Document:

EX-10.5

 Exhibit 10.5 

SQUARE, INC. 
 EXECUTIVE
INCENTIVE COMPENSATION PLAN 
 1. Purposes of the Plan. The Plan is intended to increase shareholder value and the success of the
Company by motivating Employees to (a) perform to the best of their abilities, and (b) achieve the Company’s objectives. 

2. Definitions. 
 (a)
“Actual Award” means as to any Performance Period, the actual award (if any) payable to a Participant for the Performance Period, subject to the Committee’s authority under Section 3(d) to modify the award. 

(b) “Affiliate” means any corporation or other entity (including, but not limited to, partnerships and joint
ventures) controlled by the Company. 
 (c) “Board” means the Board of Directors of the Company. 

(d) “Bonus Pool” means the pool of funds available for distribution to Participants. Subject to the terms of the Plan, the
Committee establishes the Bonus Pool for each Performance Period. 
 (e) “Code” means the Internal Revenue Code of 1986, as
amended. Reference to a specific section of the Code or regulation thereunder will include such section or regulation, any valid regulation promulgated thereunder, and any comparable provision of any future legislation or regulation amending,
supplementing, or superseding such section or regulation. 
 (f) “Committee” means the committee appointed by the Board
(pursuant to Section 5) to administer the Plan. Unless and until the Board otherwise determines, the Board’s Compensation Committee will be the Committee administering the Plan. 

(g) “Company” means Square, Inc., a Delaware corporation, or any successor thereto. 

(h) “Disability” means a permanent and total disability determined in accordance with uniform and nondiscriminatory standards
adopted by the Committee from time to time. 
 (i) “Employee” means any executive, officer, or key employee of the Company
or of an Affiliate, whether such individual is so employed at the time the Plan is adopted or becomes so employed subsequent to the adoption of the Plan. 

(j) “Fiscal Year” means the fiscal year of the Company. 

 (k) “Participant” means as to any Performance Period, an Employee who has been
selected by the Committee for participation in the Plan for that Performance Period. 
 (l) “Performance Period” means the
period of time for the measurement of the performance criteria that must be met to receive an Actual Award, as determined by the Committee in its sole discretion. A Performance Period may be divided into one or more shorter periods if, for example,
but not by way of limitation, the Committee desires to measure some performance criteria over 12 months and other criteria over 3 months. 

(m) “Plan” means this Executive Incentive Compensation Plan, as set forth in this instrument (including any appendix
hereto) and as hereafter amended from time to time. 
 (n) “Target Award” means the target award, at 100% of target
level performance achievement, payable under the Plan to a Participant for the Performance Period, as determined by the Committee in accordance with Section 3(b). 

(o) “Termination of Service” means a cessation of the employee-employer relationship between an Employee and the Company or
an Affiliate for any reason, including, but not by way of limitation, a termination by resignation, discharge, death, Disability, retirement, or the disaffiliation of an Affiliate, but excluding any such termination where there is a simultaneous
reemployment by the Company or an Affiliate. 
 3. Selection of Participants and Determination of Awards. 

(a) Selection of Participants. The Committee, in its sole discretion, will select the Employees who will be Participants for any
Performance Period. Participation in the Plan is in the sole discretion of the Committee, on a Performance Period by Performance Period basis. Accordingly, an Employee who is a Participant for a given Performance Period in no way is guaranteed or
assured of being selected for participation in any subsequent Performance Period or Performance Periods. 
 (b) Determination of Target
Awards. The Committee, in its sole discretion, will establish a Target Award for each Participant (which may be expressed as a percentage of a Participant’s average annual base salary for the Performance Period or a fixed dollar amount or
such other amount or based on such other formula as the Committee determines). 
 (c) Bonus Pool. Each Performance Period, the
Committee, in its sole discretion, will establish a Bonus Pool, which pool may be established before, during or after the applicable Performance Period. Actual Awards will be paid from the Bonus Pool. 

(d) Discretion to Modify Awards. Notwithstanding any contrary provision of the Plan, the Committee may, in its sole discretion and at
any time, 

