Document:

Exhibit 4.1

 

	
  

  	
  THIS CERTIFIES
  THAT is the owner of CUSIP DATED COUNTERSIGNED AND REGISTERED: COMPUTERSHARE
  TRUST COMPANY, N.A. TRANSFER AGENT AND REGISTRAR, FULLY-PAID AND
  NON-ASSESSABLE SHARES OF COMMON STOCK OF MaxPoint Interactive, Inc.
  (hereinafter called the “Company”), transferable on the books of the Company
  in person or by duly authorized attorney, upon surrender of this Certificate
  properly endorsed. This Certificate and the shares represented hereby, are
  issued and shall be held subject to all of the provisions of the Certificate
  of Incorporation, as amended, and the By-Laws, as amended, of the Company
  (copies of which are on file with the Company and with the Transfer Agent),
  to all of which each holder, by acceptance hereof, assents. This Certificate
  is not valid unless countersigned and registered by the Transfer Agent and
  Registrar. Witness the facsimile seal of the Company and the facsimile
  signatures of its duly authorized officers. COMMON STOCK PAR VALUE $0.00005
  COMMON STOCK THIS CERTIFICATE IS TRANSFERABLE IN CANTON, MA, JERSEY CITY, NJ
  AND COLLEGE STATION, TX SEE REVERSE FOR CERTAIN DEFINITIONS Certificate
  Number Shares . MAXPOINT INTERACTIVE, INC. INCORPORATED UNDER THE LAWS OF THE
  STATE OF DELAWARE FACSIMILE SIGNATURE TO COME FACSIMILE SIGNATURE TO COME
  President Secretary By AUTHORIZED SIGNATURE SEPTEMBER 2006 DELAWARE MAXPOINT
  INTERACTIVE, INC,. ZQ|CERT#|COY|CLS|RGSTRY|ACCT#|TRANSTYPE|RUN#|TRANS# 57777M
  10 2 DD-MMM-YYYY * * 000000* * * * * * * * * * * * * * * * * * * * * 000000*
  * * * * * * * * * * * * * * * * * * * * 000000* * * * * * * * * * * * * * * *
  * * * * * 000000* * * * * * * * * * * * * * * * * * * * * 000000* * * * * * *
  * * * * * * * ** Mr. Alexander David Sample **** Mr. Alexander David Sample
  **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr.
  Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander
  David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample
  **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr.
  Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander
  David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample
  **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr.
  Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander
  David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample
  **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr.
  Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander
  David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample
  **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr.
  Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander
  David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample
  **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr.
  Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander
  David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample
  **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr.
  Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander
  David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample ****
  Mr. Alexander David Sample **** Mr. Sample **** Mr. Sample
  **000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares***
  *000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****
  000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****0
  00000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****00
  0000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000
  000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****0000
  00**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****00000
  0**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000
  **Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000*
  *Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**
  Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**S
  ***ZERO HUNDRED THOUSAND ZERO HUNDRED AND ZERO*** MR. SAMPLE & MRS.
  SAMPLE & MR. SAMPLE & MRS. SAMPLE ZQ00000000 Certificate Numbers
  1234567890/1234567890 1234567890/1234567890 1234567890/1234567890
  1234567890/1234567890 1234567890/1234567890 1234567890/1234567890 Total
  Transaction Num/No. 123456 Denom. 123456 Total 1234567 MR A SAMPLE
  DESIGNATION (IF ANY) ADD 1 ADD 2 ADD 3 ADD 4 MaxPoint Interactive, Inc. PO
  BOX 43004, Providence, RI 02940-3004 CUSIP XXXXXX XX X Holder ID XXXXXXXXXX
  Insurance Value 1,000,000.00 Number of Shares 123456 DTC 12345678
  123456789012345 

  

 

	
  

  	
  The IRS
  requires that we report the cost basis of certain shares acquired after
  January 1, 2011. If your shares were covered by the legislation and you have
  sold or transferred the shares and requested a specific cost basis
  calculation method, we have processed as requested. If you did not specify a
  cost basis calculation method, we have defaulted to the first in, first out
  (FIFO) method. Please visit our website or consult your tax advisor if you
  need additional information about cost basis. If you do not keep in contact
  with us or do not have any activity in your account for the time periods
  specified by state law, your property could become subject to state unclaimed
  property laws and transferred to the appropriate state. For value received,  hereby sell, assign and transfer unto
  Shares Attorney Dated: 20 Signature: 
  Signature:  Notice: The
  signature to this assignment must correspond with the name as written upon
  the face of the certificate, in every particular, without alteration or
  enlargement, or any change whatever. PLEASE INSERT SOCIAL SECURITY OR OTHER
  IDENTIFYING NUMBER OF ASSIGNEE (PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS,
  INCLUDING POSTAL ZIP CODE, OF ASSIGNEE) of the Common Stock represented by
  the within Certificate, and do hereby irrevocably constitute and appoint to
  transfer the said stock on the books of the within-named Company with full
  power of substitution in the premises. . MAXPOINT INTERACTIVE, INC. THE
  COMPANY WILL FURNISH WITHOUT CHARGE TO EACH SHAREHOLDER WHO SO REQUESTS, A
  SUMMARY OF THE POWERS, DESIGNATIONS, PREFERENCES AND RELATIVE, PARTICIPATING,
  OPTIONAL OR OTHER SPECIAL RIGHTS OF EACH CLASS OF STOCK OF THE COMPANY AND
  THE QUALIFICATIONS, LIMITATIONS OR RESTRICTIONS OF SUCH PREFERENCES AND
  RIGHTS, AND THE VARIATIONS IN RIGHTS, PREFERENCES AND LIMITATIONS DETERMINED
  FOR EACH SERIES, WHICH ARE FIXED BY THE CERTIFICATE OF INCORPORATION OF THE
  COMPANY, AS AMENDED, AND THE RESOLUTIONS OF THE BOARD OF DIRECTORS OF THE
  COMPANY, AND THE AUTHORITY OF THE BOARD OF DIRECTORS TO DETERMINE VARIATIONS
  FOR FUTURE SERIES. SUCH REQUEST MAY BE MADE TO THE OFFICE OF THE SECRETARY OF
  THE COMPANY OR TO THE TRANSFER AGENT. THE BOARD OF DIRECTORS MAY REQUIRE THE
  OWNER OF A LOST OR DESTROYED STOCK CERTIFICATE, OR HIS LEGAL REPRESENTATIVES,
  TO GIVE THE COMPANY A BOND TO INDEMNIFY IT AND ITS TRANSFER AGENTS AND
  REGISTRARS AGAINST ANY CLAIM THAT MAY BE MADE AGAINST THEM ON ACCOUNT OF THE
  ALLEGED LOSS OR DESTRUCTION OF ANY SUCH CERTIFICATE. Signature(s) Guaranteed:
  Medallion Guarantee Stamp THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN
  ELIGIBLE GUARANTOR INSTITUTION (Banks, Stockbrokers, Savings and Loan
  Associations and Credit Unions) WITH MEMBERSHIP IN AN APPROVED SIGNATURE
  GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15. The following
  abbreviations, when used in the inscription on the face of this certificate,
  shall be construed as though they were written out in full according to
  applicable laws or regulations: TEN COM - as tenants in common UNIF GIFT MIN
  ACT - Custodian (Cust) (Minor) TEN ENT - as tenants by the entireties under
  Uniform Gifts to Minors Act (State) JT TEN - as joint tenants with right of
  survivorship UNIF TRF MIN ACT - Custodian (until age ) and not as tenants in
  common (Cust) under Uniform Transfers to Minors Act (Minor) (State)
  Additional abbreviations may also be used though not in the above list.Exhibit 10.3

 

MAXPOINT INTERACTIVE, INC.

 

2015 EQUITY INCENTIVE PLAN

 

(AS ADOPTED ON JANUARY 28, 2015)

 

 

MAXPOINT INTERACTIVE, INC.
 2015 EQUITY INCENTIVE PLAN

 

ARTICLE 1.   INTRODUCTION.

 

The Board adopted the Plan to become effective immediately, although no Awards may be granted prior to the IPO Date.  The purpose of the Plan is to promote the long-term success of the Company and the creation of stockholder value by (a) encouraging Service Providers to focus on critical long-range corporate objectives, (b) encouraging the attraction and retention of Service Providers with exceptional qualifications and (c) linking Service Providers directly to stockholder interests through increased stock ownership.  The Plan seeks to achieve this purpose by providing for Awards in the form of Options (which may be ISOs or NSOs), SARs, Restricted Shares, Stock Units and Performance Cash Awards. Capitalized terms used in this Plan are defined in Article 14.

 

ARTICLE 2.   ADMINISTRATION.

 

2.1                               General.  The Plan may be administered by the Board or one or more Committees.  Each Committee shall comply with rules and regulations applicable to it, including under the rules of any exchange on which shares of the Company’s common stock are traded, and shall have the authority and be responsible for such functions as have been assigned to it.

 

2.2                               Section 162(m).  To the extent an Award is intended to qualify as “performance-based compensation” within the meaning of Code Section 162(m), the Plan will be administered by a Committee of two or more “outside directors” within the meaning of Code Section 162(m).

 

2.3                               Section 16.  To the extent desirable to qualify transactions hereunder as exempt under Exchange Act Rule 16b-3, the transactions contemplated hereunder will be approved by the entire Board or a Committee of two or more “non-employee directors” within the meaning of Exchange Act Rule 16b-3.

