Document:

EX-10.10

 Exhibit 10.10 

EVOLENT HEALTH, INC. 
 2015 OMNIBUS
INCENTIVE COMPENSATION PLAN 
 SECTION 1. Purpose. The purpose of this Evolent Health, Inc. 2015 Omnibus Incentive Compensation
Plan (the “Plan”) is to promote the interests of Evolent Health, Inc. and its stockholders by (a) attracting and retaining exceptional directors, officers, employees and consultants (including prospective directors, officers,
employees and consultants) of the Company (as defined below) and its Affiliates (as defined below), including Evolent Health LLC, and (b) enabling such individuals to participate in the long-term growth and financial success of the Company.

 SECTION 2. Definitions. As used herein, the following terms shall have the meanings set forth below: 

“Affiliate” means (a) any entity that, directly or indirectly, is controlled by, controls or is under common control with, the
Company and/or (b) any entity in which the Company has a significant equity interest, in either case as determined by the Committee. For the avoidance of doubt, Affiliates of the Company shall include Evolent Health LLC and its Subsidiaries.

 “Award” means any award that is permitted under Section 6 and granted under the Plan. 

“Applicable Exchange” means the New York Stock Exchange or any other national stock exchange or quotation system on which the Shares
may be listed or quoted. 
 “Award Agreement” means any written or electronic agreement, contract or other instrument or document
evidencing any Award, which may (but need not) require execution or acknowledgment by a Participant. 
 “Board” means the Board of
Directors of the Company. 
 “Cash Incentive Award” means an Award (a) granted pursuant to Section 6(g), (b) that
is settled in cash and (c) the value of which is set by the Committee and is not calculated by reference to the Fair Market Value of a Share. 

“Cause” shall (a) have the meaning set forth in an Award Agreement or, if the Participant is party to a written employment
or services agreement with the Company that includes a definition of “cause”, the meaning set forth in such agreement or (b) if there is no definition set forth in an Award Agreement or applicable employment or services agreement,
mean: 
 (i) the Participant’s failure to perform any of the Participant’s material duties to the Company,
including, without limitation, a breach of the Company’s code of ethics, conflict of interest or employment policies; 

(ii) the Participant’s misappropriation of a material business opportunity of the Company, including securing or
attempting to secure any personal profit in connection with any transaction entered into on behalf of the Company; 

 (iii) the Participant’s misappropriation (or attempted misappropriation) of
any Company funds or property; 
 (iv) the Participant’s conviction of, indictment for (or its procedural equivalent),
or entering of a guilty plea or plea of no contest with respect to (or its procedural equivalent), a felony or any other crime involving dishonesty or theft of property; 

(v) the Participant’s commission of one or more acts of sexual harassment in violation of applicable federal, state or
local laws; 
 (vi) the Participant’s use of illegal drugs, abuse of controlled substances, or abuse or excessive use of
alcohol, which (in the case of alcohol use) interferes with or affects the Participant’s responsibilities to the Company or which reflects negatively upon the integrity or reputation of the Company; or 

(vii) the Participant’s breach of the terms of any employment agreement, confidentiality agreement, non-competition
agreement or non-solicitation agreement or any other material agreement between the Participant and the Company, after giving effect to the notification provisions, if any, and the mechanisms to remedy or cure such breach as described in any
such agreement. 
 The Company shall determine whether conduct constituting “Cause” has occurred for purposes of any Award. For purposes of
this definition, (x) “Company” includes any Subsidiary or Affiliate and (y) “Cause” is not limited to events that have occurred before a termination of the Participant’s employment or services with the Company, nor
is it necessary that the Company’s finding of “Cause” occur prior to termination of such employment or services with the Company. 

“Change of Control” shall (a) have the meaning set forth in an Award Agreement; provided, however, that
except in the case of a transaction similar to a transaction described in subparagraph (b)(iii) below, any definition of Change of Control set forth in an Award Agreement shall provide that a Change of Control shall not occur until consummation or
effectiveness of a change in control of the Company, rather than upon the announcement, commencement, stockholder approval or other potential occurrence of any event or transaction that, if completed, would result in a change in control of the
Company, or (b) if there is no definition set forth in an Award Agreement, mean the occurrence of any of the following events: 

(i) during any period of 24 consecutive calendar months, individuals who were directors of the Company on the first day of such
period (the “Incumbent Directors”) cease for any reason to constitute a majority of the Board; provided, however, that any individual becoming a director subsequent to the first day of such period whose election, or
nomination for election, by the Company’s 

  
 2 

 
stockholders was made pursuant to the Stockholders Agreement or approved by a vote of at least a majority of the Incumbent Directors shall be considered as though such individual were an
Incumbent Director, but excluding, for purposes of this proviso, any such individual whose initial assumption of office occurs as a result of an actual or threatened proxy contest with respect to election or removal of directors or other actual or
threatened solicitation of proxies or consents by or on behalf of a “person” (as used in Section 13(d) of the Exchange Act) (a “Person”), in each case other than the Board; 

(ii) the consummation of (A) a merger, consolidation, statutory share exchange or similar form of corporate transaction
involving (x) the Company or (y) any of its Subsidiaries, but in the case of this clause (y) only if Company Voting Securities (as defined below) are issued or issuable (each of the events referred to in this clause (A) being
hereinafter referred to as a “Reorganization”) or (B) the sale or other disposition of all or substantially all the assets of the Company to an entity that is not an Affiliate (a “Sale”), in each case, if such Reorganization
or Sale requires the approval of the Company’s stockholders under the law of the Company’s jurisdiction of organization (whether such approval is required for such Reorganization or Sale or for the issuance of securities of the Company in
such Reorganization or Sale), unless, immediately following such Reorganization or Sale, (1) all or substantially all the Persons who were the “beneficial owners” (as used in Rule 13d-3 under the Exchange Act (or a successor rule
thereto)) of the securities eligible to vote for the election of the Board (“Company Voting Securities”) outstanding immediately prior to the consummation of such Reorganization or Sale continue to beneficially own, directly or indirectly,
more than 50% of the combined voting power of the then outstanding voting securities of the corporation or other entity resulting from such Reorganization or Sale (including a corporation or other entity that, as a result of such transaction, owns
the Company or all or substantially all the Company’s assets either directly or through one or more subsidiaries) (the “Continuing Company”) in substantially the same proportions as their ownership, immediately prior to the
consummation of such Reorganization or Sale, of the outstanding Company Voting Securities (excluding, for such purposes, any outstanding voting securities of the Continuing Company that such beneficial owners hold immediately following the
consummation of the Reorganization or Sale as a result of their ownership prior to such consummation of voting securities of any corporation or other entity involved in or forming part of such Reorganization or Sale other than the Company),
(2) no Person (excluding any employee benefit plan (or related trust) sponsored or maintained by the Continuing Company or any entity controlled by the Continuing Company) beneficially owns, directly or indirectly, 50% or more of the combined
voting power of the then outstanding voting securities of the Continuing Company and (3) at least 50% of the members of the board of directors of the Continuing Company were Incumbent Directors at the time of the execution of the definitive
agreement providing for such Reorganization or Sale or, in the absence of such an agreement, at the time at which approval of the Board was obtained for such Reorganization or Sale; 

  
 3 

 (iii) the stockholders of the Company approve a plan of complete liquidation or
dissolution of the Company unless such liquidation or dissolution is part of a transaction or series of transactions described in paragraph (ii) above that does not otherwise constitute a Change of Control; or 

(iv) any Person, corporation or other entity or “group” (as used in Section 13(d) of the Exchange Act) (other
than (A) the Company, (B) any trustee or other fiduciary holding securities under an employee benefit plan of the Company or an Affiliate or (C) any entity owned, directly or indirectly, by the stockholders of the Company in
substantially the same proportions as their ownership of the voting power of the Company Voting Securities) becomes the beneficial owner, directly or indirectly, of securities of the Company representing 50% or more of the combined voting power of
the Company Voting Securities; provided, however, that for purposes of this subparagraph (iv), the following acquisitions shall not constitute a Change of Control: (w) any acquisition directly from the Company, (x) any
acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or an Affiliate (y) any acquisition by an underwriter temporarily holding such Company Voting Securities pursuant to an offering of such
securities or any acquisition by a pledgee of Company Voting Securities holding such securities as collateral or temporarily holding such securities upon foreclosure of the underlying obligation or (z) any acquisition pursuant to a
Reorganization or Sale that does not constitute a Change of Control for purposes of subparagraph (ii) above. 
 “Code” means
the Internal Revenue Code of 1986, as amended from time to time, or any successor statute thereto, and the Treasury Regulations. 

“Committee” means the Compensation Committee of the Board or a subcommittee thereof, or such other committee of the Board as may be
designated by the Board to administer the Plan. 
 “Company” means Evolent Health, Inc., a corporation organized under the laws of
Delaware, together with any successor thereto. 
 “Deferred Share Unit” means a deferred share unit Award that represents an
unfunded and unsecured promise to deliver Shares in accordance with the terms of the applicable Award Agreement. 
 “Exchange Act”
means the Securities Exchange Act of 1934, as amended from time to time, or any successor statute thereto, and the regulations promulgated thereunder. 

“Exercise Price” means (a) in the case of each Option, the price specified in the applicable Award Agreement as the
price-per-Share at which Shares may be purchased pursuant to such Option or (b) in the case of each SAR, the price specified in the applicable Award Agreement as the reference price-per-Share used to calculate the amount payable to the
Participant pursuant to such SAR. 

  
 4 

 “Fair Market Value” means, except as otherwise provided in the applicable Award
Agreement, (a) with respect to any property other than Shares, the fair market value of such property determined by such methods or procedures as shall be established from time to time by the Committee and (b) with respect to Shares, as of
any date, (i) the closing per-share sales price of Shares as reported by the Applicable Exchange for such stock exchange for such date or if there were no sales on such date, on the closest preceding date on which there were sales of Shares or
(ii) in the event there shall be no public market for the Shares on such date, the fair market value of the Shares as determined in good faith by the Committee consistent with the requirements of Sections 409A and 422 of the Code, to the
extent applicable. 
 “Incentive Stock Option” means an option to purchase Shares from the Company that (a) is granted under
Section 6(b) of the Plan and (b) is intended to qualify for special Federal income tax treatment pursuant to Sections 421 and 422 of the Code, as now constituted or subsequently amended, or pursuant to a successor provision of the
Code, and which is so designated in the applicable Award Agreement. 
 “Independent Director” means a member of the Board
(a) who is neither an employee of the Company nor an employee of any Affiliate, and (b) who, at the time of acting, is a “Non-Employee Director” under Rule 16b-3. 