  
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(i) increase, reduce or eliminate a Participant’s Actual Award, and/or (ii) increase, reduce or eliminate the amount allocated to the Bonus Pool. The Actual Award may be below, at
or above the Target Award, in the Committee’s discretion. The Committee may determine the amount of any increase, reduction or elimination on the basis of such factors as it deems relevant, and will not be required to establish any allocation
or weighting with respect to the factors it considers. 
 (e) Discretion to Determine Criteria. Notwithstanding any contrary
provision of the Plan, the Committee, in its sole discretion, will determine the performance goals (if any) applicable to any Target Award (or portion thereof) which may include, without limitation, (i) attainment of research and
development milestones, (ii) sales bookings, (iii) business divestitures and acquisitions, (iv) cash flow, (v) cash position, (vi) earnings (which may include any calculation of earnings, including but not limited to
earnings before interest and taxes, earnings before taxes, earnings before interest, taxes, depreciation and amortization and net earnings), (vii) earnings per share, (viii) net income, (ix) net profit, (x) net sales,
(xi) operating cash flow, (xii) operating expenses, (xiii) operating income, (xiv) operating margin, (xv) overhead or other expense reduction, (xvi) product defect measures, (xvii) product release timelines,
(xviii) productivity, (xix) profit, (xx) return on assets, (xxi) return on capital, (xxii) return on equity, (xxiii) return on investment, (xxiv) return on sales, (xxv) revenue, (xxvi) revenue growth,
(xxvii) sales results, (xviii) sales growth, (xxix) stock price, (xxx) time to market, (xxxi) total stockholder return, (xxxii) working capital, and (xxxiii) individual objectives such as MBOs, peer reviews or
other subjective or objective criteria. As determined by the Committee, the performance goals may be based on generally accepted accounting principles (“GAAP”) or non-GAAP results and any actual results may be adjusted by the
Committee for one-time items or unbudgeted or unexpected items and/or payments of Actual Awards under the Plan when determining whether the performance goals have been met. The goals may be on the basis of any factors the Committee determines
relevant, and may be on an individual, divisional, business unit or Company-wide basis. Any criteria used may be measured on such basis as the Committee determines, including but not limited to, as applicable, (A) in absolute terms, (B) in
combination with another performance goal or goals (for example, but not by way of limitation, as a ratio or matrix), (C) in relative terms (including, but not limited to, results for other periods, passage of time and/or against another
company or companies or an index or indices), (D) on a per-share basis, (E) against the performance of the Company as a whole or a segment of the Company and/or (F) on a pre-tax or after-tax
basis. The performance goals may differ from Participant to Participant and from award to award. Failure to meet the goals will result in a failure to earn the Target Award, except as provided in Section 3(d). The Committee also may determine
that a Target Award (or portion thereof) will not have a performance goal associated with it but instead will be granted (if at all) in the sole discretion of the Committee. 

4. Payment of Awards. 

(a) Right to Receive Payment. Each Actual Award will be paid solely from the general assets of the Company. Nothing in this Plan will be
construed to 

  
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create a trust or to establish or evidence any Participant’s claim of any right other than as an unsecured general creditor with respect to any payment to which he or she may be entitled.

 (b) Timing of Payment. Payment of each Actual Award shall be made as soon as practicable after the end of the Performance Period
to which the Actual Award relates and after the Actual Award is approved by the Committee, but in no event later than the later of (i) the fifteenth (15th) day of the third (3rd) month of the Fiscal Year immediately following the
Fiscal Year in which the Participant’s Actual Award is first no longer subject to a substantial risk of forfeiture or (ii) March 15 of the calendar year immediately following the calendar year in which the Participant’s Actual Award
is first no longer subject to a substantial risk of forfeiture. Unless otherwise determined by the Committee, to earn an Actual Award a Participant must be employed by the Company or any Affiliate on the date the Actual Award is paid. 

It is the intent that this Plan be exempt from or comply with the requirements of Code Section 409A so that none of the payments to be
provided hereunder will be subject to the additional tax imposed under Code Section 409A, and any ambiguities herein will be interpreted to be so exempt or so comply. Each payment under this Plan is intended to constitute a separate payment for
purposes of Treasury Regulation Section 1.409A-2(b)(2). 
 (c) Form of Payment. Each Actual Award generally will be paid in cash
(or its equivalent) in a single lump sum. The Committee reserves the right, in its sole discretion, to settle an Actual Award with a grant of an equity award under the Company’s then-current equity compensation plan. 

(d) Payment in the Event of Death or Disability. If a Participant dies or is terminated due to his or her Disability prior to the
payment of an Actual Award that the Committee has determined will be paid for a prior Performance Period, the Actual Award will be paid to his or her estate or to the Participant, as the case may be, subject to the Committee’s discretion to
reduce or eliminate any Actual Award otherwise payable. 
 5. Plan Administration. 

(a) Committee is the Administrator. The Plan will be administered by the Committee. The Committee will consist of not less than
2 members of the Board. The members of the Committee will be appointed from time to time by, and serve at the pleasure of, the Board. 

(b) Committee Authority. It will be the duty of the Committee to administer the Plan in accordance with the Plan’s provisions. The
Committee will have all powers and discretion necessary or appropriate to administer the Plan and to control its operation, including, but not limited to, the power to (i) determine which Employees will be granted awards, (ii) prescribe
the terms and conditions of awards, (iii) interpret the Plan and the awards, (iv) adopt such procedures and subplans as are necessary or 

  
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appropriate to permit participation in the Plan by Employees who are foreign nationals or employed outside of the United States, (v) adopt rules for the administration, interpretation and
application of the Plan as are consistent therewith, and (vi) interpret, amend or revoke any such rules. 
 (c) Decisions
Binding. All determinations and decisions made by the Committee, the Board, and/or any delegate of the Committee pursuant to the provisions of the Plan will be final, conclusive, and binding on all persons, and will be given the maximum
deference permitted by law. 
 (d) Delegation by Committee. The Committee, in its sole discretion and on such terms and conditions as
it may provide, may delegate all or part of its authority and powers under the Plan to one or more directors and/or officers of the Company. 

