Document:

EX-10.5

 Exhibit 10.5 

THIS NOTE AND ANY SHARES ACQUIRED UPON CONVERSION OF THIS NOTE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“ACT”), AND MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT FILED UNDER SUCH ACT OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE ACT. 

INTUITY MEDICAL, INC. 

8.0% PAY IN KIND CONVERTIBLE PROMISSORY NOTE 
  

			
	$4,725,000	  	May 24, 2021

 FOR VALUE RECEIVED, Intuity Medical, Inc., a Delaware corporation (the “Company”), promises
to pay to the undersigned holder or such party’s assigns (the “Holder”) the principal sum of $4,725,000 on March 31, 2024 (the “Maturity Date”), and to pay interest on the unpaid principal amount of this
Note (the “Interest”) at the rate and on the dates specified herein. 
 1. Interest. The Company promises to pay the
Interest at the rate per annum of 8.0% (the “Interest Rate”), payable in-kind by the Company quarterly in arrears each March 31, June 30, September 30 and December 31,
commencing June 30, 2021 (each day on which interest shall be so payable, an “Interest Payment Date”). On each Interest Payment Date, Interest shall accrete and be considered additional principal of this Note for all purposes,
and all references herein to the “principal” of this Note shall include all accreted interest. Interest on this Note shall be computed on the basis of a year of 365 days for the actual number of days elapsed. 

2. Automatic Conversion upon Qualifying IPO or SPAC Transaction. In the event that the Company consummates, on or prior to the Maturity
Date, a Qualifying IPO (as defined below), then the outstanding principal of this Note (including accreted interest as set forth above) shall automatically convert in whole without any further action by the Holder into common stock of the Company
or, in the case of a SPAC Transaction (as defined below), common stock of the SPAC (as defined below), at a conversion price equal to 80% of (i) the price per share of the Company’s common stock paid by the purchasers in the Qualifying IPO
(which price shall be the “price to public” as set forth in the final prospectus relating to such IPO) or (ii) the lowest price per share of the SPAC’s common stock offered to investors in such SPAC Transaction
(including the Company’s existing stockholders or other investors participating in any “private investment in public equity,” or PIPE, in connection with such SPAC Transaction). A “Qualifying IPO” is (i) a firm
commitment underwritten public offering of shares of the Company’s common stock pursuant to an effective registration statement filed under the Act (an “IPO”) in which the aggregate cash consideration paid to holders of the
Company’s securities is at least $75,000,000 (before deduction of underwriters’ commissions and other offering expenses) or (ii) a SPAC Transaction in which the aggregate cash 

  
 1 

 
consideration paid to holders of the Company’s securities is at least $75,000,000 (before deduction of advisors’ fees/commissions and other transaction expenses). A “SPAC
Transaction” is a business combination transaction in which a special purpose acquisition company, blank check company or similar entity incorporated, formed or otherwise organized for the purpose of effecting a business combination with
one or more businesses or entities (a “SPAC”) is the parent or the successor of the Company following the transaction and in which the stockholders of the Company receive shares of common stock of the SPAC that are listed on a
nationally recognized stock exchange and/or other forms of cash or non-cash consideration. The Company shall not effect any such SPAC Transaction, unless the relevant SPAC shall agree to assume, prior to or
simultaneously with the consummation thereof, (i) the obligation to deliver to the Holder, such shares of common stock of such SPAC as, in accordance with the foregoing provisions, the Holder may be entitled to acquire pursuant to the
conversion of this Note, and (ii) the other obligations of the Company under this Note. 
 3. Automatic Conversion upon Qualifying
Financing. In the event that the Company issues and sells shares of its equity securities (“Equity Securities”) to investors (the “Investors”) on or before the Maturity Date in an equity financing with total
cash proceeds to the Company of not less than $35,000,000 in the aggregate (whether in a single offering or series of related offerings) (a “Qualifying Financing”), then the outstanding principal of this Note (including accreted
interest as set forth above) shall automatically convert in whole without any further action by the Holder into Equity Securities sold in the Qualifying Financing at a conversion price equal to the cash price paid per share for Equity Securities by
the Investors in the Qualifying Financing, multiplied by 0.80. Except as set forth in this Section 3, the issuance of Equity Securities pursuant to the conversion of this Note shall be upon and subject to the substantively similar general terms
and conditions applicable to Equity Securities sold in the Qualifying Financing. 
 4. Optional Conversion upon Non-Qualifying IPO or Non-Qualifying Financing. In the event the Company consummates, on or before the Maturity Date, an IPO or a SPAC Transaction that does not constitute
a Qualifying IPO or issues and sells Equity Securities in a transaction that does not constitute a Qualifying Financing (a “Non-Qualifying Equity Raise”), then the Holder shall have the option
to treat such IPO or SPAC Transaction as a Qualifying IPO or such Non-Qualifying Equity Raise as a Qualifying Financing on the same terms set forth herein. 

5. Maturity Date Automatic Conversion. In the event that this Note remains outstanding on the Maturity Date, then on such date the
outstanding principal of this Note (including accreted interest as set forth above) shall be automatically converted into shares of the Company’s then-latest round of outstanding equity securities at a conversion price equal to the lowest price
per share paid by the purchasers of such equity securities in such round (subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to such equity securities). 

6. Procedure for Conversion. In connection with any conversion of this Note into capital stock, the Holder shall surrender this Note to
the Company and deliver to the Company any documentation reasonably required by the Company (including, in the case of a Qualified Financing, financing documents executed by the Investors in connection with such Qualified

  
 2 

 
Financing). The Company shall not be required to issue or deliver the capital stock into which this Note may convert until the Holder has surrendered this Note to the Company and delivered to the
Company any such documentation. Upon the conversion of this Note into capital stock pursuant to the terms hereof, any fraction of a share will be rounded down to the next whole share. No payment will be made to the Holder in lieu of any fractional
shares to which the Holder would otherwise have been entitled, and such amounts shall be extinguished without any further payment on the part of the Company. 

7. Repayment upon Deemed Liquidation. If the Company consummates a Deemed Liquidation (as defined below) while this Note remains
outstanding, the Company shall repay the Holder in cash in an amount equal to (i) the outstanding principal amount of this Note (including accreted interest), plus (ii) a repayment premium equal to 25% of the outstanding principal amount
of this Note (including accreted interest), in full satisfaction of all amounts due under this Note. For purposes of this Note, a “Deemed Liquidation” means the consolidation or merger of the Company with or into any other entity or
entities which results in the exchange of outstanding shares of the Company for securities or other consideration issued or paid or caused to be issued or paid by any such entity or affiliate thereof (other than a merger to reincorporate the Company
in a different jurisdiction) in which the stockholders of the Company immediately prior to such consolidation or merger do not own a majority of the voting power of the Company or the surviving corporation immediately after such consolidation or
merger, or any transaction or series of related transactions to which the Company is a party in which a majority of the Company’s voting power is transferred (for clarity, a bona fide equity financing transaction or series of related
transactions of the Company for capital raising purposes shall not constitute such a transfer), or the sale, exclusive license, lease, abandonment, transfer or other disposition by the Company of all or substantially all its assets; provided that a
Deemed Liquidation shall not include a SPAC Transaction that constitutes a Qualifying IPO under Section 2 or that is treated by the Holder as a Qualifying IPO under Section 4. The Company shall give the Holder notice of a Deemed
Liquidation not less than 10 business days prior to the anticipated date of consummation of the Deemed Liquidation. Any repayment pursuant to this paragraph in connection with a Deemed Liquidation shall be subject to any required tax withholdings,
and may be made by the Company (or any party to such Deemed Liquidation or its agent) following the Deemed Liquidation in connection with payment procedures established in connection with such Deemed Liquidation. 

