Document:

Exhibit 10.01

 Exhibit 10.01 
 EMPLOYEE CONFIDENTIALITY, NON-COMPETITION, AND 
 NON-SOLICITATION AGREEMENT

 This Confidentiality, Non-Competition, and Non-Solicitation Agreement (“Agreement”) is entered into this 25th day of June, 2008, by and
between Under Armour, Inc. (together with its affiliates, the “Company”) and David McCreight (“Employee”). 
 EXPLANATORY NOTE 
 The Employee has been offered the position of President of the Company pursuant to a negotiated offer letter of
employment dated June 25, 2008 (the “Offer Letter”). The Employee recognizes that the Employee has had or will have access to confidential proprietary information during the course of his or her employment and that the Employee’s
subsequent employment with a Competitor Business, as defined in Section 3, would inevitably result in the disclosure of that information and, thereby, create unfair competition and would likely cause substantial loss and harm to the Company.
The Employee further acknowledges that employment with the Company is based on the Employee’s agreement to abide by the covenants contained herein. 
 NOW THEREFORE, in consideration of Employee’s employment with the Company and for other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the parties agree as follows: 
 1. Confidentiality. Employee acknowledges Employee’s fiduciary duty and duty of loyalty to the Company. Further, Employee acknowledges that
the Company, in reliance on this Agreement, will provide Employee access to trade secrets, customers, proprietary data and other confidential information. Employee agrees to retain said information as confidential and not to use said information for
the Employee’s personal benefit or to disclose same to any third party, except when required to do so to properly perform duties to the Company. Further, as a condition of employment, during the time Employee is employed by the Company and
continuing after any termination of the Employee’s employment with the Company, Employee agrees to protect and hold in a fiduciary capacity for the benefit of the Company all Confidential Information, as defined below, unless the Employee is
required to disclose Confidential Information pursuant to the terms of a valid and effective order issued by a court of competent jurisdiction or a governmental authority. The Employee shall use Confidential Information solely for the purpose of
carrying out those duties assigned Employee as an employee of the Company and not for any other purpose. The disclosure of Confidential Information to the Employee shall not be construed as granting to the Employee any license under any copyright,

 
trade secret, or any right of ownership or right to use the Confidential Information whatsoever. In the event that Employee is compelled, pursuant to a
subpoena or order of a court or other body having jurisdiction over such matter, to produce any Confidential Information or other information relevant to the Company, Employee agrees to promptly provide the Company with written notice of such
subpoena or order so that the Company may timely move to quash if appropriate. 
 (a) For the purposes of this Agreement, “Confidential
Information” shall mean all information related to the Company’s business that is not generally known to the public. Confidential Information shall include, but shall not be limited to: any financial (whether historical, projections or
forecasts), pricing, cost, business, planning, operations, services, potential services, products, potential products, technical information, intellectual property, trade secrets and/or know-how, formulas, production, purchasing, marketing, sales,
personnel, customer, supplier, or other information of the Company; any papers, data, records, processes, methods, techniques, systems, models, samples, devices, equipment, compilations, invoices, customer lists, or documents of the Company; any
confidential information or trade secrets of any third party provided to the Company in confidence or subject to other use or disclosure restrictions or limitations; this Agreement and its terms; and any other information, written, oral or
electronic, whether existing now or at some time in the future, whether pertaining to current or future developments or prospects, and whether accessed prior to the Employee’s tenure with the Company or to be accessed during Employee’s
future employment or association with the Company, which pertains to the Company’s affairs or interests or with whom or how the Company does business. The Company acknowledges and agrees that Confidential Information shall not include
information which is or becomes publicly available other than as a result of a disclosure by the Employee. 
 (b) The Employee shall promptly
notify the Company if he or she has reason to believe that the unauthorized use, possession, or disclosure of any Confidential Information has occurred or may occur. 
 (c) All physical items containing Confidential Information, including, but not limited to, the business plan, know-how, collection methods and procedures, advertising techniques, marketing plans and methods, sales
techniques, documentation, contracts, reports, letters, notes, any computer media, customer lists and all other information and materials of the Company’s business and operations, shall remain the exclusive and confidential property of the
Company and shall be returned, along with any copies or notes that the Employee made thereof or therefrom, to the Company when the Employee ceases employment with the Company. The Employee further agrees to return copies of any Confidential
Information contained on Employee’s home computer, portable computer or other similar device. Employee also agrees to 