“Nonqualified Stock Option” means an option to purchase Shares from the Company that (a) is granted under Section 6(b) of
the Plan and (b) is not an Incentive Stock Option. 
 “Option” means an Incentive Stock Option or a Nonqualified Stock Option
or both, as the context requires. 
 “Participant” means any director, officer, employee or consultant (including any prospective
director, officer, employee or consultant) of the Company or its Affiliates, including, for the avoidance of doubt, Evolent Health LLC, who is eligible for an Award under Section 5 and who is selected by the Committee to receive an Award under
the Plan or who receives a Substitute Award pursuant to Section 4(c). 
 “Performance Compensation Award” means any Award
designated by the Committee as a Performance Compensation Award pursuant to Section 6(e) of the Plan. 
 “Performance
Criteria” means the criterion or criteria that the Committee shall select for purposes of establishing the Performance Goal(s) for a Performance Period with respect to any Performance Compensation Award or Performance Unit or, if applicable,
any Cash Incentive Award. 
 “Performance Formula” means, for a Performance Period, the one or more formulas applied against the
relevant Performance Goal to determine, with regard to the Performance Compensation Award or Performance Unit or, if applicable, the Cash Incentive Award of a particular Participant, whether all, some portion but less than all, or none of such Award
has been earned for the Performance Period. 

  
 5 

 “Performance Goal” means, for a Performance Period, the one or more goals established
by the Committee for the Performance Period based upon the Performance Criteria. 
 “Performance Period” means the one or more
periods of time as the Committee may select over which the attainment of one or more Performance Goals will be measured for the purpose of determining a Participant’s right to and the payment of a Performance Compensation Award or Performance
Unit or, if applicable, a Cash Incentive Award. 
 “Performance Unit” means an Award under Section 6(f) of the Plan that has
a value set by the Committee (or that is determined by reference to a valuation formula specified by the Committee or the Fair Market Value of Shares), which value may be paid to the Participant by delivery of such property as the Committee shall
determine, including without limitation, cash or Shares, or any combination thereof, upon achievement of such Performance Goals during the relevant Performance Period as the Committee shall establish at the time of such Award or thereafter. 

“Plan” shall have the meaning specified in Section 1. 

“Restricted Share” means a Share that is granted under Section 6(d) of the Plan that is subject to certain transfer
restrictions, forfeiture provisions and/or other terms and conditions specified herein and in the applicable Award Agreement. 

“RSU” means a restricted stock unit Award that is granted under Section 6(d) of the Plan and is designated as such in the
applicable Award Agreement and that represents an unfunded and unsecured promise to deliver Shares, cash, other securities, other Awards or other property in accordance with the terms of the applicable Award Agreement. 

“Rule 16b-3” means Rule 16b-3 as promulgated and interpreted by the SEC under the Exchange Act or any successor rule or
regulation thereto as in effect from time to time. 
 “SAR” means a stock appreciation right Award that is granted under
Section 6(c) of the Plan and that represents an unfunded and unsecured promise to deliver Shares, cash, other securities, other Awards or other property equal in value to the excess, if any, of the Fair Market Value per Share on the date of
exercise of the SAR over the Exercise Price per Share of the SAR, subject to the terms of the applicable Award Agreement. 
 “SEC”
means the Securities and Exchange Commission or any successor thereto and shall include the staff thereof. 
 “Shares” means
shares of Class A Common Stock of the Company, $0.01 par value, or such other securities of the Company (a) into which such shares shall be changed by reason of a recapitalization, merger, consolidation, split-up, combination, exchange of
shares or other similar transaction or (b) as may be determined by the Committee pursuant to Section 4(b). 
 “Stockholders
Agreement” means that a certain stockholders agreement by and among the Company, The Advisory Board, TPG Growth II BDH, L.P., TPG Eagle Holdings L.P. and UPMC, dated as of
[                ], 2015. 

  
 6 

 “Subsidiary” means any entity in which the Company, directly or indirectly, possesses
fifty percent (50%) or more of the total combined voting power of all classes of its stock. 
 “Substitute Awards” shall have
the meaning specified in Section 4(c). 
 “Treasury Regulations” means all proposed, temporary and final regulations
promulgated under the Code, as such regulations may be amended from time to time (including corresponding provisions of succeeding regulations). 

“Unrestricted Pool” means 75,000 Shares available for issuance under the Plan pursuant to Section 4. 

SECTION 3. Administration. (a) Composition of the Committee. The Plan shall be administered by the Committee, which shall
be composed of one or more directors, as determined by the Board; provided that, to the extent necessary to comply with the rules of the Applicable Exchange and Rule 16b-3 and to satisfy any applicable requirements of Section 162(m) of
the Code and any other applicable laws or rules, the Committee shall be composed of two or more directors, all of whom shall be Independent Directors and all of whom shall (i) qualify as “outside directors” under Section 162(m)
of the Code and (ii) meet the independence requirements of the Applicable Exchange. 
 (b) Authority of the Committee. Subject to
the terms of the Plan and applicable law, and in addition to the other express powers and authorizations conferred on the Committee by the Plan, the Committee shall have sole and plenary authority to administer the Plan, including the authority to
(i) designate Participants, (ii) determine the type or types of Awards to be granted to a Participant, (iii) determine the number of Shares or dollar value to be covered by, or with respect to which payments, rights or other matters
are to be calculated in connection with, Awards, (iv) determine the terms and conditions of any Awards, (v) determine the vesting schedules of Awards (which, except for Awards relating to a number of Shares not to exceed the Unrestricted
Pool and Awards subject to vesting in whole or part based on performance criteria, shall provide for full vesting no earlier than 12 months after the applicable grant date, subject to any accelerated vesting and/or exercisability, as applicable,
determined by the Committee in an Award Agreement, the Plan or any other applicable arrangement to apply upon the occurrence of a specified event) and, if certain performance criteria must be attained in order for an Award to vest or be settled or
paid, establish such performance criteria and certify whether, and to what extent, such performance criteria have been attained, (vi) determine whether, to what extent and under what circumstances Awards may be settled or exercised in cash,
Shares, other securities, other Awards or other property, or canceled, forfeited or suspended and the method or methods by which Awards may be settled, exercised, canceled, forfeited or suspended, (vii) determine whether, to what extent and
under what circumstances cash, Shares, other securities, other Awards, other property and other amounts payable with respect to an Award shall be deferred either automatically or at the election of the holder thereof or of the Committee,
(viii) interpret, administer, reconcile any inconsistency in, correct any default in and/or supply any omission in, the Plan and any instrument or agreement relating to, or Award made under, the Plan,

  
 7 

 
(ix) establish, amend, suspend or waive such rules and regulations and appoint such agents as it shall deem appropriate for the proper administration of the Plan, (x) accelerate the
vesting or exercisability of, payment for or lapse of restrictions on, Awards, (xi) amend an outstanding Award or grant a replacement Award for an Award previously granted under the Plan if, in its sole discretion, the Committee determines that
(A) the tax consequences of such Award to the Company or the Participant differ from those consequences that were expected to occur on the date the Award was granted or (B) clarifications or interpretations of, or changes to, tax law or
regulations permit Awards to be granted that have more favorable tax consequences than initially anticipated and (xii) make any other determination and take any other action that the Committee deems necessary or desirable for the administration
of the Plan. 
 (c) Committee Decisions. Unless otherwise expressly provided in the Plan, all designations, determinations,
interpretations and other decisions under or with respect to the Plan or any Award shall be within the sole and plenary discretion of the Committee, may be made at any time and shall be final, conclusive and binding upon all Persons, including the
Company, any Affiliate, any Participant, any holder or beneficiary of any Award and any stockholder. 
 (d) Indemnification. No member
of the Board, the Committee or any employee of the Company (each such person, a “Covered Person”) shall be liable for any action taken or omitted to be taken or any determination made in good faith with respect to the Plan or any Award.
Each Covered Person shall be indemnified and held harmless by the Company from and against (i) any loss, cost, liability or expense (including attorneys’ fees) that may be imposed upon or incurred by such Covered Person in connection with
or resulting from any action, suit or proceeding to which such Covered Person may be a party or in which such Covered Person may be involved by reason of any action taken or omitted to be taken under the Plan or any Award Agreement and (ii) any
and all amounts paid by such Covered Person, with the Company’s approval, in settlement thereof, or paid by such Covered Person in satisfaction of any judgment in any such action, suit or proceeding against such Covered Person; provided
that the Company shall have the right, at its own expense, to assume and defend any such action, suit or proceeding, and, once the Company gives notice of its intent to assume the defense, the Company shall have sole control over such defense with
counsel of the Company’s choice. The foregoing right of indemnification shall not be available to a Covered Person to the extent that a court of competent jurisdiction in a final judgment or other final adjudication, in either case not subject
to further appeal, determines that the acts or omissions of such Covered Person giving rise to the indemnification claim resulted from such Covered Person’s bad faith, fraud or willful criminal act or omission or that such right of
indemnification is otherwise prohibited by law or by the Company’s Amended and Restated Certificate of Incorporation and the Amended and Restated By-Laws, in each case, as may be amended from time to time. The foregoing right of indemnification
shall not be exclusive of any other rights of indemnification to which Covered Persons may be entitled under the Company’s Amended and Restated Certificate of Incorporation or Amended and Restated Bylaws, as a matter of law, or otherwise, or
any other power that the Company may have to indemnify such persons or hold them harmless. 

  
 8 

 (e) Delegation of Authority to Senior Officers. Subject to applicable law, the Committee
may delegate, on such terms and conditions as it determines in its sole and plenary discretion, to one or more senior officers of the Company, the authority to make grants of Awards to officers (other than any officer subject to Section 16 of
the Exchange Act), employees and consultants of the Company and its Affiliates (including any prospective officer (other than any such officer who is expected to be subject to Section 16 of the Exchange Act), employee or consultant) and all
necessary and appropriate decisions and determinations with respect thereto. In the event of any delegation described in the preceding sentence, the term “Committee”, as used herein, shall include the senior officer or officers so
delegated to the extent of such delegation. 
 (f) Awards to Independent Directors. Notwithstanding anything to the contrary contained
herein, the Board may, in its sole and plenary discretion, at any time and from time to time, grant Awards to Independent Directors or administer the Plan with respect to such Awards. In any such case, the Board shall have all the authority and
responsibility granted to the Committee herein. 
 SECTION 4. Shares Available for Awards; Cash Payable Pursuant to Awards.
(a) Shares and Cash Available. (i) Subject to adjustment as provided in Section 4(b), the maximum aggregate number of Shares that may be delivered pursuant to Awards granted under the Plan, shall be equal to 1,500,000 (the
“Plan Share Limit”). 
 (ii) Subject to adjustment as provided in Section 4(b), each Share with respect to which an Award
denominated in Shares is granted under the Plan shall reduce the Plan Share Limit by one Share. Upon exercise of a stock-settled SAR, each Share with respect to which such stock-settled SAR is exercised shall be counted as one Share against the Plan
Share Limit, regardless of the number of Shares actually delivered upon settlement of such stock-settled SAR. Awards that are required to be settled in cash will not reduce the Plan Share Limit. Subject to adjustment as provided in
Section 4(b), the maximum aggregate number of Shares that may be delivered pursuant to Incentive Stock Options granted under the Plan shall be equal to 1,500,000 (such amount, the “Plan ISO Limit”). 