 

2.4                               Powers of Administrator.  Subject to the terms of the Plan, and in the case of a Committee, subject to the specific duties delegated to the Committee, the Administrator shall have the authority to (a) select the Service Providers who are to receive Awards under the Plan, (b) determine the type, number, vesting requirements and other features and conditions of such Awards, (c) determine whether and to what extent any Performance Goals have been attained, (d) interpret the Plan and Awards granted under the Plan, (e) make, amend and rescind rules relating to the Plan and Awards granted under the Plan, including rules relating to sub-plans established for the purposes of satisfying applicable foreign laws or for qualifying for favorable tax treatment under applicable foreign laws, (f) impose such restrictions, conditions or limitations as it determines appropriate as to the timing and manner of any resales by a Participant of any Common Shares issued pursuant to an Award, including restrictions under an insider trading policy and restrictions as to the use of a specified brokerage firm for such resales, and (g) make all other decisions relating to the operation of the Plan and Awards granted under the Plan.

 

 

2.5                               Effect of Administrator’s Decisions.  The Administrator’s decisions, determinations and interpretations shall be final and binding on all Participants and any other holders of Awards.

 

2.6                               Governing Law.  The Plan shall be governed by, and construed in accordance with, the laws of the State of Delaware (except its choice-of-law provisions).

 

ARTICLE 3.   SHARES AVAILABLE FOR GRANTS.

 

3.1                               Basic Limitation.  Common Shares issued pursuant to the Plan may be authorized but unissued shares or treasury shares.  The aggregate number of Common Shares issued under the Plan shall not exceed the sum of (a) 2,500,000 Common Shares, (b) the number of Common Shares reserved under the Predecessor Plan that are not issued or subject to outstanding awards under the Predecessor Plan on the IPO Date, (c) any Common Shares subject to outstanding options under the Predecessor Plan on the IPO Date that subsequently expire or lapse unexercised and Common Shares issued pursuant to awards granted under the Predecessor Plans that are outstanding on the IPO Date and that are subsequently forfeited to or repurchased by the Company and (d) the additional Common Shares described in Articles 3.2 and 3.3; provided, however, that no more than 4,537,868 Common Shares, in the aggregate, shall be added to the Plan pursuant to clauses (b) and (c).  The number of Common Shares that are subject to Stock Awards outstanding at any time under the Plan may not exceed the number of Common Shares that then remain available for issuance under the Plan.  The numerical limitations in this Article 3.1 shall be subject to adjustment pursuant to Article 9.

 

3.2                               Annual Increase in Shares.  As of the first business day of each fiscal year of the Company during the term of the Plan, commencing in 2016 and ending in (and including) 2025, the aggregate number of Common Shares that may be issued under the Plan shall automatically increase by a number equal to the least of (a) 5% of the total number of Common Shares actually issued and outstanding on the last business day of the prior fiscal year, (b) subject to adjustment pursuant to Article 9, 1,750,000 Common Shares, or (c) a number of Common Shares determined by the Board.

 

3.3                               Shares Returned to Reserve.  To the extent that Options, SARs or Stock Units are forfeited or expire for any other reason before being exercised or settled in full, the Common Shares subject to such Options, SARs or Stock Units shall again become available for issuance under the Plan.  If SARs are exercised or Stock Units are settled, then only the number of Common Shares (if any) actually issued to the Participant upon exercise of such SARs or settlement of such Stock Units, as applicable, shall reduce the number available under Article 3.1 and the balance shall again become available for issuance under the Plan.  If Restricted Shares or Common Shares issued upon the exercise of Options are reacquired by the Company pursuant to a forfeiture provision, repurchase right or for any other reason, then such Common Shares shall again become available for issuance under the Plan.  Common Shares applied to pay the Exercise Price of Options or to satisfy tax withholding obligations related to any Award shall again become available for issuance under the Plan.  To the extent that an Award is settled in cash rather than Common Shares, the cash settlement shall not reduce the number of Shares available for issuance under the Plan.

 

2

 

3.4                               Awards Not Reducing Share Reserve in Article 3.1.  To the extent permitted under applicable stock exchange listing standards, any dividend equivalents paid or credited under the Plan with respect to Stock Units shall not be applied against the number of Common Shares that may be issued under the Plan, whether or not such dividend equivalents are converted into Stock Units.  In addition, Common Shares subject to Substitute Awards granted by the Company shall not reduce the number of Common Shares that may be issued under Article 3.1, nor shall shares subject to Substitute Awards again be available for Awards under the Plan in the event of any forfeiture, expiration or cash settlement of such Substitute Awards.

 

3.5                               Code Section 162(m) and 422 Limits.  Subject to adjustment in accordance with Article 9:

 

(a)                                 The maximum aggregate number of Common Shares subject to Options and SARs that may be granted under this Plan during any fiscal year to any one Participant shall not exceed 1,500,000, except that the Company may grant to a new Employee in the fiscal year in which his or her Service as an Employee first commences Options and/or SARs that cover (in the aggregate) up to an additional 1,000,000 Common Shares;

 

(b)                                 The maximum aggregate number of Common Shares subject to Restricted Share awards and Stock Units that may be granted under this Plan during any fiscal year to any one Participant shall not exceed 1,000,000, except that the Company may grant to a new Employee in the fiscal year in which his or her Service as an Employee first commences Restricted Shares and/or Stock Units that cover (in the aggregate) up to an additional 500,000 Common Shares;

 

(c)                                  The maximum aggregate number of Common Shares subject to Awards granted to an Outside Director during any fiscal year of the Company shall not exceed 125,000 shares;

 

(d)                                 No Participant shall be paid more than $2,500,000 in cash in any fiscal year pursuant to Performance Cash Awards granted under the Plan; and

 

(e)                                  No more than 24,787,868  Common Shares plus the additional Common Shares described in Article 3.2 may be issued under the Plan upon the exercise of ISOs.

 

ARTICLE 4.   ELIGIBILITY.

 

4.1                               Incentive Stock Options.  Only Employees who are common-law employees of the Company, a Parent or a Subsidiary shall be eligible for the grant of ISOs.  In addition, an Employee who owns more than 10% of the total combined voting power of all classes of outstanding stock of the Company or any of its Parents or Subsidiaries shall not be eligible for the grant of an ISO unless the additional requirements set forth in Code Section 422(c)(5) are satisfied.

 

4.2                               Other Awards.  Awards other than ISOs may only be granted to Service Providers.

 

3

 

ARTICLE 5.   OPTIONS.

 

5.1                               Stock Option Agreement.  Each grant of an Option under the Plan shall be evidenced by a Stock Option Agreement between the Optionee and the Company.  Such Option shall be subject to all applicable terms of the Plan and may be subject to any other terms that are not inconsistent with the Plan.  The Stock Option Agreement shall specify whether the Option is intended to be an ISO or an NSO.  The provisions of the various Stock Option Agreements entered into under the Plan need not be identical.

 

5.2                               Number of Shares.  Each Stock Option Agreement shall specify the number of Common Shares subject to the Option, which number shall adjust in accordance with Article 9.

 

5.3                               Exercise Price.  Each Stock Option Agreement shall specify the Exercise Price, which shall be such price as is determined by the Administrator in its discretion; provided however, that unless an Option is intended to comply with Code Section 409A (and not, for the avoidance of doubt, be exempt from Code Section 409A) the Exercise Price of any Option granted to a Participant subject to taxation in the United States shall be not be less than 100% of the Fair Market Value of a Common Share on the date of grant; provided further that the preceding clause shall not apply to an Option that is a Substitute Award granted in a manner that would satisfy the requirements of Code Section 409A and, if applicable, Code Section 424(a).

 

5.4                               Exercisability and Term.  Each Stock Option Agreement shall specify the date or event when all or any installment of the Option is to become vested and/or exercisable.  The Stock Option Agreement shall also specify the term of the Option; provided that, except to the extent necessary to comply with applicable foreign law, the term of an Option shall in no event exceed 10 years from the date of grant.  A Stock Option Agreement may provide for accelerated vesting and/or exercisability upon certain specified events and may provide for expiration prior to the end of its term in the event of the termination of the Optionee’s Service.

 

5.5                               Death of Optionee.  After an Optionee’s death, any vested and exercisable Options held by such Optionee may be exercised by his or her beneficiary or beneficiaries.  Each Optionee may designate one or more beneficiaries for this purpose by filing the prescribed form with the Company.  A beneficiary designation may be changed by filing the prescribed form with the Company at any time before the Optionee’s death.  If no beneficiary was designated or if no designated beneficiary survives the Optionee, then any vested and exercisable Options held by the Optionee may be exercised by his or her estate.

 

5.6                               Modification or Assumption of Options.  Within the limitations of the Plan, the Administrator may modify, reprice, extend or assume outstanding options or may accept the cancellation of outstanding options (whether granted by the Company or by another issuer) in return for the grant of new Options for the same or a different number of shares and at the same or a different exercise price or in return for the grant of a different type of Award.  The foregoing notwithstanding, no modification of an Option shall, without the consent of the Optionee, impair his or her rights or obligations under such Option.

 

5.7                               Buyout Provisions.  The Administrator may at any time (a) offer to buy out for a payment in cash or cash equivalents an Option previously granted or (b) authorize an Optionee to

 

4

 

elect to cash out an Option previously granted, in either case at such time and based upon such terms and conditions as the Administrator shall establish.