  

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allow the Company, upon reasonable notice and for just cause, access to any home computer, portable computer or other similar device maintained by Employee,
including but not limited to, for the purpose of determining whether said Confidential Information has been misappropriated. The Employee further agrees to promptly return all other property belonging to the Company upon the termination of
Employee’s employment. 
 2. Ownership of Works for Hire. 
 (a) The Employee agrees that any inventions, ideas, developments, methods, improvements, discoveries, innovations, software, works of authorship and any
other intangible property (hereinafter collectively referred to as “Intellectual Property”), whether patentable or not, which are developed, partially developed, considered, contemplated or reduced to practice by the Employee or under his
or her direction or jointly with others during his or her employment with the Company, whether or not during normal working hours or on the premises of the Company, shall be considered “Works for Hire” for the exclusive use and benefit of
the Company. The Employee will make full and prompt disclosure to the Company of all such Works for Hire. The Company shall own all rights to any Works for Hire, including all copyrights and the right to market (or not to market) any such property,
and the Employee agrees to assign and does hereby assign to the Company (or any person or entity designated by the Company) all his or her right, title and interest in and to all Works for Hire and all related patents, patent applications,
copyrights and copyright applications. 
 (b) The Employee agrees to cooperate fully with the Company, both during and after his or her
employment with the Company, with respect to the procurement, maintenance and enforcement of copyrights and patents (both in the United States and foreign countries) relating to Works for Hire. The Employee shall sign all papers, including, without
limitation, copyright applications, patent applications, declarations, oaths, formal assignments, assignment of priority rights, and powers of attorney, which the Company may deem necessary or desirable in order to protect its rights and interests
in any Works for Hire. 
 (c) The Employee specifically acknowledges that his or her compensation and benefits constitute full payment for
any Works for Hire and waives any claim of right to the Company. 
 (d) The Company may, at its election and discretion, waive and/or
relinquish any of its rights of ownership and royalties with respect to any Works for Hire, by agreeing to do so in a written instrument executed by the Company. 
 3. Non-Competition. Except as otherwise provided in this Agreement, without the prior written consent of the Company, the Employee hereby covenants and agrees that at no time 

  

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during the Employee’s employment with Company and for a period of one (1) year immediately following termination of Employee’s employment with
the Company, whether voluntary or involuntary, shall the Employee: 
 (a) directly or indirectly, as an employee, principal, agent,
consultant or otherwise, work for or engage in any capacity in any activities or provide strategic advice to Competitor Businesses. The term Competitor Businesses shall be defined as any business that competes with the Company in the athletic
apparel, footwear or accessories business (for example, and not by way of limitation, Competitor Business includes Nike, Reebok, Adidas or Puma or other athletic brands or athletic retailers, but does not include Wal-Mart, Macy’s or L.L.Bean as
they currently operate), or any other line of business that the Company is or hereafter becomes involved in during the Employee’s employment with the Company; or 
 (b) act in any way, directly or indirectly, with the purpose or effect of diverting or taking away any business, customer, client or any supplier of the Company. 
 Written request for consent to be released from the Non-Competition provisions of this Agreement may be submitted by the Employee to the Company
following the termination of Employee’s employment and must include all available information described in Section 5 below. The Company will respond to the request for such consent within two (2) weeks of the request, except as
provided in Section 5. In the Company’s sole discretion, it may release Employee from the Non-Competition provisions of this Agreement, or reduce the non-competition period from a period of one (1) year immediately following
Employee’s termination to a shorter duration (“Non-Competition Period”), or amend the scope of the Non-Competition provisions. In the event the Company does not release the Employee from the Non-Competition provision, for the duration
of the Non-Competition Period, the Company will pay Employee an amount equal to sixty percent (60%) of Employee’s base salary as of the date of the termination of Employee’s employment (“Non-Competition Payment”), in
accordance with the Company’s customary pay practices in effect at the time each payment is made. The Non-Competition Payment shall be reduced by the amount of any salary received during the Non-Competition Period from employment in any
capacity with an entity that is not a Competitor Business to the extent that any such salary exceeds forty percent (40%) of Employee’s base salary as of the date of Employee’s termination from employment with the Company (annualized
or pro-rated to correspond to the Non-Competition Period). By way of example, assuming that the Non-Competition Period is six (6) months and that Employee’s base salary as of the termination date is $100,000, the Non-Competition Payment
would not be reduced pursuant to subsection (b) herein so long as any salary received during the Non-Competition Period by Employee from an entity that is not a Competitor Business remained under $20,000. 
  

