Document:

Exhibit 10.01

 

LeapFrog
Enterprises, Inc.

 

2002
Non-Employee Directors' Stock Award Plan

 

Adopted: July 2, 2002

Approved By Stockholders: July 19, 2002

Amended and Restated: April 20, 2004

Amendment and Restatement Approved by
Stockholders: June 10, 2004

Amended and Restated: March 27, 2006

Amendment and Restatement Approved by
Stockholders: June 16, 2006

Amended and Restated: April 29, 2009

Amended and Restated: June 29, 2011

Amended April 30, 2013

 Termination Date: None

 

1.            Purposes.

 

(a)          Eligible
Recipients. The persons eligible to receive Stock Awards are the Non-Employee Directors of the Company.

 

(b)          Available
Stock Awards. The purpose of the Plan is to provide a means by which Non-Employee Directors may be given an opportunity to
benefit from increases in value of the Class A Common Stock through the granting of (i) Nonstatutory Stock Options, (ii) Restricted
Stock Awards, (iii) Restricted Stock Unit Awards, (iv) Stock Appreciation Rights, and (v) Performance Stock Awards.

 

(c)          General
Purpose. The Company, by means of the Plan, seeks to retain the services of its Non-Employee Directors, to secure and retain
the services of new Non-Employee Directors and to provide incentives for such persons to exert maximum efforts for the success
of the Company and its Controlled Corporations.

 

2.            Definitions.

 

(a)          “Accountant”
means the independent public accountants of the Company.

 

(b)          “Affiliate”
means any parent corporation or subsidiary corporation of the Company, whether now or hereafter existing, as those terms are defined
in Sections 424(e) and (f), respectively, of the Code.

 

(c)          “Annual
Grant” means a Stock Award granted annually to a Non-Employee Director who meets the specified criteria pursuant
to Section 6(b) of the Plan.

 

(d)          “Annual
Meeting” means the annual meeting of the stockholders of the Company.

 

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

 

    	1.

    	 

    

  

(f)          “Change
in Control” means the occurrence, in a single transaction or in a series of related transactions, of any one or more
of the following events after the IPO Date:

 

(i)          any
Exchange Act Person becomes the Owner, directly or indirectly, of securities of the Company representing more than fifty percent
(50%) of the combined voting power of the Company’s then outstanding securities other than by virtue of a merger, consolidation
or similar transaction;

 

(ii)         there
is consummated a merger, consolidation or similar transaction involving (directly or indirectly) the Company and, immediately after
the consummation of such merger, consolidation or similar transaction, the stockholders of the Company immediately prior thereto
do not Own, directly or indirectly, outstanding voting securities representing more than fifty percent (50%) of the combined outstanding
voting power of the surviving Entity in such merger, consolidation or similar transaction or more than fifty percent (50%) of
the combined outstanding voting power of the parent of the surviving Entity in such merger, consolidation or similar transaction;

 

(iii)        there
is consummated a sale, lease, license or other disposition of all or substantially all of the consolidated assets of the Company
and its Subsidiaries, other than a sale, lease, license or other disposition of all or substantially all of the consolidated assets
of the Company and its Subsidiaries to an Entity, more than fifty percent (50%) of the combined voting power of the voting securities
of which are Owned by stockholders of the Company in substantially the same proportions as their Ownership of the Company immediately
prior to such sale, lease, license or other disposition; or

 

Notwithstanding the foregoing
or any other provision of this Plan, the definition of Change in Control (or any analogous term) in an individual written agreement
between the Company or any Controlled Corporation and the Participant shall supersede the foregoing definition with respect to
Stock Awards subject to such agreement (it being understood, however, that if no definition of Change in Control or any analogous
term is set forth in such an individual written agreement, the foregoing definition shall apply).

 

(g)          “Class
A Common Stock” means the Class A common stock of the Company.

 

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

 

(i)          “Company”
means LeapFrog Enterprises, Inc., a Delaware corporation.

 

(j)          “Consultant”
means any person, including an advisor, (i) engaged by the Company or a Controlled Corporation to render consulting or advisory
services and who is compensated for such services or (ii) who is a member of the Board of Directors of a Controlled Corporation.
However, the term “Consultant” shall not include either Directors of the Company who are not compensated by the Company
for their services as Directors or Directors of the Company who are merely paid a director’s fee by the Company for their
services as Directors.

 

    	2.

    	 

    

  

(k)          “Continuous
Service” means that the Participant’s service with the Company or a Controlled Corporation, whether as an Employee,
Director or Consultant, is not interrupted or terminated. A change in the capacity in which the Participant renders service to
the Company or a Controlled Corporation as an Employee, Consultant or Director or a change in the entity for which the Participant
renders such service, provided that there is no interruption or termination of the Participant’s service with the Company
or Controlled Corporation, shall not terminate a Participant’s Continuous Service. For example, a change in status from an
Employee of the Company to a Consultant of a Controlled Corporation or a Director shall not constitute an interruption of Continuous
Service. Notwithstanding the foregoing or anything in the Plan to the contrary, unless (i) otherwise provided in a Stock Award
Agreement or (ii) following the date of grant of a Stock Award, determined otherwise by the Board with respect to any Participant
who is then an officer of the Company within the meaning of Section 16 of the Exchange Act or by the chief executive officer
of the Company with respect to any other Participant, in the event that a Participant terminates his or her subsequent service
with the Company or a Controlled Corporation as an Employee, the Participant shall cease vesting in any of his or her Stock Awards
as of such date of termination, regardless of whether the Participant continues his or her service in the capacity of a Director
or Consultant without interruption or termination. The Board or the chief executive officer of the Company, in that party’s
sole discretion, may determine whether Continuous Service shall be considered interrupted in the case of any leave of absence approved
by that party, including sick leave, military leave or any other personal leave. Notwithstanding the foregoing, a leave of absence
shall be treated as Continuous Service for purposes of vesting in a Stock Award only to such extent as may be provided in the Company’s
leave of absence policy or in the written terms of the Participant’s leave of absence.

 

(l)          “Controlled
Corporation” means any subsidiary corporation of the Company, whether now or hereafter existing, as such term is
defined in Section 424(f) of the Code.

 

(m)          “Director”
means a member of the Board of Directors of the Company.

 

(n)          “Disability”
means the inability of a person, in the opinion of a qualified physician acceptable to the Company, to perform the major duties
of that person’s position with the Company or a Controlled Corporation of the Company because of the sickness or injury of
the person.

 

(o)          “Employee”
means any person employed by the Company or a Controlled Corporation. Mere service as a Director or payment of a director’s
fee by the Company or a Controlled Corporation shall not be sufficient to constitute “employment” by the Company or
a Controlled Corporation.

 

(p)          “Entity”
means a corporation, partnership or other entity.

 

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

 

(r)          “Exchange
Act Person” means any natural person, Entity or “group” (within the meaning of Section 13(d) or 14(d)
of the Exchange Act), except that “Exchange Act Person” shall not include (A) the Company or any Subsidiary of the
Company, (B) any employee benefit plan of the Company or any Subsidiary of the Company or any trustee or other fiduciary holding
securities under an employee benefit plan of the Company or any Subsidiary of the Company, (C) an underwriter temporarily holding
securities pursuant to an offering of such securities, or (D) an Entity Owned, directly or indirectly, by the stockholders of the
Company in substantially the same proportions as their Ownership of stock of the Company.

 

    	3.

    	 

    

  

(s)          “Fair
Market Value” means, as of any date, the value of the Class A Common Stock determined as follows:

 

(i)          If
the Class A Common Stock is listed on any established stock exchange or traded on the Nasdaq National Market or the Nasdaq SmallCap
Market, the Fair Market Value of a share of Class A Common Stock shall be the closing sales price for such stock (or the closing
bid, if no sales were reported) as quoted on such exchange or market (or the exchange or market with the greatest volume of trading
in the Class A Common Stock) on the last market trading day prior to the day of determination, as reported in The Wall Street Journal
or such other source as the Board deems reliable.