 

5.8                               Payment for Option Shares.  The entire Exercise Price of Common Shares issued upon exercise of Options shall be payable in cash or cash equivalents at the time when such Common Shares are purchased.  In addition, the Administrator may, in its sole discretion and to the extent permitted by applicable law, accept payment of all or a portion of the Exercise Price through any one or a combination of the following forms or methods:

 

(a)                                 Subject to any conditions or limitations established by the Administrator, by surrendering, or attesting to the ownership of, Common Shares that are already owned by the Optionee with a  Fair Market Value on the date of surrender equal to the aggregate exercise price of the Common Shares as to which such Option will be exercised;

 

(b)                                 By delivering (on a form prescribed by the Company) an irrevocable direction to a securities broker approved by the Company to sell all or part of the Common Shares being purchased under the Plan and to deliver all or part of the sales proceeds to the Company;

 

(c)                                  Subject to such conditions and requirements as the Administrator may impose from time to time, through a net exercise procedure; or

 

(d)                                 Through any other form or method consistent with applicable laws, regulations and rules.

 

ARTICLE 6.   STOCK APPRECIATION RIGHTS.

 

6.1                               SAR Agreement.  Each grant of a SAR under the Plan shall be evidenced by a SAR Agreement between the Optionee and the Company.  Such SAR shall be subject to all applicable terms of the Plan and may be subject to any other terms that are not inconsistent with the Plan.  The provisions of the various SAR Agreements entered into under the Plan need not be identical.

 

6.2                               Number of Shares.  Each SAR Agreement shall specify the number of Common Shares to which the SAR pertains, which number shall adjust in accordance with Article 9.

 

6.3                               Exercise Price.  Each SAR Agreement shall specify the Exercise Price, which shall in no event be less than 100% of the Fair Market Value of a Common Share on the date of grant.  The preceding sentence shall not apply to a SAR that is a Substitute Award granted in a manner that would satisfy the requirements of Code Section 409A.

 

6.4                               Exercisability and Term.  Each SAR Agreement shall specify the date when all or any installment of the SAR is to become vested and exercisable.  The SAR Agreement shall also specify the term of the SAR; provided that except to the extent necessary to comply with applicable foreign law, the term of a SAR shall not exceed 10 years from the date of grant.  A SAR Agreement may provide for accelerated vesting and exercisability upon certain specified events and may provide for expiration prior to the end of its term in the event of the termination of the Optionee’s Service.

 

5

 

6.5                               Exercise of SARs.  Upon exercise of a SAR, the Optionee (or any person having the right to exercise the SAR after his or her death) shall receive from the Company (a) Common Shares, (b) cash or (c) a combination of Common Shares and cash, as the Administrator shall determine.  The amount of cash and/or the Fair Market Value of Common Shares received upon exercise of SARs shall, in the aggregate, not exceed the amount by which the Fair Market Value (on the date of surrender) of the Common Shares subject to the SARs exceeds the Exercise Price.  If, on the date when a SAR expires, the Exercise Price is less than the Fair Market Value on such date but any portion of such SAR has not been exercised or surrendered, then such SAR shall automatically be deemed to be exercised as of such date with respect to such portion.  A SAR Agreement may also provide for an automatic exercise of the SAR on an earlier date.

 

6.6                               Death of Optionee.  After an Optionee’s death, any vested and exercisable SARs held by such Optionee may be exercised by his or her beneficiary or beneficiaries.  Each Optionee may designate one or more beneficiaries for this purpose by filing the prescribed form with the Company.  A beneficiary designation may be changed by filing the prescribed form with the Company at any time before the Optionee’s death.  If no beneficiary was designated or if no designated beneficiary survives the Optionee, then any vested and exercisable SARs held by the Optionee at the time of his or her death may be exercised by his or her estate.

 

6.7                               Modification or Assumption of SARs.  Within the limitations of the Plan, the Administrator may modify, reprice, extend or assume outstanding SARs or may accept the cancellation of outstanding SARs (whether granted by the Company or by another issuer) in return for the grant of new SARs for the same or a different number of shares and at the same or a different exercise price or in return for the grant of a different type of Award.  The foregoing notwithstanding, no modification of a SAR shall, without the consent of the Optionee, impair his or her rights or obligations under such SAR.

 

ARTICLE 7.   RESTRICTED SHARES.

 

7.1                               Restricted Stock Agreement.  Each grant of Restricted Shares under the Plan shall be evidenced by a Restricted Stock Agreement between the recipient and the Company.  Such Restricted Shares shall be subject to all applicable terms of the Plan and may be subject to any other terms that are not inconsistent with the Plan.  The provisions of the various Restricted Stock Agreements entered into under the Plan need not be identical.

 

7.2                               Payment for Awards.  Restricted Shares may be sold or awarded under the Plan for such consideration as the Administrator may determine, including (without limitation) cash, cash equivalents, property, cancellation of other equity awards, full-recourse promissory notes, past services and future services, and such other methods of payment as are permitted by applicable law.

 

7.3                               Vesting Conditions.  Each Award of Restricted Shares may or may not be subject to vesting and/or other conditions as the Administrator may determine.  Vesting shall occur, in full or in installments, upon satisfaction of the conditions specified in the Restricted Stock Agreement.  Such conditions, at the Administrator’s discretion, may include one or more Performance Goals.  A Restricted Stock Agreement may provide for accelerated vesting upon certain specified events.

 

6

 

7.4                               Voting and Dividend Rights.  The holders of Restricted Shares awarded under the Plan shall have the same voting, dividend and other rights as the Company’s other stockholders, unless the Administrator otherwise provides.  A Restricted Stock Agreement, however, may require that any cash dividends paid on Restricted Shares (a) be accumulated and paid when such Restricted Shares vest, or (b) be invested in additional Restricted Shares.  Such additional Restricted Shares shall be subject to the same conditions and restrictions as the shares subject to the Stock Award with respect to which the dividends were paid.  In addition, unless the Administrator provides otherwise, if any dividends or other distributions are paid in Common Shares, such Common Shares shall be subject to the same restrictions on transferability and forfeitability as the Restricted Shares with respect to which they were paid.

 

ARTICLE 8.   STOCK UNITS.

 

8.1                               Stock Unit Agreement.  Each grant of Stock Units under the Plan shall be evidenced by a Stock Unit Agreement between the recipient and the Company.  Such Stock Units shall be subject to all applicable terms of the Plan and may be subject to any other terms that are not inconsistent with the Plan.  The provisions of the various Stock Unit Agreements entered into under the Plan need not be identical.

 

8.2                               Payment for Awards.  To the extent that an Award is granted in the form of Stock Units, no cash consideration shall be required of the Award recipients.

 

8.3                               Vesting Conditions.  Each Award of Stock Units may or may not be subject to vesting, as determined by the Administrator.  Vesting shall occur, in full or in installments, upon satisfaction of the conditions specified in the Stock Unit Agreement.  Such conditions, at the Administrator’s discretion, may include one or more Performance Goals.  A Stock Unit Agreement may provide for accelerated vesting upon certain specified events.

 

8.4                               Voting and Dividend Rights.  The holders of Stock Units shall have no voting rights.  Prior to settlement or forfeiture, Stock Units awarded under the Plan may, at the Administrator’s discretion, provide for a right to dividend equivalents.  Such right entitles the holder to be credited with an amount equal to all cash dividends paid on one Common Share while the Stock Unit is outstanding.  Dividend equivalents may be converted into additional Stock Units.  Settlement of dividend equivalents may be made in the form of cash, in the form of Common Shares, or in a combination of both.  Prior to distribution, any dividend equivalents shall be subject to the same conditions and restrictions as the Stock Units to which they attach.

 

8.5                               Form and Time of Settlement of Stock Units.  Settlement of vested Stock Units may be made in the form of (a) cash, (b) Common Shares or (c) any combination of both, as determined by the Administrator.  The actual number of Stock Units eligible for settlement may be larger or smaller than the number included in the original Award, based on predetermined performance factors, including Performance Goals.  Methods of converting Stock Units into cash may include (without limitation) a method based on the average Fair Market Value of Common Shares over a series of trading days.  Vested Stock Units shall be settled in such manner and at such time(s) as specified in the Stock Unit Agreement.  Until an Award of Stock Units is settled, the number of such Stock Units shall be subject to adjustment pursuant to Article 9.

 

7

 

8.6                               Death of Recipient.  Any Stock Units that become payable after the recipient’s death shall be distributed to the recipient’s beneficiary or beneficiaries.  Each recipient of Stock Units under the Plan may designate one or more beneficiaries for this purpose by filing the prescribed form with the Company.  A beneficiary designation may be changed by filing the prescribed form with the Company at any time before the Award recipient’s death.  If no beneficiary was designated or if no designated beneficiary survives the Award recipient, then any Stock Units that become payable after the recipient’s death shall be distributed to the recipient’s estate.

 

8.7                               Modification or Assumption of Stock Units.  Within the limitations of the Plan, the Administrator may modify or assume outstanding stock units or may accept the cancellation of outstanding stock units (whether granted by the Company or by another issuer) in return for the grant of new Stock Units for the same or a different number of shares or in return for the grant of a different type of Award.  The foregoing notwithstanding, no modification of a Stock Unit shall, without the consent of the Participant, impair his or her rights or obligations under such Stock Unit.

 

8.8                               Creditors’ Rights.  A holder of Stock Units shall have no rights other than those of a general creditor of the Company.  Stock Units represent an unfunded and unsecured obligation of the Company, subject to the terms and conditions of the applicable Stock Unit Agreement.

 

ARTICLE 9.   ADJUSTMENTS; DISSOLUTIONS AND LIQUIDATIONS; CORPORATE TRANSACTIONS.

 

9.1                               Adjustments.  In the event of a subdivision of the outstanding Common Shares, a declaration of a dividend payable in Common Shares, a combination or consolidation of the outstanding Common Shares (by reclassification or otherwise) into a lesser number of Common Shares or any other increase or decrease in the number of issued Common Shares effected without receipt of consideration by the Company, proportionate adjustments shall automatically be made to the following:

 

(a)                                 The number and kind of shares available for issuance under Article 3, including the numerical share limits in Articles 3.1, 3.2 and 3.5;

 

(b)                                 The number and kind of shares covered by each outstanding Option, SAR and Stock Unit; or

 

(c)                                  The Exercise Price applicable to each outstanding Option and SAR, and the repurchase price, if any, applicable to Restricted Shares.

