Document:

EX-10.1

 Exhibit 10.1 

FORM 
 of 

INDEMNITY AGREEMENT 
 THIS INDEMNITY
AGREEMENT (the “Agreement”) is made and entered into as of                     , 20    
, between             , a Delaware corporation (the “Company”),
and                     (“Indemnitee”). 

RECITALS 
 A.
Highly competent persons have become more reluctant to serve corporations as directors, or officers, or in other capacities unless they are provided with adequate protection through insurance or adequate indemnification against inordinate risks
of claims and actions against them arising out of their service to and activities on behalf of the corporation; 
 B. Although
furnishing of insurance to protect persons serving a corporation and its subsidiaries from certain liabilities has been a customary and widespread practice among United States-based corporations and other business enterprises, the Company believes
that, given current market conditions and trends, such insurance may be available to it in the future only at higher premiums and with more exclusions. At the same time, directors, officers, and other persons in service to corporations or business
enterprises are being increasingly subjected to expensive and time-consuming litigation relating to, among other things, matters that traditionally would have been brought only against the Company or the business enterprise itself. The Bylaws and
Certificate of Incorporation of the Company require indemnification of the officers and directors of the Company. Indemnitee may also be entitled to indemnification pursuant to the General Corporation Law of the State of Delaware (the
“DGCL”). The Bylaws, Certificate of Incorporation, and the DGCL expressly provide that their respective indemnification provisions are not exclusive, and contemplate that contracts may be entered into between the Company and
members of the board of directors (the “Board”), officers, and other persons with respect to indemnification; 

C. The uncertainties relating to such liability insurance and to indemnification have increased the difficulty of attracting and
retaining such persons; 
 D. The Board has determined that the increased difficulty in attracting and retaining such persons is
detrimental to the best interests of the Company’s stockholders, and that the Company should act to assure such persons that there will be increased certainty of protection in the future; 

E. It is reasonable, prudent, and necessary for the Company to contractually obligate itself to indemnify, and to advance expenses on
behalf of, such persons to the fullest extent permitted by applicable law so that they will serve or continue to serve the Company free from undue concern that they will not be so indemnified; 

F. This Agreement is a supplement to and in furtherance of the Company’s Bylaws and Certificate of Incorporation and any
resolutions adopted pursuant to such indemnification, and will not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee; 

G. Indemnitee does not regard the protection available under the Company’s Bylaws and Certificate of Incorporation and insurance
as adequate in the present circumstances, and may not be willing to serve as an officer or director without adequate protection, and the Company desires Indemnitee to serve in such capacity. Indemnitee is willing to serve, continue to serve, and to
take on additional service for or on behalf of the Company on the condition that he or she be so indemnified; and 

 H. Indemnitee may have certain rights to indemnification and insurance provided by other
entities or organizations which Indemnitee and such other entities and organizations intend to be secondary to the primary obligation of the Company to indemnify Indemnitee as provided in this Agreement, with the Company’s acknowledgement and
agreement to the foregoing being a material condition to Indemnitee’s willingness to serve on the Board. 
 I. This Agreement
supersedes and replaces in its entirety any previous indemnification agreement entered into between the Company and the Indemnitee. 
 NOW,
THEREFORE, in consideration of Indemnitee’s agreement to serve as an officer or a director from and after the date first written above, the parties agree as follows: 

1. Indemnity of Indemnitee. The Company agrees to hold harmless and indemnify Indemnitee to the fullest extent permitted by law, as
such may be amended from time to time in accordance with the terms of this Agreement. In furtherance of this indemnification, and without limiting the generality of such indemnification: 

(a) Proceedings Other Than Proceedings by or in the Right of the Company. Indemnitee will be entitled to the rights of
indemnification provided in this Section 1(a) if, by reason of his or her Corporate Status, the Indemnitee is, or is threatened to be made, a party to, or participant in, any Proceeding other than a Proceeding by or in the right of the Company.
Pursuant to this Section 1(a), Indemnitee will be indemnified against all Expenses, judgments, penalties, fines, and amounts paid in settlement actually and reasonably incurred by him or her, or on his or her behalf, in connection with such
Proceeding or any claim, issue, or matter. This indemnification is provided if the Indemnitee acted in good faith and in a manner the Indemnitee reasonably believed to be in or not opposed to the best interests of the Company, and with respect to
any criminal Proceeding, had no reasonable cause to believe the Indemnitee’s conduct was unlawful. 
 (b) Proceedings
by or in the Right of the Company. Indemnitee will be entitled to the rights of indemnification provided in this Section 1(b) if, by reason of his or her Corporate Status, the Indemnitee is, or is threatened to be made, a party to, or
participant in, any Proceeding brought by or in the right of the Company. Pursuant to this Section 1(b), Indemnitee will be indemnified against all Expenses actually and reasonably incurred by the Indemnitee, or on the Indemnitee’s behalf,
in connection with such Proceeding if the Indemnitee acted in good faith and in a manner the Indemnitee reasonably believed to be in, or not opposed to, the best interests of the Company. Indemnification will not be provided against such Expenses if
made in respect of any claim, issue, or matter in such Proceeding as to which Indemnitee will have been adjudged to be liable to the Company unless and to the extent that the Court of Chancery of the State of Delaware will determine that such
indemnification may be made. 
 (c) Indemnification for Expenses of a Party Who is Wholly or Partly Successful.
Notwithstanding any other provision of this Agreement, to the extent that Indemnitee is, by reason of his or her Corporate Status, a party to and is successful, on the merits or otherwise, in any Proceeding, he or she will be indemnified to the
maximum extent permitted by law against all Expenses actually and reasonably incurred by him or her or on his or her behalf in connection therewith. If Indemnitee is not wholly successful in such Proceeding but is successful, on the merits or
otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the Company will indemnify Indemnitee against all Expenses actually and reasonably incurred by him or her or on his or her behalf in connection with each
successfully resolved claim, issue, or matter. For purposes of this Section, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, will be deemed to be a successful result as to such claim,
issue, or matter. 

  

			
	Indemnification Agreement	 	Page 2

 2. Additional Indemnity. In addition to, and without regard to any limitations on, the
indemnification provided for in Section 1, the Company indemnifies and holds Indemnitee harmless against all Expenses, judgments, penalties, fines, and amounts paid in settlement actually and reasonably incurred by him or her or on his or her
behalf if, by reason of his or her Corporate Status, he or she is, or is threatened to be made, a party to, or participant in, any Proceeding (including a Proceeding by or in the right of the Company), including, without limitation, any and all
liability arising out of the negligence or active or passive wrongdoing of Indemnitee. The only limitation that will exist on the Company’s obligations pursuant to this Agreement will be that the Company will not be obligated to make any
payment to Indemnitee that is finally determined (under the procedures, and subject to the presumptions, in Sections 6 and 7) to be unlawful. 

3. Contribution. 

(a) Whether or not the indemnification provided in Sections 1 and 2 is available, in respect of any threatened, pending,
or completed action, suit, or proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such action, suit, or proceeding), the Company will pay, in the first instance, the entire amount of any judgment or settlement
of such action, suit, or proceeding without requiring Indemnitee to contribute to such payment, and the Company waives and relinquishes any right of contribution it may have against Indemnitee. The Company will not enter into any settlement of any
action, suit, or proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such action, suit, or proceeding) unless such settlement provides for a full and final release of all claims asserted against Indemnitee.
The Company will not settle any action or claim in a manner that would impose any penalty or admission of guilt or liability on Indemnitee without Indemnitee’s written consent. 

(b) Without diminishing or impairing the obligations of the Company in the preceding subparagraph, if Indemnitee elects
or is required to pay all or any portion of any judgment or settlement in any threatened, pending, or completed action, suit, or proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such action, suit, or
proceeding), the Company will contribute to the amount of Expenses, judgments, fines, and amounts paid in settlement actually and reasonably incurred and paid or payable by Indemnitee in proportion to the relative benefits received by the Company
and all officers, directors, or employees of the Company, other than Indemnitee, who are jointly liable with Indemnitee (or would be if joined in such action, suit, or proceeding), on the one hand, and Indemnitee, on the other hand, from the
transaction from which such action, suit or proceeding arose. To the extent necessary to conform to law, the proportion determined on the basis of relative benefit may be further adjusted by reference to the relative fault of the Company and all
officers, directors, or employees of the Company other than Indemnitee who are jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding), on the one hand, and Indemnitee, on the other hand, in connection with the
events that resulted in such expenses, judgments, fines, or settlement amounts, as well as any other equitable considerations which the applicable law may require to be considered. The relative fault of the Company and all officers, directors, or
employees of the Company, other than Indemnitee, who are jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding), on the one hand, and Indemnitee, on the other hand, will be determined by reference to, among other
things, the degree to which their actions were motivated by intent to gain personal profit or advantage, the degree to which their liability is primary or secondary, and the degree to which their respective conduct is active or passive. 