 

(ii)         In
the absence of such markets for the Class A Common Stock, the Fair Market Value shall be determined by the Board based upon an
independent appraisal in compliance with Section 409A of the Code or, in the case of an Incentive Stock Option, in compliance with
Section 422 of the Code.

 

(t)          “Initial
Grant” means a Stock Award granted to a Non-Employee Director who meets the specified criteria pursuant to Section
6(a) of the Plan.

 

(u)          “IPO
Date” means the date the Company’s Class A Common Stock is first offered to the public under a registration
statement declared effective under the Securities Act.

 

(v)         “Non-Employee
Director” means a Director who is not an Employee of the Company or a Controlled Corporation.

 

(w)          “Nonstatutory
Stock Option” means an Option not intended to qualify as an incentive stock option within the meaning of Section
422 of the Code and the regulations promulgated thereunder.

 

(x)          “Officer”
means a person who is an officer of the Company within the meaning of Section 16 of the Exchange Act and the rules and regulations
promulgated thereunder.

 

(y)          “Option”
means a Nonstatutory Stock Option granted pursuant to the Plan.

 

(z)          “Option
Agreement” means a written agreement between the Company and an Optionholder evidencing the terms and conditions
of an individual Option grant. Each Option Agreement shall be subject to the terms and conditions of the Plan.

 

(aa)         “Optionholder”
means a person to whom an Option is granted pursuant to the Plan or, if applicable, such other person who holds an outstanding
Option.

 

(bb)         “Own,”
“Owned,” “Owner,” “Ownership” A person or Entity shall be deemed to “Own,”
to have “Owned,” to be the “Owner” of, or to have acquired “Ownership” of securities if such
person or Entity, directly or indirectly, through any contract, arrangement, understanding, relationship or otherwise, has or shares
voting power, which includes the power to vote or to direct the voting, with respect to such securities.

 

    	4.

    	 

    

  

(cc)         “Performance
Stock Award” means a Stock Award granted under the terms and conditions of Section 8(d).

 

(dd)         “Plan”
means this LeapFrog Enterprises, Inc. 2002 Non-Employee Directors' Stock Award Plan.

 

(ee)         “Restricted
Stock Award” means an award of shares of Class A Common Stock which is granted pursuant to the terms and conditions
of Section 8(a).

 

(ff)         “Restricted
Stock Award Agreement” means a written agreement between the Company and a holder of a Restricted Stock Award evidencing
the terms and conditions of a Restricted Stock Award grant. Each Restricted Stock Award Agreement shall be subject to the terms
and conditions of the Plan.

 

(gg)         “Restricted
Stock Unit Award” means a right to receive shares of Class A Common Stock which is granted pursuant to the terms
and conditions of Section 8(b).

 

(hh)         “Restricted
Stock Unit Award Agreement” means a written agreement between the Company and a holder of a Restricted Stock Unit
Award evidencing the terms and conditions of a Restricted Stock Unit Award grant. Each Restricted Stock Unit Award Agreement shall
be subject to the terms and conditions of the Plan.

 

(ii)         “Rule
16b-3” means Rule 16b-3 promulgated under the Exchange Act or any successor to Rule 16b-3, as in effect from time
to time.

 

(jj)         “Securities
Act” means the Securities Act of 1933, as amended.

 

(kk)         “Stock
Appreciation Right” means a right to receive the appreciation on Class A Common Stock that is granted pursuant to
the terms and conditions of Section 8(c).

 

(ll)         “Stock
Appreciation Right Agreement” means a written agreement between the Company and a holder of a Stock Appreciation
Right evidencing the terms and conditions of a Stock Appreciation Right grant. Each Stock Appreciation Right Agreement shall be
subject to the terms and conditions of the Plan.

 

(mm)         “Stock
Award” means any right to receive Class A Common Stock granted under the Plan, including a Nonstatutory Stock Option,
a Restricted Stock Award, a Restricted Stock Unit Award, a Stock Appreciation Right or a Performance Stock Award.

 

(nn)         “Stock
Award Agreement” means a written agreement between the Company and a Participant evidencing the terms and conditions
of a Stock Award grant. Each Stock Award Agreement shall be subject to the terms and conditions of the Plan.

 

    	5.

    	 

    

 

(oo)         “Subsidiary”
means, with respect to the Company, (i) any corporation of which more than fifty percent (50%) of the outstanding capital stock
having ordinary voting power to elect a majority of the board of directors of such corporation (irrespective of whether, at the
time, stock of any other class or classes of such corporation shall have or might have voting power by reason of the happening
of any contingency) is at the time, directly or indirectly, Owned by the Company, and (ii) any partnership in which the Company
has a direct or indirect interest (whether in the form of voting or participation in profits or capital contribution) of more than
fifty percent (50%).

 

3.            Administration.

 

(a)          Administration
by Board. The Board shall administer the Plan. The Board may not delegate administration of the Plan to a committee; provided,
however, that the Board may delegate to a committee the authority to determine the type of Stock Awards and the number of shares
subject to such Stock Awards with respect to Initial and Annual Grants.

 

(b)          Powers
of Board. The Board shall have the power, subject to, and within the limitations of, the express provisions of the Plan:

 

(i)          To
determine the recipients and provisions of Stock Awards to the extent not specified in the Plan.

 

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

 

(iii)        To
amend the Plan or a Stock Award as provided in Section 13.

 

(iv)        Generally,
to exercise such powers and to perform such acts as the Board deems necessary or expedient to promote the best interests of the
Company that are not in conflict with the provisions of the Plan.

 

(c)          Effect
of Board’s Decision. All determinations, interpretations and constructions made by the Board in good faith shall not
be subject to review by any person and shall be final, binding and conclusive on all persons.

 

4.            Shares
Subject to the Plan.

 

(a)          Share
Reserve. Subject to the provisions of Section 12 relating to adjustments upon changes in the Class A Common Stock, the Class
A Common Stock that may be issued pursuant to Stock Awards shall not exceed in the aggregate One Million Two Hundred Fifty Thousand
(1,250,000) shares of Class A Common Stock. Effective as of June 16, 2006, subject to Section 4(b), the number of shares available
for issuance under the Plan shall be reduced by: (i) one (1) share for each share of Class A Common Stock issued pursuant to an
Option granted under Section 7 or a Stock Appreciation Right granted under Section 8(c); and (ii) two (2) shares for each share
of Class A Common Stock issued pursuant to a Restricted Stock Award granted under Section 8(a) or a Restricted Stock Unit Award
granted under Section 8(b). Shares may be issued in connection with a merger or acquisition as permitted by NYSE Listed Company
Manual Section 303A.08 or, if applicable, NASD Rule 4350(i)(1)(A)(iii) or AMEX Company Guide Section 711 and such issuance shall
not reduce the number of shares available for issuance under the Plan.

 

    	6.

    	 

    

  

(b)          Reversion
of Shares to the Share Reserve.

 

(i)          Shares
Available For Subsequent Issuance. If any Stock Award shall for any reason expire or otherwise terminate, in whole or in part,
without having been exercised in full, or if any shares of Class A Common Stock issued to a Participant pursuant to a Stock Award
are forfeited back to or repurchased by the Company because of or in connection with the failure to meet a contingency or condition
required to vest such shares in the Participant, the shares of Class A Common Stock not acquired, forfeited or repurchased under
such Stock Award shall revert to and again become available for issuance under the Plan.

 

(ii)         Other
Shares Available for Subsequent Issuance.  If any shares subject to a Stock Award are not delivered to a Participant because
the Stock Award is exercised through a reduction of shares subject to the Stock Award (i.e., “net exercised”)
or an appreciation distribution in respect of a Stock Appreciation Right is paid in shares of Class A Common Stock, the number
of shares subject to the Stock Award that are not delivered to the Participant shall remain available for subsequent issuance under
the Plan. If any shares subject to a Stock Award are not delivered to a Participant because such shares are withheld in satisfaction
of the withholding of taxes incurred in connection with the exercise of an Option, Stock Appreciation Right, or the issuance of
shares under a Restricted Stock Award or Restricted Stock Unit Award, the number of shares that are not delivered to the Participant
shall remain available for subsequent issuance under the Plan. If the exercise price of any Stock Award is satisfied by tendering
shares of Class A Common Stock held by the Participant (either by actual delivery or attestation), then the number of shares so
tendered shall remain available for subsequent issuance under the Plan.