 

In the event of a declaration of an extraordinary dividend payable in a form other than Common Shares in an amount that has a material effect on the price of Common Shares, a recapitalization, a spin-off or a similar occurrence, the Administrator may make such adjustments as it, in its sole discretion, deems appropriate to the foregoing.  Any adjustment in the number of shares subject to an Award under this Article 9.1 shall be rounded down to the nearest whole share, although the Administrator in its sole discretion may make a cash payment in lieu of a fractional share. Except as provided in this Article 9, a Participant shall have no rights by reason of any issuance

 

8

 

by the Company of stock of any class or securities convertible into stock of any class, any subdivision or consolidation of shares of stock of any class, the payment of any stock dividend or any other increase or decrease in the number of shares of stock of any class.

 

9.2                               Dissolution or Liquidation.  To the extent not previously exercised or settled, Options, SARs and Stock Units shall terminate immediately prior to the dissolution or liquidation of the Company.

 

9.3                               Corporate Transactions.  In the event that the Company is a party to a merger, consolidation, or a Change in Control (other than one described in Article 14.6(d)), all Common Shares acquired under the Plan and all Awards outstanding on the effective date of the transaction shall be treated in the manner described in the definitive transaction agreement (or, in the event the transaction does not entail a definitive agreement to which the Company is party, in the manner determined by the Administrator, with such determination having final and binding effect on all parties), which agreement or determination need not treat all Awards (or portions thereof) in an identical manner. Unless an Award Agreement provides otherwise, the treatment specified in the transaction agreement or by the Administrator may include (without limitation) one or more of the following with respect to each outstanding Award:

 

(a)                                 The continuation of such outstanding Award by the Company (if the Company is the surviving entity);

 

(b)                                 The assumption of such outstanding Award by the surviving entity or its parent, provided that the assumption of an Option or a SAR shall comply with applicable tax requirements;

 

(c)                                  The substitution by the surviving entity or its parent of an equivalent  award for such outstanding Award (including, but not limited to, an award to acquire the same consideration paid to the holders of Common Shares in the transaction), provided that the substitution of an Option or a SAR shall comply with applicable tax requirements;

 

(d)                                 The cancellation of outstanding Options and SARs without payment of any consideration. The Optionees shall be able to exercise such Options and SARs during a period of not less than five full business days preceding the closing date of the transaction, unless (i) a shorter period is required to permit a timely closing of the transaction and (ii) such shorter period still offers the Optionees a reasonable opportunity to exercise such Options and SARs.  Any exercise of such Options and SARs during such period may be contingent on the closing of the transaction;

 

(e)                                  The cancellation of such Award and a payment to the Participant with respect to each share subject to the portion of the Award that is vested or becomes vested as of the effective time of the transaction equal to the excess of (A) the value, as determined by the Administrator in its absolute discretion, of the property (including cash) received by the holder of a Common Share as a result of the transaction, over (if applicable) (B) the per-share Exercise Price of such 

 

9

 

Award (such excess, if any, the “Spread”).  Such payment shall be made in the form of cash, cash equivalents, or securities of the surviving entity or its parent having a value equal to the Spread.  In addition, any escrow, holdback, earn-out or similar provisions in the transaction agreement may apply to such payment to the same extent and in the same manner as such provisions apply to the holders of Common Shares, but only to the extent the application of such provisions does not adversely affect the status of the Award as exempt from Code Section 409A.  If the Spread applicable to an Award (whether or not vested) is zero or a negative number, then the Award may be cancelled without making a payment to the Participant. In the event that a Stock Unit is subject to Code Section 409A, the payment described in this clause (e) shall be made on the settlement date specified in the applicable Stock Unit Agreement, provided that settlement may be accelerated in accordance with Treasury Regulation Section 1.409A-3(j)(4); or

 

(f)                                   The assignment of any reacquisition or repurchase rights held by the Company in respect of an Award of Restricted Shares to the surviving entity or its parent, with corresponding proportionate adjustments made to the price per share to be paid upon exercise of any such reacquisition or repurchase rights.

 

For avoidance of doubt, the Administrator shall have the discretion, exercisable either at the time an Award is granted or at any time while the Award remains outstanding, to provide for the acceleration of vesting upon the occurrence of a Change in Control, whether or not the Award is to be assumed or replaced in the transaction, or in connection with a termination of the Participant’s Service following a transaction.

 

Any action taken under this Article 9.3 shall either preserve an Award’s status as exempt from Code Section 409A or comply with Code Section 409A.

 

ARTICLE 10.   OTHER AWARDS.

 

10.1                        Performance Cash Awards.  A Performance Cash Award is a cash award that may be granted subject to the attainment of specified Performance Goals during a Performance Period.  A Performance Cash Award may also require the completion of a specified period of continuous Service.  The length of the Performance Period, the Performance Goals to be attained during the Performance Period, and the degree to which the Performance Goals have been attained shall be determined conclusively by the Administrator.  Each Performance Cash Award shall be set forth in a written agreement or in a resolution duly adopted by the Administrator which shall contain provisions determined by the Administrator and not inconsistent with the Plan.  The terms of various Performance Cash Awards need not be identical.

 

10.2                        Other Awards.  Subject in all events to the limitations under Article 3 above as to the number of Common Shares available for issuance this Plan, the Company may grant other forms of equity-based awards not specifically described herein and may grant awards under other plans or programs where such awards are settled in the form of Common Shares issued under this Plan.  Such Common Shares shall be treated for all purposes under the Plan like Common Shares issued in settlement of Stock Units and shall, when issued, reduce the number of Common Shares available under Article 3.

 

10

 

ARTICLE 11.   LIMITATION ON RIGHTS.

 

11.1        Retention Rights.  Neither the Plan nor any Award granted under the Plan shall be deemed to give any individual a right to remain a Service Provider.  The Company and its Parents, Subsidiaries and Affiliates reserve the right to terminate the Service of any Service Provider at any time, with or without cause, subject to applicable laws, the Company’s certificate of incorporation and by-laws and a written employment agreement (if any).

 

11.2        Stockholders’ Rights.  Except as set forth in Article 7.4 or 8.4 above, a Participant shall have no dividend rights, voting rights or other rights as a stockholder with respect to any Common Shares covered by his or her Award prior to the time when a stock certificate for such Common Shares is issued or, if applicable, the time when he or she becomes entitled to receive such Common Shares by filing any required notice of exercise and paying any required Exercise Price.  No adjustment shall be made for cash dividends or other rights for which the record date is prior to such time, except as expressly provided in the Plan.

 

11.3        Regulatory Requirements.  Any other provision of the Plan notwithstanding, the obligation of the Company to issue Common Shares under the Plan shall be subject to all applicable laws, rules and regulations and such approval by any regulatory body as may be required.  The Company reserves the right to restrict, in whole or in part, the delivery of Common Shares pursuant to any Award prior to the satisfaction of all legal requirements relating to the issuance of such Common Shares, to their registration, qualification or listing or to an exemption from registration, qualification or listing.  The inability of the Company to obtain authority from any regulatory body having jurisdiction, which authority is deemed necessary by the Company’s counsel to be necessary to the lawful issuance and sale of any Common Shares hereunder, will relieve the Company of any liability in respect of the failure to issue or sell such Common Shares as to which such requisite authority will not have been obtained.

 

11.4        Transferability of Awards.  The Administrator may, in its sole discretion, permit transfer of an Award in a manner consistent with applicable law.  Unless otherwise determined by the Administrator, Awards shall be transferable by a Participant only by (a) beneficiary designation, (b) a will or (c) the laws of descent and distribution; provided that, in any event, an ISO may only be transferred by will or by the laws of descent and distribution and may be exercised during the lifetime of the Optionee only by the Optionee or by the Optionee’s guardian or legal representative.

 

11.5        Other Conditions and Restrictions on Common Shares.  Any Common Shares issued under the Plan shall be subject to such forfeiture conditions, rights of repurchase, rights of first refusal, other transfer restrictions and such other terms and conditions as the Administrator may determine.  Such conditions and restrictions shall be set forth in the applicable Award Agreement and shall apply in addition to any restrictions that may apply to holders of Common Shares generally.  In addition, Common Shares issued under the Plan shall be subject to such conditions and restrictions imposed either by applicable law or by Company policy, as adopted from time to time, designed to ensure compliance with applicable law or laws with which the Company determines in its sole discretion to comply including in order to maintain any statutory, regulatory or tax advantage.

 

11

 

ARTICLE 12.   TAXES.

 

12.1        General.  It is a condition to each Award under the Plan that a Participant or his or her successor shall make arrangements satisfactory to the Company for the satisfaction of any federal, state, local or foreign withholding tax obligations that arise in connection with any Award granted under the Plan.  The Company shall not be required to issue any Common Shares or make any cash payment under the Plan unless such obligations are satisfied.

 

12.2        Share Withholding.  To the extent that applicable law subjects a Participant to tax withholding obligations, the Administrator may permit such Participant to satisfy all or part of such obligations by having the Company withhold all or a portion of any Common Shares that otherwise would be issued to him or her or by surrendering all or a portion of any Common Shares that he or she previously acquired.  Such Common Shares shall be valued on the date when they are withheld or surrendered.  Any payment of taxes by assigning Common Shares to the Company may be subject to restrictions including any restrictions required by SEC, accounting or other rules.