8. Interest Accrual. If a Deemed Liquidation, Qualified IPO, IPO, SPAC Transaction, Qualified Financing or Non-Qualifying Equity Raise (in the case of a Non-Qualifying Equity Raise or an IPO or a SPAC Transaction that is not a Qualified IPO, in which the Holder elects to convert
this Note) is consummated, all interest on this Note shall be deemed to have stopped accruing as of a date selected by the Company that is up to 10 days prior to the consummation of such Deemed Liquidation, Qualified IPO, IPO, SPAC Transaction,
Qualified Financing or Non-Qualifying Equity Raise. 
 9. Events of Default. This Note shall
become immediately due and payable without notice or demand upon the occurrence at any time of any of the following events of default: 
  

	 	a.	 the Company fails to pay any of the principal, interest or any other amounts payable under this Note
when due and payable; 

  
 3 

	 	b.	 the Company files any petition or action for relief under any bankruptcy, reorganization, insolvency or
moratorium law or any other law for the relief of, or relating to, debtors, now or hereafter in effect, or seeks the appointment of a custodian, receiver, trustee (or other similar official) of the Company or all or any substantial portion of the
Company’s assets, or makes any assignment for the benefit of creditors or takes any action in furtherance of any of the foregoing, or fails to generally pay its debts as they become due; or 

 

	 	c.	 an involuntary petition is filed, or any proceeding or case is commenced, against the Company (unless
such proceeding or case is dismissed or discharged within 60 days of the filing or commencement thereof) under any bankruptcy, reorganization, arrangement, insolvency, adjustment of debt, liquidation or moratorium statute now or hereafter in effect,
or a custodian, receiver, trustee, assignee for the benefit of creditors (or other similar official) is applied or appointed for the Company or to take possession, custody or control of any property of the Company, or an order for relief is entered
against the Company in any of the foregoing. 

 10. No Prepayment. This Note may not be prepaid, in whole or in
part, without the prior written consent of the Holder. 
 11. Delays or Omissions. No delay or omission on the part of the Holder in
exercising any right under this Note shall operate as a waiver of such right or of any other right of the Holder, nor shall any delay, omission or waiver on any one occasion be deemed a bar to or waiver of the same or any other right on any future
occasion. 
 12. Waivers. The Company and every endorser or guarantor of this Note, regardless of the time, order or place of
signing, hereby waives presentment, demand, protest and notices of every kind and assents to any permitted extension of the time of payment and to the addition or release of any other party primarily or secondarily liable hereunder. 

13. No Personal Liability. The Holder agrees that no stockholder, director or officer of the Company shall have any personal liability
for the repayment of this Note. 
 14. Accredited Investor Status. By accepting this Note and countersigning below, the Holder
represents and warrants to the Company that such Holder is an “accredited investor” as defined in Rule 501(a) under the Act. 

15. No Pre-Conversion Rights as Stockholder. Until the conversion of this Note, the Holder
shall not have or exercise any rights by virtue hereof as a stockholder of the Company. Upon the conversion of this Note (in whole or in part), the Holder may elect, and the Company hereby agrees to cause the Holder, to become a party to the
Stockholder Agreements as an a Holder or a Preferred Stock Holder thereunder, as applicable, with such rights and obligations of the holders of the capital stock thereunder. “Stockholder Agreements” means, collectively, the Eleventh
Amended and Restated Investors’ Rights Agreement by and among the Company and the other parties thereto, as amended, and that certain Tenth Amended and Restated Voting, Right of First Refusal and Co-Sale
Agreement by and among the Company and the other parties thereto, as amended, as such agreements may be amended and/or restated from time to time. 

  
 4 

 16. Representations and Covenants of the Holder. This Note has been entered into by
the Company in reliance upon the following representations and covenants of the Holder: 
  

	 	a.	 Investment Purpose. The right to acquire capital stock of the Company upon the conversion of this
Note is being acquired for investment and not with a view to the sale or distribution of any part thereof, and the Holder has no present intention of selling or engaging in any public distribution of such rights or such capital stock except pursuant
to an effective registration statement or an exemption from the registration requirements of the Securities Act of 1933, as amended (the “Act”). 

 

	 	b.	 Private Issue. The Holder understands (i) that the capital stock issuable upon conversion of
this Note is not registered under the Act or qualified under applicable state securities laws on the ground that the issuance contemplated by this Note will be exempt from the registration and qualifications requirements thereof, and (ii) that
the Company’s reliance on such exemption is predicated on the representations set forth in this Section 16. 

  

	 	c.	 Financial Risk. The Holder has such knowledge and experience in financial and business matters as
to be capable of evaluating the merits and risks of its investment, and has the ability to bear the economic risks of its investment. 

  

	 	d.	 Risk of No Registration. The Holder understands that if the Company does not register with the
Securities and Exchange Commission pursuant to Section 12 of the Securities Exchange Act of 1934, as amended (the “1934 Act”), or file reports pursuant to Section 15(d) of the 1934 Act, or if a registration statement
covering the securities under the Act is not in effect when it desires to sell (i) the rights to acquire capital stock pursuant to this Note or (ii) the capital stock issuable upon conversion of this Note, it may be required to hold such
securities for an indefinite period. The Holder also understands that any sale of (A) its rights hereunder to acquire capital stock or (B) capital stock issued or issuable hereunder which might be made by it in reliance upon Rule 144 under
the Act may be made only in accordance with the terms and conditions of that Rule. 

  

	 	e.	 Accredited Investor. The Holder is an “accredited investor” within the meaning of the
Securities and Exchange Rule 501 of Regulation D, as presently in effect. 