(iii) If any Award granted under the Plan is (A) forfeited, or otherwise expires, terminates or is canceled without the delivery of all
Shares subject thereto, or (B) is settled other than wholly by delivery of Shares (including cash settlement), then, in the case of clauses (A) and (B), the number of Shares subject to such Award that were not issued with respect to such
Award will not be treated as issued for purposes of reducing the Plan Share Limit. For the avoidance of doubt, no Shares that are surrendered or tendered to the Company in payment of the Exercise Price of an Option or any taxes required to be
withheld in respect of an Award shall again become available to be delivered pursuant to Awards granted under the Plan. 
 (iv) With respect
to Awards that are intended to qualify as “qualified performance-based compensation” under Section 162(m) of the Code, subject to adjustment as provided in Section 4(b), (A) in the case of Awards that are settled in Shares,
the maximum aggregate number of Shares with respect to which Awards may be granted in any fiscal year of the Company under the Plan (1) to any Participant shall be 1,250,000 (the “Annual Individual Plan Share Limit”), (B) in the
case of Awards that are 

  
 9 

 
settled in cash based on the Fair Market Value of a Share, the maximum aggregate amount of cash that may be paid pursuant to Awards granted to any Participant in any fiscal year of the Company
under the Plan shall be equal to the per-Share Fair Market Value as of the relevant vesting, payment or settlement date multiplied by the Annual Individual Plan Share Limit, and (C) in the case of all Awards to Participants (other than
Independent Directors) other than those described in clauses (A) And (B), the maximum aggregate amount of cash and other property (valued at its Fair Market Value) other than Shares that may be paid or delivered pursuant to Awards under the
Plan to any Participant in any fiscal year of the Company shall be equal to $5,000,000. 
 (v) Subject to adjustment as provided in
Section 4(b), (A) in the case of Awards that are settled in Shares, the maximum aggregate number of Shares with respect to which Awards may be granted in any fiscal year of the Company under the Plan and to any Independent Director shall
be 125,000 (the “Annual Independent Director Plan Share Limit”), (B) in the case of Awards that are settled in cash based on the Fair Market Value of a Share, the maximum aggregate amount of cash that may be paid pursuant to Awards
granted to any Independent Director in any fiscal year of the Company under the Plan shall be equal to the per-Share Fair Market Value as of the relevant vesting, payment or settlement date multiplied by the Annual Independent Director Plan Share
Limit, and (C) in the case of all Awards to Independent Directors other than those described in clauses (A) And (B), the maximum aggregate amount of cash and other property (valued at its Fair Market Value) other than Shares that may be
paid or delivered pursuant to Awards under the Plan to any Independent Director in any fiscal year of the Company shall be equal to $500,000. 

(b) Adjustments for Changes in Capitalization and Similar Events. (i) In the event of any extraordinary dividend or other
extraordinary distribution (whether in the form of cash, Shares, other securities or other property), recapitalization, rights offering, stock split, reverse stock split, split-up or spin-off, the Committee shall equitably adjust any or all of
(A) the number of Shares or other securities of the Company (or number and kind of other securities or property) with respect to which Awards may be granted, including (1) Plan Share Limit, (2) the Plan ISO Limit, (3) the Annual
Individual Plan Share Limit and (4) the Annual Independent Director Plan Share Limit, and (B) the terms of any outstanding Award, including (1) the number of Shares or other securities of the Company (or number and kind of other
securities or property) subject to outstanding Awards or to which outstanding Awards relate and (2) the Exercise Price, if applicable, with respect to any Award; provided, however, that the Committee shall determine the method and
manner in which to effect such equitable adjustment. 
 (ii) In the event that the Committee determines that any reorganization, merger,
consolidation, combination, repurchase or exchange of Shares or other securities of the Company, issuance of warrants or other rights to purchase Shares or other securities of the Company, or other similar corporate transaction or event affects the
Shares (including any Change of Control) such that an adjustment is determined by the Committee in its discretion to be appropriate or desirable, then the Committee may (A) in such manner as it may deem appropriate or desirable, equitably
adjust any or all of (1) the number of Shares or other securities of the Company (or number and kind of other 

  
 10 

 
securities or property) with respect to which Awards may be granted, including (W) the Plan Share Limit, (X) the Plan ISO Limit (Y) the Annual Individual Plan Share Limit and
(Z) the Annual Independent Director Plan Share Limit, and (2) the terms of any outstanding Award, including (X) the number of Shares or other securities of the Company (or number and kind of other securities or property) subject to
outstanding Awards or to which outstanding Awards relate and (Y) the Exercise Price, if applicable, with respect to any Award, (B) if deemed appropriate or desirable by the Committee, make provision for a cash payment to the holder of an
outstanding Award in consideration for the cancelation of such Award, including, in the case of an outstanding Option or SAR, a cash payment to the holder of such Option or SAR in consideration for the cancelation of such Option or SAR in an amount
equal to the excess, if any, of the Fair Market Value (as of a date specified by the Committee) of the Shares subject to such Option or SAR over the aggregate Exercise Price of such Option or SAR and (C) if deemed appropriate or desirable by
the Committee, cancel and terminate any Option or SAR having a per-Share Exercise Price equal to, or in excess of, the Fair Market Value of a Share subject to such Option or SAR without any payment or consideration therefor. 

(c) Substitute Awards. Awards may, in the discretion of the Committee, be granted under the Plan in assumption of, or in substitution
for, outstanding awards previously granted by the Company or any of its Affiliates or a company acquired by the Company or any of its Affiliates or with which the Company or any of its Affiliates combines (“Substitute Awards”);
provided, however, that in no event may any Substitute Award be granted in a manner that would violate the prohibitions on repricing of Options and SARs, as set forth in clauses (i), (ii) or (iii) of Section 7(b). The
number of Shares underlying any Substitute Awards shall be counted against the Plan Share Limit; provided, however, that Substitute Awards issued in connection with the assumption of, or in substitution for, outstanding awards
previously granted by an entity that is acquired by the Company or any of its Affiliates or with which the Company or any of its Affiliates combines shall not be counted against the Plan Share Limit; provided further, however,
that Substitute Awards issued in connection with the assumption of, or in substitution for, outstanding stock options intended to qualify for special tax treatment under Sections 421 and 422 of the Code that were previously granted by an entity that
is acquired by the Company or any of its Affiliates or with which the Company or any of its Affiliates combines shall be counted against the maximum aggregate number of Shares available for Incentive Stock Options under the Plan. 

(d) Sources of Shares Deliverable Under Awards. Any Shares delivered pursuant to an Award may consist, in whole or in part, of
authorized and unissued Shares or of treasury Shares. 
 SECTION 5. Eligibility. Any director, officer, employee or consultant
(including any prospective director, officer, employee or consultant) of the Company or any of its Affiliates shall be eligible to be designated a Participant. 

  
 11 

 SECTION 6. Awards. (a) Types of Awards. Awards may be made under the Plan in
the form of (i) Options, (ii) SARs, (iii) Restricted Shares, (iv) RSUs, (v) Performance Compensation Awards, (vi) Performance Units, (vii) Cash Incentive Awards, (viii) Deferred Share Units and (ix) other
equity based or equity related Awards that the Committee determines are consistent with the purpose of the Plan and the interests of the Company. Awards may be granted in tandem with other Awards. No Incentive Stock Option (other than an Incentive
Stock Option that may be assumed or issued by the Company in connection with a transaction to which Section 424(a) of the Code applies) may be granted to a person who is ineligible to receive an Incentive Stock Option under the Code. 

(b) Options. (i) Grant. Subject to the provisions of the Plan, the Committee shall have sole and plenary authority to
determine (A) the Participants to whom Options shall be granted, (B) subject to Section 4(a), the number of Shares subject to each Option to be granted to each Participant, (C) whether each Option shall be an Incentive Stock
Option or a Nonqualified Stock Option and (D) the terms and conditions of each Option, including the vesting criteria, term, methods of exercise and methods and form of settlement. In the case of Incentive Stock Options, the terms and
conditions of such grants shall be subject to and comply with such rules as may be prescribed by Section 422 of the Code and any regulations related thereto, as may be amended from time to time. Each Option granted under the Plan shall be a
Nonqualified Stock Option unless the applicable Award Agreement expressly states that the Option is intended to be an Incentive Stock Option. If an Option is intended to be an Incentive Stock Option, and if, for any reason, such Option (or any
portion thereof) shall not qualify as an Incentive Stock Option, then, to the extent of such nonqualification, such Option (or portion thereof) shall be regarded as a Nonqualified Stock Option appropriately granted under the Plan; provided
that such Option (or portion thereof) otherwise complies with the Plan’s requirements relating to Nonqualified Stock Options. 
 (ii)
Exercise Price. The Exercise Price of each Share covered by each Option shall be not less than 100% of the Fair Market Value of such Share (determined as of the date the Option is granted); provided, however, that in the case of
each Incentive Stock Option granted to an employee who, at the time of the grant of such Option, owns stock representing more than 10% of the voting power of all classes of stock of the Company or any Affiliate, the per-Share Exercise Price shall be
no less than 110% of the Fair Market Value per Share on the date of the grant. 
 (iii) Vesting and Exercise. Subject to the minimum
vesting provisions of Section 3(b)(v), each Option shall be vested and exercisable at such times, in such manner and subject to such terms and conditions as the Committee may, in its sole and plenary discretion, specify in the applicable Award
Agreement or thereafter. Except as otherwise specified by the Committee in the applicable Award Agreement, each Option may only be exercised to the extent it has already vested at the time of exercise. Each Option shall be deemed to be exercised
when written or electronic notice of such exercise has been given to the Company in accordance with the terms of the Award by the person entitled to exercise the Award and full payment pursuant to Section 6(b)(iv) for the Shares with respect to
which the Award is exercised has been received by the Company. Exercise of each Option in any manner shall result in a decrease in the number of Shares that thereafter may be available for sale under the Option and, except as expressly set forth in
Sections 4(a) and 4(c), in the number of Shares that may be available for 

  
 12 

 
purposes of the Plan, by the number of Shares as to which the Option is exercised. The Committee may impose such conditions with respect to the exercise of each Option, including any conditions
relating to the application of Federal or state securities laws, as it may deem necessary or advisable. 
 (iv) Payment. (A) No
Shares shall be delivered pursuant to any exercise of an Option until payment in full of the aggregate Exercise Price therefor is received by the Company, and the Participant has paid to the Company (or the Company has withheld in accordance with
Section 9(d)) an amount equal to any Federal, state, local and foreign income and employment taxes required to be withheld. Such payments may be made in cash (or its equivalent) or, in the Committee’s sole and plenary discretion,
(a) by exchanging Shares owned by the Participant (which are not the subject of any pledge or other security interest), (b) if there shall be a public market for the Shares at such time, subject to such rules as may be established by the
Committee, through delivery of irrevocable instructions to a broker to sell the Shares otherwise deliverable upon the exercise of the Option and to deliver cash promptly to the Company, (c) by having the Company withhold Shares from the Shares
otherwise issuable pursuant to the exercise of the Option (for the avoidance of doubt, the Shares withheld shall be counted against the maximum number of Shares that may be delivered pursuant to the Awards granted under the Plan as provided in
Section 4(a) or (d) through any other method (or combination of methods) as approved by the Committee; provided that the combined value of all cash and cash equivalents and the Fair Market Value of any such Shares so tendered to the
Company, together with any Shares withheld by the Company in accordance with this Section 6(b)(iv) or Section 9(d), as of the date of such tender, is at least equal to such aggregate Exercise Price and the amount of any Federal, state,
local or foreign income or employment taxes required to be withheld, if applicable. 
 (v) Expiration. Except as otherwise set forth
in the applicable Award Agreement, each Option shall expire immediately, without any payment, upon the earlier of (A) the tenth anniversary of the date the Option is granted and (B) three months after the date the Participant who is
holding the Option ceases to be a director, officer, employee or consultant of the Company or one of its Affiliates. In no event may an Option be exercisable after the tenth anniversary of the date the Option is granted. 