(e) Indemnification. Each person who is or will have been a member of the Committee will be indemnified and held harmless by the
Company against and from (i) any loss, cost, liability, or expense that may be imposed upon or reasonably incurred by him or her in connection with or resulting from any claim, action, suit, or proceeding to which he or she may be a party or in
which he or she may be involved by reason of any action taken or failure to act under the Plan or any award, and (ii) from any and all amounts paid by him or her in settlement thereof, with the Company’s approval, or paid by him or her in
satisfaction of any judgment in any such claim, action, suit, or proceeding against him or her, provided he or she will give the Company an opportunity, at its own expense, to handle and defend the same before he or she undertakes to handle and
defend it on his or her own behalf. The foregoing right of indemnification will not be exclusive of any other rights of indemnification to which such persons may be entitled under the Company’s Certificate of Incorporation or Bylaws, by
contract, as a matter of law, or otherwise, or under any power that the Company may have to indemnify them or hold them harmless. 
 6.
General Provisions. 
 (a) Tax Withholding. The Company will withhold all applicable taxes from any Actual Award, including any
federal, state, and local taxes (including, but not limited to, the Participant’s FICA and SDI obligations). 
 (b) No Effect on
Employment or Service. Nothing in the Plan will interfere with or limit in any way the right of the Company to terminate any Participant’s employment or service at any time, with or without cause. For purposes of the Plan, transfer of
employment of a Participant between the Company and any one of its Affiliates (or between Affiliates) will not be deemed a Termination of Service. Employment with the Company and its Affiliates is on an at-will basis only. The Company expressly
reserves the right, which may be exercised at any time and without regard to when during a Performance Period such exercise occurs, to terminate any individual’s employment with or without cause, and to treat him or her without regard to the
effect that such treatment might have upon him or her as a Participant. 

  
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 (c) Participation. No Employee will have the right to be selected to receive an award
under this Plan, or, having been so selected, to be selected to receive a future award. 
 (d) Successors. All obligations of the
Company under the Plan, with respect to awards granted hereunder, will be binding on any successor to the Company, whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise, of all or
substantially all of the business or assets of the Company. 
 (e) Nontransferability of Awards. No award granted under the Plan may
be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, other than by will, by the laws of descent and distribution. All rights with respect to an award granted to a Participant will be available during his or her lifetime
only to the Participant. 
 7. Amendment, Termination, and Duration. 

(a) Amendment, Suspension, or Termination. The Board or the Committee, in its sole discretion, may amend or terminate the Plan, or any
part thereof, at any time and for any reason. The amendment, suspension, or termination of the Plan will not, without the consent of the Participant, alter or impair any rights or obligations under any Actual Award theretofore earned by such
Participant. No award may be granted during any period of suspension or after termination of the Plan. 
 (b) Duration of Plan. The
Plan will commence on the date first adopted by the Board or the Compensation Committee of the Board, and subject to Section 7(a) (regarding the Board’s or the Committee’s right to amend or terminate the Plan), will remain in
effect thereafter until terminated. 
 8. Legal Construction. 

(a) Gender and Number. Except where otherwise indicated by the context, any masculine term used herein also will include the feminine;
the plural will include the singular and the singular will include the plural. 
 (b) Severability. In the event any provision of the
Plan will be held illegal or invalid for any reason, the illegality or invalidity will not affect the remaining parts of the Plan, and the Plan will be construed and enforced as if the illegal or invalid provision had not been included. 

(c) Requirements of Law. The granting of awards under the Plan will be subject to all applicable laws, rules and regulations, and to
such approvals by any governmental agencies or national securities exchanges as may be required. 
 (d) Governing Law. The Plan and
all awards will be construed in accordance with and governed by the laws of the State of California, but without regard to its conflict of law provisions. 

  
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 (e) Bonus Plan. The Plan is intended to be a “bonus program” as defined under
U.S. Department of Labor regulation 2510.3-2(c) and will be construed and administered in accordance with such intention. 

(f) Captions. Captions are provided herein for convenience only, and will not serve as a basis for interpretation or construction of
the Plan. 

  
 -7-EX-10.7

 Exhibit 10.7 

SQUARE, INC. 
 CHANGE OF
CONTROL AND SEVERANCE AGREEMENT 
 This Change of Control and Severance Agreement (the “Agreement”) is made between
Square, Inc. (the “Company”) and                      (the “Executive”), effective on the date of the
Company’s signature below (the “Effective Date”). 
 The Agreement provides certain protections to the Executive in
connection with a change of control of Square or in connection with the involuntary termination of the Executive’s employment under the circumstances described in the Agreement. 

The Company and the Executive agree as follows: 

1. Term of Agreement. The Agreement will terminate when all of the obligations under the Agreement have been satisfied. 

2. At-Will Employment. The Company and the Executive acknowledge that the Executive’s employment is and will continue to be
at-will, as defined under applicable law, except if otherwise specifically provided under the confirmatory employment letter between the Company and the Executive dated
                     (the “Confirmatory Letter”) or any subsequently adopted written formal employment agreement between the Company
and the Executive. 
 3. Change of Control Benefits. If the Executive remains employed with the Company Group through the closing of
a Triggering Event (as defined in the Company’s 2009 Stock Plan, as amended), then the vesting of any option to purchase shares of the Company’s common stock (or unvested shares acquired through the early exercise of any option grants)
that is unvested and outstanding as of the Effective Date will be accelerated as if the Executive had been employed for an additional 12 months upon such event. For the avoidance of doubt, if any portion of such option or unvested shares, as
applicable, remains unvested immediately following the Triggering Event (after taking into account the vesting acceleration provided in the previous sentence), such award will continue to vest on a monthly basis immediately following the Triggering
Event as if the original vesting schedule was reduced by 12 months, subject to the Executive’s continued employment with the Company Group, and further subject to any vesting acceleration rights under Section 4(b)(iv) of this Agreement. 