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 4. Non-Solicitation and Non-Interference. The Employee hereby covenants and agrees that at no time
during the Employee’s employment with Company and for a period of one (1) year immediately following termination of Employee’s employment with the Company, whether voluntary or involuntary, shall the Employee: 
 (a) solicit (other than on behalf of the Company) business or contracts for any products or services of the type provided, developed or under development
by the Company during the Employee’s employment by the Company, from or with any person or entity which was a customer of the Company for such products or services, or any prospective customer which the Company had solicited as of, or within
one (1) year prior to, the Employee’s termination of employment with the Company; or directly or indirectly contract with any such customer or prospective customer for any product or service of the type provided, developed or which was
under development by the Company during the Employee’s employment with the Company; or 
 (b) knowingly interfere or attempt to
interfere with any transaction, agreement or business relationship in which the Company was involved during the Employee’s employment with the Company, nor will the Employee directly or indirectly, whether on behalf of himself or any other
person or entity, solicit, recruit or encourage any employee to leave the employ of the Company, nor will Employee hire any employees of the Company, its divisions or its subsidiaries. 
 5. Notification of New Employment. If Employee requests the Company to waive its rights to enforce the noncompetition provisions of
Paragraph 3, Employee acknowledges and agrees that for a period of one (1) year following the date of termination of Employee’s employment with the Company, Employee will inform the Company, prior to the acceptance of any job or any work
as an independent contractor, of the identity of any new employer or other entity to which Employee is providing consulting or other services, along with Employee’s starting date, title, job description, and any other information which the
Company may reasonably request to confirm Employee’s compliance with the terms of this Agreement. If Employee does not provide all information reasonably requested by the Company as provided in this Section, the Company’s time to respond
to a request for release from the Non-Competition provision under Section 3 will be extended to six (6) weeks, or until such time as the information is provided for the Company to make an informed decision. 
 6. Additional Compensation if Termination By Company Without Cause or By Employee For Good Cause. In the event the Company terminates
Employee’s employment without Cause (as defined below), or if Employee terminates his employment for Good Cause 

  

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(as defined below), and provided Employee first signs within 60 days of the date of his termination and does not revoke a general release of claims against
the Company in a form provided by the Company (“Release”), the Company agrees that it will pay Employee an amount equal to one (1) year of Employee’s base salary as in effect on the date of termination, less required
withholdings, payable over the course of one (1) year in accordance with the Company’s regular pay practices, beginning the first regular pay period after the effective date of the Release. Notwithstanding the foregoing, the Company may
not withhold the additional compensation promised by this Paragraph on the grounds that Employee has not signed a general release of claims if Employee has not theretofore been provided with all salary and benefits owed to him for services performed
as of the date of his termination, as well as any remaining benefits or sums owed to Employee under his Offer Letter. The amount paid under this Section 6 will be reduced by any amount paid to Employee under Section 3. The Company shall
have no obligation to make or continue to make any payment under this Section if Employee has materially breached any of his obligations under this Agreement. Nothing in this Agreement changes the “at-will” nature of Employee’s
employment with the Company. 
 As used in this Agreement, “Cause” for Employee’s termination means the occurrence of any of
the following: (a) the Employee’s material and intentional misconduct or material neglect in the performance of his duties; (b) conviction for, or plea of nolo contendere to, any felony, or a misdemeanor (excluding a petty
misdemeanor) involving dishonesty, fraud, financial impropriety, or moral turpitude, or any crime of sufficient import to potentially discredit or adversely affect the Company’s ability to conduct its business in the normal course; (c) the
Employee’s use of illegal drugs; (d) the Employee’s material breach of the Company’s written Code of Ethics and Business Conduct, as in effect from time to time; (e) the Employee’s commission of any act that results in
severe harm to the Company excluding any act taken by the Employee in good faith that he reasonably believed was in the best interests of the Company; (f) the Employee’s material breach of this Agreement, after providing notice and a
reasonable opportunity to cure; or (g) the Employee’s failure to use reasonable efforts to relocate to the Baltimore, Maryland area within the first 6 months of his employment with the Company. 
 As used in this Agreement, “Good Cause” for Employee to terminate his employment means (a) a material diminution in Employee’s
duties, responsibilities or authority or (b) a material reduction in the Employee’s salary, bonus potential or benefits as set forth in the Offer Letter, other than any reduction in salary, bonus potential or benefits generally applied to
other peer executives of the Company. Neither event described above shall constitute Good Cause unless Employee has given written notice to the Company of the existence of the event within 90 

