Document:

EX-10.1

 Exhibit 10.1 

Subscription Agreement 

_____March, 2022 
 LumiraDx Limited 

c/o Ocorian Trust (Cayman) Limited 
 PO Box 1350, Windward 3,
Regatta Office Park 
 Grand Cayman KY1-1108 Cayman Islands 

Attn: Dorian LeBlanc, Chief Financial Officer 
  

	Re:	 Subscription for 6.00% Convertible Senior Subordinated Notes due 2027 

Ladies and Gentlemen: 
 LumiraDx Limited, an exempted company
with limited liability incorporated under the laws of the Cayman Islands (the “Company”), is offering the undersigned qualified investor (the “Investor”), on behalf of itself and each account listed on Exhibit
A hereto (each, an “Account”) for whom the Investor has been duly authorized to enter into this subscription agreement, the opportunity to subscribe for and purchase from the Company (the “Notes Offering”) its
6.00% Convertible Senior Subordinated Notes due 2027 (the “Notes”), for cash pursuant and subject to the terms and conditions set forth in this subscription agreement (the “Subscription Agreement”). On or about the
date of this Subscription Agreement or by the Long Stop Date, the Company is entering into or will enter into subscription agreements (the “Other Subscription Agreements”) with certain other investors (the “Other
Investors” and together with the Investor, the “Note Investors”) pursuant to which the Note Investors, severally and not jointly, have agreed to purchase on the Closing Date (as defined below) or on a Subsequent Closing
Date (as defined below) up to $82 million in aggregate principal amount of Notes, including of the Purchased Notes (as defined below). 
 The Investor
and each Account understands that the Notes Offering is being made without registration under the Securities Act of 1933, as amended (the “Securities Act”), or any securities laws of any state of the United States or of any other
jurisdiction, and that the Notes Offering is only being made to investors who are “accredited investors” (as defined in Rule 501 of Regulation D under the Securities Act) or “qualified institutional buyers” (as defined in Rule
144A under the Securities Act) in reliance upon a private placement exemption from registration under the Securities Act. 
 The Notes Offering is described
in and is being made pursuant to the Pricing Term Sheet, dated on or about the date hereof (the “Pricing Term Sheet”), and the Notes will be issued pursuant to the Indenture to be dated on or about the Closing Date, between the
Company and U.S. Bank National Association, as trustee (the “Notes Trustee”), in substantially the form attached hereto as Exhibit E hereto (the “Indenture”). Certain holders of the Notes will be entitled to
the benefits of a registration rights agreement, to be dated as of the Closing Date, the form of which is attached hereto as Exhibit F hereto (the “Resale Registration Rights Agreement”), between the Company and certain of
the Notes Investors, pursuant to which the Company will agree to file one or more registration statements with the U.S. Securities and Exchange Commission (the “SEC”) providing for the registration under the Securities Act of the
Registrable Securities (as such term is defined in the Resale Registration Rights Agreement). This Subscription Agreement, the Indenture, the Notes and the Resale Registration Rights Agreement are referred to herein collectively as the
“Transaction Documents,” and the Transaction Documents together with the Pricing Term Sheet are referred to as the “Private Placement Documents.” 

 

	 	1.	 The Subscription. Subject to the terms and conditions of this Subscription Agreement, the Investor, on
behalf of itself and each participating Account, hereby agrees to purchase from the Company, and the Company hereby agrees to issue and sell to the Investor and each Account, as applicable, Notes (the “Purchased Notes”) having an
aggregate principal amount as set forth in the relevant column in Exhibit A hereto (the “Purchased Principal Amount”), for an aggregate purchase price in cash for such Purchased Notes as set forth in the relevant column in
Exhibit A hereto (such aggregate cash purchase price, the “Cash Purchase Price”). 

  

	 	2.	 The Closing. The initial closing of the Notes Offering (the “Closing”) shall take place
at 10:00 a.m., New York City time, on 3 March, 2022, or at such other time and place as the Company may designate by at least one business day’s advance notice to the Investor (the “Closing Date”); provided that the
Closing Date cannot be later than 4 March, 2022 without the prior written consent 

 of the Investor. The Notes Offering will remain open for further closings (each a
“Subsequent Closing”) at any time up to the earlier of: (i) the Company’s announcement of its results of operations for the year ended December 31, 2021; and (ii) March 20, 2022 (such earlier date being the
“Long Stop Date”). The Company may enter into Other Subscription Agreements with certain other investors up to the Long Stop Date and the date of any such Subsequent Closing shall be referred to herein as a “Subsequent
Closing Date”. 
  

	 	3.	 The Terms of the Notes Offering; Closing Mechanics. 

 

	 	(a)	 The Depository Trust Company (“DTC”) will act as securities depositary for the Notes. At or
prior to the times set forth in the Subscription Procedures set forth in Exhibit B hereto (the “Subscription Procedures”), the Investor (for and on behalf of itself and each participating Account) shall transfer the Cash
Purchase Price by wire of immediately available funds to the account of the Company designated in the Subscription Procedures. 

  

	 	(b)	 On the Closing Date, subject to satisfaction of the conditions precedent specified in
Section 6 hereof, and the prior receipt by the Company of the Cash Purchase Price from the Investor, the Company shall execute, cause the Notes Trustee to authenticate and cause to be delivered to the DTC account
specified by the Investor on the signature page hereto, the Purchased Notes. 

  

	 	4.	 Representations and Warranties of the Company. The Company represents and warrants (the “Company
Warranties”) to the Investor (and each Account, as applicable) that: 

  

	 	(a)	 Organization. It is duly organized and is validly existing as an exempted company with limited liability
in good standing under the laws of the jurisdiction in which it is incorporated, with company power and authority to own, lease and operate its properties and conduct its business substantially as presently conducted and to enter into, deliver and
perform its obligations under each of the Transaction Documents. 

  

	 	(b)	 Due Authorization. This Subscription Agreement has been duly authorized, executed and delivered by the
Company and, assuming that this Subscription Agreement constitutes the valid and binding agreement of the Investor, this Subscription Agreement is enforceable against the Company in accordance with its terms, except that the enforcement thereof may
be subject to applicable bankruptcy, reorganization, insolvency, moratorium or other laws affecting creditors’ rights generally from time to time in effect and to general principles of equity relating to enforceability (collectively, the
“Enforceability Exceptions”). 

  

	 	(c)	 Non-Contravention. The execution, delivery and performance by
the Company of each of the Transaction Documents, and the consummation by it of the transactions contemplated thereby (including, without limitation, the offer and sale of the Notes and the Conversion Shares (as defined herein)) do not and will not
(1) conflict with or result in a breach or violation of any term or provision of, or constitute a default under, or result in the creation or imposition of any lien, charge or encumbrance upon any of the property or assets of the Company or its
subsidiaries pursuant to the terms of any indenture, mortgage, deed of trust, loan agreement, lease, license or other agreement or instrument to which the Company or any of its subsidiaries is a party or by which the Company or any of its
subsidiaries is bound or to which any of the property or assets of the Company or any of its subsidiaries is subject, (2) result in any violation of any statute or any judgement, order, law, rule or regulation of any court or government agency
or body, domestic or foreign, having jurisdiction over the Company or any of its subsidiaries or any of their properties or assets, or (3) result in violation of the provisions of the amended and restated memorandum and articles of association
of the Company or any similar organizational documents of any of the Company’s subsidiaries, except, in the case of clauses (1) and (2), to the extent that such conflict, breach or violation would not, individually or in the aggregate,
reasonably be expected to (i) have a material adverse effect on the business, condition (financial or otherwise), shareholders’ equity or results of operations, properties or prospects of the Company and its subsidiaries, taken as a whole,
or (ii) materially impair the performance by the Company of its obligations under any Transaction Document (including, without limitation, the offer and sale of the Notes and the Conversion Shares) (each of clauses (i) and (ii), a
“Material Adverse Effect”). 

  
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	 	(d)	 No Consents. The Company is not required to obtain any consent, waiver, authorization or order of, give
any notice to, or make any filing or registration with, any court or other federal, state, local or other governmental authority or self-regulatory organization in connection with the execution, delivery and performance by the Company of its
obligations under any Transaction Document (including, without limitation, the offer and sale of the Notes and the Conversion Shares), other than (i) as have been or will be obtained and will be effective as of the Closing Date, (ii) as
required under The Nasdaq Stock Market LLC (“Nasdaq”) Listing Rules or (iii) as would not reasonably be expected to, individually or in the aggregate, have a Material Adverse Effect. No approval of the shareholders of the
Company is required under the laws of the Cayman Islands to issue and deliver the Notes to the Notes Investors or the Conversion Shares upon the conversion of the Notes 

 

	 	(e)	 No Actions, Suits or Proceedings. Except for such matters as have not had and would not reasonably be
expected to have, individually or in the aggregate, a Material Adverse Effect, as of the date hereof, there is no (i) action, suit, claim or other proceeding, in each case by or before any governmental authority pending, or, to the knowledge of
the Company, threatened against the Company; or (ii) judgment, decree, injunction, ruling or order of any governmental entity or arbitrator outstanding against the Company. 

 

	 	(f)	 Compliance with Laws and Other Instruments. The Company possesses all certificates,
authorizations and permits issued by the appropriate federal, state or foreign regulatory authorities as necessary under applicable law to conduct its business in all material respects as it is now being conducted, except where such failures would
not reasonably be expected to, individually or in the aggregate, have a Material Adverse Effect. The Company (i) is and has been in compliance in all material respects with all applicable laws, statutes, rules, regulations, orders and judgments
(including, without limitation, the rules and regulations of Nasdaq relating to its businesses, (ii) is and has been in compliance with its amended and restated memorandum and articles of association, (iii) is not materially in breach,
default or violation of any Company Permit and (iv) is not in default, and no event has occurred that, with notice or lapse of time or both, would constitute such a default, in the due performance and observance of any term, covenant or
condition contained in any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which the Company or any of its subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any
property or assets of the Company or any of its subsidiaries is subject, except, in the case of clauses (i), (iii) and (iv), for any such failures as would not reasonably be expected to, individually or in the aggregate, have a Material Adverse
Effect. 

