	 Vesting Tranche
	  	Price Per Share Goal	 	  	Number of Earned PSUs
	 “First Vesting Tranche”
	  	$	90.00	 	  	[422,985 / 211,492]
	 “Second Vesting Tranche”
	  	$	135.00	 	  	[422,985 / 211,492]
	 “Third Vesting Tranche”
	  	$	180.00	 	  	[422,985 / 211,493]
	 “Fourth Vesting Tranche”
	  	$	225.00	 	  	[422,986 / 211,493]
	 “Fifth Vesting Tranche”
	  	$	270.00	 	  	[422,985 / 211,493]

 For the avoidance of doubt, each Price Per Share Goal for an Initial Earned PSU may be achieved only once
during the Performance Period and more than one Price Per Share Goal may be achieved on a particular date. For example, if the first Price Per Share Goal of $90.00 per share is determined by the Administrator to have been satisfied on
January 1, 2025, the Price Per Share thereafter drops below such level and again reaches $90.00 per share during the 180 consecutive day period ending September 30, 2025, no additional PSUs shall become Initial Earned PSUS as a result of
reaching the same Price Per Share Goal for a second time. 
 Time and Performance Earned PSUs 

50% of the PSUs ([4,229,853 / 2,114,926] PSUs) will be eligible to become “Time and Performance Earned PSUs” based on
the achievement of Price Per Share Goals set forth in the table below during the specified Measurement Period set forth in the table below or, if earlier a Change in Control, subject to certification by the Administrator that the applicable Price
Per Share Goal has been achieved (provided that (i) such certification shall occur within two business days following the achievement date and shall not be unreasonably withheld and (ii) no such certification shall be required in the event
one or more Price Per Share Goals are achieved as a result of the occurrence of a Change in Control other than a Non-Transactional Change in Control). 

											
	 Vesting Tranche
	  	 “Measurement Period”
	  	Price Per
Share
Goal	 	  	Number of
Earned
PSUs	 
	 “First Vesting Tranche”
	  	Beginning on (and including) the second anniversary of IPO Date and ending on the date on which the Price Per Share Goal is achieved	  	$	90.00	 	  	 
	[422,985 /
211,493	 
] 
	 “Second Vesting Tranche”
	  	Beginning on (and including) the third anniversary of IPO Date and ending on the date on which the Price Per Share Goal is achieved	  	$	135.00	 	  	 
	[422,986 /
211,493	 
] 
	 “Third Vesting Tranche”
	  	Beginning on (and including) the fourth anniversary of IPO Date and ending on the date on which the Price Per Share Goal is achieved	  	$	180.00	 	  	 
	[422,985 /
211,492	 
] 
	 “Fourth Vesting Tranche”
	  	Beginning on (and including) the fifth anniversary of IPO Date and ending on the date on which the Price Per Share Goal is achieved	  	$	225.00	 	  	 
	[422,985 /
211,492	 
] 
	 “Fifth Vesting Tranche”
	  	 Beginning on (and including) the sixth anniversary of IPO Date and ending on the earlier of the (i) seventh
anniversary of IPO Date and
 (ii) date on which the Price Per Share Goal is achieved
	  	$	270.00	 	  	 
	[422,986 /
211,493	 
] 

 For the avoidance of doubt, each Price Per Share Goal for a Time and Performance Earned PSU may be achieved
only once during a Measurement Period and more than one Price Per Share Goal may be achieved on a particular date. For example, if the first Price Per Share Goal of $90.00 per share is determined by the Administrator to have been satisfied on
January 1, 2025, the Price Per Share thereafter drops below such level and again reaches $90.00 per share during the 180 consecutive day period ending September 30, 2025, no additional PSUs shall become Time and Performance Earned PSUS as a result
of reaching the same Price Per Share Goal for a second time. 
 Vesting of Earned PSUs 

Except as otherwise provided in Section 2.2 or 2.3 of the Agreement, with respect to any PSUs that become Earned PSUs (i.e., either Initial
Earned PSUs or Time and Performance Earned PSUs), such Earned PSUs shall vest on the applicable “Vesting Date” set forth in the table below based on such Earned PSUs’ Vesting Tranche or on the Expiration Date as
described in the sentence following the table, in any case, subject to Participant’s continued Service through the applicable Vesting Date. 
  

			
	 Earned PSUs’ Vesting Tranche
	  	 Vesting Date

	 First Vesting Tranche
	  	 Later of third anniversary of IPO Date and

date on which the Price Per Share Goal is achieved

	 Second Vesting Tranche
	  	 Later of fourth anniversary of IPO Date and

date on which the Price Per Share Goal is achieved

	 Third Vesting Tranche
	  	 Later of fifth anniversary of IPO Date and

date on which the Price Per Share Goal is achieved

	 Fourth Vesting Tranche
	  	 Later of sixth anniversary of IPO Date and

date on which the Price Per Share Goal is achieved

	 Fifth Vesting Tranche
	  	Seventh anniversary of IPO Date

  
 B-2 

 In addition, if the average Price Per Share during the 180 consecutive day period ending on
(and including) the Expiration Date falls between two Price Per Share Goals, then an additional number of PSUs shall become Initial Earned PSUs or Time and Performance Earned PSUs, and vest as of immediately prior to the close of business on the
Expiration Date, equal to a number of PSUs determined using straight line interpolation between the Price Per Share Goals between which such price falls (in accordance with the applicable table above). 

In no event may more than [4,229,853 / 2,114,926] PSUs vest pursuant to this Award. 

Definitions 
 “CIC
Price” means the price per share of Class A Common Stock (or, in connection with a sale or other disposition of all or substantially all of the Company’s assets, the implied price per share of Class A Common Stock) paid
by an acquiror in connection with such Change in Control or, to the extent that the consideration in the Change in Control transaction is paid in stock of the acquiror or its affiliate, then, unless otherwise determined by the Administrator, the CIC
Price shall mean the value of the consideration paid per Share based on the average of the closing trading prices of a share of such acquiror stock on the principal exchange on which such shares are then traded for each trading day during the five
consecutive trading days ending on and including the date on which a Change in Control occurs. In the event the consideration in the Change in Control takes any other form, the value of such additional consideration shall be determined by the
Administrator in its good faith reasonable discretion in a manner intended to not diminish the value of the Award to the Participant. 

“IPO Date” means the date on which the closing of the underwritten public offering of the Company’s Class A
Common Stock occurs. 
 “Performance Period” means the period beginning on (and including) the second anniversary of
the IPO Date and ending on (and including) the Expiration Date. 
 “Price Per Share” means the Class A Common
Stock’s volume-weighted average per-share price. 
 “Price Per Share
Goal” means a target Price Per Share as set forth in the table above, and that has been maintained for any 180 consecutive day period during the Performance Period or the applicable Measurement Period, beginning with the 179th day prior
to the beginning of the Performance Period or such Measurement Period, and continuing during the Performance Period or such Measurement Period; provided, however, that if a Change in Control occurs, then (i) the Price Per Share Goals shall be
evaluated without regard to whether the Performance Period or applicable Measurement Period has begun and (ii) the Price Per Share Goals shall be evaluated solely by reference to the CIC Price (other than in connection with a Change in Control
that is solely a Non-Transactional Change in Control). 
 “Vesting Tranche”
means each of the First Vesting Tranche, Second Vesting Tranche, Third Vesting Tranche, Fourth Vesting Tranche and Fifth Vesting Tranche. 