 

To the extent there is
issued a share of Class A Common Stock pursuant to a Stock Award that counted as two (2) shares against the number of shares available
for issuance under the Plan pursuant to Section 4(a) and such share of Common Stock again becomes available for issuance under
the Plan pursuant to this Section 4(b), then the number of shares of Class A Common Stock available for issuance under the Plan
shall increase by two (2) shares.

 

(c)          Source
of Shares. The shares of Class A Common Stock subject to the Plan may be unissued shares or reacquired shares, bought on the
market or otherwise. If the aggregate number of shares of Class A Common Stock issuable as Initial and Annual Grants pursuant to
Sections 6(a) and 6(b) would exceed the number of shares remaining in the share reserve under Section 4(a) at such time of grant,
then, in the absence of any Board action otherwise, a pro rata allocation of the shares of Class A Common Stock available shall
be made in as nearly a uniform manner as shall be practicable and equitable.

 

    	7.

    	 

    

  

5.            Eligibility.

 

The Initial and Annual
Grants as set forth in Sections 6(a) and 6(b) automatically shall be granted under the Plan to all Non-Employee Directors. Stock
Awards may also be granted as discretionary grants as set forth in Section 6(c).

 

6.            Non-Discretionary
and Discretionary Grants.

 

(a)          Initial
Grants. Without any further action of the Board, each person who is elected or appointed for the first time to be a Non-Employee
Director automatically shall be granted an Initial Grant, in such form and amount as determined by the Board by written resolution,
from time to time. The grant date for the Initial Grant (“Initial Grant Date”) shall be the 15th day of
the month following the date of such Non-Employee Director’s initial election or appointment to be a Non-Employee Director.

 

(b)          Annual
Grants. Without any further action of the Board, each year, on the first day of the month following the annual meeting of stockholders
of the Company (“Annual Grant Date”), each person who is then a Non-Employee Director automatically shall
be granted an Annual Grant in such form and amount as determined by the Board by written resolution, from time to time; provided,
however, that the value of the grant to a particular Non-Employee Director shall be reduced, on a pro rata basis, for each
month such person did not serve as a Non-Employee Director during the twelve-month period from the prior Annual Grant Date until
the current Annual Grant Date.

 

(c)          Discretionary
Grants. In addition to non-discretionary grants pursuant to Sections 6(a) and 6(b), the Board, in its sole discretion, may
grant Stock Awards to one or more Non-Employee Directors in such numbers and subject to such other provisions as it shall determine.
The numbers and other provisions of such Stock Awards need not be identical.

 

7.            Option
Provisions.

 

Each Option shall be
in such form and shall contain such terms and conditions as required by the Plan. Each Option shall contain such additional terms
and conditions, not inconsistent with the Plan, as the Board shall deem appropriate. Each Option shall include (through incorporation
of provisions hereof by reference in the Option or otherwise) the substance of each of the following provisions:

 

(a)          Term.
No Option shall be exercisable after the expiration of ten (10) years from the date it was granted.

 

(b)          Exercise
Price. The exercise price of each Option shall be one hundred percent (100%) of the Fair Market Value of the stock subject
to the Option on the date the Option is granted. Notwithstanding the foregoing, an Option may be granted with an exercise price
lower than that set forth in the preceding sentence if such Option is granted pursuant to an assumption or substitution for another
option in a manner satisfying the provisions of Section 424(a) of the Code.

 

    	8.

    	 

    

  

(c)          Consideration.
The purchase price of Class A Common Stock acquired pursuant to an Option shall be paid, to the extent permitted by applicable
statutes and regulations and as determined by the Board in its sole discretion, by any combination of the methods of payment set
forth below. The Board shall have the authority to grant Options that do not permit all of the following methods of payment (or
otherwise restrict the ability to use certain methods) and to grant Options that require the consent of the Company to utilize
a particular method of payment. The methods of payment permitted by this Section 7(c) are:

 

(i)          by
cash, check, bank draft or money order payable to the Company;

 

(ii)         pursuant
to a program developed under Regulation T as promulgated by the Federal Reserve Board that, prior to the issuance of the stock
subject to the Option, results in either the receipt of cash (or check) by the Company or the receipt of irrevocable instructions
to pay the aggregate exercise price to the Company from the sales proceeds;

 

(iii)        by
delivery to the Company (either by actual delivery or attestation) of shares of Class A Common Stock;

 

(iv)        by
a “net exercise” arrangement pursuant to which the Company will reduce the number of shares of Class A Common Stock
issued upon exercise by the largest whole number of shares with a Fair Market Value that does not exceed the aggregate exercise
price; provided, however, that the Company shall accept a cash or other payment from the Participant to the extent of any
remaining balance of the aggregate exercise price not satisfied by such reduction in the number of whole shares to be issued; provided,
further, that shares of Class A Common Stock will no longer be outstanding under an Option and will not be exercisable thereafter
to the extent that (A) shares are used to pay the exercise price pursuant to the “net exercise,” (B) shares are delivered
to the Participant as a result of such exercise, and (C) shares are withheld to satisfy tax withholding obligations; or

 

(v)         in
any other form of legal consideration that may be acceptable to the Board.

 

Unless otherwise specifically
provided in the Option, the purchase price of Class A Common Stock acquired pursuant to an Option that is paid by delivery to the
Company of other Class A Common Stock acquired, directly or indirectly from the Company, shall be paid only by shares of the Class
A Common Stock of the Company that have been held for more than six (6) months (or such longer or shorter period of time required
to avoid a charge to earnings for financial accounting purposes). At any time that the Company is incorporated in Delaware, payment
of the Class A Common Stock’s “par value,” as defined in the Delaware General Corporation Law, shall not be made
by deferred payment.

 

(d)          Transferability.
An Option is transferable by will or by the laws of descent and distribution. An Option also may be transferable upon written consent
of the Company if, at the time of transfer, a Form S-8 registration statement under the Securities Act is available for the exercise
of the Option and the subsequent resale of the underlying securities. In addition, an Optionholder may, by delivering written notice
to the Company, in a form satisfactory to the Company, designate a third party who, in the event of the death of the Optionholder,
shall thereafter be entitled to exercise the Option.

 

    	9.

    	 

    

  

(e)          Vesting.
At the time of grant of an Option, the Board may impose such restrictions or conditions to the vesting of the Options as it, in
its sole discretion, deems appropriate.

 

(f)          Early
Exercise. The Option may, but need not, include a provision whereby the Optionholder may elect at any time before the Optionholder’s
Continuous Service terminates to exercise the Option as to any part or all of the shares of Class A Common Stock subject to the
Option prior to the full vesting of the Option. Any unvested shares of Class A Common Stock so purchased may be subject to a repurchase
option in favor of the Company or to any other restriction the Board determines to be appropriate.

 

(g)          Termination
of Continuous Service. In the event an Optionholder’s Continuous Service terminates, the Optionholder (or, in the event
of the Optionholder’s death, the Optionholder’s estate, a person who acquired the right to exercise the Option by bequest
or inheritance, or a person designated to exercise the Option upon the Optionholder’s death) may exercise his or her Option
(to the extent that the Optionholder was entitled to exercise it as of the date of termination) but only within such period of
time ending on the earlier of the expiration of the term of the Option as set forth in the Option Agreement or the date following
the termination of the Optionholder’s Continuous Service set forth in the Option Agreement. If, after termination, the Optionholder
does not exercise his or her Option within the time specified in the Option Agreement, the Option shall terminate.

 

(h)          Extension
of Termination Date. If the exercise of the Option following the termination of the Optionholder’s Continuous Service
(other than upon the Optionholder’s death or Disability) would be prohibited at any time solely because the issuance of shares
would violate the registration requirements under the Securities Act, then the Option shall terminate on the earlier of (i) the
expiration of the term of the Option set forth in Section 7(a) or (ii) the expiration of a period of three (3) months after the
termination of the Optionholder’s Continuous Service during which the exercise of the Option would not be in violation of
such registration requirements.