  

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days after the initial occurrence of such event and the Company has not remedied such within 30 days of receipt of such notice. 
 7. Reasonableness of Restrictions. Employee acknowledges and agrees that the restrictions imposed by this Agreement are fair and reasonably
required for the protection of the Company, and will not preclude Employee from becoming gainfully employed following the termination, for any reason, of employment with the Company. The Employee acknowledges that Employee will provide unique
services to the Company and that this covenant has unique, substantial, and immeasurable value to the Company. In the event that the provisions of this Agreement should ever be deemed to exceed the limitations permitted by applicable laws, Employee
and the Company agree that such provisions shall be reformed to the maximum limitations permitted by the applicable laws. The Employee further acknowledges that the decision whether to consent to release Employee from the provisions of this
Agreement is within the sole discretion of the Company. 
 8. Injunctive Relief. Employee acknowledges and agrees that in the event of
a violation or threatened violation of any provision of this Agreement, the Company will sustain irreparable harm and will have the full right to seek injunctive relief, in addition to any other legal remedies available, without the requirement of
posting bond. 
 9. Survivability. This Agreement shall remain binding in the event of the termination, for any reason, of
Employee’s employment with the Company. 
 10. Governing Law. The formation, construction and interpretation of this Agreement
shall at all times and in all respects be governed by the laws of the State of Maryland, without regard to its conflict of laws principles. 
 11. Severable Provisions. The provisions of this Agreement are severable, and if any court determines that any provision of this Agreement is invalid or unenforceable, in whole or in part, any invalidity or unenforceability shall
affect only that provision, and shall not make any other provision of this Agreement invalid or unenforceable; and this Agreement shall be narrowed by the court to the extent required to be valid and enforceable. 
  

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 12. Entire Agreement. This Agreement constitutes the entire agreement between the parties with
respect to the subject matter contained herein, and may not be modified except in a written document signed by each of the parties hereto. No waiver of any breach of any provision of this Agreement shall constitute a waiver of any other breach of
that or any other provision hereof. 
 13. Compliance with Section 409A of the Code. This Agreement is intended to comply with
Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and will be interpreted in a manner intended to comply with Section 409A of the Code. Each payment made under Sections 3 and 6 of this Agreement shall be
designated as a “separate payment” within the meaning of Section 409A of the Code. Notwithstanding anything herein to the contrary, (i) if at the time of termination of employment, Employee is a “specified employee”, as
determined in accordance with procedures adopted by the Company that reflect the requirements of Section 409A(a)(2)(B)(i) of the Code (and any applicable guidance thereunder) and the deferral of the commencement of any payments or benefits
otherwise payable hereunder as a result of such termination of employment is necessary to comply with Section 409A of the Code (after giving effect to all relevant exceptions including the exception for amounts qualifying as “short term
deferrals”), then the Company shall defer the commencement of payment of any such payments or benefits hereunder (without any reduction in such payments or benefits ultimately paid or provided) and accumulate such amounts with interest at a
reasonable rate until the first day of the seventh month following the termination of the employment (or, if earlier, the date of the Employee’s death) at which time the accumulated amounts with interest shall be paid; and (ii) if any
other payments of money or other benefits due to Employee hereunder could result in a violation of Section 409A of the Code, such payments or other benefits shall be deferred if deferral will make such payment or other benefits compliant under
Section 409A of the Code, or otherwise such payment or other benefits shall be restructured, to the extent possible, in a manner, determined by the Company, that does not cause such a violation. 
  