  
 B-3 

 Exhibit C 

GENERAL RELEASE 

1.    Release. For valuable consideration, the receipt and adequacy of which is hereby acknowledged, the
undersigned does hereby release and forever discharge the “Releasees” hereunder, consisting of Oscar Health, Inc., a Delaware corporation (“Company”), and the Company’s partners, subsidiaries,
associates, affiliates, successors, heirs, assigns, directors, officers and employees of and from any and all manner of action or actions, cause or causes of action, in law or in equity, suits, debts, liens, contracts, agreements, promises,
liability, claims, demands, damages, losses, costs, attorneys’ fees or expenses, of any nature whatsoever, known or unknown, fixed or contingent (hereinafter called “Claims”), which the undersigned now has or may
hereafter have against the Releasees, or any of them, by reason of any matter, cause, or thing whatsoever from the beginning of time to the date hereof. The Claims released herein include, without limiting the generality of the foregoing, any
Claims in any way arising out of, based upon, or related to the employment or service, or termination of employment or service, of the undersigned by the Releasees, or any of them; any alleged breach of any express or implied contract of employment
or service; any alleged torts or other alleged legal restrictions on Releasees’ right to terminate the employment or service of the undersigned; and any alleged violation of any federal, state or local statute or ordinance including, without
limitation, Title VII of the Civil Rights Act of 1964, the Age Discrimination In Employment Act (“ADEA”), the Americans With Disabilities Act. 

2.    Claims Not Released. Notwithstanding the foregoing, this general release (the
“Release”) shall not operate to release any rights or claims of the undersigned (i) to payments or benefits under the performance-based restricted stock unit award agreement between the undersigned and the Company (to
which this Release is attached) or as a holder of any securities of the Company, (ii) to accrued or vested benefits the undersigned may have, if any, as of the date hereof under any applicable plan, policy, practice, program, contract or
agreement with the Company, (iii) to any Claims, including claims for indemnification and/or advancement of expenses arising under any indemnification agreement between the undersigned and the Company, under any directors’ and
officers’ liability insurance policy or under the bylaws, certificate of incorporation or other similar governing document of the Company, (iv) to any Claims which cannot be waived by an employee under applicable law or (v) with
respect to the undersigned’s right to communicate directly with, cooperate with, or provide information to, any federal, state or local government regulator. [For the avoidance of doubt this Release shall also not operate to release any rights
or claims of any Thrive Party. For purposes of this Release, “Thrive Party” means each of Thrive Capital Partners II, L.P.; Thrive Capital Partners III, L.P.; Claremount TW, L.P.; Thrive Capital Partners V, L.P.;
Claremount V Associates, L.P.; Thrive Capital Partners VI Growth, L.P; Claremount VI Associates, L.P. ; Thrive Partners II GP, LLC; Thrive Partners III GP, LLC; Thrive Partners V GP and Thrive Partners VI GP, LLC.]3 
 3.    Exceptions. Notwithstanding anything in this Release
to the contrary, nothing contained in this Release shall prohibit the undersigned from (i) filing a charge with, reporting possible violations of federal law or regulation to, participating in any investigation by, or cooperating with any
governmental agency or entity or making other disclosures that are protected under the whistleblower provisions of applicable law or regulation and/or (ii) communicating directly with, cooperating with, or providing information (including trade
secrets) in confidence to, any federal, state or local government regulator (including, but not limited to, the U.S. Securities and Exchange Commission, the U.S. Commodity Futures Trading Commission, or the U.S. Department of Justice) for the
purpose of reporting or investigating a suspected violation of law, or from providing such information to the undersigned’s attorney or in a sealed complaint or other document filed in a lawsuit or other governmental proceeding. Pursuant to 18
USC Section 1833(b), (1) the undersigned will not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that is made: (x) in confidence to a federal, state, or local 

 
  

	3 	 NTD: To be included for Josh. 

  
 C-1 

 
government official, either directly or indirectly, or to an attorney, and solely for the purpose of reporting or investigating a suspected violation of law; or (y) in a complaint or other
document filed in a lawsuit or other proceeding, if such filing is made under seal and (2) the undersigned acknowledges that an individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may
disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding, if the individual files any document containing the trade secret under seal and does not disclose the trade secret, except
pursuant to court order. 
 4.    Representations. The undersigned represents and warrants that there has been no
assignment or other transfer of any interest in any Claim which the undersigned may have against Releasees, or any of them, and the undersigned agrees to indemnify and hold Releasees, and each of them, harmless from any liability, Claims, demands,
damages, costs, expenses and attorneys’ fees incurred by Releasees, or any of them, as the result of any such assignment or transfer or any rights or Claims under any such assignment or transfer. It is the intention of the parties that
this indemnity does not require payment as a condition precedent to recovery by the Releasees against the undersigned under this indemnity. 

5.    No Action. The undersigned agrees that if the undersigned hereafter commences any suit arising out of, based
upon, or relating to any of the Claims released hereunder or in any manner asserts against Releasees, or any of them, any of the Claims released hereunder, then the undersigned agrees to pay to Releasees, and each of them, in addition to any other
damages caused to Releasees thereby, all attorneys’ fees incurred by Releasees in defending or otherwise responding to said suit or Claim. Notwithstanding the foregoing, this provision shall not apply to any suit or Claim to the extent is
challenges the effectiveness of this release with respect to a claim under the ADEA. 
 6.    No Admission. The
undersigned further understands and agrees that neither the payment of any sum of money nor the execution of this Release shall constitute or be construed as an admission of any liability whatsoever by the Releasees, or any of them, who have
consistently taken the position that they have no liability whatsoever to the undersigned. 
 7.    [OWBPA. The
undersigned agrees and acknowledges that this Release constitutes a knowing and voluntary waiver and release of all Claims the undersigned has or may have against the Company and/or any of the Releasees as set forth herein, including, but not
limited to, all Claims arising under the Older Worker’s Benefit Protection Act and the ADEA. In accordance with the Older Worker’s Benefit Protection Act, the undersigned is hereby advised as follows: 

 

	 	(i)	 the undersigned has read the terms of this Release, and understands its terms and effects, including the fact
that the undersigned agreed to release and forever discharge the Company and each of the Releasees, from any Claims released in this Release; 

  

	 	(ii)	 the undersigned understands that, by entering into this Release, the undersigned does not waive any Claims that
may arise after the date of the undersigned’s execution of this Release, including without limitation any rights or claims that the undersigned may have to secure enforcement of the terms and conditions of this Release; 

 

	 	(iii)	 the undersigned has signed this Release voluntarily and knowingly in exchange for the consideration described
in this Release, which the undersigned acknowledges is adequate and satisfactory to the undersigned and which the undersigned acknowledges is in addition to any other benefits to which the undersigned is otherwise entitled; 

 

	 	(iv)	 the Company advises the undersigned to consult with an attorney prior to executing this Release;