 

8.            Provisions
of Stock Awards other than Options.

 

(a)          Restricted
Stock Awards. Each Restricted Stock Award Agreement shall be in such form and shall contain such terms and conditions as the
Board shall deem appropriate. To the extent consistent with the Company’s Bylaws, at the
Board’s election, shares of Class A Common Stock may be (x) held in book entry form subject to the Company’s instructions
until any restrictions relating to the Restricted Stock Award lapse; or (y) evidenced by a certificate, which certificate
shall be held in such form and manner as determined by the Board. The terms and conditions of Restricted Stock Award Agreements
may change from time to time, and the terms and conditions of separate Restricted Stock Award Agreements need not be identical,
provided, however, that each Restricted Stock Award Agreement shall include (through incorporation of provisions hereof
by reference in the agreement or otherwise) the substance of each of the following provisions:

 

    	10.

    	 

    

  

(i)          Consideration.
A Restricted Stock Award may be awarded in consideration for (A) past or future services actually or to be rendered to the
Company or an Affiliate, or (B) any other form of legal consideration that may be acceptable to the Board in its sole discretion
and permissible under applicable law.

 

(ii)         Vesting.
Shares of Class A Common Stock awarded under a Restricted Stock Award Agreement may be subject to forfeiture to the Company in
accordance with a vesting schedule to be determined by the Board.

 

(iii)        Termination
of Participant’s Continuous Service. In the event a Participant’s Continuous Service terminates, the Company may
receive pursuant to a forfeiture condition, any or all of the shares of Class A Common Stock held by the Participant which have
not vested as of the date of termination of Continuous Service under the terms of the Restricted Stock Award Agreement.

 

(iv)        Transferability.
Rights to acquire shares of Class A Common Stock under a Restricted Stock Award Agreement shall be transferable by the Participant
only upon such terms and conditions as are set forth in the Restricted Stock Award Agreement, as the Board shall determine in its
sole discretion, so long as Class A Common Stock awarded under the Restricted Stock Award Agreement remains subject to the terms
of the Restricted Stock Award Agreement.

 

(b)          Restricted
Stock Unit Awards. Each Restricted Stock Unit Award Agreement shall be in such form and shall contain such terms and conditions
as the Board shall deem appropriate. The terms and conditions of Restricted Stock Unit Award Agreements may change from time to
time, and the terms and conditions of separate Restricted Stock Unit Award Agreements need not be identical, provided, however,
that each Restricted Stock Unit Award Agreement shall include (through incorporation of the provisions hereof by reference
in the Agreement or otherwise) the substance of each of the following provisions:

 

(i)          Consideration.
At the time of grant of a Restricted Stock Unit Award, the Board will determine the consideration, if any, to be paid by the Participant
upon delivery of each share of Class A Common Stock subject to the Restricted Stock Unit Award. The consideration to be paid (if
any) by the Participant for each share of Class A Common Stock subject to a Restricted Stock Unit Award may be paid in any form
of legal consideration that may be acceptable to the Board in its sole discretion and permissible under applicable law.

 

(ii)         Vesting.
At the time of the grant of a Restricted Stock Unit Award, the Board may impose such restrictions or conditions to the vesting
of the Restricted Stock Unit Award as it, in its sole discretion, deems appropriate.

 

(iii)        Payment.
A Restricted Stock Unit Award may be settled by the delivery of shares of Class A Common Stock, their cash equivalent, any combination
thereof or in any other form of consideration, as determined by the Board and contained in the Restricted Stock Unit Award Agreement.

 

    	11.

    	 

    

  

(iv)        Additional
Restrictions. At the time of the grant of a Restricted Stock Unit Award, the Board, as it deems appropriate, may impose such
restrictions or conditions that delay the delivery of the shares of Class A Common Stock (or their cash equivalent) subject to
a Restricted Stock Unit Award to a time after the vesting of such Restricted Stock Unit Award.

 

(v)         Dividend
Equivalents. Dividend equivalents may be credited in respect of shares of Class A Common Stock covered by a Restricted Stock
Unit Award, as determined by the Board and contained in the Restricted Stock Unit Award Agreement. At the sole discretion of the
Board, such dividend equivalents may be converted into additional shares of Class A Common Stock covered by the Restricted Stock
Unit Award in such manner as determined by the Board. Any additional shares covered by the Restricted Stock Unit Award credited
by reason of such dividend equivalents will be subject to all the terms and conditions of the underlying Restricted Stock Unit
Award Agreement to which they relate.

 

(vi)        Termination
of Participant’s Continuous Service. Except as otherwise provided in the applicable Restricted Stock Unit Award Agreement,
such portion of the Restricted Stock Unit Award that has not vested will be forfeited upon the Participant’s termination
of Continuous Service.

 

(vii)       Compliance
with Section 409A of the Code. Notwithstanding anything to the contrary set forth herein, any Restricted Stock Unit Award granted
under the Plan that is not exempt from the requirements of Section 409A of the Code shall contain such provisions so that such
Restricted Stock Unit Award will comply with the requirements of Section 409A of the Code. Such restrictions, if any, shall be
determined by the Board and contained in the Restricted Stock Unit Award Agreement evidencing such Restricted Stock Unit Award.
For example, such restrictions may include, without limitation, a requirement that any Class A Common Stock that is to be issued
in a year following the year in which the Restricted Stock Unit Award vests must be issued in accordance with a fixed pre-determined
schedule.

 

(c)          Stock
Appreciation Rights. Each Stock Appreciation Right Agreement shall be in such form and shall contain such terms and conditions
as the Board shall deem appropriate. Stock Appreciation Rights may be granted as stand-alone Stock Awards or in tandem with other
Stock Awards. The terms and conditions of Stock Appreciation Right Agreements may change from time to time, and the terms and conditions
of separate Stock Appreciation Right Agreements need not be identical; provided, however, that each Stock Appreciation Right
Agreement shall include (through incorporation of the provisions hereof by reference in the Agreement or otherwise) the substance
of each of the following provisions:

 

(i)          Term.
No Stock Appreciation Right shall be exercisable after the expiration of ten (10) years from the date of its grant or such shorter
period specified in the Stock Appreciation Right Agreement.

 

(ii)         Strike
Price. Each Stock Appreciation Right will be denominated in shares of Class A Common Stock equivalents. The strike price of
each Stock Appreciation Right shall not be less than one hundred percent (100%) of the Fair Market Value of the Class A Common
Stock equivalents subject to the Stock Appreciation Right on the date of grant.

 

    	12.

    	 

    

  

(iii)        Calculation
of Appreciation. The appreciation distribution payable on the exercise of a Stock Appreciation Right will be not greater than
an amount equal to the excess of (A) the aggregate Fair Market Value (on the date of the exercise of the Stock Appreciation Right)
of a number of shares of Class A Common Stock equal to the number of shares of Class A Common Stock equivalents in which the Participant
is vested under such Stock Appreciation Right, and with respect to which the Participant is exercising the Stock Appreciation Right
on such date, over (B) the strike price that will be determined by the Board at the time of grant of the Stock Appreciation Right.

 

(iv)        Vesting.
At the time of the grant of a Stock Appreciation Right, the Board may impose such restrictions or conditions to the vesting
of such Stock Appreciation Right as it, in its sole discretion, deems appropriate.

 

(v)         Exercise.
To exercise any outstanding Stock Appreciation Right, the Participant must provide written notice of exercise to the Company in
compliance with the provisions of the Stock Appreciation Right Agreement evidencing such Stock Appreciation Right.

 

(vi)        Payment.
The appreciation distribution in respect of a Stock Appreciation Right may be paid in Class A Common Stock, in cash, in any combination
of the two or in any other form of consideration, as determined by the Board and contained in the Stock Appreciation Right Agreement
evidencing such Stock Appreciation Right.