(c) SARs. (i) Grant. Subject to the provisions of the Plan, the Committee shall have sole and plenary authority to determine
(A) the Participants to whom SARs shall be granted, (B) subject to Section 4(a), the number of SARs to be granted to each Participant, (C) the Exercise Price thereof and (D) the terms and conditions of each SAR, including
the vesting criteria, term, methods of exercise and methods and form of settlement. 

  
 13 

 (ii) Exercise Price. The Exercise Price of each Share covered by a SAR shall be not less
than 100% of the Fair Market Value of such Share (determined as of the date the SAR is granted). 
 (iii) Vesting and Exercise. Each
SAR shall entitle the Participant to receive an amount upon exercise equal to the excess, if any, of the Fair Market Value of a Share on the date of exercise of the SAR over the Exercise Price thereof. The Committee shall determine, in its sole and
plenary discretion, whether a SAR shall be settled in cash, Shares, other securities, other Awards, other property or a combination of any of the foregoing. Subject to the minimum vesting provisions of Section 3(b)(v), each SAR shall be vested
and exercisable at such time, in such manner and subject to such terms and conditions as the Committee may, in its discretion, specify in the applicable Award Agreement or thereafter. 

(iv) Substitution SARs. The Committee shall have the ability to substitute, without the consent of the affected Participant or any
holder or beneficiary of SARs, SARs settled in Shares (or SARs settled in Shares or cash in the Committee’s discretion) (“Substitution SARs”) for outstanding Nonqualified Stock Options (“Substituted Options”);
provided that (A) the substitution shall not otherwise result in a modification of the terms of any Substituted Option, (B) the number of Shares underlying the Substitution SARs shall be the same as the number of Shares underlying
the Substituted Options and (C) the Exercise Price of the Substitution SARs shall be equal to the Exercise Price of the Substituted Options. If, in the opinion of the Company’s auditors, this provision creates adverse accounting
consequences for the Company, it shall be considered null and void. 
 (v) Expiration. Except as otherwise set forth in the
applicable Award Agreement, each SAR shall expire immediately, without any payment, upon the earlier of (A) the tenth anniversary of the date the SAR is granted and (B) three months after the date the Participant who is holding the Option
ceases to be a director, officer, employee or consultant of the Company or one of its Affiliates. In no event may SAR be exercisable after the tenth anniversary of the date the SAR is granted. 

(d) Restricted Shares and RSUs. (i) Grant. Subject to the provisions of the Plan, the Committee shall have sole and plenary
authority to determine (A) the Participants to whom Restricted Shares and RSUs shall be granted, (B) subject to Section 4(a), the number of Restricted Shares and RSUs to be granted to each Participant, (C) subject to the minimum
vesting provisions of Section 3(b)(v), the duration of the period during which, and the conditions, if any, under which, the Restricted Shares and RSUs may vest or may be forfeited to the Company and (D) the terms and conditions of each
such Award, including the vesting criteria, term and methods and form of settlement. 

  
 14 

 (ii) Transfer Restrictions. Restricted Shares and RSUs may not be sold, assigned,
transferred, pledged or otherwise encumbered except as provided in the Plan or as may be provided in the applicable Award Agreement; provided, however, that the Committee may, in its discretion, determine that Restricted Shares and
RSUs may be transferred by the Participant for no consideration. Each Restricted Share may be evidenced in such manner as the Committee shall determine. If certificates representing Restricted Shares are registered in the name of the applicable
Participant, such certificates must bear an appropriate legend referring to the terms, conditions and restrictions applicable to such Restricted Shares, and the Company may, at its discretion, retain physical possession of such certificates until
such time as all applicable restrictions lapse. 
 (iii) Payment/Lapse of Restrictions. Each RSU shall be granted with respect to a
specified number of Shares (or a number of Shares determined pursuant to a specified formula) or shall have a value equal to the Fair Market Value of a specified number of Shares (or a number of Shares determined pursuant to a specified formula).
RSUs shall be paid in cash, Shares, other securities, other Awards or other property, as determined in the sole and plenary discretion of the Committee, upon the lapse of restrictions applicable thereto, or otherwise in accordance with the
applicable Award Agreement. If a Restricted Share or an RSU is intended to qualify as “qualified performance-based compensation” under Section 162(m) of the Code, all requirements set forth in Section 6(e) must be satisfied in
order for the restrictions applicable thereto to lapse. 
 (e) Performance Compensation Awards. (i) General. The Committee
shall have the authority, at the time of grant of any Award, to designate such Award (other than an Option or SAR) as a Performance Compensation Award in order for such Award to qualify as “qualified performance-based compensation” under
Section 162(m) of the Code. Options and SARs granted under the Plan shall not be included among Awards that are designated as Performance Compensation Awards under this Section 6(e). 

(ii) Eligibility. The Committee shall, in its sole discretion, designate within the first 90 days of a Performance Period (or, if
shorter, within the maximum period allowed under Section 162(m) of the Code) which Participants shall be eligible to receive Performance Compensation Awards in respect of such Performance Period. However, designation of a Participant as
eligible to receive an Award hereunder for a Performance Period shall not in any manner entitle such Participant to receive payment in respect of any Performance Compensation Award for such Performance Period. The determination as to whether or not
such Participant becomes entitled to payment in respect of any Performance Compensation Award shall be decided solely in accordance with the provisions of this Section 6(e). Moreover, designation of a Participant as eligible to receive an Award
hereunder for a particular Performance Period shall not require designation of such Participant as eligible to receive an Award hereunder in any subsequent Performance Period and designation of one person as a Participant eligible to receive an
Award hereunder shall not require designation of any other person as a Participant eligible to receive an Award hereunder in such period or in any other period. 

  
 15 

 (iii) Discretion of the Committee with Respect to Performance Compensation Awards. With
regard to a particular Performance Period, the Committee shall have full discretion to select (A) the length of such Performance Period, (B) the type(s) of Performance Compensation Awards to be issued, (C) the Performance Criteria
that will be used to establish the Performance Goal(s), (D) the kind(s) and/or level(s) of the Performance Goals(s) that is (are) to apply to the Company or any of its Subsidiaries, Affiliates, divisions or operational units, or any combination
of the foregoing, and (E) the Performance Formula; provided that any such Performance Formula shall be objective and non-discretionary. Within the first 90 days of a Performance Period (or, if shorter, within the maximum period allowed
under Section 162(m) of the Code), the Committee shall, with regard to the Performance Compensation Awards to be issued for such Performance Period, exercise its discretion with respect to each of the matters enumerated in the immediately
preceding sentence and record the same in writing. 
 (iv) Performance Criteria. Notwithstanding the foregoing, the Performance
Criteria that shall be used to establish the Performance Goal(s) with respect to Performance Compensation Awards shall be based on the attainment of specific levels of performance of the Company or any of its Subsidiaries, Affiliates, divisions or
operational units, or any combination of the foregoing, and shall be limited to the following: (A) net sales; (B) revenue; (C) revenue growth or product revenue growth, (D) operating income (before or after taxes) (E) return
on equity; (F) total shareholder return; (G) return on assets or net assets; (H) appreciation in and/or maintenance of, share price; (I) market share; (J) gross profits; (K) earnings (including earnings before taxes,
earnings before interest and taxes or earnings before interest, taxes, depreciation and amortization); (L) economic value-added models or equivalent metrics; (M) comparisons with various stock market indices; (N) reduction in costs;
(O) cash flow or cash flow per share (before or after dividends); (P) return on capital (including return on total capital or return on invested capital); (Q) cash flow return on investment; (R) improvement in or attainment of
expense levels or working capital levels; (S) operating margins; (T) gross margins or cash margin; (U) year-end cash; (V) debt reductions; (W) shareholder equity; (X) regulatory performance; (Y) implementation,
completion or attainment of measurable objectives with respect to research, development, products or projects; (Z) recruiting and maintaining personnel; (AA) objective measures of productivity or operating efficiency; (BB) product pricing
targets; (CC) combined ratio; (DD) operating ratio; (EE) leverage ratio; (FF) credit rating; (GG) borrowing levels; (HH) level or amount of acquisitions; (II) enterprise value; (JJ) book, economic book or intrinsic book value (including book value
per share) and (KK) customer satisfaction survey results. Such Performance Criteria may be applied on an absolute basis, be relative to one or more peer companies of the Company or indices or any combination thereof or, if applicable, be computed on
an accrual or cash accounting basis. To the extent required under Section 162(m) of the Code, the Committee shall, within the first 90 days of the applicable Performance Period (or, if shorter, within the maximum period allowed under
Section 162(m) of the Code), define in an objective manner the method of calculating the Performance Criteria it selects to use for such Performance Period. 

  
 16 

 (v) Modification of Performance Goals. The Committee is authorized at any time during the
first 90 days of a Performance Period (or, if shorter, within the maximum period allowed under Section 162(m) of the Code), or any time thereafter (but only to the extent the exercise of such authority after such 90-day period (or such shorter
period, if applicable) would not cause the Performance Compensation Awards granted to any Participant for the Performance Period to fail to qualify as “qualified performance-based compensation” under Section 162(m) of the Code), in
its sole and plenary discretion, to adjust or modify the calculation of a Performance Goal for such Performance Period to the extent permitted under Section 162(m) of the Code (A) in the event of, or in anticipation of, any unusual or
extraordinary corporate item, transaction, event or development affecting the Company, or any of its Affiliates, Subsidiaries, divisions or operating units (to the extent applicable to such Performance Goal) or (B) in recognition of, or in
anticipation of, any other unusual or nonrecurring events affecting the Company or any of its Affiliates, Subsidiaries, divisions or operating units (to the extent applicable to such Performance Goal), or the financial statements of the Company or
any of its Affiliates, Subsidiaries, divisions or operating units (to the extent applicable to such Performance Goal), or of changes in applicable rules, rulings, regulations or other requirements of any governmental body or securities exchange,
accounting principles, law or business conditions. 
 (vi) Payment of Performance Compensation Awards. (A) Condition to
Receipt of Payment. A Participant must be employed by the Company or one of its Subsidiaries on the last day of a Performance Period to be eligible for payment in respect of a Performance Compensation Award for such Performance Period.
Notwithstanding the foregoing and to the extent permitted by Section 162(m) of the Code, in the discretion of the Committee, Performance Compensation Awards may be paid to Participants who have retired or whose employment has terminated prior
to the last day of the Performance Period for which a Performance Compensation Award is made, or to the designee or estate of a Participant who died prior to the last day of a Performance Period. 

(B) Limitation. Except as otherwise permitted by Section 162(m) of the Code, a Participant shall be eligible to receive a payment
in respect of a Performance Compensation Award only to the extent that (1) the Performance Goal(s) for the relevant Performance Period are achieved and certified by the Committee in accordance with Section 6(e)(vi)(C) and (2) the
Performance Formula as applied against such Performance Goal(s) determines that all or some portion of such Participant’s Performance Compensation Award has been earned for such Performance Period. 