  
 C-2 

	 	(v)	 the undersigned has been given at least [21]4 days in
which to review and consider this Release. To the extent that the undersigned chooses to sign this Release prior to the expiration of such period, the undersigned acknowledges that the undersigned has done so voluntarily, had sufficient time to
consider the Release, to consult with counsel and that the undersigned does not desire additional time and hereby waives the remainder of the [21]-day period; and 

 

	 	(vi)	 the undersigned may revoke this Release within seven days from the date the undersigned signs this Release and
this Release will become effective upon the expiration of that revocation period if the undersigned has not revoked this Release during such seven-day period. If the undersigned revokes this Release during
such seven-day period, this Release will be null and void and of no force or effect on either the Company or the undersigned and the undersigned will not be entitled to any of the payments or benefits which
are expressly conditioned upon the execution and non-revocation of this Release. Any revocation must be in writing and sent to [name], via electronic mail at [email address], on or before [5:00
p.m. Eastern time] on the seventh day after this Release is executed by the undersigned.]5 

8.    Acknowledgement. The undersigned acknowledges that different or additional facts may be discovered in
addition to what is now known or believed to be true by the undersigned with respect to the matters released in this Release, and the undersigned agrees that this Release shall be and remain in effect in all respects as a complete and final release
of the matters released, notwithstanding any different or additional facts. 
 9.    Governing Law. This Release
is deemed made and entered into in the State of New York, and in all respects shall be interpreted, enforced and governed under the internal laws of the State of New York, to the extent not preempted by federal law. 

IN WITNESS WHEREOF, the undersigned has executed this Release this      day of
                ,         . 
  

			
	
                   
 
	 	  

		 	[Mario Schlosser / Joshua Kushner]

  

	4 	 NTD: Use 45 days in a group termination, and include information regarding terminated positions.

	5 	 NTD: Include as applicable. 

  
 C-3EX-10.15

 Exhibit 10.15 

OSCAR HEALTH, INC. 
 2021
EMPLOYEE STOCK PURCHASE PLAN1 
 ARTICLE I. 

PURPOSE 
 The purposes of
this Oscar Health, Inc. 2021 Employee Stock Purchase Plan (as it may be amended or restated from time to time, the “Plan”) are to assist Eligible Employees of Oscar Health, Inc., a Delaware corporation (the
“Company”), and its Designated Subsidiaries in acquiring a stock ownership interest in the Company pursuant to a plan which is intended to qualify as an “employee stock purchase plan” within the meaning of
Section 423(b) of the Code, and to help Eligible Employees provide for their future security and to encourage them to remain in the employment of the Company and its Designated Subsidiaries. 

ARTICLE II. 
 DEFINITIONS
AND CONSTRUCTION 
 Wherever the following terms are used in the Plan they shall have the meanings specified below, unless the context
clearly indicates otherwise. The singular pronoun shall include the plural where the context so indicates. Masculine, feminine and neuter pronouns are used interchangeably and each comprehends the others. 

2.1 “Administrator” shall mean the entity that conducts the general administration of the Plan as provided in
Article XI. The term “Administrator” shall refer to the Committee unless the Board has assumed the authority for administration of the Plan as provided in Article XI. 

2.2 “Applicable Law” shall mean the requirements relating to the administration of equity incentive plans under U.S.
federal and state securities, tax and other applicable laws, rules and regulations, the applicable rules of any stock exchange or quotation system on which the Common Stock is listed or quoted and the applicable laws and rules of any foreign country
or other jurisdiction where rights under this Plan are granted. 
 2.3 “Board” shall mean the Board of Directors of
the Company. 
 2.4 “Change in Control” means and includes each of the following: 

(a) A transaction or series of transactions (other than an offering of Common Stock to the general public through a registration statement
filed with the Securities and Exchange Commission or a transaction or series of transactions that meets the requirements of clauses (i) and (ii) of subsection (c) below) whereby any “person” or related “group” of
“persons” (as such terms are used in Sections 13(d) and 14(d)(2) of the Exchange Act) (other than the Company, any of its Subsidiaries, any Permitted Holder, an employee benefit plan maintained by the Company or any of its Subsidiaries or
a “person” that, prior to such transaction, directly or indirectly controls, is controlled by, or is under common control with, the Company) directly or indirectly acquires beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act) of securities of the Company possessing more than 50% of the total combined voting power of the Company’s securities outstanding immediately after such acquisition; or 

 
  

	1 	 All share numbers are on a post-split basis. 

 (b) During any period of two consecutive years, individuals who, at the beginning of such
period, constitute the Board together with any new director(s) (other than a director designated by a person who shall have entered into an agreement with the Company to effect a transaction described in subsections (a) or (c)) whose election
by the Board or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds of the directors then still in office who either were directors at the beginning of the two-year period or whose election or nomination for election was previously so approved, cease for any reason to constitute a majority thereof; or 

(c) The consummation by the Company (whether directly involving the Company or indirectly involving the Company through one or more
intermediaries) of (x) a merger, consolidation, reorganization, or business combination or (y) a sale or other disposition of all or substantially all of the Company’s assets in any single transaction or series of related transactions
or (z) the acquisition of assets or stock of another entity, in each case other than a transaction: 
 (i) which results
in the Company’s voting securities outstanding immediately before the transaction continuing to represent (either by remaining outstanding or by being converted into voting securities of the Company or the person that, as a result of the
transaction, controls, directly or indirectly, the Company or owns, directly or indirectly, all or substantially all of the Company’s assets or otherwise succeeds to the business of the Company (the Company or such person, the
“Successor Entity”)) directly or indirectly, at least a majority of the combined voting power of the Successor Entity’s outstanding voting securities immediately after the transaction, and 

(ii) after which no person or group beneficially owns voting securities representing 50% or more of the combined voting power
of the Successor Entity; provided, however, that no person or group shall be treated for purposes of this clause (ii) as beneficially owning 50% or more of the combined voting power of the Successor Entity solely as a result of
the voting power held in the Company prior to the consummation of the transaction. 
 Notwithstanding the foregoing, if a Change in Control
constitutes a payment event with respect to any portion of any right that constitutes “nonqualified deferred compensation,” the transaction or event constituting the Change in Control with respect to such right (or portion thereof) must
also constitute a “change in control event” (as defined in Treasury Regulation §1.409A-3(i)(5)) to trigger the payment event for such right, to the extent required by Section 409A of the
Code. The Administrator shall have full and final authority, which shall be exercised in its discretion, to determine conclusively whether a Change in Control has occurred pursuant to the above definition, the date of the occurrence of such Change
in Control and any incidental matters relating thereto; provided that any exercise of authority in conjunction with a determination of whether a Change in Control is a “change in control event” as defined in Treasury Regulation Section 1.409A-3(i)(5) shall be consistent with such regulation. 
 2.5 “Code”
shall mean the Internal Revenue Code of 1986, as amended and the regulations issued thereunder. 
 2.6
“Class A Common Stock” means the Class A common stock of the Company, par value of $0.00001 per share. 

2.7 “Class B Common Stock” means the Class B common stock of the Company, par
value of $0.00001 per share. 

  
 2 

 2.8 “Common Stock” shall mean either the Class A or
Class B common stock of the Company, and such other securities of the Company that may be substituted therefor pursuant to Article VIII. 

2.9 “Company” shall mean Oscar Health, Inc., a Delaware corporation. 