  

			
	Indemnification Agreement	 	Page 3

 (c) The Company agrees to fully indemnify and hold Indemnitee harmless
from any claims of contribution which may be brought by the Company’s officers, directors, or employees, other than Indemnitee, who may be jointly liable with Indemnitee. 

(d) To the fullest extent permissible under applicable law, if the indemnification provided for in this Agreement is
unavailable to Indemnitee for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, will contribute to the amount incurred by Indemnitee, whether for judgments, fines, penalties, excise taxes, amounts paid or to be paid in
settlement or for Expenses, in connection with any claim relating to an indemnifiable event under this Agreement, in such proportion as is deemed fair and reasonable in light of all of the circumstances of such Proceeding to reflect: (i) the
relative benefits received by the Company and Indemnitee as a result of the events and transactions giving cause to such Proceeding; and (ii) the relative fault of the Company (and its directors, officers, employees, and agents) and Indemnitee
in connection with such events and transactions. 
 4. Indemnification for Witness Expenses or in Response to a Subpoena.
Notwithstanding any other provision of this Agreement, to the extent that Indemnitee is, by reason of his or her Corporate Status, (i) is a witness, (ii) is made (or asked) to respond to discovery requests, or (iii) receives a
subpoena, with respect to any Proceeding to which Indemnitee is not a party and is not threatened to be made a party, he or she will be indemnified against all Expenses actually and reasonably incurred by him or her or on his or her behalf in
connection therewith.  
 5. Advancement of Expenses. Notwithstanding any other provision of this Agreement, the Company will
advance all Expenses incurred by or on behalf of Indemnitee in connection with any Proceeding by reason of Indemnitee’s Corporate Status within 30 days after the receipt by the Company of a statement from Indemnitee requesting such advance or
advances, whether prior to or after final disposition of such Proceeding. Such statement will reasonably evidence the Expenses incurred by Indemnitee and will include or be preceded or accompanied by a written undertaking by or on behalf of
Indemnitee to repay any Expenses advanced if it is ultimately determined that Indemnitee is not entitled to be indemnified against such Expenses. Any advances and undertakings to repay pursuant to this Section 5 will be unsecured and interest
free. 
 6. Procedures and Presumptions for Determination of Entitlement to Indemnification. It is the intent of this Agreement to
secure for Indemnitee rights of indemnity that are as favorable as may be permitted under the DGCL and public policy of the State of Delaware. Accordingly, the parties agree that the following procedures and presumptions will apply in the event of
any question as to whether Indemnitee is entitled to indemnification under this Agreement: 
 (a) To obtain
indemnification under this Agreement, Indemnitee will submit to the Company a written request with such documentation and information as is reasonably available to Indemnitee and is reasonably necessary to determine if and to what extent Indemnitee
is entitled to indemnification. The Secretary of the Company will, promptly on receipt of such a request for indemnification, advise the Board in writing that Indemnitee has requested indemnification. Notwithstanding the foregoing, any failure of
Indemnitee to provide such request to the Company, or to provide such a request in a timely fashion, will not relieve the Company of any liability that it may have to Indemnitee unless, and to the extent that, such failure actually and materially
prejudices the interests of the Company. 
 (b) On written request by Indemnitee for indemnification pursuant to the
first sentence of Section 6(a), determining Indemnitee’s entitlement will be made in the specific case by one of the following four methods, which will be at the election of the Board: 

 

	 	(i)	by a majority vote of the Disinterested Directors, even though less than quorum; 

  

			
	Indemnification Agreement	 	Page 4

	 	(ii)	by a committee of Disinterested Directors designated by a majority of the Disinterested Directors, even though less than quorum; 

  

	 	(iii)	if there are no Disinterested Directors, or if the Disinterested Directors so direct, by Independent Counsel in a written opinion to the Board, a copy of which will be delivered to the Indemnitee; or 

 

	 	(iv)	if so directed by the Board, by the stockholders of the Company. 

 (c) If
the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 6(b), the Independent Counsel will be selected as provided in this Section 6(c). The Independent Counsel will be selected by the
Board and notify the Indemnitee by written notice. Within 10 days after such notice has been given, Indemnitee may deliver to the Company a written objection to such selection. But, that objection may only be asserted on the ground that the
Independent Counsel does not meet the requirements of “Independent Counsel” as defined in Section 13, and the objection will include with particularity the factual basis of such assertion. Absent a proper and timely
objection, the person so selected will act as Independent Counsel. If a written objection is made and substantiated, the Independent Counsel selected may not serve as Independent Counsel unless and until such objection is withdrawn or a court has
determined that such objection is without merit. If no Independent Counsel will have been selected and not objected to within 20 days after submission by Indemnitee of a written request for indemnification pursuant to Section 6(a), either the
Company or Indemnitee may petition the Court of Chancery of the State of Delaware or other court of competent jurisdiction for resolution of any objection which made by the Indemnitee to the Company’s selection of Independent Counsel or for the
appointment of a person selected by the court or by such other person as the court designates to serve as Independent Counsel. The person with respect to whom all objections are so resolved or the person so appointed will act as Independent Counsel
under Section 6(b). The Company will pay any and all reasonable fees and expenses of Independent Counsel incurred by such Independent Counsel in connection with acting pursuant to Section 6(b), and the Company will pay all reasonable fees
and expenses incident to the procedures of this Section 6(c), regardless of the manner in which such Independent Counsel was selected or appointed. In no event will Indemnitee be liable for fees and expenses incurred by such Independent
Counsel, subject to the limitations on indemnification set forth herein. 
 (d) In making a determination with respect
to entitlement to indemnification under this Agreement, the person or persons or entity making such determination will presume that Indemnitee is entitled to indemnification under this Agreement. Anyone seeking to overcome this presumption will have
the burden of proof and the burden of persuasion by clear and convincing evidence. Neither the failure of the Company (including by its Board or Independent Counsel) to have made a determination prior to the commencement of any action pursuant to
this Agreement that indemnification is proper in the circumstances because Indemnitee has met the applicable standard of conduct, nor an actual determination by the Company (including by its Board or Independent Counsel) that Indemnitee has not met
such applicable standard of conduct, will be a defense to the action or create a presumption that Indemnitee has not met the applicable standard of conduct. 

(e) Indemnitee will be deemed to have acted in good faith if Indemnitee’s action is based on the records or books
of account of the Enterprise, including financial statements, or on information supplied to Indemnitee by the officers of the Enterprise in the course of their duties, or on the advice of legal counsel for the Enterprise or on information or records
given or reports made 

  

			
	Indemnification Agreement	 	Page 5

 
to the Enterprise by an independent certified public accountant or by an appraiser or other expert selected with reasonable care by the Enterprise. In addition, the knowledge and actions, or
failure to act, of any director, officer, agent, or employee of the Enterprise will not be imputed to Indemnitee for purposes of determining the right to indemnification under this Agreement. Whether or not the foregoing provisions of this
Section 6(e) are satisfied, it will in any event be presumed that Indemnitee has at all times acted in good faith and in a manner he or she reasonably believed to be in, or not opposed to, the best interests of the Company. Anyone seeking to
overcome this presumption will have the burden of proof and the burden of persuasion by clear and convincing evidence. 

(f) If the person, persons, or entity empowered or selected under Section 6 to determine whether Indemnitee is
entitled to indemnification has not have made a determination within 60 days after receipt by the Company of the request, the requisite determination of entitlement to indemnification will be deemed to have been made, and Indemnitee will be entitled
to such indemnification absent (i) a misstatement by Indemnitee of a material fact or an omission of a material fact necessary to make Indemnitee’s statement not materially misleading in connection with the request for indemnification, or
(ii) a prohibition of such indemnification under applicable law. Such 60-day period may be extended for a reasonable time, not to exceed an additional 30 days, if the person, persons, or entity making such determination with respect to
entitlement to indemnification in good faith requires such additional time to obtain or evaluate documentation or information relating thereto. The provisions of this Section 6(f) will not apply if the determination of entitlement to
indemnification is to be made by the stockholders pursuant to Section 6(b) and if (A) within 15 days after receipt by the Company of the request for such determination, the Board or the Disinterested Directors, if appropriate, resolve to
submit such determination to the stockholders for their consideration at an annual meeting to be held within 75 days after such receipt, and such determination is made at that annual meeting, or (B) a special meeting of stockholders is called
within 15 days after such receipt for the purpose of making such determination, such meeting is held for such purpose within 60 days after having been so called and such determination is made at that annual meeting. 

(g) Indemnitee will cooperate with the person, persons, or entity making such determination with respect to
Indemnitee’s entitlement to indemnification, including providing such person, persons, or entity on reasonable advance request any documentation or information which is not privileged or otherwise protected from disclosure and which is
reasonably available to Indemnitee and reasonably necessary to such determination. Any Independent Counsel, member of the Board, or stockholder of the Company will act reasonably and in good faith in making a determination regarding the
Indemnitee’s entitlement to indemnification under this Agreement. Any costs or expenses (including attorneys’ fees and disbursements) incurred by Indemnitee in so cooperating with the person, persons, or entity making such determination
will be borne by the Company (irrespective of the determination as to Indemnitee’s entitlement to indemnification), and the Company indemnifies and agrees to hold Indemnitee harmless therefrom. 