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 IN WITNESS WHEREOF, the parties have executed the Agreement as of the date first above written. 
  

					
		    	UNDER ARMOUR, INC.
			
		    	By:	 	 /s/ Wayne A. Marino

		    	Name:	 	 Wayne A. Marino

		    	Title:	 	 Chief Operating Officer

			
	WITNESS:	    		 	
		
	 [left blank]
	    	 /s/ David McCreight

		    	David McCreight

  

 9Exhibit 10.02

 Exhibit 10.02 
 FORM OF OPTION GRANT AGREEMENT 
 THIS OPTION GRANT AGREEMENT, made as of the
     day of             , 2008 between UNDER ARMOUR, INC. (the “Company”) and
                     (the “Grantee”). 
 WHEREAS, the Company has adopted and maintains the 2005 Omnibus Long-Term Incentive Plan (the “Plan”), attached hereto as Attachment A, or otherwise delivered or made available to Grantee, to promote the
interests of the Company and its stockholders by providing key employees and others with an appropriate incentive to encourage them to continue in the employ or service of the Company and to improve the growth and profitability of the Company;

 WHEREAS, the Plan provides for the grant to Grantees of Options to purchase Stock of the Company; 
 NOW, THEREFORE, in consideration of the premises and the mutual covenants hereinafter set forth, the parties hereto hereby agree as follows: 

1. Grant of Options. Pursuant to, and subject to, the terms and conditions set forth herein and in the Plan, the Company hereby grants to the Grantee a
non-qualified stock option (the “Option”) with respect to              shares of Stock of the Company. 
 2. Grant Date. The Grant Date of the Option hereby granted is                     , 2008.

 3. Incorporation of Plan. All terms, conditions and restrictions of the Plan are incorporated herein and made part hereof as if stated
herein. If there is any conflict between the terms and conditions of the Plan and this Option Grant Agreement, the terms and conditions of this Option Grant Agreement, as interpreted by the Committee in its sole discretion, shall govern, unless
explicitly provided to the contrary in the Plan or this Option Grant Agreement. Unless otherwise indicated herein, all capitalized terms used herein shall have the meaning given to such terms in the Plan. 
 4. Option Price. The exercise price per share of Stock underlying the Option granted hereby is $        .

 5. Vesting. Except as provided in Section 9 and unless the Option has earlier terminated pursuant to this Agreement, the Option shall
become exercisable as follows provided the Grantee remains employed by the Company on each such date: 
 (a) 25% of the shares of Stock underlying the Option shall become exercisable following the year in which the Operating Income for the Company is at least equal to
$         million (provided such year is no later than         ), with one-half of the shares of Stock exercisable on February 15th of the year following the year in which such Operating Income level is achieved and one-half of the shares of Stock exercisable on
February 15th of the second year following the year in which such Operating Income level is achieved; 
 (b) 25% of the shares of Stock underlying the Option shall become exercisable following the year
in which the Operating Income for the Company is at least equal to $         million (provided such year is no later than         ), with one-half of the
shares of Stock exercisable on February 15th of the year following the year in which such Operating Income level is achieved and 