2.10 “Compensation” of an Eligible Employee shall mean the gross cash compensation received by such Eligible Employee
as compensation for services to the Company or any Designated Subsidiary, including prior week adjustment, overtime payments, commissions and periodic bonuses but excluding vacation pay, holiday pay, jury duty pay, funeral leave pay, military leave
pay, one-time bonuses (e.g., retention or sign on bonuses), education or tuition reimbursements, travel expenses, business and moving reimbursements, income received in connection with any stock options, stock
appreciation rights, restricted stock, restricted stock units or other compensatory equity awards, fringe benefits, other special payments and all contributions made by the Company or any Designated Subsidiary for the Employee’s benefit under
any employee benefit plan now or hereafter established. 
 2.11 “Designated Subsidiary” shall mean any Subsidiary
designated by the Administrator in accordance with Section 11.3(b). 
 2.12 “Effective Date” shall
mean the day prior to the Public Trading Date. 
 2.13 “Eligible Employee” shall mean an Employee who does not,
immediately after any rights under this Plan are granted, own (directly or through attribution) stock possessing 5% or more of the total combined voting power or value of all classes of Common Stock (including Class B Common Stock) and other
stock of the Company, a Parent or a Subsidiary (as determined under Section 423(b)(3) of the Code). For purposes of the foregoing sentence, the rules of Section 424(d) of the Code with regard to the attribution of stock ownership shall
apply in determining the stock ownership of an individual, and stock that an Employee may purchase under outstanding options shall be treated as stock owned by the Employee; provided, however, that the Administrator may provide in an
Offering Document that an Employee shall not be eligible to participate in an Offering Period if: (a) such Employee is a highly compensated employee within the meaning of Section 423(b)(4)(D) of the Code, (b) such Employee has not met
a service requirement designated by the Administrator pursuant to Section 423(b)(4)(A) of the Code (which service requirement may not exceed two years), (c) such Employee’s customary employment is for 20 hours or less per week,
(d) such Employee’s customary employment is for less than five months in any calendar year and/or (e) such Employee is a citizen or resident of a foreign jurisdiction and the grant of a right to purchase Common Stock under the Plan to
such Employee would be prohibited under the laws of such foreign jurisdiction or the grant of a right to purchase Common Stock under the Plan to such Employee in compliance with the laws of such foreign jurisdiction would cause the Plan to violate
the requirements of Section 423 of the Code, as determined by the Administrator in its sole discretion; provided, further, that any exclusion in clauses (a), (b), (c), (d) or (e) shall be applied in an identical manner under
each Offering Period to all Employees, in accordance with Treasury Regulation Section 1.423-2(e). 

2.14 “Employee” shall mean any officer or other employee (as defined in accordance with Section 3401(c) of the
Code) of the Company or any Designated Subsidiary. “Employee” shall not include any director of the Company or a Designated Subsidiary who does not render services to the Company or a Designated Subsidiary as an employee within the meaning
of Section 3401(c) of the Code. For purposes of the Plan, the employment relationship shall be treated as continuing intact while the individual is on sick leave or other leave of absence approved by the Company or Designated Subsidiary and
meeting the requirements of Treasury Regulation Section 1.421-1(h)(2). Where the period of leave exceeds three months and the individual’s right to reemployment is not guaranteed either by statute or
by contract, the employment relationship shall be deemed to have terminated on the first day immediately following such three-month period. 

  
 3 

 2.15 “Enrollment Date” shall mean the first Trading Day of each
Offering Period. 
 2.16 “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended from time to time.

 2.17 “Fair Market Value” means, as of any date, the value of a share of Common Stock determined as follows:
(a) if the Common Stock is listed on any established stock exchange, its Fair Market Value will be the closing sales price for such Common Stock as quoted on such exchange for such date, or if no sale occurred on such date, the last day
preceding such date during which a sale occurred, as reported in The Wall Street Journal or another source the Administrator deems reliable; (b) if the Common Stock is not traded on a stock exchange but is quoted on a national market or
other quotation system, the closing sales price on such date, or if no sales occurred on such date, then on the last date preceding such date during which a sale occurred, as reported in The Wall Street Journal or another source the
Administrator deems reliable; or (c) without an established market for the Common Stock, the Administrator will determine the Fair Market Value in its discretion. 

2.18 “Offering Document” shall have the meaning given to such term in Section 4.1. 

2.19 “Offering Period” shall have the meaning given to such term in Section 4.1. 

2.20 “Parent” shall mean any corporation, other than the Company, in an unbroken chain of corporations ending with the
Company if, at the time of the determination, each of the corporations other than the Company owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain. 

2.21 “Participant” shall mean any Eligible Employee who has executed a subscription agreement and been granted rights
to purchase Common Stock pursuant to the Plan. 
 2.22 “Permitted Holder” means each of the Stockholder Group, any
member of the Stockholder Group, Joshua Kushner, Mario Schlosser or any of their respective affiliates. 
 2.23
“Plan” shall mean this Oscar Health, Inc. 2021 Employee Stock Purchase Plan, as it may be amended from time to time. 

2.24 “Public Trading Date” means the first date upon which the Class A Common Stock is listed (or approved for
listing) upon notice of issuance on any securities exchange or designated (or approved for designation) upon notice of issuance as a national market security on an interdealer quotation system. 

2.25 “Purchase Date” shall mean the last Trading Day of each Purchase Period. 

2.26 “Purchase Period” shall refer to one or more periods within an Offering Period, as designated in the applicable
Offering Document; provided, however, that, in the event no Purchase Period is designated by the Administrator in the applicable Offering Document, the Purchase Period for each Offering Period covered by such Offering Document shall be
the same as the applicable Offering Period. 

  
 4 

 2.27 “Purchase Price” shall mean the purchase price designated by
the Administrator in the applicable Offering Document (which purchase price shall not be less than 85% of the Fair Market Value of a Share on the Enrollment Date or on the Purchase Date, whichever is lower); provided, however, that, in
the event no purchase price is designated by the Administrator in the applicable Offering Document, the purchase price for the Offering Periods covered by such Offering Document shall be 85% of the Fair Market Value of a Share on the Enrollment Date
or on the Purchase Date, whichever is lower; provided, further, that the Purchase Price may be adjusted by the Administrator pursuant to Article VIII and shall not be less than the par value of a Share. 

2.28 “Securities Act” shall mean the Securities Act of 1933, as amended. 

2.29 “Share” shall mean a share of Class A Common Stock. 

2.30 “Stockholder Group” shall mean the “group” (as such term is used in Section 13(d) of the Exchange
Act) consisting of Thrive Capital Partners II, L.P., Thrive Capital Partners III, L.P., Thrive Capital Partners V, L.P., Thrive Capital Partners VI Growth, L.P., Claremount TW, L.P., Claremount V Associates, L.P., and Claremount VI Associates, L.P.,
in each case together with their affiliates. 
 2.31 “Subsidiary” shall mean any corporation, other than the Company,
in an unbroken chain of corporations beginning with the Company if, at the time of the determination, each of the corporations other than the last corporation in an unbroken chain owns stock possessing 50% or more of the total combined voting power
of all classes of stock in one of the other corporations in such chain; provided, however, that a limited liability company or partnership may be treated as a Subsidiary to the extent either (a) such entity is treated as a disregarded
entity under Treasury Regulation Section 301.7701-3(a) by reason of the Company or any other Subsidiary that is a corporation being the sole owner of such entity, or (b) such entity elects to be
classified as a corporation under Treasury Regulation Section 301.7701-3(a) and such entity would otherwise qualify as a Subsidiary. 