  

	 	(g)	 Authorization of Notes. The offering and sale of the Notes pursuant to this Subscription Agreement have
been duly authorized by the Company and, when issued and authenticated in accordance with the Indenture and this Subscription Agreement and delivered to and paid for by the Investor in accordance with the terms hereof, the Notes will be validly
issued and will constitute legal, valid and binding obligations of the Company, enforceable against the Company in accordance with their terms, except that the enforcement thereof may be subject to the Enforceability Exceptions.

  

	 	(h)	 Authorization of Indenture. The Indenture has been duly authorized by the Company and, when executed and
delivered by the Company and the Notes Trustee, will constitute a legal, valid and binding obligation of the Company, enforceable against the Company, in accordance with its terms, except that the enforcement thereof may be subject to the
Enforceability Exceptions. 

  

	 	(i)	 Authorization of Resale Registration Rights Agreement. The Resale Registration Rights Agreement has been
duly authorized by the Company and, when executed and delivered by the Company and the Investor, will constitute a legal, valid and binding obligation of the Company, enforceable against the Company, in accordance with its terms, except that the
enforcement thereof may be subject to the Enforceability Exceptions. 

  
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	 	(j)	 Exemption from Registration. Assuming the accuracy of the representations and warranties of the Investor
and each Other Investor executing any Other Subscription Agreements for the subscription of Notes, (1) the issuance of the Notes pursuant to this Subscription Agreement is exempt from the registration requirements of the Securities Act and
(2) the Indenture is not required to be qualified under the Trust Indenture Act of 1939, as amended. The Notes (A) were not offered by any form of general solicitation or general advertising and (B) are not being offered in a manner
involving a public offering under, or in a distribution in violation of, the Securities Act, or any state securities laws. Neither the Company, nor any person acting on its behalf, has, directly or indirectly, made any offers or sales of any
security of the Company or solicited any offers to buy any security, under circumstances that would adversely affect reliance by the Company on an exemption from registration for the transactions contemplated hereby or would require registration of
the Notes under the Securities Act. 

  

	 	(k)	 New Class. The Notes, when issued, will not be of the same class as securities listed on a national
securities exchange registered under Section 6 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or quoted in a U.S. automated inter-dealer quotation system, within the meaning of Rule 144A(d)(3)(i) under
the Securities Act. 

  

	 	(l)	 Investment Company Act. The Company is not, and immediately after issuance of the Notes and the
Conversion Shares will not be, an “investment company” within the meaning of the Investment Company Act of 1940, as amended. 

  

	 	(m)	 Conversion Shares. The maximum number of the Company’s common shares, par value $0.0000028 per
share (the “Common Shares”) issuable upon conversion of the Notes (the “Conversion Shares”) (assuming settlement solely in Common Shares and taking into account the maximum make-whole adjustment under the Indenture)
have been duly and validly authorized for issuance by the Company. When issued and delivered to the Investor upon conversion of the Notes in accordance with the terms of such Notes and the Indenture, the Conversion Shares will be validly issued,
fully paid and non-assessable, free and clear of all liens or other restrictions (other than those arising under applicable securities laws) and will not have been issued in violation of or subject to any
preemptive or similar rights. 

  

	 	(n)	 SEC Filings. As of their respective dates, all forms, reports, statements, schedules, prospectuses,
proxies, registration statements and other documents (the “SEC Reports”) required to be filed by the Company with the SEC have complied in all material respects with the applicable requirements of the Securities Act and the
Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations of the SEC promulgated thereunder, and none of the SEC Reports, when filed, contained any untrue statement of a material fact or omitted
to state a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. The financial statements of the Company included in the SEC
Reports comply in all material respects with applicable accounting requirements and the rules and regulations of the SEC with respect thereto as in effect at the time of filing and fairly present in all material respects the financial condition of
the Company as of and for the dates thereof and the results of operations and cash flows for the periods then ended, subject, in the case of unaudited statements, to normal, year-end audit adjustments. A copy
of each SEC Report is available to the Investor via the SEC’s EDGAR system. There are no outstanding or unresolved comments in comment letters received by the Company from the staff of the Division of Corporation Finance of the SEC with respect
to any of the SEC Reports. 

  

	 	(o)	 Capitalization. As of the date of this Subscription Agreement, the authorized share capital of the
Company consists of (1) 1,769,292,966 A ordinary shares, par value US$0.0000028 per A ordinary share (the “A Ordinary Shares”), (2) 1,769,292,966 Common Shares and

  
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(3) 136,414,068 undesignated shares with a par value of such class or classes (however designated) and having such rights as the Company’s board of directors may determine in accordance with
the provisions of the Articles. As of the date of this Subscription Agreement, (A) 207,462,080 A Ordinary Shares are issued and outstanding, (B) 45,241,767 Common Shares are issued and outstanding, (C) warrants to purchase 5,430,778 A Ordinary
Shares are issued and outstanding; and (D) warrants to purchase 7,828,251 Common Shares are issued and outstanding. All (1) issued and outstanding Common Shares and A Ordinary Shares have been duly authorized and validly issued, are fully
paid and are non-assessable and (2) outstanding warrants have been duly authorized and validly issued. Except as set forth above or pursuant to the Other Subscription Agreements or any equity incentive
plans, employee stock purchase plans, agreements and arrangements described in the SEC Reports, including any options or other equity awards issued pursuant to such plans, agreements or arrangements, or as otherwise disclosed to the Investor, as of
the date hereof, there are no outstanding options or warrants to subscribe for, purchase or acquire from the Company any A Ordinary Shares, Common Shares or other equity interests in the Company, or securities convertible into or exchangeable or
exercisable for such equity interests. There are no securities or instruments issued by or to which the Company is a party containing anti-dilution or similar provisions that will be triggered by issuance of the Notes and Conversion Shares pursuant
to this Subscription Agreement and the Other Subscription Agreements and the Indenture. There are no shareholder agreements, voting trusts or other agreements or understandings to which the Company is a party or by which it is bound relating to the
voting of any securities of the Company, other than as set forth in the SEC Reports. 

  

	 	(p)	 Listing of Common Shares. The issued and outstanding Common Shares are registered pursuant to
Section 12(b) of the Exchange Act, and are listed for trading on the Nasdaq Global Select Market under the symbol “LMDX.” The Company has taken no action that is designed to terminate the registration of the Common Shares under the
Exchange Act. Subject to the Company’s notification, documentary submission and disclosure requirements under Section 5615(a)(3) of the Nasdaq Listing Rules, no approval of the shareholders of the Company under the rules and regulations of
Nasdaq is required to issue and deliver the Notes to the Notes Investors or the Conversion Shares upon the conversion of the Notes. The Company has, with respect to the Conversion Shares, submitted the notification of listing of additional shares
with Nasdaq. 

  

	 	(q)	 Brokerage and Finder’s Fees. Except for the Placement Agent (as defined below), no broker or finder
is entitled to any brokerage or finder’s fee or commission from the Company solely in connection with the sale of the Purchased Notes to the Investor. 

The Company Warranties are qualified to the extent, but only to the extent, of those matters disclosed in the SEC Reports (which shall include,
for the avoidance of doubt the Company’s registration statement on Form F-4). References in the Company Warranties to “to the Company’s knowledge” shall be deemed to refer to the
actual knowledge of the Company, having made reasonable enquiry of Ron Zwanziger, Dorian Leblanc and Veronique Ameye. 
  

	 	5.	 Representations, Warranties and Undertakings of the Investor. The Investor hereby represents and
warrants to and covenants with the Company that: 

  

	 	(a)	 The Investor is a corporation, limited partnership, limited liability company or other entity, as the case may
be, duly formed, validly existing and in good standing under the laws of the jurisdiction of its formation. The execution, delivery and performance by the Investor of this Subscription Agreement and the purchase of the Notes as provided for herein
has been duly authorized and this Subscription Agreement has been duly executed by the Investor and when delivered will constitute the valid and legally binding obligation of such Investor, enforceable against such Investor in accordance with its
terms, subject to the Enforceability Exceptions. 

  
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	 	(b)	 The execution and delivery of this Subscription Agreement and the Investor’s participation in the Notes
Offering will comply with and not contravene (1) any law, rule or regulation binding on the Investor or any investment guideline or restriction applicable to the Investor (or, if applicable, the Accounts) that would be reasonably expected to
have a material adverse effect on the Investor’s ability to consummate the transactions contemplated hereby, including the purchase of the Purchased Notes. or (2) the charter or bylaws (or equivalent organizational documents) of the
Investor (or, if applicable, the Accounts). 

  

	 	(c)	 If the Investor is executing this Subscription Agreement on behalf of an Account, (i) the Investor has all
requisite authority to enter into this Subscription Agreement on behalf of, and bind, each Account to the terms of this Subscription Agreement and (ii) Exhibit A hereto is a true, correct and complete list of the name of each Account.

  

	 	(d)	 The Investor and each Account is a resident of the jurisdiction set forth in Exhibit C and, unless
otherwise set out in Exhibit A, is not acquiring the Notes as a nominee or agent or otherwise for any other person. 

  

	 	(e)	 The Investor and each Account will comply with all applicable laws and regulations in effect in any
jurisdiction in which the Investor or such Account purchases or sells Notes (including, where applicable and without limitation, the United Kingdom Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations
2017 (as amended), the United Kingdom Terrorism Act 2000 (as amended) and the United Kingdom Proceeds of Crime Act 2002)) (together, the “Money Laundering Regulations”)) and will obtain any consent, approval or permission required
for such purchases, acquisitions or sales under the laws and regulations of any jurisdiction to which the Investor or such Account is subject or in which the Investor or such Account makes such purchases, acquisitions or sales and the Company will
not have any responsibility therefor. 

  

	 	(f)	 The Investor and each Account has received a copy of the Private Placement Documents. The Investor, on behalf
of itself and each Account, acknowledges that: (1) no person has been authorized to give any information or to make any representation concerning the Notes Offering or the Company or any of its subsidiaries, other than as contained in the
Private Placement Documents or in the information given by the Company’s duly authorized officers in connection with the Investor’s examination of the Company and its subsidiaries and the terms of the Notes Offering; and (2) the
Company and its subsidiaries do not take any responsibility for, and neither the Company nor any of its subsidiaries can provide any assurance as to the reliability of, any other information that may have been provided to the Investor. The Investor,
on behalf of itself and each Account, hereby acknowledges that J. Wood Capital Advisors LLC (the “Placement Agent”) does not take any responsibility for, and can provide no assurance as to the reliability of, the information set
forth in the Private Placement Documents or any such other information. 