4. Severance Benefits. 

(a) Non-COC Qualified Termination. On a Non-COC Qualified Termination, the Executive will be eligible to receive the following payment
and benefits from the Company: 
 (i) Salary Severance. A lump-sum payment equal to 75% of the Executive’s Base Salary. 

(ii) Bonus Severance. A lump-sum payment equal to (A) the annual bonus that the Executive would have earned for the fiscal year
in which the Executive’s Non-COC Qualified Termination occurs had the Executive remained employed with the Company Group through the date the Executive was required to continue employment with the Company Group in order to be eligible to
receive such bonus multiplied by (B) the fraction obtained by dividing (x) the number of full months the Executive has worked during the performance period for such bonus by (y) the total number of months in such performance period,
which will be paid at the same time as other similarly situated employees of the Company receive bonus payments for the fiscal year but in no event later than March 15 of the year following the year of the Non-COC Qualified Termination. 

 (iii) COBRA Payment. A taxable lump-sum payment equal to 9 multiplied by the monthly
COBRA premium that the Executive would be required to pay to continue group health coverage for the Executive and the Executive’s eligible covered dependents in effect on the date of termination of employment, based on the premium for the first
month of COBRA coverage. Such cash payment will be made regardless of whether the Executive elects COBRA continuation coverage. 
 (iv)
Equity Vesting. Only if the Non-COC Qualified Termination is due to the Executive’s death or Disability, 100% of the then-unvested shares subject to each of the Executive’s then-outstanding equity awards will immediately vest and,
in the case of options and stock appreciation rights, will become exercisable (for avoidance of doubt, no more than 100% of the shares subject to the then-outstanding portion of an equity award may vest and become exercisable under this provision).
In the case of equity awards with performance-based vesting, all performance goals and other vesting criteria will be deemed achieved at 100% of target levels. Any restricted stock units, performance shares, performance units, and/or similar full
value awards that vest under this paragraph will be settled on the 61st day following the Executive’s death or Disability. 

(b) COC Qualified Termination. On a COC Qualified Termination, the Executive will be eligible to receive the following payment and
benefits from the Company: 
 (i) Salary Severance. A lump-sum payment equal to 100% of the Executive’s Base Salary. 

(ii) Bonus Severance. A lump-sum payment equal to 100% of the Executive’s target annual bonus as in effect for the fiscal year in
which the COC Qualified Termination occurs. 
 (iii) COBRA Payment. A taxable lump-sum payment equal to 12 multiplied by the monthly
COBRA premium that the Executive would be required to pay to continue group health coverage for the Executive and the Executive’s eligible covered dependents in effect on the date of termination of employment, based on the premium for the first
month of COBRA coverage. Such cash payment will be made regardless of whether the Executive elects COBRA continuation coverage. 
 (iv)
Equity Vesting. 100% of the then-unvested shares subject to each of the Executive’s then-outstanding equity awards will immediately vest and, in the case of options and stock appreciation rights, will become exercisable (for avoidance of
doubt, no more than 100% of the shares subject to the then-outstanding portion of an equity award may vest and become exercisable under this provision). In the case of equity awards with performance-based vesting, all performance goals and other
vesting criteria will be deemed achieved at the greater of actual performance or 100% of target levels. Any restricted stock units, performance shares, performance units, and/or similar full value awards that vest under this paragraph will be
settled on the 61st day following the COC Qualified Termination. For the avoidance of doubt, if the Executive’s Qualified Termination occurs prior to a Change of Control, then any unvested
portion of the Executive’s then-outstanding equity awards will remain outstanding for 3 months or the occurrence of a Change of Control (whichever is earlier) so that any additional benefits due on a COC Qualified Termination can be
provided if a Change of Control occurs within 3 months following the Qualified Termination (provided that in no event will the Executive’s stock options or similar equity awards remain outstanding beyond the equity award’s maximum term to
expiration). In such case, if no Change of Control occurs within 3 months following a Qualified Termination, any unvested portion of the Executive’s equity awards automatically will be forfeited permanently on the 3-month anniversary of the
Qualified Termination without having vested. 

  
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 (c) Termination other than a Qualified Termination. If the termination of Executive’s
employment with the Company Group is not a Qualified Termination, then the Executive will not be entitled to receive severance or other benefits. 