 17. Market
Stand-off. To the extent requested by the Company or an underwriter of securities of the Company, the Holder and any permitted transferee thereof shall not, without the prior written consent of the
managing underwriters in an IPO, offer, sell, make any short sale of, grant or sell any option for the purchase of, lend, pledge, otherwise transfer or dispose of (directly or indirectly), enter into any swap, hedging transaction or other
arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership (whether any such transaction is described above or is to be settled by delivery of this Note, any

  
 5 

 
securities issued upon conversion of this Note (collectively, the “Securities”) or other securities, in cash, or otherwise), any Securities or other shares of stock of the
Company then owned by the Holder or any transferee thereof, or enter into an agreement to do any of the foregoing, for up to 180 days following the effective date of the registration statement filed under the Act for the IPO; provided that all
officers and directors of the Company and all holders of at least 1% of the Company’s equity securities purchased from the Company (other than securities purchased from the Company at any time after the date of this Note in a registered public
offering) are bound by and have entered into a similar agreement and the restriction on transfer has not been waived in whole or in part with respect to any such officers, directors or holders. For purposes of this paragraph, “Company”
includes any wholly owned subsidiary of the Company into which the Company merges or consolidates. The Company may place restrictive legends on the certificates representing the Securities subject to this paragraph and may impose stop transfer
instructions with respect to the Securities and such other shares of stock of the Holder and any transferee thereof (and the shares or securities of every other person subject to the foregoing restriction) until the end of such period. The Holder
and any transferee thereof shall enter into any agreement reasonably required by the underwriters for the IPO to implement the foregoing within any reasonable timeframe so requested. The underwriters for any IPO are intended third party
beneficiaries of this paragraph and shall have the right, power and authority to enforce the provisions of this paragraph as though they were parties hereto. 

18. Waiver and Amendment. Any provision of this Note may be amended, waived or modified with the written consent of both the Company
and the Holder. 
 19. Notices. Except as otherwise provided herein, any notice, demand, request, consent, approval, declaration,
service of process or other communication that is required, contemplated, or permitted under this Note or with respect to the subject matter hereof shall be in writing, and shall be deemed to have been validly served, given, delivered, and received
upon the earlier of: (i) the day of transmission by facsimile, email or hand delivery if transmission or delivery occurs on a business day at or before 5:00 pm in the time zone of the recipient, or, if transmission or delivery occurs on a non-business day or after such time, the first business day thereafter, or the first business day after deposit with an overnight express service or overnight mail delivery service; or (ii) the third (3rd) calendar day after deposit in the United States mails, with proper first class postage prepaid, and shall be addressed to the party to be notified as follows: 

If to the Holder: 
 Madryn Health Partners
(Cayman Master), LP 
 Attention: 

140 East 45th Street, 15th Floor 

New York, NY 10017 
 Attn: John
Ricciardi 
 Email: [***] 

  
 6 

 With a copy to (which shall not constitute notice): 

Moore & Van Allen PLLC 

100 North Tryon Street 
 Suite
4700 
 Charlotte, NC 28202-4003 

Attention: Tripp Monroe 
 Email:
[***] 
 If to the Company: 
 Intuity Medical,
Inc. 
 3500 W. Warren Ave. 

Fremont, CA 94538 
 Attention:
Chief Executive Officer, Chief Financial Officer 
 Telephone: [***] 

With a copy to (which shall not constitute notice): 

Latham & Watkins LLP 

Attention: Kathleen Wells 
 140
Scott Drive Menlo Park, CA 94025 Facsimile: [***] 
 Telephone: [***] 

Email: [***] 
 or to such other address as each
party may designate for itself by like notice. 
 20. Subordination. This Note shall be subject and subordinated in right of payment
to the obligations of the Company under the Loan Documents (as defined in that certain Credit Agreement, dated on or about the date hereof (the “Credit Agreement”), by and among the Company, certain subsidiaries of the Company as
guarantors, Madryn Health Partners, LP, as administrative agent, and the lenders from time to time party thereto) and no Holder shall exercise any rights or remedies hereunder until all Obligations (as defined in the Credit Agreement) have been paid
in full and the Commitments (as defined in the Credit Agreement) have been terminated. Notwithstanding anything else contained herein, this Note and all rights and remedies hereunder shall be subject to the Subordination Agreement, dated as of
May 24, 2021, by and between, among others, the Company, Madryn Health Partners, LP, as administrative agent, and the Holder. 
 21.
Entire Agreement. This Note constitutes the full and entire understanding and agreement between the parties with regard to the subjects hereof, and no party shall be liable or bound to any other party in any manner by any representations,
warranties, covenants and agreements except as specifically set forth herein. 

  
 7 

 22. Counterparts. This Note may be executed in two or more counterparts, each of
which shall be deemed an original, but all of which together shall constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic signature complying with the U.S. federal ESIGN
Act of 2000, Uniform Electronic Transactions Act or other applicable law) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes. 

23. Governing Law. All rights and obligations hereunder shall be governed by the laws of the State of New York, as applied to
agreements among New York residents, made and to be performed entirely within the State of New York, without giving effect to conflicts of law principles. 

[Signature page follows] 

  
 8 

 
			
	INTUITY MEDICAL, INC.
		
	By:	 	 /s/ Emory Anderson

	 Name: Emory Anderson
 Title:
President; Chief Executive Officer
  
 HOLDER:

 
 MADRYN HEALTH PARTNERS (CAYMAN

MASTER), LP
  

By: MADRYN HEALTH ADVISORS, LP,
 its General Partner

 
 By: MADRYN HEALTH ADVISORS GP, LLC,

its General Partner
  

Signature: /s/ Avinash
Amin                                

Avinash Amin, Member
  

140 East 45th Street, 15th Floor

New York, NY 10017

 [Signature page to Convertible Note]EX-10.6(a)

 Exhibit 10.6(a) 

AMENDED AND RESTATED 

INTUITY MEDICAL, INC. 

2002 STOCK OPTION PLAN 

PURPOSE 
 This
Amended and Restated Intuity Medical, Inc. 2002 Stock Option Plan is intended to advance the interests of the Company and its stockholders by attracting, retaining and motivating key personnel of the Company upon whose judgment, initiative and
effort the Company is largely dependent for the successful conduct of its business, and to encourage and enable such persons to acquire and retain a proprietary interest in the Company by ownership of its stock. 

ARTICLE I 

DEFINITIONS 
 (a)
“Award” means an award of an Option or Restricted Stock granted under the Plan. 
 (b) “Award Agreement” means an
agreement entered into between the Company and a Participant setting forth the terms and conditions of an Award granted to a Participant. 

(c) “Board” means the Board of Directors of the Company. 

(d) “Change in Control” shall have the meaning specified in Section 8.2 hereof. 

(e) “Code” means the Internal Revenue Code of 1986, as amended. 

(f) “Committee” means the Compensation Committee of the Board or any other committee of the Board appointed by the Board to
administer the Plan from time to time. 
 (g) “Common Stock” means the Company’s Common Stock, par value $.001 per share. 

(h) “Company” means Intuity Medical, Inc., a Delaware corporation. 

(i) “Consultant” means any consultant or adviser if: 

(i) The consultant or adviser renders bona fide services to the Company or any Subsidiary; 

(ii) The services rendered by the consultant or adviser are not in connection with the offer or sale of securities in a capital-raising
transaction and do not directly or indirectly promote or maintain a market for the Company’s securities; and 
 (iii) The consultant or
adviser is a natural person who has contracted directly with the Company or any Subsidiary to render such services. 
  

 (j) “Date of Grant” means the date on which an Award under the Plan is made by the
Committee, or such later date as the Committee may specify to be the effective date of the Award. 
 (k) “Eligible Person” means
any person who is an Employee, officer, director, Consultant, advisor or supplier of the Company or any Subsidiary, or any person who is determined by the Committee to be a prospective employee, officer, director, Consultant, advisor or supplier of
the Company or any Subsidiary. 
 (l) “Employee” means any person who is an employee of the Company or any Subsidiary;
provided, however, that with respect to Incentive Stock Options, “Employee” means any person who is considered an employee of the Company or any Subsidiary for purposes of Treasury Regulation § 1.421 7(h). 