 
one-half of the shares of Stock exercisable on February 15th of the second year following the year in which such Operating Income level is achieved; 
 (c) 25% of the shares of Stock underlying the Option shall become exercisable following the year in which the Operating Income for the Company is at least equal to
$         million (provided such year is no later than         ), with one-half of the shares of Stock exercisable on February 15th of the year following the year in which such Operating Income level is achieved and one-half of the shares of Stock exercisable on
February 15th of the second year following the year in which such Operating Income level is achieved; and 
 (d) 25% of the shares of Stock underlying the Option shall become exercisable following the year
in which the Operating Income for the Company is at least equal to $         million (provided such year is no later than         ), with all of the shares
of Stock exercisable on February 15th of the year following the year in which such Operating Income level is achieved. 
 As used in this Section 5, the term “Operating Income” shall mean the Company’s income from operations as reported in the Company’s audited
financial statements prepared in accordance with generally accepted accounting principles excluding the impact of any generally accepted accounting principle changes implemented after the date hereof. 
 6. Term. Unless the Option has earlier terminated pursuant to the provisions of this Option Grant Agreement or the Plan, all unexercised portions of the
Option shall terminate, and all rights to purchase shares of stock thereunder shall cease, upon the expiration of ten years from the Grant Date. 
 7.
Employment Confidentiality Agreement. As a condition to the grant of the Option, Grantee shall have executed and become a party to the Employee Confidentiality, Non-Competition and Non-Solicitation Agreement by and between Grantee and the
Company (the “Confidentiality, Non-Compete and Non-Solicitation Agreement”) attached hereto as Attachment B. 
 8. Forfeiture. If
Grantee should take any actions in violation of the Confidentiality, Non-Competition and Non-Solicitation Agreement, or in violation of any non-competition agreement entered into between the Grantee and the Company, it will be considered grounds for
termination for Cause as defined in Section 9(a) of this Agreement, and all unexercised portions of the Option, whether vested or not, will terminate, be forfeited and will lapse, as provided in Section 9(a). 
 9. Termination of Service. 
 (a)
Termination of Service for Cause. Unless the Option has earlier terminated pursuant to the provisions of this Option Grant Agreement or the Plan, all unexercised portions of the Option, whether vested or unvested, will terminate
and be forfeited upon a termination of the Grantee’s Service for Cause. For purposes of this Option Grant Agreement only, “Cause” shall be defined as any of the following: 
  

	 	i.	the Grantee’s material misconduct or neglect in the performance of his duties; 

  

	 	ii.	the Grantee’s conviction for, or plea of nolo contendere to any felony, or a misdemeanor (excluding a petty misdemeanor) involving dishonesty, fraud, financial impropriety, or
moral turpitude, or any crime of sufficient import to potentially discredit or adversely affect the Company’s ability to conduct its business in the normal course; 

  

	 	iii.	the Grantee’s use of illegal drugs; 

	 	iv.	the Grantee’s material breach of the Company’s written Code of Ethics and Business Conduct, as in effect from time to time; 

  

	 	v.	the Grantee’s material breach of this Agreement, including but not limited to breach of the Confidentiality, Non-Compete and Non-Solicitation Agreement attached hereto as
Attachment B; or 

  

	 	vi.	Grantee’s commission of any act that results in severe harm to the Company excluding any act taken by the Grantee in good faith that he reasonably believed was in the best
interest of the Company. 

 (b) Termination of Service other than for Cause. Unless the Option has earlier
terminated pursuant to the provisions of this Option Grant Agreement or the Plan, the vested portion of the Option shall terminate one hundred eighty (180) days following the termination of the Grantee’s Service due to death or Disability
and thirty (30) days following the termination of the Grantee’s Service for any other reason other than for Cause. The Grantee (or the Grantee’s guardian, legal representative, executor, personal representative or the person to whom
the Option shall have been transferred by will or the laws of descent and distribution, as the case may be) may exercise all or any part of the vested portion of the Option during such post termination of employment period, but not later than the
end of the term of the Option. Any portion of the Option which is unvested as of the date of termination of service shall immediately terminate. 
 Nothing in this Agreement shall be construed as a contract of employment between the Company (or an affiliate) and Grantee, or as a contractual right of Grantee to continue in the employ of the Company (or an affiliate), or as a
limitation of the right of the Company (or an affiliate) to discharge Grantee at any time for any reason, including reasons other than for Cause as defined herein. 
 10. Effect of a Change in Control. In the event of a Change in Control, any portion of the Option which would become vested within the twelve months following the effective date of such Change in Control
had the Grantee remained employed with the Company during such twelve month period shall be immediately vested on such Change in Control. 
 11. Delays
or Omissions. No delay or omission to exercise any right, power or remedy accruing to any party hereto upon any breach or default of any party under this Option Grant Agreement, shall impair any such right, power or remedy of such party nor
shall it be construed to be a waiver of any such breach or default, or an acquiescence therein, or of or in any similar breach or default thereafter occurring nor shall any waiver of any single breach or default be deemed a waiver of any other
breach or default theretofore or thereafter occurring. Any waiver, permit, consent or approval of any kind or character on the part of any party of any breach or default under this Option Grant Agreement, or any waiver on the part of any party or
any provisions or conditions of this Option Grant Agreement, shall be in writing and shall be effective only to the extent specifically set forth in such writing. 
 12. Transferability of Options. During the lifetime of the Grantee, only the Grantee or a Family Member who received all or part of the Option, not for value, (or, in the event of legal incapacity or incompetence, the
Grantee’s guardian or legal representative) may exercise the Option. The Option shall not be assignable or transferable by the Grantee other than to a Family Member, not for value, or by will or the laws of descent and distribution. 