(d) Non-Duplication of Payment or Benefits. If (i) the Executive’s Qualified Termination occurs prior to a Change of Control
that qualifies Executive for severance payments and benefits under Section 4(a) and (ii) a Change of Control occurs within the 3-month period following Executive’s Qualified Termination
that qualifies Executive for severance payments and benefits under Section 4(b), then (A) the Executive will cease receiving any further payments or benefits under Section 4(a) and (B) the Executive will receive the payments and
benefits under Section 4(b) instead but each of the payments and benefits otherwise payable under Section 4(b) will be offset by the corresponding payments or benefits the Executive already received under Section 4(a). 

(e) Death of the Executive. If the Executive dies before all payments or benefits the Executive is entitled to receive under the
Agreement have been paid, such unpaid amounts will be paid to the Executive’s designated beneficiary, if living, or otherwise to the Executive’s personal representative in a lump-sum payment as soon as possible following the
Executive’s death. 
 (f) Transfer between the Company Group. For purposes of the Agreement, if the Executive is involuntarily
transferred from one member of the Company Group to another, such transfer will not be a termination without Cause but may give the Executive the ability to resign for Good Reason. 

(g) Exclusive Remedy. In the event of a termination of the Executive’s employment with the Company Group, the provisions of the
Agreement are intended to be and are exclusive and in lieu of any other rights or remedies to which the Executive may otherwise be entitled, whether at law, tort or contract, in equity. The Executive will be entitled to no benefits, compensation or
other payments or rights upon termination of employment other than those benefits expressly set forth in the Agreement. 
 5. Accrued
Compensation. On any termination of the Executive’s employment with the Company Group, the Executive will be entitled to receive all accrued but unpaid vacation, expense reimbursements, wages, and other benefits due to the Executive under
any Company-provided plans, policies, and arrangements. 
 6. Conditions to Receipt of Severance. 

(a) Separation Agreement and Release of Claims. The Executive’s receipt of any severance payments or benefits upon the
Executive’s Qualified Termination under Section 4 is subject to the Executive signing and not revoking the Company’s then-standard separation agreement and release of claims (which may include an agreement not to disparage any member
of the Company Group, non-solicit provisions, and other standard terms and conditions) (the “Release” and such requirement, the “Release Requirement”), which must become effective and irrevocable no later than the
60th day following the Executive’s Qualified Termination (the “Release Deadline”). If the Release does not become effective and irrevocable by the Release Deadline, the Executive will forfeit any right to severance payments or
benefits under Section 4. In no event will 

  
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severance payments or benefits under Section 4 be paid or provided until the Release actually becomes effective and irrevocable. None of the severance payments and benefits payable upon such
Executive’s Qualified Termination under Section 4 will be paid or otherwise provided prior to the 60th day following the Executive’s Qualified Termination. Except to the extent that payments are delayed under Section 6(b), on the
first regular payroll pay day following the 60th day following the Executive’s Qualified Termination, the Company will pay or provide the Executive the severance payments and benefits that the Executive would otherwise have received under
Section 4 on or prior to such date, with the balance of such severance payments and benefits being paid or provided as originally scheduled. 

(b) Section 409A. The Company intends that all payments and benefits provided under the Agreement or otherwise are exempt from, or
comply with, the requirements of Section 409A of the Code and any guidance promulgated under Section 409A of the Code (collectively, “Section 409A”) so that none of the payments or benefits will be subject to the
additional tax imposed under Section 409A, and any ambiguities herein will be interpreted in accordance with this intent. No payment or benefits to be paid to the Executive, if any, under the Agreement or otherwise, when considered together
with any other severance payments or separation benefits that are considered deferred compensation under Section 409A (together, the “Deferred Payments”) will be paid or otherwise provided until the Executive has a
“separation from service” within the meaning of Section 409A. If, at the time of the Executive’s termination of employment, the Executive is a “specified employee” within the meaning of Section 409A, then the
payment of the Deferred Payments will be delayed to the extent necessary to avoid the imposition of the additional tax imposed under Section 409A, which generally means that the Executive will receive payment on the first payroll date that
occurs on or after the date that is 6 months and 1 day following the Executive’s termination of employment. The Company reserves the right to amend the Agreement as it considers necessary or advisable, in its sole discretion and without the
consent of the Executive or any other individual, to comply with any provision required to avoid the imposition of the additional tax imposed under Section 409A or to otherwise avoid income recognition under Section 409A prior to the
actual payment of any benefits or imposition of any additional tax. Each payment, installment, and benefit payable under the Agreement is intended to constitute a separate payment for purposes of U.S. Treasury Regulation Section 1.409A-2(b)(2).
In no event will any member of the Company Group reimburse the Executive for any taxes that may be imposed on the Executive as a result of Section 409A. 

7. Limitation on Payments. 

(a) Reduction of Severance Benefits. If any payment or benefit that the Executive would receive from any Company Group member or any
other party whether in connection with the provisions herein or otherwise (the “Payment”) would (i) constitute a “parachute payment” within the meaning of Section 280G of the Code and (ii) but for this
sentence, be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then such Payment will be equal to the Best Results Amount. The “Best Results Amount” will be either (x) the
full amount of such Payment or (y) such lesser amount as would result in no portion of the Payment being subject to the Excise Tax, whichever of the foregoing amounts, taking into account the applicable federal, state and local employment
taxes, income taxes and the Excise Tax, results in the Executive’s receipt, on an after-tax basis, of the greater amount. If a reduction in payments or benefits constituting parachute payments is necessary so that the Payment equals the Best
Results Amount, reduction will occur in the following order: reduction of cash payments; cancellation of accelerated vesting of stock awards; reduction of employee benefits. In the event that acceleration of vesting of stock award compensation is to
be reduced, such acceleration of vesting will be 

  
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cancelled in the reverse order of the date of grant of the Executive’s equity awards unless the Executive elects in writing a different order for cancellation. The Executive will be solely
responsible for the payment of all personal tax liability that is incurred as a result of the payments and benefits received under the Agreement, and the Executive will not be reimbursed by any member of the Company Group for any such payments. 