(m) “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

(n) “Fair Market Value” of a share of Common Stock as of a given date means the fair market value per share of the Common Stock as
determined by the Board or the Committee in good faith. The Board or the Committee is authorized to make its determination as to the fair market value on the following basis: (i) if the Common Stock is not traded on a securities exchange and is
not quoted on the National Association of Securities Dealers, Inc.’s Automated Quotation System (“NASDAQ”), but is quoted on the Over The Counter Electronic Bulletin Board operated by NASDAQ, “Fair Market Value” shall be
determined by the Board or the Committee based on the mean between the average daily bid and average daily asked prices of the Common Stock on the applicable date, as published on such bulletin board; (ii) if the Common Stock is not traded on a
securities exchange and is quoted on NASDAQ, “Fair Market Value” shall be determined by the Board or the Committee based on the closing transaction price of the Common Stock on the applicable date, as reported on NASDAQ; (iii) if the
Common Stock is admitted to trading on a securities exchange, “Fair Market Value” shall be determined by the Board or the Committee based on the closing price of the Common Stock on the applicable date on such securities exchange; or
(iv) if the Common Stock is traded only otherwise than as described in (i), (ii) or (iii) above, or if the Common Stock is not publicly traded, “Fair Market Value” shall be the value determined by the Board or the Committee in
good faith in whatever manner it considers appropriate. 
 (o) “Incentive Stock Option” means a stock option granted under the Plan
that is intended to meet the requirements of section 422 of the Code and the regulations promulgated thereunder. 
 (p)
“Nonqualified Stock Option” means a stock option granted under the Plan that is not an Incentive Stock Option. 
 (q)
“Option” means an Incentive Stock Option or a Nonqualified Stock Option granted under the Plan. 
 (r) “Participant”
means an Eligible Person to whom an Award has been granted, which Award has not expired, under the Plan. 
 (s) “Plan” means this
Amended and Restated Intuity Medical, Inc. 2002 Stock Option Plan. 

  
 2 

 (t) “Restricted Stock” means an Award under Article VIII hereof entitling a
Participant to shares of Common Stock that are nontransferable and subject to forfeiture until specific conditions established by the Committee are satisfied. 

(u) “Subsidiary” means a subsidiary corporation of the Company, within the meaning of section 424(f) of the Code. 

ARTICLE II 
 SHARES OF
STOCK SUBJECT TO PLAN 
 Section 2.1 Number of Shares. Subject to adjustment pursuant to the provisions of
Section 2.2 hereof, the maximum aggregate number of shares of Common Stock which may be issued and sold hereunder shall be 14,693,853 shares. The shares of Common Stock to be delivered under the Plan will be made available from authorized but
unissued shares of Common Stock or issued shares that have been reacquired by the Company. To the extent that any Award payable in Common Stock is forfeited, cancelled, returned to the Company for failure to satisfy vesting requirements or upon the
occurrence of other forfeiture events, shares of Common Stock covered thereby will no longer be charged against the foregoing maximum share limitation and may again be made subject to Awards under the Plan pursuant to such limitation. 

Section 2.2 Adjustments. 

(i) In the event of a reorganization, recapitalization, stock split, stock dividend, combination of shares, merger or consolidation, or the
sale, conveyance, or other transfer by the Company of all or substantially all of its property, or any other change in the corporate structure or shares of the Company, pursuant to any of which events the then outstanding shares of Common Stock are
split up or combined, or are changed into, become exchangeable at the holder’s election for other shares of stock or any other consideration, or in the case of any other transaction described in section 424(a) of the Code, the Committee
may, in the manner and to the extent that it deems to be equitable and appropriate, make adjustments in (i) the number and kind of shares which may be issued pursuant to the Plan, (ii) the number and kind of shares subject to outstanding
Awards, and (iii) the exercise or purchase price for each share subject to outstanding Awards. In no event may any such change be made to an Incentive Stock Option which would constitute a “modification” within the meaning of
section 424(h)(3) of the Code without the consent of any affected Participant. 
 (ii) In the event of any transaction or event
described in Section 2.2(i) 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 laws, regulations or accounting principles, and whenever the Committee determines that 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 Award under the Plan, to facilitate such transactions or events or to give effect to such changes in laws, regulations or principles, the Committee, in its sole discretion and on such terms and
conditions as it deems appropriate, either by amendment of the terms of any outstanding Awards or by action taken prior to the occurrence of such transaction or event and either automatically or upon the Participant’s request, is hereby
authorized to take any one or more of the following actions: 

  
 3 

 (A) To provide for either (1) termination of any such Award in exchange for an amount
of cash and/or other property, if any, equal to the amount that would have been attained upon the exercise of such Award or realization of the Participant’s rights (and, for the avoidance of doubt, if as of the date of the occurrence of the
transaction or event described in this Section 2.2(ii) the Committee determines in good faith that no amount would have been attained upon the exercise of such Award or realization of the Participant’s rights, then such Award may be
terminated by the Company without payment) or (2) the replacement of such Award with other rights or property selected by the Committee in its sole discretion; 

(B) To provide that such Award be assumed by the successor or survivor corporation, or a parent or subsidiary thereof, or shall be substituted
for by similar options, rights or awards 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; and 

(C) To make adjustments in the number and type of shares of Common Stock (or other securities or property) subject to outstanding Awards, and
in the number and kind of outstanding Restricted Stock and/or in the terms and conditions of (including the grant or exercise price), and the criteria included in, outstanding options, rights and awards and options, rights and awards which may be
granted in the future; 
 (D) To provide that such Award shall be exercisable or payable or fully vested with respect to all shares covered
thereby, notwithstanding anything to the contrary in the Plan or the applicable Award Agreement; and 
 (E) To provide that the Award cannot
vest, be exercised or become payable after such event. 
 (iii) Without limiting Section 8.1 hereof, if a Change in Control occurs and a
Participant’s Awards are not converted, assumed or replaced by the surviving or successor entity or its parent or Subsidiary, then fifty percent (50%) of such Participant’s unvested Awards shall become fully exercisable and/or payable as
applicable, or the forfeiture restrictions shall lapse with respect to fifty percent (50%) of the Awards subject to such forfeiture restrictions, as applicable, immediately prior to such Change in Control. The Committee shall have sole discretion to
determine whether an Award has been converted, assumed or replaced by a successor in connection with a Change in Control. 
 ARTICLE III

 ADMINISTRATION 

Section 3.1 Committee Members. The Plan shall be administered by the Board or a Committee comprised of no fewer than two persons
selected by the Board. Solely to the extent deemed necessary or advisable by the Board, each Committee member shall meet the definition of a “nonemployee director” for purposes of such Rule 16b-3
under the Exchange Act and of an “outside director” under section 162(m) of the Code. The Board shall also have the authority to exercise the powers and duties of the Committee under the Plan. 