(h) The Company acknowledges that a settlement or other disposition short of final judgment may be successful if it
permits a party to avoid expense, delay, distraction, disruption, and uncertainty. In the event that any action, claim, or proceeding to which Indemnitee is a party is resolved in any manner other than by adverse judgment against Indemnitee
(including, without limitation, settlement of such action, claim or proceeding with or without payment of money or other consideration) it will be presumed that Indemnitee has been successful on the merits or otherwise in such action, suit, or
proceeding. Anyone seeking to overcome this presumption will have the burden of proof and the burden of persuasion by clear and convincing evidence. 

  

			
	Indemnification Agreement	 	Page 6

 (i) The termination of any Proceeding or of any claim, issue, or matter in
any Proceeding, by judgment, order, settlement or conviction, or on a plea of nolo contendere or its equivalent, will not (except as otherwise expressly provided in this Agreement) of itself adversely affect the right of Indemnitee to
indemnification or create a presumption that Indemnitee did not act in good faith and in a manner which he or she reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal Proceeding, that
Indemnitee had reasonable cause to believe that his or her conduct was unlawful. 
 7. Remedies of Indemnitee. 

(a) In the event that (i) a determination is made pursuant to Section 6 that Indemnitee is not entitled to
indemnification under this Agreement, (ii) advancement of Expenses is not timely made pursuant to Section 5, (iii) no determination of entitlement to indemnification is made pursuant to Section 6(b) within 90 days after receipt
by the Company of the request for indemnification, (iv) payment of indemnification is not made pursuant to this Agreement within 10 days after receipt by the Company of a written request for such payment, or (v) payment of indemnification
is not made within 10 days after a determination has been made that Indemnitee is entitled to indemnification or such determination is deemed to have been made pursuant to Section 6, Indemnitee will be entitled to an adjudication in an
appropriate court of the State of Delaware, or in any other court of competent jurisdiction, of Indemnitee’s entitlement to such indemnification. Indemnitee will commence such proceeding seeking an adjudication within 1 year following the date
on which Indemnitee first has the right to commence such proceeding pursuant to this Section 7(a). The Company will not oppose Indemnitee’s right to seek any such adjudication. 

(b) In the event that a determination has been made pursuant to Section 6(b) that Indemnitee is not entitled to
indemnification, any judicial proceeding commenced pursuant to this Section 7 will be conducted in all respects as a de novo trial on the merits, and Indemnitee will not be prejudiced by reason of the adverse determination under
Section 6(b). 
 (c) If a determination has been made pursuant to Section 6(b) that Indemnitee is entitled
to indemnification, the Company will be bound by such determination in any judicial proceeding commenced pursuant to this Section 7, absent (i) a misstatement by Indemnitee of a material fact or an omission of a material fact necessary to
make Indemnitee’s misstatement not materially misleading in connection with the application for indemnification, or (ii) a prohibition of such indemnification under applicable law. 

(d) In the event that Indemnitee, pursuant to this Section 7, seeks a judicial adjudication of his or her rights
under, or to recover damages for breach of, this Agreement, or to recover under any directors’ and officers’ liability insurance policies maintained by the Company, the Company will pay on his or her behalf, in advance, any and all
expenses (of the types described in the definition of Expenses) actually and reasonably incurred by him or her in such judicial adjudication, regardless of whether Indemnitee ultimately is determined to be entitled to such indemnification,
advancement of expenses, or insurance recovery. 
 (e) The Company will be precluded from asserting in any judicial
proceeding commenced pursuant to this Section 7 that the procedures and presumptions of this Agreement are not valid, binding, and enforceable, and will stipulate in any such court that the Company is bound by all the provisions of this
Agreement. The Company will indemnify Indemnitee against any and all Expenses and, if requested by Indemnitee, will (within 10 days after receipt by the Company of a written request therefore) advance, to the extent not prohibited by law, such
expenses to Indemnitee, which are incurred by Indemnitee in connection with any action brought by 

  

			
	Indemnification Agreement	 	Page 7

 
Indemnitee for indemnification or advance of Expenses from the Company under this Agreement or under any directors’ and officers’ liability insurance policies maintained by the Company,
regardless of whether Indemnitee ultimately is determined to be entitled to such indemnification, advancement of Expenses, or insurance recovery, as the case may be. 

(f) Notwithstanding anything in this Agreement to the contrary, no determination as to entitlement to indemnification
under this Agreement will be required to be made prior to the final disposition of the Proceeding. 
 8. Non-Exclusivity; Survival of
Rights; Insurance; Primacy of Indemnification; Subrogation. 
 (a) The rights of indemnification as provided by
this Agreement will not be deemed exclusive of any other rights to which Indemnitee may at any time be entitled under applicable law, the Certificate of Incorporation, the Bylaws, any agreement, a vote of the stockholders, a resolution of the Board,
or otherwise. No amendment, alteration, or repeal of this Agreement or of any provision of this Agreement will limit or restrict any right of Indemnitee under this Agreement in respect of any action taken or omitted by such Indemnitee in his or her
Corporate Status prior to such amendment, alteration, or repeal. To the extent that a change in the DGCL, whether by statute or judicial decision, permits greater indemnification than would be afforded currently under the Certificate of
Incorporation, Bylaws, and this Agreement, it is the intent of the parties of this Agreement that Indemnitee will enjoy all greater benefits so afforded by such change. No right or remedy in this Agreement conferred is intended to be exclusive of
any other right or remedy, and every other right and remedy will be cumulative and in addition to every other right and remedy given under this Agreement or now or hereafter existing at law or in equity or otherwise. The assertion or employment of
any right or remedy under this Agreement, or otherwise, will not prevent the concurrent assertion or employment of any other right or remedy. 

(b) To the extent that the Company maintains an insurance policy or policies providing liability insurance for
directors, officers, employees, agents, or fiduciaries of the Company or of any other corporation, partnership, joint venture, trust, employee benefit plan, or other enterprise that such person serves at the request of the Company, the Company will
procure such insurance policy or policies under which the Indemnitee will be covered in accordance with its or their terms to the maximum extent of the coverage available for any director, officer, employee, agent, or fiduciary under such policy or
policies. If, at the time of the receipt of a notice of a claim pursuant to the terms of this Agreement, the Company has director and officer liability insurance in effect, the Company will give prompt notice of the commencement of such proceeding
to the insurers in accordance with the procedures in the respective policies. The Company will thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of the Indemnitee, all amounts payable as a result of such
proceeding in accordance with the terms of such policies. 
 (c) The Company acknowledges that Indemnitee has or may
have in the future certain rights to indemnification, advancement of expenses, or insurance provided by other entities or organizations (collectively, the “Secondary Indemnitors”). The Company agrees that (i) it is the
indemnitor of first resort (i.e., its obligations to Indemnitee are primary and any obligation of the Secondary Indemnitors to advance expenses or to provide indemnification for the same expenses or liabilities incurred by Indemnitee are secondary),
(ii) it will be required to advance the full amount of expenses incurred by Indemnitee and will be liable for the full amount of all Expenses, judgments, penalties, fines, and amounts paid in settlement to the extent legally permitted and as
required by the terms of this Agreement, the Company’s Certificate of Incorporation or Bylaws (or any other agreement between the Company and Indemnitee), without regard to any rights 

  

			
	Indemnification Agreement	 	Page 8

 
Indemnitee may have against the Secondary Indemnitors, and (iii) it irrevocably waives, relinquishes, and releases the Secondary Indemnitors from any and all claims against the Secondary
Indemnitors for contribution, subrogation, or any other recovery of any kind in respect thereof. The Company further agrees that no advancement or payment by the Secondary Indemnitors on behalf of Indemnitee with respect to any claim for which
Indemnitee has sought indemnification from the Company will affect the foregoing and the Secondary Indemnitors will have a right of contribution and be subrogated to the extent of such advancement or payment to all of the rights of recovery of
Indemnitee against the Company. The Company and Indemnitee agree that the Secondary Indemnitors are express third party beneficiaries of the terms of this Section 8(c). 