  

	 	(g)	 The Investor and each Account understands and accepts that acquiring the Notes in the Notes Offering involve
risks, including those described in the Company’s Form 20-F (including any information incorporated by reference) filed with the SEC. The Investor and each Account has such knowledge, skill and experience
in business, financial and investment matters that the Investor and each Account is capable of evaluating the merits and risks of the Notes Offering and an investment in the Notes. With the assistance of its own professional advisors (to the extent
that the Investor and each Account has deemed appropriate), the Investor and each Account has made its own legal, tax, accounting and financial evaluation of the merits and risks of an investment in the Notes and the consequences of the Notes
Offering and this Subscription Agreement. The Investor and each Account has considered the suitability of the Notes as an investment in light of its own circumstances and financial condition, and the Investor and each Account is able to bear the
risks associated with an investment in the Notes. The Investor is aware that the investment in the Notes is speculative, there is no assurance that the Company will develop a viable business, that any such business will be profitable or that any
amounts due pursuant to the Notes will be repaid. 

  

	 	(h)	 The Investor confirms that neither it nor any Account is relying on any communication (written or oral) of the
Company or the Placement Agent or any of their respective agents 

  
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or affiliates as investment advice or as a recommendation to participate in the Notes Offering and receive the Notes pursuant to the terms hereof. It is understood that information provided in
the Private Placement Documents, or by the Company or the Placement Agent or any of their respective agents or affiliates, shall not be considered investment advice or a recommendation with respect to the Notes Offering, and that none of the Company
or the Placement Agent or any of their respective agents or affiliates is acting or has acted as an advisor to the Investor or any Account in deciding whether to participate in the Notes Offering. 

 

	 	(i)	 The Investor confirms, for itself and for each Account, that neither the Company nor the Placement Agent has
(1) given any guarantee or representation as to the potential success, return, effect or benefit (either legal, regulatory, tax, financial, accounting or otherwise) of an investment in the Notes or (2) made any representation to the
Investor regarding the legality of an investment in the Notes under applicable investment guidelines, laws or regulations. In deciding to participate in the Notes Offering, neither the Investor nor any Account is relying on the advice or
recommendations of the Company or the Placement Agent, and the Investor and each Account has made its own independent decision that the investment in the Notes is suitable and appropriate for the Investor or such Account. 

 

	 	(j)	 The Investor and each Account is a sophisticated participant in the transactions contemplated hereby and has
such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of an investment in the Notes, is experienced in investing in capital markets and is able to bear the economic risk of an investment
in the Notes. The Investor and each Account is familiar with the business and financial condition and operations of the Company and its subsidiaries and has conducted its own investigation of the Company and its subsidiaries and the Notes and has
consulted with its own advisors concerning such matters and shall be responsible for making its own independent investigation and appraisal of the transactions contemplated hereby. The Investor and each Account has had access to the Company’s
filings with the SEC and such other information concerning the Company and its subsidiaries and the Notes as it deems necessary to enable it to make an informed investment decision concerning the Notes Offering. The Investor and each Account has
been offered the opportunity to ask questions of the Company and its representatives and has received answers thereto as the Investor or such Account deems necessary to enable it to make an informed investment decision concerning the Notes Offering
and the Notes. The Investor did not learn of the investment in the Notes as a result of any general solicitation or general advertising. 

  

	 	(k)	 The Investor and each Account understands that no federal, state, local or foreign agency has passed upon the
merits or risks of an investment in the Notes or made any finding or determination concerning the fairness or advisability of such investment. 

  

	 	(l)	 The Investor and each Account is an “accredited investor” as defined in Rule 501(a) of Regulation D
under the Securities Act and/or a “qualified institutional buyer” as defined in Rule 144A under the Securities Act. The Investor, for itself and on behalf of each Account, agrees to furnish any additional information reasonably requested
by the Company or any of its affiliates to assure compliance with applicable U.S. federal and state securities laws in connection with the Notes Offering. 

  

	 	(m)	 The Investor and each Account is not directly, or indirectly through one or more intermediaries, controlling or
controlled by, or under direct or indirect common control with, the Company and is not, and has not been for the immediately preceding three months, an “affiliate” (within the meaning of Rule 144 under the Securities Act) of the Company.

  

	 	(n)	 The Investor and each Account is acquiring the Notes solely for the Investor’s or such Account’s own
beneficial account, or for an account with respect to which the Investor or such Account exercises sole investment discretion, for investment purposes, and not with a view to, or for resale in connection with, any distribution of the Notes in
violation of the Securities Act without prejudice, however, to such Investor’s right at all times to sell or otherwise dispose of all or any part of such Notes in compliance with applicable federal

  
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and state securities laws. The Investor and each Account understands that the offer and sale of the Notes have not been registered under the Securities Act or any state securities laws by reason
of specific exemptions under the provisions thereof that depend in part upon the investment intent of the Investor or each Account and the accuracy of the other representations made by the Investor and each Account in this Subscription Agreement.

  

	 	(o)	 The Investor and each Account understands that the Company is relying upon the representations and agreements
contained in this Subscription Agreement (and any supplemental information) for the purpose of determining whether the Investor’s and such Account’s participation in the Notes Offering meets the requirements for the exemptions from the
registration requirements of the Securities Act. 

  

	 	(p)	 The Investor and each Account acknowledges that the Notes have not been registered under the Securities Act. As
a result, the Notes may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities
Act (including but not limited to the restrictions on transfer described in Exhibit B-1 to the Indenture), and the Investor, for itself and on behalf of each Account, hereby agrees that neither it nor any
Account will sell the Notes other than in compliance with such transfer restrictions. 

  

	 	(q)	 The Investor and each Account is a person to whom any communication that is a “financial promotion”
as referred to in the United Kingdom Financial Services and Markets Act 2000 (“FSMA”), may lawfully be issued, directed or otherwise communicated without the need for such communication to be approved, made or directed by an
“authorized person” as referred to in FSMA. 

  

	 	(r)	 Without limitation to the foregoing, if the communication is made to an Investor or an Account in the United
Kingdom, the Investor and the relevant Account is a person: (i) who has professional experience in matters relating to investments and who is an investment professional as referred to in Article 19(5) of the Financial Promotions Order; and/or
(ii) a person to whom Article 49(2) of the Financial Promotions Order applies including a body with net assets of at least £5 million; and/or (iii) a sophisticated investor as referred to in Article 50A of the Financial
Promotions Order; and/or (iv) a high net worth individual as referred to in Article 48 of the Financial Promotions Order; and/or (v) a person to whom Article 43 of the Financial Promotions Order applies. 

 

	 	(s)	 The Investor and each Account acknowledges that the terms of the Notes Offering have been mutually negotiated
between the Investor (for itself and on behalf of each Account), and the Company. The Investor was given a meaningful opportunity to negotiate the terms of the Notes Offering on behalf of itself and each Account. 

 

	 	(t)	 The Investor confirms that, on or prior to the Closing Date, it (on behalf of itself and each Account) will
have the funds available to it to pay the full amount referred to in this Subscription Agreement and will arrange for a bank transfer of an amount equal to the Cash Purchase Price to be made to the Company’s bank account in accordance with the
terms of this Subscription Agreement. 

  

	 	(u)	 The Investor and each Account acknowledges the Company intends to pay a placement agent fee to the Placement
Agent in respect of the Notes Offering. Other than the Placement Agent, no broker, finder or other financial consultant has acted on the Investor or each Account’s behalf in connection with this Subscription Agreement or the transactions
contemplated hereby in such a way as to create any liability on the Company. 

  

	 	(v)	 The Investor will, for itself and on behalf of each Account, upon request, execute and deliver any additional
documents, information or certifications reasonably requested by the Company or the Notes Trustee to complete the Notes Offering. 

  

	 	(w)	 The Investor and each Account understands that, unless the Investor notifies the Company in writing to the
contrary before the Closing, each of the Investor’s representations and warranties contained in this Subscription Agreement will be deemed to have been reaffirmed and confirmed as of the Closing, taking into account all information received by
the Investor. 

  
 8 

	 	(x)	 The Investor acknowledges that it and each Account had a sufficient amount of time to consider whether to
participate in the Notes Offering and that neither the Company nor the Placement Agent has placed any pressure on the Investor or any Account to respond to the opportunity to participate in the Notes Offering. The Investor acknowledges that neither
it nor any Account became aware of the Notes Offering through any form of general solicitation or advertising within the meaning of Rule 502 under the Securities Act. 

 

	 	(y)	 The operations of the Investor and each Account have been conducted in material compliance with the rules and
regulations administered or conducted by the United States Department of Treasury Office of Foreign Assets Control (“OFAC”) applicable to the Investor. The Investor has performed due diligence necessary to reasonably determine that
its and each Account’s beneficial owners are not named on the lists of denied parties or blocked persons administered by OFAC, resident in or organized under the laws of a country that is the subject of comprehensive economic sanctions and
embargoes administered or conducted by OFAC (“Sanctions”) or otherwise the subject of Sanctions. 

  

	 	(z)	 By execution and delivery of this Subscription Agreement, the Investor: 

 

	 	i.	 understands and accepts the terms and conditions of this Subscription Agreement (subject to the satisfaction of
the conditions set out in Section 6), including without limitation that the obligations accepted by the Investor pursuant to its counter-signature and return of this Subscription Agreement, are irrevocable and are not
capable of termination or rescission by the Investor; and 

  

	 	ii.	 will be deemed to have made the representations and warranties contained in Exhibit D hereto for the benefit of
the Placement Agent. 

  

	 	6.	 Conditions to Obligations of the Investor and the Company. The obligations of the Investor to deliver,
or to cause the Accounts to deliver, the Cash Purchase Price and of the Company to deliver the Notes are subject to: 

  

	 	(a)	 the satisfaction at or prior to the Closing of the condition precedent that the representations and warranties
of the Company on the one hand, and of the Investor on the other, contained in Sections 4 and 5, respectively, shall be true and correct as of the Closing in all material respects with the same effect as though such representations and
warranties had been made as of the Closing. 

  

	 	(b)	 solely as to the obligations of the Investor and the Accounts, (i) the Resale Registration Rights
Agreement shall have been duly executed and delivered to the Investor by the Company, (ii) the Indenture shall have been duly executed and delivered by the Company and the Trustee and (iii) there shall have been no amendment, waiver or
modification to any Other Subscription Agreements that materially benefits any Other Investor thereunder unless the Investor has been offered the same benefits. 