  
 4 

 Section 3.2 Committee Authority. Subject to the express provisions of the Plan,
the Committee shall have the authority, in its discretion, to determine the Eligible Persons to whom an Award shall be granted. Subject to the express provisions of the Plan, the Committee shall have the authority, in its discretion, to determine
the time or times at which an Award shall be granted, the number of shares of Common Stock subject to each Award, the exercise or purchase price of the shares subject to each Award, the time or times when each Award shall become vested, exercisable
or payable and the duration of the Award. Subject to the express provisions of the Plan, the Committee shall also have discretionary authority to interpret the Plan, to prescribe, amend and rescind rules and regulations relating to it, to determine
the provisions of each Award Agreement, and to make all the determinations necessary or advisable in the administration of the Plan. All such actions and determinations by the Committee shall be conclusively binding for all purposes and upon all
persons. No Committee member shall be liable for any action or determination made in good faith with respect to the Plan, any Award or any Award Agreement entered into hereunder. 

Section 3.3 Delegation of Authority. The Committee shall have the right, from time to time, to delegate to one or more officers of
the Company the authority of the Committee to grant and determine the terms and conditions of Awards granted under the Plan, subject to such limitations as the Committee shall determine; provided, however, that no such authority may be
delegated with respect to Awards granted to any member of the Board or any Participant who the Committee determines may be subject to Rule 16b-3 under the Exchange Act or section 162(m) of the Code. 

Section 3.4 Changes to Awards. The Committee shall have the authority to effect, at any time and from time to time, (i) the
cancellation of any or all outstanding Awards and the grant in substitution therefor of new Awards covering the same or different numbers of shares of Common Stock and having an exercise or purchase price which may be the same as or different than
the exercise or purchase price of the cancelled Awards, or (ii) the amendment of the terms of any and all outstanding Awards; provided, however that no such action by the Committee may adversely impair the rights of a Participant
(or any permitted transferee) under any outstanding Award without the consent of the Participant (or transferee). The Committee may in its discretion accelerate the vesting or exercisability of an Award at any time or on the basis of any specified
event. 
 ARTICLE IV 

ELIGIBILITY 
 All
Eligible Persons are eligible to be designated by the Committee to receive an Award under the Plan. The Committee has authority, in its sole discretion, to determine and designate from time to time those Eligible Persons who are to be granted
Awards, the types of Awards to be granted and the number of shares subject to the Awards that are granted under the Plan. 

  
 5 

 ARTICLE V 

OPTIONS 

Section 5.1 Grant of Option. An Option may be granted to any Eligible Person selected by the Committee. The grant of an Option
shall first be effective upon the date it is approved by the Committee, except to the extent the Committee shall specify a later date upon which the grant of an Option shall first be effective. Each Option shall be designated, at the discretion of
the Committee, as an Incentive Stock Option or a Nonqualified Stock Option; provided, however, that Incentive Stock Options may only be granted to Eligible Persons who are Employees of the Company. The Company and the Participant shall
execute an Award Agreement which shall set forth such terms and conditions of the Option as may be determined by the Committee to be consistent with the Plan, and which may include additional provisions and restrictions that are not inconsistent
with the Plan. 
 Section 5.2 Maximum Limit. Notwithstanding anything elsewhere in the Plan to the contrary, the maximum number
of shares of Common Stock that may be subject to Options granted to any Participant during any one calendar year shall be 2,500,000 shares, subject to adjustment as provided in Section 2.2 hereof. 

Section 5.3 Option Price. The exercise price under an Option shall be determined by the Committee; provided,
however, that the exercise price under an Option shall not be less than 100% of the Fair Market Value of a share of Common Stock on the Date of Grant and, in the case of an Incentive Stock Option granted to a holder of ten percent (10%) or
more of the Company’s voting power of all classes and series of the Company or any parent or Subsidiary, such exercise price purchase shall be at least 110% of the Fair Market Value of a share of Common Stock on the Date of Grant. 

Section 5.4 Vesting; Term of Option. An Option shall vest and become exercisable in the manner and subject to such conditions
provided by the Committee and set forth in the Award Agreement. The Committee, in its sole discretion, may accelerate the exercisability of any Option at any time. The period during which a vested Option may be exercised shall be determined by the
Committee, subject to a maximum term of ten years from the Date of Grant and such other limitations as may apply upon the termination of a Participant’s employment or other service or as otherwise specified by the Committee in the Award
Agreement. 
 Section 5.5 Option Exercise; Withholding. Subject to such terms and conditions as shall be specified in an Award
Agreement, an Option may be exercised in whole or in part at any time, with respect to whole shares only, by written notice of intent to exercise the Option with respect to a specified number of shares delivered to the Company at its principal
office, together with payment in full of aggregate exercise price therefor. Payment of the exercise price shall be made (i) in cash or by cash equivalent acceptable to the Company, (ii) at the discretion of the Committee, in Common Stock
that has been held by the Participant for such period of time as the Committee may deem appropriate for purposes of applicable accounting rules, valued at the Fair Market Value of such shares determined on the date of exercise, (iii) at the
discretion of the Committee, by delivery of a notice that the Participant has placed a market sell order (or similar instruction) with a broker with respect to shares of Common Stock then issuable upon exercise of the Option, and that the broker has
been directed to pay a sufficient portion of the net proceeds of the sale to the Company in satisfaction of the exercise price (conditioned upon the payment of such net proceeds), (iv) at the discretion of the Committee, by a combination of the
methods described above, or (v) by such other method as may be approved by the Committee and set forth in the Award Agreement. In addition to and at the time of payment of the exercise price, the Participant shall pay to the Company the full
amount of all federal and state withholding and other employment taxes required to be withheld in connection with such exercise, in any manner consistent with the foregoing that is approved by the Committee and set forth in the Award Agreement. 