(d) Except as provided in Section 8(c), in the event of any payment under this Agreement, the Company will be
subrogated to the extent of such payment to all of the rights of recovery of Indemnitee (other than against the Secondary Indemnitors), who will execute all papers required and take all action necessary to secure such rights, including execution of
such documents as are necessary to enable the Company to bring suit to enforce such rights. 
 (e) Except as provided
in Section 8(c), the Company will not be liable under this Agreement to make any payment of amounts otherwise indemnifiable under this Agreement if and to the extent that Indemnitee has otherwise actually received such payment under any
insurance policy, contract, agreement, or otherwise. 
 (f) Except as provided in Section 8(c), the
Company’s obligation to indemnify or advance Expenses under this Agreement to Indemnitee who is or was serving at the request of the Company as a director, officer, employee, agent or fiduciary of any other corporation, partnership, joint
venture, trust, employee benefit plan, or other enterprise will be reduced by any amount Indemnitee has actually received as indemnification or advancement of expenses from such other corporation, partnership, joint venture, trust, employee benefit
plan, or other enterprise. 
 9. Exceptions to Right of Indemnification. Notwithstanding any provision in this Agreement, the Company
will not be obligated under this Agreement to make any indemnity in connection with any claim made against Indemnitee: 

(a) for which payment has actually been made to or on behalf of Indemnitee under any insurance policy or other indemnity
provision, except with respect to any excess beyond the amount paid under any insurance policy or other indemnity provision, provided, that the foregoing will not affect the rights of Indemnitee or the Secondary Indemnitors in Section 8(c);

 (b) for an accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities
of the Company within the meaning of Section 16(b) of the Exchange Act, or similar provisions of state statutory law or common law; 

(c) in connection with any Proceeding (or any part of any Proceeding) initiated by Indemnitee, including any Proceeding
(or any part of any Proceeding) initiated by Indemnitee against the Company or its directors, officers, employees, or other indemnitees, unless (i) the Board authorized the Proceeding (or any part of any Proceeding) prior to its initiation, or
(ii) the Company provides the indemnification, in its sole discretion, pursuant to the powers vested in the Company under applicable law; 

  

			
	Indemnification Agreement	 	Page 9

 (d) with respect to remuneration paid to Indemnitee if it is determined by
final judgment or other final adjudication that such remuneration was in violation of law (and, in this respect, both the Company and Indemnitee have been advised that the SEC believes that indemnification for liabilities arising under the federal
securities laws is against public policy and is, therefore, unenforceable and that claims for indemnification should be submitted to appropriate courts for adjudication, as indicated in the last paragraph of this Section 9); 

(e) a final judgment or other final adjudication is made that Indemnitee’s conduct was in bad faith, knowingly
fraudulent or deliberately dishonest or constituted willful misconduct (but only to the extent of such specific determination); 

(f) in connection with any claim for reimbursement of the Company by Indemnitee of any bonus or other incentive-based or
equity-based compensation or of any profits realized by Indemnitee from the sale of securities of the Company, as required in each case under the Exchange Act (including any such reimbursements that arise from an accounting restatement of the
Company pursuant to Section 304 of the Sarbanes-Oxley Act, or the payment to the Company of profits arising from the purchase and sale by Indemnitee of securities in violation of Section 306 of the Sarbanes-Oxley Act), if Indemnitee is
held liable therefor (including pursuant to any settlement); or 
 (g) on account of conduct that is established by a
final judgment as constituting a breach of Indemnitee’s duty of loyalty to the Company or resulting in any personal profit or advantage to which Indemnitee is not legally entitled. 

For purposes of this Section 9, a final judgment or other adjudication may be reached in either the underlying proceeding or action in
connection with which indemnification is sought or a separate proceeding or action to establish rights and liabilities under this Agreement. 

Any provision herein to the contrary notwithstanding, the Company will not be obligated pursuant to the terms of this Agreement to indemnify
Indemnitee or otherwise act in violation of any undertaking appearing in and required by the rules and regulations promulgated under the Securities Act, or in any registration statement filed with the SEC under the Securities Act. Indemnitee
acknowledges that paragraph (h) of Item 512 of Regulation S-K promulgated under the Securities Act currently generally requires the Company to undertake, in connection with any registration statement filed under the Securities Act, to
submit the issue of the enforceability of Indemnitee’s rights under this Agreement in connection with any liability under the Securities Act on public policy grounds to a court of appropriate jurisdiction and to be governed by any final
adjudication of such issue. Indemnitee specifically agrees that any such undertaking will supersede the provisions of this Agreement and to be bound by any such undertaking. 

10. Duration of Agreement. All agreements and obligations of the Company contained herein will continue during the period Indemnitee is
an officer or director of the Company (or is or was serving at the request of the Company as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise) and will continue thereafter so long
as Indemnitee will be subject to any Proceeding (or any proceeding commenced under Section 7) by reason of his or her Corporate Status, whether or not he or she is acting or serving in any such capacity at the time any liability or expense is
incurred for which indemnification can be provided under this Agreement. This Agreement will be binding on and inure to the benefit of and be enforceable by the parties of this Agreement and their respective successors (including any direct or
indirect successor by purchase, merger, consolidation, or otherwise to all or substantially all of the business or assets of the Company), assigns, spouses, heirs, executors, and personal and legal representatives. 

11. Security. To the extent requested by Indemnitee and approved by the Board, the Company may at any time and from time to time
provide security to Indemnitee for the Company’s obligations under this Agreement through an irrevocable bank line of credit, funded trust, or other collateral. Any such security, once provided to Indemnitee, may not be revoked or released
without the prior written consent of the Indemnitee. 
 12. Enforcement. 

(a) The Company expressly confirms and agrees that it has entered into this Agreement and assumes the obligations
imposed on it to induce Indemnitee to serve as an officer or director of the Company, and the Company acknowledges that Indemnitee is relying on this Agreement in serving as an officer or director of the Company. 

(b) Other than as provided in this Agreement, this Agreement constitutes the entire agreement between the parties with
respect to this subject matter and supersedes all prior agreements and understandings, oral, written and implied, between the parties with respect to this subject matter. 

  

			
	Indemnification Agreement	 	Page 10

 13. Definitions. For purposes of this Agreement: 

(a) “Beneficial Owner” has the meaning given to such term in Rule 13d-3 under the Exchange Act;
provided, however, that Beneficial Owner will exclude any Person otherwise becoming a Beneficial Owner by reason of the stockholders of the Company approving a merger of the Company with another entity. 

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

(c) “Corporate Status” describes the status of a person who is or was a director, officer,
employee, agent or fiduciary of the Company or of any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise that such person is or was serving at the express written request of the Company. 

(d) “Disinterested Director” means a non-executive director of the Company who is not and was
not a party to the Proceeding in respect of which indemnification is sought by Indemnitee. 
 (e)
“Enterprise” means the Company and any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise that Indemnitee is or was serving at the express written request of the Company as a
director, officer, employee, agent or fiduciary. 
 (f) “Exchange Act” means the Securities
Exchange Act of 1934, as amended. 
 (g) “Expenses” includes all documented and reasonable
attorneys’ fees, retainers, court costs, transcript costs, fees of experts, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, and all other disbursements or expenses
of the types customarily incurred in connection with prosecuting, defending, preparing to prosecute or defend, investigating, participating, or being or preparing to be a witness in a Proceeding, or responding to, or objecting to, a request to
provide discovery in any Proceeding. Expenses also will include Expenses incurred in connection with any appeal resulting from any Proceeding and any federal, state, local, or foreign taxes imposed on the Indemnitee as a result of the actual or
deemed receipt of any payments under this Agreement, including without limitation the premium, security for, and other costs relating to any cost bond, supersedeas bond, or other appeal bond or its equivalent. Expenses will not include amounts paid
in settlement by Indemnitee or the amount of judgments or fines against Indemnitee. 

  

			
	Indemnification Agreement	 	Page 11

 (h) “Independent Counsel” means a law firm, or a
member of a law firm, that is experienced in matters of corporation law and neither presently is, nor in the past five years has been, retained to represent: (i) the Company or Indemnitee in any matter material to either such party (other than
with respect to matters concerning Indemnitee under this Agreement, or of other indemnitees under similar indemnification agreements), or (ii) any other party to the Proceeding giving rise to a claim for indemnification under this Agreement.
Notwithstanding the foregoing, the term “Independent Counsel” will not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Company or
Indemnitee in an action to determine Indemnitee’s rights under this Agreement. The Company agrees to pay the reasonable fees of the Independent Counsel referred to above and to fully indemnify such counsel against any and all Expenses, claims,
liabilities and damages arising out of or relating to this Agreement or its engagement pursuant hereto. 
 (i)
“Person” for purposes of the definition of Beneficial Owner set forth above, will have the meaning as set forth in Sections 13(d) and 14(d) of the Exchange Act; provided, however, that Person will exclude (i) the
Company, (ii) any trustee or other fiduciary holding securities under an employee benefit plan of the Company, and (iii) any corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same
proportions as their ownership of stock of the Company. 
 (j) “Proceeding” includes any
threatened, pending or completed action, suit, arbitration, alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed proceeding, whether brought by or in the right of the
Company or otherwise and whether civil, criminal, administrative or investigative, in which Indemnitee was, is or will be involved as a party or otherwise, by reason of the fact that Indemnitee is or was an officer or director of the Company, by
reason of any action taken by him or her or of any inaction on his or her part while acting as an officer or director of the Company, or by reason of the fact that he or she is or was serving at the request of the Company as a director, officer,
employee, agent or fiduciary of another corporation, partnership, joint venture, trust or other Enterprise; in each case whether or not he or she is acting or serving in any such capacity at the time any liability or expense is incurred for which
indemnification can be provided under this Agreement; including one pending on or before the date of this Agreement, but excluding one initiated by an Indemnitee pursuant to Section 7 of this Agreement to enforce his or her rights under this
Agreement. 
 (k) “Sarbanes-Oxley Act” will mean the Sarbanes-Oxley Act of 2002, as amended.