 

12.3        Section 162(m) Matters  The Administrator, in its sole discretion, may determine whether an Award is intended to qualify as “performance-based compensation” within the meaning of Code Section 162(m).  The Administrator may grant Awards that are based on Performance Goals but that are not intended to qualify as performance-based compensation.  With respect to any Award that is intended to qualify as performance-based compensation, the Administrator shall designate the Performance Goal(s) applicable to, and the formula for calculating the amount payable under, an Award within 90 days following commencement of the applicable Performance Period (or such earlier time as may be required under Code Section 162(m)), and in any event at a time when achievement of the applicable Performance Goal(s) remains substantially uncertain.  Prior to the payment of any Award that is intended to constitute performance-based compensation, the Administrator shall certify in writing whether and the extent to which the Performance Goal(s) were achieved for such Performance Period.  The Administrator shall have the right to reduce or eliminate (but not to increase) the amount payable under an Award that is intended to constitute performance-based compensation.

 

12.4        Section 409A Matters.  Except as otherwise expressly set forth in an Award Agreement, it is intended that Awards granted under the Plan either be exempt from, or comply with, the requirements of Code Section 409A.  To the extent an Award is subject to Code Section 409A (a “409A Award”), the terms of the Plan, the Award and any written agreement governing the Award shall be interpreted to comply with the requirements of Code Section 409A so that the Award is not subject to additional tax or interest under Code Section 409A, unless the Administrator expressly provides otherwise.  A 409A Award shall be subject to such additional rules and requirements as specified by the Administrator from time to time in order for it to comply with the requirements of Code Section 409A.  In this regard, if any amount under a 409A Award is payable upon a “separation from service” to an individual who is considered a “specified employee” (as each term is defined under Code Section 409A), then no such payment shall be made prior to the date that is the earlier of (i) six months and one day after the Participant’s separation from service or (ii) the Participant’s death, but only to the extent such delay is necessary to prevent such payment from being subject to Code Section 409A(a)(1).

 

12

 

12.5        Limitation on Liability.  Neither the Company nor any person serving as Administrator shall have any liability to a Participant in the event an Award held by the Participant fails to achieve its intended characterization under applicable tax law.

 

ARTICLE 13.   FUTURE OF THE PLAN.

 

13.1        Term of the Plan.  The Plan, as set forth herein, shall become effective on the date of its adoption by the Board, subject to approval of the Company’s stockholders under Article 13.3 below.  The Plan shall terminate automatically 10 years after the later of (a) the date when the Board adopted the Plan or (b) the date when the Board approved the most recent increase in the number of Common Shares reserved under Article 3 that was also approved by the Company’s stockholders.

 

13.2        Amendment or Termination.  The Board may, at any time and for any reason, amend or terminate the Plan.  No Awards shall be granted under the Plan after the termination thereof.  The termination of the Plan, or any amendment thereof, shall not affect any Award previously granted under the Plan.

 

13.3        Stockholder Approval.  To the extent required by applicable law, the Plan will be subject to the approval of the Company’s stockholders within 12 months of its adoption date.  An amendment of the Plan shall be subject to the approval of the Company’s stockholders only to the extent required by applicable laws, regulations or rules.

 

ARTICLE 14.   DEFINITIONS.

 

14.1        “Administrator” means the Board or any Committee administering the Plan in accordance with Article 2.

 

14.2        “Affiliate” means any entity other than a Subsidiary, if the Company and/or one or more Subsidiaries own not less than 50% of such entity.

 

14.3        “Award” means any award granted under the Plan, including as an Option, a SAR, a Restricted Share, a Stock Unit or a Performance Cash Award.

 

14.4        “Award Agreement” means a Stock Option Agreement, an SAR Agreement, a Restricted Stock Agreement, a Stock Unit Agreement or such other agreement evidencing an Award granted under the Plan.

 

14.5        “Board” means the Company’s Board of Directors, as constituted from time to time, and where the context so requires, reference to the “Board” may refer to a Committee to whom the Board has delegated authority to administer any aspect of this Plan.

 

14.6        “Change in Control” means:

 

(a)           Any “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) becomes the “beneficial owner” (as defined in Rule 13d-3 of the Exchange Act), directly or indirectly, of securities of the Company representing more than fifty percent (50%) of the total voting power represented by the Company’s then-outstanding voting securities;

 

13

 

(b)           The consummation of the sale or disposition by the Company of all or substantially all of the Company’s assets;

 

(c)           The consummation of a merger or consolidation of the Company with or into any other entity, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or its parent) more than fifty percent (50%) of the total voting power represented by the voting securities of the Company or such surviving entity or its parent outstanding immediately after such merger or consolidation; or

 

(d)           Individuals who are members of the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the members of the Board over a period of 12 months; provided, however, that if the appointment or election (or nomination for election) of any new Board member was approved or recommended by a majority vote of the members of the Incumbent Board then still in office, such new member shall, for purposes of this Plan, be considered as a member of the Incumbent Board.

 

A transaction shall not constitute a Change in Control if its sole purpose is to change the state of the Company’s incorporation or 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.  In addition, if a Change in Control constitutes a payment event with respect to any Award which provides for a deferral of compensation and is subject to Code Section 409A, then notwithstanding anything to the contrary in the Plan or applicable Award Agreement the transaction with respect to such Award must also constitute a “change in control event” as defined in Treasury Regulation Section 1.409A-3(i)(5) to the extent required by Code Section 409A.

 

14.7        “Code” means the Internal Revenue Code of 1986, as amended.

 

14.8        “Committee” means a committee of one or more members of the Board, or of other individuals satisfying applicable laws, appointed by the Board to administer the Plan.

 

14.9        “Common Share” means one share of the common stock of the Company.

 

14.10      “Company” means MaxPoint Interactive, Inc., a Delaware corporation.

 

14.11      “Consultant” means a consultant or adviser who provides bona fide services to the Company, a Parent, a Subsidiary or an Affiliate as an independent contractor and who qualifies as a consultant or advisor under Instruction A.1.(a)(1) of Form S-8 under the Securities Act.

 

14.12      “Employee” means a common-law employee of the Company, a Parent, a Subsidiary or an Affiliate.

 

14.13      “Exchange Act” means the Securities Exchange Act of 1934, as amended.

 

14

 

14.14      “Exercise Price,” in the case of an Option, means the amount for which one Common Share may be purchased upon exercise of such Option, as specified in the applicable Stock Option Agreement.  “Exercise Price,” in the case of a SAR, means an amount, as specified in the applicable SAR Agreement, which is subtracted from the Fair Market Value of one Common Share in determining the amount payable upon exercise of such SAR.

 

14.15      “Fair Market Value” means the closing price of a Common Share on any established stock exchange or a national market system on the applicable date or, if the applicable date is not a trading day, on the last trading day prior to the applicable date, as reported in a source that the Administrator deems reliable.  If Common Shares are not traded on an established stock exchange or a national market system, the Fair Market Value shall be determined by the Administrator in good faith on such basis as it deems appropriate.  The Administrator’s determination shall be conclusive and binding on all persons.

 

14.16      “IPO Date” means the effective date of the registration statement filed by the Company with the Securities and Exchange Commission for its initial offering of Common Stock to the public.

 

14.17      “ISO” means an incentive stock option described in Code Section 422(b).

 

14.18      “NSO” means a stock option not described in Code Sections 422 or 423.

 

14.19      “Option” means an ISO or NSO granted under the Plan and entitling the holder to purchase Common Shares.

 

14.20      “Optionee” means an individual or estate holding an Option or SAR.

 

14.21      “Outside Director” means a member of the Board who is not an Employee.

 

14.22      “Parent” means any corporation (other than the Company) in an unbroken chain of corporations ending with the Company, if each of the corporations other than the Company owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain.  A corporation that attains the status of a Parent on a date after the adoption of the Plan shall be considered a Parent commencing as of such date.

 

14.23      “Participant” means an individual or estate holding an Award.

 

14.24      “Performance Cash Award” means an award of cash granted under Article 10.1 of the Plan.

 

14.25      “Performance Goal” means a goal established by the Administrator for the applicable Performance Period based on one or more of the performance criteria set forth in Appendix A.  Depending on the performance criteria used, a Performance Goal may be expressed in terms of overall Company performance or the performance of a business unit, division, Subsidiary, Affiliate or an individual.  A Performance Goal may be measured either in absolute terms or relative to the performance of one or more comparable companies or one or

 

15

 

more relevant indices.  The Administrator may adjust the results under any performance criterion to exclude any of the following events that occurs during a Performance Period: (a) asset write-downs, (b) litigation, claims, judgments or settlements, (c) the effect of changes in tax laws, accounting principles or other laws or provisions affecting reported results, (d) accruals for reorganization and restructuring programs, (e) extraordinary, unusual or non-recurring items, (f) exchange rate effects for non-U.S. dollar denominated net sales and operating earnings, or (g) statutory adjustments to corporate tax rates; provided, however, that if an Award is intended to qualify as “performance-based compensation” within the meaning of Code Section 162(m), such adjustment(s) shall only be made to the extent consistent with Code Section 162(m).

 

14.26      “Performance Period” means a period of time selected by the Administrator over which the attainment of one or more Performance Goals will be measured for the purpose of determining a Participant’s right to a Performance Cash Award or an Award of Restricted Shares or Stock Units that vests based on the achievement of Performance Goals.  Performance Periods may be of varying and overlapping duration, at the discretion of the Administrator.

 

14.27      “Plan” means this MaxPoint Interactive, Inc. 2015 Equity Incentive Plan, as amended from time to time.

 

14.28      “Predecessor Plan” means the Company’s 2010 Equity Incentive Plan, as amended.

 

14.29      “Restricted Share” means a Common Share awarded under the Plan.

