Document:

EX-10.3

 Exhibit 10.3 

ZAI LAB LIMITED 

2022 EQUITY INCENTIVE PLAN 

RESTRICTED SHARE AWARD AGREEMENT 

This award evidences the grant of Restricted Shares represented by [ADSs / Ordinary Shares] (the “Award”) by Zai Lab Limited
(the “Company”), on [________] to [___________] (the “Grantee”) pursuant to and subject to the terms of the Zai Lab Limited 2022 Equity Incentive Plan (as from time to time in effect, the “Plan”).
Except as otherwise defined herein, all capitalized terms used herein have the same meaning as in the Plan. 
 1. Grant of Restricted
Shares. The Company grants to the Grantee on the date set forth above (the “Date of Grant”) [________] Restricted Shares represented by [____] ADSs (the “Shares”). Each ADS represents the right to receive [___]
([__]) Ordinary Shares (subject to any Share dividend, Share split or combination of Shares (including a reverse Share split)). No Shares can be acquired by the Grantee pursuant to this Award unless, within 14 days of the Date of Grant, the Grantee
has acknowledged and accepted the Award and thereby agreed to its terms by signing a copy of this instrument in the space indicated below and returning it to [____________]. 

2. Nontransferability of Shares. The Shares acquired by the Grantee pursuant to this Award shall not be sold, transferred, pledged,
assigned or otherwise encumbered or disposed of except as provided below and in the Plan. 
 3. Vesting; Forfeiture. The vesting and
forfeiture provisions applicable to the Award are set forth in Exhibit A hereto. 
 4. Compliance with Plan Restrictions; Recovery
of Compensation. 
 (a) By accepting the Award, the Grantee expressly acknowledges and agrees that in addition to the
vesting and forfeiture provisions set forth in Exhibit A hereto, the Award (whether or not vested) is subject to forfeiture, and the Grantee and any permitted transferee will be obligated to return to the Company the value received with respect to
the Award (including any gain realized on a subsequent sale or disposition of Shares) in accordance with any clawback or similar policy maintained by the Company, as such policy may be amended and in effect from time to time. 

(b) The Grantee hereby (i) appoints the Company as the
attorney-in-fact of the undersigned to take such actions as may be necessary or appropriate to effectuate a transfer of the record ownership of any Shares that are
unvested and forfeited hereunder, (ii) agrees to deliver to the Company, as a precondition to the issuance of any certificate or certificates with respect to unvested Shares hereunder, one or more stock powers, endorsed in blank, with respect
to such Shares, and (iii) agrees to sign such other powers and take such other actions as the Company may reasonably request to accomplish the transfer or forfeiture of any unvested Shares that are forfeited hereunder. 

 5. Dividends. The Grantee shall be entitled to receive any and all dividends or other
distributions paid with respect to those Shares of which the Grantee is the record owner on the record date for such dividend or other distribution; provided, however, that any property or cash (including, without limitation, any
regular cash dividends) distributed with respect to a Share (the “associated share”) acquired hereunder, including without limitation a distribution of Shares by reason of a Share dividend, Share split or otherwise, or a
distribution of other securities with respect to an associated share, shall be subject to the restrictions of this Award in the same manner and for so long as the associated share remains subject to such restrictions, and shall be promptly forfeited
if and when the associated share is so forfeited; and further provided, that the Administrator may require that any cash distribution with respect to the Shares be placed in escrow. Any cash amounts that would otherwise have been paid
with respect to an associated share shall be accumulated and paid to the Grantee, without interest, only upon, or within thirty (30) days following, the date on which such associated share vests hereunder (the “Vesting Date”)
and any other property distributable with respect to such associated share shall also vest on the Vesting Date. 
 6. Retention of
Certificates. Any certificates representing unvested Shares shall be held by the Company. If unvested Shares are held in book entry form, the undersigned agrees that the Company may give stop transfer instructions to the depository to ensure
compliance with the provisions hereof. 
 7. Legends. Any certificates representing unvested Shares will bear such legends as
determined by the Company that discloses the restrictions on transferability imposed on such Shares as a result of this Award and the Plan. As soon as practicable following the vesting of any such Shares, the Company shall cause a certificate or
certificates covering such Shares, without the aforesaid legend, to be issued and delivered to the undersigned. If any Shares are held in book-entry form, the Company may take such steps as it deems necessary or appropriate to record and manifest
the restrictions applicable to such Shares. 
 8. Certain Tax Matters. 