2.32 “Trading Day” shall mean a day on which national stock exchanges in the United States are open for
trading. 
 ARTICLE III. 

SHARES SUBJECT TO THE PLAN 

3.1 Number of Shares. Subject to Article VIII, the aggregate number of shares of Class A Common Stock that may be issued
pursuant to rights granted under the Plan shall be [•]2 Shares. In addition to the foregoing, subject to Article VIII, on the first day of each calendar year beginning on January 1,
2022 and ending on and including January 1, 2031, the number of Shares available for issuance under the Plan shall be increased by that number of Shares equal to the lesser of (a) 1% of the aggregate number of shares of Class A Common
Stock and Class B Common Stock outstanding on the final day of the immediately preceding calendar year and (b) such smaller number of Shares as determined by the Board. If any right granted under the Plan shall for any reason terminate
without having been exercised, the Common Stock not purchased under such right shall again become available for issuance under the Plan. Notwithstanding anything in this Section 3.1 to the contrary, the number of Shares that may be issued or
transferred pursuant to the rights granted under the Plan shall not exceed an aggregate of 50,000,000 Shares, subject to Article VIII. 
  

 

	2 	 NTD: Initial share limit will be equal to 2% of the outstanding shares of all of the Company’s classes of
stock as of the closing of the IPO, excluding any shares that may be issued by the Company upon exercise of the underwriters’ over-allotment option. 

  
 5 

 3.2 Stock Distributed. Any Common Stock distributed pursuant to the Plan may consist,
in whole or in part, of authorized and unissued Common Stock, treasury stock or Common Stock purchased on the open market. 
 ARTICLE IV.

 OFFERING PERIODS; OFFERING DOCUMENTS; PURCHASE DATES 

4.1 Offering Periods. The Administrator may from time to time grant or provide for the grant of rights to purchase Common Stock under
the Plan to Eligible Employees during one or more periods (each, an “Offering Period”) selected by the Administrator. The terms and conditions applicable to each Offering Period shall be set forth in an “Offering
Document” adopted by the Administrator, which Offering Document shall be in such form and shall contain such terms and conditions as the Administrator shall deem appropriate. The Administrator shall establish in each Offering Document
one or more Purchase Periods during such Offering Period during which rights granted under the Plan shall be exercised and purchases of Shares carried out during such Offering Period in accordance with such Offering Document and the Plan. The
provisions of separate Offering Periods under the Plan need not be identical. 
 4.2 Offering Documents. Each Offering Document with
respect to an Offering Period shall specify (through incorporation of the provisions of this Plan by reference or otherwise): 
 (a) the
length of the Offering Period, which period shall not exceed 27 months; 
 (b) the length of the Purchase Period(s) within the Offering
Period; 
 (c) in connection with each Offering Period that contains only one Purchase Period the maximum number of Shares that may be
purchased by any Eligible Employee during such Offering Period, which, in the absence of a contrary designation by the Administrator, shall be 5,000 Shares; 

(d) in connection with each Offering Period that contains more than one Purchase Period, the maximum aggregate number of Shares which may be
purchased by any Eligible Employee during each Purchase Period, which, in the absence of a contrary designation by the Administrator, shall be 5,000 Shares; and 

(e) such other provisions as the Administrator determines are appropriate, subject to the Plan. 

ARTICLE V. 
 ELIGIBILITY
AND PARTICIPATION 
 5.1 Eligibility. Any Eligible Employee who shall be employed by the Company or a Designated Subsidiary on a
given Enrollment Date for an Offering Period shall be eligible to participate in the Plan during such Offering Period, subject to the requirements of this Article V and the limitations imposed by Section 423(b) of the Code. 

5.2 Enrollment in Plan. 

(a) Except as otherwise set forth in an Offering Document or determined by the Administrator, an Eligible Employee may become a Participant in
the Plan for an Offering Period by delivering a subscription agreement to the Company by such time prior to the Enrollment Date for such Offering Period (or such other date specified in the Offering Document) designated by the Administrator and in
such form as the Company provides. 

  
 6 

 (b) Each subscription agreement shall designate a whole percentage of such Eligible
Employee’s Compensation to be withheld by the Company or the Designated Subsidiary employing such Eligible Employee on each payday during the Offering Period as payroll deductions under the Plan. The designated percentage may not be less than
1% and may not be more than the maximum percentage specified by the Administrator in the applicable Offering Document (which percentage shall be 20% in the absence of any such designation). The payroll deductions made for each Participant shall be
credited to an account for such Participant under the Plan and shall be deposited with the general funds of the Company. 
 (c) A Participant
may decrease the percentage of Compensation designated in his or her subscription agreement, subject to the limits of this Section 5.2, or may suspend his or her payroll deductions, at any time during an Offering Period; provided,
however, that the Administrator may limit the number of changes a Participant may make to his or her payroll deduction elections during each Offering Period in the applicable Offering Document (and in the absence of any specific designation
by the Administrator, a Participant shall be allowed two decreases and one suspension (but no increases) to his or her payroll deduction elections during each Offering Period with respect to such Offering Period). Any such change or suspension of
payroll deductions shall be effective with the first full payroll period following ten business days after the Company’s receipt of the new subscription agreement (or such shorter or longer period as may be specified by the Administrator in the
applicable Offering Document). In the event a Participant suspends his or her payroll deductions, such Participant’s cumulative payroll deductions prior to the suspension shall remain in his or her account and shall be applied to the purchase
of Shares on the next occurring Purchase Date and shall not be paid to such Participant unless he or she withdraws from participation in the Plan pursuant to Article VII. 

(d) Except as otherwise set forth in Section 5.8 or in an Offering Document or determined by the Administrator, a Participant may
participate in the Plan only by means of payroll deduction and may not make contributions by lump sum payment for any Offering Period. 
 5.3
Payroll Deductions. Except as otherwise provided in the applicable Offering Document or Section 5.8, payroll deductions for a Participant shall commence on the first payroll following the Enrollment Date and shall end on the last payroll
in the Offering Period to which the Participant’s authorization is applicable, unless sooner terminated by the Participant as provided in Article VII or suspended by the Participant or the Administrator as provided in Section 5.2 and
Section 5.6, respectively. 
 5.4 Effect of Enrollment. A Participant’s completion of a subscription agreement will enroll
such Participant in the Plan for each subsequent Offering Period on the terms contained therein until the Participant either submits a new subscription agreement, withdraws from participation under the Plan as provided in Article VII or
otherwise becomes ineligible to participate in the Plan. 
 5.5 Limitation on Purchase of Common Stock. An Eligible Employee may be
granted rights under the Plan only if such rights, together with any other rights granted to such Eligible Employee under “employee stock purchase plans” of the Company, any Parent or any Subsidiary, as specified by Section 423(b)(8)
of the Code, do not permit such employee’s rights to purchase stock of the Company or any Parent or Subsidiary to accrue at a rate that exceeds $25,000 of the fair market value of such stock (determined as of the first day of the Offering
Period during which such rights are granted) for each calendar year in which such rights are outstanding at any time. This limitation shall be applied in accordance with Section 423(b)(8) of the Code. 