 

	 	7.	 Covenant and Acknowledgment of the Company. At or prior to 8:00 a.m., New York City time, on the first
business day after the date hereof, the Company shall issue a press release and file a Form 6-K announcing the Notes Offering (collectively, the “Disclosure Document”), which press release and
Form 6-K the Company acknowledges and agrees will disclose all confidential information (as described in the confirmatory email received by the Investor from the Placement Agent) to the extent the Company
believes such confidential information constitutes material non-public information, if any, with respect to the Notes Offering or otherwise communicated by the Company to the Investor in connection with the
Notes Offering. Upon the issuance of the Disclosure Document, to the actual knowledge of the Company, the Investor shall not be in possession of any material, non-public information received from the Company
or any of its officers, directors, employees or agents, and the Investor shall no longer be subject to any confidentiality or similar obligations under any current agreement, whether written or oral, with the Company or any of its

  
 9 

	 	
affiliates, relating to the transactions contemplated by this Subscription Agreement. Notwithstanding anything in this Subscription Agreement to the contrary, the Company shall not, without the
prior written consent of the Investor, publicly disclose the name of the Investor or any of its affiliates or advisers, or include the name of the Investor or any of its affiliates or advisers (i) in any press release or marketing materials or
(ii) in any filing with the SEC or any regulatory agency or trading market, except as required by applicable law, rule, regulation or legal process, in which case the Company will provide the Investor with prior written notice of such
disclosure. 

  

	 	8.	 Covenant of the Investor. No later than one (1) business day after the date hereof, the Investor
agrees to deliver its settlement instructions for each Account to the Company substantially in the form of Exhibit C hereto. 

  

	 	9.	 Issue Commitment. By completing and counter-signing this Subscription Agreement where indicated and
returning it to the Company, the Investor will be deemed to have accepted the terms and conditions of this Subscription Agreement and to have agreed as a legally binding obligation to purchase (subject to satisfaction of the conditions set out in
Section 6) the Purchased Notes and to pay to the Company the Cash Purchase Price, and the Investor’s acceptance is not capable of termination or rescission by the Investor. 

 

	 	10.	 Waiver, Amendment. Neither this Subscription Agreement nor any provisions hereof shall be modified,
changed, discharged or terminated except by an instrument in writing, signed by the party against whom any waiver, change, discharge or termination is sought. 

 

	 	11.	 Assignability. Neither this Subscription Agreement nor any right, remedy, obligation or liability
arising hereunder or by reason hereof shall be assignable by the Company or the Investor without the prior written consent of the other party. 

  

	 	12.	 Taxation. 

  

	 	(a)	 The Investor acknowledges and agrees that it will provide the Company or its agents with any correct, complete
and accurate information or documentation that may be required, and will timely furnish the Company or its agents with any tax forms or certifications, properly completed and signed, where applicable (including, without limitation, IRS Form W-9, an applicable IRS Form W-8 (together with all applicable attachments) or any successors to such IRS forms) that the Company or its agents reasonably request from time to
time, in each case, in order to (i) make payments to the beneficial owner without, or at a reduced rate of, withholding, (ii) qualify for a reduced rate of withholding in any jurisdiction from or through which payments are made or received
and (iii) satisfy reporting and other obligations under applicable law or regulation, including (A) the Cayman Islands Tax Information Authority Act (as amended), and together with any rules, regulations and guidance notes made pursuant
thereto (the “Cayman FATCA Legislation”), (B) the Organization for Economic Cooperation and Development’s Standard for Automatic Exchange of Financial Account Information – Common Reporting Standard (the
“CRS”) as implemented by the Cayman Islands (the “Cayman CRS”) and (C) Sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended (the “Code”), any current or future
regulations or official interpretations thereof, any agreement entered into pursuant to Section 1471(b) of the Code, or any U.S. or non-U.S. fiscal or regulatory legislation, rules, guidelines or
practices adopted pursuant to any intergovernmental agreement entered into in connection with the implementation of such sections of the Code or analogous provisions of non-U.S. law (collectively,
“FATCA”). 

  

	 	(b)	 The Company agrees to consider in good faith taking the position that the Conversion Rate adjustment set forth
in Section 5.05(A)(vi) of the Indenture, if it occurs, is not a taxable event for U.S. federal income tax purposes, it being understood that such determination will be made by the Company in its sole and absolute discretion.

  

	 	13.	 Waiver of Jury Trial. THE COMPANY AND THE INVESTOR (ON BEHALF OF ITSELF AND EACH ACCOUNT) IRREVOCABLY
WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY WITH RESPECT TO ANY LEGAL PROCEEDING ARISING OUT OF THE TRANSACTIONS CONTEMPLATED BY THIS SUBSCRIPTION AGREEMENT. 

  
 10 

	 	14.	 Governing Law. THIS SUBSCRIPTION AGREEMENT SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK
WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES THAT WOULD RESULT IN THE APPLICATION OF ANY LAW OTHER THAN THE LAW OF THE STATE OF NEW YORK. 

  

	 	15.	 Submission to Jurisdiction. Each of the Company and the Investor (for itself and on behalf of each
Account) (a) agrees that any legal suit, action or proceeding arising out of or relating to this Subscription Agreement or the transactions contemplated hereby shall be instituted exclusively in the courts of the State of New York located in
the City and County of New York or in the United States District Court for the Southern District of New York or, if that court does not have subject matter jurisdiction, in any state court located in the City and County of New York and the Company
agrees to submit to the jurisdiction of, and to venue in, such courts and (b) irrevocably consents to the jurisdiction of the aforesaid courts in any such suit, action or proceeding. Each of the Company and the Investor (for itself and on
behalf of each Account) agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Each of the Company and the Investor
hereto irrevocably waives any immunity to jurisdiction to which it may be entitled or become entitled (including without limitation sovereign immunity, immunity to pre-award attachment, post-award attachment
or otherwise) in any proceedings or enforcement proceedings against it arising out of or based on this Subscription Agreement or the transactions contemplated hereby. 

 

	 	16.	 Venue. Each of the Company and the Investor (for itself and on behalf of each Account) irrevocably and
unconditionally waives, to the fullest extent it may legally and effectively do so, any objection that it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Subscription Agreement in
any court referred to in Section 15. Each of the Company and the Investor (for itself and on behalf of each Account) irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the
maintenance of such action or proceeding in any such court. 

  

	 	17.	 Service of Process. In connection with this Subscription Agreement, the Company has irrevocably
appointed LumiraDx Inc., 221 Crescent St., Waltham, Massachusetts 02453, as its authorized agent upon which process may be served in any such suit or proceeding, and the Company agrees that service of process upon such agent, and written notice of
said service to the Company by the person serving the same to the address provided in Section 20, shall be deemed in every respect effective service of process upon the Company in any such suit or proceeding. The Investor
(for itself and on behalf of each Account) irrevocably consents to service of process in the manner provided for notices in Section 20. Nothing in this Subscription Agreement will affect the right of any party to this
Subscription Agreement to serve process in any other manner permitted by law. 

  

	 	18.	 Section and Other Headings. The section and other headings contained in this Subscription Agreement are
for reference purposes only and shall not affect the meaning or interpretation of this Subscription Agreement. 

  

	 	19.	 Counterparts. This Subscription Agreement may be executed by one or more of the parties hereto in any
number of separate counterparts (including by facsimile or other electronic means, including telecopy, email or otherwise), and all of said counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of an
executed signature page of this Subscription Agreement by facsimile or other transmission (e.g., “pdf” or “tif” format) shall be effective as delivery of a manually executed counterpart hereof. 

  
 11 

	 	20.	 Notices. All notices and other communications to the Company provided for herein shall be in writing and
shall be deemed to have been duly given (i) if delivered personally or sent by registered or certified mail, return receipt requested, postage prepaid to the addresses below, (ii) in the case of the Investor or any Account, the address
provided in Exhibit C (or such other address as either party shall have specified by notice in writing to the other) or (iii) if delivered by email, so long as the sender does not receive an automatically generated notice of delivery
failure: 

  

			
	If to the Company:	  	 LumiraDx Limited
 c/o Ocorian Trust (Cayman)
Limited
 PO Box 1350, Windward 3, Regatta Office Park
 Grand
Cayman KY1-1108 Cayman Islands
 Attention: Dorian LeBlanc and Veronique Ameye

Email:

		
	In each case, with a copy to 
(which shall not constitute 
notice):	  	 Fried, Frank, Harris, Shriver & Jacobson (London) LLP

100 Bishopsgate
 London, EC2N 4AG

United Kingdom
 Attention: Ian Lopez

Email:

		
	and to:	  	 Goodwin Procter LLP
 100 Northern Avenue

Boston, MA 02210
 Attention: James Barri

Email:

  

	 	21.	 Binding Effect. The provisions of this Subscription Agreement shall be binding upon and accrue to the
benefit of the parties hereto and their respective heirs, legal representatives, successors and permitted assigns. 

  

	 	22.	 Notification of Changes. Each of the Company and the Investor (for itself and on behalf of each Account)
hereby covenants and agrees to notify the Investor and the Company, respectively, upon the occurrence of any event prior to the Closing that would cause any of its representations, warranties or covenants contained in this Subscription Agreement to
be false or incorrect in any material respect; provided that, in making such notice, the Company shall not provide any material non-public information to the Investor without the Investor’s prior
written consent. 

  

	 	23.	 Reliance by Placement Agent. The Placement Agent may rely on each representations and warranties of the
Company and the Investor made herein or pursuant to the terms hereof (including, without limitation, in any officer’s certificate delivered pursuant to the terms hereof) with the same force and effect as if such representation or warranty were
made directly to the Placement Agent. The Placement Agent shall be a third-party beneficiary to this Subscription Agreement to the extent provided in this Section 23. 

 

	 	24.	 Severability. If any term or provision (in whole or in part) of this Subscription Agreement is invalid,
illegal or unenforceable in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other term or provision of this Subscription Agreement or invalidate or render unenforceable such term or provision in any other
jurisdiction. 

 [Signature Pages Follow] 

  
 12 

 IN WITNESS WHEREOF, the Investor has executed this Subscription Agreement as of the date first written
above. 
  