  
 6 

 Section 5.6 Death. Unless otherwise provided by the Committee and set forth in
the Award Agreement, if a Participant who has been granted an Option shall die at any time after the Date of Grant and while he or she is an Eligible Person, the executor or administrator of the estate of the decedent, or the person or persons to
whom an Option shall have been validly transferred pursuant to will or the laws of descent and distribution, shall have the right, during the period ending one year after the date of such Participant’s death (subject to the term of the Option),
to exercise such Participant’s Option to the extent that it was exercisable at the date of such Participant’s death and shall not have been previously exercised. The Committee may determine at or after grant (but prior to death) to make
any portion of an Option that is not exercisable at the date of death immediately vested and exercisable. 
 Section 5.7
Disability. Unless otherwise provided by the Committee and set forth in the Award Agreement, if the employment or other service with the Company or any Subsidiary of a Participant who has been granted an Option shall be terminated as a result
of his or her permanent and total disability (within the meaning of section 22(e)(3) of the Code) at any time after the Date of Grant and while he or she is an Eligible Person, such Participant (or in the case of a Participant who is legally
incapacitated, his or her guardian or legal representative) shall have the right, during a period ending one year after the date of his or her disability (subject to the term of the Option), to exercise such Option to the extent that it was
exercisable at the date of such termination of employment or other service and shall not have been exercised. The Committee may determine at or after grant (but prior to disability) to make any portion of an Option that is not exercisable at the
date of termination of employment or other service due to disability immediately vested and exercisable. 
 Section 5.8 Termination
for Cause. Unless otherwise provided by the Committee and set forth in the Award Agreement, if the employment or other service with the Company or any Subsidiary of a Participant who has been granted an Option shall be terminated for cause, such
Participant’s right to exercise any unexercised portion of such Option shall immediately terminate and all rights thereunder shall cease. For purposes of this Section 5.8, termination for “cause” shall include, but not be limited
to, embezzlement or misappropriation of corporate funds, misconduct resulting in material injury to the Company or any Subsidiary, significant activities harmful to the reputation of the Company or any Subsidiary, a significant violation of Company
or Subsidiary policy, willful refusal to perform, or substantial disregard of, the duties properly assigned to such Participant, or a significant violation of any contractual, statutory or common law duty of loyalty to the Company or any Subsidiary,
or conduct, which in the reasonable opinion of the Board, materially and adversely affects the best interests of the Company or any of its affiliates, including, without limitation, the conviction of a felony or a crime of the third class, the
commission or attempted commission of any act of willful misconduct or dishonesty or malfeasance. Notwithstanding the foregoing, in the event such Participant is party to an employment (or similar) agreement with the Company or any Subsidiary that
defines the term “cause,” such definition shall apply for purpose of the Plan. The Committee shall have the power to determine whether the Participant has been terminated for cause and the date upon which such termination for cause occurs.
Any such determination shall be final, conclusive and binding upon the Participant. 

  
 7 

 Section 5.9 Other Termination of Service. Unless otherwise provided by the
Committee and set forth in the Award Agreement, if the employment or other service with the Company or any Subsidiary of a Participant who has been granted an Option shall be terminated for any reason other than death, permanent and total disability
or termination for cause, such Participant shall have the right, during the period ending 90 days after such termination (subject to the term of the Option), to exercise such Option to the extent that it was exercisable at the date of such
termination and shall not have been exercised. For purposes of this Section 5.9, a Participant shall not be considered to have terminated employment or other service with the Company or any Subsidiary until the expiration of the period of any
military, sick leave or other bona fide leave of absence, up to a maximum period of 90 days (or such greater period during which the Participant is guaranteed reemployment either by statute or contract). 

ARTICLE VI 

ADDITIONAL RULES FOR ISOS 

Section 6.1 Annual Limits. No Incentive Stock Option shall be granted to a Participant as a result of which the aggregate Fair
Market Value (determined as of the Date of Grant) of the stock with respect to which Incentive Stock Options are exercisable for the first time in any calendar year under the Plan and any other stock option plans of the Company, any Subsidiary, or
any parent corporation, would exceed $100,000, determined in accordance with section 422(d) of the Code. This limitation shall be applied by taking Options into account in the order in which granted. 

Section 6.2 Other Terms and Conditions. Any Incentive Stock Option granted hereunder shall contain such additional terms and
conditions, not inconsistent with the terms of this Plan, as are deemed necessary or desirable by the Committee, which terms, together with the terms of this Plan, shall be intended and interpreted to cause such Incentive Stock Option to qualify as
an “incentive stock option” under section 422 of the Code. Such terms shall include, if applicable, limitations on Incentive Stock Options granted to ten-percent owners of the Company as
determined under sections 422(b)(6) and 424(d) of the Code. An Award Agreement for an Incentive Stock Option may provide that such Option shall be treated as a Nonqualified Stock Option to the extent that certain requirements applicable to
“incentive stock options” under the Code shall not be satisfied. 
 Section 6.3 Disqualifying Dispositions. If shares
of Common Stock acquired by exercise of an Incentive Stock Option are disposed of within two years following the Date of Grant or one year following the transfer of such shares to the Participant upon exercise, the Participant shall, promptly
following such disposition, notify the Company in writing of the date and terms of such disposition and provide such other information regarding the disposition as the Committee may reasonably require. 

ARTICLE VII 

RESTRICTED STOCK 

Section 7.1 Grant of Restricted Stock. An Award of Restricted Stock to a Participant represents shares of Common Stock that are
issued subject to such restrictions on transfer and other incidents of ownership and such forfeiture conditions as the Committee may determine. The Committee may, in connection with any Award of Restricted Stock, require the payment of a specified
purchase price. 

  
 8 

 Section 7.2 Vesting Requirements. The restrictions imposed on shares granted
under an Award of Restricted Stock shall lapse in accordance with the vesting requirements specified by the Committee in the Award Agreement. Such vesting requirements may be based on the continued employment of the Participant with the Company or
its Subsidiaries for a specified time period or periods or on the attainment of specified business goals or measures established by the Committee in its sole discretion. 

Section 7.3 Restrictions. Shares granted under any Award of Restricted Stock may not be transferred, assigned or subject to any
encumbrance, pledge, or charge until all applicable restrictions are removed or have expired, unless otherwise allowed by the Committee. The Committee may require the Participant to enter into an escrow agreement providing that the certificates
representing the shares granted or sold under an Award of Restricted Stock will remain in the physical custody of an escrow holder until all restrictions are removed or have expired. Failure to satisfy any applicable restrictions shall result in the
subject shares of the Restricted Stock being forfeited and returned to the Company, with any purchase price paid by the Participant to be refunded, unless otherwise provided by the Committee. The Committee may require that certificates representing
the shares granted under an Award of Restricted Stock bear a legend making appropriate reference to the restrictions imposed. At the time that all applicable restrictions (other than as required under the Securities Act of 1933, as amended (the
“Securities Act”) or otherwise) are removed or have expired with respect to the Restricted Stock, a stock certificate for the appropriate number of shares of Common Stock, free of the restrictions and restrictive stock legend (other than
as required under the Securities Act or otherwise), shall be delivered to the Participant or his beneficiary or estate, as the case may be. A Participant may at any time request delivery from the Company, with respect to any portion of the
Restricted Stock granted pursuant to an Award as to which all applicable restrictions (other than as required under the Securities Act, or otherwise) are removed or have expired, a stock certificate for the appropriate number of shares of Common
Stock, free of restrictions and restrictive stock legend (other than as required under the Securities Act, or otherwise). 

Section 7.4 Rights as Stockholder. Subject to the foregoing provisions of this Section 7 and the applicable Award Agreement,
the Participant will have all rights of a stockholder with respect to the shares granted to him or her other under an Award of Restricted Stock, including the right to vote the shares and receive all dividends and other distributions paid or made
with respect thereto, unless the Committee determines otherwise at the time the Restricted Stock is granted. 
 Section 7.5
Section 83(b) Election. If a Participant makes an election pursuant to section 83(b) of the Code with respect to an Award of Restricted Stock, the Participant shall be required to promptly file a copy of such election
with the Company. 