(a) The Grantee has been advised to confer promptly with a professional tax advisor to consider whether the Grantee should make
a so-called “83(b) election” with respect to the Shares. Any such election, to be effective, must be made in accordance with applicable regulations and within thirty (30) days following the date
this Award is granted, and the Grantee must provide the Company with a copy of the 83(b) election prior to filing. The Company has made no recommendation to the Grantee with respect to the advisability of making such an election. 

(b) The Grantee expressly acknowledges and agrees that he or she shall be responsible for satisfying and paying all taxes
arising from or due in connection with the grant or vesting of the Award. The Company shall have no liability or obligation relating to the foregoing. 

  
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 9. Effect on Service. The grant of the Shares will not give the Grantee any right to
be retained in the service of the Company or any of its affiliates, affect the right of the Company or any of its affiliates to discharge or discipline such Grantee at any time, or affect any right of such Grantee to terminate his or her service at
any time. 
 10. Provisions of the Plan. This Award is subject to the provisions of the Plan, which are incorporated herein by
reference. A copy of the Plan as in effect on the Date of Grant of this Award has been furnished or made available to the Grantee. By accepting this Award, the Grantee agrees to be bound by the terms of the Plan and this Award. All initially
capitalized terms used herein will have the meaning specified in the Plan, unless another meaning is specified herein. 
 [Signature page
follows.] 

  
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 IN WITNESS WHEREOF, the Company has caused this instrument to be executed by its duly
authorized officer. 
  

			
	ZAI LAB LIMITED
		
	By	 	
                 

	
	Dated: [____________]

  

	
	The undersigned hereby acknowledges the terms set forth above and in Exhibit A, and in the Plan, and agrees to be bound thereby:
	
	
                 

	[Name of Grantee]
	
	Dated: [____________]

 Signature Page to Restricted Share Award Agreement 

 Exhibit A 

[Specific vesting and forfeiture terms to be specified in each grant.]EX-10.4

 Exhibit 10.4 
  

			
	Name:	  	[____________]
	Number of Restricted Share Units subject to Award:	  	[____________]
	Date of Grant:	  	[____________]

 ZAI LAB LIMITED 

2022 EQUITY INCENTIVE PLAN 

RESTRICTED SHARE UNIT AWARD AGREEMENT 

This agreement (this “Agreement”) evidences an award (the “Award”) of Restricted Share Units granted by Zai
Lab Limited (the “Company”) to the individual named above (the “Grantee”), pursuant to and subject to the terms of the Zai Lab Limited 2022 Equity Incentive Plan (as amended from time to time, the
“Plan”). 
 1. Grant of Restricted Share Unit Award. The Company grants to the Grantee on the date set forth above
(the “Date of Grant”) the number of Restricted Share Units (the “Restricted Share Units”) set forth above giving the Grantee the conditional right to receive, without payment and pursuant to and subject to the terms
set forth in this Agreement and in the Plan, one ADS (each, a “Share”) with respect to each Restricted Share Unit forming part of the Award, subject to adjustment pursuant to Section 7 of the Plan in respect of transactions occurring
after the date hereof. Each ADS represents the right to receive [__] ([_]) Ordinary Shares (subject to any Share dividend, Share split or combination of Shares (including a reverse Share split)). 