			
	The Investor:
		
	By	 	  

		 	Name:
		 	Title:
		 	Legal Name of Investor:

  
 [Signature Page to
Subscription Agreement] 

 ACCEPTED AND AGREED: 

 

			
	 LumiraDx Limited
 as the
Company

		
	By	 	  

		 	Name:
		 	Title:

  
 [Signature Page to
Subscription Agreement] 

 EXHIBIT A TO THE SUBSCRIPTION AGREEMENT 

Participating Accounts, Allocation of Aggregate Principal Amount of Notes and Cash Purchase Price: 

 

									
	 Name of Subscribing Holder
	  	Aggregate Principal Amount of
Notes	 	  	Purchase Price
	 
		  				  			
		  				  			
		  				  			
		  				  			
		  				  			
		  				  			
	 Total (the “Cash Purchase Price”):
	  				  			

 EXHIBIT B TO THE SUBSCRIPTION AGREEMENT 

NOTICE OF SUBSCRIPTION PROCEDURES 

 EXHIBIT C TO THE SUBSCRIPTION AGREEMENT 

Investor Settlement Details 
 These
settlement instructions are to be delivered to the Company no later than one (1) business day after the date of the Subscription Agreement. 
  

					
	Name of Investor:	 	  
	  	
			
	Investor Address:	 		  	
		
	  
	  	
		
	  
	  	
		
	  
	  	
			
	Telephone:	 	  
	  	
			
	Email Address:	 	  
	  	
			
	Country of Residence:	 		  	
			
	Taxpayer Identification Number:	 	  
	  	
			
	Settlement Contact Name:	 	  
	  	
			
	Jurisdiction of Organization:	 	  
	  	

  

			
	DTC Participant Information for Delivery of Notes
		
	DTC Participant Number:	 	  

		
	DTC Participant Name:	 	  

		
	DTC Participant Phone Number:	 	  

		
	DTC Participant Contact Email:	 	  

		
	FFC Account #:	 	  

		
	Account # at Bank/Broker:	 	  

 EXHIBIT D TO THE SUBSCRIPTION AGREEMENT 

Non-Reliance Letter 

In connection with the Notes Offering, we represent, warrant, agree and acknowledge as follows, for ourselves and on behalf of each of the other beneficial
owners listed under that certain Subscription Agreement, dated as of the date hereof, between ourselves and the Company, for whom we hold contractual and investment authority, if any: 

1.    No disclosure or offering document has been prepared in connection with the Notes Offering by J. Wood Capital Advisors LLC or any of
its affiliates (“J. Wood”). 
 2.    (a) We have conducted our own investigation of the Company and the Notes and we
have not relied on any statements or other information provided by J. Wood concerning the Company, the Notes or the Notes Offering, (b) we have had access to, and an adequate opportunity to review, financial and other information as we deem
necessary to make our decision to subscribe to the Notes Offering, (c) we have been offered the opportunity to ask questions of the Company and received answers thereto, as we deemed necessary in connection with our decision to subscribe to the
Notes Offering, and (d) we have made our own assessment and have satisfied ourselves concerning the relevant tax and other economic considerations relevant to our investment in the Notes. 

3.    J. Wood and its directors, officers, employees, representatives and controlling persons have made no independent investigation with
respect to the Company or the Notes or the accuracy, completeness or adequacy of any information supplied to us by the Company. 

4.    In connection with the Notes Offering, J. Wood has not acted as our financial advisor or fiduciary. 

5.    We are (x) a qualified institutional buyer (as defined in Rule 144A under the Securities Act of 1933, as amended (the
“Securities Act”)) and (y) an accredited investor (as defined in Rule 501 of Regulation D under the Securities Act) and, in the case of (y), either (i) an institutional account as defined in FINRA Rule 4512(c) or
(ii) a qualified purchaser, as defined in Section 2(a)(51)(A) of the Investment Company Act, as amended. Accordingly, we understand that the Notes Offering meets the exemptions from filing under FINRA Rules 5123(b)(1)(A), (B), (C) or (J).
We are aware that the issuance and delivery to us of the Notes are being made in reliance on a private placement exemption from registration under the Securities Act and are acquiring the Notes for our own account or for an account over which we
exercise sole discretion for another qualified institutional buyer or accredited investor. 
 6.    We are able to fend for ourselves in
the transactions contemplated herein, have such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of our prospective investment in the Notes and have the ability to bear the economic risks
of our prospective investment and can afford the complete loss of such investment. 
 7.    The Notes have not been registered under the
Securities Act or any other applicable securities laws, are being offered for resale in transactions not requiring registration under the Securities Act and, unless so registered, may not be offered, sold or otherwise transferred except in
compliance with the registration requirements of the Securities Act or any other applicable securities laws, pursuant to any exemption therefrom or in a transaction not subject thereto. 

8.    The terms of the Notes Offering have been mutually negotiated between ourselves and the Company. We were given a meaningful
opportunity to negotiate the terms of the Notes Offering. 

 EXHIBIT E TO THE SUBSCRIPTION AGREEMENT 

Form of IndentureDocument

Exhibit 10.15
PLANET FITNESS, INC. 
AMENDED AND RESTATED
2015 OMNIBUS INCENTIVE PLAN 
1.DEFINED TERMS 
Exhibit A, which is incorporated by reference, defines the terms used in the Plan and sets forth certain operational rules related to those terms.   
2.PURPOSE 
The Plan has been established to advance the interests of the Company by providing for the grant to Participants of Stock, Stock-based and other incentive Awards. 
3.ADMINISTRATION 
The Administrator has discretionary authority to interpret the Plan; determine eligibility for and grant Awards; determine, modify or waive the terms and conditions of any Award; determine the form of settlement of Awards (whether in cash, shares of Stock or other property); prescribe forms, rules and procedures relating to the Plan; and otherwise do all things necessary or appropriate to carry out the purposes of the Plan.  Determinations of the Administrator made under the Plan will be conclusive and will bind all parties. 
4.LIMITS ON AWARDS UNDER THE PLAN 
a.Number of Shares.  Subject to adjustment as provided in Section 7, the maximum number of shares of Stock that may be delivered in satisfaction of Awards under the Plan is 7,896,800 shares.  Up to the total number of shares available for Awards to employee Participants may be issued in satisfaction of ISOs, but nothing in this Section 4(a) will be construed as requiring that any, or any fixed number of, ISOs be awarded under the Plan.  The limits set forth in this Section 4(a) shall be construed to comply with Section 422.  For purposes of this Section 4(a), the number of shares of Stock delivered in satisfaction of Awards will be determined net of shares of Stock withheld by the Company in payment of the exercise price or purchase price of the Award or in satisfaction of tax withholding requirements with respect to the Award and, for the avoidance of doubt, without including any shares of Stock underlying Awards settled in cash or that otherwise expire or become unexercisable without having been exercised or that are forfeited to or repurchased by the Company due to failure to vest.  To the extent consistent with the requirements of Section 422 and the regulations thereunder, and with other applicable legal requirements (including applicable stock exchange requirements), Stock issued under awards of an acquired company that are converted, replaced or adjusted in connection with the acquisition shall not reduce the number of shares of Stock available for Awards under the Plan.  
b.Type of Shares.  Stock delivered by the Company under the Plan may be authorized but unissued Stock or previously issued Stock acquired by the Company.  No fractional shares of Stock will be delivered under the Plan. 
c.Individual Limits.  The following additional limits will apply to Awards of the specified type granted or, in the case of Cash Awards, payable to any person in any calendar year: 
1.Stock Options: 1,000,000 shares of Stock.  
2.SARs: 1,000,000 shares of Stock. 
3.Awards other than Stock Options, SARs or Cash Awards: 800,000 shares of Stock.
4.Cash Awards: $5,000,000. 
In applying the foregoing limits, (i) all Awards of the specified type granted to the same person in the same calendar year will be aggregated and made subject to one limit; (ii) the limits applicable to Stock Options and SARs refer to the number of shares of Stock subject to those Awards; (iii) the share limit under clause (3) refers to the maximum number of shares of Stock that may be delivered, or the value of which could be paid in cash or other property, under an Award or Awards of the type specified in clause (3) assuming a maximum payout; and (iv) the dollar limit 

under clause (4) refers to the maximum dollar amount payable under an Award or Awards of the type specified in clause (4) assuming a maximum payout.  
d.Non-Employee Director Limits.  In the case of a Director, additional limits shall apply such that the maximum grant-date fair value of Stock-denominated Awards granted in any calendar year during any part of which the Director is then eligible under the Plan shall be $500,000, except that such limit for a non-employee Chairman of the Board or lead Director shall be $700,000, in each case, computed in accordance with FASB ASC Topic 718 (or any successor provision).  The foregoing additional limits related to Directors shall not apply to any Award or shares of Stock granted pursuant to a Director’s election to receive an Award or shares of Stock in lieu of cash retainers or other fees (to the extent such Award or shares of Stock have a fair value equal to the value of such cash retainers or other fees).   
5.ELIGIBILITY AND PARTICIPATION 
The Administrator will select Participants from among key Employees and directors of, and consultants and advisors to, the Company and its Affiliates.  Eligibility for ISOs is limited to individuals described in the first sentence of this Section 5 who are employees of the Company or of a “parent corporation” or “subsidiary corporation” of the Company as those terms are defined in Section 424 of the Code.  Eligibility for Cash Awards is limited to individuals who are Employees.  Eligibility for Stock Options other than ISOs is limited to individuals described in the first sentence of this Section 5 who are providing direct services on the date of grant of the Stock Option to the Company or to a subsidiary of the Company that would be described in the first sentence of Section 1.409A-1(b)(5)(iii)(E) of the Treasury Regulations. 
6.RULES APPLICABLE TO AWARDS 
a.All Awards. 
1.Award Provisions.  The Administrator will determine the terms of all Awards, subject to the limitations provided herein.  By accepting (or, under such rules as the Administrator may prescribe, being deemed to have accepted) an Award, the Participant will be deemed to have agreed to the terms of the Award and the Plan.  Notwithstanding any provision of this Plan to the contrary, awards of an acquired company that are converted, replaced or adjusted in connection with the acquisition may contain terms and conditions that are inconsistent with the terms and conditions specified herein, as determined by the Administrator. 
2.Term of Plan.  No Awards may be made after ten years from the Date of Adoption, but previously granted Awards may continue beyond that date in accordance with their terms.  
3.Transferability.  Neither ISOs nor, except as the Administrator otherwise expressly provides in accordance with the last sentence of this Section 6(a)(3), other Awards may be transferred other than by will or by the laws of descent and distribution.  During a Participant’s lifetime, ISOs (and, except as the Administrator otherwise expressly provides in accordance with the last sentence of this Section 6(a)(3), SARs and NSOs) may be exercised only by the Participant.  The Administrator may permit the gratuitous transfer (i.e., transfer not for value) of Awards other than ISOs to any transferee eligible to be covered by the provisions of Form S-8 (under the Securities Act of 1933, as amended), subject to such limitations as the Administrator may impose. 
4.Vesting, etc.  The Administrator will determine the time or times at which an Award will vest or become exercisable and the terms on which a Stock Option or SAR will remain exercisable.  Without limiting the foregoing, the Administrator may at any time accelerate the vesting or exercisability of an Award, regardless of any adverse or potentially adverse tax or other consequences resulting from such acceleration.  Unless the Administrator expressly provides otherwise, however, the following rules will apply if a Participant’s Employment ceases:
a.Immediately upon the cessation of the Participant’s Employment and except as provided in (B) and (C) below, each Stock Option and SAR that is then held by the Participant or by the Participant’s permitted transferees, if any, will cease to be exercisable and will terminate and all other Awards that are then held by the Participant or by the Participant’s permitted transferees, if any, to the extent not already vested will be forfeited. 