(C) Certification. Following the completion of a Performance Period, the Committee shall certify in writing whether, and to what
extent, the Performance Goals for the Performance Period have been achieved and, if so, to calculate and certify in writing that amount of the Performance Compensation Awards earned for the period based upon the objective Performance Formula. The
Committee shall then determine the actual amount of each Participant’s Performance Compensation Award for the Performance Period and, in so doing, may apply negative discretion as authorized by Section 6(e)(vi)(D). 

  
 17 

 (D) Negative Discretion. In determining the actual amount of an individual Performance
Compensation Award for a Performance Period, the Committee may, in its sole and plenary discretion, reduce or eliminate the amount of the Award earned in the Performance Period, even if applicable Performance Goals have been attained and without
regard to any employment agreement between the Company and a Participant. 
 (E) Discretion. Except as otherwise permitted by
Section 162(m) of the Code, in no event shall any discretionary authority granted to the Committee by the Plan be used to (1) grant or provide payment in respect of Performance Compensation Awards for a Performance Period if the
Performance Goals for such Performance Period have not been attained, (2) increase a Performance Compensation Award for any Participant at any time after the first 90 days of the Performance Period (or, if shorter, the maximum period allowed
under Section 162(m) of the Code) or (3) increase the amount of a Performance Compensation Award above the maximum amount payable under Section 4(a) of the Plan. 

(F) Form of Payment. In the case of any Performance Compensation Award other than a Restricted Share, RSU or other equity-based Award
that is subject to performance-based vesting conditions, such Performance Compensation Award shall be payable, in the discretion of the Committee, in cash or in Restricted Shares, RSUs or fully vested Shares of equivalent value and shall be paid on
such terms as determined by the Committee in its discretion. Any Restricted Shares and RSUs shall be subject to the terms of this Plan (or any successor equity-compensation plan) and any applicable Award Agreement. The number of Restricted Shares,
RSUs or Shares that is equivalent in value to a dollar amount shall be determined in accordance with a methodology specified by the Committee within the first 90 days of the relevant Performance Period (or, if shorter, within the maximum period
allowed under Section 162(m) of the Code). 
 (f) Performance Units. (i) Grant. Subject to the provisions of the
Plan, the Committee shall have sole and plenary authority to determine the Participants to whom Performance Units shall be granted. 
 (ii)
Value of Performance Units. Each Performance Unit shall have an initial value that is established by the Committee at the time of grant. The Committee shall set Performance Goals in its discretion which, depending on the extent to which they
are met during a Performance Period, will determine in accordance with Section 4(a) the number and/or value of Performance Units that will be paid out to the Participant. 

(iii) Earning of Performance Units. Subject to the provisions of the Plan, after the applicable Performance Period has ended, the
holder of Performance Units shall be entitled to receive a payout of the number and value of Performance Units earned by the Participant over the Performance Period, to be determined by the Committee, in its sole and plenary discretion, as a
function of the extent to which the corresponding Performance Goals have been achieved. 
 (iv) Form and Timing of Payment of Performance
Units. Subject to the provisions of the Plan, the Committee, in its sole and plenary discretion, may pay earned Performance Units in the form of cash or in Shares (or in a combination thereof) that

  
 18 

 
have an aggregate Fair Market Value equal to the value of the earned Performance Units at the close of the applicable Performance Period. Such Shares may be granted subject to any restrictions in
the applicable Award Agreement deemed appropriate by the Committee. The determination of the Committee with respect to the form and timing of payout of such Awards shall be set forth in the applicable Award Agreement. If a Performance Unit is
intended to qualify as “qualified performance-based compensation” under Section 162(m) of the Code, all requirements set forth in Section 6(e) must be satisfied in order for a Participant to be entitled to payment. 

(g) Cash Incentive Awards. (i) Grant. Subject to the provisions of the Plan, the Committee, in its sole and plenary
discretion, shall have the authority to determine (A) the Participants to whom Cash Incentive Awards shall be granted, (B) subject to Section 4(a), the amount of Cash Incentive Awards to be granted to each Participant, (C) the
duration of the period during which, and the conditions, if any, under which, the Cash Incentive Awards may vest or may be forfeited to the Company and (D) the other terms and conditions of each Cash Incentive Award. Each Cash Incentive Award
shall have an initial value that is established by the Committee at the time of grant. The Committee shall set performance goals or other payment conditions in its discretion, which, depending on the extent to which they are met during a specified
performance period, shall determine the amount and/or value of the Cash Incentive Award that shall be paid to the Participant. 
 (ii)
Earning of Cash Incentive Awards. Subject to the provisions of the Plan, after the applicable vesting period has ended, the holder of a Cash Incentive Award shall be entitled to receive a payout of the amount of the Cash Incentive Award
earned by the Participant over the specified performance period, to be determined by the Committee, in its sole and plenary discretion, as a function of the extent to which the corresponding performance goals or other conditions to payment have been
achieved. 
 (iii) Payment. If a Cash Incentive Award is intended to qualify as “qualified performance-based compensation”
under Section 162(m) of the Code, all requirements set forth in Section 6(e) must be satisfied in order for a Participant to be entitled to payment. 

(h) Other Stock-Based Awards. Subject to the provisions of the Plan, including the minimum vesting provisions of Section 3(b)(v),
the Committee shall have the sole and plenary authority to grant to Participants other equity-based or equity-related Awards (including Deferred Share Units and fully vested Shares) (whether payable in cash, equity or otherwise) in such amounts and
subject to such terms and conditions as the Committee shall determine; provided that any such Awards must comply, to the extent deemed desirable by the Committee, with Rule 16b-3 and applicable law. 

(i) Dividends and Dividend Equivalents. In the sole and plenary discretion of the Committee, an Award, other than an Option, SAR or Cash
Incentive Award, may provide the Participant with dividends or dividend equivalents, payable in cash, Shares, other securities, other Awards or other property, on a current or deferred basis, on such terms and conditions as may be determined by the
Committee in its sole 

  
 19 

 
and plenary discretion, including (i) payment directly to the Participant, (ii) withholding of such amounts by the Company subject to vesting of the Award or (iii) reinvestment in
additional Shares, Restricted Shares or other Awards; provided, however, that a Participant shall be eligible to receive dividends or dividend equivalents in respect of any Performance Compensation Award that is payable upon the
achievement of Performance Goals only to the extent that (A) the Performance Goals for the relevant Performance Period are achieved and (B) the Performance Formula as applied against such Performance Goals determines that all or some
portion of such Award has been earned for such Performance Period. 
 SECTION 7. Amendment and Termination. (a) Amendments to
the Plan. Subject to any applicable law or government regulation, to any requirement that must be satisfied if the Plan is intended to be a stockholder-approved plan for purposes of Section 162(m) of the Code and to the rules of the
Applicable Exchange, the Plan may be amended, modified or terminated by the Board without the approval of the stockholders of the Company, except that stockholder approval shall be required for any amendment that would (i) increase either the
Plan Share Limit or the Plan ISO Limit, (ii) change the class of employees or other individuals eligible to participate in the Plan or (iii) result in the amendment, cancellation or action described in clause (i), (ii) or
(iii) of the second sentence of Section 7(b) being permitted without the approval by the Company’s stockholders; provided, however, that any adjustment under Section 4(b) shall not constitute an increase for
purposes of this Section 7(a)(i). No amendment, modification or termination of the Plan may, without the consent of the Participant to whom any Award shall theretofor have been granted, materially and adversely affect the rights of such
Participant (or his or her transferee) under such Award, unless otherwise provided by the Committee in the applicable Award Agreement. 
 (b)
Amendments to Awards. The Committee may waive any conditions or rights under, amend any terms of, or alter, suspend, discontinue, cancel or terminate any Award theretofor granted, prospectively or retroactively; provided,
however, that, except as set forth in the Plan, unless otherwise provided by the Committee in the applicable Award Agreement, any such waiver, amendment, alteration, suspension, discontinuance, cancelation or termination that would materially
and adversely impair the rights of any Participant or any holder or beneficiary of any Award theretofor granted shall not to that extent be effective without the consent of the applicable Participant, holder or beneficiary. Notwithstanding the
preceding sentence, in no event may any Option or SAR (i) be amended to decrease the Exercise Price thereof, (ii) be canceled at a time when its Exercise Price exceeds the Fair Market Value of the underlying Shares in exchange for another
Option or SAR or any Restricted Share, RSU, other equity-based Award, award under any other equity-compensation plan or any cash payment or (iii) be subject to any action that would be treated, for accounting purposes, as a
“repricing” of such Option or SAR, unless such amendment, cancelation or action is approved by the Company’s stockholders. For the avoidance of doubt, an adjustment to the Exercise Price of an Option or SAR that is made in accordance
with Section 4(b) or Section 8 shall not be considered a reduction in Exercise Price or “repricing” of such Option or SAR. 

  
 20 

 (c) Adjustment of Awards Upon the Occurrence of Certain Unusual or Nonrecurring Events.
Subject to Section 6(e)(v) and the penultimate sentence of Section 7(b), the Committee is hereby authorized to make adjustments in the terms and conditions of, and the criteria included in, Awards in recognition of unusual or nonrecurring
events (including the events described in Section 4(b) or the occurrence of a Change of Control) affecting the Company, any Affiliate, or the financial statements of the Company or any Affiliate, or of changes in applicable rules, rulings,
regulations or other requirements of any governmental body or securities exchange, accounting principles or law (i) whenever the Committee, in its sole and plenary discretion, determines that such adjustments are appropriate or desirable,
including providing for a substitution or assumption of Awards, accelerating the exercisability of, lapse of restrictions on, or termination of, Awards or providing for a period of time for exercise prior to the occurrence of such event,
(ii) if deemed appropriate or desirable by the Committee, in its sole and plenary discretion, by providing for a cash payment to the holder of an Award in consideration for the cancelation of such Award, including, in the case of an outstanding
Option or SAR, a cash payment to the holder of such Option or SAR in consideration for the cancelation of such Option or SAR in an amount equal to the excess, if any, of the Fair Market Value (as of a date specified by the Committee) of the Shares
subject to such Option or SAR over the aggregate Exercise Price of such Option or SAR and (iii) if deemed appropriate or desirable by the Committee, in its sole and plenary discretion, by canceling and terminating any Option or SAR having a
per-Share Exercise Price equal to, or in excess of, the Fair Market Value of a Share subject to such Option or SAR without any payment or consideration therefor. 