2. Meaning of Certain Terms. Except as otherwise defined herein, all capitalized terms used herein have the same meaning as in the
Plan. The following terms have the following meanings: 
  

	 	(a)	 “Beneficiary” means, in the event of the Grantee’s death, the beneficiary named in the
written designation (in a form acceptable to the Administrator) most recently filed with the Administrator by the Grantee prior to the Grantee’s death and not subsequently revoked, or, if there is no such designated beneficiary, the executor or
administrator of the Grantee’s estate. An effective beneficiary designation will be treated as having been revoked only upon receipt by the Administrator, prior to the Grantee’s death, of an instrument of revocation in a form acceptable to
the Administrator. 

 3. Vesting; Cessation of Employment. 

 

	 	(a)	 Vesting. Unless earlier terminated, forfeited, relinquished or expired, the Restricted Share Units will
vest as follows, subject to the Grantee remaining in continuous Employment from the Date of Grant through each such vesting date: 

  

	 	(i)	 [Specific vesting terms to be specified in each grant.] 

	 	(b)	 Forfeiture. Automatically and immediately upon the cessation of the Grantee’s Employment
(i) the unvested portion of the Award will terminate and be forfeited for no consideration, and (ii) the vested portion of the Award, if any, will terminate and be forfeited for no consideration if the Grantee’s Employment is
terminated in connection with an act or failure to act constituting Cause (as the Administrator, in its sole discretion, may determine), or such termination of Employment occurs in circumstances that in the determination of the Administrator would
have entitled the Company and its subsidiaries to terminate the Grantee’s Employment for Cause. 

 4. Delivery of
Shares. Subject to Section 5 below, the Company shall, as soon as practicable upon the vesting of any portion of the Award (but in no event later than 30 days following the date on which such Restricted Share Units vest), effect delivery of
the Shares with respect to such vested Restricted Share Units to the Grantee (or, in the event of the Grantee’s death following the vesting of such portion of the Award, to the Grantee’s Beneficiary). No Shares will be issued pursuant to
the Award unless and until all legal requirements applicable to the issuance or transfer of such Shares have been complied with to the satisfaction of the Administrator. 

5. Forfeiture; Recovery of Compensation. The Administrator may cancel, rescind, withhold or otherwise limit or restrict the Award at
any time if the Grantee is not in compliance with all applicable provisions of this Agreement and the Plan. By accepting, or being deemed to have accepted, the Award, the Grantee expressly acknowledges and agrees that his or her rights, and those of
any Beneficiary or permitted transferee of the Award, under the Award, including the right to any Shares acquired under the Award or proceeds from the disposition thereof, are subject to Section 6(a)(5) of the Plan (including any successor
provision). Nothing in the preceding sentence may be construed as limiting the general application of Section 8 of this Agreement. 

6. Dividends; Other Rights. The Award may not be interpreted to bestow upon the Grantee any equity interest or ownership in the Company
or any subsidiary prior to the date on which the Company delivers Shares to the Grantee. The Grantee is not entitled to vote any Shares by reason of the granting of the Award or to receive or be credited with any dividends declared and payable on
any Share prior to the date on which any such Share is delivered to the Grantee hereunder. The Grantee will have the rights of a shareholder only as to those Shares, if any, that are actually delivered under the Award. 

7. Nontransferability. The Award may not be transferred except as expressly permitted under Section 6(a)(3) of the Plan. 

  
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 8. Withholding. 

 