 

14.30      “Restricted Stock Agreement” means the agreement between the Company and the recipient of a Restricted Share that contains the terms, conditions and restrictions pertaining to such Restricted Share.

 

14.31      “SAR” means a stock appreciation right granted under the Plan.

 

14.32      “SAR Agreement” means the agreement between the Company and an Optionee that contains the terms, conditions and restrictions pertaining to his or her SAR.

 

14.33      “Securities Act” means the Securities Act of 1933, as amended.

 

14.34      “Service” means service as an Employee, Outside Director or Consultant.

 

14.35      “Service Provider” means any individual who is an Employee, Outside Director or Consultant.

 

14.36      “Stock Award” means any award of an Option, a SAR, a Restricted Share or a Stock Unit under the Plan.

 

14.37      “Stock Option Agreement” means the agreement between the Company and an Optionee that contains the terms, conditions and restrictions pertaining to his or her Option.

 

16

 

14.38      “Stock Unit” means a bookkeeping entry representing the equivalent of one Common Share, as awarded under the Plan.

 

14.39      “Stock Unit Agreement” means the agreement between the Company and the recipient of a Stock Unit that contains the terms, conditions and restrictions pertaining to such Stock Unit.

 

14.40      “Subsidiary” means any corporation (other than the Company) in an unbroken chain of corporations beginning with the Company, if each of the corporations other than the last corporation in the unbroken chain owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain.  A corporation that attains the status of a Subsidiary on a date after the adoption of the Plan shall be considered a Subsidiary commencing as of such date

 

14.41      “Substitute Awards” means Awards or Common Shares issued by the Company in assumption of, or substitution or exchange for, Awards previously granted, or the right or obligation to make future awards, in each case by a corporation acquired by the Company or any Affiliate or with which the Company or any Affiliate combines to the extent permitted by NASDAQ Marketplace Rule 5635 or any successor thereto.

 

17

 

APPENDIX A

 

PERFORMANCE CRITERIA

 

The Administrator may establish Performance Goals derived from one or more of the following criteria when it makes Awards of Restricted Shares or Stock Units that vest entirely or in part on the basis of performance or when it makes Performance Cash Awards:

 

	
 
	
·      Earnings   (before or after taxes)
    	
 
    	
·      Sales or revenue
    	
 

	
 
	
 
    	
 
    	
 
    	
 

	
 
	
 
    	
 
    	
·      Revenue excluding total advertising cost
    	
 

	
 
	
 
    	
 
    	
 
    	
 

	
 
	
·      Earnings per share
    	
 
    	
·      Expense or cost reduction
    	
 

	
 
	
 
    	
 
    	
 
    	
 

	
 
	
·      Earnings before interest, taxes and depreciation
    	
 
    	
·      Working capital
    	
 

	
 
	
 
    	
 
    	
 
    	
 

	
 
	
·      Earnings before interest, taxes, depreciation and   amortization
    	
 
    	
·      Economic value added (or an equivalent metric)
    	
 

	
 
	
 
    	
 
    	
 
    	
 

	
 
	
·      Total stockholder return
    	
 
    	
·      Market share
    	
 

	
 
	
 
    	
 
    	
 
    	
 

	
 
	
·      Return on equity or average stockholders’ equity
    	
 
    	
·      Cash flow or cash balance
    	
 

	
 
	
 
    	
 
    	
 
    	
 

	
 
	
·      Return on assets, investment or capital employed
    	
 
    	
·      Operating cash flow
    	
 

	
 
	
 
    	
 
    	
 
    	
 

	
 
	
·      Operating income
    	
 
    	
·      Cash flow per share
    	
 

	
 
	
 
    	
 
    	
 
    	
 

	
 
	
·      Gross margin
    	
 
    	
·      Share price
    	
 

	
 
	
 
    	
 
    	
 
    	
 

	
 
	
·      Operating margin
    	
 
    	
·      Debt reduction
    	
 

	
 
	
 
    	
 
    	
 
    	
 

	
 
	
·      Net operating income
    	
 
    	
·      Customer satisfaction
    	
 

	
 
	
 
    	
 
    	
 
    	
 

	
 
	
·      Net operating income after tax
    	
 
    	
·      Stockholders’ equity
    	
 

	
 
	
 
    	
 
    	
 
    	
 

	
 
	
·      Return on operating revenue
    	
 
    	
·      Contract awards or backlog
    	
 

	
 
    
	
·      To the extent that an Award is not intended to comply with   Code Section 162(m), other measures of performance selected by the   Administrator.
    
					

 

 

MAXPOINT INTERACTIVE, INC. 

2015 EQUITY INCENTIVE PLAN

NOTICE OF STOCK OPTION GRANT

 

You have been granted the following option to purchase shares of the common stock of MaxPoint Interactive, Inc. (the “Company”):

 

	
Name of Optionee:
    	
 
    	
«Name»
    
	
 
    	
 
    	
 
    
	
Total   Number of Shares:
    	
 
    	
«TotalShares»
    
	
 
    	
 
    	
 
    
	
Type   of Option:
    	
 
    	
«ISO»  Incentive   Stock Option
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
«NSO» Nonstatutory Stock Option
    
	
 
    	
 
    	
 
    
	
Exercise   Price per Share:
    	
 
    	
$«PricePerShare»
    
	
 
    	
 
    	
 
    
	
Date of Grant:
    	
 
    	
«DateGrant»
    
	
 
    	
 
    	
 
    
	
Vesting Commencement Date:
    	
 
    	
«VestDay»
    
	
 
    	
 
    	
 
    
	
Vesting Schedule:
    	
 
    	
This option vests and becomes exercisable with respect to the first «CliffPercent»% of the shares subject to this   option when you complete «CliffPeriod»   months of continuous “Service” (as defined in the below) from the Vesting   Commencement Date. Thereafter, this option vests and becomes exercisable with   respect to an additional «Percent»% of   the shares subject to this option when you complete each additional «IncrementPeriod» month of continuous   Service. For all purposes applicable to this option, “Service” means your   continuous service as an Employee or Consultant.
    
	
 
    	
 
    	
 
    
	
Expiration   Date:
    	
 
    	
«ExpDate». This option expires earlier if your   Service terminates earlier, as described in the Stock Option Agreement, and   may terminate earlier in connection with certain corporate transactions as   described in Article 9 of the Plan.
    

 

 

You and the Company agree that this option is granted under and governed by the terms and conditions of the Company’s 2015 Equity Incentive Plan (the “Plan”) and the Stock Option Agreement, both of which are attached to, and made a part of, this document.

 

You further agree to accept by email all documents relating to the Plan or this option (including, without limitation, prospectuses required by the Securities and Exchange Commission) and all other documents that the Company is required to deliver to its security holders (including, without limitation, annual reports and proxy statements).  You also agree that the Company may deliver these documents by posting them on a website maintained by the Company or by a third party under contract with the Company.  If the Company posts these documents on a website, it will notify you by email.

 

You further agree to comply with the Company’s Insider Trading Policy when selling shares of the Company’s common stock.

 

	
OPTIONEE
    	
 
    	
MAXPOINT   INTERACTIVE, INC.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
Title:
    	
 
    

 

2

 

MAXPOINT INTERACTIVE, INC. 
 2015 EQUITY INCENTIVE PLAN

 

STOCK OPTION AGREEMENT

 

	
Grant   of Option
    	
 
    	
Subject   to all of the terms and conditions set forth in the Notice of Stock Option   Grant, this Stock Option Agreement (the “Agreement”) and the Plan, the   Company has granted you an option to purchase up to the total number of   shares specified in the Notice of Stock Option Grant at the exercise price   indicated in the Notice of Stock Option Grant.

 

All   capitalized terms used in this Agreement shall have the meanings assigned to   them in this Agreement, the Notice of Stock Option Grant or the Plan.
    
	
 
    	
 
    	
 
    
	
Tax   Treatment
    	
 
    	
This   option is intended to be an incentive stock option under Section 422 of   the Code or a nonstatutory stock option, as provided in the Notice of Stock   Option Grant.  However, even if this   option is designated as an incentive stock option in the Notice of Stock   Option Grant, it shall be deemed to be a nonstatutory stock option to the   extent it does not qualify as an incentive stock option under federal tax   law, including under the $100,000 annual limitation under   Section 422(d) of the Code.
    
	
 
    	
 
    	
 
    
	
Vesting
    	
 
    	
This option vests and becomes exercisable in accordance with the   vesting schedule set forth in the Notice of Stock Option Grant.

 

In   no event will this option vest or become exercisable for additional shares   after your Service has terminated for any reason.
    
	
 
    	
 
    	
 
    
	
Term
    	
 
    	
This   option expires in any event at the close of business at Company headquarters   on the day before the 10th anniversary of the Date of   Grant, as shown in the Notice of Stock Option Grant.  (This option will expire earlier if your   Service terminates, as described below, and this option may be terminated   earlier as provided in Article 9 of the Plan.)
    
	
 
    	
 
    	
 
    
	
Termination   of Service
    	
 
    	
If   your Service terminates for any reason, this option will expire immediately   to the extent the option is unvested as of your termination date and does not   vest as a result of your termination of Service. The Company determines when   your Service terminates for all purposes of this option.
    
	
 
    	
 
    	
 
    
	
Regular   Termination
    	
 
    	
If   your Service terminates for any reason except death or total and permanent   disability, then this option, to the extent vested as of your termination   date, will expire at the close of business at Company headquarters on the   date three months after your termination date.
    

 

 

	
Death
    	
 
    	
If   you die before your Service terminates, then this option will expire at the   close of business at Company headquarters on the date 12 months after the   date of death.
    