SECTION 8. Change of Control. Unless otherwise provided in the applicable Award Agreement, in the event of a Change of Control after
the date of the adoption of the Plan, all Awards that are outstanding and unvested as of immediately prior to a Change of Control (after giving effect to any action by the Committee pursuant to Section 7(c)) shall remain outstanding and
unvested immediately thereafter, provided, however, that, if within 12 months following a Change of Control, a Participant’s employment or services, as applicable, with the Company and its Affiliates is terminated without Cause,
then (a) any outstanding Options or SARs then held by Participants that are unexercisable or otherwise unvested shall automatically be deemed exercisable or otherwise vested, as the case may be, as of the date of such termination, (ii) all
Performance Units, Cash Incentive Awards and Awards designated as Performance Compensation Awards shall automatically vest and be paid out immediately as if the date of such termination were the last day of the applicable Performance Period and
“target” performance levels had been attained, and (iii) all other outstanding Awards (i.e., other than Options, SARs, Performance Units, Cash Incentive Awards and Awards designated as Performance Compensation Awards) then
held by Participants that are unexercisable, unvested or still subject to restrictions or forfeiture, shall automatically be deemed exercisable and vested and all restrictions and forfeiture provisions related thereto shall lapse as of the date of
such termination. 
 SECTION 9. General Provisions. (a) Nontransferability. Except as otherwise specified in the
applicable Award Agreement, during the Participant’s lifetime, each Award (and any rights and obligations thereunder) shall be exercisable only by the Participant, or, if permissible under applicable law, by the Participant’s legal
guardian or 

  
 21 

 
representative, and no Award (or any rights and obligations thereunder) may be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by a Participant otherwise than
by will or by the laws of descent and distribution, and any such purported assignment, alienation, pledge, attachment, sale, transfer or encumbrance shall be void and unenforceable against the Company or any Affiliate; provided that,
(i) the designation of a beneficiary shall not constitute an assignment, alienation, pledge, attachment, sale, transfer or encumbrance and (ii) the Board or the Committee may permit further transferability, on a general or specific basis,
and may impose conditions and limitations on any permitted transferability; provided, however, that Incentive Stock Options shall not be transferable in any way that would violate Section 1.422-2(a)(2) of the Treasury Regulations
and in no event may any Award (or any rights and obligations thereunder) be transferred in any way in exchange for value. All terms and conditions of the Plan and all Award Agreements shall be binding upon any permitted successors and assigns. 

(b) No Rights to Awards. No Participant or other Person shall have any claim to be granted any Award, and there is no obligation for
uniformity of treatment of Participants or holders or beneficiaries of Awards. The terms and conditions of Awards and the Committee’s determinations and interpretations with respect thereto need not be the same with respect to each Participant
and may be made selectively among Participants, whether or not such Participants are similarly situated. 
 (c) Share Certificates.
All certificates for Shares or other securities of the Company or any Affiliate delivered under the Plan pursuant to any Award or the exercise thereof shall be subject to such stop transfer orders and other restrictions as the Committee may deem
advisable under the Plan, the applicable Award Agreement or the rules, regulations and other requirements of the SEC, the Applicable Exchange and any applicable Federal or state laws, and the Committee may cause a legend or legends to be put on any
such certificates to make appropriate reference to such restrictions. Notwithstanding any other provision of the Plan, unless otherwise determined by the Committee or required by any applicable law, the Company shall not deliver to any Participant
certificates evidencing Shares issued in connection with any Award and instead such Shares shall be recorded in the books of the Company (or, as applicable, its transfer agent or stock plan administrator). 

(d) Withholding. (i) Authority to Withhold. A Participant may be required to pay to the Company or any Affiliate, and the
Company or any Affiliate shall have the right and is hereby authorized to withhold from any Award, from any payment due or transfer made under any Award or under the Plan or from any compensation or other amount owing to a Participant, the amount
(in cash, Shares, other securities, other Awards or other property) of any applicable withholding taxes in respect of an Award, its exercise or any payment or transfer under an Award or under the Plan and to take such other action as may be
necessary in the opinion of the Committee or the Company to satisfy all obligations for the payment of such taxes. 

  
 22 

 (ii) Alternative Ways to Satisfy Withholding Liability. Without limiting the generality
of Section 9(d)(i), subject to the Committee’s discretion, a Participant may satisfy, in whole or in part, the foregoing withholding liability by delivery of Shares owned by the Participant (which are not subject to any pledge or other
security interest) having a Fair Market Value equal to such withholding liability or by having the Company withhold from the number of Shares otherwise issuable pursuant to the exercise of the Option or SAR, or the lapse of the restrictions on any
other Award (in the case of SARs and other Awards, if such SARs and other Awards are settled in Shares), a number of Shares having a Fair Market Value equal to such withholding liability. 

(e) Section 409A. (i) It is intended that the provisions of the Plan comply with Section 409A of the Code, and all
provisions of the Plan shall be construed and interpreted in a manner consistent with the requirements for avoiding taxes or penalties under Section 409A of the Code. 

(ii) No Participant or the creditors or beneficiaries of a Participant shall have the right to subject any deferred compensation (within the
meaning of Section 409A of the Code) payable under the Plan to any anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment or garnishment. Except as permitted under Section 409A of the Code, any deferred
compensation (within the meaning of Section 409A of the Code) payable to any Participant or for the benefit of any Participant under the Plan may not be reduced by, or offset against, any amount owing by any such Participant to the Company or
any of its Affiliates. 
 (iii) If, at the time of a Participant’s separation from service (within the meaning of Section 409A of
the Code), (A) such Participant shall be a specified employee (within the meaning of Section 409A of the Code and using the identification methodology selected by the Company from time to time) and (B) the Company shall make a good
faith determination that an amount payable pursuant to an Award constitutes deferred compensation (within the meaning of Section 409A of the Code) the payment of which is required to be delayed pursuant to the six-month delay rule set forth in
Section 409A of the Code in order to avoid taxes or penalties under Section 409A of the Code, then the Company shall not pay such amount on the otherwise scheduled payment date but shall instead pay it on the first business day after such
six-month period. Such amount shall be paid without interest, unless otherwise determined by the Committee, in its sole discretion, or as otherwise provided in any applicable employment agreement between the Company and the relevant Participant.

 (iv) Notwithstanding any provision of the Plan to the contrary, if it is determined that an Award hereunder is subject to the
requirements of Section 409A of the Code, for purposes of payment and settlement of such Award, the Company will not be deemed to have undergone a Change of Control unless the Company has undergone a “change in the ownership or effective
control of the corporation, or in the ownership of a substantial portion of the assets of a corporation” within the meaning of Section 409A(a)(2)(A)(v) of the Code. 

  
 23 

 (v) Notwithstanding any provision of the Plan to the contrary, in light of the uncertainty with
respect to the proper application of Section 409A of the Code, the Company reserves the right to make amendments to any Award as the Company deems necessary or desirable to avoid the imposition of taxes or penalties under Section 409A of
the Code. In any case, a Participant shall be solely responsible and liable for the satisfaction of all taxes and penalties that may be imposed on such Participant or for such Participant’s account in connection with an Award (including any
taxes and penalties under Section 409A of the Code), and neither the Company nor any of its Affiliates shall have any obligation to indemnify or otherwise hold such Participant harmless from any or all of such taxes or penalties. 

(f) Award Agreements. Each Award hereunder shall be evidenced by an Award Agreement, which shall be delivered to the Participant and
shall specify the terms and conditions of the Award and any rules applicable thereto, including the effect on such Award of the death, disability or termination of employment or service of a Participant and the effect, if any, of such other events
as may be determined by the Committee. 
 (g) No Limit on Other Compensation Arrangements. Nothing contained in the Plan shall prevent
the Company or any Affiliate from adopting or continuing in effect other compensation arrangements, which may, but need not, provide for the grant of options, restricted stock, shares, other types of equity-based awards (subject to stockholder
approval if such approval is required) and cash incentive awards, and such arrangements may be either generally applicable or applicable only in specific cases. 

(h) No Right to Employment. The grant of an Award shall not be construed as giving a Participant the right to be retained as a director,
officer, employee or consultant of or to the Company or any Affiliate, nor shall it be construed as giving a Participant any rights to continued service on the Board. Further, the Company or an Affiliate may at any time dismiss a Participant from
employment or discontinue any directorship or consulting relationship, free from any liability or any claim under the Plan, unless otherwise expressly provided in the Plan or in any Award Agreement. 

(i) No Rights as Stockholder. No Participant or holder or beneficiary of any Award shall have any rights as a stockholder with respect
to any Shares to be distributed under the Plan until he or she has become the holder of such Shares. In connection with each grant of Restricted Shares, except as provided in the applicable Award Agreement, the Participant shall be entitled to the
rights of a stockholder (including the right to vote) in respect of such Restricted Shares. Except as otherwise provided in Section 4(b), Section 7(c) or the applicable Award Agreement, no adjustments shall be made for dividends or
distributions on (whether ordinary or extraordinary, and whether in cash, Shares, other securities or other property), or other events relating to, Shares subject to an Award for which the record date is prior to the date such Shares are delivered.

 (j) Governing Law. The validity, construction and effect of the Plan and any rules and regulations relating to the Plan and any
Award Agreement shall be determined in accordance with the laws of the State of Delaware, without giving effect to the conflict of laws provisions thereof. 

  
 24 

 (k) Severability. If any provision of the Plan or any Award is or becomes or is deemed to
be invalid, illegal or unenforceable in any jurisdiction or as to any Person or Award, or would disqualify the Plan or any Award under any law deemed applicable by the Committee, such provision shall be construed or deemed amended to conform to the
applicable laws, or if it cannot be construed or deemed amended without, in the determination of the Committee, materially altering the intent of the Plan or the Award, such provision shall be construed or deemed stricken as to such jurisdiction,
Person or Award and the remainder of the Plan and any such Award shall remain in full force and effect. 
 (l) Other Laws; Restrictions on
Transfer of Shares. The Committee may refuse to issue or transfer any Shares or other consideration under an Award if, acting in its sole and plenary discretion, it determines that the issuance or transfer of such Shares or such other
consideration might violate any applicable law or regulation or entitle the Company to recover the same under Section 16(b) of the Exchange Act, and any payment tendered to the Company by a Participant, other holder or beneficiary in connection
with the exercise of such Award shall be promptly refunded to the relevant Participant, holder or beneficiary. Without limiting the generality of the foregoing, no Award granted hereunder shall be construed as an offer to sell securities of the
Company, and no such offer shall be outstanding, unless and until the Committee in its sole and plenary discretion has determined that any such offer, if made, would be in compliance with all applicable requirements of the U.S. Federal and any other
applicable securities laws. 
 (m) No Trust or Fund Created. Neither the Plan nor any Award shall create or be construed to create a
trust or separate fund of any kind or a fiduciary relationship between the Company or any Affiliate, on one hand, and a Participant or any other Person, on the other. To the extent that any Person acquires a right to receive payments from the
Company or any Affiliate pursuant to an Award, such right shall be no greater than the right of any unsecured general creditor of the Company or such Affiliate. 

(n) Recoupment of Awards. Any Award Agreement may provide for recoupment by the Company of all or any portion of an Award if the
Company’s financial statements are required to be restated due to noncompliance with any financial reporting requirement under the Federal securities laws. This Section 9(n) shall not be the Company’s exclusive remedy with respect to
such matters. 
 (o) No Fractional Shares. No fractional Shares shall be issued or delivered pursuant to the Plan or any Award, and
the Committee shall determine whether cash, other securities or other property shall be paid or transferred in lieu of any fractional Shares or whether such fractional Shares or any rights thereto shall be canceled, terminated or otherwise
eliminated. 
 (p) Requirement of Consent and Notification of Election Under Section 83(b) of the Code or Similar Provision. No
election under Section 83(b) of the Code (to include in gross income in the year of transfer the amounts specified in Section 83(b) of the Code) or under a similar provision of law may be made unless expressly permitted by the terms of the
applicable Award Agreement or by action of the 

  
 25 

 
Committee in writing prior to the making of such election. If an Award recipient, in connection with the acquisition of Shares under the Plan or otherwise, is expressly permitted under the terms
of the applicable Award Agreement or by such Committee action to make such an election and the Participant makes the election, the Participant shall notify the Committee of such election within ten days of filing notice of the election with the
Internal Revenue Service (or any successor thereto) or other governmental authority, in addition to any filing and notification required pursuant to regulations issued under Section 83(b) of the Code or any other applicable provision. 