  
 9 

 ARTICLE VIII 

CHANGE IN CONTROL 

Section 8.1 Change in Control. Upon a “Change in Control” of the Company (as defined below), each outstanding Option
held by a member of the Board who is not an employee, to the extent that it shall not otherwise have become vested and exercisable, shall automatically become immediately vested and exercisable, without regard to any otherwise applicable vesting
requirement, and any restricted period in effect shall immediately terminate as to all shares of Common Stock awarded to a member of the Board who is not an employee pursuant to an Award of Restricted Stock. Without limiting the foregoing, an Award
Agreement may or may not provide that, upon a Change in Control of the Company, (i) all or any portion of each outstanding Option, to the extent that it shall not otherwise have become vested and exercisable, shall automatically become
immediately vested and exercisable, without regard to any otherwise applicable vesting requirement, and (ii) any restricted period in effect shall automatically terminate as to all shares of Common Stock awarded pursuant to an Award of
Restricted Stock. 
 Section 8.2 Definition. For purposes of Section 8.1 hereof, a “Change in Control” of the
Company shall be deemed to have occurred if and when: 
 (i) individuals who during any 12 month period constitute the entire Board as of
the beginning of the period and any new directors whose election by the Board, or whose nomination for election by the Company’s stockholders, shall have been approved by a vote of at least a majority of the directors then in office who either
were directors at such time or whose election or nomination for election shall have been so approved shall cease for any reason to constitute a majority of the members of the Board; 

(ii) any person (as such term is used in Sections 13(d) and 14(d)(2) of the Exchange Act) shall become the beneficial owner (as defined
in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of securities of the Company representing 50% or more of the voting power of all then
outstanding securities of the Company having the right under ordinary circumstances to vote in an election of the Board (including, without limitation, any securities of the Company that any such person has the right to acquire pursuant to any
agreement, or upon exercise of conversion rights, warrants or options, or otherwise, shall be deemed beneficially owned by such person); excluding, however, acquisition of beneficial ownership resulting from the following: (1) any acquisition
directly from the Company, other than an acquisition by virtue of the exercise of a conversion privilege unless the security being so converted was itself acquired directly from the Company, (2) any acquisition by the Company and (3) any
acquisition by an employee benefit plan (or related trust) sponsored or maintained by the Company; 
 (iii) there shall be consummated any
corporate transaction, including a consolidation or merger, of the Company in which the Company is not the continuing or surviving corporation or pursuant to which shares of the Company’s capital stock are converted into cash, securities or
other property, other than a consolidation or merger of the Company in which the holders of the Company’s voting stock immediately prior to the consolidation or merger shall, upon consummation of the consolidation or merger, own at least 50% of
the voting stock of the surviving entity after such consolidation or merger; or 
 (iv) there shall be consummated any sale, lease, exchange
or transfer (in any single transaction or series of related transactions) of all or substantially all of the assets or business of the Company. 

  
 10 

 Notwithstanding the foregoing, a transaction shall not constitute a “Change in
Control” if: (w) its sole purpose is to change the state of the Company’s incorporation; (x) its sole purpose is to create a holding company that will be owned in substantially the same proportions by the persons who held the
Company’s securities immediately before such transaction; (y) it constitutes the Company’s initial public offering of its securities; or (z) it is a transaction effected primarily for the purpose of financing the Company with
cash (as determined by the Committee in its discretion and without regard to whether such transaction is effectuated by a merger, equity financing or otherwise). 

ARTICLE IX 
 AWARD
AGREEMENTS 
 Section 9.1 Form of Agreement. Each Award under this Plan shall be evidenced by an Award Agreement in a
form approved by the Committee setting forth the number of shares of Common Stock or other rights (as applicable) subject to the Award, the exercise or purchase price (if any) of the Award, the time or times at which an Award will become vested,
exercisable or payable, and the duration of the Award. The Award Agreement shall also set forth other material terms and conditions applicable to the Award as determined by the Committee consistent with the limitations of this Plan. Award Agreements
evidencing Incentive Stock Options shall contain such terms and conditions as may be necessary to meet the applicable provisions of section 422 of the Code. 

Section 9.2 Forfeiture Events. The Committee may specify in an Award Agreement that the Participant’s rights, payments and
benefits with respect to an Award shall be subject to reduction, cancellation, forfeiture or recoupment upon the occurrence of certain specified events, in addition to any otherwise applicable vesting or performance conditions of an Award. Such
events shall include, but shall not be limited to, termination of employment for cause, violation of material Company or Subsidiary policies, breach of noncompetition, confidentiality or other restrictive covenants that may apply to the Participant,
or other conduct by the Participant that is detrimental to the business or reputation of the Company or any Subsidiary. 
 ARTICLE X

 TRANSFER RESTRICTIONS 

Section 10.1 No Assignment or Transfer; Beneficiaries. No Awards granted under the Plan shall be assignable or transferable,
except by will, by the laws of descent and distribution or to a revocable trust. During the lifetime of a Participant, the Award shall be exercised only by such Participant or by his guardian or legal representative. Notwithstanding the foregoing,
the Committee may provide in the terms of an Award Agreement that the Participant shall have the right to designate a beneficiary or beneficiaries who shall be entitled to any rights, payments or other specified under an Award following the
Participant’s death. 
 Section 10.2 Repurchases. The Company in its discretion may provide that the Company may repurchase
shares acquired upon exercise of an Option or Award of Restricted Stock upon a Participant’s termination as an Eligible Person; provided, however that any such repurchase right shall be set forth in the applicable Option agreement or
Restricted Stock purchase agreement or in another agreement referred to in such agreement. 

  
 11 

 ARTICLE XI 

STOCK CERTIFICATES 

Section 11.1 Issuance of Certificates. Subject to Section 11.2 hereof, the Company shall issue a stock certificate in the
name of the Participant (or other permitted transferee in accordance with the provisions of the Plan) for the shares of Common Stock purchased by exercise or received upon grant of an Award (i) in the case of an Option, after due exercise and
payment of the exercise price and (ii) in the case of Restricted Stock, as described in Section 7.3 hereof. 
 Section 11.2
Conditions. The Company shall not be required to issue or deliver any certificate for shares of Common Stock in respect of an Award granted hereunder or any portion thereof prior to fulfillment of all of the following conditions: 

(i) the completion of any registration or other qualification of such shares, under any federal or state law or under the rulings or
regulations of the Securities and Exchange Commission or any other governmental regulatory body, that the Committee shall in its sole discretion deem necessary or advisable; 

(ii) the obtaining of any approval or other clearance from any federal or state governmental agency which the Committee shall in its sole
discretion determine to be necessary or advisable; 
 (iii) the lapse of such reasonable period of time following the exercise or grant of
an Award as the Committee from time to time may establish for reasons of administrative convenience; 
 (iv) satisfaction by the Participant
of all applicable withholding taxes or other withholding liabilities; and 
 (v) if required by the Committee, in its sole discretion, the
receipt by the Company from a Participant of (i) a representation in writing that the shares of Common Stock received upon grant of an Award are being acquired for investment and not with a view to distribution and (ii) such other
representations and warranties as are deemed necessary by counsel to the Company. 
 Section 11.3 Legends. The Company reserves
the right to legend any certificate for shares of Common Stock, conditioning sales of such shares upon compliance with applicable federal and state securities laws and regulations. 