	 	(a)	 [The Grantee expressly acknowledges that the vesting or settlement of the Restricted Share Units acquired
hereunder may give rise to “wages” subject to withholding. The Grantee expressly acknowledges and agrees that the Grantee’s rights hereunder, including the right to receive Shares following the vesting of any portion of the Award, are
subject to the Grantee promptly paying to the Company in cash (or by such other means as may be acceptable to the Administrator in its discretion) all taxes required to be withheld. No Shares will be delivered pursuant to the Award unless and until
the Grantee (or the Grantee’s Beneficiary or permitted transferee of the Award) has remitted to the Company an amount in cash sufficient to satisfy any federal, state, or local withholding tax requirements, or has made other arrangements
satisfactory to the Company with respect to such taxes. The Grantee authorizes the Company and its subsidiaries to take the following actions with respect to withholding tax requirements: (i) withhold such amount from any amounts otherwise owed to
the Grantee, (ii) cause the Grantee to tender a cash payment; (iii) permit or require the Grantee to enter into a “same day sale” commitment, if applicable, with a broker-dealer that is a member of the Financial Industry
Regulatory Authority (a “FINRA Dealer”) whereby the Grantee irrevocably elects to sell a portion of the Shares to be delivered in connection with the Restricted Share Units to satisfy the withholding taxes and whereby the FINRA Dealer
irrevocably commits to forward the proceeds necessary to satisfy the withholding taxes directly to the Company and/or its affiliates; or (iv) withhold Shares from the Shares issued or otherwise issuable to the Grantee in connection with the
Award with a Fair Market Value (measured as of the date Shares are issued to pursuant to Section 4) equal to the amount of such withholding taxes; provided, however, that the number of such Shares so withheld will be at least the minimum amount
necessary to satisfy the Company’s required tax withholding but in no event more than the maximum permitted withholding under applicable law; and provided, further, that to the extent necessary to qualify for an exemption from application of
Section 16(b) of the Securities Exchange Act of 1934, if applicable, such share withholding procedure will be subject to the express prior approval of the Company’s Compensation Committee. Notwithstanding the foregoing, nothing in the
preceding sentence may be construed as relieving the Grantee of any liability for satisfying his or her obligation under the preceding provisions of this Section.]1 [The Grantee expressly
acknowledges and agrees that he or she shall be responsible for satisfying and paying all taxes arising from or due in connection with the grant or vesting of the Restricted Share Units and/or the delivery of any Shares hereunder. The Company shall
have no liability or obligation relating to the foregoing.]2 

  

	 	(b)	 The Grantee expressly acknowledges that because this Award consists of an unfunded and unsecured promise by the
Company to deliver Shares in the future, subject to the terms hereof, it is not possible to make a so-called “83(b) election” under U.S. federal tax laws with respect to the Award.

 9. Effect on Employment. Neither the grant of the Award, nor the issuance of Shares upon the vesting of the
Award, will give the Grantee any right to be retained in the employ or service of the Company or any of its subsidiaries, affect the right of the Company or any of its subsidiaries to discharge the Grantee at any time, subject to the terms and
conditions of an effective employment or other individual agreement, if any, between the Grantee and the Company or any of its subsidiaries, or affect any right of the Grantee to terminate his or her Employment at any time, subject to the terms and
conditions of an effective employment or other individual agreement, if any, between the Grantee and the Company or any of its subsidiaries. 

 

	1 	 To be used if the Grantee is an employee. 

	2 	 To be used if the Grantee is a non-employee director or other
independent contractor. 

  
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 10. Provisions of the Plan. This Agreement is subject in its entirety to the
provisions of the Plan, which are incorporated herein by reference. A copy of the Plan as in effect on the Date of Grant has been furnished or made available to the Grantee. By accepting, or being deemed to have accepted, all or any portion of the
Award, the Grantee agrees to be bound by the terms of the Plan and this Agreement. In the event of any conflict between the terms of this Agreement and the Plan, the terms of the Plan will control. 

11. Acknowledgements. The Grantee acknowledges and agrees that (i) this Agreement may be executed in two or more counterparts,
each of which will be an original and all of which together will constitute one and the same instrument, (ii) this Agreement may be executed and exchanged using facsimile, portable document format (PDF) or electronic signature, which, in each
case, will constitute an original signature for all purposes hereunder, and (iii) such signature by the Company will be binding against the Company and will create a legally binding agreement when this Agreement is countersigned by the Grantee.

 [Signature page follows.] 

  
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 The Company, by its duly authorized officer, and the Grantee have executed this Agreement as
of the date first set forth above. 
  

			
	ZAI LAB LIMITED
		
	By:	 	          

		
	Name:	 	          

		
	Title:	 	          

  

			
	Agreed and Accepted:
		
	By:	 	          

		 	[Name of Grantee]
	
	Dated: [____________]

 Signature Page to Restricted Share Unit Award Agreement

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