 

(vii)       Termination
of Continuous Service. In the event that a Participant’s Continuous Service terminates, the Participant may exercise
his or her Stock Appreciation Right (to the extent that the Participant was entitled to exercise such Stock Appreciation Right
as of the date of termination) but only within such period of time ending on the earlier of (A) the date three (3) months following
the termination of the Participant’s Continuous Service (or such longer or shorter period specified in the Stock Appreciation
Right Agreement), or (B) the expiration of the term of the Stock Appreciation Right as set forth in the Stock Appreciation Right
Agreement. If, after termination, the Participant does not exercise his or her Stock Appreciation Right within the time specified
herein or in the Stock Appreciation Right Agreement (as applicable), the Stock Appreciation Right shall terminate.

 

(viii)      Compliance
with Section 409A of the Code. Notwithstanding anything to the contrary set forth herein, any Stock Appreciation Rights granted
under the Plan that are not exempt from the requirements of Section 409A of the Code shall contain such provisions so that such
Stock Appreciation Rights will comply with the requirements of Section 409A of the Code. Such restrictions, if any, shall be determined
by the Board and contained in the Stock Appreciation Right Agreement evidencing such Stock Appreciation Right. For example,
such restrictions may include, without limitation, a requirement that a Stock Appreciation Right that is to be paid wholly or partly
in cash must be exercised and paid in accordance with a fixed pre-determined schedule.

 

    	13.

    	 

    

  

(d)          Performance
Stock Awards. A Performance Stock Award is a Stock Award that may be granted, may vest, or may be exercised based upon the
attainment during one or more periods of time of certain performance goals. Such performance goals may be determined by the Board
in its sole discretion or may be based on the Performance Goals selected by the Committee under the Company’s 2002 Equity
Incentive Plan (as such terms are defined in the Company’s 2002 Equity Incentive Plan). A Performance Stock Award may, but
need not, require the completion of a specified period of Continuous Service. The length of any performance period, the performance
goals to be achieved during such performance period, and the measure of whether and to what degree such performance goals have
been attained shall be conclusively determined by the Board in its sole discretion. In addition, to the extent permitted by applicable
law and the applicable Award Agreement, the Board may determine that cash may be used in payment of Performance Stock Awards.

 

9.            Covenants
of the Company.

 

(a)          Availability
of Shares. During the terms of the Stock Awards, the Company shall keep available at all times the number of shares of Class
A Common Stock required to satisfy such Stock Awards.

 

(b)          Securities
Law Compliance. The Company shall seek to obtain from each regulatory commission or agency having jurisdiction over the Plan
such authority as may be required to grant Stock Awards and to issue and sell shares of Class A Common Stock upon exercise of the
Stock Awards; provided, however, that this undertaking shall not require the Company to register under the Securities Act
the Plan, any Stock Award or any stock issued or issuable pursuant to any such Stock Award. If, after reasonable efforts, the Company
is unable to obtain from any such regulatory commission or agency the authority which counsel for the Company deems necessary for
the lawful issuance and sale of stock under the Plan, the Company shall be relieved from any liability for failure to issue and
sell stock upon exercise of such Stock Awards unless and until such authority is obtained.

 

10.          Use
of Proceeds from Stock.

 

Proceeds from the sale
of stock pursuant to Stock Awards shall constitute general funds of the Company.

 

11.          Miscellaneous.

 

(a)          Stockholder
Rights. No Participant shall be deemed to be the holder of, or to have any of the rights of a holder with respect to, any shares
subject to a Stock Award unless and until such Participant has satisfied all requirements for exercise of the Stock Award pursuant
to its terms.

 

(b)          No
Service Rights. Nothing in the Plan or any instrument executed or Stock Award granted pursuant thereto shall confer upon any
Participant any right to continue to serve the Company as a Non-Employee Director or shall affect the right of the Company or an
Affiliate to terminate (i) the employment of an Employee with or without notice and with or without cause, (ii) the service of
a Consultant pursuant to the terms of such Consultant’s agreement with the Company or an Affiliate or (iii) the service of
a Director pursuant to the Bylaws of the Company or an Affiliate, and any applicable provisions of the corporate law of the state
in which the Company or the Affiliate is incorporated, as the case may be.

 

    	14.

    	 

    

  

(c)          Investment
Assurances. The Company may require a Participant, as a condition of exercising or acquiring stock under any Stock Award, (i)
to give written assurances satisfactory to the Company as to the Participant’s knowledge and experience in financial and
business matters and/or to employ a purchaser representative reasonably satisfactory to the Company who is knowledgeable and experienced
in financial and business matters and that he or she is capable of evaluating, alone or together with the purchaser representative,
the merits and risks of exercising the Stock Award; and (ii) to give written assurances satisfactory to the Company stating that
the Participant is acquiring the stock subject to the Stock Award for the Participant’s own account and not with any present
intention of selling or otherwise distributing the stock. The foregoing requirements, and any assurances given pursuant to such
requirements, shall be inoperative if (1) the issuance of the shares upon the exercise or acquisition of stock under the Stock
Award has been registered under a then currently effective registration statement under the Securities Act or (2) as to any particular
requirement, a determination is made by counsel for the Company that such requirement need not be met in the circumstances under
the then applicable securities laws. The Company may, upon advice of counsel to the Company, place legends on stock certificates
issued under the Plan as such counsel deems necessary or appropriate in order to comply with applicable securities laws, including,
but not limited to, legends restricting the transfer of the stock.

 

(d)          Withholding
Obligations. The Participant may satisfy any federal, state or local tax withholding obligation relating to the exercise or
acquisition of stock under a Stock Award by any of the following means (in addition to the Company’s right to withhold from
any compensation paid to the Participant by the Company) or by a combination of such means: (i) tendering a cash payment; (ii)
authorizing the Company to withhold shares from the shares of the Class A Common Stock otherwise issuable to the Participant as
a result of the exercise or acquisition of stock under the Stock Award, provided, however, that no shares of Class A Common
Stock are withheld with a value exceeding the minimum amount of tax required to be withheld by law; or (iii) delivering to the
Company owned and unencumbered shares of the Class A Common Stock.

 

(e)          Lock-Up
Period. Upon exercise of any Stock Award, a Participant may not sell, dispose of, transfer, make any short sale of, grant any
option for the purchase of, or enter into any hedging or similar transaction with the same economic effect as a sale, any shares
of Class A Common Stock or other securities of the Company held by the Participant, for a period of time specified by the managing
underwriter(s) (not to exceed one hundred eighty (180) days) following the effective date of a registration statement of the Company
filed under the Securities Act, other than a Form S-8 registration statement, (the “Lock
Up Period”); provided, however, that nothing contained in this section shall prevent the exercise of a repurchase
option, if any, in favor of the Company during the Lock Up Period. A Participant may be required to execute and deliver such other
agreements as may be reasonably requested by the Company and/or the underwriter(s) that are consistent with the foregoing or that
are necessary to give further effect thereto. In order to enforce the foregoing, the Company may impose stop-transfer instructions
with respect to such shares of Class A Common Stock until the end of such period. The underwriters of the Company’s stock
are intended third party beneficiaries of this Section 11(e) and shall have the right, power and authority to enforce the provisions
hereof as though they were a party hereto.

 

    	15.

    	 

    

  

12.          Adjustments
upon Changes in Class A Common Stock.

 

(a)          Capitalization
Adjustments. If any change is made in the stock subject to the Plan, or subject to any Stock Award, without the receipt of
consideration by the Company (through merger, consolidation, reorganization, recapitalization, reincorporation, stock dividend,
dividend in property other than cash, stock split, liquidating dividend, combination of shares, exchange of shares, change in corporate
structure or other transaction not involving the receipt of consideration by the Company), the Plan will be appropriately adjusted
in the nature, class(es) and maximum number of securities subject both to the Plan pursuant to Section 4 and to the nondiscretionary
Stock Awards specified in Section 6, and the outstanding Stock Awards will be appropriately adjusted in the nature, class(es) and
number of securities and price per share of stock subject to such outstanding Stock Awards. The Board shall make such adjustments,
and its determination shall be final, binding and conclusive. (The conversion of any convertible securities of the Company shall
not be treated as a transaction “without receipt of consideration” by the Company.)