b.Subject to (C) and (D) below, all Stock Options and SARs held by the Participant or the Participant’s permitted transferees, if any, immediately prior to the cessation of the Participant’s Employment, to the extent then exercisable, will remain exercisable for the lesser of (i) a period of three months or (ii) the period ending on the latest date on which such Stock Option or SAR could have been exercised without regard to this Section 6(a)(4), and will thereupon immediately terminate. 
c.Subject to (D) below, all Stock Options and SARs held by a Participant or the Participant’s permitted transferees, if any, immediately prior to the cessation of the Participant’s Employment due to his or her death or due to the termination of the Participant’s Employment by the Company due to his or her Disability, to the extent then exercisable, will remain exercisable for the lesser of (i) a period of twelve (12) months or (ii) the period ending on the latest date on which such Stock Option or SAR could have been exercised without regard to this Section 6(a)(4), and will thereupon immediately terminate. 
d.All Stock Options and SARs (whether or not exercisable) held by a Participant or the Participant’s permitted transferees, if any, immediately prior to the cessation of the Participant’s Employment will immediately terminate upon such cessation of Employment if the termination is for Cause or occurs in circumstances that in the sole determination of the Administrator would have constituted grounds for the Participant’s Employment to be terminated for Cause. 
5.Additional Restrictions.  The Administrator may cancel, rescind, withhold or otherwise limit or restrict any Award at any time, and may provide that any proceeds from the exercise or disposition of any Award or Stock acquired under any Award, and any other amounts received in respect of any Award or Stock acquired under any Award will be subject to forfeiture and disgorgement to the Company, with interest and other related earnings, if the Participant is not in compliance with all applicable provisions of the Award agreement and the Plan, or if the Participant breaches any agreement with the Company or its Affiliates with respect to noncompetition, non-solicitation, no-hire, non-disparagement, invention assignment, confidentiality or other restrictive covenant by which the Participant is bound.  Without limiting the generality of the foregoing, the Administrator may recover Awards made under the Plan and payments or shares of Stock delivered under or gain in respect of any Award in accordance with any applicable Company clawback or recoupment policy, as such policy may be amended and in effect from time to time, or as otherwise required by applicable law or applicable stock exchange listing standards, including, without limitation, Section 10D of the Securities Exchange Act of 1934, as amended.  In addition, each Award will be subject to any policy of the Company or any of its subsidiaries that relates to trading on non-public information and permitted transactions with respect to shares of Stock, including limitations on hedging and pledging.  Each Participant, by accepting or being deemed to have accepted an Award under the Plan, agrees (or will be deemed to have agreed) to the terms of this Section 6(a)(5) and to any clawback, recoupment or similar policy of the Company or any of its subsidiaries and further agrees (or will be deemed to have further agreed) to cooperate fully with the Administrator, and to cause any and all permitted transferees of the Participant to cooperate fully with the Administrator, to effectuate any forfeiture or disgorgement described in this Section 6(a)(5).  Neither the Administrator nor the Company nor any other person, other than the Participant and his or her permitted transferees, if any, will be responsible for any adverse tax or other consequences to a Participant or his or her permitted transferees, if any, that may arise in connection with this Section 6(a)(5).
6.Taxes.  The grant of an Award and the issuance, delivery, vesting and retention of Stock, cash or other property under an Award are conditioned upon full satisfaction by the Participant of all tax and other withholding requirements with respect to the Award.  The Administrator will prescribe such rules for the withholding of taxes and other amounts with respect to any Award as it deems necessary.  Each Participant agrees to promptly remit to the Company or an Affiliate, in cash, the full amount of all taxes required to be withheld in connection with an Award unless the Administrator, in its sole discretion, provides alternative means for satisfying the Company’s tax withholding requirements.  The Administrator may, but need not, hold back shares of Stock from an Award or permit a Participant to tender previously owned shares of Stock in satisfaction of tax or other withholding requirements (but not in excess of the minimum withholding required by law or such greater amount that would not result in adverse accounting 

consequences to the Company in the discretion of the Administrator).  Any amounts withheld pursuant to this Section 6(a)(6) will be treated as though such amounts had been paid directly to the Participant.  In addition, the Company may, to the extent permitted by law, deduct any such tax and other withholding amounts from any payment of any kind otherwise due to a Participant from the Company or any parent or subsidiary of the Company
7.Dividend Equivalents, etc.  The Administrator may provide for the payment of amounts (on terms and subject to conditions established by the Administrator) in lieu of cash dividends or other cash distributions with respect to Stock subject to an Award whether or not the holder of such Award is otherwise entitled to share in the actual dividend or distribution in respect of such Award.  Dividends or dividend equivalent amounts payable in respect of Awards that are subject to restrictions may be subject to such limits or restrictions as the Administrator may impose.  
8.Rights Limited.  Nothing in the Plan will be construed as giving any person the right to continued employment or service with the Company or its Affiliates, or any rights as a stockholder except as to shares of Stock actually issued under the Plan.  The loss of existing or potential profit in Awards will not constitute an element of damages in the event of a termination of Employment for any reason, even if the termination is in violation of an obligation of the Company or any Affiliate to the Participant. 
9.Coordination with Other Plans.  Awards under the Plan may be granted in tandem with, or in satisfaction of or substitution for, other Awards under the Plan or awards made under other compensatory plans or programs of the Company or its Affiliates.  For example, but without limiting the generality of the foregoing, awards under other compensatory plans or programs of the Company or its Affiliates may be settled in Stock (including, without limitation, Unrestricted Stock) if the Administrator so determines, in which case the shares delivered will be treated as awarded under the Plan (and will reduce the number of shares thereafter available under the Plan in accordance with the rules set forth in Section 4). 
10.Section 409A.  
a.Each Award will contain such terms as the Administrator determines, and will be construed and administered, such that the Award either qualifies for an exemption from the requirements of Section 409A or satisfies such requirements.
b.Notwithstanding anything to the contrary in the Plan or any Award agreement, the Administrator may unilaterally amend, modify or terminate the Plan or any outstanding Award, including, without limitation, changing the form of the Award, if the Administrator determines that such amendment, modification or termination is necessary or desirable to avoid the imposition of an additional tax, interest or penalty under Section 409A.
c.If a Participant is determined on the date of the Participant’s termination of Employment to be a “specified employee” within the meaning of that term under Section 409A(a)(2)(B) of the Code, then, with regard to any payment that is considered nonqualified deferred compensation under Section 409A, to the extent applicable, payable on account of a “separation from service”, such payment will be made or provided on the date that is the earlier of (i) the first business day following the expiration of the six-month period measured from the date of such “separation from service” and (ii) the date of the Participant’s death (the “Delay Period”).  Upon the expiration of the Delay Period, all payments delayed pursuant to this Section 6(a)(10)(C) (whether they would have otherwise been payable in a single lump sum or in installments in the absence of such delay) will be paid, without interest, on the first business day following the expiration of the Delay Period in a lump sum and any remaining payments due under the Award will be paid in accordance with the normal payment dates specified for them in the applicable Award agreement.
d.For purposes of Section 409A, each payment made under the Plan or any Award will be treated as a separate payment.   
e.With regard to any payment considered to be nonqualified deferred compensation under Section 409A, to the extent applicable, that is payable upon a change in control of the Company or other similar event, to the extent required to avoid the imposition of an additional tax, interest or 

penalty under Section 409A, no amount will be payable unless such change in control constitutes a “change in control event” within the meaning of Section 1.409A-3(i)(5) of the Treasury Regulations.

b.Stock Options and SARs. 
1.Time and Manner of Exercise.  Unless the Administrator expressly provides otherwise, no Stock Option or SAR will be deemed to have been exercised until the Administrator receives a notice of exercise (in form acceptable to the Administrator), which if the Administrator so determines may be an electronic notice, signed (including electronic signature in form acceptable to the Administrator) by the appropriate person and accompanied by any payment required under the Award.  A Stock Option or SAR exercised by any person other than the Participant will not be deemed to have been exercised until the Administrator has received such evidence as it may require that the person exercising the Award has the right to do so.  The Administrator may impose conditions on the exercisability of Awards, including limitations on the time periods during which Awards may be exercised or settled. 
2.Exercise Price.  The exercise price (or the base value from which appreciation is to be measured) of each Stock Option or SAR will be no less than 100% (or in the case of an ISO granted to a ten-percent shareholder within the meaning of subsection (b)(6) of Section 422, 110%) of the Fair Market Value of the Stock subject to the Award, determined as of the date of grant, or such higher amount as the Administrator may determine in connection with the grant.  Except in connection with a corporate transaction involving the Company (which term shall include, without limitation, any stock dividend, stock split, extraordinary cash dividend, recapitalization, reorganization, merger, consolidation, split-up, spin-off, combination, or exchange of shares) or as otherwise contemplated by Section 7 of the Plan, the terms of outstanding Stock Options or SARs, as applicable, may not be amended to reduce the exercise prices of such Stock Options or the base values from which appreciation under such SARs are to be measured other than in accordance with the stockholder approval requirements of the New York Stock Exchange. 
3.Payment of Exercise Price.  Where the exercise of an Award is to be accompanied by payment, payment of the exercise price will be by cash or check acceptable to the Administrator or by such other legally permissible means, if any, as may be acceptable to the Administrator. 
4.Maximum Term.  Stock Options and SARs will have a maximum term not to exceed ten (10) years from the date of grant (or five (5) years from the date of grant in the case of an ISO granted to a ten-percent shareholder described in Section 6(b)(2) above). 