(q) Requirement of Notification Upon Disqualifying Disposition Under Section 421(b) of the Code. If any Participant shall make any
disposition of Shares delivered pursuant to the exercise of an Incentive Stock Option under the circumstances described in Section 421(b) of the Code (relating to certain disqualifying dispositions) or any successor provision of the Code, such
Participant shall notify the Company of such disposition within ten days of such disposition. 
 (r) Headings and Construction.
Headings are given to the Sections and subsections of the Plan solely as a convenience to facilitate reference. Such headings shall not be deemed in any way material or relevant to the construction or interpretation of the Plan or any provision
thereof. Whenever the words “include”, “includes” or “including” are used in the Plan, they shall be deemed to be followed by the words “but not limited to”, and the word “or” shall not be deemed to
be exclusive. 
 SECTION 10. Term of the Plan. (a) Effective Date. The Plan shall be effective as of the date of its
adoption by the Board. 
 (b) Expiration Date. No Award shall be granted under the Plan after the tenth anniversary of the date the
Plan is adopted by the Board under Section 10(a). Unless otherwise expressly provided in the Plan or in an applicable Award Agreement, any Award granted hereunder, and the authority of the Board or the Committee to amend, alter, adjust,
suspend, discontinue or terminate any such Award or to waive any conditions or rights under any such Award, shall nevertheless continue thereafter. 

  
 26EX-10.11

 Exhibit 10.11 
 Execution Copy 
 CONSULTING AGREEMENT 

This CONSULTING AGREEMENT (this “Agreement”) made this 12th day of March, 2014, is entered into by and between
EVOLENT HEALTH, LLC, a Delaware limited liability company (the “Company”) and NCP, INC., a New Hampshire corporation (the “Consultant”). 

WHEREAS, Norman Payson, M.D. (“Payson”) is the sole shareholder of the Consultant; 

WHEREAS, Payson has agreed to serve as a member of the Board of Directors (a “Director”) of each of the
Company and the Company’s affiliate, Evolent Health Holdings, Inc. (“Holdings”). 

WHEREAS, in addition to (and not as part of) Payson’s service as a Director, the Company desires to retain the
Consultant to perform certain consulting and advisory services for the Company, as more particularly described herein; 
 WHEREAS, the Consultant is engaged in other capacities and has agreed to provide such consulting and advisory services in addition to, and separate from and independent of, its duties with respect to any
other entity, pursuant to the terms and conditions set forth in this Agreement; 
 WHEREAS, the
Consultant’s other business pursuits will not interfere with or prohibit the provision of such consulting and advisory services; and 
 WHEREAS, the Consultant shall perform the consulting and advisory services for the Company hereunder solely through the personal services of Payson. 

NOW, THEREFORE, in consideration of the mutual covenants and promises contained herein and other good and valuable
consideration, the receipt and sufficiency which are hereby acknowledged, the Company and the Consultant agree as follows: 
 1. Engagement and Duties. The Consultant will provide the services set forth on Exhibit A hereto, as well as such other related services as may be agreed to from time to time by the Company
and the Consultant (the “Services”). The Consultant will use its reasonable commercial efforts to perform the Services in a timely manner. 
 2. Compensation. For all of the Services to be rendered by the Consultant to the Company hereunder, the Company shall compensate the Consultant as follows: 

(a) The Company shall pay the Consultant a fee of $200,000 per year (the “Fee”), which shall be payable
in equal monthly installments in arrears, on the first business day of each month during the Term and such Fee shall be in addition to any compensation to which Payson is entitled for serving as a Director. The Fee shall be earned on a daily basis
and shall be non-refundable. 
 (b) The Company shall reimburse the reasonable out-of-pocket expenses incurred by the Consultant
in the performance of the Services, upon the presentation of supporting documentation and in accordance with the Company’s customary travel, lodging and expense-reimbursement policies. Not in limitation of the foregoing, (i) air travel
shall be reimbursed at the lesser of (1) the actual expense incurred for any such travel and (2) the unrestricted business-class rate for such trip (the “Air Travel Expense Cap”), (ii) any individual expense in excess
of $5,000 must be preapproved in writing by the Company and (iii) no expense for which the Company is liable hereunder may be incurred or assessed by, or in respect of, any person other than the Consultant or Payson without the prior written
consent of the Company, which may be withheld in its discretion. The Company acknowledges that the Consultant’s air travel expenses will exceed the Air Travel Expense Cap from time to time. The Consultant will submit to the Company invoices
showing its out-of-pocket air travel expenses, and the Company shall reimburse the Consultant for such expenses up to the Air Travel Expense Cap in accordance with the first sentence of this Section 2(b). The Company shall have the
responsibility for determining the unrestricted business-

 
Execution Copy 
 class rate with respect to any such air travel
expense, and shall use reasonable commercial efforts to maintain a record of any air travel expenses that exceed the Air Travel Expense Cap and are not reimbursed to the Consultant (the “Unreimbursed Expenses”). 

(c) Except for the Fee and the reimbursement of the Consultant’s expenses, as provided in Section 2(b) hereof,
the Consultant shall not be entitled to receive, and shall not receive, any compensation, royalties or payments for the provision of the Services. 
 3. Term and Termination. 
 (a) This Agreement will continue
in effect indefinitely until the earlier to occur of (i) delivery of written notice of termination by the Company terminating the Agreement, at any time for any or no reason, to the Consultant, or (ii) delivery of written notice of
termination by the Consultant, for any reason or no reason, to the Company. The period from the date hereof through the effective date of termination of this Agreement is hereinafter referred to as the “Term”. 

(b) Upon the termination of this Agreement for any reason, the Consultant shall be entitled to (i) payment of the
accrued but unpaid Fee for the period through the effective date of termination, and (ii) reimbursement of all expenses incurred in connection with the performance of the Services through the effective date of termination, to the extent
otherwise permitted under Section 2(b) hereof. 
 4. Company Confidential Information; Assignment of
Inventions; Non-Solicitation. 
 (a) The Consultant agrees that all information of a private, secret or
confidential nature disclosed by or on behalf of the Company to the Consultant concerning the Company’s business, operations, software, solutions, and financial affairs (collectively, the “Company Confidential Information”) is
and shall be the property of the Company. By way of illustration, but not limitation, the Company Confidential Information may include marketing and sales strategies, pricing information, negotiation strategies, financial data, product and service
specifications, personnel data and computer programs (including software used pursuant to a third-party license agreement). The Consultant shall not disclose any of the Company Confidential Information to any person or entity other than employees of
or other persons engaged by the Company in the course of performing the Services, or use any such Confidential Information for any purposes (other than in the performance of its duties for the Company) without written approval of the Company, either
during or after its engagement with the Company. Notwithstanding the foregoing, Company Confidential Information shall not include any information that (i) has become public knowledge without fault by the Consultant, (ii) is or becomes
available to the Consultant on a non-confidential basis from a third-party source, provided that such third party is not under a duty of confidentiality to the Company with respect to such information, (iii) was known by or in the possession of
the Consultant prior to being disclosed by the Company, (iv) is independently developed by the Consultant without reference to or use of any of the Company Confidential Information, or (v) is required to be disclosed pursuant to applicable
law or order. 
 (b) The Consultant agrees that all Company Confidential Information contained in files,
documents, letters, memoranda, reports, records, data, equipment, computer equipment or devices, computer programs or other written, photographic, or other tangible material, whether created by the Consultant or others, which shall come into its
custody, possession or control, shall be used by the Consultant only in the performance of its duties for the Company. 
 (c) The Consultant agrees that its obligation not to disclose or use information of the type set forth in Sections 4(a) and 4(b) above (i.e., if such types of information would constitute Company

 Execution Copy 

Confidential Information) also extends to such types of information, materials and tangible property of suppliers or clients of the
Company or other third parties which are disclosed to the Consultant in the course of performing the Services. 

(d) The Consultant hereby grants to the Company a perpetual, irrevocable, nonexclusive, and fully paid-up license to all
intellectual property in the work product that is prepared by the Consultant and delivered to the Company in the course of performing the Services. 
 (e) During the Term and for Twelve (12) months after the termination of this Agreement, neither the Consultant nor Payson will, without the Company’s or Holdings’ prior consent: 

(i) induce any employee of the Company or Holdings to terminate his or her employment with the Company or Holdings in
order to join with the Consultant or Payson in any business or other venture in which the Consultant or Payson maintains a financial interest, whether or not competitive with the Company or Holdings, provided that this restriction shall not apply to
any general solicitations or advertisements for work which are not directed at or intended for such employee; or 
 (ii) in competition with the Company or Holdings, directly or (at the direction of the Consultant) indirectly solicit (1) customers of the Company or Holdings or (2) prospective customers of the
Company or Holdings that the Consultant or Payson had material dealings with in connection with the Consultant’s work for the Company or Holdings and that (a) the Company or Holdings identified as prospective customers to the Consultant or
Payson or (b) the Consultant or Payson otherwise knew were prospective customers, provided that this restriction shall not apply to any general solicitation of customers with which the Consultant or Payson maintained an active and substantive
relationship prior to the commencement of the Services. 
 5. Independent Contractor Status. It is the
express intention of the parties hereto that the Consultant’s relationship with the Company is strictly that of an independent contractor and nothing contained in this Agreement shall be construed to place the parties in the relationship of
employer-employee, principal-agent, partners or joint venturers. The Consultant will have the authority to control and direct the performance of the details of the Services, the Company being interested only in the results obtained. The Consultant
shall have no authority to take any action on behalf of the Company, to hold himself out as an officer or agent of the Company, or to bind the Company by any promise, agreement, or representation, or in any manner, including, without limitation,
transact business, receive payments, waive any right or claim, or incur obligations. 
 6.
Indemnification. Subject to the further provisions of this Section 6, the Company hereby covenants and agrees to waive and hold the Consultant and each of its shareholders, directors, officers, employees, agents, successors and assigns
(the “Indemnitees”) harmless from, any claim arising as a result of the Consultant’s performance of the Services hereunder. In addition, if any Indemnitee is made a party or threatened to be made a party to any action, suit or
proceeding, whether civil, criminal, administrative or investigative (a “Proceeding”), by reason of the fact that the Consultant is or was providing the Services to the Company, or as a result of the Consultant’s being a
consultant to the Company at any time, the Indemnitee shall be indemnified and held harmless by the Company to the fullest extent permitted by applicable law, as the same currently exists or may hereafter be amended (but only to the extent than any
such amendment increased the indemnification protection available to the Indemnitee), against all expenses (including, without limitation, reasonable attorneys’ fees) reasonably incurred or suffered by the Indemnitee in connection therewith,
and such indemnification shall continue as to Indemnitee even if Consultant is no longer providing the Services to the Company and shall inure to the benefit of Indemnitee’s heirs, executors and administrators. The foregoing hold harmless and
indemnity obligations of the Company shall not apply to any claim unless the Indemnitee acted in good 

 Execution Copy 

faith and in a manner the Indemnitee reasonably believed to be in or not opposed to the best interests of the Company, or with respect to
any criminal proceeding, the Indemnitee had no reasonable cause to believe such Indemnitee’s conduct was unlawful. 
 7. Equitable Relief. 
 (a) The Consultant acknowledges that
the restrictions contained in Section 4 of this Agreement are necessary for the protection of the business and goodwill of the Company and are considered by the Consultant to be reasonable for such purpose. The Consultant acknowledges that any
breach of the provisions of Section 4 may result in immediate and irreparable injury to the Company for which the Company may not be adequately compensated by monetary damages alone. Therefore, in the event of any such breach or threatened
breach, in addition to any other remedy it may have, the Company shall be entitled to seek specific performance of this Agreement by the Consultant. 
 (b) Notwithstanding the foregoing, if any restriction set forth in Section 4 is found by any court of competent jurisdiction to be unenforceable because it extends for too long a period of time or
over too great a range of activities or in too broad a geographic area, it shall be interpreted to extend only over the maximum period of time, range of activities or geographic areas as to which it may be enforceable. 