 

(b)          Dissolution
or Liquidation. In the event of a dissolution or liquidation of the Company, then all outstanding Stock Awards shall terminate
immediately prior to such event.

 

(c)          Change
in Control. If a Change in Control occurs and as of, or within twelve (12) months after, the effective time of such Change
in Control, a Participant’s Continuous Service terminates, then his or her Stock Awards will accelerate and become fully
vested and immediately exercisable (to the extent applicable), unless the termination was a result of the Participant’s resignation
(other than any resignation contemplated by the terms of the Change in Control or required by the Company or the acquiring entity
pursuant to the Change in Control).

 

(d)          Parachute
Payments. In the event that the acceleration of the vesting and exercisability of the Stock Awards provided for in Section
12(c) and benefits otherwise payable to a Participant (“Payment”) would (i) constitute a “parachute payment”
within the meaning of Section 280G of the Code, and (ii) but for this sentence, be subject to the excise tax imposed by Section
4999 of the Code (the “Excise Tax”), then such Payment shall be equal to the Reduced Amount. The “Reduced Amount”
shall be either (x) the largest portion of the Payment that would result in no portion of the Payment being subject to the Excise
Tax or (y) the largest portion, up to and including the total, of the Payment, whichever amount, after taking into account all
applicable federal, state and local employment taxes, income taxes, and the Excise Tax (all computed at the highest applicable
marginal rate), results in the Participant’s receipt, on an after-tax basis, of the greater amount of the Payment notwithstanding
that all or some portion of the Payment may be subject to the Excise Tax. If a reduction in payments or benefits constituting “parachute
payments” is necessary so that the Payment equals the Reduced Amount, reduction shall occur in the following order unless
the Participant elects in writing a different order (provided, however, that such election shall be subject to Company approval
if made on or after the effective date of the event that triggers the Payment): reduction of cash payments; cancellation of accelerated
vesting of Stock Awards; reduction of employee benefits. In the event that acceleration of vesting of Stock Award compensation
is to be reduced, such acceleration of vesting shall be cancelled in the reverse order of the date of grant of the Participant’s
Stock Awards (i.e., earliest granted Stock Award cancelled last) unless the Participant elects in writing a different order
for cancellation.

 

    	16.

    	 

    

  

The accounting firm engaged
by the Company for general audit purposes as of the day prior to the effective date of the Change in Control shall perform the
foregoing calculations. If the accounting firm so engaged by the Company is serving as accountant or auditor for the individual,
entity or group effecting the Change in Control, the Company shall appoint a nationally recognized accounting firm to make the
determinations required hereunder. The Company shall bear all expenses with respect to the determinations by such accounting firm
required to be made hereunder.

 

The
accounting firm engaged to make the determinations hereunder shall provide its calculations, together with detailed supporting
documentation, to the Participant and the Company within fifteen (15) calendar days after the
date on which the Participant’s right to a Payment is triggered (if requested at that time
by the Participant or the Company) or such other time as requested by the Participant
or the Company. If the accounting firm determines that no Excise Tax is payable with respect to a Payment, either before or after
the application of the Reduced Amount, it shall furnish the Participant and the Company with
an opinion reasonably acceptable to the Participant that no Excise Tax will be imposed with respect
to such Payment. Any good faith determinations of the accounting firm made hereunder shall be final, binding and conclusive upon
the Participant and the Company.

 

13.          Amendment
of the Plan and Stock Awards.

 

(a)          Amendment
of Plan. The Board at any time, and from time to time, may amend the Plan. However, except as provided in Section 12 relating
to adjustments upon changes in Class A Common Stock, no amendment shall be effective unless approved by the stockholders of the
Company to the extent stockholder approval is necessary to satisfy the requirements of Rule 16b-3 or any Nasdaq or securities exchange
listing requirements.

 

(b)          Stockholder
Approval. The Board may, in its sole discretion, submit any other amendment to the Plan for stockholder approval.

 

(c)          No
Impairment of Rights. Rights under any Stock Award granted before amendment of the Plan shall not be impaired by any amendment
of the Plan unless (i) the Company requests the consent of the Participant and (ii) the Participant consents in writing.

 

(d)          Amendment
of Stock Awards. The Board at any time, and from time to time, may amend the terms of any one or more Stock Awards; provided,
however, that the rights under any Stock Award shall not be impaired by any such amendment unless (i) the Company requests
the consent of the Participant and (ii) the Participant consents in writing.

 

14.          Termination
or Suspension of the Plan.

 

(a)          Plan
Term. The Board may suspend or terminate the Plan at any time. No Stock Awards may be granted under the Plan while the Plan
is suspended or after it is terminated.

 

(b)          No
Impairment of Rights. Suspension or termination of the Plan shall not impair rights and obligations under any Stock Award granted
while the Plan is in effect except with the written consent of the Participant.

 

    	17.

    	 

    

  

15.          Choice
of Law.

 

All questions concerning
the construction, validity and interpretation of this Plan shall be governed by the law of the State of Delaware, without regard
to such state’s conflict of laws rules.

 

    	18.Exhibit
10.02

 

LeapFrog
Enterprises, Inc.

Non-Employee Director

Stock Option Grant Notice

(2011 Equity and Incentive Plan)

 

LeapFrog Enterprises,
Inc. (the “Company”), pursuant to its 2011 Equity and Incentive Plan (the “Plan”),
hereby grants to Optionholder an option to purchase the number of shares of the Company’s Common Stock set forth below. This
option is subject to all of the terms and conditions as set forth herein and in the Option Agreement, the Plan, and the Notice
of Exercise, all of which are attached hereto and incorporated herein in their entirety.

 

	Optionholder:	 
	Date of Grant:	 
	Grant Number:	 
	Vesting Commencement Date:	 
	Number of Shares Subject to Option:	 
	Exercise Price (Per Share):	$ 	 
	Total Exercise Price:	$	 
	Expiration Date:	 

  

		Type of Grant:	Nonstatutory Stock Option

 

		Exercise Schedule:	Same as Vesting Schedule

 

Vesting
Schedule:

 

		Payment:	By one or a combination of the following items (described
in the Option Agreement):

 

x
By cash or check

xBy
bank draft or money order payable to the Company

xPursuant
to a Regulation T Program if the Shares are publicly traded

xBy
delivery of already-owned shares if the Shares are publicly traded

xBy
a “net exercise” arrangement if and only to the extent this option is a Nonstatutory Stock Option, and subject
to the Company’s consent at the time of exercise,

 

Additional Terms/Acknowledgements:
The undersigned Optionholder acknowledges receipt of, and understands and agrees to, this Stock Option Grant Notice, the Option
Agreement and the Plan. Optionholder further acknowledges that as of the Date of Grant, this Stock Option Grant Notice, the Option
Agreement, and the Plan set forth the entire understanding between Optionholder and the Company regarding the acquisition of stock
in the Company and supersede all prior oral and written agreements on that subject with the exception of (i) equity awards previously
granted and delivered to Optionholder by the Company under the Plan or any other equity incentive plan sponsored by the Company
and (ii) the following agreements only:

 

	Other Agreements:	None

 

	 	Optionholder:

	 	 
	 	 
	 	 	 
	 	Date:	 

 

Attachments: Option
Agreement, 2011 Equity and Incentive Plan and Notice of Exercise

 

    	 

    	 

    

   

Attachment
I

 

LeapFrog
Enterprises, Inc.

2011 Equity and Incentive Plan

Non-Employee
Director Stock Option Agreement

(Incentive Stock Option or Nonstatutory Stock Option)

 

Pursuant to your Stock
Option Grant Notice (“Grant Notice”) and this Option Agreement (“Option Agreement”),
LeapFrog Enterprises, Inc. (the “Company”) has granted you an option under its 2011 Equity and Incentive
Plan (the “Plan”) to purchase the number of shares of the Company’s Common Stock indicated in your
Grant Notice at the exercise price indicated in your Grant Notice. Defined terms not explicitly defined in this Option Agreement
but defined in the Plan shall have the same definitions as in the Plan.