5.6 Decrease or Suspension of Payroll Deductions. Notwithstanding the foregoing, to the extent necessary to comply with
Section 423(b)(8) of the Code and Section 5.5 or the other limitations set forth in this Plan, a Participant’s payroll deductions may be suspended by the Administrator at any time during an Offering Period. The balance of the amount
credited to the account of each Participant that has not been applied to the purchase of Shares by reason of Section 423(b)(8) of the Code, Section 5.5 or the other limitations set forth in this Plan shall be paid to such Participant in
one lump sum in cash as soon as reasonably practicable after the Purchase Date. 
 5.7 Foreign Employees. In order to facilitate
participation in the Plan, the Administrator may provide for such special terms applicable to Participants who are citizens or residents of a foreign jurisdiction, or who are employed by a Designated Subsidiary outside of the United States, as the
Administrator may consider necessary or appropriate to accommodate differences in local law, tax policy or custom. Such special terms may not be more favorable than the terms of rights granted under the Plan to Eligible Employees who are residents
of the United States. Moreover, the Administrator may approve such supplements to, or amendments, restatements or alternative versions of, this Plan as it may consider necessary or appropriate for such purposes without thereby affecting the terms of
this Plan as in effect for any other purpose. No such special terms, supplements, amendments or restatements shall include any provisions that are inconsistent with the terms of this Plan as then in effect unless this Plan could have been amended to
eliminate such inconsistency without further approval by the stockholders of the Company. 

  
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 5.8 Leave of Absence. During leaves of absence approved by the Company meeting the
requirements of Treasury Regulation Section 1.421-1(h)(2) under the Code, a Participant may continue participation in the Plan by making cash payments to the Company on his or her normal payday equal to
his or her authorized payroll deduction. 
 ARTICLE VI. 

GRANT AND EXERCISE OF RIGHTS 

6.1 Grant of Rights. On the Enrollment Date of each Offering Period, each Eligible Employee participating in such Offering Period shall
be granted a right to purchase the maximum number of Shares specified under Section 4.2, subject to the limits in Section 5.5, and shall have the right to buy, on each Purchase Date during such Offering Period (at the applicable Purchase
Price), such number of whole Shares as is determined by dividing (a) such Participant’s payroll deductions accumulated prior to such Purchase Date and retained in the Participant’s account as of the Purchase Date, by (b) the
applicable Purchase Price (rounded down to the nearest Share). The right shall expire on the earlier of: (x) the last Purchase Date of the Offering Period, (y) last day of the Offering Period and (z) the date on which the Participant
withdraws in accordance with Section 7.1 or Section 7.3. 
 6.2 Exercise of Rights. On each Purchase Date, each
Participant’s accumulated payroll deductions and any other additional payments specifically provided for in the applicable Offering Document will be applied to the purchase of whole Shares, up to the maximum number of Shares permitted pursuant
to the terms of the Plan and the applicable Offering Document, at the Purchase Price. No fractional Shares shall be issued upon the exercise of rights granted under the Plan, unless the Offering Document specifically provides otherwise. Any cash in
lieu of fractional Shares remaining after the purchase of whole Shares upon exercise of a purchase right will be carried forward and applied toward the purchase of whole Shares for the following Offering Period. Shares issued pursuant to the Plan
may be evidenced in such manner as the Administrator may determine and may be issued in certificated form or issued pursuant to book-entry procedures. 
  

  
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 6.3 Pro Rata Allocation of Shares. If the Administrator determines that, on a given
Purchase Date, the number of Shares with respect to which rights are to be exercised may exceed (a) the number of Shares that were available for issuance under the Plan on the Enrollment Date of the applicable Offering Period, or (b) the
number of Shares available for issuance under the Plan on such Purchase Date, the Administrator may in its sole discretion provide that the Company shall make a pro rata allocation of the Shares available for purchase on such Enrollment Date or
Purchase Date, as applicable, in as uniform a manner as shall be practicable and as it shall determine in its sole discretion to be equitable among all Participants for whom rights to purchase Common Stock are to be exercised pursuant to this
Article VI on such Purchase Date, and shall either (i) continue all Offering Periods then in effect, or (ii) terminate any or all Offering Periods then in effect pursuant to Article IX. The Company may make pro rata allocation of
the Shares available on the Enrollment Date of any applicable Offering Period pursuant to the preceding sentence, notwithstanding any authorization of additional Shares for issuance under the Plan by the Company’s stockholders subsequent to
such Enrollment Date. The balance of the amount credited to the account of each Participant that has not been applied to the purchase of Shares shall be paid to such Participant in one lump sum in cash as soon as reasonably practicable after the
Purchase Date. 
 6.4 Withholding. At the time a Participant’s rights under the Plan are exercised, in whole or in part, or at
the time some or all of the Common Stock issued under the Plan is disposed of, the Participant must make adequate provision for the Company’s federal, state, or other tax withholding obligations, if any, that arise upon the exercise of the
right or the disposition of the Common Stock. At any time, the Company may, but shall not be obligated to, withhold from the Participant’s compensation the amount necessary for the Company to meet applicable withholding obligations, including
any withholding required to make available to the Company any tax deductions or benefits attributable to sale or early disposition of Common Stock by the Participant. 

6.5 Conditions to Issuance of Common Stock. The Company shall not be required to issue or deliver any certificate or certificates for,
or make any book entries evidencing, Shares purchased upon the exercise of rights under the Plan prior to fulfillment of all of the following conditions: 

(a) The admission of such Shares to listing on all stock exchanges, if any, on which the Common Stock is then listed; 

(b) The completion of any registration or other qualification of such Shares under any state or federal law or under the rulings or regulations
of the Securities and Exchange Commission or any other governmental regulatory body, that the Administrator shall, in its absolute discretion, deem necessary or advisable; 

(c) The obtaining of any approval or other clearance from any state or federal governmental agency that the Administrator shall, in its
absolute discretion, determine to be necessary or advisable; 
 (d) The payment to the Company of all amounts that it is required to withhold
under federal, state or local law upon exercise of the rights, if any; and 
 (e) The lapse of such reasonable period of time following the
exercise of the rights as the Administrator may from time to time establish for reasons of administrative convenience. 
 ARTICLE VII.

 WITHDRAWAL; CESSATION OF ELIGIBILITY 

7.1 Withdrawal. A Participant may withdraw all but not less than all of the payroll deductions credited to his or her account and not
yet used to exercise his or her rights under the Plan at any time by giving written notice to the Company in a form acceptable to the Company no later than two weeks prior to the end of the Offering Period or, if earlier, the end of the Purchase
Period (or such shorter or longer period specified by the Administrator in the Offering Document). All of the Participant’s payroll 

  
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deductions credited to his or her account during an Offering Period shall be paid to such Participant as soon as reasonably practicable after receipt of notice of withdrawal and such
Participant’s rights for the Offering Period shall be automatically terminated, and no further payroll deductions for the purchase of Shares shall be made for such Offering Period. If a Participant withdraws from an Offering Period, payroll
deductions shall not resume at the beginning of the next Offering Period unless the Participant is an Eligible Employee and timely delivers to the Company a new subscription agreement. 