(b) Determination of Excise Tax Liability. The Company will select a professional services firm to make all of the determinations
required to be made under these paragraphs relating to parachute payments. The Company will request that firm provide detailed supporting calculations both to the Company and the Executive prior to the date on which the event that triggers the
Payment occurs if administratively feasible, or subsequent to such date if events occur that result in parachute payments to the Executive at that time. For purposes of making the calculations required under these paragraphs relating to parachute
payments, the firm may make reasonable assumptions and approximations concerning applicable taxes and may rely on reasonable, good faith determinations concerning the application of the Code. The Company and the Executive will furnish to the firm
such information and documents as the firm may reasonably request in order to make a determination under these paragraphs relating to parachute payments. The Company will bear all costs the firm may reasonably incur in connection with any
calculations contemplated by these paragraphs relating to parachute payments. Any such determination by the firm will be binding upon the Company and the Executive, and the Company will have no liability to the Executive for the determinations of
the firm. 
 8. Definitions. The following terms referred to in the Agreement will have the following meanings: 

(a) “Base Salary” means the Executive’s annual base salary as in effect immediately prior to the Executive’s
Qualified Termination (or if the termination is due to a resignation for Good Reason based on a material reduction in base salary, then the Executive’s annual base salary in effect immediately prior to such reduction) or, if the
Executive’s Qualified Termination is a COC Qualified Termination and such amount is greater, at the level in effect immediately prior to the Change of Control. 

(b) “Cause” means the occurrence of any of the following: (i) the Executive’s conviction of, or plea of “no
contest” to, a felony or any crime involving fraud or embezzlement; (ii) the Executive’s intentional misconduct; (iii) the Executive’s material failure to perform the Executive’s employment duties; (iv) the
Executive’s unauthorized use or disclosure of any proprietary information or trade secrets of any Company Group member or any other party to whom the Executive owes an obligation of nondisclosure as a result of the Executive’s relationship
with the Company Group; (v) an act of material fraud or dishonesty against any Company Group member; (vi) the Executive’s material violation of any policy of any Company Group member or material breach of any written agreement with
any Company Group member; or (vii) the Executive’s failure to cooperate with the Company in any investigation or formal proceeding. No Company Group member will terminate an Executive’s employment for Cause without first providing the
Executive with written notice specifically identifying the acts or omissions constituting the grounds for a Cause termination and, with respect to clauses (ii), (iii), (vi), and (vii), a reasonable cure period of not less than 10 business days
following such notice to the extent such events are curable (as determined by the Company). 

  
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 (c) “Change of Control” means the occurrence of any of the following events:

 (i) Change in Ownership of the Company. A change in the ownership of the Company which occurs on the date that any one
person, or more than one person acting as a group (“Person”), acquires ownership of the stock of the Company that, with the stock held by such Person, constitutes more than 50% of the total voting power of the stock of the Company;
provided, that for this subsection, the acquisition of additional stock by any one Person, who prior to such acquisition is considered to own more than 50% of the total voting power of the stock of the Company will not be considered a Change of
Control. Further, if the stockholders of the Company immediately before such change in ownership continue to retain immediately after the change in ownership, in substantially the same proportions as their ownership of shares of the Company’s
voting stock immediately prior to the change in ownership, direct or indirect beneficial ownership of 50% or more of the total voting power of the stock of the Company, such event shall not be considered a Change of Control under this clause (i).
For this purpose, indirect beneficial ownership shall include, without limitation, an interest resulting from ownership of the voting securities of one or more corporations or other business entities which own the Company, as the case may be, either
directly or through one or more subsidiary corporations or other business entities; or 
 (ii) Change in Effective Control of the
Company. If the Company has a class of securities registered under Section 12 of the Exchange Act, a change in the effective control of the Company which occurs on the date that a majority of members of the Board is replaced during any
12-month period by directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of the appointment or election. For purposes of this clause (b), if any Person is considered to be in
effective control of the Company, the acquisition of additional control of the Company by the same Person will not be considered a Change of Control; or 