 

The details of your
option are as follows:

 

1.          Vesting.
Subject to the limitations contained herein, your option will vest as provided in your Grant Notice, provided that vesting will
cease upon the termination of your Continuous Service.

 

2.          Number
of Shares and Exercise Price. The number of shares of Common Stock subject to your option
and your exercise price per share referenced in your Grant Notice may be adjusted from time to time for Capitalization Adjustments.

 

3.          Exercise
prior to Vesting (“Early Exercise”). If permitted in your Grant Notice (i.e.,
the “Exercise Schedule” indicates “Early Exercise Permitted”) and subject to the provisions of your option,
you may elect at any time that is both (i) during the period of your Continuous Service and (ii) during the term of your option,
to exercise all or part of your option, including the unvested portion of your option; provided, however, that:

 

(a)          a
partial exercise of your option shall be deemed to cover first vested shares of Common Stock and then the earliest vesting installment
of unvested shares of Common Stock;

 

(b)          any
shares of Common Stock so purchased from installments that have not vested as of the date of exercise shall be subject to the purchase
option in favor of the Company as described in the Company’s form of Early Exercise Stock Purchase Agreement; and

 

(c)          you
shall enter into the Company’s form of Early Exercise Stock Purchase Agreement with a vesting schedule that will result in
the same vesting as if no early exercise had occurred.

 

4.          Method
of Payment. Payment of the exercise price is due in full upon exercise of all or any part
of your option. You may elect to make payment of the exercise price in cash or by check or in any other manner permitted
by your Grant Notice, which may include one or more of the following:

 

(a)          Bank
draft or money order payable to the Company.

 

(b)          Provided
that at the time of exercise the Common Stock is publicly traded, pursuant to a program developed under Regulation T as promulgated
by the Federal Reserve Board that, prior to the issuance of Common Stock, results in either the receipt of cash (or check) by the
Company or the receipt of irrevocable instructions to pay the aggregate exercise price to the Company from the sales proceeds.

 

    	 

    	 

    

  

(c)          Provided
that at the time of exercise the Common Stock is publicly traded, by delivery to the Company (either by actual delivery or attestation)
of already-owned shares of Common Stock that are owned free and clear of any liens, claims, encumbrances or security interests,
and that are valued at Fair Market Value on the date of exercise. “Delivery” for these purposes, in the sole discretion
of the Company at the time you exercise your option, shall include delivery to the Company of your attestation of ownership of
such shares of Common Stock in a form approved by the Company. Notwithstanding the foregoing, you may not exercise your option
by tender to the Company of Common Stock to the extent such tender would violate the provisions of any law, regulation or agreement
restricting the redemption of the Company’s stock.

 

(d)          Provided
the Option is a Nonstatutory Stock Option, subject to the consent of the Company at the time of exercise, by a “net
exercise” arrangement pursuant to which the Company will reduce the number of shares of Common Stock issued upon exercise
of your option by the largest whole number of shares with a Fair Market Value that does not exceed the aggregate exercise price;
provided, however, that the Company shall accept a cash or other payment from you to the extent of any remaining balance
of the aggregate exercise price not satisfied by such reduction in the number of whole shares to be issued; provided further, however,
that shares of Common Stock will no longer be outstanding under your option and will not be exercisable thereafter to the extent
that (1) shares are used to pay the exercise price pursuant to the “net exercise,” (2) shares are delivered to you
as a result of such exercise, and (3) shares are withheld to satisfy tax withholding obligations.

 

5.          Whole
Shares. You may exercise your option only for whole shares of Common Stock.

 

6.          Securities
Law Compliance. Notwithstanding anything to the contrary contained herein, you may not
exercise your option unless the shares of Common Stock issuable upon such exercise are then registered under the Securities Act
or, if such shares of Common Stock are not then so registered, the Company has determined that such exercise and issuance would
be exempt from the registration requirements of the Securities Act. The exercise of your option also must comply with other applicable
laws and regulations governing your option, and you may not exercise your option if the Company determines that such exercise would
not be in material compliance with such laws and regulations.

 

7.          Term.
You may not exercise your option before the commencement or after the expiration of its term. The term of your option commences
on the Date of Grant and expires, subject to the provisions of Section 5(h) of the Plan, upon the earliest of the following:

 

(a)          one
(1) year after the termination of your Continuous Service; 

 

(b)          the
Expiration Date indicated in your Grant Notice; or

 

(c)          the
day before the tenth (10th) anniversary of the Date of Grant.

 

8.           Exercise.

 

(a)          You
may exercise the vested portion of your option (and the unvested portion of your option if your Grant Notice so permits) during
its term by transacting an exercise using the online brokerage account reserved for you by the Company or by delivering a Notice
of Exercise (in a form designated by the Company) together with the exercise price to the Secretary of the Company, or to such
other person as the Company may designate, during regular business hours, together with such additional documents as the Company
may then require.

 

(b)          By
exercising your option you agree that, as a condition to any exercise of your option, the Company may require you to enter into
an arrangement providing for the payment by you to the Company of any tax withholding obligation of the Company arising by reason
of (1) the exercise of your option, (2) the lapse of any substantial risk of forfeiture to which the shares of Common Stock are
subject at the time of exercise, or (3) the disposition of shares of Common Stock acquired upon such exercise.

 

    	2.

    	 

    

  

9.          Transferability.
Except as otherwise provided in this Section 9, your option is not transferable, except by will or by the laws of descent and distribution,
and is exercisable during your life only by you. 

 

(a)          Certain
Trusts. Upon receiving written permission from the Board or its duly authorized designee,
you may transfer your option to a trust if you are considered to be the sole beneficial owner (determined under Section 671 of
the Code and applicable state law) while the option is held in the trust, provided that you and the trustee enter into transfer
and other agreements required by the Company. 

 

(b)          Domestic
Relations Orders. Upon receiving written permission from the Board or its duly authorized
designee, and provided that you and the designated transferee enter into transfer and other agreements required by the Company,
you may transfer your option pursuant to a domestic relations order that contains the information required by the Company to effectuate
the transfer. You are encouraged to discuss the proposed terms of any division of this option with the Company prior to finalizing
the domestic relations order to help ensure the required information is contained within the domestic relations order. If this
option is an Incentive Stock Option, this option may be deemed to be a Nonstatutory Stock Option as a result of such transfer.

 

(c)          Beneficiary
Designation. Upon receiving written permission from the Board or its duly authorized designee,
you may, by delivering written notice to the Company, in a form provided by or otherwise satisfactory to the Company and any broker
designated by the Company to effect option exercises, designate a third party who, in the event of your death, shall thereafter
be entitled to exercise this option and receive the Common Stock or other consideration resulting from such exercise. In the absence
of such a designation, your executor or administrator of your estate shall be entitled to exercise this option and receive, on
behalf of your estate, the Common Stock or other consideration resulting from such exercise.

 

10.         Option
not a Service Contract. Your option is not an employment or service contract, and nothing
in your option shall be deemed to create in any way whatsoever any obligation on your part to continue in the employ of the Company
or an Affiliate, or of the Company or an Affiliate to continue your employment. In addition, nothing in your option shall obligate
the Company or an Affiliate, their respective stockholders, Boards of Directors, Officers or Employees to continue any relationship
that you might have as a Director or Consultant for the Company or an Affiliate.

 

11.         Withholding
Obligations.

 

(a)          At
the time you exercise your option, in whole or in part, or at any time thereafter as requested by the Company, you hereby authorize
withholding from payroll and any other amounts payable to you, and otherwise agree to make adequate provision for (including by
means of a “cashless exercise” pursuant to a program developed under Regulation T as promulgated by the Federal Reserve
Board to the extent permitted by the Company), any sums required to satisfy the federal, state, local and foreign tax withholding
obligations of the Company or an Affiliate, if any, which arise in connection with the exercise of your option.