ARTICLE XII 

EFFECTIVE DATE, TERMINATION AND AMENDMENT 

Section 12.1 Effective Date; Stockholder Approval. The Plan shall become effective on the date of its adoption by the Board;
provided, however, that no Incentive Stock Option or any Award granted to a Participant who is a resident of the State of California on the date of grant (“California Participant”) shall be exercisable by a Participant unless
and until the Plan shall have been approved by the stockholders of the Company, which approval shall be obtained within 12 months before or after the adoption of the Plan by the Board, and provided, further that if such approval has
not been obtained at the end of said twelve-month period, all Incentive Stock Options or Awards previously granted or awarded under the Plan to California Participants shall thereupon be cancelled and become null and void. 

  
 12 

 Section 12.2 Termination. The Plan shall terminate on the date immediately
preceding the tenth anniversary of the date the Plan, as amended herein, is adopted by the Board. The Board may, in its sole discretion and at any earlier date, terminate the Plan. Notwithstanding the foregoing, no termination of the Plan shall
adversely affect any Award theretofore granted without the consent of the Participant or the permitted transferee of the Award. 

Section 12.3 Amendment. The Board may at any time and from time to time and in any respect, amend or modify the Plan. No amendment
or modification of the Plan shall adversely affect any Award theretofore granted without the consent of the Participant or the permitted transferee of the Award. 

ARTICLE XIII 

MISCELLANEOUS 

Section 13.1 Employment or Other Service. Nothing in the Plan, in the grant of any Award or in any Award Agreement shall confer
upon any Eligible Person the right to continue in the capacity in which he or she is employed by or otherwise provides services to the Company or any Subsidiary. Notwithstanding anything contained in the Plan to the contrary, unless otherwise
provided in an Award Agreement or other agreement between the Participant and the Company, no Award shall be affected by any change of duties or position of the Participant (including a transfer to or from the Company or any Subsidiary), so long as
such Participant continues to be an Eligible Person. 
 Section 13.2 Rights as Stockholder. A Participant or the permitted
transferee of an Award shall have no rights as a stockholder with respect to any shares subject to such Award prior to the purchase of such shares by exercise of such Award (if required) and payment of the exercise or purchase price (if any) as
provided herein. Nothing contained herein shall create an obligation on the part of the Company to repurchase any shares of Common Stock purchased hereunder. 

Section 13.3 Tax Withholding. The Participant shall be responsible for payment of any taxes or similar charges required by law to
be withheld in connection with an Award, which shall be paid by the Participant on or prior to the event that results in taxable income in respect of the Award. The Award Agreement shall specify the manner in which the withholding obligation shall
be satisfied with respect to the particular type of Award. 
 Section 13.4 Other Compensation and Benefit Plans. The adoption of
the Plan shall not affect any other stock option or incentive or other compensation plans in effect for the Company or any Subsidiary, nor shall the Plan preclude the Company from establishing any other forms of incentive or other compensation for
employees of the Company or any Subsidiary. The amount of any compensation deemed to be received by a Participant pursuant to an Award shall not constitute compensation with respect to which any other employee benefits of such Participant are
determined, including, without limitation, benefits under any bonus, pension, profit sharing, life insurance or salary continuation plan, except as otherwise specifically determined by the Board or the Committee or provided by the terms of such
plan. 

  
 13 

 Section 13.5 Plan Binding on Successors. The Plan shall be binding upon the
Company, its successors and assigns, and the Participant, his or her executor, administrator and permitted transferees. 
 Section 13.6
Construction and Interpretation. Whenever used herein, nouns in the singular shall include the plural, and the masculine pronoun shall include the feminine gender. Headings of Articles and Sections hereof are inserted for convenience and
reference and constitute no part of the Plan. 
 Section 13.7 Severability. If any provision of the Plan or any Award Agreement
shall be determined to be illegal or unenforceable by any court of law in any jurisdiction, the remaining provisions hereof and thereof shall be severable and enforceable in accordance with their terms, and all provisions shall remain enforceable in
any other jurisdiction. 
 Section 13.8 Governing Law. The validity and construction of this Plan and of the Award Agreements
shall be governed by the laws of the State of Delaware. 
 Section 13.9 Section 162(m) IPO Transition Rule.
The Plan is intended to qualify for the transition relief provided under Treasury Regulation §1.162 27(f). Accordingly, all compensation realized by Participants in connection with Awards granted under the Plan within the reliance period
described therein is intended to be exempt from the limitation on tax deductibility under section 162(m). For purposes of the Plan, the reliance period will expire on the earlier of (i) the expiration of the Plan, (ii) a
“material modification” of the Plan (within the meaning of Treasury Regulation §1.162-27(h)(1)(iii)), (iii) the issuance of all Common Stock that has been allocated under the Plan, or
(iv) the first meeting of Company stockholders at which directors are to be elected that occurs after the close of the third calendar year following the calendar year in which an initial public offering of the Common Stock occurs. 

Section 13.10 Information to Participants. Prior to the Company’s initial public offering and solely to the extent required
by Section 260.140.46 of Title 10 of the California Code of Regulations, the Company shall provide to each Participant and to each individual who acquires shares pursuant to the Plan, not less frequently than annually during the period such
Participant or purchaser has one or more Options or Awards of Restricted Stock outstanding, and, in the case of an individual who acquires shares pursuant to the Plan, during the period such individual owns such shares, copies of annual financial
statements. Notwithstanding the preceding sentence, the Company shall not be required to provide such statements to key employees whose duties in connection with the Company assure their access to equivalent information. In addition, this
information requirement shall not apply to the Plan to the extent that it complies with all conditions of Rule 701 of the Securities Act (“Rule 701”) as determined by the Committee; provided that for purposes of determining such
compliance, any registered domestic partner shall be considered a “family member” as that term is defined in Rule 701. 

  
 14 

 Section 13.11 Investment Intent. The Company may require a Participant, as a
condition of exercising or acquiring stock under any Option or Award of Restricted Stock, (i) to give written assurances satisfactory to the Company as to the Participant’s knowledge and experience in financial and business matters and/or
to employ a purchaser representative reasonably satisfactory to the Company who is knowledgeable and experienced in financial and business matters and that he or she is capable of evaluating, alone or together with the purchaser representative, the
merits and risks of exercising the Option or Award of Restricted Stock; and (ii) to give written assurances satisfactory to the Company stating that the participant is acquiring the stock subject to the Option or Award of Restricted Stock for
the participant’s own account and not with any present intention of selling or otherwise distributing the stock. The foregoing requirements, and any assurances given pursuant to such requirements, shall be inoperative if (A) the issuance
of the shares upon the exercise or acquisition of stock under the applicable Option or Award of Restricted Stock has been registered under a then currently effective registration statement under the Securities Act or (B) as to any particular
requirement, a determination is made by counsel for the Company that such requirement need not be met in the circumstances under the then applicable securities laws. The Company may, upon advice of counsel to the Company, place legends on stock
certificates issued under the Plan as such counsel deems necessary or appropriate in order to comply with applicable securities laws, including, but not limited to, legends restricting the transfer of the stock. 

  
 15

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00333-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00333-of-00352.parquet"}]]