(iii) Change in Ownership of a Substantial Portion of the Company’s Assets. A change in the ownership of a substantial
portion of the Company’s assets which occurs on the date that any Person acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such person or persons) assets from the Company that have a total
gross fair market value equal to or more than 50% of the total gross fair market value of all of the assets of the Company immediately prior to such acquisition or acquisitions; provided, however, that for purposes of this subsection, the following
will not constitute a change in the ownership of a substantial portion of the Company’s assets: (A) a transfer to an entity that is controlled by the Company’s stockholders immediately after the transfer, or (B) a transfer of
assets by the Company to: (1) a stockholder of the Company (immediately before the asset transfer) in exchange for or with respect to the Company’s stock, (2) an entity, 50% or more of the total value or voting power of which is
owned, directly or indirectly, by the Company, (3) a Person, that owns, directly or indirectly, 50% or more of the total value or voting power of all the then-outstanding stock of the Company, or (4) an entity, at least 50% of the total
value or voting power of which is owned, directly or indirectly, by a Person. 
 For this definition, gross fair market value means the
value of the assets of the Company, or the value of the assets being disposed of, determined without regard to any liabilities associated with such assets. For this definition, persons will be acting as a group if they are owners of a corporation
that enters into a merger, consolidation, purchase or acquisition of stock, or similar business transaction with the Company. 
 A
transaction will not be a Change of Control unless the transaction qualifies as a change in control event within the meaning of Section 409A (as defined below). 

  
 - 6 - 

 Further and for the avoidance of doubt, a transaction will not constitute a Change of Control
if: (i) its sole purpose is to change the state of the Company’s incorporation, or (ii) 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. 
 (d) “Change of Control Period” means the period beginning
3 months prior to a Change of Control and ending 12 months following a Change of Control. 
 (e) “COBRA” means the
Consolidated Omnibus Budget Reconciliation Act of 1985, as amended. 
 (f) “Code” means the Internal Revenue Code of 1986,
as amended. 
 (g) “Company Group” means the Company and its subsidiaries. 

(h) “Disability” means the Executive is, by reason of any medically determinable physical or mental impairment that can be
expected to result in death or can be expected to last for a continuous period of not less than 12 months, either (i) unable to engage in any substantial gainful activity or (ii) receiving income replacement benefits for a period of not
less than 3 months under an accident and health plan covering employees of the Company Group member that is employing the Executive. 
 (i)
“Good Reason” means the termination of the Executive’s employment with the Company Group by the Executive in accordance with the next sentence after the occurrence of one or more of the following events without the
Executive’s express written consent: (i) a material reduction of the Executive’s duties, authorities, or responsibilities relative to the Executive’s duties, authorities, or responsibilities in effect immediately prior to such
reduction, provided, however, that continued employment following a Change of Control with substantially the same duties, authorities, or responsibilities with respect to the Company Group’s business and operations will not constitute
“Good Reason” (for example, “Good Reason” does not exist if the Executive is employed by the Company Group or a successor with substantially the same duties, authorities, or responsibilities with respect to the Company
Group’s business that the Executive had immediately prior to the Change of Control regardless of whether the Executive’s title is revised to reflect the Executive’s placement within the overall corporate hierarchy or whether the
Executive provides services to a subsidiary, affiliate, business unit or otherwise); (ii) a material reduction by a Company Group member in the Executive’s rate of annual base salary; provided, however, that, a reduction of annual base
salary that also applies to substantially all other similarly situated employees of the Company Group members will not constitute “Good Reason”; (iii) a material change in the geographic location of the Executive’s primary work
facility or location; provided, that a relocation of less than 35 miles from the Executive’s then present location will not be considered a material change in geographic location; or (iv) the failure of the Company to obtain from any
successor or transferee of the Company Group an express written and unconditional assumption of the Company’s obligations to the Executive under the Agreement. In order for the termination of the Executive’s employment with a Company Group
member to be for Good Reason, the Executive must not terminate employment without first providing written notice to the Company of the acts or omissions constituting the grounds for “Good Reason” within 90 days of the initial existence of
the grounds for “Good Reason” and a cure period of 30 days following the date of written notice (the “Cure Period”), such grounds must not have been cured during such time, and the Executive must terminate the Executive’s
employment within 30 days following the Cure Period. 

  
 - 7 - 

 (j) “Qualified Termination” means a termination of the Executive’s
employment (i) either (A) by a Company Group member without Cause (including due to the Executive’s death or Disability) or (B) by the Executive for Good Reason, in either case, during the Change of Control Period (a “COC
Qualified Termination”) or (ii) outside of the Change of Control Period by a Company Group member without Cause (including due to the Executive’s death or Disability) (a “Non-COC Qualified Termination”). 

9. Successors. 
 (a)
The Company’s Successors. Any successor (whether direct or indirect and whether by purchase, merger, consolidation, liquidation or otherwise) to all or substantially all of the Company Group’s business and/or assets must assume the
obligations under the Agreement and agree expressly to perform the obligations under the Agreement in the same manner and to the same extent as the Company would be required to perform such obligations in the absence of a succession. For all
purposes under the Agreement, the terms “Company” and “Company Group” will include any successor to their business and/or assets which executes and delivers the assumption agreement described in this Section 9(a) or which
becomes bound by the terms of the Agreement by operation of law. 
 (b) The Executive’s Successors. The terms of the Agreement
and all rights of the Executive under the Agreement will inure to the benefit of, and be enforceable by, the Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees, and legatees. 