 

(b)          Upon
your request and subject to approval by the Company, in its sole discretion, and in compliance with any applicable legal conditions
or restrictions, the Company may withhold from fully vested shares of Common Stock otherwise issuable to you upon the exercise
of your option a number of whole shares of Common Stock having a Fair Market Value, determined by the Company as of the date of
exercise, not in excess of the minimum amount of tax required to be withheld by law (or such lower amount as may be necessary to
avoid classification of your option as a liability for financial accounting purposes). If the date of determination of any tax
withholding obligation is deferred to a date later than the date of exercise of your option, share withholding pursuant to the
preceding sentence shall not be permitted unless you make a proper and timely election under Section 83(b) of the Code, covering
the aggregate number of shares of Common Stock acquired upon such exercise with respect to which such determination is otherwise
deferred, to accelerate the determination of such tax withholding obligation to the date of exercise of your option. Notwithstanding
the filing of such election, shares of Common Stock shall be withheld solely from fully vested shares of Common Stock determined
as of the date of exercise of your option that are otherwise issuable to you upon such exercise. Any adverse consequences to you
arising in connection with such share withholding procedure shall be your sole responsibility.

 

    	3.

    	 

    

  

(c)          You
may not exercise your option unless the tax withholding obligations of the Company and/or any Affiliate are satisfied. Accordingly,
you may not be able to exercise your option when desired even though your option is vested, and the Company shall have no obligation
to issue a certificate for such shares of Common Stock unless such obligations are satisfied.

 

12.         Change
In Control. 

 

(a)          If
a Change in Control (as defined in the Plan) occurs and as of, or within twelve (12) months after, the effective time of such Change
in Control, your Continuous Service terminates, then your options will accelerate and become fully vested and immediately exercisable,
unless the termination was a result of your resignation (other than any resignation contemplated by the terms of the Change in
Control or required by the Company or the acquiring entity pursuant to the Change in Control).

 

(b)          In
the event that the acceleration of the vesting and exercisability of the Options provided for in paragraph (a) of this Section
entitled “Change in Control” and benefits otherwise payable to you (“Payment”) would (i) constitute a “parachute
payment” within the meaning of Section 280G of the Code, and (ii) but for this sentence, be subject to the excise tax imposed
by Section 4999 of the Code (the “Excise Tax”), then such Payment shall be equal to the Reduced Amount. The “Reduced
Amount” shall be either (x) the largest portion of the Payment that would result in no portion of the Payment being subject
to the Excise Tax or (y) the largest portion, up to and including the total, of the Payment, whichever amount, after taking into
account all applicable federal, state and local employment taxes, income taxes, and the Excise Tax (all computed at the highest
applicable marginal rate), results in your receipt, on an after-tax basis, of the greater amount of the Payment notwithstanding
that all or some portion of the Payment may be subject to the Excise Tax. If a reduction in payments or benefits constituting “parachute
payments” is necessary so that the Payment equals the Reduced Amount, reduction shall occur in the following order with the
intention of maximizing the value delivered to you: reduction of cash payments; cancellation of accelerated vesting of restricted
stock units and Options; reduction of employee benefits. In the event that acceleration of vesting of Option or restricted stock
unit compensation is to be reduced, such acceleration of vesting shall be cancelled in the order of grant that maximizes the value
delivered to you.

 

The accounting firm engaged by the Company
for general audit purposes as of the day prior to the effective date of the Change in Control shall perform the foregoing calculations.
If the accounting firm so engaged by the Company is serving as accountant or auditor for the individual, entity or group effecting
the Change in Control, the Company shall appoint a nationally recognized accounting firm to make the determinations required hereunder.
The Company shall bear all expenses with respect to the determinations by such accounting firm required to be made hereunder.

 

The accounting firm engaged
to make the determinations hereunder shall provide its calculations, together with detailed supporting documentation, to you and
the Company within fifteen (15) calendar days after the date on which your right to a Payment is triggered (if requested at that
time by you or the Company) or such other time as requested by you or the Company. If the accounting firm determines that no Excise
Tax is payable with respect to a Payment, either before or after the application of the Reduced Amount, it shall furnish you and
the Company with an opinion reasonably acceptable to you that no Excise Tax will be imposed with respect to such Payment. Any good
faith determinations of the accounting firm made hereunder shall be final, binding and conclusive upon you and the Company.

 

13.         Tax
Consequences. You hereby agree that the Company does not have a duty to design or administer
the Plan or its other compensation programs in a manner that minimizes your tax liabilities. You shall not make any claim against
the Company, or any of its Officers, Directors, Employees or Affiliates related to tax liabilities arising from your option or
your other compensation. In particular, you acknowledge that this option is exempt from Section 409A of the Code only if the exercise
price per share specified in the Grant Notice is at least equal to the “fair market value” per share of the Common
Stock on the Date of Grant and there is no other impermissible deferral of compensation associated with the option. 

 

    	4.

    	 

    

  

14.         Other
Documents. You hereby acknowledge
receipt or the right to receive a document providing the information required by Rule 428(b)(1) promulgated under the Securities
Act, which includes the Plan prospectus. In addition, you acknowledge receipt of the Company’s policy permitting certain
individuals to sell shares only during certain “window” periods and the Company’s insider trading policy, in
effect from time to time.

 

15.         Notices.
Any notices provided for in your option or the Plan shall be given in writing or shall be delivered electronically, and shall be
deemed effectively given or delivered upon receipt or, in the case of notices delivered by mail by the Company to you, five (5)
days after deposit in the United States mail, postage prepaid, addressed to you at the last address you provided to the Company.

 

16.         Governing
Plan Document. Your option is subject to all the provisions of the Plan, the provisions
of which are hereby made a part of your option, and is further subject to all interpretations, amendments, rules and regulations,
which may from time to time be promulgated and adopted pursuant to the Plan. In the event of any conflict between the provisions
of your option and those of the Plan, the provisions of the Plan shall control.

 

    	5.

    	 

    

  

Attachment
II

 

2011
Equity and Incentive Plan

 

    	6.

    	 

    

  

Attachment
III

 

Notice
of Exercise

2011
Equity and Incentive Plan

 

	LeapFrog Enterprises, Inc.	 
	6401 Hollis Street, Suite 100	 
	Emeryville, California 94608-1071	Date of Exercise:	 

 

This constitutes notice
under my stock option that I elect to purchase the number of shares for the price set forth below for an exercise that is not transacted
through a LeapFrog online brokerage account:

 

	Type of option (check one):	Incentive   ̈	Nonstatutory   ̈
	 	 
	Stock option dated:	 	 	 
	 	 	 	 
	Grant number:	 	 	 
	 	 	 	 
	Number of shares as to which option is exercised:	 	 	 
	 	 	 	 
	Shares to be issued in name of if not the same name as set	 	 	 
	forth on your Stock Option Grant Notice:	 

                                                                       
		 
	 	 	 	 
	Total exercise price:	$	 	 
	 	 	 	 
	Cash payment delivered herewith:	$	 	 
	 	 	 	 
	Regulation T Program (cashless exercise)	$	 	 
	 	 	 	 
	Value of __________ shares of LeapFrog Enterprises, Inc. Class A  common stock pursuant to delivery of already-owned shares or net exercise:	$	 	 
	 	 	 	 	 

By this exercise, I
agree (i) to provide such additional documents as you may require pursuant to the terms of the 2011
Equity and Incentive Plan, (ii) to provide for the payment by me to you (in the manner designated by you) of your withholding
obligation, if any, relating to the exercise of this option, and (iii) if this exercise relates to an Incentive Stock Option,
to notify you in writing within fifteen (15) days after the date of any disposition of any of the shares of Common Stock issued
upon exercise of this option that occurs within two (2) years after the date of grant of this option or within one (1) year after
such shares of Common Stock are issued upon exercise of this option.

 

	 	 
	 	Signature
	 	 
	 	 
	 	Print Name (as it appears on your Option)

 

    	 

    	 

    

  

Brokerage Information:

 

	Brokerage Firm:	 	 	 
	Contact Person:	 	 	 
	Phone:	 	 Fax:	 
	Account Number:	 	 DTC#:	 
	Account in name of:	 	 	 

  

	For tax reporting purposes, please provide:	 
	Current Address:	 
	 	 
	 	 
	 	 
	 	 

 

 

	Social Security Number:	 
	 	 

 

    	2.

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