7.EFFECT OF CERTAIN TRANSACTIONS 
a.Mergers, etc.  Except as otherwise provided in an Award agreement, the following provisions will apply in the event of a Covered Transaction:
1.Assumption or Substitution.  If the Covered Transaction is one in which there is an acquiring or surviving entity, the Administrator may (but, for the avoidance of doubt, need not) provide (i) for the assumption or continuation of some or all outstanding Awards or any portion thereof or (ii) for the grant of new awards in substitution therefor by the acquiror or survivor or an affiliate of the acquiror or survivor.
2.Cash-Out of Awards.  Subject to Section 7(a)(5) below, the Administrator may (but, for the avoidance of doubt, need not) provide for payment (a “cash-out”), with respect to some or all Awards or any portion thereof, equal in the case of each affected Award or portion thereof to the excess, if any, of (A) the Fair Market Value of one share of Stock times the number of shares of Stock subject to the Award or such portion, over (B) the aggregate exercise or purchase price, if any, under the Award or such portion (in the case of an SAR, the aggregate base value above which appreciation is measured), in each case on such payment terms (which need not be the same as the terms of payment to holders of Stock) and other terms, and subject to such conditions, as the Administrator determines; it being understood that if the exercise or 

purchase price (or base value) of an Award is equal to or greater than the Fair Market Value of one share of Stock, the Award may be cancelled with no payment due hereunder. 
3.Acceleration of Certain Awards.  Subject to Section 7(a)(5) below, the Administrator may (but, for the avoidance of doubt, need not) provide that any Award requiring exercise will become exercisable, in full or in part and/or that the delivery of any shares of Stock remaining deliverable under any outstanding Award of Stock Units (including Restricted Stock Units and Performance Awards to the extent consisting of Stock Units) will be accelerated in full or in part, in each case on a basis that gives the holder of the Award a reasonable opportunity, as determined by the Administrator, following exercise of the Award or the delivery of the shares, as the case may be, to participate as a stockholder in the Covered Transaction. 
4.Termination of Awards Upon Consummation of Covered Transaction.  Except as the Administrator may otherwise determine in any case, each Award will automatically terminate (and in the case of outstanding shares of Restricted Stock, will automatically be forfeited) upon consummation of the Covered Transaction, other than Awards assumed pursuant to Section 7(a)(1) above. 
5.Additional Limitations.  Any share of Stock and any cash or other property delivered pursuant to Section 7(a)(2) or Section 7(a)(3) above with respect to an Award may, in the discretion of the Administrator, contain such restrictions, if any, as the Administrator deems appropriate to reflect any performance or other vesting conditions to which the Award was subject and that did not lapse (and were not satisfied) in connection with the Covered Transaction.  For purposes of the immediately preceding sentence, a cash-out under Section 7(a)(2) above or acceleration under Section 7(a)(3) above will not, in and of itself, be treated as the lapsing (or satisfaction) of a performance or other vesting condition.  In the case of Restricted Stock that does not vest and is not forfeited in connection with the Covered Transaction, the Administrator may require that any amounts delivered, exchanged or otherwise paid in respect of such Stock in connection with the Covered Transaction be placed in escrow or otherwise made subject to such restrictions as the Administrator deems appropriate to carry out the intent of the Plan.  

b.Changes in and Distributions with Respect to Stock. 
1.Basic Adjustment Provisions.  In the event of a stock dividend, stock split or combination of shares (including a reverse stock split), recapitalization or other change in the Company’s capital structure that constitutes an equity restructuring within the meaning of FASB ASC Topic 718 (or any successor provision), the Administrator will make appropriate adjustments to the maximum number of shares of Stock that may be delivered under the Plan and to the maximum limits described in Section 4(c) and will also make appropriate adjustments to the number and kind of shares of stock or securities subject to Awards then outstanding or subsequently granted, any exercise or purchase prices (or base values) relating to Awards and any other provision of Awards affected by such change. 
2.Certain Other Adjustments.  The Administrator may also make adjustments of the type described in Section 7(b)(1) above to take into account distributions to stockholders other than those provided for in Section 7(a) and 7(b)(1), or any other event, if the Administrator determines that adjustments are appropriate to avoid distortion in the operation of the Plan, having due regard for the qualification of ISOs under Section 422 and the requirements of Section 409A, where applicable. 
3.Continuing Application of Plan Terms.  References in the Plan to shares of Stock will be construed to include any stock or securities resulting from an adjustment pursuant to this Section 7. 

8.LEGAL CONDITIONS ON DELIVERY OF STOCK 
The Company will not be obligated to deliver any shares of Stock pursuant to the Plan or to remove any restriction from shares of Stock previously delivered under the Plan until: (i) the Company is satisfied that all legal matters in connection with the issuance and delivery of such shares have been addressed and resolved; (ii) if the outstanding Stock is at the time of delivery listed on any stock exchange or national market system, the shares to be delivered have been listed or authorized to be listed on such exchange or system upon official notice of issuance; and (iii) all 

conditions of the Award have been satisfied or waived.  The Company may require, as a condition to exercise of the Award, such representations or agreements as counsel for the Company may consider appropriate to avoid violation of the Securities Act of 1933, as amended, or any applicable state or non-U.S. securities law.  Any Stock required to be issued to Participants under the Plan will be evidenced in such manner as the Administrator may deem appropriate, including book-entry registration or delivery of stock certificates.  In the event that the Administrator determines that Stock certificates will be issued to Participants under the Plan, the Administrator may require that certificates evidencing Stock issued under the Plan bear an appropriate legend reflecting any restriction on transfer applicable to such Stock, and the Company may hold the certificates pending lapse of the applicable restrictions. 
9.AMENDMENT AND TERMINATION 
The Administrator may at any time or times amend the Plan or any outstanding Award for any purpose which may at the time be permitted by law, and may at any time terminate the Plan as to any future grants of Awards; provided, that, except as otherwise expressly provided in the Plan, the Administrator may not, without the Participant’s consent, alter the terms of an Award so as to affect materially and adversely the Participant’s rights under the Award, unless the Administrator expressly reserved the right to do so at the time the Award was granted.  Any amendments to the Plan will be conditioned upon stockholder approval only to the extent, if any, such approval is required by law (including the Code and applicable stock exchange requirements), as determined by the Administrator. 
10.OTHER COMPENSATION ARRANGEMENTS 
The existence of the Plan or the grant of any Award will not in any way affect the Company’s right to award a person bonuses or other compensation in addition to Awards under the Plan. 

11.MISCELLANEOUS 
a.Waiver of Jury Trial.  By accepting an Award under the Plan, to the maximum extent permitted by law, each Participant waives any right to a trial by jury in any action, proceeding or counterclaim concerning any rights under the Plan and any Award, or under any amendment, waiver, consent, instrument, document or other agreement delivered or which in the future may be delivered in connection therewith, and agrees that any such action, proceedings or counterclaim will be tried before a court and not before a jury.  By accepting an Award under the Plan, each Participant certifies that no officer, representative, or attorney of the Company has represented, expressly or otherwise, that the Company would not, in the event of any action, proceeding or counterclaim, seek to enforce the foregoing waivers.  Notwithstanding anything to the contrary in the Plan, nothing herein is to be construed as limiting the ability of the Company and a Participant to agree to submit disputes arising under the terms of the Plan or any Award made hereunder to binding arbitration or as limiting the ability of the Company to require any eligible individual to agree to submit such disputes to binding arbitration as a condition of receiving an Award hereunder.  
b.Limitation of Liability.  Notwithstanding anything to the contrary in the Plan, neither the Company, nor any Affiliate, nor the Administrator, nor any person acting on behalf of the Company, any Affiliate, or the Administrator, will be liable to any Participant or to the estate or beneficiary of any Participant or to any other holder of an Award by reason of any acceleration of income, or any additional tax (including any interest and penalties), asserted by reason of the failure of an Award to satisfy the requirements of Section 422 or Section 409A or by reason of Section 4999 of the Code, or otherwise asserted with respect to the Award.  
12.ESTABLISHMENT OF SUB-PLANS 
The Administrator may from time to time establish one or more sub-plans under the Plan for purposes of satisfying applicable blue sky, securities or tax laws of various jurisdictions.  The Administrator will establish such sub-plans by adopting supplements to the Plan setting forth (i) such limitations on the Administrator’s discretion under the Plan as it deems necessary or desirable and (ii) such additional terms and conditions not otherwise inconsistent with the Plan as it deems necessary or desirable.  All supplements so established will be deemed to be part of the Plan, but each supplement will apply only to Participants within the affected jurisdiction (as determined by the Administrator). 
13.GOVERNING LAW 

a.Certain Requirements of Corporate Law.  Awards will be granted and administered consistent with the requirements of applicable Delaware law relating to the issuance of stock and the consideration to be received therefor, and with the applicable requirements of the stock exchanges or other trading systems on which the Stock is listed or entered for trading, in each case as determined by the Administrator. 
b.Other Matters.  Except as otherwise provided by the express terms of an Award agreement, under a sub-plan described in Section 12 or as provided in Section 13(a) above, the provisions of the Plan and of Awards under the Plan and all claims or disputes arising out of or based upon the Plan or any Award under the Plan or relating to the subject matter hereof or thereof will be governed by and construed in accordance with the domestic substantive laws of the State of New Hampshire without giving effect to any choice or conflict of laws provision or rule that would cause the application of the domestic substantive laws of any other jurisdiction. 
c.Jurisdiction.  By accepting an Award, each Participant will be deemed to (a) have submitted irrevocably and unconditionally to the jurisdiction of the federal and state courts located within the geographic boundaries of the United States District Court for the District of New Hampshire for the purpose of any suit, action or other proceeding arising out of or based upon the Plan or any Award; (b) agree not to commence any suit, action or other proceeding arising out of or based upon the Plan or an Award, except in the federal and state courts located within the geographic boundaries of the United States District Court for the District of New Hampshire; and (c) waive, and agree not to assert, by way of motion as a defense or otherwise, in any such suit, action or proceeding, any claim that it is not subject personally to the jurisdiction of the above-named courts that its property is exempt or immune from attachment or execution, that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper or that the Plan or an Award or the subject matter thereof may not be enforced in or by such court.  