7.2 Future Participation. A Participant’s withdrawal from an Offering Period shall not have any effect upon his or her eligibility
to participate in any similar plan that may hereafter be adopted by the Company or a Designated Subsidiary or in subsequent Offering Periods that commence after the termination of the Offering Period from which the Participant withdraws. 

7.3 Cessation of Eligibility. Upon a Participant’s ceasing to be an Eligible Employee for any reason, he or she shall be deemed to
have elected to withdraw from the Plan pursuant to this Article VII and the payroll deductions credited to such Participant’s account during the Offering Period shall be paid to such Participant or, in the case of his or her death, to the
person or persons entitled thereto under Section 12.4, as soon as reasonably practicable, and such Participant’s rights for the Offering Period shall be automatically terminated. 

ARTICLE VIII. 

ADJUSTMENTS UPON CHANGES IN STOCK 

8.1 Changes in Capitalization. Subject to Section 8.3, in the event that the Administrator determines that any dividend or other
distribution (whether in the form of cash, Common Stock, other securities, or other property), Change in Control, reorganization, merger, amalgamation, consolidation, combination, repurchase, recapitalization, liquidation, dissolution, or sale,
transfer, exchange or other disposition of all or substantially all of the assets of the Company, or sale or exchange of Common Stock or other securities of the Company, issuance of warrants or other rights to purchase Common Stock or other
securities of the Company, or other similar corporate transaction or event, as determined by the Administrator, affects the Common Stock such that an adjustment is determined by the Administrator to be appropriate in order to prevent dilution or
enlargement of the benefits or potential benefits intended by the Company to be made available under the Plan or with respect to any outstanding purchase rights under the Plan, the Administrator shall make equitable adjustments, if any, to reflect
such change with respect to (a) the aggregate number and type of Shares (or other securities or property) that may be issued under the Plan (including, but not limited to, adjustments of the limitations in Section 3.1 and the limitations
established in each Offering Document pursuant to Section 4.2 on the maximum number of Shares that may be purchased); (b) the class(es) and number of Shares and price per Share subject to outstanding rights; and (c) the Purchase Price with
respect to any outstanding rights. 
 8.2 Other Adjustments. Subject to Section 8.3, in the event of any transaction or event
described in Section 8.1 or any unusual or nonrecurring transactions or events affecting the Company, any affiliate of the Company, or the financial statements of the Company or any affiliate (including without limitation any Change in
Control), or of changes in Applicable Law or accounting principles, the Administrator, in its discretion, and on such terms and conditions as it deems appropriate, is hereby authorized to take any one or more of the following actions whenever the
Administrator determines that such action is appropriate in order to prevent the dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan or with respect to any right under the Plan, to facilitate
such transactions or events or to give effect to such changes in laws, regulations or principles: 
 (a) To provide for either
(i) termination of any outstanding right in exchange for an amount of cash, if any, equal to the amount that would have been obtained upon the exercise of such right had such right been currently exercisable or (ii) the replacement of such
outstanding right with other rights or property selected by the Administrator in its sole discretion; 

  
 10 

 (b) To provide that the outstanding rights under the Plan shall be assumed by the successor
or survivor corporation, or a parent or subsidiary thereof, or shall be substituted for by similar rights covering the stock of the successor or survivor corporation, or a parent or subsidiary thereof, with appropriate adjustments as to the number
and kind of shares and prices; 
 (c) To make adjustments in the number and type of Shares (or other securities or property) subject to
outstanding rights under the Plan and/or in the terms and conditions of outstanding rights and rights that may be granted in the future; 

(d) To provide that Participants’ accumulated payroll deductions may be used to purchase Common Stock prior to the next occurring Purchase
Date on such date as the Administrator determines in its sole discretion and the Participants’ rights under the ongoing Offering Period(s) shall be terminated; and 

(e) To provide that all outstanding rights shall terminate without being exercised. 

8.3 No Adjustment Under Certain Circumstances. No adjustment or action described in this Article VIII or in any other
provision of the Plan shall be authorized to the extent that such adjustment or action would cause the Plan to fail to satisfy the requirements of Section 423 of the Code. 

8.4 No Other Rights. Except as expressly provided in the Plan, no Participant shall have any rights by reason of any subdivision or
consolidation of shares of stock of any class, the payment of any dividend, any increase or decrease in the number of shares of stock of any class or any dissolution, liquidation, merger, or consolidation of the Company or any other corporation.
Except as expressly provided in the Plan or pursuant to action of the Administrator under the Plan, no issuance by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, shall affect, and no
adjustment by reason thereof shall be made with respect to, the number of Shares subject to outstanding rights under the Plan or the Purchase Price with respect to any outstanding rights. 

ARTICLE IX. 
 AMENDMENT,
MODIFICATION AND TERMINATION 
 9.1 Amendment, Modification and Termination. The Administrator may amend, suspend or terminate
the Plan at any time and from time to time; provided, however, that approval of the Company’s stockholders shall be required to amend the Plan to: (a) increase the aggregate number, or change the type, of shares that
may be sold pursuant to rights under the Plan under Section 3.1 (other than an adjustment as provided by Article VIII); (b) change the Plan in any manner that would be considered the adoption of a new plan within the meaning of Treasury
regulation Section 1.423-2(c)(4); or (c) change the Plan in any manner that would cause the Plan to no longer be an “employee stock purchase plan” within the meaning of Section 423(b)
of the Code. 
 9.2 Certain Changes to Plan. Without stockholder consent and without regard to whether any Participant rights may be
considered to have been adversely affected, to the extent permitted by Section 423 of the Code, the Administrator shall be entitled to change or terminate the Offering Periods, limit the frequency and/or number of changes in the amount withheld
from Compensation during an Offering Period, establish the exchange ratio applicable to amounts withheld in a currency other than U.S. dollars, permit payroll withholding in excess of the amount designated by a Participant in order to adjust for
delays or mistakes in the Company’s processing of payroll withholding elections, establish reasonable 

  
 11 

 
waiting and adjustment periods and/or accounting and crediting procedures to ensure that amounts applied toward the purchase of Common Stock for each Participant properly correspond with amounts
withheld from the Participant’s Compensation, and establish such other limitations or procedures as the Administrator determines in its sole discretion to be advisable that are consistent with the Plan. 

9.3 Actions In the Event of Unfavorable Financial Accounting Consequences. In the event the Administrator determines that the ongoing
operation of the Plan may result in unfavorable financial accounting consequences, the Administrator may, in its discretion and, to the extent necessary or desirable, modify or amend the Plan to reduce or eliminate such accounting consequence
including, but not limited to: 
 (a) altering the Purchase Price for any Offering Period, including an Offering Period underway at the time
of the change in Purchase Price; 
 (b) shortening any Offering Period so that the Offering Period ends on a new Purchase Date, including an
Offering Period underway at the time of the Administrator action; and 
 (c) allocating Shares. 

Such modifications or amendments shall not require stockholder approval or the consent of any Participant. 

9.4 Payments Upon Termination of Plan. Upon termination of the Plan, the balance in each Participant’s Plan account shall be
refunded as soon as practicable after such termination, without any interest thereon. 
 ARTICLE X. 