8. Corporate Opportunity Waiver. 

(a) Subject to Sections 8(c) and (d) hereof, and any contractual obligations by which the Consultant or Payson may
be bound from time to time, neither the Consultant nor Payson shall have any duty to refrain from engaging, directly or indirectly, in the same or similar business activities or lines of business as the Company or any of the Company’s
affiliates, including those business activities or lines of business deemed to be competing with the Company or any of the Company’s affiliates. To the fullest extent permitted by law neither the Consultant nor Payson shall be liable to the
Company or its stockholders, or to any affiliate of the Company or such affiliate’s stockholders or members, for breach of any fiduciary duty, solely by reason of any such activities of the Consultant or Payson. 

(b) To the fullest extent permitted by law, but subject to any contractual obligations by which the Consultant or Payson
may be bound from time to time, neither the Consultant nor Payson shall have any duty to refrain from doing business with any client, customer or vendor of the Company or any of the Company’s affiliates, and without limiting Sections 8(c) and
(d) hereof, neither the Consultant nor Payson shall be deemed to have breached its or his fiduciary duties, if any, to the Company or its members or to any affiliate of the Company or such affiliate’s stockholders or members solely by
reason of engaging in any such activity. 
 (c) Subject to any contractual provisions by which the Consultant or
Payson may be bound from time to time, unless a potential transaction or other matter was expressly offered to Payson (i) in the course of performing the Services or (ii) in his capacity as a director of the Company (or any of its
affiliates), in the event that the Consultant or Payson acquires knowledge of a potential transaction or other matter which may be a corporate opportunity for the Consultant or Payson, on the one hand, and the Company (or any of its affiliates), on
the other hand, neither the Consultant nor Payson shall have any duty to communicate or offer such corporate opportunity to the Company or any of its affiliates, and to the fullest extent permitted by law, neither the Consultant nor Payson shall be
liable to the Company or its members, or any affiliate of the Company or such affiliate’s stockholders or members, for breach of any fiduciary duty or otherwise, solely by reason of the fact that the Consultant or Payson acquires, pursues or
obtains such corporate opportunity for himself, directs such corporate opportunity to another person, or otherwise does not communicate information regarding such corporate opportunity to the Company or

 Execution Copy 

any of its affiliates, and the Company (on behalf of itself and its affiliates and their respective members, stockholders and affiliates)
to the fullest extent permitted by law hereby waives and renounces any claim that such business opportunity constituted a corporate opportunity that should have been presented to the Company or any of its affiliates in accordance with
Section 122(17) of the GCL. 
 (d) Subject to any contractual provisions by which the Consultant or Payson
may be bound from time to time, in the event that the Consultant or Payson is offered or acquires knowledge of a potential transaction or matter which may be a corporate opportunity for both the Company, on the one hand, and the Consultant or
Payson, on the other hand (a “Mutual Corporate Opportunity”), the Consultant and Payson shall, to the fullest extent permitted by law, be deemed to have fully satisfied and fulfilled its and his fiduciary duty with respect to the
Mutual Corporate Opportunity, and the Company (on behalf of itself and its members and its affiliates and their respective stockholders or members), to the fullest extent permitted by law, hereby waives and renounces any claim that such Mutual
Corporate Opportunity constitutes a corporate opportunity that should be presented to the Company (or any of its affiliates) and agrees that such Mutual Corporate Opportunity may be pursued and taken advantage of by the Consultant or Payson, as
applicable, if the Consultant or Payson, as applicable, acts in a manner consistent with the following policy: a Mutual Corporate Opportunity offered to the Consultant or Payson, at any time during which Payson is (i) performing any Services,
or (ii) serving as a director of the Company (or its affiliates) shall belong to the Consultant or Payson, as applicable, unless such Mutual Corporate Opportunity was expressly offered to Payson, or Payson acquired such knowledge, (A) in
the course of performing the Services or (B) in his capacity as a director of the Company or any of its affiliates, in which case such opportunity shall not be pursued by the Consultant or Payson, unless such Mutual Corporate Opportunity is
presented to the Board of Directors of the Company (or the board of directors of any of its affiliates, as applicable), and the Company or such affiliate declines to pursue such Mutual Corporate Opportunity. For purposes of this Section 8(d),
the term “corporate opportunity” shall include, but not be limited to, investment or business opportunities or activities, potential transactions or matters which the Company is financially able to undertake, which are, from their nature,
in the line of the Company’s business, are of practical advantage to it and are opportunities in which the Company has an interest or a reasonable expectancy, and in which, by embracing the opportunities, the self-interest of the Consultant
will be brought into conflict with that of the Company. 
 (e) Notwithstanding the foregoing, the Consultant
acknowledges and agrees that if it engages, or proposes to engage (whether directly or through one or more affiliates), in a business activity that: (i) is or could reasonably be expected to become competitive with the business of the Company;
or (ii) would pose a conflict with or, but for the terms of Sections 8(a)-(d) hereof, constitute a breach of the performance of the Consultant’s duties to the Company or Evolent under the Third Amended and Restated Certificate of
Incorporation (the “Charter”) of Holdings, the Second Amended and Restated Operating Agreement (the “Operating Agreement”) of the Company and/or hereunder; then the Consultant shall promptly provide written notice
to the Chairman of the Board of Directors of the Company of such business activity. Notwithstanding the foregoing, in no event shall this Section 8(e) require the Consultant or Payson to violate any confidentiality obligation to any third
party. 
 9. Limitation of Consultant Liability. Notwithstanding anything to the contrary herein, in no
event shall the Consultant or Payson be liable for any losses incurred by the Company as a result of the performance of the Services in excess of the (i) the Fee, minus (ii) the Unreimbursed Expenses, if any. 

10. Provisions Separable. In the event that any provision of this Agreement shall be invalid, illegal or otherwise
unenforceable, the validity, legality and enforceability of the remaining provisions shall in no way be affected or impaired thereby. 

 Execution Copy 

11. Notices. All notices and other communications required or permitted under this Agreement shall be in writing
and shall be given by hand delivery, electronic facsimile transmission, overnight courier, or registered or certified mail, return receipt requested (and shall be deemed effective upon receipt) and addressed to the recipient set forth below or at
such other address or addresses as either party shall designate to the other in accordance with this Section 11: 
 If to the Company: 
 Evolent Health, LLC 

800 N. Glebe Road 
 Suite 500 
 Arlington, VA 22203 

Attn: President 
 Fax No: (571) 389-6001 
 with a copy to 

Morgan, Lewis & Bockius LLP 

225 Franklin Street, 16th Floor 
 Boston, Massachusetts 02110 
 Attn: Mark Stein, Esq. 

Fax No: (617) 341-7701 
 If to the Consultant to: 
 NCP, Inc. 

8 Centre Street 
 Concord, NH 03301 
 Attn: Norman Payson, M.D. 

Fax No: (781) 466-8262 
 with a copy to 
 Skadden, Arps, Slate, Meagher &
Flom LLP 
 1440 New York Ave., NW 

Washington, DC 20005 
 Attn: Jeremy London 
 Fax No: (202) 661-8299 

12. Governing Law. This Agreement shall be governed by and construed exclusively in accordance with the laws of
the State of Delaware, without giving effect to any principles of conflict of laws thereunder. Any action, suit or other legal proceeding arising under or relating to any provision of this Agreement shall be commenced exclusively in a state or
federal court located in the Commonwealth of Virginia and the parties hereby consent to the exclusive jurisdiction of, and venue, in such court. 
 13. Non-Waiver. No delay or omission by the Company in exercising any right under this Agreement shall operate as a waiver of that or any other right. A waiver or consent given by the Company on
any one occasion shall be effective only in that instance and shall not be construed as a bar or waiver of any right on any other occasion. 

 Execution Copy 

14. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an
original, which together shall constitute one and the same agreement. 
 15. Survival. Sections 4, 6, 7,
8, 9, 10, 12, 13, 16 and 17 shall survive the termination of this agreement and continue in full force and effect. 
 16. Entire Agreement; Amendment. This Agreement contains the entire agreement and understanding between the parties with respect to the subject matter hereof, and supersedes any and all prior and
contemporaneous agreements and understandings. This Agreement may be amended or modified only by a written instrument executed by both the Company and the Consultant. 

17. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). 

******* 

 IN WITNESS WHEREOF, the parties have duly executed this Consulting agreement
as of the date first above written. 
  

			
	 EVOLENT HEALTH, LLC

		
	By:	 	  /s/  Seth Blackley
		 	 Name: Seth Blackley
 Title:
  President

  

			
	 NCP, INC.:

		
	By:	 	  /s/  Norman Payson, M.D.
		 	 Name: Norman Payson, M.D.

Title:   President

 [Signature Page to Consulting Agreement] 

 Exhibit A 
 Services 
 The Company’s Chief Executive Officer and
President will direct the Services to be performed by the Consultant, which may include requesting services and guidance regarding specific customers. In addition, the Consultant will provide the Company with advice and guidance on Company strategy,
as well as products and services to be offered by the Company. It is anticipated that the Consultant’s time will be distributed in the following manner: 
  

	 	1.	 System Development – 75%. The Company will identify markets for the Consultant to focus on, including, but not limited to, Michigan and
Kentucky. The Consultant will be available on a weekly basis during a deal cycle to assist on deal structures and negotiation. Presently, the Company expects the Consultant to assist on the following deals: 

	 	a.	Michigan (state-wide), including anchor site Sparrow Health System (scheduled); 

	 	b.	Kentucky Baptist and their Bluegrass Health Plan (to be scheduled); and 

	 	c.	1-2 BPO targets, such as Henry Ford (TBD). 

  

	 	2.	 Existing Partner Growth – 15%. The Consultant will focus on educating the Company’s existing customers on the keys to success. The
Consultant will be available by phone or in-person, from time to time, to present to customers on specific topics. Such topics may include: 

	 	a.	IU Health Plan expansion (being scheduled), and 

	 	b.	Piedmont/WellStar (potentially in Q2). 

  

	 	3.	 Deal Structuring – 10%. The Consultant will assist the Company in developing financial models.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00244-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00244-of-00352.parquet"}]]