 (l) “SEC” will mean the Securities and Exchange Commission. 

(m) “Securities Act” will mean the Securities Act of 1933, as amended. 

14. Severability. The invalidity or unenforceability of any provision hereof will in no way affect the validity or enforceability of
any other provision. Further, the invalidity or unenforceability of any provision hereof as to the Indemnitee will in no way affect the validity or enforceability of any provision hereof as to the other. Without limiting the generality of the
foregoing, this Agreement is intended to confer upon Indemnitee indemnification rights to the fullest extent permitted by applicable laws. In the event any provision hereof conflicts with any applicable law, such provision will be deemed modified,
consistent with the aforementioned intent, to the extent necessary to resolve such conflict. 

  

			
	Indemnification Agreement	 	Page 12

 15. Modification and Waiver. No supplement, modification, termination or amendment of this
Agreement will be binding unless executed in writing by both of the parties hereto. No waiver of any of the provisions of this Agreement will be deemed or will constitute a waiver of any other provisions hereof (whether or not similar) nor will such
waiver constitute a continuing waiver. 
 16. Notice By Indemnitee. Indemnitee agrees promptly to notify the Company in writing upon
being served with or otherwise receiving any summons, citation, subpoena, complaint, indictment, information or other document relating to any Proceeding or matter which may be subject to indemnification covered under this Agreement. The failure to
so notify the Company will not relieve the Company of any obligation which it may have to Indemnitee under this Agreement or otherwise unless and only to the extent that such failure or delay materially prejudices the Company. 

17. Notices. All notices and other communications given or made pursuant to this Agreement will be in writing and will be deemed
effectively given: (a) upon personal delivery to the party to be notified, (b) when sent by confirmed electronic mail or facsimile if sent during normal business hours of the recipient, and if not so confirmed, then on the next business
day, (c) 5 days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one (1) day after deposit with a nationally recognized overnight courier, specifying next day delivery, with
written verification of receipt. All communications will be sent:  
  

	 	(a)	To Indemnitee at the address on the books and records of the Company. 

  

	 	(b)	To the Company at: 

 1820 E. Big Beaver Road 

Troy, Michigan 48083 
 Attention:
Office of the General Counsel 
 or to such other address as may have been furnished to Indemnitee by the Company or to the Company by
Indemnitee, as the case may be. 
 18. Counterparts. This Agreement may be executed in two or more counterparts, each of which will
be deemed an original, but all of which together will constitute one and the same Agreement. This Agreement may also be executed and delivered by facsimile signature, electronic mail (including .pdf or any electronic signature complying with the
U.S. Federal ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method and in two or more counterparts, each of which will be deemed an original, but all of which together will constitute one and the same instrument and be
deemed to have been duly and validly delivered and be valid and effective for all purposes. 
 19. Headings. The headings of the
paragraphs of this Agreement are inserted for convenience only and will not be deemed to constitute part of this Agreement or to affect the construction thereof. 

20. Governing Law and Consent to Jurisdiction. This Agreement and the legal relations among the parties will be governed by, and
construed and enforced in accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules. The Company and Indemnitee hereby irrevocably and unconditionally (i) agree that any action or proceeding arising out of
or in connection with this Agreement will be brought only in the Chancery Court of the State of Delaware (the “Delaware Court”), and not in any other state or federal court in the United States of America or any court in any
other country, (ii) consent to submit to the exclusive jurisdiction of the Delaware Court for purposes of any action or proceeding arising out of or in connection with this Agreement, (iii) appoint, to the extent such party is not
otherwise subject to service of process in the State of Delaware, irrevocably Corporation Service Company as its agent in the State of Delaware for acceptance of legal process in connection with any such action or

  

			
	Indemnification Agreement	 	Page 13

 
proceeding against such party with the same legal force and validity as if served upon such party personally within the State of Delaware, (iv) waive any objection to the laying of venue of
any such action or proceeding in the Delaware Court, and (v) waive, and agree not to plead or to make, any claim that any such action or proceeding brought in the Delaware Court has been brought in an improper or inconvenient forum. 

[SIGNATURE PAGE TO FOLLOW] 

  

			
	Indemnification Agreement	 	Page 14

 The parties have executed this Agreement on and as of the day and year first above written. 

 

			
	ALTAIR ENGINEERING INC.

 
			
		
	By:	 	 

 
			
	Name:	 	
	Title:	 	

 
			
	
	INDEMNITEE

 
			
	
	 
	Name:	 	

 [Indemnification Agreement Signature Page]EX-10.2

 Exhibit 10.2 

ALTAIR ENGINEERING INC. 

2001 INCENTIVE AND NON-QUALIFIED STOCK OPTION PLAN 

(AS AMENDED AS OF APRIL 3, 2017) 
 1.
Purpose. The purpose of the Plan is to encourage and enable selected management, other employees, and directors of the Company, to acquire a proprietary interest in the Company through the ownership of the Common Stock of the Company. The
Company intends to use the Plan to attract, retain and motivate Participants to attain exceptional levels of performance and provide Participants with an opportunity to participate in the increased value of the Company which their efforts,
initiative, and skill have helped produce. The Plan design enables the Company to grant to Participants Incentive Stock Options and/or Non-Qualified Stock Options to purchase shares of Common Stock of the Company. The Plan is effective as of
January 31, 2001. 
 2. Definitions. 

(a) “Board” shall mean the Board of Directors of the Company. 

(b) “Change in Control” shall, unless in the case of a particular Option the applicable Option Agreement states otherwise or contains
a different definition of “Change in Control,” be deemed to occur upon: 
 (1) the acquisition (whether by merger, consolidation,
share exchange, tender offer or similar form of corporate transaction) (a “Business Combination”) by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act (a “Person”) of
beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 50% or more of the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors
(the “Outstanding Company Voting Securities”) unless immediately following such Business Combination, the holders of more than 50% of the total voting power of the Outstanding Company Voting Securities immediately prior to such Business
Combination own more than 50% of the total voting power of (x) the entity resulting from such Business Combination (the “Surviving Company”) or (y) if applicable, the ultimate parent entity that directly or indirectly has
beneficial ownership of sufficient voting securities eligible to elect a majority of the members of the board of directors (or the analogous governing body) of the Surviving Company; provided, however, that for purposes of this Plan, the following
acquisitions shall not constitute a Change in Control: (I) any acquisition by the Company of its Outstanding Company Voting Securities, (II) any acquisition by any employee benefit plan sponsored or maintained by the Company, (III) any
acquisition of Outstanding Company Voting Securities by investment entities affiliated with General Atlantic Partners, LLC or any group of which such investment entities affiliated with General Atlantic Partners, LLC are a member, or (IV) in respect
of an Option held by a particular Participant, any acquisition by the Participant or any group of persons including the Participant (or any entity controlled by the Participant or any group of persons including the Participant); 

(2) the dissolution or liquidation of the Company; or 

(3) the sale, transfer or other disposition of all or substantially all of the assets of the Company. 

(c) “Code” shall mean the Internal Revenue Code of 1986, as amended. 

(d) “Common Stock” shall mean the Class A common capital stock of the Company. 

(e) “Company” shall mean Altair Engineering Inc., a Michigan corporation and any Subsidiary of the Company. 

(f) “Employee” shall mean any individual who is employed, within the meaning of Section 3401 of the Code and the regulations
promulgated thereunder, by the Company. The Board shall be responsible for determining when an Employee’s period of employment is deemed to be continued during an approved leave of absence. 

 (g) “Exchange Act” shall mean the Securities Exchange Act of 1934,as amended. 

(h) “Exercise Price” shall mean the price per Share at which an Option may be exercised, as determined by the Board and as specified
in the Participant’s Option Agreement. 
 (i) “Fair Market Value” shall mean the value of each Share determined as of any
specified date as follows: 
 (1) If the Shares are traded on any United States securities exchange, or if the Shares are not traded on any
United States securities exchange but are traded on any formal over-the-counter quotation system in general use in the United States, the value per Share shall be the closing price on such exchange or quotation system on the business day immediately
preceding such specified date; provided, however, that if no Shares are traded on the business day immediately preceding such specified date, the value per Share shall be the mean between the closing high bid and closing low asked quotations on the
business day immediately preceding such specified date; or 
 (2) If Paragraph (1) does not apply, the value per Share shall be
determined by the Board in accordance with Section 4(e) in good faith and based on uniform principles consistently applied. Such determination shall be conclusive and binding on all persons. 

(j) “Incentive Stock Option” shall mean an Option of the type which is described in Section 422(b) of the Code. 

(k) “Non-qualified Stock Option” shall mean an Option which does not qualify as an Incentive Stock Option. 