EXHIBIT A 
Definition of Terms 
The following terms, when used in the Plan, will have the meanings and be subject to the provisions set forth below: 
“Administrator”:  The Compensation Committee, except that the Compensation Committee may delegate (i) to one or more of its members (or one or more other members of the Board (including the full Board)) such of its duties, powers and responsibilities as it may determine; (ii) to one or more officers of the Company the power to grant Awards to the extent permitted by Section 157(c) of the Delaware General Corporate Law; and (iii) to such Employees or other persons as it determines such ministerial tasks as it deems appropriate.  In the event of any delegation described in the preceding sentence, the term “Administrator” will include the person or persons so delegated to the extent of such delegation. 
“Affiliate”:  Any corporation or other entity that stands in a relationship to the Company that would result in the Company and such corporation or other entity being treated as one employer under Section 414(b) or Section 414(c) of the Code, provided that, for purposes of determining treatment as a single employer under Section 414(b) or Section 414(c) of the Code, 
“20%” shall replace “80%” in the applicable stock or other equity ownership requirements under such sections of the Code and the regulations thereunder. 
“Award”:  Any or a combination of the following:  
a.Stock Options.  
b.SARs.   
c.Restricted Stock. 
d.Unrestricted Stock. 
e.Stock Units, including Restricted Stock Units. 
f.Performance Awards. 
g.Awards (other than Awards described in (i) through (vi) above) that are convertible into or otherwise based on Stock.  
h.Cash Awards. 
“Board”:  The Board of Directors of the Company. 
“Cash Award”:  An Award denominated in cash. 
“Cause”:  In the case of any Participant who is party to an effective employment or severance-benefit agreement with the Company or an Affiliate of the Company that contains a definition of “Cause,” the definition set forth in such agreement will apply with respect to such Participant under the Plan for so long as such agreement is in effect.  In the case of any other 
Participant, “Cause” will mean, as determined by the Administrator in its reasonable judgment, (i) a substantial failure of the Participant to perform the Participant’s duties and responsibilities to the Company or Affiliates or substantial negligence in the performance of such duties and responsibilities; (ii) the commission by the Participant of a felony or a crime involving moral turpitude; (iii) the commission by the Participant of theft, fraud, embezzlement, material breach of trust or any material act of dishonesty involving the Company or any of its Affiliates; (iv) a significant violation by the Participant of the Code of Ethics or Code of Ethics for Senior Financial & Executive Officers of the Company or its Affiliates, of any other material policy of the Company or its Affiliates or of any statutory or common law duty of loyalty to the Company or its Affiliates; (v) material breach of any of the terms of the Plan or any Award made under the Plan, or of the terms of any other agreement between the Company or Affiliates and the Participant; or (vi) other conduct by the Participant that could be expected to be harmful to the business, interests or reputation of the Company or its Affiliates. 

“Code”:  The U.S. Internal Revenue Code of 1986 as from time to time amended and in effect, or any successor statute as from time to time in effect. 
“Compensation Committee”:  The Compensation Committee of the Board. 
“Company”:  Planet Fitness, Inc. 
“Covered Transaction”:  Any of (i) a consolidation, merger, or similar transaction or series of related transactions, including a sale or other disposition of stock, in which the Company is not the surviving corporation or that results in the acquisition of all or substantially all of the Company’s then outstanding common stock by a single person or entity or by a group of persons and/or entities acting in concert, (ii) a sale or transfer of all or substantially all the Company’s assets, or (iii) a dissolution or liquidation of the Company.  Where a Covered Transaction involves a tender offer pursuant to which at least a majority of the Company’s then outstanding common stock is purchased by a single person or entity or by a group of persons and/or entities acting in concert that is reasonably expected to be followed by a merger described in clause (i) (as determined by the Administrator), the Covered Transaction shall be deemed to have occurred upon consummation of the tender offer. 
“Date of Adoption”:  The date the Plan was initially approved by the Board. 
“Director”:  A member of the Board who is not an employee. 
“Disability”: In the case of any Participant who is party to an effective employment or severance-benefit agreement with the Company or an Affiliate of the Company that contains a definition of “Disability,” the definition set forth in such agreement will apply with respect to such Participant under the Plan for so long as such agreement is in effect.  In the case of any other Participant, a permanent disability as defined in the long-term disability plan maintained by the Company or one of its Affiliates, or as defined from time to time by the Company in its sole discretion. 
“Employee”:  Any person who is employed by the Company or an Affiliate. 
“Employment”:  A Participant’s employment or other service relationship with the Company or an Affiliate.  Employment will be deemed to continue, unless the Administrator expressly provides otherwise, so long as the Participant is employed by, or otherwise is providing services in a capacity described in Section 5 to the Company or an Affiliate.  If a Participant’s employment or other service relationship is with an Affiliate and that entity ceases to be an Affiliate, the Participant’s Employment will be deemed to have terminated when the entity ceases to be an Affiliate unless the Participant transfers Employment to the Company or its remaining Affiliates.  Notwithstanding the foregoing and the definition of “Affiliate” above, in construing the provisions of any Award relating to the payment of “nonqualified deferred compensation” (subject to Section 409A) upon a termination or cessation of Employment, references to termination or cessation of employment, separation from service, retirement or similar or correlative terms will be construed to require a “separation from service” (as that term is defined in Section 1.409A-1(h) of the Treasury Regulations, after giving effect to the presumptions contained therein) from the Company and from all other corporations and trades or businesses, if any, that would be treated as a single “service recipient” with the Company under Section 1.409A-1(h)(3) of the Treasury Regulations.  The Company may, but need not, elect in writing, subject to the applicable limitations under Section 409A, any of the special elective rules prescribed in Section 1.409A-1(h) of the Treasury Regulations for purposes of determining whether a “separation from service” has occurred.  Any such written election will be deemed a part of the Plan. 
“Fair Market Value”:  As of a particular date, (i) the closing price for a share of Stock reported on the New York Stock Exchange (or any other national securities exchange on which the Stock is then listed) for that date or, if no closing price is reported for that date, the closing price on the immediately preceding date on which a closing price was reported or (ii) in the event that the Stock is not traded on a national securities exchange, the fair market value of a share of Stock determined by the Administrator consistent with the rules of Section 422 and Section 409A to the extent applicable.
“ISO”:  A Stock Option intended to be an “incentive stock option” within the meaning of Section 422.  Each Stock Option granted pursuant to the Plan will be treated as providing by its terms that it is to be an NSO unless, as of the date of grant, it is expressly designated as an ISO. 
“NSO”:  A Stock Option that is not intended to be an “incentive stock option” within the meaning of Section 422.   
“Participant”:  A person who is granted an Award under the Plan. 

“Performance Award”:  An Award subject to Performance Criteria.  
“Performance Criteria”:  Specified criteria, other than the mere continuation of Employment or the mere passage of time, the satisfaction of which is a condition for the grant, exercisability, vesting or full enjoyment of an Award.  Except as otherwise determined by the Administrator, a Performance Criterion and any targets with respect thereto may relate to any or any combination of the following (measured either absolutely or comparatively (including, without limitation, by reference to an index or indices or a specified peer group) and determined either on a consolidated basis or, as the context permits, on a divisional, subsidiary, line of business, project or geographical basis or in combinations thereof and subject to such adjustments, if any, as the Administrator specifies)): sales; revenues; assets; expenses; earnings before or after deduction for all or any portion of interest, taxes, depreciation, amortization or equity expense, whether or not on a continuing operations or an aggregate or per share basis; return on equity, investment, capital, capital employed or assets; one or more operating ratios; operating income or profit, including on an after tax basis; borrowing levels, leverage ratios or credit rating; market share; capital expenditures; cash flow; stock price; stockholder return; sales of particular products or services; same store sales; customer satisfaction; gross or net store openings, including timing of openings and achievement of growth targets with respect thereto; new store first year sales; customer acquisition or retention; acquisitions and divestitures (in whole or in part); joint ventures and strategic alliances; spin-offs, split-ups and the like; reorganizations; or recapitalizations, restructurings, financings (issuance of debt or equity) or refinancings. A Performance Criterion and any targets with respect thereto determined by the Administrator need not be based upon an increase, a positive or improved result or avoidance of loss.  The Administrator may provide that one or more of the Performance Criteria applicable to such Award will be adjusted in an objectively determinable manner to reflect events (for example, the impact of charges for restructurings, discontinued operations, mergers, acquisitions, and other unusual or infrequently occurring items, including  the cumulative effects of tax or accounting changes) occurring during the performance period that affect the applicable Performance Criterion or Criteria. 
“Plan”:  The Planet Fitness, Inc. Amended and Restated 2015 Omnibus Incentive Plan as from time to time amended and in effect. 
“Restricted Stock”:  Stock subject to restrictions requiring that it be redelivered or offered for sale to the Company if specified conditions are not satisfied. 
“Restricted Stock Unit”:  A Stock Unit that is, or as to which the delivery of Stock or cash in lieu of Stock is, subject to the satisfaction of specified performance or other vesting conditions. 
“SAR”:  A right entitling the holder upon exercise to receive an amount (payable in cash or in shares of Stock of equivalent value) equal to the excess of the Fair Market Value of the shares of Stock subject to the right over the base value from which appreciation under the SAR is to be measured. 
“Section 409A”:  Section 409A of the Code. 
“Section 422”:  Section 422 of the Code. 
“Stock”:  Class A common stock of the Company, par value $0.0001 per share. 
“Stock Option”:  An option entitling the holder to acquire shares of Stock upon payment of the exercise price. 
“Stock Unit”:  An unfunded and unsecured promise, denominated in shares of Stock, to deliver Stock or cash measured by the value of Stock in the future. 
“Unrestricted Stock”:  Stock not subject to any restrictions under the terms of the Award.

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