13. Manner of Exercise. The vested portion of the Option may be exercised, in whole or in part, by delivering written notice to the Stock Option
Administrator designated by the Company. Such notice may be in electronic or other form as used by the Stock Option Administrator in its ordinary course of business and as may be amended from time to time, and shall: 

 (a) state the election to exercise the Option and the number of shares in respect of which it is being
exercised; 
 (b) be accompanied by (i) cash, check, bank draft or money order in the amount of the Option Price payable to the order of
the Stock Option Administrator designated by the Company; or (ii) certificates for shares of the Company’s Stock (together with duly executed stock powers) or other written authorization as may be required by the Company to transfer shares
of such Stock to the Company, with an aggregate value equal to the Option Price of the Stock being acquired; or (iii) a combination of the consideration described in clauses (i) and (ii). Grantee may transfer Stock to pay the Option Price
for Stock being acquired pursuant to clauses (ii) and (iii) above only if such transferred Stock (x) was acquired by the Grantee in open market transactions, (y) has been owned by Grantee for longer than six months, and
(z) the Grantee is not subject to any other restrictions on transferring Company securities pursuant to Company policy or federal law. 
 In addition to
the exercise methods described above and subject to other restrictions which may apply, the Grantee may exercise the Option through a procedure known as a “cashless exercise,” whereby the Grantee delivers to the Stock Option Administrator
designated by the Company an irrevocable notice of exercise in exchange for the Company issuing shares of the Company’s Stock subject to the Option to a broker previously designated or approved by the Company, versus payment of the Option Price
by the broker to the Company, to the extent permitted by the Committee or the Company and subject to such rules and procedures as the Committee or the Company may determine. 
 14. Integration. This Option Grant Agreement, and the other documents referred to herein or delivered pursuant hereto, which form a part hereof contain the entire understanding of the parties with
respect to its subject matter and there are no restrictions, agreements, promises, representations, warranties, covenants or undertakings with respect to the subject matter hereof other than those expressly set forth in such documents. This Option
Grant Agreement and the Plan supersede all prior agreements and understandings between the parties with respect to its subject matter. 
 15.
Electronic Delivery. The Company may choose to deliver certain statutory materials relating to the Plan in electronic form. By accepting this grant Grantee agrees that the Company may deliver the Plan prospectus and the Company’s annual
report to Grantee in an electronic format. If at any time Grantee would prefer to receive paper copies of these documents, as Grantee is entitled to receive, the Company would be pleased to provide copies. Grantee should contact
                                        
to request paper copies of these documents. 
 16. Counterparts. This Option Grant Agreement may be executed in two or more counterparts, each
of which shall be deemed an original, but all of which shall constitute one and the same instrument. 
 17. Governing Law. This Option Grant
Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Maryland without regard to the provisions thereof governing conflict of laws. 
 18. Grantee Acknowledgment. The Grantee hereby acknowledges receipt of a copy of the Plan and that the Option is subject to the terms of the Plan. The Participant hereby acknowledges that all decisions,
determinations and interpretations of the Committee in respect of the Plan, this Option Grant Agreement and the Option shall be final and conclusive. 

 IN WITNESS WHEREOF, the Company has caused this Option Grant Agreement to be duly executed by its duly
authorized officer and said Participant has hereunto signed this Option Grant Agreement on his own behalf, thereby representing that he has carefully read and understands this Option Grant Agreement and the Plan as of the day and year first written
above. 
  

							
		 		  	UNDER ARMOUR, INC.
				
		 		  	By:	 	  

			
	WITNESS:	 		  	GRANTEE

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