TERM OF PLAN 
 The Plan
shall be effective on the Effective Date. The effectiveness of the Plan shall be subject to approval of the Plan by the stockholders of the Company within 12 months following the date the Plan is first approved by the Board. No right may be granted
under the Plan prior to such stockholder approval. No rights may be granted under the Plan during any period of suspension of the Plan or after termination of the Plan. 

ARTICLE XI. 

ADMINISTRATION 
 11.1
Administrator. Unless otherwise determined by the Board, the Administrator of the Plan shall be the Compensation Committee of the Board (or another committee or a subcommittee of the Board to which the Board delegates administration of the
Plan) (such committee, the “Committee”). The Board may at any time vest in the Board any authority or duties for administration of the Plan. 

11.2 Action by the Administrator. Unless otherwise established by the Board or in any charter of the Administrator, a majority of the
Administrator shall constitute a quorum. The acts of a majority of the members present at any meeting at which a quorum is present and, subject to Applicable Law and the Bylaws of the Company, acts approved in writing by a majority of the
Administrator in lieu of a meeting, shall be deemed the acts of the Administrator. Each member of the Administrator is entitled to, in good faith, rely or act upon any report or other information furnished to that member by any officer or other
employee of the Company or any Designated Subsidiary, the Company’s independent certified public accountants, or any executive compensation consultant or other professional retained by the Company to assist in the administration of the Plan.

  
 12 

 11.3 Authority of Administrator. The Administrator shall have the power, subject to,
and within the limitations of, the express provisions of the Plan: 
 (a) To determine when and how rights to purchase Common Stock shall be
granted and the provisions of each offering of such rights (which need not be identical). 
 (b) To designate from time to time which
Subsidiaries of the Company shall be Designated Subsidiaries, which designation may be made without the approval of the stockholders of the Company. 

(c) To construe and interpret the Plan and rights granted under it, and to establish, amend and revoke rules and regulations for its
administration. The Administrator, in the exercise of this power, may correct any defect, omission or inconsistency in the Plan, in a manner and to the extent it shall deem necessary or expedient to make the Plan fully effective. 

(d) To amend, suspend or terminate the Plan as provided in Article IX. 

(e) Generally, to exercise such powers and to perform such acts as the Administrator deems necessary or expedient to promote the best interests
of the Company and its Subsidiaries and to carry out the intent that the Plan be treated as an “employee stock purchase plan” within the meaning of Section 423 of the Code. 

11.4 Decisions Binding. The Administrator’s interpretation of the Plan, any rights granted pursuant to the Plan, any subscription
agreement and all decisions and determinations by the Administrator with respect to the Plan are final, binding, and conclusive on all parties. 

ARTICLE XII. 

MISCELLANEOUS 
 12.1
Restriction upon Assignment. A right granted under the Plan shall not be transferable other than by will or the applicable laws of descent and distribution, and is exercisable during the Participant’s lifetime only by the Participant.
Except as provided in Section 12.4 hereof, a right under the Plan may not be exercised to any extent except by the Participant. The Company shall not recognize and shall be under no duty to recognize any assignment or alienation of the
Participant’s interest in the Plan, the Participant’s rights under the Plan or any rights thereunder. 
 12.2 Rights as a
Stockholder. With respect to Shares subject to a right granted under the Plan, a Participant shall not be deemed to be a stockholder of the Company, and the Participant shall not have any of the rights or privileges of a stockholder,
until such Shares have been issued to the Participant or his or her nominee following exercise of the Participant’s rights under the Plan. No adjustments shall be made for dividends (ordinary or extraordinary, whether in cash securities, or
other property) or distribution or other rights for which the record date occurs prior to the date of such issuance, except as otherwise expressly provided herein or as determined by the Administrator. 

12.3 Interest. No interest shall accrue on the payroll deductions or contributions of a Participant under the Plan. 

12.4 Designation of Beneficiary. 

  
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 (a) A Participant may, in the manner determined by the Administrator, file a written
designation of a beneficiary who is to receive any Shares and/or cash, if any, from the Participant’s account under the Plan in the event of such Participant’s death subsequent to a Purchase Date on which the Participant’s rights are
exercised but prior to delivery to such Participant of such Shares and cash. In addition, a Participant may file a written designation of a beneficiary who is to receive any cash from the Participant’s account under the Plan in the event of
such Participant’s death prior to exercise of the Participant’s rights under the Plan. If the Participant is married and resides in a community property state, a designation of a person other than the Participant’s spouse as his or
her beneficiary shall not be effective without the prior written consent of the Participant’s spouse. 
 (b) Such designation of
beneficiary may be changed by the Participant at any time by written notice to the Company. In the event of the death of a Participant and in the absence of a beneficiary validly designated under the Plan who is living at the time of such
Participant’s death, the Company shall deliver such Shares and/or cash 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 Company), the Company,
in its 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 Company, then to such other person as the Company may
designate. 
 12.5 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. 

12.6 Equal Rights and Privileges. Subject to Section 5.7, all Eligible Employees will have equal rights and privileges under this
Plan so that this Plan qualifies as an “employee stock purchase plan” within the meaning of Section 423 of the Code. Subject to Section 5.7, any provision of this Plan that is inconsistent with Section 423 of the Code will,
without further act or amendment by the Company, the Board or the Administrator, be reformed to comply with the equal rights and privileges requirement of Section 423 of the Code. 

12.7 Use of Funds. All payroll deductions received or held by the Company under the Plan may be used by the Company for any corporate
purpose, and the Company shall not be obligated to segregate such payroll deductions. 
 12.8 Reports. Statements of account shall be
given to Participants at least annually, which statements shall set forth the amounts of payroll deductions, the Purchase Price, the number of Shares purchased and the remaining cash balance, if any. 

12.9 No Employment Rights. Nothing in the Plan shall be construed to give any person (including any Eligible Employee or Participant)
the right to remain in the employ of the Company or any Parent or Subsidiary or affect the right of the Company or any Parent or Subsidiary to terminate the employment of any person (including any Eligible Employee or Participant) at any time, with
or without cause. 
 12.10 Notice of Disposition of Shares. Each Participant shall give prompt notice to the Company of any
disposition or other transfer of any Shares purchased upon exercise of a right under the Plan if such disposition or transfer is made: (a) within two years from the Enrollment Date of the Offering Period in which the Shares were purchased or
(b) within one year after the Purchase Date on which such Shares were purchased. Such notice shall specify the date of such disposition or other transfer and the amount realized, in cash, other property, assumption of indebtedness or other
consideration, by the Participant in such disposition or other transfer. 

  
 14 

 12.11 Governing Law. The Plan and any agreements hereunder shall be administered,
interpreted and enforced under the internal laws of the State of Delaware without regard to conflicts of laws thereof or of any other jurisdiction. 

12.12 Electronic Forms. To the extent permitted by Applicable Law and in the discretion of the Administrator, an Eligible Employee may
submit any form or notice as set forth herein by means of an electronic form approved by the Administrator. Before the commencement of an Offering Period, the Administrator shall prescribe the time limits within which any such electronic form shall
be submitted to the Administrator with respect to such Offering Period in order to be a valid election. 

  
 15

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