	
 
    	
 
    	
 
    
	
Disability
    	
 
    	
If your Service terminates because of your total and permanent   disability, then this option will expire at the close of business at Company   headquarters on the date 12 months after your termination date.

 

For   all purposes under this Agreement, “total and permanent disability” means   that you are unable to engage in any substantial gainful activity by reason   of any medically determinable physical or mental impairment which can be   expected to result in death or which has lasted, or can be expected to last,   for a continuous period of not less than one year.
    
	
 
    	
 
    	
 
    
	
Leaves   of Absence and Part-Time Work
    	
 
    	
For purposes of this option, your Service does not terminate when you   go on a military leave, a sick leave or another bona fide   leave of absence, if the leave was approved by the Company in writing and if   continued crediting of Service is required by applicable law, the Company’s   leave of absence policy, or the terms of your leave.  However, your Service terminates when the   approved leave ends, unless you immediately return to active work.

 

If you go on a leave of absence, then the vesting schedule specified   in the Notice of Stock Option Grant may be adjusted in accordance with the   Company’s leave of absence policy or the terms of your leave.  If you commence working on a part-time   basis, the Company may adjust the vesting schedule so that the rate of   vesting is commensurate with your reduced work schedule.
    
	
 
    	
 
    	
 
    
	
Notice Concerning Incentive Stock Option Treatment
    	
 
    	
Even if this option is designated as an incentive stock option in the   Notice of Stock Option Grant, it ceases to qualify for favorable tax   treatment as an incentive stock option to the extent that it is exercised:   (a) more than three months after the date when you cease to be an   Employee for any reason other than death or permanent and total disability   (as defined in Section 22(e)(3) of the Code), (b) more than 12   months after the date when you cease to be an Employee by reason of permanent   and total disability (as defined in Section 22(e)(3) of the Code)   or (c) more than three months after the date when you have been on a   leave of absence for three months, unless your reemployment rights following   such leave were guaranteed by statute or by contract.
    
	
 
    	
 
    	
 
    
	
Restrictions   on Exercise
    	
 
    	
The Company will not permit you to exercise this option if the   issuance of shares at that time would violate any law or regulation.
    
	
 
    	
 
    	
 
    
	
Notice   of Exercise
    	
 
    	
When you wish to exercise this option, you must notify the Company by   filing the proper “Notice of Exercise” form at the address given on the 
    

 

2

 

	
 
    	
 
    	
form or, if the Company has designated a brokerage firm to administer   the Plan, you must notify such brokerage firm in the manner such brokerage   firm requires.  Your notice must   specify how many shares you wish to purchase.    The notice will be effective when the Company receives it.

 

However, if you wish to exercise this option by executing a same-day   sale (as described below), you must follow the instructions of the Company   and the broker who will execute the sale.

 

If someone else wants to exercise this option after your death, that   person must prove to the Company’s satisfaction that he or she is entitled to   do so.

 

You may only exercise your option for whole shares.
    
	
 
    	
 
    	
 
    
	
Form of   Payment
    	
 
    	
When you submit your notice of exercise, you must include payment of   the option exercise price for the shares that you are purchasing.  To the extent permitted by applicable law,   payment may be made in one (or a combination of two or more) of the following   forms:

 

·                  By delivering to the   Company your personal check, a cashier’s check or a money order, or arranging   for a wire transfer.

 

·                  By delivering to the   Company certificates for shares of Company stock that you own, along with any   forms needed to effect a transfer of those shares to the Company.  The value of the shares, determined as of   the effective date of the option exercise, will be applied to the option   exercise price.  Instead of surrendering   shares of Company stock, you may attest to the ownership of those shares on a   form provided by the Company and have the same number of shares subtracted   from the option shares issued to you.

 

·                  By giving to a securities   broker approved by the Company irrevocable directions to sell all or part of   your option shares and to deliver to the Company, from the sale proceeds, an   amount sufficient to pay the option exercise price and any withholding taxes.  (The balance of the sale proceeds, if any,   will be delivered to you.)  The   directions must be given in accordance with the instructions of the Company   and the broker.  This exercise method   is sometimes called a “same-day sale.”
    
	
 
    	
 
    	
 
    
	
Withholding   Taxes
    	
 
    	
You will not be allowed to exercise this option unless you make   arrangements acceptable to the Company to pay any withholding taxes that may   be due as a result of the option exercise.    These arrangements include payment in cash. With the Company’s consent,   these arrangements may also include (a) payment from the proceeds of the   sale of shares through a Company-approved broker, (b) withholding shares   of Company stock that otherwise would be issued to you when you exercise this   option with a fair market value no greater than the minimum amount
    

 

3

 

	
 
    	
 
    	
required to be withheld by law, (c) surrendering shares that you   previously acquired with a fair market value no greater than the minimum   amount required to be withheld by law, or (d) withholding cash from   other compensation.  The fair market   value of withheld or surrendered shares, determined as of the date when taxes   otherwise would have been withheld in cash, will be applied to the   withholding taxes.
    
	
 
    	
 
    	
 
    
	
Restrictions   on Resale
    	
 
    	
You agree not to sell any option shares at a time when applicable   laws, Company policies or an agreement between the Company and its   underwriters prohibit a sale.  This   restriction will apply as long as your Service continues and for such period   of time after the termination of your Service as the Company may specify.
    
	
 
    	
 
    	
 
    
	
Transfer   of Option
    	
 
    	
Prior to your death, only you may exercise this option.  You cannot transfer or assign this   option.  For instance, you may not sell   this option or use it as security for a loan.    If you attempt to do any of these things, this option will immediately   become invalid.  You may, however,   dispose of this option in your will or by means of a written beneficiary   designation; provided, however, that your beneficiary or a representative of   your estate acknowledges and agrees in writing in a form reasonably   acceptable to the Company, to be bound by the provisions of this Agreement   and the Plan as if such beneficiary of the estate were you.

 

Regardless of any marital property settlement agreement, the Company   is not obligated to honor a notice of exercise from your former spouse, nor   is the Company obligated to recognize your former spouse’s interest in your   option in any other way.
    
	
 
    	
 
    	
 
    
	
Retention   Rights
    	
 
    	
Your option or this Agreement does not give you the right to be   retained by the Company, a Parent, Subsidiary, or an Affiliate in any   capacity.  The Company and its Parents,   Subsidiaries, and Affiliates reserve the right to terminate your Service at   any time, with or without cause.
    
	
 
    	
 
    	
 
    
	
Stockholder   Rights
    	
 
    	
You, or your estate or heirs, have no rights as a stockholder of the   Company until you have exercised this option by giving the required notice to   the Company, paying the exercise price, and satisfying any applicable   withholding taxes.  No adjustments are   made for dividends or other rights if the applicable record date occurs   before you exercise this option, except as described in the Plan.
    
	
 
    	
 
    	
 
    
	
Recoupment   Policy
    	
 
    	
This option, and the shares acquired upon exercise of this option,   shall be subject to any Company recoupment policy in effect from time to   time.
    
	
 
    	
 
    	
 
    
	
Adjustments
    	
 
    	
In the event of a stock split, a stock dividend or a similar change   in Company stock, the number of shares covered by this option and the exercise   price per share will be adjusted pursuant to the Plan.
    
	
 
    	
 
    	
 
    
	
Effect of Significant 
    	
 
    	
If the Company is a party to a merger, consolidation, or certain   change in control transactions, then this option will be subject to the   applicable
    

 

4

 

	
Corporate Transactions
    	
 
    	
provisions of Article 9 of the Plan.
    
	
 
    	
 
    	
 
    
	
Applicable   Law
    	
 
    	
This Agreement will be interpreted and enforced under the laws of the   State of Delaware (without regard to its choice-of-law provisions).
    
	
 
    	
 
    	
 
    
	
The   Plan and Other Agreements
    	
 
    	
The text of the Plan is incorporated in this Agreement by reference.

 

This Plan, this Agreement and the Notice of Stock Option Grant   constitute the entire understanding between you and the Company regarding   this option.  Any prior agreements,   commitments or negotiations concerning this option are superseded.  This Agreement may be amended only by   another written agreement between the parties.
    

 

BY SIGNING THE COVER SHEET OF THIS AGREEMENT, YOU AGREE TO ALL OF THE TERMS AND CONDITIONS DESCRIBED ABOVE AND IN THE PLAN.

 

5

 

MAXPOINT INTERACTIVE, INC. 
 2015 EQUITY INCENTIVE PLAN
 NOTICE OF STOCK UNIT AWARD

 

You have been granted stock units representing shares of common stock of MaxPoint Interactive, Inc. (the “Company”) on the following terms:

 

	
Name   of Recipient:
    	
 
    	
«Name»
    
	
 
    	
 
    	
 
    
	
Total   Number of Stock Units Granted:
    	
 
    	
«TotalUnits»
    
	
 
    	
 
    	
 
    
	
Date   of Grant:
    	
 
    	
«DateGrant»
    
	
 
    	
 
    	
 
    
	
Vesting   Commencement Date:
    	
 
    	
«VestDay»
    
	
 
    	
 
    	
 
    
	
Vesting   Schedule:
    	
 
    	
The   first «CliffPercent»% of the stock   units subject to this award will vest when you complete «CliffPeriod» months of continuous “Service”   (as defined in the Plan) after the Vesting Commencement Date. Thereafter, an   additional «IncrementPercent»% of the   stock units subject to this award will vest when you complete each additional   «IncrementPeriod»-month period of   continuous Service. For all purposes applicable to your stock units,   “Service” means your continuous service as an Employee or Consultant.
    

 

You and the Company agree that these stock units are granted under and governed by the terms and conditions of the Company’s 2015 Equity Incentive Plan (the “Plan”) and the Stock Unit Agreement, both of which are attached to, and made a part of, this document.