(l) “Option” shall mean an option which is granted pursuant to the Plan to purchase Shares of Common Stock, whether granted as an
Incentive Stock Option or as a Non-qualified Stock Option. 
 (m) “Option Agreement” shall mean, with respect to each Option, the
signed written agreement between the Company and the Participant setting forth the terms and conditions of the Option. 
 (n)
“Participant” shall mean any individual to whom an Option has been granted or issued under the Plan. 
 (o) “Plan” shall
mean this Altair Engineering Inc. 2001 Incentive and Non-qualified Stock Option Plan. 
 (p) “Plan Year” shall mean the 12
consecutive month period coinciding with the Company’s fiscal year. 
 (q) “Purchase Price” shall mean, at any specified time,
the Exercise Price per Share multiplied by the number of Shares being purchased pursuant to the exercise of an Option. 
 (r)
“Securities Act” shall mean the Securities Act of 1933,as amended. 
 (s) “Share” shall mean one authorized share of
Common Stock. 
 (t) “Subsidiary” shall mean any corporation or other business entity (other than the Company) in an unbroken chain
of corporations and/or other business entities beginning with the Company if, at the time of granting an Option, each of the corporations and/or other business entities (other than the last business entity in the unbroken chain) owns stock
possessing at least 50% of the total combined voting power of all classes of ownership in one of the other corporations and/or other business entities in such chain. 

(u) “Vest” or “Vesting” shall mean the event or point in time at which an Option becomes exercisable for the first time.

 3. Effective Date. The Plan was adopted by the Company effective as of January 31, 2001. 

  
 2 

 4. Administration. 

(a) Administration by the Board or the Committee. The Board shall administer the Plan in accordance with the provisions hereof. The
Board may appoint a committee (the “Committee”) to administer the Plan. If a Committee is appointed, the Committee shall have the powers and authority otherwise delegated to the Board in this Plan document. The Board may, from time to
time, increase or decrease the size of the Committee, fill vacancies however caused, remove members with or without cause, and disband the Committee and thereafter directly administer the Plan. The Company may engage a third party to administer
routine matters under the Plan, such as establishing and maintaining accounts for Participants and facilitating transactions by Participants pursuant to the Plan. 

(b) Powers of the Board. On behalf of the Company and subject to the provisions of the Plan, the Board shall have the authority and
discretion to: (i) Prescribe, amend and rescind rules and regulations relating to the Plan; (ii) Select Participants to receive Options; (iii) Determine the form and terms of Options; (iv) Determine the number of Shares or other
consideration subject to Options; (v) Determine whether Options will be granted singly, in combination or in tandem with, in replacement of, or as alternatives to, other Options under the Plan or any other incentive or compensation plan of the
Company; (vi) Construe and interpret the Plan, any Option Agreement and any other agreement or document executed pursuant to the Plan; (vii) Correct any defect or omission, or reconcile any inconsistency in the Plan, any Option or any
Option Agreement; (viii) Determine whether an Option has been earned and/or Vested; (ix) Accelerate or defer, with the consent of the Participant, the Vesting of any Option; (x) Authorize any person to execute on behalf of the Company
any instrument required to effectuate the grant of an Option as made by the Board; (xi) With the consent of the Participant, reprice, cancel and reissue, or otherwise adjust the terms of an Option previously issued to the Participant; and
(xii) Make all other determinations deemed necessary or advisable for the administration of the Plan. The interpretations and decisions made by the Board with regard to any question arising under the Plan shall be final and conclusive on all
persons participating or eligible to participate in the Plan. 
 (c) Conflicts of Interest. Members of the Board or the Committee who
are either eligible for Options or have been granted an Option may vote on any matters affecting the administration of the Plan or the grant of any Option pursuant to the Plan. However, no such member shall act upon the granting of an Option to
himself or herself (unless such grant is part of a plan under which Options are to be granted to a classification of Employees). In the event of cases such as those described in the preceding sentence, such member shall be counted in determining the
existence of a quorum at a meeting of the Board or the Committee but shall be excluded in determining the number of members voting or taking written action with respect to an Option granted to such member. 

(d) Board’s Interpretation of the Plan. The Board’s interpretation and construction of any provision of the Plan, of any
Option granted under the Plan, or of any Option Agreement shall be final and binding on all parties claiming an interest in an Option granted or issued under the Plan. No member of the Board or the Committee shall be liable for any action or
determination made in good faith with respect to the Plan. 
 (e) Board’s Determination of Fair Market Value. Notwithstanding
anything contained herein to the contrary, the Board shall have the sole and exclusive authority to determine, upon review of relevant information, the Fair Market Value of the Common Stock, subject to the provisions of the Plan and irrespective of
whether the Board has appointed a Committee to administer the Plan. 
 5. Eligibility for Participation. Plan Participants shall be limited to
such individuals as the Board may select. A Participant may be granted more than one type of Option under the Plan. 
 6. Shares of Stock of the
Corporation. 
 (a) Shares Subject to This Plan. Stock with respect to which Options are granted or issued under this Plan
shall be authorized but unissued or reacquired Shares of the Company’s Common Stock. The aggregate number of Shares which may be issued under this Plan shall not exceed 1,156,112 Shares, subject to adjustment under Section 9.

  
 3 

 (b) Adjustment of Shares. In the event of an adjustment described in Section 9, then
(i) the number of Shares reserved for issuance under the Plan, (ii) the Exercise Prices of and number of Shares subject to outstanding Options, and (iii) any other factor pertaining to outstanding Options shall be duly and
proportionately adjusted, subject to any required action by the Board or the shareholders of the Company and compliance with applicable securities laws; provided, however, that fractions of a Share shall not be issued but shall either be paid in
cash at Fair Market Value or shall be rounded up to the nearest Share, as determined by the Board. 
 (c) Options Not to Exceed Shares
Available. The number of Shares subject to Options which have been granted under this Plan at any time during the Plan Term shall not exceed the number of Shares authorized for issuance under the Plan. The number of Shares subject to an Option
which expires, is canceled, is forfeited or is terminated for any reason, shall again be available for issuance under the Plan. 
 7. Terms and
Conditions of Options. 
 (a) Option Agreement. Each Option shall be evidenced by a written Option Agreement which shall set
forth the terms and conditions pertaining to such Option, provided that all such terms shall be subject to and consistent with this Plan. An Option Agreement shall be in such form as the Board shall approve from time to time, which Option Agreements
need not be identical. 
 (b) Number of Shares Covered by an Option. Each Option Agreement shall state the number of Shares for which
the Option is exercisable and shall provide for the adjustment of such Shares in accordance with Section 9. 
 (c) Exercise of
Options. A Participant may exercise an Option only on or after the date on which the Option Vests, as provided in Subsection (d) below, and only on or before the date on which the Option expires, as provided in Subsection (e) below.

 (d) Vesting of Options. A Participant may exercise an Option to purchase Shares only on or after the date the Option has Vested
with respect to such Shares. Each Option Agreement shall include a Vesting schedule applicable to the Shares to which such Option pertains. The Vesting schedule shall not impose upon the Company any obligation to retain the Participant in its employ
for any period. A Participant’s Option Agreement shall so specify if all or any non-Vested Options held by the Participant on the date of death or total and permanent disability shall become Vested. 

(e) Term and Lapse of Options. A Participant may exercise an Option to purchase Shares only on or before the date on which the term of
the Option expires. Each Option Agreement shall set forth the term of the Option and the events described in the immediately following sentence which will cause the Option to lapse or otherwise end, in whole or in part, as of an earlier date. An
Option shall lapse on the first to occur of the following events: 
 (i) The tenth anniversary of the date that an Incentive Stock Option was
granted; provided, however, that in the case of an Incentive Stock Option granted to a Participant owning, actually or constructively under Section 424(d) of the Code, more than 10% of the total combined voting power of all classes of stock of
the Company (a “10% Stockholder”), such option, by its terms, shall be exercisable only within five years from the date of grant. 

(ii) The date determined under Section 7(i) for a Participant who ceases to be an Employee by reason of the Participant’s death or
total and permanent disability, within the meaning of Section 22(e)(3) of the Code unless the Board at its discretion extends such date before the applicable expiration date (provided, that upon any such extension, in the event that a
Participant fails to exercise any Incentive Stock Option on or before the date which is twelve months after the date the Participant ceases to be an Employee, such Incentive Stock Option shall thereupon become a Non-qualified Stock Option); 

(iii) The date determined under Section 7(j) for a Participant who ceases to be an Employee for any reason, other than by reason of death
or total and permanent disability, unless the Board at its discretion extends such date before the applicable expiration date (provided, that upon any such extension, in the event that a Participant fails to exercise any Incentive Stock Option on or
before 

  
 4 

 
the date which is three months after the date the Participant ceases to be an Employee, such Incentive Stock Option shall thereupon become a Non-qualified Stock Option); or 

(iv) The expiration date specified in the Participant’s Option Agreement. 