10. Notice. 
 (a)
General. All notices and other communications required or permitted under the Agreement shall be in writing and will be effectively given (i) upon actual delivery to the party to be notified, (ii) 24 hours after confirmed facsimile
transmission, (iii) 1 business day after deposit with a recognized overnight courier or (iv) 3 business days after deposit with the U.S. Postal Service by first class certified or registered mail, return receipt requested, postage prepaid,
addressed (A) if to the Executive, at the address the Executive shall have most recently furnished to the Company in writing, (B) if to the Company, at the following address: 

Square, Inc. 
 1455 Market
Street, Suite 600 
 San Francisco, CA 94103 

Attention: General Counsel 

E-mail: (855) 204-8795 

(b) Notice of Termination. Any termination by a Company Group member for Cause will be communicated by a notice of termination to the
Executive, and any termination by the Executive for Good Reason will be communicated by a notice of termination to the Company, in each case given in accordance with Section 10(a) of the Agreement. Such notice will indicate the specific
termination provision in the Agreement relied upon, will set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination under the provision so indicated, and will specify the termination date (which will be not
more than 30 days after the later of (i) the giving of such notice or (ii) the end of any applicable cure period). The failure by the Executive to include in the notice any fact or circumstance that contributes to a showing of Good Reason
will not waive any right of the Executive under the Agreement or preclude the Executive from asserting such fact or circumstance in enforcing the Executive’s rights under the Agreement. 

  
 - 8 - 

 11. Resignation. The termination of the Executive’s employment for any reason will
also constitute, without any further required action by the Executive, the Executive’s voluntary resignation from all officer and/or director positions held at any member of the Company Group, and at the Board’s request, the Executive will
execute any documents reasonably necessary to reflect such resignation. 
 12. Miscellaneous Provisions. 

(a) No Duty to Mitigate. The Executive will not be required to mitigate the amount of any payment contemplated by the Agreement, nor
will any such payment be reduced by any earnings that the Executive may receive from any other source. 
 (b) Waiver; Amendment. No
provision of the Agreement will be modified, waived or discharged unless the modification, waiver or discharge is agreed to in writing and signed by an authorized officer of the Company (other than the Executive) and by the Executive. No waiver by
either party of any breach of, or of compliance with, any condition or provision of the Agreement by the other party will be considered a waiver of any other condition or provision or of the same condition or provision at another time. 

(c) Headings. All captions and section headings used in the Agreement are for convenient reference only and do not form a part of the
Agreement. 
 (d) Entire Agreement. The Agreement, together with the Confirmatory Letter, constitutes the entire agreement of the
parties hereto and supersedes in their entirety all prior representations, understandings, undertakings or agreements (whether oral or written and whether expressed or implied) of the parties with respect to the subject matter hereof. 

(e) Choice of Law. This Agreement will be governed by the laws of the State of California without regard to California’s conflicts
of law rules that may result in the application of the laws of any jurisdiction other than California. To the extent that any lawsuit is permitted under this Agreement, Employee hereby expressly consents to the personal and exclusive jurisdiction
and venue of the state and federal courts located in California for any lawsuit filed against the Executive by the Company. 
 (f)
Arbitration. The Company and the Executive must submit to mandatory and exclusive binding arbitration of any controversy or claim arising out of or relating to the Agreement or any breach of the Agreement, but the parties will retain their
right to and will not be prohibited, limited, or in any other way restricted from seeking or obtaining equitable relief from a court having jurisdiction over the parties. Such arbitration will be governed by the Federal Arbitration Act and conducted
through the American Arbitration Association (the “AAA”) in the State of California, San Francisco County, before a single neutral arbitrator under the National Rules for the Resolution of Employment Disputes of the American
Arbitration Association in effect at that time. The parties may conduct only essential discovery (as defined by the AAA arbitrator) prior to the hearing. The arbitrator must issue a written decision that contains the essential findings and
conclusions on which the decision is based. The Executive will bear only those costs of arbitration the Executive would otherwise have borne had the Executive brought a claim covered by the Agreement in court. Judgment upon the determination or
award rendered by the arbitrator may be entered in any court having jurisdiction. 

  
 - 9 - 

 (g) Severability. The invalidity or unenforceability of any provision or provisions of the
Agreement will not affect the validity or enforceability of any other provision hereof, which will remain in full force and effect. 
 (h)
Withholding. All payments and benefits under the Agreement will be paid less applicable withholding taxes. The Company is authorized to withhold from any payments or benefits all federal, state, local and/or foreign taxes required to be
withheld from such payments or benefits and make any other required payroll deductions. No member of the Company Group will pay the Executive’s taxes arising from or relating to any payments or benefits under the Agreement. 

(i) Counterparts. The Agreement may be executed in counterparts, each of which will be deemed an original, but all of which together
will constitute one and the same instrument. 
 [Signature page follows.] 

  
 - 10 - 

 By its signature below, each of the parties signifies its acceptance of the terms of the
Agreement, in the case of the Company by its duly authorized officer. 
  

									
	COMPANY	 		 		 	SQUARE, INC.
					
		 		 		 	By:	 	  

		 		 		 	Title:	 	  

		 		 		 	Date:	 	  

				
	THE EXECUTIVE	 		 		 	  

					
		 		 		 	Date:	 	  

  
 [Signature page to
Change of Control and Severance Agreement]

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