 

You further agree to accept by email all documents relating to the Plan or this award (including, without limitation, prospectuses required by the Securities and Exchange Commission) and all other documents that the Company is required to deliver to its security holders (including, without limitation, annual reports and proxy statements).  You also agree that the Company may deliver these documents by posting them on a website maintained by the Company or by a third party under contract with the Company.  If the Company posts these documents on a website, it will notify you by email.

 

You further agree to comply with the Company’s Insider Trading Policy when selling shares of the Company’s common stock.

 

 

 

	
RECIPIENT
    	
 
    	
MAXPOINT   INTERACTIVE, INC.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
Title:
    	
 
    

 

2

 

MAXPOINT INTERACTIVE, INC. 
 2015 EQUITY INCENTIVE PLAN

 

STOCK UNIT AGREEMENT

 

	
Grant of Units
    	
 
    	
Subject to all of the terms and conditions set forth in the Notice of   Stock Unit Award, this Stock Unit Agreement (the “Agreement”) and the Plan,   the Company has granted to you the number of stock units set forth in the   Notice of Stock Unit Award.

 

All capitalized terms used in this Agreement shall have the meanings   assigned to them in this Agreement, the Notice of Stock Unit Award or the   Plan.
    
	
 
    	
 
    	
 
    
	
Payment for Units
    	
 
    	
No payment is required for the stock units that you are receiving.
    
	
 
    	
 
    	
 
    
	
Vesting
    	
 
    	
The stock units vest in accordance with the vesting schedule set   forth in the Notice of Stock Unit Award.    No additional stock units will vest after your Service has terminated   for any reason.
    
	
 
    	
 
    	
 
    
	
Forfeiture
    	
 
    	
If your Service terminates for any reason, then your stock units will   be forfeited to the extent that they have not vested before the termination   date and do not vest as a result of the termination of your Service.  This means that any stock units that have   not vested under this Agreement will be cancelled immediately.  You receive no payment for stock units that   are forfeited.  The Company determines   when your Service terminates for all purposes of your stock units.
    
	
 
    	
 
    	
 
    
	
Leaves of Absence and Part-Time Work
    	
 
    	
For purposes of this award, your Service does not terminate when you   go on a military leave, a sick leave or another bona fide   leave of absence, if the leave was approved by the Company in writing and if   continued crediting of Service is required by applicable law, the Company’s   leave of absence policy, or the terms of your leave.  However, your Service terminates when the   approved leave ends, unless you immediately return to active work.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
If you go on a leave of absence, then the vesting schedule specified   in the Notice of Stock Unit Award may be adjusted in accordance with the   Company’s leave of absence policy or the terms of your leave.  If you commence working on a part-time   basis, the Company may adjust the vesting schedule so that the rate of   vesting is commensurate with your reduced work schedule.  
    

 

 

	
Settlement of Units
    	
 
    	
Each stock unit will be settled on the first Permissible Trading Day   that occurs on or after the day when the stock unit vests.  However, each stock unit must be settled   not later than March 15th of the calendar year following the calendar   year in which the stock unit vests.

 

At the time of settlement, you will receive one share of the   Company’s common stock for each vested stock unit.  But the Company, at its sole discretion,   may substitute an equivalent amount of cash if the distribution of stock is   not reasonably practicable due to the requirements of applicable law.  The amount of cash will be determined on   the basis of the market value of the Company’s common stock at the time of   settlement.

 

No fractional shares will be issued upon settlement.  
    
	
 
    	
 
    	
 
    
	
“Permissible Trading Day”
    	
 
    	
“Permissible Trading Day” means a day that satisfies each of the   following requirements:

 

·            The New York Stock   Exchange is open for trading on that day;

 

·            You are permitted to sell   shares of the Company’s common stock on that day without incurring liability   under Section 16(b) of the Securities Exchange Act of 1934, as   amended;

 

·            Either (a) you are   not in possession of material non-public information that would make it   illegal for you to sell shares of the Company’s common stock on that day   under Rule 10b-5 of the Securities and Exchange Commission or   (b) Rule 10b5-1 of the Securities and Exchange Commission is   applicable;

 

·            Under the Company’s Insider Trading Policy, you are permitted to sell shares   of the Company’s common stock on that day; and

 

·            You are not prohibited   from selling shares of the Company’s common stock on that day by a written   agreement between you and the Company or a third party.
    

 

2

 

	
Section 409A
    	
 
    	
This paragraph applies only if the Company determines that you are a   “specified employee,” as defined in the regulations under Code   Section 409A at the time of your “separation from service,” as defined   in Treasury Regulation Section 1.409A-1(h) and it is determined   that settlement of these stock units is not exempt from Code   Section 409A.  If this paragraph   applies, and the event triggering settlement is your “separation from   service,” then any stock units that otherwise would have been settled during   the first six months following your “separation from service” will instead be   settled on the first business day following the earlier of (i) the   six-month anniversary of your separation from service or (ii) your   death.

 

Each installment of stock units that vests is hereby designated as a   separate payment for purposes of Code Section 409A.
    
	
 
    	
 
    	
 
    
	
Nature of Units
    	
 
    	
Your stock units are mere bookkeeping entries.  They represent only the Company’s unfunded   and unsecured promise to issue shares of common stock (or distribute cash) on   a future date.  As a holder of stock   units, you have no rights other than the rights of a general creditor of the   Company.
    
	
 
    	
 
    	
 
    
	
No Voting Rights or Dividends
    	
 
    	
Your stock units carry neither voting rights nor rights to cash   dividends.  You have no rights as a   stockholder of the Company unless and until your stock units are settled by   issuing shares of the Company’s common stock.
    
	
 
    	
 
    	
 
    
	
Units Nontransferable
    	
 
    	
You may not sell, transfer, assign, pledge or otherwise dispose of   any stock units.  For instance, you may   not use your stock units as security for a loan.
    
	
 
    	
 
    	
 
    
	
Beneficiary Designation
    	
 
    	
You may dispose of your stock units in a written beneficiary   designation.  A beneficiary designation   must be filed with the Company on the proper form.  It will be recognized only if it has been   received at the Company’s headquarters before your death.  If you file no beneficiary designation or   if none of your designated beneficiaries survives you, then your estate will   receive any vested stock units that you hold at the time of your death.
    

 

3

 

	
Withholding Taxes
    	
 
    	
No   stock certificates (or their electronic equivalent) or cash will be   distributed to you unless you have made arrangements satisfactory to the   Company for the payment of any withholding taxes that are due as a result of   the vesting or settlement of stock units.    You may satisfy these withholding obligations by paying cash to the   Company.  At the discretion of the   Company, these arrangements may also include (a) payment from the   proceeds of the sale of shares through a Company-approved broker,   (b) withholding shares of Company stock that otherwise would be issued   to you when the stock units are settled with a fair market value no greater   than the minimum amount required to be withheld by law, (c) surrendering   shares that you previously acquired with a fair market value no greater than   the minimum amount required to be withheld by law, or (d) withholding   cash from other compensation. The fair market value of withheld or   surrendered shares, determined as of the date when taxes otherwise would have   been withheld in cash, will be applied to the withholding taxes.

 

To the extent you fail to make satisfactory arrangements for the   payment of any required withholding taxes, you will permanently forfeit the   applicable stock units.  
    
	
 
    	
 
    	
 
    
	
Restrictions on Resale
    	
 
    	
You agree not to sell any shares at a time when applicable laws,   Company policies or an agreement between the Company and its underwriters   prohibit a sale.  This restriction will   apply as long as your Service continues and for such period of time after the   termination of your Service as the Company may specify.
    
	
 
    	
 
    	
 
    
	
Retention Rights
    	
 
    	
Your award or this Agreement does not give you the right to be   retained by the Company, a Parent, Subsidiary, or an Affiliate in any   capacity.  The Company and its Parents,   Subsidiaries, and Affiliates reserve the right to terminate your Service at   any time, with or without cause.
    
	
 
    	
 
    	
 
    
	
Adjustments
    	
 
    	
In the event of a stock split, a stock dividend or a similar change   in Company stock, the number of your stock units will be adjusted   accordingly, as the Company may determine pursuant to the Plan.
    
	
 
    	
 
    	
 
    
	
Effect of Significant Corporate Transactions
    	
 
    	
If the Company is a party to a merger, consolidation, or certain   change in control transactions, then your stock units will be subject to the   applicable provisions of Article 9 of the Plan, provided that any action   taken must either (a) preserve the exemption of your stock units from   Code Section 409A or (b) comply with Code Section 409A.
    
	
 
    	
 
    	
 
    
	
Recoupment Policy
    	
 
    	
This award, and the shares acquired upon settlement of this award,   shall be subject to any Company recoupment or clawback policy in effect from   time to time.
    

 

4

 

	
Applicable Law
    	
 
    	
This Agreement will be interpreted and enforced under the laws of the   State of Delaware (without regard to its choice-of-law provisions).
    
	
 
    	
 
    	
 
    
	
The Plan and Other Agreements
    	
 
    	
The text of the Plan is incorporated in this Agreement by reference.

 

The Plan, this Agreement and the Notice of Stock Unit Award   constitute the entire understanding between you and the Company regarding   this award.  Any prior agreements,   commitments or negotiations concerning this award are superseded.  This Agreement may be amended only by   another written agreement between the parties.
    

 

BY SIGNING THE COVER SHEET OF THIS AGREEMENT, YOU AGREE TO ALL OF THE
 TERMS AND CONDITIONS DESCRIBED ABOVE AND IN THE PLAN.

 

5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00240-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00240-of-00352.parquet"}]]