(f) Exercise Price. The Exercise Price under each Incentive Stock Option shall be not less than 100% of the Fair Market Value of the
Shares determined on the date the Incentive Stock Option is granted. In the case of an Incentive Stock Option granted to a 10% Stockholder, the Exercise Price shall not be less than 110% of the Fair Market Value of the Shares determined on the date
the Incentive Stock Option is granted. The Exercise Price under each Non-qualified Stock Option shall be specified by the Board, but shall in no case be less than 100% of the Net Book Value of the Shares determined on the date the Non-qualified
Stock Option is granted. 
 (g) Medium and Time of Payment of Purchase Price. A Participant exercising an Option shall pay the
Purchase Price of the Shares to which such exercise pertains in full in cash (in U.S. dollars) as a condition of such exercise, unless the Board at its discretion allows the Participant to pay the Purchase Price in any manner allowable under
Section 14, so long as the sum of cash so paid and such other consideration equals the Purchase Price. 
 (h) Nontransferability of
Options. An Option granted to a Participant shall, during the lifetime of the Participant, be exercisable only by the Participant or the Participant’s conservator or legal representative and shall not be assignable or transferable. In the
event of the Participant’s death, the Option is transferable by the Participant only by will or the laws of descent and distribution. 

(i) Death or Disability of Participant. If a Participant dies while an Employee or ceases to be an Employee as a consequence of becoming
totally and permanently disabled (within the meaning of Section 22(e)(3) of the Code), any Option granted to the Participant may be exercised, to the extent it was Vested on the date of the Employee’s death or disability, at any time
within 12 months after the Participant’s death or disability (but not beyond the otherwise applicable term of the Option) by the Participant’s conservator or legal representative, by the executors or administrators of the
Participant’s estate or by any person who has acquired the Option directly from the Participant by will or the laws of descent and distribution, as the case may be. 

(j) Termination Other than by Death or Disability. 

(i) If a Participant ceases to be an Employee for any reason other than death or total and permanent disability (as defined in
Section 7(i)), any unexercised Option (whether Vested or not) shall expire at 12:00 p.m. on the 90th day following the date the Participant’s employment with the Company terminates. In addition, the Board may, in its sole and absolute
discretion, Vest any non-Vested Options within 30 days following such termination of employment. 
 (ii) For purposes of this
Section 7(j), the employment relationship shall be treated as continuing intact while the Participant is an active employee of the Company or is on military leave, sick leave or other bona fide leave of absence, as determined by the Board in
its discretion. The preceding sentence notwithstanding, in the case of an Incentive Stock Option, employment shall be deemed to terminate on the date the Participant ceases active employment with the Company unless the Participant’s
reemployment rights are guaranteed by statute or contract. 
 (k) Rights as a Stockholder. A Participant, or an allowable transferee
of a Participant, shall have no rights as a shareholder of the Company with respect to any Shares for which an Option is exercisable until the date a stock certificate for such Shares is issued. No adjustment shall be made for dividends (ordinary or
extraordinary or whether in currency, securities, or other property), distributions, or other rights for which the record date is prior to the date such stock certificate is issued, except as provided in Section 9. 

(l) Modification, Extension, and Renewal of Options. Within the limitations of the Plan, the Board may at its discretion modify, extend
or renew any outstanding Option or accept the cancellation of an outstanding Option for the granting of a new Option in substitution. Notwithstanding the preceding sentence, no modification of an Option shall, without the consent of the Participant,
alter or impair any rights or obligations under any Option previously granted. 

  
 5 

 (m) Other Provisions. An Option Agreement may contain such other provisions as the Board
deems advisable which are not inconsistent with the terms of the Plan, including but not limited to: 
 (i) Restrictions on the exercise of
the Option; 
 (ii) Submission by the Participant of such forms and documents as the Board may require; and/or 

(iii) Procedures to facilitate the broker-assisted exercise of the Option. 

(n) No Disqualification of Incentive Stock Options. Notwithstanding any other provision of the Plan, the Plan shall not be interpreted,
amended or altered, nor shall any discretion or authority granted under the Plan be exercised, so as to disqualify the Plan under Section 422 of the Code or, without the consent of the Participant affected, disqualify any Incentive Stock Option
under Section 422 of the Code. 
 (o) Limitations on Incentive Stock Options. The aggregate Fair Market Value (determined as of
the date of grant) of Shares subject to grant(s) of Incentive Stock Options which will become Vested by a Participant during any calendar year (under the Plan or under any other incentive stock option plan of the Company) shall not exceed $100,000.
If the Fair Market Value of the Shares described in the preceding sentence exceeds $100,000, the Options for the first $100,000 worth of Shares to become Vested shall be Incentive Stock Options and the Options for the amount in excess of $100,000
that become Vested shall be Non-qualified Stock Options. In the event the Code or the regulations promulgated thereunder are amended after the Effective Date of the Plan to provide for a different limit on the Fair Market Value of Shares permitted
to be subject to Incentive Stock Options, such different limit shall be automatically incorporated into this Section 7(o) and shall apply to any Options granted on or after the effective date of such amendment. 

8. Term of Plan. Options may be granted pursuant to the Plan through the period ending on January 31, 2011. All Options which are
outstanding on such date shall remain in effect until they are exercised or expire by their terms. 
 9. Recapitalizations, Takeovers, and
Liquidations. 
 (a) Reorganizations. Notwithstanding any other provision of the Plan to the contrary, but subject to any
required action by the stockholders of the Company, the Board shall make any adjustments to the class and/or number of Shares covered by the Plan, the number of Shares for which each outstanding Option pertains, the Exercise Price of an Option,
and/or any other aspect of this Plan to prevent the dilution or enlargement of the rights of Participants under this Plan in connection with any increase or decrease in the number of issued and outstanding shares of the common capital stock of the
Company resulting from the payment of a stock dividend, a stock split, a reverse stock split or any other event which results in an increase or decrease in the number of issued and outstanding shares of the common capital stock of the Company
effected without receipt of adequate consideration by the Company. 
 (b) Effect of Change in Control. Except to the extent provided
in a particular Option Agreement: 
 (i) In the event of a Change in Control, the Board may, in its discretion, provide that notwithstanding
any vesting schedule set forth in any Option Award, such Option shall become immediately Vested with respect to 100 percent of the Shares subject to such Option. 

(ii) In addition, in the event of a Change in Control, the Board may, in its discretion and upon at least 10 days’ advance notice to the
affected Participants, cancel any outstanding Options and pay to the holders thereof, in cash or stock, or any combination thereof, the value of such Options based upon the price per Share received or to be received by other shareholders of the
Company in the event. 
 (iii) The obligations of the Company under the Plan shall be binding upon any successor corporation or organization
resulting from the merger, consolidation or other 

  
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reorganization of the Company, or upon any successor corporation or organization succeeding to substantially all of the assets and business of the Company. The Company agrees that it will make
appropriate provisions for the preservation of Participants’ rights under the Plan in any agreement or plan which it may enter into or adopt to effect any such merger, consolidation, reorganization or transfer of assets. 

(c) Determination by the Board. All adjustments described in this Section 9 shall be made by the Board, whose determination shall
be conclusive and binding on all persons. 
 (d) Limitation on Rights of Participants. Except as expressly provided in this
Section 9, no Participant shall have any rights by reason of any payment of any stock dividend, stock split, reverse stock split, or any other change in the number of shares of stock of any class, or by reason of any reorganization,
consolidation, dissolution, liquidation, merger, exchange, split-up or reverse split-up, or spin-off of assets or stock of another corporation. Any issuance by the Company of Options shall not affect, and no adjustment by reason thereof shall be
made with respect to, Options under the Plan. 
 (e) No Limitation on Rights of Company. The grant of an Option pursuant to the Plan
shall not affect in any way the right or power of the Company to make adjustments, reclassifications, reorganizations, or changes of its capital or business structure, or to merge or consolidate, or to dissolve, liquidate, sell, or transfer all or
any part of its business or assets. 
 10. Securities Law Requirements. 

(a) Legality of Issuance. No Share shall be issued upon the exercise of any Option unless and until the Board has determined that: 

(i) The Company and the Participant have taken all actions required to register the Shares under the Securities Act, or to perfect an exemption
from registration requirements of the Securities Act, or to determine that the registration requirements of the Securities Act do not apply to such exercise; 

(ii) Any applicable listing requirement of any stock exchange on which the Share is listed has been satisfied; and 

(iii) Any other applicable provision of state, federal or foreign law has been satisfied. 

(b) Restrictions on Transfer; Representations of Participant; Legends. Regardless of whether the offering and sale of Shares under the
Plan have been registered under the Securities Act or has been registered or qualified under the securities laws of any state, the Company may impose restrictions upon the sale, pledge, or other transfer of such Shares (including the placement of
appropriate legends on stock certificates) if, in the judgment of the Company and its counsel, such restrictions are necessary or desirable to achieve compliance with the provisions of the Securities Act, the securities laws of any state, or any
other law. If the offering and/or sale of Shares under the Plan is not registered under the Securities Act and the Company determines that the registration requirements of the Securities Act apply but an exemption is available which requires an
investment representation or other representation, the Participant shall be required, as a condition to acquiring such Shares, to represent that such Shares are being acquired for investment, and not with a view to the sale or distribution thereof,
except in compliance with the Securities Act, and to make such other representations as are deemed necessary or appropriate by the Company and its counsel. Stock certificates evidencing Shares acquired pursuant to an unregistered transaction to
which the Securities Act applies shall bear a restrictive legend substantially in the following form and such other restrictive legends as are required or deemed advisable under the Plan or the provisions of any applicable law: 

THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (“ACT”). THEY MAY NOT BE TRANSFERRED, SOLD OR OFFERED FOR
SALE UNLESS A REGISTRATION STATEMENT UNDER THE ACT IS IN EFFECT AS TO SUCH TRANSFER OR IN THE OPINION OF COUNSEL FOR THE ISSUER EITHER SUCH REGISTRATION IS UNNECESSARY IN ORDER FOR SUCH TRANSFER TO COMPLY WITH THE ACT OR THE REGISTRATION PROVISIONS
OF THE ACT DO NOT APPLY TO SUCH PROPOSED TRANSFER. 

  
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 (c) Registration or Qualification of Securities. The Company may, but shall not be
obligated to, register or qualify the offering or sale of Shares under the Securities Act or any other applicable law. 
 (d) Exchange of
Certificates. If, in the opinion of the Company and its counsel, any legend placed on a stock certificate representing Shares issued pursuant to the Plan is no longer required, the Participant or the holder of such certificate shall be entitled
to exchange such certificate for a certificate representing the same number of Shares but lacking such legend. 
 (e) Determination of
Company Binding. Any determination by the Company and its counsel in connection with any of the matters set forth in this Section 10 shall be conclusive and binding on all persons. 

11. Limitations on Shares. All Shares issued pursuant to the Plan shall be subject to the terms and conditions of the Company’s Stock
Restriction and Repurchase Agreement and the Company shall place legends on stock certificates representing that the Shares are subject to such Stock Restriction and Repurchase Agreement. 

12. Exercise of Unvested Options. 

(a) Purpose of Section 12. This Section 12 is intended to apply for the benefit of a Participant prior to the time Shares held
by the Participant are freely transferable under applicable federal and state securities laws without the Participant holding the Shares for a minimum period of time (e.g., the holding period requirement of Rule 144 adopted by the Securities and
Exchange Commission under the Securities Act). More specifically, a Participant with an unvested Option may commence this holding period for the Shares subject to the Option by exercising the unvested Option and receiving Shares of restricted stock
which will Vest on the same date as the Option would have Vested. In this way, the Participant is able to begin the holding period for the Shares prior to the date the Option would have Vested. 

(b) Exercise of Unvested Options and Issuance of Restricted Stock. The Board, at its discretion, may grant any Participant the right to
exercise any Option prior to the Vesting of such Option, provided that the Shares issued upon such exercise shall remain subject to Vesting, as restricted stock, at the same rate as under the Option so exercised and: 

(i) Shares issued pursuant to an Option which is Vested or which thereafter become Vested shall be subject to the terms and conditions of the
Company’s Stock Restriction and Repurchase Agreement; and 
 (ii) Shares issued pursuant to an Option which is not Vested on or before
the applicable date described in Section 7 for determining the forfeiture or lapsing of the Option pursuant to which such Shares were issued pursuant to this Section 12, shall be forfeited at the Exercise Price paid by the Participant to
the Company to acquire such Shares. 
 13. Amendment of the Plan. The Board may, from time to time, terminate, suspend or discontinue the
Plan, in whole or in part, or revise or amend it in any respect whatsoever including, but not limited to, the adoption of any amendment deemed necessary or advisable to qualify the Options under rules and regulations promulgated by the Securities
and Exchange Commission with respect to Employees who are subject to the provisions of Section 16 of the Exchange Act, or to correct any defect or supply any omission or reconcile any inconsistency in the Plan or in any Option granted under the
Plan, with or without approval of the shareholders of the Company, but if any such action is taken without the approval of the Company’s shareholders, no such revision or amendment shall: 

(a) Increase the number of Shares subject to the Plan, other than any increase pursuant to Section 9; 

(b) Change the designation of the class of persons eligible to receive Options; 

  
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 (c) Increase the maximum duration of an Option; 

(d) Change the manner of determining the Exercise Price of an Option; 

(e) Extend the term of the Plan; or 

(f) Amend this Section 13 to defeat its purpose. No amendment, termination or modification of the Plan shall, without the consent of the
Participant, affect any Option previously granted. 
 14. Payment for Share Purchases. 

(a) Payment. Payment of the Purchase Price for any Shares purchased pursuant to the Plan may be made in cash (in U.S. dollars) or, where
expressly approved for the Participant by the Board, in its sole and absolute discretion, and where permitted by law: 
 (i) By check; 

(ii) By cancellation of indebtedness of the Company to the Participant; 

(iii) By surrender of Shares that either: (A) have been owned by Participant for more than six (6) months and have been paid for
within the meaning of SEC Rule 144; or (B) were obtained by Participant in the public market; 
 (iv) By waiver of compensation due or
accrued to Participant for services rendered; 
 (v) With respect only to purchases upon exercise of an Option, and provided that a public
market for the Company’s stock exists (A) through a “same day sale” commitment from Participant and a broker-dealer that is a member of the National Association of Securities Dealers (an “NASD dealer”) whereby
Participant irrevocably elects to exercise the Option and to sell a portion of the Shares so purchased to pay for the Purchase Price, and whereby the NASD Dealer irrevocably commits upon receipt of such Shares to forward the Purchase Price directly
to the Company; or (B) through a “margin” commitment from Participant and an NASD Dealer whereby Participant irrevocably elects to exercise the Option and to pledge the Shares so purchased to the NASD Dealer in a margin account as
security for a loan from the NASD Dealer in the amount of the Purchase Price, and whereby the NASD Dealer irrevocably commits upon receipt of such Shares to forward the Purchase Price directly to the Company; or 

(vi) In the event that no public market for the Company’s stock exists, by the issuance of Shares equal in value to the excess of
(A) the then Fair Market Value of the Shares being purchased over (B) the Purchase Price for the Shares being purchased. 
 (vii)
By any combination of the foregoing. 
 (b) Loan Guarantees. The Board may help the Participant pay for Shares purchased under the
Plan by authorizing a guarantee by the Company of a third-party loan to the Participant. 
 15. Application of Funds. The proceeds received by
the Company from the sale of Common Stock pursuant to the exercise of an Option shall be used for general corporate purposes. 
 16. Privileges of
Stock Ownership. No Participant shall have any of the rights of a shareholder with respect to any Shares until the date a stock certificate for such Shares is issued to the Participant. After certificates are issued to the Participant, the
Participant shall be a shareholder and have all the rights of a shareholder with respect to such Shares, including the right to receive all dividends or other distributions made or paid with respect to such Shares. The preceding sentence
notwithstanding, a Participant who, pursuant to Section 12, (i) exercises an unvested Option and receives Shares of restricted stock and (ii) forfeits such Shares by terminating employment prior to the date such Shares Vest shall have
no right to retain dividends or distributions received with respect to such Shares and shall return such dividends and distributions to the Company without consideration. 

  
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 17. Transferability. Options granted under the Plan, and any interest therein, shall not be
transferable or assignable by Participant, and may not be made subject to execution, attachment or similar process, otherwise than by will or by the laws of descent and distribution or as consistent with the specific Plan and Option Agreement
provisions relating thereto. During the lifetime of the Participant an Option may be exercisable only by the Participant, and any elections with respect to any Option may be made only by the Participant. 

18. Withholding of Taxes. Whenever Shares are to be issued under the Plan, the Company may require the Participant to remit to the Company an
amount sufficient to satisfy federal, state and local withholding tax requirements prior to the delivery of any certificate or certificates for such Shares. Whenever, under the Plan, payments in satisfaction of Options are to be made in cash, such
payment shall be net of an amount sufficient to satisfy federal, state, and local withholding tax requirements. 
 19. Statement to
Participants. Within a reasonable time after the last day of each Plan Year, the Board shall furnish to each Participant a statement setting forth the Participant’s total number of Shares subject to Options, the date such Options were
granted, the Fair Market Value of such Options as of the grant or issuance date, and such other information as the Board shall deem advisable to furnish. 

20. Rights as an Employee. The Plan shall not be construed to give any individual the right to remain in the employ of the Company or to affect
the right of the Company to terminate such individual’s employment at any time, with or without cause. The grant of an Option shall not entitle the Participant to, or disqualify the Participant from, participation in the grant of any other
Option under the Plan or participation in any other plan maintained by the Company. 
 21. Non-Uniform Determinations. The Board’s
determinations under the Plan (including without limitation determinations of the persons to receive Options, the form, amount and timing of such Options, the terms and provisions of such Options and the Option Agreements evidencing same, and the
establishment of values and performance targets) need not be uniform and may be made by the Board selectively among persons who receive, or are eligible to receive, Options under the Plan, whether or not such persons are similarly situated. 

22. Inspection of Records. Copies of the Plan, records reflecting each Participant’s Options and any other documents and records which a
Participant is entitled by law to inspect shall be open to inspection by the Participant and his or her duly authorized representative at the office of the Company at any reasonable business hour upon reasonable advance notice from the Participant.

  
 10

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